Pace Select Advisors Trust (PREEF) NPORT-P PACE Mortgage-Backed Securities Fixed Income Investments (Oct 2023 report)

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount		Value
Asset-backed securities—7.6%
Ameriquest Mortgage Securities, Inc. Asset-Backed Pass-Through Certificates,
Series 2005-R1, Class M4,
1 mo. USD Term SOFR + 1.224%,
6.549%, due 03/25/351	$	184,228	$	177,367
Amortizing Residential Collateral Trust,
Series 2004-1, Class A5,
1 mo. USD Term SOFR + 1.114%,
6.439%, due 10/25/341		81,928		79,159
Bear Stearns Asset-Backed Securities Trust,
Series 2004-2, Class M1,
1 mo. USD Term SOFR + 1.314%,
6.639%, due 08/25/341		1,562,624		1,559,264
Chase Funding Trust,
Series 2002-3, Class 2A1,
1 mo. USD Term SOFR + 0.754%,
6.079%, due 08/25/321		120,099		111,786
Series 2002-4, Class 2A1,
1 mo. USD Term SOFR + 0.854%,
6.179%, due 10/25/321		5,957		5,685
CIT Mortgage Loan Trust,
Series 2007-1, Class 1A,
1 mo. USD Term SOFR + 1.464%,
6.789%, due 10/25/371,2		19,559		19,527
Countrywide Asset-Backed Certificates,
Series 2004-2, Class 3A4,
1 mo. USD Term SOFR + 0.614%,
5.939%, due 07/25/341		61,868		58,711
Countrywide Asset-Backed Certificates Trust,
Series 2004-4, Class M1,
1 mo. USD Term SOFR + 0.834%,
6.159%, due 07/25/341		28,744		28,292
Series 2004-6, Class M1,
1 mo. USD Term SOFR + 1.014%,
6.339%, due 10/25/341		63,141		60,709
Dryden Senior Loan Fund,
Series 2017-47A, Class A1R,
3 mo. USD Term SOFR + 1.242%,
6.636%, due 04/15/281,2		1,080,358		1,076,988
EMC Mortgage Loan Trust,
Series 2003-A, Class A2,
1 mo. USD Term SOFR + 1.614%,
6.939%, due 08/25/401,2		45,190		43,061
EquiFirst Loan Securitization Trust,
Series 2007-1, Class A1,
1 mo. USD Term SOFR + 0.284%,
5.609%, due 04/25/371,2		1,147,997		995,768

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount		Value
Asset-backed securities—(continued)
Gallatin CLO VIII Ltd.,
Series 2017-1A, Class A1R,
3 mo. USD Term SOFR + 1.352%,
6.746%, due 07/15/311,2	$	1,391,640	$	1,382,088
KGS-Alpha SBA COOF Trust,
Series 2012-5, Class A,
1.044%, due 04/25/381,2,3,4		5,842,828		124,365
Option One Mortgage Loan Trust,
Series 2007-4, Class 2A2,
1 mo. USD Term SOFR + 0.294%,
5.619%, due 04/25/371		46,431		25,138
Park Place Securities, Inc. Asset-Backed Pass-Through Certificates,
Series 2005-WHQ3, Class M4,
1 mo. USD Term SOFR + 1.059%,
6.384%, due 06/25/351		10,536		10,460
PRET LLC,
Series 2021-RN2, Class A1,
1.744%, due 07/25/511,2		3,773,484		3,484,253
Series 2022-RN1, Class A1,
3.721%, due 07/25/511,2		1,295,208		1,251,906
Renaissance Home Equity Loan Trust,
Series 2003-2, Class A,
1 mo. USD Term SOFR + 0.994%,
4.051%, due 08/25/331		106,046		92,982
Residential Asset Securities Corporation Trust,
Series 2005-KS11, Class M2,
1 mo. USD Term SOFR + 0.744%,
6.069%, due 12/25/351		47,854		47,425
Saxon Asset Securities Trust,
Series 2005-3, Class M3,
1 mo. USD Term SOFR + 0.864%,
1.644%, due 11/25/351		665,740		636,836
Soundview Home Loan Trust,
Series 2007-OPT1, Class 1A1,
1 mo. USD Term SOFR + 0.314%,
5.639%, due 06/25/371		554,977		367,663
Structured Asset Securities Corp. Mortgage Loan Trust,
Series 2006-EQ1A, Class A1,
1 mo. USD Term SOFR + 0.249%,
5.574%, due 07/25/361,2		28,714		28,340
Structured Asset Securities Corp. Trust,
Series 2005-AR1, Class M2,
1 mo. USD Term SOFR + 0.804%,
6.129%, due 09/25/351		878,152		807,179

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount		Value
Asset-backed securities—(continued)
Symphony CLO XVII Ltd.,
Series 2016-17A, Class AR,
3 mo. USD Term SOFR + 1.142%,
6.536%, due 04/15/281,2	$	31,980	$	31,956
Venture 33 CLO Ltd.,
Series 2018-33A, Class A1LR,
3 mo. USD Term SOFR + 1.322%,
6.716%, due 07/15/311,2		492,375		490,360
Venture 36 CLO Ltd.,
Series 2019-36A, Class A1AR,
3 mo. USD Term SOFR + 1.392%,
6.807%, due 04/20/321,2		800,000		787,498
Vibrant CLO VI Ltd.,
Series 2017-6A, Class AR,
3 mo. USD Term SOFR + 1.212%,
6.610%, due 06/20/291,2		476,646		475,569
Total asset-backed securities
(cost—$14,581,566)				14,260,335
Mortgage-backed securities—15.7%
Adjustable Rate Mortgage Trust,
Series 2005-8, Class 3A21,
4.509%, due 11/25/351		265,377		178,371
BCAP LLC Trust,
Series 2010-RR1, Class 1A4,
3.856%, due 03/26/371,2		55,180		42,519
Series 2013-RR1, Class 3A4,
6.000%, due 10/26/371,2		135,092		91,735
Bear Stearns ARM Trust,
Series 2002-11, Class 1A2,
3.250%, due 02/25/331		1,217		866
Series 2004-2, Class 12A2,
3.652%, due 05/25/341		19,980		17,809
Bear Stearns Asset-Backed Securities I Trust,
Series 2004-AC3, Class A2,
5.500%, due 06/25/341		312,995		288,908
Bear Stearns Asset-Backed Securities Trust,
Series 2003-AC5, Class A1,
5.750%, due 10/25/331		148,753		151,788
Chevy Chase Funding LLC Mortgage-Backed Certificates,
Series 2004-1A, Class A1,
1 mo. USD Term SOFR + 0.394%,
5.719%, due 01/25/351,2		11,912		10,959
CHL Mortgage Pass-Through Trust,
Series 2003-HYB1, Class 1A1,
3.866%, due 05/19/331		2,792		2,448
Series 2007-15, Class 2A2,
6.500%, due 09/25/37		24,158		8,546
Citigroup Commercial Mortgage Trust,
Series 2019-SMRT, Class A,
4.149%, due 01/10/362		3,200,000		3,193,838
FHLMC GNMA,
Series 23, Class KZ,
6.500%, due 11/25/23		5		5

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount		Value
Mortgage-backed securities—(continued)
FHLMC Multifamily Structured Pass-Through Certificates,
Series KJ45, Class A2,
4.660%, due 01/25/31	$	600,000	$	566,593
FHLMC REMIC,
Series 4324,
0.000%, due 08/15/361		42,820		1,456
Series 3684, Class JI,
0.000%, due 11/15/361		127,836		8,371
Series 4367, Class GS,
0.000%, due 03/15/371		39,736		2,265
Series 3621, Class WI,
0.000%, due 05/15/371		25,847		1,231
Series 3598, Class JI,
0.000%, due 10/15/371		15,408		562
Series 3635, Class IB,
0.000%, due 10/15/371		44,804		2,007
Series 4463,
0.000%, due 02/15/381		70,346		3,308
Series 3962, Class KS,
0.000%, due 06/15/381		98,298		6,181
Series 4438, Class WI,
0.000%, due 11/15/381		112,685		5,375
Series 4394, Class WI,
0.000%, due 08/15/411		34,043		1,696
Series 4338, Class SB,
0.000%, due 10/15/411		60,540		2,320
Series 4255, Class SN,
(2.667)* 30 day USD SOFR Average + 11.961%,
0.000%, due 05/15/351		302,449		248,316
Series 4263, Class SD,
(2.667)* 30 day USD SOFR Average + 11.961%,
0.000%, due 11/15/431		329,795		243,596
Series 4265, Class ES,
(3.200)* 30 day USD SOFR Average + 13.394%,
0.000%, due 11/15/431		828,981		578,926
Series 2614, Class WO,
0.010%, due 05/15/335		354,045		287,637
Series 4839, Class UO,
0.010%, due 08/15/565		429,836		260,470
Series 4836,
0.010%, due 10/15/585		707,311		448,753
Series 4076, Class SW,
(1.000)* 30 day USD SOFR Average + 5.936%,
0.615%, due 07/15/421		963,543		73,299
Series 4156, Class SA,
(1.000)* 30 day USD SOFR Average + 6.086%,
0.765%, due 01/15/331		650,480		29,423

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount		Value
Mortgage-backed securities—(continued)
Series 3339, Class LI,
(1.000)* 30 day USD SOFR Average + 6.366%,
1.045%, due 07/15/371	$	480,532	$	30,789
Series 5034, Class MI,
2.000%, due 11/25/50		676,101		82,273
Series 4182, Class YI,
2.500%, due 03/15/28		998,163		39,018
Series 2513, Class AS,
(1.000)* 30 day USD SOFR Average + 7.886%,
2.565%, due 02/15/321		121,167		10,112
Series 4037, Class PI,
3.000%, due 04/15/27		281,759		5,272
Series 4100, Class HI,
3.000%, due 08/15/27		87,729		3,318
Series 4182, Class QI,
3.000%, due 02/15/33		54,670		2,981
Series 4165, Class TI,
3.000%, due 12/15/42		536,873		39,149
Series 4457, Class DI,
4.000%, due 08/15/24		31,464		288
Series 4544, Class IP,
4.000%, due 01/15/46		978,209		161,118
Series 4945, Class F,
30 day USD SOFR Average + 0.614%,
5.034%, due 12/15/461		121,842		116,805
Series 4832, Class FW,
30 day USD SOFR Average + 0.464%,
5.270%, due 04/15/381		793,692		773,920
Series 3442, Class MT,
30 day USD SOFR Average + 0.114%,
5.435%, due 07/15/341		29,436		27,544
Series 3864, Class NT,
(9.167)* 30 day USD SOFR Average + 59.451%,
5.500%, due 03/15/391		213,875		208,152
Series 2411, Class FJ,
30 day USD SOFR Average + 0.464%,
5.785%, due 12/15/291		5,629		5,585
Series 3096, Class FL,
30 day USD SOFR Average + 0.514%,
5.835%, due 01/15/361		53,886		52,384
Series 3114, Class PF,
30 day USD SOFR Average + 0.514%,
5.835%, due 02/15/361		332,427		324,109
Series 3153, Class UF,
30 day USD SOFR Average + 0.544%,
5.865%, due 05/15/361		83,388		81,489

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount		Value
Mortgage-backed securities—(continued)
Series 2400, Class FQ,
30 day USD SOFR Average + 0.614%,
5.935%, due 01/15/321	$	20,299	$	20,257
Series 4068, Class UF,
30 day USD SOFR Average + 0.614%,
5.935%, due 06/15/421		407,937		391,076
Series 3667, Class FW,
30 day USD SOFR Average + 0.664%,
5.985%, due 02/15/381		7,041		6,851
Series 4940, Class FE,
30 day USD SOFR Average + 0.664%,
5.985%, due 01/25/501		256,989		244,770
Series 3671, Class FQ,
30 day USD SOFR Average + 0.964%,
6.285%, due 12/15/361		496,705		497,270
Series 1694, Class Z,
6.500%, due 03/15/24		1,026		1,023
Series 1658, Class GZ,
7.000%, due 01/15/24		63		63
Series 2136, Class GD,
7.000%, due 03/15/29		598		58
Series 2178, Class PI,
7.500%, due 08/15/29		3,882		487
Series 1775, Class Z,
8.500%, due 03/15/25		236		239
FHLMC STRIPs,
Series 386, Class C3,
2.500%, due 03/15/52		455,911		69,828
Series 389, Class C40,
2.500%, due 10/15/52		4,793,891		701,881
Series 303, Class C19,
3.500%, due 01/15/43		409,693		66,203
Series 345, Class C13,
3.500%, due 08/15/45		539,629		88,371
Series 330, Class F4,
30 day USD SOFR Average + 0.464%,
5.273%, due 10/15/371		175,655		171,269
Series 326, Class F2,
30 day USD SOFR Average + 0.664%,
5.985%, due 03/15/441		249,361		239,321
FHLMC Whole Loan Securities Trust,
Series 2015-SC02, Class 1A,
3.000%, due 09/25/45		198,760		170,780
Series 2017-SC01, Class 1A,
3.000%, due 12/25/46		353,216		286,191
Series 2017-SC01, Class 2A,
3.500%, due 12/25/46		394,970		332,274
FNMA Aces,
Series 2020-M33, Class X2,
2.242%, due 01/25/311		587,618		52,716
Series 2016-M11, Class AL,
2.944%, due 07/25/39		464,415		393,533

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount		Value
Mortgage-backed securities—(continued)
FNMA REMIC,
Series 2014-43, Class BS,
0.000%, due 07/25/441	$	200,912	$	9,543
Series 2014-42, Class SA,
0.000%, due 07/25/441		120,628		4,543
Series 2014-45, Class SA,
0.000%, due 08/25/441		95,450		4,008
Series 2014-92, Class SB,
0.000%, due 01/25/451		117,234		6,480
Series 2015-10, Class SA,
0.000%, due 03/25/451		224,980		11,425
Series 2015-50, Class SB,
0.000%, due 07/25/451		600,533		31,543
Series 2015-64, Class KS,
0.000%, due 09/25/451		136,554		6,404
Series 2016-17, Class CS,
0.000%, due 04/25/461		85,555		5,184
Series 2016-76, Class CS,
0.000%, due 10/25/461		41,598		1,906
Series 2020-70,
0.000%, due 10/25/501		10,534,592		605,771
Series 2012-77,
0.000%, due 07/25/521		114,861		4,792
Series 2014-47, Class BI,
0.000%, due 08/25/541		188,911		8,225
Series 2015-19, Class AI,
0.000%, due 04/25/551		187,274		8,156
Series 2015-58, Class AI,
0.000%, due 08/25/551		109,855		3,856
Series 2012-111, Class HS,
(0.833)* 30 day USD SOFR Average + 3.571%,
0.000%, due 10/25/421		36,376		19,372
Series 2022-3, Class SD,
(1.000)* 30 day USD SOFR Average + 2.550%,
0.000%, due 02/25/521		3,915,820		11,747
Series 2015-73, Class ES,
(2.333)* 30 day USD SOFR Average + 9.066%,
0.000%, due 10/25/451		176,805		81,692
Series 2014-84, Class AI,
(1.000)* 30 day USD SOFR Average + 6.036%,
0.200%, due 02/25/431		254,649		1,633
Series 2019-62, Class SN,
(1.000)* 30 day USD SOFR Average + 5.886%,
0.565%, due 11/25/491		201,933		18,958
Series 2013-28, Class YS,
(1.000)* 30 day USD SOFR Average + 6.036%,
0.715%, due 07/25/421		345,476		30,489

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount		Value
Mortgage-backed securities—(continued)
Series 2013-34, Class PS,
(1.000)* 30 day USD SOFR Average + 6.036%,
0.715%, due 08/25/421	$	322,453	$	14,527
Series 2010-76, Class SA,
(1.000)* 30 day USD SOFR Average + 6.386%,
1.065%, due 07/25/401		419,780		24,515
Series 2021-3, Class TI,
2.500%, due 02/25/51		862,086		138,174
Series 2013-30, Class GI,
3.000%, due 01/25/43		630,278		53,984
Series 2013-45, Class IK,
3.000%, due 02/25/43		496,441		53,978
Series 2013-30, Class JI,
3.000%, due 04/25/43		252,374		32,400
Series 2013-116, Class IY,
3.000%, due 09/25/43		178,696		12,155
Series 2016-14,
3.000%, due 03/25/46		351,933		44,917
Series 2016-20, Class EI,
3.000%, due 04/25/46		113,932		14,809
Series 2016-52, Class PI,
3.000%, due 04/25/46		280,730		34,003
Series 2016-64, Class IA,
3.000%, due 05/25/46		279,895		35,260
Series 2018-28, Class CA,
3.000%, due 05/25/48		241,060		201,826
Series 2020-54, Class WF,
30 day USD SOFR Average + 0.564%,
3.169%, due 08/25/501		504,014		477,300
Series 2016-63, Class YI,
3.500%, due 04/25/46		52,227		4,091
Series 2015-47, Class GI,
4.000%, due 06/25/44		38,497		3,638
Series 2012-122, Class LI,
4.500%, due 07/25/41		266,534		21,249
Series 2018-85, Class FE,
30 day USD SOFR Average + 0.414%,
5.735%, due 12/25/481		1,482,501		1,427,622
Series 2007-67, Class FB,
30 day USD SOFR Average + 0.434%,
5.755%, due 07/25/371		30,596		29,410
Series 2012-128, Class FK,
30 day USD SOFR Average + 0.464%,
5.785%, due 11/25/421		120,433		114,413
Series 2002-60, Class F1,
30 day USD SOFR Average + 0.514%,
5.835%, due 06/25/321		36,451		36,128

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount		Value
Mortgage-backed securities—(continued)
Series 2019-10, Class FA,
30 day USD SOFR Average + 0.514%,
5.835%, due 03/25/491	$	2,383,787	$	2,286,911
Series 2012-90, Class FB,
30 day USD SOFR Average + 0.554%,
5.875%, due 08/25/421		44,040		42,164
Series 2010-141, Class FA,
30 day USD SOFR Average + 0.614%,
5.935%, due 12/25/401		121,903		117,259
Series 2009-33, Class FB,
30 day USD SOFR Average + 0.934%,
6.255%, due 03/25/371		274,581		273,325
Series G94-6, Class PJ,
8.000%, due 05/17/24		25		25
FNMA STRIPs,
Series 419, Class C3,
3.000%, due 11/25/43		87,959		12,431
Series 413, Class 111,
4.000%, due 07/25/421		432,756		63,255
Series 386, Class 14,
6.500%, due 04/25/38		31,752		9,288
Fremont Home Loan Trust,
Series 2004-A, Class M1,
1 mo. USD Term SOFR + 0.939%,
6.264%, due 01/25/341		297,569		277,237
GNMA,
Series 2015-166, Class SA,
0.000%, due 06/20/421		148,167		3,499
Series 2015-180, Class SA,
0.000%, due 06/20/421		160,435		3,800
Series 2015-127, Class AS,
0.000%, due 06/20/431		147,366		3,149
Series 2016-138, Class WI,
0.000%, due 08/20/451		134,734		2,416
Series 2016-180, Class WI,
0.000%, due 09/20/451		251,307		4,616
Series 2017-15, Class WI,
0.000%, due 11/20/451		154,869		3,019
Series 2017-57, Class WI,
0.000%, due 12/20/451		68,413		1,916
Series 2015-126, Class GS,
1 mo. USD Term SOFR + 9.066%,
0.000%, due 09/20/451		323,052		151,884
Series 2007-18, Class CO,
0.010%, due 03/20/355		13,837		12,311
Series 2013-77, Class GI,
3.000%, due 02/20/43		714,873		66,630
Series 2017-H23, Class MA,
3.000%, due 11/20/67		649,669		607,107
Series 2014-158, Class IA,
3.500%, due 10/20/29		265,136		17,177

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount		Value
Mortgage-backed securities—(continued)
Series 2013-23, Class IP,
3.500%, due 08/20/42	$	600,018	$	71,879
Series 2015-165, Class IB,
3.500%, due 11/20/42		157,013		15,954
Series 2016-118, Class IE,
3.500%, due 09/20/46		30,489		5,153
Series 2015-H29, Class FA,
1 mo. USD Term SOFR + 0.814%,
4.625%, due 10/20/651		1,863		1,844
Series 2015-H30, Class FA,
1 mo. USD Term SOFR + 0.794%,
4.810%, due 08/20/611		3,566		3,495
Series 2015-H29, Class FJ,
1 mo. USD Term SOFR + 0.794%,
4.961%, due 11/20/651		1,141,010		1,131,408
Series 2013-H19, Class DF,
1 mo. USD Term SOFR + 0.764%,
6.093%, due 05/20/631		236,105		234,472
Series 2013-H23, Class TA,
1 mo. USD Term SOFR + 0.834%,
6.163%, due 09/20/631		127,283		127,082
Series 2015-H27, Class FA,
1 mo. USD Term SOFR + 0.864%,
6.193%, due 09/20/651		1,476,825		1,466,814
Series 2016-H14, Class FA,
1 mo. USD Term SOFR + 0.914%,
6.243%, due 06/20/661		281,099		279,340
Series 2010-H01, Class FA,
1 mo. USD Term SOFR + 0.934%,
6.252%, due 01/20/601		563,268		562,874
Series 2013-H20, Class FB,
1 mo. USD Term SOFR + 1.114%,
6.443%, due 08/20/631		172,592		172,904
GS Mortgage-Backed Securities Trust,
Series 2022-MM1, Class A2,
2.500%, due 07/25/521,2		1,589,550		1,159,192
GSR Mortgage Loan Trust,
Series 2004-14, Class 2A1,
1 mo. USD Term SOFR + 0.444%,
5.769%, due 12/25/341		2,658		2,497
IndyMac INDX Mortgage Loan Trust,
Series 2005-AR2, Class 2A1A,
1 mo. USD Term SOFR + 0.754%,
6.079%, due 02/25/351		169,974		144,391
JP Morgan Alternative Loan Trust,
Series 2008-R4, Class 2A1,
1 mo. USD Term SOFR + 0.614%,
5.932%, due 06/27/371,2		439,353		308,614

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount		Value
Mortgage-backed securities—(continued)
JP Morgan Mortgage Trust,
Series 2019-6, Class A11,
1 mo. USD Term SOFR + 1.014%,
6.334%, due 12/25/491,2	$	404,158	$	384,223
Series 2019-INV2, Class A11,
1 mo. USD Term SOFR + 1.014%,
6.334%, due 02/25/501,2		525,658		496,246
Merrill Lynch Mortgage Investors Trust,
Series 2004-1, Class 2A2,
4.465%, due 12/25/341		64,209		58,611
Series 2004-A, Class A1,
1 mo. USD Term SOFR + 0.574%,
5.899%, due 04/25/291		11,930		10,798
Morgan Stanley Mortgage Loan Trust,
Series 2004-11AR, Class 1A1,
1 mo. USD Term SOFR + 0.434%,
5.759%, due 01/25/351		15,575		13,620
Morgan Stanley Re-REMIC Trust,
Series 2010-R4, Class 4B,
1 mo. USD Term SOFR + 0.344%,
2.831%, due 02/26/371,2		98,166		84,956
Mortgage Equity Conversion Asset Trust,
Series 2007-FF3, Class A,
1 yr. CMT + 0.500%,
5.920%, due 05/25/421,2		1,395,380		1,367,386
OBX Trust,
Series 2022-INV2, Class A1,
3.000%, due 01/25/521,2		556,280		425,685
Pepper Residential Securities Trust No. 22,
Series 22A, Class A1U,
Secured Overnight Financing Rate + 1.114%,
6.433%, due 06/20/601,2		29,341		29,341
Residential Asset Securitization Trust,
Series 2006-A7CB, Class 1A1,
1 mo. USD Term SOFR + 0.614%,
5.939%, due 07/25/361		202,719		146,174
Sequoia Mortgage Trust 11,
Series 11, Class A,
1 mo. USD Term SOFR + 1.014%,
6.354%, due 12/20/321		90,538		79,144
Sequoia Mortgage Trust 5,
Series 5, Class A,
1 mo. USD Term SOFR + 0.814%,
6.148%, due 10/19/261		21,988		21,090
Structured Adjustable Rate Mortgage Loan Trust,
Series 2007-4, Class 1A2,
1 mo. USD Term SOFR + 0.554%,
5.879%, due 05/25/371		84,335		70,785

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount		Value
Mortgage-backed securities—(continued)
Structured Asset Mortgage Investments II Trust,
Series 2006-AR3, Class 11A1,
1 mo. USD Term SOFR + 0.534%,
5.859%, due 04/25/361	$	165,257	$	141,522
Thornburg Mortgage Securities Trust,
Series 2005-1, Class A3,
3.794%, due 04/25/451		19,865		18,460
WaMu Mortgage Pass-Through Certificates Trust,
Series 2003-AR9, Class 2A,
5.911%, due 09/25/331		32,135		28,431
Total mortgage-backed securities (cost—$34,178,435)				29,132,274
U.S. government agency obligations: 173.8%
FHLMC
1.500%, due 04/01/37		918,311		754,505
2.000%, due 04/01/36		715,298		606,662
2.500%, due 01/01/31		89,145		82,466
2.500%, due 11/01/31		26,491		24,407
2.500%, due 07/01/32		47,998		43,751
2.500%, due 08/01/32		210,650		191,496
2.500%, due 09/01/32		277,860		252,264
2.500%, due 11/01/32		9,094		8,280
2.500%, due 12/01/32		254,357		230,576
2.500%, due 01/01/33		63,204		57,256
2.500%, due 12/01/50		1,082,820		831,643
2.500%, due 08/01/51		4,974,327		3,871,400
2.500%, due 09/01/51		851,057		660,729
2.500%, due 03/01/52		1,325,254		1,025,166
2.500%, due 04/01/52		97,842		75,599
3.000%, due 10/01/26		10,513		10,184
3.000%, due 11/01/26		64,874		62,894
3.000%, due 01/01/27		313,970		303,893
3.000%, due 02/01/32		95,066		88,417
3.000%, due 04/01/32		487,989		453,688
3.000%, due 05/01/32		330,955		307,433
3.000%, due 07/01/32		180,011		167,018
3.000%, due 10/01/32		187,036		173,212
3.000%, due 11/01/32		328,790		304,357
3.000%, due 01/01/33		710,230		655,430
3.000%, due 02/01/40		1,084,212		940,147
3.000%, due 06/01/42		1,520,733		1,267,983
3.000%, due 07/01/42		174,281		145,315
3.000%, due 08/01/42		62,613		52,207
3.000%, due 04/01/43		125,508		105,312
3.000%, due 05/01/43		70,042		58,718
3.000%, due 12/01/44		132,462		109,685
3.000%, due 08/01/46		135,543		109,741
3.000%, due 12/01/46		647,419		533,781
3.000%, due 06/01/50		536,063		436,744
3.000%, due 04/01/51		1,563,322		1,257,646
3.000%, due 06/01/51		793,396		638,214
3.000%, due 07/01/51		3,900,443		3,168,672

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount		Value
U.S. government agency obligations—(continued)
3.000%, due 10/01/51	$	160,472	$	130,041
3.000%, due 12/01/51		1,359,949		1,093,309
3.000%, due 02/01/52		443,187		356,293
3.000%, due 03/01/52		1,092,586		879,130
3.000%, due 04/01/52		2,843,695		2,285,523
3.050%, due 03/01/32		221,351		179,482
3.500%, due 09/01/32		196,367		183,105
3.500%, due 12/01/33		116,238		107,981
3.500%, due 06/01/34		68,438		63,065
3.500%, due 07/01/34		28,127		25,919
3.500%, due 03/01/35		416,366		383,679
3.500%, due 04/01/35		216,311		198,737
3.500%, due 03/01/42		867		753
3.500%, due 07/01/43		676		585
3.500%, due 05/01/48		626,512		535,485
3.500%, due 02/01/50		265,473		224,542
3.500%, due 11/01/51		234,761		195,967
3.500%, due 01/01/52		204,230		170,449
3.500%, due 03/01/52		190,823		159,088
3.500%, due 04/01/52		1,159,821		966,850
3.500%, due 09/01/52		957,575		798,964
4.000%, due 01/01/37		145,227		129,689
4.000%, due 03/01/43		508,154		453,235
4.000%, due 07/01/43		81,795		72,955
4.000%, due 08/01/44		1,194,229		1,068,342
4.000%, due 11/01/47		129,033		114,069
4.000%, due 01/01/48		355,514		314,267
4.000%, due 02/01/48		17,270		15,266
4.000%, due 03/01/48		11,263		9,933
4.000%, due 04/01/48		26,759		23,600
4.000%, due 06/01/48		112,150		98,427
4.000%, due 10/01/48		1,602,664		1,411,359
4.000%, due 12/01/48		155,477		136,446
4.000%, due 04/01/49		547,935		481,669
4.500%, due 09/01/34		526,267		509,146
4.500%, due 01/01/36		10,271		9,931
4.500%, due 05/01/37		1,110		1,047
4.500%, due 05/01/38		27,735		26,072
4.500%, due 12/01/42		134,797		122,780
4.500%, due 01/01/43		160,930		146,584
4.500%, due 02/01/43		255,767		232,966
4.500%, due 06/01/43		391,450		355,340
4.500%, due 02/01/49		58,719		53,482
4.500%, due 06/01/50		340,781		307,405
4.500%, due 12/01/52		475,063		425,302
4.500%, due 03/01/53		503,268		450,825
4.500%, due 06/01/53		197,849		176,758
5.000%, due 10/01/25		6,061		5,987
5.000%, due 11/01/27		1,548		1,523
5.000%, due 09/01/33		73,026		71,718
5.000%, due 06/01/34		3,319		3,251
5.000%, due 04/01/35		25,548		25,023

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount		Value
U.S. government agency obligations—(continued)
5.000%, due 05/01/35	$	32,949	$	32,194
5.000%, due 07/01/35		56,116		54,830
5.000%, due 08/01/35		8,980		8,774
5.000%, due 10/01/35		8,238		8,049
5.000%, due 12/01/35		244		238
5.000%, due 07/01/38		119,517		115,715
5.000%, due 11/01/38		80,242		77,993
5.000%, due 06/01/39		18,597		17,923
5.000%, due 03/01/40		2,025		1,945
5.000%, due 07/01/40		84,592		81,278
5.000%, due 09/01/40		79,063		76,232
5.000%, due 11/01/40		25,933		24,917
5.000%, due 02/01/41		109,406		104,869
5.000%, due 03/01/41		17,983		17,237
5.000%, due 04/01/41		41,333		39,637
5.000%, due 05/01/41		28,511		27,329
5.000%, due 07/01/41		16,980		16,276
5.000%, due 08/01/44		18,915		18,384
5.000%, due 03/01/49		630,484		592,659
5.000%, due 02/01/53		560,746		517,921
5.000%, due 03/01/53		306,939		283,463
5.000%, due 05/01/53		757,261		699,516
5.000%, due 06/01/53		1,515,013		1,403,662
5.000%, due 08/01/53		408,332		376,823
5.500%, due 02/01/32		544		544
5.500%, due 12/01/32		990		988
5.500%, due 02/01/33		24,742		24,718
5.500%, due 05/01/33		240		240
5.500%, due 06/01/33		92,959		92,876
5.500%, due 12/01/33		18,300		18,283
5.500%, due 12/01/34		15,529		15,532
5.500%, due 06/01/35		257,488		257,276
5.500%, due 07/01/35		2,040		2,038
5.500%, due 10/01/35		89,290		89,230
5.500%, due 12/01/35		32,909		32,885
5.500%, due 06/01/36		146,684		146,713
5.500%, due 12/01/36		225,861		224,417
5.500%, due 03/01/37		28,965		28,765
5.500%, due 07/01/37		44,284		43,975
5.500%, due 10/01/37		1,143		1,135
5.500%, due 04/01/38		44,100		43,818
5.500%, due 05/01/38		4,301		4,261
5.500%, due 12/01/38		785		777
5.500%, due 01/01/39		20,798		20,654
5.500%, due 09/01/39		65,971		65,512
5.500%, due 02/01/40		2,644		2,619
5.500%, due 03/01/40		2,413		2,390
5.500%, due 05/01/40		37,906		37,552
5.500%, due 03/01/41		39,262		38,895
6.000%, due 11/01/37		399,944		407,671
7.000%, due 08/01/25		18		18

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount		Value
U.S. government agency obligations—(continued)
FHLMC ARM
1 yr. CMT + 2.137%,
4.262%, due 01/01/281	$	3,793	$	3,768
1 yr. CMT + 2.240%,
4.365%, due 04/01/291		14		14
1 yr. CMT + 2.225%,
4.462%, due 07/01/241		1,541		1,523
1 yr. CMT + 2.415%,
4.568%, due 01/01/291		15,557		15,428
1 yr. CMT + 2.415%,
4.627%, due 11/01/251		12,337		12,157
1 yr. CMT + 2.525%,
4.650%, due 12/01/291		3,760		3,762
1.769% + 1 year RFUCCT,
4.686%, due 10/01/391		490,835		485,429
1 yr. CMT + 2.625%,
4.750%, due 01/01/301		14,487		14,532
1 yr. CMT + 2.150%,
4.810%, due 11/01/271		20,850		20,572
1 yr. CMT + 2.282%,
4.899%, due 07/01/281		29,273		28,898
1 yr. CMT + 2.282%,
5.282%, due 06/01/281		9,396		9,278
1 yr. CMT + 2.222%,
5.285%, due 11/01/291		28,793		28,464
1.765% + 1 year RFUCCT,
5.450%, due 11/01/361		160,844		160,479
1 yr. CMT + 2.494%,
5.574%, due 10/01/271		10,920		10,792
1.864% + 1 year RFUCCT,
5.799%, due 11/01/411		501,696		503,542
1 yr. CMT + 2.444%,
5.830%, due 10/01/271		18,823		18,643
1 yr. CMT + 2.250%,
6.260%, due 09/01/341		238,681		240,344
FNMA
1.500%, due 08/01/51		488,333		339,033
2.000%, due 05/01/28		78,937		73,449
2.000%, due 09/01/31		67,506		60,936
2.000%, due 11/01/31		266,022		240,565
2.000%, due 01/01/32		52,004		46,893
2.500%, due 06/01/28		51,819		49,141
2.500%, due 07/01/28		486,191		458,506
2.500%, due 08/01/28		153,218		144,317
2.500%, due 09/01/30		12,759		11,821
2.500%, due 11/01/30		18,800		17,390
2.500%, due 01/01/33		204,098		177,544
2.500%, due 11/01/50		420,440		322,928
2.500%, due 01/01/51		1,130,051		867,874
2.500%, due 02/01/51		519,776		401,859
2.500%, due 04/01/51		1,499,229		1,156,527

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount		Value
U.S. government agency obligations—(continued)
2.500%, due 09/01/51	$	1,707,380	$	1,322,577
2.500%, due 01/01/52		1,660,343		1,281,224
2.500%, due 03/01/52		750,810		580,802
2.500%, due 04/01/52		1,376,477		1,064,612
3.000%, due 10/01/26		14,844		14,367
3.000%, due 11/01/26		311,907		301,931
3.000%, due 12/01/26		27,067		26,189
3.000%, due 01/01/27		295,162		285,385
3.000%, due 02/01/27		56,538		54,645
3.000%, due 05/01/28		57,991		55,367
3.000%, due 02/01/30		70,013		66,489
3.000%, due 04/01/30		25,742		24,243
3.000%, due 05/01/30		32,114		30,157
3.000%, due 10/01/30		11,026		10,329
3.000%, due 04/01/31		749,382		705,994
3.000%, due 02/01/32		93,481		86,931
3.000%, due 03/01/32		90,512		84,088
3.000%, due 04/01/32		452,248		419,943
3.000%, due 05/01/32		135,338		125,587
3.000%, due 07/01/32		266,776		247,329
3.000%, due 08/01/32		115,854		107,274
3.000%, due 11/01/32		231,983		214,446
3.000%, due 01/01/38		266,475		234,249
3.000%, due 04/01/38		255,166		222,925
3.000%, due 05/01/42		181,846		151,623
3.000%, due 06/01/42		186,182		155,247
3.000%, due 07/01/42		363,549		303,127
3.000%, due 01/01/43		978,277		820,182
3.000%, due 04/01/43		298,105		249,715
3.000%, due 05/01/43		315,147		263,992
3.000%, due 06/01/43		41,502		34,765
3.000%, due 09/01/43		30,018		25,145
3.000%, due 11/01/46		1,164,684		975,253
3.000%, due 12/01/46		2,711,782		2,234,553
3.000%, due 02/01/47		218,831		183,310
3.000%, due 09/01/49		802,772		642,743
3.000%, due 11/01/49		227,851		186,758
3.000%, due 02/01/50		1,605,473		1,285,428
3.000%, due 03/01/50		3,604,417		2,943,073
3.000%, due 07/01/50		593,429		478,485
3.000%, due 12/01/50		469,304		377,372
3.000%, due 02/01/51		1,976,685		1,590,430
3.000%, due 04/01/51		3,357,282		2,701,042
3.000%, due 05/01/51		3,520,173		2,831,850
3.000%, due 08/01/51		448,786		359,087
3.000%, due 10/01/51		186,594		150,040
3.000%, due 11/01/51		240,603		193,454
3.000%, due 12/01/51		434,265		349,165
3.000%, due 02/01/52		123,371		99,479
3.000%, due 03/01/52		986,716		793,256
3.000%, due 04/01/52		4,161,860		3,347,554
3.000%, due 07/01/52		482,188		387,082

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount		Value
U.S. government agency obligations—(continued)
3.000%, due 02/01/57	$	574,251	$	460,387
3.000%, due 05/01/58		603,642		483,169
3.500%, due 11/01/25		42,949		41,923
3.500%, due 08/01/26		163,715		159,808
3.500%, due 06/01/28		91,636		85,690
3.500%, due 08/01/29		15,629		14,959
3.500%, due 09/01/32		423,644		412,495
3.500%, due 11/01/33		44,583		41,416
3.500%, due 02/01/34		70,753		65,727
3.500%, due 01/01/35		131,827		121,477
3.500%, due 02/01/35		130,367		120,133
3.500%, due 04/01/35		127,180		116,847
3.500%, due 05/01/35		809,163		758,466
3.500%, due 03/01/42		179,239		155,563
3.500%, due 04/01/42		11,815		10,254
3.500%, due 07/01/42		311		270
3.500%, due 09/01/42		62,614		54,343
3.500%, due 12/01/42		725,506		629,803
3.500%, due 03/01/43		438,786		379,418
3.500%, due 05/01/43		1,882		1,628
3.500%, due 07/01/43		2,544,919		2,208,048
3.500%, due 08/01/43		6,004,238		5,210,850
3.500%, due 01/01/44		85,036		73,804
3.500%, due 06/01/45		1,334,980		1,140,690
3.500%, due 08/01/45		21,319		18,216
3.500%, due 10/01/45		8,024		6,917
3.500%, due 09/01/46		568,339		489,291
3.500%, due 02/01/47		1,580,718		1,366,803
3.500%, due 08/01/47		147,390		126,480
3.500%, due 09/01/47		202,353		173,942
3.500%, due 11/01/47		271,066		231,435
3.500%, due 12/01/47		266,354		227,503
3.500%, due 02/01/48		229,593		194,552
3.500%, due 03/01/48		852,938		722,761
3.500%, due 02/01/50		93,980		79,490
3.500%, due 03/01/50		4,123,744		3,458,389
3.500%, due 04/01/50		347,737		291,575
3.500%, due 02/01/52		488,824		407,973
3.500%, due 03/01/52		297,186		247,960
3.500%, due 08/01/52		1,711,272		1,427,820
3.500%, due 06/01/56		750,409		630,771
3.500%, due 01/01/57		675,531		564,933
3.500%, due 01/01/59		1,019,065		845,560
3.575%, due 02/01/26		500,000		477,385
4.000%, due 07/01/25		706		693
4.000%, due 09/01/25		473		464
4.000%, due 10/01/25		807		792
4.000%, due 11/01/25		1,766		1,729
4.000%, due 01/01/26		36,297		35,520
4.000%, due 02/01/26		80,297		78,560
4.000%, due 03/01/26		8,708		8,543
4.000%, due 04/01/26		179,913		176,644

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount		Value
U.S. government agency obligations—(continued)
4.000%, due 08/01/32	$	1,073	$	1,015
4.000%, due 06/01/33		38,778		36,643
4.000%, due 07/01/33		259,495		245,206
4.000%, due 08/01/33		784,502		741,585
4.000%, due 07/01/34		354,057		334,537
4.000%, due 07/01/35		721,559		684,533
4.000%, due 04/01/37		559,001		519,471
4.000%, due 03/01/38		428,179		398,417
4.000%, due 07/01/38		506,036		467,899
.000%, due 08/01/38		229,179		212,852
4.000%, due 09/01/38		277,977		257,028
4.000%, due 05/01/39		52,623		47,604
4.000%, due 09/01/39		136,930		123,875
4.000%, due 09/01/40		939,823		850,476
4.000%, due 12/01/40		742,405		671,908
4.000%, due 11/01/41		291,795		263,076
4.000%, due 12/01/41		376,743		339,663
4.000%, due 07/01/42		1,587,898		1,429,894
4.000%, due 09/01/42		2,398,558		2,157,162
4.000%, due 10/01/42		1,927,364		1,733,390
4.000%, due 08/01/44		100,742		90,830
4.000%, due 12/01/44		4,972		4,416
4.000%, due 06/01/45		10,264		9,094
4.000%, due 08/01/45		836,385		740,862
4.000%, due 02/01/47		72,103		63,721
4.000%, due 03/01/47		30,515		26,932
4.000%, due 04/01/47		110,490		97,554
4.000%, due 05/01/47		205,570		181,505
4.000%, due 06/01/47		5,242		4,625
4.000%, due 11/01/47		23,727		20,942
4.000%, due 01/01/48		95,596		84,371
4.000%, due 02/01/48		192,709		169,002
4.000%, due 03/01/48		105,003		92,196
4.000%, due 12/01/48		245,342		214,934
4.000%, due 06/01/49		747,969		657,928
4.490%, due 04/01/33		300,000		275,276
4.500%, due 06/01/29		7,266		6,999
4.500%, due 06/01/35		12,948		12,508
4.500%, due 12/01/38		142,668		133,868
4.500%, due 01/01/39		509		478
4.500%, due 02/01/39		57,990		54,294
4.500%, due 03/01/39		3,539		3,319
4.500%, due 06/01/39		22,863		21,442
4.500%, due 07/01/39		1,760		1,650
4.500%, due 08/01/39		60,756		56,499
4.500%, due 10/01/39		1,832		1,718
4.500%, due 12/01/39		137,398		128,852
4.500%, due 01/01/40		1,508		1,414
4.500%, due 02/01/40		1,504		1,411
4.500%, due 03/01/40		32,414		30,140
4.500%, due 08/01/40		24,032		22,346
4.500%, due 11/01/40		267,372		248,645

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount		Value
U.S. government agency obligations—(continued)
4.500%, due 07/01/41	$	168,256	$	156,277
4.500%, due 08/01/41		313,492		291,176
4.500%, due 01/01/42		823,703		765,927
4.500%, due 08/01/42		1,967		1,820
4.500%, due 09/01/42		103,006		93,823
4.500%, due 05/01/43		504,109		457,718
4.500%, due 06/01/43		1,133,763		1,029,176
4.500%, due 07/01/43		1,940,873		1,761,831
4.500%, due 09/01/43		135,766		125,163
4.500%, due 11/01/43		28,479		26,248
4.500%, due 07/01/44		123,345		113,634
4.500%, due 12/01/44		912		827
4.500%, due 09/01/48		151,880		138,334
4.500%, due 01/01/49		139,550		126,255
4.500%, due 07/01/52		2,999,829		2,680,444
4.500%, due 05/01/53		121,010		108,110
4.500%, due 07/01/53		177,189		158,294
4.500%, due 08/01/53		4,460,736		4,013,002
4.500%, due 04/01/59		700,274		640,556
4.700%, due 04/01/33		313,000		291,025
5.000%, due 03/01/25		1,660		1,641
5.000%, due 03/01/33		465		456
5.000%, due 05/01/37		3,434		3,332
5.000%, due 09/01/37		7,387		7,168
5.000%, due 06/01/38		32,986		31,886
5.000%, due 06/01/48		93,347		87,617
5.000%, due 07/01/48		35,653		33,464
5.000%, due 03/01/49		31,226		29,303
5.000%, due 06/01/53		809,877		749,438
5.000%, due 08/01/53		88,596		81,759
5.500%, due 11/01/32		20,195		20,136
5.500%, due 12/01/33		469		468
5.500%, due 04/01/34		11,184		11,170
5.500%, due 01/01/35		61,620		61,543
5.500%, due 05/01/37		70,156		69,570
5.500%, due 07/01/37		35,431		35,136
5.500%, due 06/01/38		55,261		54,666
5.500%, due 11/01/39		137,616		136,134
5.500%, due 07/01/40		161,200		159,463
5.500%, due 02/01/42		92,390		91,617
5.500%, due 08/01/53		498,903		473,845
5.610%, due 10/01/28		883,000		874,785
6.000%, due 12/01/32		4,138		4,195
6.000%, due 02/01/33		7,510		7,614
6.000%, due 09/01/34		44,105		44,586
6.000%, due 05/01/35		9,915		10,019
6.000%, due 06/01/35		5,494		5,552
6.000%, due 07/01/35		18,095		18,287
6.000%, due 09/01/35		698		705
6.000%, due 01/01/36		9,590		9,691
6.000%, due 06/01/36		190		193
6.000%, due 09/01/36		15,120		15,369

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount		Value
U.S. government agency obligations—(continued)
6.000%, due 12/01/36	$	53,788	$	54,674
6.000%, due 03/01/37		4,729		4,813
6.000%, due 10/01/37		17,093		17,394
6.000%, due 11/01/38		140,195		142,698
6.000%, due 05/01/39		17,383		17,693
6.000%, due 11/01/40		194,900		198,367
6.000%, due 05/01/49		327,599		319,253
6.500%, due 10/01/36		188,541		195,007
6.500%, due 02/01/37		2,629		2,720
6.500%, due 07/01/37		26,577		27,512
6.500%, due 08/01/37		12,114		12,540
6.500%, due 09/01/37		20,970		21,708
6.500%, due 12/01/37		38,256		39,602
6.500%, due 05/01/40		396,944		411,570
FNMA ARM
1 yr. CMT + 2.098%,
3.694%, due 05/01/301		11,677		11,359
1.790% + 1 year RFUCCT,
4.275%, due 02/01/421		64,444		64,279
1 yr. CMT + 2.504%,
4.629%, due 12/01/271		8,062		8,062
1 yr. CMT + 2.132%,
4.631%, due 09/01/411		96,030		96,248
1 yr. CMT + 2.284%,
4.830%, due 05/01/351		66,506		66,924
1.730% + 1 year RFUCCT,
5.240%, due 05/01/381		443,940		443,131
1 yr. CMT + 2.241%,
5.305%, due 01/01/361		149,053		149,856
1 yr. CMT + 2.237%,
5.603%, due 10/01/371		712,090		719,806
1 yr. MTA + 1.200%,
5.826%, due 03/01/441		64,776		63,411
1 yr. CMT + 2.095%,
6.095%, due 09/01/261		5		5
GNMA
3.000%, due 11/15/42		30,322		25,547
3.000%, due 02/15/43		386,433		325,574
3.000%, due 05/15/43		399,405		335,162
3.000%, due 06/15/43		125,354		105,453
3.000%, due 07/15/43		23,267		19,573
3.000%, due 01/15/45		263,017		220,318
3.000%, due 02/15/45		19,163		15,990
3.000%, due 07/15/45		367,688		306,816
3.000%, due 10/15/45		668,957		556,452
3.500%, due 11/15/42		269,758		232,570
3.500%, due 03/15/45		117,876		102,159
3.500%, due 04/15/45		111,932		95,891
4.000%, due 12/15/41		746,108		672,908
4.000%, due 01/15/47		36,782		32,756
4.000%, due 02/15/47		177,644		158,200

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount		Value
U.S. government agency obligations—(continued)
4.000%, due 04/15/47	$	333,498	$	296,982
4.000%, due 05/15/47		57,765		51,440
4.000%, due 06/15/47		43,749		38,958
4.000%, due 07/15/47		55,583		49,497
4.000%, due 08/15/47		87,878		78,256
4.000%, due 12/15/47		19,087		16,997
4.000%, due 07/15/49		31,597		28,124
4.500%, due 09/15/39		211,643		196,816
4.500%, due 06/15/40		104,898		97,544
4.500%, due 12/15/45		9,439		8,635
4.500%, due 08/15/46		7,922		7,251
4.500%, due 09/15/46		138,457		126,722
4.500%, due 10/15/46		175,167		160,320
4.500%, due 01/15/47		270,667		247,725
5.000%, due 12/15/34		9,155		9,023
5.000%, due 04/15/38		48,622		47,029
5.000%, due 12/15/39		3,842		3,709
5.000%, due 05/15/40		88,233		85,212
5.000%, due 05/15/41		31,432		30,300
5.500%, due 08/15/35		9,809		9,763
5.500%, due 02/15/38		891		887
5.500%, due 04/15/38		80,514		79,953
5.500%, due 05/15/38		79,256		78,682
5.500%, due 06/15/38		52,078		51,668
5.500%, due 10/15/38		228,820		227,366
5.500%, due 11/15/38		12,718		12,626
5.500%, due 12/15/38		2,681		2,664
5.500%, due 03/15/39		27,548		27,315
5.500%, due 05/15/39		20,547		20,401
5.500%, due 09/15/39		107,918		107,144
5.500%, due 01/15/40		3,620		3,591
5.500%, due 03/15/40		134,051		133,206
6.500%, due 02/15/29		123		124
6.500%, due 01/15/36		7,980		8,071
6.500%, due 09/15/36		72,239		73,880
6.500%, due 02/15/37		1,109		1,126
6.500%, due 04/15/37		4,471		4,602
6.500%, due 01/15/38		5,087		5,213
6.500%, due 06/15/38		12,237		12,563
6.500%, due 07/15/38		1,016		1,025
6.500%, due 11/15/38		2,066		2,149
GNMA II
2.500%, due 09/20/51		5,609,479		4,465,901
3.000%, due 01/20/43		438,682		370,261
3.000%, due 02/20/43		443,420		374,260
3.000%, due 11/20/43		90,381		76,271
3.000%, due 09/20/47		458,137		383,970
3.000%, due 02/20/48		282,525		236,788
3.000%, due 04/20/50		1,675,509		1,393,110
3.000%, due 10/20/51		163,035		134,566
3.000%, due 02/20/53		951,509		788,785
3.500%, due 04/20/45		3,621		3,139

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount		Value
U.S. government agency obligations—(continued)
3.500%, due 11/20/45	$	532,461	$	463,305
3.500%, due 12/20/45		214,749		186,994
3.500%, due 04/20/46		343,043		297,508
3.500%, due 05/20/46		356,782		306,713
3.500%, due 04/20/47		312,293		269,704
3.500%, due 07/20/47		2,282,780		1,977,856
3.500%, due 08/20/47		239,250		206,621
3.500%, due 09/20/47		88,960		76,828
3.500%, due 11/20/47		306,428		264,638
3.500%, due 12/20/47		82,928		71,619
3.500%, due 01/20/48		1,504,262		1,299,117
3.500%, due 02/20/48		1,175,946		1,015,537
3.500%, due 03/20/48		1,763,955		1,523,394
3.500%, due 09/20/48		494,503		427,064
3.500%, due 02/20/53		381,706		327,054
3.750%, due 05/20/30		318,114		303,473
4.000%, due 12/20/40		118,100		104,145
4.000%, due 07/20/41		43,334		38,973
4.000%, due 12/20/47		55,649		49,593
4.000%, due 01/20/48		142,718		127,187
4.000%, due 03/20/48		198,080		176,459
4.000%, due 04/20/48		428,789		381,226
4.000%, due 05/20/48		128,659		114,433
4.000%, due 06/20/48		151,262		134,697
4.000%, due 07/20/48		42,851		38,162
4.500%, due 07/20/40		17,754		16,506
4.500%, due 08/20/40		12,815		11,914
4.500%, due 09/20/40		53,352		49,602
4.500%, due 10/20/40		14,517		13,497
4.500%, due 01/20/41		68,795		63,958
4.500%, due 02/20/41		16,726		15,550
4.500%, due 03/20/41		103,164		95,906
4.500%, due 04/20/41		13,616		12,658
4.500%, due 06/20/41		117,520		109,252
4.500%, due 07/20/41		30,380		28,242
4.500%, due 09/20/41		3,024		2,811
4.500%, due 12/20/41		27,167		25,256
4.500%, due 05/20/43		6,446		5,993
4.500%, due 07/20/43		4,299		3,997
4.500%, due 10/20/44		54,456		49,303
4.500%, due 08/20/45		72,075		66,553
4.500%, due 04/20/48		20,457		18,783
4.500%, due 05/20/48		57,622		52,905
4.500%, due 06/20/48		141,749		129,725
4.500%, due 10/20/48		168,199		150,902
4.500%, due 01/20/49		136,621		125,032
4.500%, due 02/20/49		238,646		218,402
5.000%, due 12/20/33		71,427		68,746
5.000%, due 01/20/34		37,510		36,107
5.000%, due 02/20/38		48,435		46,732
5.000%, due 04/20/38		57,931		55,904
5.000%, due 08/20/41		7,695		7,426

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount		Value
U.S. government agency obligations—(continued)
5.000%, due 12/20/42	$	9,992	$	9,643
5.000%, due 08/20/43		817,631		789,079
5.000%, due 09/20/48		88,029		83,176
5.000%, due 10/20/48		131,185		123,953
5.000%, due 11/20/48		199,737		188,726
5.000%, due 12/20/48		182,441		172,383
5.500%, due 09/20/48		33,120		31,769
6.000%, due 10/20/38		1,229		1,252
6.500%, due 09/20/32		603		606
6.500%, due 12/20/38		4,583		4,755
9.000%, due 04/20/25		830		831
9.000%, due 12/20/26		909		916
9.000%, due 01/20/27		4,237		4,275
9.000%, due 09/20/30		736		748
9.000%, due 10/20/30		2,261		2,340
9.000%, due 11/20/30		2,752		2,799
GNMA II ARM
1 yr. CMT + 1.500%,
2.625%, due 08/20/251		1,825		1,783
1 yr. CMT + 1.500%,
2.625%, due 09/20/251		3,022		2,950
1 yr. CMT + 1.500%,
2.625%, due 08/20/261		4,123		3,999
1 yr. CMT + 1.500%,
2.625%, due 07/20/271		1,681		1,630
1 yr. CMT + 1.500%,
2.625%, due 07/20/301		10,750		10,409
1 yr. CMT + 1.500%,
3.000%, due 09/20/261		477		465
1 yr. CMT + 1.500%,
3.000%, due 08/20/271		5,591		5,428
1 yr. CMT + 1.500%,
3.000%, due 07/20/301		4,336		4,230
1 yr. CMT + 1.500%,
3.000%, due 08/20/301		19,058		18,549
1 yr. CMT + 1.500%,
3.500%, due 07/20/301		4,745		4,641
1 yr. CMT + 1.500%,
3.500%, due 08/20/301		1,038		1,014
1 yr. CMT + 1.500%,
3.500%, due 10/20/301		3,160		3,077
1 yr. CMT + 1.500%,
3.625%, due 01/20/241		541		538
1 yr. CMT + 1.500%,
3.625%, due 01/20/251		270		265
1 yr. CMT + 1.500%,
3.625%, due 02/20/251		645		634
1 yr. CMT + 1.500%,
3.625%, due 03/20/251		1,679		1,649

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount		Value
U.S. government agency obligations—(continued)
1 yr. CMT + 1.500%,
3.625%, due 03/20/261	$	1,684	$	1,643
1 yr. CMT + 1.500%,
3.625%, due 01/20/271		27,737		26,975
1 yr. CMT + 1.500%,
3.625%, due 02/20/271		1,735		1,687
1 yr. CMT + 1.500%,
3.625%, due 01/20/281		2,465		2,393
1 yr. CMT + 1.500%,
3.625%, due 02/20/281		1,078		1,046
1 yr. CMT + 1.500%,
3.875%, due 04/20/241		1,559		1,545
1 yr. CMT + 1.500%,
3.875%, due 04/20/261		17,197		16,777
1 yr. CMT + 1.500%,
3.875%, due 06/20/261		6,315		6,155
1 yr. CMT + 1.500%,
3.875%, due 04/20/271		4,605		4,476
1 yr. CMT + 1.500%,
3.875%, due 04/20/301		1,970		1,920
1 yr. CMT + 1.500%,
3.875%, due 05/20/301		21,126		20,618
1 yr. CMT + 1.500%,
4.000%, due 05/20/251		538		528
1 yr. CMT + 1.500%,
4.000%, due 04/20/271		857		834
1 yr. CMT + 1.500%,
4.000%, due 04/20/301		1,768		1,719
1 yr. CMT + 1.500%,
4.000%, due 05/20/301		82,451		80,630
1 yr. CMT + 1.500%,
4.500%, due 05/20/251		2,585		2,547
1 yr. CMT + 1.500%,
4.500%, due 06/20/251		2,870		2,826
GNMA II TBA
2.000%		6,700,000		5,164,166
3.000%		17,450,000		14,367,791
4.500%		9,860,000		8,901,953
5.000%		5,000,000		4,650,575
5.500%		500,000		477,885
4.000%		4,550,000		4,027,226
UMBS TBA
1.500%		3,000,000		2,081,805
2.000%		35,550,000		26,298,454
2.500%		16,150,000		12,392,589
3.000%		1,350,000		1,206,436
3.500%		1,500,000		1,369,629
4.500%		3,000,000		2,842,542
4.500%		14,600,000		13,040,691
5.000%		2,200,000		2,122,175
5.000%		25,400,000		23,414,685
5.500%		3,300,000		3,130,202
6.000%		11,900,000		11,574,464
6.500%		14,600,000		14,513,743
6.500%		5,000,000		4,966,755
Total U.S. government agency obligations (cost—$353,229,047)				323,021,074

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Number of shares		Value
Short-term investments—2.3%
Investment companies: 0.0%†
State Street Institutional U.S. Government Money Market Fund, 5.301%6 (cost $26,214)	$	26,214	$	26,214

	Face amount
Short-term U.S. Treasury obligations—2.3%
U.S. Treasury Bills
5.417% due 11/09/236,7		260,000	259,695
5.417% due 11/16/236,7		142,000	141,688
5.422% due 11/09/236,7		1,489,000	1,487,252
5.453% due 12/28/236,7		294,000	291,527
5.454% due 01/25/246		433,000	427,569
5.455% due 12/21/236,7		6,000	5,956
5.457% due 12/28/236,7		291,000	288,552
5.461% due 12/28/236,7		274,000	271,693
5.468% due 01/04/246,7		525,000	520,029
5.480% due 01/11/246,7		493,000	487,812
Total short-term U.S. Treasury obligations (cost—$4,181,773)			4,181,773
Total Short-term investments (cost—$4,207,987)			4,207,987

	Number of contracts		Notional amount
Options Purchased: 0.2%
Put swaptions: 0.2%
UMBS TBA strike @ 97.555, expires 11/06/23 (Counterparty: JPMCB)		4,500,000		438,975,000	118,283
UMBS TBA strike @ 94.625, expires 11/06/23 (Counterparty: BOA)		4,500,000		425,835,000	109,026
UMBS TBA strike @ 94.594, expires 11/06/23 (Counterparty: MSCI)		1,000,000		94,590,000	23,925
UMBS TBA strike @ 95.953, expires 11/06/23 (Counterparty: JPMCB)		4,500,000		431,775,000	49,651
UMBS TBA strike @ 95.953, expires 11/06/23 (Counterparty: JPMCB)		2,000,000		191,900,000	22,067
Total Options Purchased (cost—$101,777)					322,952
Swaptions Purchased: 1.2%
Call swaptions: 0.0%†
7 Year USD SOFR Interest Rate Swap strike @ 2.770, expires 12/21/23 (Counterparty: MSCI; pay floating rate); underlying swap terminates 12/26/30		7,300,000		7,300,000	110
7 Year USD SOFR Interest Rate Swap strike @ 2.800, expires 12/20/23 (Counterparty: BNP; pay floating rate); underlying swap terminates 12/22/30		700,000		700,000	11
7 Year USD SOFR Interest Rate Swap strike @ 2.800, expires 12/20/23 (Counterparty: BB; pay floating rate); underlying swap terminates 12/22/30		800,000		800,000	12
10 Year USD SOFR Interest Rate Swap strike @ 2.875, expires 01/03/24 (Counterparty: DB; pay floating rate); underlying swap terminates 01/05/34		100,000		100,000	2

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Number of contracts		Notional amount		Value
Swaptions Purchased—(continued)
Call swaptions—(continued)
10 Year USD SOFR Interest Rate Swap strike @ 2.040, expires 01/11/24 (Counterparty: DB; pay floating rate); underlying swap terminates 01/16/34		3,000,000		3,000,000	$	3
10 Year USD SOFR Interest Rate Swap strike @ 1.500, expires 01/24/24 (Counterparty: BOA; pay floating rate); underlying swap terminates 01/26/343		200,000		200,000		0
10 Year USD SOFR Interest Rate Swap strike @ 2.433, expires 02/27/24 (Counterparty: MSCI; pay floating rate); underlying swap terminates 02/28/34		1,300,000		1,300,000		79
7 Year USD SOFR Interest Rate Swap strike @ 3.210, expires 03/08/24 (Counterparty: BB; pay floating rate); underlying swap terminates 03/12/31		2,300,000		2,300,000		2,791
7 Year USD SOFR Interest Rate Swap strike @ 2.513, expires 04/05/24 (Counterparty: MSCI; pay floating rate); underlying swap terminates 04/09/31		2,200,000		2,200,000		803
7 Year USD SOFR Interest Rate Swap strike @ 2.670, expires 04/11/24 (Counterparty: MSCI; pay floating rate); underlying swap terminates 04/15/31		2,300,000		2,300,000		1,349
7 Year USD SOFR Interest Rate Swap strike @ 2.732, expires 04/24/24 (Counterparty: MSCI; pay floating rate); underlying swap terminates 04/26/31		1,600,000		1,600,000		1,317
Total call swaptions						6,477
Put swaptions: 1.2%
7 Year USD SOFR Interest Rate Swap strike @ 3.520, expires 12/21/23 (Counterparty: MSCI; pay floating rate); underlying swap terminates 12/26/30		7,300,000		7,300,000		426,899
7 Year USD SOFR Interest Rate Swap strike @ 3.550, expires 12/20/23 (Counterparty: BNP; pay floating rate); underlying swap terminates 12/22/30		2,200,000		2,200,000		125,139
7 Year USD SOFR Interest Rate Swap strike @ 3.550, expires 12/20/23 (Counterparty: BB; pay floating rate); underlying swap terminates 12/22/30		2,200,000		2,200,000		125,139
10 Year USD SOFR Interest Rate Swap strike @ 3.625, expires 01/03/24 (Counterparty: DB; pay floating rate); underlying swap terminates 01/05/34		100,000		100,000		7,211

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Number of contracts		Notional amount		Value
Swaptions Purchased—(continued)
Put swaptions—(continued)
10 Year USD SOFR Interest Rate Swap strike @ 4.040, expires 01/11/24 (Counterparty: DB; pay floating rate); underlying swap terminates 01/16/34		3,000,000		3,000,000	$	128,292
1 Year USD SOFR Interest Rate Swap strike @ 4.600, expires 01/31/24 (Counterparty: DB; pay floating rate); underlying swap terminates 02/02/25		16,000,000		16,000,000		103,893
1 Year USD SOFR Interest Rate Swap strike @ 4.100, expires 02/01/24 (Counterparty: DB; pay floating rate); underlying swap terminates 02/05/25		15,500,000		15,500,000		168,299
1 Year USD SOFR Interest Rate Swap strike @ 4.100, expires 02/01/24 (Counterparty: GSI; pay floating rate); underlying swap terminates 02/05/25		14,000,000		14,000,000		152,012
1 Year USD SOFR Interest Rate Swap strike @ 4.600, expires 02/02/24 (Counterparty: MSCI; pay floating rate); underlying swap terminates 02/06/25		27,500,000		27,500,000		177,116
7 Year USD SOFR Interest Rate Swap strike @ 3.710, expires 03/08/24 (Counterparty: BB; pay floating rate); underlying swap terminates 03/12/31		2,300,000		2,300,000		111,011
7 Year USD SOFR Interest Rate Swap strike @ 3.013, expires 04/05/24 (Counterparty: MSCI; pay floating rate); underlying swap terminates 04/09/31		2,200,000		2,200,000		187,458
7 Year USD SOFR Interest Rate Swap strike @ 3.170, expires 04/11/24 (Counterparty: MSCI; pay floating rate); underlying swap terminates 04/15/31		2,300,000		2,300,000		175,819
7 Year USD SOFR Interest Rate Swap strike @ 3.232, expires 04/24/24 (Counterparty: MSCI; pay floating rate); underlying swap terminates 04/26/31		1,600,000		1,600,000		116,937
1 Year USD SOFR Interest Rate Swap strike @ 5.000, expires 06/14/24 (Counterparty: MSCI; pay floating rate); underlying swap terminates 06/18/25		8,500,000		8,500,000		26,430
1 Year USD SOFR Interest Rate Swap strike @ 5.000, expires 12/16/24 (Counterparty: MSCI; pay floating rate); underlying swap terminates 06/18/25		4,300,000		4,300,000		12,733
1 Year USD SOFR Interest Rate Swap strike @ 5.500, expires 12/16/24 (Counterparty: DB; pay floating rate); underlying swap terminates 12/18/25		10,000,000		10,000,000		16,235

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Number of contracts		Notional amount		Value
Swaptions Purchased—(continued)
Put swaptions—(continued)
1 Year USD SOFR Interest Rate Swap strike @ 5.500, expires 01/21/25 (Counterparty: MSCI; pay floating rate); underlying swap terminates 01/23/26		16,400,000		16,400,000	$	27,417
10 Year USD SOFR Interest Rate Swap strike @ 5.500, expires 01/28/25 (Counterparty: DB; pay floating rate); underlying swap terminates 01/30/35		6,800,000		6,800,000		107,397
1 Year USD SOFR Interest Rate Swap strike @ 5.500, expires 02/21/24 (Counterparty: BB; pay floating rate); underlying swap terminates 02/23/25		16,800,000		16,800,000		15,663
1 Year USD SOFR Interest Rate Swap strike @ 5.250, expires 02/21/24 (Counterparty: BB; pay floating rate); underlying swap terminates 01/23/26		7,000,000		7,000,000		13,506
10 Year USD SOFR Interest Rate Swap strike @ 5.250, expires 08/19/24 (Counterparty: GSI; pay floating rate); underlying swap terminates 01/30/35		6,300,000		6,300,000		13,242
7 Year USD SOFR Interest Rate Swap strike @ 5.250, expires 03/03/25 (Counterparty: JPMCB; pay floating rate); underlying swap terminates 10/10/30		8,000,000		8,000,000		18,561
1 Year USD SOFR Interest Rate Swap strike @ 5.300, expires 03/13/25 (Counterparty: GSI; pay floating rate); underlying swap terminates 03/17/26		3,000,000		3,000,000		6,675
7 Year USD SOFR Interest Rate Swap strike @ 4.600, expires 11/06/23 (Counterparty: BB; pay floating rate); underlying swap terminates 11/08/30		4,000,000		4,000,000		10,141
7 Year USD SOFR Interest Rate Swap strike @ 4.600, expires 11/06/23 (Counterparty: DB; pay floating rate); underlying swap terminates 11/08/30		5,300,000		5,300,000		13,438
7 Year USD SOFR Interest Rate Swap strike @ 4.600, expires 11/06/23 (Counterparty: JPMCB; pay floating rate); underlying swap terminates 11/08/30		6,100,000		6,100,000		15,466
7 Year USD SOFR Interest Rate Swap strike @ 4.460, expires 11/06/23 (Counterparty: MSCI; pay floating rate); underlying swap terminates 11/08/30		1,500,000		1,500,000		9,831
Total put swaptions						2,311,960
Total swaptions purchased (cost—$1,188,020)						2,318,437
Total investments before investments sold short (cost—$407,486,832)—200.8%						373,263,059

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Number of shares			Value
Investments sold short: (34.0)%
U.S. government agency obligations: (34.0)%
GNMA II TBA
2.500%	$	(3,900,000	)	$	(3,102,364	)
3.500%		(1,400,000	)		(1,192,737	)
UMBS TBA
3.000%		(39,250,000	)		(31,393,210	)
3.500%		(5,850,000	)		(4,873,278	)
4.000%		(3,500,000	)		(3,263,134	)
4.000%		(11,500,000	)		(9,933,987	)
4.000%		(10,925,000	)		(9,441,003	)
Total U.S.government agency obligations (cost—(64,431,326))					(63,199,713	)
Total investments sold short (Proceeds—$(64,431,326))					(63,199,713	)
Total investments (cost—$343,055,506)—166.8%					310,063,346
Liabilities in excess of other assets—(66.8)%					(124,211,789	)
Net assets—100.0%				$	185,851,557

For a listing of defined portfolio acronyms that are used throughout the Portfolio of investments as well as the tables that follow, please refer to the Glossary of terms used in the Portfolio of investments.

	Face amount			Value
Reverse Repurchase Agreement: (14.1)%
Reverse repurchase agreement dated 10/12/23 with Wells Fargo, 5.300% to be repurchased 11/13/23 for $(26,400,498), collateralized by $23,270,267 Federal National Mortgage Association Obligation, 2.500% to 3.500% due 07/1/43 to 01/01/52, and $9,131,861 Government National Mortgage Association Obligation, 2.500% to 3.500% due 03/20/48 to 09/20/51; (value—$(32,402,129); proceeds: $(26,273,219)	$	(26,273,219	)		(26,273,219	)
(cost—$(26,273,219))					(26,273,219	)

Options written

Notional amount		Number of contracts	Call options	Counterparty	Expiration date	Premiums received		Current Value			Unrealized appreciation (depreciation)
USD	132,900,000	1,500,000	UMBS TBA, strike @ 88.602	MSCI	11/06/23	$	11,895	$	(694	)	$	11,201
USD	113,328,000	1,200,000	UMBS TBA, strike @ 94.438	BOA	11/06/23		6,421		(244	)		6,177
USD	349,465,000	3,700,000	UMBS TBA, strike @ 94.453	CITI	11/06/23		19,801		(731	)		19,070
USD	93,080,000	1,000,000	UMBS TBA, strike @ 93.078	CITI	11/06/23		9,688		(1,902	)		7,786
USD	44,565,000	500,000	UMBS TBA, strike @ 89.125	BOA	11/06/23		1,758		(102	)		1,656
USD	44,545,000	500,000	UMBS TBA, strike @ 89.094	BOA	11/06/23		1,758		(107	)		1,651

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited)

Notional amount		Number of contracts	Call options	Counterparty	Expiration date	Premiums received		Current Value			Unrealized appreciation (depreciation)
USD	93,880,000	1,000,000	UMBS TBA, strike @ 93.875	CITI	11/06/23	$	8,438	$	(565	)	$	7,873
USD	133,125,000	1,500,000	UMBS TBA, strike @ 88.750	CITI	11/06/23		2,812		(554	)		2,258
USD	130,575,000	1,500,000	UMBS TBA, strike @ 87.047	BOA	11/06/23		7,148		(5,014	)		2,134
USD	263,910,000	3,000,000	UMBS TBA, strike @ 87.969	CIT	12/06/23		15,937		(16,276	)		(339	)
Total						$	85,656	$	(26,189	)	$	59,467

Notional amount		Number of contracts	Put options	Counterparty	Expiration date	Premiums received		Current Value			Unrealized appreciation (depreciation)
USD	184,400,000	2,000,000	UMBS TBA, strike @ 92.203	JPMCB	11/06/23	$	14,453	$	(10,368	)	$	4,085
USD	138,630,000	1,500,000	UMBS TBA, strike @ 92.422	JPMCB	11/06/23		10,957		(9,442	)		1,515
USD	184,680,000	2,000,000	UMBS TBA, strike @ 92.344	CITI	11/06/23		14,531		(11,761	)		2,770
USD	86,470,000	1,000,000	UMBS TBA, strike @ 86.469	JPMCB	11/06/23		8,906		(6,206	)		2,700
USD	138,570,000	1,500,000	UMBS TBA, strike @ 92.375	CITI	11/06/23		10,898		(9,066	)		1,832
USD	314,685,000	3,500,000	UMBS TBA, strike @ 89.906	BOA	11/06/23		28,164		(28,966	)		(802	)
USD	127,125,000	1,500,000	UMBS TBA, strike @ 84.750	CITI	11/06/23		3,516		(1,905	)		1,611
USD	126,690,000	1,500,000	UMBS TBA, strike @ 84.461	CITI	11/06/23		4,571		(1,409	)		3,162
Total						$	95,996	$	(79,123	)	$	16,873
Total equity options written						$	181,652	$	(105,312	)	$	76,340

Swaptions written

Notional amount (000)		Number of contracts	Put Swaptions	Counterparty	Pay/ receive floating rate	Expiration date	Premiums received		Current value			Unrealized appreciation (depreciation)
USD	15,500	15,500,000	1 Year USD SOFR Interest Rate Swap	DB	Pay	02/01/24	$	17,050	$	(99,856	)	$	(82,806	)
USD	14,000	14,000,000	1 Year USD SOFR Interest Rate Swap	GSI	Pay	02/01/24		13,020		(90,192	)		(77,172	)
USD	3,700	3,700,000	7 Year USD SOFR Interest Rate Swap	JPMCB	Pay	11/06/23		26,122		(112,842	)		(86,720	)

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited)

Swaptions written

Notional amount (000)		Number of contracts	Put Swaptions	Counterparty	Pay/ receive floating rate	Expiration date	Premiums received		Current value			Unrealized appreciation (depreciation)
USD	4,000	4,000,000	7 Year USD SOFR Interest Rate Swap	BB	Pay	11/06/23	$	26,800	$	(82,675	)	$	(55,875	)
USD	1,000	1,000,000	7 Year USD SOFR Interest Rate Swap	BB	Pay	11/06/23		6,650		(19,981	)		(13,331	)
USD	4,300	4,300,000	7 Year USD SOFR Interest Rate Swap	MSCI	Pay	11/06/23		33,110		(49,124	)		(16,014	)
USD	2,000	2,000,000	7 Year USD SOFR Interest Rate Swap	JPMCB	Pay	11/06/23		7,100		(15,190	)		(8,090	)
Total							$	129,852	$	(469,860	)	$	(340,008	)

Futures contracts

Number of contracts	Currency		Expiration date	Current notional amount			Value			Unrealized appreciation (depreciation)
Interest rate futures buy contracts:
74	USD	3 Month SOFR Futures	December 2023	$	17,557,464		$	17,510,250		$	(47,214	)
381	USD	3 Month SOFR Futures	June 2024		90,473,738			90,130,312			(343,426	)
U.S. Treasury futures buy contracts:
148	USD	U.S. Treasury Note 10 Year Futures	December 2023		16,295,241			15,713,437			(581,804	)
1	USD	U.S. Treasury Note 5 Year Futures	December 2023		106,283			104,477			(1,806	)
Total				$	124,432,726		$	123,458,476		$	(974,250	)
Interest rate futures sell contracts:
37	USD	3 Month SOFR Futures	March 2024	$	(8,807,932	)	$	(8,746,800	)	$	61,132
210	USD	3 Month SOFR Futures	December 2024		(49,920,674	)		(49,919,625	)		1,049
208	USD	3 Month SOFR Futures	September 2024		(49,605,113	)		(49,309,000	)		296,113
U.S. Treasury futures sell contracts:
15	USD	U.S. Treasury Note 2 Year Futures	December 2023		(3,034,729	)		(3,036,328	)		(1,599	)
Total				$	(111,368,448	)	$	(111,011,753	)	$	356,695
Net unrealized appreciation (depreciation)										$	(617,555	)

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited)

Centrally cleared interest rate swap agreements

Notional amount (000)		Maturity date	Payment frequency	Payments made by the portfolio8	Payments received by the portfolio8	Value			Unrealized appreciation (depreciation)
USD	3,400	04/17/25	Annual	3.750%	12 Month SOFR	$	(95,384	)	$	(95,384	)
USD	3,400	04/18/25	Annual	3.750	12 Month SOFR		(95,350	)		(95,350	)
USD	6,600	04/24/25	Annual	4.000	12 Month SOFR		(132,492	)		(132,492	)
USD	3,600	04/25/25	Annual	4.000	12 Month SOFR		(83,303	)		(83,303	)
USD	18,600	06/21/25	Annual	12 Month SOFR	3.750%		461,460			320,335
USD	1,700	06/21/26	Annual	12 Month SOFR	3.500		54,188			54,426
USD	3,000	12/21/27	Annual	12 Month SOFR	2.000		305,285			130,945
USD	17,500	06/15/29	Annual	1.750	12 Month SOFR		(2,464,126	)		(1,405,645	)
USD	2,300	11/09/29	Annual	12 Month SOFR	3.205		192,967			192,967
USD	2,300	11/09/29	Annual	12 Month SOFR	3.218		191,182			191,182
USD	2,400	11/09/29	Annual	12 Month SOFR	3.217		199,569			199,569
USD	1,300	12/21/29	Annual	12 Month SOFR	2.000		206,065			105,992
USD	1,400	03/08/30	Annual	12 Month SOFR	3.513		91,044			91,044
USD	1,400	03/08/30	Annual	12 Month SOFR	3.513		91,087			91,087
USD	500	03/08/30	Annual	12 Month SOFR	3.635		28,783			28,783
USD	2,900	04/10/30	Annual	3.560	12 Month SOFR		(179,083	)		(179,083	)
USD	2,900	05/08/30	Annual	3.560	12 Month SOFR		(177,806	)		(177,806	)
USD	400	05/08/30	Annual	3.550	12 Month SOFR		(24,859	)		(24,859	)
USD	6,400	06/21/30	Annual	12 Month SOFR	3.000		561,073			480,061
USD	350	07/10/30	Annual	3.740	12 Month SOFR		(17,143	)		(17,143	)
USD	2,200	10/06/30	Annual	4.123	12 Month SOFR		(52,044	)		(52,044	)
USD	4,900	10/10/30	Annual	12 Month SOFR	4.185		97,047			97,047
USD	1,300	10/10/30	Annual	4.145	12 Month SOFR		(28,846	)		(28,846	)
USD	3,000	10/10/30	Annual	4.135	12 Month SOFR		(68,356	)		(68,356	)
USD	3,200	10/10/30	Annual	4.118	12 Month SOFR		(76,251	)		(76,251	)
USD	3,900	10/10/30	Annual	4.155	12 Month SOFR		(84,215	)		(84,215	)

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited)

Notional amount (000)		Maturity date	Payment frequency	Payments made by the portfolio8	Payments received by the portfolio8	Value			Unrealized appreciation (depreciation)
USD	500	10/10/30	Annual	4.320%	12 Month SOFR	$	(5,880	)	$	(5,880	)
USD	7,000	12/20/30	Annual	12 Month SOFR	3.500%		406,084			398,489
USD	1,400	06/08/32	Annual	12 Month SOFR	2.451		219,397			219,397
USD	7,100	06/15/32	Annual	12 Month SOFR	1.750		1,418,438			569,199
USD	500	06/15/32	Annual	12 Month SOFR	1.750		104,383			72,438
USD	4,000	06/15/32	Annual	12 Month SOFR	2.550		595,620			595,620
USD	17,400	07/08/32	Annual	12 Month SOFR	2.313		2,884,918			2,884,918
USD	2,300	09/16/32	Annual	12 Month SOFR	2.998		258,754			258,754
USD	5,500	10/06/32	Annual	12 Month SOFR	3.275		503,096			503,096
USD	7,700	11/09/32	Annual	12 Month SOFR	3.275		813,905			813,905
USD	8,000	11/28/32	Annual	12 Month SOFR	3.368		785,925			785,925
USD	600	12/21/32	Annual	12 Month SOFR	2.000		126,939			59,641
USD	1,400	03/08/33	Annual	12 Month SOFR	3.453		127,449			127,449
USD	3,100	03/08/33	Annual	12 Month SOFR	3.505		268,833			268,833
USD	1,000	03/08/33	Annual	3.510	12 Month SOFR		(86,309	)		(86,309	)
USD	700	06/08/33	Annual	12 Month SOFR	3.260		73,481			73,481
USD	28,075	06/21/33	Annual	3.000	12 Month SOFR		(3,351,394	)		(2,354,194	)
USD	5,600	12/20/33	Annual	3.500	12 Month SOFR		(443,160	)		(267,057	)
USD	3,200	12/20/53	Annual	12 Month SOFR	3.500		542,662			346,537
USD	27,000	03/03/25	Quarterly	3 Month SOFR	1.350		1,614,262			1,614,262
USD	8,900	05/04/25	Quarterly	3 Month SOFR	1.500		592,589			592,589
Total						$	6,350,484		$	6,933,754

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited)

Fair valuation summary

The following is a summary of the fair valuations according to the inputs used as of October 31, 2023 in valuing the Portfolio's investments. In the event a Portfolio holds investments for which fair value is measured using the NAV per share practical expedient (or its equivalent), a separate column will be added to the fair value hierarchy table; this is intended to permit reconciliation to the amounts presented in the Portfolio of investments:

Description	Unadjusted quoted prices in active market for identical investments (Level 1)			Other significant observable inputs (Level 2)			Unobservable inputs (Level 3)		Total
Assets
Asset-backed securities	$	—		$	14,135,970		$	124,365	$	14,260,335
Mortgage-backed securities		—			29,132,274			—		29,132,274
U.S. government agency obligations		—			323,021,074			—		323,021,074
Investment companies		—			26,214			—		26,214
Short-term U.S. Treasury obligations		—			4,181,773			—		4,181,773
Options purchased		—			322,952			—		322,952
Swaptions Purchased		—			2,318,437			—		2,318,437
Futures contracts		358,294			—			—		358,294
Swap agreements		—			13,816,485			—		13,816,485
Total	$	358,294		$	386,955,179		$	124,365	$	387,437,838
Liabilities
Investments sold short
U.S. government agency obligations	$	—		$	(63,199,713	)	$	—	$	(63,199,713	)
Reverse Repurchase Agreement		—			(26,273,219	)		—		(26,273,219	)
Options written		—			(105,312	)		—		(105,312	)
Swaptions written		—			(469,860	)		—		(469,860	)
Futures contracts		(975,849	)		—			—		(975,849	)
Swap agreements		—			(7,466,001	)		—		(7,466,001	)
Total	$	(975,849	)	$	(97,514,105	)	$	—	$	(98,489,954	)

At October 31, 2023, there were no transfers in or out of Level 3.

Securities valued using unobservable inputs, i.e. Level 3, were not considered significant to the Portfolio.

Portfolio footnotes

† Amount represents less than 0.05% or (0.05)%.

