PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount		Value
Asset-backed securities—10.8%
Ameriquest Mortgage Securities, Inc. Asset-Backed Pass-Through Certificates,
Series 2005-R1, Class M4,
1 mo. USD Term SOFR +1.224%,
6.541%, due 03/25/351	$	166,328	$	161,768
Amortizing Residential Collateral Trust,
Series 2004-1, Class A5,
1 mo. USD Term SOFR +1.114%,
6.431%, due 10/25/341		78,852		77,281
Anchorage Capital CLO 28 Ltd.,
Series 2024-28A, Class A,
3 mo. USD Term SOFR +1.700%,
6.985%, due 04/20/371,2		500,000		500,929
Apex Credit CLO Ltd.,
Series 2024-1A, Class A1,
3 mo. USD Term SOFR +1.800%,
7.122%, due 04/20/361,2		500,000		500,846
Bear Stearns Asset-Backed Securities Trust,
Series 2004-2, Class M1,
1 mo. USD Term SOFR +1.314%,
6.631%, due 08/25/341		1,395,182		1,389,364
Chase Funding Trust,
Series 2002-3, Class 2A1,
1 mo. USD Term SOFR +0.754%,
6.071%, due 08/25/321		117,725		113,115
Series 2002-4, Class 2A1,
1 mo. USD Term SOFR +0.854%,
6.171%, due 10/25/321		5,185		5,053
Countrywide Asset-Backed Certificates,
Series 2004-2, Class 3A4,
1 mo. USD Term SOFR +0.614%,
5.931%, due 07/25/341		59,009		56,997
Countrywide Asset-Backed Certificates Trust,
Series 2004-4, Class M1,
1 mo. USD Term SOFR +0.834%,
6.151%, due 07/25/341		24,832		24,782
Series 2004-6, Class M1,
1 mo. USD Term SOFR +1.014%,
6.331%, due 10/25/341		57,613		56,196
Diameter Capital CLO 6 Ltd.,
Series 2024-6A, Class A1,
3 mo. USD Term SOFR +1.610%,
6.936%, due 04/15/371,2		700,000		700,790

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
Asset-backed securities—(continued)
Dryden Senior Loan Fund,
Series 2017-47A, Class A1R,
3 mo. USD Term SOFR +1.242%,
6.570%, due 04/15/281,2	$	614,816	$	615,231
EMC Mortgage Loan Trust,
Series 2003-A, Class A2,
1 mo. USD Term SOFR +1.614%,
6.931%, due 08/25/401,2		45,190		44,695
EquiFirst Loan Securitization Trust,
Series 2007-1, Class A1,
1 mo. USD Term SOFR +0.284%,
5.601%, due 04/25/371,2		1,095,923		978,636
Gallatin CLO VIII Ltd.,
Series 2017-1A, Class A1R,
3 mo. USD Term SOFR +1.352%,
6.680%, due 07/15/311,2		1,325,387		1,326,315
Generate CLO 3 Ltd.,
Series 3A, Class A2R,
3 mo. USD Term SOFR +1.830%,
7.155%, due 10/20/361,2		700,000		706,775
KGS-Alpha SBA COOF Trust,
Series 2012-5, Class A,
0.973%, due 04/25/381,2,3,4		5,302,363		108,921
KKR CLO 28 Ltd.,
Series 28A, Class AR,
3 mo. USD Term SOFR +1.440%,
6.757%, due 02/09/351,2		500,000		500,372
KKR CLO Trust,
Series 39A, Class A,
3 mo. USD Term SOFR +1.452%,
6.780%, due 10/15/341,2		250,000		250,038
Madison Park Funding XXIX Ltd.,
Series 2018-29A, Class AR,
3 mo. USD Term SOFR +1.180%,
6.507%, due 10/18/301,2		2,349,684		2,349,261
Marathon CLO 14 Ltd.,
Series 2019-2A, Class A1AR,
3 mo. USD Term SOFR +1.380%,
6.705%, due 01/20/331,2		400,000		399,991
Option One Mortgage Loan Trust,
Series 2007-4, Class 2A2,
1 mo. USD Term SOFR +0.294%,
5.611%, due 04/25/371		45,799		25,484
Palmer Square CLO Ltd.,
Series 2022-1A, Class A,
3 mo. USD Term SOFR +1.320%,
6.645%, due 04/20/351,2		150,000		150,414

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
Asset-backed securities—(continued)
PRET LLC,
Series 2021-RN2, Class A1,
1.744%, due 07/25/511,2	$	3,365,323	$	3,218,065
Series 2022-RN1, Class A1,
3.721%, due 07/25/511,2		1,218,452		1,190,483
Renaissance Home Equity Loan Trust,
Series 2003-2, Class A,
1 mo. USD Term SOFR +0.994%,
3.882%, due 08/25/331		103,339		92,908
Residential Asset Securities Corporation Trust,
Series 2005-KS11, Class M2,
1 mo. USD Term SOFR +0.744%,
6.061%, due 12/25/351		28,618		28,474
Saxon Asset Securities Trust,
Series 2005-3, Class M3,
1 mo. USD Term SOFR +0.864%,
1.493%, due 11/25/351		451,429		437,804
Soundview Home Loan Trust,
Series 2007-OPT1, Class 1A1,
1 mo. USD Term SOFR +0.314%,
5.631%, due 06/25/371		537,220		359,005
Structured Asset Securities Corp. Mortgage Loan Trust,
Series 2006-EQ1A, Class A1,
1 mo. USD Term SOFR +0.384%,
5.701%, due 07/25/361,2		19,108		18,965
Structured Asset Securities Corp. Trust,
Series 2005-AR1, Class M2,
1 mo. USD Term SOFR +0.804%,
6.121%, due 09/25/351		800,124		744,172
Sycamore Tree CLO Ltd.,
Series 2023-2A, Class AR,
3 mo. USD Term SOFR +1.680%,
7.005%, due 01/20/371,2		400,000		401,764
TCW CLO Ltd.,
Series 2024-1A, Class A1,
3 mo. USD Term SOFR +1.600%,
6.926%, due 01/16/371,2		500,000		500,243
Trinitas CLO XII Ltd.,
Series 2020-12A, Class A1R,
3 mo. USD Term SOFR +1.370%,
6.694%, due 04/25/331,2		500,000		500,139
Venture 33 CLO Ltd.,
Series 2018-33A, Class A1LR,
3 mo. USD Term SOFR +1.322%,
6.650%, due 07/15/311,2		463,438		463,616

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
Asset-backed securities—(continued)
Venture 36 CLO Ltd.,
Series 2019-36A, Class A1AR,
3 mo. USD Term SOFR +1.392%,
6.716%, due 04/20/321,2	$	800,000	$	799,567
Vibrant CLO VI Ltd.,
Series 2017-6A, Class AR,
3 mo. USD Term SOFR +1.212%,
6.544%, due 06/20/291,2		11,154		11,156
Total asset-backed securities (cost—$19,903,524)				19,809,615
Mortgage-backed securities—16.9%
Adjustable Rate Mortgage Trust,
Series 2005-8, Class 3A21,
4.522%, due 11/25/351		257,949		178,490
BCAP LLC Trust,
Series 2010-RR1, Class 1A4,
4.567%, due 03/26/371,2		49,558		38,637
Series 2013-RR1, Class 3A4,
6.000%, due 10/26/371,2		131,083		88,650
Bear Stearns ARM Trust,
Series 2002-11, Class 1A2,
3.250%, due 02/25/331		1,206		876
Series 2004-2, Class 12A2,
4.336%, due 05/25/341		19,387		17,422
Bear Stearns Asset-Backed Securities I Trust,
Series 2004-AC3, Class A2,
5.500%, due 06/25/341		303,070		286,752
Bear Stearns Asset-Backed Securities Trust,
Series 2003-AC5, Class A1,
5.750%, due 10/25/331		127,868		133,229
Chevy Chase Funding LLC Mortgage-Backed Certificates,
Series 2004-1A, Class A1,
1 mo. USD Term SOFR +0.394%,
5.711%, due 01/25/351,2		9,297		8,638
CHL Mortgage Pass-Through Trust,
Series 2003-HYB1, Class 1A1,
4.638%, due 05/19/331		2,734		2,440
Series 2007-15, Class 2A2,
6.500%, due 09/25/37		24,182		8,316
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates,
Series KJ45, Class A2,
4.660%, due 01/25/31		600,000		583,973
Federal Home Loan Mortgage Corp. REMICS,
Series 2614, Class WO,
0.000%, due 05/15/335		317,450		263,018
Series 3598, Class JI,
0.000%, due 10/15/371		14,252		552
Series 3635, Class IB,
0.000%, due 10/15/371		39,370		2,179

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
Mortgage-backed securities—(continued)
Series 4255, Class SN,
(2.667)* 30 day USD SOFR Average +11.961%,
0.000%, due 05/15/351	$	291,758	$	252,942
Series 4263, Class SD,
(2.667)* 30 day USD SOFR Average +11.961%,
0.000%, due 11/15/431		320,246		249,314
Series 4265, Class ES,
(3.200)* 30 day USD SOFR Average +13.394%,
0.000%, due 11/15/431		828,981		632,082
Series 4839, Class UO,
0.010%, due 08/15/565		410,967		265,019
Series 4836, Class PO,
0.010%, due 10/15/585		728,743		489,245
Series 4463, Class IO,
0.109%, due 02/15/381		61,111		3,563
Series 4338, Class SB,
0.128%, due 10/15/411		55,467		2,750
Series 3621, Class WI,
0.149%, due 05/15/371		22,375		1,311
Series 4324, Class IO,
0.222%, due 08/15/361		39,559		1,744
Series 4367, Class GS,
0.258%, due 03/15/371		36,650		1,737
Series 4394, Class WI,
0.272%, due 08/15/411		31,440		1,924
Series 4438, Class WI,
0.306%, due 11/15/381		103,007		5,996
Series 3684, Class JI,
0.309%, due 11/15/361		113,217		4,476
Series 3962, Class KS,
0.395%, due 06/15/381		90,280		6,650
Series 4076, Class SW,
(1.000)* 30 day USD SOFR Average +5.936%,
0.606%, due 07/15/421		910,115		80,092
Series 4156, Class SA,
(1.000)* 30 day USD SOFR Average +6.086%,
0.756%, due 01/15/331		580,722		28,935
Series 3339, Class LI,
(1.000)* 30 day USD SOFR Average +6.366%,
1.036%, due 07/15/371		468,468		31,535
Series 5034, Class MI,
2.000%, due 11/25/50		661,701		85,812
Series 4182, Class YI,
2.500%, due 03/15/28		823,670		28,177

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
Mortgage-backed securities—(continued)
Series 2513, Class AS,
(1.000)* 30 day USD SOFR Average +7.886%,
2.556%, due 02/15/321	$	108,333	$	9,298
Series 4037, Class PI,
3.000%, due 04/15/27		159,484		1,864
Series 4100, Class HI,
3.000%, due 08/15/27		70,119		2,251
Series 4182, Class QI,
3.000%, due 02/15/33		46,423		2,680
Series 4165, Class TI,
3.000%, due 12/15/42		497,689		32,137
Series 4457, Class DI,
4.000%, due 08/15/24		6,522		18
Series 4544, Class IP,
4.000%, due 01/15/46		935,909		145,141
Series 3442, Class MT,
30 day USD SOFR Average +0.114%,
5.445%, due 07/15/341		27,092		25,323
Series 3864, Class NT,
(9.167)* 30 day USD SOFR Average +59.451%,
5.500%, due 03/15/391		197,026		193,009
Series 4832, Class FW,
30 day USD SOFR Average +0.464%,
5.785%, due 04/15/381		708,955		697,811
Series 2411, Class FJ,
30 day USD SOFR Average +0.464%,
5.795%, due 12/15/291		4,922		4,890
Series 3096, Class FL,
30 day USD SOFR Average +0.514%,
5.845%, due 01/15/361		51,073		50,299
Series 3114, Class PF,
30 day USD SOFR Average +0.514%,
5.845%, due 02/15/361		307,264		303,450
Series 3153, Class UF,
30 day USD SOFR Average +0.544%,
5.875%, due 05/15/361		76,989		76,469
Series 4945, Class F,
30 day USD SOFR Average +0.614%,
5.935%, due 12/15/461		112,103		110,505
Series 2400, Class FQ,
30 day USD SOFR Average +0.614%,
5.945%, due 01/15/321		14,601		14,576
Series 4068, Class UF,
30 day USD SOFR Average +0.614%,
5.945%, due 06/15/421		388,639		381,593
Series 3667, Class FW,
30 day USD SOFR Average +0.664%,
5.995%, due 02/15/381		6,727		6,640

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

 

	Face amount		Value
Mortgage-backed securities—(continued)
Series 4940, Class FE,
30 day USD SOFR Average +0.664%,
5.995%, due 01/25/501	$	245,596	$	242,826
Series 3671, Class FQ,
30 day USD SOFR Average +0.964%,
6.295%, due 12/15/361		446,296		449,444
Series 2136, Class GD,
7.000%, due 03/15/29		472		41
Series 2178, Class PI,
7.500%, due 08/15/29		3,229		371
Series 1775, Class Z,
8.500%, due 03/15/25		127		128
Federal Home Loan Mortgage Corp. STRIPS,
Series 386, Class C3,
2.500%, due 03/15/52		440,399		65,877
Series 389, Class C40,
2.500%, due 10/15/52		4,623,855		708,117
Series 303, Class C19,
3.500%, due 01/15/43		392,076		65,599
Series 345, Class C13,
3.500%, due 08/15/45		574,127		90,183
Series 330, Class F4,
30 day USD SOFR Average +0.464%,
5.785%, due 10/15/371		158,749		155,545
Series 326, Class F2,
30 day USD SOFR Average +0.664%,
5.995%, due 03/15/441		235,191		231,380
Federal Home Loan Mortgage Corp. Whole Loan Securities Trust,
Series 2015-SC02, Class 1A,
3.000%, due 09/25/45		194,464		166,625
Series 2017-SC01, Class 1A,
3.000%, due 12/25/46		343,519		281,113
Series 2017-SC01, Class 2A,
3.500%, due 12/25/46		384,694		325,426
Federal National Mortgage Association
6.130%, due 01/01/51		2,000,000		1,995,000
Federal National Mortgage Association Interest STRIPS,
Series 419, Class C3,
3.000%, due 11/25/43		84,139		11,602
Series 413, Class 111,
4.000%, due 07/25/421		415,566		59,466
Series 386, Class 14,
6.500%, due 04/25/38		30,014		8,341
Federal National Mortgage Association REMICS,
Series 2012-111, Class HS,
(0.833)* 30 day USD SOFR Average +3.571%,
0.000%, due 10/25/421		36,376		20,888

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
Mortgage-backed securities—(continued)
Series 2022-3, Class SD,
(1.000)* 30 day USD SOFR Average +2.550%,
0.000%, due 02/25/521	$	3,812,830	$	18,144
Series 2015-73, Class ES,
(2.333)* 30 day USD SOFR Average +9.066%,
0.000%, due 10/25/451		176,805		91,748
Series 2014-43, Class BS,
0.052%, due 07/25/441		182,322		6,235
Series 2016-17, Class CS,
0.075%, due 04/25/461		78,686		3,038
Series 2014-42, Class SA,
0.086%, due 07/25/441		106,927		3,248
Series 2020-70, Class IO,
0.152%, due 10/25/501		9,853,223		563,355
Series 2014-92, Class SB,
0.162%, due 01/25/451		96,323		4,341
Series 2015-10, Class SA,
0.184%, due 03/25/451		208,471		9,162
Series 2015-58, Class AI,
0.197%, due 08/25/551		100,277		4,140
Series 2014-84, Class AI,
(1.000)* 30 day USD SOFR Average +6.036%,
0.200%, due 02/25/431		240,028		1,527
Series 2015-19, Class AI,
0.204%, due 04/25/551		170,434		6,687
Series 2014-47, Class BI,
0.218%, due 08/25/541		171,890		7,031
Series 2016-76, Class CS,
0.273%, due 10/25/461		38,619		1,357
Series 2015-50, Class SB,
0.297%, due 07/25/451		548,272		21,655
Series 2012-77, Class IO,
0.305%, due 07/25/521		99,157		3,880
Series 2015-64, Class KS,
0.430%, due 09/25/451		118,918		6,309
Series 2014-45, Class SA,
0.439%, due 08/25/441		87,574		3,712
Series 2019-62, Class SN,
(1.000)* 30 day USD SOFR Average +5.886%,
0.556%, due 11/25/491		194,262		19,422
Series 2013-28, Class YS,
(1.000)* 30 day USD SOFR Average +6.036%,
0.706%, due 07/25/421		332,616		29,776
Series 2013-34, Class PS,
(1.000)* 30 day USD SOFR Average +6.036%,
0.706%, due 08/25/421		292,928		15,103

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
Mortgage-backed securities—(continued)
Series 2010-76, Class SA,
(1.000)* 30 day USD SOFR Average +6.386%,
1.056%, due 07/25/401	$	393,184	$	24,560
Series 2021-3, Class TI,
2.500%, due 02/25/51		843,514		137,007
Series 2013-30, Class GI,
3.000%, due 01/25/43		602,500		48,158
Series 2013-45, Class IK,
3.000%, due 02/25/43		482,874		48,772
Series 2013-30, Class JI,
3.000%, due 04/25/43		242,297		29,471
Series 2013-116, Class IY,
3.000%, due 09/25/43		173,029		11,025
Series 2016-14, Class IO,
3.000%, due 03/25/46		343,054		42,618
Series 2016-20, Class EI,
3.000%, due 04/25/46		109,193		13,625
Series 2016-52, Class PI,
3.000%, due 04/25/46		271,953		31,276
Series 2016-64, Class IA,
3.000%, due 05/25/46		269,223		32,403
Series 2018-28, Class CA,
3.000%, due 05/25/48		223,325		190,587
Series 2016-63, Class YI,
3.500%, due 04/25/46		48,041		3,597
Series 2020-54, Class WF,
30 day USD SOFR Average +0.564%,
3.521%, due 08/25/501		461,379		444,050
Series 2015-47, Class GI,
4.000%, due 06/25/44		33,013		2,654
Series 2012-122, Class LI,
4.500%, due 07/25/41		231,315		16,653
Series 2018-85, Class FE,
30 day USD SOFR Average +0.414%,
5.745%, due 12/25/481		1,394,648		1,364,005
Series 2007-67, Class FB,
30 day USD SOFR Average +0.434%,
5.765%, due 07/25/371		27,225		26,669
Series 2012-128, Class FK,
30 day USD SOFR Average +0.464%,
5.795%, due 11/25/421		116,929		113,877
Series 2002-60, Class F1,
30 day USD SOFR Average +0.514%,
5.845%, due 06/25/321		34,529		34,250
Series 2019-10, Class FA,
30 day USD SOFR Average +0.514%,
5.845%, due 03/25/491		2,191,794		2,151,321
Series 2012-90, Class FB,
30 day USD SOFR Average +0.554%,
5.885%, due 08/25/421		40,912		40,091

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
Mortgage-backed securities—(continued)
Series 2010-141, Class FA,
30 day USD SOFR Average +0.614%,
5.945%, due 12/25/401	$	110,696	$	108,802
Series 2009-33, Class FB,
30 day USD SOFR Average +0.934%,
6.265%, due 03/25/371		250,135		251,235
Federal National Mortgage Association-Aces,
Series 2020-M33, Class X2,
2.349%, due 01/25/311		586,287		48,382
Series 2016-M11, Class AL,
2.944%, due 07/25/39		452,945		391,603
Fremont Home Loan Trust,
Series 2004-A, Class M1,
1 mo. USD Term SOFR +0.939%,
6.256%, due 01/25/341		282,889		265,495
Government National Mortgage Association REMICS,
Series 2015-166, Class SA,
0.000%, due 06/20/421		137,757		2,578
Series 2015-180, Class SA,
0.000%, due 06/20/421		149,370		3,242
Series 2015-127, Class AS,
0.000%, due 06/20/431		137,782		3,679
Series 2016-138, Class WI,
0.000%, due 08/20/451		127,031		2,727
Series 2016-180, Class WI,
0.000%, due 09/20/451		236,578		5,108
Series 2017-15, Class WI,
0.000%, due 11/20/451		143,165		3,254
Series 2017-57, Class WI,
0.000%, due 12/20/451		63,830		1,690
Series 2015-126, Class GS,
1 mo. USD Term SOFR +9.066%,
0.000%, due 09/20/451		323,052		170,594
Series 2007-18, Class CO,
0.010%, due 03/20/355		12,401		11,229
Series 2013-77, Class GI,
3.000%, due 02/20/43		691,460		57,852
Series 2017-H23, Class MA,
3.000%, due 11/20/67		610,900		575,073
Series 2014-158, Class IA,
3.500%, due 10/20/29		223,511		12,740
Series 2013-23, Class IP,
3.500%, due 08/20/42		564,282		62,524
Series 2015-165, Class IB,
3.500%, due 11/20/42		145,291		14,228
Series 2016-118, Class IE,
3.500%, due 09/20/46		29,300		4,932

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
Mortgage-backed securities—(continued)
Series 2013-H19, Class DF,
1 mo. USD Term SOFR +0.764%,
6.087%, due 05/20/631	$	194,899	$	194,385
Series 2015-H30, Class FA,
1 mo. USD Term SOFR +0.794%,
6.117%, due 08/20/611		3,393		3,356
Series 2015-H29, Class FJ,
1 mo. USD Term SOFR +0.794%,
6.117%, due 11/20/651		1,041,358		1,036,999
Series 2015-H29, Class FA,
1 mo. USD Term SOFR +0.814%,
6.137%, due 10/20/651		1,328		1,316
Series 2013-H23, Class TA,
1 mo. USD Term SOFR +0.834%,
6.157%, due 09/20/631		74,284		74,372
Series 2015-H27, Class FA,
1 mo. USD Term SOFR +0.864%,
6.187%, due 09/20/651		1,273,138		1,269,006
Series 2024-H01, Class FB,
30 day USD SOFR Average +0.900%,
6.230%, due 01/20/741		1,009,142		1,011,420
Series 2016-H14, Class FA,
1 mo. USD Term SOFR +0.914%,
6.237%, due 06/20/661		256,299		255,650
Series 2024-H02, Class FH,
30 day USD SOFR Average +0.930%,
6.260%, due 01/20/741		2,015,679		2,018,003
Series 2010-H01, Class FA,
1 mo. USD Term SOFR +0.934%,
6.267%, due 01/20/601		448,993		450,022
Series 2024-H02, Class FJ,
30 day USD SOFR Average +1.000%,
6.330%, due 12/20/731		1,508,316		1,520,215
Series 2013-H20, Class FB,
1 mo. USD Term SOFR +1.114%,
6.437%, due 08/20/631		118,636		119,447
GS Mortgage-Backed Securities Trust,
Series 2022-MM1, Class A2,
2.500%, due 07/25/521,2		1,530,662		1,176,995
GSR Mortgage Loan Trust,
Series 2004-14, Class 2A1,
1 mo. USD Term SOFR +0.444%,
5.761%, due 12/25/341		888		841
IndyMac INDX Mortgage Loan Trust,
Series 2005-AR2, Class 2A1A,
1 mo. USD Term SOFR +0.754%,
6.071%, due 02/25/351		163,074		147,375

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
Mortgage-backed securities—(continued)
JP Morgan Alternative Loan Trust,
Series 2008-R4, Class 2A1,
1 mo. USD Term SOFR +0.614%,
5.947%, due 06/27/371,2	$	419,858	$	278,082
JP Morgan Mortgage Trust,
Series 2019-6, Class A11,
1 mo. USD Term SOFR +1.014%,
6.331%, due 12/25/491,2		374,349		359,442
Series 2019-INV2, Class A11,
1 mo. USD Term SOFR +1.014%,
6.331%, due 02/25/501,2		483,631		462,926
Merrill Lynch Mortgage Investors Trust,
Series 2004-1, Class 2A2,
5.204%, due 12/25/341		54,224		50,238
Series 2004-A, Class A1,
1 mo. USD Term SOFR +0.574%,
5.891%, due 04/25/291		10,687		9,828
Morgan Stanley Mortgage Loan Trust,
Series 2004-11AR, Class 1A1,
1 mo. USD Term SOFR +0.434%,
5.751%, due 01/25/351		14,479		13,298
Morgan Stanley Re-REMICS Trust,
Series 2010-R4, Class 4B,
1 mo. USD Term SOFR +0.344%,
2.862%, due 02/26/371,2		94,623		78,940
Mortgage Equity Conversion Asset Trust,
Series 2007-FF3, Class A,
1 yr. CMT +0.500%,
5.640%, due 05/25/421,2		1,111,052		1,088,704
OBX Trust,
Series 2022-INV2, Class A1,
3.000%, due 01/25/521,2		537,142		433,050
Residential Asset Securitization Trust,
Series 2006-A7CB, Class 1A1,
1 mo. USD Term SOFR +0.614%,
5.931%, due 07/25/361		197,700		128,298
Sequoia Mortgage Trust 11,
Series 11, Class A,
1 mo. USD Term SOFR +1.014%,
6.330%, due 12/20/321		82,282		72,081
Sequoia Mortgage Trust 5,
Series 5, Class A,
1 mo. USD Term SOFR +0.814%,
6.133%, due 10/19/261		20,122		19,434
Structured Adjustable Rate Mortgage Loan Trust,
Series 2007-4, Class 1A2,
1 mo. USD Term SOFR +0.554%,
5.871%, due 05/25/371		80,061		68,239

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – April 30, 2024 (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%,
5.851%, due 04/25/361	$	150,103	$	128,346
Thornburg Mortgage Securities Trust,
Series 2005-1, Class A3,
5.600%, due 04/25/451		18,264		17,212
WaMu Mortgage Pass-Through Certificates Trust,
Series 2003-AR9, Class 2A,
5.878%, due 09/25/331		27,938		26,370
Total mortgage-backed securities (cost—$35,449,632)				30,859,798
U.S. government agency obligations: 186.3%
Federal Home Loan Mortgage Corp.
1.500%, due 04/01/37		879,946		741,458
2.000%, due 04/01/36		672,881		585,036
2.500%, due 01/01/31		63,867		59,669
2.500%, due 11/01/31		24,398		22,617
2.500%, due 07/01/32		44,426		40,827
2.500%, due 08/01/32		192,640		176,797
2.500%, due 09/01/32		254,489		233,287
2.500%, due 11/01/32		8,408		7,713
2.500%, due 12/01/32		234,558		214,676
2.500%, due 01/01/33		58,100		53,146
2.500%, due 12/01/50		1,045,014		828,137
2.500%, due 08/01/51		4,796,648		3,862,191
2.500%, due 09/01/51		817,354		655,668
2.500%, due 03/01/52		1,276,567		1,020,162
2.500%, due 04/01/52		94,306		75,291
3.000%, due 10/01/26		8,309		8,035
3.000%, due 11/01/26		48,807		47,265
3.000%, due 01/01/27		246,857		238,494
3.000%, due 02/01/32		86,304		80,667
3.000%, due 04/01/32		444,080		415,111
3.000%, due 05/01/32		300,574		280,737
3.000%, due 07/01/32		164,334		153,347
3.000%, due 10/01/32		169,698		158,090
3.000%, due 11/01/32		298,069		277,564
3.000%, due 01/01/33		652,542		605,905
3.000%, due 02/01/40		1,033,991		909,913
3.000%, due 06/01/42		1,465,508		1,265,325
3.000%, due 07/01/42		168,353		145,356
3.000%, due 08/01/42		59,643		51,496
3.000%, due 04/01/43		121,219		105,034
3.000%, due 05/01/43		68,411		59,232
3.000%, due 12/01/44		130,230		111,606
3.000%, due 08/01/46		133,635		112,296
3.000%, due 12/01/46		635,667		541,990
3.000%, due 06/01/50		513,870		433,393
3.000%, due 04/01/51		1,521,104		1,256,954
3.000%, due 06/01/51		772,347		638,224
3.000%, due 07/01/51		5,229,002		4,386,248

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
U.S. government agency obligations—(continued)
3.000%, due 10/01/51	$	152,385	$	127,910
3.000%, due 12/01/51		1,321,087		1,091,672
3.000%, due 02/01/52		426,591		352,481
3.000%, due 03/01/52		1,058,973		879,196
3.000%, due 04/01/52		2,760,256		2,288,329
3.050%, due 03/01/32		221,351		189,955
3.500%, due 09/01/32		178,018		168,812
3.500%, due 12/01/33		104,506		98,460
3.500%, due 06/01/34		62,077		58,255
3.500%, due 07/01/34		25,642		24,063
3.500%, due 03/01/35		390,348		366,316
3.500%, due 04/01/35		198,129		185,382
3.500%, due 03/01/42		802		719
3.500%, due 07/01/43		646		578
3.500%, due 05/01/48		611,221		538,588
3.500%, due 02/01/50		255,501		221,125
3.500%, due 11/01/51		227,268		196,082
3.500%, due 01/01/52		197,947		170,761
3.500%, due 03/01/52		189,064		162,922
3.500%, due 04/01/52		1,134,019		977,213
3.500%, due 09/01/52		947,183		816,212
4.000%, due 01/01/37		138,312		128,911
4.000%, due 03/01/43		473,953		435,377
4.000%, due 07/01/43		80,338		73,799
4.000%, due 08/01/44		1,133,457		1,045,320
4.000%, due 11/01/47		123,372		112,425
4.000%, due 01/01/48		340,226		310,042
4.000%, due 02/01/48		17,050		15,538
4.000%, due 03/01/48		10,411		9,478
4.000%, due 04/01/48		26,366		24,002
4.000%, due 06/01/48		107,055		97,002
4.000%, due 10/01/48		1,538,505		1,401,092
4.000%, due 12/01/48		139,402		126,310
4.000%, due 04/01/49		527,090		478,997
4.500%, due 09/01/34		482,370		466,717
4.500%, due 01/01/36		9,913		9,591
4.500%, due 05/01/37		1,082		1,037
4.500%, due 05/01/38		26,577		25,458
4.500%, due 12/01/42		130,114		122,030
4.500%, due 01/01/43		155,222		145,578
4.500%, due 02/01/43		245,396		230,150
4.500%, due 06/01/43		379,223		355,943
4.500%, due 02/01/49		53,798		50,430
4.500%, due 06/01/50		305,203		283,820
4.500%, due 12/01/52		461,136		427,704
4.500%, due 03/01/53		499,079		461,838
4.500%, due 06/01/53		194,941		180,136
5.000%, due 10/01/25		3,863		3,825
5.000%, due 11/01/27		1,361		1,345
5.000%, due 09/01/33		58,093		57,248
5.000%, due 06/01/34		3,068		3,018
5.000%, due 04/01/35		23,927		23,535

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
U.S. government agency obligations—(continued)
5.000%, due 05/01/35	$	30,551	$	30,001
5.000%, due 07/01/35		53,908		52,938
5.000%, due 08/01/35		8,259		8,110
5.000%, due 10/01/35		7,638		7,501
5.000%, due 12/01/35		224		220
5.000%, due 07/01/38		115,789		113,504
5.000%, due 11/01/38		75,596		74,190
5.000%, due 06/01/39		17,609		17,238
5.000%, due 03/01/40		1,866		1,825
5.000%, due 07/01/40		82,606		80,817
5.000%, due 09/01/40		76,484		74,889
5.000%, due 11/01/40		22,839		22,345
5.000%, due 02/01/41		98,602		96,397
5.000%, due 03/01/41		17,471		17,081
5.000%, due 04/01/41		40,426		39,517
5.000%, due 05/01/41		26,795		26,196
5.000%, due 07/01/41		16,566		16,196
5.000%, due 08/01/44		17,374		17,051
5.000%, due 03/01/49		595,774		574,676
5.000%, due 02/01/53		537,180		511,696
5.000%, due 03/01/53		285,268		271,496
5.000%, due 05/01/53		752,039		715,700
5.000%, due 06/01/53		1,462,900		1,399,883
5.000%, due 08/01/53		403,641		384,067
1 yr. CMT +2.282%,
5.282%, due 06/01/281		8,024		8,031
5.500%, due 02/01/32		501		501
5.500%, due 12/01/32		948		948
5.500%, due 02/01/33		22,819		22,842
5.500%, due 05/01/33		225		225
5.500%, due 06/01/33		89,031		89,125
5.500%, due 12/01/33		16,937		16,955
5.500%, due 12/01/34		14,425		14,467
5.500%, due 06/01/35		238,196		238,773
5.500%, due 07/01/35		1,872		1,874
5.500%, due 10/01/35		85,563		85,878
5.500%, due 12/01/35		31,576		31,693
5.500%, due 06/01/36		135,372		135,761
5.500%, due 12/01/36		204,331		204,743
5.500%, due 03/01/37		27,310		27,369
5.500%, due 07/01/37		42,155		42,246
5.500%, due 10/01/37		1,059		1,061
5.500%, due 04/01/38		39,780		39,860
5.500%, due 05/01/38		4,198		4,211
5.500%, due 12/01/38		654		656
5.500%, due 01/01/39		19,130		19,171
5.500%, due 09/01/39		60,689		60,819
5.500%, due 02/01/40		2,497		2,505
5.500%, due 03/01/40		2,341		2,349
5.500%, due 05/01/40		35,606		35,716
5.500%, due 03/01/41		37,307		37,421

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
U.S. government agency obligations—(continued)
1 yr. CMT +2.150%,
5.590%, due 11/01/271	$	18,206	$	18,140
1 yr. CMT +2.282%,
5.971%, due 07/01/281		25,966		25,914
1 yr. CMT +2.221%,
5.983%, due 11/01/291		22,920		22,876
6.000%, due 11/01/37		384,365		395,027
1 yr. USD RFUCCT +1.765%,
6.014%, due 11/01/361		156,313		158,232
1 yr. CMT +2.497%,
6.038%, due 10/01/271		5,647		5,626
1 yr. USD RFUCCT +1.769%,
6.053%, due 10/01/391		455,106		459,164
1 yr. USD RFUCCT +1.862%,
6.065%, due 11/01/411		456,852		466,128
1 yr. CMT +2.250%,
6.261%, due 09/01/341		199,062		202,592
1 yr. CMT +2.137%,
6.262%, due 01/01/281		3,385		3,366
1 yr. CMT +2.444%,
6.284%, due 10/01/271		14,385		14,366
6.500%, due 02/01/54		1,718,894		1,732,339
1 yr. CMT +2.415%,
6.577%, due 01/01/291		10,411		10,364
1 yr. CMT +2.415%,
6.628%, due 11/01/251		8,451		8,378
1 yr. CMT +2.525%,
6.650%, due 12/01/291		1,398		1,404
1 yr. CMT +2.625%,
6.750%, due 01/01/301		13,505		13,606
7.000%, due 08/01/25		10		9
Federal National Mortgage Association
1.500%, due 08/01/51		480,425		345,421
2.000%, due 05/01/28		70,451		66,219
2.000%, due 09/01/31		60,200		54,770
2.000%, due 11/01/31		189,271		172,613
2.000%, due 01/01/32		48,788		44,294
2.500%, due 06/01/28		42,482		40,615
2.500%, due 07/01/28		402,800		382,892
2.500%, due 08/01/28		134,909		128,221
2.500%, due 09/01/30		11,661		10,894
2.500%, due 11/01/30		15,103		14,096
2.500%, due 01/01/33		185,122		169,276
2.500%, due 11/01/50		408,238		323,530
2.500%, due 01/01/51		1,096,352		868,778
2.500%, due 02/01/51		504,395		402,039
2.500%, due 04/01/51		1,454,093		1,158,192
2.500%, due 09/01/51		1,648,988		1,320,005
2.500%, due 01/01/52		1,608,405		1,281,601
2.500%, due 03/01/52		730,742		584,104

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
U.S. government agency obligations—(continued)
2.500%, due 04/01/52	$	1,331,840	$	1,064,347
3.000%, due 10/01/26		11,277		10,894
3.000%, due 11/01/26		237,771		229,791
3.000%, due 12/01/26		21,067		20,332
3.000%, due 01/01/27		230,422		222,391
3.000%, due 02/01/27		45,305		43,683
3.000%, due 05/01/28		48,464		46,658
3.000%, due 02/01/30		59,141		56,464
3.000%, due 04/01/30		23,284		22,021
3.000%, due 05/01/30		29,742		28,090
3.000%, due 10/01/30		8,959		8,430
3.000%, due 04/01/31		655,020		620,212
3.000%, due 02/01/32		85,012		79,432
3.000%, due 03/01/32		82,497		77,034
3.000%, due 04/01/32		409,631		382,404
3.000%, due 05/01/32		123,584		115,306
3.000%, due 07/01/32		244,389		227,685
3.000%, due 08/01/32		105,561		98,285
3.000%, due 11/01/32		211,493		196,651
3.000%, due 01/01/38		257,463		230,127
3.000%, due 04/01/38		243,337		215,506
3.000%, due 05/01/42		175,209		151,043
3.000%, due 06/01/42		180,722		156,047
3.000%, due 07/01/42		352,038		303,951
3.000%, due 01/01/43		934,509		810,817
3.000%, due 04/01/43		286,010		247,428
3.000%, due 05/01/43		301,858		261,138
3.000%, due 06/01/43		39,644		34,296
3.000%, due 09/01/43		25,294		21,882
3.000%, due 11/01/46		1,120,446		968,958
3.000%, due 12/01/46		2,615,080		2,236,080
3.000%, due 02/01/47		210,537		182,136
3.000%, due 09/01/49		786,907		652,495
3.000%, due 11/01/49		220,150		187,367
3.000%, due 02/01/50		1,549,070		1,284,474
3.000%, due 03/01/50		3,474,145		2,928,092
3.000%, due 07/01/50		582,395		482,694
3.000%, due 12/01/50		455,909		377,597
3.000%, due 02/01/51		1,927,056		1,592,411
3.000%, due 04/01/51		3,275,501		2,706,689
3.000%, due 05/01/51		3,423,626		2,829,091
3.000%, due 08/01/51		426,121		351,958
3.000%, due 10/01/51		178,429		147,444
3.000%, due 11/01/51		233,425		192,889
3.000%, due 12/01/51		419,474		346,629
3.000%, due 02/01/52		120,174		100,280
3.000%, due 03/01/52		966,803		798,844
3.000%, due 04/01/52		3,606,625		2,980,724
3.000%, due 07/01/52		448,535		372,591
3.000%, due 02/01/57		549,838		454,546
3.000%, due 05/01/58		579,307		478,452
3.500%, due 11/01/25		28,374		27,806

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
U.S. government agency obligations—(continued)
3.500%, due 08/01/26	$	116,649	$	113,868
3.500%, due 06/01/28		75,968		72,511
3.500%, due 08/01/29		13,597		13,068
3.500%, due 09/01/32		307,207		298,989
3.500%, due 11/01/33		41,905		39,503
3.500%, due 02/01/34		63,866		60,157
3.500%, due 01/01/35		122,857		115,293
3.500%, due 02/01/35		119,018		111,690
3.500%, due 04/01/35		116,337		108,852
3.500%, due 05/01/35		717,462		677,157
3.500%, due 03/01/42		168,840		151,350
3.500%, due 04/01/42		11,535		10,338
3.500%, due 07/01/42		285		256
3.500%, due 09/01/42		59,276		53,135
3.500%, due 12/01/42		678,792		608,406
3.500%, due 03/01/43		414,081		370,780
3.500%, due 05/01/43		1,788		1,601
3.500%, due 07/01/43		2,422,633		2,171,124
3.500%, due 08/01/43		5,724,762		5,130,806
3.500%, due 01/01/44		80,878		72,500
3.500%, due 06/01/45		1,307,320		1,157,815
3.500%, due 08/01/45		20,671		18,307
3.500%, due 10/01/45		7,541		6,709
3.500%, due 09/01/46		515,383		458,973
3.500%, due 02/01/47		1,504,148		1,346,810
3.500%, due 08/01/47		144,854		128,297
3.500%, due 09/01/47		193,517		171,998
3.500%, due 11/01/47		257,628		228,026
3.500%, due 12/01/47		249,858		221,299
3.500%, due 02/01/48		226,152		197,170
3.500%, due 03/01/48		825,732		721,013
3.500%, due 02/01/50		91,112		78,854
3.500%, due 03/01/50		3,940,234		3,407,337
3.500%, due 04/01/50		336,157		290,660
3.500%, due 02/01/52		473,755		408,394
3.500%, due 03/01/52		293,479		252,899
3.500%, due 08/01/52		1,663,311		1,433,317
3.500%, due 06/01/56		718,845		619,691
3.500%, due 01/01/57		650,008		557,701
3.500%, due 01/01/59		968,287		824,671
3.575%, due 02/01/26		500,000		484,300
4.000%, due 07/01/25		354		349
4.000%, due 09/01/25		260		256
4.000%, due 10/01/25		361		355
4.000%, due 11/01/25		1,203		1,182
4.000%, due 01/01/26		26,584		26,114
4.000%, due 02/01/26		54,550		53,485
4.000%, due 03/01/26		6,770		6,634
4.000%, due 04/01/26		117,418		115,131
4.000%, due 08/01/32		1,004		962
4.000%, due 06/01/33		35,789		34,396
4.000%, due 07/01/33		248,647		237,191

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
U.S. government agency obligations—(continued)
4.000%, due 08/01/33	$	721,159	$	692,953
4.000%, due 07/01/34		340,739		324,028
4.000%, due 07/01/35		668,494		636,884
4.000%, due 04/01/37		541,477		508,336
4.000%, due 03/01/38		397,565		373,416
4.000%, due 07/01/38		475,650		445,541
4.000%, due 08/01/38		214,467		201,184
4.000%, due 09/01/38		261,862		245,286
4.000%, due 05/01/39		46,493		43,183
4.000%, due 09/01/39		123,093		114,338
4.000%, due 09/01/40		897,438		833,071
4.000%, due 12/01/40		700,342		650,169
4.000%, due 11/01/41		275,646		255,097
4.000%, due 12/01/41		350,546		324,413
4.000%, due 07/01/42		1,510,739		1,396,802
4.000%, due 09/01/42		2,257,012		2,085,052
4.000%, due 10/01/42		1,853,363		1,712,157
4.000%, due 08/01/44		94,509		87,477
4.000%, due 12/01/44		4,904		4,495
4.000%, due 06/01/45		10,028		9,179
4.000%, due 08/01/45		823,954		754,208
4.000%, due 02/01/47		66,615		60,814
4.000%, due 03/01/47		29,277		26,650
4.000%, due 04/01/47		107,914		98,374
4.000%, due 05/01/47		197,120		179,661
4.000%, due 06/01/47		5,160		4,709
4.000%, due 11/01/47		22,746		20,700
4.000%, due 01/01/48		91,172		82,969
4.000%, due 02/01/48		186,886		169,178
4.000%, due 03/01/48		94,476		85,634
4.000%, due 12/01/48		223,751		202,371
4.000%, due 06/01/49		704,567		641,059
1 yr. CMT +2.099%,
4.283%, due 05/01/301		10,755		10,605
4.490%, due 04/01/33		300,000		286,290
4.500%, due 06/01/29		6,695		6,469
4.500%, due 06/01/35		12,541		12,116
4.500%, due 12/01/38		133,848		128,909
4.500%, due 01/01/39		498		476
4.500%, due 02/01/39		55,891		53,639
4.500%, due 03/01/39		3,300		3,158
4.500%, due 06/01/39		21,908		20,966
4.500%, due 07/01/39		1,703		1,630
4.500%, due 08/01/39		58,750		56,218
4.500%, due 10/01/39		1,709		1,635
4.500%, due 12/01/39		131,403		125,750
4.500%, due 01/01/40		1,367		1,308
4.500%, due 02/01/40		1,384		1,324
4.500%, due 03/01/40		30,357		28,982
4.500%, due 08/01/40		22,840		21,806
4.500%, due 11/01/40		233,109		222,537
4.500%, due 07/01/41		158,425		151,037

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
U.S. government agency obligations—(continued)
4.500%, due 08/01/41	$	293,951	$	280,259
4.500%, due 01/01/42		786,180		750,581
4.500%, due 08/01/42		1,928		1,835
4.500%, due 09/01/42		97,009		90,891
4.500%, due 05/01/43		496,159		465,701
4.500%, due 06/01/43		1,084,380		1,017,812
4.500%, due 07/01/43		1,813,744		1,702,402
4.500%, due 09/01/43		128,275		121,695
4.500%, due 11/01/43		27,846		26,414
4.500%, due 07/01/44		114,807		108,914
4.500%, due 12/01/44		834		790
4.500%, due 09/01/48		139,042		130,338
4.500%, due 01/01/49		135,400		126,850
4.500%, due 07/01/52		2,940,763		2,715,312
4.500%, due 05/01/53		120,172		111,046
4.500%, due 07/01/53		175,949		162,587
4.500%, due 08/01/53		4,361,541		4,062,508
4.500%, due 04/01/59		666,793		622,711
4.700%, due 04/01/33		313,000		302,535
5.000%, due 03/01/25		889		881
5.000%, due 05/01/37		3,348		3,281
5.000%, due 09/01/37		6,869		6,732
5.000%, due 06/01/38		32,228		31,549
5.000%, due 06/01/48		89,906		86,590
5.000%, due 07/01/48		35,301		34,000
5.000%, due 03/01/49		27,954		26,929
5.000%, due 06/01/53		804,007		768,003
5.000%, due 08/01/53		88,002		83,735
5.500%, due 11/01/32		19,320		19,302
5.500%, due 12/01/33		452		451
5.500%, due 04/01/34		10,463		10,478
5.500%, due 01/01/35		59,306		59,396
5.500%, due 05/01/37		65,786		65,838
5.500%, due 07/01/37		32,485		32,511
5.500%, due 06/01/38		53,463		53,554
5.500%, due 11/01/39		129,093		129,312
5.500%, due 07/01/40		150,210		150,466
5.500%, due 02/01/42		85,882		85,950
5.500%, due 08/01/53		490,021		478,003
5.610%, due 10/01/28		883,000		889,528
1 yr. CMT +2.241%,
5.858%, due 01/01/361		135,598		138,152
1 yr. USD RFUCCT +1.729%,
5.889%, due 05/01/381		404,523		409,402
6.000%, due 12/01/32		3,746		3,810
6.000%, due 02/01/33		6,748		6,862
6.000%, due 09/01/34		42,274		42,995
6.000%, due 05/01/35		9,454		9,659
6.000%, due 06/01/35		5,207		5,320
6.000%, due 07/01/35		15,058		15,385
6.000%, due 09/01/35		597		610
6.000%, due 01/01/36		9,029		9,225

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
U.S. government agency obligations—(continued)
6.000%, due 06/01/36	$	185	$	190
6.000%, due 09/01/36		14,508		14,889
6.000%, due 12/01/36		52,168		53,539
6.000%, due 03/01/37		3,776		3,876
6.000%, due 10/01/37		16,455		16,888
6.000%, due 11/01/38		134,422		137,975
6.000%, due 05/01/39		16,766		17,209
6.000%, due 11/01/40		182,357		187,168
6.000%, due 05/01/49		320,613		318,080
1 yr. CMT +2.095%,
6.095%, due 09/01/261		4		4
1 yr. CMT +2.238%,
6.142%, due 10/01/371		649,199		663,124
1 yr. CMT +2.129%,
6.196%, due 09/01/411		87,491		88,213
1 yr. USD RFUCCT +1.790%,
6.277%, due 02/01/421		61,194		61,900
1 yr. MTA +1.200%,
6.289%, due 03/01/441		62,535		61,206
1 yr. CMT +2.285%,
6.398%, due 05/01/351		63,793		64,711
6.500%, due 10/01/36		183,931		191,369
6.500%, due 02/01/37		2,549		2,653
6.500%, due 07/01/37		25,844		26,935
6.500%, due 08/01/37		11,844		12,346
6.500%, due 09/01/37		20,298		21,155
6.500%, due 12/01/37		36,238		37,769
6.500%, due 05/01/40		386,258		402,664
6.500%, due 02/01/54		2,112,660		2,129,185
1 yr. CMT +2.503%,
6.629%, due 12/01/271		7,129		7,153
Federal National Mortgage Association REMICS
30 day USD SOFR Average + 0.900%
5.829%, due 12/25/501		958,129		967,724
Government National Mortgage Association
2.500%, due 09/20/51		5,389,155		4,425,465
3.000%, due 11/15/42		28,712		24,986
3.000%, due 01/20/43		419,083		365,914
3.000%, due 02/15/43		374,978		320,806
3.000%, due 02/20/43		423,847		370,073
3.000%, due 05/15/43		359,241		311,528
3.000%, due 06/15/43		118,784		103,010
3.000%, due 07/15/43		22,210		19,260
3.000%, due 11/20/43		86,712		75,369
3.000%, due 01/15/45		257,033		218,576
3.000%, due 02/15/45		18,799		15,992
3.000%, due 07/15/45		359,943		306,205
3.000%, due 10/15/45		655,017		561,284
3.000%, due 09/20/47		438,557		378,474
3.000%, due 02/20/48		269,516		232,592
3.000%, due 04/20/50		1,603,456		1,373,295

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
U.S. government agency obligations—(continued)
3.000%, due 10/20/51	$	155,628	$	132,603
3.000%, due 09/20/52		447,488		380,624
3.000%, due 02/20/53		906,874		774,906
3.500%, due 11/15/42		219,390		198,013
3.500%, due 03/15/45		116,088		102,865
3.500%, due 04/15/45		105,403		94,063
3.500%, due 04/20/45		3,425		3,075
3.500%, due 11/20/45		517,733		464,871
3.500%, due 12/20/45		205,827		184,811
3.500%, due 04/20/46		316,899		282,935
3.500%, due 05/20/46		351,386		313,705
3.500%, due 04/20/47		304,403		271,344
3.500%, due 07/20/47		2,180,326		1,945,920
3.500%, due 08/20/47		226,492		201,893
3.500%, due 09/20/47		87,633		78,115
3.500%, due 11/20/47		291,712		260,031
3.500%, due 12/20/47		81,243		72,420
3.500%, due 01/20/48		1,391,066		1,239,989
3.500%, due 02/20/48		1,123,138		1,001,160
3.500%, due 03/20/48		1,690,880		1,507,242
3.500%, due 09/20/48		474,602		423,058
3.500%, due 02/20/53		364,647		323,396
1 yr. CMT +1.500%,
3.625%, due 01/20/251		133		132
1 yr. CMT +1.500%,
3.625%, due 02/20/251		259		257
1 yr. CMT +1.500%,
3.625%, due 03/20/251		998		989
1 yr. CMT +1.500%,
3.625%, due 08/20/251		1,185		1,167
1 yr. CMT +1.500%,
3.625%, due 09/20/251		1,861		1,831
1 yr. CMT +1.500%,
3.625%, due 03/20/261		1,219		1,201
1 yr. CMT +1.500%,
3.625%, due 08/20/261		3,393		3,320
1 yr. CMT +1.500%,
3.625%, due 01/20/271		22,036		21,656
1 yr. CMT +1.500%,
3.625%, due 02/20/271		1,476		1,451
1 yr. CMT +1.500%,
3.625%, due 07/20/271		1,358		1,327
1 yr. CMT +1.500%,
3.625%, due 01/20/281		2,095		2,058
1 yr. CMT +1.500%,
3.625%, due 02/20/281		952		936
1 yr. CMT +1.500%,
3.625%, due 07/20/301		9,939		9,730
3.750%, due 05/20/30		288,991		276,511
1 yr. CMT +1.500%,
3.875%, due 04/20/261		13,428		13,218

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
U.S. government agency obligations—(continued)
1 yr. CMT +1.500%,
3.875%, due 06/20/261	$	4,916	$	4,836
1 yr. CMT +1.500%,
3.875%, due 04/20/271		3,717		3,650
1 yr. CMT +1.500%,
3.875%, due 04/20/301		1,773		1,748
1 yr. CMT +1.500%,
3.875%, due 05/20/301		17,707		17,475
4.000%, due 12/20/40		112,088		103,511
4.000%, due 07/20/41		42,536		39,523
4.000%, due 12/15/41		618,188		575,248
4.000%, due 01/15/47		36,269		33,354
4.000%, due 02/15/47		175,323		161,231
4.000%, due 04/15/47		329,161		301,615
4.000%, due 05/15/47		57,034		52,398
4.000%, due 06/15/47		32,113		29,503
4.000%, due 07/15/47		54,918		50,454
4.000%, due 08/15/47		86,786		79,733
4.000%, due 12/15/47		18,865		17,332
4.000%, due 12/20/47		54,844		50,353
4.000%, due 01/20/48		140,978		129,435
4.000%, due 03/20/48		188,139		172,565
4.000%, due 04/20/48		414,797		380,389
4.000%, due 05/20/48		122,857		112,779
4.000%, due 06/20/48		144,119		132,091
4.000%, due 07/20/48		42,216		38,671
4.000%, due 07/15/49		31,261		28,642
1 yr. CMT +1.500%,
4.000%, due 05/20/251		331		327
1 yr. CMT +1.500%,
4.000%, due 09/20/261		380		373
1 yr. CMT +1.500%,
4.000%, due 04/20/271		739		727
1 yr. CMT +1.500%,
4.000%, due 08/20/271		4,779		4,681
1 yr. CMT +1.500%,
4.000%, due 04/20/301		1,601		1,575
1 yr. CMT +1.500%,
4.000%, due 05/20/301		69,683		68,885
1 yr. CMT +1.500%,
4.000%, due 07/20/301		3,867		3,812
1 yr. CMT +1.500%,
4.000%, due 08/20/301		15,627		15,343
4.500%, due 09/15/39		199,048		190,989
4.500%, due 06/15/40		97,784		93,821
4.500%, due 07/20/40		16,811		16,115
4.500%, due 08/20/40		12,210		11,705
4.500%, due 09/20/40		50,835		48,730
4.500%, due 10/20/40		13,770		13,200
4.500%, due 01/20/41		65,630		62,913
4.500%, due 02/20/41		15,963		15,318

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
U.S. government agency obligations—(continued)
4.500%, due 03/20/41	$	97,912	$	93,939
4.500%, due 04/20/41		12,963		12,438
4.500%, due 06/20/41		111,648		107,132
4.500%, due 07/20/41		28,915		27,745
4.500%, due 09/20/41		2,871		2,755
4.500%, due 12/20/41		25,814		24,770
4.500%, due 05/20/43		5,992		5,744
4.500%, due 07/20/43		4,047		3,884
4.500%, due 10/20/44		53,702		50,689
4.500%, due 08/20/45		68,762		65,512
4.500%, due 12/15/45		9,109		8,648
4.500%, due 08/15/46		7,810		7,377
4.500%, due 09/15/46		136,540		128,967
4.500%, due 10/15/46		172,843		163,256
4.500%, due 01/15/47		223,266		210,882
4.500%, due 04/20/48		19,478		18,401
4.500%, due 05/20/48		54,779		51,751
4.500%, due 06/20/48		133,951		126,514
4.500%, due 10/20/48		166,367		155,221
4.500%, due 01/20/49		130,185		122,957
4.500%, due 02/20/49		227,116		214,506
1 yr. CMT +1.500%,
4.500%, due 05/20/251		1,309		1,298
1 yr. CMT +1.500%,
4.500%, due 06/20/251		1,783		1,768
1 yr. CMT +1.500%,
4.500%, due 07/20/301		4,380		4,320
1 yr. CMT +1.500%,
4.500%, due 08/20/301		959		946
1 yr. CMT +1.500%,
4.500%, due 10/20/301		2,965		2,916
5.000%, due 12/20/33		65,459		64,749
5.000%, due 01/20/34		32,698		32,343
5.000%, due 12/15/34		7,202		7,152
5.000%, due 02/20/38		45,678		44,994
5.000%, due 04/15/38		47,256		46,911
5.000%, due 04/20/38		53,337		52,546
5.000%, due 12/15/39		3,310		3,252
5.000%, due 05/15/40		80,622		79,205
5.000%, due 05/15/41		30,809		30,277
5.000%, due 08/20/41		7,429		7,301
5.000%, due 12/20/42		9,404		9,255
5.000%, due 08/20/43		777,473		764,069
5.000%, due 09/20/48		80,809		78,478
5.000%, due 10/20/48		129,741		125,998
5.000%, due 11/20/48		187,671		182,258
5.000%, due 12/20/48		171,522		166,575
5.500%, due 08/15/35		9,435		9,558
5.500%, due 02/15/38		837		850
5.500%, due 04/15/38		76,252		77,418
5.500%, due 05/15/38		77,294		78,506

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
U.S. government agency obligations—(continued)
5.500%, due 06/15/38	$	44,830	$	45,551
5.500%, due 10/15/38		216,101		219,392
5.500%, due 11/15/38		11,901		12,088
5.500%, due 12/15/38		2,523		2,562
5.500%, due 03/15/39		26,967		27,171
5.500%, due 05/15/39		19,499		19,800
5.500%, due 09/15/39		102,479		104,067
5.500%, due 01/15/40		3,544		3,571
5.500%, due 03/15/40		127,403		129,118
5.500%, due 09/20/48		28,405		28,244
6.000%, due 10/20/38		922		949
6.500%, due 02/15/29		71		72
6.500%, due 09/20/32		576		590
6.500%, due 01/15/36		7,619		7,746
6.500%, due 09/15/36		70,341		73,015
6.500%, due 02/15/37		1,083		1,111
6.500%, due 04/15/37		4,351		4,568
6.500%, due 01/15/38		4,924		5,128
6.500%, due 06/15/38		11,991		12,551
6.500%, due 07/15/38		261		261
6.500%, due 11/15/38		2,017		2,154
6.500%, due 12/20/38		4,495		4,710
9.000%, due 04/20/25		436		436
9.000%, due 12/20/26		776		781
9.000%, due 01/20/27		3,647		3,669
9.000%, due 09/20/30		696		707

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
U.S. government agency obligations—(continued)
9.000%, due 10/20/30	$	2,120	$	2,192
9.000%, due 11/20/30		2,543		2,583
Government National Mortgage Association REMICS
30 day USD SOFR Average +0.650%,
5.979%, due 02/20/741		1,000,000		1,000,000
30 day USD SOFR Average +0.790%,
6.120%, due 04/20/741		499,868		499,868
Government National Mortgage Association, TBA
2.000%		9,200,000		7,246,748
2.500%		2,500,000		2,050,997
3.000%		30,000,000		25,518,870
4.000%		4,550,000		4,124,589
4.500%		9,860,000		9,188,218
5.000%		6,000,000		5,741,826
5.500%		500,000		489,349
Uniform Mortgage-Backed Security, TBA
1.500%		3,000,000		2,152,737
2.000%		35,250,000		26,806,129
2.500%		9,850,000		7,792,542
3.000%		1,750,000		1,556,570
3.500%		23,850,000		20,650,905
4.500%		3,000,000		2,902,620
5.000%		6,900,000		6,616,439
5.500%		14,400,000		13,978,317
6.000%		7,000,000		6,935,334
6.500%		23,900,000		24,068,734
7.000%		2,200,000		2,243,736
Total U.S. government agency obligations (cost—$365,377,490)				340,667,087
U.S. Treasury obligations: 5.3%
U.S. Treasury Inflation-Indexed Bonds,
2.375%, due 01/15/256		493,794		493,003
U.S. Treasury Inflation-Indexed Notes
0.125% due 10/15/24		3,875,958		3,857,926
0.250% due 01/15/25		5,509,728		5,417,092
Total U.S. Treasury obligations (cost—$9,604,347)				9,768,021

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Number of shares		Value
Short-term investments—1.3%
Investment companies: 0.6%
State Street Institutional U.S. Government Money Market Fund, 5.248%7 (cost $1,056,409)	$	1,056,409	$	1,056,409

	Face amount
Short-term U.S. Treasury obligations—0.7%
U.S. Treasury Bills
5.343% due 05/30/246,7		256,000	254,927
5.376% due 07/11/246,7		52,000	51,463
5.380% due 07/11/246,7		446,000	441,393
5.384% due 07/11/246,7		492,000	486,915
5.385% due 07/11/246,7		61,000	60,369
5.395% due 07/25/246,7		71,000	70,121
Total short-term U.S. Treasury obligations (cost—$1,365,188)			1,365,188
Total Short-term investments (cost—$2,421,597)			2,421,597

	Number of contracts		Notional amount
Options Purchased: 0.1%
Put options: 0.1%
UMBS TBA strike @ 96.133, expires 05/06/24 (Counterparty: CITI)		3,500,000	USD	336,455,000	46,846
UMBS TBA strike @ 97.813, expires 05/06/24 (Counterparty: JPMCB)		1,500,000	USD	146,715,000	11,313
UMBS TBA strike @ 98.719, expires 05/06/24 (Counterparty: CITI)		2,000,000	USD	197,440,000	1,505
UMBS TBA strike @ 96.203, expires 05/06/24 (Counterparty: BOA)		1,000,000	USD	96,200,000	14,040
UMBS TBA strike @ 96.313, expires 06/06/24 (Counterparty: CITI)		2,000,000	USD	192,620,000	34,743
UMBS TBA strike @ 96.402, expires 06/06/24 (Counterparty: MSCI)		2,000,000	USD	192,800,000	36,096
UMBS TBA strike @ 96.375, expires 06/06/24 (Counterparty: BOA)		2,000,000	USD	192,760,000	35,681
UMBS TBA strike @ 98.852, expires 06/06/24 (Counterparty: MSCI)		3,500,000	USD	345,975,000	14,893
Total Put options					195,117
Total Options Purchased (cost—$80,156)					195,117
Swaptions Purchased: 0.3%
Put swaptions: 0.3%
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	USD	8,500,000	21,043
1 Year USD SOFR Interest Rate Swap strike @ 5.000, expires 12/16/24 (Counterparty: MSCI; pay floating rate); underlying swap terminates 12/18/25		4,300,000	USD	4,300,000	12,045
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	USD	10,000,000	11,242

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – April 30, 2024 (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	USD	16,400,000	$	20,552
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	USD	6,800,000		32,795
10 Year USD SOFR Interest Rate Swap strike @ 5.250, expires 08/19/24 (Counterparty: GS; pay floating rate); underlying swap terminates 01/30/35		6,300,000	USD	6,300,000		8,189
7 Year USD SOFR Interest Rate Swap strike @ 5.250, expires 03/03/25 (Counterparty: JPMCB; pay floating rate); underlying swap terminates 03/05/26		8,000,000	USD	8,000,000		16,386
1 Year USD SOFR Interest Rate Swap strike @ 5.300, expires 03/13/25 (Counterparty: GS; pay floating rate); underlying swap terminates 03/17/26		3,000,000	USD	3,000,000		5,798
1 Year USD SOFR Interest Rate Swap strike @ 5.500, expires 05/14/24 (Counterparty: MSCI; pay floating rate); underlying swap terminates 05/16/25		5,800,000	USD	5,800,000		234
10 Year USD SOFR Interest Rate Swap strike @ 4.250, expires 11/29/24 (Counterparty: DB; pay floating rate); underlying swap terminates 12/03/34		4,200,000	USD	4,200,000		103,508
1 Year USD SOFR Interest Rate Swap strike @ 5.000, expires 05/28/24 (Counterparty: BOA; pay floating rate); underlying swap terminates 05/30/25		5,900,000	USD	5,900,000		14,833
1 Year USD SOFR Interest Rate Swap strike @ 4.750, expires 10/31/24 (Counterparty: DB; pay floating rate); underlying swap terminates 11/04/25		4,000,000	USD	4,000,000		16,281
1 Year USD SOFR Interest Rate Swap strike @ 5.250, expires 10/24/24 (Counterparty: MSCI; pay floating rate); underlying swap terminates 10/28/25		7,500,000	USD	7,500,000		11,900

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Number of contracts		Notional amount		Value
Swaptions Purchased—(continued)
Put swaptions—(continued)
6 Month USD SOFR Interest Rate Swap strike @ 5.500, expires 08/23/24 (Counterparty: JPMCB; pay floating rate); underlying swap terminates 02/27/25		29,600,000	USD	29,600,000	$	12,817
6 Month USD SOFR Interest Rate Swap strike @ 5.000, expires 08/23/24 (Counterparty: JPMCB; pay floating rate); underlying swap terminates 02/27/25		29,600,000	USD	29,600,000		49,169
1 Year USD SOFR Interest Rate Swap strike @ 5.000, expires 03/25/25 (Counterparty: MSCI; pay floating rate); underlying swap terminates 03/27/26		14,000,000	USD	14,000,000		41,615
1 Year USD SOFR Interest Rate Swap strike @ 5.000, expires 09/25/25 (Counterparty: CITI; pay floating rate); underlying swap terminates 09/29/26		14,300,000	USD	14,300,000		44,852
7 Year USD SOFR Interest Rate Swap strike @ 4.700, expires 05/16/24 (Counterparty: MSCI; pay floating rate); underlying swap terminates 05/20/31		15,600,000	USD	15,600,000		13,130
7 Year USD SOFR Interest Rate Swap strike @ 4.685, expires 05/16/24 (Counterparty: BNP; pay floating rate); underlying swap terminates 5/20/31		10,500,000	USD	10,500,000		9,714
10 Year USD SOFR Interest Rate Swap strike @ 6.000, expires 10/17/25 (Counterparty: GS; pay floating rate); underlying swap terminates 10/21/35		5,500,000	USD	5,500,000		36,732
1 Year USD SOFR Interest Rate Swap strike @ 5.500, expires 10/17/25 (Counterparty: MSCI; pay floating rate); underlying swap terminates 10/21/26		5,500,000	USD	5,500,000		10,721
10 Year USD SOFR Interest Rate Swap strike @ 6.000, expires 10/17/25 (Counterparty: MSCI; pay floating rate); underlying swap terminates 10/21/35		2,500,000	USD	2,500,000		16,696
1 Year USD SOFR Interest Rate Swap strike @ 5.500, expires 10/17/25 (Counterparty: BNP; pay floating rate); underlying swap terminates 10/21/26		2,500,000	USD	2,500,000		4,873
Total put swaptions						515,125

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Number of contracts		Notional amount		Value
Swaptions Purchased—(continued)
Call swaptions: 0.0%†
7 Year USD SOFR Interest Rate Swap strike @ 2.500, expires 03/10/25 (Counterparty: GS; pay floating rate); underlying swap terminates 03/12/32		2,200,000	USD	2,200,000	$	4,268
7 Year USD SOFR Interest Rate Swap strike @ 3.700, expires 05/16/24 (Counterparty: MSCI; pay floating rate); underlying swap terminates 05/20/31		15,600,000	USD	15,600,000		1,237
Total call swaptions						5,505
Total swaptions purchased (cost—$437,063)						520,630
Total Swaptions Purchased (cost—$437,063)						520,630
Total investments before investments sold short (cost—$433,273,809)—221.0%						404,241,865

	Number of shares
Investments sold short: (71.4)%
U.S. government agency obligations: (71.4)%
Government National Mortgage Association, TBA
2.500%	$	(800,000	)		(656,319	)
3.000%		(8,500,000	)		(7,228,519	)
3.500%		(1,400,000	)		(1,233,361	)
Uniform Mortgage-Backed Security, TBA
3.000%		(2,400,000	)		(1,981,915	)
3.000%		(42,150,000	)		(34,831,538	)
3.500%		(24,350,000	)		(20,980,374	)
3.500%		(22,350,000	)		(19,264,247	)
4.000%		(5,925,000	)		(5,298,248	)
4.000%		(3,500,000	)		(3,324,314	)
4.500%		(20,900,000	)		(19,266,268	)
5.000%		(3,000,000	)		(2,844,069	)
5.000%		(2,700,000	)		(2,559,527	)
6.000%		(5,200,000	)		(5,150,345	)
6.000%		(5,000,000	)		(4,953,810	)
7.000%		(1,100,000	)		(1,122,319	)
Total U.S. government agency obligations (cost—$(132,464,656))					(130,695,173	)
Total investments sold short (Proceeds—$(132,464,656))					(130,695,173	)
Total investments (cost—$300,968,751)—149.6%					273,546,692
Liabilities in excess of other assets—(49.6)%					(90,634,201	)
Net assets—100.0%				$	182,912,491

	Face amount
Reverse Repurchase Agreement: 21.7%
Reverse repurchase agreement dated 4/11/24 with Wells Fargo, 5.43%, to be repurchased 5/13/24 for $(38,110,892), collateralized by $39,250,286 Federal National Mortgage Association obligation, 2.500% - 4.500% due 9/1/42 - 8/1/53 and by $5,389,155 Government National Mortgage Association obligation, 2.500% due 9/20/51; (value --$(44,639,440)); (proceeds --$(37,927,827))	$	(37,927,827	)	$	(37,927,827	)

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount			Value
Reverse Repurchase Agreement—(continued)
Reverse repurchase agreement dated 4/30/24 with Deutsche Bank, 5.45%, to be repurchased 5/13/24 for $(1,698,491), collateralized by $1,718,894 Federal National Mortgage Association obligation, 6.500% due 2/1/54; (value --$(1,718,894)); (proceeds --$(1,695,155))	$	(1,695,155	)	$	(1,695,155	)
Total Reverse Repurchase Agreement (cost—$(39,622,982))					39,622,982

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.

Options written

Notional amount		Number of contracts		Call options	Counterparty	Expiration date	Premiums received		Current Value			Unrealized appreciation (depreciation)
USD	283,214,000		2,900,000	UMBS TBA, strike @ 97.656	JPMCB	05/06/24	$	9,969	$	(10	)	$	9,959
USD	388,640,000		4,000,000	UMBS TBA, strike @ 97.156	CITI	05/06/24		5,000		(73	)		4,927
USD	595,200,000		6,000,000	UMBS TBA, strike @ 99.195	JPMCB	06/06/24		18,516		(287	)		18,229
USD	388,880,000		4,000,000	UMBS TBA, strike @ 97.219	JPMCB	06/06/24		16,875		(3,826	)		13,049
Total							$	50,360	$	(4,196	)	$	46,164

Notional amount		Number of contracts		Put options	Counterparty	Expiration date	Premiums received		Current Value			Unrealized appreciation (depreciation)
USD	771,840,000		8,000,000	UMBS TBA, strike @ 96.484	MSCI	05/06/24	$	45,937	$	(133,749	)	$	(87,812	)
USD	1,100,090,000		11,500,000	UMBS TBA, strike @ 95.656	JPMCB	05/06/24		54,805		(105,676	)		(50,871	)
USD	574,020,000		6,000,000	UMBS TBA, strike @ 95.672	MSCI	05/06/24		28,125		(55,909	)		(27,784	)

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

Notional amount		Number of contracts		Put options	Counterparty	Expiration date	Premiums received		Current Value			Unrealized appreciation (depreciation)
USD	525,965,000		5,500,000	UMBS TBA, strike @ 95.625	JPMCB	05/06/24	$	10,312	$	(49,135	)	$	(38,823	)
USD	472,500,000		5,000,000	UMBS TBA, strike @ 94.500	MSCI	05/06/24		7,421		(11,560	)		(4,139	)
USD	848,520,000		9,000,000	UMBS TBA, strike @ 94.281	CITI	05/06/24		15,469		(14,885	)		584
USD	377,320,000		4,000,000	UMBS TBA, strike @ 94.328	CITI	05/06/24		6,250		(7,120	)		(870	)
USD	577,200,000		6,000,000	UMBS TBA, strike @ 96.195	JPMCB	06/06/24		29,063		(99,073	)		(70,010	)
USD	376,880,000		4,000,000	UMBS TBA, strike @ 94.219	JPMCB	06/06/24		20,625		(24,738	)		(4,113	)
USD	376,640,000		4,000,000	UMBS TBA, strike @ 94.156	CITI	06/06/24		21,875		(23,922	)		(2,047	)
Total							$	239,882	$	(525,767	)	$	(285,885	)
Total equity options written							$	290,242	$	(529,963	)	$	(239,721	)

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	13,668		3,400,000	7 Year USD SOFR Interest Rate Swap	BOA	Pay	05/06/24	$	21,165	$	(70,754	)	$	(49,589	)
USD	4,477		1,100,000	7 Year USD SOFR Interest Rate Swap	BNP	Pay	05/06/24		6,160		(19,463	)		(13,303	)
USD	6,510		1,500,000	7 Year USD SOFR Interest Rate Swap	GS	Pay	05/06/24		5,572		(6,169	)		(597	)
USD	310,800		59,200,000	6 Month USD SOFR Interest Rate Swap	JPMCB	Pay	08/23/24		22,200		(54,499	)		(32,299	)
USD	3,184		800,000	7 Year USD SOFR Interest Rate Swap	BOA	Pay	05/06/24		4,040		(18,494	)		(14,454	)
USD	19,992		5,100,000	7 Year USD SOFR Interest Rate Swap	BOA	Pay	06/06/24		38,761		(138,446	)		(99,685	)
USD	10,752		2,400,000	7 Year USD SOFR Interest Rate Swap	MSCI	Pay	06/06/24		3,420		(12,722	)		(9,302	)
Total								$	101,318	$	(320,547	)	$	(219,229	)

Futures contracts

Number of contracts	Currency		Expiration date	Current notional amount		Value		Unrealized appreciation (depreciation)
U.S. Treasury futures buy contracts:
136	USD	U.S. Treasury Note 10 Year Futures	June 2024	$	15,015,443	$	14,611,500	$	(403,943	)
1	USD	U.S. Treasury Note 5 Year Futures	June 2024		106,853		104,742		(2,111	)
Total				$	15,122,296	$	14,716,242	$	(406,054	)

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

Number of contracts	Currency		Expiration date	Current notional amount			Value			Unrealized appreciation (depreciation)
U.S. Treasury futures sell contracts:
15	USD	U.S. Treasury Note 2 Year Futures	June 2024		(3,069,707	)		(3,039,844	)	$	29,863
Total				$	(3,069,707	)	$	(3,039,844	)	$	29,863
Net unrealized appreciation (depreciation)										$	(376,191	)

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – April 30, 2024 (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	16,000	02/02/25	Annual	12 Month SOFR		4.600%	$	123,384		$	123,384
USD	29,500	02/05/25	Annual	12 Month SOFR		4.1		323,913			323,913
USD	29,500	02/05/25	Annual	4.600%		12Month SOFR		(196,542	)		(196,542	)
USD	27,500	02/06/25	Annual	12 Month SOFR		4.6		204,853			204,853
USD	3,400	04/17/25	Annual	3.750		12Month SOFR		(50,888	)		(50,888	)
USD	3,400	04/18/25	Annual	3.750		12Month SOFR		(50,841	)		(50,841	)
USD	6,600	04/24/25	Annual	4.000		12Month SOFR		(81,360	)		(81,360	)
USD	3,600	04/25/25	Annual	4.000		12Month SOFR		(44,788	)		(44,788	)
USD	18,600	06/21/25	Annual	12 Month SOFR		3.750		466,898			368,724
USD	1,700	06/21/26	Annual	12 Month SOFR		3.5		52,200			52,394
USD	3,000	12/21/27	Annual	12 Month SOFR		2.000		270,509			117,168
USD	4,400	03/20/29	Annual	12 Month SOFR		4.250		53,157			185,625
USD	4,200	04/10/29	Annual	3.940		12Month SOFR		(105,114	)		(105,114	)
USD	17,500	06/15/29	Annual	1.750		12Month SOFR		(2,363,115	)		(1,398,469	)
USD	2,300	11/09/29	Annual	12 Month SOFR		3.205		162,805			162,805
USD	2,300	11/09/29	Annual	12 Month SOFR		3.218		161,277			161,277
USD	2,400	11/09/29	Annual	12 Month SOFR		3.217		168,352			168,352
USD	1,300	12/21/29	Annual	12 Month SOFR		2.000		172,487			80,537
USD	1,400	03/08/30	Annual	12 Month SOFR		3.513		69,542			69,542
USD	1,400	03/08/30	Annual	12 Month SOFR		3.513		69,579			69,579
USD	500	03/08/30	Annual	12 Month SOFR		3.635		21,641			21,641
USD	2,900	04/10/30	Annual	3.560		12Month SOFR		(133,071	)		(133,071	)
USD	2,900	05/08/30	Annual	3.560		12Month SOFR		(179,896	)		(179,896	)
USD	400	05/08/30	Annual	3.550		12Month SOFR		(25,155	)		(25,155	)
USD	6,400	06/21/30	Annual	12 Month SOFR		3.000		514,192			439,262
USD	350	07/10/30	Annual	3.740		12Month SOFR		(17,192	)		(17,192	)

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

Notional amount (000)		Maturity date	Payment frequency	Payments made by the portfolio8	Payments received by the portfolio8		Value			Unrealized appreciation (depreciation)
USD	2,200	10/06/30	Annual	4.123%		12Month SOFR	$	(50,136	)	$	(50,136	)
USD	4,900	10/10/30	Annual	12 Month SOFR		4.185%		92,306			92,306
USD	1,300	10/10/30	Annual	4.145		12Month SOFR		(27,662	)		(27,662	)
USD	3,000	10/10/30	Annual	4.135		12Month SOFR		(65,667	)		(65,667	)
USD	3,200	10/10/30	Annual	4.118		12Month SOFR		(73,462	)		(73,462	)
USD	3,900	10/10/30	Annual	4.155		12Month SOFR		(80,607	)		(80,607	)
USD	500	10/10/30	Annual	4.320		12Month SOFR		(5,300	)		(5,300	)
USD	3,700	11/08/30	Annual	4.012		12Month SOFR		(105,029	)		(105,029	)
USD	4,000	11/08/30	Annual	4.180		12Month SOFR		(72,681	)		(72,681	)
USD	1,000	11/08/30	Annual	4.192		12Month SOFR		(17,441	)		(17,441	)
USD	7,000	12/20/30	Annual	12 Month SOFR		3.500		369,376			362,312
USD	2,200	12/22/30	Annual	12 Month SOFR		3.550		113,438			113,438
USD	4,300	01/10/31	Annual	3.705		12Month SOFR		(191,975	)		(191,975	)
USD	1,100	03/12/31	Annual	12 Month SOFR		3.71		46,130			46,130
USD	1,200	04/08/31	Annual	3.990		12Month SOFR		(28,982	)		(28,982	)
USD	1,800	04/08/31	Annual	3.959		12Month SOFR		(46,806	)		(46,806	)
USD	2,200	04/09/31	Annual	12 Month SOFR		3.013		181,448			181,448
USD	2,300	04/15/31	Annual	12 Month SOFR		3.17		167,472			167,472
USD	1,600	04/26/31	Annual	12 Month SOFR		3.232		109,889			109,889
USD	2,900	06/20/31	Annual	12 Month SOFR		3.75		103,429			81,603
USD	1,400	06/08/32	Annual	12 Month SOFR		2.451		215,293			215,293
USD	7,100	06/15/32	Annual	12 Month SOFR		1.750		1,325,190			525,034
USD	500	06/15/32	Annual	12 Month SOFR		1.750		103,574			73,475
USD	4,000	06/15/32	Annual	12 Month SOFR		2.550		582,969			582,969
USD	2,300	09/16/32	Annual	12 Month SOFR		2.998		248,439			248,439
USD	5,500	10/06/32	Annual	12 Month SOFR		3.275		474,921			474,921

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

Notional amount (000)		Maturity date	Payment frequency	Payments made by the portfolio8	Payments received by the portfolio8	Value			Unrealized appreciation (depreciation)
USD	2,800	11/28/32	Annual	12 Month SOFR	3.368%	$	216,361		$	216,361
USD	600	12/21/32	Annual	12 Month SOFR	2.000		107,100			43,471
USD	1,400	03/08/33	Annual	12 Month SOFR	3.453		93,505			93,505
USD	3,100	03/08/33	Annual	12 Month SOFR	3.505		194,981			194,981
USD	1,000	03/08/33	Annual	3.510%	12Month SOFR		(62,526	)		(62,526	)
USD	700	06/08/33	Annual	12 Month SOFR	3.260		68,451			68,451
USD	5,600	12/20/33	Annual	3.500	12Month SOFR		(395,629	)		(228,183	)
USD	8,500	06/20/34	Annual	12 Month SOFR	3.75		368,270			104,306
USD	3,200	12/20/53	Annual	12 Month SOFR	3.500		447,752			254,870
USD	600	06/20/54	Annual	12 Month SOFR	3.5		51,728			17,014
USD	27,000	03/03/25	Quarterly	3 Month SOFR	1.350		1,113,293			1,113,293
USD	8,900	05/04/25	Quarterly	3 Month SOFR	1.500		403,268			403,268
Total						$	5,561,507		$	4,993,532

Fair valuation summary

The following is a summary of the fair valuations according to the inputs used as of April 30, 2024 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	$	—	$	19,700,694	$	108,921	$	19,809,615
Mortgage-backed securities		—		30,859,798		—		30,859,798
U.S. government agency obligations		—		340,667,087		—		340,667,087
U.S. Treasury obligations		—		9,768,021		—		9,768,021
Short-term investments		—		1,056,409		—		1,056,409
Short-term U.S. Treasury obligations		—		1,365,188		—		1,365,188
Options purchased		—		195,117		—		195,117
Reverse Repurchase Agreement		—		39,622,982		—		39,622,982
Swaptions Purchased		—		520,630		—		520,630
Futures contracts		29,863		—		—		29,863

PACE Mortgage-Backed Securities Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

Description	Unadjusted quoted prices in active market for identical investments (Level 1)			Other significant observable inputs (Level 2)			Unobservable inputs (Level 3)		Total
Swap agreements		—			10,033,372			—		10,033,372
Total	$	29,863		$	453,789,298		$	108,921	$	453,928,082
Liabilities
Investments sold short
U.S. government agency obligations	$	—		$	(130,695,173	)	$	—		(130,695,173	)
Options written		—			(529,963	)		—		(529,963	)
Swaptions written		—			(320,547	)		—		(320,547	)
Futures contracts		(406,054	)		—			—		(406,054	)
Swap agreements		—			(4,471,865	)		—		(4,471,865	)
Total	$	(406,054	)	$	(136,017,548	)	$	—	$	(136,423,602	)

At April 30, 2024, 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 Floating or variable rate securities. The rates disclosed are as of April 30, 2024. 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 $20,251,276, represented 11.1% of the Portfolios 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 Security, or portion thereof, pledged as collateral for investments sold short, written options, futures and/or swap agreements.

