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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
EL icon
901
Estee Lauder
EL
$31.6B
$493K 0.03%
2,980
-3,040
-50% -$446K
URI icon
902
United Rentals
URI
$69.7B
$493K 0.03%
4,310
-1,090
-20% -$135K
EQIX icon
903
Equinix
EQIX
$106B
$492K 0.03%
1,086
-1,050
-49% -$428K
GIII icon
904
G-III Apparel Group
GIII
$1.43B
$492K 0.03%
12,300
+210
+2% +$7.3K
UNM icon
905
Unum
UNM
$14.7B
$492K 0.03%
14,560
-2,890
-17% -$101K
ARCB icon
906
ArcBest
ARCB
$3.28B
$491K 0.03%
15,950
+100
+0.6% +$3.61K
INVX
907
Innovex International
INVX
$2.15B
$491K 0.03%
10,700
+1,760
+20% +$69.2K
KBR icon
908
KBR
KBR
$4.81B
$490K 0.03%
25,680
-8,130
-24% -$147K
PUMP icon
909
ProPetro Holding
PUMP
$1.42B
$490K 0.03%
21,730
+470
+2% +$8.41K
ALGT icon
910
Allegiant Air
ALGT
$2.36B
$489K 0.03%
3,780
+90
+2% +$11.4K
RL icon
911
Ralph Lauren
RL
$23.1B
$488K 0.03%
3,760
-700
-16% -$83.3K
WABC icon
912
Westamerica Bancorp
WABC
$1.39B
$488K 0.03%
7,900
+190
+2% +$11.8K
PCTI
913
DELISTED
PCTEL, Inc. Common Stock
PCTI
$488K 0.03%
97,340
– –
CNO icon
914
CNO Financial Group
CNO
$5.07B
$486K 0.03%
30,020
-9,200
-23% -$156K
IIIN icon
915
Insteel Industries
IIIN
$634M
$486K 0.03%
23,260
+200
+0.9% +$4.4K
NUS icon
916
Nu Skin
NUS
$236M
$485K 0.03%
10,130
-3,220
-24% -$195K
SWBI icon
917
Smith & Wesson
SWBI
$643M
$485K 0.03%
67,535
– –
EBF icon
918
Ennis
EBF
$559M
$484K 0.03%
23,320
– –
SAFM
919
DELISTED
Sanderson Farms Inc
SAFM
$483K 0.03%
3,660
-1,170
-24% -$140K
KSS icon
920
Kohl's
KSS
$2.22B
$482K 0.03%
7,010
-2,130
-23% -$144K
ROCK icon
921
Gibraltar Industries
ROCK
$1.45B
$482K 0.03%
11,870
+150
+1% +$5.72K
ROP icon
922
Roper Technologies
ROP
$39.3B
$482K 0.03%
1,410
-1,360
-49% -$413K
SHW icon
923
Sherwin-Williams
SHW
$87.8B
$482K 0.03%
3,360
-3,270
-49% -$455K
SGI
924
Somnigroup International
SGI
$14B
$482K 0.03%
33,400
-9,960
-23% -$135K
DHX icon
925
DHI Group
DHX
$174M
$481K 0.03%
197,900
– –
35 36
37
38 39

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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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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.