1	Floating or variable rate securities. The rates disclosed are as of October 31, 2023. For securities based on a published reference rate and spread, the reference rate and spread are indicated within the description. Variable rate securities with a floor or ceiling feature are disclosed at the inherent rate, where applicable. Certain variable rate securities are not based on a published reference rate and spread, but are determined by the issuer or agent and are based on current market conditions; these securities do not indicate a reference rate and spread in the description.
2	Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933. These securities are considered liquid, unless noted otherwise, and may be resold in transactions exempt from registrations, normally to qualified institutional buyers. Securities exempt from registration pursuant to Rule 144A, in the amount of $17,786,373, represented 9.6% of the Fund's net assets at period end.
3	Security fair valued by the Valuation Committee under the direction of the Board of Trustees.
4	Significant unobservable inputs were used in the valuation of this security; i.e. Level 3.
5	Zero coupon bond.
6	Rates shown reflect yield at October 31, 2023.
7	Security, or portion thereof, pledged as collateral for investments sold short, written options, futures and/or swap agreements.
8	Payments made or received are based on the notional amount.

PACE Intermediate Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount		Value
Asset-backed securities—24.4%
Adams Outdoor Advertising LP,
Series 2023-1, Class A2,
6.967%, due 07/15/531	$	760,000	$	741,298
Aligned Data Centers Issuer LLC,
Series 2022-1A, Class A2,
6.350%, due 10/15/471		2,300,000		2,228,309
American Homes 4 Rent Trust,
Series 2014-SFR3, Class A,
3.678%, due 12/17/361		421,219		409,300
Antares CLO Ltd.,
Series 2019-1A, Class BR,
3 mo. USD SOFR + 3.350%,
1.000%, due 01/20/361,2		1,730,000		1,730,000
Avis Budget Rental Car Funding
AESOP LLC,
Series 2023-4A, Class A,
5.490%, due 06/20/291		1,620,000		1,561,043
BHG Securitization Trust,
Series 2022-C, Class B,
5.930%, due 10/17/351		1,750,000		1,700,138
CarMax Auto Owner Trust,
Series 2022-2, Class A2A,
2.810%, due 05/15/25		36,523		36,453
CARS-DB7 LP,
Series 2023-1A, Class A2,
6.500%, due 09/15/531		899,063		876,867
CLI Funding VIII LLC,
Series 2023-1A, Class A,
6.310%, due 06/18/481		966,178		949,927
College Avenue Student Loans LLC,
Series 2021-A, Class A1,
1 mo. USD Term SOFR + 1.214%,
6.539%, due 07/25/511,2		52,553		52,029
Series 2021-B, Class A2,
1.760%, due 06/25/521		65,741		55,777
Series 2021-C, Class A1,
1 mo. USD Term SOFR + 1.014%,
6.339%, due 07/26/551,2		201,761		195,920
Series 2021-C, Class B,
2.720%, due 07/26/551		100,000		85,645
Series 2021-C, Class A2,
2.320%, due 07/26/551		101,634		86,850

PACE Intermediate Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount		Value
Asset-backed securities—(continued)
Credit Acceptance Auto Loan Trust,
Series 2021-2A, Class A,
0.960%, due 02/15/301	$	146,026	$	144,550
Series 2021-3A, Class A,
1.000%, due 05/15/301		164,393		161,411
Series 2021-4, Class A,
1.260%, due 10/15/301		395,000		384,471
Series 2022-1A, Class A,
4.600%, due 06/15/321		495,000		485,006
Series 2022-3A, Class C,
8.450%, due 02/15/331		2,300,000		2,326,790
Credit Suisse Seasoned Loan Trust,
Series 2006-1, Class A,
1 mo. USD Term SOFR + 0.594%,
5.919%, due 10/25/341,2		1,673		1,671
DataBank Issuer,
Series 2023-1A, Class A2,
5.116%, due 02/25/531		995,000		898,105
EDvestinU Private Education Loan Issue No. 3 LLC,
Series 2021-A, Class A,
1.800%, due 11/25/451		60,620		52,005
FREED ABS Trust,
Series 2022-4FP, Class B,
7.580%, due 12/18/291		1,635,521		1,640,111
Golub Capital Partners ABS Funding Ltd.,
Series 2022-1A, Class A2B,
6.580%, due 07/22/301		1,910,000		1,757,342
GoodLeap Sustainable Home Solutions Trust,
Series 2021-4GS, Class A,
1.930%, due 07/20/481		176,120		123,923
Series 2021-5CS, Class A,
2.310%, due 10/20/481		98,757		72,864
Series 2022-3CS, Class A,
4.950%, due 07/20/491		206,428		181,800
Lendmark Funding Trust,
Series 2021-1A, Class A,
1.900%, due 11/20/311		210,000		181,527
Mariner Finance Issuance Trust,
Series 2021-AA, Class A,
1.860%, due 03/20/361		180,000		159,135
Series 2022-AA, Class B,
7.200%, due 10/20/371		1,830,000		1,820,231
MCF CLO Ltd.,
Series 2023-1A, Class C,
3 mo. USD Term SOFR + 4.200%,
9.032%, due 04/15/351,2		630,000		631,711
Monroe Capital ABS Funding II Ltd.,
Series 2023-1A, Class A1,
6.650%, due 04/22/331		1,700,000		1,689,356

PACE Intermediate Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount		Value
Asset-backed securities—(continued)
Mosaic Solar Loan Trust,
Series 2022-1A, Class A,
2.640%, due 01/20/531	$	163,231	$	134,312
Mosaic Solar Loans LLC,
Series 2017-2A, Class C,
2.000%, due 06/22/431		20,536		20,063
Navient Private Education Refi Loan Trust,
Series 2019-D, Class A2B,
1 mo. USD Term SOFR + 1.164%,
6.499%, due 12/15/591,2		128,460		127,500
Series 2020-IA, Class B,
2.950%, due 04/15/691		100,000		77,509
Series 2021-A, Class A,
0.840%, due 05/15/691		54,434		46,646
Series 2021-DA, Class A,
U.S. (Fed) Prime Rate -1.990%,
6.510%, due 04/15/601,2		260,281		249,406
Navient Student Loan Trust,
Series 2018-EA, Class A2,
4.000%, due 12/15/591		19,890		19,318
Nelnet Student Loan Trust,
Series 2021-A, Class APT2,
1.360%, due 04/20/621		395,294		348,482
Series 2021-BA, Class AFL,
1 mo. USD Term SOFR + 0.894%,
6.234%, due 04/20/621,2		561,325		551,664
Series 2021-CA, Class AFL,
1 mo. USD Term SOFR + 0.854%,
6.194%, due 04/20/621,2		352,258		345,804
New Economy Assets Phase 1 Sponsor LLC,
Series 2021-1, Class A1,
1.910%, due 10/20/611		1,150,000		983,413
NextGear Floorplan Master Owner Trust,
Series 2023-1A, Class A2,
5.740%, due 03/15/281		1,740,000		1,732,596
NFAS2 LLC,
Series 2022-1, Class B,
7.590%, due 09/15/281		1,090,000		1,061,755
NMEF Funding LLC,
Series 2022-B, Class A2,
6.070%, due 06/15/291		1,980,610		1,971,205
OneMain Financial Issuance Trust,
Series 2022-3A, Class A,
5.940%, due 05/15/341		1,610,000		1,594,995

PACE Intermediate Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount		Value
Asset-backed securities—(continued)
Oportun Issuance Trust,
Series 2022-3, Class B,
8.533%, due 01/08/301	$	2,290,000	$	2,292,832
Oxford Finance Funding Trust,
Series 2023-1A, Class B,
7.879%, due 02/15/311		1,970,000		1,918,139
Prodigy Finance DAC,
Series 2021-1A, Class A,
1 mo. USD Term SOFR + 1.364%,
6.689%, due 07/25/511,2		131,394		130,091
Regional Management Issuance Trust,
Series 2021-2, Class A,
1.900%, due 08/15/331		245,000		208,635
Series 2022-2B, Class B,
8.510%, due 11/17/321		2,360,000		2,377,281
Retained Vantage Data Centers Issuer LLC,
Series 2023-1A, Class A2A,
5.000%, due 09/15/481		1,370,000		1,232,401
Santander Drive Auto Receivables Trust,
Series 2022-7, Class C,
6.690%, due 03/17/31		2,200,000		2,205,189
Sesac Finance LLC,
Series 2019-1, Class A2,
5.216%, due 07/25/491		114,900		108,455
SLM Private Education Loan Trust,
Series 2010-C, Class A5,
1 mo. USD Term SOFR + 4.864%,
10.199%, due 10/15/411,2		346,986		364,169
SMB Private Education Loan Trust,
Series 2017-B, Class A2B,
1 mo. USD Term SOFR + 0.864%,
6.199%, due 10/15/351,2		56,021		55,564
Series 2018-A, Class A2B,
1 mo. USD Term SOFR + 0.914%,
6.249%, due 02/15/361,2		210,385		208,546
Series 2018-C, Class A2B,
1 mo. USD Term SOFR + 0.864%,
6.199%, due 11/15/351,2		280,202		277,347
Series 2021-A, Class A2A1,
1 mo. USD Term SOFR + 0.844%,
6.179%, due 01/15/531,2		452,644		443,364
Series 2021-A, Class B,
2.310%, due 01/15/531		100,000		91,233
Series 2021-C, Class APT1,
1.390%, due 01/15/531		143,035		121,653
SoFi Professional Loan Program LLC,
Series 2018-A, Class A2B,
2.950%, due 02/25/421		42,925		41,535
Series 2020-C, Class AFX,
1.950%, due 02/15/461		84,106		75,311

PACE Intermediate Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount		Value
Asset-backed securities—(continued)
Stack Infrastructure Issuer LLC,
Series 2023-1A, Class A2,
5.900%, due 03/25/481	$	740,000	$	698,683
Store Master Funding I-VII XIV XIX XX,
Series 2021-1A, Class A1,
2.120%, due 06/20/511		1,008,100		825,988
TierPoint Issuer LLC,
Series 2023-1A, Class A2,
6.000%, due 06/25/531		790,000		752,879
Vantage Data Centers Issuer LLC,
Series 2023-1A, Class A2,
6.316%, due 03/16/481		1,070,000		1,029,075
Willis Engine Structured Trust VII,
Series 2023-A, Class A,
8.000%, due 10/15/481		610,000		604,697
Total asset-backed securities (cost—$49,680,788)				48,749,300
Corporate bonds—50.4%
Aerospace & defense: 1.1%
Boeing Co.
3.250%, due 02/01/28		1,600,000		1,429,874
Spirit AeroSystems, Inc.
9.375%, due 11/30/291		728,000		747,606
				2,177,480
Agriculture: 0.4%
Cargill, Inc.
5.125%, due 10/11/321		810,000		766,119
Airlines: 0.2%
Air Canada Pass-Through Trust
Series 2017-1, Class AA,
3.300%, due 01/15/301		41,664		36,017
American Airlines Pass-Through Trust
Series 2016-3, Class AA,
3.000%, due 10/15/28		86,719		75,987
Series 2016-1, Class AA,
3.575%, due 01/15/28		46,682		42,540
Series 2017-1, Class AA,
3.650%, due 02/15/29		28,136		25,171
Delta Air Lines Pass-Through Trust
Series 2020-1, Class AA,
2.000%, due 06/10/28		53,340		46,036
Series 2019-1, Class AA,
3.204%, due 04/25/24		101,000		99,279
United Airlines Pass-Through Trust
Series 2019-2, Class AA,
2.700%, due 05/01/32		42,950		34,849
Series 2015-1, Class AA,
3.450%, due 12/01/27		31,092		28,259
Series 2018-1, Class AA,
3.500%, due 03/01/30		15,191		13,433
Series 2019-1, Class AA,
4.150%, due 08/25/31		54,522		48,268
				449,839

PACE Intermediate Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount		Value
Corporate bonds—(continued)
Banks: 15.1%
ASB Bank Ltd.
(fixed, converts to FRN on 06/17/27),
5.284%, due 06/17/321,2	$	1,500,000	$	1,417,865
5.398%, due 11/29/271		1,260,000		1,227,080
Bank of America Corp.
(fixed, converts to FRN on 01/20/27),
3.824%, due 01/20/282		840,000		775,209
Bank of New York Mellon Corp.
(fixed, converts to FRN on 02/07/27),
3.442%, due 02/07/282		1,400,000		1,291,166
Bank of New Zealand
4.846%, due 02/07/281		1,075,000		1,027,954
Canadian Imperial Bank of Commerce
3.450%, due 04/07/27		1,400,000		1,280,732
Citigroup, Inc.
(fixed, converts to FRN on 06/03/30),
2.572%, due 06/03/312		1,198,000		938,099
(fixed, converts to FRN on 03/31/30),
4.412%, due 03/31/312		1,310,000		1,158,963
Comerica Bank
4.000%, due 07/27/253		800,000		731,807
(fixed, converts to FRN on 08/25/32),
5.332%, due 08/25/332		1,280,000		991,218
Fifth Third Bancorp
(fixed, converts to FRN on 07/28/29),
4.772%, due 07/28/302		25,000		22,156
(fixed, converts to FRN on 10/27/27),
6.361%, due 10/27/282		1,885,000		1,834,653
HSBC Holdings PLC
(fixed, converts to FRN on 06/04/30),
2.848%, due 06/04/312		1,800,000		1,412,522
(fixed, converts to FRN on 11/03/27),
7.390%, due 11/03/282		905,000		928,349
Huntington Bancshares, Inc.
(fixed, converts to FRN on 08/04/27),
4.443%, due 08/04/282		647,000		590,944
Huntington National Bank
5.650%, due 01/10/30		1,240,000		1,136,044
ING Groep NV
(fixed, converts to FRN on 03/28/25),
3.869%, due 03/28/262		1,400,000		1,349,695
JPMorgan Chase & Co.
(fixed, converts to FRN on 02/01/27),
3.782%, due 02/01/282		793,000		735,747
KeyBank NA
5.850%, due 11/15/27		1,080,000		1,000,193

PACE Intermediate Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount		Value
Corporate bonds—(continued)
Banks—(continued)
Lloyds Banking Group PLC
(fixed, converts to FRN on 03/18/27),
3.750%, due 03/18/282	$	1,420,000	$	1,294,184
(fixed, converts to FRN on 11/15/32),
7.953%, due 11/15/332		610,000		618,542
Morgan Stanley
(fixed, converts to FRN on 10/18/32),
6.342%, due 10/18/332		885,000		867,635
NatWest Group PLC
(fixed, converts to FRN on 11/10/25),
7.472%, due 11/10/262		1,030,000		1,048,113
Santander Holdings USA, Inc.
(fixed, converts to FRN on 09/09/25),
5.807%, due 09/09/262		855,000		837,260
(fixed, converts to FRN on 03/09/28),
6.499%, due 03/09/292		755,000		730,217
State Street Corp.
(fixed, converts to FRN on 11/04/27),
5.820%, due 11/04/282		555,000		548,586
Svenska Handelsbanken AB
3.950%, due 06/10/271		1,400,000		1,306,662
Truist Financial Corp.
(fixed, converts to FRN on 06/06/27),
4.123%, due 06/06/282		1,370,000		1,246,422
(fixed, converts to FRN on 10/28/32),
6.123%, due 10/28/332		580,000		537,052
Wells Fargo & Co.
(fixed, converts to FRN on 03/02/32),
3.350%, due 03/02/332		1,525,000		1,200,734
				30,085,803
Commercial services: 0.7%
Ashtead Capital, Inc.
5.500%, due 08/11/321		1,500,000		1,342,139
Diversified financial services: 2.6%
Avolon Holdings Funding Ltd.
5.500%, due 01/15/261		1,000,000		962,850
Brightsphere Investment Group, Inc.
4.800%, due 07/27/26		585,000		529,425
Capital One Financial Corp.
(fixed, converts to FRN on 05/10/27),
4.927%, due 05/10/282		1,400,000		1,295,145
(fixed, converts to FRN on 05/10/32),
5.268%, due 05/10/332		164,000		140,271
Credit Acceptance Corp.
6.625%, due 03/15/263		1,150,000		1,091,926
Oxford Finance LLC/Oxford Finance Co.-Issuer II, Inc.
6.375%, due 02/01/271		1,250,000		1,139,062
				5,158,679
Electric: 3.1%
Alexander Funding Trust II
7.467%, due 07/31/281		1,145,000		1,136,771
Atlantica Sustainable Infrastructure PLC
4.125%, due 06/15/281		1,110,000		958,563

PACE Intermediate Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount		Value
Corporate bonds—(continued)
Electric—(continued)
Duke Energy Florida LLC
5.950%, due 11/15/52	$	880,000	$	814,363
Duke Energy Ohio, Inc.
5.650%, due 04/01/53		590,000		523,160
Edison International
Series A,
(fixed, converts to FRN on 03/15/26),
5.375%, due 03/15/262,4		1,360,000		1,218,794
MidAmerican Energy Co.
3.650%, due 04/15/29		204,000		183,927
Nevada Power Co.
Series GG,
5.900%, due 05/01/53		935,000		850,865
Southern California Edison Co.
5.950%, due 11/01/32		585,000		571,312
				6,257,755
Energy-Alternate Sources: 0.5%
NextEra Energy Partners LP
2.500%, due 06/15/261		1,180,000		1,024,671
Healthcare-services: 0.9%
CommonSpirit Health
6.073%, due 11/01/27		965,000		962,318
Sutter Health
Series 20A,
2.294%, due 08/15/30		20,000		15,793
5.164%, due 08/15/33		890,000		830,778
				1,808,889
Housewares: 0.5%
Newell Brands, Inc.
6.375%, due 09/15/273		995,000		931,831
Insurance: 11.4%
Athene Global Funding
2.550%, due 06/29/251		1,600,000		1,489,583
Athene Holding Ltd.
6.650%, due 02/01/33		1,175,000		1,132,320
Corebridge Financial, Inc.
(fixed, converts to FRN on 12/15/27),
6.875%, due 12/15/522		1,280,000		1,182,544
Enstar Finance LLC
(fixed, converts to FRN on 01/15/27),
5.500%, due 01/15/422		1,500,000		1,195,629
Enstar Group Ltd.
4.950%, due 06/01/29		1,400,000		1,274,532
F&G Annuities & Life, Inc.
7.400%, due 01/13/28		2,110,000		2,084,474
Fairfax Financial Holdings Ltd.
5.625%, due 08/16/32		1,400,000		1,293,504
First American Financial Corp.
2.400%, due 08/15/31		1,240,000		895,662
Global Atlantic Fin Co.
7.950%, due 06/15/331		1,065,000		990,592
Intact Financial Corp.
5.459%, due 09/22/321		915,000		847,394
Metropolitan Life Global Funding I
4.300%, due 08/25/291		1,690,000		1,552,190
Protective Life Global Funding
3.218%, due 03/28/251		1,400,000		1,346,418

PACE Intermediate Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount		Value
Corporate bonds—(continued)
Insurance—(continued)
Reinsurance Group of America, Inc.
6.000%, due 09/15/33	$	1,125,000	$	1,058,143
RenaissanceRe Holdings Ltd.
3.600%, due 04/15/29		1,440,000		1,255,510
5.750%, due 06/05/33		1,645,000		1,513,341
Stewart Information Services Corp.
3.600%, due 11/15/31		1,700,000		1,210,187
Swiss Re Finance Luxembourg SA
(fixed, converts to FRN on 04/02/29),
5.000%, due 04/02/491,2		2,600,000		2,424,500
				22,746,523
Investment companies: 0.4%
Blackstone Private Credit Fund
3.250%, due 03/15/27		209,000		180,282
Blue Owl Credit Income Corp.
7.750%, due 09/16/27		710,000		699,095
				879,377
Machinery-diversified: 0.3%
CNH Industrial Capital LLC
5.500%, due 01/12/29		645,000		625,192
Media: 0.5%
CCO Holdings LLC/CCO Holdings Capital Corp.
7.375%, due 03/01/311		1,005,000		949,746
Mining: 0.3%
Glencore Funding LLC
6.125%, due 10/06/281		635,000		629,501
Packaging & containers: 0.4%
Amcor Finance USA, Inc.
5.625%, due 05/26/33		735,000		684,543
Pharmaceuticals: 0.8%
Bristol-Myers Squibb Co.
5.750%, due 02/01/31		1,010,000		1,003,868
Teva Pharmaceutical Finance Netherlands III BV
7.875%, due 09/15/29		559,000		548,239
				1,552,107
Pipelines: 2.8%
Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp.
7.375%, due 02/01/311		1,160,000		1,169,292
Energy Transfer LP
Series A,
3 mo. USD LIBOR + 4.028%,
9.654%, due 11/16/232,4		2,420,000		2,280,451
EnLink Midstream LLC
6.500%, due 09/01/301		1,115,000		1,070,254
Harvest Midstream I LP
7.500%, due 09/01/281		1,205,000		1,141,801
				5,661,798
Real estate investment trusts: 5.9%
Arbor Realty SR, Inc.
Series QIB,
8.500%, due 10/15/271		1,790,000		1,691,278
Blackstone Mortgage Trust, Inc.
3.750%, due 01/15/271,3		2,635,000		2,191,096

PACE Intermediate Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount		Value
Corporate bonds—(continued)
Real estate investment trusts—(continued)
Extra Space Storage LP
5.500%, due 07/01/30	$	1,055,000	$	997,906
5.700%, due 04/01/28		460,000		448,261
Federal Realty OP LP
5.375%, due 05/01/28		905,000		872,332
HAT Holdings I LLC/HAT Holdings II LLC
3.375%, due 06/15/261		1,515,000		1,333,531
Rexford Industrial Realty LP
5.000%, due 06/15/28		860,000		812,747
SBA Tower Trust
6.599%, due 01/15/281		2,300,000		2,295,033
Scentre Group Trust 1/Scentre Group Trust 2
4.375%, due 05/28/301		1,363,000		1,214,510
				11,856,694
Retail: 0.7%
Macy's Retail Holdings LLC
5.875%, due 03/15/301		300,000		253,796
Nordstrom, Inc.
4.375%, due 04/01/303		1,475,000		1,144,917
				1,398,713
Semiconductors: 0.6%
ams-OSRAM AG
7.000%, due 07/31/251		1,265,000		1,241,509
Telecommunications: 0.6%
Connect Finco SARL/Connect
U.S. Finco LLC
6.750%, due 10/01/261		1,255,000		1,170,333
Trucking & leasing: 0.6%
Penske Truck Leasing Co. LP/PTL Finance Corp.
5.550%, due 05/01/281		570,000		548,850
5.700%, due 02/01/281		760,000		734,196
				1,283,046
Total corporate bonds (cost—$105,426,325)				100,682,287
Loan assignments—8.8%
Aerospace & defense: 0.4%
Propulsion BC Newco LLC
3 mo. USD SOFR,
0.000%, due 09/14/292		875,000		869,313
Total aerospace & defense				869,313
Chemicals: 0.5%
INEOS Enterprises Holdings US Finco LLC
3 mo. USD Term SOFR + 3.750%,
9.272%, due 06/23/302		1,035,000		1,012,572
Total chemicals				1,012,572
Commercial services: 1.0%
MPH Acquisition Holdings LLC
2021 Term Loan B,
3 mo. USD LIBOR + 4.250%,
9.916%, due 09/01/282		1,286,869		1,191,782
Verscend Holding Corp.
2021 Term Loan B,
1 mo. USD Term SOFR + 4.000%,
9.439%, due 08/27/252		841,392		840,164
Total Commercial services				2,031,946
Diversified financial services: 0.5%
LendingTree, Inc.
0.000%, due 09/15/282		1,235,616		1,003,320
Total Diversified financial services				1,003,320

PACE Intermediate Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount		Value
Loan assignments—(continued)
Environmental control: 0.6%
MIP V Waste Holdings LLC
1 mo. USD Term SOFR + 3.250%,
8.689%, due 12/08/282	$	1,129,268	$	1,123,621
Total Environmental control				1,123,621
Health care products: 1.5%
Medline Borrower LP
USD Term Loan B,
1 mo. USD Term SOFR + 3.250%,
8.689%, due 10/23/282		1,227,538		1,219,104
Sotera Health Holdings LLC
1 mo. USD Term SOFR + 3.750%,
9.089%, due 12/11/262		1,895,250		1,890,512
Total Health care products				3,109,616
Pharmaceuticals: 0.6%
Jazz Financing Lux SARL
USD Term Loan,
1 mo. USD Term SOFR + 3.500%,
8.939%, due 05/05/282		1,176,640		1,175,981
Total Pharmaceuticals				1,175,981
Pipelines: 1.7%
AL NGPL Holdings LLC
1 mo. USD Term SOFR + 3.750%,
9.342%, due 04/13/282		1,184,667		1,175,782
BCP Renaissance Parent LLC
0.000%, due 10/31/282		1,030,341		1,023,901
UGI Energy Services LLC
1 mo. USD Term SOFR + 3.250%,
8.674%, due 02/22/302		1,173,073		1,169,953
Total Pipelines				3,369,636
Real estate investment trusts: 0.4%
Starwood Property Trust, Inc.
2022 Term Loan B,
1 mo. USD Term SOFR + 3.250%,
8.574%, due 11/18/272		759,262		754,046
Total Real estate investment trusts				754,046
Software: 0.6%
Central Parent, Inc.
3 mo. USD Term SOFR + 4.000%,
9.406%, due 07/06/292		1,141,375		1,133,910
Total software				1,133,910
Telecommunications: 1.0%
CenturyLink, Inc.
2020 Term Loan A,
1 mo. USD Term SOFR + 2.000%,
7.439%, due 01/31/252		1,027,509		968,428
Iridium Satellite LLC
1 mo. USD Term SOFR + 2.500%,
7.824%, due 09/20/302		1,091,990		1,089,773
Total telecommunications				2,058,201
Total loan assignments (cost—$17,752,097)				17,642,162
Mortgage-backed securities—11.8%
Arbor Multifamily Mortgage Securities Trust,
Series 2020-MF1, Class A5,
2.756%, due 05/15/531		465,000		378,469
Bank,
Series 2022-BNK42, Class A5,
4.493%, due 06/15/552		220,000		192,162

PACE Intermediate Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount		Value
Mortgage-backed securities—(continued)
BBCMS Mortgage Trust,
Series 2019-C3, Class B,
4.096%, due 05/15/52	$	90,000	$	73,035
Benchmark Mortgage Trust,
Series 2019-B15, Class B,
3.564%, due 12/15/72		210,000		151,319
Series 2019-B15, Class C,
3.721%, due 12/15/722		111,000		69,698
Series 2022-B35, Class A5,
4.445%, due 05/15/552		270,000		229,389
BX Commercial Mortgage Trust,
Series 2021-XL2, Class A,
1 mo. USD Term SOFR + 0.803%,
6.137%, due 10/15/381,2		246,308		240,289
Series 2019-XL, Class A,
1 mo. USD Term SOFR + 1.034%,
6.369%, due 10/15/361,2		262,637		261,147
Series 2021-CIP, Class A,
1 mo. USD Term SOFR + 1.035%,
6.370%, due 12/15/381,2		215,000		209,343
BX Trust,
Series 2022-CLS, Class B,
6.300%, due 10/13/271		2,020,000		1,817,486
Series 2021-ARIA, Class A,
1 mo. USD Term SOFR + 1.014%,
6.348%, due 10/15/361,2		535,000		517,593
Series 2022-GPA, Class B,
1 mo. USD Term SOFR + 2.664%,
7.999%, due 08/15/411,2		1,000,000		1,000,626
Series 2022-GPA, Class C,
1 mo. USD Term SOFR + 3.213%,
8.548%, due 08/15/421,2		950,000		950,594
Cantor Commercial Real Estate Lending,
Series 2019-CF3, Class B,
3.500%, due 01/15/532		101,000		74,836
CD Mortgage Trust,
Series 2017-CD3, Class A4,
3.631%, due 02/10/50		300,000		268,550
Citigroup Commercial Mortgage Trust,
Series 2023-PRM3, Class B,
6.360%, due 07/10/281,2		880,000		851,916
Cold Storage Trust,
Series 2020-ICE5, Class A,
1 mo. USD Term SOFR + 1.014%,
6.351%, due 11/15/371,2		530,815		524,904
COMM Mortgage Trust,
Series 2015-CR25, Class A3,
3.505%, due 08/10/48		229,494		220,989
Series 2014-CR16, Class A4,
4.051%, due 04/10/47		145,000		142,858
CRSO Trust
7.913%, due 07/10/282		880,000		853,665

PACE Intermediate Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount		Value
Mortgage-backed securities—(continued)
DC Commercial Mortgage Trust,
Series 2023-DC, Class B,
6.804%, due 09/12/401	$	660,000	$	650,070
Extended Stay America Trust,
Series 2021-ESH, Class A,
1 mo. USD Term SOFR + 1.194%,
6.529%, due 07/15/381,2		388,413		383,874
FHLMC Multifamily Structured Pass-Through Certificates,
Series K121, Class X1,
1.023%, due 10/25/302		1,183,745		62,331
Series K038, Class X1,
1.075%, due 03/25/242		2,189,309		4,186
Series KL06, Class XFX,
1.364%, due 12/25/292		720,000		39,960
Series K142, Class A2,
2.400%, due 03/25/32		385,000		302,487
Series K144, Class A2,
2.450%, due 04/25/32		270,000		212,419
Series K145, Class A2,
2.580%, due 05/25/32		605,000		480,181
Series KC02, Class A2,
3.370%, due 07/25/25		514,743		496,954
FHLMC Multifamily WI Certificates,
Series K146, Class A2,
2.920%, due 07/25/32		170,000		138,629
FNMA Aces,
Series 2022-M5, Class A3,
2.359%, due 01/01/342		325,000		244,258
FRESB Mortgage Trust,
Series 2019-SB60, Class A10H,
3.500%, due 01/25/392		165,929		148,733
JP Morgan Chase Commercial Mortgage Securities Trust,
Series 2021-MHC, Class A,
1 mo. USD Term SOFR + 0.914%,
6.249%, due 04/15/381,2		85,041		83,920
Series 2022-ACB, Class A,
30 day USD SOFR Average + 1.400%,
6.720%, due 03/15/391,2		360,000		353,233
MF1 Trust,
Series 2021-W10, Class A,
1 mo. USD Term SOFR + 1.070%,
6.404%, due 12/15/341,2		100,000		97,223
Series 2021-W10, Class B,
1 mo. USD Term SOFR + 1.370%,
6.704%, due 12/15/341,2		370,000		353,349
Morgan Stanley Capital I Trust,
Series 2015-MS1, Class A4,
3.779%, due 05/15/482		520,000		495,011
Series 2018-SUN, Class A,
1 mo. USD Term SOFR + 1.201%,
6.537%, due 07/15/351,2		290,000		286,371

PACE Intermediate Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount		Value
Mortgage-backed securities—(continued)
MTN Commercial Mortgage Trust,
Series 2022-LPFL, Class A,
1 mo. USD Term SOFR + 1.397%,
6.737%, due 03/15/391,2	$	2,000,000	$	1,954,995
OAKST Commercial Mortgage Trust,
Series 2023-NLP, Class A,
6.095%, due 03/15/401,2		2,050,000		1,996,662
One Bryant Park Trust,
Series 2019-OBP, Class A,
2.516%, due 09/15/541		2,300,000		1,801,064
SCOTT Trust,
Series 2023-SFS, Class A,
5.910%, due 03/15/401		870,000		830,029
Taubman Centers Commercial Mortgage Trust,
Series 2022-DPM, Class A,
1 mo. USD Term SOFR + 2.186%,
7.521%, due 05/15/371,2		260,000		256,019
Tharaldson Hotel Portfolio Trust,
Series 2018-THL, Class A,
1 mo. USD Term SOFR + 1.164%,
6.501%, due 11/11/341,2		81,008		80,273
Wells Fargo Commercial Mortgage Trust,
Series 2018-C46, Class A4,
4.152%, due 08/15/51		135,000		121,954
Series 2018-C44, Class A5,
4.212%, due 05/15/51		445,000		407,824
WMRK Commercial Mortgage Trust,
Series 2022-WMRK, Class C,
1 mo. USD Term SOFR + 4.083%,
9.418%, due 11/15/271,2		2,330,000		2,312,484
Total mortgage-backed securities (cost—$24,939,437)				23,623,361
Municipal bonds—0.4%
California: 0.1%
Los Angeles Department of Water & Power Power System Revenue, Revenue Bonds,
6.574%, due 07/01/45		145,000		154,539
State of California, GO Bonds,
7.550%, due 04/01/39		70,000		79,876
				234,415
Michigan: 0.0%†
University of Michigan, Revenue Bonds,
Series B,
3.504%, due 04/01/52		93,000		63,545
Minnesota: 0.0%†
University of Minnesota, Revenue Bonds,
4.048%, due 04/01/52		78,000		59,624

PACE Intermediate Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount		Value
Municipal bonds—(continued)
New Jersey: 0.1%
New Jersey Transportation Trust Fund Authority, Build America Bonds, Revenue Bonds,
Series B,
6.561%, due 12/15/40	$	105,000	$	107,091
New Jersey Turnpike Authority, Taxable Refunding, Revenue Bonds,
Series B,
2.782%, due 01/01/40		25,000		16,552
				123,643
New York: 0.1%
New York State Dormitory Authority, Personal Income Tax, Refunding,Revenue Bonds,
Series C,
2.052%, due 03/15/30		120,000		98,570
Series C,
2.152%, due 03/15/31		165,000		131,857
				230,427
Texas: 0.1%
City of Houston TX, GO Bonds,
3.961%, due 03/01/47		85,000		66,684
State of Texas, Public Finance Authority, Taxable Refunding, GO Bonds,
Series B,
2.754%, due 10/01/41		50,000		32,463
				99,147
Total municipal bonds (cost—$1,044,394)				810,801
U.S. Treasury obligations: 1.1%
U.S. Treasury Bonds,
1.375%, due 08/15/50		4,550,000		2,071,316
Total U.S. Treasury obligations (cost—$2,792,509)				2,071,316

	Number of shares
Common stocks: 1.1%
Mortgage real estate investment: 1.1%
Ellington Financial, Inc.,Series C2,4 (cost—$2,335,000)		93,400	2,078,150
Short-term investments—1.9%
Investment companies: 0.7%
State Street Institutional U.S. Government Money Market Fund, 5.301%5 (cost $1,460,967)		1,460,967	1,460,967

	Face amount
Short-term U.S. Treasury obligations—1.2%
U.S. Treasury Bills
5.441% due 04/18/245		1,200,000	1,170,001
5.454% due 01/25/245		1,250,000	1,234,338
Total short-term U.S. Treasury obligations (cost—$2,404,930)			2,404,339
Total Short-term investments (cost—$3,865,897)			3,865,306

	Number of shares
Investment of cash collateral from securities loaned—3.0%
Money market funds: 3.0%
State Street Navigator Securities Lending Government Money Market Portfolio, 5.404%5 (cost—$5,954,395)		5,954,395		5,954,395
Total investments (cost—$213,790,842)—102.9%				205,477,078
Liabilities in excess of other assets—(2.9)%				(5,799,454	)
Net assets—100.0%			$	199,677,624

PACE Intermediate Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

For a listing of defined portfolio acronyms that are used throughout the Portfolio of investments as well as the tables that follow, please refer to the Glossary of terms used in the Portfolio of investments:

Futures contracts

Number of contracts	Currency		Expiration date	Current notional amount			Value			Unrealized appreciation (depreciation)
U.S. Treasury futures buy contracts:
79	USD	U.S. Long Bond Futures	December 2023	$	9,496,373		$	8,645,563		$	(850,810	)
120	USD	U.S. Treasury Note 10 Year Futures	December 2023		13,235,807			12,740,625			(495,182	)
22	USD	U.S. Treasury Note 2 Year Futures	December 2023		4,478,065			4,453,281			(24,784	)
147	USD	Ultra U.S. Treasury Bond Futures	December 2023		18,576,859			16,546,687			(2,030,172	)
247	USD	Ultra U.S. Treasury Note 10 Year Futures	December 2023		28,152,554			26,880,547			(1,272,007	)
Total				$	73,939,658		$	69,266,703		$	(4,672,955	)
U.S. Treasury futures sell contracts:
204	USD	U.S. Treasury Note 5 Year Futures	December 2023	$	(21,680,873	)	$	(21,313,219	)	$	367,654
Total				$	(21,680,873	)	$	(21,313,219	)	$	367,654
Net unrealized appreciation (depreciation)										$	(4,305,301	)

Fair valuation summary

The following is a summary of the fair valuations according to the inputs used as of October 31, 2023 in valuing the Portfolio's investments. In the event a Portfolio holds investments for which fair value is measured using the NAV per share practical expedient (or its equivalent), a separate column will be added to the fair value hierarchy table; this is intended to permit reconciliation to the amounts presented in the Portfolio of investments.

Description	Unadjusted quoted prices in active market for identical investments (Level 1)			Other significant observable inputs (Level 2)		Unobservable inputs (Level 3)		Total
Assets
Common stocks	$	2,078,150		$	—	$	—	$	2,078,150
Asset-backed securities		—			48,749,300		—		48,749,300
Corporate bonds		—			100,682,287		—		100,682,287
Loan assignments		—			17,642,162		—		17,642,162
Mortgage-backed securities		—			23,623,361		—		23,623,361
Municipal bonds		—			810,801		—		810,801
U.S. Treasury obligations		—			2,071,316		—		2,071,316
Investment companies		—			1,460,967		—		1,460,967
Short-term U.S. Treasury obligations		—			2,404,339		—		2,404,339
Investment of cash collateral from securities loaned		—			5,954,395		—		5,954,395
Futures contracts		367,654			—		—		367,654
Total	$	2,445,804		$	203,398,928	$	—	$	205,844,732
Liabilities
Futures contracts	$	(4,672,955	)	$	—	$	—	$	(4,672,955	)
Total	$	(4,672,955	)	$	—	$	—	$	(4,672,955	)

PACE Intermediate Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

At October 31, 2023, there were no transfers in or out of Level 3.

Securities valued using unobservable inputs, i.e. Level 3, were not considered significant to the Fund.

Portfolio footnotes

† Amount represents less than 0.05% or (0.05)%.

1 Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933. These securities are considered liquid, unless noted otherwise, and may be resold in transactions exempt from registrations, normally to qualified institutional buyers. Securities exempt from registration pursuant to Rule 144A, in the amount of $104,078,353, represented 52.1% of the Portfolios net assets at period end.

2 Floating or variable rate securities. The rates disclosed are as of October 31, 2023. For securities based on a published reference rate and spread, the reference rate and spread are indicated within the description. Variable rate securities with a floor or ceiling feature are disclosed at the inherent rate, where applicable. Certain variable rate securities are not based on a published reference rate and spread, but are determined by the issuer or agent and are based on current market conditions; these securities do not indicate a reference rate and spread in the description.

3 Security, or portion thereof, was on loan at the period end.

4 Perpetual investment. Date shown reflects the next call date.

5 Rates shown reflect yield at October 31, 2023.

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Asset-backed securities—15.4%
Accredited Mortgage Loan Trust,
Series 2004-2, Class A1,
1 mo. USD Term SOFR + 0.404%,
6.019%, due 07/25/342		309,884	$	295,013
Adams Outdoor Advertising LP,
Series 2023-1, Class A2,
6.967%, due 07/15/533		980,000		955,885
Aligned Data Centers Issuer LLC,
Series 2022-1A, Class A2,
6.350%, due 10/15/473		3,000,000		2,906,490
AM Capital Funding LLC,
Series 2018-1, Class A,
4.980%, due 12/15/233		440,000		439,651
Antares CLO Ltd.,
Series 2019-1A, Class BR,
3 mo. USD SOFR + 3.350%,
1.000%, due 01/20/362,3		2,270,000		2,270,000
Avis Budget Rental Car Funding AESOP LLC,
Series 2019-3A, Class A,
2.360%, due 03/20/263		147,000		140,237
Series 2021-2A, Class B,
1.900%, due 02/20/283		122,000		105,084
Series 2023-4A, Class A,
5.490%, due 06/20/293		2,100,000		2,023,574
BHG Securitization Trust,
Series 2022-C, Class B,
5.930%, due 10/17/353		2,340,000		2,273,327
BPCRE Ltd.,
Series 2022-FL2, Class A,
1 mo. USD Term SOFR + 2.400%,
7.735%, due 01/16/372,3		500,000		500,077
CARS-DB7 LP,
Series 2023-1A, Class A2,
6.500%, due 09/15/533,4		1,178,771		1,149,670
CHEC Loan Trust,
Series 2004-2, Class M1,
1 mo. USD Term SOFR + 1.074%,
6.399%, due 06/25/342		365,284		352,211
CLI Funding VIII LLC,
Series 2023-1A, Class A,
6.310%, due 06/18/483		1,227,046		1,206,407
Credit Acceptance Auto Loan Trust,
Series 2022-3A, Class C,
8.450%, due 02/15/333		3,050,000		3,085,526
CyrusOne Data Centers Issuer I LLC,
Series 2023-1A, Class A2,
4.300%, due 04/20/483		260,000		227,753
DataBank Issuer,
Series 2023-1A, Class A2,
5.116%, due 02/25/533		1,285,000		1,159,865

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Asset-backed securities—(continued)
Delta Funding Home Equity Loan Trust,
Series 1999-3, Class A1A,
1 mo. USD Term SOFR + 0.934%,
6.269%, due 09/15/292		26,912	$	25,068
First Franklin Mortgage Loan Trust,
Series 2006-FF13, Class A2D,
1 mo. USD Term SOFR + 0.594%,
5.919%, due 10/25/362		1,007,389		630,884
FREED ABS Trust,
Series 2022-4FP, Class B,
7.580%, due 12/18/293		2,168,017		2,174,101
Frontier Issuer LLC,
Series 2023-1, Class A2,
6.600%, due 08/20/533		179,000		169,822
FS Rialto Issuer LLC,
Series 2022-FL4, Class A,
30 day USD SOFR Average + 1.900%,
7.221%, due 01/19/392,3		800,000		791,937
GLS Auto Receivables Issuer Trust,
Series 2022-1A, Class A,
1.980%, due 08/15/253		51,832		51,735
Golub Capital Partners ABS Funding Ltd.,
Series 2022-1A, Class A2B,
6.580%, due 07/22/303		2,580,000		2,373,791
GSAMP Trust,
Series 2006-HE4, Class A1,
1 mo. USD Term SOFR + 0.394%,
5.719%, due 06/25/362		597,457		567,909
HGI CRE CLO Ltd.,
Series 2022-FL3, Class A,
30 day USD SOFR Average + 1.700%,
7.020%, due 04/20/372,3		800,000		793,193
Hilton Grand Vacations Trust,
Series 2022-1D, Class D,
6.790%, due 06/20/343		72,180		67,932
Series 2022-2A, Class A,
4.300%, due 01/25/373		86,178		82,394
KREF Ltd.,
Series 2022-FL3, Class A,
1 mo. USD Term SOFR + 1.450%,
6.784%, due 02/17/392,3		600,000		591,433
LoanCore Issuer Ltd.,
Series 2021-CRE6, Class A,
1 mo. USD Term SOFR + 1.414%,
6.749%, due 11/15/382,3		700,000		681,716
M360 Ltd.,
Series 2021-CRE3, Class A,
1 mo. USD Term SOFR + 1.614%,
6.953%, due 11/22/382,3		700,000		683,457
Mariner Finance Issuance Trust,
Series 2022-AA, Class B,
7.200%, due 10/20/373		2,431,000		2,418,023

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Asset-backed securities—(continued)
MCF CLO Ltd.,
Series 2023-1A, Class C,
3 mo. USD Term SOFR + 4.200%,
9.032%, due 04/15/352,3		820,000	$	822,227
MetroNet Infrastructure Issuer LLC,
Series 2022-1A, Class A2,
6.350%, due 10/20/523		289,000		276,134
MF1 Ltd.,
Series 2022-FL8, Class A,
1 mo. USD Term SOFR + 1.350%,
6.684%, due 02/19/372,3		600,000		589,581
Monroe Capital ABS Funding II Ltd.,
Series 2023-1A, Class A1,
6.650%, due 04/22/333,4		2,170,000		2,156,414
Morgan Stanley ABS Capital I, Inc. Trust,
Series 2005-HE1, Class M2,
1 mo. USD Term SOFR + 0.819%,
6.144%, due 12/25/342		132,119		118,367
Morgan Stanley Dean Witter Capital I, Inc. Trust,
Series 2003-NC1, Class M1,
1 mo. USD Term SOFR + 1.689%,
7.014%, due 11/25/322		4,847		4,844
MVW LLC,
Series 2022-1A, Class B,
4.400%, due 11/21/393		136,151		127,832
Navient Private Education Refi Loan Trust,
Series 2021-BA, Class A,
0.940%, due 07/15/693		50,148		42,582
Series 2021-EA, Class A,
0.970%, due 12/16/693		87,654		73,193
Series 2021-FA, Class A,
1.110%, due 02/18/703		521,267		430,081
Series 2021-GA, Class A,
1.580%, due 04/15/703		194,601		163,527
New Economy Assets Phase 1 Sponsor LLC,
Series 2021-1, Class A1,
1.910%, due 10/20/613		1,500,000		1,282,713
NextGear Floorplan Master Owner Trust,
Series 2023-1A, Class A2,
5.740%, due 03/15/283		2,250,000		2,240,425
NFAS2 LLC,
Series 2022-1, Class B,
7.590%, due 09/15/283		1,460,000		1,422,167
NMEF Funding LLC,
Series 2022-B, Class A2,
6.070%, due 06/15/293		2,646,362		2,633,795
OneMain Financial Issuance Trust,
Series 2022-2A, Class A,
4.890%, due 10/14/343		288,000		281,227
Series 2022-3A, Class A,
5.940%, due 05/15/343		2,120,000		2,100,242

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Asset-backed securities—(continued)
Oportun Issuance Trust,
Series 2022-3, Class B,
8.533%, due 01/08/303		3,040,000	$	3,043,760
Oxford Finance Funding Trust,
Series 2023-1A, Class B,
7.879%, due 02/15/313		2,560,000		2,492,606
Regional Management Issuance Trust,
Series 2022-2B, Class B,
8.510%, due 11/17/323		3,140,000		3,162,992
Residential Asset Securities Corporation Trust,
Series 2005-KS11, Class M2,
1 mo. USD Term SOFR + 0.744%,
6.069%, due 12/25/352		131,599		130,419
Retained Vantage Data Centers Issuer LLC,
Series 2023-1A, Class A2A,
5.000%, due 09/15/483		1,790,000		1,610,217
Santander Drive Auto Receivables Trust,
Series 2022-7, Class C,
6.690%, due 03/17/31		3,000,000		3,007,076
Saxon Asset Securities Trust,
Series 2004-1, Class M1,
1 mo. USD Term SOFR + 0.909%,
1.922%, due 03/25/352		68,437		64,478
Series 2006-1, Class M1,
1 mo. USD Term SOFR + 0.579%,
5.904%, due 03/25/362		832,669		783,159
Sierra Timeshare Receivables Funding LLC,
Series 2021-2A, Class C,
1.950%, due 09/20/383		71,841		65,696
Series 2021-2A, Class B,
1.800%, due 09/20/383		30,441		28,331
Series 2022-2A, Class B,
5.040%, due 06/20/403		133,228		128,804
Series 2023-2A, Class C,
7.300%, due 04/20/403		113,591		113,654
Series 2023-3A, Class C,
7.120%, due 09/20/403		134,000		133,763
SoFi Professional Loan Program LLC,
Series 2019-C, Class BFX,
3.050%, due 11/16/483		158,000		124,657
Stack Infrastructure Issuer LLC,
Series 2023-1A, Class A2,
5.900%, due 03/25/483		950,000		896,958

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Asset-backed securities—(continued)
Store Master Funding I-VII XIV XIX XX,
Series 2021-1A, Class A1,
2.120%, due 06/20/513		1,354,017	$	1,109,416
Structured Asset Securities Corp.,
Series 2005-WF1, Class M1,
1 mo. USD Term SOFR + 0.774%,
6.099%, due 02/25/352		21,647		21,694
Structured Asset Securities Corp. Mortgage Pass-Through Certificates,
Series 2001-SB1, Class A2,
3.375%, due 08/25/31		36,162		35,949
TAL Advantage VII LLC,
Series 2020-1A, Class A,
2.050%, due 09/20/453		67,625		59,366
TierPoint Issuer LLC,
Series 2023-1A, Class A2,
6.000%, due 06/25/533		1,020,000		972,071
U.S. Small Business Administration,
Series 2005-20H, Class 1,
5.110%, due 08/01/25		28,954		28,495
Series 2007-20D, Class 1,
5.320%, due 04/01/27		117,540		114,099
Vantage Data Centers Issuer LLC,
Series 2023-1A, Class A2,
6.316%, due 03/16/483		1,370,000		1,317,601
VMC Finance LLC,
Series 2022-FL5, Class A,
30 day USD SOFR Average + 1.900%,
7.221%, due 02/18/392,3		800,000		783,781
Willis Engine Structured Trust VII,
Series 2023-A, Class A,
8.000%, due 10/15/483		800,000		793,045
Total asset-backed securities (cost—$67,747,599)				66,981,603
Corporate bonds—50.3%
Aerospace & defense: 1.0%
Boeing Co.
2.750%, due 02/01/26		300,000		279,197
3.250%, due 02/01/28		1,900,000		1,697,975
3.450%, due 11/01/28		200,000		177,661
5.805%, due 05/01/50		405,000		348,665
5.930%, due 05/01/60		100,000		84,130
L3Harris Technologies, Inc.
5.400%, due 01/15/27		55,000		54,015
5.400%, due 07/31/33		110,000		102,787
5.600%, due 07/31/53		90,000		79,531
Lockheed Martin Corp.
5.700%, due 11/15/54		155,000		145,152
Spirit AeroSystems, Inc.
9.375%, due 11/30/293		953,000		978,665

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Aerospace & defense—(continued)
TransDigm, Inc.
6.250%, due 03/15/263		95,000	$	92,764
6.750%, due 08/15/283		70,000		67,969
6.875%, due 12/15/303		45,000		43,450
7.500%, due 03/15/27		35,000		34,957
				4,186,918
Agriculture: 0.3%
BAT Capital Corp.
6.343%, due 08/02/30		200,000		194,103
Cargill, Inc.
5.125%, due 10/11/323		1,085,000		1,026,220
Darling Ingredients, Inc.
6.000%, due 06/15/303,5		15,000		14,073
Imperial Brands Finance PLC
3.500%, due 07/26/263		200,000		186,313
				1,420,709
Airlines: 0.3%
Air Canada
3.875%, due 08/15/263		40,000		36,394
American Airlines Pass-Through Trust
Series 2016-2, Class AA,
3.200%, due 06/15/28		209,100		184,401
Series 2015-2, Class AA,
3.600%, due 09/22/27		193,412		176,312
American Airlines, Inc.
7.250%, due 02/15/283,5		25,000		23,246
11.750%, due 07/15/253		45,000		47,677
American Airlines, Inc./AAdvantage Loyalty IP Ltd.
5.500%, due 04/20/263		79,167		76,986
5.750%, due 04/20/293		55,000		49,613
Continental Airlines Pass-Through Trust
Series 2012-2, Class A,
4.000%, due 10/29/24		100,559		97,178
JetBlue Pass-Through Trust
Series 2019-1, Class A,
2.950%, due 05/15/28		252,448		214,268
Spirit Airlines Pass-Through Trust
Series 2015-1A, Class A,
4.100%, due 04/01/28		56,323		50,350
United Airlines Holdings, Inc.
4.875%, due 01/15/25		25,000		24,226
5.000%, due 02/01/245		25,000		24,752
United Airlines Pass-Through Trust
Series 2012-1, Class A,
4.150%, due 04/11/24		144,961		143,222
United Airlines, Inc.
4.625%, due 04/15/293		35,000		29,565
VistaJet Malta Finance PLC/Vista Management Holding, Inc.
9.500%, due 06/01/283		70,000		53,632
				1,231,822
Apparel: 0.0%†
Crocs, Inc.
4.125%, due 08/15/313,5		25,000		18,999
William Carter Co.
5.625%, due 03/15/273		10,000		9,475
				28,474

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Auto manufacturers: 1.2%
American Honda Finance Corp.
Secured Overnight Financing Rate Index + 0.670%,
6.016%, due 01/10/252		200,000	$	200,006
Secured Overnight Financing Rate Index + 0.700%,
6.019%, due 11/22/242		100,000		100,042
Daimler Truck Finance North America LLC
2.000%, due 12/14/263		200,000		178,039
Secured Overnight Financing Rate + 0.750%,
6.093%, due 12/13/242,3		200,000		199,740
Ford Motor Co.
3.250%, due 02/12/32		15,000		11,321
4.750%, due 01/15/43		75,000		52,097
5.291%, due 12/08/46		70,000		50,855
9.625%, due 04/22/30		50,000		55,753
Ford Motor Credit Co. LLC
3.375%, due 11/13/25		200,000		186,641
4.125%, due 08/17/27		5,000		4,540
4.389%, due 01/08/26		10,000		9,479
6.800%, due 05/12/28		10,000		9,971
6.950%, due 03/06/26		80,000		80,138
7.350%, due 11/04/27		35,000		35,426
7.350%, due 03/06/30		1,690,000		1,697,220
General Motors Financial Co., Inc.
3.800%, due 04/07/25		260,000		250,935
Secured Overnight Financing Rate + 1.200%,
6.542%, due 11/17/232		200,000		200,054
Hyundai Capital America
0.875%, due 06/14/243		200,000		193,545
5.875%, due 04/07/253		200,000		199,264
5.950%, due 09/21/263		100,000		99,128
Nissan Motor Acceptance Co. LLC
2.000%, due 03/09/263		100,000		89,241
2.750%, due 03/09/283		200,000		165,666
Nissan Motor Co. Ltd.
3.522%, due 09/17/253		200,000		189,135
4.810%, due 09/17/303		200,000		169,917
Volkswagen Bank GmbH
2.500%, due 07/31/266		700,000		702,918
Volkswagen Group of America Finance LLC
2.850%, due 09/26/243		200,000		194,146
				5,325,217
Auto parts & equipment: 0.1%
Clarios Global LP
6.750%, due 05/15/253		20,000		19,842
Dana, Inc.
4.500%, due 02/15/32		10,000		7,831
Goodyear Tire & Rubber Co.
5.000%, due 05/31/26		15,000		14,187
5.000%, due 07/15/295		50,000		43,001
5.250%, due 04/30/31		55,000		45,231

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Auto parts & equipment—(continued)
IHO Verwaltungs GmbH
6.375% Cash or 7.125% PIK,
6.375%, due 05/15/293,7		20,000	$	17,412
ZF North America Capital, Inc.
6.875%, due 04/14/283		40,000		38,762
7.125%, due 04/14/303		15,000		14,551
				200,817
Banks: 14.4%
ABN AMRO Bank NV
(fixed, converts to FRN on 03/13/32),
3.324%, due 03/13/372,3		200,000		142,410
(fixed, converts to FRN on 10/13/25),
6.575%, due 10/13/262,3		200,000		200,374
ASB Bank Ltd.
(fixed, converts to FRN on 06/17/27),
5.284%, due 06/17/322,3		1,700,000		1,606,914
5.398%, due 11/29/273		1,680,000		1,636,107
Banco Santander SA
5.147%, due 08/18/25		200,000		194,826
(fixed, converts to FRN on 02/08/24),
7.500%, due 02/08/242,6,8		200,000		193,972

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Banks—(continued)
Bank of America Corp.
(fixed, converts to FRN on 02/04/24),
1.843%, due 02/04/252		415,000	$	409,463
(fixed, converts to FRN on 02/13/30),
2.496%, due 02/13/312		290,000		228,578
(fixed, converts to FRN on 04/29/30),
2.592%, due 04/29/312		200,000		157,673
(fixed, converts to FRN on 02/04/32),
2.972%, due 02/04/332		270,000		206,937
(fixed, converts to FRN on 04/24/27),
3.705%, due 04/24/282		100,000		91,349
4.000%, due 01/22/25		1,500,000		1,459,869
(fixed, converts to FRN on 03/20/50),
4.083%, due 03/20/512		280,000		196,307
4.125%, due 01/22/24		300,000		298,785
Series MM,
(fixed, converts to FRN on 01/28/25),
4.300%, due 01/28/252,8		20,000		17,970
Series RR,
(fixed, converts to FRN on 01/27/27),
4.375%, due 01/27/272,8		145,000		117,030
(fixed, converts to FRN on 04/27/27),
4.376%, due 04/27/282		250,000		233,371
(fixed, converts to FRN on 07/22/27),
4.948%, due 07/22/282		225,000		213,827
(fixed, converts to FRN on 09/15/28),
5.819%, due 09/15/292		200,000		194,746
Series AA,
(fixed, converts to FRN on 03/17/25),
6.100%, due 03/17/252,8		195,000		188,014
Series X,
(fixed, converts to FRN on 09/05/24),
6.250%, due 09/05/242,8		47,000		46,193
Bank of New York Mellon Corp.
(fixed, converts to FRN on 02/07/27),
3.442%, due 02/07/282		1,760,000		1,623,181
Series H,
(fixed, converts to FRN on 03/20/26),
3.700%, due 03/20/262,8		23,000		19,786
Series I,
(fixed, converts to FRN on 12/20/26),
3.750%, due 12/20/262,8		75,000		58,050
Bank of New Zealand
4.846%, due 02/07/283		1,390,000		1,329,169
Barclays PLC
4.836%, due 05/09/28		535,000		480,798
(fixed, converts to FRN on 05/16/28),
4.972%, due 05/16/292		200,000		184,109
(fixed, converts to FRN on 11/02/32),
7.437%, due 11/02/332		400,000		399,110
(fixed, converts to FRN on 09/15/29),
8.000%, due 03/15/292,8		200,000		176,900
BNP Paribas SA
3.375%, due 01/09/253		200,000		193,188
(fixed, converts to FRN on 01/12/27),
4.625%, due 01/12/272,3,8		200,000		157,711
(fixed, converts to FRN on 03/25/24),
6.625%, due 03/25/242,3,8		200,000		197,202

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Banks—(continued)
BPCE SA
(fixed, converts to FRN on 10/19/28),
6.714%, due 10/19/292,3		250,000	$	246,476
Canadian Imperial Bank of Commerce
3.450%, due 04/07/275		1,760,000		1,610,063
Citibank NA
5.864%, due 09/29/255		100,000		100,121
Citigroup, Inc.
(fixed, converts to FRN on 11/05/29),
2.976%, due 11/05/302		200,000		164,182
(fixed, converts to FRN on 03/17/25),
3.290%, due 03/17/262		240,000		229,833
(fixed, converts to FRN on 01/10/27),
3.887%, due 01/10/282		755,000		699,945
4.400%, due 06/10/25		980,000		948,452
(fixed, converts to FRN on 03/31/30),
4.412%, due 03/31/312		1,745,000		1,543,810
Series V,
(fixed, converts to FRN on 01/30/25),
4.700%, due 01/30/252,8		22,000		19,671
Series U,
(fixed, converts to FRN on 09/12/24),
5.000%, due 09/12/242,8		39,000		36,910
Series Z,
(fixed, converts to FRN on 05/15/28),
7.375%, due 05/15/282,8		140,000		133,529
Citizens Financial Group, Inc.
Series C,
(fixed, converts to FRN on 04/06/24),
6.375%, due 04/06/242,5,8		80,000		65,052
Series B,
3 mo. USD Term SOFR + 3.265%,
8.687%, due 01/06/242,8		60,000		50,989
Comerica Bank
4.000%, due 07/27/255		1,020,000		933,054
(fixed, converts to FRN on 08/25/32),
5.332%, due 08/25/332		1,690,000		1,308,718
Deutsche Bank AG
(fixed, converts to FRN on 11/26/24),
3.961%, due 11/26/252		200,000		192,863
Fifth Third Bancorp
(fixed, converts to FRN on 07/28/29),
4.772%, due 07/28/302		35,000		31,018
(fixed, converts to FRN on 10/27/27),
6.361%, due 10/27/282		2,430,000		2,365,097
Series H,
3 mo. USD Term SOFR + 3.295%,
8.689%, due 12/01/232,8		115,000		103,716

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Banks—(continued)
Goldman Sachs Group, Inc.
(fixed, converts to FRN on 01/24/24),
1.757%, due 01/24/252		415,000	$	409,906
(fixed, converts to FRN on 10/21/26),
1.948%, due 10/21/272		100,000		87,702
(fixed, converts to FRN on 04/22/31),
2.615%, due 04/22/322		615,000		468,568
(fixed, converts to FRN on 09/29/24),
3.272%, due 09/29/252		200,000		194,089
3.500%, due 04/01/25		100,000		96,243
Series U,
(fixed, converts to FRN on 08/10/26),
3.650%, due 08/10/262,8		45,000		34,873
Series T,
(fixed, converts to FRN on 05/10/26),
3.800%, due 05/10/262,8		20,000		15,630
(fixed, converts to FRN on 10/31/37),
4.017%, due 10/31/382		290,000		219,558
Series V,
(fixed, converts to FRN on 11/10/26),
4.125%, due 11/10/262,8		50,000		39,616
(fixed, converts to FRN on 08/23/27),
4.482%, due 08/23/282		265,000		248,107
Series R,
(fixed, converts to FRN on 02/10/25),
4.950%, due 02/10/252,8		39,000		35,917
Series O,
(fixed, converts to FRN on 11/10/26),
5.300%, due 11/10/262,8		44,000		41,013
3 mo. USD Term SOFR + 2.012%,
7.402%, due 10/28/272		200,000		204,085
Grupo Aval Ltd.
4.375%, due 02/04/303		70,000		51,625
HSBC Holdings PLC
(fixed, converts to FRN on 06/04/30),
2.848%, due 06/04/312		2,000,000		1,569,469
(fixed, converts to FRN on 09/09/31),
4.700%, due 03/09/312,8		200,000		143,690
(fixed, converts to FRN on 08/11/32),
5.402%, due 08/11/332		200,000		179,835
(fixed, converts to FRN on 05/22/27),
6.000%, due 05/22/272,8		670,000		583,546
(fixed, converts to FRN on 03/09/33),
6.254%, due 03/09/342		600,000		569,505
(fixed, converts to FRN on 11/03/27),
7.390%, due 11/03/282		1,205,000		1,236,089

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Banks—(continued)
Huntington Bancshares, Inc.
(fixed, converts to FRN on 08/04/27),
4.443%, due 08/04/282		830,000	$	758,089
Series G,
(fixed, converts to FRN on 10/15/27),
4.450%, due 10/15/272,5,8		8,000		5,970
Series F,
(fixed, converts to FRN on 07/15/30),
5.625%, due 07/15/302,8		19,000		14,775
Series E,
3 mo. USD Term SOFR + 3.142%,
8.536%, due 01/15/242,5,8		124,000		103,998
Huntington National Bank
5.650%, due 01/10/30		1,645,000		1,507,090
ING Groep NV
(fixed, converts to FRN on 03/28/25),
3.869%, due 03/28/262		1,800,000		1,735,322
(fixed, converts to FRN on 11/16/27),
3.875%, due 05/16/272,8		227,000		158,432
(fixed, converts to FRN on 11/16/26),
5.750%, due 11/16/262,8		200,000		175,909
Secured Overnight Financing Rate + 1.560%,
6.905%, due 09/11/272		200,000		200,258
Intesa Sanpaolo SpA
Series XR,
4.000%, due 09/23/293		200,000		166,679
(fixed, converts to FRN on 11/21/32),
8.248%, due 11/21/332,3		200,000		195,120

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Banks—(continued)
JPMorgan Chase & Co.
(fixed, converts to FRN on 06/23/24),
0.969%, due 06/23/252		100,000	$	96,334
(fixed, converts to FRN on 09/22/26),
1.470%, due 09/22/272		200,000		174,227
(fixed, converts to FRN on 12/10/24),
1.561%, due 12/10/252		320,000		302,824
(fixed, converts to FRN on 06/01/27),
2.182%, due 06/01/282		250,000		217,323
(fixed, converts to FRN on 02/24/27),
2.947%, due 02/24/282		200,000		180,022
(fixed, converts to FRN on 04/22/40),
3.109%, due 04/22/412		470,000		311,527
(fixed, converts to FRN on 01/23/28),
3.509%, due 01/23/292		200,000		179,447
(fixed, converts to FRN on 01/29/26),
3.960%, due 01/29/272		100,000		95,320
(fixed, converts to FRN on 04/23/28),
4.005%, due 04/23/292		650,000		591,975
Series HH,
(fixed, converts to FRN on 02/01/25),
4.600%, due 02/01/252,8		16,000		14,907
Series FFF,
(fixed, converts to FRN on 08/01/24),
5.000%, due 08/01/242,8		45,000		43,547
(fixed, converts to FRN on 07/24/28),
5.299%, due 07/24/292		200,000		192,551
(fixed, converts to FRN on 10/22/26),
6.070%, due 10/22/272		200,000		199,577
Series CC,
3 mo. USD Term SOFR + 2.842%,
8.219%, due 02/01/242,8		45,000		44,907
KeyBank NA
5.850%, due 11/15/275		1,435,000		1,328,960
Lloyds Bank PLC
0.000%, due 04/02/322,6,9		2,200,000		1,277,381
Lloyds Banking Group PLC
(fixed, converts to FRN on 03/18/27),
3.750%, due 03/18/282		1,785,000		1,626,845
(fixed, converts to FRN on 11/15/32),
7.953%, due 11/15/332		810,000		821,342
(fixed, converts to FRN on 03/27/30),
8.000%, due 09/27/292,8		200,000		175,621
M&T Bank Corp.
Series I,
(fixed, converts to FRN on 09/01/26),
3.500%, due 09/01/262,8		190,000		127,054
Series G,
(fixed, converts to FRN on 08/01/24),
5.000%, due 08/01/242,8		56,000		44,520
Mitsubishi UFJ Financial Group, Inc.
2.193%, due 02/25/25		200,000		190,046
Mizuho Financial Group, Inc.
(fixed, converts to FRN on 05/22/29),
3.261%, due 05/22/302		200,000		170,085

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Banks—(continued)
Morgan Stanley
(fixed, converts to FRN on 09/16/31),
2.484%, due 09/16/362		440,000	$	311,262
(fixed, converts to FRN on 01/22/30),
2.699%, due 01/22/312		210,000		168,730
3.591%, due 07/22/282		535,000		485,198
(fixed, converts to FRN on 02/01/28),
5.123%, due 02/01/292		200,000		190,418
(fixed, converts to FRN on 07/20/28),
5.449%, due 07/20/292		200,000		192,348
(fixed, converts to FRN on 01/19/33),
5.948%, due 01/19/382		90,000		81,610
(fixed, converts to FRN on 10/18/32),
6.342%, due 10/18/332		1,380,000		1,352,922
NatWest Group PLC
(fixed, converts to FRN on 11/28/30),
3.032%, due 11/28/352		550,000		402,939
(fixed, converts to FRN on 05/22/27),
3.073%, due 05/22/282		200,000		176,910
(fixed, converts to FRN on 03/02/33),
6.016%, due 03/02/342,5		200,000		186,223
(fixed, converts to FRN on 11/10/25),
7.472%, due 11/10/262		1,370,000		1,394,091
PNC Financial Services Group, Inc.
Series T,
(fixed, converts to FRN on 09/15/26),
3.400%, due 09/15/262,5,8		304,000		218,741
Series S,
(fixed, converts to FRN on 11/01/26),
5.000%, due 11/01/262,8		22,000		18,296
Series W,
(fixed, converts to FRN on 03/15/30),
6.250%, due 03/15/302,8		75,000		61,725
Royal Bank of Canada
3.375%, due 04/14/25		160,000		154,396
Santander Holdings USA, Inc.
(fixed, converts to FRN on 01/06/27),
2.490%, due 01/06/282		1,200,000		1,033,106
(fixed, converts to FRN on 09/09/25),
5.807%, due 09/09/262		1,140,000		1,116,347
(fixed, converts to FRN on 03/09/28),
6.499%, due 03/09/292		1,145,000		1,107,415
Santander U.K. Group Holdings PLC
(fixed, converts to FRN on 01/10/28),
6.534%, due 01/10/292		100,000		97,832
Skandinaviska Enskilda Banken AB
(fixed, converts to FRN on 05/13/25),
5.125%, due 05/13/252,6,8		200,000		188,000
Societe Generale SA
(fixed, converts to FRN on 01/10/33),
6.691%, due 01/10/342,3		300,000		280,915

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Banks—(continued)
Standard Chartered PLC
(fixed, converts to FRN on 05/21/24),
3.785%, due 05/21/252,3		200,000	$	196,686
(fixed, converts to FRN on 02/19/29),
4.300%, due 08/19/282,3,5,8		10,000		6,998
(fixed, converts to FRN on 07/06/26),
6.187%, due 07/06/272,3		100,000		99,105
State Street Corp.
(fixed, converts to FRN on 11/04/27),
5.820%, due 11/04/282		740,000		731,448
Sumitomo Mitsui Financial Group, Inc.
1.902%, due 09/17/28		200,000		163,556
Svenska Handelsbanken AB
3.950%, due 06/10/273		1,800,000		1,679,994
Truist Financial Corp.
(fixed, converts to FRN on 06/06/27),
4.123%, due 06/06/282		1,720,000		1,564,851
Series P,
(fixed, converts to FRN on 12/01/25),
4.950%, due 09/01/252,5,8		5,000		4,535
Series Q,
(fixed, converts to FRN on 09/01/30),
5.100%, due 03/01/302,8		15,000		12,013
(fixed, converts to FRN on 01/26/33),
5.122%, due 01/26/342		200,000		171,604
(fixed, converts to FRN on 06/08/33),
5.867%, due 06/08/342		170,000		154,649
(fixed, converts to FRN on 10/28/32),
6.123%, due 10/28/332		770,000		712,983
Series L,
3 mo. USD Term SOFR + 3.364%,
8.773%, due 12/15/242,5,8		73,000		69,243
U.S. Bancorp
Series N,
(fixed, converts to FRN on 01/15/27),
3.700%, due 01/15/272,8		205,000		143,917
(fixed, converts to FRN on 02/01/33),
4.839%, due 02/01/342		200,000		170,890
UniCredit SpA
7.830%, due 12/04/233		500,000		500,090

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Banks—(continued)
Wells Fargo & Co.
(fixed, converts to FRN on 10/30/24),
2.406%, due 10/30/252		400,000	$	383,809
(fixed, converts to FRN on 02/11/30),
2.572%, due 02/11/312		625,000		494,880
(fixed, converts to FRN on 06/17/26),
3.196%, due 06/17/272		200,000		184,882
(fixed, converts to FRN on 03/02/32),
3.350%, due 03/02/332		1,915,000		1,507,807
Series BB,
(fixed, converts to FRN on 03/15/26),
3.900%, due 03/15/262,8		60,000		51,970
(fixed, converts to FRN on 07/25/28),
5.574%, due 07/25/292		200,000		192,857
(fixed, converts to FRN on 09/15/28),
7.625%, due 09/15/282,5,8		50,000		50,065
Wells Fargo Bank NA
5.450%, due 08/07/26		100,000		99,060
5.550%, due 08/01/25		100,000		99,643
Westpac Banking Corp.
(fixed, converts to FRN on 11/18/31),
3.020%, due 11/18/362		240,000		172,631
				62,334,058
Beverages: 0.2%
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc.
3.650%, due 02/01/26		260,000		249,962
Constellation Brands, Inc.
2.250%, due 08/01/31		270,000		205,175
Molson Coors Beverage Co.
4.200%, due 07/15/46		300,000		212,739
Suntory Holdings Ltd.
2.250%, due 10/16/243		200,000		192,639
				860,515
Biotechnology: 0.2%
Amgen, Inc.
2.770%, due 09/01/53		215,000		112,327
5.750%, due 03/02/63		240,000		207,869
Gilead Sciences, Inc.
5.250%, due 10/15/33		50,000		47,363
5.550%, due 10/15/53		50,000		45,166
Regeneron Pharmaceuticals, Inc.
1.750%, due 09/15/30		300,000		226,086
				638,811
Building Materials: 0.1%
Builders FirstSource, Inc.
4.250%, due 02/01/323		15,000		11,938
6.375%, due 06/15/323		35,000		32,034
Camelot Return Merger Sub, Inc.
8.750%, due 08/01/283,5		35,000		32,681
Emerald Debt Merger Sub LLC
6.625%, due 12/15/303		25,000		23,781
Fortune Brands Innovations, Inc.
3.250%, due 09/15/29		200,000		170,309
JELD-WEN, Inc.
4.875%, due 12/15/273		40,000		33,906

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Building Materials—(continued)
Knife River Corp.
7.750%, due 05/01/313		30,000	$	29,888
Masonite International Corp.
3.500%, due 02/15/303		50,000		39,591
5.375%, due 02/01/283,5		20,000		18,418
Standard Industries, Inc.
3.375%, due 01/15/313,5		15,000		11,351
4.375%, due 07/15/303		30,000		24,511
4.750%, due 01/15/283,5		50,000		44,745
				473,153
Chemicals: 0.1%
Avient Corp.
7.125%, due 08/01/303		50,000		48,104
INEOS Finance PLC
6.750%, due 05/15/283		60,000		56,024
INEOS Quattro Finance 2 PLC
3.375%, due 01/15/263		60,000		57,300
International Flavors & Fragrances, Inc.
2.300%, due 11/01/303		200,000		148,527
NOVA Chemicals Corp.
4.250%, due 05/15/293,5		25,000		18,490
5.250%, due 06/01/273		24,000		20,272
Olympus Water U.S. Holding Corp.
4.250%, due 10/01/283,5		65,000		51,866
SNF Group SACA
3.125%, due 03/15/273		30,000		26,547
Tronox, Inc.
4.625%, due 03/15/293,5		75,000		59,080
WR Grace Holdings LLC
4.875%, due 06/15/273		15,000		13,475
				499,685
Commercial services: 0.6%
ADT Security Corp.
4.125%, due 08/01/293,5		55,000		47,171
Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 SARL
4.625%, due 06/01/283		20,000		16,358
APi Group DE, Inc.
4.125%, due 07/15/293		25,000		20,390
4.750%, due 10/15/293		30,000		25,657
ASGN, Inc.
4.625%, due 05/15/283		55,000		48,702
Ashtead Capital, Inc.
5.500%, due 08/11/323		1,700,000		1,521,090
CoStar Group, Inc.
2.800%, due 07/15/303		200,000		155,305
Duke University
Series 2020,
2.682%, due 10/01/44		300,000		194,363
Emory University
Series 2020,
2.143%, due 09/01/30		200,000		160,678
GTCR W-2 Merger Sub LLC
7.500%, due 01/15/313		45,000		44,431
HealthEquity, Inc.
4.500%, due 10/01/293		45,000		38,547
Korn Ferry
4.625%, due 12/15/273,5		65,000		59,122

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Commercial services—(continued)
Prime Security Services Borrower LLC/Prime Finance, Inc.
5.750%, due 04/15/263		95,000	$	92,160
6.250%, due 01/15/283,5		45,000		41,729
United Rentals North America, Inc.
3.750%, due 01/15/32		55,000		43,731
5.250%, due 01/15/30		55,000		50,222
Williams Scotsman, Inc.
7.375%, due 10/01/313		25,000		24,590
ZipRecruiter, Inc.
5.000%, due 01/15/303		30,000		23,431
				2,607,677
Computers: 0.2%
Apple, Inc.
2.450%, due 08/04/26		610,000		566,495
2.850%, due 08/05/61		210,000		116,738
Dell International LLC/EMC Corp.
5.850%, due 07/15/25		200,000		199,625
Presidio Holdings, Inc.
4.875%, due 02/01/273		65,000		59,553
				942,411
Cosmetics/Personal Care: 0.0%†
Coty, Inc./HFC Prestige Products, Inc./HFC Prestige International U.S. LLC
6.625%, due 07/15/303		40,000		38,109
Distribution & wholesale: 0.0%†
Resideo Funding, Inc.
4.000%, due 09/01/293		50,000		40,125
Ritchie Bros Holdings, Inc.
6.750%, due 03/15/283		15,000		14,700
Windsor Holdings III LLC
8.500%, due 06/15/303		45,000		43,806
				98,631
Diversified financial services: 2.0%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust
3.300%, due 01/30/32		290,000		224,515
4.450%, due 04/03/26		200,000		191,286
Ally Financial, Inc.
2.200%, due 11/02/285		200,000		153,557
Series B,
(fixed, converts to FRN on 05/15/26),
4.700%, due 05/15/262,8		145,000		94,119
Series C,
(fixed, converts to FRN on 05/15/28),
4.700%, due 05/15/282,8		164,000		95,745
5.750%, due 11/20/255		15,000		14,329
American Express Co.
Series D,
(fixed, converts to FRN on 09/15/26),
3.550%, due 09/15/262,8		140,000		109,900
(fixed, converts to FRN on 10/30/25),
6.338%, due 10/30/262		200,000		200,567
Avolon Holdings Funding Ltd.
5.500%, due 01/15/263		1,000,000		962,850
Brightsphere Investment Group, Inc.
4.800%, due 07/27/26		755,000		683,275

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Diversified financial services—(continued)
Capital One Financial Corp.
Series M,
(fixed, converts to FRN on 09/01/26),
3.950%, due 09/01/262,5,8		235,000	$	163,555
(fixed, converts to FRN on 05/10/27),
4.927%, due 05/10/282		1,700,000		1,572,676
(fixed, converts to FRN on 10/29/26),
7.149%, due 10/29/272		200,000		200,030
Charles Schwab Corp.
Series H,
(fixed, converts to FRN on 12/01/30),
4.000%, due 12/01/302,8		256,000		174,699
Series G,
(fixed, converts to FRN on 06/01/25),
5.375%, due 06/01/252,5,8		15,000		14,243
(fixed, converts to FRN on 05/19/33),
5.853%, due 05/19/342		90,000		82,546
Credit Acceptance Corp.
6.625%, due 03/15/265		1,500,000		1,424,252
Discover Financial Services
Series C,
(fixed, converts to FRN on 10/30/27),
5.500%, due 10/30/272,8		235,000		156,720
Lazard Group LLC
4.375%, due 03/11/29		100,000		90,780
LeasePlan Corp. NV
2.875%, due 10/24/243		200,000		193,353
Lehman Brothers Holdings, Inc.
0.000%, due 12/30/4910		1,900,000		2,850
1.000%, due 01/24/4910		4,500,000		6,750
1.000%, due 12/30/4910		900,000		1,350
Navient Corp.
Series A,
5.625%, due 01/25/25		100,000		96,903
OneMain Finance Corp.
3.500%, due 01/15/27		40,000		33,800
3.875%, due 09/15/28		45,000		35,579
7.125%, due 03/15/265		70,000		67,984
Oxford Finance LLC/Oxford Finance Co.-Issuer II, Inc.
6.375%, due 02/01/273		1,660,000		1,512,675
				8,560,888
Electric: 5.1%
Adani Electricity Mumbai Ltd.
3.949%, due 02/12/303,5		300,000		211,725
AES Corp.
2.450%, due 01/15/315		200,000		150,285
Alexander Funding Trust II
7.467%, due 07/31/283		1,475,000		1,464,400
American Electric Power Co., Inc.
5.950%, due 11/01/32		195,000		188,423
Appalachian Power Co.
Series AA,
2.700%, due 04/01/31		200,000		157,484
Atlantica Sustainable Infrastructure PLC
4.125%, due 06/15/283,5		1,495,000		1,291,038

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Electric—(continued)
Avangrid, Inc.
3.800%, due 06/01/29		1,600,000	$	1,406,325
Black Hills Corp.
2.500%, due 06/15/30		200,000		156,443
Calpine Corp.
3.750%, due 03/01/313		45,000		35,856
4.625%, due 02/01/293		58,000		48,989
5.000%, due 02/01/313		64,000		51,621
5.125%, due 03/15/283		30,000		26,848
CenterPoint Energy Houston Electric LLC
5.200%, due 10/01/28		200,000		195,541
Clearway Energy Operating LLC
3.750%, due 01/15/323		30,000		22,724
Commonwealth Edison Co.
3.700%, due 03/01/45		745,000		512,355
Constellation Energy Generation LLC
6.125%, due 01/15/34		200,000		193,324
6.500%, due 10/01/53		50,000		46,962
Dominion Energy, Inc.
Series C,
2.250%, due 08/15/31		200,000		149,141
Series C,
(fixed, converts to FRN on 04/15/27),
4.350%, due 01/15/272,8		60,000		48,819
5.375%, due 11/15/32		270,000		250,017
Duke Energy Florida LLC
5.950%, due 11/15/52		1,175,000		1,087,359
Duke Energy Progress LLC
2.000%, due 08/15/31		1,200,000		902,233
Edison International
Series B,
(fixed, converts to FRN on 03/15/27),
5.000%, due 12/15/262,8		235,000		209,141
Series A,
(fixed, converts to FRN on 03/15/26),
5.375%, due 03/15/262,8		1,810,000		1,622,071
Enel Finance America LLC
7.100%, due 10/14/273		500,000		511,262
Entergy Louisiana LLC
5.590%, due 10/01/24		307,000		306,293
Exelon Corp.
2.750%, due 03/15/27		200,000		180,938
4.700%, due 04/15/50		160,000		120,639
IPALCO Enterprises, Inc.
4.250%, due 05/01/30		200,000		172,231
Leeward Renewable Energy Operations LLC
4.250%, due 07/01/293		25,000		20,417
MidAmerican Energy Co.
3.650%, due 04/15/29		1,400,000		1,262,244
Monongahela Power Co.
3.550%, due 05/15/273		1,800,000		1,656,536

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Electric—(continued)
National Rural Utilities Cooperative Finance Corp.
4.800%, due 03/15/28		100,000	$	96,762
Nevada Power Co.
Series GG,
5.900%, due 05/01/53		1,245,000		1,132,970
New York State Electric & Gas Corp.
2.150%, due 10/01/313		1,400,000		1,028,090
NextEra Energy Capital Holdings, Inc.
3.550%, due 05/01/27		1,700,000		1,564,108
5.749%, due 09/01/25		165,000		164,224
Niagara Mohawk Power Corp.
4.278%, due 12/15/283		300,000		276,722
NRG Energy, Inc.
3.375%, due 02/15/293		25,000		20,347
3.625%, due 02/15/313		50,000		37,732
3.875%, due 02/15/323		25,000		18,579
5.250%, due 06/15/293		50,000		44,113
(fixed, converts to FRN on 03/15/28),
10.250%, due 03/15/282,3,8		40,000		38,615
Pacific Gas & Electric Co.
3.150%, due 01/01/26		100,000		92,564
3.400%, due 08/15/24		200,000		195,427
3.750%, due 02/15/24		200,000		198,662
4.300%, due 03/15/45		425,000		275,010
6.400%, due 06/15/33		200,000		187,688
PacifiCorp
2.700%, due 09/15/30		100,000		79,974
Southern California Edison Co.
5.850%, due 11/01/27		100,000		99,855
5.950%, due 11/01/32		775,000		756,867
Southern Co.
Series A,
3.700%, due 04/30/30		200,000		173,411
Series B,
(fixed, converts to FRN on 01/15/26),
4.000%, due 01/15/512		435,000		396,887
Southwestern Electric Power Co.
Series M,
4.100%, due 09/15/28		200,000		183,242
Talen Energy Supply LLC
8.625%, due 06/01/303		10,000		10,161
Vistra Operations Co. LLC
4.375%, due 05/01/293		25,000		21,235
5.000%, due 07/31/273		105,000		96,053
5.500%, due 09/01/263		10,000		9,514
WEC Energy Group, Inc.
1.800%, due 10/15/30		200,000		149,571
				22,008,067
Electrical components & equipment: 0.0%†
Energizer Holdings, Inc.
4.375%, due 03/31/293,5		25,000		20,408
4.750%, due 06/15/283		30,000		25,624
6.500%, due 12/31/273,5		30,000		27,965
				73,997
Electronics: 0.0%†
Imola Merger Corp.
4.750%, due 05/15/293		100,000		87,179

