Pacer Trendpilot European Index ETF
Schedule of Investments
July 31, 2025 (Unaudited)
COMMON STOCKS - 97.8%	Shares		Value
Austria - 0.7%
ANDRITZ AG		358	$	25,024
Erste Group Bank AG		1,489		136,874
OMV AG		728		37,120
Raiffeisen Bank International AG		662		19,219
Telekom Austria AG		444		4,712
Verbund AG		336		25,058
				248,007
Belgium - 2.3%
Ackermans & van Haaren NV		109		26,794
Ageas SA/NV		983		67,028
Anheuser-Busch InBev SA		5,112		299,858
Cenergy Holdings SA		314		3,677
D'ieteren Group		108		21,421
Elia Group SA/NV		238		27,486
Groupe Bruxelles Lambert NV		422		35,445
KBC Groep NV		1,200		125,660
Lotus Bakeries NV		2		16,981
Sofina SA		74		22,767
Syensqo SA		358		28,582
Titan Cement International SA		194		8,048
UCB SA		633		137,577
Viohalco SA		216		1,496
				822,820
Finland - 2.9%
Elisa OYJ		738		38,034
Fortum Oyj		2,238		41,094
Kesko Oyj - Class B		1,390		30,266
Kone Oyj - Class B		1,601		98,552
Metso Oyj		3,920		49,499
Neste Oyj		2,140		33,787
Nokia OYJ		25,719		105,310
Nordea Bank Abp		16,876		246,514
Orion Oyj - Class B		542		43,483
Sampo Oyj - Class A		12,144		130,494
Stora Enso Oyj - Class R		3,042		31,362
UPM-Kymmene Oyj		2,755		71,526
Valmet Oyj		725		26,236
Wartsila OYJ Abp		2,328		64,399
				1,010,556
France - 27.6%(a)
Accor SA		1,162		59,223
Aeroports de Paris SA		200		24,285
Air Liquide SA		3,054		602,247
Alstom SA (b)		1,898		44,706
Amundi SA (c)		292		21,677
Arkema SA		304		20,781
AXA SA		9,218		448,976
Ayvens SA (c)		1,129		12,182
BioMerieux		225		32,302
BNP Paribas SA		5,301		484,323
Bollore SE		3,596		20,786
Bouygues SA		1,001		41,296
Bureau Veritas SA		1,677		51,749
Capgemini SE		820		122,494
Carrefour SA		2,850		40,883
Cie de Saint-Gobain SA		2,397		274,366
Cie Generale des Etablissements Michelin SCA		3,674		131,066
Credit Agricole SA		4,936		90,972
Danone SA		3,356		275,291
Dassault Aviation SA		96		29,843
Dassault Systemes SE		3,505		115,557
Edenred SE		1,238		35,490
Eiffage SA		352		47,260
Engie SA		9,349		209,327
EssilorLuxottica SA		1,527		454,125
Eurazeo SE		206		12,142
Getlink SE		1,814		32,915
Hermes International SCA		185		454,124
Ipsen SA		172		20,355
Kering		370		91,416
La Francaise des Jeux SACA		558		17,435
Legrand SA		1,333		197,683
L'Oreal SA		1,215		539,857
LVMH Moet Hennessy Louis Vuitton SE		1,348		726,634
Orange SA		11,044		168,193
Pernod Ricard SA		1,019		105,078
Publicis Groupe SA		1,207		110,470
Renault SA		988		36,881
Rexel SA		1,130		34,276
Safran SA		1,843		608,886
Sanofi SA		5,680		511,042
Sartorius Stedim Biotech		143		28,722
Schneider Electric SE		2,868		747,054
SCOR SE		880		28,802
SEB SA		130		9,554
Societe Generale SA		3,806		243,057
Sodexo SA		422		25,187
Teleperformance SE		292		28,565
Thales SA		475		127,820
TOTAL SA		10,773		639,542
Veolia Environnement SA		3,200		108,460
Vinci SA		2,649		367,602
Wendel SA		140		13,157
				9,726,116
Germany - 27.5%(a)
adidas AG		885		169,724
Allianz SE		2,050		812,261
BASF SE		4,739		233,416
Bayer AG		5,220		162,926
Bayerische Motoren Werke AG		1,512		144,735
Bechtle AG		422		18,406
Beiersdorf AG		503		62,569
Brenntag SE		630		39,212
Carl Zeiss Meditec AG		184		10,213
Commerzbank AG		4,448		162,637
Continental AG		554		47,543
Covestro AG (b)		919		62,297
CTS Eventim AG & Co. KGaA		304		34,432
Daimler AG		4,004		228,925
Daimler Truck Holding AG		2,647		129,379
Delivery Hero SE (b)(c)		1,182		35,463
Deutsche Bank AG		9,619		318,174
Deutsche Boerse AG		974		282,440
Deutsche Lufthansa AG		3,086		26,568
Deutsche Post AG		5,028		226,362
