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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
HMSY
576
DELISTED
HMS Holdings Corp.
HMSY
$742K 0.05%
25,070
+930
+4% +$28.7K
PEB icon
577
Pebblebrook Hotel Trust
PEB
$2.05B
$741K 0.05%
23,870
-8,140
-25% -$257K
CUZ icon
578
Cousins Properties
CUZ
$4.93B
$740K 0.05%
19,160
-6,098
-24% -$223K
ZD icon
579
Ziff Davis
ZD
$1.92B
$740K 0.05%
9,821
-3,105
-24% -$214K
EARN
580
Ellington Residential Mortgage REIT
EARN
$167M
$739K 0.05%
62,080
– –
KEX icon
581
Kirby Corp
KEX
$7.26B
$738K 0.05%
9,820
-3,130
-24% -$228K
ZUMZ icon
582
Zumiez
ZUMZ
$319M
$736K 0.05%
29,540
– –
HR
583
DELISTED
Healthcare Realty Trust Incorporated
HR
$733K 0.05%
22,830
-7,270
-24% -$228K
HQY icon
584
HealthEquity
HQY
$8.83B
$732K 0.05%
9,900
-3,120
-24% -$219K
FBP icon
585
First Bancorp
FBP
$4.49B
$730K 0.05%
63,680
+860
+1% +$9.07K
PNFP icon
586
Pinnacle Financial Partners Inc
PNFP
$16.2B
$730K 0.05%
13,350
-4,240
-24% -$234K
BKH icon
587
Black Hills Corp
BKH
$5.64B
$729K 0.05%
9,840
-3,130
-24% -$215K
CBZ icon
588
CBIZ
CBZ
$2.96B
$728K 0.05%
35,990
– –
BLBD icon
589
Blue Bird Corp
BLBD
$2.05B
$727K 0.05%
42,930
– –
FSLR icon
590
First Solar
FSLR
$24B
$727K 0.05%
13,760
-4,370
-24% -$220K
FUL icon
591
H.B. Fuller
FUL
$3.24B
$727K 0.05%
14,950
+310
+2% +$14.9K
ICUI icon
592
ICU Medical
ICUI
$4.58B
$725K 0.05%
3,030
-950
-24% -$228K
STL
593
DELISTED
Sterling Bancorp
STL
$725K 0.05%
38,900
-15,290
-28% -$292K
ONB icon
594
Old National Bancorp
ONB
$10.4B
$724K 0.05%
44,150
+730
+2% +$12.2K
KHC icon
595
Kraft Heinz
KHC
$30.1B
$722K 0.05%
22,120
-8,210
-27% -$335K
EXP icon
596
Eagle Materials
EXP
$6.41B
$721K 0.05%
8,550
-2,930
-26% -$212K
SNX icon
597
TD Synnex
SNX
$20.4B
$721K 0.05%
15,114
-4,800
-24% -$227K
IVR icon
598
Invesco Mortgage Capital
IVR
$805M
$720K 0.05%
4,555
+525
+13% +$83.3K
BSX icon
599
Boston Scientific
BSX
$74.9B
$719K 0.05%
18,730
-18,400
-50% -$703K
IART icon
600
Integra LifeSciences
IART
$1.42B
$718K 0.05%
12,890
-4,090
-24% -$208K
22 23
24
25 26

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VAS
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SFM
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AI
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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.