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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
CIEN icon
351
Ciena
CIEN
$64.3B
$982K 0.07%
26,310
-7,960
-23% -$309K
MDLZ icon
352
Mondelez International
MDLZ
$80.9B
$982K 0.07%
19,680
-19,700
-50% -$904K
SMTC icon
353
Semtech
SMTC
$12.8B
$982K 0.07%
19,290
+140
+0.7% +$7.23K
NCLH icon
354
Norwegian Cruise Line
NCLH
$8.83B
$981K 0.07%
17,850
-2,940
-14% -$152K
MPWR icon
355
Monolithic Power Systems
MPWR
$69.1B
$978K 0.07%
7,220
-2,130
-23% -$280K
VBTX
356
DELISTED
Veritex Holdings
VBTX
$973K 0.06%
40,211
+6,341
+19% +$160K
KSU
357
DELISTED
Kansas City Southern
KSU
$972K 0.06%
8,380
-1,350
-14% -$146K
LECO icon
358
Lincoln Electric
LECO
$15.3B
$970K 0.06%
11,570
-4,090
-26% -$347K
OMCL icon
359
Omnicell
OMCL
$1.7B
$969K 0.06%
11,990
+630
+6% +$47.2K
TTEK icon
360
Tetra Tech
TTEK
$9.18B
$967K 0.06%
81,150
+1,150
+1% +$12.9K
EQT icon
361
EQT Corp
EQT
$33.6B
$962K 0.06%
46,380
-17,070
-27% -$334K
IRBT
362
DELISTED
iRobot
IRBT
$962K 0.06%
8,170
+280
+4% +$29.8K
OSK icon
363
Oshkosh
OSK
$9.42B
$962K 0.06%
12,810
-4,760
-27% -$352K
WWD icon
364
Woodward
WWD
$21.4B
$962K 0.06%
10,140
-3,200
-24% -$283K
WWW icon
365
Wolverine World Wide
WWW
$1.63B
$961K 0.06%
26,900
-600
-2% -$21K
AMAT icon
366
Applied Materials
AMAT
$443B
$958K 0.06%
24,140
-13,410
-36% -$509K
BOOT icon
367
Boot Barn
BOOT
$4.98B
$958K 0.06%
32,530
– –
PLAB icon
368
Photronics
PLAB
$1.98B
$957K 0.06%
101,330
+350
+0.3% +$3.55K
PRI icon
369
Primerica
PRI
$9.62B
$956K 0.06%
7,830
-2,500
-24% -$288K
NFG icon
370
National Fuel Gas
NFG
$7.72B
$955K 0.06%
15,670
-4,990
-24% -$290K
GPI icon
371
Group 1 Automotive
GPI
$3.13B
$954K 0.06%
14,750
+10
+0.1% +$608
AEL
372
DELISTED
American Equity Investment Life Holding Company
AEL
$951K 0.06%
35,200
+490
+1% +$14.8K
LHCG
373
DELISTED
LHC Group LLC
LHCG
$949K 0.06%
8,557
+130
+2% +$13.9K
ADP icon
374
Automatic Data Processing
ADP
$108B
$947K 0.06%
5,930
-5,830
-50% -$847K
NEM icon
375
Newmont
NEM
$120B
$947K 0.06%
26,460
-6,930
-21% -$235K
13 14
15
16 17

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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
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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.