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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
ADC icon
551
Agree Realty
ADC
$9.34B
$766K 0.05%
11,050
+1,080
+11% +$69.9K
JBHT icon
552
JB Hunt Transport Services
JBHT
$26.5B
$766K 0.05%
7,560
-1,180
-14% -$122K
CWT icon
553
California Water Service
CWT
$3.1B
$765K 0.05%
14,090
+190
+1% +$9.56K
HI
554
DELISTED
Hillenbrand
HI
$763K 0.05%
18,380
+360
+2% +$15.2K
MU icon
555
Micron Technology
MU
$1.07T
$763K 0.05%
18,460
-15,980
-46% -$617K
SFNC icon
556
Simmons First National
SFNC
$3.46B
$763K 0.05%
31,170
+430
+1% +$11K
SPG icon
557
Simon Property Group
SPG
$71.7B
$763K 0.05%
4,190
-4,110
-50% -$731K
DX
558
Dynex Capital
DX
$3.23B
$761K 0.05%
41,643
– –
CNMD icon
559
CONMED
CNMD
$1.49B
$760K 0.05%
9,140
+110
+1% +$7.99K
JHG
560
DELISTED
Janus Henderson
JHG
$760K 0.05%
30,414
-10,040
-25% -$233K
KIM icon
561
Kimco Realty
KIM
$16.4B
$760K 0.05%
41,060
-5,340
-12% -$91.7K
IRDM icon
562
Iridium Communications
IRDM
$5.27B
$759K 0.05%
28,710
+840
+3% +$18.1K
INDB icon
563
Independent Bank
INDB
$4.05B
$757K 0.05%
9,340
+270
+3% +$21.4K
TXRH icon
564
Texas Roadhouse
TXRH
$13.6B
$754K 0.05%
12,130
-3,840
-24% -$240K
DORM icon
565
Dorman Products
DORM
$3.95B
$751K 0.05%
8,520
+110
+1% +$9.56K
AJRD
566
DELISTED
Aerojet Rocketdyne Holdings
AJRD
$750K 0.05%
21,120
+1,000
+5% +$36.8K
KNX icon
567
Knight Transportation
KNX
$11.9B
$749K 0.05%
22,910
-7,910
-26% -$252K
EME icon
568
Emcor
EME
$36.7B
$748K 0.05%
10,240
-3,740
-27% -$254K
IVZ icon
569
Invesco
IVZ
$14.3B
$748K 0.05%
38,740
-4,980
-11% -$93.1K
EOG icon
570
EOG Resources
EOG
$74.2B
$747K 0.05%
7,850
-7,700
-50% -$734K
LOGM
571
DELISTED
LogMein, Inc.
LOGM
$747K 0.05%
9,330
-3,140
-25% -$268K
ENSG icon
572
The Ensign Group
ENSG
$10.6B
$745K 0.05%
15,565
+428
+3% +$18.7K
KFY icon
573
Korn Ferry
KFY
$4.36B
$744K 0.05%
16,610
+140
+0.9% +$6.4K
RYN icon
574
Rayonier
RYN
$6.54B
$744K 0.05%
26,013
-8,277
-24% -$221K
MLI icon
575
Mueller Industries
MLI
$14.7B
$742K 0.05%
94,680
+960
+1% +$7.06K
21 22
23
24 25

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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
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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.