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Corporate bonds—(continued)
Electronics—(continued)
Sensata Technologies BV
4.000%, due 04/15/293		20,000	$	17,002
5.875%, due 09/01/303		35,000		31,967
				136,148
Energy-Alternate Sources: 0.3%
FS Luxembourg SARL
10.000%, due 12/15/253		20,000		20,335
NextEra Energy Partners LP
2.500%, due 06/15/263		1,540,000		1,337,282
				1,357,617
Engineering & construction: 0.1%
Global Infrastructure Solutions, Inc.
5.625%, due 06/01/293		25,000		20,000
Sydney Airport Finance Co. Pty. Ltd.
3.375%, due 04/30/253		300,000		288,570
				308,570
Entertainment: 0.2%
Banijay Entertainment SASU
8.125%, due 05/01/293		25,000		24,375
Caesars Entertainment, Inc.
6.250%, due 07/01/253		70,000		68,872
Cedar Fair LP/Canada's Wonderland Co./Magnum Management Corp./Millennium Op
5.500%, due 05/01/253		40,000		39,205
Churchill Downs, Inc.
6.750%, due 05/01/313		95,000		87,637
Light & Wonder International, Inc.
7.500%, due 09/01/313		20,000		19,529
Live Nation Entertainment, Inc.
4.750%, due 10/15/273,5		35,000		31,983
6.500%, due 05/15/273		25,000		24,391
Midwest Gaming Borrower LLC/Midwest Gaming Finance Corp.
4.875%, due 05/01/293		45,000		37,463
Raptor Acquisition Corp./Raptor Co.-Issuer LLC
4.875%, due 11/01/263		45,000		41,872
Six Flags Theme Parks, Inc.
7.000%, due 07/01/253		33,000		32,772
Warnermedia Holdings, Inc.
4.054%, due 03/15/29		300,000		265,461
5.141%, due 03/15/52		325,000		229,975
				903,535
Environmental control: 0.0%†
Enviri Corp.
5.750%, due 07/31/273		70,000		59,168
Food: 0.2%
Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC
4.625%, due 01/15/273		35,000		32,802
5.875%, due 02/15/283		20,000		19,158
6.500%, due 02/15/283		45,000		44,181
Kroger Co.
5.400%, due 01/15/49		115,000		98,556

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Corporate bonds—(continued)
Food—(continued)
Performance Food Group, Inc.
4.250%, due 08/01/293		45,000	$	37,970
5.500%, due 10/15/273		40,000		37,403
Pilgrim's Pride Corp.
3.500%, due 03/01/32		30,000		22,854
4.250%, due 04/15/31		50,000		41,188
6.250%, due 07/01/33		40,000		36,760
6.875%, due 05/15/34		25,000		23,655
Sysco Corp.
3.150%, due 12/14/51		135,000		78,060
6.600%, due 04/01/50		184,000		181,527
U.S. Foods, Inc.
4.625%, due 06/01/303		25,000		21,348
6.875%, due 09/15/283		15,000		14,660
7.250%, due 01/15/323		20,000		19,633
				709,755
Food service: 0.0%†
Aramark Services, Inc.
5.000%, due 02/01/283		55,000		50,443
Gas: 0.2%
National Fuel Gas Co.
2.950%, due 03/01/31		300,000		228,049
NiSource, Inc.
3.600%, due 05/01/30		200,000		171,190
Southern California Gas Co.
2.950%, due 04/15/27		100,000		91,155
Southwest Gas Corp.
4.050%, due 03/15/32		200,000		169,383
				659,777
Healthcare-products: 0.0%†
Medline Borrower LP
3.875%, due 04/01/293		65,000		54,884
Healthcare-services: 0.8%
Acadia Healthcare Co., Inc.
5.000%, due 04/15/293		55,000		49,039
Catalent Pharma Solutions, Inc.
3.125%, due 02/15/293		25,000		19,656
3.500%, due 04/01/303,5		10,000		7,850
Centene Corp.
2.625%, due 08/01/31		300,000		225,300
CHS/Community Health Systems, Inc.
5.250%, due 05/15/303,5		30,000		21,305
CommonSpirit Health
6.073%, due 11/01/27		1,290,000		1,286,415
DaVita, Inc.
3.750%, due 02/15/313		15,000		10,782
4.625%, due 06/01/303		15,000		11,756
Fortrea Holdings, Inc.
7.500%, due 07/01/303		10,000		9,650
HCA, Inc.
3.125%, due 03/15/27		200,000		180,476
4.125%, due 06/15/29		49,000		43,491
5.500%, due 06/01/33		95,000		86,670
IQVIA, Inc.
5.000%, due 10/15/263		40,000		38,133
Legacy LifePoint Health LLC
4.375%, due 02/15/273		15,000		12,404
LifePoint Health, Inc.
9.875%, due 08/15/303		10,000		9,037
Molina Healthcare, Inc.
3.875%, due 05/15/323		60,000		47,145
4.375%, due 06/15/283		30,000		26,700

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Corporate bonds—(continued)
Healthcare-services—(continued)
Roche Holdings, Inc.
2.607%, due 12/13/513		200,000	$	110,879
Select Medical Corp.
6.250%, due 08/15/263		30,000		29,179
Sutter Health
5.164%, due 08/15/33		1,140,000		1,064,142
Tenet Healthcare Corp.
4.625%, due 06/15/28		55,000		48,931
5.125%, due 11/01/27		25,000		23,078
6.250%, due 02/01/27		70,000		67,126
6.750%, due 05/15/313		55,000		52,230
UnitedHealth Group, Inc.
5.875%, due 02/15/53		185,000		174,955
				3,656,329
Holding companies-divers: 0.0%†
Benteler International AG
10.500%, due 05/15/283		25,000		25,181
Home builders: 0.0%†
KB Home
4.000%, due 06/15/31		20,000		15,616
7.250%, due 07/15/30		30,000		28,800
Mattamy Group Corp.
4.625%, due 03/01/303		30,000		24,412
Shea Homes LP/Shea Homes Funding Corp.
4.750%, due 02/15/28		70,000		61,522
				130,350
Household products: 0.0%†
Coty, Inc.
5.000%, due 04/15/263		20,000		19,107
6.500%, due 04/15/263		10,000		9,850
Edgewell Personal Care Co.
5.500%, due 06/01/283		25,000		22,817
				51,774
Household products/wares: 0.0%†
Spectrum Brands, Inc.
3.875%, due 03/15/313		15,000		12,007
Housewares: 0.3%
Newell Brands, Inc.
6.375%, due 09/15/275		1,340,000		1,254,929
6.375%, due 04/01/36		10,000		7,843
				1,262,772
Insurance: 7.8%
Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer
4.250%, due 10/15/273		40,000		35,166
6.750%, due 04/15/283		70,000		66,517
Athene Global Funding
2.550%, due 06/29/253		1,800,000		1,675,781
Athene Holding Ltd.
6.650%, due 02/01/33		1,555,000		1,498,518
Corebridge Financial, Inc.
4.350%, due 04/05/42		130,000		94,257
(fixed, converts to FRN on 12/15/27),
6.875%, due 12/15/522		1,690,000		1,561,328
Corebridge Global Funding
5.750%, due 07/02/263		100,000		98,614
Enstar Finance LLC
(fixed, converts to FRN on 01/15/27),
5.500%, due 01/15/422		2,000,000		1,594,172
Enstar Group Ltd.
4.950%, due 06/01/29		1,850,000		1,684,203

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Corporate bonds—(continued)
Insurance—(continued)
Equitable Holdings, Inc.
4.350%, due 04/20/28		300,000	$	274,605
F&G Annuities & Life, Inc.
7.400%, due 01/13/28		2,715,000		2,682,155
Fairfax Financial Holdings Ltd.
5.625%, due 08/16/32		1,800,000		1,663,077
Fidelity National Financial, Inc.
3.400%, due 06/15/30		1,500,000		1,234,851
First American Financial Corp.
2.400%, due 08/15/31		1,645,000		1,188,197
GA Global Funding Trust
0.800%, due 09/13/243		1,400,000		1,328,054
Global Atlantic Fin Co.
7.950%, due 06/15/333,5		1,360,000		1,264,981
HUB International Ltd.
7.250%, due 06/15/303		70,000		68,282
Intact Financial Corp.
5.459%, due 09/22/323		1,220,000		1,129,859
Liberty Mutual Group, Inc.
(fixed, converts to FRN on 12/15/26),
4.125%, due 12/15/512,3		110,000		87,330
MassMutual Global Funding II
Secured Overnight Financing Rate +0.980%,
6.326%, due 07/10/262,3		200,000		200,567
Metropolitan Life Global Funding I
4.300%, due 08/25/293		2,240,000		2,057,340
Northwestern Mutual Global Funding
4.350%, due 09/15/273		985,000		935,688
Pacific Life Global Funding II
5.500%, due 07/18/283		100,000		97,885
Protective Life Global Funding
3.218%, due 03/28/253		1,755,000		1,687,831
Prudential Financial, Inc.
(fixed, converts to FRN on 02/28/32),
5.125%, due 03/01/522		70,000		59,517
Reinsurance Group of America, Inc.
6.000%, due 09/15/33		1,445,000		1,359,126
RenaissanceRe Holdings Ltd.
3.600%, due 04/15/29		1,810,000		1,578,106
5.750%, due 06/05/33		2,105,000		1,936,525
Ryan Specialty LLC
4.375%, due 02/01/303		30,000		25,696
Stewart Information Services Corp.
3.600%, due 11/15/31		2,000,000		1,423,749
Swiss Re Finance Luxembourg SA
(fixed, converts to FRN on 04/02/29),
5.000%, due 04/02/492,3		3,400,000		3,170,500
Travelers Cos., Inc.
5.450%, due 05/25/53		60,000		53,904
				33,816,381

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Corporate bonds—(continued)
Internet: 0.2%
EquipmentShare.com, Inc.
9.000%, due 05/15/283,5		45,000	$	42,300
Expedia Group, Inc.
3.800%, due 02/15/28		200,000		181,018
6.250%, due 05/01/253		196,000		195,782
Gen Digital, Inc.
6.750%, due 09/30/273		25,000		24,335
7.125%, due 09/30/303,5		25,000		24,321
Match Group Holdings II LLC
4.625%, due 06/01/283		45,000		40,405
5.625%, due 02/15/293		35,000		31,593
Northwest Fiber LLC/Northwest Fiber Finance Sub, Inc.
4.750%, due 04/30/273		30,000		26,775
Ziff Davis, Inc.
4.625%, due 10/15/303		68,000		56,931
				623,460
Investment companies: 0.4%
Blue Owl Capital Corp.
2.875%, due 06/11/28		1,100,000		896,498
Blue Owl Credit Income Corp.
7.750%, due 09/16/27		950,000		935,408
				1,831,906
Iron & steel: 0.1%
ATI, Inc.
4.875%, due 10/01/29		30,000		25,549
5.125%, due 10/01/31		20,000		16,500
7.250%, due 08/15/30		20,000		19,254
Carpenter Technology Corp.
7.625%, due 03/15/30		40,000		39,488
CSN Inova Ventures
6.750%, due 01/28/283,5		145,000		132,631
Metinvest BV
7.650%, due 10/01/273		25,000		15,814
7.750%, due 10/17/293		110,000		64,728
				313,964
Leisure time: 0.1%
Acushnet Co.
7.375%, due 10/15/283		10,000		10,018
Carnival Corp.
4.000%, due 08/01/283		50,000		43,491
5.750%, due 03/01/273		30,000		26,786
7.625%, due 03/01/263		25,000		24,310
9.875%, due 08/01/273,5		25,000		26,058
Carnival Holdings Bermuda Ltd.
10.375%, due 05/01/283		30,000		31,986
Lindblad Expeditions LLC
6.750%, due 02/15/273		15,000		13,670
NCL Corp. Ltd.
5.875%, due 02/15/273		30,000		27,614
Royal Caribbean Cruises Ltd.
5.500%, due 08/31/263		50,000		47,184
5.500%, due 04/01/283		45,000		41,033
7.500%, due 10/15/27		25,000		24,624
				316,774
Lodging: 0.1%
Las Vegas Sands Corp.
3.200%, due 08/08/24		200,000		194,611

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Corporate bonds—(continued)
Lodging—(continued)
Marriott International, Inc.
5.550%, due 10/15/28		200,000	$	194,899
Melco Resorts Finance Ltd.
5.625%, due 07/17/273		105,000		91,142
Wyndham Hotels & Resorts, Inc.
4.375%, due 08/15/283		60,000		52,953
Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp.
5.500%, due 03/01/253		13,000		12,763
Wynn Macau Ltd.
5.500%, due 01/15/263		75,000		69,114
				615,482
Machinery-construction & mining: 0.0%†
Manitowoc Co., Inc.
9.000%, due 04/01/263,5		25,000		24,505
Terex Corp.
5.000%, due 05/15/293		25,000		21,884
Vertiv Group Corp.
4.125%, due 11/15/283		50,000		43,700
				90,089
Machinery-diversified: 0.2%
ATS Corp.
4.125%, due 12/15/283		15,000		12,881
CNH Industrial Capital LLC
5.500%, due 01/12/29		835,000		809,357
Ingersoll Rand, Inc.
5.400%, due 08/14/28		15,000		14,616
5.700%, due 08/14/33		25,000		23,622
				860,476
Media: 0.9%
Altice Financing SA
5.000%, due 01/15/283		10,000		8,133
5.750%, due 08/15/293		25,000		19,333
CCO Holdings LLC/CCO Holdings Capital Corp.
4.250%, due 02/01/313		15,000		11,673
4.250%, due 01/15/343		30,000		21,669
4.500%, due 08/15/303		45,000		36,083
4.500%, due 05/01/32		15,000		11,482
4.500%, due 06/01/333		15,000		11,189
4.750%, due 03/01/303		65,000		53,620
4.750%, due 02/01/323		40,000		31,222
5.000%, due 02/01/283		20,000		17,959
6.375%, due 09/01/293,5		25,000		22,880
7.375%, due 03/01/313		1,300,000		1,228,527
Charter Communications Operating LLC/Charter Communications Operating Capital
2.250%, due 01/15/29		200,000		161,951
3.500%, due 06/01/41		200,000		119,840
3.900%, due 06/01/52		200,000		112,890
4.800%, due 03/01/50		565,000		372,443
Comcast Corp.
2.937%, due 11/01/56		685,000		362,912
CSC Holdings LLC
3.375%, due 02/15/313		55,000		35,177
4.125%, due 12/01/303		50,000		33,498
6.500%, due 02/01/293		45,000		35,581

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Corporate bonds—(continued)
Media—(continued)
Discovery Communications LLC
4.650%, due 05/15/50		280,000	$	184,181
Fox Corp.
5.576%, due 01/25/49		310,000		244,237
McGraw-Hill Education, Inc.
5.750%, due 08/01/283		30,000		25,284
Midcontinent Communications/Midcontinent Finance Corp.
5.375%, due 08/15/273		25,000		22,688
Paramount Global
4.200%, due 05/19/325		515,000		397,626
Sirius XM Radio, Inc.
3.875%, due 09/01/313		25,000		18,830
4.125%, due 07/01/303		80,000		63,521
5.500%, due 07/01/293		5,000		4,430
Virgin Media Secured Finance PLC
5.500%, due 05/15/293		50,000		44,275
				3,713,134
Mining: 0.3%
Arsenal AIC Parent LLC
8.000%, due 10/01/303		25,000		24,687
Corp. Nacional del Cobre de Chile
3.150%, due 01/14/303		125,000		103,062
First Quantum Minerals Ltd.
7.500%, due 04/01/253		35,000		32,641
8.625%, due 06/01/313		20,000		16,850
FMG Resources August 2006 Pty. Ltd.
5.875%, due 04/15/303		25,000		22,435
6.125%, due 04/15/323		25,000		22,066
Glencore Funding LLC
6.125%, due 10/06/283		825,000		817,856
Hudbay Minerals, Inc.
4.500%, due 04/01/263		70,000		65,150
6.125%, due 04/01/293		50,000		44,740
Novelis Corp.
3.875%, due 08/15/313		50,000		39,050
Volcan Cia Minera SAA
4.375%, due 02/11/263		22,000		10,413
				1,198,950
Office & business equipment: 0.0%†
CDW LLC/CDW Finance Corp.
3.569%, due 12/01/31		51,000		40,895
Oil & gas: 0.4%
Ascent Resources Utica Holdings LLC/ARU Finance Corp.
7.000%, due 11/01/263		50,000		48,284
Borr IHC Ltd./Borr Finance LLC
10.000%, due 11/15/283		20,000		19,905
10.375%, due 11/15/303		15,000		14,872
BP Capital Markets America, Inc.
3.633%, due 04/06/30		225,000		198,749
BP Capital Markets PLC
(fixed, converts to FRN on 06/22/30),
4.875%, due 03/22/302,8		540,000		470,081
Chesapeake Energy Corp.
6.750%, due 04/15/293		55,000		53,815

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Corporate bonds—(continued)
Oil & gas—(continued)
Civitas Resources, Inc.
8.375%, due 07/01/283		30,000	$	30,185
8.625%, due 11/01/303		45,000		45,802
8.750%, due 07/01/313		30,000		30,278
Comstock Resources, Inc.
5.875%, due 01/15/303		25,000		21,375
6.750%, due 03/01/293		80,000		72,802
Continental Resources, Inc.
5.750%, due 01/15/313		200,000		185,477
Diamond Foreign Asset Co./Diamond Finance LLC
8.500%, due 10/01/303		15,000		14,621
Ecopetrol SA
5.875%, due 05/28/45		65,000		42,068
FORESEA Holding SA
7.500%, due 06/15/306		20,272		18,752
Hilcorp Energy I LP/Hilcorp Finance Co.
5.750%, due 02/01/293		29,000		26,108
6.000%, due 04/15/303		30,000		26,633
6.000%, due 02/01/313		11,000		9,636
6.250%, due 11/01/283		25,000		23,374
KazMunayGas National Co. JSC
5.750%, due 04/19/473		65,000		48,197
Medco Bell Pte. Ltd.
6.375%, due 01/30/273		55,000		51,494
Nabors Industries, Inc.
7.375%, due 05/15/273		35,000		32,540
Northern Oil & Gas, Inc.
8.125%, due 03/01/283		30,000		29,626
Permian Resources Operating LLC
7.000%, due 01/15/323		45,000		43,623
Pertamina Persero PT
6.450%, due 05/30/443		40,000		36,874
Petrobras Global Finance BV
5.500%, due 06/10/515		15,000		11,166
Petroleos Mexicanos
6.350%, due 02/12/48		85,000		46,431
Pioneer Natural Resources Co.
5.100%, due 03/29/26		100,000		98,897
Range Resources Corp.
8.250%, due 01/15/29		30,000		30,637
Rio Oil Finance Trust
Series 2014-1,
9.250%, due 07/06/243		32,517		32,684
Rockcliff Energy II LLC
5.500%, due 10/15/293		25,000		22,565
Southwestern Energy Co.
4.750%, due 02/01/32		85,000		73,099
				1,910,650
Oil & gas services: 0.0%†
Odebrecht Oil & Gas Finance Ltd.
0.000%, due 12/01/233,8,9		74,037		1,111
Packaging & containers: 0.4%
Amcor Finance USA, Inc.
5.625%, due 05/26/335		940,000		875,470

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Corporate bonds—(continued)
Packaging & containers—(continued)
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC
6.000%, due 06/15/273		75,000	$	70,877
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc.
4.125%, due 08/15/263		30,000		26,475
Ball Corp.
2.875%, due 08/15/30		15,000		11,701
3.125%, due 09/15/315		15,000		11,612
6.000%, due 06/15/29		30,000		28,765
6.875%, due 03/15/28		25,000		24,926
Berry Global, Inc.
5.625%, due 07/15/273,5		30,000		28,636
Intelligent Packaging Ltd. Finco, Inc./Intelligent Packaging Ltd. Co.-Issuer LLC
6.000%, due 09/15/283		55,000		45,075
Mauser Packaging Solutions Holding Co.
7.875%, due 08/15/263		65,000		60,880
Pactiv Evergreen Group Issuer LLC/Pactiv Evergreen Group Issuer, Inc.
4.375%, due 10/15/283		50,000		42,531
Pactiv Evergreen Group Issuer, Inc./Pactiv Evergreen Group Issuer LLC
4.000%, due 10/15/273,5		5,000		4,362
Sealed Air Corp./Sealed Air Corp. U.S.
6.125%, due 02/01/283		45,000		42,832
Trivium Packaging Finance BV
5.500%, due 08/15/263		45,000		40,792
WRKCo, Inc.
4.650%, due 03/15/26		200,000		193,783
4.900%, due 03/15/29		100,000		94,587
				1,603,304
Pharmaceuticals: 1.6%
180 Medical, Inc.
3.875%, due 10/15/293		45,000		37,385
AbbVie, Inc.
3.800%, due 03/15/25		305,000		296,899
4.700%, due 05/14/45		120,000		97,558
Bayer U.S. Finance II LLC
3 mo. USD Term SOFR +1.272%,
6.681%, due 12/15/232,3		300,000		300,047
Bristol-Myers Squibb Co.
5.750%, due 02/01/31		1,310,000		1,302,046
Cigna Group
4.375%, due 10/15/28		1,400,000		1,308,492
CVS Health Corp.
5.050%, due 03/25/48		575,000		451,999

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Corporate bonds—(continued)
Pharmaceuticals—(continued)
CVS Pass-Through Trust
Series 2013,
4.704%, due 01/10/363		2,439,387	$	2,116,554
Merck & Co., Inc.
2.900%, due 12/10/61		200,000		107,546
Pfizer Investment Enterprises Pte. Ltd.
4.750%, due 05/19/33		200,000		183,801
5.340%, due 05/19/63		110,000		94,232
Teva Pharmaceutical Finance Netherlands III BV
7.875%, due 09/15/295		743,000		728,697
				7,025,256
Pipelines: 3.2%
Antero Midstream Partners LP/Antero Midstream Finance Corp.
7.875%, due 05/15/263		25,000		25,176
Blue Racer Midstream LLC/Blue Racer Finance Corp.
7.625%, due 12/15/253		20,000		20,029
Buckeye Partners LP
4.500%, due 03/01/283		45,000		39,150
5.600%, due 10/15/44		45,000		30,206
5.850%, due 11/15/43		35,000		24,734
Cheniere Energy Partners LP
3.250%, due 01/31/32		200,000		155,087
CQP Holdco LP/BIP-V Chinook Holdco LLC
5.500%, due 06/15/313,5		105,000		91,324
Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp.
7.375%, due 02/01/313		1,540,000		1,552,335
DT Midstream, Inc.
4.125%, due 06/15/293		110,000		94,579
Enbridge, Inc.
2.500%, due 02/14/25		210,000		200,847
Energy Transfer LP
5.250%, due 04/15/29		200,000		189,814
6.100%, due 12/01/28		200,000		197,512
Series A,
3 mo. USD LIBOR + 4.028%,
9.654%, due 11/16/232,5,8		3,190,000		3,006,049
EnLink Midstream LLC
6.500%, due 09/01/303		1,445,000		1,387,011
Enterprise Products Operating LLC
4.200%, due 01/31/50		300,000		219,735
EQM Midstream Partners LP
4.500%, due 01/15/293		30,000		26,307
5.500%, due 07/15/28		25,000		23,332
6.000%, due 07/01/253		15,000		14,669
6.500%, due 07/01/273		50,000		48,600
7.500%, due 06/01/273		20,000		19,808
7.500%, due 06/01/303		20,000		19,623

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Corporate bonds—(continued)
Pipelines—(continued)
Genesis Energy LP/Genesis Energy Finance Corp.
6.250%, due 05/15/26		15,000	$	14,296
6.500%, due 10/01/25		20,000		19,539
7.750%, due 02/01/28		30,000		28,248
8.000%, due 01/15/27		15,000		14,404
8.875%, due 04/15/30		25,000		24,168
Harvest Midstream I LP
7.500%, due 09/01/283		1,635,000		1,549,249
Hess Midstream Operations LP
5.500%, due 10/15/303		1,800,000		1,634,050
Kinder Morgan, Inc.
5.550%, due 06/01/45		100,000		82,312
7.750%, due 01/15/32		1,400,000		1,485,890
Kinetik Holdings LP
5.875%, due 06/15/303		45,000		41,290
MPLX LP
4.700%, due 04/15/48		378,000		273,254
5.000%, due 03/01/33		200,000		177,106
New Fortress Energy, Inc.
6.500%, due 09/30/263		65,000		58,220
6.750%, due 09/15/253		65,000		60,303
NuStar Logistics LP
5.625%, due 04/28/27		15,000		14,142
5.750%, due 10/01/25		20,000		19,356
ONEOK, Inc.
5.650%, due 11/01/28		200,000		195,160
5.850%, due 01/15/26		200,000		199,802
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp.
5.500%, due 01/15/283		5,000		4,380
6.000%, due 03/01/273		30,000		27,447
6.000%, due 12/31/303		35,000		29,464
6.000%, due 09/01/313		30,000		25,244
7.500%, due 10/01/253		25,000		24,629
Venture Global Calcasieu Pass LLC
3.875%, due 08/15/293		100,000		83,218
Venture Global LNG, Inc.
8.125%, due 06/01/283		20,000		19,416
8.375%, due 06/01/313		20,000		19,085
9.500%, due 02/01/293		25,000		25,398
9.875%, due 02/01/323		20,000		20,280
Western Midstream Operating LP
6.350%, due 01/15/295		200,000		198,925
				13,754,202
Private Equity : 0.0%†
Carlyle Finance Subsidiary LLC
3.500%, due 09/19/293		200,000		176,797
Real estate: 0.0%†
Cushman & Wakefield U.S. Borrower LLC
8.875%, due 09/01/313		35,000		33,183
Greystar Real Estate Partners LLC
7.750%, due 09/01/303		30,000		29,475

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Corporate bonds—(continued)
Real estate—(continued)
Realogy Group LLC/Realogy Co.-Issuer Corp.
5.250%, due 04/15/303,5		15,000	$	9,339
5.750%, due 01/15/293		65,000		40,963
				112,960
Real estate investment trusts: 3.7%
American Tower Corp.
2.400%, due 03/15/25		165,000		156,689
Arbor Realty SR, Inc.
Series QIB,
8.500%, due 10/15/273		2,395,000		2,262,911
Blackstone Mortgage Trust, Inc.
3.750%, due 01/15/273,5		3,450,000		2,868,797
Extra Space Storage LP
5.500%, due 07/01/30		1,350,000		1,276,941
5.700%, due 04/01/28		595,000		579,816
Federal Realty OP LP
5.375%, due 05/01/28		1,160,000		1,118,127
HAT Holdings I LLC/HAT Holdings II LLC
3.375%, due 06/15/263		1,900,000		1,672,415
Iron Mountain, Inc.
4.875%, due 09/15/273		15,000		13,712
4.875%, due 09/15/293		45,000		39,198
5.000%, due 07/15/283		10,000		8,949
5.250%, due 03/15/283		45,000		41,159
5.250%, due 07/15/303		20,000		17,361
5.625%, due 07/15/323		20,000		17,085
MPT Operating Partnership LP/MPT Finance Corp.
5.000%, due 10/15/275		25,000		19,301
5.250%, due 08/01/265		25,000		21,525
Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer
4.875%, due 05/15/293		50,000		41,730
5.875%, due 10/01/283,5		45,000		40,509
Rexford Industrial Realty LP
5.000%, due 06/15/28		1,105,000		1,044,286
RHP Hotel Properties LP/RHP Finance Corp.
4.750%, due 10/15/27		50,000		45,430
7.250%, due 07/15/283		30,000		29,081
RLJ Lodging Trust LP
4.000%, due 09/15/293,5		50,000		40,750
SBA Tower Trust
6.599%, due 01/15/283		3,100,000		3,093,306
Scentre Group Trust 1/Scentre Group Trust 2
4.375%, due 05/28/303		1,715,000		1,528,162
Service Properties Trust
3.950%, due 01/15/28		35,000		26,169
Uniti Group LP/Uniti Group Finance, Inc./CSL Capital LLC
4.750%, due 04/15/283		70,000		56,572
XHR LP
4.875%, due 06/01/293,5		40,000		33,843
				16,093,824

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Corporate bonds—(continued)
Retail: 0.6%
1011778 BC ULC/New Red Finance, Inc.
4.000%, due 10/15/303		35,000	$	28,666
Asbury Automotive Group, Inc.
4.625%, due 11/15/293		25,000		21,147
Bath & Body Works, Inc.
6.625%, due 10/01/303		70,000		64,806
6.875%, due 11/01/355		20,000		17,649
Beacon Roofing Supply, Inc.
6.500%, due 08/01/303		25,000		23,871
GYP Holdings III Corp.
4.625%, due 05/01/293		20,000		16,400
Macy's Retail Holdings LLC
4.500%, due 12/15/34		30,000		20,100
5.125%, due 01/15/42		5,000		3,079
5.875%, due 04/01/293,5		20,000		17,632
5.875%, due 03/15/303,5		430,000		363,775
6.125%, due 03/15/323,5		30,000		24,776
McDonald's Corp.
3.625%, due 09/01/49		130,000		86,162
Nordstrom, Inc.
4.375%, due 04/01/305		1,960,000		1,521,381
PetSmart, Inc./PetSmart Finance Corp.
4.750%, due 02/15/283		25,000		22,122
SRS Distribution, Inc.
4.625%, due 07/01/283		15,000		13,085
Walmart, Inc.
3.900%, due 09/09/25		260,000		253,990
Yum! Brands, Inc.
3.625%, due 03/15/315		45,000		36,541
5.375%, due 04/01/325		55,000		49,440
				2,584,622
Savings & loans: 0.1%
Nationwide Building Society
(fixed, converts to FRN on 02/16/27),
2.972%, due 02/16/282,3		200,000		177,711
(fixed, converts to FRN on 10/18/26),
6.557%, due 10/18/272,3		250,000		249,599
				427,310
Semiconductors: 0.8%
ams-OSRAM AG
7.000%, due 07/31/253		1,685,000		1,653,710
Analog Devices, Inc.
2.950%, due 10/01/51		75,000		43,942
Broadcom, Inc.
3.137%, due 11/15/353		512,000		361,163
4.926%, due 05/15/373		268,000		223,358
Micron Technology, Inc.
4.975%, due 02/06/26		200,000		194,905
NXP BV/NXP Funding LLC
4.875%, due 03/01/24		200,000		198,972
NXP BV/NXP Funding LLC/NXP USA, Inc.
5.000%, due 01/15/33		415,000		368,994
ON Semiconductor Corp.
3.875%, due 09/01/283		15,000		12,886
QUALCOMM, Inc.
6.000%, due 05/20/53		190,000		182,850
				3,240,780

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Corporate bonds—(continued)
Shipbuilding: 0.0%†
Huntington Ingalls Industries, Inc.
2.043%, due 08/16/28		200,000	$	166,545
Software: 0.2%
Central Parent LLC/CDK Global II LLC/CDK Financing Co., Inc.
8.000%, due 06/15/293		5,000		4,939
Consensus Cloud Solutions, Inc.
6.500%, due 10/15/283,5		30,000		24,863
Intuit, Inc.
5.500%, due 09/15/53		50,000		45,485
Oracle Corp.
2.875%, due 03/25/31		200,000		160,312
3.850%, due 04/01/60		200,000		120,040
3.950%, due 03/25/51		215,000		139,565
4.000%, due 11/15/47		345,000		229,369
4.650%, due 05/06/30		100,000		91,677
5.550%, due 02/06/53		210,000		174,466
RingCentral, Inc.
8.500%, due 08/15/303		25,000		23,750
ZoomInfo Technologies LLC/ZoomInfo Finance Corp.
3.875%, due 02/01/293,5		20,000		16,511
				1,030,977
Telecommunications: 0.9%
Altice France SA
5.125%, due 07/15/293		55,000		37,656
5.875%, due 02/01/273		200,000		175,200
AT&T, Inc.
3.500%, due 09/15/53		275,000		161,934
C&W Senior Financing DAC
6.875%, due 09/15/273		45,000		38,466
Ciena Corp.
4.000%, due 01/31/303,5		15,000		12,499
CommScope, Inc.
4.750%, due 09/01/293,5		105,000		71,662
Connect Finco SARL/Connect U.S. Finco LLC
6.750%, due 10/01/263		1,665,000		1,552,673
Frontier Communications Holdings LLC
5.875%, due 10/15/273		85,000		77,492
8.750%, due 05/15/303		30,000		28,583
Iliad Holding SASU
7.000%, due 10/15/283		30,000		27,149
Level 3 Financing, Inc.
3.750%, due 07/15/293		50,000		25,421
4.625%, due 09/15/273		30,000		19,950
10.500%, due 05/15/303,5		30,000		30,023
Motorola Solutions, Inc.
2.300%, due 11/15/30		200,000		152,866
Oztel Holdings SPC Ltd.
6.625%, due 04/24/283		110,000		109,352
Rogers Communications, Inc.
3.800%, due 03/15/32		114,000		92,449

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Corporate bonds—(continued)
Telecommunications—(continued)
T-Mobile USA, Inc.
2.550%, due 02/15/31		200,000	$	155,829
3.400%, due 10/15/52		370,000		218,968
4.500%, due 04/15/50		205,000		149,556
4.800%, due 07/15/285		100,000		95,146
Verizon Communications, Inc.
2.355%, due 03/15/32		275,000		205,631
2.987%, due 10/30/56		210,000		110,490
Vmed O2 U.K. Financing I PLC
4.750%, due 07/15/313		45,000		36,221
Vodafone Group PLC
4.875%, due 06/19/49		275,000		208,017
				3,793,233
Transportation: 0.0%†
Forward Air Corp.
9.500%, due 10/15/313		100,000		97,500
MV24 Capital BV
6.748%, due 06/01/343		33,624		28,942
XPO, Inc.
7.125%, due 06/01/313		25,000		24,356
				150,798
Trucking & leasing: 0.4%
Penske Truck Leasing Co. LP/PTL Finance Corp.
5.550%, due 05/01/283		735,000		707,727
5.700%, due 02/01/283		980,000		946,727
				1,654,454
Water: 0.0%†
Solaris Midstream Holdings LLC
7.625%, due 04/01/263		40,000		38,158
Total corporate bonds (cost—$238,448,939)				218,094,761
Loan assignments—5.3%
Aerospace & defense: 0.3%
Propulsion BC Newco LLC
3 mo. USD SOFR,
0.000%, due 09/14/292		1,135,000		1,127,623
Total aerospace & defense				1,127,623
Chemicals: 0.3%
INEOS Enterprises Holdings US Finco LLC
3 mo. USD Term SOFR + 3.750%,
9.272%, due 06/23/302		1,340,000		1,310,962
Total chemicals				1,310,962
Commercial services: 0.6%
MPH Acquisition Holdings LLC
2021 Term Loan B,
3 mo. USD LIBOR + 4.250%,
9.916%, due 09/01/282		1,682,828		1,558,484
Verscend Holding Corp.
2021 Term Loan B,
1 mo. USD Term SOFR + 4.000%,
9.439%, due 08/27/252		1,093,810		1,092,213
Total Commercial services				2,650,697
Diversified financial services: 0.3%
LendingTree, Inc.
3 mo. USD Term SOFR,
9.196%, due 09/15/282		1,602,827		1,301,495
Total Diversified financial services				1,301,495
Electric: 0.0%†
Lightstone Holdco LLC
2022 Extended Term Loan B,
3 mo. USD Term SOFR + 5.750%,
11.133%, due 01/29/272		88,945		83,408

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Loan assignments—(continued)
Electric—(continued)
2022 Extended Term Loan C,
1 mo. USD Term SOFR + 5.750%,
11.133%, due 01/29/272		5,030	$	4,717
Total electric				88,125
Environmental control: 0.3%
MIP V Waste Holdings LLC
1 mo. USD Term SOFR + 3.250%,
8.689%, due 12/08/282		1,452,626		1,445,363
Total Environmental control				1,445,363
Health care products: 0.9%
Medline Borrower LP
USD Term Loan B,
1 mo. USD Term SOFR + 3.250%,
8.689%, due 10/23/282		1,613,618		1,602,533
Sotera Health Holdings LLC
1 mo. USD Term SOFR + 3.750%,
9.089%, due 12/11/262		2,448,863		2,442,740
Total Health care products				4,045,273
Pharmaceuticals: 0.4%
Jazz Financing Lux SARL
USD Term Loan,
1 mo. USD Term SOFR + 3.500%,
8.939%, due 05/05/282		1,542,486		1,541,623
Total Pharmaceuticals				1,541,623
Pipelines: 1.0%
AL NGPL Holdings LLC
1 mo. USD Term SOFR + 3.750%,
9.342%, due 04/13/282		1,516,770		1,505,394
BCP Renaissance Parent LLC
1 mo. USD Term SOFR,
8.835%, due 10/31/282		1,344,349		1,335,947
Prairie ECI Acquiror LP
Term Loan B,
1 mo. USD Term SOFR + 4.750%,
10.174%, due 03/11/262		70,000		69,738
UGI Energy Services LLC
1 mo. USD Term SOFR + 3.250%,
8.674%, due 02/22/302		1,539,350		1,535,255
Total Pipelines				4,446,334
Real estate investment trusts: 0.2%
Starwood Property Trust, Inc.
2022 Term Loan B,
1 mo. USD Term SOFR + 3.250%,
8.574%, due 11/18/272		1,012,350		1,005,395
Total Real estate investment trusts				1,005,395
Software: 0.4%
Central Parent, Inc.
3 mo. USD Term SOFR + 4.000%,
9.406%, due 07/06/292		1,488,750		1,479,013
Polaris Newco LLC
USD Term Loan B,
1 mo. USD Term SOFR + 4.000%,
9.439%, due 06/02/282		9,899		9,330
Total software				1,488,343
Telecommunications: 0.6%
CenturyLink, Inc.
2020 Term Loan A,
1 mo. USD Term SOFR + 2.000%,
7.439%, due 01/31/252		1,324,831		1,248,654

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Loan assignments—(continued)
Telecommunications—(continued)
Iridium Satellite LLC
1 mo. USD Term SOFR + 2.500%,
7.824%, due 09/20/302		1,396,152	$	1,393,317
Total telecommunications				2,641,971
Total loan assignments (cost—$23,232,180)				23,093,204
Mortgage-backed securities—9.9%
Adjustable Rate Mortgage Trust,
Series 2005-5, Class 2A1,
4.605%, due 09/25/352		29,919		25,087
Banc of America Funding Trust,
Series 2005-D, Class A1,
4.674%, due 05/25/352		163,539		147,716
Bank,
Series 2021-BN38, Class C,
3.217%, due 12/15/642		51,000		29,776
Series 2019-BN17, Class C,
4.511%, due 04/15/522		72,000		52,886
Bank of America Mortgage Trust,
Series 2002-G, Class 1A3,
5.750%, due 07/20/322		72		66
BBCMS Mortgage Trust,
Series 2022-C17, Class XA,
1.151%, due 09/15/552		1,300,982		96,193
Series 2019-C5, Class C,
3.710%, due 11/15/52		59,000		43,043
BCP Trust,
Series 2021-330N, Class A,
1 mo. USD Term SOFR + 0.913%,
6.249%, due 06/15/382,3		500,000		443,599
Bear Stearns ALT-A Trust,
Series 2006-1, Class 21A2,
4.189%, due 02/25/362		268,029		181,994
Series 2005-7, Class 22A1,
4.611%, due 09/25/352		256,411		149,604
Series 2004-9, Class 2A1,
4.922%, due 09/25/342		76,916		68,717
Series 2003-3, Class 1A,
5.044%, due 10/25/332		1,093		1,016
Bear Stearns ARM Trust,
Series 2004-7, Class 1A1,
0.000%, due 10/25/349		88,907		72,308
Series 2004-6, Class 2A1,
3.985%, due 09/25/342		166,878		150,936
Series 2003-5, Class 2A1,
4.450%, due 08/25/332		37,720		33,758
Series 2003-1, Class 6A1,
4.500%, due 04/25/332		3,230		3,137
Series 2004-3, Class 1A2,
4.748%, due 07/25/342		42,149		39,019
Benchmark Mortgage Trust,
Series 2020-B17, Class C,
3.371%, due 03/15/532		143,000		96,728

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Mortgage-backed securities—(continued)
Series 2020-B16, Class C,
3.654%, due 02/15/532		118,000	$	82,575
Series 2019-B10, Class B,
4.180%, due 03/15/622		56,000		43,102
BPR Trust,
Series 2022-OANA, Class D,
1 mo. USD Term SOFR + 3.695%,
9.030%, due 04/15/372,3		348,000		332,067
BX Commercial Mortgage Trust,
Series 2021-VOLT, Class D,
1 mo. USD Term SOFR + 1.764%,
7.099%, due 09/15/362,3		385,000		367,544
BX Trust,
Series 2019-OC11, Class C,
3.856%, due 12/09/413		121,000		99,305
Series 2019-OC11, Class D,
3.944%, due 12/09/412,3		231,000		185,410
Series 2022-CLS, Class B,
6.300%, due 10/13/273		2,700,000		2,429,312
Series 2022-GPA, Class B,
1 mo. USD Term SOFR + 2.664%,
7.999%, due 08/15/412,3		1,340,000		1,340,838
Series 2022-GPA, Class C,
1 mo. USD Term SOFR + 3.213%,
8.548%, due 08/15/422,3		1,280,000		1,280,801
CAMB Commercial Mortgage Trust,
Series 2019-LIFE, Class F,
1 mo. USD Term SOFR + 2.597%,
7.932%, due 12/15/372,3		100,000		96,941
Chase Mortgage Finance Trust,
Series 2007-S6, Class 2A1,
5.500%, due 12/25/22		478,892		202,187
Series 2005-S3, Class A10,
5.500%, due 11/25/35		784,649		550,121
CHL Mortgage Pass-Through Trust,
Series 2005-HYB9, Class 5A1,
1 yr. USD Term SOFR + 2.465%,
7.940%, due 02/20/362		91,487		82,174
Citigroup Commercial Mortgage Trust,
Series 2015-GC27, Class XA,
1.303%, due 02/10/482		2,672,542		26,999
Series 2017-P8, Class C,
4.258%, due 09/15/502		68,000		54,668
Series 2023-SMRT, Class C,
5.852%, due 10/12/402,3		100,000		93,822
Series 2023-PRM3, Class C,
6.360%, due 07/10/282,3		100,000		94,383
Series 2023-PRM3, Class B,
6.360%, due 07/10/282,3		1,120,000		1,084,257

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Mortgage-backed securities—(continued)
Citigroup Mortgage Loan Trust, Inc.,
Series 2005-4, Class A,
5.893%, due 08/25/352		66,490	$	64,324
Series 2005-6, Class A2,
1 yr. CMT + 2.150%,
5.988%, due 09/25/352		6,007		5,777
Series 2005-6, Class A3,
1 yr. CMT + 1.800%,
6.285%, due 09/25/352		776		745
Series 2005-11, Class A1A,
1 yr. CMT + 2.400%,
6.980%, due 05/25/352		20,404		19,644
COMM Mortgage Trust,
Series 2014-LC15, Class XA,
1.035%, due 04/10/472		6,760,863		1,700
Series 2014-UBS3, Class XA,
1.046%, due 06/10/472		2,602,223		3,630
Countrywide Alternative Loan Trust,
Series 2005-62, Class 2A1,
1 yr. MTA + 1.000%,
5.800%, due 12/25/352		77,012		61,906
Series 2006-14CB, Class A1,
6.000%, due 06/25/36		1,174,326		603,919
Series 2006-41CB, Class 1A9,
6.000%, due 01/25/37		303,374		152,030
Series 2003-J3, Class 2A1,
6.250%, due 12/25/33		8,472		8,018
CRSO Trust
7.913%, due 07/10/282		1,130,000		1,096,184
CSAIL Commercial Mortgage Trust,
Series 2018-C14, Class C,
4.900%, due 11/15/512		98,000		73,212
DC Commercial Mortgage Trust,
Series 2023-DC, Class B,
6.804%, due 09/12/403		860,000		847,060
DSLA Mortgage Loan Trust,
Series 2005-AR4, Class 2A1A,
1 mo. USD Term SOFR + 0.634%,
5.968%, due 08/19/452		102,104		82,866
Eleven Madison Trust Mortgage Trust,
Series 2015-11MD, Class A,
3.555%, due 09/10/352,3		155,000		137,962
FHLMC Multiclass Certificates,
Series 2020-RR04, Class X,
2.126%, due 02/27/292		3,460,000		281,193
FHLMC REMIC ,
Series 2764, Class LZ,
4.500%, due 03/15/34		213,948		201,920
Series 2921, Class PG,
5.000%, due 01/15/35		504,056		481,258
Series 2764, Class ZG,
5.500%, due 03/15/34		157,988		153,186

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Mortgage-backed securities—(continued)
Series 2400, Class FQ,
30 day USD SOFR Average + 0.614%,
5.935%, due 01/15/322		6,759	$	6,745
Series 2983, Class TZ,
6.000%, due 05/15/35		474,473		463,014
Series 3149, Class CZ,
6.000%, due 05/15/36		586,566		576,147
FHLMC Structured Agency Credit Risk Debt Notes,
Series 2021-DNA7, Class M2,
30 day USD SOFR Average + 1.800%,
7.121%, due 11/25/412,3		130,000		127,687
Series 2018-HQA1, Class M2,
30 day USD SOFR Average + 2.414%,
7.735%, due 09/25/302		495,091		503,169
Series 2022-DNA3, Class M1B,
30 day USD SOFR Average + 2.900%,
8.221%, due 04/25/422,3		210,000		213,937
Series 2022-DNA4, Class M1B,
30 day USD SOFR Average + 3.350%,
8.671%, due 05/25/422,3		436,000		450,114
Series 2022-DNA6, Class M1B,
30 day USD SOFR Average + 3.700%,
9.021%, due 09/25/422,3		362,000		379,383
Series 2022-DNA2, Class M2,
30 day USD SOFR Average + 3.750%,
9.071%, due 02/25/422,3		326,000		330,483
Series 2022-DNA5, Class M1B,
30 day USD SOFR Average + 4.500%,
9.821%, due 06/25/422,3		192,000		204,471
Series 2022-HQA1, Class M2,
30 day USD SOFR Average + 5.250%,
10.571%, due 03/25/422,3		383,000		402,031
FHLMC Structured Pass-Through Certificates,
Series T-54, Class 2A,
6.500%, due 02/25/43		319,632		311,578
Series T-58, Class 2A,
6.500%, due 09/25/43		153,696		151,060
First Horizon Mortgage Pass-Through Trust,
Series 2005-AR3, Class 2A1,
5.465%, due 08/25/352		8,007		5,476
FIVE Mortgage Trust,
Series 2023-V1, Class C,
6.405%, due 02/10/562		96,000		85,773
FNMA Connecticut Avenue Securities,
Series 2022-R01, Class 1M2,
30 day USD SOFR Average + 1.900%,
7.221%, due 12/25/412,3		343,000		337,859

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Mortgage-backed securities—(continued)
Series 2017-C06, Class 1M2,
30 day USD SOFR Average + 2.764%,
8.085%, due 02/25/302		153,519	$	156,764
Series 2017-C06, Class 2M2,
30 day USD SOFR Average + 2.914%,
8.235%, due 02/25/302		162,558		167,165
Series 2022-R07, Class 1M1,
30 day USD SOFR Average + 2.950%,
8.271%, due 06/25/422,3		144,753		148,047
Series 2022-R04, Class 1M2,
30 day USD SOFR Average + 3.100%,
8.421%, due 03/25/422,3		191,000		194,448
Series 2022-R01, Class 1B1,
30 day USD SOFR Average + 3.150%,
8.471%, due 12/25/412,3		178,000		177,445
Series 2023-R02, Class 1M2,
30 day USD SOFR Average + 3.350%,
8.671%, due 01/25/432,3		144,000		147,701
Series 2022-R03, Class 1M2,
30 day USD SOFR Average + 3.500%,
8.821%, due 03/25/422,3		475,000		493,476
Series 2023-R01, Class 1M2,
30 day USD SOFR Average + 3.750%,
9.071%, due 12/25/422,3		227,000		238,105
Series 2022-R08, Class 1B1,
30 day USD SOFR Average + 5.600%,
10.921%, due 07/25/422,3		336,000		360,268
FNMA REMIC,
Series 2006-65, Class GD,
6.000%, due 07/25/26		21,237		21,037
Series 2003-64, Class AH,
6.000%, due 07/25/33		624,073		616,628
Series 1999-W4, Class A9,
6.250%, due 02/25/29		58,826		58,188
Series 2004-W8, Class 2A,
6.500%, due 06/25/44		175,320		174,016
GNMA,
Series 2020-86, Class WK,
1.000%, due 06/20/50		231,505		167,574
Series 2020-107, Class AB,
1.000%, due 07/20/50		300,612		214,888
Series 2020-112, Class KA,
1.000%, due 08/20/50		245,024		176,527
Series 2021-119, Class NC,
1.500%, due 07/20/51		219,951		169,648
Series 2021-103, Class HE,
2.000%, due 06/20/51		217,282		171,201
Series 2018-38, Class WF,
1 mo. USD Term SOFR + 0.414%,
5.729%, due 10/20/432		676,134		633,985

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Mortgage-backed securities—(continued)
Series 2017-182, Class FW,
1 mo. USD Term SOFR + 0.464%,
5.779%, due 05/20/472		225,011	$	208,621
Series 2015-H20, Class FB,
1 mo. USD Term SOFR + 0.714%,
6.043%, due 08/20/652		710,808		704,283
GS Mortgage Securities Trust,
Series 2019-GC42, Class C,
3.692%, due 09/10/522		122,000		86,929
Series 2015-GS1, Class AS,
4.037%, due 11/10/482		169,000		149,691
GSR Mortgage Loan Trust,
Series 2005-AR6, Class 2A1,
4.437%, due 09/25/352		80,607		73,473
HarborView Mortgage Loan Trust,
Series 2005-4, Class 3A1,
4.186%, due 07/19/352		110,280		78,152
Series 2004-11, Class 3A1A,
1 mo. USD Term SOFR + 0.814%,
6.148%, due 01/19/352		15,778		13,648
INTOWN Mortgage Trust,
Series 2022-STAY, Class A,
1 mo. USD Term SOFR + 2.489%,
7.823%, due 08/15/392,3		272,000		271,830
J.P. Morgan Chase Commercial Mortgage Securities Trust,
Series 2022-OPO, Class D,
3.450%, due 01/05/392,3		284,000		143,420
JP Morgan Mortgage Trust,
Series 2006-A4, Class 2A2,
4.535%, due 06/25/362		135,235		96,077
Series 2005-A8, Class 1A1,
4.891%, due 11/25/352		270,206		216,793
Manhattan West Mortgage Trust,
Series 2020-1MW, Class D,
2.335%, due 09/10/392,3		100,000		80,618
Morgan Stanley Bank of America Merrill Lynch Trust,
Series 2017-C33, Class C,
4.558%, due 05/15/502		103,000		85,567
Morgan Stanley Capital I Trust,
Series 2017-H1, Class B,
4.075%, due 06/15/50		44,000		37,826
Series 2017-H1, Class C,
4.281%, due 06/15/502		123,000		98,711
Series 2018-H4, Class C,
5.062%, due 12/15/512		80,000		63,117
MSWF Commercial Mortgage Trust,
Series 2023-1, Class C,
6.683%, due 05/15/562		73,000		62,536

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Mortgage-backed securities—(continued)
MTN Commercial Mortgage Trust,
Series 2022-LPFL, Class A,
1 mo. USD Term SOFR + 1.397%,
6.737%, due 03/15/392,3		2,650,000	$	2,590,369
NAAC Reperforming Loan REMIC Trust Certificates,
Series 2004-R3, Class A1,
6.500%, due 02/25/353		380,270		328,389
OAKST Commercial Mortgage Trust,
Series 2023-NLP, Class A,
6.095%, due 03/15/402,3		2,640,000		2,571,310
One Bryant Park Trust,
Series 2019-OBP, Class A,
2.516%, due 09/15/543		3,100,000		2,427,522
Onslow Bay Mortgage Loan Trust,
Series 2021-NQM4, Class A1,
1.957%, due 10/25/612,3		303,339		234,111
ORL Trust,
Series 2023-GLKS, Class D,
1 mo. USD Term SOFR + 4.301%,
9.636%, due 10/15/282,3		128,000		127,520
Reperforming Loan REMIC Trust,
Series 2003-R4, Class 2A,
4.436%, due 01/25/342,3		373,709		297,933
Series 2006-R1, Class AF1,
1 mo. USD Term SOFR + 0.454%,
5.779%, due 01/25/362,3		299,377		273,357
Residential Funding Mtg Sec I Trust,
Series 2004-S9, Class 1A23,
5.500%, due 12/25/34		148,552		131,027
SCOTT Trust,
Series 2023-SFS, Class A,
5.910%, due 03/15/403		1,125,000		1,073,314
Sequoia Mortgage Trust,
Series 2007-3, Class 1A1,
1 mo. USD Term SOFR + 0.514%,
5.854%, due 07/20/362		43,475		36,133
SG Residential Mortgage Trust,
Series 2021-2, Class A1,
1.737%, due 12/25/612,3		482,850		366,467
Starwood Mortgage Residential Trust,
Series 2021-5, Class A1,
1.920%, due 09/25/662,3		970,672		774,809
Structured Adjustable Rate Mortgage Loan Trust,
Series 2004-8, Class 3A,
6.170%, due 07/25/342		138,804		130,228
Structured Asset Mortgage Investments II Trust,
Series 2006-AR3, Class 11A1,
1 mo. USD Term SOFR + 0.534%,
5.859%, due 04/25/362		363,566		311,349

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Mortgage-backed securities—(continued)
Structured Asset Mortgage Investments Trust,
Series 2002-AR3, Class A1,
1 mo. USD Term SOFR + 0.774%,
6.108%, due 09/19/322		19,147	$	18,130
Taubman Centers Commercial Mortgage Trust,
Series 2022-DPM, Class B,
1 mo. USD Term SOFR + 2.932%,
8.267%, due 05/15/372,3		179,000		174,749
Series 2022-DPM, Class C,
1 mo. USD Term SOFR + 3.777%,
9.112%, due 05/15/372,3		150,000		145,121
Thornburg Mortgage Securities Trust,
Series 2007-4, Class 2A1,
3.758%, due 09/25/372		103,065		99,518
Towd Point Mortgage Trust,
Series 2022-4, Class A1,
3.750%, due 09/25/623		240,747		213,323
Verus Securitization Trust,
Series 2021-6, Class A1,
1.630%, due 10/25/662,3		916,468		724,683
Series 2021-6, Class A3,
1.887%, due 10/25/662,3		235,890		183,955
Series 2022-4, Class A3,
4.740%, due 04/25/672,3		119,227		107,182
WaMu Mortgage Pass-Through Certificates Trust,
Series 2006-AR2, Class 2A1,
3.597%, due 03/25/362		315,343		262,065
Series 2006-AR9, Class 1A,
1 yr. MTA + 1.000%,
5.800%, due 08/25/462		242,856		215,628
Series 2005-AR13, Class A1A1,
1 mo. USD Term SOFR + 0.694%,
6.019%, due 10/25/452		189,471		175,845
Series 2002-AR6, Class A,
1 yr. MTA + 1.400%,
6.200%, due 06/25/422		4,978		4,450
Wells Fargo Commercial Mortgage Trust,
Series 2016-NXS6, Class B,
3.811%, due 11/15/49		143,000		124,207
Series 2015-NXS4, Class C,
4.685%, due 12/15/482		54,000		48,289
WFRBS Commercial Mortgage Trust,
Series 2014-C22, Class XA,
0.761%, due 09/15/572		5,127,926		17,432
Series 2014-LC14, Class XA,
1.183%, due 03/15/472		1,592,061		16

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Mortgage-backed securities—(continued)
WMRK Commercial Mortgage Trust,
Series 2022-WMRK, Class C,
1 mo. USD Term SOFR + 4.083%,
9.418%, due 11/15/272,3		3,100,000	$	3,076,696
Total mortgage-backed securities (cost—$46,273,029)				43,131,080
Municipal bonds—0.3%
Illinois: 0.3%
Sales Tax Securitization Corp. Second Lien, Refunding, Revenue Bonds,
Series B,
3.057%, due 01/01/34		1,400,000		1,090,113
Texas: 0.0%†
Texas Natural Gas Securitization Finance Corp., Revenue Bonds,
5.102%, due 04/01/35		100,000		96,777
Total municipal bonds (cost—$1,346,421)				1,186,890
Non-U.S. government agency obligations: 0.6%
Brazil: 0.1%
Brazil Letras do Tesouro Nacional
0.000%, due 01/01/249	BRL	1,000,000		194,775
Colombia: 0.0%†
Colombia Government International Bonds
3.000%, due 01/30/30		50,000		38,400
Dominican Republic: 0.0%†
Dominican Republic International Bonds
6.850%, due 01/27/453		110,000		91,575
El Salvador: 0.0%†
El Salvador Government International Bonds
9.500%, due 07/15/523		25,000		18,350
Indonesia: 0.1%
Indonesia Government International Bonds
4.625%, due 04/15/433		165,000		136,757
Japan: 0.1%
Japan Bank for International Cooperation
2.875%, due 07/21/27		300,000		276,107
Japan International Cooperation Agency
2.750%, due 04/27/27		300,000		275,665
				551,772
Mexico: 0.1%
Mexican Udibonos
3.000%, due 12/03/26	MXN	158,071		7,922
Mexico Government International Bonds
3.500%, due 02/12/34		175,000		133,175
4.400%, due 02/12/52		175,000		115,238
Mexico Udibonos
2.750%, due 11/27/31		2,686,801		123,552
4.000%, due 11/30/28		395,118		20,398
				400,285
Mongolia: 0.0%†
Mongolia Government International Bonds
5.125%, due 04/07/263		55,000		51,394
Oman: 0.0%†
Oman Government International Bonds
7.000%, due 01/25/513		140,000		128,450

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Non-U.S. government agency obligations—(continued)
Panama: 0.0%†
Panama Government International Bonds
2.252%, due 09/29/32		80,000		54,080
3.298%, due 01/19/33		100,000		73,400
				127,480
Paraguay: 0.0%†
Paraguay Government International Bonds
4.950%, due 04/28/313		70,000		63,490
Qatar: 0.0%†
Qatar Government International Bonds
4.400%, due 04/16/503		60,000		46,238
Romania: 0.1%
Romania Government International Bonds
3.000%, due 02/14/316		104,000		82,160
3.625%, due 03/27/323		50,000		39,476
4.000%, due 02/14/513		60,000		36,656
				158,292
Saudi Arabia: 0.1%
Saudi Government International Bonds
3.250%, due 11/17/513		65,000		37,700
3.750%, due 01/21/553		50,000		31,500
4.875%, due 07/18/333		200,000		186,250
5.000%, due 01/18/533		200,000		158,250
				413,700
South Africa: 0.0%†
Republic of South Africa Government International Bonds
5.650%, due 09/27/47		90,000		58,500
5.750%, due 09/30/49		45,000		29,250
				87,750
Uruguay: 0.0%†
Uruguay Government International Bonds
5.100%, due 06/18/50		50,000		43,100
Total non-U.S. government agency obligations (cost $3,074,934)				2,551,808
U.S. government agency obligations: 10.3%
FHLMC
2.500%, due 03/01/52		592,581		454,955
3.500%, due 04/01/52		94,908		79,125
3.500%, due 05/01/52		510,532		425,359
3.500%, due 11/01/52		523,573		436,120
4.000%, due 09/01/52		236,069		204,177
4.000%, due 10/01/52		312,309		270,145
4.000%, due 11/01/52		453,443		392,044
4.000%, due 01/01/53		289,221		250,014
4.500%, due 08/01/52		1,254,201		1,120,683
4.500%, due 09/01/52		466,031		416,402
4.500%, due 10/01/52		466,026		416,539
4.500%, due 01/01/53		240,092		214,524
5.000%, due 10/01/52		231,412		213,426
5.000%, due 11/01/52		233,632		215,467
5.000%, due 12/01/52		448,668		413,796
5.000%, due 04/01/53		429,229		395,818
5.000%, due 05/01/53		728,771		672,075
5.500%, due 04/01/53		550,259		522,142
5.500%, due 07/01/53		873,358		828,718
5.500%, due 08/01/53		417,362		396,032

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
U.S. government agency obligations—(continued)
6.000%, due 06/01/53		212,936	$	207,484
6.000%, due 07/01/53		458,125		445,979
6.000%, due 08/01/53		194,388		189,234
7.645%, due 05/01/25		234,605		234,296
FNMA
2.500%, due 09/01/51		431,817		332,559
2.500%, due 10/01/51		507,222		390,523
2.500%, due 12/01/51		568,985		437,793
3.000%, due 02/01/52		1,033,624		830,600
3.000%, due 03/01/53		196,847		157,629
3.500%, due 05/01/52		292,405		243,671
3.500%, due 08/01/52		98,076		81,831
4.000%, due 06/01/52		535,835		463,951
4.000%, due 07/01/52		213,151		184,402
4.000%, due 10/01/52		91,889		80,340
4.500%, due 08/01/52		230,295		205,770
4.500%, due 09/01/52		740,291		661,474
4.500%, due 10/01/52		259,341		231,754
4.500%, due 01/01/53		247,238		220,900
4.500%, due 05/01/53		190,342		170,323
5.000%, due 10/01/52		282,113		260,179
5.000%, due 12/01/52		541,437		499,354
5.000%, due 02/01/53		482,145		444,826
5.000%, due 03/01/53		407,048		375,414
5.000%, due 04/01/53		246,529		227,498
5.000%, due 05/01/53		94,406		87,057
5.000%, due 06/01/53		694,138		640,106
5.000%, due 07/01/53		1,101,401		1,015,982
5.188%, due 11/01/342		1,196,212		1,191,374
5.500%, due 01/01/53		440,016		417,770
5.500%, due 02/01/53		234,336		222,451
5.500%, due 03/01/53		61,737		58,583
6.000%, due 06/01/53		194,788		189,667
6.000%, due 07/01/53		481,702		468,931
6.000%, due 08/01/53		48,686		47,395
FNMA ARM
1 yr. CMT + 2.098%,
3.694%, due 05/01/302		11,677		11,359
Refinitiv USD IBOR Consumer Cash Fallbacks Term 1 yr. + 1.420%,
3.795%, due 03/01/362		7,933		7,758
Refinitiv USD IBOR Consumer Cash Fallbacks Term 1 yr. + 1.603%,
3.978%, due 12/01/352		12,830		12,655
Refinitiv USD IBOR Consumer Cash Fallbacks Term 1 yr. + 1.780%,
4.030%, due 11/01/352		3,273		3,254
Refinitiv USD IBOR Consumer Cash Fallbacks Term 1 yr. + 1.835%,
4.210%, due 03/01/362		14,263		14,125

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
U.S. government agency obligations—(continued)
Refinitiv USD IBOR Consumer Cash Fallbacks Term 1 yr. + 1.912%,
4.287%, due 02/01/362		14,444	$	14,338
Refinitiv USD IBOR Consumer Cash Fallbacks Term 1 yr. + 1.815%,
4.323%, due 03/01/362		15,291		15,127
1 yr. CMT + 2.405%,
4.655%, due 05/01/272		521		515
Refinitiv USD IBOR Consumer Cash Fallbacks Term 6 mo. + 1.538%,
4.663%, due 01/01/362		2,565		2,536
1 yr. CMT + 2.230%,
4.932%, due 04/01/272		3,405		3,373
Refinitiv USD IBOR Consumer Cash Fallbacks Term 1 yr. + 1.942%,
6.192%, due 09/01/352		19		19
FNMA ARM COFI
3.250%, due 11/01/262,4,11		3,524		3,524
GNMA II
5.000%, due 12/20/49		43,960		41,571
GNMA II ARM
1 yr. CMT + 1.500%,
2.625%, due 07/20/252		372		364
1 yr. CMT + 1.500%,
2.750%, due 11/20/232		3		3
1 yr. CMT + 1.500%,
3.625%, due 01/20/262		639		625
1 yr. CMT + 1.500%,
3.875%, due 05/20/262		1,592		1,552
UMBS TBA
2.500%		1,105,000		846,984
3.500%		5,035,000		4,194,254
4.000%		7,805,000		6,744,432
4.500%		1,940,000		1,732,539
5.000%		3,705,000		3,415,435
5.500%		7,460,000		7,076,249
6.000%		240,000		233,549
Total U.S. government agency obligations (cost—$46,331,348)				44,630,801
U.S. Treasury obligations: 13.2%
U.S. Treasury Bonds
1.375% due 08/15/50		1,445,000		657,814
1.625% due 11/15/50		2,000,000		979,609
2.000% due 02/15/50		375,000		205,269
2.250% due 08/15/49		100,000		58,406
2.375% due 02/15/42		600,000		396,187
2.375% due 05/15/51		735,000		437,813
2.750% due 08/15/42		1,860,000		1,301,782
2.875% due 08/15/45		500,000		344,414
2.875% due 05/15/49		200,000		134,227
2.875% due 05/15/52		80,000		53,384
3.000% due 11/15/44		500,000		355,059
3.000% due 02/15/47		575,000		399,603
3.000% due 02/15/49		200,000		137,664
3.000% due 08/15/52		3,460,000		2,373,344
3.250% due 05/15/42		11,200,000		8,529,063
3.375% due 05/15/44		160,000		121,756

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
U.S. Treasury obligations—(continued)
3.625% due 02/15/53		11,900,000	$	9,272,703
3.625% due 05/15/53		560,000		436,537
3.750% due 11/15/43		225,000		182,610
3.875% due 02/15/43		300,000		249,422
3.875% due 05/15/43		900,000		747,422
4.125% due 08/15/53		355,000		303,691
4.375% due 08/15/43		400,000		356,750
4.500% due 05/15/38		645,000		606,401
4.500% due 08/15/39		300,000		278,262
U.S. Treasury Inflation-Indexed Bonds
0.125% due 02/15/51		117,911		61,701
0.750% due 02/15/45		391,092		269,483
1.000% due 02/15/46		259,118		186,767
1.000% due 02/15/49		121,995		85,314
1.500% due 02/15/53		413,092		323,414
U.S. Treasury Inflation-Indexed Notes
0.125% due 07/15/24		775,710		757,762
0.125% due 07/15/31		687,222		575,146
0.125% due 01/15/32		332,229		273,855
0.250% due 01/15/25		777,648		748,699
0.625% due 07/15/32		950,904		814,035
U.S. Treasury Notes
0.500% due 08/31/27		7,800,000		6,619,945
0.875% due 06/30/26		610,000		549,524
1.250% due 03/31/28		1,975,000		1,693,640
1.625% due 05/15/31		1,485,000		1,182,373
2.625% due 07/31/2912		8,400,000		7,444,500
3.000% due 07/31/24		3,000,000		2,945,273
3.375% due 05/15/33		1,065,000		941,693
4.250% due 12/31/24		2,700,000		2,665,512
Total U.S. Treasury obligations (cost—$63,306,795)				57,057,828
	Number of shares
Common stocks: 0.6%
Mortgage real estate investment: 0.6%
Ellington Financial, Inc., Series C8 (cost—$3,025,000)		121,000		2,692,250
Exchange traded funds: 0.3%
Invesco Senior Loan ETF5		73,013		1,518,670
Total exchange traded funds (cost—$1,676,021)				1,518,670
	Face amount1
Short-term investments—3.0%
Commercial paper: 1.6%
Ameren Corp.,
5.600% due 11/20/23		250,000		249,261
Diageo Capital PLC,
5.550% due 11/07/233		250,000		249,769
Enbridge U.S., Inc.,
5.520% due 11/06/233		250,000		249,808
ERAC USA Finance LLC,
5.550% due 11/21/233		250,000		249,229
Fidelity National Information Services, Inc.,
5.550% due 11/07/233		250,000		249,769
Fidelity National Information Services, Inc.,
5.570% due 11/20/233		250,000		249,265

PACE Strategic Fixed Income Investments
Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Commercial paper—(continued)
Fidelity National Information Services, Inc.,		250,000	$	248,954
5.580% due 11/28/233
Fidelity National Information Services, Inc.,		250,000		248,911
5.600% due 11/29/233
Haleon U.K. Capital PLC,		250,000		249,807
5.550% due 11/06/233
Humana, Inc.,		250,000		249,729
5.580% due 11/08/233
Humana, Inc.,		250,000		249,224
5.590% due 11/21/233
Intercontinental Exchange, Inc.,		250,000		249,424
5.530% due 11/16/233
Intercontinental Exchange, Inc.,		250,000		249,386
5.530% due 11/17/233
Intercontinental Exchange, Inc.,		250,000		249,961
5.560% due 11/02/233
L3Harris Technologies, Inc.,		250,000		248,680
5.590% due 12/05/233
L3Harris Technologies, Inc.,		250,000		248,615
5.700% due 12/06/233
Marriott International, Inc.,		300,000		299,260
5.550% due 11/17/233
Microchip Technology, Inc.,		250,000		248,954
5.580% due 11/28/233
NextEra Energy Capital Holdings, Inc.,		300,000		298,405
5.630% due 12/05/233
NextEra Energy Capital Holdings, Inc.,		250,000		248,632
5.630% due 12/06/233
NextEra Energy Capital Holdings, Inc.,		250,000		248,587
5.650% due 12/07/233
Oracle Corp.,		250,000		249,731
5.530% due 11/08/233
Oracle Corp.,		250,000		249,270
5.530% due 11/20/233
Oracle Corp.,		250,000		248,649
5.560% due 12/06/233
Southern California Edison Co.,		250,000		249,653
5.550% due 11/10/233
Southern California Edison Co.,		250,000		249,411
5.650% due 11/16/233
Verizon Communications, Inc.,		250,000		248,417
5.560% due 12/12/233				6,828,761
Total Commercial paper (cost—$6,828,761)				6,828,761

	Number of shares
Investment companies: 0.9%
State Street Institutional U.S. Government Money Market Fund, 5.301%13 (cost $3,792,313)		3,792,313	3,792,313

	Face amount1
Short-term U.S. Treasury obligations—0.5%
U.S. Treasury Bills
5.441% due 04/18/2413		1,200,000	1,170,001
5.454% due 01/25/2413		1,300,000	1,283,711
Total short-term U.S. Treasury obligations (cost—$2,454,303)			2,453,712
Total Short-term investments (cost—$13,075,377)			13,074,786

PACE Strategic Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Number of shares		Value
Investment of cash collateral from securities loaned—3.0%
Money market funds: 3.0%
State Street Navigator Securities Lending Government Money Market Portfolio, 5.404%13 (cost—12,916,020)		12,916,020	$	12,916,020

	Number of contracts		Notional amount
Swaptions Purchased: 0.0%†
Put swaptions: 0.0%†
10 Year USD SOFR Interest Rate Swap strike @ 3.850, expires 03/04/24 (Counterparty: BOA; pay floating rate); underlying swap terminates 04/03/34		200,000	USD	200,000	11,401
Call USD vs. Put GBP strike @ 1.200, expires 09/26/24 (Counterparty: GSI; pay floating rate); underlying swap terminates XX/XX/XX		200,000	USD	200,000	6,154
Total put swaptions					17,555

	Number of contracts		Notional amount		Value
Swaptions Purchased—(continued)
Call swaptions: 0.0%†
10 Year USD SOFR Interest Rate Swap strike @ 3.636, expires 10/07/24 (Counterparty: MSCI; pay floating rate); underlying swap terminates 09/10/34		800,000	USD	800,000	$	9,969
Total swaptions purchased (cost—$25,790)						27,524
Total investments (cost—$520,479,453)14—112.2%						486,957,225
Liabilities in excess of other assets—(12.2)%						(53,077,837	)
Net assets—100.0%					$	433,879,388

For a listing of defined portfolio acronyms that are used throughout the Portfolio of investments as well as the tables that follow, please refer to the Glossary of terms used in the Portfolio of investments.

Swaptions written

Notional amount (000)

Number of contracts

Call Swaptions

Counterparty

Pay/ receive floating rate

Expiration date

Premiums received

Current value

Unrealized appreciation (depreciation)

USD

100

100,000

10 Year USD SOFR Interest Rate Swap, strike @ 4.250%, terminating 11/22/33

GS

Pay

11/20/23

$

455

$

(231

)

$

224

PACE Strategic Fixed Income Investments
Portfolio of investments – October 31, 2023 (unaudited)

Swaptions written

Notional amount (000)		Number of contracts	Put Swaptions	Counterparty	Pay/ receive floating rate	Expiration date	Premiums received		Current value				Unrealized appreciation (depreciation)
USD	1,700	1,700,000	1 Year USD SOFR Interest Rate Swap, strike @ 5.100%, terminating 03/04/25	BOA	Pay	03/04/24	$	4,909	$	(4,681	)	$	228
GBP	400	400,000	31750mnd6 Pimco Fxvan Put Gbp Usd 1.10000000	GS	Pay	09/26/24		4,100		(3,534	)		566
USD	800	800,000	10 Year USD SOFR Interest Rate Swap, strike @ 5.073%, terminating 10/09/34	MSCI	Pay	10/07/24		14,400		(15,394	)		(994	)
USD	100	100,000	10 Year USD SOFR Interest Rate Swap, strike @ 4.850%, terminating 11/22/33	GS	Pay	11/20/23		455		(289	)		166
Total							$	23,864	$	(23,898	)	$	(34	)
Total swaptions written							$	24,319	$	(24,129	)	$	190

Futures contracts

Number of contracts	Currency		Expiration date	Current notional amount			Value			Unrealized appreciation (depreciation)
Interest rate futures buy contracts:
19	USD	3 Month SOFR Futures	March 2024	$	4,495,659		$	4,491,600		$	(4,059	)
40	USD	3 Month SOFR Futures	September 2024		9,484,055			9,482,500			(1,555	)
U.S. Treasury futures buy contracts:
119	USD	U.S. Long Bond Futures	December 2023		14,304,445			13,023,063			(1,281,382	)
48	USD	U.S. Treasury Note 10 Year Futures	December 2023		5,188,340			5,096,250			(92,090	)
127	USD	U.S. Treasury Note 2 Year Futures	December 2023		25,844,873			25,707,578			(137,295	)
316	USD	U.S. Treasury Note 5 Year Futures	December 2023		33,429,066			33,014,594			(414,472	)
236	USD	Ultra U.S. Treasury Bond Futures	December 2023		30,005,753			26,564,750			(3,441,003	)
138	USD	Ultra U.S. Treasury Note 10 Year Futures	December 2023		15,546,416			15,018,281			(528,135	)
Total				$	138,298,607		$	132,398,616		$	(5,899,991	)
Interest rate futures sell contracts:
40	USD	3 Month SOFR Futures	December 2024	$	(9,513,882	)	$	(9,508,500	)	$	5,382
7	USD	CBOT 30 Day Federal Funds Futures	October 2023		(2,760,690	)		(2,761,502	)		(812	)
U.S. Treasury futures sell contracts:
34	USD	U.S. Long Bond Futures	December 2023		(4,029,176	)		(3,720,875	)		308,301
31	USD	U.S. Treasury Note 10 Year Futures	December 2023		(3,387,729	)		(3,291,328	)		96,401
220	USD	U.S. Treasury Note 5 Year Futures	December 2023		(23,381,334	)		(22,984,844	)		396,490
76	USD	Ultra U.S. Treasury Bond Futures	December 2023		(9,381,195	)		(8,554,750	)		826,445
50	USD	Ultra U.S. Treasury Note 10 Year Futures	December 2023		(5,696,413	)		(5,441,406	)		255,007
Total				$	(58,150,419	)	$	(56,263,205	)	$	1,887,214
Net unrealized appreciation (depreciation)										$	(4,012,777	)

OTC CDS agreements on corporate issues—sell protection¹⁵

Referenced obligations	Notional amount (000)		Maturity date	Payment frequency	Payments received by the Portfolio		Upfront payments received (made)		Value				Unrealized appreciation (depreciation)
Banco do Brasil SA, 4.625%, due 12/20/24	USD	100	12/20/24	Quarterly	1.000	%	$	1,398	$	(552	)	$	846

PACE Strategic Fixed Income Investments
Portfolio of investments – October 31, 2023 (unaudited)

Centrally cleared credit default swap agreements on credit indices—sell protection¹⁵

Referenced obligations	Notional amount (000)		Maturity date	Payment frequency	Payments received by the Portfolio	Upfront payments received (made)			Value			Unrealized appreciation (depreciation)
iTraxx Europe Crossover S39	EUR	878	06/20/28	Quarterly	5.000		(33,587	)		43,438		9,851
iTraxx Europe Crossover S40	EUR	100	12/20/28	Quarterly	5.000		(16,769	)		16,535		(234	)
iTraxx Europe Crossover S40	EUR	200	12/20/28	Quarterly	5.000		(33,158	)		33,089		(69	)
Total						$	(83,514	)	$	93,062	$	9,548

Centrally cleared credit default swap agreements on corporate issues—sell protection¹⁵ 

Referenced obligations	Notional amount (000)		Maturity date	Payment frequency	Payments made by the Portfolio			Upfront payments received (made)			Value			Unrealized appreciation (depreciation)
AT&T, Inc., 3.800%, due 06/20/28	USD	400	06/20/28	Quarterly		1.000	%	$	1,459		$	632		$	2,091
Barclays Bank PLC, 1.500%, due 12/20/23	EUR	100	12/20/23	Quarterly		1.000			(13	)		179			166
British Telecommunications PLC, 5.750%, due 06/20/28	EUR	300	06/20/28	Quarterly		1.000			(504	)		1,108			604
T-Mobile USA, Inc., 4.750%, due 06/20/28	USD	200	06/20/28	Quarterly		5.000			(31,948	)		34,917			2,969
Verizon Communications, Inc., 4.125%, due 06/20/28	USD	400	06/20/28	Quarterly		1.000			983			109			1,092
Verizon Communications, Inc., 4.125%, due 06/20/28	USD	100	12/20/28	Quarterly		1.000			243			(152	)		91
Total								$	(29,780	)	$	36,793		$	7,013

PACE Strategic Fixed Income Investments
Portfolio of investments – October 31, 2023 (unaudited)

Centrally cleared interest rate swap agreements

Notional amount (000)		Maturity date	Payment frequency	Payments made by the portfolio16			Payments received by the portfolio16		Value			Unrealized appreciation (depreciation)
AUD	500	09/20/33	Semi-annual		4.50	%		6 Month AUD Bank Bill Swap	$	(17,804	)	$	(10,229	)
AUD	100	03/20/34	Semi-annual		4.50			6 Month AUD Bank Bill Swap		(3,840	)		(1,011	)
CAD	6,500	06/21/25	Semi-annual		4.000			6 Month CADCDOR		(59,672	)		1,635
CAD	600	07/13/25	Semi-annual		4.820			6 Month CADCDOR		(61	)		(61	)
CAD	1,400	07/14/25	Semi-annual		4.750			6 Month CADCDOR		(1,523	)		(1,643	)
CAD	4,100	09/20/25	Semi-annual		3.750			6 Month CADCDOR		(51,609	)		6,008
EUR	200	03/09/33	Semi-annual		2.547			6 Month EURIBOR		(10,788	)		(10,788	)
EUR	1,800	03/20/34	Semi-annual		3.00			6 Month EUR EURIBOR		(51,294	)		(21,563	)
EUR	800	03/20/54	Semi-annual		6 mo. EUR EURIBOR			2.750		56,261			33,198
JPY	140,000	09/20/43	Annual		12 Month JPY TONA			1.000		100,114			88,798
USD	1,700	10/18/24	Annual		12 Month SOFR			5.388		424			424
USD	4,200	06/21/25	Annual		12 Month SOFR			3.750		92,848			31,280
USD	600	07/17/25	Annual		12 Month SOFR			4.600		6,024			6,091
USD	2,700	09/20/25	Annual		12 Month SOFR			3.500		73,936			21,576
USD	300	06/15/32	Annual		12 Month SOFR			1.750		62,540			22,637
USD	1,200	06/21/33	Annual		12 Month SOFR			3.000		150,859			129,881
USD	600	12/20/33	Annual		12 Month SOFR			3.500		47,609			44,463
USD	3,600	07/18/24	At Maturity		4.500			12 Month SOFR		(26,359	)		(4,160	)
Total									$	367,665		$	336,536

Forward foreign currency contracts

Counterparty	Sell		Purchase		Settlement date	Unrealized appreciation (depreciation)
BB	EUR	1,424,000	USD	1,502,263	12/04/23	$	(6,401	)

PACE Strategic Fixed Income Investments 

Portfolio of investments – October 31, 2023 (unaudited) 

Counterparty	Sell		Purchase		Settlement date	Unrealized appreciation (depreciation)
BB	USD	1,500,326	EUR	1,424,000	11/02/23	$	6,408
BNP	CNH	53,000	USD	7,331	03/26/24		37
BNP	EUR	1,330,000	USD	1,411,129	11/02/23		3,855
BNP	EUR	22,000	USD	23,301	12/04/23		(7	)
BNP	GBP	677,000	USD	823,575	11/02/23		715
BNP	USD	728,946	JPY	104,461,051	11/15/23		(38,371	)
BNP	USD	123,865	THB	4,477,782	12/20/23		1,252
BOA	MXN	665,000	USD	36,314	11/01/23		(571	)
CITI	EUR	94,000	USD	98,991	11/02/23		(469	)
CITI	MXN	499,000	USD	27,184	11/17/23		(430	)
CITI	MXN	927,161	USD	51,118	12/14/23		39
CITI	MXN	675,903	USD	36,795	01/31/24		(141	)
CITI	PEN	452,247	USD	117,433	11/03/23		(290	)
CITI	PEN	557,911	USD	150,073	11/07/23		4,870
CITI	PEN	557,912	USD	144,657	12/20/23		(297	)
CITI	USD	239	MXN	4,344	12/14/23		1
CITI	USD	121,726	PEN	452,247	11/03/23		(4,002	)
CITI	USD	144,931	PEN	557,912	11/07/23		272
CITI	USD	117,190	PEN	452,247	12/20/23		311
DB	USD	1,300,681	AUD	1,986,000	11/15/23		(40,313	)
GS	BRL	1,000,000	USD	197,380	01/03/24		405
GS	MXN	1,038,747	USD	59,877	12/14/23		2,650
GS	MYR	2,596,159	USD	550,105	11/15/23		4,757
GS	USD	268	EUR	252	01/18/24		(1	)
HSBC	CAD	284,883	USD	210,768	11/02/23		5,333
HSBC	USD	10,994	IDR	169,479,418	03/20/24		(336	)
HSBC	USD	325,989	THB	11,811,233	12/20/23		4,038
HSBC	USD	213,963	TWD	6,752,683	03/20/24		(2,128	)
JPMCB	GBP	137,003	USD	166,246	12/04/23		(305	)
JPMCB	TWD	6,860,931	USD	216,929	12/20/23		4,153
JPMCB	USD	166,216	GBP	137,003	11/02/23		304
JPMCB	USD	9,012	IDR	139,136,268	03/20/24		(262	)
Net unrealized appreciation (depreciation)						$	(54,924	)

Fair valuation summary

The following is a summary of the fair valuations according to the inputs used as of October 31, 2023 in valuing the Portfolio's investments. In the event a Portfolio holds investments for which fair value is measured using the NAV per share practical expedient (or its equivalent), a separate column will be added to the fair value hierarchy table; this is intended to permit reconciliation to the amounts presented in the Portfolio of investments:

Description	Unadjusted quoted prices in active market for identical investments (Level 1)		Other significant observable inputs (Level 2)		Unobservable inputs (Level 3)		Total
Assets
Common stocks	$	2,692,250	$	—	$	—	$	2,692,250
Exchange traded funds		1,518,670		—		—		1,518,670

PACE Strategic Fixed Income Investments 

Portfolio of investments – October 31, 2023 (unaudited) 

Description	Unadjusted quoted prices in active market for identical investments (Level 1)			Other significant observable inputs (Level 2)			Unobservable inputs (Level 3)		Total
Asset-backed securities		—			66,981,603			—		66,981,603
Corporate bonds		—			218,094,761			—		218,094,761
Loan assignments		—			23,093,204			—		23,093,204
Mortgage-backed securities		—			43,131,080			—		43,131,080
Municipal bonds		—			1,186,890			—		1,186,890
Non-U.S. government agency obligations		—			2,551,808			—		2,551,808
U.S. government agency obligations		—			44,627,277			3,524		44,630,801
U.S. Treasury obligations		—			57,057,828			—		57,057,828
Investment companies		—			3,792,313			—		3,792,313
Commercial paper		—			6,828,761			—		6,828,761
Short-term U.S. Treasury obligations		—			2,453,712			—		2,453,712
Investment of cash collateral from securities loaned		—			12,916,020			—		12,916,020
Swaptions Purchased		—			27,524			—		27,524
Futures contracts		1,888,026			—			—		1,888,026
Swap agreements		—			720,622			—		720,622
Forward foreign currency contracts		—			39,400			—		39,400
Total	$	6,098,946		$	483,502,803		$	3,524	$	489,605,273
Liabilities
Swaptions written	$	—		$	(24,129	)	$	—	$	(24,129	)
Futures contracts		(5,900,803	)		—			—		(5,900,803	)
Swap agreements		—			(223,654	)		—		(223,654	)
Forward foreign currency contracts		—			(94,324	)		—		(94,324	)
Total	$	(5,900,803	)	$	(342,107	)	$	—	$	(6,242,910	)

At October 31, 2023, there were no transfers in or out of Level 3.

