Investment Report

Asset Allocation As of 06/30/2021

1.19% 10.10%

27.42%

18.60%

8.82%

21.51%

12.37%

Investments Market Value Percentage

U.S. Equities $9,763,669,307 27.42%

Non-U.S. Equities $7,658,831,832 21.51%

Global Equity $4,403,352,534 12.37%

Real Estate $3,142,198,195 8.82%

Fixed Income $6,623,022,619 18.60%

Private Equity $3,597,099,715 10.10%

Cash $422,742,966 1.19%

Total $35,610,917,168 100% PERS of Mississippi Investment Returns

Table below details rates of return for investments over various periods. As of 06/30/2021

Annualized

Asset Class Quarter 1 Year 3 Years 5 Years 10 Years

U.S. Equities 7.87% 46.83% 18.52% 17.89% 14.39%

International Equities 5.79% 40.42% 11.22% 12.48% 6.73%

Global Equities 8.73% 39.03% 14.81% 15.58% 11.22%

Fixed Income 2.31% 2.87% 6.29% 4.38% 4.65%

Real Estate 5.44% 13.62% 7.22% 7.46% 9.37%

Private Equity 13.72% 58.87% 24.00% 21.72% 16.61%

Total Fund 6.71% 32.71% 13.59% 13.03% 10.07%

All returns shown are gross. Top Ten US and International Equity Holdings As of 06/30/2021

Equity Region Name Market Value

U.S. MICROSOFT CORP $414,089,342

APPLE INC $339,129,943

AMAZON.COM INC $309,893,053

FACEBOOK INC $207,535,581

ALPHABET INC-CL C $201,841,469

ALPHABET INC-CL A $128,394,202

BERKSHIRE HATHAWAY INC $108,627,533

UNITEDHEALTH GROUP INC $99,136,530

COMCAST CORP $91,720,376

TESLA INC $82,686,185

International TAIWAN SEMICONDUCTOR MANUFACTU $144,297,297

SAMSUNG ELECTRONICS CO LTD $126,335,479

ASML HOLDING NV $104,867,486

ALIBABA GROUP HOLDING LTD $66,693,503

ROCHE HOLDING AG $62,930,177

TENCENT HOLDINGS LTD $61,107,162

SK HYNIX INC $54,900,449

NESTLE SA $50,030,547

KAKAO CORP $46,288,141

VALE SA $42,892,198 PERS of Mississippi Investment Managers List As of 06/30/2021

U.S. Equities

Large Capitalization Eagle Capital Management

Northern Trust

Mid Capitalization Artisan Partners

Northern Trust

Wellington Management Company

Small Capitalization Dimensional Fund Advisors

Riverbridge Partners

Wellington Management Company

International Equities

Arrowstreet Capital

Baillie Gifford

Fisher Investments

Lazard Asset Management

Marathon Asset Management

Mondrian

Northern Trust

Principal

Global Equities

Acadian Asset Management

Epoch Investments

Harding-Loevner

Northern Trust Fixed Income

AllianceBernstein

Loomis Sayles

Manulife Asset Management

Northern Trust

PGIM Fixed Income

Pacific Investment Management Company

Wellington Management Company

Real Estate REITs Centersquare

Cohen & Steers

Core and Core Plus Commingled Funds JP Morgan

Principal Global Investors

UBS Trumbull

Value Added Funds AEW Partners

Angelo Gordon

Heitman Value Partners

Invesco

TA Realty

Westbrook

Timber Hancock Timber

Private Equity

Grosvenor Capital Management

Pathway Capital Management