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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
WSBF icon
1726
Waterstone Financial
WSBF
$378M
– –
-29,250
Closed -$534K
YORW icon
1727
York Water
YORW
$528M
– –
-9,800
Closed -$343K
MCBC
1728
DELISTED
Macatawa Bank Corp
MCBC
– –
-55,680
Closed -$550K
HIL
1729
DELISTED
Hill International, Inc. Common Stock
HIL
– –
-178,510
Closed -$741K
ALJJ
1730
DELISTED
ALJ Regional Holdings Inc
ALJJ
– –
-134,670
Closed -$501K
HBP
1731
DELISTED
Huttig Building Products, Inc.
HBP
– –
-131,580
Closed -$1.07M
SLCT
1732
DELISTED
Select Bancorp, Inc.
SLCT
– –
-59,480
Closed -$653K
NNA
1733
DELISTED
Navios Maritime Acquisition Corporation
NNA
– –
-23,775
Closed -$613K
PRGX
1734
DELISTED
PRGX Global, Inc.
PRGX
– –
-60,870
Closed -$390K
GSB
1735
DELISTED
GlobalSCAPE, Inc.
GSB
– –
-80,600
Closed -$316K
BFYT
1736
DELISTED
Benefytt Technologies, Inc. Class A Common Stock
BFYT
– –
-60,560
Closed -$969K
TUES
1737
DELISTED
Tuesday Morning Corp
TUES
– –
-21,880
Closed -$82K
LBY
1738
DELISTED
Libbey, Inc.
LBY
– –
-26,060
Closed -$380K
HOS
1739
DELISTED
Hornbeck Offshore Services, Inc.
HOS
– –
-7,260
Closed -$32K
ARTX
1740
DELISTED
Arotech Corporation
ARTX
– –
-93,830
Closed -$277K
DFRG
1741
DELISTED
Del Frisco's Restaurant Group, Inc. Common Stock
DFRG
– –
-19,300
Closed -$348K
ANCX
1742
DELISTED
Access National Corp
ANCX
– –
-19,440
Closed -$584K
KMG
1743
DELISTED
KMG Chemicals Inc
KMG
– –
-18,610
Closed -$857K
CGI
1744
DELISTED
Celadon Group Inc
CGI
– –
-6,220
Closed -$41K
STS
1745
DELISTED
Supreme Industries Inc Class A
STS
– –
-36,330
Closed -$736K
UCP
1746
DELISTED
UCP, Inc.
UCP
– –
-30,140
Closed -$306K
SNOW
1747
DELISTED
Intrawest Resorts Holdings, Inc.
SNOW
– –
-19,240
Closed -$481K
CST
1748
DELISTED
CST Brands, Inc.
CST
– –
-35,080
Closed -$1.69M
PVTB
1749
DELISTED
PrivateBancorp Inc
PVTB
– –
-36,920
Closed -$2.19M
YHOO
1750
DELISTED
Yahoo Inc
YHOO
– –
-28,200
Closed -$1.31M
67 68 69
70
71

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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
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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.