7 Rates shown reflect yield at April 30, 2024.

8 Payments made or received are based on the notional amount.

PACE Intermediate Fixed Income Investments
Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
Asset-backed securities—23.8%
Adams Outdoor Advertising LP,
Series 2023-1, Class A2,
6.967%, due 07/15/531	$	760,000	$	775,786
Aligned Data Centers Issuer LLC,
Series 2022-1A, Class A2,
6.350%, due 10/15/471		2,300,000		2,301,353
American Homes 4 Rent Trust,
Series 2014-SFR3, Class A,
3.678%, due 12/17/361		415,596		410,082
Antares CLO Ltd.,
Series 2019-1A, Class BR,
3 mo. USD Term SOFR +3.350%,
8.675%, due 01/20/361,2		1,730,000		1,749,585
Avis Budget Rental Car Funding AESOP LLC,
Series 2023-4A, Class A,
5.490%, due 06/20/291		1,620,000		1,603,753
BHG Securitization Trust,
Series 2022-C, Class B,
5.930%, due 10/17/351		1,750,000		1,727,665
CARS-DB7 LP,
Series 2023-1A, Class A2,
6.500%, due 09/15/531		893,438		878,026
CLI Funding VIII LLC,
Series 2023-1A, Class A,
6.310%, due 06/18/481		928,678		920,233
Cogent Ipv4 LLC,
Series 2024-1A, Class A2,
7.924%, due 05/25/541		1,830,000		1,830,732
College Avenue Student Loans LLC,
Series 2021-A, Class A1,
1 mo. USD Term SOFR +1.214%,
6.531%, due 07/25/511,2		47,845		47,544
Series 2021-B, Class A2,
1.760%, due 06/25/521		61,864		53,325
Series 2021-C, Class A1,
1 mo. USD Term SOFR +1.014%,
6.331%, due 07/26/551,2		184,476		180,155
Series 2021-C, Class B,
2.720%, due 07/26/551		89,914		78,028
Series 2021-C, Class A2,
2.320%, due 07/26/551		92,926		79,371
Credit Acceptance Auto Loan Trust,
Series 2021-3A, Class A,
1.000%, due 05/15/301		41,828		41,629
Series 2021-4, Class A,
1.260%, due 10/15/301		199,404		196,982
Series 2022-1A, Class A,
4.600%, due 06/15/321		495,000		490,633
Series 2022-3A, Class C,
8.450%, due 02/15/331		2,300,000		2,375,724

PACE Intermediate Fixed Income Investments
Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
Asset-backed securities—(continued)
DataBank Issuer LLC,
Series 2023-1A, Class A2,
5.116%, due 02/25/531	$	995,000	$	931,830
EDvestinU Private Education Loan Issue No. 3 LLC,
Series 2021-A, Class A,
1.800%, due 11/25/451		55,418		48,822
FREED ABS Trust,
Series 2022-4FP, Class B,
7.580%, due 12/18/291		347,519		347,884
Golub Capital Partners ABS Funding Ltd.,
Series 2022-1A, Class A2B,
6.580%, due 07/22/301		1,910,000		1,786,220
GoodLeap Sustainable Home Solutions Trust,
Series 2021-4GS, Class A,
1.930%, due 07/20/481		168,962		127,852
Series 2021-5CS, Class A,
2.310%, due 10/20/481		94,299		73,069
Lendmark Funding Trust,
Series 2021-1A, Class A,
1.900%, due 11/20/311		210,000		189,829
Mariner Finance Issuance Trust,
Series 2021-AA, Class A,
1.860%, due 03/20/361		180,000		164,997
Series 2022-AA, Class B,
7.200%, due 10/20/371		1,830,000		1,832,098
MCF CLO 10 Ltd.,
Series 2023-1A, Class C,
3 mo. USD Term SOFR +4.200%,
9.529%, due 04/15/351,2		630,000		635,194
Monroe Capital ABS Funding II Ltd.,
Series 2023-1A, Class A1,
6.650%, due 04/22/331		1,700,000		1,690,552
Mosaic Solar Loan Trust,
Series 2022-1A, Class A,
2.640%, due 01/20/531		155,004		129,487
Mosaic Solar Loans LLC,
Series 2017-2A, Class C,
2.000%, due 06/22/431		3,551		3,528
Navient Private Education Refi Loan Trust,
Series 2019-D, Class A2B,
1 mo. USD Term SOFR +1.164%,
6.486%, due 12/15/591,2		113,618		113,733
Series 2020-IA, Class B,
2.950%, due 04/15/691		100,000		80,548
Series 2021-A, Class A,
0.840%, due 05/15/691		48,827		42,312
Series 2021-DA, Class A,
U.S. (Fed) Prime Rate -1.990%,
6.510%, due 04/15/601,2		222,918		214,320

PACE Intermediate Fixed Income Investments
Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
Asset-backed securities—(continued)
Navient Student Loan Trust,
Series 2018-EA, Class A2,
4.000%, due 12/15/591	$	15,108	$	14,815
Nelnet Student Loan Trust,
Series 2021-A, Class APT2,
1.360%, due 04/20/621		348,631		313,051
Series 2021-BA, Class AFL,
1 mo. USD Term SOFR +0.894%,
6.210%, due 04/20/621,2		495,788		491,922
Series 2021-CA, Class AFL,
1 mo. USD Term SOFR +0.854%,
6.170%, due 04/20/621,2		312,122		309,583
New Economy Assets Phase 1 Sponsor LLC,
Series 2021-1, Class A1,
1.910%, due 10/20/611		1,150,000		1,002,007
NextGear Floorplan Master Owner Trust,
Series 2023-1A, Class A2,
5.740%, due 03/15/281		1,740,000		1,742,670
NFAS2 LLC,
Series 2022-1, Class B,
7.590%, due 09/15/281		1,090,000		1,069,668
NMEF Funding LLC,
Series 2022-B, Class A2,
6.070%, due 06/15/291		1,355,413		1,357,027
OneMain Financial Issuance Trust,
Series 2022-3A, Class A,
5.940%, due 05/15/341		1,610,000		1,611,609
Oportun Issuance Trust,
Series 2022-3, Class B,
8.533%, due 01/08/301		2,290,000		2,300,108
Oxford Finance Funding Trust,
Series 2023-1A, Class B,
7.879%, due 02/15/311		1,970,000		1,911,085
Prodigy Finance DAC,
Series 2021-1A, Class A,
1 mo. USD Term SOFR +1.364%,
6.681%, due 07/25/511,2		103,499		102,731
Regional Management Issuance Trust,
Series 2021-2, Class A,
1.900%, due 08/15/331		245,000		218,916
Series 2022-2B, Class B,
8.510%, due 11/17/321		2,360,000		2,425,403
Retained Vantage Data Centers Issuer LLC,
Series 2023-1A, Class A2A,
5.000%, due 09/15/481		1,370,000		1,299,830
Santander Drive Auto Receivables Trust,
Series 2022-7, Class C,
6.690%, due 03/17/31		2,200,000		2,230,356

PACE Intermediate Fixed Income Investments
Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
Asset-backed securities—(continued)
Sesac Finance LLC,
Series 2019-1, Class A2,
5.216%, due 07/25/491	$	114,300	$	110,519
SLM Private Education Loan Trust,
Series 2010-C, Class A5,
1 mo. USD Term SOFR +4.864%,
10.186%, due 10/15/411,2		318,299		341,623
SMB Private Education Loan Trust,
Series 2017-B, Class A2B,
1 mo. USD Term SOFR +0.864%,
6.186%, due 10/15/351,2		41,836		41,758
Series 2018-A, Class A2B,
1 mo. USD Term SOFR +0.914%,
6.236%, due 02/15/361,2		166,639		166,084
Series 2018-C, Class A2B,
1 mo. USD Term SOFR +0.864%,
6.186%, due 11/15/351,2		226,101		224,623
Series 2021-A, Class A2A1,
1 mo. USD Term SOFR +0.844%,
6.166%, due 01/15/531,2		408,763		404,885
Series 2021-A, Class B,
2.310%, due 01/15/531		92,443		86,040
Series 2021-C, Class APT1,
1.390%, due 01/15/531		129,892		113,335
SoFi Professional Loan Program LLC,
Series 2018-A, Class A2B,
2.950%, due 02/25/421		30,329		29,654
Series 2020-C, Class AFX,
1.950%, due 02/15/461		74,162		67,063
Stack Infrastructure Issuer LLC,
Series 2023-1A, Class A2,
5.900%, due 03/25/481		740,000		727,750
Store Master Funding I-VII XIV XIX XX,
Series 2021-1A, Class A1,
2.120%, due 06/20/511		1,005,550		857,489
TierPoint Issuer LLC,
Series 2023-1A, Class A2,
6.000%, due 06/25/531		790,000		756,919
Vantage Data Centers Issuer LLC,
Series 2023-1A, Class A2,
6.316%, due 03/16/481		1,070,000		1,061,022
Willis Engine Structured Trust VII,
Series 2023-A, Class A,
8.000%, due 10/15/481		587,451		615,901
Total asset-backed securities (cost—$48,263,746)				48,158,327
Corporate bonds—46.6%
Aerospace & defense: 0.4%
BAE Systems PLC
5.125%, due 03/26/291		850,000		834,402

PACE Intermediate Fixed Income Investments
Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
Corporate bonds—(continued)
Agriculture: 0.4%
Cargill, Inc.
5.125%, due 10/11/321	$	810,000	$	791,272
Airlines: 0.6%
Air Canada Pass-Through Trust
Series 2017-1, Class AA,
3.300%, due 01/15/301		40,230		35,987
American Airlines Pass-Through Trust
Series 2016-3, Class AA,
3.000%, due 10/15/28		83,538		75,508
Series 2016-1, Class AA,
3.575%, due 01/15/28		45,021		42,107
Series 2017-1, Class AA,
3.650%, due 02/15/29		27,162		25,203
Delta Air Lines Pass-Through Trust
Series 2020-1, Class AA,
2.000%, due 06/10/28		51,397		45,967
Hawaiian Brand Intellectual Property Ltd./HawaiianMiles Loyalty Ltd.
5.750%, due 01/20/261		1,005,000		942,579
United Airlines Pass-Through Trust
Series 2019-2, Class AA,
2.700%, due 05/01/32		41,674		35,519
Series 2015-1, Class AA,
3.450%, due 12/01/27		29,956		27,974
Series 2018-1, Class AA,
3.500%, due 03/01/30		14,695		13,308
Series 2019-1, Class AA,
4.150%, due 08/25/31		52,787		48,876
				1,293,028
Banks: 14.6%
ASB Bank Ltd.
(fixed, converts to FRN on 06/17/27),
5.284%, due 06/17/321,2		1,500,000		1,463,850
5.398%, due 11/29/271		1,260,000		1,251,440
Bank of America Corp.
(fixed, converts to FRN on 01/20/27),
3.824%, due 01/20/282		840,000		801,770
Bank of New York Mellon Corp.
(fixed, converts to FRN on 02/07/27),
3.442%, due 02/07/282		1,400,000		1,329,667
Bank of New Zealand
4.846%, due 02/07/281		1,075,000		1,049,778
Citigroup, Inc.
(fixed, converts to FRN on 06/03/30),
2.572%, due 06/03/312		1,198,000		1,002,193
(fixed, converts to FRN on 03/31/30),
4.412%, due 03/31/312		1,310,000		1,222,817

PACE Intermediate Fixed Income Investments
Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
Corporate bonds—(continued)
Banks—(continued)
Comerica Bank
4.000%, due 07/27/25	$	800,000	$	774,467
(fixed, converts to FRN on 08/25/32),
5.332%, due 08/25/332		1,280,000		1,120,352
Fifth Third Bancorp
(fixed, converts to FRN on 07/28/29),
4.772%, due 07/28/302		25,000		23,580
(fixed, converts to FRN on 10/27/27),
6.361%, due 10/27/282		1,885,000		1,900,224
HSBC Holdings PLC
(fixed, converts to FRN on 06/04/30),
2.848%, due 06/04/312		1,800,000		1,517,906
(fixed, converts to FRN on 11/03/27),
7.390%, due 11/03/282		905,000		948,744
Huntington Bancshares, Inc.
(fixed, converts to FRN on 08/04/27),
4.443%, due 08/04/282		647,000		619,824
Huntington National Bank
5.650%, due 01/10/30		1,240,000		1,217,891
ING Groep NV
(fixed, converts to FRN on 03/28/25),
3.869%, due 03/28/262		1,400,000		1,374,304
JPMorgan Chase & Co.
(fixed, converts to FRN on 02/01/27),
3.782%, due 02/01/282		793,000		756,572
KeyBank NA
5.850%, due 11/15/27		1,080,000		1,060,449
Lloyds Banking Group PLC
(fixed, converts to FRN on 03/18/27),
3.750%, due 03/18/282		1,420,000		1,345,093
(fixed, converts to FRN on 11/15/32),
7.953%, due 11/15/332		610,000		669,541
Morgan Stanley
(fixed, converts to FRN on 10/18/32),
6.342%, due 10/18/332		885,000		917,882
NatWest Group PLC
(fixed, converts to FRN on 11/10/25),
7.472%, due 11/10/262		1,030,000		1,053,682
Santander Holdings USA, Inc.
(fixed, converts to FRN on 09/09/25),
5.807%, due 09/09/262		855,000		849,446
(fixed, converts to FRN on 03/09/28),
6.499%, due 03/09/292		755,000		760,857
Skandinaviska Enskilda Banken AB
5.375%, due 03/05/291		680,000		668,393
State Street Corp.
(fixed, converts to FRN on 11/04/27),
5.820%, due 11/04/282		555,000		562,588
Truist Financial Corp.
(fixed, converts to FRN on 06/06/27),
4.123%, due 06/06/282		1,370,000		1,308,442
(fixed, converts to FRN on 10/28/32),
6.123%, due 10/28/332		580,000		579,209

PACE Intermediate Fixed Income Investments
Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
Corporate bonds—(continued)
Banks—(continued)
Wells Fargo & Co.
(fixed, converts to FRN on 03/02/32),
3.350%, due 03/02/332	$	1,525,000	$	1,287,345
				29,438,306
Commercial services: 0.7%
Ashtead Capital, Inc.
5.500%, due 08/11/321		1,500,000		1,438,226
Diversified financial services: 2.8%
Ally Financial, Inc.
(fixed, converts to FRN on 01/03/29),
6.848%, due 01/03/302		1,005,000		1,015,451
Bread Financial Holdings, Inc.
9.750%, due 03/15/291		1,410,000		1,466,318
Brightsphere Investment Group, Inc.
4.800%, due 07/27/26		585,000		563,115
Capital One Financial Corp.
(fixed, converts to FRN on 05/10/27),
4.927%, due 05/10/282		1,400,000		1,366,402
(fixed, converts to FRN on 05/10/32),
5.268%, due 05/10/332		164,000		155,317
Oxford Finance LLC/Oxford Finance Co.-Issuer II, Inc.
6.375%, due 02/01/271		1,250,000		1,172,913
				5,739,516
Electric: 3.8%
Alexander Funding Trust II
7.467%, due 07/31/281		1,145,000		1,194,643
Atlantica Sustainable Infrastructure PLC
4.125%, due 06/15/281		1,110,000		1,005,167

PACE Intermediate Fixed Income Investments
Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
Corporate bonds—(continued)
Electric—(continued)
Duke Energy Florida LLC
5.950%, due 11/15/52	$	880,000	$	885,802
Duke Energy Ohio, Inc.
5.650%, due 04/01/53		590,000		565,303
Edison International
Series A,
(fixed, converts to FRN on 03/15/26),
5.375%, due 03/15/262,4		1,360,000		1,302,873
MidAmerican Energy Co.
3.650%, due 04/15/29		204,000		189,402
Nevada Power Co.
Series GG,
5.900%, due 05/01/53		935,000		916,685
Southern California Edison Co.
5.950%, due 11/01/32		585,000		595,130
Vistra Operations Co. LLC
6.950%, due 10/15/331		880,000		916,970
				7,571,975
Energy-Alternate Sources: 0.5%
NextEra Energy Partners LP
2.500%, due 06/15/261,3		1,180,000		1,061,089
Healthcare-services: 0.5%
CommonSpirit Health
6.073%, due 11/01/27		965,000		984,176
Insurance: 11.0%
Athene Global Funding
2.550%, due 06/29/251		1,600,000		1,535,923
Athene Holding Ltd.
6.650%, due 02/01/33		1,175,000		1,214,106

PACE Intermediate Fixed Income Investments
Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
Corporate bonds—(continued)
Insurance—(continued)
Corebridge Financial, Inc.
(fixed, converts to FRN on 12/15/27),
6.875%, due 12/15/522	$	1,280,000	$	1,267,138
Enstar Finance LLC
(fixed, converts to FRN on 01/15/27),
5.500%, due 01/15/422		1,500,000		1,414,898
Enstar Group Ltd.
4.950%, due 06/01/29		1,400,000		1,328,075
F&G Annuities & Life, Inc.
7.400%, due 01/13/28		2,110,000		2,168,471
First American Financial Corp.
2.400%, due 08/15/31		1,240,000		958,418
Global Atlantic Fin Co.
7.950%, due 06/15/331		1,065,000		1,152,503
Intact Financial Corp.
5.459%, due 09/22/321		915,000		892,254
Metropolitan Life Global Funding I
4.300%, due 08/25/291		1,690,000		1,590,570
Reinsurance Group of America, Inc.
6.000%, due 09/15/33		1,125,000		1,129,701
RenaissanceRe Holdings Ltd.
3.600%, due 04/15/29		1,440,000		1,304,507
5.750%, due 06/05/33		1,645,000		1,603,488
SiriusPoint Ltd.
7.000%, due 04/05/29		795,000		793,052
Stewart Information Services Corp.
3.600%, due 11/15/31		1,700,000		1,384,196

PACE Intermediate Fixed Income Investments
Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
Corporate bonds—(continued)
Insurance—(continued)
Swiss Re Finance Luxembourg SA
(fixed, converts to FRN on 04/02/29),
5.000%, due 04/02/491,2	$	2,600,000	$	2,489,500
				22,226,800
Investment companies: 2.2%
Blackstone Private Credit Fund
3.250%, due 03/15/27		209,000		191,802
7.300%, due 11/27/281		1,525,000		1,566,182
Blue Owl Credit Income Corp.
7.750%, due 09/16/27		710,000		725,076
FS KKR Capital Corp.
7.875%, due 01/15/29		1,830,000		1,883,435
				4,366,495
Machinery-diversified: 0.3%
CNH Industrial Capital LLC
5.500%, due 01/12/29		645,000		642,789
Media: 0.5%
CCO Holdings LLC/CCO Holdings Capital Corp.
7.375%, due 03/01/311		1,005,000		953,680
Oil & gas: 0.5%
Sunoco LP
7.000%, due 05/01/291		915,000		929,262
Pipelines: 1.2%
Energy Transfer LP
Series A,
3 mo. USD Term SOFR +4.290%,
9.597%, due 05/16/242,4		2,420,000		2,420,225
Real estate investment trusts: 4.9%
Arbor Realty SR, Inc.
Series QIB,
8.500%, due 10/15/271		1,790,000		1,718,748

PACE Intermediate Fixed Income Investments
Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
Corporate bonds—(continued)
Real estate investment trusts—(continued)
Blackstone Mortgage Trust, Inc.
3.750%, due 01/15/271	$	2,635,000	$	2,360,638
Federal Realty OP LP
5.375%, due 05/01/28		905,000		894,703
HAT Holdings I LLC/HAT Holdings II LLC
3.375%, due 06/15/261		1,515,000		1,408,069
SBA Tower Trust
6.599%, due 01/15/281		2,300,000		2,334,562
Scentre Group Trust 1/Scentre Group Trust 2
4.375%, due 05/28/301		1,363,000		1,275,953
				9,992,673
Retail: 0.4%
Macy's Retail Holdings LLC
5.875%, due 03/15/301,3		835,000		795,915
Semiconductors: 0.7%
ams-OSRAM AG
12.250%, due 03/30/291		1,400,000		1,400,882
Telecommunications: 0.6%
Connect Finco SARL/Connect U.S. Finco LLC
6.750%, due 10/01/261		1,255,000		1,215,452
Total corporate bonds (cost—$94,119,183)				94,096,163
Loan assignments—11.6%
Aerospace & defense: 0.4%
Propulsion BC Finco SARL
3 mo. USD Term SOFR +3.750%,
9.058%, due 09/14/292,5		872,790		876,247

PACE Intermediate Fixed Income Investments
Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
Loan assignments—(continued)
Airlines: 1.2%
American Airlines, Inc.
6 mo. USD Term SOFR +3.500%,
8.775%, due 06/04/292	$	1,315,000	$	1,318,840
United Airlines, Inc.
3 mo. USD Term SOFR +2.750%,
8.076%, due 02/22/312		1,175,000		1,178,301
				2,497,141
Chemicals: 0.5%
INEOS Enterprises Holdings U.S. Finco LLC
3 mo. USD Term SOFR +3.750%,
9.193%, due 07/08/302		1,032,413		1,032,732
Commercial services: 1.5%
MPH Acquisition Holdings LLC
2021 Term Loan B,
3 mo. USD Term SOFR +4.250%,
9.855%, due 09/01/282		1,280,303		1,182,194
System One Holdings LLC
3 mo. USD Term SOFR +4.000%,
9.459%, due 03/02/282		1,065,292		1,067,955
Verscend Holding Corp.
2021 Term Loan B,
U.S. (Fed) Prime Rate +3.000%,
11.500%, due 08/27/252		837,089		837,298
				3,087,447

PACE Intermediate Fixed Income Investments
Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
Loan assignments—(continued)
Diversified financial services: 0.6%
LendingTree, Inc.
1 mo. USD Term SOFR +3.750%,
9.180%, due 09/15/282	$	1,229,359	$	1,191,249
Environmental control: 0.5%
MIP V Waste Holdings LLC
3 mo. USD Term SOFR +3.250%,
8.841%, due 12/08/282		1,120,669		1,122,541
Health care products: 1.5%
Medline Borrower LP
1 mo. USD Term SOFR +2.750%,
8.068%, due 10/23/282		1,112,465		1,114,924
Sotera Health Holdings LLC
1 mo. USD Term SOFR +3.750%,
9.067%, due 12/11/262		1,885,750		1,889,295
				3,004,219
Healthcare-services: 0.5%
IQVIA, Inc.
3 mo. USD Term SOFR +2.000%,
7.309%, due 01/02/312		997,500		1,001,410
Pharmaceuticals: 0.6%
Jazz Financing Lux SARL
1 mo. USD Term SOFR +3.000%,
8.430%, due 05/05/282		1,169,960		1,176,547
Pipelines: 2.1%
AL NGPL Holdings LLC
3 mo. USD Term SOFR +3.750%,
8.556%, due 04/13/282		1,160,622		1,162,943

PACE Intermediate Fixed Income Investments
Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
Loan assignments—(continued)
Pipelines—(continued)
BCP Renaissance Parent LLC
3 mo. USD Term SOFR +3.500%,
8.829%, due 10/31/282	$	1,022,228	$	1,025,806
Medallion Midland Acquisition LLC
3 mo. USD Term SOFR +3.500%,
8.830%, due 10/18/282		907,725		910,847
UGI Energy Services LLC
1 mo. USD Term SOFR +3.250%,
8.666%, due 02/22/302		1,167,163		1,172,638
				4,272,234
Real estate investment trusts: 0.4%
Starwood Property Trust, Inc.
2022 Term Loan B,
1 mo. USD Term SOFR +3.250%,
8.566%, due 11/18/272		755,438		754,810
Software: 0.6%
Central Parent, Inc.
3 mo. USD Term SOFR +4.000%,
9.309%, due 07/06/292		1,141,375		1,145,427
Telecommunications: 1.2%
Connect Finco SARL
0.000%, due 09/27/292		1,015,000		983,281
Iridium Satellite LLC
1 mo. USD Term SOFR +2.500%,
7.816%, due 09/20/302		1,089,260		1,089,598

PACE Intermediate Fixed Income Investments
Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
Loan assignments—(continued)
Telecommunications—(continued)
Lumen Technologies, Inc.
1 mo. USD Term SOFR +6.000%,
11.316%, due 06/01/282	$	332,685	$	281,119
				2,353,998
Total loan assignments (cost—$23,393,197)				23,516,002
Mortgage-backed securities—11.5%
Arbor Multifamily Mortgage Securities Trust,
Series 2020-MF1, Class A5,
2.756%, due 05/15/531		465,000		398,947
Bank,
Series 2022-BNK42, Class A5,
4.493%, due 06/15/552		220,000		202,424
BBCMS Mortgage Trust,
Series 2019-C3, Class B,
4.096%, due 05/15/52		90,000		79,512
Benchmark Mortgage Trust,
Series 2019-B15, Class B,
3.564%, due 12/15/72		210,000		168,157
Series 2019-B15, Class C,
3.837%, due 12/15/722		111,000		81,937
Series 2022-B35, Class A5,
4.592%, due 05/15/552		270,000		243,413
BX Commercial Mortgage Trust,
Series 2021-XL2, Class A,
1 mo. USD Term SOFR +0.803%,
6.124%, due 10/15/381,2		233,846		231,654
Series 2021-CIP, Class A,
1 mo. USD Term SOFR +1.035%,
6.357%, due 12/15/381,2		215,000		212,581
BX Trust,
Series 2022-CLS, Class B,
6.300%, due 10/13/271		2,020,000		1,873,066
Series 2022-GPA, Class B,
1 mo. USD Term SOFR +2.664%,
7.985%, due 08/15/411,2		985,433		989,129
Series 2022-GPA, Class C,
1 mo. USD Term SOFR +3.213%,
8.534%, due 08/15/421,2		936,162		939,087
Cantor Commercial Real Estate Lending,
Series 2019-CF3, Class B,
3.500%, due 01/15/532		101,000		82,605
CD Mortgage Trust,
Series 2017-CD3, Class A4,
3.631%, due 02/10/50		300,000		274,345
Citigroup Commercial Mortgage Trust,
Series 2023-PRM3, Class B,
6.572%, due 07/10/281,2		880,000		877,450

PACE Intermediate Fixed Income Investments
Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
Mortgage-backed securities—(continued)
Cold Storage Trust,
Series 2020-ICE5, Class A,
1 mo. USD Term SOFR +1.014%,
6.334%, due 11/15/371,2	$	530,815	$	529,654
COMM Mortgage Trust,
Series 2015-CR25, Class A3,
3.505%, due 08/10/48		219,018		213,855
Series 2014-CR16, Class A4,
4.051%, due 04/10/47		14,258		14,216
CRSO Trust
7.658%, due 07/10/282		880,000		894,310
DC Commercial Mortgage Trust,
Series 2023-DC, Class B,
6.804%, due 09/12/401		660,000		664,664
Extended Stay America Trust,
Series 2021-ESH, Class A,
1 mo. USD Term SOFR +1.194%,
6.516%, due 07/15/381,2		374,845		374,376
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates,
Series K121, Class X1,
1.117%, due 10/25/302		1,179,399		58,757
Series KL06, Class XFX,
1.467%, due 12/25/292		720,000		36,304
Series K142, Class A2,
2.400%, due 03/25/32		385,000		317,338
Series K144, Class A2,
2.450%, due 04/25/32		270,000		222,879
Series K145, Class A2,
2.580%, due 05/25/32		605,000		503,593
Series KC02, Class A2,
3.370%, due 07/25/25		500,133		488,176
Federal Home Loan Mortgage Corp. Multifamily WI Certificates,
Series K146, Class A2,
2.920%, due 07/25/32		170,000		145,424
Federal National Mortgage Association-Aces,
Series 2022-M5, Class A3,
2.433%, due 01/01/342		325,000		255,399
FRESB Mortgage Trust,
Series 2019-SB60, Class A10H,
3.500%, due 01/25/392		158,910		144,182
JP Morgan Chase Commercial Mortgage Securities Trust,
Series 2021-MHC, Class A,
1 mo. USD Term SOFR +0.914%,
6.486%, due 04/15/381,2		85,041		84,828
Series 2022-ACB, Class A,
30 day USD SOFR Average +1.400%,
6.730%, due 03/15/391,2		360,000		355,500

PACE Intermediate Fixed Income Investments
Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
Mortgage-backed securities—(continued)
MF1 Trust,
Series 2021-W10, Class A,
1 mo. USD Term SOFR +1.070%,
6.391%, due 12/15/341,2	$	100,000	$	99,500
Series 2021-W10, Class B,
1 mo. USD Term SOFR +1.370%,
6.691%, due 12/15/341,2		370,000		364,681
Morgan Stanley Capital I Trust,
Series 2015-MS1, Class A4,
3.779%, due 05/15/482		520,000		505,696
Series 2018-SUN, Class A,
1 mo. USD Term SOFR +1.201%,
6.520%, due 07/15/351,2		290,000		289,456
MTN Commercial Mortgage Trust,
Series 2022-LPFL, Class A,
1 mo. USD Term SOFR +1.397%,
6.727%, due 03/15/391,2		2,000,000		1,968,750
OAKST Commercial Mortgage Trust,
Series 2023-NLP, Class A,
6.298%, due 03/15/401,2		2,050,000		2,025,371
One Bryant Park Trust,
Series 2019-OBP, Class A,
2.516%, due 09/15/541		2,300,000		1,908,554
SCOTT Trust,
Series 2023-SFS, Class A,
5.910%, due 03/15/401		870,000		860,855
Taubman Centers Commercial Mortgage Trust,
Series 2022-DPM, Class A,
1 mo. USD Term SOFR +2.186%,
7.507%, due 05/15/371,2		260,000		261,462
Wells Fargo Commercial Mortgage Trust,
Series 2018-C46, Class A4,
4.152%, due 08/15/51		135,000		125,649
Series 2018-C44, Class A5,
4.212%, due 05/15/51		445,000		416,742
WMRK Commercial Mortgage Trust,
Series 2022-WMRK, Class C,
1 mo. USD Term SOFR +4.083%,
9.404%, due 11/15/271,2		2,330,000		2,338,009
Total mortgage-backed securities (cost—$23,843,201)				23,122,487
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		156,657
State of California, GO Bonds,
7.550%, due 04/01/39		70,000		82,273
				238,930

PACE Intermediate Fixed Income Investments
Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
Municipal bonds—(continued)
Michigan: 0.0%†
University of Michigan, Revenue Bonds,
Series B,
3.504%, due 04/01/52	$	93,000	$	68,976
Minnesota: 0.0%†
University of Minnesota, Revenue Bonds,
4.048%, due 04/01/52		78,000		63,692
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		110,269
New Jersey Turnpike Authority, Taxable Refunding, Revenue Bonds,
Series B,
2.782%, due 01/01/40		25,000		17,901
				128,170
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		100,910
Series C,
2.152%, due 03/15/31		165,000		135,815
				236,725
Texas: 0.1%
City of Houston TX, GO Bonds,
3.961%, due 03/01/47		85,000		69,848

PACE Intermediate Fixed Income Investments
Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
Municipal bonds—(continued)
Texas—(continued)
State of Texas, Public Finance Authority, Taxable Refunding, GO Bonds,
Series B,
2.754%, due 10/01/41	$	50,000	$	35,002
				104,850
Total municipal bonds (cost—$1,043,022)				841,343

	Number of shares
Preferred stocks: 0.6%
Capital markets: 0.6%
Trinity Capital, Inc.* (cost—$1,250,000)		50,000	1,277,500

	Face amount
U.S. Treasury obligations: 2.1%
U.S. Treasury Bonds
1.375% due 08/15/50		4,550,000	2,220,080
3.625% due 02/15/53		1,250,000	1,021,289
U.S. Treasury Notes,
4.125%, due 03/31/29		1,075,000	1,046,950
Total U.S. Treasury obligations (cost—$4,897,597)			4,288,319

	Number of shares
Common stocks: 1.1%
Mortgage real estate investment: 1.1%
Ellington Financial, Inc.,Series C (cost—$2,335,000)		93,400	2,178,088
Short-term investments—2.1%
Investment companies: 0.9%
State Street Institutional U.S. Government Money Market Fund, 5.248%6 (cost $1,856,249)		1,856,249	1,856,249

PACE Intermediate Fixed Income Investments
Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
Short-term U.S. Treasury obligations—1.2%
U.S. Treasury Bills
5.220% due 07/25/246	$	1,300,000	$	1,283,893
5.338% due 10/10/246		1,200,000		1,172,035
Total short-term U.S. Treasury obligations (cost—$2,456,891)				2,455,928
Total Short-term investments (cost—$4,313,140)				4,312,177

	Number of shares
Investment of cash collateral from securities loaned—1.0%
Money market funds: 1.0%
State Street Navigator Securities Lending Government Money Market Portfolio, 5.290%6 (cost—$2,058,970)		2,058,970		2,058,970
Total investments (cost—$205,517,056)7—100.8%				203,849,376
Liabilities in excess of other assets—(0.8)%				(1,642,782	)
Net assets—100.0%			$	202,206,594

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:
103	USD	U.S. Long Bond Futures	June 2024	$	12,179,039		$	11,722,687		$	(456,352	)
110	USD	U.S. Treasury Note 10 Year Futures	June 2024		12,102,000			11,818,125			(283,875	)
18	USD	U.S. Treasury Note 2 Year Futures	June 2024		3,683,997			3,647,813			(36,184	)
150	USD	Ultra U.S. Treasury Bond Futures	June 2024		18,911,266			17,934,375			(976,891	)
250	USD	Ultra U.S. Treasury Note 10 Year Futures	June 2024		28,375,397			27,554,687			(820,710	)
Total				$	75,251,699		$	72,677,687		$	(2,574,012	)
U.S. Treasury futures sell contracts:
209	USD	U.S. Treasury Note 5 Year Futures	June 2024	$	(22,298,806	)	$	(21,891,117	)	$	407,689
Total				$	(22,298,806	)	$	(21,891,117	)	$	407,689
Net unrealized appreciation (depreciation)										$	(2,166,323	)

PACE Intermediate Fixed Income Investments
Portfolio of investments – April 30, 2024 (unaudited) 

Fair valuation summary

The following is a summary of the fair valuations according to the inputs used as of April 30, 2024 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	$	2,178,088		$	—	$	—	$	2,178,088
Preferred stocks		1,277,500			—		—		1,277,500
Asset-backed securities		—			46,327,595		1,830,732		48,158,327
Corporate bonds		—			94,096,163		—		94,096,163
Loan assignments		—			23,516,002		—		23,516,002
Mortgage-backed securities		—			23,122,487		—		23,122,487
Municipal bonds		—			841,343		—		841,343
U.S. Treasury obligations		—			4,288,319		—		4,288,319
Short-term investments		—			1,856,249		—		1,856,249
Short-term U.S. Treasury obligations		—			2,455,928		—		2,455,928
Investment of cash collateral from securities loaned		—			2,058,970		—		2,058,970
Futures contracts		407,689			—		—		407,689
Total	$	3,863,277		$	198,563,056	$	1,830,732	$	204,257,065
Liabilities
Futures contracts	$	(2,574,012	)	$	—	$	—	$	(2,574,012	)
Total	$	(2,574,012	)	$	—	$	—	$	(2,574,012	)

At April 30, 2024, 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 $102,488,665, represented 50.7% of the Portfolios net assets at period end.

2 Floating or variable rate securities. The rates disclosed are as of April 30, 2024. 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 Position is unsettled. Contract rate was not determined at April 30, 2024 and does not take effect until settlement.

6 Rates shown reflect yield at April 30, 2024.

7 Includes $2,013,450 of investments in securities on loan, at value plus accrued interest and dividends, if any. The Fund includes cash collateral of $2,058,970 and non-cash collateral of $0.

PACE Strategic Fixed Income Investments
Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Asset-backed securities—16.4%
Accredited Mortgage Loan Trust,
Series 2004-2, Class A1,
1 mo. USD Term SOFR +0.404%,
6.011%, due 07/25/342		268,978	$	260,551
Adams Outdoor Advertising LP,
Series 2023-1, Class A2,
6.967%, due 07/15/533		980,000		1,000,355
Aligned Data Centers Issuer LLC,
Series 2022-1A, Class A2,
6.350%, due 10/15/473		3,000,000		3,001,765
Antares CLO Ltd.,
Series 2019-1A, Class BR,
3 mo. USD Term SOFR +3.350%,
8.675%, due 01/20/362,3		2,270,000		2,295,699
Avis Budget Rental Car Funding AESOP LLC,
Series 2021-2A, Class B,
1.900%, due 02/20/283		122,000		109,180
Series 2023-2A, Class C,
6.180%, due 10/20/273		135,000		133,404
Series 2023-4A, Class A,
5.490%, due 06/20/293		2,100,000		2,078,939
Series 2024-1A, Class B,
5.850%, due 06/20/303		135,000		133,654
Bayview Opportunity Master Fund VII LLC,
Series 2024-EDU1, Class D,
30 day USD SOFR Average +2.750%,
8.830%, due 06/25/472,3,4		19,000		19,008
Series 2024-EDU1, Class C,
30 day USD SOFR Average +1.800%,
7.620%, due 06/25/472,3,4		44,000		44,170
BHG Securitization Trust,
Series 2022-C, Class B,
5.930%, due 10/17/353		2,340,000		2,310,135
BPCRE Ltd.,
Series 2022-FL2, Class A,
1 mo. USD Term SOFR +2.400%,
7.719%, due 01/16/372,3		272,745		273,108
Business Jet Securities LLC,
Series 2024-1A, Class B,
6.924%, due 05/15/393		100,000		100,042
Series 2024-1A, Class A,
6.197%, due 05/15/393		117,000		116,256
CARS-DB7 LP,
Series 2023-1A, Class A2,
6.500%, due 09/15/533		1,171,396		1,151,189
CHEC Loan Trust,
Series 2004-2, Class M1,
1 mo. USD Term SOFR +1.074%,
6.391%, due 06/25/342		295,581		290,721

PACE Strategic Fixed Income Investments
Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Asset-backed securities—(continued)
CLI Funding VIII LLC,
Series 2023-1A, Class A,
6.310%, due 06/18/483		1,179,421	$	1,168,696
Cogent Ipv4 LLC,
Series 2024-1A, Class A2,
7.924%, due 05/25/543,4		2,360,000		2,360,944
Compass Datacenters Issuer II LLC,
Series 2024-1A, Class B,
7.000%, due 02/25/493		102,000		102,236
Series 2024-1A, Class A2,
5.750%, due 02/25/493		121,000		118,823
Series 2024-1A, Class A1,
5.250%, due 02/25/493		100,000		96,704
Credit Acceptance Auto Loan Trust,
Series 2022-3A, Class C,
8.450%, due 02/15/333		3,050,000		3,150,416
CyrusOne Data Centers Issuer I LLC,
Series 2023-1A, Class A2,
4.300%, due 04/20/483		260,000		241,264
DataBank Issuer LLC,
Series 2023-1A, Class A2,
5.116%, due 02/25/533		1,285,000		1,203,418
Dell Equipment Finance Trust,
Series 2024-1, Class C,
5.730%, due 03/22/303		100,000		99,460
Delta Funding Home Equity Loan Trust,
Series 1999-3, Class A1A,
1 mo. USD Term SOFR +0.934%,
6.256%, due 09/15/292		25,522		24,367
First Franklin Mortgage Loan Trust,
Series 2006-FF13, Class A2D,
1 mo. USD Term SOFR +0.594%,
5.911%, due 10/25/362		974,789		609,941
FREED ABS Trust,
Series 2022-4FP, Class B,
7.580%, due 12/18/293		460,665		461,149
Frontier Issuer LLC,
Series 2023-1, Class A2,
6.600%, due 08/20/533		303,000		302,681
FS Rialto Issuer LLC,
Series 2022-FL4, Class A,
30 day USD SOFR Average +1.900%,
7.230%, due 01/19/392,3		800,000		799,705
GLS Auto Receivables Issuer Trust,
Series 2024-1A, Class D,
5.950%, due 12/17/293		61,000		60,070
GoldenTree Loan Management U.S. CLO 4 Ltd.,
Series 2019-4A, Class ARR,
3 mo. USD Term SOFR +1.150%,
6.473%, due 04/24/312,3		500,000		501,025

PACE Strategic Fixed Income Investments
Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Asset-backed securities—(continued)
Golub Capital Partners ABS Funding Ltd.,
Series 2022-1A, Class A2B,
6.580%, due 07/22/303		2,580,000	$	2,412,800
Gracie Point International Funding LLC,
Series 2024-1A, Class C,
90 day USD SOFR Average +3.500%,
8.858%, due 03/01/282,3		100,000		100,308
Series 2024-1A, Class A,
90 day USD SOFR Average +1.700%,
7.058%, due 03/01/282,3		108,000		108,265
GSAMP Trust,
Series 2006-HE4, Class A1,
1 mo. USD Term SOFR +0.394%,
5.711%, due 06/25/362		534,710		513,052
HGI CRE CLO Ltd.,
Series 2022-FL3, Class A,
30 day USD SOFR Average +1.700%,
7.030%, due 04/20/372,3		800,000		798,537
Hilton Grand Vacations Trust,
Series 2022-1D, Class D,
6.790%, due 06/20/343		59,649		56,622
Series 2022-2A, Class B,
4.740%, due 01/25/373		60,973		59,171
Series 2022-2A, Class A,
4.300%, due 01/25/373		70,729		68,186
Series 2024-1B, Class C,
6.620%, due 09/15/393		63,000		62,960
Series 2024-1B, Class B,
5.990%, due 09/15/393		27,000		26,977
JP Morgan Mortgage Trust,
Series 2023-HE3, Class M1,
30 day USD SOFR Average +2.100%,
7.430%, due 05/25/542,3,5,6		95,000		95,711
KREF Ltd.,
Series 2022-FL3, Class A,
1 mo. USD Term SOFR +1.450%,
6.769%, due 02/17/392,3		600,000		597,393
LoanCore Issuer Ltd.,
Series 2021-CRE6, Class A,
1 mo. USD Term SOFR +1.414%,
6.736%, due 11/15/382,3		557,187		550,175
M360 Ltd.,
Series 2021-CRE3, Class A,
1 mo. USD Term SOFR +1.614%,
6.930%, due 11/22/382,3		573,665		567,022

PACE Strategic Fixed Income Investments
Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Asset-backed securities—(continued)
Mariner Finance Issuance Trust,
Series 2022-AA, Class B,
7.200%, due 10/20/373		2,431,000	$	2,433,787
MCF CLO 10 Ltd.,
Series 2023-1A, Class C,
3 mo. USD Term SOFR +4.200%,
9.529%, due 04/15/352,3		820,000		826,760
MetroNet Infrastructure Issuer LLC,
Series 2022-1A, Class A2,
6.350%, due 10/20/523		289,000		288,727
MF1 Ltd.,
Series 2022-FL8, Class A,
1 mo. USD Term SOFR +1.350%,
6.669%, due 02/19/372,3		581,198		575,455
Monroe Capital ABS Funding II Ltd.,
Series 2023-1A, Class A1,
6.650%, due 04/22/333		2,170,000		2,157,940
Morgan Stanley ABS Capital I, Inc. Trust,
Series 2005-HE1, Class M2,
1 mo. USD Term SOFR +0.819%,
6.136%, due 12/25/342		126,575		117,401
MVW LLC,
Series 2022-1A, Class B,
4.400%, due 11/21/393		107,698		103,231
Series 2023-2A, Class C,
7.060%, due 11/20/403		94,654		94,861
Series 2024-1A, Class B,
5.510%, due 02/20/433		101,341		100,132
Navient Private Education Refi Loan Trust,
Series 2021-BA, Class A,
0.940%, due 07/15/693		45,329		39,126
Series 2021-EA, Class A,
0.970%, due 12/16/693		226,761		193,776
Series 2021-FA, Class A,
1.110%, due 02/18/703		481,531		404,981
Series 2021-GA, Class A,
1.580%, due 04/15/703		180,188		155,255
New Economy Assets Phase 1 Sponsor LLC,
Series 2021-1, Class A1,
1.910%, due 10/20/613		1,500,000		1,306,965
NextGear Floorplan Master Owner Trust,
Series 2023-1A, Class A2,
5.740%, due 03/15/283		2,250,000		2,253,453
NFAS2 LLC,
Series 2022-1, Class B,
7.590%, due 09/15/283		1,460,000		1,432,766

PACE Strategic Fixed Income Investments
Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Asset-backed securities—(continued)
NMEF Funding LLC,
Series 2022-B, Class A2,
6.070%, due 06/15/293		1,811,013	$	1,813,170
OneMain Financial Issuance Trust,
Series 2022-2A, Class A,
4.890%, due 10/14/343		288,000		285,519
Series 2022-3A, Class A,
5.940%, due 05/15/343		2,120,000		2,122,119
Oportun Issuance Trust,
Series 2022-3, Class B,
8.533%, due 01/08/303		3,040,000		3,053,418
Oxford Finance Funding Trust,
Series 2023-1A, Class B,
7.879%, due 02/15/313		2,560,000		2,483,440
Pagaya AI Debt Trust,
Series 2024-3, Class A,
6.258%, due 10/15/313		500,000		499,276
Prestige Auto Receivables Trust,
Series 2021-1A, Class D,
2.080%, due 02/15/283		179,000		165,074
Series 2021-1A, Class C,
1.530%, due 02/15/283		121,000		116,309
Regional Management Issuance Trust,
Series 2022-2B, Class B,
8.510%, due 11/17/323		3,140,000		3,227,019
Residential Asset Securities Corp. Trust,
Series 2005-KS11, Class M2,
1 mo. USD Term SOFR +0.744%,
6.061%, due 12/25/352		78,699		78,303
Retained Vantage Data Centers Issuer LLC,
Series 2023-1A, Class A2A,
5.000%, due 09/15/483		1,790,000		1,698,319
Santander Drive Auto Receivables Trust,
Series 2022-7, Class C,
6.690%, due 03/17/31		3,000,000		3,041,394
Series 2024-1, Class C,
5.450%, due 03/15/30		50,000		49,386
Saxon Asset Securities Trust,
Series 2004-1, Class M1,
1 mo. USD Term SOFR +0.909%,
2.168%, due 03/25/352		59,396		52,643
Series 2006-1, Class M1,
1 mo. USD Term SOFR +0.579%,
5.896%, due 03/25/362		737,415		692,327
SFS Auto Receivables Securitization Trust,
Series 2024-1A, Class C,
5.510%, due 01/20/323		68,000		67,111
Series 2024-1A, Class A2,
5.350%, due 06/21/273		500,000		497,991

PACE Strategic Fixed Income Investments
Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Asset-backed securities—(continued)
Sierra Timeshare Receivables Funding LLC,
Series 2021-2A, Class C,
1.950%, due 09/20/383		56,586	$	52,630
Series 2021-2A, Class B,
1.800%, due 09/20/383		23,977		22,442
Series 2022-2A, Class B,
5.040%, due 06/20/403		105,733		102,768
Series 2023-2A, Class C,
7.300%, due 04/20/403		86,867		87,456
Series 2023-3A, Class C,
7.120%, due 09/20/403		101,164		101,100
Series 2024-1A, Class C,
5.940%, due 01/20/433		103,989		103,055
SoFi Professional Loan Program LLC,
Series 2019-C, Class BFX,
3.050%, due 11/16/483		158,000		130,314
Sotheby's Artfi Master Trust,
Series 2024-1A, Class A1,
6.430%, due 12/22/313		171,000		170,983
Stack Infrastructure Issuer LLC,
Series 2023-1A, Class A2,
5.900%, due 03/25/483		950,000		934,273
Series 2023-3A, Class A2,
5.900%, due 10/25/483		185,000		182,407
Store Master Funding I-VII XIV XIX XX,
Series 2021-1A, Class A1,
2.120%, due 06/20/513		1,350,592		1,151,726
Structured Asset Securities Corp.,
Series 2005-WF1, Class M1,
1 mo. USD Term SOFR +0.774%,
6.091%, due 02/25/352		10,089		10,260
Structured Asset Securities Corp. Mortgage Pass-Through Certificates,
Series 2001-SB1, Class A2,
3.375%, due 08/25/31		25,010		24,894
Taco Bell Funding LLC,
Series 2018-1A, Class A2II,
4.940%, due 11/25/483		231,458		221,582
TAL Advantage VII LLC,
Series 2020-1A, Class A,
2.050%, due 09/20/453		62,375		56,299
TierPoint Issuer LLC,
Series 2023-1A, Class A2,
6.000%, due 06/25/533		1,020,000		977,288
TIF Funding III LLC,
Series 2024-1A, Class B,
5.580%, due 04/20/493		108,319		105,887

PACE Strategic Fixed Income Investments
Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Asset-backed securities—(continued)
Towd Point Mortgage Trust,
Series 2024-CES1, Class A1B,
6.049%, due 01/25/642,3,5,6		96,315	$	95,435
Series 2024-CES1, Class A1A,
5.848%, due 01/25/642,3,5,6		139,656		138,380
Series 2024-CES2, Class A1A,
6.125%, due 02/25/642,3		221,665		222,436
U.S. Bank NA,
Series 2023-1, Class B,
6.789%, due 08/25/323		203,682		204,297
U.S. Small Business Administration,
Series 2005-20H, Class 1,
5.110%, due 08/01/25		19,631		19,421
Series 2007-20D, Class 1,
5.320%, due 04/01/27		100,580		98,059
Vantage Data Centers Issuer LLC,
Series 2023-1A, Class A2,
6.316%, due 03/16/483		1,370,000		1,358,505
VMC Finance LLC,
Series 2022-FL5, Class A,
30 day USD SOFR Average +1.900%,
7.230%, due 02/18/392,3		793,224		784,806
Willis Engine Structured Trust VII,
Series 2023-A, Class A,
8.000%, due 10/15/483		770,427		807,739

PACE Strategic Fixed Income Investments
Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Asset-backed securities—(continued)
Ziply Fiber Issuer LLC,
Series 2024-1A, Class B,
7.810%, due 04/20/543		155,000	$	154,925
Total asset-backed securities (cost—$71,163,060)				71,383,055
Corporate bonds—48.3%
Advertising: 0.0%†
Clear Channel Outdoor Holdings, Inc.
5.125%, due 08/15/273		40,000		37,077
7.875%, due 04/01/303		20,000		19,609
9.000%, due 09/15/283,7		15,000		15,421
				72,107
Aerospace & defense: 0.6%
AAR Escrow Issuer LLC
6.750%, due 03/15/293		15,000		15,081
BAE Systems PLC
5.125%, due 03/26/293		1,100,000		1,079,815
Boeing Co.
2.700%, due 02/01/27		100,000		91,142
2.750%, due 02/01/26		300,000		282,649
3.450%, due 11/01/28		200,000		178,494
5.805%, due 05/01/50		405,000		358,394
5.930%, due 05/01/60		100,000		87,408
Bombardier, Inc.
6.000%, due 02/15/283,7		20,000		19,504
7.250%, due 07/01/313		10,000		10,025
8.750%, due 11/15/303		30,000		31,917
L3Harris Technologies, Inc.
5.400%, due 07/31/33		110,000		107,148

PACE Strategic Fixed Income Investments
Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Aerospace & defense—(continued)
Rolls-Royce PLC
5.750%, due 10/15/273		200,000	$	197,806
RTX Corp.
5.750%, due 11/08/26		100,000		100,717
TransDigm, Inc.
6.375%, due 03/01/293		55,000		54,580
6.625%, due 03/01/323		30,000		29,949
6.750%, due 08/15/283		60,000		60,255
6.875%, due 12/15/303		40,000		40,272
				2,745,156
Agriculture: 0.3%
BAT Capital Corp.
6.343%, due 08/02/30		200,000		205,056
Cargill, Inc.
5.125%, due 10/11/323		1,085,000		1,059,914
Darling Ingredients, Inc.
6.000%, due 06/15/303		15,000		14,572
Imperial Brands Finance PLC
3.500%, due 07/26/263		200,000		190,100
				1,469,642
Airlines: 0.5%
Air Canada
3.875%, due 08/15/263		40,000		37,945
American Airlines Pass-Through Trust
Series 2016-2, Class AA,
3.200%, due 06/15/28		202,350		185,217
Series 2015-2, Class AA,
3.600%, due 09/22/27		186,303		174,194
American Airlines, Inc.
7.250%, due 02/15/283,7		25,000		25,142

PACE Strategic Fixed Income Investments
Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Airlines—(continued)
American Airlines, Inc./AAdvantage Loyalty IP Ltd.
5.500%, due 04/20/263		66,667	$	65,893
5.750%, due 04/20/293		95,000		91,745
Continental Airlines Pass-Through Trust
Series 2012-2, Class A,
4.000%, due 10/29/24		95,573		94,683
Hawaiian Brand Intellectual Property Ltd./HawaiianMiles Loyalty Ltd.
5.750%, due 01/20/263		1,295,000		1,214,567
JetBlue Pass-Through Trust
Series 2019-1, Class A,
2.950%, due 05/15/28		245,132		216,210
Spirit Airlines Pass-Through Trust
Series 2015-1A,
4.100%, due 04/01/28		53,909		49,207
United Airlines Holdings, Inc.
4.875%, due 01/15/25		25,000		24,734
United Airlines, Inc.
4.625%, due 04/15/293		35,000		32,257
				2,211,794
Apparel: 0.1%
Birkenstock Financing SARL
5.250%, due 04/30/298	EUR	100,000		106,618
Crocs, Inc.
4.125%, due 08/15/313		25,000		20,979
Tapestry, Inc.
7.700%, due 11/27/30		100,000		103,776
				231,373

PACE Strategic Fixed Income Investments
Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Auto manufacturers: 0.8%
American Honda Finance Corp.
Secured Overnight Financing Rate Index +0.670%,
6.023%, due 01/10/252		200,000	$	200,486
Secured Overnight Financing Rate Index +0.700%,
6.050%, due 11/22/242		100,000		100,270
Daimler Truck Finance North America LLC
2.000%, due 12/14/263		200,000		182,799
Secured Overnight Financing Rate +0.750%,
6.103%, due 12/13/242,3		200,000		200,468
Ford Motor Credit Co. LLC
3.375%, due 11/13/25		200,000		192,003
5.800%, due 03/05/27		200,000		198,675
Hyundai Capital America
0.875%, due 06/14/243		200,000		198,814
5.250%, due 01/08/273		200,000		197,630
5.875%, due 04/07/253		200,000		199,969
5.950%, due 09/21/263		100,000		100,335
Jaguar Land Rover Automotive PLC
4.500%, due 07/15/288	EUR	200,000		210,527
Nissan Motor Acceptance Co. LLC
2.000%, due 03/09/263		100,000		92,305
2.750%, due 03/09/283		200,000		174,939
Nissan Motor Co. Ltd.
3.522%, due 09/17/253		200,000		192,729
4.810%, due 09/17/303		200,000		181,910

PACE Strategic Fixed Income Investments
Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Auto manufacturers—(continued)
Volkswagen Bank GmbH
2.500%, due 07/31/268	EUR	700,000	$	723,017
Volkswagen Group of America Finance LLC
2.850%, due 09/26/243		200,000		197,584
				3,544,460
Auto parts & equipment: 0.1%
Adient Global Holdings Ltd.
8.250%, due 04/15/313		5,000		5,192
Clarios Global LP
6.750%, due 05/15/253		20,000		20,004
Dana, Inc.
4.500%, due 02/15/32		10,000		8,484
5.625%, due 06/15/28		5,000		4,818
Goodyear Tire & Rubber Co.
5.000%, due 07/15/29		20,000		18,139
5.250%, due 04/30/31		45,000		40,355
IHO Verwaltungs GmbH
6.375% Cash or 7.125% PIK,
6.375%, due 05/15/293,9		20,000		19,661
3.875% Cash or 4.625% PIK,
3.875%, due 05/15/278,9	EUR	100,000		103,708
ZF Europe Finance BV
3.000%, due 10/23/298		200,000		195,565
ZF North America Capital, Inc.
6.750%, due 04/23/303		15,000		15,031
6.875%, due 04/14/283		40,000		40,268
7.125%, due 04/14/303		15,000		15,337
				486,562

PACE Strategic Fixed Income Investments
Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Banks: 14.0%
ABN AMRO Bank NV
(fixed, converts to FRN on 03/13/32),
3.324%, due 03/13/372,3		200,000	$	160,176
(fixed, converts to FRN on 10/13/25),
6.575%, due 10/13/262,3		200,000		201,255
ASB Bank Ltd.
(fixed, converts to FRN on 06/17/27),
5.284%, due 06/17/322,3		1,700,000		1,659,030
5.398%, due 11/29/273		1,680,000		1,668,586
Australia & New Zealand Banking Group Ltd.
5.671%, due 10/03/25		250,000		250,873
Banco Santander SA
4.379%, due 04/12/28		200,000		189,391
5.147%, due 08/18/25		200,000		197,605

PACE Strategic Fixed Income Investments
Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Banks—(continued)
Bank of America Corp.
(fixed, converts to FRN on 02/13/30),
2.496%, due 02/13/312		290,000	$	244,060
(fixed, converts to FRN on 04/29/30),
2.592%, due 04/29/312		200,000		168,196
(fixed, converts to FRN on 02/04/32),
2.972%, due 02/04/332		270,000		222,900
(fixed, converts to FRN on 04/24/27),
3.705%, due 04/24/282		100,000		94,692
(fixed, converts to FRN on 01/20/27),
3.824%, due 01/20/282		200,000		190,898
Series MM,
(fixed, converts to FRN on 01/28/25),
4.300%, due 01/28/252,10		20,000		19,457
Series RR,
(fixed, converts to FRN on 01/27/27),
4.375%, due 01/27/272,10		200,000		183,423
(fixed, converts to FRN on 04/27/27),
4.376%, due 04/27/282		250,000		241,636
(fixed, converts to FRN on 07/22/27),
4.948%, due 07/22/282		225,000		220,722
(fixed, converts to FRN on 01/20/26),
5.080%, due 01/20/272		200,000		197,879
(fixed, converts to FRN on 01/23/34),
5.468%, due 01/23/352		130,000		126,421
(fixed, converts to FRN on 09/15/28),
5.819%, due 09/15/292		200,000		201,177
Series AA,
(fixed, converts to FRN on 03/17/25),
6.100%, due 03/17/252,10		140,000		139,753
Series X,
(fixed, converts to FRN on 09/05/24),
6.250%, due 09/05/242,10		47,000		46,847
Bank of Montreal
5.300%, due 06/05/26		105,000		104,551
Bank of New York Mellon Corp.
(fixed, converts to FRN on 02/07/27),
3.442%, due 02/07/282		1,760,000		1,671,581
Series I,
(fixed, converts to FRN on 12/20/26),
3.750%, due 12/20/262,10		75,000		67,395
(fixed, converts to FRN on 03/14/29),
4.975%, due 03/14/302		200,000		195,819
Bank of New Zealand
4.846%, due 02/07/283		1,390,000		1,357,388
Bank of Nova Scotia
5.350%, due 12/07/26		170,000		169,159
Banque Federative du Credit Mutuel SA
4.753%, due 07/13/273		200,000		195,027
5.896%, due 07/13/263		200,000		201,025

PACE Strategic Fixed Income Investments
Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Banks—(continued)
Barclays PLC
4.836%, due 05/09/28		535,000	$	510,746
(fixed, converts to FRN on 05/16/28),
4.972%, due 05/16/292		200,000		192,965
(fixed, converts to FRN on 09/13/33),
6.692%, due 09/13/342		250,000		258,853
(fixed, converts to FRN on 11/02/32),
7.437%, due 11/02/332		400,000		432,681
(fixed, converts to FRN on 09/15/29),
8.000%, due 03/15/292,10		200,000		196,671
BNP Paribas SA
3.375%, due 01/09/253		200,000		196,700
(fixed, converts to FRN on 01/12/27),
4.625%, due 01/12/272,3,10		200,000		178,338
(fixed, converts to FRN on 05/20/29),
5.497%, due 05/20/302,3,7		200,000		196,641
BPCE SA
(fixed, converts to FRN on 10/19/28),
6.714%, due 10/19/292,3		250,000		257,267
CaixaBank SA
(fixed, converts to FRN on 03/15/29),
5.673%, due 03/15/302,3		200,000		196,529
Citibank NA
5.864%, due 09/29/25		100,000		100,488
Citigroup, Inc.
(fixed, converts to FRN on 01/10/27),
3.887%, due 01/10/282		660,000		630,905
(fixed, converts to FRN on 03/31/30),
4.412%, due 03/31/312		1,745,000		1,628,866
Series V,
(fixed, converts to FRN on 01/30/25),
4.700%, due 01/30/252,10		22,000		21,377
Series U,
(fixed, converts to FRN on 09/12/24),
5.000%, due 09/12/242,10		39,000		38,631
Series Z,
(fixed, converts to FRN on 05/15/28),
7.375%, due 05/15/282,7,10		140,000		143,555
Citizens Financial Group, Inc.
Series B,
3 mo. USD Term SOFR +3.265%,
8.567%, due 07/06/242,10		60,000		57,156
Series C,
3 mo. USD Term SOFR +3.419%,
8.721%, due 07/06/242,10		80,000		76,999
Comerica Bank
4.000%, due 07/27/257		1,020,000		987,446
(fixed, converts to FRN on 08/25/32),
5.332%, due 08/25/332		1,690,000		1,479,215
Danske Bank AS
(fixed, converts to FRN on 03/01/29),
5.705%, due 03/01/302,3		200,000		197,506

PACE Strategic Fixed Income Investments
Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Banks—(continued)
Deutsche Bank AG
(fixed, converts to FRN on 11/26/24),
3.961%, due 11/26/252		200,000	$	197,386
(fixed, converts to FRN on 02/08/27),
5.706%, due 02/08/282		200,000		198,130
(fixed, converts to FRN on 11/20/28),
6.819%, due 11/20/292		200,000		205,554
Fifth Third Bancorp
(fixed, converts to FRN on 11/01/26),
1.707%, due 11/01/272		40,000		36,153
(fixed, converts to FRN on 04/25/32),
4.337%, due 04/25/332		105,000		92,910
(fixed, converts to FRN on 07/28/29),
4.772%, due 07/28/302		35,000		33,012
(fixed, converts to FRN on 01/29/31),
5.631%, due 01/29/322		40,000		38,872
(fixed, converts to FRN on 10/27/27),
6.361%, due 10/27/282		2,430,000		2,449,625
Series H,
3 mo. USD Term SOFR +3.295%,
8.597%, due 05/31/242,10		115,000		111,645
Goldman Sachs Bank USA
Secured Overnight Financing Rate +0.770%,
6.124%, due 03/18/272		200,000		200,148
Goldman Sachs Group, Inc.
(fixed, converts to FRN on 10/21/26),
1.948%, due 10/21/272		100,000		91,308
(fixed, converts to FRN on 04/22/31),
2.615%, due 04/22/322		400,000		327,496
(fixed, converts to FRN on 09/29/24),
3.272%, due 09/29/252		200,000		197,804
3.500%, due 04/01/25		100,000		98,007
Series U,
(fixed, converts to FRN on 08/10/26),
3.650%, due 08/10/262,10		45,000		40,919
Series T,
(fixed, converts to FRN on 05/10/26),
3.800%, due 05/10/262,10		20,000		18,751
Series V,
(fixed, converts to FRN on 11/10/26),
4.125%, due 11/10/262,10		50,000		46,223
(fixed, converts to FRN on 08/23/27),
4.482%, due 08/23/282		265,000		256,024
3 mo. USD Term SOFR +2.012%,
7.337%, due 10/28/272		200,000		206,343
Grupo Aval Ltd.
4.375%, due 02/04/303		70,000		58,100

PACE Strategic Fixed Income Investments
Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Banks—(continued)
HSBC Holdings PLC
(fixed, converts to FRN on 06/04/30),
2.848%, due 06/04/312		2,000,000	$	1,686,562
(fixed, converts to FRN on 09/09/31),
4.700%, due 03/09/312,10		200,000		163,159
(fixed, converts to FRN on 08/11/32),
5.402%, due 08/11/332		200,000		193,332
(fixed, converts to FRN on 03/09/33),
6.254%, due 03/09/342		600,000		612,818
(fixed, converts to FRN on 11/03/27),
7.390%, due 11/03/282		1,205,000		1,263,245
Huntington Bancshares, Inc.
(fixed, converts to FRN on 08/04/27),
4.443%, due 08/04/282		830,000		795,138
Series G,
(fixed, converts to FRN on 10/15/27),
4.450%, due 10/15/272,7,10		8,000		7,088
Series F,
(fixed, converts to FRN on 07/15/30),
5.625%, due 07/15/302,10		19,000		16,969
(fixed, converts to FRN on 02/02/34),
5.709%, due 02/02/352		85,000		81,490
Series E,
3 mo. USD Term SOFR +3.142%,
8.470%, due 07/15/242,7,10		124,000		118,721
Huntington National Bank
5.650%, due 01/10/30		1,645,000		1,615,670
ING Groep NV
(fixed, converts to FRN on 03/28/25),
3.869%, due 03/28/262		1,800,000		1,766,962
(fixed, converts to FRN on 11/16/27),
3.875%, due 05/16/272,10		227,000		185,888
(fixed, converts to FRN on 03/19/29),
5.335%, due 03/19/302		200,000		195,944
(fixed, converts to FRN on 11/16/26),
5.750%, due 11/16/262,10		200,000		188,765
Secured Overnight Financing Rate +1.560%,
6.913%, due 09/11/272		200,000		202,914
Intesa Sanpaolo SpA
Series XR,
4.000%, due 09/23/293		200,000		181,289
7.200%, due 11/28/333		200,000		209,005
(fixed, converts to FRN on 11/21/32),
8.248%, due 11/21/332,3		200,000		217,034

PACE Strategic Fixed Income Investments
Portfolio of investments – April 30, 2024 (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	$	99,247
(fixed, converts to FRN on 09/22/26),
1.470%, due 09/22/272		200,000		181,385
(fixed, converts to FRN on 06/01/27),
2.182%, due 06/01/282		250,000		226,004
(fixed, converts to FRN on 02/24/27),
2.947%, due 02/24/282		200,000		186,163
(fixed, converts to FRN on 01/23/28),
3.509%, due 01/23/292		200,000		186,359
(fixed, converts to FRN on 01/29/26),
3.960%, due 01/29/272		100,000		97,079
(fixed, converts to FRN on 04/23/28),
4.005%, due 04/23/292		650,000		613,673
Series HH,
(fixed, converts to FRN on 02/01/25),
4.600%, due 02/01/252,10		16,000		15,738
Series FFF,
(fixed, converts to FRN on 08/01/24),
5.000%, due 08/01/242,10		45,000		44,776
(fixed, converts to FRN on 07/24/28),
5.299%, due 07/24/292		200,000		197,865
(fixed, converts to FRN on 01/23/34),
5.336%, due 01/23/352		150,000		145,398
(fixed, converts to FRN on 10/22/26),
6.070%, due 10/22/272		200,000		202,351

PACE Strategic Fixed Income Investments
Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Banks—(continued)
Series CC,
3 mo. USD Term SOFR +2.842%,
8.170%, due 08/01/242,10		45,000	$	45,244
KeyBank NA
5.850%, due 11/15/277		1,435,000		1,409,022
Lloyds Bank PLC
7.500%, due 04/02/322,8		800,000		502,136
Lloyds Banking Group PLC
(fixed, converts to FRN on 03/18/27),
3.750%, due 03/18/282		1,785,000		1,690,839
(fixed, converts to FRN on 01/05/34),
5.679%, due 01/05/352,7		200,000		195,089
(fixed, converts to FRN on 11/15/32),
7.953%, due 11/15/332		810,000		889,063
(fixed, converts to FRN on 03/27/30),
8.000%, due 09/27/292,7,10		200,000		197,512
M&T Bank Corp.
Series I,
(fixed, converts to FRN on 09/01/26),
3.500%, due 09/01/262,10		190,000		147,821
Series G,
(fixed, converts to FRN on 08/01/24),
5.000%, due 08/01/242,10		56,000		53,300
Mitsubishi UFJ Financial Group, Inc.
2.193%, due 02/25/25		200,000		194,332
Mizuho Financial Group, Inc.
(fixed, converts to FRN on 05/22/29),
3.261%, due 05/22/302		200,000		178,333

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Banks—(continued)
Morgan Stanley
3.591%, due 07/22/282		300,000	$	282,292
(fixed, converts to FRN on 03/21/29),
3.790%, due 03/21/302	EUR	100,000		106,110
(fixed, converts to FRN on 02/01/28),
5.123%, due 02/01/292		200,000		196,832
(fixed, converts to FRN on 07/20/28),
5.449%, due 07/20/292		200,000		198,777
(fixed, converts to FRN on 01/18/34),
5.466%, due 01/18/352		45,000		43,779
(fixed, converts to FRN on 04/19/34),
5.831%, due 04/19/352		70,000		69,972
(fixed, converts to FRN on 01/19/33),
5.948%, due 01/19/382		90,000		87,474
(fixed, converts to FRN on 10/18/32),
6.342%, due 10/18/332		1,380,000		1,431,274
Morgan Stanley Bank NA
Secured Overnight Financing Rate + 1.080%,
6.433%, due 01/14/282		250,000		251,927
NatWest Group PLC
(fixed, converts to FRN on 11/28/30),
3.032%, due 11/28/352		550,000		451,575
(fixed, converts to FRN on 05/22/27),
3.073%, due 05/22/282		200,000		184,847
(fixed, converts to FRN on 03/02/33),
6.016%, due 03/02/342,7		200,000		200,057
(fixed, converts to FRN on 11/10/25),
7.472%, due 11/10/262		1,370,000		1,401,500
Nordea Bank Abp
1.500%, due 09/30/263		200,000		181,418
PNC Financial Services Group, Inc.
Series T,
(fixed, converts to FRN on 09/15/26),
3.400%, due 09/15/262,10		304,000		262,075
Series S,
(fixed, converts to FRN on 11/01/26),
5.000%, due 11/01/262,10		22,000		20,810
(fixed, converts to FRN on 01/21/27),
5.300%, due 01/21/282		130,000		128,870
Series W,
(fixed, converts to FRN on 03/15/30),
6.250%, due 03/15/302,10		75,000		70,508
(fixed, converts to FRN on 10/20/33),
6.875%, due 10/20/342		85,000		90,220
Royal Bank of Canada
4.950%, due 04/25/25		140,000		139,135

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Banks—(continued)
Santander Holdings USA, Inc.
(fixed, converts to FRN on 01/06/27),
2.490%, due 01/06/282		1,200,000	$	1,087,364
(fixed, converts to FRN on 09/09/25),
5.807%, due 09/09/262		1,140,000		1,132,595
(fixed, converts to FRN on 03/09/28),
6.499%, due 03/09/292		1,145,000		1,153,883
Santander U.K. Group Holdings PLC
(fixed, converts to FRN on 01/10/28),
6.534%, due 01/10/292		100,000		101,864
(fixed, converts to FRN on 11/21/25),
6.833%, due 11/21/262		400,000		404,331
Skandinaviska Enskilda Banken AB
(fixed, converts to FRN on 05/13/25),
5.125%, due 05/13/252,8,10		200,000		194,240
5.375%, due 03/05/293		885,000		869,893
Societe Generale SA
(fixed, converts to FRN on 01/10/33),
6.691%, due 01/10/342,3		300,000		306,462
Standard Chartered PLC
(fixed, converts to FRN on 05/21/24),
3.785%, due 05/21/252,3		200,000		199,544
(fixed, converts to FRN on 07/06/26),
6.187%, due 07/06/272,3		100,000		100,539
State Street Corp.
(fixed, converts to FRN on 02/06/25),
1.746%, due 02/06/262		115,000		111,259
(fixed, converts to FRN on 03/30/25),
2.901%, due 03/30/262		80,000		77,830
(fixed, converts to FRN on 11/04/27),
5.820%, due 11/04/282		740,000		750,117
Sumitomo Mitsui Financial Group, Inc.
1.902%, due 09/17/28		200,000		171,961
2.632%, due 07/14/26		145,000		136,552
3.010%, due 10/19/26		50,000		47,098
Svenska Handelsbanken AB
5.250%, due 06/15/263		250,000		249,083
Toronto-Dominion Bank
3.766%, due 06/06/25		100,000		98,053
5.532%, due 07/17/26		85,000		85,061

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Banks—(continued)
Truist Financial Corp.
(fixed, converts to FRN on 06/06/27),
4.123%, due 06/06/282		1,720,000	$	1,642,715
Series Q,
(fixed, converts to FRN on 09/01/30),
5.100%, due 03/01/302,10		15,000		13,551
(fixed, converts to FRN on 01/26/33),
5.122%, due 01/26/342		200,000		186,355
(fixed, converts to FRN on 06/08/33),
5.867%, due 06/08/342		170,000		166,805
(fixed, converts to FRN on 10/28/32),
6.123%, due 10/28/332		770,000		768,949
Series L,
3 mo. USD Term SOFR + 3.364%,
8.693%, due 12/15/242,7,10		73,000		73,622
U.S. Bancorp
Series N,
(fixed, converts to FRN on 01/15/27),
3.700%, due 01/15/272,10		205,000		176,419
(fixed, converts to FRN on 02/01/33),
4.839%, due 02/01/342		200,000		184,556
(fixed, converts to FRN on 01/23/29),
5.384%, due 01/23/302		65,000		64,096
Wells Fargo & Co.
(fixed, converts to FRN on 10/30/24),
2.406%, due 10/30/252		400,000		393,136
(fixed, converts to FRN on 02/11/30),
2.572%, due 02/11/312		470,000		397,693
(fixed, converts to FRN on 06/17/26),
3.196%, due 06/17/272		200,000		189,998
(fixed, converts to FRN on 03/02/32),
3.350%, due 03/02/332		1,915,000		1,616,567
Series BB,
(fixed, converts to FRN on 03/15/26),
3.900%, due 03/15/262,10		60,000		56,909
(fixed, converts to FRN on 01/23/34),
5.499%, due 01/23/352		130,000		126,280
(fixed, converts to FRN on 07/25/28),
5.574%, due 07/25/292		200,000		199,361
(fixed, converts to FRN on 10/23/33),
6.491%, due 10/23/342		130,000		135,347
(fixed, converts to FRN on 09/15/28),
7.625%, due 09/15/282,7,10		50,000		52,282
Wells Fargo Bank NA
5.450%, due 08/07/26		100,000		99,948
5.550%, due 08/01/25		100,000		100,053

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Banks—(continued)
Westpac Banking Corp.
(fixed, converts to FRN on 11/18/31),
3.020%, due 11/18/362		240,000	$	192,916
5.512%, due 11/17/25		145,000		145,368
				60,931,696
Beverages: 0.2%
Constellation Brands, Inc.
4.800%, due 01/15/29		100,000		97,242
JDE Peet's NV
4.500%, due 01/23/348	EUR	200,000		215,567
Molson Coors Beverage Co.
4.200%, due 07/15/46		300,000		235,211
Suntory Holdings Ltd.
2.250%, due 10/16/243		200,000		196,634
				744,654
Biotechnology: 0.1%
Amgen, Inc.
5.750%, due 03/02/63		240,000		229,241
Regeneron Pharmaceuticals, Inc.
1.750%, due 09/15/30		300,000		239,509
				468,750
Building Materials: 0.1%
Builders FirstSource, Inc.
4.250%, due 02/01/323		15,000		13,065
6.375%, due 06/15/323		30,000		29,689
Camelot Return Merger Sub, Inc.
8.750%, due 08/01/283		30,000		29,493
Carrier Global Corp.
5.800%, due 11/30/25		200,000		200,369

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Building Materials—(continued)
EMRLD Borrower LP/Emerald Co.-Issuer, Inc.
6.625%, due 12/15/303		40,000	$	39,642
JELD-WEN, Inc.
4.875%, due 12/15/273,7		35,000		33,218
Knife River Corp.
7.750%, due 05/01/313		30,000		31,160
Masonite International Corp.
3.500%, due 02/15/303		50,000		43,813
5.375%, due 02/01/283		5,000		5,024
Miter Brands Acquisition Holdco, Inc./MIWD Borrower LLC
6.750%, due 04/01/323		15,000		14,897
Standard Industries, Inc.
3.375%, due 01/15/313		15,000		12,287
4.375%, due 07/15/303		20,000		17,713
4.750%, due 01/15/283		45,000		42,445
Summit Materials LLC/Summit Materials Finance Corp.
7.250%, due 01/15/313		15,000		15,410
				528,225
Chemicals: 0.1%
Avient Corp.
7.125%, due 08/01/303		40,000		40,471
Axalta Coating Systems Dutch Holding B BV
7.250%, due 02/15/313		20,000		20,397
INEOS Finance PLC
6.750%, due 05/15/283		30,000		29,476
7.500%, due 04/15/293,7		40,000		40,186

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Chemicals—(continued)
International Flavors & Fragrances, Inc.
2.300%, due 11/01/303		200,000	$	162,218
NOVA Chemicals Corp.
4.250%, due 05/15/293,7		15,000		12,555
5.250%, due 06/01/273		24,000		22,577
8.500%, due 11/15/283		20,000		21,021
Olympus Water U.S. Holding Corp.
4.250%, due 10/01/283,7		65,000		58,572
9.750%, due 11/15/283		15,000		15,917
Tronox, Inc.
4.625%, due 03/15/293		35,000		31,223
WR Grace Holdings LLC
4.875%, due 06/15/273		15,000		14,237
				468,850
Commercial services: 0.7%
ADT Security Corp.
4.125%, due 08/01/293		55,000		49,717
Allied Universal Holdco LLC
7.875%, due 02/15/313		25,000		25,055
Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 SARL
4.625%, due 06/01/283		20,000		17,964
APi Group DE, Inc.
4.125%, due 07/15/293		25,000		22,042
4.750%, due 10/15/293		20,000		18,169
Ashtead Capital, Inc.
5.500%, due 08/11/323		1,700,000		1,629,990

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Commercial services—(continued)
Boost Newco Borrower LLC
7.500%, due 01/15/313		45,000	$	46,444
Boost Newco Borrower LLC/GTCR W Dutch Finance Sub BV
8.500%, due 01/15/318	GBP	100,000		133,077
CoStar Group, Inc.
2.800%, due 07/15/303		200,000		166,032
Duke University
Series 2020,
2.682%, due 10/01/44		300,000		208,807
Emory University
Series 2020,
2.143%, due 09/01/30		200,000		167,422
HealthEquity, Inc.
4.500%, due 10/01/293		45,000		40,987
Herc Holdings, Inc.
5.500%, due 07/15/273		15,000		14,569
Korn Ferry
4.625%, due 12/15/273,7		60,000		56,896
Prime Security Services Borrower LLC/Prime Finance, Inc.
5.750%, due 04/15/263		80,000		78,994
6.250%, due 01/15/283		40,000		39,077
United Rentals North America, Inc.
5.250%, due 01/15/30		45,000		43,158
6.125%, due 03/15/343		25,000		24,410
Verisure Midholding AB
5.250%, due 02/15/298	EUR	100,000		102,718
Wand NewCo 3, Inc.
7.625%, due 01/30/323		40,000		40,664

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Commercial services—(continued)
Williams Scotsman, Inc.
7.375%, due 10/01/313		25,000	$	25,539
Worldline SA
4.125%, due 09/12/288	EUR	100,000		104,064
ZipRecruiter, Inc.
5.000%, due 01/15/303,7		20,000		17,594
				3,073,389
Computers: 0.1%
ASGN, Inc.
4.625%, due 05/15/283		55,000		51,326
Dell International LLC/EMC Corp.
5.850%, due 07/15/25		200,000		200,340
Presidio Holdings, Inc.
4.875%, due 02/01/273		65,000		64,882
				316,548
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		40,024
Distribution & wholesale: 0.0%†
H&E Equipment Services, Inc.
3.875%, due 12/15/283		20,000		17,698
Resideo Funding, Inc.
4.000%, due 09/01/293		40,000		35,075
Ritchie Bros Holdings, Inc.
6.750%, due 03/15/283		15,000		15,142
7.750%, due 03/15/313		25,000		25,928
Windsor Holdings III LLC
8.500%, due 06/15/303		25,000		26,038
				119,881

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Diversified financial services: 2.3%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust
3.300%, due 01/30/32		290,000	$	242,105
4.450%, due 04/03/26		200,000		195,348
5.100%, due 01/19/29		200,000		195,068
Ally Financial, Inc.
2.200%, due 11/02/28		200,000		169,179
Series C,
(fixed, converts to FRN on 05/15/28),
4.700%, due 05/15/282,10		104,000		80,480
5.750%, due 11/20/257		15,000		14,878
(fixed, converts to FRN on 01/03/29),
6.848%, due 01/03/302		1,285,000		1,298,363
American Express Co.
Series D,
(fixed, converts to FRN on 09/15/26),
3.550%, due 09/15/262,10		140,000		127,734
(fixed, converts to FRN on 07/28/33),
5.625%, due 07/28/342		100,000		97,857
(fixed, converts to FRN on 04/23/26),
5.645%, due 04/23/272		200,000		200,047
(fixed, converts to FRN on 10/30/25),
6.338%, due 10/30/262		200,000		201,596
Avolon Holdings Funding Ltd.
5.750%, due 03/01/293		200,000		196,928
Bread Financial Holdings, Inc.
9.750%, due 03/15/293		1,805,000		1,877,095

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Diversified financial services—(continued)
Brightsphere Investment Group, Inc.
4.800%, due 07/27/26		755,000	$	726,755
Capital One Financial Corp.
Series M,
(fixed, converts to FRN on 09/01/26),
3.950%, due 09/01/262,7,10		235,000		202,495
(fixed, converts to FRN on 05/10/27),
4.927%, due 05/10/282		1,700,000		1,659,202
(fixed, converts to FRN on 02/01/29),
5.700%, due 02/01/302		125,000		123,272
(fixed, converts to FRN on 06/08/33),
6.377%, due 06/08/342		45,000		45,293
Charles Schwab Corp.
Series H,
(fixed, converts to FRN on 12/01/30),
4.000%, due 12/01/302,10		256,000		208,352
Series G,
(fixed, converts to FRN on 06/01/25),
5.375%, due 06/01/252,10		15,000		14,833
GGAM Finance Ltd.
6.875%, due 04/15/293		15,000		14,986
Jane Street Group/JSG Finance, Inc.
7.125%, due 04/30/313		25,000		25,157
Lazard Group LLC
4.375%, due 03/11/29		100,000		94,111
LeasePlan Corp. NV
2.875%, due 10/24/243,7		200,000		197,385

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Diversified financial services—(continued)
Lehman Brothers Holdings, Inc.
0.000%, due 12/30/134,11		1,900,000	$	570
1.000%, due 01/24/1312		4,500,000		1,350
1.000%, due 12/30/49		900,000		270
Navient Corp.
Series A,
5.625%, due 01/25/25		100,000		99,593
OneMain Finance Corp.
3.500%, due 01/15/27		40,000		36,800
3.875%, due 09/15/28		45,000		39,610
7.125%, due 03/15/267		15,000		15,137
Oxford Finance LLC/Oxford Finance Co.-Issuer II, Inc.
6.375%, due 02/01/273		1,660,000		1,557,628
				9,959,477
Electric: 6.1%
Adani Electricity Mumbai Ltd.
3.949%, due 02/12/303		262,000		216,478
AES Corp.
2.450%, due 01/15/31		200,000		160,883
Alexander Funding Trust II
7.467%, due 07/31/283		1,475,000		1,538,951
Algonquin Power & Utilities Corp.
5.365%, due 06/15/26		200,000		197,911
Alliant Energy Finance LLC
5.950%, due 03/30/293		100,000		100,973
Ameren Corp.
5.000%, due 01/15/29		200,000		195,059

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Electric—(continued)
American Electric Power Co., Inc.
5.950%, due 11/01/32		195,000	$	197,032
Appalachian Power Co.
Series AA,
2.700%, due 04/01/31		200,000		164,662
Atlantica Sustainable Infrastructure PLC
4.125%, due 06/15/283		1,495,000		1,353,806
AusNet Services Holdings Pty. Ltd.
(fixed, converts to FRN on 09/11/26),
1.625%, due 03/11/812,7,8	EUR	100,000		98,445
Avangrid, Inc.
3.800%, due 06/01/29		1,600,000		1,459,486
Black Hills Corp.
2.500%, due 06/15/30		200,000		163,674
Calpine Corp.
3.750%, due 03/01/313		45,000		38,922
4.625%, due 02/01/293		43,000		39,499
5.000%, due 02/01/313		44,000		39,871
5.125%, due 03/15/283		30,000		28,457
CenterPoint Energy Houston Electric LLC
5.200%, due 10/01/28		200,000		199,339
Constellation Energy Generation LLC
6.125%, due 01/15/34		200,000		204,653
6.500%, due 10/01/53		50,000		51,894

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Electric—(continued)
Dominion Energy, Inc.
Series C,
2.250%, due 08/15/31		200,000	$	159,296
Series C,
(fixed, converts to FRN on 04/15/27),
4.350%, due 01/15/272,10		60,000		54,938
5.375%, due 11/15/32		270,000		262,650
DTE Energy Co.
5.100%, due 03/01/29		200,000		195,255
Duke Energy Florida LLC
5.950%, due 11/15/52		1,175,000		1,182,748
Duke Energy Progress LLC
2.000%, due 08/15/317		1,200,000		951,661
Edison International
Series B,
(fixed, converts to FRN on 03/15/27),
5.000%, due 12/15/262,10		235,000		220,831
Series A,
(fixed, converts to FRN on 03/15/26),
5.375%, due 03/15/262,10		1,810,000		1,733,971
Electricite de France SA
(fixed, converts to FRN on 12/06/28),
7.500%, due 09/06/282,8,10	EUR	200,000		232,586
Elia Group SA
(fixed, converts to FRN on 06/15/28),
5.850%, due 03/15/282,8,10		100,000		109,180
Enel Finance America LLC
7.100%, due 10/14/273		500,000		521,188

