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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
ALXN
1051
DELISTED
Alexion Pharmaceuticals
ALXN
$408K 0.03%
3,020
-2,880
-49% -$358K
IDCC icon
1052
InterDigital
IDCC
$8.88B
$407K 0.03%
6,170
-2,200
-26% -$153K
URBN icon
1053
Urban Outfitters
URBN
$6.53B
$407K 0.03%
13,740
-5,110
-27% -$157K
SFLY
1054
DELISTED
Shutterfly, Inc.
SFLY
$407K 0.03%
10,010
+340
+4% +$14.9K
ANIK icon
1055
Anika Therapeutics
ANIK
$283M
$406K 0.03%
13,410
+9,250
+222% +$317K
STBA icon
1056
S&T Bancorp
STBA
$1.82B
$406K 0.03%
10,260
+130
+1% +$5.2K
ECPG icon
1057
Encore Capital Group
ECPG
$2.15B
$405K 0.03%
14,890
+110
+0.7% +$3.28K
EGY icon
1058
Vaalco Energy
EGY
$592M
$405K 0.03%
180,690
– –
RAVN
1059
DELISTED
Raven Industries Inc
RAVN
$404K 0.03%
10,540
+160
+2% +$6.07K
MDR
1060
DELISTED
McDermott International
MDR
$404K 0.03%
54,296
-10,700
-16% -$88.2K
DVA icon
1061
DaVita
DVA
$11.4B
$403K 0.03%
7,430
-1,710
-19% -$94.6K
SBH icon
1062
Sally Beauty Holdings
SBH
$1.55B
$403K 0.03%
21,900
-6,710
-23% -$120K
ABCB icon
1063
Ameris Bancorp
ABCB
$6B
$402K 0.03%
11,700
+150
+1% +$5.58K
MDP
1064
DELISTED
Meredith Corporation
MDP
$402K 0.03%
7,270
-2,290
-24% -$127K
BYD icon
1065
Boyd Gaming
BYD
$6.05B
$400K 0.03%
14,630
-4,620
-24% -$126K
SBSI icon
1066
Southside Bancshares
SBSI
$984M
$398K 0.03%
11,987
-230
-2% -$7.8K
CNX icon
1067
CNX Resources
CNX
$5.23B
$397K 0.03%
36,860
-13,750
-27% -$155K
AZZ icon
1068
AZZ Inc
AZZ
$4.52B
$396K 0.03%
9,660
+110
+1% +$4.87K
PENN icon
1069
PENN Entertainment
PENN
$2.53B
$396K 0.03%
19,720
-5,600
-22% -$131K
SBCF icon
1070
Seacoast Banking Corp of Florida
SBCF
$3.48B
$396K 0.03%
15,030
+230
+2% +$6.46K
UE icon
1071
Urban Edge Properties
UE
$2.78B
$396K 0.03%
20,840
-6,250
-23% -$121K
CSII
1072
DELISTED
Cardiovascular Systems, Inc.
CSII
$396K 0.03%
+10,240
New +$347K
WELL icon
1073
Welltower
WELL
$169B
$395K 0.03%
5,090
-4,770
-48% -$358K
CNSL
1074
DELISTED
Consolidated Communications Holdings, Inc.
CNSL
$395K 0.03%
36,190
+280
+0.8% +$2.93K
MEI icon
1075
Methode Electronics
MEI
$593M
$394K 0.03%
13,700
+140
+1% +$3.82K
41 42
43
44 45

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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.