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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
ODFL icon
126
Old Dominion Freight Line
ODFL
$44.1B
$1.72M 0.11%
35,760
-11,520
-24% -$538K
NVR icon
127
NVR
NVR
$16.8B
$1.72M 0.11%
620
-200
-24% -$526K
DFIN icon
128
Donnelley Financial Solutions
DFIN
$1.17B
$1.72M 0.11%
115,270
+170
+0.1% +$2.56K
LDOS icon
129
Leidos
LDOS
$17.6B
$1.71M 0.11%
26,730
-9,440
-26% -$570K
WRLD icon
130
World Acceptance Corp
WRLD
$884M
$1.71M 0.11%
14,620
+30
+0.2% +$3.4K
CHEF icon
131
Chefs' Warehouse
CHEF
$4.53B
$1.71M 0.11%
55,060
+140
+0.3% +$4.59K
PNC icon
132
PNC Financial Services
PNC
$102B
$1.71M 0.11%
13,910
-6,220
-31% -$770K
RTN
133
DELISTED
Raytheon Company
RTN
$1.7M 0.11%
9,360
-3,760
-29% -$655K
ED icon
134
Consolidated Edison
ED
$39.9B
$1.7M 0.11%
20,060
-4,020
-17% -$321K
MKTX icon
135
MarketAxess Holdings
MKTX
$5.72B
$1.7M 0.11%
6,890
-2,140
-24% -$485K
YUM icon
136
Yum! Brands
YUM
$41B
$1.69M 0.11%
16,960
-4,290
-20% -$406K
LOW icon
137
Lowe's Companies
LOW
$121B
$1.69M 0.11%
15,450
-10,940
-41% -$1.09M
AVGO icon
138
Broadcom
AVGO
$1.98T
$1.68M 0.11%
55,980
-59,900
-52% -$1.62M
IMKTA icon
139
Ingles Markets
IMKTA
$1.66B
$1.66M 0.11%
60,120
– –
PYPL icon
140
PayPal
PYPL
$50.6B
$1.66M 0.11%
15,950
-15,830
-50% -$1.5M
NNN icon
141
NNN REIT
NNN
$8.79B
$1.64M 0.11%
29,560
-8,170
-22% -$423K
ITW icon
142
Illinois Tool Works
ITW
$83.3B
$1.63M 0.11%
11,380
-4,120
-27% -$570K
CCI icon
143
Crown Castle
CCI
$31.5B
$1.63M 0.11%
12,730
-5,520
-30% -$647K
RGA icon
144
Reinsurance Group of America
RGA
$16.1B
$1.62M 0.11%
11,440
-3,860
-25% -$556K
Y
145
DELISTED
Alleghany Corp
Y
$1.62M 0.11%
2,650
-930
-26% -$581K
COP icon
146
ConocoPhillips
COP
$153B
$1.62M 0.11%
24,260
-15,620
-39% -$1.05M
MOH icon
147
Molina Healthcare
MOH
$10.8B
$1.61M 0.11%
11,370
-3,470
-23% -$469K
LYV icon
148
Live Nation Entertainment
LYV
$43.2B
$1.6M 0.11%
25,210
-7,950
-24% -$451K
CGNX icon
149
Cognex
CGNX
$10.2B
$1.6M 0.11%
31,390
-9,950
-24% -$476K
ADI icon
150
Analog Devices
ADI
$187B
$1.59M 0.11%
15,072
-4,970
-25% -$499K
4 5
6
7 8

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VAS
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SFM
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AI
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HI
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PEA
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SUT
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WPL
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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.