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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
+5.45%
1 Year Est. Return
+13.04%
3 Year Est. Return
+34.61%
5 Year Est. Return
+23.86%
10 Year Est. Return
–
AUM
$1.85B
AUM Growth
+$356M
Cap. Flow
+$294M
Cap. Flow %
15.88%
Top 10 Hldgs %
6.88%
Holding
1,781
New
28
Increased
1,420
Reduced
173
Closed
96

Top Buys

Rank Stock Value
1
TEP
Tallgrass Energy Partners, LP
TEP
+$3.98M
2
BWP
Boardwalk Pipeline Partners
BWP
+$3.93M
3
RTX icon
RTX Corp
RTX
+$2.48M
4
HON icon
Honeywell
HON
+$2.48M
5
SBUX icon
Starbucks
SBUX
+$2.27M

Top Sells

Rank Stock Value
1
JAH
JARDEN CORPORATION
JAH
+$4.06M
2
AYI icon
Acuity Brands
AYI
+$3.3M
3
CNC icon
Centene
CNC
+$3.2M
4
LKQ icon
LKQ Corp
LKQ
+$3M
5
GPN icon
Global Payments
GPN
+$2.82M

Sector Composition

Rank Sector Weight
1 Financials 14.06%
2 Industrials 12.58%
3 Technology 12.24%
4 Healthcare 11.55%
5 Consumer Discretionary 9.67%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GPC icon
951
Genuine Parts
GPC
$18.7B
$481K 0.03%
4,720
+130
+3% +$12.6K
LXP icon
952
LXP Industrial Trust
LXP
$3.58B
$481K 0.03%
9,350
+288
+3% +$13.3K
DLR icon
953
Digital Realty Trust
DLR
$73.1B
$480K 0.03%
+4,400
New +$418K
SLCA
954
DELISTED
U.S. SILICA HOLDINGS, INC.
SLCA
$480K 0.03%
13,910
+2,550
+22% +$70.6K
UCFC
955
DELISTED
United Community Financial Corp
UCFC
$480K 0.03%
78,880
+78,300
+13,500% +$463K
RH icon
956
RH
RH
$3.4B
$479K 0.03%
+16,710
New +$598K
ULTA icon
957
Ulta Beauty
ULTA
$22.2B
$478K 0.03%
+1,960
New +$427K
XOXO
958
DELISTED
Xo Group Inc
XOXO
$478K 0.03%
27,400
+180
+0.7% +$3.04K
MEET
959
DELISTED
The Meet Group, Inc. Common Stock
MEET
$478K 0.03%
89,610
-53,700
-37% -$199K
FONR
960
DELISTED
Fonar
FONR
$476K 0.03%
23,370
-45,600
-66% -$753K
ROIC
961
DELISTED
Retail Opportunity Investments Corp.
ROIC
$476K 0.03%
21,960
+730
+3% +$14.8K
FFIN icon
962
First Financial Bankshares
FFIN
$5.04B
$475K 0.03%
28,840
+700
+2% +$11.1K
MSEX icon
963
Middlesex Water
MSEX
$1.11B
$475K 0.03%
10,950
– –
TNK icon
964
Teekay Tankers
TNK
$2.9B
$475K 0.03%
19,921
+13,412
+206% +$383K
ACRE
965
Ares Commercial Real Estate
ACRE
$264M
$474K 0.03%
37,800
– –
AWK icon
966
American Water Works
AWK
$27.1B
$474K 0.03%
5,610
+420
+8% +$31.2K
BHE icon
967
Benchmark Electronics
BHE
$2.89B
$474K 0.03%
22,410
+160
+0.7% +$3.34K
GRMN
968
Garmin
GRMN
$60.2B
$474K 0.03%
11,140
+2,890
+35% +$120K
OCFC icon
969
OceanFirst Financial
OCFC
$1.88B
$474K 0.03%
26,100
+25,100
+2,510% +$457K
ESS icon
970
Essex Property Trust
ESS
$18.5B
$473K 0.03%
2,060
+50
+2% +$11.2K
WAGE
971
DELISTED
WageWorks, Inc.
WAGE
$473K 0.03%
7,910
+270
+4% +$14.9K
ROK icon
972
Rockwell Automation
ROK
$49.5B
$472K 0.03%
4,110
+80
+2% +$9.16K
AMP icon
973
Ameriprise Financial
AMP
$50.4B
$470K 0.03%
5,230
+40
+0.8% +$3.87K
R icon
974
Ryder
R
$10.1B
$470K 0.03%
7,700
+2,760
+56% +$183K
SPLS
975
DELISTED
Staples Inc
SPLS
$470K 0.03%
53,780
+27,930
+108% +$266K
37 38
39
40 41

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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 Q2 2016 Portfolio in Review

As of Q2 2016, Municipal Employees' Retirement System of Michigan held 1,781 positions worth $1.85B, up 24% from $1.5B the previous quarter. Its ten largest holdings account for 6.9% of the portfolio.

Municipal Employees' Retirement System of Michigan deployed $294M of net new capital in Q2 2016, opening 28 new positions and adding to 1,420 existing holdings. Its largest new stake was Tallgrass Energy Partners, LP: 91,940 shares worth $4.23M.

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

On the sell side, the largest reduction was Acuity Brands, an estimated $3.3M trimmed.

  • Municipal Employees' Retirement System of Michigan's largest Q2 2016 buy was Tallgrass Energy Partners, LP: 91,940 shares worth $4.23M.
  • Municipal Employees' Retirement System of Michigan added most to RTX Corp in Q2 2016, an estimated $2.48M increase.
  • Municipal Employees' Retirement System of Michigan's biggest Q2 2016 reduction was Acuity Brands, cutting an estimated $3.3M.
  • Municipal Employees' Retirement System of Michigan fully exited JARDEN CORPORATION in Q2 2016, selling an estimated $4.06M.
  • Municipal Employees' Retirement System of Michigan's ten largest holdings make up 6.9% of its $1.85B portfolio in Q2 2016.
  • Municipal Employees' Retirement System of Michigan opened 28 new positions and closed 96 in Q2 2016.
  • Municipal Employees' Retirement System of Michigan's portfolio value rose 24% quarter-over-quarter to $1.85B.

Based on Municipal Employees' Retirement System of Michigan's 13F filing for Q2 2016, filed 15 Aug 2016.