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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
+15.07%
1 Year Est. Return
+13.04%
3 Year Est. Return
+34.61%
5 Year Est. Return
+23.86%
10 Year Est. Return
–
AUM
$1.5B
AUM Growth
-$189M
Cap. Flow
-$393M
Cap. Flow %
-26.17%
Top 10 Hldgs %
7.14%
Holding
1,714
New
39
Increased
483
Reduced
919
Closed
31

Top Buys

Rank Stock Value
1
WES icon
Western Midstream Partners
WES
+$6.71M
2
ENLC
ENLINK MIDSTREAM, LLC
ENLC
+$6.31M
3
AM icon
Antero Midstream
AM
+$6.08M
4
CEQP
Crestwood Equity Partners LP
CEQP
+$1.53M
5
DCP
DCP Midstream, LP
DCP
+$1.51M

Top Sells

Rank Stock Value
1
ENB icon
Enbridge
ENB
+$12.5M
2
MSFT icon
Microsoft
MSFT
+$11M
3
AAPL icon
Apple
AAPL
+$10.6M
4
AMZN icon
Amazon
AMZN
+$9.05M
5
WES
Western Gas Partners Lp
WES
+$5.68M

Sector Composition

Rank Sector Weight
1 Financials 14.21%
2 Energy 13.82%
3 Technology 13.12%
4 Industrials 13.11%
5 Consumer Discretionary 10.15%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ICHR icon
276
Ichor Holdings
ICHR
$2.72B
$1.15M 0.08%
50,730
– –
GILD icon
277
Gilead Sciences
GILD
$170B
$1.14M 0.08%
17,510
-17,300
-50% -$1.15M
CC icon
278
Chemours
CC
$2.27B
$1.14M 0.08%
30,550
-11,950
-28% -$435K
CFR icon
279
Cullen/Frost Bankers
CFR
$10.5B
$1.13M 0.08%
11,660
-3,700
-24% -$367K
DNKN
280
DELISTED
Dunkin' Brands Group, Inc.
DNKN
$1.13M 0.08%
15,060
-5,070
-25% -$355K
CACI icon
281
CACI
CACI
$14.8B
$1.12M 0.07%
6,170
-1,410
-19% -$240K
PCAR icon
282
PACCAR
PCAR
$68B
$1.12M 0.07%
24,750
-6,900
-22% -$300K
BIO icon
283
Bio-Rad Laboratories Class A
BIO
$9.66B
$1.12M 0.07%
3,670
-1,150
-24% -$310K
CMA
284
DELISTED
Comerica
CMA
$1.12M 0.07%
15,280
-2,350
-13% -$188K
WBA
285
DELISTED
Walgreens Boots Alliance
WBA
$1.12M 0.07%
17,720
-11,730
-40% -$801K
SON icon
286
Sonoco
SON
$5.75B
$1.12M 0.07%
18,200
-5,740
-24% -$330K
AVY icon
287
Avery Dennison
AVY
$13.5B
$1.12M 0.07%
9,900
-1,110
-10% -$115K
FCFS icon
288
FirstCash
FCFS
$9.31B
$1.11M 0.07%
12,877
– –
RNR icon
289
RenaissanceRe
RNR
$13.3B
$1.11M 0.07%
7,720
-1,960
-20% -$274K
RS icon
290
Reliance Steel & Aluminium
RS
$21.8B
$1.11M 0.07%
12,270
-5,120
-29% -$427K
VLO icon
291
Valero Energy
VLO
$96.3B
$1.11M 0.07%
13,040
-5,670
-30% -$468K
BRSS
292
DELISTED
Global Brass & Copper Hldgs, Inc
BRSS
$1.1M 0.07%
32,020
– –
DHR icon
293
Danaher
DHR
$143B
$1.1M 0.07%
9,419
-9,227
-49% -$946K
HAFC icon
294
Hanmi Financial
HAFC
$960M
$1.1M 0.07%
51,750
– –
BKNG icon
295
Booking.com
BKNG
$159B
$1.1M 0.07%
15,750
-16,250
-51% -$1.16M
UCTT
296
Ultra Clean Holdings
UCTT
$4.23B
$1.1M 0.07%
106,200
+430
+0.4% +$4.61K
DXPE icon
297
DXP Enterprises
DXPE
$3.02B
$1.1M 0.07%
28,210
+170
+0.6% +$5.92K
SIGI icon
298
Selective Insurance
SIGI
$5.57B
$1.1M 0.07%
17,330
+310
+2% +$19.5K
SXC icon
299
SunCoke Energy
SXC
$792M
$1.1M 0.07%
129,150
+260
+0.2% +$2.52K
VRS
300
DELISTED
Verso Corporation
VRS
$1.1M 0.07%
51,170
– –
10 11
12
13 14

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VAS
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SFM
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AI
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HI
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PEA
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SUT
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WPL
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Municipal Employees' Retirement System of Michigan's Q1 2019 Portfolio in Review

As of Q1 2019, Municipal Employees' Retirement System of Michigan held 1,714 positions worth $1.5B, down 11% from $1.69B the previous quarter. Its ten largest holdings account for 7.1% of the portfolio.

Municipal Employees' Retirement System of Michigan withdrew a net $393M in Q1 2019, closing 31 positions and reducing 919 holdings. Its most notable exit was Enbridge, an estimated $12.5M position sold in full.

By sector, the portfolio is most concentrated in Financials at 14% of assets, down from 15% a quarter earlier, followed by Energy and Technology.

Against the trend, Municipal Employees' Retirement System of Michigan opened a new position in Western Midstream Partners worth $6.63M.

  • Municipal Employees' Retirement System of Michigan's largest Q1 2019 buy was Western Midstream Partners: 211,319 shares worth $6.63M.
  • Municipal Employees' Retirement System of Michigan added most to Crestwood Equity Partners LP in Q1 2019, an estimated $1.53M increase.
  • Municipal Employees' Retirement System of Michigan's biggest Q1 2019 reduction was Microsoft, cutting an estimated $11M.
  • Municipal Employees' Retirement System of Michigan fully exited Enbridge in Q1 2019, selling an estimated $12.5M.
  • Municipal Employees' Retirement System of Michigan's ten largest holdings make up 7.1% of its $1.5B portfolio in Q1 2019.
  • Municipal Employees' Retirement System of Michigan opened 39 new positions and closed 31 in Q1 2019.
  • Municipal Employees' Retirement System of Michigan's portfolio value fell 11% quarter-over-quarter to $1.5B.

Based on Municipal Employees' Retirement System of Michigan's 13F filing for Q1 2019, filed 15 May 2019.