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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
AHRT
1526
AH Realty Trust
AHRT
$508M
$247K 0.01%
18,010
+1,160
+7% +$16.1K
BBWI icon
1527
Bath & Body Works
BBWI
$3.79B
$246K 0.01%
7,979
– –
BFS
1528
Saul Centers
BFS
$859M
$246K 0.01%
4,830
+290
+6% +$15.4K
CLW icon
1529
Clearwater Paper
CLW
$351M
$246K 0.01%
6,290
+120
+2% +$4.99K
UDR icon
1530
UDR
UDR
$12.2B
$246K 0.01%
6,910
– –
AAOI icon
1531
Applied Optoelectronics
AAOI
$11.3B
$245K 0.01%
9,800
+520
+6% +$16.2K
LNT icon
1532
Alliant Energy
LNT
$18.3B
$244K 0.01%
5,970
– –
RRD
1533
DELISTED
RR Donnelley & Sons Co.
RRD
$244K 0.01%
27,960
+1,690
+6% +$14K
DRE
1534
DELISTED
Duke Realty Corp.
DRE
$243K 0.01%
9,190
– –
LKSD
1535
DELISTED
LSC Communications, Inc.
LKSD
$243K 0.01%
13,940
+810
+6% +$12.1K
AVY icon
1536
Avery Dennison
AVY
$13.7B
$242K 0.01%
2,280
– –
ORIT
1537
DELISTED
Oritani Financial Corp. New
ORIT
$241K 0.01%
15,730
+930
+6% +$15K
AOS icon
1538
A.O. Smith
AOS
$8.51B
$240K 0.01%
3,780
– –
VIVO
1539
DELISTED
Meridian Bioscience Inc
VIVO
$240K 0.01%
16,900
+1,060
+7% +$15.7K
HRL icon
1540
Hormel Foods
HRL
$13.5B
$239K 0.01%
6,960
– –
NRG icon
1541
NRG Energy
NRG
$25.2B
$237K 0.01%
7,770
– –
TSQ icon
1542
Townsquare Media
TSQ
$103M
$237K 0.01%
29,880
– –
MTUS icon
1543
Metallus
MTUS
$895M
$237K 0.01%
15,630
+980
+7% +$16.4K
GL icon
1544
Globe Life
GL
$14.1B
$235K 0.01%
2,790
– –
HSII
1545
DELISTED
Heidrick & Struggles
HSII
$234K 0.01%
7,500
+470
+7% +$12.8K
RRC icon
1546
Range Resources
RRC
$9.33B
$233K 0.01%
16,030
– –
SVU
1547
DELISTED
SUPERVALU Inc.
SVU
$233K 0.01%
15,317
+970
+7% +$15.4K
DFIN icon
1548
Donnelley Financial Solutions
DFIN
$1.22B
$232K 0.01%
13,520
+840
+7% +$16.4K
ETD icon
1549
Ethan Allen Interiors
ETD
$585M
$232K 0.01%
10,100
+540
+6% +$13.6K
QRVO icon
1550
Qorvo
QRVO
$8.68B
$232K 0.01%
3,290
– –
60 61
62
63 64

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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
Platinum Equity Advisors Beverly Hills, California $8.88B AUM 27.09% 1-Year Est. Return
SUT
SC US (TTGP) Menlo Park, California $9.25B AUM 20.49% 1-Year Est. Return
MU
Mirova US Boston, Massachusetts $8.81B AUM 21.38% 1-Year Est. Return
WPL
WINDACRE PARTNERSHIP LLC Houston, Texas $9.34B AUM 17.41% 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.