NPORT-EX 2 ecow.htm PART F

Pacer Emerging Markets Cash Cows 100 ETF
  
Schedule of Investments
  
July 31, 2024 (Unaudited)
  
   
COMMON STOCKS - 98.2%
  
Shares
    
Value
  
Brazil - 13.9%
        
Ambev SA - ADR (a)
    
969,149
    
$
1,996,447
  
Auren Energia SA
    
247,246
      
519,745
  
CPFL Energia SA
    
183,733
      
1,054,423
  
CSN Mineracao SA
    
983,577
      
897,299
  
Embraer SA - ADR (b)
    
15,500
      
481,430
  
Gerdau SA - ADR (a)
    
192,364
      
623,260
  
Lojas Renner SA
    
151,875
      
355,511
  
M Dias Branco SA
    
57,165
      
273,386
  
Petroleo Brasileiro SA - ADR
    
151,960
      
1,999,794
  
PRIO SA
    
97,242
      
825,744
  
Sendas Distribuidora SA (b)
    
168,605
      
293,024
  
Telefonica Brasil SA
    
200,906
      
1,720,940
  
TIM SA
    
451,951
      
1,387,939
  
Vale SA - ADR
    
185,965
      
2,017,720
  
             
14,446,662
  
                 
Cayman Islands - 3.9%
          
Baidu, Inc. - ADR (a)(b)
    
22,623
      
2,003,719
  
Xiaomi Corp. - Class B (b)(c)
    
940,555
      
2,027,294
  
             
4,031,013
  
                 
Chile - 2.7%
          
Cencosud SA
    
532,444
      
984,191
  
Falabella SA (b)
    
326,839
      
1,082,668
  
Latam Airlines Group SA (b)
    
55,990,890
      
693,143
  
             
2,760,002
  
                 
China - 21.3%
          
Alibaba Group Holding Ltd. - ADR
    
27,161
      
2,141,645
  
China Coal Energy Co. Ltd. - Class H
    
1,687,636
      
1,710,781
  
China Feihe Ltd. (c)
    
635,687
      
288,030
  
COSCO SHIPPING Holdings Co. Ltd. - Class H
    
1,101,885
      
1,571,129
  
CRRC Corp Ltd. - Class H
    
3,307,840
      
2,049,181
  
Hisense Home Appliances Group Co. Ltd.
    
277,778
      
897,738
  
JD Health International, Inc. (b)(c)
    
171,937
      
478,651
  
JD Logistics, Inc. (b)(c)
    
1,111,811
      
1,145,559
  
JD.com, Inc. - ADR (a)
    
72,769
      
1,920,374
  
Kingsoft Corp. Ltd.
    
116,839
      
331,247
  
Li Auto, Inc. - ADR (a)(b)
    
106,225
      
2,096,882
  
Sinotruk Hong Kong Ltd.
    
441,947
      
1,162,445
  
Tianqi Lithium Corp. - Class H
    
581,507
      
1,592,793
  
Weichai Power Co. Ltd. - Class H
    
1,116,682
      
1,783,753
  
Yangzijiang Shipbuilding Holdings Ltd.
    
496,604
      
999,375
  
ZTE Corp. - Class H
    
867,570
      
1,941,049
  
             
22,110,632
  
                 
Czech Republic - 1.9%
          
CEZ AS
    
50,276
      
1,936,072
  
                 
Greece - 1.0%
          
Hellenic Telecommunications Organization SA
    
31,539
      
517,799
  
OPAP SA
    
28,311
      
493,604
  
             
1,011,403
  
                 
Hong Kong - 1.4%
          
China Medical System Holdings Ltd.
    
328,179
      
272,193
  
Kunlun Energy Co. Ltd.
    
