2026-05-14216751_PacerActiveAlphaIndiaQualityETF_TF_TSRSemiAnnual

 

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Pacer ActiveAlpha India Quality ETF
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INDQ (Principal U.S. Listing Exchange: Nasdaq)
Semi-Annual Shareholder Report | April 30, 2026
This semi-annual shareholder report contains important information about the Pacer ActiveAlpha India Quality ETF for the period of March 31, 2026, to April 30, 2026. You can find additional information about the Fund at https://www.paceretfs.com/. You can also request this information by contacting us at 877-337-0500.
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS? (based on a hypothetical $10,000 investment)
Fund Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment*,**
Pacer ActiveAlpha India Quality ETF
$7
0.85%
* Amount shown reflects the expenses of the Fund from March 31, 2026 (inception date) through April 30, 2026. Expenses would be higher if the Fund had been in operations for a full year.
** Annualized
KEY FUND STATISTICS (as of April 30, 2026)
Net Assets
$1,056,271
Portfolio Turnover
0%
Number of Holdings
29
30-Day SEC Yield
0.00%
Net Advisory Fee
$735
30-Day SEC Yield Unsubsidized
0.00%
WHAT DID THE FUND INVEST IN? (as of April 30, 2026)*
Top 10 Issuers
(%)
Titan Co. Ltd.
5.0%
Dr Reddy’s Laboratories Ltd.
4.9%
Eicher Motors Ltd.
4.9%
Hero MotoCorp Ltd.
4.6%
National Aluminium Co. Ltd.
4.6%
Indus Towers Ltd.
4.5%
Astral Ltd.
4.5%
Zen Technologies Ltd.
3.5%
Nestle India Ltd.
3.5%
Bank of Maharashtra
3.4%
Top Sectors
(%)
Consumer Discretionary
20.6%
Industrials
16.8%
Health Care
16.1%
Materials
13.6%
Financials
13.1%
Consumer Staples
12.3%
Communication Services
4.5%
Energy
3.0%
Cash & Other
0.0%
* Percentages are stated as a percent of net assets.
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit https://www.paceretfs.com/.
HOUSEHOLDING
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Pacer Advisors, Inc. documents not be householded, please contact Pacer Advisors, Inc. at 877-337-0500, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Pacer Advisors, Inc. or your financial intermediary.
Pacer ActiveAlpha India Quality ETF  PAGE 1  TSR-SAR-69374H196
 
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Pacer American Energy Infrastructure ETF
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USAI (Principal U.S. Listing Exchange: NYSE)
Semi-Annual Shareholder Report | April 30, 2026
This semi-annual shareholder report contains important information about the Pacer American Energy Infrastructure ETF for the period of November 1, 2025, to April 30, 2026. You can find additional information about the Fund at https://www.paceretfs.com/. You can also request this information by contacting us at 877-337-0500.
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS? (based on a hypothetical $10,000 investment)
Fund Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment*
Pacer American Energy Infrastructure ETF
$43
0.75%
* Annualized
KEY FUND STATISTICS (as of April 30, 2026)
Net Assets
$109,057,249
Portfolio Turnover
31%
Number of Holdings
35
30-Day SEC Yield
2.86%
Net Advisory Fee
$336,190
30-Day SEC Yield Unsubsidized
2.86%
WHAT DID THE FUND INVEST IN? (as of April 30, 2026)*
Top 10 Issuers
(%)
Mount Vernon Liquid Assets Portfolio, LLC
13.4%
Energy Transfer LP
7.6%
Williams Cos., Inc.
7.4%
Enbridge, Inc.
7.3%
Enterprise Products Partners LP
7.3%
TC Energy Corp.
7.2%
Cheniere Energy, Inc.
6.9%
Targa Resources Corp.
4.6%
ONEOK, Inc.
4.3%
Kinder Morgan, Inc.
4.1%
Top Sectors
(%)
Energy
99.8%
Cash & Other
0.2%
* Percentages are stated as a percent of net assets.
Effective 2/28/2026, the Fund changed its name from Pacer American Energy Independence ETF to Pacer American Energy Infrastructure ETF. Changes were made to the Fund’s investment objectives, principal investment strategies, and principal risks as a result of this name change and are outlined in the Fund’s Prospectus and SAI.
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit https://www.paceretfs.com/.
Pacer American Energy Infrastructure ETF  PAGE 1  TSR-SAR-69374H634
 
HOUSEHOLDING
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Pacer Advisors, Inc. documents not be householded, please contact Pacer Advisors, Inc. at 877-337-0500, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Pacer Advisors, Inc. or your financial intermediary.
Pacer American Energy Infrastructure ETF  PAGE 2  TSR-SAR-69374H634
 
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Pacer BlueStar Digital Entertainment ETF
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ODDS (Principal U.S. Listing Exchange: Nasdaq)
Semi-Annual Shareholder Report | April 30, 2026
This semi-annual shareholder report contains important information about the Pacer BlueStar Digital Entertainment ETF for the period of November 1, 2025, to April 30, 2026. You can find additional information about the Fund at https://www.paceretfs.com/. You can also request this information by contacting us at 877-337-0500.
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS? (based on a hypothetical $10,000 investment)
Fund Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment*
Pacer BlueStar Digital Entertainment ETF
$22
0.49%
* Annualized
KEY FUND STATISTICS (as of April 30, 2026)
Net Assets
$3,929,578
Portfolio Turnover
16%
Number of Holdings
43
30-Day SEC Yield
0.55%
Net Advisory Fee
$10,399
30-Day SEC Yield Unsubsidized
0.55%
WHAT DID THE FUND INVEST IN? (as of April 30, 2026)*
Top 10 Issuers
(%)
Evolution AB
9.0%
Flutter Entertainment PLC
7.9%
DraftKings, Inc.
7.3%
Tencent Holdings Ltd.
6.8%
Entain PLC
4.1%
Nintendo Co. Ltd.
3.9%
NetEase, Inc.
3.8%
Super Group SGHC Ltd.
3.6%
Rush Street Interactive, Inc.
3.6%
Electronic Arts, Inc.
3.2%
Top Sectors
(%)
Consumer Discretionary
54.7%
Communication Services
42.2%
Information Technology
2.9%
Cash & Other
0.2%
* Percentages are stated as a percent of net assets.
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit https://www.paceretfs.com/.
HOUSEHOLDING
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Pacer Advisors, Inc. documents not be householded, please contact Pacer Advisors, Inc. at 877-337-0500, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Pacer Advisors, Inc. or your financial intermediary.
Pacer BlueStar Digital Entertainment ETF  PAGE 1  TSR-SAR-69374H394
 
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Pacer BlueStar Engineering the Future ETF
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BULD (Principal U.S. Listing Exchange: Nasdaq)
Semi-Annual Shareholder Report | April 30, 2026
This semi-annual shareholder report contains important information about the Pacer BlueStar Engineering the Future ETF for the period of November 1, 2025, to April 30, 2026. You can find additional information about the Fund at https://www.paceretfs.com/. You can also request this information by contacting us at 877-337-0500.
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS? (based on a hypothetical $10,000 investment)
Fund Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment*
Pacer BlueStar Engineering the Future ETF
$26
0.49%
* Annualized
KEY FUND STATISTICS (as of April 30, 2026)
Net Assets
$4,885,007
Portfolio Turnover
13%
Number of Holdings
56
30-Day SEC Yield
0.13%
Net Advisory Fee
$6,982
30-Day SEC Yield Unsubsidized
0.13%
WHAT DID THE FUND INVEST IN? (as of April 30, 2026)*
Top 10 Issuers
(%)
ASML Holding NV
8.9%
Proto Labs, Inc.
8.6%
Lam Research Corp.
8.4%
Applied Materials, Inc.
8.3%
Stratasys Ltd.
5.8%
KLA Corp.
5.5%
Autodesk, Inc.
5.5%
Mount Vernon Liquid Assets Portfolio, LLC
5.5%
3D Systems Corp.
4.8%
Nano Dimension Ltd.
3.8%
Top Sectors
(%)
Information Technology
67.2%
Industrials
30.9%
Consumer Discretionary
0.8%
Health Care
0.7%
Energy
0.2%
Cash & Other
0.2%
* Percentages are stated as a percent of net assets.
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit https://www.paceretfs.com/.
HOUSEHOLDING
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Pacer Advisors, Inc. documents not be householded, please contact Pacer Advisors, Inc. at 877-337-0500, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Pacer Advisors, Inc. or your financial intermediary.
Pacer BlueStar Engineering the Future ETF  PAGE 1  TSR-SAR-69374H410
 
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Pacer Cash COWZ 100-Nasdaq 100 Rotator ETF
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QQWZ (Principal U.S. Listing Exchange: Nasdaq)
Semi-Annual Shareholder Report | April 30, 2026
This semi-annual shareholder report contains important information about the Pacer Cash COWZ 100-Nasdaq 100 Rotator ETF for the period of November 1, 2025, to April 30, 2026. You can find additional information about the Fund at https://www.paceretfs.com/. You can also request this information by contacting us at 877-337-0500.
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS? (based on a hypothetical $10,000 investment)
Fund Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment*
Pacer Cash COWZ 100-Nasdaq 100 Rotator ETF
$25
0.49%
* Annualized
KEY FUND STATISTICS (as of April 30, 2026)
Net Assets
$30,718,226
Number of Holdings
101
Net Advisory Fee
$50,880
Portfolio Turnover
225%
30-Day SEC Yield
1.67%
30-Day SEC Yield Unsubsidized
1.67%
WHAT DID THE FUND INVEST IN? (as of April 30, 2026)*
Top Sectors
(%)
Information Technology
53.3%
Communication Services
14.9%
Consumer Discretionary
12.1%
Consumer Staples
7.6%
Health Care
4.2%
Industrials
3.6%
Utilities
1.4%
Materials
1.1%
Energy
0.6%
Cash & Other
1.2%
Top 10 Issuers
(%)
NVIDIA Corp.
8.5%
Alphabet, Inc.
7.5%
Apple, Inc.
7.0%
Microsoft Corp.
5.3%
Amazon.com, Inc.
5.0%
Broadcom, Inc.
3.4%
Tesla Motors, Inc.
3.3%
Meta Platforms, Inc.
3.1%
Walmart, Inc.
3.1%
Micron Technology, Inc.
2.8%
* Percentages are stated as a percent of net assets.
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit https://www.paceretfs.com/.
Pacer Cash COWZ 100-Nasdaq 100 Rotator ETF  PAGE 1  TSR-SAR-69374H246
 
HOUSEHOLDING
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Pacer Advisors, Inc. documents not be householded, please contact Pacer Advisors, Inc. at 877-337-0500, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Pacer Advisors, Inc. or your financial intermediary.
Pacer Cash COWZ 100-Nasdaq 100 Rotator ETF  PAGE 2  TSR-SAR-69374H246
 
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Pacer Developed Markets Cash Cows Growth Leaders ETF
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EAFG (Principal U.S. Listing Exchange: NYSE)
Semi-Annual Shareholder Report | April 30, 2026
This semi-annual shareholder report contains important information about the Pacer Developed Markets Cash Cows Growth Leaders ETF for the period of November 1, 2025, to April 30, 2026. You can find additional information about the Fund at https://www.paceretfs.com/. You can also request this information by contacting us at 877-337-0500.
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS? (based on a hypothetical $10,000 investment)
Fund Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment*
Pacer Developed Markets Cash Cows Growth Leaders ETF
$34
0.65%
* Annualized
KEY FUND STATISTICS (as of April 30, 2026)
Net Assets
$2,549,807
Portfolio Turnover
33%
Number of Holdings
101
30-Day SEC Yield
1.28%
Net Advisory Fee
$9,523
30-Day SEC Yield Unsubsidized
1.28%
WHAT DID THE FUND INVEST IN? (as of April 30, 2026)*
Top 10 Issuers
(%)
JX Advanced Metals Corp.
4.9%
Lasertec Corp.
3.3%
VAT Group AG
3.3%
Advantest Corp.
3.2%
Fresnillo PLC
3.1%
BE Semiconductor Industries NV
2.9%
Tokyo Electron Ltd.
2.7%
ASML Holding NV
2.6%
ASM International NV
2.5%
Evolution Mining Ltd.
2.2%
Top Sectors
(%)
Information Technology
25.0%
Industrials
17.4%
Materials
15.0%
Health Care
14.5%
Communication Services
10.0%
Consumer Discretionary
8.6%
Consumer Staples
3.6%
Energy
3.2%
Utilities
2.0%
Cash & Other
0.7%
Top Ten Countries
(%)
Japan
29.1%
United Kingdom
11.6%
Switzerland
11.1%
Netherlands
10.4%
Australia
7.8%
Sweden
3.4%
Mexico
3.1%
Italy
2.8%
France
2.6%
Cash & Other
18.1%
* Percentages are stated as a percent of net assets.
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit https://www.paceretfs.com/.
HOUSEHOLDING
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Pacer Advisors, Inc. documents not be householded, please contact Pacer Advisors, Inc. at 877-337-0500, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Pacer Advisors, Inc. or your financial intermediary.
Pacer Developed Markets Cash Cows Growth Leaders ETF  PAGE 1  TSR-SAR-69374H345
 
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Pacer Metaurus Nasdaq 100 Dividend Multiplier 600 ETF
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QSIX (Principal U.S. Listing Exchange: Nasdaq)
Semi-Annual Shareholder Report | April 30, 2026
This semi-annual shareholder report contains important information about the Pacer Metaurus Nasdaq 100 Dividend Multiplier 600 ETF for the period of November 1, 2025, to April 30, 2026. You can find additional information about the Fund at https://www.paceretfs.com/. You can also request this information by contacting us at 877-337-0500.
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS? (based on a hypothetical $10,000 investment)
Fund Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment*
Pacer Metaurus Nasdaq 100 Dividend Multiplier 600 ETF
$31
0.60%
* Annualized
KEY FUND STATISTICS (as of April 30, 2026)
Net Assets
$17,968,415
Portfolio Turnover
8%
Number of Holdings
105
30-Day SEC Yield
0.16%
Net Advisory Fee
$44,396
30-Day SEC Yield Unsubsidized
0.16%
WHAT DID THE FUND INVEST IN? (as of April 30, 2026)*
Top 10 Issuers
(%)
NVIDIA Corp.
7.8%
Alphabet, Inc.
6.9%
Apple, Inc.
6.4%
Microsoft Corp.
4.9%
Amazon.com, Inc.
4.6%
Broadcom, Inc.
3.2%
Tesla Motors, Inc.
3.1%
Meta Platforms, Inc.
2.9%
Walmart, Inc.
2.9%
Micron Technology, Inc.
2.6%
Top Sectors
(%)
Information Technology
49.0%
Communication Services
13.8%
Consumer Discretionary
11.2%
Consumer Staples
7.0%
Health Care
3.8%
Industrials
3.3%
Utilities
1.3%
Materials
1.0%
Energy
0.6%
Cash & Other
9.0%
* Percentages are stated as a percent of net assets.
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit https://www.paceretfs.com/.
HOUSEHOLDING
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Pacer Advisors, Inc. documents not be householded, please contact Pacer Advisors, Inc. at 877-337-0500, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Pacer Advisors, Inc. or your financial intermediary.
Pacer Metaurus Nasdaq 100 Dividend Multiplier 600 ETF  PAGE 1  TSR-SAR-69374H287
 
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Pacer Metaurus US Large Cap Dividend Multiplier 400 ETF
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QDPL (Principal U.S. Listing Exchange: NYSE)
Semi-Annual Shareholder Report | April 30, 2026
This semi-annual shareholder report contains important information about the Pacer Metaurus US Large Cap Dividend Multiplier 400 ETF for the period of November 1, 2025, to April 30, 2026. You can find additional information about the Fund at https://www.paceretfs.com/. You can also request this information by contacting us at 877-337-0500.
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS? (based on a hypothetical $10,000 investment)
Fund Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment*
Pacer Metaurus US Large Cap Dividend Multiplier 400 ETF
$31
0.60%
* Annualized
KEY FUND STATISTICS (as of April 30, 2026)
Net Assets
$1,561,035,092
Portfolio Turnover
4%
Number of Holdings
520
30-Day SEC Yield
0.78%
Net Advisory Fee
$4,227,437
30-Day SEC Yield Unsubsidized
0.78%
WHAT DID THE FUND INVEST IN? (as of April 30, 2026)*
Top 10 Issuers
(%)
United States Treasury Note/Bond
8.7%
NVIDIA Corp.
7.1%
Alphabet, Inc.
5.9%
Apple, Inc.
5.8%
Microsoft Corp.
4.4%
Amazon.com, Inc.
3.8%
Broadcom, Inc.
2.9%
Meta Platforms, Inc.
2.0%
Tesla Motors, Inc.
1.6%
Berkshire Hathaway, Inc.
1.3%
Top Sectors
(%)
Information Technology
31.6%
Financials
10.8%
Communication Services
9.9%
Consumer Discretionary
9.0%
Government
8.8%
Industrials
7.9%
Health Care
7.7%
Consumer Staples
4.5%
Energy
3.2%
Cash & Other
6.6%
* Percentages are stated as a percent of net assets.
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit https://www.paceretfs.com/.
HOUSEHOLDING
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Pacer Advisors, Inc. documents not be householded, please contact Pacer Advisors, Inc. at 877-337-0500, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Pacer Advisors, Inc. or your financial intermediary.
Pacer Metaurus US Large Cap Dividend Multiplier 400 ETF  PAGE 1  TSR-SAR-69374H436
 
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Pacer PE/VC ETF
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PEVC (Principal U.S. Listing Exchange: NYSE)
Semi-Annual Shareholder Report | April 30, 2026
This semi-annual shareholder report contains important information about the Pacer PE/VC ETF for the period of November 1, 2025, to April 30, 2026. You can find additional information about the Fund at https://www.paceretfs.com/. You can also request this information by contacting us at 877-337-0500.
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS? (based on a hypothetical $10,000 investment)
Fund Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment*
Pacer PE/VC ETF
$43
0.85%
* Annualized
KEY FUND STATISTICS (as of April 30, 2026)
Net Assets
$2,299,750
Portfolio Turnover
58%
Number of Holdings
221
30-Day SEC Yield
0.35%
Net Advisory Fee
$13,625
30-Day SEC Yield Unsubsidized
0.35%
WHAT DID THE FUND INVEST IN? (as of April 30, 2026)*
Top 10 Issuers
(%)
Alphabet, Inc.
4.9%
Microsoft Corp.
4.0%
Meta Platforms, Inc.
3.8%
Broadcom, Inc.
3.5%
NVIDIA Corp.
3.2%
Amazon.com, Inc.
3.1%
Apple, Inc.
3.0%
EA16345NIP Basket
2.4%
Berkshire Hathaway, Inc.
2.2%
Mastercard, Inc.
2.1%
Top Sectors
(%)
Information Technology
33.4%
Communication Services
12.8%
Financials
11.4%
Industrials
8.0%
Consumer Discretionary
7.7%
Health Care
5.4%
Consumer Staples
5.4%
Energy
2.3%
Materials
2.2%
Cash & Other
11.4%
* Percentages are stated as a percent of net assets.
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit https://www.paceretfs.com/.
HOUSEHOLDING
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Pacer Advisors, Inc. documents not be householded, please contact Pacer Advisors, Inc. at 877-337-0500, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Pacer Advisors, Inc. or your financial intermediary.
Pacer PE/VC ETF  PAGE 1  TSR-SAR-69374H253
 
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Pacer S&P 500 Quality FCF Aristocrats ETF
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LCOW (Principal U.S. Listing Exchange: CBOE)
Semi-Annual Shareholder Report | April 30, 2026
This semi-annual shareholder report contains important information about the Pacer S&P 500 Quality FCF Aristocrats ETF for the period of November 1, 2025, to April 30, 2026. You can find additional information about the Fund at https://www.paceretfs.com/. You can also request this information by contacting us at 877-337-0500.
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS? (based on a hypothetical $10,000 investment)
Fund Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment*
Pacer S&P 500 Quality FCF Aristocrats ETF
$25
0.49%
* Annualized
KEY FUND STATISTICS (as of April 30, 2026)
Net Assets
$22,985,375
Number of Holdings
100
Net Advisory Fee
$41,478
Portfolio Turnover
10%
30-Day SEC Yield
0.79%
30-Day SEC Yield Unsubsidized
0.79%
WHAT DID THE FUND INVEST IN? (as of April 30, 2026)*
Top Sectors
(%)
Information Technology
41.6%
Financials
17.4%
Health Care
15.5%
Communication Services
11.0%
Consumer Staples
5.3%
Consumer Discretionary
5.2%
Industrials
3.5%
Energy
0.4%
Cash & Other
0.1%
Top 10 Issuers
(%)
Alphabet, Inc.
5.8%
Broadcom, Inc.
5.7%
NVIDIA Corp.
5.2%
Microsoft Corp.
5.2%
Visa, Inc.
5.1%
Apple, Inc.
5.0%
Meta Platforms, Inc.
4.8%
Mastercard, Inc.
4.7%
AbbVie, Inc.
4.3%
Johnson & Johnson
3.3%
* Percentages are stated as a percent of net assets.
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit https://www.paceretfs.com/.
Pacer S&P 500 Quality FCF Aristocrats ETF  PAGE 1  TSR-SAR-69374H238
 
HOUSEHOLDING
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Pacer Advisors, Inc. documents not be householded, please contact Pacer Advisors, Inc. at 877-337-0500, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Pacer Advisors, Inc. or your financial intermediary.
Pacer S&P 500 Quality FCF Aristocrats ETF  PAGE 2  TSR-SAR-69374H238
 
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Pacer S&P 500 Quality FCF High Dividend ETF
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QFHD (Principal U.S. Listing Exchange: CBOE)
Semi-Annual Shareholder Report | April 30, 2026
This semi-annual shareholder report contains important information about the Pacer S&P 500 Quality FCF High Dividend ETF for the period of January 12, 2026, to April 30, 2026. You can find additional information about the Fund at https://www.paceretfs.com/. You can also request this information by contacting us at 877-337-0500.
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS? (based on a hypothetical $10,000 investment)
Fund Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment*,**
Pacer S&P 500 Quality FCF High Dividend ETF
$15
0.49%
* Amount shown reflects the expenses of the Fund from January 12, 2026 (inception date) through April 30, 2026. Expenses would be higher if the Fund had been in operations for a full year.
** Annualized
KEY FUND STATISTICS (as of April 30, 2026)
Net Assets
$531,305
Number of Holdings
100
Net Advisory Fee
$1,236
Portfolio Turnover
13%
30-Day SEC Yield
2.69%
30-Day SEC Yield Unsubsidized
2.69%
WHAT DID THE FUND INVEST IN? (as of April 30, 2026)*
Top Sectors
(%)
Financials
21.8%
Consumer Staples
15.0%
Industrials
13.0%
Utilities
11.6%
Energy
8.1%
Health Care
8.1%
Information Technology
6.9%
Consumer Discretionary
6.0%
Materials
5.5%
Cash & Other
4.0%
Top 10 Issuers
(%)
United Parcel Service, Inc.
2.3%
LyondellBasell Industries NV
2.1%
Campbell’s Co.
2.1%
T Rowe Price Group, Inc.
2.0%
Skyworks Solutions, Inc.
2.0%
Pfizer, Inc.
2.0%
Altria Group, Inc.
1.9%
Prudential Financial, Inc.
1.9%
Best Buy Co., Inc.
1.8%
General Mills, Inc.
1.7%
* Percentages are stated as a percent of net assets.
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit https://www.paceretfs.com/.
Pacer S&P 500 Quality FCF High Dividend ETF  PAGE 1  TSR-SAR-69374H188
 
HOUSEHOLDING
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Pacer Advisors, Inc. documents not be householded, please contact Pacer Advisors, Inc. at 877-337-0500, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Pacer Advisors, Inc. or your financial intermediary.
Pacer S&P 500 Quality FCF High Dividend ETF  PAGE 2  TSR-SAR-69374H188
 
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Pacer S&P 500 Quality FCF R&D Leaders ETF
image
QFRD (Principal U.S. Listing Exchange: CBOE)
Semi-Annual Shareholder Report | April 30, 2026
This semi-annual shareholder report contains important information about the Pacer S&P 500 Quality FCF R&D Leaders ETF for the period of January 12, 2026, to April 30, 2026. You can find additional information about the Fund at https://www.paceretfs.com/. You can also request this information by contacting us at 877-337-0500.
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS? (based on a hypothetical $10,000 investment)
Fund Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment*,**
Pacer S&P 500 Quality FCF R&D Leaders ETF
$15
0.49%
* Amount shown reflects the expenses of the Fund from January 12, 2026 (inception date) through April 30, 2026. Expenses would be higher if the Fund had been in operations for a full year.
** Annualized
KEY FUND STATISTICS (as of April 30, 2026)
Net Assets
$1,010,910
Number of Holdings
50
Net Advisory Fee
$1,380
Portfolio Turnover
23%
30-Day SEC Yield
0.33%
30-Day SEC Yield Unsubsidized
0.33%
WHAT DID THE FUND INVEST IN? (as of April 30, 2026)*
Top Sectors
(%)
Information Technology
58.1%
Health Care
25.1%
Communication Services
8.8%
Consumer Discretionary
4.4%
Financials
3.5%
Cash & Other
0.1%
Top 10 Issuers
(%)
Synopsys, Inc.
3.7%
Cadence Design System, Inc.
3.7%
Datadog, Inc.
3.7%
Coinbase Global, Inc.
3.5%
Incyte Corp.
3.2%
Workday, Inc.
3.1%
Advanced Micro Devices, Inc.
3.1%
Electronic Arts, Inc.
3.0%
Vertex Pharmaceuticals, Inc.
3.0%
QUALCOMM, Inc.
2.7%
* Percentages are stated as a percent of net assets.
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit https://www.paceretfs.com/.
Pacer S&P 500 Quality FCF R&D Leaders ETF  PAGE 1  TSR-SAR-69374H170
 
HOUSEHOLDING
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Pacer Advisors, Inc. documents not be householded, please contact Pacer Advisors, Inc. at 877-337-0500, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Pacer Advisors, Inc. or your financial intermediary.
Pacer S&P 500 Quality FCF R&D Leaders ETF  PAGE 2  TSR-SAR-69374H170
 
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Pacer S&P MidCap 400 Quality FCF Aristocrats ETF
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MCOW (Principal U.S. Listing Exchange: CBOE)
Semi-Annual Shareholder Report | April 30, 2026
This semi-annual shareholder report contains important information about the Pacer S&P MidCap 400 Quality FCF Aristocrats ETF for the period of November 1, 2025, to April 30, 2026. You can find additional information about the Fund at https://www.paceretfs.com/. You can also request this information by contacting us at 877-337-0500.
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS? (based on a hypothetical $10,000 investment)
Fund Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment*
Pacer S&P MidCap 400 Quality FCF Aristocrats ETF
$24
0.49%
* Annualized
KEY FUND STATISTICS (as of April 30, 2026)
Net Assets
$984,921
Number of Holdings
80
Net Advisory Fee
$2,383
Portfolio Turnover
33%
30-Day SEC Yield
0.31%
30-Day SEC Yield Unsubsidized
0.31%
WHAT DID THE FUND INVEST IN? (as of April 30, 2026)*
Top Sectors
(%)
Information Technology
33.9%
Industrials
29.5%
Health Care
14.1%
Consumer Discretionary
7.9%
Financials
4.3%
Energy
4.1%
Communication Services
2.6%
Materials
1.9%
Consumer Staples
1.6%
Cash & Other
0.1%
Top 10 Issuers
(%)
Everpure, Inc.
4.9%
Lattice Semiconductor Corp.
3.8%
Docusign, Inc.
3.2%
Rambus, Inc.
3.1%
Manhattan Associates, Inc.
2.8%
Medpace Holdings, Inc.
2.8%
Sterling Infrastructure, Inc.
2.8%
Mueller Industries, Inc.
2.5%
DT Midstream, Inc.
2.5%
Exelixis, Inc.
2.4%
* Percentages are stated as a percent of net assets.
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit https://www.paceretfs.com/.
Pacer S&P MidCap 400 Quality FCF Aristocrats ETF  PAGE 1  TSR-SAR-69374H212
 
HOUSEHOLDING
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Pacer Advisors, Inc. documents not be householded, please contact Pacer Advisors, Inc. at 877-337-0500, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Pacer Advisors, Inc. or your financial intermediary.
Pacer S&P MidCap 400 Quality FCF Aristocrats ETF  PAGE 2  TSR-SAR-69374H212
 
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Pacer S&P SmallCap 600 Quality FCF Aristocrats ETF
image
SCOW (Principal U.S. Listing Exchange: CBOE)
Semi-Annual Shareholder Report | April 30, 2026
This semi-annual shareholder report contains important information about the Pacer S&P SmallCap 600 Quality FCF Aristocrats ETF for the period of November 1, 2025, to April 30, 2026. You can find additional information about the Fund at https://www.paceretfs.com/. You can also request this information by contacting us at 877-337-0500.
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS? (based on a hypothetical $10,000 investment)
Fund Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment*
Pacer S&P SmallCap 600 Quality FCF Aristocrats ETF
$30
0.59%
* Annualized
KEY FUND STATISTICS (as of April 30, 2026)
Net Assets
$1,543,386
Number of Holdings
80
Net Advisory Fee
$3,542
Portfolio Turnover
44%
30-Day SEC Yield
0.45%
30-Day SEC Yield Unsubsidized
0.45%
WHAT DID THE FUND INVEST IN? (as of April 30, 2026)*
Top Sectors
(%)
Financials
21.2%
Information Technology
19.5%
Consumer Discretionary
17.6%
Industrials
11.4%
Energy
9.6%
Health Care
9.5%
Communication Services
9.3%
Utilities
1.1%
Consumer Staples
0.5%
Cash & Other
0.3%
Top 10 Issuers
(%)
Jackson Financial, Inc.
5.1%
Etsy, Inc.
4.1%
Magnolia Oil & Gas Corp.
4.1%
Match Group, Inc.
4.0%
MarketAxess Holdings, Inc.
3.8%
Enova International, Inc.
3.4%
Bread Financial Holdings, Inc.
2.9%
Corcept Therapeutics, Inc.
2.7%
Paycom Software, Inc.
2.7%
Box, Inc.
2.6%
* Percentages are stated as a percent of net assets.
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit https://www.paceretfs.com/.
Pacer S&P SmallCap 600 Quality FCF Aristocrats ETF  PAGE 1  TSR-SAR-69374H220
 
HOUSEHOLDING
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Pacer Advisors, Inc. documents not be householded, please contact Pacer Advisors, Inc. at 877-337-0500, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Pacer Advisors, Inc. or your financial intermediary.
Pacer S&P SmallCap 600 Quality FCF Aristocrats ETF  PAGE 2  TSR-SAR-69374H220
 
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Pacer Solactive Whitney Future of Warfare ETF
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FOWF (Principal U.S. Listing Exchange: CBOE)
Semi-Annual Shareholder Report | April 30, 2026
This semi-annual shareholder report contains important information about the Pacer Solactive Whitney Future of Warfare ETF for the period of November 1, 2025, to April 30, 2026. You can find additional information about the Fund at https://www.paceretfs.com/. You can also request this information by contacting us at 877-337-0500.
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS? (based on a hypothetical $10,000 investment)
Fund Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment*
Pacer Solactive Whitney Future of Warfare ETF
$25
0.49%
* Annualized
KEY FUND STATISTICS (as of April 30, 2026)
Net Assets
$14,804,989
Portfolio Turnover
10%
Number of Holdings
86
30-Day SEC Yield
0.84%
Net Advisory Fee
$25,228
30-Day SEC Yield Unsubsidized
0.84%
WHAT DID THE FUND INVEST IN? (as of April 30, 2026)*
Top 10 Issuers
(%)
General Dynamics Corp.
7.5%
Boeing Co.
7.5%
RTX Corp.
6.7%
Lockheed Martin Corp.
6.4%
Northrop Grumman Corp.
5.6%
BAE Systems PLC
4.0%
L3Harris Technologies, Inc.
3.2%
Dell Technologies, Inc.
2.1%
Leidos Holdings, Inc.
2.1%
Honeywell International, Inc.
1.7%
Top Sectors
(%)
Industrials
64.1%
Information Technology
27.1%
Communication Services
5.8%
Consumer Discretionary
2.0%
Materials
0.8%
Cash & Other
0.2%
* Percentages are stated as a percent of net assets.
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit https://www.paceretfs.com/.
HOUSEHOLDING
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Pacer Advisors, Inc. documents not be householded, please contact Pacer Advisors, Inc. at 877-337-0500, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Pacer Advisors, Inc. or your financial intermediary.
Pacer Solactive Whitney Future of Warfare ETF  PAGE 1  TSR-SAR-69374H261
 
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Pacer Swan SOS Conservative (April) ETF
image
PSCW (Principal U.S. Listing Exchange: CBOE)
Semi-Annual Shareholder Report | April 30, 2026
This semi-annual shareholder report contains important information about the Pacer Swan SOS Conservative (April) ETF for the period of November 1, 2025, to April 30, 2026. You can find additional information about the Fund at https://www.paceretfs.com/. You can also request this information by contacting us at 877-337-0500.
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS? (based on a hypothetical $10,000 investment)
Fund Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment*
Pacer Swan SOS Conservative (April) ETF
$31
0.60%
* Annualized
KEY FUND STATISTICS (as of April 30, 2026)
Net Assets
$60,593,534
Portfolio Turnover
0%
Number of Holdings
4
30-Day SEC Yield
-0.57%
Net Advisory Fee
$195,343
30-Day SEC Yield Unsubsidized
-0.57%
WHAT DID THE FUND INVEST IN? (as of April 30, 2026)*
Security Type
(%)
Purchased Options
107.7%
Written Options
-8.1%
Cash & Other
0.4%
Top Holdings
(%)
State Street SPDR S&P 500 ETF Trust, Expiration: 03/31/2027; Exercise Price: $7.15
105.0%
State Street SPDR S&P 500 ETF Trust, Expiration: 03/31/2027; Exercise Price: $617.82
2.7%
State Street SPDR S&P 500 ETF Trust, Expiration: 03/31/2027; Exercise Price: $455.24 (Short)
-0.7%
State Street SPDR S&P 500 ETF Trust, Expiration: 03/31/2027; Exercise Price: $735.40 (Short)
-7.4%
* Percentages are stated as a percent of net assets.
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit https://www.paceretfs.com/.
HOUSEHOLDING
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Pacer Advisors, Inc. documents not be householded, please contact Pacer Advisors, Inc. at 877-337-0500, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Pacer Advisors, Inc. or your financial intermediary.
Pacer Swan SOS Conservative (April) ETF  PAGE 1  TSR-SAR-69374H543
 
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Pacer Swan SOS Conservative (January) ETF
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PSCX (Principal U.S. Listing Exchange: CBOE)
Semi-Annual Shareholder Report | April 30, 2026
This semi-annual shareholder report contains important information about the Pacer Swan SOS Conservative (January) ETF for the period of November 1, 2025, to April 30, 2026. You can find additional information about the Fund at https://www.paceretfs.com/. You can also request this information by contacting us at 877-337-0500.
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS? (based on a hypothetical $10,000 investment)
Fund Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment*
Pacer Swan SOS Conservative (January) ETF
$31
0.60%
* Annualized
KEY FUND STATISTICS (as of April 30, 2026)
Net Assets
$46,421,417
Portfolio Turnover
0%
Number of Holdings
4
30-Day SEC Yield
-0.57%
Net Advisory Fee
$118,448
30-Day SEC Yield Unsubsidized
-0.57%
WHAT DID THE FUND INVEST IN? (as of April 30, 2026)*
Security Type
(%)
Purchased Options
103.5%
Written Options
-3.9%
Cash & Other
0.4%
Top Holdings
(%)
SPDR S&P 500 ETF Trust, Expiration: 12/31/2026; Exercise Price: $7.50
100.9%
SPDR S&P 500 ETF Trust, Expiration: 12/31/2026; Exercise Price: $647.82
2.5%
SPDR S&P 500 ETF Trust, Expiration: 12/31/2026; Exercise Price: $477.34 (Short)
-0.6%
SPDR S&P 500 ETF Trust, Expiration: 12/31/2026; Exercise Price: $763.55 (Short)
-3.3%
* Percentages are stated as a percent of net assets.
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit https://www.paceretfs.com/.
HOUSEHOLDING
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Pacer Advisors, Inc. documents not be householded, please contact Pacer Advisors, Inc. at 877-337-0500, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Pacer Advisors, Inc. or your financial intermediary.
Pacer Swan SOS Conservative (January) ETF  PAGE 1  TSR-SAR-69374H584
 
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Pacer Swan SOS Conservative (July) ETF
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PSCJ (Principal U.S. Listing Exchange: CBOE)
Semi-Annual Shareholder Report | April 30, 2026
This semi-annual shareholder report contains important information about the Pacer Swan SOS Conservative (July) ETF for the period of November 1, 2025, to April 30, 2026. You can find additional information about the Fund at https://www.paceretfs.com/. You can also request this information by contacting us at 877-337-0500.
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS? (based on a hypothetical $10,000 investment)
Fund Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment*
Pacer Swan SOS Conservative (July) ETF
$30
0.60%
* Annualized
KEY FUND STATISTICS (as of April 30, 2026)
Net Assets
$41,230,760
Portfolio Turnover
0%
Number of Holdings
4
30-Day SEC Yield
-0.57%
Net Advisory Fee
$122,299
30-Day SEC Yield Unsubsidized
-0.57%
WHAT DID THE FUND INVEST IN? (as of April 30, 2026)*
Security Type
(%)
Purchased Options
105.2%
Written Options
-5.6%
Cash & Other
0.4%
Top Holdings
(%)
SPDR S&P 500 ETF Trust, Expiration: 06/30/2026; Exercise Price: $6.80
105.0%
SPDR S&P 500 ETF Trust, Expiration: 06/30/2026; Exercise Price: $586.96
0.2%
SPDR S&P 500 ETF Trust, Expiration: 06/30/2026; Exercise Price: $432.50 (Short)
0.0%
SPDR S&P 500 ETF Trust, Expiration: 06/30/2026; Exercise Price: $693.41 (Short)
-5.5%
* Percentages are stated as a percent of net assets.
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit https://www.paceretfs.com/.
HOUSEHOLDING
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Pacer Advisors, Inc. documents not be householded, please contact Pacer Advisors, Inc. at 877-337-0500, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Pacer Advisors, Inc. or your financial intermediary.
Pacer Swan SOS Conservative (July) ETF  PAGE 1  TSR-SAR-69374H535
 
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Pacer Swan SOS Conservative (October) ETF
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PSCQ (Principal U.S. Listing Exchange: CBOE)
Semi-Annual Shareholder Report | April 30, 2026
This semi-annual shareholder report contains important information about the Pacer Swan SOS Conservative (October) ETF for the period of November 1, 2025, to April 30, 2026. You can find additional information about the Fund at https://www.paceretfs.com/. You can also request this information by contacting us at 877-337-0500.
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS? (based on a hypothetical $10,000 investment)
Fund Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment*
Pacer Swan SOS Conservative (October) ETF
$30
0.60%
* Annualized
KEY FUND STATISTICS (as of April 30, 2026)
Net Assets
$47,283,951
Portfolio Turnover
0%
Number of Holdings
4
30-Day SEC Yield
-0.57%
Net Advisory Fee
$139,341
30-Day SEC Yield Unsubsidized
-0.57%
WHAT DID THE FUND INVEST IN? (as of April 30, 2026)*
Security Type
(%)
Purchased Options
103.1%
Written Options
-3.3%
Cash & Other
0.2%
Top Holdings
(%)
SPDR S&P 500 ETF Trust, Expiration: 09/30/2026; Exercise Price: $7.33
101.8%
SPDR S&P 500 ETF Trust, Expiration: 09/30/2026; Exercise Price: $632.87
1.4%
SPDR S&P 500 ETF Trust, Expiration: 09/30/2026; Exercise Price: $466.33 (Short)
-0.3%
SPDR S&P 500 ETF Trust, Expiration: 09/30/2026; Exercise Price: $743.52 (Short)
-3.0%
* Percentages are stated as a percent of net assets.
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit https://www.paceretfs.com/.
HOUSEHOLDING
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Pacer Advisors, Inc. documents not be householded, please contact Pacer Advisors, Inc. at 877-337-0500, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Pacer Advisors, Inc. or your financial intermediary.
Pacer Swan SOS Conservative (October) ETF  PAGE 1  TSR-SAR-69374H527
 
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Pacer Swan SOS Flex (April) ETF
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PSFM (Principal U.S. Listing Exchange: CBOE)
Semi-Annual Shareholder Report | April 30, 2026
This semi-annual shareholder report contains important information about the Pacer Swan SOS Flex (April) ETF for the period of November 1, 2025, to April 30, 2026. You can find additional information about the Fund at https://www.paceretfs.com/. You can also request this information by contacting us at 877-337-0500.
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS? (based on a hypothetical $10,000 investment)
Fund Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment*
Pacer Swan SOS Flex (April) ETF
$31
0.60%
* Annualized
KEY FUND STATISTICS (as of April 30, 2026)
Net Assets
$22,213,664
Portfolio Turnover
0%
Number of Holdings
5
30-Day SEC Yield
-0.57%
Net Advisory Fee
$63,533
30-Day SEC Yield Unsubsidized
-0.57%
WHAT DID THE FUND INVEST IN? (as of April 30, 2026)*
Security Type
(%)
Purchased Options
107.5%
Written Options
-8.0%
Cash & Other
0.5%
Top Holdings
(%)
State Street SPDR S&P 500 ETF Trust, Expiration: 03/31/2027; Exercise Price: $7.28
103.6%
State Street SPDR S&P 500 ETF Trust, Expiration: 03/31/2027; Exercise Price: $650.34
3.4%
State Street SPDR S&P 500 ETF Trust, Expiration: 03/31/2027; Exercise Price: $390.20
0.5%
State Street SPDR S&P 500 ETF Trust, Expiration: 03/31/2027; Exercise Price: $520.27 (Short)
-2.4%
State Street SPDR S&P 500 ETF Trust, Expiration: 03/31/2027; Exercise Price: $755.50 (Short)
-5.6%
* Percentages are stated as a percent of net assets.
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit https://www.paceretfs.com/.
HOUSEHOLDING
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Pacer Advisors, Inc. documents not be householded, please contact Pacer Advisors, Inc. at 877-337-0500, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Pacer Advisors, Inc. or your financial intermediary.
Pacer Swan SOS Flex (April) ETF  PAGE 1  TSR-SAR-69374H477
 
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Pacer Swan SOS Flex (January) ETF
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PSFD (Principal U.S. Listing Exchange: CBOE)
Semi-Annual Shareholder Report | April 30, 2026
This semi-annual shareholder report contains important information about the Pacer Swan SOS Flex (January) ETF for the period of November 1, 2025, to April 30, 2026. You can find additional information about the Fund at https://www.paceretfs.com/. You can also request this information by contacting us at 877-337-0500.
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS? (based on a hypothetical $10,000 investment)
Fund Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment*
Pacer Swan SOS Flex (January) ETF
$31
0.60%
* Annualized
KEY FUND STATISTICS (as of April 30, 2026)
Net Assets
$58,312,921
Portfolio Turnover
0%
Number of Holdings
5
30-Day SEC Yield
-0.56%
Net Advisory Fee
$155,366
30-Day SEC Yield Unsubsidized
-0.56%
WHAT DID THE FUND INVEST IN? (as of April 30, 2026)*
Security Type
(%)
Purchased Options
104.0%
Written Options
-4.4%
Cash & Other
0.4%
Top Holdings
(%)
SPDR S&P 500 ETF Trust, Expiration: 12/31/2026; Exercise Price: $7.64
100.2%
SPDR S&P 500 ETF Trust, Expiration: 12/31/2026; Exercise Price: $681.92
3.4%
SPDR S&P 500 ETF Trust, Expiration: 12/31/2026; Exercise Price: $409.15
0.3%
SPDR S&P 500 ETF Trust, Expiration: 12/31/2026; Exercise Price: $545.54 (Short)
-2.0%
SPDR S&P 500 ETF Trust, Expiration: 12/31/2026; Exercise Price: $779.43 (Short)
-2.4%
* Percentages are stated as a percent of net assets.
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit https://www.paceretfs.com/.
HOUSEHOLDING
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Pacer Advisors, Inc. documents not be householded, please contact Pacer Advisors, Inc. at 877-337-0500, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Pacer Advisors, Inc. or your financial intermediary.
Pacer Swan SOS Flex (January) ETF  PAGE 1  TSR-SAR-69374H576
 
image
Pacer Swan SOS Flex (July) ETF
image
PSFJ (Principal U.S. Listing Exchange: CBOE)
Semi-Annual Shareholder Report | April 30, 2026
This semi-annual shareholder report contains important information about the Pacer Swan SOS Flex (July) ETF for the period of November 1, 2025, to April 30, 2026. You can find additional information about the Fund at https://www.paceretfs.com/. You can also request this information by contacting us at 877-337-0500.
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS? (based on a hypothetical $10,000 investment)
Fund Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment*
Pacer Swan SOS Flex (July) ETF
$31
0.60%
* Annualized
KEY FUND STATISTICS (as of April 30, 2026)
Net Assets
$34,471,712
Portfolio Turnover
0%
Number of Holdings
5
30-Day SEC Yield
-0.57%
Net Advisory Fee
$108,069
30-Day SEC Yield Unsubsidized
-0.57%
WHAT DID THE FUND INVEST IN? (as of April 30, 2026)*
Security Type
(%)
Purchased Options
103.8%
Written Options
-4.3%
Cash & Other
0.5%
Top Holdings
(%)
SPDR S&P 500 ETF Trust, Expiration: 06/30/2026; Exercise Price: $6.92
103.5%
SPDR S&P 500 ETF Trust, Expiration: 06/30/2026; Exercise Price: $617.85
0.3%
SPDR S&P 500 ETF Trust, Expiration: 06/30/2026; Exercise Price: $370.71
0.0%
SPDR S&P 500 ETF Trust, Expiration: 06/30/2026; Exercise Price: $494.28 (Short)
-0.1%
SPDR S&P 500 ETF Trust, Expiration: 06/30/2026; Exercise Price: $704.97 (Short)
-4.2%
* Percentages are stated as a percent of net assets.
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit https://www.paceretfs.com/.
HOUSEHOLDING
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Pacer Advisors, Inc. documents not be householded, please contact Pacer Advisors, Inc. at 877-337-0500, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Pacer Advisors, Inc. or your financial intermediary.
Pacer Swan SOS Flex (July) ETF  PAGE 1  TSR-SAR-69374H469
 
image
Pacer Swan SOS Flex (October) ETF
image
PSFO (Principal U.S. Listing Exchange: CBOE)
Semi-Annual Shareholder Report | April 30, 2026
This semi-annual shareholder report contains important information about the Pacer Swan SOS Flex (October) ETF for the period of November 1, 2025, to April 30, 2026. You can find additional information about the Fund at https://www.paceretfs.com/. You can also request this information by contacting us at 877-337-0500.
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS? (based on a hypothetical $10,000 investment)
Fund Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment*
Pacer Swan SOS Flex (October) ETF
$31
0.60%
* Annualized
KEY FUND STATISTICS (as of April 30, 2026)
Net Assets
$44,702,942
Portfolio Turnover
0%
Number of Holdings
5
30-Day SEC Yield
-0.56%
Net Advisory Fee
$122,791
30-Day SEC Yield Unsubsidized
-0.56%
WHAT DID THE FUND INVEST IN? (as of April 30, 2026)*
Security Type
(%)
Purchased Options
102.5%
Written Options
-3.0%
Cash & Other
0.5%
Top Holdings
(%)
SPDR S&P 500 ETF Trust, Expiration: 09/30/2026; Exercise Price: $7.46
100.3%
SPDR S&P 500 ETF Trust, Expiration: 09/30/2026; Exercise Price: $666.18
2.0%
SPDR S&P 500 ETF Trust, Expiration: 09/30/2026; Exercise Price: $399.71
0.2%
SPDR S&P 500 ETF Trust, Expiration: 09/30/2026; Exercise Price: $532.94 (Short)
-1.0%
SPDR S&P 500 ETF Trust, Expiration: 09/30/2026; Exercise Price: $757.65 (Short)
-2.0%
* Percentages are stated as a percent of net assets.
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit https://www.paceretfs.com/.
HOUSEHOLDING
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Pacer Advisors, Inc. documents not be householded, please contact Pacer Advisors, Inc. at 877-337-0500, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Pacer Advisors, Inc. or your financial intermediary.
Pacer Swan SOS Flex (October) ETF  PAGE 1  TSR-SAR-69374H451
 
image
Pacer Swan SOS Fund of Funds ETF
image
PSFF (Principal U.S. Listing Exchange: CBOE)
Semi-Annual Shareholder Report | April 30, 2026
This semi-annual shareholder report contains important information about the Pacer Swan SOS Fund of Funds ETF for the period of November 1, 2025, to April 30, 2026. You can find additional information about the Fund at https://www.paceretfs.com/. You can also request this information by contacting us at 877-337-0500.
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS? (based on a hypothetical $10,000 investment)
Fund Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment*
Pacer Swan SOS Fund of Funds ETF
$6
0.12%
* Annualized
KEY FUND STATISTICS (as of April 30, 2026)
Net Assets
$567,486,947
Portfolio Turnover
0%
Number of Holdings
12
30-Day SEC Yield
-0.10%
Net Advisory Fee
$325,394
30-Day SEC Yield Unsubsidized
-0.10%
WHAT DID THE FUND INVEST IN? (as of April 30, 2026)*
Security Type
(%)
Affiliated Exchange Traded Funds
99.6%
Cash & Other
0.4%
Top Holdings
(%)
Pacer Swan SOS Moderate (October) ETF
15.0%
Pacer Swan SOS Moderate (January) ETF
14.0%
Pacer Swan SOS Moderate (July) ETF
13.0%
Pacer Swan SOS Moderate (April) ETF
12.9%
Pacer Swan SOS Conservative (April) ETF
9.2%
Pacer Swan SOS Conservative (October) ETF
7.3%
Pacer Swan SOS Conservative (July) ETF
6.2%
Pacer Swan SOS Flex (January) ETF
5.7%
Pacer Swan SOS Flex (October) ETF
5.1%
Pacer Swan SOS Conservative (January) ETF
4.5%
* Percentages are stated as a percent of net assets.
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit https://www.paceretfs.com/.
HOUSEHOLDING
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Pacer Advisors, Inc. documents not be householded, please contact Pacer Advisors, Inc. at 877-337-0500, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Pacer Advisors, Inc. or your financial intermediary.
Pacer Swan SOS Fund of Funds ETF  PAGE 1  TSR-SAR-69374H568
 
image
Pacer Swan SOS Moderate (April) ETF
image
PSMR (Principal U.S. Listing Exchange: CBOE)
Semi-Annual Shareholder Report | April 30, 2026
This semi-annual shareholder report contains important information about the Pacer Swan SOS Moderate (April) ETF for the period of November 1, 2025, to April 30, 2026. You can find additional information about the Fund at https://www.paceretfs.com/. You can also request this information by contacting us at 877-337-0500.
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS? (based on a hypothetical $10,000 investment)
Fund Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment*
Pacer Swan SOS Moderate (April) ETF
$31
0.60%
* Annualized
KEY FUND STATISTICS (as of April 30, 2026)
Net Assets
$86,281,778
Portfolio Turnover
0%
Number of Holdings
4
30-Day SEC Yield
-0.57%
Net Advisory Fee
$252,752
30-Day SEC Yield Unsubsidized
-0.57%
WHAT DID THE FUND INVEST IN? (as of April 30, 2026)*
Security Type
(%)
Purchased Options
108.1%
Written Options
-8.5%
Cash & Other
0.4%
Top Holdings
(%)
State Street SPDR S&P 500 ETF Trust, Expiration: 03/31/2027; Exercise Price: $7.22
104.7%
State Street SPDR S&P 500 ETF Trust, Expiration: 03/31/2027; Exercise Price: $650.41
3.4%
State Street SPDR S&P 500 ETF Trust, Expiration: 03/31/2027; Exercise Price: $552.79 (Short)
-1.6%
State Street SPDR S&P 500 ETF Trust, Expiration: 03/31/2027; Exercise Price: $739.89 (Short)
-7.0%
* Percentages are stated as a percent of net assets.
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit https://www.paceretfs.com/.
HOUSEHOLDING
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Pacer Advisors, Inc. documents not be householded, please contact Pacer Advisors, Inc. at 877-337-0500, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Pacer Advisors, Inc. or your financial intermediary.
Pacer Swan SOS Moderate (April) ETF  PAGE 1  TSR-SAR-69374H519
 
image
Pacer Swan SOS Moderate (January) ETF
image
PSMD (Principal U.S. Listing Exchange: CBOE)
Semi-Annual Shareholder Report | April 30, 2026
This semi-annual shareholder report contains important information about the Pacer Swan SOS Moderate (January) ETF for the period of November 1, 2025, to April 30, 2026. You can find additional information about the Fund at https://www.paceretfs.com/. You can also request this information by contacting us at 877-337-0500.
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS? (based on a hypothetical $10,000 investment)
Fund Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment*
Pacer Swan SOS Moderate (January) ETF
$31
0.60%
* Annualized
KEY FUND STATISTICS (as of April 30, 2026)
Net Assets
$93,283,080
Portfolio Turnover
0%
Number of Holdings
4
30-Day SEC Yield
-0.57%
Net Advisory Fee
$252,081
30-Day SEC Yield Unsubsidized
-0.57%
WHAT DID THE FUND INVEST IN? (as of April 30, 2026)*
Security Type
(%)
Purchased Options
104.1%
Written Options
-4.6%
Cash & Other
0.5%
Top Holdings
(%)
SPDR S&P 500 ETF Trust, Expiration: 12/31/2026; Exercise Price: $7.57
100.7%
SPDR S&P 500 ETF Trust, Expiration: 12/31/2026; Exercise Price: $681.99
3.5%
SPDR S&P 500 ETF Trust, Expiration: 12/31/2026; Exercise Price: $579.63 (Short)
-1.4%
SPDR S&P 500 ETF Trust, Expiration: 12/31/2026; Exercise Price: $764.77 (Short)
-3.2%
* Percentages are stated as a percent of net assets.
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit https://www.paceretfs.com/.
HOUSEHOLDING
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Pacer Advisors, Inc. documents not be householded, please contact Pacer Advisors, Inc. at 877-337-0500, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Pacer Advisors, Inc. or your financial intermediary.
Pacer Swan SOS Moderate (January) ETF  PAGE 1  TSR-SAR-69374H550
 
image
Pacer Swan SOS Moderate (July) ETF
image
PSMJ (Principal U.S. Listing Exchange: CBOE)
Semi-Annual Shareholder Report | April 30, 2026
This semi-annual shareholder report contains important information about the Pacer Swan SOS Moderate (July) ETF for the period of November 1, 2025, to April 30, 2026. You can find additional information about the Fund at https://www.paceretfs.com/. You can also request this information by contacting us at 877-337-0500.
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS? (based on a hypothetical $10,000 investment)
Fund Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment*
Pacer Swan SOS Moderate (July) ETF
$30
0.60%
* Annualized
KEY FUND STATISTICS (as of April 30, 2026)
Net Assets
$88,134,037
Portfolio Turnover
0%
Number of Holdings
4
30-Day SEC Yield
-0.57%
Net Advisory Fee
$263,675
30-Day SEC Yield Unsubsidized
-0.57%
WHAT DID THE FUND INVEST IN? (as of April 30, 2026)*
Security Type
(%)
Purchased Options
105.2%
Written Options
-5.7%
Cash & Other
0.5%
Top Holdings
(%)
SPDR S&P 500 ETF Trust, Expiration: 06/30/2026; Exercise Price: $6.86
104.8%
SPDR S&P 500 ETF Trust, Expiration: 06/30/2026; Exercise Price: $617.91
0.3%
SPDR S&P 500 ETF Trust, Expiration: 06/30/2026; Exercise Price: $525.17 (Short)
-0.1%
SPDR S&P 500 ETF Trust, Expiration: 06/30/2026; Exercise Price: $693.23 (Short)
-5.6%
* Percentages are stated as a percent of net assets.
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit https://www.paceretfs.com/.
HOUSEHOLDING
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Pacer Advisors, Inc. documents not be householded, please contact Pacer Advisors, Inc. at 877-337-0500, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Pacer Advisors, Inc. or your financial intermediary.
Pacer Swan SOS Moderate (July) ETF  PAGE 1  TSR-SAR-69374H493
 
image
Pacer Swan SOS Moderate (October) ETF
image
PSMO (Principal U.S. Listing Exchange: CBOE)
Semi-Annual Shareholder Report | April 30, 2026
This semi-annual shareholder report contains important information about the Pacer Swan SOS Moderate (October) ETF for the period of November 1, 2025, to April 30, 2026. You can find additional information about the Fund at https://www.paceretfs.com/. You can also request this information by contacting us at 877-337-0500.
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS? (based on a hypothetical $10,000 investment)
Fund Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment*
Pacer Swan SOS Moderate (October) ETF
$30
0.60%
* Annualized
KEY FUND STATISTICS (as of April 30, 2026)
Net Assets
$98,636,956
Portfolio Turnover
0%
Number of Holdings
4
30-Day SEC Yield
-0.57%
Net Advisory Fee
$284,617
30-Day SEC Yield Unsubsidized
-0.57%
WHAT DID THE FUND INVEST IN? (as of April 30, 2026)*
Security Type
(%)
Purchased Options
103.1%
Written Options
-3.5%
Cash & Other
0.4%
Top Holdings
(%)
SPDR S&P 500 ETF Trust, Expiration: 09/30/2026; Exercise Price: $7.39
101.1%
SPDR S&P 500 ETF Trust, Expiration: 09/30/2026; Exercise Price: $666.25
2.0%
SPDR S&P 500 ETF Trust, Expiration: 09/30/2026; Exercise Price: $566.25 (Short)
-0.7%
SPDR S&P 500 ETF Trust, Expiration: 09/30/2026; Exercise Price: $745.06 (Short)
-2.8%
* Percentages are stated as a percent of net assets.
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit https://www.paceretfs.com/.
HOUSEHOLDING
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Pacer Advisors, Inc. documents not be householded, please contact Pacer Advisors, Inc. at 877-337-0500, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Pacer Advisors, Inc. or your financial intermediary.
Pacer Swan SOS Moderate (October) ETF  PAGE 1  TSR-SAR-69374H485
 
image
Pacer US Cash Cows Bond ETF
image
MILK (Principal U.S. Listing Exchange: CBOE)
Semi-Annual Shareholder Report | April 30, 2026
This semi-annual shareholder report contains important information about the Pacer US Cash Cows Bond ETF for the period of November 1, 2025, to April 30, 2026. You can find additional information about the Fund at https://www.paceretfs.com/. You can also request this information by contacting us at 877-337-0500.
WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS? (based on a hypothetical $10,000 investment)
Fund Name
Costs of a $10,000 investment
Costs paid as a percentage of a $10,000 investment*
Pacer US Cash Cows Bond ETF
$24
0.49%
* Annualized
KEY FUND STATISTICS (as of April 30, 2026)
Net Assets
$16,590,329
Portfolio Turnover
6%
Number of Holdings
102
30-Day SEC Yield
5.48%
Net Advisory Fee
$26,544
30-Day SEC Yield Unsubsidized
5.48%
WHAT DID THE FUND INVEST IN? (as of April 30, 2026)*
Top 10 Issuers
(%)
Occidental Petroleum Corp.
4.1%
Expand Energy Corp.
4.0%
Pilgrim’s Pride Corp.
4.0%
Altria Group, Inc.
3.9%
HCA, Inc.
3.8%
TransDigm, Inc.
3.5%
Organon & Co. / Organon Foreign Debt Co.-Issuer BV
3.4%
Kraft Heinz Foods Co.
3.4%
Ford Motor Credit Co. LLC
3.0%
Diamondback Energy, Inc.
3.0%
Top Sectors
(%)
Energy
20.2%
Health Care
19.2%
Consumer Discretionary
16.6%
Consumer Staples
16.1%
Information Technology
15.1%
Communication Services
5.6%
Industrials
3.5%
Cash & Other
3.7%
* Percentages are stated as a percent of net assets.
For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code or visit https://www.paceretfs.com/.
HOUSEHOLDING
To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Pacer Advisors, Inc. documents not be householded, please contact Pacer Advisors, Inc. at 877-337-0500, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Pacer Advisors, Inc. or your financial intermediary.
Pacer US Cash Cows Bond ETF  PAGE 1  TSR-SAR-69374H279
 
 2026-05-14216751_PacerActiveAlphaIndiaQualityETF_TF_TSRSemiAnnual

 
Pacer Funds
Pacer ActiveAlpha India Quality ETF Ticker: INDQ
Pacer American Energy Infrastructure ETF Ticker: USAI
Pacer BlueStar Digital Entertainment ETF Ticker: ODDS
Pacer Bluestar Engineering the Future ETF Ticker: BULD
Pacer Cash Cowz 100-Nasdaq 100 Rotator ETF Ticker: QQWZ
Pacer Developed Markets Cash Cows Growth Leaders ETF Ticker: EAFG
Pacer Metaurus Nasdaq 100 Dividend Multiplier 600 ETF Ticker: QSIX
Pacer Metaurus US Large Cap Dividend Multiplier 400 ETF Ticker: QDPL
Pacer PE/VC ETF Ticker: PEVC
Pacer S&P 500 Quality FCF Aristocrats ETF Ticker: LCOW
Pacer S&P 500 Quality FCF High Dividend ETF Ticker: QFHD
Pacer S&P 500 Quality FCF R&D Leaders ETF Ticker: QFRD
Pacer S&P MidCap 400 Quality FCF Aristocrats ETF Ticker: MCOW
Pacer S&P SmallCap 600 Quality FCF Aristocrats ETF Ticker: SCOW
Pacer Solactive Whitney Future of Warfare ETF Ticker: FOWF
Pacer Swan SOS Conservative (April) ETF Ticker: PSCW
Pacer Swan SOS Conservative (January) ETF Ticker: PSCX
Pacer Swan SOS Conservative (July) ETF Ticker: PSCJ
Pacer Swan SOS Conservative (October) ETF Ticker: PSCQ
Pacer Swan SOS Flex (April) ETF Ticker: PSFM
Pacer Swan SOS Flex (January) ETF Ticker: PSFD
Pacer Swan SOS Flex (July) ETF Ticker: PSFJ
Pacer Swan SOS Flex (October) ETF Ticker: PSFO
Pacer Swan SOS Fund of Funds ETF Ticker: PSFF
Pacer Swan SOS Moderate (April) ETF Ticker: PSMR
Pacer Swan SOS Moderate (January) ETF Ticker: PSMD
Pacer Swan SOS Moderate (July) ETF Ticker: PSMJ
Pacer Swan SOS Moderate (October) ETF Ticker: PSMO
Pacer US Cash Cows Bond ETF Ticker: MILK
Core Financial Statements
April 30, 2026
TABLE OF CONTENTS
 
 
 
 
 
 
 
Page
Schedule of Investments
 
 
1
Statements of Assets and Liabilities
 
 
61
Statements of Operations
 
 
67
Statements of Changes in Net Assets
 
 
73
Financial Highlights
 
 
87
Notes to Financial Statements
 
 
116
Additional Information
 
 
149
 
 
 
 

TABLE OF CONTENTS

Pacer ActiveAlpha India Quality ETF
Schedule of Investments
April 30, 2026 (Unaudited)
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
COMMON STOCKS - 100.0%
 
 
 
 
Communication Services - 4.5%
 
 
 
 
Indus Towers Ltd.(a)
 
 
10,997
 
 
$47,498
Consumer Discretionary - 20.6%
 
 
 
 
Bajaj Auto Ltd.
 
 
312
 
 
32,852
Eicher Motors Ltd.
 
 
690
 
 
51,681
Hero MotoCorp Ltd.
 
 
909
 
 
48,834
Maruti Suzuki India Ltd.
 
 
223
 
 
31,281
Titan Co. Ltd.
 
 
1,149
 
 
53,086
 
 
 
 
217,734
Consumer Staples - 12.3%
 
 
 
 
Avenue Supermarts Ltd.(a)(b)
 
 
655
 
 
31,648
Britannia Industries Ltd.
 
 
511
 
 
30,828
Marico Ltd.
 
 
3,751
 
 
30,628
Nestle India Ltd.
 
 
2,386
 
 
36,667
 
 
 
 
129,771
Energy - 3.0%
 
 
 
 
Coal India Ltd.
 
 
6,257
 
 
31,739
Financials - 13.1%
 
 
 
 
AU Small Finance Bank Ltd.(b)
 
 
3,253
 
 
34,820
Bank of Maharashtra
 
 
44,060
 
 
36,380
Canara Bank
 
 
22,175
 
 
31,459
Nippon Life India Asset Management Ltd.(b)
 
 
3,384
 
 
36,008
 
 
 
 
138,667
Health Care - 16.1%
 
 
 
 
Alkem Laboratories Ltd.
 
 
443
 
 
25,204
Dr Lal PathLabs Ltd.(b)
 
 
2,124
 
 
30,596
Dr Reddy's Laboratories Ltd.
 
 
3,750
 
 
52,267
JB Chemicals & Pharmaceuticals Ltd.
 
 
1,380
 
 
29,710
Natco Pharma Ltd.
 
 
2,830
 
 
32,671
 
 
 
 
170,448
Industrials - 16.8%
 
 
 
 
Astral Ltd.
 
 
2,917
 
 
47,012
Cummins India Ltd.
 
 
612
 
 
33,958
Polycab India Ltd.
 
 
395
 
 
33,753
Timken India Ltd.
 
 
694
 
 
25,071
Zen Technologies Ltd.
 
 
2,115
 
 
37,238
 
 
 
 
177,032
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
Materials - 13.6%
 
 
 
 
APL Apollo Tubes Ltd.
 
 
1,419
 
 
$28,481
Hindustan Copper Ltd.
 
 
5,724
 
 
32,255
National Aluminium Co. Ltd.
 
 
11,583
 
 
48,729
NMDC Ltd.
 
