NPORT-EX 3 NPORT_13527799440506762.htm Mercer Funds

Mercer US Large Cap Equity Fund

Schedule of Investments

(showing percentage of net assets)

June 30, 2020 (Unaudited)

 

Shares          Description    Value ($)  
   

COMMON STOCKS — 95.7%

 

          Basic Materials — 2.9%  
  83,000      

Alcoa Corp.*

      932,920  
  68,486      

Celanese Corp. Class A

      5,913,081  
  64,786      

CF Industries Holdings, Inc.

      1,823,078  
  16,039      

DOW, Inc.*

      653,750  
  204,423      

DuPont de Nemours, Inc.

      10,860,994  
  26,700      

Eastman Chemical Co.

      1,859,388  
  199,000      

Freeport-McMoRan, Inc.

      2,302,430  
  104,700      

Huntsman Corp.

      1,881,459  
  19,700      

International Paper Co.

      693,637  
  13,152      

LyondellBasell Industries NV Class A

      864,349  
  71,200      

Newmont Corp.

      4,395,888  
      

 

 

  
         32,180,974  
      

 

 

  
          Communications — 17.0%  
  25,184      

Alibaba Group Holding, Ltd., ADR*

      5,432,189  
  8,807      

Alphabet, Inc. Class A*

      12,488,766  
  17,227      

Alphabet, Inc. Class C*

      24,352,259  
  81,746      

Altice USA, Inc. Class A*

      1,842,555  
  7,702      

Amazon.com, Inc.*

      21,248,432  
  11,500      

Arista Networks, Inc.*

      2,415,345  
  336,797      

AT&T, Inc.

      10,181,373  
  499      

Booking Holdings, Inc.*

      794,578  
  50,545      

CenturyLink, Inc.

      506,966  
  199,066      

Cisco Systems, Inc.

      9,284,438  
  167,494      

Comcast Corp. Class A

      6,528,916  
  118,604      

eBay, Inc.

      6,220,780  
  145,895      

Facebook, Inc. Class A*

      33,128,378  
  44,445      

Liberty Global Plc Class C*

      956,012  
  5,932      

Match Group, Inc.* (a)

      635,021  
  25,671      

Netflix, Inc.*

      11,681,332  
  8,816      

Shopify, Inc. Class A*

      8,368,147  
  8,398      

Spotify Technology SA*

      2,168,280  
  79,812      

Tencent Holdings, Ltd., ADR

      5,107,968  
  5,977      

Trade Desk, Inc. (The) Class A* (a)

      2,429,650  
  163,334      

Uber Technologies, Inc.*

      5,076,421  
  187,930      

Verizon Communications, Inc.

      10,360,581  
  60,341      

Walt Disney Co. (The)

      6,728,625  
      

 

 

  
         187,937,012  
      

 

 

  
          Consumer, Cyclical — 9.2%  
  2,937      

Chipotle Mexican Grill, Inc. Class A*

      3,090,781  
  14,001      

Costco Wholesale Corp.

      4,245,243  
  10,435      

Cummins, Inc.

      1,807,968  
  32,200      

Darden Restaurants, Inc.

      2,439,794  
  108,237      

Delta Air Lines, Inc.

      3,036,048  
  44,770      

Dollar General Corp.

      8,529,133  
  83,700      

Dollar Tree, Inc.*

      7,757,316  

 

 

See accompanying Notes to the Schedule of Investments.

1

Mercer US Large Cap Equity Fund

Schedule of Investments (Continued)

(showing percentage of net assets)

June 30, 2020 (Unaudited)

 

Shares          Description    Value ($)  
          Consumer, Cyclical — continued  
  19,900      

DR Horton, Inc.

      1,103,455  
  137,303      

General Motors Co.

      3,473,766  
  17,798      

Home Depot, Inc. (The)

      4,458,577  
  52,934      

Kering SA, ADR

      2,903,430  
  67,900      

Lowe’s Cos., Inc.

      9,174,648  
  20,009      

Lululemon Athletica, Inc.*

      6,243,008  
  28,405      

LVMH Moet Hennessy Louis Vuitton SE, ADR

      2,511,854  
  18,730      

Magna International, Inc.

      834,047  
  95,625      

NIKE, Inc. Class B

      9,376,031  
  67,100      

PulteGroup, Inc.

      2,283,413  
  165,710      

Starbucks Corp.

      12,194,599  
  10,764      

Tesla, Inc.*

      11,623,075  
  5,260      

Ulta Beauty, Inc.*

      1,069,989  
  91,872      

Walgreens Boots Alliance, Inc.

