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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
+2.38%
1 Year Est. Return
+13.04%
3 Year Est. Return
+34.61%
5 Year Est. Return
+23.86%
10 Year Est. Return
–
AUM
$2.01B
AUM Growth
-$109M
Cap. Flow
-$140M
Cap. Flow %
-6.96%
Top 10 Hldgs %
7.76%
Holding
1,778
New
98
Increased
613
Reduced
720
Closed
101

Top Buys

Rank Stock Value
1
RMP
Rice Midstream Partners LP
RMP
+$3.8M
2
STC icon
Stewart Information Services
STC
+$3.43M
3
BA icon
Boeing
BA
+$2.82M
4
RAI
Reynolds American Inc
RAI
+$2.82M
5
CHTR icon
Charter Communications
CHTR
+$2.77M

Top Sells

Rank Stock Value
1
WWAV
The WhiteWave Foods Company
WWAV
+$4.61M
2
CSC
Computer Sciences
CSC
+$4.5M
3
ARE icon
Alexandria Real Estate Equities
ARE
+$4.45M
4
ANSS
Ansys
ANSS
+$4.4M
5
ALGN icon
Align Technology
ALGN
+$4.37M

Sector Composition

Rank Sector Weight
1 Financials 15.68%
2 Industrials 13.88%
3 Technology 13.58%
4 Healthcare 11.48%
5 Consumer Discretionary 10.08%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ADPT
1676
DELISTED
Adeptus Health Inc
ADPT
$6K ﹤0.01%
3,380
-11,910
-78% -$18K
NEP
1677
DELISTED
CHINA NORTH EAST PETROLEUM HLDGS LTD
NEP
$5K ﹤0.01%
30,200
– –
ASC icon
1678
Ardmore Shipping
ASC
$681M
– –
-52,390
Closed -$422K
AWRE icon
1679
Aware
AWRE
$26M
– –
-58,300
Closed -$274K
BZH icon
1680
Beazer Homes USA
BZH
$874M
– –
-60,780
Closed -$737K
CAC icon
1681
Camden National
CAC
$990M
– –
-13,750
Closed -$606K
CNDT icon
1682
Conduent
CNDT
$241M
– –
-8,532
Closed -$143K
CVGI icon
1683
Commercial Vehicle Group
CVGI
$128M
– –
-127,460
Closed -$863K
CWBC
1684
Community West Bancshares
CWBC
$701M
– –
-31,850
Closed -$653K
DGICA icon
1685
Donegal Group Class A
DGICA
$692M
– –
-87,520
Closed -$1.54M
DHT icon
1686
DHT Holdings
DHT
$3.01B
– –
-80,370
Closed -$359K
FFIC
1687
DELISTED
Flushing Financial
FFIC
– –
-26,260
Closed -$706K
FISI icon
1688
Financial Institutions
FISI
$825M
– –
-16,650
Closed -$549K
FLL icon
1689
Full House Resorts
FLL
$83.5M
– –
-181,830
Closed -$442K
FONR
1690
DELISTED
Fonar
FONR
– –
-81,300
Closed -$1.43M
GSIT icon
1691
GSI Technology
GSIT
$255M
– –
-63,290
Closed -$551K
HFWA icon
1692
Heritage Financial
HFWA
$1.22B
– –
-23,850
Closed -$590K
HRTG icon
1693
Heritage Insurance Holdings
HRTG
$980M
– –
-82,010
Closed -$1.05M
III icon
1694
Information Services Group
III
$249M
– –
-113,220
Closed -$357K
INFU icon
1695
InfuSystem Holdings
INFU
$244M
– –
-197,360
Closed -$454K
IRMD icon
1696
iRadimed
IRMD
$1.12B
– –
-115,490
Closed -$1.03M
JOUT icon
1697
Johnson Outdoors
JOUT
$499M
– –
-8,000
Closed -$292K
KINS icon
1698
Kingstone Companies
KINS
$284M
– –
-56,120
Closed -$895K
KTCC icon
1699
Key Tronic
KTCC
$41.9M
– –
-94,060
Closed -$690K
KVHI icon
1700
KVH Industries
KVHI
$142M
– –
-33,150
Closed -$278K
66 67
68
69 70

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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
HI
Horizon Investments Charlotte, North Carolina $8.92B AUM 25.62% 1-Year Est. Return
PEA
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SUT
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MU
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WPL
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Municipal Employees' Retirement System of Michigan's Q2 2017 Portfolio in Review

As of Q2 2017, Municipal Employees' Retirement System of Michigan held 1,778 positions worth $2.01B, down 5.1% from $2.12B the previous quarter. Its ten largest holdings account for 7.8% of the portfolio.

Municipal Employees' Retirement System of Michigan withdrew a net $140M in Q2 2017, closing 101 positions and reducing 720 holdings. Its most notable exit was The WhiteWave Foods Company, an estimated $4.61M position sold in full.

By sector, the portfolio is most concentrated in Financials at 16% of assets, up from 16% a quarter earlier, followed by Industrials and Technology.

Against the trend, Municipal Employees' Retirement System of Michigan opened a new position in Rice Midstream Partners LP worth $3.16M.

  • Municipal Employees' Retirement System of Michigan's largest Q2 2017 buy was Rice Midstream Partners LP: 158,490 shares worth $3.16M.
  • Municipal Employees' Retirement System of Michigan added most to Stewart Information Services in Q2 2017, an estimated $3.43M increase.
  • Municipal Employees' Retirement System of Michigan's biggest Q2 2017 reduction was Alexandria Real Estate Equities, cutting an estimated $4.45M.
  • Municipal Employees' Retirement System of Michigan fully exited The WhiteWave Foods Company in Q2 2017, selling an estimated $4.61M.
  • Municipal Employees' Retirement System of Michigan's ten largest holdings make up 7.8% of its $2.01B portfolio in Q2 2017.
  • Municipal Employees' Retirement System of Michigan opened 98 new positions and closed 101 in Q2 2017.
  • Municipal Employees' Retirement System of Michigan's portfolio value fell 5.1% quarter-over-quarter to $2.01B.

Based on Municipal Employees' Retirement System of Michigan's 13F filing for Q2 2017, filed 26 Jul 2017.