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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
IVV icon
1
iShares Core S&P 500 ETF
IVV
$904B
$346M 13.22%
+1,158,671
New +$344M
SPTI icon
2
State Street SPDR Portfolio Intermediate Term Treasury ETF
SPTI
$10.6B
$117M 4.48%
+3,744,894
New +$117M
STIP icon
3
iShares 0-5 Year TIPS Bond ETF
STIP
$15.9B
$59.9M 2.29%
+598,384
New +$59.9M
MBB icon
4
iShares MBS ETF
MBB
$39B
$50.4M 1.93%
+465,332
New +$50.2M
FLRN icon
5
State Street SPDR Bloomberg Investment Grade Floating Rate ETF
FLRN
$2.97B
$45.2M 1.73%
+1,468,189
New +$45.1M
MSFT icon
6
Microsoft
MSFT
$3.66T
$18.8M 0.72%
135,070
+1,290
+1% +$177K
AAPL icon
7
Apple
AAPL
$4.41T
$17.5M 0.67%
312,000
-2,760
-0.9% -$144K
IGSB icon
8
iShares 1-5 Year Investment Grade Corporate Bond ETF
IGSB
$23.3B
$15.2M 0.58%
+282,539
New +$15.1M
AMZN icon
9
Amazon
AMZN
$2.88T
$13.2M 0.5%
152,200
+1,800
+1% +$167K
META icon
10
Meta Platforms (Facebook)
META
$1.47T
$9.35M 0.36%
52,480
+680
+1% +$129K
BRK.B icon
11
Berkshire Hathaway Class B
BRK.B
$1.09T
$9.04M 0.35%
43,450
+260
+0.6% +$53.6K
JPM icon
12
JPMorgan Chase
JPM
$971B
$8.86M 0.34%
75,260
+190
+0.3% +$21.5K
GOOGL icon
13
Alphabet (Google) Class A
GOOGL
$4.2T
$8.45M 0.32%
138,400
+1,000
+0.7% +$59.2K
PG icon
14
Procter & Gamble
PG
$335B
$8.37M 0.32%
67,320
+560
+0.8% +$66.2K
JNJ icon
15
Johnson & Johnson
JNJ
$629B
$8.02M 0.31%
61,970
+380
+0.6% +$50.1K
T icon
16
AT&T
T
$166B
$7.89M 0.3%
276,136
+2,039
+0.7% +$54K
V icon
17
Visa
V
$671B
$7.85M 0.3%
45,630
+170
+0.4% +$30.3K
HD icon
18
Home Depot
HD
$342B
$7.47M 0.29%
32,190
-210
-0.6% -$45.9K
MA icon
19
Mastercard
MA
$490B
$7.23M 0.28%
26,630
+120
+0.5% +$33.1K
XOM icon
20
ExxonMobil
XOM
$657B
$7.09M 0.27%
100,450
+700
+0.7% +$50.6K
VZ icon
21
Verizon
VZ
$195B
$7.02M 0.27%
116,370
+810
+0.7% +$46.6K
BAC icon
22
Bank of America
BAC
$453B
$6.95M 0.27%
238,170
– –
MRK icon
23
Merck
MRK
$328B
$6.94M 0.27%
86,439
+409
+0.5% +$32.8K
KO icon
24
Coca-Cola
KO
$373B
$6.84M 0.26%
125,710
+590
+0.5% +$31.6K
DIS icon
25
Walt Disney
DIS
$178B
$6.56M 0.25%
50,355
+320
+0.6% +$44.2K
1
2 3 4 5

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SFM
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AI
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HI
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PEA
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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.