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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
GCAP
876
DELISTED
Gain Capital Holdings, Inc.
GCAP
$517K 0.04%
125,260
+49,450
+65% +$238K
BLMN icon
877
Bloomin' Brands
BLMN
$924M
$516K 0.04%
+27,300
New +$533K
HSIC icon
878
Henry Schein
HSIC
$10B
$515K 0.04%
7,370
+5,320
+260% +$352K
WNC icon
879
Wabash National
WNC
$509M
$515K 0.04%
31,670
-1,110
-3% -$16.3K
SFLY
880
DELISTED
Shutterfly, Inc.
SFLY
$515K 0.04%
10,190
+180
+2% +$8.22K
FULT icon
881
Fulton Financial
FULT
$4.69B
$514K 0.04%
31,410
+340
+1% +$5.6K
MSBI icon
882
Midland States Bancorp
MSBI
$698M
$514K 0.04%
+19,240
New +$499K
SEM
883
DELISTED
Select Medical
SEM
$514K 0.04%
60,079
+1,170
+2% +$9.24K
TACT icon
884
Transact Technologies
TACT
$52.5M
$514K 0.04%
45,640
+18,510
+68% +$175K
DOW icon
885
Dow Inc
DOW
$21.9B
$513K 0.04%
+10,411
New +$550K
EGBN icon
886
Eagle Bancorp
EGBN
$877M
$513K 0.04%
9,470
+210
+2% +$11.4K
FONR
887
DELISTED
Fonar
FONR
$513K 0.04%
+23,860
New +$488K
AVP
888
DELISTED
Avon Products, Inc.
AVP
$513K 0.04%
132,340
+2,670
+2% +$8.89K
CVCO icon
889
Cavco Industries
CVCO
$4.67B
$512K 0.04%
3,250
+740
+29% +$101K
FCF icon
890
First Commonwealth Financial
FCF
$2.19B
$512K 0.04%
37,960
+3,070
+9% +$40.5K
HNRG icon
891
Hallador Energy
HNRG
$730M
$512K 0.04%
90,890
– –
TRN icon
892
Trinity Industries
TRN
$2.34B
$511K 0.04%
24,650
+260
+1% +$5.53K
VMI icon
893
Valmont Industries
VMI
$9.5B
$511K 0.04%
4,030
– –
LZB icon
894
La-Z-Boy
LZB
$1.67B
$510K 0.04%
16,640
-440
-3% -$14.3K
FWRD icon
895
Forward Air
FWRD
$682M
$509K 0.04%
8,610
+50
+0.6% +$3.08K
ROST icon
896
Ross Stores
ROST
$78.6B
$508K 0.04%
5,130
+80
+2% +$7.8K
BY icon
897
Byline Bancorp
BY
$1.78B
$507K 0.04%
+26,540
New +$509K
KHC icon
898
Kraft Heinz
KHC
$30.1B
$506K 0.04%
16,310
-5,810
-26% -$183K
THRM icon
899
Gentherm
THRM
$1.32B
$506K 0.04%
12,090
+2,200
+22% +$88.6K
NUS icon
900
Nu Skin
NUS
$236M
$505K 0.04%
10,240
+110
+1% +$5.59K
34 35
36
37 38

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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.