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Electric—(continued)
EPH Financing International AS
6.651%, due 11/13/288	EUR	200,000	$	219,598
Eversource Energy
5.500%, due 01/01/34		80,000		77,005
5.950%, due 02/01/29		100,000		101,141
Exelon Corp.
2.750%, due 03/15/27		200,000		185,150
5.150%, due 03/15/29		200,000		196,588
Georgia Power Co.
5.004%, due 02/23/27		200,000		198,152
Secured Overnight Financing Rate Index + 0.750%,
6.098%, due 05/08/252		200,000		200,776
Indianapolis Power & Light Co.
5.700%, due 04/01/543		65,000		61,708
IPALCO Enterprises, Inc.
4.250%, due 05/01/30		200,000		183,537
Leeward Renewable Energy Operations LLC
4.250%, due 07/01/293		25,000		20,690
MidAmerican Energy Co.
3.650%, due 04/15/29		1,400,000		1,299,814
Monongahela Power Co.
3.550%, due 05/15/273		1,800,000		1,701,013
National Rural Utilities Cooperative Finance Corp.
4.800%, due 03/15/28		100,000		98,349

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Electric—(continued)
Nevada Power Co.
Series GG,
5.900%, due 05/01/53		1,245,000	$	1,220,613
New York State Electric & Gas Corp.
2.150%, due 10/01/313		1,400,000		1,087,614
NextEra Energy Capital Holdings, Inc.
3.550%, due 05/01/27		1,700,000		1,606,933
5.749%, due 09/01/25		165,000		165,106
Niagara Mohawk Power Corp.
4.278%, due 12/15/283		300,000		280,699
NRG Energy, Inc.
3.625%, due 02/15/313		50,000		42,328
3.875%, due 02/15/323		3,000		2,528
5.250%, due 06/15/293		50,000		47,290
(fixed, converts to FRN on 03/15/28),
10.250%, due 03/15/282,3,10		40,000		43,125
Orsted AS
(fixed, converts to FRN on 12/08/28),
5.250%, due 12/31/992,8	EUR	200,000		216,401
Pacific Gas & Electric Co.
3.150%, due 01/01/26		100,000		95,602
3.400%, due 08/15/24		200,000		198,334
4.300%, due 03/15/45		425,000		317,078
5.550%, due 05/15/29		200,000		197,799
6.400%, due 06/15/33		200,000		203,505
6.950%, due 03/15/34		100,000		105,683

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Electric—(continued)
PacifiCorp
2.700%, due 09/15/30		100,000	$	84,430
5.100%, due 02/15/29		200,000		197,551
5.450%, due 02/15/34		90,000		86,421
Southern California Edison Co.
5.150%, due 06/01/29		200,000		196,806
5.850%, due 11/01/27		100,000		101,123
5.950%, due 11/01/32		775,000		788,420
Southern Co.
Series A,
3.700%, due 04/30/30		200,000		180,983
Series B,
(fixed, converts to FRN on 01/15/26),
4.000%, due 01/15/512		435,000		414,953
Southwestern Electric Power Co.
Series M,
4.100%, due 09/15/28		200,000		187,853
SSE PLC
(fixed, converts to FRN on 04/21/28),
4.000%, due 01/21/282,8,10	EUR	100,000		103,622
Vattenfall AB
(fixed, converts to FRN on 08/17/28),
6.875%, due 08/17/832,8	GBP	100,000		127,127
Vistra Operations Co. LLC
4.375%, due 05/01/293		25,000		22,761
5.000%, due 07/31/273		105,000		99,931
5.500%, due 09/01/263		10,000		9,759
6.875%, due 04/15/323		40,000		39,833
6.950%, due 10/15/333		1,125,000		1,172,262

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Electric—(continued)
WEC Energy Group, Inc.
1.800%, due 10/15/30		200,000	$	159,709
				26,422,002
Electrical components & equipment: 0.0%†
Energizer Holdings, Inc.
4.750%, due 06/15/283		30,000		27,259
6.500%, due 12/31/273,7		20,000		19,757
EnerSys
6.625%, due 01/15/323		25,000		24,897
WESCO Distribution, Inc.
6.375%, due 03/15/293		20,000		19,868
6.625%, due 03/15/323		20,000		19,906
				111,687
Electronics: 0.1%
EquipmentShare.com, Inc.
8.625%, due 05/15/323		5,000		5,087
Honeywell International, Inc.
4.125%, due 11/02/34	EUR	200,000		218,159
Imola Merger Corp.
4.750%, due 05/15/293		75,000		69,060
Sensata Technologies BV
4.000%, due 04/15/293		20,000		17,905
5.875%, due 09/01/303		35,000		33,767
TD SYNNEX Corp.
6.100%, due 04/12/34		210,000		208,542
TTM Technologies, Inc.
4.000%, due 03/01/293		15,000		13,416
				565,936
Energy-Alternate Sources: 0.3%
NextEra Energy Partners LP
2.500%, due 06/15/263,7		1,540,000		1,384,811

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Engineering & construction: 0.1%
Abertis Infraestructuras Finance BV
(fixed, converts to FRN on 02/24/26),
3.248%, due 11/24/252,8,10	EUR	200,000	$	207,021
Artera Services LLC
8.500%, due 02/15/313		30,000		30,698
Global Infrastructure Solutions, Inc.
5.625%, due 06/01/293		25,000		22,461
Sydney Airport Finance Co. Pty. Ltd.
3.375%, due 04/30/253		300,000		292,462
				552,642
Entertainment: 0.3%
Banijay Entertainment SASU
7.000%, due 05/01/298	EUR	100,000		111,802
8.125%, due 05/01/293		25,000		25,580
Caesars Entertainment, Inc.
6.500%, due 02/15/323		15,000		14,779
Churchill Downs, Inc.
6.750%, due 05/01/313		60,000		59,565
Cirsa Finance International SARL
7.875%, due 07/31/288	EUR	200,000		225,167
Light & Wonder International, Inc.
7.500%, due 09/01/313		20,000		20,397
Live Nation Entertainment, Inc.
4.750%, due 10/15/273		35,000		32,986
6.500%, due 05/15/273		25,000		25,049

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Entertainment—(continued)
Merlin Entertainments Group U.S. Holdings, Inc.
7.375%, due 02/15/313		20,000	$	20,094
Midwest Gaming Borrower LLC/Midwest Gaming Finance Corp.
4.875%, due 05/01/293		45,000		41,049
Raptor Acquisition Corp./Raptor Co.-Issuer LLC
4.875%, due 11/01/263		45,000		42,779
Six Flags Entertainment Corp.
7.250%, due 05/15/313		15,000		14,968
Six Flags Entertainment Corp./Six Flags Theme Parks, Inc.
6.625%, due 05/01/323,4		15,000		14,940
Six Flags Theme Parks, Inc.
7.000%, due 07/01/253		33,000		33,072
Warnermedia Holdings, Inc.
4.054%, due 03/15/29		300,000		273,655
5.141%, due 03/15/52		220,000		168,501
				1,124,383
Environmental control: 0.0%†
Enviri Corp.
5.750%, due 07/31/273		45,000		42,086
GFL Environmental, Inc.
6.750%, due 01/15/313		10,000		10,081
				52,167

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Food: 0.3%
Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC
4.625%, due 01/15/273		20,000	$	19,110
5.875%, due 02/15/283		20,000		19,599
6.500%, due 02/15/283		45,000		44,959
Bellis Acquisition Co. PLC
3.250%, due 02/16/268	GBP	200,000		245,559
Bimbo Bakeries USA, Inc.
5.375%, due 01/09/363		200,000		189,834
Campbell Soup Co.
5.400%, due 03/21/347		120,000		117,067
JBS USA Holding Lux SARL/ JBS USA Food Co./ JBS Lux Co. SARL
6.500%, due 12/01/52		45,000		42,599
Kroger Co.
5.400%, due 01/15/49		115,000		107,148
Performance Food Group, Inc.
4.250%, due 08/01/293		45,000		40,337
5.500%, due 10/15/273		40,000		38,719
Post Holdings, Inc.
6.250%, due 02/15/323		20,000		19,733
Sysco Corp.
6.600%, due 04/01/50		184,000		199,740
U.S. Foods, Inc.
4.625%, due 06/01/303		25,000		22,733
6.875%, due 09/15/283		15,000		15,128
7.250%, due 01/15/323		20,000		20,422
				1,142,687

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Food service: 0.0%†
Aramark Services, Inc.
5.000%, due 02/01/283		55,000	$	52,221
Gas: 0.2%
APA Infrastructure Ltd.
(fixed, converts to FRN on 02/09/29),
7.125%, due 11/09/832,8	EUR	100,000		113,657
National Fuel Gas Co.
2.950%, due 03/01/31		300,000		246,630
NiSource, Inc.
3.600%, due 05/01/30		200,000		180,098
Southern California Gas Co.
2.950%, due 04/15/27		100,000		93,457
Southwest Gas Corp.
4.050%, due 03/15/32		200,000		178,087
				811,929
Hand & machine tools: 0.1%
Regal Rexnord Corp.
6.400%, due 04/15/333		260,000		262,109
Healthcare-products: 0.1%
Medline Borrower LP
3.875%, due 04/01/293		125,000		111,979
Medline Borrower LP/Medline Co.-Issuer, Inc.
6.250%, due 04/01/293		30,000		29,808
Zimmer Biomet Holdings, Inc.
5.350%, due 12/01/28		200,000		199,121
				340,908
Healthcare-services: 0.6%
Acadia Healthcare Co., Inc.
5.000%, due 04/15/293		55,000		51,655
Centene Corp.
2.625%, due 08/01/31		300,000		240,042

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Healthcare-services—(continued)
CommonSpirit Health
6.073%, due 11/01/27		1,290,000	$	1,315,634
DaVita, Inc.
3.750%, due 02/15/313		15,000		12,343
4.625%, due 06/01/303		15,000		13,142
HCA, Inc.
3.125%, due 03/15/27		200,000		187,057
4.125%, due 06/15/29		49,000		45,530
5.500%, due 06/01/33		95,000		92,290
ICON Investments Six DAC
5.809%, due 05/08/274		200,000		200,098
IQVIA, Inc.
5.000%, due 10/15/263		40,000		39,122
Legacy LifePoint Health LLC
4.375%, due 02/15/273		15,000		14,048
LifePoint Health, Inc.
9.875%, due 08/15/303		10,000		10,413
Molina Healthcare, Inc.
3.875%, due 05/15/323		30,000		25,103
4.375%, due 06/15/283		30,000		27,824
Select Medical Corp.
6.250%, due 08/15/263		30,000		30,011
Tenet Healthcare Corp.
4.625%, due 06/15/28		35,000		32,936
6.250%, due 02/01/27		70,000		69,717
6.750%, due 05/15/313		55,000		55,109
UnitedHealth Group, Inc.
5.875%, due 02/15/53		185,000		188,363
				2,650,437

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Holding companies-divers: 0.0%†
Benteler International AG
10.500%, due 05/15/283		25,000	$	26,615
Home builders: 0.0%†
Beazer Homes USA, Inc.
7.500%, due 03/15/313		20,000		19,769
KB Home
4.000%, due 06/15/31		20,000		17,369
7.250%, due 07/15/30		30,000		30,709
Mattamy Group Corp.
4.625%, due 03/01/303		30,000		26,737
Shea Homes LP/Shea Homes Funding Corp.
4.750%, due 02/15/28		70,000		65,722
Thor Industries, Inc.
4.000%, due 10/15/293		5,000		4,323
				164,629
Household products: 0.0%†
Coty, Inc.
5.000%, due 04/15/263		20,000		19,614
6.500%, due 04/15/263		10,000		10,007
Edgewell Personal Care Co.
5.500%, due 06/01/283		25,000		24,124
				53,745
Insurance: 7.7%
Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer
4.250%, due 10/15/273		40,000		37,312
6.750%, due 04/15/283		70,000		69,926
7.000%, due 01/15/313		15,000		15,047

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Insurance—(continued)
AmWINS Group, Inc.
4.875%, due 06/30/293		30,000	$	27,272
6.375%, due 02/15/293		10,000		9,879
Athene Global Funding
2.550%, due 06/29/253		1,800,000		1,727,914
5.583%, due 01/09/293		200,000		198,136
5.684%, due 02/23/263		200,000		199,532
Athene Holding Ltd.
6.650%, due 02/01/33		1,555,000		1,606,753
Corebridge Financial, Inc.
4.350%, due 04/05/42		130,000		104,226
5.750%, due 01/15/34		95,000		93,323
(fixed, converts to FRN on 12/15/27),
6.875%, due 12/15/522		1,690,000		1,673,018
Corebridge Global Funding
5.750%, due 07/02/263		100,000		99,470
Enstar Finance LLC
(fixed, converts to FRN on 01/15/27),
5.500%, due 01/15/422		2,000,000		1,886,530
Enstar Group Ltd.
4.950%, due 06/01/29		1,850,000		1,754,956
Equitable Holdings, Inc.
4.350%, due 04/20/28		300,000		285,767
F&G Annuities & Life, Inc.
7.400%, due 01/13/28		2,715,000		2,790,236
Fidelity National Financial, Inc.
3.400%, due 06/15/30		200,000		173,308

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Insurance—(continued)
First American Financial Corp.
2.400%, due 08/15/31		1,645,000	$	1,271,449
GA Global Funding Trust
0.800%, due 09/13/243		1,400,000		1,373,011
Global Atlantic Fin Co.
7.950%, due 06/15/333		1,360,000		1,471,742
Howden U.K. Refinance PLC/Howden U.K. Refinance 2 PLC/Howden U.S. Refinance LLC
7.250%, due 02/15/313		20,000		19,744
HUB International Ltd.
7.250%, due 06/15/303		70,000		71,027
Intact Financial Corp.
5.459%, due 09/22/323		1,220,000		1,189,672
Liberty Mutual Group, Inc.
(fixed, converts to FRN on 12/15/26),
4.125%, due 12/15/512,3		110,000		100,121
MassMutual Global Funding II
Secured Overnight Financing Rate + 0.980%,
6.333%, due 07/10/262,3		200,000		201,790
Metropolitan Life Global Funding I
4.300%, due 08/25/293		2,240,000		2,108,211
5.000%, due 01/06/263		150,000		148,819
Mutual of Omaha Cos Global Funding
5.350%, due 04/09/273		250,000		247,699

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Insurance—(continued)
New York Life Global Funding
0.850%, due 01/15/263		125,000	$	115,665
Northwestern Mutual Global Funding
0.800%, due 01/14/263		53,000		49,002
4.350%, due 09/15/273		985,000		952,149
Pacific Life Global Funding II
5.500%, due 07/18/283		100,000		99,808
Panther Escrow Issuer LLC
7.125%, due 06/01/313		25,000		25,130
Principal Life Global Funding II
1.500%, due 11/17/263		145,000		131,495
Prudential Financial, Inc.
(fixed, converts to FRN on 02/28/32),
5.125%, due 03/01/522		70,000		64,577
(fixed, converts to FRN on 03/15/34),
6.500%, due 03/15/542		50,000		49,263
Reinsurance Group of America, Inc.
6.000%, due 09/15/33		1,445,000		1,451,039
RenaissanceRe Holdings Ltd.
3.600%, due 04/15/29		1,810,000		1,639,693
5.750%, due 06/05/33		2,105,000		2,051,880
RGA Global Funding
6.000%, due 11/21/283,7		200,000		203,183
SiriusPoint Ltd.
7.000%, due 04/05/29		1,025,000		1,022,488
Stewart Information Services Corp.
3.600%, due 11/15/31		2,000,000		1,628,465

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Insurance—(continued)
Swiss Re Finance Luxembourg SA
(fixed, converts to FRN on 04/02/29),
5.000%, due 04/02/492,3		3,400,000	$	3,255,500
				33,695,227
Internet: 0.1%
EquipmentShare.com, Inc.
9.000%, due 05/15/283,7		30,000		30,797
Expedia Group, Inc.
3.800%, due 02/15/28		200,000		187,568
6.250%, due 05/01/253		196,000		196,430
Gen Digital, Inc.
6.750%, due 09/30/273		25,000		25,093
7.125%, due 09/30/303,7		10,000		10,103
Match Group Holdings II LLC
4.625%, due 06/01/283		15,000		13,854
5.625%, due 02/15/293		25,000		23,781
Ziff Davis, Inc.
4.625%, due 10/15/303		68,000		59,146
				546,772
Investment companies: 1.5%
Blackstone Private Credit Fund
7.300%, due 11/27/283		1,975,000		2,028,335
Blue Owl Capital Corp.
2.875%, due 06/11/28		1,100,000		961,153
Blue Owl Credit Income Corp.
7.750%, due 09/16/27		950,000		970,172
FS KKR Capital Corp.
7.875%, due 01/15/29		2,390,000		2,459,786

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount1		Value
Corporate bonds—(continued)
Investment companies—(continued)
Golub Capital BDC, Inc.
7.050%, due 12/05/28		200,000	$	202,077
				6,621,523
Iron & steel: 0.1%
ATI, Inc.
4.875%, due 10/01/29		30,000		27,934
5.125%, due 10/01/31		20,000		18,222
7.250%, due 08/15/30		20,000		20,460
Carpenter Technology Corp.
7.625%, due 03/15/30		40,000		40,754
CSN Inova Ventures
6.750%, due 01/28/283		145,000		137,614
Metinvest BV
7.650%, due 10/01/273		25,000		17,250
7.750%, due 10/17/293		110,000		71,527
				333,761
Leisure time: 0.1%
Acushnet Co.
7.375%, due 10/15/283		10,000		10,266
Carnival Corp.
4.000%, due 08/01/283		25,000		22,851
5.750%, due 03/01/273		30,000		29,279
7.625%, due 03/01/263		25,000		25,155
Carnival Holdings Bermuda Ltd.
10.375%, due 05/01/283		55,000		59,635
Lindblad Expeditions LLC
6.750%, due 02/15/273		15,000		14,860
NCL Corp. Ltd.
5.875%, due 02/15/273		30,000		29,306
8.125%, due 01/15/293		15,000		15,622

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Leisure time—(continued)
Royal Caribbean Cruises Ltd.
5.500%, due 08/31/263		35,000	$	34,333
5.500%, due 04/01/283		45,000		43,801
7.500%, due 10/15/27		25,000		26,039
Viking Ocean Cruises Ship VII Ltd.
5.625%, due 02/15/293		10,000		9,569
VOC Escrow Ltd.
5.000%, due 02/15/283		10,000		9,537
				330,253
Lodging: 0.2%
Las Vegas Sands Corp.
3.200%, due 08/08/24		200,000		198,073
Marriott International, Inc.
5.550%, due 10/15/28		200,000		200,496
Melco Resorts Finance Ltd.
5.625%, due 07/17/273		105,000		99,094
Wyndham Hotels & Resorts, Inc.
4.375%, due 08/15/283		60,000		55,015
Wynn Macau Ltd.
5.500%, due 01/15/263		75,000		72,891
				625,569
Machinery-construction & mining: 0.0%†
Terex Corp.
5.000%, due 05/15/293		25,000		23,388
Vertiv Group Corp.
4.125%, due 11/15/283		35,000		32,414
				55,802
Machinery-diversified: 0.3%
ATS Corp.
4.125%, due 12/15/283		15,000		13,485

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited)

 

	Face amount1			Value
Corporate bonds—(continued)
Machinery-diversified—(continued)
CNH Industrial Capital LLC
5.500%, due 01/12/29			835,000	$	832,138
Esab Corp.
6.250%, due 04/15/293			20,000		19,925
Ingersoll Rand, Inc.
5.700%, due 08/14/33			25,000		24,831
TK Elevator Midco GmbH
4.375%, due 07/15/278		EUR	200,000		204,051
					1,094,430
Media: 0.7%
CCO Holdings LLC/CCO Holdings Capital Corp.
4.250%, due 02/01/313			15,000		11,740
4.250%, due 01/15/343			30,000		21,735
4.500%, due 08/15/303			45,000		36,569
4.500%, due 05/01/32			15,000		11,517
4.500%, due 06/01/333			15,000		11,280
4.750%, due 03/01/303			55,000		45,702
4.750%, due 02/01/323			40,000		31,457
6.375%, due 09/01/293			25,000		22,917
7.375%, due 03/01/313			1,300,000		1,233,616
Charter Communications Operating LLC/Charter Communications Operating Capital
2.250%, due 01/15/29			200,000		166,937
3.500%, due 06/01/41			200,000		127,961
3.900%, due 06/01/52			100,000		60,140
4.800%, due 03/01/50			565,000		395,307
Comcast Corp.
2.937%, due 11/01/56			405,000		236,343

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Media—(continued)
Discovery Communications LLC
4.650%, due 05/15/50		280,000	$	202,971
Fox Corp.
5.576%, due 01/25/49		310,000		275,212
6.500%, due 10/13/33		170,000		174,552
McGraw-Hill Education, Inc.
5.750%, due 08/01/283		30,000		27,821
Midcontinent Communications/Midcontinent Finance Corp.
5.375%, due 08/15/273		25,000		23,866
Paramount Global
(fixed, converts to FRN on 02/28/27),
6.250%, due 02/28/572		10,000		8,767
(fixed, converts to FRN on 03/30/27),
6.375%, due 03/30/622		10,000		9,249
Sirius XM Radio, Inc.
3.875%, due 09/01/313		25,000		20,106
4.125%, due 07/01/303		65,000		55,124
5.500%, due 07/01/293		5,000		4,641
				3,215,530
Mining: 0.1%
Alcoa Nederland Holding BV
7.125%, due 03/15/313		15,000		15,173
Arsenal AIC Parent LLC
8.000%, due 10/01/303		25,000		26,029
Corp. Nacional del Cobre de Chile
3.150%, due 01/14/303		125,000		107,774

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Mining—(continued)
FMG Resources August 2006 Pty. Ltd.
5.875%, due 04/15/303		25,000	$	24,034
6.125%, due 04/15/323		25,000		24,207
Hudbay Minerals, Inc.
4.500%, due 04/01/263		20,000		19,343
6.125%, due 04/01/293		50,000		48,942
				265,502
Miscellaneous manufacturers: 0.0%†
Hillenbrand, Inc.
6.250%, due 02/15/29		30,000		29,765
Office & business equipment: 0.0%†
CDW LLC/CDW Finance Corp.
3.569%, due 12/01/31		51,000		43,410
Oil & gas: 0.7%
Ascent Resources Utica Holdings LLC/ARU Finance Corp.
7.000%, due 11/01/263		50,000		49,925
Borr IHC Ltd./Borr Finance LLC
10.000%, due 11/15/283		20,000		20,705
10.375%, due 11/15/303		15,000		15,506
BP Capital Markets PLC
(fixed, converts to FRN on 06/22/26),
3.250%, due 03/22/262,8,10	EUR	200,000		207,457
Chesapeake Energy Corp.
6.750%, due 04/15/293		25,000		24,981
Civitas Resources, Inc.
8.375%, due 07/01/283		30,000		31,295
8.625%, due 11/01/303		10,000		10,641
8.750%, due 07/01/313		20,000		21,215

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Oil & gas—(continued)
Comstock Resources, Inc.
5.875%, due 01/15/303		25,000	$	22,769
6.750%, due 03/01/293		70,000		66,648
Continental Resources, Inc.
5.750%, due 01/15/313		200,000		195,798
Crescent Energy Finance LLC
7.625%, due 04/01/323		25,000		25,093
Diamond Foreign Asset Co./Diamond Finance LLC
8.500%, due 10/01/303		15,000		15,690
Diamondback Energy, Inc.
5.750%, due 04/18/54		65,000		62,053
6.250%, due 03/15/53		85,000		86,887
Ecopetrol SA
5.875%, due 05/28/45		65,000		46,150
FORESEA Holding SA
7.500%, due 06/15/308		20,272		18,813
Hilcorp Energy I LP/Hilcorp Finance Co.
5.750%, due 02/01/293		29,000		27,858
6.000%, due 04/15/303		30,000		28,725
6.000%, due 02/01/313		11,000		10,501
6.250%, due 11/01/283		15,000		14,779
8.375%, due 11/01/333		20,000		21,454
KazMunayGas National Co. JSC
5.750%, due 04/19/473		65,000		53,869
Medco Bell Pte. Ltd.
6.375%, due 01/30/273		55,000		53,436

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Oil & gas—(continued)
Nabors Industries, Inc.
7.375%, due 05/15/273		35,000	$	34,687
9.125%, due 01/31/303,7		25,000		25,780
Northern Oil & Gas, Inc.
8.125%, due 03/01/283		30,000		30,349
Permian Resources Operating LLC
7.000%, due 01/15/323		55,000		56,068
Pertamina Persero PT
6.450%, due 05/30/443		40,000		40,325
Petrobras Global Finance BV
6.500%, due 07/03/337		40,000		39,292
Petroleos Mexicanos
6.350%, due 02/12/48		85,000		52,222
6.750%, due 09/21/47		55,000		35,065
Pioneer Natural Resources Co.
5.100%, due 03/29/26		100,000		99,266
Range Resources Corp.
8.250%, due 01/15/29		30,000		31,257
Rockcliff Energy II LLC
5.500%, due 10/15/293		25,000		23,044
Southwestern Energy Co.
4.750%, due 02/01/32		40,000		36,023
Sunoco LP
7.000%, due 05/01/293		1,190,000		1,208,548
7.250%, due 05/01/323		5,000		5,078
				2,849,252
Oil & gas services: 0.0%†
Odebrecht Oil & Gas Finance Ltd.
0.000%, due 05/31/243,10,11		74,037		4,442
USA Compression Partners LP/USA Compression Finance Corp.
7.125%, due 03/15/293		20,000		19,872
				24,314
Packaging & containers: 0.1%
Ball Corp.
2.875%, due 08/15/30		15,000		12,526
6.000%, due 06/15/29		30,000		29,851
6.875%, due 03/15/28		15,000		15,236
Berry Global, Inc.
5.625%, due 07/15/273,7		30,000		29,258
Intelligent Packaging Ltd. Finco, Inc./Intelligent Packaging Ltd. Co.-Issuer LLC
6.000%, due 09/15/283		35,000		33,364
Mauser Packaging Solutions Holding Co.
7.875%, due 04/15/273		70,000		71,313
Pactiv Evergreen Group Issuer LLC/Pactiv Evergreen Group Issuer, Inc.
4.375%, due 10/15/283		50,000		46,015
Pactiv Evergreen Group Issuer, Inc./Pactiv Evergreen Group Issuer LLC
4.000%, due 10/15/273		5,000		4,639

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Packaging & containers—(continued)
Sealed Air Corp./Sealed Air Corp. U.S.
6.125%, due 02/01/283		25,000	$	24,695
Trivium Packaging Finance BV
5.500%, due 08/15/263		45,000		44,224
WRKCo, Inc.
4.650%, due 03/15/26		200,000		196,231
4.900%, due 03/15/297		100,000		97,486
				604,838
Pharmaceuticals: 0.9%
180 Medical, Inc.
3.875%, due 10/15/293		30,000		26,562
Bayer AG
(fixed, converts to FRN on 09/25/30),
5.375%, due 03/25/822,8	EUR	100,000		99,098
Bayer U.S. Finance LLC
6.125%, due 11/21/263		400,000		400,629
Cigna Group
4.375%, due 10/15/28		200,000		191,270
CVS Health Corp.
5.050%, due 03/25/48		575,000		490,472
CVS Pass-Through Trust
Series 2013, 4.704%, due 01/10/363		2,364,851		2,112,215
Pfizer Investment Enterprises Pte. Ltd.
4.750%, due 05/19/33		200,000		190,518
5.340%, due 05/19/63		110,000		100,910
Teva Pharmaceutical Finance Netherlands II BV
4.375%, due 05/09/30	EUR	200,000		203,987
Teva Pharmaceutical Finance Netherlands III BV
7.875%, due 09/15/29		20,000		21,063
				3,836,724

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Pipelines: 1.5%
Antero Midstream Partners LP/Antero Midstream Finance Corp.
5.375%, due 06/15/293		75,000	$	71,367
6.625%, due 02/01/323		20,000		19,940
7.875%, due 05/15/263		25,000		25,454
Buckeye Partners LP
4.500%, due 03/01/283		45,000		41,916
Cheniere Energy Partners LP
3.250%, due 01/31/32		200,000		167,093
CQP Holdco LP/BIP-V Chinook Holdco LLC
5.500%, due 06/15/313		90,000		82,704
7.500%, due 12/15/333		55,000		55,338
DT Midstream, Inc.
4.125%, due 06/15/293		105,000		95,169
Enbridge, Inc.
5.300%, due 04/05/29		200,000		197,694
Series NC5, (fixed, converts to FRN on 01/15/29),
8.250%, due 01/15/842		100,000		102,350
Energy Transfer LP
5.250%, due 04/15/297		200,000		196,871
5.950%, due 05/15/54		150,000		141,371
6.100%, due 12/01/28		200,000		203,823
Series A, 3 mo. USD Term SOFR +4.290%,
9.597%, due 05/16/242,7,10		3,190,000		3,190,297

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Pipelines—(continued)
EQM Midstream Partners LP
4.500%, due 01/15/293		30,000	$	27,757
5.500%, due 07/15/28		25,000		24,352
6.000%, due 07/01/253		15,000		14,975
6.500%, due 07/01/273		50,000		50,070
7.500%, due 06/01/273		20,000		20,377
7.500%, due 06/01/303		20,000		20,971
Genesis Energy LP/Genesis Energy Finance Corp.
6.250%, due 05/15/26		15,000		14,872
7.750%, due 02/01/28		30,000		29,993
8.000%, due 01/15/27		15,000		15,169
8.250%, due 01/15/29		20,000		20,282
8.875%, due 04/15/30		25,000		25,870
Harvest Midstream I LP
7.500%, due 09/01/283		25,000		25,069
7.500%, due 05/15/323		10,000		10,012
Kinder Morgan, Inc.
5.550%, due 06/01/45		100,000		91,727
7.750%, due 01/15/32		200,000		221,435
Kinetik Holdings LP
5.875%, due 06/15/303		45,000		43,509
MPLX LP
4.700%, due 04/15/48		378,000		308,708
5.000%, due 03/01/33		200,000		188,092
New Fortress Energy, Inc.
6.500%, due 09/30/263		30,000		28,688

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Pipelines—(continued)
NGL Energy Operating LLC/NGL Energy Finance Corp.
8.125%, due 02/15/293		10,000	$	10,159
8.375%, due 02/15/323		10,000		10,162
ONEOK, Inc.
5.650%, due 11/01/28		200,000		200,635
5.850%, due 01/15/26		200,000		200,761
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp.
5.500%, due 01/15/283		5,000		4,747
6.000%, due 03/01/273		30,000		29,222
6.000%, due 12/31/303		20,000		18,813
6.000%, due 09/01/313		15,000		13,926
7.375%, due 02/15/293		5,000		5,006
Venture Global Calcasieu Pass LLC
3.875%, due 08/15/293		100,000		88,353
Venture Global LNG, Inc.
8.125%, due 06/01/283		20,000		20,449
8.375%, due 06/01/313		20,000		20,524
9.500%, due 02/01/293		20,000		21,497
9.875%, due 02/01/323		20,000		21,342
Western Midstream Operating LP
6.350%, due 01/15/29		200,000		204,198
				6,643,109
Private Equity : 0.0%†
Carlyle Finance Subsidiary LLC
3.500%, due 09/19/293		200,000		180,492
Real estate: 0.1%
CBRE Services, Inc.
5.500%, due 04/01/29		200,000		197,540

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount1		Value
Corporate bonds—(continued)
Real estate—(continued)
Cushman & Wakefield U.S. Borrower LLC
8.875%, due 09/01/313,7		35,000	$	36,318
Greystar Real Estate Partners LLC
7.750%, due 09/01/303		30,000		30,900
Newmark Group, Inc.
7.500%, due 01/12/293		200,000		201,927
				466,685
Real estate investment trusts: 3.1%
American Homes 4 Rent LP
5.500%, due 02/01/34		45,000		43,391
Arbor Realty SR, Inc.
Series QIB,
8.500%, due 10/15/273		2,395,000		2,299,665
Blackstone Mortgage Trust, Inc.
3.750%, due 01/15/273		3,450,000		3,090,778
Federal Realty OP LP
5.375%, due 05/01/28		1,160,000		1,146,802
HAT Holdings I LLC/HAT Holdings II LLC
3.375%, due 06/15/263		1,900,000		1,765,895
Iron Mountain, Inc.
4.875%, due 09/15/293		45,000		41,525
5.000%, due 07/15/283		10,000		9,424
5.250%, due 07/15/303		20,000		18,563
5.625%, due 07/15/323		15,000		13,884
Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co.-Issuer
4.875%, due 05/15/293		50,000		45,752
5.875%, due 10/01/283		45,000		43,551

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount1		Value
Corporate bonds—(continued)
Real estate investment trusts—(continued)
RHP Hotel Properties LP/RHP Finance Corp.
4.750%, due 10/15/27		50,000	$	47,517
6.500%, due 04/01/323		25,000		24,502
7.250%, due 07/15/283		30,000		30,465
RLJ Lodging Trust LP
4.000%, due 09/15/293		50,000		43,365
SBA Tower Trust
6.599%, due 01/15/283		3,100,000		3,146,584
Scentre Group Trust 1/Scentre Group Trust 2
4.375%, due 05/28/303		1,715,000		1,605,473
Service Properties Trust
5.500%, due 12/15/27		30,000		28,307
8.625%, due 11/15/313		15,000		15,754
Simon Property Group LP
6.250%, due 01/15/34		55,000		56,859
Starwood Property Trust, Inc.
4.375%, due 01/15/273		20,000		18,522
7.250%, due 04/01/293		25,000		24,662
Uniti Group LP/Uniti Group Finance, Inc./CSL Capital LLC
4.750%, due 04/15/283		45,000		39,467
XHR LP
4.875%, due 06/01/293		40,000		36,510
				13,637,217
Retail: 0.4%
1011778 BC ULC/New Red Finance, Inc.
4.000%, due 10/15/303		35,000		30,183

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount1			Value
Corporate bonds—(continued)
Retail—(continued)
Asbury Automotive Group, Inc.
4.625%, due 11/15/293,7			25,000	$	22,605
Bath & Body Works, Inc.
6.625%, due 10/01/303			60,000		59,955
6.875%, due 11/01/35			20,000		19,867
Beacon Roofing Supply, Inc.
6.500%, due 08/01/303			25,000		24,957
Dufry One BV
3.375%, due 04/15/288		EUR	100,000		102,718
GYP Holdings III Corp.
4.625%, due 05/01/293			20,000		18,475
LCM Investments Holdings II LLC
4.875%, due 05/01/293			20,000		18,266
Macy's Retail Holdings LLC
4.500%, due 12/15/34			15,000		12,784
5.125%, due 01/15/42			5,000		4,209
5.875%, due 04/01/293			20,000		19,283
5.875%, due 03/15/303,7			1,122,000		1,069,481
6.125%, due 03/15/323			30,000		28,378
McDonald's Corp.
3.625%, due 09/01/49			130,000		92,997
PetSmart, Inc./PetSmart Finance Corp.
4.750%, due 02/15/283			25,000		23,071
Yum! Brands, Inc.
3.625%, due 03/15/317			20,000		17,283
5.375%, due 04/01/32			40,000		37,731
					1,602,243

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount1		Value
Corporate bonds—(continued)
Savings & loans: 0.1%
Nationwide Building Society
(fixed, converts to FRN on 02/16/27),
2.972%, due 02/16/282,3		200,000	$	184,937
(fixed, converts to FRN on 10/18/26),
6.557%, due 10/18/272,3		250,000		254,017
				438,954
Semiconductors: 0.8%
ams-OSRAM AG
12.250%, due 03/30/293		1,800,000		1,801,134
Broadcom, Inc.
3.137%, due 11/15/353		512,000		397,336
4.926%, due 05/15/373		268,000		244,743
Intel Corp.
5.600%, due 02/21/54		85,000		79,986
Marvell Technology, Inc.
5.950%, due 09/15/33		185,000		186,098
Micron Technology, Inc.
4.975%, due 02/06/26		200,000		197,824
NXP BV/NXP Funding LLC/NXP USA, Inc.
5.000%, due 01/15/33		415,000		394,428
ON Semiconductor Corp.
3.875%, due 09/01/283		15,000		13,612
				3,315,161
Shipbuilding: 0.0%†
Huntington Ingalls Industries, Inc.
2.043%, due 08/16/28		200,000		172,433
Software: 0.3%
Fiserv, Inc.
5.450%, due 03/15/34		200,000		195,482

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1			Value
Corporate bonds—(continued)
Software—(continued)
Oracle Corp.
2.875%, due 03/25/31			200,000	$	169,015
3.850%, due 04/01/60			200,000		133,124
3.950%, due 03/25/51			215,000		153,597
4.000%, due 11/15/47			345,000		253,196
4.650%, due 05/06/307			100,000		95,867
5.550%, due 02/06/53			210,000		193,000
UKG, Inc.
6.875%, due 02/01/313			50,000		50,095
ZoomInfo Technologies LLC/ZoomInfo Finance Corp.
3.875%, due 02/01/293			20,000		17,653
					1,261,029
Telecommunications: 1.1%
Altice France SA
5.875%, due 02/01/273		EUR	200,000		154,210
AT&T, Inc.
3.500%, due 09/15/53			275,000		181,298
British Telecommunications PLC
(fixed, converts to FRN on 12/20/28),
8.375%, due 12/20/832,8		GBP	230,000		303,690
C&W Senior Finance Ltd.
6.875%, due 09/15/273			45,000		42,446
Ciena Corp.
4.000%, due 01/31/303			15,000		13,155
Connect Finco SARL/Connect U.S. Finco LLC
6.750%, due 10/01/263			1,665,000		1,612,532

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1			Value
Corporate bonds—(continued)
Telecommunications—(continued)
Crown Castle Towers LLC
4.241%, due 07/15/283			81,000	$	76,138
Frontier Communications Holdings LLC
5.875%, due 10/15/273			60,000		57,549
8.750%, due 05/15/303			30,000		30,544
Iliad Holding SASU
5.625%, due 10/15/288		EUR	200,000		210,754
7.000%, due 10/15/283			30,000		29,330
Level 3 Financing, Inc.
10.500%, due 05/15/303			30,000		29,728
11.000%, due 11/15/293			25,000		25,512
Lorca Telecom Bondco SA
4.000%, due 09/18/278		EUR	200,000		207,891
Motorola Solutions, Inc.
2.300%, due 11/15/30			200,000		164,498
Oztel Holdings SPC Ltd.
6.625%, due 04/24/283			110,000		111,822
Rogers Communications, Inc.
3.800%, due 03/15/32			114,000		99,461
Telecom Italia SpA
7.875%, due 07/31/288		EUR	200,000		231,635
T-Mobile USA, Inc.
2.050%, due 02/15/28			100,000		88,405
2.550%, due 02/15/31			200,000		165,863
3.400%, due 10/15/52			370,000		244,460
4.500%, due 04/15/50			205,000		166,735

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1			Value
Corporate bonds—(continued)
Telecommunications—(continued)
Verizon Communications, Inc.
2.987%, due 10/30/56			210,000	$	123,778
Vmed O2 U.K. Financing I PLC
4.750%, due 07/15/313			45,000		37,556
Vodafone Group PLC
4.875%, due 06/19/49			275,000		232,920
(fixed, converts to FRN on 08/30/29),
6.500%, due 08/30/842,8		EUR	100,000		113,924
					4,755,834
Transportation: 0.1%
GN Bondco LLC
9.500%, due 10/15/313,7			100,000		96,032
MV24 Capital BV
6.748%, due 06/01/343			32,254		29,605
XPO, Inc.
7.125%, due 06/01/313			25,000		25,129
7.125%, due 02/01/323			50,000		50,290
					201,056
Trucking & leasing: 0.0%†
AerCap Global Aviation Trust
(fixed, converts to FRN on 06/15/25),
6.500%, due 06/15/452,3			10,000		9,942
Fortress Transportation & Infrastructure Investors LLC
7.000%, due 05/01/313			40,000		40,216
					50,158
Water: 0.1%
Solaris Midstream Holdings LLC
7.625%, due 04/01/263			20,000		20,078

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1			Value
Corporate bonds—(continued)
Water—(continued)
Thames Water Utilities Finance PLC
4.375%, due 01/18/318		EUR	100,000	$	92,132
Veolia Environnement SA
(fixed, converts to FRN on 02/22/29),
5.993%, due 11/22/282,8,10			100,000		111,244
					223,454
Total corporate bonds (cost—$218,078,616)					210,251,993
Loan assignments—7.0%
Aerospace & defense: 0.3%
Propulsion BC Finco SARL
3 mo. USD Term SOFR +3.750%,
9.058%, due 09/14/292			1,132,134		1,136,617
Airlines: 0.7%
American Airlines, Inc.
6 mo. USD Term SOFR +3.500%,
8.775%, due 06/04/292			1,700,000		1,704,964
United Airlines, Inc.
3 mo. USD Term SOFR +2.750%,
8.076%, due 02/22/312			1,525,000		1,529,285
					3,234,249
Chemicals: 0.3%
INEOS Enterprises Holdings U.S. Finco LLC
3 mo. USD Term SOFR +3.750%,
9.193%, due 07/08/302			1,336,650		1,337,064

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount1		Value
Loan assignments—(continued)
Commercial services: 0.9%
MPH Acquisition Holdings LLC
2021 Term Loan B,
3 mo. USD Term SOFR +4.250%,
9.855%, due 09/01/282		1,674,243	$	1,545,945
System One Holdings LLC
3 mo. USD Term SOFR +4.000%,
9.459%, due 03/02/282		1,376,404		1,379,845
Verscend Holding Corp.
2021 Term Loan B,
U.S. (Fed) Prime Rate +3.000%,
11.500%, due 08/27/252		1,088,215		1,088,488
				4,014,278
Diversified financial services: 0.4%
LendingTree, Inc.
1 mo. USD Term SOFR +3.750%,
9.180%, due 09/15/282		1,594,711		1,545,275
Electric: 0.0%†
Lightstone Holdco LLC
2022 Extended Term Loan B,
3 mo. USD Term SOFR +5.750%,
11.080%, due 01/29/272		88,421		85,326
2022 Extended Term Loan C,
3 mo. USD Term SOFR +5.750%,
11.080%, due 01/29/272		5,001		4,826
				90,152

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount1		Value
Loan assignments—(continued)
Environmental control: 0.3%
MIP V Waste Holdings LLC
3 mo. USD Term SOFR +3.250%,
8.841%, due 12/08/282		1,441,566	$	1,443,973
Health care products: 0.9%
Medline Borrower LP
1 mo. USD Term SOFR +2.750%,
8.068%, due 10/23/282		1,462,353		1,465,585
Sotera Health Holdings LLC
1 mo. USD Term SOFR +3.750%,
9.067%, due 12/11/262		2,436,587		2,441,168
				3,906,753
Healthcare-services: 0.3%
IQVIA, Inc.
3 mo. USD Term SOFR +2.000%,
7.309%, due 01/02/312		1,236,900		1,241,749
Pharmaceuticals: 0.4%
Jazz Financing Lux SARL
1 mo. USD Term SOFR +3.000%,
8.430%, due 05/05/282		1,533,729		1,542,364
Pipelines: 1.3%
AL NGPL Holdings LLC
3 mo. USD Term SOFR +3.750%,
8.556%, due 04/13/282		1,485,984		1,488,956
BCP Renaissance Parent LLC
3 mo. USD Term SOFR +3.500%,
8.829%, due 10/31/282		1,333,764		1,338,432

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Loan assignments—(continued)
Pipelines—(continued)
Medallion Midland Acquisition LLC
3 mo. USD Term SOFR +3.500%,
8.830%, due 10/18/282		1,157,100	$	1,161,081
UGI Energy Services LLC
1 mo. USD Term SOFR +3.250%,
8.666%, due 02/22/302		1,531,595		1,538,778
				5,527,247
Real estate investment trusts: 0.2%
Starwood Property Trust, Inc.
2022 Term Loan B,
1 mo. USD Term SOFR +3.250%,
8.566%, due 11/18/272		1,007,250		1,006,414
Software: 0.3%
Central Parent, Inc.
3 mo. USD Term SOFR +4.000%,
9.309%, due 07/06/292		1,488,750		1,494,035
Polaris Newco LLC
USD Term Loan B,
3 mo. USD Term SOFR +4.000%,
9.591%, due 06/02/282		9,848		9,782
				1,503,817
Telecommunications: 0.7%
Connect Finco SARL
0.000%, due 09/27/292,11		1,300,000		1,259,375
Iridium Satellite LLC
1 mo. USD Term SOFR +2.500%,
7.816%, due 09/20/302		1,392,661		1,393,093

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Loan assignments—(continued)
Telecommunications—(continued)
Lumen Technologies, Inc.
1 mo. USD Term SOFR +6.000%,
11.316%, due 06/01/282		428,952	$	362,464
				3,014,932
Total loan assignments (cost—$30,383,125)				30,544,884
Mortgage-backed securities—10.8%
Adjustable Rate Mortgage Trust,
Series 2005-5, Class 2A1,
5.252%, due 09/25/352		27,466		23,319
Banc of America Funding Trust,
Series 2005-D, Class A1,
5.206%, due 05/25/352		144,851		131,539
Bank,
Series 2021-BN38, Class C,
3.325%, due 12/15/642		51,000		37,723
Series 2022-BNK41, Class B,
3.917%, due 04/15/652		143,000		117,137
Series 2019-BN17, Class C,
4.661%, due 04/15/522		72,000		60,331
Bank of America Mortgage Trust,
Series 2002-G, Class 1A3,
5.750%, due 07/20/322		68		64
Bank5,
Series 2024-5YR5, Class B,
6.539%, due 02/15/292		86,000		86,126

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount1		Value
Mortgage-backed securities—(continued)
Series 2023-5YR3, Class C,
7.559%, due 09/15/562		91,000	$	92,685
BBCMS Mortgage Trust,
Series 2022-C17, Class XA,
1.325%, due 09/15/552		1,299,547		96,158
BCP Trust,
Series 2021-330N, Class A,
1 mo. USD Term SOFR +0.913%,
6.235%, due 06/15/382,3		500,000		474,765
Bear Stearns ALT-A Trust,
Series 2006-1, Class 21A2,
4.486%, due 02/25/362		253,174		172,025
Series 2004-9, Class 2A1,
4.607%, due 09/25/342		59,129		52,069
Series 2005-7, Class 22A1,
4.876%, due 09/25/352		242,732		140,089
Bear Stearns ARM Trust,
Series 2004-7, Class 1A1,
0.000%, due 10/25/342,11		86,141		70,089
Series 2004-6, Class 2A1,
3.923%, due 09/25/342		159,680		140,800
Series 2003-5, Class 2A1,
4.649%, due 08/25/332		36,425		32,912
Series 2004-3, Class 1A2,
4.738%, due 07/25/342		40,732		37,436
Series 2003-1, Class 6A1,
6.500%, due 04/25/332		3,097		3,035
Benchmark Mortgage Trust,
Series 2020-B19, Class AS,
2.148%, due 09/15/53		121,000		91,725
Series 2020-B19, Class B,
2.351%, due 09/15/53		47,000		33,841
Series 2020-B17, Class C,
3.371%, due 03/15/532		143,000		105,454
Series 2020-B16, Class C,
3.534%, due 02/15/532		118,000		90,918
Series 2020-IG2, Class UBRC,
3.626%, due 09/15/482,3		100,000		92,228
Series 2024-V5, Class D,
4.000%, due 01/10/573		21,000		16,520
Series 2019-B10, Class B,
4.180%, due 03/15/622		211,000		176,291
Series 2024-V6, Class C,
6.669%, due 03/15/29		64,000		63,167
Series 2024-V5, Class C,
7.205%, due 01/10/572		33,000		33,127
Series 2023-B40, Class C,
7.644%, due 12/15/562		87,000		90,221
BPR Trust,
Series 2022-OANA, Class D,
1 mo. USD Term SOFR +3.695%,
9.016%, due 04/15/372,3		224,786		224,364

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited)

 

	Face amount1		Value
Mortgage-backed securities—(continued)
BX Commercial Mortgage Trust,
Series 2021-VOLT, Class D,
1 mo. USD Term SOFR +1.764%,
7.086%, due 09/15/362,3		228,071	$	224,365
Series 2024-MF, Class C,
1 mo. USD Term SOFR +1.941%,
7.262%, due 02/15/392,3		162,000		160,886
Series 2024-XL5, Class D,
1 mo. USD Term SOFR +2.690%,
8.011%, due 03/15/412,3		157,556		157,162
Series 2023-XL3, Class D,
1 mo. USD Term SOFR +3.589%,
8.910%, due 12/09/402,3		100,000		100,719
BX Trust,
Series 2019-OC11, Class D,
4.076%, due 12/09/412,3		231,000		199,458
Series 2022-CLS, Class B,
6.300%, due 10/13/273		2,700,000		2,503,604
Series 2024-BIO, Class C,
1 mo. USD Term SOFR +2.640%,
7.961%, due 02/15/412,3		222,000		221,167
Series 2022-GPA, Class B,
1 mo. USD Term SOFR +2.664%,
7.985%, due 08/15/412,3		1,320,481		1,325,432
Series 2022-GPA, Class C,
1 mo. USD Term SOFR +3.213%,
8.534%, due 08/15/422,3		1,261,355		1,265,296
CAMB Commercial Mortgage Trust,
Series 2019-LIFE, Class D,
1 mo. USD Term SOFR +2.047%,
7.368%, due 12/15/372,3		127,000		126,762
Series 2019-LIFE, Class F,
1 mo. USD Term SOFR +2.847%,
8.168%, due 12/15/372,3		100,000		99,187
Chase Home Lending Mortgage Trust,
Series 2024-2, Class A6A,
6.000%, due 02/25/552,3		134,462		133,064
Series 2024-3, Class A6,
6.000%, due 02/25/552,3		202,541		199,697
Series 2024-4, Class A6,
6.000%, due 03/25/552,3		210,000		207,478
Chase Mortgage Finance Trust,
Series 2005-S3, Class A10,
5.500%, due 11/25/35		737,688		513,888
Series 2007-S6, Class 2A1,
5.500%, due 12/25/49		478,482		205,656
CHL Mortgage Pass-Through Trust,
Series 2005-HYB9, Class 5A1,
1 yr. USD Term SOFR +2.465%,
7.940%, due 02/20/362		84,520		75,016
Citigroup Commercial Mortgage Trust,
Series 2015-GC27, Class XA,
1.448%, due 02/10/482		2,639,038		14,810

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Mortgage-backed securities—(continued)
Series 2017-P8, Class C,
4.398%, due 09/15/502		68,000	$	59,505
Series 2023-SMRT, Class C,
6.048%, due 10/12/402,3		100,000		96,651
Series 2023-PRM3, Class C,
6.572%, due 07/10/282,3		100,000		98,472
Series 2023-PRM3, Class B,
6.572%, due 07/10/282,3		1,120,000		1,116,754
Citigroup Mortgage Loan Trust, Inc.,
Series 2005-4, Class A,
5.859%, due 08/25/352		54,670		53,124
Series 2005-6, Class A2,
1 yr. CMT +2.150%,
6.339%, due 09/25/352		5,165		5,000
Series 2005-6, Class A3,
1 yr. CMT +1.800%,
6.440%, due 09/25/352		681		658
Series 2005-11, Class A1A,
1 yr. CMT +2.400%,
7.410%, due 05/25/352		19,548		18,980
Cold Storage Trust,
Series 2020-ICE5, Class D,
1 mo. USD Term SOFR +2.214%,
7.534%, due 11/15/372,3		294,897		294,566
COMM Mortgage Trust,
Series 2014-UBS3, Class XA,
1.012%, due 06/10/472		1,443,944		31
Countrywide Alternative Loan Trust,
Series 2006-14CB, Class A1,
6.000%, due 06/25/36		1,158,614		624,065
Series 2006-41CB, Class 1A9,
6.000%, due 01/25/37		293,134		147,934
Series 2005-62, Class 2A1,
1 yr. MTA +1.000%,
6.089%, due 12/25/352		75,535		61,086
Series 2003-J3, Class 2A1,
6.250%, due 12/25/33		8,472		8,403
Countrywide Reperforming Loan REMICS Trust,
Series 2003-R4, Class 2A,
4.679%, due 01/25/342,3		356,159		294,439
Series 2006-R1, Class AF1,
1 mo. USD Term SOFR +0.454%,
5.771%, due 01/25/362,3		268,477		247,711
CRSO Trust
7.658%, due 07/10/282		1,130,000		1,148,376
CSAIL Commercial Mortgage Trust,
Series 2018-C14, Class C,
5.041%, due 11/15/512		39,000		32,007

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount1		Value
Mortgage-backed securities—(continued)
DC Commercial Mortgage Trust,
Series 2023-DC, Class B,
6.804%, due 09/12/403		860,000	$	866,077
DSLA Mortgage Loan Trust,
Series 2005-AR4, Class 2A1A,
1 mo. USD Term SOFR +0.634%,
5.953%, due 08/19/452		100,453		82,090
Eleven Madison Trust Mortgage Trust,
Series 2015-11MD, Class A,
3.673%, due 09/10/352,3		155,000		145,126
Federal Home Loan Mortgage Corp. Multiclass Certificates,
Series 2020-RR04, Class X,
2.126%, due 02/27/292		3,460,000		259,465
Federal Home Loan Mortgage Corp. REMICS,
Series 2764, Class LZ,
4.500%, due 03/15/34		195,189		189,125
Series 2921, Class PG,
5.000%, due 01/15/35		455,054		439,441
Series 2764, Class ZG,
5.500%, due 03/15/34		139,750		139,876
Series 2400, Class FQ,
30 day USD SOFR Average +0.614%,
5.945%, due 01/15/322		4,862		4,853
Series 2983, Class TZ,
6.000%, due 05/15/35		456,070		454,976
Series 3149, Class CZ,
6.000%, due 05/15/36		560,429		567,138
Federal Home Loan Mortgage Corp. STACR REMICS Trust,
Series 2021-DNA7, Class M2,
30 day USD SOFR Average +1.800%,
7.130%, due 11/25/412,3		130,000		130,914
Series 2022-DNA1, Class M2,
30 day USD SOFR Average +2.500%,
7.830%, due 01/25/422,3		417,000		423,708
Series 2022-DNA3, Class M1B,
30 day USD SOFR Average +2.900%,
8.230%, due 04/25/422,3		210,000		217,612
Series 2022-DNA4, Class M1B,
30 day USD SOFR Average +3.350%,
8.680%, due 05/25/422,3		436,000		456,547
Series 2021-DNA6, Class B1,
30 day USD SOFR Average +3.400%,
8.730%, due 10/25/412,3		200,000		206,342
Series 2022-DNA6, Class M1B,
30 day USD SOFR Average +3.700%,
9.030%, due 09/25/422,3		362,000		384,712

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited)

 

	Face amount1		Value
Mortgage-backed securities—(continued)
Series 2022-DNA2, Class M2,
30 day USD SOFR Average +3.750%,
9.080%, due 02/25/422,3		439,000	$	460,830
Series 2022-DNA5, Class M1B,
30 day USD SOFR Average +4.500%,
9.830%, due 06/25/422,3		192,000		207,691
Series 2022-HQA1, Class M2,
30 day USD SOFR Average +5.250%,
10.580%, due 03/25/422,3		383,000		414,360
Federal Home Loan Mortgage Corp. Structured Pass-Through Certificates,
Series T-54, Class 2A,
6.500%, due 02/25/43		308,596		305,313
Series T-58, Class 2A,
6.500%, due 09/25/43		143,195		141,406
Federal National Mortgage Association Connecticut Avenue Securities,
Series 2022-R01, Class 1M2,
30 day USD SOFR Average +1.900%,
7.230%, due 12/25/412,3		343,000		346,347
Series 2017-C06, Class 1M2,
30 day USD SOFR Average +2.764%,
8.095%, due 02/25/302		141,094		145,482
Series 2017-C06, Class 2M2,
30 day USD SOFR Average +2.914%,
8.245%, due 02/25/302		148,471		153,743
Series 2022-R04, Class 1M2,
30 day USD SOFR Average +3.100%,
8.430%, due 03/25/422,3		191,000		198,849
Series 2022-R01, Class 1B1,
30 day USD SOFR Average +3.150%,
8.480%, due 12/25/412,3		178,000		183,441
Series 2023-R02, Class 1M2,
30 day USD SOFR Average +3.350%,
8.680%, due 01/25/432,3		144,000		151,794
Series 2022-R03, Class 1M2,
30 day USD SOFR Average +3.500%,
8.830%, due 03/25/422,3		475,000		499,028
Series 2023-R01, Class 1M2,
30 day USD SOFR Average +3.750%,
9.080%, due 12/25/422,3		227,000		242,465
Series 2022-R08, Class 1B1,
30 day USD SOFR Average +5.600%,
10.930%, due 07/25/422,3		336,000		369,392
Federal National Mortgage Association REMICS,
Series 2006-65, Class GD,
6.000%, due 07/25/26		14,732		14,670
Series 2003-64, Class AH,
6.000%, due 07/25/33		585,831		589,016

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount1		Value
Mortgage-backed securities—(continued)
Federal National Mortgage Association REMICS Trust,
Series 1999-W4, Class A9,
6.250%, due 02/25/29		48,543	$	48,114
Federal National Mortgage Association Trust,
Series 2004-W8, Class 2A,
6.500%, due 06/25/44		157,589		156,819
First Horizon Mortgage Pass-Through Trust,
Series 2005-AR3, Class 2A1,
5.461%, due 08/25/352		7,862		5,418
FIVE Mortgage Trust,
Series 2023-V1, Class C,
6.507%, due 02/10/562		96,000		94,355
Government National Mortgage Association REMICS,
Series 2020-86, Class WK,
1.000%, due 06/20/50		224,798		163,477
Series 2020-107, Class AB,
1.000%, due 07/20/50		291,153		214,562
Series 2020-112, Class KA,
1.000%, due 08/20/50		236,589		173,708
Series 2021-119, Class NC,
1.500%, due 07/20/51		210,176		165,940
Series 2021-103, Class HE,
2.000%, due 06/20/51		207,557		165,408
Series 2018-38, Class WF,
1 mo. USD Term SOFR +0.414%,
5.743%, due 10/20/432		621,923		589,483
Series 2017-182, Class FW,
1 mo. USD Term SOFR +0.464%,
5.793%, due 05/20/472		210,151		197,994
Series 2015-H20, Class FB,
1 mo. USD Term SOFR +0.714%,
6.037%, due 08/20/652		622,010		618,673
Great Wolf Trust,
Series 2024-WOLF, Class D,
1 mo. USD Term SOFR +2.890%,
8.211%, due 03/15/392,3		110,000		109,863
GS Mortgage Securities Trust,
Series 2019-GC42, Class C,
3.826%, due 09/10/522		122,000		96,709
Series 2015-GS1, Class AS,
4.037%, due 11/10/482		169,000		153,360
Series 2016-GS2, Class C,
4.854%, due 05/10/492		70,000		64,723
GSR Mortgage Loan Trust,
Series 2005-AR6, Class 2A1,
5.063%, due 09/25/352		78,001		72,022
HarborView Mortgage Loan Trust,
Series 2005-4, Class 3A1,
4.312%, due 07/19/352		107,304		78,778

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount1		Value
Mortgage-backed securities—(continued)
Series 2004-11, Class 3A1A,
1 mo. USD Term SOFR +0.814%,
6.133%, due 01/19/352		14,586	$	13,056
Hilton USA Trust,
Series 2016-HHV, Class E,
4.333%, due 11/05/382,3		100,000		92,159
JP Morgan Chase Commercial Mortgage Securities Trust,
Series 2016-NINE, Class B,
2.949%, due 09/06/382,3		125,000		113,806
Series 2022-OPO, Class D,
3.565%, due 01/05/392,3		284,000		205,900
JP Morgan Mortgage Trust,
Series 2005-A8, Class 1A1,
5.019%, due 11/25/352		254,658		202,989
Series 2006-A4, Class 2A2,
5.251%, due 06/25/362		127,917		91,654
Series 2024-2, Class A6A,
6.000%, due 08/25/542,3		202,098		200,857
Series 2024-4, Class A6A,
6.000%, due 10/25/542,3		200,000		197,677
Series 2024-HE1, Class M1,
30 day USD SOFR Average +2.000%,
7.330%, due 08/25/542,3		47,000		47,234
Series 2024-HE1, Class M2,
30 day USD SOFR Average +2.400%,
7.730%, due 08/25/542,3		36,000		36,179

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount1		Value
Mortgage-backed securities—(continued)
Manhattan West Mortgage Trust,
Series 2020-1MW, Class D,
2.413%, due 09/10/392,3		100,000	$	84,939
MCR Mortgage Trust,
Series 2024-HTL, Class D,
1 mo. USD Term SOFR +3.905%,
9.226%, due 02/15/372,3		140,000		139,825
MED Commercial Mortgage Trust,
Series 2024-MOB, Class C,
1 mo. USD Term SOFR +2.291%,
7.601%, due 05/15/412		100,000		99,750
Med Trust,
Series 2021-MDLN, Class C,
1 mo. USD Term SOFR +1.914%,
7.236%, due 11/15/382,3		99,522		99,024
Series 2021-MDLN, Class F,
1 mo. USD Term SOFR +4.114%,
9.436%, due 11/15/382,3		217,954		217,409
Morgan Stanley Bank of America Merrill Lynch Trust,
Series 2017-C33, Class C,
4.558%, due 05/15/502		103,000		93,186
Morgan Stanley Capital I Trust,
Series 2017-H1, Class B,
4.075%, due 06/15/50		44,000		39,460
Series 2017-H1, Class C,
4.281%, due 06/15/502		123,000		108,641

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount1		Value
Mortgage-backed securities—(continued)
Series 2018-L1, Class AS,
4.637%, due 10/15/512		144,000	$	134,714
Series 2018-H4, Class C,
5.220%, due 12/15/512		80,000		69,726
MSWF Commercial Mortgage Trust,
Series 2023-2, Class D,
4.000%, due 12/15/563		10,000		6,940
Series 2023-1, Class C,
6.906%, due 05/15/562		73,000		69,409
Series 2023-2, Class C,
7.252%, due 12/15/562		32,000		32,444
MTN Commercial Mortgage Trust,
Series 2022-LPFL, Class A,
1 mo. USD Term SOFR +1.397%,
6.727%, due 03/15/392,3		2,650,000		2,608,594
NAAC Reperforming Loan REMICS Trust Certificates,
Series 2004-R3, Class A1,
6.500%, due 02/25/353		357,589		289,927
NYO Commercial Mortgage Trust,
Series 2021-1290, Class B,
1 mo. USD Term SOFR +1.659%,
6.981%, due 11/15/382,3		82,000		76,772
OAKST Commercial Mortgage Trust,
Series 2023-NLP, Class A,
6.298%, due 03/15/402,3		2,640,000		2,608,283
One Bryant Park Trust,
Series 2019-OBP, Class A,
2.516%, due 09/15/543		3,100,000		2,572,399
One Market Plaza Trust,
Series 2017-1MKT, Class A,
3.614%, due 02/10/323		73,045		66,261
ONE Mortgage Trust,
Series 2021-PARK, Class E,
1 mo. USD Term SOFR +1.864%,
7.186%, due 03/15/362,3		150,000		139,078
Onslow Bay Mortgage Loan Trust,
Series 2021-NQM4, Class A1,
1.957%, due 10/25/612,3		289,987		235,396
ORL Trust,
Series 2023-GLKS, Class D,
1 mo. USD Term SOFR +4.301%,
9.622%, due 10/19/362,3		128,000		128,280
RFMSI Trust,
Series 2004-S9, Class 1A23,
5.500%, due 12/25/34		147,495		131,662
SCOTT Trust,
Series 2023-SFS, Class A,
5.910%, due 03/15/403		1,125,000		1,113,174
Sequoia Mortgage Trust,
Series 2007-3, Class 1A1,
1 mo. USD Term SOFR +0.514%,
5.830%, due 07/20/362		38,761		33,176

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount1		Value
Mortgage-backed securities—(continued)
Series 2024-4, Class A10,
6.000%, due 05/25/542,3		239,000	$	236,834
SG Residential Mortgage Trust,
Series 2021-2, Class A1,
1.737%, due 12/25/612,3		464,055		370,250
Starwood Mortgage Residential Trust,
Series 2021-5, Class A1,
1.920%, due 09/25/662,3		945,395		756,448
Structured Adjustable Rate Mortgage Loan Trust,
Series 2004-8, Class 3A,
6.492%, due 07/25/342		125,255		118,363
Structured Asset Mortgage Investments II Trust,
Series 2006-AR3, Class 11A1,
1 mo. USD Term SOFR +0.534%,
5.851%, due 04/25/362		330,227		282,362
Structured Asset Mortgage Investments Trust,
Series 2002-AR3, Class A1,
1 mo. USD Term SOFR +0.774%,
6.093%, due 09/19/322		17,017		16,222
Taubman Centers Commercial Mortgage Trust,
Series 2022-DPM, Class C,
1 mo. USD Term SOFR +3.777%,
9.098%, due 05/15/372,3		150,000		150,187
Thornburg Mortgage Securities Trust,
Series 2007-4, Class 2A1,
3.938%, due 09/25/372		99,521		96,912
Towd Point Mortgage Trust,
Series 2022-4, Class A1,
3.750%, due 09/25/623		225,316		207,621
Verus Securitization Trust,
Series 2021-6, Class A1,
1.630%, due 10/25/662,3		870,671		720,496
Series 2021-6, Class A3,
1.887%, due 10/25/662,3		224,102		184,511
Series 2022-4, Class A3,
4.740%, due 04/25/672,3		112,704		104,923
WaMu Mortgage Pass-Through Certificates Trust,
Series 2006-AR2, Class 2A1,
3.909%, due 03/25/362		311,593		262,133
Series 2005-AR13, Class A1A1,
1 mo. USD Term SOFR +0.694%,
6.011%, due 10/25/452		168,752		160,640
Series 2006-AR9, Class 1A,
1 yr. MTA +1.000%,
6.089%, due 08/25/462		223,194		202,442
Series 2002-AR6, Class A,
1 yr. MTA +1.400%,
6.489%, due 06/25/422		4,738		4,299

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount1		Value
Mortgage-backed securities—(continued)
Wells Fargo Commercial Mortgage Trust,
Series 2016-NXS6, Class B,
3.811%, due 11/15/49		143,000	$	132,542
Series 2017-C39, Class C,
4.118%, due 09/15/50		76,000		65,421
Series 2015-NXS4, Class C,
4.841%, due 12/15/482		54,000		50,228
WFRBS Commercial Mortgage Trust,
Series 2014-C22, Class XA,
0.902%, due 09/15/572		4,752,707		3,400
WMRK Commercial Mortgage Trust,
Series 2022-WMRK, Class C,
1 mo. USD Term SOFR +4.083%,
9.404%, due 11/15/272,3		3,100,000		3,110,656
Total mortgage-backed securities (cost—$48,947,787)				47,025,672
Municipal bonds—0.3%
California: 0.0%†
Golden State Tobacco Securitization Corp., Revenue Bonds,
Series A-1,
3.714%, due 06/01/41		200,000		151,164
Illinois: 0.3%
Sales Tax Securitization Corp. Second Lien, Refunding, Revenue Bonds,
Series B,
3.057%, due 01/01/34		1,400,000		1,163,330

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount1		Value
Municipal bonds—(continued)
Texas: 0.0%†
Texas Natural Gas Securitization Finance Corp., Revenue Bonds,
Series 2023-1,Class A1
5.102%, due 04/01/35		97,004	$	95,979
Total municipal bonds (cost—$1,498,878)				1,410,473
Non-U.S. government agency obligations: 1.0%
Angola: 0.0%†
Angola Government International Bonds
8.750%, due 04/14/323		35,000		31,664
Brazil: 0.1%
Brazil Letras do Tesouro Nacional
0.000%, due 07/01/2411	BRL	800,000		151,629
Colombia: 0.0%†
Colombia Government International Bonds
3.000%, due 01/30/30		50,000		40,000
Dominican Republic: 0.0%†
Dominican Republic International Bonds
6.850%, due 01/27/453		110,000		104,672
El Salvador: 0.0%†
El Salvador Government International Bonds
9.500%, due 07/15/523		25,000		19,625
Guatemala: 0.0%†
Guatemala Government Bonds
3.700%, due 10/07/333		45,000		35,480
Indonesia: 0.1%
Indonesia Government International Bonds
4.625%, due 04/15/433		165,000		145,922

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount1		Value
Non-U.S. government agency obligations—(continued)
Israel: 0.1%
Israel Government International Bonds
5.500%, due 03/12/34		200,000	$	189,750
Japan: 0.1%
Japan Bank for International Cooperation
2.875%, due 07/21/27		300,000		279,917
Japan International Cooperation Agency
2.750%, due 04/27/27		300,000		279,094
				559,011
Mexico: 0.3%
Mexico Bonos
7.000%, due 09/03/26	MXN	7,400,000		399,453
8.500%, due 03/01/29		2,500,000		136,918
8.500%, due 05/31/29		500,000		27,354
Mexico Government International Bonds
3.500%, due 02/12/34		175,000		140,175
4.400%, due 02/12/52		175,000		126,109
Mexico Udibonos
2.750%, due 11/27/31		4,471,742		217,501
3.000%, due 12/03/26		975,660		51,883
4.000%, due 11/30/28		1,382,186		74,843
4.000%, due 08/24/34		406,525		21,097
				1,195,333
Mongolia: 0.0%†
Mongolia Government International Bonds
5.125%, due 04/07/263		55,000		53,109
Oman: 0.0%†
Oman Government International Bonds
7.000%, due 01/25/513		140,000		143,019

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (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	$	55,240
3.298%, due 01/19/33		100,000		74,656
				129,896
Paraguay: 0.0%†
Paraguay Government International Bonds
3.849%, due 06/28/333		40,000		33,837
4.950%, due 04/28/313		70,000		65,669
				99,506
Poland: 0.0%†
Republic of Poland Government International Bonds
5.125%, due 09/18/34		100,000		96,225
Qatar: 0.0%†
Qatar Government International Bonds
4.400%, due 04/16/503		60,000		49,800
Romania: 0.1%
Romania Government International Bonds
3.000%, due 02/14/318		104,000		84,911
3.625%, due 03/27/323		50,000		41,469
4.000%, due 02/14/513		60,000		40,200
5.375%, due 03/22/313	EUR	250,000		265,813
				432,393
Saudi Arabia: 0.1%
Saudi Government International Bonds
3.250%, due 11/17/513		120,000		75,450
3.750%, due 01/21/553		50,000		33,937
4.875%, due 07/18/333		200,000		191,530
5.000%, due 01/18/533		200,000		169,600
				470,517

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount1		Value
Non-U.S. government agency obligations—(continued)
South Africa: 0.0%†
Republic of South Africa Government International Bonds
5.650%, due 09/27/47		90,000	$	63,562
5.750%, due 09/30/49		45,000		31,950
				95,512
United Kingdom: 0.1%
U.K. Gilts
4.375%, due 07/31/548	GBP	365,000		425,619
Uruguay: 0.0%†
Uruguay Government International Bonds
5.100%, due 06/18/50		50,000		45,475
Total non-U.S. government agency obligations (cost $4,998,685)				4,514,157

	Number of shares
Preferred stocks: 0.3%
Capital markets: 0.3%
Trinity Capital, Inc. (cost—$1,250,000)		50,000	1,277,500

	Face amount1
U.S. government agency obligations: 11.1%
Federal Home Loan Mortgage Corp.
2.500%, due 02/01/51		90,073	71,372
2.500%, due 03/01/52		89,823	71,183
3.500%, due 04/01/52		93,890	80,908
3.500%, due 05/01/52		500,700	432,064
3.500%, due 07/01/52		78,034	67,417
3.500%, due 11/01/52		513,934	443,166
4.000%, due 09/01/52		230,871	206,430
4.000%, due 10/01/52		305,893	273,526
4.000%, due 11/01/52		486,164	434,696

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount1		Value
U.S. government agency obligations—(continued)
4.000%, due 01/01/53		283,118	$	253,146
4.500%, due 08/01/52		1,222,573		1,128,728
4.500%, due 09/01/52		454,105		419,058
4.500%, due 10/01/52		454,472		419,397
4.500%, due 01/01/53		235,429		217,062
5.000%, due 10/01/52		224,153		212,974
5.000%, due 11/01/52		303,544		288,276
5.000%, due 12/01/52		435,956		413,876
5.000%, due 04/01/53		418,039		396,339
5.000%, due 05/01/53		713,165		676,192
5.500%, due 04/01/53		531,473		516,288
5.500%, due 07/01/53		848,651		824,359
5.500%, due 08/01/53		399,192		388,007
5.500%, due 10/01/53		197,878		192,121
6.000%, due 06/01/53		208,443		207,255
6.000%, due 07/01/53		440,941		437,000
6.000%, due 08/01/53		186,046		184,355
6.000%, due 10/01/53		313,238		310,390
7.645%, due 05/01/25		163,719		163,034
Federal Home Loan Mortgage Corp. STACR REMICS Trust
30 day USD SOFR Average +2.000%,
7.330%, due 03/25/442,3		210,000		209,945
30 day USD SOFR Average +4.350%,
9.680%, due 04/25/422,3		111,000		118,493
Federal National Mortgage Association
2.500%, due 09/01/51		417,781		332,206
2.500%, due 10/01/51		490,923		390,109
2.500%, due 12/01/51		551,196		437,663
3.000%, due 02/01/52		1,004,796		834,501
3.000%, due 03/01/53		48,103		39,774
3.500%, due 05/01/52		285,749		246,227
3.500%, due 07/01/52		27,661		23,865
3.500%, due 08/01/52		96,081		82,795
3.750%, due 11/01/262,5,6		2,419		2,419
4.000%, due 06/01/52		584,509		523,526
4.000%, due 07/01/52		208,464		186,629
4.000%, due 10/01/52		88,579		80,239
1 yr. CMT +2.099%,
4.283%, due 05/01/302		10,755		10,605
4.500%, due 08/01/52		223,792		206,582
4.500%, due 09/01/52		723,349		667,489
4.500%, due 10/01/52		247,024		228,184
4.500%, due 01/01/53		237,392		218,938
4.500%, due 05/01/53		184,010		170,021
5.000%, due 10/01/52		278,115		264,050
5.000%, due 12/01/52		525,116		499,411
5.000%, due 02/01/53		459,623		436,319
5.000%, due 03/01/53		397,386		377,004
5.000%, due 04/01/53		432,412		410,295
5.000%, due 05/01/53		93,493		88,642
5.000%, due 06/01/53		669,805		635,047
5.000%, due 07/01/53		191,588		182,261

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount1		Value
U.S. government agency obligations—(continued)
5.188%, due 11/01/342		1,148,807	$	1,148,807
5.500%, due 01/01/53		430,276		418,448
5.500%, due 02/01/53		225,315		219,084
5.500%, due 03/01/53		60,698		58,966
5.500%, due 07/01/53		295,547		287,017
5.500%, due 09/01/53		300,069		291,348
5.500%, due 03/01/54		198,259		192,492
6 mo. USD RFUCCT +1.538%,
5.663%, due 01/01/362		2,491		2,493
1 yr. CMT +2.230%,
5.835%, due 04/01/272		2,931		2,929
1 yr. USD RFUCCT +1.603%,
5.978%, due 12/01/352		12,465		12,431
6.000%, due 06/01/53		414,101		410,655
6.000%, due 07/01/53		460,326		456,141
6.000%, due 08/01/53		46,433		46,011
6.000%, due 12/01/53		62,356		61,789
6.000%, due 02/01/54		134,246		133,373
1 yr. USD RFUCCT +1.780%,
6.030%, due 11/01/352		2,892		2,903
1 yr. USD RFUCCT +1.832%,
6.208%, due 03/01/362		13,677		13,715
1 yr. USD RFUCCT +1.912%,
6.287%, due 02/01/362		14,031		14,103

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount1		Value
U.S. government agency obligations—(continued)
1 yr. USD RFUCCT +1.815%,
6.323%, due 03/01/362		14,852	$	14,883
1 yr. CMT +2.405%,
6.655%, due 05/01/272		330		329
Government National Mortgage Association
1 yr. CMT +1.500%,
3.625%, due 07/20/252		256		252
1 yr. CMT +1.500%,
3.625%, due 01/20/262		405		399
1 yr. CMT +1.500%,
3.875%, due 05/20/262		1,203		1,184
5.000%, due 12/20/49		41,655		40,506
Uniform Mortgage-Backed Security, TBA
2.500%		1,100,000		870,233
3.500%		4,935,000		4,253,575
4.000%		6,675,000		5,968,567
4.500%		1,890,000		1,741,995
5.000%		4,520,000		4,284,869
5.500%		10,220,000		9,920,940
Total U.S. government agency obligations (cost—$49,586,629)				48,502,295
U.S. Treasury obligations: 9.5%
U.S. Treasury Bonds
1.375% due 08/15/50		6,445,000		3,144,707
1.625% due 11/15/50		2,000,000		1,045,156
2.250% due 08/15/49		100,000		62,070
2.375% due 02/15/42		600,000		420,680
2.875% due 08/15/45		500,000		365,547
2.875% due 05/15/49		200,000		142,117
3.000% due 11/15/44		500,000		376,289

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount1		Value
U.S. Treasury obligations—(continued)
3.000% due 02/15/49		200,000	$	145,844
3.000% due 08/15/52		2,400,000		1,732,781
3.250% due 05/15/42		11,000,000		8,835,664
3.625% due 02/15/53		10,400,000		8,497,125
3.875% due 02/15/43		300,000		262,066
3.875% due 05/15/43		900,000		784,863
4.375% due 08/15/43		400,000		373,563
U.S. Treasury Inflation-Indexed Bonds
0.125% due 02/15/51		119,171		65,826
0.750% due 02/15/45		395,271		286,125
1.000% due 02/15/46		261,886		197,435
1.000% due 02/15/49		123,298		90,306
1.500% due 02/15/53		417,504		338,021
U.S. Treasury Inflation-Indexed Notes
0.125% due 07/15/24		784,002		784,700
0.125% due 10/15/24		241,858		240,733
0.125% due 07/15/31		694,566		599,220
0.125% due 01/15/32		335,778		285,474
0.250% due 01/15/25		1,047,944		1,030,325
0.625% due 07/15/32		961,065		846,844
1.250% due 04/15/28		1,448,132		1,386,560
U.S. Treasury Notes
0.500% due 08/31/27		5,900,000		5,119,172
2.625% due 07/31/2913		700,000		632,242
4.125% due 03/31/29		3,250,000		3,165,195
4.250% due 12/31/2413		283,000		280,974
Total U.S. Treasury obligations (cost—$49,689,708)				41,537,624

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Number of shares		Value
Common stocks: 0.6%
Mortgage real estate investment: 0.6%
Ellington Financial, Inc.,Series C2,10 (cost—$3,025,000)		121,000	$	2,821,720
Exchange traded funds: 0.4%
Invesco Senior Loan ETF (cost—$1,676,021)		73,013		1,536,924

	Face amount1
Short-term investments—3.5%
Commercial paper: 0.8%
Alimentation Couche-Tard, Inc.,
5.540% due 05/13/243		250,000	249,538
Alimentation Couche-Tard, Inc.,
5.540% due 06/04/243		250,000	248,692
AT&T, Inc.,
5.600% due 06/25/243		250,000	247,861
AT&T, Inc.,
5.600% due 06/26/243		250,000	247,822
AutoNation, Inc.,
5.950% due 05/02/243		250,000	249,959
L3Harris Technologies, Inc.,
5.550% due 05/09/243		250,000	249,692
L3Harris Technologies, Inc.,
5.570% due 05/15/243		250,000	249,458
L3Harris Technologies, Inc.,
5.600% due 06/20/243		250,000	248,056
NextEra Energy Capital Holdings, Inc.,
5.600% due 06/05/243		250,000	248,639
Penske Truck Leasing Co. LP,
5.500% due 05/10/24		250,000	249,656

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount1		Value
Commercial paper—(continued)
Quanta Services, Inc.,
5.700% due 05/09/243		250,000	$	249,683
Rogers Communications, Inc.,
5.630% due 05/02/243		250,000		249,961
Rogers Communications, Inc.,
5.660% due 05/16/243		250,000		249,410
Southern California Edison Co.,
5.600% due 05/07/243		250,000		249,767
				3,488,194
Total commercial paper (cost—$3,488,194)				3,488,194

	Number of shares
Investment companies: 1.7%
State Street Institutional U.S. Government Money Market Fund, 5.248%14 (cost $7,616,974)		7,616,974	7,616,974

	Face amount
Short-term U.S. Treasury obligations—1.0%
U.S. Treasury Bills
5.220% due 07/25/2414	$	1,450,000	1,432,035
5.338% due 10/10/2414		1,300,000	1,269,705
5.378% due 07/11/2413,14		572,000	566,094
5.395% due 07/25/2414		900,000	888,844
Total short-term U.S. Treasury obligations (cost—$4,157,744)			4,156,678
Total short-term investments (cost—$15,262,912)			15,261,846

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Number of shares		Value
Investment of cash collateral from securities loaned—1.4%
Money market funds: 1.4%
State Street Navigator Securities Lending Government Money Market Portfolio, 5.290%14 (cost—$5,953,893)		5,953,893	$	5,953,893

	Number of contracts		Notional amount
Options Purchased: 0.0%†
Put options: 0.0%†
Call USD vs. Put GBP strike @ 1.200, expires 09/26/24 (Counterparty: GS)		200,000	USD	240,000		1,344
CDX.NA.IG.S42 strike @ 0.600, expires 09/18/24 (Counterparty: BNP)		1,800,000	USD	1,080,000		4,418
CDX.NA.IG.S42 strike @ 0.600, expires 09/18/24 (Counterparty: GSI)		300,000	USD	180,000		736
Total put options						6,498
Call options: 0.0%†
Call USD vs. Put CNH strike @ 7.275, expires 12/06/24 (Counterparty: BNP)		100,000	USD	728,000		1,052
Call USD vs. Put CNH strike @ 7.400, expires 12/06/24 (Counterparty: BNP)		100,000	USD	740,000		654
Call USD vs. Put CNH strike @ 7.375, expires 02/14/25 (Counterparty: HSBC)		100,000	USD	738,000		904
Call USD vs. Put CNH strike @ 7.325, expires 12/06/24 (Counterparty: BNP)		100,000	USD	733,000		869
Total call options						3,479
Total Options Purchased (cost—$55,368)						9,977
Swaptions Purchased: 0.0%†
Put swaptions: 0.0%†
30 Year USD SOFR Interest Rate Swap strike @ 3.920, expires 02/27/25 (Counterparty: GS; pay floating rate); underlying swap terminates 03/03/55		100,000	USD	100,000		5,967
Total swaptions purchased (cost—$4,370)						5,967
Total investments (cost—$501,574,052)15—110.6%						482,037,980
Liabilities in excess of other assets—(10.6)%						(46,313,803	)
Net assets—100.0%					$	435,724,177

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.

