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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
FSS icon
976
Federal Signal
FSS
$7.51B
$459K 0.03%
17,660
+250
+1% +$5.71K
TCS
977
DELISTED
THE CONTAINER STORE GROUP, INC.
TCS
$459K 0.03%
3,479
– –
CTG
978
DELISTED
Computer Task Group, Inc.
CTG
$456K 0.03%
105,950
– –
INWK
979
DELISTED
InnerWorkings, Inc.
INWK
$456K 0.03%
126,060
– –
CBT icon
980
Cabot Corp
CBT
$4.45B
$455K 0.03%
10,940
-3,850
-26% -$173K
EBAY icon
981
eBay
EBAY
$46.5B
$455K 0.03%
12,250
-12,410
-50% -$431K
ASYS icon
982
Amtech Systems
ASYS
$280M
$454K 0.03%
85,140
– –
INBK icon
983
First Internet Bancorp
INBK
$256M
$454K 0.03%
23,480
– –
MBUU icon
984
Malibu Boats
MBUU
$573M
$454K 0.03%
11,460
– –
TWIN icon
985
Twin Disc
TWIN
$349M
$454K 0.03%
27,290
– –
APOG icon
986
Apogee Enterprises
APOG
$888M
$453K 0.03%
12,070
+80
+0.7% +$2.78K
HOG icon
987
Harley-Davidson
HOG
$2.9B
$453K 0.03%
12,720
-2,220
-15% -$80.8K
SFBS
988
ServisFirst Bancshares
SFBS
$5B
$453K 0.03%
13,430
+210
+2% +$7.17K
TIF
989
DELISTED
Tiffany & Co.
TIF
$453K 0.03%
4,290
-1,450
-25% -$133K
MATX icon
990
Matsons
MATX
$6.39B
$452K 0.03%
12,520
+170
+1% +$5.87K
SHAK icon
991
Shake Shack
SHAK
$2.98B
$452K 0.03%
7,640
+200
+3% +$10.2K
MEDP icon
992
Medpace
MEDP
$16.2B
$449K 0.03%
+7,620
New +$455K
PRAA icon
993
PRA Group
PRAA
$762M
$449K 0.03%
16,740
+180
+1% +$5.21K
MED icon
994
Medifast
MED
$128M
$448K 0.03%
3,510
+50
+1% +$6.34K
ARR
995
Armour Residential REIT
ARR
$2.37B
$447K 0.03%
4,574
+1,024
+29% +$105K
SEM
996
DELISTED
Select Medical
SEM
$447K 0.03%
58,909
+779
+1% +$6.26K
BIG
997
DELISTED
Big Lots, Inc.
BIG
$447K 0.03%
11,770
+1,880
+19% +$61.4K
VSH icon
998
Vishay Intertechnology
VSH
$5.11B
$445K 0.03%
24,090
-7,660
-24% -$153K
HCSG icon
999
Healthcare Services Group
HCSG
$1.45B
$444K 0.03%
13,450
-4,270
-24% -$164K
PSA icon
1000
Public Storage
PSA
$61.4B
$444K 0.03%
2,040
-1,980
-49% -$414K
38 39
40
41 42

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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
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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.