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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
MNK
1201
DELISTED
MALLINCKRODT PUBLIC LIMITED COMPANY
MNK
$328K 0.02%
15,080
-4,920
-25% -$105K
SM icon
1202
SM Energy
SM
$7.71B
$327K 0.02%
18,680
-6,110
-25% -$109K
PDCO
1203
DELISTED
Patterson Companies, Inc.
PDCO
$327K 0.02%
14,960
-4,870
-25% -$108K
NCMI icon
1204
National CineMedia
NCMI
$252M
$325K 0.02%
4,604
– –
PAHC icon
1205
Phibro Animal Health
PAHC
$1.38B
$325K 0.02%
9,850
+100
+1% +$3.11K
TPH
1206
DELISTED
Tri Pointe Homes
TPH
$325K 0.02%
25,750
-9,850
-28% -$125K
BREW
1207
DELISTED
Craft Brew Alliance, Inc.
BREW
$325K 0.02%
23,270
– –
GES
1208
DELISTED
Guess Inc
GES
$324K 0.02%
16,530
– –
EBIX
1209
DELISTED
Ebix Inc
EBIX
$324K 0.02%
6,560
– –
SCHL icon
1210
Scholastic
SCHL
$784M
$323K 0.02%
8,130
+120
+1% +$4.95K
RCKY icon
1211
Rocky Brands
RCKY
$353M
$322K 0.02%
13,430
– –
TWTR
1212
DELISTED
Twitter, Inc.
TWTR
$322K 0.02%
9,790
-9,460
-49% -$300K
XEC
1213
DELISTED
CIMAREX ENERGY CO
XEC
$322K 0.02%
4,610
-1,110
-19% -$79.9K
TACO
1214
DELISTED
Del Taco Restaurants, Inc. Common Stock
TACO
$322K 0.02%
32,050
– –
GTX icon
1215
Garrett Motion
GTX
$5.35B
$320K 0.02%
21,700
+220
+1% +$3.31K
PIPR icon
1216
Piper Sandler
PIPR
$5.54B
$320K 0.02%
17,560
– –
GTY
1217
Getty Realty Corp
GTY
$2.05B
$319K 0.02%
9,968
+270
+3% +$8.63K
TRC icon
1218
Tejon Ranch
TRC
$443M
$319K 0.02%
18,130
– –
NP
1219
DELISTED
Neenah, Inc. Common Stock
NP
$318K 0.02%
4,940
+70
+1% +$4.65K
IMMR icon
1220
Immersion
IMMR
$248M
$317K 0.02%
37,570
– –
WSTL
1221
DELISTED
Westell Technologies Inc
WSTL
$316K 0.02%
154,680
– –
EPM icon
1222
Evolution Petroleum
EPM
$135M
$315K 0.02%
+46,690
New +$340K
BHE icon
1223
Benchmark Electronics
BHE
$2.89B
$314K 0.02%
11,950
-690
-5% -$17.7K
CAL icon
1224
Caleres
CAL
$461M
$313K 0.02%
12,660
+170
+1% +$4.86K
OFIX icon
1225
Orthofix Medical
OFIX
$415M
$313K 0.02%
5,550
+80
+1% +$4.49K
47 48
49
50 51

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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
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.