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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
IBCP icon
701
Independent Bank Corp
IBCP
$854M
$626K 0.04%
28,710
– –
PMT
702
PennyMac Mortgage Investment
PMT
$828M
$626K 0.04%
28,670
+3,790
+15% +$80.4K
TGT icon
703
Target
TGT
$70.6B
$626K 0.04%
7,230
-4,350
-38% -$352K
TBBK icon
704
The Bancorp
TBBK
$2.82B
$624K 0.04%
+69,950
New +$644K
DRH icon
705
Diamondrock Hospitality Co
DRH
$2.51B
$623K 0.04%
60,240
+1,040
+2% +$11K
WM icon
706
Waste Management
WM
$89.6B
$623K 0.04%
5,400
+90
+2% +$9.77K
SGI
707
Somnigroup International
SGI
$14B
$623K 0.04%
33,960
+560
+2% +$9.03K
SACH
708
Sachem Capital Corp
SACH
$37.6M
$622K 0.04%
+117,140
New +$567K
PSB
709
DELISTED
PS Business Parks, Inc.
PSB
$622K 0.04%
3,690
-2,180
-37% -$349K
DVA icon
710
DaVita
DVA
$11.4B
$621K 0.04%
11,030
+3,600
+48% +$187K
BBY icon
711
Best Buy
BBY
$18B
$620K 0.04%
8,880
+70
+0.8% +$4.88K
NBN icon
712
Northeast Bank
NBN
$1.16B
$620K 0.04%
22,490
-12,240
-35% -$259K
SANM icon
713
Sanmina
SANM
$11.1B
$620K 0.04%
20,470
+460
+2% +$13.9K
TPR icon
714
Tapestry
TPR
$25.9B
$620K 0.04%
19,540
+15,640
+401% +$488K
HELE icon
715
Helen of Troy
HELE
$699M
$618K 0.04%
4,730
-80
-2% -$10.5K
AGM icon
716
Federal Agricultural Mortgage
AGM
$2.51B
$617K 0.04%
8,490
-9,350
-52% -$688K
LEN icon
717
Lennar Class A
LEN
$21.1B
$617K 0.04%
13,171
-1,456
-10% -$72.6K
SWKS icon
718
Skyworks Solutions
SWKS
$10.5B
$617K 0.04%
7,980
+840
+12% +$66.6K
IVR icon
719
Invesco Mortgage Capital
IVR
$805M
$616K 0.04%
3,819
-736
-16% -$118K
BANR icon
720
Banner Corp
BANR
$2.5B
$615K 0.04%
11,370
+2,130
+23% +$114K
MSM icon
721
MSC Industrial Direct
MSM
$6.77B
$615K 0.04%
8,280
– –
COHR
722
DELISTED
Coherent Inc
COHR
$614K 0.04%
4,500
+60
+1% +$8.11K
CLGX
723
DELISTED
Corelogic, Inc.
CLGX
$614K 0.04%
14,690
– –
BGS icon
724
B&G Foods
BGS
$299M
$613K 0.04%
29,500
+10,170
+53% +$234K
RAMP icon
725
LiveRamp
RAMP
$2.31B
$612K 0.04%
12,620
+220
+2% +$11.9K
27 28
29
30 31

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VAS
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SFM
Soros Fund Management New York $9.12B AUM 30.69% 1-Year Est. Return
AI
Ariel Investments Chicago, Illinois $8.93B AUM 29.58% 1-Year Est. Return
PEA
Platinum Equity Advisors Beverly Hills, California $8.88B AUM 27.09% 1-Year Est. Return
SUT
SC US (TTGP) Menlo Park, California $9.25B AUM 20.49% 1-Year Est. Return
MU
Mirova US Boston, Massachusetts $8.81B AUM 21.38% 1-Year Est. Return
WPL
WINDACRE PARTNERSHIP LLC Houston, Texas $9.34B AUM 17.41% 1-Year Est. Return
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.