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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
CONE
326
DELISTED
CyrusOne Inc Common Stock
CONE
$1.04M 0.07%
19,800
-5,340
-21% -$279K
AXP icon
327
American Express
AXP
$231B
$1.04M 0.07%
9,480
-9,470
-50% -$995K
CFG icon
328
Citizens Financial Group
CFG
$31.3B
$1.03M 0.07%
31,700
-6,600
-17% -$229K
AXE
329
DELISTED
Anixter International Inc
AXE
$1.03M 0.07%
18,340
+120
+0.7% +$7.01K
CATO icon
330
Cato Corp
CATO
$66.7M
$1.03M 0.07%
68,550
+200
+0.3% +$2.96K
LYB icon
331
LyondellBasell Industries
LYB
$20.2B
$1.02M 0.07%
12,160
-4,260
-26% -$368K
ACLS icon
332
Axcelis
ACLS
$4.46B
$1.02M 0.07%
50,520
+140
+0.3% +$2.84K
NX icon
333
Quanex
NX
$981M
$1.01M 0.07%
63,750
– –
CKH
334
DELISTED
Seacor Holdings Inc.
CKH
$1.01M 0.07%
23,940
+80
+0.3% +$3.41K
MPC icon
335
Marathon Petroleum
MPC
$98.9B
$1.01M 0.07%
16,848
-8,660
-34% -$545K
LMT icon
336
Lockheed Martin
LMT
$138B
$1.01M 0.07%
3,350
-3,300
-50% -$968K
BRX icon
337
Brixmor Property Group
BRX
$9.16B
$1M 0.07%
+54,660
New +$932K
ELV icon
338
Elevance Health
ELV
$86.7B
$1M 0.07%
3,500
-3,450
-50% -$998K
SNV
339
DELISTED
Synovus
SNV
$1M 0.07%
29,110
+910
+3% +$33.4K
VSM
340
DELISTED
Versum Materials, Inc.
VSM
$1M 0.07%
19,880
-6,300
-24% -$251K
DCH
341
Dauch Corp
DCH
$1.58B
$999K 0.07%
69,750
+440
+0.6% +$6.36K
MMSI icon
342
Merit Medical Systems
MMSI
$5.42B
$998K 0.07%
16,140
+310
+2% +$17.6K
CLW icon
343
Clearwater Paper
CLW
$353M
$996K 0.07%
51,120
+150
+0.3% +$4.32K
SR icon
344
Spire
SR
$4.91B
$996K 0.07%
12,110
-5,420
-31% -$423K
USB icon
345
US Bancorp
USB
$102B
$991K 0.07%
20,560
-20,800
-50% -$1.04M
FLG
346
Flagstar Bank National Association
FLG
$5.94B
$989K 0.07%
28,493
-10,790
-27% -$371K
GNTX icon
347
Gentex
GNTX
$4.98B
$988K 0.07%
47,780
-16,850
-26% -$352K
ZEUS
348
DELISTED
Olympic Steel
ZEUS
$988K 0.07%
62,240
– –
RGP icon
349
Resources Connection
RGP
$145M
$985K 0.07%
59,490
– –
CY
350
DELISTED
Cypress Semiconductor
CY
$984K 0.07%
65,980
-20,910
-24% -$303K
12 13
14
15 16

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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.