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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
PLOW icon
1701
Douglas Dynamics
PLOW
$981M
– –
-13,480
Closed -$513K
RC
1702
Ready Capital
RC
$289M
– –
-43,750
Closed -$642K
RICK icon
1703
RCI Hospitality Holdings
RICK
$214M
– –
-12,690
Closed -$291K
RLGT icon
1704
Radiant Logistics
RLGT
$400M
– –
-202,720
Closed -$1.28M
RVSB icon
1705
Riverview Bancorp
RVSB
$106M
– –
-76,010
Closed -$556K
SHBI icon
1706
Shore Bancshares
SHBI
$801M
– –
-38,690
Closed -$577K
SLP icon
1707
Simulations Plus
SLP
$371M
– –
-67,110
Closed -$1.42M
SRI icon
1708
Stoneridge
SRI
$197M
– –
-17,930
Closed -$517K
TPB icon
1709
Turning Point Brands
TPB
$1.73B
– –
-17,890
Closed -$825K
TPIC
1710
DELISTED
TPI Composites
TPIC
– –
-30,610
Closed -$876K
UTL icon
1711
Unitil
UTL
$984M
– –
-13,220
Closed -$716K
WES icon
1712
Western Midstream Partners
WES
$19.9B
– –
-211,319
Closed -$6.63M
WTI icon
1713
W&T Offshore
WTI
$555M
– –
-116,960
Closed -$807K
PHLT
1714
DELISTED
Performant Healthcare Inc
PHLT
– –
-74,640
Closed -$155K
ENLC
1715
DELISTED
ENLINK MIDSTREAM, LLC
ENLC
– –
-558,785
Closed -$7.14M
PMD
1716
DELISTED
Psychemedics Corporation
PMD
– –
-58,900
Closed -$826K
TCS
1717
DELISTED
THE CONTAINER STORE GROUP, INC.
TCS
– –
-3,479
Closed -$459K
OSG
1718
DELISTED
Overseas Shipholding Group Inc.
OSG
– –
-168,400
Closed -$386K
DSKE
1719
DELISTED
Daseke, Inc. Common Stock
DSKE
– –
-106,020
Closed -$540K
SALM
1720
DELISTED
Salem Media Group, Inc. Class A Common Stock
SALM
– –
-101,150
Closed -$258K
PCTI
1721
DELISTED
PCTEL, Inc. Common Stock
PCTI
– –
-97,340
Closed -$488K
CTG
1722
DELISTED
Computer Task Group, Inc.
CTG
– –
-105,950
Closed -$456K
MMP
1723
DELISTED
Magellan Midstream Partners, L.P.
MMP
– –
-108,250
Closed -$6.56M
IMBI
1724
DELISTED
iMedia Brands, Inc. Class A Common Stock
IMBI
– –
-34,418
Closed -$161K
DCP
1725
DELISTED
DCP Midstream, LP
DCP
– –
-208,910
Closed -$6.9M
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
SC US (TTGP) Menlo Park, California $9.25B AUM 20.49% 1-Year Est. Return
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 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.