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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
VC icon
1151
Visteon
VC
$2.86B
$355K 0.02%
5,270
-1,790
-25% -$135K
SND icon
1152
Smart Sand
SND
$213M
$354K 0.02%
79,600
– –
IRMD icon
1153
iRadimed
IRMD
$1.11B
$353K 0.02%
+12,570
New +$329K
DINO icon
1154
HF Sinclair
DINO
$16.3B
$352K 0.02%
7,160
-2,540
-26% -$135K
JRVR icon
1155
James River Group Holdings
JRVR
$200M
$352K 0.02%
8,780
+120
+1% +$4.7K
PEBO icon
1156
Peoples Bancorp
PEBO
$1.49B
$352K 0.02%
+11,380
New +$365K
WKC icon
1157
World Kinect Corp
WKC
$1.9B
$352K 0.02%
12,170
-4,160
-25% -$109K
PXD
1158
DELISTED
Pioneer Natural Resource Co.
PXD
$352K 0.02%
2,310
-2,210
-49% -$312K
GNW icon
1159
Genworth Financial
GNW
$3.77B
$350K 0.02%
91,290
-29,040
-24% -$127K
GRBK icon
1160
Green Brick Partners
GRBK
$3.04B
$350K 0.02%
39,970
– –
INN
1161
Summit Hotel Properties
INN
$656M
$350K 0.02%
30,710
+410
+1% +$4.54K
PPBI
1162
DELISTED
Pacific Premier Bancorp
PPBI
$350K 0.02%
13,190
+200
+2% +$5.7K
DLX icon
1163
Deluxe
DLX
$1.11B
$349K 0.02%
7,990
-3,450
-30% -$155K
MSTR icon
1164
Strategy Inc
MSTR
$38.2B
$349K 0.02%
24,200
-3,100
-11% -$42.9K
SSP icon
1165
E.W. Scripps
SSP
$310M
$349K 0.02%
16,610
– –
AZO icon
1166
AutoZone
AZO
$49.6B
$348K 0.02%
340
-380
-53% -$341K
HAL icon
1167
Halliburton
HAL
$27.4B
$347K 0.02%
11,860
-11,770
-50% -$355K
MATW icon
1168
Matthews International
MATW
$722M
$347K 0.02%
9,400
+120
+1% +$4.88K
PAYX icon
1169
Paychex
PAYX
$44.6B
$347K 0.02%
4,330
-4,150
-49% -$306K
TILE icon
1170
Interface
TILE
$2.24B
$347K 0.02%
22,640
+240
+1% +$3.93K
CLDT
1171
Chatham Lodging
CLDT
$601M
$346K 0.02%
17,940
+270
+2% +$5.31K
CPF icon
1172
Central Pacific Financial
CPF
$1B
$346K 0.02%
11,980
+160
+1% +$4.49K
ALNT icon
1173
Allient
ALNT
$1.86B
$345K 0.02%
15,045
– –
EFII
1174
DELISTED
Electronics for Imaging
EFII
$345K 0.02%
12,830
– –
LAKE icon
1175
Lakeland Industries
LAKE
$117M
$344K 0.02%
29,270
– –
45 46
47
48 49

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VAS
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SFM
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AI
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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.