      3,894,454  
      

 

 

  
         102,050,629  
      

 

 

  
          Consumer, Non-cyclical — 22.5%  
  230,189      

Abbott Laboratories

      21,046,180  
  15,300      

AbbVie, Inc.

      1,502,154  
  194,913      

Adyen NV, ADR* (a)

      5,701,205  
  17,800      

Alexion Pharmaceuticals, Inc.*

      1,997,872  
  24,260      

Align Technology, Inc.*

      6,657,914  
  43,163      

Altria Group, Inc.

      1,694,148  
  25,069      

Amgen, Inc.

      5,912,774  
  193,100      

Archer-Daniels-Midland Co.

      7,704,690  
  128,800      

AstraZeneca Plc, ADR

      6,812,232  
  44,418      

Automatic Data Processing, Inc.

      6,613,396  
  8,642      

Biogen, Inc.*

      2,312,167  
  24,481      

BioMarin Pharmaceutical, Inc.*

      3,019,486  
  61,063      

Boston Scientific Corp.*

      2,143,922  
  33,400      

Bristol-Myers Squibb Co.

      1,963,920  
  140,700      

Cardinal Health, Inc.

      7,343,133  
  36,700      

Cigna Corp.

      6,886,755  
  209,764      

Conagra Brands, Inc.

      7,377,400  
  178,100      

CVS Health Corp.

      11,571,157  
  22,448      

DaVita, Inc.*

      1,776,535  
  7,912      

DexCom, Inc.*

      3,207,525  
  70,708      

Eli Lilly & Co.

      11,608,839  
  19,358      

Estee Lauder Cos., Inc. (The) Class A

      3,652,467  
  47,590      

Gartner, Inc.*

      5,774,095  
  11,474      

Guardant Health, Inc.*

      930,886  
  18,400      

HCA Healthcare, Inc.

      1,785,904  
  6,769      

Humana, Inc.

      2,624,680  
  3,982      

Illumina, Inc.*

      1,474,734  
  35,200      

Ingredion, Inc.

      2,921,600  
  3,135      

Intuitive Surgical, Inc.*

      1,786,417  
  17,300      

Jazz Pharmaceuticals Plc*

      1,908,882  
  70,700      

Johnson & Johnson

      9,942,541  
  107,200      

Kroger Co. (The)

      3,628,720  

 

 

See accompanying Notes to the Schedule of Investments.

2

Mercer US Large Cap Equity Fund

Schedule of Investments (Continued)

(showing percentage of net assets)

June 30, 2020 (Unaudited)

 

Shares          Description    Value ($)  
          Consumer, Non-cyclical — continued  
  31,061      

McKesson Corp.

      4,765,379  
  13,500      

Medtronic Plc

      1,237,950  
  88,900      

Merck & Co., Inc.

      6,874,637  
  59,300      

Molson Coors Beverage Co. Class B

      2,037,548  
  132,500      

Mondelez International, Inc. Class A

      6,774,725  
  89,280      

Mylan NV*

      1,435,622  
  104,349      

PayPal Holdings, Inc.*

      18,180,726  
  378,670      

Pfizer, Inc.

      12,382,509  
  15,330      

Regeneron Pharmaceuticals, Inc.*

      9,560,554  
  8,768      

S&P Global, Inc.

      2,888,881  
  6,915      

Teladoc Health, Inc.* (a)

      1,319,659  
  58,720      

Tyson Foods, Inc. Class A

      3,506,171  
  9,786      

Vertex Pharmaceuticals, Inc.*

      2,840,974  
  11,900      

Zimmer Biomet Holdings, Inc.

      1,420,384  
  84,917      

Zoetis, Inc.

      11,637,026  
      

 

 

  
         248,147,075  
      

 

 

  
          Energy — 1.4%  
  105,328      

BP Plc, ADR (a)

      2,456,249  
  109,700      

Canadian Natural Resources, Ltd.

      1,912,071  
  23,900      

Chevron Corp.

      2,132,597  
  211,771      

ConocoPhillips

      8,898,618  
      

 

 

  
         15,399,535  
      

 

 

  
          Financial — 16.2%  
  67,100      

Allstate Corp. (The)

      6,508,029  
  71,443      

Ally Financial, Inc.

      1,416,715  
  252,500      

American International Group, Inc.

      7,872,950  
  7,341      

American Tower Corp. REIT

      1,897,942  
  49,331      

Ameriprise Financial, Inc.

      7,401,623  
  567,730      

Annaly Capital Management, Inc. REIT

      3,724,309  
  486,500      

Banco Santander SA, ADR* (a)

      1,172,465  
  293,316      

Bank of America Corp.

