Pacer Developed Markets International Cash Cows 100 ETF | ||||||||
Schedule of Investments | ||||||||
July 31, 2024 (Unaudited) | ||||||||
COMMON STOCKS - 98.5% | Shares | Value | ||||||
Australia - 3.8% | ||||||||
BHP Billiton Ltd. | 968,247 | $ | 26,783,712 | |||||
Fortescue Ltd. | 1,769,615 | 21,837,098 | ||||||
MMG Ltd. (a) | 10,242,400 | 3,185,653 | ||||||
Whitehaven Coal Ltd. | 280,268 | 1,414,930 | ||||||
53,221,393 | ||||||||
Britain – 2.5% | ||||||||
Associated British Foods PLC 354,380 | 354,380 | 11,307,286 | ||||||
Imperial Brands PLC | 635,560 | 17,517,363 | ||||||
WPP PLC | 751,330 | 7,249,811 | ||||||
36,074,460 | ||||||||
Canada - 8.2% | ||||||||
Canadian Natural Resources Ltd. | 807,394 | 28,666,537 | ||||||
Cenovus Energy, Inc. | 1,230,420 | 24,792,876 | ||||||
Imperial Oil Ltd. (b) | 251,930 | 18,028,111 | ||||||
Nutrien Ltd. | 298,470 | 15,307,761 | ||||||
Suncor Energy, Inc. | 744,806 | 29,732,655 | ||||||
116,527,940 | ||||||||
Finland - 1.4% | ||||||||
Fortum Oyj | 523,054 | 8,032,615 | ||||||
Nokia OYJ | 2,847,720 | 11,159,734 | ||||||
19,192,349 | ||||||||
France - 13.7% | ||||||||
Bouygues SA | 385,320 | 13,319,395 | ||||||
Carrefour SA | 1,174,276 | 17,537,888 | ||||||
Cie de Saint-Gobain SA | 298,657 | 25,676,745 | ||||||
Cie Generale des Etablissements Michelin SCA | 465,500 | 18,438,636 | ||||||
Eiffage SA | 143,402 | 14,293,641 | ||||||
Engie SA | 1,752,922 | 27,583,859 | ||||||
Publicis Groupe SA | 110,279 | 11,531,555 | ||||||
Rexel SA | 168,540 | 4,290,109 | ||||||
Teleperformance SE | 58,555 | 7,553,849 | ||||||
TOTAL SA | 404,909 | 27,379,561 | ||||||
Vinci SA | 237,386 | 27,129,829 | ||||||
194,735,067 | ||||||||
Germany - 7.8% | ||||||||
Brenntag SE | 96,464 | 6,871,494 | ||||||
Deutsche Post AG | 665,564 | 29,712,679 | ||||||
Deutsche Telekom AG | 1,163,680 | 30,439,551 | ||||||
Evonik Industries AG | 265,910 | 5,400,218 | ||||||
Fresenius SE & Co. KGaA (a) | 625,488 | 22,467,475 | ||||||
HeidelbergCement AG | 114,150 | 11,919,039 | ||||||
Zalando SE (a)(c) | 181,538 | 4,658,296 | ||||||
111,468,752 | ||||||||
Italy - 2.1% | ||||||||
Eni SpA | 1,878,874 | 30,090,452 | ||||||
Japan - 17.0% | ||||||||
Aisin Corp. | 296,616 | 10,197,072 | ||||||
ANA Holdings, Inc. | 751,443 | 14,428,930 | ||||||
Bridgestone Corp. | 301,800 | 12,460,419 | ||||||
Denso Corp. | 1,402,393 | 23,534,702 | ||||||
ENEOS Holdings, Inc. | 4,405,154 | 23,295,371 | ||||||
Inpex Corp. | 1,506,729 | 23,394,758 | ||||||
Isuzu Motors Ltd. | 406,250 | 5,606,768 | ||||||
Japan Airlines Co. Ltd. | 436,542 | 7,177,350 | ||||||
JFE Holdings, Inc. | 751,418 | 11,085,303 | ||||||
Kawasaki Kisen Kaisha Ltd. | 1,057,138 | 16,512,819 | ||||||
Koito Manufacturing Co. Ltd. | 168,204 | 2,521,292 | ||||||
Mazda Motor Corp. | 795,338 | 7,284,161 | ||||||
Mitsubishi Motors Corp. | 1,467,071 | 4,300,196 | ||||||
NIPPON EXPRESS HOLDINGS INC | 121,254 | 6,038,215 | ||||||
Nippon Yusen KK | 840,706 | 27,493,199 | ||||||
Niterra Co. Ltd. | 103,249 | 3,115,286 | ||||||
Obayashi Corp. | 490,038 | 6,494,913 | ||||||
Ono Pharmaceutical Co. Ltd. | 264,793 | 3,954,970 | ||||||
