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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
NBN icon
601
Northeast Bank
NBN
$1.16B
$718K 0.05%
34,730
– –
SPGI icon
602
S&P Global
SPGI
$125B
$716K 0.05%
3,400
-3,350
-50% -$649K
UTL icon
603
Unitil
UTL
$992M
$716K 0.05%
13,220
– –
COR
604
DELISTED
Coresite Realty Corporation
COR
$716K 0.05%
6,690
-2,130
-24% -$211K
MYGN icon
605
Myriad Genetics
MYGN
$303M
$715K 0.05%
21,540
-70
-0.3% -$2.13K
KRA
606
DELISTED
Kraton Corporation
KRA
$715K 0.05%
22,200
+150
+0.7% +$4.52K
SAIC icon
607
Saic
SAIC
$5.35B
$714K 0.05%
9,280
-920
-9% -$64.8K
HIBB
608
DELISTED
Hibbett, Inc. Common Stock
HIBB
$714K 0.05%
31,300
– –
FLO icon
609
Flowers Foods
FLO
$1.6B
$713K 0.05%
33,450
-10,640
-24% -$213K
B
610
DELISTED
Barnes Group Inc.
B
$712K 0.05%
13,840
+120
+0.9% +$6.83K
GTN icon
611
Gray Television
GTN
$520M
$709K 0.05%
33,170
– –
IOSP icon
612
Innospec
IOSP
$2.31B
$709K 0.05%
8,500
+100
+1% +$7.45K
CBRL icon
613
Cracker Barrel
CBRL
$1.31B
$708K 0.05%
4,380
-1,390
-24% -$229K
CMCO icon
614
Columbus McKinnon
CMCO
$550M
$708K 0.05%
20,600
– –
BLKB icon
615
Blackbaud
BLKB
$2.1B
$706K 0.05%
8,850
-2,830
-24% -$208K
MDC
616
DELISTED
M.D.C. Holdings, Inc.
MDC
$705K 0.05%
26,212
+345
+1% +$9.13K
OLN icon
617
Olin
OLN
$2.17B
$704K 0.05%
30,410
-9,720
-24% -$232K
AIN icon
618
Albany International
AIN
$1.82B
$702K 0.05%
9,800
+110
+1% +$7.84K
NEU icon
619
NewMarket
NEU
$8.72B
$702K 0.05%
1,620
-530
-25% -$224K
EE
620
DELISTED
El Paso Electric Company
EE
$702K 0.05%
11,930
+160
+1% +$8.63K
BLK icon
621
Blackrock
BLK
$183B
$701K 0.05%
1,640
-1,660
-50% -$696K
TNL icon
622
Travel + Leisure Co
TNL
$4.58B
$700K 0.05%
17,280
-6,610
-28% -$278K
JJSF icon
623
J&J Snack Foods
JJSF
$1.7B
$699K 0.05%
4,400
+70
+2% +$10.7K
WLL
624
DELISTED
Whiting Petroleum Corporation
WLL
$699K 0.05%
+357
New +$720K
K
625
DELISTED
Kellanova
K
$698K 0.05%
12,950
-3,611
-22% -$193K
23 24
25
26 27

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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.