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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
DCP
26
DELISTED
DCP Midstream, LP
DCP
$6.9M 0.46%
208,910
+47,270
+29% +$1.51M
ET icon
27
Energy Transfer Partners
ET
$72.1B
$6.87M 0.46%
446,980
+71,172
+19% +$1.06M
VZ icon
28
Verizon
VZ
$195B
$6.86M 0.46%
116,010
-55,020
-32% -$3.12M
EQM
29
DELISTED
EQM Midstream Partners, LP
EQM
$6.84M 0.46%
148,220
+26,700
+22% +$1.17M
PAA icon
30
Plains All American Pipeline
PAA
$16.4B
$6.81M 0.45%
277,880
+27,080
+11% +$640K
MRK icon
31
Merck
MRK
$328B
$6.72M 0.45%
84,689
-37,854
-31% -$2.83M
WES icon
32
Western Midstream Partners
WES
$19.9B
$6.63M 0.44%
+211,319
New +$6.71M
MA icon
33
Mastercard
MA
$490B
$6.57M 0.44%
27,910
-12,200
-30% -$2.62M
MMP
34
DELISTED
Magellan Midstream Partners, L.P.
MMP
$6.56M 0.44%
108,250
+11,790
+12% +$712K
BAC icon
35
Bank of America
BAC
$453B
$6.55M 0.44%
237,290
-125,880
-35% -$3.56M
CVX icon
36
Chevron
CVX
$386B
$6.51M 0.43%
52,840
-25,580
-33% -$3.03M
MPLX icon
37
MPLX
MPLX
$60.8B
$6.49M 0.43%
197,320
+15,230
+8% +$511K
PFE icon
38
Pfizer
PFE
$150B
$6.47M 0.43%
160,556
-83,434
-34% -$3.34M
AM icon
39
Antero Midstream
AM
$10.6B
$6.42M 0.43%
+465,500
New +$6.08M
ENBL
40
DELISTED
ENABLE MIDSTREAM PARTNERS, LP
ENBL
$6.26M 0.42%
437,240
+33,140
+8% +$494K
ANDX
41
DELISTED
Andeavor Logistics LP
ANDX
$6.23M 0.41%
176,690
+39,320
+29% +$1.39M
T icon
42
AT&T
T
$166B
$6.21M 0.41%
262,234
-127,726
-33% -$2.94M
UNH icon
43
UnitedHealth
UNH
$364B
$6.15M 0.41%
24,880
-12,820
-34% -$3.27M
HD icon
44
Home Depot
HD
$342B
$6.15M 0.41%
32,040
-15,430
-33% -$2.83M
DIS icon
45
Walt Disney
DIS
$178B
$6.1M 0.41%
54,975
-12,825
-19% -$1.43M
BA icon
46
Boeing
BA
$183B
$6.1M 0.41%
15,990
-7,200
-31% -$2.77M
CMCSA icon
47
Comcast
CMCSA
$90.4B
$6.07M 0.4%
151,870
-61,320
-29% -$2.31M
PEP icon
48
PepsiCo
PEP
$189B
$6.02M 0.4%
49,120
-18,870
-28% -$2.15M
HEP
49
DELISTED
Holly Energy Partners, L.P.
HEP
$6.01M 0.4%
222,860
+6,220
+3% +$181K
KO icon
50
Coca-Cola
KO
$373B
$5.72M 0.38%
122,180
-50,920
-29% -$2.38M
1
2
3 4 5

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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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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.