Deutsche Telekom AG		17,433		626,281
Deutsche Wohnen SE		250		6,362
DWS Group GmbH & Co. KGaA (c)		162		9,752
E.ON SE		11,763		214,179
Evonik Industries AG		1,292		25,758
Fielmann Group AG		130		8,249
Fraport AG Frankfurt Airport Services Worldwide (b)		184		13,722
Fresenius Medical Care AG		1,116		56,649
Fresenius SE & Co. KGaA		2,191		104,966
FUCHS SE		152		5,369
GEA Group AG		770		55,447
Hannover Rueck SE		314		95,461
Heidelberg Materials AG		666		153,908
Henkel AG & Co. KGaA		500		35,548
HOCHTIEF AG		77		16,845
Infineon Technologies AG		6,894		272,489
KION Group AG		368		22,783
Knorr-Bremse AG		336		33,685
LEG Immobilien SE		380		30,248
Merck KGaA		672		84,588
MTU Aero Engines AG		282		121,712
Muenchener Rueckversicherungs-Gesellschaft AG		691		453,901
Nemetschek SE		301		45,033
Puma SE		542		11,532
Rational AG		28		21,712
Rheinmetall AG		229		453,547
RWE AG		3,531		144,702
SAP SE		5,440		1,557,000
Scout24 SE (c)		361		48,366
Siemens AG		3,884		996,852
Siemens Energy AG (b)		3,367		391,927
Siemens Healthineers AG (c)		1,577		85,125
Symrise AG		698		63,326
Talanx AG		314		41,782
Traton SE		326		11,213
Volkswagen AG		152		16,323
Vonovia SE		3,723		115,904
Wacker Chemie AG		96		7,198
Zalando SE (b)(c)		1,200		35,222
				9,702,348
Greece - 1.0%
Aegean Airlines SA		206		2,967
Aktor SA Holding Co. Technical And Energy Projects (b)		260		1,851
Alpha Bank SA		10,836		40,808
Athens International Airport SA		380		4,337
Athens Water Supply & Sewage Co. SA		216		1,807
Autohellas Tourist and Trading SA		96		1,166
Ellaktor SA		422		641
Eurobank Ergasias SA		12,988		47,993
FF Group (b)(d)		1,259		6,897
GEK TERNA SA		304		7,514
Hellenic Telecommunications Organization SA		778		14,117
HELLENiQ ENERGY Holdings SA		478		4,203
Holding Co. ADMIE IPTO SA		586		2,214
Intralot SA-Integrated Information Systems & Gaming Services (b)		1,336		1,692
JUMBO SA		554		18,739
LAMDA Development SA (b)		412		3,136
Metlen Energy & Metals SA		564		31,139
Motor Oil Hellas Corinth Refineries SA		292		8,391
National Bank of Greece SA		4,314		60,505
OPAP SA		956		21,449
Optima bank SA		1,007		8,309
Piraeus Financial Holdings SA		5,543		42,825
Piraeus Port Authority SA		42		2,310
Public Power Corp. SA		1,000		16,262
Quest Holdings SA		140		1,169
Sarantis SA		152		2,324
				354,765
Ireland - 0.9%
AIB Group PLC		10,901		86,460
Bank of Ireland Group PLC		5,216		70,269
Glanbia PLC		956		13,910
Kerry Group PLC - Class A		875		81,032
Kingspan Group PLC		816		67,653
				319,324
Italy - 9.3%
A2A SpA		7,902		19,235
Amplifon SpA		662		11,155
Banca Mediolanum SpA		1,108		19,599
Banca Monte dei Paschi di Siena SpA		4,488		38,239
Banco BPM SpA		7,815		99,887
BPER Banca SPA		5,080		50,065
Brunello Cucinelli SpA		172		19,338
Buzzi SpA		434		22,644
Davide Campari-Milano NV		2,874		19,876
DiaSorin SpA		108		10,562
Enel SpA		41,115		362,836
Eni SpA		10,894		185,365
Ferrari NV		631		277,454
FinecoBank Banca Fineco SpA		3,258		69,602
Generali		5,132		191,629
Hera SpA		3,925		16,779
Infrastrutture Wireless Italiane SpA (c)		1,770		20,926
Interpump Group SpA		412		16,907
Intesa Sanpaolo SpA		83,022		501,674
Italgas SpA		2,936		24,275
Leonardo SpA		2,132		115,010
Mediobanca Banca di Credito Finanziario SpA		3,004		66,301
Moncler SpA		1,172		62,782
Nexi SpA (c)		2,524		14,431
Pirelli & C SpA (c)		1,902		12,850
Poste Italiane SpA (c)		2,326		50,341
Prysmian SpA		1,518		121,922
Recordati Industria Chimica e Farmaceutica SpA		554		31,864
Reply SpA		118		18,529