      6,966,255  
  191,072      

Bank of New York Mellon Corp. (The)

      7,384,933  
  16,000      

Berkshire Hathaway, Inc. Class B*

      2,856,160  
  2,100      

BlackRock, Inc.

      1,142,589  
  25,823      

Boston Properties, Inc. REIT

      2,333,883  
  21,800      

Charles Schwab Corp. (The)

      735,532  
  258,560      

Citigroup, Inc.

      13,212,416  
  90,600      

Citizens Financial Group, Inc.

      2,286,744  
  76,480      

Comerica, Inc.

      2,913,888  
  95,097      

Equitable Holdings, Inc.

      1,834,421  
  94,900      

Equity Residential REIT

      5,582,018  
  39,530      

Essent Group, Ltd.

      1,433,753  
  38,432      

Franklin Resources, Inc.

      805,919  
  254,824      

Host Hotels & Resorts, Inc. REIT

      2,749,551  
  49,310      

JPMorgan Chase & Co.

      4,638,099  
  35,360      

KKR & Co., Inc.

      1,091,917  
  4,031      

M&T Bank Corp.

      419,103  

 

 

See accompanying Notes to the Schedule of Investments.

3

Mercer US Large Cap Equity Fund

Schedule of Investments (Continued)

(showing percentage of net assets)

June 30, 2020 (Unaudited)

 

Shares          Description    Value ($)  
          Financial — continued  
  76,808      

Mastercard, Inc. Class A

      22,712,125  
  153,262      

MetLife, Inc.

      5,597,128  
  64,667      

Morgan Stanley

      3,123,416  
  8,020      

PNC Financial Services Group, Inc. (The)

      843,784  
  21,700      

Popular, Inc.

      806,589  
  45,349      

Regency Centers Corp. REIT

      2,081,066  
  171,747      

Regions Financial Corp.

      1,909,827  
  4,940      

Simon Property Group, Inc. REIT

      337,797  
  172,830      

SLM Corp.

      1,214,995  
  27,299      

State Street Corp.

      1,734,851  
  157,957      

Synchrony Financial

      3,500,327  
  174,700      

Truist Financial Corp.

      6,559,985  
  380,970      

Two Harbors Investment Corp. REIT

      1,920,089  
  106,083      

Visa, Inc. Class A

      20,492,053  
  70,684      

Vornado Realty Trust REIT

      2,700,836  
  42,369      

Voya Financial, Inc.

      1,976,514  
  259,491      

Wells Fargo & Co.

      6,642,970  
  271,673      

Western Union Co. (The)

      5,873,570  
      

 

 

  
         178,409,136  
      

 

 

  
          Industrial — 4.7%  
  80,098      

Caterpillar, Inc.

      10,132,397  
  38,600      

Chart Industries, Inc.*

      1,871,714  
  78,073      

CORTEVA, Inc.

      2,091,576  
  45,000      

Crown Holdings, Inc.*

      2,930,850  
  49,950      

CSX Corp.

      3,483,513  
  6,000      

FedEx Corp.

      841,320  
  213,653      

Howmet Aerospace, Inc.

      3,386,400  
  128,534      

Johnson Controls International Plc

      4,388,151  
  17,086      

Masco Corp.

      857,888  
  19,200      

Northrop Grumman Corp.

      5,902,848  
  96,189      

Raytheon Technologies Corp.

      5,927,166  
  31,815      

Textron, Inc.

      1,047,031  
  15,212      

Union Pacific Corp.

      2,571,893  
  32,902      

Waters Corp.*

      5,935,521  
      

 

 

  
         51,368,268  
      

 

 

  
          Technology — 20.8%  
  54,570      

Accenture Plc Class A

      11,717,270  
  64,276      

Adobe, Inc.*

      27,979,986  
  44,494      

Apple, Inc.

      16,231,411  
  21,263      

Atlassian Corp. Plc Class A*

      3,833,081  
  46,609      

Autodesk, Inc.*

      11,148,407  
  26,900      

Broadcom, Inc.

      8,489,909  
  137,955      

Cognizant Technology Solutions Corp. Class A

      7,838,603  
  12,081      

Coupa Software, Inc.* (a)

      3,346,920  
  26,120      

Crowdstrike Holdings, Inc. Class A*

      2,619,575  
  111,000      

Intel Corp.

      6,641,130  
  8,900      

IPG Photonics Corp.*

      1,427,471  

 

 

See accompanying Notes to the Schedule of Investments.

