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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
BEL
676
DELISTED
Belmond Ltd.
BEL
$655K 0.04%
26,260
+350
+1% +$8.71K
LGIH icon
677
LGI Homes
LGIH
$1.37B
$654K 0.04%
10,850
+130
+1% +$7.53K
WING icon
678
Wingstop
WING
$3.1B
$653K 0.04%
8,590
+120
+1% +$8.18K
AKR icon
679
Acadia Realty Trust
AKR
$2.86B
$652K 0.04%
23,910
+340
+1% +$9.38K
COHR icon
680
Coherent
COHR
$64B
$652K 0.04%
17,520
+520
+3% +$19.2K
AEIS icon
681
Advanced Energy
AEIS
$13.2B
$651K 0.04%
13,110
– –
VG
682
DELISTED
Vonage Holdings Corporation
VG
$649K 0.04%
64,610
+1,000
+2% +$9.6K
DLTR icon
683
Dollar Tree
DLTR
$24.9B
$648K 0.04%
6,167
-3,090
-33% -$303K
AMN icon
684
AMN Healthcare
AMN
$1.34B
$647K 0.04%
13,740
– –
KALU icon
685
Kaiser Aluminum
KALU
$2.99B
$647K 0.04%
6,180
-80
-1% -$8.14K
NWE icon
686
NorthWestern Energy
NWE
$4.4B
$646K 0.04%
9,170
-2,780
-23% -$182K
ASB icon
687
Associated Banc-Corp
ASB
$6.07B
$645K 0.04%
30,220
-11,140
-27% -$245K
SIX
688
DELISTED
Six Flags Entertainment Corp.
SIX
$645K 0.04%
13,080
-4,090
-24% -$231K
ASPS icon
689
Altisource Portfolio Solutions
ASPS
$65.6M
$644K 0.04%
3,399
– –
RRX icon
690
Regal Rexnord
RRX
$11.4B
$643K 0.04%
7,860
-2,580
-25% -$204K
TAP icon
691
Molson Coors Class B
TAP
$7.85B
$643K 0.04%
10,780
-2,510
-19% -$155K
FMBI
692
DELISTED
First Midwest Bancorp Inc/IL
FMBI
$643K 0.04%
31,410
+1,570
+5% +$34.3K
RC
693
Ready Capital
RC
$294M
$642K 0.04%
43,750
– –
DRH icon
694
Diamondrock Hospitality Co
DRH
$2.51B
$641K 0.04%
59,200
-910
-2% -$9.41K
MRSH
695
Marsh
MRSH
$90B
$640K 0.04%
6,820
-6,630
-49% -$586K
OZK icon
696
Bank OZK
OZK
$5.7B
$639K 0.04%
22,040
-7,010
-24% -$212K
WRI
697
DELISTED
Weingarten Realty Investors
WRI
$639K 0.04%
21,760
-6,870
-24% -$192K
GD icon
698
General Dynamics
GD
$106B
$638K 0.04%
3,770
-3,680
-49% -$620K
AAWW
699
DELISTED
Atlas Air Worldwide Holdings, Inc.
AAWW
$638K 0.04%
12,620
+170
+1% +$8.6K
VVV icon
700
Valvoline
VVV
$4.31B
$637K 0.04%
34,307
-11,550
-25% -$229K
26 27
28
29 30

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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
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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.