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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
CRR
1676
DELISTED
Carbo Ceramics Inc.
CRR
$22K ﹤0.01%
6,260
– –
NWS icon
1677
News Corp Class B
NWS
$17.9B
$21K ﹤0.01%
1,660
-2,630
-61% -$33.6K
NEP
1678
DELISTED
CHINA NORTH EAST PETROLEUM HLDGS LTD
NEP
$5K ﹤0.01%
30,200
– –
LLEN
1679
DELISTED
L & L ENERGY INC COM STK (NV)
LLEN
$1K ﹤0.01%
48,200
– –
CETX icon
1680
Cemtrex
CETX
$5.16M
– –
0
– -$76K
CVV icon
1681
CVD Equipment Corp
CVV
$52.1M
– –
-52,567
Closed -$187K
ENB icon
1682
Enbridge
ENB
$112B
– –
-401,679
Closed -$12.5M
KG
1683
Kestrel Group
KG
$67.4M
– –
-961
Closed -$32K
PCG icon
1684
PG&E
PCG
$38.8B
– –
-13,690
Closed -$325K
ISEE
1685
DELISTED
IVERIC bio, Inc. Common Stock
ISEE
– –
-383,660
Closed -$460K
FRAN
1686
DELISTED
Francesca's Holdings Corporation
FRAN
– –
-815
Closed -$9K
QHC
1687
DELISTED
Quorum Health Corporation
QHC
– –
-7,970
Closed -$23K
AREX
1688
DELISTED
Approach Resources Inc.
AREX
– –
-183,120
Closed -$160K
BRS
1689
DELISTED
Bristow Group, Inc.
BRS
– –
-10,190
Closed -$25K
CLD
1690
DELISTED
Cloud Peak Energy Inc
CLD
– –
-21,360
Closed -$8K
MBFI
1691
DELISTED
MB Financial Corp
MBFI
– –
-20,240
Closed -$802K
TFCFA
1692
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
– –
-28,300
Closed -$1.36M
TFCF
1693
DELISTED
Twenty-First Century Fox, Inc. Class B
TFCF
– –
-13,020
Closed -$622K
ESL
1694
DELISTED
Esterline Technologies
ESL
– –
-6,370
Closed -$774K
NTRI
1695
DELISTED
NutriSystem, Inc.
NTRI
– –
-8,430
Closed -$370K
ITG
1696
DELISTED
Investment Technology Group Inc
ITG
– –
-9,540
Closed -$288K
AHL
1697
DELISTED
ASPEN Insurance Holding Limited
AHL
– –
-14,350
Closed -$603K
NFX
1698
DELISTED
Newfield Exploration
NFX
– –
-13,940
Closed -$204K
DNB
1699
DELISTED
Dun & Bradstreet
DNB
– –
-8,920
Closed -$1.27M
VVC
1700
DELISTED
Vectren Corporation
VVC
– –
-19,970
Closed -$1.44M
65 66 67
68
69

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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
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.