Mercer US Small/Mid Cap Equity Fund
Schedule of Investments
(showing percentage of net assets)
June 30, 2024 (Unaudited)
Shares
|
|
Description
|
Value ($)
|
|
|
COMMON STOCKS — 96.5%
|
|
|
|
Basic Materials — 1.9%
|
|
90,218
|
|
ATI, Inc. *
|
5,002,588
|
42,800
|
|
Chemours Co.
|
965,996
|
15,500
|
|
Eastman Chemical Co.
|
1,518,535
|
210,497
|
|
Element Solutions, Inc.
|
5,708,679
|
20,900
|
|
Ingevity Corp. *
|
913,539
|
39,900
|
|
Koppers Holdings, Inc.
|
1,475,901
|
48,900
|
|
Mosaic Co.
|
1,413,210
|
23,338
|
|
Quaker Chemical Corp.
|
3,960,459
|
8,700
|
|
Reliance, Inc.
|
2,484,720
|
42,083
|
|
RPM International, Inc.
|
4,531,497
|
28,500
|
|
Steel Dynamics, Inc.
|
3,690,750
|
|
|
|
31,665,874
|
|
|
Communications — 2.2%
|
|
47,900
|
|
AMC Networks, Inc. Class A*
|
462,714
|
48,000
|
|
Cargurus, Inc. *
|
1,257,600
|
62,836
|
|
Ciena Corp. *
|
3,027,438
|
45,320
|
|
ePlus, Inc. *
|
3,339,178
|
19,500
|
|
Expedia Group, Inc. *
|
2,456,805
|
22,058
|
|
F5, Inc. *
|
3,799,049
|
59,500
|
|
Fox Corp. Class A
|
2,045,015
|
73,100
|
|
Gen Digital, Inc.
|
1,826,038
|
20,100
|
|
Nexstar Media Group, Inc.
|
3,336,801
|
9,700
|
|
Preformed Line Products Co.
|
1,208,038
|
48,030
|
|
Roku, Inc. *
|
2,878,438
|
92,100
|
|
TEGNA, Inc.
|
1,283,874
|
119,719
|
|
TripAdvisor, Inc. *
|
2,132,195
|
21,553
|
|
Wix.com Ltd. *
|
3,428,436
|
114,030
|
|
Yelp, Inc. *
|
4,213,409
|
|
|
|
36,695,028
|
|
|
Consumer, Cyclical — 15.4%
|
|
31,033
|
|
Advance Auto Parts, Inc.
|
1,965,320
|
51,700
|
|
Allison Transmission Holdings, Inc.
|
3,924,030
|
25,100
|
|
Autoliv, Inc.
|
2,685,449
|
7,900
|
|
AutoNation, Inc. *
|
1,259,102
|
39,041
|
|
Birkenstock Holding PLC *
|
2,124,221
|
270,208
|
|
BJ's Wholesale Club Holdings, Inc. *
|
23,735,071
|
89,400
|
|
Bloomin' Brands, Inc.
|
1,719,162
|
61,100
|
|
BorgWarner, Inc.
|
1,969,864
|
20,800
|
|
Brunswick Corp.
|
1,513,616
|
19,211
|
|
Burlington Stores, Inc. *
|
4,610,640
|
32,500
|
|
Capri Holdings Ltd. *
|
1,075,100
|
38,466
|
|
Carter's, Inc.
|
2,383,738
|
12,854
|
|
Casey's General Stores, Inc.
|
4,904,572
|
17,165
|
|
Cavco Industries, Inc. *
|
5,942,008
|
52,287
|
|
Churchill Downs, Inc.
|
7,299,265
|
32,076
|
|
Columbia Sportswear Co.
|
2,536,570
|
See accompanying Notes to the Schedule of Investments
1
Mercer US Small/Mid Cap Equity Fund
Schedule of Investments (Continued)
(showing percentage of net assets)
June 30, 2024 (Unaudited)
Shares
|
|
Description
|
Value ($)
|
|
|
Consumer, Cyclical — continued
|
|
12,100
|
|
Crocs, Inc. *
|
1,765,874
|
9,200
|
|
Dick's Sporting Goods, Inc.
