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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
+3.76%
1 Year Est. Return
+13.04%
3 Year Est. Return
+34.61%
5 Year Est. Return
+23.86%
10 Year Est. Return
–
AUM
$1.3B
AUM Growth
-$172M
Cap. Flow
-$203M
Cap. Flow %
-15.65%
Top 10 Hldgs %
7.4%
Holding
1,685
New
30
Increased
36
Reduced
1,443
Closed
27

Top Buys

Rank Stock Value
1
QRVO icon
Qorvo
QRVO
+$3.15M
2
ENTA icon
Enanta Pharmaceuticals
ENTA
+$1.34M
3
BMS
Bemis
BMS
+$1.24M
4
KMI icon
Kinder Morgan
KMI
+$1.12M
5
DAN icon
Dana Inc
DAN
+$1.11M

Top Sells

Rank Stock Value
1
SWKS icon
Skyworks Solutions
SWKS
+$4.76M
2
AAPL icon
Apple
AAPL
+$4.28M
3
ENDP
Endo International plc
ENDP
+$3.74M
4
CBST
CUBIST PHARMACEUTICALS INC
CBST
+$2.48M
5
AGN
Allergan Inc
AGN
+$2.19M

Sector Composition

Rank Sector Weight
1 Financials 13.9%
2 Technology 13.85%
3 Industrials 13.45%
4 Healthcare 11.91%
5 Consumer Discretionary 11.49%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MNK
826
DELISTED
MALLINCKRODT PUBLIC LIMITED COMPANY
MNK
$431K 0.03%
3,400
-750
-18% -$85.7K
WMAR
827
DELISTED
West Marine Inc
WMAR
$431K 0.03%
46,500
– –
AROC icon
828
Archrock
AROC
$5.85B
$430K 0.03%
12,800
-4,090
-24% -$125K
KBH icon
829
KB Home
KBH
$3.45B
$430K 0.03%
27,500
-2,070
-7% -$28.9K
PGR icon
830
Progressive
PGR
$121B
$430K 0.03%
15,800
-3,100
-16% -$82.8K
VAC icon
831
Marriott Vacations Worldwide
VAC
$4.17B
$430K 0.03%
5,300
-2,300
-30% -$178K
LDL
832
DELISTED
Lydall, Inc.
LDL
$429K 0.03%
13,500
-1,200
-8% -$36.6K
AMTG
833
DELISTED
APOLLO RESIDENTIAL MTG INC COM STK
AMTG
$429K 0.03%
26,100
– –
FNB icon
834
FNB Corp
FNB
$6.88B
$428K 0.03%
32,600
-9,900
-23% -$126K
MOS icon
835
The Mosaic Company
MOS
$6.92B
$428K 0.03%
9,300
-1,900
-17% -$92.7K
NLSN
836
DELISTED
Nielsen Holdings plc
NLSN
$428K 0.03%
9,600
-900
-9% -$39.6K
HCSG icon
837
Healthcare Services Group
HCSG
$1.45B
$427K 0.03%
13,300
-4,700
-26% -$152K
LAD icon
838
Lithia Motors
LAD
$8.32B
$427K 0.03%
4,300
-1,500
-26% -$135K
NBN icon
839
Northeast Bank
NBN
$1.16B
$427K 0.03%
46,300
– –
BF.B icon
840
Brown-Forman Class B
BF.B
$12.9B
$426K 0.03%
14,688
-2,812
-16% -$81K
CF icon
841
CF Industries
CF
$17.7B
$426K 0.03%
7,500
-1,500
-17% -$89.4K
QLTY
842
DELISTED
QUALITY DISTR INC FLA
QLTY
$425K 0.03%
41,100
– –
DTE icon
843
DTE Energy
DTE
$29B
$424K 0.03%
6,110
-1,058
-15% -$76K
GWW icon
844
W.W. Grainger
GWW
$62.2B
$424K 0.03%
1,800
-300
-14% -$71.6K
WERN icon
845
Werner Enterprises
WERN
$2.31B
$424K 0.03%
13,500
-990
-7% -$30.6K
RYL
846
DELISTED
RYLAND GROUP INC
RYL
$424K 0.03%
8,700
-3,300
-28% -$141K
RHT
847
DELISTED
Red Hat Inc
RHT
$424K 0.03%
5,600
-900
-14% -$61K
DX
848
Dynex Capital
DX
$3.23B
$423K 0.03%
16,633
– –
GPC icon
849
Genuine Parts
GPC
$18.7B
$423K 0.03%
4,500
-800
-15% -$77.1K
HSII
850
DELISTED
Heidrick & Struggles
HSII
$423K 0.03%
17,200
-1,000
-5% -$23.4K
32 33
34
35 36

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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 Q1 2015 Portfolio in Review

As of Q1 2015, Municipal Employees' Retirement System of Michigan held 1,685 positions worth $1.3B, down 12% from $1.47B the previous quarter. Its ten largest holdings account for 7.4% of the portfolio.

Municipal Employees' Retirement System of Michigan withdrew a net $203M in Q1 2015, closing 27 positions and reducing 1,443 holdings. Its most notable exit was CUBIST PHARMACEUTICALS INC, an estimated $2.48M position sold in full.

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

Against the trend, Municipal Employees' Retirement System of Michigan opened a new position in Qorvo worth $3.52M.

  • Municipal Employees' Retirement System of Michigan's largest Q1 2015 buy was Qorvo: 44,200 shares worth $3.52M.
  • Municipal Employees' Retirement System of Michigan added most to Bemis in Q1 2015, an estimated $1.24M increase.
  • Municipal Employees' Retirement System of Michigan's biggest Q1 2015 reduction was Skyworks Solutions, cutting an estimated $4.76M.
  • Municipal Employees' Retirement System of Michigan fully exited CUBIST PHARMACEUTICALS INC in Q1 2015, selling an estimated $2.48M.
  • Municipal Employees' Retirement System of Michigan's ten largest holdings make up 7.4% of its $1.3B portfolio in Q1 2015.
  • Municipal Employees' Retirement System of Michigan opened 30 new positions and closed 27 in Q1 2015.
  • Municipal Employees' Retirement System of Michigan's portfolio value fell 12% quarter-over-quarter to $1.3B.

Based on Municipal Employees' Retirement System of Michigan's 13F filing for Q1 2015, filed 8 May 2015.