Securities valued using unobservable inputs, i.e. Level 3, were not considered significant to the Portfolio.

Portfolio footnotes

† Amount represents less than 0.05% or (0.05)%.

1	In U.S. dollars unless otherwise indicated.
2	Floating or variable rate securities. The rates disclosed are as of October 31, 2023. For securities based on a published reference rate and spread, the reference rate and spread are indicated within the description. Variable rate securities with a floor or ceiling feature are disclosed at the inherent rate, where applicable. Certain variable rate securities are not based on a published reference rate and spread, but are determined by the issuer or agent and are based on current market conditions; these securities do not indicate a reference rate and spread in the description.
3	Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933. These securities are considered liquid, unless noted otherwise, and may be resold in transactions exempt from registrations, normally to qualified institutional buyers. Securities exempt from registration pursuant to Rule 144A, in the amount of $175,625,704, represented 40.5% of the Portfolios net assets at period end.
4	Security fair valued by the Valuation Committee under the direction of the Board of Trustees.
5	Security, or portion thereof, was on loan at the period end.
6	Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States. Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption from registration.
7	Payment–in–kind security for which interest may be paid in cash or additional principal, at the discretion of the issuer.
8	Perpetual investment. Date shown reflects the next call date.
9	Zero coupon bond.

PACE Strategic Fixed Income Investments 

Portfolio of investments – October 31, 2023 (unaudited) 

10	Bond interest in default.
11	Significant unobservable inputs were used in the valuation of this security; i.e. Level 3.
12	Security, or portion thereof, pledged as collateral for investments sold short, written options, futures and/or swap agreements.
13	Rates shown reflect yield at October 31, 2023.
14	Includes $14,553,051 of investments in securities on loan, at value plus accrued interest and dividends, if any. The Fund includes cash collateral of $12,916,020 and non-cash collateral of $1,941,886.
15	If the Portfoliosis a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolios will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced obligation or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced obligation.
16	Payments made or received are based on the notional amount.

PACE Municipal Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount		Value
Municipal bonds—98.8%
Alabama: 2.3%
Black Belt Energy Gas District, Revenue Bonds,
Series A-1,
4.000%, due 10/01/491	$	2,000,000	$	1,937,930
Lower Alabama Gas District, Gas Project, Revenue Bonds,
4.000%, due 12/01/501		2,500,000		2,443,663
				4,381,593
Alaska: 0.7%
City of Anchorage AK Wastewater, Refunding, Revenue Bonds,
Series B,
5.000%, due 05/01/31		1,395,000		1,445,065
Arizona: 3.2%
Arizona Industrial Development Authority, Equitable School Revolving Fund LLC Obligated Group, Revenue Bonds,
Series A,
4.000%, due 11/01/35		2,000,000		1,841,009
Arizona Industrial Development Authority, Revenue Bonds,
Series 2019-2,
3.625%, due 05/20/33		928,111		807,663
City of Phoenix Civic Improvement Corp., City of Phoenix AZ Airport, Revenue Bonds, AMT,
Series B,
5.000%, due 07/01/30		1,000,000		1,018,758
Salt River Project Agricultural Improvement & Power District, Refunding, Revenue Bonds,
Series A,
5.000%, due 12/01/36		1,475,000		1,486,506
Salt Verde Financial Corp., Revenue Bonds,
5.000%, due 12/01/32		1,000,000		994,141
				6,148,077
Arkansas: 0.7%
City of Fort Smith AR Water & Sewer, Refunding, Revenue Bonds,
5.000%, due 10/01/34		1,320,000		1,357,522
California: 1.2%
California Housing Finance Agency, Revenue Bonds,
Series 2021-1,
3.500%, due 11/20/35		1,442,268		1,248,201
California State, Refunding, GO Bonds,
5.000%, due 04/01/33		1,000,000		1,054,968
				2,303,169
Colorado: 1.6%
Colorado Health Facilities Authority, Prerefunded, Revenue Bonds,
Series B,
5.000%, due 11/15/491		140,000		145,066
Series B,
5.000%, due 11/15/491		1,360,000		1,390,462

PACE Municipal Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount		Value
Municipal bonds—(continued)
Colorado—(continued)
Colorado Health Facilities Authority, Sisters of Charity of Leavenworth Health System, Inc., Refunding, Revenue Bonds,
Series A,
5.000%, due 01/01/30	$	1,500,000	$	1,596,646
				3,132,174
Connecticut: 1.7%
State of Connecticut Special Tax, Revenue Bonds,
Series A,
4.000%, due 05/01/36		1,000,000		958,517
Series A,
4.000%, due 05/01/39		2,650,000		2,433,400
				3,391,917
District of Columbia: 2.1%
District of Columbia, Income Tax Revenue, Revenue Bonds,
Series A,
5.000%, due 07/01/41		1,500,000		1,551,138
Metropolitan Washington Airports Authority, Refunding, Revenue Bonds, AMT,
Series A,
5.000%, due 10/01/28		2,500,000		2,546,865
				4,098,003
Florida: 3.4%
Central Florida Expressway Authority Senior Lien, Revenue Bonds, AGM,
Series D,
5.000%, due 07/01/35		1,500,000		1,596,654
City of Jacksonville FL, Refunding, Revenue Bonds,
Series A,
5.000%, due 10/01/39		750,000		777,420
County of Polk FL Utility System, Refunding, Revenue Bonds,
5.000%, due 10/01/35		625,000		670,366
JEA Electric System, Refunding, Revenue Bonds,
Series 3A,
5.000%, due 10/01/34		1,630,000		1,711,911
Orange County Convention Center/Orlando, Refunding, Revenue Bonds,
Series B,
5.000%, due 10/01/30		1,885,000		1,924,861
				6,681,212
Georgia: 4.5%
City of Atlanta GA Water & Wastewater Revenue, Refunding, Revenue Bonds,
Series A,
5.000%, due 11/01/31		1,000,000		1,037,433
Fulton County Development Authority of Georgia, Piedmont Healthcare, Inc., Refunding, Revenue Bonds,
Series A,
5.000%, due 07/01/27		1,500,000		1,529,891

PACE Municipal Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount		Value
Municipal bonds—(continued)
Georgia—(continued)
Fulton County Development Authority of Georgia, WellStar Health System, Revenue Bonds,
Series A,
5.000%, due 04/01/36	$	1,000,000	$	1,010,660
Georgia Ports Authority, Revenue Bonds,
5.000%, due 07/01/41		1,500,000		1,542,701
Main Street Natural Gas, Inc., Revenue Bonds,
Series A,
5.500%, due 09/15/28		1,500,000		1,528,532
Series C,
5.000%, due 09/01/531		1,000,000		993,005
Municipal Electric Authority of Georgia, Plant Vogtle Unis 3&4 Project, Revenue Bonds,
Series A,
5.000%, due 01/01/33		1,000,000		1,018,168
				8,660,390
Hawaii: 0.5%
Hawaii Airports System, Revenue Bonds, AMT,
Series A,
5.000%, due 07/01/29		1,000,000		1,018,384
Illinois: 9.1%
Chicago O'Hare International Airport Senior Lien, Refunding, Revenue Bonds,
Series B,
5.000%, due 01/01/35		1,000,000		1,005,011
Chicago O'Hare International Airport, Refunding, Revenue Bonds, AMT,
Series A,
5.000%, due 01/01/29		2,500,000		2,496,091
Chicago Waterworks Second Lien, Refunding, Revenue Bonds, AGM,
Series 2017-2,
5.000%, due 11/01/31		1,000,000		1,021,117
Chicago Waterworks Senior Lien, Revenue Bonds,
Series A-1,
5.000%, due 11/01/29		1,920,000		1,944,198
City of Chicago IL, Refunding, GO Bonds,
Series A,
4.000%, due 01/01/35		1,250,000		1,114,391
Illinois County of Cook Sales Tax, Refunding, Revenue Bonds,
5.000%, due 11/15/35		2,500,000		2,552,983
Illinois Municipal Electric Agency, Refunding, Revenue Bonds,
Series A,
5.000%, due 02/01/32		2,500,000		2,518,722
Illinois Sports Facilities Authority, Refunding, Revenue Bond, BAM,
5.000%, due 06/15/28		1,000,000		1,005,617

PACE Municipal Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount		Value
Municipal bonds—(continued)
Illinois—(continued)
Regional Transportation Authority, Revenue Bonds,
6.500%, due 07/01/30	$	1,000,000	$	1,111,168
Sales Tax Securitization Corp. Second Lien, Refunding, Revenue Bonds,
Series A,
5.000%, due 01/01/36		1,770,000		1,802,956
University of Illinois, Auxiliary Facilities System, Revenue Bonds,
Series A,
5.000%, due 04/01/30		1,000,000		1,000,491
				17,572,745
Indiana: 5.7%
Indiana Finance Authority First Lien, CWA Authority, Inc., Refunding, Revenue Bonds,
Series I,
4.000%, due 10/01/36		2,020,000		1,880,571
Indiana Finance Authority, Indiana University Health Inc Obligated Group, Revenue Bonds,
Series B,
2.250%, due 12/01/581		5,250,000		5,061,569
Indiana Finance Authority, Marion County Capital Improvement Board, Refunding, Revenue Bonds,
Series A,
5.250%, due 02/01/35		1,000,000		1,015,715
Richmond Hospital Authority, Reid Hospital & Health Care Services, Inc., Refunding, Revenue Bonds,
Series A,
5.000%, due 01/01/30		2,055,000		2,029,915
Whiting City, BP Products North America, Inc., Revenue Bonds, AMT,
5.000%, due 11/01/471		1,000,000		998,271
				10,986,041
Iowa: 0.3%
Iowa Tobacco Settlement Authority, Refunding, Revenue Bonds,
Series A-2 CLASS 1,
5.000%, due 06/01/33		500,000		518,546
Kentucky: 2.4%
Kentucky Public Energy Authority, Gas Supply, Revenue Bonds,
Series B,
4.000%, due 01/01/491		3,750,000		3,702,939

PACE Municipal Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount		Value
Municipal bonds—(continued)
Kentucky—(continued)
Kentucky Public Energy Authority, Revenue Bonds,
Series A,
4.000%, due 12/01/501	$	1,000,000	$	972,639
				4,675,578
Louisiana: 2.2%
Jefferson Sales Tax District, Revenue Bonds, AGM,
Series B,
4.000%, due 12/01/32		1,895,000		1,828,189
New Orleans Aviation Board Louis Armstrong New Orleans International Airport, Revenue Bonds, AMT, AGM,
Series B,
5.000%, due 01/01/28		1,500,000		1,503,814
Parish of St John the Baptist LA, Marathon Oil Corp, Refunding, Revenue Bonds,
Series A-3,
2.200%, due 06/01/371		1,000,000		934,014
				4,266,017
Maryland: 0.8%
Maryland State Transportation Authority Passenger Facility Charge Revenue, Baltimore/Washington International, Revenue Bonds, AMT,
5.000%, due 06/01/24		1,500,000		1,503,607
Massachusetts: 1.0%
Commonwealth of Massachusetts, GO Bonds,
Series D,
4.000%, due 05/01/34		2,000,000		1,979,171
Michigan: 2.3%
Michigan Finance Authority Prerefunded, Revenue Bonds,
5.000%, due 08/01/33		50,000		50,362
Michigan State Strategic Fund Improvement Project, State of Michigan Department of Transportation, Revenue Bonds, AMT,
Series P3,
5.000%, due 06/30/32		3,300,000		3,329,782
Saginaw Hospital Finance Authority, Covenant Healthcare System, Refunding, Revenue Bonds,
Series J,
5.000%, due 07/01/28		1,000,000		1,020,342
				4,400,486
Missouri: 1.5%
Missouri State Health & Educational Facilities Authority, Coxhealth, Refunding, Revenue Bonds,
Series A,
5.000%, due 11/15/34		2,000,000		1,939,019

PACE Municipal Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount		Value
Municipal bonds—(continued)
Missouri—(continued)
Missouri State Health & Educational Facilities Authority, Saint Luke's Health System, Refunding, Revenue Bonds,
5.000%, due 11/15/28	$	1,000,000	$	1,012,266
				2,951,285
Nebraska: 0.7%
Nebraska Public Power District, Refunding, Revenue Bonds,
Series A,
5.000%, due 01/01/31		1,300,000		1,352,551
Nevada: 0.3%
City of Reno Reno First Lien, County of Washoe NV Sales Tax Revenue, Refunding, Revenue Bonds,
Series A,
5.000%, due 06/01/33		500,000		510,589
New Jersey: 5.3%
New Jersey Health Care Facilities Financing Authority, Valley Health System, Revenue Bonds,
5.000%, due 07/01/33		1,000,000		1,031,229
New Jersey Transportation Trust Fund Authority, Transportation Program Notes, Revenue Bonds,
Series BB1,
5.000%, due 06/15/30		1,000,000		1,035,197
Tobacco Settlement Financing Corp., Refunding, Revenue Bonds,
Series A,
5.000%, due 06/01/34		8,000,000		8,216,345
				10,282,771
New Mexico: 1.0%
New Mexico Educational Assistance Foundation, Refunding, Revenue Bonds,
Series 1A,
5.000%, due 09/01/28		2,000,000		2,039,005
New York: 6.4%
City Of New York NY, GO Bonds,
Series B, Subseries B-1,
5.250%, due 10/01/41		1,180,000		1,229,644
City of New York, Refunding, GO Bonds,
Series A-1,
5.000%, due 08/01/32		1,270,000		1,352,154
New York State Dormitory Authority, Personal Income Tax, Refunding, Revenue Bonds,
Series E,
4.000%, due 03/15/42		2,860,000		2,511,518
New York State Urban Development Corp., Revenue Bonds,
Series A,
4.000%, due 03/15/39		2,600,000		2,364,977

PACE Municipal Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount		Value
Municipal bonds—(continued)
New York—(continued)
New York Transportation Development Corp., JFK International Air Terminal LLC, Revenue Bonds, AMT,
5.000%, due 12/01/35	$	2,000,000	$	1,993,520
5.000%, due 12/01/36		1,000,000		994,994
New York Transportation Development Corp., Laguardia Gateway Partners LLC, Revenue Bonds, AMT,
Series A,
5.000%, due 07/01/34		1,000,000		989,296
TSASC, Inc., Refunding, Revenue Bonds,
Series A,
5.000%, due 06/01/34		1,000,000		1,015,998
				12,452,101
North Carolina: 1.5%
Charlotte NC Airport Revenue, Revenue Bonds,
Series B,
5.000%, due 07/01/36		1,540,000		1,546,176
North Carolina Turnpike Authority Senior Lien, Refunding, Revenue Bonds, AGM,
5.000%, due 01/01/26		1,250,000		1,270,642
				2,816,818
Ohio: 1.8%
Ohio Water Development Authority, Revenue Bonds,
Series A,
5.000%, due 12/01/392		1,500,000		1,579,149
State of Ohio, Cleveland Clinic Health System Obligated Group, Revenue Bonds,
Series C,
2.750%, due 01/01/521		1,980,000		1,864,564
				3,443,713
Oklahoma: 0.3%
Oklahoma Municipal Power Authority, Power Supply System, Revenue Bonds, AGM,
Series A,
4.000%, due 01/01/33		650,000		634,923
Pennsylvania: 7.9%
Allegheny County Hospital Development Authority, Allegheny Health Network Obligated Group, Refunding, Revenue Bonds,
Series A,
5.000%, due 04/01/29		3,190,000		3,247,123
Commonwealth Financing Authority, Tobacco Master Settlement Payment, Revenue Bonds,
5.000%, due 06/01/31		1,500,000		1,536,001
Pennsylvania Economic Development Financing Authority, The Penndot Major Bridges, Revenue Bonds,
5.000%, due 06/30/34		2,200,000		2,219,212

PACE Municipal Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount		Value
Municipal bonds—(continued)
Pennsylvania—(continued)
Pennsylvania Housing Finance Agency, Refunding, Revenue Bonds,
Series 134B,
5.000%, due 10/01/27	$	1,250,000	$	1,255,744
Pennsylvania Turnpike Commission, Motor License, Refunding, Revenue Bonds,
Series SPL,
5.000%, due 12/01/33		1,500,000		1,550,990
Philadelphia Airport PA, Refunding, Revenue Bonds, AMT,
Series B,
5.000%, due 07/01/32		1,250,000		1,252,852
Philadelphia School District Prerefunded, Refunding, GO Bonds,
Series F,
5.000%, due 09/01/30		10,000		10,333
Philadelphia School District, GO Bonds,
Series A,
4.000%, due 09/01/35		1,500,000		1,389,234
Series A,
5.000%, due 09/01/31		1,000,000		1,029,671
Southeastern Pennsylvania Transportation Authority,Revenue Bonds,
5.250%, due 06/01/40		1,750,000		1,832,870
				15,324,030
Rhode Island: 1.6%
Rhode Island Health and Educational Building Corp., State of Rhode Island, Revenue Bonds,
4.000%, due 05/15/42		2,300,000		1,931,041
Rhode Island Student Loan Authority, Student Loan, Revenue Bonds, AMT,
Series A-SENIOR BONDS,
5.000%, due 12/01/30		1,125,000		1,145,707
				3,076,748
South Carolina: 0.7%
Piedmont Municipal Power Agency, Catawba Project Power Sales, Refunding, Revenue Bonds,
Series B,
4.000%, due 01/01/34		1,500,000		1,379,914
Tennessee: 4.6%
City of Memphis TN, Electric System, Revenue Bonds,
Series A,
5.000%, due 12/01/31		1,400,000		1,505,378
Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board, Lipscomb University, Refunding, Revenue Bonds,
Series A,
5.000%, due 10/01/35		1,350,000		1,346,831

PACE Municipal Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount		Value
Municipal bonds—(continued)
Tennessee—(continued)
Metropolitan Government of Nashville & Davidson County TN, GO Bonds,
4.000%, due 07/01/33	$	1,500,000	$	1,477,822
Series C,
4.000%, due 01/01/32		3,000,000		2,983,727
Tennessee Energy Acquisition Corp., Revenue Bonds,
Series A,
5.250%, due 09/01/26		1,500,000		1,504,350
				8,818,108
Texas: 10.8%
Brazos Higher Education Authority, Inc., Student Loan Program, Revenue Bonds, AMT,
Series 1A,
5.000%, due 04/01/30		1,000,000		1,001,732
Central Texas Turnpike System, Refunding, Revenue Bonds,
Series C,
5.000%, due 08/15/31		2,000,000		1,974,975
City of El Paso TX, GO Bonds,
5.000%, due 08/15/34		2,000,000		2,033,413
Dayton Independent School District, GO Bonds,
4.000%, due 02/15/40		1,400,000		1,228,932
Frisco Independent School District, Refunding, GO Bonds,
4.000%, due 08/15/37		1,000,000		906,728
Harris County Cultural Education Facilities Finance Corp., Texas Children's Hospital, Refunding, Revenue Bonds,
Series A,
4.000%, due 10/01/35		1,750,000		1,625,803
Harris County-Houston Sports Authority Senior Lien, Refunding, Revenue Bonds,
Series A,
5.000%, due 11/15/29		1,000,000		1,002,825
Houston Airport System, Refunding, Revenue Bonds,
Series B,
5.000%, due 07/01/29		2,000,000		2,089,717
Katy Independent School District, CIB, Refunding, GO Bonds,
Series A,
3.000%, due 02/15/32		2,375,000		2,129,511
North Texas Tollway Authority, North Texas Tollway System, Refunding, Revenue Bonds,
Series A,
5.000%, due 01/01/34		2,775,000		2,781,032
Plano Independent School District, GO Bonds,
5.000%, due 02/15/43		1,000,000		1,026,299

PACE Municipal Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount		Value
Municipal bonds—(continued)
Texas—(continued)
Tarrant County Cultural Education Facilities Finance Corp., Baylor Scott and White Health, Refunding, Revenue Bonds,
Series A,
5.000%, due 11/15/32	$	1,000,000	$	1,019,252
University of Houston, Refunding, Revenue Bonds,
Series C,
5.000%, due 02/15/29		1,000,000		1,016,062
West Travis County Public Utility Agency, Refunding, Revenue Bonds, BAM,
5.000%, due 08/15/30		1,000,000		1,036,708
				20,872,989
Virginia: 0.5%
Virginia Small Business Financing Authority, Capital Beltway Express LLC, Refunding, Revenue Bonds,
5.000%, due 12/31/42		1,000,000		969,659
Washington: 5.2%
Energy Northwest, Refunding, Revenue Bonds,
Series A,
5.000%, due 07/01/35		1,250,000		1,341,259
Grant County Public Utility District No. 2 Electric Revenue, Refunding, Revenue Bonds,
Series R,
2.000%, due 01/01/441		1,000,000		955,673
Port of Seattle, Intermediate Lien, Revenue Bonds, AMT,
5.000%, due 04/01/28		2,500,000		2,544,580
Port of Seattle, Revenue Bonds, AMT,
Series C,
5.000%, due 04/01/32		1,955,000		1,951,323
State of Washington, GO Bonds,
Series B,
5.000%, due 02/01/43		1,000,000		1,029,787
State of Washington, Refunding, GO Bonds,
Series R-2022-C,
4.000%, due 07/01/36		1,500,000		1,426,441
Washington State Housing Finance Commission, Revenue Bonds,
Series A-1,
3.500%, due 12/20/35		964,500		818,723
				10,067,786
Wisconsin: 3.0%
City of Milwaukee WI, GO Bonds, AGM,
Series B4,
5.000%, due 04/01/35		2,000,000		2,091,250
Public Finance Authority KU, Campus Development Corp. project, University of Kansas, Revenue Bonds,
5.000%, due 03/01/34		1,500,000		1,513,992

PACE Municipal Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount		Value
Municipal bonds—(continued)
Wisconsin—(continued)
Public Finance Authority, Duke Energy Progress LLC, Refunding, Revenue Bonds,
Series A-2,
3.700%, due 10/01/461	$	2,330,000	$	2,221,591
				5,826,833
Total municipal bonds (cost—$206,894,163)				191,339,520
	Number of shares
Short-term investments—0.6%
Investment companies: 0.6%
State Street Institutional U.S. Government Money Market Fund, 5.301%3 (cost $1,118,789)		1,118,789		1,118,789
Total investments (cost—$208,012,952)—99.4%				192,458,309
Other assets in excess of liabilities—0.6%				1,184,705
Net assets—100.0%			$	193,643,014

For a listing of defined portfolio acronyms that are used throughout the Portfolio of investments as well as the tables that follow, please refer to the Glossary of terms used in the Portfolio of investments.

Fair valuation summary

The following is a summary of the fair valuations according to the inputs used as of October 31, 2023 in valuing the Portfolio's investments. In the event a Portfolio holds investments for which fair value is measured using the NAV per share practical expedient (or its equivalent), a separate column will be added to the fair value hierarchy table; this is intended to permit reconciliation to the amounts presented in the Portfolio of investments:

Description	Unadjusted quoted prices in active market for identical investments (Level 1)		Other significant observable inputs (Level 2)		Unobservable inputs (Level 3)		Total
Assets
Municipal bonds	$	—	$	191,339,520	$	—	$	191,339,520
Investment companies		—		1,118,789		—		1,118,789
Total	$	—	$	192,458,309	$	—	$	192,458,309

At October 31, 2023, there were no transfers in or out of Level 3.

Portfolio footnotes

1 Floating or variable rate securities. The rates disclosed are as of October 31, 2023. For securities based on a published reference rate and spread, the reference rate and spread are indicated within the description. Variable rate securities with a floor or ceiling feature are disclosed at the inherent rate, where applicable. Certain variable rate securities are not based on a published reference rate and spread, but are determined by the issuer or agent and are based on current market conditions; these securities do not indicate a reference rate and spread in the description.

2 Security purchased on a when–issued basis. When–issued refers to a transaction made conditionally because a security, although authorized, has not yet been issued.

3 Rates shown reflect yield at October 31, 2023.

PACE Global Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Corporate bonds: 30.5%
Australia: 1.9%
Glencore Funding LLC
6.375%, due 10/06/302		385,000	$	377,182
Santos Finance Ltd.
6.875%, due 09/19/332		310,000		295,299
Westpac Banking Corp.
1.079%, due 04/05/273	EUR	2,950,000		2,855,003
				3,527,484
Brazil: 0.2%
Braskem Netherlands Finance BV
4.500%, due 01/31/302		429,000		328,700
Canada: 3.9%
Bank of Montreal
0.125%, due 01/26/273	EUR	3,100,000		2,923,458
Fortis, Inc.
3.055%, due 10/04/26		926,000		849,407
Nutrien Ltd.
5.900%, due 11/07/24		152,000		151,673
5.950%, due 11/07/25		261,000		261,001
Rogers Communications, Inc.
3.800%, due 03/15/32		360,000		291,943
Toronto-Dominion Bank
0.864%, due 03/24/273	EUR	2,950,000		2,842,062
				7,319,544
China: 0.3%
NXP BV/NXP Funding LLC/NXP USA, Inc.
2.500%, due 05/11/31		410,000		312,797
2.650%, due 02/15/32		42,000		31,612
3.400%, due 05/01/30		200,000		167,246
				511,655
Denmark: 0.6%
Danske Bank AS
(fixed, converts to FRN on 06/21/29),
4.750%, due 06/21/303,4	EUR	350,000		368,495
(fixed, converts to FRN on 09/11/25),
1.621%, due 09/11/262,4		830,000		756,162
				1,124,657
Finland: 0.5%
Nordea Bank Abp5,
4.750%, due 09/22/252		935,000		915,643
France: 2.1%
BNP Paribas SA
(fixed, converts to FRN on 06/12/28),
5.335%, due 06/12/292,4		735,000		705,679
BPCE SA
0.500%, due 02/24/273	EUR	100,000		93,646
4.375%, due 07/13/283	EUR	600,000		630,433
(fixed, converts to FRN on 01/18/26),
5.975%, due 01/18/272,4		820,000		806,951
(fixed, converts to FRN on 10/19/28),
6.714%, due 10/19/292,4		375,000		369,713
Credit Agricole SA
5.589%, due 07/05/262		460,000		454,976
(fixed, converts to FRN on 03/10/28),
6.316%, due 10/03/292,4		250,000		245,635
Societe Generale SA
7.367%, due 01/10/532		200,000		173,444
(fixed, converts to FRN on 01/10/28),
6.446%, due 01/10/292,4		540,000		527,602
				4,008,079

PACE Global Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Corporate bonds—(continued)
Germany: 0.7%
Commerzbank AG
(fixed, converts to FRN on 12/05/25),
4.000%, due 12/05/303,4	EUR	800,000	$	810,828
Volkswagen Leasing GmbH
0.625%, due 07/19/293	EUR	200,000		168,517
Vonovia SE
0.625%, due 12/14/293	EUR	400,000		324,113
				1,303,458
Indonesia: 0.1%
Perusahaan Perseroan Persero PT Perusahaan Listrik Negara
5.450%, due 05/21/283		202,000		195,726
Ireland: 2.0%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust
1.650%, due 10/29/24		288,000		274,621
2.450%, due 10/29/26		350,000		311,335
3.300%, due 01/30/32		475,000		367,739
4.875%, due 01/16/24		160,000		159,500
6.500%, due 07/15/25		150,000		149,653
AIB Group PLC
(fixed, converts to FRN on 04/04/27),
2.250%, due 04/04/283,4	EUR	500,000		484,737
Avolon Holdings Funding Ltd.
2.875%, due 02/15/252		385,000		363,906
4.250%, due 04/15/262		1,105,000		1,031,383
Bank of Ireland Group PLC
(fixed, converts to FRN on 04/07/30),
5.000%, due 07/04/313,4	EUR	300,000		316,588
(fixed, converts to FRN on 09/16/25),
6.253%, due 09/16/262,4		310,000		307,093
				3,766,555
Italy: 1.2%
Enel Finance International NV
5.000%, due 06/15/322		400,000		351,487
5.500%, due 06/15/522		200,000		155,382
Intesa Sanpaolo SpA
5.250%, due 01/13/303	EUR	300,000		321,995
6.625%, due 06/20/332		605,000		554,907
7.000%, due 11/21/252		200,000		200,848
UniCredit SpA
0.850%, due 01/19/313	EUR	350,000		283,521
(fixed, converts to FRN on 17/01/28),
4.800%, due 01/17/293,4	EUR	400,000		426,111
				2,294,251
Japan: 0.1%
Mizuho Financial Group, Inc.
(fixed, converts to FRN on 07/06/33),
5.748%, due 07/06/344		265,000		246,336
Mexico: 0.6%
Petroleos Mexicanos
6.500%, due 03/13/27		1,200,000		1,053,978
Netherlands: 0.1%
Cooperatieve Rabobank UA
(fixed, converts to FRN on 12/01/26),
0.375%, due 12/01/273,4	EUR	100,000		94,010
Norway: 0.3%
Aker BP ASA
5.600%, due 06/13/282		205,000		199,121

PACE Global Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Corporate bonds—(continued)
Norway—(continued)
6.000%, due 06/13/332		405,000	$	381,514
				580,635
Spain: 1.0%
Banco Santander SA
(fixed, converts to FRN on 06/30/24),
5.742%, due 06/30/244		1,200,000		1,196,123
CaixaBank SA
(fixed, converts to FRN on 13/09/33),
6.840%, due 09/13/342,4		230,000		217,316
(fixed, converts to FRN on 19/07/28),
5.000%, due 07/19/293,4	EUR	400,000		423,285
				1,836,724
Switzerland: 0.1%
Holcim Finance Luxembourg SA
0.625%, due 01/19/333	EUR	300,000		223,866
United Kingdom: 3.7%
BAT Capital Corp.
4.540%, due 08/15/47		235,000		152,037
Eversholt Funding PLC
6.359%, due 12/02/253	GBP	301,000		368,989
Gatwick Funding Ltd.
6.125%, due 03/02/263	GBP	100,000		121,582
Heathrow Funding Ltd.
1.125%, due 10/08/303	EUR	300,000		252,903
6.450%, due 12/10/313	GBP	350,000		430,458
6.750%, due 12/03/263	GBP	478,000		592,179
HSBC Holdings PLC
(fixed, converts to FRN on 11/22/26),
2.251%, due 11/22/274		610,000		534,823
Lloyds Banking Group PLC
(fixed, converts to FRN on 07/08/26),
5.985%, due 08/07/274		240,000		236,512
NatWest Group PLC
(fixed, converts to FRN on 03/22/24),
4.269%, due 03/22/254		380,000		376,177
(fixed, converts to FRN on 09/06/27),
4.067%, due 09/06/283,4	EUR	505,000		522,538
(fixed, converts to FRN on 11/10/25),
7.472%, due 11/10/264		775,000		788,628
NGG Finance PLC
(fixed, converts to FRN on 09/05/27),
2.125%, due 09/05/823,4	EUR	143,000		129,316
RELX Finance BV
3.750%, due 06/12/313	EUR	300,000		310,923
Santander U.K. Group Holdings PLC
(fixed, converts to FRN on 11/21/25),
6.833%, due 11/21/264		814,000		812,688
Standard Chartered PLC
(fixed, converts to FRN on 01/09/26),
6.170%, due 01/09/272,4		818,000		810,733
(fixed, converts to FRN on 01/12/27),
2.608%, due 01/12/282,4		343,000		299,895
(fixed, converts to FRN on 09/23/26),
1.200%, due 09/23/313,4	EUR	200,000		182,481
				6,922,862

PACE Global Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Corporate bonds—(continued)
United States: 11.1%
AbbVie, Inc.
4.050%, due 11/21/39		465,000	$	363,317
Activision Blizzard, Inc.
2.500%, due 09/15/50		90,000		50,312
AES Corp.
1.375%, due 01/15/26		460,000		408,844
Alexander Funding Trust
1.841%, due 11/15/232		655,000		653,703
Ameren Illinois Co.
5.900%, due 12/01/52		40,000		37,968
Bank of America Corp.
(fixed, converts to FRN on 02/04/27),
2.551%, due 02/04/284		795,000		702,561
(fixed, converts to FRN on 04/25/28),
5.202%, due 04/25/294		325,000		308,999
(fixed, converts to FRN on 09/15/28),
5.819%, due 09/15/294		445,000		433,309
(fixed, converts to FRN on 10/20/31),
2.572%, due 10/20/324		649,000		486,064
Bank of New York Mellon Corp.
(fixed, converts to FRN on 04/26/26),
4.947%, due 04/26/274		320,000		311,005
Baxter International, Inc.
2.539%, due 02/01/32		370,000		277,475
Boeing Co.
5.805%, due 05/01/50		95,000		81,786
Broadcom, Inc.
3.137%, due 11/15/352		245,000		172,822
3.419%, due 04/15/332		460,000		357,661
3.469%, due 04/15/342		285,000		217,153
Cencora, Inc.
2.700%, due 03/15/31		61,000		48,337
2.800%, due 05/15/30		76,000		62,479
CF Industries, Inc.
4.950%, due 06/01/43		159,000		122,745
Charter Communications Operating LLC/Charter Communications Operating Capital
3.500%, due 06/01/41		505,000		302,595
5.250%, due 04/01/53		95,000		67,375
Cheniere Energy Partners LP
3.250%, due 01/31/32		385,000		298,544
4.500%, due 10/01/29		440,000		393,953
Citigroup, Inc.
(fixed, converts to FRN on 03/20/29),
3.980%, due 03/20/304		460,000		406,971
Columbia Pipelines Operating Co. LLC
5.927%, due 08/15/302		65,000		62,762
6.036%, due 11/15/332		230,000		218,418
6.497%, due 08/15/432		70,000		65,076
Comcast Corp.
2.937%, due 11/01/56		300,000		158,940
5.500%, due 11/15/32		430,000		414,198
ConocoPhillips Co.
5.050%, due 09/15/33		200,000		186,357
5.550%, due 03/15/54		130,000		116,203
Constellation Energy Generation LLC
5.800%, due 03/01/33		330,000		312,972

PACE Global Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Corporate bonds—(continued)
United States—(continued)
6.250%, due 10/01/39		175,000	$	162,215
6.500%, due 10/01/53		80,000		75,139
CVS Health Corp.
5.250%, due 01/30/31		90,000		84,705
Diamondback Energy, Inc.
6.250%, due 03/15/33		205,000		202,341
Energy Transfer LP
5.550%, due 02/15/28		402,000		390,261
5.750%, due 02/15/33		495,000		464,037
Entergy Arkansas LLC
5.150%, due 01/15/33		140,000		130,313
FirstEnergy Transmission LLC
2.866%, due 09/15/282		210,000		179,543
Ford Motor Credit Co. LLC
4.867%, due 08/03/27	EUR	677,000		713,595
Freeport-McMoRan, Inc.
5.400%, due 11/14/34		178,000		157,477
General Electric Co.
4.125%, due 09/19/353	EUR	200,000		205,786
Goldman Sachs Group, Inc.
(fixed, converts to FRN on 05/01/28),
4.223%, due 05/01/294		665,000		607,002
(fixed, converts to FRN on 10/21/26),
1.948%, due 10/21/274		280,000		245,564
HCA, Inc.
2.375%, due 07/15/31		130,000		96,660
3.500%, due 09/01/30		117,000		96,834
3.500%, due 07/15/51		190,000		110,069
4.625%, due 03/15/52		185,000		128,796
5.900%, due 06/01/53		10,000		8,454
Intuit, Inc.
5.500%, due 09/15/53		65,000		59,131
ITC Holdings Corp.
5.400%, due 06/01/332		525,000		485,983
JBS USA LUX SA/JBS USA Food Co./JBS Luxembourg SARL
7.250%, due 11/15/532		120,000		107,172
Jersey Central Power & Light Co.
2.750%, due 03/01/322		330,000		253,069
Kimco Realty OP LLC
6.400%, due 03/01/34		230,000		225,785
Lowe's Cos., Inc.
4.250%, due 04/01/52		240,000		166,333
Marvell Technology, Inc.
5.750%, due 02/15/29		67,000		65,134
5.950%, due 09/15/33		109,000		103,529
Meta Platforms, Inc.
4.450%, due 08/15/52		155,000		117,189
5.600%, due 05/15/53		185,000		167,317
Monongahela Power Co.
5.850%, due 02/15/342		60,000		57,160
Morgan Stanley
(fixed, converts to FRN on 07/20/28),
5.449%, due 07/20/294		180,000		173,113

PACE Global Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Corporate bonds—(continued)
United States—(continued)
(fixed, converts to FRN on 07/21/33),
5.424%, due 07/21/344		250,000	$	228,170
(fixed, converts to FRN on 10/21/24),
1.164%, due 10/21/254		560,000		529,790
(fixed, converts to FRN on 11/01/33),
6.627%, due 11/01/344		320,000		319,520
Nasdaq, Inc.
5.550%, due 02/15/34		305,000		282,916
Netflix, Inc.
4.625%, due 05/15/29	EUR	700,000		753,937
Occidental Petroleum Corp.
4.625%, due 06/15/45		85,000		59,730
Oracle Corp.
5.550%, due 02/06/53		446,000		370,533
Pacific Gas & Electric Co.
6.150%, due 01/15/33		210,000		193,275
6.750%, due 01/15/53		143,000		126,562
Sabine Pass Liquefaction LLC
4.500%, due 05/15/30		590,000		529,217
San Diego Gas & Electric Co.
5.350%, due 04/01/53		170,000		145,413
Series UUU, 3.320%, due 04/15/50		80,000		47,934
Southern Co. Gas Capital Corp.
5.750%, due 09/15/33		100,000		95,184
Series 20-A, 1.750%, due 01/15/31		220,000		162,394
Take-Two Interactive Software, Inc.
4.950%, due 03/28/28		175,000		168,156
Texas Instruments, Inc.
5.000%, due 03/14/53		140,000		119,215
Thermo Fisher Scientific, Inc.
4.950%, due 11/21/32		290,000		269,906
T-Mobile USA, Inc.
5.050%, due 07/15/33		322,000		290,986
Verizon Communications, Inc.
1.750%, due 01/20/31		380,000		280,979
Vistra Operations Co. LLC
3.700%, due 01/30/272		209,000		190,026
Warnermedia Holdings, Inc.
5.050%, due 03/15/42		355,000		262,959
Wells Fargo & Co.
(fixed, converts to FRN on 07/25/28),
5.574%, due 07/25/294		805,000		776,248
(fixed, converts to FRN on 07/25/33),
5.557%, due 07/25/344		360,000		329,541
				20,673,201
Total corporate bonds (cost—$58,850,265)				56,927,364
Mortgage-backed securities: 3.2%
Spain: 0.5%
Bankinter 10 FTA, Series 10, Class A2,
3 mo. EUR EURIBOR + 0.160%,
4.094%, due 06/21/433,4	EUR	540,939		571,036

PACE Global Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Mortgage-backed securities—(continued)
Spain—(continued)
Fondo de Titulizacion de Activos Santander Hipotecario 2, Series 2, Class A,
3 mo. EUR EURIBOR + 0.150%,
4.125%, due 01/18/493,4	EUR	340,842	$	355,862
				926,898
United Kingdom: 0.8%
Gemgarto PLC, Series 2021-1A, Class A,
Sterling Overnight Index Average + 0.590%,
5.810%, due 12/16/672,4	GBP	240,915		291,313
Lanark Master Issuer PLC, Series 2020-1A, Class 2A,
Sterling Overnight Index Average + 0.570%,
5.789%, due 12/22/692,4	GBP	276,750		336,400
Silverstone Master Issuer PLC
Series 2022-1A, Class 1A, Secured Overnight Financing Rate + 0.380%,
5.724%, due 01/21/702,4		191,800		191,430
Series 2022-1A, Class 2A, Sterling Overnight Index Average + 0.290%,
5.510%, due 01/21/702,4	GBP	600,000		724,402
				1,543,545
United States: 1.9%
Angel Oak Mortgage Trust, Series 2020-1, Class A1,
2.466%, due 12/25/592,4		83,063		76,568
Citigroup Commercial Mortgage Trust, Series 2015-GC33, Class B,
4.574%, due 09/10/584		470,000		362,666
CSAIL Commercial Mortgage Trust, Series 2016-C6, Class C,
4.919%, due 01/15/494		320,000		262,295
FNMA REMIC, Series 2021-86, Class T,
2.500%, due 09/25/48		1,686,041		1,385,934
GS Mortgage Securities Trust, Series 2017-GS6, Class C,
4.322%, due 05/10/504		350,000		254,826
OBX Trust
Series 2020-EXP1, Class 2A1, 1 mo. USD Term SOFR + 0.864%,
6.189%, due 02/25/602,4		89,571		80,358
Series 2023-NQM1, Class A1,
6.120%, due 11/25/622,4		224,143		220,691
Starwood Mortgage Residential Trust, Series 2020-1, Class A1,
2.275%, due 02/25/502,4		15,348		14,174
UBS Commercial Mortgage Trust
Series 2017-C1, Class C,
4.431%, due 11/15/504		360,000		286,423
Series 2018-C11, Class B,
4.713%, due 06/15/514		440,000		355,636

PACE Global Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Mortgage-backed securities—(continued)
United States—(continued)
Verus Securitization Trust, Series 2020-1, Class A1,
2.417%, due 01/25/602,4		71,959	$	67,265
WFRBS Commercial Mortgage Trust, Series 2013-C13, Class C,
3.910%, due 05/15/454		81,832		77,945
				3,444,781
Total mortgage-backed securities (cost—$6,768,260)				5,915,224
Non-U.S. government agency obligations: 36.0%
Australia: 0.3%
Australia Government Bonds Series 166,
3.000%, due 11/21/333	AUD	1,120,000		602,479
Bermuda: 0.5%
Bermuda Government International Bonds
4.750%, due 02/15/292		910,000		853,261
Canada: 0.8%
Hydro-Quebec Series 19,
6.500%, due 02/15/35	CAD	750,000		613,396
Province of British Columbia
2.800%, due 06/18/48	CAD	300,000		150,691
Province of Quebec
5.000%, due 12/01/41	CAD	1,100,000		792,048
				1,556,135
China: 7.3%
China Government Bonds
Series INBK, 2.600%, due 09/01/32	CNY	18,000,000		2,438,108
2.800%, due 11/15/32	CNY	39,200,000		5,405,166
Series INBK, 2.880%, due 02/25/33	CNY	16,650,000		2,317,204
4.290%, due 05/22/293	CNY	17,000,000		2,485,943
4.500%, due 05/22/343	CNY	6,000,000		926,300
				13,572,721
France: 5.4%
Caisse d'Amortissement de la Dette Sociale
0.450%, due 01/19/323	EUR	2,800,000		2,327,038
0.600%, due 11/25/293	EUR	2,700,000		2,427,180
French Republic Government Bonds OAT
2.500%, due 05/25/433	EUR	6,240,000		5,367,077
				10,121,295
Hungary: 0.3%
Hungary Government International Bonds
6.125%, due 05/22/282		531,000		526,789
Italy: 4.7%
Italy Buoni Poliennali Del Tesoro
Series 5Y, 3.400%, due 04/01/283	EUR	4,360,000		4,511,141
Series 3Y, 3.500%, due 01/15/263	EUR	4,040,000		4,252,779
				8,763,920
Japan: 5.7%
Japan Government Ten Year Bonds Series 361,
0.100%, due 12/20/30	JPY	1,449,050,000		9,164,841
Japan Government Twenty Year Bonds Series 183,
1.400%, due 12/20/42	JPY	224,900,000		1,420,739
				10,585,580

PACE Global Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Non-U.S. government agency obligations—(continued)
Mexico: 0.3%
Mexico Bonos Series M,
7.750%, due 05/29/31	MXN	10,000,000	$	482,943
Morocco: 0.2%
Morocco Government International Bonds
2.375%, due 12/15/272		340,000		290,700
Saudi Arabia: 0.1%
Saudi Government International Bonds
4.750%, due 01/18/282		290,000		280,575
South Korea: 2.4%
Korea Treasury Bonds Series 2409,
3.000%, due 09/10/24	KRW	5,964,350,000		4,389,859
Spain: 0.7%
Spain Government Bonds
3.150%, due 04/30/333	EUR	1,400,000		1,403,422
Supranationals: 6.5%
Banque Ouest Africaine de Developpement
2.750%, due 01/22/332	EUR	227,000		168,368
4.700%, due 10/22/313		850,000		667,938
European Financial Stability Facility
2.375%, due 06/21/323	EUR	2,400,000		2,337,723
European Union
1.000%, due 07/06/323	EUR	10,360,000		8,996,447
				12,170,476
United Kingdom: 0.8%
U.K. Gilts
1.250%, due 07/31/513	GBP	700,000		379,755
1.625%, due 10/22/283	GBP	1,105,000		1,184,750
				1,564,505
Total non-U.S. government agency obligations (cost—$72,105,081)				67,164,660
U.S. government agency obligations: 15.3%
United States: 15.3%
FHLMC
2.500%, due 11/01/51		2,116,070		1,647,200
5.500%, due 04/01/53		2,984,561		2,849,002
6.000%, due 07/01/53		945,185		920,125
FNMA
2.500%, due 07/01/51		3,693,668		2,862,000
2.500%, due 12/01/51		764,378		594,897
2.500%, due 05/01/52		844,234		654,015
3.000%, due 08/01/51		1,937,579		1,568,061
3.000%, due 11/01/51		2,021,557		1,629,059
3.000%, due 03/01/52		803,863		646,971
3.500%, due 10/01/51		2,103,899		1,782,827
3.500%, due 04/01/52		4,761,564		4,004,175
3.500%, due 05/01/58		1,322,038		1,127,814
4.000%, due 01/01/50		3,253,655		2,866,157
5.000%, due 08/01/52		1,133,775		1,045,653
5.500%, due 02/01/53		2,352,737		2,233,407
GNMA II
5.000%, due 09/20/52		1,172,255		1,091,752
6.000%, due 01/20/53		998,672		978,610
Total U.S. government agency obligations (cost—$31,706,062)				28,501,725
U.S. Treasury obligations: 11.3%
United States: 11.3%
U.S. Treasury Bonds
3.000%, due 08/15/52		2,290,000		1,570,797
3.625%, due 02/15/53		2,600,000		2,025,969
3.625%, due 05/15/53		10,000		7,795
3.875%, due 02/15/43		870,000		723,323

PACE Global Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
U.S. Treasury obligations—(continued)
United States—(continued)
4.000%, due 11/15/52		65,000	$	54,321
4.375%, due 08/15/43		1,230,000		1,097,006
4.625%, due 02/15/40		4,280,000		4,014,172
U.S. Treasury Notes
3.500%, due 02/15/33		4,730,000		4,234,089
3.875%, due 08/15/33		1,010,000		929,674
4.625%, due 10/15/26		2,060,000		2,044,711
4.625%, due 09/30/28		1,300,000		1,288,219
4.625%, due 09/30/30		970,000		953,631
5.000%, due 09/30/25		2,050,000		2,046,236
Total U.S. Treasury obligations (cost—$22,968,213)				20,989,943
	Number of shares
Short-term investments: 6.6%
Investment companies: 6.6%
State Street Institutional U.S. Government Money Market Fund, 5.301%6 (cost $12,247,947)		12,247,947		12,247,947
Investment of cash collateral from securities loaned—0.1%
Money market funds—0.1%
State Street Navigator Securities Lending Government Money Market Portfolio, 5.404%6 (cost $280,200)		280,200		280,200
Total investments (cost $204,926,028)7—103.0%				192,027,063
Liabilities in excess of other assets—(3.0)%				(5,570,845	)
Net assets—100.0%			$	186,456,218

For a listing of defined portfolio acronyms that are used throughout the Portfolio of investments as well as the tables that follow, please refer to the Glossary of terms used in the Portfolio of investments.

Futures Contract

Number of contracts	Currency		Expiration date	Current notional amount			Value			Unrealized appreciation (depreciation)
Interest rate futures buy contracts
75	USD	3 Month SOFR Futures	March 2024	$	17,723,287		$	17,730,000		$	6,713
49	AUD	Australian Bond 10 Year Futures	December 2023		3,488,610			3,364,585			(124,025	)
29	CAD	Canadian Bond 10 Year Futures	December 2023		2,482,750			2,403,440			(79,310	)
16	EUR	Euro BUND 10 Year Futures	December 2023		2,193,587			2,183,750			(9,837	)
1	EUR	French Government Bond Futures	December 2023		134,189			130,453			(3,736	)
28	GBP	United Kingdom Long Gilt Bond Futures	December 2023		3,222,936			3,170,475			(52,461	)
U.S. Treasury futures buy contracts
1	USD	U.S. Long Bond Futures	December 2023		109,845			109,438			(407	)
21	USD	U.S. Treasury Note 2 Year Futures	December 2023		4,248,828			4,250,859			2,031
Total				$	33,604,032		$	33,343,000		$	(261,032	)
Interest rate futures sell contracts
75	USD	3 Month SOFR Futures	September 2024	$	(17,770,701	)	$	(17,779,687	)	$	(8,986	)
18	EUR	EURO BOBL 5 Year Index Future	December 2023		(2,199,044	)		(2,214,837	)		(15,793	)
37	EUR	EURO Schatz 2 Year Index Futures	December 2023		(4,109,792	)		(4,117,571	)		(7,779	)
9	EUR	German Euro Buxl 30 Year Futures	December 2023		(1,203,114	)		(1,146,748	)		56,366
29	EUR	Italian Government Bond Futures	December 2023		(3,426,785	)		(3,382,091	)		44,694
U.S. Treasury futures sell contracts
46	USD	U.S. Treasury Note 10 Year Futures	December 2023		(5,064,827	)		(4,883,906	)		180,921
17	USD	U.S. Treasury Note 5 Year Futures	December 2023		(1,779,654	)		(1,776,102	)		3,552
27	USD	Ultra U.S. Treasury Bond Futures	December 2023		(3,170,879	)		(3,039,187	)		131,692

PACE Global Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

Number of contracts	Currency		Expiration date	Current notional amount			Value			Unrealized appreciation (depreciation)
102	USD	Ultra U.S. Treasury Note 10 Year Futures	December 2023		(11,315,443	)		(11,100,469	)	$	214,974
Total				$	(50,040,239	)	$	(49,440,598	)	$	599,641
Net unrealized appreciation (depreciation)										$	338,609

Forward foreign currency contracts

Counterparty	Sell		Purchase		Settlement date	Unrealized appreciation (depreciation)
BB	CAD	28,207	USD	20,447	11/22/23	$	101
BB	EUR	113,097	USD	120,371	11/22/23		607
BB	GBP	1,898,300	USD	2,318,161	11/22/23		11,414
BB	NZD	1,188,534	USD	692,142	11/22/23		(339	)
BB	USD	752,700	AUD	1,189,976	11/22/23		2,656
BNP	CAD	956,510	USD	696,663	11/22/23		6,719
BNP	EUR	331,120	PLN	1,474,411	11/22/23		(675	)
BNP	EUR	661,580	THB	25,265,757	11/22/23		3,545
BNP	EUR	10,023,824	USD	10,595,332	11/22/23		(19,344	)
BNP	GBP	573,913	USD	696,664	11/22/23		(1,086	)
BNP	SGD	966,023	USD	708,732	11/22/23		2,550
BNP	USD	29,549	CAD	40,871	11/22/23		(68	)
BNP	USD	190,149	CNY	1,393,848	11/22/23		677
BNP	USD	1,783,181	CZK	41,813,330	11/22/23		16,258
BNP	USD	156,899	EUR	148,137	11/22/23		(30	)
BNP	USD	3,668,997	GBP	3,008,009	11/22/23		(12,494	)
BNP	USD	143,806	NOK	1,572,230	11/22/23		(2,978	)
BNP	USD	369,296	PLN	1,593,176	11/22/23		8,857
BNP	USD	1,746,011	SEK	19,127,712	11/22/23		(31,084	)
BNP	ZAR	1,784,195	USD	93,559	11/22/23		(2,009	)
BOA	USD	710,005	SGD	965,607	11/22/23		(4,127	)
CITI	AUD	551,252	USD	346,710	11/22/23		(3,206	)
CITI	CHF	320,863	AUD	553,881	11/22/23		(1,890	)
CITI	CHF	53,068	AUD	552,920	11/22/23		3,271
CITI	GBP	572,707	CAD	950,007	11/22/23		(10,924	)
CITI	NZD	598,678	USD	349,430	11/22/23		620
CITI	SEK	3,882,425	CHF	625,899	11/22/23		(2,472	)
CITI	THB	25,999,281	USD	720,262	11/22/23		(4,303	)
CITI	USD	2,266,165	CAD	3,097,711	11/22/23		(31,746	)
CITI	USD	374,087	DKK	2,646,152	11/22/23		1,426
CITI	USD	29,521	GBP	24,076	11/22/23		(254	)
CITI	USD	1,707,798	NZD	2,904,404	11/22/23		(15,590	)
CITI	USD	1,305,217	THB	47,397,648	11/22/23		15,691
GSI	AUD	549,440	JPY	51,678,872	11/22/23		(6,748	)
GSI	CHF	320,495	SEK	3,879,687	11/22/23		(5,229	)
GSI	CNY	1,381,040	USD	189,624	11/22/23		552
GSI	EUR	667,667	CNY	5,173,882	11/22/23		1,314
GSI	EUR	335,420	PLN	1,507,361	11/22/23		2,592
GSI	EUR	295,744	USD	314,823	11/22/23		1,646
GSI	GBP	286,099	USD	348,475	11/22/23		696
GSI	HUF	214,824,433	USD	579,566	11/22/23		(12,828	)

PACE Global Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

Forward foreign currency contracts—(concluded)

Counterparty	Sell		Purchase		Settlement date	Unrealized appreciation (depreciation)
GSI	JPY	278,147,743	AUD	2,948,073	11/22/23	$	30,514
GSI	MXN	9,720,338	USD	539,720	11/22/23		2,248
GSI	SEK	3,848,927	CHF	311,782	11/22/23		(1,611	)
GSI	SEK	3,882,922	EUR	334,423	11/22/23		6,006
GSI	USD	22,629	CAD	30,755	11/22/23		(445	)
GSI	USD	121,653	CNY	887,953	11/22/23		(87	)
GSI	USD	4,738,790	EUR	4,451,111	11/22/23		(25,310	)
GSI	USD	351,283	JPY	53,024,118	11/22/23		(361	)
GSI	USD	154,015	RON	726,166	11/22/23		630
GSI	USD	403,953	SGD	551,943	11/22/23		(472	)
GSI	USD	714,334	THB	26,209,628	11/22/23		16,093
GSI	USD	748,752	ZAR	14,576,010	11/22/23		31,997
GSI	ZAR	13,331,288	USD	703,591	11/22/23		(10,486	)
HSBC	AUD	376,646	USD	237,649	11/22/23		(1,433	)
HSBC	CNY	16,945,000	GBP	1,901,058	11/22/23		(8,969	)
HSBC	JPY	52,403,358	CAD	480,590	11/22/23		(157	)
HSBC	JPY	23,587,987	USD	159,465	11/22/23		7,404
HSBC	USD	30,094	CAD	41,159	11/22/23		(405	)
HSBC	USD	1,403,909	MXN	25,888,507	11/22/23		27,558
MSCI	EUR	2,557,328	USD	2,699,265	11/22/23		(8,804	)
MSCI	EUR	103,004	USD	109,882	11/22/23		806
MSCI	GBP	132,466	USD	161,177	11/22/23		334
MSCI	USD	10,136	CAD	13,816	11/22/23		(171	)
MSCI	USD	351,393	GBP	288,991	11/22/23		(99	)
MSCI	USD	293,878	ILS	1,165,259	11/22/23		(5,365	)
RBC	CAD	27,056	USD	19,758	11/22/23		243
RBC	JPY	1,053,558,948	USD	7,015,663	11/22/23		43,053
RBC	USD	26,962	GBP	22,232	11/22/23		63
SCB	USD	13,039	EUR	12,312	11/22/23		(1	)
SSB	USD	2,457,953	CNY	18,017,056	11/22/23		8,691
TDB	USD	762,448	CHF	689,450	11/22/23		(2,924	)
TDB	USD	19,845,910	JPY	2,953,229,201	11/22/23		(300,999	)
Net unrealized appreciation (depreciation)						$	(280,691	)

Fair valuation summary

The following is a summary of the fair valuations according to the inputs used as of October 31, 2023 in valuing the Portfolio's investments. In the event a Portfolio holds investments for which fair value is measured using the NAV per share practical expedient (or its equivalent), a separate column will be added to the fair value hierarchy table; this is intended to permit reconciliation to the amounts presented in the Portfolio of investments:

Description	Unadjusted quoted prices in active market for identical investments (Level 1)		Other significant observable inputs (Level 2)		Unobservable inputs (Level 3)		Total
Assets
Corporate bonds	$	—	$	56,927,364	$	—	$	56,927,364
Mortgage-backed securities		—		5,915,224		—		5,915,224

PACE Global Fixed Income Investments

Portfolio of investments – October 31, 2023 (unaudited) 

Description	Unadjusted quoted prices in active market for identical investments (Level 1)			Other significant observable inputs (Level 2)			Unobservable inputs (Level 3)		Total
Non-U.S. government agency obligations		—			67,164,660			—		67,164,660
U.S. government agency obligations		—			28,501,725			—		28,501,725
U.S. Treasury obligations		—			20,989,943			—		20,989,943
Investment companies		—			12,247,947			—		12,247,947
Investment of cash collateral from securities loaned		—			280,200			—		280,200
Futures contracts		143,988			496,955			—		640,943
Forward foreign currency contracts		—			256,832			—		256,832
Total	$	143,988		$	192,780,850		$	—	$	192,924,838
Liabilities
Futures contracts	$	(302,334	)	$	—		$	—	$	(302,334	)
Forward foreign currency contracts		—			(537,523	)		—		(537,523	)
Total	$	(302,334	)	$	(537,523	)	$	—	$	(839,857	)

At October 31, 2023, there were no transfers in or out of Level 3.

Portfolio footnotes

1	In U.S. dollars unless otherwise indicated.
2	Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933. These securities are considered liquid, unless noted otherwise, and may be resold in transactions exempt from registrations, normally to qualified institutional buyers. Securities exempt from registration pursuant to Rule 144A, in the amount of $17,973,413, represented 9.6% of the Portfolios net assets at period end.
3	Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States. Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption from registration.
4	Floating or variable rate securities. The rates disclosed are as of October 31, 2023. For securities based on a published reference rate and spread, the reference rate and spread are indicated within the description. Variable rate securities with a floor or ceiling feature are disclosed at the inherent rate, where applicable. Certain variable rate securities are not based on a published reference rate and spread, but are determined by the issuer or agent and are based on current market conditions; these securities do not indicate a reference rate and spread in the description.
5	Security, or portion thereof, was on loan at the period end.
6	Rates shown reflect yield at October 31, 2023.
7	Includes $274,256 of investments in securities on loan, at value plus accrued interest and dividends, if any. The Fund includes cash collateral of $280,200.

PACE High Yield Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Corporate bonds—96.0%
Advertising: 0.6%
Clear Channel Outdoor Holdings, Inc.
5.125%, due 08/15/272		200,000	$	177,759
7.500%, due 06/01/292		125,000		90,986
7.750%, due 04/15/282		200,000		152,896
Lamar Media Corp.
3.750%, due 02/15/28		25,000		22,143
4.000%, due 02/15/30		75,000		63,458
Outfront Media Capital LLC/Outfront Media Capital Corp.
4.250%, due 01/15/292		100,000		81,459
4.625%, due 03/15/302		175,000		140,437
5.000%, due 08/15/272		225,000		199,863
Summer BC Holdco B SARL
5.750%, due 10/31/263		175,000		167,121
				1,096,122
Aerospace & defense: 1.6%
Bombardier, Inc.
6.000%, due 02/15/282		175,000		154,854
7.125%, due 06/15/262		25,000		24,055
7.500%, due 02/01/292		100,000		92,626
7.875%, due 04/15/272		450,000		432,888
Egmv13793
10.000%, due 04/19/264,5,6		96,538		0
Howmet Aerospace, Inc.
5.950%, due 02/01/37		225,000		205,539
Rolls-Royce PLC
1.625%, due 05/09/283		100,000		89,761
5.750%, due 10/15/273		150,000		171,929
Spirit AeroSystems, Inc.
4.600%, due 06/15/28		125,000		98,895
7.500%, due 04/15/252		150,000		149,630
9.375%, due 11/30/292		100,000		102,693
TransDigm, Inc.
4.625%, due 01/15/29		200,000		172,448
4.875%, due 05/01/29		100,000		86,638
5.500%, due 11/15/27		725,000		674,942
6.750%, due 08/15/282		225,000		218,471
7.500%, due 03/15/27		150,000		149,816
Triumph Group, Inc.
7.750%, due 08/15/25		50,000		47,500
9.000%, due 03/15/282		100,000		97,124
				2,969,809
Agriculture: 0.5%
Darling Ingredients, Inc.
5.250%, due 04/15/272		75,000		71,360
6.000%, due 06/15/302		100,000		93,820
Japfa Comfeed Indonesia Tbk. PT
5.375%, due 03/23/263		200,000		165,415
MHP Lux SA
6.250%, due 09/19/293		500,000		311,725
Tereos Finance Groupe I SA
4.750%, due 04/30/273		100,000		100,123
7.250%, due 04/15/282		150,000		161,229
				903,672
Airlines: 1.4%
ABRA Global Finance
6.000% Cash or 5.500% PIK,
11.500%, due 03/02/282,7		450,645		346,290

PACE High Yield Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Corporate bonds—(continued)
Airlines—(continued)
Air Canada
3.875%, due 08/15/262		25,000	$	22,747
Air France-KLM
1.875%, due 01/16/253		200,000		202,154
3.875%, due 07/01/263		400,000		402,672
Allegiant Travel Co.
7.250%, due 08/15/272		50,000		45,250
American Airlines, Inc.
7.250%, due 02/15/282		100,000		92,982
11.750%, due 07/15/252		250,000		264,875
American Airlines, Inc./AAdvantage Loyalty IP Ltd.
5.500%, due 04/20/262		187,500		182,334
5.750%, due 04/20/292		200,000		180,411
Delta Air Lines, Inc.
7.375%, due 01/15/26		75,000		75,746
Gol Finance SA
8.000%, due 06/30/263		450,000		206,262
Hawaiian Brand Intellectual Property Ltd./HawaiianMiles Loyalty Ltd.
5.750%, due 01/20/262		100,000		73,887
Transportes Aereos Portugueses SA
5.625%, due 12/02/243		300,000		313,386
United Airlines Holdings, Inc.
5.000%, due 02/01/24		16,000		15,842
United Airlines Pass-Through Trust
Series 2020-1, Class A,
5.875%, due 10/15/27		32,349		31,849
United Airlines, Inc.
4.375%, due 04/15/262		50,000		46,381
4.625%, due 04/15/292		150,000		126,705
				2,629,773
Apparel: 0.2%
Crocs, Inc.
4.125%, due 08/15/312		175,000		132,993
4.250%, due 03/15/292		25,000		20,500
CT Investment GmbH
5.500%, due 04/15/263		125,000		123,890
Hanesbrands, Inc.
9.000%, due 02/15/312		50,000		46,412
Kontoor Brands, Inc.
4.125%, due 11/15/292		75,000		61,734
				385,529
Auto manufacturers: 2.2%
Allison Transmission, Inc.
3.750%, due 01/30/312		25,000		19,815
4.750%, due 10/01/272		75,000		68,397
Ford Motor Co.
3.250%, due 02/12/32		50,000		37,737
4.750%, due 01/15/43		300,000		208,390
5.291%, due 12/08/46		375,000		272,439
6.100%, due 08/19/32		75,000		69,371
9.625%, due 04/22/30		200,000		223,011

PACE High Yield Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Corporate bonds—(continued)
Auto manufacturers—(continued)
Ford Motor Credit Co. LLC
3.250%, due 09/15/25		100,000	$	102,742
3.625%, due 06/17/31		600,000		474,000
3.815%, due 11/02/27		200,000		178,301
4.000%, due 11/13/30		200,000		164,737
4.867%, due 08/03/27		175,000		184,459
5.113%, due 05/03/29		600,000		546,094
6.800%, due 05/12/28		200,000		199,429
6.860%, due 06/05/26		275,000		332,726
6.950%, due 06/10/26		200,000		200,500
7.350%, due 11/04/27		200,000		202,435
Jaguar Land Rover Automotive PLC
4.500%, due 01/15/263		100,000		103,056
5.875%, due 11/15/243		100,000		106,339
5.875%, due 01/15/282		200,000		180,008
6.875%, due 11/15/263		100,000		107,656
Mclaren Finance PLC
7.500%, due 08/01/262		200,000		171,000
Wabash National Corp.
4.500%, due 10/15/282		25,000		20,688
				4,173,330
Auto parts & equipment: 2.6%
Adient Global Holdings Ltd.
7.000%, due 04/15/282		25,000		24,608
8.250%, due 04/15/312		25,000		24,332
Adler Pelzer Holding GmbH
9.500%, due 04/01/272		200,000		195,903
Clarios Global LP
6.750%, due 05/15/252		42,000		41,667
Clarios Global LP/Clarios U.S. Finance Co.
4.375%, due 05/15/263		325,000		328,838
6.250%, due 05/15/262		25,000		24,440
8.500%, due 05/15/272		25,000		24,614
Dana Financing Luxembourg SARL
3.000%, due 07/15/293		275,000		229,241
8.500%, due 07/15/312		125,000		134,908
Dana, Inc.
4.500%, due 02/15/32		25,000		19,577
Dealer Tire LLC/DT Issuer LLC
8.000%, due 02/01/282		75,000		70,347
Dornoch Debt Merger Sub, Inc.
6.625%, due 10/15/292		275,000		216,294
Forvia SE
2.750%, due 02/15/273		350,000		336,079
3.125%, due 06/15/263		100,000		99,483
3.750%, due 06/15/283		100,000		96,207
Goodyear Tire & Rubber Co.
5.000%, due 07/15/29		75,000		64,502
5.250%, due 04/30/31		25,000		20,560
5.250%, due 07/15/31		350,000		285,029
7.000%, due 03/15/28		25,000		24,495
9.500%, due 05/31/25		75,000		75,862
IHO Verwaltungs GmbH
8.750% Cash or 9.500% PIK,
8.750%, due 05/15/282		500,000		544,329

PACE High Yield Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Corporate bonds—(continued)
Auto parts & equipment—(continued)
Metalsa Sapi de CV
3.750%, due 05/04/313		200,000	$	149,300
Nemak SAB de CV
2.250%, due 07/20/283		325,000		268,397
2.250%, due 07/20/282		125,000		103,230
3.625%, due 06/28/313		200,000		146,750
Standard Profil Automotive GmbH
6.250%, due 04/30/263		225,000		181,649
TI Automotive Finance PLC
3.750%, due 04/15/293		275,000		241,693
ZF Europe Finance BV
3.000%, due 10/23/293		200,000		177,232
ZF Finance GmbH
2.750%, due 05/25/273		400,000		380,921
3.000%, due 09/21/253		100,000		101,313
ZF North America Capital, Inc.
6.875%, due 04/14/282		150,000		145,357
7.125%, due 04/14/302		150,000		145,510
				4,922,667
Banks: 3.3%
Access Bank PLC
6.125%, due 09/21/263		200,000		166,625
Akbank TAS
5.125%, due 03/31/253		400,000		382,000
Banco de Bogota SA
6.250%, due 05/12/263		500,000		472,090
Banco de Credito Social Cooperativo SA
(fixed, converts to FRN on 03/09/27),
1.750%, due 03/09/283,6		200,000		173,594
Banco de Sabadell SA
1.125%, due 03/27/253		200,000		201,355
Banco do Brasil SA
3.250%, due 09/30/263		250,000		228,125
Banco Industrial SA
(fixed, converts to FRN on 01/29/26),
4.875%, due 01/29/312,6		150,000		135,789
Bank of America Corp.
Series JJ,
(fixed, converts to FRN on 06/20/24),
5.125%, due 06/20/246,8		75,000		73,165
Barclays PLC
(fixed, converts to FRN on 06/15/25),
7.125%, due 06/15/256,8		200,000		226,142
(fixed, converts to FRN on 06/15/24),
8.000%, due 06/15/246,8		200,000		195,609
CaixaBank SA
(fixed, converts to FRN on 06/13/24),
6.750%, due 06/13/243,6,8		400,000		418,405
Citigroup, Inc.
Series V,
(fixed, converts to FRN on 01/30/25),
4.700%, due 01/30/256,8		175,000		156,476
Series T,
(fixed, converts to FRN on 08/15/26),
6.250%, due 08/15/266,8		125,000		117,345

PACE High Yield Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Corporate bonds—(continued)
Banks—(continued)
Commerzbank AG
(fixed, converts to FRN on 12/29/26),
1.375%, due 12/29/313,6		200,000	$	177,439
(fixed, converts to FRN on 12/05/25),
4.000%, due 12/05/303,6		100,000		101,354
(fixed, converts to FRN on 12/06/27),
6.500%, due 12/06/323,6		100,000		104,948
Deutsche Bank AG
(fixed, converts to FRN on 06/24/27),
4.000%, due 06/24/323,6		400,000		380,916
(fixed, converts to FRN on 05/19/26),
5.625%, due 05/19/313,6		100,000		102,797
Freedom Mortgage Corp.
6.625%, due 01/15/272		250,000		216,373
7.625%, due 05/01/262		75,000		69,021
12.000%, due 10/01/282		25,000		25,080
12.250%, due 10/01/302		25,000		25,008
Goldman Sachs Group, Inc.
Series R,
(fixed, converts to FRN on 02/10/25),
4.950%, due 02/10/256,8		75,000		69,071
HDFC Bank Ltd.
(fixed, converts to FRN on 02/25/27),
3.700%, due 08/25/263,6,8		200,000		172,102
Intesa Sanpaolo SpA
2.925%, due 10/14/303		250,000		216,287
3.928%, due 09/15/263		250,000		256,760
JPMorgan Chase & Co.
Series HH,
(fixed, converts to FRN on 02/01/25),
4.600%, due 02/01/256,8		75,000		69,875
Series S,
(fixed, converts to FRN on 02/01/24),
6.750%, due 02/01/246,8		125,000		124,905
Turkiye Vakiflar Bankasi TAO
8.125%, due 03/28/242		250,000		249,562
UniCredit SpA
(fixed, converts to FRN on 09/23/24),
2.000%, due 09/23/293,6		600,000		605,560
(fixed, converts to FRN on 01/15/27),
2.731%, due 01/15/323,6		325,000		301,506
				6,215,284
Beverages: 0.4%
Central American Bottling Corp./CBC Bottling Holdco SL/Beliv Holdco SL
5.250%, due 04/27/292		200,000		175,674
Primo Water Holdings, Inc.
3.875%, due 10/31/283		456,000		421,801
4.375%, due 04/30/292		150,000		126,557
Triton Water Holdings, Inc.
6.250%, due 04/01/292		100,000		82,418
				806,450
Biotechnology: 0.1%
Grifols SA
3.875%, due 10/15/283		225,000		197,752

PACE High Yield Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Corporate bonds—(continued)
Building Materials: 1.8%
AmeriTex HoldCo Intermediate LLC
10.250%, due 10/15/282		50,000	$	47,275
Builders FirstSource, Inc.
4.250%, due 02/01/322		275,000		218,861
5.000%, due 03/01/302		100,000		87,267
6.375%, due 06/15/322		225,000		205,936
Cemex SAB de CV
(fixed, converts to FRN on 09/08/26),
5.125%, due 06/08/262,6,8		200,000		184,072
5.450%, due 11/19/292		200,000		185,125
5.450%, due 11/19/293		200,000		185,125
Compact Bidco BV
5.750%, due 05/01/263		225,000		116,294
5.750%, due 05/01/262		200,000		103,372
Emerald Debt Merger Sub LLC
6.625%, due 12/15/302		50,000		47,562
Griffon Corp.
5.750%, due 03/01/28		250,000		225,767
James Hardie International Finance DAC
3.625%, due 10/01/263		175,000		177,374
3.625%, due 10/01/262		150,000		152,035
JELD-WEN, Inc.
4.625%, due 12/15/252		25,000		23,594
Knife River Corp.
7.750%, due 05/01/312		50,000		49,814
MIWD Holdco II LLC/MIWD Finance Corp.
5.500%, due 02/01/302		75,000		59,531
New Enterprise Stone & Lime Co., Inc.
5.250%, due 07/15/282		125,000		110,311
9.750%, due 07/15/282		100,000		99,750
Oscar AcquisitionCo LLC/Oscar Finance, Inc.
9.500%, due 04/15/302		50,000		44,118
PGT Innovations, Inc.
4.375%, due 10/01/292		125,000		116,697
Smyrna Ready Mix Concrete LLC
6.000%, due 11/01/282		175,000		161,802
Standard Industries, Inc.
2.250%, due 11/21/263		175,000		162,020
4.375%, due 07/15/302		175,000		142,979
5.000%, due 02/15/272		125,000		115,534
Summit Materials LLC/Summit Materials Finance Corp.
5.250%, due 01/15/292		100,000		90,547
6.500%, due 03/15/272		50,000		48,625
West China Cement Ltd.
4.950%, due 07/08/263		200,000		136,870
				3,298,257
Chemicals: 2.5%
ASP Unifrax Holdings, Inc.
7.500%, due 09/30/292		25,000		13,375
Avient Corp.
5.750%, due 05/15/252		100,000		97,990
7.125%, due 08/01/302		125,000		120,261

PACE High Yield Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Corporate bonds—(continued)
Chemicals—(continued)
Chemours Co.
4.000%, due 05/15/26		100,000	$	97,181
4.625%, due 11/15/292		75,000		57,928
5.375%, due 05/15/27		25,000		22,585
5.750%, due 11/15/282		175,000		148,006
Consolidated Energy Finance SA
5.000%, due 10/15/282		450,000		373,355
Cornerstone Chemical Co.
8.250% Cash or 2.000% PIK,
10.250%, due 09/01/272		50,000		42,525
Herens Midco SARL
5.250%, due 05/15/293		200,000		118,710
Innophos Holdings, Inc.
9.375%, due 02/15/282		100,000		94,089
Iris Holdings, Inc.
8.750% Cash or 9.500% PIK,
8.750%, due 02/15/262,7		125,000		110,604
Italmatch Chemicals SpA
10.000%, due 02/06/282		125,000		125,993
10.000%, due 02/06/283		100,000		100,795
Lune Holdings SARL
5.625%, due 11/15/283		200,000		172,470
Methanex Corp.
5.125%, due 10/15/27		75,000		68,621
Minerals Technologies, Inc.
5.000%, due 07/01/282		100,000		87,428
Monitchem HoldCo 3 SA
8.750%, due 05/01/282		100,000		101,275
NOVA Chemicals Corp.
4.250%, due 05/15/292		50,000		36,979
5.000%, due 05/01/252		50,000		47,223
5.250%, due 06/01/272		75,000		63,350
OCP SA
3.750%, due 06/23/312		200,000		156,586
6.875%, due 04/25/443		500,000		408,750
Olin Corp.
5.000%, due 02/01/30		75,000		64,782
5.625%, due 08/01/29		150,000		136,380
Olympus Water U.S. Holding Corp.
5.375%, due 10/01/293		100,000		76,158
6.250%, due 10/01/292		200,000		150,000
9.625%, due 11/15/283		325,000		340,956
Polar U.S. Borrower LLC/Schenectady International Group, Inc.
6.750%, due 05/15/262		125,000		55,000
Rain Carbon, Inc.
12.250%, due 09/01/292		50,000		50,875
Sasol Financing USA LLC
5.500%, due 03/18/31		300,000		230,625
SCIH Salt Holdings, Inc.
4.875%, due 05/01/282		150,000		129,507
6.625%, due 05/01/292		150,000		125,734
SCIL IV LLC/SCIL USA Holdings LLC
9.500%, due 07/15/282		150,000		160,494

PACE High Yield Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Corporate bonds—(continued)
Chemicals—(continued)
Trinseo Materials Operating SCA/Trinseo Materials Finance, Inc.
5.125%, due 04/01/292		240,000	$	101,057
5.375%, due 09/01/252		46,000		39,905
Tronox, Inc.
4.625%, due 03/15/292		175,000		137,853
WR Grace Holdings LLC
4.875%, due 06/15/272		125,000		112,295
5.625%, due 08/15/292		125,000		96,875
7.375%, due 03/01/312		50,000		46,314
				4,720,889
Coal: 0.2%
Cloud Peak Energy Resources LLC/Cloud Peak Energy Finance Corp.
3.000%, due 03/15/244,5,9		550,000		5,500
Indika Energy Capital IV Pte. Ltd.
8.250%, due 10/22/252		300,000		296,331
Murray Energy Corp.
0.000%, due 04/15/242,4,5,10		1,268,693		0
				301,831
Commercial services: 4.3%
ADT Security Corp.
4.125%, due 08/01/292		100,000		85,765
4.875%, due 07/15/322		150,000		125,476
Adtalem Global Education, Inc.
5.500%, due 03/01/282		131,000		119,289
Allied Universal Holdco LLC/Allied Universal Finance Corp.
6.000%, due 06/01/292		200,000		144,500
6.625%, due 07/15/262		300,000		280,950
9.750%, due 07/15/272		250,000		217,157
Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 SARL
3.625%, due 06/01/282		100,000		85,124
4.625%, due 06/01/282		200,000		162,940
4.875%, due 06/01/283		250,000		238,532
Alta Equipment Group, Inc.
5.625%, due 04/15/262		75,000		67,092
AMN Healthcare, Inc.
4.000%, due 04/15/292		250,000		207,045
4.625%, due 10/01/272		25,000		22,436
APi Group DE, Inc.
4.125%, due 07/15/292		175,000		142,727
APX Group, Inc.
5.750%, due 07/15/292		175,000		145,489
Arena Luxembourg Finance SARL
1.875%, due 02/01/283		125,000		108,720
1.875%, due 02/01/282		100,000		86,976
ASGN, Inc.
4.625%, due 05/15/282		175,000		154,960
Avis Budget Car Rental LLC/Avis Budget Finance, Inc.
4.750%, due 04/01/282		50,000		42,904
5.375%, due 03/01/292		200,000		171,302
5.750%, due 07/15/272		25,000		22,939
Avis Budget Finance PLC
7.250%, due 07/31/302		200,000		206,662
BCP V Modular Services Finance II PLC
4.750%, due 11/30/283		100,000		87,558

PACE High Yield Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Corporate bonds—(continued)
Commercial services—(continued)
BCP V Modular Services Finance PLC
6.750%, due 11/30/293		150,000	$	110,307
Carriage Services, Inc.
4.250%, due 05/15/292		75,000		61,346
DP World Salaam
(fixed, converts to FRN on 01/01/26),
6.000%, due 10/01/253,6,8		300,000		292,878
eHi Car Services Ltd.
7.000%, due 09/21/263		200,000		127,000
GTCR W-2 Merger Sub LLC
7.500%, due 01/15/312		300,000		296,205
Hertz Corp.
3.000%, due 01/15/282		50,000		4,000
4.625%, due 12/01/262		25,000		20,941
5.000%, due 12/01/292		250,000		179,476
Kapla Holding SAS
3.375%, due 12/15/263		250,000		234,033
La Financiere Atalian SASU
4.000%, due 05/15/243		225,000		185,032
5.125%, due 05/15/253		250,000		191,781
6.625%, due 05/15/253		100,000		87,512
Loxam SAS
5.750%, due 07/15/273		225,000		217,241
Matthews International Corp.
5.250%, due 12/01/252		75,000		71,393
Metis Merger Sub LLC
6.500%, due 05/15/292		300,000		245,144
Mundys SpA
1.875%, due 02/12/283		300,000		271,551
Nassa Topco AS
2.875%, due 04/06/243		100,000		104,244
Neptune Bidco U.S., Inc.
9.290%, due 04/15/292		275,000		242,701
NESCO Holdings II, Inc.
5.500%, due 04/15/292		125,000		107,188
Paysafe Finance PLC/Paysafe Holdings U.S. Corp.
4.000%, due 06/15/292		100,000		80,390
PECF USS Intermediate Holding III Corp.
8.000%, due 11/15/292		125,000		59,298
Prime Security Services Borrower LLC/Prime Finance, Inc.
5.250%, due 04/15/242		60,000		59,620
6.250%, due 01/15/282		75,000		69,548
PROG Holdings, Inc.
6.000%, due 11/15/292		50,000		42,375
Q-Park Holding I BV
2.000%, due 03/01/273		175,000		159,529
2.000%, due 03/01/272		100,000		91,160
Rekeep SpA
7.250%, due 02/01/263		275,000		257,515
Service Corp. International
3.375%, due 08/15/30		25,000		20,027
4.000%, due 05/15/31		125,000		101,176