|
1,976,620
|
37,492
|
|
Dorman Products, Inc. *
|
3,429,768
|
38,029
|
|
Five Below, Inc. *
|
4,144,020
|
32,913
|
|
Freshpet, Inc. *
|
4,258,613
|
101,984
|
|
GCI Liberty, Inc. *(a)(b)
|
—
|
23,500
|
|
Genesco, Inc. *
|
607,710
|
123,041
|
|
Gentex Corp.
|
4,147,712
|
42,496
|
|
Gentherm, Inc. *
|
2,095,903
|
33,600
|
|
GMS, Inc. *
|
2,708,496
|
102,000
|
|
Goodyear Tire & Rubber Co. *
|
1,157,700
|
20,319
|
|
Group 1 Automotive, Inc.
|
6,040,432
|
56,889
|
|
Guess?, Inc.
|
1,160,536
|
54,700
|
|
Harley-Davidson, Inc.
|
1,834,638
|
47,600
|
|
Haverty Furniture Cos., Inc.
|
1,203,804
|
14,500
|
|
Jack in the Box, Inc. (c)
|
738,630
|
26,900
|
|
Kohl's Corp.
|
618,431
|
61,300
|
|
La-Z-Boy, Inc.
|
2,285,264
|
22,433
|
|
LGI Homes, Inc. *
|
2,007,529
|
53,240
|
|
Light & Wonder, Inc. *
|
5,583,811
|
19,012
|
|
Lithia Motors, Inc.
|
4,799,579
|
207,670
|
|
LKQ Corp.
|
8,636,995
|
44,170
|
|
M/I Homes, Inc. *
|
5,394,924
|
94,700
|
|
Macy's, Inc.
|
1,818,240
|
86,200
|
|
Mattel, Inc. *
|
1,401,612
|
96,500
|
|
MillerKnoll, Inc.
|
2,556,285
|
40,100
|
|
Movado Group, Inc.
|
996,886
|
13,027
|
|
MSC Industrial Direct Co., Inc. Class A
|
1,033,171
|
18,475
|
|
Murphy USA, Inc.
|
8,673,274
|
39,500
|
|
ODP Corp. *
|
1,551,165
|
90,900
|
|
On Holding AG Class A*(c)
|
3,526,920
|
196,765
|
|
OPENLANE, Inc. *
|
3,264,331
|
58,491
|
|
Papa John's International, Inc. (c)
|
2,747,907
|
13,580
|
|
Phinia, Inc.
|
534,509
|
80,181
|
|
Polaris, Inc.
|
6,278,974
|
43,500
|
|
PulteGroup, Inc.
|
4,789,350
|
25,100
|
|
PVH Corp.
|
2,657,337
|
78,963
|
|
Red Rock Resorts, Inc. Class A
|
4,337,438
|
81,900
|
|
Sally Beauty Holdings, Inc. *
|
878,787
|
36,400
|
|
ScanSource, Inc. *
|
1,612,884
|
50,447
|
|
SiteOne Landscape Supply, Inc. *
|
6,124,770
|
64,988
|
|
Skechers USA, Inc. Class A*
|
4,491,971
|
140,770
|
|
Tapestry, Inc.
|
6,023,548
|
108,341
|
|
Texas Roadhouse, Inc.
|
18,603,233
|
32,400
|
|
Toll Brothers, Inc.
|
3,731,832
|
131,907
|
|
Tri Pointe Homes, Inc. *
|
4,913,536
|
46,084
|
|
UniFirst Corp.
|
7,904,789
|
33,800
|
|
United Airlines Holdings, Inc. *
|
1,644,708
|
11,707
|
|
Vail Resorts, Inc.
|
2,108,782
|
2
See accompanying Notes to the Schedule of Investments
Mercer US Small/Mid Cap Equity Fund
Schedule of Investments (Continued)
(showing percentage of net assets)
June 30, 2024 (Unaudited)
Shares
|
|
Description
|
Value ($)
|
|
|
Consumer, Cyclical — continued
|
|
71,800
|
|
Wabash National Corp.
|
1,568,112
|
25,603
|
|
WESCO International, Inc.
|
4,058,588
|
17,700
|
|
Whirlpool Corp.
|
1,808,940
|
4,900
|
|
Williams-Sonoma, Inc.
