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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
GLDD
1701
DELISTED
Great Lakes Dredge & Dock
GLDD
– –
-102,000
Closed -$455K
GOOD
1702
Gladstone Commercial Corp
GOOD
$630M
– –
-31,200
Closed -$511K
HFWA icon
1703
Heritage Financial
HFWA
$1.22B
– –
-16,200
Closed -$285K
HOFT icon
1704
Hooker Furnishings Corp
HOFT
$160M
– –
-9,700
Closed -$319K
HTBK
1705
DELISTED
Heritage Commerce
HTBK
– –
-27,150
Closed -$272K
IIIN icon
1706
Insteel Industries
IIIN
$635M
– –
-17,900
Closed -$547K
KE
1707
Kimball Electronics
KE
$606M
– –
-69,300
Closed -$774K
LRN icon
1708
Stride
LRN
$3.27B
– –
-18,500
Closed -$183K
MBWM icon
1709
Mercantile Bank Corp
MBWM
$1.06B
– –
-14,800
Closed -$332K
ADAM
1710
Adamas Trust
ADAM
$913M
– –
-25,925
Closed -$517K
OLP
1711
One Liberty Properties
OLP
$523M
– –
-13,800
Closed -$315K
OPY icon
1712
Oppenheimer Holdings
OPY
$1.23B
– –
-32,000
Closed -$505K
PFBC icon
1713
Preferred Bank
PFBC
$1.26B
– –
-4,700
Closed -$142K
RICK icon
1714
RCI Hospitality Holdings
RICK
$214M
– –
-26,500
Closed -$235K
RM icon
1715
Regional Management Corp
RM
$297M
– –
-23,000
Closed -$394K
HTO
1716
H2O America
HTO
$2.62B
– –
-12,700
Closed -$462K
SLP icon
1717
Simulations Plus
SLP
$371M
– –
-99,000
Closed -$874K
TLYS icon
1718
Tilly's
TLYS
$121M
– –
-30,600
Closed -$205K
TRGP icon
1719
Targa Resources
TRGP
$57.6B
– –
-69,657
Closed -$2.08M
TWIN icon
1720
Twin Disc
TWIN
$355M
– –
-22,700
Closed -$230K
VERU icon
1721
Veru
VERU
$46.7M
– –
-16,080
Closed -$301K
WCN
1722
Waste Connections
WCN
$41.6B
– –
-61,185
Closed -$2.63M
WSBF icon
1723
Waterstone Financial
WSBF
$378M
– –
-22,900
Closed -$313K
USAP
1724
DELISTED
Universal Stainless & Alloy
USAP
– –
-30,000
Closed -$306K
SP
1725
DELISTED
SP Plus Corporation
SP
– –
-32,600
Closed -$784K
67 68
69
70 71

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VAS
Vestmark Advisory Solutions Wakefield, Massachusetts $9.02B AUM 20.58% 1-Year Est. Return
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
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WPL
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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.