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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
CALY
1401
Callaway Golf Company
CALY
$2.95B
$217K 0.01%
21,260
+580
+3% +$5.58K
MRCY icon
1402
Mercury Systems
MRCY
$6.59B
$217K 0.01%
8,730
-16,630
-66% -$358K
HMTV
1403
DELISTED
Hemisphere Media Group, Inc.
HMTV
$217K 0.01%
18,390
– –
ORIT
1404
DELISTED
Oritani Financial Corp. New
ORIT
$217K 0.01%
13,540
+350
+3% +$5.83K
CVGW
1405
DELISTED
Calavo Growers
CVGW
$216K 0.01%
3,230
+90
+3% +$5.34K
UA icon
1406
Under Armour Class C
UA
$2.25B
$216K 0.01%
+5,921
New +$218K
ALOG
1407
DELISTED
Analogic Corp
ALOG
$214K 0.01%
2,700
+60
+2% +$4.84K
ASC icon
1408
Ardmore Shipping
ASC
$707M
$212K 0.01%
31,300
+23,300
+291% +$203K
CBB
1409
DELISTED
Cincinnati Bell Inc.
CBB
$212K 0.01%
9,298
+128
+1% +$2.52K
ALLE icon
1410
Allegion
ALLE
$14.2B
$210K 0.01%
3,020
+70
+2% +$4.65K
AVY icon
1411
Avery Dennison
AVY
$13.6B
$210K 0.01%
2,810
-4,910
-64% -$365K
NPO icon
1412
Enpro
NPO
$7.12B
$210K 0.01%
4,740
+80
+2% +$4.14K
STC icon
1413
Stewart Information Services
STC
$2.07B
$210K 0.01%
5,080
+340
+7% +$12.5K
KND
1414
DELISTED
Kindred Healthcare
KND
$210K 0.01%
18,620
+700
+4% +$8.76K
NSIT icon
1415
Insight Enterprises
NSIT
$4.6B
$209K 0.01%
8,020
+110
+1% +$2.94K
RY icon
1416
Royal Bank of Canada
RY
$299B
$209K 0.01%
3,534
– –
TE
1417
DELISTED
TECO ENERGY INC
TE
$208K 0.01%
7,510
+160
+2% +$4.42K
KVHI icon
1418
KVH Industries
KVHI
$143M
$207K 0.01%
26,860
+16,400
+157% +$143K
TNC icon
1419
Tennant Co
TNC
$1.15B
$207K 0.01%
3,850
+100
+3% +$5.32K
ETFC
1420
DELISTED
E*Trade Financial Corporation
ETFC
$207K 0.01%
8,830
-5,640
-39% -$143K
ANDE icon
1421
Andersons Inc
ANDE
$2.21B
$205K 0.01%
5,730
+150
+3% +$4.91K
EIG icon
1422
Employers Holdings
EIG
$871M
$205K 0.01%
7,080
+240
+4% +$6.96K
CIR
1423
DELISTED
CIRCOR International, Inc
CIR
$204K 0.01%
3,580
+100
+3% +$5.38K
BSQR
1424
DELISTED
BSQUARE Corporation
BSQR
$203K 0.01%
36,410
– –
BWA icon
1425
BorgWarner
BWA
$13.8B
$202K 0.01%
7,770
+125
+2% +$3.78K
55 56
57
58 59

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VAS
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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.