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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
PCTI
1726
DELISTED
PCTEL, Inc. Common Stock
PCTI
– –
-42,410
Closed -$203K
WTT
1727
DELISTED
Wireless Telecom Group, Inc.
WTT
– –
-165,000
Closed -$218K
MN
1728
DELISTED
MANNING & NAPIER, INC.
MN
– –
-103,900
Closed -$838K
TSC
1729
DELISTED
TriState Capital Holdings, Inc.
TSC
– –
-23,500
Closed -$296K
GTS
1730
DELISTED
Triple-S Management Corporation
GTS
– –
-108,474
Closed -$2.57M
MRLN
1731
DELISTED
Marlin Business Services Corp
MRLN
– –
-19,700
Closed -$282K
BMTC
1732
DELISTED
Bryn Mawr Bank Corp
BMTC
– –
-9,700
Closed -$250K
RNET
1733
DELISTED
RigNet, Inc.
RNET
– –
-6,400
Closed -$88K
ZAGG
1734
DELISTED
ZAGG Inc Common Stock (Delaware)
ZAGG
– –
-10,600
Closed -$96K
INWK
1735
DELISTED
InnerWorkings, Inc.
INWK
– –
-54,100
Closed -$430K
SHLO
1736
DELISTED
Shiloh Industries Inc
SHLO
– –
-74,690
Closed -$383K
DFRG
1737
DELISTED
Del Frisco's Restaurant Group, Inc. Common Stock
DFRG
– –
-21,700
Closed -$360K
MSL
1738
DELISTED
Midsouth Bancorp, Inc.
MSL
– –
-24,990
Closed -$193K
CBK
1739
DELISTED
Christopher & Banks Corporation
CBK
– –
-237,600
Closed -$568K
PNK
1740
DELISTED
Pinnacle Entertainment Inc.
PNK
– –
-12,700
Closed -$446K
XCRA
1741
DELISTED
Xcerra Corporation
XCRA
– –
-56,400
Closed -$368K
SGBK
1742
DELISTED
Stonegate Bank
SGBK
– –
-9,400
Closed -$282K
NCIT
1743
DELISTED
NCI, Inc.
NCIT
– –
-30,400
Closed -$426K
TRR
1744
DELISTED
Trc Companies
TRR
– –
-23,900
Closed -$173K
COWN
1745
DELISTED
Cowen Inc. Class A Common Stock
COWN
– –
-34,550
Closed -$527K
SKUL
1746
DELISTED
SKULLCANDY INC
SKUL
– –
-13,800
Closed -$49K
MFLX
1747
DELISTED
MULTI-FINELINE ELECTRONIX INC
MFLX
– –
-41,900
Closed -$972K
CSCD
1748
DELISTED
CASCADE MICROTECH, INC.
CSCD
– –
-4,900
Closed -$101K
CVC
1749
DELISTED
CABLEVISION SYS CP NY GRP CL-A
CVC
– –
-6,890
Closed -$227K
BXLT
1750
DELISTED
BAXALTA INC COM STK (DE)
BXLT
– –
-18,090
Closed -$732K
68 69
70
71 72

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AI
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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.