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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
CMO
1401
DELISTED
Capstead Mortgage Corp.
CMO
$215K 0.01%
25,000
-1,750
-7% -$13.7K
TSS
1402
DELISTED
Total System Services, Inc.
TSS
$215K 0.01%
2,260
-2,250
-50% -$203K
AXTI icon
1403
AXT Inc
AXTI
$5.07B
$214K 0.01%
48,100
– –
PZZA icon
1404
Papa John's
PZZA
$804M
$214K 0.01%
4,050
-1,460
-26% -$64.5K
HSII
1405
DELISTED
Heidrick & Struggles
HSII
$213K 0.01%
5,560
+80
+1% +$2.88K
XMAX
1406
XMAX Inc
XMAX
$565M
$213K 0.01%
9,665
– –
RUTH
1407
DELISTED
Ruth's Hospitality Group, Inc.
RUTH
$213K 0.01%
8,340
+180
+2% +$4.4K
CBRE icon
1408
CBRE Group
CBRE
$44B
$212K 0.01%
4,290
-4,200
-49% -$197K
CMS icon
1409
CMS Energy
CMS
$22.1B
$212K 0.01%
3,810
-3,800
-50% -$200K
FANG icon
1410
Diamondback Energy
FANG
$55.9B
$212K 0.01%
2,090
-1,990
-49% -$204K
TFIN icon
1411
Triumph Financial Inc
TFIN
$1.87B
$212K 0.01%
7,220
+330
+5% +$10.3K
VMC icon
1412
Vulcan Materials
VMC
$36B
$212K 0.01%
1,790
-1,760
-50% -$190K
SPN
1413
DELISTED
Superior Energy Services, Inc.
SPN
$212K 0.01%
4,530
+61
+1% +$2.62K
MCHB
1414
Mechanics Bancorp
MCHB
$3.79B
$208K 0.01%
7,910
+100
+1% +$2.6K
HSTM icon
1415
HealthStream
HSTM
$849M
$208K 0.01%
7,430
+140
+2% +$3.68K
NE
1416
DELISTED
Noble Corporation
NE
$208K 0.01%
72,340
+960
+1% +$2.99K
AMPH icon
1417
Amphastar Pharmaceuticals
AMPH
$858M
$207K 0.01%
10,120
– –
ARE icon
1418
Alexandria Real Estate Equities
ARE
$8.33B
$207K 0.01%
1,450
-1,380
-49% -$182K
INCY icon
1419
Incyte
INCY
$24.4B
$206K 0.01%
2,390
-2,210
-48% -$180K
ECHO
1420
DELISTED
Echo Global Logistics, Inc.
ECHO
$206K 0.01%
8,310
+170
+2% +$4.01K
CENX icon
1421
Century Aluminum
CENX
$4.59B
$205K 0.01%
23,100
+310
+1% +$2.68K
ADNT icon
1422
Adient
ADNT
$1.54B
$204K 0.01%
15,730
-5,140
-25% -$90K
LABL
1423
DELISTED
Multi-Color Corp
LABL
$204K 0.01%
4,090
+60
+1% +$2.81K
DRI icon
1424
Darden Restaurants
DRI
$25.4B
$203K 0.01%
1,670
-1,570
-48% -$172K
HES
1425
DELISTED
Hess
HES
$203K 0.01%
3,370
-3,610
-52% -$199K
55 56
57
58 59

Similar funds

VAS
Vestmark Advisory Solutions Wakefield, Massachusetts $9.02B AUM 20.58% 1-Year Est. Return
SFM
Soros Fund Management New York $9.12B AUM 30.69% 1-Year Est. Return
AI
Ariel Investments Chicago, Illinois $8.93B AUM 29.58% 1-Year Est. Return
PEA
Platinum Equity Advisors Beverly Hills, California $8.88B AUM 27.09% 1-Year Est. Return
SUT
SC US (TTGP) Menlo Park, California $9.25B AUM 20.49% 1-Year Est. Return
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
Partners Value Investments Hamilton, Bermuda $9.34B AUM 12.2% 1-Year Est. Return

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.