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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
SAFE
1501
Safehold
SAFE
$1.09B
$168K 0.01%
4,094
+55
+1% +$2.43K
UDR icon
1502
UDR
UDR
$12.1B
$168K 0.01%
3,700
-3,490
-49% -$151K
AAP icon
1503
Advance Auto Parts
AAP
$3.4B
$167K 0.01%
980
-1,010
-51% -$163K
MAA icon
1504
Mid-America Apartment Communities
MAA
$15.6B
$167K 0.01%
1,530
-1,530
-50% -$157K
REI icon
1505
Ring Energy
REI
$349M
$167K 0.01%
28,450
+1,290
+5% +$7.67K
SPTN
1506
DELISTED
SpartanNash
SPTN
$167K 0.01%
10,530
+140
+1% +$2.69K
NRG icon
1507
NRG Energy
NRG
$25.4B
$166K 0.01%
3,900
-4,250
-52% -$176K
TXT icon
1508
Textron
TXT
$15B
$166K 0.01%
3,270
-3,570
-52% -$184K
AEGN
1509
DELISTED
Aegion Corp
AEGN
$165K 0.01%
9,400
+210
+2% +$3.81K
HRL icon
1510
Hormel Foods
HRL
$13.5B
$164K 0.01%
3,660
-3,640
-50% -$156K
KLXE icon
1511
KLX Energy Services
KLXE
$36M
$164K 0.01%
1,302
+146
+13% +$19.4K
ATO icon
1512
Atmos Energy
ATO
$28.7B
$163K 0.01%
1,580
-25,140
-94% -$2.45M
BR icon
1513
Broadridge
BR
$19.2B
$163K 0.01%
1,570
-1,560
-50% -$156K
AES icon
1514
AES
AES
$10.5B
$161K 0.01%
8,900
-8,870
-50% -$149K
EGRX
1515
DELISTED
Eagle Pharmaceuticals, Inc.
EGRX
$161K 0.01%
3,180
– –
IMBI
1516
DELISTED
iMedia Brands, Inc. Class A Common Stock
IMBI
$161K 0.01%
34,418
– –
NPK icon
1517
National Presto Industries
NPK
$983M
$160K 0.01%
1,470
+20
+1% +$2.33K
TSCO icon
1518
Tractor Supply
TSCO
$18.6B
$160K 0.01%
8,200
-8,150
-50% -$148K
SIVB
1519
DELISTED
SVB Financial Group
SIVB
$160K 0.01%
720
-670
-48% -$156K
ETFC
1520
DELISTED
E*Trade Financial Corporation
ETFC
$159K 0.01%
3,420
-3,690
-52% -$176K
CASH icon
1521
Pathward Financial
CASH
$1.8B
$158K 0.01%
8,030
+260
+3% +$5.68K
WYNN icon
1522
Wynn Resorts
WYNN
$10.6B
$158K 0.01%
1,320
-1,290
-49% -$154K
AKAM icon
1523
Akamai
AKAM
$18B
$157K 0.01%
2,190
-2,240
-51% -$152K
VNO icon
1524
Vornado Realty Trust
VNO
$7.42B
$157K 0.01%
2,330
-2,320
-50% -$156K
CUBI icon
1525
Customers Bancorp
CUBI
$2.83B
$156K 0.01%
8,540
+190
+2% +$3.79K
59 60
61
62 63

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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
HI
Horizon Investments Charlotte, North Carolina $8.92B AUM 25.62% 1-Year Est. Return
PEA
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SUT
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MU
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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.