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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
KE
426
Kimball Electronics
KE
$626M
$889K 0.06%
57,410
– –
CHRW icon
427
C.H. Robinson
CHRW
$17.5B
$888K 0.06%
10,210
-1,780
-15% -$156K
CW icon
428
Curtiss-Wright
CW
$25.4B
$887K 0.06%
7,830
-2,740
-26% -$312K
EVR icon
429
Evercore
EVR
$12B
$887K 0.06%
9,740
-2,340
-19% -$205K
SYF icon
430
Synchrony
SYF
$26.1B
$884K 0.06%
27,710
-10,360
-27% -$312K
CABO icon
431
Cable One
CABO
$206M
$883K 0.06%
900
-290
-24% -$263K
HIW icon
432
Highwoods Properties
HIW
$3.51B
$883K 0.06%
18,870
-5,990
-24% -$267K
BCPC
433
Balchem Corp
BCPC
$5.65B
$881K 0.06%
9,490
+170
+2% +$14.7K
EXPO icon
434
Exponent
EXPO
$3.24B
$880K 0.06%
15,250
+200
+1% +$10.8K
ZION icon
435
Zions Bancorporation
ZION
$10.5B
$880K 0.06%
19,380
-2,640
-12% -$126K
NEOG icon
436
Neogen
NEOG
$2.59B
$879K 0.06%
30,620
+640
+2% +$19.4K
BEN icon
437
Franklin Resources
BEN
$17.2B
$878K 0.06%
26,470
-4,500
-15% -$142K
AYI icon
438
Acuity Brands
AYI
$10.8B
$877K 0.06%
7,310
-2,300
-24% -$286K
EXPD icon
439
Expeditors International
EXPD
$24.3B
$876K 0.06%
11,540
-2,350
-17% -$170K
TPIC
440
DELISTED
TPI Composites
TPIC
$876K 0.06%
30,610
– –
IDXX icon
441
Idexx Laboratories
IDXX
$44.7B
$874K 0.06%
3,910
-1,140
-23% -$235K
DUK icon
442
Duke Energy
DUK
$97.1B
$869K 0.06%
9,650
-9,400
-49% -$829K
MCS icon
443
Marcus Corp
MCS
$929M
$869K 0.06%
21,690
+620
+3% +$25.7K
MUR icon
444
Murphy Oil
MUR
$4.99B
$869K 0.06%
29,660
-9,430
-24% -$268K
SJI
445
DELISTED
South Jersey Industries, Inc.
SJI
$867K 0.06%
27,050
+2,320
+9% +$70.2K
LIVN icon
446
LivaNova
LIVN
$4.53B
$864K 0.06%
8,880
-2,800
-24% -$261K
MTH icon
447
Meritage Homes
MTH
$4.8B
$863K 0.06%
38,600
-1,020
-3% -$21.8K
ROG icon
448
Rogers Corp
ROG
$2.46B
$861K 0.06%
5,420
+100
+2% +$13.5K
AVT icon
449
Avnet
AVT
$7.87B
$860K 0.06%
19,830
-7,820
-28% -$330K
CASY icon
450
Casey's General Stores
CASY
$31.6B
$859K 0.06%
6,670
-2,130
-24% -$279K
16 17
18
19 20

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SFM
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AI
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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.