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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
+3.33%
1 Year Est. Return
+13.04%
3 Year Est. Return
+34.61%
5 Year Est. Return
+23.86%
10 Year Est. Return
–
AUM
$1.43B
AUM Growth
-$70.2M
Cap. Flow
-$98.3M
Cap. Flow %
-6.86%
Top 10 Hldgs %
7.59%
Holding
1,762
New
80
Increased
1,069
Reduced
323
Closed
101

Top Buys

Rank Stock Value
1
PYPL icon
PayPal
PYPL
+$3.57M
2
AVGO icon
Broadcom
AVGO
+$3.12M
3
AXP icon
American Express
AXP
+$2.75M
4
NKE icon
Nike
NKE
+$2.66M
5
SPTN
SpartanNash
SPTN
+$2.13M

Top Sells

Rank Stock Value
1
PSXP
PHILLIPS 66 PARTNERS LP
PSXP
+$7.28M
2
TGE
Tallgrass Energy, LP Class A Shares
TGE
+$7.2M
3
ENLC
ENLINK MIDSTREAM, LLC
ENLC
+$7.14M
4
EPD icon
Enterprise Products Partners
EPD
+$7.13M
5
BPL
Buckeye Partners, L.P.
BPL
+$7.08M

Sector Composition

Rank Sector Weight
1 Financials 16.31%
2 Technology 14.61%
3 Industrials 14.44%
4 Healthcare 10.84%
5 Consumer Discretionary 10.59%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ESE icon
551
ESCO Technologies
ESE
$7.79B
$756K 0.05%
9,160
+150
+2% +$11K
SNX icon
552
TD Synnex
SNX
$20.4B
$754K 0.05%
15,334
+220
+1% +$10.9K
SRCL
553
DELISTED
Stericycle Inc
SRCL
$753K 0.05%
15,760
+240
+2% +$12.2K
WRK
554
DELISTED
WestRock Company
WRK
$753K 0.05%
20,658
-9,660
-32% -$355K
IBKR icon
555
Interactive Brokers
IBKR
$41.4B
$752K 0.05%
55,520
-14,760
-21% -$200K
KNX icon
556
Knight Transportation
KNX
$11.9B
$752K 0.05%
22,910
– –
ZTS icon
557
Zoetis
ZTS
$31.3B
$752K 0.05%
6,630
-12,690
-66% -$1.33M
CHDN icon
558
Churchill Downs
CHDN
$6.2B
$751K 0.05%
13,060
– –
ILMN icon
559
Illumina
ILMN
$29.1B
$751K 0.05%
2,097
+51
+2% +$16.1K
ITGR icon
560
Integer Holdings
ITGR
$4.25B
$751K 0.05%
8,950
-1,960
-18% -$147K
KMX icon
561
CarMax
KMX
$8.52B
$751K 0.05%
8,650
-2,490
-22% -$195K
LITE icon
562
Lumentum
LITE
$78B
$751K 0.05%
14,070
+150
+1% +$7.99K
BLKB icon
563
Blackbaud
BLKB
$2.1B
$750K 0.05%
8,980
+130
+1% +$10.3K
TXNM
564
TXNM Energy Inc
TXNM
$5.91B
$750K 0.05%
14,730
+210
+1% +$10K
VG
565
DELISTED
Vonage Holdings Corporation
VG
$748K 0.05%
66,010
+1,400
+2% +$15.2K
ARI
566
Apollo Commercial Real Estate
ARI
$886M
$747K 0.05%
40,640
+2,780
+7% +$51.7K
ARWR icon
567
Arrowhead Research
ARWR
$12.1B
$747K 0.05%
+28,180
New +$618K
HAL icon
568
Halliburton
HAL
$27.4B
$746K 0.05%
32,800
+20,940
+177% +$544K
BCO icon
569
Brink's
BCO
$4.72B
$745K 0.05%
9,180
-50
-0.5% -$3.98K
EQT icon
570
EQT Corp
EQT
$33.8B
$745K 0.05%
47,100
+720
+2% +$13.8K
ZUMZ icon
571
Zumiez
ZUMZ
$319M
$745K 0.05%
28,540
-1,000
-3% -$24.3K
PFBC icon
572
Preferred Bank
PFBC
$1.28B
$744K 0.05%
15,750
-1,410
-8% -$66.2K
KAMN
573
DELISTED
Kaman Corp
KAMN
$742K 0.05%
11,660
+3,460
+42% +$208K
VIAB
574
DELISTED
Viacom Inc. Class B
VIAB
$742K 0.05%
24,840
+11,660
+88% +$341K
CC icon
575
Chemours
CC
$2.3B
$741K 0.05%
30,880
+330
+1% +$9.72K
21 22
23
24 25

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VAS
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SFM
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AI
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PEA
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SUT
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MU
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WPL
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PVI
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Municipal Employees' Retirement System of Michigan's Q2 2019 Portfolio in Review

As of Q2 2019, Municipal Employees' Retirement System of Michigan held 1,762 positions worth $1.43B, down 4.7% from $1.5B the previous quarter. Its ten largest holdings account for 7.6% of the portfolio.

Municipal Employees' Retirement System of Michigan withdrew a net $98.3M in Q2 2019, closing 101 positions and reducing 323 holdings. Its most notable exit was PHILLIPS 66 PARTNERS LP, an estimated $7.28M position sold in full.

By sector, the portfolio is most concentrated in Financials at 16% of assets, up from 14% a quarter earlier, followed by Technology and Industrials.

Against the trend, Municipal Employees' Retirement System of Michigan opened a new position in PC Connection worth $1.5M.

  • Municipal Employees' Retirement System of Michigan's largest Q2 2019 buy was PC Connection: 43,010 shares worth $1.5M.
  • Municipal Employees' Retirement System of Michigan added most to PayPal in Q2 2019, an estimated $3.57M increase.
  • Municipal Employees' Retirement System of Michigan's biggest Q2 2019 reduction was DuPont de Nemours, cutting an estimated $2.75M.
  • Municipal Employees' Retirement System of Michigan fully exited PHILLIPS 66 PARTNERS LP in Q2 2019, selling an estimated $7.28M.
  • Municipal Employees' Retirement System of Michigan's ten largest holdings make up 7.6% of its $1.43B portfolio in Q2 2019.
  • Municipal Employees' Retirement System of Michigan opened 80 new positions and closed 101 in Q2 2019.
  • Municipal Employees' Retirement System of Michigan's portfolio value fell 4.7% quarter-over-quarter to $1.43B.

Based on Municipal Employees' Retirement System of Michigan's 13F filing for Q2 2019, filed 31 Jul 2019.