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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
SPSC icon
826
SPS Commerce
SPSC
$2.86B
$543K 0.04%
10,620
+180
+2% +$9.38K
TCF
827
DELISTED
TCF Financial Corporation Common Stock
TCF
$543K 0.04%
13,220
+200
+2% +$8.3K
LTC
828
LTC Properties
LTC
$2.1B
$542K 0.04%
11,880
+260
+2% +$11.8K
VRA icon
829
Vera Bradley
VRA
$94.7M
$542K 0.04%
45,190
+31,250
+224% +$370K
BOCH
830
DELISTED
Bank of Commerce Holdings (CA)
BOCH
$542K 0.04%
+50,720
New +$540K
DHI icon
831
D.R. Horton
DHI
$41.9B
$541K 0.04%
12,540
-2,070
-14% -$91.6K
CMD
832
DELISTED
Cantel Medical Corporation
CMD
$541K 0.04%
6,710
+90
+1% +$6.33K
UNM icon
833
Unum
UNM
$14.7B
$539K 0.04%
16,050
+1,490
+10% +$51.6K
BFYT
834
DELISTED
Benefytt Technologies, Inc. Class A Common Stock
BFYT
$539K 0.04%
+20,810
New +$523K
CDP icon
835
COPT Defense Properties
CDP
$4.23B
$538K 0.04%
20,390
+550
+3% +$15.3K
ECPG icon
836
Encore Capital Group
ECPG
$2.15B
$538K 0.04%
15,870
+980
+7% +$31.8K
TRC icon
837
Tejon Ranch
TRC
$443M
$538K 0.04%
32,410
+14,280
+79% +$244K
GATX icon
838
GATX Corp
GATX
$6.33B
$537K 0.04%
6,770
-80
-1% -$6.08K
NPO icon
839
Enpro
NPO
$7.12B
$537K 0.04%
8,410
+140
+2% +$9.15K
PFS icon
840
Provident Financial Services
PFS
$3.26B
$537K 0.04%
22,150
+300
+1% +$7.6K
UMBF icon
841
UMB Financial
UMBF
$11.5B
$537K 0.04%
8,160
-20
-0.2% -$1.32K
GIII icon
842
G-III Apparel Group
GIII
$1.43B
$536K 0.04%
18,210
+5,910
+48% +$202K
MZTI
843
The Marzetti Company
MZTI
$3.22B
$536K 0.04%
3,610
+50
+1% +$7.49K
TWIN icon
844
Twin Disc
TWIN
$349M
$536K 0.04%
35,510
+8,220
+30% +$128K
UVSP icon
845
Univest Financial
UVSP
$1.19B
$536K 0.04%
20,410
– –
CSW
846
CSW Industrials
CSW
$5.59B
$535K 0.04%
+7,850
New +$491K
WHG icon
847
Westwood Holdings Group
WHG
$184M
$535K 0.04%
+15,200
New +$487K
AAT
848
American Assets Trust
AAT
$1.41B
$533K 0.04%
11,320
+250
+2% +$11.5K
EW icon
849
Edwards Lifesciences
EW
$53.4B
$532K 0.04%
8,640
+150
+2% +$9.07K
WIRE
850
DELISTED
Encore Wire Corp
WIRE
$532K 0.04%
9,090
+1,000
+12% +$55.9K
32 33
34
35 36

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VAS
Vestmark Advisory Solutions Wakefield, Massachusetts $9.02B AUM 20.58% 1-Year Est. Return
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
Partners Value Investments Hamilton, Bermuda $9.34B AUM 12.2% 1-Year Est. Return

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.