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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
JCI icon
301
Johnson Controls International
JCI
$92.5B
$1.09M 0.07%
29,607
-12,050
-29% -$413K
HSY icon
302
Hershey
HSY
$37.3B
$1.09M 0.07%
9,510
-1,850
-16% -$201K
KOP icon
303
Koppers
KOP
$873M
$1.09M 0.07%
42,010
– –
TSN icon
304
Tyson Foods
TSN
$19.9B
$1.09M 0.07%
15,700
-3,810
-20% -$236K
RGLD icon
305
Royal Gold
RGLD
$19.2B
$1.09M 0.07%
11,940
-3,800
-24% -$332K
ORI icon
306
Old Republic International
ORI
$10.3B
$1.08M 0.07%
51,860
-16,470
-24% -$342K
FCN icon
307
FTI Consulting
FCN
$4.17B
$1.08M 0.07%
14,120
+200
+1% +$14.1K
MOG.A icon
308
Moog Inc Class A
MOG.A
$13.6B
$1.08M 0.07%
12,440
+140
+1% +$12.2K
WOLF icon
309
Wolfspeed
WOLF
$1.63B
$1.08M 0.07%
18,880
-5,580
-23% -$286K
GBCI icon
310
Glacier Bancorp
GBCI
$6.47B
$1.08M 0.07%
26,900
+330
+1% +$13.9K
CTLT
311
DELISTED
CATALENT, INC.
CTLT
$1.08M 0.07%
26,500
-8,320
-24% -$325K
SABR icon
312
Sabre
SABR
$876M
$1.07M 0.07%
50,190
-15,930
-24% -$354K
VRTX icon
313
Vertex Pharmaceuticals
VRTX
$132B
$1.07M 0.07%
5,840
-3,400
-37% -$628K
STT icon
314
State Street
STT
$52.3B
$1.07M 0.07%
16,310
-5,000
-23% -$347K
XPO icon
315
XPO
XPO
$25.1B
$1.07M 0.07%
+57,741
New +$1.11M
TREX icon
316
Trex
TREX
$5.08B
$1.06M 0.07%
34,600
+620
+2% +$21.7K
BMY icon
317
Bristol-Myers Squibb
BMY
$132B
$1.05M 0.07%
22,100
-21,720
-50% -$1.08M
EPR icon
318
EPR Properties
EPR
$4.77B
$1.05M 0.07%
13,700
-4,170
-23% -$303K
CCMP
319
DELISTED
CMC Materials, Inc. Common Stock
CCMP
$1.05M 0.07%
9,410
+390
+4% +$40.4K
EHC icon
320
Encompass Health
EHC
$12.2B
$1.05M 0.07%
22,664
-7,202
-24% -$365K
STZ icon
321
Constellation Brands
STZ
$23.2B
$1.05M 0.07%
6,010
-2,260
-27% -$381K
CBSH icon
322
Commerce Bancshares
CBSH
$8.6B
$1.05M 0.07%
25,459
-7,839
-24% -$336K
FAF icon
323
First American
FAF
$7.5B
$1.05M 0.07%
20,380
-6,450
-24% -$320K
HCA icon
324
HCA Healthcare
HCA
$88.6B
$1.05M 0.07%
8,030
-3,840
-32% -$516K
CCL icon
325
Carnival Corporation Ltd
CCL
$38.8B
$1.04M 0.07%
20,490
-5,340
-21% -$296K
11 12
13
14 15

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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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MU
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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.