SCREEN Holdings Co. Ltd. | 50,995 | 4,389,577 | ||||||
Shionogi & Co. Ltd. | 107,581 | 4,737,571 | ||||||
Subaru Corp. | 722,805 | 14,409,780 | ||||||
Tokyo Gas Co. Ltd. | 573,708 | 12,645,665 | ||||||
Toyota Tsusho Corp. | 916,496 | 18,555,671 | ||||||
TDK Corp. | 155,200 | 10,914,402 | ||||||
USS Co. Ltd. | 176,730 | 1,599,719 | ||||||
Yakult Honsha Co. Ltd. | 132,950 | 2,738,785 | ||||||
278,886,894 | ||||||||
Luxembourg - 2.6% | ||||||||
ArcelorMittal | 696,578 | 15,786,086 | ||||||
Tenaris SA - ADR | 682,482 | 21,730,227 | ||||||
37,516,313 | ||||||||
Netherlands - 6.0% | ||||||||
Koninklijke Ahold Delhaize NV | 881,718 | 28,417,275 | ||||||
Randstad Holding NV | 110,782 | 5,390,431 | ||||||
Shell PLC - ADR (b) | 407,437 | 29,832,537 | ||||||
Stellantis NV | 1,302,494 | 21,713,872 | ||||||
85,354,115 | ||||||||
Norway - 1.9% | ||||||||
Equinor ASA - ADR (b) | 1,014,424 | 26,943,101 | ||||||
Poland - 0.3% | ||||||||
LPP SA | 1,010 | 3,870,601 | ||||||
Portugal - 0.9% | ||||||||
Galp Energia SGPS SA | 384,170 | 8,088,774 | ||||||
Jeronimo Martins SGPS SA | 300,890 | 5,259,062 | ||||||
13,347,836 | ||||||||
Singapore - 1.5% | ||||||||
Seatrium Ltd. (a) | 1,716,010 | 2,156,727 | ||||||
Singapore Airlines Ltd. | 3,525,040 | 18,380,735 | ||||||
20,537,462 | ||||||||
South Korea - 4.4% | ||||||||
Doosan Enerbility Co. Ltd. (a) | 494,330 | 6,761,020 | ||||||
Hanwha Aerospace Co. Ltd. | 30,178 | 6,312,885 | ||||||
HD Korea Shipbuilding & Offshore Engineering Co. Ltd. (a) | 67,140 | 10,094,774 | ||||||
Hyundai Mobis Co. Ltd. | 51,444 | 8,239,260 | ||||||
Kia Corp. | 320,499 | 26,096,196 | ||||||
Krafton, Inc. (a) | 16,390 | 3,500,025 | ||||||
LG H&H Co. Ltd. | 7,398 | 1,891,481 | ||||||
62,895,641 | ||||||||
Spain - 2.4% | ||||||||
ACS Actividades de Construccion y Servicios SA | 155,189 | 6,929,760 | ||||||
Telefonica SA | 6,006,459 | 27,165,576 | ||||||
34,095,336 | ||||||||
Sweden - 1.6% | ||||||||
H & M Hennes & Mauritz AB - Class B | 741,320 | 11,508,278 | ||||||
SSAB AB - Class B | 1,238,316 | 6,267,202 | ||||||
Tele2 AB - Class B | 414,564 | 4,265,954 | ||||||
22,041,434 | ||||||||
Switzerland - 4.0% | ||||||||
Glencore PLC | 4,756,434 | 26,280,600 | ||||||
Holcim Ltd. | 271,356 | 25,424,457 | ||||||
Logitech International SA | 62,480 | 5,636,191 | ||||||
57,341,248 | ||||||||
United Kingdom - 13.6% | ||||||||
B&M European Value Retail SA | 697,782 | 4,198,999 | ||||||
BP PLC - ADR | 797,734 | 28,231,806 | ||||||
British American Tobacco PLC - ADR | 910,768 | 32,459,772 | ||||||
Bunzl PLC | 152,842 | 6,401,492 | ||||||
Centrica PLC | 11,147,223 | 18,994,760 | ||||||
International Consolidated Airlines Group SA (a) | 3,796,336 | 8,091,640 | ||||||
JD Sports Fashion PLC | 2,908,193 | 4,920,016 | ||||||
Kingfisher PLC | 2,098,040 | 7,452,158 | ||||||
Marks & Spencer Group PLC | 1,165,370 | 4,918,380 | ||||||
Rio Tinto PLC | 417,542 | 26,978,019 | ||||||
Tesco PLC | 5,079,167 | 21,651,820 | ||||||
Vodafone Group PLC - ADR | 3,112,450 | 29,132,532 | ||||||
193,431,394 | ||||||||
United States - 0.2% | ||||||||
