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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
GVA icon
1126
Granite Construction
GVA
$5.41B
$366K 0.02%
8,490
-2,490
-23% -$111K
RDI icon
1127
Reading International Class A
RDI
$33.2M
$366K 0.02%
22,920
– –
THRM icon
1128
Gentherm
THRM
$1.32B
$365K 0.02%
9,890
-660
-6% -$26.9K
UNIT
1129
Uniti Group
UNIT
$2.38B
$365K 0.02%
32,630
-9,590
-23% -$140K
WLY icon
1130
John Wiley & Sons Class A
WLY
$2.63B
$365K 0.02%
8,250
-2,560
-24% -$126K
CMC icon
1131
Commercial Metals
CMC
$7.98B
$364K 0.02%
21,300
-6,820
-24% -$113K
TEX icon
1132
Terex
TEX
$7.57B
$364K 0.02%
11,330
-4,260
-27% -$135K
VRE
1133
DELISTED
Veris Residential
VRE
$363K 0.02%
16,350
-5,350
-25% -$112K
APA icon
1134
APA Corp
APA
$14B
$362K 0.02%
10,450
-5,030
-32% -$164K
BJRI icon
1135
BJ's Restaurants
BJRI
$1.42B
$362K 0.02%
7,660
+120
+2% +$6.02K
CORT icon
1136
Corcept Therapeutics
CORT
$11.9B
$362K 0.02%
30,800
+260
+0.9% +$3.23K
MTDR icon
1137
Matador Resources
MTDR
$6.39B
$362K 0.02%
18,750
-6,140
-25% -$114K
ECOL
1138
DELISTED
US Ecology, Inc.
ECOL
$362K 0.02%
6,460
+100
+2% +$6.09K
DDD icon
1139
3D Systems Corp
DDD
$601M
$360K 0.02%
33,470
+490
+1% +$5.82K
TT icon
1140
Trane Technologies
TT
$105B
$359K 0.02%
3,330
-3,220
-49% -$326K
FTI icon
1141
TechnipFMC
FTI
$30.1B
$358K 0.02%
20,456
-7,566
-27% -$128K
GLW icon
1142
Corning
GLW
$137B
$358K 0.02%
10,830
-11,180
-51% -$367K
MCFT icon
1143
MasterCraft Boat Holdings
MCFT
$598M
$358K 0.02%
15,840
– –
PRGO icon
1144
Perrigo
PRGO
$1.78B
$358K 0.02%
7,440
-1,750
-19% -$81.9K
CIO
1145
DELISTED
City Office REIT
CIO
$357K 0.02%
31,550
– –
SKT icon
1146
Tanger
SKT
$4.42B
$357K 0.02%
17,000
-5,570
-25% -$120K
GORO icon
1147
Goldgroup Mining Inc.
GORO
$211M
$356K 0.02%
90,520
– –
LUV icon
1148
Southwest Airlines
LUV
$22B
$356K 0.02%
6,850
-7,380
-52% -$389K
PLUS icon
1149
ePlus
PLUS
$2.31B
$356K 0.02%
8,040
+100
+1% +$4.16K
NTCT icon
1150
NETSCOUT
NTCT
$2.89B
$355K 0.02%
12,660
-4,760
-27% -$126K
44 45
46
47 48

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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
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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.