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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
UBNK
851
DELISTED
United Financial Bancorp, Inc.
UBNK
$532K 0.04%
37,530
-24,660
-40% -$337K
AROC icon
852
Archrock
AROC
$5.85B
$527K 0.04%
49,700
+11,360
+30% +$112K
NBHC icon
853
National Bank Holdings
NBHC
$1.94B
$527K 0.04%
14,510
+4,310
+42% +$156K
ROP icon
854
Roper Technologies
ROP
$39.3B
$527K 0.04%
1,440
+30
+2% +$10.6K
TDS icon
855
Telephone and Data Systems
TDS
$4.03B
$527K 0.04%
17,330
+380
+2% +$11.9K
VPG icon
856
Vishay Precision Group
VPG
$908M
$527K 0.04%
12,960
– –
DAN icon
857
Dana Inc
DAN
$3.26B
$526K 0.04%
26,370
– –
VSEC icon
858
VSE Corp
VSEC
$6.48B
$526K 0.04%
18,350
– –
BSTC
859
DELISTED
BioSpecifics Technologies Corp.
BSTC
$525K 0.04%
+8,800
New +$554K
BFIN
860
DELISTED
BankFinancial
BFIN
$522K 0.04%
+37,310
New +$542K
CBT icon
861
Cabot Corp
CBT
$4.45B
$522K 0.04%
10,940
– –
RFIL icon
862
RF Industries
RFIL
$144M
$522K 0.04%
61,800
+25,010
+68% +$186K
RMAX icon
863
RE/MAX Holdings
RMAX
$265M
$522K 0.04%
16,960
+9,670
+133% +$348K
RM icon
864
Regional Management Corp
RM
$301M
$522K 0.04%
+19,780
New +$493K
INVX
865
Innovex International
INVX
$2.15B
$522K 0.04%
10,880
+180
+2% +$7.83K
BMTC
866
DELISTED
Bryn Mawr Bank Corp
BMTC
$521K 0.04%
+13,960
New +$522K
BMI icon
867
Badger Meter
BMI
$3.78B
$520K 0.04%
8,710
+180
+2% +$9.98K
AEO icon
868
American Eagle Outfitters
AEO
$2.73B
$519K 0.04%
30,720
– –
WAFD icon
869
WaFd
WAFD
$2.81B
$519K 0.04%
14,860
– –
SHW icon
870
Sherwin-Williams
SHW
$87.8B
$518K 0.04%
3,390
+30
+0.9% +$4.48K
SUPN icon
871
Supernus Pharmaceuticals
SUPN
$2.74B
$518K 0.04%
15,650
+330
+2% +$11.3K
UFS
872
DELISTED
DOMTAR CORPORATION (New)
UFS
$518K 0.04%
11,630
+160
+1% +$7.31K
AMWD
873
DELISTED
American Woodmark
AMWD
$517K 0.04%
6,110
– –
LAND
874
Gladstone Land Corp
LAND
$358M
$517K 0.04%
+44,880
New +$555K
IIN
875
DELISTED
IntriCon Corporation
IIN
$517K 0.04%
+22,130
New +$554K
33 34
35
36 37

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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
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.