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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
TRHC
1276
DELISTED
Tabula Rasa HealthCare, Inc. Common Stock
TRHC
$291K 0.02%
5,160
+300
+6% +$17.9K
HNI icon
1277
HNI Corp
HNI
$3.56B
$288K 0.02%
7,930
-2,580
-25% -$99.2K
JWN
1278
DELISTED
Nordstrom
JWN
$287K 0.02%
6,460
-1,480
-19% -$67.5K
JOUT icon
1279
Johnson Outdoors
JOUT
$512M
$286K 0.02%
4,010
– –
MGPI icon
1280
MGP Ingredients
MGPI
$389M
$286K 0.02%
3,710
+60
+2% +$4.38K
ROK icon
1281
Rockwell Automation
ROK
$49.5B
$286K 0.02%
1,630
-1,690
-51% -$287K
KEM
1282
DELISTED
KEMET Corporation
KEM
$286K 0.02%
16,840
+250
+2% +$4.6K
CTS icon
1283
CTS Corp
CTS
$1.79B
$285K 0.02%
9,700
+130
+1% +$3.81K
VNDA icon
1284
Vanda Pharmaceuticals
VNDA
$304M
$285K 0.02%
15,480
+330
+2% +$7.52K
APTV icon
1285
Aptiv
APTV
$10.2B
$284K 0.02%
3,570
-3,450
-49% -$265K
BBW icon
1286
Build-A-Bear
BBW
$474M
$284K 0.02%
46,500
– –
MRTN icon
1287
Marten Transport
MRTN
$1.24B
$284K 0.02%
23,895
– –
FBC
1288
DELISTED
Flagstar Bancorp, Inc. New
FBC
$284K 0.02%
8,620
+120
+1% +$3.76K
IRT icon
1289
Independence Realty Trust
IRT
$4.01B
$283K 0.02%
26,240
+890
+4% +$9.15K
NNBR icon
1290
NN Inc
NNBR
$298M
$283K 0.02%
37,780
– –
ORIT
1291
DELISTED
Oritani Financial Corp. New
ORIT
$283K 0.02%
17,020
+160
+0.9% +$2.69K
OII icon
1292
Oceaneering
OII
$5.11B
$281K 0.02%
17,840
-5,840
-25% -$90.5K
RMAX icon
1293
RE/MAX Holdings
RMAX
$265M
$281K 0.02%
7,290
+130
+2% +$4.98K
UHT
1294
Universal Health Realty Income Trust
UHT
$573M
$281K 0.02%
3,710
+50
+1% +$3.56K
PBH icon
1295
Prestige Consumer Healthcare
PBH
$2.43B
$280K 0.02%
9,370
-3,070
-25% -$88K
TVTY
1296
DELISTED
Tivity Health, Inc. Common Stock
TVTY
$280K 0.02%
15,915
+2,195
+16% +$46.7K
LMNX
1297
DELISTED
Luminex Corp
LMNX
$280K 0.02%
12,150
+150
+1% +$3.77K
ALGN icon
1298
Align Technology
ALGN
$12.5B
$279K 0.02%
980
-980
-50% -$234K
GPMT
1299
Granite Point Mortgage Trust
GPMT
$58.8M
$279K 0.02%
15,030
+2,460
+20% +$46.4K
NWHM
1300
DELISTED
THE NEW HOME COMPANY INC.
NWHM
$279K 0.02%
58,610
– –
50 51
52
53 54

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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.