4

Mercer US Large Cap Equity Fund

Schedule of Investments (Continued)

(showing percentage of net assets)

June 30, 2020 (Unaudited)

 

Shares          Description    Value ($)  
          Technology — continued  
  3,178      

Lam Research Corp.

      1,027,956  
  52,400      

Marvell Technology Group, Ltd.

      1,837,144  
  40,700      

Micron Technology, Inc.*

      2,096,864  
  217,973      

Microsoft Corp.

      44,359,685  
  19,312      

MSCI, Inc. Class A

      6,446,732  
  26,855      

NetApp, Inc.

      1,191,556  
  21,529      

NVIDIA Corp.

      8,179,082  
  174,993      

Oracle Corp.

      9,671,863  
  42,738      

QUALCOMM, Inc.

      3,898,133  
  12,475      

RingCentral, Inc. Class A*

      3,555,500  
  98,134      

salesforce.com, Inc.*

      18,383,442  
  55,812      

Seagate Technology Plc

      2,701,859  
  34,046      

ServiceNow, Inc.*

      13,790,673  
  22,042      

Splunk, Inc.*

      4,379,745  
  30,947      

Teradyne, Inc.

      2,615,331  
  15,625      

Twilio, Inc. Class A* (a)

      3,428,438  
      

 

 

  
         228,837,766  
      

 

 

  
          Utilities — 1.0%  
  109,600      

Edison International

      5,952,376  
  53,900      

FirstEnergy Corp.

      2,090,242  
  78,700      

PPL Corp.

      2,033,608  
  34,300      

UGI Corp.

      1,090,740  
      

 

 

  
         11,166,966  
      

 

 

  
   

TOTAL COMMON STOCKS (COST $1,008,697,514)

      1,055,497,361  
      

 

 

  
Par Value ($)          Description    Value ($)  
   

SHORT-TERM INVESTMENTS — 0.2%

 

          Mutual Fund - Securities Lending Collateral — 0.1%  
  811,755      

State Street Institutional U.S. Government Money Market Fund, Premier Class, 0.12%(b) (c)

      811,755  
      

 

 

  
          U.S. Government and Agency Obligations — 0.1%  
  750,000      

United States Treasury Bill, 0.04%, due 07/02/20(d) (e)

      749,998  
      

 

 

  
   

TOTAL SHORT-TERM INVESTMENTS (COST $1,561,742)

      1,561,753  
      

 

 

  
   

TOTAL INVESTMENTS — 95.9%

(Cost $1,010,259,256)

      1,057,059,114  
   

Other Assets and Liabilities (net) — 4.1%

      45,160,363  
      

 

 

  
          NET ASSETS — 100.0%    $1,102,219,477  
      

 

 

  

 

 

See accompanying Notes to the Schedule of Investments.

5

Mercer US Large Cap Equity Fund

Schedule of Investments (Continued)

June 30, 2020 (Unaudited)

 

   

Notes to Schedule of Investments:

    ADR — American Depository Receipt   
    REIT — Real Estate Investment Trust   
  *   Non-income producing security.   
  (a)   All or a portion of this security is out on loan.   
  (b)   The rate disclosed is the 7-day net yield as of June 30, 2020.   
  (c)   Represents an investment of securities lending cash collateral.   
  (d)   Interest rate presented is yield to maturity.   
  (e)   All or a portion of this security is pledged for open futures collateral.   

 

 

See accompanying Notes to the Schedule of Investments.

6

Mercer US Large Cap Equity Fund

Schedule of Investments (Continued)

June 30, 2020 (Unaudited)

 

Futures Contracts

 

Number of
Contracts

          

Description

        

Expiration Date

     

Notional
Value

     

Market Value/
Unrealized
Appreciation
(Depreciation)

  
  Buys                    
  233        

S&P 500 E-mini Index

         Sep 2020      $ 36,000,830      $ 1,057,471  
  17        

S&P Mid 400 E-mini Index

         Sep 2020        3,024,470        43,714  
                 

 

 

  
   $ 1,101,185  
                 

 

 

  

 

 

See accompanying Notes to the Schedule of Investments.

7

Mercer US Large Cap Equity Fund

Schedule of Investments (Continued)

June 30, 2020 (Unaudited)

 

Asset Class Summary (Unaudited)    % of Net Assets

Common Stocks

        95.7

Futures Contracts

        0.1

Short-Term Investments

        0.2

Other Assets and Liabilities (net)

        4.0
    

 

 

  
       100.0 %
    

 

 

  

 

 

See accompanying Notes to the Schedule of Investments.

8