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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
AVD icon
476
American Vanguard Corp
AVD
$62.8M
$831K 0.06%
48,260
– –
MMS icon
477
Maximus
MMS
$2.94B
$830K 0.06%
11,690
-3,750
-24% -$263K
SYK icon
478
Stryker
SYK
$131B
$830K 0.06%
4,200
-4,140
-50% -$745K
CHTR icon
479
Charter Communications
CHTR
$18.7B
$829K 0.06%
2,390
-2,400
-50% -$791K
VIAV icon
480
Viavi Solutions
VIAV
$10.6B
$829K 0.06%
66,960
+1,390
+2% +$16.3K
KEY icon
481
KeyCorp
KEY
$24.6B
$828K 0.06%
52,520
-14,090
-21% -$235K
LSI
482
DELISTED
Life Storage, Inc.
LSI
$827K 0.06%
12,750
-4,050
-24% -$259K
FHN icon
483
First Horizon
FHN
$12.3B
$826K 0.06%
59,060
-19,050
-24% -$281K
PMD
484
DELISTED
Psychemedics Corporation
PMD
$826K 0.06%
58,900
– –
TPB icon
485
Turning Point Brands
TPB
$1.73B
$825K 0.05%
17,890
– –
HAE icon
486
Haemonetics
HAE
$4.11B
$824K 0.05%
9,420
-3,000
-24% -$273K
ITGR icon
487
Integer Holdings
ITGR
$4.25B
$823K 0.05%
10,910
+230
+2% +$18.8K
RLI icon
488
RLI Corp
RLI
$5.87B
$823K 0.05%
22,940
+360
+2% +$12.4K
QLYS icon
489
Qualys
QLYS
$6.78B
$822K 0.05%
9,930
+230
+2% +$19.1K
WSM icon
490
Williams-Sonoma
WSM
$28.5B
$822K 0.05%
29,220
-9,500
-25% -$262K
SKX
491
DELISTED
Skechers
SKX
$820K 0.05%
24,410
-8,060
-25% -$241K
BWA icon
492
BorgWarner
BWA
$13.8B
$819K 0.05%
24,208
-3,192
-12% -$110K
AMG icon
493
Affiliated Managers Group
AMG
$9.7B
$818K 0.05%
7,640
-740
-9% -$78.6K
AGCO icon
494
AGCO
AGCO
$6.96B
$817K 0.05%
11,750
-4,220
-26% -$273K
TDAY
495
USA Today Co
TDAY
$1B
$817K 0.05%
77,770
+220
+0.3% +$2.82K
SLB icon
496
SLB Ltd
SLB
$77.3B
$817K 0.05%
18,742
-18,420
-50% -$796K
UNF icon
497
Unifirst Corp
UNF
$5.21B
$815K 0.05%
5,310
+60
+1% +$8.43K
FR icon
498
First Industrial Realty Trust
FR
$8.4B
$814K 0.05%
23,030
-7,250
-24% -$239K
CSX icon
499
CSX Corp
CSX
$92.9B
$813K 0.05%
32,580
-32,850
-50% -$761K
HE icon
500
Hawaiian Electric Industries
HE
$2.04B
$809K 0.05%
19,850
-6,320
-24% -$240K
18 19
20
21 22

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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
PEA
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SUT
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MU
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WPL
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PVI
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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.