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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
FFIV icon
1576
F5
FFIV
$23.8B
$129K 0.01%
820
-820
-50% -$132K
TR icon
1577
Tootsie Roll Industries
TR
$3.03B
$129K 0.01%
4,257
-1,494
-26% -$42.1K
TPR icon
1578
Tapestry
TPR
$26.4B
$127K 0.01%
3,900
-3,730
-49% -$131K
CYH icon
1579
Community Health Systems
CYH
$417M
$125K 0.01%
33,620
– –
PEI
1580
DELISTED
Pennsylvania Real Estate Investment Trust
PEI
$125K 0.01%
1,322
– –
MTUS icon
1581
Metallus
MTUS
$895M
$124K 0.01%
11,420
+370
+3% +$4.26K
HSIC icon
1582
Henry Schein
HSIC
$9.94B
$123K 0.01%
2,050
-3,088
-60% -$186K
DISCK
1583
DELISTED
Discovery, Inc. Series C Common Stock
DISCK
$123K 0.01%
4,844
-4,810
-50% -$126K
J icon
1584
Jacobs Solutions
J
$16.8B
$121K 0.01%
1,946
-1,814
-48% -$102K
LKQ icon
1585
LKQ Corp
LKQ
$6.22B
$121K 0.01%
4,280
-4,260
-50% -$115K
QRVO icon
1586
Qorvo
QRVO
$8.69B
$121K 0.01%
1,680
-1,610
-49% -$107K
TG icon
1587
Tredegar Corp
TG
$277M
$120K 0.01%
7,430
+240
+3% +$4.06K
HAYN
1588
DELISTED
Haynes International, Inc.
HAYN
$120K 0.01%
3,640
+110
+3% +$3.55K
LDL
1589
DELISTED
Lydall, Inc.
LDL
$119K 0.01%
5,070
+170
+3% +$4.3K
BF.B icon
1590
Brown-Forman Class B
BF.B
$12.9B
$118K 0.01%
2,235
-2,270
-50% -$110K
PGNX
1591
DELISTED
Progenics Pharmaceuticals Inc
PGNX
$115K 0.01%
24,780
+530
+2% +$2.4K
WHR icon
1592
Whirlpool
WHR
$2.83B
$114K 0.01%
860
-1,030
-54% -$136K
GL icon
1593
Globe Life
GL
$14B
$113K 0.01%
1,380
-1,410
-51% -$115K
NLSN
1594
DELISTED
Nielsen Holdings plc
NLSN
$113K 0.01%
4,770
-4,750
-50% -$123K
CHUY
1595
DELISTED
Chuy's Holdings, Inc. Common Stock
CHUY
$112K 0.01%
4,930
+160
+3% +$3.5K
HWM icon
1596
Howmet Aerospace
HWM
$112B
$110K 0.01%
7,537
-6,977
-48% -$100K
NKTR icon
1597
Nektar Therapeutics
NKTR
$2.58B
$110K 0.01%
219
-153
-41% -$90.7K
WU icon
1598
Western Union
WU
$2.27B
$110K 0.01%
5,950
-6,040
-50% -$109K
AGYS icon
1599
Agilysys
AGYS
$3.05B
$109K 0.01%
5,170
+140
+3% +$2.59K
GHL
1600
DELISTED
Greenhill & Co., Inc.
GHL
$108K 0.01%
5,040
– –
62 63
64
65 66

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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.