 
35,826
 
 
34,111
 
 
 
 
143,576
TOTAL COMMON STOCKS
(Cost $986,142)
 
 
 
 
1,056,465
TOTAL INVESTMENTS - 100.0%
(Cost $986,142)
 
 
 
 
$1,056,465
Liabilities in Excess of Other
Assets - (0.0)%(c)
 
 
 
 
(194)
TOTAL NET ASSETS - 100.0%
 
 
 
 
$1,056,271
 
 
 
 
 
 
 
Percentages are stated as a percent of net assets.
The Global Industry Classification Standard (“GICS®”) was developed by and/or is the exclusive property of MSCI, Inc. (“MSCI”) and Standard & Poor’s Financial Services LLC (“S&P”). GICS® is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services.
(a)
Non-income producing security.
(b)
Security is exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may only be resold in transactions exempt from registration to qualified institutional investors. As of April 30, 2026, the value of these securities total $133,072 or 12.6% of the Fund’s net assets.
(c)
Represents less than 0.05% of net assets.
The accompanying notes are an integral part of these financial statements.
 
1
 

TABLE OF CONTENTS

Pacer American Energy Infrastructure ETF
Schedule of Investments
April 30, 2026 (Unaudited)
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
COMMON STOCKS - 99.8%
 
 
 
 
Energy - 99.8%(a)
 
 
 
 
Antero Midstream Corp.(b)
 
 
79,781
 
 
$1,744,013
Antero Resources Corp.(c)
 
 
32,132
 
 
1,261,502
Archrock, Inc.
 
 
46,436
 
 
1,799,395
BKV Corp.(c)
 
 
2,910
 
 
91,752
Cheniere Energy, Inc.
 
 
27,183
 
 
7,473,966
CNX Resources Corp.(c)
 
 
15,591
 
 
606,646
Comstock Resources, Inc.(c)
 
 
8,665
 
 
150,944
Coterra Energy, Inc.
 
 
82,952
 
 
2,978,806
DT Midstream, Inc.(b)
 
 
18,312
 
 
2,709,993
Enbridge, Inc.
 
 
144,038
 
 
7,988,974
Energy Transfer LP
 
 
409,492
 
 
8,267,643
Enterprise Products Partners LP
 
 
204,805
 
 
7,925,954
EQT Corp.
 
 
68,235
 
 
4,099,559
Excelerate Energy, Inc. - Class A
 
 
32,224
 
 
1,124,618
Expand Energy Corp.
 
 
26,041
 
 
2,660,088
Genesis Energy LP
 
 
34,974
 
 
608,198
Gibson Energy, Inc.
 
 
65,155
 
 
1,426,997
Gulfport Energy Corp.(c)
 
 
1,713
 
 
329,821
Hess Midstream LP - Class A
 
 
39,292
 
 
1,536,317
Keyera Corp.
 
 
50,812
 
 
1,963,127
Kinder Morgan, Inc.
 
 
135,727
 
 
4,461,346
Kinetik Holdings, Inc.(b)
 
 
27,132
 
 
1,371,251
Kodiak Gas Services, Inc.
 
 
26,299
 
 
1,783,072
MPLX LP
 
 
59,859
 
 
3,368,266
NextDecade Corp.(b)(c)
 
 
416,267
 
 
3,259,371
ONEOK, Inc.(b)
 
 
50,886
 
 
4,704,920
Pembina Pipeline Corp.
 
 
84,734
 
 
3,944,293
Plains GP Holdings LP - Class A
 
 
64,146
 
 
1,568,370
Range Resources Corp.
 
 
25,947
 
 
1,128,695
Targa Resources Corp.
 
 
19,079
 
 
4,962,066
TC Energy Corp.
 
 
117,160
 
 
7,855,805
Venture Global, Inc. - Class A(b)
 
 
279,844
 
 
3,713,530
Western Midstream Partners LP(b)
 
 
42,811
 
 
1,861,422
Williams Cos., Inc.
 
 
106,051
 
 
8,092,752
TOTAL COMMON STOCKS
(Cost $80,176,208)
 
 
 
 
108,823,472
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Units
 
 
Value
SHORT-TERM INVESTMENTS
 
 
 
 
INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 13.4%
 
 
 
 
Mount Vernon Liquid Assets Portfolio,
LLC, 3.77%(d)
 
 
14,616,236
 
 
$14,616,236
TOTAL INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING
(Cost $14,616,236)
 
 
 
 
14,616,236
TOTAL INVESTMENTS - 113.2%
(Cost $94,792,444)
 
 
 
 
$123,439,708
Liabilities in Excess of Other
Assets - (13.2)%
 
 
 
 
(14,382,459)
TOTAL NET ASSETS - 100.0%
 
 
 
 
$109,057,249
 
 
 
 
 
 
 
Percentages are stated as a percent of net assets.
LLC - Limited Liability Company
LP - Limited Partnership
The Global Industry Classification Standard (“GICS®”) was developed by and/or is the exclusive property of MSCI, Inc. (“MSCI”) and Standard & Poor’s Financial Services LLC (“S&P”). GICS® is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services.
(a)
To the extent that the Fund invests more heavily in a particular industry or sector of the economy, its performance will be especially sensitive to developments that significantly affect those industries or sectors.
(b)
All or a portion of this security is on loan as of April 30, 2026. The fair value of these securities was $14,550,785.
(c)
Non-income producing security.
(d)
The rate shown represents the 7-day annualized yield as of April 30, 2026.
The accompanying notes are an integral part of these financial statements.
 
2
 

TABLE OF CONTENTS

Pacer BlueStar Digital Entertainment ETF
Schedule of Investments
April 30, 2026 (Unaudited)
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
COMMON STOCKS - 99.8%
 
 
 
 
Communication Services - 42.2%(a)
 
Capcom Co. Ltd.
 
 
2,589
 
 
$54,571
CD Projekt SA
 
 
737
 
 
55,964
China Ruyi Holdings Ltd.(b)
 
 
180,974
 
 
33,729
Electronic Arts, Inc.
 
 
616
 
 
124,660
Hacksaw AB(b)
 
 
11,158
 
 
102,271
International Games System Co. Ltd.
 
 
2,428
 
 
57,320
Kingsoft Corp. Ltd.
 
 
14,198
 
 
41,323
Koei Tecmo Holdings Co. Ltd.
 
 
3,471
 
 
34,044
Konami Group Corp.
 
 
518
 
 
62,475
Krafton, Inc.
 
 
313
 
 
55,923
NC Corp.
 
 
293
 
 
53,436
NetEase, Inc. - ADR
 
 
1,269
 
 
149,120
Nexon Co. Ltd.
 
 
2,464
 
 
41,550
Nintendo Co. Ltd.
 
 
3,106
 
 
152,362
Pearl Abyss Corp.(b)
 
 
1,001
 
 
39,751
ROBLOX Corp. - Class A(b)
 
 
1,919
 
 
106,044
Square Enix Holdings Co. Ltd.
 
 
2,636
 
 
41,330
Take-Two Interactive Software, Inc.(b)
 
 
490
 
 
104,742
Tencent Holdings Ltd.
 
 
4,479
 
 
267,468
Vivendi SE
 
 
18,553
 
 
43,201
XD, Inc.
 
 
4,723
 
 
37,621
 
 
 
 
1,658,905
Consumer Discretionary - 54.7%(a)
 
 
 
Aristocrat Leisure Ltd.
 
 
2,399
 
 
81,547
Bandai Namco Holdings, Inc.
 
 
2,636
 
 
60,944
Betsson AB
 
 
8,090
 
 
82,108
Better Collective AS(b)
 
 
2,843
 
 
43,696
DraftKings, Inc.(b)
 
 
12,357
 
 
288,165
Entain PLC
 
 
21,831
 
 
161,258
Evoke PLC(b)
 
 
61,471
 
 
32,451
Evolution AB(c)
 
 
5,079
 
 
352,657
Flutter Entertainment PLC(b)
 
 
2,883
 
 
311,162
GameStop Corp.(b)(d)
 
 
2,468
 
 
61,577
Genius Sports Ltd.(b)
 
 
15,314
 
 
66,769
Jumbo Interactive Ltd.
 
 
8,239
 
 
43,833
Kambi Group PLC(b)
 
 
3,972
 
 
68,691
Playtech PLC
 
 
18,836
 
 
93,422
PointsBet Holdings Ltd.(b)
 
 
995
 
 
730
Rank Group PLC
 
 
25,892
 
 
33,530
Rush Street Interactive, Inc.(b)
 
 
5,040
 
 
141,624
Sportradar Group AG(b)
 
 
6,234
 
 
81,354
Super Group SGHC Ltd.
 
 
11,065
 
 
143,402
 
 
 
 
2,148,920
Information Technology - 2.9%
 
Micro-Star International Co. Ltd.
 
 
14,681
 
 
45,269
Unity Software, Inc.(b)
 
 
2,634
 
 
69,591
 
 
 
 
114,860
TOTAL COMMON STOCKS
(Cost $4,762,376)
 
 
 
 
3,922,685
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Units
 
 
Value
SHORT-TERM INVESTMENTS
INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 1.5%
 
 
 
 
Mount Vernon Liquid Assets Portfolio,
LLC, 3.77%(e)
 
 
59,009
 
 
$59,009
TOTAL INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING
(Cost$59,009)
 
 
 
 
59,009
TOTAL INVESTMENTS - 101.3%
(Cost $4,821,385)
 
 
 
 
$3,981,694
Liabilities in Excess of Other
Assets - (1.3)%
 
 
 
 
(52,116)
TOTAL NET ASSETS - 100.0%
 
 
 
 
$3,929,578
 
 
 
 
 
 
 
Percentages are stated as a percent of net assets.
ADR - American Depositary Receipt
LLC - Limited Liability Company
PLC - Public Limited Company
The Global Industry Classification Standard (“GICS®”) was developed by and/or is the exclusive property of MSCI, Inc. (“MSCI”) and Standard & Poor’s Financial Services LLC (“S&P”). GICS® is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services.
(a)
To the extent that the Fund invests more heavily in a particular industry or sector of the economy, its performance will be especially sensitive to developments that significantly affect those industries or sectors.
(b)
Non-income producing security.
(c)
Security is exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may only be resold in transactions exempt from registration to qualified institutional investors. As of April 30, 2026, the value of these securities total $352,657 or 9.0% of the Fund’s net assets.
(d)
All or a portion of this security is on loan as of April 30, 2026. The fair value of these securities was $58,308.
(e)
The rate shown represents the 7-day annualized yield as of
April 30, 2026.
The accompanying notes are an integral part of these financial statements.
 
3
 

TABLE OF CONTENTS

Pacer BlueStar Engineering the Future ETF
Schedule of Investments
April 30, 2026 (Unaudited)
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
COMMON STOCKS - 99.8%
 
 
 
 
Consumer Discretionary - 0.8%
 
 
 
 
Denso Corp.
 
 
3,154
 
 
$37,889
Energy - 0.2%
 
 
 
 
Oceaneering International, Inc.(a)
 
 
290
 
 
10,887
Health Care - 0.7%
 
 
 
 
BICO Group AB(a)
 
 
14,496
 
 
33,686
Industrials - 30.9%(b)
 
 
 
 
3D Systems Corp.(a)
 
 
95,513
 
 
234,962
Amada Co. Ltd.
 
 
819
 
 
13,740
ANDRITZ AG
 
 
170
 
 
14,418
ATS Corp.(a)
 
 
273
 
 
8,859
Daifuku Co. Ltd.
 
 
632
 
 
27,344
Emerson Electric Co.
 
 
764
 
 
107,296
FANUC Corp.
 
 
1,112
 
 
48,786
IMI PLC
 
 
496
 
 
18,818
Kadant, Inc.
 
 
26
 
 
7,621
Konecranes Oyj
 
 
480
 
 
15,732
Krones AG
 
 
54
 
 
7,817
Lincoln Electric Holdings, Inc.
 
 
91
 
 
24,115
Nano Dimension Ltd. - ADR(a)
 
 
107,043
 
 
185,184
Proto Labs, Inc.(a)
 
 
6,460
 
 
418,673
Rockwell Automation, Inc.
 
 
152
 
 
62,154
Stratasys Ltd.(a)
 
 
31,848
 
 
282,492
Symbotic, Inc.(a)(c)
 
 
145
 
 
8,570
UBTech Robotics Corp. Ltd. - Class H(a)
 
 
800
 
 
10,825
Yaskawa Electric Corp.
 
 
435
 
 
15,323
 
 
 
 
1,512,729
Information Technology - 67.2%(b)
 
 
 
 
Advantest Corp.
 
 
516
 
 
93,055
Amkor Technology, Inc.
 
 
202
 
 
14,090
Applied Materials, Inc.
 
 
1,025
 
 
404,352
Argo Graphics, Inc.
 
 
7,094
 
 
60,933
ASM International NV
 
 
70
 
 
68,203
ASML Holding NV(c)
 
 
302
 
 
434,575
Autodesk, Inc.(a)
 
 
1,129
 
 
267,573
Axcelis Technologies, Inc.(a)
 
 
89
 
 
12,381
Azbil Corp.
 
 
1,138
 
 
10,123
BE Semiconductor Industries NV
 
 
130
 
 
37,697
Belden, Inc.(c)
 
 
82
 
 
9,223
Bentley Systems, Inc. - Class B(c)
 
 
3,172
 
 
103,471
Camtek Ltd.(a)(c)
 
 
81
 
 
15,546
Dassault Systemes SE
 
 
7,104
 
 
159,125
Disco Corp.
 
 
128
 
 
60,453
Keyence Corp.
 
 
314
 
 
142,868
KLA Corp.
 
 
154
 
 
269,554
Kokusai Electric Corp.
 
 
329
 
 
13,391
Kulicke & Soffa Industries, Inc.
 
 
164
 
 
14,022
Lam Research Corp.
 
 
1,597
 
 
411,802
Lasertec Corp.
 
 
146
 
 
39,774
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
Materialise NV - ADR(a)
 
 
9,428
 
 
$51,760
Nemetschek SE
 
 
1,285
 
 
93,155
Nova Ltd.(a)(c)
 
 
41
 
 
20,518
Omron Corp.
 
 
427
 
 
15,186
Onto Innovation, Inc.(a)
 
 
89
 
 
26,260
PTC, Inc.(a)
 
 
1,084
 
 
147,749
Renishaw PLC
 
 
163
 
 
10,485
SCREEN Holdings Co. Ltd.
 
 
326
 
 
21,282
Teradyne, Inc.
 
 
213
 
 
73,159
Tokyo Electron Ltd.
 
 
539
 
 
152,683
Tokyo Seimitsu Co. Ltd.
 
 
112
 
 
12,243
Yokogawa Electric Corp.
 
 
425
 
 
14,816
 
 
 
 
3,281,507
TOTAL COMMON STOCKS
(Cost $4,086,182)
 
 
 
 
4,876,698
 
 
Units
 
 
SHORT-TERM INVESTMENTS
 
 
INVESTMENTS PURCHASED WITH
PROCEEDS FROM SECURITIES
LENDING - 5.5%
 
 
Mount Vernon Liquid Assets Portfolio,
LLC, 3.77%(d)
 
 
267,361
 
 
267,361
TOTAL INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING
(Cost $267,361)
 
 
 
 
267,361
TOTAL INVESTMENTS - 105.3%
(Cost $4,353,543)
 
 
 
 
$5,144,059
Liabilities in Excess of Other
Assets - (5.3)%
 
 
 
 
(259,052)
TOTAL NET ASSETS - 100.0%
 
 
 
 
$4,885,007
 
 
 
 
 
 
 
Percentages are stated as a percent of net assets.
ADR - American Depositary Receipt
LLC - Limited Liability Company
PLC - Public Limited Company
The Global Industry Classification Standard (“GICS®”) was developed by and/or is the exclusive property of MSCI, Inc. (“MSCI”) and Standard & Poor’s Financial Services LLC (“S&P”). GICS® is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services.
(a)
Non-income producing security.
(b)
To the extent that the Fund invests more heavily in a particular industry or sector of the economy, its performance will be especially sensitive to developments that significantly affect those industries or sectors.
(c)
All or a portion of this security is on loan as of April 30, 2026. The fair value of these securities was $265,049.
(d)
The rate shown represents the 7-day annualized yield as of
April 30, 2026.
The accompanying notes are an integral part of these financial statements.
 
4
 

TABLE OF CONTENTS

Pacer Cash COWZ 100-Nasdaq 100 Rotator ETF
Schedule of Investments
April 30, 2026 (Unaudited)
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
COMMON STOCKS - 99.1%
 
 
 
 
Communication Services - 14.9%
 
 
 
 
Alphabet, Inc. - Class A
 
 
3,115
 
 
$1,198,652
Alphabet, Inc. - Class C
 
 
2,908
 
 
1,110,682
Charter Communications, Inc. - Class A(a)
 
 
188
 
 
31,052
Comcast Corp. - Class A
 
 
5,328
 
 
144,069
Electronic Arts, Inc.
 
 
372
 
 
75,282
Meta Platforms, Inc. - Class A
 
 
1,576
 
 
964,370
Netflix, Inc.(a)
 
 
6,269
 
 
586,841
Take-Two Interactive Software, Inc.(a)
 
 
275
 
 
58,784
T-Mobile US, Inc.
 
 
1,636
 
 
319,838
Warner Bros Discovery, Inc.(a)
 
 
3,682
 
 
99,598
 
 
 
 
4,589,168
Consumer Discretionary - 12.1%
 
 
 
 
Airbnb, Inc. - Class A(a)
 
 
629
 
 
88,287
Amazon.com, Inc.(a)
 
 
5,750
 
 
1,524,095
Booking Holdings, Inc.
 
 
1,176
 
 
197,991
DoorDash, Inc. - Class A(a)
 
 
609
 
 
102,708
Marriott International, Inc. - Class A
 
 
393
 
 
142,144
MercadoLibre, Inc.(a)
 
 
75
 
 
134,447
O'Reilly Automotive, Inc.(a)
 
 
1,245
 
 
123,753
PDD Holdings, Inc. - ADR(a)
 
 
992
 
 
99,081
Ross Stores, Inc.
 
 
480
 
 
109,339
Starbucks Corp.
 
 
1,691
 
 
178,113
Tesla Motors, Inc.(a)
 
 
2,668
 
 
1,018,189
 
 
 
 
3,718,147
Consumer Staples - 7.6%
 
 
 
 
Coca-Cola Europacific Partners PLC
 
 
680
 
 
64,308
Costco Wholesale Corp.
 
 
659
 
 
668,575
Keurig Dr Pepper, Inc.
 
 
2,017
 
 
59,300
Mondelez International, Inc. - Class A
 
 
1,903
 
 
116,920
Monster Beverage Corp.(a)
 
 
1,452
 
 
111,906
PepsiCo, Inc.
 
 
2,029
 
 
321,576
The Kraft Heinz Co.
 
 
1,757
 
 
39,814
Walmart, Inc.
 
 
7,210
 
 
951,215
 
 
 
 
2,333,614
Energy - 0.6%
 
 
 
 
Baker Hughes Co.
 
 
1,467
 
 
102,206
Diamondback Energy, Inc.
 
 
419
 
 
86,159
 
 
 
 
188,365
Financials - 0.2%
 
 
 
 
PayPal Holdings, Inc.
 
 
1,367
 
 
68,541
Health Care - 4.2%
 
 
 
 
Alnylam Pharmaceuticals, Inc.(a)
 
 
197
 
 
60,970
Amgen, Inc.
 
 
800
 
 
277,000
DexCom, Inc.(a)
 
 
571
 
 
34,003
GE HealthCare Technologies, Inc.
 
 
677
 
 
41,189
Gilead Sciences, Inc.
 
 
1,843
 
 
241,138
IDEXX Laboratories, Inc.(a)
 
 
118
 
 
66,174
Insmed, Inc.(a)
 
 
320
 
 
43,626
Intuitive Surgical, Inc.(a)
 
 
527
 
 
241,160
Regeneron Pharmaceuticals, Inc.
 
 
154
 
 
108,887
Vertex Pharmaceuticals, Inc.(a)
 
 
377
 
 
161,122
 
 
 
 
1,275,269
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
Industrials - 3.6%
 
 
 
 
Automatic Data Processing, Inc.
 
 
598
 
 
$126,740
Axon Enterprise, Inc.(a)
 
 
119
 
 
47,809
Cintas Corp.
 
 
594
 
 
103,778
Copart, Inc.(a)
 
 
1,437
 
 
47,579
CSX Corp.
 
 
2,761
 
 
125,432
Fastenal Co.
 
 
1,705
 
 
76,606
Ferrovial SE
 
 
1,068
 
 
73,596
Honeywell International, Inc.
 
 
944
 
 
202,328
Old Dominion Freight Line, Inc.
 
 
309
 
 
65,641
PACCAR, Inc.
 
 
781
 
 
92,783
Paychex, Inc.
 
 
533
 
 
49,372
Thomson Reuters Corp.
 
 
660
 
 
63,155
Verisk Analytics, Inc.
 
 
205
 
 
37,820
 
 
 
 
1,112,639
Information Technology - 53.3%(b)
 
 
 
 
Adobe, Inc.(a)
 
 
605
 
 
148,890
Advanced Micro Devices, Inc.(a)
 
 
2,403
 
 
851,839
Analog Devices, Inc.
 
 
725
 
 
291,638
Apple, Inc.
 
 
7,873
 
 
2,136,339
Applied Materials, Inc.
 
 
1,178
 
 
464,709
AppLovin Corp. - Class A(a)
 
 
456
 
 
203,536
ARM Holdings PLC - ADR(a)
 
 
207
 
 
43,536
ASML Holding NV
 
 
131
 
 
188,508
Autodesk, Inc.(a)
 
 
315
 
 
74,655
Broadcom, Inc.
 
 
2,535
 
 
1,058,185
Cadence Design System, Inc.(a)
 
 
410
 
 
135,132
Cisco Systems, Inc.
 
 
5,864
 
 
536,556
Cognizant Technology Solutions Corp. - Class A
 
 
710
 
 
37,559
Crowdstrike Holdings, Inc. - Class A(a)
 
 
374
 
 
166,710
Datadog, Inc. - Class A(a)
 
 
488
 
 
64,509
Fortinet, Inc.(a)
 
 
1,099
 
 
92,657
Intel Corp.(a)
 
 
7,416
 
 
700,664
Intuit, Inc.
 
 
411
 
 
159,673
KLA Corp.
 
 
195
 
 
341,318
Lam Research Corp.
 
 
1,854
 
 
478,072
Marvell Technology, Inc.
 
 
1,293
 
 
213,539
Microchip Technology, Inc.
 
 
803
 
 
74,607
Micron Technology, Inc.
 
 
1,659
 
 
857,968
Microsoft Corp.
 
 
3,978
 
 
1,622,149
Monolithic Power Systems, Inc.
 
 
73
 
 
117,852
NVIDIA Corp.
 
 
13,038
 
 
2,601,994
NXP Semiconductors NV
 
 
375
 
 
110,096
Palantir Technologies, Inc. - Class A(a)
 
 
3,402
 
 
473,252
Palo Alto Networks, Inc.(a)
 
 
1,211
 
 
217,157
QUALCOMM, Inc.
 
 
1,584
 
 
284,455
Roper Technologies, Inc.
 
 
153
 
 
54,286
Sandisk Corp.(a)
 
 
219
 
 
240,136
Seagate Technology Holdings PLC
 
 
324
 
 
218,259
Shopify, Inc. - Class A(a)
 
 
1,820
 
 
220,457
Strategy, Inc. - Class A(a)
 
 
466
 
 
77,100
Synopsys, Inc.(a)
 
 
284
 
 
137,058
Texas Instruments, Inc.
 
 
1,347
 
 
378,615
Western Digital Corp.
 
 
503
 
 
218,564
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
5
 

TABLE OF CONTENTS

Pacer Cash COWZ 100-Nasdaq 100 Rotator ETF
Schedule of Investments
April 30, 2026 (Unaudited)(Continued)
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
COMMON STOCKS - (Continued)
 
 
 
 
Information Technology - (Continued)
 
 
 
 
Workday, Inc. - Class A(a)
 
 
316
 
 
$38,678
Zscaler, Inc.(a)
 
 
239
 
 
31,233
 
 
 
 
16,362,140
Materials - 1.1%
 
 
 
 
Linde PLC
 
 
688
 
 
344,784
Real Estate - 0.1%
 
 
 
 
CoStar Group, Inc.(a)
 
 
623
 
 
21,562
Utilities - 1.4%
 
 
 
 
American Electric Power Co., Inc.
 
 
803
 
 
110,099
Constellation Energy Corp.
 
 
537
 
 
168,081
Exelon Corp.
 
 
1,519
 
 
69,859
Xcel Energy, Inc.
 
 
926
 
 
76,812
 
 
 
 
424,851
TOTAL COMMON STOCKS
(Cost $30,347,715)
 
 
 
 
30,439,080
TOTAL INVESTMENTS - 99.1%
(Cost $30,347,715)
 
 
 
 
$30,439,080
Other Assets in Excess of
Liabilities - 0.9%
 
 
 
 
279,146
TOTAL NET ASSETS - 100.0%
 
 
 
 
$30,718,226
 
 
 
 
 
 
 
Percentages are stated as a percent of net assets.
ADR - American Depositary Receipt
PLC - Public Limited Company
The Global Industry Classification Standard (“GICS®”) was developed by and/or is the exclusive property of MSCI, Inc. (“MSCI”) and Standard & Poor’s Financial Services LLC (“S&P”). GICS® is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services.
(a)
Non-income producing security.
(b)
To the extent that the Fund invests more heavily in a particular industry or sector of the economy, its performance will be especially sensitive to developments that significantly affect those industries or sectors.
The accompanying notes are an integral part of these financial statements.
 
6
 

TABLE OF CONTENTS

Pacer Developed Markets Cash Cows Growth Leaders ETF
Schedule of Investments
April 30, 2026 (Unaudited)
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
COMMON STOCKS - 99.3%
 
 
 
 
Australia - 7.8%
 
 
 
 
Aristocrat Leisure Ltd.
 
 
292
 
 
$9,939
BHP Group Ltd.
 
 
994
 
 
38,444
CAR Group Ltd.
 
 
508
 
 
9,279
Computershare Ltd.
 
 
559
 
 
12,146
CSL Ltd.
 
 
97
 
 
8,685
Evolution Mining Ltd.
 
 
6,689
 
 
57,307
Fortescue Ltd.
 
 
1,616
 
 
22,861
Pro Medicus Ltd.
 
 
81
 
 
7,838
REA Group Ltd.
 
 
79
 
 
9,660
Transurban Group
 
 
1,653
 
 
16,661
WiseTech Global Ltd.
 
 
207
 
 
6,367
 
 
 
 
199,187
Belgium - 2.1%
 
 
 
 
Anheuser-Busch InBev SA
 
 
373
 
 
28,193
UCB SA
 
 
90
 
 
24,421
 
 
 
 
52,614
China - 1.6%
 
 
 
 
Yangzijiang Shipbuilding Holdings Ltd.
 
 
11,887
 
 
40,252
Denmark - 1.7%
 
 
 
 
Genmab AS(a)
 
 
78
 
 
20,703
Novonesis Novozymes B
 
 
229
 
 
14,059
Pandora AS
 
 
107
 
 
8,130
 
 
 
 
42,892
Finland - 1.6%
 
 
 
 
Wartsila OYJ Abp
 
 
977
 
 
40,993
France - 2.6%
 
 
 
 
Dassault Systemes SE
 
 
436
 
 
9,771
Hermes International SCA
 
 
6
 
 
11,432
L'Oreal SA
 
 
34
 
 
14,607
LVMH Moet Hennessy Louis Vuitton SE
 
 
29
 
 
15,364
Sanofi SA
 
 
158
 
 
14,802
 
 
 
 
65,976
Germany - 0.9%
 
 
 
 
Deutsche Telekom AG
 
 
460
 
 
14,885
SAP SE
 
 
50
 
 
8,538
 
 
 
 
23,423
Hong Kong - 2.5%
 
 
 
 
CK Infrastructure Holdings Ltd.
 
 
3,077
 
 
25,810
Galaxy Entertainment Group Ltd.
 
 
3,048
 
 
12,904
Power Assets Holdings Ltd.
 
 
3,082
 
 
25,400
 
 
 
 
64,114
Ireland - 0.4%
 
 
 
 
Experian PLC
 
 
262
 
 
9,587
Israel - 0.5%
 
 
 
 
Check Point Software Technologies Ltd.(a)
 
 
63
 
 
7,085
Monday.com Ltd.(a)
 
 
87
 
 
5,731
 
 
 
 
12,816
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
Italy - 2.8%
 
 
 
 
Ferrari NV
 
 
30
 
 
$10,329
Moncler SpA
 
 
337
 
 
20,266
Prysmian SpA
 
 
279
 
 
41,897
 
 
 
 
72,492
Japan - 29.1%(b)
 
 
 
 
Advantest Corp.
 
 
451
 
 
81,411
Astellas Pharma, Inc.
 
 
2,535
 
 
36,141
Capcom Co. Ltd.
 
 
528
 
 
11,140
Chugai Pharmaceutical Co. Ltd.
 
 
637
 
 
33,023
FANUC Corp.
 
 
1,094
 
 
48,042
Hoya Corp.
 
 
176
 
 
32,714
Inpex Corp.
 
 
1,305
 
 
34,593
JX Advanced Metals Corp.
 
 
4,071
 
 
124,557
Keyence Corp.
 
 
44
 
 
20,039
Lasertec Corp.
 
 
313
 
 
85,350
LY Corp.
 
 
4,166
 
 
10,972
Nexon Co. Ltd.
 
 
668
 
 
11,275
Obic Co. Ltd.
 
 
383
 
 
10,180
Recruit Holdings Co. Ltd.
 
 
225
 
 
10,496
Renesas Electronics Corp.
 
 
2,559
 
 
52,502
Sanrio Co. Ltd.
 
 
1,260
 
 
7,364
Shin-Etsu Chemical Co. Ltd.
 
 
658
 
 
30,455
Sony Group Corp.
 
 
541
 
 
10,758
Takeda Pharmaceutical Co. Ltd.
 
 
671
 
 
22,587
Tokyo Electron Ltd.
 
 
245
 
 
69,468
 
 
 
 
743,067
Luxembourg - 1.8%
 
 
 
 
Tenaris SA
 
 
1,463
 
 
46,755
Mexico - 3.1%
 
 
 
 
Fresnillo PLC
 
 
1,790
 
 
78,796
Netherlands - 10.4%
 
 
 
 
Argenx SE(a)
 
 
24
 
 
18,816
ASM International NV
 
 
66
 
 
64,339
ASML Holding NV
 
 
47
 
 
67,430
BE Semiconductor Industries NV
 
 
258
 
 
74,853
Koninklijke KPN NV
 
 
3,929
 
 
21,046
Prosus NV
 
 
229
 
 
11,038
Wolters Kluwer NV
 
 
111
 
 
8,653
 
 
 
 
266,175
New Zealand - 0.3%
 
 
 
 
Xero Ltd.(a)
 
 
130
 
 
7,491
Norway - 1.8%
 
 
 
 
Kongsberg Gruppen ASA
 
 
753
 
 
25,196
Kongsberg Maritime AS(a)
 
 
753
 
 
4,935
Telenor ASA
 
 
1,014
 
 
16,691
 
 
 
 
46,822
Spain - 2.2%
 
 
 
 
Aena SME SA(c)
 
 
577
 
 
15,738
Amadeus IT Holding SA
 
 
156
 
 
8,972
Industria de Diseno Textil SA
 
 
510
 
 
30,275
 
 
 
 
54,985
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
7
 

TABLE OF CONTENTS

Pacer Developed Markets Cash Cows Growth Leaders ETF
Schedule of Investments
April 30, 2026 (Unaudited) (Continued)
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
COMMON STOCKS - (Continued)
 
 
 
 
Sweden - 3.4%
 
 
 
 
Atlas Copco AB - Class A
 
 
1,608
 
 
$30,339
Evolution AB(c)
 
 
155
 
 
10,785
Hexagon AB - Class B
 
 
1,412
 
 
15,177
Spotify Technology SA(a)
 
 
18
 
 
8,038
Tele2 AB - Class B
 
 
1,072
 
 
21,997
 
 
 
 
86,336
Switzerland - 11.1%
 
 
 
 
Alcon AG
 
 
213
 
 
15,871
Cie Financiere Richemont SA
 
 
112
 
 
21,286
Galderma Group AG
 
 
85
 
 
17,819
Geberit AG
 
 
27
 
 
18,218
Givaudan SA
 
 
4
 
 
14,257
Logitech International SA
 
 
134
 
 
13,161
Novartis AG
 
 
188
 
 
27,887
Roche Holding AG
 
 
83
 
 
33,823
Sonova Holding AG
 
 
50
 
 
10,956
Swisscom AG
 
 
30
 
 
25,398
VAT Group AG(c)
 
 
113
 
 
84,314
 
 
 
 
282,990
United Kingdom - 11.6%
 
 
 
 
Airtel Africa PLC(c)
 
 
9,129
 
 
44,049
AstraZeneca PLC
 
 
145
 
 
27,521
Auto Trader Group PLC(c)
 
 
1,294
 
 
8,734
British American Tobacco PLC
 
 
308
 
 
18,118
Haleon PLC
 
 
3,572
 
 
16,526
Halma PLC
 
 
499
 
 
29,924
Imperial Brands PLC
 
 
382
 
 
14,560
Informa PLC
 
 
1,259
 
 
13,579
Next PLC
 
 
107
 
 
18,848
Pearson PLC
 
 
923
 
 
13,583
Reckitt Benckiser Group PLC
 
 
249
 
 
15,843
RELX PLC
 
 
283
 
 
10,328
Rolls-Royce Holdings PLC
 
 
1,441
 
 
23,177
Sage Group PLC
 
 
892
 
 
10,642
Vodafone Group PLC
 
 
18,637
 
 
29,735
 
 
 
 
295,167
TOTAL COMMON STOCKS
(Cost $2,200,498)
 
 
 
 
2,532,930
TOTAL INVESTMENTS - 99.3%
(Cost $2,200,498)
 
 
 
 
$2,532,930
Other Assets in Excess of
Liabilities - 0.7%
 
 
 
 
16,877
TOTAL NET ASSETS - 100.0%
 
 
 
 
$2,549,807
 
 
 
 
 
 
 
Percentages are stated as a percent of net assets.
PLC - Public Limited Company
(a)
Non-income producing security.
(b)
To the extent that the Fund invests a significant portion of its assets in the securities of companies of a single country or region, it is more likely to be impacted by events or conditions affecting such country or region.
(c)
Security is exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may only be resold in transactions exempt from registration to qualified institutional investors. As of April 30, 2026, the value of these securities total $163,620 or 6.4% of the Fund’s net assets.
The accompanying notes are an integral part of these financial statements.
 
8
 

TABLE OF CONTENTS

Pacer Metaurus Nasdaq 100 Dividend Multiplier 600 ETF
Schedule of Investments
April 30, 2026 (Unaudited)
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
COMMON STOCKS - 91.3%
 
 
 
 
Communication Services - 13.8%
 
 
 
 
Alphabet, Inc. - Class A
 
 
1,682
 
 
$647,234
Alphabet, Inc. - Class C
 
 
1,571
 
 
600,028
Charter Communications, Inc. - Class A(a)(b)
 
 
101
 
 
16,682
Comcast Corp. - Class A
 
 
2,862
 
 
77,388
Electronic Arts, Inc.
 
 
201
 
 
40,676
Meta Platforms, Inc. - Class A
 
 
852
 
 
521,347
Netflix, Inc.(a)
 
 
3,368
 
 
315,278
Take-Two Interactive Software, Inc.(a)
 
 
148
 
 
31,637
T-Mobile US, Inc.
 
 
879
 
 
171,845
Warner Bros Discovery, Inc.(a)
 
 
1,978
 
 
53,505
 
 
 
 
2,475,620
Consumer Discretionary - 11.2%
 
 
 
 
Airbnb, Inc. - Class A(a)
 
 
338
 
 
47,442
Amazon.com, Inc.(a)
 
 
3,102
 
 
822,216
Booking Holdings, Inc.
 
 
632
 
 
106,403
DoorDash, Inc. - Class A(a)
 
 
327
 
 
55,148
Marriott International, Inc. - Class A
 
 
211
 
 
76,317
MercadoLibre, Inc.(a)
 
 
40
 
 
71,705
O'Reilly Automotive, Inc.(a)
 
 
669
 
 
66,499
PDD Holdings, Inc. - ADR(a)
 
 
533
 
 
53,236
Ross Stores, Inc.
 
 
258
 
 
58,770
Starbucks Corp.
 
 
909
 
 
95,745
Tesla Motors, Inc.(a)
 
 
1,442
 
 
550,310
 
 
 
 
2,003,791
Consumer Staples - 7.0%
 
 
 
 
Coca-Cola Europacific Partners PLC
 
 
365
 
 
34,518
Costco Wholesale Corp.
 
 
354
 
 
359,144
Keurig Dr Pepper, Inc.(b)
 
 
1,084
 
 
31,870
Mondelez International, Inc. - Class A(b)
 
 
1,022
 
 
62,792
Monster Beverage Corp.(a)
 
 
780
 
 
60,114
PepsiCo, Inc.
 
 
1,090
 
 
172,754
The Kraft Heinz Co.
 
 
944
 
 
21,391
Walmart, Inc.
 
 
3,898
 
 
514,263
 
 
 
 
1,256,846
Energy - 0.6%
 
 
 
 
Baker Hughes Co.
 
 
788
 
 
54,900
Diamondback Energy, Inc.
 
 
226
 
 
46,472
 
 
 
 
101,372
Financials - 0.2%
 
 
 
 
PayPal Holdings, Inc.
 
 
734
 
 
36,803
Health Care - 3.8%
 
 
 
 
Alnylam Pharmaceuticals, Inc.(a)
 
 
106
 
 
32,806
Amgen, Inc.
 
 
430
 
 
148,887
DexCom, Inc.(a)
 
 
307
 
 
18,282
GE HealthCare Technologies, Inc.(b)
 
 
364
 
 
22,146
Gilead Sciences, Inc.
 
 
990
 
 
129,532
IDEXX Laboratories, Inc.(a)(b)
 
 
64
 
 
35,891
Insmed, Inc.(a)(b)
 
 
172
 
 
23,449
Intuitive Surgical, Inc.(a)
 
 
283
 
 
129,504
Regeneron Pharmaceuticals, Inc.
 
 
83
 
 
58,686
Vertex Pharmaceuticals, Inc.(a)
 
 
204
 
 
87,185
 
 
 
 
686,368
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
Industrials - 3.3%
 
 
 
 
Automatic Data Processing, Inc.
 
 
321
 
 
$68,033
Axon Enterprise, Inc.(a)
 
 
64
 
 
25,713
Cintas Corp.
 
 
319
 
 
55,733
Copart, Inc.(a)
 
 
772
 
 
25,561
CSX Corp.
 
 
1,483
 
 
67,373
Fastenal Co.(b)
 
 
916
 
 
41,156
Ferrovial SE
 
 
574
 
 
39,554
Honeywell International, Inc.
 
 
507
 
 
108,665
Old Dominion Freight Line, Inc.
 
 
166
 
 
35,263
PACCAR, Inc.
 
 
419
 
 
49,777
Paychex, Inc.
 
 
286
 
 
26,492
Thomson Reuters Corp.
 
 
355
 
 
33,970
Verisk Analytics, Inc.(b)
 
 
110
 
 
20,294
 
 
 
 
597,584
Information Technology - 49.0%(c)
 
 
 
 
Adobe, Inc.(a)
 
 
325
 
 
79,983
Advanced Micro Devices, Inc.(a)
 
 
1,300
 
 
460,837
Analog Devices, Inc.
 
 
389
 
 
156,479
Apple, Inc.
 
 
4,242
 
 
1,151,067
Applied Materials, Inc.
 
 
633
 
 
249,712
AppLovin Corp. - Class A(a)
 
 
246
 
 
109,802
ARM Holdings PLC - ADR(a)(b)
 
 
111
 
 
23,346
ASML Holding NV
 
 
70
 
 
100,729
Autodesk, Inc.(a)
 
 
169
 
 
40,053
Broadcom, Inc.
 
 
1,370
 
 
571,879
Cadence Design System, Inc.(a)
 
 
220
 
 
72,510
Cisco Systems, Inc.
 
 
3,151
 
 
288,317
Cognizant Technology Solutions Corp. - Class A
 
 
381
 
 
20,155
Crowdstrike Holdings, Inc. - Class A(a)
 
 
202
 
 
90,041
Datadog, Inc. - Class A(a)
 
 
262
 
 
34,634
Fortinet, Inc.(a)
 
 
590
 
 
49,743
Intel Corp.(a)
 
 
3,984
 
 
376,408
Intuit, Inc.
 
 
222
 
 
86,247
KLA Corp.
 
 
105
 
 
183,787
Lam Research Corp.
 
 
996
 
 
256,829
Marvell Technology, Inc.
 
 
695
 
 
114,779
Microchip Technology, Inc.
 
 
434
 
 
40,323
Micron Technology, Inc.
 
 
898
 
 
464,410
Microsoft Corp.
 
 
2,145
 
 
874,688
Monolithic Power Systems, Inc.
 
 
39
 
 
62,962
NVIDIA Corp.
 
 
7,021
 
 
1,401,181
NXP Semiconductors NV
 
 
203
 
 
59,599
Palantir Technologies, Inc. - Class A(a)
 
 
1,828
 
 
254,293
Palo Alto Networks, Inc.(a)
 
 
651
 
 
116,737
QUALCOMM, Inc.
 
 
851
 
 
152,823
Roper Technologies, Inc.
 
 
82
 
 
29,094
Sandisk Corp.(a)
 
 
118
 
 
129,388
Seagate Technology Holdings PLC
 
 
174
 
 
117,213
Shopify, Inc. - Class A(a)
 
 
978
 
 
118,465
Strategy, Inc. - Class A(a)(b)
 
 
252
 
 
41,693
Synopsys, Inc.(a)
 
 
153
 
 
73,838
Texas Instruments, Inc.
 
 
724
 
 
203,502
Western Digital Corp.
 
 
270
 
 
117,320
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
9
 

TABLE OF CONTENTS

Pacer Metaurus Nasdaq 100 Dividend Multiplier 600 ETF
Schedule of Investments
April 30, 2026 (Unaudited)(Continued)
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
COMMON STOCKS - (Continued)
 
 
 
 
Information Technology - (Continued)
 
 
 
 
Workday, Inc. - Class A(a)
 
 
170
 
 
$20,808
Zscaler, Inc.(a)
 
 
128
 
 
16,727
 
 
 
 
8,812,401
Materials - 1.0%
 
 
 
 
Linde PLC
 
 
370
 
 
185,422
Real Estate - 0.1%
 
 
 
 
CoStar Group, Inc.(a)(b)
 
 
335
 
 
11,594
Utilities - 1.3%
 
 
 
 
American Electric Power Co., Inc.
 
 
431
 
 
59,094
Constellation Energy Corp.
 
 
290
 
 
90,770
Exelon Corp.
 
 
816
 
 
37,528
Xcel Energy, Inc.(b)
 
 
498
 
 
41,309
 
 
 
 
228,701
TOTAL COMMON STOCKS
(Cost $13,716,178)
 
 
 
 
16,396,502
 
 
Units
 
 
SHORT-TERM INVESTMENTS
 
 
 
 
INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 1.8%
 
Mount Vernon Liquid Assets Portfolio,
LLC, 3.77%(d)
 
 
331,166
 
 
331,166
TOTAL INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING
(Cost $331,166)
 
 
 
 
331,166
TOTAL INVESTMENTS - 93.1%
(Cost $14,047,344)
 
 
 
 
$16,727,668
Other Assets in Excess of
Liabilities - 6.9%
 
 
 
 
1,240,747
TOTAL NET ASSETS - 100.0%
 
 
 
 
$17,968,415
 
 
 
 
 
 
 
Percentages are stated as a percent of net assets.
ADR - American Depositary Receipt
LLC - Limited Liability Company
PLC - Public Limited Company
The Global Industry Classification Standard (“GICS®”) was developed by and/or is the exclusive property of MSCI, Inc. (“MSCI”) and Standard & Poor’s Financial Services LLC (“S&P”). GICS® is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services.
(a)
Non-income producing security.
(b)
All or a portion of this security is on loan as of April 30, 2026. The fair value of these securities was $330,422.
(c)
To the extent that the Fund invests more heavily in a particular industry or sector of the economy, its performance will be especially sensitive to developments that significantly affect those industries or sectors.
(d)
The rate shown represents the 7-day annualized yield as of April 30, 2026.
The accompanying notes are an integral part of these financial statements.
 
10
 

TABLE OF CONTENTS

Pacer Metaurus Nasdaq 100 Dividend Multiplier 600 ETF
Schedule of Futures Contracts
April 30, 2026 (Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts
Purchased
 
 
Expiration
Date
 
 
Notional
Value
 
 
Value/Unrealized
Appreciation
(Depreciation)
S&P 500 Annual Dividend Index
 
 
34
 
 
12/18/2026
 
 
$ 569,840
 
 
$ (3,333)
S&P 500 Annual Dividend Index
 
 
34
 
 
12/17/2027
 
 
588,200
 
 
5,841
S&P 500 Annual Dividend Index
 
 
34
 
 
12/15/2028
 
 
595,000
 
 
(8,239)
Net Unrealized Appreciation (Depreciation)
 
 
 
 
 
 
 
 
$ (5,731)
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
11
 

TABLE OF CONTENTS

PACER METAURUS US LARGE CAP DIVIDEND MULTIPLIER 400 ETF
SCHEDULE OF INVESTMENTS
April 30, 2026 (Unaudited)
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
COMMON STOCKS - 88.5%
 
 
 
 
Communication Services - 9.9%
 
 
 
 
Alphabet, Inc. - Class A
 
 
132,880
 
 
$51,132,224
Alphabet, Inc. - Class C
 
 
106,740
 
 
40,768,276
AT&T, Inc.
 
 
159,766
 
 
4,174,686
Charter Communications, Inc. - Class A(a)(b)
 
 
1,952
 
 
322,412
Comcast Corp. - Class A
 
 
81,900
 
 
2,214,576
EchoStar Corp. - Class A(a)(b)
 
 
3,060
 
 
376,808
Electronic Arts, Inc.
 
 
5,134
 
 
1,038,968
Fox Corp. - Class A
 
 
4,563
 
 
289,705
Fox Corp. - Class B
 
 
3,216
 
 
183,376
Live Nation Entertainment, Inc.(a)(b)
 
 
3,603
 
 
569,058
Meta Platforms, Inc. - Class A
 
 
49,918
 
 
30,545,323
Netflix, Inc.(a)
 
 
96,361
 
 
9,020,353
News Corp. - Class A
 
 
8,447
 
 
222,325
News Corp. - Class B(b)
 
 
2,782
 
 
84,795
Omnicom Group, Inc.
 
 
7,179
 
 
550,773
Paramount Skydance Corp.
 
 
7,073
 
 
72,427
Take-Two Interactive Software, Inc.(a)
 
 
3,965
 
 
847,558
TKO Group Holdings, Inc.
 
 
1,507
 
 
280,438
T-Mobile US, Inc.
 
 
10,812
 
 
2,113,746
Trade Desk, Inc. - Class A(a)
 
 
10,040
 
 
236,844
Verizon Communications, Inc.
 
 
96,245
 
 
4,622,647
Walt Disney Co.
 
 
40,431
 
 
4,194,716
Warner Bros Discovery, Inc.(a)
 
 
56,552
 
 
1,529,732
 
 
 
 
155,391,766
Consumer Discretionary - 9.0%
 
 
 
 
Airbnb, Inc. - Class A(a)
 
 
9,664
 
 
1,356,439
Amazon.com, Inc.(a)
 
 
222,962
 
 
59,098,308
Aptiv PLC(a)
 
 
4,854
 
 
292,502
AutoZone, Inc.(a)
 
 
371
 
 
1,374,195
Best Buy Co., Inc.
 
 
4,432
 
 
268,092
Booking Holdings, Inc.
 
 
18,345
 
 
3,088,564
Carnival Corp.(a)
 
 
26,248
 
 
695,834
Carvana Co.(a)(b)
 
 
3,213
 
 
1,271,705
Chipotle Mexican Grill, Inc.(a)
 
 
29,725
 
 
1,010,353
Darden Restaurants, Inc.
 
 
2,623
 
 
526,069
Deckers Outdoor Corp.(a)
 
 
3,224
 
 
329,493
Domino’s Pizza, Inc.
 
 
697
 
 
236,576
DoorDash, Inc. - Class A(a)
 
 
8,528
 
 
1,438,247
DR Horton, Inc.
 
 
6,145
 
 
945,470
eBay, Inc.
 
 
10,302
 
 
1,066,051
Expedia Group, Inc.
 
 
2,665
 
 
661,906
Ford Motor Co.
 
 
89,430
 
 
1,080,314
Garmin Ltd.
 
 
3,728
 
 
936,250
General Motors Co.
 
 
20,624
 
 
1,585,779
Genuine Parts Co.
 
 
3,161
 
 
338,954
Hasbro, Inc.
 
 
3,031
 
 
290,491
Hilton Worldwide Holdings, Inc.
 
 
5,225
 
 
1,693,266
Home Depot, Inc.
 
 
22,718
 
 
7,469,678
Las Vegas Sands Corp.
 
 
6,884
 
 
375,935
Lennar Corp. - Class A
 
 
4,922
 
 
444,457
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
Lowe’s Cos., Inc.
 
 
12,786
 
 
$3,053,169
Lululemon Athletica, Inc.(a)
 
 
2,435
 
 
335,299
Marriott International, Inc. - Class A
 
 
5,015
 
 
1,813,875
McDonald’s Corp.
 
 
16,239
 
 
4,767,608
MGM Resorts International(a)
 
 
4,365
 
 
169,973
NIKE, Inc. - Class B
 
 
27,175
 
 
1,205,483
Norwegian Cruise Line Holdings
Ltd.(a)
 
 
10,375
 
 
188,617
NVR, Inc.(a)
 
 
63
 
 
397,900
O’Reilly Automotive, Inc.(a)
 
 
19,211
 
 
1,909,573
Pool Corp.
 
 
735
 
 
156,790
PulteGroup, Inc.
 
 
4,371
 
 
534,836
Ralph Lauren Corp.
 
 
867
 
 
310,941
Ross Stores, Inc.
 
 
7,378
 
 
1,680,635
Royal Caribbean Cruises Ltd.(b)
 
 
5,725
 
 
1,510,026
Starbucks Corp.
 
 
25,984
 
 
2,736,895
Tapestry, Inc.
 
 
4,602
 
 
667,474
Tesla Motors, Inc.(a)
 
 
64,188
 
 
24,496,066
TJX Cos., Inc.
 
 
25,337
 
 
3,971,575
Tractor Supply Co.
 
 
12,057
 
 
423,201
Ulta Beauty, Inc.(a)
 
 
995
 
 
534,793
Williams-Sonoma, Inc.
 
 
2,718
 
 
492,529
Wynn Resorts Ltd.
 
 
1,914
 
 
205,009
Yum! Brands, Inc.
 
 
6,330
 
 
1,010,584
 
 
 
 
140,447,779
Consumer Staples - 4.5%
 
 
 
 
Altria Group, Inc.
 
 
38,308
 
 
2,783,076
Archer-Daniels-Midland Co.
 
 
10,963
 
 
817,182
Brown-Forman Corp. - Class B
 
 
3,894
 
 
100,348
Bunge Global SA
 
 
3,077
 
 
390,994
Campbell’s Co.(b)
 
 
4,475
 
 
93,035
Casey’s General Stores, Inc.
 
 
835
 
 
686,495
Church & Dwight Co., Inc.
 
 
5,391
 
 
523,251
Clorox Co.
 
 
2,753
 
 
265,499
Coca-Cola Co.
 
 
88,351
 
 
6,958,525
Colgate-Palmolive Co.
 
 
18,387
 
 
1,569,514
Conagra Brands, Inc.(b)
 
 
10,914
 
 
156,616
Constellation Brands, Inc. - Class A
 
 
3,191
 
 
499,647
Costco Wholesale Corp.
 
 
10,119
 
 
10,266,029
Dollar General Corp.
 
 
5,019
 
 
581,602
Dollar Tree, Inc.(a)
 
 
4,209
 
 
408,736
Estee Lauder Cos., Inc. - Class A
 
 
5,627
 
 
431,647
General Mills, Inc.
 
 
12,173
 
 
429,829
Hershey Co.
 
 
3,364
 
 
624,829
Hormel Foods Corp.
 
 
6,642
 
 
142,604
J M Smucker Co.
 
 
2,434
 
 
238,605
Kenvue, Inc.
 
 
43,713
 
 
766,289
Keurig Dr Pepper, Inc.(b)
 
 
31,005
 
 
911,547
Kimberly-Clark Corp.
 
 
7,568
 
 
744,918
Kroger Co.
 
 
13,284
 
 
904,242
McCormick & Co., Inc.
 
 
5,769
 
 
293,296
Molson Coors Beverage Co. - Class B
 
 
3,859
 
 
164,934
Mondelez International, Inc. - Class A
 
 
29,243
 
 
1,796,690
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
12
 

TABLE OF CONTENTS

PACER METAURUS US LARGE CAP DIVIDEND MULTIPLIER 400 ETF
SCHEDULE OF INVESTMENTS
April 30, 2026 (Unaudited)(Continued)
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
COMMON STOCKS - (Continued)
Consumer Staples - (Continued)
Monster Beverage Corp.(a)
 
 
16,263
 
 
$1,253,390
PepsiCo, Inc.
 
 
31,186
 
 
4,942,669
Philip Morris International, Inc.
 
 
35,530
 
 
5,864,937
Procter & Gamble Co.
 
 
53,028
 
 
7,799,889
Sysco Corp.
 
 
10,927
 
 
816,356
Target Corp.
 
 
10,320
 
 
1,339,020
The Kraft Heinz Co.
 
 
19,444
 
 
440,601
Tyson Foods, Inc. - Class A(b)
 
 
6,429
 
 
411,906
Walmart, Inc.
 
 
100,043
 
 
13,198,673
 
 
 
 
69,617,420
Energy - 3.2%
 
 
 
 
APA Corp.
 
 
8,078
 
 
329,017
Baker Hughes Co.
 
 
22,555
 
 
1,571,407
Chevron Corp.
 
 
42,782
 
 
8,270,188
ConocoPhillips
 
 
27,951
 
 
3,515,677
Coterra Energy, Inc.
 
 
17,303
 
 
621,351
Devon Energy Corp.
 
 
14,137
 
 
726,218
Diamondback Energy, Inc.(b)
 
 
4,420
 
 
908,885
EOG Resources, Inc.
 
 
12,375
 
 
1,739,554
EQT Corp.
 
 
14,244
 
 
855,779
Expand Energy Corp.
 
 
5,424
 
 
554,062
Exxon Mobil Corp.
 
 
95,372
 
 
14,718,761
Halliburton Co.
 
 
19,114
 
 
808,522
Kinder Morgan, Inc.
 
 
44,670
 
 
1,468,303
Marathon Petroleum Corp.
 
 
6,719
 
 
1,668,260
Occidental Petroleum Corp.
 
 
16,397
 
 
993,330
ONEOK, Inc.
 
 
14,359
 
 
1,327,633
Phillips 66
 
 
9,180
 
 
1,644,597
SLB Ltd.
 
 
34,113
 
 
1,940,347
Targa Resources Corp.
 
 
4,897
 
 
1,273,612
Texas Pacific Land Corp.(b)
 
 
1,319
 
 
585,201
Valero Energy Corp.
 
 
6,943
 
 
1,753,663
Williams Cos., Inc.
 
 
27,862
 
 
2,126,149
 
 
 
 
49,400,516
Financials - 10.8%
 
 
 
 
Aflac, Inc.
 
 
10,634
 
 
1,208,767
Allstate Corp.
 
 
5,934
 
 
1,289,221
American Express Co.
 
 
12,217
 
 
3,946,702
American International Group, Inc.
 
 
12,240
 
 
915,552
Ameriprise Financial, Inc.
 
 
2,068
 
 
981,866
Aon PLC - Class A
 
 
4,893
 
 
1,524,903
Apollo Global Management, Inc.
 
 
10,578
 
 
1,361,600
Arch Capital Group Ltd.(a)
 
 
8,140
 
 
768,904
Ares Management Corp. - Class A
 
 
4,682
 
 
549,667
Arthur J Gallagher & Co.
 
 
5,845
 
 
1,206,408
Assurant, Inc.
 
 
1,123
 
 
265,331
Bank of America Corp.
 
 
151,433
 
 
8,095,608
Bank of New York Mellon Corp.
 
 
15,703
 
 
2,110,012
Berkshire Hathaway, Inc. - Class B(a)
 
 
41,847
 
 
19,818,739
Blackrock, Inc.
 
 
3,277
 
 
3,491,971
Blackstone, Inc.
 
 
17,079
 
 
2,144,781
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
Block, Inc.(a)
 
 
12,489
 
 
$880,599
Brown & Brown, Inc.
 
 
6,669
 
 
401,140
Capital One Financial Corp.
 
 
14,267
 
 
2,729,277
Cboe Global Markets, Inc.
 
 
2,388
 
 
716,615
Charles Schwab Corp.
 
 
38,120
 
 
3,493,317
Chubb Ltd.
 
 
8,302
 
 
2,714,754
Cincinnati Financial Corp.
 
 
3,561
 
 
582,580
Citigroup, Inc.
 
 
39,872
 
 
5,102,819
Citizens Financial Group, Inc.
 
 
9,696
 
 
630,725
CME Group, Inc.
 
 
8,211
 
 
2,363,290
Coinbase Global, Inc. - Class A(a)(b)
 
 
5,085
 
 
954,810
Corpay, Inc.(a)
 
 
1,589
 
 
486,981
Erie Indemnity Co. - Class A(b)
 
 
570
 
 
124,790
Everest Group Ltd.
 
 
912
 
 
325,365
FactSet Research Systems, Inc.(b)
 
 
832
 
 
189,347
Fidelity National Information Services, Inc.
 
 
11,799
 
 
549,007
Fifth Third Bancorp
 
 
20,536
 
 
1,042,407
Fiserv, Inc.(a)
 
 
12,269
 
 
768,653
Franklin Resources, Inc.
 
 
6,993
 
 
209,580
Global Payments, Inc.
 
 
5,419
 
 
389,951
Globe Life, Inc.
 
 
1,806
 
 
278,666
Goldman Sachs Group, Inc.
 
 
6,829
 
 
6,308,425
Hartford Insurance Group, Inc.
 
 
6,358
 
 
869,838
Huntington Bancshares, Inc.
 
 
46,327
 
 
776,441
Interactive Brokers Group, Inc. - Class A
 
 
10,153
 
 
807,163
Intercontinental Exchange, Inc.
 
 
12,942
 
 
2,046,001
Invesco Ltd.
 
 
10,122
 
 
265,298
Jack Henry & Associates, Inc.
 
 
1,639
 
 
251,996
JPMorgan Chase & Co.
 
 
61,519
 
 
19,269,596
KeyCorp.
 
 
21,386
 
 
472,844
KKR & Co., Inc.
 
 
15,662
 
 
1,634,173
Loews Corp.
 
 
3,851
 
 
433,661
M&T Bank Corp.
 
 
3,446
 
 
753,399
Marsh & McLennan Cos., Inc.
 
 
11,043
 
 
1,852,022
Mastercard, Inc. - Class A
 
 
18,574
 
 
9,341,236
MetLife, Inc.
 
 
12,551
 
 
1,005,335
Moody’s Corp.
 
 
3,482
 
 
1,608,162
Morgan Stanley
 
 
27,456
 
 
5,232,839
MSCI, Inc.
 
 
1,668
 
 
986,472
Nasdaq, Inc.
 
 
10,236
 
 
940,791
Northern Trust Corp.
 
 
4,241
 
 
705,448
PayPal Holdings, Inc.
 
 
20,998
 
 
1,052,840
PNC Financial Services Group, Inc.
 
 
9,202
 
 
2,052,046
Principal Financial Group, Inc.
 
 
4,498
 
 
453,893
Progressive Corp.
 
 
13,371
 
 
2,691,315
Prudential Financial, Inc.
 
 
7,928
 
 
777,816
Raymond James Financial, Inc.
 
 
3,996
 
 
632,647
Regions Financial Corp.
 
 
19,796
 
 
565,176
Robinhood Markets, Inc. - Class A(a)
 
 
18,034
 
 
1,314,498
S&P Global, Inc.
 
 
6,965
 
 
3,003,517
State Street Corp.
 
 
6,362
 
 
972,368
Synchrony Financial
 
 
7,919
 
 
603,428
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
13
 

TABLE OF CONTENTS

PACER METAURUS US LARGE CAP DIVIDEND MULTIPLIER 400 ETF
SCHEDULE OF INVESTMENTS
April 30, 2026 (Unaudited)(Continued)
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
COMMON STOCKS - (Continued)
Financials - (Continued)
T Rowe Price Group, Inc.
 
 
4,985
 
 
$512,857
Travelers Cos., Inc.
 
 
4,932
 
 
1,504,950
Truist Financial Corp.
 
 
28,808
 
 
1,483,612
US Bancorp
 
 
35,459
 
 
2,009,107
Visa, Inc. - Class A
 
 
38,362
 
 
12,653,322
W R Berkley Corp.
 
 
6,785
 
 
453,442
Wells Fargo & Co.
 
 
70,575
 
 
5,803,382
Willis Towers Watson PLC
 
 
2,153
 
 
551,599
 
 
 
 
169,267,660
Health Care - 7.7%
 
 
 
 
Abbott Laboratories
 
 
39,678
 
 
3,602,366
AbbVie, Inc.
 
 
40,338
 
 
8,524,226
Agilent Technologies, Inc.
 
 
6,446
 
 
744,835
Align Technology, Inc.(a)
 
 
1,517
 
 
267,007
Amgen, Inc.
 
 
12,283
 
 
4,252,989
Baxter International, Inc.
 
 
11,724
 
 
206,108
Becton Dickinson & Co.(b)
 
 
6,489
 
 
967,120
Biogen, Inc.(a)
 
 
3,332
 
 
630,681
Bio-Techne Corp.(b)
 
 
3,571
 
 
197,548
Boston Scientific Corp.(a)
 
 
33,837
 
 
1,949,349
Bristol-Myers Squibb Co.
 
 
46,476
 
 
2,815,981
Cardinal Health, Inc.
 
 
5,360
 
 
1,033,837
Cencora, Inc.
 
 
4,424
 
 
1,362,636
Centene Corp.(a)
 
 
10,663
 
 
572,496
Charles River Laboratories International, Inc.(a)
 
 
1,103
 
 
184,168
Cigna Group
 
 
6,012
 
 
1,746,967
Cooper Cos., Inc.(a)
 
 
4,457
 
 
280,345
CVS Health Corp.
 
 
29,027
 
 
2,417,659
Danaher Corp.
 
 
14,357
 
 
2,569,185
DaVita, Inc.(a)
 
 
749
 
 
116,200
DexCom, Inc.(a)
 
 
8,776
 
 
522,611
Edwards Lifesciences Corp.(a)
 
 
13,241
 
 
1,105,623
Elevance Health, Inc.
 
 
5,032
 
 
1,894,145
Eli Lilly & Co.
 
 
18,081
 
 
16,898,503
GE HealthCare Technologies, Inc.
 
 
10,386
 
 
631,884
Gilead Sciences, Inc.
 
 
28,299
 
 
3,702,641
HCA Healthcare, Inc.
 
 
3,572
 
 
1,551,855
Henry Schein, Inc.(a)
 
 
2,264
 
 
168,872
Humana, Inc.
 
 
2,746
 
 
649,264
IDEXX Laboratories, Inc.(a)
 
 
1,811
 
 
1,015,609
Incyte Corp.(a)
 
 
3,811
 
 
363,074
Insulet Corp.(a)
 
 
1,598
 
 
275,080
Intuitive Surgical, Inc.(a)
 
 
8,088
 
 
3,701,150
IQVIA Holdings, Inc.(a)
 
 
3,865
 
 
612,100
Johnson & Johnson
 
 
54,995
 
 
12,640,601
Labcorp Holdings, Inc.
 
 
1,880
 
 
482,784
McKesson Corp.
 
 
2,788
 
 
2,272,778
Medtronic PLC
 
 
29,247
 
 
2,368,130
Merck & Co., Inc.
 
 
56,633
 
 
6,183,191
Mettler-Toledo International, Inc.(a)
 
 
456
 
 
582,134
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
Moderna, Inc.(a)
 
 
7,923
 
 
$363,983
Pfizer, Inc.
 
 
129,761
 
 
3,464,619
Quest Diagnostics, Inc.
 
 
2,508
 
 
487,054
Regeneron Pharmaceuticals, Inc.
 
 
2,281
 
 
1,612,804
ResMed, Inc.
 
 
3,308
 
 
707,283
Revvity, Inc.(b)
 
 
2,584
 
 
223,826
Solventum Corp.(a)
 
 
3,347
 
 
225,454
STERIS PLC
 
 
2,220
 
 
481,474
Stryker Corp.
 
 
7,848
 
 
2,473,140
Thermo Fisher Scientific, Inc.
 
 
8,570
 
 
4,104,687
UnitedHealth Group, Inc.
 
 
20,666
 
 
7,656,340
Universal Health Services, Inc. - Class B
 
 
1,259
 
 
211,852
Vertex Pharmaceuticals, Inc.(a)
 
 
5,779
 
 
2,469,829
Viatris, Inc.
 
 
26,284
 
 
392,683
Waters Corp.(a)
 
 
2,220
 
 
686,491
West Pharmaceutical Services, Inc.
 
 
1,634
 
 
486,262
Zimmer Biomet Holdings, Inc.(b)
 
 
4,506
 
 
371,429
Zoetis, Inc.
 
 
9,632
 
 
1,107,391
 
 
 
 
119,590,333
Industrials - 7.9%
 
 
 
 
3M Co.
 
 
12,019
 
 
1,761,024
A O Smith Corp.(b)
 
 
2,563
 
 
158,496
Allegion PLC
 
 
1,950
 
 
268,086
AMETEK, Inc.
 
 
5,245
 
 
1,235,197
Automatic Data Processing, Inc.
 
 
9,174
 
 
1,944,338
Axon Enterprise, Inc.(a)
 
 
1,790
 
 
719,150
Boeing Co.(a)
 
 
17,922
 
 
4,104,676
Broadridge Financial Solutions, Inc.
 
 
2,659
 
 
409,433
Builders FirstSource, Inc.(a)
 
 
2,521
 
 
199,386
Carrier Global Corp.
 
 
17,930
 
 
1,204,358
Caterpillar, Inc.
 
 
10,600
 
 
9,435,166
CH Robinson Worldwide, Inc.(b)
 
 
2,701
 
 
491,069
Cintas Corp.
 