|
1,383,613
|
11,250
|
|
Wingstop, Inc.
|
4,754,925
|
19,100
|
|
Winnebago Industries, Inc.
|
1,035,220
|
|
|
|
255,060,354
|
|
|
Consumer, Non-cyclical — 23.1%
|
|
59,400
|
|
ABM Industries, Inc.
|
3,003,858
|
90,182
|
|
Acadia Healthcare Co., Inc. *
|
6,090,892
|
157,500
|
|
ACCO Brands Corp.
|
740,250
|
119,000
|
|
Albertsons Cos., Inc. Class A
|
2,350,250
|
551,615
|
|
Alight, Inc. Class A*
|
4,070,919
|
122,720
|
|
API Group Corp. *
|
4,617,954
|
99,267
|
|
Ascendis Pharma AS ADR*
|
13,538,033
|
199,070
|
|
Avantor, Inc. *
|
4,220,284
|
32,647
|
|
Avery Dennison Corp.
|
7,138,267
|
65,038
|
|
Azenta, Inc. *
|
3,422,300
|
133,315
|
|
Bausch & Lomb Corp. *(c)
|
1,935,734
|
65,000
|
|
Baxter International, Inc.
|
2,174,250
|
20,698
|
|
Bio-Rad Laboratories, Inc. Class A*
|
5,652,831
|
31,656
|
|
Booz Allen Hamilton Holding Corp.
|
4,871,858
|
117,649
|
|
Bright Horizons Family Solutions, Inc. *
|
12,950,802
|
27,900
|
|
Bunge Global SA
|
2,978,883
|
49,354
|
|
Cimpress PLC *
|
4,323,904
|
453,441
|
|
Clarivate PLC *(c)
|
2,580,079
|
52,900
|
|
Conagra Brands, Inc.
|
1,503,418
|
417,694
|
|
CoreCivic, Inc. *
|
5,421,668
|
5,000
|
|
Corpay, Inc. *
|
1,332,050
|
25,390
|
|
Cytokinetics, Inc. *
|
1,375,630
|
13,600
|
|
DaVita, Inc. *
|
1,884,552
|
60,000
|
|
Deluxe Corp.
|
1,347,600
|
394,128
|
|
Dun & Bradstreet Holdings, Inc.
|
3,649,625
|
185,576
|
|
Embecta Corp.
|
2,319,700
|
99,445
|
|
Envista Holdings Corp. *
|
1,653,770
|
21,075
|
|
Euronet Worldwide, Inc. *
|
2,181,263
|
92,464
|
|
EVERTEC, Inc.
|
3,074,428
|
124,400
|
|
Exelixis, Inc. *
|
2,795,268
|
207,720
|
|
Flywire Corp. *
|
3,404,531
|
14,020
|
|
FTI Consulting, Inc. *
|
3,021,731
|
20,626
|
|
Glaukos Corp. *
|
2,441,087
|
73,662
|
|
Globus Medical, Inc. Class A*
|
5,045,110
|
20,398
|
|
Grand Canyon Education, Inc. *
|
2,853,884
|
69,979
|
|
GXO Logistics, Inc. *
|
3,533,940
|
44,200
|
|
H&R Block, Inc.
|
2,396,966
|
80,409
|
|
Halozyme Therapeutics, Inc. *
|
4,210,215
|
53,838
|
|
HealthEquity, Inc. *
|
4,640,836
|
12,900
|
|
Henry Schein, Inc. *
|
826,890
|
See accompanying Notes to the Schedule of Investments
3
Mercer US Small/Mid Cap Equity Fund
Schedule of Investments (Continued)
(showing percentage of net assets)
June 30, 2024 (Unaudited)
Shares
|
|
Description
|
Value ($)
|
|
|
Consumer, Non-cyclical — continued
|
|
40,700
|
|
Herbalife Ltd. *
|
422,873
|
68,455
|
|
Hologic, Inc. *
|
5,082,784
|
43,500
|
|
Incyte Corp. *
|
2,636,970
|
52,207
|
|
Ingles Markets, Inc. Class A
|
3,581,922
|
29,900
|
|
Ingredion, Inc.
