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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
AUD
1726
DELISTED
Audacy, Inc.
AUD
– –
-152,960
Closed -$803K
AGFS
1727
DELISTED
AgroFresh Solutions Inc
AGFS
– –
-65,760
Closed -$220K
PCSB
1728
DELISTED
PCSB Financial Corporation
PCSB
– –
-35,480
Closed -$694K
ZVO
1729
DELISTED
Zovio Inc. Common Stock
ZVO
– –
-32,440
Closed -$198K
SRGA
1730
DELISTED
Surgalign Holdings, Inc. Common Stock
SRGA
– –
-6,462
Closed -$1.17M
MRLN
1731
DELISTED
Marlin Business Services Corp
MRLN
– –
-25,480
Closed -$548K
CAI
1732
DELISTED
CAI International, Inc.
CAI
– –
-20,130
Closed -$467K
JAX
1733
DELISTED
J. Alexander's Holdings, Inc.
JAX
– –
-38,750
Closed -$381K
NWHM
1734
DELISTED
THE NEW HOME COMPANY INC.
NWHM
– –
-58,610
Closed -$279K
ANH
1735
DELISTED
Anworth Mortgage Asset Corporation
ANH
– –
-162,450
Closed -$656K
INWK
1736
DELISTED
InnerWorkings, Inc.
INWK
– –
-126,060
Closed -$456K
BREW
1737
DELISTED
Craft Brew Alliance, Inc.
BREW
– –
-23,270
Closed -$325K
RTW
1738
DELISTED
RTW Retailwinds, Inc.
RTW
– –
-115,980
Closed -$278K
EQM
1739
DELISTED
EQM Midstream Partners, LP
EQM
– –
-148,220
Closed -$6.84M
PYX
1740
DELISTED
Pyxus International, Inc.
PYX
– –
-7,500
Closed -$179K
TGE
1741
DELISTED
Tallgrass Energy, LP Class A Shares
TGE
– –
-286,220
Closed -$7.2M
CRR
1742
DELISTED
Carbo Ceramics Inc.
CRR
– –
-6,260
Closed -$22K
HOS
1743
DELISTED
Hornbeck Offshore Services, Inc.
HOS
– –
-106,270
Closed -$132K
ARTX
1744
DELISTED
Arotech Corporation
ARTX
– –
-112,840
Closed -$331K
BPL
1745
DELISTED
Buckeye Partners, L.P.
BPL
– –
-208,130
Closed -$7.08M
PCMI
1746
DELISTED
PCM, Inc
PCMI
– –
-35,870
Closed -$1.31M
PES
1747
DELISTED
Pioneer Energy Services Corp.
PES
– –
-250,190
Closed -$443K
ANDX
1748
DELISTED
Andeavor Logistics LP
ANDX
– –
-176,690
Closed -$6.23M
BRSS
1749
DELISTED
Global Brass & Copper Hldgs, Inc
BRSS
– –
-32,020
Closed -$1.1M
BMS
1750
DELISTED
Bemis
BMS
– –
-16,590
Closed -$920K
67 68 69
70
71

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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 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.