PACE High Yield Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Corporate bonds—(continued)
Commercial services—(continued)
United Rentals North America, Inc.
3.750%, due 01/15/32		50,000	$	39,755
3.875%, due 02/15/31		125,000		102,882
4.000%, due 07/15/30		225,000		189,076
4.875%, due 01/15/28		50,000		46,389
5.250%, due 01/15/30		225,000		205,455
5.500%, due 05/15/27		25,000		24,152
Verisure Holding AB
3.250%, due 02/15/273		125,000		119,367
7.125%, due 02/01/282		125,000		133,089
Verscend Escrow Corp.
9.750%, due 08/15/262		125,000		124,079
WASH Multifamily Acquisition, Inc.
5.750%, due 04/15/262		100,000		92,500
Williams Scotsman, Inc.
4.625%, due 08/15/282		75,000		66,628
6.125%, due 06/15/252		60,000		58,953
				8,119,479
Computers: 0.8%
CA Magnum Holdings
5.375%, due 10/31/263		200,000		174,172
Exela Intermediate LLC/Exela Finance, Inc.
11.500% PIK,
11.500%, due 04/15/262		153,972		26,175
NCR Atleos Escrow Corp.
9.500%, due 04/01/292		200,000		196,046
NCR Voyix Corp.
5.000%, due 10/01/282		125,000		107,925
5.125%, due 04/15/292		300,000		257,975
5.250%, due 10/01/302		25,000		20,703
Presidio Holdings, Inc.
4.875%, due 02/01/272		150,000		137,429
8.250%, due 02/01/282		100,000		94,632
Seagate HDD Cayman
4.125%, due 01/15/31		80,000		63,386
9.625%, due 12/01/322		226,125		241,053
Vericast Corp.
11.000%, due 09/15/262		126,250		133,509
				1,453,005
Cosmetics/Personal Care: 0.1%
Coty, Inc.
5.750%, due 09/15/282		100,000		106,510
Coty, Inc./HFC Prestige Products, Inc./HFC Prestige International U.S. LLC
6.625%, due 07/15/302		50,000		47,636
				154,146
Distribution & wholesale: 0.4%
American Builders & Contractors Supply Co., Inc.
4.000%, due 01/15/282		50,000		44,883
Azelis Finance NV
5.750%, due 03/15/283		100,000		106,154
BCPE Empire Holdings, Inc.
7.625%, due 05/01/272		175,000		160,517
Li & Fung Ltd.
5.250%, due 05/03/243,8		200,000		70,000

PACE High Yield Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Distribution & wholesale—(continued)
OPENLANE, Inc.
5.125%, due 06/01/252		16,000	$	15,434
Resideo Funding, Inc.
4.000%, due 09/01/292		50,000		40,125
Rexel SA
2.125%, due 12/15/283		225,000		207,819
Ritchie Bros Holdings, Inc.
6.750%, due 03/15/282		50,000		48,999
7.750%, due 03/15/312		50,000		50,125
Windsor Holdings III LLC
8.500%, due 06/15/302		50,000		48,673
				792,729
Diversified financial services: 3.8%
4finance SA
10.750%, due 10/26/26		300,000		281,554
AG Issuer LLC
6.250%, due 03/01/282		150,000		138,093
AG TTMT Escrow Issuer LLC
8.625%, due 09/30/272		25,000		25,113
Agps Bondco PLC
5.000%, due 01/14/293		200,000		61,878
Ally Financial, Inc.
Series B,
(fixed, converts to FRN on 05/15/26),
4.700%, due 05/15/266,8		100,000		64,910
6.700%, due 02/14/33		25,000		21,014
B3 SA—Brasil Bolsa Balcao
4.125%, due 09/20/313		200,000		163,000
Coinbase Global, Inc.
3.375%, due 10/01/282		275,000		201,917
3.625%, due 10/01/312		300,000		203,960
Credito Real SAB de CV SOFOM ER
0.000%, due 02/01/273,10		275,000		32,226
Curo Group Holdings Corp.
7.500%, due 08/01/282		75,000		17,250
doValue SpA
3.375%, due 07/31/263		100,000		91,208
3.375%, due 07/31/262		150,000		136,812
5.000%, due 08/04/252		325,000		330,134
Enact Holdings, Inc.
6.500%, due 08/15/252		100,000		98,226
Garfunkelux Holdco 3 SA
6.750%, due 11/01/253		200,000		158,649
7.750%, due 11/01/253		225,000		201,508
Global Aircraft Leasing Co. Ltd.
6.500% Cash or 7.250% PIK,
6.500%, due 09/15/242,7		264,557		239,084
International Personal Finance PLC
9.750%, due 11/12/25		200,000		199,515
Iqera Group SAS
6.500%, due 09/30/242		83,280		86,004
Jane Street Group/JSG Finance, Inc.
4.500%, due 11/15/292		75,000		63,910
Jefferson Capital Holdings LLC
6.000%, due 08/15/262		150,000		130,991
Jerrold Finco PLC
4.875%, due 01/15/263		100,000		112,611
5.250%, due 01/15/273		175,000		185,105

PACE High Yield Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Diversified financial services—(continued)
Macquarie Airfinance Holdings Ltd.
8.125%, due 03/30/292		50,000	$	49,253
8.375%, due 05/01/282		25,000		24,919
Midcap Financial Issuer Trust
6.500%, due 05/01/282		200,000		169,482
Nationstar Mortgage Holdings, Inc.
5.125%, due 12/15/302		75,000		60,689
5.500%, due 08/15/282		100,000		88,370
5.750%, due 11/15/312		50,000		41,643
6.000%, due 01/15/272		75,000		69,714
Navient Corp.
5.000%, due 03/15/27		231,000		202,894
5.500%, due 03/15/29		250,000		202,500
Series A,
5.625%, due 08/01/33		150,000		101,557
6.125%, due 03/25/24		225,000		223,868
6.750%, due 06/25/25		125,000		121,919
6.750%, due 06/15/26		200,000		189,500
9.375%, due 07/25/30		75,000		70,665
11.500%, due 03/15/31		100,000		99,810
Newday Bondco PLC
13.250%, due 12/15/263		103,000		129,375
NFP Corp.
4.875%, due 08/15/282		300,000		262,670
OneMain Finance Corp.
3.875%, due 09/15/28		25,000		19,766
4.000%, due 09/15/30		75,000		54,863
5.375%, due 11/15/29		25,000		20,556
6.625%, due 01/15/28		25,000		22,744
6.875%, due 03/15/25		50,000		49,330
7.125%, due 03/15/26		400,000		388,479
PennyMac Financial Services, Inc.
4.250%, due 02/15/292		175,000		142,948
5.750%, due 09/15/312		75,000		61,150
PRA Group, Inc.
7.375%, due 09/01/252		25,000		23,375
8.375%, due 02/01/282		100,000		82,375
Provident Funding Associates LP/PFG Finance Corp.
6.375%, due 06/15/252		75,000		66,750
Radian Group, Inc.
4.500%, due 10/01/24		50,000		48,725
Rocket Mortgage LLC/Rocket Mortgage Co.-Issuer, Inc.
3.625%, due 03/01/292		75,000		60,952
3.875%, due 03/01/312		75,000		57,997
4.000%, due 10/15/332		250,000		183,750
SLM Corp.
3.125%, due 11/02/26		250,000		217,336
Synchrony Financial
7.250%, due 02/02/33		75,000		63,601
VistaJet Malta Finance PLC/Vista Management Holding, Inc.
6.375%, due 02/01/302		75,000		50,017
7.875%, due 05/01/272		100,000		76,908

PACE High Yield Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Diversified financial services—(continued)
World Acceptance Corp.
7.000%, due 11/01/262		125,000	$	101,250
				7,146,372
Electric: 2.6%
AES Espana BV
5.700%, due 05/04/282		400,000		348,736
Calpine Corp.
5.000%, due 02/01/312		50,000		40,329
5.125%, due 03/15/282		325,000		290,853
Centrais Eletricas Brasileiras SA
3.625%, due 02/04/252		200,000		190,424
Clean Renewable Power Mauritius Pte. Ltd.
4.250%, due 03/25/272		180,000		153,491
Clearway Energy Operating LLC
3.750%, due 01/15/322		50,000		37,873
4.750%, due 03/15/282		50,000		44,632
ContourGlobal Power Holdings SA
3.125%, due 01/01/282		100,000		85,577
3.125%, due 01/01/283		200,000		171,154
Electricite de France SA
(fixed, converts to FRN on 01/22/26),
5.000%, due 01/22/263,6,8		300,000		303,088
(fixed, converts to FRN on 01/29/25),
5.375%, due 01/29/253,6,8		100,000		103,301
Energia Group Roi Financeco DAC
6.875%, due 07/31/282		250,000		257,581
Eskom Holdings SOC Ltd.
6.350%, due 08/10/283		400,000		362,000
Instituto Costarricense de Electricidad
6.375%, due 05/15/433		200,000		154,700
6.750%, due 10/07/312		300,000		277,500
Investment Energy Resources Ltd.
6.250%, due 04/26/292		200,000		174,000
Lamar Funding Ltd.
3.958%, due 05/07/253		200,000		190,125
Leeward Renewable Energy Operations LLC
4.250%, due 07/01/292		50,000		40,834
Mong Duong Finance Holdings BV
5.125%, due 05/07/292		375,000		337,695
NRG Energy, Inc.
3.375%, due 02/15/292		50,000		40,695
3.625%, due 02/15/312		25,000		18,866
6.625%, due 01/15/27		46,000		44,645
7.000%, due 03/15/332		100,000		94,519
(fixed, converts to FRN on 03/15/28),
10.250%, due 03/15/282,6,8		100,000		96,537
PG&E Corp.
5.000%, due 07/01/28		175,000		158,540
RRI Energy, Inc.
3.000%, due 06/15/174,5,10		75,000		0
SMC Global Power Holdings Corp.
(fixed, converts to FRN on 10/21/25),
7.000%, due 10/21/253,6,8		200,000		158,300
Talen Energy Supply LLC
8.625%, due 06/01/302		75,000		76,208

PACE High Yield Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Electric—(continued)
TransAlta Corp.
7.750%, due 11/15/29		50,000	$	49,746
Vistra Corp.
(fixed, converts to FRN on 12/15/26),
7.000%, due 12/15/262,6,8		150,000		136,500
(fixed, converts to FRN on 10/15/26),
8.000%, due 10/15/262,6,8		50,000		47,500
Vistra Operations Co. LLC
4.375%, due 05/01/292		100,000		84,939
5.500%, due 09/01/262		200,000		190,275
7.750%, due 10/15/312		150,000		144,783
				4,905,946
Electrical components & equipment: 0.0%†
Energizer Holdings, Inc.
6.500%, due 12/31/272		50,000		46,609
Senvion Holding GmbH,10
3.875%, due 10/25/223		400,000		1,058
				47,667
Electronics: 0.6%
Coherent Corp.
5.000%, due 12/15/292		175,000		148,500
Imola Merger Corp.
4.750%, due 05/15/292		600,000		523,076
Likewize Corp.
9.750%, due 10/15/252		75,000		74,493
Sensata Technologies BV
4.000%, due 04/15/292		200,000		170,021
Sensata Technologies, Inc.
3.750%, due 02/15/312		75,000		60,026
TTM Technologies, Inc.
4.000%, due 03/01/292		200,000		163,998
				1,140,114
Energy-Alternate Sources: 0.5%
Continuum Energy Aura Pte. Ltd.
9.500%, due 02/24/273		200,000		197,104
Continuum Energy Levanter Pte. Ltd.
4.500%, due 02/09/272		178,250		164,965
Greenko Power II Ltd.
4.300%, due 12/13/282		231,875		194,508
ReNew Pvt Ltd.
5.875%, due 03/05/272		299,000		271,851
TerraForm Power Operating LLC
4.750%, due 01/15/302		125,000		105,625
5.000%, due 01/31/282		50,000		45,806
				979,859
Engineering & construction: 1.0%
Aeropuertos Dominicanos Siglo XXI SA
6.750%, due 03/30/293		510,000		488,692
Arcosa, Inc.
4.375%, due 04/15/292		50,000		43,625
ATP Tower Holdings LLC/Andean Tower Partners Colombia SAS/Andean Telecom Partners
4.050%, due 04/27/263		200,000		169,400
GMR Hyderabad International Airport Ltd.
4.750%, due 02/02/262		300,000		280,695

PACE High Yield Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Engineering & construction—(continued)
OHL Operaciones SA
5.100% Cash or 4.650% PIK,
6.600%, due 03/31/262,7		201,555	$	191,853
Sarens Finance Co. NV
5.750%, due 02/21/273		338,000		309,107
Sitios Latinoamerica SAB de CV
5.375%, due 04/04/322		200,000		166,500
TopBuild Corp.
4.125%, due 02/15/322		75,000		59,333
Weekley Homes LLC/Weekley Finance Corp.
4.875%, due 09/15/282		200,000		171,750
				1,880,955
Entertainment: 3.8%
888 Acquisitions Ltd.
7.558%, due 07/15/272		175,000		165,725
Affinity Interactive
6.875%, due 12/15/272		150,000		122,263
Allen Media LLC/Allen Media Co.-Issuer, Inc.
10.500%, due 02/15/282		125,000		65,101
Allwyn Entertainment Financing U.K. PLC
7.250%, due 04/30/302		125,000		131,271
Allwyn International AS
3.875%, due 02/15/273		200,000		194,955
AMC Entertainment Holdings, Inc.
5.875%, due 11/15/26		25,000		13,902
10.000% Cash or 12.000% PIK,
10.000%, due 06/15/262		349,932		267,695
Banijay Group SAS
6.500%, due 03/01/263		100,000		104,355
Boyne USA, Inc.
4.750%, due 05/15/292		50,000		43,533
Caesars Entertainment, Inc.
4.625%, due 10/15/292		550,000		452,005
6.250%, due 07/01/252		150,000		147,583
7.000%, due 02/15/302		100,000		96,509
CDI Escrow Issuer, Inc.
5.750%, due 04/01/302		125,000		111,676
Cedar Fair LP
5.250%, due 07/15/29		102,000		87,846
Cedar Fair LP/Canada's Wonderland Co./Magnum Management Corp./Millennium Op
6.500%, due 10/01/28		200,000		185,116
Churchill Downs, Inc.
4.750%, due 01/15/282		75,000		67,164
5.500%, due 04/01/272		150,000		140,692
Cinemark USA, Inc.
5.250%, due 07/15/282		275,000		237,511
5.875%, due 03/15/262		200,000		189,906
Cirsa Finance International SARL
4.750%, due 05/22/253		100,000		103,826

PACE High Yield Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Entertainment—(continued)
Codere Finance 2 Luxembourg SA
8.000% Cash or 3.000% PIK,
11.000%, due 09/30/263		100,556	$	72,351
8.000% Cash or 3.000% PIK,
11.000%, due 09/30/262		61,563		44,295
2.000% Cash or 10.750% PIK,
12.750%, due 11/30/273		217,319		13,222
Everi Holdings, Inc.
5.000%, due 07/15/292		50,000		42,014
Golden Entertainment, Inc.
7.625%, due 04/15/262		175,000		175,000
Inter Media & Communication SpA
6.750%, due 02/09/273		150,000		148,875
6.750%, due 02/09/272		100,000		99,250
International Game Technology PLC
4.125%, due 04/15/262		200,000		188,198
Intralot Capital Luxembourg SA
5.250%, due 09/15/243		550,000		568,425
Jacobs Entertainment, Inc.
6.750%, due 02/15/292		225,000		191,250
LHMC Finco 2 SARL
7.250% Cash or 8.000% PIK,
7.250%, due 10/02/253,7		334,000		339,583
Light & Wonder International, Inc.
7.000%, due 05/15/282		250,000		243,697
7.250%, due 11/15/292		25,000		24,244
7.500%, due 09/01/312		25,000		24,411
Live Nation Entertainment, Inc.
3.750%, due 01/15/282		150,000		131,100
4.750%, due 10/15/272		150,000		137,071
4.875%, due 11/01/242		75,000		73,405
5.625%, due 03/15/262		225,000		215,481
Lottomatica SpA
7.125%, due 06/01/282		100,000		107,340
9.750%, due 09/30/272		150,000		169,609
Midwest Gaming Borrower LLC/Midwest Gaming Finance Corp.
4.875%, due 05/01/292		125,000		104,063
Mohegan Tribal Gaming Authority
8.000%, due 02/01/262		150,000		137,812
Motion Finco SARL
7.375%, due 06/15/302		225,000		226,433
Penn Entertainment, Inc.
4.125%, due 07/01/292		225,000		174,816
Premier Entertainment Sub LLC/Premier Entertainment Finance Corp.
5.625%, due 09/01/292		175,000		123,060
5.875%, due 09/01/312		125,000		84,872
Raptor Acquisition Corp./Raptor Co.-Issuer LLC
4.875%, due 11/01/262		75,000		69,788
Scientific Games Holdings LP/Scientific Games U.S. FinCo, Inc.
6.625%, due 03/01/302		50,000		43,000

PACE High Yield Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Entertainment—(continued)
SeaWorld Parks & Entertainment, Inc.
5.250%, due 08/15/292		150,000	$	130,654
Six Flags Entertainment Corp.
5.500%, due 04/15/272		25,000		22,759
WMG Acquisition Corp.
3.000%, due 02/15/312		25,000		19,407
Wynn Resorts Finance LLC/Wynn Resorts Capital Corp.
5.125%, due 10/01/292		125,000		106,601
				7,180,720
Environmental control: 0.1%
Clean Harbors, Inc.
6.375%, due 02/01/312		50,000		47,523
Covanta Holding Corp.
5.000%, due 09/01/30		100,000		77,351
Madison IAQ LLC
5.875%, due 06/30/292		100,000		77,464
				202,338
Food: 2.4%
Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC
3.250%, due 03/15/262		75,000		69,277
3.500%, due 03/15/292		25,000		21,315
4.625%, due 01/15/272		175,000		164,012
4.875%, due 02/15/302		150,000		133,922
5.875%, due 02/15/282		50,000		47,895
6.500%, due 02/15/282		150,000		147,269
B&G Foods, Inc.
8.000%, due 09/15/282		50,000		48,725
Bellis Acquisition Co. PLC
3.250%, due 02/16/263		200,000		210,499
C&S Group Enterprises LLC
5.000%, due 12/15/282		100,000		77,375
Casino Guichard Perrachon SA
4.498%, due 03/07/243		100,000		1,155
5.250%, due 04/15/273,6		100,000		1,159
Grupo KUO SAB de CV
5.750%, due 07/07/273		200,000		168,076
Ingles Markets, Inc.
4.000%, due 06/15/312		175,000		139,125
JBS USA LUX SA/JBS USA Food Co./JBS USA Finance, Inc.
5.500%, due 01/15/30		100,000		91,387
Lamb Weston Holdings, Inc.
4.125%, due 01/31/302		125,000		106,040
4.375%, due 01/31/322		100,000		82,737
Minerva Luxembourg SA
4.375%, due 03/18/313		650,000		501,312
4.375%, due 03/18/312		250,000		192,813
Nathan's Famous, Inc.
6.625%, due 11/01/252		80,000		79,200
NBM U.S. Holdings, Inc.
7.000%, due 05/14/263		200,000		198,262
Performance Food Group, Inc.
4.250%, due 08/01/292		125,000		105,472
5.500%, due 10/15/272		50,000		46,754

PACE High Yield Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Food—(continued)
Pilgrim's Pride Corp.
6.250%, due 07/01/33		50,000	$	45,950
Post Holdings, Inc.
4.500%, due 09/15/312		50,000		40,457
4.625%, due 04/15/302		350,000		293,086
5.500%, due 12/15/292		75,000		66,886
5.625%, due 01/15/282		25,000		23,234
Premier Foods Finance PLC
3.500%, due 10/15/263		250,000		275,502
Rallye SA
Series COFP,
5.250%, due 02/28/323		800,000		1,058
SEG Holding LLC/SEG Finance Corp.
5.625%, due 10/15/282		250,000		250,433
Sigma Holdco BV
5.750%, due 05/15/263		425,000		370,124
Simmons Foods, Inc./Simmons Prepared Foods, Inc./Simmons Pet Food, Inc./Simmons Feed
4.625%, due 03/01/292		175,000		142,156
U.S. Foods, Inc.
4.750%, due 02/15/292		200,000		176,431
6.875%, due 09/15/282		50,000		48,868
7.250%, due 01/15/322		50,000		49,082
United Natural Foods, Inc.
6.750%, due 10/15/282		50,000		39,344
				4,456,392
Food service: 0.1%
Aramark Services, Inc.
5.000%, due 04/01/252		75,000		73,314
TKC Holdings, Inc.
10.500%, due 05/15/292		100,000		79,975
				153,289
Forest products & paper: 0.1%
Appcion,9
9.000%, due 06/01/252,4,5,10		650,000		6,500
Domtar Corp.
6.750%, due 10/01/282		83,000		67,542
Glatfelter Corp.
4.750%, due 11/15/292		75,000		49,277
Mercer International, Inc.
5.125%, due 02/01/29		50,000		39,207
				162,526
Gas: 0.3%
AmeriGas Partners LP/AmeriGas Finance Corp.
5.500%, due 05/20/25		50,000		47,926
5.750%, due 05/20/27		150,000		137,856
EP Infrastructure AS
1.816%, due 03/02/313		375,000		284,199
2.045%, due 10/09/283		150,000		127,924
				597,905
Hand & machine tools: 0.2%
Regal Rexnord Corp.
6.050%, due 02/15/262		50,000		49,180
6.050%, due 04/15/282		50,000		47,830
6.300%, due 02/15/302		50,000		47,049
6.400%, due 04/15/332		50,000		45,870

PACE High Yield Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Hand & machine tools—(continued)
Werner FinCo LP/Werner FinCo, Inc.
11.500%, due 06/15/282		25,000	$	25,243
8.750% Cash and 5.750% PIK,
14.500%, due 10/15/282,7		127,156		103,632
				318,804
Healthcare-products: 0.6%
Avantor Funding, Inc.
3.875%, due 11/01/292		150,000		125,540
4.625%, due 07/15/282		250,000		222,527
Bausch & Lomb Escrow Corp.
8.375%, due 10/01/282		175,000		173,819
Marcolin SpA
6.125%, due 11/15/263		100,000		99,065
Medline Borrower LP
3.875%, due 04/01/292		257,000		217,002
5.250%, due 10/01/292		400,000		340,489
				1,178,442
Healthcare-services: 2.6%
Acadia Healthcare Co., Inc.
5.000%, due 04/15/292		100,000		89,161
5.500%, due 07/01/282		125,000		115,399
AHP Health Partners, Inc.
5.750%, due 07/15/292		100,000		82,000
Air Methods Corp.
8.000%, due 05/15/252,10		175,000		438
Catalent Pharma Solutions, Inc.
2.375%, due 03/01/283		125,000		108,422
3.125%, due 02/15/292		50,000		39,313
Centene Corp.
3.000%, due 10/15/30		325,000		257,196
Charles River Laboratories International, Inc.
4.000%, due 03/15/312		82,000		66,928
CHS/Community Health Systems, Inc.
4.750%, due 02/15/312		250,000		167,561
5.250%, due 05/15/302		125,000		88,769
5.625%, due 03/15/272		175,000		142,176
6.000%, due 01/15/292		75,000		56,812
6.125%, due 04/01/302		150,000		58,125
6.875%, due 04/01/282		23,000		9,948
6.875%, due 04/15/292		225,000		92,905
8.000%, due 03/15/262		250,000		228,514
8.000%, due 12/15/272		250,000		212,042
DaVita, Inc.
4.625%, due 06/01/302		150,000		117,557
Encompass Health Corp.
4.750%, due 02/01/30		125,000		108,022
Fortrea Holdings, Inc.
7.500%, due 07/01/302		150,000		144,750
IQVIA, Inc.
2.250%, due 03/15/293		200,000		177,457
6.500%, due 05/15/302		200,000		194,000
LifePoint Health, Inc.
5.375%, due 01/15/292		100,000		60,585
11.000%, due 10/15/302		75,000		70,581
ModivCare Escrow Issuer, Inc.
5.000%, due 10/01/292		75,000		54,659

PACE High Yield Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Healthcare-services—(continued)
Molina Healthcare, Inc.
3.875%, due 11/15/302		100,000	$	81,562
3.875%, due 05/15/322		150,000		117,864
4.375%, due 06/15/282		150,000		133,502
Prime Healthcare Services, Inc.
7.250%, due 11/01/252		150,000		136,500
Rede D'or Finance SARL
4.500%, due 01/22/303		364,000		295,532
RP Escrow Issuer LLC
5.250%, due 12/15/252		100,000		71,250
Select Medical Corp.
6.250%, due 08/15/262		125,000		121,577
Tenet Healthcare Corp.
4.250%, due 06/01/29		50,000		42,789
4.375%, due 01/15/30		75,000		63,443
4.875%, due 01/01/26		125,000		119,800
5.125%, due 11/01/27		175,000		161,546
6.125%, due 10/01/28		250,000		231,875
6.125%, due 06/15/30		275,000		254,518
6.750%, due 05/15/312		250,000		237,408
				4,812,486
Holding companies-divers: 0.3%
Benteler International AG
9.375%, due 05/15/282		125,000		133,254
KOC Holding AS
6.500%, due 03/11/253		400,000		395,000
				528,254
Home builders: 1.2%
Adams Homes, Inc.
7.500%, due 02/15/252		49,000		47,958
9.250%, due 10/15/282		100,000		96,648
Ashton Woods USA LLC/Ashton Woods Finance Co.
4.625%, due 08/01/292		75,000		60,689
4.625%, due 04/01/302		150,000		116,146
6.625%, due 01/15/282		100,000		91,500
Beazer Homes USA, Inc.
5.875%, due 10/15/27		50,000		44,625
7.250%, due 10/15/29		100,000		91,230
Brookfield Residential Properties, Inc./Brookfield Residential U.S. LLC
4.875%, due 02/15/302		25,000		19,011
5.000%, due 06/15/292		125,000		97,561
Century Communities, Inc.
3.875%, due 08/15/292		75,000		60,522
Dream Finders Homes, Inc.
8.250%, due 08/15/282		100,000		98,934
Empire Communities Corp.
7.000%, due 12/15/252		125,000		116,176
Forestar Group, Inc.
3.850%, due 05/15/262		100,000		89,008
5.000%, due 03/01/282		125,000		109,699
Installed Building Products, Inc.
5.750%, due 02/01/282		150,000		135,328

PACE High Yield Investments
Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Home builders—(continued)
KB Home
4.000%, due 06/15/31		125,000	$	97,601
6.875%, due 06/15/27		50,000		49,618
7.250%, due 07/15/30		75,000		72,000
LGI Homes, Inc.
4.000%, due 07/15/292		25,000		19,130
Mattamy Group Corp.
4.625%, due 03/01/302		125,000		101,719
Meritage Homes Corp.
6.000%, due 06/01/25		119,000		116,677
Shea Homes LP/Shea Homes Funding Corp.
4.750%, due 02/15/28		100,000		87,888
4.750%, due 04/01/29		125,000		105,521
STL Holding Co. LLC
7.500%, due 02/15/262		125,000		116,875
Thor Industries, Inc.
4.000%, due 10/15/292		75,000		60,454
Tri Pointe Homes, Inc.
5.700%, due 06/15/28		75,000		66,776
Winnebago Industries, Inc.
6.250%, due 07/15/282		100,000		94,033
				2,263,327
Home furnishings: 0.1%
Tempur Sealy International, Inc.
4.000%, due 04/15/292		125,000		102,549
Household products: 0.1%
Edgewell Personal Care Co.
4.125%, due 04/01/292		175,000		146,344
5.500%, due 06/01/282		75,000		68,450
				214,794
Household products/wares: 0.3%
Central Garden & Pet Co.
4.125%, due 04/30/312		100,000		79,552
Kronos Acquisition Holdings, Inc./KIK Custom Products, Inc.
7.000%, due 12/31/272		75,000		63,768
Spectrum Brands, Inc.
4.000%, due 10/01/262		325,000		329,164
5.500%, due 07/15/302		50,000		44,625
				517,109
Housewares: 0.4%
Newell Brands, Inc.
5.200%, due 04/01/26		250,000		236,038
6.375%, due 09/15/27		75,000		70,239
6.375%, due 04/01/36		225,000		176,474
6.500%, due 04/01/46		50,000		35,112
6.625%, due 09/15/29		50,000		45,998
Scotts Miracle-Gro Co.
4.000%, due 04/01/31		125,000		92,988
4.375%, due 02/01/32		50,000		36,645
				693,494
Insurance: 0.7%
Acrisure LLC/Acrisure Finance, Inc.
7.000%, due 11/15/252		375,000		363,575
10.125%, due 08/01/262		25,000		25,159
AssuredPartners, Inc.
5.625%, due 01/15/292		25,000		21,208
7.000%, due 08/15/252		50,000		49,045

PACE High Yield Investments
Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Insurance—(continued)
HUB International Ltd.
5.625%, due 12/01/292		25,000	$	21,531
7.000%, due 05/01/262		25,000		24,335
7.250%, due 06/15/302		75,000		73,160
MGIC Investment Corp.
5.250%, due 08/15/28		150,000		137,876
NMI Holdings, Inc.
7.375%, due 06/01/252		135,000		135,140
Sagicor Financial Co. Ltd.
5.300%, due 05/13/282		400,000		372,360
Tongyang Life Insurance Co. Ltd.
(fixed, converts to FRN on 09/22/25),
5.250%, due 09/22/253,6,8		200,000		170,034
				1,393,423
Internet: 1.3%
Cogent Communications Group, Inc.
7.000%, due 06/15/272		125,000		118,125
Gen Digital, Inc.
6.750%, due 09/30/272		125,000		121,674
7.125%, due 09/30/302		150,000		145,928
Go Daddy Operating Co. LLC/GD Finance Co., Inc.
3.500%, due 03/01/292		50,000		41,973
5.250%, due 12/01/272		200,000		187,426
iliad SA
2.375%, due 06/17/263		400,000		392,026
Match Group Holdings II LLC
4.125%, due 08/01/302		100,000		81,253
5.000%, due 12/15/272		75,000		69,175
MercadoLibre, Inc.
3.125%, due 01/14/31		300,000		226,650
Millennium Escrow Corp.
6.625%, due 08/01/262		100,000		74,238
Northwest Fiber LLC/Northwest Fiber Finance Sub, Inc.
4.750%, due 04/30/272		50,000		44,625
Uber Technologies, Inc.
6.250%, due 01/15/282		125,000		120,312
7.500%, due 05/15/252		25,000		25,031
7.500%, due 09/15/272		250,000		250,628
8.000%, due 11/01/262		150,000		151,058
United Group BV
3.125%, due 02/15/263		100,000		96,023
4.625%, due 08/15/283		150,000		132,725
Ziff Davis, Inc.
4.625%, due 10/15/302		69,000		57,768
				2,336,638
Investment companies: 0.6%
Compass Group Diversified Holdings LLC
5.000%, due 01/15/322		75,000		58,976
5.250%, due 04/15/292		125,000		106,743
Icahn Enterprises LP/Icahn Enterprises Finance Corp.
4.375%, due 02/01/29		50,000		38,501
4.750%, due 09/15/24		25,000		23,977
5.250%, due 05/15/27		200,000		171,250
6.250%, due 05/15/26		225,000		205,666
6.375%, due 12/15/25		75,000		70,556

PACE High Yield Investments
Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Investment companies—(continued)
Linx Capital Ltd.
15.200%, due 04/01/252,7		397,031	$	369,687
				1,045,356
Iron & steel: 1.2%
ATI, Inc.
4.875%, due 10/01/29		75,000		63,871
5.125%, due 10/01/31		100,000		82,500
5.875%, due 12/01/27		150,000		139,165
7.250%, due 08/15/30		50,000		48,134
Baffinland Iron Mines Corp./Baffinland Iron Mines LP
8.750%, due 07/15/262		175,000		168,215
Big River Steel LLC/BRS Finance Corp.
6.625%, due 01/31/292		140,000		138,289
Carpenter Technology Corp.
6.375%, due 07/15/28		200,000		190,238
Cleveland-Cliffs, Inc.
4.875%, due 03/01/312		50,000		41,241
5.875%, due 06/01/27		225,000		214,375
6.750%, due 03/15/262		50,000		49,714
6.750%, due 04/15/302		100,000		92,719
Commercial Metals Co.
4.125%, due 01/15/30		50,000		42,198
4.375%, due 03/15/32		50,000		40,210
CSN Inova Ventures
6.750%, due 01/28/283		250,000		228,675
JSW Steel Ltd.
5.050%, due 04/05/322		200,000		154,380
Mineral Resources Ltd.
8.000%, due 11/01/272		300,000		289,887
8.125%, due 05/01/272		148,000		143,982
8.500%, due 05/01/302		75,000		71,806
9.250%, due 10/01/282		75,000		75,000
TMS International Corp.
6.250%, due 04/15/292		25,000		19,724
				2,294,323
IT services: 0.1%
Carnelian Holdings LP
50.000%, due 06/30/284		15,606		156,065
Leisure time: 3.9%
Acushnet Co.
7.375%, due 10/15/282		50,000		50,091
Carnival Corp.
5.750%, due 03/01/272		1,550,000		1,383,936
6.000%, due 05/01/292		500,000		422,398
6.650%, due 01/15/28		100,000		84,190
7.000%, due 08/15/292		50,000		49,027
7.625%, due 03/01/262		550,000		534,816
7.625%, due 03/01/263		150,000		155,579
9.875%, due 08/01/272		25,000		26,058
10.500%, due 06/01/302		175,000		177,559
Carnival PLC
1.000%, due 10/28/29		725,000		467,945
Codere New Holdco SA
3.000%, due 11/30/273,4,7		125,662		9,640

PACE High Yield Investments
Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Leisure time—(continued)
Deuce Finco PLC
5.500%, due 06/15/272		125,000	$	131,420
5.500%, due 06/15/273		250,000		262,841
Life Time, Inc.
5.750%, due 01/15/262		275,000		266,307
8.000%, due 04/15/262		575,000		560,625
Lindblad Expeditions LLC
6.750%, due 02/15/272		50,000		45,567
MajorDrive Holdings IV LLC
6.375%, due 06/01/292		175,000		135,625
NCL Corp. Ltd.
5.875%, due 03/15/262		425,000		381,437
5.875%, due 02/15/272		50,000		46,023
7.750%, due 02/15/292		50,000		43,639
8.125%, due 01/15/292		25,000		24,425
NCL Finance Ltd.
6.125%, due 03/15/282		100,000		83,624
Royal Caribbean Cruises Ltd.
3.700%, due 03/15/28		150,000		127,841
4.250%, due 07/01/262		75,000		68,970
5.375%, due 07/15/272		575,000		529,906
5.500%, due 08/31/262		75,000		70,776
5.500%, due 04/01/282		250,000		227,963
7.250%, due 01/15/302		75,000		73,986
7.500%, due 10/15/27		100,000		98,496
11.625%, due 08/15/272		50,000		54,228
Viking Cruises Ltd.
5.875%, due 09/15/272		350,000		315,315
6.250%, due 05/15/252		75,000		72,962
7.000%, due 02/15/292		100,000		90,500
Viking Ocean Cruises Ship VII Ltd.
5.625%, due 02/15/292		75,000		66,469
VOC Escrow Ltd.
5.000%, due 02/15/282		150,000		134,763
				7,274,947
Lodging: 2.1%
Boyd Gaming Corp.
4.750%, due 12/01/27		25,000		22,750
4.750%, due 06/15/312		200,000		165,980
Fortune Star BVI Ltd.
3.950%, due 10/02/263		200,000		127,838
6.850%, due 07/02/243		200,000		180,136
Full House Resorts, Inc.
8.250%, due 02/15/282		175,000		147,355
Grupo Posadas SAB de CV
5.000%, due 12/30/273,6		150,000		125,795
Hilton Domestic Operating Co., Inc.
3.625%, due 02/15/322		125,000		98,809
3.750%, due 05/01/292		75,000		64,560
4.000%, due 05/01/312		350,000		289,858
4.875%, due 01/15/30		150,000		134,659
5.375%, due 05/01/252		200,000		196,610
5.750%, due 05/01/282		125,000		119,761

PACE High Yield Investments
Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Lodging—(continued)
Hilton Grand Vacations Borrower Escrow LLC/Hilton Grand Vacations Borrower Escrow, Inc.
4.875%, due 07/01/312		200,000	$	158,377
5.000%, due 06/01/292		275,000		230,312
MGM China Holdings Ltd.
5.250%, due 06/18/253		200,000		190,320
MGM Resorts International
4.750%, due 10/15/28		100,000		87,258
5.500%, due 04/15/27		75,000		69,971
6.750%, due 05/01/25		25,000		24,865
Sands China Ltd.
5.650%, due 08/08/28		200,000		184,450
Station Casinos LLC
4.500%, due 02/15/282		25,000		21,591
4.625%, due 12/01/312		50,000		39,478
Studio City Finance Ltd.
6.500%, due 01/15/283		200,000		163,322
Travel & Leisure Co.
4.625%, due 03/01/302		75,000		61,398
6.625%, due 07/31/262		100,000		97,574
TVL Finance PLC
3 mo. EUR EURIBOR + 5.500%,
9.452%, due 04/28/282,6		100,000		105,390
10.250%, due 04/28/282		275,000		330,207
Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp.
5.250%, due 05/15/272		250,000		230,942
Wynn Macau Ltd.
5.500%, due 10/01/273		200,000		173,958
				3,843,524
Machinery-construction & mining: 0.1%
BWX Technologies, Inc.
4.125%, due 04/15/292		75,000		64,125
Terex Corp.
5.000%, due 05/15/292		150,000		131,302
				195,427
Machinery-diversified: 0.8%
Chart Industries, Inc.
7.500%, due 01/01/302		150,000		147,298
9.500%, due 01/01/312		125,000		128,746
Galapagos SA
5.375% 06/15/2021,
5.375%, due 06/15/213,10		27,500		146
GrafTech Global Enterprises, Inc.
9.875%, due 12/15/282		50,000		44,774
Husky III Holding Ltd.
13.000% Cash or 13.750% PIK,
13.000%, due 02/15/252,7		100,000		96,250
JPW Industries Holding Corp.
9.000%, due 10/01/242		25,000		24,500
OT Merger Corp.
7.875%, due 10/15/292		50,000		29,750

PACE High Yield Investments
Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Machinery-diversified—(continued)
Selecta Group BV
3.500% Cash and 4.500% PIK,
8.000%, due 04/01/263		18,946	$	18,844
3.500% Cash or 4.500% PIK,
8.000%, due 04/01/262		207,887		206,767
10.000%, due 07/01/262,7		84,686		69,850
9.250% Cash or 10.000% PIK,
10.000%, due 07/01/263,7		295,369		243,623
Titan Acquisition Ltd./Titan Co.-Borrower LLC
7.750%, due 04/15/262		225,000		209,275
TK Elevator Midco GmbH
4.375%, due 07/15/273		300,000		287,274
				1,507,097
Media: 5.4%
Altice Financing SA
3.000%, due 01/15/283		400,000		343,184
4.250%, due 08/15/293		275,000		229,654
5.000%, due 01/15/282		200,000		162,653
AMC Networks, Inc.
4.250%, due 02/15/29		200,000		122,878
4.750%, due 08/01/25		25,000		22,770
Audacy Capital Corp.
6.750%, due 03/31/292		75,000		938
CCO Holdings LLC/CCO Holdings Capital Corp.
4.250%, due 02/01/312		300,000		233,459
4.250%, due 01/15/342		400,000		288,921
4.500%, due 05/01/32		225,000		172,237
4.500%, due 06/01/332		550,000		410,281
4.750%, due 03/01/302		250,000		206,231
4.750%, due 02/01/322		675,000		526,878
5.000%, due 02/01/282		200,000		179,587
5.375%, due 06/01/292		50,000		43,764
6.375%, due 09/01/292		250,000		228,800
7.375%, due 03/01/312		150,000		141,753
CSC Holdings LLC
4.500%, due 11/15/312		400,000		264,182
4.625%, due 12/01/302		350,000		177,493
5.000%, due 11/15/312		200,000		102,268
5.250%, due 06/01/24		150,000		140,253
Diamond Sports Group LLC/Diamond Sports Finance Co.
5.375%, due 08/15/262,10		250,000		2,575
Directv Financing LLC/Directv Financing Co.-Obligor, Inc.
5.875%, due 08/15/272		400,000		350,494

PACE High Yield Investments
Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Media—(continued)
DISH DBS Corp.
5.125%, due 06/01/29		225,000	$	115,875
5.250%, due 12/01/262		175,000		141,164
5.750%, due 12/01/282		125,000		90,781
5.875%, due 11/15/24		75,000		68,814
7.375%, due 07/01/28		175,000		98,829
7.750%, due 07/01/26		125,000		83,759
DISH Network Corp.
11.750%, due 11/15/272		400,000		396,224
GCI LLC
4.750%, due 10/15/282		150,000		128,715
Gray Escrow II, Inc.
5.375%, due 11/15/312		125,000		78,781
Gray Television, Inc.
4.750%, due 10/15/302		300,000		192,341
iHeartCommunications, Inc.
4.750%, due 01/15/282		50,000		35,349
5.250%, due 08/15/272		150,000		109,941
6.375%, due 05/01/26		55,291		45,068
8.375%, due 05/01/27		75,000		45,976
McGraw-Hill Education, Inc.
8.000%, due 08/01/292		125,000		102,995
Midcontinent Communications/Midcontinent Finance Corp.
5.375%, due 08/15/272		125,000		113,438
News Corp.
3.875%, due 05/15/292		225,000		192,596
5.125%, due 02/15/322		200,000		172,710
Nexstar Media, Inc.
4.750%, due 11/01/282		50,000		41,994
5.625%, due 07/15/272		75,000		67,497
Scripps Escrow II, Inc.
5.375%, due 01/15/312		50,000		31,046
Scripps Escrow, Inc.
5.875%, due 07/15/272		75,000		56,063
Sinclair Television Group, Inc.
4.125%, due 12/01/302		100,000		63,189
5.125%, due 02/15/272		100,000		78,500
Sirius XM Radio, Inc.
3.125%, due 09/01/262		200,000		179,354
3.875%, due 09/01/312		350,000		263,616
4.000%, due 07/15/282		225,000		191,347
5.000%, due 08/01/272		75,000		68,768
5.500%, due 07/01/292		175,000		155,063
Summer BidCo BV
9.000% Cash or 9.750% PIK,
9.000%, due 11/15/252,7		177,664		182,722
TEGNA, Inc.
4.625%, due 03/15/28		150,000		129,375
5.000%, due 09/15/29		25,000		20,938
Univision Communications, Inc.
4.500%, due 05/01/292		475,000		377,584
5.125%, due 02/15/252		36,000		35,153
6.625%, due 06/01/272		100,000		91,340
7.375%, due 06/30/302		150,000		132,076
8.000%, due 08/15/282		25,000		23,608

PACE High Yield Investments
Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Media—(continued)
UPC Broadband Finco BV
4.875%, due 07/15/312		400,000	$	319,368
Videotron Ltd.
3.625%, due 06/15/292		100,000		84,280
Virgin Media Finance PLC
5.000%, due 07/15/302		200,000		157,237
Virgin Media Secured Finance PLC
4.125%, due 08/15/303		200,000		192,800
Virgin Media Vendor Financing Notes III DAC
4.875%, due 07/15/283		100,000		101,624
VZ Vendor Financing II BV
2.875%, due 01/15/292		300,000		241,926
Ziggo Bond Co. BV
6.000%, due 01/15/272		200,000		183,234
				10,034,311
Metal fabricate/hardware: 0.2%
Advanced Drainage Systems, Inc.
5.000%, due 09/30/272		75,000		69,938
Park-Ohio Industries, Inc.
6.625%, due 04/15/27		175,000		151,812
Roller Bearing Co. of America, Inc.
4.375%, due 10/15/292		75,000		63,601
				285,351
Mining: 1.7%
Alcoa Nederland Holding BV
4.125%, due 03/31/292		200,000		174,186
Arsenal AIC Parent LLC
8.000%, due 10/01/302		150,000		148,125
China Hongqiao Group Ltd.
6.250%, due 06/08/243		200,000		195,720
Coeur Mining, Inc.
5.125%, due 02/15/292		100,000		83,250
Compass Minerals International, Inc.
6.750%, due 12/01/272		25,000		23,549
Constellium SE
3.125%, due 07/15/292		275,000		239,731
Eramet SA
7.000%, due 05/22/283		100,000		99,976
First Quantum Minerals Ltd.
6.875%, due 10/15/272		200,000		168,500
7.500%, due 04/01/253		296,000		276,049
8.625%, due 06/01/312		400,000		337,000
FMG Resources August 2006 Pty. Ltd.
4.375%, due 04/01/312		275,000		221,628
5.875%, due 04/15/302		150,000		134,610
6.125%, due 04/15/322		125,000		110,329
IAMGOLD Corp.
5.750%, due 10/15/282		100,000		77,625
Kaiser Aluminum Corp.
4.625%, due 03/01/282		125,000		104,158
Novelis Corp.
3.250%, due 11/15/262		100,000		89,014
3.875%, due 08/15/312		50,000		39,050
4.750%, due 01/30/302		50,000		42,424

PACE High Yield Investments
Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Mining—(continued)
Novelis Sheet Ingot GmbH
3.375%, due 04/15/293		100,000	$	90,038
Taseko Mines Ltd.
7.000%, due 02/15/262		100,000		90,710
Vedanta Resources Finance II PLC
13.875%, due 01/21/242		200,000		178,070
WE Soda Investments Holding PLC
9.500%, due 10/06/282		200,000		199,650
				3,123,392
Miscellaneous manufacturers: 0.2%
FXI Holdings, Inc.
12.250%, due 11/15/262		234,000		193,706
12.250%, due 11/15/262		94,000		78,020
LSB Industries, Inc.
6.250%, due 10/15/282		25,000		22,178
Trinity Industries, Inc.
7.750%, due 07/15/282		125,000		123,438
				417,342
Office & business equipment: 0.1%
CDW LLC/CDW Finance Corp.
3.250%, due 02/15/29		75,000		63,320
4.125%, due 05/01/25		25,000		24,121
Xerox Holdings Corp.
5.000%, due 08/15/252		150,000		137,991
				225,432
Oil & gas: 8.7%
Aethon United BR LP/Aethon United Finance Corp.
8.250%, due 02/15/262		100,000		99,334
Antero Resources Corp.
7.625%, due 02/01/292		49,000		49,612
Apache Corp.
7.375%, due 08/15/47		100,000		90,310
Ascent Resources Utica Holdings LLC/ARU Finance Corp.
8.250%, due 12/31/282		25,000		24,824
9.000%, due 11/01/272		150,000		189,375
Athabasca Oil Corp.
9.750%, due 11/01/262		108,000		111,311
Baytex Energy Corp.
8.500%, due 04/30/302		150,000		148,567
Callon Petroleum Co.
6.375%, due 07/01/26		25,000		24,415
7.500%, due 06/15/302		75,000		72,642
Chesapeake Energy Corp.
5.500%, due 02/01/262		50,000		48,539
6.750%, due 04/15/292		175,000		171,230
Chord Energy Corp.
6.375%, due 06/01/262		75,000		73,630
CITGO Petroleum Corp.
7.000%, due 06/15/252		150,000		147,394
Civitas Resources, Inc.
5.000%, due 10/15/262		175,000		163,742
8.375%, due 07/01/282		50,000		50,308
8.625%, due 11/01/302		50,000		50,891
8.750%, due 07/01/312		25,000		25,232
CNX Resources Corp.
6.000%, due 01/15/292		125,000		114,620
7.250%, due 03/14/272		125,000		123,015
7.375%, due 01/15/312		25,000		23,887

PACE High Yield Investments
Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Oil & gas—(continued)
Comstock Resources, Inc.
5.875%, due 01/15/302		125,000	$	106,876
6.750%, due 03/01/292		125,000		113,753
Crescent Energy Finance LLC
9.250%, due 02/15/282		50,000		50,358
CrownRock LP/CrownRock Finance, Inc.
5.000%, due 05/01/292		25,000		23,580
Diamond Foreign Asset Co./Diamond Finance LLC
8.500%, due 10/01/302		25,000		24,368
Ecopetrol SA
5.875%, due 05/28/45		300,000		194,160
8.625%, due 01/19/29		200,000		199,100
8.875%, due 01/13/33		200,000		191,200
Energian Israel Finance Ltd.
4.875%, due 03/30/263		300,000		263,073
5.875%, due 03/30/313		75,000		59,531
Geopark Ltd.
5.500%, due 01/17/272		500,000		418,625
Global Marine, Inc.
7.000%, due 06/01/28		125,000		104,687
Gulfport Energy Corp.
2.000%, due 10/15/2410		50,000		31
3.000%, due 05/15/2510		100,000		62
3.000%, due 01/15/2610		175,000		109
8.000%, due 05/17/262		170,052		169,760
Hilcorp Energy I LP/Hilcorp Finance Co.
6.000%, due 04/15/302		100,000		88,778
6.000%, due 02/01/312		175,000		153,295
6.250%, due 11/01/282		75,000		70,121
Ithaca Energy North Sea PLC
9.000%, due 07/15/262		200,000		192,006
KazMunayGas National Co. JSC
3.500%, due 04/14/332		200,000		145,500
4.750%, due 04/19/273		250,000		233,000
Leviathan Bond Ltd.
6.125%, due 06/30/253		75,000		68,906
Magnolia Oil & Gas Operating LLC/Magnolia Oil & Gas Finance Corp.
6.000%, due 08/01/262		175,000		168,000
Matador Resources Co.
5.875%, due 09/15/26		100,000		96,359
6.875%, due 04/15/282		75,000		73,498
MC Brazil Downstream Trading SARL
7.250%, due 06/30/313		193,250		137,498
Medco Laurel Tree Pte. Ltd.
6.950%, due 11/12/282		400,000		370,480
Moss Creek Resources Holdings, Inc.
7.500%, due 01/15/262		150,000		143,281
10.500%, due 05/15/272		75,000		74,152
Murphy Oil Corp.
6.375%, due 07/15/28		200,000		193,693

PACE High Yield Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Oil & gas—(continued)
Nabors Industries Ltd.
7.250%, due 01/15/262		50,000	$	46,974
7.500%, due 01/15/282		100,000		88,320
Nabors Industries, Inc.
5.750%, due 02/01/25		225,000		218,250
Noble Finance II LLC
8.000%, due 04/15/302		50,000		49,969
Northern Oil & Gas, Inc.
8.125%, due 03/01/282		275,000		271,571
8.750%, due 06/15/312		125,000		124,369
Parkland Corp.
4.500%, due 10/01/292		250,000		215,025
4.625%, due 05/01/302		100,000		85,250
5.875%, due 07/15/272		150,000		143,618
PBF Holding Co. LLC/PBF Finance Corp.
6.000%, due 02/15/28		275,000		252,808
7.875%, due 09/15/302		125,000		120,626
Permian Resources Operating LLC
5.375%, due 01/15/262		150,000		144,012
5.875%, due 07/01/292		150,000		139,610
7.000%, due 01/15/322		200,000		193,879
Petrobras Global Finance BV
5.093%, due 01/15/30		250,000		229,377
5.299%, due 01/27/25		150,000		147,388
6.850%, due 06/05/15		200,000		167,970
6.900%, due 03/19/49		325,000		292,477
Petroleos Mexicanos
2.750%, due 04/21/273		475,000		388,995
3.750%, due 04/16/263		100,000		91,439
4.750%, due 02/26/293		275,000		219,569
5.950%, due 01/28/31		300,000		212,400
6.500%, due 03/13/27		250,000		219,579
6.500%, due 06/02/41		1,250,000		731,687
6.625%, due 06/15/35		477,000		313,627
6.700%, due 02/16/32		700,000		511,000
6.750%, due 09/21/47		479,000		271,114
6.875%, due 10/16/25		700,000		671,300
6.950%, due 01/28/60		250,000		141,562
7.690%, due 01/23/50		950,000		586,625
10.000%, due 02/07/33		100,000		88,425
Precision Drilling Corp.
6.875%, due 01/15/292		100,000		92,590
7.125%, due 01/15/262		100,000		98,527
Range Resources Corp.
8.250%, due 01/15/29		150,000		153,186
Rockcliff Energy II LLC
5.500%, due 10/15/292		25,000		22,565
Sanchez Energy Corp.
6.125%, due 01/15/23		325,000		21,938
7.750%, due 06/15/2110		475,000		32,063
Shelf Drilling North Sea Holdings Ltd.
10.250%, due 10/31/252		49,000		49,000

PACE High Yield Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Oil & gas—(continued)
SM Energy Co.
5.625%, due 06/01/25		50,000	$	48,670
6.750%, due 09/15/26		100,000		98,221
Southwestern Energy Co.
4.750%, due 02/01/32		75,000		64,499
5.375%, due 02/01/29		50,000		46,189
5.375%, due 03/15/30		25,000		22,931
5.700%, due 01/23/25		34,000		33,591
8.375%, due 09/15/28		50,000		51,627
Sunoco LP/Sunoco Finance Corp.
4.500%, due 04/30/30		100,000		85,412
6.000%, due 04/15/27		150,000		144,434
7.000%, due 09/15/282		75,000		72,991
Talos Production, Inc.
12.000%, due 01/15/26		75,000		77,926
Teine Energy Ltd.
6.875%, due 04/15/292		125,000		115,781
Transocean Aquila Ltd.
8.000%, due 09/30/282		50,000		49,268
Transocean Titan Financing Ltd.
8.375%, due 02/01/282		50,000		50,203
Transocean, Inc.
6.800%, due 03/15/38		125,000		89,225
7.250%, due 11/01/252		100,000		97,577
7.500%, due 01/15/262		50,000		47,893
7.500%, due 04/15/31		100,000		80,800
8.000%, due 02/01/272		75,000		70,398
8.750%, due 02/15/302		23,750		23,680
9.350%, due 12/15/41		125,000		102,250
11.500%, due 01/30/272		118,000		122,794
Tullow Oil PLC
10.250%, due 05/15/263		200,000		171,375
Valaris Ltd.
8.375%, due 04/30/302		25,000		24,531
Vermilion Energy, Inc.
6.875%, due 05/01/302		125,000		116,610
Vital Energy, Inc.
7.750%, due 07/31/292		100,000		90,546
9.750%, due 10/15/30		25,000		24,501
10.125%, due 01/15/28		50,000		50,132
YPF SA
8.500%, due 03/23/253		75,000		68,849
9.000%, due 02/12/263		234,616		226,990
				16,149,296
Oil & gas services: 0.7%
Archrock Partners LP/Archrock Partners Finance Corp.
6.250%, due 04/01/282		175,000		162,531
6.875%, due 04/01/272		75,000		72,102
Bristow Group, Inc.
6.875%, due 03/01/282		125,000		115,781

PACE High Yield Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Oil & gas services—(continued)
Enerflex Ltd.
9.000%, due 10/15/272		100,000	$	91,000
Nine Energy Service, Inc.
13.000%, due 02/01/28		150,000		132,750
Oceaneering International, Inc.
6.000%, due 02/01/282		25,000		22,938
USA Compression Partners LP/USA Compression Finance Corp.
6.875%, due 04/01/26		100,000		97,110
6.875%, due 09/01/27		75,000		71,858
Weatherford International Ltd.
8.625%, due 04/30/302		475,000		479,978
				1,246,048
Packaging & containers: 1.8%
ARD Finance SA
5.000% Cash or 5.750% PIK,
5.000%, due 06/30/273,7		375,000		230,137
6.500% Cash or 7.250% PIK,
6.500%, due 06/30/272,7		400,000		232,872
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC
3.000%, due 09/01/293		175,000		136,102
6.000%, due 06/15/272		200,000		189,004
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc.
5.250%, due 08/15/272		200,000		145,376
Ball Corp.
3.125%, due 09/15/31		125,000		96,766
6.000%, due 06/15/29		150,000		143,825
6.875%, due 03/15/28		125,000		124,630
Berry Global, Inc.
4.500%, due 02/15/262		50,000		47,099
4.875%, due 07/15/262		50,000		47,709
5.625%, due 07/15/272		75,000		71,589
Clydesdale Acquisition Holdings, Inc.
6.625%, due 04/15/292		25,000		22,710
Crown Americas LLC
5.250%, due 04/01/30		25,000		22,594
Crown Americas LLC/Crown Americas Capital Corp. VI
4.750%, due 02/01/26		50,000		48,081
Crown Cork & Seal Co., Inc.
7.375%, due 12/15/26		75,000		76,129
Graphic Packaging International LLC
2.625%, due 02/01/293		125,000		113,096
Guala Closures SpA
3.250%, due 06/15/283		250,000		227,464
Intelligent Packaging Holdco Issuer LP
9.000% Cash or 9.7500% PIK,
9.000%, due 01/15/262,7		75,000		62,803
Kleopatra Finco SARL
4.250%, due 03/01/263		100,000		87,343

PACE High Yield Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Packaging & containers—(continued)
Kleopatra Holdings 2 SCA
6.500%, due 09/01/263		250,000	$	152,552
LABL, Inc.
10.500%, due 07/15/272		50,000		43,285
Mauser Packaging Solutions Holding Co.
9.250%, due 04/15/272		75,000		62,461
OI European Group BV
4.750%, due 02/15/302		225,000		191,455
6.250%, due 05/15/283		125,000		130,627
Owens-Brockway Glass Container, Inc.
6.375%, due 08/15/252		25,000		24,391
6.625%, due 05/13/272		163,000		154,850
7.250%, due 05/15/312		75,000		68,625
Sealed Air Corp.
4.000%, due 12/01/272		181,000		159,105
5.000%, due 04/15/292		75,000		66,513
Sealed Air Corp./Sealed Air Corp. U.S.
6.125%, due 02/01/282		25,000		23,795
Trident TPI Holdings, Inc.
12.750%, due 12/31/282		25,000		25,547
TriMas Corp.
4.125%, due 04/15/292		150,000		124,580
				3,353,115
Pharmaceuticals: 2.7%
Bausch Health Americas, Inc.
8.500%, due 01/31/272		325,000		145,437
9.250%, due 04/01/262		25,000		21,909
Bausch Health Cos., Inc.
5.000%, due 01/30/282		75,000		27,521
5.250%, due 01/30/302		125,000		43,281
5.250%, due 02/15/312		125,000		43,750
5.500%, due 11/01/252		25,000		21,562
5.750%, due 08/15/272		50,000		26,000
6.125%, due 02/01/272		100,000		55,784
7.000%, due 01/15/282		75,000		30,753
7.250%, due 05/30/292		125,000		46,875
9.000%, due 12/15/252		175,000		151,795
BellRing Brands, Inc.
7.000%, due 03/15/302		175,000		169,969
Endo Dac/Endo Finance LLC/Endo Finco, Inc.
0.000%, due 07/31/272,10		215,000		15,446
0.000%, due 06/30/282,10		129,000		9,675
Endo Luxembourg Finance Co. I SARL/Endo U.S., Inc.
0.000%, due 04/01/292,10		125,000		82,500
Grifols SA
1.625%, due 02/15/253		200,000		202,944
3.200%, due 05/01/253		100,000		101,313
Gruenenthal GmbH
3.625%, due 11/15/263		100,000		100,255
6.750%, due 05/15/302		100,000		106,974
6.750%, due 05/15/303		100,000		106,974
Health & Happiness H&H International Holdings Ltd.
13.500%, due 06/26/263		200,000		189,646

PACE High Yield Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Pharmaceuticals—(continued)
Herbalife Nutrition Ltd./HLF Financing, Inc.
7.875%, due 09/01/252		200,000	$	188,213
HLF Financing SARL LLC/Herbalife International, Inc.
4.875%, due 06/01/292		25,000		17,063
Mallinckrodt International Finance SA/Mallinckrodt CB LLC
10.000%, due 04/15/252,10		50,000		38,250
10.000%, due 06/15/292,10		61,141		3,934
Nidda Healthcare Holding GmbH
7.500%, due 08/21/263		250,000		265,163
Organon & Co./Organon Foreign Debt Co.-Issuer BV
2.875%, due 04/30/282		105,000		95,902
4.125%, due 04/30/282		200,000		172,752
5.125%, due 04/30/312		200,000		156,183
Owens & Minor, Inc.
4.500%, due 03/31/292		125,000		100,293
6.625%, due 04/01/302		100,000		87,385
P&L Development LLC/PLD Finance Corp.
7.750%, due 11/15/252		125,000		83,962
Par Pharmaceutical, Inc.
0.000%, due 04/01/272,10		198,000		134,266
Prestige Brands, Inc.
3.750%, due 04/01/312		25,000		19,856
5.125%, due 01/15/282		100,000		92,197
Teva Pharmaceutical Finance Netherlands II BV
4.375%, due 05/09/30		125,000		112,348
4.500%, due 03/01/25		450,000		464,808
7.375%, due 09/15/29		250,000		266,826
Teva Pharmaceutical Finance Netherlands III BV
3.150%, due 10/01/26		200,000		174,618
4.100%, due 10/01/46		200,000		118,324
4.750%, due 05/09/27		200,000		180,000
6.000%, due 04/15/24		485,000		481,484
				4,954,190
Pipelines: 3.7%
Antero Midstream Partners LP/Antero Midstream Finance Corp.
5.375%, due 06/15/292		25,000		22,701
5.750%, due 03/01/272		150,000		143,366
7.875%, due 05/15/262		125,000		125,882
Blue Racer Midstream LLC/Blue Racer Finance Corp.
7.625%, due 12/15/252		125,000		125,178
CQP Holdco LP/BIP-V Chinook Holdco LLC
5.500%, due 06/15/312		250,000		217,438
Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp.
6.000%, due 02/01/292		100,000		96,750
7.375%, due 02/01/312		75,000		75,601

PACE High Yield Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Pipelines—(continued)
Delek Logistics Partners LP/Delek Logistics Finance Corp.
6.750%, due 05/15/25		75,000	$	73,752
7.125%, due 06/01/282		100,000		91,000
DT Midstream, Inc.
4.375%, due 06/15/312		75,000		62,285
EnLink Midstream LLC
5.375%, due 06/01/29		150,000		137,245
5.625%, due 01/15/282		25,000		23,573
6.500%, due 09/01/302		50,000		47,993
EnLink Midstream Partners LP
4.850%, due 07/15/26		125,000		117,502
5.050%, due 04/01/45		75,000		53,767
5.450%, due 06/01/47		125,000		93,964
5.600%, due 04/01/44		150,000		117,938
EQM Midstream Partners LP
4.500%, due 01/15/292		200,000		175,383
4.750%, due 01/15/312		300,000		252,601
5.500%, due 07/15/28		100,000		93,326
6.500%, due 07/01/272		25,000		24,300
6.500%, due 07/15/48		25,000		21,139
7.500%, due 06/01/272		75,000		74,279
7.500%, due 06/01/302		75,000		73,585
Galaxy Pipeline Assets Bidco Ltd.
1.750%, due 09/30/273		129,320		118,530
Genesis Energy LP/Genesis Energy Finance Corp.
6.500%, due 10/01/25		25,000		24,424
7.750%, due 02/01/28		25,000		23,540
8.000%, due 01/15/27		50,000		48,013
8.875%, due 04/15/30		50,000		48,335
Harvest Midstream I LP
7.500%, due 09/01/282		200,000		189,511
Hess Midstream Operations LP
5.125%, due 06/15/282		225,000		207,756
5.500%, due 10/15/302		50,000		45,390
Holly Energy Partners LP/Holly Energy Finance Corp.
5.000%, due 02/01/282		150,000		138,853
6.375%, due 04/15/272		125,000		121,011
Howard Midstream Energy Partners LLC
6.750%, due 01/15/272		100,000		94,510
8.875%, due 07/15/282		100,000		100,533
ITT Holdings LLC
6.500%, due 08/01/292		150,000		125,438
Kinetik Holdings LP
5.875%, due 06/15/302		125,000		114,694
Martin Midstream Partners LP/Martin Midstream Finance Corp.
11.500%, due 02/15/282		125,000		121,879
New Fortress Energy, Inc.
6.500%, due 09/30/262		25,000		22,392

PACE High Yield Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Pipelines—(continued)
NGL Energy Operating LLC/NGL Energy Finance Corp.
7.500%, due 02/01/262		275,000	$	268,450
NuStar Logistics LP
6.375%, due 10/01/30		125,000		115,625
Plains All American Pipeline LP
Series B,
3 mo. USD Term SOFR + 4.372%,
9.736%, due 12/01/236,8		250,000		234,928
Rockies Express Pipeline LLC
3.600%, due 05/15/252		25,000		23,657
4.800%, due 05/15/302		50,000		42,033
4.950%, due 07/15/292		25,000		22,033
6.875%, due 04/15/402		100,000		83,231
7.500%, due 07/15/382		25,000		23,109
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp.
6.000%, due 12/31/302		125,000		105,229
6.000%, due 09/01/312		100,000		84,147
7.500%, due 10/01/252		75,000		73,886
Transportadora de Gas del Sur SA
6.750%, due 05/02/252		600,000		550,275
Venture Global Calcasieu Pass LLC
3.875%, due 11/01/332		225,000		170,021
4.125%, due 08/15/312		25,000		20,100
6.250%, due 01/15/302		100,000		94,336
Venture Global LNG, Inc.
8.125%, due 06/01/282		300,000		291,246
8.375%, due 06/01/312		225,000		214,707
9.500%, due 02/01/292		200,000		203,188
9.875%, due 02/01/322		225,000		228,147
Western Midstream Operating LP
4.500%, due 03/01/28		25,000		23,086
4.750%, due 08/15/28		100,000		93,023
5.300%, due 03/01/48		100,000		74,705
5.450%, due 04/01/44		10,000		7,696
5.500%, due 08/15/48		75,000		56,867
				6,989,082
Real estate: 1.3%
Anywhere Real Estate Group LLC/Anywhere Co.-Issuer Corp.
7.000%, due 04/15/302		94,400		77,703
Canary Wharf Group Investment Holdings PLC
2.625%, due 04/23/253		100,000		106,952
Greystar Real Estate Partners LLC
7.750%, due 09/01/302		75,000		73,688
Howard Hughes Corp.
4.125%, due 02/01/292		125,000		100,313
4.375%, due 02/01/312		25,000		19,030
5.375%, due 08/01/282		250,000		219,778
Kennedy-Wilson, Inc.
4.750%, due 02/01/30		50,000		36,500
New Metro Global Ltd.
4.800%, due 12/15/243		200,000		61,240

PACE High Yield Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Real estate—(continued)
Pakuwon Jati Tbk. PT
4.875%, due 04/29/283		200,000	$	175,846
Peach Property Finance GmbH
4.375%, due 11/15/253		200,000		167,180
PHM Group Holding OYJ
4.750%, due 06/18/263		250,000		234,263
Realogy Group LLC/Realogy Co.-Issuer Corp.
5.750%, due 01/15/292		75,000		47,264
Ronshine China Holdings Ltd.,10
8.100%, due 06/09/233		50,000		1,500
Samhallsbyggnadsbolaget i Norden AB
2.250%, due 08/12/273		125,000		84,554
2.375%, due 09/04/263		100,000		76,015
Signa Development Finance SCS
5.500%, due 07/23/263		300,000		180,300
5.500%, due 07/23/262		200,000		120,200
Theta Capital Pte. Ltd.
8.125%, due 01/22/253		200,000		163,026
Vivion Investments SARL
3.000%, due 08/08/243		100,000		96,816
7.900%, due 02/28/293		270,000		212,397
Yanlord Land HK Co. Ltd.
5.125%, due 05/20/263		400,000		198,832
				2,453,397
Real estate investment trusts: 2.3%
Blackstone Mortgage Trust, Inc.
3.750%, due 01/15/272		225,000		187,095
Diversified Healthcare Trust
9.750%, due 06/15/25		50,000		48,503
HAT Holdings I LLC/HAT Holdings II LLC
3.750%, due 09/15/302		25,000		17,945
6.000%, due 04/15/252		50,000		48,585
Iron Mountain Information Management Services, Inc.
5.000%, due 07/15/322		375,000		306,847
Iron Mountain U.K. PLC
3.875%, due 11/15/252		100,000		114,371
Iron Mountain, Inc.
4.500%, due 02/15/312		225,000		184,046
4.875%, due 09/15/272		125,000		114,266
4.875%, due 09/15/292		75,000		65,330
5.000%, due 07/15/282		50,000		44,744
5.250%, due 07/15/302		200,000		173,615
Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp.
4.250%, due 02/01/272		25,000		21,840
4.750%, due 06/15/292		50,000		40,200

PACE High Yield Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Real estate investment trusts—(continued)
MPT Operating Partnership LP/MPT Finance Corp.
2.500%, due 03/24/26		250,000	$	238,532
3.375%, due 04/24/30		250,000		182,165
3.500%, due 03/15/31		250,000		151,563
4.625%, due 08/01/29		50,000		34,617
5.000%, due 10/15/27		150,000		115,807
5.250%, due 08/01/26		25,000		21,525
Office Properties Income Trust
4.250%, due 05/15/24		25,000		23,395
Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer
4.875%, due 05/15/292		125,000		104,324
5.875%, due 10/01/282		50,000		45,010
7.500%, due 06/01/252		150,000		148,470
RHP Hotel Properties LP/RHP Finance Corp.
4.500%, due 02/15/292		100,000		85,119
7.250%, due 07/15/282		50,000		48,468
RLJ Lodging Trust LP
3.750%, due 07/01/262		200,000		179,991
4.000%, due 09/15/292		200,000		163,000
SBA Communications Corp.
3.875%, due 02/15/27		50,000		45,535
Service Properties Trust
4.350%, due 10/01/24		125,000		119,822
4.375%, due 02/15/30		50,000		34,496
4.750%, due 10/01/26		125,000		106,285
4.950%, due 02/15/27		50,000		41,633
4.950%, due 10/01/29		75,000		54,082
5.250%, due 02/15/26		150,000		134,152
7.500%, due 09/15/25		25,000		24,289
Uniti Group LP/Uniti Group Finance, Inc./CSL Capital LLC
4.750%, due 04/15/282		125,000		101,022
6.500%, due 02/15/292		75,000		48,706
10.500%, due 02/15/282		250,000		240,738
VICI Properties LP/VICI Note Co., Inc.
4.125%, due 08/15/302		125,000		103,119
4.625%, due 12/01/292		200,000		172,992
XHR LP
4.875%, due 06/01/292		75,000		63,455
6.375%, due 08/15/252		125,000		121,250
				4,320,949
Retail: 4.5%
1011778 BC ULC/New Red Finance, Inc.
3.875%, due 01/15/282		25,000		22,320
4.000%, due 10/15/302		500,000		409,511
4.375%, due 01/15/282		50,000		45,019
Abercrombie & Fitch Management Co.
8.750%, due 07/15/252		125,000		126,605
Alsea SAB de CV
7.750%, due 12/14/262		300,000		296,887

PACE High Yield Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Retail—(continued)
Arcos Dorados Holdings, Inc.
5.875%, due 04/04/273		200,000	$	188,640
Arko Corp.
5.125%, due 11/15/292		50,000		40,540
Asbury Automotive Group, Inc.
4.500%, due 03/01/28		15,000		13,291
4.625%, due 11/15/292		50,000		42,295
4.750%, due 03/01/30		25,000		21,215
5.000%, due 02/15/322		25,000		20,277
B&M European Value Retail SA
3.625%, due 07/15/253		150,000		175,253
Bath & Body Works, Inc.
6.625%, due 10/01/302		175,000		162,014
6.750%, due 07/01/36		375,000		323,465
BCPE Ulysses Intermediate, Inc.
7.750% Cash or 8.500% PIK,
7.750%, due 04/01/272,7		100,000		84,820
Beacon Roofing Supply, Inc.
4.125%, due 05/15/292		125,000		104,937
4.500%, due 11/15/262		75,000		69,891
6.500%, due 08/01/302		100,000		95,485
Carrols Restaurant Group, Inc.
5.875%, due 07/01/292		125,000		101,443
CEC Entertainment LLC
6.750%, due 05/01/262		50,000		46,697
Douglas GmbH
6.000%, due 04/08/263		250,000		251,607
eG Global Finance PLC
6.250%, due 10/30/253		92,471		95,887
6.750%, due 02/07/252		200,000		197,880
Evergreen Acqco 1 LP/TVI, Inc.
9.750%, due 04/26/282		45,000		45,412
Ferrellgas LP/Ferrellgas Finance Corp.
5.375%, due 04/01/262		200,000		187,196
5.875%, due 04/01/292		225,000		198,561
Fertitta Entertainment LLC/Fertitta Entertainment Finance Co., Inc.
6.750%, due 01/15/302		175,000		139,081
FirstCash, Inc.
4.625%, due 09/01/282		125,000		109,638
5.625%, due 01/01/302		75,000		66,763
Foundation Building Materials, Inc.
6.000%, due 03/01/292		100,000		82,489
Gap, Inc.
3.625%, due 10/01/292		25,000		19,101
3.875%, due 10/01/312		25,000		17,953
Grupo Unicomer Co. Ltd.
7.875%, due 04/01/243		600,000		588,642
IRB Holding Corp.
7.000%, due 06/15/252		50,000		49,626
Ken Garff Automotive LLC
4.875%, due 09/15/282		75,000		63,428

PACE High Yield Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Corporate bonds—(continued)
Retail—(continued)
Kirk Beauty SUN GmbH
8.250% Cash or 9.000% PIK,
8.250%, due 10/01/263,7		213,702	$	208,029
Kohl's Corp.
4.625%, due 05/01/31		25,000		17,095
5.550%, due 07/17/45		25,000		14,500
LBM Acquisition LLC
6.250%, due 01/15/292		150,000		118,500
LCM Investments Holdings II LLC
4.875%, due 05/01/292		200,000		167,596
8.250%, due 08/01/312		50,000		47,569
Lithia Motors, Inc.
3.875%, due 06/01/292		200,000		165,420
4.625%, due 12/15/272		150,000		135,324
LSF9 Atlantis Holdings LLC/Victra Finance Corp.
7.750%, due 02/15/262		25,000		22,564
Macy's Retail Holdings LLC
4.500%, due 12/15/34		50,000		33,500
5.125%, due 01/15/42		150,000		92,385
5.875%, due 04/01/292		100,000		88,160
5.875%, due 03/15/302		25,000		21,150
6.375%, due 03/15/37		75,000		55,755
Marks & Spencer PLC
4.500%, due 07/10/273		125,000		140,340
Maxeda DIY Holding BV
5.875%, due 10/01/263		200,000		151,308
Michaels Cos., Inc.
7.875%, due 05/01/292		75,000		41,812
Murphy Oil USA, Inc.
4.750%, due 09/15/29		75,000		66,403
5.625%, due 05/01/27		25,000		24,164
Nordstrom, Inc.
4.375%, due 04/01/30		50,000		38,811
Patrick Industries, Inc.
4.750%, due 05/01/292		100,000		81,148
7.500%, due 10/15/272		125,000		119,062
Punch Finance PLC
6.125%, due 06/30/262		125,000		130,281
6.125%, due 06/30/263		200,000		208,450
QVC, Inc.
4.450%, due 02/15/25		100,000		86,133
Rite Aid Corp.
8.000%, due 11/15/262,10		103,000		70,798
Sizzling Platter LLC/Sizzling Platter Finance Corp.
8.500%, due 11/28/252		250,000		248,531
Sonic Automotive, Inc.
4.625%, due 11/15/292		75,000		62,434
4.875%, due 11/15/312		75,000		59,725
Specialty Building Products Holdings LLC/SBP Finance Corp.
6.375%, due 09/30/262		75,000		69,775
Staples, Inc.
7.500%, due 04/15/262		275,000		224,316
10.750%, due 04/15/272		250,000		137,712

PACE High Yield Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Corporate bonds—(continued)
Retail—(continued)
Stonegate Pub Co. Financing 2019 PLC
8.000%, due 07/13/253		325,000	$	359,469
Suburban Propane Partners LP/Suburban Energy Finance Corp.
5.000%, due 06/01/312		75,000		62,123
Superior Plus LP/Superior General Partner, Inc.
4.500%, due 03/15/292		125,000		106,616
Victoria's Secret & Co.
4.625%, due 07/15/292		50,000		36,757
Yum! Brands, Inc.
4.750%, due 01/15/302		25,000		22,255
5.375%, due 04/01/32		225,000		202,255
				8,442,094
Savings & loans: 0.0%†
Washington Mutual, Inc.
0.000%, due 09/21/494,10,11		500,000		2,500
Semiconductors: 0.2%
Amkor Technology, Inc.
6.625%, due 09/15/272		50,000		48,666
ON Semiconductor Corp.
3.875%, due 09/01/282		175,000		150,339
Synaptics, Inc.
4.000%, due 06/15/292		125,000		103,125
				302,130
Software: 1.8%
AthenaHealth Group, Inc.
6.500%, due 02/15/302		250,000		204,311
Boxer Parent Co., Inc.
6.500%, due 10/02/253		200,000		208,726
6.500%, due 10/02/252		150,000		156,544
7.125%, due 10/02/252		75,000		73,984
Camelot Finance SA
4.500%, due 11/01/262		100,000		92,439
Castle U.S. Holding Corp.
9.500%, due 02/15/282		225,000		117,563
Cloud Software Group, Inc.
6.500%, due 03/31/292		375,000		329,230
9.000%, due 09/30/292		500,000		425,792
Dun & Bradstreet Corp.
5.000%, due 12/15/292		50,000		43,015
Elastic NV
4.125%, due 07/15/292		75,000		63,207
Fair Isaac Corp.
4.000%, due 06/15/282		75,000		66,787
MSCI, Inc.
3.250%, due 08/15/332		50,000		36,994
3.625%, due 09/01/302		50,000		41,374
3.625%, due 11/01/312		150,000		119,087
4.000%, due 11/15/292		225,000		193,689
Open Text Corp.
3.875%, due 02/15/282		100,000		86,907
3.875%, due 12/01/292		150,000		122,667
6.900%, due 12/01/272		50,000		49,752

PACE High Yield Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Corporate bonds—(continued)
Software—(continued)
Open Text Holdings, Inc.
4.125%, due 02/15/302		125,000	$	103,575
4.125%, due 12/01/312		275,000		216,018
Playtika Holding Corp.
4.250%, due 03/15/292		125,000		100,843
Rocket Software, Inc.
6.500%, due 02/15/292		25,000		20,392
SS&C Technologies, Inc.
5.500%, due 09/30/272		250,000		234,568
Twilio, Inc.
3.875%, due 03/15/31		100,000		79,824
Veritas U.S., Inc./Veritas Bermuda Ltd.
7.500%, due 09/01/252		125,000		102,328
				3,289,616
Telecommunications: 4.9%
Altice France Holding SA
6.000%, due 02/15/282		400,000		175,422
8.000%, due 05/15/273		375,000		213,224
10.500%, due 05/15/272		400,000		217,640
Altice France SA
3.375%, due 01/15/283		500,000		380,725
4.125%, due 01/15/293		100,000		75,654
5.125%, due 07/15/292		375,000		256,748
5.500%, due 10/15/292		200,000		137,580
Ciena Corp.
4.000%, due 01/31/302		50,000		41,662
CommScope Technologies LLC
6.000%, due 06/15/252		86,000		51,600
CommScope, Inc.
6.000%, due 03/01/262		75,000		62,999
7.125%, due 07/01/282		75,000		28,125
8.250%, due 03/01/272		25,000		10,375
Digicel Group Holdings Ltd.
7.000%, due 11/16/232,7,8		48,300		3,381
5.000% Cash or 3.000% PIK,
8.000%, due 04/01/252,10		82,293		13,990
eircom Finance DAC
3.500%, due 05/15/263		225,000		221,693
Embarq Corp.
7.995%, due 06/01/36		125,000		68,125
Frontier Communications Holdings LLC
5.000%, due 05/01/282		150,000		129,509
5.875%, due 10/15/272		75,000		68,375
5.875%, due 11/01/29		67,911		51,043
6.000%, due 01/15/302		100,000		75,274
6.750%, due 05/01/292		350,000		276,956
8.625%, due 03/15/312		150,000		141,031
8.750%, due 05/15/302		100,000		95,275
GoTo Group, Inc.
5.500%, due 09/01/272		200,000		104,294
Hughes Satellite Systems Corp.
6.625%, due 08/01/26		150,000		127,122
Iliad Holding SASU
6.500%, due 10/15/262		200,000		186,890
Intelsat Jackson Holdings SA
8.500%, due 10/15/242,4,5,9		525,000		0

PACE High Yield Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Corporate bonds—(continued)
Telecommunications—(continued)
Level 3 Financing, Inc.
3.625%, due 01/15/292		50,000	$	25,535
3.750%, due 07/15/292		150,000		76,262
4.250%, due 07/01/282		275,000		155,505
4.625%, due 09/15/272		50,000		33,250
10.500%, due 05/15/302		146,000		146,114
Liberty Costa Rica Senior Secured Finance
10.875%, due 01/15/312		200,000		193,990
Lorca Telecom Bondco SA
4.000%, due 09/18/272		225,000		220,812
4.000%, due 09/18/273		125,000		122,674
Lumen Technologies, Inc.
4.000%, due 02/15/272		50,000		33,750
MTN Mauritius Investments Ltd.
6.500%, due 10/13/263		200,000		195,000
Network i2i Ltd.
(fixed, converts to FRN on 04/15/25),
5.650%, due 01/15/253,6,8		300,000		290,448
Nokia of America Corp.
6.450%, due 03/15/29		200,000		188,000
PPF Telecom Group BV
3.250%, due 09/29/273		225,000		219,920
SoftBank Group Corp.
3.125%, due 09/19/253		475,000		471,839
4.500%, due 04/20/253		100,000		103,673
Telecom Italia Capital SA
6.000%, due 09/30/34		200,000		164,603
6.375%, due 11/15/33		75,000		63,954
7.200%, due 07/18/36		50,000		43,231
Telecom Italia SpA
1.625%, due 01/18/293		425,000		348,512
2.375%, due 10/12/273		100,000		90,485
3.625%, due 05/25/263		200,000		197,772
Series 8,
5.250%, due 03/17/55		100,000		81,992
7.875%, due 07/31/283		100,000		108,058
Telecommunications Services of Trinidad & Tobago Ltd.
8.875%, due 10/18/293		400,000		328,664
Telesat Canada/Telesat LLC
4.875%, due 06/01/272		50,000		29,625
5.625%, due 12/06/262		125,000		79,786
6.500%, due 10/15/272		75,000		36,000
TMNL Holding BV
3.750%, due 01/15/293		375,000		342,229
T-Mobile USA, Inc.
2.625%, due 04/15/26		25,000		23,106
2.875%, due 02/15/31		25,000		19,907
Turkcell Iletisim Hizmetleri AS
5.800%, due 04/11/283		400,000		362,000
Viasat, Inc.
7.500%, due 05/30/312		50,000		32,728
Vmed O2 U.K. Financing I PLC
4.250%, due 01/31/312		200,000		157,325
4.750%, due 07/15/312		200,000		160,981

PACE High Yield Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Telecommunications—(continued)
Vodafone Group PLC
(fixed, converts to FRN on 08/27/26),
2.625%, due 08/27/803,6		225,000	$	217,163
(fixed, converts to FRN on 08/27/30),
3.000%, due 08/27/803,6		100,000		85,336
(fixed, converts to FRN on 10/03/28),
4.200%, due 10/03/783,6		125,000		121,400
(fixed, converts to FRN on 04/04/29),
7.000%, due 04/04/796		175,000		169,211
Zayo Group Holdings, Inc.
4.000%, due 03/01/272		150,000		112,896
				9,068,448
Toys/Games/Hobbies: 0.1%
Mattel, Inc.
5.450%, due 11/01/41		25,000		19,502
5.875%, due 12/15/272		100,000		95,871
6.200%, due 10/01/40		25,000		21,423
				136,796
Transportation: 0.5%
Cargo Aircraft Management, Inc.
4.750%, due 02/01/282		25,000		22,063
First Student Bidco, Inc./First Transit Parent, Inc.
4.000%, due 07/31/292		50,000		40,250
Rand Parent LLC
8.500%, due 02/15/302		25,000		22,830
Rumo Luxembourg SARL
4.200%, due 01/18/323		200,000		154,000
5.250%, due 01/10/283		200,000		182,600
Seaspan Corp.
5.500%, due 08/01/292		175,000		134,188
Western Global Airlines LLC
10.375%, due 08/15/252,10		125,000		938
XPO, Inc.
6.250%, due 06/01/282		50,000		47,903
7.125%, due 06/01/312		50,000		48,712
Zenith Finco PLC
6.500%, due 06/30/272		275,000		263,969
6.500%, due 06/30/273		100,000		95,989
				1,013,442
Trucking & leasing: 0.2%
Fly Leasing Ltd.
7.000%, due 10/15/242		125,000		114,872
Fortress Transportation & Infrastructure Investors LLC
5.500%, due 05/01/282		100,000		90,931
6.500%, due 10/01/252		128,000		126,735
9.750%, due 08/01/272		125,000		128,594
				461,132
Water: 0.1%
Solaris Midstream Holdings LLC
7.625%, due 04/01/262		175,000		166,941
Total corporate bonds (cost—$209,285,908)				179,105,870
Loan assignments—0.8%
Broadcast: 0.0%†
Mallinckrodt International Finance SA
1 mo. USD Term SOFR + 8.000%,
13.439%, due 08/28/246		3,389		3,529
Total Broadcast				3,529

PACE High Yield Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Loan assignments—(continued)
Chemicals: 0.0%†
Consolidated Energy Finance SA
Term Loan B,
1 mo. USD Term SOFR + 2.500%,
7.924%, due 05/07/256		40,256	$	39,494
Total chemicals				39,494
Commercial services: 0.0%†
GTCR W Merger Sub LLC
0.000%, due 09/20/306,12		50,000		49,604
Total Commercial services				49,604
Computer: 0.1%
Diebold Nixdorf, Inc.
3 mo. USD Term SOFR + 7.500%,
12.891%, due 08/11/286		193,745		191,889
Total Computers				191,889
Diversified financial services: 0.1%
Mulhacen Pte. Ltd.
EUR 1st Lien Term Loan,
6 mo. EUR EURIBOR + 10.000%,
10.000%, due 08/01/266	EUR	117,790		88,697
EUR 2nd Lien Term Loan,
6 mo. EUR EURIBOR + 8.000%,
11.999%, due 12/01/266		249,188		110,740
Total Diversified financial services				199,437
Entertainment: 0.2%
Allen Media LLC
2021 Term Loan B,
3 mo. USD Term SOFR + 5.500%,
11.040%, due 02/10/276		71,490		63,000
Delta 2 Lux SARL
1 mo. USD Term SOFR + 2.250%,
7.574%, due 01/15/306		25,000		24,977
Great Canadian Gaming Corp.
2021 Term Loan,
3 mo. USD Term SOFR + 4.000%,
9.658%, due 11/01/266		98,750		98,644
Scientific Games Holdings LP
2022 USD Term Loan B,
3 mo. USD Term SOFR + 3.500%,
8.914%, due 04/04/296		148,500		145,846
UFC Holdings LLC
2021 Term Loan B,
3 mo. USD Term SOFR + 2.750%,
8.399%, due 04/29/266		62,652		62,556
Total Entertainment				395,023
Health care products: 0.0%†
Avantor Funding, Inc.
2021 Term Loan B5,
1 mo. USD Term SOFR + 2.250%,
7.674%, due 11/08/276		24,192		24,165
Total Health care products				24,165
Internet: 0.1%
Endure Digital, Inc.
Term Loan,
1 mo. USD LIBOR + 3.500%,
9.422%, due 02/10/286		73,312		67,860
Total Internet				67,860

PACE High Yield Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Face amount1		Value
Loan assignments—(continued)
Media: 0.0%†
Diamond Sports Group LLC
2022 2nd Lien Term Loan,
3 mo. USD Term SOFR + 0.000%,
5.072%, due 08/24/266		96,772	$	1,029
Total media				1,029
Mining: 0.0%†
Arsenal AIC Parent LLC
3 mo. USD Term SOFR + 4.500%,
9.879%, due 08/18/306		25,000		24,920
Total mining				24,920
Oil & gas: 0.0%†
Parker Drilling Co.
2nd Lien PIK Term Loan,
11.000%, due 03/26/246,7		28,207		27,643
Total Oil & gas				27,643
Pharmaceuticals: 0.0%†
Mallinckrodt International Finance SA
1 mo. USD Term SOFR + 8.000%,
13.450%, due 08/28/246		7,062		7,353
Total Pharmaceuticals				7,353
Software: 0.1%
Athenahealth Group, Inc.
2022 Term Loan B,
1 mo. USD Term SOFR + 3.250%,
8.577%, due 02/15/296		88,034		85,158
Cloud Software Group, Inc.
2022 USD Term Loan A,
3 mo. USD Term SOFR + 4.500%,
9.990%, due 09/29/286		74,580		70,695
Total software				155,853
Telecommunications: 0.2%
Altice France SA
2023 USD Term Loan B14,
3 mo. USD Term SOFR + 5.500%,
10.894%, due 08/15/286		162,074		143,638
Consolidated Communications, Inc.
2021 Term Loan B,
1 mo. USD Term SOFR + 3.500%,
8.939%, due 10/02/276		150,000		134,457
Total telecommunications				278,095
Total loan assignments (cost—$1,763,039)				1,465,894
Non-U.S. government agency obligations: 0.0%†
Ukraine: 0.0%†
Ukreximbank Via Biz Finance PLC
9.750%, due 01/22/253		77,250		70,633
Total non-U.S. government agency obligations (cost $77,709)				70,633

	Number of shares
Preferred stocks: 0.1%
Machinery: 0.0%†
Selecta Group BV*Class A1,		21,852	9,826
Selecta Group BV*Class A2,		43,703	19,653
Total Machinery (cost—$19,205)			29,479

PACE High Yield Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Number of shares		Value
Preferred stocks—(continued)
Oil, gas & consumable fuels: 0.1%
Global Partners LP8 Series B,		2,997	$	76,319
Gulfport Energy Corp.7,8		6		51,105
Total Oil, gas & consumable fuels (cost—$77,495)				127,424
Total preferred stocks (cost—$96,700)				156,903
Rights: 0.0%†
Intelsat Jackson Holdings SA
expires 12/05/25*		532		3,458
expires 12/05/25*		532		2,660
				6,118
Total rights (cost—$0)				6,118

	Number of warrants
Warrants: 0.0%†
California Resources Corp. expires 10/27/24*		201	3,586
Carlson Travel, Inc. expires 11/19/26*,4		1,052	0
Carlson Travel, Inc. expires 11/19/28*,4		1,108	0
Chalice Mining Ltd. expires 10/01/24*,4		9	1
Chalice Mining Ltd. expires 10/01/25*,4		9	4
Intelsat SA expires 02/17/27*,4		1	0
Linx Synthetic expires 12/31/49*		2	8,634
Total warrants (cost—$367,485)			12,225

	Number of shares
Common stocks: 0.6%
Aerospace & defense: 0.0%†
Egmv13794*,4,5		2,750	0
Energy equipment & services: 0.0%†
Nine Energy Service, Inc.*,13		750	2,640
Parker Drilling Co.*		1,153	14,989
			17,629
Financial services: 0.1%
SPN*,2,4		1,857	136,722
Gas utilities: 0.0%†
Ferrellgas Partners LP,Class B		364	62,064
IT services: 0.1%
Carnelian Point Holdings LP4		140	188,714
Leisure products: 0.0%†
Codere New Topco SA*,4,5,9		4,367	0
Teide 10 S.L.*,4,5		5,444,137	50,404
			50,404
Media: 0.0%†
iHeartMedia, Inc.,Class A*		1,347	3,165
Metals & mining: 0.0%†
Aleris International, Inc.*,4,5,9		795	15,900
Cloud Peak Energy, Inc.*,4,5		66	0
Petra Diamonds Ltd.*		54,100	29,459
			45,359
Oil, gas & consumable fuels: 0.2%
Chaparral Energy, Inc.*,4		2,856	121,380
Denbury, Inc.*		906	80,534
Summit Midstream Partners LP*		6,921	131,153
			333,067

PACE High Yield Investments 

Portfolio of investments – October 31, 2023 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
Paper & forest products: 0.0%†
Hardwood Holdings LLC*,4		936	$	54,288
Technology hardware, storage & peripherals: 0.1%
Diebold Nixdorf, Inc.*,13		3,544		67,265
Wireless telecommunication services: 0.1%
Intelsat SA*,4		5,083		108,649
Total common stocks (cost—$1,664,675)				1,067,326
Short-term investments—0.9%
Investment companies: 0.9%
State Street Institutional U.S. Government Money Market Fund, 5.301%14 (cost $1,741,084)		1,741,084		1,741,084
Investment of cash collateral from securities loaned—0.0%†
Money market funds: 0.0%†
State Street Navigator Securities Lending Government Money Market Portfolio, 5.404%14 (cost—$5,727)		5,727		5,727
Total investments (cost—$215,002,327)15—98.4%				183,631,780
Other assets in excess of liabilities—1.6%				2,937,205
Net assets—100.0%			$	186,568,985

For a listing of defined portfolio acronyms that are used throughout the Portfolio of investments as well as the tables that follow, please refer to the Glossary of terms used in the Portfolio of investments.