Snam SpA		10,917		63,214
Telecom Italia SpA (b)		56,194		25,889
Telecom Italia SpA - Savings Shares (b)		24,096		12,432
Terna Rete Elettrica Nazionale SpA		7,462		71,974
UniCredit SpA		8,261		609,297
Unipol Assicurazioni SpA		1,934		38,878
				3,293,761
Luxembourg - 0.5%
ArcelorMittal		2,249		70,632
CVC Capital Partners PLC (c)		1,086		20,957
Eurofins Scientific SE		578		44,405
RTL Group SA		184		7,265
Tenaris SA		1,934		34,078
				177,337
Netherlands - 14.4%
Aalberts Industries NV		500		16,068
ABN AMRO Group NV (c)		2,728		78,951
Adyen NV (b)(c)		137		236,174
Aegon Ltd.		6,792		48,707
Airbus SE		3,096		621,977
Akzo Nobel NV		880		55,314
Argenx SE (b)		323		219,101
ASM International NV		249		121,478
ASML Holding NV		2,088		1,460,911
ASR Nederland NV		760		50,616
BE Semiconductor Industries NV		363		49,338
CTP NV (c)		607		12,912
Euronext NV (c)		465		75,141
EXOR NV		478		46,231
Heineken Holding NV		584		39,588
Heineken NV		1,473		116,089
IMCD NV		304		33,416
ING Groep NV		16,177		378,270
JDE Peet's NV		792		23,572
Koninklijke Ahold Delhaize NV		4,824		190,478
Koninklijke KPN NV		20,057		89,725
Koninklijke Philips NV		4,324		113,988
Koninklijke Vopak NV		292		13,956
NN Group NV		1,378		93,034
Prosus NV		6,770		388,151
QIAGEN NV		1,134		56,683
Randstad Holding NV		542		25,879
Stellantis NV		11,398		100,976
Universal Music Group NV		4,997		144,731
Wolters Kluwer NV		1,243		193,911
				5,095,366
Poland - 0.1%
InPost SA (b)		1,228		17,686
Portugal - 0.5%
Banco Comercial Portugues SA		46,892		38,615
EDP SA		15,478		66,874
Galp Energia SGPS SA		2,184		41,660
Jeronimo Martins SGPS SA		1,412		34,484
				181,633
Spain - 9.6%
Acciona SA		118		22,650
ACS Actividades de Construccion y Servicios SA		978		67,412
Aena SME SA (c)		3,674		98,928
Amadeus IT Holding SA		2,320		186,443
Banco Bilbao Vizcaya Argentaria SA		30,016		501,483
Banco de Sabadell SA		28,586		105,729
Banco Santander SA		79,935		687,448
Bankinter SA		3,314		47,274
CaixaBank SA		19,329		181,981
Cellnex Telecom SA (c)		2,988		105,707
Corp. ACCIONA Energias Renovables SA		292		7,858
EDP Renovaveis SA		1,554		18,266
Endesa SA		1,630		47,155
Ferrovial SE		2,526		129,432
Grifols SA (b)		1,548		23,177
Iberdrola SA		34,288		600,833
Industria de Diseno Textil SA		5,859		280,223
Mapfre SA		5,108		20,822
Naturgy Energy Group SA		488		15,304
Redeia Corp. SA		2,081		40,254
Repsol SA		5,972		90,507
Telefonica SA		21,710		112,084
				3,390,970
Switzerland - 0.5%
DSM-Firmenich AG		963		92,885
STMicroelectronics NV		3,415		87,512
				180,397
TOTAL COMMON STOCKS (Cost $32,513,311)				34,521,086
PREFERRED STOCKS - 0.7%
Germany - 0.6%
Bayerische Motoren Werke AG, 0.00%		292		25,692
FUCHS SE, 0.00%		352		16,165
Henkel AG & Co. KGaA, 0.00%		866		66,788
Volkswagen AG, 0.00%		1,099		115,535
				224,180
Spain - 0.1%
Grifols SA, Class B, 0.00%		1,326		14,232
TOTAL PREFERRED STOCKS (Cost $236,042)				238,412
REAL ESTATE INVESTMENT TRUSTS - COMMON - 0.5%
Belgium - 0.0%(e)
Warehouses De Pauw CVA		880		20,607
France - 0.4%
Covivio SA		282		18,328
Gecina SA		270		26,560
Klepierre		1,054		40,367
Unibail-Rodamco-Westfield		493		47,957
				133,212
Spain - 0.1%
Merlin Properties Socimi SA		1,944		27,021
TOTAL REAL ESTATE INVESTMENT TRUSTS - COMMON (Cost $165,237)				180,840
TOTAL INVESTMENTS - 99.0% (Cost $32,914,590)				34,940,338
Other Assets in Excess of Liabilities - 1.0%				360,114
TOTAL NET ASSETS - 100.0%			$	35,300,452
two				–	%
Percentages are stated as a percent of net assets.				–	%