|
3,429,530
|
78,440
|
|
Insmed, Inc. *
|
5,255,480
|
23,490
|
|
Insulet Corp. *
|
4,740,282
|
80,206
|
|
Integer Holdings Corp. *
|
9,287,053
|
101,838
|
|
Intra-Cellular Therapies, Inc. *
|
6,974,885
|
211,092
|
|
Ironwood Pharmaceuticals, Inc. *
|
1,376,320
|
69,691
|
|
Jazz Pharmaceuticals PLC *
|
7,438,120
|
22,068
|
|
Lancaster Colony Corp.
|
4,170,190
|
60,490
|
|
Lantheus Holdings, Inc. *
|
4,856,742
|
260,132
|
|
Laureate Education, Inc.
|
3,886,372
|
110,950
|
|
Legend Biotech Corp. ADR*
|
4,913,975
|
44,511
|
|
LivaNova PLC *
|
2,440,093
|
33,000
|
|
ManpowerGroup, Inc.
|
2,303,400
|
9,238
|
|
MarketAxess Holdings, Inc.
|
1,852,496
|
318,300
|
|
Marqeta, Inc. Class A*
|
1,744,284
|
45,270
|
|
Masimo Corp. *
|
5,701,304
|
5,560
|
|
Medpace Holdings, Inc. *
|
2,289,886
|
56,110
|
|
Merit Medical Systems, Inc. *
|
4,822,654
|
162,663
|
|
Molson Coors Beverage Co. Class B
|
8,268,160
|
45,737
|
|
Natera, Inc. *
|
4,952,860
|
96,246
|
|
Neurocrine Biosciences, Inc. *
|
13,250,187
|
190,687
|
|
Nomad Foods Ltd.
|
3,142,522
|
224,710
|
|
Option Care Health, Inc. *
|
6,224,467
|
113,900
|
|
Organon & Co.
|
2,357,730
|
106,843
|
|
Patterson Cos., Inc.
|
2,577,053
|
44,166
|
|
Paylocity Holding Corp. *
|
5,823,287
|
13,990
|
|
Penumbra, Inc. *
|
2,517,780
|
91,200
|
|
Perdoceo Education Corp.
|
1,953,504
|
132,788
|
|
Performance Food Group Co. *
|
8,778,615
|
22,800
|
|
Prestige Consumer Healthcare, Inc. *
|
1,569,780
|
68,964
|
|
PROCEPT BioRobotics Corp. *(c)
|
4,213,011
|
41,700
|
|
PROG Holdings, Inc.
|
1,446,156
|
71,200
|
|
Quanex Building Products Corp.
|
1,968,680
|
18,250
|
|
Repligen Corp. *
|
2,300,595
|
164,971
|
|
Rocket Pharmaceuticals, Inc. *
|
3,551,826
|
287,693
|
|
Roivant Sciences Ltd. *(c)
|
3,040,915
|
53,617
|
|
Select Medical Holdings Corp.
|
1,879,812
|
36,390
|
|
Shift4 Payments, Inc. Class A*(c)
|
2,669,207
|
90,965
|
|
Simply Good Foods Co. *
|
3,286,565
|
41,700
|
|
SpartanNash Co.
|
782,292
|
25,200
|
|
Sprouts Farmers Market, Inc. *
|
2,108,232
|
110,448
|
|
Tandem Diabetes Care, Inc. *
|
4,449,950
|
32,210
|
|
United Therapeutics Corp. *
|
10,260,495
|
14,100
|
|
Universal Health Services, Inc. Class B
|
2,607,513
|
61,200
|
|
Upbound Group, Inc.
|
1,878,840
|
4
See accompanying Notes to the Schedule of Investments
Mercer US Small/Mid Cap Equity Fund
Schedule of Investments (Continued)
(showing percentage of net assets)
June 30, 2024 (Unaudited)
Shares
|
|
Description
|
Value ($)
|
|
|
Consumer, Non-cyclical — continued
|
|
95,419
|
|
Valvoline, Inc. *
|
4,122,101
|
59,990
|
|
Vaxcyte, Inc. *
|
4,529,845
|
63,057
|
|
Vericel Corp. *
|
2,893,055
|
69,586
|
|
Viad Corp. *
|
2,365,924
|
198,700
|
|
Viatris, Inc.