 
7,747
 
 
1,353,478
Comfort Systems USA, Inc.
 
 
789
 
 
1,451,957
Copart, Inc.(a)
 
 
20,324
 
 
672,928
CSX Corp.
 
 
42,426
 
 
1,927,413
Cummins, Inc.
 
 
3,140
 
 
2,106,971
Deere & Co.
 
 
5,736
 
 
3,383,494
Delta Air Lines, Inc.
 
 
14,815
 
 
1,007,272
Dover Corp.
 
 
3,066
 
 
694,173
Eaton Corp. PLC
 
 
8,855
 
 
3,834,304
EMCOR Group, Inc.
 
 
1,004
 
 
895,237
Emerson Electric Co.
 
 
12,810
 
 
1,799,036
Equifax, Inc.
 
 
2,741
 
 
476,770
Expeditors International of Washington, Inc.(b)
 
 
3,047
 
 
450,621
Fastenal Co.
 
 
26,204
 
 
1,177,346
FedEx Corp.
 
 
4,934
 
 
1,989,932
Fortive Corp.
 
 
7,152
 
 
427,618
GE Vernova, Inc.
 
 
6,148
 
 
6,661,112
Generac Holdings, Inc.(a)
 
 
1,337
 
 
346,590
General Dynamics Corp.
 
 
5,774
 
 
1,987,988
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
14
 

TABLE OF CONTENTS

PACER METAURUS US LARGE CAP DIVIDEND MULTIPLIER 400 ETF
SCHEDULE OF INVESTMENTS
April 30, 2026 (Unaudited)(Continued)
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
COMMON STOCKS - (Continued)
Industrials - (Continued)
General Electric Co.
 
 
23,934
 
 
$6,939,185
Honeywell International, Inc.
 
 
14,486
 
 
3,104,784
Howmet Aerospace, Inc.
 
 
9,136
 
 
2,220,413
Hubbell, Inc.
 
 
1,213
 
 
616,410
Huntington Ingalls Industries, Inc.
 
 
880
 
 
320,575
IDEX Corp.
 
 
1,699
 
 
370,127
Illinois Tool Works, Inc.
 
 
5,985
 
 
1,544,190
Ingersoll Rand, Inc.
 
 
8,106
 
 
647,345
Jacobs Solutions, Inc.
 
 
2,675
 
 
346,172
JB Hunt Trasport Services, Inc.
 
 
1,696
 
 
426,595
Johnson Controls International PLC
 
 
13,953
 
 
2,037,557
L3Harris Technologies, Inc.
 
 
4,250
 
 
1,362,337
Leidos Holdings, Inc.
 
 
2,908
 
 
433,932
Lennox International, Inc.(b)
 
 
716
 
 
382,981
Lockheed Martin Corp.
 
 
4,602
 
 
2,383,698
Masco Corp.(b)
 
 
4,628
 
 
332,383
Nordson Corp.
 
 
1,207
 
 
348,159
Norfolk Southern Corp.
 
 
5,119
 
 
1,616,734
Northrop Grumman Corp.
 
 
3,033
 
 
1,757,563
Old Dominion Freight Line, Inc.
 
 
4,188
 
 
889,657
Otis Worldwide Corp.
 
 
8,862
 
 
690,173
PACCAR, Inc.
 
 
11,989
 
 
1,424,293
Parker-Hannifin Corp.
 
 
2,872
 
 
2,611,854
Paychex, Inc.
 
 
7,369
 
 
682,590
Pentair PLC
 
 
3,732
 
 
301,210
Quanta Services, Inc.
 
 
3,385
 
 
2,463,501
Republic Services, Inc.
 
 
4,574
 
 
956,972
Rockwell Automation, Inc.
 
 
2,561
 
 
1,047,219
Rollins, Inc.
 
 
6,684
 
 
372,499
RTX Corp.
 
 
30,619
 
 
5,391,087
Snap-On, Inc.
 
 
1,185
 
 
454,329
Southwest Airlines Co.
 
 
11,204
 
 
424,856
Stanley Black & Decker, Inc.(b)
 
 
3,514
 
 
274,654
Textron, Inc.
 
 
3,968
 
 
380,769
Trane Technologies PLC
 
 
5,046
 
 
2,485,357
TransDigm Group, Inc.
 
 
1,287
 
 
1,492,894
Uber Technologies, Inc.(a)
 
 
46,962
 
 
3,503,835
Union Pacific Corp.
 
 
13,535
 
 
3,647,412
United Airlines Holdings, Inc.(a)
 
 
7,377
 
 
663,930
United Parcel Service, Inc. - Class B
 
 
16,862
 
 
1,834,586
United Rentals, Inc.
 
 
1,433
 
 
1,375,451
Veralto Corp.
 
 
5,651
 
 
498,418
Verisk Analytics, Inc.
 
 
3,167
 
 
584,280
Vertiv Holdings Co. - Class A
 
 
8,724
 
 
2,865,747
W.W. Grainger, Inc.
 
 
981
 
 
1,139,284
Waste Management, Inc.
 
 
8,466
 
 
1,968,768
Westinghouse Air Brake Technologies Corp.
 
 
3,886
 
 
1,048,793
Xylem, Inc.
 
 
5,545
 
 
655,197
 
 
 
 
123,895,374
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
Information Technology - 31.6%(c)
 
 
 
 
Accenture PLC - Class A
 
 
14,026
 
 
$2,506,586
Adobe, Inc.(a)
 
 
9,350
 
 
2,301,035
Advanced Micro Devices, Inc.(a)
 
 
37,205
 
 
13,188,800
Akamai Technologies, Inc.(a)
 
 
3,267
 
 
336,436
Amphenol Corp. - Class A
 
 
28,042
 
 
4,129,745
Analog Devices, Inc.
 
 
11,144
 
 
4,482,785
Apple, Inc.
 
 
335,091
 
 
90,926,943
Applied Materials, Inc.
 
 
18,110
 
 
7,144,214
AppLovin Corp. - Class A(a)
 
 
6,181
 
 
2,758,889
Arista Networks, Inc.(a)
 
 
23,550
 
 
4,067,321
Autodesk, Inc.(a)
 
 
4,837
 
 
1,146,369
Broadcom, Inc.
 
 
108,209
 
 
45,169,683
Cadence Design System, Inc.(a)
 
 
6,208
 
 
2,046,095
CDW Corp.
 
 
2,961
 
 
405,391
Ciena Corp.(a)
 
 
3,200
 
 
1,688,256
Cisco Systems, Inc.
 
 
90,179
 
 
8,251,379
Cognizant Technology Solutions Corp. - Class A
 
 
10,911
 
 
577,192
Coherent Corp.(a)
 
 
4,266
 
 
1,363,883
Corning, Inc.
 
 
17,819
 
 
2,926,593
Crowdstrike Holdings, Inc. -
Class A(a)
 
 
5,736
 
 
2,556,822
Datadog, Inc. - Class A(a)
 
 
7,486
 
 
989,574
Dell Technologies, Inc. - Class C
 
 
6,768
 
 
1,414,174
EPAM Systems, Inc.(a)(b)
 
 
1,260
 
 
143,363
F5, Inc.(a)
 
 
1,288
 
 
417,183
Fair Isaac Corp.(a)
 
 
532
 
 
545,300
First Solar, Inc.(a)
 
 
2,448
 
 
494,227
Fortinet, Inc.(a)
 
 
14,424
 
 
1,216,087
Gartner, Inc.(a)(b)
 
 
1,600
 
 
237,584
Gen Digital, Inc.
 
 
12,567
 
 
242,417
GoDaddy, Inc. - Class A(a)
 
 
3,072
 
 
266,619
Hewlett Packard Enterprise Co.
 
 
30,317
 
 
872,220
HP, Inc.
 
 
20,938
 
 
436,767
Intel Corp.(a)
 
 
107,158
 
 
10,124,288
International Business Machines
Corp.
 
 
21,335
 
 
4,927,958
Intuit, Inc.
 
 
6,344
 
 
2,464,644
Jabil, Inc.
 
 
2,409
 
 
813,013
Keysight Technologies, Inc.(a)
 
 
3,908
 
 
1,367,448
KLA Corp.
 
 
2,981
 
 
5,217,793
Lam Research Corp.
 
 
28,501
 
 
7,349,268
Lumentum Holdings, Inc.(a)(b)
 
 
1,622
 
 
1,463,563
Microchip Technology, Inc.
 
 
12,342
 
 
1,146,695
Micron Technology, Inc.
 
 
25,675
 
 
13,278,083
Microsoft Corp.
 
 
169,484
 
 
69,112,186
Monolithic Power Systems, Inc.
 
 
1,092
 
 
1,762,936
Motorola Solutions, Inc.
 
 
3,777
 
 
1,658,216
NetApp, Inc.
 
 
4,503
 
 
498,797
NVIDIA Corp.
 
 
554,629
 
 
110,687,310
NXP Semiconductors NV
 
 
5,726
 
 
1,681,096
ON Semiconductor Corp.(a)
 
 
8,981
 
 
905,375
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
15
 

TABLE OF CONTENTS

PACER METAURUS US LARGE CAP DIVIDEND MULTIPLIER 400 ETF
SCHEDULE OF INVESTMENTS
April 30, 2026 (Unaudited)(Continued)
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
COMMON STOCKS - (Continued)
Information Technology - (Continued)
Oracle Corp.
 
 
38,690
 
 
$6,244,179
Palantir Technologies, Inc. - Class A(a)
 
 
52,138
 
 
7,252,917
Palo Alto Networks, Inc.(a)
 
 
18,432
 
 
3,305,226
PTC, Inc.(a)(b)
 
 
2,710
 
 
369,373
Qnity Electronics, Inc.
 
 
4,780
 
 
672,355
QUALCOMM, Inc.
 
 
24,342
 
 
4,371,336
Roper Technologies, Inc.
 
 
2,432
 
 
862,898
salesforce.com, Inc.
 
 
21,385
 
 
3,775,094
Sandisk Corp.(a)
 
 
3,351
 
 
3,674,405
Seagate Technology Holdings PLC
 
 
4,973
 
 
3,350,012
ServiceNow, Inc.(a)
 
 
23,871
 
 
2,108,048
Skyworks Solutions, Inc.(b)
 
 
3,413
 
 
239,490
Super Micro Computer, Inc.(a)(b)
 
 
11,470
 
 
314,278
Synopsys, Inc.(a)
 
 
4,352
 
 
2,100,275
TE Connectivity PLC
 
 
6,684
 
 
1,414,735
Teledyne Technologies, Inc.(a)
 
 
1,053
 
 
680,080
Teradyne, Inc.
 
 
3,574
 
 
1,227,562
Texas Instruments, Inc.
 
 
20,704
 
 
5,819,480
Trimble, Inc.(a)
 
 
5,418
 
 
364,740
Tyler Technologies, Inc.(a)
 
 
965
 
 
329,200
VeriSign, Inc.
 
 
1,871
 
 
502,663
Western Digital Corp.
 
 
7,727
 
 
3,357,536
Workday, Inc. - Class A(a)
 
 
4,859
 
 
594,742
Zebra Technologies Corp. - Class A(a)
 
 
1,103
 
 
249,565
 
 
 
 
492,888,790
Materials - 1.7%
 
 
 
 
Air Products & Chemicals, Inc.
 
 
5,076
 
 
1,523,054
Albemarle Corp.
 
 
2,684
 
 
527,943
Amcor PLC(b)
 
 
10,527
 
 
400,447
Avery Dennison Corp.
 
 
1,754
 
 
287,533
Ball Corp.
 
 
6,113
 
 
373,382
CF Industries Holdings, Inc.
 
 
3,560
 
 
442,152
Corteva, Inc.
 
 
15,330
 
 
1,241,883
CRH PLC
 
 
15,279
 
 
1,809,339
Dow, Inc.
 
 
16,360
 
 
662,417
DuPont de Nemours, Inc.
 
 
9,321
 
 
425,597
Ecolab, Inc.
 
 
5,799
 
 
1,511,219
Freeport-McMoRan, Inc.
 
 
32,789
 
 
1,894,549
International Flavors & Fragrances, Inc.
 
 
5,826
 
 
408,985
International Paper Co.
 
 
12,049
 
 
366,531
Linde PLC
 
 
10,658
 
 
5,341,150
LyondellBasell Industries NV -
Class A
 
 
5,857
 
 
436,932
Martin Marietta Materials, Inc.
 
 
1,373
 
 
849,983
Mosaic Co.
 
 
7,242
 
 
168,521
Newmont Goldcorp Corp.
 
 
24,907
 
 
2,766,919
Nucor Corp.
 
 
5,215
 
 
1,174,887
Packaging Corp. of America
 
 
2,025
 
 
432,236
PPG Industries, Inc.
 
 
5,115
 
 
554,978
Sherwin-Williams Co.
 
 
5,253
 
 
1,689,417
Smurfit WestRock PLC(b)
 
 
11,922
 
 
457,686
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
Steel Dynamics, Inc.
 
 
3,120
 
 
$713,419
Vulcan Materials Co.
 
 
3,004
 
 
906,427
 
 
 
 
27,367,586
Real Estate - 0.1%
 
 
 
 
CBRE Group, Inc. - Class A(a)
 
 
6,619
 
 
944,730
CoStar Group, Inc.(a)
 
 
9,670
 
 
334,679
 
 
 
 
1,279,409
Utilities - 2.1%
 
 
 
 
AES Corp.
 
 
16,239
 
 
234,654
Alliant Energy Corp.(b)
 
 
5,847
 
 
429,345
Ameren Corp.
 
 
6,302
 
 
716,222
American Electric Power Co., Inc.
 
 
12,336
 
 
1,691,389
American Water Works Co., Inc.
 
 
4,439
 
 
570,056
Atmos Energy Corp.
 
 
3,772
 
 
716,605
CenterPoint Energy, Inc.
 
 
14,889
 
 
649,905
CMS Energy Corp.
 
 
6,975
 
 
535,262
Consolidated Edison, Inc.
 
 
8,218
 
 
916,225
Constellation Energy Corp.
 
 
7,113
 
 
2,226,369
Dominion Energy, Inc.(b)
 
 
19,481
 
 
1,256,524
DTE Energy Co.
 
 
4,740
 
 
719,011
Duke Energy Corp.
 
 
17,729
 
 
2,296,792
Edison International
 
 
8,774
 
 
609,705
Entergy Corp.
 
 
10,309
 
 
1,215,534
Evergy, Inc.
 
 
5,245
 
 
434,496
Eversource Energy
 
 
8,559
 
 
605,121
Exelon Corp.
 
 
23,332
 
 
1,073,039
FirstEnergy Corp.
 
 
11,866
 
 
563,872
NextEra Energy, Inc.
 
 
47,532
 
 
4,652,432
NiSource, Inc.
 
 
10,918
 
 
527,121
NRG Energy, Inc.
 
 
4,845
 
 
753,785
PG&E Corp.
 
 
50,160
 
 
833,659
Pinnacle West Capital Corp.(b)
 
 
2,725
 
 
282,637
PPL Corp.
 
 
16,879
 
 
631,950
Public Service Enterprise Group, Inc.
 
 
11,380
 
 
929,291
Sempra
 
 
14,885
 
 
1,415,861
Southern Co.
 
 
25,128
 
 
2,429,878
Vistra Corp.
 
 
7,267
 
 
1,147,023
WEC Energy Group, Inc.(b)
 
 
7,423
 
 
875,469
Xcel Energy, Inc.
 
 
13,493
 
 
1,119,244
 
 
 
 
33,058,476
TOTAL COMMON STOCKS
(Cost $1,131,110,521)
 
 
 
 
1,382,205,109
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Par
 
 
 
 
U.S. TREASURY SECURITIES - 8.8%
 
 
 
 
United States Treasury Note/Bond
 
 
 
 
 
4.88%, 05/31/2026
 
 
$13,000,000
 
 
13,009,752
 
4.63%, 06/30/2026
 
 
12,000,000
 
 
12,017,659
 
3.50%, 09/30/2026
 
 
12,000,000
 
 
11,989,229
 
4.25%, 12/31/2026
 
 
11,500,000
 
 
11,538,150
 
2.50%, 03/31/2027
 
 
11,500,000
 
 
11,371,822
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
16
 

TABLE OF CONTENTS

PACER METAURUS US LARGE CAP DIVIDEND MULTIPLIER 400 ETF
SCHEDULE OF INVESTMENTS
April 30, 2026 (Unaudited)(Continued)
 
 
 
 
 
 
 
 
 
 
Par
 
 
Value
U.S. TREASURY SECURITIES - (Continued)
3.25%, 06/30/2027
 
 
$11,500,000
 
 
$11,426,553
4.13%, 09/30/2027
 
 
11,500,000
 
 
11,540,879
3.88%, 12/31/2027
 
 
11,500,000
 
 
11,498,652
3.63%, 03/31/2028
 
 
10,500,000
 
 
10,449,961
4.00%, 06/30/2028
 
 
10,500,000
 
 
10,525,225
4.63%, 09/30/2028
 
 
10,500,000
 
 
10,675,957
3.75%, 12/31/2028
 
 
10,500,000
 
 
10,459,189
TOTAL U.S. TREASURY SECURITIES
(Cost $136,680,252)
 
 
 
 
136,503,028
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Shares
 
 
 
REAL ESTATE INVESTMENT TRUSTS - 1.7%
 
 
 
 
Real Estate - 1.7%
 
 
 
 
Alexandria Real Estate Equities, Inc.
 
 
3,560
 
 
144,216
American Tower Corp.
 
 
10,685
 
 
1,952,256
AvalonBay Communities, Inc.
 
 
3,217
 
 
588,711
BXP, Inc.
 
 
3,348
 
 
195,724
Camden Property Trust
 
 
2,339
 
 
245,642
Crown Castle, Inc.
 
 
9,931
 
 
881,674
Digital Realty Trust, Inc.
 
 
7,366
 
 
1,480,124
Equinix, Inc.
 
 
2,224
 
 
2,408,214
Equity Residential
 
 
7,834
 
 
512,187
Essex Property Trust, Inc.
 
 
1,466
 
 
385,866
Extra Space Storage, Inc.
 
 
4,843
 
 
694,147
Federal Realty Investment Trust
 
 
1,781
 
 
197,513
Healthpeak Properties, Inc.
 
 
15,856
 
 
256,391
Host Hotels & Resorts, Inc.
 
 
14,591
 
 
308,308
Invitation Homes, Inc.
 
 
12,854
 
 
369,810
Iron Mountain, Inc.
 
 
6,738
 
 
848,921
Kimco Realty Corp.
 
 
15,365
 
 
363,229
Mid-America Apartment Communities, Inc.
 
 
2,663
 
 
344,006
Prologis, Inc.
 
 
21,198
 
 
3,010,540
Public Storage(b)
 
 
3,604
 
 
1,090,030
Realty Income Corp.(b)
 
 
20,981
 
 
1,347,819
Regency Centers Corp.
 
 
3,754
 
 
292,249
SBA Communications Corp.
 
 
2,431
 
 
537,737
Simon Property Group, Inc.
 
 
7,417
 
 
1,510,917
UDR, Inc.
 
 
6,848
 
 
248,856
Ventas, Inc.
 
 
10,838
 
 
952,227
VICI Properties, Inc.
 
 
24,383
 
 
711,984
Welltower, Inc.
 
 
15,916
 
 
3,459,183
Weyerhaeuser Co.
 
 
16,427
 
 
402,790
TOTAL REAL ESTATE INVESTMENT TRUSTS
(Cost $23,259,751)
 
 
 
 
25,741,271
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
RIGHTS - 0.0%(d)
 
 
 
 
Financials - 0.0%(d)
 
 
 
 
TPG, Inc., Expires 04/08/2027, Exercise Price $3.00(a)(e)
 
 
5,010
 
 
$0
TOTAL RIGHTS
(Cost $0)
 
 
 
 
0
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Units
 
 
 
SHORT-TERM INVESTMENTS
 
 
 
 
INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 1.1%
 
 
 
 
Mount Vernon Liquid Assets Portfolio, LLC, 3.77%(f)
 
 
17,677,045
 
 
17,677,045
TOTAL INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING
(Cost $17,677,045)
 
 
 
 
17,677,045
TOTAL INVESTMENTS - 100.1%
(Cost $1,308,727,569)
 
 
 
 
$1,562,126,453
Liabilities in Excess of Other
Assets - (0.1)%
 
 
 
 
(1,091,361)
TOTAL NET ASSETS - 100.0%
 
 
 
 
$1,561,035,092
 
 
 
 
 
 
 
Par amount is in USD unless otherwise indicated.
Percentages are stated as a percent of net assets.
LLC - Limited Liability Company
PLC - Public Limited Company
The Global Industry Classification Standard (“GICS®”) was developed by and/or is the exclusive property of MSCI, Inc. (“MSCI”) and Standard & Poor’s Financial Services LLC (“S&P”). GICS® is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services.
(a)
Non-income producing security.
(b)
All or a portion of this security is on loan as of April 30, 2026. The fair value of these securities was $17,645,767.
(c)
To the extent that the Fund invests more heavily in a particular industry or sector of the economy, its performance will be especially sensitive to developments that significantly affect those industries or sectors.
(d)
Represents less than 0.05% of net assets.
(e)
Fair value determined using significant unobservable inputs in accordance with procedures established by and under the supervision of the Adviser, acting as Valuation Designee. These securities represented $0 or 0.0% of net assets as of April 30, 2026.
(f)
The rate shown represents the 7-day annualized yield as of April 30, 2026.
The accompanying notes are an integral part of these financial statements.
 
17
 

TABLE OF CONTENTS

PACER METAURUS US LARGE CAP DIVIDEND MULTIPLIER 400 ETF
SCHEDULE OF FUTURES CONTRACTS
April 30, 2026 (Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts
Purchased
 
 
Expiration Date
 
 
Notional Value
 
 
Value/Unrealized
Appreciation
(Depreciation)
S&P 500 Annual Dividend Index
 
 
2,737
 
 
12/18/2026
 
 
$56,621,688
 
 
$3,706,909
S&P 500 Annual Dividend Index
 
 
2,730
 
 
12/17/2027
 
 
56,681,625
 
 
3,280,714
S&P 500 Annual Dividend Index
 
 
2,737
 
 
12/15/2028
 
 
56,792,750
 
 
1,380,959
Net Unrealized Appreciation (Depreciation)
 
 
 
 
 
 
 
 
$8,368,582
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
18
 

TABLE OF CONTENTS

PACER PE/VC ETF
SCHEDULE OF INVESTMENTS
April 30, 2026 (Unaudited)
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
COMMON STOCKS - 89.6%
 
 
 
 
Communication Services - 12.8%
 
 
 
 
Alphabet, Inc. - Class A
 
 
294
 
 
$113,131
AST SpaceMobile, Inc.(a)
 
 
8
 
 
591
AT&T, Inc.
 
 
230
 
 
6,010
Comcast Corp. - Class A
 
 
124
 
 
3,353
EchoStar Corp. - Class A(a)
 
 
1
 
 
123
Electronic Arts, Inc.
 
 
23
 
 
4,655
Lumen Technologies, Inc.(a)
 
 
1
 
 
9
Meta Platforms, Inc. - Class A
 
 
142
 
 
86,891
Millicom International Cellular SA
 
 
1
 
 
85
Netflix, Inc.(a)
 
 
478
 
 
44,746
ROBLOX Corp. - Class A(a)
 
 
69
 
 
3,813
Spotify Technology SA(a)
 
 
20
 
 
8,931
Take-Two Interactive Software, Inc.(a)
 
 
18
 
 
3,848
T-Mobile US, Inc.
 
 
20
 
 
3,910
Verizon Communications, Inc.
 
 
136
 
 
6,532
Walt Disney Co.
 
 
48
 
 
4,980
Warner Bros Discovery, Inc.(a)
 
 
66
 
 
1,785
 
 
 
 
293,393
Consumer Discretionary - 7.7%
 
 
 
 
Airbnb, Inc. - Class A(a)
 
 
50
 
 
7,018
Amazon.com, Inc.(a)
 
 
269
 
 
71,301
AutoZone, Inc.(a)
 
 
1
 
 
3,704
Booking Holdings, Inc.
 
 
25
 
 
4,209
DoorDash, Inc. - Class A(a)
 
 
42
 
 
7,083
eBay, Inc.
 
 
48
 
 
4,967
Ford Motor Co.
 
 
95
 
 
1,148
General Motors Co.
 
 
24
 
 
1,845
Hilton Worldwide Holdings, Inc.
 
 
6
 
 
1,944
Home Depot, Inc.
 
 
27
 
 
8,878
Lowe’s Cos., Inc.
 
 
15
 
 
3,582
Marriott International, Inc. - Class A
 
 
7
 
 
2,532
McDonald’s Corp.
 
 
19
 
 
5,578
MercadoLibre, Inc.(a)
 
 
6
 
 
10,756
NIKE, Inc. - Class B
 
 
30
 
 
1,331
O’Reilly Automotive, Inc.(a)
 
 
22
 
 
2,187
Ross Stores, Inc.
 
 
8
 
 
1,822
Starbucks Corp.
 
 
26
 
 
2,739
Tesla Motors, Inc.(a)
 
 
80
 
 
30,530
TJX Cos., Inc.
 
 
28
 
 
4,389
 
 
 
 
177,543
Consumer Staples - 5.4%
 
 
 
 
Altria Group, Inc.
 
 
80
 
 
5,812
Archer-Daniels-Midland Co.
 
 
16
 
 
1,193
Coca-Cola Co.
 
 
198
 
 
15,594
Coca-Cola Europacific Partners PLC
 
 
10
 
 
946
Colgate-Palmolive Co.
 
 
39
 
 
3,329
Constellation Brands, Inc. - Class A
 
 
7
 
 
1,096
Costco Wholesale Corp.
 
 
12
 
 
12,174
Estee Lauder Cos., Inc. - Class A
 
 
9
 
 
690
General Mills, Inc.
 
 
21
 
 
741
Hershey Co.
 
 
6
 
 
1,114
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
Kenvue, Inc.
 
 
73
 
 
$1,280
Keurig Dr Pepper, Inc.
 
 
44
 
 
1,294
Kimberly-Clark Corp.
 
 
14
 
 
1,378
Kroger Co.
 
 
24
 
 
1,634
Mondelez International, Inc. - Class A
 
 
58
 
 
3,564
Monster Beverage Corp.(a)
 
 
36
 
 
2,774
PepsiCo, Inc.
 
 
65
 
 
10,302
Philip Morris International, Inc.
 
 
67
 
 
11,060
Procter & Gamble Co.
 
 
112
 
 
16,474
Sysco Corp.
 
 
22
 
 
1,644
Walmart, Inc.
 
 
223
 
 
29,420
 
 
 
 
123,513
Energy - 2.3%
 
 
 
 
Baker Hughes Co.
 
 
18
 
 
1,254
Cheniere Energy, Inc.
 
 
5
 
 
1,375
Chevron Corp.
 
 
52
 
 
10,052
ConocoPhillips
 
 
32
 
 
4,025
Devon Energy Corp.
 
 
13
 
 
668
Diamondback Energy, Inc.
 
 
4
 
 
823
EOG Resources, Inc.
 
 
12
 
 
1,687
EQT Corp.
 
 
14
 
 
841
Expand Energy Corp.
 
 
5
 
 
511
Exxon Mobil Corp.
 
 
107
 
 
16,513
Halliburton Co.
 
 
15
 
 
634
Kinder Morgan, Inc.
 
 
49
 
 
1,611
Marathon Petroleum Corp.
 
 
8
 
 
1,986
Occidental Petroleum Corp.
 
 
16
 
 
969
ONEOK, Inc.
 
 
13
 
 
1,202
Phillips 66
 
 
10
 
 
1,791
SLB Ltd.
 
 
36
 
 
2,048
Targa Resources Corp.
 
 
4
 
 
1,040
Valero Energy Corp.
 
 
8
 
 
2,021
Williams Cos., Inc.
 
 
30
 
 
2,289
 
 
 
 
53,340
Financials - 11.4%
 
 
 
 
American Express Co.
 
 
18
 
 
5,815
Bank of America Corp.
 
 
218
 
 
11,654
Berkshire Hathaway, Inc. - Class B(a)
 
 
108
 
 
51,149
Blackrock, Inc.
 
 
4
 
 
4,262
Blackstone, Inc.
 
 
19
 
 
2,386
Capital One Financial Corp.
 
 
16
 
 
3,061
Charles Schwab Corp.
 
 
44
 
 
4,032
Chubb Ltd.
 
 
10
 
 
3,270
Citigroup, Inc.
 
 
56
 
 
7,167
CME Group, Inc.
 
 
9
 
 
2,590
Coinbase Global, Inc. - Class A(a)
 
 
24
 
 
4,507
Goldman Sachs Group, Inc.
 
 
10
 
 
9,238
Intercontinental Exchange, Inc.
 
 
15
 
 
2,371
JPMorgan Chase & Co.
 
 
88
 
 
27,564
KKR & Co., Inc.
 
 
19
 
 
1,983
Marsh & McLennan Cos., Inc.
 
 
12
 
 
2,013
Mastercard, Inc. - Class A
 
 
94
 
 
47,275
Moody’s Corp.
 
 
7
 
 
3,233
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
19
 

TABLE OF CONTENTS

PACER PE/VC ETF
SCHEDULE OF INVESTMENTS
April 30, 2026 (Unaudited) (Continued)
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
COMMON STOCKS - (Continued)
Financials - (Continued)
Morgan Stanley
 
 
39
 
 
$7,433
PNC Financial Services Group, Inc.
 
 
10
 
 
2,230
Progressive Corp.
 
 
14
 
 
2,818
Robinhood Markets, Inc. - Class A(a)
 
 
88
 
 
6,414
S&P Global, Inc.
 
 
19
 
 
8,193
Visa, Inc. - Class A
 
 
100
 
 
32,984
Wells Fargo & Co.
 
 
96
 
 
7,894
 
 
 
 
261,536
Health Care - 5.4%
 
 
 
 
Abbott Laboratories
 
 
70
 
 
6,355
AbbVie, Inc.
 
 
40
 
 
8,453
Agilent Technologies, Inc.
 
 
6
 
 
693
Amgen, Inc.
 
 
12
 
 
4,155
Becton Dickinson & Co.
 
 
5
 
 
745
Boston Scientific Corp.(a)
 
 
55
 
 
3,169
Cencora, Inc.
 
 
4
 
 
1,232
Cigna Group
 
 
6
 
 
1,743
CVS Health Corp.
 
 
22
 
 
1,832
Danaher Corp.
 
 
29
 
 
5,190
DexCom, Inc.(a)
 
 
8
 
 
476
Edwards Lifesciences Corp.(a)
 
 
11
 
 
919
Elevance Health, Inc.
 
 
4
 
 
1,506
Eli Lilly & Co.
 
 
20
 
 
18,692
GE HealthCare Technologies, Inc.
 
 
8
 
 
487
Gilead Sciences, Inc.
 
 
26
 
 
3,402
HCA Healthcare, Inc.
 
 
5
 
 
2,172
Humana, Inc.
 
 
2
 
 
473
IDEXX Laboratories, Inc.(a)
 
 
2
 
 
1,122
Intuitive Surgical, Inc.(a)
 
 
14
 
 
6,407
Johnson & Johnson
 
 
55
 
 
12,642
Labcorp Holdings, Inc.
 
 
2
 
 
514
Medtronic PLC
 
 
52
 
 
4,210
Merck & Co., Inc.
 
 
56
 
 
6,114
Natera, Inc.(a)
 
 
2
 
 
412
Pfizer, Inc.
 
 
122
 
 
3,257
ResMed, Inc.
 
 
3
 
 
641
STERIS PLC
 
 
2
 
 
434
Stryker Corp.
 
 
16
 
 
5,042
Thermo Fisher Scientific, Inc.
 
 
16
 
 
7,663
UnitedHealth Group, Inc.
 
 
36
 
 
13,337
Veeva Systems, Inc. - Class A(a)
 
 
3
 
 
468
 
 
 
 
123,957
Industrials - 8.0%
 
 
 
 
Automatic Data Processing, Inc.
 
 
43
 
 
9,113
Boeing Co.(a)
 
 
48
 
 
10,994
Caterpillar, Inc.
 
 
28
 
 
24,923
Copart, Inc.(a)
 
 
102
 
 
3,377
Cummins, Inc.
 
 
4
 
 
2,684
Deere & Co.
 
 
12
 
 
7,079
Eaton Corp. PLC
 
 
18
 
 
7,794
Emerson Electric Co.
 
 
26
 
 
3,652
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
GE Vernova, Inc.
 
 
8
 
 
$8,668
General Dynamics Corp.
 
 
11
 
 
3,787
General Electric Co.
 
 
60
 
 
17,396
Honeywell International, Inc.
 
 
40
 
 
8,573
Lockheed Martin Corp.
 
 
14
 
 
7,252
Northrop Grumman Corp.
 
 
6
 
 
3,477
Parker-Hannifin Corp.
 
 
6
 
 
5,457
RTX Corp.
 
 
74
 
 
13,029
Trane Technologies PLC
 
 
10
 
 
4,925
Uber Technologies, Inc.(a)
 
 
312
 
 
23,278
Union Pacific Corp.
 
 
37
 
 
9,971
United Parcel Service, Inc. - Class B
 
 
34
 
 
3,699
Waste Management, Inc.
 
 
17
 
 
3,953
 
 
 
 
183,081
Information Technology - 33.4%(b)
 
 
 
 
Accenture PLC - Class A
 
 
92
 
 
16,441
Adobe, Inc.(a)
 
 
45
 
 
11,075
Advanced Micro Devices, Inc.(a)
 
 
72
 
 
25,523
Amphenol Corp. - Class A
 
 
46
 
 
6,774
Apple, Inc.
 
 
252
 
 
68,380
Applied Materials, Inc.
 
 
35
 
 
13,807
AppLovin Corp. - Class A(a)
 
 
35
 
 
15,622
Arista Networks, Inc.(a)
 
 
49
 
 
8,463
Autodesk, Inc.(a)
 
 
23
 
 
5,451
Broadcom, Inc.
 
 
191
 
 
79,729
Cadence Design System, Inc.(a)
 
 
29
 
 
9,558
Cisco Systems, Inc.
 
 
174
 
 
15,921
Cloudflare, Inc. - Class A(a)
 
 
28
 
 
5,739
Cognizant Technology Solutions Corp. - Class A
 
 
51
 
 
2,698
Crowdstrike Holdings, Inc. - Class A(a)
 
 
27
 
 
12,035
Datadog, Inc. - Class A(a)
 
 
37
 
 
4,891
Fortinet, Inc.(a)
 
 
66
 
 
5,565
Intel Corp.(a)
 
 
211
 
 
19,935
International Business Machines Corp.
 
 
138
 
 
31,875
Intuit, Inc.
 
 
30
 
 
11,655
KLA Corp.
 
 
6
 
 
10,502
Lam Research Corp.
 
 
55
 
 
14,182
Micron Technology, Inc.
 
 
46
 
 
23,789
Microsoft Corp.
 
 
228
 
 
92,974
NVIDIA Corp.
 
 
372
 
 
74,240
Oracle Corp.
 
 
271
 
 
43,737
Palantir Technologies, Inc. - Class A(a)
 
 
292
 
 
40,620
Palo Alto Networks, Inc.(a)
 
 
84
 
 
15,063
QUALCOMM, Inc.
 
 
44
 
 
7,902
Roper Technologies, Inc.
 
 
12
 
 
4,258
salesforce.com, Inc.
 
 
142
 
 
25,067
ServiceNow, Inc.(a)
 
 
112
 
 
9,891
Snowflake, Inc. - Class A(a)
 
 
40
 
 
5,459
Strategy, Inc. - Class A(a)
 
 
30
 
 
4,964
Synopsys, Inc.(a)
 
 
22
 
 
10,617
Texas Instruments, Inc.
 
 
40
 
 
11,243
Workday, Inc. - Class A(a)
 
 
24
 
 
2,938
 
 
 
 
768,583
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
20
 

TABLE OF CONTENTS

PACER PE/VC ETF
SCHEDULE OF INVESTMENTS
April 30, 2026 (Unaudited) (Continued)
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
COMMON STOCKS - (Continued)
Materials - 2.2%
 
 
 
 
Air Products & Chemicals, Inc.
 
 
12
 
 
$3,601
Amcor PLC
 
 
25
 
 
951
Corteva, Inc.
 
 
36
 
 
2,916
Dow, Inc.
 
 
32
 
 
1,296
Ecolab, Inc.
 
 
15
 
 
3,909
Freeport-McMoRan, Inc.
 
 
82
 
 
4,738
Linde PLC
 
 
27
 
 
13,531
Martin Marietta Materials, Inc.
 
 
4
 
 
2,476
Newmont Goldcorp Corp.
 
 
57
 
 
6,332
Nucor Corp.
 
 
10
 
 
2,253
Packaging Corp. of America
 
 
4
 
 
854
PPG Industries, Inc.
 
 
10
 
 
1,085
Sherwin-Williams Co.
 
 
14
 
 
4,502
Steel Dynamics, Inc.
 
 
7
 
 
1,601
Vulcan Materials Co.
 
 
6
 
 
1,810
 
 
 
 
51,855
Utilities - 1.0%
 
 
 
 
American Electric Power Co., Inc.
 
 
16
 
 
2,194
Constellation Energy Corp.
 
 
9
 
 
2,817
Dominion Energy, Inc.
 
 
23
 
 
1,483
Duke Energy Corp.
 
 
23
 
 
2,980
Exelon Corp.
 
 
29
 
 
1,334
NextEra Energy, Inc.
 
 
62
 
 
6,069
Sempra
 
 
18
 
 
1,712
Southern Co.
 
 
34
 
 
3,288
Vistra Corp.
 
 
9
 
 
1,420
 
 
 
 
23,297
TOTAL COMMON STOCKS
(Cost $1,869,747)
 
 
 
 
2,060,098
REAL ESTATE INVESTMENT TRUSTS - 0.2%
Real Estate - 0.2%
 
 
 
 
Prologis, Inc.
 
 
21
 
 
2,982
Welltower, Inc.
 
 
14
 
 
3,043
TOTAL REAL ESTATE INVESTMENT TRUSTS
(Cost $4,681)
 
 
 
 
6,025
TOTAL INVESTMENTS - 89.8%
(Cost $1,874,428)
 
 
 
 
$2,066,123
Other Assets in Excess of Liabilities - 10.2%
 
 
 
 
233,627
TOTAL NET ASSETS - 100.0%
 
 
 
 
$2,299,750
 
 
 
 
 
 
 
Percentages are stated as a percent of net assets.
PLC - Public Limited Company
The Global Industry Classification Standard (“GICS®”) was developed by and/or is the exclusive property of MSCI, Inc. (“MSCI”) and Standard & Poor’s Financial Services LLC (“S&P”). GICS® is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services.
(a)
Non-income producing security.
(b)
To the extent that the Fund invests more heavily in a particular industry or sector of the economy, its performance will be especially sensitive to developments that significantly affect those industries or sectors.
The accompanying notes are an integral part of these financial statements.
 
21
 

TABLE OF CONTENTS

PACER PE/VC ETF
SCHEDULE OF TOTAL RETURN SWAP CONTRACTS
April 30, 2026 (Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Reference Entity
 
 
Counterparty
 
 
Pay/
Receive
Reference
Entity
 
 
Financing
Rate
 
 
Payment
Frequency
 
 
Maturity
Date
 
 
Notional
Amount
 
 
Value/
Unrealized
Appreciation
(Depreciation)
EA16345NIP Basket
 
 
BNP Paribas Securities Corp.
 
 
Receive
 
 
SOFR + 1.00%
 
 
Termination
 
 
05/04/2026
 
 
$764,306
 
 
$55,921
EA16346NIP Basket
 
 
BNP Paribas Securities Corp.
 
 
Receive
 
 
SOFR + 1.00%
 
 
Termination
 
 
05/04/2026
 
 
2,101,182
 
 
(8,739)
Net Unrealized Appreciation (Depreciation)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$47,182
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
There are no upfront payments or receipts associated with total return swaps in the Fund as of April 30, 2026.
SOFR - Secured Overnight Financing Rate was 3.66% as of April 30, 2026.
The accompanying notes are an integral part of these financial statements.
 
22
 

TABLE OF CONTENTS

PACER S&P 500 QUALITY FCF ARISTOCRATS ETF
SCHEDULE OF INVESTMENTS
April 30, 2026 (Unaudited)
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
COMMON STOCKS - 99.9%
 
 
 
 
Communication Services - 11.0%
 
 
 
 
Alphabet, Inc. - Class C
 
 
3,493
 
 
$1,334,117
Electronic Arts, Inc.
 
 
360
 
 
72,853
Meta Platforms, Inc. - Class A
 
 
1,795
 
 
1,098,379
Trade Desk, Inc. - Class A(a)
 
 
899
 
 
21,207
 
 
 
 
2,526,556
Consumer Discretionary - 5.2%
 
 
 
 
AutoZone, Inc.(a)
 
 
27
 
 
100,009
Deckers Outdoor Corp.(a)
 
 
242
 
 
24,732
Domino’s Pizza, Inc.
 
 
68
 
 
23,081
Hilton Worldwide Holdings, Inc.
 
 
435
 
 
140,970
Lowe’s Cos., Inc.
 
 
654
 
 
156,169
Marriott International, Inc. - Class A
 
 
383
 
 
138,527
McDonald’s Corp.
 
 
1,028
 
 
301,811
NVR, Inc.(a)
 
 
4
 
 
25,264
O’Reilly Automotive, Inc.(a)
 
 
1,603
 
 
159,338
Williams-Sonoma, Inc.
 
 
202
 
 
36,604
Yum! Brands, Inc.
 
 
522
 
 
83,337
 
 
 
 
1,189,842
Consumer Staples - 5.3%
 
 
 
 
Altria Group, Inc.
 
 
5,511
 
 
400,374
Colgate-Palmolive Co.
 
 
1,417
 
 
120,955
Monster Beverage Corp.(a)
 
 
893
 
 
68,824
Philip Morris International, Inc.
 
 
3,818
 
 
630,237
 
 
 
 
1,220,390
Energy - 0.4%
 
 
 
 
Texas Pacific Land Corp.
 
 
235
 
 
104,263
Financials - 17.4%
 
 
 
 
American Express Co.
 
 
893
 
 
288,484
Capital One Financial Corp.
 
 
1,466
 
 
280,446
Cboe Global Markets, Inc.
 
 
137
 
 
41,112
CME Group, Inc.
 
 
802
 
 
230,832
Corpay, Inc.(a)
 
 
119
 
 
36,470
FactSet Research Systems, Inc.
 
 
58
 
 
13,200
Fidelity National Information Services, Inc.
 
 
776
 
 
36,107
Intercontinental Exchange, Inc.
 
 
1,018
 
 
160,936
Jack Henry & Associates, Inc.
 
 
130
 
 
19,987
Mastercard, Inc. - Class A
 
 
2,168
 
 
1,090,330
Moody’s Corp.
 
 
268
 
 
123,776
MSCI, Inc.
 
 
245
 
 
144,895
Nasdaq, Inc.
 
 
707
 
 
64,980
S&P Global, Inc.
 
 
516
 
 
222,515
Synchrony Financial
 
 
1,041
 
 
79,324
Visa, Inc. - Class A
 
 
3,558
 
 
1,173,571
 
 
 
 
4,006,965
Health Care - 15.5%
 
 
 
 
AbbVie, Inc.
 
 
4,651
 
 
982,849
Amgen, Inc.
 
 
870
 
 
301,237
Bristol-Myers Squibb Co.
 
 
3,595
 
 
217,821
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
Cardinal Health, Inc.
 
 
429
 
 
$82,746
Gilead Sciences, Inc.
 
 
2,430
 
 
317,941
IDEXX Laboratories, Inc.(a)
 
 
148
 
 
82,998
Johnson & Johnson
 
 
3,266
 
 
750,690
McKesson Corp.
 
 
228
 
 
185,866
Merck & Co., Inc.
 
 
2,957
 
 
322,845
Mettler-Toledo International, Inc.(a)
 
 
47
 
 
60,001
Regeneron Pharmaceuticals, Inc.
 
 
183
 
 
129,392
ResMed, Inc.
 
 
176
 
 
37,631
Waters Corp.(a)
 
 
109
 
 
33,706
Zoetis, Inc.
 
 
503
 
 
57,830
 
 
 
 
3,563,553
Industrials - 3.5%
 
 
 
 
A O Smith Corp.
 
 
163
 
 
10,080
Automatic Data Processing, Inc.
 
 
1,066
 
 
225,928
Cintas Corp.
 
 
437
 
 
76,348
Comfort Systems USA, Inc.
 
 
39
 
 
71,770
Copart, Inc.(a)
 
 
1,168
 
 
38,673
Expeditors International of Washington, Inc.
 
 
199
 
 
29,430
Fastenal Co.
 
 
1,302
 
 
58,499
Illinois Tool Works, Inc.
 
 
332
 
 
85,659
Lennox International, Inc.
 
 
36
 
 
19,256
Masco Corp.
 
 
250
 
 
17,955
Paychex, Inc.
 
 
907
 
 
84,015
Rollins, Inc.
 
 
434
 
 
24,187
Verisk Analytics, Inc.
 
 
312
 
 
57,561
 
 
 
 
799,361
Information Technology - 41.6%(b)
 
 
 
 
Accenture PLC - Class A
 
 
763
 
 
136,356
Adobe, Inc.(a)
 
 
1,058
 
 
260,374
Akamai Technologies, Inc.(a)
 
 
124
 
 
12,770
Analog Devices, Inc.
 
 
475
 
 
191,074
Apple, Inc.
 
 
4,246
 
 
1,152,152
Applied Materials, Inc.
 
 
962
 
 
379,499
Arista Networks, Inc.(a)
 
 
1,566
 
 
270,464
Broadcom, Inc.
 
 
3,136
 
 
1,309,060
Cadence Design System, Inc.(a)
 
 
412
 
 
135,791
Cisco Systems, Inc.
 
 
4,684
 
 
428,586
F5, Inc.(a)
 
 
58
 
 
18,786
Fair Isaac Corp.(a)
 
 
58
 
 
59,450
Fortinet, Inc.(a)
 
 
1,510
 
 
127,308
Gartner, Inc.(a)
 
 
105
 
 
15,591
GoDaddy, Inc. - Class A(a)
 
 
199
 
 
17,271
HP, Inc.
 
 
1,199
 
 
25,011
Intuit, Inc.
 
 
457
 
 
177,545
Keysight Technologies, Inc.(a)
 
 
140
 
 
48,987
KLA Corp.
 
 
235
 
 
411,332
Lam Research Corp.
 
 
1,879
 
 
484,519
Microchip Technology, Inc.
 
 
561
 
 
52,123
Microsoft Corp.
 
 
2,937
 
 
1,197,650
Monolithic Power Systems, Inc.
 
 
44
 
 
71,034
Motorola Solutions, Inc.
 
 
183
 
 
80,343
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
23
 

TABLE OF CONTENTS

PACER S&P 500 QUALITY FCF ARISTOCRATS ETF
SCHEDULE OF INVESTMENTS
April 30, 2026 (Unaudited) (Continued)
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
COMMON STOCKS - (Continued)
Information Technology - (Continued)
NetApp, Inc.
 
 
289
 
 
$32,013
NVIDIA Corp.
 
 
6,038
 
 
1,205,004
Palo Alto Networks, Inc.(a)
 
 
1,923
 
 
344,832
PTC, Inc.(a)
 
 
119
 
 
16,220
QUALCOMM, Inc.
 
 
1,642
 
 
294,870
Roper Technologies, Inc.
 
 
95
 
 
33,707
salesforce.com, Inc.
 
 
982
 
 
173,352
ServiceNow, Inc.(a)
 
 
1,966
 
 
173,617
Skyworks Solutions, Inc.
 
 
194
 
 
13,613
Synopsys, Inc.(a)
 
 
212
 
 
102,311
Teradyne, Inc.
 
 
116
 
 
39,843
VeriSign, Inc.
 
 
108
 
 
29,015
Workday, Inc. - Class A(a)
 
 
271
 
 
33,170
 
 
 
 
9,554,643
TOTAL COMMON STOCKS
(Cost $21,771,407)
 
 
 
 
22,965,573
TOTAL INVESTMENTS - 99.9%
(Cost $21,771,407)
 
 
 
 
$22,965,573
Other Assets in Excess of
Liabilities - 0.1%
 
 
 
 
19,802
TOTAL NET ASSETS - 100.0%
 
 
 
 
$22,985,375
 
 
 
 
 
 
 
Percentages are stated as a percent of net assets.
PLC - Public Limited Company
The Global Industry Classification Standard (“GICS®”) was developed by and/or is the exclusive property of MSCI, Inc. (“MSCI”) and Standard & Poor’s Financial Services LLC (“S&P”). GICS® is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services.
(a)
Non-income producing security.
(b)
To the extent that the Fund invests more heavily in a particular industry or sector of the economy, its performance will be especially sensitive to developments that significantly affect those industries or sectors.
The accompanying notes are an integral part of these financial statements.
 
24
 

TABLE OF CONTENTS

PACER S&P 500 QUALITY FCF HIGH DIVIDEND ETF
SCHEDULE OF INVESTMENTS
April 30, 2026 (Unaudited)
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
COMMON STOCKS - 99.8%
 
 
 
 
Communication Services - 3.8%
 
 
 
 
AT&T, Inc.
 
 
246
 
 
$6,428
Comcast Corp. - Class A
 
 
263
 
 
7,112
Omnicom Group, Inc.
 
 
84
 
 
6,444
 
 
 
 
19,984
Consumer Discretionary - 6.0%
 
 
 
 
Best Buy Co., Inc.
 
 
158
 
 
9,557
Darden Restaurants, Inc.
 
 
25
 
 
5,014
eBay, Inc.
 
 
28
 
 
2,898
Hasbro, Inc.
 
 
54
 
 
5,175
NIKE, Inc. - Class B
 
 
117
 
 
5,190
Pool Corp.
 
 
19
 
 
4,053
 
 
 
 
31,887
Consumer Staples - 15.0%
 
 
 
 
Altria Group, Inc.
 
 
141
 
 
10,244
Brown-Forman Corp. - Class B
 
 
223
 
 
5,747
Campbell’s Co.
 
 
533
 
 
11,081
Clorox Co.
 
 
65
 
 
6,269
Coca-Cola Co.
 
 
66
 
 
5,198
Colgate-Palmolive Co.
 
 
42
 
 
3,585
Constellation Brands, Inc. - Class A
 
 
28
 
 
4,384
Estee Lauder Cos., Inc. - Class A
 
 
34
 
 
2,608
General Mills, Inc.
 
 
259
 
 
9,145
Hershey Co.
 
 
19
 
 
3,529
Kimberly-Clark Corp.
 
 
81
 
 
7,973
PepsiCo, Inc.
 
 
35
 
 
5,547
Procter & Gamble Co.
 
 
30
 
 
4,413
 
 
 
 
79,723
Energy - 8.1%
 
 
 
 
Chevron Corp.
 
 
31
 
 
5,993
ConocoPhillips
 
 
36
 
 
4,528
Coterra Energy, Inc.
 
 
172
 
 
6,176
Devon Energy Corp.
 
 
91
 
 
4,675
EOG Resources, Inc.
 
 
36
 
 
5,061
Exxon Mobil Corp.
 
 
28
 
 
4,321
Occidental Petroleum Corp.
 
 
48
 
 
2,908
Valero Energy Corp.
 
 
14
 
 
3,536
Williams Cos., Inc.
 
 
79
 
 
6,028
 
 
 
 
43,226
Financials - 21.8%
 
 
 
 
American International Group, Inc.
 
 
49
 
 
3,665
Capital One Financial Corp.
 
 
14
 
 
2,678
Citizens Financial Group, Inc.
 
 
83
 
 
5,399
CME Group, Inc.
 
 
9
 
 
2,590
FactSet Research Systems, Inc.
 
 
16
 
 
3,641
Fidelity National Information Services, Inc.
 
 
118
 
 
5,491
Fifth Third Bancorp
 
 
121
 
 
6,142
Huntington Bancshares, Inc.
 
 
418
 
 
7,006
KeyCorp.
 
 
342
 
 
7,562
M&T Bank Corp.
 
 
23
 
 
5,029
Marsh & McLennan Cos., Inc.
 
 
19
 
 
3,186
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
MetLife, Inc.
 
 
75
 
 
$6,008
Northern Trust Corp.
 
 
32
 
 
5,323
PNC Financial Services Group, Inc.
 
 
25
 
 
5,575
Prudential Financial, Inc.
 
 
103
 
 
10,105
Regions Financial Corp.
 
 
255
 
 
7,280
Synchrony Financial
 
 
44
 
 
3,353
T Rowe Price Group, Inc.
 
 
105
 
 
10,802
Truist Financial Corp.
 
 
162
 
 
8,343
US Bancorp
 
 
121
 
 
6,856
 
 
 
 
116,034
Health Care - 8.1%
 
 
 
 
Abbott Laboratories
 
 
36
 
 
3,268
Amgen, Inc.
 
 
13
 
 
4,501
Bristol-Myers Squibb Co.
 
 
119
 
 
7,210
Gilead Sciences, Inc.
 
 
33
 
 
4,318
Johnson & Johnson
 
 
15
 
 
3,448
Merck & Co., Inc.
 
 
39
 
 
4,258
Pfizer, Inc.
 
 
395
 
 
10,547
Quest Diagnostics, Inc.
 
 
14
 
 
2,719
Zoetis, Inc.
 
 
25
 
 
2,874
 
 
 
 
43,143
Industrials - 13.0%
 
 
 
 
3M Co.
 
 
22
 
 
3,223
A O Smith Corp.
 
 
53
 
 
3,278
Allegion PLC
 
 
21
 
 
2,887
Automatic Data Processing, Inc.
 
 
32
 
 
6,782
Broadridge Financial Solutions, Inc.
 
 
22
 
 
3,388
CH Robinson Worldwide, Inc.
 
 
14
 
 
2,545
Fastenal Co.
 
 
69
 
 
3,100
Honeywell International, Inc.
 
 
14
 
 
3,001
IDEX Corp.
 
 
13
 
 
2,832
Illinois Tool Works, Inc.
 
 
15
 
 
3,870
Lockheed Martin Corp.
 
 
6
 
 
3,108
Paychex, Inc.
 
 
87
 
 
8,059
Rockwell Automation, Inc.
 
 
6
 
 
2,454
Snap-On, Inc.
 
 
11
 
 
4,217
Union Pacific Corp.
 
 
15
 
 
4,042
United Parcel Service, Inc. - Class B
 
 
113
 
 
12,294
 
 
 
 
69,080
Information Technology - 6.9%
 
 
 
 
Accenture PLC - Class A
 
 
27
 
 
4,825
Cisco Systems, Inc.
 
 
42
 
 
3,843
Microchip Technology, Inc.
 
 
70
 
 
6,504
NetApp, Inc.
 
 
36
 
 
3,988
QUALCOMM, Inc.
 
 
36
 
 
6,465
Skyworks Solutions, Inc.
 
 
153
 
 
10,736
 
 
 
 
36,361
Materials - 5.5%
 
 
 
 
Avery Dennison Corp.
 
 
21
 
 
3,443
CF Industries Holdings, Inc.
 
 
21
 
 
2,608
DuPont de Nemours, Inc.
 
 
95
 
 
4,338
Linde PLC
 
 
5
 
 
2,506
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
25
 

TABLE OF CONTENTS

PACER S&P 500 QUALITY FCF HIGH DIVIDEND ETF
SCHEDULE OF INVESTMENTS
April 30, 2026 (Unaudited) (Continued)
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
COMMON STOCKS - (Continued)
Materials - (Continued)
LyondellBasell Industries NV - Class A
 
 
150
 
 
$11,190
Packaging Corp. of America
 
 
23
 
 
4,909
 
 
 
 
28,994
Utilities - 11.6%
 
 
 
 
CMS Energy Corp.
 
 
60
 
 
4,604
Consolidated Edison, Inc.
 
 
44
 
 
4,906
DTE Energy Co.
 
 
33
 
 
5,006
Duke Energy Corp.
 
 
41
 
 
5,312
Evergy, Inc.
 
 
66
 
 
5,467
Eversource Energy
 
 
100
 
 
7,070
FirstEnergy Corp.
 
 
114
 
 
5,417
NiSource, Inc.
 
 
84
 
 
4,056
PPL Corp.
 
 
123
 
 
4,605
Public Service Enterprise Group, Inc.
 
 
62
 
 
5,063
Southern Co.
 
 
52
 
 
5,028
WEC Energy Group, Inc.
 
 
44
 
 
5,189
 
 
 
 
61,723
TOTAL COMMON STOCKS
(Cost $528,017)
 
 
 
 
530,155
TOTAL INVESTMENTS - 99.8%
(Cost $528,017)
 
 
 
 
$530,155
Other Assets in Excess of Liabilities - 0.2%
 
 
 
 
1,150
TOTAL NET ASSETS - 100.0%
 
 
 
 
$531,305
 
 
 
 
 
 
 
Percentages are stated as a percent of net assets.
PLC - Public Limited Company
The Global Industry Classification Standard (“GICS®”) was developed by and/or is the exclusive property of MSCI, Inc. (“MSCI”) and Standard & Poor’s Financial Services LLC (“S&P”). GICS® is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services.
The accompanying notes are an integral part of these financial statements.
 
26
 

TABLE OF CONTENTS

PACER S&P 500 QUALITY FCF R&D LEADERS ETF
SCHEDULE OF INVESTMENTS
April 30, 2026 (Unaudited)
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
COMMON STOCKS - 99.9%
 
 
 
 
Communication Services - 8.8%
 
 
 
 
Alphabet, Inc. - Class C
 
 
37
 
 
$14,132
Electronic Arts, Inc.
 
 
152
 
 
30,760
Meta Platforms, Inc. - Class A
 
 
40
 
 
24,477
Trade Desk, Inc. - Class A(a)
 
 
848
 
 
20,004
 
 
 
 
89,373
Consumer Discretionary - 4.4%
 
 
 
 
Airbnb, Inc. - Class A(a)
 
 
130
 
 
18,247
eBay, Inc.
 
 
122
 
 
12,624
Garmin Ltd.
 
 
55
 
 
13,813
 
 
 
 
44,684
Financials - 3.5%
 
 
 
 
Coinbase Global, Inc. - Class A(a)
 
 
186
 
 
34,925
Health Care - 25.1%(b)
 
 
 
 
Amgen, Inc.
 
 
45
 
 
15,581
Biogen, Inc.(a)
 
 
107
 
 
20,253
Bristol-Myers Squibb Co.
 
 
310
 
 
18,783
DexCom, Inc.(a)
 
 
214
 
 
12,744
Edwards Lifesciences Corp.(a)
 
 
199
 
 
16,617
Eli Lilly & Co.
 
 
23
 
 
21,496
Gilead Sciences, Inc.
 
 
119
 
 
15,570
Incyte Corp.(a)
 
 
340
 
 
32,392
Johnson & Johnson
 
 
64
 
 
14,710
Merck & Co., Inc.
 
 
179
 
 
19,543
Pfizer, Inc.
 
 
466
 
 
12,442
Regeneron Pharmaceuticals, Inc.
 
 
34
 
 
24,040
Vertex Pharmaceuticals, Inc.(a)
 
 
70
 
 
29,917
 
 
 
 
254,088
Information Technology - 58.1%(b)
 
 
 
 
Adobe, Inc.(a)
 
 
64
 
 
15,750
Advanced Micro Devices, Inc.(a)
 
 
87
 
 
30,841
Analog Devices, Inc.
 
 
37
 
 
14,884
Arista Networks, Inc.(a)
 
 
93
 
 
16,062
Autodesk, Inc.(a)
 
 
89
 
 
21,093
Broadcom, Inc.
 
 
40
 
 
16,697
Cadence Design System, Inc.(a)
 
 
113
 
 
37,244
Cisco Systems, Inc.
 
 
145
 
 
13,267
Crowdstrike Holdings, Inc. - Class A(a)
 
 
57
 
 
25,408
Datadog, Inc. - Class A(a)
 
 
280
 
 
37,013
F5, Inc.(a)
 
 
54
 
 
17,490
GoDaddy, Inc. - Class A(a)
 
 
201
 
 
17,445
Intuit, Inc.
 
 
38
 
 
14,763
Keysight Technologies, Inc.(a)
 
 
47
 
 
16,446
Microchip Technology, Inc.
 
 
211
 
 
19,604
Monolithic Power Systems, Inc.
 
 
9
 
 
14,530
NetApp, Inc.
 
 
128
 
 
14,178
NVIDIA Corp.
 
 
75
 
 
14,968
NXP Semiconductors NV
 
 
75
 
 
22,019
Palantir Technologies, Inc. - Class A(a)
 
 
115
 
 
15,998
Palo Alto Networks, Inc.(a)
 
 
122
 
 
21,877
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
PTC, Inc.(a)
 
 
107
 
 
$14,584
QUALCOMM, Inc.
 
 
150
 
 
26,937
salesforce.com, Inc.
 
 
73
 
 
12,887
ServiceNow, Inc.(a)
 
 
217
 
 
19,163
Skyworks Solutions, Inc.
 
 
213
 
 
14,946
Synopsys, Inc.(a)
 
 
78
 
 
37,643
Teradyne, Inc.
 
 
34
 
 
11,678
Workday, Inc. - Class A(a)
 
 
260
 
 
31,824
 
 
 
 
587,239
TOTAL COMMON STOCKS
(Cost $1,038,961)
 
 
 
 
1,010,309
TOTAL INVESTMENTS - 99.9%
(Cost $1,038,961)
 
 
 
 
$1,010,309
Other Assets in Excess of Liabilities - 0.1%
 
 
 
 
601
TOTAL NET ASSETS - 100.0%
 
 
 
 
$1,010,910
 
 
 
 
 
 
 
Percentages are stated as a percent of net assets.
The Global Industry Classification Standard (“GICS®”) was developed by and/or is the exclusive property of MSCI, Inc. (“MSCI”) and Standard & Poor’s Financial Services LLC (“S&P”). GICS® is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services.
(a)
Non-income producing security.
(b)
To the extent that the Fund invests more heavily in a particular industry or sector of the economy, its performance will be especially sensitive to developments that significantly affect those industries or sectors.
The accompanying notes are an integral part of these financial statements.
 
27
 

TABLE OF CONTENTS

PACER S&P MIDCAP 400 QUALITY FCF ARISTOCRATS ETF
SCHEDULE OF INVESTMENTS
April 30, 2026 (Unaudited)
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
COMMON STOCKS - 99.9%
 
 
 
 
Communication Services - 2.6%
 
 
 
 
New York Times Co. - Class A
 
 
191
 
 
$15,095
Nexstar Media Group, Inc.
 
 
33
 
 
6,868
Warner Music Group Corp. - Class A
 
 
118
 
 
3,336
 
 
 
 
25,299
Consumer Discretionary - 7.9%
 
 
 
 
Bath & Body Works, Inc.
 
 
287
 
 
5,579
Boyd Gaming Corp.
 
 
56
 
 
4,869
Choice Hotels International, Inc.
 
 
37
 
 
3,666
Crocs, Inc.(a)
 
 
92
 
 
9,382
Gentex Corp.
 
 
248
 
 
5,731
Grand Canyon Education, Inc.(a)
 
 
52
 
 
8,792
H&R Block, Inc.
 
 
226
 
 
7,171
TopBuild Corp.(a)
 
 
25
 
 
11,068
Vail Resorts, Inc.
 
 
30
 
 
3,816
Wingstop, Inc.
 
 
35
 
 
5,742
Wyndham Hotels & Resorts, Inc.
 
 
105
 
 
8,545
YETI Holdings, Inc.(a)
 
 
85
 
 
3,354
 
 
 
 
77,715
Consumer Staples - 1.6%
 
 
 
 
BellRing Brands, Inc.(a)
 
 
216
 
 
3,845
Coca-Cola Consolidated, Inc.
 
 
58
 
 
11,894
 
 
 
 
15,739
Energy - 4.1%
 
 
 
 
Antero Midstream Corp.
 
 
765
 
 
16,723
DT Midstream, Inc.
 
 
164
 
 
24,270
 
 
 
 
40,993
Financials - 4.3%
 
 
 
 
Essent Group Ltd.
 
 
228
 
 
13,799
Euronet Worldwide, Inc.(a)
 
 
45
 
 
3,257
MGIC Investment Corp.
 
 
512
 
 
13,558
Morningstar, Inc.
 
 
25
 
 
4,218
Voya Financial, Inc.
 
 
88
 
 
7,212
 
 
 
 
42,044
Health Care - 14.1%
 
 
 
 
Chemed Corp.
 
 
23
 
 
9,774
Doximity, Inc. - Class A(a)
 
 
523
 
 
12,782
Exelixis, Inc.(a)
 
 
528
 
 
23,475
Globus Medical, Inc. - Class A(a)
 
 
90
 
 
8,116
HealthEquity, Inc.(a)
 
 
113
 
 
9,269
Jazz Pharmaceuticals PLC(a)
 
 
105
 
 
21,317
Lantheus Holdings, Inc.(a)
 
 
69
 
 
5,839
Medpace Holdings, Inc.(a)
 
 
66
 
 
27,632
Neurocrine Biosciences, Inc.(a)
 
 
162
 
 
21,331
 
 
 
 
139,535
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
Industrials - 29.5%(b)
 
 
 
 
Acuity, Inc.
 
 
30
 
 
$8,693
Advanced Drainage Systems, Inc.
 
 
87
 
 
12,985
Carlisle Cos., Inc.
 
 
54
 
 
19,184
Curtiss-Wright Corp.
 
 
32
 
 
23,046
Donaldson Co., Inc.
 
 
106
 
 
9,346
ExlService Holdings, Inc.(a)
 
 
163
 
 
5,196
Exponent, Inc.
 
 
112
 
 
7,492
Genpact Ltd.
 
 
154
 
 
5,352
Graco, Inc.
 
 
255
 
 
20,469
Landstar System, Inc.
 
 
52
 
 
9,572
Lincoln Electric Holdings, Inc.
 
 
63
 
 
16,695
Mueller Industries, Inc.
 
 
184
 
 
24,919
nVent Electric PLC
 
 
126
 
 
18,005
Owens Corning
 
 
75
 
 
9,251
Paylocity Holding Corp.(a)
 
 
113
 
 
11,920
RB Global, Inc.
 
 
181
 
 
18,878
Simpson Manufacturing Co., Inc.
 