Options written

Notional amount		Number of contracts	Put options	Counterparty	Expiration date	Premiums received		Current Value			Unrealized appreciation (depreciation)
GBP	440,000	400,000	Call USD vs. Put GBP, strike @ 1.100	GS	09/26/24	$	4,100	$	(197	)	$	3,903
USD	2,880,000	3,600,000	CDX.NA.IG.S42, strike @ 0.800	BNP	09/18/24		4,080		(3,926	)		154
USD	480,000	600,000	CDX.NA.IG.S42, strike @ 0.800	GSI	09/18/24		1,080		(654	)		426
Total						$	9,260	$	(4,777	)	$	4,483

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

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	2,010	600,000	2 Year USD SOFR Interest Rate Swap strike @ 3.350 terminating 05/30/26	BNP	Pay	05/28/24	$	1,380	$	(1	)	$	1,379
USD	1,920	600,000	2 Year USD SOFR Interest Rate Swap strike @ 3.195 terminating 05/31/26	GS	Pay	05/29/24		1,320		(1	)		1,319
Total							$	2,700	$	(2	)	$	2,698

			Put Swaptions
USD	1,696	400,000	5 Year USD SOFR Interest Rate Swap @ strike 4.244 terminating 03/03/30	GS	Pay	02/27/25	$	4,600	$	(7,380	)	$	(2,780	)
Total swaptions written							$	7,300	$	(7,382	)	$	(82	)

Futures contracts

Number of contracts	Currency		Expiration date	Current notional amount			Value			Unrealized appreciation (depreciation)
Interest rate futures buy contracts:
12	CAD	Canadian Bond 10 Year Futures	June 2024	$	1,043,456		$	1,019,780		$	(23,676	)
U.S. Treasury futures buy contracts:
145	USD	U.S. Long Bond Futures	June 2024	$	17,121,513		$	16,502,813		$	(618,700	)
161	USD	U.S. Treasury Note 10 Year Futures	June 2024		17,728,185			17,297,438			(430,747	)
189	USD	U.S. Treasury Note 2 Year Futures	June 2024		38,635,324			38,302,031			(333,293	)
229	USD	U.S. Treasury Note 5 Year Futures	June 2024		24,457,141			23,985,961			(471,180	)
239	USD	Ultra U.S. Treasury Bond Futures	June 2024		30,126,401			28,575,437			(1,550,964	)
171	USD	Ultra U.S. Treasury Note 10 Year Futures	June 2024		19,408,002			18,847,406			(560,596	)
Total				$	148,520,022		$	144,530,866		$	(3,989,156	)
Interest rate futures sell contracts:
5	EUR	EURO BOBL 5 Year Index Future	June 2024	$	(627,952	)	$	(621,271	)	$	6,681
4	GBP	United Kingdom Long Gilt Bond Futures	June 2024		(497,579	)		(478,727	)		18,852
U.S. Treasury futures sell contracts:
230	USD	U.S. Treasury Note 5 Year Futures	June 2024	$	(24,539,356	)	$	(24,090,703	)	$	448,653
57	USD	U.S. Treasury Ultra Bond Futures	June 2024		(7,176,059	)		(6,815,063	)		360,996
43	USD	Ultra U.S. Treasury Note 10 Year Futures	June 2024		(4,880,103	)		(4,739,406	)		140,697
Total				$	(37,721,049	)	$	(36,745,170	)	$	975,879
Net unrealized appreciation (depreciation)										$	(3,013,277	)

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

Centrally cleared credit default swap agreements on credit indices—sell protection16
Referenced obligations	Notional amount (000)		Maturity date	Payment frequency	Payments received by the Portfolio17			Upfront payments received (made)			Value		Unrealized appreciation (depreciation)
iTraxx Europe Crossover S40	EUR	100	12/20/28	Quarterly		5.000	%	$	(15,092	)	$	19,169	$	4,077
iTraxx Europe Crossover S40	EUR	200	12/20/28	Quarterly		5.000			(29,856	)		38,365		8,509
Total								$	(44,948	)	$	57,534	$	12,586

Centrally cleared credit default swap agreements on corporate issues—sell protection16
Referenced obligations	Notional amount (000)		Maturity date	Payment frequency	Payments made by the Portfolio17			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	%	$	1,302		$	6,382	$	7,684
British Telecommunications PLC, 5.750%, due 06/20/28	EUR	100	06/20/28	Quarterly		1.000			(123	)		1,932		1,809
T-Mobile USA, Inc., 4.750%, due 06/20/28	USD	200	06/20/28	Quarterly		5.000			(28,513	)		35,412		6,899
Verizon Communications, Inc., 4.125%, due 06/20/28	USD	400	06/20/28	Quarterly		1.000			877			6,987		7,864
Verizon Communications, Inc., 4.125%, due 06/20/28	USD	100	12/20/28	Quarterly		1.000			219			1,724		1,943
Total								$	(26,238	)	$	52,437	$	26,199

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

Centrally cleared interest rate swap agreements

Notional amount (000)		Maturity date	Payment frequency	Payments made by the portfolio17		Payments received by the portfolio17			Value			Unrealized appreciation (depreciation)
AUD	500	09/20/33	Semi-annual	4.500	%		6Month AUD Bank Bill Swap		$	(3,749	)	$	3,428
AUD	300	03/20/34	Semi-annual	4.500			6Month AUD Bank Bill Swap			(2,624	)		5,685
CAD	1,100	06/01/32	Semi-annual	6 Month SOFR			3.500	%		13,473			22,530
CAD	300	12/20/33	Semi-annual	6 Month SOFR			3.750			2,282			3,430
EUR	200	03/09/33	Annual	2.547			6Month EURIBOR			(5,744	)		(5,744	)
EUR	2,300	09/18/34	Annual	2.750			6Month EURIBOR			(14,097	)		(43,436	)
EUR	1,000	09/18/54	Semi-annual	6 Month EURIBOR			2.500			1,374			44,820
JPY	140,000	09/20/43	Annual	12 Month JPY TONA			1.000			69,247			58,197
MXN	2,000	04/06/29	Monthly	9.430			28 day TIIE-Banxico			(1,447	)		(1,447	)
USD	1,700	10/18/24	Annual	12 Month SOFR			5.388			184			184
USD	1,600	05/31/25	Annual	12 Month SOFR			5.160			1,209			1,275
USD	800	12/18/25	Annual	12 Month SOFR			3.500			10,333			9,877
USD	400	05/31/28	Annual	12 Month SOFR			3.807			12,345			12,345
USD	200	06/20/29	Annual	12 Month SOFR			3.75			6,129			7,740
USD	100	10/31/30	Annual	12 Month SOFR			3.727			4,029			4,029
USD	100	10/31/30	Annual	12 Month SOFR			3.722			4,057			4,057
USD	200	10/31/30	Annual	12 Month SOFR			3.739			7,916			7,916
USD	100	10/31/30	Annual	12 Month SOFR			3.732			4,000			4,000
USD	300	06/15/32	Annual	12 Month SOFR			1.750			62,106			24,511
USD	1,200	06/21/33	Annual	12 Month SOFR			3.000			142,849			122,956
USD	1,800	08/15/33	Annual	12 Month SOFR			3.687			91,487			91,487
USD	700	08/15/33	Annual	12 Month SOFR			3.734			33,039			33,039
USD	300	08/15/33	Annual	12 Month SOFR			3.763			13,491			13,491
USD	200	08/15/33	Annual	12 Month SOFR			3.753			9,150			9,150

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

Notional amount (000)		Maturity date	Payment frequency	Payments made by the portfolio17		Payments received by the portfolio17			Value			Unrealized appreciation (depreciation)
USD	700	08/15/33	Annual	12 Month SOFR			3.717	%	$	33,975		$	33,975
USD	300	08/15/33	Annual	12 Month SOFR			3.745			13,909			13,909
USD	300	08/15/33	Annual	12 Month SOFR			3.754			13,697			13,697
USD	100	11/22/33	Annual	12 Month SOFR			4.250			1,046			1,046
USD	100	12/19/33	Annual	12 Month SOFR			3.950			3,406			3,406
USD	600	12/20/33	Annual	12 Month SOFR			3.500			42,440			39,449
USD	100	01/08/34	Annual	12 Month SOFR			3.648			5,797			5,797
USD	100	01/08/34	Annual	12 Month SOFR			3.670			5,613			5,613
USD	100	01/09/34	Annual	12 Month SOFR			3.594			6,227			6,227
USD	100	04/29/34	Annual	4.078	%		12Month SOFR			(1,900	)		(1,900	)
USD	300	02/18/35	Annual	12 Month SOFR			4.095			2,533			2,533
USD	1,800	06/20/54	Annual	12 Month SOFR			3.5			157,821			112,350
Total									$	745,603		$	669,622

OTC credit default swap agreements on corporate issues—sell protection¹⁶

Counterparty	Referenced obligations	Notional amount (000)		Maturity date	Payment frequency	Payments madeby the Portfolio17			Upfront payments received (made)			Value		Unrealized appreciation (depreciation)
JPMCB	Banco do Brasil SA, 4.625%, due 12/20/24	USD	100	12/20/24	Quarterly		(1.000	)	$	(785	)	$	318	$	1,103

Forward foreign currency contracts

Counterparty	Sell		Purchase		Settlement date	Unrealized appreciation (depreciation)
BB	USD	157,058	CNH	1,121,158	02/18/25	$	306
BB	GBP	125,000	USD	158,069	05/02/24		1,875
BB	USD	82,435	TRY	2,798,809	05/07/24		3,694
BB	USD	26,509	TRY	899,715	05/16/24		928
BB	USD	27,105	TRY	920,947	05/17/24		949

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

Counterparty	Sell		Purchase		Settlement date	Unrealized appreciation (depreciation)
BB	USD	23,763	TRY	817,697	05/23/24	$	984
BB	USD	23,774	TRY	817,977	06/05/24		638
BB	USD	68,352	TRY	2,349,328	06/07/24		1,615
BB	USD	41,938	TRY	1,435,989	06/11/24		649
BB	USD	33,327	TRY	1,142,815	06/13/24		495
BB	TWD	6,392,180	USD	206,000	06/20/24		8,610
BB	USD	97,194	MXN	1,651,000	06/20/24		(1,551	)
BB	USD	85,065	TRY	3,039,211	06/20/24		4,226
BB	USD	32,217	TRY	1,149,371	07/17/24		604
BNP	EUR	2,877,000	USD	3,067,978	05/02/24		(2,358	)
BNP	GBP	807,000	USD	1,006,711	05/02/24		(1,676	)
BNP	USD	737,977	AUD	1,136,000	05/02/24		(2,076	)
BNP	USD	1,287,861	GBP	1,029,000	05/02/24		(2,074	)
BNP	TWD	292,627	USD	9,473	05/20/24		469
BNP	GBP	1,029,000	USD	1,288,065	06/04/24		2,062
BNP	TWD	1,579,196	USD	51,024	06/20/24		2,258
BNP	USD	285,560	CNH	2,047,894	12/10/24		488
BOA	CNH	1,121,746	USD	157,058	02/18/25		(388	)
BOA	AUD	442,089	USD	289,811	05/02/24		3,426
CITI	CAD	166,000	USD	120,819	05/02/24		235
CITI	GBP	97,000	USD	122,477	05/02/24		1,270
CITI	JPY	7,200,000	USD	47,179	05/02/24		1,528
CITI	EUR	565,000	USD	609,652	05/08/24		6,566
CITI	USD	165,000	BRL	836,665	05/08/24		(3,972	)
CITI	USD	165,000	CLP	160,990,500	05/08/24		2,674
CITI	USD	218,519	JPY	33,000,000	05/08/24		(9,095	)
CITI	MXN	7,118,955	USD	419,078	05/14/24		4,237
CITI	AUD	15,000	USD	9,848	05/15/24		127
CITI	MXN	3,646,000	USD	216,117	06/20/24		4,903
CITI	USD	84,242	IDR	1,307,809,495	06/20/24		(3,907	)
CITI	EUR	2,010,825	USD	2,167,911	07/18/24		14,951
CITI	GBP	450,000	USD	565,827	07/18/24		3,291
CITI	JPY	384,930	USD	2,554	07/18/24		85
CITI	USD	2,915	HUF	1,062,600	07/18/24		(28	)
DB	BRL	1,139,025	USD	220,238	05/03/24		882
DB	USD	225,863	BRL	1,139,025	05/03/24		(6,507	)
DB	USD	175,417	BRL	882,079	07/02/24		(6,550	)
GS	BRL	1,140,439	USD	224,165	05/03/24		4,537
GS	USD	220,511	BRL	1,140,439	05/03/24		(883	)
GS	USD	6,937	TRY	239,052	05/10/24		401
GS	USD	14,385	TRY	497,520	05/13/24		837
GS	USD	29,857	TRY	1,032,957	05/14/24		1,712
GS	MXN	587,000	USD	35,023	06/20/24		1,018
GS	MYR	2,596,159	USD	556,208	06/20/24		10,564
GS	USD	36,438	TRY	1,296,520	06/25/24		1,457
GS	BRL	500,000	USD	100,947	07/02/24		5,227
GS	USD	224,165	BRL	1,149,966	08/02/24		(4,643	)
GSI	USD	162,097	HUF	59,279,750	05/08/24		(523	)
HSBC	AUD	693,911	USD	453,288	05/02/24		3,772

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

Counterparty	Sell		Purchase		Settlement date	Unrealized appreciation (depreciation)
HSBC	USD	207,185	AUD	316,000	06/04/24	$	(2,276	)
JPMCB	USD	22,491	TRY	757,486	05/06/24		839
JPMCB	USD	42,000	TRY	1,418,357	05/08/24		1,612
JPMCB	USD	26,654	TRY	909,648	05/16/24		1,086
JPMCB	CNH	53,000	USD	7,312	05/17/24		2
JPMCB	USD	19,194	TRY	655,552	05/20/24		710
JPMCB	USD	16,928	TRY	585,471	05/28/24		695
JPMCB	USD	15,545	TRY	540,400	05/31/24		669
JPMCB	MXN	452,000	USD	26,977	06/20/24		792
JPMCB	USD	139,205	IDR	2,198,506,892	06/20/24		(4,157	)
JPMCB	USD	431	MXN	7,319	06/20/24		(7	)
JPMCB	USD	59,419	TWD	1,827,360	06/20/24		(2,990	)
JPMCB	BRL	300,000	USD	60,389	07/02/24		2,957
JPMCB	CNH	2,048,865	USD	285,560	12/10/24		(623	)
Net unrealized appreciation (depreciation)						$	57,628

Fair valuation summary

The following is a summary of the fair valuations according to the inputs used as of April 30, 2024 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	$	2,821,720	$	—		$	—	$	2,821,720
Preferred stocks		1,277,500		—			—		1,277,500
Exchange traded funds		1,536,924		—			—		1,536,924
Asset-backed securities		—		69,022,111			2,360,944		71,383,055
Corporate bonds		—		210,251,993			—		210,251,993
Loan assignments		—		30,544,884			—		30,544,884
Mortgage-backed securities		—		47,025,672			—		47,025,672
Municipal bonds		—		1,410,473			—		1,410,473
Non-U.S. government agency obligations		—		4,514,157			—		4,514,157
U.S. government agency obligations		—		48,499,876			2,419		48,502,295
U.S. Treasury obligations		—		41,537,624			—		41,537,624
Short-term investments		—		7,616,974			—		7,616,974
Commercial paper		—		3,488,194			—		3,488,194
Short-term U.S. Treasury obligations		—		4,156,678			—		4,156,678
Options purchased		—		9,977			—		9,977
Investment of cash collateral from securities loaned		—		5,953,893			—		5,953,893
Swaptions Purchased		—		5,967			—		5,967
Futures contracts		975,879		—			—		975,879
Swap agreements		—		885,453			—		885,453
Forward foreign currency contracts		—		(929	)		—		(929	)
Total	$	6,612,023	$	474,922,997		$	2,363,363	$	483,898,383

PACE Strategic Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

Description	Unadjusted quoted prices in active market for identical investments (Level 1)			Other significant observable inputs (Level 2)			Unobservable inputs (Level 3)		Total
Liabilities
Options written	$	—		$	(4,777	)	$	—	$	(4,777	)
Swaptions written		—			(7,382	)		—		(7,382	)
Futures contracts		(3,989,156	)		—			—		(3,989,156	)
Swap agreements		—			(29,561	)		—		(29,561	)
Forward foreign currency contracts		—			58,557			—		58,557
Total	$	(3,989,156	)	$	16,837		$	—	$	(3,972,319	)

At April 30, 2024, 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	In U.S. dollars unless otherwise indicated.
2	Floating or variable rate securities. The rates disclosed are as of April 30, 2024. 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 $183,439,288, represented 42.1% of the Portfolios net assets at period end.
4	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.
5	Security fair valued by the Valuation Committee under the direction of the Board of Trustees.
6	Significant unobservable inputs were used in the valuation of this security; i.e. Level 3.
7	Security, or portion thereof, was on loan at the period end.
8	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.
9	Payment–in–kind security for which interest may be paid in cash or additional principal, at the discretion of the issuer.
10	Perpetual investment. Date shown reflects the next call date.
11	Rate shown reflects annualized yield at the period end on zero coupon bond.
12	Bond interest in default.
13	Security, or portion thereof, pledged as collateral for investments sold short, written options, futures and/or swap agreements.
14	Rates shown reflect yield at April 30, 2024.
15	Includes $7,268,091 of investments in securities on loan, at value plus accrued interest and dividends, if any. The Fund includes cash collateral of $5,953,893 and non-cash collateral of $1,474,045.
16	If the Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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.
17	Payments made or received are based on the notional amount.

PACE Municipal Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
Municipal bonds—98.5%
Alabama: 3.3%
County of Jefferson AL Sewer Revenue, Refunding, Revenue Bonds,
5.000%, due 10/01/32	$	1,000,000	$	1,114,334
5.000%, due 10/01/39		1,000,000		1,076,283
County of Jefferson AL Sewer Revenue, Revenue Bonds,
5.000%, due 10/01/38		750,000		813,039
5.250%, due 10/01/40		750,000		820,500
Lower Alabama Gas District, Gas Project, Revenue Bonds,
4.000%, due 12/01/501		2,500,000		2,497,606
				6,321,762
Arizona: 2.6%
Arizona Industrial Development Authority, Equitable School Revolving Fund LLC Obligated Group, Revenue Bonds,
Series A,
4.000%, due 11/01/35		2,000,000		2,018,195
Arizona Industrial Development Authority, Revenue Bonds,
Series 2019-2,Class A
3.625%, due 05/20/33		918,176		847,671
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		1,065,888
Salt Verde Financial Corp., Revenue Bonds,
5.000%, due 12/01/32		1,000,000		1,051,508
				4,983,262
Arkansas: 0.7%
City of Fort Smith AR Water & Sewer, Refunding, Revenue Bonds,
5.000%, due 10/01/34		1,320,000		1,407,602
California: 0.7%
California Housing Finance Agency, Revenue Bonds,
Series 2021-1,Class A
3.500%, due 11/20/35		1,430,324		1,321,549
Colorado: 1.4%
Colorado Health Facilities Authority, prerefunded, Revenue Bonds,
Series B,
5.000%, due 11/15/491		140,000		145,012
Colorado Health Facilities Authority, Refunding, Revenue Bonds,
Series B,
5.000%, due 11/15/491		1,360,000		1,401,252
Colorado Health Facilities Authority, Sisters of Charity of Leavenworth Health System, Inc., Refunding, Revenue Bonds,
Series A,
5.000%, due 01/01/30		1,000,000		1,098,890
				2,645,154

PACE Municipal Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
Municipal bonds—(continued)
Connecticut: 2.0%
State of Connecticut Special Tax, Revenue Bonds,
Series A,
4.000%, due 05/01/36	$	1,000,000	$	1,036,065
Series A,
4.000%, due 05/01/39		2,650,000		2,681,263
				3,717,328
District of Columbia: 2.2%
District of Columbia, Income Tax Revenue, Revenue Bonds,
Series A,
5.000%, due 07/01/41		1,500,000		1,646,459
Metropolitan Washington Airports Authority, Refunding, Revenue Bonds, AMT,
Series A,
5.000%, due 10/01/28		2,500,000		2,596,592
				4,243,051
Florida: 3.2%
Central Florida Expressway Authority Senior Lien, Revenue Bonds, AGM,
Series D,
5.000%, due 07/01/35		1,500,000		1,664,476
City of Jacksonville FL, Refunding, Revenue Bonds,
Series A,
5.000%, due 10/01/39		750,000		828,125
County of Polk FL Utility System, Refunding, Revenue Bonds,
5.000%, due 10/01/35		625,000		700,002
JEA Electric System, Refunding, Revenue Bonds,
Series 3A,
5.000%, due 10/01/34		1,630,000		1,783,160
Orange County Convention Center/Orlando, Refunding, Revenue Bonds,
Series B,
5.000%, due 10/01/30		1,000,000		1,034,704
				6,010,467
Georgia: 3.9%
City of Atlanta GA Water & Wastewater Revenue, Refunding, Revenue Bonds,
Series A,
5.000%, due 11/01/31		1,000,000		1,060,195
Fulton County Development Authority of Georgia, WellStar Health System, Revenue Bonds,
Series A,
5.000%, due 04/01/36		1,000,000		1,033,686
Georgia Ports Authority, Revenue Bonds,
5.000%, due 07/01/41		1,500,000		1,636,432
Main Street Natural Gas, Inc., Revenue Bonds,
Series A,
5.500%, due 09/15/28		1,500,000		1,564,031
Series C,
5.000%, due 09/01/531		1,000,000		1,052,891

PACE Municipal Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
Municipal bonds—(continued)
Georgia—(continued)
Municipal Electric Authority of Georgia, Plant Vogtle Unis 3&4 Project, Revenue Bonds,
Series A,
5.000%, due 01/01/33	$	1,000,000	$	1,055,372
				7,402,607
Hawaii: 0.6%
Hawaii Airports System, Revenue Bonds, AMT,
Series A,
5.000%, due 07/01/29		1,000,000		1,048,676
Illinois: 10.8%
Chicago Midway International Airport, Revenue Bonds,
Series C,
5.000%, due 01/01/34		1,500,000		1,647,713
Chicago O'Hare International Airport Senior Lien, Refunding, Revenue Bonds,
Series B,
5.000%, due 01/01/35		1,000,000		1,021,001
Chicago O'Hare International Airport, Refunding, Revenue Bonds, AMT,
Series A,
5.000%, due 01/01/29		2,500,000		2,510,452
Chicago Waterworks Second Lien, Refunding, Revenue Bonds, AGM,
Series 2017-2,
5.000%, due 11/01/31		1,000,000		1,051,355
Chicago Waterworks Senior Lien, Revenue Bonds,
Series A-1,
5.000%, due 11/01/29		1,920,000		1,981,021
City of Chicago IL Wastewater Transmission Revenue, Refunding, Revenue Bonds,
Series A,
5.000%, due 01/01/38		1,700,000		1,903,413
City of Chicago IL, Refunding, GO Bonds,
Series A,
4.000%, due 01/01/35		1,250,000		1,255,398
Illinois County of Cook Sales Tax, Refunding, Revenue Bonds,
5.000%, due 11/15/35		2,500,000		2,601,753
Illinois Municipal Electric Agency, Refunding, Revenue Bonds,
Series A,
5.000%, due 02/01/32		2,500,000		2,525,740
Regional Transportation Authority, Revenue Bonds,
6.500%, due 07/01/30		1,000,000		1,139,816
Sales Tax Securitization Corp. Second Lien, Refunding, Revenue Bonds,
Series A,
5.000%, due 01/01/36		1,770,000		1,901,857

PACE Municipal Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
Municipal bonds—(continued)
Illinois—(continued)
University of Illinois, Auxiliary Facilities System, Revenue Bonds,
Series A,
5.000%, due 04/01/30	$	1,000,000	$	1,000,277
				20,539,796
Indiana: 6.0%
Indiana Finance Authority First Lien, CWA Authority, Inc., Refunding, Revenue Bonds,
Series 1,
4.000%, due 10/01/36		2,020,000		2,074,878
Indiana Finance Authority, Indiana University Health Inc Obligated Group, Revenue Bonds,
Series B,
2.250%, due 12/01/581		5,250,000		5,152,189
Indiana Finance Authority, Marion County Capital Improvement Board, Refunding, Revenue Bonds,
Series A,
5.250%, due 02/01/35		1,000,000		1,016,654
Richmond Hospital Authority, Reid Hospital & Health Care Services, Inc., Refunding, Revenue Bonds,
Series A,
5.000%, due 01/01/30		2,055,000		2,062,713
Whiting City, BP Products North America, Inc., Revenue Bonds, AMT,
5.000%, due 11/01/471		1,000,000		1,001,260
				11,307,694
Iowa: 0.3%
Iowa Tobacco Settlement Authority, Refunding, Revenue Bonds,
Series A-2,Class 1
5.000%, due 06/01/33		500,000		538,913
Kentucky: 1.6%
Kentucky Public Energy Authority, Revenue Bonds,
Series A,
4.000%, due 12/01/501		1,000,000		992,074
Series A-1,
5.250%, due 04/01/541		2,000,000		2,113,740
				3,105,814
Louisiana: 2.3%
Jefferson Sales Tax District, Revenue Bonds, AGM,
Series B,
4.000%, due 12/01/32		1,895,000		1,952,577
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		1,506,794

PACE Municipal Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
Municipal bonds—(continued)
Louisiana—(continued)
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	$	951,863
				4,411,234
Massachusetts: 1.1%
Commonwealth of Massachusetts, GO Bonds,
Series D,
4.000%, due 05/01/34		2,000,000		2,054,110
Michigan: 1.8%
Michigan Finance Authority Prerefunded, Revenue Bonds,
5.000%, due 08/01/33		50,000		50,115
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		3,414,557
				3,464,672
Missouri: 1.1%
Missouri State Health & Educational Facilities Authority, Coxhealth, Refunding, Revenue Bonds,
Series A,
5.000%, due 11/15/34		2,000,000		2,016,543
Nebraska: 0.7%
Nebraska Public Power District, Refunding, Revenue Bonds,
Series A,
5.000%, due 01/01/31		1,300,000		1,388,770
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		527,951
New Jersey: 4.5%
New Jersey Health Care Facilities Financing Authority, Valley Health System, Revenue Bonds,
5.000%, due 07/01/33		1,000,000		1,074,485
New Jersey Transportation Trust Fund Authority, Transportation Program Notes, Revenue Bonds,
Series BB1,
5.000%, due 06/15/30		1,000,000		1,069,969
Tobacco Settlement Financing Corp., Refunding, Revenue Bonds,
Series A,
5.000%, due 06/01/34		6,000,000		6,323,094
				8,467,548

PACE Municipal Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
Municipal bonds—(continued)
New Mexico: 1.1%
New Mexico Educational Assistance Foundation, Refunding, Revenue Bonds,
Series 1A,
5.000%, due 09/01/28	$	2,000,000	$	2,084,564
New York: 7.1%
City Of New York NY, GO Bonds,
Series B, Subseries B-1,
5.250%, due 10/01/41		1,180,000		1,311,278
City of New York, Refunding, GO Bonds,
Series A-1,
5.000%, due 08/01/32		1,270,000		1,405,717
New York State Dormitory Authority, Personal Income Tax, Refunding, Revenue Bonds,
Series E,
4.000%, due 03/15/42		2,860,000		2,822,015
New York State Urban Development Corp., Revenue Bonds,
Series A,
4.000%, due 03/15/39		2,600,000		2,626,339
New York Transportation Development Corp., JFK International Air Terminal LLC, Revenue Bonds, AMT,
5.000%, due 12/01/35		2,000,000		2,157,774
5.000%, due 12/01/36		1,000,000		1,069,747
New York Transportation Development Corp., Laguardia Gateway Partners LLC, Revenue Bonds, AMT,
Series A-P3,
5.000%, due 07/01/34		1,000,000		1,000,342
TSASC, Inc., Refunding, Revenue Bonds,
Series A,
5.000%, due 06/01/34		1,000,000		1,036,300
				13,429,512
North Carolina: 0.9%
Charlotte NC Airport Revenue, Revenue Bonds,
Series B,
5.000%, due 07/01/36		1,540,000		1,679,802
Ohio: 2.8%
Ohio Water Development Authority Water Pollution Control Loan Fund, Revenue Bonds,
Series A,
5.000%, due 12/01/412		1,500,000		1,681,733
Ohio Water Development Authority, Revenue Bonds,
Series A,
5.000%, due 12/01/39		1,500,000		1,693,583

PACE Municipal Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
Municipal bonds—(continued)
Ohio—(continued)
State of Ohio, Cleveland Clinic Health System Obligated Group, Revenue Bonds,
Series C,
2.750%, due 01/01/521	$	1,980,000	$	1,913,763
				5,289,079
Oklahoma: 0.4%
Oklahoma Municipal Power Authority, Power Supply System, Revenue Bonds, AGM,
Series A,
4.000%, due 01/01/33		650,000		671,502
Pennsylvania: 8.5%
Allegheny County Hospital Development Authority, Allegheny Health Network Obligated Group, Refunding, Revenue Bonds,
Series A,
5.000%, due 04/01/29		3,190,000		3,348,583
Commonwealth Financing Authority, Tobacco Master Settlement Payment, Revenue Bonds,
5.000%, due 06/01/31		1,500,000		1,587,444
Pennsylvania Economic Development Financing Authority, The Penndot Major Bridges, Revenue Bonds,
5.000%, due 06/30/34		2,200,000		2,389,843
Pennsylvania Housing Finance Agency, Refunding, Revenue Bonds,
Series 134B,
5.000%, due 10/01/27		1,250,000		1,280,573
Pennsylvania Turnpike Commission, Motor License, Refunding, Revenue Bonds,
Series 2ND,
5.000%, due 12/01/33		1,500,000		1,575,313
Philadelphia Airport PA, Refunding, Revenue Bonds, AMT,
Series B,
5.000%, due 07/01/32		1,250,000		1,293,374
Philadelphia School District Prerefunded, GO Bonds,
Series F,
5.000%, due 09/01/30		10,000		10,379
Philadelphia School District, GO Bonds,
Series A,
4.000%, due 09/01/35		1,500,000		1,527,491
Series A,
5.000%, due 09/01/31		1,000,000		1,056,931
Southeastern Pennsylvania Transportation Authority,Revenue Bonds,
5.250%, due 06/01/40		1,750,000		1,950,115
				16,020,046

PACE Municipal Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
Municipal bonds—(continued)
Rhode Island: 1.8%
Rhode Island Health and Educational Building Corp., State of Rhode Island, Revenue Bonds,
4.000%, due 05/15/42	$	2,300,000	$	2,221,014
Rhode Island Student Loan Authority, Student Loan, Revenue Bonds, AMT,
Series A-SENIOR BONDS,
5.000%, due 12/01/30		1,125,000		1,192,337
				3,413,351
South Carolina: 0.8%
Piedmont Municipal Power Agency, Catawba Project Power Sales, Refunding, Revenue Bonds,
Series B,
4.000%, due 01/01/34		1,500,000		1,522,508
Tennessee: 4.0%
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		1,404,997
Metropolitan Government of Nashville & Davidson County TN, GO Bonds,
4.000%, due 07/01/33		1,500,000		1,534,603
Series C,
4.000%, due 01/01/32		3,000,000		3,163,366
Tennessee Energy Acquisition Corp., Revenue Bonds,
Series A,
5.250%, due 09/01/26		1,500,000		1,522,934
				7,625,900
Texas: 12.6%
Board of Regents of the University of Texas System, Refunding, Revenue Bonds,
Series A,
5.000%, due 08/15/372		1,000,000		1,147,462
Brazos Higher Education Authority, Inc., Student Loan Program, Revenue Bonds, AMT,
Series 1A,
5.000%, due 04/01/30		1,000,000		1,039,180
Central Texas Turnpike System, Refunding, Revenue Bonds,
Series C,
5.000%, due 08/15/31		2,000,000		2,005,092
City of El Paso TX, GO Bonds,
5.000%, due 08/15/34		2,000,000		2,052,174
Dayton Independent School District, GO Bonds,
4.000%, due 02/15/40		1,400,000		1,370,914

PACE Municipal Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
Municipal bonds—(continued)
Texas—(continued)
Garland Independent School District, GO Bonds,
Series A,
5.000%, due 02/15/42	$	2,000,000	$	2,177,442
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		1,760,146
Harris County-Houston Sports Authority Senior Lien, Refunding, Revenue Bonds,
Series A,
5.000%, due 11/15/29		1,000,000		1,004,664
Katy Independent School District, CIB, Refunding, GO Bonds,
Series A,
3.000%, due 02/15/32		2,375,000		2,295,991
Midland Independent School District, GO Bonds,
5.000%, due 02/15/37		1,680,000		1,897,779
North Texas Tollway Authority, North Texas Tollway System, Refunding, Revenue Bonds,
Series A,
5.000%, due 01/01/34		2,775,000		2,794,016
Plano Independent School District, GO Bonds,
5.000%, due 02/15/43		1,000,000		1,077,902
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		1,030,001
Texas Municipal Gas Acquisition & Supply Corp. IV, Revenue Bonds,
Series B,
5.500%, due 01/01/541		1,000,000		1,102,583
West Travis County Public Utility Agency, Refunding, Revenue Bonds, BAM,
5.000%, due 08/15/30		1,000,000		1,056,568
				23,811,914
Virginia: 0.5%
Virginia Small Business Financing Authority, Capital Beltway Express LLC, Refunding, Revenue Bonds,
5.000%, due 12/31/42		1,000,000		1,026,678
Washington: 3.7%
Energy Northwest, Refunding, Revenue Bonds,
Series A,
5.000%, due 07/01/35		1,250,000		1,422,026

PACE Municipal Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount		Value
Municipal bonds—(continued)
Washington—(continued)
Grant County Public Utility District No. 2 Electric Revenue, Refunding, Revenue Bonds,
Series R,
2.000%, due 01/01/441	$	1,000,000	$	973,339
Port of Seattle, Revenue Bonds, AMT,
Series C,
5.000%, due 04/01/32		1,000,000		1,001,738
State of Washington, GO Bonds,
Series B,
5.000%, due 02/01/43		1,000,000		1,094,883
State of Washington, Refunding, GO Bonds,
Series R-2022-C,
4.000%, due 07/01/36		1,500,000		1,568,527
Washington State Housing Finance Commission, Revenue Bonds,
Series A-1,
3.500%, due 12/20/35		956,672		869,590
				6,930,103
Wisconsin: 3.2%
City of Milwaukee WI, GO Bonds, AGM,
Series B4,
5.000%, due 04/01/35		2,000,000		2,210,076
Public Finance Authority KU, Campus Development Corp. project, University of Kansas, Revenue Bonds,
5.000%, due 03/01/34		1,500,000		1,535,779
Public Finance Authority, Duke Energy Progress LLC, Refunding, Revenue Bonds,
Series A-2,
3.700%, due 10/01/461		2,330,000		2,302,316
				6,048,171
Total municipal bonds (cost—$192,347,429)				186,477,633

	Number of shares
Short-term investments—0.6%
Investment companies: 0.6%
State Street Institutional U.S. Government Money Market Fund, 5.248%3 (cost $1,190,510)		1,190,510		1,190,510
Total investments (cost—$193,537,939)—99.1%				187,668,143
Other assets in excess of liabilities—0.9%				1,625,929
Net assets—100.0%			$	189,294,072

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 Municipal Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

Fair valuation summary

The following is a summary of the fair valuations according to the inputs used as of April 30, 2024 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	$	—	$	186,477,633	$	—	$	186,477,633
Short-term investments		—		1,190,510		—		1,190,510
Total	$	—	$	187,668,143	$	—	$	187,668,143

At April 30, 2024, there were no transfers in or out of Level 3.

Portfolio footnotes

1 Floating or variable rate securities. The rates disclosed are as of April 30, 2024. 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 April 30, 2024.

PACE Global Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Asset-backed securities: 0.9%
United States: 0.9%
Credit Acceptance Auto Loan Trust,
Series 2024-1A, Class A,
5.680%, due 03/15/342		571,000	$	567,960
GM Financial Automobile Leasing Trust,
Series 2024-1, Class A3,
5.090%, due 03/22/27		438,000		434,893
Tesla Auto Lease Trust,
Series 2024-A, Class A3,
5.300%, due 06/21/272		219,000		217,535
Toyota Lease Owner Trust,
Series 2024-A, Class A3,
5.250%, due 04/20/272		331,000		329,310
Total asset-backed securities
(cost—$1,558,796)				1,549,698
Corporate bonds: 38.6%
Australia: 1.8%
Glencore Funding LLC
6.375%, due 10/06/302		87,000		89,299
Santos Finance Ltd.
6.875%, due 09/19/332		310,000		318,603
Westpac Banking Corp.
1.079%, due 04/05/273	EUR	2,950,000		2,936,762
				3,344,664
Belgium: 0.1%
KBC Group NV
(fixed, converts to FRN on 03/05/29),
8.000%, due 09/05/283,4,5	EUR	200,000		226,247
Brazil: 0.2%
Braskem Netherlands Finance BV
4.500%, due 01/31/302		429,000		362,312
Canada: 4.3%
Bank of Montreal
0.125%, due 01/26/273	EUR	3,100,000		3,018,215
Enbridge, Inc.
5.300%, due 04/05/29		260,000		257,001

PACE Global Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Corporate bonds—(continued)
Canada—(continued)
(fixed, converts to FRN on 01/15/28),
7.375%, due 01/15/834		530,000	$	519,679
Toronto-Dominion Bank
0.864%, due 03/24/273	EUR	2,950,000		2,921,883
3.666%, due 09/08/313	EUR	1,000,000		1,092,769
				7,809,547
China: 0.4%
NXP BV/NXP Funding LLC/NXP USA, Inc.
2.500%, due 05/11/316		410,000		334,494
2.650%, due 02/15/32		42,000		33,940
3.400%, due 05/01/30		200,000		177,884
4.300%, due 06/18/29		196,000		185,059
5.000%, due 01/15/33		85,000		80,787
				812,164
Denmark: 0.8%
Danske Bank AS
(fixed, converts to FRN on 03/01/29),
5.705%, due 03/01/302,4		230,000		227,131
(fixed, converts to FRN on 06/21/29),
4.750%, due 06/21/303,4	EUR	350,000		386,188
(fixed, converts to FRN on 09/11/25),
1.621%, due 09/11/262,4		830,000		782,154
				1,395,473
France: 3.2%
BNP Paribas SA
(fixed, converts to FRN on 02/20/34),
5.738%, due 02/20/352,4		200,000		195,323
(fixed, converts to FRN on 05/20/29),
5.497%, due 05/20/302,4		210,000		206,473

PACE Global Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Corporate bonds—(continued)
France—(continued)
(fixed, converts to FRN on 08/16/29),
7.750%, due 08/16/292,4,5		625,000	$	630,258
BPCE SA
0.500%, due 02/24/273	EUR	100,000		97,339
4.375%, due 07/13/283	EUR	600,000		649,208
(fixed, converts to FRN on 01/18/26),
5.975%, due 01/18/272,4		820,000		818,479
(fixed, converts to FRN on 10/19/28),
6.714%, due 10/19/292,4,6		830,000		854,126
(fixed, converts to FRN on 10/19/33),
7.003%, due 10/19/342,4		250,000		262,986
Credit Agricole SA
(fixed, converts to FRN on 10/03/28),
6.316%, due 10/03/292,4		705,000		718,317
Electricite de France SA
6.900%, due 05/23/532		200,000		209,680
(fixed, converts to FRN on 06/01/28),
2.625%, due 12/01/273,4,5	EUR	200,000		193,296
Societe Generale SA
(fixed, converts to FRN on 01/10/28),
6.446%, due 01/10/292,4		540,000		546,965
TotalEnergies SE
(fixed, converts to FRN on 09/04/30),
2.000%, due 06/04/303,4,5	EUR	400,000		368,541
				5,750,991
Germany: 1.4%
Commerzbank AG
(fixed, converts to FRN on 04/09/26),
6.125%, due 10/09/253,4,5	EUR	400,000		419,410

PACE Global Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Corporate bonds—(continued)
Germany—(continued)
(fixed, converts to FRN on 12/05/25),
4.000%, due 12/05/303,4	EUR	800,000	$	843,500
Deutsche Bank AG
(fixed, converts to FRN on 11/20/28),
6.819%, due 11/20/294		185,000		190,137
RWE Finance U.S. LLC
5.875%, due 04/16/342		150,000		147,150
Volkswagen International Finance NV Series PNC5,
(fixed, converts to FRN on 09/06/28),
7.500%, due 09/06/283,4,5	EUR	300,000		344,344
Volkswagen Leasing GmbH
0.625%, due 07/19/293	EUR	200,000		181,456
Vonovia SE
0.625%, due 12/14/293	EUR	400,000		349,636
5.000%, due 11/23/303	EUR	100,000		110,284
				2,585,917
Indonesia: 0.1%
Perusahaan Perseroan Persero PT Perusahaan Listrik Negara
5.450%, due 05/21/283		202,000		198,764
Ireland: 3.2%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust
2.450%, due 10/29/26		350,000		323,376
3.300%, due 01/30/32		150,000		125,227
5.750%, due 06/06/28		175,000		174,848

PACE Global Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Corporate bonds—(continued)
Ireland—(continued)
AIB Group PLC
(fixed, converts to FRN on 04/04/27),
2.250%, due 04/04/283,4	EUR	500,000	$	507,537
Avolon Holdings Funding Ltd.
2.875%, due 02/15/252		385,000		373,140
4.250%, due 04/15/262		1,105,000		1,061,137
5.750%, due 03/01/292		1,100,000		1,083,104
6.375%, due 05/04/282		155,000		156,373
Bank of Ireland Group PLC
(fixed, converts to FRN on 06/05/25),
1.875%, due 06/05/263,4	EUR	800,000		834,129
(fixed, converts to FRN on 07/04/30),
5.000%, due 07/04/313,4	EUR	300,000		336,408
(fixed, converts to FRN on 09/16/25),
6.253%, due 09/16/262,4		310,000		310,612
SMBC Aviation Capital Finance DAC
5.300%, due 04/03/292		215,000		209,712
5.550%, due 04/03/342		255,000		244,133
				5,739,736
Italy: 1.4%
Enel Finance International NV
5.000%, due 06/15/322		400,000		376,415
5.500%, due 06/15/522		200,000		178,010
Intesa Sanpaolo SpA
5.250%, due 01/13/303	EUR	300,000		341,935
6.625%, due 06/20/332		405,000		408,007
7.000%, due 11/21/252		200,000		202,489
UniCredit SpA
0.850%, due 01/19/313	EUR	350,000		305,971

PACE Global Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Corporate bonds—(continued)
Italy—(continued)
(fixed, converts to FRN on 01/17/28),
4.800%, due 01/17/293,4	EUR	400,000	$	439,802
(fixed, converts to FRN on 06/03/26),
7.500%, due 06/03/263,4,5	EUR	200,000		219,043
				2,471,672
Netherlands: 0.4%
Cooperatieve Rabobank UA
(fixed, converts to FRN on 12/01/26),
0.375%, due 12/01/273,4	EUR	100,000		97,655
ING Groep NV
(fixed, converts to FRN on 11/16/26),
5.750%, due 11/16/264,5		580,000		547,418
				645,073
New Zealand: 0.6%
Westpac Securities NZ Ltd.
3.750%, due 04/20/283	EUR	1,039,000		1,117,714
Norway: 0.2%
Aker BP ASA
5.600%, due 06/13/282		205,000		204,444
6.000%, due 06/13/332		205,000		204,569
				409,013
Spain: 1.6%
Banco Bilbao Vizcaya Argentaria SA
(fixed, converts to FRN on 09/19/29),
9.375%, due 03/19/294,5		475,000		498,852
Banco Santander SA
6.607%, due 11/07/28		400,000		414,945
(fixed, converts to FRN on 05/21/29),
9.625%, due 11/21/284,5,6		400,000		419,246

PACE Global Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Corporate bonds—(continued)
Spain—(continued)
CaixaBank SA
(fixed, converts to FRN on 03/15/29),
5.673%, due 03/15/302,4		415,000	$	407,797
(fixed, converts to FRN on 04/09/28),
5.875%, due 10/09/273,4,5	EUR	400,000		415,675
(fixed, converts to FRN on 07/19/28),
5.000%, due 07/19/293,4	EUR	400,000		442,279
(fixed, converts to FRN on 09/13/33),
6.840%, due 09/13/342,4		230,000		237,701
				2,836,495
Switzerland: 0.1%
Holcim Finance Luxembourg SA
0.625%, due 01/19/333	EUR	300,000		243,902
United Kingdom: 4.8%
BAT Capital Corp.
4.540%, due 08/15/47		235,000		175,851
Eversholt Funding PLC
6.359%, due 12/02/253	GBP	301,000		380,119
Gatwick Funding Ltd.
6.125%, due 03/02/263	GBP	100,000		125,957
Heathrow Funding Ltd.
1.125%, due 10/08/303	EUR	300,000		269,521
6.450%, due 12/10/313	GBP	350,000		459,714
6.750%, due 12/03/263	GBP	478,000		613,171
HSBC Holdings PLC
(fixed, converts to FRN on 03/04/29),
5.546%, due 03/04/304		440,000		433,972
(fixed, converts to FRN on 03/23/28),
6.500%, due 03/23/284,5,6		480,000		458,442

PACE Global Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Corporate bonds—(continued)
United Kingdom—(continued)
(fixed, converts to FRN on 11/22/26),
2.251%, due 11/22/274		610,000	$	557,989
Lloyds Banking Group PLC
(fixed, converts to FRN on 08/07/26),
5.985%, due 08/07/274		240,000		240,352
NatWest Group PLC
(fixed, converts to FRN on 06/29/26),
6.000%, due 12/29/254,5		570,000		553,990
(fixed, converts to FRN on 09/06/27),
4.067%, due 09/06/283,4	EUR	505,000		542,243
(fixed, converts to FRN on 11/10/25),
7.472%, due 11/10/264		775,000		792,819
NGG Finance PLC
(fixed, converts to FRN on 09/05/27),
2.125%, due 09/05/823,4	EUR	143,000		139,256
RELX Finance BV
3.750%, due 06/12/313	EUR	300,000		323,045
Santander U.K. Group Holdings PLC
(fixed, converts to FRN on 11/21/25),
6.833%, due 11/21/264		814,000		822,814
Segro Capital SARL
1.250%, due 03/23/263	EUR	200,000		202,950
Standard Chartered PLC
(fixed, converts to FRN on 01/12/27),
2.608%, due 01/12/282,4		343,000		314,766
(fixed, converts to FRN on 02/08/27),
6.750%, due 02/08/282,4,6		819,000		836,723

PACE Global Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Corporate bonds—(continued)
United Kingdom—(continued)
(fixed, converts to FRN on 02/15/28),
7.750%, due 08/15/272,4,5		200,000	$	197,500
(fixed, converts to FRN on 09/23/26),
1.200%, due 09/23/313,4	EUR	200,000		194,822
				8,636,016
United States: 14.0%
AbbVie, Inc.
4.050%, due 11/21/39		81,000		68,626
4.950%, due 03/15/31		165,000		161,843
5.050%, due 03/15/34		160,000		156,029
5.400%, due 03/15/54		290,000		280,770
5.500%, due 03/15/64		195,000		188,010
AES Corp.
1.375%, due 01/15/26		460,000		425,975
Ameren Illinois Co.
5.900%, due 12/01/52		40,000		40,406
American Tower Corp.
3.100%, due 06/15/50		70,000		43,582
Amgen, Inc.6,
4.663%, due 06/15/51		130,000		108,330
Bank of America Corp.
(fixed, converts to FRN on 01/23/34),
5.468%, due 01/23/354		1,000		972
(fixed, converts to FRN on 04/25/28),
5.202%, due 04/25/294		325,000		319,970
(fixed, converts to FRN on 09/15/28),
5.819%, due 09/15/294		905,000		910,325

PACE Global Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Corporate bonds—(continued)
United States—(continued)
(fixed, converts to FRN on 10/20/31),
2.572%, due 10/20/324		311,000	$	250,888
Baxter International, Inc.
2.539%, due 02/01/326		370,000		296,434
Berry Global, Inc.
5.650%, due 01/15/342		130,000		125,553
Boeing Co.
5.805%, due 05/01/50		95,000		84,068
6.528%, due 05/01/342		75,000		75,540
6.858%, due 05/01/542		215,000		215,583
7.008%, due 05/01/642		120,000		120,109
BP Capital Markets PLC
(fixed, converts to FRN on 03/01/34),
6.450%, due 12/01/334,5		470,000		474,174
Broadcom, Inc.
3.419%, due 04/15/332		460,000		386,304
Cencora, Inc.
2.700%, due 03/15/31		61,000		51,093
2.800%, due 05/15/30		76,000		65,771
5.125%, due 02/15/34		410,000		396,129
CF Industries, Inc.
4.950%, due 06/01/43		159,000		136,169
Charter Communications Operating LLC/Charter Communications Operating Capital
2.250%, due 01/15/29		250,000		208,672
3.500%, due 06/01/41		505,000		323,101
3.700%, due 04/01/51		95,000		55,586
5.250%, due 04/01/536		180,000		135,118

PACE Global Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Corporate bonds—(continued)
United States—(continued)
Cheniere Energy Partners LP
3.250%, due 01/31/32		385,000	$	321,654
4.500%, due 10/01/29		440,000		411,682
Citigroup, Inc.
(fixed, converts to FRN on 02/13/29),
5.174%, due 02/13/304		580,000		567,219
(fixed, converts to FRN on 03/20/29),
3.980%, due 03/20/304		460,000		426,204
(fixed, converts to FRN on 05/01/31),
2.561%, due 05/01/324		210,000		170,970
Columbia Pipelines Operating Co. LLC
5.927%, due 08/15/302		65,000		65,111
6.036%, due 11/15/332		230,000		230,732
Comcast Corp.
2.937%, due 11/01/56		300,000		175,069
5.500%, due 11/15/32		430,000		432,133
ConocoPhillips Co.
5.050%, due 09/15/33		137,000		133,444
5.550%, due 03/15/54		130,000		125,603
Constellation Energy Generation LLC
5.750%, due 03/15/54		130,000		122,322
6.250%, due 10/01/39		175,000		176,041
6.500%, due 10/01/53		80,000		83,031
DTE Energy Co.
5.850%, due 06/01/34		218,000		216,768
Duke Energy Corp.
4.850%, due 01/05/29		290,000		281,772
Energy Transfer LP
5.550%, due 02/15/28		402,000		401,584

PACE Global Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Corporate bonds—(continued)
United States—(continued)
5.550%, due 05/15/34		160,000	$	155,710
5.750%, due 02/15/33		225,000		223,202
(fixed, converts to FRN on 05/15/29),
8.000%, due 05/15/544		440,000		453,111
EnLink Midstream LLC
6.500%, due 09/01/302		245,000		248,075
Entergy Arkansas LLC6,
5.150%, due 01/15/33		140,000		135,999
Enterprise Products Operating LLC
(fixed, converts to FRN on 02/15/28),
5.375%, due 02/15/784		74,000		68,532
FirstEnergy Transmission LLC
2.866%, due 09/15/282,6		210,000		187,735
Ford Motor Credit Co. LLC
4.867%, due 08/03/27	EUR	677,000		737,148
5.800%, due 03/08/29		270,000		265,332
General Electric Co.
4.125%, due 09/19/353	EUR	200,000		218,362
General Motors Financial Co., Inc.
5.550%, due 07/15/29		450,000		442,879
Goldman Sachs Group, Inc.
(fixed, converts to FRN on 04/25/29),
5.727%, due 04/25/304		345,000		345,562
(fixed, converts to FRN on 04/25/34),
5.851%, due 04/25/354		110,000		110,058

PACE Global Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Corporate bonds—(continued)
United States—(continued)
(fixed, converts to FRN on 05/01/28),
4.223%, due 05/01/294		665,000	$	631,003
(fixed, converts to FRN on 10/21/26),
1.948%, due 10/21/274		280,000		255,661
HCA, Inc.
3.500%, due 09/01/30		117,000		103,154
3.500%, due 07/15/51		190,000		123,298
4.625%, due 03/15/52		185,000		144,901
5.250%, due 06/15/49		10,000		8,653
ITC Holdings Corp.
2.950%, due 05/14/302		45,000		38,748
5.400%, due 06/01/332		370,000		358,885
JBS USA Holding Lux SARL/ JBS USA Food Co./ JBS Lux Co. SARL
7.250%, due 11/15/532		120,000		123,401
Jersey Central Power & Light Co.
2.750%, due 03/01/322		330,000		268,026
KeyCorp
(fixed, converts to FRN on 03/06/34),
6.401%, due 03/06/354		141,000		138,702
Kimco Realty OP LLC
6.400%, due 03/01/34		230,000		237,980
KLA Corp.
4.650%, due 07/15/32		310,000		296,218
Marvell Technology, Inc.
5.750%, due 02/15/29		67,000		67,310
5.950%, due 09/15/33		109,000		109,647

PACE Global Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Corporate bonds—(continued)
United States—(continued)
Meta Platforms, Inc.
4.450%, due 08/15/52		41,000	$	34,134
Monongahela Power Co.
5.850%, due 02/15/342		60,000		59,796
Morgan Stanley
(fixed, converts to FRN on 04/13/27),
5.652%, due 04/13/284		370,000		370,363
(fixed, converts to FRN on 04/18/29),
5.656%, due 04/18/304		405,000		405,086
(fixed, converts to FRN on 04/19/34),
5.831%, due 04/19/354		170,000		169,932
(fixed, converts to FRN on 07/20/28),
5.449%, due 07/20/294		655,000		650,994
(fixed, converts to FRN on 07/21/33),
5.424%, due 07/21/344		250,000		242,585
Netflix, Inc.
4.625%, due 05/15/29	EUR	700,000		776,713
Occidental Petroleum Corp.
4.625%, due 06/15/45		85,000		65,408
6.200%, due 03/15/40		50,000		49,482
Oracle Corp.
3.600%, due 04/01/50		160,000		108,216
Pacific Gas & Electric Co.
5.800%, due 05/15/34		265,000		258,747
6.150%, due 01/15/33		210,000		210,193
6.750%, due 01/15/53		143,000		147,427
6.950%, due 03/15/34		240,000		253,638

PACE Global Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Corporate bonds—(continued)
United States—(continued)
Pfizer Investment Enterprises Pte. Ltd.
5.300%, due 05/19/53		100,000	$	93,254
5.340%, due 05/19/63		120,000		110,083
Prologis Euro Finance LLC
1.000%, due 02/06/35	EUR	200,000		157,401
Prudential Financial, Inc.
(fixed, converts to FRN on 03/15/34),
6.500%, due 03/15/544		580,000		571,447
Public Service Enterprise Group, Inc.
5.450%, due 04/01/34		120,000		116,703
Realty Income Corp.
5.125%, due 07/06/34	EUR	100,000		113,377
Roche Holdings, Inc.
4.985%, due 03/08/342		200,000		194,006
San Diego Gas & Electric Co.
5.350%, due 04/01/53		170,000		157,176
Sempra
(fixed, converts to FRN on 04/01/27),
4.125%, due 04/01/524		300,000		271,280
Southern Co. Gas Capital Corp.
5.750%, due 09/15/33		100,000		100,472
Series 20-A, 1.750%, due 01/15/31		220,000		174,551
Take-Two Interactive Software, Inc.
4.950%, due 03/28/28		175,000		171,277
Texas Instruments, Inc.
5.000%, due 03/14/53		94,000		86,092

PACE Global Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Corporate bonds—(continued)
United States—(continued)
T-Mobile USA, Inc.
3.375%, due 04/15/29		320,000	$	290,388
U.S. Bancorp
(fixed, converts to FRN on 01/23/34),
5.678%, due 01/23/354		65,000		63,499
Verizon Communications, Inc.
1.750%, due 01/20/31		380,000		300,043
Virginia Electric & Power Co.
5.000%, due 01/15/34		180,000		171,091
Vistra Operations Co. LLC
3.700%, due 01/30/272		209,000		196,692
6.000%, due 04/15/342		65,000		63,182
Warnermedia Holdings, Inc.
4.279%, due 03/15/32		300,000		258,416
5.050%, due 03/15/42		355,000		284,182
Wells Fargo & Co.
(fixed, converts to FRN on 04/22/27),
5.707%, due 04/22/284		460,000		460,320
(fixed, converts to FRN on 07/25/33),
5.557%, due 07/25/344		106,000		103,323
(fixed, converts to FRN on 10/23/28),
6.303%, due 10/23/294		38,000		38,929
WPC Eurobond BV
1.350%, due 04/15/28	EUR	200,000		190,461
				25,484,120
Total corporate bonds
(cost—$70,459,525)				70,069,820

PACE Global Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Mortgage-backed securities: 2.6%
Spain: 0.2%
Fondo de Titulizacion de Activos Santander Hipotecario 2, Series 2, Class A,
3 mo. EUR EURIBOR + 0.150%,
4.054%, due 01/18/493,4	EUR	270,834	$	284,347
				284,347
United Kingdom: 0.5%
Gemgarto PLC, Series 2021-1A, Class A,
Sterling Overnight Index Average + 0.590%,
5.820%, due 12/16/672,4	GBP	184,351		230,132
Silverstone Master Issuer PLC, Series 2022-1A, Class 2A,
Sterling Overnight Index Average + 0.290%,
5.523%, due 01/21/702,4	GBP	600,000		747,578
				977,710
United States: 1.9%
Angel Oak Mortgage Trust, Series 2020-1, Class A1,
2.466%, due 12/25/592,4		74,050		69,599
Citigroup Commercial Mortgage Trust, Series 2015-GC33, Class B,
4.727%, due 09/10/584		470,000		429,495
CSAIL Commercial Mortgage Trust, Series 2016-C6, Class C,
5.082%, due 01/15/494		320,000		282,167

PACE Global Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Mortgage-backed securities—(continued)
United States—(continued)
Federal National Mortgage Association REMICS, Series 2021-86, Class T,
2.500%, due 09/25/48		1,604,946	$	1,363,003
GS Mortgage Securities Trust, Series 2017-GS6, Class C,
4.322%, due 05/10/504		350,000		279,697
OBX Trust
Series 2020-EXP1, Class 2A1, 1 mo. USD Term SOFR + 0.864%,
6.181%, due 02/25/602,4		79,616		76,477
Series 2023-NQM1, Class A1,
6.120%, due 11/25/622,4		207,722		206,500
Starwood Mortgage Residential Trust, Series 2020-1, Class A1,
2.275%, due 02/25/502,4		14,869		13,817
UBS Commercial Mortgage Trust
Series 2017-C1, Class C,
4.578%, due 11/15/504		360,000		313,020
Series 2018-C11, Class B,
4.713%, due 06/15/514		440,000		376,453
Verus Securitization Trust, Series 2020-1, Class A1,
3.417%, due 01/25/602,4		62,428		59,107
				3,469,335
Total mortgage-backed securities
(cost—$5,273,518)				4,731,392

PACE Global Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Non-U.S. government agency obligations: 34.6%
Bahrain: 0.3%
Bahrain Government International Bonds
6.750%, due 09/20/293		545,000	$	542,248
Bermuda: 0.5%
Bermuda Government International Bonds
4.750%, due 02/15/292		910,000		869,505
Brazil: 0.4%
Brazil Government International Bonds
3.875%, due 06/12/30		725,000		636,187
Canada: 3.4%
Hydro-Quebec
6.500%, due 02/15/35	CAD	750,000		631,969
Province of British Columbia
2.800%, due 06/18/48	CAD	300,000		157,563
Province of Ontario
3.650%, due 06/02/33	CAD	3,430,000		2,337,802
Province of Quebec
3.600%, due 09/01/33	CAD	3,360,000		2,272,421
5.000%, due 12/01/41	CAD	1,100,000		824,762
				6,224,517
China: 7.1%
China Development Bank
3.020%, due 03/06/33	CNY	13,210,000		1,906,915
China Government Bonds
2.600%, due 09/01/32	CNY	18,000,000		2,528,417
2.670%, due 11/25/33	CNY	13,770,000		1,953,224
2.800%, due 11/15/32	CNY	39,200,000		5,591,702
4.500%, due 05/22/343	CNY	6,000,000		946,179
				12,926,437

PACE Global Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Non-U.S. government agency obligations—(continued)
Dominican Republic: 0.3%
Dominican Republic International Bonds
4.875%, due 09/23/323		720,000	$	630,450
France: 2.2%
Caisse d'Amortissement de la Dette Sociale
0.450%, due 01/19/323	EUR	2,800,000		2,456,627
0.600%, due 11/25/293	EUR	900,000		840,895
French Republic Government Bonds OAT
2.500%, due 05/25/433	EUR	700,000		652,752
				3,950,274
Hungary: 0.6%
Hungary Government International Bonds
5.500%, due 03/26/362		321,000		299,782
6.125%, due 05/22/282		291,000		293,473
6.125%, due 05/22/283		500,000		504,250
				1,097,505
Indonesia: 0.2%
Indonesia Treasury Bonds
6.625%, due 02/15/34	IDR	5,490,000,000		322,897
Israel: 0.8%
Israel Government International Bonds
5.375%, due 03/12/29		480,000		470,174
5.500%, due 03/12/34		967,000		917,441
				1,387,615
Italy: 0.8%
Italy Buoni Poliennali del Tesoro
3.500%, due 02/15/313	EUR	1,300,000		1,378,903
Japan: 4.3%
Japan Government Ten Year Bonds
0.100%, due 12/20/30	JPY	214,350,000		1,317,305

PACE Global Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Non-U.S. government agency obligations—(continued)
Japan—(continued)
0.500%, due 03/20/33	JPY	199,400,000	$	1,233,975
Japan Government Thirty Year Bonds
1.000%, due 03/20/52	JPY	371,150,000		1,900,286
Japan Government Twenty Year Bonds
1.400%, due 12/20/42	JPY	224,900,000		1,387,346
1.500%, due 09/20/43	JPY	326,250,000		2,028,846
				7,867,758
Mexico: 2.6%
Mexico Bonos
7.750%, due 05/29/31	MXN	77,000,000		3,979,025
Mexico Government International Bonds
4.490%, due 05/25/32	EUR	496,000		528,008
6.000%, due 05/07/36		226,000		217,412
				4,724,445
Morocco: 0.2%
Morocco Government International Bonds
2.375%, due 12/15/272		340,000		298,180
South Korea: 2.4%
Korea Treasury Bonds
3.000%, due 09/10/24	KRW	5,964,350,000		4,304,872
Spain: 3.3%
Spain Government Bonds
3.150%, due 04/30/333	EUR	1,400,000		1,480,413
3.550%, due 10/31/333	EUR	4,200,000		4,565,612
				6,046,025
Supranationals: 3.4%
Banque Ouest Africaine de Developpement
2.750%, due 01/22/332	EUR	227,000		187,316
4.700%, due 10/22/313		850,000		721,497

PACE Global Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Non-U.S. government agency obligations—(continued)
Supranationals—(continued)
European Union
3.000%, due 03/04/533	EUR	5,410,000	$	5,348,598
				6,257,411
United Kingdom: 1.8%
U.K. Gilts
1.250%, due 07/31/513	GBP	700,000		409,696
1.625%, due 10/22/283	GBP	1,105,000		1,236,050
3.750%, due 10/22/533	GBP	1,600,000		1,673,420
				3,319,166
Total non-U.S. government agency obligations
(cost—$66,378,000)				62,784,395
U.S. government agency obligations: 18.4%
United States: 18.4%
Federal Home Loan Mortgage Corp.
2.500%, due 11/01/51		2,036,412		1,643,689
3.000%, due 08/01/52		1,088,640		914,950
5.000%, due 01/01/53		944,436		896,603
5.500%, due 04/01/53		1,180,998		1,161,796
5.500%, due 05/01/53		2,335,116		2,268,081
6.000%, due 07/01/53		909,730		901,601
6.000%, due 08/01/53		3,199,995		3,170,900
Federal National Mortgage Association
2.500%, due 07/01/51		3,560,875		2,850,916
2.500%, due 12/01/51		734,683		591,556
2.500%, due 05/01/52		811,160		648,931
3.000%, due 08/01/51		1,858,171		1,560,428
3.000%, due 11/01/51		1,940,133		1,622,776
3.000%, due 01/01/52		1,612,799		1,353,765
3.000%, due 03/01/52		770,065		642,050

PACE Global Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount1		Value
U.S. government agency obligations—(continued)
United States—(continued)
3.000%, due 04/01/52		1,071,276	$	895,666
3.500%, due 10/01/51		2,006,358		1,763,202
3.500%, due 04/01/52		4,481,790		3,907,230
3.500%, due 05/01/58		1,263,095		1,090,711
4.000%, due 01/01/50		3,064,389		2,793,834
6.500%, due 10/01/53		1,739,168		1,752,772
Government National Mortgage Association, TBA,
6.000%		880,000		882,262
Total U.S. government agency obligations
(cost—$35,351,317)				33,313,719
U.S. Treasury obligations: 2.0%
United States: 2.0%
U.S. Treasury Bonds
4.125%, due 08/15/53		61,000		54,624
4.750%, due 11/15/43		430,000		421,803
U.S. Treasury Inflation-Indexed Notes,
1.375%, due 07/15/33		3,473,372		3,224,509
Total U.S. Treasury obligations
(cost—$3,770,065)				3,700,936

	Number of shares
Short-term investments: 1.9%
Investment companies: 1.9%
State Street Institutional U.S. Government Money Market Fund, 5.248%7 (cost $3,508,127)		3,508,127		3,508,127
Investment of cash collateral from securities loaned—0.7%
Money market funds—0.7%
State Street Navigator Securities Lending Government Money Market Portfolio, 5.290%7 (cost $1,301,145)		1,301,145		1,301,145
Total investments (cost $187,600,493)8—99.7%				180,959,232
Other assets in excess of liabilities—0.3%				464,574
Net assets—100.0%			$	181,423,806

PACE Global Fixed Income Investments

Portfolio of investments – April 30, 2024 (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)
Interest rate futures buy contracts:
73	AUD	Australian Bond 10 Year Futures	June 2024	$	5,492,347		$	5,321,499		$	(170,848	)
25	EUR	EURO 10 Year Euro BUND Futures	June 2024		3,470,990			3,470,536			(454	)
75	EUR	EUX Short term Euro-BTP Futures	June 2024		8,483,698			8,425,015			(58,683	)
1	EUR	French Government Bond Futures	June 2024		135,974			133,902			(2,072	)
54	EUR	Italian Government Bond Futures	June 2024		6,778,661			6,741,997			(36,664	)
42	GBP	United Kingdom Long Gilt Bond Futures	June 2024		5,159,851			5,026,640			(133,211	)
U.S. Treasury futures buy contracts:
42	USD	U.S. Long Bond Futures	June 2024	$	4,946,809		$	4,780,125		$	(166,684	)
5	USD	Ultra U.S. Treasury Bond Futures	June 2024	$	626,027		$	597,813		$	(28,214	)
Total				$	35,094,357		$	34,497,527		$	(596,830	)
Interest rate futures sell contracts:
56	EUR	EURO BOBL 5 Year Index Future	June 2024	$	(7,014,018	)	$	(6,958,233	)	$	55,785
192	EUR	EURO Schatz 2 Year Index Futures	June 2024		(21,655,326	)		(21,537,302	)		118,024
4	JPY	Japan Government Bond 10 Year Futures	June 2024		(3,653,920	)		(3,664,839	)		(10,919	)
U.S. Treasury futures sell contracts:
30	USD	U.S. Treasury Note 10 Year Futures	June 2024	$	(3,324,755	)	$	(3,223,125	)	$	101,630
2	USD	U.S. Treasury Note 2 Year Futures	June 2024		(409,060	)		(405,313	)		3,747
63	USD	U.S. Treasury Note 5 Year Futures	June 2024		(6,677,956	)		(6,598,758	)		79,198
186	USD	Ultra U.S. Treasury Note 10 Year Futures	June 2024		(21,022,514	)		(20,500,687	)		521,827
Total				$	(63,757,549	)	$	(62,888,257	)	$	869,292
Net unrealized appreciation (depreciation)										$	272,462

PACE Global Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

Forward foreign currency contracts

Counterparty	Sell		Purchase		Settlement date	Unrealized appreciation (depreciation)
BB	USD	342,588	TRY	14,681,607	01/22/25	$	90
BB	EUR	1,713,029	USD	1,857,297	05/22/24		27,774
BB	THB	25,658,538	USD	698,505	05/23/24		5,072
BNP	CNY	10,040,590	USD	1,384,075	05/22/24		(4,568	)
BNP	EUR	100,000	USD	106,893	05/22/24		93
BNP	USD	1,069,663	CZK	25,461,441	05/22/24		10,620
BNP	USD	2,736,702	EUR	2,560,133	05/22/24		(2,470	)
BNP	USD	1,115,206	SGD	1,513,465	05/23/24		(5,444	)
BOA	AUD	150,000	USD	98,522	05/22/24		1,293
BOA	PLN	2,743,874	EUR	642,233	05/22/24		9,601
BOA	USD	192,709	AUD	300,000	05/22/24		1,748
BOA	USD	379,083	EUR	352,373	05/22/24		(2,746	)
BOA	USD	155,230	GBP	124,059	05/22/24		(196	)
CITI	AUD	1,888,728	USD	1,233,264	05/22/24		9,006
CITI	AUD	352,723	USD	226,400	05/22/24		(2,232	)
CITI	CAD	3,528,577	USD	2,566,566	05/22/24		2,576
CITI	EUR	213,191	USD	228,222	05/22/24		532
CITI	EUR	9,069,418	USD	9,681,866	05/22/24		(4,311	)
CITI	GBP	183,648	AUD	351,817	05/22/24		(1,455	)
CITI	GBP	275,480	CAD	470,956	05/22/24		(2,048	)
CITI	GBP	183,648	SEK	2,447,258	05/22/24		(7,248	)
CITI	GBP	33,348	USD	41,738	05/22/24		64
CITI	GBP	274,588	USD	343,100	05/22/24		(46	)
CITI	MXN	19,656,238	USD	1,175,290	05/22/24		31,328
CITI	NZD	1,346,638	USD	800,107	05/22/24		6,604
CITI	SEK	3,734,940	GBP	274,412	05/22/24		3,731
CITI	USD	1,031,132	CHF	937,152	05/22/24		(9,488	)
CITI	USD	378,322	DKK	2,646,152	05/22/24		679
CITI	USD	168,793	GBP	137,069	05/22/24		2,498

PACE Global Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

Counterparty	Sell		Purchase		Settlement date	Unrealized appreciation (depreciation)
CITI	USD	1,363,899	NZD	2,284,800	05/22/24	$	(17,588	)
CITI	USD	1,165,536	PLN	4,665,042	05/22/24		(15,703	)
CITI	USD	1,186,158	SEK	12,845,736	05/22/24		(19,551	)
GSI	AUD	350,827	CAD	315,767	05/22/24		2,045
GSI	CHF	309,091	EUR	319,832	05/22/24		4,624
GSI	EUR	320,455	CHF	313,221	05/22/24		(787	)
GSI	EUR	640,033	PLN	2,775,056	05/22/24		434
GSI	EUR	544,587	USD	583,312	05/22/24		1,691
GSI	JPY	71,099,759	USD	456,690	05/22/24		4,523
GSI	MXN	18,381,612	USD	1,073,302	05/22/24		3,521
GSI	NZD	383,987	CAD	315,705	05/22/24		3,140
GSI	SEK	3,709,443	GBP	274,941	05/22/24		6,708
GSI	USD	459,424	EUR	431,132	05/22/24		1,026
GSI	USD	168,957	GBP	137,060	05/22/24		2,323
GSI	USD	155,448	RON	726,166	05/22/24		240
GSI	USD	1,307,036	THB	48,134,209	05/23/24		(6,189	)
HSBC	GBP	120,089	USD	152,356	05/22/24		2,283
HSBC	USD	25,372	CAD	34,982	05/22/24		48
HSBC	USD	1,881,598	CNY	13,660,153	05/22/24		7,642
MSCI	AUD	4,238,196	USD	2,770,815	05/22/24		23,651
MSCI	EUR	1,705,082	USD	1,827,106	05/22/24		6,071
MSCI	GBP	10,000	USD	12,662	05/22/24		165
MSCI	GBP	33,765	USD	42,064	05/22/24		(131	)
MSCI	JPY	2,401,850	USD	15,694	05/22/24		420
MSCI	USD	1,823,063	AUD	2,822,935	05/22/24		6,741
MSCI	USD	3,747,498	AUD	5,755,514	05/22/24		(16,820	)
MSCI	USD	2,403,101	CNY	17,421,159	05/22/24		6,297
MSCI	USD	1,370,446	EUR	1,265,935	05/22/24		(18,422	)
MSCI	USD	858,420	GBP	688,033	05/22/24		1,397
MSCI	USD	308,862	ILS	1,165,259	05/22/24		2,836
MSCI	USD	9,413,151	JPY	1,430,872,616	05/22/24		(313,357	)
MSCI	USD	144,459	NOK	1,572,230	05/22/24		(2,855	)
SCB	CNY	1,105,673	USD	152,411	05/22/24		(506	)
SSB	AUD	30,000	USD	19,855	05/22/24		409
SSB	GBP	41,956	USD	52,648	05/22/24		217
SSB	USD	112,889	HUF	41,636,749	05/22/24		511
TDB	EUR	214,078	USD	228,442	05/22/24		(194	)
Net unrealized appreciation (depreciation)						$	(252,083	)

PACE Global Fixed Income Investments

Portfolio of investments – April 30, 2024 (unaudited) 

Fair valuation summary

The following is a summary of the fair valuations according to the inputs used as of April 30, 2024 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	$	—	$	1,549,698		$	—	$	1,549,698
Corporate bonds		—		70,069,820			—		70,069,820
Mortgage-backed securities		—		4,731,392			—		4,731,392
Non-U.S. government agency obligations		—		62,784,395			—		62,784,395
U.S. government agency obligations		—		33,313,719			—		33,313,719
U.S. Treasury obligations		—		3,700,936			—		3,700,936
Short-term investments		—		3,508,127			—		3,508,127
Investment of cash collateral from securities loaned		—		1,301,145			—		1,301,145
Futures contracts		577,612		302,599			—		880,211
Forward foreign currency contracts		—		202,272			—		202,272
Total	$	577,612	$	181,464,103		$	—	$	182,041,715
Liabilities
Futures contracts	$	—	$	(607,749	)	$	—	$	(607,749	)
Forward foreign currency contracts		—		(454,355	)		—		(454,355	)
Total	$	—	$	(1,062,104	)	$	—	$	(1,062,104	)

At April 30, 2024, 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 $20,799,637, represented 11.5% 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 April 30, 2024. 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 Perpetual investment. Date shown reflects the next call date.

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

7 Rates shown reflect yield at April 30, 2024.

8 Includes $2,492,586 of investments in securities on loan, at value plus accrued interest and dividends, if any. The Fund includes cash collateral of $1,301,145 and non-cash collateral of $1,251,723.

