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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
SSP icon
1251
E.W. Scripps
SSP
$310M
$319K 0.02%
20,830
+4,220
+25% +$79K
INFO
1252
DELISTED
IHS Markit Ltd. Common Shares
INFO
$319K 0.02%
5,000
+140
+3% +$8.04K
THC icon
1253
Tenet Healthcare
THC
$21.5B
$318K 0.02%
15,380
+350
+2% +$8.07K
ROCC
1254
DELISTED
Ranger Oil Corporation Class A Common Stock
ROCC
$318K 0.02%
10,360
+6,460
+166% +$241K
EGOV
1255
DELISTED
NIC Inc
EGOV
$318K 0.02%
19,850
+340
+2% +$5.63K
DNR
1256
DELISTED
Denbury Resources, Inc.
DNR
$318K 0.02%
256,560
+93,580
+57% +$170K
MCY icon
1257
Mercury Insurance
MCY
$5.81B
$313K 0.02%
5,010
+100
+2% +$5.58K
TPH
1258
DELISTED
Tri Pointe Homes
TPH
$313K 0.02%
26,190
+440
+2% +$5.73K
URBN icon
1259
Urban Outfitters
URBN
$6.53B
$313K 0.02%
13,740
– –
SWN
1260
DELISTED
Southwestern Energy Company
SWN
$313K 0.02%
99,010
– –
DLHC icon
1261
DLH Holdings
DLHC
$68.7M
$312K 0.02%
+61,430
New +$344K
MTSC
1262
DELISTED
MTS Systems Corp
MTSC
$312K 0.02%
5,330
-1,750
-25% -$97.4K
GTY
1263
Getty Realty Corp
GTY
$2.05B
$311K 0.02%
10,098
+130
+1% +$4.14K
DDD icon
1264
3D Systems Corp
DDD
$601M
$310K 0.02%
34,060
+590
+2% +$5.59K
UNIT
1265
Uniti Group
UNIT
$2.38B
$310K 0.02%
32,630
– –
QEP
1266
DELISTED
QEP RESOURCES, INC.
QEP
$310K 0.02%
42,870
– –
ESV
1267
DELISTED
Ensco Rowan plc
ESV
$310K 0.02%
36,394
+16,609
+84% +$192K
GPMT
1268
Granite Point Mortgage Trust
GPMT
$58.8M
$309K 0.02%
16,080
+1,050
+7% +$20K
IRT icon
1269
Independence Realty Trust
IRT
$4.01B
$308K 0.02%
26,580
+340
+1% +$3.73K
UFCS icon
1270
United Fire Group
UFCS
$1.38B
$308K 0.02%
6,360
+110
+2% +$5.03K
JWN
1271
DELISTED
Nordstrom
JWN
$306K 0.02%
9,610
+3,150
+49% +$119K
LHX icon
1272
L3Harris
LHX
$53.7B
$306K 0.02%
1,620
-3,970
-71% -$716K
SBSI icon
1273
Southside Bancshares
SBSI
$984M
$306K 0.02%
9,437
-2,550
-21% -$86.3K
FNJN
1274
DELISTED
Finjan Holdings, Inc.
FNJN
$306K 0.02%
137,660
+36,580
+36% +$98.4K
TYPE
1275
DELISTED
Monotype Imaging Holdings Inc.
TYPE
$306K 0.02%
18,180
+6,000
+49% +$107K
49 50
51
52 53

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VAS
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SFM
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AI
Ariel Investments Chicago, Illinois $8.93B AUM 29.58% 1-Year Est. Return
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 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.