 
34
 
 
6,485
Sterling Infrastructure, Inc.(a)
 
 
53
 
 
27,328
Tetra Tech, Inc.
 
 
243
 
 
7,854
UL Solutions, Inc.
 
 
78
 
 
7,058
Watsco, Inc.
 
 
30
 
 
13,135
Watts Water Technologies, Inc. - Class A
 
 
27
 
 
8,104
 
 
 
 
290,967
Information Technology - 33.9%(b)
 
 
 
 
Appfolio, Inc. - Class A(a)
 
 
36
 
 
6,015
Bentley Systems, Inc. - Class B
 
 
300
 
 
9,786
Blackbaud, Inc.(a)
 
 
58
 
 
2,156
Cirrus Logic, Inc.(a)
 
 
80
 
 
13,046
Cognex Corp.
 
 
200
 
 
11,102
Commvault Systems, Inc.(a)
 
 
130
 
 
12,854
Crane NXT Co.
 
 
56
 
 
2,502
Docusign, Inc.(a)
 
 
689
 
 
31,687
Dolby Laboratories, Inc. - Class A
 
 
102
 
 
6,542
Dropbox, Inc. - Class A(a)
 
 
640
 
 
15,546
Everpure, Inc. - Class A(a)
 
 
670
 
 
47,872
InterDigital, Inc.
 
 
65
 
 
19,276
Lattice Semiconductor Corp.(a)
 
 
307
 
 
37,540
Littelfuse, Inc.
 
 
20
 
 
8,084
Manhattan Associates, Inc.(a)
 
 
201
 
 
27,716
Okta, Inc.(a)
 
 
149
 
 
10,974
Onto Innovation, Inc.(a)
 
 
51
 
 
15,048
Qualys, Inc.(a)
 
 
147
 
 
12,779
Rambus, Inc.(a)
 
 
264
 
 
30,389
Synaptics, Inc.(a)
 
 
40
 
 
3,744
Universal Display Corp.
 
 
55
 
 
4,790
Vontier Corp.
 
 
115
 
 
4,126
 
 
 
 
333,574
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
28
 

TABLE OF CONTENTS

PACER S&P MIDCAP 400 QUALITY FCF ARISTOCRATS ETF
SCHEDULE OF INVESTMENTS
April 30, 2026 (Unaudited) (Continued)
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
COMMON STOCKS - (Continued)
Materials - 1.9%
 
 
 
 
Eagle Materials, Inc.
 
 
46
 
 
$9,665
NewMarket Corp.
 
 
8
 
 
5,405
Olin Corp.
 
 
121
 
 
3,446
 
 
 
 
18,516
TOTAL COMMON STOCKS
(Cost $1,031,820)
 
 
 
 
984,382
TOTAL INVESTMENTS - 99.9%
(Cost $1,031,820)
 
 
 
 
$984,382
Other Assets in Excess of Liabilities - 0.1%
 
 
 
 
539
TOTAL NET ASSETS - 100.0%
 
 
 
 
$984,921
 
 
 
 
 
 
 
Percentages are stated as a percent of net assets.
PLC - Public Limited Company
The Global Industry Classification Standard (“GICS®”) was developed by and/or is the exclusive property of MSCI, Inc. (“MSCI”) and Standard & Poor’s Financial Services LLC (“S&P”). GICS® is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services.
(a)
Non-income producing security.
(b)
To the extent that the Fund invests more heavily in a particular industry or sector of the economy, its performance will be especially sensitive to developments that significantly affect those industries or sectors.
The accompanying notes are an integral part of these financial statements.
 
29
 

TABLE OF CONTENTS

PACER S&P SMALLCAP 600 QUALITY FCF ARISTOCRATS ETF
SCHEDULE OF INVESTMENTS
April 30, 2026 (Unaudited)
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
COMMON STOCKS - 100.0%
 
 
 
 
Communication Services - 9.3%
 
 
Cargurus, Inc.(a)
 
 
623
 
 
$22,714
DoubleVerify Holdings, Inc.(a)
 
 
488
 
 
5,378
Iridium Communications, Inc.
 
 
568
 
 
22,192
Match Group, Inc.
 
 
1,646
 
 
61,593
YELP, Inc.(a)
 
 
492
 
 
13,579
Ziff Davis, Inc.(a)
 
 
154
 
 
7,047
ZoomInfo Technologies, Inc.(a)
 
 
1,731
 
 
10,819
 
 
 
 
143,322
Consumer Discretionary - 17.6%
 
 
ADT, Inc.
 
 
1,920
 
 
14,458
Buckle, Inc.
 
 
260
 
 
14,459
Cavco Industries, Inc.(a)
 
 
33
 
 
16,731
Champion Homes, Inc.(a)
 
 
297
 
 
22,640
Etsy, Inc.(a)
 
 
992
 
 
63,825
Frontdoor, Inc.(a)
 
 
359
 
 
24,638
Installed Building Products, Inc.
 
 
75
 
 
21,641
Kontoor Brands, Inc.
 
 
289
 
 
21,201
Perdoceo Education Corp.
 
 
386
 
 
13,101
Signet Jewelers Ltd.
 
 
166
 
 
14,779
Steven Madden Ltd.
 
 
286
 
 
10,742
Stride, Inc.(a)
 
 
176
 
 
17,100
Winmark Corp.
 
 
43
 
 
16,361
 
 
 
 
​271,676
Consumer Staples - 0.5%
 
 
National Beverage Corp.(a)
 
 
203
 
 
6,947
Energy - 9.6%
 
 
Cactus, Inc. - Class A
 
 
345
 
 
19,223
California Resources Corp.
 
 
334
 
 
22,799
Core Natural Resources, Inc.
 
 
343
 
 
30,781
Dorian LPG Ltd.
 
 
301
 
 
11,604
Magnolia Oil & Gas Corp. - Class A
 
 
2,102
 
 
63,564
 
 
 
 
147,971
Financials - 21.2%
 
 
Bread Financial Holdings, Inc.
 
 
523
 
 
44,340
Donnelley Financial Solutions, Inc.(a)
 
 
123
 
 
6,187
Enact Holdings, Inc.
 
 
269
 
 
11,494
Enova International, Inc.(a)
 
 
314
 
 
53,195
EVERTEC, Inc.
 
 
433
 
 
12,787
Jackson Financial, Inc. - Class A
 
 
678
 
 
78,492
MarketAxess Holdings, Inc.
 
 
376
 
 
59,104
Navient Corp.
 
 
524
 
 
4,842
NMI Holdings, Inc.(a)
 
 
806
 
 
31,200
PROG Holdings, Inc.
 
 
168
 
 
6,019
Western Union Co.
 
 
1,649
 
 
14,989
World Acceptance Corp.(a)
 
 
30
 
 
4,415
 
 
 
 
327,064
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
Health Care - 9.5%
 
 
AMN Healthcare Services, Inc.(a)
 
 
149
 
 
$3,050
Amphastar Pharmaceuticals, Inc.(a)
 
 
139
 
 
3,052
Certara, Inc.(a)
 
 
437
 
 
2,679
Collegium Pharmaceutical, Inc.(a)
 
 
299
 
 
10,085
Corcept Therapeutics, Inc.(a)
 
 
912
 
 
42,426
CorVel Corp.(a)
 
 
201
 
 
11,549
Embecta Corp.
 
 
477
 
 
4,365
HealthStream, Inc.
 
 
121
 
 
2,512
Innoviva, Inc.(a)
 
 
851
 
 
19,565
LeMaitre Vascular, Inc.
 
 
77
 
 
8,451
Organon & Co.
 
 
980
 
 
12,985
Pacira BioSciences, Inc.(a)
 
 
151
 
 
3,849
Prestige Brands Holdings, Inc.(a)
 
 
201
 
 
11,320
Supernus Pharmaceuticals, Inc.(a)
 
 
216
 
 
10,368
 
 
 
 
146,256
Industrials - 11.4%
 
 
Boise Cascade Co.
 
 
141
 
 
11,177
Brady Corp. - Class A
 
 
149
 
 
12,191
CSW Industrials, Inc.
 
 
65
 
 
18,928
Kadant, Inc.
 
 
41
 
 
12,018
Korn/Ferry International
 
 
187
 
 
12,424
Legalzoom.com, Inc.(a)
 
 
991
 
 
6,392
Paycom Software, Inc.
 
 
323
 
 
40,944
Robert Half, Inc.
 
 
702
 
 
18,680
Verra Mobility Corp.(a)
 
 
669
 
 
9,921
Zurn Elkay Water Solutions Corp.
 
 
633
 
 
32,891
 
 
 
 
175,566
Information Technology - 19.5%
 
 
Adeia, Inc.
 
 
944
 
 
30,066
Agilysys, Inc.(a)
 
 
161
 
 
10,314
Badger Meter, Inc.
 
 
175
 
 
21,159
BlackLine, Inc.(a)
 
 
198
 
 
6,188
Box, Inc. - Class A(a)
 
 
1,662
 
 
40,220
CTS Corp.
 
 
116
 
 
6,624
Enphase Energy, Inc.(a)
 
 
1,113
 
 
36,684
Extreme Networks, Inc.(a)
 
 
945
 
 
20,875
Kulicke & Soffa Industries, Inc.
 
 
201
 
 
17,186
Napco Security Technologies, Inc.
 
 
216
 
 
10,098
NetScout Systems, Inc.(a)
 
 
261
 
 
8,796
Power Integrations, Inc.
 
 
262
 
 
19,050
Progress Software Corp.(a)
 
 
244
 
 
6,795
Qorvo, Inc.(a)
 
 
331
 
 
31,187
SPS Commerce, Inc.(a)
 
 
215
 
 
12,066
Teradata Corp.(a)
 
 
924
 
 
24,347
 
 
 
 
301,655
Materials - 0.3%
 
 
Sylvamo Corp.
 
 
124
 
 
5,299
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
30
 

TABLE OF CONTENTS

PACER S&P SMALLCAP 600 QUALITY FCF ARISTOCRATS ETF
SCHEDULE OF INVESTMENTS
April 30, 2026 (Unaudited) (Continued)
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
COMMON STOCKS - (Continued)
 
 
 
 
Utilities - 1.1%
 
 
Clearway Energy, Inc. - Class C
 
 
422
 
 
$17,032
TOTAL COMMON STOCKS
(Cost $1,494,206)
 
 
 
 
1,542,788
TOTAL INVESTMENTS - 100.0%
(Cost $1,494,206)
 
 
 
 
$1,542,788
Other Assets in Excess of
Liabilities - (0.0)%(b)
 
 
 
 
598
TOTAL NET ASSETS - 100.0%
 
 
 
 
$1,543,386
 
 
 
 
 
 
 
Percentages are stated as a percent of net assets.
The Global Industry Classification Standard (“GICS®”) was developed by and/or is the exclusive property of MSCI, Inc. (“MSCI”) and Standard & Poor’s Financial Services LLC (“S&P”). GICS® is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services.
(a)
Non-income producing security.
(b)
Represents less than 0.05% of net assets.
The accompanying notes are an integral part of these financial statements.
 
31
 

TABLE OF CONTENTS

PACER SOLACTIVE WHITNEY FUTURE OF WARFARE ETF
SCHEDULE OF INVESTMENTS
April 30, 2026 (Unaudited)
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
COMMON STOCKS - 99.8%
 
 
 
 
Communication Services - 5.8%
 
 
 
 
Alphabet, Inc. - Class A
 
 
303
 
 
$116,594
AT&T, Inc.
 
 
4,064
 
 
106,192
BCE, Inc.
 
 
4,028
 
 
95,529
BT Group PLC
 
 
38,940
 
 
114,584
Charter Communications, Inc. - Class A(a)
 
 
533
 
 
88,036
Deutsche Telekom AG
 
 
3,123
 
 
101,001
Verizon Communications, Inc.
 
 
2,569
 
 
123,389
Vodafone Group PLC
 
 
69,409
 
 
110,585
 
 
 
 
855,910
Consumer Discretionary - 2.0%
 
 
 
 
Amazon.com, Inc.(a)
 
 
423
 
 
112,120
Continental AG
 
 
1,276
 
 
96,065
General Motors Co.
 
 
1,177
 
 
90,500
 
 
 
 
298,685
Industrials - 64.1%(b)
 
 
 
 
Airbus Group SE
 
 
440
 
 
90,263
AMETEK, Inc.
 
 
453
 
 
106,682
BAE Systems PLC
 
 
21,210
 
 
588,670
Boeing Co.(a)
 
 
4,847
 
 
1,110,108
Bouygues SA
 
 
1,876
 
 
110,648
CAE, Inc.(a)
 
 
3,104
 
 
80,958
Carrier Global Corp.
 
 
1,708
 
 
114,726
Dover Corp.
 
 
505
 
 
114,337
Emerson Electric Co.
 
 
678
 
 
95,218
Experian PLC
 
 
2,739
 
 
100,081
Ferrovial SE
 
 
1,519
 
 
104,132
Fortive Corp.
 
 
1,924
 
 
115,036
General Dynamics Corp.
 
 
3,241
 
 
1,115,876
Honeywell International, Inc.
 
 
1,141
 
 
244,551
Howmet Aerospace, Inc.
 
 
489
 
 
118,847
Illinois Tool Works, Inc.
 
 
387
 
 
99,850
Ingersoll Rand, Inc.
 
 
1,149
 
 
91,759
Johnson Controls International PLC
 
 
850
 
 
124,126
Kongsberg Gruppen ASA
 
 
3,042
 
 
101,372
Kongsberg Maritime AS(a)
 
 
3,042
 
 
19,856
L3Harris Technologies, Inc.
 
 
1,495
 
 
479,222
Leidos Holdings, Inc.
 
 
2,056
 
 
306,796
Leonardo SpA
 
 
1,679
 
 
104,425
Lockheed Martin Corp.
 
 
1,822
 
 
943,741
MTU Aero Engines AG
 
 
231
 
 
78,935
Northrop Grumman Corp.
 
 
1,422
 
 
824,021
Parker-Hannifin Corp.
 
 
108
 
 
98,217
Rheinmetall AG
 
 
48
 
 
76,340
Rockwell Automation, Inc.
 
 
239
 
 
97,730
Rolls-Royce Holdings PLC
 
 
6,146
 
 
98,714
RTX Corp.
 
 
5,675
 
 
999,197
Saab AB
 
 
1,296
 
 
78,444
Safran SA
 
 
288
 
 
92,230
Smiths Group PLC
 
 
2,941
 
 
101,667
Thales SA
 
 
333
 
 
91,367
Trane Technologies PLC
 
 
240
 
 
118,210
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
TransDigm Group, Inc.
 
 
72
 
 
$83,519
Vertiv Holdings Co. - Class A
 
 
524
 
 
172,129
 
 
 
 
9,492,000
Information Technology - 27.1%(b)
 
 
 
 
Adobe, Inc.(a)
 
 
349
 
 
85,889
Arista Networks, Inc.(a)
 
 
685
 
 
118,306
Cadence Design System, Inc.(a)
 
 
337
 
 
111,072
Cellebrite DI Ltd.(a)
 
 
6,646
 
 
86,398
CGI, Inc.
 
 
1,198
 
 
78,256
Cisco Systems, Inc.
 
 
1,300
 
 
118,950
Cloudflare, Inc. - Class A(a)
 
 
568
 
 
116,423
Cognizant Technology Solutions Corp. - Class A
 
 
1,231
 
 
65,120
Constellation Software, Inc.
 
 
54
 
 
98,149
Corning, Inc.
 
 
993
 
 
163,090
Crowdstrike Holdings, Inc. - Class A(a)
 
 
230
 
 
102,522
Dassault Systemes SE
 
 
3,717
 
 
83,258
Datadog, Inc. - Class A(a)
 
 
797
 
 
105,355
Dell Technologies, Inc. - Class C
 
 
1,487
 
 
310,709
GlobalFoundries, Inc.(a)
 
 
2,287
 
 
147,740
Halma PLC
 
 
2,095
 
 
125,457
Hewlett Packard Enterprise Co.
 
 
4,641
 
 
133,522
Hexagon AB - Class B
 
 
9,048
 
 
97,053
International Business Machines Corp.
 
 
331
 
 
76,454
Keysight Technologies, Inc.(a)
 
 
462
 
 
161,658
KLA Corp.
 
 
61
 
 
106,771
Microsoft Corp.
 
 
237
 
 
96,644
Motorola Solutions, Inc.
 
 
254
 
 
111,514
Nokia OYJ
 
 
16,690
 
 
207,627
NVIDIA Corp.
 
 
533
 
 
106,371
Open Text Corp.
 
 
3,872
 
 
87,590
Oracle Corp.
 
 
606
 
 
97,802
Palantir Technologies, Inc. - Class A(a)
 
 
673
 
 
93,621
Palo Alto Networks, Inc.(a)
 
 
580
 
 
104,006
Roper Technologies, Inc.
 
 
280
 
 
99,347
Sage Group PLC
 
 
7,731
 
 
92,110
salesforce.com, Inc.
 
 
476
 
 
84,028
Snowflake, Inc. - Class A(a)
 
 
512
 
 
69,873
Synopsys, Inc.(a)
 
 
213
 
 
102,794
Trimble, Inc.(a)
 
 
1,494
 
 
100,576
Zscaler, Inc.(a)
 
 
509
 
 
66,516
 
 
 
 
4,012,571
Materials - 0.8%
 
 
 
 
Air Liquide SA
 
 
545
 
 
117,045
TOTAL COMMON STOCKS
(Cost $14,467,593)
 
 
 
 
14,776,211
TOTAL INVESTMENTS - 99.8%
(Cost $14,467,593)
 
 
 
 
$14,776,211
Other Assets in Excess of Liabilities - 0.2%
 
 
 
 
28,778
TOTAL NET ASSETS - 100.0%
 
 
 
 
$14,804,989
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
32
 

TABLE OF CONTENTS

PACER SOLACTIVE WHITNEY FUTURE OF WARFARE ETF
SCHEDULE OF INVESTMENTS
April 30, 2026 (Unaudited)(Continued)
Percentages are stated as a percent of net assets.
PLC - Public Limited Company
The Global Industry Classification Standard (“GICS®”) was developed by and/or is the exclusive property of MSCI, Inc. (“MSCI”) and Standard & Poor’s Financial Services LLC (“S&P”). GICS® is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services.
(a)
Non-income producing security.
(b)
To the extent that the Fund invests more heavily in a particular industry or sector of the economy, its performance will be especially sensitive to developments that significantly affect those industries or sectors.
The accompanying notes are an integral part of these financial statements.
 
33
 

TABLE OF CONTENTS

PACER SWAN SOS CONSERVATIVE APRIL ETF
SCHEDULE OF INVESTMENTS
April 30, 2026 (Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
Notional
Amount
 
 
Contracts
 
 
Value
PURCHASED OPTIONS - 107.7%(a)
 
 
Call Options - 105.0%
 
 
 
 
 
 
State Street SPDR S&P 500 ETF Trust, Expiration: 03/31/2027; Exercise Price: $7.15(b)(c)(d)
 
 
$64,751,266
 
 
901
 
 
$63,629,710
Put Options - 2.7%
 
 
 
 
 
 
State Street SPDR S&P 500 ETF Trust, Expiration: 03/31/2027; Exercise Price: $617.82(b)(c)(d)
 
 
64,751,266
 
 
901
 
 
1,616,277
TOTAL PURCHASED OPTIONS
(Cost $60,634,638)
 
 
 
 
 
 
65,245,987
TOTAL INVESTMENTS - 107.7%
(Cost $60,634,638)
 
 
 
 
 
 
$65,245,987
Liabilities in Excess of Other Assets - (7.7)%
 
 
 
 
 
 
(4,652,453)
TOTAL NET
ASSETS - 100.0%
 
 
 
 
 
 
$60,593,534
 
 
 
 
 
 
 
 
 
 
Percentages are stated as a percent of net assets.
(a)
Non-income producing security.
(b)
Held in connection with written option contracts. See Schedule of Written Options for further information.
(c)
Exchange-traded.
(d)
100 shares per contract.
The accompanying notes are an integral part of these financial statements.
 
34
 

TABLE OF CONTENTS

PACER SWAN SOS CONSERVATIVE APRIL ETF
SCHEDULE OF WRITTEN OPTIONS
April 30, 2026 (Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
Notional
Amount
 
 
Contracts
 
 
Value
WRITTEN OPTIONS - (8.1)%
 
 
 
 
 
 
Call Options - (7.4)%
 
 
 
 
 
 
State Street SPDR S&P 500 ETF Trust, Expiration: 03/31/2027; Exercise Price: $735.40(a)(b)
 
 
$(64,751,266)
 
 
(901)
 
 
$(4,483,772)
Put Options - (0.7)%
 
 
 
 
 
 
State Street SPDR S&P 500 ETF Trust, Expiration: 03/31/2027; Exercise Price: $455.24(a)(b)
 
 
(64,751,266)
 
 
(901)
 
 
(448,293)
TOTAL WRITTEN OPTIONS
(Premiums received $2,675,929)
 
 
 
 
 
 
$(4,932,065)
 
 
 
 
 
 
 
 
 
 
Percentages are stated as a percent of net assets.
(a)
Exchange-traded.
(b)
100 shares per contract.
The accompanying notes are an integral part of these financial statements.
 
35
 

TABLE OF CONTENTS

PACER SWAN SOS CONSERVATIVE JANUARY ETF
SCHEDULE OF INVESTMENTS
April 30, 2026 (Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
Notional
Amount
 
 
Contracts
 
 
Value
PURCHASED OPTIONS - 103.5%(a)
 
 
Call Options - 100.9%
 
 
 
 
 
 
SPDR S&P 500 ETF Trust, Expiration: 12/31/2026; Exercise Price: $7.50(b)(c)(d)
 
 
$47,647,158
 
 
663
 
 
$46,851,929
Put Options - 2.6%
 
 
 
 
 
 
SPDR S&P 500 ETF Trust, Expiration: 12/31/2026; Exercise Price: $647.82(b)(c)(d)
 
 
47,647,158
 
 
663
 
 
1,182,467
TOTAL PURCHASED OPTIONS
(Cost $46,218,808)
 
 
 
 
 
 
48,034,396
TOTAL INVESTMENTS - 103.5%
(Cost $46,218,808)
 
 
 
 
 
 
48,034,396
Liabilities in Excess of Other Assets - (3.5)%
 
 
 
 
 
 
(1,612,979)
TOTAL NET
ASSETS - 100.0%
 
 
 
 
 
 
$46,421,417
 
 
 
 
 
 
 
 
 
 
Percentages are stated as a percent of net assets.
(a)
Non-income producing security.
(b)
Held in connection with written option contracts. See Schedule of Written Options for further information.
(c)
Exchange-traded.
(d)
100 shares per contract.
The accompanying notes are an integral part of these financial statements.
 
36
 

TABLE OF CONTENTS

PACER SWAN SOS CONSERVATIVE JANUARY ETF
SCHEDULE OF WRITTEN OPTIONS
April 30, 2026 (Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
Notional
Amount
 
 
Contracts
 
 
Value
WRITTEN OPTIONS - (3.9)%
 
 
 
 
 
 
Call Options - (3.3)%
 
 
 
 
 
 
SPDR S&P 500 ETF Trust, Expiration: 12/31/2026; Exercise
Price: $763.55(a)(b)
 
 
$(47,647,158)
 
 
(663)
 
 
$(1,539,447)
Put Options - (0.6)%
 
 
 
 
 
 
SPDR S&P 500 ETF Trust, Expiration: 12/31/2026; Exercise
Price: $477.34(a)(b)
 
 
(47,647,158)
 
 
(663)
 
 
(264,265)
TOTAL WRITTEN OPTIONS
(Premiums received $1,500,532)
 
 
 
 
 
 
$(1,803,712)
 
 
 
 
 
 
 
 
 
 
Percentages are stated as a percent of net assets.
(a)
Exchange-traded.
(b)
100 shares per contract.
The accompanying notes are an integral part of these financial statements.
 
37
 

TABLE OF CONTENTS

Pacer Swan SOS Conservative July ETF
Schedule of Investments
April 30, 2026 (Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
Notional
Amount
 
 
Contracts
 
 
Value  
PURCHASED OPTIONS - 105.2%(a)
 
 
 
 
Call Options - 105.0%
 
 
 
 
 
 
SPDR S&P 500 ETF Trust, Expiration: 06/30/2026; Exercise Price: $6.80(b)(c)(d)
 
 
$43,766,394
 
 
609
 
 
$43,284,425
Put Options - 0.2%
 
 
 
 
 
 
SPDR S&P 500 ETF Trust, Expiration: 06/30/2026; Exercise Price: $586.96(b)(c)(d)
 
 
43,766,394
 
 
609
 
 
84,907
TOTAL PURCHASED OPTIONS
(Cost $38,359,524)
 
 
 
 
 
 
43,369,332
TOTAL INVESTMENTS - 105.2%
(Cost $38,359,524)
 
 
 
 
 
 
$43,369,332
Liabilities in Excess of Other Assets - (5.2)%
 
 
 
 
 
 
(2,138,572)
TOTAL NET
ASSETS - 100.0%
 
 
 
 
 
 
$41,230,760
 
 
 
 
 
 
 
 
 
 
Percentages are stated as a percent of net assets.
(a)
Non-income producing security.
(b)
Held in connection with written option contracts. See Schedule of Written Options for further information.
(c)
Exchange-traded.
(d)
100 shares per contract.
The accompanying notes are an integral part of these financial statements.
 
38
 

TABLE OF CONTENTS

Pacer Swan SOS Conservative July ETF
Schedule of Written Options
April 30, 2026 (Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
Notional
Amount
 
 
Contracts
 
 
Value
WRITTEN OPTIONS - (5.6)%
 
 
 
 
 
 
Call Options - (5.6)%
 
 
 
 
 
 
SPDR S&P 500 ETF Trust, Expiration: 06/30/2026; Exercise
Price: $693.41(a)(b)
 
 
$(43,766,394)
 
 
(609)
 
 
$(2,286,685)
Put Options - (0.0)%(c)
 
 
 
 
 
 
SPDR S&P 500 ETF Trust, Expiration: 06/30/2026; Exercise
Price: $432.50(a)(b)
 
 
(43,766,394)
 
 
(609)
 
 
(16,017)
TOTAL WRITTEN OPTIONS
(Premiums received $1,263,664)
 
 
 
 
 
 
$(2,302,702)
 
 
 
 
 
 
 
 
 
 
Percentages are stated as a percent of net assets.
(a)
Exchange-traded.
(b)
100 shares per contract.
(c)
Represents less than 0.05% of net assets.
The accompanying notes are an integral part of these financial statements.
 
39
 

TABLE OF CONTENTS

Pacer Swan SOS Conservative October ETF
Schedule of Investments
April 30, 2026 (Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
Notional
Amount
 
 
Contracts
 
 
Value
PURCHASED OPTIONS - 103.1%(a)
Call Options - 101.7%
 
 
 
 
 
 
SPDR S&P 500 ETF Trust, Expiration: 09/30/2026; Exercise Price: $7.33(b)(c)(d)
 
 
$48,797,014
 
 
679
 
 
$48,113,723
Put Options - 1.4%
 
 
 
 
 
 
SPDR S&P 500 ETF Trust, Expiration: 09/30/2026; Exercise Price: $632.87(b)(c)(d)
 
 
48,797,014
 
 
679
 
 
650,733
TOTAL PURCHASED OPTIONS
(Cost $46,379,706)
 
 
 
 
 
 
48,764,456
TOTAL INVESTMENTS - 103.1%
(Cost $46,379,706)
 
 
 
 
 
 
$48,764,456
Liabilities in Excess of Other Assets - (3.1)%
 
 
 
 
 
 
(1,480,505)
TOTAL NET
ASSETS - 100.0%
 
 
 
 
 
 
$47,283,951
 
 
 
 
 
 
 
 
 
 
Percentages are stated as a percent of net assets.
(a)
Non-income producing security.
(b)
Held in connection with written option contracts. See Schedule of Written Options for further information.
(c)
Exchange-traded.
(d)
100 shares per contract.
The accompanying notes are an integral part of these financial statements.
 
40
 

TABLE OF CONTENTS

Pacer Swan SOS Conservative October ETF
Schedule of Written Options
April 30, 2026 (Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
Notional
Amount
 
 
Contracts
 
 
Value
WRITTEN OPTIONS - (3.3)%
Call Options - (3.0)%
 
 
 
 
 
 
SPDR S&P 500 ETF Trust, Expiration: 09/30/2026; Exercise
Price: $743.52(a)(b)
 
 
$(48,797,014)
 
 
(679)
 
 
$(1,406,854)
Put Options - (0.3)%
 
 
 
 
 
 
SPDR S&P 500 ETF Trust, Expiration: 09/30/2026; Exercise
Price: $466.33(a)(b)
 
 
(48,797,014)
 
 
(679)
 
 
(130,796)
TOTAL WRITTEN OPTIONS
(Premiums received $1,654,672)
 
 
 
 
 
 
$(1,537,650)
 
 
 
 
 
 
 
 
 
 
Percentages are stated as a percent of net assets.
(a)
Exchange-traded.
(b)
100 shares per contract.
The accompanying notes are an integral part of these financial statements.
 
41
 

TABLE OF CONTENTS

Pacer Swan SOS Flex April ETF
Schedule of Investments
April 30, 2026 (Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
Notional
Amount
 
 
Contracts
 
 
Value  
PURCHASED OPTIONS - 107.5%(a)
Call Options - 103.6%
 
 
 
 
 
 
State Street SPDR S&P 500 ETF Trust, Expiration: 03/31/2027; Exercise Price: $7.28(b)(c)(d)
 
 
$23,428,316
 
 
326
 
 
$23,018,446
Put Options - 3.9%
 
 
 
 
 
 
State Street SPDR S&P 500 ETF Trust(b)(c)(d)
 
 
 
 
 
 
Expiration: 03/31/2027; Exercise Price: $390.20
 
 
23,428,316
 
 
326
 
 
101,947
Expiration: 03/31/2027; Exercise Price: $650.34
 
 
23,428,316
 
 
326
 
 
757,761
Total Put Options
 
 
 
 
 
 
859,708
TOTAL PURCHASED OPTIONS
(Cost $22,438,603)
 
 
 
 
 
 
23,878,154
TOTAL INVESTMENTS - 107.5%
(Cost $22,438,603)
 
 
 
 
 
 
$23,878,154
Liabilities in Excess of Other Assets - (7.5)%
 
 
 
 
 
 
(1,664,490)
TOTAL NET
ASSETS - 100.0%
 
 
 
 
 
 
$22,213,664
 
 
 
 
 
 
 
 
 
 
Percentages are stated as a percent of net assets.
(a)
Non-income producing security.
(b)
Held in connection with written option contracts. See Schedule of Written Options for further information.
(c)
Exchange-traded.
(d)
100 shares per contract.
The accompanying notes are an integral part of these financial statements.
 
42
 

TABLE OF CONTENTS

Pacer Swan SOS Flex April ETF
Schedule of Written Options
April 30, 2026 (Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
Notional
Amount
 
 
Contracts
 
 
Value
WRITTEN OPTIONS - (8.0)%
Call Options - (5.6)%
 
 
 
 
 
 
State Street SPDR S&P 500 ETF Trust, Expiration: 03/31/2027; Exercise Price: $755.50(a)(b)
 
 
$(23,428,316)
 
 
(326)
 
 
$(1,243,136)
Put Options - (2.4)%
 
 
 
 
 
 
State Street SPDR S&P 500 ETF Trust, Expiration: 03/31/2027; Exercise Price: $520.27(a)(b)
 
 
(46,856,632)
 
 
(652)
 
 
(531,139)
TOTAL WRITTEN OPTIONS
(Premiums received $1,470,890)
 
 
 
 
 
 
$(1,774,275)
 
 
 
 
 
 
 
 
 
 
Percentages are stated as a percent of net assets.
(a)
Exchange-traded.
(b)
100 shares per contract.
The accompanying notes are an integral part of these financial statements.
 
43
 

TABLE OF CONTENTS

Pacer Swan SOS Flex January ETF
Schedule of Investments
April 30, 2026 (Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
Notional
Amount
 
 
Contracts
 
 
Value  
PURCHASED OPTIONS - 104.0%(a)
Call Options - 100.2%
 
 
 
 
 
 
SPDR S&P 500 ETF Trust, Expiration: 12/31/2026; Exercise Price: $7.64(b)(c)(d)
 
 
$59,433,182
 
 
827
 
 
$58,429,990
Put Options - 3.8%
 
 
 
 
 
 
SPDR S&P 500 ETF
Trust(b)(c)(d)
 
 
 
 
 
 
Expiration: 12/31/2026; Exercise Price: $409.15
 
 
59,433,182
 
 
827
 
 
186,232
Expiration: 12/31/2026; Exercise Price: $681.92
 
 
59,433,182
 
 
827
 
 
2,002,837
Total Put Options
 
 
 
 
 
 
2,189,069
TOTAL PURCHASED OPTIONS
(Cost $58,747,932)
 
 
 
 
 
 
60,619,059
TOTAL INVESTMENTS - 104.0%
(Cost $58,747,932)
 
 
 
 
 
 
60,619,059
Liabilities in Excess of Other Assets - (4.0)%
 
 
 
 
 
 
(2,306,138)
TOTAL NET
ASSETS - 100.0%
 
 
 
 
 
 
$58,312,921
 
 
 
 
 
 
 
 
 
 
Percentages are stated as a percent of net assets.
(a)
Non-income producing security.
(b)
Held in connection with written option contracts. See Schedule of Written Options for further information.
(c)
Exchange-traded.
(d)
100 shares per contract.
The accompanying notes are an integral part of these financial statements.
 
44
 

TABLE OF CONTENTS

Pacer Swan SOS Flex January ETF
Schedule of Written Options
April 30, 2026 (Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
Notional
Amount
 
 
Contracts
 
 
Value
WRITTEN OPTIONS - (4.4)%
Call Options - (2.4)%
 
 
 
 
 
 
SPDR S&P 500 ETF Trust, Expiration: 12/31/2026; Exercise
Price: $779.43(a)(b)
 
 
$(59,433,182)
 
 
(827)
 
 
$(1,387,276)
Put Options - (2.0)%
 
 
 
 
 
 
SPDR S&P 500 ETF Trust, Expiration: 12/31/2026; Exercise
Price: $545.54(a)(b)
 
 
(118,866,364)
 
 
(1,654)
 
 
(1,162,233)
TOTAL WRITTEN OPTIONS
(Premiums received $2,950,505)
 
 
 
 
 
 
$(2,549,509)
 
 
 
 
 
 
 
 
 
 
Percentages are stated as a percent of net assets.
(a)
Exchange-traded.
(b)
100 shares per contract.
The accompanying notes are an integral part of these financial statements.
 
45
 

TABLE OF CONTENTS

Pacer Swan SOS Flex July ETF
Schedule of Investments
April 30, 2026 (Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
Notional
Amount
 
 
Contracts
 
 
Value  
PURCHASED OPTIONS - 103.8%(a)
Call Options - 103.5%
 
 
 
 
 
 
SPDR S&P 500 ETF Trust, Expiration: 06/30/2026; Exercise Price: $6.92(b)(c)(d)
 
 
$36,076,732
 
 
502
 
 
$35,673,495
Put Options - 0.3%
 
 
 
 
 
 
SPDR S&P 500 ETF
Trust(b)(c)(d)
 
 
 
 
 
 
Expiration: 06/30/2026; Exercise Price: $370.71
 
 
36,076,732
 
 
502
 
 
9,081
Expiration: 06/30/2026; Exercise Price: $617.85
 
 
36,076,732
 
 
502
 
 
109,642
Total Put Options
 
 
 
 
 
 
118,723
TOTAL PURCHASED OPTIONS
(Cost $32,090,104)
 
 
 
 
 
 
35,792,218
TOTAL INVESTMENTS - 103.8%
(Cost $32,090,104)
 
 
 
 
 
 
$35,792,218
Liabilities in Excess of Other Assets - (3.8)%
 
 
 
 
 
 
(1,320,506)
TOTAL NET
ASSETS - 100.0%
 
 
 
 
 
 
$34,471,712
 
 
 
 
 
 
 
 
 
 
Percentages are stated as a percent of net assets.
(a)
Non-income producing security.
(b)
Held in connection with written option contracts. See Schedule of Written Options for further information.
(c)
Exchange-traded.
(d)
100 shares per contract.
The accompanying notes are an integral part of these financial statements.
 
46
 

TABLE OF CONTENTS

Pacer Swan SOS Flex July ETF
Schedule of Written Options
April 30, 2026 (Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
Notional
Amount
 
 
Contracts
 
 
Value
WRITTEN OPTIONS - (4.3)%
Call Options - (4.2)%
 
 
 
 
 
 
SPDR S&P 500 ETF Trust, Expiration: 06/30/2026; Exercise
Price: $704.97(a)(b)
 
 
$(36,076,732)
 
 
(502)
 
 
$(1,435,590)
Put Options - (0.1)%
 
 
 
 
 
 
SPDR S&P 500 ETF Trust, Expiration: 06/30/2026; Exercise
Price: $494.28(a)(b)
 
 
(72,153,464)
 
 
(1,004)
 
 
(47,770)
TOTAL WRITTEN OPTIONS
(Premiums received $1,683,228)
 
 
 
 
 
 
$(1,483,360)
 
 
 
 
 
 
 
 
 
 
Percentages are stated as a percent of net assets.
(a)
Exchange-traded.
(b)
100 shares per contract.
The accompanying notes are an integral part of these financial statements.
 
47
 

TABLE OF CONTENTS

Pacer Swan SOS Flex October ETF
Schedule of Investments
April 30, 2026 (Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
Notional
Amount
 
 
Contracts
 
 
Value  
PURCHASED OPTIONS - 102.5%(a)
Call Options - 100.3%
 
 
 
 
 
 
SPDR S&P 500 ETF Trust, Expiration: 09/30/2026; Exercise Price: $7.46(b)(c)(d)
 
 
$45,491,178
 
 
633
 
 
$44,846,087
Put Options - 2.2%
 
 
 
 
 
 
SPDR S&P 500 ETF
Trust(b)(c)(d)
 
 
 
 
 
 
Expiration: 09/30/2026; Exercise Price: $399.71
 
 
45,491,178
 
 
633
 
 
72,896
Expiration: 09/30/2026; Exercise Price: $666.18
 
 
45,491,178
 
 
633
 
 
883,333
Total Put Options
 
 
 
 
 
 
956,229
TOTAL PURCHASED OPTIONS
(Cost $44,063,961)
 
 
 
 
 
 
45,802,316
TOTAL INVESTMENTS - 102.5%
(Cost $44,063,961)
 
 
 
 
 
 
$45,802,316
Liabilities in Excess of Other Assets - (2.5)%
 
 
 
 
 
 
(1,099,374)
TOTAL NET
ASSETS - 100.0%
 
 
 
 
 
 
$44,702,942
 
 
 
 
 
 
 
 
 
 
Percentages are stated as a percent of net assets.
(a)
Non-income producing security.
(b)
Held in connection with written option contracts. See Schedule of Written Options for further information.
(c)
Exchange-traded.
(d)
100 shares per contract.
The accompanying notes are an integral part of these financial statements.
 
48
 

TABLE OF CONTENTS

Pacer Swan SOS Flex October ETF
Schedule of Written Options
April 30, 2026 (Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
Notional
Amount
 
 
Contracts
 
 
Value
WRITTEN OPTIONS - (3.0)%
Call Options - (2.0)%
 
 
 
 
 
 
SPDR S&P 500 ETF Trust, Expiration: 09/30/2026; Exercise
Price: $757.65(a)(b)
 
 
$(45,491,178)
 
 
(633)
 
 
$(910,653)
Put Options - (1.0)%
 
 
 
 
 
 
SPDR S&P 500 ETF Trust, Expiration: 09/30/2026; Exercise
Price: $532.94(a)(b)
 
 
(90,982,356)
 
 
(1,266)
 
 
(425,477)
TOTAL WRITTEN OPTIONS
(Premiums received $2,306,613)
 
 
 
 
 
 
$(1,336,130)
 
 
 
 
 
 
 
 
 
 
Percentages are stated as a percent of net assets.
(a)
Exchange-traded.
(b)
100 shares per contract.
The accompanying notes are an integral part of these financial statements.
 
49
 

TABLE OF CONTENTS

Pacer Swan SOS Fund of Funds ETF
Schedule of Investments
April 30, 2026 (Unaudited)
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
AFFILIATED EXCHANGE TRADED FUNDS - 99.6%
Pacer Swan SOS Conservative (April) ETF(a)(b)
 
 
1,770,461
 
 
$52,317,123
Pacer Swan SOS Conservative (January) ETF(a)(b)
 
 
800,498
 
 
25,616,256
Pacer Swan SOS Conservative (July) ETF(a)(b)
 
 
1,138,471
 
 
35,406,903
Pacer Swan SOS Conservative (October) ETF(a)(b)
 
 
1,362,757
 
 
41,564,361
Pacer Swan SOS Flex (April) ETF(a)(b)
 
 
436,850
 
 
14,924,980
Pacer Swan SOS Flex (January)
ETF(a)(b)
 
 
836,486
 
 
32,480,751
Pacer Swan SOS Flex (July) ETF(a)(b)
 
 
642,249
 
 
22,131,901
Pacer Swan SOS Flex (October)
ETF(a)(b)
 
 
853,430
 
 
28,808,895
Pacer Swan SOS Moderate (April) ETF(a)(b)
 
 
2,316,053
 
 
73,233,596
Pacer Swan SOS Moderate (January) ETF(a)(b)
 
 
2,373,370
 
 
79,614,697
Pacer Swan SOS Moderate (July) ETF(a)(b)
 
 
2,225,324
 
 
73,992,023
Pacer Swan SOS Moderate (October) ETF(a)(b)
 
 
2,668,523
 
 
84,898,526
TOTAL AFFILIATED EXCHANGE TRADED FUNDS
(Cost $473,404,208)
 
 
 
 
564,990,012
TOTAL INVESTMENTS - 99.6%
(Cost $473,404,208)
 
 
 
 
$564,990,012
Other Assets in Excess of
Liabilities - 0.4%
 
 
 
 
2,496,935
TOTAL NET ASSETS - 100.0%
 
 
 
 
$567,486,947
 
 
 
 
 
 
 
Percentages are stated as a percent of net assets.
(a)
Non-income producing security.
(b)
Affiliated security as defined by the Investment Company Act of 1940.
The accompanying notes are an integral part of these financial statements.
 
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TABLE OF CONTENTS

Pacer Swan SOS Moderate April ETF
Schedule of Investments
April 30, 2026 (Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
Notional
Amount
 
 
Contracts
 
 
Value
PURCHASED OPTIONS - 108.1%(a)
Call Options - 104.7%
 
 
 
 
 
 
State Street SPDR S&P 500 ETF Trust, Expiration: 03/31/2027; Exercise Price: $7.22(b)(c)(d)
 
 
$91,916,614
 
 
1,279
 
 
$90,315,933
Put Options - 3.4%
 
 
 
 
 
 
State Street SPDR S&P 500 ETF Trust, Expiration: 03/31/2027; Exercise Price: $650.41(b)(c)(d)
 
 
91,916,614
 
 
1,279
 
 
2,974,570
TOTAL PURCHASED OPTIONS
(Cost $87,351,922)
 
 
 
 
 
 
93,290,503
TOTAL INVESTMENTS - 108.1%
(Cost $87,351,922)
 
 
 
 
 
 
$93,290,503
Liabilities in Excess of Other
Assets - (8.1)%
 
 
 
 
 
 
(7,008,725)
TOTAL NET
ASSETS - 100.0%
 
 
 
 
 
 
$86,281,778
 
 
 
 
 
 
 
 
 
 
Percentages are stated as a percent of net assets.
(a)
Non-income producing security.
(b)
Held in connection with written option contracts. See Schedule of Written Options for further information.
(c)
Exchange-traded.
(d)
100 shares per contract.
The accompanying notes are an integral part of these financial statements.
 
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TABLE OF CONTENTS

Pacer Swan SOS Moderate April ETF
Schedule of Written Options
April 30, 2026 (Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
Notional
Amount
 
 
Contracts
 
 
Value
WRITTEN OPTIONS - (8.5)%
 
 
 
 
 
 
 
 
 
Call Options - (7.0)%
 
 
 
 
 
 
State Street SPDR S&P 500 ETF Trust, Expiration: 03/31/2027; Exercise Price: $739.89(a)(b)
 
 
$(91,916,614)
 
 
(1,279)
 
 
$(6,017,055)
Put Options - (1.5)%
 
 
 
 
 
 
State Street SPDR S&P 500 ETF Trust, Expiration: 03/31/2027; Exercise Price: $552.79(a)(b)
 
 
(91,916,614)
 
 
(1,279)
 
 
(1,352,722)
TOTAL WRITTEN OPTIONS
(Premiums received $5,086,524)
 
 
 
 
 
 
$(7,369,777)
 
 
 
 
 
 
 
 
 
 
Percentages are stated as a percent of net assets.
(a)
Exchange-traded.
(b)
100 shares per contract.
The accompanying notes are an integral part of these financial statements.
 
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TABLE OF CONTENTS

Pacer Swan SOS Moderate January ETF
Schedule of Investments
April 30, 2026 (Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
Notional
Amount
 
 
Contracts
 
 
Value  
PURCHASED OPTIONS - 104.1%(a)
Call Options - 100.7%
 
 
 
 
 
 
SPDR S&P 500 ETF Trust, Expiration: 12/31/2026; Exercise Price: $7.57(b)(c)(d)
 
 
$95,509,914
 
 
1,329
 
 
$93,906,808
Put Options - 3.4%
 
 
 
 
 
 
SPDR S&P 500 ETF Trust, Expiration: 12/31/2026; Exercise Price: $681.99(b)(c)(d)
 
 
95,509,914
 
 
1,329
 
 
3,220,592
TOTAL PURCHASED OPTIONS
(Cost $93,915,311)
 
 
 
 
 
 
97,127,400
TOTAL INVESTMENTS - 104.1%
(Cost $93,915,311)
 
 
 
 
 
 
$97,127,400
Liabilities in Excess of Other
Assets - (4.1)%
 
 
 
 
 
 
(3,844,320)
TOTAL NET
ASSETS - 100.0%
 
 
 
 
 
 
$93,283,080
 
 
 
 
 
 
 
 
 
 
Percentages are stated as a percent of net assets.
(a)
Non-income producing security.
(b)
Held in connection with written option contracts. See Schedule of Written Options for further information.
(c)
Exchange-traded.
(d)
100 shares per contract.
The accompanying notes are an integral part of these financial statements.
 
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TABLE OF CONTENTS

Pacer Swan SOS Moderate January ETF
Schedule of Written Options
April 30, 2026 (Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
Notional
Amount
 
 
Contracts
 
 
Value
WRITTEN OPTIONS - (4.6)%
Call Options - (3.2)%
 
 
 
 
 
 
SPDR S&P 500 ETF Trust, Expiration: 12/31/2026; Exercise
Price: $764.77(a)(b)
 
 
$(95,509,914)
 
 
(1,329)
 
 
$(3,013,215)
Put Options - (1.4)%
 
 
 
 
 
 
SPDR S&P 500 ETF Trust, Expiration: 12/31/2026; Exercise
Price: $579.63(a)(b)
 
 
(95,509,914)
 
 
(1,329)
 
 
(1,267,707)
TOTAL WRITTEN OPTIONS
(Premiums received $4,232,209)
 
 
 
 
 
 
$(4,280,922)
 
 
 
 
 
 
 
 
 
 
Percentages are stated as a percent of net assets.
(a)
Exchange-traded.
(b)
100 shares per contract.
The accompanying notes are an integral part of these financial statements.
 
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TABLE OF CONTENTS

PACER SWAN SOS MODERATE JULY ETF
SCHEDULE OF INVESTMENTS
April 30, 2026 (Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
Notional
Amount
 
 
Contracts
 
 
Value
PURCHASED OPTIONS - 105.2%(a)
 
 
 
 
Call Options - 104.9%
 
 
 
 
 
 
SPDR S&P 500 ETF Trust, Expiration: 06/30/2026; Exercise Price: $6.86(b)(c)(d)
 
 
$93,425,800
 
 
1,300
 
 
$92,389,271
Put Options - 0.3%
 
 
 
 
 
 
SPDR S&P 500 ETF Trust, Expiration: 06/30/2026; Exercise Price: $617.91(b)(c)(d)
 
 
93,425,800
 
 
1,300
 
 
284,193
TOTAL PURCHASED OPTIONS
(Cost $82,893,368)
 
 
 
 
 
 
92,673,464
TOTAL INVESTMENTS - 105.2%
(Cost $82,893,368)
 
 
 
 
 
 
$92,673,464
Liabilities in Excess of Other Assets - (5.2)%
 
 
 
 
 
 
(4,539,427)
TOTAL NET
ASSETS - 100.0%
 
 
 
 
 
 
$88,134,037
 
 
 
 
 
 
 
 
 
 
Percentages are stated as a percent of net assets.
(a)
Non-income producing security.
(b)
Held in connection with written option contracts. See Schedule of Written Options for further information.
(c)
Exchange-traded.
(d)
100 shares per contract.
The accompanying notes are an integral part of these financial statements.
 
55
 

TABLE OF CONTENTS

PACER SWAN SOS MODERATE JULY ETF
SCHEDULE OF WRITTEN OPTIONS
April 30, 2026 (Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
Notional
Amount
 
 
Contracts
 
 
Value
WRITTEN OPTIONS - (5.7)%
 
 
 
 
 
 
Call Options - (5.6)%
 
 
 
 
 
 
SPDR S&P 500 ETF Trust, Expiration: 06/30/2026; Exercise
Price: $693.23(a)(b)
 
 
$(93,425,800)
 
 
(1,300)
 
 
$(4,900,103)
Put Options - (0.1)%
 
 
 
 
 
 
SPDR S&P 500 ETF Trust, Expiration: 06/30/2026; Exercise
Price: $525.17(a)(b)
 
 
(93,425,800)
 
 
(1,300)
 
 
(86,424)
TOTAL WRITTEN OPTIONS
(Premiums received $3,718,296)
 
 
 
 
 
 
$(4,986,527)
 
 
 
 
 
 
 
 
 
 
Percentages are stated as a percent of net assets.
(a)
Exchange-traded.
(b)
100 shares per contract.
The accompanying notes are an integral part of these financial statements.
 
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TABLE OF CONTENTS

PACER SWAN SOS MODERATE OCTOBER ETF
SCHEDULE OF INVESTMENTS
April 30, 2026 (Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
Notional
Amount
 
 
Contracts
 
 
Value
PURCHASED OPTIONS - 103.1%(a)
 
 
 
 
Call Options - 101.1%
 
 
 
 
 
 
SPDR S&P 500 ETF Trust, Expiration: 09/30/2026; Exercise Price: $7.39(b)(c)(d)
 
 
$101,115,462
 
 
1,407
 
 
$99,691,269
Put Options - 2.0%
 
 
 
 
 
 
SPDR S&P 500 ETF Trust, Expiration: 09/30/2026; Exercise Price: $666.25(b)(c)(d)
 
 
101,115,462
 
 
1,407
 
 
1,965,002
TOTAL PURCHASED OPTIONS
(Cost $97,368,038)
 
 
 
 
 
 
101,656,271
TOTAL INVESTMENTS - 103.1%
(Cost $97,368,038)
 
 
 
 
 
 
$101,656,271
Liabilities in Excess of Other Assets - (3.1)%
 
 
 
 
 
 
(3,019,315)
TOTAL NET
ASSETS - 100.0%
 
 
 
 
 
 
$98,636,956
 
 
 
 
 
 
 
 
 
 
Percentages are stated as a percent of net assets.
(a)
Non-income producing security.
(b)
Held in connection with written option contracts. See Schedule of Written Options for further information.
(c)
Exchange-traded.
(d)
100 shares per contract.
The accompanying notes are an integral part of these financial statements.
 
57
 

TABLE OF CONTENTS

PACER SWAN SOS MODERATE OCTOBER ETF
SCHEDULE OF WRITTEN OPTIONS
April 30, 2026 (Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
Notional
Amount
 
 
Contracts
 
 
Value
WRITTEN OPTIONS - (3.5)%
 
 
 
 
 
 
Call Options - (2.8)%
 
 
 
 
 
 
SPDR S&P 500 ETF Trust, Expiration: 09/30/2026; Exercise
Price: $745.06(a)(b)
 
 
$(101,115,462)
 
 
(1,407)
 
 
$(2,807,739)
Put Options - (0.7)%
 
 
 
 
 
 
SPDR S&P 500 ETF Trust, Expiration: 09/30/2026; Exercise
Price: $566.25(a)(b)
 
 
(101,115,462)
 
 
(1,407)
 
 
(654,649)
TOTAL WRITTEN OPTIONS
(Premiums received $4,637,877)
 
 
 
 
 
 
$(3,462,388)
 
 
 
 
 
 
 
 
 
 
Percentages are stated as a percent of net assets.
(a)
Exchange-traded.
(b)
100 shares per contract.
The accompanying notes are an integral part of these financial statements.
 
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TABLE OF CONTENTS

PACER US CASH COWS BOND ETF
SCHEDULE OF INVESTMENTS
April 30, 2026 (Unaudited)
 
 
 
 
 
 
 
 
 
 
Par
 
 
Value
CORPORATE BONDS - 98.2%
 
 
 
 
Communication Services - 5.6%
 
 
 
 
Discovery Global Holdings, Inc.
 
 
 
 
5.05%, 03/15/2042
 
 
$204,000
 
 
$145,560
5.14%, 03/15/2052
 
 
217,000
 
 
142,135
Fox Corp.
 
 
 
 
5.48%, 01/25/2039
 
 
169,000
 
 
164,608
5.58%, 01/25/2049
 
 
170,000
 
 
157,047
Match Group Holdings II LLC,
4.63%, 06/01/2028(a)
 
 
170,000
 
 
167,814
Nexstar Media, Inc.,
6.50%, 09/15/2033(a)
 
 
160,000
 
 
161,231
 
 
 
 
938,395
Consumer Discretionary - 16.6%
 
 
 
 
Aptiv Swiss Holdings Ltd.
 
 
 
 
3.10%, 12/01/2051
 
 
268,000
 
 
160,786
4.15%, 05/01/2052
 
 
221,000
 
 
160,774
6.88% to 12/15/2029 then 5 yr. CMT Rate + 3.39%, 12/15/2054
 
 
162,000
 
 
166,078
BorgWarner, Inc., 5.40%, 08/15/2034
 
 
168,000
 
 
170,693
Ford Motor Co., 5.29%, 12/08/2046
 
 
192,000
 
 
154,419
Ford Motor Credit Co. LLC
 
 
 
 
7.12%, 11/07/2033
 
 
154,000
 
 
163,390
6.13%, 03/08/2034
 
 
169,000
 
 
169,701
6.50%, 02/07/2035
 
 
162,000
 
 
165,059
Hasbro, Inc., 6.05%, 05/14/2034
 
 
155,000
 
 
162,177
Leggett & Platt, Inc.
 
 
 
 
3.50%, 11/15/2027
 
 
172,000
 
 
168,192
4.40%, 03/15/2029
 
 
167,000
 
 
162,835
3.50%, 11/15/2051
 
 
254,000
 
 
156,912
Prime Security Services Borrower LLC / Prime Finance, Inc., 3.38%, 08/31/2027(a)
 
 
170,000
 
 
166,689
PVH Corp., 5.50%, 06/13/2030
 
 
166,000
 
 
168,345
Tapestry, Inc., 5.50%, 03/11/2035
 
 
167,000
 
 
167,774
United Airlines 2023-1 Class A Pass Through Trust, 5.80%, 01/15/2036
 
 
130,688
 
 
135,452
United Airlines 2024-1 Class AA Pass Through Trust, 5.45%, 02/15/2037
 
 
146,107
 
 
148,873
 
 
 
 
2,748,149
Consumer Staples - 16.1%
 
 
 
 
Altria Group, Inc.
 
 
 
 
5.63%, 02/06/2035
 
 
158,000
 
 
162,098
5.80%, 02/14/2039
 
 
158,000
 
 
159,353
3.40%, 02/04/2041
 
 
220,000
 
 
167,047
4.45%, 05/06/2050
 
 
204,000
 
 
160,053
Conagra Brands, Inc.
 
 
 
 
5.75%, 08/01/2035
 
 
167,000
 
 
167,982
5.30%, 11/01/2038
 
 
170,000
 
 
158,371
5.40%, 11/01/2048
 
 
182,000
 
 
155,397
Constellation Brands, Inc.
 
 
 
 
4.50%, 05/09/2047
 
 
192,000
 
 
157,915
5.25%, 11/15/2048
 
 
175,000
 
 
158,597
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Par
 
 
Value
Kraft Heinz Foods Co.
 
 
 
 
5.20%, 07/15/2045
 
 
$182,000
 
 
$159,336
4.38%, 06/01/2046
 
 
121,000
 
 
94,823
4.88%, 10/01/2049
 
 
188,000
 
 
153,946
5.50%, 06/01/2050
 
 
172,000
 
 
154,038
Pilgrim’s Pride Corp.
 
 
 
 
4.25%, 04/15/2031
 
 
172,000
 
 
165,317
3.50%, 03/01/2032
 
 
181,000
 
 
165,325
6.25%, 07/01/2033
 
 
155,000
 
 
162,526
6.88%, 05/15/2034
 
 
152,000
 
 
165,107
 
 
 
 
2,667,231
Energy - 20.2%
 
 
 
 
Chord Energy Corp.,
6.75%, 03/15/2033(a)
 
 
167,000
 
 
173,775
Coterra Energy, Inc.
 
 
 
 
5.60%, 03/15/2034
 
 
166,000
 
 
170,571
5.40%, 02/15/2035
 
 
18,000
 
 
18,159
5.90%, 02/15/2055
 
 
172,000
 
 
165,513
Diamondback Energy, Inc.
 
 
 
 
6.25%, 03/15/2053
 
 
166,000
 
 
169,500
5.75%, 04/18/2054
 
 
170,000
 
 
163,115
5.90%, 04/18/2064
 
 
170,000
 
 
163,994
Expand Energy Corp.
 
 
 
 
5.38%, 02/01/2029
 
 
170,000
 
 
169,959
5.38%, 03/15/2030
 
 
168,000
 
 
169,736
4.75%, 02/01/2032
 
 
171,000
 
 
167,660
5.70%, 01/15/2035
 
 
158,000
 
 
161,146
HF Sinclair Corp.
 
 
 
 
5.75%, 01/15/2031
 
 
158,000
 
 
161,829
5.50%, 09/01/2032
 
 
167,000
 
 
168,993
6.25%, 01/15/2035
 
 
157,000
 
 
162,828
Occidental Petroleum Corp.
 
 
 
 
6.45%, 09/15/2036
 
 
154,000
 
 
165,495
6.20%, 03/15/2040
 
 
169,000
 
 
174,662
6.60%, 03/15/2046
 
 
165,000
 
 
172,613
6.05%, 10/01/2054
 
 
169,000
 
 
164,788
Ovintiv, Inc., 6.25%, 07/15/2033
 
 
155,000
 
 
164,314
Phillips 66 Co., 4.90%, 10/01/2046
 
 
187,000
 
 
162,854
Viper Energy Partners LLC,
5.70%, 08/01/2035
 
 
163,000
 
 
165,474
 
 
 
 
3,356,978
Health Care - 19.2%
 
 
 
 
Biogen, Inc.
 
 
 
 
5.20%, 09/15/2045
 
 
185,000
 
 
168,346
6.45%, 05/15/2055
 
 
154,000
 
 
160,377
Cardinal Health, Inc., 5.35%, 11/15/2034
 
 
158,000
 
 
159,998
DENTSPLY SIRONA, Inc.
 
 
 
 
3.25%, 06/01/2030
 
 
184,000
 
 
170,242
8.38% to 09/12/2030 then 5 yr. CMT Rate + 4.38%, 09/12/2055
 
 
161,000
 
 
161,863
HCA, Inc.
 
 
 
 
5.50%, 06/15/2047
 
 
172,000
 
 
157,833
5.25%, 06/15/2049
 
 
184,000
 
 
162,667
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
59
 

TABLE OF CONTENTS

PACER US CASH COWS BOND ETF
SCHEDULE OF INVESTMENTS
April 30, 2026 (Unaudited)(Continued)
 
 
 
 
 
 
 
 
 
 
Par
 
 
Value
CORPORATE BONDS - (Continued)
Health Care - (Continued)
5.90%, 06/01/2053
 
 
$170,000
 
 
$161,734
6.00%, 04/01/2054
 
 
162,000
 
 
156,199
Mylan, Inc., 5.20%, 04/15/2048
 
 
203,000
 
 
162,011
Organon & Co. / Organon Foreign Debt Co.-Issuer BV
 
 
 
 
5.13%, 04/30/2031(a)
 
 
197,000
 
 
195,748
6.75%, 05/15/2034(a)
 
 
172,000
 
 
181,347
7.88%, 05/15/2034(a)
 
 
182,000
 
 
194,985
Royalty Pharma PLC
 
 
 
 
3.30%, 09/02/2040
 
 
221,000
 
 
168,968
5.90%, 09/02/2054
 
 
169,000
 
 
164,827
Tenet Healthcare Corp.,
6.13%, 10/01/2028
 
 
165,000
 
 
165,416
Utah Acquisition Sub, Inc.,
5.25%, 06/15/2046
 
 
200,000
 
 
162,626
Viatris, Inc.
 
 
 
 
3.85%, 06/22/2040
 
 
221,000
 
 
169,751
4.00%, 06/22/2050
 
 
239,000
 
 
158,621
 
 
 
 
3,183,559
Industrials - 3.5%
 
 
 
 
TransDigm, Inc.
 
 
 
 
7.13%, 12/01/2031(a)
 
 
155,000
 
 
160,622
6.63%, 03/01/2032(a)
 
 
85,000
 
 
87,354
6.38%, 05/31/2033(a)
 
 
161,000
 
 
162,238
6.75%, 01/31/2034(a)
 
 
162,000
 
 
166,422
 
 
 
 
576,636
Information Technology - 15.1%
 
 
 
 
AppLovin Corp.
 
 
 
 
5.50%, 12/01/2034
 
 
157,000
 
 
156,940
5.95%, 12/01/2054
 
 
119,000
 
 
109,160
Arrow Electronics, Inc.
 
 
 
 
2.95%, 02/15/2032
 
 
189,000
 
 
168,284
5.88%, 04/10/2034
 
 
155,000
 
 
159,747
Atlassian Corp., 5.50%, 05/15/2034
 
 
157,000
 
 
153,212
Avnet, Inc., 6.25%, 03/15/2028
 
 
168,000
 
 
172,498
Booz Allen Hamilton, Inc.
 
 
 
 
5.95%, 08/04/2033
 
 
157,000
 
 
160,299
5.95%, 04/15/2035
 
 
155,000
 
 
156,194
DXC Technology Co., 2.38%, 09/15/2028
 
 
176,000
 
 
165,304
Hewlett Packard Enterprise Co.
 
 
 
 
6.35%, 10/15/2045(b)
 
 
153,000
 
 
154,237
5.60%, 10/15/2054
 
 
171,000
 
 
154,472
HP, Inc., 6.10%, 04/25/2035
 
 
154,000
 
 
162,016
Qorvo, Inc., 4.38%, 10/15/2029
 
 
170,000
 
 
166,734
Skyworks Solutions, Inc.,
3.00%, 06/01/2031
 
 
181,000
 
 
163,092
SS&C Technologies, Inc.,
5.50%, 09/30/2027(a)
 
 
168,000
 
 
167,853
ZoomInfo Technologies LLC/ZoomInfo Finance Corp., 3.88%, 02/01/2029(a)
 
 
174,000
 
 
141,558
 
 
 
 
2,511,600
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Par
 
 
Value
Materials - 1.9%
 
 
 
 
LyondellBasell Industries NV,
4.63%, 02/26/2055
 
 
$209,000
 
 
$158,357
Olin Corp., 6.63%, 04/01/2033(a)
 
 
159,000
 
 
157,513
 
 
 
 
315,870
TOTAL CORPORATE BONDS
(Cost$16,490,975)
 
 
 
 
16,298,418
TOTAL INVESTMENTS - 98.2%
(Cost $16,490,975)
 
 
 
 
$16,298,418
Other Assets in Excess of
Liabilities - 1.8%
 
 
 
 
291,911
TOTAL NET ASSETS - 100.0%
 
 
 
 
$16,590,329
 
 
 
 
 
 
 
Par amount is in USD unless otherwise indicated.
Percentages are stated as a percent of net assets.
CMT - Constant Maturity Treasury
LLC - Limited Liability Company
PLC - Public Limited Company
The Global Industry Classification Standard (“GICS®”) was developed by and/or is the exclusive property of MSCI, Inc. (“MSCI”) and Standard & Poor’s Financial Services LLC (“S&P”). GICS® is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services.
(a)
Security is exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may only be resold in transactions exempt from registration to qualified institutional investors. As of April 30, 2026, the value of these securities total $2,285,149 or 13.8% of the Fund’s net assets.
(b)
Step coupon bond. The rate disclosed is as of April 30, 2026.
The accompanying notes are an integral part of these financial statements.
 