Forward foreign currency contracts

Counterparty	Sell		Purchase		Settlement date	Unrealized appreciation (depreciation)
SSB	EUR	35,262,779	USD	36,952,366	11/07/23	$	(366,545	)
SSB	GBP	4,752,385	USD	5,737,669	11/07/23		(38,770	)
SSB	USD	492,000	EUR	466,066	11/07/23		1,242
SSB	USD	124,000	GBP	102,193	11/07/23		213
Net unrealized appreciation (depreciation)						$	(403,860	)

PACE High Yield Investments

Portfolio of investments – October 31, 2023 (unaudited) 

Fair valuation summary

The following is a summary of the fair valuations according to the inputs used as of October 31, 2023 in valuing the Portfolio's investments. In the event a Portfolio holds investments for which fair value is measured using the NAV per share practical expedient (or its equivalent), a separate column will be added to the fair value hierarchy table; this is intended to permit reconciliation to the amounts presented in the Portfolio of investments:

Description	Unadjusted quoted prices in active market for identical investments (Level 1)		Other significant observable inputs (Level 2)			Unobservable inputs (Level 3)		Total
Assets
Common stocks	$	391,269	$	471,443		$	204,614	$	1,067,326
Preferred stocks		76,319		80,584			—		156,903
Warrants		3,586		5			8,634		12,225
Rights		—		6,118			—		6,118
Corporate bonds		—		178,937,805			168,065		179,105,870
Loan assignments		—		1,465,894			—		1,465,894
Non-U.S. government agency obligations		—		70,633			—		70,633
Investment companies		—		1,741,084			—		1,741,084
Investment of cash collateral from securities loaned		—		5,727			—		5,727
Forward foreign currency contracts		—		1,822			—		1,822
Total	$	471,174	$	182,781,115		$	381,313	$	183,633,602
Liabilities
Forward foreign currency contracts	$	—	$	(405,682	)	$	—	$	(405,682	)
Total	$	—	$	(405,682	)	$	—	$	(405,682	)

At October 31, 2023, there were no transfers in or out of Level 3.

Securities valued using unobservable inputs, i.e. Level 3, were not considered significant to the Fund.

Portfolio footnotes

†	Amount represents less than 0.05% or (0.05)%.
*	Non–income producing security.
1	In U.S. dollars unless otherwise indicated.
2	Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933. These securities are considered liquid, unless noted otherwise, and may be resold in transactions exempt from registrations, normally to qualified institutional buyers. Securities exempt from registration pursuant to Rule 144A, in the amount of $103,208,475, represented 55.3% of the Portfolios net assets at period end.
3	Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts from registration securities offered and sold outside of the United States. Such a security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption from registration.
4	Security fair valued by the Valuation Committee under the direction of the Board of Trustees.
5	Significant unobservable inputs were used in the valuation of this security; i.e. Level 3.
6	Floating or variable rate securities. The rates disclosed are as of October 31, 2023. For securities based on a published reference rate and spread, the reference rate and spread are indicated within the description. Variable rate securities with a floor or ceiling feature are disclosed at the inherent rate, where applicable. Certain variable rate securities are not based on a published reference rate and spread, but are determined by the issuer or agent and are based on current market conditions; these securities do not indicate a reference rate and spread in the description.
7	Payment–in–kind security for which interest may be paid in cash or additional principal, at the discretion of the issuer.
8	Perpetual investment. Date shown reflects the next call date.

PACE High Yield Investments

Portfolio of investments – October 31, 2023 (unaudited) 

9	This security is considered restricted. At period end, the value of restricted security was $91,541, represented 55.3 of the Fund’s net assets.
The table below provides further information.

Restricted security	Acquisition date	Acquisition cost		Acquisition cost as a percentage of net asset			Value at 10/31/23		Value as a percentage of net assets
Aleris International, Inc.	1/10/17	$	13,981		0.0	%	$	15,900		0.0	%
Appcion	8/23/18		6,50,000		0.0			6,500		0.0
Cloud Peak Energy, Inc.	9/2/20		—		0.0			5,500		0.0
Codere New Topco SA	12/1/21		—		0.0			—		0.0
Intelsat Jackson Holdings SA	9/5/18		—		0.0			—		0.0

10	Bond interest in default.
11	Zero coupon bond.
12	Position is unsettled. Contract rate was not determined at October 31, 2023 and does not take effect until settlement.
13	Security, or portion thereof, was on loan at the period end.
14	Rates shown reflect yield at October 31, 2023.
15	Includes $5,478 of investments in securities on loan, at value plus accrued interest and dividends, if any. The Fund includes cash collateral of $5,727 and non-cash collateral of $0.

PACE Large Co Value Equity Investments 

Portfolio of investments – October 31, 2023 (unaudited) 

	Number of shares		Value
Common stocks: 96.2%
Aerospace & defense: 2.5%
Boeing Co.*		4,400	$	822,008
General Dynamics Corp.		69,847		16,854,780
RTX Corp.		13,000		1,058,070
				18,734,858
Air freight & logistics: 0.2%
FedEx Corp.		5,800		1,392,580
Automobile components: 0.3%
Adient PLC*		7,900		266,151
Aptiv PLC*		5,400		470,880
BorgWarner, Inc.		8,000		295,200
Magna International, Inc.1		27,000		1,298,430
				2,330,661
Automobiles: 1.4%
General Motors Co.		58,100		1,638,420
Harley-Davidson, Inc.		329,377		8,843,772
				10,482,192
Banks: 6.1%
Bank of America Corp.		21,100		555,774
Citigroup, Inc.		256,884		10,144,349
Citizens Financial Group, Inc.		67,200		1,574,496
First Citizens BancShares, Inc., Class A		400		552,296
JPMorgan Chase & Co.		118,588		16,490,848
M&T Bank Corp.		99,123		11,176,118
U.S. Bancorp		60,400		1,925,552
Wells Fargo & Co.		70,000		2,783,900
				45,203,333
Beverages: 1.3%
Keurig Dr Pepper, Inc.		307,062		9,313,190
Biotechnology: 2.1%
Gilead Sciences, Inc.		194,847		15,303,283
Broadline retail: 1.5%
Alibaba Group Holding Ltd., ADR*		133,133		10,988,798
Building products: 1.4%
Johnson Controls International PLC		217,641		10,668,762
Capital markets: 6.4%
Ares Management Corp., Class A		108,386		10,685,776
Bank of New York Mellon Corp.		306,081		13,008,442
Charles Schwab Corp.		169,468		8,819,115
Goldman Sachs Group, Inc.		4,600		1,396,606
Raymond James Financial, Inc.		126,811		12,102,842
State Street Corp.		17,200		1,111,636
				47,124,417
Chemicals: 1.5%
Axalta Coating Systems Ltd.*		380,175		9,971,990
Olin Corp.		20,000		854,400
				10,826,390

PACE Large Co Value Equity Investments 

Portfolio of investments – October 31, 2023 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
Communications equipment: 2.3%
Cisco Systems, Inc.		251,116	$	13,090,677
F5, Inc.*		14,300		2,167,737
Telefonaktiebolaget LM Ericsson, ADR1		471,800		2,104,228
				17,362,642
Construction & engineering: 0.0%†
Fluor Corp.*		10,500		349,545
Construction materials: 1.7%
Heidelberg Materials AG		172,054		12,466,811
Consumer finance: 1.9%
American Express Co.		89,991		13,141,386
Capital One Financial Corp.		3,900		395,031
Discover Financial Services		4,400		361,152
				13,897,569
Containers & packaging: 0.0%†
International Paper Co.		8,400		283,332
Electric utilities: 3.3%
American Electric Power Co., Inc.		142,525		10,766,339
Exelon Corp.		315,960		12,303,482
PPL Corp.		59,300		1,457,001
				24,526,822
Electrical equipment: 1.4%
Emerson Electric Co.		120,097		10,685,030
Electronic equipment, instruments & components: 1.8%
Corning, Inc.		480,620		12,861,391
TE Connectivity Ltd.		6,000		707,100
				13,568,491
Energy equipment & services: 0.4%
Baker Hughes Co.		10,600		364,852
Halliburton Co.		16,300		641,242
NOV, Inc.		73,400		1,465,064
Schlumberger NV		6,500		361,790
				2,832,948
Entertainment: 0.1%
Warner Bros Discovery, Inc.*		69,300		688,842
Financial services: 3.8%
Berkshire Hathaway, Inc., Class B*		46,379		15,830,544
Corebridge Financial, Inc.		23,400		468,000
Equitable Holdings, Inc.		385,045		10,230,646
Fidelity National Information Services, Inc.		29,500		1,448,745
				27,977,935
Food products: 3.4%
Archer-Daniels-Midland Co.		157,591		11,278,788
Danone SA		232,839		13,833,508
				25,112,296
Health care equipment & supplies: 1.1%
DENTSPLY SIRONA, Inc.		172,067		5,232,557

PACE Large Co Value Equity Investments 

Portfolio of investments – October 31, 2023 (unaudited)

	Number of shares		Value
Common stocks—(continued)
Health care equipment & supplies—(continued)
GE HealthCare Technologies, Inc.*		20,200	$	1,344,714
Medtronic PLC		20,600		1,453,536
Zimmer Biomet Holdings, Inc.		3,800		396,758
				8,427,565
Health care providers & services: 6.5%
Centene Corp.*		14,200		979,516
Cigna Group		2,500		773,000
CVS Health Corp.		23,600		1,628,636
Elevance Health, Inc.		40,336		18,154,830
HCA Healthcare, Inc.		3,200		723,648
Henry Schein, Inc.*		131,502		8,545,000
UnitedHealth Group, Inc.		31,716		16,985,821
				47,790,451
Hotels, restaurants & leisure: 2.1%
Aramark		337,954		9,101,101
Booking Holdings, Inc.*		120		334,747
Expedia Group, Inc.*		61,978		5,905,884
				15,341,732
Industrial conglomerates: 0.2%
General Electric Co.		14,800		1,607,724
Insurance: 7.0%
American International Group, Inc.		216,970		13,302,431
Hartford Financial Services Group, Inc.		16,000		1,175,200
Marsh & McLennan Cos., Inc.		44,606		8,459,528
MetLife, Inc.		216,889		13,015,509
Progressive Corp.		101,463		16,040,285
				51,992,953
Interactive media & services: 3.7%
Alphabet, Inc., Class A*		118,530		14,707,202
Meta Platforms, Inc., Class A*		42,213		12,717,511
				27,424,713
IT services: 0.1%
Cognizant Technology Solutions Corp., Class A		6,200		399,714
Machinery: 0.4%
CNH Industrial NV		53,900		591,822
Cummins, Inc.		4,300		930,090
PACCAR, Inc.		8,900		734,517
Timken Co.		5,000		345,600
				2,602,029
Media: 0.3%
Comcast Corp., Class A		36,100		1,490,569
Omnicom Group, Inc.		5,100		382,041
Paramount Global, Class B		25,900		281,792
				2,154,402
Metals & mining: 2.0%
Rio Tinto PLC		234,884		15,112,437

PACE Large Co Value Equity Investments 

Portfolio of investments – October 31, 2023 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
Multi-utilities: 1.9%
Sempra		201,206	$	14,090,456
Oil, gas & consumable fuels: 5.6%
APA Corp.		61,200		2,430,864
Cenovus Energy, Inc.		35,100		669,708
ConocoPhillips		148,581		17,651,423
EOG Resources, Inc.		130,324		16,453,405
Marathon Oil Corp.		53,000		1,447,430
Murphy Oil Corp.		8,700		390,369
Ovintiv, Inc.		20,100		964,800
Shell PLC, ADR		21,200		1,380,968
				41,388,967
Passenger airlines: 0.6%
Southwest Airlines Co.		199,145		4,426,993
Personal care products: 2.4%
Unilever PLC, ADR1		371,778		17,603,688
Pharmaceuticals: 5.2%
GSK PLC, ADR		9,800		349,860
Merck & Co., Inc.		183,487		18,844,115
Pfizer, Inc.		624,139		19,073,688
Sanofi SA, ADR		8,200		371,050
				38,638,713
Semiconductors & semiconductor equipment: 3.5%
Lam Research Corp.		13,414		7,890,383
Micron Technology, Inc.		11,500		769,005
NXP Semiconductors NV		43,911		7,571,574
QUALCOMM, Inc.		90,751		9,890,951
				26,121,913
Software: 0.5%
Microsoft Corp.		5,600		1,893,416
Oracle Corp.		6,300		651,420
Workday, Inc., Class A*		4,700		995,037
				3,539,873
Specialized REITs: 3.4%
Crown Castle, Inc.		92,532		8,603,625
Gaming & Leisure Properties, Inc.		366,702		16,644,604
				25,248,229
Specialty retail: 0.8%
TJX Cos., Inc.		70,665		6,223,467
Technology hardware, storage & peripherals: 1.9%
Samsung Electronics Co. Ltd.		277,650		13,753,497
Tobacco: 2.1%
Philip Morris International, Inc.		178,209		15,889,114
Wireless telecommunication services: 0.1%
Vodafone Group PLC, ADR		66,000		609,840
Total common stocks (cost—$724,965,785)				712,509,197

PACE Large Co Value Equity Investments 

Portfolio of investments – October 31, 2023 (unaudited) 

	Number of shares		Value
Short term investments: 4.2%
Investment companies: 4.2%
State Street Institutional U.S. Government Money Market Fund, 5.301%2 (cost—$31,027,476)		31,027,476	$	31,027,476
Investment of cash collateral from securities loaned: 0.3%
Money market funds: 0.3%
State Street Navigator Securities Lending Government Money Market Portfolio, 5.404%2 (cost $2,461,465)		2,461,465		2,461,465
Total Investments (cost—$758,454,726)3—100.7%				745,998,138
Liabilities in excess of other assets—(0.7)%				(4,999,069	)
Net Assets—100.0%			$	740,999,069

Fair valuation summary

The following is a summary of the fair valuations according to the inputs used as of October 31, 2023 in valuing the Portfolio's investments. In the event a Portfolio holds investments for which fair value is measured using the NAV per share practical expedient (or its equivalent), a separate column will be added to the fair value hierarchy table; this is intended to permit reconciliation to the amounts presented in the Portfolio of investments:

Description	Unadjusted quoted prices in active markets for identical investments (Level 1)		Other significant observable inputs (Level 2)		Unobservable inputs (Level 3)		Total
Assets
Common stocks	$	672,455,381	$	40,053,816	$	—	$	712,509,197
Investments companies		—		31,027,476		—		31,027,476
Investment of cash collateral from securities loaned		—		2,461,465		—		2,461,465
Total	$	672,455,381	$	73,542,757	$	—	$	745,998,138

At October 31, 2023, there were no transfers in or out of Level 3.

Portfolio footnotes 

†	Amount represents less than 0.05% or (0.05)%.
*	Non–income producing security.
1	Security, or portion thereof, was on loan at the period end.
2	Rates shown reflect yield at October 31, 2023.
3	Includes $6,678,867 of investments in securities on loan, at value plus accrued interest and dividends, if any. The Fund includes cash collateral of $2,461,465 and non-cash collateral of $4,350,344.

PACE Large Co Growth Equity Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Number of shares		Value
Common stocks: 97.9%
Aerospace & defense: 0.7%
TransDigm Group, Inc.*		6,316	$	5,230,216
Automobiles: 1.4%
Tesla, Inc.*		50,358		10,113,901
Beverages: 0.7%
Monster Beverage Corp.*		100,155		5,117,921
Biotechnology: 2.6%
AbbVie, Inc.		19,742		2,787,176
Alnylam Pharmaceuticals, Inc.*		5,023		762,491
Exact Sciences Corp.*		59,957		3,692,752
Moderna, Inc.*		6,198		470,800
Regeneron Pharmaceuticals, Inc.*		12,560		9,795,418
Seagen, Inc.*		3,183		677,374
				18,186,011
Broadline retail: 10.4%
Amazon.com, Inc.*		507,008		67,477,694
MercadoLibre, Inc.*		5,078		6,300,478
				73,778,172
Building products: 0.5%
Trane Technologies PLC		18,427		3,506,842
Capital markets: 0.9%
Blackstone, Inc.		30,413		2,808,640
Charles Schwab Corp.		10,840		564,114
Morgan Stanley		30,150		2,135,223
MSCI, Inc.		1,495		704,967
				6,212,944
Chemicals: 0.1%
Sherwin-Williams Co.		2,620		624,110
Communications equipment: 0.3%
Arista Networks, Inc.*		11,873		2,378,993
Construction materials: 0.1%
Martin Marietta Materials, Inc.		1,890		772,897
Electric utilities: 0.1%
NextEra Energy, Inc.		13,825		805,998
Electrical equipment: 1.3%
Eaton Corp. PLC		33,715		7,009,686
Rockwell Automation, Inc.		7,702		2,024,162
				9,033,848
Electronic equipment, instruments & components: 0.8%
Amphenol Corp., Class A		49,883		4,018,076
Jabil, Inc.		14,744		1,810,563
				5,828,639
Energy equipment & services: 0.6%
Schlumberger NV		72,029		4,009,134
Entertainment: 4.2%
Netflix, Inc.*		69,110		28,451,896
Spotify Technology SA*		9,047		1,490,584
				29,942,480

PACE Large Co Growth Equity Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
Financial services: 6.1%
Block, Inc.*		3,738	$	150,455
Mastercard, Inc., Class A		60,115		22,624,280
PayPal Holdings, Inc.*		149,714		7,755,185
Visa, Inc., Class A		53,083		12,479,813
				43,009,733
Ground transportation: 1.2%
Uber Technologies, Inc.*		201,453		8,718,886
Health care equipment & supplies: 1.7%
Abbott Laboratories		76,715		7,253,403
Align Technology, Inc.*		15,110		2,789,155
Intuitive Surgical, Inc.*		6,871		1,801,714
				11,844,272
Health care providers & services: 3.5%
Cigna Group		4,050		1,252,260
HCA Healthcare, Inc.		16,884		3,818,148
Humana, Inc.		1,902		996,058
McKesson Corp.		15,381		7,003,892
UnitedHealth Group, Inc.		22,171		11,873,901
				24,944,259
Hotels, restaurants & leisure: 3.1%
Airbnb, Inc., Class A*		83,010		9,819,253
Chipotle Mexican Grill, Inc.*		2,151		4,177,672
Marriott International, Inc., Class A		28,552		5,383,765
Starbucks Corp.		30,758		2,837,118
				22,217,808
Household durables: 0.2%
DR Horton, Inc.		12,611		1,316,588
Household products: 0.1%
Procter & Gamble Co.		5,497		824,715
Interactive media & services: 9.2%
Alphabet, Inc., Class C*		312,754		39,188,076
Meta Platforms, Inc., Class A*		87,230		26,279,782
				65,467,858
IT services: 2.4%
Accenture PLC, Class A		28,012		8,322,085
Cognizant Technology Solutions Corp., Class A		31,668		2,041,636
MongoDB, Inc.*		4,882		1,682,289
Shopify, Inc., Class A*		97,327		4,592,861
				16,638,871
Life sciences tools & services: 1.4%
Illumina, Inc.*		30,411		3,327,572
Thermo Fisher Scientific, Inc.		13,850		6,160,064
				9,487,636
Machinery: 0.4%
Deere & Co.		8,410		3,072,678
Media: 0.5%
Trade Desk, Inc., Class A*		44,133		3,131,678

PACE Large Co Growth Equity Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
Metals & mining: 0.2%
Freeport-McMoRan, Inc.		43,945	$	1,484,462
Oil, gas & consumable fuels: 1.8%
Canadian Natural Resources Ltd.		51,786		3,289,964
Cheniere Energy, Inc.		13,491		2,245,172
ConocoPhillips		24,706		2,935,073
Exxon Mobil Corp.		19,518		2,065,980
Hess Corp.		12,279		1,773,088
Peabody Energy Corp.		28,281		667,149
				12,976,426
Personal care products: 0.0%†
Estee Lauder Cos., Inc., Class A		1,862		239,956
Pharmaceuticals: 5.1%
Eli Lilly & Co.		45,917		25,434,804
Novo Nordisk AS, ADR		49,526		4,782,726
Zoetis, Inc.		38,284		6,010,588
				36,228,118
Semiconductors & semiconductor equipment: 7.7%
Advanced Micro Devices, Inc.*		32,398		3,191,203
ARM Holdings PLC*,1		17,577		866,370
ASML Holding NV, Registered Shares		4,464		2,673,088
Broadcom, Inc.		15,397		12,954,574
First Solar, Inc.*		14,058		2,002,562
Lam Research Corp.		8,113		4,772,229
NVIDIA Corp.		65,095		26,545,741
ON Semiconductor Corp.*		22,102		1,384,469
				54,390,236
Software: 23.4%
Adobe, Inc.*		39,137		20,823,232
AppLovin Corp., Class A*		79,394		2,893,117
Autodesk, Inc.*		32,172		6,358,152
HubSpot, Inc.*		5,542		2,348,533
Intuit, Inc.		12,237		6,056,703
Microsoft Corp.		209,377		70,792,458
Oracle Corp.		89,844		9,289,870
Salesforce, Inc.*		85,769		17,224,988

PACE Large Co Growth Equity Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
Software—(continued)
ServiceNow, Inc.*		29,254	$	17,021,440
Synopsys, Inc.*		14,438		6,777,775
Workday, Inc., Class A*		30,674		6,493,993
				166,080,261
Specialty retail: 1.6%
AutoZone, Inc.*		1,911		4,733,795
Lowe's Cos., Inc.		33,656		6,413,824
				11,147,619
Technology hardware, storage & peripherals: 2.9%
Apple, Inc.		121,892		20,815,497
Textiles, apparel & luxury goods: 0.6%
NIKE, Inc., Class B		39,196		4,028,173
Trading companies & distributors: 0.1%
WW Grainger, Inc.		797		581,675
Total common stocks (cost—$644,855,488)				694,189,511
Short term investments: 2.3%
Investment companies: 2.3%
State Street Institutional U.S. Government Money Market Fund, 5.301%2 (cost—$16,427,091)		16,427,091		16,427,091
Investment of cash collateral from securities loaned: 0.1%
Money market funds: 0.1%
State Street Navigator Securities Lending Government Money Market Portfolio, 5.404%2 (cost $852,649)		852,649		852,649
Total Investments (cost—$662,135,228)3—100.3%				711,469,251
Liabilities in excess of other assets—(0.3)%				(1,933,744	)
Net Assets—100.0%			$	709,535,507

For a listing of defined portfolio acronyms that are used throughout the Portfolio of investments as well as the tables that follow, please refer to the Glossary of terms used in the Portfolio of investments.

PACE Large Co Growth Equity Investments

Portfolio of investments – October 31, 2023 (unaudited) 

Fair valuation summary

The following is a summary of the fair valuations according to the inputs used as of October 31, 2023 in valuing the Portfolio's investments. In the event a Portfolio holds investments for which fair value is measured using the NAV per share practical expedient (or its equivalent), a separate column will be added to the fair value hierarchy table; this is intended to permit reconciliation to the amounts presented in the Portfolio of investments:

Description	Unadjusted quoted prices in active market for identical investments (Level 1)		Other significant observable inputs (Level 2)		Unobservable inputs (Level 3)		Total
Assets
Common stocks	$	694,189,511	$	—	$	—	$	694,189,511
Investment companies		—		16,427,091		—		16,427,091
Investment of cash collateral from securities loaned		—		852,649		—		852,649
Total	$	694,189,511	$	17,279,740	$	—	$	711,469,251

At October 31, 2023, there were no transfers in or out of Level 3.

Portfolio footnotes

†	Amount represents less than 0.05% or (0.05)%.
*	Non–income producing security.
1	Security, or portion thereof, was on loan at the period end.
2	Rates shown reflect yield at October 31, 2023.
3	Includes $857,695 of investments in securities on loan, at value plus accrued interest and dividends, if any. The Fund includes cash collateral of $852,649 and non-cash collateral of $0.

PACE Small/Medium Co Value Equity Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Number of shares		Value
Common stocks: 89.9%
Aerospace & defense: 0.2%
Northrop Grumman Corp.		1,000	$	471,430
Air freight & logistics: 0.3%
FedEx Corp.		3,500		840,350
Automobile components: 1.4%
Gentex Corp.		114,758		3,291,259
Goodyear Tire & Rubber Co.*		45,311		539,201
				3,830,460
Automobiles: 0.6%
Thor Industries, Inc.		18,745		1,648,248
Banks: 11.7%
Ameris Bancorp		70,440		2,627,412
Bank of Hawaii Corp.1		39,100		1,931,149
Bank of NT Butterfield & Son Ltd.		109,830		2,774,306
Bank OZK		42,670		1,528,013
Banner Corp.		58,110		2,452,823
Carter Bankshares, Inc.*		158,275		1,782,177
First Busey Corp.		80,683		1,602,364
First Citizens BancShares, Inc., Class A		700		966,518
First Hawaiian, Inc.		108,110		1,938,412
First Horizon Corp.		129,100		1,387,825
Glacier Bancorp, Inc.		49,197		1,485,257
Hancock Whitney Corp.		50,150		1,726,665
Popular, Inc.		42,260		2,748,590
Truist Financial Corp.		18,000		510,480
Webster Financial Corp.		98,610		3,744,222
Wintrust Financial Corp.		34,520		2,578,299
				31,784,512
Beverages: 1.0%
National Beverage Corp.*		59,834		2,775,101
Building products: 4.1%
Armstrong World Industries, Inc.		25,400		1,927,606
Hayward Holdings, Inc.*		116,020		1,218,210
Lennox International, Inc.		9,675		3,584,974
Zurn Elkay Water Solutions Corp.		170,699		4,516,696
				11,247,486
Capital markets: 2.4%
Houlihan Lokey, Inc.		19,653		1,975,520
LPL Financial Holdings, Inc.		14,976		3,362,411
Virtus Investment Partners, Inc.		6,000		1,105,380
				6,443,311
Chemicals: 2.1%
HB Fuller Co.		37,029		2,449,468
Innospec, Inc.		13,366		1,309,868
Olin Corp.		10,000		427,200
Scotts Miracle-Gro Co.1		31,920		1,418,525
				5,605,061

PACE Small/Medium Co Value Equity Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
Commercial services & supplies: 2.3%
OPENLANE, Inc.*		208,754	$	2,803,566
Stericycle, Inc.*		84,760		3,495,503
				6,299,069
Communications equipment: 0.7%
Comtech Telecommunications Corp.		154,473		1,884,571
Consumer finance: 0.5%
Enova International, Inc.*		32,352		1,290,198
Consumer staples distribution & retail: 2.5%
BJ's Wholesale Club Holdings, Inc.*		36,605		2,493,533
U.S. Foods Holding Corp.*		112,030		4,362,448
				6,855,981
Diversified consumer services: 0.1%
H&R Block, Inc.		9,500		389,975
Diversified telecommunication services: 0.2%
Liberty Latin America Ltd., Class A*		92,221		629,869
Electric utilities: 2.2%
IDACORP, Inc.		36,860		3,491,011
Portland General Electric Co.		62,278		2,492,365
				5,983,376
Electrical equipment: 0.7%
EnerSys		22,480		1,923,838
Electronic equipment, instruments & components: 0.5%
Zebra Technologies Corp., Class A*		6,285		1,316,268
Energy equipment & services: 2.7%
ChampionX Corp.		97,770		3,011,316
Liberty Energy, Inc.		170,490		3,358,653
Ranger Energy Services, Inc.		31,730		368,385
TETRA Technologies, Inc.*		132,325		627,221
				7,365,575
Entertainment: 0.1%
Lions Gate Entertainment Corp., Class B*		44,400		331,224
Financial services: 1.5%
Essent Group Ltd.		50,680		2,394,123
Jack Henry & Associates, Inc.		11,850		1,670,732
				4,064,855
Food products: 2.9%
Conagra Brands, Inc.		8,300		227,088
Lamb Weston Holdings, Inc.		3,400		305,320
Post Holdings, Inc.*		37,604		3,018,849
TreeHouse Foods, Inc.*		102,020		4,253,214
				7,804,471
Gas utilities: 0.1%
National Fuel Gas Co.		7,800		397,410
Ground transportation: 1.4%
Landstar System, Inc.		20,010		3,297,248
Lyft, Inc., Class A*		57,400		526,358
				3,823,606

PACE Small/Medium Co Value Equity Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
Health care equipment & supplies: 2.2%
Envista Holdings Corp.*		123,410	$	2,871,751
Integra LifeSciences Holdings Corp.*		84,020		3,021,359
				5,893,110
Health care providers & services: 2.8%
Acadia Healthcare Co., Inc.*		37,220		2,736,042
Amedisys, Inc.*		18,790		1,719,097
CorVel Corp.*		10,800		2,094,552
Select Medical Holdings Corp.		24,900		565,977
Tenet Healthcare Corp.*		10,300		553,110
				7,668,778
Health care REITs: 1.1%
Healthcare Realty Trust, Inc.		209,330		3,003,885
Hotels, restaurants & leisure: 4.0%
Arcos Dorados Holdings, Inc., Class A		249,585		2,251,257
Boston Pizza Royalties Income Fund		79,800		844,180
Boston Pizza Royalties Income Fund		36,900		390,258
Cheesecake Factory, Inc.1		67,660		2,102,196
Despegar.com Corp.*		316,910		2,101,113
Six Flags Entertainment Corp.*		163,870		3,261,013
				10,950,017
Household durables: 0.1%
Taylor Morrison Home Corp.*		5,100		195,432
Household products: 1.1%
WD-40 Co.		13,969		2,953,047
Industrial REITs: 0.3%
Granite Real Estate Investment Trust		19,690		899,538
Insurance: 2.7%
Assured Guaranty Ltd.		36,910		2,303,184
CNO Financial Group, Inc.		35,437		821,430
W R Berkley Corp.		64,096		4,321,352
				7,445,966
IT services: 1.3%
BigCommerce Holdings, Inc.*		312,954		2,782,161
VeriSign, Inc.*		3,900		778,674
				3,560,835
Leisure products: 0.1%
JAKKS Pacific, Inc.*		12,807		214,773
Machinery: 9.3%
Commercial Vehicle Group, Inc.*		199,611		1,391,288
EnPro Industries, Inc.		15,830		1,758,080
Esab Corp.		37,050		2,345,265
Graco, Inc.		44,590		3,315,266
Helios Technologies, Inc.		32,400		1,675,728
John Bean Technologies Corp.		19,238		2,001,137
Kadant, Inc.		10,588		2,329,360
Lincoln Electric Holdings, Inc.		9,550		1,669,340
Miller Industries, Inc.		65,159		2,369,833
RBC Bearings, Inc.*		15,464		3,399,606

PACE Small/Medium Co Value Equity Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
Machinery—(continued)
Terex Corp.		37,660	$	1,724,828
Toro Co.		15,000		1,212,600
				25,192,331
Marine transportation: 1.1%
Kirby Corp.*		41,125		3,072,037
Metals & mining: 0.6%
ATI, Inc.*		42,310		1,598,049
Office REITs: 1.0%
COPT Defense Properties		117,480		2,678,544
Oil, gas & consumable fuels: 5.1%
Cheniere Energy, Inc.		3,300		549,186
Comstock Resources, Inc.1		204,145		2,572,227
Devon Energy Corp.		8,700		405,159
Golar LNG Ltd.		56,547		1,268,349
Gulfport Energy Corp.*		2,729		337,332
New Fortress Energy, Inc.		37,700		1,142,310
Northern Oil & Gas, Inc.		62,650		2,402,001
Viper Energy Partners LP		127,000		3,616,960
W&T Offshore, Inc.*		394,093		1,635,486
				13,929,010
Personal care products: 1.1%
BellRing Brands, Inc.*		50,830		2,222,796
Herbalife Ltd.*		18,600		265,050
Kenvue, Inc.		20,700		385,020
				2,872,866
Pharmaceuticals: 0.6%
Elanco Animal Health, Inc.*		172,340		1,518,315
Professional services: 4.0%
Broadridge Financial Solutions, Inc.		21,850		3,728,484
CACI International, Inc., Class A*		6,997		2,272,346
KBR, Inc.		22,100		1,285,115
Science Applications International Corp.		8,950		977,698
TransUnion		56,424		2,475,885
				10,739,528
Retail REITs: 0.7%
Retail Opportunity Investments Corp.		158,870		1,865,134
Semiconductors & semiconductor equipment: 0.8%
Teradyne, Inc.		27,046		2,252,120
Software: 3.2%
Adeia, Inc.		6,236		52,569
Dolby Laboratories, Inc., Class A		41,164		3,331,814
Varonis Systems, Inc.*		98,975		3,329,519
Xperi, Inc.*		219,093		1,860,100
				8,574,002
Specialized REITs: 0.6%
Lamar Advertising Co., Class A		18,006		1,481,354

PACE Small/Medium Co Value Equity Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
Specialized REITs—(continued)
PotlatchDeltic Corp.		4,600	$	197,110
				1,678,464
Specialty retail: 2.4%
Leslie's, Inc.*		405,000		2,000,700
National Vision Holdings, Inc.*		164,595		2,557,806
Upbound Group, Inc.		73,685		1,920,231
				6,478,737
Textiles, apparel & luxury goods: 1.2%
Samsonite International SA, ADR*		206,360		3,186,198
Trading companies & distributors: 0.3%
United Rentals, Inc.		2,000		812,540
Total common stocks (cost—$230,178,532)				244,239,501
Exchange traded funds: 4.3%
iShares Russell 2000 Value ETF1		73,990		9,426,326
iShares Russell Mid-Cap Value ETF1		24,050		2,383,596
Total exchange traded funds (cost—$11,803,423)				11,809,922
Investment companies: 0.3%
Sprott Physical Uranium Trust (cost—$420,108)		47,350		857,370
Total investment companies (cost—$420,108)				857,370
Short term investments: 5.4%
Investment companies: 5.4%
State Street Institutional U.S. Government Money Market Fund, 5.301%2 (cost—$14,666,686)		14,666,686		14,666,686
Investment of cash collateral from securities loaned: 0.8%
Money market funds: 0.8%
State Street Navigator Securities Lending Government Money Market Portfolio, 5.404%2 (cost $2,048,699)		2,048,699		2,048,699
Total Investments (cost—$259,117,448)3—100.7%				273,622,178
Liabilities in excess of other assets—(0.7)%				(1,912,142	)
Net Assets—100.0%			$	271,710,036

For a listing of defined portfolio acronyms that are used throughout the Portfolio of investments as well as the tables that follow, please refer to the Glossary of terms used in the Portfolio of investments.

PACE Small/Medium Co Value Equity Investments

Portfolio of investments – October 31, 2023 (unaudited) 

Fair valuation summary

The following is a summary of the fair valuations according to the inputs used as of October 31, 2023 in valuing the Portfolio's investments. In the event a Portfolio holds investments for which fair value is measured using the NAV per share practical expedient (or its equivalent), a separate column will be added to the fair value hierarchy table; this is intended to permit reconciliation to the amounts presented in the Portfolio of investments:

Description	Unadjusted quoted prices in active market for identical investments (Level 1)		Other significant observable inputs (Level 2)		Unobservable inputs (Level 3)		Total
Assets
Common stocks	$	244,239,501	$	—	$	—	$	244,239,501
Exchange traded funds		11,809,922		—		—		11,809,922
Investment companies		857,370		—		—		857,370
Investment companies		—		14,666,686		—		14,666,686
Investment of cash collateral from securities loaned		—		2,048,699		—		2,048,699
Total	$	256,906,793	$	16,715,385	$	—	$	273,622,178

At October 31, 2023, there were no transfers in or out of Level 3.

Portfolio footnotes

*	Non–income producing security.
1	Security, or portion thereof, was on loan at the period end.
2	Rates shown reflect yield at October 31, 2023.
3	Includes $7,205,690 of investments in securities on loan, at value plus accrued interest and dividends, if any. The Fund includes cash collateral of $2,048,699 and non-cash collateral of $5,246,756.

PACE Small/Medium Co Growth Equity Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Number of shares		Value
Common stocks: 98.8%
Aerospace & defense: 0.5%
Axon Enterprise, Inc.*		4,617	$	944,130
Spirit AeroSystems Holdings, Inc., Class A*		14,024		316,943
				1,261,073
Air freight & logistics: 0.4%
Forward Air Corp.		15,218		980,191
Automobile components: 0.9%
Cooper-Standard Holdings, Inc.*		1,401		17,400
Modine Manufacturing Co.*		23,469		927,026
Stoneridge, Inc.*		8,233		133,951
Visteon Corp.*		9,199		1,059,081
				2,137,458
Banks: 0.2%
Pathward Financial, Inc.		9,934		449,911
Beverages: 1.0%
Boston Beer Co., Inc., Class A*		1,605		535,990
Celsius Holdings, Inc.*		12,017		1,827,665
				2,363,655
Biotechnology: 4.7%
ACADIA Pharmaceuticals, Inc.*		43,450		980,666
ADMA Biologics, Inc.*		58,125		196,462
Aduro Biotech, Inc.*,1,2		9,389		0
Alector, Inc.*		29,960		155,792
Alkermes PLC*		46,685		1,129,310
AnaptysBio, Inc.*		2,606		42,504
Arcturus Therapeutics Holdings, Inc.*		3,095		59,114
Arcus Biosciences, Inc.*		1,600		25,136
Avita Medical, Inc.*,3		19,782		184,170
Catalyst Pharmaceuticals, Inc.*		47,629		591,076
CytomX Therapeutics, Inc.*,3		46,256		50,882
Enanta Pharmaceuticals, Inc.*		7,657		69,066
Exelixis, Inc.*		67,984		1,399,791
Ionis Pharmaceuticals, Inc.*		7,280		322,286
Ironwood Pharmaceuticals, Inc.*		43,500		390,195
Karyopharm Therapeutics, Inc.*		73,512		63,955
Krystal Biotech, Inc.*		7,140		834,452
MacroGenics, Inc.*,3		7,754		40,476
Neurocrine Biosciences, Inc.*		15,033		1,667,761
PTC Therapeutics, Inc.*		29,885		560,344
Rigel Pharmaceuticals, Inc.*		174,873		141,175
Sarepta Therapeutics, Inc.*		12,014		808,662
Travere Therapeutics, Inc.*		57,812		374,622
Ultragenyx Pharmaceutical, Inc.*		26,239		928,861
Vir Biotechnology, Inc.*		2,900		22,997
Y-mAbs Therapeutics, Inc.*		19,058		101,770
				11,141,525
Broadline retail: 0.9%
Dillard's, Inc., Class A3		2,438		756,877

PACE Small/Medium Co Growth Equity Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
Broadline retail—(continued)
Ollie's Bargain Outlet Holdings, Inc.*		16,588	$	1,281,257
				2,038,134
Building products: 0.9%
Apogee Enterprises, Inc.		16,065		689,510
AZEK Co., Inc.*		9,743		255,267
Gibraltar Industries, Inc.*		11,339		690,091
Tecnoglass, Inc.		18,492		604,319
				2,239,187
Capital markets: 1.3%
Donnelley Financial Solutions, Inc.*		9,022		491,067
FactSet Research Systems, Inc.		2,019		871,986
Perella Weinberg Partners		12,785		125,421
PJT Partners, Inc., Class A		2,550		199,818
StepStone Group, Inc., Class A		7,350		208,005
StoneX Group, Inc.*		7,860		749,215
TPG, Inc.		15,720		434,501
				3,080,013
Chemicals: 0.6%
American Vanguard Corp.		12,205		114,239
Orion SA		24,857		504,597
Scotts Miracle-Gro Co.3		20,874		927,640
				1,546,476
Commercial services & supplies: 3.2%
ACV Auctions, Inc., Class A*		109,030		1,453,370
CECO Environmental Corp.*		67,382		1,090,241
Clean Harbors, Inc.*		3,818		586,712
RB Global, Inc.3		64,998		4,250,869
VSE Corp.		2,854		153,545
				7,534,737
Communications equipment: 0.7%
Cambium Networks Corp.*		4,250		21,165
CommScope Holding Co., Inc.*		125,302		185,447
Extreme Networks, Inc.*		48,316		996,276
Infinera Corp.*,3		124,013		363,358
Viavi Solutions, Inc.*		12,882		100,222
				1,666,468
Construction & engineering: 3.4%
Comfort Systems USA, Inc.		1,209		219,856
Construction Partners, Inc., Class A*		28,773		1,106,322
Dycom Industries, Inc.*		10,793		919,348
Fluor Corp.*		33,966		1,130,728
Limbach Holdings, Inc.*		1,360		40,528
MYR Group, Inc.*		6,470		749,420
Sterling Infrastructure, Inc.*		20,687		1,507,048
WillScot Mobile Mini Holdings Corp.*		59,075		2,328,146
				8,001,396

PACE Small/Medium Co Growth Equity Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
Construction materials: 0.0%†
Eagle Materials, Inc.		500	$	76,955
Consumer finance: 0.7%
FirstCash Holdings, Inc.		1,317		143,448
LendingTree, Inc.*		19,808		262,060
PROG Holdings, Inc.*		14,690		402,359
Regional Management Corp.		940		23,368
SLM Corp.		62,678		814,814
				1,646,049
Diversified consumer services: 3.4%
2U, Inc.*,3		5,600		11,872
Carriage Services, Inc.		6,117		132,127
Chegg, Inc.*		80,112		603,243
Coursera, Inc.*		34,294		594,658
Duolingo, Inc.*		7,594		1,109,104
Grand Canyon Education, Inc.*		37,053		4,384,482
Rover Group, Inc.*		15,000		96,750
Stride, Inc.*		15,434		848,561
Udemy, Inc.*		38,902		347,395
				8,128,192
Diversified telecommunication services: 0.2%
Bandwidth, Inc., Class A*		21,224		225,187
Ooma, Inc.*		32,664		356,364
				581,551
Electrical equipment: 1.0%
Allient, Inc.		2,523		69,635
Babcock & Wilcox Enterprises, Inc.*		3,200		8,416
Enovix Corp.*,3		9,381		83,585
NEXTracker, Inc., Class A*		25,143		873,971
Vertiv Holdings Co.		34,024		1,336,122
				2,371,729
Electronic equipment, instruments & components: 1.4%
Arlo Technologies, Inc.*		9,014		76,529
Belden, Inc.		2,010		142,509
Celestica, Inc.*		28,748		671,266
Climb Global Solutions, Inc.		870		38,698
Cognex Corp.		44,421		1,598,712
Evolv Technologies Holdings, Inc.*		64,113		272,480
FARO Technologies, Inc.*		16,374		210,733
OSI Systems, Inc.*		3,393		353,788
				3,364,715
Energy equipment & services: 1.7%
Atlas Energy Solutions, Inc.		14,546		264,883
Cactus, Inc., Class A		15,116		709,545
Noble Corp. PLC		11,139		520,080
TechnipFMC PLC		28,796		619,690
Tidewater, Inc.*		15,250		1,042,337
Weatherford International PLC*		9,566		890,499
				4,047,034

PACE Small/Medium Co Growth Equity Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
Entertainment: 0.1%
Playtika Holding Corp.*		10,100	$	84,840
Roku, Inc.*		4,703		280,158
				364,998
Financial services: 1.8%
International Money Express, Inc.*		45,695		729,292
Payoneer Global, Inc.*		142,400		824,496
PennyMac Financial Services, Inc.		7,846		527,251
Remitly Global, Inc.*		38,011		1,023,636
WEX, Inc.*		6,624		1,102,764
				4,207,439
Food products: 1.1%
Calavo Growers, Inc.		11,367		288,040
Freshpet, Inc.*		36,450		2,092,230
Mama's Creations, Inc.*		24,908		84,189
Real Good Food Co., Inc.*		35,507		83,086
				2,547,545
Ground transportation: 2.1%
ArcBest Corp.		5,268		573,580
Avis Budget Group, Inc.*		2,413		392,836
Daseke, Inc.*		22,317		99,088
Landstar System, Inc.		8,788		1,448,087
Lyft, Inc., Class A*		75,076		688,447
PAM Transportation Services, Inc.*		5,433		93,828
RXO, Inc.*		27,780		486,428
Saia, Inc.*		2,027		726,659
U-Haul Holding Co.*,3		8,786		431,568
				4,940,521
Health care equipment & supplies: 2.9%
Accuray, Inc.*		8,103		21,392
Glaukos Corp.*		25,243		1,721,573
iRadimed Corp.		19,227		783,308
Neogen Corp.*		49,071		730,667
Omnicell, Inc.*		7,251		257,701
OrthoPediatrics Corp.*		23,492		574,614
Pulmonx Corp.*		20,812		182,938
RxSight, Inc.*		33,238		735,889
Semler Scientific, Inc.*		4,069		118,693
Surmodics, Inc.*		5,556		163,680
Tandem Diabetes Care, Inc.*		16,051		277,682
UFP Technologies, Inc.*		8,982		1,400,473
				6,968,610
Health care providers & services: 7.5%
Addus HomeCare Corp.*		7,948		627,097
AMN Healthcare Services, Inc.*		18,472		1,401,286
Castle Biosciences, Inc.*		19,625		306,543
Chemed Corp.		4,473		2,516,733
Cross Country Healthcare, Inc.*		5,065		117,305
DaVita, Inc.*		16,580		1,280,473

PACE Small/Medium Co Growth Equity Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
Health care providers & services—(continued)
Ensign Group, Inc.		28,548	$	2,757,737
HealthEquity, Inc.*		3,500		250,880
Option Care Health, Inc.*		55,063		1,526,897
Pennant Group, Inc.*		58,369		634,471
PetIQ, Inc.*		36,736		689,535
Privia Health Group, Inc.*		97,717		2,054,011
Progyny, Inc.*		53,773		1,659,435
RadNet, Inc.*		17,654		475,952
U.S. Physical Therapy, Inc.		18,299		1,539,129
				17,837,484
Health care technology: 0.8%
Certara, Inc.*		68,727		837,782
Definitive Healthcare Corp.*		83,240		479,463
Phreesia, Inc.*		39,861		544,501
				1,861,746
Hotels, restaurants & leisure: 1.0%
Bluegreen Vacations Holding Corp.		681		22,820
First Watch Restaurant Group, Inc.*		5,469		91,387
Golden Entertainment, Inc.		1,269		39,796
PlayAGS, Inc.*		25,317		180,763
Red Robin Gourmet Burgers, Inc.*,3		13,755		111,278
SeaWorld Entertainment, Inc.*		16,956		730,465
Super Group SGHC Ltd.*		1,500		5,745
Travel & Leisure Co.		2,328		79,222
Wingstop, Inc.		1,633		298,463
Wyndham Hotels & Resorts, Inc.		500		36,200
Wynn Resorts Ltd.		6,586		578,119
Xponential Fitness, Inc., Class A*		21,856		311,885
				2,486,143
Household durables: 1.4%
Cavco Industries, Inc.*		3,700		923,187
Green Brick Partners, Inc.*		4,350		168,345
Skyline Champion Corp.*		21,701		1,272,330
Sonos, Inc.*		71,780		773,788
TopBuild Corp.*		1,006		230,133
				3,367,783
Independent power and renewable electricity producers: 0.6%
Vistra Corp.		42,886		1,403,230
Insurance: 4.1%
eHealth, Inc.*		4,100		35,178
Fidelis Insurance Holdings Ltd.*		2,050		28,987
Goosehead Insurance, Inc., Class A*		28,367		1,840,167
Kinsale Capital Group, Inc.		13,101		4,374,555
Lincoln National Corp.		29,773		648,158
Oscar Health, Inc., Class A*		4,000		20,480
Ryan Specialty Holdings, Inc.*,3		31,132		1,344,903
Skyward Specialty Insurance Group, Inc.*		45,914		1,292,479

PACE Small/Medium Co Growth Equity Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
Insurance—(continued)
Universal Insurance Holdings, Inc.		11,600	$	181,656
				9,766,563
Interactive media & services: 0.4%
Yelp, Inc.*		12,273		517,798
ZipRecruiter, Inc., Class A*		36,228		385,828
				903,626
IT services: 4.1%
BigCommerce Holdings, Inc.*		46,152		410,291
DigitalOcean Holdings, Inc.*,3		23,523		481,281
Globant SA*		25,773		4,388,884
GoDaddy, Inc., Class A*		13,219		968,027
Grid Dynamics Holdings, Inc.*		86,315		875,234
Squarespace, Inc., Class A*		84,136		2,390,304
Twilio, Inc., Class A*		5,565		285,262
				9,799,283
Leisure products: 0.4%
Funko, Inc., Class A*,3		38,620		297,760
MasterCraft Boat Holdings, Inc.*		14,544		297,279
Solo Brands, Inc., Class A*		2,600		10,010
YETI Holdings, Inc.*		8,647		367,671
				972,720
Life sciences tools & services: 3.2%
Adaptive Biotechnologies Corp.*		11,980		53,191
Codexis, Inc.*		93,432		155,097
Medpace Holdings, Inc.*		17,199		4,173,681
NanoString Technologies, Inc.*,3		38,128		52,617
Quanterix Corp.*		18,036		391,742
Repligen Corp.*		11,349		1,527,121
Stevanato Group SpA		46,947		1,312,169
				7,665,618
Machinery: 2.1%
Energy Recovery, Inc.*		28,540		433,808
Helios Technologies, Inc.		7,392		382,314
Kadant, Inc.		10,306		2,267,320
Kornit Digital Ltd.*		55,788		769,874
Shyft Group, Inc.		21,417		235,159
Symbotic, Inc.*,3		11,593		394,510
Terex Corp.		10,708		490,426
				4,973,411
Marine transportation: 0.3%
Kirby Corp.*		9,320		696,204
Media: 0.4%
Entravision Communications Corp., Class A		11,300		40,454
Gambling.com Group Ltd.*		18,522		240,045
Integral Ad Science Holding Corp.*		47,572		546,127
PubMatic, Inc., Class A*		4,050		45,643
				872,269

PACE Small/Medium Co Growth Equity Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
Metals & mining: 0.4%
Alpha Metallurgical Resources, Inc.		466	$	102,501
Carpenter Technology Corp.		10,298		645,891
Ryerson Holding Corp.		7,755		225,283
				973,675
Oil, gas & consumable fuels: 2.1%
Antero Resources Corp.*		22,639		666,492
APA Corp.		17,321		687,990
CVR Energy, Inc.		21,623		708,153
Dorian LPG Ltd.		6,438		205,823
Matador Resources Co.		18,136		1,118,810
Par Pacific Holdings, Inc.*		29,528		969,109
Range Resources Corp.		16,219		581,289
				4,937,666
Paper & forest products: 0.3%
Sylvamo Corp.		15,014		665,120
Personal care products: 0.7%
elf Beauty, Inc.*		12,341		1,143,147
Medifast, Inc.		5,933		410,326
USANA Health Sciences, Inc.*		5,144		234,309
				1,787,782
Pharmaceuticals: 0.5%
Amphastar Pharmaceuticals, Inc.*		16,660		754,198
Arvinas, Inc.*		3,480		56,098
Esperion Therapeutics, Inc.*,3		94,144		78,026
Ligand Pharmaceuticals, Inc.*		3,185		166,544
Phathom Pharmaceuticals, Inc.*		12,547		116,687
				1,171,553
Professional services: 5.1%
Barrett Business Services, Inc.		2,177		199,108
CBIZ, Inc.*		11,543		599,774
CSG Systems International, Inc.		18,414		862,880
Exponent, Inc.		25,490		1,868,162
Huron Consulting Group, Inc.*		3,482		345,971
Insperity, Inc.		14,221		1,505,151
Kforce, Inc.		7,991		487,771
Paycor HCM, Inc.*,3		58,245		1,256,927
Paylocity Holding Corp.*		19,692		3,532,745
TriNet Group, Inc.*		13,032		1,339,038
Willdan Group, Inc.*		7,368		129,972
				12,127,499
Real estate management & development: 0.4%
Compass, Inc., Class A*		106,295		210,464
DigitalBridge Group, Inc.		14,615		231,648
eXp World Holdings, Inc.3		7,175		95,212
Opendoor Technologies, Inc.*		15,921		30,250
Redfin Corp.*,3		27,211		126,803
RMR Group, Inc., Class A		6,700		150,884
				845,261

PACE Small/Medium Co Growth Equity Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
Semiconductors & semiconductor equipment: 3.1%
ACM Research, Inc., Class A*		47,139	$	641,090
Ambarella, Inc.*		9,875		444,276
Axcelis Technologies, Inc.*		10,012		1,276,530
Credo Technology Group Holding Ltd.*		43,113		613,067
MaxLinear, Inc.*		23,816		362,003
Onto Innovation, Inc.*		6,945		780,410
Power Integrations, Inc.		29,697		2,058,893
Silicon Laboratories, Inc.*		6,694		617,053
SMART Global Holdings, Inc.*		36,558		500,845
				7,294,167
Software: 17.9%
8x8, Inc.*		122,957		292,638
A10 Networks, Inc.		8,200		89,134
Alarm.com Holdings, Inc.*		45,866		2,345,129
American Software, Inc., Class A		14,265		156,487
Appfolio, Inc., Class A*		4,388		823,057
Applied Digital Corp.*,3		18,632		90,924
Arteris, Inc.*		3,126		17,037
AvePoint, Inc.*		51,597		386,462
Blackbaud, Inc.*		15,071		985,643
BlackLine, Inc.*		38,176		1,874,442
Box, Inc., Class A*		52,074		1,294,560
Braze, Inc., Class A*		7,980		339,788
CCC Intelligent Solutions Holdings, Inc.*		200,539		2,159,805
Couchbase, Inc.*		9,713		151,134
CyberArk Software Ltd.*		2,040		333,826
Descartes Systems Group, Inc.*		29,530		2,132,361
DocuSign, Inc.*		8,631		335,573
Domo, Inc., Class B*		29,478		240,540
DoubleVerify Holdings, Inc.*		56,078		1,560,651
Dropbox, Inc., Class A*		61,081		1,606,430
Elastic NV*		14,195		1,065,193
Everbridge, Inc.*		12,761		263,004
Five9, Inc.*		39,709		2,297,960
Freshworks, Inc., Class A*		10,027		179,884
Guidewire Software, Inc.*		14,174		1,277,503
Intapp, Inc.*		15,679		536,222
Kaltura, Inc.*		13,543		23,294
LivePerson, Inc.*		66,912		176,648
Manhattan Associates, Inc.*		4,327		843,678
MeridianLink, Inc.*		3,450		56,649
Model N, Inc.*		54,017		1,301,810
Nutanix, Inc., Class A*		30,864		1,116,968
PowerSchool Holdings, Inc., Class A*		65,469		1,304,143
Qualys, Inc.*		11,301		1,728,488
SentinelOne, Inc., Class A*		9,187		143,593
Smartsheet, Inc., Class A*		30,179		1,193,278

PACE Small/Medium Co Growth Equity Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
Software—(continued)
Sprinklr, Inc., Class A*		14,416	$	195,913
SPS Commerce, Inc.*		27,219		4,364,294
Tenable Holdings, Inc.*		32,284		1,359,479
Varonis Systems, Inc.*		55,114		1,854,035
Vertex, Inc., Class A*		25,245		611,181
Workiva, Inc.*		35,525		3,093,872
Zuora, Inc., Class A*		56,989		422,289
				42,624,999
Specialty retail: 3.3%
Boot Barn Holdings, Inc.*		3,054		212,253
Five Below, Inc.*		26,327		4,580,372
Floor & Decor Holdings, Inc., Class A*,3		31,588		2,602,851
Sleep Number Corp.*		11,812		192,181
Upbound Group, Inc.		7,862		204,884
				7,792,541
Technology hardware, storage & peripherals: 0.6%
Super Micro Computer, Inc.*		6,036		1,445,441
Textiles, apparel & luxury goods: 1.0%
Deckers Outdoor Corp.*		3,291		1,964,925
On Holding AG, Class A*		6,233		160,001
Wolverine World Wide, Inc.		42,959		345,820
				2,470,746
Tobacco: 0.0%†
Vector Group Ltd.		12,100		124,388
Trading companies & distributors: 2.0%
Applied Industrial Technologies, Inc.		4,801		737,001
FTAI Aviation Ltd.		39,353		1,480,066
Global Industrial Co.		600		19,170
GMS, Inc.*		15,827		925,563
Herc Holdings, Inc.		6,935		740,589
Karat Packaging, Inc.		18,630		384,337
SiteOne Landscape Supply, Inc.*		1,041		143,418
Transcat, Inc.*		3,179		286,174
				4,716,318
Total common stocks (cost—$255,729,947)				235,268,798
Short term investments: 1.4%
Investment companies: 1.4%
State Street Institutional U.S. Government Money Market Fund, 5.301% (cost—$3,351,178)		3,351,178		3,351,178
Investment of cash collateral from securities loaned: 1.0%
Money market funds: 1.0%
State Street Navigator Securities Lending Government Money Market Portfolio, 5.404%4 (cost $2,289,952)		2,289,952		2,289,952
Total Investments (cost—$261,371,077)5—101.2%				240,909,928
Liabilities in excess of other assets—(1.2)%				(2,922,250	)
Net Assets—100.0%			$	237,987,678

For a listing of defined portfolio acronyms that are used throughout the Portfolio of investments as well as the tables that follow, please refer to the Glossary of terms used in the Portfolio of investments.

PACE Small/Medium Co Growth Equity Investments

Portfolio of investments – October 31, 2023 (unaudited) 

Fair valuation summary

The following is a summary of the fair valuations according to the inputs used as of October 31, 2023 in valuing the Portfolio's investments. In the event a Portfolio holds investments for which fair value is measured using the NAV per share practical expedient (or its equivalent), a separate column will be added to the fair value hierarchy table; this is intended to permit reconciliation to the amounts presented in the Portfolio of investments:

Description	Unadjusted quoted prices in active market for identical investments (Level 1)		Other significant observable inputs (Level 2)		Unobservable inputs (Level 3)		Total
Assets
Common stocks	$	235,268,798	$	—	$	0	$	235,268,798
Investment companies		—		3,351,178		—		3,351,178
Investment of cash collateral from securities loaned		—		2,289,952		—		2,289,952
Total	$	235,268,798	$	5,641,130	$	0	$	240,909,928

At October 31, 2023, there were no transfers in or out of Level 3.

Portfolio footnotes

†	Amount represents less than 0.05% or (0.05)%.
*	Non–income producing security.
1	Security fair valued by the Valuation Committee under the direction of the Board of Trustees.
2	Significant unobservable inputs were used in the valuation of this security; i.e. Level 3.
3	Security, or portion thereof, was on loan at the period end.
4	Rates shown reflect yield at October 31, 2023.
5	Includes $8,820,055 of investments in securities on loan, at value plus accrued interest and dividends, if any. The Fund includes cash collateral of $2,289,952 and non-cash collateral of $6,719,786.

PACE International Equity Investments

Portfolio statistics and industry diversification – (unaudited)¹ 

As a percentage of net assets as of October 31, 2023

Common stocks
Aerospace & defense	1.7	%
Air freight & logistics	0.9
Automobile components	1.0
Automobiles	4.9
Banks	13.7
Beverages	0.6
Biotechnology	1.2
Broadline retail	1.0
Building products	1.5
Capital markets	1.0
Chemicals	2.2
Commercial services & supplies	1.5
Construction & engineering	1.4
Construction materials	1.0
Consumer staples distribution & retail	2.0
Containers & packaging	0.0	†
Diversified consumer services	0.1
Diversified telecommunication services	1.4
Electric utilities	2.4
Electrical equipment	0.9
Electronic equipment, instruments & components	1.7
Energy equipment & services	0.4
Entertainment	0.9
Financial services	0.6
Food products	2.0
Gas utilities	1.7
Ground transportation	0.7
Health care equipment & supplies	2.5
Health care providers & services	0.2
Health care technology	0.0	†
Hotels, restaurants & leisure	0.9
Household durables	2.1
Independent power and renewable electricity producers	0.3
Industrial conglomerates	2.4
Industrial REITs	0.0	†
Insurance	6.5
Interactive media & services	0.2
IT services	2.7
Life sciences tools & services	0.3
Machinery	4.1
Marine transportation	0.4
Media	0.8
Metals & mining	2.1
Multi-utilities	0.1
Office REITs	0.0	†
Oil, gas & consumable fuels	4.1
Passenger airlines	0.7
Personal care products	1.0
Pharmaceuticals	10.2
Professional services	2.5

PACE International Equity Investments

Portfolio statistics and industry diversification – (unaudited)¹ 

Real estate management & development	0.3	%
Retail REITs	0.0	†
Semiconductors & semiconductor equipment	4.7
Software	2.9
Specialty retail	1.8
Technology hardware, storage & peripherals	1.8
Textiles, apparel & luxury goods	3.6
Tobacco	1.8
Trading companies & distributors	1.2
Wireless telecommunication services	0.6
Total common stocks	111.2
Preferred stocks
Automobiles	0.1
Warrant	0.0
Short-term investments	0.5
Investment of cash collateral from securities loaned	2.9
Total investments before investments sold short	114.7
Investments sold short
Common stocks
Automobiles	(0.1	)
Banks	(0.2	)
Beverages	(0.6	)
Biotechnology	(0.1	)
Broadline retail	(0.1	)
Building products	(0.0	)†
Capital markets	(0.3	)
Chemicals	(0.7	)
Communications equipment	(0.2	)
Construction & engineering	(0.1	)
Consumer staples distribution & retail	(0.2	)
Distributors	(0.1	)
Diversified REITs	(0.1	)
Diversified telecommunication services	(0.2	)
Electric utilities	(0.3	)
Electrical equipment	(0.7	)
Electronic equipment, instruments & components	(0.3	)
Entertainment	(0.1	)
Financial services	(0.8	)
Food products	(0.3	)
Ground transportation	(0.4	)
Health care equipment & supplies	(0.4	)
Hotels, restaurants & leisure	(0.2	)
Household durables	(0.1	)
Independent power and renewable electricity producers	(0.0	)†
Industrial conglomerates	(0.3	)
Industrial REITs	(0.1	)
Insurance	(0.2	)
Leisure products	(0.5	)

PACE International Equity Investments

Portfolio statistics and industry diversification – (unaudited)¹  

Life sciences tools & services	(0.2	)%
Machinery	(1.5	)
Media	(0.1	)
Metals & mining	(0.8	)
Multi-utilities	(0.0	)†
Office REITs	(0.1	)
Oil, gas & consumable fuels	(0.1	)
Paper & forest products	(1.1	)
Personal care products	(0.6	)
Pharmaceuticals	(0.3	)
Professional services	(0.2	)
Real estate management & development	(0.2	)
Specialty retail	(0.3	)
Trading companies & distributors	(0.0	)†
Total common stocks	(13.2	)
Preferred stocks
Life sciences tools & services	(0.1	)
Total investments sold short	(13.3	)
Total investments	101.4
Liabilities in excess of other assets	(1.4	)
Net assets	100.0	%

†	Amount represents less than 0.05% or (0.05)%.
1	The portfolio is actively managed and its composition will vary over time.

