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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
STMP
1076
DELISTED
Stamps.com, Inc.
STMP
$394K 0.03%
4,840
-100
-2% -$14.1K
CRS icon
1077
Carpenter Technology
CRS
$26.6B
$393K 0.03%
8,580
-2,780
-24% -$124K
BDC icon
1078
Belden
BDC
$5.36B
$392K 0.03%
7,300
-2,470
-25% -$135K
KRG icon
1079
Kite Realty
KRG
$5.31B
$392K 0.03%
24,540
+340
+1% +$5.39K
NAII icon
1080
Natural Alternatives International
NAII
$13.6M
$392K 0.03%
34,060
– –
TTGT icon
1081
TechTarget
TTGT
$277M
$392K 0.03%
24,110
+180
+0.8% +$2.7K
CNTY icon
1082
Century Casinos
CNTY
$35.2M
$391K 0.03%
43,160
– –
COKE icon
1083
Coca-Cola Consolidated
COKE
$12.7B
$391K 0.03%
13,600
+200
+1% +$4.57K
USPH icon
1084
US Physical Therapy
USPH
$1.24B
$391K 0.03%
3,720
+50
+1% +$5.38K
HLX icon
1085
Helix Energy Solutions
HLX
$1.49B
$390K 0.03%
49,230
+550
+1% +$3.94K
CATM
1086
DELISTED
Cardtronics plc Class A Ordinary Shares (UK)
CATM
$390K 0.03%
10,950
+150
+1% +$4.47K
GENC icon
1087
Gencor Industries
GENC
$264M
$389K 0.03%
31,490
– –
BBT
1088
Beacon Financial Corp
BBT
$2.71B
$386K 0.03%
14,160
+160
+1% +$4.63K
GAP
1089
The Gap Inc
GAP
$7.34B
$386K 0.03%
14,750
-2,800
-16% -$71.5K
OSG
1090
DELISTED
Overseas Shipholding Group Inc.
OSG
$386K 0.03%
168,400
– –
MTSC
1091
DELISTED
MTS Systems Corp
MTSC
$385K 0.03%
7,080
+70
+1% +$3.55K
CVGW
1092
DELISTED
Calavo Growers
CVGW
$384K 0.03%
4,580
+60
+1% +$4.87K
PARR icon
1093
Par Pacific Holdings
PARR
$4.12B
$384K 0.03%
21,590
+800
+4% +$13.3K
VFC icon
1094
VF Corp
VFC
$5.79B
$382K 0.03%
4,673
-4,545
-49% -$354K
CBM
1095
DELISTED
Cambrex Corporation
CBM
$382K 0.03%
9,840
+220
+2% +$9.01K
IBOC icon
1096
International Bancshares
IBOC
$4.57B
$381K 0.03%
10,010
-3,180
-24% -$120K
MLKN icon
1097
MillerKnoll
MLKN
$1.62B
$381K 0.03%
10,820
-3,480
-24% -$121K
JAX
1098
DELISTED
J. Alexander's Holdings, Inc.
JAX
$381K 0.03%
38,750
– –
AVP
1099
DELISTED
Avon Products, Inc.
AVP
$381K 0.03%
129,670
+1,730
+1% +$4.35K
JACK icon
1100
Jack in the Box
JACK
$358M
$378K 0.03%
4,660
-1,530
-25% -$122K
42 43
44
45 46

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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.