Samsonite International SA (c) | 886,223 | 2,557,880 | ||||||
TOTAL COMMON STOCKS (Cost $1,321,671,103) | 1,400,129,668 | |||||||
PREFERRED STOCKS - 1.1% | Shares | Value | ||||||
Germany - 1.1% | ||||||||
Henkel AG & Co. KGaA | 179,060 | 15,328,621 | ||||||
TOTAL PREFERRED STOCKS (Cost $15,704,351) | 15,328,621 | |||||||
INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING- 3.2% | ||||||||
Mount Vernon Liquid Assets Portfolio, LLC - 5.51% (d) | 45,121,109 | 45,121,109 | ||||||
TOTAL INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING (Cost $45,121,109) | 45,121,109 | |||||||
TOTAL INVESTMENTS - 102.8% (Cost $1,382,496,563) | 1,460,579,398 | |||||||
Liabilities in Excess of Other Assets - (2.8)% | (39,587,585 | ) | ||||||
TOTAL NET ASSETS - 100.0% | $ | 1,420,991,813 | ||||||
Percentages are stated as a percent of net assets. | ||||||||
For Fund compliance purposes, the Fund’s industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or they may be defined by Fund management. This definition does not apply for all purposes of this report, which may combine sub-classifications for reporting ease. |
ADR - American Depositary Receipt |
AG - Aktiengesellschaft |
ASA - Advanced Subscription Agreement |
NV - Naamloze Vennootschap |
PLC - Public Limited Company |
SA - Sociedad Anónima |
(a) | Non-income producing security. |
(b) | All or a portion of this security is on loan as of July 31, 2024. The total market value of these securities was $45,092,700 which represented 3.2% of net assets. |
(c) | Security is exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may only be resold in transactions exempt from registration to qualified institutional investors. As of July 31, 2024, the value of these securities total $7,216,176 or 0.5% of the Fund’s net assets. |
(d) | The rate shown represents the 7-day annualized effective yield as of July 31, 2024. |
Summary of Fair Value Disclosure as of July 31, 2024 (Unaudited)
Pacer Developed Markets International Cash Cows 100 ETF has adopted authoritative fair value accounting standards which establish an authoritative definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities.
Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.
Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.
Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund’s own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available.
The following is a summary of the fair valuation hierarchy of the Fund’s securities as of July 31, 2024:
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Investments: | ||||||||||||||||
Common Stocks | $ | 1,400,129,668 | $ | – | $ | – | $ | 1,400,129,668 | ||||||||
Preferred Stocks | 15,328,621 | – | – | 15,328,621 | ||||||||||||
Investments Purchased with Proceeds from Securities Lending(a) | – | – | – | 45,121,109 | ||||||||||||
Total Investments | $ | 1,415,458,290 | $ | – | $ | – | $ | 1,460,579,398 | ||||||||
Refer to the Schedule of Investments for further disaggregation of investment categories. |
(a) | Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts listed in the Schedule of Investments. |