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—95.5%
Advertising: 0.6%
Clear Channel Outdoor Holdings, Inc.
5.125%, due 08/15/272		75,000	$	69,519
7.500%, due 06/01/292		125,000		100,728
7.750%, due 04/15/282		200,000		169,573
7.875%, due 04/01/302		100,000		98,046
Lamar Media Corp.
3.750%, due 02/15/28		25,000		23,074
Outfront Media Capital LLC/Outfront Media Capital Corp.
4.250%, due 01/15/292		100,000		89,005
4.625%, due 03/15/302		175,000		154,502
5.000%, due 08/15/272		200,000		190,355
Summer BC Holdco B SARL
5.750%, due 10/31/263	EUR	175,000		183,230
				1,078,032
Aerospace & defense: 1.6%
AAR Escrow Issuer LLC
6.750%, due 03/15/292		50,000		50,270
Bombardier, Inc.
6.000%, due 02/15/282		175,000		170,658
7.250%, due 07/01/312		50,000		50,123
7.500%, due 02/01/292		100,000		102,293
7.875%, due 04/15/272		420,000		417,383
Evander Gold Mines Ltd.
10.000%, due 04/19/264,5,6	EUR	101,301		0
Spirit AeroSystems, Inc.
4.600%, due 06/15/28		125,000		115,180
9.375%, due 11/30/292		100,000		108,152
9.750%, due 11/15/302		150,000		165,937

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Aerospace & defense—(continued)
TransDigm, Inc.
4.625%, due 01/15/29		200,000	$	183,198
4.875%, due 05/01/29		100,000		91,978
5.500%, due 11/15/27		750,000		728,861
6.375%, due 03/01/292		50,000		49,618
6.625%, due 03/01/322		100,000		99,830
6.750%, due 08/15/282		300,000		301,275
6.875%, due 12/15/302		75,000		75,510
7.125%, due 12/01/312		100,000		101,907
Triumph Group, Inc.
9.000%, due 03/15/282		90,000		93,191
				2,905,364
Agriculture: 0.3%
Darling Ingredients, Inc.
5.250%, due 04/15/272		75,000		72,667
6.000%, due 06/15/302		100,000		97,144
MHP Lux SA
6.250%, due 09/19/293		200,000		136,625
Tereos Finance Groupe I SA
4.750%, due 04/30/273	EUR	100,000		106,412
7.250%, due 04/15/282		150,000		168,115
				580,963
Airlines: 1.2%
Air Canada
3.875%, due 08/15/262		25,000		23,716
Air France-KLM
1.875%, due 01/16/253	EUR	200,000		209,399
Allegiant Travel Co.
7.250%, due 08/15/272		50,000		48,326

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Airlines—(continued)
American Airlines, Inc.
7.250%, due 02/15/282		100,000	$	100,566
8.500%, due 05/15/292		150,000		156,251
American Airlines, Inc./AAdvantage Loyalty IP Ltd.
5.500%, due 04/20/262		150,000		148,260
5.750%, due 04/20/292		275,000		265,577
Avianca Midco 2 PLC
9.000%, due 12/01/282		525,000		496,125
Delta Air Lines, Inc.
7.375%, due 01/15/26		75,000		76,711
Hawaiian Brand Intellectual Property Ltd./HawaiianMiles Loyalty Ltd.
5.750%, due 01/20/262		100,000		93,789
Transportes Aereos Portugueses SA
5.625%, due 12/02/243	EUR	300,000		318,543
United Airlines Pass-Through Trust Series 2020-1, Class A,
5.875%, due 10/15/27		27,548		27,472
United Airlines, Inc.
4.375%, due 04/15/262		50,000		48,094
4.625%, due 04/15/292		150,000		138,244
				2,151,073
Apparel: 0.2%
Crocs, Inc.
4.125%, due 08/15/312		175,000		146,855
4.250%, due 03/15/292		25,000		22,412
CT Investment GmbH
6.375%, due 04/15/302	EUR	100,000		106,854

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Apparel—(continued)
Hanesbrands, Inc.
9.000%, due 02/15/312		50,000	$	49,760
Kontoor Brands, Inc.
4.125%, due 11/15/292		75,000		66,625
				392,506
Auto manufacturers: 0.9%
Allison Transmission, Inc.
3.750%, due 01/30/312		25,000		21,399
4.750%, due 10/01/272		75,000		71,681
Aston Martin Capital Holdings Ltd.
10.375%, due 03/31/292	GBP	100,000		124,632
Ford Motor Co.
4.750%, due 01/15/43		125,000		98,419
5.291%, due 12/08/46		50,000		42,043
Ford Motor Credit Co. LLC
4.000%, due 11/13/30		200,000		174,297
4.867%, due 08/03/27	EUR	175,000		190,548
5.113%, due 05/03/29		200,000		190,566
Jaguar Land Rover Automotive PLC
5.875%, due 11/15/243	EUR	100,000		106,987
5.875%, due 01/15/282		200,000		194,381
6.875%, due 11/15/263	EUR	200,000		224,921
JB Poindexter & Co., Inc.
8.750%, due 12/15/312		75,000		76,633
Mclaren Finance PLC
7.500%, due 08/01/262		200,000		173,700
Wabash National Corp.
4.500%, due 10/15/282		25,000		22,463
				1,712,670

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Auto parts & equipment: 2.5%
Adient Global Holdings Ltd.
7.000%, due 04/15/282		25,000	$	25,256
8.250%, due 04/15/312		25,000		25,961
Adler Pelzer Holding GmbH
9.500%, due 04/01/272	EUR	200,000		213,784
9.500%, due 04/01/273		100,000		106,892
Clarios Global LP
6.750%, due 05/15/252		42,000		42,009
Clarios Global LP/Clarios U.S. Finance Co.
4.375%, due 05/15/263	EUR	325,000		343,056
6.250%, due 05/15/262		25,000		24,970
8.500%, due 05/15/272		25,000		25,033
Dana Financing Luxembourg SARL
8.500%, due 07/15/312	EUR	125,000		145,118
Dana, Inc.
4.500%, due 02/15/32		25,000		21,210
5.375%, due 11/15/27		25,000		24,158
Dealer Tire LLC/DT Issuer LLC
8.000%, due 02/01/282		75,000		73,780
Dornoch Debt Merger Sub, Inc.
6.625%, due 10/15/292		275,000		227,117
Forvia SE
2.750%, due 02/15/273	EUR	350,000		356,338
3.125%, due 06/15/263		100,000		104,179

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Auto parts & equipment—(continued)
Goodyear Tire & Rubber Co.
5.000%, due 07/15/29		75,000	$	68,023
5.250%, due 04/30/31		25,000		22,419
5.250%, due 07/15/31		350,000		309,596
7.000%, due 03/15/28		25,000		25,224
9.500%, due 05/31/25		50,000		50,168
Grupo Antolin-Irausa SA
3.500%, due 04/30/283	EUR	100,000		83,242
IHO Verwaltungs GmbH
8.750% Cash or 9.500% PIK, 8.750%, due 05/15/282,7		225,000		257,829
Mahle GmbH
6.500%, due 05/02/312		100,000		106,853
Nemak SAB de CV
2.250%, due 07/20/283		150,000		141,801
2.250%, due 07/20/282		125,000		118,167
3.625%, due 06/28/313		200,000		156,500
Phinia, Inc.
6.750%, due 04/15/292		25,000		25,089
Standard Profil Automotive GmbH
6.250%, due 04/30/263	EUR	100,000		96,048
Tenneco, Inc.
8.000%, due 11/17/282		225,000		210,232
TI Automotive Finance PLC
3.750%, due 04/15/293	EUR	175,000		171,819
ZF Europe Finance BV
3.000%, due 10/23/293		200,000		195,565

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Auto parts & equipment—(continued)
ZF Finance GmbH
3.000%, due 09/21/253		100,000	$	104,800
5.750%, due 08/03/263		100,000		109,568
ZF North America Capital, Inc.
6.750%, due 04/23/302		150,000		150,312
6.875%, due 04/14/282		150,000		151,003
6.875%, due 04/23/322		150,000		151,574
7.125%, due 04/14/302		150,000		153,373
				4,618,066
Banks: 2.3%
Access Bank PLC
6.125%, due 09/21/263		200,000		185,063
Banco de Credito e Inversiones SA
(fixed, converts to FRN on 05/08/29),
8.750%, due 02/08/292,6,8		200,000		204,424
Banco de Credito Social Cooperativo SA
(fixed, converts to FRN on 03/09/27),
1.750%, due 03/09/283,6	EUR	200,000		196,231
Bank of America Corp. Series JJ,
(fixed, converts to FRN on 06/20/24),
5.125%, due 06/20/246,8		75,000		74,843
Barclays PLC
(fixed, converts to FRN on 06/15/25),
7.125%, due 06/15/256,8	GBP	200,000		246,161
(fixed, converts to FRN on 06/15/24),
8.000%, due 06/15/246,8		200,000		199,828

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Banks—(continued)
BBVA Bancomer SA
(fixed, converts to FRN on 01/08/34),
8.125%, due 01/08/392,6		250,000	$	252,663
Citigroup, Inc.
Series V, (fixed, converts to FRN on 01/30/25),
4.700%, due 01/30/256,8		175,000		170,045
Series T, (fixed, converts to FRN on 08/15/26),
6.250%, due 08/15/266,8		125,000		124,432
Commerzbank AG
(fixed, converts to FRN on 12/29/26),
1.375%, due 12/29/313,6	EUR	200,000		194,344
(fixed, converts to FRN on 12/05/25),
4.000%, due 12/05/303,6		100,000		105,438
(fixed, converts to FRN on 12/06/27),
6.500%, due 12/06/323,6		100,000		111,407
Deutsche Bank AG
(fixed, converts to FRN on 06/24/27),
4.000%, due 06/24/323,6		400,000		410,162
(fixed, converts to FRN on 05/19/26),
5.625%, due 05/19/313,6		100,000		107,261
Freedom Mortgage Corp.
6.625%, due 01/15/272		250,000		240,629
7.625%, due 05/01/262		75,000		74,663
12.000%, due 10/01/282		25,000		26,756
12.250%, due 10/01/302		25,000		27,130

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Banks—(continued)
Goldman Sachs Group, Inc. Series R,
(fixed, converts to FRN on 02/10/25),
4.950%, due 02/10/256,8		75,000	$	73,636
Intesa Sanpaolo SpA
2.925%, due 10/14/303	EUR	250,000		242,189
3.928%, due 09/15/263		250,000		265,350
JPMorgan Chase & Co. Series HH,
(fixed, converts to FRN on 02/01/25),
4.600%, due 02/01/256,8		75,000		73,774
UniCredit SpA
(fixed, converts to FRN on 09/23/24),
2.000%, due 09/23/293,6	EUR	400,000		421,097
(fixed, converts to FRN on 01/15/27),
2.731%, due 01/15/323,6		325,000		327,418
				4,354,944
Beverages: 0.4%
Central American Bottling Corp./CBC Bottling Holdco SL/Beliv Holdco SL
5.250%, due 04/27/292		200,000		186,058
Primo Water Holdings, Inc.
3.875%, due 10/31/283	EUR	331,000		338,654
4.375%, due 04/30/292		150,000		136,914
Triton Water Holdings, Inc.
6.250%, due 04/01/292		100,000		89,673
				751,299
Biotechnology: 0.1%
Grifols SA
3.875%, due 10/15/283	EUR	225,000		189,545

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Building Materials: 2.1%
AmeriTex HoldCo Intermediate LLC
10.250%, due 10/15/282		50,000	$	52,669
Builders FirstSource, Inc.
4.250%, due 02/01/322		300,000		261,311
5.000%, due 03/01/302		100,000		93,634
6.375%, due 06/15/322		225,000		222,665
Cemex SAB de CV
(fixed, converts to FRN on 09/08/26),
5.125%, due 06/08/262,6,8		200,000		191,910
(fixed, converts to FRN on 09/08/26),
5.125%, due 06/08/263,6,8		600,000		575,730
Compact Bidco BV
5.750%, due 05/01/262	EUR	200,000		99,890
EMRLD Borrower LP/Emerald Co.-Issuer, Inc.
6.375%, due 12/15/302		125,000		139,396
6.625%, due 12/15/302		100,000		99,104
Griffon Corp.
5.750%, due 03/01/28		250,000		240,766
James Hardie International Finance DAC
3.625%, due 10/01/262	EUR	150,000		157,307
JELD-WEN, Inc.
4.625%, due 12/15/252		25,000		24,372
Knife River Corp.
7.750%, due 05/01/312		50,000		51,933
Miter Brands Acquisition Holdco, Inc./MIWD Borrower LLC
6.750%, due 04/01/322		75,000		74,485

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Building Materials—(continued)
MIWD Holdco II LLC/MIWD Finance Corp.
5.500%, due 02/01/302		75,000	$	67,924
New Enterprise Stone & Lime Co., Inc.
5.250%, due 07/15/282		125,000		117,416
9.750%, due 07/15/282		100,000		102,247
Oscar AcquisitionCo LLC/Oscar Finance, Inc.
9.500%, due 04/15/302		50,000		48,108
Sisecam U.K. PLC
8.250%, due 05/02/292		200,000		203,442
Smyrna Ready Mix Concrete LLC
6.000%, due 11/01/282		225,000		217,655
Standard Industries, Inc.
2.250%, due 11/21/263	EUR	225,000		226,698
4.375%, due 07/15/302		175,000		154,989
5.000%, due 02/15/272		125,000		120,408
Summit Materials LLC/Summit Materials Finance Corp.
5.250%, due 01/15/292		100,000		96,089
6.500%, due 03/15/272		50,000		49,871
7.250%, due 01/15/312		45,000		46,230
West China Cement Ltd.
4.950%, due 07/08/263		200,000		162,638
				3,898,887
Chemicals: 3.8%
ASP Unifrax Holdings, Inc.
7.500%, due 09/30/292		25,000		12,813

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Chemicals—(continued)
Avient Corp.
5.750%, due 05/15/252		100,000	$	99,496
7.125%, due 08/01/302		125,000		126,472
Braskem Netherlands Finance BV
4.500%, due 01/31/303		850,000		717,867
Chemours Co.
4.000%, due 05/15/26	EUR	200,000		203,835
4.625%, due 11/15/292		75,000		64,265
5.375%, due 05/15/27		75,000		70,960
5.750%, due 11/15/282		175,000		160,715
Consolidated Energy Finance SA
5.000%, due 10/15/282	EUR	225,000		202,998
Herens Midco SARL
5.250%, due 05/15/293		200,000		150,706
INEOS Finance PLC
2.125%, due 11/15/253		175,000		180,952
6.375%, due 04/15/292		150,000		160,880
INEOS Quattro Finance 2 PLC
8.500%, due 03/15/292		100,000		111,460
Innophos Holdings, Inc.
9.375%, due 02/15/282		100,000		86,492
Iris Holdings, Inc.
8.750% Cash or 9.500% PIK,
8.750%, due 02/15/262,7		125,000		105,074
Italmatch Chemicals SpA
10.000%, due 02/06/282	EUR	125,000		139,803
10.000%, due 02/06/283		100,000		111,843

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Chemicals—(continued)
Lune Holdings SARL
5.625%, due 11/15/283		100,000	$	86,443
Methanex Corp.
5.125%, due 10/15/27		75,000		72,133
Minerals Technologies, Inc.
5.000%, due 07/01/282		100,000		94,439
Monitchem HoldCo 3 SA
8.750%, due 05/01/282	EUR	100,000		108,609
Nobian Finance BV
3.625%, due 07/15/263		125,000		128,929
NOVA Chemicals Corp.
4.250%, due 05/15/292		50,000		41,850
5.000%, due 05/01/252		50,000		49,066
5.250%, due 06/01/272		75,000		70,553
8.500%, due 11/15/282		125,000		131,385
9.000%, due 02/15/302		150,000		154,560
OCP SA
6.875%, due 04/25/443		500,000		459,219
7.500%, due 05/02/542		200,000		194,200
Olin Corp.
5.000%, due 02/01/30		75,000		69,998
5.625%, due 08/01/29		150,000		144,606
Olympus Water U.S. Holding Corp.
5.375%, due 10/01/293	EUR	375,000		348,566
6.250%, due 10/01/292		200,000		180,244
9.625%, due 11/15/283	EUR	125,000		141,797

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Chemicals—(continued)
Polar U.S. Borrower LLC/Schenectady International Group, Inc.
6.750%, due 05/15/262		125,000	$	32,500
Rain Carbon, Inc.
12.250%, due 09/01/292		50,000		52,070
Sasol Financing USA LLC
4.500%, due 11/08/273		200,000		175,400
5.500%, due 03/18/31		300,000		249,469
SCIH Salt Holdings, Inc.
4.875%, due 05/01/282		100,000		92,979
6.625%, due 05/01/292		150,000		138,403
SCIL IV LLC/SCIL USA Holdings LLC
9.500%, due 07/15/282	EUR	150,000		173,271
9.500%, due 07/15/283		100,000		115,514
Synthomer PLC
7.375%, due 05/02/292		125,000		134,701
Trinseo Materials Operating SCA/Trinseo Materials Finance, Inc.
5.125%, due 04/01/292		240,000		61,657
5.375%, due 09/01/252		46,000		36,555
Tronox, Inc.
4.625%, due 03/15/292		175,000		156,115
UPL Corp. Ltd.
(fixed, converts to FRN on 05/27/25),
5.250%, due 02/27/253,6,8		200,000		137,937
WR Grace Holdings LLC
4.875%, due 06/15/272		125,000		118,641
5.625%, due 08/15/292		125,000		111,937
7.375%, due 03/01/312		50,000		50,683
				7,021,060

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
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		301,875
Murray Energy Corp.
9.000% Cash and 3.000% PIK,
0.000%, due 04/15/242,4,5,10		1,268,693		0
				307,375
Commercial services: 4.0%
ADT Security Corp.
4.125%, due 08/01/292		100,000		90,394
4.875%, due 07/15/322		150,000		133,515
Adtalem Global Education, Inc.
5.500%, due 03/01/282		56,000		53,059
Allied Universal Holdco LLC/Allied Universal Finance Corp.
6.000%, due 06/01/292		200,000		169,804
6.625%, due 07/15/262		113,000		112,701
9.750%, due 07/15/272		250,000		249,053
Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 SARL
3.625%, due 06/01/282	EUR	100,000		97,649
4.625%, due 06/01/282		200,000		179,406
4.875%, due 06/01/283	GBP	150,000		166,894
Alta Equipment Group, Inc.
5.625%, due 04/15/262		75,000		72,185

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Commercial services—(continued)
AMN Healthcare, Inc.
4.000%, due 04/15/292		250,000	$	221,287
4.625%, due 10/01/272		25,000		23,483
APi Group DE, Inc.
4.125%, due 07/15/292		175,000		154,291
APX Group, Inc.
5.750%, due 07/15/292		175,000		162,721
Arena Luxembourg Finance SARL
1.875%, due 02/01/283	EUR	125,000		120,160
1.875%, due 02/01/282		100,000		96,128
Avis Budget Car Rental LLC/Avis Budget Finance, Inc.
5.375%, due 03/01/292		200,000		177,897
5.750%, due 07/15/272		25,000		23,753
Avis Budget Finance PLC
7.250%, due 07/31/302	EUR	200,000		210,061
BCP V Modular Services Finance II PLC
4.750%, due 11/30/283		100,000		100,305
BCP V Modular Services Finance PLC
6.750%, due 11/30/293		250,000		232,116
Boels Topholding BV
5.750%, due 05/15/302		100,000		106,724
Carriage Services, Inc.
4.250%, due 05/15/292		75,000		66,130
Champions Financing, Inc.
8.750%, due 02/15/292		25,000		25,548

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Commercial services—(continued)
GEO Group, Inc.
8.625%, due 04/15/292		75,000	$	75,927
10.250%, due 04/15/312		100,000		103,094
Hertz Corp.
3.000%, due 01/15/282		50,000		4,500
5.000%, due 12/01/292		75,000		51,502
Kapla Holding SAS
3.375%, due 12/15/263	EUR	250,000		257,462
La Financiere Atalian SASU
8.500%, due 06/30/28		298,201		209,226
Loxam SAS
4.500%, due 02/15/273		100,000		105,918
6.375%, due 05/31/292		100,000		110,142
Matthews International Corp.
5.250%, due 12/01/252		75,000		73,431
Mavis Tire Express Services Topco Corp.
6.500%, due 05/15/292		325,000		301,132
Mundys SpA
1.875%, due 02/12/283	EUR	225,000		220,480
Neptune Bidco U.S., Inc.
9.290%, due 04/15/292		275,000		259,566
NESCO Holdings II, Inc.
5.500%, due 04/15/292		125,000		116,349
Nexi SpA
1.625%, due 04/30/263	EUR	100,000		101,384
Paysafe Finance PLC/Paysafe Holdings U.S. Corp.
4.000%, due 06/15/292		100,000		87,926

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Commercial services—(continued)
PECF USS Intermediate Holding III Corp.
8.000%, due 11/15/292		125,000	$	54,688
Prime Security Services Borrower LLC/Prime Finance, Inc.
6.250%, due 01/15/282		75,000		73,269
PROG Holdings, Inc.
6.000%, due 11/15/292		50,000		46,070
Q-Park Holding I BV
2.000%, due 03/01/273	EUR	175,000		172,047
2.000%, due 03/01/272		100,000		98,313
Rekeep SpA
7.250%, due 02/01/263		275,000		265,746
Service Corp. International
3.375%, due 08/15/30		25,000		21,207
4.000%, due 05/15/31		225,000		193,829
United Rentals North America, Inc.
3.750%, due 01/15/32		75,000		64,048
3.875%, due 02/15/31		125,000		109,594
4.000%, due 07/15/30		225,000		200,531
4.875%, due 01/15/28		50,000		47,926
5.250%, due 01/15/30		275,000		263,744
5.500%, due 05/15/27		25,000		24,633
6.125%, due 03/15/342		25,000		24,410
Verisure Holding AB
7.125%, due 02/01/282	EUR	125,000		138,902
Verisure Midholding AB
5.250%, due 02/15/293		200,000		205,436

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Commercial services—(continued)
Verscend Escrow Corp.
9.750%, due 08/15/262		125,000	$	125,000
WASH Multifamily Acquisition, Inc.
5.750%, due 04/15/262		100,000		96,951
Williams Scotsman, Inc.
4.625%, due 08/15/282		75,000		69,224
6.125%, due 06/15/252		60,000		59,775
				7,478,646
Computers: 0.9%
ASGN, Inc.
4.625%, due 05/15/282		175,000		163,312
CA Magnum Holdings
5.375%, due 10/31/263		200,000		189,200
Exela Intermediate LLC/Exela Finance, Inc.
11.500% PIK,
11.500%, due 04/15/262,7		158,398		23,760
McAfee Corp.
7.375%, due 02/15/302		75,000		69,470
NCR Atleos Corp.
9.500%, due 04/01/292		200,000		212,599
NCR Voyix Corp.
5.000%, due 10/01/282		125,000		115,120
5.125%, due 04/15/292		300,000		275,674
5.250%, due 10/01/302		25,000		22,262
Presidio Holdings, Inc.
4.875%, due 02/01/272		75,000		74,863
8.250%, due 02/01/282		100,000		101,113
Seagate HDD Cayman
4.125%, due 01/15/31		80,000		69,432
9.625%, due 12/01/32		226,125		253,657

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Computers—(continued)
Vericast Corp.
11.000%, due 09/15/262		126,250	$	135,403
Western Digital Corp.
4.750%, due 02/15/26		50,000		48,655
				1,754,520
Cosmetics/Personal Care: 0.2%
Coty, Inc.
5.750%, due 09/15/282	EUR	100,000		110,332
5.750%, due 09/15/283		100,000		110,231
Coty, Inc./HFC Prestige Products, Inc./HFC Prestige International U.S. LLC
6.625%, due 07/15/302		50,000		50,030
Essity AB
0.250%, due 02/08/313	EUR	100,000		94,921
				365,514
Distribution & wholesale: 0.3%
American Builders & Contractors Supply Co., Inc.
4.000%, due 01/15/282		50,000		46,026
BCPE Empire Holdings, Inc.
7.625%, due 05/01/272		175,000		170,330
Li & Fung Ltd.
5.250%, due 11/03/243,8		200,000		89,987
OPENLANE, Inc.
5.125%, due 06/01/252		16,000		15,760
Resideo Funding, Inc.
4.000%, due 09/01/292		50,000		43,844
Ritchie Bros Holdings, Inc.
6.750%, due 03/15/282		50,000		50,473
7.750%, due 03/15/312		50,000		51,856

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Distribution & wholesale—(continued)
Windsor Holdings III LLC
8.500%, due 06/15/302		50,000	$	52,076
				520,352
Diversified financial services: 4.2%
4finance SA /luxembourg
10.750%, due 10/26/26	EUR	200,000		197,833
AG Issuer LLC
6.250%, due 03/01/282		150,000		145,222
AG TTMT Escrow Issuer LLC
8.625%, due 09/30/272		25,000		25,751
Agps Bondco PLC
5.000%, due 01/14/293	EUR	200,000		77,137
Ally Financial, Inc.
Series B,
(fixed, converts to FRN on 05/15/26),
4.700%, due 05/15/266,8		100,000		84,892
6.700%, due 02/14/33		100,000		98,099
Bracken MidCo1 PLC
6.750% Cash or 7.500% PIK,
6.750%, due 11/01/273,7	GBP	100,000		116,213
Bread Financial Holdings, Inc.
9.750%, due 03/15/292		75,000		77,996
Coinbase Global, Inc.
0.500%, due 06/01/26		25,000		25,086
3.375%, due 10/01/282		325,000		272,468
3.625%, due 10/01/312		275,000		214,439
Credito Real SAB de CV SOFOM ER
0.000%, due 02/01/273,10	EUR	275,000		38,152

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Diversified financial services—(continued)
Curo Group Holdings Corp.
7.500%, due 08/01/282,10		75,000	$	3,188
doValue SpA
3.375%, due 07/31/262	EUR	150,000		140,855
5.000%, due 08/04/252		325,000		324,696
Enact Holdings, Inc.
6.500%, due 08/15/252		50,000		49,955
Freedom Mortgage Holdings LLC
9.250%, due 02/01/292		75,000		75,397
Garfunkelux Holdco 3 SA
6.750%, due 11/01/253	EUR	125,000		93,380
7.750%, due 11/01/253	GBP	225,000		195,953
GGAM Finance Ltd.
6.875%, due 04/15/292		25,000		24,977
8.000%, due 02/15/272		50,000		51,243
Global Aircraft Leasing Co. Ltd.
6.500% Cash or 7.250% PIK,
6.500%, due 09/15/242,7		274,147		258,384
goeasy Ltd.
7.625%, due 07/01/292		125,000		124,974
9.250%, due 12/01/282		50,000		52,792
International Personal Finance PLC
9.750%, due 11/12/25	EUR	200,000		210,345
Intrum AB
4.875%, due 08/15/253		100,000		87,510
9.250%, due 03/15/283		100,000		71,502
Iqera Group SAS
6.500%, due 09/30/242		83,280		68,879

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Diversified financial services—(continued)
Jane Street Group/JSG Finance, Inc.
4.500%, due 11/15/292		75,000	$	68,217
Jefferson Capital Holdings LLC
6.000%, due 08/15/262		100,000		98,304
9.500%, due 02/15/292		100,000		101,746
Jerrold Finco PLC
5.250%, due 01/15/273	GBP	175,000		207,738
7.875%, due 04/15/302		100,000		122,943
Macquarie Airfinance Holdings Ltd.
6.400%, due 03/26/292		25,000		24,928
6.500%, due 03/26/312		50,000		50,037
8.125%, due 03/30/292		50,000		52,285
8.375%, due 05/01/282		25,000		26,246
Midcap Financial Issuer Trust
6.500%, due 05/01/282		200,000		180,887
Nationstar Mortgage Holdings, Inc.
5.125%, due 12/15/302		75,000		67,376
5.500%, due 08/15/282		100,000		94,038
5.750%, due 11/15/312		50,000		45,444
6.000%, due 01/15/272		75,000		73,492
7.125%, due 02/01/322		50,000		49,285

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Diversified financial services—(continued)
Navient Corp.
5.000%, due 03/15/27		231,000	$	217,775
5.500%, due 03/15/29		250,000		224,088
Series A, 5.625%, due 08/01/33		150,000		119,131
6.750%, due 06/25/25		75,000		74,764
6.750%, due 06/15/26		200,000		199,333
9.375%, due 07/25/30		75,000		77,160
11.500%, due 03/15/31		100,000		109,345
Newday Bondco PLC
13.250%, due 12/15/263	GBP	103,000		137,843
OneMain Finance Corp.
3.875%, due 09/15/28		25,000		22,005
4.000%, due 09/15/30		75,000		63,082
5.375%, due 11/15/29		25,000		23,119
6.625%, due 01/15/28		75,000		74,761
7.125%, due 03/15/26		400,000		403,640
7.875%, due 03/15/30		200,000		204,069
9.000%, due 01/15/29		25,000		26,209
PennyMac Financial Services, Inc.
4.250%, due 02/15/292		175,000		155,167
5.750%, due 09/15/312		75,000		67,983
7.875%, due 12/15/292		50,000		51,033
PRA Group, Inc.
7.375%, due 09/01/252		25,000		24,884
8.375%, due 02/01/282		100,000		97,548
Provident Funding Associates LP/PFG Finance Corp.
6.375%, due 06/15/252		75,000		72,170

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Diversified financial services—(continued)
Rocket Mortgage LLC/Rocket Mortgage Co.-Issuer, Inc.
3.625%, due 03/01/292		75,000	$	66,072
3.875%, due 03/01/312		75,000		63,589
4.000%, due 10/15/332		250,000		204,098
SLM Corp.
3.125%, due 11/02/26		250,000		231,910
StoneX Group, Inc.
7.875%, due 03/01/312		25,000		25,282
Synchrony Financial
7.250%, due 02/02/33		75,000		73,182
VistaJet Malta Finance PLC/Vista Management Holding, Inc.
6.375%, due 02/01/302		100,000		77,383
7.875%, due 05/01/272		150,000		133,395
World Acceptance Corp.
7.000%, due 11/01/262		150,000		139,436
				7,929,740
Electric: 3.2%
AES Andes SA
(fixed, converts to FRN on 04/07/25),
6.350%, due 10/07/793,6		200,000		193,470
AES Espana BV
5.700%, due 05/04/282		400,000		371,750
Calpine Corp.
4.500%, due 02/15/282		25,000		23,347
5.000%, due 02/01/312		50,000		45,308
5.125%, due 03/15/282		325,000		308,284
Clean Renewable Power Mauritius Pte. Ltd.
4.250%, due 03/25/272		174,000		159,754

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Electric—(continued)
Clearway Energy Operating LLC
3.750%, due 01/15/322		50,000	$	41,401
4.750%, due 03/15/282		50,000		47,117
ContourGlobal Power Holdings SA
3.125%, due 01/01/282	EUR	100,000		97,649
3.125%, due 01/01/283		200,000		195,298
Drax Finco PLC
2.625%, due 11/01/253		200,000		208,371
Electricidad Firme de Mexico Holdings SA de CV
4.900%, due 11/20/262		200,000		189,687
Electricite de France SA
(fixed, converts to FRN on 01/22/26),
5.000%, due 01/22/263,6,8	EUR	300,000		317,759
(fixed, converts to FRN on 01/29/25),
5.375%, due 01/29/253,6,8		100,000		106,495
Energia Group Roi Financeco DAC
6.875%, due 07/31/282		250,000		275,551
Eskom Holdings SOC Ltd.
6.350%, due 08/10/283		400,000		378,000
Instituto Costarricense de Electricidad
6.375%, due 05/15/433		200,000		174,500
6.750%, due 10/07/312		300,000		296,531
Investment Energy Resources Ltd.
6.250%, due 04/26/292		200,000		190,687
Leeward Renewable Energy Operations LLC
4.250%, due 07/01/292		50,000		41,379

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Electric—(continued)
Mong Duong Finance Holdings BV
5.125%, due 05/07/292		345,859	$	329,863
NRG Energy, Inc.
3.375%, due 02/15/292		50,000		43,848
3.625%, due 02/15/312		25,000		21,164
5.250%, due 06/15/292		150,000		141,869
5.750%, due 01/15/28		25,000		24,606
6.625%, due 01/15/27		46,000		45,905
(fixed, converts to FRN on 03/15/28),
10.250%, due 03/15/282,6,8		125,000		134,765
PG&E Corp.
5.000%, due 07/01/28		175,000		166,745
Pike Corp.
8.625%, due 01/31/312		25,000		26,189
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		193,000
Talen Energy Supply LLC
8.625%, due 06/01/302		125,000		132,254
TransAlta Corp.
7.750%, due 11/15/29		50,000		51,175
Vistra Corp.
(fixed, converts to FRN on 12/15/26),
7.000%, due 12/15/262,6,8		150,000		148,167
(fixed, converts to FRN on 10/15/26),
8.000%, due 10/15/262,6,8		125,000		126,294

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Electric—(continued)
Vistra Operations Co. LLC
4.375%, due 05/01/292		100,000	$	91,043
5.000%, due 07/31/272		50,000		47,586
5.500%, due 09/01/262		200,000		195,186
5.625%, due 02/15/272		25,000		24,324
6.875%, due 04/15/322		175,000		174,267
7.750%, due 10/15/312		250,000		256,398
				6,036,986
Electrical components & equipment: 0.0%†
Energizer Holdings, Inc.
6.500%, due 12/31/272		50,000		49,392
EnerSys
6.625%, due 01/15/322		25,000		24,897
Senvion Holding GmbH
3.875%, due 10/25/223,10	EUR	400,000		1,067
				75,356
Electronics: 0.7%
Coherent Corp.
5.000%, due 12/15/292		225,000		207,576
EquipmentShare.com, Inc.
8.625%, due 05/15/322		50,000		50,871
Imola Merger Corp.
4.750%, due 05/15/292		600,000		552,477
Likewize Corp.
9.750%, due 10/15/252		75,000		75,651
Sensata Technologies BV
4.000%, due 04/15/292		200,000		179,056
Sensata Technologies, Inc.
3.750%, due 02/15/312		75,000		63,381

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Electronics—(continued)
TTM Technologies, Inc.
4.000%, due 03/01/292		200,000	$	178,876
				1,307,888
Energy-Alternate Sources: 0.7%
Continuum Energy Aura Pte. Ltd.
9.500%, due 02/24/273		400,000		403,800
Continuum Energy Levanter Pte. Ltd.
4.500%, due 02/09/272		169,750		161,422
Greenko Power II Ltd.
4.300%, due 12/13/282		225,000		200,925
ReNew Pvt Ltd.
5.875%, due 03/05/272		299,000		286,442
SK Battery America, Inc.
2.125%, due 01/26/263		200,000		184,770
TerraForm Power Operating LLC
4.750%, due 01/15/302		125,000		111,416
5.000%, due 01/31/282		50,000		46,658
				1,395,433
Engineering & construction: 1.4%
Aeropuertos Argentina 2000 SA
8.500%, due 08/01/313		100,000		98,849
Aeropuertos Dominicanos Siglo XXI SA
6.750%, due 03/30/293		710,000		712,840
Arcosa, Inc.
4.375%, due 04/15/292		50,000		45,512

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Engineering & construction—(continued)
ATP Tower Holdings LLC/Andean Tower Partners Colombia SAS/Andean Telecom Partners
4.050%, due 04/27/263		200,000	$	186,250
GMR Hyderabad International Airport Ltd.
4.750%, due 02/02/262		300,000		289,155
IHS Holding Ltd.
6.250%, due 11/29/283		350,000		301,437
OHL Operaciones SA
5.100% Cash or 1.500% PIK,
9.750%, due 03/31/263,7	EUR	79,323		73,799
5.100% Cash or 4.650% PIK,
9.750%, due 03/31/262,7		206,241		191,878
Sarens Finance Co. NV
5.750%, due 02/21/273		338,000		349,820
TAV Havalimanlari Holding AS
8.500%, due 12/07/283		200,000		204,875
TopBuild Corp.
4.125%, due 02/15/322		75,000		64,931
Weekley Homes LLC/Weekley Finance Corp.
4.875%, due 09/15/282		200,000		182,915
				2,702,261
Entertainment: 3.2%
888 Acquisitions Ltd.
7.558%, due 07/15/272	EUR	175,000		179,477
Affinity Interactive
6.875%, due 12/15/272		150,000		134,258

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Corporate bonds—(continued)
Entertainment—(continued)
Allen Media LLC/Allen Media Co.-Issuer, Inc.
10.500%, due 02/15/282		25,000	$	11,827
Allwyn Entertainment Financing U.K. PLC
7.250%, due 04/30/302	EUR	125,000		138,736
Allwyn International AS
3.875%, due 02/15/273		100,000		103,785
AMC Entertainment Holdings, Inc.
5.875%, due 11/15/26		25,000		14,625
10.000% Cash or 12.000% PIK,
10.000%, due 06/15/262,7		99,932		72,527
Boyne USA, Inc.
4.750%, due 05/15/292		50,000		45,497
Caesars Entertainment, Inc.
4.625%, due 10/15/292		375,000		334,626
6.500%, due 02/15/322		75,000		73,893
7.000%, due 02/15/302		75,000		75,527
Cedar Fair LP
5.250%, due 07/15/29		102,000		95,222
Cedar Fair LP/Canada's Wonderland Co./Magnum Management Corp./Millennium Op
6.500%, due 10/01/28		200,000		199,607

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Corporate bonds—(continued)
Entertainment—(continued)
Churchill Downs, Inc.
4.750%, due 01/15/282		75,000	$	70,861
5.500%, due 04/01/272		150,000		146,057
5.750%, due 04/01/302		125,000		118,943
Cinemark USA, Inc.
5.250%, due 07/15/282		50,000		46,430
5.875%, due 03/15/262		25,000		24,685
Codere Finance 2 Luxembourg SA
8.000% Cash or 3.000% PIK,
11.000%, due 09/30/263	EUR	100,556		35,413
8.000% Cash or 3.000% PIK,
11.000%, due 09/30/262		61,563		21,681
2.000% Cash or 10.750% PIK,
12.750%, due 11/30/273		217,319		4,638
Empire Resorts, Inc.
7.750%, due 11/01/263		300,000		278,181
Everi Holdings, Inc.
5.000%, due 07/15/292		50,000		49,017
Inter Media & Communication SpA
6.750%, due 02/09/273	EUR	150,000		157,100
6.750%, due 02/09/272		100,000		104,733
International Game Technology PLC
4.125%, due 04/15/262		200,000		192,598
Jacobs Entertainment,Inc.
6.750%, due 02/15/292		225,000		213,437
LHMC Finco 2 SARL
7.250% Cash or 8.000% PIK,
7.250%, due 10/02/253,7	EUR	202,017		215,421

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Corporate bonds—(continued)
Entertainment—(continued)
Light & Wonder International, Inc.
7.000%, due 05/15/282		225,000	$	225,781
7.250%, due 11/15/292		25,000		25,214
Lions Gate Capital Holdings LLC
5.500%, due 04/15/292		50,000		38,102
Live Nation Entertainment, Inc.
3.750%, due 01/15/282		125,000		113,298
4.750%, due 10/15/272		150,000		141,371
5.625%, due 03/15/262		225,000		221,029
Lottomatica SpA
7.125%, due 06/01/282	EUR	100,000		112,190
9.750%, due 09/30/272		150,000		170,191
Melco Resorts Finance Ltd.
7.625%, due 04/17/322		200,000		196,000
Midwest Gaming Borrower LLC/Midwest Gaming Finance Corp.
4.875%, due 05/01/292		125,000		114,024
Mohegan Tribal Gaming Authority
8.000%, due 02/01/262		150,000		142,481
Motion Finco SARL
7.375%, due 06/15/302	EUR	225,000		249,425
Penn Entertainment,Inc.
4.125%, due 07/01/292		225,000		188,466
Playtech PLC
4.250%, due 03/07/263	EUR	125,000		130,495

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Corporate bonds—(continued)
Entertainment—(continued)
Premier Entertainment Sub LLC/Premier Entertainment Finance Corp.
5.625%, due 09/01/292		175,000	$	130,458
5.875%, due 09/01/312		125,000		89,756
Raptor Acquisition Corp./Raptor Co.-Issuer LLC
4.875%, due 11/01/262		75,000		71,298
Scientific Games Holdings LP/Scientific Games U.S. FinCo, Inc.
6.625%, due 03/01/302		50,000		47,301
SeaWorld Parks & Entertainment, Inc.
5.250%, due 08/15/292		150,000		138,310
Six Flags Entertainment Corp.
5.500%, due 04/15/272		25,000		24,123
WMG Acquisition Corp.
3.000%, due 02/15/312		25,000		20,753
Wynn Resorts Finance LLC/Wynn Resorts Capital Corp.
5.125%, due 10/01/292		125,000		115,985
7.125%, due 02/15/312		75,000		76,070
				5,940,923
Environmental control: 0.2%
Clean Harbors, Inc.
6.375%, due 02/01/312		50,000		49,535
Covanta Holding Corp.
5.000%, due 09/01/30		100,000		86,289
GFL Environmental, Inc.
3.500%, due 09/01/282		50,000		44,946
6.750%, due 01/15/312		50,000		50,404

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Corporate bonds—(continued)
Environmental control—(continued)
Madison IAQ LLC
5.875%, due 06/30/292		100,000	$	92,784
Paprec Holding SA
7.250%, due 11/17/292	EUR	100,000		113,523
				437,481
Food: 2.1%
Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC
3.500%, due 03/15/292		25,000		22,059
4.625%, due 01/15/272		175,000		167,210
4.875%, due 02/15/302		175,000		163,225
5.875%, due 02/15/282		50,000		48,998
6.500%, due 02/15/282		150,000		149,864
B&G Foods, Inc.
8.000%, due 09/15/282		50,000		51,813
Bellis Acquisition Co. PLC
3.250%, due 02/16/263	GBP	300,000		368,338
C&S Group Enterprises LLC
5.000%, due 12/15/282		50,000		38,335
Chobani LLC/Chobani Finance Corp., Inc.
7.625%, due 07/01/292		50,000		50,529
Ingles Markets, Inc.
4.000%, due 06/15/312		175,000		150,486
JBS USA Holding Lux SARL/ JBS USA Food Co./ JBS Lux Co. SARL
5.500%, due 01/15/30		100,000		96,530

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Corporate bonds—(continued)
Food—(continued)
KeHE Distributors LLC/KeHE Finance Corp./NextWave Distribution, Inc.
9.000%, due 02/15/292		150,000	$	151,458
Lamb Weston Holdings, Inc.
4.125%, due 01/31/302		125,000		111,413
4.375%, due 01/31/322		125,000		108,326
Market Bidco Finco PLC
5.500%, due 11/04/273	GBP	100,000		112,587
Minerva Luxembourg SA
4.375%, due 03/18/313		200,000		162,937
4.375%, due 03/18/312		250,000		203,672
Nathan's Famous, Inc.
6.625%, due 11/01/252		60,000		59,700
NBM U.S. Holdings, Inc.
7.000%, due 05/14/263		200,000		199,937
Performance Food Group, Inc.
4.250%, due 08/01/292		125,000		112,047
5.500%, due 10/15/272		50,000		48,398
Pilgrim's Pride Corp.
6.250%, due 07/01/33		75,000		74,577
Post Holdings, Inc.
4.500%, due 09/15/312		50,000		43,963
4.625%, due 04/15/302		350,000		316,092
5.500%, due 12/15/292		75,000		71,126
5.625%, due 01/15/282		25,000		24,261
Premier Foods Finance PLC
3.500%, due 10/15/263	GBP	150,000		178,544

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Corporate bonds—(continued)
Food—(continued)
Rallye SA Series COFP,
5.250%, due 02/28/323	EUR	800,000	$	85
Sigma Holdco BV
5.750%, due 05/15/263		100,000		99,570
Simmons Foods, Inc./Simmons Prepared Foods, Inc./Simmons Pet Food, Inc./Simmons Feed
4.625%, due 03/01/292		175,000		150,991
U.S. Foods, Inc.
4.750%, due 02/15/292		200,000		186,330
6.875%, due 09/15/282		50,000		50,426
7.250%, due 01/15/322		50,000		51,056
United Natural Foods, Inc.
6.750%, due 10/15/282		50,000		38,372
				3,863,255
Food service: 0.1%
TKC Holdings, Inc.
10.500%, due 05/15/292		100,000		95,685
Forest products & paper: 0.1%
Appcion
9.000%, due 06/01/254,5,9,10		650,000		6,500
Domtar Corp.
6.750%, due 10/01/282		83,000		72,475
Mercer International, Inc.
5.125%, due 02/01/29		50,000		43,670
				122,645

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Corporate bonds—(continued)
Gas: 0.4%
AmeriGas Partners LP/AmeriGas Finance Corp.
5.500%, due 05/20/25		50,000	$	49,705
5.750%, due 05/20/27		150,000		145,591
5.875%, due 08/20/26		25,000		24,582
EP Infrastructure AS
1.698%, due 07/30/263	EUR	100,000		97,843
1.816%, due 03/02/313		175,000		148,312
2.045%, due 10/09/283		150,000		138,543
UGI International LLC
2.500%, due 12/01/293		175,000		168,546
				773,122
Hand & machine tools: 0.4%
IMA Industria Macchine Automatiche SpA
3.750%, due 01/15/283		100,000		100,044
3 mo. EUR EURIBOR + 3.750%,
7.652%, due 04/15/292,6		200,000		215,660
Regal Rexnord Corp.
6.050%, due 02/15/262		50,000		50,007
6.050%, due 04/15/282		50,000		49,903
6.300%, due 02/15/302		50,000		50,214
6.400%, due 04/15/332		50,000		50,405
Werner FinCo LP/Werner FinCo, Inc.
11.500%, due 06/15/282		25,000		27,267
8.750% Cash and 5.750% PIK,
14.500%, due 10/15/282,7		130,811		123,782
				667,282

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Corporate bonds—(continued)
Healthcare-products: 0.7%
Avantor Funding, Inc.
3.875%, due 07/15/283	EUR	200,000	$	207,037
3.875%, due 11/01/292		150,000		132,810
4.625%, due 07/15/282		250,000		232,401
Bausch & Lomb Corp.
8.375%, due 10/01/282		175,000		180,731
Marcolin SpA
6.125%, due 11/15/263	EUR	100,000		107,252
Medline Borrower LP
3.875%, due 04/01/292		207,000		185,437
5.250%, due 10/01/292		375,000		349,117
				1,394,785
Healthcare-services: 2.8%
Acadia Healthcare Co., Inc.
5.000%, due 04/15/292		100,000		93,919
5.500%, due 07/01/282		125,000		120,301
AHP Health Partners, Inc.
5.750%, due 07/15/292		100,000		91,625
Catalent Pharma Solutions, Inc.
2.375%, due 03/01/283	EUR	275,000		277,970
3.125%, due 02/15/292		50,000		47,722
Charles River Laboratories International, Inc.
4.000%, due 03/15/312		82,000		71,524

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Corporate bonds—(continued)
Healthcare-services—(continued)
CHS/Community Health Systems, Inc.
4.750%, due 02/15/312		250,000	$	195,135
5.250%, due 05/15/302		125,000		102,198
5.625%, due 03/15/272		175,000		160,237
6.000%, due 01/15/292		75,000		65,433
6.125%, due 04/01/302		150,000		106,052
6.875%, due 04/01/282		23,000		15,611
6.875%, due 04/15/292		200,000		148,680
8.000%, due 03/15/262		136,000		135,338
8.000%, due 12/15/272		250,000		244,697
10.875%, due 01/15/322		350,000		358,321
DaVita, Inc.
4.625%, due 06/01/302		150,000		131,420
Encompass Health Corp.
4.750%, due 02/01/30		125,000		114,630
Ephios Subco 3 SARL
7.875%, due 01/31/312	EUR	100,000		109,271
Fortrea Holdings, Inc.
7.500%, due 07/01/302		50,000		50,436
IQVIA, Inc.
2.250%, due 03/15/293	EUR	100,000		96,479
6.500%, due 05/15/302		200,000		200,907
LifePoint Health, Inc.
5.375%, due 01/15/292		100,000		79,954
11.000%, due 10/15/302		75,000		79,829
ModivCare Escrow Issuer, Inc.
5.000%, due 10/01/292		75,000		52,102

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Corporate bonds—(continued)
Healthcare-services—(continued)
Molina Healthcare, Inc.
3.875%, due 11/15/302		100,000	$	86,729
3.875%, due 05/15/322		150,000		125,517
4.375%, due 06/15/282		150,000		139,119
Prime Healthcare Services, Inc.
7.250%, due 11/01/252		150,000		148,995
Radiology Partners, Inc.
5.000% Cash and 3.500% PIK,
8.500%, due 01/31/292,7		89,641		82,694
Select Medical Corp.
6.250%, due 08/15/262		125,000		125,047
Surgery Center Holdings, Inc.
7.250%, due 04/15/322		75,000		74,898
Tenet Healthcare Corp.
4.250%, due 06/01/29		50,000		45,799
4.375%, due 01/15/30		75,000		68,104
5.125%, due 11/01/27		175,000		169,299
6.125%, due 10/01/28		450,000		444,354
6.125%, due 06/15/30		275,000		270,297
6.250%, due 02/01/27		50,000		49,798
6.750%, due 05/15/312		250,000		250,496
U.S. Acute Care Solutions LLC
9.750%, due 05/15/292		75,000		73,548
				5,304,485
Holding companies-divers: 0.1%
Benteler International AG
9.375%, due 05/15/282	EUR	125,000		142,534

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Corporate bonds—(continued)
Holding companies-divers—(continued)
ProGroup AG
5.375%, due 04/15/312		100,000	$	106,053
				248,587
Home builders: 1.5%
Adams Homes, Inc.
7.500%, due 02/15/252		49,000		48,916
9.250%, due 10/15/282		100,000		103,262
Ashton Woods USA LLC/Ashton Woods Finance Co.
4.625%, due 08/01/292		75,000		67,831
4.625%, due 04/01/302		150,000		134,042
6.625%, due 01/15/282		100,000		99,677
Beazer Homes USA, Inc.
5.875%, due 10/15/27		50,000		48,562
7.250%, due 10/15/29		100,000		99,038
7.500%, due 03/15/312		25,000		24,711
Brookfield Residential Properties, Inc./Brookfield Residential U.S. LLC
4.875%, due 02/15/302		25,000		21,636
5.000%, due 06/15/292		125,000		110,681
Century Communities, Inc.
3.875%, due 08/15/292		75,000		65,480
Dream Finders Homes, Inc.
8.250%, due 08/15/282		100,000		103,002
Empire Communities Corp.
9.750%, due 05/01/292		75,000		76,446
Forestar Group, Inc.
3.850%, due 05/15/262		100,000		94,905
5.000%, due 03/01/282		125,000		118,397

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Corporate bonds—(continued)
Home builders—(continued)
Installed Building Products, Inc.
5.750%, due 02/01/282		150,000	$	145,540
KB Home
4.000%, due 06/15/31		125,000		108,559
6.875%, due 06/15/27		50,000		51,147
7.250%, due 07/15/30		75,000		76,773
LGI Homes, Inc.
4.000%, due 07/15/292		25,000		21,439
8.750%, due 12/15/282		100,000		104,022
Maison Finco PLC
6.000%, due 10/31/273	GBP	100,000		115,036
Mattamy Group Corp.
4.625%, due 03/01/302		125,000		111,406
Meritage Homes Corp.
6.000%, due 06/01/25		119,000		118,891
Miller Homes Group Finco PLC
7.000%, due 05/15/293	GBP	100,000		114,890
Shea Homes LP/Shea Homes Funding Corp.
4.750%, due 02/15/28		100,000		93,888
4.750%, due 04/01/29		125,000		114,672
STL Holding Co. LLC
8.750%, due 02/15/292		75,000		77,067
Taylor Morrison Communities, Inc.
5.875%, due 06/15/272		100,000		98,456
Thor Industries, Inc.
4.000%, due 10/15/292		75,000		64,844
Tri Pointe Homes, Inc.
5.700%, due 06/15/28		75,000		72,590

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Corporate bonds—(continued)
Home builders—(continued)
Winnebago Industries, Inc.
6.250%, due 07/15/282		100,000	$	97,873
				2,803,679
Home furnishings: 0.2%
Arcelik AS
8.500%, due 09/25/283		200,000		207,125
Tempur Sealy International, Inc.
4.000%, due 04/15/292		125,000		111,127
				318,252
Household products: 0.1%
Edgewell Personal Care Co.
4.125%, due 04/01/292		175,000		158,176
5.500%, due 06/01/282		75,000		72,372
				230,548
Household products/wares: 0.3%
Central Garden & Pet Co.
4.125%, due 04/30/312		100,000		86,512
Kronos Acquisition Holdings, Inc./KIK Custom Products, Inc.
7.000%, due 12/31/272		75,000		72,554
Spectrum Brands, Inc.
4.000%, due 10/01/262	EUR	325,000		342,084
5.500%, due 07/15/302		50,000		48,552
				549,702

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Corporate bonds—(continued)
Housewares: 0.4%
Newell Brands, Inc.
5.700%, due 04/01/26		250,000	$	246,013
6.375%, due 09/15/27		75,000		73,135
6.625%, due 09/15/29		50,000		48,294
6.875%, due 04/01/36		225,000		196,418
7.000%, due 04/01/46		50,000		40,565
Scotts Miracle-Gro Co.
4.000%, due 04/01/31		125,000		105,299
4.375%, due 02/01/32		50,000		42,081
				751,805
Insurance: 0.3%
Acrisure LLC/Acrisure Finance, Inc.
10.125%, due 08/01/262		25,000		25,824
AmWINS Group, Inc.
6.375%, due 02/15/292		25,000		24,697
AssuredPartners, Inc.
5.625%, due 01/15/292		100,000		91,188
HUB International Ltd.
5.625%, due 12/01/292		25,000		23,010
7.250%, due 06/15/302		75,000		76,100
MGIC Investment Corp.
5.250%, due 08/15/28		25,000		23,997
NMI Holdings, Inc.
7.375%, due 06/01/252		135,000		136,000

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Corporate bonds—(continued)
Insurance—(continued)
Tongyang Life Insurance Co. Ltd.
(fixed, converts to FRN on 09/22/25),
5.250%, due 09/22/253,6,8		200,000	$	192,062
				592,878
Internet: 1.0%
Cogent Communications Group, Inc.
7.000%, due 06/15/272		125,000		123,398
Gen Digital, Inc.
6.750%, due 09/30/272		50,000		50,186
7.125%, due 09/30/302		150,000		151,548
Go Daddy Operating Co. LLC/GD Finance Co., Inc.
3.500%, due 03/01/292		50,000		44,337
5.250%, due 12/01/272		200,000		193,091
iliad SA
2.375%, due 06/17/263	EUR	400,000		409,805
Match Group Holdings II LLC
4.125%, due 08/01/302		100,000		86,601
Millennium Escrow Corp.
6.625%, due 08/01/262		75,000		43,046
Prosus NV
3.832%, due 02/08/513		200,000		122,750
Uber Technologies, Inc.
6.250%, due 01/15/282		125,000		124,929
7.500%, due 09/15/272		50,000		50,906
8.000%, due 11/01/262		150,000		151,488
United Group BV
3.125%, due 02/15/263	EUR	200,000		205,714

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Corporate bonds—(continued)
Internet—(continued)
Ziff Davis, Inc.
4.625%, due 10/15/302		69,000	$	60,015
				1,817,814
Investment companies: 0.7%
Compass Group Diversified Holdings LLC
5.000%, due 01/15/322		75,000		66,089
5.250%, due 04/15/292		125,000		116,849
Huarong Finance 2019 Co. Ltd.
(fixed, converts to FRN on 09/30/25),
4.250%, due 09/30/253,6,8		250,000		237,500
Icahn Enterprises LP/Icahn Enterprises Finance Corp.
4.375%, due 02/01/29		50,000		42,092
5.250%, due 05/15/27		200,000		183,649
6.250%, due 05/15/26		225,000		218,827
6.375%, due 12/15/25		75,000		73,656
9.750%, due 01/15/292		75,000		77,787
Linx Capital Ltd.
15.200%, due 04/01/252,7	EUR	427,778		365,220
				1,381,669
Iron & steel: 1.2%
ATI, Inc.
4.875%, due 10/01/29		75,000		69,836
5.125%, due 10/01/31		100,000		91,111
7.250%, due 08/15/30		50,000		51,149
Baffinland Iron Mines Corp./Baffinland Iron Mines LP
8.750%, due 07/15/262		175,000		160,881

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Corporate bonds—(continued)
Iron & steel—(continued)
Big River Steel LLC/BRS Finance Corp.
6.625%, due 01/31/292		140,000	$	139,479
Carpenter Technology Corp.
6.375%, due 07/15/28		200,000		198,939
Cleveland-Cliffs, Inc.
4.875%, due 03/01/312		50,000		43,801
5.875%, due 06/01/27		225,000		222,587
6.750%, due 04/15/302		100,000		97,649
Commercial Metals Co.
4.125%, due 01/15/30		50,000		44,764
4.375%, due 03/15/32		50,000		44,119
CSN Inova Ventures
6.750%, due 01/28/283		250,000		237,266
Infrabuild Australia Pty. Ltd.
14.500%, due 11/15/282		50,000		51,599
Metinvest BV
7.750%, due 10/17/293		200,000		130,049
Mineral Resources Ltd.
8.000%, due 11/01/272		100,000		101,138
8.125%, due 05/01/272		148,000		149,389
9.250%, due 10/01/282		75,000		78,625
Samarco Mineracao SA
9.000% PIK,
9.500%, due 06/30/313,7		352,692		321,655
TMS International Corp.
6.250%, due 04/15/292		25,000		23,039
				2,257,075

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Corporate bonds—(continued)
IT services: 0.1%
Carnelian Holdings LP
50.000%, due 06/30/284,5		15,995	$	159,950
Leisure time: 3.1%
Acushnet Co.
7.375%, due 10/15/282		50,000		51,330
Carnival Corp.
5.750%, due 03/01/272		725,000		707,572
5.750%, due 01/15/302	EUR	175,000		188,173
6.000%, due 05/01/292		275,000		266,487
6.650%, due 01/15/28		100,000		99,101
7.000%, due 08/15/292		25,000		25,664
7.625%, due 03/01/262		425,000		427,636
10.500%, due 06/01/302		175,000		190,051
Carnival PLC
1.000%, due 10/28/29	EUR	325,000		272,703
Codere New Holdco SA
3.000%, due 11/30/273,4,7,9		125,662		4,526
Deuce Finco PLC
5.500%, due 06/15/272	GBP	125,000		147,408
Life Time, Inc.
5.750%, due 01/15/262		275,000		272,010
8.000%, due 04/15/262		425,000		425,745
Lindblad Expeditions LLC
6.750%, due 02/15/272		50,000		49,535
MajorDrive Holdings IV LLC
6.375%, due 06/01/292		125,000		117,302

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Corporate bonds—(continued)
Leisure time—(continued)
NCL Corp. Ltd.
5.875%, due 03/15/262		400,000	$	391,928
5.875%, due 02/15/272		50,000		48,844
7.750%, due 02/15/292		50,000		51,074
8.125%, due 01/15/292		25,000		26,036
NCL Finance Ltd.
6.125%, due 03/15/282		100,000		97,578
Pinnacle Bidco PLC
10.000%, due 10/11/283	GBP	100,000		129,691
Royal Caribbean Cruises Ltd.
4.250%, due 07/01/262		75,000		72,014
5.375%, due 07/15/272		500,000		486,582
5.500%, due 08/31/262		75,000		73,570
5.500%, due 04/01/282		50,000		48,668
6.250%, due 03/15/322		50,000		49,289
7.500%, due 10/15/27		100,000		104,156
TUI AG
5.875%, due 03/15/292	EUR	100,000		107,765
TUI Cruises GmbH
6.250%, due 04/15/292		100,000		107,520
Viking Cruises Ltd.
5.875%, due 09/15/272		350,000		339,348
6.250%, due 05/15/252		75,000		74,760
7.000%, due 02/15/292		100,000		99,621
Viking Ocean Cruises Ship VII Ltd.
5.625%, due 02/15/292		75,000		71,771
VOC Escrow Ltd.
5.000%, due 02/15/282		150,000		143,052
				5,768,510

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Corporate bonds—(continued)
Lodging: 2.1%
Boyd Gaming Corp.
4.750%, due 12/01/27		25,000	$	23,685
4.750%, due 06/15/312		250,000		221,377
Fortune Star BVI Ltd.
3.950%, due 10/02/263	EUR	100,000		90,538
Full House Resorts, Inc.
8.250%, due 02/15/282		175,000		167,026
Grupo Posadas SAB de CV
7.000%, due 12/30/273,6		150,000		138,375
Hilton Domestic Operating Co., Inc.
3.625%, due 02/15/322		125,000		105,040
4.000%, due 05/01/312		325,000		284,777
4.875%, due 01/15/30		50,000		47,001
5.750%, due 05/01/282		125,000		123,558
Hilton Grand Vacations Borrower Escrow LLC/Hilton Grand Vacations Borrower Escrow, Inc.
4.875%, due 07/01/312		200,000		174,135
5.000%, due 06/01/292		275,000		250,127
Melco Resorts Finance Ltd.
5.250%, due 04/26/262		300,000		288,375
MGM Resorts International
4.750%, due 10/15/28		100,000		93,276
5.500%, due 04/15/27		75,000		73,137
6.500%, due 04/15/32		100,000		97,022
6.750%, due 05/01/25		25,000		24,972
Station Casinos LLC
4.500%, due 02/15/282		25,000		23,188
4.625%, due 12/01/312		50,000		43,827

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Corporate bonds—(continued)
Lodging—(continued)
Studio City Finance Ltd.
5.000%, due 01/15/292		200,000	$	171,500
5.000%, due 01/15/293		250,000		214,375
Travel & Leisure Co.
4.625%, due 03/01/302		75,000		66,992
6.625%, due 07/31/262		100,000		100,114
TVL Finance PLC
3 mo. EUR EURIBOR + 5.500%,
9.364%, due 04/28/282,6	EUR	100,000		107,120
10.250%, due 04/28/282	GBP	275,000		355,825
Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp.
5.250%, due 05/15/272		150,000		144,956
Wynn Macau Ltd.
5.500%, due 01/15/263		300,000		291,562
5.500%, due 10/01/273		200,000		188,250
				3,910,130
Machinery-construction & mining: 0.1%
BWX Technologies, Inc.
4.125%, due 04/15/292		75,000		68,323
Terex Corp.
5.000%, due 05/15/292		150,000		140,332
Vertiv Group Corp.
4.125%, due 11/15/282		25,000		23,153
				231,808
Machinery-diversified: 0.8%
ATS Corp.
4.125%, due 12/15/282		25,000		22,475

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Corporate bonds—(continued)
Machinery-diversified—(continued)
Chart Industries, Inc.
7.500%, due 01/01/302		150,000	$	153,421
9.500%, due 01/01/312		125,000		134,188
Esab Corp.
6.250%, due 04/15/292		50,000		49,812
EVOCA SpA
3 mo. EUR EURIBOR + 5.250%,
9.135%, due 04/09/292,6	EUR	100,000		107,387
Galapagos SA
5.375%, due 06/15/213,10		27,500		147
GrafTech Global Enterprises, Inc.
9.875%, due 12/15/282		50,000		37,590
Husky Injection Molding Systems Ltd./Titan Co.-Borrower LLC
9.000%, due 02/15/292		75,000		77,201
Mangrove Luxco III SARL
7.775%, due 10/09/253,7	EUR	234,844		247,493
OT Merger Corp.
7.875%, due 10/15/292		50,000		32,500
Selecta Group BV
3.500% Cash or 4.500% PIK,
8.000%, due 04/01/262,7	EUR	207,887		212,816
10.000%, due 07/01/262,7		88,944		81,108
9.250% Cash or 10.000% PIK,
10.000%, due 07/01/263,7		73,908		67,397
TK Elevator Midco GmbH
4.375%, due 07/15/273		325,000		331,582
				1,555,117

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Corporate bonds—(continued)
Media: 4.8%
Altice Financing SA
2.250%, due 01/15/253		100,000	$	103,118
3.000%, due 01/15/283		275,000		236,952
4.250%, due 08/15/293		275,000		230,382
5.000%, due 01/15/282		200,000		157,841
9.625%, due 07/15/272		200,000		188,045
AMC Networks, Inc.
4.250%, due 02/15/29		200,000		135,385
10.250%, due 01/15/292		25,000		24,954
Audacy Capital Corp.
0.000%, due 03/31/292,10		75,000		2,567
CCO Holdings LLC/CCO Holdings Capital Corp.
4.250%, due 02/01/312		275,000		215,227
4.250%, due 01/15/342		425,000		307,917
4.500%, due 05/01/32		50,000		38,391
4.500%, due 06/01/332		675,000		507,595
4.750%, due 03/01/302		225,000		186,963
4.750%, due 02/01/322		650,000		511,182
5.000%, due 02/01/282		175,000		159,369
5.375%, due 06/01/292		50,000		44,040
6.375%, due 09/01/292		200,000		183,336
7.375%, due 03/01/312		125,000		118,617
CSC Holdings LLC
4.500%, due 11/15/312		400,000		253,836
4.625%, due 12/01/302		350,000		151,912
5.000%, due 11/15/312		200,000		85,132
11.750%, due 01/31/292		200,000		177,685

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Corporate bonds—(continued)
Media—(continued)
Directv Financing LLC/Directv Financing Co.-Obligor, Inc.
5.875%, due 08/15/272		300,000	$	279,623
DISH DBS Corp.
5.125%, due 06/01/29		125,000		50,210
5.250%, due 12/01/262		75,000		58,979
5.750%, due 12/01/282		150,000		101,292
7.375%, due 07/01/28		175,000		78,389
7.750%, due 07/01/26		50,000		31,379
DISH Network Corp.
11.750%, due 11/15/272		275,000		277,210
Gray Television, Inc.
4.750%, due 10/15/302		300,000		181,103
5.375%, due 11/15/312		125,000		75,138
iHeartCommunications, Inc.
4.750%, due 01/15/282		50,000		35,703
5.250%, due 08/15/272		150,000		110,050
6.375%, due 05/01/26		30,291		25,600
8.375%, due 05/01/27		75,000		40,248
Liberty Interactive LLC
8.250%, due 02/01/30		25,000		13,852
McGraw-Hill Education, Inc.
8.000%, due 08/01/292		125,000		114,812
Midcontinent Communications/Midcontinent Finance Corp.
5.375%, due 08/15/272		125,000		119,330

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Corporate bonds—(continued)
Media—(continued)
News Corp.
3.875%, due 05/15/292		225,000	$	202,645
5.125%, due 02/15/322		200,000		183,256
Nexstar Media, Inc.
4.750%, due 11/01/282		25,000		22,194
5.625%, due 07/15/272		50,000		47,019
RCS & RDS SA
2.500%, due 02/05/253	EUR	100,000		104,451
Scripps Escrow II, Inc.
5.375%, due 01/15/312		50,000		29,501
Scripps Escrow, Inc.
5.875%, due 07/15/272		25,000		19,674
Sinclair Television Group, Inc.
4.125%, due 12/01/302		100,000		69,312
5.125%, due 02/15/272		100,000		90,015
Sirius XM Radio, Inc.
3.875%, due 09/01/312		350,000		281,481
4.000%, due 07/15/282		125,000		111,428
5.000%, due 08/01/272		75,000		70,829
5.500%, due 07/01/292		175,000		162,442
Sunrise FinCo I BV
4.875%, due 07/15/312		400,000		348,308
TEGNA, Inc.
4.625%, due 03/15/28		25,000		22,530
5.000%, due 09/15/29		25,000		22,039
Univision Communications, Inc.
4.500%, due 05/01/292		475,000		413,213
7.375%, due 06/30/302		125,000		119,698
8.000%, due 08/15/282		25,000		24,970
Videotron Ltd.
3.625%, due 06/15/292		100,000		88,884

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Corporate bonds—(continued)
Media—(continued)
Virgin Media Finance PLC
5.000%, due 07/15/302		200,000	$	163,789
Virgin Media Secured Finance PLC
4.125%, due 08/15/303	GBP	200,000		205,863
Virgin Media Vendor Financing Notes III DAC
4.875%, due 07/15/283		100,000		111,372
VZ Vendor Financing II BV
2.875%, due 01/15/292	EUR	300,000		275,751
Ziggo Bond Co. BV
6.000%, due 01/15/272		200,000		196,635
				9,000,663
Metal fabricate/hardware: 0.2%
Advanced Drainage Systems, Inc.
5.000%, due 09/30/272		75,000		72,626
Park-Ohio Industries, Inc.
6.625%, due 04/15/27		175,000		166,264
Roller Bearing Co. of America, Inc.
4.375%, due 10/15/292		75,000		67,782
				306,672
Mining: 1.6%
Arsenal AIC Parent LLC
8.000%, due 10/01/302		150,000		156,175
11.500%, due 10/01/312		50,000		55,674
Coeur Mining, Inc.
5.125%, due 02/15/292		100,000		93,527
Compass Minerals International, Inc.
6.750%, due 12/01/272		25,000		23,445

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Corporate bonds—(continued)
Mining—(continued)
Constellium SE
3.125%, due 07/15/292	EUR	275,000	$	270,143
First Quantum Minerals Ltd.
6.875%, due 10/15/273		500,000		480,000
9.375%, due 03/01/292		200,000		208,064
FMG Resources August 2006 Pty. Ltd.
4.375%, due 04/01/312		275,000		242,122
5.875%, due 04/15/302		150,000		144,205
6.125%, due 04/15/322		150,000		145,244
Hudbay Minerals, Inc.
4.500%, due 04/01/262		75,000		72,536
IAMGOLD Corp.
5.750%, due 10/15/282		50,000		46,094
Kaiser Aluminum Corp.
4.500%, due 06/01/312		25,000		21,897
4.625%, due 03/01/282		125,000		116,382
Novelis Corp.
3.250%, due 11/15/262		100,000		93,496
3.875%, due 08/15/312		50,000		42,341
4.750%, due 01/30/302		25,000		22,876
Novelis Sheet Ingot GmbH
3.375%, due 04/15/293	EUR	100,000		100,268
Taseko Mines Ltd.
8.250%, due 05/01/302		50,000		50,799
Vedanta Resources Finance II PLC
13.875%, due 01/21/273		94,000		88,243
Vedanta Resources Ltd.
13.875%, due 12/09/283		376,000		334,052

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Corporate bonds—(continued)
Mining—(continued)
WE Soda Investments Holding PLC
9.500%, due 10/06/283		200,000	$	206,400
				3,013,983
Miscellaneous manufacturers: 0.4%
Amsted Industries, Inc.
4.625%, due 05/15/302		25,000		22,480
Ctec II GmbH
5.250%, due 02/15/303	EUR	200,000		189,740
FXI Holdings, Inc.
12.250%, due 11/15/262		234,000		232,020
12.250%, due 11/15/262		94,000		93,036
LSB Industries, Inc.
6.250%, due 10/15/282		25,000		23,699
Trinity Industries, Inc.
7.750%, due 07/15/282		125,000		127,752
				688,727
Office & business equipment: 0.0%†
Xerox Holdings Corp.
5.000%, due 08/15/252		51,000		49,552
8.875%, due 11/30/292		25,000		23,817
				73,369
Oil & gas: 9.4%
Aethon United BR LP/Aethon United Finance Corp.
8.250%, due 02/15/262		100,000		100,646
Antero Resources Corp.
7.625%, due 02/01/292		49,000		50,188
Ascent Resources Utica Holdings LLC/ARU Finance Corp.
8.250%, due 12/31/282		25,000		25,509
9.000%, due 11/01/272		150,000		187,233

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Corporate bonds—(continued)
Oil & gas—(continued)
Athabasca Oil Corp.
9.750%, due 11/01/262		108,000	$	113,115
Baytex Energy Corp.
8.500%, due 04/30/302		150,000		156,392
Chesapeake Energy Corp.
5.500%, due 02/01/262		50,000		49,367
6.750%, due 04/15/292		250,000		249,806
Chord Energy Corp.
6.375%, due 06/01/262		75,000		74,970
CITGO Petroleum Corp.
7.000%, due 06/15/252		150,000		149,846
8.375%, due 01/15/292		250,000		258,722
Civitas Resources, Inc.
5.000%, due 10/15/262		175,000		169,271
8.375%, due 07/01/282		50,000		52,159
8.625%, due 11/01/302		50,000		53,207
CNX Resources Corp.
6.000%, due 01/15/292		125,000		121,111
7.375%, due 01/15/312		25,000		25,307
Comstock Resources, Inc.
5.875%, due 01/15/302		100,000		91,077
6.750%, due 03/01/292		125,000		119,014
Cosan Overseas Ltd.
8.250%, due 08/05/243,8		300,000		304,160
Crescent Energy Finance LLC
7.625%, due 04/01/322		25,000		25,093
9.250%, due 02/15/282		50,000		52,823
CrownRock LP/CrownRock Finance, Inc.
5.000%, due 05/01/292		25,000		24,630

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Oil & gas—(continued)
Ecopetrol SA
4.625%, due 11/02/31		500,000	$	402,435
5.875%, due 05/28/45		350,000		248,500
8.375%, due 01/19/36		200,000		194,116
8.625%, due 01/19/29		200,000		208,125
Encino Acquisition Partners Holdings LLC
8.750%, due 05/01/312		25,000		25,456
Energean Israel Finance Ltd.
4.875%, due 03/30/263		300,000		282,281
5.875%, due 03/30/313		75,000		64,008
FORESEA Holding SA
7.500%, due 06/15/303		100,000		92,801
Global Marine, Inc.
7.000%, due 06/01/28		125,000		114,639
Gulfport Energy Corp.
8.000%, due 05/17/26		292		296
8.000%, due 05/17/262		170,052		172,243
Hilcorp Energy I LP/Hilcorp Finance Co.
6.000%, due 04/15/302		100,000		95,749
6.000%, due 02/01/312		175,000		167,062
6.250%, due 11/01/282		75,000		73,897
8.375%, due 11/01/332		50,000		53,635
Ithaca Energy North Sea PLC
9.000%, due 07/15/262		200,000		201,307
Leviathan Bond Ltd.
6.125%, due 06/30/253		75,000		73,125

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Oil & gas—(continued)
Magnolia Oil & Gas Operating LLC/Magnolia Oil & Gas Finance Corp.
6.000%, due 08/01/262		175,000	$	172,668
Matador Resources Co.
6.500%, due 04/15/322		25,000		24,777
6.875%, due 04/15/282		75,000		75,575
MC Brazil Downstream Trading SARL
7.250%, due 06/30/313		237,688		205,303
Medco Laurel Tree Pte. Ltd.
6.950%, due 11/12/282		400,000		382,200
Moss Creek Resources Holdings, Inc.
7.500%, due 01/15/262		125,000		124,649
10.500%, due 05/15/272		75,000		76,700
Murphy Oil Corp.
6.375%, due 07/15/28		118,000		117,891
Nabors Industries Ltd.
7.250%, due 01/15/262		50,000		49,522
7.500%, due 01/15/282		100,000		94,815
Nabors Industries, Inc.
9.125%, due 01/31/302		25,000		25,780
Northern Oil & Gas, Inc.
8.125%, due 03/01/282		275,000		278,205
8.750%, due 06/15/312		100,000		105,190
Pan American Energy LLC
8.500%, due 04/30/322		225,000		225,900

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Oil & gas—(continued)
Parkland Corp.
4.500%, due 10/01/292		250,000	$	226,571
4.625%, due 05/01/302		100,000		90,374
5.875%, due 07/15/272		150,000		146,247
PBF Holding Co. LLC/PBF Finance Corp.
6.000%, due 02/15/28		275,000		268,205
7.875%, due 09/15/302		125,000		128,561
Permian Resources Operating LLC
5.375%, due 01/15/262		300,000		296,454
5.875%, due 07/01/292		150,000		145,779
7.000%, due 01/15/322		200,000		203,883
8.000%, due 04/15/272		100,000		102,670
Petrobras Global Finance BV
6.500%, due 07/03/33		250,000		245,574
6.850%, due 06/05/15		200,000		173,055

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Oil & gas—(continued)
Petroleos Mexicanos
2.750%, due 04/21/273	EUR	475,000	$	438,011
3.750%, due 04/16/263		100,000		99,837
4.750%, due 02/26/293		275,000		250,467
5.950%, due 01/28/31		300,000		237,075
6.500%, due 03/13/27		250,000		234,512
6.500%, due 06/02/41		1,250,000		827,812
6.625%, due 06/15/35		477,000		352,317
6.700%, due 02/16/32		700,000		573,370
6.750%, due 09/21/47		479,000		305,386
6.875%, due 10/16/25		700,000		689,937
6.950%, due 01/28/60		250,000		159,100
7.690%, due 01/23/50		1,150,000		802,585
10.000%, due 02/07/33		100,000		98,000
Precision Drilling Corp.
6.875%, due 01/15/292		100,000		98,962
7.125%, due 01/15/262		91,000		90,995
Raizen Fuels Finance SA
6.950%, due 03/05/542		200,000		194,600
Range Resources Corp.
8.250%, due 01/15/29		150,000		156,285
Rockcliff Energy II LLC
5.500%, due 10/15/292		25,000		23,044
Sanchez Energy Corp.
6.125%, due 01/15/23		325,000		16,250
7.750%, due 06/15/2110		475,000		23,750

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Oil & gas—(continued)
Shelf Drilling North Sea Holdings Ltd.
10.250%, due 10/31/252		49,000	$	49,490
SM Energy Co.
5.625%, due 06/01/25		50,000		49,629
6.750%, due 09/15/26		100,000		99,973
Southwestern Energy Co.
4.750%, due 02/01/32		25,000		22,514
5.375%, due 03/15/30		25,000		23,740
8.375%, due 09/15/28		125,000		129,042
Sunoco LP
7.000%, due 05/01/292		50,000		50,779
7.250%, due 05/01/322		25,000		25,391
Sunoco LP/Sunoco Finance Corp.
4.500%, due 04/30/30		100,000		89,985
6.000%, due 04/15/27		150,000		148,186
7.000%, due 09/15/282		75,000		76,064
Talos Production, Inc.
9.000%, due 02/01/292		75,000		79,130
9.375%, due 02/01/312		75,000		79,927
Teine Energy Ltd.
6.875%, due 04/15/292		125,000		121,447
Transocean Aquila Ltd.
8.000%, due 09/30/282		50,000		50,855
Transocean Titan Financing Ltd.
8.375%, due 02/01/282		50,000		51,328

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Oil & gas—(continued)
Transocean, Inc.
6.800%, due 03/15/38		175,000	$	141,652
7.500%, due 04/15/31		125,000		112,838
8.000%, due 02/01/272		86,000		86,208
8.250%, due 05/15/292		75,000		74,568
8.500%, due 05/15/312		25,000		24,887
8.750%, due 02/15/302		22,500		23,460
9.350%, due 12/15/41		125,000		116,239
Tullow Oil PLC
10.250%, due 05/15/263		550,000		530,578
Valaris Ltd.
8.375%, due 04/30/302		25,000		25,710
Vermilion Energy, Inc.
6.875%, due 05/01/302		125,000		121,657
Vital Energy, Inc.
7.750%, due 07/31/292		100,000		100,655
7.875%, due 04/15/322		125,000		126,839
9.750%, due 10/15/30		75,000		81,720
YPF SA
6.950%, due 07/21/273		100,000		90,563
8.500%, due 03/23/253		50,000		49,338
8.500%, due 07/28/253		200,000		194,800
				17,631,356
Oil & gas services: 0.9%
Archrock Partners LP/Archrock Partners Finance Corp.
6.250%, due 04/01/282		175,000		171,441
6.875%, due 04/01/272		75,000		74,818
Bristow Group, Inc.
6.875%, due 03/01/282		125,000		121,231

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Oil & gas services—(continued)
Enerflex Ltd.
9.000%, due 10/15/272		100,000	$	102,402
Helix Energy Solutions Group, Inc.
9.750%, due 03/01/292		125,000		132,872
Kodiak Gas Services LLC
7.250%, due 02/15/292		50,000		50,361
Nine Energy Service, Inc.
13.000%, due 02/01/28		150,000		118,893
Oceaneering International, Inc.
6.000%, due 02/01/28		25,000		24,589
USA Compression Partners LP/USA Compression Finance Corp.
6.875%, due 09/01/27		75,000		74,875
7.125%, due 03/15/292		125,000		124,200
Weatherford International Ltd.
8.625%, due 04/30/302		575,000		597,075
				1,592,757
Packaging & containers: 1.6%
ARD Finance SA
5.000% Cash or 5.750% PIK,
5.000%, due 06/30/273,7	EUR	175,000		40,154
6.500% Cash or 7.250% PIK,
6.500%, due 06/30/272,7		400,000		98,649
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC
6.000%, due 06/15/272		200,000		193,872

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Packaging & containers—(continued)
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc.
2.125%, due 08/15/263	EUR	100,000	$	84,305
5.250%, due 08/15/272		200,000		102,000
Ball Corp.
3.125%, due 09/15/31		125,000		103,811
6.000%, due 06/15/29		150,000		149,255
6.875%, due 03/15/28		125,000		126,968
Berry Global, Inc.
4.500%, due 02/15/262		50,000		48,580
5.625%, due 07/15/272		75,000		73,144
Clydesdale Acquisition Holdings, Inc.
6.625%, due 04/15/292		25,000		24,937
Crown Americas LLC
5.250%, due 04/01/30		25,000		23,822
Crown Americas LLC/Crown Americas Capital Corp. VI
4.750%, due 02/01/26		50,000		48,927
Crown Cork & Seal Co., Inc.
7.375%, due 12/15/26		100,000		103,195
Graphic Packaging International LLC
2.625%, due 02/01/293	EUR	125,000		123,580
4.750%, due 07/15/272		25,000		23,890
Guala Closures SpA
3.250%, due 06/15/283	EUR	150,000		148,787
Intelligent Packaging Holdco Issuer LP
9.000% Cash or 9.7500% PIK,
9.000%, due 01/15/262,7		75,000		71,267

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Packaging & containers—(continued)
Kleopatra Holdings 2 SCA
6.500%, due 09/01/263	EUR	125,000	$	62,405
LABL, Inc.
10.500%, due 07/15/272		50,000		49,110
Mauser Packaging Solutions Holding Co.
9.250%, due 04/15/272		75,000		73,498
OI European Group BV
2.875%, due 02/15/253	EUR	125,000		131,325
4.750%, due 02/15/302		225,000		205,493
Owens-Brockway Glass Container, Inc.
6.375%, due 08/15/252		25,000		25,093
6.625%, due 05/13/272		163,000		162,865
7.250%, due 05/15/312		100,000		100,153
Sealed Air Corp.
4.000%, due 12/01/272		181,000		167,429
5.000%, due 04/15/292		75,000		70,561
Sealed Air Corp./Sealed Air Corp. U.S.
6.125%, due 02/01/282		25,000		24,695
7.250%, due 02/15/312		50,000		50,901
Trident TPI Holdings, Inc.
12.750%, due 12/31/282		25,000		27,054
TriMas Corp.
4.125%, due 04/15/292		150,000		134,639
Trivium Packaging Finance BV
3.750%, due 08/15/263	EUR	100,000		103,854
				2,978,218

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Pharmaceuticals: 2.2%
Bausch Health Americas, Inc.
8.500%, due 01/31/272		50,000	$	32,374
9.250%, due 04/01/262		25,000		23,139
Bausch Health Cos., Inc.
5.000%, due 01/30/282		75,000		33,938
5.250%, due 01/30/302		125,000		53,750
5.250%, due 02/15/312		125,000		51,893
5.500%, due 11/01/252		150,000		139,717
5.750%, due 08/15/272		50,000		34,500
6.125%, due 02/01/272		100,000		73,250
7.000%, due 01/15/282		75,000		36,743
7.250%, due 05/30/292		125,000		56,719
9.000%, due 12/15/252		175,000		165,344
BellRing Brands, Inc.
7.000%, due 03/15/302		175,000		177,087
Endo Dac/Endo Finance LLC/Endo Finco, Inc.
0.000%, due 07/31/272,10		215,000		19,026
0.000%, due 06/30/282,10		129,000		10,456
Endo Finance Holdings, Inc.
8.500%, due 04/15/312		25,000		25,402
Endo Luxembourg Finance Co. I SARL/Endo U.S., Inc.
6.125%, due 04/01/292,10		125,000		77,367
Grifols SA
1.625%, due 02/15/253	EUR	325,000		338,169
3.200%, due 05/01/253		100,000		106,155

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Pharmaceuticals—(continued)
Gruenenthal GmbH
3.625%, due 11/15/263		100,000	$	104,179
6.750%, due 05/15/302		100,000		112,133
Herbalife Nutrition Ltd./HLF Financing, Inc.
7.875%, due 09/01/252		62,000		59,470
HLF Financing SARL LLC/Herbalife International, Inc.
4.875%, due 06/01/292		25,000		14,685
Mallinckrodt International Finance SA/Mallinckrodt CB LLC
14.750%, due 11/14/282		24,504		26,695
Nidda BondCo GmbH
5.000%, due 09/30/253	EUR	100,000		105,337
Nidda Healthcare Holding GmbH
7.500%, due 08/21/263		250,000		274,797
Organon & Co./Organon Foreign Debt Co.-Issuer BV
2.875%, due 04/30/282		105,000		103,940
4.125%, due 04/30/282		200,000		182,151
5.125%, due 04/30/312		200,000		172,940
Owens & Minor, Inc.
4.500%, due 03/31/292		125,000		112,058
6.625%, due 04/01/302		100,000		97,029
P&L Development LLC/PLD Finance Corp.
7.750%, due 11/15/252		125,000		105,867

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Pharmaceuticals—(continued)
Par Pharmaceutical, Inc.
0.000%, due 04/01/272,10		198,000	$	127,280
Prestige Brands, Inc.
3.750%, due 04/01/312		25,000		21,267
5.125%, due 01/15/282		100,000		96,006
Teva Pharmaceutical Finance Netherlands II BV
4.375%, due 05/09/30	EUR	125,000		127,492
4.500%, due 03/01/25		275,000		291,279
7.375%, due 09/15/29		150,000		176,688
7.875%, due 09/15/31		200,000		245,189
Teva Pharmaceutical Finance Netherlands III BV
4.100%, due 10/01/46		200,000		133,776
				4,145,287
Pipelines: 3.9%
Antero Midstream Partners LP/Antero Midstream Finance Corp.
5.375%, due 06/15/292		25,000		23,789
5.750%, due 03/01/272		150,000		147,271
6.625%, due 02/01/322		75,000		74,774
7.875%, due 05/15/262		125,000		127,272
Blue Racer Midstream LLC/Blue Racer Finance Corp.
7.625%, due 12/15/252		100,000		100,439
CQP Holdco LP/BIP-V Chinook Holdco LLC
5.500%, due 06/15/312		250,000		229,734

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Pipelines—(continued)
Delek Logistics Partners LP/Delek Logistics Finance Corp.
7.125%, due 06/01/282		100,000	$	97,671
8.625%, due 03/15/292		225,000		226,702
DT Midstream, Inc.
4.125%, due 06/15/292		25,000		22,659
4.375%, due 06/15/312		75,000		66,582
Energy Transfer LP (fixed, converts to FRN on 05/15/29),
8.000%, due 05/15/546		25,000		25,745
EnLink Midstream LLC
5.625%, due 01/15/282		25,000		24,564
6.500%, due 09/01/302		50,000		50,628
EnLink Midstream Partners LP
5.050%, due 04/01/45		75,000		60,318
5.450%, due 06/01/47		125,000		105,968
5.600%, due 04/01/44		150,000		129,897
EQM Midstream Partners LP
4.500%, due 01/15/292		225,000		208,176
4.750%, due 01/15/312		300,000		274,120
5.500%, due 07/15/28		100,000		97,407
6.375%, due 04/01/292		50,000		49,534
6.500%, due 07/01/272		25,000		25,035
7.500%, due 06/01/272		75,000		76,412
7.500%, due 06/01/302		75,000		78,643
Galaxy Pipeline Assets Bidco Ltd.
1.750%, due 09/30/273		112,240		104,278

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Pipelines—(continued)
Genesis Energy LP/Genesis Energy Finance Corp.
7.750%, due 02/01/28		25,000	$	24,994
8.000%, due 01/15/27		50,000		50,564
8.875%, due 04/15/30		50,000		51,740
Harvest Midstream I LP
7.500%, due 09/01/282		200,000		200,548
7.500%, due 05/15/322		75,000		75,093
Hess Midstream Operations LP
5.125%, due 06/15/282		225,000		215,359
5.500%, due 10/15/302		50,000		47,807
Howard Midstream Energy Partners LLC
6.750%, due 01/15/272		100,000		98,658
8.875%, due 07/15/282		100,000		104,738
ITT Holdings LLC
6.500%, due 08/01/292		150,000		135,483
Kinetik Holdings LP
5.875%, due 06/15/302		125,000		120,859
Martin Midstream Partners LP/Martin Midstream Finance Corp.
11.500%, due 02/15/282		150,000		159,125
New Fortress Energy, Inc.
6.500%, due 09/30/262		100,000		95,626
6.750%, due 09/15/252		179,000		176,800
8.750%, due 03/15/292		25,000		24,381
NGL Energy Operating LLC/NGL Energy Finance Corp.
8.125%, due 02/15/292		225,000		228,582
8.375%, due 02/15/322		100,000		101,615

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Pipelines—(continued)
NuStar Logistics LP
6.375%, due 10/01/30		125,000	$	123,579
Plains All American Pipeline LP
Series B,
3 mo. USD Term SOFR + 4.372%,
9.679%, due 05/31/246,8		225,000		222,457
Prairie Acquiror LP
9.000%, due 08/01/292		75,000		76,606
Rockies Express Pipeline LLC
3.600%, due 05/15/252		50,000		48,449
4.800%, due 05/15/302		50,000		45,015
4.950%, due 07/15/292		25,000		22,983
6.875%, due 04/15/402		100,000		95,057
7.500%, due 07/15/382		25,000		25,644
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp.
6.000%, due 12/31/302		125,000		117,583
6.000%, due 09/01/312		100,000		92,842
7.375%, due 02/15/292		75,000		75,082
Transportadora de Gas del Sur SA
6.750%, due 05/02/252		600,000		580,500
Venture Global Calcasieu Pass LLC
3.875%, due 11/01/332		225,000		184,734
4.125%, due 08/15/312		25,000		21,819
6.250%, due 01/15/302		100,000		98,872

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Pipelines—(continued)
Venture Global LNG, Inc.
8.125%, due 06/01/282		300,000	$	306,740
8.375%, due 06/01/312		225,000		230,898
9.500%, due 02/01/292		200,000		214,972
9.875%, due 02/01/322		250,000		266,777
Western Midstream Operating LP
5.300%, due 03/01/48		75,000		62,717
				7,252,916
Real estate: 1.5%
Alpha Star Holding VIII Ltd.
8.375%, due 04/12/273		200,000		203,437
Anywhere Real Estate Group LLC/Anywhere Co.-Issuer Corp.
7.000%, due 04/15/302		169,400		148,639
Canary Wharf Group Investment Holdings PLC
2.625%, due 04/23/253	GBP	100,000		115,940
Greystar Real Estate Partners LLC
7.750%, due 09/01/302		75,000		77,249
Howard Hughes Corp.
4.125%, due 02/01/292		125,000		110,383
5.375%, due 08/01/282		250,000		235,258
Kennedy-Wilson, Inc.
4.750%, due 02/01/30		50,000		39,600
Longfor Group Holdings Ltd.
3.850%, due 01/13/323		400,000		213,302

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Real estate—(continued)
MAF Global Securities Ltd. (fixed, converts to FRN on 03/20/26),
6.375%, due 03/20/263,6,8		200,000	$	197,562
Newmark Group, Inc.
7.500%, due 01/12/292		25,000		25,241
Pakuwon Jati Tbk. PT
4.875%, due 04/29/283		200,000		185,062
Peach Property Finance GmbH
4.375%, due 11/15/253	EUR	200,000		182,843
PHM Group Holding OY
4.750%, due 06/18/263		250,000		256,128
Pingan Real Estate Capital Ltd.
3.450%, due 07/29/263		200,000		163,562
Realogy Group LLC/Realogy Co.-Issuer Corp.
5.750%, due 01/15/292		50,000		34,901
Ronshine China Holdings Ltd.
8.100%, due 06/09/233,10		50,000		750
Samhallsbyggnadsbolaget i Norden AB
2.375%, due 09/04/263	EUR	100,000		80,180
Signa Development Finance SCS
5.500%, due 07/23/263,10		100,000		13,395
5.500%, due 07/23/262,10		200,000		26,791
Vivion Investments SARL
3.000%, due 08/08/243		100,000		102,905

