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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
MJN
1751
DELISTED
Mead Johnson Nutrition Company
MJN
– –
-5,880
Closed -$524K
VAL
1752
DELISTED
Valspar
VAL
– –
-33,830
Closed -$3.75M
JNS
1753
DELISTED
Janus Capital Group Inc
JNS
– –
-65,640
Closed -$866K
UTEK
1754
DELISTED
Ultratech Inc.
UTEK
– –
-5,290
Closed -$157K
SALE
1755
DELISTED
RetailMeNot, Inc. Series 1
SALE
– –
-59,870
Closed -$485K
EXAR
1756
DELISTED
Exar Corporation
EXAR
– –
-9,590
Closed -$125K
FNBC
1757
DELISTED
First NBC Bank Holding Company
FNBC
– –
-3,840
Closed -$15K
HW
1758
DELISTED
Headwaters Inc
HW
– –
-16,810
Closed -$395K
SWC
1759
DELISTED
Stillwater Mining Co
SWC
– –
-27,500
Closed -$475K
ZLTQ
1760
DELISTED
ZELTIQ Aesthetics, Inc.
ZLTQ
– –
-8,220
Closed -$457K
XXIA
1761
DELISTED
Ixia
XXIA
– –
-14,450
Closed -$284K
BEAV
1762
DELISTED
B/E Aerospace Inc
BEAV
– –
-47,080
Closed -$3.02M
JOY
1763
DELISTED
Joy Global Inc
JOY
– –
-45,490
Closed -$1.28M
CEB
1764
DELISTED
CEB Inc.
CEB
– –
-14,800
Closed -$1.16M
CSC
1765
DELISTED
Computer Sciences
CSC
– –
-65,260
Closed -$4.5M
TNGO
1766
DELISTED
Tangoe, Inc.
TNGO
– –
-5,320
Closed -$28K
CNB
1767
DELISTED
COLONIAL BANCGROUP INC
CNB
– –
-23,300
Closed –
SNC
1768
DELISTED
State National Companies, Inc.
SNC
– –
-53,570
Closed -$771K
WNR
1769
DELISTED
Western Refining Inc
WNR
– –
-36,680
Closed -$1.29M
KMI.WS
1770
DELISTED
Kinder Morgan Inc
KMI.WS
– –
-15,360
Closed –
CFNL
1771
DELISTED
Cardinal Financial Corp
CFNL
– –
-7,500
Closed -$225K
AIRM
1772
DELISTED
Air Methods Corp
AIRM
– –
-7,550
Closed -$325K
WWAV
1773
DELISTED
The WhiteWave Foods Company
WWAV
– –
-82,130
Closed -$4.61M
LLEN
1774
DELISTED
L & L ENERGY INC COM STK (NV)
LLEN
– –
-48,200
Closed -$1K
ETP
1775
DELISTED
Energy Transfer Partners L.p.
ETP
– –
-88,940
Closed -$3.25M
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
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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 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.