|
2,112,181
|
22,730
|
|
Viking Therapeutics, Inc. *
|
1,204,917
|
61,495
|
|
WEX, Inc. *
|
10,893,224
|
236,169
|
|
WillScot Mobile Mini Holdings Corp. *
|
8,889,401
|
|
|
|
381,653,807
|
|
|
Energy — 5.3%
|
|
37,200
|
|
APA Corp.
|
1,095,168
|
53,211
|
|
California Resources Corp.
|
2,831,889
|
158,027
|
|
ChampionX Corp.
|
5,248,077
|
29,688
|
|
Chord Energy Corp.
|
4,978,084
|
118,300
|
|
CNX Resources Corp. *
|
2,874,690
|
141,940
|
|
Delek U.S. Holdings, Inc.
|
3,514,434
|
63,200
|
|
Helmerich & Payne, Inc.
|
2,284,048
|
124,288
|
|
HF Sinclair Corp.
|
6,629,522
|
57,700
|
|
Liberty Energy, Inc.
|
1,205,353
|
282,182
|
|
Magnolia Oil & Gas Corp. Class A
|
7,150,492
|
206,700
|
|
Marathon Oil Corp.
|
5,926,089
|
109,904
|
|
Matador Resources Co.
|
6,550,278
|
188,149
|
|
NOV, Inc.
|
3,576,712
|
212,453
|
|
Ovintiv, Inc.
|
9,957,672
|
64,200
|
|
PBF Energy, Inc. Class A
|
2,954,484
|
886,717
|
|
Permian Resources Corp.
|
14,320,480
|
78,986
|
|
SM Energy Co.
|
3,414,565
|
10,298
|
|
Vitesse Energy, Inc.
|
244,063
|
37,135
|
|
Warrior Met Coal, Inc.
|
2,330,964
|
|
|
|
87,087,064
|
|
|
Financial — 16.6%
|
|
50,414
|
|
Agree Realty Corp. REIT
|
3,122,643
|
40,400
|
|
Ally Financial, Inc.
|
1,602,668
|
81,800
|
|
American Assets Trust, Inc. REIT
|
1,830,684
|
44,750
|
|
Annaly Capital Management, Inc. REIT
|
852,935
|
82,800
|
|
Apple Hospitality REIT, Inc. REIT
|
1,203,912
|
104,300
|
|
ARES Capital Corp.
|
2,173,612
|
97,500
|
|
Associated Banc-Corp.
|
2,062,125
|
93,651
|
|
Atlantic Union Bankshares Corp.
|
3,076,435
|
110,352
|
|
Axis Capital Holdings Ltd.
|
7,796,369
|
58,651
|
|
Axos Financial, Inc. *
|
3,351,905
|
35,400
|
|
Bank of NT Butterfield & Son Ltd.
|
1,243,248
|
145,100
|
|
Blue Owl Capital Corp. (c)
|
2,228,736
|
369,263
|
|
Blue Owl Capital, Inc.
|
6,554,418
|
177,700
|
|
Brandywine Realty Trust REIT
|
796,096
|
80,900
|
|
Brixmor Property Group, Inc. REIT
|
1,867,981
|
6,897
|
|
C&F Financial Corp.
|
332,435
|
See accompanying Notes to the Schedule of Investments
5
Mercer US Small/Mid Cap Equity Fund
Schedule of Investments (Continued)
(showing percentage of net assets)
June 30, 2024 (Unaudited)
Shares
|
|
Description
|
Value ($)
|
|
|
Financial — continued
|
|
310,878
|
|
Cannae Holdings, Inc. (c)
|
5,639,327
|
31,000
|
|
Cathay General Bancorp
|
1,169,320
|
33,100
|
|
Chimera Investment Corp. REIT
|
423,680
|
84,200
|
|
Citizens Financial Group, Inc.
|
3,033,726
|
154,000
|
|
City Office REIT, Inc. REIT
|
766,920
|
68,994
|
|
CNA Financial Corp.
|
3,178,554
|
157,800
|
|
CNO Financial Group, Inc.
|
4,374,216
|
36,200
|
|
Comerica, Inc.
|
1,847,648
|
24,425
|
|
East West Bancorp, Inc.