PLC - Public Limited Company

(a)	To the extent that the Fund invests a significant portion of its assets in the securities of companies of a single country or region, it is more likely to be impacted by events or conditions affecting such country or region.
(b)	Non-income producing security.
(c)	Security is exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may only be resold in transactions exempt from registration to qualified institutional investors. As of July 31, 2025, the value of these securities total $975,105 or 2.8% of the Fund’s net assets.
(d)	Fair value determined using significant unobservable inputs in accordance with procedures established by and under the supervision of the Adviser, acting as Valuation Designee. These securities represented $6,897 or 0.0% of net assets as of July 31, 2025.
(e)	Represents less than 0.05% of net assets.

Summary of Fair Value Disclosure as of July 31, 2025 (Unaudited)

Pacer Trendpilot European Index ETF (the "Fund") has adopted fair value accounting standards which establish a definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or valuation methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.

Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.

Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund’s own assumptions about the assumptions a market participant would use in valuing the asset or liability, and based on the best information available.

The following is a summary of the fair valuation hierarchy of the Fund’s securities as of July 31, 2025:

	Level 1		Level 2		Level 3		Total
Assets:
Investments:
Common Stocks	$	34,514,189	$	–	$	6,897	$	34,521,086
Preferred Stocks		238,412		–		–		238,412
Real Estate Investment Trusts - Common		180,840		–		–		180,840
Total Investments	$	34,933,441	$	–	$	6,897	$	34,940,338
Refer to the Schedule of Investments for further disaggregation of investment categories.

PTEU	Balance as of 04/30/2025		Net Realized Gain (Loss)		Change in Net Unrealized Appreciation (Depreciation)		Purchases		Sales		Transfers Into Level 3		Transfers Out of Level 3		Balance as of 07/31/2025
Common Stocks	$	6,846		-	$	51		-		-	$	-	$	-	$	6,897
The following is a summary of quantitative information about Level 3 Fair Value Measurements:
PTEU(a)	Fair Value as of 07/31/2025		Valuation Techniques		Unobservable Input		Impact to Valuation From an Increase to Input
Common Stocks	$	6,897	Last Trade Price		Stale Data		4.8 EUR

(a) Table presents information for one security: FF Group, which has been valued at 4.8 EUR throughout the period.