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Real estate—(continued)
Yanlord Land HK Co. Ltd.
5.125%, due 05/20/263		400,000	$	322,250
				2,735,378
Real estate investment trusts: 2.5%
Blackstone Mortgage Trust, Inc.
3.750%, due 01/15/272		225,000		201,572
Brandywine Operating Partnership LP
8.875%, due 04/12/29		25,000		25,584
Diversified Healthcare Trust
9.750%, due 06/15/25		100,000		100,189
HAT Holdings I LLC/HAT Holdings II LLC
3.750%, due 09/15/302		25,000		20,742
8.000%, due 06/15/272		125,000		128,144
Iron Mountain Information Management Services, Inc.
5.000%, due 07/15/322		375,000		332,355
Iron Mountain U.K. PLC
3.875%, due 11/15/252	GBP	100,000		121,204
Iron Mountain, Inc.
4.500%, due 02/15/312		225,000		198,454
4.875%, due 09/15/272		125,000		119,291
4.875%, due 09/15/292		75,000		69,207
5.000%, due 07/15/282		50,000		47,119
5.250%, due 07/15/302		250,000		232,035

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Real estate investment trusts—(continued)
Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp.
4.250%, due 02/01/272		25,000	$	23,149
4.750%, due 06/15/292		50,000		44,623
MPT Operating Partnership LP/MPT Finance Corp.
3.375%, due 04/24/30	GBP	250,000		210,081
3.500%, due 03/15/31		250,000		167,632
4.625%, due 08/01/29		50,000		37,415
5.000%, due 10/15/27		200,000		163,592
5.250%, due 08/01/26		100,000		91,082
Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co.-Issuer
4.875%, due 05/15/292		125,000		114,379
5.875%, due 10/01/282		50,000		48,390
7.500%, due 06/01/252		100,000		99,982
RHP Hotel Properties LP/RHP Finance Corp.
4.500%, due 02/15/292		100,000		91,983
6.500%, due 04/01/322		100,000		98,006
7.250%, due 07/15/282		50,000		50,775
Rithm Capital Corp.
8.000%, due 04/01/292		75,000		73,340
RLJ Lodging Trust LP
3.750%, due 07/01/262		200,000		188,220
4.000%, due 09/15/292		200,000		173,460
SBA Communications Corp.
3.875%, due 02/15/27		25,000		23,495

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Real estate investment trusts—(continued)
Service Properties Trust
4.375%, due 02/15/30		50,000	$	38,052
4.750%, due 10/01/26		125,000		116,065
4.950%, due 02/15/27		50,000		46,016
4.950%, due 10/01/29		75,000		61,329
5.250%, due 02/15/26		150,000		144,284
7.500%, due 09/15/25		25,000		25,185
Uniti Group LP/Uniti Group Finance, Inc./CSL Capital LLC
4.750%, due 04/15/282		75,000		65,779
6.500%, due 02/15/292		75,000		60,294
10.500%, due 02/15/282		250,000		259,357
VICI Properties LP/VICI Note Co., Inc.
4.125%, due 08/15/302		125,000		111,415
4.625%, due 12/01/292		200,000		185,544
XHR LP
4.875%, due 06/01/292		75,000		68,457
6.375%, due 08/15/252		125,000		124,862
				4,602,139
Retail: 4.6%
1011778 BC ULC/New Red Finance, Inc.
3.875%, due 01/15/282		25,000		23,063
4.000%, due 10/15/302		500,000		431,187
4.375%, due 01/15/282		50,000		46,498
Abercrombie & Fitch Management Co.
8.750%, due 07/15/252		125,000		125,940
Arcos Dorados Holdings, Inc.
5.875%, due 04/04/273		200,000		197,480

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Retail—(continued)
Arko Corp.
5.125%, due 11/15/292		50,000	$	40,292
Asbury Automotive Group, Inc.
4.500%, due 03/01/28		15,000		14,071
4.625%, due 11/15/292		50,000		45,211
4.750%, due 03/01/30		25,000		22,660
5.000%, due 02/15/322		25,000		22,225
Bath & Body Works, Inc.
6.625%, due 10/01/302		175,000		174,869
6.750%, due 07/01/36		375,000		365,954
BCPE Ulysses Intermediate, Inc.
7.750% Cash or 8.500% PIK,
7.750%, due 04/01/272,7		100,000		97,445
Beacon Roofing Supply, Inc.
4.125%, due 05/15/292		125,000		111,614
4.500%, due 11/15/262		175,000		167,894
6.500%, due 08/01/302		100,000		99,827
Brinker International, Inc.
8.250%, due 07/15/302		25,000		26,031
Carrols Restaurant Group, Inc.
5.875%, due 07/01/292		50,000		50,863
Carvana Co.
13.000% PIK,
13.000%, due 06/01/302,7		50,000		49,608
14.000% PIK,
14.000%, due 06/01/312,7		100,000		100,241
CEC Entertainment LLC
6.750%, due 05/01/262		50,000		49,293

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Retail—(continued)
Ceconomy AG
1.750%, due 06/24/263	EUR	200,000	$	197,449
Dufry One BV
2.000%, due 02/15/273		200,000		201,096
Eroski S Coop
10.625%, due 04/30/292		250,000		285,591
Evergreen Acqco 1 LP/TVI, Inc.
9.750%, due 04/26/282		40,000		42,369
Ferrellgas LP/Ferrellgas Finance Corp.
5.375%, due 04/01/262		200,000		195,969
5.875%, due 04/01/292		175,000		165,820
Fertitta Entertainment LLC/Fertitta Entertainment Finance Co., Inc.
6.750%, due 01/15/302		200,000		174,008
FirstCash, Inc.
4.625%, due 09/01/282		125,000		115,651
5.625%, due 01/01/302		75,000		70,675
6.875%, due 03/01/322		100,000		98,736
Foundation Building Materials, Inc.
6.000%, due 03/01/292		100,000		88,129
Gap, Inc.
3.625%, due 10/01/292		25,000		21,154
3.875%, due 10/01/312		25,000		20,318
Global Auto Holdings Ltd./AAG FH U.K. Ltd.
8.750%, due 01/15/322		200,000		188,814
IRB Holding Corp.
7.000%, due 06/15/252		50,000		49,892

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Retail—(continued)
Ken Garff Automotive LLC
4.875%, due 09/15/282		75,000	$	69,289
Kohl's Corp.
4.625%, due 05/01/31		25,000		20,611
5.550%, due 07/17/45		25,000		17,151
LBM Acquisition LLC
6.250%, due 01/15/292		150,000		137,695
LCM Investments Holdings II LLC
4.875%, due 05/01/292		200,000		182,665
8.250%, due 08/01/312		75,000		77,909
Lithia Motors, Inc.
3.875%, due 06/01/292		200,000		176,648
4.625%, due 12/15/272		150,000		141,405
LSF9 Atlantis Holdings LLC/Victra Finance Corp.
7.750%, due 02/15/262		25,000		24,507
Macy's Retail Holdings LLC
4.500%, due 12/15/34		50,000		42,612
5.125%, due 01/15/42		150,000		126,269
5.875%, due 04/01/292		100,000		96,417
5.875%, due 03/15/302		25,000		23,830
6.375%, due 03/15/37		75,000		67,655
Maxeda DIY Holding BV
5.875%, due 10/01/263	EUR	200,000		166,114
Michaels Cos., Inc.
7.875%, due 05/01/292		75,000		54,954

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Retail—(continued)
Murphy Oil USA, Inc.
3.750%, due 02/15/312		25,000	$	21,462
4.750%, due 09/15/29		50,000		46,549
5.625%, due 05/01/27		25,000		24,667
Nordstrom, Inc.
4.375%, due 04/01/30		50,000		44,625
Patrick Industries, Inc.
4.750%, due 05/01/292		100,000		90,903
7.500%, due 10/15/272		100,000		101,186
Punch Finance PLC
6.125%, due 06/30/262	GBP	125,000		149,556
6.125%, due 06/30/263		100,000		119,644
QVC, Inc.
4.450%, due 02/15/25		100,000		97,091
5.450%, due 08/15/34		125,000		82,091
Raising Cane's Restaurants LLC
9.375%, due 05/01/292		50,000		53,625
Rite Aid Corp.
8.000%, due 11/15/262,10		103,000		66,435
Sally Holdings LLC/Sally Capital, Inc.
6.750%, due 03/01/32		50,000		48,333
Sizzling Platter LLC/Sizzling Platter Finance Corp.
8.500%, due 11/28/252		200,000		202,175
Sonic Automotive, Inc.
4.625%, due 11/15/292		75,000		67,126
4.875%, due 11/15/312		75,000		65,442

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Retail—(continued)
Specialty Building Products Holdings LLC/SBP Finance Corp.
6.375%, due 09/30/262		75,000	$	74,048
Staples, Inc.
7.500%, due 04/15/262		275,000		265,132
10.750%, due 04/15/272		250,000		230,066
Stonegate Pub Co. Financing 2019 PLC
8.000%, due 07/13/253	GBP	325,000		388,966
Suburban Propane Partners LP/Suburban Energy Finance Corp.
5.000%, due 06/01/312		75,000		66,626
Superior Plus LP/Superior General Partner, Inc.
4.500%, due 03/15/292		125,000		113,067
Victoria's Secret & Co.
4.625%, due 07/15/292		50,000		39,283
Vivo Energy Investments BV
5.125%, due 09/24/273		300,000		284,812
Yum! Brands, Inc.
4.750%, due 01/15/302		25,000		23,396
5.375%, due 04/01/32		225,000		212,238
				8,582,212
Savings & loans: 0.0%†
Washington Mutual, Inc.
0.000%, due 09/21/494,10,11		500,000		5,313

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Semiconductors: 0.2%
Amkor Technology, Inc.
6.625%, due 09/15/272		50,000	$	49,923
Entegris, Inc.
4.750%, due 04/15/292		75,000		70,739
ON Semiconductor Corp.
3.875%, due 09/01/282		175,000		158,808
Synaptics, Inc.
4.000%, due 06/15/292		125,000		109,763
				389,233
Software: 1.9%
Alteryx, Inc.
8.750%, due 03/15/282		50,000		50,797
AthenaHealth Group, Inc.
6.500%, due 02/15/302		300,000		270,074
Boxer Parent Co., Inc.
6.500%, due 10/02/253	EUR	200,000		212,497
6.500%, due 10/02/252		150,000		159,373
7.125%, due 10/02/252		75,000		75,074
Camelot Finance SA
4.500%, due 11/01/262		100,000		95,236
Castle U.S. Holding Corp.
9.500%, due 02/15/282		225,000		108,216
Cloud Software Group, Inc.
6.500%, due 03/31/292		375,000		355,670
9.000%, due 09/30/292		425,000		408,958
Dun & Bradstreet Corp.
5.000%, due 12/15/292		50,000		45,536
Dye & Durham Ltd.
8.625%, due 04/15/292		25,000		25,244

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Software—(continued)
Elastic NV
4.125%, due 07/15/292		75,000	$	66,788
MicroStrategy, Inc.
6.125%, due 06/15/282		50,000		46,339
MSCI, Inc.
3.250%, due 08/15/332		50,000		40,034
3.625%, due 09/01/302		50,000		43,530
3.625%, due 11/01/312		50,000		42,655
Open Text Corp.
3.875%, due 02/15/282		100,000		91,281
3.875%, due 12/01/292		150,000		131,281
6.900%, due 12/01/272		50,000		51,054
Open Text Holdings, Inc.
4.125%, due 02/15/302		125,000		109,786
4.125%, due 12/01/312		275,000		235,695
Playtika Holding Corp.
4.250%, due 03/15/292		125,000		107,569
ROBLOX Corp.
3.875%, due 05/01/302		50,000		43,242
Rocket Software, Inc.
6.500%, due 02/15/292		25,000		20,825
SS&C Technologies, Inc.
5.500%, due 09/30/272		250,000		243,004
Twilio, Inc.
3.875%, due 03/15/31		100,000		86,578
UKG, Inc.
6.875%, due 02/01/312		175,000		175,333
Veritas U.S., Inc./Veritas Bermuda Ltd.
7.500%, due 09/01/252		125,000		113,721
				3,455,390

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Telecommunications: 4.9%
Altice France Holding SA
4.000%, due 02/15/283	EUR	200,000	$	50,970
6.000%, due 02/15/282		400,000		116,686
8.000%, due 05/15/273	EUR	175,000		55,094
10.500%, due 05/15/272		400,000		141,996
Altice France SA
3.375%, due 01/15/283	EUR	400,000		280,614
5.125%, due 07/15/292		375,000		244,262
5.500%, due 10/15/292		200,000		130,857
Ciena Corp.
4.000%, due 01/31/302		50,000		43,851
CommScope Technologies LLC
6.000%, due 06/15/252		61,000		48,190
CommScope, Inc.
6.000%, due 03/01/262		50,000		44,688
7.125%, due 07/01/282		25,000		8,367
8.250%, due 03/01/272		25,000		9,638
Digicel Group Holdings Ltd.
Series 1A,
0.000%, due 12/31/302,4,5,11		5,308		2,654
Series 1B,
0.000%, due 12/31/302,4,5,11		63,060		3,153
Series 3A,
0.000%, due 12/31/302,4,5,11		407		203
Series 3B,
0.000%, due 12/31/302,4,5,11		46,129		461

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Telecommunications—(continued)
Digicel Intermediate Holdings Ltd./Digicel International Finance Ltd./Difl U.S.
9.000% Cash and 1.500% PIK,
12.000%, due 05/25/277		400,000	$	389,000
eircom Finance DAC
3.500%, due 05/15/263	EUR	225,000		232,316
Embarq Corp.
7.995%, due 06/01/36		125,000		51,128
Frontier Communications Holdings LLC
5.000%, due 05/01/282		150,000		137,998
5.875%, due 10/15/272		75,000		71,937
5.875%, due 11/01/29		17,911		14,954
6.000%, due 01/15/302		100,000		83,324
6.750%, due 05/01/292		275,000		241,840
8.625%, due 03/15/312		150,000		151,496
8.750%, due 05/15/302		100,000		101,813
GoTo Group, Inc.
5.500%, due 05/01/282		48,510		41,389
5.500%, due 05/01/282		66,990		44,636
Hughes Satellite Systems Corp.
6.625%, due 08/01/26		125,000		71,741
ILIAD HOLDING SAS
6.875%, due 04/15/31	EUR	125,000		133,400
Iliad Holding SASU
6.500%, due 10/15/262		200,000		199,021

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Face amount1		Value
Corporate bonds—(continued)
Telecommunications—(continued)
Intelsat Jackson Holdings SA
6.500%, due 03/15/302		25,000	$	23,929
Level 3 Financing, Inc.
3.625%, due 01/15/292		50,000		17,003
3.750%, due 07/15/292		150,000		51,188
4.250%, due 07/01/282		275,000		105,957
4.625%, due 09/15/272		50,000		28,786
10.500%, due 05/15/302		96,000		95,128
Liberty Costa Rica Senior Secured Finance
10.875%, due 01/15/312		200,000		206,470
Lorca Telecom Bondco SA
4.000%, due 09/18/272	EUR	225,000		233,877
Lumen Technologies, Inc.
4.125%, due 04/15/292		21,250		13,622
4.125%, due 04/15/302		21,250		13,122
Millicom International Cellular SA
4.500%, due 04/27/313		200,000		166,459
Nokia of America Corp.
6.450%, due 03/15/29		175,000		171,719
PPF Telecom Group BV
3.250%, due 09/29/273	EUR	125,000		129,213
SoftBank Group Corp.
3.125%, due 09/19/253		375,000		390,711
3.875%, due 07/06/323		300,000		280,941
4.500%, due 04/20/253		250,000		265,338

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount1		Value
Corporate bonds—(continued)
Telecommunications—(continued)
TalkTalk Telecom Group Ltd.
3.875%, due 02/20/253	GBP	100,000	$	112,772
Telecom Italia Capital SA
6.000%, due 09/30/34		200,000		168,405
6.375%, due 11/15/33		75,000		66,262
7.200%, due 07/18/36		50,000		45,292
Telecom Italia SpA
1.625%, due 01/18/293	EUR	425,000		385,759
2.375%, due 10/12/273		100,000		97,668
3.625%, due 05/25/263		200,000		208,104
Series 8,
5.250%, due 03/17/55		100,000		91,586
7.875%, due 07/31/283		200,000		231,635
Telecommunications Services of Trinidad & Tobago Ltd.
8.875%, due 10/18/293		400,000		385,426
Telesat Canada/Telesat LLC
4.875%, due 06/01/272		50,000		22,515
5.625%, due 12/06/262		125,000		60,722
6.500%, due 10/15/272		75,000		21,809
TMNL Holding BV
3.750%, due 01/15/293	EUR	175,000		174,621
Turkcell Iletisim Hizmetleri AS
5.800%, due 04/11/283		400,000		382,875
Viasat, Inc.
6.500%, due 07/15/282		25,000		19,110
7.500%, due 05/30/312		50,000		35,312

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount1		Value
Corporate bonds—(continued)
Telecommunications—(continued)
Vmed O2 U.K. Financing I PLC
4.250%, due 01/31/312		200,000	$	163,391
4.750%, due 07/15/312		200,000		166,914
5.625%, due 04/15/322	EUR	125,000		129,625
Vodafone Group PLC
(fixed, converts to FRN on 08/27/26),
2.625%, due 08/27/803,6		225,000		229,783
(fixed, converts to FRN on 08/27/30),
3.000%, due 08/27/803,6		100,000		96,037
(fixed, converts to FRN on 10/03/28),
4.200%, due 10/03/783,6		125,000		129,925
(fixed, converts to FRN on 04/04/29),
7.000%, due 04/04/796		175,000		177,558
Windstream Escrow LLC/Windstream Escrow Finance Corp.
7.750%, due 08/15/282		75,000		72,265
Zayo Group Holdings, Inc.
4.000%, due 03/01/272		150,000		119,394
				9,135,905
Toys/Games/Hobbies: 0.1%
Mattel, Inc.
5.450%, due 11/01/41		25,000		21,880
5.875%, due 12/15/272		100,000		99,442
6.200%, due 10/01/40		25,000		23,703
				145,025
Transportation: 0.7%
Cargo Aircraft Management, Inc.
4.750%, due 02/01/282		25,000		22,575

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount1		Value
Corporate bonds—(continued)
Transportation—(continued)
First Student Bidco, Inc./First Transit Parent, Inc.
4.000%, due 07/31/292		50,000	$	43,704
Genesee & Wyoming, Inc.
6.250%, due 04/15/322		150,000		149,083
Rand Parent LLC
8.500%, due 02/15/302		175,000		173,061
Rumo Luxembourg SARL
4.200%, due 01/18/323		200,000		164,970
Seaspan Corp.
5.500%, due 08/01/292		175,000		150,588
Transnet SOC Ltd.
8.250%, due 02/06/283		200,000		196,750
XPO, Inc.
6.250%, due 06/01/282		50,000		49,813
7.125%, due 06/01/312		50,000		50,258
7.125%, due 02/01/322		50,000		50,290
Zenith Finco PLC
6.500%, due 06/30/272	GBP	275,000		251,225
				1,302,317
Trucking & leasing: 0.2%
Fly Leasing Ltd.
7.000%, due 10/15/242		125,000		124,721
Fortress Transportation & Infrastructure Investors LLC
5.500%, due 05/01/282		75,000		71,984
6.500%, due 10/01/252		128,000		128,000
7.000%, due 05/01/312		75,000		75,405
7.875%, due 12/01/302		25,000		25,969
9.750%, due 08/01/272		25,000		25,810
				451,889

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited) 

 

	Face
	amount1		Value
Corporate bonds—(continued)
Water: 0.1%
Solaris Midstream Holdings LLC
7.625%, due 04/01/262		175,000	$	175,683
Total corporate bonds (cost—$195,673,122)				178,370,099
Loan assignments—1.0%
Aerospace & defense: 0.0%†
TransDigm, Inc.
2023 Term Loan J,
1 mo. USD Term SOFR + 3.250%,
8.559%, due 02/28/316		24,938		25,073
Building materials: 0.0%†
MI Windows and Doors LLC
2024 Term Loan B2,
1 mo. USD Term SOFR + 3.500%,
8.816%, due 03/28/316		50,000		50,208
Commercial services: 0.0%†
GTCR W Merger Sub LLC
USD Term Loan B,
1 mo. USD Term SOFR + 3.000%,
8.309%, due 01/31/316		50,000		50,094
Computer: 0.1%
Diebold Nixdorf, Inc.
2023 Exit Term Loan,
1 mo. USD Term SOFR + 7.500%,
12.822%, due 08/11/286		162,745		165,716

PACE High Yield Investments 

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount1		Value
Loan assignments—(continued)
Diversified financial services: 0.2%
Clear Channel Outdoor Holdings, Inc.
2024 CCIBV Fixed Term Loan,
15.000%, due 08/12/276,8		200,000	$	197,000
Mulhacen Pte. Ltd.
EUR 1st Lien Term Loan,
6 mo. EUR EURIBOR + 10.000%,
10.000%, due 08/01/266	EUR	123,745		75,935
EUR 2nd Lien Term Loan,
6 mo. EUR EURIBOR + 8.000%,
8.000%, due 12/01/266		259,267		89,924
				362,859
Entertainment: 0.2%
Allen Media LLC
2021 Term Loan B,
3 mo. USD Term SOFR + 5.500%,
10.959%, due 02/10/276		71,119		63,326
Delta 2 Lux SARL
2022 Term Loan B,
3 mo. USD Term SOFR + 2.250%,
7.559%, due 01/15/306		25,000		25,019
Great Canadian Gaming Corp.
2021 Term Loan,
3 mo. USD Term SOFR + 4.000%,
9.590%, due 11/01/266		98,250		98,569

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount1		Value
Loan assignments—(continued)
Entertainment—(continued)
Scientific Games Holdings LP
2022 USD Term Loan B,
3 mo. USD Term SOFR + 3.250%,
8.556%, due 04/04/296		147,750	$	147,726
UFC Holdings LLC
2021 Term Loan B,
3 mo. USD Term SOFR + 2.750%,
8.336%, due 04/29/266		62,297		62,395
				397,035
Food: 0.1%
Northeast Grocery, Inc.
Term Loan B,
3 mo. USD Term SOFR + 7.500%,
12.826%, due 12/13/286		225,000		224,624
Health care products: 0.0%†
Avantor Funding, Inc.
2024 Term Loan,
1 mo. USD Term SOFR + 2.000%,
7.416%, due 11/08/276		23,571		23,626
Internet: 0.1%
Endure Digital, Inc.
Term Loan,
6 mo. USD Term SOFR + 3.500%,
8.939%, due 02/10/286		72,937		70,385
Machinery-diversified: 0.0%†
Titan Acquisition Ltd.
2024 Term Loan B,
3 mo. USD Term SOFR + 5.000%,
10.317%, due 02/01/296		50,000		50,239

PACE High Yield Investments 

Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount1		Value
Loan assignments—(continued)
Pharmaceuticals: 0.0%†
Mallinckrodt International Finance SA
2023 First Out Term Loan,
1 mo. USD Term SOFR + 7.500%,
12.819%, due 11/14/286		9,405	$	10,483
Software: 0.1%
Athenahealth Group, Inc.
2022 Term Loan B,
1 mo. USD Term SOFR + 3.250%,
8.566%, due 02/15/296		87,588		87,369
Cloud Software Group, Inc.
2022 USD Term Loan A,
3 mo. USD Term SOFR + 4.500%,
9.909%, due 09/29/286		74,159		74,076
				161,445
Telecommunications: 0.2%
Altice France SA
2023 USD Term Loan B14,
1 mo. USD Term SOFR + 5.500%,
10.829%, due 08/15/286		161,260		120,492
Consolidated Communications, Inc.
2021 Term Loan B,
1 mo. USD Term SOFR + 3.500%,
8.930%, due 10/02/276		150,000		140,416
				260,908
Total loan assignments (cost—$2,094,682)				1,852,695

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Face
	amount1		Value
Non-U.S. government agency obligations: 0.1%
Nigeria: 0.1%
Nigeria Government International Bonds
7.375%, due 09/28/333		200,000	$	165,500
Ukraine: 0.0%†
Ukreximbank Via Biz Finance PLC
9.750%, due 01/22/253		51,500		47,638
Total non-U.S. government agency obligations (cost $221,183)				213,138
	Number of shares
Preferred stocks: 0.0%†
Machinery: 0.0%†
Selecta Group BV,4Class A1,*,4		21,852		11,398
Selecta Group BV,4Class A2,*,4		43,703		22,795
				34,193
Total preferred stocks (cost—$19,205)				34,193
	Face amount
Warrants: 0.0%†
Air Methods Corp.*		389		0
Air Methods Corp.*		184		0
California Resources Corp. expires 10/27/24*		201		3,461
Chalice Mining Ltd. expires 10/01/24*		9		0
Chalice Mining Ltd. expires 10/01/25*		9		0
Intelsat SA expires 02/17/27*		1		1
Linx Synthetic expires 12/31/49*	EUR	2		29,028
Total warrants (cost—$166,218)				32,490
	Number of shares
Common stocks: 0.4%
Aerospace & defense: 0.0%†
Evander Gold Mines Ltd.*,4,5		2,750		0

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
Chemicals: 0.0%†
Cornerstone Cs*,4,5		1,205	$	4,218
Energy equipment & services: 0.0%†
Nine Energy Service, Inc.*,12		750		1,620
Parker Drilling Co.*		1,153		14,989
				16,609
Financial services: 0.1%
SPN*,4		1,482		94,478
Gas utilities: 0.0%†
Ferrellgas Partners LP, Class B		364		58,604
Health care providers & services: 0.0%†
Air Methods Corp.*		70		1,706
				1,706
				1,706
IT services: 0.1%
Carnelian Point Holdings LP4,5		140		166,580
Leisure products: 0.0%†
Codere New Topco SA*,4,5	EUR	4,367		0
Teide 10 S.L.*,4		5,444,137		43,575
				43,575
Media: 0.0%†
iHeartMedia, Inc., Class A*		1,347		2,829
Metals & mining: 0.0%†
Aleris International, Inc.*,4,5,9		795		15,900
Cloud Peak Energy, Inc.*,4,5		66		0

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Number of
	shares		Value
Common stocks—(continued)
Metals & mining—(continued)
Petra Diamonds Ltd.*	GBP	54,100	$	32,922
				48,822
Paper & forest products: 0.0%†
Hardwood Holdings LLC*,4		936		44,928
Pharmaceuticals: 0.0%†
Mallinckrodt PLC*,4,5		459		23,753
Technology hardware, storage & peripherals: 0.1%
Diebold Nixdorf, Inc.*		2,649		83,867
Wireless telecommunication services: 0.1%
Intelsat SA*,4		5,083		134,699
Total common stocks (cost—$1,247,598)				724,668
Short-term investments—0.9%
Investment companies: 0.9%
State Street Institutional U.S. Government Money Market Fund, 5.248%13
(cost $1,775,015)		1,775,015		1,775,015
Investment of cash collateral from securities loaned—0.0%†
Money market funds: 0.0%†
State Street Navigator Securities Lending Government Money Market Portfolio, 5.290%13
(cost—$1,855)		1,855		1,855
Total investments (cost—$201,198,878)14—97.9%				183,004,153
Other assets in excess of liabilities—2.1%				3,841,196
Net assets—100.0%			$	186,845,349

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 High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited) 

Forward foreign currency contracts

Counterparty	Sell		Purchase		Settlement date	Unrealized appreciation (depreciation)
SSB	EUR	34,158,485	USD	36,852,497	05/08/24	$	391,443
SSB	GBP	4,337,967	USD	5,454,482	05/08/24		33,826
SSB	USD	126,000	EUR	118,149	05/08/24		113
SSB	USD	412,000	EUR	383,678	05/08/24		(2,459	)
SSB	USD	100,000	GBP	79,414	05/08/24		(765	)
Net unrealized appreciation (depreciation)						$	422,158

Fair valuation summary

The following is a summary of the fair valuations according to the inputs used as of April 30, 2024 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	$	—	$	178,191,678		$	178,421	$	178,370,099
Loan assignments		—		1,852,695			—		1,852,695
Non-U.S. government agency obligations		—		213,138			—		213,138
Common stocks		196,537		341,433			186,698		724,668
Preferred stocks		—		34,193			—		34,193
Warrants		3,461		1			29,028		32,490
Short-term investments		—		1,775,015			—		1,775,015
Investment of cash collateral from securities loaned		—		1,855			—		1,855
Forward foreign currency contracts		—		425,382			—		425,382
Total	$	199,998	$	182,835,390		$	394,147	$	183,429,535
Liabilities
Forward foreign currency contracts	$	—	$	(3,224	)	$	—	$	(3,224	)
Total	$	—	$	(3,224	)	$	—	$	(3,224	)

At April 30, 2024, 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 $108,257,456, represented 57.9% 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.

PACE High Yield Investments

Portfolio of investments – April 30, 2024 (unaudited) 

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 April 30, 2024. 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.

9 This security is considered restricted. At period end, the value of restricted security was $32,426, represented 0.0% 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 04/30/24		Value as a percentage of net assets
Aleris International, Inc.	01/10/17	$	13,981		0.0	%	$	15,900		0.0	%
Appcion	08/23/18		650,000		0.3			6,500		0.0
Cloud Peak Energy Resources LLC/Cloud Peak Energy Finance Corp.	09/02/20		550,000		0.3			5,500		0.0
Codere New Holdco SA	12/01/21		141,227		0.1			4,526		0.0

10 Bond interest in default.

11 Zero coupon bond.

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

13 Rates shown reflect yield at April 30, 2024.

14 Includes $1,603 of investments in securities on loan, at value plus accrued interest and dividends, if any. The Fund includes cash collateral of $1,855 and non-cash collateral of $0.

PACE Large Co Value Equity Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Number of shares		Value
Common stocks: 96.1%
Aerospace & defense: 2.7%
Boeing Co.*		10,697	$	1,795,385
General Dynamics Corp.		53,022		15,222,086
General Electric Co.		11,654		1,885,850
RTX Corp.		22,221		2,255,876
				21,159,197
Air freight & logistics: 1.7%
FedEx Corp.		10,610		2,777,486
United Parcel Service, Inc., Class B		71,510		10,546,295
				13,323,781
Automobile components: 0.7%
Adient PLC*		16,044		479,234
Aptiv PLC*		20,575		1,460,825
BorgWarner, Inc.		22,613		741,028
Magna International, Inc.1		54,029		2,582,586
				5,263,673
Automobiles: 1.9%
General Motors Co.		109,840		4,891,175
Harley-Davidson, Inc.		288,180		9,910,510
				14,801,685
Banks: 7.5%
Bank of America Corp.		32,489		1,202,418
Citigroup, Inc.		257,860		15,814,554
Citizens Financial Group, Inc.		99,129		3,381,290
First Citizens BancShares, Inc., Class A		489		824,826
JPMorgan Chase & Co.		87,686		16,812,913
M&T Bank Corp.		71,069		10,261,653
Truist Financial Corp.		32,200		1,209,110
U.S. Bancorp		79,072		3,212,695
Wells Fargo & Co.		94,340		5,596,249
				58,315,708
Beverages: 1.1%
Anheuser-Busch InBev SA, ADR1		20,200		1,205,132
Keurig Dr Pepper, Inc.		211,792		7,137,390
				8,342,522
Biotechnology: 1.6%
Gilead Sciences, Inc.		185,899		12,120,615
Broadline retail: 1.1%
Alibaba Group Holding Ltd., ADR		111,172		8,321,224
Building products: 1.4%
Johnson Controls International PLC		165,396		10,762,318
Capital markets: 6.6%
ARES Management Corp., Class A		73,906		9,836,150
Bank of New York Mellon Corp.		248,705		14,049,345
Charles Schwab Corp.		160,936		11,901,217
Goldman Sachs Group, Inc.		7,484		3,193,498
Raymond James Financial, Inc.		84,395		10,296,190

PACE Large Co Value Equity Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
Capital markets—(continued)
State Street Corp.		29,705	$	2,153,315
				51,429,715
Chemicals: 1.6%
Axalta Coating Systems Ltd.*		342,889		10,780,430
Olin Corp.		36,151		1,889,974
				12,670,404
Communications equipment: 2.6%
Cisco Systems, Inc.		245,650		11,540,637
F5, Inc.*		24,700		4,083,157
Telefonaktiebolaget LM Ericsson, ADR1		903,961		4,537,884
				20,161,678
Construction & engineering: 0.1%
Fluor Corp.*		15,527		626,204
Construction materials: 1.9%
Heidelberg Materials AG		143,379		14,481,259
Consumer finance: 2.5%
American Express Co.		76,105		17,810,853
Capital One Financial Corp.		5,747		824,292
Discover Financial Services		7,438		942,618
				19,577,763
Containers & packaging: 0.1%
International Paper Co.		12,120		423,473
Electric utilities: 2.7%
Exelon Corp.		281,170		10,566,369
PPL Corp.		371,335		10,196,859
				20,763,228
Electrical equipment: 1.3%
Emerson Electric Co.		93,222		10,047,467
Electronic equipment, instruments & components: 1.8%
Corning, Inc.		384,512		12,835,011
TE Connectivity Ltd.		10,630		1,503,932
				14,338,943
Energy equipment & services: 0.7%
Baker Hughes Co.		34,617		1,129,206
Halliburton Co.		20,621		772,669
NOV, Inc.		154,404		2,854,930
Schlumberger NV		11,897		564,870
				5,321,675
Entertainment: 0.1%
Warner Bros Discovery, Inc.*		122,210		899,466
Financial services: 2.6%
Berkshire Hathaway, Inc., Class B*		38,648		15,332,821
Corebridge Financial, Inc.		57,163		1,518,249
Fidelity National Information Services, Inc.		47,577		3,231,430
				20,082,500

PACE Large Co Value Equity Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
Food products: 1.7%
Conagra Brands, Inc.		41,600	$	1,280,448
Danone SA		194,138		12,153,424
				13,433,872
Health care equipment & supplies: 0.9%
GE HealthCare Technologies, Inc.		33,163		2,528,347
Medtronic PLC		44,837		3,597,721
Zimmer Biomet Holdings, Inc.		7,138		858,559
				6,984,627
Health care providers & services: 7.2%
Centene Corp.*		26,819		1,959,396
Cigna Group		4,697		1,677,017
CVS Health Corp.		44,814		3,034,356
Elevance Health, Inc.		38,835		20,527,404
HCA Healthcare, Inc.		5,747		1,780,536
Henry Schein, Inc.*		163,276		11,311,761
Humana, Inc.		3,921		1,184,495
Laboratory Corp. of America Holdings		3,806		766,414
UnitedHealth Group, Inc.		28,785		13,923,305
				56,164,684
Hotels, restaurants & leisure: 2.4%
Aramark		352,174		11,097,003
Booking Holdings, Inc.		221		762,898
Expedia Group, Inc.*		52,425		7,057,978
				18,917,879
Insurance: 6.6%
American International Group, Inc.		169,771		12,785,454
Hartford Financial Services Group, Inc.		36,765		3,562,161
Marsh & McLennan Cos., Inc.		37,255		7,429,765
MetLife, Inc.		173,883		12,359,604
Progressive Corp.		75,158		15,651,653
				51,788,637
Interactive media & services: 4.0%
Alphabet, Inc., Class A*		116,246		18,922,524
Meta Platforms, Inc., Class A		28,651		12,324,801
				31,247,325
IT services: 0.1%
Cognizant Technology Solutions Corp., Class A		9,852		647,079
Machinery: 0.7%
CNH Industrial NV*		134,345		1,531,533
Cummins, Inc.		8,193		2,314,441
PACCAR, Inc.		10,432		1,106,939
Timken Co.		9,137		815,203
				5,768,116
Media: 0.7%
Comcast Corp., Class A		85,599		3,262,178
Omnicom Group, Inc.		8,500		789,140

PACE Large Co Value Equity Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
Media—(continued)
Paramount Global, Class B		39,342	$	448,105
WPP PLC, ADR1		24,300		1,223,505
				5,722,928
Metals & mining: 1.8%
Rio Tinto PLC, ADR		209,955		14,241,248
Multi-utilities: 1.5%
Sempra		162,261		11,622,755
Oil, gas & consumable fuels: 6.0%
APA Corp.		154,012		4,842,137
Cenovus Energy, Inc.		54,603		1,122,638
ConocoPhillips		70,532		8,860,230
EOG Resources, Inc.		67,958		8,979,290
EQT Corp.		188,329		7,550,110
Marathon Oil Corp.		124,603		3,345,591
Murphy Oil Corp.		16,859		752,586
Ovintiv, Inc.		35,320		1,812,622
Phillips 66		44,625		6,390,746
Shell PLC, ADR		41,762		2,992,665
				46,648,615
Passenger airlines: 0.5%
Southwest Airlines Co.		165,622		4,296,235
Personal care products: 3.4%
Kenvue, Inc.		513,076		9,656,090
Unilever PLC, ADR1		327,553		16,983,623
				26,639,713
Pharmaceuticals: 3.8%
GSK PLC, ADR1		17,964		744,428
Merck & Co., Inc.		124,008		16,024,314
Pfizer, Inc.		472,171		12,097,021
Sanofi SA, ADR		15,514		763,754
				29,629,517
Semiconductors & semiconductor equipment: 2.7%
Lam Research Corp.		8,930		7,987,081
Micron Technology, Inc.		9,619		1,086,562
NXP Semiconductors NV		46,872		12,008,138
				21,081,781
Software: 0.3%
Microsoft Corp.		2,811		1,094,407
Oracle Corp.		9,247		1,051,846
				2,146,253
Specialized REITs: 3.1%
Crown Castle, Inc.		130,438		12,232,476
Gaming & Leisure Properties, Inc.		283,045		12,094,513
				24,326,989
Specialty retail: 0.9%
Tractor Supply Co.		25,990		7,097,349
Technology hardware, storage & peripherals: 1.7%
Samsung Electronics Co. Ltd.		242,472		13,596,397

PACE Large Co Value Equity Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
Tobacco: 1.7%
Philip Morris International, Inc.		138,753	$	13,173,210
Wireless telecommunication services: 0.1%
Vodafone Group PLC, ADR		119,408		1,004,221
Total common stocks (cost—$674,478,069)				749,413,928
Short term investments: 3.6%
Investment companies: 3.6%
State Street Institutional U.S. Government Money Market Fund, 5.248%2 (cost—$28,159,281)		28,159,281		28,159,281
Investment of cash collateral from securities loaned: 0.6%
Money market funds: 0.6%
State Street Navigator Securities Lending Government Money Market Portfolio, 5.290%2 (cost $4,237,341)		4,237,341		4,237,341
Total Investments (cost—$706,874,691)3—100.3%				781,810,550
Liabilities in excess of other assets—(0.3)%				(2,209,407	)
Net Assets—100.0%			$	779,601,143

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 April 30, 2024 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	$	749,413,928	$	—	$	—	$	749,413,928
Short-term investments		—		28,159,281		—		28,159,281
Investment of cash collateral from securities loaned		—		4,237,341		—		4,237,341
Total	$	749,413,928	$	32,396,622	$	—	$	781,810,550

At April 30, 2024, 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 April 30, 2024.

3 Includes $7,870,269 of investments in securities on loan, at value plus accrued interest and dividends, if any. The Fund includes cash collateral of $4,237,341 and non-cash collateral of $3,930,937.

PACE Large Co Growth Equity Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Number of shares		Value
Common stocks: 97.6%
Aerospace & defense: 1.1%
Northrop Grumman Corp.		2,799	$	1,357,599
TransDigm Group, Inc.		5,689		7,100,043
				8,457,642
Automobiles: 1.0%
Tesla, Inc.*		41,931		7,685,114
Banks: 0.3%
JPMorgan Chase & Co.		12,887		2,470,953
Beverages: 1.3%
Celsius Holdings, Inc.*		67,325		4,798,253
Coca-Cola Co.		53,366		3,296,418
Monster Beverage Corp.*		16,493		881,551
PepsiCo, Inc.		7,337		1,290,651
				10,266,873
Biotechnology: 1.2%
Exact Sciences Corp.*		19,496		1,157,088
Regeneron Pharmaceuticals, Inc.*		9,467		8,431,878
				9,588,966
Broadline retail: 10.1%
Amazon.com, Inc.*		420,426		73,574,550
MercadoLibre, Inc.*		3,717		5,421,988
				78,996,538
Building products: 0.7%
Trane Technologies PLC		18,119		5,749,883
Capital markets: 0.7%
Blackstone, Inc.		25,306		2,950,933
KKR & Co., Inc.		25,478		2,371,237
				5,322,170
Communications equipment: 0.5%
Arista Networks, Inc.*		14,058		3,606,720
Construction & engineering: 0.4%
Quanta Services, Inc.		10,983		2,839,764
Consumer staples distribution & retail: 0.2%
Walmart, Inc.		30,600		1,816,110
Electric utilities: 0.7%
American Electric Power Co., Inc.		13,652		1,174,482
Duke Energy Corp.		12,256		1,204,275
NextEra Energy, Inc.		21,854		1,463,562
Southern Co.		17,816		1,309,476
				5,151,795
Electrical equipment: 1.5%
Eaton Corp. PLC		28,957		9,215,855
Vertiv Holdings Co., Class A		22,357		2,079,201
				11,295,056
Electronic equipment, instruments & components: 0.8%
Amphenol Corp., Class A		36,885		4,454,602
Jabil, Inc.		15,454		1,813,681
				6,268,283

PACE Large Co Growth Equity Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Number of shares		Value
Common stocks—(continued)
Entertainment: 4.0%
Netflix, Inc.*		49,712	$	27,373,416
Spotify Technology SA*		12,771		3,581,499
				30,954,915
Financial services: 5.3%
Block, Inc.*		15,065		1,099,745
Mastercard, Inc., Class A		52,249		23,574,749
Visa, Inc., Class A		60,476		16,244,458
				40,918,952
Ground transportation: 1.1%
Uber Technologies, Inc.*		133,572		8,851,816
Health care equipment & supplies: 2.4%
Abbott Laboratories		91,371		9,682,585
Align Technology, Inc.*		11,398		3,218,567
Edwards Lifesciences Corp.*		18,614		1,576,047
Intuitive Surgical, Inc.*		10,459		3,876,315
				18,353,514
Health care providers & services: 1.8%
Elevance Health, Inc.		2,771		1,464,695
McKesson Corp.		11,023		5,921,666
UnitedHealth Group, Inc.		14,478		7,003,009
				14,389,370
Hotels, restaurants & leisure: 4.5%
Airbnb, Inc., Class A*		74,903		11,877,369
Booking Holdings, Inc.		951		3,282,880
Chipotle Mexican Grill, Inc.*		2,240		7,077,504
DoorDash, Inc., Class A*		28,861		3,730,573
Marriott International, Inc., Class A		24,737		5,841,148
McDonald's Corp.		5,833		1,592,642
Starbucks Corp.		21,990		1,945,895
				35,348,011
Household durables: 1.0%
DR Horton, Inc.		52,318		7,454,792
Household products: 0.2%
Procter & Gamble Co.		7,918		1,292,218
Interactive media & services: 9.1%
Alphabet, Inc., Class C*		241,550		39,768,792
Meta Platforms, Inc., Class A		73,246		31,508,232
				71,277,024
IT services: 1.9%
Accenture PLC, Class A		25,530		7,682,232
Cognizant Technology Solutions Corp., Class A		10,003		656,997
MongoDB, Inc.*		4,063		1,483,726
Shopify, Inc., Class A*		74,082		5,200,557
				15,023,512
Life sciences tools & services: 1.5%
Thermo Fisher Scientific, Inc.		20,133		11,450,040

PACE Large Co Growth Equity Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Number of shares		Value
Common stocks—(continued)
Machinery: 0.2%
Deere & Co.		2,903	$	1,136,263
Media: 0.2%
Trade Desk, Inc., Class A*		20,064		1,662,302
Metals & mining: 0.2%
Freeport-McMoRan, Inc.		32,435		1,619,804
Multi-utilities: 0.0%†
CMS Energy Corp.		4,629		280,564
Oil, gas & consumable fuels: 0.7%
Cheniere Energy, Inc.		4,591		724,552
ConocoPhillips		20,557		2,582,370
Shell PLC, ADR		33,092		2,371,373
				5,678,295
Pharmaceuticals: 6.9%
Eli Lilly & Co.		45,935		35,879,829
Johnson & Johnson		10,568		1,528,027
Novo Nordisk AS, ADR		76,671		9,837,656
Zoetis, Inc.		42,783		6,812,765
				54,058,277
Semiconductors & semiconductor equipment: 10.2%
Advanced Micro Devices, Inc.*		62,651		9,922,666
ASML Holding NV, Registered Shares		1,915		1,670,780
Broadcom, Inc.		13,249		17,227,277
Lam Research Corp.		5,942		5,314,584
NVIDIA Corp.		47,266		40,838,769
Taiwan Semiconductor Manufacturing Co. Ltd., ADR		31,066		4,266,605
				79,240,681
Software: 21.4%
Adobe, Inc.*		20,897		9,671,759
AppLovin Corp., Class A*		48,353		3,412,271
Autodesk, Inc.*		28,878		6,146,682
Fair Isaac Corp.*		677		767,264
HubSpot, Inc.*		4,612		2,789,661
Intuit, Inc.		7,858		4,916,122
Microsoft Corp.		197,086		76,731,492

PACE Large Co Growth Equity Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Number of shares		Value
Common stocks—(continued)
Software—(continued)
Oracle Corp.		70,237	$	7,989,459
Palo Alto Networks, Inc.*		8,451		2,458,311
Salesforce, Inc.		72,507		19,500,033
ServiceNow, Inc.*		25,442		17,639,702
Synopsys, Inc.*		15,602		8,278,265
Workday, Inc., Class A*		27,315		6,684,800
				166,985,821
Specialty retail: 0.8%
AutoZone, Inc.*		1,304		3,855,146
Lowe's Cos., Inc.		10,865		2,477,111
				6,332,257
Technology hardware, storage & peripherals: 2.3%
Apple, Inc.		105,903		18,038,458
Textiles, apparel & luxury goods: 0.7%
NIKE, Inc., Class B		58,448		5,392,412
Tobacco: 0.3%
Philip Morris International, Inc.		27,411		2,602,400
Trading companies & distributors: 0.4%
WW Grainger, Inc.		3,458		3,186,028
Total common stocks (cost—$576,155,350)				761,043,593
Short term investments: 2.5%
Investment companies: 2.5%
State Street Institutional U.S. Government Money Market Fund, 5.248%1 (cost—$19,266,233)		19,266,233		19,266,233
Total Investments (cost—$595,421,583)—100.1%				780,309,826
Liabilities in excess of other assets—(0.1)%				(708,254	)
Net Assets—100.0%			$	779,601,572

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 – April 30, 2024 (unaudited)

Fair valuation summary

The following is a summary of the fair valuations according to the inputs used as of April 30, 2024 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	$	761,043,593	$	—	$	—	$	761,043,593
Short-term investments		—		19,266,233		—		19,266,233
Total	$	761,043,593	$	19,266,233	$	—	$	780,309,826

At April 30, 2024, 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 Rates shown reflect yield at April 30, 2024.

PACE Small/Medium Co Value Equity Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Number of shares		Value
Common stocks: 98.8%
Aerospace & defense: 0.9%
Curtiss-Wright Corp.		4,420	$	1,120,116
Textron, Inc.		17,155		1,451,142
				2,571,258
Automobile components: 2.5%
Gentex Corp.		64,258		2,204,049
LCI Industries		20,348		2,115,785
Lear Corp.		16,724		2,105,050
Visteon Corp.*		7,415		820,322
				7,245,206
Automobiles: 1.2%
Harley-Davidson, Inc.		13,781		473,929
Thor Industries, Inc.		29,767		2,959,435
				3,433,364
Banks: 8.2%
Ameris Bancorp		49,169		2,334,544
Atlantic Union Bankshares Corp.		24,420		775,823
Bank of Hawaii Corp.		21,400		1,213,166
Bank of NT Butterfield & Son Ltd.		16,970		576,980
Bank OZK		27,060		1,208,229
Banner Corp.		16,535		721,422
Columbia Banking System, Inc.		127,013		2,389,115
Customers Bancorp, Inc.*		23,862		1,089,778
East West Bancorp, Inc.		11,702		871,682
First Busey Corp.		22,243		496,909
First Hawaiian, Inc.		29,805		628,587
First Horizon Corp.		85,074		1,269,304
Glacier Bancorp, Inc.		48,673		1,760,989
Hancock Whitney Corp.		15,085		684,708
Independent Bank Corp.		18,100		909,344
Old National Bancorp		82,370		1,362,400
Popular, Inc.		10,465		889,420
Prosperity Bancshares, Inc.		13,984		866,588
SouthState Corp.		12,781		967,522
Veritex Holdings, Inc.		41,526		808,926
Webster Financial Corp.		23,985		1,051,263
Wintrust Financial Corp.		9,520		920,013
				23,796,712
Beverages: 0.8%
Molson Coors Beverage Co., Class B		14,490		829,697
National Beverage Corp.*		33,034		1,470,013
				2,299,710
Biotechnology: 0.3%
United Therapeutics Corp.*		4,182		979,968
Broadline retail: 0.4%
Nordstrom, Inc.		62,900		1,195,729
Building products: 3.5%
Armstrong World Industries, Inc.		14,000		1,608,320
Carlisle Cos., Inc.		3,719		1,443,902

PACE Small/Medium Co Value Equity Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
Building products—(continued)
Hayward Holdings, Inc.*		40,395	$	548,564
Lennox International, Inc.		5,475		2,537,224
Resideo Technologies, Inc.*		91,426		1,785,550
Zurn Elkay Water Solutions Corp.		70,264		2,197,858
				10,121,418
Capital markets: 2.4%
Artisan Partners Asset Management, Inc., Class A		12,909		528,365
Houlihan Lokey, Inc.		10,853		1,383,649
Invesco Ltd.		97,526		1,381,944
Janus Henderson Group PLC		47,541		1,484,230
LPL Financial Holdings, Inc.		8,456		2,275,763
				7,053,951
Chemicals: 3.8%
Chemours Co.		71,116		1,902,353
HB Fuller Co.		29,929		2,235,996
Huntsman Corp.		44,654		1,065,444
Ingevity Corp.*		40,892		2,091,217
Olin Corp.		27,440		1,434,563
Scotts Miracle-Gro Co.		18,920		1,296,777
Westlake Corp.		7,058		1,040,067
				11,066,417
Commercial services & supplies: 2.1%
ACCO Brands Corp.		80,724		389,090
Brink's Co.		13,309		1,164,005
Clean Harbors, Inc.*		6,313		1,195,998
OPENLANE, Inc.*		87,232		1,498,646
Stericycle, Inc.*		21,435		958,787
Vestis Corp.		50,572		931,536
				6,138,062
Communications equipment: 0.6%
Ciena Corp.*		16,900		781,287
Juniper Networks, Inc.		14,962		520,977
Lumentum Holdings, Inc.*		10,575		462,762
				1,765,026
Construction & engineering: 0.3%
Fluor Corp.*		24,400		984,052
Construction materials: 0.3%
Summit Materials, Inc., Class A*		21,135		822,152
Consumer finance: 1.1%
Bread Financial Holdings, Inc.		24,273		895,916
Navient Corp.		45,792		687,796
SLM Corp.		81,385		1,724,548
				3,308,260
Consumer staples distribution & retail: 1.5%
BJ's Wholesale Club Holdings, Inc.*		33,611		2,510,069
Performance Food Group Co.*		15,261		1,035,917

PACE Small/Medium Co Value Equity Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
Consumer staples distribution & retail—(continued)
U.S. Foods Holding Corp.*		16,455	$	826,864
				4,372,850
Containers & packaging: 0.3%
TriMas Corp.		34,198		888,806
Diversified telecommunication services: 0.6%
Iridium Communications, Inc.		30,474		938,294
Liberty Latin America Ltd., Class A*		92,185		695,997
				1,634,291
Electric utilities: 1.3%
ALLETE, Inc.		18,953		1,122,397
IDACORP, Inc.		10,165		963,439
Pinnacle West Capital Corp.		15,036		1,107,401
Portland General Electric Co.		16,490		712,863
				3,906,100
Electrical equipment: 0.6%
Atkore, Inc.		5,775		1,012,357
GrafTech International Ltd.1		334,161		574,757
				1,587,114
Electronic equipment, instruments & components: 3.9%
Arrow Electronics, Inc.*		23,877		3,048,376
Belden, Inc.		20,625		1,676,194
Flex Ltd.*		33,746		966,823
IPG Photonics Corp.*		17,361		1,457,977
Jabil, Inc.		7,302		856,963
TD SYNNEX Corp.		8,550		1,007,532
Zebra Technologies Corp., Class A*		6,935		2,181,473
				11,195,338
Energy equipment & services: 2.8%
Cactus, Inc., Class A		33,733		1,674,506
ChampionX Corp.		27,095		909,579
Diamond Offshore Drilling, Inc.*		55,072		674,082
Helmerich & Payne, Inc.		62,125		2,443,376
Liberty Energy, Inc.		41,005		902,110
Patterson-UTI Energy, Inc.		128,673		1,392,242
				7,995,895
Entertainment: 0.8%
Cinemark Holdings, Inc.*		55,079		944,054
Liberty Media Corp.-Liberty Formula One, Class C*		10,525		736,434
Lions Gate Entertainment Corp., Class B*		62,321		587,687
				2,268,175
Financial services: 2.6%
Essent Group Ltd.		13,970		739,991
Euronet Worldwide, Inc.*		8,676		890,852
EVERTEC, Inc.		16,625		623,936
Jack Henry & Associates, Inc.		12,500		2,033,625
MGIC Investment Corp.		56,509		1,146,002

PACE Small/Medium Co Value Equity Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
Financial services—(continued)
Shift4 Payments, Inc., Class A*		13,140	$	760,280
Voya Financial, Inc.		12,154		828,417
Walker & Dunlop, Inc.		4,736		433,960
				7,457,063
Food products: 1.8%
Ingredion, Inc.		13,448		1,541,006
Post Holdings, Inc.*		16,236		1,723,452
TreeHouse Foods, Inc.*		36,760		1,380,338
Vital Farms, Inc.*		24,880		665,789
				5,310,585
Gas utilities: 0.9%
National Fuel Gas Co.		21,192		1,125,295
UGI Corp.		63,218		1,615,852
				2,741,147
Ground transportation: 1.7%
Knight-Swift Transportation Holdings, Inc.		18,266		844,437
Landstar System, Inc.		11,410		1,990,018
Ryder System, Inc.		8,261		1,006,603
Saia, Inc.*		2,440		968,265
				4,809,323
Health care equipment & supplies: 0.8%
Envista Holdings Corp.*		38,440		756,499
Integra LifeSciences Holdings Corp.*		25,555		745,439
LivaNova PLC*		15,686		874,495
				2,376,433
Health care providers & services: 2.0%
Acadia Healthcare Co., Inc.*		10,265		758,994
AdaptHealth Corp.*		61,995		610,651
CorVel Corp.*		5,900		1,409,215
Encompass Health Corp.		13,391		1,116,542
Select Medical Holdings Corp.		29,053		824,234
Tenet Healthcare Corp.*		9,950		1,117,285
				5,836,921
Health care REITs: 0.3%
Healthcare Realty Trust, Inc.		57,760		821,925
Hotel & resort REITs: 0.4%
Host Hotels & Resorts, Inc.		53,808		1,015,357
Hotels, restaurants & leisure: 3.1%
Arcos Dorados Holdings, Inc., Class A		77,548		835,968
Bloomin' Brands, Inc.		34,328		885,319
Caesars Entertainment, Inc.*		25,231		903,774
Cheesecake Factory, Inc.		18,650		643,798
Churchill Downs, Inc.		7,779		1,003,491
Despegar.com Corp.*		80,390		979,954
Light & Wonder, Inc.*		6,600		589,116
Marriott Vacations Worldwide Corp.		11,417		1,097,288

PACE Small/Medium Co Value Equity Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
Hotels, restaurants & leisure—(continued)
Norwegian Cruise Line Holdings Ltd.*,1		57,200	$	1,082,224
Six Flags Entertainment Corp.*		45,170		1,065,109
				9,086,041
Household durables: 1.3%
La-Z-Boy, Inc.		22,395		735,452
Mohawk Industries, Inc.*		23,218		2,677,499
Newell Brands, Inc.		60,054		476,829
				3,889,780
Household products: 0.6%
WD-40 Co.		7,739		1,750,020
Independent power and renewable electricity producers: 0.4%
Vistra Corp.		13,923		1,055,920
Industrial REITs: 0.6%
First Industrial Realty Trust, Inc.		26,893		1,221,480
Plymouth Industrial REIT, Inc.		30,195		630,472
				1,851,952
Insurance: 2.6%
American Financial Group, Inc.		6,398		817,344
Assurant, Inc.		4,594		801,194
Assured Guaranty Ltd.		8,760		671,892
First American Financial Corp.		13,103		701,928
Lincoln National Corp.		25,805		703,702
Reinsurance Group of America, Inc.		5,063		946,730
W R Berkley Corp.		36,846		2,836,037
				7,478,827
IT services: 0.5%
Amdocs Ltd.		12,169		1,022,074
BigCommerce Holdings, Inc.*		86,279		488,339
				1,510,413
Leisure products: 1.0%
Brunswick Corp.		10,859		875,670
Polaris, Inc.		24,623		2,096,894
				2,972,564
Life sciences tools & services: 0.3%
Fortrea Holdings, Inc.*		23,784		870,257
Machinery: 6.5%
AGCO Corp.		9,245		1,055,687
Enpro, Inc.		4,942		741,942
Esab Corp.		9,555		1,011,683
Graco, Inc.		25,590		2,052,318
Helios Technologies, Inc.		13,685		617,194
ITT, Inc.		11,458		1,481,978
John Bean Technologies Corp.		10,638		947,739
Kadant, Inc.		5,988		1,639,455
Lincoln Electric Holdings, Inc.		2,645		580,657
Mueller Water Products, Inc., Class A		51,725		819,324
Oshkosh Corp.		7,909		887,943

PACE Small/Medium Co Value Equity Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
Machinery—(continued)
Pentair PLC		15,226	$	1,204,224
RBC Bearings, Inc.*		8,764		2,143,236
Terex Corp.		21,981		1,232,035
Toro Co.		26,600		2,329,894
				18,745,309
Marine transportation: 0.8%
Kirby Corp.*		22,483		2,453,570
Metals & mining: 3.3%
Alcoa Corp.		80,637		2,833,584
Arch Resources, Inc.		7,352		1,167,351
ATI, Inc.*		36,034		2,151,230
Cleveland-Cliffs, Inc.*		68,861		1,163,751
Commercial Metals Co.		22,579		1,213,395
Reliance, Inc.		4,147		1,180,734
				9,710,045
Mortgage real estate investment: 0.7%
AGNC Investment Corp.1		104,737		958,343
Annaly Capital Management, Inc.		57,505		1,077,644
				2,035,987
Office REITs: 0.6%
COPT Defense Properties		32,390		776,388
Highwoods Properties, Inc.		36,968		968,562
				1,744,950
Oil, gas & consumable fuels: 3.8%
Antero Resources Corp.*		25,180		856,372
California Resources Corp.		40,613		2,146,803
Chord Energy Corp.		4,975		880,476
Civitas Resources, Inc.		10,449		751,910
Comstock Resources, Inc.		75,465		759,178
International Seaways, Inc.		13,305		735,633
Northern Oil & Gas, Inc.		21,065		859,241
Ovintiv, Inc.		17,246		885,065
PBF Energy, Inc., Class A		18,799		1,001,423
Permian Resources Corp.		55,412		928,151
Viper Energy, Inc.		30,420		1,160,827
				10,965,079
Passenger airlines: 1.1%
Alaska Air Group, Inc.*		53,941		2,320,542
SkyWest, Inc.*		12,879		940,553
				3,261,095
Personal care products: 0.5%
BellRing Brands, Inc.*		8,515		469,773
Coty, Inc., Class A*		74,157		848,356
				1,318,129
Pharmaceuticals: 1.3%
Elanco Animal Health, Inc.*		54,545		717,812
Jazz Pharmaceuticals PLC*		11,747		1,300,980
Perrigo Co. PLC		26,158		854,320

PACE Small/Medium Co Value Equity Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
Pharmaceuticals—(continued)
Prestige Consumer Healthcare, Inc.*		13,186	$	946,228
				3,819,340
Professional services: 6.0%
Alight, Inc., Class A*		101,727		917,578
Broadridge Financial Solutions, Inc.		12,150		2,349,932
CACI International, Inc., Class A*		8,039		3,233,527
Genpact Ltd.		47,798		1,469,311
Jacobs Solutions, Inc.		5,734		823,001
Kelly Services, Inc., Class A		63,445		1,455,428
Korn Ferry		25,013		1,518,789
Leidos Holdings, Inc.		7,056		989,392
ManpowerGroup, Inc.		31,361		2,366,187
TransUnion		33,024		2,410,752
				17,533,897
Real estate management & development: 0.3%
Cushman & Wakefield PLC*		87,807		847,338
Residential REITs: 0.4%
Camden Property Trust		10,333		1,029,993
Retail REITs: 0.6%
Federal Realty Investment Trust		11,489		1,196,809
Retail Opportunity Investments Corp.		43,800		537,426
				1,734,235
Semiconductors & semiconductor equipment: 2.8%
Diodes, Inc.*		13,311		971,836
FormFactor, Inc.*		16,390		730,830
Ichor Holdings Ltd.*		38,671		1,499,661
Kulicke & Soffa Industries, Inc.		17,210		796,479
MKS Instruments, Inc.		7,839		932,684
Synaptics, Inc.*		6,389		574,755
Teradyne, Inc.		15,546		1,808,311
Ultra Clean Holdings, Inc.*		18,077		756,161
				8,070,717
Software: 0.9%
Dolby Laboratories, Inc., Class A		24,014		1,864,927
Varonis Systems, Inc.*		19,230		841,313
				2,706,240
Specialized REITs: 1.1%
Gaming & Leisure Properties, Inc.		29,352		1,254,211
Lamar Advertising Co., Class A		15,906		1,842,710
				3,096,921
Specialty retail: 1.7%
Leslie's, Inc.*		240,000		943,200

PACE Small/Medium Co Value Equity Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
Specialty retail—(continued)
National Vision Holdings, Inc.*		45,410	$	791,042
Sally Beauty Holdings, Inc.*		74,100		803,985
Signet Jewelers Ltd.		4,521		443,194
Victoria's Secret & Co.*		115,363		2,032,696
				5,014,117
Textiles, apparel & luxury goods: 3.4%
Carter's, Inc.		6,046		413,607
PVH Corp.		20,088		2,185,574
Ralph Lauren Corp.		4,796		784,817
Samsonite International SA, ADR*		68,090		1,193,618
Skechers USA, Inc., Class A*		12,942		854,819
Steven Madden Ltd.		19,356		782,176
Tapestry, Inc.		90,139		3,598,349
				9,812,960
Trading companies & distributors: 1.9%
Air Lease Corp.		28,094		1,411,443
Core & Main, Inc., Class A*		20,861		1,178,021
Herc Holdings, Inc.		9,400		1,344,482
WESCO International, Inc.		11,238		1,716,604
				5,650,550
Total common stocks (cost—$257,715,238)				287,014,854
Short term investments: 1.0%
Investment companies: 1.0%
State Street Institutional U.S. Government Money Market Fund, 5.248%2 (cost—$2,975,952)		2,975,952		2,975,952
Investment of cash collateral from securities loaned: 0.3%
Money market funds: 0.3%
State Street Navigator Securities Lending Government Money Market Portfolio, 5.290%2 (cost $742,017)		742,017		742,017
Total Investments (cost—$261,433,207)3—100.1%				290,732,823
Liabilities in excess of other assets—(0.1)%				(162,701	)
Net Assets—100.0%			$	290,570,122

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 – April 30, 2024 (unaudited) 

Fair valuation summary

The following is a summary of the fair valuations according to the inputs used as of April 30, 2024 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	$	287,014,854	$	—	$	—	$	287,014,854
Short-term investments		—		2,975,952		—		2,975,952
Investment of cash collateral from securities loaned		—		742,017		—		742,017
Total	$	287,014,854	$	3,717,969	$	—	$	290,732,823

At April 30, 2024, 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 April 30, 2024.

3 Includes $2,615,324 of investments in securities on loan, at value plus accrued interest and dividends, if any. The Fund includes cash collateral of $742,017 and non-cash collateral of $1,940,879.

PACE Small/Medium Co Growth Equity Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Number of shares		Value
Common stocks: 99.2%
Aerospace & defense: 1.1%
AeroVironment, Inc.*		1,704	$	272,282
Axon Enterprise, Inc.*		4,260		1,336,191
Loar Holdings, Inc.*		93		4,866
Moog, Inc., Class A		2,609		415,014
Spirit AeroSystems Holdings, Inc., Class A*		14,024		448,768
VirTra, Inc.*		30,383		478,836
				2,955,957
Automobile components: 0.8%
Cooper-Standard Holdings, Inc.*		1,401		21,618
Modine Manufacturing Co.*		10,092		934,822
Stoneridge, Inc.*		8,233		123,330
Visteon Corp.*		9,199		1,017,685
				2,097,455
Banks: 0.0%†
Metropolitan Bank Holding Corp.*		500		19,850
Beverages: 0.5%
Boston Beer Co., Inc., Class A*		2,262		629,764
Celsius Holdings, Inc.*		8,353		595,318
				1,225,082
Biotechnology: 5.9%
ACELYRIN, Inc.*,1		22,200		92,796
ADMA Biologics, Inc.*		169,454		1,104,840
Aduro Biotech, Inc.*,2,3		9,389		0
Alector, Inc.*		29,960		152,197
AnaptysBio, Inc.*		2,606		63,430
Arcturus Therapeutics Holdings, Inc.*		3,095		79,139
Ardelyx, Inc.*		74,347		475,821
ARS Pharmaceuticals, Inc.*		8,486		73,828
BioCryst Pharmaceuticals, Inc.*		3,600		14,868
Blueprint Medicines Corp.*		2,758		251,916
Catalyst Pharmaceuticals, Inc.*		47,629		716,817
Crinetics Pharmaceuticals, Inc.*		13,789		604,234
CytomX Therapeutics, Inc.*,1		25,556		41,656
Enanta Pharmaceuticals, Inc.*		5,912		81,231
Exelixis, Inc.*		67,984		1,594,905
Incyte Corp.*		7,589		395,008
Insmed, Inc.*		5,181		128,074
Ionis Pharmaceuticals, Inc.*		7,280		300,373
Ironwood Pharmaceuticals, Inc.*		43,500		337,125
MacroGenics, Inc.*		7,754		114,604
Madrigal Pharmaceuticals, Inc.*,1		665		135,673
Mersana Therapeutics, Inc.*		23,900		75,763
Natera, Inc.*		9,450		877,716
Neurocrine Biosciences, Inc.*		15,033		2,067,639
PTC Therapeutics, Inc.*		29,885		960,803
Rigel Pharmaceuticals, Inc.*,1		124,678		130,912
Sage Therapeutics, Inc.*		15,053		209,839

PACE Small/Medium Co Growth Equity Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
Biotechnology—(continued)
Sarepta Therapeutics, Inc.*		12,899	$	1,633,787
SpringWorks Therapeutics, Inc.*		7,404		345,693
Travere Therapeutics, Inc.*		34,112		188,639
Ultragenyx Pharmaceutical, Inc.*		26,239		1,116,207
Vaxcyte, Inc.*		2,088		126,428
Viking Therapeutics, Inc.*,1		9,818		781,316
Vir Biotechnology, Inc.*		2,900		24,534
				15,297,811
Broadline retail: 0.4%
Dillard's, Inc., Class A		2,438		1,067,820
Etsy, Inc.*		583		40,034
				1,107,854
Building products: 1.0%
Advanced Drainage Systems, Inc.		2,935		460,795
Apogee Enterprises, Inc.		12,355		763,292
AZEK Co., Inc.*		17,226		786,194
Griffon Corp.		5,311		347,977
Tecnoglass, Inc.		5,665		314,691
				2,672,949
Capital markets: 1.2%
Donnelley Financial Solutions, Inc.*		7,762		487,298
FactSet Research Systems, Inc.		2,019		841,701
Perella Weinberg Partners		16,664		248,627
StoneX Group, Inc.*		11,790		855,954
TPG, Inc.		15,720		677,532
				3,111,112
Chemicals: 0.3%
American Vanguard Corp.		18,364		209,166
Core Molding Technologies, Inc.*		2,556		46,059
Orion SA		24,857		588,117
				843,342
Commercial services & supplies: 2.8%
ACV Auctions, Inc., Class A*		104,414		1,822,024
CECO Environmental Corp.*		31,958		690,932
Montrose Environmental Group, Inc.*		8,757		380,229
RB Global, Inc.		52,016		3,723,305
VSE Corp.		8,139		635,412
				7,251,902
Communications equipment: 0.2%
Calix, Inc.*		13,285		368,393
Cambium Networks Corp.*		8,171		27,700
CommScope Holding Co., Inc.*		125,302		112,020
				508,113
Construction & engineering: 2.2%
Bowman Consulting Group Ltd.*		1,758		57,118
Comfort Systems USA, Inc.		898		277,850
Construction Partners, Inc., Class A*		12,883		665,278
Fluor Corp.*		29,435		1,187,114

PACE Small/Medium Co Growth Equity Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
Construction & engineering—(continued)
Limbach Holdings, Inc.*		5,522	$	250,312
Sterling Infrastructure, Inc.*		10,939		1,111,402
WillScot Mobile Mini Holdings Corp.*		56,701		2,095,669
				5,644,743
Construction materials: 0.5%
Eagle Materials, Inc.		1,807		453,033
Knife River Corp.*		9,469		740,381
				1,193,414
Consumer finance: 1.3%
FirstCash Holdings, Inc.		1,242		140,321
LendingTree, Inc.*		16,151		779,609
Moneylion, Inc.*		9,985		662,105
PROG Holdings, Inc.		14,690		488,296
Regional Management Corp.		940		23,697
SLM Corp.		62,678		1,328,147
				3,422,175
Consumer staples distribution & retail: 0.1%
Maplebear, Inc.*		5,339		182,220
Diversified consumer services: 3.1%
Carriage Services, Inc.		6,117		156,473
Chegg, Inc.*		80,112		414,179
Coursera, Inc.*		34,294		350,485
Duolingo, Inc.*		6,020		1,359,015
Grand Canyon Education, Inc.*		31,294		4,068,846
Stride, Inc.*		11,790		786,983
Udemy, Inc.*		23,820		238,676
Universal Technical Institute, Inc.*		45,070		685,965
				8,060,622
Diversified telecommunication services: 0.5%
Bandwidth, Inc., Class A*		21,224		386,277
Iridium Communications, Inc.		25,987		800,139
Ooma, Inc.*		32,664		230,608
				1,417,024
Electrical equipment: 1.7%
Allient, Inc.		2,523		74,151
Atkore, Inc.		2,935		514,505
Encore Wire Corp.		946		264,275
NEXTracker, Inc., Class A*		29,895		1,279,207
nVent Electric PLC		11,301		814,463
Vertiv Holdings Co., Class A		15,576		1,448,568
				4,395,169
Electronic equipment, instruments & components: 1.3%
Arlo Technologies, Inc.*		17,407		215,499
Belden, Inc.		2,010		163,353
Celestica, Inc.*		16,226		703,072
Climb Global Solutions, Inc.		870		56,080
Cognex Corp.		42,620		1,770,435

PACE Small/Medium Co Growth Equity Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
Electronic equipment, instruments & components—(continued)
FARO Technologies, Inc.*		14,374	$	269,512
Powerfleet, Inc. NJ*		65,929		315,800
				3,493,751
Energy equipment & services: 1.3%
Archrock, Inc.		13,250		254,267
Helix Energy Solutions Group, Inc.*		28,216		303,040
Kodiak Gas Services, Inc.		19,242		522,998
Tidewater, Inc.*		7,985		733,422
Weatherford International PLC*		11,990		1,482,204
				3,295,931
Entertainment: 0.2%
Eventbrite, Inc., Class A*		31,448		166,045
Playtika Holding Corp.		10,100		73,225
Roku, Inc.*		3,415		196,909
Warner Music Group Corp., Class A		6,254		206,382
				642,561
Financial services: 1.5%
Euronet Worldwide, Inc.*		860		88,305
Flywire Corp.*		9,896		202,868
International Money Express, Inc.*		46,053		931,652
Payoneer Global, Inc.*		142,400		703,456
PennyMac Financial Services, Inc.		7,846		671,932
WEX, Inc.*		6,624		1,399,386
				3,997,599
Food products: 2.1%
Calavo Growers, Inc.		11,367		306,341
Dole PLC		15,685		190,886
Freshpet, Inc.*		39,833		4,225,086
Mama's Creations, Inc.*		128,449		762,987
				5,485,300
Ground transportation: 2.0%
ArcBest Corp.		5,268		584,274
Avis Budget Group, Inc.		2,413		230,321
Landstar System, Inc.		8,788		1,532,715
Lyft, Inc., Class A*		75,076		1,174,188
PAM Transportation Services, Inc.*		2,435		41,711
RXO, Inc.*		27,780		525,320
Saia, Inc.*		848		336,512
U-Haul Holding Co.*		8,786		555,539
XPO, Inc.*		1,511		162,372
				5,142,952
Health care equipment & supplies: 3.2%
Alphatec Holdings, Inc.*		10,827		136,637
Embecta Corp.		7,883		79,855
Glaukos Corp.*		24,215		2,324,640
Inspire Medical Systems, Inc.*,1		3,575		863,934
iRadimed Corp.		5,502		223,436
Neogen Corp.*		47,203		582,013

PACE Small/Medium Co Growth Equity Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
Health care equipment & supplies—(continued)
Novocure Ltd.*		15,512	$	189,867
OrthoPediatrics Corp.*		22,478		666,023
Outset Medical, Inc.*,1		21,323		53,947
RxSight, Inc.*		20,612		1,074,504
Semler Scientific, Inc.*		4,069		103,882
Sight Sciences, Inc.*		5,600		31,080
Silk Road Medical, Inc.*		9,244		179,703
Surmodics, Inc.*		5,556		142,734
Tandem Diabetes Care, Inc.*		16,051		588,911
TransMedics Group, Inc.*,1		4,570		430,174
UFP Technologies, Inc.*		2,897		596,608
				8,267,948
Health care providers & services: 7.1%
Addus HomeCare Corp.*		7,948		764,200
AMN Healthcare Services, Inc.*		17,781		1,066,504
Castle Biosciences, Inc.*		19,307		407,185
Chemed Corp.		4,288		2,435,584
DaVita, Inc.*		7,560		1,050,916
Ensign Group, Inc.		27,400		3,243,064
GeneDx Holdings Corp.*,1		14,473		247,054
Option Care Health, Inc.*		52,878		1,580,524
Pennant Group, Inc.*		55,964		1,170,207
Privia Health Group, Inc.*		93,810		1,726,104
Progyny, Inc.*		51,545		1,652,533
RadNet, Inc.*		31,606		1,532,891
U.S. Physical Therapy, Inc.		16,534		1,678,366
				18,555,132
Health care technology: 1.5%
Certara, Inc.*		65,897		1,127,497
Doximity, Inc., Class A*		76,241		1,851,894
LifeMD, Inc.*		14,130		168,571
Phreesia, Inc.*		38,219		792,662
				3,940,624
Hotels, restaurants & leisure: 1.5%
Cava Group, Inc.*		5,311		382,073
Kura Sushi USA, Inc., Class A*		3,037		334,313
PlayAGS, Inc.*		25,317		223,802
Potbelly Corp.*		19,891		202,689
Travel & Leisure Co.		2,328		101,361
United Parks & Resorts, Inc.*		8,706		442,439
Wingstop, Inc.		4,048		1,557,630
Wynn Resorts Ltd.		6,586		603,607
Xponential Fitness, Inc., Class A*		1,714		21,854
				3,869,768
Household durables: 1.7%
Cavco Industries, Inc.*		3,700		1,347,577
Green Brick Partners, Inc.*		4,350		235,465
iRobot Corp.*		22,725		194,526

PACE Small/Medium Co Growth Equity Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
Household durables—(continued)
Skyline Champion Corp.*		16,037	$	1,202,615
Sonos, Inc.*		71,780		1,213,082
TopBuild Corp.*		400		161,868
				4,355,133
Independent power and renewable electricity producers: 0.9%
Montauk Renewables, Inc.*		10,400		37,440
Vistra Corp.		30,011		2,276,034
				2,313,474
Insurance: 3.7%
Everest Group Ltd.		1,369		501,615
Goosehead Insurance, Inc., Class A*		16,751		953,300
Kinsale Capital Group, Inc.		11,541		4,192,268
Lincoln National Corp.		29,773		811,910
Mercury General Corp.		13,627		712,147
RLI Corp.		3,612		510,556
Ryan Specialty Holdings, Inc.		20,524		1,012,654
Skyward Specialty Insurance Group, Inc.*		19,443		678,950
Universal Insurance Holdings, Inc.		11,600		226,432
				9,599,832
Interactive media & services: 1.2%
EverQuote, Inc., Class A*		52,876		1,066,509
MediaAlpha, Inc., Class A*		9,920		200,880
QuinStreet, Inc.*		19,498		352,719
VTEX, Class A*		67,989		504,478
Yelp, Inc.*		12,273		493,865
ZipRecruiter, Inc., Class A*		41,549		427,124
				3,045,575
IT services: 3.3%
BigCommerce Holdings, Inc.*		14,188		80,304
Couchbase, Inc.*		9,713		234,472
DigitalOcean Holdings, Inc.*,1		20,046		658,712
Globant SA*		22,227		3,969,520
Grid Dynamics Holdings, Inc.*		82,936		810,285
Squarespace, Inc., Class A*		81,636		2,845,831
Wix.com Ltd.*		1,065		126,596
				8,725,720
Leisure products: 0.2%
Funko, Inc., Class A*,1		36,620		223,016
MasterCraft Boat Holdings, Inc.*		14,544		294,225
				517,241
Life sciences tools & services: 4.2%
10X Genomics, Inc., Class A*		19,667		575,850
BioLife Solutions, Inc.*		24,458		428,993
Codexis, Inc.*		71,532		208,158
Medpace Holdings, Inc.*		13,248		5,144,861
Repligen Corp.*		17,683		2,903,548

PACE Small/Medium Co Growth Equity Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
Life sciences tools & services—(continued)
Stevanato Group SpA1		58,541	$	1,641,490
				10,902,900
Machinery: 2.3%
Atmus Filtration Technologies, Inc.*		14,232		431,087
Blue Bird Corp.*		14,231		468,983
Esab Corp.		1,516		160,514
Helios Technologies, Inc.		7,392		333,379
Hyster-Yale Materials Handling, Inc.		5,487		321,374
Kadant, Inc.		9,898		2,709,974
Kornit Digital Ltd.*		53,520		824,743
Shyft Group, Inc.		21,417		233,017
Terex Corp.		10,708		600,183
				6,083,254
Media: 0.5%
Ibotta, Inc., Class A*		2,279		233,073
Integral Ad Science Holding Corp.*		47,572		456,216
PubMatic, Inc., Class A*		27,220		610,817
				1,300,106
Metals & mining: 0.1%
Alpha Metallurgical Resources, Inc.		106		34,675
Ryerson Holding Corp.		6,755		192,855
				227,530
Oil, gas & consumable fuels: 1.5%
APA Corp.		17,321		544,572
CVR Energy, Inc.		21,623		656,907
Excelerate Energy, Inc., Class A		12,050		203,163
Kosmos Energy Ltd.*		88,300		500,661
Magnolia Oil & Gas Corp., Class A		36,580		917,061
Matador Resources Co.		2,004		124,849
Ovintiv, Inc.		3,980		204,254
Par Pacific Holdings, Inc.*		26,408		813,366
				3,964,833
Paper & forest products: 0.4%
Sylvamo Corp.		15,014		938,375
Personal care products: 0.5%
Beauty Health Co.*,1		9,800		31,654
elf Beauty, Inc.*		4,669		758,853
Herbalife Ltd.*		30,876		267,077
Medifast, Inc.		5,933		163,335
USANA Health Sciences, Inc.*		5,144		213,579
				1,434,498
Pharmaceuticals: 0.7%
Amphastar Pharmaceuticals, Inc.*		8,681		358,091
Intra-Cellular Therapies, Inc.*		7,134		512,293
Ligand Pharmaceuticals, Inc.*		5,632		393,620
Marinus Pharmaceuticals, Inc.*		8,550		12,055
Tarsus Pharmaceuticals, Inc.*		13,762		432,540
				1,708,599

PACE Small/Medium Co Growth Equity Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
Professional services: 5.1%
Barrett Business Services, Inc.		2,177	$	264,506
CBIZ, Inc.*		6,744		480,038
CRA International, Inc.		2,291		332,401
ExlService Holdings, Inc.*		6,613		191,777
Exponent, Inc.		24,487		2,250,600
IBEX Holdings Ltd.*		4,724		61,884
Insperity, Inc.		14,221		1,463,768
KBR, Inc.		20,965		1,361,467
Kforce, Inc.		7,991		493,524
Parsons Corp.*		2,049		160,867
Paycom Software, Inc.		928		174,446
Paycor HCM, Inc.*		86,493		1,502,383
Paylocity Holding Corp.*		18,851		2,924,921
Planet Labs PBC*,1		16,300		27,547
TriNet Group, Inc.		13,032		1,308,022
WNS Holdings Ltd.*		8,599		360,384
				13,358,535
Real estate management & development: 0.3%
Compass, Inc., Class A*		66,595		209,774
eXp World Holdings, Inc.1		16,541		164,749
Opendoor Technologies, Inc.*		13,376		26,618
Redfin Corp.*,1		38,156		214,055
RMR Group, Inc., Class A		5,700		135,204
				750,400
Semiconductors & semiconductor equipment: 2.9%
ACM Research, Inc., Class A*		28,318		722,675
Ambarella, Inc.*		9,875		453,954
FormFactor, Inc.*		11,176		498,338
MACOM Technology Solutions Holdings, Inc.*		2,749		280,261
MaxLinear, Inc.*		23,816		495,135
Onto Innovation, Inc.*		4,209		780,727
Power Integrations, Inc.		28,415		1,895,849
Semtech Corp.*,1		8,855		333,125
Silicon Laboratories, Inc.*		9,784		1,188,658
SMART Global Holdings, Inc.*		36,558		667,915
Veeco Instruments, Inc.*		7,548		266,746
				7,583,383
Software: 17.6%
8x8, Inc.*		31,330		69,239
A10 Networks, Inc.		37,133		484,957
Alarm.com Holdings, Inc.*		34,032		2,263,128
Alkami Technology, Inc.*		7,458		179,514
American Software, Inc., Class A		14,265		144,219
Amplitude, Inc., Class A*		17,443		170,767
Appfolio, Inc., Class A*		1,957		443,808
AppLovin Corp., Class A*		3,818		269,436
Arteris, Inc.*,1		3,126		20,725

PACE Small/Medium Co Growth Equity Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
Software—(continued)
AvePoint, Inc.*		46,717	$	362,991
BlackLine, Inc.*		36,991		2,147,328
Box, Inc., Class A*		52,074		1,354,966
CCC Intelligent Solutions Holdings, Inc.*		194,482		2,182,088
Confluent, Inc., Class A*		33,327		937,155
CyberArk Software Ltd.*		451		107,902
Descartes Systems Group, Inc.*		28,615		2,655,186
Digital Turbine, Inc.*		19,925		38,057
DocuSign, Inc.*		1,872		105,955
Domo, Inc., Class B*,1		29,478		221,969
DoubleVerify Holdings, Inc.*		102,225		2,995,193
Dropbox, Inc., Class A*		52,854		1,224,099
Expensify, Inc., Class A*		42,163		67,461
Five9, Inc.*		34,237		1,971,024
Gitlab, Inc., Class A*		17,972		942,991
Guidewire Software, Inc.*		13,755		1,518,552
Informatica, Inc., Class A*		17,050		528,039
Jamf Holding Corp.*		77,002		1,499,229
JFrog Ltd.*		2,121		84,585
Kaltura, Inc.*		5,854		7,200
LivePerson, Inc.*		11,112		5,566
Manhattan Associates, Inc.*		7,907		1,629,316
MeridianLink, Inc.*		12,722		212,203
MicroStrategy, Inc., Class A*,1		121		128,869
Monday.com Ltd.*		1,288		243,857
Nutanix, Inc., Class A*		33,330		2,023,131
PowerSchool Holdings, Inc., Class A*		63,394		1,097,984
Procore Technologies, Inc.*		19,697		1,347,669
Qualys, Inc.*		5,077		832,171
Rimini Street, Inc.*		4,827		12,840
Samsara, Inc., Class A*		18,096		632,093
SEMrush Holdings, Inc., Class A*		11,688		143,061
SentinelOne, Inc., Class A*		11,338		239,572
SimilarWeb Ltd.*		47,782		353,109
Smartsheet, Inc., Class A*		30,179		1,141,672
SPS Commerce, Inc.*		24,190		4,205,915
Tenable Holdings, Inc.*		32,284		1,451,812
Teradata Corp.*		21,491		797,316
Varonis Systems, Inc.*		14,078		615,913
Weave Communications, Inc.*		5,100		54,519
Workiva, Inc.*		34,470		2,716,236
Yext, Inc.*		49,496		271,733
Zeta Global Holdings Corp., Class A*		53,065		655,883
				45,810,203

PACE Small/Medium Co Growth Equity Investments

Portfolio of investments – April 30, 2024 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
Specialty retail: 3.2%
Arhaus, Inc.		29,849	$	377,888
Boot Barn Holdings, Inc.*		5,725		609,541
Dick's Sporting Goods, Inc.		2,469		496,121
Five Below, Inc.*		23,382		3,421,722
Floor & Decor Holdings, Inc., Class A*		21,048		2,322,226
Sleep Number Corp.*		18,113		241,084
Upbound Group, Inc.		7,862		243,801
Williams-Sonoma, Inc.		2,126		609,694
				8,322,077
Technology hardware, storage & peripherals: 0.7%
Super Micro Computer, Inc.*		2,139		1,836,973
Textiles, apparel & luxury goods: 0.9%
Deckers Outdoor Corp.*		2,893		2,367,834
Trading companies & distributors: 2.0%
Alta Equipment Group, Inc.		15,075		167,483
FTAI Aviation Ltd.		20,550		1,442,815
GMS, Inc.*		15,827		1,464,314
Herc Holdings, Inc.		6,935		991,913
Karat Packaging, Inc.		3,408		92,357
MRC Global, Inc.*		6,450		72,434
SiteOne Landscape Supply, Inc.*		619		97,115
Transcat, Inc.*		9,464		1,016,150
				5,344,581
Total common stocks (cost—$246,662,846)				258,589,416
Short term investments: 1.2%
Investment companies: 1.2%
State Street Institutional U.S. Government Money Market Fund, 5.248%4 (cost—$3,152,554)		3,152,554		3,152,554
Investment of cash collateral from securities loaned: 0.4%
Money market funds: 0.4%
State Street Navigator Securities Lending Government Money Market Portfolio, 5.290%4 (cost $1,013,368)		1,013,368		1,013,368
Total Investments (cost—$250,828,768)5—100.8%				262,755,338
Liabilities in excess of other assets—(0.8)%				(2,025,650	)
Net Assets—100.0%			$	260,729,688

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 – April 30, 2024 (unaudited) 

Fair valuation summary

The following is a summary of the fair valuations according to the inputs used as of April 30, 2024 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	$	258,589,416	$	—	$	—	$	258,589,416
Short-term investments		—		3,152,554		—		3,152,554
Investment of cash collateral from securities loaned		—		1,013,368		—		1,013,368
Total	$	258,589,416	$	4,165,922	$	—	$	262,755,338

At April 30, 2024, 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 fair valued by the Valuation Committee under the direction of the Board of Trustees.

