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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
FWRD icon
801
Forward Air
FWRD
$682M
$554K 0.04%
8,560
+70
+0.8% +$4.29K
PLXS icon
802
Plexus
PLXS
$7.04B
$554K 0.04%
9,090
-260
-3% -$15K
SPSC icon
803
SPS Commerce
SPSC
$2.86B
$554K 0.04%
10,440
+340
+3% +$16.7K
CZR icon
804
Caesars Entertainment
CZR
$6.04B
$553K 0.04%
11,850
-3,580
-23% -$163K
TGNA
805
DELISTED
TEGNA Inc
TGNA
$553K 0.04%
39,250
-12,480
-24% -$158K
ANDE icon
806
Andersons Inc
ANDE
$2.21B
$552K 0.04%
17,130
+250
+1% +$8.66K
ENTA icon
807
Enanta Pharmaceuticals
ENTA
$391M
$552K 0.04%
5,780
+70
+1% +$6.28K
WM icon
808
Waste Management
WM
$89.6B
$552K 0.04%
5,310
-5,280
-50% -$515K
EPAY
809
DELISTED
Bottomline Technologies Inc
EPAY
$551K 0.04%
11,010
+420
+4% +$20.3K
AAON icon
810
Aaon
AAON
$7.23B
$550K 0.04%
17,865
+180
+1% +$4.73K
FCX icon
811
Freeport-McMoran
FCX
$93.6B
$550K 0.04%
42,690
-19,120
-31% -$231K
KMT icon
812
Kennametal
KMT
$2.32B
$550K 0.04%
14,970
-4,650
-24% -$170K
TKR icon
813
Timken Company
TKR
$9.1B
$550K 0.04%
12,610
-3,870
-23% -$164K
NBTB icon
814
NBT Bancorp
NBTB
$2.79B
$548K 0.04%
15,220
+170
+1% +$6.27K
MRLN
815
DELISTED
Marlin Business Services Corp
MRLN
$548K 0.04%
25,480
– –
RWT
816
Redwood Trust
RWT
$599M
$547K 0.04%
33,850
+4,410
+15% +$69.7K
CLGX
817
DELISTED
Corelogic, Inc.
CLGX
$547K 0.04%
14,690
-4,760
-24% -$176K
HOPE icon
818
Hope Bancorp
HOPE
$1.85B
$545K 0.04%
41,691
– –
MGM icon
819
MGM Resorts International
MGM
$11.1B
$544K 0.04%
21,180
-6,640
-24% -$182K
PRA
820
DELISTED
ProAssurance
PRA
$544K 0.04%
15,720
+210
+1% +$8.5K
CDP icon
821
COPT Defense Properties
CDP
$4.23B
$542K 0.04%
19,840
-6,320
-24% -$160K
MTZ icon
822
MasTec
MTZ
$23B
$542K 0.04%
11,260
-4,370
-28% -$196K
LCI
823
DELISTED
Lannett Company, Inc.
LCI
$542K 0.04%
17,228
– –
EW icon
824
Edwards Lifesciences
EW
$53.4B
$541K 0.04%
8,490
-8,280
-49% -$473K
NVRI icon
825
Enviri
NVRI
$564M
$541K 0.04%
26,810
+160
+0.6% +$3.45K
31 32
33
34 35

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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
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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.