|
1,788,643
|
200,133
|
|
Easterly Government Properties, Inc. REIT
|
2,475,645
|
20,197
|
|
EastGroup Properties, Inc. REIT
|
3,435,510
|
37,300
|
|
Employers Holdings, Inc.
|
1,590,099
|
71,700
|
|
EPR Properties REIT
|
3,009,966
|
29,500
|
|
Equitable Holdings, Inc.
|
1,205,370
|
31,600
|
|
Essent Group Ltd.
|
1,775,604
|
39,776
|
|
Federated Hermes, Inc.
|
1,307,835
|
29,900
|
|
Fidelity National Financial, Inc.
|
1,477,658
|
34,900
|
|
Fifth Third Bancorp
|
1,273,501
|
35,500
|
|
Financial Institutions, Inc.
|
685,860
|
90,100
|
|
First BanCorp
|
1,647,929
|
78,400
|
|
First Busey Corp.
|
1,898,064
|
89,100
|
|
First Commonwealth Financial Corp.
|
1,230,471
|
281,700
|
|
First Horizon Corp.
|
4,442,409
|
99,400
|
|
FNB Corp.
|
1,359,792
|
209,166
|
|
Franklin Street Properties Corp. REIT
|
320,024
|
144,188
|
|
FS KKR Capital Corp. (c)
|
2,844,829
|
29,510
|
|
FTAI Aviation Ltd.
|
3,046,317
|
827,755
|
|
Genworth Financial, Inc. Class A*
|
4,999,640
|
62,402
|
|
Glacier Bancorp, Inc.
|
2,328,843
|
43,555
|
|
Hamilton Lane, Inc. Class A
|
5,382,527
|
28,700
|
|
Hancock Whitney Corp.
|
1,372,721
|
79,956
|
|
Hanmi Financial Corp.
|
1,336,864
|
83,634
|
|
Healthpeak Properties, Inc. REIT
|
1,639,226
|
32,800
|
|
Heritage Insurance Holdings, Inc. *
|
232,224
|
75,500
|
|
Highwoods Properties, Inc. REIT
|
1,983,385
|
113,600
|
|
Hope Bancorp, Inc.
|
1,220,064
|
86,500
|
|
Horizon Bancorp, Inc.
|
1,070,005
|
197,400
|
|
Host Hotels & Resorts, Inc. REIT
|
3,549,252
|
85,700
|
|
Independent Bank Corp.
|
2,313,900
|
64,000
|
|
Industrial Logistics Properties Trust REIT
|
235,520
|
84,090
|
|
Jefferies Financial Group, Inc.
|
4,184,318
|
257,104
|
|
KeyCorp
|
3,653,448
|
44,400
|
|
Kilroy Realty Corp. REIT
|
1,383,948
|
20,008
|
|
Kinsale Capital Group, Inc.
|
7,708,682
|
71,600
|
|
Kite Realty Group Trust REIT
|
1,602,408
|
37,700
|
|
Lincoln National Corp.
|
1,172,470
|
24,433
|
|
LPL Financial Holdings, Inc.
|
6,824,137
|
11,891
|
|
McGrath RentCorp
|
1,266,986
|
176,200
|
|
MGIC Investment Corp.
|
3,797,110
|
6
See accompanying Notes to the Schedule of Investments
Mercer US Small/Mid Cap Equity Fund
Schedule of Investments (Continued)
(showing percentage of net assets)
June 30, 2024 (Unaudited)
Shares
|
|
Description
|
Value ($)
|
|
|
Financial — continued
|
|
58,519
|
|
National Storage Affiliates Trust REIT
|
2,412,153
|
139,500
|
|
Navient Corp.
|
2,031,120
|
199,800
|
|
New Mountain Finance Corp.
|
2,445,552
|
131,848
|
|
Newmark Group, Inc. Class A
|
1,348,805
|
81,303
|
|
NMI Holdings, Inc. Class A*
|
2,767,554
|
57,200
|
|
Oaktree Specialty Lending Corp. (c)
|
1,075,932
|
81,808
|
|
OceanFirst Financial Corp.
|
1,299,929
|
15,377
|
|
Office Properties Income Trust REIT
|
31,369
|
49,911
|
|
OFG Bancorp
|
1,869,167
|
70,700
|
|
Old Republic International Corp.