3 Significant unobservable inputs were used in the valuation of this security; i.e. Level 3.

4 Rates shown reflect yield at April 30, 2024.

5 Includes $4,368,302 of investments in securities on loan, at value plus accrued interest and dividends, if any. The Fund includes cash collateral of $1,013,368 and non-cash collateral of $3,406,050.

PACE International Equity Investments

Portfolio statistics and industry diversification – (unaudited)¹

As a percentage of net assets as of April 30, 2024

Common stocks
Aerospace & defense	2.0	%
Air freight & logistics	0.8
Automobile components	0.9
Automobiles	3.6
Banks	14.6
Beverages	0.6
Biotechnology	1.7
Broadline retail	1.4
Building products	1.1
Capital markets	0.9
Chemicals	2.0
Commercial services & supplies	1.6
Construction & engineering	1.5
Construction materials	0.9
Consumer staples distribution & retail	1.7
Containers & packaging	0.0	†
Diversified REITs	0.3
Diversified telecommunication services	1.2
Electric utilities	2.6
Electrical equipment	1.0
Electronic equipment, instruments & components	1.9
Energy equipment & services	0.4
Entertainment	1.3
Financial services	1.0
Food products	1.4
Gas utilities	1.6
Ground transportation	1.0
Health care equipment & supplies	2.3
Health care providers & services	0.2
Hotels, restaurants & leisure	1.0
Household durables	1.3
Household products	0.1
Independent power and renewable electricity producers	0.4
Industrial conglomerates	2.4
Industrial REITs	0.0	†
Insurance	4.6
IT services	2.7
Life sciences tools & services	0.1
Machinery	5.2
Marine transportation	0.1
Media	1.0
Metals & mining	2.9
Oil, gas & consumable fuels	3.3
Passenger airlines	0.3
Personal care products	0.9
Pharmaceuticals	10.2
Professional services	2.7
Real estate management & development	1.2

PACE International Equity Investments

Portfolio statistics and industry diversification – (unaudited)¹

Retail REITs	0.2	%
Semiconductors & semiconductor equipment	5.4
Software	3.6
Specialty retail	2.5
Technology hardware, storage & peripherals	1.4
Textiles, apparel & luxury goods	2.7
Tobacco	1.7
Trading companies & distributors	1.1
Transportation infrastructure	0.1
Wireless telecommunication services	0.4
Total common stocks	111.0
Preferred stocks
Automobiles	0.3
Warrant	0.0	†
Short-term investments	0.7
Investment of cash collateral from securities loaned	8.1
Total investments before investments sold short	120.1
Investments sold short
Common stocks
Air freight & logistics	(0.3	)
Banks	(0.0	)†
Beverages	(0.6	)
Capital markets	(0.5	)
Chemicals	(0.5	)
Commercial services & supplies	(0.1	)
Communications equipment	(0.0	)†
Construction & engineering	(0.4	)
Consumer staples distribution & retail	(0.2	)
Distributors	(0.1	)
Diversified REITs	(0.1	)
Diversified telecommunication services	(0.1	)
Electric utilities	(1.3	)
Electronic equipment, instruments & components	(0.6	)
Entertainment	(0.2	)
Financial services	(0.7	)
Food products	(0.4	)
Ground transportation	(0.3	)
Health care equipment & supplies	(0.4	)
Hotels, restaurants & leisure	(0.3	)
Household durables	(0.1	)
Independent power and renewable electricity producers	(0.0	)†
Industrial conglomerates	(0.3	)
Industrial REITs	(0.2	)
Insurance	(0.4	)
Interactive media & services	(0.0	)†
IT services	(0.1	)
Leisure products	(0.2	)
Life sciences tools & services	(0.3	)
Machinery	(0.3	)

PACE International Equity Investments

Portfolio statistics and industry diversification – (unaudited)¹

Marine transportation	(0.2	)%
Media	(0.1	)
Metals & mining	(0.4	)
Multi-utilities	(0.2	)
Office REITs	(0.1	)
Oil, gas & consumable fuels	(1.1	)
Paper & forest products	(0.4	)
Personal care products	(0.4	)
Pharmaceuticals	(0.3	)
Real estate management & development	(0.4	)
Specialty retail	(0.3	)
Technology hardware, storage & peripherals	(0.2	)
Total common stocks	(13.1	)
Preferred stocks
Life sciences tools & services	(0.1	)
Total investments sold short	(13.2	)
Total investments	106.9
Liabilities in excess of other assets	(6.9	)
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 – April 30, 2024 (unaudited)

	Number of shares		Value
Common stocks—111.0%
Australia—4.2%
Aurizon Holdings Ltd.1		1,596,429	$	3,921,230
BHP Group Ltd.1		90,157		2,472,656
BlueScope Steel Ltd.		166,574		2,431,217
Cochlear Ltd.		3,360		700,923
Computershare Ltd.		230,754		4,053,971
Fortescue Ltd.1		96,188		1,594,263
Glencore PLC1		147,674		859,250
Insurance Australia Group Ltd.		513,630		2,127,957
Medibank Pvt Ltd.		1,166,567		2,673,607
Northern Star Resources Ltd.		206,258		1,955,065
Rio Tinto PLC1		47,705		3,227,755
Seven Group Holdings Ltd.2		18,784		456,434
Wesfarmers Ltd.		36,710		1,572,628
Woolworths Group Ltd.1		90,888		1,864,759
				29,911,715
Austria—0.7%
ANDRITZ AG		61,415		3,352,247
Erste Group Bank AG		28,197		1,314,969
				4,667,216
Belgium—0.0%†
Groupe Bruxelles Lambert NV1		2,854		211,852
Brazil—0.1%
Yara International ASA		28,751		819,551
Canada—1.6%
Constellation Software, Inc.		2,760		7,105,809
Fairfax Financial Holdings Ltd.2		3,768		4,096,614
				11,202,423
China—2.1%
Alibaba Group Holding Ltd., ADR		23,532		1,761,370
BeiGene Ltd., ADR*		21,437		3,300,012
BOC Hong Kong Holdings Ltd.		63,000		194,492
KE Holdings, Inc., ADR		202,933		3,068,347
Prosus NV		160,684		5,376,480
SITC International Holdings Co. Ltd.		442,000		958,518
Wuxi Biologics Cayman, Inc.*,3		373,071		646,284
				15,305,503
Denmark—5.4%
Carlsberg AS, Class B1		12,540		1,686,791
Coloplast AS, Class B		37,205		4,485,625
Demant AS*		6,685		319,222
Genmab AS*		32,588		9,047,403
Novo Nordisk AS, ADR		60,233		7,728,496
Novo Nordisk AS, Class B1		100,855		12,933,867
Pandora AS		199		30,288
Rockwool AS, Class B		3,593		1,171,277
Tryg AS		44,144		873,708
				38,276,677

PACE International Equity Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Number of shares		Value
Common stocks—(continued)
Finland—1.1%
Nordea Bank Abp		463,855	$	5,435,572
Wartsila OYJ Abp		138,901		2,562,375
				7,997,947
France—7.0%
Aeroports de Paris SA1		4,432		562,929
Air Liquide SA1		4,611		901,813
Airbus SE1		200		32,912
AXA SA1		25,355		876,055
Bouygues SA2		156,650		5,773,381
Bureau Veritas SA		33,122		966,024
Capgemini SE		11,974		2,516,707
Cie de Saint-Gobain SA1		4,587		362,752
Cie Generale des Etablissements Michelin SCA		6,493		249,452
Covivio SA1		21,477		1,069,042
Dassault Systemes SE		71,082		2,790,105
Eiffage SA		4,099		437,357
Hermes International SCA1		2,060		4,931,620
Kering SA2		20,340		7,128,543
Klepierre SA1		23,054		619,055
Legrand SA1		790		81,186
L'Oreal SA1		9,607		4,504,272
LVMH Moet Hennessy Louis Vuitton SE1		2,412		1,981,304
Publicis Groupe SA1		8,586		947,438
Safran SA		21,781		4,722,820
SEB SA		4,131		487,558
Teleperformance SE*		18,034		1,633,605
Thales SA		18,879		3,172,945
TotalEnergies SE1		12,497		907,267
Vinci SA1		16,623		1,947,818
				49,603,960
Germany—6.6%
Allianz SE, Registered Shares1		34,291		9,731,272
Bechtle AG		10,484		505,954
Carl Zeiss Meditec AG		2,063		217,673
Commerzbank AG		147,330		2,189,639
Continental AG		49,633		3,216,778
Deutsche Boerse AG1		164		31,618
Deutsche Post AG		123,481		5,170,141
Evonik Industries AG		328,845		6,853,348
Fresenius Medical Care AG		33,327		1,403,157
GEA Group AG*		14,454		583,363
Hannover Rueck SE		4,012		995,152
Heidelberg Materials AG		36,248		3,648,479
Knorr-Bremse AG		4,279		317,526
LEG Immobilien SE*		28,834		2,447,671
MTU Aero Engines AG		537		129,372

PACE International Equity Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Number of shares		Value
Common stocks—(continued)
Germany—(continued)
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen, Registered Shares		4,368	$	1,921,084
Nemetschek SE		15,809		1,397,030
Rational AG		1,357		1,157,518
Rheinmetall AG		134		73,840
SAP SE1		19,907		3,594,550
Vonovia SE1		46,180		1,334,418
				46,919,583
Hong Kong—1.5%
AIA Group Ltd.1		23,400		171,390
Hang Lung Properties Ltd.1		286,000		315,662
Hong Kong & China Gas Co. Ltd.1		103,000		78,316
Hong Kong Exchanges & Clearing Ltd.1		60,385		1,918,698
Jardine Matheson Holdings Ltd.		97,800		3,742,720
Link REIT1		106,300		455,473
WH Group Ltd.3		5,761,689		4,187,826
				10,870,085
India—1.4%
HDFC Bank Ltd., ADR		90,320		5,202,432
Tata Consultancy Services Ltd.		102,318		4,669,803
				9,872,235
Indonesia—0.6%
Bank Rakyat Indonesia Persero Tbk. PT		15,085,516		4,566,439
Ireland—0.1%
Kingspan Group PLC		10,477		931,904
Smurfit Kappa Group PLC		949		41,120
				973,024
Israel—1.2%
Bank Hapoalim BM		342,483		3,085,233
Bank Leumi Le-Israel BM		386,918		3,014,907
Israel Discount Bank Ltd., Class A		481,425		2,469,336
				8,569,476
Italy—4.8%
Amplifon SpA2		5,141		171,639
Banco BPM SpA		15,037		99,238
Coca-Cola HBC AG1		90,945		2,935,588
Enel SpA		1,168,275		7,678,419
Eni SpA2		155,461		2,496,966
Ferrari NV1		2,161		888,764
Intesa Sanpaolo SpA		1,392,744		5,213,048
Moncler SpA		45,474		3,095,969
Prysmian SpA2		841		45,631
Recordati Industria Chimica e Farmaceutica SpA		25,228		1,342,466
Snam SpA2		1,558,827		7,132,056

PACE International Equity Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Number of shares		Value
Common stocks—(continued)
Italy—(continued)
UniCredit SpA2		79,738	$	2,926,733
				34,026,517
Japan—27.6%
Aeon Co. Ltd.2		16,000		334,533
AGC, Inc.		13,000		480,665
ANA Holdings, Inc.1		75,100		1,426,299
Asahi Kasei Corp.		21,700		151,295
Bridgestone Corp.2		19,300		851,651
Canon, Inc.1		104,400		2,825,616
Central Japan Railway Co.1		136,400		3,119,192
Chubu Electric Power Co., Inc.1		199,300		2,558,206
Daifuku Co. Ltd.		9,600		196,645
Dai-ichi Life Holdings, Inc.		51,700		1,197,425
Daito Trust Construction Co. Ltd.1		300		32,158
Daiwa House Industry Co. Ltd.1		1,100		30,953
Daiwa Securities Group, Inc.1		2,300		16,903
Disco Corp.2		1,700		484,238
ENEOS Holdings, Inc.1		327,300		1,512,195
FANUC Corp.		147,034		4,355,042
Fast Retailing Co. Ltd.1		13,100		3,425,244
Fuji Electric Co. Ltd.		33,600		2,090,051
FUJIFILM Holdings Corp.		331,900		7,060,335
Fujitsu Ltd.		526,600		8,134,991
Hitachi Ltd.1		56,800		5,240,406
Honda Motor Co. Ltd.		807,700		9,189,669
Hoya Corp.1		11,900		1,379,684
Inpex Corp.1		74,100		1,110,003
Isuzu Motors Ltd.		209,800		2,658,764
ITOCHU Corp.1		11,800		532,354
Japan Airlines Co. Ltd.1		54,600		967,444
Japan Metropolitan Fund Invest1		971		586,220
Japan Post Bank Co. Ltd.		368,300		3,738,358
Japan Post Holdings Co. Ltd.		2,000		19,207
Japan Tobacco, Inc.1		144,900		3,898,044
Kajima Corp.		27,100		519,157
Kao Corp.2		47,700		1,967,730
KDDI Corp.1		36,000		998,956
Keyence Corp.1		13,183		5,797,483
Komatsu Ltd.1		46,700		1,394,282
Kyocera Corp.		262,300		3,197,080
Kyowa Kirin Co. Ltd.		38,100		639,846
Lasertec Corp.2		10,700		2,308,047
Makita Corp.		62,900		1,821,010
Marubeni Corp.		125,100		2,228,825
Mazda Motor Corp.		245,500		2,778,931
Minebea Mitsumi, Inc.		168,300		3,152,316
MISUMI Group, Inc.		110,700		1,799,745
Mitsubishi Chemical Group Corp.2		55,400		323,196
Mitsubishi Electric Corp.		195,600		3,409,294

PACE International Equity Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Number of shares		Value
Common stocks—(continued)
Japan—(continued)
Mitsubishi UFJ Financial Group, Inc.1		281,800	$	2,807,109
Mizuho Financial Group, Inc.		85,400		1,650,706
MonotaRO Co. Ltd.2		46,000		551,304
MS&AD Insurance Group Holdings, Inc.		106,500		1,914,767
NEC Corp.2		22,400		1,621,804
Nexon Co. Ltd.2		97,600		1,521,715
NIDEC Corp.1		18,700		875,774
Nintendo Co. Ltd.1		21,500		1,048,533
NIPPON EXPRESS HOLDINGS, Inc.1		7,800		399,035
Nippon Steel Corp.2		29,000		650,148
Nippon Telegraph & Telephone Corp.		3,014,900		3,255,073
Nissan Motor Co. Ltd.		45,200		165,419
Nitto Denko Corp.		27,000		2,232,512
Obayashi Corp.2		49,900		556,923
Ono Pharmaceutical Co. Ltd.2		154,000		2,218,117
Oriental Land Co. Ltd.1		14,700		405,598
ORIX Corp.1		2,200		45,024
Osaka Gas Co. Ltd.1		54,900		1,220,749
Otsuka Corp.		27,600		548,912
Pan Pacific International Holdings Corp.		51,400		1,207,182
Recruit Holdings Co. Ltd.		110,506		4,759,202
Renesas Electronics Corp.		107,700		1,748,590
SCSK Corp.		59,900		1,088,934
Secom Co. Ltd.2		70,700		4,910,996
Sekisui House Ltd.		24,600		565,317
Seven & i Holdings Co. Ltd.1		25,500		329,490
Shimadzu Corp.1		87,200		2,369,055
Shin-Etsu Chemical Co. Ltd.1		33,700		1,304,491
Shionogi & Co. Ltd.		26,700		1,246,910
SoftBank Corp.1		1,200		14,474
Sompo Holdings, Inc.		15,600		308,726
Sony Group Corp.		81,500		6,736,084
Square Enix Holdings Co. Ltd.		13,800		500,323
Subaru Corp.		153,200		3,420,801
SUMCO Corp.2		37,500		559,249
Sumitomo Corp.2		149,800		3,939,313
Sumitomo Electric Industries Ltd.		2,700		41,732
Sumitomo Metal Mining Co. Ltd.		127,700		4,266,283
Sumitomo Mitsui Financial Group, Inc.		63,700		3,618,400
Suzuki Motor Corp.		470,500		5,479,339
Takeda Pharmaceutical Co. Ltd.		189,100		4,969,939
Tokio Marine Holdings, Inc.		92,700		2,929,912
Tokyo Electron Ltd.1		11,600		2,544,411
Tokyo Gas Co. Ltd.1		119,700		2,684,542
Toyota Industries Corp.		60,600		5,758,623

PACE International Equity Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Number of shares		Value
Common stocks—(continued)
Japan—(continued)
Trend Micro, Inc.2		2,600	$	128,123
Unicharm Corp.		16,900		503,309
USS Co. Ltd.		114,200		872,407
Yakult Honsha Co. Ltd.		15,900		311,114
Yokogawa Electric Corp.1		87,000		1,922,335
				196,668,516
Netherlands—5.8%
Adyen NV*,2,3		4,345		5,205,310
ASM International NV2		3,041		1,912,907
ASML Holding NV		12,819		11,165,512
ASML Holding NV, Registered Shares		8,177		7,134,187
Koninklijke Ahold Delhaize NV		57,381		1,741,754
Koninklijke Philips NV1		354,245		9,407,399
NN Group NV		6,789		313,183
Universal Music Group NV1		48,671		1,431,666
Wolters Kluwer NV2		21,415		3,205,964
				41,517,882
New Zealand—0.3%
Xero Ltd.*		23,020		1,787,231
Norway—1.3%
Aker BP ASA1		26,713		647,874
DNB Bank ASA		253,658		4,421,042
Equinor ASA1		3,473		92,411
Gjensidige Forsikring ASA		58,733		941,683
Kongsberg Gruppen ASA		16,943		1,196,059
Norsk Hydro ASA		273,166		1,678,710
				8,977,779
Portugal—0.1%
Jeronimo Martins SGPS SA2		31,922		656,691
Singapore—5.0%
CapitaLand Ascendas REIT		5,800		10,986
DBS Group Holdings Ltd.		435,131		11,077,305
Genting Singapore Ltd.		2,559,400		1,708,066
Grab Holdings Ltd., Class A*		19,753		69,136
Oversea-Chinese Banking Corp. Ltd.		393,600		4,086,184
Sea Ltd., ADR*		73,902		4,669,867
Singapore Telecommunications Ltd.		2,253,700		3,908,534
United Overseas Bank Ltd.		463,498		10,285,385
				35,815,463
South Africa—0.2%
Anglo American PLC		37,168		1,214,556
Spain—2.5%
Acciona SA1		9,595		1,109,241
ACS Actividades de Construccion y Servicios SA		28,607		1,145,723
Banco Bilbao Vizcaya Argentaria SA		67,537		730,343
Banco Santander SA2		1,782,560		8,673,281
CaixaBank SA		92,132		485,863

PACE International Equity Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Number of shares		Value
Common stocks—(continued)
Spain—(continued)
Industria de Diseno Textil SA1		119,403	$	5,436,531
				17,580,982
Sweden—3.7%
Alfa Laval AB2		40,723		1,733,772
Assa Abloy AB, Class B2		183,704		4,853,718
Atlas Copco AB, Class A1		238,332		4,174,643
Epiroc AB, Class A2		2,118		39,156
Fastighets AB Balder, Class B*,1		4,948		31,189
H & M Hennes & Mauritz AB, Class B2		196,916		3,129,940
Indutrade AB		28,814		662,883
Lifco AB, Class B		33,662		815,582
Sagax AB, Class B1		64,817		1,623,151
Skandinaviska Enskilda Banken AB, Class A		212,668		2,785,190
SKF AB, Class B		38,359		788,587
Swedbank AB, Class A		17,066		326,341
Tele2 AB, Class B		47,892		446,691
Telia Co. AB		487,609		1,115,394
Volvo AB, Class B		109,876		2,796,693
Volvo Car AB, Class B*,2		290,351		901,317
				26,224,247
Switzerland—4.5%
ABB Ltd., Registered Shares1		19,964		970,020
Cie Financiere Richemont SA, Class A, Registered Shares1		12,654		1,749,125
Lonza Group AG, Registered Shares		658		363,211
Novartis AG, Registered Shares1		145,619		14,133,413
Partners Group Holding AG1		1,839		2,365,995
Sandoz Group AG*		136,985		4,655,695
Schindler Holding AG1		1,173		292,377
SGS SA, Registered Shares		16,939		1,491,574
Sika AG, Registered Shares1		7,132		2,028,779
Temenos AG, Registered Shares2		62,939		3,915,271
				31,965,460
Taiwan—1.5%
Taiwan Semiconductor Manufacturing Co. Ltd.		166,000		3,974,663
Taiwan Semiconductor Manufacturing Co. Ltd., ADR		48,848		6,708,785
				10,683,448
United Kingdom—11.8%
abrdn PLC1		457,030		833,431
Associated British Foods PLC		120,932		4,002,569
AstraZeneca PLC1		40,994		6,200,296
BAE Systems PLC		233,013		3,875,523
British American Tobacco PLC1		10,796		316,930
BT Group PLC2		307,302		392,979
CK Hutchison Holdings Ltd.		1,044,000		5,070,470

PACE International Equity Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Number of shares		Value
Common stocks—(continued)
United Kingdom—(continued)
Compass Group PLC1		91,115	$	2,534,246
DCC PLC		20,063		1,370,116
HSBC Holdings PLC1		440,429		3,817,617
Imperial Brands PLC1		340,376		7,777,642
Informa PLC		3,531		34,957
InterContinental Hotels Group PLC		13,788		1,344,798
JD Sports Fashion PLC		341,384		488,751
Kingfisher PLC2		1,399,601		4,311,224
Land Securities Group PLC1		106,519		860,893
Lloyds Banking Group PLC		15,084,426		9,735,227
M&G PLC1		77,882		194,980
Persimmon PLC		90,982		1,473,274
RELX PLC1		46,979		1,930,220
Rolls-Royce Holdings PLC*		194,752		998,693
Smiths Group PLC		31,104		627,055
SSE PLC2		357,181		7,424,505
St. James's Place PLC1		213,258		1,154,002
Tesco PLC		1,870,684		6,906,693
Unilever PLC1		4,896		253,274
Vodafone Group PLC		1,570,558		1,324,454
Whitbread PLC		27,313		1,076,481
Wise PLC, Class A*,1		153,157		1,471,907
WPP PLC2		649,239		6,507,428
				84,310,635
United States—8.3%
Aptiv PLC*		25,167		1,786,857
Atlassian Corp., Class A*		26,760		4,610,748
BP PLC1		980,482		6,319,831
Brookfield Renewable Corp., Class A2		134,158		3,117,832
Experian PLC		30,440		1,227,765
GSK PLC1		343,664		7,129,966
James Hardie Industries PLC, CDI*		72,264		2,484,289
Monday.com Ltd.*		1,000		189,330
Nestle SA, Registered Shares1		16,745		1,681,201
Roche Holding AG1		10,629		2,546,859
Sanofi SA		68,630		6,780,167
Shell PLC1		288,241		10,246,563
Swiss Re AG		17,798		1,934,738
Tenaris SA1		161,736		2,685,983
Waste Connections, Inc.		40,621		6,584,258
				59,326,387
Total common stocks (cost—$671,746,761)				790,523,480
Preferred stocks—0.3%
Germany—0.3%
Dr Ing hc F Porsche AG1,3		11,566		1,029,680

PACE International Equity Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Number of shares		Value
Preferred stocks—(continued)
Germany—(continued)
Porsche Automobil Holding SE		15,694	$	799,632
Total preferred stocks (cost—$2,070,887)				1,829,312
Warrant: 0.0%†
Canada: 0.0%†
Constellation Software, Inc. expires 03/31/40*,2,4  (cost—$0)		2,948		0

	Number of shares
Short-term investments: 0.7%
Investment companies: 0.7%
State Street Institutional U.S. Government Money Market Fund, 5.248%5 (cost $4,892,164)		4,892,164		4,892,164
Investment of cash collateral from securities loaned—8.1%
Money market funds—8.1%
State Street Navigator Securities Lending Government Money Market Portfolio, 5.290%5 (cost $57,906,134)		57,906,134		57,906,134
Total investments before investments sold short (Cost—$736,615,946)—120.1				855,151,090
Investments sold short: (13.2)%
Common stocks—(13.1)%
Australia—(1.0)%
Aristocrat Leisure Ltd.		(8,542	)	(217,992	)
ASX Ltd.		(25,765	)	(1,052,503	)
Dexus		(129,879	)	(589,938	)
Goodman Group		(31,629	)	(638,894	)
Mineral Resources Ltd.		(25,900	)	(1,174,884	)
Mirvac Group		(190,260	)	(249,292	)
SEEK Ltd.		(12,476	)	(196,149	)
Stockland		(38,724	)	(109,710	)
Suncorp Group Ltd.		(41,525	)	(443,504	)
Treasury Wine Estates Ltd.		(73,011	)	(566,215	)
Washington H Soul Pattinson & Co. Ltd.		(90,116	)	(1,885,911	)

PACE International Equity Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Number of shares			Value
Investments sold short—(continued)
Common stocks—(continued)
Australia—(continued)
Woodside Energy Group Ltd.		(9,629	)	$	(176,089	)
					(7,301,081	)
Belgium—(0.4)%
D'ieteren Group		(4,771	)		(1,029,212	)
Sofina SA		(2,382	)		(557,582	)
Syensqo SA		(11,212	)		(1,039,258	)
					(2,626,052	)
China—(0.1)%
Wilmar International Ltd.		(324,300	)		(762,291	)
Denmark—(0.3)%
DSV AS		(13,797	)		(1,960,131	)
Finland—(0.1)%
Fortum OYJ		(22,629	)		(298,191	)
Stora Enso OYJ, Class R		(56,186	)		(748,433	)
					(1,046,624	)
France—(0.3)%
Bollore SE		(43,842	)		(284,567	)
Remy Cointreau SA		(8,097	)		(768,160	)
Sartorius Stedim Biotech		(6,520	)		(1,412,504	)
					(2,465,231	)
Germany—(0.2)%
E.ON SE		(80,645	)		(1,067,898	)
Merck KGaA		(1,444	)		(229,454	)
					(1,297,352	)
Hong Kong—(0.5)%
CK Asset Holdings Ltd.		(220,500	)		(940,559	)
CK Infrastructure Holdings Ltd.		(36,500	)		(206,194	)
Henderson Land Development Co. Ltd.		(24,000	)		(72,356	)
Hongkong Land Holdings Ltd.		(55,100	)		(176,054	)
MTR Corp. Ltd.		(104,500	)		(343,433	)
Prudential PLC		(70,020	)		(608,988	)
Sino Land Co. Ltd.		(932,055	)		(996,552	)
Sun Hung Kai Properties Ltd.		(37,500	)		(345,936	)
					(3,690,072	)
Ireland—(0.1)%
Kerry Group PLC, Class A		(9,511	)		(818,501	)
Italy—(0.9)%
Davide Campari-Milano NV		(165,436	)		(1,659,125	)
Eni SpA		(244,885	)		(3,933,266	)
Telecom Italia SpA		(3,752,846	)		(889,708	)
					(6,482,099	)
Japan—(4.1)%
Asahi Intecc Co. Ltd.		(8,600	)		(126,013	)
Bandai Namco Holdings, Inc.		(7,100	)		(132,665	)
Eisai Co. Ltd.		(38,400	)		(1,577,051	)
FUJIFILM Holdings Corp.		(42,300	)		(899,826	)

PACE International Equity Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Number of shares			Value
Investments sold short—(continued)
Common stocks—(continued)
Japan—(continued)
Hamamatsu Photonics KK		(27,900	)	$	(1,022,303	)
Hirose Electric Co. Ltd.		(8,400	)		(891,624	)
Ibiden Co. Ltd.		(42,900	)		(1,630,778	)
Japan Exchange Group, Inc.		(9,800	)		(229,521	)
Japan Real Estate Investment Corp.		(103	)		(349,287	)
JSR Corp.		(4,936	)		(135,406	)
Kao Corp.		(11,900	)		(490,901	)
Keisei Electric Railway Co. Ltd.		(53,700	)		(2,000,482	)
Konami Group Corp.		(18,900	)		(1,140,375	)
MatsukiyoCocokara & Co.		(16,400	)		(232,564	)
Minebea Mitsumi, Inc.		(59,700	)		(1,118,201	)
Mitsui Chemicals, Inc.		(1,300	)		(37,002	)
Mitsui Fudosan Co. Ltd.		(60,000	)		(610,624	)
Nippon Prologis REIT, Inc.		(334	)		(576,353	)
Nissan Chemical Corp.		(8,500	)		(289,749	)
Nissin Foods Holdings Co. Ltd.		(1,200	)		(32,023	)
Nitori Holdings Co. Ltd.		(16,800	)		(2,248,395	)
NTT Data Group Corp.		(33,000	)		(516,048	)
Olympus Corp.		(173,100	)		(2,411,233	)
Omron Corp.		(23,100	)		(792,847	)
Resona Holdings, Inc.		(49,000	)		(309,863	)
Ricoh Co. Ltd.		(29,700	)		(256,224	)
Sharp Corp.		(101,400	)		(532,265	)
Shimano, Inc.		(9,500	)		(1,543,873	)
Shimizu Corp.		(25,100	)		(155,481	)
Shiseido Co. Ltd.		(47,700	)		(1,276,845	)
Sumitomo Metal Mining Co. Ltd.		(49,000	)		(1,637,023	)
Taisei Corp.		(32,500	)		(1,189,838	)
TOPPAN Holdings, Inc.		(24,800	)		(588,354	)
Yaskawa Electric Corp.		(24,800	)		(1,021,825	)
Zensho Holdings Co. Ltd.		(25,000	)		(968,980	)
					(28,971,842	)
Macau—(0.1)%
Galaxy Entertainment Group Ltd.		(86,000	)		(385,873	)
Netherlands—(0.5)%
Aegon Ltd.		(30,060	)		(187,209	)
Heineken NV		(15,573	)		(1,515,559	)
JDE Peet's NV		(16,381	)		(363,979	)
OCI NV		(41,752	)		(1,122,986	)
					(3,189,733	)
New Zealand—(0.1)%
Mercury NZ Ltd.		(192,609	)		(722,836	)
Norway—(0.1)%
Salmar ASA		(16,493	)		(1,037,592	)
Portugal—(0.6)%
EDP - Energias de Portugal SA		(200,965	)		(754,657	)

PACE International Equity Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Number of shares			Value
Investments sold short—(continued)
Common stocks—(continued)
Portugal—(continued)
Galp Energia SGPS SA		(178,029	)	$	(3,824,269	)
					(4,578,926	)
Singapore—(0.3)%
Keppel Ltd.		(374,000	)		(1,870,714	)
Spain—(1.0)%
EDP Renovaveis SA		(287	)		(3,929	)
Endesa SA		(122,354	)		(2,231,204	)
Iberdrola SA		(273,209	)		(3,349,973	)
Redeia Corp. SA		(79,816	)		(1,332,417	)
					(6,917,523	)
Sweden—(1.0)%
EQT AB		(40,503	)		(1,092,745	)
Investor AB, Class B		(110,647	)		(2,710,048	)
Skanska AB, Class B		(63,094	)		(1,083,848	)
Svenska Cellulosa AB SCA, Class B		(144,604	)		(2,119,209	)
Telefonaktiebolaget LM Ericsson, Class B		(46,059	)		(233,744	)
					(7,239,594	)
Switzerland—(0.4)%
Kuehne & Nagel International AG, Registered Shares		(4,500	)		(1,189,334	)
Swiss Life Holding AG, Registered Shares		(2,137	)		(1,441,953	)
					(2,631,287	)
United Kingdom—(0.7)%
Croda International PLC		(14,183	)		(812,353	)
Diageo PLC		(933	)		(32,244	)
Entain PLC		(52,189	)		(512,964	)
London Stock Exchange Group PLC		(12,626	)		(1,391,891	)
National Grid PLC		(2,729	)		(35,797	)
Ocado Group PLC		(192,095	)		(841,035	)
WPP PLC		(99,092	)		(993,215	)
					(4,619,499	)
United States—(0.3)%
Ferrovial SE		(6,793	)		(244,313	)
Haleon PLC		(272,140	)		(1,149,340	)
Qiagen NV		(23,888	)		(997,363	)
					(2,391,016	)
Total common stocks (cost—$(94,823,080))					(93,005,869	)

PACE International Equity Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Number of shares			Value
Investments sold short—(continued)
Preferred stocks: (0.1)%
Sartorius AG (cost—$(1,036,158))		(3,088	)	$	(923,176	)
Total investments sold short (proceeds—$(95,859,238))					(93,929,045	)
Total investments (cost $640,756,708)6—106.9%					761,222,045
Liabilities in excess of other assets—(6.9)%					(49,033,431	)
Net assets—100.0%				$	712,188,614

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 April 30, 2024 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	$	790,523,480	$	—		$	—	$	790,523,480
Preferred stocks		—		1,829,312			—		1,829,312
Warrant		—		—			0		—
Short-term investments		—		4,892,164			—		4,892,164
Investment of cash collateral from securities loaned		—		57,906,134			—		57,906,134
Total	$	790,523,480	$	64,627,610		$	0	$	855,151,090
Liabilities
Investments sold short
Common stocks	$	—	$	(93,005,869	)	$	—	$	(93,005,869	)
Preferred stocks		—		(923,176	)		—		(923,176	)
Total	$	—	$	(93,929,045	)	$	—	$	(93,929,045	)

At April 30, 2024, 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.

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

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 $11,069,100, represented 1.6% 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 Rates shown reflect yield at April 30, 2024.

6 Includes $68,105,578 of investments in securities on loan, at value plus accrued interest and dividends, if any. The Fund includes cash collateral of $57,906,134 and non-cash collateral of $15,226,001.

PACE International Emerging Markets Equity Investments

Portfolio statistics and industry diversification – (unaudited)¹

As a percentage of net assets as of April 30, 2024

Common stocks
Automobile components	0.5	%
Automobiles	2.2
Banks	16.6
Beverages	1.1
Broadline retail	5.9
Capital markets	1.1
Chemicals	1.0
Construction materials	0.8
Consumer staples distribution & retail	4.0
Electrical equipment	3.8
Electronic equipment, instruments & components	2.3
Financial services	0.7
Food products	2.6
Ground transportation	0.7
Health care providers & services	0.5
Hotels, restaurants & leisure	4.7
Household durables	2.8
Independent power and renewable electricity producers	0.8
Insurance	2.3
Interactive media & services	5.8
IT services	1.9
Life sciences tools & services	0.2
Machinery	2.0
Metals & mining	4.1
Oil, gas & consumable fuels	4.9
Paper & forest products	0.5
Passenger airlines	1.1
Personal care products	0.4
Pharmaceuticals	0.2
Real estate management & development	2.8
Semiconductors & semiconductor equipment	11.1
Software	0.5
Specialty retail	0.5
Technology hardware, storage & peripherals	5.2
Textiles, apparel & luxury goods	0.8
Transportation infrastructure	1.5
Wireless telecommunication services	1.0
Total common stocks	98.9
Preferred stocks
Banks	0.4
Short-term investments	0.8
Investment of cash collateral from securities loaned	1.1
Total investments	101.2
Liabilities in excess of other assets	(1.2	)
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 – April 30, 2024 (unaudited)

	Number of shares		Value
Common stocks—98.9%
Argentina—0.3%
Grupo Financiero Galicia SA, ADR*		7,345	$	238,198
YPF SA, ADR*,1		32,439		712,361
				950,559
Brazil—11.1%
Atacadao SA		599,000		1,288,532
B3 SA - Brasil Bolsa Balcao		639,700		1,329,269
Banco Bradesco SA, ADR		1,145,785		3,093,619
Banco Bradesco SA		398,420		948,363
Banco BTG Pactual SA		323,400		2,080,183
Banco do Brasil SA		481,400		2,542,077
Itau Unibanco Holding SA, ADR		269,618		1,631,189
Localiza Rent a Car SA		133,946		1,264,756
Lojas Renner SA		351,400		1,037,431
MercadoLibre, Inc.*		3,606		5,260,072
Petroleo Brasileiro SA, ADR		410,881		6,972,651
Raia Drogasil SA		754,544		3,717,066
Rumo SA*		357,000		1,386,034
Sendas Distribuidora SA*		633,800		1,601,405
Suzano SA		167,800		1,889,148
TOTVS SA		344,400		1,826,595
WEG SA		478,400		3,643,785
				41,512,175
Canada—1.1%
Ivanhoe Mines Ltd., Class A*,1		317,159		4,298,977
China—29.4%
Airtac International Group		74,000		2,620,031
Alibaba Group Holding Ltd.		986,239		9,234,216
Alibaba Group Holding Ltd., ADR		30,524		2,284,721
ANTA Sports Products Ltd.		144,000		1,630,223
Bank of China Ltd., Class A		6,492,400		4,107,724
Beijing Oriental Yuhong Waterproof Technology Co. Ltd., Class A		346,100		698,001
China International Capital Corp. Ltd., Class H2		720,183		868,430
China Merchants Port Holdings Co. Ltd.		937,846		1,238,533
China Merchants Shekou Industrial Zone Holdings Co. Ltd., Class A		645,701		752,236
China Overseas Land & Investment Ltd.		1,794,000		3,298,937
China Resources Land Ltd.		268,049		963,860
China Resources Power Holdings Co. Ltd.		1,144,000		2,844,962
Contemporary Amperex Technology Co. Ltd., Class A		56,120		1,569,599
Country Garden Services Holdings Co. Ltd.1		1,648,152		1,099,548
Geely Automobile Holdings Ltd.		2,167,727		2,608,986

PACE International Emerging Markets Equity Investments
Portfolio of investments – April 30, 2024 (unaudited)

	Number of shares		Value
Common stocks—(continued)
China—(continued)
Gree Electric Appliances, Inc. of Zhuhai, Class A		1,082,900	$	6,282,183
Hengli Petrochemical Co. Ltd., Class A*		761,430		1,625,617
Huaming Power Equipment Co. Ltd., Class A		482,567		1,352,335
Jiangsu Yanghe Distillery Co. Ltd., Class A		152,100		1,990,954
Kanzhun Ltd., ADR		100,692		1,992,695
Kuaishou Technology*,2		603,707		4,232,411
Kweichow Moutai Co. Ltd., Class A		8,800		2,063,188
Li Auto, Inc., ADR*		29,855		784,589
Li Auto, Inc., Class A*		69,651		912,560
Longfor Group Holdings Ltd.1,2		2,310,500		3,422,184
Meituan, Class B*,2		263,100		3,592,506
Midea Group Co. Ltd., Class A		227,697		2,189,814
NARI Technology Co. Ltd., Class A		482,800		1,561,474
PDD Holdings, Inc., ADR*		22,931		2,870,503
PICC Property & Casualty Co. Ltd., Class H		1,010,000		1,254,806
Ping An Insurance Group Co. of China Ltd., Class A		582,000		3,308,231
Proya Cosmetics Co. Ltd., Class A		91,500		1,380,447
Shanghai Mechanical & Electrical Industry Co. Ltd., Class A		855,800		1,518,710
Shenzhen Inovance Technology Co. Ltd., Class A		253,900		2,082,109
Sungrow Power Supply Co. Ltd., Class A		183,000		2,598,799
Suofeiya Home Collection Co. Ltd., Class A		806,400		1,900,576
Tencent Holdings Ltd.		351,211		15,412,257
Trip.com Group Ltd., ADR*		69,614		3,359,572
Trip.com Group Ltd.*		56,250		2,739,789
Will Semiconductor Co. Ltd. Shanghai, Class A		86,810		1,212,996
Zijin Mining Group Co. Ltd., Class H		1,406,000		3,067,149
				110,528,461
Ghana—0.3%
Kosmos Energy Ltd.*		198,146		1,123,488
Greece—0.6%
Eurobank Ergasias Services & Holdings SA, Class A*		216,315		462,751
National Bank of Greece SA*		92,905		747,674
Piraeus Financial Holdings SA*		250,710		1,004,332
				2,214,757
Hong Kong—1.9%
AIA Group Ltd.		290,200		2,125,527
Melco Resorts & Entertainment Ltd., ADR*		255,546		1,671,271

PACE International Emerging Markets Equity Investments
Portfolio of investments – April 30, 2024 (unaudited)

	Number of shares		Value
Common stocks—(continued)
Hong Kong—(continued)
WH Group Ltd.2		4,491,683	$	3,264,735
				7,061,533
Hungary—0.6%
OTP Bank Nyrt		46,394		2,299,548
India—11.3%
Britannia Industries Ltd.*		20,747		1,185,799
Dr Reddy's Laboratories Ltd.		10,972		814,206
Havells India Ltd.		55,371		1,102,024
HDFC Bank Ltd.		210,623		3,825,036
HDFC Bank Ltd., ADR		43,979		2,533,190
ICICI Bank Ltd.		159,189		2,193,457
Infosys Ltd.		126,538		2,136,533
InterGlobe Aviation Ltd.*,2		89,740		4,279,156
Kotak Mahindra Bank Ltd.		101,995		1,982,313
Macrotech Developers Ltd.2		42,187		624,894
Mahindra & Mahindra Ltd.		83,629		2,157,117
MakeMyTrip Ltd.*		19,488		1,290,300
Nestle India Ltd.		60,611		1,819,390
Pidilite Industries Ltd.		59,918		2,185,466
Polycab India Ltd.		31,908		2,165,296
Reliance Industries Ltd.		180,880		6,349,659
Tata Consultancy Services Ltd.		65,030		2,967,975
Tata Consumer Products Ltd.		117,404		1,554,694
Titan Co. Ltd.		29,555		1,268,126
Vodafone Idea Ltd.*		366,125		57,923
				42,492,554
Indonesia—2.1%
Bank Central Asia Tbk. PT		6,120,000		3,679,859
Bank Mandiri Persero Tbk. PT		2,225,192		940,537
Bank Rakyat Indonesia Persero Tbk. PT		11,325,914		3,428,394
				8,048,790
Macau—0.9%
Galaxy Entertainment Group Ltd.		355,000		1,592,847
Sands China Ltd.*		824,000		1,943,522
				3,536,369
Mexico—3.1%
Cemex SAB de CV, ADR*		272,398		2,154,668
Grupo Aeroportuario del Pacifico SAB de CV, Class B1		128,683		2,343,836
Grupo Financiero Banorte SAB de CV, Class O		303,100		2,999,904
Southern Copper Corp.1		7,687		896,842
Wal-Mart de Mexico SAB de CV		891,300		3,325,710
				11,720,960
Peru—0.9%
Credicorp Ltd.		20,837		3,450,816

PACE International Emerging Markets Equity Investments
Portfolio of investments – April 30, 2024 (unaudited)

	Number of shares		Value
Common stocks—(continued)
Russia—0.0%†
Alrosa PJSC*,3,4		215,380	$	0
Rosneft Oil Co. PJSC*,3,4		126,429		0
				0
Saudi Arabia—1.1%
Saudi Arabian Oil Co.2		412,309		3,303,713
Saudi National Bank		78,171		782,527
				4,086,240
South Africa—3.7%
Absa Group Ltd.1		126,037		971,880
Capitec Bank Holdings Ltd.		10,690		1,323,025
Clicks Group Ltd.		74,372		1,157,138
FirstRand Ltd.1		185,822		641,485
Gold Fields Ltd., ADR		214,134		3,462,547
MTN Group Ltd.1		762,693		3,655,441
Naspers Ltd., Class N		14,229		2,723,112
				13,934,628
South Korea—10.9%
DB Insurance Co. Ltd.		30,701		2,153,517
Hana Financial Group, Inc.		82,695		3,487,811
Hyundai Mobis Co. Ltd.		10,738		1,756,729
Hyundai Motor Co.		1,596		287,082
KB Financial Group, Inc.		75,796		4,110,939
Kia Corp.		19,243		1,630,317
Samsung Biologics Co. Ltd.*,2		1,346		756,529
Samsung Electronics Co. Ltd.		325,954		18,118,687
SK Hynix, Inc.		61,160		7,547,486
WONIK IPS Co. Ltd.*		46,203		1,230,508
				41,079,605
Taiwan—12.2%
Advantech Co. Ltd.		136,000		1,581,873
Alchip Technologies Ltd.		13,000		1,226,095
ASPEED Technology, Inc.		10,000		936,350
Chailease Holding Co. Ltd.		405,000		2,136,076
eMemory Technology, Inc.		12,000		806,550
Lotes Co. Ltd.		26,000		1,138,906
MediaTek, Inc.		142,469		4,295,607
Sinbon Electronics Co. Ltd.		131,000		1,128,405
Taiwan Semiconductor Manufacturing Co. Ltd.		602,475		14,425,513
Taiwan Semiconductor Manufacturing Co. Ltd., ADR		72,079		9,899,330
Unimicron Technology Corp.		297,000		1,642,417
Voltronic Power Technology Corp.		36,000		1,703,420
Yageo Corp.		190,615		3,635,885
Zhen Ding Technology Holding Ltd.		312,000		1,104,346
				45,660,773
Thailand—2.5%
Airports of Thailand PCL		1,145,100		2,010,467

PACE International Emerging Markets Equity Investments
Portfolio of investments – April 30, 2024 (unaudited)

	Number of shares		Value
Common stocks—(continued)
Thailand—(continued)
Bangkok Dusit Medical Services PCL, Class F		2,259,700	$	1,764,558
CP ALL PCL		1,283,200		1,983,201
Kasikornbank PCL		598,300		2,100,212
SCB X PCL		584,500		1,673,821
				9,532,259
Turkey—2.0%
Akbank TAS		1,606,116		2,956,204
BIM Birlesik Magazalar AS		156,226		1,866,424
Haci Omer Sabanci Holding AS*		177,611		507,013
Turkiye Garanti Bankasi AS		910,044		2,323,467
				7,653,108
United Arab Emirates—0.3%
Abu Dhabi National Oil Co. for Distribution PJSC		1,039,730		987,047
United States—1.5%
Globant SA*		10,647		1,901,448
JBS SA		412,800		1,863,427
Las Vegas Sands Corp.		37,862		1,679,558
				5,444,433
Vietnam—0.5%
Hoa Phat Group JSC*		1,361,535		1,524,284
Vincom Retail JSC*		569,920		503,103
				2,027,387
Zambia—0.6%
First Quantum Minerals Ltd.		164,035		2,082,833
Total common stocks (cost—$356,781,691)				371,727,300

PACE International Emerging Markets Equity Investments
Portfolio of investments – April 30, 2024 (unaudited)

	Number of shares		Value
Preferred stocks—0.4%
Brazil—0.4%
Itau Unibanco Holding SA (cost $1,266,119)		213,100	$	1,286,988
Total preferred stocks (cost—$1,266,119)				1,286,988
Short-term investments: 0.8%
Investment companies: 0.8%
State Street Institutional U.S. Government Money Market Fund, 5.248%5 (cost $3,044,750)		3,044,750		3,044,750
Investment of cash collateral from securities loaned—1.1%
Money market funds—1.1%
State Street Navigator Securities Lending Government Money Market Portfolio, 5.290%5 (cost $4,246,865)		4,246,865		4,246,865
Total investments (cost $365,339,425)6—101.2%				380,305,903
Liabilities in excess of other assets—(1.2)%				(4,588,770	)
Net assets—100.0%			$	375,717,133

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	USD	116,210	ZAR	2,165,672	05/03/24	$	(1,144	)
SSB	USD	491,128	ZAR	9,237,538	05/06/24		(445	)
Net unrealized appreciation (depreciation)						$	(1,589	)

PACE International Emerging Markets Equity Investments
Portfolio of investments – April 30, 2024 (unaudited)

Fair valuation summary

The following is a summary of the fair valuations according to the inputs used as of April 30, 2024 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	$	100,790,882	$	270,936,418		$	0	$	371,727,300
Preferred stocks		1,286,988		—			—		1,286,988
Short-term investments		—		3,044,750			—		3,044,750
Investment of cash collateral from securities loaned		—		4,246,865			—		4,246,865
Total	$	102,077,870	$	278,228,033		$	0	$	380,305,903
Liabilities
Forward foreign currency contracts	$	—	$	(1,589	)	$	—	$	(1,589	)
Total	$	—	$	(1,589	)	$	—	$	(1,589	)

At April 30, 2024, 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, 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 $24,344,558, represented 6.5% of the Portfolios 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 Rates shown reflect yield at April 30, 2024.

6 Includes $12,346,370 of investments in securities on loan, at value plus accrued interest and dividends, if any. The Fund includes cash collateral of $4,246,865 and non-cash collateral of $9,334,448.

PACE Global Real Estate Securities Investments

Portfolio statistics and industry diversification – (unaudited)¹

As a percentage of net assets as of April 30, 2024

Common stocks
Diversified REITs	1.1	%
Diversified telecommunication services	2.5
Ground transportation	0.4
Health care providers & services	3.6
Health care REITs	0.6
Hotel & resort REITs	0.8
Industrial REITs	18.5
Office REITs	5.9
Real estate management & development	16.7
Residential REITs	15.6
Retail REITs	11.3
Specialized REITs	22.3
Total common stocks	99.3
Short-term investments	0.8
Investment of cash collateral from securities loaned	3.6
Total investments	103.7
Liabilities in excess of other assets	(3.7	)
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 – April 30, 2024 (unaudited)

	Number of shares		Value
Common stocks—99.3%
Australia—4.9%
Goodman Group1		98,654	$	1,992,774
National Storage REIT1		531,875		733,417
Rural Funds Group1		95,669		123,847
				2,850,038
Belgium—1.2%
Shurgard Self Storage Ltd.		17,423		714,015
Canada—2.9%
Canadian Apartment Properties REIT		22,665		705,477
Granite Real Estate Investment Trust		20,291		1,003,017
				1,708,494
Germany—2.5%
LEG Immobilien SE*		4,005		339,978
Vonovia SE		39,530		1,142,260
				1,482,238
Hong Kong—0.7%
Sino Land Co. Ltd.		398,000		425,541
Japan—11.3%
Japan Logistics Fund, Inc.		337		600,878
Japan Metropolitan Fund Invest		1,183		714,211
Katitas Co. Ltd.1		22,900		275,896
KDX Realty Investment Corp.1		285		281,106
Keisei Electric Railway Co. Ltd.1		6,500		242,144
Mitsubishi Estate Co. Ltd.		54,900		1,006,026
Mitsui Fudosan Co. Ltd.		254,400		2,589,045
Nomura Real Estate Holdings, Inc.		18,700		523,546
Star Asia Investment Corp.		848		330,823
				6,563,675
Mexico—2.1%
Corp. Inmobiliaria Vesta SAB de CV1		205,956		728,689
Prologis Property Mexico SA de CV		123,622		487,539
				1,216,228
Singapore—2.2%
Capitaland India Trust1		463,161		338,462
CapitaLand Investment Ltd.*,1		308,600		596,787
Parkway Life Real Estate Investment Trust		121,900		319,978
				1,255,227
Spain—1.3%
Cellnex Telecom SA *,2		23,051		761,944
Switzerland—1.5%
PSP Swiss Property AG, Registered Shares		7,099		877,588
United Kingdom—7.4%
Big Yellow Group PLC		63,717		857,142
Derwent London PLC		11,798		302,301
Grainger PLC		277,828		886,351
Segro PLC1		94,850		997,644
Shaftesbury Capital PLC		349,337		584,755

PACE Global Real Estate Securities Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Number of shares		Value
Common stocks—(continued)
United Kingdom—(continued)
UNITE Group PLC		57,269	$	662,060
				4,290,253
United Republic Of Tanzania—1.2%
Helios Towers PLC *,1		582,892		711,714
United States—60.1%
Alexandria Real Estate Equities, Inc.		11,657		1,350,697
American Homes 4 Rent, Class A		38,489		1,377,906
Boston Properties, Inc.		17,660		1,092,977
Brixmor Property Group, Inc.		58,844		1,300,452
CubeSmart		32,559		1,316,686
Digital Realty Trust, Inc.		4,631		642,690
Douglas Emmett, Inc.		49,993		685,404
Encompass Health Corp.		12,422		1,035,746
Equinix, Inc.		4,743		3,372,795
Equity LifeStyle Properties, Inc.		31,650		1,908,179
Essex Property Trust, Inc.		5,522		1,359,793
Extra Space Storage, Inc.		15,348		2,060,929
Farmland Partners, Inc.1		28,483		306,477
Federal Realty Investment Trust		15,745		1,640,157
Kimco Realty Corp.		46,264		861,898
Lamar Advertising Co., Class A		5,954		689,771
Mid-America Apartment Communities, Inc.		11,958		1,554,540
NNN REIT, Inc.		22,213		900,293
Phillips Edison & Co., Inc.		17,526		573,100
Prologis, Inc.		46,894		4,785,533
Rayonier, Inc.		29,985		889,355
Rexford Industrial Realty, Inc.		21,710		929,405
Ryman Hospitality Properties, Inc.		4,454		469,808
SBA Communications Corp.		2,916		542,726
Sun Communities, Inc.		13,642		1,518,627
Universal Health Services, Inc., Class B		6,319		1,076,947
Weyerhaeuser Co.		24,781		747,643
				34,990,534
Total common stocks (cost—$63,914,321)				57,847,489
Short-term investments: 0.8%
Investment companies: 0.8%
State Street Institutional U.S. Government Money Market Fund, 5.248%3 (cost $484,707)		484,707		484,707

PACE Global Real Estate Securities Investments

Portfolio of investments – April 30, 2024 (unaudited)

	Number of shares		Value
Investment of cash collateral from securities loaned—3.6%
Money market funds—3.6%
State Street Navigator Securities Lending Government Money Market Portfolio, 5.290%3 (cost $2,090,065)		2,090,065	$	2,090,065
Total investments (cost $66,489,093)4—103.7%				60,422,261
Liabilities in excess of other assets—(3.7)%				(2,168,930	)
Net assets—100.0%			$	58,253,331

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 April 30, 2024 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	$	37,915,256	$	19,932,233	$	—	$	57,847,489
Short-term investments		—		484,707		—		484,707
Investment of cash collateral from securities loaned		—		2,090,065		—		2,090,065
Total	$	37,915,256	$	22,507,005	$	—	$	60,422,261

At April 30, 2024, 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 $761,944, represented 1.3% of the Portfolios net assets at period end.

3 Rates shown reflect yield at April 30, 2024.

4 Includes $5,780,885 of investments in securities on loan, at value plus accrued interest and dividends, if any. The Fund includes cash collateral of $2,090,065 and non-cash collateral of $4,071,322.

PACE Alternative Strategies Investments
Portfolio statistics and industry diversification – (unaudited)¹ 

As a percentage of net assets as of April 30, 2024

Common stocks
Aerospace & defense	0.5	%
Air freight & logistics	0.1
Automobile components	0.1
Automobiles	0.2
Banks	1.8
Beverages	0.4
Biotechnology	0.4
Broadline retail	0.4
Building products	0.7
Capital markets	0.4
Chemicals	0.1
Commercial services & supplies	0.4
Communications equipment	0.4
Construction & engineering	0.9
Construction materials	1.3
Consumer finance	0.0	†
Consumer staples distribution & retail	0.6
Containers & packaging	0.1
Distributors	0.1
Diversified consumer services	0.0	†
Diversified telecommunication services	0.1
Electric utilities	1.3
Electrical equipment	0.6
Electronic equipment, instruments & components	0.8
Energy equipment & services	0.4
Entertainment	1.3
Financial services	0.7
Food products	0.3
Gas utilities	0.0	†
Ground transportation	0.6
Health care equipment & supplies	0.1
Health care providers & services	2.1
Health care REITs	0.2
Health care technology	0.0	†
Hotel & resort REITs	0.1
Hotels, restaurants & leisure	1.3
Household durables	0.8
Household products	0.3
Independent power and renewable electricity producers	0.2
Industrial conglomerates	0.9
Insurance	1.2
Interactive media & services	1.2
IT services	0.7
Leisure products	0.0	†
Life sciences tools & services	0.0	†
Machinery	0.9
Marine transportation	0.3
Media	0.4

PACE Alternative Strategies Investments
Portfolio statistics and industry diversification – (unaudited)¹ 

Metals & mining	1.2	%
Multi-utilities	0.6
Office REITs	0.2
Oil, gas & consumable fuels	1.1
Passenger airlines	0.0	†
Personal care products	0.2
Pharmaceuticals	0.5
Professional services	0.4
Real estate management & development	0.4
Residential REITs	0.7
Retail REITs	0.5
Semiconductors & semiconductor equipment	0.8
Software	3.7
Specialized REITs	0.3
Specialty retail	0.9
Technology hardware, storage & peripherals	0.2
Textiles, apparel & luxury goods	0.2
Tobacco	0.2
Trading companies & distributors	0.8
Water utilities	0.0	†
Wireless telecommunication services	0.7
Total common stocks	39.3
Preferred stocks
Automobiles	0.2
Exchange traded funds	1.3
Investment companies	10.7
Warrant	0.0	†
Corporate bonds
Airlines	0.1
Chemicals	0.2
Entertainment	1.2
Healthcare-products	0.3
Internet	4.1
Leisure time	1.8
Oil & gas	1.0
Real estate investment trusts	0.5
Retail	0.2
Software	0.7
Total corporate bonds	10.1
Short-term investments	30.9
Equity and foreign exchange options purchased
Call options	0.3
Put options	0.0	†
Total equity and foreign exchange options purchased	0.3
Total investments before investments sold short	92.8
Investments sold short
Common stocks
Aerospace & defense	(0.3	)
Air freight & logistics	(0.1	)
Automobile components	(0.3	)

PACE Alternative Strategies Investments
Portfolio statistics and industry diversification – (unaudited)¹ 

Automobiles	(0.6	)%
Banks	(0.3	)
Beverages	(0.2	)
Biotechnology	(0.4	)
Broadline retail	(0.3	)
Building products	(0.1	)
Capital markets	(0.4	)
Chemicals	(0.3	)
Commercial services & supplies	(0.3	)
Construction & engineering	(0.1	)
Construction materials	(0.4	)
Consumer finance	(0.3	)
Consumer staples distribution & retail	(0.3	)
Diversified telecommunication services	(0.6	)
Electrical equipment	(0.3	)
Electronic equipment, instruments & components	(0.0	)†
Energy equipment & services	(1.0	)
Entertainment	(1.0	)
Financial services	(0.2	)
Food products	(0.2	)
Gas utilities	(0.0	)†
Ground transportation	(0.3	)
Health care providers & services	(0.2	)
Health care technology	(0.1	)
Hotels, restaurants & leisure	(2.3	)
Household durables	(0.0	)†
Independent power and renewable electricity producers	(0.1	)
Industrial conglomerates	(0.0	)†
Industrial REITs	(0.1	)
Insurance	(0.3	)
Interactive media & services	(0.0	)†
IT services	(0.0	)†
Leisure products	(0.2	)
Life sciences tools & services	(0.1	)
Machinery	(0.6	)
Media	(0.5	)
Metals & mining	(1.1	)
Multi-utilities	(0.1	)
Office REITs	(0.1	)
Oil, gas & consumable fuels	(0.8	)
Paper & forest products	(0.1	)
Passenger airlines	(0.2	)
Pharmaceuticals	(0.5	)
Real estate management & development	(0.5	)
Residential REITs	(0.1	)
Retail REITs	(0.5	)
Semiconductors & semiconductor equipment	(0.1	)
Software	(4.3	)
Specialized REITs	(0.0	)†
Specialty retail	(0.7	)
Technology hardware, storage & peripherals	(0.0	)†

PACE Alternative Strategies Investments
Portfolio statistics and industry diversification – (unaudited)¹ 

Textiles, apparel & luxury goods	(0.1	)%
Trading companies & distributors	(0.2	)
Water utilities	(0.0	)†
Total common stocks	(22.2	)
Preferred stocks
Automobiles	(0.0	)†
Exchange traded funds	(4.5	)
Corporate bonds
Retail	(0.0	)†
Total investments sold short	(26.7	)
Total investments	66.1
Other assets in excess of liabilities	33.9
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 – April 30, 2024 (unaudited) 

	Number of shares		Value
Common stocks—39.3%
Australia—0.8%
Fortescue Ltd.		72,011	$	1,193,542
Glencore PLC		2,922		17,002
Helia Group Ltd.		88,578		227,357
Origin Energy Ltd.		18,944		119,564
Rio Tinto Ltd.		15,646		1,302,128
				2,859,593
Austria—0.1%
ams-OSRAM AG*		146,762		176,269
ANDRITZ AG		1,143		62,389
OMV AG		372		17,652
Wienerberger AG		1,981		70,792
				327,102
Canada—7.0%
Alamos Gold, Inc., Class A1		25,040		368,338
Black Diamond Group Ltd.		73,250		450,679
Boardwalk Real Estate Investment Trust1		14,930		768,597
Brookfield Business Partners LP1		74,793		1,405,361
Brookfield Business Partners LP1		4,650		87,045
Brookfield Infrastructure Partners LP1		24,320		653,479
Cameco Corp.1		5,020		229,039
Canadian Pacific Kansas City Ltd.1		5,940		465,874
CCL Industries, Inc., Class B1		2,820		144,006
Cenovus Energy, Inc.1		42,080		864,434
Chartwell Retirement Residences1		339,898		3,083,809
Cogeco Communications, Inc.		1,600		63,424
Colliers International Group, Inc.1		3,670		382,182
Copperleaf Technologies, Inc.*		37,330		188,731
Coveo Solutions, Inc.*,1		62,930		383,984
Crescent Point Energy Corp.1		36,420		321,170
Docebo, Inc.*,1		7,402		330,890
DREAM Unlimited Corp., Class A1		20,870		272,880
Dundee Precious Metals, Inc.		1,800		13,624
Empire Co. Ltd., Class A		26,900		626,654
Enerflex Ltd.1		92,520		541,013
Fairfax Financial Holdings Ltd.1		2,370		2,576,692
George Weston Ltd.1		2,970		390,858
Gildan Activewear, Inc.1		6,060		210,063
Great-West Lifeco, Inc.		9,200		272,061
InterRent Real Estate Investment Trust1		148,230		1,289,940
Kinross Gold Corp.1		36,860		237,747
Parkit Enterprise, Inc.*		271,038		122,067
Parkland Corp.		17,100		526,794
Pason Systems, Inc.1		53,470		607,856
Power Corp. of Canada		15,600		415,653
RB Global, Inc.1		12,940		926,245
Restaurant Brands International, Inc.1		3,880		294,298

PACE Alternative Strategies Investments
Portfolio of investments – April 30, 2024 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
Canada—(continued)
Rogers Communications, Inc., Class B1		45,294	$	1,697,166
SNC-Lavalin Group, Inc.1		47,010		1,805,069
TC Energy Corp.1		20,100		720,585
TECSYS, Inc.		14,500		408,041
Teekay Tankers Ltd., Class A		229		13,344
TerraVest Industries, Inc.1		2,035		106,772
Trican Well Service Ltd.		15,300		46,456
				24,312,920
Cayman Islands—0.0%†
Patria Investments Ltd., Class A		917		12,288
Chile—0.0%†
Antofagasta PLC		678		18,599
China—0.1%
Baidu, Inc., ADR*		1,988		205,559
Bit Digital, Inc.*		23,000		46,805
				252,364
Denmark—0.6%
Danske Bank AS		43,454		1,250,910
Novo Nordisk AS, Class B		5,844		749,447
Pandora AS		110		16,742
Rockwool AS, Class B		213		69,436
Vestas Wind Systems AS*		1,543		41,350
				2,127,885
Finland—0.0%†
Cargotec OYJ, Class B*		518		40,855
Huhtamaki OYJ		428		16,402
Konecranes OYJ		1,326		69,688
Nordea Bank Abp		1,154		13,523
				140,468
France—0.5%
Amundi SA2		1,000		69,764
AXA SA		952		32,893
Bouygues SA		1,768		65,160
Cie de Saint-Gobain SA		900		71,174
Cie Generale des Etablissements Michelin SCA		1,838		70,614
Eiffage SA		158		16,858
Elis SA		1,563		35,092
Eurazeo SE*		405		36,481
IPSOS SA		246		16,462
La Francaise des Jeux SAEM2		434		16,355
Nexans SA		668		71,140
Renault SA		1,330		65,879
Rexel SA		2,649		68,662
Rubis SCA		1,957		67,725
SCOR SE		1,078		35,173
SEB SA		1,005		118,614

PACE Alternative Strategies Investments
Portfolio of investments – April 30, 2024 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
France—(continued)
Technip Energies NV		698	$	16,438
Teleperformance SE*		6,824		618,150
TotalEnergies SE		716		51,981
Vallourec SACA*		3,706		63,805
Wendel SE		520		53,027
				1,661,447
Georgia—0.0%†
Bank of Georgia Group PLC		1,236		82,761
Germany—0.5%
Bayerische Motoren Werke AG		447		48,700
CTS Eventim AG & Co. KGaA		584		51,642
Daimler Truck Holding AG		683		30,801
Deutsche Bank AG, Registered Shares		6,625		105,818
Freenet AG		619		17,207
Heidelberg Materials AG		11,626		1,169,990
HOCHTIEF AG		316		33,275
Mercedes-Benz Group AG		869		65,732
Talanx AG		465		34,975
				1,558,140
Hong Kong—0.2%
Jardine Matheson Holdings Ltd.		1,800		68,885
Swire Pacific Ltd., Class A		75,000		635,153
				704,038
Ireland—0.1%
AerCap Holdings NV*		3,710		313,458
Ardmore Shipping Corp.		807		13,517
Smurfit Kappa Group PLC		1,573		68,158
				395,133
Italy—0.2%
Azimut Holding SpA		2,665		70,229
Banca Monte dei Paschi di Siena SpA*		80,011		385,915
Buzzi SpA		1,915		68,998
Coca-Cola HBC AG		571		18,431
Eni SpA		1,064		17,090
Hera SpA		20,249		73,109
Unipol Gruppo SpA		3,946		35,375
				669,147
Japan—2.1%
Chubu Electric Power Co., Inc.		84,600		1,085,922
Hitachi Construction Machinery Co. Ltd.		11,300		322,754
Hitachi Ltd.		2,136		197,069
Inpex Corp.		9,500		142,308
JFE Holdings, Inc.		39,100		583,595
Kansai Electric Power Co., Inc.		59,400		889,777
Komatsu Ltd.		300		8,957
Mizuho Financial Group, Inc.		29,100		562,477
Nippon Yusen KK		36,300		1,030,574

PACE Alternative Strategies Investments
Portfolio of investments – April 30, 2024 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
Japan—(continued)
Osaka Gas Co. Ltd.		1,000	$	22,236
Panasonic Holdings Corp.		24,900		217,338
SCREEN Holdings Co. Ltd.		2,600		268,261
Tokyo Electric Power Co. Holdings, Inc.*		121,500		755,764
Tokyo Kiraboshi Financial Group, Inc.		11,400		338,394
Toyota Tsusho Corp.		10,800		686,663
				7,112,089
Netherlands—0.1%
Aalberts NV		738		35,089
ASR Nederland NV		702		35,128
EXOR NV		2,003		218,678
				288,895
Norway—0.0%†
Wallenius Wilhelmsen ASA		6,526		65,733
Portugal—0.0%†
Galp Energia SGPS SA		3,869		83,111
Jeronimo Martins SGPS SA		3,220		66,241
				149,352
Singapore—0.2%
BW LPG Ltd.2		15,030		217,042
Jardine Cycle & Carriage Ltd.		13,400		258,596
Sembcorp Industries Ltd.		77,800		304,048
				779,686
South Korea—0.0%†
Coupang, Inc.*		680		15,300
Spain—0.0%†
ACS Actividades de Construccion y Servicios SA		1,280		51,265
Repsol SA		4,207		66,033
				117,298
Sweden—0.2%
Avanza Bank Holding AB		811		17,380
Boliden AB		542		17,813
Industrivarden AB, Class C		1,032		33,178
Nordnet AB publ		3,980		70,760
SKF AB, Class B		3,384		69,568
SSAB AB, Class B		2,610		14,604
Volvo AB, Class B		4,824		122,786
Volvo AB, Class A		6,126		161,336
Volvo Car AB, Class B*		9,936		30,844
				538,269
Switzerland—0.2%
Adecco Group AG, Registered Shares		15,432		539,849
BKW AG		289		42,899
Bucher Industries AG, Registered Shares		42		16,139

PACE Alternative Strategies Investments
Portfolio of investments – April 30, 2024 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
Switzerland—(continued)
Swatch Group AG, Registered Shares		2,789	$	115,630
				714,517
Thailand—0.0%†
Fabrinet*		72		12,461
United Kingdom—1.8%
Allfunds Group PLC		2,456		15,435
Associated British Foods PLC		517		17,111
Balfour Beatty PLC		3,836		17,396
Barclays PLC		124,010		312,665
Beazley PLC		4,196		34,717
BT Group PLC		58,388		74,667
Centrica PLC		645,681		1,030,682
CK Hutchison Holdings Ltd.		245,000		1,189,909
Coca-Cola Europacific Partners PLC1		3,349		241,195
DCC PLC		244		16,663
DCC PLC		—		0
Direct Line Insurance Group PLC		14,760		34,268
DS Smith PLC		3,519		15,331
easyJet PLC		10,163		68,072
Grafton Group PLC		1,462		17,196
Greggs PLC		496		16,786
HSBC Holdings PLC		42,334		366,949
International Consolidated Airlines Group SA*		7,891		17,197
J Sainsbury PLC		86,162		282,627
Kingfisher PLC		5,586		17,207
M&G PLC		6,655		16,661
Man Group PLC		5,214		16,721
Marks & Spencer Group PLC		21,633		68,921
Serco Group PLC		22,859		52,135
Serica Energy PLC		9,144		21,174
Standard Chartered PLC		109,078		937,148
Unilever PLC		7,497		387,826
Vodafone Group PLC		985,150		830,778
				6,117,437
United States—24.6%
A O Smith Corp.		151		12,509
A10 Networks, Inc.		974		12,720
AAON, Inc.		148		13,925
AbbVie, Inc.1		303		49,280
Abercrombie & Fitch Co., Class A*		75		9,114
ABIOMED, Inc.*,3		42		74
Acuity Brands, Inc.		49		12,167
Adobe, Inc.*,1		1,266		585,943
Advanced Drainage Systems, Inc.		54		8,478
Aehr Test Systems*		1,173		14,053
AES Corp.		14,308		256,113
Agilent Technologies, Inc.		32		4,385

PACE Alternative Strategies Investments
Portfolio of investments – April 30, 2024 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
United States—(continued)
Agilysys, Inc.*		161	$	13,371
Air Products & Chemicals, Inc.		939		221,923
Align Technology, Inc.*		42		11,860
Alkermes PLC*,1		876		21,497
Alphabet, Inc., Class C*,1		7,728		1,272,338
Alphabet, Inc., Class A*,1		8,074		1,314,286
Altria Group, Inc.1		16,889		739,907
A-Mark Precious Metals, Inc.1		10,704		428,909
Amazon.com, Inc.*,1		3,158		552,650
AMC Networks, Inc., Class A*,1		12,374		131,412
American Tower Corp.1		3,103		532,351
Amphastar Pharmaceuticals, Inc.*,1		2,349		96,896
Amplify Energy Corp.*		579		4,088
Amylyx Pharmaceuticals, Inc.*		5,440		9,846
Apogee Enterprises, Inc.		223		13,777
Apollo Global Management, Inc.1		1,850		200,503
Apple, Inc.1		4,823		821,502
Applied Industrial Technologies, Inc.		68		12,461
ArcBest Corp.1		430		47,691
Arch Capital Group Ltd.*		140		13,096
Archer-Daniels-Midland Co.1		3,724		218,450
Argan, Inc.		243		14,643
Arista Networks, Inc.*,1		340		87,230
Array Technologies, Inc.*		11,305		139,504
Artisan Partners Asset Management, Inc., Class A		296		12,115
AT&T, Inc.1		12,915		218,134
Atkore, Inc.		73		12,797
Axcelis Technologies, Inc.*,1		254		26,294
Badger Meter, Inc.		80		14,634
Bank of New York Mellon Corp.1		12,182		688,161
Beacon Roofing Supply, Inc.*,1		4,090		402,988
Beazer Homes USA, Inc.*,1		8,066		226,090
Bel Fuse, Inc., Class B		222		13,036
BellRing Brands, Inc.*,1		3,997		220,514
Berkshire Hathaway, Inc., Class B*,1		517		205,109
Best Buy Co., Inc.1		1,450		106,778
Bloom Energy Corp., Class A*		4,083		45,444
Blue Bird Corp.*		368		12,127
Boise Cascade Co.		91		12,037
Booking Holdings, Inc.1		229		790,515
BP PLC		5,327		34,336
Bristol-Myers Squibb Co.1		6,254		274,801
Broadcom, Inc.1		284		369,277
Buckle, Inc.		344		12,862
Build-A-Bear Workshop, Inc.		454		13,693
Builders FirstSource, Inc.*,1		2,545		465,277
Bunge Global SA1		118		12,008
Cactus, Inc., Class A		258		12,807

PACE Alternative Strategies Investments
Portfolio of investments – April 30, 2024 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
United States—(continued)
California Resources Corp.		239	$	12,634
Cal-Maine Foods, Inc.		216		11,951
Campbell Soup Co.1		9,555		436,759
Cardinal Health, Inc.1		11,263		1,160,540
Carlisle Cos., Inc.1		470		182,477
Catalyst Pharmaceuticals, Inc.*		846		12,732
Cavco Industries, Inc.*		35		12,747
Celsius Holdings, Inc.*		162		11,546
Cencora, Inc.1		1,900		454,195
Centene Corp.*,1		13,500		986,310
Central Garden & Pet Co.*,1		813		33,292
CF Industries Holdings, Inc.		53		4,185
Charter Communications, Inc., Class A*,1		496		126,946
Chemed Corp.		21		11,928
Chord Energy Corp.		73		12,920
Cintas Corp.		20		13,167
Cirrus Logic, Inc.*		147		13,020
Cisco Systems, Inc.1		16,141		758,304
Clorox Co.1		419		61,958
CNH Industrial NV*,1		8,232		93,845
Coca-Cola Consolidated, Inc.1		51		42,126
Cognizant Technology Solutions Corp., Class A		187		12,282
Cohen & Steers, Inc.		181		12,449
Colgate-Palmolive Co.1		2,182		200,569
Columbia Sportswear Co.		170		13,537
Comcast Corp., Class A1		25,326		965,174
Comfort Systems USA, Inc.		43		13,305
Conagra Brands, Inc.1		1,386		42,661
Consensus Cloud Solutions, Inc.*,1		9,236		107,507
Consolidated Edison, Inc.1		1,043		98,459
Consolidated Water Co. Ltd.		494		12,572
Constellation Energy Corp.		3,643		677,379
Copart, Inc.*		236		12,817
Corcept Therapeutics, Inc.*		553		12,896
Corebridge Financial, Inc.1		30,592		812,524
Corning, Inc.		50,782		1,695,103
CorVel Corp.*		53		12,659
Costco Wholesale Corp.1		955		690,369
CRH PLC1		42,584		3,296,853
Cricut, Inc., Class A		2,659		14,146
Crocs, Inc.*		99		12,313
Cross Country Healthcare, Inc.*		736		12,954
Customers Bancorp, Inc.*,1		408		18,633
CVS Health Corp.1		7,195		487,173
Daktronics, Inc.*		1,364		12,890
Dave & Buster's Entertainment, Inc.*		4,027		215,042
Deckers Outdoor Corp.*,1		393		321,659

PACE Alternative Strategies Investments
Portfolio of investments – April 30, 2024 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
United States—(continued)
Digital Realty Trust, Inc.	641	$	88,958
Dillard's, Inc., Class A	30		13,140
Diodes, Inc.*	191		13,945
DNOW, Inc.*	873		12,318
Dolby Laboratories, Inc., Class A	161		12,503
Donaldson Co., Inc.	178		12,852
DoorDash, Inc., Class A*,1	6,050		782,023
Dorian LPG Ltd.1	5,346		220,897
Doximity, Inc., Class A*	508		12,339
DR Horton, Inc.1	3,395		483,754
DraftKings, Inc., Class A*,1	6,450		268,062
Dream Finders Homes, Inc., Class A*,1	9,731		345,450
Dropbox, Inc., Class A*,1	20,193		467,670
Dynatrace, Inc.*	283		12,823
Eagle Materials, Inc.	50		12,535
eBay, Inc.1	12,441		641,209
Edison International	3,951		280,758
Elastic NV*	5,024		513,553
Electronic Arts, Inc.1	477		60,493
EMCOR Group, Inc.	38		13,572
Endeavor Group Holdings, Inc., Class A	41,413		1,093,717
Energy Recovery, Inc.*	904		13,470
Enovix Corp.*	17,788		111,353
Enphase Energy, Inc.*	785		85,377
Entergy Corp.	1,152		122,884
EPAM Systems, Inc.*	50		11,763
ePlus, Inc.*	170		13,070
Equinix, Inc.1	162		115,200
Equity LifeStyle Properties, Inc.1	6,916		416,966
Essent Group Ltd.	234		12,395
Eversource Energy	3,313		200,834
ExlService Holdings, Inc.*	436		12,644
Expeditors International of Washington, Inc.	111		12,355
Exponent, Inc.	164		15,073
F5, Inc.*	70		11,572
Fastenal Co.	179		12,161
FedEx Corp.1	706		184,817
Ferguson PLC1	174		36,523
First Citizens BancShares, Inc., Class A1	438		738,801
Fluence Energy, Inc.*	5,283		94,249
Ford Motor Co.1	5,772		70,130
Franklin Covey Co.*	336		13,084
Franklin Electric Co., Inc.	128		12,323
Franklin Resources, Inc.1	4,109		93,850
Freeport-McMoRan, Inc.1	9,240		461,446

PACE Alternative Strategies Investments
Portfolio of investments – April 30, 2024 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
United States—(continued)
Freshworks, Inc., Class A*	59,760	$	1,066,716
Fulton Financial Corp.	36,760		608,378
FutureFuel Corp.	1,313		7,116
Garmin Ltd.	90		13,002
GE HealthCare Technologies, Inc.1	129		9,835
GE Vernova, Inc.*	3,172		487,568
General Electric Co.1	7,206		1,166,075
Genie Energy Ltd., Class B	847		12,951
Gentex Corp.	371		12,725
Genuine Parts Co.1	2,788		438,301
GEO Group, Inc.*	1,867		27,744
Gibraltar Industries, Inc.*	171		12,220
Gilead Sciences, Inc.1	5,014		326,913
Global Industrial Co.	206		7,933
Goodyear Tire & Rubber Co.*	5,648		67,550
Graco, Inc.	144		11,549
Grand Canyon Education, Inc.*	100		13,002
Green Brick Partners, Inc.*	233		12,612
GSK PLC	1,728		35,851
Harmony Biosciences Holdings, Inc.*	429		13,260
Hawkins, Inc.	170		12,881
Healthcare Realty Trust, Inc.	60,628		862,736
Herc Holdings, Inc.	1,245		178,072
Holcim AG	802		67,134
Home Depot, Inc.	3,212		1,073,515
Hudson Technologies, Inc.*	1,197		11,874
Huntington Ingalls Industries, Inc.1	951		263,360
IDEXX Laboratories, Inc.*	26		12,812
IDT Corp., Class B	353		12,546
IES Holdings, Inc.*	109		14,728
Immersion Corp.	1,764		12,824
Incyte Corp.*,1	14,676		763,886
Infinera Corp.*	89,736		432,528
Inmode Ltd.*	689		11,844
Innospec, Inc.	105		12,600
Instructure Holdings, Inc.*,1	21,580		412,825
International Business Machines Corp.1	653		108,529
IPG Photonics Corp.*	150		12,597
ITT, Inc.	101		13,063
Jabil, Inc.1	7,603		892,288
Jack Henry & Associates, Inc.	78		12,690
JAKKS Pacific, Inc.*	579		10,949
James River Group Holdings Ltd.1	10,493		93,283
John B Sanfilippo & Son, Inc.	129		12,861
Johnson Controls International PLC	2,681		174,453
Kadant, Inc.	43		11,773
Kforce, Inc.	195		12,043
Kimberly-Clark Corp.1	5,040		688,111