60
 

TABLE OF CONTENTS

PACER FUNDS
STATEMENTS OF ASSETS AND LIABILITIES
April 30, 2026 (Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pacer
ActiveAlpha
India Quality
ETF
 
 
Pacer
American Energy
Infrastructure
ETF
 
 
Pacer
BlueStar Digital
Entertainment
ETF
 
 
Pacer
BlueStar
Engineering
the Future
ETF
 
 
Pacer
Cash COWZ
100-Nasdaq
100 Rotator
ETF
ASSETS:
 
 
 
 
 
 
 
 
 
 
Investments, at value
 
 
$ 1,056,465
 
 
$ 123,439,708
 
 
$3,981,694
 
 
$ 5,144,059
 
 
$ 30,439,080
Cash and cash equivalents
 
 
530
 
 
43,218
 
 
2,114
 
 
2,700
 
 
26,499
Interest receivable
 
 
12
 
 
175
 
 
4
 
 
6
 
 
28
Receivable for investments sold
 
 
​—
 
 
​—
 
 
​—
 
 
​—
 
 
44,105,600
Receivable for fund shares sold
 
 
​—
 
 
​—
 
 
​—
 
 
​—
 
 
15,876,540
Dividends receivable
 
 
​—
 
 
275,333
 
 
6,612
 
 
6,779
 
 
36,629
Dividend tax reclaims receivable
 
 
​—
 
 
12,439
 
 
419
 
 
611
 
 
1,149
Security lending income receivable
 
 
​—
 
 
3,256
 
 
15
 
 
43
 
 
​—
Total assets
 
 
​1,057,007
 
 
123,774,129
 
 
3,990,858
 
 
5,154,198
 
 
90,485,525
LIABILITIES:
 
 
 
 
 
 
 
 
 
 
Payable to Adviser
 
 
736
 
 
64,334
 
 
1,564
 
 
1,766
 
 
12,123
Payable for investments purchased
 
 
​—
 
 
​—
 
 
​—
 
 
​—
 
 
43,725,336
Payable for fund shares redeemed
 
 
​—
 
 
​—
 
 
​—
 
 
​—
 
 
16,029,840
Payable upon return of securities loaned
 
 
​—
 
 
14,616,236
 
 
59,009
 
 
267,361
 
 
​—
Payable to custodian foreign currency, at value
 
 
​—
 
 
36,310
 
 
707
 
 
64
 
 
​—
Total liabilities
 
 
​736
 
 
14,716,880
 
 
61,280
 
 
269,191
 
 
59,767,299
NET ASSETS
 
 
​$ 1,056,271
 
 
$ 109,057,249
 
 
$3,929,578
 
 
$ 4,885,007
 
 
$ 30,718,226
Net Assets Consist of:
 
 
 
 
 
 
 
 
 
 
Paid-in capital
 
 
$ 1,001,540
 
 
$70,717,450
 
 
$5,097,606
 
 
$ 4,172,559
 
 
$ 29,218,960
Total distributable earnings/(accumulated losses)
 
 
​54,731
 
 
38,339,799
 
 
(1,168,028)
 
 
712,448
 
 
1,499,266
Total net assets
 
 
​$ 1,056,271
 
 
$ 109,057,249
 
 
$3,929,578
 
 
$ 4,885,007
 
 
$ 30,718,226
Net assets
 
 
$ 1,056,271
 
 
$ 109,057,249
 
 
$3,929,578
 
 
$ 4,885,007
 
 
$ 30,718,226
Shares issued and outstanding (unlimited shares authorized without par value)
 
 
40,000
 
 
2,300,000
 
 
160,000
 
 
160,000
 
 
1,150,000
Net asset value per share
 
 
$26.41
 
 
$47.42
 
 
$24.56
 
 
$30.53
 
 
$26.71
Cost:
 
 
 
 
 
 
 
 
 
 
​
Investments, at cost
 
 
$986,142
 
 
$94,792,444
 
 
$4,821,385
 
 
$ 4,353,543
 
 
$ 30,347,715
Proceeds:
 
 
 
 
 
 
 
 
 
 
​
Foreign currency proceeds
 
 
$ —
 
 
$36,717
 
 
$702
 
 
$60
 
 
$ —
Loaned Securities:
 
 
 
 
 
 
 
 
 
 
at value (included in investments)
 
 
$ —
 
 
$14,550,785
 
 
$58,308
 
 
$265,049
 
 
$ —
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
61
 

TABLE OF CONTENTS

PACER FUNDS
STATEMENTS OF ASSETS AND LIABILITIES
April 30, 2026 (Unaudited)(Continued)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pacer
Developed
Markets Cash
Cows Growth
Leaders ETF
 
 
Pacer
Metaurus
Nasdaq 100
Dividend
Multiplier
600 ETF
 
 
Pacer
Metaurus US
Large Cap
Dividend
Multiplier
400 ETF
 
 
Pacer
PE/VC
ETF
 
 
Pacer
S&P 500
Quality FCF
Aristocrats
ETF
ASSETS:
 
 
 
 
 
 
 
 
 
 
Investments, at value
 
 
$ 2,532,930
 
 
$ 16,727,668
 
 
$ 1,562,126,453
 
 
$ 2,066,123
 
 
$ 22,965,573
Dividends receivable
 
 
12,477
 
 
421
 
 
566,063
 
 
920
 
 
12,647
Receivable for investments sold
 
 
3,555
 
 
​—
 
 
​—
 
 
​—
 
 
​—
Dividend tax reclaims receivable
 
 
1,930
 
 
​—
 
 
5,644
 
 
38
 
 
214
Cash and cash equivalents
 
 
1,613
 
 
1,041,460
 
 
5,685,529
 
 
186,627
 
 
14,733
Interest receivable
 
 
10
 
 
2,229
 
 
1,343,076
 
 
575
 
 
67
Security lending income receivable
 
 
​—
 
 
101
 
 
1,834
 
 
​—
 
 
​—
Receivable for swap contracts
 
 
​—
 
 
​—
 
 
​—
 
 
58,572
 
 
​—
Deposit at broker for other investments
 
 
​—
 
 
577,767
 
 
14,173,307
 
 
​—
 
 
​—
Total assets
 
 
​2,552,515
 
 
18,349,646
 
 
1,583,901,906
 
 
2,312,855
 
 
22,993,234
LIABILITIES:
 
 
 
 
 
 
 
 
 
 
Payable to Adviser
 
 
1,483
 
 
8,344
 
 
734,005
 
 
1,715
 
 
7,858
Payable to custodian foreign currency, at value
 
 
689
 
 
​—
 
 
​—
 
 
​—
 
 
​—
Payable to custodian
 
 
536
 
 
​—
 
 
​—
 
 
​—
 
 
​—
Payable for swap contracts
 
 
​—
 
 
​—
 
 
​—
 
 
11,390
 
 
​—
Distributions payable
 
 
​—
 
 
32,850
 
 
4,216,224
 
 
​—
 
 
​—
Payable upon return of securities loaned
 
 
​—
 
 
331,166
 
 
17,677,045
 
 
​—
 
 
​—
Payable for expenses and other liabilities
 
 
​—
 
 
8,871
 
 
239,540
 
 
​—
 
 
1
Total liabilities
 
 
​2,708
 
 
381,231
 
 
22,866,814
 
 
13,105
 
 
7,859
NET ASSETS
 
 
​$ 2,549,807
 
 
$ 17,968,415
 
 
$ 1,561,035,092
 
 
$ 2,299,750
 
 
$ 22,985,375
Net Assets Consist of:
 
 
 
 
 
 
 
 
 
 
Paid-in capital
 
 
$ 2,087,014
 
 
$ 15,322,253
 
 
$ 1,309,848,507
 
 
$ 2,100,504
 
 
$ 21,304,766
Total distributable earnings
 
 
​462,793
 
 
2,646,162
 
 
251,186,585
 
 
199,246
 
 
1,680,609
Total net assets
 
 
​$ 2,549,807
 
 
$ 17,968,415
 
 
$ 1,561,035,092
 
 
$ 2,299,750
 
 
$ 22,985,375
Net assets
 
 
$ 2,549,807
 
 
$ 17,968,415
 
 
$ 1,561,035,092
 
 
$ 2,299,750
 
 
$ 22,985,375
Shares issued and outstanding (unlimited shares authorized without par value)
 
 
100,000
 
 
450,000
 
 
35,520,000
 
 
80,000
 
 
950,000
Net asset value per share
 
 
$25.50
 
 
$39.93
 
 
$43.95
 
 
$28.75
 
 
$24.20
Cost:
 
 
 
 
 
 
 
 
 
 
​
Investments, at cost
 
 
$ 2,200,498
 
 
$ 14,047,344
 
 
$ 1,308,727,569
 
 
$ 1,874,428
 
 
$ 21,771,407
Proceeds:
 
 
 
 
 
 
 
 
 
 
​
Foreign currency proceeds
 
 
$691
 
 
$ —
 
 
$ —
 
 
$ —
 
 
$ —
Loaned Securities:
 
 
 
 
 
 
 
 
 
 
at value (included in investments)
 
 
$ —
 
 
$330,422
 
 
$17,645,767
 
 
$ —
 
 
$ —
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
62
 

TABLE OF CONTENTS

PACER FUNDS
STATEMENTS OF ASSETS AND LIABILITIES
April 30, 2026 (Unaudited)(Continued)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pacer
S&P 500
Quality
FCF High
Dividend
ETF
 
 
Pacer
S&P 500
Quality
FCF R&D
Leaders
ETF
 
 
Pacer
S&P MidCap
400 Quality
FCF Aristocrats
ETF
 
 
Pacer
S&P SmallCap
600 Quality
FCF Aristocrats
ETF
 
 
Pacer
Solactive
Whitney
Future of
Warfare
ETF
ASSETS:
 
 
 
 
 
 
 
 
 
 
Investments, at value
 
 
$ 530,155
 
 
$ 1,010,309
 
 
$984,382
 
 
$ 1,542,788
 
 
$14,776,211
Dividends receivable
 
 
747
 
 
374
 
 
306
 
 
143
 
 
25,286
Cash and cash equivalents
 
 
614
 
 
620
 
 
619
 
 
1,182
 
 
12,375
Dividend tax reclaims receivable
 
 
7
 
 
​—
 
 
6
 
 
​—
 
 
968
Interest receivable
 
 
​1
 
 
1
 
 
1
 
 
2
 
 
20
Total assets
 
 
​531,524
 
 
1,011,304
 
 
985,314
 
 
1,544,115
 
 
14,814,860
LIABILITIES:
 
 
 
 
 
 
 
 
 
 
Payable to Adviser
 
 
219
 
 
394
 
 
393
 
 
729
 
 
6,028
Payable to custodian foreign currency, at value
 
 
​—
 
 
​—
 
 
​—
 
 
​—
 
 
3,843
Total liabilities
 
 
​219
 
 
394
 
 
393
 
 
729
 
 
9,871
NET ASSETS
 
 
​$ 531,305
 
 
$ 1,010,910
 
 
$984,921
 
 
$ 1,543,386
 
 
$ 14,804,989
Net Assets Consist of:
 
 
 
 
 
 
 
 
 
 
Paid-in capital
 
 
$ 483,376
 
 
$991,230
 
 
$998,155
 
 
$ 1,560,388
 
 
$ 14,245,053
Total distributable earnings/(accumulated losses)
 
 
​47,929
 
 
19,680
 
 
(13,234)
 
 
(17,002)
 
 
559,936
Total net assets
 
 
​$ 531,305
 
 
$ 1,010,910
 
 
$984,921
 
 
$ 1,543,386
 
 
$ 14,804,989
Net assets
 
 
$ 531,305
 
 
$ 1,010,910
 
 
$984,921
 
 
$ 1,543,386
 
 
$ 14,804,989
Shares issued and outstanding (unlimited shares authorized without par value)
 
 
20,000
 
 
40,000
 
 
50,000
 
 
75,000
 
 
450,000
Net asset value per share
 
 
$26.57
 
 
$25.27
 
 
$19.70
 
 
$20.58
 
 
$32.90
Cost:
 
 
 
 
 
 
 
 
 
 
​
Investments, at cost
 
 
$ 528,017
 
 
$ 1,038,961
 
 
$ 1,031,820
 
 
$ 1,494,206
 
 
$ 14,467,593
Proceeds:
 
 
 
 
 
 
 
 
 
 
​
Foreign currency proceeds
 
 
$ —
 
 
$ —
 
 
$ —
 
 
$ —
 
 
$3,842
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
63
 

TABLE OF CONTENTS

PACER FUNDS
STATEMENTS OF ASSETS AND LIABILITIES
April 30, 2026 (Unaudited)(Continued)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pacer
Swan SOS
Conservative
April ETF
 
 
Pacer
Swan SOS
Conservative
January ETF
 
 
Pacer
Swan SOS
Conservative
July ETF
 
 
Pacer
Swan SOS
Conservative
October ETF
 
 
Pacer
Swan SOS
Flex
April ETF
ASSETS:
 
 
 
 
 
 
 
 
 
 
Investments, at value
 
 
$ 65,245,987
 
 
$ 48,034,396
 
 
$ 43,369,332
 
 
$ 48,764,456
 
 
$ 23,878,154
Cash and cash equivalents
 
 
296,006
 
 
206,743
 
 
177,606
 
 
74,861
 
 
115,474
Deposit at broker for other investments
 
 
12,374
 
 
5,962
 
 
6,156
 
 
5,014
 
 
4,790
Interest receivable
 
 
​634
 
 
443
 
 
392
 
 
204
 
 
247
Total assets
 
 
​65,555,001
 
 
48,247,544
 
 
43,553,486
 
 
48,844,535
 
 
23,998,665
LIABILITIES:
 
 
 
 
 
 
 
 
 
 
Written option contracts, at value
 
 
4,932,065
 
 
1,803,712
 
 
2,302,702
 
 
1,537,650
 
 
1,774,275
Payable to Adviser
 
 
29,402
 
 
22,415
 
 
20,019
 
 
22,931
 
 
10,723
Payable for expenses and other liabilities
 
 
​—
 
 
​—
 
 
5
 
 
3
 
 
3
Total liabilities
 
 
​4,961,467
 
 
1,826,127
 
 
2,322,726
 
 
1,560,584
 
 
1,785,001
NET ASSETS
 
 
​$ 60,593,534
 
 
$ 46,421,417
 
 
$ 41,230,760
 
 
$ 47,283,951
 
 
$ 22,213,664
Net Assets Consist of:
 
 
 
 
 
 
 
 
 
 
Paid-in capital
 
 
$ 53,418,099
 
 
$ 45,345,763
 
 
$ 38,182,546
 
 
$ 47,404,986
 
 
$ 23,484,687
Total distributable earnings/(accumulated losses)
 
 
​7,175,435
 
 
1,075,654
 
 
3,048,214
 
 
(121,035)
 
 
(1,271,023)
Total net assets
 
 
​$ 60,593,534
 
 
$ 46,421,417
 
 
$ 41,230,760
 
 
$ 47,283,951
 
 
$ 22,213,664
Net assets
 
 
$ 60,593,534
 
 
$ 46,421,417
 
 
$ 41,230,760
 
 
$ 47,283,951
 
 
$ 22,213,664
Shares issued and outstanding (unlimited shares authorized without par value)
 
 
2,050,000
 
 
1,450,000
 
 
1,325,000
 
 
1,550,000
 
 
650,000
Net asset value per share
 
 
$29.56
 
 
$32.01
 
 
$31.12
 
 
$30.51
 
 
$34.17
Cost:
 
 
 
 
 
 
 
 
 
 
​
Investments, at cost
 
 
$ 60,634,638
 
 
$ 46,218,808
 
 
$ 38,359,524
 
 
$ 46,379,706
 
 
$ 22,438,603
Proceeds:
 
 
 
 
 
 
 
 
 
 
Written options premium received
 
 
$2,675,929
 
 
$1,500,532
 
 
$1,263,664
 
 
$1,654,672
 
 
$1,470,890
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
64
 

TABLE OF CONTENTS

PACER FUNDS
STATEMENTS OF ASSETS AND LIABILITIES
April 30, 2026 (Unaudited)(Continued)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pacer
Swan SOS
Flex
January ETF
 
 
Pacer
Swan SOS
Flex
July ETF
 
 
Pacer
Swan SOS
Flex
October ETF
 
 
Pacer
Swan SOS
Fund of
Funds ETF
 
 
Pacer
Swan SOS
Moderate
April ETF
ASSETS:
 
 
 
 
 
 
 
 
 
 
Investments in unaffiliated securities,
at value
 
 
$ 60,619,059
 
 
$ 35,792,218
 
 
$ 45,802,316
 
 
$ —
 
 
$ 93,290,503
Investments in affiliated securities,
at value
 
 
​—
 
 
​—
 
 
​—
 
 
564,990,012
 
 
​—
Cash and cash equivalents
 
 
266,361
 
 
174,058
 
 
250,989
 
 
2,538,234
 
 
396,962
Deposit at broker for other investments
 
 
4,087
 
 
5,200
 
 
6,902
 
 
​—
 
 
5,054
Interest receivable
 
 
779
 
 
399
 
 
539
 
 
5,394
 
 
850
Security lending income receivable
 
 
​—
 
 
​—
 
 
​—
 
 
177
 
 
​—
Receivable for transaction fee
 
 
​—
 
 
​—
 
 
​—
 
 
7,966
 
 
​—
Total assets
 
 
​60,890,286
 
 
35,971,875
 
 
46,060,746
 
 
567,541,783
 
 
93,693,369
LIABILITIES:
 
 
 
 
 
 
 
 
 
 
Written option contracts, at value
 
 
2,549,509
 
 
1,483,360
 
 
1,336,130
 
 
​—
 
 
7,369,777
Payable to Adviser
 
 
27,845
 
 
16,798
 
 
21,667
 
 
54,762
 
 
41,814
Payable for expenses and other liabilities
 
 
​11
 
 
5
 
 
7
 
 
74
 
 
​—
Total liabilities
 
 
​2,577,365
 
 
1,500,163
 
 
1,357,804
 
 
54,836
 
 
7,411,591
NET ASSETS
 
 
​$ 58,312,921
 
 
$ 34,471,712
 
 
$ 44,702,942
 
 
$ 567,486,947
 
 
$ 86,281,778
Net Assets Consist of:
 
 
 
 
 
 
 
 
 
 
Paid-in capital
 
 
$ 58,407,287
 
 
$ 34,003,736
 
 
$ 45,435,164
 
 
$ 463,753,754
 
 
$ 81,722,452
Total distributable earnings/(accumulated losses)
 
 
​(94,366)
 
 
467,976
 
 
(732,222)
 
 
103,733,193
 
 
4,559,326
Total net assets
 
 
​$ 58,312,921
 
 
$ 34,471,712
 
 
$ 44,702,942
 
 
$ 567,486,947
 
 
$ 86,281,778
Net assets
 
 
$ 58,312,921
 
 
$ 34,471,712
 
 
$ 44,702,942
 
 
$ 567,486,947
 
 
$ 86,281,778
Shares issued and outstanding (unlimited shares authorized without par value)
 
 
1,500,000
 
 
1,000,000
 
 
1,325,000
 
 
16,900,000
 
 
2,725,000
Net asset value per share
 
 
$38.88
 
 
$34.47
 
 
$33.74
 
 
$33.58
 
 
$31.66
Cost:
 
 
 
 
 
 
 
 
 
 
Investments in unaffiliated securities,
at cost
 
 
$ 58,747,932
 
 
$ 32,090,104
 
 
$ 44,063,961
 
 
$ —
 
 
$ 87,351,922
Investments in affiliated securities,
at cost
 
 
$ —
 
 
$ —
 
 
$ —
 
 
$ 473,404,208
 
 
$ —
Proceeds:
 
 
 
 
 
 
 
 
 
 
Written options premium received
 
 
$2,950,505
 
 
$1,683,228
 
 
$2,306,613
 
 
$ —
 
 
$5,086,524
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
65
 

TABLE OF CONTENTS

PACER FUNDS
STATEMENTS OF ASSETS AND LIABILITIES
April 30, 2026 (Unaudited)(Continued)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pacer
Swan SOS
Moderate
January ETF
 
 
Pacer
Swan SOS
Moderate
July ETF
 
 
Pacer
Swan SOS
Moderate
October ETF
 
 
Pacer
US Cash
Cows
Bond ETF
ASSETS:
 
 
 
 
 
 
 
 
Investments, at value
 
 
$ 97,127,400
 
 
$ 92,673,464
 
 
$ 101,656,271
 
 
$ 16,298,418
Cash and cash equivalents
 
 
474,799
 
 
482,936
 
 
482,850
 
 
399,079
Deposit at broker for other investments
 
 
5,818
 
 
5,852
 
 
6,816
 
 
​—
Interest receivable
 
 
​1,016
 
 
1,033
 
 
1,035
 
 
236,816
Total assets
 
 
​97,609,033
 
 
93,163,285
 
 
102,146,972
 
 
16,934,313
LIABILITIES:
 
 
 
 
 
 
 
 
Written option contracts, at value
 
 
4,280,922
 
 
4,986,527
 
 
3,462,388
 
 
​—
Payable to Adviser
 
 
45,016
 
 
42,707
 
 
47,615
 
 
6,322
Interest payable
 
 
1
 
 
​—
 
 
​—
 
 
​—
Payable for investments purchased
 
 
​—
 
 
​—
 
 
​—
 
 
337,662
Payable for expenses and other liabilities
 
 
​14
 
 
14
 
 
13
 
 
​—
Total liabilities
 
 
​4,325,953
 
 
5,029,248
 
 
3,510,016
 
 
343,984
NET ASSETS
 
 
​$ 93,283,080
 
 
$ 88,134,037
 
 
$98,636,956
 
 
$ 16,590,329
Net Assets Consist of:
 
 
 
 
 
 
 
 
Paid-in capital
 
 
$ 93,169,831
 
 
$ 85,472,543
 
 
$ 103,239,408
 
 
$ 16,777,478
Total distributable earnings/(accumulated losses)
 
 
​113,249
 
 
2,661,494
 
 
(4,602,452)
 
 
(187,149)
Total net assets
 
 
​$ 93,283,080
 
 
$ 88,134,037
 
 
$98,636,956
 
 
$ 16,590,329
Net assets
 
 
$ 93,283,080
 
 
$ 88,134,037
 
 
$98,636,956
 
 
$ 16,590,329
Shares issued and outstanding (unlimited shares authorized without par value)
 
 
2,775,000
 
 
2,650,000
 
 
3,100,000
 
 
680,000
Net asset value per share
 
 
$33.62
 
 
$33.26
 
 
$31.82
 
 
$24.40
Cost:
 
 
 
 
 
 
 
 
​
Investments, at cost
 
 
$93,915,311
 
 
$ 82,893,368
 
 
$97,368,038
 
 
$ 16,490,975
Proceeds:
 
 
 
 
 
 
 
 
Written options premium received
 
 
$4,232,209
 
 
$3,718,296
 
 
$4,637,877
 
 
$ —
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
66
 

TABLE OF CONTENTS

PACER FUNDS
STATEMENTS OF OPERATIONS
For the Period Ended April 30, 2026 (Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pacer
ActiveAlpha
India Quality
ETF(a)
 
 
Pacer
American Energy
Infrastructure
ETF
 
 
Pacer
BlueStar Digital
Entertainment
ETF
 
 
Pacer
BlueStar
Engineering
the Future
ETF
 
 
Pacer
Cash COWZ
100-Nasdaq
100 Rotator
ETF
INVESTMENT INCOME:
 
 
 
 
 
 
 
 
 
 
Dividend income
 
 
$—
 
 
$1,048,017
 
 
$16,065
 
 
$11,946
 
 
$200,032
Less: dividend withholding taxes
 
 
—
 
 
(82,361)
 
 
(1,390)
 
 
(1,176)
 
 
(70)
Less: issuance fees
 
 
—
 
 
—
 
 
(4)
 
 
(228)
 
 
—
Interest income
 
 
11
 
 
1,538
 
 
77
 
 
39
 
 
265
Securities lending income
 
 
—
 
 
34,501
 
 
291
 
 
156
 
 
—
Total investment income
 
 
11
 
 
1,001,695
 
 
15,039
 
 
10,737
 
 
200,227
EXPENSES:
 
 
 
 
 
 
 
 
 
 
Investment advisory fee
 
 
735
 
 
336,190
 
 
10,399
 
 
6,982
 
 
50,880
Total expenses
 
 
735
 
 
336,190
 
 
10,399
 
 
6,982
 
 
50,880
Net investment income/(loss)
 
 
(724)
 
 
665,505
 
 
4,640
 
 
3,755
 
 
149,347
REALIZED AND UNREALIZED
GAIN (LOSS)
 
 
 
 
 
 
 
 
 
 
Net realized gain (loss) from:
 
 
 
 
 
 
 
 
 
 
Investments
 
 
—
 
 
13,707,051
 
 
(188,303)
 
 
(72,698)
 
 
1,340,610
Foreign currency translation
 
 
(14,868)
 
 
(6,994)
 
 
139
 
 
(102)
 
 
—
Net realized gain (loss)
 
 
(14,868)
 
 
13,700,057
 
 
(188,164)
 
 
(72,800)
 
 
1,340,610
Net change in unrealized appreciation (depreciation) on:
 
 
 
 
 
 
 
 
 
 
Investments
 
 
70,323
 
 
9,790,508
 
 
(789,710)
 
 
405,389
 
 
(540,765)
Foreign currency translation
 
 
—
 
 
1,101
 
 
176
 
 
162
 
 
—
Net change in unrealized appreciation (depreciation)
 
 
70,323
 
 
9,791,609
 
 
(789,534)
 
 
405,551
 
 
(540,765)
Net realized and unrealized gain (loss)
 
 
55,455
 
 
23,491,666
 
 
(977,698)
 
 
332,751
 
 
799,845
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS
 
 
$54,731
 
 
$ 24,157,171
 
 
$ (973,058)
 
 
$ 336,506
 
 
$949,192
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Inception date of the Fund was March 31, 2026.
The accompanying notes are an integral part of these financial statements.
 
67
 

TABLE OF CONTENTS

PACER FUNDS
STATEMENTS OF OPERATIONS
For the Period Ended April 30, 2026 (Unaudited) (Continued)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pacer
Developed
Markets Cash
Cows Growth
Leaders ETF
 
 
Pacer
Metaurus
Nasdaq 100
Dividend
Multiplier
600 ETF
 
 
Pacer
Metaurus US
Large Cap
Dividend
Multiplier
400 ETF
 
 
Pacer
PE/VC
ETF
 
 
Pacer
S&P 500
Quality FCF
Aristocrats
ETF
INVESTMENT INCOME:
 
 
 
 
 
 
 
 
 
 
Dividend income
 
 
$32,658
 
 
$43,715
 
 
$7,572,090
 
 
$16,886
 
 
$ 107,017
Less: dividend withholding taxes
 
 
(3,624)
 
 
(182)
 
 
(1,686)
 
 
(6)
 
 
—
Less: issuance fees
 
 
—
 
 
—
 
 
(45)
 
 
—
 
 
—
Interest income
 
 
63
 
 
18,927
 
 
2,668,943
 
 
4,563
 
 
176
Securities lending income
 
 
21
 
 
826
 
 
15,274
 
 
—
 
 
—
Total investment income
 
 
29,118
 
 
63,286
 
 
10,254,576
 
 
21,443
 
 
107,193
EXPENSES:
 
 
 
 
 
 
 
 
 
 
Investment advisory fee
 
 
9,523
 
 
44,396
 
 
4,227,437
 
 
13,625
 
 
41,478
Total expenses
 
 
9,523
 
 
44,396
 
 
4,227,437
 
 
13,625
 
 
41,478
Net investment income
 
 
19,595
 
 
18,890
 
 
6,027,139
 
 
7,818
 
 
65,715
REALIZED AND UNREALIZED
GAIN (LOSS)
 
 
 
 
 
 
 
 
 
 
Net realized gain (loss) from:
 
 
 
 
 
 
 
 
 
 
Investments
 
 
212,222
 
 
317,318
 
 
31,950,624
 
 
71,844
 
 
524,083
Futures contracts
 
 
—
 
 
(5,941)
 
 
3,237,827
 
 
—
 
 
—
Swap contracts
 
 
—
 
 
—
 
 
—
 
 
(73,701)
 
 
—
Foreign currency translation
 
 
1,107
 
 
—
 
 
—
 
 
—
 
 
—
Net realized gain (loss)
 
 
213,329
 
 
311,377
 
 
35,188,451
 
 
(1,857)
 
 
524,083
Net change in unrealized appreciation (depreciation) on:
 
 
 
 
 
 
 
 
 
 
Investments
 
 
107,836
 
 
702,704
 
 
39,164,688
 
 
(60,885)
 
 
74,260
Future contracts
 
 
—
 
 
(25,681)
 
 
2,408,751
 
 
—
 
 
—
Swap contracts
 
 
—
 
 
—
 
 
—
 
 
33,682
 
 
—
Foreign currency translation
 
 
274
 
 
—
 
 
—
 
 
—
 
 
—
Net change in unrealized appreciation (depreciation)
 
 
108,110
 
 
677,023
 
 
41,573,439
 
 
(27,203)
 
 
74,260
Net realized and unrealized gain (loss)
 
 
321,439
 
 
988,400
 
 
76,761,890
 
 
(29,060)
 
 
598,343
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS
 
 
$ 341,034
 
 
$ 1,007,290
 
 
$ 82,789,029
 
 
$ (21,242)
 
 
$ 664,058
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
68
 

TABLE OF CONTENTS

PACER FUNDS
STATEMENTS OF OPERATIONS
For the Period Ended April 30, 2026 (Unaudited) (Continued)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pacer
S&P 500
Quality
FCF High
Dividend
ETF(a)
 
 
Pacer
S&P 500
Quality
FCF R&D
Leaders
ETF(a)
 
 
Pacer
S&P MidCap
400 Quality
FCF Aristocrats
ETF
 
 
Pacer
S&P SmallCap
600 Quality
FCF Aristocrats
ETF
 
 
Pacer
Solactive
Whitney
Future of
Warfare
ETF
INVESTMENT INCOME:
 
 
 
 
 
 
 
 
 
 
Dividend income
 
 
$8,685
 
 
$2,264
 
 
$3,853
 
 
$6,690
 
 
$78,202
Less: dividend withholding taxes
 
 
—
 
 
(12)
 
 
(28)
 
 
—
 
 
(2,576)
Interest income
 
 
7
 
 
5
 
 
8
 
 
16
 
 
166
Total investment income
 
 
8,692
 
 
2,257
 
 
3,833
 
 
6,706
 
 
75,792
EXPENSES:
 
 
 
 
 
 
 
 
 
 
Investment advisory fee
 
 
1,236
 
 
1,380
 
 
2,383
 
 
3,542
 
 
25,228
Total expenses
 
 
1,236
 
 
1,380
 
 
2,383
 
 
3,542
 
 
25,228
Net investment income
 
 
7,456
 
 
877
 
 
1,450
 
 
3,164
 
 
50,564
REALIZED AND UNREALIZED
GAIN (LOSS)
 
 
 
 
 
 
 
 
 
 
Net realized gain (loss) from:
 
 
 
 
 
 
 
 
 
 
Investments
 
 
42,763
 
 
47,776
 
 
35,998
 
 
(38,821)
 
 
244,297
Foreign currency translation
 
 
—
 
 
—
 
 
—
 
 
—
 
 
(561)
Net realized gain (loss)
 
 
42,763
 
 
47,776
 
 
35,998
 
 
(38,821)
 
 
243,736
Net change in unrealized appreciation (depreciation) on:
 
 
 
 
 
 
 
 
 
 
Investments
 
 
2,138
 
 
(28,652)
 
 
(50,276)
 
 
94,866
 
 
(31,435)
Foreign currency translation
 
 
—
 
 
—
 
 
—
 
 
—
 
 
93
Net change in unrealized appreciation (depreciation)
 
 
2,138
 
 
(28,652)
 
 
(50,276)
 
 
94,866
 
 
(31,342)
Net realized and unrealized gain (loss)
 
 
44,901
 
 
19,124
 
 
(14,278)
 
 
56,045
 
 
212,394
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS
 
 
$ 52,357
 
 
$20,001
 
 
$ (12,828)
 
 
$59,209
 
 
$ 262,958
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Inception date of the Fund was January 12, 2026.
The accompanying notes are an integral part of these financial statements.
 
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PACER FUNDS
STATEMENTS OF OPERATIONS
For the Period Ended April 30, 2026 (Unaudited) (Continued)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pacer
Swan SOS
Conservative
April ETF
 
 
Pacer
Swan SOS
Conservative
January ETF
 
 
Pacer
Swan SOS
Conservative
July ETF
 
 
Pacer
Swan SOS
Conservative
October ETF
 
 
Pacer
Swan SOS
Flex
April ETF
INVESTMENT INCOME:
 
 
 
 
 
 
 
 
 
 
Interest income
 
 
$5,052
 
 
$2,812
 
 
$3,172
 
 
$411
 
 
$1,765
Total investment income
 
 
5,052
 
 
2,812
 
 
3,172
 
 
411
 
 
1,765
EXPENSES:
 
 
 
 
 
 
 
 
 
 
Investment advisory fee
 
 
195,343
 
 
118,448
 
 
122,299
 
 
139,341
 
 
63,533
Total expenses
 
 
195,343
 
 
118,448
 
 
122,299
 
 
139,341
 
 
63,533
Net investment loss
 
 
(190,291)
 
 
(115,636)
 
 
(119,127)
 
 
(138,930)
 
 
(61,768)
REALIZED AND UNREALIZED
GAIN (LOSS)
 
 
 
 
 
 
 
 
 
 
Net realized gain (loss) from:
 
 
 
 
 
 
 
 
 
 
Investments
 
 
9,288,214
 
 
3,870,128
 
 
65,949
 
 
(45,076)
 
 
1,939,601
Written option contracts expired or closed
 
 
(356,650)
 
 
(201,062)
 
 
(65,937)
 
 
8,710
 
 
746,019
Net realized gain (loss)
 
 
8,931,564
 
 
3,669,066
 
 
12
 
 
(36,366)
 
 
2,685,620
Net change in unrealized appreciation (depreciation) on:
 
 
 
 
 
 
 
 
 
 
Investments
 
 
(8,850,073)
 
 
(2,160,697)
 
 
1,525,503
 
 
1,586,717
 
 
(2,025,902)
Written option contracts
 
 
4,406,169
 
 
620,593
 
 
443,371
 
 
533,291
 
 
1,177,335
Net change in unrealized appreciation (depreciation)
 
 
(4,443,904)
 
 
(1,540,104)
 
 
1,968,874
 
 
2,120,008
 
 
(848,567)
Net realized and unrealized gain (loss)
 
 
4,487,660
 
 
2,128,962
 
 
1,968,886
 
 
2,083,642
 
 
1,837,053
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS
 
 
$4,297,369
 
 
$2,013,326
 
 
$ 1,849,759
 
 
$ 1,944,712
 
 
$1,775,285
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
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TABLE OF CONTENTS

PACER FUNDS
STATEMENTS OF OPERATIONS
For the Period Ended April 30, 2026 (Unaudited) (Continued)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pacer
Swan SOS
Flex
January ETF
 
 
Pacer
Swan SOS
Flex
July ETF
 
 
Pacer
Swan SOS
Flex
October ETF
 
 
Pacer
Swan SOS
Fund of
Funds ETF
 
 
Pacer
Swan SOS
Moderate
April ETF
INVESTMENT INCOME:
 
 
 
 
 
 
 
 
 
 
Interest income
 
 
$4,299
 
 
$2,975
 
 
$2,344
 
 
$33,796
 
 
$7,571
Securities lending income
 
 
—
 
 
—
 
 
—
 
 
8,934
 
 
—
Total investment income
 
 
4,299
 
 
2,975
 
 
2,344
 
 
42,730
 
 
7,571
EXPENSES:
 
 
 
 
 
 
 
 
 
 
Investment advisory fee
 
 
155,366
 
 
108,069
 
 
122,791
 
 
325,394
 
 
252,752
Total expenses
 
 
155,366
 
 
108,069
 
 
122,791
 
 
325,394
 
 
252,752
Net investment loss
 
 
(151,067)
 
 
(105,094)
 
 
(120,447)
 
 
(282,664)
 
 
(245,181)
REALIZED AND UNREALIZED
GAIN (LOSS)
 
 
 
 
 
 
 
 
 
 
Net realized gain (loss) from:
 
 
 
 
 
 
 
 
 
 
Investments in unaffiliated securities
 
 
5,151,165
 
 
7,276
 
 
(109,671)
 
 
—
 
 
10,258,789
Investments in affiliated securities
 
 
—
 
 
—
 
 
—
 
 
12,951,259
 
 
—
Written option contracts expired or closed
 
 
896,454
 
 
(61,540)
 
 
(1,455)
 
 
—
 
 
537,422
Net realized gain (loss)
 
 
6,047,619
 
 
(54,264)
 
 
(111,126)
 
 
12,951,259
 
 
10,796,211
Net change in unrealized appreciation (depreciation) on:
 
 
 
 
 
 
 
 
 
 
Investments in unaffiliated securities
 
 
(3,519,166)
 
 
1,013,772
 
 
1,288,143
 
 
—
 
 
(8,799,316)
Investments in affiliated securities
 
 
—
 
 
—
 
 
—
 
 
16,413,716
 
 
—
Written option contracts
 
 
727,712
 
 
897,033
 
 
1,138,970
 
 
—
 
 
4,534,693
Net change in unrealized appreciation (depreciation)
 
 
(2,791,454)
 
 
1,910,805
 
 
2,427,113
 
 
16,413,716
 
 
(4,264,623)
Net realized and unrealized gain (loss)
 
 
3,256,165
 
 
1,856,541
 
 
2,315,987
 
 
29,364,975
 
 
6,531,588
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS
 
 
$3,105,098
 
 
$ 1,751,447
 
 
$ 2,195,540
 
 
$29,082,311
 
 
$6,286,407
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
71
 

TABLE OF CONTENTS

PACER FUNDS
STATEMENTS OF OPERATIONS
For the Period Ended April 30, 2026 (Unaudited) (Continued)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pacer
Swan SOS
Moderate
January ETF
 
 
Pacer
Swan SOS
Moderate
July ETF
 
 
Pacer
Swan SOS
Moderate
October ETF
 
 
Pacer
US Cash
Cows
Bond ETF
INVESTMENT INCOME:
 
 
 
 
 
 
 
 
Interest income
 
 
$7,457
 
 
$7,873
 
 
$2,352
 
 
$317,058
Total investment income
 
 
7,457
 
 
7,873
 
 
2,352
 
 
317,058
EXPENSES:
 
 
 
 
 
 
 
 
Investment advisory fee
 
 
252,081
 
 
263,675
 
 
284,617
 
 
26,544
Total expenses
 
 
252,081
 
 
263,675
 
 
284,617
 
 
26,544
Net investment income/(loss)
 
 
(244,624)
 
 
(255,802)
 
 
(282,265)
 
 
290,514
REALIZED AND UNREALIZED GAIN (LOSS)
 
 
 
 
 
 
 
 
Net realized gain (loss) from:
 
 
 
 
 
 
 
 
Investments
 
 
8,985,536
 
 
117,769
 
 
(184,831)
 
 
8,713
Written option contracts expired or closed
 
 
107,132
 
 
(146,675)
 
 
(5,699)
 
 
—
Net realized gain (loss)
 
 
9,092,668
 
 
(28,906)
 
 
(190,530)
 
 
8,713
Net change in unrealized appreciation (depreciation) on:
 
 
 
 
 
 
 
 
Investments
 
 
(6,145,664)
 
 
2,915,864
 
 
2,915,859
 
 
(228,211)
Written option contracts
 
 
1,634,721
 
 
1,354,363
 
 
1,842,686
 
 
—
Net change in unrealized appreciation (depreciation)
 
 
(4,510,943)
 
 
4,270,227
 
 
4,758,545
 
 
(228,211)
Net realized and unrealized gain (loss)
 
 
4,581,725
 
 
4,241,321
 
 
4,568,015
 
 
(219,498)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS
 
 
$4,337,101
 
 
$ 3,985,519
 
 
$ 4,285,750
 
 
$71,016
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
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TABLE OF CONTENTS

Pacer Funds
Statements of Changes in Net Assets
 
 
 
 
 
 
 
 
 
 
Pacer
ActiveAlpha
India Quality
ETF
 
 
Pacer American Energy
Infrastructure ETF
 
 
 
Period Ended
April 30, 2026(a)
(Unaudited)
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Year Ended
October 31,
2025(b)
OPERATIONS:
 
 
 
 
 
 
Net investment income (loss)
 
 
$(724)
 
 
$665,505
 
 
$1,515,743
Net realized gain (loss)
 
 
(14,868)
 
 
13,700,057
 
 
3,049,502
Net change in unrealized appreciation (depreciation)
 
 
70,323
 
 
9,791,609
 
 
(1,710,776)
Net increase (decrease) in net assets from operations
 
 
54,731
 
 
24,157,171
 
 
2,854,469
DISTRIBUTIONS TO SHAREHOLDERS:
 
 
 
 
 
 
From earnings
 
 
—
 
 
(2,104,000)
 
 
(1,040,172)
From return of capital
 
 
—
 
 
—
 
 
(3,065,828)
Total distributions to shareholders
 
 
—
 
 
(2,104,000)
 
 
(4,106,000)
CAPITAL TRANSACTIONS:
 
 
 
 
 
 
Shares sold
 
 
1,000,000
 
 
36,707,445
 
 
26,801,225
Shares redeemed
 
 
—
 
 
(29,259,100)
 
 
(9,899,635)
ETF transaction fees (See Note 1)
 
 
1,540
 
 
—
 
 
—
Net increase (decrease) in net assets from capital transactions
 
 
1,001,540
 
 
7,448,345
 
 
16,901,590
Net increase (decrease) in net assets
 
 
1,056,271
 
 
29,501,516
 
 
15,650,059
NET ASSETS:
 
 
 
 
 
 
Beginning of the period
 
 
—
 
 
79,555,733
 
 
63,905,674
End of the period
 
 
$ 1,056,271
 
 
$ 109,057,249
 
 
$ 79,555,733
SHARES TRANSACTIONS
 
 
 
 
 
 
Shares sold
 
 
40,000
 
 
800,000
 
 
650,000
Shares redeemed
 
 
—
 
 
(650,000)
 
 
(250,000)
Total increase (decrease) in shares outstanding
 
 
40,000
 
 
150,000
 
 
400,000
 
 
 
 
 
 
 
 
 
 
(a)
Inception date of the Fund was March 31, 2026.
(b)
Effective 2/28/2026, the Fund changed its name from Pacer American Energy Independence ETF to Pacer American Energy Infrastructure ETF.
The accompanying notes are an integral part of these financial statements.
 
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TABLE OF CONTENTS

Pacer Funds
Statements of Changes in Net Assets(Continued)
 
 
 
 
 
 
 
 
 
 
Pacer BlueStar Digital
Entertainment ETF
 
 
Pacer BlueStar Engineering
the Future ETF
 
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Year Ended
October 31,
2025
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Year Ended
October 31,
2025
OPERATIONS:
 
 
 
 
 
 
 
 
Net investment income (loss)
 
 
$4,640
 
 
$45,675
 
 
$3,755
 
 
$2,126
Net realized gain (loss)
 
 
(188,164)
 
 
380,038
 
 
(72,800)
 
 
38,356
Net change in unrealized appreciation (depreciation)
 
 
(789,534)
 
 
(126,149)
 
 
405,551
 
 
400,837
Net increase (decrease) in net assets from operations
 
 
(973,058)
 
 
299,564
 
 
336,506
 
 
441,319
DISTRIBUTIONS TO SHAREHOLDERS:
 
 
 
 
 
 
 
 
From earnings
 
 
(7,111)
 
 
(46,758)
 
 
(23,979)
 
 
(1,847)
Total distributions to shareholders
 
 
(7,111)
 
 
(46,758)
 
 
(23,979)
 
 
(1,847)
CAPITAL TRANSACTIONS:
 
 
 
 
 
 
 
 
Shares sold
 
 
—
 
 
4,389,696
 
 
2,912,296
 
 
398,688
Shares redeemed
 
 
—
 
 
(693,686)
 
 
—
 
 
—
ETF transaction fees (See Note 1)
 
 
—
 
 
1,307
 
 
65
 
 
1
Net increase (decrease) in net assets from capital transactions
 
 
—
 
 
3,697,317
 
 
2,912,361
 
 
398,689
Net increase (decrease) in net assets
 
 
(980,169)
 
 
3,950,123
 
 
3,224,888
 
 
838,161
NET ASSETS:
 
 
 
 
 
 
 
 
Beginning of the period
 
 
4,909,747
 
 
959,624
 
 
1,660,119
 
 
821,958
End of the period
 
 
$ 3,929,578
 
 
$ 4,909,747
 
 
$ 4,885,007
 
 
$ 1,660,119
SHARES TRANSACTIONS
 
 
 
 
 
 
 
 
Shares sold
 
 
—
 
 
140,000
 
 
100,000
 
 
20,000
Shares redeemed
 
 
—
 
 
(20,000)
 
 
—
 
 
—
Total increase (decrease) in shares outstanding
 
 
—
 
 
120,000
 
 
100,000
 
 
20,000
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
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TABLE OF CONTENTS

Pacer Funds
Statements of Changes in Net Assets(Continued)
 
 
 
 
 
 
 
 
 
 
Pacer Cash COWZ
100-Nasdaq 100 Rotator ETF
 
 
Pacer Developed Markets Cash
Cows Growth Leaders ETF
 
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Period Ended
October 31,
2025(a)
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Year Ended
October 31,
2025
OPERATIONS:
 
 
 
 
 
 
 
 
Net investment income (loss)
 
 
$149,347
 
 
$6,210
 
 
$19,595
 
 
$18,067
Net realized gain (loss)
 
 
1,340,610
 
 
733,347
 
 
213,329
 
 
62,282
Net change in unrealized appreciation (depreciation)
 
 
(540,765)
 
 
632,130
 
 
108,110
 
 
221,013
Net increase (decrease) in net assets from operations
 
 
949,192
 
 
1,371,687
 
 
341,034
 
 
301,362
DISTRIBUTIONS TO SHAREHOLDERS:
 
 
 
 
 
 
 
 
From earnings
 
 
(79,820)
 
 
(4,593)
 
 
(31,958)
 
 
(12,632)
Total distributions to shareholders
 
 
(79,820)
 
 
(4,593)
 
 
(31,958)
 
 
(12,632)
CAPITAL TRANSACTIONS:
 
 
 
 
 
 
 
 
Shares sold
 
 
50,222,985
 
 
15,529,903
 
 
584,325
 
 
2,644,745
Shares redeemed
 
 
(30,090,630)
 
 
(7,180,498)
 
 
(1,202,265)
 
 
(563,728)
ETF transaction fees (See Note 1)
 
 
—
 
 
—
 
 
—
 
 
128
Net increase (decrease) in net assets from capital transactions
 
 
20,132,355
 
 
8,349,405
 
 
(617,940)
 
 
2,081,145
Net increase (decrease) in net assets
 
 
21,001,727
 
 
9,716,499
 
 
(308,864)
 
 
2,369,875
NET ASSETS:
 
 
 
 
 
 
 
 
Beginning of the period
 
 
9,716,499
 
 
—
 
 
2,858,671
 
 
488,796
End of the period
 
 
$30,718,226
 
 
$9,716,499
 
 
$2,549,807
 
 
$ 2,858,671
SHARES TRANSACTIONS
 
 
 
 
 
 
 
 
Shares sold
 
 
1,925,000
 
 
675,000
 
 
25,000
 
 
125,000
Shares redeemed
 
 
(1,150,000)
 
 
(300,000)
 
 
(50,000)
 
 
(25,000)
Total increase (decrease) in shares outstanding
 
 
775,000
 
 
375,000
 
 
(25,000)
 
 
100,000
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Inception date of the Fund was May 6, 2025.
The accompanying notes are an integral part of these financial statements.
 
75
 

TABLE OF CONTENTS

Pacer Funds
Statements of Changes in Net Assets(Continued)
 
 
 
 
 
 
 
 
 
 
Pacer Metaurus Nasdaq 100
Dividend Multiplier 600 ETF
 
 
Pacer Metaurus US Large Cap
Dividend Multiplier 400 ETF
 
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Year Ended
October 31,
2025
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Year Ended
October 31,
2025
OPERATIONS:
 
 
 
 
 
 
 
 
Net investment income (loss)
 
 
$18,890
 
 
$31,541
 
 
$6,027,139
 
 
$8,973,175
Net realized gain (loss)
 
 
311,377
 
 
12,967
 
 
35,188,451
 
 
22,168,220
Net change in unrealized appreciation (depreciation)
 
 
677,023
 
 
1,963,045
 
 
41,573,439
 
 
147,370,714
Net increase (decrease) in net assets from operations
 
 
1,007,290
 
 
2,007,553
 
 
82,789,029
 
 
178,512,109
DISTRIBUTIONS TO SHAREHOLDERS:
 
 
 
 
 
 
 
 
From earnings
 
 
(304,240)
 
 
(98,563)
 
 
(35,211,867)
 
 
(16,400,178)
From return of capital
 
 
—
 
 
(253,062)
 
 
—
 
 
(37,414,401)
Total distributions to shareholders
 
 
(304,240)
 
 
(351,625)
 
 
(35,211,867)
 
 
(53,814,579)
CAPITAL TRANSACTIONS:
 
 
 
 
 
 
 
 
Shares sold
 
 
5,631,340
 
 
5,474,385
 
 
290,876,256
 
 
681,731,298
Shares redeemed
 
 
(1,888,410)
 
 
—
 
 
(104,983,263)
 
 
(72,970,068)
Net increase (decrease) in net assets from capital transactions
 
 
3,742,930
 
 
5,474,385
 
 
185,892,993
 
 
608,761,230
Net increase (decrease) in net assets
 
 
4,445,980
 
 
7,130,313
 
 
233,470,155
 
 
733,458,760
NET ASSETS:
 
 
 
 
 
 
 
 
Beginning of the period
 
 
13,522,435
 
 
6,392,122
 
 
1,327,564,937
 
 
594,106,177
End of the period
 
 
$ 17,968,415
 
 
$ 13,522,435
 
 
$ 1,561,035,092
 
 
$ 1,327,564,937
SHARES TRANSACTIONS
 
 
 
 
 
 
 
 
Shares sold
 
 
150,000
 
 
150,000
 
 
6,870,000
 
 
17,310,000
Shares redeemed
 
 
(50,000)
 
 
—
 
 
(2,490,000)
 
 
(1,920,000)
Total increase (decrease) in shares outstanding
 
 
100,000
 
 
150,000
 
 
4,380,000
 
 
15,390,000
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
76
 

TABLE OF CONTENTS

Pacer Funds
Statements of Changes in Net Assets(Continued)
 
 
 
 
 
 
 
 
 
 
Pacer PE/VC ETF
 
 
Pacer S&P 500 Quality
FCF Aristocrats ETF
 
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Period Ended
October 31,
2025(a)
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Period Ended
October 31,
2025(b)
OPERATIONS:
 
 
 
 
 
 
 
 
Net investment income (loss)
 
 
$7,818
 
 
$6,118
 
 
$65,715
 
 
$42,252
Net realized gain (loss)
 
 
(1,857)
 
 
100,979
 
 
524,083
 
 
351,910
Net change in unrealized appreciation (depreciation)
 
 
(27,203)
 
 
266,080
 
 
74,260
 
 
1,119,906
Net increase (decrease) in net assets from operations
 
 
(21,242)
 
 
373,177
 
 
664,058
 
 
1,514,068
DISTRIBUTIONS TO SHAREHOLDERS:
 
 
 
 
 
 
 
 
From earnings
 
 
(147,690)
 
 
(4,999)
 
 
(61,906)
 
 
(21,117)
Total distributions to shareholders
 
 
(147,690)
 
 
(4,999)
 
 
(61,906)
 
 
(21,117)
CAPITAL TRANSACTIONS:
 
 
 
 
 
 
 
 
Shares sold
 
 
—
 
 
3,154,656
 
 
7,678,672
 
 
17,321,163
Shares redeemed
 
 
(1,054,152)
 
 
—
 
 
(2,364,110)
 
 
(1,745,453)
Net increase (decrease) in net assets from capital transactions
 
 
(1,054,152)
 
 
3,154,656
 
 
5,314,562
 
 
15,575,710
Net increase (decrease) in net assets
 
 
(1,223,084)
 
 
3,522,834
 
 
5,916,714
 
 
17,068,661
NET ASSETS:
 
 
 
 
 
 
 
 
Beginning of the period
 
 
3,522,834
 
 
—
 
 
17,068,661
 
 
—
End of the period
 
 
$2,299,750
 
 
$ 3,522,834
 
 
$ 22,985,375
 
 
$ 17,068,661
SHARES TRANSACTIONS
 
 
 
 
 
 
 
 
Shares sold
 
 
—
 
 
120,000
 
 
325,000
 
 
800,000
Shares redeemed
 
 
(40,000)
 
 
—
 
 
(100,000)
 
 
(75,000)
Total increase (decrease) in shares outstanding
 
 
(40,000)
 
 
120,000
 
 
225,000
 
 
725,000
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Inception date of the Fund was February 3, 2025.
(b)
Inception date of the Fund was May 6, 2025.
The accompanying notes are an integral part of these financial statements.
 
77
 

TABLE OF CONTENTS

Pacer Funds
Statements of Changes in Net Assets(Continued)
 
 
 
 
 
 
 
 
 
 
 
 
 
Pacer
S&P 500 Quality
FCF High
Dividend ETF
 
 
Pacer
S&P 500 Quality
FCF R&D
Leaders ETF
 
 
Pacer S&P MidCap 400 Quality
FCF Aristocrats ETF
 
 
 
Period Ended
April 30, 2026(a)
(Unaudited)
 
 
Period Ended
April 30, 2026(a)
(Unaudited)
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Period Ended
October 31,
2025(b)
OPERATIONS:
 
 
 
 
 
 
 
 
Net investment income (loss)
 
 
$7,456
 
 
$877
 
 
$1,450
 
 
$495
Net realized gain (loss)
 
 
42,763
 
 
47,776
 
 
35,998
 
 
(2,337)
Net change in unrealized appreciation (depreciation)
 
 
2,138
 
 
(28,652)
 
 
(50,276)
 
 
2,838
Net increase (decrease) in net assets from operations
 
 
52,357
 
 
20,001
 
 
(12,828)
 
 
996
DISTRIBUTIONS TO SHAREHOLDERS:
 
 
 
 
 
 
 
 
From earnings
 
 
(4,428)
 
 
(321)
 
 
(1,402)
 
 
—
Total distributions to shareholders
 
 
(4,428)
 
 
(321)
 
 
(1,402)
 
 
—
CAPITAL TRANSACTIONS:
 
 
 
 
 
 
 
 
Shares sold
 
 
1,523,784
 
 
1,485,220
 
 
483,133
 
 
1,009,000
Shares redeemed
 
 
(1,040,408)
 
 
(493,990)
 
 
(493,978)
 
 
—
Net increase (decrease) in net assets from capital transactions
 
 
483,376
 
 
991,230
 
 
(10,845)
 
 
1,009,000
Net increase (decrease) in net assets
 
 
531,305
 
 
1,010,910
 
 
(25,075)
 
 
1,009,996
NET ASSETS:
 
 
 
 
 
 
 
 
Beginning of the period
 
 
—
 
 
—
 
 
1,009,996
 
 
—
End of the period
 
 
$531,305
 
 
$ 1,010,910
 
 
$984,921
 
 
$ 1,009,996
SHARES TRANSACTIONS
 
 
 
 
 
 
 
 
Shares sold
 
 
60,000
 
 
60,000
 
 
25,000
 
 
50,000
Shares redeemed
 
 
(40,000)
 
 
(20,000)
 
 
(25,000)
 
 
—
Total increase (decrease) in shares outstanding
 
 
20,000
 
 
40,000
 
 
—
 
 
50,000
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Inception date of the Fund was January 12, 2026.
(b)
Inception date of the Fund was August 27, 2025.
The accompanying notes are an integral part of these financial statements.
 
78
 

TABLE OF CONTENTS

Pacer Funds
Statements of Changes in Net Assets(Continued)
 
 
 
 
 
 
 
 
 
 
Pacer S&P SmallCap 600
Quality FCF Aristocrats ETF
 
 
Pacer Solactive Whitney
Future of Warfare ETF
 
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Period Ended
October 31,
2025(a)
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Period Ended
October 31,
2025(b)
OPERATIONS:
 
 
 
 
 
 
 
 
Net investment income (loss)
 
 
$3,164
 
 
$443
 
 
$50,564
 
 
$15,147
Net realized gain (loss)
 
 
(38,821)
 
 
24,365
 
 
243,736
 
 
125,147
Net change in unrealized appreciation (depreciation)
 
 
94,866
 
 
(46,284)
 
 
(31,342)
 
 
340,025
Net increase (decrease) in net assets from operations
 
 
59,209
 
 
(21,476)
 
 
262,958
 
 
480,319
DISTRIBUTIONS TO SHAREHOLDERS:
 
 
 
 
 
 
 
 
From earnings
 
 
(3,432)
 
 
—
 
 
(27,026)
 
 
(12,515)
Total distributions to shareholders
 
 
(3,432)
 
 
—
 
 
(27,026)
 
 
(12,515)
CAPITAL TRANSACTIONS:
 
 
 
 
 
 
 
 
Shares sold
 
 
1,009,650
 
 
1,513,465
 
 
9,117,500
 
 
7,112,573
Shares redeemed
 
 
(507,002)
 
 
(507,028)
 
 
(835,785)
 
 
(1,293,035)
Net increase (decrease) in net assets from capital transactions
 
 
502,648
 
 
1,006,437
 
 
8,281,715
 
 
5,819,538
Net increase (decrease) in net assets
 
 
558,425
 
 
984,961
 
 
8,517,647
 
 
6,287,342
NET ASSETS:
 
 
 
 
 
 
 
 
Beginning of the period
 
 
984,961
 
 
—
 
 
6,287,342
 
 
—
End of the period
 
 
$ 1,543,386
 
 
$984,961
 
 
$ 14,804,989
 
 
$6,287,342
SHARES TRANSACTIONS
 
 
 
 
 
 
 
 
Shares sold
 
 
50,000
 
 
75,000
 
 
275,000
 
 
250,000
Shares redeemed
 
 
(25,000)
 
 
(25,000)
 
 
(25,000)
 
 
(50,000)
Total increase (decrease) in shares outstanding
 
 
25,000
 
 
50,000
 
 
250,000
 
 
200,000
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Inception date of the Fund was August 27, 2025.
(b)
Inception date of the Fund was December 17, 2024.
The accompanying notes are an integral part of these financial statements.
 
79
 

TABLE OF CONTENTS

Pacer Funds
Statements of Changes in Net Assets(Continued)
 
 
 
 
 
 
 
 
 
 
Pacer Swan SOS
Conservative April ETF
 
 
Pacer Swan SOS
Conservative January ETF
 
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Year Ended
October 31,
2025
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Year Ended
October 31,
2025
OPERATIONS:
 
 
 
 
 
 
 
 
Net investment income (loss)
 
 
$(190,291)
 
 
$(335,418)
 
 
$(115,636)
 
 
$(161,345)
Net realized gain (loss)
 
 
8,931,564
 
 
2,274,403
 
 
3,669,066
 
 
2,551,090
Net change in unrealized appreciation (depreciation)
 
 
(4,443,904)
 
 
3,517,399
 
 
(1,540,104)
 
 
821,998
Net increase (decrease) in net assets from operations
 
 
4,297,369
 
 
5,456,384
 
 
2,013,326
 
 
3,211,743
CAPITAL TRANSACTIONS:
 
 
 
 
 
 
 
 
Shares sold
 
 
58,727,480
 
 
80,039,048
 
 
44,837,832
 
 
32,652,635
Shares redeemed
 
 
(79,530,745)
 
 
(46,172,860)
 
 
(32,399,980)
 
 
(23,630,292)
ETF transaction fees (See Note 1)
 
 
2,096
 
 
5,328
 
 
1,548
 
 
1,751
Net increase (decrease) in net assets from capital transactions
 
 
(20,801,169)
 
 
33,871,516
 
 
12,439,400
 
 
9,024,094
Net increase (decrease) in net assets
 
 
(16,503,800)
 
 
39,327,900
 
 
14,452,726
 
 
12,235,837
NET ASSETS:
 
 
 
 
 
 
 
 
Beginning of the period
 
 
77,097,334
 
 
37,769,434
 
 
31,968,691
 
 
19,732,854
End of the period
 
 
$60,593,534
 
 
$77,097,334
 
 
$46,421,417
 
 
$31,968,691
SHARES TRANSACTIONS
 
 
 
 
 
 
 
 
Shares sold
 
 
2,075,000
 
 
3,150,000
 
 
1,450,000
 
 
1,175,000
Shares redeemed
 
 
(2,825,000)
 
 
(1,825,000)
 
 
(1,050,000)
 
 
(850,000)
Total increase (decrease) in shares outstanding
 
 
(750,000)
 
 
1,325,000
 
 
400,000
 
 
325,000
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
80
 

TABLE OF CONTENTS

Pacer Funds
Statements of Changes in Net Assets(Continued)
 
 
 
 
 
 
 
 
 
 
Pacer Swan SOS
Conservative July ETF
 
 
Pacer Swan SOS
Conservative October ETF
 
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Year Ended
October 31,
2025
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Year Ended
October 31,
2025
OPERATIONS:
 
 
 
 
 
 
 
 
Net investment income (loss)
 
 
$(119,127)
 
 
$(228,968)
 
 
$(138,930)
 
 
$(214,852)
Net realized gain (loss)
 
 
12
 
 
5,254,450
 
 
(36,366)
 
 
3,860,466
Net change in unrealized appreciation (depreciation)
 
 
1,968,874
 
 
634,754
 
 
2,120,008
 
 
450,089
Net increase (decrease) in net assets from operations
 
 
1,849,759
 
 
5,660,236
 
 
1,944,712
 
 
4,095,703
CAPITAL TRANSACTIONS:
 
 
 
 
 
 
 
 
Shares sold
 
 
​—
 
 
53,603,823
 
 
6,582,287
 
 
68,373,800
Shares redeemed
 
 
(3,716,071)
 
 
(53,407,585)
 
 
(3,677,248)
 
 
(44,997,817)
ETF transaction fees (See Note 1)
 
 
371
 
 
3,395
 
 
1,026
 
 
3,556
Net increase (decrease) in net assets from capital transactions
 
 
(3,715,700)
 
 
199,633
 
 
2,906,065
 
 
23,379,539
Net increase (decrease) in net assets
 
 
(1,865,941)
 
 
5,859,869
 
 
4,850,777
 
 
27,475,242
NET ASSETS:
 
 
 
 
 
 
 
 
Beginning of the period
 
 
43,096,701
 
 
37,236,832
 
 
42,433,174
 
 
14,957,932
End of the period
 
 
$ 41,230,760
 
 
$43,096,701
 
 
$ 47,283,951
 
 
$42,433,174
SHARES TRANSACTIONS
 
 
 
 
 
 
 
 
Shares sold
 
 
—
 
 
1,975,000
 
 
225,000
 
 
2,450,000
Shares redeemed
 
 
(125,000)
 
 
(1,950,000)
 
 
(125,000)
 
 
(1,575,000)
Total increase (decrease) in shares outstanding
 
 
(125,000)
 
 
25,000
 
 
100,000
 
 
875,000
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
81
 

TABLE OF CONTENTS

Pacer Funds
Statements of Changes in Net Assets(Continued)
 
 
 
 
 
 
 
 
 
 
Pacer Swan SOS
Flex April ETF
 
 
Pacer Swan SOS
Flex January ETF
 
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Year Ended
October 31,
2025
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Year Ended
October 31,
2025
OPERATIONS:
 
 
 
 
 
 
 
 
Net investment income (loss)
 
 
$(61,768)
 
 
$(134,674)
 
 
$(151,067)
 
 
$(286,557)
Net realized gain (loss)
 
 
2,685,620
 
 
1,509,014
 
 
6,047,619
 
 
6,669,937
Net change in unrealized appreciation (depreciation)
 
 
(848,567)
 
 
131,419
 
 
(2,791,454)
 
 
(256,925)
Net increase (decrease) in net assets from operations
 
 
1,775,285
 
 
1,505,759
 
 
3,105,098
 
 
6,126,455
CAPITAL TRANSACTIONS:
 
 
 
 
 
 
 
 
Shares sold
 
 
20,979,855
 
 
23,651,437
 
 
58,699,972
 
 
52,043,348
Shares redeemed
 
 
(22,500,445)
 
 
(27,843,988)
 
 
(52,076,692)
 
 
(56,654,928)
ETF transaction fees (See Note 1)
 
 
159
 
 
584
 
 
1,409
 
 
1,275
Net increase (decrease) in net assets from capital transactions
 
 
(1,520,431)
 
 
(4,191,967)
 
 
6,624,689
 
 
(4,610,305)
Net increase (decrease) in net assets
 
 
254,854
 
 
(2,686,208)
 
 
9,729,787
 
 
1,516,150
NET ASSETS:
 
 
 
 
 
 
 
 
Beginning of the period
 
 
21,958,810
 
 
24,645,018
 
 
48,583,134
 
 
47,066,984
End of the period
 
 
$22,213,664
 
 
$21,958,810
 
 
$58,312,921
 
 
$48,583,134
SHARES TRANSACTIONS
 
 
 
 
 
 
 
 
Shares sold
 
 
650,000
 
 
825,000
 
 
1,575,000
 
 
1,575,000
Shares redeemed
 
 
(700,000)
 
 
(975,000)
 
 
(1,400,000)
 
 
(1,700,000)
Total increase (decrease) in shares outstanding
 
 
(50,000)
 
 
(150,000)
 
 
175,000
 
 
(125,000)
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
82
 

TABLE OF CONTENTS

Pacer Funds
Statements of Changes in Net Assets(Continued)
 
 
 
 
 
 
 
 
 
 
Pacer Swan SOS
Flex July ETF
 
 
Pacer Swan SOS
Flex October ETF
 
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Year Ended
October 31,
2025
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Year Ended
October 31,
2025
OPERATIONS:
 
 
 
 
 
 
 
 
Net investment income (loss)
 
 
$(105,094)
 
 
$(166,395)
 
 
$(120,447)
 
 
$(90,919)
Net realized gain (loss)
 
 
(54,264)
 
 
2,877,278
 
 
(111,126)
 
 
1,852,394
Net change in unrealized appreciation (depreciation)
 
 
1,910,805
 
 
976,659
 
 
2,427,113
 
 
331,276
Net increase (decrease) in net assets from operations
 
 
1,751,447
 
 
3,687,542
 
 
2,195,540
 
 
2,092,751
CAPITAL TRANSACTIONS:
 
 
 
 
 
 
 
 
Shares sold
 
 
1,645,692
 
 
39,214,478
 
 
20,855,122
 
 
30,675,290
Shares redeemed
 
 
(8,238,295)
 
 
(30,705,367)
 
 
(4,034,213)
 
 
(21,824,595)
ETF transaction fees (See Note 1)
 
 
988
 
 
2,319
 
 
2,489
 
 
2,260
Net increase (decrease) in net assets from capital transactions
 
 
(6,591,615)
 
 
8,511,430
 
 
16,823,398
 
 
8,852,955
Net increase (decrease) in net assets
 
 
(4,840,168)
 
 
12,198,972
 
 
19,018,938
 
 
10,945,706
NET ASSETS:
 
 
 
 
 
 
 
 
Beginning of the period
 
 
39,311,880
 
 
27,112,908
 
 
25,684,004
 
 
14,738,298
End of the period
 
 
$ 34,471,712
 
 
$39,311,880
 
 
$ 44,702,942
 
 
$25,684,004
SHARES TRANSACTIONS
 
 
 
 
 
 
 
 
Shares sold
 
 
50,000
 
 
1,275,000
 
 
650,000
 
 
975,000
Shares redeemed
 
 
(250,000)
 
 
(1,025,000)
 
 
(125,000)
 
 
(700,000)
Total increase (decrease) in shares outstanding
 
 
(200,000)
 
 
250,000
 
 
525,000
 
 
275,000
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
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Pacer Funds
Statements of Changes in Net Assets(Continued)
 
 
 
 
 
 
 
 
 
 
Pacer Swan SOS
Fund of Funds ETF
 
 
Pacer Swan SOS
Moderate April ETF
 
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Year Ended
October 31,
2025
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Year Ended
October 31,
2025
OPERATIONS:
 
 
 
 
 
 
 
 
Net investment income (loss)
 
 
$(282,664)
 
 
$(438,322)
 
 
$(245,181)
 
 
$(462,453)
Net realized gain (loss)
 
 
12,951,259
 
 
15,964,330
 
 
10,796,211
 
 
4,532,311
Net change in unrealized appreciation (depreciation)
 
 
16,413,716
 
 
32,600,478
 
 
(4,264,623)
 
 
2,057,273
Net increase (decrease) in net assets from operations
 
 
29,082,311
 
 
48,126,486
 
 
6,286,407
 
 
6,127,131
CAPITAL TRANSACTIONS:
 
 
 
 
 
 
 
 
Shares sold
 
 
69,814,795
 
 
168,524,145
 
 
83,727,113
 
 
98,712,790
Shares redeemed
 
 
(52,304,643)
 
 
(74,009,960)
 
 
(91,259,122)
 
 
(88,391,583)
ETF transaction fees (See Note 1)
 
 
203,332
 
 
309,584
 
 
890
 
 
5,604
Net increase (decrease) in net assets from capital transactions
 
 
17,713,484
 
 
94,823,769
 
 
(7,531,119)
 
 
10,326,811
Net increase (decrease) in net assets
 
 
46,795,795
 
 
142,950,255
 
 
(1,244,712)
 
 
16,453,942
NET ASSETS:
 
 
 
 
 
 
 
 
Beginning of the period
 
 
520,691,152
 
 
377,740,897
 
 
87,526,490
 
 
71,072,548
End of the period
 
 
$ 567,486,947
 
 
$ 520,691,152
 
 
$86,281,778
 
 
$87,526,490
SHARES TRANSACTIONS
 
 
 
 
 
 
 
 
Shares sold
 
 
2,175,000
 
 
5,675,000
 
 
2,775,000
 
 
3,625,000
Shares redeemed
 
 
(1,625,000)
 
 
(2,525,000)
 
 
(3,025,000)
 
 
(3,250,000)
Total increase (decrease) in shares outstanding
 
 
550,000
 
 
3,150,000
 
 
(250,000)
 
 
375,000
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
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Pacer Funds
Statements of Changes in Net Assets(Continued)
 
 
 
 
 
 
 
 
 
 
Pacer Swan SOS
Moderate January ETF
 
 
Pacer Swan SOS
Moderate July ETF
 
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Year Ended
October 31,
2025
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Year Ended
October 31,
2025
OPERATIONS:
 
 
 
 
 
 
 
 
Net investment income (loss)
 
 
$(244,624)
 
 
$(475,515)
 
 
$(255,802)
 
 
$(463,353)
Net realized gain (loss)
 
 
9,092,668
 
 
9,511,742
 
 
(28,906)
 
 
9,885,064
Net change in unrealized appreciation (depreciation)
 
 
(4,510,943)
 
 
(347,486)
 
 
4,270,227
 
 
955,117
Net increase (decrease) in net assets from operations
 
 
4,337,101
 
 
8,688,741
 
 
3,985,519
 
 
10,376,828
CAPITAL TRANSACTIONS:
 
 
 
 
 
 
 
 
Shares sold
 
 
92,378,530
 
 
101,442,220
 
 
801,460
 
 
89,667,933
Shares redeemed
 
 
(84,136,412)
 
 
(97,535,483)
 
 
(8,795,183)
 
 
(86,586,087)
ETF transaction fees (See Note 1)
 
 
1,949
 
 
4,452
 
 
959
 
 
2,908
Net increase (decrease) in net assets from capital transactions
 
 
8,244,067
 
 
3,911,189
 
 
(7,992,764)
 
 
3,084,754
Net increase (decrease) in net assets
 
 
12,581,168
 
 
12,599,930
 
 
(4,007,245)
 
 
13,461,582
NET ASSETS:
 
 
 
 
 
 
 
 
Beginning of the period
 
 
80,701,912
 
 
68,101,982
 
 
92,141,282
 
 
78,679,700
End of the period
 
 
$93,283,080
 
 
$80,701,912
 
 
$ 88,134,037
 
 
$92,141,282
SHARES TRANSACTIONS
 
 
 
 
 
 
 
 
Shares sold
 
 
2,850,000
 
 
3,475,000
 
 
25,000
 
 
3,025,000
Shares redeemed
 
 
(2,600,000)
 
 
(3,325,000)
 
 
(275,000)
 
 
(2,950,000)
Total increase (decrease) in shares outstanding
 
 
250,000
 
 
150,000
 
 
(250,000)
 
 
75,000
 
 
 
 
 
 
 
 
 
 
 
 
 
The accompanying notes are an integral part of these financial statements.
 