|
2,184,630
|
35,700
|
|
Omega Healthcare Investors, Inc. REIT
|
1,222,725
|
26,400
|
|
OneMain Holdings, Inc.
|
1,280,136
|
354,616
|
|
P10, Inc. Class A(c)
|
3,007,144
|
195,700
|
|
Piedmont Office Realty Trust, Inc. REIT Class A
|
1,418,825
|
62,793
|
|
Pinnacle Financial Partners, Inc.
|
5,025,952
|
29,809
|
|
Piper Sandler Cos.
|
6,861,138
|
25,500
|
|
Popular, Inc.
|
2,254,965
|
13,686
|
|
Preferred Bank
|
1,033,156
|
177,142
|
|
Radian Group, Inc.
|
5,509,116
|
72,100
|
|
Regions Financial Corp.
|
1,444,884
|
30,824
|
|
Reinsurance Group of America, Inc.
|
6,327,243
|
97,100
|
|
Sabra Health Care REIT, Inc. REIT
|
1,495,340
|
33,500
|
|
Sandy Spring Bancorp, Inc.
|
816,060
|
21,804
|
|
Selective Insurance Group, Inc.
|
2,045,869
|
153,100
|
|
Service Properties Trust REIT
|
786,934
|
100,711
|
|
StepStone Group, Inc. Class A
|
4,621,628
|
47,321
|
|
Stifel Financial Corp.
|
3,982,062
|
73,669
|
|
Sun Communities, Inc. REIT
|
8,865,328
|
56,200
|
|
Synchrony Financial
|
2,652,078
|
31,600
|
|
Tanger, Inc. REIT
|
856,676
|
35,327
|
|
Tradeweb Markets, Inc. Class A
|
3,744,662
|
172,600
|
|
Uniti Group, Inc. REIT
|
503,992
|
20,100
|
|
Universal Insurance Holdings, Inc.
|
377,076
|
77,500
|
|
Unum Group
|
3,961,025
|
127,700
|
|
Valley National Bancorp
|
891,346
|
58,500
|
|
Veritex Holdings, Inc.
|
1,233,765
|
48,700
|
|
Victory Capital Holdings, Inc. Class A
|
2,324,451
|
83,089
|
|
Voya Financial, Inc.
|
5,911,782
|
129,900
|
|
Western Union Co.
|
1,587,378
|
5,973
|
|
White Mountains Insurance Group Ltd.
|
10,855,629
|
42,141
|
|
Wintrust Financial Corp.
|
4,153,417
|
54,300
|
|
Zions Bancorp NA
|
2,354,991
|
|
|
|
273,475,781
|
|
|
Government — 0.1%
|
|
58,816
|
|
Banco Latinoamericano de Comercio Exterior SA
|
1,745,070
|
|
|
Industrial — 19.3%
|
|
10,900
|
|
Acuity Brands, Inc.
|
2,631,696
|
See accompanying Notes to the Schedule of Investments
7
Mercer US Small/Mid Cap Equity Fund
Schedule of Investments (Continued)
(showing percentage of net assets)
June 30, 2024 (Unaudited)
Shares
|
|
Description
|
Value ($)
|
|
|
Industrial — continued
|
|
39,340
|
|
Advanced Energy Industries, Inc.
|
4,278,618
|
44,200
|
|
AGCO Corp.
|
4,326,296
|
371,766
|
|
Air Transport Services Group, Inc. *
|
5,156,394
|
42,100
|
|
Apogee Enterprises, Inc.
|
2,645,353
|
18,877
|
|
AptarGroup, Inc.
|
2,658,070
|
11,500
|
|
ArcBest Corp.
|
1,231,420
|
34,633
|
|
Argan, Inc.
|
2,533,750
|
38,855
|
|
Armstrong World Industries, Inc.
|
4,399,940
|
42,575
|
|
Arrow Electronics, Inc. *
|
5,141,357
|
111,864
|
|
Atkore, Inc.
|
15,093,810
|
47,644
|
|
Axon Enterprise, Inc. *
|
14,018,771
|
170,032
|
|
AZEK Co., Inc. *
|
7,163,448
|
78,600
|
|
Berry Global Group, Inc.
|
4,625,610
|
21,600
|
|
Boise Cascade Co.