PACE Alternative Strategies Investments
Portfolio of investments – April 30, 2024 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
United States—(continued)
Kimco Realty Corp.		97,117	$	1,809,290
Kinsale Capital Group, Inc.		27		9,808
Kraft Heinz Co.1		2,523		97,413
Lancaster Colony Corp.		67		12,784
Landstar System, Inc.		73		12,732
Lantheus Holdings, Inc.*		217		14,439
Lattice Semiconductor Corp.*		180		12,348
LeMaitre Vascular, Inc.		203		13,154
LendingTree, Inc.*		2,882		139,114
Lennar Corp., Class A1		1,493		226,369
Lennar Corp., Class B		89		12,495
Liberty Energy, Inc.		411		9,042
Ligand Pharmaceuticals, Inc.*		181		12,650
Lincoln Electric Holdings, Inc.		53		11,635
Liquidity Services, Inc.*		729		12,583
Lockheed Martin Corp.1		630		292,906
M/I Homes, Inc.*		108		12,552
Magnolia Oil & Gas Corp., Class A		508		12,736
Manhattan Associates, Inc.*		55		11,333
MarketAxess Holdings, Inc.		61		12,205
Marqeta, Inc., Class A*		35,308		195,959
Masco Corp.1		12,404		849,054
MasTec, Inc.*		5,401		479,015
MasterCraft Boat Holdings, Inc.*		197		3,985
Medifast, Inc.1		1,543		42,479
Medpace Holdings, Inc.*		34		13,204
Medtronic PLC1		619		49,669
Meta Platforms, Inc., Class A1		2,134		917,983
Metropolitan Bank Holding Corp.*,1		300		11,910
Mettler-Toledo International, Inc.*		10		12,297
MGIC Investment Corp.		628		12,736
Microchip Technology, Inc.		151		13,889
Microsoft Corp.1		2,664		1,037,175
MiMedx Group, Inc.*		1,879		11,575
Molina Healthcare, Inc.*,1		2,733		934,959
Molson Coors Beverage Co., Class B1		20,275		1,160,946
Monarch Casino & Resort, Inc.		121		8,200
MongoDB, Inc.*		5,786		2,112,931
Monolithic Power Systems, Inc.		20		13,387
MSC Industrial Direct Co., Inc., Class A		138		12,591
Mueller Industries, Inc.		244		13,620
Napco Security Technologies, Inc.		322		13,105
National Beverage Corp.*		184		8,188
New Fortress Energy, Inc.		3,641		95,394
New York Times Co., Class A		303		13,038
NewMarket Corp.		21		11,065
NEXTracker, Inc., Class A*		1,025		43,860
NMI Holdings, Inc., Class A*		423		13,054

PACE Alternative Strategies Investments
Portfolio of investments – April 30, 2024 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
United States—(continued)
Nucor Corp.		67	$	11,292
NVIDIA Corp.1		1,578		1,363,424
NVR, Inc.*		3		22,317
Old Dominion Freight Line, Inc.		61		11,084
Onto Innovation, Inc.*		72		13,355
OraSure Technologies, Inc.*,1		16,097		85,153
Oscar Health, Inc., Class A*		8,376		145,491
Otis Worldwide Corp.1		7,833		714,370
Owens Corning1		3,783		636,338
PACCAR, Inc.1		1,635		173,490
Palo Alto Networks, Inc.*,1		244		70,977
Park Hotels & Resorts, Inc.		30,823		497,175
Parker-Hannifin Corp.1		1,470		801,018
Paychex, Inc.		108		12,831
Paycom Software, Inc.		68		12,783
PC Connection, Inc.		205		12,704
Penn Entertainment, Inc.*		71,207		1,177,764
Perdoceo Education Corp.		749		13,707
PG&E Corp.		14,374		245,939
Photronics, Inc.*,1		12,154		333,141
Pool Corp.		34		12,326
Powell Industries, Inc.1		1,946		278,278
Power Integrations, Inc.		194		12,944
PPL Corp.		8,822		242,252
Progressive Corp.1		1,070		222,827
Progyny, Inc.*		372		11,926
PulteGroup, Inc.1		8,486		945,510
Qualys, Inc.*		78		12,785
Quanex Building Products Corp.		359		11,926
Quanta Services, Inc.		1,767		456,876
Rambus, Inc.*		223		12,225
Reliance, Inc.		40		11,389
ResMed, Inc.		70		14,979
REV Group, Inc.1		17,347		379,205
REX American Resources Corp.*		249		13,777
RH*		6,588		1,627,565
Robert Half, Inc.		175		12,099
ROBLOX Corp., Class A*		14,431		513,166
Roivant Sciences Ltd.*,1		5,817		63,405
Rollins, Inc.		294		13,101
RPC, Inc.		1,660		11,105
Saia, Inc.*		22		8,730
SEI Investments Co.		189		12,465
SentinelOne, Inc., Class A*		91,377		1,930,796
Shake Shack, Inc., Class A*		1,900		201,115
Shoals Technologies Group, Inc., Class A*		5,354		45,241
Shutterstock, Inc.		297		12,685
SIGA Technologies, Inc.		1,532		13,451

PACE Alternative Strategies Investments
Portfolio of investments – April 30, 2024 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
United States—(continued)
Simpson Manufacturing Co., Inc.		68	$	11,825
Skyline Champion Corp.*		165		12,373
Skyworks Solutions, Inc.		128		13,644
SL Green Realty Corp.		10,520		524,212
Snap-on, Inc.		46		12,326
Sprinklr, Inc., Class A*		168,986		1,975,446
SPS Commerce, Inc.*		75		13,040
Standex International Corp.		76		13,139
Steel Dynamics, Inc.		92		11,971
Stellantis NV		10,462		231,487
Stellantis NV		3,045		67,903
Steven Madden Ltd.		324		13,093
Sunnova Energy International, Inc.*		9,082		38,235
Swiss Re AG		306		33,264
T Rowe Price Group, Inc.		113		12,381
Target Hospitality Corp.*		1,193		13,272
Tenaris SA		1,759		29,212
Teradyne, Inc.		125		14,540
Terawulf, Inc.*		22,300		48,391
Terex Corp.		210		11,771
Texas Pacific Land Corp.		24		13,831
TJX Cos., Inc.1		3,860		363,187
TKO Group Holdings, Inc.		27,781		2,630,027
Trex Co., Inc.*		138		12,220
TripAdvisor, Inc.*		20,526		540,450
U.S. Lime & Minerals, Inc.		14		4,340
Uber Technologies, Inc.*,1		16,558		1,097,299
UFP Industries, Inc.		113		12,735
UFP Technologies, Inc.*		56		11,533
Ulta Beauty, Inc.*		29		11,740
Union Pacific Corp.1		800		189,728
United Rentals, Inc.1		1,560		1,042,064
United Therapeutics Corp.*,1		291		68,190
Unity Software, Inc.*		8,744		212,217
Universal Display Corp.		82		12,954
USANA Health Sciences, Inc.*		283		11,750
Veeva Systems, Inc., Class A*		61		12,112
VeriSign, Inc.*		69		11,694
Vertiv Holdings Co., Class A		7,158		665,694
Viatris, Inc.1		54,722		633,134
VICI Properties, Inc.1		7,712		220,178
Vicor Corp.*		358		11,592
Visteon Corp.*		118		13,054
Vistra Corp.		5,427		411,584
Vita Coco Co., Inc.*		541		13,114
Vital Farms, Inc.*		536		14,343
Voyager Therapeutics, Inc.*		1,531		11,972
Wabash National Corp.		475		10,977
Walgreens Boots Alliance, Inc.1		6,488		115,032

PACE Alternative Strategies Investments
Portfolio of investments – April 30, 2024 (unaudited) 

	Number of shares		Value
Common stocks—(continued)
United States—(continued)
Warrior Met Coal, Inc.		216	$	14,764
Watsco, Inc.		31		13,879
Watts Water Technologies, Inc., Class A		63		12,503
WD-40 Co.		54		12,211
Weatherford International PLC*,1		781		96,547
Wells Fargo & Co.1		9,290		551,083
West Pharmaceutical Services, Inc.		34		12,154
Williams-Sonoma, Inc.		43		12,332
Winmark Corp.		37		13,295
Worthington Enterprises, Inc.		217		12,404
WW Grainger, Inc.		13		11,978
XPEL, Inc.*		236		12,402
XPO, Inc.*,1		3,280		352,469
Xponential Fitness, Inc., Class A*,1		43,890		559,597
Yelp, Inc.*		331		13,319
YETI Holdings, Inc.*		352		12,573
Zoom Video Communications, Inc., Class A*		44,206		2,700,987
Zscaler, Inc.*,1		1,211		209,430
				85,538,865
Total common stocks (cost—$131,923,545)				136,571,787
Preferred stocks—0.2%
Germany—0.2%
Bayerische Motoren Werke AG		1,211		124,432
Volkswagen AG		3,863		473,237
Total preferred stocks (cost—$648,151)				597,669
Exchange traded funds: 1.3%
SPDR Gold Shares		12,412		2,629,731
VanEck Gold Miners ETF		51,438		1,704,141
VanEck Junior Gold Miners ETF1		7,440		301,022
Total exchange traded funds (cost—$4,284,104)				4,634,894
Investment companies—10.7%
AQR Style Premia Alternative Fund, Class R6		680,020		5,610,161
Carillon Reams Unconstrained Bond Fund, Class I		1,383,588		16,478,533
Virtus AlphaSimplex Managed Futures Strategy Fund, Class I		1,486,393		15,072,027
Total investment companies (cost—$37,946,167)				37,160,721

PACE Alternative Strategies Investments
Portfolio of investments – April 30, 2024 (unaudited) 

	Number of
	warrants		Value
Warrant: 0.0%†
Canada—0.0%
Constellation Software, Inc. expires 03/31/40*,3 (cost—$0)		100	$	0

	Face amount4
Corporate bonds—10.1%
Canada—0.1%
Chorus Aviation, Inc.
6.000%, due 06/30/261,2	CAD	736,149	513,350
United States—10.0%
Amyris, Inc.5
0.000%, due 11/15/26		525,000	15,750
Cinemark Holdings, Inc.
4.500%, due 08/15/25		3,000,000	4,023,540
GEO Corrections Holdings, Inc.
6.500%, due 02/23/26		1,000,000	1,778,290
Livent Corp.
4.125%, due 07/15/25		500,000	671,985
MicroStrategy, Inc.
0.750%, due 12/15/25		1,000,000	2,542,190
Palo Alto Networks, Inc.
0.375%, due 06/01/25		4,000,000	11,695,000
Patrick Industries, Inc.
1.750%, due 12/01/28		450,000	530,640
Royal Caribbean Cruises Ltd.
6.000%, due 08/15/25		2,250,000	6,428,430
Tandem Diabetes Care, Inc.
1.500%, due 05/01/25		1,000,000	978,616
Transocean, Inc.
4.625%, due 09/30/29		2,000,000	3,485,000

PACE Alternative Strategies Investments
Portfolio of investments – April 30, 2024 (unaudited) 

	Face amount4		Value
Corporate bonds—(continued)
United States—(continued)
Wayfair, Inc.
3.500%, due 11/15/282		1,500,000	$	2,011,950
Ziff Davis, Inc.
1.750%, due 11/01/26		500,000		453,007
				34,614,398
Total corporate bonds (cost—$31,031,075)				35,127,748

	Number of shares
Short term investments—30.9%
Investment companies—30.9%
State Street Institutional U.S. Government Money Market Fund, 5.290%6 (cost—$107,495,722)		107,495,722	107,495,722

	Number of contracts		Notional amount
Equity and foreign exchange options purchased—0.3%
Call options—0.3%
Call Eurex Dow Jones EURO STOXX 50 Dividend Futures,strike @130.000, expires 12/20/24 (Counterparty: JPMCB)		233		30,290	735,281
Call STOXX Europe 600 Basic Resources Index,strike @520.000, expires 06/21/24 (Counterparty: JPMCB)		81		42,120	370,841
Total					1,106,122
Put options—0.0%†
Put EURO STOXX 50 Index,strike @3,100.000, expires 06/21/24 (Counterparty: JPMCB)		22		68,200	118
Put EURO STOXX 50 Index,strike @3,200.000, expires 06/21/24 (Counterparty: JPMCB)		95		304,000	608

PACE Alternative Strategies Investments
Portfolio of investments – April 30, 2024 (unaudited)

	Number of contracts		Notional amount		Value
Equity and foreign exchange options purchased—(continued)
Put options—(continued)
Put Wayfair, Inc.,strike @30.000, expires 05/17/24 (Counterparty: MSCI)		35	$	1,050	$	70
Put EURO STOXX 50 Index,strike @4,800.000, expires 06/21/24 (Counterparty: JPMCB)		33		158,400		21,659
Total						22,455
Total equity and foreign exchange options purchased (cost—$499,228)						1,128,577
Total Investments before Investments Sold Short (cost—$313,827,992)—92.8%						322,717,118

	Number of shares
Investments sold short—(26.7%)
Common stocks—(22.2%)
Australia—(0.2%)
APA Group		(18,014	)	(96,131	)
Champion Iron Ltd.		(32,240	)	(146,136	)
De Grey Mining Ltd.		(265,558	)	(220,989	)
Mineral Resources Ltd.		(7,392	)	(335,318	)
				(798,574	)
Burkina Faso—(0.0%)†
IAMGOLD Corp.		(14,250	)	(50,618	)
Canada—(3.8%)
Aecon Group, Inc.		(7,900	)	(97,039	)
Allied Properties Real Estate Investment Trust		(11,090	)	(136,385	)
Altus Group Ltd.		(3,140	)	(115,231	)
Aritzia, Inc.		(1,850	)	(47,895	)
Automotive Properties Real Estate Investment Trust		(1,390	)	(9,925	)
Ballard Power Systems, Inc.		(40,800	)	(107,287	)
BCE, Inc.		(22,210	)	(729,712	)
Boston Pizza Royalties Income Fund		(5,150	)	(58,808	)
Brookfield Corp.		(2,920	)	(117,127	)
CAE, Inc.		(4,670	)	(90,099	)
Canada Goose Holdings, Inc.		(9,350	)	(105,545	)
Canadian Apartment Properties REIT		(12,570	)	(391,257	)
Canadian National Railway Co.		(3,330	)	(404,177	)
Canadian Tire Corp. Ltd.		(10,600	)	(1,024,003	)
Cogeco Communications, Inc.		(14,260	)	(565,262	)
CT Real Estate Investment Trust		(35,100	)	(342,420	)
Dream Office Real Estate Investment Trust		(5,700	)	(78,255	)

PACE Alternative Strategies Investments
Portfolio of investments – April 30, 2024 (unaudited)

	Number of shares			Value
Investments sold short—(continued)
Common stocks—(continued)
Canada—(continued)
Enbridge, Inc.		(21,030	)	$	(747,771	)
Extendicare, Inc.		(23,360	)		(123,023	)
Fiera Capital Corp.		(46,270	)		(230,569	)
Filo Corp.		(15,500	)		(277,765	)
Granite Real Estate Investment Trust		(3,260	)		(161,147	)
IGM Financial, Inc.		(5,930	)		(148,223	)
Imperial Oil Ltd.		(5,840	)		(401,523	)
Innergex Renewable Energy, Inc.		(76,390	)		(445,583	)
Ivanhoe Mines Ltd.		(59,000	)		(799,724	)
Killam Apartment Real Estate Investment Trust		(8,420	)		(105,139	)
MEG Energy Corp.		(9,490	)		(215,837	)
Metro, Inc.		(15,090	)		(771,901	)
New Gold, Inc.		(112,880	)		(195,151	)
Precision Drilling Corp.		(2,610	)		(182,993	)
Premium Brands Holdings Corp.		(2,140	)		(140,216	)
RioCan Real Estate Investment Trust		(55,010	)		(696,891	)
Sleep Country Canada Holdings, Inc.		(20,550	)		(407,970	)
SmartCentres Real Estate Investment Trust		(36,120	)		(584,574	)
Stantec, Inc.		(4,720	)		(375,810	)
Stella-Jones, Inc.		(3,400	)		(197,532	)
StorageVault Canada, Inc.		(31,760	)		(109,123	)
Suncor Energy, Inc.		(5,240	)		(199,947	)
TC Energy Corp.		(1,649	)		(59,077	)
TELUS Corp.		(41,260	)		(662,666	)
Total Energy Services, Inc.		(20,320	)		(142,881	)
Trican Well Service Ltd.		(52,300	)		(158,801	)
Whitecap Resources, Inc.		(44,760	)		(339,443	)
					(13,301,707	)
France—(0.2%)
Airbus SE		(3,121	)		(513,585	)
Sartorius Stedim Biotech		(1,341	)		(288,807	)
					(802,392	)
Germany—(0.0%)†
MTU Aero Engines AG		(135	)		(32,524	)
Siemens Energy AG		(3,437	)		(70,573	)
					(103,097	)
Ghana—(0.0%)†
Tullow Oil PLC		(84,340	)		(38,093	)
Israel—(0.0%)†
Mobileye Global, Inc.		(763	)		(21,021	)
Italy—(0.2%)
Amplifon SpA		(14,615	)		(487,941	)
Salvatore Ferragamo SpA		(3,180	)		(31,555	)
					(519,496	)

PACE Alternative Strategies Investments
Portfolio of investments – April 30, 2024 (unaudited) 

	Number of shares			Value
Investments sold short—(continued)
Common stocks—(continued)
Japan—(0.8%)
Daiichi Sankyo Co. Ltd.		(18,600	)	$	(626,033	)
Dentsu Group, Inc.		(16,200	)		(438,261	)
Eisai Co. Ltd.		(14,300	)		(587,287	)
NIDEC Corp.		(1,700	)		(79,616	)
RENOVA, Inc.		(1,600	)		(15,034	)
Sumitomo Pharma Co. Ltd.		(73,000	)		(184,231	)
Suzuki Motor Corp.		(70,300	)		(818,698	)
					(2,749,160	)
Jersey—(0.1%)
Arcadium Lithium PLC		(96,430	)		(424,292	)
Netherlands—(0.3%)
Argenx SE		(1,799	)		(672,041	)
OCI NV		(10,934	)		(294,087	)
					(966,128	)
South Korea—(0.0%)†
Delivery Hero SE		(2,125	)		(59,452	)
Sweden—(0.4%)
Beijer Ref AB		(41,143	)		(579,843	)
EQT AB		(15,937	)		(429,970	)
PowerCell Sweden AB		(9,594	)		(23,411	)
Sagax AB		(17,185	)		(430,348	)
					(1,463,572	)
Switzerland—(0.1%)
Avolta AG		(7,576	)		(286,500	)
IWG PLC		(9,868	)		(22,783	)
					(309,283	)
Turkey—(0.1%)
Eldorado Gold Corp.		(7,540	)		(107,460	)
United Kingdom—(0.6%)
Croda International PLC		(3,006	)		(172,173	)
ITM Power PLC		(288,356	)		(184,358	)
Legal & General Group PLC		(223,984	)		(657,505	)
Melrose Industries PLC		(2,593	)		(20,371	)
Ocado Group PLC		(58,082	)		(254,296	)
Oxford Nanopore Technologies PLC		(56,372	)		(69,247	)
WPP PLC		(66,605	)		(667,593	)
					(2,025,543	)
United States—(15.2%)
23andMe Holding Co.		(109,542	)		(55,012	)
ACELYRIN, Inc.		(13,235	)		(55,322	)
Air Products & Chemicals, Inc.		(225	)		(53,177	)
Alaska Air Group, Inc.		(1,860	)		(80,017	)
Albemarle Corp.		(535	)		(64,366	)
Allegiant Travel Co.		(1,490	)		(81,294	)
AMC Entertainment Holdings, Inc.		(38,153	)		(111,788	)
American Airlines Group, Inc.		(7,460	)		(100,785	)
American Water Works Co., Inc.		(807	)		(98,712	)

PACE Alternative Strategies Investments
Portfolio of investments – April 30, 2024 (unaudited)

	Number of shares			Value
Investments sold short—(continued)
Common stocks—(continued)
United States—(continued)
Apple, Inc.		(940	)	$	(160,110	)
Applied Digital Corp.		(3,726	)		(10,079	)
Aptiv PLC		(279	)		(19,809	)
Armstrong World Industries, Inc.		(1,164	)		(133,720	)
Bank of America Corp.		(18,131	)		(671,028	)
BJ's Restaurants, Inc.		(4,740	)		(154,477	)
Boeing Co.		(937	)		(157,266	)
Booking Holdings, Inc.		(90	)		(310,683	)
Brown-Forman Corp.		(2,340	)		(111,969	)
BRP, Inc.		(5,770	)		(388,201	)
Brunswick Corp.		(1,100	)		(88,704	)
Camping World Holdings, Inc.		(10,488	)		(212,592	)
Capital One Financial Corp.		(1,845	)		(264,628	)
Carrier Global Corp.		(1,147	)		(70,529	)
Cassava Sciences, Inc.		(2,383	)		(52,783	)
Caterpillar, Inc.		(2,583	)		(864,194	)
CBRE Group, Inc.		(3,060	)		(265,883	)
Certara, Inc.		(13,519	)		(231,310	)
CH Robinson Worldwide, Inc.		(2,270	)		(161,170	)
ChargePoint Holdings, Inc.		(61,372	)		(81,625	)
Cinemark Holdings, Inc.		(167,226	)		(2,866,254	)
Clear Channel Outdoor Holdings, Inc.		(77,879	)		(108,252	)
Community Health Systems, Inc.		(37,440	)		(123,552	)
Copart, Inc.		(3,720	)		(202,033	)
Cracker Barrel Old Country Store, Inc.		(1,060	)		(61,681	)
CSX Corp.		(5,380	)		(178,724	)
Cushman & Wakefield PLC		(25,210	)		(243,277	)
Deere & Co.		(826	)		(323,305	)
Delta Air Lines, Inc.		(2,790	)		(139,695	)
DTE Energy Co.		(894	)		(98,626	)
Enovix Corp.		(3,993	)		(24,996	)
Exact Sciences Corp.		(106	)		(6,291	)
Expeditors International of Washington, Inc.		(1,890	)		(210,376	)
Freeport-McMoRan, Inc.		(10,438	)		(521,273	)
FuelCell Energy, Inc.		(193,616	)		(179,637	)
GE Vernova, Inc.		(605	)		(92,995	)
GEO Group, Inc.		(61,123	)		(908,288	)
Globalstar, Inc.		(9,649	)		(12,447	)
Graco, Inc.		(2,250	)		(180,450	)
Hershey Co.		(1,430	)		(277,306	)
Hilton Grand Vacations, Inc.		(5,961	)		(248,216	)
Honeywell International, Inc.		(773	)		(148,980	)
Illinois Tool Works, Inc.		(198	)		(48,334	)
J M Smucker Co.		(2,660	)		(305,501	)
Joby Aviation, Inc.		(33,399	)		(168,665	)
Jones Lang LaSalle, Inc.		(1,550	)		(280,085	)
Kennametal, Inc.		(14,060	)		(330,832	)

PACE Alternative Strategies Investments
Portfolio of investments – April 30, 2024 (unaudited)

	Number of shares			Value
Investments sold short—(continued)
Common stocks—(continued)
United States—(continued)
Kinder Morgan, Inc.		(1,979	)	$	(36,176	)
Kura Sushi USA, Inc.		(381	)		(41,940	)
Landstar System, Inc.		(510	)		(88,949	)
Lattice Semiconductor Corp.		(583	)		(39,994	)
Leggett & Platt, Inc.		(7,130	)		(128,839	)
Lemonade, Inc.		(2,175	)		(37,475	)
Luminar Technologies, Inc.		(77,947	)		(114,582	)
Markel Group, Inc.		(150	)		(218,760	)
Martin Marietta Materials, Inc.		(1,470	)		(862,993	)
McDonald's Corp.		(2,458	)		(671,132	)
MicroStrategy, Inc.		(2,513	)		(2,676,420	)
MicroVision, Inc.		(87,630	)		(127,064	)
Moderna, Inc.		(6,611	)		(729,259	)
MongoDB, Inc.		(161	)		(58,794	)
MP Materials Corp.		(9,042	)		(144,672	)
NextDecade Corp.		(48,175	)		(309,284	)
Nucor Corp.		(1,576	)		(265,603	)
NVIDIA Corp.		(161	)		(139,107	)
Old Dominion Freight Line, Inc.		(1,460	)		(265,297	)
Oshkosh Corp.		(3,234	)		(363,081	)
Palo Alto Networks, Inc.		(40,320	)		(11,728,685	)
Patrick Industries, Inc.		(3,093	)		(323,188	)
PepsiCo, Inc.		(2,250	)		(395,798	)
Pinnacle Financial Partners, Inc.		(3,509	)		(269,140	)
Pliant Therapeutics, Inc.		(6,621	)		(78,260	)
Polaris, Inc.		(1,240	)		(105,598	)
PowerSchool Holdings, Inc.		(18,566	)		(321,563	)
Public Service Enterprise Group, Inc.		(1,576	)		(108,870	)
PureCycle Technologies, Inc.		(19,233	)		(89,818	)
QuantumScape Corp.		(45,363	)		(245,867	)
Ralph Lauren Corp.		(520	)		(85,093	)
Redfin Corp.		(38,382	)		(215,323	)
Revance Therapeutics, Inc.		(28,202	)		(101,809	)
Rivian Automotive, Inc.		(49,994	)		(444,947	)
ROBLOX Corp.		(10,210	)		(363,068	)
Rockwell Automation, Inc.		(740	)		(200,510	)
Royal Caribbean Cruises Ltd.		(43,558	)		(6,082,004	)
Saia, Inc.		(150	)		(59,525	)
SEI Investments Co.		(2,850	)		(187,958	)
Solid Power, Inc.		(90,773	)		(153,406	)
Southwest Airlines Co.		(2,790	)		(72,373	)
Steel Dynamics, Inc.		(2,065	)		(268,698	)
Synchrony Financial		(15,238	)		(670,167	)
T Rowe Price Group, Inc.		(1,710	)		(187,365	)
Targa Resources Corp.		(3,109	)		(354,613	)
Tellurian, Inc.		(18,633	)		(8,014	)
Tesla, Inc.		(437	)		(80,093	)
Texas Pacific Land Corp.		(36	)		(20,747	)

PACE Alternative Strategies Investments
Portfolio of investments – April 30, 2024 (unaudited)

	Number of shares			Value
Investments sold short—(continued)
Common stocks—(continued)
United States—(continued)
Thor Industries, Inc.		(1,410	)	$	(140,182	)
Toast, Inc.		(27,398	)		(647,415	)
Trade Desk, Inc.		(7,769	)		(643,662	)
Transocean Ltd.		(559,858	)		(2,922,459	)
Triumph Group, Inc.		(18,085	)		(241,616	)
United Airlines Holdings, Inc.		(2,790	)		(143,573	)
United Rentals, Inc.		(199	)		(132,930	)
Unity Software, Inc.		(13,655	)		(331,407	)
Upstart Holdings, Inc.		(9,256	)		(204,835	)
Virgin Galactic Holdings, Inc.		(68,372	)		(59,491	)
Vornado Realty Trust		(9,711	)		(252,777	)
Vulcan Materials Co.		(2,170	)		(559,057	)
Wayfair, Inc.		(27,842	)		(1,396,276	)
WEC Energy Group, Inc.		(1,931	)		(159,578	)
Werner Enterprises, Inc.		(2,570	)		(87,894	)
Williams Cos., Inc.		(1,101	)		(42,234	)
Winnebago Industries, Inc.		(10,859	)		(668,697	)
Wynn Resorts Ltd.		(2,217	)		(203,188	)
Ziff Davis, Inc.		(1,200	)		(60,132	)
					(52,914,151	)
Zambia—(0.2%)
First Quantum Minerals Ltd.		(43,900	)		(557,420	)
Total common stocks (proceeds—$(73,638,285))					(77,137,936	)
Preferred stocks—(0.0%)†
Germany—(0.0%)†
Dr Ing hc F Porsche AG		(503	)		(44,780	)
Volkswagen AG		(178	)		(21,806	)
					(66,586	)
Total preferred stocks (proceeds—$(74,315))					(66,586	)
Exchange traded funds: (4.5)%
BMO S&P 500 Index ETF		(10,220	)		(562,651	)

PACE Alternative Strategies Investments
Portfolio of investments – April 30, 2024 (unaudited)

	Number of shares			Value
Exchange traded funds—(continued)
iShares MSCI USA Momentum Factor ETF		(7,500	)	$	(1,328,325	)
SPDR S&P 500 ETF Trust		(9,429	)		(4,733,169	)
SPDR Bloomberg High Yield Bond ETF		(5,440	)		(508,259	)
Industrial Select Sector SPDR Fund		(12,151	)		(1,476,589	)
Invesco QQQ Trust		(930	)		(394,869	)
iShares Russell 2000 ETF		(15,864	)		(3,107,758	)
iShares Core S&P/TSX Capped Composite Index ETF		(111,440	)		(2,807,351	)
SPDR Dow Jones Industrial Average ETF Trust		(620	)		(234,441	)
ARK Innovation ETF		(989	)		(42,982	)
SPDR S&P Regional Banking ETF		(8,270	)		(388,855	)
iShares Semiconductor ETF		(477	)		(102,073	)
Total exchange traded funds (proceeds—$(15,284,001))					(15,687,322	)

	Face amount
Corporate bonds—(0.0%)†
United States—(0.0%)†
Patrick Industries, Inc.
4.750%, due 05/01/29 (proceeds—$(98,000))	$	(100,000	)		(90,903	)
Total investments sold short (proceeds—$(89,094,601))					(92,982,747	)
Other assets in excess of liabilities—33.9%					117,828,828
Net Assets—100.0%				$	347,563,199

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	$	(492,591	)	$	(408,193	)

PACE Alternative Strategies Investments
Portfolio of investments – April 30, 2024 (unaudited)

Notional amount		Number of contracts	Call options	Counterparty	Expiration date	Premiums received		Current Value			Unrealized appreciation (depreciation)
USD	700	14	Call Vertiv Holdings Co., strike @ 50.000	WF	07/19/24	$	6,633	$	(58,660	)	$	(52,027	)
Total						$	91,031	$	(551,251	)	$	(460,220	)

Notional amount		Number of contracts	Put options	Counterparty	Expiration date	Premiums received		Current Value			Unrealized appreciation (depreciation)
EUR	42,120	81	Put STOXX Europe 600 Basic Resources Index, strike @ 520.000	JPMCB	06/21/24	$	116,378	$	(8,644	)	$	107,734
EUR	6,555	69	Put Eurex Dow Jones EURO STOXX 50 Dividend Futures, strike @ 95.000	JPMCB	12/20/24		31,094		(74	)		31,020
EUR	31,200	312	Put Eurex Dow Jones EURO STOXX 50 Dividend Futures, strike @ 100.000	JPMCB	12/20/24		106,369		(333	)		106,036
EUR	25,630	233	Put Eurex Dow Jones EURO STOXX 50 Dividend Futures, strike @ 110.000	BNP	12/20/24		103,603		(249	)		103,354
Total						$	357,444	$	(9,300	)	$	348,144
Total equity options written						$	448,475	$	(560,551	)	$	(112,076	)

Futures contracts

Number of contracts	Currency		Expiration date	Current notional amount			Value			Unrealized appreciation (depreciation)
Index futures buy contracts:
14	JPY	OSE Nikkei 225 Index Futures	June 2024	$	3,526,985		$	3,414,894		$	(112,091	)
20	USD	S&P 500 Index Futures	June 2024		5,186,811			5,067,000			(119,811	)
Total				$	8,713,796		$	8,481,894		$	(231,902	)
Index futures sell contracts:
28	EUR	Eurex EURO STOXX 50 Futures	June 2024	$	(1,472,182	)	$	(1,463,303	)	$	8,879
130	EUR	EURO STOXX 600 Index Futures	June 2024		(3,467,223	)		(3,489,906	)		(22,683	)
26	USD	Russell 2000 Value Index Futures	June 2024		(2,731,184	)		(2,581,280	)		149,904
1	USD	S&P 500 Index Futures	June 2024		(262,049	)		(253,350	)		8,699
Total				$	(7,932,638	)	$	(7,787,839	)	$	144,799
Net unrealized appreciation (depreciation)										$	(87,103	)

PACE Alternative Strategies Investments
Portfolio of investments – April 30, 2024 (unaudited)

Centrally cleared interest rate swap agreements

Notional amount (000)		Maturity date	Payment frequency	Payments made by the portfolio7	Payments received by the Portfolio7	Value			Unrealized appreciation (depreciation)
GBP	37,000	03/19/26	Annual	4.246%	12 Month GBPSONIA	$	(115,329	)	$	(115,329	)
GBP	37,862	03/19/26	Annual	4.161	12 Month GBPSONIA		(155,060	)		(155,060	)
GBP	75,415	06/18/26	Annual	4.270	12 Month GBPSONIA		(104,118	)		(138,195	)
JPY	3,116,747	12/20/28	Annual	12 Month JPY TONA	0.580%		(35,649	)		(35,559	)
JPY	1,984,550	12/20/28	Annual	12 Month JPY TONA	0.659		(72,580	)		(72,508	)
JPY	190,000	03/21/29	Annual	12 Month JPY TONA	0.584		587			585
JPY	290,000	06/19/29	Annual	12 Month JPY TONA	0.550		8,178			5,131
JPY	1,195,671	06/21/33	Annual	12 Month JPY TONA	0.621		156,440			156,466
JPY	207,643	09/20/33	Annual	12 Month JPY TONA	0.619		32,963			32,973
JPY	1,237,600	12/20/33	Annual	12 Month JPY TONA	0.956		(28,840	)		(53,350	)
JPY	1,375,713	12/20/33	Annual	12 Month JPY TONA	1.018		(84,095	)		(84,091	)
JPY	125,000	03/21/34	Annual	12 Month JPY TONA	0.980		(1,433	)		(1,434	)
JPY	135,000	06/19/34	Annual	12 Month JPY TONA	0.905		7,906			7,909
KRW	41,442,102	06/19/27	Quarterly	3.218	3 Month KRW COD Rate		(268,017	)		(268,017	)
USD	46,600	03/19/26	At Maturity	12 Month SOFR	4.017		297,373			297,373
USD	46,624	03/19/26	At Maturity	12 Month SOFR	3.970		317,976			317,976
Total						$	(43,698	)	$	(105,130	)

PACE Alternative Strategies Investments
Portfolio of investments – April 30, 2024 (unaudited)

OTC Total return swap agreements

Counterparty	Notional amount (000)		Maturity Date	Payment frequency	Payment made by the Portfolio7	Payments received by the Portfolio7		Upfront payments received (made)		Value			Unrealized appreciation (depreciation)
BB	EUR	—		At Maturity	EURO STOXX 50 Index		0.000%	$	—	$	15,981		$	15,981
BB	USD	1		At Maturity	S&P 500 Index		0.000		—		(14,312	)		(14,312	)
GSI	USD	—	10/18/24	At Maturity	0.000%		GS FX Intraday		—		27			27
JPMCB	USD	8	09/30/24	At Maturity	Provident Financial Services, Inc.		5.020		—		(247	)		(247	)
JPMCB	USD	10	09/30/24	At Maturity	5.620		Lakeland Bancorp, Inc.		—		906			906
JPMCB	USD	90	10/18/24	At Maturity	5.620		Albertsons Cos., Inc.		—		(50,348	)		(50,348	)
JPMCB	EUR	16	02/24/25	At Maturity	3.991		Veolia Environnement SA		—		16,042			16,042
JPMCB	EUR	7	02/24/25	At Maturity	Enel SpA		3.991		—		(2,331	)		(2,331	)
JPMCB	EUR	12	02/24/25	At Maturity	3.991		Engie SA		—		6,598			6,598
JPMCB	EUR	4	02/24/25	At Maturity	Iberdrola SA—Rights		3.991		—		(987	)		(987	)
JPMCB	EUR	15	02/24/25	At Maturity	3.991		Siemens Energy AG		—		25,887			25,887
JPMCB	EUR	—	03/06/25	At Maturity	STOXX Europe 600 Industrial Goods & Services Index		3.991		—		2,610			2,610
JPMCB	EUR	1	03/06/25	At Maturity	STOXX Europe 600 Utilities Index		3.991		—		(8,567	)		(8,567	)
JPMCB	GBP	4	03/06/25	At Maturity	National Grid PLC		5.200		—		(1,029	)		(1,029	)
JPMCB	GBP	5	03/06/25	At Maturity	5.200		Shell PLC		—		(1,701	)		(1,701	)
JPMCB	KRW	—	03/07/25	At Maturity	5.330		Hyundai Motor Co.		—		1,387			1,387
JPMCB	KRW	—	03/07/25	At Maturity	Ecopro Co. Ltd.		5.330		—		(553	)		(553	)
JPMCB	KRW	—	03/07/25	At Maturity	Ecopro BM Co. Ltd.		5.330		—		(1,236	)		(1,236	)
JPMCB	KRW	—	03/07/25	At Maturity	LG Energy Solution Ltd.		5.330		—		(1,660	)		(1,660	)
JPMCB	USD	12	05/08/25	At Maturity	5.620		Amedisys, Inc.		—		(3,911	)		(3,911	)
JPMCB	USD	7	05/27/25	At Maturity	5.660		GCI Liberty, Inc.		—		329			329
JPMCB	USD	9	07/07/25	At Maturity	5.620		American Equity Investment Life Holding Co.		—		(1,025	)		(1,025	)
JPMCB	USD	4	07/07/25	At Maturity	Brookfield Asset Management Ltd.		5.020		—		5,550			5,550
JPMCB	USD	19	07/28/25	At Maturity	Exxon Mobil Corp.		5.020		—		40,219			40,219
JPMCB	JPY	—	08/12/25	At Maturity	Daikin Industries Ltd.		0.077		—		(3,622	)		(3,622	)
JPMCB	JPY	2	08/12/25	At Maturity	FANUC Corp.		0.077		—		(127	)		(127	)

PACE Alternative Strategies Investments
Portfolio of investments – April 30, 2024 (unaudited)

Counterparty	Notional amount (000)		Maturity Date	Payment frequency	Payment made by the Portfolio7		Payments received by the Portfolio6	Upfront payments received (made)		Value			Unrealized appreciation (depreciation)
JPMCB	USD	27	08/14/25	At Maturity		5.620%	Capri Holdings Ltd.	$	—	$	(69,013	)	$	(69,013	)
JPMCB	USD	29	08/14/25	At Maturity		5.610	Chinook Therapeutics, Inc.		—		11,268			11,268
JPMCB	GBP	43	09/15/25	At Maturity		Smurfit Kappa Group PLC	4.900%		—		76,557			76,557
JPMCB	USD	44	09/15/25	At Maturity		5.620	Westrock Co.		—		(56,975	)		(56,975	)
JPMCB	USD	23	10/10/25	At Maturity		5.620	SP Plus Corp.		—		(21,174	)		(21,174	)
JPMCB	USD	8	10/14/25	At Maturity		5.620	Pioneer Natural Resources Co.		—		(9,290	)		(9,290	)
JPMCB	USD	50	10/20/25	At Maturity		5.620	Olink Holding AB		—		(10,553	)		(10,553	)
JPMCB	CNY	20	11/10/25	At Maturity		5.330	Sany Heavy Industry Co. Ltd.		—		1,387			1,387
JPMCB	USD	25	12/11/25	At Maturity		5.620	Cerevel Therapeutics Holdings, Inc.		—		12,717			12,717
JPMCB	USD	20	12/22/25	At Maturity		5.620	United States Steel Corp.		—		(79,574	)		(79,574	)
JPMCB	USD	58	01/12/26	At Maturity		5.620	Juniper Networks, Inc.		—		(133,079	)		(133,079	)
JPMCB	USD	28	01/12/26	At Maturity		5.620	Axonics, Inc.		—		(32,540	)		(32,540	)
JPMCB	USD	20	01/13/26	At Maturity		0.000	Mirati Therapeutics, Inc.		—		14,093			14,093
JPMCB	USD	290	01/16/26	At Maturity		5.620	Southwestern Energy Co.		—		(14,512	)		(14,512	)
JPMCB	USD	25	01/16/26	At Maturity		Chesapeake Energy Corp.	5.020		—		7,634			7,634
JPMCB	USD	5	01/20/26	At Maturity		5.620	ANSYS, Inc.		—		(99,483	)		(99,483	)
JPMCB	USD	2	01/20/26	At Maturity		Synopsys, Inc.	5.020		—		72,088			72,088
JPMCB	SEK	86	01/26/26	At Maturity		4.228	Kindred Group PLC		—		(4,688	)		(4,688	)
JPMCB	USD	18	01/30/26	At Maturity		5.620	McGrath RentCorp		—		(244,422	)		(244,422	)
JPMCB	USD	20	01/30/26	At Maturity		WillScot Mobile Mini Holdings Corp.	5.020		—		124,302			124,302
JPMCB	EUR	15	02/09/26	At Maturity		4.206	MorphoSys AG		—		(12,552	)		(12,552	)
JPMCB	GBP	47	02/09/26	At Maturity		Barratt Developments PLC	4.900		—		9,447			9,447
JPMCB	GBP	33	02/09/26	At Maturity		5.500	Redrow PLC		—		(6,593	)		(6,593	)
JPMCB	USD	25	02/09/26	At Maturity		5.620	Catalent, Inc.		—		(20,748	)		(20,748	)
JPMCB	USD	11	02/13/26	At Maturity		5.620	Masonite International Corp.		—		18,764			18,764
JPMCB	AUD	42	02/19/26	At Maturity		4.620	Altium Ltd.		—		22,071			22,071
JPMCB	USD	12	02/23/26	At Maturity		Capital One Financial Corp.	5.020		—		5,948			5,948

PACE Alternative Strategies Investments
Portfolio of investments – April 30, 2024 (unaudited)

Counterparty	Notional amount (000)		Maturity Date	Payment frequency	Payment made by the Portfolio7		Payments received by the Portfolio7	Upfront payments received (made)		Value			Unrealized appreciation (depreciation)
JPMCB	USD	14	02/23/26	At Maturity		5.620%	Discover Financial Services	$	—	$	13,845		$	13,845
JPMCB	USD	103	02/26/26	At Maturity		5.620	Enerplus Corp.		—		(77,278	)		(77,278	)
JPMCB	USD	10	02/26/26	At Maturity		Chord Energy Corp.	5.020%		—		71,896			71,896
JPMCB	AUD	154	03/04/26	At Maturity		4.620	CSR Ltd.		—		4,998			4,998
JPMCB	AUD	143	03/16/26	At Maturity		4.620	Alumina Ltd		—		11,575			11,575
JPMCB	USD	4	03/16/26	At Maturity		Alcoa Corp.	5.020		—		4,730			4,730
JPMCB	USD	6	03/23/26	At Maturity		Utilities Select Sector SPDR Fund	5.330		—		(19,024	)		(19,024	)
JPMCB	USD	4	03/23/26	At Maturity		Industrial Select Sector SPDR Fund	5.330		—		2,043			2,043
JPMCB	USD	38	04/06/26	At Maturity		Schlumberger NV	5.020		—		250,913			250,913
JPMCB	USD	54	04/06/26	At Maturity		5.620	ChampionX Corp.		—		(264,160	)		(264,160	)
JPMCB	USD	6	04/09/26	At Maturity		5.620	Shockwave Medical, Inc.		—		26,310			26,310
JPMCB	GBP	58	04/23/26	At Maturity		5.500	DS Smith PLC		—		198			198
JPMCB	USD	1	04/23/26	At Maturity		5.620	Encore Wire Corp.		—		(3,047	)		(3,047	)
JPMCB	USD	7	04/23/26	At Maturity		International Paper Co.	5.020		—		(3,047	)		(3,047	)
JPMCB	USD	3	04/24/26	At Maturity		CoStar Group, Inc.	5.020		—		(13,997	)		(13,997	)
JPMCB	USD	151	04/24/26	At Maturity		5.620	Matterport, Inc.		—		(15,029	)		(15,029	)
JPMCB	USD	53	04/29/26	At Maturity		5.620	HashiCorp, Inc.		—		(23,743	)		(23,743	)
JPMCB	USD	9	05/01/26	At Maturity		0.000	Heartland Financial USA, Inc.		—		(79	)		(79	)
JPMCB	USD	5	05/01/26	At Maturity		UMB Financial Corp.	0.000		—		(1,904	)		(1,904	)
JPMCB	USD	46	05/01/26	At Maturity		0.000	Deciphera Pharmaceuticals, Inc.		—		1,032			1,032
MSCI	EUR	—		At Maturity		EURO STOXX 50 Index	0.000		—		(11,818	)		(11,818	)
MSCI	USD	3	10/18/24	At Maturity		0.000	GS FX Intraday		—		1,949			1,949
MSCI	USD	2	10/18/24	At Maturity		0.000	MSESLRLS Index		—		572			572
MSCI	USD	3	10/18/24	At Maturity		0.000	SPX Bespoke 3% threshold intraday momentum strategy		—		(831	)		(831	)
								$	—	$	(458,936	)	$	(458,936	)

PACE Alternative Strategies Investments
Portfolio of investments – April 30, 2024 (unaudited)

Forward foreign currency contracts

Counterparty	Sell		Purchase		Settlement date	Unrealized appreciation (depreciation)
BB	IDR	4,941,862,000	USD	315,012	05/02/24	$	11,084
BB	PLN	631,000	USD	158,806	05/02/24		3,249
BB	USD	155,478	BRL	775,000	05/02/24		(6,227	)
BB	CAD	211,000	USD	155,996	05/07/24		2,711
BB	PHP	8,782,000	USD	156,055	05/07/24		4,050
BB	USD	155,488	CAD	211,000	05/07/24		(2,202	)
BB	USD	311,672	CLP	298,750,000	05/08/24		(520	)
BB	USD	158,859	EUR	146,000	05/08/24		(3,017	)
BB	COP	1,231,860,000	USD	310,808	05/15/24		(2,578	)
BB	USD	160,055	EUR	146,000	05/15/24		(4,170	)
BB	USD	159,598	CZK	3,716,000	05/22/24		(1,935	)
BB	MYR	755,000	USD	158,039	05/23/24		(362	)
BB	USD	159,653	MYR	755,000	05/23/24		(1,252	)
BB	USD	154,578	IDR	2,426,770,000	05/31/24		(5,427	)
BB	USD	155,786	MYR	739,000	05/31/24		(665	)
BB	CAD	211,000	USD	155,555	06/06/24		2,199
BB	COP	613,024,000	USD	159,121	06/07/24		3,683
BB	HUF	56,761,000	USD	154,675	06/07/24		208
BB	USD	155,026	MYR	736,000	06/07/24		(467	)
BB	USD	156,343	PHP	8,657,000	06/13/24		(6,631	)
BB	CLP	151,306,000	USD	161,002	06/14/24		3,469
BB	MYR	732,000	USD	157,048	06/14/24		3,260
BB	USD	153,790	COP	612,702,000	06/14/24		1,396
BB	CZK	3,661,000	USD	157,261	06/21/24		1,897
BB	MYR	745,000	USD	157,742	06/21/24		1,153
BB	CLP	152,931,000	USD	161,060	06/28/24		1,844
BB	USD	156,234	PHP	8,793,000	06/28/24		(4,220	)
BB	CLP	305,786,000	USD	320,104	07/05/24		1,764
BB	COP	1,201,589,000	USD	305,702	07/05/24		2,360
BB	EUR	146,000	USD	157,813	07/05/24		1,587
BB	MYR	746,000	USD	157,288	07/05/24		347
BB	USD	310,556	COP	1,201,589,000	07/05/24		(7,214	)
BB	USD	156,332	HUF	57,437,000	07/05/24		(208	)
BB	USD	156,904	MYR	746,000	07/05/24		37
BB	EUR	144,000	USD	157,059	07/11/24		2,930
BB	USD	315,134	CLP	296,260,000	07/11/24		(6,722	)
BB	PLN	634,000	USD	155,377	07/18/24		(786	)
BB	USD	9,237	GBP	7,400	07/18/24		15
BB	PEN	573,000	USD	154,986	07/25/24		2,917
BB	USD	311,220	CLP	295,610,000	07/25/24		(3,514	)
BB	USD	152,256	CLP	145,447,000	08/05/24		(868	)
BB	USD	151,178	COP	596,932,000	08/05/24		(1,210	)
BB	USD	155,266	MYR	737,000	08/05/24		90
BNP	NOK	1,634,000	USD	155,518	05/02/24		8,424
BNP	USD	153,547	COP	615,384,000	05/02/24		3,318
BNP	USD	153,572	CZK	3,589,000	05/02/24		(1,297	)
BNP	USD	156,595	EUR	144,000	05/02/24		(2,918	)
BNP	AUD	482,000	USD	313,768	05/08/24		1,472

PACE Alternative Strategies Investments 

Portfolio of investments – April 30, 2024 (unaudited) 

Counterparty	Sell		Purchase		Settlement date	Unrealized appreciation (depreciation)
BNP	CHF	136,000	USD	157,328	05/08/24	$	9,299
BNP	HUF	56,278,000	USD	153,637	05/08/24		245
BNP	INR	12,977,000	USD	156,225	05/08/24		717
BNP	USD	313,526	AUD	482,000	05/08/24		(1,230	)
BNP	USD	155,154	HUF	56,278,000	05/08/24		(1,762	)
BNP	IDR	4,915,614,000	USD	311,186	05/13/24		8,928
BNP	CAD	211,000	USD	157,136	05/14/24		3,834
BNP	USD	156,710	CAD	211,000	05/14/24		(3,408	)
BNP	HUF	56,460,000	USD	155,065	05/15/24		1,236
BNP	USD	155,993	CLP	152,740,000	05/15/24		3,073
BNP	USD	156,225	HUF	56,460,000	05/15/24		(2,396	)
BNP	USD	156,523	INR	13,041,000	05/15/24		(284	)
BNP	USD	158,465	NZD	257,000	05/15/24		(7,028	)
BNP	CAD	212,000	USD	157,325	05/21/24		3,280
BNP	USD	156,385	CAD	212,000	05/21/24		(2,340	)
BNP	USD	154,224	CAD	209,000	05/28/24		(2,343	)
BNP	HUF	55,616,000	USD	151,750	05/31/24		350
BNP	SEK	1,596,000	USD	151,703	05/31/24		6,700
BNP	USD	151,949	NZD	252,000	05/31/24		(3,459	)
BNP	USD	155,506	CAD	211,000	06/06/24		(2,150	)
BNP	AUD	240,000	USD	156,248	06/07/24		608
BNP	INR	25,796,000	USD	308,530	06/07/24		(274	)
BNP	NOK	1,645,000	USD	151,938	06/07/24		3,720
BNP	SEK	1,616,000	USD	151,062	06/07/24		4,195
BNP	USD	152,963	CHF	138,000	06/07/24		(2,250	)
BNP	USD	154,761	HUF	56,761,000	06/07/24		(294	)
BNP	USD	155,227	IDR	2,453,557,000	06/07/24		(4,458	)
BNP	USD	310,220	INR	25,796,000	06/07/24		(1,418	)
BNP	COP	612,702,000	USD	161,543	06/14/24		6,358
BNP	NOK	1,637,000	USD	153,688	06/14/24		6,165
BNP	NZD	254,000	USD	156,613	06/14/24		6,944
BNP	USD	155,929	HUF	56,835,000	06/14/24		(1,306	)
BNP	USD	153,763	NZD	254,000	06/14/24		(4,094	)
BNP	CAD	213,000	USD	157,190	06/20/24		2,343
BNP	USD	154,540	CAD	213,000	06/20/24		308
BNP	CLP	298,490,000	USD	301,936	06/21/24		(8,830	)
BNP	COP	612,945,000	USD	153,443	06/21/24		(1,634	)
BNP	INR	13,063,000	USD	156,033	06/21/24		(268	)
BNP	USD	154,441	EUR	145,000	06/21/24		618
BNP	CAD	212,000	USD	156,505	06/27/24		2,366
BNP	NZD	259,000	USD	156,166	06/27/24		3,551
BNP	USD	154,782	CAD	212,000	06/27/24		(642	)
BNP	EUR	144,000	USD	156,920	06/28/24		2,883
BNP	INR	13,018,000	USD	155,850	06/28/24		126
BNP	SEK	1,648,000	USD	151,717	06/28/24		1,794
BNP	USD	153,421	CZK	3,636,000	06/28/24		893
BNP	USD	155,527	HUF	57,065,000	06/28/24		(369	)
BNP	USD	156,831	SEK	1,648,000	06/28/24		(6,909	)
BNP	COP	1,216,256,000	USD	307,014	07/02/24		(174	)

PACE Alternative Strategies Investments 

Portfolio of investments – April 30, 2024 (unaudited) 

Counterparty	Sell		Purchase		Settlement date	Unrealized appreciation (depreciation)
BNP	CHF	285,000	USD	316,892	07/05/24	$	4,641
BNP	USD	157,117	EUR	146,000	07/05/24		(891	)
BNP	USD	156,356	INR	13,087,000	07/05/24		155
BNP	USD	157,203	NOK	1,701,000	07/05/24		(3,833	)
BNP	USD	156,475	NZD	263,000	07/05/24		(1,502	)
BNP	USD	156,548	PHP	8,839,000	07/05/24		(3,760	)
BNP	NZD	259,000	USD	156,785	07/11/24		4,169
BNP	USD	310,566	COP	1,182,994,000	07/11/24		(12,198	)
BNP	USD	157,064	NOK	1,672,000	07/11/24		(6,287	)
BNP	USD	156,064	CAD	215,000	07/17/24		313
BNP	CHF	3,000	USD	3,318	07/18/24		26
BNP	EUR	147,000	USD	156,765	07/18/24		(626	)
BNP	GBP	50,800	USD	63,617	07/18/24		113
BNP	SEK	252,300	USD	23,283	07/18/24		308
BNP	USD	309,188	CLP	305,746,000	07/18/24		9,082
BNP	USD	151,990	COP	609,798,000	07/18/24		1,641
BNP	USD	23,798	SEK	255,200	07/18/24		(560	)
BNP	USD	155,545	INR	13,036,000	07/19/24		274
BNP	USD	152,612	COP	607,068,000	07/25/24		164
BNP	USD	308,994	INR	25,837,000	07/25/24		(234	)
BNP	NZD	260,000	USD	154,690	08/02/24		1,484
BNP	EUR	144,000	USD	155,187	08/05/24		880
BOA	MXN	2,691,000	USD	154,142	05/02/24		(2,944	)
BOA	THB	11,230,000	USD	315,954	05/15/24		12,648
BOA	USD	308,582	COP	1,231,860,000	05/15/24		4,804
BOA	USD	154,709	COP	614,964,000	05/22/24		1,582
BOA	USD	158,687	GBP	125,000	05/22/24		(2,478	)
BOA	USD	156,480	HUF	56,766,000	05/22/24		(1,876	)
BOA	CLP	303,524,000	USD	313,160	06/07/24		(2,864	)
BOA	USD	305,338	CHF	274,000	06/14/24		(5,856	)
BOA	NZD	260,000	USD	157,245	06/21/24		4,040
BOA	USD	315,348	CLP	305,786,000	07/05/24		2,994
BOA	CHF	284,000	USD	317,456	07/11/24		6,086
BOA	USD	33,109	EUR	30,700	07/18/24		(239	)
CITI	USD	154,370	CHF	135,000	05/02/24		(7,512	)
CITI	USD	156,150	MXN	2,691,000	05/02/24		936
CITI	ZAR	2,957,000	USD	153,323	05/02/24		(3,787	)
CITI	CLP	298,750,000	USD	305,912	05/08/24		(5,240	)
CITI	CLP	152,740,000	USD	158,185	05/15/24		(881	)
CITI	USD	155,354	BRL	779,000	05/15/24		(5,516	)
CITI	USD	318,730	CZK	7,366,000	05/15/24		(6,212	)
CITI	ZAR	2,959,000	USD	158,643	05/15/24		1,580
CITI	CLP	152,035,000	USD	158,719	05/22/24		399
CITI	CZK	3,716,000	USD	157,447	05/22/24		(216	)
CITI	USD	313,286	AUD	480,000	05/22/24		(2,154	)
CITI	USD	157,170	CLP	152,035,000	05/22/24		1,150
CITI	USD	158,123	SEK	1,636,000	05/22/24		(9,547	)
CITI	CHF	272,000	USD	311,994	05/31/24		15,170
CITI	CLP	153,411,000	USD	156,756	05/31/24		(2,981	)

PACE Alternative Strategies Investments 

Portfolio of investments – April 30, 2024 (unaudited) 

Counterparty	Sell		Purchase		Settlement date	Unrealized appreciation (depreciation)
CITI	MXN	2,647,000	USD	152,916	05/31/24	$	(914	)
CITI	USD	154,496	GBP	122,000	05/31/24		(2,028	)
CITI	USD	154,017	ZAR	2,978,000	05/31/24		3,851
CITI	ZAR	2,978,000	USD	156,435	05/31/24		(1,433	)
CITI	CZK	3,640,000	USD	155,632	06/07/24		1,180
CITI	USD	310,634	CLP	303,524,000	06/07/24		5,390
CITI	USD	154,991	CZK	3,640,000	06/07/24		(540	)
CITI	USD	154,757	GBP	123,000	06/07/24		(1,034	)
CITI	USD	152,702	NZD	256,000	06/07/24		(1,855	)
CITI	CZK	3,617,000	USD	156,549	06/14/24		3,063
CITI	USD	156,615	CLP	151,306,000	06/14/24		917
CITI	USD	155,443	ZAR	2,907,000	06/14/24		(1,513	)
CITI	AUD	241,000	USD	157,431	06/21/24		1,080
CITI	USD	311,440	CLP	298,490,000	06/21/24		(676	)
CITI	HUF	57,065,000	USD	153,893	06/28/24		(1,265	)
CITI	USD	156,219	CLP	152,931,000	06/28/24		2,996
CITI	USD	154,960	ZAR	2,957,000	06/28/24		1,441
CITI	NZD	263,000	USD	156,872	07/05/24		1,900
CITI	EUR	3,152,768	USD	3,395,729	07/18/24		20,108
CITI	SEK	2,713,315	USD	253,439	07/18/24		6,362
CITI	USD	88,348	EUR	82,100	07/18/24		(445	)
CITI	USD	308,367	HUF	114,453,000	07/25/24		2,476
GS	THB	5,538,000	USD	157,334	05/02/24		7,901
GS	USD	156,867	NOK	1,634,000	05/02/24		(9,772	)
GS	USD	156,538	PLN	631,000	05/02/24		(982	)
GS	USD	155,387	ZAR	2,957,000	05/02/24		1,723
GS	THB	5,573,000	USD	157,039	05/08/24		6,603
GS	USD	156,877	NZD	258,000	05/08/24		(4,851	)
GS	USD	156,132	PLN	632,000	05/08/24		(332	)
GS	CHF	138,000	USD	158,412	05/15/24		8,089
GS	USD	158,232	MXN	2,687,000	05/15/24		(1,678	)
GS	USD	157,761	NOK	1,651,000	05/15/24		(9,090	)
GS	USD	156,183	ZAR	2,959,000	05/15/24		880
GS	CHF	278,000	USD	318,304	05/22/24		15,240
GS	USD	156,868	MXN	2,681,000	05/22/24		(839	)
GS	USD	157,177	MXN	2,647,000	05/31/24		(3,347	)
GS	NZD	256,000	USD	155,653	06/07/24		4,806
GS	ZAR	2,966,000	USD	156,974	06/07/24		(170	)
GS	HUF	56,835,000	USD	158,272	06/14/24		3,649
GS	MXN	2,627,000	USD	153,987	06/14/24		1,659
GS	USD	159,596	MXN	2,627,000	06/14/24		(7,268	)
GS	HUF	57,430,000	USD	153,855	06/21/24		(2,341	)
GS	MXN	2,664,000	USD	155,156	06/21/24		855
GS	USD	308,882	CHF	280,000	06/21/24		(2,600	)
GS	MXN	2,606,000	USD	153,988	07/01/24		3,286
GS	USD	150,595	MXN	2,606,000	07/01/24		107
GS	NOK	1,674,000	USD	152,368	07/02/24		1,444
GS	USD	156,061	ZAR	2,956,000	07/05/24		199
GS	ZAR	2,956,000	USD	157,431	07/05/24		1,171

PACE Alternative Strategies Investments 

Portfolio of investments – April 30, 2024 (unaudited) 

Counterparty	Sell		Purchase		Settlement date	Unrealized appreciation (depreciation)
GS	MXN	2,554,000	USD	154,486	07/11/24	$	7,024
GS	USD	156,168	HUF	56,137,000	07/11/24		(3,617	)
GS	CHF	363,000	USD	401,768	07/18/24		3,462
GS	USD	155,229	HUF	58,010,000	07/18/24		2,366
GS	MXN	2,650,000	USD	152,548	07/25/24		(120	)
GS	PLN	629,000	USD	154,471	07/25/24		(448	)
GS	USD	154,908	NOK	1,701,000	07/25/24		(1,464	)
GS	USD	153,378	ZAR	2,887,000	08/05/24		(1,140	)
GSI	CLP	291,282,000	USD	295,494	05/02/24		(7,910	)
GSI	COP	615,384,000	USD	154,362	05/02/24		(2,503	)
GSI	INR	26,028,000	USD	313,186	05/02/24		1,236
GSI	KRW	208,181,000	USD	150,998	05/02/24		371
GSI	TWD	4,878,000	USD	149,595	05/02/24		(211	)
GSI	USD	155,970	INR	13,014,000	05/02/24		5
GSI	USD	157,367	KRW	208,181,000	05/02/24		(6,740	)
GSI	USD	154,931	TWD	4,878,000	05/02/24		(5,124	)
GSI	BRL	778,000	USD	156,062	05/08/24		6,325
GSI	COP	619,778,000	USD	155,453	05/08/24		(2,389	)
GSI	USD	154,453	COP	619,778,000	05/08/24		3,389
GSI	INR	13,041,000	USD	157,261	05/15/24		1,022
GSI	USD	156,900	IDR	2,460,040,000	05/16/24		(5,646	)
GSI	COP	614,964,000	USD	155,566	05/22/24		(726	)
GSI	IDR	2,464,924,000	USD	156,404	05/22/24		4,872
GSI	INR	13,048,000	USD	156,880	05/22/24		595
GSI	USD	156,665	INR	13,048,000	05/22/24		(380	)
GSI	COP	614,275,000	USD	156,996	05/31/24		1,079
GSI	USD	155,544	CLP	153,411,000	05/31/24		4,193
GSI	USD	153,339	COP	614,275,000	05/31/24		2,578
GSI	USD	154,601	INR	12,862,000	05/31/24		(592	)
GSI	USD	153,037	COP	613,024,000	06/07/24		2,401
GSI	PHP	8,657,000	USD	153,330	06/13/24		3,618
GSI	INR	25,908,000	USD	310,760	06/14/24		692
GSI	USD	312,107	INR	25,908,000	06/14/24		(2,038	)
GSI	BRL	791,000	USD	150,267	06/21/24		(1,353	)
GSI	USD	154,316	COP	612,945,000	06/21/24		761
GSI	USD	156,758	IDR	2,472,075,000	06/21/24		(4,911	)
GSI	USD	156,904	INR	13,063,000	06/21/24		(603	)
GSI	PHP	8,793,000	USD	152,571	06/28/24		557
GSI	USD	154,863	MYR	738,000	06/28/24		325
GSI	USD	309,406	COP	1,216,256,000	07/02/24		(2,216	)
GSI	BRL	795,000	USD	153,585	07/05/24		1,435
GSI	INR	13,087,000	USD	156,500	07/05/24		(10	)
GSI	PHP	8,839,000	USD	153,120	07/05/24		332
GSI	USD	156,906	PHP	8,863,000	07/11/24		(3,718	)
GSI	USD	313,264	INR	26,144,000	07/12/24		(682	)
GSI	USD	153,306	BRL	809,000	07/18/24		1,339
GSI	USD	154,641	PHP	8,916,000	07/24/24		(571	)
GSI	USD	154,394	PHP	8,917,000	08/02/24		(328	)
GSI	USD	152,225	BRL	790,000	08/05/24		(1,460	)

PACE Alternative Strategies Investments 

Portfolio of investments – April 30, 2024 (unaudited) 

Counterparty	Sell		Purchase		Settlement date	Unrealized appreciation (depreciation)
GSI	USD	307,836	INR	25,773,000	08/05/24	$	34
HSBC	USD	157,233	GBP	124,000	05/01/24		(2,289	)
HSBC	BRL	775,000	USD	154,997	05/02/24		5,746
HSBC	INR	26,028,000	USD	311,940	05/02/24		(12	)
HSBC	TWD	4,878,000	USD	158,391	05/02/24		8,584
HSBC	USD	311,912	INR	26,028,000	05/02/24		38
HSBC	USD	156,696	PHP	8,782,000	05/07/24		(4,690	)
HSBC	EUR	146,000	USD	157,242	05/08/24		1,401
HSBC	NOK	1,670,000	USD	158,434	05/08/24		8,079
HSBC	USD	155,656	INR	12,977,000	05/08/24		(147	)
HSBC	USD	156,044	MXN	2,673,000	05/08/24		(132	)
HSBC	USD	156,007	THB	5,573,000	05/08/24		(5,570	)
HSBC	USD	154,854	ZAR	2,962,000	05/08/24		2,457
HSBC	USD	310,958	IDR	4,915,614,000	05/13/24		(8,700	)
HSBC	CZK	7,366,000	USD	314,168	05/15/24		1,650
HSBC	NOK	1,651,000	USD	158,132	05/15/24		9,461
HSBC	SEK	1,641,000	USD	157,989	05/15/24		9,006
HSBC	USD	316,732	THB	11,230,000	05/15/24		(13,426	)
HSBC	HUF	56,766,000	USD	154,922	05/22/24		317
HSBC	USD	315,058	CHF	278,000	05/22/24		(11,994	)
HSBC	ZAR	2,998,000	USD	156,954	05/22/24		(2,090	)
HSBC	THB	5,685,000	USD	158,226	05/23/24		4,586
HSBC	USD	158,013	THB	5,685,000	05/23/24		(4,374	)
HSBC	GBP	122,000	USD	154,724	05/31/24		2,256
HSBC	IDR	2,426,770,000	USD	153,459	05/31/24		4,308
HSBC	INR	12,862,000	USD	154,160	05/31/24		151
HSBC	USD	307,638	THB	11,111,000	05/31/24		(7,170	)
HSBC	MXN	2,641,000	USD	153,470	06/07/24		159
HSBC	THB	11,145,000	USD	312,542	06/07/24		10,989
HSBC	USD	157,765	MXN	2,641,000	06/07/24		(4,454	)
HSBC	USD	156,168	NOK	1,645,000	06/07/24		(7,950	)
HSBC	USD	304,533	THB	11,145,000	06/07/24		(2,980	)
HSBC	IDR	2,439,783,000	USD	157,126	06/14/24		7,232
HSBC	THB	11,134,000	USD	314,582	06/14/24		13,160
HSBC	USD	156,900	NOK	1,637,000	06/14/24		(9,378	)
HSBC	USD	307,422	THB	11,134,000	06/14/24		(5,998	)
HSBC	PHP	8,797,000	USD	154,071	06/20/24		1,961
HSBC	USD	157,237	PHP	8,797,000	06/20/24		(5,128	)
HSBC	CHF	280,000	USD	318,324	06/21/24		12,042
HSBC	THB	11,352,000	USD	316,042	06/21/24		8,546
HSBC	USD	156,514	HUF	57,430,000	06/21/24		(318	)
HSBC	USD	156,893	MXN	2,664,000	06/21/24		(2,592	)
HSBC	USD	153,042	NZD	260,000	06/21/24		162
HSBC	USD	310,748	THB	11,352,000	06/21/24		(3,254	)
HSBC	USD	156,094	ZAR	2,990,000	06/24/24		2,103
HSBC	BRL	777,000	USD	149,116	06/28/24		298
HSBC	THB	11,340,000	USD	314,502	06/28/24		7,162
HSBC	USD	153,993	EUR	144,000	06/28/24		45
HSBC	USD	155,936	IDR	2,467,832,000	06/28/24		(4,380	)

PACE Alternative Strategies Investments 

Portfolio of investments – April 30, 2024 (unaudited) 

Counterparty	Sell		Purchase		Settlement date	Unrealized appreciation (depreciation)
HSBC	USD	155,882	INR	13,018,000	06/28/24	$	(158	)
HSBC	USD	306,992	THB	11,340,000	06/28/24		348
HSBC	HUF	57,437,000	USD	157,276	07/05/24		1,152
HSBC	MXN	2,601,000	USD	154,688	07/05/24		4,370
HSBC	THB	11,515,000	USD	315,131	07/05/24		2,874
HSBC	USD	151,629	MXN	2,601,000	07/05/24		(1,311	)
HSBC	USD	156,239	SGD	212,000	07/05/24		(474	)
HSBC	USD	311,755	THB	11,515,000	07/05/24		502
HSBC	THB	11,415,000	USD	315,680	07/11/24		5,985
HSBC	SGD	211,000	USD	157,449	07/12/24		2,369
HSBC	USD	155,563	PHP	8,887,000	07/17/24		(1,975	)
HSBC	CHF	3,883,119	JPY	648,795,239	07/18/24		(98,838	)
HSBC	CHF	16,400	USD	18,143	07/18/24		148
HSBC	MXN	2,627,000	USD	154,048	07/18/24		2,539
HSBC	NOK	189,300	USD	17,509	07/18/24		436
HSBC	NZD	265,000	USD	155,987	07/18/24		(164	)
HSBC	THB	11,434,000	USD	313,426	07/18/24		3,042
HSBC	USD	1,991	CHF	1,800	07/18/24		(16	)
HSBC	EUR	145,000	USD	155,256	07/25/24		(44	)
HSBC	THB	5,741,000	USD	155,654	07/25/24		(277	)
HSBC	USD	153,336	BRL	801,000	07/25/24		(319	)
HSBC	MXN	2,625,000	USD	152,270	08/05/24		1,304
HSBC	SGD	420,000	USD	309,982	08/05/24		948
HSBC	THB	11,447,000	USD	310,476	08/05/24		(710	)
HSBC	USD	153,877	HUF	56,264,000	08/05/24		(1,140	)
JPMCB	USD	155,029	THB	5,538,000	05/02/24		(5,595	)
JPMCB	GBP	90,239	USD	114,867	05/31/24		2,093
JPMCB	THB	11,111,000	USD	311,556	05/31/24		11,089
JPMCB	USD	208,469	GBP	167,510	05/31/24		874
JPMCB	USD	423,107	GBP	335,331	05/31/24		(4,032	)
JPMCB	SEK	1,596,000	USD	151,846	06/14/24		6,749
JPMCB	USD	154,968	CZK	3,617,000	06/14/24		(1,481	)
JPMCB	USD	153,824	CZK	3,661,000	06/21/24		1,541
JPMCB	CZK	3,636,000	USD	156,298	06/28/24		1,984
JPMCB	USD	156,490	NOK	1,674,000	07/02/24		(5,565	)
JPMCB	SGD	211,000	USD	155,461	07/25/24		287
JPMCB	USD	154,473	GBP	123,000	08/02/24		(699	)
JPMCB	AUD	42,917	USD	27,607	08/30/24		(287	)
MSCI	GBP	124,000	USD	157,305	05/01/24		2,361
MSCI	NZD	512,000	USD	313,710	05/01/24		12,014
MSCI	USD	155,518	AUD	237,000	05/01/24		(1,989	)
MSCI	USD	315,492	NZD	512,000	05/01/24		(13,796	)
MSCI	CHF	135,000	USD	157,974	05/02/24		11,115
MSCI	CZK	3,589,000	USD	156,390	05/02/24		4,115
MSCI	EUR	144,000	USD	156,744	05/02/24		3,067
MSCI	IDR	2,470,931,000	USD	152,067	05/02/24		103
MSCI	KRW	208,181,000	USD	156,871	05/02/24		6,244
MSCI	SEK	1,629,000	USD	157,086	05/02/24		9,269
MSCI	USD	310,652	CLP	291,282,000	05/02/24		(7,248	)

PACE Alternative Strategies Investments 

Portfolio of investments – April 30, 2024 (unaudited) 

Counterparty	Sell		Purchase		Settlement date	Unrealized appreciation (depreciation)
MSCI	USD	312,498	IDR	4,941,862,000	05/02/24	$	(8,570	)
MSCI	USD	150,998	KRW	208,181,000	05/02/24		(371	)
MSCI	USD	158,629	SEK	1,629,000	05/02/24		(10,812	)
MSCI	GBP	125,000	USD	156,826	05/08/24		628
MSCI	MXN	2,673,000	USD	154,010	05/08/24		(1,902	)
MSCI	NZD	258,000	USD	156,108	05/08/24		4,082
MSCI	PLN	632,000	USD	158,435	05/08/24		2,636
MSCI	SEK	1,657,000	USD	156,686	05/08/24		6,297
MSCI	USD	154,928	BRL	778,000	05/08/24		(5,191	)
MSCI	USD	154,531	CHF	136,000	05/08/24		(6,502	)
MSCI	USD	158,600	GBP	125,000	05/08/24		(2,402	)
MSCI	USD	159,934	SEK	1,657,000	05/08/24		(9,545	)
MSCI	ZAR	2,962,000	USD	155,058	05/08/24		(2,253	)
MSCI	BRL	779,000	USD	155,984	05/15/24		6,147
MSCI	CNY	298,037	USD	41,762	05/15/24		572
MSCI	MXN	2,687,000	USD	154,964	05/15/24		(1,589	)
MSCI	NZD	257,000	USD	157,121	05/15/24		5,684
MSCI	USD	159,814	AUD	241,000	05/15/24		(3,633	)
MSCI	USD	158,529	CHF	138,000	05/15/24		(8,205	)
MSCI	USD	161,403	SEK	1,641,000	05/15/24		(12,420	)
MSCI	KRW	52,572,246	USD	39,095	05/20/24		1,024
MSCI	USD	88,646	KRW	118,459,450	05/20/24		(2,861	)
MSCI	AUD	480,000	USD	315,312	05/22/24		4,180
MSCI	EUR	146,000	USD	158,200	05/22/24		2,272
MSCI	GBP	125,000	USD	157,629	05/22/24		1,419
MSCI	MXN	2,681,000	USD	155,158	05/22/24		(872	)
MSCI	SEK	1,636,000	USD	156,671	05/22/24		8,095
MSCI	USD	158,750	EUR	146,000	05/22/24		(2,822	)
MSCI	USD	156,988	IDR	2,464,924,000	05/22/24		(5,456	)
MSCI	USD	156,252	ZAR	2,998,000	05/22/24		2,791
MSCI	CAD	209,000	USD	155,057	05/28/24		3,177
MSCI	AUD	474,000	USD	311,312	05/31/24		3,984
MSCI	MYR	739,000	USD	156,835	05/31/24		1,714
MSCI	NZD	252,000	USD	155,262	05/31/24		6,772
MSCI	USD	311,428	AUD	474,000	05/31/24		(4,102	)
MSCI	USD	304,042	CHF	272,000	05/31/24		(7,220	)
MSCI	USD	154,158	HUF	55,616,000	05/31/24		(2,758	)
MSCI	USD	155,597	SEK	1,596,000	05/31/24		(10,594	)
MSCI	CHF	138,000	USD	157,308	06/07/24		6,594
MSCI	GBP	123,000	USD	156,086	06/07/24		2,363
MSCI	MYR	736,000	USD	156,015	06/07/24		1,456
MSCI	USD	156,466	AUD	240,000	06/07/24		(825	)
MSCI	USD	156,167	SEK	1,616,000	06/07/24		(9,300	)
MSCI	USD	154,871	ZAR	2,966,000	06/07/24		2,272
MSCI	AUD	237,000	USD	157,294	06/14/24		3,568
MSCI	CHF	274,000	USD	315,762	06/14/24		16,282
MSCI	KRW	205,144,000	USD	151,975	06/14/24		3,222
MSCI	USD	157,242	AUD	237,000	06/14/24		(3,517	)
MSCI	USD	153,344	IDR	2,439,783,000	06/14/24		(3,451	)

PACE Alternative Strategies Investments 

Portfolio of investments – April 30, 2024 (unaudited) 

Counterparty	Sell		Purchase		Settlement date	Unrealized appreciation (depreciation)
MSCI	USD	157,407	KRW	205,144,000	06/14/24	$	(8,655	)
MSCI	USD	154,766	MYR	732,000	06/14/24		(978	)
MSCI	USD	157,178	SEK	1,596,000	06/14/24		(12,082	)
MSCI	ZAR	2,907,000	USD	156,532	06/14/24		2,601
MSCI	EUR	145,000	USD	157,859	06/21/24		2,800
MSCI	IDR	2,472,075,000	USD	152,058	06/21/24		210
MSCI	NOK	1,683,000	USD	153,419	06/21/24		1,725
MSCI	USD	154,912	AUD	241,000	06/21/24		1,439
MSCI	USD	155,626	BRL	791,000	06/21/24		(4,006	)
MSCI	USD	155,781	MYR	745,000	06/21/24		808
MSCI	USD	157,849	NOK	1,683,000	06/21/24		(6,154	)
MSCI	SEK	1,647,000	USD	150,979	06/24/24		1,176
MSCI	USD	157,945	SEK	1,647,000	06/24/24		(8,142	)
MSCI	ZAR	2,990,000	USD	156,232	06/24/24		(1,966	)
MSCI	USD	152,916	NZD	259,000	06/27/24		(301	)
MSCI	AUD	238,000	USD	156,487	06/28/24		2,051
MSCI	CHF	282,000	USD	316,192	06/28/24		7,476
MSCI	IDR	2,467,832,000	USD	151,798	06/28/24		242
MSCI	MYR	738,000	USD	156,939	06/28/24		1,751
MSCI	USD	153,642	AUD	238,000	06/28/24		794
MSCI	USD	154,775	BRL	777,000	06/28/24		(5,957	)
MSCI	USD	311,556	CHF	282,000	06/28/24		(2,840	)
MSCI	ZAR	2,957,000	USD	152,888	06/28/24		(3,513	)
MSCI	AUD	241,000	USD	157,234	07/05/24		820
MSCI	NOK	1,701,000	USD	154,695	07/05/24		1,325
MSCI	SGD	212,000	USD	157,432	07/05/24		1,668
MSCI	USD	157,755	AUD	241,000	07/05/24		(1,341	)
MSCI	USD	315,124	CHF	285,000	07/05/24		(2,874	)
MSCI	AUD	237,000	USD	157,355	07/11/24		3,512
MSCI	USD	155,745	ZAR	2,899,000	07/11/24		(2,571	)
MSCI	MYR	745,000	USD	157,761	07/15/24		931
MSCI	AUD	243,000	USD	156,321	07/18/24		(1,447	)
MSCI	CHF	16,000	USD	17,789	07/18/24		233
MSCI	DKK	628,800	USD	90,860	07/18/24		516
MSCI	GBP	1,107,547	USD	1,389,456	07/18/24		4,935
MSCI	JPY	666,642,169	CHF	3,883,119	07/18/24		(15,648	)
MSCI	SEK	661,700	USD	61,177	07/18/24		922
MSCI	SGD	213,000	USD	156,798	07/18/24		204
MSCI	USD	2,779	CHF	2,500	07/18/24		(36	)
MSCI	USD	2,674	DKK	18,600	07/18/24		(2	)
MSCI	USD	29,046	EUR	27,100	07/18/24		(30	)
MSCI	USD	4,021	GBP	3,200	07/18/24		(21	)
MSCI	USD	173,675	NOK	1,904,300	07/18/24		(1,919	)
MSCI	USD	154,811	ZAR	2,969,000	07/18/24		1,975
MSCI	CHF	282,000	USD	312,538	07/25/24		2,862
MSCI	KRW	213,684,000	USD	155,740	07/25/24		442
MSCI	USD	153,539	ZAR	2,976,000	07/25/24		3,529
MSCI	AUD	240,000	USD	155,059	07/26/24		(796	)
MSCI	NZD	262,000	USD	154,689	07/26/24		305

PACE Alternative Strategies Investments 

Portfolio of investments – April 30, 2024 (unaudited) 

Counterparty	Sell		Purchase		Settlement date	Unrealized appreciation (depreciation)
MSCI	CHF	282,000	USD	312,928	08/05/24	$	2,856
MSCI	TWD	5,031,000	USD	155,044	08/05/24		(1,135	)
MSCI	USD	154,900	NOK	1,702,000	08/05/24		(1,325	)
MSCI	PLN	622,000	USD	154,274	08/06/24		1,100
SG	AUD	237,000	USD	156,757	05/01/24		3,229
SG	USD	156,403	NOK	1,670,000	05/08/24		(6,048	)
SG	AUD	241,000	USD	157,671	05/15/24		1,490
SG	EUR	146,000	USD	157,994	05/15/24		2,109
SG	IDR	2,460,040,000	USD	158,518	05/16/24		7,263
SG	IDR	2,453,557,000	USD	153,520	06/07/24		2,751
SG	USD	155,249	BRL	795,000	07/05/24		(3,099	)
Net unrealized appreciation (depreciation)						$	(33,874	)

Fair valuation summary

The following is a summary of the fair valuations according to the inputs used as of April 30, 2024 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	$	110,281,010		$	26,290,777		$	—	$	136,571,787
Preferred stocks		—			597,669			—		597,669
Exchange traded funds		4,634,894			—			—		4,634,894
Investment companies		37,160,721			—			—		37,160,721
Warrant		—			—			—		—
Corporate bonds		—			35,127,748			—		35,127,748
Short-term investments		—			107,495,722			—		107,495,722
Equity and foreign exchange options purchased		1,128,577			—			—		1,128,577
Futures contracts		158,603			8,879			—		167,482
Swap agreements		—			1,703,296			—		1,703,296
Forward foreign currency contracts		—			765,126			—		765,126
Total	$	153,363,805		$	171,989,217		$	—	$	325,353,022
Liabilities
Investments sold short
Common stocks	$	(67,738,089	)	$	(9,399,847	)	$	—	$	(77,137,936	)
Preferred stocks		—			(66,586	)		—		(66,586	)
Exchange traded funds		(15,687,322	)		—			—		(15,687,322	)
Corporate bonds		—			(90,903	)		—		(90,903	)
Equity options written		(560,551	)		—			—		(560,551	)
Futures contracts		(119,811	)		(134,774	)		—		(254,585	)
Swap agreements		—			(2,205,930	)		—		(2,205,930	)
Forward foreign currency contracts		—			(799,000	)		—		(799,000	)
Total	$	(84,105,773	)	$	(12,697,040	)	$	—	$	(96,802,813	)

PACE Alternative Strategies Investments 

Portfolio of investments – April 30, 2024 (unaudited) 

At April 30, 2024, 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, 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 $2,828,461, represented 0.8% of the Portfolios net assets at period end.

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

4 In U.S. dollars unless otherwise indicated.

5 Bond interest in default.

6 Rates shown reflect yield at April 30, 2024.

7 Payments made or received are based on the notional amount.

PACE Select Advisors Trust

Glossary of terms used in the Portfolio of investments
April 30, 2024

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 semi-annual report to shareholders dated January 31, 2024.