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Pacer Funds
Statements of Changes in Net Assets(Continued)
 
 
 
 
 
 
 
 
 
 
Pacer Swan SOS
Moderate October ETF
 
 
Pacer US Cash
Cows Bond ETF
 
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Year Ended
October 31,
2025
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Period Ended
October 31,
2025(a)
OPERATIONS:
 
 
 
 
 
 
 
 
Net investment income (loss)
 
 
$(282,265)
 
 
$(493,748)
 
 
$290,514
 
 
$198,435
Net realized gain (loss)
 
 
(190,530)
 
 
9,339,250
 
 
8,713
 
 
108,495
Net change in unrealized appreciation (depreciation)
 
 
4,758,545
 
 
823,907
 
 
(228,211)
 
 
35,654
Net increase (decrease) in net assets from operations
 
 
4,285,750
 
 
9,669,409
 
 
71,016
 
 
342,584
DISTRIBUTIONS TO SHAREHOLDERS:
 
 
 
 
 
 
 
 
From earnings
 
 
—
 
 
—
 
 
(411,487)
 
 
(189,412)
Total distributions to shareholders
 
 
—
 
 
—
 
 
(411,487)
 
 
(189,412)
CAPITAL TRANSACTIONS:
 
 
 
 
 
 
 
 
Shares sold
 
 
25,146,645
 
 
130,942,742
 
 
9,896,480
 
 
6,881,148
Shares redeemed
 
 
(8,382,425)
 
 
(128,689,655)
 
 
—
 
 
—
ETF transaction fees (See Note 1)
 
 
3,353
 
 
12,029
 
 
—
 
 
—
Net increase (decrease) in net assets from capital transactions
 
 
16,767,573
 
 
2,265,116
 
 
9,896,480
 
 
6,881,148
Net increase (decrease) in net assets
 
 
21,053,323
 
 
11,934,525
 
 
9,556,009
 
 
7,034,320
NET ASSETS:
 
 
 
 
 
 
 
 
Beginning of the period
 
 
77,583,633
 
 
65,649,108
 
 
7,034,320
 
 
—
End of the period
 
 
$ 98,636,956
 
 
$77,583,633
 
 
$ 16,590,329
 
 
$ 7,034,320
SHARES TRANSACTIONS
 
 
 
 
 
 
 
 
Shares sold
 
 
825,000
 
 
4,525,000
 
 
400,000
 
 
280,000
Shares redeemed
 
 
(275,000)
 
 
(4,400,000)
 
 
—
 
 
—
Total increase (decrease) in shares outstanding
 
 
550,000
 
 
125,000
 
 
400,000
 
 
280,000
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Inception date of the Fund was December 17, 2024.
The accompanying notes are an integral part of these financial statements.
 
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Pacer ActiveAlpha India Quality ETF
Financial Highlights
 
 
 
 
 
 
 
Period Ended
April 30, 2026(a)
(Unaudited)
PER SHARE DATA:
 
 
Net asset value, beginning of period
 
 
$25.00
INVESTMENT OPERATIONS:
 
 
Net investment loss(b)
 
 
(0.02)
Net realized and unrealized gain (loss) on investments(c)
 
 
1.39
Total from investment operations
 
 
1.37
ETF transaction fees per share
 
 
0.04
Net asset value, end of period
 
 
$26.41
Total return(d)
 
 
5.63%
SUPPLEMENTAL DATA AND RATIOS:
 
 
Net assets, end of period (in thousands)
 
 
$1,056
Ratio of expenses to average net assets(e)
 
 
0.85%
Ratio of net investment income (loss) to average net assets(e)
 
 
(0.84)%
Portfolio turnover rate(d)(f)
 
 
—%
 
 
 
 
(a)
Inception date of the Fund was March 31, 2026.
(b)
Net investment income per share has been calculated based on average shares outstanding during the period.
(c)
Realized and unrealized gains and losses per share in the caption are balancing amounts necessary to reconcile the change in net asset value per share for the periods and may not reconcile with the aggregate gains and losses in the Statement of Operations due to share transactions for the periods.
(d)
Not annualized for periods less than one year.
(e)
Annualized for periods less than one year.
(f)
Portfolio turnover rate excludes in-kind transactions.
The accompanying notes are an integral part of these financial statements.
 
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Pacer American Energy Infrastructure ETF(g)
Financial Highlights
 
 
 
 
 
 
 
 
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Year Ended October 31,
 
2025
 
 
2024
 
 
2023
 
 
2022
 
 
2021
PER SHARE DATA:
 
 
 
 
 
 
 
 
 
 
 
 
Net asset value, beginning of period
 
 
$37.00
 
 
$36.52
 
 
$27.12
 
 
$27.87
 
 
$25.31
 
 
$14.96
INVESTMENT OPERATIONS:
 
 
 
 
 
 
 
 
 
 
 
 
Net investment income(a)
 
 
0.31
 
 
0.69
 
 
0.72
 
 
0.63
 
 
0.41
 
 
0.40
Net realized and unrealized gain (loss) on investments(b)
 
 
11.07
 
 
1.63
 
 
10.12
 
 
0.06
 
 
3.59
 
 
11.39
Total from investment operations
 
 
11.38
 
 
2.32
 
 
10.84
 
 
0.69
 
 
4.00
 
 
11.79
LESS DISTRIBUTIONS FROM:
 
 
 
 
 
 
 
 
 
 
 
 
Net investment income
 
 
(0.96)
 
 
(0.47)
 
 
(0.82)
 
 
(0.33)
 
 
(0.26)
 
 
(0.50)
Return of capital
 
 
—
 
 
(1.37)
 
 
(0.62)
 
 
(1.11)
 
 
(1.18)
 
 
(0.94)
Total distributions
 
 
(0.96)
 
 
(1.84)
 
 
(1.44)
 
 
(1.44)
 
 
(1.44)
 
 
(1.44)
ETF transaction fees per share
 
 
—
 
 
—
 
 
0.00(c)
 
 
—
 
 
—
 
 
—
Net asset value, end of period
 
 
$47.42
 
 
$37.00
 
 
$36.52
 
 
$27.12
 
 
$27.87
 
 
$25.31
Total return(d)
 
 
31.11%
 
 
6.10%
 
 
40.90%
 
 
2.68%
 
 
16.26%
 
 
80.71%
SUPPLEMENTAL DATA AND RATIOS:
 
 
 
 
 
 
 
 
 
 
 
 
Net assets, end of period (in thousands)
 
 
$109,057
 
 
$79,556
 
 
$63,906
 
 
$43,388
 
 
$47,377
 
 
$25,309
Ratio of expenses to average net assets(e)
 
 
0.75%
 
 
0.75%
 
 
0.75%
 
 
0.75%
 
 
0.75%
 
 
0.75%
Ratio of net investment income (loss) to average net assets(e)
 
 
1.48%
 
 
1.73%
 
 
2.27%
 
 
2.32%
 
 
1.53%
 
 
1.82%
Portfolio turnover rate(d)(f)
 
 
31%
 
 
24%
 
 
22%
 
 
27%
 
 
25%
 
 
22%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Net investment income per share has been calculated based on average shares outstanding during the periods.
(b)
Realized and unrealized gains and losses per share in the caption are balancing amounts necessary to reconcile the change in net asset value per share for the periods and may not reconcile with the aggregate gains and losses in the Statement of Operations due to share transactions for the periods.
(c)
Amount represents less than $0.005 per share.
(d)
Not annualized for periods less than one year.
(e)
Annualized for periods less than one year.
(f)
Portfolio turnover rate excludes in-kind transactions.
(g)
Effective 2/28/2026, the Fund changed its name from Pacer American Energy Independence ETF to Pacer American Energy Infrastructure ETF.
The accompanying notes are an integral part of these financial statements.
 
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Pacer BlueStar Digital Entertainment ETF
Financial Highlights
 
 
 
 
 
 
 
 
 
 
 
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Year Ended October 31,
 
 
Period Ended
October 31,
2022(a)
 
2025
 
 
2024
 
 
2023
 
PER SHARE DATA:
 
 
 
 
 
 
 
 
 
 
Net asset value, beginning of period
 
 
$30.69
 
 
$23.99
 
 
$17.41
 
 
$15.44
 
 
$19.74
INVESTMENT OPERATIONS:
 
 
 
 
 
 
 
 
 
 
Net investment income(b)
 
 
0.03
 
 
0.56
 
 
0.09
 
 
0.15
 
 
0.05
Net realized and unrealized gain (loss) on investments(c)
 
 
(6.12)
 
 
6.89
 
 
6.58
 
 
1.99
 
 
(4.32)
Total from investment operations
 
 
(6.09)
 
 
7.45
 
 
6.67
 
 
2.14
 
 
(4.27)
LESS DISTRIBUTIONS FROM:
 
 
 
 
 
 
 
 
 
 
Net investment income
 
 
(0.04)
 
 
(0.77)
 
 
(0.09)
 
 
(0.17)
 
 
(0.04)
Total distributions
 
 
(0.04)
 
 
(0.77)
 
 
(0.09)
 
 
(0.17)
 
 
(0.04)
ETF transaction fees per share
 
 
—
 
 
0.02
 
 
0.00(d)
 
 
—
 
 
0.01
Net asset value, end of period
 
 
$24.56
 
 
$30.69
 
 
$23.99
 
 
$17.41
 
 
$15.44
Total return(e)
 
 
−19.84%
 
 
31.37%
 
 
38.38%
 
 
13.74%
 
 
−21.58%
SUPPLEMENTAL DATA AND RATIOS:
 
 
 
 
 
 
 
 
 
 
Net assets, end of period (in thousands)
 
 
$3,930
 
 
$4,910
 
 
$960
 
 
$696
 
 
$618
Ratio of expenses to average net assets(f)(g)(i)
 
 
0.49%
 
 
0.54%
 
 
0.60%
 
 
0.60%
 
 
0.60%
Ratio of net investment income (loss) to average net assets(f)(g)
 
 
0.22%
 
 
1.83%
 
 
0.40%
 
 
0.78%
 
 
0.53%
Portfolio turnover rate(e)(h)
 
 
16%
 
 
47%
 
 
49%
 
 
40%
 
 
33%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Inception date of the Fund was April 7, 2022.
(b)
Net investment income per share has been calculated based on average shares outstanding during the periods.
(c)
Realized and unrealized gains and losses per share in the caption are balancing amounts necessary to reconcile the change in net asset value per share for the periods and may not reconcile with the aggregate gains and losses in the Statement of Operations due to share transactions for the periods.
(d)
Amount represents less than $0.005 per share.
(e)
Not annualized for periods less than one year.
(f)
Annualized for periods less than one year.
(g)
Ratios do not include the expenses of the underlying investment companies in which the Fund invests.
(h)
Portfolio turnover rate excludes in-kind transactions.
(i)
Effective August 1, 2025 the investment advisory fee changed from 0.60% to 0.49%.
The accompanying notes are an integral part of these financial statements.
 
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Pacer BlueStar Engineering the Future ETF
Financial Highlights
 
 
 
 
 
 
 
 
 
 
 
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Year Ended October 31,
 
 
Period Ended
October 31,
2022(a)
 
2025
 
 
2024
 
 
2023
 
PER SHARE DATA:
 
 
 
 
 
 
 
 
 
 
Net asset value, beginning of period
 
 
$27.67
 
 
$20.55
 
 
$17.67
 
 
$17.00
 
 
$20.52
INVESTMENT OPERATIONS:
 
 
 
 
 
 
 
 
 
 
Net investment income(b)
 
 
0.04
 
 
0.04
 
 
0.04
 
 
0.04
 
 
0.01
Net realized and unrealized gain (loss) on investments(c)
 
 
3.12
 
 
7.12
 
 
2.87
 
 
0.68
 
 
(3.53)
Total from investment operations
 
 
3.16
 
 
7.16
 
 
2.91
 
 
0.72
 
 
(3.52)
LESS DISTRIBUTIONS FROM:
 
 
 
 
 
 
 
 
 
 
Net investment income
 
 
(0.09)
 
 
(0.04)
 
 
(0.03)
 
 
(0.04)
 
 
—
Net realized gains
 
 
(0.21)
 
 
—
 
 
—
 
 
—
 
 
—
Return of capital
 
 
—
 
 
—
 
 
—
 
 
(0.01)
 
 
—
Total distributions
 
 
(0.30)
 
 
(0.04)
 
 
(0.03)
 
 
(0.05)
 
 
—
ETF transaction fees per share
 
 
0.00(d)
 
 
0.00(d)
 
 
—
 
 
—
 
 
—
Net asset value, end of period
 
 
$30.53
 
 
$27.67
 
 
$20.55
 
 
$17.67
 
 
$17.00
Total return(e)
 
 
11.61%
 
 
34.87%
 
 
16.48%
 
 
4.18%
 
 
−17.14%
SUPPLEMENTAL DATA AND RATIOS:
 
 
 
 
 
 
 
 
 
 
Net assets, end of period (in thousands)
 
 
$4,885
 
 
$1,660
 
 
$822
 
 
$1,414
 
 
$1,360
Ratio of expenses to average net assets(f)(h)
 
 
0.49%
 
 
0.56%
 
 
0.60%
 
 
0.60%
 
 
0.60%
Ratio of net investment income (loss) to average net assets(f)
 
 
0.26%
 
 
0.19%
 
 
0.17%
 
 
0.19%
 
 
0.07%
Portfolio turnover rate(e)(g)
 
 
13%
 
 
32%
 
 
19%
 
 
15%
 
 
—%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Inception date of the Fund was May 4, 2022.
(b)
Net investment income per share has been calculated based on average shares outstanding during the periods.
(c)
Realized and unrealized gains and losses per share in the caption are balancing amounts necessary to reconcile the change in net asset value per share for the periods and may not reconcile with the aggregate gains and losses in the Statement of Operations due to share transactions for the periods.
(d)
Amount represents less than $0.005 per share.
(e)
Not annualized for periods less than one year.
(f)
Annualized for periods less than one year.
(g)
Portfolio turnover rate excludes in-kind transactions.
(h)
Effective August 1, 2025 the investment advisory fee changed from 0.60% to 0.49%
The accompanying notes are an integral part of these financial statements.
 
90
 

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Pacer Cash COWZ 100-Nasdaq 100 Rotator ETF
Financial Highlights
 
 
 
 
 
 
 
 
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Period Ended
October 31,
2025(a)
PER SHARE DATA:
 
 
 
 
Net asset value, beginning of period
 
 
$25.91
 
 
$19.82
INVESTMENT OPERATIONS:
 
 
 
 
Net investment income(b)
 
 
0.19
 
 
0.02
Net realized and unrealized gain (loss) on investments(c)
 
 
0.69
 
 
6.08
Total from investment operations
 
 
0.88
 
 
6.10
LESS DISTRIBUTIONS FROM:
 
 
 
 
Net investment income
 
 
(0.08)
 
 
(0.01)
Total distributions
 
 
(0.08)
 
 
(0.01)
Net asset value, end of period
 
 
$26.71
 
 
$25.91
Total return(d)
 
 
3.40%
 
 
30.80%
SUPPLEMENTAL DATA AND RATIOS:
 
 
 
 
Net assets, end of period (in thousands)
 
 
$30,718
 
 
$9,716
Ratio of expenses to average net assets(e)
 
 
0.49%
 
 
0.49%
Ratio of net investment income (loss) to average net assets(e)
 
 
1.44%
 
 
0.19%
Portfolio turnover rate(d)(f)
 
 
225%
 
 
3%
 
 
 
 
 
 
 
(a)
Inception date of the Fund was May 6, 2025.
(b)
Net investment income per share has been calculated based on average shares outstanding during the period.
(c)
Realized and unrealized gains and losses per share in the caption are balancing amounts necessary to reconcile the change in net asset value per share for the periods and may not reconcile with the aggregate gains and losses in the Statement of Operations due to share transactions for the periods.
(d)
Not annualized for periods less than one year.
(e)
Annualized for periods less than one year.
(f)
Portfolio turnover rate excludes in-kind transactions.
The accompanying notes are an integral part of these financial statements.
 
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Pacer Developed Markets Cash Cows Growth Leaders ETF
Financial Highlights
 
 
 
 
 
 
 
 
 
 
 
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Year Ended
October 31,
2025
 
 
Period Ended
October 31,
2024(a)
PER SHARE DATA:
 
 
 
 
 
 
Net asset value, beginning of period
 
 
$22.87
 
 
$19.55
 
 
$20.10
INVESTMENT OPERATIONS:
 
 
 
 
 
 
Net investment income(b)
 
 
0.16
 
 
0.24
 
 
0.26
Net realized and unrealized gain (loss) on investments(c)
 
 
2.73
 
 
3.33
 
 
(0.62)
Total from investment operations
 
 
2.89
 
 
3.57
 
 
(0.36)
LESS DISTRIBUTIONS FROM:
 
 
 
 
 
 
Net investment income
 
 
(0.26)
 
 
(0.25)
 
 
(0.19)
Total distributions
 
 
(0.26)
 
 
(0.25)
 
 
(0.19)
ETF transaction fees per share
 
 
—
 
 
0.00(d)
 
 
—
Net asset value, end of period
 
 
$25.50
 
 
$22.87
 
 
$19.55
Total return(e)
 
 
12.70%
 
 
18.44%
 
 
−1.78%
SUPPLEMENTAL DATA AND RATIOS:
 
 
 
 
 
 
Net assets, end of period (in thousands)
 
 
$2,550
 
 
$2,859
 
 
$489
Ratio of expenses to average net assets(f)
 
 
0.65%
 
 
0.65%
 
 
0.65%
Ratio of net investment income (loss) to average net assets(f)
 
 
1.34%
 
 
1.13%
 
 
2.16%
Portfolio turnover rate(e)(g)
 
 
33%
 
 
104%
 
 
33%
 
 
 
 
 
 
 
 
 
 
(a)
Inception date of the Fund was March 20, 2024.
(b)
Net investment income per share has been calculated based on average shares outstanding during the periods.
(c)
Realized and unrealized gains and losses per share in the caption are balancing amounts necessary to reconcile the change in net asset value per share for the periods and may not reconcile with the aggregate gains and losses in the Statement of Operations due to share transactions for the periods.
(d)
Amount represents less than $0.005 per share.
(e)
Not annualized for periods less than one year.
(f)
Annualized for periods less than one year.
(g)
Portfolio turnover rate excludes in-kind transactions.
The accompanying notes are an integral part of these financial statements.
 
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TABLE OF CONTENTS

Pacer Metaurus Nasdaq 100 Dividend Multiplier 600 ETF
Financial Highlights
 
 
 
 
 
 
 
 
 
 
 
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Year Ended
October 31,
2025
 
 
Period Ended
October 31,
2024(a)
PER SHARE DATA:
 
 
 
 
 
 
Net asset value, beginning of period
 
 
$38.64
 
 
$31.96
 
 
$31.79
INVESTMENT OPERATIONS:
 
 
 
 
 
 
Net investment income(b)
 
 
0.05
 
 
0.14
 
 
(0.00)(c)
Net realized and unrealized gain (loss) on investments(d)
 
 
1.99
 
 
8.10
 
 
0.17
Total from investment operations
 
 
2.04
 
 
8.24
 
 
0.17
LESS DISTRIBUTIONS FROM:
 
 
 
 
 
 
Net investment income
 
 
(0.46)
 
 
(0.28)
 
 
—
Net realized gains
 
 
—
 
 
(0.16)
 
 
—
Return of capital
 
 
(0.29)
 
 
(1.12)
 
 
—
Total distributions
 
 
(0.75)
 
 
(1.56)
 
 
—
Net asset value, end of period
 
 
$39.93
 
 
$38.64
 
 
$31.96
Total return(e)
 
 
5.46%
 
 
26.61%
 
 
0.54%
SUPPLEMENTAL DATA AND RATIOS:
 
 
 
 
 
 
Net assets, end of period (in thousands)
 
 
$17,968
 
 
$13,522
 
 
$6,392
Ratio of expenses to average net assets(f)
 
 
0.60%
 
 
0.60%
 
 
0.60%
Ratio of net investment income (loss) to average net assets(f)
 
 
0.26%
 
 
0.42%
 
 
(0.06)%
Portfolio turnover rate(e)(g)
 
 
8%
 
 
4%
 
 
—%
 
 
 
 
 
 
 
 
 
 
(a)
Inception date of the Fund was September 23, 2024.
(b)
Net investment income per share has been calculated based on average shares outstanding during the periods.
(c)
Amount represents less than $0.005 per share.
(d)
Realized and unrealized gains and losses per share in the caption are balancing amounts necessary to reconcile the change in net asset value per share for the periods and may not reconcile with the aggregate gains and losses in the Statement of Operations due to share transactions for the periods.
(e)
Not annualized for periods less than one year.
(f)
Annualized for periods less than one year.
(g)
Portfolio turnover rate excludes in-kind transactions.
The accompanying notes are an integral part of these financial statements.
 
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TABLE OF CONTENTS

Pacer Metaurus US Large Cap Dividend Multiplier 400 ETF
Financial Highlights
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Year Ended
October 31,
 
 
Period Ended
October 31,
2023(g)
 
 
Year Ended
April 30,
2023
 
 
Period Ended
April 30,
2022(a)
 
2025
 
 
2024
 
PER SHARE DATA:
 
 
 
 
 
 
 
 
 
 
 
 
Net asset value, beginning of period
 
 
$42.63
 
 
$37.72
 
 
$29.77
 
 
$30.39
 
 
$31.64
 
 
$34.65
INVESTMENT OPERATIONS:
 
 
 
 
 
 
 
 
 
 
 
 
Net investment income(b)
 
 
0.18
 
 
0.38
 
 
0.42
 
 
0.18
 
 
0.32
 
 
0.12
Net realized and unrealized gain (loss) on investments(c)
 
 
2.18
 
 
6.73
 
 
9.62
 
 
0.22
 
 
0.53
 
 
(1.73)
Total from investment operations
 
 
2.36
 
 
7.11
 
 
10.04
 
 
0.40
 
 
0.85
 
 
(1.61)
LESS DISTRIBUTIONS FROM:
 
 
 
 
 
 
 
 
 
 
 
 
Net investment income
 
 
(0.70)
 
 
(0.53)
 
 
(0.56)
 
 
(0.16)
 
 
(0.30)
 
 
(0.10)
Net realized gains
 
 
—
 
 
(0.14)
 
 
(0.20)
 
 
(0.04)
 
 
(0.33)
 
 
—
Return of capital
 
 
(0.34)
 
 
(1.53)
 
 
(1.33)
 
 
(0.82)
 
 
(1.47)
 
 
(1.30)
Total distributions
 
 
(1.04)
 
 
(2.20)
 
 
(2.09)
 
 
(1.02)
 
 
(2.10)
 
 
(1.40)
Net asset value, end of period
 
 
$43.95
 
 
$42.63
 
 
$37.72
 
 
$29.77
 
 
$30.39
 
 
$31.64
Total return(d)
 
 
5.65%
 
 
19.54%
 
 
34.25%
 
 
1.25%
 
 
3.25%
 
 
−5.00%
SUPPLEMENTAL DATA AND RATIOS:
 
 
 
 
 
 
 
 
 
 
 
 
Net assets, end of period
(in thousands)
 
 
$1,561,035
 
 
$1,327,565
 
 
$594,106
 
 
$160,777
 
 
$109,388
 
 
$55,055
Ratio of expenses to average net assets(e)
 
 
0.60%
 
 
0.60%
 
 
0.63%
 
 
0.79%
 
 
0.79%
 
 
0.79%
Ratio of net investment income (loss) to average net assets(e)
 
 
0.86%
 
 
0.96%
 
 
1.16%
 
 
1.15%
 
 
1.07%
 
 
0.42%
Portfolio turnover rate(d)(f)
 
 
4%
 
 
6%
 
 
7%
 
 
4%
 
 
9%
 
 
7%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Inception date of the Fund was July 12, 2021.
(b)
Net investment income per share has been calculated based on average shares outstanding during the periods.
(c)
Realized and unrealized gains and losses per share in the caption are balancing amounts necessary to reconcile the change in net asset value per share for the periods and may not reconcile with the aggregate gains and losses in the Statement of Operations due to share transactions for the periods.
(d)
Not annualized for periods less than one year.
(e)
Annualized for periods less than one year.
(f)
Portfolio turnover rate excludes in-kind transactions.
(g)
For the period May 1, 2023 to October 31, 2023.
The accompanying notes are an integral part of these financial statements.
 
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TABLE OF CONTENTS

Pacer PE/VC ETF
Financial Highlights
 
 
 
 
 
 
 
 
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Period Ended
October 31,
2025(a)
PER SHARE DATA:
 
 
 
 
Net asset value, beginning of period
 
 
$29.36
 
 
$24.93
INVESTMENT OPERATIONS:
 
 
 
 
Net investment income(b)
 
 
0.07
 
 
0.07
Net realized and unrealized gain (loss) on investments(c)
 
 
0.55
 
 
4.42
Total from investment operations
 
 
0.62
 
 
4.49
LESS DISTRIBUTIONS FROM:
 
 
 
 
Net investment income
 
 
(1.23)
 
 
(0.06)
Total distributions
 
 
(1.23)
 
 
(0.06)
Net asset value, end of period
 
 
$28.75
 
 
$29.36
Total return(d)
 
 
2.18%
 
 
18.04%
SUPPLEMENTAL DATA AND RATIOS:
 
 
 
 
Net assets, end of period (in thousands)
 
 
$2,300
 
 
$3,523
Ratio of expenses to average net assets(e)
 
 
0.85%
 
 
0.85%
Ratio of net investment income (loss) to average net assets(e)
 
 
0.49%
 
 
0.39%
Portfolio turnover rate(d)(f)
 
 
58%
 
 
86%
 
 
 
 
 
 
 
(a)
Inception date of the Fund was February 3, 2025.
(b)
Net investment income per share has been calculated based on average shares outstanding during the periods.
(c)
Realized and unrealized gains and losses per share in the caption are balancing amounts necessary to reconcile the change in net asset value per share for the periods and may not reconcile with the aggregate gains and losses in the Statement of Operations due to share transactions for the periods.
(d)
Not annualized for periods less than one year.
(e)
Annualized for periods less than one year.
(f)
Portfolio turnover rate excludes in-kind transactions.
The accompanying notes are an integral part of these financial statements.
 
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TABLE OF CONTENTS

Pacer S&P 500 Quality FCF Aristocrats ETF
Financial Highlights
 
 
 
 
 
 
 
 
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Period Ended
October 31,
2025(a)
PER SHARE DATA:
 
 
 
 
Net asset value, beginning of period
 
 
$23.54
 
 
$19.83
INVESTMENT OPERATIONS:
 
 
 
 
Net investment income(b)
 
 
0.09
 
 
0.08
Net realized and unrealized gain (loss) on investments(c)
 
 
0.66
 
 
3.67
Total from investment operations
 
 
0.75
 
 
3.75
LESS DISTRIBUTIONS FROM:
 
 
 
 
Net investment income
 
 
(0.09)
 
 
(0.04)
Total distributions
 
 
(0.09)
 
 
(0.04)
Net asset value, end of period
 
 
$24.20
 
 
$23.54
Total return(d)
 
 
3.16%
 
 
18.92%
SUPPLEMENTAL DATA AND RATIOS:
 
 
 
 
Net assets, end of period (in thousands)
 
 
$22,985
 
 
$17,069
Ratio of expenses to average net assets(e)
 
 
0.49%
 
 
0.49%
Ratio of net investment income (loss) to average net assets(e)
 
 
0.78%
 
 
0.76%
Portfolio turnover rate(d)(f)
 
 
10%
 
 
15%
 
 
 
 
 
 
 
(a)
Inception date of the Fund was May 6, 2025.
(b)
Net investment income per share has been calculated based on average shares outstanding during the period.
(c)
Realized and unrealized gains and losses per share in the caption are balancing amounts necessary to reconcile the change in net asset value per share for the periods and may not reconcile with the aggregate gains and losses in the Statement of Operations due to share transactions for the periods.
(d)
Not annualized for periods less than one year.
(e)
Annualized for periods less than one year.
(f)
Portfolio turnover rate excludes in-kind transactions.
The accompanying notes are an integral part of these financial statements.
 
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TABLE OF CONTENTS

Pacer S&P 500 Quality FCF High Dividend ETF
Financial Highlights
 
 
 
 
 
 
 
Period Ended
April 30, 2026(a)
(Unaudited)
PER SHARE DATA:
 
 
Net asset value, beginning of period
 
 
$25.00
INVESTMENT OPERATIONS:
 
 
Net investment income(b)
 
 
0.23
Net realized and unrealized gain (loss) on investments(c)
 
 
1.45
Total from investment operations
 
 
1.68
LESS DISTRIBUTIONS FROM:
 
 
Net investment income
 
 
(0.11)
Total distributions
 
 
(0.11)
Net asset value, end of period
 
 
$26.57
Total return(d)
 
 
7.14%
SUPPLEMENTAL DATA AND RATIOS:
 
 
Net assets, end of period (in thousands)
 
 
$531
Ratio of expenses to average net assets(e)
 
 
0.49%
Ratio of net investment income (loss) to average net assets(e)
 
 
2.93%
Portfolio turnover rate(d)(f)
 
 
13%
 
 
 
 
(a)
Inception date of the Fund was January 12, 2026.
(b)
Net investment income per share has been calculated based on average shares outstanding during the period.
(c)
Realized and unrealized gains and losses per share in the caption are balancing amounts necessary to reconcile the change in net asset value per share for the periods and may not reconcile with the aggregate gains and losses in the Statement of Operations due to share transactions for the periods.
(d)
Not annualized for periods less than one year.
(e)
Annualized for periods less than one year.
(f)
Portfolio turnover rate excludes in-kind transactions.
The accompanying notes are an integral part of these financial statements.
 
97
 

TABLE OF CONTENTS

Pacer S&P 500 Quality FCF R&D Leaders ETF
Financial Highlights
 
 
 
 
 
 
 
Period Ended
April 30, 2026(a)
(Unaudited)
PER SHARE DATA:
 
 
Net asset value, beginning of period
 
 
$25.00
INVESTMENT OPERATIONS:
 
 
Net investment income(b)
 
 
0.02
Net realized and unrealized gain (loss) on investments(c)
 
 
0.26
Total from investment operations
 
 
0.28
LESS DISTRIBUTIONS FROM:
 
 
Net investment income
 
 
(0.01)
Total distributions
 
 
(0.01)
Net asset value, end of period
 
 
$25.27
Total return(d)
 
 
1.21%
SUPPLEMENTAL DATA AND RATIOS:
 
 
Net assets, end of period (in thousands)
 
 
$1,011
Ratio of expenses to average net assets(e)
 
 
0.49%
Ratio of net investment income (loss) to average net assets(e)
 
 
0.31%
Portfolio turnover rate(d)(f)
 
 
23%
 
 
 
 
(a)
Inception date of the Fund was January 12, 2026.
(b)
Net investment income per share has been calculated based on average shares outstanding during the period.
(c)
Realized and unrealized gains and losses per share in the caption are balancing amounts necessary to reconcile the change in net asset value per share for the periods and may not reconcile with the aggregate gains and losses in the Statement of Operations due to share transactions for the periods.
(d)
Not annualized for periods less than one year.
(e)
Annualized for periods less than one year.
(f)
Portfolio turnover rate excludes in-kind transactions.
The accompanying notes are an integral part of these financial statements.
 
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Pacer S&P MidCap 400 Quality FCF Aristocrats ETF
Financial Highlights
 
 
 
 
 
 
 
 
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Period Ended
October 31,
2025(a)
PER SHARE DATA:
 
 
 
 
Net asset value, beginning of period
 
 
$20.20
 
 
$20.18
INVESTMENT OPERATIONS:
 
 
 
 
Net investment income(b)
 
 
0.03
 
 
0.01
Net realized and unrealized gain (loss) on investments(c)
 
 
(0.50)
 
 
0.01
Total from investment operations
 
 
(0.47)
 
 
0.02
LESS DISTRIBUTIONS FROM:
 
 
 
 
Net investment income
 
 
(0.03)
 
 
—
Total distributions
 
 
(0.03)
 
 
—
Net asset value, end of period
 
 
$19.70
 
 
$20.20
Total return(d)
 
 
−2.34%
 
 
0.10%
SUPPLEMENTAL DATA AND RATIOS:
 
 
 
 
Net assets, end of period (in thousands)
 
 
$985
 
 
$1,010
Ratio of expenses to average net assets(e)
 
 
0.49%
 
 
0.49%
Ratio of net investment income (loss) to average net assets(e)
 
 
0.30%
 
 
0.28%
Portfolio turnover rate(d)(f)
 
 
33%
 
 
14%
 
 
 
 
 
 
 
(a)
Inception date of the Fund was August 27, 2025.
(b)
Net investment income per share has been calculated based on average shares outstanding during the period.
(c)
Realized and unrealized gains and losses per share in the caption are balancing amounts necessary to reconcile the change in net asset value per share for the periods and may not reconcile with the aggregate gains and losses in the Statement of Operations due to share transactions for the periods.
(d)
Not annualized for periods less than one year.
(e)
Annualized for periods less than one year.
(f)
Portfolio turnover rate excludes in-kind transactions.
The accompanying notes are an integral part of these financial statements.
 
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Pacer S&P SmallCap 600 Quality FCF Aristocrats ETF
Financial Highlights
 
 
 
 
 
 
 
 
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Period Ended
October 31,
2025(a)
PER SHARE DATA:
 
 
 
 
Net asset value, beginning of period
 
 
$19.70
 
 
$20.16
INVESTMENT OPERATIONS:
 
 
 
 
Net investment income(b)
 
 
0.05
 
 
0.01
Net realized and unrealized gain (loss) on investments(c)
 
 
0.89
 
 
(0.47)
Total from investment operations
 
 
0.94
 
 
(0.46)
LESS DISTRIBUTIONS FROM:
 
 
 
 
Net investment income
 
 
(0.06)
 
 
—
Total distributions
 
 
(0.06)
 
 
—
Net asset value, end of period
 
 
$20.58
 
 
$19.70
Total return(d)
 
 
4.76%
 
 
−2.29%
SUPPLEMENTAL DATA AND RATIOS:
 
 
 
 
Net assets, end of period (in thousands)
 
 
$1,543
 
 
$985
Ratio of expenses to average net assets(e)
 
 
0.59%
 
 
0.59%
Ratio of net investment income (loss) to average net assets(e)
 
 
0.53%
 
 
0.25%
Portfolio turnover rate(d)(f)
 
 
44%
 
 
32%
 
 
 
 
 
 
 
(a)
Inception date of the Fund was August 27, 2025.
(b)
Net investment income per share has been calculated based on average shares outstanding during the period.
(c)
Realized and unrealized gains and losses per share in the caption are balancing amounts necessary to reconcile the change in net asset value per share for the periods and may not reconcile with the aggregate gains and losses in the Statement of Operations due to share transactions for the periods.
(d)
Not annualized for periods less than one year.
(e)
Annualized for periods less than one year.
(f)
Portfolio turnover rate excludes in-kind transactions.
The accompanying notes are an integral part of these financial statements.
 
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TABLE OF CONTENTS

Pacer Solactive Whitney Future of Warfare ETF
Financial Highlights
 
 
 
 
 
 
 
 
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Period Ended
October 31,
2025(a)
PER SHARE DATA:
 
 
 
 
Net asset value, beginning of period
 
 
$31.44
 
 
$24.76
INVESTMENT OPERATIONS:
 
 
 
 
Net investment income(b)
 
 
0.16
 
 
0.21
Net realized and unrealized gain (loss) on investments(c)
 
 
1.38
 
 
6.67
Total from investment operations
 
 
1.54
 
 
6.88
LESS DISTRIBUTIONS FROM:
 
 
 
 
Net investment income
 
 
(0.08)
 
 
(0.20)
Total distributions
 
 
(0.08)
 
 
(0.20)
Net asset value, end of period
 
 
$32.90
 
 
$31.44
Total return(d)
 
 
4.93%
 
 
27.86%
SUPPLEMENTAL DATA AND RATIOS:
 
 
 
 
Net assets, end of period (in thousands)
 
 
$14,805
 
 
$6,287
Ratio of expenses to average net assets(e)(h)
 
 
0.49%
 
 
0.54%
Ratio of tax expenses to average net assets(e)
 
 
—%
 
 
0.00%(f)
Ratio of net investment income (loss) to average net assets(e)
 
 
0.98%
 
 
0.85%
Portfolio turnover rate(d)(g)
 
 
10%
 
 
39%
 
 
 
 
 
 
 
(a)
Inception date of the Fund was December 17, 2024.
(b)
Net investment income per share has been calculated based on average shares outstanding during the periods.
(c)
Realized and unrealized gains and losses per share in the caption are balancing amounts necessary to reconcile the change in net asset value per share for the periods and may not reconcile with the aggregate gains and losses in the Statement of Operations due to share transactions for the periods.
(d)
Not annualized for periods less than one year.
(e)
Annualized for periods less than one year.
(f)
Amount represents less than 0.005%.
(g)
Portfolio turnover rate excludes in-kind transactions.
(h)
Effective August 1, 2025 the investment advisory fee changed from 0.60% to 0.49%
The accompanying notes are an integral part of these financial statements.
 
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Pacer Swan SOS Conservative April ETF
Financial Highlights
 
 
 
 
 
 
 
 
 
 
 
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Year Ended October 31,
 
 
Period Ended
October 31,
2021(a)
 
2025
 
 
2024
 
 
2023
 
 
2022
 
PER SHARE DATA:
 
 
 
 
 
 
 
 
 
 
 
 
Net asset value, beginning of period
 
 
$27.53
 
 
$25.61
 
 
$21.40
 
 
$20.75
 
 
$21.73
 
 
$20.61
INVESTMENT OPERATIONS:
 
 
 
 
 
 
 
 
 
 
 
 
Net investment loss(b)
 
 
(0.08)
 
 
(0.15)
 
 
(0.15)
 
 
(0.15)
 
 
(0.16)
 
 
(0.09)
Net realized and unrealized gain (loss) on investments(c)
 
 
2.11
 
 
2.07
 
 
4.36
 
 
0.80
 
 
(0.82)
 
 
1.21
Total from investment operations
 
 
2.03
 
 
1.92
 
 
4.21
 
 
0.65
 
 
(0.98)
 
 
1.12
ETF transaction fees per share
 
 
0.00(d)
 
 
0.00(d)
 
 
0.00(d)
 
 
0.00(d)
 
 
0.00(d)
 
 
—
Net asset value, end of period
 
 
$29.56
 
 
$27.53
 
 
$25.61
 
 
$21.40
 
 
$20.75
 
 
$21.73
Total return(e)
 
 
7.35%
 
 
7.53%
 
 
19.66%
 
 
3.13%
 
 
−4.52%
 
 
5.45%
SUPPLEMENTAL DATA AND RATIOS:
 
 
 
 
 
 
 
 
 
 
 
 
Net assets, end of period (in thousands)
 
 
$60,594
 
 
$77,097
 
 
$37,769
 
 
$10,165
 
 
$16,081
 
 
$2,717
Ratio of expenses to average net assets(f)
 
 
0.60%
 
 
0.60%
 
 
0.63%
 
 
0.76%
 
 
0.76%
 
 
0.75%
Ratio of dividends, interest and borrowing expense to average net assets(f)
 
 
—%
 
 
—%
 
 
0.01%
 
 
0.01%
 
 
—%
 
 
—%
Ratio of expenses to average net assets excluding dividends, interest, and borrowing expense(f)
 
 
0.60%
 
 
0.60%
 
 
0.62%
 
 
0.75%
 
 
0.76%
 
 
0.75%
Ratio of net investment income (loss) to average net assets(f)
 
 
(0.58)%
 
 
(0.58)%
 
 
(0.60)%
 
 
(0.73)%
 
 
(0.75)%
 
 
(0.75)%
Portfolio turnover rate(e)(g)
 
 
—%
 
 
—%
 
 
13%
 
 
—%
 
 
—%
 
 
—%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Inception date of the Fund was March 31, 2021.
(b)
Net investment income per share has been calculated based on average shares outstanding during the periods.
(c)
Realized and unrealized gains and losses per share in the caption are balancing amounts necessary to reconcile the change in net asset value per share for the periods and may not reconcile with the aggregate gains and losses in the Statement of Operations due to share transactions for the periods.
(d)
Amount represents less than $0.005 per share.
(e)
Not annualized for periods less than one year.
(f)
Annualized for periods less than one year.
(g)
Portfolio turnover rate excludes in-kind transactions.
The accompanying notes are an integral part of these financial statements.
 
102
 

TABLE OF CONTENTS

Pacer Swan SOS Conservative January ETF
Financial Highlights
 
 
 
 
 
 
 
 
 
 
 
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Year Ended October 31,
 
 
Period Ended
October 31,
2021(a)
 
2025
 
 
2024
 
 
2023
 
 
2022
 
PER SHARE DATA:
 
 
 
 
 
 
 
 
 
 
 
 
Net asset value, beginning of period
 
 
$30.45
 
 
$27.22
 
 
$22.73
 
 
$20.89
 
 
$22.19
 
 
$20.56
INVESTMENT OPERATIONS:
 
 
 
 
 
 
 
 
 
 
 
 
Net investment loss(b)
 
 
(0.09)
 
 
(0.16)
 
 
(0.16)
 
 
(0.16)
 
 
(0.16)
 
 
(0.14)
Net realized and unrealized gain (loss) on investments(c)
 
 
1.65
 
 
3.39
 
 
4.65
 
 
2.00
 
 
(1.14)
 
 
1.77
Total from investment operations
 
 
1.56
 
 
3.23
 
 
4.49
 
 
1.84
 
 
(1.30)
 
 
1.63
ETF transaction fees per share
 
 
0.00(d)
 
 
0.00(d)
 
 
0.00(d)
 
 
0.00(d)
 
 
0.00(d)
 
 
—
Net asset value, end of period
 
 
$32.01
 
 
$30.45
 
 
$27.22
 
 
$22.73
 
 
$20.89
 
 
$22.19
Total return(e)
 
 
5.15%
 
 
11.86%
 
 
19.74%
 
 
8.79%
 
 
−5.85%
 
 
7.94%
SUPPLEMENTAL DATA AND RATIOS:
 
 
 
 
 
 
 
 
 
 
 
 
Net assets, end of period (in thousands)
 
 
$46,421
 
 
$31,969
 
 
$19,733
 
 
$10,229
 
 
$15,670
 
 
$2,774
Ratio of expenses to average net assets(f)
 
 
0.60%
 
 
0.60%
 
 
0.64%
 
 
0.77%
 
 
0.76%
 
 
0.75%
Ratio of dividends, interest and borrowing expense to average net assets(f)
 
 
—%
 
 
—%
 
 
0.01%
 
 
0.02%
 
 
—%
 
 
—%
Ratio of expenses to average net assets excluding dividends, interest, and borrowing expense(f)
 
 
0.60%
 
 
0.60%
 
 
0.63%
 
 
0.75%
 
 
0.76%
 
 
0.75%
Ratio of net investment income (loss) to average net assets(f)
 
 
(0.59)%
 
 
(0.58)%
 
 
(0.61)%
 
 
(0.74)%
 
 
(0.75)%
 
 
(0.75)%
Portfolio turnover rate(e)(g)
 
 
—%
 
 
—%
 
 
4%
 
 
—%
 
 
19%
 
 
—%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Inception date of the Fund was December 22, 2020.
(b)
Net investment income per share has been calculated based on average shares outstanding during the periods.
(c)
Realized and unrealized gains and losses per share in the caption are balancing amounts necessary to reconcile the change in net asset value per share for the periods and may not reconcile with the aggregate gains and losses in the Statement of Operations due to share transactions for the periods.
(d)
Amount represents less than $0.005 per share.
(e)
Not annualized for periods less than one year.
(f)
Annualized for periods less than one year.
(g)
Portfolio turnover rate excludes in-kind transactions.
The accompanying notes are an integral part of these financial statements.
 
103
 

TABLE OF CONTENTS

Pacer Swan SOS Conservative July ETF
Financial Highlights
 
 
 
 
 
 
 
 
 
 
 
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Year Ended October 31,
 
 
Period Ended
October 31,
2021(a)
 
2025
 
 
2024
 
 
2023
 
 
2022
 
PER SHARE DATA:
 
 
 
 
 
 
 
 
 
 
 
 
Net asset value, beginning of period
 
 
$29.72
 
 
$26.13
 
 
$21.28
 
 
$19.50
 
 
$20.94
 
 
$20.48
INVESTMENT OPERATIONS:
 
 
 
 
 
 
 
 
 
 
 
 
Net investment loss(b)
 
 
(0.09)
 
 
(0.16)
 
 
(0.15)
 
 
(0.15)
 
 
(0.15)
 
 
(0.05)
Net realized and unrealized gain (loss) on investments(c)
 
 
1.49
 
 
3.75
 
 
5.00
 
 
1.93
 
 
(1.29)
 
 
0.51
Total from investment operations
 
 
1.40
 
 
3.59
 
 
4.85
 
 
1.78
 
 
(1.44)
 
 
0.46
ETF transaction fees per share
 
 
0.00(d)
 
 
0.00(d)
 
 
0.00(d)
 
 
0.00(d)
 
 
0.00(d)
 
 
—
Net asset value, end of period
 
 
$31.12
 
 
$29.72
 
 
$26.13
 
 
$21.28
 
 
$19.50
 
 
$20.94
Total return(e)
 
 
4.70%
 
 
13.74%
 
 
22.80%
 
 
9.16%
 
 
−6.88%
 
 
2.22%
SUPPLEMENTAL DATA AND RATIOS:
 
 
 
 
 
 
 
 
 
 
 
 
Net assets, end of period (in thousands)
 
 
$41,231
 
 
$43,097
 
 
$37,237
 
 
$9,045
 
 
$6,336
 
 
$3,664
Ratio of expenses to average net assets(f)
 
 
0.60%
 
 
0.60%
 
 
0.64%
 
 
0.76%
 
 
0.76%
 
 
0.76%
Ratio of dividends, interest and borrowing expense to average net assets(f)
 
 
—%
 
 
—%
 
 
0.01%
 
 
0.01%
 
 
—%
 
 
—%
Ratio of expenses to average net assets excluding dividends, interest, and borrowing expense(f)
 
 
0.60%
 
 
0.60%
 
 
0.63%
 
 
0.75%
 
 
—%
 
 
—%
Ratio of net investment income (loss) to average net assets(f)
 
 
(0.58)%
 
 
(0.58)%
 
 
(0.60)%
 
 
(0.72)%
 
 
(0.75)%
 
 
(0.76)%
Portfolio turnover rate(e)(g)
 
 
—%
 
 
—%
 
 
2%
 
 
—%
 
 
—%
 
 
—%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Inception date of the Fund was June 30, 2021.
(b)
Net investment income per share has been calculated based on average shares outstanding during the periods.
(c)
Realized and unrealized gains and losses per share in the caption are balancing amounts necessary to reconcile the change in net asset value per share for the periods and may not reconcile with the aggregate gains and losses in the Statement of Operations due to share transactions for the periods.
(d)
Amount represents less than $0.005 per share.
(e)
Not annualized for periods less than one year.
(f)
Annualized for periods less than one year.
(g)
Portfolio turnover rate excludes in-kind transactions.
The accompanying notes are an integral part of these financial statements.
 
104
 

TABLE OF CONTENTS

Pacer Swan SOS Conservative October ETF
Financial Highlights
 
 
 
 
 
 
 
 
 
 
 
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Year Ended October 31,
 
 
Period Ended
October 31,
2021(a)
 
2025
 
 
2024
 
 
2023
 
 
2022
 
PER SHARE DATA:
 
 
 
 
 
 
 
 
 
 
 
 
Net asset value, beginning of period
 
 
$29.26
 
 
$26.01
 
 
$22.38
 
 
$19.89
 
 
$20.86
 
 
$20.51
INVESTMENT OPERATIONS:
 
 
 
 
 
 
 
 
 
 
 
 
Net investment loss(b)
 
 
(0.09)
 
 
(0.16)
 
 
(0.16)
 
 
(0.16)
 
 
(0.15)
 
 
(0.01)
Net realized and unrealized gain (loss) on investments(c)
 
 
1.34
 
 
3.41
 
 
3.79
 
 
2.65
 
 
(0.82)
 
 
0.36
Total from investment operations
 
 
1.25
 
 
3.25
 
 
3.63
 
 
2.49
 
 
(0.97)
 
 
0.35
ETF transaction fees per share
 
 
0.00(d)
 
 
0.00(d)
 
 
0.00(d)
 
 
0.00(d)
 
 
0.00(d)
 
 
—
Net asset value, end of period
 
 
$30.51
 
 
$29.26
 
 
$26.01
 
 
$22.38
 
 
$19.89
 
 
$20.86
Total return(e)
 
 
4.24%
 
 
12.50%
 
 
16.24%
 
 
12.54%
 
 
−4.67%
 
 
1.71%
SUPPLEMENTAL DATA AND RATIOS:
 
 
 
 
 
 
 
 
 
 
 
 
Net assets, end of period (in thousands)
 
 
$47,284
 
 
$42,433
 
 
$14,958
 
 
$6,713
 
 
$4,971
 
 
$2,607
Ratio of expenses to average net assets(f)
 
 
0.60%
 
 
0.60%
 
 
0.65%
 
 
0.77%
 
 
0.76%
 
 
0.75%
Ratio of dividends, interest and borrowing expense to average net assets(f)
 
 
—%
 
 
—%
 
 
0.01%
 
 
0.02%
 
 
—%
 
 
—%
Ratio of expenses to average net assets excluding dividends, interest, and borrowing expense(f)
 
 
0.60%
 
 
0.60%
 
 
0.64%
 
 
0.75%
 
 
0.76%
 
 
0.75%
Ratio of net investment income (loss) to average net assets(f)
 
 
(0.60)%
 
 
(0.58)%
 
 
(0.62)%
 
 
(0.74)%
 
 
(0.75)%
 
 
(0.75)%
Portfolio turnover rate(e)(g)
 
 
—%
 
 
—%
 
 
—%
 
 
—%
 
 
—%
 
 
—%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Inception date of the Fund was September 30, 2021.
(b)
Net investment income per share has been calculated based on average shares outstanding during the periods.
(c)
Realized and unrealized gains and losses per share in the caption are balancing amounts necessary to reconcile the change in net asset value per share for the periods and may not reconcile with the aggregate gains and losses in the Statement of Operations due to share transactions for the periods.
(d)
Amount represents less than $0.005 per share.
(e)
Not annualized for periods less than one year.
(f)
Annualized for periods less than one year.
(g)
Portfolio turnover rate excludes in-kind transactions.
The accompanying notes are an integral part of these financial statements.
 
105
 

TABLE OF CONTENTS

Pacer Swan SOS Flex April ETF
Financial Highlights
 
 
 
 
 
 
 
 
 
 
 
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Year Ended October 31,
 
 
Period Ended
October 31,
2021(a)
 
2025
 
 
2024
 
 
2023
 
 
2022
 
PER SHARE DATA:
 
 
 
 
 
 
 
 
 
 
 
 
Net asset value, beginning of period
 
 
$31.37
 
 
$28.99
 
 
$23.69
 
 
$21.58
 
 
$22.75
 
 
$20.61
INVESTMENT OPERATIONS:
 
 
 
 
 
 
 
 
 
 
 
 
Net investment loss(b)
 
 
(0.09)
 
 
(0.17)
 
 
(0.17)
 
 
(0.17)
 
 
(0.17)
 
 
(0.10)
Net realized and unrealized gain (loss) on investments(c)
 
 
2.89
 
 
2.55
 
 
5.47
 
 
2.28
 
 
(1.00)
 
 
2.24
Total from investment operations
 
 
2.80
 
 
2.38
 
 
5.30
 
 
2.11
 
 
(1.17)
 
 
2.14
ETF transaction fees per share
 
 
0.00(d)
 
 
0.00(d)
 
 
0.00(d)
 
 
0.00(d)
 
 
0.00(d)
 
 
—
Net asset value, end of period
 
 
$34.17
 
 
$31.37
 
 
$28.99
 
 
$23.69
 
 
$21.58
 
 
$22.75
Total return(e)
 
 
8.94%
 
 
8.19%
 
 
22.39%
 
 
9.80%
 
 
−5.15%
 
 
10.37%
SUPPLEMENTAL DATA AND RATIOS:
 
 
 
 
 
 
 
 
 
 
 
 
Net assets, end of period (in thousands)
 
 
$22,214
 
 
$21,959
 
 
$24,645
 
 
$16,582
 
 
$12,406
 
 
$7,962
Ratio of expenses to average net assets(f)
 
 
0.60%
 
 
0.60%
 
 
0.65%
 
 
0.76%
 
 
0.77%
 
 
0.75%
Ratio of dividends, interest and borrowing expense to average net assets(f)
 
 
—%
 
 
—%
 
 
0.01%
 
 
0.01%
 
 
—%
 
 
—%
Ratio of expenses to average net assets excluding dividends, interest, and borrowing expense(f)
 
 
0.60%
 
 
0.60%
 
 
0.64%
 
 
0.75%
 
 
0.77%
 
 
0.75%
Ratio of net investment income (loss) to average net assets(f)
 
 
(0.58)%
 
 
(0.58)%
 
 
(0.62)%
 
 
(0.73)%
 
 
(0.76)%
 
 
(0.75)%
Portfolio turnover rate(e)(g)
 
 
—%
 
 
—%
 
 
7%
 
 
—%
 
 
—%
 
 
—%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Inception date of the Fund was March 31, 2021.
(b)
Net investment income per share has been calculated based on average shares outstanding during the periods.
(c)
Realized and unrealized gains and losses per share in the caption are balancing amounts necessary to reconcile the change in net asset value per share for the periods and may not reconcile with the aggregate gains and losses in the Statement of Operations due to share transactions for the periods.
(d)
Amount represents less than $0.005 per share.
(e)
Not annualized for periods less than one year.
(f)
Annualized for periods less than one year.
(g)
Portfolio turnover rate excludes in-kind transactions.
The accompanying notes are an integral part of these financial statements.
 
106
 

TABLE OF CONTENTS

Pacer Swan SOS Flex January ETF
Financial Highlights
 
 
 
 
 
 
 
 
 
 
 
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Year Ended October 31,
 
 
Period Ended
October 31,
2021(a)
 
2025
 
 
2024
 
 
2023
 
 
2022
 
PER SHARE DATA:
 
 
 
 
 
 
 
 
 
 
 
 
Net asset value, beginning of period
 
 
$36.67
 
 
$32.46
 
 
$25.92
 
 
$22.93
 
 
$23.82
 
 
$20.56
INVESTMENT OPERATIONS:
 
 
 
 
 
 
 
 
 
 
 
 
Net investment loss(b)
 
 
(0.11)
 
 
(0.20)
 
 
(0.19)
 
 
(0.19)
 
 
(0.17)
 
 
(0.15)
Net realized and unrealized gain (loss) on investments(c)
 
 
2.32
 
 
4.41
 
 
6.73
 
 
3.18
 
 
(0.73)
 
 
3.41
Total from investment operations
 
 
2.21
 
 
4.21
 
 
6.54
 
 
2.99
 
 
(0.90)
 
 
3.26
ETF transaction fees per share
 
 
0.00(d)
 
 
0.00(d)
 
 
0.00(d)
 
 
0.00(d)
 
 
0.01
 
 
—
Net asset value, end of period
 
 
$38.88
 
 
$36.67
 
 
$32.46
 
 
$25.92
 
 
$22.93
 
 
$23.82
Total return(e)
 
 
6.02%
 
 
12.96%
 
 
25.23%
 
 
13.05%
 
 
−3.74%
 
 
15.85%
SUPPLEMENTAL DATA AND RATIOS:
 
 
 
 
 
 
 
 
 
 
 
 
Net assets, end of period (in thousands)
 
 
$58,313
 
 
$48,583
 
 
$47,067
 
 
$18,147
 
 
$17,196
 
 
$3,573
Ratio of expenses to average net assets(f)
 
 
0.60%
 
 
0.60%
 
 
0.64%
 
 
0.77%
 
 
0.76%
 
 
0.75%
Ratio of dividends, interest and borrowing expense to average net assets(f)
 
 
—%
 
 
—%
 
 
0.01%
 
 
0.02%
 
 
—%
 
 
—%
Ratio of expenses to average net assets excluding dividends, interest, and borrowing expense(f)
 
 
0.60%
 
 
0.60%
 
 
0.63%
 
 
0.75%
 
 
0.76%
 
 
0.75%
Ratio of net investment income (loss) to average net assets(f)
 
 
(0.58)%
 
 
(0.58)%
 
 
(0.61)%
 
 
(0.73)%
 
 
(0.76)%
 
 
(0.75)%
Portfolio turnover rate(e)(g)
 
 
—%
 
 
—%
 
 
6%
 
 
—%
 
 
226%
 
 
—%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Inception date of the Fund was December 22, 2020.
(b)
Net investment income per share has been calculated based on average shares outstanding during the periods.
(c)
Realized and unrealized gains and losses per share in the caption are balancing amounts necessary to reconcile the change in net asset value per share for the periods and may not reconcile with the aggregate gains and losses in the Statement of Operations due to share transactions for the periods.
(d)
Amount represents less than $0.005 per share.
(e)
Not annualized for periods less than one year.
(f)
Annualized for periods less than one year.
(g)
Portfolio turnover rate excludes in-kind transactions.
The accompanying notes are an integral part of these financial statements.
 
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TABLE OF CONTENTS

Pacer Swan SOS Flex July ETF
Financial Highlights
 
 
 
 
 
 
 
 
 
 
 
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Year Ended October 31,
 
 
Period Ended
October 31,
2021(a)
 
2025
 
 
2024
 
 
2023
 
 
2022
 
PER SHARE DATA:
 
 
 
 
 
 
 
 
 
 
 
 
Net asset value, beginning of period
 
 
$32.76
 
 
$28.54
 
 
$22.96
 
 
$20.78
 
 
$21.31
 
 
$20.48
INVESTMENT OPERATIONS:
 
 
 
 
 
 
 
 
 
 
 
 
Net investment loss(b)
 
 
(0.10)
 
 
(0.18)
 
 
(0.17)
 
 
(0.16)
 
 
(0.16)
 
 
(0.05)
Net realized and unrealized gain (loss) on investments(c)
 
 
1.81
 
 
4.40
 
 
5.75
 
 
2.34
 
 
(0.37)
 
 
0.88
Total from investment operations
 
 
1.71
 
 
4.22
 
 
5.58
 
 
2.18
 
 
(0.53)
 
 
0.83
ETF transaction fees per share
 
 
0.00(d)
 
 
0.00(d)
 
 
0.00(d)
 
 
0.00(d)
 
 
0.00(d)
 
 
—
Net asset value, end of period
 
 
$34.47
 
 
$32.76
 
 
$28.54
 
 
$22.96
 
 
$20.78
 
 
$21.31
Total return(e)
 
 
5.23%
 
 
14.79%
 
 
24.30%
 
 
10.49%
 
 
−2.49%
 
 
4.05%
SUPPLEMENTAL DATA AND RATIOS:
 
 
 
 
 
 
 
 
 
 
 
 
Net assets, end of period (in thousands)
 
 
$34,472
 
 
$39,312
 
 
$27,113
 
 
$22,960
 
 
$12,468
 
 
$5,327
Ratio of expenses to average net assets(f)
 
 
0.60%
 
 
0.60%
 
 
0.66%
 
 
0.77%
 
 
0.76%
 
 
0.76%
Ratio of dividends, interest and borrowing expense to average net assets(f)
 
 
—%
 
 
—%
 
 
0.01%
 
 
0.02%
 
 
—%
 
 
—%
Ratio of expenses to average net assets excluding dividends, interest, and borrowing expense(f)
 
 
0.60%
 
 
0.60%
 
 
0.65%
 
 
0.75%
 
 
0.76%
 
 
0.76%
Ratio of net investment income (loss) to average net assets(f)
 
 
(0.58)%
 
 
(0.58)%
 
 
(0.62)%
 
 
(0.69)%
 
 
(0.75)%
 
 
(0.76)%
Portfolio turnover rate(e)(g)
 
 
—%
 
 
—%
 
 
12%
 
 
—%
 
 
—%
 
 
—%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Inception date of the Fund was June 30, 2021.
(b)
Net investment income per share has been calculated based on average shares outstanding during the periods.
(c)
Realized and unrealized gains and losses per share in the caption are balancing amounts necessary to reconcile the change in net asset value per share for the periods and may not reconcile with the aggregate gains and losses in the Statement of Operations due to share transactions for the periods.
(d)
Amount represents less than $0.005 per share.
(e)
Not annualized for periods less than one year.
(f)
Annualized for periods less than one year.
(g)
Portfolio turnover rate excludes in-kind transactions.
The accompanying notes are an integral part of these financial statements.
 
