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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
CMTL icon
201
Comtech Telecommunications
CMTL
$51.8M
$1.3M 0.05%
39,920
-3,740
-9% -$107K
PTC icon
202
PTC
PTC
$16B
$1.3M 0.05%
19,020
-720
-4% -$52.6K
DEI icon
203
Douglas Emmett
DEI
$1.99B
$1.3M 0.05%
30,270
+370
+1% +$15.3K
RYZ
204
Ryerson Holding Corp
RYZ
$1.5B
$1.29M 0.05%
151,840
– –
LAMR icon
205
Lamar Advertising Co
LAMR
$15.8B
$1.29M 0.05%
15,770
+20
+0.1% +$1.58K
HRC
206
DELISTED
HILL-ROM HOLDINGS, INC.
HRC
$1.29M 0.05%
12,260
-70
-0.6% -$7.38K
FIVE icon
207
Five Below
FIVE
$13.5B
$1.29M 0.05%
10,210
-100
-1% -$12.1K
GNTX icon
208
Gentex
GNTX
$4.96B
$1.29M 0.05%
46,740
-1,190
-2% -$31.4K
KSU
209
DELISTED
Kansas City Southern
KSU
$1.28M 0.05%
9,630
– –
DHR icon
210
Danaher
DHR
$144B
$1.28M 0.05%
9,972
+158
+2% +$19.8K
CTLT
211
DELISTED
CATALENT, INC.
CTLT
$1.28M 0.05%
26,790
-140
-0.5% -$7.52K
MOH icon
212
Molina Healthcare
MOH
$10.7B
$1.26M 0.05%
11,500
-50
-0.4% -$6.48K
OC icon
213
Owens Corning
OC
$12.4B
$1.26M 0.05%
+19,960
New +$1.14M
KFRC icon
214
Kforce
KFRC
$1.04B
$1.26M 0.05%
33,310
– –
MTB icon
215
M&T Bank
MTB
$36.8B
$1.26M 0.05%
7,950
– –
VAR
216
DELISTED
Varian Medical Systems, Inc.
VAR
$1.25M 0.05%
10,520
– –
ETSY icon
217
Etsy
ETSY
$7.43B
$1.25M 0.05%
+22,100
New +$1.3M
VLGEA icon
218
Village Super Market
VLGEA
$636M
$1.24M 0.05%
46,860
– –
EBAY icon
219
eBay
EBAY
$46.4B
$1.24M 0.05%
31,750
-750
-2% -$30.1K
KOP icon
220
Koppers
KOP
$874M
$1.24M 0.05%
42,280
-7,810
-16% -$217K
ORI icon
221
Old Republic International
ORI
$10.3B
$1.23M 0.05%
52,290
-330
-0.6% -$7.53K
OXY icon
222
Occidental Petroleum
OXY
$57.7B
$1.23M 0.05%
27,690
+2,190
+9% +$104K
CCMP
223
DELISTED
CMC Materials, Inc. Common Stock
CCMP
$1.23M 0.05%
8,710
+50
+0.6% +$6.17K
GM icon
224
General Motors
GM
$76.6B
$1.23M 0.05%
32,740
+360
+1% +$13.8K
JNPR
225
DELISTED
Juniper Networks
JNPR
$1.22M 0.05%
49,340
– –
7 8
9
10 11

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VAS
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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.