1,239,421
      
1,202,482
  
             
1,474,675
  
                 
Indonesia - 3.6%
          
Adaro Energy Tbk PT
    
7,107,911
      
1,407,594
  
Perusahaan Gas Negara Tbk PT
    
5,986,267
      
589,054
  
Telekom Indonesia Persero Tbk PT
    
9,685,330
      
1,715,483
  
             
3,712,131
  
                 
Malaysia - 3.4%
          
Malaysia Airports Holdings Bhd
    
135,485
      
301,962
  
MISC Bhd
    
330,072
      
631,480
  
Telekom Malaysia Bhd
    
266,810
      
404,759
  
Tenaga Nasional Bhd
    
720,432
      
2,207,788
  
             
3,545,989
  
                 
Mexico - 9.3%
          
Cemex SAB de CV - ADR
    
126,882
      
814,582
  
Coca-Cola Femsa SAB de CV - ADR
    
11,858
      
1,072,319
  
Fomento Economico Mexicano SAB de CV - ADR
    
15,506
      
1,709,536
  
Gruma SAB de CV - Class B
    
30,179
      
566,308
  
Grupo Aeroportuario del Sureste SAB de CV - ADR
    
2,016
      
605,788
  
Grupo Mexico SAB de CV - Class B
    
408,954
      
2,299,941
  
Kimberly-Clark de Mexico SAB de CV - Class A
    
271,463
      
483,741
  
Wal-Mart de Mexico SAB de CV
    
621,722
      
2,068,958
  
             
9,621,173
  
                 
Qatar - 1.2%
          
Industries Qatar QSC
    
336,286
      
1,209,004
  
                 
Russia - 0.0%(d)
          
Alrosa PJSC (e)
    
91,900
      
0
  
Inter RAO UES PJSC (e)
    
1,901,988
      
0
  
LUKOIL PJSC – ADR (b)(e)
    
2,652
      
0
  
Magnit PJSC (e)
    
1,958
      
0
  
Magnitogorsk Iron & Steel Works PJSC - GDR (b)(e)
    
2,458
      
0
  
Magnitogorsk Iron & Steel Works PJSC (e)
    
106,418
      
0
  
Severstal PAO - GDR (b)(e)
    
2,129
      
0
  
Severstal PAO (e)
    
9,320
      
0
  
Surgutneftegas PJSC (e)
    
477,461
      
0
  
TATNEFT PJSC ADS (REPR 6 ORD RUB0.1) (b)(e)
    
3,600
      
0
  
             
0
  
                 
South Africa - 5.7%
          
African Rainbow Minerals Ltd.
    
13,677
      
162,209
  
Clicks Group Ltd.
    
13,026
      
253,189
  
Exxaro Resources Ltd.
    
69,278
      
741,260
  
Harmony Gold Mining Co. Ltd. - ADR
    
35,470
      
344,768
  
Kumba Iron Ore Ltd.
    
37,833
      
825,294
  
Mr Price Group Ltd.
    
31,942
      
379,358
  
MTN Group Ltd.
    
195,102
      
847,469
  
MultiChoice Group (b)
    
30,412
      
182,514
  
Sasol Ltd.
    
101,943
      
824,780
  
Vodacom Group Ltd.
    
237,607
      
1,333,600
  
             
5,894,441
  
                 
Taiwan - 17.6%
          
Catcher Technology Co. Ltd.
    
48,740
      
315,839
  
Cheng Shin Rubber Industry Co. Ltd.
    
339,378
      
498,174
  
Chicony Electronics Co. Ltd.
    
68,448
      
323,811
  
China Airlines Ltd.
    
873,985
      
610,221
  
Compal Electronics, Inc.
    
514,207
      
491,993
  
Eva Airways Corp.
    
1,058,481
      
1,109,360
  
Giant Manufacturing Co. Ltd.
    
49,283
      
355,341
  
Hon Hai Precision Industry Co. Ltd.
    
385,548
      
2,322,437
  
Largan Precision Co. Ltd.
    
7,333
      
628,001
  
Lite-On Technology Corp.
    
131,111
      
395,288
  
MediaTek, Inc.
    
53,657
      
1,991,528
  
Novatek Microelectronics Corp.
    
39,619
      
630,385
  
Pegatron Corp.
    
575,358
      
1,759,157
  
Pou Chen Corp.
    
523,268
      
574,687
  
Powertech Technology, Inc.
    
74,705
      
371,593
  
President Chain Store Corp.
    
111,066
      
937,658
  
Quanta Computer, Inc.
    
250,636
      
2,077,831
  
Synnex Technology International Corp.
    
197,893
      
428,056
  
Uni-President Enterprises Corp.
    
615,991
      
1,572,304
  
Wistron Corp.
    
