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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
-0.79%
1 Year Est. Return
+13.04%
3 Year Est. Return
+34.61%
5 Year Est. Return
+23.86%
10 Year Est. Return
–
AUM
$2.06B
AUM Growth
+$59.9M
Cap. Flow
+$109M
Cap. Flow %
5.3%
Top 10 Hldgs %
7.34%
Holding
1,705
New
30
Increased
821
Reduced
51
Closed
24

Top Buys

Rank Stock Value
1
NGL icon
NGL Energy Partners
NGL
+$6.75M
2
NS
NuStar Energy L.P.
NS
+$4.92M
3
BWP
Boardwalk Pipeline Partners
BWP
+$4.28M
4
GEL icon
Genesis Energy
GEL
+$4.04M
5
DM
Dominion Energy Midstream Ptr LP
DM
+$3.78M

Top Sells

Rank Stock Value
1
NKTR icon
Nektar Therapeutics
NKTR
+$4.72M
2
SIVB
SVB Financial Group
SIVB
+$3.65M
3
TTWO icon
Take-Two Interactive
TTWO
+$3.53M
4
AFAM
Almost Family Inc
AFAM
+$3.29M
5
HII icon
Huntington Ingalls Industries
HII
+$3.11M

Sector Composition

Rank Sector Weight
1 Financials 15.44%
2 Technology 13.93%
3 Industrials 13.78%
4 Healthcare 11.28%
5 Consumer Discretionary 9.86%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AZO icon
1201
AutoZone
AZO
$49.6B
$467K 0.02%
720
– –
INVA icon
1202
Innoviva
INVA
$1.5B
$467K 0.02%
27,990
– –
SAFT icon
1203
Safety Insurance
SAFT
$1.52B
$467K 0.02%
6,080
+350
+6% +$26.8K
BGSF icon
1204
BGSF Inc
BGSF
$59.2M
$466K 0.02%
24,520
– –
DIOD icon
1205
Diodes
DIOD
$4.48B
$466K 0.02%
15,310
+820
+6% +$24.5K
OSIS icon
1206
OSI Systems
OSIS
$3.77B
$466K 0.02%
7,140
+480
+7% +$31.1K
ECOL
1207
DELISTED
US Ecology, Inc.
ECOL
$466K 0.02%
8,740
+550
+7% +$29K
GPN icon
1208
Global Payments
GPN
$25.1B
$465K 0.02%
4,170
+230
+6% +$25.4K
AGX icon
1209
Argan
AGX
$7.84B
$464K 0.02%
10,810
– –
ENTA icon
1210
Enanta Pharmaceuticals
ENTA
$391M
$464K 0.02%
5,740
+370
+7% +$28.5K
CTB
1211
DELISTED
Cooper Tire & Rubber Co.
CTB
$462K 0.02%
15,780
– –
PZZA icon
1212
Papa John's
PZZA
$804M
$461K 0.02%
8,040
– –
EBF icon
1213
Ennis
EBF
$559M
$459K 0.02%
23,320
– –
SMCI icon
1214
Super Micro Computer
SMCI
$25.3B
$458K 0.02%
269,600
+2,900
+1% +$5.81K
FL
1215
DELISTED
Foot Locker
FL
$457K 0.02%
10,050
– –
VTR icon
1216
Ventas
VTR
$46.3B
$456K 0.02%
9,200
– –
RCKY icon
1217
Rocky Brands
RCKY
$353M
$455K 0.02%
21,220
– –
GNL icon
1218
Global Net Lease
GNL
$1.9B
$454K 0.02%
+26,900
New +$473K
VRE
1219
DELISTED
Veris Residential
VRE
$454K 0.02%
27,170
– –
AME icon
1220
Ametek
AME
$58.7B
$453K 0.02%
5,960
– –
PMT
1221
PennyMac Mortgage Investment
PMT
$828M
$453K 0.02%
+25,100
New +$420K
CROX icon
1222
Crocs
CROX
$6.36B
$452K 0.02%
27,800
– –
MGPI icon
1223
MGP Ingredients
MGPI
$389M
$449K 0.02%
+5,010
New +$407K
NKTR icon
1224
Nektar Therapeutics
NKTR
$2.57B
$448K 0.02%
281
-3,664
-93% -$4.72M
LABL
1225
DELISTED
Multi-Color Corp
LABL
$447K 0.02%
6,760
+350
+5% +$24.9K
47 48
49
50 51

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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
PEA
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SUT
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MU
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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 2018 Portfolio in Review

As of Q1 2018, Municipal Employees' Retirement System of Michigan held 1,705 positions worth $2.06B, up 3% from $2B the previous quarter. Its ten largest holdings account for 7.3% of the portfolio.

Municipal Employees' Retirement System of Michigan deployed $109M of net new capital in Q1 2018, opening 30 new positions and adding to 821 existing holdings. Its largest new stake was NGL Energy Partners: 490,740 shares worth $5.4M.

By sector, the portfolio is most concentrated in Financials at 15% of assets, down from 16% a quarter earlier, followed by Technology and Industrials.

On the sell side, the largest reduction was Nektar Therapeutics, an estimated $4.72M trimmed.

  • Municipal Employees' Retirement System of Michigan's largest Q1 2018 buy was NGL Energy Partners: 490,740 shares worth $5.4M.
  • Municipal Employees' Retirement System of Michigan added most to NuStar Energy L.P. in Q1 2018, an estimated $4.92M increase.
  • Municipal Employees' Retirement System of Michigan's biggest Q1 2018 reduction was Nektar Therapeutics, cutting an estimated $4.72M.
  • Municipal Employees' Retirement System of Michigan fully exited Bioverativ Inc. Common Stock in Q1 2018, selling an estimated $1.76M.
  • Municipal Employees' Retirement System of Michigan's ten largest holdings make up 7.3% of its $2.06B portfolio in Q1 2018.
  • Municipal Employees' Retirement System of Michigan opened 30 new positions and closed 24 in Q1 2018.
  • Municipal Employees' Retirement System of Michigan's portfolio value rose 3% quarter-over-quarter to $2.06B.

Based on Municipal Employees' Retirement System of Michigan's 13F filing for Q1 2018, filed 10 May 2018.