|
2,575,152
|
11,438
|
|
Brady Corp. Class A
|
755,137
|
21,000
|
|
Builders FirstSource, Inc. *
|
2,906,610
|
48,337
|
|
BWX Technologies, Inc.
|
4,592,015
|
20,430
|
|
Chart Industries, Inc. *(c)
|
2,948,866
|
352,000
|
|
CNH Industrial NV
|
3,565,760
|
109,425
|
|
Cognex Corp.
|
5,116,713
|
45,394
|
|
Coherent Corp. *
|
3,289,249
|
85,657
|
|
Columbus McKinnon Corp.
|
2,958,593
|
46,567
|
|
Comfort Systems USA, Inc.
|
14,161,956
|
17,700
|
|
Covenant Logistics Group, Inc.
|
872,433
|
23,615
|
|
Eagle Materials, Inc.
|
5,135,318
|
37,925
|
|
Exponent, Inc.
|
3,607,426
|
63,365
|
|
Federal Signal Corp.
|
5,301,750
|
284,940
|
|
Flex Ltd. *
|
8,402,881
|
373,580
|
|
Gates Industrial Corp. PLC *
|
5,906,300
|
26,127
|
|
Generac Holdings, Inc. *
|
3,454,512
|
49,485
|
|
Gibraltar Industries, Inc. *
|
3,392,197
|
21,300
|
|
Greif, Inc. Class A
|
1,224,111
|
22,500
|
|
Griffon Corp.
|
1,436,850
|
16,890
|
|
HEICO Corp.
|
3,776,773
|
97,669
|
|
Hexcel Corp.
|
6,099,429
|
17,258
|
|
Hubbell, Inc.
|
6,307,454
|
8,300
|
|
Huntington Ingalls Industries, Inc.
|
2,044,539
|
50,377
|
|
IDEX Corp.
|
10,135,852
|
67,793
|
|
ITT, Inc.
|
8,757,500
|
36,000
|
|
Jabil, Inc.
|
3,916,440
|
56,827
|
|
Knife River Corp. *
|
3,985,846
|
34,638
|
|
Lincoln Electric Holdings, Inc.
|
6,534,112
|
26,456
|
|
Loar Holdings, Inc. *
|
1,413,015
|
81,965
|
|
MDU Resources Group, Inc.
|
2,057,322
|
3,527
|
|
Middleby Corp. *
|
432,445
|
14,700
|
|
Mohawk Industries, Inc. *
|
1,669,773
|
6,200
|
|
Moog, Inc. Class A
|
1,037,260
|
73,000
|
|
Mueller Industries, Inc.
|
4,156,620
|
22,438
|
|
Nordson Corp.
|
5,204,270
|
8
See accompanying Notes to the Schedule of Investments
Mercer US Small/Mid Cap Equity Fund
Schedule of Investments (Continued)
(showing percentage of net assets)
June 30, 2024 (Unaudited)
Shares
|
|
Description
|
Value ($)
|
|
|
Industrial — continued
|
|
64,000
|
|
O-I Glass, Inc. *
|
712,320
|
26,000
|
|
Oshkosh Corp.
|
2,813,200
|
20,500
|
|
Owens Corning
|
3,561,260
|
6,010
|
|
Plexus Corp. *
|
620,112
|
32,800
|
|
Primoris Services Corp.
|
1,636,392
|
32,539
|
|
RBC Bearings, Inc. *
|
8,778,371
|
23,660
|
|
Regal Rexnord Corp.
|
3,199,305
|
27,400
|
|
Ryder System, Inc.
|
3,394,312
|
40,300
|
|
Ryerson Holding Corp.
|
785,850
|
10,951
|
|
Saia, Inc. *
|
5,193,950
|
28,600
|
|
Sanmina Corp. *
|
1,894,750
|
103,812
|
|
Schneider National, Inc. Class B
|
2,508,098
|
12,830
|
|
Scorpio Tankers, Inc.
|
1,042,951
|
12,952
|
|
Simpson Manufacturing Co., Inc.
|
2,182,801
|
10,700
|
|
Snap-on, Inc.
|
2,796,873
|
144,993
|
|
Summit Materials, Inc. Class A*
|
5,308,194
|
81,152
|
|
TD SYNNEX Corp.
|