281,612
      
829,329
  
             
18,222,993
  
                 
Thailand - 3.9%
          
PTT Exploration & Production PCL
    
463,053
      
1,909,631
  
PTT PCL
    
2,391,662
      
2,147,094
  
             
4,056,725
  
                 
Turkey - 7.1%
          
AG Anadolu Grubu Holding AS
    
63,435
      
816,455
  
Borusan Birlesik Boru Fabrikalari Sanayi ve Ticaret AS (b)
    
14,319
      
181,486
  
Enka Insaat ve Sanayi AS
    
292,355
      
411,549
  
KOC Holding AS
    
322,015
      
2,091,490
  
Migros Ticaret AS
    
23,133
      
368,463
  
Oyak Cimento Fabrikalari AS (b)
    
118,578
      
283,754
  
Tofas Turk Otomobil Fabrikasi AS
    
37,639
      
318,226
  
Turk Traktor ve Ziraat Makineleri AS
    
12,054
      
281,898
  
Turkcell Iletisim Hizmetleri AS
    
189,050
      
602,809
  
Turkiye Petrol Rafinerileri AS
    
418,484
      
2,063,499
  
             
7,419,629
  
                 
United Arab Emirates - 0.3%
          
National Marine Dredging Co.
    
45,829
      
338,388
  
TOTAL COMMON STOCKS (Cost $99,806,510)
      
101,790,932
  
                 
PREFERRED STOCKS - 0.9%
  
Shares
    
Value
  
Brazil - 0.9%
          
Cia Energetica de Minas Gerais
    
497,859
      
960,307
  
TOTAL PREFERRED STOCKS (Cost $963,123)
      
960,307
  
                 
INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 5.7%
                
Mount Vernon Liquid Assets Portfolio, LLC – 5.51% (f)
    
5,882,571
      
5,882,571
  
TOTAL INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING (Cost $5,882,571)
      
5,882,571
  
                 
TOTAL INVESTMENTS - 104.8% (Cost $106,652,204)
      
108,633,810
  
Liabilities in Excess of Other Assets - (4.8)%
      
(4,911,318
)
TOTAL NET ASSETS - 100.0%
          
$
103,722,492
  
               
Percentages are stated as a percent of net assets.
          

ADR - American Depositary Receipt
AG - Aktiengesellschaft
GDR - Global Depositary Receipt
PJSC - Public Joint Stock Company
SA - Sociedad Anónima
SAB de CV - Sociedad Anónima Bursátil de Capital Variable

(a)
All or a portion of this security is on loan as of July 31, 2024. The total market value of these securities was $5,812,920 which represented 5.6% of net assets.
(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, 2024, the value of these securities total $3,939,534 or 3.8% of the Fund’s net assets.
(d)
Represents less than 0.05% of net assets.
(e)
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 $0 or 0.0% of net assets as of July 31, 2024.
(f)
The rate shown represents the 7-day annualized effective yield as of July 31, 2024.


Summary of Fair Value Disclosure as of July 31, 2024 (Unaudited)
 
Pacer Emerging Markets Cash Cows 100 ETF has adopted authoritative fair value accounting standards which establish an authoritative definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities.
 
Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.
 
Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.
 
Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund’s own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available.
 
The following is a summary of the fair valuation hierarchy of the Fund’s securities as of July 31, 2024:

   
Level 1
    
Level 2
    
Level 3
    
Total
  
Investments:
                        
  Common Stocks
  
$
101,790,931
    
$
–
    
$
–
(a) 
  
$
101,790,931
  
  Preferred Stocks
    
960,307
      
–
      
–
      
960,307
  
  Investments Purchased with Proceeds from Securities Lending(b)
    
–
      
–
      
–
      
5,882,571
  
Total Investments
  
$
102,751,239
    
$
–
    
$
–
(a) 
  
$
108,633,809
  
   
Refer to the Schedule of Investments for further disaggregation of investment categories.
  

(a)
Amount is less than $0.50.
(b)
Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts listed in the Schedule of Investments.


ECOW(a)
  
Balance as of 4/30/2024
    
Net Realized
Gain (Loss)
    
Change in Net Unrealized Appreciation (Depreciation)
    
Purchases
    
Sales
    
Transfers Into
Level 3
    
Transfers Out of Level 3
    
Balance as of 7/31/2024
  
Common Stocks
  
$
0
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
0
  
   
The following is a summary of quantitative information about Level 3 Fair Value Measurements:
  
ECOW
  
Fair Value as of 7/31/2024
    
Valuation Techniques
    
Unobservable Input
    
Impact to
Valuation From
an Increase
to Input
                                  
Common Stocks
  
$
0
    
Market comparable companies
    
Discount for lack of marketability
    
$
0.00
                                  
   
* Table presents information for ten securities, which due to the Russian foreign exchange restrictions are not actively trading.