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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
CIVI
1676
DELISTED
Civitas Resources
CIVI
$18K ﹤0.01%
80
+3
+4% +$898
GLF
1677
DELISTED
GulfMark Offshore, Inc. Common Stock
GLF
$18K ﹤0.01%
5,610
+80
+1% +$365
IPI icon
1678
Intrepid Potash
IPI
$490M
$17K ﹤0.01%
1,198
+3
+0.3% +$38
HHS icon
1679
Harte-Hanks
HHS
$18.6M
$16K ﹤0.01%
1,025
+24
+2% +$424
BAS
1680
DELISTED
Basis Energy Services, Inc.
BAS
$14K ﹤0.01%
15
– –
VOXX
1681
DELISTED
VOXX International Corporation Class A
VOXX
$12K ﹤0.01%
4,330
-100
-2% -$372
UTI icon
1682
Universal Technical Institute
UTI
$1.41B
$10K ﹤0.01%
4,580
+90
+2% +$307
NEP
1683
DELISTED
CHINA NORTH EAST PETROLEUM HLDGS LTD
NEP
$5K ﹤0.01%
30,200
– –
LLEN
1684
DELISTED
L & L ENERGY INC COM STK (NV)
LLEN
$1K ﹤0.01%
48,200
– –
AAOI icon
1685
Applied Optoelectronics
AAOI
$11.7B
– –
-8,900
Closed -$133K
AGM icon
1686
Federal Agricultural Mortgage
AGM
$2.58B
– –
-19,500
Closed -$736K
AHRT
1687
AH Realty Trust
AHRT
$501M
– –
-22,500
Closed -$260K
ALTO icon
1688
Alto Ingredients
ALTO
$315M
– –
-85,300
Closed -$399K
AMRC icon
1689
Ameresco
AMRC
$1.47B
– –
-74,600
Closed -$356K
ARI
1690
Apollo Commercial Real Estate
ARI
$885M
– –
-12,200
Closed -$211K
BSET icon
1691
Bassett Furniture
BSET
$171M
– –
-10,500
Closed -$335K
CECO icon
1692
Ceco Environmental
CECO
$4.44B
– –
-30,900
Closed -$192K
CVLG icon
1693
Covenant Logistics
CVLG
$865M
– –
-35,200
Closed -$426K
DCO icon
1694
Ducommun
DCO
$3.04B
– –
-19,500
Closed -$297K
EFSC icon
1695
Enterprise Financial Services Corp
EFSC
$2.41B
– –
-12,300
Closed -$333K
FBIZ icon
1696
First Business Financial Services
FBIZ
$593M
– –
-5,100
Closed -$117K
FC icon
1697
Franklin Covey
FC
$234M
– –
-15,300
Closed -$269K
FFIC
1698
DELISTED
Flushing Financial
FFIC
– –
-20,400
Closed -$441K
FRST icon
1699
Primis Financial Corp
FRST
$411M
– –
-25,800
Closed -$308K
GHM icon
1700
Graham Corp
GHM
$1.33B
– –
-14,800
Closed -$295K
66 67
68
69 70

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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
HI
Horizon Investments Charlotte, North Carolina $8.92B AUM 25.62% 1-Year Est. Return
PEA
Platinum Equity Advisors Beverly Hills, California $8.88B AUM 27.09% 1-Year Est. Return
SUT
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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

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.