PACE International Equity Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Number of shares		Value
Common stocks—111.2%
Australia—4.2%
Aurizon Holdings Ltd.1		1,783,647	$	3,884,985
BHP Group Ltd.2		90,157		2,552,117
BlueScope Steel Ltd.		166,574		1,996,799
Brambles Ltd.		3,862		32,231
Cochlear Ltd.		3,948		605,126
Computershare Ltd.		232,859		3,674,967
Fortescue Metals Group Ltd.2		14,060		200,015
Glencore PLC2		147,674		782,203
IDP Education Ltd.1		30,924		427,257
Insurance Australia Group Ltd.		513,630		1,852,939
Lendlease Corp. Ltd.1,2		296,005		1,172,325
Lottery Corp. Ltd.		68,295		197,138
Medibank Pvt Ltd.		1,180,908		2,577,069
Northern Star Resources Ltd.2		229,892		1,683,449
Orica Ltd.2		87,363		816,313
QBE Insurance Group Ltd.		201,175		1,994,872
Telstra Group Ltd.2		82,915		201,059
Wesfarmers Ltd.2		35,782		1,151,244
WiseTech Global Ltd.1		1,205		44,864
Woolworths Group Ltd.2		127,383		2,851,439
				28,698,411
Austria—0.1%
OMV AG		13,416		588,402
Burkina Faso—0.1%
Endeavour Mining PLC		25,164		519,187
Canada—1.9%
Constellation Software, Inc.		2,949		5,911,844
Fairfax Financial Holdings Ltd.		7,986		6,645,815
				12,557,659
China—1.5%
Alibaba Group Holding Ltd., ADR*		22,922		1,891,982
BeiGene Ltd., ADR*		10,257		1,910,674
Prosus NV		125,784		3,526,207
Wuxi Biologics Cayman, Inc.*,3		363,404		2,259,551
Xinyi Glass Holdings Ltd.		424,000		487,184
				10,075,598
Denmark—4.3%
AP Moller - Maersk AS, Class B2		1,644		2,739,283
Carlsberg AS, Class B2		12,540		1,494,431
Coloplast AS, Class B		27,634		2,881,792
Genmab AS*		15,956		4,510,487
Novo Nordisk AS, ADR		65,442		6,319,734
Novo Nordisk AS, Class B		112,736		10,876,342
				28,822,069
Finland—0.9%
Metso OYJ1		57,476		506,388
Nordea Bank Abp		463,855		4,885,421

PACE International Equity Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
Finland—(continued)
Wartsila OYJ Abp1		87,889	$	1,048,823
				6,440,632
France—8.3%
Air Liquide SA2		4,611		790,105
AXA SA2		53,493		1,585,020
Bouygues SA		155,177		5,458,973
Bureau Veritas SA		33,122		754,445
Capgemini SE2		13,051		2,306,488
Cie de Saint-Gobain SA2		70,050		3,813,113
Covivio SA2		6,376		273,239
Dassault Aviation SA		2,776		551,839
Dassault Systemes SE		79,922		3,292,257
Engie SA2		58,390		928,686
Hermes International SCA2		2,076		3,873,453
Kering SA		26,381		10,729,192
Klepierre SA2		2,357		57,237
Legrand SA2		790		68,340
L'Oreal SA2		10,535		4,428,181
LVMH Moet Hennessy Louis Vuitton SE2		7,691		5,506,220
Publicis Groupe SA2		8,586		653,766
Safran SA		39,419		6,158,015
SEB SA		4,402		435,298
Thales SA2		4,591		677,529
TotalEnergies SE2		31,246		2,089,029
Vinci SA2		16,623		1,838,079
				56,268,504
Germany—5.5%
Allianz SE, Registered Shares2		37,293		8,735,605
Bayerische Motoren Werke AG2		6,510		605,458
Bechtle AG		10,484		468,559
Continental AG		55,690		3,635,942
Deutsche Post AG2		93,106		3,635,183
Evonik Industries AG		307,933		5,667,470
Fresenius Medical Care AG & Co. KGaA		34,178		1,135,604
Fresenius SE & Co. KGaA		10,355		266,365
GEA Group AG		10,108		345,698
Hannover Rueck SE		4,012		885,903
Heidelberg Materials AG		51,394		3,730,862
Mercedes-Benz Group AG2		53,168		3,128,100
MTU Aero Engines AG		1,312		246,599
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen, Registered Shares		7,157		2,872,161
Nemetschek SE		3,359		250,996
Rational AG		1,140		650,118
Telefonica Deutschland Holding AG		72,254		122,837
Vonovia SE2		14,055		323,575

PACE International Equity Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
Germany—(continued)
Wacker Chemie AG		2,650	$	325,216
				37,032,251
Hong Kong—1.8%
AIA Group Ltd.2		9,200		79,891
Futu Holdings Ltd., ADR*,2		5,871		325,547
Hong Kong & China Gas Co. Ltd.2		103,000		71,699
Hong Kong Exchanges & Clearing Ltd.2		106,627		3,730,094
Jardine Matheson Holdings Ltd.		91,000		3,687,421
New World Development Co. Ltd.2		39,000		71,578
Swire Pacific Ltd., Class A2		25,000		159,696
WH Group Ltd.3		6,398,189		3,821,209
				11,947,135
India—1.3%
HDFC Bank Ltd., ADR		87,978		4,975,156
Tata Consultancy Services Ltd.		99,665		4,034,797
				9,009,953
Indonesia—0.7%
Bank Rakyat Indonesia Persero Tbk. PT		14,694,390		4,594,699
Ireland—0.1%
Kingspan Group PLC		10,477		705,090
Smurfit Kappa Group PLC		949		30,934
				736,024
Israel—1.6%
Azrieli Group Ltd.		3,893		167,622
Bank Hapoalim BM		342,483		2,449,762
Bank Leumi Le-Israel BM		386,918		2,492,106
Israel Discount Bank Ltd., Class A		494,587		2,173,875
Mizrahi Tefahot Bank Ltd.		35,916		1,111,658
Teva Pharmaceutical Industries Ltd., ADR*		123,714		1,061,466
Wix.com Ltd.*		13,997		1,118,360
				10,574,849
Italy—5.4%
Assicurazioni Generali SpA		147,706		2,933,979
Coca-Cola HBC AG		92,079		2,390,523
Enel SpA		1,287,605		8,173,177
Eni SpA		215,175		3,517,609
Ferrari NV		15,451		4,677,078
Intesa Sanpaolo SpA		1,392,744		3,629,200
Moncler SpA		41,248		2,142,305
Prysmian SpA2		841		31,493
Snam SpA1		1,388,267		6,365,955
UniCredit SpA		98,107		2,459,504
				36,320,823
Japan—29.0%
AGC, Inc.		15,200		517,090

PACE International Equity Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
Japan—(continued)
ANA Holdings, Inc.*		75,100	$	1,474,352
Asahi Kasei Corp.2		21,700		133,407
Astellas Pharma, Inc.		109,400		1,383,896
Bridgestone Corp.2		19,300		730,412
Canon, Inc.2		181,900		4,300,239
Central Japan Railway Co.		20,500		461,422
Chubu Electric Power Co., Inc.		199,300		2,408,370
Dai-ichi Life Holdings, Inc.		51,700		1,092,163
Daiwa Securities Group, Inc.2		2,300		13,263
ENEOS Holdings, Inc.		265,700		984,529
FANUC Corp.		104,745		2,599,393
Fast Retailing Co. Ltd.2		1,800		398,514
Fuji Electric Co. Ltd.		53,900		2,052,222
FUJIFILM Holdings Corp.		101,700		5,562,762
Fujitsu Ltd.		58,900		7,630,345
GMO Payment Gateway, Inc.2		13,500		539,180
Hankyu Hanshin Holdings, Inc.		3,700		116,415
Hitachi Ltd.		66,600		4,221,546
Honda Motor Co. Ltd.		1,038,300		10,641,300
Hoya Corp.2		11,900		1,145,596
Inpex Corp.		30,300		439,679
Isuzu Motors Ltd.		239,600		2,671,696
ITOCHU Corp.2		11,800		425,048
Japan Airlines Co. Ltd.		61,500		1,130,602
Japan Post Bank Co. Ltd.		399,300		3,701,192
Japan Post Holdings Co. Ltd.2		149,400		1,322,370
Japan Tobacco, Inc.2		173,500		4,038,882
JFE Holdings, Inc.2		12,600		175,554
Kajima Corp.		36,000		594,986
Kao Corp.		52,900		1,929,998
KDDI Corp.2		36,000		1,076,930
Keyence Corp.2		10,886		4,214,171
Kyocera Corp.		72,100		3,553,910
Lasertec Corp.		4,800		792,865
LY Corp.2		484,000		1,233,951
M3, Inc.		18,700		288,002
Makita Corp.		41,200		1,064,890
Marubeni Corp.2		125,100		1,829,184
Mazda Motor Corp.		276,700		2,674,579
MINEBEA MITSUMI, Inc.		187,200		2,935,163
Mitsubishi Corp.2		29,400		1,370,497
Mitsubishi Electric Corp.		216,500		2,482,499
Mitsubishi Heavy Industries Ltd.2		23,400		1,205,209
Mitsubishi UFJ Financial Group, Inc.2		287,200		2,409,363
Mitsui Chemicals, Inc.2		19,200		483,926
Mizuho Financial Group, Inc.		85,400		1,449,954
MS&AD Insurance Group Holdings, Inc.		15,200		556,936
NEC Corp.		25,600		1,232,655

PACE International Equity Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
Japan—(continued)
Nexon Co. Ltd.		122,500	$	2,247,783
NIDEC Corp.2		38,700		1,419,557
Nintendo Co. Ltd.2		25,900		1,070,043
NIPPON EXPRESS HOLDINGS, Inc.		34,000		1,747,443
Nippon Steel Corp.2		91,600		1,975,706
Nippon Telegraph & Telephone Corp.		3,114,700		3,665,300
Nissan Motor Co. Ltd.		414,600		1,595,373
Nitto Denko Corp.2		27,000		1,747,056
Obayashi Corp.		49,900		427,434
Ono Pharmaceutical Co. Ltd.		111,000		1,916,912
Open House Group Co. Ltd.		15,600		514,181
Oriental Land Co. Ltd.2		14,700		475,477
Osaka Gas Co. Ltd.2		70,500		1,329,473
Otsuka Corp.		13,800		553,306
Persol Holdings Co. Ltd.		775,000		1,162,046
Recruit Holdings Co. Ltd.2		224,356		6,432,892
Renesas Electronics Corp.*,1		148,500		1,950,639
Ricoh Co. Ltd.		125,600		1,018,002
SCSK Corp.		66,800		1,140,293
Secom Co. Ltd.		77,700		5,396,638
Sekisui Chemical Co. Ltd.		284,100		3,891,281
Sekisui House Ltd.		24,600		481,736
SG Holdings Co. Ltd.		31,700		449,335
Shimadzu Corp.		91,800		2,170,730
Shimizu Corp.		39,200		278,966
Shin-Etsu Chemical Co. Ltd.2		5,400		161,478
Shionogi & Co. Ltd.		76,300		3,552,879
SoftBank Corp.2		137,200		1,551,301
Sony Group Corp.		89,000		7,399,357
Subaru Corp.		95,400		1,651,402
SUMCO Corp.		154,800		2,000,349
Sumitomo Corp.		149,800		2,944,717
Sumitomo Metal Mining Co. Ltd.		116,100		3,261,476
Sumitomo Mitsui Financial Group, Inc.		63,700		3,070,848
Suzuki Motor Corp.		125,163		4,857,827
Takeda Pharmaceutical Co. Ltd.		207,200		5,624,387
Tokio Marine Holdings, Inc.		209,100		4,678,031
Tokyo Electron Ltd.		3,900		515,337
Tokyo Gas Co. Ltd.		169,700		3,810,980
Tosoh Corp.2		84,400		1,033,412
Toyota Industries Corp.		79,100		5,862,473
USS Co. Ltd.		57,100		998,045
Welcia Holdings Co. Ltd.		2,800		46,412
Yokogawa Electric Corp.		98,100		1,781,027
				195,550,447
Netherlands—6.8%
Adyen NV*,1,3		4,232		2,854,424
ASM International NV		5,762		2,377,863

PACE International Equity Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
Netherlands—(continued)
ASML Holding NV2		15,285	$	9,188,126
ASML Holding NV, Registered Shares		9,427		5,644,982
Koninklijke Philips NV		446,760		8,498,480
NN Group NV		33,466		1,073,334
Shell PLC2		416,488		13,422,086
Wolters Kluwer NV1,2		21,415		2,747,673
				45,806,968
New Zealand—0.1%
Xero Ltd.*		14,535		993,718
Norway—1.0%
Aker BP ASA		30,662		883,728
DNB Bank ASA		261,781		4,723,013
Gjensidige Forsikring ASA		29,934		448,913
Norsk Hydro ASA2		97,380		555,330
				6,610,984
Portugal—0.3%
Jeronimo Martins SGPS SA		101,295		2,335,343
Singapore—5.0%
CapitaLand Ascendas REIT		7,600		14,440
DBS Group Holdings Ltd.		422,443		10,148,481
Genting Singapore Ltd.		2,607,400		1,638,112
Grab Holdings Ltd., Class A*		76,074		233,547
Jardine Cycle & Carriage Ltd.		26,800		552,074
Oversea-Chinese Banking Corp. Ltd.		393,600		3,649,110
Sea Ltd., ADR*		71,772		2,992,892
Singapore Airlines Ltd.1		495,400		2,212,090
Singapore Exchange Ltd.		29,300		202,863
Singapore Telecommunications Ltd.		1,587,100		2,757,862
United Overseas Bank Ltd.		463,998		9,152,216
				33,553,687
Spain—2.6%
Acciona SA		3,760		474,037
ACS Actividades de Construccion y Servicios SA		28,607		1,034,542
Banco Bilbao Vizcaya Argentaria SA		89,269		702,300
Banco Santander SA1		2,184,636		8,034,946
Grifols SA*		132,344		1,485,072
Iberdrola SA2		27,459		305,399
Industria de Diseno Textil SA1,2		152,488		5,263,576
				17,299,872
Sweden—3.3%
Alfa Laval AB		39,824		1,290,567
Assa Abloy AB, Class B		226,050		4,818,272
Atlas Copco AB, Class A2		305,348		3,953,957
Epiroc AB, Class A2		2,118		34,893
H & M Hennes & Mauritz AB, Class B1		58,124		780,877

PACE International Equity Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
Sweden—(continued)
Skandinaviska Enskilda Banken AB, Class A		212,668	$	2,373,271
SKF AB, Class B		38,359		621,894
Swedbank AB, Class A		17,066		280,280
Telia Co. AB1		1,386,692		2,939,711
Volvo AB, Class B2		264,153		5,234,242
Volvo Car AB, Class B*,1		54,628		188,417
				22,516,381
Switzerland—5.2%
ABB Ltd., Registered Shares2		3,294		110,671
Alcon, Inc.2		53,517		3,830,540
Cie Financiere Richemont SA, Class A, Registered Shares2		16,946		1,999,212
Logitech International SA, Registered Shares2		15,493		1,219,475
Novartis AG, Registered Shares2		160,044		14,983,248
Partners Group Holding AG2		1,839		1,947,250
Sandoz Group AG*		67,812		1,763,045
SGS SA, Registered Shares		375		30,626
Sika AG, Registered Shares2		14,588		3,491,045
Swiss Prime Site AG, Registered Shares2		1,155		107,355
Temenos AG, Registered Shares1		67,068		4,831,952
Zurich Insurance Group AG2		979		465,018
				34,779,437
Taiwan—1.2%
Taiwan Semiconductor Manufacturing Co. Ltd.		213,000		3,478,824
Taiwan Semiconductor Manufacturing Co. Ltd., ADR		52,244		4,509,179
				7,988,003
United Kingdom—12.3%
abrdn PLC2		76,363		145,784
Ashtead Group PLC		25,659		1,471,606
Associated British Foods PLC1		212,758		5,248,324
AstraZeneca PLC2		40,994		5,132,597
BAE Systems PLC2		233,013		3,133,177
Barratt Developments PLC		80,839		407,687
BP PLC		968,723		5,915,035
British American Tobacco PLC2		10,796		322,503
CK Hutchison Holdings Ltd.		1,161,000		5,877,311
Compass Group PLC2		91,115		2,297,133
DCC PLC		20,063		1,114,580
HSBC Holdings PLC2		793,494		5,729,357
Imperial Brands PLC2		376,244		8,015,563
InterContinental Hotels Group PLC		18,266		1,294,375
Kingfisher PLC		1,720,623		4,393,638
Lloyds Banking Group PLC		16,659,432		8,108,124
M&G PLC2		90,916		219,547

PACE International Equity Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
United Kingdom—(continued)
NatWest Group PLC		58,979	$	128,327
Persimmon PLC		92,966		1,151,291
RELX PLC2		46,979		1,640,868
Rolls-Royce Holdings PLC*		284,630		749,210
Smiths Group PLC		31,104		610,124
SSE PLC1		257,648		5,120,382
Taylor Wimpey PLC		23,923		32,311
Tesco PLC		2,488,672		8,166,721
Unilever PLC2		4,896		231,878
Vodafone Group PLC2		1,609,489		1,481,595
Wise PLC, Class A*,2		35,859		291,453
WPP PLC		569,251		4,901,944
				83,332,445
United States—6.7%
Aptiv PLC*		28,812		2,512,406
Atlassian Corp., Class A*		20,775		3,752,796
Brookfield Renewable Corp., Class A1		76,154		1,733,265
Experian PLC		21,786		660,961
GSK PLC		401,930		7,165,110
James Hardie Industries PLC, CDI*,2		118,432		2,954,809
Monday.com Ltd.*		1,000		129,990
Nestle SA, Registered Shares2		38,744		4,178,103
Newmont Corp.*		12,958		496,580
Roche Holding AG2		10,513		2,709,301
Sanofi SA		69,052		6,270,352
SolarEdge Technologies, Inc.*		17,412		1,322,441
Swiss Re AG		35,613		3,891,176
Tenaris SA		161,736		2,562,121
Waste Connections, Inc.		38,448		4,979,016
				45,318,427
Total common stocks (cost—$720,315,259)				750,271,908
Preferred stocks—0.1%
Germany—0.1%
Porsche Automobil Holding SE (cost $1,054,768)		17,742		794,098

	Number of shares
Warrant: 0.0%†
Canada: 0.0%†
Constellation Software, Inc. expires 03/31/40*,1,6		2,948	0

PACE International Equity Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Number of shares			Value
Short-term investments: 0.5%
Investment companies: 0.5%
State Street Institutional U.S. Government Money Market Fund, 5.301%4  (cost $3,200,677)		3,200,677		$	3,200,677
Investment of cash collateral from securities loaned—2.9%
Money market funds—2.9%
State Street Navigator Securities Lending Government Money Market Portfolio, 5.404%4  (cost $19,415,292)		19,415,292			19,415,292
Total investments before investments sold short (cost—743,985,996)—114.7					773,681,975
Investments sold short: (13.3)%
Common stocks—(13.2)%
Australia—(0.6)%
Commonwealth Bank of Australia		(4,266	)		(262,427	)
Goodman Group		(10,089	)		(133,496	)
Mineral Resources Ltd.		(48,992	)		(1,805,709	)
Mirvac Group		(190,260	)		(220,750	)
Reece Ltd.		(28,948	)		(322,762	)
Santos Ltd.		(21,718	)		(105,972	)
Treasury Wine Estates Ltd.		(102,451	)		(789,298	)
Washington H Soul Pattinson & Co. Ltd.		(20,603	)		(438,923	)
					(4,079,337	)
Austria—(0.1)%
Mondi PLC		(39,760	)		(643,138	)
voestalpine AG		(4,055	)		(101,257	)
					(744,395	)
Belgium—(0.6)%
D'ieteren Group		(4,771	)		(708,688	)
Groupe Bruxelles Lambert NV		(17,680	)		(1,293,125	)
Sofina SA		(4,322	)		(821,069	)
Solvay SA		(12,988	)		(1,373,034	)
					(4,195,916	)
China—(0.1)%
Wilmar International Ltd.		(324,300	)		(843,110	)
Denmark—(0.5)%
Danske Bank AS		(13,735	)		(322,206	)
Novozymes AS, Class B		(646	)		(29,033	)
Vestas Wind Systems AS		(128,878	)		(2,793,400	)
					(3,144,639	)

PACE International Equity Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Number of shares			Value
Investments sold short—(continued)
Common stocks—(continued)
Finland—(0.9)%
Neste OYJ		(14,564	)	$	(489,466	)
Nokia OYJ		(440,859	)		(1,468,361	)
Stora Enso OYJ, Class R		(56,186	)		(675,265	)
UPM-Kymmene OYJ		(97,674	)		(3,289,261	)
					(5,922,353	)
France—(0.6)%
BioMerieux		(19,776	)		(1,898,742	)
Remy Cointreau SA		(7,805	)		(886,809	)
Renault SA		(17,337	)		(608,255	)
Societe Generale SA		(32,987	)		(741,276	)
					(4,135,082	)
Germany—(0.3)%
Siemens Energy AG		(199,872	)		(1,777,047	)
Hong Kong—(0.6)%
CK Infrastructure Holdings Ltd.		(55,500	)		(257,245	)
Henderson Land Development Co. Ltd.		(24,000	)		(62,795	)
MTR Corp. Ltd.		(104,500	)		(390,640	)
Power Assets Holdings Ltd.		(204,000	)		(975,288	)
Prudential PLC		(127,535	)		(1,333,554	)
Sino Land Co. Ltd.		(376,851	)		(376,221	)
Sun Hung Kai Properties Ltd.		(37,500	)		(385,076	)
Wharf Real Estate Investment Co. Ltd.		(48,000	)		(167,906	)
					(3,948,725	)
Ireland—(0.1)%
Kerry Group PLC, Class A		(9,511	)		(734,666	)
Italy—(0.3)%
Davide Campari-Milano NV		(92,300	)		(1,020,263	)
Telecom Italia SpA		(4,258,137	)		(1,100,995	)
					(2,121,258	)
Japan—(5.3)%
Asahi Intecc Co. Ltd.		(8,600	)		(144,503	)
Azbil Corp.		(3,100	)		(91,601	)
CyberAgent, Inc.		(181,600	)		(953,300	)
Daiwa House REIT Investment Corp.		(263	)		(465,444	)
Eisai Co. Ltd.		(38,400	)		(2,034,368	)
FANUC Corp.		(161,400	)		(4,005,366	)
Hamamatsu Photonics KK		(27,900	)		(1,036,290	)
Ibiden Co. Ltd.		(4,300	)		(183,337	)
JSR Corp.		(60,800	)		(1,627,369	)
Kao Corp.		(11,900	)		(434,158	)
Keisei Electric Railway Co. Ltd.		(56,000	)		(2,109,499	)
Kobe Bussan Co. Ltd.		(13,500	)		(334,099	)
Konami Group Corp.		(18,900	)		(979,060	)
Kose Corp.		(17,000	)		(1,126,267	)
Kubota Corp.		(73,900	)		(993,899	)
Kurita Water Industries Ltd.		(49,300	)		(1,497,902	)

PACE International Equity Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Number of shares			Value
Investments sold short—(continued)
Common stocks—(continued)
Japan—(continued)
MatsukiyoCocokara & Co.		(38,400	)	$	(673,604	)
Mitsui Fudosan Co. Ltd.		(20,000	)		(433,497	)
Nippon Building Fund, Inc.		(100	)		(401,793	)
Nippon Prologis REIT, Inc.		(234	)		(416,374	)
Nissin Foods Holdings Co. Ltd.		(400	)		(34,803	)
Nitori Holdings Co. Ltd.		(20,600	)		(2,230,872	)
Nomura Holdings, Inc.		(104,200	)		(402,567	)
Olympus Corp.		(75,100	)		(1,002,987	)
Rakuten Group, Inc.		(137,900	)		(510,081	)
Resona Holdings, Inc.		(49,000	)		(261,823	)
Sharp Corp.		(77,700	)		(485,797	)
Shimano, Inc.		(10,300	)		(1,482,232	)
Shiseido Co. Ltd.		(46,500	)		(1,474,769	)
Sumitomo Chemical Co. Ltd.		(82,500	)		(209,695	)
Sumitomo Metal Mining Co. Ltd.		(85,600	)		(2,404,671	)
Taisei Corp.		(5,800	)		(196,694	)
TOTO Ltd.		(1,000	)		(24,112	)
Yamaha Corp.		(60,400	)		(1,613,279	)
Yaskawa Electric Corp.		(104,600	)		(3,423,885	)
					(35,699,997	)
Macau—(0.2)%
Sands China Ltd.		(391,600	)		(1,054,207	)
Netherlands—(0.7)%
Aegon Ltd.		(30,060	)		(146,190	)
Argenx SE		(876	)		(412,054	)
Heineken NV		(15,573	)		(1,399,132	)
JDE Peet's NV		(16,381	)		(454,933	)
OCI NV		(45,691	)		(1,064,636	)
Randstad NV		(22,841	)		(1,182,816	)
					(4,659,761	)
New Zealand—(0.1)%
Mercury NZ Ltd.		(192,256	)		(661,349	)
Singapore—(0.3)%
Keppel Corp. Ltd.		(470,600	)		(2,136,215	)
Keppel REIT		(94,120	)		(54,652	)
UOL Group Ltd.		(35,400	)		(152,462	)
					(2,343,329	)
Spain—(0.0)%†
EDP Renovaveis SA		(2,060	)		(33,139	)

PACE International Equity Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Number of shares			Value
Investments sold short—(continued)
Common stocks—(continued)
Sweden—(1.2)%
Boliden AB		(30,844	)	$	(790,629	)
EQT AB		(40,503	)		(739,982	)
Hexagon AB, Class B		(107,024	)		(872,206	)
Industrivarden AB, Class C		(11,894	)		(306,738	)
Investor AB, Class B		(142,363	)		(2,613,371	)
L E Lundbergforetagen AB, Class B		(6,174	)		(252,146	)
Svenska Cellulosa AB SCA, Class B		(192,819	)		(2,645,757	)
					(8,220,829	)
Switzerland—(0.1)%
Bachem Holding AG		(9,951	)		(722,872	)
EMS-Chemie Holding AG, Registered Shares		(190	)		(129,971	)
					(852,843	)
United Kingdom—(0.3)%
Berkeley Group Holdings PLC		(6,607	)		(324,778	)
Croda International PLC		(8,890	)		(473,803	)
London Stock Exchange Group PLC		(6,904	)		(696,579	)
National Grid PLC		(2,729	)		(32,538	)
Ocado Group PLC		(32,802	)		(186,155	)
Phoenix Group Holdings PLC		(7,760	)		(42,865	)
					(1,756,718	)
United States—(0.3)%
Ferrovial SE		(10,491	)		(315,738	)
Haleon PLC		(272,140	)		(1,090,760	)
QIAGEN NV		(16,704	)		(622,526	)
					(2,029,024	)
Total common stocks (cost—$(101,652,297))					(88,957,724	)
Preferred stocks: (0.1)%
Sartorius AG		(2,596	)		(650,661	)
Total preferred stocks (cost—$(887,859))					(650,661	)
Total investments sold short (proceeds—$(102,540,156))					(89,608,385	)
Total investments (cost $641,445,840)5—101.4%					684,073,590
Liabilities in excess of other assets—(1.4)%					(9,370,885	)
Net assets—100.0%				$	674,702,705

For a listing of defined portfolio acronyms that are used throughout the Portfolio of investments as well as the tables that follow, please refer to the Glossary of terms used in the Portfolio of investments.

PACE International Equity Investments

Portfolio of investments – October 31, 2023 (unaudited) 

Fair valuation summary

The following is a summary of the fair valuations according to the inputs used as of October 31, 2023 in valuing the Portfolio's investments. In the event a Portfolio holds investments for which fair value is measured using the NAV per share practical expedient (or its equivalent), a separate column will be added to the fair value hierarchy table; this is intended to permit reconciliation to the amounts presented in the Portfolio of investments:

Description	Unadjusted quoted prices in active market for identical investments (Level 1)		Other significant observable inputs (Level 2)			Unobservable inputs (Level 3)		Total
Assets
Common stocks	$	60,230,717	$	690,041,191		$	—	$	750,271,908
Preferred stocks		—		794,098			—		794,098
Warrant		—		—			0		0
Investment companies		—		3,200,677			—		3,200,677
Investment of cash collateral from securities loaned		—		19,415,292			—		19,415,292
Total	$	60,230,717	$	713,451,258		$	0	$	773,681,975
Liabilities
Investments sold short
Common stocks		—		(88,957,724	)		—		(88,957,724	)
Preferred stocks		—		(650,661	)		—		(650,661	)
Total	$	—	$	(89,608,385	)	$	—	$	(89,608,385	)

At October 31, 2023, there were no transfers in or out of Level 3.

Portfolio footnotes

† Amount represents less than 0.05% or (0.05)%.

* Non–income producing security.

1 Security, or portion thereof, was on loan at the period end.

2 Security, or portion thereof, pledged as collateral for investments sold short.

3 Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933. These securities are considered liquid, unless noted otherwise, and may be resold in transactions exempt from registrations, normally to qualified institutional buyers. Securities exempt from registration pursuant to Rule 144A, in the amount of $8,935,184, represented 1.3% of the Portfolios net assets at period end.

4 Rates shown reflect yield at October 31, 2023.

5 Includes $28,658,406 of investments in securities on loan, at value plus accrued interest and dividends, if any. The Fund includes cash collateral of $19,415,292 and non-cash collateral of $10,986,231.

6 Security fair valued by the Valuation Committee under the direction of the Board of Trustees.

PACE International Emerging Markets Equity Investments

Portfolio statistics and industry diversification – (unaudited)¹ 

As a percentage of net assets as of October 31, 2023

Common stocks
Automobile components	0.5	%
Automobiles	2.1
Banks	15.1
Beverages	2.8
Broadline retail	7.2
Capital markets	1.4
Chemicals	0.8
Construction materials	0.2
Consumer finance	0.2
Consumer staples distribution & retail	3.5
Diversified telecommunication services	0.4
Electrical equipment	2.6
Electronic equipment, instruments & components	2.1
Financial services	0.7
Food products	1.9
Ground transportation	1.6
Health care providers & services	1.0
Hotels, restaurants & leisure	3.1
Household durables	2.4
Independent power and renewable electricity producers	0.7
Insurance	3.0
Interactive media & services	7.7
IT services	1.7
Machinery	1.8
Metals & mining	3.5
Oil, gas & consumable fuels	5.2
Paper & forest products	0.3
Passenger airlines	1.4
Personal care products	0.4
Pharmaceuticals	0.7
Real estate management & development	2.0
Semiconductors & semiconductor equipment	11.6
Software	0.7
Specialty retail	0.3
Technology hardware, storage & peripherals	4.6
Textiles, apparel & luxury goods	1.3
Transportation infrastructure	1.7
Wireless telecommunication services	0.8
Total common stocks	99.0
Preferred stocks
Banks	0.5
Rights	0.0
Short-term investments	0.8
Investment of cash collateral from securities loaned	0.2	%
Total investments	100.5
Liabilities in excess of other assets	(0.5	)
Net assets	100.0	%

1 The portfolio is actively managed and its composition will vary over time.

PACE International Emerging Markets Equity Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Number of shares		Value
Common stocks—99.0%
Brazil—12.7%
Atacadao SA		599,000	$	1,065,707
B3 SA - Brasil Bolsa Balcao		816,100		1,796,739
Banco Bradesco SA, ADR		1,145,785		3,196,740
Banco Bradesco SA		398,420		971,207
Banco BTG Pactual SA		411,300		2,414,733
Banco do Brasil SA		240,700		2,308,295
Localiza Rent a Car SA		136,056		1,372,771
Locaweb Servicos de Internet SA1		1,130,600		1,219,907
MercadoLibre, Inc.*		5,031		6,242,163
Petroleo Brasileiro SA, ADR		378,760		5,681,400
Raia Drogasil SA		325,044		1,663,338
Rumo SA		891,872		3,946,579
Sendas Distribuidora SA		610,600		1,324,930
Suzano SA		115,400		1,180,379
TOTVS SA		461,000		2,314,258
Vale SA, ADR		179,858		2,465,853
WEG SA		548,800		3,593,175
				42,758,174
Canada—0.6%
Ivanhoe Mines Ltd., Class A*,2		286,909		2,114,447
China—30.4%
Airtac International Group		88,000		2,893,227
Alibaba Group Holding Ltd.*		1,017,839		10,478,727
Alibaba Group Holding Ltd., ADR*		22,590		1,864,579
ANTA Sports Products Ltd.		318,200		3,598,679
Baidu, Inc., ADR*		31,774		3,336,270
Baidu, Inc., Class A*		118,630		1,557,470
Bank of China Ltd., Class A		6,492,400		3,460,645
China International Capital Corp. Ltd., Class H1		307,383		489,586
China Mengniu Dairy Co. Ltd.		277,000		904,443
China Merchants Port Holdings Co. Ltd.		1,799,793		2,291,017
China Overseas Land & Investment Ltd.		1,455,500		2,746,687
China Resources Power Holdings Co. Ltd.		1,144,000		2,216,946
Contemporary Amperex Technology Co. Ltd., Class A		106,040		2,692,547
Country Garden Services Holdings Co. Ltd.2		1,615,152		1,410,846
Geely Automobile Holdings Ltd.		1,623,727		1,843,457
Gree Electric Appliances, Inc. of Zhuhai, Class A		1,082,900		5,022,573
Hello Group, Inc., ADR		83,784		593,191
Jiangsu Yanghe Brewery Joint-Stock Co. Ltd., Class A		152,100		2,536,232
Kanzhun Ltd., ADR*		27,810		411,588
Kuaishou Technology*,1		475,407		3,061,548

PACE International Emerging Markets Equity Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
China—(continued)
Kweichow Moutai Co. Ltd., Class A		25,700	$	5,918,804
Lenovo Group Ltd.		1,636,000		1,903,864
Li Auto, Inc., Class A*		48,251		816,099
Lizhong Sitong Light Alloys Group Co. Ltd., Class A		199,047		606,419
Longfor Group Holdings Ltd.1		891,000		1,297,082
Midea Group Co. Ltd., Class A		362,600		2,623,060
PDD Holdings, Inc., ADR*		31,239		3,168,259
PICC Property & Casualty Co. Ltd., Class H		2,160,000		2,466,623
Ping An Insurance Group Co. of China Ltd., Class A		388,100		2,411,384
Shanghai Mechanical & Electrical Industry Co. Ltd., Class A		855,800		1,463,626
Shenzhen Inovance Technology Co. Ltd., Class A		208,700		1,725,115
Silergy Corp.		45,000		402,203
Suofeiya Home Collection Co. Ltd., Class A		119,200		293,350
Tencent Holdings Ltd.		416,911		15,429,347
Trip.com Group Ltd., ADR*		63,178		2,148,052
Will Semiconductor Co. Ltd. Shanghai, Class A		54,510		822,414
XPeng, Inc., ADR*		62,771		908,924
XPeng, Inc., Class A*,2		54,800		398,219
Zhangzhou Pientzehuang Pharmaceutical Co. Ltd., Class A		59,751		2,044,714
Zijin Mining Group Co. Ltd., Class H		1,368,000		2,116,174
				102,373,990
Czech Republic—0.3%
Komercni Banka AS		33,484		981,367
Ghana—0.4%
Kosmos Energy Ltd.*		168,698		1,221,374
Greece—0.2%
Eurobank Ergasias Services & Holdings SA, Class A*		406,888		665,068
Hong Kong—2.1%
AIA Group Ltd.		245,600		2,132,742
Melco Resorts & Entertainment Ltd., ADR*		255,546		2,156,808
WH Group Ltd.1		4,491,683		2,682,581
				6,972,131
Hungary—0.5%
OTP Bank Nyrt		46,394		1,726,785
India—12.1%
Apollo Hospitals Enterprise Ltd.		20,189		1,169,005
Asian Paints Ltd.		33,597		1,210,205
Bajaj Finance Ltd.		8,798		791,991
Britannia Industries Ltd.		21,669		1,152,689

PACE International Emerging Markets Equity Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
India—(continued)
Dr Reddy's Laboratories Ltd.		3,951	$	255,016
Havells India Ltd.		84,457		1,264,453
HDFC Bank Ltd.		351,946		6,245,116
Hindustan Unilever Ltd.		46,759		1,395,447
ICICI Bank Ltd.		156,077		1,717,128
Infosys Ltd.		132,163		2,173,522
InterGlobe Aviation Ltd.*,1		163,415		4,820,167
Kotak Mahindra Bank Ltd.		106,529		2,226,970
Mahindra & Mahindra Ltd.		79,222		1,388,387
Maruti Suzuki India Ltd.		12,918		1,613,156
One 97 Communications Ltd.*		96,485		1,067,806
Pidilite Industries Ltd.		49,360		1,457,354
Reliance Industries Ltd.		246,848		6,787,771
State Bank of India, GDR		35,818		2,427,910
Titan Co. Ltd.		23,367		895,792
Varun Beverages Ltd.		79,459		867,282
				40,927,167
Indonesia—3.6%
Bank Central Asia Tbk. PT		11,497,400		6,334,154
Bank Mandiri Persero Tbk. PT		2,883,692		1,030,205
Bank Rakyat Indonesia Persero Tbk. PT		11,788,214		3,685,985
Telkom Indonesia Persero Tbk. PT		5,735,100		1,257,224
				12,307,568
Macau—1.2%
Galaxy Entertainment Group Ltd.		355,000		1,995,619
Sands China Ltd.*		824,000		2,218,249
				4,213,868
Mexico—2.0%
Cemex SAB de CV, ADR*		134,313		801,849
Grupo Aeroportuario del Pacifico SAB de CV, Class B		111,383		1,299,293
Wal-Mart de Mexico SAB de CV		1,300,800		4,655,867
				6,757,009
Poland—0.6%
Powszechna Kasa Oszczednosci Bank Polski SA*		76,873		796,309
Powszechny Zaklad Ubezpieczen SA		111,037		1,256,481
				2,052,790
Russia—0.0%†
Alrosa PJSC3,4		215,380		0
Rosneft Oil Co. PJSC3,4		126,429		0
				0
Saudi Arabia—1.5%
Saudi Arabian Oil Co.1		432,947		3,846,454
Saudi National Bank		127,547		1,141,309
				4,987,763

PACE International Emerging Markets Equity Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
South Africa—2.8%
Absa Group Ltd.		126,037	$	1,150,042
Capitec Bank Holdings Ltd.		11,165		992,062
Gold Fields Ltd., ADR		152,346		1,983,545
MTN Group Ltd.		551,321		2,693,721
Naspers Ltd., Class N*		15,933		2,490,948
				9,310,318
South Korea—10.4%
DB Insurance Co. Ltd.		30,701		1,997,373
Hana Financial Group, Inc.		56,754		1,650,222
Hyundai Mobis Co. Ltd.		10,738		1,662,938
KB Financial Group, Inc.		48,457		1,847,095
NAVER Corp.		11,648		1,628,427
Samsung Electronics Co. Ltd.		271,679		13,522,789
Samsung SDI Co. Ltd.		7,446		2,357,662
SK Hynix, Inc.		110,019		9,554,281
WONIK IPS Co. Ltd.		46,203		1,033,057
				35,253,844
Taiwan—10.3%
Alchip Technologies Ltd.		32,000		2,624,524
ASPEED Technology, Inc.		11,000		879,095
Chailease Holding Co. Ltd.		261,000		1,415,807
eMemory Technology, Inc.		20,000		1,253,029
Global Unichip Corp.		27,000		1,206,712
MediaTek, Inc.		156,469		4,083,739
Taiwan Semiconductor Manufacturing Co. Ltd.		376,475		6,148,780
Taiwan Semiconductor Manufacturing Co. Ltd., ADR		128,295		11,073,141
Unimicron Technology Corp.		466,000		2,078,319
Voltronic Power Technology Corp.		32,000		1,283,325
Yageo Corp.		106,000		1,728,175
Zhen Ding Technology Holding Ltd.		312,000		943,313
				34,717,959
Thailand—3.0%
Airports of Thailand PCL*		1,196,000		2,220,513
Bangkok Dusit Medical Services PCL, Class F		2,809,900		2,071,357
CP ALL PCL		1,283,200		1,972,112
Kasikornbank PCL		598,300		2,188,132
SCB X PCL		584,500		1,602,551
				10,054,665
Turkey—1.1%
Akbank TAS		1,256,419		1,308,879
BIM Birlesik Magazalar AS		112,696		1,083,827
Turkiye Garanti Bankasi AS		782,259		1,300,321
				3,693,027

PACE International Emerging Markets Equity Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
United Arab Emirates—0.6%
Abu Dhabi National Oil Co. for Distribution PJSC		1,085,947	$	993,498
Aldar Properties PJSC		672,378		952,460
				1,945,958
United States—1.7%
Globant SA*		13,445		2,289,549
JBS SA		412,800		1,639,983
Las Vegas Sands Corp.		37,862		1,796,931
				5,726,463
Vietnam—0.5%
Hoa Phat Group JSC*		1,340,835		1,258,202
Vincom Retail JSC*		560,420		507,490
				1,765,692
Zambia—0.4%
First Quantum Minerals Ltd.2		114,731		1,329,531
Total common stocks (cost—$357,257,543)				333,856,958
Preferred stocks—0.5%
Brazil—0.5%
Itau Unibanco Holding SA (cost $1,698,151)		302,500		1,609,174
Rights: 0.0%†
Localiza Rent a Car SA expires 11/10/23* (cost $0)		863		1,198
Short-term investments: 0.8%
Investment companies: 0.8%
State Street Institutional U.S. Government Money Market Fund, 5.301%5 (cost $2,668,791)		2,668,791		2,668,791
Investment of cash collateral from securities loaned—0.2%
Money market funds—0.2%
State Street Navigator Securities Lending Government Money Market Portfolio, 5.404%5 (cost $822,686)		822,686		822,686
Total investments (cost $362,447,171)6—100.5%				338,958,807
Liabilities in excess of other assets—(0.5)%				(1,841,273	)
Net assets—100.0%			$	337,117,534

For a listing of defined portfolio acronyms that are used throughout the Portfolio of investments as well as the tables that follow, please refer to the Glossary of terms used in the Portfolio of investments.

PACE International Emerging Markets Equity Investments

Portfolio of investments – October 31, 2023 (unaudited) 

Fair valuation summary

The following is a summary of the fair valuations according to the inputs used as of October 31, 2023 in valuing the Portfolio's investments. In the event a Portfolio holds investments for which fair value is measured using the NAV per share practical expedient (or its equivalent), a separate column will be added to the fair value hierarchy table; this is intended to permit reconciliation to the amounts presented in the Portfolio of investments:

Description	Unadjusted quoted prices in active market for identical investments (Level 1)		Other significant observable inputs (Level 2)		Unobservable inputs (Level 3)		Total
Assets
Common stocks	$	87,551,355	$	246,305,603	$	0	$	333,856,958
Preferred stocks		1,609,174		—		—		1,609,174
Rights		1,198		—		—		1,198
Investment companies		—		2,668,791		—		2,668,791
Investment of cash collateral from securities loaned		—		822,686		—		822,686
Total	$	89,161,727	$	249,797,080	$	0	$	338,958,807

At October 31, 2023, there were no transfers in or out of Level 3.

Securities valued using unobservable inputs, i.e. Level 3, were not considered significant to the Fund.

Portfolio footnotes

†	Amount represents less than 0.05% or (0.05)%.
*	Non–income producing security.
1	Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933. These securities are considered liquid, unless noted otherwise, and may be resold in transactions exempt from registrations, normally to qualified institutional buyers. Securities exempt from registration pursuant to Rule 144A, in the amount of $17,417,325, represented 5.2% of the Portfolios net assets at period end.
2	Security, or portion thereof, was on loan at the period end.
3	Security fair valued by the Valuation Committee under the direction of the Board of Trustees.
4	Significant unobservable inputs were used in the valuation of this security; i.e. Level 3.
5	Rates shown reflect yield at October 31, 2023.
6	Includes $3,497,681 of investments in securities on loan, at value plus accrued interest and dividends, if any. The Fund includes cash collateral of $822,687 and non-cash collateral of $2,985,716.

PACE Global Real Estate Securities Investments

Portfolio statistics and industry diversification – (unaudited)¹

As a percentage of net assets as of October 31, 2023

Common stocks
Capital markets	0.5	%
Diversified REITs	0.7
Diversified telecommunication services	2.2
Health care providers & services	3.7
Health care REITs	0.6
Industrial REITs	20.1
Office REITs	3.9
Real estate management & development	15.8
Residential REITs	16.4
Retail REITs	12.0
Specialized REITs	22.8
Total common stocks	98.7
Short-term investments	1.7
Investment of cash collateral from securities loaned	3.0	%
Total investments	103.4
Liabilities in excess of other assets	(3.4	)
Net assets	100.0	%

1 The portfolio is actively managed and its composition will vary over time.

PACE Global Real Estate Securities Investments
Portfolio of investments – October 31, 2023 (unaudited)

	Number of shares		Value
Common stocks—98.7%
Australia—4.3%
Goodman Group1		118,996	$	1,574,542
National Storage REIT		594,955		758,558
Rural Funds Group1		108,391		123,557
				2,456,657
Belgium—1.2%
Shurgard Self Storage Ltd.		18,164		679,782
Canada—3.3%
Brookfield Asset Management Ltd., Class A1		10,410		298,394
Canadian Apartment Properties REIT		17,903		526,988
Granite Real Estate Investment Trust		22,309		1,015,910
				1,841,292
Germany—1.7%
LEG Immobilien SE*		4,175		260,986
Vonovia SE		30,009		690,870
				951,856
Hong Kong—1.4%
Sino Land Co. Ltd.		414,000		413,307
Swire Properties Ltd.		194,800		377,173
				790,480
Japan—7.1%
Heiwa Real Estate Co. Ltd.		12,700		325,105
Japan Logistics Fund, Inc.		327		605,698
Japan Metropolitan Fund Invest		618		398,824
Katitas Co. Ltd.1		55,900		746,121
Mitsui Fudosan Co. Ltd.		57,900		1,254,974
Nomura Real Estate Holdings, Inc.		14,600		340,999
Star Asia Investment Corp.		977		368,111
				4,039,832
Mexico—2.8%
Corp. Inmobiliaria Vesta SAB de CV1		296,914		930,975
Prologis Property Mexico SA de CV		184,400		660,829
				1,591,804
Singapore—3.2%
Capitaland India Trust		523,561		366,987
CapitaLand Investment Ltd.		504,000		1,082,180
Parkway Life Real Estate Investment Trust		140,200		343,947
				1,793,114
Spain—1.2%
Cellnex Telecom SA*,2		24,032		706,447
Switzerland—0.6%
PSP Swiss Property AG		2,866		352,630
United Kingdom—7.9%
Big Yellow Group PLC		66,428		772,563
Grainger PLC		403,238		1,116,052
Segro PLC		98,886		859,531
Shaftesbury Capital PLC		849,034		1,076,316

PACE Global Real Estate Securities Investments
Portfolio of investments – October 31, 2023 (unaudited)

	Number of shares		Value
Common stocks—(continued)
United Kingdom—(continued)
UNITE Group PLC		59,706	$	631,840
				4,456,302
United Republic Of Tanzania—1.0%
Helios Towers PLC*,1		742,372		547,573
United States—63.0%
Alexandria Real Estate Equities, Inc.		12,891		1,200,539
American Homes 4 Rent, Class A		39,340		1,287,992
AvalonBay Communities, Inc.		8,935		1,480,887
Boston Properties, Inc.		13,339		714,570
Brixmor Property Group, Inc.		60,092		1,249,313
CubeSmart		26,229		894,147
Douglas Emmett, Inc.		25,919		290,552
Encompass Health Corp.		13,927		871,273
Equinix, Inc.		5,581		4,072,121
Equity LifeStyle Properties, Inc.		32,451		2,135,276
Essex Property Trust, Inc.		7,617		1,629,429
Extra Space Storage, Inc.		15,784		1,635,064
Farmland Partners, Inc.1		28,609		298,106
Federal Realty Investment Trust		14,841		1,353,351
Lamar Advertising Co., Class A		6,120		503,492
NNN REIT, Inc.		37,461		1,360,958
Phillips Edison & Co., Inc.		37,986		1,341,286
Prologis, Inc.		56,120		5,654,090
Rayonier, Inc.		51,004		1,287,341
Rexford Industrial Realty, Inc.		22,397		968,446
SBA Communications Corp.		6,086		1,269,722
Sun Communities, Inc.		14,029		1,560,586
Universal Health Services, Inc., Class B		9,832		1,237,750
Weyerhaeuser Co.		44,882		1,287,664
				35,583,955
Total common stocks (cost—$70,482,420)				55,791,724
Short-term investments: 1.7%
Investment companies: 1.7%
State Street Institutional U.S. Government Money Market Fund, 5.301%3 (cost $967,738)		967,738		967,738

PACE Global Real Estate Securities Investments
Portfolio of investments – October 31, 2023 (unaudited)

	Number of shares		Value
Investment of cash collateral from securities loaned—3.0%
Money market funds—3.0%
State Street Navigator Securities Lending Government Money Market Portfolio, 5.404%3 (cost $1,690,242)		1,690,242	$	1,690,242
Total investments (cost $73,140,400)4—103.4%				58,449,704
Liabilities in excess of other assets—(3.4)%				(1,948,390	)
Net assets—100.0%			$	56,501,314

For a listing of defined portfolio acronyms that are used throughout the Portfolio of investments as well as the tables that follow, please refer to the Glossary of terms used in the Portfolio of investments.

Fair valuation summary

The following is a summary of the fair valuations according to the inputs used as of October 31, 2023 in valuing the Portfolio's investments. In the event a Portfolio holds investments for which fair value is measured using the NAV per share practical expedient (or its equivalent), a separate column will be added to the fair value hierarchy table; this is intended to permit reconciliation to the amounts presented in the Portfolio of investments:

Description	Unadjusted quoted prices in active market for identical investments (Level 1)		Other significant observable inputs (Level 2)		Unobservable inputs (Level 3)		Total
Assets
Common stocks	$	39,017,051	$	16,774,673	$	—	$	55,791,724
Investment companies		—		967,738		—		967,738
Investment of cash collateral from securities loaned		—		1,690,242		—		1,690,242
Total	$	39,017,051	$	19,432,653	$	—	$	58,449,704

At October 31, 2023, there were no transfers in or out of Level 3.

Portfolio footnotes

*	Non–income producing security.
1	Security, or portion thereof, was on loan at the period end.
2	Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933. These securities are considered liquid, unless noted otherwise, and may be resold in transactions exempt from registrations, normally to qualified institutional buyers. Securities exempt from registration pursuant to Rule 144A, in the amount of $706,447, represented 1.3% of the Portfolios net assets at period end.
3	Rates shown reflect yield at October 31, 2023.
4	Includes $1,863,568 of investments in securities on loan, at value plus accrued interest and dividends, if any. The Fund includes cash collateral of $1,690,242 and non-cash collateral of $268,654.

PACE Alternative Strategies Investments

Portfolio statistics and industry diversification – (unaudited)¹ 

As a percentage of net assets as of October 31, 2023

Common stocks
Aerospace & defense	0.9	%
Air freight & logistics	0.0	†
Automobile components	0.1
Automobiles	0.5
Banks	1.5
Beverages	0.5
Biotechnology	1.1
Broadline retail	0.2
Building products	0.6
Capital markets	1.9
Chemicals	0.1
Commercial services & supplies	1.1
Communications equipment	0.1
Construction & engineering	1.2
Construction materialsx	0.7
Consumer finance	0.0	†
Consumer staples distribution & retail	0.8
Containers & packaging	0.0	†
Distributors	0.0	†
Diversified consumer services	0.0	†
Diversified telecommunication services	1.3
Electric utilities	0.8
Electrical equipment	0.4
Electronic equipment, instruments & components	0.4
Energy equipment & services	0.1
Entertainment	0.1
Financial services	0.9
Food products	0.7
Gas utilities	0.0	†
Ground transportation	1.0
Health care equipment & supplies	0.0	†
Health care providers & services	1.2
Health care REITs	0.1
Health care technology	0.0	†
Hotel & resort REITs	0.3
Hotels, restaurants & leisure	1.3
Household durables	1.0
Household products	0.7
Independent power and renewable electricity producers	0.3
Industrial conglomerates	0.8
Insurance	0.9
Interactive media & services	1.7
IT services	0.4
Leisure products	0.0	†
Life sciences tools & services	0.0	†
Machinery	1.0
Marine transportation	0.0	†
Media	0.2
Metals & mining	0.7
Multi-utilities	0.3

PACE Alternative Strategies Investments

Portfolio statistics and industry diversification – (unaudited)¹ 

Oil, gas & consumable fuels	1.9	%
Paper & forest products	0.0	†
Passenger airlines	0.0	†
Personal care products	0.1
Pharmaceuticals	0.6
Professional services	0.3
Real estate management & development	0.2
Residential REITs	0.5
Retail REITs	0.5
Semiconductors & semiconductor equipment	1.1
Software	2.4
Specialized REITs	0.2
Specialty retail	0.3
Technology hardware, storage & peripherals	0.5
Textiles, apparel & luxury goods	0.1
Tobacco	0.2
Trading companies & distributors	1.2
Transportation infrastructure	0.0	†
Water utilities	0.0	†
Wireless telecommunication services	0.4
Total common stocks	38.4
Preferred stocks
Automobiles	0.2
Exchange traded funds	0.5
Investment companies	10.5
Warrant
Software	0.0	†
Corporate bonds
Airlines	0.5
Auto manufacturers	0.0	†
Chemicals	0.0	†
Computers	0.4
Electric	1.0
Entertainment	1.1
Healthcare-products	0.0	†
Internet	3.3
Leisure time	2.5
Oil & gas	0.9
Retail	1.0
Software	0.1
Total corporate bonds	10.8
Short-term investments	30.2
Equity and foreign exchange options purchased
Call options	0.3
Put options	0.5
Total equity and foreign exchange options purchased	0.8
Total investments before investments sold short	91.4
Investments sold short
Common stocks
Aerospace & defense	(0.4	)
Air freight & logistics	(0.1	)

PACE Alternative Strategies Investments

Portfolio statistics and industry diversification – (unaudited)¹ 

Automobile components	(0.2	)%
Automobiles	(0.4	)
Banks	(0.8	)
Beverages	(0.0	)†
Biotechnology	(0.3	)
Broadline retail	(0.1	)
Building products	(0.2	)
Capital markets	(0.4	)
Chemicals	(0.2	)
Commercial services & supplies	(0.1	)
Communications equipment	(0.0	)†
Construction & engineering	(0.1	)
Construction materials	(0.0	)†
Consumer finance	(0.2	)
Consumer staples distribution & retail	(0.2	)
Containers & packaging	(0.0	)†
Distributors	(0.0	)†
Diversified telecommunication services	(0.5	)
Electric utilities	(0.3	)
Electrical equipment	(0.4	)
Energy equipment & services	(1.0	)
Entertainment	(1.0	)
Financial services	(0.3	)
Food products	(0.3	)
Ground transportation	(0.7	)
Health care equipment & supplies	(0.0	)†
Health care providers & services	(0.1	)
Hotels, restaurants & leisure	(3.5	)
Household durables	(0.0	)†
Independent power and renewable electricity producers	(0.1	)
Industrial REITs	(0.2	)
Insurance	(0.2	)
Interactive media & services	(0.2	)
IT services	(0.4	)
Leisure products	(0.1	)
Machinery	(0.4	)
Media	(0.4	)
Metals & mining	(0.5	)
Mortgage real estate investment	(0.1	)
Multi-utilities	(0.0	)†
Office REITs	(0.1	)
Oil, gas & consumable fuels	(1.0	)
Passenger airlines	(0.1	)
Pharmaceuticals	(0.5	)
Professional services	(0.3	)
Real estate management & development	(0.4	)
Retail REITs	(0.2	)
Semiconductors & semiconductor equipment	(0.3	)
Software	(3.5	)
Specialized REITs	(0.1	)
Specialty retail	(0.8	)

PACE Alternative Strategies Investments

Portfolio statistics and industry diversification – (unaudited)¹ 

Technology hardware, storage & peripherals	(0.5	)%
Textiles, apparel & luxury goods	(0.1	)
Water utilities	(0.0	)†
Total common stocks	(22.3	)
Preferred stocks
Life sciences tools & services	(0.0	)†
Exchange traded funds	(2.9	)%
Investment companies	(0.4	)%
Corporate bonds
Retail	(0.0	)†
Total investments sold short	(25.6	)
Other assets in excess of liabilities	34.2
Net assets	100.0	%

†	Amount represents less than 0.05% or (0.05)%.
1	The portfolio is actively managed and its composition will vary over time.

PACE Alternative Strategies Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Number of shares		Value
Common stocks—38.4%
Australia—0.2%
Glencore PLC		21,660	$	114,729
Helia Group Ltd.		18,781		43,192
Rio Tinto Ltd.		5,746		429,215
Rio Tinto PLC		953		60,802
				647,938
Austria—0.1%
Mondi PLC		7,336		118,664
OMV AG		2,610		114,470
Verbund AG		723		62,819
				295,953
Belgium—0.0%†
Ageas SA		2,835		108,900
Solvay SA		636		67,235
				176,135
Bermuda—0.0%†
Teekay Corp.*		1,367		9,610
Brazil—0.0%†
Yara International ASA		2,462		80,561
Canada—6.2%
Aecon Group, Inc.		10,600		77,966
Agnico Eagle Mines Ltd.1		13,050		612,175
Alimentation Couche-Tard, Inc.1		6,440		350,572
Black Diamond Group Ltd.		90,550		410,062
Boardwalk Real Estate Investment Trust1		10,750		502,015
Brookfield Infrastructure Corp., Class A		121		3,117
Brookfield Infrastructure Partners LP1		4,320		97,805
Cameco Corp.1		4,260		174,277
Canadian Apartment Properties REIT1		19,330		568,993
Canadian Pacific Kansas City Ltd.1		21,510		1,526,565
Canadian Utilities Ltd., Class A		400		8,463
Cenovus Energy, Inc.1		28,970		552,748
Chartwell Retirement Residences1		202,138		1,480,961
Crescent Point Energy Corp.1		28,480		228,125
Docebo, Inc.*,1		7,530		297,182
Dollarama, Inc.1		3,230		220,574
Element Fleet Management Corp.1		17,180		232,412
Empire Co. Ltd., Class A		15,200		416,513
Enerflex Ltd.1		76,730		305,426
Fairfax Financial Holdings Ltd.1		2,340		1,947,309
George Weston Ltd.1		1,910		207,177
Gildan Activewear, Inc.1		6,410		182,108
Headwater Exploration, Inc.1		10,810		58,152
Imperial Oil Ltd.		4,700		267,850
InterRent Real Estate Investment Trust1		96,860		821,398
Kinaxis, Inc.*,1		2,820		275,381

PACE Alternative Strategies Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Number of shares		Value
Common stocks—(continued)
Canada—(continued)
Kinross Gold Corp.		16,500	$	86,144
Linamar Corp.1		3,250		140,523
Manulife Financial Corp.		7,400		128,816
Open Text Corp.		13,700		457,408
Parkit Enterprise, Inc.*		471,798		156,500
Power Corp. of Canada		2,800		67,458
RB Global, Inc.1		40,610		2,655,894
Rogers Communications, Inc., Class B1		37,063		1,373,555
Saputo, Inc.1		14,730		297,415
SNC-Lavalin Group, Inc.1		87,930		2,442,447
Spartan Delta Corp.		15,300		49,207
Tamarack Valley Energy Ltd.1		214,590		648,374
TC Energy Corp.1		16,020		551,889
TECSYS, Inc.		14,580		278,615
Teekay Tankers Ltd., Class A		212		10,536
Torex Gold Resources, Inc.*		5,200		50,134
Vermilion Energy, Inc.1		34,510		497,634
				21,717,875
Cayman Islands—0.0%†
Consolidated Water Co. Ltd.		154		4,546
Patria Investments Ltd., Class A		641		8,263
				12,809
Chile—0.0%†
Sociedad Quimica y Minera de Chile SA, ADR		2,874		139,102
China—0.0%†
NIO, Inc.*		9,987		72,905
Wilmar International Ltd.		37,800		98,272
				171,177
Denmark—0.2%
AP Moller - Maersk AS, Class B		70		116,636
Danske Bank AS		3,236		75,913
Novo Nordisk AS, Class B		4,868		469,646
				662,195
France—0.6%
Atos SE*		1,715		12,025
Carrefour SA		11,228		196,843
Cie de Saint-Gobain SA		2,145		116,761
Cie Generale des Etablissements Michelin SCA		3,958		117,586
Eurazeo SE		9,384		529,039
Renault SA		5,004		175,562
SCOR SE		1,969		58,783
Societe Generale SA		10,709		240,650
Thales SA		3,682		543,381
TotalEnergies SE		1,813		121,213
				2,111,843

PACE Alternative Strategies Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
Georgia—0.1%
Bank of Georgia Group PLC		5,087	$	205,958
Germany—1.0%
Bayerische Motoren Werke AG		1,186		110,303
Commerzbank AG		87,633		945,170
Daimler Truck Holding AG		16,107		506,086
Deutsche Bank AG, Registered Shares		52,704		579,984
Heidelberg Materials AG		15,770		1,144,797
Mercedes-Benz Group AG		442		26,005
Talanx AG		950		59,868
thyssenkrupp AG		16,848		117,425
				3,489,638
Hong Kong—0.6%
Jardine Matheson Holdings Ltd.		14,100		571,347
New World Development Co. Ltd.		144,000		264,286
Swire Pacific Ltd., Class A		51,000		325,780
WH Group Ltd.2		1,505,500		899,134
				2,060,547
Ireland—0.1%
AerCap Holdings NV*,1		4,655		289,169
Ardmore Shipping Corp.		1,042		13,848
				303,017
Israel—0.0%†
Sapiens International Corp. NV		159		4,054
Italy—0.4%
Azimut Holding SpA		5,621		118,440
Eni SpA		7,402		121,005
Intesa Sanpaolo SpA		173,650		452,496
UniCredit SpA		29,726		745,219
				1,437,160
Japan—1.7%
Allegro MicroSystems, Inc.*		445		11,552
Chubu Electric Power Co., Inc.		91,800		1,109,325
Hitachi Ltd.		2,236		141,732
Inpex Corp.		5,000		72,554
JFE Holdings, Inc.		54,400		757,948
Komatsu Ltd.		12,200		280,312
Marubeni Corp.		8,100		118,436
Mitsubishi Corp.		9,100		424,201
Mitsubishi UFJ Financial Group, Inc.		83,300		698,816
Mitsui & Co. Ltd.		7,800		283,485
Mizuho Financial Group, Inc.		500		8,489
Nomura Holdings, Inc.		125,000		482,926
Sumitomo Corp.		40,300		792,204
Toyota Tsusho Corp.		11,400		606,894
				5,788,874
Monaco—0.0%†
Scorpio Tankers, Inc.		163		9,152

PACE Alternative Strategies Investments

Portfolio of investments – October 31, 2023 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
Netherlands—0.0%†
OCI NV		4,621	$	107,673
Norway—0.1%
Aker BP ASA		4,260		122,780
Equinor ASA		3,586		120,214
				242,994
Portugal—0.0%†
Galp Energia SGPS SA		7,915		119,158
Singapore—0.0%†
Hafnia Ltd.		16,601		109,093
Jardine Cycle & Carriage Ltd.		700		14,420
Kulicke & Soffa Industries, Inc.		292		12,150
				135,663
Spain—0.4%
Aena SME SA2		123		17,848
Endesa SA		6,037		113,584
Repsol SA		79,837		1,168,985
				1,300,417
Sweden—0.5%
Embracer Group AB*		13,121		21,363
Essity AB, Class B		12,806		292,001
Industrivarden AB, Class C		1,123		28,961
Securitas AB, Class B		94,525		757,184
Volvo AB, Class B		20,936		414,851
Volvo AB, Class A		10,477		210,056
				1,724,416
Switzerland—0.1%
Adecco Group AG, Registered Shares		2,009		76,027
Swatch Group AG, Registered Shares		3,419		165,585
				241,612
Thailand—0.0%†
Fabrinet*		81		12,555
United Kingdom—1.4%
3i Group PLC		4,036		95,159
BAE Systems PLC		41,615		559,570
Barclays PLC		31,329		50,285
Barratt Developments PLC		17,591		88,715
BP PLC		18,328		111,911
Centrica PLC		382,357		731,945
CK Hutchison Holdings Ltd.		290,000		1,468,062
Coca-Cola Europacific Partners PLC1		11,856		693,695
Harbour Energy PLC		19,042		58,856
HSBC Holdings PLC		42,334		305,669
International Consolidated Airlines Group SA*		16,411		28,832
Taylor Wimpey PLC		88,734		119,848
Unilever PLC		6,637		314,332
Vodafone Group PLC		104,023		95,757
				4,722,636

PACE Alternative Strategies Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Number of shares		Value
Common stocks—(continued)
United States—24.7%
A O Smith Corp.		202	$	14,092
A10 Networks, Inc.		776		8,435
AAON, Inc.		80		4,358
AbbVie, Inc.1		1,719		242,688
Acuity Brands, Inc.		80		12,958
AdaptHealth Corp.*,1		1,523		11,164
Addus HomeCare Corp.*		53		4,182
Adeia, Inc.1		3,817		32,177
Adobe, Inc.*,1		612		325,621
Advanced Drainage Systems, Inc.		79		8,440
Aehr Test Systems*		260		6,126
AES Corp.		20,757		309,279
Akamai Technologies, Inc.*		42		4,340
Alamo Group, Inc.		26		4,168
Allison Transmission Holdings, Inc.		630		31,765
Alphabet, Inc., Class C*,1		8,253		1,034,101
Alphabet, Inc., Class A*,1		8,438		1,046,987
Altria Group, Inc.1		16,074		645,693
A-Mark Precious Metals, Inc.1		11,828		320,302
Amazon.com, Inc.*,1		3,760		500,418
AMC Networks, Inc., Class A*,1		11,190		132,042
Amdocs Ltd.		53		4,248
Ameriprise Financial, Inc.		110		34,603
AMERISAFE, Inc.		88		4,485
AMETEK, Inc.		30		4,223
Amgen, Inc.1		853		218,112
Amphenol Corp., Class A		55		4,430
ANSYS, Inc.*		15		4,174
Antero Resources Corp.*		640		18,842
APA Corp.		879		34,914
Apogee Enterprises, Inc.		202		8,670
Apollo Global Management, Inc.		420		32,525
Apple, Inc.1		8,215		1,402,876
ArcBest Corp.		45		4,900
Arch Capital Group Ltd.*		268		23,230
Arcturus Therapeutics Holdings, Inc.*		410		7,831
Argan, Inc.		293		13,402
Array Technologies, Inc.*		21,173		366,928
Arrow Electronics, Inc.*,1		8,196		929,508
Arthur J Gallagher & Co.1		1,460		343,815
Artisan Partners Asset Management, Inc., Class A		258		8,514
Assertio Holdings, Inc.*		3,730		8,020
AssetMark Financial Holdings, Inc.*		177		4,232
AT&T, Inc.1		105,298		1,621,589
Atkore, Inc.*		66		8,202
AutoNation, Inc.*		65		8,455
Axcelis Technologies, Inc.*,1		756		96,390
Badger Meter, Inc.		94		13,024

PACE Alternative Strategies Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Number of shares		Value
Common stocks—(continued)
United States—(continued)
Balchem Corp.		36	$	4,185
Bandwidth, Inc., Class A*,1		2,413		25,602
Bank of New York Mellon Corp.1		15,401		654,542
Beazer Homes USA, Inc.*,1		14,293		345,748
Bel Fuse, Inc., Class B		200		10,836
Best Buy Co., Inc.1		6,128		409,473
Bio-Techne Corp.		67		3,660
Boise Cascade Co.		93		8,719
Booz Allen Hamilton Holding Corp.		4,636		555,995
Bristol-Myers Squibb Co.1		17,420		897,653
Broadcom, Inc.1		279		234,742
Buckle, Inc.		265		8,949
Build-A-Bear Workshop, Inc.		338		8,382
Builders FirstSource, Inc.*,1		4,111		446,126
Cactus, Inc., Class A		268		12,580
California Resources Corp.		163		8,572
Cal-Maine Foods, Inc.		289		13,095
Campbell Soup Co.1		4,088		165,196
Cargurus, Inc.*		503		8,667
Catalyst Pharmaceuticals, Inc.*,1		26,683		331,136
Caterpillar, Inc.1		3,720		840,906
Cavco Industries, Inc.*		51		12,725
Centene Corp.*,1		12,211		842,315
Century Communities, Inc.		68		4,182
CF Industries Holdings, Inc.		538		42,922
Charter Communications, Inc., Class A*		20		8,056
Chase Corp.		36		4,574
Chemed Corp.		27		15,192
Cheniere Energy, Inc.		210		34,948
Chesapeake Energy Corp.		508		43,729
Chord Energy Corp.		53		8,762
Cintas Corp.		27		13,692
Cirrus Logic, Inc.*		12,584		842,247
Cisco Systems, Inc.1		2,680		139,708
Clearfield, Inc.*		487		11,698
Clearway Energy, Inc., Class A1		8,304		169,152
Clorox Co.1		5,309		624,869
CNA Financial Corp.		445		17,978
Coca-Cola Consolidated, Inc.		14		8,910
Cognex Corp.		336		12,093
Cognizant Technology Solutions Corp., Class A		199		12,830
Cohen & Steers, Inc.		160		8,358
Coinbase Global, Inc., Class A*		467		36,015
Comfort Systems USA, Inc.		81		14,730
Commercial Metals Co.		293		12,391
Conagra Brands, Inc.1		1,749		47,853
Consolidated Edison, Inc.1		1,545		135,636

PACE Alternative Strategies Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Number of shares		Value
Common stocks—(continued)
United States—(continued)
Constellation Energy Corp.		3,574	$	403,576
Contra Abiomed, Inc.*,7		42		43
Copart, Inc.*		304		13,230
Corcept Therapeutics, Inc.*		330		9,266
Core & Main, Inc., Class A*		1,327		39,916
Corebridge Financial, Inc.		868		17,360
Corning, Inc.		7,686		205,677
CorVel Corp.*		68		13,188
CoStar Group, Inc.*		58		4,258
Coterra Energy, Inc.1		10,461		287,678
CRA International, Inc.		45		4,370
CRH PLC1		16,753		897,458
Cross Country Healthcare, Inc.*		380		8,801
CubeSmart		118		4,023
Curtiss-Wright Corp.		23		4,573
CVS Health Corp.1		17,523		1,209,262
Deckers Outdoor Corp.*		27		16,121
Denbury, Inc.*		96		8,533
Destination XL Group, Inc.*		1,035		4,306
Diamondback Energy, Inc.		220		35,270
Dillard's, Inc., Class A		29		9,003
Diodes, Inc.*		177		11,519
Dolby Laboratories, Inc., Class A		167		13,517
Donaldson Co., Inc.		226		13,031
Dorian LPG Ltd.		155		4,955
DoubleVerify Holdings, Inc.*		165		4,592
Doximity, Inc., Class A*		403		8,233
DR Horton, Inc.1		6,813		711,277
Dream Finders Homes, Inc., Class A*,1		4,771		93,941
Dycom Industries, Inc.*		12,068		1,027,952
Dynatrace, Inc.*		97		4,337
Eagle Materials, Inc.		79		12,159
eBay, Inc.1		2,604		102,155
Ebix, Inc.1		16,371		99,699
Edison International		4,402		277,590
Elastic NV*		24,373		1,828,950
elf Beauty, Inc.*		130		12,042
EMCOR Group, Inc.		45		9,299
Emergent BioSolutions, Inc.*,1		37,171		77,687
Emerson Electric Co.		1,718		152,850
EngageSmart, Inc.*		256		5,798
Enovix Corp.*		10,494		93,502
Enphase Energy, Inc.*,1		535		42,575
EOG Resources, Inc.		275		34,719
EPAM Systems, Inc.*		55		11,966
ePlus, Inc.*		71		4,438
EQT Corp.		1,038		43,990
Essent Group Ltd.		282		13,322

PACE Alternative Strategies Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Number of shares		Value
Common stocks—(continued)
United States—(continued)
Ethan Allen Interiors, Inc.		459	$	12,053
Everbridge, Inc.*		51,836		1,068,340
Evercore, Inc., Class A		202		26,296
Everest Group Ltd.		45		17,803
Evolution Petroleum Corp.		1,391		8,944
ExlService Holdings, Inc.*		486		12,689
Expeditors International of Washington, Inc.		194		21,195
Exponent, Inc.		155		11,360
F5, Inc.*		29		4,396
FactSet Research Systems, Inc.		10		4,319
Fastenal Co.		239		13,943
Ferguson PLC		30		4,506
Fidelity National Financial, Inc.		452		17,669
Fidelity National Information Services, Inc.		21,297		1,045,896
Fifth Third Bancorp		49,414		1,171,606
First Solar, Inc.*		1,105		157,407
FirstCash Holdings, Inc.		46		5,010
Fiserv, Inc.*		4,539		516,311
Fluence Energy, Inc.*		7,446		128,965
Ford Motor Co.1		30,415		296,546
Fortinet, Inc.*,1		7,566		432,548
Forward Air Corp.		189		12,173
Fox Corp., Class A1		15,823		480,861
Fox Factory Holding Corp.*		46		3,748
Franklin Electric Co., Inc.		50		4,336
FutureFuel Corp.		1,959		12,831
Garmin Ltd.		128		13,124
General Electric Co.1		5,555		603,440
General Motors Co.1		6,398		180,424
Genpact Ltd.		123		4,125
Gentex Corp.		429		12,304
Gibraltar Industries, Inc.*		209		12,720
Gilead Sciences, Inc.1		20,973		1,647,219
Globant SA*		23		3,917
Globus Medical, Inc., Class A*		262		11,976
Goldman Sachs Group, Inc.		6,829		2,073,353
Goodyear Tire & Rubber Co.*		13,088		155,747
Graco, Inc.		184		13,680
Grand Canyon Education, Inc.*		117		13,845
Gray Television, Inc.1		34,186		222,893
Green Brick Partners, Inc.*,1		5,943		229,994
H&R Block, Inc.		1,048		43,020
Halliburton Co.		212		8,340
Halozyme Therapeutics, Inc.*,1		10,220		346,151
Harmony Biosciences Holdings, Inc.*		360		8,474
Hawkins, Inc.		154		8,844
HEICO Corp.		29		4,594

PACE Alternative Strategies Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Number of shares		Value
Common stocks—(continued)
United States—(continued)
HEICO Corp., Class A		36	$	4,577
Herc Holdings, Inc.		2,040		217,852
Hewlett Packard Enterprise Co.1		23,246		357,523
HF Sinclair Corp.		821		45,467
Holcim AG		8,135		502,969
Hormel Foods Corp.		117		3,808
Houlihan Lokey, Inc.		42		4,222
Hubbell, Inc.		15		4,052
Hudson Technologies, Inc.*		675		8,694
Humana, Inc.1		946		495,411
IDEX Corp.		22		4,211
IDEXX Laboratories, Inc.*		20		7,989
IDT Corp., Class B*		326		9,144
IES Holdings, Inc.*		72		4,481
Immersion Corp.		1,354		8,652
Incyte Corp.*,1		1,110		59,862
Inmode Ltd.*		523		9,989
Innospec, Inc.		135		13,230
Insight Enterprises, Inc.*		31		4,442
Installed Building Products, Inc.		37		4,132
Insteel Industries, Inc.		293		8,178
Intel Corp.		15,806		576,919
International Seaways, Inc.1		9,115		438,340
Invesco Ltd.1		12,308		159,635
IPG Photonics Corp.*		46		3,951
ITT, Inc.		139		12,976
Jabil, Inc.		212		26,034
Jack Henry & Associates, Inc.		92		12,971
Jacobs Solutions, Inc.1		2,080		277,264
Janus International Group, Inc.*,1		12,302		115,147
John B Sanfilippo & Son, Inc.		137		14,010
Johnson Controls International PLC1		4,693		230,051
JS Global Lifestyle Co. Ltd.2		130,000		20,474
Juniper Networks, Inc.1		783		21,078
Kadant, Inc.		20		4,400
KB Home		98		4,332
Keysight Technologies, Inc.*		105		12,815
Kforce, Inc.		152		9,278
Kimberly-Clark Corp.1		12,896		1,542,877
Kimco Realty Corp.		90,229		1,618,708
Kiniksa Pharmaceuticals Ltd., Class A*		559		8,525
Kinsale Capital Group, Inc.		32		10,685
Kraft Heinz Co.1		23,641		743,746
Kroger Co.1		538		24,409
Lancaster Colony Corp.		80		13,534
Landstar System, Inc.		76		12,523
Las Vegas Sands Corp.		32,583		1,546,389
Lattice Semiconductor Corp.*		172		9,565

PACE Alternative Strategies Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Number of shares		Value
Common stocks—(continued)
United States—(continued)
La-Z-Boy, Inc.		147	$	4,298
LeMaitre Vascular, Inc.		82		3,984
Lennar Corp., Class A1		6,168		658,002
Lennar Corp., Class B		489		48,220
Lennox International, Inc.1		710		263,083
Liberty Energy, Inc.		465		9,161
Lincoln Electric Holdings, Inc.		75		13,110
Lindsay Corp.		39		4,872
Littelfuse, Inc.		18		3,900
Livent Corp.*		811		11,832
LKQ Corp.		91		3,997
Lockheed Martin Corp.1		2,849		1,295,269
Loews Corp.		139		8,897
LPL Financial Holdings, Inc.		175		39,291
Lumen Technologies, Inc.*,1		127,870		186,690
M/I Homes, Inc.*		165		13,542
Madison Square Garden Entertainment Corp.*		10,500		320,040
Magnolia Oil & Gas Corp., Class A		394		8,845
Malibu Boats, Inc., Class A*		279		12,170
Manhattan Associates, Inc.*		68		13,259
Marathon Oil Corp.		328		8,958
Marathon Petroleum Corp.		241		36,451
Markel Group, Inc.*		12		17,646
MarketAxess Holdings, Inc.		60		12,825
Marqeta, Inc., Class A*		43,986		227,408
MasTec, Inc.*		3,612		214,697
MasterCraft Boat Holdings, Inc.*		407		8,319
Matson, Inc.		102		8,879
MDC Holdings, Inc.		110		4,175
Medical Properties Trust, Inc.1		46,596		222,729
Medifast, Inc.		183		12,656
Medpace Holdings, Inc.*		56		13,590
Medtronic PLC1		301		21,239
Meritage Homes Corp.		114		12,998
Meta Platforms, Inc., Class A*,1		451		135,873
Mettler-Toledo International, Inc.*		8		7,882
MGIC Investment Corp.		1,840		30,986
Microchip Technology, Inc.1		3,938		280,740
Microsoft Corp.1		2,022		683,658
Molina Healthcare, Inc.*		27		8,990
Molson Coors Beverage Co., Class B1		15,940		920,854
Monarch Casino & Resort, Inc.		216		13,001
MongoDB, Inc.*		1,534		528,601
Monolithic Power Systems, Inc.		30		13,252
MSC Industrial Direct Co., Inc., Class A		404		38,279
Mueller Industries, Inc.		370		13,953
Murphy USA, Inc.		50		18,135

PACE Alternative Strategies Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Number of shares		Value
Common stocks—(continued)
United States—(continued)
MYR Group, Inc.*		33	$	3,822
Napco Security Technologies, Inc.		628		11,536
National Beverage Corp.*		295		13,682
Netflix, Inc.*,1		257		105,804
New Fortress Energy, Inc.		4,377		132,623
New York Times Co., Class A		111		4,474
NewMarket Corp.		19		9,161
NextEra Energy Partners LP		4,297		116,320
NextEra Energy, Inc.		2,247		131,000
NMI Holdings, Inc., Class A*		491		13,429
Nordson Corp.		61		12,968
NOW, Inc.*		771		8,496
Nucor Corp.		117		17,291
NVE Corp.		179		12,172
NVIDIA Corp.1		2,532		1,032,550
NVR, Inc.*		8		43,301
Old Dominion Freight Line, Inc.		33		12,430
Old Republic International Corp.		327		8,953
Ollie's Bargain Outlet Holdings, Inc.*		59		4,557
ONE Gas, Inc.		62		3,745
Onto Innovation, Inc.*		107		12,024
Open Lending Corp., Class A*		1,325		7,937
OraSure Technologies, Inc.*		2,421		12,492
Ovintiv, Inc.		729		34,992
Owens Corning1		7,043		798,465
PACCAR, Inc.1		6,187		510,613
Packaging Corp. of America		30		4,592
Park Hotels & Resorts, Inc.		89,906		1,036,616
Parker-Hannifin Corp.1		540		199,211
Paychex, Inc.		116		12,882
Paycom Software, Inc.		51		12,493
PBF Energy, Inc., Class A		191		9,078
PC Connection, Inc.		250		13,395
Penn Entertainment, Inc.*		53,213		1,049,892
Penske Automotive Group, Inc.		118		16,883
Perdoceo Education Corp.		768		13,893
Perficient, Inc.*		76		4,422
PG&E Corp.*		15,859		258,502
Phillips 66		159		18,137
Phinia, Inc.		685		17,728
Photronics, Inc.*,1		2,228		40,906
Pinterest, Inc., Class A*		61,613		1,840,996
PJT Partners, Inc., Class A		117		9,168
Pool Corp.		27		8,526
Powell Industries, Inc.		171		13,107
Power Integrations, Inc.		181		12,549
PPL Corp.		13,306		326,928
Preformed Line Products Co.		60		8,121
PriceSmart, Inc.		61		3,812

PACE Alternative Strategies Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Number of shares		Value
Common stocks—(continued)
United States—(continued)
Progressive Corp.1		2,690	$	425,262
Progyny, Inc.*		271		8,363
Public Storage1		2,450		584,840
PulteGroup, Inc.1		10,885		801,027
QUALCOMM, Inc.1		2,227		242,721
Qualys, Inc.*		87		13,307
Quanta Services, Inc.1		2,328		389,055
Rambus, Inc.*		240		13,039
Range Resources Corp.		1,282		45,947
Reinsurance Group of America, Inc.		119		17,787
Reliance Steel & Aluminum Co.		192		48,841
ResMed, Inc.		33		4,660
Resources Connection, Inc.		943		12,702
REX American Resources Corp.*		114		4,333
RLI Corp.		32		4,264
Robert Half, Inc.		182		13,608
Robinhood Markets, Inc., Class A*		228,483		2,088,335
Roche Holding AG		740		201,658
Rogers Corp.*		34		4,178
Rollins, Inc.		378		14,217
RPC, Inc.		1,516		12,613
RTX Corp.		7,061		574,695
Ryder System, Inc.		356		34,724
Saia, Inc.*		34		12,189
SEI Investments Co.		234		12,556
Selective Insurance Group, Inc.		43		4,477
SentinelOne, Inc., Class A*		32,180		502,973
Shoals Technologies Group, Inc., Class A*		8,058		123,771
Shockwave Medical, Inc.*		44		9,075
Shutterstock, Inc.1		8,880		361,238
SIGA Technologies, Inc.		1,671		8,522
Simply Good Foods Co.*		130		4,848
Simpson Manufacturing Co., Inc.		96		12,785
Simulations Plus, Inc.		112		3,950
Skyline Champion Corp.*		147		8,619
Skyworks Solutions, Inc.		142		12,317
Snap-on, Inc.		53		13,671
SolarEdge Technologies, Inc.*,1		1,610		122,280
Southwestern Energy Co.*		5,179		36,926
Spok Holdings, Inc.		609		9,080
SPS Commerce, Inc.*		81		12,988
Standex International Corp.		32		4,594
Steel Dynamics, Inc.		428		45,586
Stellantis NV		51,954		970,622
Sterling Infrastructure, Inc.*,1		1,123		81,811
Steven Madden Ltd.		420		13,772
Stride, Inc.*		101		5,553
Sunnova Energy International, Inc.*		17,315		158,086

PACE Alternative Strategies Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Number of shares		Value
Common stocks—(continued)
United States—(continued)
Sunrun, Inc.*		8,502	$	82,044
Super Micro Computer, Inc.*,1		368		88,125
T Rowe Price Group, Inc.		132		11,946
Targa Resources Corp.		102		8,528
Target Hospitality Corp.*		593		8,142
Taylor Morrison Home Corp.*		324		12,416
TD SYNNEX Corp.		91		8,343
Tenaris SA		7,382		116,941
Teradyne, Inc.		140		11,658
Tetra Tech, Inc.		29		4,376
Texas Pacific Land Corp.		4		7,384
Thermon Group Holdings, Inc.*		172		4,591
Thor Industries, Inc.		99		8,705
Timken Co.		63		4,355
TJX Cos., Inc.1		4,610		406,003
Toll Brothers, Inc.		690		48,790
TopBuild Corp.*		93		21,275
Tradeweb Markets, Inc., Class A		56		5,041
Trane Technologies PLC		23		4,377
Tri Pointe Homes, Inc.*		166		4,160
TriNet Group, Inc.*		76		7,809
TripAdvisor, Inc.*		103,989		1,534,878
U.S. Steel Corp.		1,085		36,771
Uber Technologies, Inc.*,1		32,426		1,403,397
UFP Industries, Inc.		135		12,848
UFP Technologies, Inc.*		30		4,678
Ulta Beauty, Inc.*		24		9,151
Union Pacific Corp.1		2,010		417,296
United Rentals, Inc.1		3,244		1,317,940
United Therapeutics Corp.*,1		3,328		741,678
Universal Display Corp.		86		11,969
Unum Group		177		8,655
USANA Health Sciences, Inc.*		233		10,613
Vail Resorts, Inc.		8,975		1,904,944
Valero Energy Corp.1		519		65,913
Valvoline, Inc.1		4,280		126,988
Veeva Systems, Inc., Class A*		66		12,719
Veralto Corp.*,1		169		11,661
VeriSign, Inc.*,1		4,777		953,776
Veritiv Corp.		79		13,383
Verizon Communications, Inc.1		74,837		2,629,024
Vertiv Holdings Co.		8,622		338,586
Viatris, Inc.1		55,392		492,989
Vistra Corp.		3,928		128,524
Voyager Therapeutics, Inc.*		1,241		8,153
W R Berkley Corp.		133		8,967
Wabash National Corp.1		16,549		342,399
Walgreens Boots Alliance, Inc.1		68,354		1,440,902
Warrior Met Coal, Inc.		181		8,820

PACE Alternative Strategies Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Number of shares		Value
Common stocks—(continued)
United States—(continued)
Watsco, Inc.		37	$	12,909
Watts Water Technologies, Inc., Class A		78		13,495
WD-40 Co.		44		9,302
Weis Markets, Inc.		71		4,622
Wells Fargo & Co.1		7,490		297,877
West Pharmaceutical Services, Inc.		36		11,458
Western Union Co.		2,837		32,030
Westlake Corp.		299		34,493
WEX, Inc.*		48		7,991
White Mountains Insurance Group Ltd.		6		8,585
Williams-Sonoma, Inc.		283		42,518
Winmark Corp.		22		8,873
Woodward, Inc.		36		4,489
WW Grainger, Inc.		19		13,867
XPEL, Inc.*		208		9,630
XPO, Inc.*,1		2,370		179,670
Zoom Video Communications, Inc., Class A*		33,687		2,020,546
Zymeworks, Inc.*		1,342		9,421
				86,474,052
Total common stocks (cost—$140,883,100)				134,404,774
Preferred stocks—0.2%
Germany—0.2%
Bayerische Motoren Werke AG		1,190		101,185
Volkswagen AG		4,144		439,474
Total preferred stocks (cost—$671,863)				540,659
Exchange traded funds: 0.5%
VanEck Gold Miners ETF (cost—$1,793,445)		60,935		1,706,789
Investment companies—10.5%
AQR Style Premia Alternative Fund, Class R6		680,020		5,882,169
Carillon Reams Unconstrained Bond Fund, Class I		1,383,588		15,980,441
Virtus AlphaSimplex Managed Futures Strategy Fund, Class I		1,486,393		14,759,885
Total investment companies (cost—$37,946,167)				36,622,495

PACE Alternative Strategies Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Number of warrants		Value
Warrant: 0.0%†
Canada—0.0%
Constellation Software, Inc. expires 03/31/407 (cost --$0)		100	$	0

	Face amount3
Corporate bonds—10.8%
Canada—0.5%
Chorus Aviation, Inc.
6.000%, due 06/30/261,2	CAD	2,430,000	1,664,683
China—0.0%†
NIO, Inc.
4.625%, due 10/15/302		60,000	53,445
United States—10.3%
Akamai Technologies, Inc.
1.125%, due 02/15/292		375,000	370,790
Amyris, Inc.
0.000%, due 11/15/264		525,000	55,125
Bloomin' Brands, Inc.
5.000%, due 05/01/25		1,500,000	3,189,930
Cinemark Holdings, Inc.
4.500%, due 08/15/25		3,000,000	4,042,650
Enovis Corp.
3.875%, due 10/15/282		80,000	82,896
FirstEnergy Corp.
4.000%, due 05/01/262		3,500,000	3,390,937
Palo Alto Networks, Inc.
0.375%, due 06/01/25		4,000,000	9,690,000
Parsons Corp.
0.250%, due 08/15/25		600,000	790,296
Patrick Industries, Inc.
1.750%, due 12/01/28		450,000	422,617
Royal Caribbean Cruises Ltd.
6.000%, due 08/15/25		4,750,000	8,709,220

PACE Alternative Strategies Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Face amount3		Value
Corporate bonds—(continued)
United States—(continued)
Seagate HDD Cayman
3.500%, due 06/01/282	$	500,000	$	515,455
Transocean, Inc.
4.625%, due 09/30/29		1,413,000		3,013,036
Wayfair, Inc.
3.500%, due 11/15/282		1,500,000		1,734,780
				36,007,732
Total corporate bonds (cost—$36,016,523)				37,725,860

	Number of shares
Short term investments—30.2%
Investment companies—30.2%
State Street Institutional U.S. Government Money Market Fund, 5.301% (cost—$105,533,409)		105,533,409	105,533,409

	Number of contracts		Notional amount
Equity and foreign exchange options purchased—0.8%
Call options—0.3%
Call Eurex Dow Jones EURO STOXX 50 Dividend Futures, strike @130.00, expires 12/20/24 (Counterparty: JPMCB)		233		30,290	509,100
Call Nikkei 225 Index, strike @33,000.000, expires 12/08/23 (Counterparty: JPMCB)		20		660,000	15,834
Call FTSE 100 Index, strike @7,750.000, expires 12/15/23 (Counterparty: JPMCB)		35		271,250	8,721

PACE Alternative Strategies Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Number of contracts		Notional amount		Value
Equity and foreign exchange options purchased—(continued)
Call options—(continued)
Call STOXX Europe 600 Basic Resources Index, strike @530.000, expires 12/15/23 (Counterparty: JPMCB)		93	$	49,290	$	118,084
Call S&P 500 Index, strike @4,475.000, expires 12/15/23 (Counterparty: JSFL)		28		125,300		23,940
Call EURO STOXX 50 Index, strike @4,200.000, expires 12/18/26 (Counterparty: JPMCB)		107		449,400		468,377
Total						1,144,056
Put options—0.5%
Put Cinemark Holdings, Inc., strike @5.000, expires 01/19/24 (Counterparty: MSCI)		1,425		7,125		14,250
Put Transocean Ltd., strike @1.500, expires 01/19/24 (Counterparty: MSCI)		2,651		3,976		2,651
Put EURO STOXX 50 Index, strike @3,100.000, expires 06/21/24 (Counterparty: JPMCB)		22		68,200		8,450
Put EURO STOXX 50 Index, strike @3,200.000, expires 06/21/24 (Counterparty: JPMCB)		95		304,000		44,028
Put Royal Caribbean Cruises Ltd., strike @30.000, expires 01/19/24 (Counterparty: MSCI)		550		16,500		550
Put Live Nation Entertainment, Inc., strike @45.000, expires 01/19/24 (Counterparty: MSCI)		35		1,575		175
Put United States Steel Corp., strike @15.000, expires 01/19/24 (Counterparty: MSCI)		75		1,125		225
Put Invesco QQQ Trust, strike @358.000, expires 12/15/23 (Counterparty: GSI)		3		1,074		3,954
Put Industrial Select Sector SPDR Fund, strike @103.000, expires 12/15/23 (Counterparty: GSI)		23		2,369		5,957
Put SPDR S&P 500 ETF Trust, strike @430.000, expires 12/15/23 (Counterparty: GSI)		3		1,290		4,455
Put EURO STOXX 50 Index, strike @3,400.000, expires 12/15/23 (Counterparty: JPMCB)		197		669,800		13,757
Put S&P 500 Index, strike @3,600.000, expires 12/15/23 (Counterparty: JPMCB)		21		75,600		13,272
Put iShares Russell 2000 ETF, strike @172.000, expires 12/15/23 (Counterparty: GSI)		9		1,548		7,677
Put Industrial Select Sector SPDR Fund, strike @100.000, expires 12/15/23 (Counterparty: GSI)		19		1,900		5,586
Put FirstEnergy Corp., strike @25.000, expires 04/19/24 (Counterparty: MSCI)		25		625		375

