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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
CTAS icon
1376
Cintas
CTAS
$80.3B
$236K 0.02%
4,680
-4,480
-49% -$217K
NTAP icon
1377
NetApp
NTAP
$40.2B
$235K 0.02%
3,390
-3,580
-51% -$231K
CMG icon
1378
Chipotle Mexican Grill
CMG
$41.3B
$234K 0.02%
16,500
-16,000
-49% -$186K
ETR icon
1379
Entergy
ETR
$49.9B
$234K 0.02%
4,900
-4,680
-49% -$212K
IIPR icon
1380
Innovative Industrial Properties
IIPR
$1.67B
$234K 0.02%
+2,870
New +$194K
USAP
1381
DELISTED
Universal Stainless & Alloy
USAP
$234K 0.02%
14,110
– –
NXGN
1382
DELISTED
NextGen Healthcare, Inc. Common Stock
NXGN
$234K 0.02%
13,930
+190
+1% +$3.29K
PBI icon
1383
Pitney Bowes
PBI
$2.28B
$233K 0.02%
33,970
-11,220
-25% -$77.6K
AHRT
1384
AH Realty Trust
AHRT
$506M
$231K 0.02%
14,800
+660
+5% +$9.94K
SNPS icon
1385
Synopsys
SNPS
$78.8B
$231K 0.02%
2,010
-1,870
-48% -$185K
TLRD
1386
DELISTED
Tailored Brands, Inc.
TLRD
$227K 0.02%
28,870
+230
+0.8% +$2.72K
FSP
1387
Franklin Street Properties
FSP
$46.4M
$226K 0.02%
31,430
+420
+1% +$3.02K
SPNT icon
1388
SiriusPoint
SPNT
$2.7B
$226K 0.02%
21,810
+290
+1% +$3.08K
TUP
1389
DELISTED
Tupperware Brands Corporation
TUP
$225K 0.02%
8,800
-3,180
-27% -$97K
BID
1390
DELISTED
Sotheby's
BID
$225K 0.02%
5,960
-2,660
-31% -$107K
GPC icon
1391
Genuine Parts
GPC
$18.7B
$223K 0.01%
1,990
-1,950
-49% -$202K
M icon
1392
Macy's
M
$6.27B
$223K 0.01%
9,310
-4,110
-31% -$104K
FRC
1393
DELISTED
First Republic Bank
FRC
$223K 0.01%
+2,220
New +$219K
ANET icon
1394
Arista Networks
ANET
$257B
$220K 0.01%
11,200
-10,880
-49% -$173K
FARO
1395
DELISTED
Faro Technologies
FARO
$220K 0.01%
5,020
+110
+2% +$4.85K
KEYS icon
1396
Keysight
KEYS
$60.5B
$220K 0.01%
2,520
-2,510
-50% -$195K
AGFS
1397
DELISTED
AgroFresh Solutions Inc
AGFS
$220K 0.01%
65,760
– –
LLL
1398
DELISTED
L3 Technologies, Inc.
LLL
$219K 0.01%
1,060
-1,020
-49% -$202K
ETD icon
1399
Ethan Allen Interiors
ETD
$583M
$217K 0.01%
11,330
+190
+2% +$3.63K
MODV
1400
DELISTED
ModivCare
MODV
$215K 0.01%
3,230
+40
+1% +$2.62K
54 55
56
57 58

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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.