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MERSOM

Municipal Employees' Retirement System of Michigan Portfolio holdings

AUM $9.05B
1-Year Est. Return 13.04%
This Fund
S&P 500
This Quarter Est. Return
+1.02%
1 Year Est. Return
+13.04%
3 Year Est. Return
+34.61%
5 Year Est. Return
+23.86%
10 Year Est. Return
–
AUM
$2.62B
AUM Growth
+$1.18B
Cap. Flow
+$1.18B
Cap. Flow %
45.1%
Top 10 Hldgs %
33.55%
Holding
1,716
New
55
Increased
626
Reduced
537
Closed
38

Top Buys

Rank Stock Value
1
IVV icon
iShares Core S&P 500 ETF
IVV
+$344M
2
SPTI icon
State Street SPDR Portfolio Intermediate Term Treasury ETF
SPTI
+$117M
3
STIP icon
iShares 0-5 Year TIPS Bond ETF
STIP
+$59.9M
4
MBB icon
iShares MBS ETF
MBB
+$50.2M
5
FLRN icon
State Street SPDR Bloomberg Investment Grade Floating Rate ETF
FLRN
+$45.1M

Top Sells

Rank Stock Value
1
NGL icon
NGL Energy Partners
NGL
+$9.04M
2
CEQP
Crestwood Equity Partners LP
CEQP
+$7.87M
3
TCP
TC Pipelines LP
TCP
+$7.48M
4
CQP icon
Cheniere Energy
CQP
+$7.31M
5
NS
NuStar Energy L.P.
NS
+$7.27M

Sector Composition

Rank Sector Weight
1 Financials 8.75%
2 Technology 7.96%
3 Industrials 7.51%
4 Consumer Discretionary 5.82%
5 Healthcare 5.81%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
UBNK
1676
DELISTED
United Financial Bancorp, Inc.
UBNK
– –
-37,530
Closed -$532K
NRE
1677
DELISTED
NorthStar Realty Europe Corp.
NRE
– –
-20,050
Closed -$330K
TOWR
1678
DELISTED
Tower International, Inc.
TOWR
– –
-32,470
Closed -$633K
SFLY
1679
DELISTED
Shutterfly, Inc.
SFLY
– –
-10,190
Closed -$515K
CRAY
1680
DELISTED
Cray, Inc.
CRAY
– –
-12,180
Closed -$424K
CHSP
1681
DELISTED
Chesapeake Lodging Trust
CHSP
– –
-21,360
Closed -$607K
WAGE
1682
DELISTED
WageWorks, Inc.
WAGE
– –
-11,860
Closed -$602K
APC
1683
DELISTED
Anadarko Petroleum
APC
– –
-6,920
Closed -$488K
BKS
1684
DELISTED
Barnes & Noble
BKS
– –
-17,070
Closed -$114K
CTRL
1685
DELISTED
Control4 Corporation
CTRL
– –
-7,930
Closed -$188K
HF
1686
DELISTED
HFF Inc.
HF
– –
-14,100
Closed -$641K
LABL
1687
DELISTED
Multi-Color Corp
LABL
– –
-4,170
Closed -$208K
LLL
1688
DELISTED
L3 Technologies, Inc.
LLL
– –
-1,090
Closed -$267K
LION
1689
DELISTED
Fidelity Southern Corporation
LION
– –
-6,580
Closed -$204K
FNBC
1690
DELISTED
First NBC Bank Holding Company
FNBC
$0 ﹤0.01%
3,840
– –
ESV
1691
DELISTED
Ensco Rowan plc
ESV
– –
-36,394
Closed -$310K
TSS
1692
DELISTED
Total System Services, Inc.
TSS
– –
-2,260
Closed -$290K
EFII
1693
DELISTED
Electronics for Imaging
EFII
– –
-12,830
Closed -$474K
RHT
1694
DELISTED
Red Hat Inc
RHT
– –
-2,450
Closed -$460K
FNSR
1695
DELISTED
Finisar Corp
FNSR
– –
-35,270
Closed -$807K
SPN
1696
DELISTED
Superior Energy Services, Inc.
SPN
– –
-4,644
Closed -$60K
TCF
1697
DELISTED
TCF Financial Corporation
TCF
– –
-30,320
Closed -$630K
64 65 66 67
68

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SFM
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AI
Ariel Investments Chicago, Illinois $8.93B AUM 29.58% 1-Year Est. Return
HI
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PEA
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SUT
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MU
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WPL
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Municipal Employees' Retirement System of Michigan's Q3 2019 Portfolio in Review

As of Q3 2019, Municipal Employees' Retirement System of Michigan held 1,716 positions worth $2.62B, up 83% from $1.43B the previous quarter. Its ten largest holdings account for 34% of the portfolio.

Municipal Employees' Retirement System of Michigan deployed $1.18B of net new capital in Q3 2019, opening 55 new positions and adding to 626 existing holdings. Its largest new stake was iShares Core S&P 500 ETF: 1,158,671 shares worth $346M.

By sector, the portfolio is most concentrated in Financials at 8.8% of assets, down from 16% a quarter earlier, followed by Technology and Industrials.

On the sell side, the largest reduction was MarketAxess Holdings, an estimated $2.31M trimmed.

  • Municipal Employees' Retirement System of Michigan's largest Q3 2019 buy was iShares Core S&P 500 ETF: 1,158,671 shares worth $346M.
  • Municipal Employees' Retirement System of Michigan added most to Foot Locker in Q3 2019, an estimated $748K increase.
  • Municipal Employees' Retirement System of Michigan's biggest Q3 2019 reduction was MarketAxess Holdings, cutting an estimated $2.31M.
  • Municipal Employees' Retirement System of Michigan fully exited NGL Energy Partners in Q3 2019, selling an estimated $9.04M.
  • Municipal Employees' Retirement System of Michigan's ten largest holdings make up 34% of its $2.62B portfolio in Q3 2019.
  • Municipal Employees' Retirement System of Michigan opened 55 new positions and closed 38 in Q3 2019.
  • Municipal Employees' Retirement System of Michigan's portfolio value rose 83% quarter-over-quarter to $2.62B.

Based on Municipal Employees' Retirement System of Michigan's 13F filing for Q3 2019, filed 29 Oct 2019.