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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
DGX icon
376
Quest Diagnostics
DGX
$26.1B
$944K 0.06%
10,490
-1,840
-15% -$159K
WPX
377
DELISTED
WPX Energy, Inc.
WPX
$944K 0.06%
72,020
-22,860
-24% -$287K
QCOM icon
378
Qualcomm
QCOM
$174B
$943K 0.06%
16,530
-16,020
-49% -$865K
RCL icon
379
Royal Caribbean
RCL
$82.8B
$943K 0.06%
8,230
-2,280
-22% -$259K
MGLN
380
DELISTED
Magellan Health Services, Inc.
MGLN
$943K 0.06%
14,300
– –
ARRS
381
DELISTED
ARRIS International plc Ordinary Shares
ARRS
$942K 0.06%
29,790
-11,240
-27% -$352K
AXON
382
Axon Enterprise
AXON
$49B
$941K 0.06%
17,290
+420
+2% +$21.5K
BLD
383
DELISTED
TopBuild
BLD
$941K 0.06%
14,520
+60
+0.4% +$3.38K
TDC icon
384
Teradata
TDC
$2.51B
$941K 0.06%
21,550
-7,070
-25% -$318K
CHE icon
385
Chemed
CHE
$7.08B
$935K 0.06%
2,920
-950
-25% -$292K
FAST icon
386
Fastenal
FAST
$59B
$934K 0.06%
58,080
-15,280
-21% -$230K
PFG icon
387
Principal Financial Group
PFG
$24.5B
$933K 0.06%
18,590
-3,400
-15% -$169K
UTHR icon
388
United Therapeutics
UTHR
$21.5B
$933K 0.06%
7,950
-2,520
-24% -$294K
CCOI icon
389
Cogent Communications
CCOI
$530M
$931K 0.06%
17,160
+170
+1% +$8.37K
TGT icon
390
Target
TGT
$70.4B
$930K 0.06%
11,580
-7,050
-38% -$515K
FFIC
391
DELISTED
Flushing Financial
FFIC
$927K 0.06%
42,280
– –
ITT icon
392
ITT
ITT
$19.3B
$926K 0.06%
15,970
-5,080
-24% -$277K
FLWS icon
393
1-800-Flowers.com
FLWS
$263M
$925K 0.06%
50,740
– –
MDU icon
394
MDU Resources
MDU
$4.29B
$923K 0.06%
93,966
-29,928
-24% -$291K
CZR
395
DELISTED
Caesars Entertainment Corporation
CZR
$923K 0.06%
+106,220
New +$921K
PSB
396
DELISTED
PS Business Parks, Inc.
PSB
$921K 0.06%
5,870
+100
+2% +$14.6K
PHM icon
397
Pultegroup
PHM
$24.7B
$920K 0.06%
32,900
-3,700
-10% -$101K
BMS
398
DELISTED
Bemis
BMS
$920K 0.06%
16,590
-5,280
-24% -$269K
MKSI icon
399
MKS Inc
MKSI
$21.2B
$916K 0.06%
9,840
-3,330
-25% -$269K
IDA icon
400
Idacorp
IDA
$8.15B
$915K 0.06%
9,190
-2,920
-24% -$283K
14 15
16
17 18

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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.