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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
SVC
526
Service Properties Trust
SVC
$1.06B
$789K 0.05%
5,996
-1,904
-24% -$251K
PDCE
527
DELISTED
PDC Energy, Inc.
PDCE
$788K 0.05%
19,370
+260
+1% +$9.49K
HVT icon
528
Haverty Furniture Companies
HVT
$450M
$787K 0.05%
35,970
+120
+0.3% +$2.59K
LITE icon
529
Lumentum
LITE
$78B
$787K 0.05%
13,920
-6,919
-33% -$332K
SLM icon
530
SLM Corp
SLM
$5.22B
$787K 0.05%
79,420
-25,210
-24% -$261K
WTS icon
531
Watts Water Technologies
WTS
$12.8B
$787K 0.05%
9,730
+100
+1% +$7.61K
KWR icon
532
Quaker Houghton
KWR
$2.95B
$783K 0.05%
3,910
+50
+1% +$9.93K
AVA icon
533
Avista
AVA
$3.24B
$782K 0.05%
19,250
+250
+1% +$10.3K
RHI icon
534
Robert Half
RHI
$4.48B
$782K 0.05%
12,010
-1,630
-12% -$103K
SNA icon
535
Snap-on
SNA
$20.9B
$782K 0.05%
5,000
-740
-13% -$118K
DECK icon
536
Deckers Outdoor
DECK
$12.7B
$781K 0.05%
31,860
-11,520
-27% -$262K
COLB icon
537
Columbia Banking Systems
COLB
$9.18B
$780K 0.05%
23,860
+280
+1% +$10.2K
FSTR icon
538
Foster
FSTR
$404M
$780K 0.05%
+41,470
New +$737K
CXT icon
539
Crane NXT
CXT
$2.96B
$779K 0.05%
26,516
-8,521
-24% -$241K
FOXF icon
540
Fox Factory Holding Corp
FOXF
$886M
$779K 0.05%
11,140
+200
+2% +$12.7K
KMX icon
541
CarMax
KMX
$8.52B
$778K 0.05%
11,140
-2,380
-18% -$147K
SHOO icon
542
Steven Madden
SHOO
$3.46B
$778K 0.05%
22,980
-120
-0.5% -$3.92K
ONTO icon
543
Onto Innovation
ONTO
$20.6B
$776K 0.05%
25,160
+120
+0.5% +$3.53K
ACRE
544
Ares Commercial Real Estate
ACRE
$264M
$775K 0.05%
51,040
– –
CNK icon
545
Cinemark Holdings
CNK
$4.37B
$775K 0.05%
19,380
-6,170
-24% -$241K
PFBC icon
546
Preferred Bank
PFBC
$1.28B
$772K 0.05%
17,160
+60
+0.4% +$2.86K
ALE
547
DELISTED
Allete
ALE
$770K 0.05%
9,370
-2,970
-24% -$234K
BRC icon
548
Brady Corp
BRC
$4.43B
$769K 0.05%
16,580
+500
+3% +$23K
AWR icon
549
American States Water
AWR
$3.52B
$768K 0.05%
10,770
+150
+1% +$10.3K
PVH icon
550
PVH
PVH
$3.77B
$767K 0.05%
6,290
-980
-13% -$107K
20 21
22
23 24

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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
Platinum Equity Advisors Beverly Hills, California $8.88B AUM 27.09% 1-Year Est. Return
SUT
SC US (TTGP) Menlo Park, California $9.25B AUM 20.49% 1-Year Est. Return
MU
Mirova US Boston, Massachusetts $8.81B AUM 21.38% 1-Year Est. Return
WPL
WINDACRE PARTNERSHIP LLC Houston, Texas $9.34B AUM 17.41% 1-Year Est. Return
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.