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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
WNC icon
1001
Wabash National
WNC
$509M
$444K 0.03%
32,780
– –
MD icon
1002
Pediatrix Medical
MD
$2.14B
$443K 0.03%
16,300
-6,160
-27% -$207K
SPXC icon
1003
SPX Corp
SPXC
$10.6B
$443K 0.03%
12,720
+270
+2% +$8.77K
VPG icon
1004
Vishay Precision Group
VPG
$908M
$443K 0.03%
12,960
– –
CMD
1005
DELISTED
Cantel Medical Corporation
CMD
$443K 0.03%
6,620
-2,000
-23% -$151K
PES
1006
DELISTED
Pioneer Energy Services Corp.
PES
$443K 0.03%
250,190
– –
MTRN icon
1007
Materion
MTRN
$5.88B
$441K 0.03%
7,740
+80
+1% +$4.16K
FCF icon
1008
First Commonwealth Financial
FCF
$2.19B
$440K 0.03%
34,890
– –
WAGE
1009
DELISTED
WageWorks, Inc.
WAGE
$439K 0.03%
11,620
+160
+1% +$5.22K
RHT
1010
DELISTED
Red Hat Inc
RHT
$437K 0.03%
2,390
-2,320
-49% -$416K
DAL icon
1011
Delta Air Lines
DAL
$60B
$436K 0.03%
8,450
-8,760
-51% -$435K
EPAC icon
1012
Enerpac Tool Group
EPAC
$1.89B
$436K 0.03%
17,900
+290
+2% +$6.79K
ACA icon
1013
Arcosa
ACA
$7.12B
$435K 0.03%
14,240
– –
XLNX
1014
DELISTED
Xilinx Inc
XLNX
$435K 0.03%
3,430
-3,360
-49% -$377K
OSIS icon
1015
OSI Systems
OSIS
$3.77B
$434K 0.03%
4,950
+130
+3% +$10.9K
CAMP
1016
DELISTED
CalAmp Corp.
CAMP
$434K 0.03%
1,500
– –
IBP icon
1017
Installed Building Products
IBP
$6.54B
$433K 0.03%
8,930
– –
THC icon
1018
Tenet Healthcare
THC
$21.5B
$433K 0.03%
15,030
-4,900
-25% -$121K
EPC icon
1019
Edgewell Personal Care
EPC
$1.31B
$432K 0.03%
9,850
-3,140
-24% -$131K
REGN icon
1020
Regeneron Pharmaceuticals
REGN
$83B
$431K 0.03%
1,050
-1,030
-50% -$424K
VRTU
1021
DELISTED
Virtusa Corporation
VRTU
$431K 0.03%
8,070
+240
+3% +$11.9K
CF icon
1022
CF Industries
CF
$17.7B
$430K 0.03%
10,520
-3,170
-23% -$134K
WAFD icon
1023
WaFd
WAFD
$2.81B
$429K 0.03%
14,860
-4,940
-25% -$145K
BBBY
1024
DELISTED
Bed Bath & Beyond Inc
BBBY
$428K 0.03%
25,170
-8,510
-25% -$129K
LM
1025
DELISTED
Legg Mason, Inc.
LM
$427K 0.03%
15,590
-4,950
-24% -$142K
39 40
41
42 43

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VAS
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SFM
Soros Fund Management New York $9.12B AUM 30.69% 1-Year Est. Return
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
SC US (TTGP) Menlo Park, California $9.25B AUM 20.49% 1-Year Est. Return
MU
Mirova US Boston, Massachusetts $8.81B AUM 21.38% 1-Year Est. Return
WPL
WINDACRE PARTNERSHIP LLC Houston, Texas $9.34B AUM 17.41% 1-Year Est. Return
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.