PACE Alternative Strategies Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Number of contracts		Notional amount		Value
Equity and foreign exchange options purchased—(continued)
Put options—(continued)
Put Wayfair, Inc., strike @17.500, expires 01/19/24 (Counterparty: MSCI)		35	$	613	$	525
Put Wayfair, Inc., strike @15.000, expires 01/19/24 (Counterparty: MSCI)		235		3,525		940
Put Wayfair, Inc., strike @30.000, expires 05/17/24 (Counterparty: MSCI)		35		1,050		13,300
Put S&P 500 Index, strike @4,385.000, expires 12/15/23 (Counterparty: JSFL)		8		35,080		160,000
Put EURO STOXX 50 Index, strike @3,800.000, expires 12/18/26 (Counterparty: JPMCB)		329		1,250,200		1,228,846
Put EURO STOXX 50 Index, strike @4,200.000, expires 12/20/24 (Counterparty: JPMCB)		58		243,600		210,683
Total						1,739,656
Total equity and foreign exchange options purchased (cost—$3,112,307)						2,883,712
Total Investments before Investments Sold Short (cost—$325,956,814)—91.4%						319,417,698

	Number of shares
Investments sold short—(25.6%)
Common stocks—(22.3%)
Australia—(0.1%)
De Grey Mining Ltd.		(318,638	)	(239,489	)
Mineral Resources Ltd.		(982	)	(36,194	)
				(275,683	)
Brazil—(0.1%)
ERO Copper Corp.		(14,330	)	(194,477	)
Canada—(3.1%)
Allied Properties Real Estate Investment Trust		(13,980	)	(159,786	)
Automotive Properties Real Estate Investment Trust		(1,720	)	(12,267	)

PACE Alternative Strategies Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Number of shares			Value
Investments sold short—(continued)
Common stocks—(continued)
Canada—(continued)
Ballard Power Systems, Inc.		(24,300	)	$	(81,131	)
Bank of Montreal		(2,640	)		(199,492	)
Baytex Energy Corp.		(71,630	)		(309,919	)
BCE, Inc.		(15,500	)		(575,403	)
Birchcliff Energy Ltd.		(21,460	)		(118,539	)
Boston Pizza Royalties Income Fund		(6,170	)		(65,271	)
CAE, Inc.		(21,470	)		(448,366	)
Canadian National Railway Co.		(14,670	)		(1,552,211	)
Canadian Tire Corp. Ltd.		(4,820	)		(464,917	)
Cascades, Inc.		(11,670	)		(94,589	)
Colliers International Group, Inc.		(920	)		(83,399	)
CT Real Estate Investment Trust		(18,870	)		(172,133	)
Descartes Systems Group, Inc.		(4,870	)		(351,989	)
Dream Industrial Real Estate Investment Trust		(14,030	)		(118,472	)
Dream Office Real Estate Investment Trust		(9,760	)		(53,489	)
Enbridge, Inc.		(15,570	)		(498,959	)
Fiera Capital Corp.		(11,130	)		(37,401	)
Filo Corp.		(15,800	)		(205,767	)
Granite Real Estate Investment Trust		(4,120	)		(187,617	)
Hydro One Ltd.		(8,130	)		(210,820	)
Imperial Oil Ltd.		(3,750	)		(213,710	)
Ivanhoe Mines Ltd.		(8,500	)		(62,643	)
Lithium Americas Argentina Corp.		(15,600	)		(86,282	)
Lithium Americas Corp.		(13,800	)		(92,647	)
Loblaw Cos. Ltd.		(2,140	)		(175,027	)
Magna International, Inc.		(1,500	)		(72,082	)
NexGen Energy Ltd.		(74,500	)		(449,659	)
Nexus Industrial REIT		(15,630	)		(73,261	)
Northland Power, Inc.		(6,010	)		(84,467	)
Nutrien Ltd.		(4,290	)		(230,409	)
Pan American Silver Corp.		(2,400	)		(35,063	)
Paramount Resources Ltd.		(12,150	)		(292,021	)
Power Corp. of Canada		(19,180	)		(462,090	)
Premium Brands Holdings Corp.		(6,170	)		(397,229	)
RioCan Real Estate Investment Trust		(38,710	)		(470,354	)
Sleep Country Canada Holdings, Inc.		(17,210	)		(271,414	)
SmartCentres Real Estate Investment Trust		(7,970	)		(123,508	)
TC Energy Corp.		(1,649	)		(56,792	)
TELUS Corp.		(36,420	)		(587,237	)
TMX Group Ltd.		(4,220	)		(87,884	)
Whitecap Resources, Inc.		(54,690	)		(422,376	)
					(10,748,092	)

PACE Alternative Strategies Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Number of shares			Value
Investments sold short—(continued)
Common stocks—(continued)
China—(0.0%)†
NIO, Inc.		(4,212	)	$	(30,747	)
Denmark—(0.0%)†
Vestas Wind Systems AS		(4,582	)		(99,314	)
France—(0.5%)
Airbus SE		(5,814	)		(779,519	)
Edenred SE		(12,860	)		(684,557	)
Gecina SA		(1,187	)		(116,552	)
					(1,580,628	)
Germany—(0.2%)
adidas AG		(1,791	)		(318,454	)
HelloFresh SE		(1,313	)		(28,719	)
Symrise AG		(3,266	)		(333,750	)
					(680,923	)
Hong Kong—(0.0%)†
Prudential PLC		(4,746	)		(49,626	)
Italy—(0.1%)
Amplifon SpA		(13,335	)		(376,893	)
Salvatore Ferragamo SpA		(3,770	)		(46,126	)
					(423,019	)
Japan—(0.4%)
Daiichi Sankyo Co. Ltd.		(21,800	)		(562,096	)
Eisai Co. Ltd.		(15,300	)		(810,568	)
GMO Payment Gateway, Inc.		(200	)		(7,988	)
Septeni Holdings Co. Ltd.		(44,500	)		(125,092	)
					(1,505,744	)
Netherlands—(0.1%)
Argenx SE		(1,085	)		(510,364	)
Norway—(0.0%)†
FREYR Battery SA		(46,493	)		(149,242	)
South Africa—(0.2%)
Gold Fields Ltd.		(46,860	)		(610,117	)
South Korea—(0.1%)
Delivery Hero SE		(6,804	)		(173,884	)
Spain—(0.3%)
Cellnex Telecom SA		(21,458	)		(630,781	)
Corp. ACCIONA Energias Renovables SA		(8,673	)		(234,923	)
EDP Renovaveis SA		(9,557	)		(153,743	)
					(1,019,447	)
Sweden—(0.3%)
EQT AB		(16,096	)		(294,071	)
PowerCell Sweden AB		(9,594	)		(38,762	)
Sagax AB		(32,866	)		(594,970	)
					(927,803	)
United Kingdom—(0.2%)
Ceres Power Holdings PLC		(12,826	)		(30,893	)
ITM Power PLC		(96,859	)		(76,255	)

PACE Alternative Strategies Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Number of shares			Value
Investments sold short—(continued)
Common stocks—(continued)
United Kingdom—(continued)
Ocado Group PLC		(31,105	)	$	(176,525	)
Petrofac Ltd.		(33,187	)		(18,982	)
Segro PLC		(28,217	)		(245,266	)
Wise PLC		(4,911	)		(39,915	)
					(587,836	)
United States—(16.1%)
Abercrombie & Fitch Co.		(4,390	)		(267,000	)
Accenture PLC		(2,578	)		(765,898	)
Aclaris Therapeutics, Inc.		(3,425	)		(17,057	)
Acuity Brands, Inc.		(1,617	)		(261,905	)
Akamai Technologies, Inc.		(1,780	)		(183,927	)
Alaska Air Group, Inc.		(1,160	)		(36,691	)
Albemarle Corp.		(496	)		(62,883	)
Allegiant Travel Co.		(560	)		(37,307	)
Allegion PLC		(1,328	)		(130,622	)
Alnylam Pharmaceuticals, Inc.		(2,472	)		(375,250	)
American Eagle Outfitters, Inc.		(14,858	)		(259,569	)
American Electric Power Co., Inc.		(524	)		(39,583	)
American Express Co.		(3,002	)		(438,382	)
American Water Works Co., Inc.		(807	)		(94,944	)
Apogee Enterprises, Inc.		(1,106	)		(47,470	)
Apple, Inc.		(4,541	)		(775,467	)
Bank OZK		(2,100	)		(75,201	)
Beyond Meat, Inc.		(7,085	)		(42,297	)
BJ's Restaurants, Inc.		(5,970	)		(153,548	)
Blackstone, Inc.		(2,060	)		(190,241	)
Bloomin' Brands, Inc.		(127,848	)		(2,983,972	)
Boeing Co.		(540	)		(100,883	)
Calix, Inc.		(3,907	)		(129,400	)
Carrier Global Corp.		(1,034	)		(49,280	)
Caterpillar, Inc.		(194	)		(43,854	)
CBRE Group, Inc.		(2,789	)		(193,389	)
Ceridian HCM Holding, Inc.		(1,447	)		(92,622	)
CH Robinson Worldwide, Inc.		(1,970	)		(161,205	)
Cheesecake Factory, Inc.		(4,370	)		(135,776	)
Cinemark Holdings, Inc.		(167,224	)		(2,757,524	)
Clear Channel Outdoor Holdings, Inc.		(103,519	)		(113,871	)
Comcast Corp.		(15,809	)		(652,754	)
Copart, Inc.		(7,550	)		(328,576	)
Core Laboratories, Inc.		(4,387	)		(93,970	)
CoStar Group, Inc.		(2,276	)		(167,081	)
Cracker Barrel Old Country Store, Inc.		(1,350	)		(89,586	)
Crowdstrike Holdings, Inc.		(3,709	)		(655,640	)
CSX Corp.		(4,200	)		(125,370	)
CVB Financial Corp.		(8,510	)		(132,926	)
Deere & Co.		(660	)		(241,138	)
Dine Brands Global, Inc.		(1,770	)		(87,243	)
DoorDash, Inc.		(8,504	)		(637,375	)

PACE Alternative Strategies Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Number of shares			Value
Investments sold short—(continued)
Common stocks—(continued)
United States—(continued)
Dynex Capital, Inc.		(49,303	)	$	(495,002	)
Eaton Corp. PLC		(119	)		(24,741	)
Enovis Corp.		(825	)		(37,868	)
Enphase Energy, Inc.		(944	)		(75,124	)
Exelon Corp.		(6,030	)		(234,808	)
Expeditors International of Washington, Inc.		(2,290	)		(250,182	)
Ferrovial SE		(5,105	)		(153,640	)
Figs, Inc.		(4,322	)		(23,814	)
FirstEnergy Corp.		(12,709	)		(452,440	)
FuelCell Energy, Inc.		(14,706	)		(16,030	)
German American Bancorp, Inc.		(3,363	)		(91,911	)
Helen of Troy Ltd.		(760	)		(74,723	)
Hershey Co.		(620	)		(116,157	)
Home Depot, Inc.		(2,310	)		(657,634	)
Hubbell, Inc.		(1,000	)		(270,100	)
ImmunityBio, Inc.		(75,668	)		(237,598	)
J M Smucker Co.		(4,160	)		(473,574	)
JB Hunt Transport Services, Inc.		(290	)		(49,842	)
Joby Aviation, Inc.		(42,525	)		(224,107	)
Johnson Controls International PLC		(4,794	)		(235,002	)
Kennametal, Inc.		(19,700	)		(455,267	)
Kinder Morgan, Inc.		(1,979	)		(32,060	)
Knight-Swift Transportation Holdings, Inc.		(1,620	)		(79,202	)
Kroger Co.		(8,046	)		(365,047	)
Landstar System, Inc.		(360	)		(59,321	)
Lucid Group, Inc.		(110,374	)		(454,741	)
Luminar Technologies, Inc.		(58,734	)		(186,187	)
MarineMax, Inc.		(3,124	)		(85,535	)
Martin Marietta Materials, Inc.		(311	)		(127,180	)
Micron Technology, Inc.		(5,286	)		(353,475	)
MongoDB, Inc.		(845	)		(291,179	)
NextDecade Corp.		(40,691	)		(178,633	)
NEXTracker, Inc.		(712	)		(24,749	)
Norfolk Southern Corp.		(570	)		(108,750	)
NuScale Power Corp.		(9,638	)		(32,576	)
NVIDIA Corp.		(326	)		(132,943	)
Old Dominion Freight Line, Inc.		(390	)		(146,897	)
OneMain Holdings, Inc.		(3,520	)		(126,474	)
Oracle Corp.		(7,607	)		(786,564	)
Oshkosh Corp.		(6,714	)		(589,019	)
PACCAR, Inc.		(1,930	)		(159,283	)
Palo Alto Networks, Inc.		(40,320	)		(9,798,566	)
Parsons Corp.		(10,701	)		(605,142	)
Patrick Industries, Inc.		(2,697	)		(202,680	)
Paylocity Holding Corp.		(1,709	)		(306,595	)
PepsiCo, Inc.		(750	)		(122,460	)

PACE Alternative Strategies Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Number of shares			Value
Investments sold short—(continued)
Common stocks—(continued)
United States—(continued)
Phathom Pharmaceuticals, Inc.		(8,196	)	$	(76,223	)
Pliant Therapeutics, Inc.		(7,139	)		(104,729	)
Polaris, Inc.		(1,810	)		(156,420	)
Pool Corp.		(310	)		(97,889	)
PotlatchDeltic Corp.		(4,070	)		(174,399	)
QuantumScape Corp.		(41,891	)		(218,671	)
Ralph Lauren Corp.		(960	)		(108,029	)
Raymond James Financial, Inc.		(3,653	)		(348,642	)
Rivian Automotive, Inc.		(30,157	)		(489,147	)
ROBLOX Corp.		(19,589	)		(623,126	)
Rockwell Automation, Inc.		(1,009	)		(265,175	)
Royal Caribbean Cruises Ltd.		(87,213	)		(7,389,557	)
Schlumberger NV		(9,297	)		(517,471	)
Schneider National, Inc.		(3,260	)		(82,576	)
Seagate Technology Holdings PLC		(3,335	)		(227,614	)
SEI Investments Co.		(2,860	)		(153,468	)
ServisFirst Bancshares, Inc.		(4,290	)		(202,316	)
Sherwin-Williams Co.		(259	)		(61,696	)
Simpson Manufacturing Co., Inc.		(2,888	)		(384,624	)
Smartsheet, Inc.		(18,154	)		(717,809	)
Snap, Inc.		(53,227	)		(532,802	)
Snowflake, Inc.		(975	)		(141,502	)
SolarEdge Technologies, Inc.		(292	)		(22,177	)
Solid Power, Inc.		(90,773	)		(119,820	)
Southwest Airlines Co.		(1,540	)		(34,234	)
Synchrony Financial		(5,410	)		(151,751	)
T Rowe Price Group, Inc.		(2,150	)		(194,575	)
Tellurian, Inc.		(73,719	)		(50,866	)
Tesla, Inc.		(539	)		(108,253	)
Texas Roadhouse, Inc.		(4,490	)		(455,915	)
Thor Industries, Inc.		(1,760	)		(154,757	)
Toast, Inc.		(23,175	)		(370,568	)
Trade Desk, Inc.		(8,366	)		(593,651	)
Transocean Ltd.		(404,270	)		(2,676,267	)
TuSimple Holdings, Inc.		(6,824	)		(7,302	)
United Airlines Holdings, Inc.		(1,010	)		(35,360	)
Upstart Holdings, Inc.		(4,399	)		(105,708	)
Uranium Energy Corp.		(63,587	)		(378,343	)
Valero Energy Corp.		(2,771	)		(351,917	)
Velo3D, Inc.		(26,417	)		(34,870	)
Virgin Galactic Holdings, Inc.		(127,168	)		(188,209	)
Wayfair, Inc.		(27,842	)		(1,186,348	)
WEC Energy Group, Inc.		(1,102	)		(89,692	)
Werner Enterprises, Inc.		(1,920	)		(69,734	)
Western Digital Corp.		(18,459	)		(741,129	)
Williams Cos., Inc.		(1,101	)		(37,874	)
Wolfspeed, Inc.		(8,324	)		(281,684	)
YETI Holdings, Inc.		(6,277	)		(266,898	)

PACE Alternative Strategies Investments

Portfolio of investments – October 31, 2023 (unaudited)

	Number of shares			Value
Investments sold short—(continued)
Common stocks—(continued)
United States—(continued)
Zillow Group, Inc.		(5,252	)	$	(190,385	)
					(56,205,671	)
Total common stocks (proceeds—$(76,893,177))					(75,772,617	)
Preferred stocks—(0.0%)†
Germany—(0.0%)†
Sartorius AG, (proceeds)—$(115,588))		(317	)		(79,453	)
Exchange traded funds: (3.4)%
BMO S&P 500 Index ETF		(11,750	)		(539,055	)
SPDR S&P 500 ETF Trust		(7,885	)		(3,297,507	)
SPDR Bloomberg High Yield Bond ETF		(18,600	)		(1,653,912	)
Invesco QQQ Trust		(1,190	)		(417,535	)
iShares Core S&P/TSX Capped Composite Index ETF		(90,280	)		(1,956,311	)
iShares Russell 2000 ETF		(18,717	)		(3,079,321	)
SPDR Dow Jones Industrial Average ETF Trust		(1,720	)		(568,426	)
iShares U.S. Real Estate ETF		(2,010	)		(151,413	)
ARK Innovation ETF		(1,172	)		(41,114	)
Invesco Solar ETF		(1,393	)		(58,478	)
iShares Semiconductor ETF		(501	)		(221,638	)
Total exchange traded funds (proceeds—(12,651,261))					(11,984,710	)
Investment companies—(0.4%)
Industrial Select Sector SPDR Fund		(13,683	)		(1,345,860	)
Utilities Select Sector SPDR Fund		(1,018	)		(60,764	)
Total investment companies (proceeds—$(1,431,271))					(1,406,624	)

	Face amount
Corporate bonds—(0.0%)†
United States—(0.0%)†
Patrick Industries, Inc.
4.750%, due 05/01/29 (proceeds—$(98,000))	$	(100,000	)		(81,149	)
Total investments sold short (proceeds—$(91,189,297))					(89,324,553	)
Other assets in excess of liabilities—34.2%					119,445,368
Net Assets—100.0%				$	349,538,513

PACE Alternative Strategies Investments

Portfolio of investments – October 31, 2023 (unaudited)

For a listing of defined portfolio acronyms that are used throughout the Portfolio of investments as well as the tables that follow, please refer to the Glossary of terms used in the Portfolio of investments.

Equity Options written

Notional amount		Number of contracts	Call options	Counterparty	Expiration date	Premiums received		Current Value			Unrealized appreciation (depreciation)
EUR	32,620	233	Call Eurex Dow Jones EURO STOXX 50 Dividend Futures, strike @ 140.000	BNP	12/20/24	$	84,398	$	(295,105	)	$	(210,707	)
EUR	243,600	58	Call EURO STOXX 50 Index, strike @ 4,200.000	JPMCB	12/20/24		165,741		(146,674	)		19,067
GBP	274,750	35	Call FTSE 100 Index, strike @ 7,850.000	JPMCB	12/15/23		29,364		(4,680	)		24,684
JPY	680,000	20	Call Nikkei 225 Index, strike @ 34,000.000	JPMCB	12/08/23		65,483		(5,146	)		60,337
USD	127,400	28	Call S&P 500 Index, strike @ 4,550.000	JSFL	12/15/23		84,204		(8,960	)		75,244
USD	35,080	8	Call S&P 500 Index, strike @ 4,385.000	JSFL	12/15/23		80,706		(18,640	)		62,066
Total						$	509,896	$	(479,205	)	$	30,691

PACE Alternative Strategies Investments

Portfolio of investments – October 31, 2023 (unaudited)

Notional amount		Number of contracts	Put options	Counterparty	Expiration date	Premiums received		Current Value			Unrealized appreciation (depreciation)
EUR	49,290	93	Put STOXX Europe 600 Basic Resources Index, strike @ 530.000	JPMCB	12/15/23	$	118,852	$	(84,627	)	$	34,225
EUR	6,555	69	Put Eurex Dow Jones EURO STOXX 50 Dividend Futures, strike @ 95.000	JPMCB	12/20/24		31,094		(2,263	)		28,831
EUR	31,200	312	Put Eurex Dow Jones EURO STOXX 50 Dividend Futures, strike @ 100.000	JPMCB	12/20/24		106,369		(14,196	)		92,173
EUR	25,630	233	Put Eurex Dow Jones EURO STOXX 50 Dividend Futures, strike @ 110.000	BNP	12/20/24		103,602		(17,997	)		85,605
EUR	722,000	190	Put EURO STOXX 50 Index, strike @ 3,800.000	JPMCB	12/20/24		394,076		(392,026	)		2,050
EUR	449,400	107	Put EURO STOXX 50 Index, strike @ 4,200.000	JPMCB	12/18/26		548,207		(580,236	)		(32,029	)
GBP	74,500	10	Put FTSE 100 Index, strike @ 7,450.000	JPMCB	12/15/23		12,125		(24,552	)		(12,427	)
JPY	254,000	8	Put Nikkei 225 Index, strike @ 31,750.000	JPMCB	12/08/23		43,484		(69,932	)		(26,448	)
USD	3,538	58	Put Utilities Select Sector SPDR Fund, strike @ 61.000	WFB	12/15/23		6,070		(12,818	)		(6,748	)
USD	34,000	8	Put S&P 500 Index, strike @ 4,250.000	JSFL	12/15/23		57,387		(90,840	)		(33,453	)
Total						$	1,421,266	$	(1,289,487	)	$	131,779
Total equity options written						$	1,931,162	$	(1,768,692	)	$	162,470

Futures contracts

Number of contracts	Currency		Expiration date	Current notional amount			Value			Unrealized appreciation (depreciation)
Index futures buy contracts:
14	USD	CBOE Volatility Index Futures	November 2023	$	275,975		$	253,775		$	(22,200)
40	EUR	EURO STOXX 50 Index Futures	December 2023		1,778,751			1,722,587			(56,164)
18	USD	S&P 500 E-Mini Index Futures	December 2023		3,835,484			3,791,025			(44,459)
7	USD	SGX FTSE China A50 Index Futures	November 2023		82,471			83,979			1,508
69	EUR	VSTOXX Index Futures	February 2024		150,440			145,288			(5,152)
Total				$	6,123,121		$	5,996,654		$	(126,467)
Index futures sell contracts:
14	USD	CBOE Volatility Index Futures	February 2024	$	(290,675	)	$	(280,014	)	$	10,661
31	USD	E-Mini Russel 2000 Index Futures	December 2023		(2,887,155	)		(2,586,020	)		301,135
3	EUR	EURO STOXX 50 Index Futures	December 2023		(134,113	)		(129,194	)		4,919
148	EUR	EURO STOXX 600 Index Futures	December 2023		(3,593,497	)		(3,404,459	)		189,038
25	USD	MSCI World Index Futures	December 2023		(2,334,156	)		(2,162,000	)		172,156
4	JPY	OSE Nikkei 225 Index Futures	December 2023		(857,688	)		(814,119	)		43,569
2	USD	S&P 500 E-Mini Index Futures	December 2023		(453,911	)		(421,225	)		32,686
69	EUR	VSTOXX Index Futures	November 2023		(153,277	)		(142,002	)		11,275
Interest rate futures sell contracts:
13	JPY	Japan Government Bond 10 Year Futures	December 2023		(12,511,607	)		(12,328,880	)		182,727
Total				$	(23,216,079	)	$	(22,267,913	)	$	948,166
Net unrealized appreciation (depreciation)										$	821,699

PACE Alternative Strategies Investments

Portfolio of investments – October 31, 2023 (unaudited)

Centrally cleared credit default swap agreements on credit indices—sell protection⁵

Referenced obligations	Notional amount (000)		Maturity date	Payment frequency	Payments made by the Portfolio6			Upfront payments received (made)			Value			Unrealized appreciation (depreciation)
CDX.NA.HY.S41	USD	8,985,000	12/20/28	Quarterly		5.000	%	$	(77,701	)	$	(7,446	)	$	(85,147	)

Centrally cleared credit default swap agreements on corporate issues—sell protection⁵

Referenced obligations	Notional amount (000)		Maturity date	Payment frequency	Payments made by the Portfolio6			Upfront payments received (made)			Value		Unrealized appreciation (depreciation)
iTraxx Europe Crossover S40	EUR	8,235,000	06/20/28	Quarterly		5.000	%	$	(327,209	)	$	220,440	$	(106,769	)

PACE Alternative Strategies Investments

Portfolio of investments – October 31, 2023 (unaudited)

Centrally cleared interest rate swap agreements

Notional amount (000)		Maturity date	Payment frequency	Payments made by the portfolio6	Payments received by the portfolio6	Value			Unrealized appreciation (depreciation)
GBP	68,775	06/19/25	Annual	5.560%	12 Month GBPSONIA	$	515,900		$	515,900
GBP	10,278	06/19/25	Annual	5.924	12 Month GBPSONIA		119,110			119,110
GBP	8,382	12/20/28	Annual	4.646	12 Month GBPSONIA		76,277			76,277
GBP	4,615	12/20/28	Annual	4.684	12 Month GBPSONIA		51,260			51,260
GBP	3,768	12/20/28	Annual	4.687	12 Month GBPSONIA		42,449			42,449
GBP	40,000	09/25/25	At Maturity	4.826	12 Month GBPSONIA		57,811			57,811
GBP	39,710	09/25/25	At Maturity	4.804	12 Month GBPSONIA		47,714			47,714
JPY	3,116,747	12/20/28	Annual	12 Month JPY TONA	0.580		146,049			146,139
JPY	2,524,550	12/20/28	Annual	12 Month JPY TONA	0.659		52,823			52,896
JPY	1,195,671	06/21/33	Annual	12 Month JPY TONA	0.621		350,475			350,501
JPY	445,643	09/20/33	Annual	12 Month JPY TONA	0.619		145,281			145,290
JPY	1,237,600	12/20/33	Annual	12 Month JPY TONA	0.956		178,747			154,237
KRW	14,336,140	09/20/33	Quarterly	3.305	3 Month KRW COD Rate		(727,929	)		(727,929	)
KRW	8,350,000	09/20/33	Quarterly	3.731	3 Month KRW COD Rate		(203,646	)		(203,646	)
KRW	7,609,986	12/20/33	Quarterly	4.055	3 Month KRW COD Rate		(36,240	)		(36,240	)
USD	49,700	09/25/25	Annual	12 Month SOFR	4.600		(8,732	)		(8,732	)
USD	49,700	09/25/25	Annual	12 Month SOFR	4.594		(5,755	)		(5,755	)
Total						$	801,594		$	777,282

PACE Alternative Strategies Investments

Portfolio of investments – October 31, 2023 (unaudited) 

OTC Total return swap agreements

Counterparty	Notional amount (000)		Maturity Date	Payment frequency	Payment made by the Portfolio6		Payments received by the Portfolio6	Upfront payments received (made)		Value			Unrealized appreciation (depreciation)
GSI	USD	3	10/18/24	At Maturity		BAV8A6HZ6 TRS USD R E REC EQ USGSFXI003.I	0.000%	$	—	$	(5,286	)	$	(5,286	)
JPMCB	USD	7	11/01/23	At Maturity		0.000%	GCI Liberty, Inc.		—		329			329
JPMCB	USD	29	11/01/23	At Maturity		0.000	Chinook Therapeutics, Inc.		—		11,268			11,268
JPMCB	USD	43	07/11/24	At Maturity		5.620	PNM Resources, Inc.		—		(60,020	)		(60,020	)
JPMCB	USD	8	07/11/24	At Maturity		5.620	VMware, Inc.		—		(157,779	)		(157,779	)
JPMCB	USD	1	07/11/24	At Maturity		Broadcom, Inc.	4.964		—		(16,564	)		(16,564	)
JPMCB	USD	3	08/09/24	At Maturity		5.620	iRobot Corp.		—		(11,520	)		(11,520	)
JPMCB	USD	8	09/30/24	At Maturity		Provident Financial Services, Inc.	5.020		—		10,192			10,192
JPMCB	USD	10	09/30/24	At Maturity		5.620	Lakeland Bancorp, Inc.		—		(13,183	)		(13,183	)
JPMCB	USD	90	10/18/24	At Maturity		5.620	Albertsons Cos., Inc.		—		(100,696	)		(100,696	)
JPMCB	DKK	19	12/16/24	At Maturity		4.200	Chr Hansen Holding AS		—		93,873			93,873
JPMCB	DKK	30	12/16/24	At Maturity		Novozymes AS	3.403		—		(95,418	)		(95,418	)
JPMCB	EUR	18	02/24/25	At Maturity		3.984	Veolia Environnement SA		—		(4,561	)		(4,561	)
JPMCB	EUR	17	02/26/25	At Maturity		0.000	Engie SA		—		3,462			3,462
JPMCB	EUR	31	02/26/25	At Maturity		0.000	Siemens Energy AG		—		(76,443	)		(76,443	)
JPMCB	EUR	1	03/10/25	At Maturity		STOXX Europe 600 Industrial Goods & Services Index	0.000		—		11,997			11,997
JPMCB	EUR	1	03/10/25	At Maturity		Eurex STOXX 600 Utilities Index	0.000		—		(6,259	)		(6,259	)
JPMCB	GBP	5	03/10/25	At Maturity		0.000	Shell PLC		—		(6,645	)		(6,645	)
JPMCB	USD	—	03/12/25	At Maturity		Ecopro Co. Ltd.	0.000		—		405			405
JPMCB	USD	—	03/12/25	At Maturity		Ecopro BM Co. Ltd.	0.000		—		371			371
JPMCB	USD	—	03/12/25	At Maturity		LG Energy Solution Ltd.	0.000		—		9,018			9,018
JPMCB	USD	7	03/17/25	At Maturity		5.620	Seagen, Inc.		—		(6,813	)		(6,813	)
JPMCB	USD	12	05/08/25	At Maturity		5.620	Amedisys, Inc.		—		(11,969	)		(11,969	)
JPMCB	USD	9	07/07/25	At Maturity		5.620	American Equity Investment Life Holding Co.		—		(3,929	)		(3,929	)
JPMCB	USD	1	07/07/25	At Maturity		Brookfield Asset Management	5.020		—		2,419			2,419

PACE Alternative Strategies Investments

Portfolio of investments – October 31, 2023 (unaudited) 

Counterparty	Notional amount (000)		Maturity Date	Payment frequency	Payment made by the Portfolio6		Payments received by the Portfolio6	Upfront payments received (made)		Value			Unrealized appreciation (depreciation)
JPMCB	USD	34	07/28/25	At Maturity		Exxon Mobil Corp.	5.020%	$	—	$	103,872		$	103,872
JPMCB	USD	16	07/28/25	At Maturity		5.620%	Denbury, Inc.		—		(39,459	)		(39,459	)
JPMCB	USD	—	08/11/25	At Maturity		5.620	Sovos Brands, Inc.		—		(47	)		(47	)
JPMCB	JPY	1	08/12/25	At Maturity		Daikin Industries Ltd.	(0.019)		—		1,566			1,566
JPMCB	USD	27	08/14/25	At Maturity		5.620	Capri Holdings Ltd.		—		(3,747	)		(3,747	)
JPMCB	USD	8	08/25/25	At Maturity		5.620	Earthstone Energy, Inc.		—		22,270			22,270
JPMCB	USD	11	08/25/25	At Maturity		Permian Resources Corp.	5.020		—		(22,099	)		(22,099	)
JPMCB	USD	71	08/29/25	At Maturity		5.620	Abcam PLC		—		12,795			12,795
JPMCB	USD	1	09/15/25	At Maturity		J M Smucker Co.	5.020		—		3,243			3,243
JPMCB	GBP	49	09/15/25	At Maturity		Smurfit Kappa Group PLC	4.887		—		22,894			22,894
JPMCB	USD	54	09/15/25	At Maturity		5.620	Westrock Co.		—		(10,629	)		(10,629	)
JPMCB	USD	45	09/15/25	At Maturity		5.620	Hostess Brands, Inc.		—		11,748			11,748
JPMCB	HKD	2	09/22/25	At Maturity		BYD Co. Ltd.	4.113		—		474			474
JPMCB	USD	11	09/25/25	At Maturity		5.620	Splunk, Inc.		—		1,927			1,927
JPMCB	USD	22	10/06/25	At Maturity		5.620	Point Biopharma Global, Inc.		—		6,022			6,022
JPMCB	USD	19	10/10/25	At Maturity		5.620	SP Plus Corp.		—		(7,509	)		(7,509	)
JPMCB	USD	9	10/14/25	At Maturity		5.620	Pioneer Natural Resources Co.		—		(64,824	)		(64,824	)
JPMCB	USD	20	10/14/25	At Maturity		5.620	Mirati Therapeutics, Inc.		—		(22,770	)		(22,770	)
JPMCB	USD	50	10/20/25	At Maturity		5.620	Olink Holding AB		—		1,028			1,028
MSCI	USD	9	12/19/23	Monthly		1 Month USD LIBOR	5 Month USD LIBOR		—		3,741			3,741
MSCI	USD	2	10/18/24	At Maturity		BAV8A6JH4 TRS USD R E REC EQ USMSESLRLS.I	0.000		—		2,516			2,516
MSCI	USD	3	10/18/24	At Maturity		BAV8A6JP6 TRS USD R E REC EQ USMSAVL3ES.I	0.000		—		101			101
								$	—	$	(410,638	)	$	(410,638	)

PACE Alternative Strategies Investments

Portfolio of investments – October 31, 2023 (unaudited) 

Forward foreign currency contracts

Counterparty	Sell		Purchase		Settlement date	Unrealized appreciation (depreciation)
BB	BRL	809,000	USD	160,995	11/10/23	$	716
BB	BRL	811,000	USD	162,281	11/17/23		1,730
BB	BRL	808,000	USD	157,576	12/08/23		(2,014	)
BB	BRL	807,000	USD	159,316	12/28/23		257
BB	CLP	281,542,000	USD	307,129	12/07/23		(6,849	)
BB	CLP	146,788,000	USD	158,029	12/14/23		(5,589	)
BB	CLP	293,530,000	USD	313,580	12/28/23		(13,274	)
BB	COP	641,159,000	USD	148,222	12/21/23		(5,862	)
BB	GBP	1,475,251	NOK	19,560,000	12/15/23		(40,451	)
BB	GBP	130,000	USD	159,539	01/12/24		1,436
BB	JPY	23,838,000	USD	161,790	11/30/23		3,827
BB	PEN	1,208,000	USD	322,736	11/17/23		8,472
BB	PEN	606,000	USD	162,197	12/21/23		4,755
BB	SEK	1,806,000	USD	163,776	12/07/23		1,746
BB	THB	11,814,000	USD	327,780	12/28/23		(2,592	)
BB	THB	11,859,000	USD	322,378	01/05/24		(9,504	)
BB	USD	160,192	BRL	808,000	12/08/23		(602	)
BB	USD	161,672	BRL	811,000	12/14/23		(1,591	)
BB	USD	161,436	BRL	793,000	12/21/23		(5,022	)
BB	USD	157,758	BRL	811,000	01/05/24		1,949
BB	USD	155,264	BRL	789,000	01/26/24		(285	)
BB	USD	316,862	CLP	291,050,000	01/05/24		7,056
BB	USD	157,626	CLP	146,684,000	01/12/24		5,559
BB	USD	156,859	CLP	147,076,000	01/26/24		6,636
BB	USD	161,116	HUF	58,098,000	11/17/23		(772	)
BB	USD	160,673	NZD	273,000	01/19/24		(1,580	)
BB	USD	316,421	THB	11,430,000	11/30/23		2,332
BB	USD	312,340	THB	11,524,000	12/07/23		9,238
BNP	CAD	220,000	USD	160,779	12/27/23		1,973
BNP	CHF	288,000	USD	332,678	11/10/23		15,808
BNP	CHF	282,000	USD	324,564	11/24/23		13,836
BNP	CHF	289,000	USD	328,387	12/07/23		9,489
BNP	CHF	149,000	USD	164,900	12/28/23		48
BNP	CLP	139,365,000	USD	154,946	11/03/23		(769	)
BNP	CLP	140,050,000	USD	157,631	11/24/23		1,329
BNP	CLP	288,918,000	USD	301,962	12/21/23		(19,918	)
BNP	CLP	291,050,000	USD	320,756	01/05/24		(3,162	)
BNP	CNY	1,175,000	USD	161,908	11/24/23		1,014
BNP	CNY	1,187,000	USD	163,403	12/07/23		666
BNP	CNY	1,192,000	USD	163,812	12/21/23		157
BNP	COP	659,219,000	USD	161,183	11/17/23		1,568
BNP	COP	656,282,000	USD	152,231	12/14/23		(5,732	)
BNP	COP	666,148,000	USD	159,937	01/05/24		398
BNP	CZK	7,219,000	USD	326,073	11/20/23		15,380
BNP	CZK	3,664,000	USD	162,304	12/07/23		4,691
BNP	CZK	3,780,000	USD	164,120	12/14/23		1,506
BNP	CZK	3,731,000	USD	162,580	12/21/23		2,063
BNP	CZK	3,757,000	USD	160,304	01/19/24		(1,272	)
BNP	EUR	300,000	USD	330,962	11/10/23		13,432
BNP	EUR	147,000	USD	161,123	11/24/23		5,446

PACE Alternative Strategies Investments

Portfolio of investments – October 31, 2023 (unaudited) 

Counterparty	Sell		Purchase		Settlement date		Unrealized appreciation (depreciation)
BNP	EUR	308,000	USD	327,664	12/28/23	$	888
BNP	EUR	306,000	USD	322,406	01/05/24		(2,386	)
BNP	EUR	151,000	USD	160,748	01/12/24		425
BNP	GBP	134,000	USD	163,418	12/28/23		470
BNP	GBP	133,000	USD	160,880	01/05/24		(864	)
BNP	GBP	1,181,110	USD	1,439,833	01/18/24		3,333
BNP	HUF	60,030,000	USD	166,015	12/28/23		1,239
BNP	IDR	2,482,716,000	USD	160,209	11/30/23		3,946
BNP	INR	27,172,000	USD	326,830	11/20/23		600
BNP	INR	13,455,000	USD	161,291	11/30/23		(213	)
BNP	KRW	215,062,000	USD	163,292	11/30/23		3,825
BNP	KRW	216,198,000	USD	163,065	12/07/23		2,690
BNP	KRW	216,939,000	USD	164,244	12/21/23		3,170
BNP	MXN	2,821,000	USD	155,503	01/05/24		651
BNP	NOK	1,691,000	USD	158,515	11/03/23		7,135
BNP	NOK	1,715,000	USD	161,150	11/17/23		7,558
BNP	NOK	1,704,000	USD	158,439	11/24/23		5,800
BNP	NOK	1,738,000	USD	161,000	11/30/23		5,287
BNP	PEN	1,200,000	USD	320,426	11/03/23		8,056
BNP	SEK	1,758,000	USD	158,996	11/10/23		1,454
BNP	SEK	1,770,000	USD	160,104	11/17/23		1,443
BNP	SEK	1,804,000	USD	164,521	12/28/23		2,437
BNP	SGD	220,000	USD	163,052	11/30/23		2,170
BNP	SGD	223,000	USD	164,121	12/21/23		894
BNP	SGD	220,000	USD	161,175	01/19/24		(73	)
BNP	SGD	215,000	USD	157,992	01/26/24		356
BNP	THB	11,440,000	USD	320,926	02/02/24		(6	)
BNP	USD	162,329	BRL	785,000	11/03/23		(6,629	)
BNP	USD	326,302	CHF	288,000	11/10/23		(9,432	)
BNP	USD	317,768	CHF	288,000	11/30/23		(228	)
BNP	USD	163,561	CLP	139,365,000	11/03/23		(7,846	)
BNP	USD	160,602	CLP	140,018,000	11/17/23		(4,277	)
BNP	USD	159,833	CLP	140,050,000	11/24/23		(3,531	)
BNP	USD	324,600	CLP	288,918,000	12/21/23		(2,720	)
BNP	USD	158,365	CLP	151,749,000	01/19/24		10,390
BNP	USD	157,953	CLP	143,535,000	02/05/24		1,518
BNP	USD	163,927	CNY	1,193,000	11/10/23		(779	)
BNP	USD	161,236	CNY	1,175,000	11/24/23		(342	)
BNP	USD	156,024	COP	659,219,000	11/17/23		3,591
BNP	USD	159,491	COP	656,282,000	12/14/23		(1,528	)
BNP	USD	158,846	COP	689,340,000	01/12/24		5,947
BNP	USD	322,962	CZK	7,285,000	11/10/23		(9,311	)
BNP	USD	313,675	CZK	7,219,000	11/20/23		(2,981	)
BNP	USD	308,786	CZK	7,080,000	11/24/23		(4,122	)
BNP	USD	156,647	CZK	3,664,000	12/07/23		967
BNP	USD	159,079	CZK	3,731,000	12/21/23		1,438
BNP	USD	318,760	EUR	300,000	11/30/23		(974	)
BNP	USD	318,661	EUR	303,000	12/07/23		2,412
BNP	USD	327,276	EUR	308,000	12/14/23		(772	)

PACE Alternative Strategies Investments

Portfolio of investments – October 31, 2023 (unaudited) 

Counterparty	Sell		Purchase		Settlement date	Unrealized appreciation (depreciation)
BNP	USD	155,351	HUF	56,319,000	01/26/24	$	(1,362	)
BNP	USD	160,099	IDR	2,520,512,000	01/19/24		(1,518	)
BNP	USD	331,302	INR	27,342,000	11/03/23		(2,910	)
BNP	USD	163,774	KRW	217,477,000	11/10/23		(2,683	)
BNP	USD	162,502	KRW	214,965,000	11/24/23		(3,157	)
BNP	USD	159,825	KRW	214,294,000	02/02/24		(285	)
BNP	USD	156,620	MXN	2,857,000	02/06/24		(656	)
BNP	USD	163,032	NOK	1,738,000	11/30/23		(7,319	)
BNP	USD	318,150	PEN	1,200,000	11/03/23		(5,780	)
BNP	USD	165,831	SEK	1,758,000	11/10/23		(8,289	)
BNP	USD	163,534	SEK	1,806,000	12/07/23		(1,505	)
BNP	USD	165,177	SEK	1,824,000	12/14/23		(1,454	)
BNP	USD	315,651	SEK	3,455,000	01/26/24		(4,848	)
BNP	USD	159,752	SEK	1,766,000	02/02/24		(846	)
BNP	USD	164,315	SGD	222,000	11/03/23		(2,164	)
BNP	USD	160,240	SGD	218,000	11/24/23		(863	)
BNP	USD	163,137	SGD	223,000	12/21/23		90
BNP	USD	163,649	SGD	223,000	12/28/23		(371	)
BNP	USD	331,956	THB	11,859,000	01/05/24		(72	)
BNP	USD	163,690	ZAR	2,979,000	11/03/23		(3,865	)
BNP	USD	158,694	ZAR	3,083,000	01/05/24		5,802
BNP	USD	157,855	ZAR	2,981,000	02/02/24		813
BNP	ZAR	3,118,000	USD	160,931	12/07/23		(5,865	)
BNP	ZAR	3,083,000	USD	163,651	01/05/24		(845	)
BOA	CNY	1,188,000	USD	163,540	11/30/23		775
BOA	COP	664,909,000	USD	168,233	11/24/23		7,486
BOA	HUF	59,262,000	USD	163,784	01/05/24		1,268
BOA	INR	27,342,000	USD	328,446	11/10/23		96
BOA	PEN	609,000	USD	163,367	11/10/23		4,889
BOA	PEN	1,216,000	USD	317,908	01/05/24		2,160
BOA	PEN	1,226,000	USD	319,520	01/12/24		1,254
BOA	USD	163,768	CNY	1,192,000	11/03/23		(868	)
BOA	USD	161,192	COP	641,159,000	12/21/23		(7,108	)
BOA	USD	156,839	HUF	56,993,000	02/05/24		(1,226	)
BOA	USD	163,692	PEN	609,000	11/10/23		(5,214	)
BOA	USD	324,644	PEN	1,208,000	11/17/23		(10,380	)
BOA	USD	160,236	PLN	676,000	01/19/24		(157	)
CITI	BRL	811,000	USD	157,096	12/14/23		(2,985	)
CITI	BRL	793,000	USD	155,577	12/21/23		(837	)
CITI	CLP	278,504,000	USD	305,310	11/30/23		(5,414	)
CITI	CLP	146,788,000	USD	158,029	12/14/23		(5,589	)
CITI	KRW	214,965,000	USD	161,567	11/24/23		2,222
CITI	PLN	658,000	USD	160,090	11/24/23		3,913
CITI	SEK	1,824,000	USD	167,581	12/14/23		3,858
CITI	SEK	1,742,000	USD	160,383	01/12/24		3,758
CITI	SGD	217,000	USD	159,504	02/02/24		349
CITI	USD	161,988	AUD	254,000	01/05/24		(514	)
CITI	USD	161,713	BRL	809,000	11/10/23		(1,434	)
CITI	USD	158,396	BRL	820,000	01/16/24		2,868

PACE Alternative Strategies Investments

Portfolio of investments – October 31, 2023 (unaudited) 

Counterparty	Sell		Purchase		Settlement date	Unrealized appreciation (depreciation)
CITI	USD	158,296	BRL	809,000	01/19/24	$	746
CITI	USD	321,064	CLP	293,530,000	12/28/23		5,790
CITI	USD	158,441	COP	664,868,000	11/10/23		2,788
CITI	USD	160,834	HUF	60,030,000	12/28/23		3,942
CITI	USD	160,341	MXN	2,794,000	11/17/23		(5,722	)
CITI	USD	161,248	NOK	1,704,000	11/24/23		(8,609	)
CITI	USD	162,171	PLN	681,000	12/07/23		(587	)
CITI	USD	322,994	SGD	440,000	01/05/24		(714	)
CITI	USD	161,831	ZAR	3,097,000	12/21/23		3,633
CITI	USD	156,222	ZAR	2,991,000	01/26/24		3,075
CITI	ZAR	3,028,000	USD	158,601	11/24/23		(3,563	)
CITI	ZAR	3,069,000	USD	160,693	12/28/23		(3,172	)
GS	CHF	294,000	USD	333,212	12/14/23		8,510
GS	CHF	292,000	USD	328,682	12/21/23		5,902
GS	CHF	290,000	USD	324,726	01/19/24		3,068
GS	CHF	280,000	USD	317,262	01/26/24		6,458
GS	CNY	1,193,000	USD	166,510	11/10/23		3,362
GS	CZK	7,238,000	USD	330,502	11/03/23		18,782
GS	CZK	7,285,000	USD	329,191	11/10/23		15,540
GS	CZK	7,080,000	USD	320,610	11/24/23		15,944
GS	CZK	3,637,000	USD	162,241	11/30/23		5,770
GS	CZK	3,743,000	USD	162,211	12/29/23		1,166
GS	CZK	7,320,000	USD	316,972	02/02/24		2,289
GS	HUF	58,083,000	USD	159,669	11/10/23		(824	)
GS	HUF	59,361,000	USD	160,645	12/14/23		(2,541	)
GS	HUF	58,609,000	USD	158,448	12/21/23		(2,548	)
GS	IDR	2,506,220,000	USD	162,900	11/20/23		5,148
GS	INR	13,358,000	USD	159,909	11/24/23		(454	)
GS	MXN	2,819,000	USD	161,518	11/10/23		5,333
GS	MXN	2,801,000	USD	156,453	12/07/23		1,961
GS	MXN	2,843,000	USD	154,372	12/14/23		(2,255	)
GS	MXN	2,793,000	USD	153,833	12/21/23		138
GS	SGD	444,000	USD	331,400	11/14/23		6,942
GS	SGD	448,000	USD	330,406	12/14/23		2,590
GS	SGD	223,000	USD	163,768	12/28/23		490
GS	SGD	440,000	USD	321,738	01/05/24		(544	)
GS	THB	5,685,000	USD	167,531	11/03/23		9,349
GS	THB	5,775,000	USD	166,599	11/10/23		5,820
GS	THB	11,555,000	USD	328,800	11/17/23		6,912
GS	THB	11,273,000	USD	324,805	11/24/23		10,589
GS	THB	11,430,000	USD	327,441	11/30/23		8,689
GS	THB	11,524,000	USD	327,228	12/07/23		5,650
GS	THB	11,716,000	USD	331,420	12/14/23		4,252
GS	THB	11,683,000	USD	323,056	01/19/24		(4,298	)
GS	USD	160,751	CAD	219,000	01/18/24		(2,606	)
GS	USD	323,204	CHF	286,000	11/17/23		(8,302	)
GS	USD	316,536	CHF	282,000	11/24/23		(5,810	)
GS	USD	325,740	CHF	292,000	12/21/23		(2,962	)
GS	USD	168,208	CHF	149,000	12/28/23		(3,356	)

PACE Alternative Strategies Investments

Portfolio of investments – October 31, 2023 (unaudited) 

Counterparty	Sell		Purchase		Settlement date	Unrealized appreciation (depreciation)
GS	USD	164,073	CHF	147,000	01/05/24	$	(1,275	)
GS	USD	162,902	CNY	1,188,000	11/30/23		(137	)
GS	USD	162,468	CNY	1,187,000	12/07/23		270
GS	USD	323,132	CZK	7,238,000	11/03/23		(11,412	)
GS	USD	157,752	CZK	3,637,000	11/30/23		(1,281	)
GS	USD	160,328	HUF	58,571,000	12/07/23		808
GS	USD	157,565	HUF	58,357,000	01/12/24		2,311
GS	USD	158,351	HUF	58,710,000	01/19/24		2,334
GS	USD	163,942	IDR	2,523,397,000	12/14/23		(5,137	)
GS	USD	159,699	MXN	2,801,000	12/07/23		(5,207	)
GS	USD	156,810	MXN	2,821,000	01/05/24		(1,959	)
GS	USD	156,977	MXN	2,905,000	01/12/24		2,293
GS	USD	157,884	MXN	2,881,000	01/19/24		(121	)
GS	USD	165,555	NOK	1,691,000	11/10/23		(14,143	)
GS	USD	159,553	PLN	687,000	01/12/24		3,146
GS	USD	164,155	SEK	1,770,000	11/17/23		(5,494	)
GS	USD	327,034	SGD	444,000	11/17/23		(2,532	)
GS	USD	161,351	SGD	220,000	11/30/23		(470	)
GS	USD	322,750	SGD	442,000	12/07/23		574
GS	USD	162,461	THB	5,685,000	11/03/23		(4,279	)
GS	USD	163,621	THB	5,775,000	11/10/23		(2,841	)
GS	USD	326,154	THB	11,555,000	11/17/23		(4,267	)
GS	USD	324,066	THB	11,750,000	12/21/23		4,282
GS	USD	163,784	ZAR	3,103,000	11/13/23		2,553
GS	USD	161,183	ZAR	3,009,000	11/30/23		(119	)
GS	USD	163,361	ZAR	3,111,000	12/14/23		2,956
GS	USD	161,229	ZAR	3,069,000	12/28/23		2,637
GS	USD	158,318	ZAR	3,062,000	01/12/24		4,959
GS	ZAR	2,979,000	USD	159,944	11/03/23		119
GS	ZAR	3,141,000	USD	165,315	11/17/23		(3,001	)
GS	ZAR	3,009,000	USD	158,472	11/30/23		(2,592	)
GS	ZAR	3,111,000	USD	161,255	12/14/23		(5,062	)
GSI	CLP	139,365,000	USD	161,906	11/03/23		6,191
GSI	CLP	141,827,000	USD	162,590	11/10/23		4,186
GSI	CLP	140,018,000	USD	154,412	11/17/23		(1,913	)
GSI	COP	646,554,000	USD	154,496	11/03/23		(2,550	)
GSI	COP	664,868,000	USD	160,137	11/10/23		(1,092	)
GSI	COP	669,006,000	USD	161,765	11/30/23		239
GSI	COP	658,473,000	USD	154,987	12/07/23		(3,751	)
GSI	COP	659,209,000	USD	153,550	12/28/23		(4,625	)
GSI	IDR	2,465,137,000	USD	160,001	11/24/23		4,838
GSI	IDR	2,495,603,000	USD	157,253	01/05/24		225
GSI	INR	27,342,000	USD	329,632	11/03/23		1,240
GSI	INR	13,358,000	USD	159,909	11/24/23		(454	)
GSI	INR	13,598,000	USD	162,928	12/21/23		(182	)
GSI	KRW	217,477,000	USD	165,967	11/10/23		4,877
GSI	KRW	218,396,000	USD	165,383	12/14/23		3,303
GSI	KRW	219,412,000	USD	163,410	01/04/24		349
GSI	PEN	619,000	USD	159,465	01/19/24		(1,185	)

PACE Alternative Strategies Investments

Portfolio of investments – October 31, 2023 (unaudited) 

Counterparty	Sell		Purchase		Settlement date	Unrealized appreciation (depreciation)
GSI	PEN	609,000	USD	156,992	01/26/24	$	(1,024	)
GSI	PEN	1,214,000	USD	315,442	02/05/24		558
GSI	USD	160,532	BRL	811,000	11/17/23		19
GSI	USD	160,787	BRL	807,000	12/28/23		(1,729	)
GSI	USD	322,788	CLP	278,504,000	11/30/23		(12,064	)
GSI	USD	322,145	CLP	281,542,000	12/07/23		(8,167	)
GSI	USD	323,274	CLP	293,576,000	12/14/23		3,960
GSI	USD	158,623	COP	646,554,000	11/03/23		(1,577	)
GSI	USD	157,610	COP	664,909,000	11/24/23		3,137
GSI	USD	158,903	COP	669,006,000	11/30/23		2,623
GSI	USD	157,600	COP	658,473,000	12/07/23		1,139
GSI	USD	158,379	COP	659,209,000	12/28/23		(203	)
GSI	USD	155,786	COP	666,148,000	01/05/24		3,753
GSI	USD	162,932	IDR	2,506,220,000	11/20/23		(5,179	)
GSI	USD	160,407	IDR	2,465,137,000	11/24/23		(5,245	)
GSI	USD	162,460	IDR	2,482,716,000	11/30/23		(6,197	)
GSI	USD	159,893	IDR	2,495,603,000	01/05/24		(2,865	)
GSI	USD	157,102	IDR	2,495,884,000	01/26/24		(77	)
GSI	USD	158,766	IDR	2,520,891,000	02/02/24		(175	)
GSI	USD	329,064	INR	27,342,000	11/10/23		(714	)
GSI	USD	324,764	INR	27,172,000	11/20/23		1,468
GSI	USD	320,766	INR	26,716,000	11/24/23		(42	)
GSI	USD	162,032	INR	13,455,000	11/30/23		(529	)
GSI	USD	162,580	INR	13,598,000	12/21/23		530
GSI	USD	159,795	INR	13,355,000	01/19/24		235
GSI	USD	159,809	KRW	215,062,000	11/30/23		(342	)
GSI	USD	162,612	KRW	218,396,000	12/14/23		(532	)
GSI	USD	160,759	KRW	216,939,000	12/21/23		316
GSI	USD	164,132	KRW	219,412,000	01/04/24		(1,072	)
GSI	USD	160,800	KRW	215,483,000	01/12/24		(581	)
GSI	USD	161,201	KRW	217,094,000	01/19/24		285
GSI	USD	156,278	PEN	606,000	12/21/23		1,164
GSI	USD	158,717	PEN	615,000	12/28/23		1,022
GSI	USD	316,254	PEN	1,216,000	01/05/24		(506	)
HSBC	CHF	286,000	USD	329,898	11/17/23		14,996
HSBC	CNY	1,174,000	USD	161,126	01/19/24		(523	)
HSBC	EUR	300,000	USD	325,822	11/30/23		8,038
HSBC	EUR	303,000	USD	326,722	12/07/23		5,650
HSBC	EUR	308,000	USD	331,614	12/14/23		5,108
HSBC	EUR	304,000	USD	321,900	01/19/24		(968	)
HSBC	EUR	298,000	USD	318,938	02/02/24		2,246
HSBC	GBP	5,300	USD	6,426	01/18/24		(21	)
HSBC	HUF	59,121,000	USD	165,353	11/03/23		1,787
HSBC	MXN	2,784,000	USD	163,991	11/03/23		9,573
HSBC	MXN	2,794,000	USD	159,571	11/17/23		4,952
HSBC	MXN	2,730,000	USD	157,974	11/24/23		7,073
HSBC	MXN	2,729,000	USD	154,709	11/30/23		4,014
HSBC	MXN	2,837,000	USD	154,402	12/28/23		(1,535	)
HSBC	PLN	681,000	USD	154,424	12/07/23		(7,160	)

PACE Alternative Strategies Investments

Portfolio of investments – October 31, 2023 (unaudited) 

Counterparty	Sell		Purchase		Settlement date	Unrealized appreciation (depreciation)
HSBC	SEK	335,800	USD	30,510	01/18/24	$	311
HSBC	SGD	444,000	USD	328,756	11/17/23		4,256
HSBC	SGD	218,000	USD	161,563	11/24/23		2,186
HSBC	SGD	442,000	USD	326,320	12/07/23		2,994
HSBC	THB	11,750,000	USD	328,470	12/21/23		122
HSBC	THB	11,757,000	USD	321,602	01/12/24		(7,625	)
HSBC	THB	11,388,000	USD	317,570	01/26/24		(1,712	)
HSBC	USD	163,309	CNY	1,192,000	12/21/23		346
HSBC	USD	327,552	EUR	302,000	11/03/23		(7,994	)
HSBC	USD	323,056	EUR	300,000	11/10/23		(5,524	)
HSBC	USD	321,498	EUR	299,000	11/17/23		(4,937	)
HSBC	USD	323,438	EUR	306,000	12/21/23		1,082
HSBC	USD	327,102	EUR	306,000	01/05/24		(2,308	)
HSBC	USD	41,857	GBP	34,600	01/18/24		224
HSBC	USD	163,268	MXN	2,784,000	11/03/23		(8,850	)
HSBC	USD	161,718	MXN	2,819,000	11/10/23		(5,534	)
HSBC	USD	158,261	MXN	2,730,000	11/24/23		(7,360	)
HSBC	USD	159,963	MXN	2,729,000	11/30/23		(9,268	)
HSBC	USD	161,617	MXN	2,843,000	12/14/23		(4,990	)
HSBC	USD	160,863	MXN	2,793,000	12/21/23		(7,168	)
HSBC	USD	160,066	MXN	2,837,000	12/28/23		(4,129	)
HSBC	USD	154,723	MXN	2,857,000	01/26/24		1,537
HSBC	USD	159,572	PLN	705,000	01/05/24		7,405
HSBC	USD	327,428	SGD	444,000	11/14/23		(2,970	)
HSBC	USD	314,482	THB	11,273,000	11/24/23		(266	)
HSBC	USD	319,614	THB	11,716,000	12/14/23		7,554
HSBC	USD	328,554	THB	11,814,000	12/28/23		1,816
JPMCB	AUD	250,000	USD	161,457	11/24/23		2,755
JPMCB	AUD	252,000	USD	162,971	11/30/23		2,970
JPMCB	AUD	253,000	USD	163,662	12/21/23		2,907
JPMCB	CAD	218,000	USD	162,162	11/24/23		4,911
JPMCB	CZK	3,705,000	USD	159,725	01/12/24		354
JPMCB	CZK	3,636,000	USD	156,919	01/26/24		579
JPMCB	GBP	130,000	USD	166,631	11/03/23		8,622
JPMCB	GBP	71,644	USD	87,108	01/31/24		(35	)
JPMCB	HUF	58,098,000	USD	159,534	11/17/23		(811	)
JPMCB	JPY	23,446,000	USD	160,383	11/24/23		5,165
JPMCB	NOK	1,691,000	USD	158,330	11/10/23		6,918
JPMCB	NOK	122,300	USD	11,051	01/18/24		78
JPMCB	SEK	1,753,000	USD	157,983	11/24/23		802
JPMCB	SEK	1,815,000	USD	166,175	12/21/23		3,181
JPMCB	SGD	222,000	USD	167,161	11/03/23		5,010
JPMCB	USD	161,513	AUD	250,000	11/03/23		(2,920	)
JPMCB	USD	161,570	AUD	250,000	11/24/23		(2,868	)
JPMCB	USD	161,299	CAD	218,000	11/24/23		(4,049	)
JPMCB	USD	162,870	CZK	3,780,000	12/14/23		(256	)
JPMCB	USD	161,441	CZK	3,743,000	12/29/23		(395	)
JPMCB	USD	163,851	GBP	130,000	11/03/23		(5,841	)
JPMCB	USD	163,434	HUF	59,121,000	11/03/23		132

PACE Alternative Strategies Investments

Portfolio of investments – October 31, 2023 (unaudited) 

Counterparty	Sell		Purchase		Settlement date	Unrealized appreciation (depreciation)
JPMCB	USD	162,367	HUF	59,361,000	12/14/23	$	819
JPMCB	USD	163,323	JPY	23,446,000	11/24/23		(8,105	)
JPMCB	USD	164,934	JPY	23,838,000	11/30/23		(6,971	)
JPMCB	USD	163,745	SEK	1,815,000	12/21/23		(751	)
JPMCB	USD	161,329	ZAR	3,118,000	12/07/23		5,468
JPMCB	ZAR	3,103,000	USD	160,889	11/13/23		(5,447	)
MSCI	AUD	252,000	USD	163,700	11/17/23		3,764
MSCI	AUD	256,000	USD	165,368	12/14/23		2,747
MSCI	AUD	254,000	USD	163,463	12/28/23		2,032
MSCI	AUD	254,000	USD	160,868	01/05/24		(606	)
MSCI	AUD	249,000	USD	160,278	01/12/24		1,949
MSCI	AUD	247,000	USD	157,798	01/29/24		660
MSCI	BRL	1,881,000	USD	380,000	11/10/23		7,337
MSCI	BRL	811,000	USD	159,307	01/05/24		(400	)
MSCI	CHF	290,000	USD	334,534	11/03/23		15,698
MSCI	CHF	147,000	USD	161,339	01/05/24		(1,459	)
MSCI	CHF	145,000	USD	161,996	01/12/24		1,290
MSCI	CLP	311,191,728	USD	352,465	12/15/23		5,621
MSCI	EUR	306,000	USD	328,252	12/21/23		3,734
MSCI	EUR	6,700	USD	7,089	01/18/24		(26	)
MSCI	EUR	148,000	USD	158,274	01/26/24		1,040
MSCI	GBP	128,000	USD	157,063	01/26/24		1,377
MSCI	HUF	58,571,000	USD	157,141	12/07/23		(3,995	)
MSCI	KRW	526,579,970	USD	406,000	11/10/23		15,949
MSCI	NOK	3,939,800	USD	360,569	01/18/24		7,105
MSCI	PLN	705,000	USD	168,649	01/05/24		1,673
MSCI	SEK	1,756,000	USD	160,330	11/03/23		3,011
MSCI	SEK	664,515	USD	60,725	01/18/24		965
MSCI	SGD	218,000	USD	160,371	01/12/24		643
MSCI	USD	162,628	AUD	252,000	11/17/23		(2,693	)
MSCI	USD	162,024	AUD	252,000	11/30/23		(2,023	)
MSCI	USD	161,308	AUD	255,000	12/07/23		636
MSCI	USD	164,581	AUD	256,000	12/14/23		(1,961	)
MSCI	USD	162,070	AUD	254,000	12/28/23		(639	)
MSCI	USD	374,952	BRL	1,881,000	11/10/23		(2,288	)
MSCI	USD	163,414	CAD	220,000	12/27/23		(4,608	)
MSCI	USD	316,006	CHF	289,000	12/07/23		2,892
MSCI	USD	327,232	CHF	294,000	12/14/23		(2,530	)
MSCI	USD	162,920	CLP	141,827,000	11/10/23		(4,516	)
MSCI	USD	201,033	CLP	188,862,638	12/15/23		9,467
MSCI	USD	6,427	CNY	46,256	12/15/23		(80	)
MSCI	USD	3,747	DKK	26,400	01/18/24		13
MSCI	USD	157,502	EUR	147,000	11/24/23		(1,825	)
MSCI	USD	328,810	EUR	308,000	12/28/23		(2,034	)
MSCI	USD	21,903	EUR	20,700	01/18/24		81
MSCI	USD	164,364	GBP	134,000	12/28/23		(1,416	)
MSCI	USD	161,750	HUF	58,083,000	11/10/23		(1,258	)
MSCI	USD	160,809	HUF	58,609,000	12/21/23		187
MSCI	USD	158,590	HUF	59,262,000	01/05/24		3,926

PACE Alternative Strategies Investments

Portfolio of investments – October 31, 2023 (unaudited) 

Counterparty	Sell		Purchase		Settlement date	Unrealized appreciation (depreciation)
MSCI	USD	157,140	INR	13,100,000	01/29/24	$	(224	)
MSCI	USD	494,279	KRW	664,042,976	11/10/23		(2,406	)
MSCI	USD	166,073	NOK	1,691,000	11/03/23		(14,694	)
MSCI	USD	164,042	NOK	1,715,000	11/17/23		(10,449	)
MSCI	USD	43,592	NOK	488,000	01/18/24		189
MSCI	USD	157,709	NZD	269,000	01/26/24		(944	)
MSCI	USD	150,937	PLN	658,000	11/24/23		5,241
MSCI	USD	166,417	SEK	1,756,000	11/03/23		(9,097	)
MSCI	USD	161,497	SEK	1,753,000	11/24/23		(4,317	)
MSCI	USD	163,419	SEK	1,804,000	12/28/23		(1,335	)
MSCI	USD	329,104	SGD	448,000	12/14/23		(1,286	)
MSCI	USD	162,507	ZAR	3,141,000	11/17/23		5,809
MSCI	USD	159,449	ZAR	3,028,000	11/24/23		2,715
MSCI	USD	159,071	ZAR	3,015,000	01/19/24		1,602
MSCI	ZAR	3,097,000	USD	163,810	12/21/23		(1,654	)
SG	AUD	250,000	USD	166,213	11/03/23		7,620
SG	AUD	253,000	USD	165,567	11/10/23		5,031
SG	AUD	255,000	USD	163,073	12/07/23		1,129
SG	AUD	253,000	USD	161,094	01/19/24		188
SG	BRL	785,000	USD	158,907	11/03/23		3,207
SG	CHF	288,000	USD	328,796	11/30/23		11,256
SG	CNY	1,192,000	USD	167,500	11/03/23		4,600
SG	DKK	856,300	USD	121,420	01/18/24		(522	)
SG	EUR	302,000	USD	332,818	11/03/23		13,258
SG	EUR	299,000	USD	328,559	11/17/23		11,998
SG	EUR	2,572,990	USD	2,718,893	01/18/24		(13,676	)
SG	GBP	130,000	USD	158,447	02/02/24		322
SG	IDR	2,523,397,000	USD	160,084	12/14/23		1,278
SG	PEN	615,000	USD	161,996	12/28/23		2,257
SG	USD	161,639	AUD	253,000	11/10/23		(1,103	)
SG	USD	160,901	AUD	253,000	12/21/23		(146	)
SG	USD	155,215	BRL	785,000	11/03/23		485
SG	USD	330,106	CHF	290,000	11/03/23		(11,270	)
SG	USD	1,221	DKK	8,600	01/18/24		4
SG	USD	74,213	EUR	70,100	01/18/24		236
SG	USD	162,074	GBP	133,000	01/05/24		(329	)
SG	USD	159,473	KRW	216,198,000	12/07/23		901
SG	USD	31,416	SEK	350,100	01/18/24		69
Net unrealized appreciation (depreciation)						$	132,759

PACE Alternative Strategies Investments

Portfolio of investments – October 31, 2023 (unaudited) 

Fair valuation summary

The following is a summary of the fair valuations according to the inputs used as of October 31, 2023 in valuing the Portfolio's investments. In the event a Portfolio holds investments for which fair value is measured using the NAV per share practical expedient (or its equivalent), a separate column will be added to the fair value hierarchy table; this is intended to permit reconciliation to the amounts presented in the Portfolio of investments:

Description	Unadjusted quoted prices in active market for identical investments (Level 1)			Other significant observable inputs (Level 2)			Unobservable inputs (Level 3)		Total
Assets
Common stocks	$	107,659,821		$	26,744,953		$	—	$	134,404,774
Preferred stocks		—			540,659			—		540,659
Exchange traded funds		1,706,789			—			—		1,706,789
Investment companies		36,622,495			—			—		36,622,495
Warrant		—			—			0		0
Corporate bonds		—			37,725,860			—		37,725,860
Investment companies		—			105,533,409			—		105,533,409
Equity and foreign exchange options purchased		2,883,712			—			—		2,883,712
Futures contracts		710,640			239,034			—		949,674
Swap agreements		—			2,121,427			—		2,121,427
Forward foreign currency contracts		—			849,154			—		849,154
Total	$	149,583,457		$	173,754,496		$	0	$	323,337,953
Liabilities
Investments sold short
Common stocks	$	(67,784,707	)	$	(7,987,910	)	$	—	$	(75,772,617	)
Preferred stocks		—			(79,453	)		—		(79,453	)
Exchange traded funds		(11,984,710	)		—			—		(11,984,710	)
Corporate bonds		—			(81,149	)		—		(81,149	)
Investment companies		(1,406,624	)		—			—		(1,406,624	)
Equity options written		(1,768,692	)		—			—		(1,768,692	)
Futures contracts		(71,811	)		(56,164	)		—		(127,975	)
Swap agreements		—			(1,517,477	)		—		(1,517,477	)
Forward foreign currency contracts		—			(716,395	)		—		(716,395	)
Total	$	(83,016,544	)	$	(10,438,548	)	$	—	$	(93,455,092	)

At October 31, 2023, there were no transfers in or out of Level 3.

Portfolio footnotes

† Amount represents less than 0.05% or (0.05)%.

*	Non–income producing security.
1	Security, or portion thereof, pledged as collateral for investments sold short, written options, futures and/or swap agreements.
2	Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933. These securities are considered liquid, unless noted otherwise, and may be resold in transactions exempt from registrations, normally to qualified institutional buyers. Securities exempt from registration pursuant to Rule 144A, in the amount of $8,750,442, represented 2.5% of the Portfolios net assets at period end.
3	In U.S. dollars unless otherwise indicated.
4	Bond interest in default.
5	If the Portfolios is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio’s will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced obligation or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced obligation.
6	Payments made or received are based on the notional amount.
7	Security fair valued by the Valuation Committee under the direction of the Board of Trustees.

PACE Select Advisors Trust

Glossary of terms used in the Portfolio of investments
October 31, 2023

Portfolio acronyms:

ABS	Asset-backed Security	IO	Interest Only
ADR	American Depositary Receipt	JSC	Joint Stock Company
AGM	Assured Guaranty Municipal	LIBOR	London Interbank Offered Rate
AID	Anticipation Certificates of Indebtedness	MGIC	Mortgage Guaranty Insurance Corporation
AMBAC	American Municipal Bond Assurance Corporation	MTA	Monthly Treasury Average Index
AMT	Alternative Minimum Tax	NVDR	Non-Voting Depository Receipt
ARM	Adjustable Rate Mortgage	OAT	Obligation Assimilables du Trésor (French Government Bonds)
BAM	Build Americal Mutual	OBFR	Overnight Bank Funding Rate
BBSW	Bank Bill Swap Rate	OTC	Over The Counter
BOBL	Bundesobligationen	PJSC	Private Joint Stock Company
CDO	Collateralized Debt Obligation	PO	Principal Only
CJSC	Closed Joint Stock Company	PSF	Permanent School Fund
CLO	Collateralized Loan Obligation	RASC	Retirement Administration Service Center
CMT	Constant Maturity Treasury Index	RBA IOCR	RBA Interbank Overnight Cash Rate
COFI	Cost of Funds Index	REIT	Real Estate Investment Trust
COP	Certificate of Participation	REMIC	Real Estate Mortgage Investment Conduit
CPI	Consumer Price Index	RPI	Retail Price Index
DAC	Designated Activity Company	SBA	Small Business Administration
DIP	Debtor-in-possession	SIFMA	Municipal Swap Index Yield
ETF	Exchange Traded Fund	SOFR	Secured Overnight Financing Rate
EURIBOR	Euro Interbank Offered Rate	SONIA	Sterling Overnight Index Average
FHA	Federal Housing Administration	SPDR	Standard and Poor's Depository Receipts
FHLB	Federal Home Loan Bank	STRIP	Separate Trading of Registered Interest and Principal of Securities
FHLMC	Federal Home Loan Mortgage Corporation	TBA	To-Be-Announced Security
FNMA	Federal National Mortgage Association	TIPS	Treasury inflation protected securities
FRN	Floating Rate Note	UMBS	Uniform Mortgage-Backed Securities
GDR	Global Depositary Receipt	VRD	Variable rate demand notes are payable on demand. The interest rates shown are the current rates as of period end and reset periodically.
GMAC	General Motors Acceptance Corporation
GNMA	Government National Mortgage Association
GO	General Obligation
GSAMP	Goldman Sachs Asset Mortgage Passthrough
GTD	Guaranteed

Currency type abbreviations:

ARS	Argentine Peso	JPY	Japanese Yen
AUD	Australian Dollar	KRW	South Korean Won
BRL	Brazilian Real	MXN	Mexican Peso
CAD	Canadian Dollar	MYR	Malaysian Ringgit
CHF	Swiss Franc	NOK	Norwegian Krone
CLP	Chilean Peso	NZD	New Zealand Dollar
CNH	Chinese Yuan Renminbi Offshore	PEN	Peruvian Sol
CNY	Chinese Yuan Renminbi	PHP	Philippine Peso
COP	Colombian Peso	PLN	Polish Zloty
CZK	Czech Koruna	RON	Romanian Leu
DKK	Danish Krone	RUB	Russian Ruble
EUR	Euro	SEK	Swedish Krona
GBP	Great Britain Pound	SGD	Singapore Dollar
HKD	Hong Kong Dollar	THB	Thai Baht
HUF	Hungarian Forint	TRY	Turkish Lira
IDR	Indonesian Rupiah	TWD	Taiwan Dollar
ILS	Israeli Shekel	USD	United States Dollar
INR	Indian Rupee	ZAR	South African Rand

Counterparty acronyms:

ANZ	Australia and New Zealand Banking Group	JPMCB	JPMorgan Chase Bank
BB	Barclays Bank PLC	MSCI	Morgan Stanley & Co. International PLC
BNP	BNP Paribas	NAT	National Westminster
BOA	Bank of America	RBC	Royal Bank of Canada
CIBC	Canadian Imperial Bank of Commerce	RBS	Royal Bank of Scotland PLC
CITI	Citibank NA	SCB	Standard Chartered Bank
CSI	Credit Suisse International	SG	Societe Generale
DB	Deutsche Bank AG	SSC	State Street Bank and Trust Co.
GS	Goldman Sachs	TD	Toronto-Dominion Bank
GSI	Goldman Sachs International	WBC	Westpac Banking Corp.
HSBC	HSBC Bank PLC

See accompanying notes to financial statements.

PACE Select Advisors Trust

Valuation of investments

Each Portfolio generally calculates its net asset value on days that the New York Stock Exchange (“NYSE”) is open. A Portfolio calculates net asset value separately for each class as of the close of regular trading on the NYSE (generally, 4:00 p.m., Eastern time). The NYSE normally is not open, and the Portfolios do not price their shares, on most national holidays and Good Friday. To the extent that a Portfolio’s assets are traded in other markets on days when the NYSE is not open, the value of a Portfolio’s assets may be affected on those days. If trading on the NYSE is halted for the day before 4:00 p.m., Eastern time, a Portfolio’s net asset value per share generally will still be calculated as of the close of regular trading on the NYSE. The time at which a Portfolio calculates its net asset value and until which purchase, sale or exchange orders are accepted may be changed as permitted by the SEC.

Each Portfolio calculates its net asset value based on the current market value, where available, for its portfolio investments. The Portfolios normally obtain market values for their investments from independent pricing sources and broker-dealers. Independent pricing sources may use reported last sale prices, official market closing prices, current market quotations or valuations from computerized “evaluation” systems that derive values based on comparable investments. An evaluation system incorporates parameters such as security quality, maturity and coupon, and/ or research and evaluations by its staff, including review of broker-dealer market price quotations, if available, in determining the valuation of the portfolio investments. Investments also may be valued based on appraisals derived from information concerning the investment or similar investments received from recognized dealers in those holdings.

Investments traded in the over-the-counter (“OTC”) market and listed on The NASDAQ Stock Market, Inc. (“NASDAQ”) normally are valued at the NASDAQ Official Closing Price. Other OTC securities are valued at the last bid price on the valuation date available prior to valuation. Investments which are listed on US and foreign stock exchanges normally are valued at the market closing price, the last sale price on the day the securities are valued or, lacking any sales on such day, at the last available bid price. Investments listed on foreign stock exchanges may be fair valued based on significant events that have occurred subsequent to the close of the foreign markets. In cases where investments are traded on more than one exchange, the investments are valued on the exchange designated as the primary market by UBS AM. If a market value is not readily available from an independent pricing source for a particular investment, that investment is valued at fair value as determined in good faith by or under the direction of the Board. Foreign currency exchange rates are generally determined as of the close of the NYSE.

Certain investments in which the Portfolios invest are traded in markets that close before 4:00 p.m., Eastern time. Normally, developments that occur between the close of the foreign markets and 4:00 p.m., Eastern time, will not be reflected in a Portfolio’s net asset value. However, if any of the Portfolios determine that such developments are so significant that they will materially affect the value of the Portfolio’s investments, the Portfolio may adjust the previous closing prices to reflect what is believed to be the fair value of these investments as of 4:00 p.m., Eastern time.

Certain Portfolios may use a systematic fair valuation model provided by an independent third party to value investments principally traded in foreign markets in order to adjust for possible stale pricing that may occur between the close of the foreign exchanges and the time for valuation. The systematic fair valuation model may use calculations based on indices of domestic securities and other appropriate indicators, such as prices of relevant ADRs and futures contracts. If an investment is valued at “fair value,” that value is likely to be different from the last quoted market price for the investment. The use of the fair valuation model may result in securities being transferred between Level 1 and Level 2 of the fair valuation hierarchy at the end of the reporting period.

The amortized cost method of valuation, which approximates market value, generally is used to value short-term debt instruments with 60 days or less remaining to maturity, unless the Board determines that this does not represent fair value.

Investments in open-end investment companies are valued at the daily closing net asset value of the respective investment company. Pursuant to the Portfolios’ use of the practical expedient within ASC Topic 820, Fair value measurement, investments in investment companies without publicly published prices are also valued at the daily net asset value.

All investments quoted in foreign currencies are valued daily in US dollars on the basis of the foreign currency exchange rates prevailing at the time such valuation is determined by the Portfolios’ custodian.

Futures contracts are generally valued at the settlement price established each day on the exchange on which they are traded. Forward foreign currency contracts are valued daily using forward exchange rates quoted by independent pricing services.

OTC swaps are marked-to-market daily based upon values from third party vendors or quotations from market makers to the extent available. In the event that market quotations are not readily available or deemed unreliable, the swap is valued at fair value as determined in good faith by or under the direction of the Board. Centrally cleared swaps are valued using prices from the counterparty clearing houses.

The Board has designated UBS AM as the valuation designee pursuant to Rule 2a-5 under the 1940 Act, and delegated to UBS AM the responsibility for making fair value determinations with respect to portfolio holdings. UBS AM, as the valuation designee, is responsible for periodically assessing any material risks associated with the determination of the fair value of investments; establishing and applying fair value methodologies; testing the appropriateness of fair value methodologies; and overseeing and evaluating third-party pricing services. UBS AM has the Equities, Fixed Income, and Multi-Asset Valuation Committee (the “VC”) to assist with its designated responsibilities as valuation designee with respect to the Portfolios’ portfolio holdings. The VC is comprised of representatives of management. The VC provides reports to the Board at each quarterly meeting regarding any investments that have been fair valued, valued pursuant to standing instructions approved by the VC, or where non-vendor pricing sources had been used to make fair value determinations when sufficient information exists during the prior quarter. Fair valuation determinations are subject to review at least monthly by the VC during scheduled meetings. Pricing decisions, processes, and controls over fair value determinations are subject to internal and external reviews, including annual internal compliance reviews and periodic internal audit reviews.

The types of investments for which such fair value pricing may be necessary include, but are not limited to: foreign investments under some circumstances, securities of an issuer that has entered into a restructuring; investments whose trading has been halted or suspended; fixed income securities that are in default and for which there is no current market value quotation; and investments that are restricted as to transfer or resale. The need to fair value a Portfolio’s portfolio investments may also result from low trading volume in foreign markets or thinly traded domestic investments, and when a security that is subject to a trading limit or collar on the exchange or market on which it is primarily traded reaches the “limit up” or “limit down” price and no trading has taken place at that price. Various factors may be reviewed in order to make a good faith determination of an investment’s fair value. These factors include, but are not limited to, fundamental analytical data relating to the investment; the nature and duration of restrictions on disposition of the investment; and the evaluation of forces which influence the market in which the investment is purchased and sold. Valuing investments at fair value involves greater reliance on judgment than valuing investments that have readily available market quotations. Fair value determinations can also involve reliance on quantitative models employed by a fair value pricing service.

US generally accepted accounting principles (“US GAAP”) requires disclosure regarding the various inputs that are used in determining the value of each Portfolio’s investments. These inputs are summarized into the three broad levels listed below:

Level 1—Unadjusted quoted prices in active markets for identical investments.

Level 2—Other significant observable inputs, including but not limited to, quoted prices for similar investments, interest rates, prepayment speeds and credit risks.

Level 3—Unobservable inputs inclusive of each Portfolio’s own assumptions in determining the fair value of investments. A fair value hierarchy table has been included near the end of each Portfolio’s portfolio of investments.

For more information regarding the Portfolios’ other significant accounting policies, please refer to the Portfolio’s Annual report to shareholders dated July 31, 2023.