108
 

TABLE OF CONTENTS

Pacer Swan SOS Flex October ETF
Financial Highlights
 
 
 
 
 
 
 
 
 
 
 
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Year Ended October 31,
 
 
Period Ended
October 31,
2021(a)
 
2025
 
 
2024
 
 
2023
 
 
2022
 
PER SHARE DATA:
 
 
 
 
 
 
 
 
 
 
 
 
Net asset value, beginning of period
 
 
$32.11
 
 
$28.07
 
 
$23.81
 
 
$21.32
 
 
$21.26
 
 
$20.51
INVESTMENT OPERATIONS:
 
 
 
 
 
 
 
 
 
 
 
 
Net investment loss(b)
 
 
(0.09)
 
 
(0.17)
 
 
(0.17)
 
 
(0.17)
 
 
(0.16)
 
 
(0.01)
Net realized and unrealized gain (loss) on investments(c)
 
 
1.72
 
 
4.21
 
 
4.43
 
 
2.66
 
 
0.22
 
 
0.76
Total from investment operations
 
 
1.63
 
 
4.04
 
 
4.26
 
 
2.49
 
 
0.06
 
 
0.75
ETF transaction fees per share
 
 
0.00(d)
 
 
0.00(d)
 
 
0.00(d)
 
 
0.00(d)
 
 
0.00(d)
 
 
—
Net asset value, end of period
 
 
$33.74
 
 
$32.11
 
 
$28.07
 
 
$23.81
 
 
$21.32
 
 
$21.26
Total return(e)
 
 
5.09%
 
 
14.36%
 
 
17.90%
 
 
11.66%
 
 
0.31%
 
 
3.64%
SUPPLEMENTAL DATA AND RATIOS:
 
 
 
 
 
 
 
 
 
 
 
 
Net assets, end of period (in thousands)
 
 
$44,703
 
 
$25,684
 
 
$14,738
 
 
$10,715
 
 
$10,662
 
 
$3,720
Ratio of expenses to average net assets(f)
 
 
0.60%
 
 
0.60%
 
 
0.65%
 
 
0.77%
 
 
0.76%
 
 
0.75%
Ratio of dividends, interest and borrowing expense to average net assets(f)
 
 
—%
 
 
—%
 
 
0.01%
 
 
0.02%
 
 
—%
 
 
—%
Ratio of expenses to average net assets excluding dividends, interest, and borrowing expense(f)
 
 
0.60%
 
 
0.60%
 
 
0.65%
 
 
0.75%
 
 
0.76%
 
 
0.75%
Ratio of net investment income (loss) to average net assets(f)
 
 
(0.59)%
 
 
(0.59)%
 
 
(0.62)%
 
 
(0.74)%
 
 
(0.75)%
 
 
(0.75)%
Portfolio turnover rate(e)(g)
 
 
—%
 
 
—%
 
 
—%
 
 
12%
 
 
—%
 
 
—%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Inception date of the Fund was September 30, 2021.
(b)
Net investment income per share has been calculated based on average shares outstanding during the periods.
(c)
Realized and unrealized gains and losses per share in the caption are balancing amounts necessary to reconcile the change in net asset value per share for the periods and may not reconcile with the aggregate gains and losses in the Statement of Operations due to share transactions for the periods.
(d)
Amount represents less than $0.005 per share.
(e)
Not annualized for periods less than one year.
(f)
Annualized for periods less than one year.
(g)
Portfolio turnover rate excludes in-kind transactions.
The accompanying notes are an integral part of these financial statements.
 
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TABLE OF CONTENTS

Pacer Swan SOS Fund of Funds ETF
Financial Highlights
 
 
 
 
 
 
 
 
 
 
 
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Year Ended October 31,
 
 
Period Ended
October 31,
2021(a)
 
2025
 
 
2024
 
 
2023
 
 
2022
 
PER SHARE DATA:
 
 
 
 
 
 
 
 
 
 
 
 
Net asset value, beginning of period
 
 
$31.85
 
 
$28.62
 
 
$23.81
 
 
$21.56
 
 
$22.49
 
 
$20.26
INVESTMENT OPERATIONS:
 
 
 
 
 
 
 
 
 
 
 
 
Net investment loss(b)
 
 
(0.02)
 
 
(0.03)
 
 
(0.03)
 
 
(0.04)
 
 
(0.03)
 
 
(0.03)
Net realized and unrealized gain (loss) on investments(c)
 
 
1.74
 
 
3.24
 
 
4.81
 
 
2.27
 
 
(0.96)
 
 
2.26
Total from investment operations
 
 
1.72
 
 
3.21
 
 
4.78
 
 
2.23
 
 
(0.99)
 
 
2.23
ETF transaction fees per share
 
 
0.01
 
 
0.02
 
 
0.03
 
 
0.02
 
 
0.06
 
 
—
Net asset value, end of period
 
 
$33.58
 
 
$31.85
 
 
$28.62
 
 
$23.81
 
 
$21.56
 
 
$22.49
Total return(d)
 
 
5.44%
 
 
11.29%
 
 
20.19%
 
 
10.42%
 
 
−4.12%
 
 
11.01%
SUPPLEMENTAL DATA AND RATIOS:
 
 
 
 
 
 
 
 
 
 
 
 
Net assets, end of period (in thousands)
 
 
$567,487
 
 
$520,691
 
 
$377,741
 
 
$173,239
 
 
$118,060
 
 
$38,234
Ratio of expenses to average net assets(e)(f)
 
 
0.12%
 
 
0.12%
 
 
0.14%
 
 
0.18%
 
 
0.18%
 
 
0.18%
Ratio of dividends, interest and borrowing expense to average net assets(e)(f)
 
 
—%
 
 
—%
 
 
0.00%(g)
 
 
—%
 
 
—%
 
 
—%
Ratio of net investment income (loss) to average net assets(e)(f)
 
 
(0.10)%
 
 
(0.10)%
 
 
(0.11)%
 
 
(0.15)%
 
 
(0.13)%
 
 
(0.18)%
Portfolio turnover rate(d)(h)
 
 
—%
 
 
—%
 
 
—%
 
 
6%
 
 
11%
 
 
69%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Inception date of the Fund was December 29, 2020.
(b)
Net investment income per share has been calculated based on average shares outstanding during the periods.
(c)
Realized and unrealized gains and losses per share in the caption are balancing amounts necessary to reconcile the change in net asset value per share for the periods and may not reconcile with the aggregate gains and losses in the Statement of Operations due to share transactions for the periods.
(d)
Not annualized for periods less than one year.
(e)
Annualized for periods less than one year.
(f)
Ratios do not include the expenses of the underlying investment companies in which the Fund invests.
(g)
Amount represents less than 0.005%.
(h)
Portfolio turnover rate excludes in-kind transactions.
The accompanying notes are an integral part of these financial statements.
 
110
 

TABLE OF CONTENTS

Pacer Swan SOS Moderate April ETF
Financial Highlights
 
 
 
 
 
 
 
 
 
 
 
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Year Ended October 31,
 
 
Period Ended
October 31,
2021(a)
 
2025
 
 
2024
 
 
2023
 
 
2022
 
PER SHARE DATA:
 
 
 
 
 
 
 
 
 
 
 
 
Net asset value, beginning of period
 
 
$29.42
 
 
$27.34
 
 
$22.96
 
 
$21.12
 
 
$21.98
 
 
$20.61
INVESTMENT OPERATIONS:
 
 
 
 
 
 
 
 
 
 
 
 
Net investment loss(b)
 
 
(0.09)
 
 
(0.16)
 
 
(0.16)
 
 
(0.17)
 
 
(0.16)
 
 
(0.10)
Net realized and unrealized gain (loss) on investments(c)
 
 
2.33
 
 
2.24
 
 
4.54
 
 
2.01
 
 
(0.70)
 
 
1.47
Total from investment operations
 
 
2.24
 
 
2.08
 
 
4.38
 
 
1.84
 
 
(0.86)
 
 
1.37
ETF transaction fees per share
 
 
0.00(d)
 
 
0.00(d)
 
 
0.00(d)
 
 
0.00(d)
 
 
0.00(d)
 
 
—
Net asset value, end of period
 
 
$31.66
 
 
$29.42
 
 
$27.34
 
 
$22.96
 
 
$21.12
 
 
$21.98
Total return(e)
 
 
7.62%
 
 
7.63%
 
 
19.06%
 
 
8.70%
 
 
−3.92%
 
 
6.67%
SUPPLEMENTAL DATA AND RATIOS:
 
 
 
 
 
 
 
 
 
 
 
 
Net assets, end of period (in thousands)
 
 
$86,282
 
 
$87,526
 
 
$71,073
 
 
$29,849
 
 
$17,954
 
 
$5,496
Ratio of expenses to average net assets(f)
 
 
0.60%
 
 
0.60%
 
 
0.64%
 
 
0.76%
 
 
0.76%
 
 
0.75%
Ratio of dividends, interest and borrowing expense to average net assets(f)
 
 
—%
 
 
—%
 
 
0.01%
 
 
0.01%
 
 
—%
 
 
—%
Ratio of expenses to average net assets excluding dividends, interest, and borrowing expense(f)
 
 
0.60%
 
 
0.60%
 
 
0.63%
 
 
0.75%
 
 
0.76%
 
 
0.75%
Ratio of net investment income (loss) to average net assets(f)
 
 
(0.58)%
 
 
(0.58)%
 
 
(0.60)%
 
 
(0.73)%
 
 
(0.75)%
 
 
(0.75)%
Portfolio turnover rate(e)(g)
 
 
—%
 
 
—%
 
 
27%
 
 
—%
 
 
—%
 
 
—%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Inception date of the Fund was March 31, 2021.
(b)
Net investment income per share has been calculated based on average shares outstanding during the periods.
(c)
Realized and unrealized gains and losses per share in the caption are balancing amounts necessary to reconcile the change in net asset value per share for the periods and may not reconcile with the aggregate gains and losses in the Statement of Operations due to share transactions for the periods.
(d)
Amount represents less than $0.005 per share.
(e)
Not annualized for periods less than one year.
(f)
Annualized for periods less than one year.
(g)
Portfolio turnover rate excludes in-kind transactions.
The accompanying notes are an integral part of these financial statements.
 
111
 

TABLE OF CONTENTS

Pacer Swan SOS Moderate January ETF
Financial Highlights
 
 
 
 
 
 
 
 
 
 
 
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Year Ended October 31,
 
 
Period Ended
October 31,
2021(a)
 
2025
 
 
2024
 
 
2023
 
 
2022
 
PER SHARE DATA:
 
 
 
 
 
 
 
 
 
 
 
 
Net asset value, beginning of period
 
 
$31.96
 
 
$28.67
 
 
$23.91
 
 
$21.50
 
 
$22.66
 
 
$20.56
INVESTMENT OPERATIONS:
 
 
 
 
 
 
 
 
 
 
 
 
Net investment loss(b)
 
 
(0.09)
 
 
(0.17)
 
 
(0.17)
 
 
(0.17)
 
 
(0.16)
 
 
(0.14)
Net realized and unrealized gain (loss) on investments(c)
 
 
1.75
 
 
3.46
 
 
4.93
 
 
2.58
 
 
(0.89)
 
 
2.24
Total from investment operations
 
 
1.66
 
 
3.29
 
 
4.76
 
 
2.41
 
 
(1.05)
 
 
2.10
LESS DISTRIBUTIONS FROM:
 
 
 
 
 
 
 
 
 
 
 
 
Net investment income
 
 
—
 
 
—
 
 
—
 
 
—
 
 
(0.11)
 
 
—
Total distributions
 
 
—
 
 
—
 
 
—
 
 
—
 
 
(0.11)
 
 
—
ETF transaction fees per share
 
 
0.00(d)
 
 
0.00(d)
 
 
0.00(d)
 
 
0.00(d)
 
 
0.00(d)
 
 
—
Net asset value, end of period
 
 
$33.62
 
 
$31.96
 
 
$28.67
 
 
$23.91
 
 
$21.50
 
 
$22.66
Total return(e)
 
 
5.18%
 
 
11.46%
 
 
19.93%
 
 
11.21%
 
 
−4.65%
 
 
10.20%
SUPPLEMENTAL DATA AND RATIOS:
 
 
 
 
 
 
 
 
 
 
 
 
Net assets, end of period (in thousands)
 
 
$93,283
 
 
$80,702
 
 
$68,102
 
 
$34,069
 
 
$20,425
 
 
$2,832
Ratio of expenses to average net assets(f)
 
 
0.60%
 
 
0.60%
 
 
0.64%
 
 
0.76%
 
 
0.75%
 
 
0.75%
Ratio of dividends, interest and borrowing expense to average net assets(f)
 
 
—%
 
 
—%
 
 
0.01%
 
 
0.01%
 
 
—%
 
 
—%
Ratio of expenses to average net assets excluding dividends, interest, and borrowing expense(f)
 
 
0.60%
 
 
0.60%
 
 
0.63%
 
 
0.75%
 
 
0.75%
 
 
0.75%
Ratio of net investment income (loss) to average net assets(f)
 
 
(0.58)%
 
 
(0.57)%
 
 
(0.61)%
 
 
(0.73)%
 
 
(0.75)%
 
 
(0.75)%
Portfolio turnover rate(e)(g)
 
 
—%
 
 
—%
 
 
4%
 
 
—%
 
 
48%
 
 
—%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Inception date of the Fund was December 22, 2020.
(b)
Net investment income per share has been calculated based on average shares outstanding during the periods.
(c)
Realized and unrealized gains and losses per share in the caption are balancing amounts necessary to reconcile the change in net asset value per share for the periods and may not reconcile with the aggregate gains and losses in the Statement of Operations due to share transactions for the periods.
(d)
Amount represents less than $0.005 per share.
(e)
Not annualized for periods less than one year.
(f)
Annualized for periods less than one year.
(g)
Portfolio turnover rate excludes in-kind transactions.
The accompanying notes are an integral part of these financial statements.
 
112
 

TABLE OF CONTENTS

Pacer Swan SOS Moderate July ETF
Financial Highlights
 
 
 
 
 
 
 
 
 
 
 
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Year Ended October 31,
 
 
Period Ended
October 31,
2021(a)
 
2025
 
 
2024
 
 
2023
 
 
2022
 
PER SHARE DATA:
 
 
 
 
 
 
 
 
 
 
 
 
Net asset value, beginning of period
 
 
$31.77
 
 
$27.85
 
 
$22.96
 
 
$20.65
 
 
$21.02
 
 
$20.48
INVESTMENT OPERATIONS:
 
 
 
 
 
 
 
 
 
 
 
 
Net investment loss(b)
 
 
(0.09)
 
 
(0.17)
 
 
(0.16)
 
 
(0.16)
 
 
(0.15)
 
 
(0.05)
Net realized and unrealized gain (loss) on investments(c)
 
 
1.58
 
 
4.09
 
 
5.05
 
 
2.47
 
 
(0.22)
 
 
0.59
Total from investment operations
 
 
1.49
 
 
3.92
 
 
4.89
 
 
2.31
 
 
(0.37)
 
 
0.54
LESS DISTRIBUTIONS FROM:
 
 
 
 
 
 
 
 
 
 
 
 
Net investment income
 
 
—
 
 
—
 
 
—
 
 
—
 
 
(0.00)(d)
 
 
—
Total distributions
 
 
—
 
 
—
 
 
—
 
 
—
 
 
(0.00)(d)
 
 
—
ETF transaction fees per share
 
 
0.00(d)
 
 
0.00(d)
 
 
0.00(d)
 
 
0.00(d)
 
 
0.00(d)
 
 
0.00(d)
Net asset value, end of period
 
 
$33.26
 
 
$31.77
 
 
$27.85
 
 
$22.96
 
 
$20.65
 
 
$21.02
Total return(e)
 
 
4.67%
 
 
14.08%
 
 
21.30%
 
 
11.19%
 
 
−1.74%
 
 
2.63%
SUPPLEMENTAL DATA AND RATIOS:
 
 
 
 
 
 
 
 
 
 
 
 
Net assets, end of period (in thousands)
 
 
$88,134
 
 
$92,141
 
 
$78,680
 
 
$41,904
 
 
$33,556
 
 
$17,866
Ratio of expenses to average net assets(f)
 
 
0.60%
 
 
0.60%
 
 
0.65%
 
 
0.76%
 
 
0.76%
 
 
0.75%
Ratio of dividends, interest and borrowing expense to average net assets(f)
 
 
—%
 
 
—%
 
 
0.01%
 
 
0.01%
 
 
—%
 
 
—%
Ratio of expenses to average net assets excluding dividends, interest, and borrowing expense(f)
 
 
0.60%
 
 
0.60%
 
 
0.64%
 
 
0.75%
 
 
0.76%
 
 
0.75%
Ratio of net investment income (loss) to average net assets(f)
 
 
(0.58)%
 
 
(0.58)%
 
 
(0.61)%
 
 
(0.73)%
 
 
(0.75)%
 
 
(0.75)%
Portfolio turnover rate(e)(g)
 
 
—%
 
 
—%
 
 
3%
 
 
—%
 
 
—%
 
 
—%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Inception date of the Fund was June 30, 2021.
(b)
Net investment income per share has been calculated based on average shares outstanding during the periods.
(c)
Realized and unrealized gains and losses per share in the caption are balancing amounts necessary to reconcile the change in net asset value per share for the periods and may not reconcile with the aggregate gains and losses in the Statement of Operations due to share transactions for the periods.
(d)
Amount represents less than $0.005 per share.
(e)
Not annualized for periods less than one year.
(f)
Annualized for periods less than one year.
(g)
Portfolio turnover rate excludes in-kind transactions.
The accompanying notes are an integral part of these financial statements.
 
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Pacer Swan SOS Moderate October ETF
Financial Highlights
 
 
 
 
 
 
 
 
 
 
 
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Year Ended October 31,
 
 
Period Ended
October 31,
2021(a)
 
2025
 
 
2024
 
 
2023
 
 
2022
 
PER SHARE DATA:
 
 
 
 
 
 
 
 
 
 
 
 
Net asset value, beginning of period
 
 
$30.42
 
 
$27.07
 
 
$23.41
 
 
$20.68
 
 
$20.97
 
 
$20.51
INVESTMENT OPERATIONS:
 
 
 
 
 
 
 
 
 
 
 
 
Net investment loss(b)
 
 
(0.09)
 
 
(0.16)
 
 
(0.16)
 
 
(0.16)
 
 
(0.15)
 
 
(0.01)
Net realized and unrealized gain (loss) on investments(c)
 
 
1.49
 
 
3.51
 
 
3.82
 
 
2.89
 
 
(0.14)
 
 
0.47
Total from investment operations
 
 
1.40
 
 
3.35
 
 
3.66
 
 
2.73
 
 
(0.29)
 
 
0.46
ETF transaction fees per share
 
 
0.00(d)
 
 
0.00(d)
 
 
0.00(d)
 
 
0.00(d)
 
 
0.00(d)
 
 
—
Net asset value, end of period
 
 
$31.82
 
 
$30.42
 
 
$27.07
 
 
$23.41
 
 
$20.68
 
 
$20.97
Total return(e)
 
 
4.58%
 
 
12.39%
 
 
15.64%
 
 
13.22%
 
 
−1.40%
 
 
2.24%
SUPPLEMENTAL DATA AND RATIOS:
 
 
 
 
 
 
 
 
 
 
 
 
Net assets, end of period (in thousands)
 
 
$98,637
 
 
$77,584
 
 
$65,649
 
 
$36,864
 
 
$23,261
 
 
$8,912
Ratio of expenses to average net assets(f)
 
 
0.60%
 
 
0.60%
 
 
0.65%
 
 
0.76%
 
 
0.75%
 
 
0.75%
Ratio of dividends, interest and borrowing expense to average net assets(f)
 
 
—%
 
 
—%
 
 
0.00%(g)
 
 
0.01%
 
 
—%
 
 
—%
Ratio of expenses to average net assets excluding dividends, interest, and borrowing expense(f)
 
 
0.60%
 
 
0.60%
 
 
0.65%
 
 
0.75%
 
 
0.75%
 
 
0.75%
Ratio of net investment income (loss) to average net assets(f)
 
 
(0.60)%
 
 
(0.57)%
 
 
(0.62)%
 
 
(0.72)%
 
 
(0.74)%
 
 
(0.75)%
Portfolio turnover rate(e)(h)
 
 
—%
 
 
—%
 
 
—%
 
 
—%
 
 
—%
 
 
—%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Inception date of the Fund was September 30, 2021.
(b)
Net investment income per share has been calculated based on average shares outstanding during the periods.
(c)
Realized and unrealized gains and losses per share in the caption are balancing amounts necessary to reconcile the change in net asset value per share for the periods and may not reconcile with the aggregate gains and losses in the Statement of Operations due to share transactions for the periods.
(d)
Amount represents less than $0.005 per share.
(e)
Not annualized for periods less than one year.
(f)
Annualized for periods less than one year.
(g)
Amount represents less than 0.005%.
(h)
Portfolio turnover rate excludes in-kind transactions.
The accompanying notes are an integral part of these financial statements.
 
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Pacer US Cash Cows Bond ETF
Financial Highlights
 
 
 
 
 
 
 
 
 
 
Period Ended
April 30, 2026
(Unaudited)
 
 
Period Ended
October 31,
2025(a)
PER SHARE DATA:
 
 
 
 
Net asset value, beginning of period
 
 
$25.12
 
 
$24.86
INVESTMENT OPERATIONS:
 
 
 
 
Net investment income(b)
 
 
0.65
 
 
1.18
Net realized and unrealized gain (loss) on investments(c)
 
 
(0.30)
 
 
0.15
Total from investment operations
 
 
0.35
 
 
1.33
LESS DISTRIBUTIONS FROM:
 
 
 
 
Net investment income
 
 
(1.07)
 
 
(1.07)
Total distributions
 
 
(1.07)
 
 
(1.07)
Net asset value, end of period
 
 
$24.40
 
 
$25.12
Total return(d)
 
 
1.42%
 
 
5.54%
SUPPLEMENTAL DATA AND RATIOS:
 
 
 
 
Net assets, end of period (in thousands)
 
 
$16,590
 
 
$7,034
Ratio of expenses to average net assets(e)
 
 
0.49%
 
 
0.49%
Ratio of tax expenses to average net assets(e)
 
 
—%
 
 
0.00%(f)
Ratio of net investment income (loss) to average net assets(e)
 
 
5.36%
 
 
5.51%
Portfolio turnover rate(d)(g)
 
 
6%
 
 
95%
 
 
 
 
 
 
 
(a)
Inception date of the Fund was December 17, 2024.
(b)
Net investment income per share has been calculated based on average shares outstanding during the periods.
(c)
Realized and unrealized gains and losses per share in the caption are balancing amounts necessary to reconcile the change in net asset value per share for the periods and may not reconcile with the aggregate gains and losses in the Statement of Operations due to share transactions for the periods.
(d)
Not annualized for periods less than one year.
(e)
Annualized for periods less than one year.
(f)
Amount represents less than 0.005%.
(g)
Portfolio turnover rate excludes in-kind transactions.
The accompanying notes are an integral part of these financial statements.
 
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Pacer Funds
NOTES TO FINANCIAL STATEMENTS
April 30, 2026 (Unaudited)
NOTE 1 – ORGANIZATION
Pacer Funds Trust (the “Trust”) is a Delaware statutory trust organized on August 12, 2014. PTLC, PTMC, PTNQ, PTEU, PTIN, PTBD, TRND, COWZ, CALF, GCOW, ICOW, ECOW, COWG, CAFG, BUL, HERD, PWS, INDS, SRVR, SZNE, ALTL, PAMC, PALC, PEXL, FLRT, SHPP, TRFK, QQQG, GLBL, PATN and PIEL’s fiscal year ends are April 30th and as such are not included in these financial statements. The Trust is registered with the Securities and Exchange Commission (the “SEC”) under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company and the offering of the Funds’ shares (“Shares”) is registered under the Securities Act of 1933, as amended (the “Securities Act”). The Trust currently consists of multiple operational series, of which are covered in this report, individually the (“Fund”) or collectively the (“Funds”).
 
 
 
 
 
 
 
 
 
 
 
 
 
Fund Name
 
 
Ticker
 
 
Commencement of
Operations
 
 
Exchange
 
 
Transaction
Fees
Pacer ActiveAlpha India Quality ETF
 
 
INDQ
 
 
March 31, 2026
 
 
Nasdaq
 
 
$300
Pacer American Energy Infrastructure ETF*
 
 
USAI
 
 
December 12, 2017
 
 
NYSE
 
 
300
Pacer BlueStar Digital Entertainment ETF
 
 
ODDS
 
 
April 7, 2022
 
 
Nasdaq
 
 
500
Pacer BlueStar Engineering the Future ETF
 
 
BULD
 
 
May 4, 2022
 
 
Nasdaq
 
 
500
Pacer Cash COWZ 100-Nasdaq 100 Rotator ETF
 
 
QQWZ
 
 
May 6, 2025
 
 
Nasdaq
 
 
300
Pacer Developed Markets Cash Cows Growth Leaders ETF
 
 
EAFG
 
 
March 20, 2024
 
 
NYSE
 
 
750
Pacer Metaurus Nasdaq-100 Dividend Multiplier 600 ETF
 
 
QSIX
 
 
September 23, 2024
 
 
Nasdaq
 
 
300
Pacer Metaurus US Large Cap Dividend Multiplier 400 ETF
 
 
QDPL
 
 
July 12, 2021
 
 
NYSE
 
 
300
Pacer PE/VC ETF
 
 
PEVC
 
 
February 3, 2025
 
 
NYSE
 
 
500
Pacer S&P 500 Quality FCF Aristocrats ETF
 
 
LCOW
 
 
May 6, 2025
 
 
Cboe
 
 
300
Pacer S&P 500 Quality FCF High Dividend ETF
 
 
QFHD
 
 
January 12, 2026
 
 
Cboe
 
 
300
Pacer S&P 500 Quality FCF R&D Leaders ETF
 
 
QFRD
 
 
January 12, 2026
 
 
Cboe
 
 
300
Pacer S&P MidCap 400 Quality FCF Aristocrats ETF
 
 
MCOW
 
 
August 27, 2025
 
 
Cboe
 
 
300
Pacer S&P SmallCap 600 Quality FCF Aristocrats ETF
 
 
SCOW
 
 
August 27, 2025
 
 
Cboe
 
 
300
Pacer Solactive Whitney Future of Warfare ETF
 
 
FOWF
 
 
December 17, 2024
 
 
Cboe
 
 
500
Pacer Swan SOS Conservative (April) ETF
 
 
PSCW
 
 
March 31, 2021
 
 
Cboe
 
 
300
Pacer Swan SOS Conservative (January) ETF
 
 
PSCX
 
 
December 22, 2020
 
 
Cboe
 
 
300
Pacer Swan SOS Conservative (July) ETF
 
 
PSCJ
 
 
June 30, 2021
 
 
Cboe
 
 
300
Pacer Swan SOS Conservative (October) ETF
 
 
PSCQ
 
 
September 30, 2021
 
 
Cboe
 
 
300
Pacer Swan SOS Flex (April) ETF
 
 
PSFM
 
 
March 31, 2021
 
 
Cboe
 
 
300
Pacer Swan SOS Flex (January) ETF
 
 
PSFD
 
 
December 22, 2020
 
 
Cboe
 
 
300
Pacer Swan SOS Flex (July) ETF
 
 
PSFJ
 
 
June 30, 2021
 
 
Cboe
 
 
300
Pacer Swan SOS Flex (October) ETF
 
 
PSFO
 
 
September 30, 2021
 
 
Cboe
 
 
300
Pacer Swan SOS Fund of Funds ETF
 
 
PSFF
 
 
December 29, 2020
 
 
Cboe
 
 
300
Pacer Swan SOS Moderate (April) ETF
 
 
PSMR
 
 
March 31, 2021
 
 
Cboe
 
 
300
Pacer Swan SOS Moderate (January) ETF
 
 
PSMD
 
 
December 22, 2020
 
 
Cboe
 
 
300
Pacer Swan SOS Moderate (July) ETF
 
 
PSMJ
 
 
June 30, 2021
 
 
Cboe
 
 
300
Pacer Swan SOS Moderate (October) ETF
 
 
PSMO
 
 
September 30, 2021
 
 
Cboe
 
 
300
Pacer US Cash Cows Bond ETF
 
 
MILK
 
 
December 17, 2024
 
 
Cboe
 
 
300
 
 
 
 
 
 
 
 
 
 
 
 
 
*
Effective 2/28/2026, the Fund changed its name from Pacer American Energy Independence ETF to Pacer American Energy Infrastructure ETF. Changes were made to the Fund’s investment objectives, principal investment strategies, and principal risks as a result of this name change and are outlined in the Fund’s Prospectus and SAI.
Each Fund (other than QDPL) is classified as a non-diversified series of the Trust.
 
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Pacer Funds
NOTES TO FINANCIAL STATEMENTS
April 30, 2026 (Unaudited)(Continued)
The investment objective of the following Funds is to track the performance, before fees and expenses, of the
 
 
 
 
Ticker
 
 
Index
INDQ
 
 
ActiveAlpha India Quality Index
USAI
 
 
American Energy Infrastructure Index*
ODDS
 
 
BlueStar Global Online Gambling, Video Gaming, and eSports Index
BULD
 
 
BlueStar Robotics and 3D Printing Index
QQWZ
 
 
Pacer COWZ NDX Rotator Index
EAFG
 
 
Pacer Developed Markets Cash Cows Growth Leaders Index
QSIX
 
 
Metaurus Nasdaq-100 Dividend Multiplier Total Return Index - Series 600
QDPL
 
 
Metaurus US Large Cap Dividend Multiplier Index – Series 400
PEVC
 
 
FTSE PE/VC Index
LCOW
 
 
S&P 500 Quality FCF Aristocrats Index
QFHD
 
 
S&P 500 Quality FCF High Dividend Index
QFRD
 
 
S&P 500 Quality FCF R&D Leaders Index
MCOW
 
 
S&P MidCap 400 Quality FCF Aristocrats Index
SCOW
 
 
S&P SmallCap 600 Quality FCF Aristocrats Index
FOWF
 
 
Solactive Whitney Future of Warfare Index
MILK
 
 
Solactive Pacer US Cash Cows Bond Index
 
 
 
 
*
Effective 2/28/2026, as a result of the Fund’s name change, the Fund changed its tracking index from American Energy Independence Index to American Energy Infrastructure Index.
The investment objective of the following Funds is to seek
 
 
 
 
Ticker
 
 
Objective
PSCW
 
 
to provide investors with returns that, before fees and expenses of the Fund, match those of the SPDR® S&P 500® ETF Trust (the “Underlying ETF”) up to a predetermined upside cap of 13.08% (before fees and expenses of the Fund) and 12.48% (after fees and expenses of the Fund), while providing a buffer against Underlying ETF losses between 5% and 30% over the period from April 1, 2026 to March 31, 2027.
PSCX
 
 
to provide investors with returns that, before fees and expenses of the Fund, match those of the SPDR® S&P 500® ETF Trust (the “Underlying ETF”) up to a predetermined upside cap of 11.97% (before fees and expenses of the Fund) and 11.36% (after fees and expenses of the Fund), while providing a buffer against Underlying ETF losses between 5% and 30% over the period from January 2, 2026 to December 31, 2026.
PSCJ
 
 
to provide investors with returns that, before fees and expenses of the Fund, match those of the SPDR® S&P 500® ETF Trust (the “Underlying ETF”) up to a predetermined upside cap of 12.23% (before fees and expenses of the Fund) and 11.62% (after fees and expenses of the Fund), while providing a buffer against Underlying ETF losses between 5% and 30% over the period from July 1, 2025 to June 30, 2026.
PSCQ
 
 
to provide investors with returns that, before fees and expenses of the Fund, match those of the SPDR® S&P 500® ETF Trust (the “Underlying ETF”) up to a predetermined upside cap of 11.61% (before fees and expenses of the Fund) and 11.00% (after fees and expenses of the Fund), while providing a buffer against Underlying ETF losses between 5% and 30% over the period from October 1, 2025 to September 30, 2026.
PSFM
 
 
to provide investors with returns that match those of the SPDR® S&P 500® ETF Trust (the “Underlying ETF”) up to a predetermined upside cap of 16.17% (before fees and expenses of the Fund) and 15.57% (after fees and expenses of the Fund), while providing a buffer against the first 20% of Underlying ETF losses with the benefits of such buffer declining from 20% to 0% for Underlying ETF losses between 20% and 40%, over the period from April 1, 2026 to March 31, 2027.
 
 
 
 
 
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Pacer Funds
NOTES TO FINANCIAL STATEMENTS
April 30, 2026 (Unaudited)(Continued)
 
 
 
 
Ticker
 
 
Objective
PSFD
 
 
provide investors with returns that match those of the SPDR® S&P 500® ETF Trust (the “Underlying ETF”) up to a predetermined upside cap of 14.30% (before fees and expenses of the Fund) and 13.69% (after fees and expenses of the Fund), while providing a buffer against the first 20% of Underlying ETF losses with the benefits of such buffer declining from 20% to 0% for Underlying ETF losses between 20% and 40%, over the period from January 2, 2026 to December 31, 2026.
PSFJ
 
 
to provide investors with returns that match those of the SPDR® S&P 500® ETF Trust (the “Underlying ETF”) up to a predetermined upside cap of 14.10% (before fees and expenses of the Fund) and 13.49% (after fees and expenses of the Fund), while providing a buffer against the first 20% of Underlying ETF losses with the benefits of such buffer declining from 20% to 0% for Underlying ETF losses between 20% and 40%, over the period from July 1, 2025 to June 30, 2026.
PSFO
 
 
to provide investors with returns that match those of the SPDR® S&P 500® ETF Trust (the “Underlying ETF”) up to a predetermined upside cap of 13.73% (before fees and expenses of the Fund) and 13.12% (after fees and expenses of the Fund), while providing a buffer against the first 20% of Underlying ETF losses with the benefits of such buffer declining from 20% to 0% for Underlying ETF losses between 20% and 40%, over the period from October 1, 2025 to September 30, 2026.
PSFF
 
 
capital appreciation with downside protection.
PSMR
 
 
to provide investors with returns that, before fees and expenses of the Fund, match those of the SPDR® S&P 500® ETF Trust (“the Underlying ETF”) up to a predetermined upside cap of 13.77% (before fees and expenses of the Fund) and 13.17% (after fees and expenses of the Fund), while providing a buffer against the first 15% of Underlying ETF losses, over the period from April 1, 2026 to March 31, 2027.
PSMD
 
 
to provide investors with returns that, before fees and expenses of the Fund, match those of the SPDR® S&P 500® ETF Trust (“the Underlying ETF”) up to a predetermined upside cap of 12.15% (before fees and expenses of the Fund) and 11.54% (after fees and expenses of the Fund), while providing a buffer against the first 15% of Underlying ETF losses, over the period from January 2, 2026 to December 31, 2026.
PSMJ
 
 
to provide investors with returns that, before fees and expenses of the Fund, match those of the SPDR® S&P 500® ETF Trust (“the Underlying ETF”) up to a predetermined upside cap of 12.20% (before fees and expenses of the Fund) and 11.59% (after fees and expenses of the Fund), while providing a buffer against the first 15% of Underlying ETF losses, over the period from July 1, 2025 to June 30, 2026.
PSMO
 
 
to provide investors with returns that, before fees and expenses of the Fund, match those of the SPDR® S&P 500® ETF Trust (“the Underlying ETF”) up to a predetermined upside cap of 11.84% (before fees and expenses of the Fund) and 11.24% (after fees and expenses of the Fund), while providing a buffer against the first 15% of Underlying ETF losses, over the period from October 1, 2025 to September 30, 2026.
 
 
 
 
Market prices for the shares may be different from their net asset value (“NAV”). The Funds issue and redeem shares on a continuous basis at NAV only in large blocks of shares, called “Creation Units,” which generally consist of 25,000 shares except USAI and QSIX which generally consist of 50,000 shares, PEVC and MILK which consists of 40,000 shares, QDPL which consists of 30,000 shares, along with INDQ, ODDS, BULD, QFHD and QFRD which generally consist of 20,000 shares. Creation Units are issued and redeemed principally in-kind for securities included in a specified universe. Once created, Shares generally trade in the secondary market at market prices that change throughout the day in amounts less than a Creation Unit. Except when aggregated in Creation Units, Shares are not redeemable securities of a Fund. Shares of a Fund may only be purchased directly from or redeemed directly to a Fund by certain financial institutions (“Authorized Participants”). An Authorized Participant is either (i) a broker-dealer or other participant in the clearing process through the Continuous Net Settlement System of the National Securities Clearing Corporation or (ii) a DTC participant and, in each case, must have executed a Participant Agreement with Pacer Financial, Inc. (the “Distributor”). Most retail investors do not qualify as Authorized Participants nor have the resources to buy and sell whole Creation Units. Therefore, they are unable to purchase or redeem the shares directly from a Fund. Rather, most retail investors may purchase Shares in the secondary market with the assistance of a broker and are subject to customary brokerage commissions or fees. The Funds currently offer one class of Shares, which have
 
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Pacer Funds
NOTES TO FINANCIAL STATEMENTS
April 30, 2026 (Unaudited)(Continued)
no front-end sales load, no deferred sales charge, and no redemption fee. A purchase (i.e., creation) transaction fee is imposed for the transfer and other transaction costs associated with the purchase of Creation Units. Each Fund charges $300 for the standard fixed creation fee, payable to the Custodian except ODDS, BULD, PEVC and FOWF which charges $500 and EAFG which charges $750. The fixed transaction fee may be waived on certain orders if the Funds’ Custodian has determined to waive some or all of the costs associated with the order, or another party, such as the Adviser, has agreed to pay such fee. A variable fee, payable to a Fund, of up to a maximum of 2% of the value of the Creation Units subject to the transaction may be imposed for cash purchases, non-standard orders, or partial cash purchases of Creation Units. The variable charge is primarily designed to cover additional costs (e.g., brokerage, taxes) involved with buying the securities with cash. In regards to PSCW, PSCX, PSCJ, PSCQ, PSFM, PSFD, PSFJ, PSFO, PSFF, PSMR, PSMD, PSMJ and PSMO for orders comprised entirely of cash, a variable fee of 0.01% of the value of the order will be charged by a Fund. For orders partially comprised of cash in lieu of certain Deposit Securities, a variable fee of 0.01% of the value of such cash in lieu of Deposit Securities will be charged by a Fund. A Fund may determine to not charge a variable fee on certain orders when the Adviser has determined that doing so is in the best interests of Fund shareholders (e.g., for creation orders that facilitate changes to the Fund’s portfolio in a more tax efficient manner than could be achieved without such order). Investors who use the services of a broker or other such intermediary may be charged a fee for such services. Investors are responsible for the fixed costs of transferring the Fund Securities from the Fund to their account or on their order. Variable fees received by the Funds, if any, are displayed in the Capital Shares Transactions section of the Statements of Changes in Net Assets. Each Fund may issue an unlimited number of shares of beneficial interest, with no par value. Shares of each Fund have equal rights and privileges to such Fund.
NOTE 2 – SIGNIFICANT ACCOUNTING POLICIES
In accordance with the Financial Accounting Standards Board Accounting Standards Update (ASU) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, the Chief Financial Officer acts as the Funds’ Chief Operating Decision Maker (“CODM”) and is responsible for assessing performance and allocating resources with respect to each Fund. The CODM has concluded that each Fund operates as a single operating segment since the Funds have a single investment strategy as disclosed in their prospectus, against which the CODM assesses performance. The financial information provided to and reviewed by the CODM is presented within the Funds’ financial statements.
The following is a summary of significant accounting policies consistently followed by the Funds in the preparation of the financial statements. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). The Funds are investment companies that follow the accounting and reporting guidelines of Accounting Standards Codification Topic 946 applicable to investment companies.
Securities, including master limited partnerships (“MLPs”), listed on a securities exchange, market or automated quotation system for which quotations are readily available, are valued at the last quoted sale price on the primary exchange or market (foreign or domestic) on which they are traded, except for securities listed on Nasdaq Global Market (“Nasdaq”). If, on a particular day, there is no such reported sale, then the most recent quoted bid price will be used. For securities traded on Nasdaq, the Nasdaq Official Closing Price (“NOCP”) will be used. If a Fund holds foreign shares of a security for which there is no reported volume, and there is an actively trading local version of the security, the last quoted sale price of the local security shall be used. Prices denominated in foreign currencies are converted to U.S. dollar equivalents at the current exchange rate.
Investments in other open-end investment companies, including money market funds, are valued at the investment company’s net asset value per share, with the exception of exchange-traded open-end investment companies, which are priced as equity securities described above.
Fixed-income securities are normally valued on the basis of quotes obtained from independent pricing services in accordance with procedures adopted by the Board of Trustees. The independent pricing services may employ methodologies that utilize market transactions (if the security is actively traded), broker-dealer supplied valuations, or matrix pricing. Short-term securities that have maturities of less than 60 days, at the time of purchase, are valued at amortized cost, which, when combined with accrued interest, approximates market value.
 
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NOTES TO FINANCIAL STATEMENTS
April 30, 2026 (Unaudited)(Continued)
Options on securities that are listed on an exchange shall be valued at the sale price on such exchange (or any other exchange on which such options are listed) having the trade closest to the close of the New York Stock Exchange (“NYSE”) on the day of valuation or, if there was no sale on any of the applicable options exchanges on such day, at the mean between the highest bid and lowest ask price on any of such exchanges on such day closest to the close of the NYSE on such day. On the last trading day prior to expiration, expiring options may be priced at intrinsic value.
Foreign currency forward contracts are valued at the current day’s interpolated foreign exchange rate, as calculated using the current day’s spot rate, and the twenty, sixty, ninety, and one-hundred eighty day forward rates provided by an independent source.
Futures contracts are valued at the settlement price on the exchange on which they are principally traded.
Units of Mount Vernon Liquid Assets Portfolio are not traded on an exchange and are valued at the investment company’s NAV per share as provided by its administrator.
The Trust’s Valuation Procedures provide for the designation of the Adviser as “Valuation Designee”. If no quotation is available from either a pricing service, or one or more brokers or there is reason to question the reliability or accuracy of a quotation supplied, securities are valued at fair value as determined in good faith, by the Valuation Designee pursuant to procedures established by the Funds’ Board of Trustees (the “Board”).As described above, the Funds utilize various methods to measure the fair value of their investments on a recurring basis. GAAP establishes a hierarchy that prioritizes inputs to valuations methods. The three levels of inputs are:
Level 1 –
Unadjusted quoted prices in active markets for identical assets or liabilities that the Funds have the ability to access.
Level 2 –
Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.
Level 3 –
Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available; representing the Funds’ own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available.
The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3.
The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety, is determined based on the lowest level input that is significant to the fair value measurement in its entirety.
The following is a summary of the inputs used to value the Funds’ investments as of April 30, 2026:
INDQ
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Investments:
 
 
 
 
 
 
 
 
Common Stocks
 
 
$1,056,465
 
 
$—
 
 
$—
 
 
$1,056,465
Total Investments
 
 
$1,056,465
 
 
$—
 
 
$—
 
 
$1,056,465
 
 
 
 
 
 
 
 
 
 
 
 
 
Refer to the Schedule of Investments for further disaggregation of investment categories.
 
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Pacer Funds
NOTES TO FINANCIAL STATEMENTS
April 30, 2026 (Unaudited)(Continued)
USAI
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Investments:
 
 
 
 
 
 
 
 
Common Stocks
 
 
$108,823,472
 
 
$—
 
 
$—
 
 
$108,823,472
Investments Purchased with Proceeds from Securities Lending(a)
 
 
—
 
 
—
 
 
—
 
 
14,616,236
Total Investments
 
 
$108,823,472
 
 
$—
 
 
$—
 
 
$123,439,708
 
 
 
 
 
 
 
 
 
 
 
 
 
Refer to the Schedule of Investments for further disaggregation of investment categories.
(a)
Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amount of $14,616,236 presented in the table is intended to permit reconciliation of the fair value hierarchy to the amounts listed in the Schedule of Investments.
ODDS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Investments:
 
 
 
 
 
 
 
 
Common Stocks
 
 
$3,922,685
 
 
$—
 
 
$—
 
 
$3,922,685
Investments Purchased with Proceeds from Securities Lending(a)
 
 
—
 
 
—
 
 
—
 
 
59,009
Total Investments
 
 
$3,922,685
 
 
$—
 
 
$—
 
 
$3,981,694
 
 
 
 
 
 
 
 
 
 
 
 
 
Refer to the Schedule of Investments for further disaggregation of investment categories.
(a)
Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amount of $59,009 presented in the table is intended to permit reconciliation of the fair value hierarchy to the amounts listed in the Schedule of Investments.
BULD
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Investments:
 
 
 
 
 
 
 
 
Common Stocks
 
 
$4,876,698
 
 
$—
 
 
$—
 
 
$4,876,698
Investments Purchased with Proceeds from Securities Lending(a)
 
 
—
 
 
—
 
 
—
 
 
267,361
Total Investments
 
 
$4,876,698
 
 
$—
 
 
$—
 
 
$5,144,059
 
 
 
 
 
 
 
 
 
 
 
 
 
Refer to the Schedule of Investments for further disaggregation of investment categories.
(a)
Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amount of $267,361 presented in the table is intended to permit reconciliation of the fair value hierarchy to the amounts listed in the Schedule of Investments.
QQWZ
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Investments:
 
 
 
 
 
 
 
 
Common Stocks
 
 
$30,439,080
 
 
$—
 
 
$—
 
 
$30,439,080
Total Investments
 
 
$30,439,080
 
 
$—
 
 
$—
 
 
$30,439,080
 
 
 
 
 
 
 
 
 
 
 
 
 
Refer to the Schedule of Investments for further disaggregation of investment categories.
 
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Pacer Funds
NOTES TO FINANCIAL STATEMENTS
April 30, 2026 (Unaudited)(Continued)
EAFG
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Investments:
 
 
 
 
 
 
 
 
Common Stocks
 
 
$2,532,930
 
 
$—
 
 
$—
 
 
$2,532,930
Total Investments
 
 
$2,532,930
 
 
$—
 
 
$—
 
 
$2,532,930
 
 
 
 
 
 
 
 
 
 
 
 
 
Refer to the Schedule of Investments for further disaggregation of investment categories.
QSIX
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets:
 
 
 
 
 
 
 
 
Investments:
 
 
 
 
 
 
 
 
Common Stocks
 
 
$16,396,502
 
 
$—
 
 
$—
 
 
$16,396,502
Investments Purchased with Proceeds from Securities Lending(a)
 
 
—
 
 
—
 
 
—
 
 
331,166
Total Investments
 
 
$16,396,502
 
 
$—
 
 
$—
 
 
$16,727,668
Other Financial Instruments:
 
 
 
 
 
 
 
 
Futures Contracts*
 
 
$5,841
 
 
$—
 
 
$—
 
 
$5,841
Total Other Financial Instruments
 
 
$5,841
 
 
$—
 
 
$—
 
 
$5,841
Liabilities:
 
 
 
 
 
 
 
 
Other Financial Instruments:
 
 
 
 
 
 
 
 
Futures Contracts*
 
 
$(11,572)
 
 
$—
 
 
$—
 
 
$(11,572)
Total Other Financial Instruments
 
 
$(11,572)
 
 
$—
 
 
$—
 
 
$(11,572)
 
 
 
 
 
 
 
 
 
 
 
 
 
*
The fair value of the Fund’s investment represents the unrealized appreciation (depreciation) as of April 30, 2026.
Refer to the Schedule of Investments for further disaggregation of investment categories.
(a)
Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amount of $331,166 presented in the table is intended to permit reconciliation of the fair value hierarchy to the amounts listed in the Schedule of Investments.
QDPL
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Investments:
 
 
 
 
 
 
 
 
Common Stocks
 
 
$1,382,205,109
 
 
$—
 
 
$—
 
 
$1,382,205,109
U.S. Treasury Securities
 
 
—
 
 
136,503,028
 
 
—
 
 
136,503,028
Real Estate Investment Trusts
 
 
25,741,271
 
 
—
 
 
—
 
 
25,741,271
Rights
 
 
—
 
 
—
 
 
0
 
 
0
Investments Purchased with Proceeds from Securities Lending(a)
 
 
—
 
 
—
 
 
—
 
 
17,677,045
Total Investments
 
 
$1,407,946,380
 
 
$136,503,028
 
 
$0
 
 
$1,562,126,453
Other Financial Instruments:
 
 
 
 
 
 
 
 
Futures Contracts*
 
 
$8,368,582
 
 
$—
 
 
$—
 
 
$8,368,582
Total Other Financial Instruments
 
 
$8,368,582
 
 
$—
 
 
$—
 
 
$8,368,582
 
 
 
 
 
 
 
 
 
 
 
 
 
*
The fair value of the Fund’s investment represents the unrealized appreciation (depreciation) as of April 30, 2026.
Refer to the Schedule of Investments for further disaggregation of investment categories.
(a)
Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amount of $17,677,045 presented in the table is intended to permit reconciliation of the fair value hierarchy to the amounts listed in the Schedule of Investments.
 
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Pacer Funds
NOTES TO FINANCIAL STATEMENTS
April 30, 2026 (Unaudited)(Continued)
 
 
 
 
Fair Value Measurement Using Significant Unobservable Inputs
 
 
Level 3
Beginning balance as of October 31, 2025
 
 
$0
Ending balance as of April 30, 2026
 
 
$0
Change in unrealized appreciation/depreciation still held as of April 30, 2026
 
 
$0
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Fair Value as of
April 30, 2026
 
 
Valuation
Technique
 
 
Unobservable
Inputs
 
 
Input Values
(Ranges)
Rights
 
 
$0
 
 
​Implied Price
 
 
​Corporate Action
 
 
​$0 USD
 
 
$0
 
 
​
 
 
​
 
 
​
 
 
 
 
 
 
 
 
 
 
 
 
 
PEVC
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets:
 
 
 
 
 
 
 
 
Investments:
 
 
 
 
 
 
 
 
Common Stocks
 
 
$2,060,098
 
 
$—
 
 
$—
 
 
$2,060,098
Real Estate Investment Trusts
 
 
6,025
 
 
—
 
 
—
 
 
6,025
Total Investments
 
 
$2,066,123
 
 
$—
 
 
$—
 
 
$2,066,123
Other Financial Instruments:
 
 
 
 
 
 
 
 
Total Return Swaps*
 
 
$—
 
 
$55,921
 
 
$—
 
 
$55,921
Total Other Financial Instruments
 
 
$—
 
 
$55,921
 
 
$—
 
 
$55,921
Liabilities:
 
 
 
 
 
 
 
 
Other Financial Instruments:
 
 
 
 
 
 
 
 
Total Return Swaps*
 
 
$—
 
 
$(8,739)
 
 
$—
 
 
$(8,739)
Total Other Financial Instruments
 
 
$—
 
 
$(8,739)
 
 
$—
 
 
$(8,739)
 
 
 
 
 
 
 
 
 
 
 
 
 
*
The fair value of the Fund’s investment represents the unrealized appreciation (depreciation) as of April 30, 2026.
Refer to the Schedule of Investments for further disaggregation of investment categories.
LCOW
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Investments:
 
 
 
 
 
 
 
 
Common Stocks
 
 
$22,965,573
 
 
$—
 
 
$—
 
 
$22,965,573
Total Investments
 
 
$22,965,573
 
 
$—
 
 
$—
 
 
$22,965,573
 
 
 
 
 
 
 
 
 
 
 
 
 
Refer to the Schedule of Investments for further disaggregation of investment categories.
QFHD
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Investments:
 
 
 
 
 
 
 
 
Common Stocks
 
 
$530,155
 
 
$—
 
 
$—
 
 
$530,155
Total Investments
 
 
$530,155
 
 
$—
 
 
$—
 
 
$530,155
 
 
 
 
 
 
 
 
 
 
 
 
 
Refer to the Schedule of Investments for further disaggregation of investment categories.
 
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Pacer Funds
NOTES TO FINANCIAL STATEMENTS
April 30, 2026 (Unaudited)(Continued)
QFRD
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Investments:
 
 
 
 
 
 
 
 
Common Stocks
 
 
$1,010,309
 
 
$—
 
 
$—
 
 
$1,010,309
Total Investments
 
 
$1,010,309
 
 
$—
 
 
$—
 
 
$1,010,309
 
 
 
 
 
 
 
 
 
 
 
 
 
Refer to the Schedule of Investments for further disaggregation of investment categories.
MCOW
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Investments:
 
 
 
 
 
 
 
 
Common Stocks
 
 
$984,382
 
 
$—
 
 
$—
 
 
$984,382
Total Investments
 
 
$984,382
 
 
$—
 
 
$—
 
 
$984,382
 
 
 
 
 
 
 
 
 
 
 
 
 
Refer to the Schedule of Investments for further disaggregation of investment categories.
SCOW
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Investments:
 
 
 
 
 
 
 
 
Common Stocks
 
 
$1,542,788
 
 
$—
 
 
$—
 
 
$1,542,788
Total Investments
 
 
$1,542,788
 
 
$—
 
 
$—
 
 
$1,542,788
 
 
 
 
 
 
 
 
 
 
 
 
 
Refer to the Schedule of Investments for further disaggregation of investment categories.
FOWF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Investments:
 
 
 
 
 
 
 
 
Common Stocks
 
 
$14,776,211
 
 
$—
 
 
$—
 
 
$14,776,211
Total Investments
 
 
$14,776,211
 
 
$—
 
 
$—
 
 
$14,776,211
 
 
 
 
 
 
 
 
 
 
 
 
 
Refer to the Schedule of Investments for further disaggregation of investment categories.
PSCW
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets:
 
 
 
 
 
 
 
 
Investments:
 
 
 
 
 
 
 
 
Purchased Options
 
 
$—
 
 
$65,245,987
 
 
$—
 
 
$65,245,987
Total Investments
 
 
$—
 
 
$65,245,987
 
 
$—
 
 
$65,245,987
Liabilities:
 
 
 
 
 
 
 
 
Investments:
 
 
 
 
 
 
 
 
Written Options
 
 
$—
 
 
$(4,932,065)
 
 
$—
 
 
$(4,932,065)
Total Investments
 
 
$—
 
 
$(4,932,065)
 
 
$—
 
 
$(4,932,065)
 
 
 
 
 
 
 
 
 
 
 
 
 
Refer to the Schedule of Investments for further disaggregation of investment categories.
 
124
 

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Pacer Funds
NOTES TO FINANCIAL STATEMENTS
April 30, 2026 (Unaudited)(Continued)
PSCX
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets:
 
 
 
 
 
 
 
 
Investments:
 
 
 
 
 
 
 
 
Purchased Options
 
 
$—
 
 
$48,034,396
 
 
$—
 
 
$48,034,396
Total Investments
 
 
$—
 
 
$48,034,396
 
 
$—
 
 
$48,034,396
Liabilities:
 
 
 
 
 
 
 
 
Investments:
 
 
 
 
 
 
 
 
Written Options
 
 
$—
 
 
$(1,803,712)
 
 
$—
 
 
$(1,803,712)
Total Investments
 
 
$—
 
 
$(1,803,712)
 
 
$—
 
 
$(1,803,712)
 
 
 
 
 
 
 
 
 
 
 
 
 
Refer to the Schedule of Investments for further disaggregation of investment categories.
PSCJ
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets:
 
 
 
 
 
 
 
 
Investments:
 
 
 
 
 
 
 
 
Purchased Options
 
 
$—
 
 
$43,369,332
 
 
$—
 
 
$43,369,332
Total Investments
 
 
$—
 
 
$43,369,332
 
 
$—
 
 
$43,369,332
Liabilities:
 
 
 
 
 
 
 
 
Investments:
 
 
 
 
 
 
 
 
Written Options
 
 
$—
 
 
$(2,302,702)
 
 
$—
 
 
$(2,302,702)
Total Investments
 
 
$—
 
 
$(2,302,702)
 
 
$—
 
 
$(2,302,702)
 
 
 
 
 
 
 
 
 
 
 
 
 
Refer to the Schedule of Investments for further disaggregation of investment categories.
PSCQ
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets:
 
 
 
 
 
 
 
 
Investments:
 
 
 
 
 
 
 
 
Purchased Options
 
 
$—
 
 
$48,764,456
 
 
$—
 
 
$48,764,456
Total Investments
 
 
$—
 
 
$48,764,456
 
 
$—
 
 
$48,764,456
Liabilities:
 
 
 
 
 
 
 
 
Investments:
 
 
 
 
 
 
 
 
Written Options
 
 
$—
 
 
$(1,537,650)
 
 
$—
 
 
$(1,537,650)
Total Investments
 
 
$—
 
 
$(1,537,650)
 
 
$—
 
 
$(1,537,650)
 
 
 
 
 
 
 
 
 
 
 
 
 
Refer to the Schedule of Investments for further disaggregation of investment categories.
 
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Pacer Funds
NOTES TO FINANCIAL STATEMENTS
April 30, 2026 (Unaudited)(Continued)
PSFM
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets:
 
 
 
 
 
 
 
 
Investments:
 
 
 
 
 
 
 
 
Purchased Options
 
 
$—
 
 
$23,878,154
 
 
$—
 
 
$23,878,154
Total Investments
 
 
$—
 
 
$23,878,154
 
 
$—
 
 
$23,878,154
Liabilities:
 
 
 
 
 
 
 
 
Investments:
 
 
 
 
 
 
 
 
Written Options
 
 
$—
 
 
$(1,774,275)
 
 
$—
 
 
$(1,774,275)
Total Investments
 
 
$—
 
 
$(1,774,275)
 
 
$—
 
 
$(1,774,275)
 
 
 
 
 
 
 
 
 
 
 
 
 
Refer to the Schedule of Investments for further disaggregation of investment categories.
PSFD
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets:
 
 
 
 
 
 
 
 
Investments:
 
 
 
 
 
 
 
 
Purchased Options
 
 
$—
 
 
$60,619,059
 
 
$—
 
 
$60,619,059
Total Investments
 
 
$—
 
 
$60,619,059
 
 
$—
 
 
$60,619,059
Liabilities:
 
 
 
 
 
 
 
 
Investments:
 
 
 
 
 
 
 
 
Written Options
 
 
$—
 
 
$(2,549,509)
 
 
$—
 
 
$(2,549,509)
Total Investments
 
 
$—
 
 
$(2,549,509)
 
 
$—
 
 
$(2,549,509)
 
 
 
 
 
 
 
 
 
 
 
 
 
Refer to the Schedule of Investments for further disaggregation of investment categories.
PSFJ
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets:
 
 
 
 
 
 
 
 
Investments:
 
 
 
 
 
 
 
 
Purchased Options
 
 
$—
 
 
$35,792,218
 
 
$—
 
 
$35,792,218
Total Investments
 
 
$—
 
 
$35,792,218
 
 
$—
 
 
$35,792,218
Liabilities:
 
 
 
 
 
 
 
 
Investments:
 
 
 
 
 
 
 
 
Written Options
 
 
$—
 
 
$(1,483,360)
 
 
$—
 
 
$(1,483,360)
Total Investments
 
 
$—
 
 
$(1,483,360)
 
 
$—
 
 
$(1,483,360)
 
 
 
 
 
 
 
 
 
 
 
 
 
Refer to the Schedule of Investments for further disaggregation of investment categories.
 
126
 

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Pacer Funds
NOTES TO FINANCIAL STATEMENTS
April 30, 2026 (Unaudited)(Continued)
PSFO
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets:
 
 
 
 
 
 
 
 
Investments:
 
 
 
 
 
 
 
 
Purchased Options
 
 
$—
 
 
$45,802,316
 
 
$—
 
 
$45,802,316
Total Investments
 
 
$—
 
 
$45,802,316
 
 
$—
 
 
$45,802,316
Liabilities:
 
 
 
 
 
 
 
 
Investments:
 
 
 
 
 
 
 
 
Written Options
 
 
$—
 
 
$(1,336,130)
 
 
$—
 
 
$(1,336,130)
Total Investments
 
 
$—
 
 
$(1,336,130)
 
 
$—
 
 
$(1,336,130)
 
 
 
 
 
 
 
 
 
 
 
 
 
Refer to the Schedule of Investments for further disaggregation of investment categories.
PSFF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Investments:
 
 
 
 
 
 
 
 
Affiliated Exchange Traded Funds
 
 
$564,990,012
 
 
$—
 
 
$—
 
 
$564,990,012
Total Investments
 
 
$564,990,012
 
 
$—
 
 
$—
 
 
$564,990,012
 
 
 
 
 
 
 
 
 
 
 
 
 
Refer to the Schedule of Investments for further disaggregation of investment categories.
PSMR
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets:
 
 
 
 
 
 
 
 
Investments:
 
 
 
 
 
 
 
 
Purchased Options
 
 
$—
 
 
$93,290,503
 
 
$—
 
 
$93,290,503
Total Investments
 
 
$—
 
 
$93,290,503
 
 
$—
 
 
$93,290,503
Liabilities:
 
 
 
 
 
 
 
 
Investments:
 
 
 
 
 
 
 
 
Written Options
 
 
$—
 
 
$(7,369,777)
 
 
$—
 
 
$(7,369,777)
Total Investments
 
 
$—
 
 
$(7,369,777)
 
 
$—
 
 
$(7,369,777)
 
 
 
 
 
 
 
 
 
 
 
 
 
Refer to the Schedule of Investments for further disaggregation of investment categories.
PSMD
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets:
 
 
 
 
 
 
 
 
Investments:
 
 
 
 
 
 
 
 
Purchased Options
 
 
$—
 
 
$97,127,400
 
 
$—
 
 
$97,127,400
Total Investments
 
 
$—
 
 
$97,127,400
 
 
$—
 
 
$97,127,400
Liabilities:
 
 
 
 
 
 
 
 
Investments:
 
 
 
 
 
 
 
 
Written Options
 
 
$—
 
 
$(4,280,922)
 
 
$—
 
 
$(4,280,922)
Total Investments
 
 
$—
 
 
$(4,280,922)
 
 
$—
 
 
$(4,280,922)
 
 
 
 
 
 
 
 
 
 
 
 
 
Refer to the Schedule of Investments for further disaggregation of investment categories.
 
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Pacer Funds
NOTES TO FINANCIAL STATEMENTS
April 30, 2026 (Unaudited)(Continued)
PSMJ
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets:
 
 
 
 
 
 
 
 
Investments:
 
 
 
 
 
 
 
 
Purchased Options
 
 
$—
 
 
$92,673,464
 
 
$—
 
 
$92,673,464
Total Investments
 
 
$—
 
 
$92,673,464
 
 
$—
 
 
$92,673,464
Liabilities:
 
 
 
 
 
 
 
 
Investments:
 
 
 
 
 
 
 
 
Written Options
 
 
$—
 
 
$(4,986,527)
 
 
$—
 
 
$(4,986,527)
Total Investments
 
 
$—
 
 
$(4,986,527)
 
 
$—
 
 
$(4,986,527)
 
 
 
 
 
 
 
 
 
 
 
 
 
Refer to the Schedule of Investments for further disaggregation of investment categories.
PSMO
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets:
 
 
 
 
 
 
 
 
Investments:
 
 
 
 
 
 
 
 
Purchased Options
 
 
$—
 
 
$101,656,271
 
 
$—
 
 
$101,656,271
Total Investments
 
 
$—
 
 
$101,656,271
 
 
$—
 
 
$101,656,271
Liabilities:
 
 
 
 
 
 
 
 
Investments:
 
 
 
 
 
 
 
 
Written Options
 
 
$—
 
 
$(3,462,388)
 
 
$—
 
 
$(3,462,388)
Total Investments
 
 
$—
 
 
$(3,462,388)
 
 
$—
 
 
$(3,462,388)
 
 
 
 
 
 
 
 
 
 
 
 
 
Refer to the Schedule of Investments for further disaggregation of investment categories.
MILK
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Investments:
 
 
 
 
 
 
 
 
Corporate Bonds
 
 
$—
 
 
$16,298,418
 
 
$—
 
 
$16,298,418
Total Investments
 
 
$—
 
 
$16,298,418
 
 
$—
 
 
$16,298,418
 
 
 
 
 
 
 
 
 
 
 
 
 
Refer to the Schedule of Investments for further disaggregation of investment categories.
Options Contracts – In general, an option contract is an agreement between a buyer and seller that gives the purchaser of the option the right to buy or sell a particular asset at a specified future date at an agreed upon price (commonly known as the “strike price”). PSCW, PSCX, PSCJ, PSCQ, PSFM, PSFD, PSFJ, PSFO, PSMR, PSMD, PSMJ and PSMO portfolios include several types of FLEX Options, including both purchased and written put and call options (as further described below). The FLEX Options are all European style options, which means that they are exercisable at the strike price only on the FLEX Option expiration date. FLEX Options are customized option contracts available through national securities exchanges that are guaranteed for settlement by the Options Clearing Corporation (“OCC”), a market clearinghouse. FLEX Options provide investors with the ability to customize terms of an option, including exercise prices, exercise styles (European style versus American style options which are exercisable any time prior to the expiration date) and expiration dates, while achieving price discovery in competitive, transparent auctions markets and avoiding the counterparty exposure of the over-the-counter option positions.
 
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Pacer Funds
NOTES TO FINANCIAL STATEMENTS
April 30, 2026 (Unaudited)(Continued)
Each FLEX Option contract entitles the holder thereof (i.e., the purchaser of the FLEX Option) the option to purchase (for the call options) or sell (for the put options) the cash value of the reference asset as of the close of the market on the FLEX Option expiration date at the strike price. The Fund intends to be structured so that any amount owed by the Fund on the written FLEX Options will be covered by payouts at expiration from the purchased FLEX Options. As a result, the FLEX Options will be fully covered, and no additional collateral will be necessary during the life of the Fund. The Fund receives premiums in exchange for the written FLEX Options and pays premiums in exchange for the purchased FLEX Options. The OCC and securities exchange that the FLEX Options are listed on do not charge ongoing fees to writers or purchasers of the FLEX Options during their life for continuing to hold the option contracts. In general, put options give the holder (i.e., the buyer) the right to sell an asset (or deliver the cash value of the index, in case of an index put option) and the seller (i.e., the writer) of the put has the obligation to buy the asset (or receive cash value of the index, in case of an index put option) at a certain defined price. Call options give the holder (i.e., the buyer) the right to buy an asset (or receive cash value of the index, in case of an index call option) and the seller (i.e., the writer) the obligation to sell the asset (or deliver cash value of the index, in case of an index call option) at a certain defined price.
When the Funds purchase an option, an amount equal to the premium paid by the Funds are recorded as an investment and is subsequently adjusted to the current value of the option purchased. If an option expires on the stipulated expiration date or if the Funds enter into a closing sale transaction, a gain or loss is realized. If a call option is exercised, the cost of the security acquired is increased by the premium paid for the call. If a put option is exercised, a gain or loss is realized from the sale of the underlying security, and the proceeds from such sale are decreased by the premium originally paid. Purchased options are non-income producing securities. When the Funds write an option, an amount equal to the premium received by the Funds are recorded as a liability and is subsequently adjusted to the current value of the option written. Premiums received from writing options that expire unexercised are treated by the Funds on the expiration date as realized gain from written options. The difference between the premium and the amount paid on effecting a closing purchase transaction, including brokerage commissions, is also treated as a realized gain, or if the premium is less than the amount paid for the closing purchase transaction, as a realized loss. If a call option is exercised, the premium is added to the proceeds from the sale of the underlying security in determining whether the Funds have realized a gain or loss. If a put option is exercised, the premium reduces the cost basis of the securities purchased by the Funds. The Funds, as writers of an option, bear the market risk of an unfavorable change in the price of the security underlying the written option.
The OCC guarantees performance by each of the counterparties to FLEX Options, becoming the “buyer for every seller and the seller for every buyer,” protecting clearing members and options traders from counterparty risk. Subject to determination by the Securities Committee of the OCC, adjustments may be made to the FLEX Options for certain events (collectively, “Corporate Actions”) specified in the OCC’s by-laws and rules: certain stock dividends or distributions, stock splits, reverse stock splits, rights offerings, distributions, reorganizations, recapitalizations, or reclassifications with respect to an underlying security, or a merger, consolidation, dissolution or liquidation of the issuer of the underlying security. According to the OCC’s by-laws, the nature and extent of any such adjustment is to be determined by the OCC’s Securities Committee, in light of the circumstances known to it at the time such determination is made, based on its judgment as to what is appropriate for the protection of investors and the public interest, taking into account such factors as fairness to holders and writers (or purchasers and sellers) of the affected options, the maintenance of a fair and orderly market in the affected options, consistency of interpretation and practice, efficiency of exercise settlement procedures, and the coordination with other clearing agencies of the clearance and settlement of transactions in the underlying interest.
 
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Pacer Funds
NOTES TO FINANCIAL STATEMENTS
April 30, 2026 (Unaudited)(Continued)
The value of derivative instruments on the Statements of Assets and Liabilities for the Funds as of April 30, 2026, is as follows:
 
 
 
 
 
 
 
Equity Risk - Call and Put Options not
Accounted for as Hedging Instruments
 
 
 
Asset Derivatives
 
 
Liability Derivatives
 
 
 
Investments,
at Value
 
 
Written Options,
at Value
PSCW
 
 
$65,245,987
 
 
$4,932,065
PSCX
 
 
48,034,396
 
 
1,803,712
PSCJ
 
 
43,369,332
 
 
2,302,702
PSCQ
 
 
48,764,456
 
 
1,537,650
PSFM
 
 
23,878,154
 
 
1,774,275
PSFD
 
 
60,619,059
 
 
2,549,509
PSFJ
 
 
35,792,218
 
 
1,483,360
PSFO
 
 
45,802,316
 
 
1,336,130
PSMR
 
 
93,290,503
 
 
7,369,777
PSMD
 
 
97,127,400
 
 
4,280,922
PSMJ
 
 
92,673,464
 
 
4,986,527
PSMO
 
 
101,656,271
 
 
3,462,388
 
 
 
 
 
 
 
The effect of derivative instruments on the Statement of Operations for the period ended April 30, 2026 is as follows:
 
 
 
 
 
 
 
Equity Risk - Call and Put Options not
Accounted for as Hedging Instruments
 
 
 
Amount of Realized Gain (Loss) on
Derivatives Recognized in Income
 
 
Amount of Unrealized Gain (Loss) on
Derivatives Recognized in Income
 
 
 
Investments
 
 
Written Options
 
 
Investments
 
 
Written Options
PSCW
 
 
$9,288,214
 
 
$(356,650)
 
 
$(8,850,073)
 
 
$4,406,169
PSCX
 
 
3,870,128
 
 
(201,062)
 
 
(2,160,697)
 
 
620,593
PSCJ
 
 
65,949
 
 
(65,937)
 
 
1,525,503
 
 
443,371
PSCQ
 
 
(45,076)
 
 
8,710
 
 
1,586,717
 
 
533,291
PSFM
 
 
1,939,601
 
 
746,019
 
 
(2,025,902)
 
 
1,177,335
PSFD
 
 
5,151,165
 
 
896,454
 
 
(3,519,166)
 
 
727,712
PSFJ
 
 
7,276
 
 
(61,540)
 
 
1,013,772
 
 
897,033
PSFO
 
 
(109,671)
 
 
(1,455)
 
 
1,288,143
 
 
1,138,970
PSMR
 
 
10,258,789
 
 
537,422
 
 
(8,799,316)
 
 
4,534,693
PSMD
 
 
8,985,536
 
 
107,132
 
 
(6,145,664)
 
 
1,634,721
PSMJ
 
 
117,769
 
 
(146,675)
 
 
2,915,864
 
 
1,354,363
PSMO
 
 
(184,831)
 
 
(5,699)
 
 
2,915,859
 
 
1,842,686
 
 
 
 
 
 
 
 
 
 
 
 
 
The effect of derivative instruments on the Statement of Operations for the period ended April 30, 2026 is as follows:
 
 
 
 
 
 
 
Equity Risk - Call and Put Options not
Accounted for as Hedging Instruments
 
 
 
Average Volume of Derivative Activity
During the Period Ended April 30, 2026
 
 
 
Investments
 
 
Written Options
PSCW
 
 
$70,098,333
 
 
$(5,908,166)
PSCX
 
 
41,335,805
 
 
(1,365,476)
PSCJ
 
 
42,591,702
 
 
(1,811,323)
PSCQ
 
 
48,447,107
 
 
(1,349,795)
PSFM
 
 
23,057,650
 
 
(1,887,624)
PSFD
 
 
55,224,855
 
 
(2,551,098)
 
 
 
 
 
 
 
 
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Pacer Funds
NOTES TO FINANCIAL STATEMENTS
April 30, 2026 (Unaudited)(Continued)
 
 
 
 
 
 
 
Equity Risk - Call and Put Options not
Accounted for as Hedging Instruments
 
 
 
Average Volume of Derivative Activity
During the Period Ended April 30, 2026
 
 
 
Investments
 
 
Written Options
PSFJ
 
 
$37,162,954
 
 
$(1,437,051)
PSFO
 
 
44,521,922
 
 
(1,614,625)
PSMR
 
 
92,036,467
 
 
(8,133,580)
PSMD
 
 
88,941,605
 
 
(3,914,306)
PSMJ
 
 
91,698,748
 
 
(4,189,134)
PSMO
 
 
100,427,700
 
 
(3,566,149)
 
 
 
 
 
 
 
A.
Foreign Currency. Investment securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at the date of valuation. Purchases and sales of investment securities and income and expense items denominated in foreign currencies are translated into U.S. dollar amounts on the respective dates of such transactions. The Funds do not isolate that portion of the result of operations resulting from changes in foreign exchange rates on investments from fluctuations arising from changes in market prices of securities held. Such fluctuations are included with the net realized and unrealized gain or loss from investments. The Funds report net realized foreign exchange gains or losses that arise from sales of foreign currencies, currency gains or losses realized between the trade and settlement dates on foreign currency transactions, and the differences between the amounts of dividends, interest and foreign withholding taxes recorded on the Funds’ books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign exchange gains and losses arise from changes in the values of assets and liabilities, other than investments in securities at fiscal period end, resulting from changes in exchange rates.
B.
Federal Income Taxes. The Funds have complied and intend to continue to comply with the requirements of Subchapter M of the Internal Revenue Code of 1986, as amended, necessary to qualify as regulated investment companies and distribute substantially all net taxable investment income and net realized gains to shareholders in a manner which results in no tax cost to the Funds. Therefore, no federal income tax provision is required. As of and during the fiscal year or period ended October 31, 2025, the Funds did not have any tax positions that did not meet the “more-likely-than-not” threshold of being sustained by the applicable tax authority. As of and during the fiscal year or period ended October 31, 2025, the Funds did not have liabilities for any unrecognized tax benefits on uncertain tax positions as income tax expense in the Statement of Operations. Management has analyzed each of the Fund’s tax positions and concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions taken on returns filed for open tax years (2022-2024) for the applicable funds, or expected to be taken in each of the Fund’s 2025 tax returns. During the year or period ended October 31, 2025, the Funds did not incur any interest or penalties.
C.
Security Transactions and Investment Income. Investment securities transactions are accounted for on the trade date. Gains and losses realized on sales of securities are computed on the basis of highest amortized cost. Dividend income is recorded on the ex-dividend date. Interest income is recorded on an accrual basis. Discounts and premiums on securities purchased are accreted and amortized over the lives of the respective securities. Withholding taxes on foreign dividends have been provided for in accordance with the Funds’ understanding of the applicable tax rules and regulations.
Distributions received from a Funds’ investments in REITs and MLPs may be characterized as ordinary income, net capital gain, or return of capital. The proper characterization of such distributions is generally not known until after the end of each calendar year. As such, the Funds must use estimates in reporting the character of their income and distributions for financial statement purposes. Such estimates are based on historical information available from each MLP and other industry sources. The actual character of distributions to each Fund’s shareholders will be reflected on the Form 1099 received by shareholders after the end of the calendar year. Due to the nature of such investments, a portion of the distributions received by each Fund’s shareholders may represent a return of capital.
 
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Pacer Funds
NOTES TO FINANCIAL STATEMENTS
April 30, 2026 (Unaudited)(Continued)
D.
Distributions to Shareholders. Distributions to shareholders from net investment income for USAI, QSIX, QDPL and MILK are declared and paid on a monthly basis, distributions to shareholders from net investment income for BULD are declared and paid on a semi-annual basis, distributions to shareholders from net investment income for INDQ, ODDS, QQWZ, EAFG, PEVC, LCOW, QFHD, QFRD, MCOW, SCOW and FOWF and are declared and paid on a quarterly basis, and distributions to shareholders from net investment income for PSCW, PSCX, PSCJ, PSCQ, PSFM, PSFD, PSFJ, PSFO, PSFF, PSMR, PSMD, PSMJ and PSMO are declared and paid at least annually. Distributions for all Funds from net realized gains on securities, if any, normally are declared and paid on an annual basis. Distributions are recorded on the ex-dividend date.
E.
Use of Estimates. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates.
F.
Share Valuation. The NAV per share of each Fund is calculated by dividing the sum of the value of the securities held by the Fund, plus cash and other assets, minus all liabilities (including estimated accrued expenses) by the total number of shares outstanding for the Fund, rounded to the nearest cent. The Funds’ shares will not be priced on the days on which the NYSE are closed for trading. The offering and redemption price per share of the Fund is equal to each Fund’s NAV per share.
G.
Guarantees and Indemnifications. In the normal course of business, the Funds enters into contracts with service providers that contain general indemnification clauses. Each Fund’s maximum exposure under these arrangements is unknown as this would involve future claims that may be against the Funds that have not yet occurred.
H.
Cash and cash equivalents. Cash and cash equivalents are held with a financial institution. Cash and cash equivalents of the Funds may be placed in deposit accounts at U.S. banks and such deposits generally exceed Federal Deposit Insurance Corporation (“FDIC”) insurance limits. The FDIC insures deposit accounts up to
$250,000 for each account holder. The counter party is generally a single bank rather than a group of financial institutions; thus there may be a greater counter party credit risk. The Funds place deposits only with those counter parties which are believed to be creditworthy and there has been no history of loss.
I.
Reclassification of Capital Accounts. Additionally, U.S. GAAP requires that certain components of net assets relating to permanent differences be reclassified between financial and tax reporting. These reclassifications have no effect on net assets or net asset value per share. For the fiscal period ended October 31, 2025, the following table shows the reclassifications made:
 
 
 
 
 
 
 
 
 
 
Distributable Earnings
(Accumulated Deficit)
 
 
Paid-In
Capital
USAI
 
 
$(1,835,942)
 
 
$1,835,942
ODDS
 
 
(413,785)
 
 
413,785
BULD
 
 
—
 
 
—
QQWZ
 
 
(737,200)
 
 
737,200
EAFG
 
 
(123,559)
 
 
123,559
QSIX
 
 
—
 
 
—
QDPL
 
 
14,008,608
 
 
(14,008,608)
PEVC
 
 
—
 
 
—
LCOW
 
 
(414,494)
 
 
414,494
MCOW
 
 
—
 
 
—
SCOW
 
 
(51,303)
 
 
51,303
FOWF
 
 
(143,800)
 
 
143,800
PSCW
 
 
(3,171,025)
 
 
3,171,025
 
 
 
 
 
 
 
 
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Pacer Funds
NOTES TO FINANCIAL STATEMENTS
April 30, 2026 (Unaudited)(Continued)
 
 
 
 
 
 
 
 
 
 
Distributable Earnings
(Accumulated Deficit)
 
 
Paid-In
Capital
PSCX
 
 
$(4,703,350)
 
 
$4,703,350
PSCJ
 
 
(4,359,012)
 
 
4,359,012
PSCQ
 
 
(4,448,475)
 
 
4,448,475
PSFM
 
 
(2,078,565)
 
 
2,078,565
PSFD
 
 
(11,957,285)
 
 
11,957,285
PSFJ
 
 
(2,994,488)
 
 
2,994,488
PSFO
 
 
(2,281,048)
 
 
2,281,048
PSFF
 
 
(15,576,552)
 
 
15,576,552
PSMR
 
 
(6,367,460)
 
 
6,367,460
PSMD
 
 
(17,400,677)
 
 
17,400,677
PSMJ
 
 
(9,555,727)
 
 
9,555,727
PSMO
 
 
(10,024,182)
 
 
10,024,182
MILK
 
 
150
 
 
(150)
 
 
 
 
 
 
 
INDQ, QFHD and QFRD commenced operations after October 31, 2025.
NOTE 3 – COMMITMENTS AND OTHER RELATED PARTY TRANSACTIONS
Pursuant to an Investment Advisory Agreement (“Investment Advisory Agreement”) between the Trust, on behalf of the Funds, and the Adviser, the Adviser provides investment advice to the Funds and oversees the day-to-day operations of the Funds, subject to the direction and control of the Board and the officers of the Trust. The Adviser administers the Funds’ business affairs, provides office facilities and equipment and certain clerical, bookkeeping and administrative services. The Adviser bears the costs of all advisory and non-advisory services required to operate the Funds, in exchange for a single unitary management fee. For services provided to the Funds, the Funds pay the Adviser an advisory fee at an annual rate based on the Fund’s average daily net assets:
 
 
 
 
 
 
 
Ticker
 
 
Current
Adviser Fee
 
 
Previous
Adviser Fee
INDQ
 
 
0.88%1
 
 
—
USAI
 
 
0.75%
 
 
0.75%
ODDS
 
 
0.49%
 
 
0.49%
BULD
 
 
0.49%
 
 
0.49%
QQWZ
 
 
0.49%
 
 
0.49%
EAFG
 
 
0.65%
 
 
0.65%
QSIX
 
 
0.60%
 
 
0.60%
QDPL
 
 
0.60%
 
 
0.60%
PEVC
 
 
0.85%
 
 
0.85%
LCOW
 
 
0.49%
 
 
0.49%
QFHD
 
 
0.49%2
 
 
—
QFRD
 
 
0.49%2
 
 
—
MCOW
 
 
0.49%
 
 
0.49%
SCOW
 
 
0.59%
 
 
0.59%
FOWF
 
 
0.49%
 
 
0.49%
PSCW
 
 
​0.60%
 
 
0.60%
PSCX
 
 
​0.60%
 
 
0.60%
PSCJ
 
 
​0.60%
 
 
0.60%
 
 
 
 
 
 
 
 
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Pacer Funds
NOTES TO FINANCIAL STATEMENTS
April 30, 2026 (Unaudited)(Continued)
 
 
 
 
 
 
 
Ticker
 
 
Current
Adviser Fee
 
 
Previous
Adviser Fee
PSCQ
 
 
​0.60%
 
 
0.60%
PSFM
 
 
​0.60%
 
 
0.60%
PSFD
 
 
​0.60%
 
 
0.60%
PSFJ
 
 
​0.60%
 
 
0.60%
PSFO
 
 
​0.60%
 
 
0.60%
PSFF
 
 
​0.12%
 
 
0.12%
PSMR
 
 
​0.60%
 
 
0.60%
PSMD
 
 
​0.60%
 
 
0.60%
PSMJ
 
 
​0.60%
 
 
0.60%
PSMO
 
 
​0.60%
 
 
0.60%
MILK
 
 
0.49%
 
 
0.49%
 
 
 
 
 
 
 
1
The fund launched on March 31, 2026.
2
The fund launched on January 12, 2026.
Swan Global Management, LLC (“Swan”) serves as the sub-adviser to PSCW, PSCX, PSCJ, PSCQ, PSFM, PSFD, PSFJ, PSFO, PSFF, PSMR, PSMD, PSMJ and PSMO. The sub-adviser has responsibility for selecting and continuously monitoring the Funds’ investments. Sub-Advisory fees earned by Swan are paid by the Adviser.
Pursuant to a Sub-Advisory Agreement between the Adviser and Metaurus Advisors LLC (“Metaurus”) (the “Sub-Advisory Agreement”), Metaurus is responsible for the day-to-day management of QSIX and QDPL, including the trading of portfolio securities for the Funds. Metaurus is responsible for selecting broker-dealers to execute purchase and sale transactions or in connection with any rebalancing of reconstitutions of Indices, subject to the supervision of the Adviser and the Board. For the services it provides to QSIX and QDPL, Metaurus is compensated by the Adviser from the management fees paid by QSIX and QDPL to the Adviser.
Pursuant to a Sub-Advisory Agreement between the Adviser and Vident Asset Management (“Vident”) (the “Sub-Advisory Agreement”), Vident is responsible for the day-to-day management of MILK, including the trading of portfolio securities for the Fund. Vident is responsible for selecting broker-dealers to execute purchase and sale transactions or in connection with any rebalancing or reconstitutions of the Index, subject to the supervision of the Adviser and the Board. For the services it provides to MILK, Vident is compensated by the Adviser from the management fees paid by MILK to the Adviser.
Pursuant to a Sub-Advisory Agreement between the Adviser and ActiveAlpha Investment Advisors Private Ltd. (“ActiveAlpha”) (the “Sub-Advisory Agreement”), ActiveAlpha is responsible for the day-to-day management of INDQ, including the trading of portfolio securities for the Fund. ActiveAlpha is responsible for selecting broker-dealers to execute purchase and sale transactions or in connection with any rebalancing or reconstitutions of the Index, subject to the supervision of the Adviser and the Board. For the services it provides to INDQ, ActiveAlpha is compensated by the Adviser from the management fees paid by INDQ to the Adviser.
The Distributor acts as the Funds’ principal underwriter in a continuous public offering of the Funds’ shares. The Distributor is an affiliate of the Adviser. The Funds did not pay any fees or commissions to the Distributor during the period ended April 30, 2026.
Certain officers and a Trustee of the Trust are affiliated with the Adviser and Distributor.
 
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Pacer Funds
NOTES TO FINANCIAL STATEMENTS
April 30, 2026 (Unaudited)(Continued)
NOTE 4 – SERVICE AND CUSTODY AGREEMENTS
The Funds have entered into Service Agreements with U.S. Bancorp Fund Services, LLC (“Fund Services” or “Administrator”) doing business as U.S. Bank Global Fund Services and a Custody Agreement with U.S. Bank, N.A. (the “Custodian”), an affiliate of Fund Services. Under these agreements, Fund Services and the Custodian provide certain transfer agency, administrative, accounting and custody services. The Custodian acts as securities lending agent (the “Securities Lending Agent”) for the Funds.
NOTE 5 – SECURITIES LENDING
The Funds may lend up to 33 1/3% of the value of the securities in their portfolios to brokers, dealers and financial institutions (but not individuals) under terms of participation in a securities lending program administered by the Securities Lending Agent. The securities lending agreement requires that loans are collateralized at all times in an amount equal to at least 102% of the value of any domestic loaned securities at the time of the loan, plus accrued interest. The use of loans of foreign securities, which are denominated and payable in U.S. dollars, shall be collateralized in an amount equal to 105% of the value of any loaned securities at the time of the loan plus accrued interest. The Funds receive compensation in the form of fees and earn interest on the cash collateral. Due to timing issues of when a security is recalled from loan, the financial statements may differ in presentation. The amount of fees depends on a number of factors including the type of security and length of the loan. The Funds continue to receive interest payments or dividends on the securities loaned during the borrowing period. Gain or loss in the value of securities loaned that may occur during the term of the loan will be for the account of the Funds. The Funds have the right under the terms of the securities lending agreements to recall the securities from the borrower on demand.
As of April 30, 2026, USAI, ODDS, BULD, QSIX and QDPL had loaned securities and received cash collateral for the loans. The cash collateral is invested in the Mount Vernon Liquid Assets Portfolio, LLC of which the investment objective is to seek to maximize income to the extent consistent with the preservation of capital and liquidity and maintain a stable NAV of $1.00. Although risk is mitigated by the collateral, the Fund could experience a delay in recovering their securities and possible loss of income or value if the borrower fails to return the borrowed securities. In addition, the Fund bears the risk of loss associated with the investment of cash collateral received.
During the period ended April 30, 2026, USAI, ODDS, BULD, EAFG, QSIX, QDPL and PSFF had loaned securities that were collateralized by cash. The cash collateral received was invested in securities as listed in the Fund’s Schedule of Investments. Income earned from these investments is allocated to the Fund based on the Fund’s portion of total cash collateral received. Securities lending income is disclosed in the Fund’s Statement of Operations.
NOTE 6 – SECURED BORROWINGS
The following represents gross obligations for secured borrowings by remaining time to maturity as of April 30, 2026.
Securities Lending Transactions
 
 
 
 
Overnight and Continuous
 
 
Investments
Purchased with
Proceeds from
Securities Lending
Collateral*
INDQ
 
 
$—
USAI
 
 
14,616,236
ODDS
 
 
59,009
BULD
 
 
267,361
QQWZ
 
 
—
EAFG
 
 
—
QSIX
 
 
331,166
QDPL
 
 
17,677,045
PEVC
 
 
—
LCOW
 
 
—
 
 
 
 
 
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Pacer Funds
NOTES TO FINANCIAL STATEMENTS
April 30, 2026 (Unaudited)(Continued)
 
 
 
 
Overnight and Continuous
 
 
Investments
Purchased with
Proceeds from
Securities Lending
Collateral*
QFHD
 
 
$—
QFRD
 
 
—
MCOW
 
 
—
SCOW
 
 
—
FOWF
 
 
—
PSCW
 
 
—
PSCX
 
 
—
PSCJ
 
 
—
PSCQ
 
 
—
PSFM
 
 
—
PSFD
 
 
—
PSFJ
 
 
—
PSFO
 
 
—
PSFF
 
 
—
PSMR
 
 
—
PSMD
 
 
—
PSMJ
 
 
—
PSMO
 
 
—
MILK
 
 
—
 
 
 
 
*
Proceeds from securities lending (Investments Purchased with Proceeds from Securities Lending Collateral).
Due to the absence of a master netting agreement related to the Funds’ participation in securities lending, no additional offsetting disclosures have been made on behalf of the Funds for the total borrowings listed above.
NOTE 7 – DERIVATIVES TRANSACTIONS
The Funds may use derivatives for different purposes, including to earn income and enhance returns, to increase or decrease exposure to a particular market, to manage or adjust the risk profile of the Fund, or as alternatives to direct investments. Derivatives may be used for hedging or non-hedging purposes. While hedging can reduce or eliminate losses, it can also reduce or eliminate gains. When the Fund uses derivatives as an investment to increase market exposure, or for hedging purposes, gains and losses from derivative instruments may be substantially greater than the derivative’s original cost.
The Funds may enter into various types of derivative contracts, including, but not limited to, futures contracts, foreign exchange contracts, credit default swaps, interest rate swaps, total return swaps, currency swaps, purchased and written options, and warrants. Derivatives may contain various risks including the potential inability of the counterparty to fulfill obligations, illiquid secondary markets, and market movements that may expose the Funds to gains or losses in excess of the amounts shown on the Statements of Assets and Liabilities.
The Funds may hold warrants, which provide the right, but not the obligation, to purchase equity securities at a specified price before expiration. Warrants are valued at fair value and reported as investments on the Statement of Assets and Liabilities. Changes in fair value are recognized in the Statement of Operations. The fair value of warrants is included in Investments in Securities on the Statement of Assets and Liabilities. Changes in the fair value of warrants are reflected as net change in unrealized appreciation (depreciation) on investments in the Statement of Operations. Realized gains and losses resulting from warrant expirations, exercises, or sales are included in net realized gain (loss) on investments.
 
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Pacer Funds
NOTES TO FINANCIAL STATEMENTS
April 30, 2026 (Unaudited)(Continued)
The Funds may enter into futures contracts to hedge various investments for risk management as well as speculative purposes. Initial margin deposits are made upon entering into futures contracts and can be either cash or securities. Secondary margin limits are required to be maintained while futures are held, as defined by each contract.
During the period a futures contract is open, changes in the value of the contract are recognized as unrealized gains or losses by “marking- to-market” on a daily basis to reflect the fair value of the contract at the end of each day’s trading. Variation margin receivables or payables represent the difference between the change in unrealized appreciation and depreciation on the open contracts and the cash deposits made on the margin accounts. When the contract is closed, the Funds record a realized gain or loss equal to the difference between the proceeds from the closing transaction and the Funds’ cost of entering into a contract. The use of futures contracts involves the risk of illiquid markets or imperfect correlation between the value of the instruments and the underlying securities, or that the counterparty will fail to perform its obligations.
The Funds may enter into swap agreements, including interest rate swaps, total return swaps, and credit default swaps, to manage exposure or enhance returns. Swap agreements are valued at fair value and reported as assets or liabilities on the Statement of Assets and Liabilities. Realized and unrealized gains and losses are recorded in the Statement of Operations.
The following tables represent a summary of the value of derivative instruments as of April 30, 2026 and the effect of derivative instruments on the Statement of Assets and Liabilities as of April 30, 2026:
QSIX
Statement of Assets and Liabilities - Values of Derivative Instruments as of April 30, 2026
 
 
 
 
 
 
 
Asset Derivatives
Derivatives
 
 
Location
 
 
Value
Equity Contracts - Futures
 
 
Deposit at broker for other investments
 
 
$577,767
 
 
 
 
 
 
 
The effect of Derivative Instruments on the Statement of Operations for the period ended April 30, 2026 is as follows:
 
 
 
 
 
 
 
 
 
 
Derivatives
 
 
Amount of
Realized (Loss)
on Derivatives
Recognized in Income
 
 
Derivatives
 
 
Change in Unrealized
(Depreciation) on
Derivatives
Recognized in Income
Equity Contracts - Futures
 
 
($5,941)
 
 
Equity Contracts - Futures
 
 
($25,681)
 
 
 
 
 
 
 
 
 
 
The average monthly value of long futures during the period ended April 30, 2026 in QSIX was $1,627,495.
QDPL
Statement of Assets and Liabilities - Values of Derivative Instruments as of April 30, 2026
 
 
 
 
 
 
 
Asset Derivatives
Derivatives
 
 
Location
 
 
Value
Equity Contracts - Futures
 
 
Deposit at broker for other investments
 
 
$14,173,307
 
 
 
 
 
 
 
 
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Pacer Funds
NOTES TO FINANCIAL STATEMENTS
April 30, 2026 (Unaudited)(Continued)
The effect of Derivative Instruments on the Statement of Operations for the period ended April 30, 2026 is as follows:
 
 
 
 
 
 
 
 
 
 
Derivatives
 
 
Amount of Realized
Gain on Derivatives
Recognized in Income
 
 
Derivatives
 
 
Change in Unrealized
Appreciation on
Derivatives
Recognized in Income
Equity Contracts - Futures
 
 
$3,237,827
 
 
Equity Contracts - Futures
 
 
$2,408,751
 
 
 
 
 
 
 
 
 
 
The average monthly value of long futures during the period ended April 30, 2026 in QDPL was $161,036,369.
PEVC
Statement of Assets and Liabilities - Values of Derivative Instruments as of April 30, 2026
 
 
 
 
 
 
 
Asset Derivatives
Derivatives
 
 
Location
 
 
Value
Total Return Swap Contracts
 
 
Receivable for swap contracts
 
 
$58,572
 
 
 
 
 
 
 
The effect of Derivative Instruments on the Statement of Operations for the period ended April 30, 2026 is as follows:
 
 
 
 
 
 
 
 
 
 
Derivatives
 
 
Amount of Realized
Gain on Derivatives
Recognized in Income
 
 
Derivatives
 
 
Change in Unrealized
Appreciation on
Derivatives
Recognized in Income
Total Return Swap Contracts
 
 
$(73,701)
 
 
Total Return Swap Contracts
 
 
$33,682
 
 
 
 
 
 
 
 
 
 
NOTE 8 – OFFSETTING ASSETS AND LIABILITIES
The following is a summary of the Assets and Liabilities for each Fund subject to offsets as of April 30, 2026:
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description/Counterparty
 
 
Gross
Amounts of
Recognized
Assets
 
 
Gross
Amounts
Offset in the
Statement of
Assets and
Liabilities
 
 
Net Amounts
Presented in
the Statement of
Assets and
Liabilities
 
 
Gross Amounts not Offset
in the Statement of
Assets and Liabilities
 
 
 
 
Financial
Instruments
 
 
Collateral
Pledged
(Received)
 
 
Net
Amount
QSIX
 
 
 
 
 
 
 
 
 
 
 
 
Futures Contracts
 
 
$577,767
 
 
$—
 
 
$577,767
 
 
$577,767
 
 
$—
 
 
$—
QDPL
 
 
 
 
 
 
 
 
 
 
 
 
Futures Contracts
 
 
​14,173,307
 
 
​—
 
 
​14,173,307
 
 
​14,173,307
 
 
​—
 
 
​—
PEVC
 
 
 
 
 
 
 
 
 
 
 
 
Total Return Swaps
 
 
​58,572
 
 
​—
 
 
​58,572
 
 
​58,572
 
 
​—
 
 
​—
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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Pacer Funds
NOTES TO FINANCIAL STATEMENTS
April 30, 2026 (Unaudited)(Continued)
Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Gross
Amounts of
Recognized
Liabilities
 
 
Gross
Amounts
Offset in the
Statements of
Assets and
Liabilities
 
 
Net Amounts
Presented in
the Statements
of Assets and
Liabilities
 
 
Gross Amounts Not Offset
in the Statements of
Assets and Liabilities
 
 
 
 
Financial
Instruments
 
 
Collateral
Pledged
(Received)
 
 
Net
Amount
USAI
 
 
 
 
 
 
 
 
 
 
 
 
Securities Lending
 
 
$ 14,616,236
 
 
$—
 
 
$ 14,616,236
 
 
$ 14,616,236
 
 
$—
 
 
$—
ODDS
 
 
 
 
 
 
 
 
 
 
 
 
Securities Lending
 
 
​59,009
 
 
​—
 
 
​59,009
 
 
​59,009
 
 
​—
 
 
​—
BULD
 
 
 
 
 
 
 
 
 
 
 
 
Securities Lending
 
 
​267,361
 
 
​—
 
 
​267,361
 
 
​267,361
 
 
​—
 
 
​—
QSIX
 
 
 
 
 
 
 
 
 
 
 
 
Securities Lending
 
 
​331,166
 
 
​—
 
 
​331,166
 
 
​331,166
 
 
​—
 
 
​—
QDPL
 
 
 
 
 
 
 
 
 
 
 
 
Securities Lending
 
 
​17,677,045
 
 
​—
 
 
​17,677,045
 
 
​17,677,045
 
 
​—
 
 
​—
PEVC
 
 
 
 
 
 
 
 
 
 
 
 
Total Return Swaps
 
 
​11,390
 
 
​—
 
 
​11,390
 
 
​11,390
 
 
​—
 
 
​—
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
NOTE 9 – INVESTMENT TRANSACTIONS
For the period ended April 30, 2026, the aggregate purchases and sales of securities by the Funds, excluding short-term securities and in-kind transactions were as follows:
 
 
 
 
 
 
 
 
 
 
Purchases
 
 
Sales
INDQ
 
 
$986,142
 
 
$—
USAI
 
 
63,187,433
 
 
56,180,109
ODDS
 
 
(7,128,173)
 
 
713,582
BULD
 
 
3,291,660
 
 
406,055
QQWZ
 
 
—
 
 
—
EAFG
 
 
1,537,594
 
 
2,173,473
QSIX
 
 
6,104,557
 
 
3,223,741
QDPL
 
 
329,765,890
 
 
153,049,920
PEVC
 
 
—
 
 
—
LCOW
 
 
—
 
 
—
QFHD
 
 
1,625,088
 
 
1,139,813
QFRD
 
 
1,706,120
 
 
714,935
MCOW
 
 
—
 
 
—
SCOW
 
 
—
 
 
—
FOWF
 
 
—
 
 
—
PSCW
 
 
—
 
 
—
PSCX
 
 
—
 
 
—
PSCJ
 
 
—
 
 
—
PSCQ
 
 
—
 
 
—
PSFM
 
 
—
 
 
—
PSFD
 
 
—
 
 
—
PSFJ
 
 
—
 
 
—
PSFO
 
 
—
 
 
—
PSFF
 
 
69,467,494
 
 
52,040,332
PSMR
 
 
—
 
 
—
 
 
 
 
 
 
 
 
139
 

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Pacer Funds
NOTES TO FINANCIAL STATEMENTS
April 30, 2026 (Unaudited)(Continued)
 
 
 
 
 
 
 
 
 
 
Purchases
 
 
Sales
PSMD
 
 
$—
 
 
$—
PSMJ
 
 
—
 
 
—
PSMO
 
 
—
 
 
—
MILK
 
 
—
 
 
—
 
 
 
 
 
 
 
For the period ended April 30, 2026, in-kind transactions associated with creations and redemptions, excluding short-term securities are as follows:
 
 
 
 
 
 
 
 
 
 
Purchases
 
 
Sales
INDQ
 
 
$—
 
 
$—
USAI
 
 
—
 
 
26,760,047
ODDS
 
 
—
 
 
—
BULD
 
 
—
 
 
—
QQWZ
 
 
—
 
 
—
EAFG
 
 
—
 
 
1,189,637
QSIX
 
 
—
 
 
1,732,258
QDPL
 
 
—
 
 
90,493,556
PEVC
 
 
—
 
 
—
LCOW
 
 
—
 
 
—
QFHD
 
 
—
 
 
848,362
QFRD
 
 
—
 
 
427,492
MCOW
 
 
—
 
 
—
SCOW
 
 
—
 
 
—
FOWF
 
 
—
 
 
—
PSCW
 
 
—
 
 
64,272,212
PSCX
 
 
—
 
 
32,705,642
PSCJ
 
 
—
 
 
—
PSCQ
 
 
—
 
 
—
PSFM
 
 
—
 
 
22,567,288
PSFD
 
 
—
 
 
50,225,668
PSFJ
 
 
—
 
 
—
PSFO
 
 
—
 
 
—
PSFF
 
 
—
 
 
52,040,332
PSMR
 
 
—
 
 
93,964,607
PSMD
 
 
—
 
 
83,312,193
PSMJ
 
 
—
 
 
—
PSMO
 
 
—
 
 
—
MILK
 
 
—
 
 
—
 
 
 
 
 
 
 
For the period ended April 30, 2026, U.S. Government transactions associated with creations and redemptions, excluding short-term securities are as follows:
 
 
 
 
 
 
 
 
 
 
Purchases
 
 
Sales
INDQ
 
 
$—
 
 
$—
USAI
 
 
—
 
 
—
ODDS
 
 
5,026,758
 
 
—
BULD
 
 
—
 
 
—
QQWZ
 
 
—
 
 
—
EAFG
 
 
—
 
 
—
QSIX
 
 
—
 
 
—
 
 
 
 
 
 
 
 
140
 

TABLE OF CONTENTS

Pacer Funds
NOTES TO FINANCIAL STATEMENTS
April 30, 2026 (Unaudited)(Continued)
 
 
 
 
 
 
 
 
 
 
Purchases
 
 
Sales
QDPL
 
 
$21,058,848
 
 
$—
PEVC
 
 
—
 
 
—
LCOW
 
 
—
 
 
—
QFHD
 
 
—
 
 
—
QFRD
 
 
—
 
 
—
MCOW
 
 
—
 
 
—
SCOW
 
 
—
 
 
—
FOWF
 
 
—
 
 
—
PSCW
 
 
—
 
 
—
PSCX
 
 
—
 
 
—
PSCJ
 
 
—
 
 
—
PSCQ
 
 
—
 
 
—
PSFM
 
 
—
 
 
—
PSFD
 
 
—
 
 
—
PSFJ
 
 
—
 
 
—
PSFO
 
 
—
 
 
—
PSFF
 
 
—
 
 
—
PSMR
 
 
—
 
 
—
PSMD
 
 
—
 
 
—
PSMJ
 
 
—
 
 
—
PSMO
 
 
—
 
 
—
MILK
 
 
—
 
 
—
 
 
 
 
 
 
 
NOTE 10 – TRANSACTIONS WITH AFFILIATED SECURITIES
PSFF seeks capital appreciation with downside protection. The Fund is an actively-managed exchange-traded fund that seeks to achieve its investment objective by investing in a portfolio of other ETFs also managed by Pacer, and the Fund’s investment sub-adviser, Swan. The other ETFs in which the Fund invests seek exposure to U.S. equity securities, while limiting downside risk. While the Fund is not limited in the types of strategies the underlying ETFs may utilize, the Fund is expected to primarily utilize “structured outcome strategy” styles of underlying ETFs (the “Underlying Swan ETFs”). Underlying Swan ETFs generally invest in equity securities or options on equity securities (including other ETFs) to obtain their long exposure to the U.S. equity market. Additionally, the Underlying Swan ETFs may invest in cash or short-term U.S. Treasury securities or utilize options on equity securities (including other ETFs) to hedge their exposure to U.S. equities. The Fund may also invest directly in equity securities, options on equity securities (including other ETFs) or indices, cash, or cash equivalents.
PSFF had the following transactions during the current fiscal year with affiliates:
 
 
 
 
 
 
 
Share Activity
Security Name
 
 
Balance
November 1,
2025
 
 
Purchases
 
 
Sales
 
 
Balance
April 30,
2026
PSCW
 
 
1,947,882
 
 
—
 
 
(177,421)
 
 
1,770,461
PSCX
 
 
880,686
 
 
—
 
 
(80,188)
 
 
800,498
PSCJ
 
 
1,252,549
 
 
—
 
 
(114,078)
 
 
1,138,471
PSCQ
 
 
1,299,197
 
 
200,105
 
 
(136,545)
 
 
1,362,757
PSFM
 
 
443,087
 
 
34,177
 
 
(40,414)
 
 
436,850
PSFD
 
 
649,601
 
 
256,017
 
 
(69,132)
 
 
836,486
PSFJ
 
 
706,594
 
 
—
 
 
(64,345)
 
 
642,249
PSFO
 
 
445,155
 
 
483,185
 
 
(74,910)
 
 
853,430
 
 
 
 
 
 
 
 
 
 
 
 
 
 
141
 

TABLE OF CONTENTS

Pacer Funds
NOTES TO FINANCIAL STATEMENTS
April 30, 2026 (Unaudited)(Continued)
 
 
 
 
 
 
 
Share Activity
Security Name
 
 
Balance
November 1,
2025
 
 
Purchases
 
 
Sales
 
 
Balance
April 30,
2026
PSMR
 
 
2,487,648
 
 
55,122
 
 
(226,717)
 
 
2,316,053
PSMD
 
 
2,153,712
 
 
432,600
 
 
(212,942)
 
 
2,373,370
PSMJ
 
 
2,448,360
 
 
—
 
 
(223,036)
 
 
2,225,324
PSMO
 
 
2,225,003
 
 
703,346
 
 
(259,826)
 
 
2,668,523
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Period Ended April 30, 2026
Security Name
 
 
Value
 
 
Dividend
Income
 
 
Gain Realized
on Sale of
Shares
 
 
Net Change in
Unrealized
Appreciation
(Depreciation)
on Investments
in Affiliate
PSCW
 
 
$52,317,123
 
 
$—
 
 
$822,517
 
 
$2,831,555
PSCX
 
 
25,616,256
 
 
—
 
 
586,689
 
 
716,199
PSCJ
 
 
35,406,903
 
 
—
 
 
801,078
 
 
818,824
PSCQ
 
 
41,564,361
 
 
—
 
 
493,261
 
 
1,213,676
PSFM
 
 
14,924,980
 
 
—
 
 
364,135
 
 
805,596
PSFD
 
 
32,480,751
 
 
—
 
 
772,493
 
 
838,313
PSFJ
 
 
22,131,901
 
 
—
 
 
748,906
 
 
396,984
PSFO
 
 
28,808,895
 
 
—
 
 
826,813
 
 
607,231
PSMR
 
 
73,233,596
 
 
—
 
 
1,482,017
 
 
3,615,453
PSMD
 
 
79,614,697
 
 
—
 
 
1,745,097
 
 
1,809,230
PSMJ
 
 
73,992,023
 
 
—
 
 
2,028,567
 
 
1,330,112
PSMO
 
 
84,898,526
 
 
—
 
 
2,279,686
 
 
1,430,543
Total
 
 
$ 564,990,012
 
 
$—
 
 
$ 12,951,259
 
 
$16,413,716
 
 
 
 
 
 
 
 
 
 
 
 
 
NOTE 11 – TAX COST BASIS
The components of tax basis cost of investments and net unrealized appreciation for federal income tax purposes at October 31, 2025, were as follows:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
USAI
 
 
ODDS
 
 
BULD
 
 
QQWZ
 
 
EAFG
Tax cost of investments
 
 
$79,123,712
 
 
$5,156,028
 
 
$1,409,500
 
 
$9,087,550
 
 
$2,722,752
Gross tax unrealized appreciation
 
 
21,862,378
 
 
458,842
 
 
507,188
 
 
988,432
 
 
317,636
Gross tax unrealized depreciation
 
 
(3,165,874)
 
 
(639,831)
 
 
(131,193)
 
 
(362,662)
 
 
(126,161)
Net tax unrealized appreciation (depreciation)
 
 
18,696,504
 
 
(180,989)
 
 
375,995
 
 
625,770
 
 
191,475
Undistributed ordinary income
 
 
—
 
 
10,715
 
 
7,313
 
 
4,124
 
 
28,333
Undistributed long-term gain
 
 
—
 
 
—
 
 
16,666
 
 
—
 
 
—
Total distributable earnings
 
 
—
 
 
10,715
 
 
23,979
 
 
4,124
 
 
28,333
Other accumulated (loss)
 
 
(2,409,876)
 
 
(17,585)
 
 
(53)
 
 
—
 
 
(66,091)
Total accumulated gain (loss)
 
 
$16,286,628
 
 
$(187,859)
 
 
$399,921
 
 
$629,894
 
 
$153,717
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
142
 

TABLE OF CONTENTS

Pacer Funds
NOTES TO FINANCIAL STATEMENTS
April 30, 2026 (Unaudited)(Continued)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
QSIX
 
 
QDPL
 
 
PEVC
 
 
LCOW
 
 
MCOW
Tax cost of investments
 
 
$12,407,436
 
 
$ 1,132,439,766
 
 
$2,929,639
 
 
$ 15,999,146
 
 
$1,007,725
Gross tax unrealized appreciation
 
 
2,331,780
 
 
259,894,927
 
 
357,268
 
 
1,725,429
 
 
66,691
Gross tax unrealized depreciation
 
 
(357,798)
 
 
(52,200,170)
 
 
(130,855)
 
 
(669,028)
 
 
(64,916)
Net tax unrealized appreciation (depreciation)
 
 
1,973,982
 
 
207,694,757
 
 
226,413
 
 
1,056,401
 
 
1,775
Undistributed ordinary income
 
 
—
 
 
—
 
 
141,753
 
 
22,056
 
 
495
Undistributed long-term gain
 
 
—
 
 
—
 
 
12
 
 
—
 
 
—
Total distributable earnings
 
 
—
 
 
—
 
 
141,765
 
 
22,056
 
 
495
Other accumulated (loss)
 
 
(30,870)
 
 
(4,085,334)
 
 
—
 
 
—
 
 
(1,274)
Total accumulated gain (loss)
 
 
$1,943,112
 
 
$203,609,423
 
 
$368,178
 
 
$1,078,457
 
 
$996
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SCOW
 
 
FOWF
 
 
PSCW
 
 
PSCX
 
 
PSCJ
Tax cost of investments
 
 
$1,050,684
 
 
$5,960,819
 
 
$69,959,795
 
 
$ 28,728,153
 
 
$ 40,874,160
Gross tax unrealized appreciation
 
 
17,348
 
 
498,265
 
 
16,312,144
 
 
5,101,494
 
 
4,352,122
Gross tax unrealized depreciation
 
 
(83,243)
 
 
(173,993)
 
 
(9,732,115)
 
 
(2,048,982)
 
 
(2,402,214)
Net tax unrealized appreciation (depreciation)
 
 
(65,895)
 
 
324,272
 
 
6,580,029
 
 
3,052,512
 
 
1,949,908
Undistributed ordinary income
 
 
443
 
 
2,435
 
 
—
 
 
—
 
 
—
Undistributed long-term gain
 
 
—
 
 
—
 
 
—
 
 
—
 
 
—
Total distributable earnings
 
 
443
 
 
2,435
 
 
—
 
 
—
 
 
—
Other accumulated (loss)
 
 
(7,327)
 
 
(2,703)
 
 
(3,701,963)
 
 
(3,990,184)
 
 
(751,453)
Total accumulated gain (loss)
 
 
$(72,779)
 
 
$324,004
 
 
$2,878,066
 
 
$(937,672)
 
 
$1,198,455
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PSCQ
 
 
PSFM
 
 
PSFD
 
 
PSFJ
 
 
PSFO
Tax cost of investments
 
 
$41,790,871
 
 
$19,808,530
 
 
$43,195,592
 
 
$ 37,097,319
 
 
$25,219,203
Gross tax unrealized appreciation
 
 
966,210
 
 
5,025,118
 
 
8,729,703
 
 
3,990,685
 
 
589,378
Gross tax unrealized depreciation
 
 
(584,446)
 
 
(3,049,111)
 
 
(3,769,739)
 
 
(2,117,239)
 
 
(357,449)
Net tax unrealized appreciation (depreciation)
 
 
381,764
 
 
1,976,007
 
 
4,959,964
 
 
1,873,446
 
 
231,929
Undistributed ordinary income
 
 
—
 
 
—
 
 
—
 
 
—
 
 
—
Undistributed long-term gain
 
 
—
 
 
—
 
 
—
 
 
—
 
 
—
Total distributable earnings
 
 
—
 
 
—
 
 
—
 
 
—
 
 
—
Other accumulated (loss)
 
 
(2,447,511)
 
 
(5,022,315)
 
 
(8,159,428)
 
 
(3,156,917)
 
 
(3,159,691)
Total accumulated gain (loss)
 
 
$(2,065,747)
 
 
$(3,046,308)
 
 
$(3,199,464)
 
 
$(1,283,471)
 
 
$(2,927,762)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
143
 

TABLE OF CONTENTS

Pacer Funds
NOTES TO FINANCIAL STATEMENTS
April 30, 2026 (Unaudited)(Continued)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PSFF
 
 
PSMR
 
 
PSMD
 
 
PSMJ
 
 
PSMO
Tax cost of investments
 
 
$ 444,061,232
 
 
$79,188,846
 
 
$72,653,646
 
 
$87,179,586
 
 
$76,524,032
Gross tax unrealized appreciation
 
 
75,190,970
 
 
19,911,657
 
 
13,845,845
 
 
9,766,696
 
 
1,854,882
Gross tax unrealized depreciation
 
 
(38,078)
 
 
(12,349,129)
 
 
(6,556,725)
 
 
(5,607,482)
 
 
(1,149,705)
Net tax unrealized appreciation (depreciation)
 
 
75,152,892
 
 
7,562,528
 
 
7,289,120
 
 
4,159,214
 
 
705,177
Undistributed ordinary income
 
 
—
 
 
—
 
 
—
 
 
—
 
 
—
Undistributed long-term gain
 
 
—
 
 
—
 
 
—
 
 
—
 
 
—
Total distributable earnings
 
 
—
 
 
—
 
 
—
 
 
—
 
 
—
Other accumulated (loss)
 
 
(502,010)
 
 
(9,289,609)
 
 
(11,512,972)
 
 
(5,483,239)
 
 
(9,593,379)
Total accumulated gain (loss)
 
 
$74,650,882
 
 
$(1,727,081)
 
 
$(4,223,852)
 
 
$(1,324,025)
 
 
$(8,888,202)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
MILK
Tax cost of investments
 
 
$6,865,320
Gross tax unrealized appreciation
 
 
79,321
Gross tax unrealized depreciation
 
 
(43,667)
Net tax unrealized appreciation (depreciation)
 
 
35,654
Undistributed ordinary income
 
 
117,668
Undistributed long-term gain
 
 
—
Total distributable earnings
 
 
117,668
Other accumulated (loss)
 
 
—
Total accumulated gain (loss)
 
 
$153,322
 
 
 
 
INDQ, QFHD and QFRD commenced operations after October 31, 2025.
The difference between book and tax-basis cost is attributable to the realization for tax purposes of unrealized gains on investments in Real Estate Investment Trusts (REITs), partnerships, passive foreign investment companies and wash sales. Under tax law, certain capital and foreign currency losses realized after October 31 and within the taxable year are deemed to arise on the first business day of a Fund’s next taxable year. At October 31, 2025, the Funds, on a tax basis, did not defer any post-October.
At October 31, 2025, the following Funds deferred, on a tax basis, ordinary late year loses:
 
 
 
 
 
 
 
Ordinary
Late Year
Loss Deferral
USAI
 
 
$—
ODDS
 
 
—
BULD
 
 
—
QQWZ
 
 
—
EAFG
 
 
—
QSIX
 
 
—
QDPL
 
 
—
PEVC
 
 
—
LCOW
 
 
—
MCOW
 
 
—
SCOW
 
 
—
FOWF
 
 
—
 
 
 
 
 
144
 

TABLE OF CONTENTS

Pacer Funds
NOTES TO FINANCIAL STATEMENTS
April 30, 2026 (Unaudited)(Continued)
 
 
 
 
 
 
 
Ordinary
Late Year
Loss Deferral
PSCW
 
 
$298,672
PSCX
 
 
142,450
PSCJ
 
 
191,421
PSCQ
 
 
189,690
PSFM
 
 
110,165
PSFD
 
 
239,500
PSFJ
 
 
139,541
PSFO
 
 
75,330
PSFF
 
 
371,537
PSMR
 
 
394,890
PSMD
 
 
404,388
PSMJ
 
 
386,022
PSMO
 
 
416,645
MILK
 
 
—
 
 
 
 
INDQ, QFHD and QFRD commenced operations after October 31, 2025.
At October 31, 2025, the Funds had the following capital loss carryforwards:
 
 
 
 
 
 
 
 
 
 
 
 
 
Short-Term
 
 
Long-Term
 
 
Expires
USAI
 
 
$ 1,341,433
 
 
$ 1,058,555
 
 
Indefinite
ODDS
 
 
3,501
 
 
14,022
 
 
Indefinite
BULD
 
 
—
 
 
—
 
 
Indefinite
QQWZ
 
 
—
 
 
—
 
 
Indefinite
EAFG
 
 
61,160
 
 
4,931
 
 
Indefinite
QSIX
 
 
—
 
 
—
 
 
Indefinite
QDPL
 
 
—
 
 
—
 
 
Indefinite
PEVC
 
 
—
 
 
—
 
 
Indefinite
LCOW
 
 
—
 
 
—
 
 
Indefinite
MCOW
 
 
1,274
 
 
—
 
 
Indefinite
SCOW
 
 
6,215
 
 
—
 
 
Indefinite
FOWF
 
 
2,703
 
 
—
 
 
Indefinite
PSCW
 
 
2,860,329
 
 
542,962
 
 
Indefinite
PSCX
 
 
3,030,914
 
 
816,820
 
 
Indefinite
PSCJ
 
 
44,782
 
 
515,250
 
 
Indefinite
PSCQ
 
 
1,952,121
 
 
305,700
 
 
Indefinite
PSFM
 
 
3,803,978
 
 
1,108,172
 
 
Indefinite
PSFD
 
 
6,041,058
 
 
1,878,870
 
 
Indefinite
PSFJ
 
 
1,625,746
 
 
1,391,630
 
 
Indefinite
PSFO
 
 
2,397,900
 
 
686,461
 
 
Indefinite
PSFF
 
 
130,264
 
 
209
 
 
Indefinite
PSMR
 
 
6,519,782
 
 
2,374,937
 
 
Indefinite
PSMD
 
 
8,584,684
 
 
2,464,787
 
 
Indefinite
PSMJ
 
 
2,674,603
 
 
2,422,615
 
 
Indefinite
PSMO
 
 
7,847,296
 
 
1,689,438
 
 
Indefinite
MILK
 
 
—
 
 
—
 
 
Indefinite
 
 
 
 
 
 
 
 
 
 
INDQ, QFHD and QFRD commenced operations after October 31, 2025.
 
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Pacer Funds
NOTES TO FINANCIAL STATEMENTS
April 30, 2026 (Unaudited)(Continued)
NOTE 12 – DISTRIBUTIONS TO SHAREHOLDERS
The tax character of distributions paid by the Funds during the fiscal period ended April 30, 2026, was as follows:
 
 
 
 
 
 
 
 
 
 
 
 
 
Ordinary
Income
 
 
Capital Gains
 
 
Return of
Capital
INDQ
 
 
$—
 
 
$—
 
 
$—
USAI
 
 
2,104,000
 
 
—
 
 
—
ODDS
 
 
7,111
 
 
—
 
 
—
BULD
 
 
23,979
 
 
—
 
 
—
QQWZ
 
 
79,820
 
 
—
 
 
—
EAFG
 
 
31,958
 
 
—
 
 
—
QSIX
 
 
304,240
 
 
—
 
 
—
QDPL
 
 
35,211,867
 
 
—
 
 
—
PEVC
 
 
147,690
 
 
—
 
 
—
LCOW
 
 
61,906
 
 
—
 
 
—
QFHD
 
 
4,428
 
 
—
 
 
—
QFRD
 
 
321
 
 
—
 
 
—
MCOW
 
 
1,402
 
 
—
 
 
—
SCOW
 
 
3,432
 
 
—
 
 
—
FOWF
 
 
27,026
 
 
—
 
 
—
PSCW
 
 
—
 
 
—
 
 
—
PSCX
 
 
—
 
 
—
 
 
—
PSCJ
 
 
—
 
 
—
 
 
—
PSCQ
 
 
—
 
 
—
 
 
—
PSFM
 
 
—
 
 
—
 
 
—
PSFD
 
 
—
 
 
—
 
 
—
PSFJ
 
 
—
 
 
—
 
 
—
PSFO
 
 
—
 
 
—
 
 
—
PSFF
 
 
—
 
 
—
 
 
—
PSMR
 
 
—
 
 
—
 
 
—
PSMD
 
 
—
 
 
—
 
 
—
PSMJ
 
 
—
 
 
—
 
 
—
PSMO
 
 
—
 
 
—
 
 
—
MILK
 
 
411,487
 
 
—
 
 
—
 
 
 
 
 
 
 
 
 
 
The tax character of distributions paid by the Funds during the fiscal year ended October 31, 2025, was as follows:
 
 
 
 
 
 
 
 
 
 
 
 
 
Ordinary
Income
 
 
Capital Gains
 
 
Return of
Capital
USAI
 
 
$1,040,172
 
 
$—
 
 
$3,065,828
ODDS
 
 
46,758
 
 
—
 
 
—
BULD
 
 
1,847
 
 
—
 
 
—
QQWZ
 
 
4,593
 
 
—
 
 
—
EAFG
 
 
12,632
 
 
—
 
 
—
QSIX
 
 
​84,387
 
 
​14,176
 
 
253,062
QDPL
 
 
​14,557,947
 
 
​1,842,231
 
 
37,414,401
PEVC
 
 
4,999
 
 
—
 
 
—
LCOW
 
 
21,117
 
 
—
 
 
—
MCOW
 
 
—
 
 
—
 
 
—
SCOW
 
 
—
 
 
—
 
 
—
 
 
 
 
 
 
 
 
 
 
 
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Pacer Funds
NOTES TO FINANCIAL STATEMENTS
April 30, 2026 (Unaudited)(Continued)
 
 
 
 
 
 
 
 
 
 
 
 
 
Ordinary
Income
 
 
Capital Gains
 
 
Return of
Capital
FOWF
 
 
$12,515
 
 
$—
 
 
$—
PSCW
 
 
—
 
 
—
 
 
—
PSCX
 
 
—
 
 
—
 
 
—
PSCJ
 
 
—
 
 
—
 
 
—
PSCQ
 
 
—
 
 
—
 
 
—
PSFM
 
 
—
 
 
—
 
 
—
PSFD
 
 
—
 
 
—
 
 
—
PSFJ
 
 
—
 
 
—
 
 
—
PSFO
 
 
—
 
 
—
 
 
—
PSFF
 
 
—
 
 
—
 
 
—
PSMR
 
 
—
 
 
—
 
 
—
PSMD
 
 
—
 
 
—
 
 
—
PSMJ
 
 
—
 
 
—
 
 
—
PSMO
 
 
—
 
 
—
 
 
—
MILK
 
 
189,412
 
 
—
 
 
—
 
 
 
 
 
 
 
 
 
 
INDQ, QFHD and QFRD commenced operations after October 31, 2025.
NOTE 13 – RISKS
On February 24, 2022, Russia commenced a military attack on Ukraine. The outbreak of hostilities between the two countries could result in more widespread conflict and could have a severe adverse effect on the region and the markets. In addition, sanctions imposed on Russia by the United States and other countries, and any sanctions imposed in the future could have a significant adverse impact on the Russian economy and related markets. The price and liquidity of investments may fluctuate widely as a result of the conflict and related events. How long such conflict and related events will last and whether it will escalate further cannot be predicted, nor its effect on the Funds.
NOTE 14 – SUBSEQUENT EVENTS
Effective May 1, 2026, the adviser fee for PSCW, PSCX, PSCJ, PSCQ, PSFM, PSFD, PSFJ, PSFO, PSMR, PSMD, PSMJ and PSMO changed from 0.60% to 0.49%. The adviser fee for PSFF changed from 0.12% to 0.10%.
On May 20, 2026, the following Funds declared a distribution from ordinary income to shareholders of record as of May 21, 2026, Payable May 26, 2026, as follows:
 
 
 
 
 
 
 
 
 
 
Ordinary
Income
 
 
Per Share
Amount
USAI
 
 
$368,000
 
 
$ 0.16000000
MILK
 
 
73,101
 
 
0.10750100
 
 
 
 
 
 
 
On May 28, 2026, the following Funds declared a distribution from ordinary income to shareholders of record as of May 29, 2026, Payable June 1, 2026, as follows:
 
 
 
 
 
 
 
 
 
 
Ordinary
Income
 
 
Per Share
Amount
QSIX
 
 
$59,040
 
 
$ 0.13120000
QDPL
 
 
5,131,539
 
 
0.14290000
 
 
 
 
 
 
 
 
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Pacer Funds
NOTES TO FINANCIAL STATEMENTS
April 30, 2026 (Unaudited)(Continued)
On June 3, 2026, the following Funds declared a distribution from ordinary income to shareholders of record as of June 4, 2026, Payable June 8, 2026, as follows:
 
 
 
 
 
 
 
 
 
 
Ordinary
Income
 
 
Per Share
Amount
ODDS
 
 
$18,689
 
 
$0.11680481
QQWZ
 
 
85,167
 
 
0.07248236
EAFG
 
 
22,661
 
 
0.22661410
PEVC
 
 
2,734
 
 
0.03417150
LCOW
 
 
​39,146
 
 
​0.03914612
QFHD
 
 
4,857
 
 
0.24285050
QFRD
 
 
913
 
 
0.02282500
MCOW
 
 
849
 
 
0.01698300
SCOW
 
 
1,939
 
 
0.02585720
FOWF
 
 
53,765
 
 
0.11947751
 
 
 
 
 
 
 
On June 24, 2026, the following Funds declared a distribution from ordinary income to shareholders of record as of June 25, 2026, Payable June 29, 2026, as follows:
 
 
 
 
 
 
 
 
 
 
Ordinary
Income
 
 
Per Share
Amount
USAI
 
 
$392,000
 
 
$0.16000000
MILK
 
 
77,401
 
 
0.10750100
 
 
 
 
 
 
 
 
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Pacer Funds
Additional Information
NOTE 1 – FREQUENCY DISTRIBUTION OF PREMIUMS AND DISCOUNTS
Information regarding how often shares of the Funds trade on the Exchange at a price above (i.e., at a premium) or below (i.e., at a discount) the NAV of the Funds is available on the Funds’ website at www.PacerETFs.com.
NOTE 2 – FEDERAL TAX INFORMATION
Qualified Dividend Income/Dividends Received Deduction
For the fiscal year ended October 31, 2025, certain dividends paid by the Funds may be subject to a maximum tax rate of 23%, as provided for by the Tax Cuts and Jobs Act of 2017.
The percentage of dividends declared from ordinary income designated as qualified dividend income (QDI) was as follows:
 
 
 
 
 
 
 
QDI
USAI
 
 
100.00%
ODDS
 
 
39.07%
BULD
 
 
100.00%
QQWZ
 
 
100.00%
EAFG
 
 
76.05%
QSIX
 
 
100.00%
QDPL
 
 
100.00%
PEVC
 
 
9.49%
LCOW
 
 
100.00%
MCOW
 
 
0.00%
SCOW
 
 
0.00%
FOWF
 
 
100.00%
PSCW
 
 
0.00%
PSCX
 
 
0.00%
PSCJ
 
 
0.00%
PSCQ
 
 
0.00%
PSFM
 
 
0.00%
PSFD
 
 
0.00%
PSFJ
 
 
0.00%
PSFO
 
 
0.00%
PSFF
 
 
0.00%
PSMR
 
 
0.00%
PSMD
 
 
0.00%
PSMJ
 
 
0.00%
PSMO
 
 
0.00%
MILK
 
 
0.00%
 
 
 
 
INDQ, QFHD and QFRD commenced operations after October 31, 2025.
For corporate shareholders, the percent of ordinary income distributions qualifying for the corporate dividends received deduction (DRD) for the fiscal year ended October 31, 2025 was as follows:
 
 
 
 
 
 
 
DRD
USAI
 
 
100.00%
ODDS
 
 
0.46%
BULD
 
 
50.23%
QQWZ
 
 
100.00%
EAFG
 
 
0.00%
QSIX
 
 
100.00%
QDPL
 
 
100.00%
PEVC
 
 
8.97%
 
 
 
 
 
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Pacer Funds
Additional Information(Continued)
 
 
 
 
 
 
 
DRD
LCOW
 
 
100.00%
MCOW
 
 
0.00%
SCOW
 
 
0.00%
FOWF
 
 
100.00%
PSCW
 
 
0.00%
PSCX
 
 
0.00%
PSCJ
 
 
0.00%
PSCQ
 
 
0.00%
PSFM
 
 
0.00%
PSFD
 
 
0.00%
PSFJ
 
 
0.00%
PSFO
 
 
0.00%
PSFF
 
 
0.00%
PSMR
 
 
0.00%
PSMD
 
 
0.00%
PSMJ
 
 
0.00%
PSMO
 
 
0.00%
MILK
 
 
0.00%
 
 
 
 
INDQ, QFHD and QFRD commenced operations after October 31, 2025.
The Percentage of taxable ordinary income distributions that are designated as short-term capital gain (STCG) distributions under Internal Revenue Section 871(k)(2)(C) for each Fund were as follows.
 
 
 
 
 
 
 
STCG
USAI
 
 
0.00%
ODDS
 
 
0.00%
BULD
 
 
0.00%
QQWZ
 
 
0.00%
EAFG
 
 
0.00%
QSIX
 
 
26.04%
QDPL
 
 
10.25%
PEVC
 
 
0.00%
LCOW
 
 
0.00%
MCOW
 
 
0.00%
SCOW
 
 
0.00%
FOWF
 
 
0.00%
PSCW
 
 
0.00%
PSCX
 
 
0.00%
PSCJ
 
 
0.00%
PSCQ
 
 
0.00%
PSFM
 
 
0.00%
PSFD
 
 
0.00%
PSFJ
 
 
0.00%
PSFO
 
 
0.00%
PSFF
 
 
0.00%
PSMR
 
 
0.00%
PSMD
 
 
0.00%
PSMJ
 
 
0.00%
PSMO
 
 
0.00%
MILK
 
 
0.00%
 
 
 
 
INDQ, QFHD and QFRD commenced operations after October 31, 2025.
 
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Pacer Funds
Additional Information(Continued)
Foreign Tax Credit Pass Through
Pursuant to Section 853 of the Internal Revenue Code, the following Funds designate the following amounts as foreign taxes paid for the year ended October 31, 2025. Foreign taxes paid for purposes of Section 853 may be less than actual foreign taxes paid for financial statement purposes.
 
 
 
 
 
 
 
 
 
 
Fund
 
 
Gross Foreign
Source Income
 
 
Foreign Taxes
Passthrough
 
 
Per Share
 
Gross Foreign
Source Income
 
 
Foreign Taxes
Passthrough
USAI
 
 
$—
 
 
$—
 
 
$—
 
 
$—
ODDS
 
 
60,531
 
 
2,052
 
 
0.38
 
 
0.01
BULD
 
 
—
 
 
—
 
 
—
 
 
—
QQWZ
 
 
—
 
 
—
 
 
—
 
 
—
EAFG
 
 
31,578
 
 
3,377
 
 
0.25
 
 
0.03
QSIX
 
 
—
 
 
—
 
 
—
 
 
—
QDPL
 
 
—
 
 
—
 
 
—
 
 
—
PEVC
 
 
—
 
 
—
 
 
—
 
 
—
LCOW
 
 
—
 
 
—
 
 
—
 
 
—
MCOW
 
 
—
 
 
—
 
 
—
 
 
—
SCOW
 
 
—
 
 
—
 
 
—
 
 
—
FOWF
 
 
—
 
 
—
 
 
—
 
 
—
PSCW
 
 
—
 
 
—
 
 
—
 
 
—
PSCX
 
 
—
 
 
—
 
 
—
 
 
—
PSCJ
 
 
—
 
 
—
 
 
—
 
 
—
PSCQ
 
 
—
 
 
—
 
 
—
 
 
—
PSFM
 
 
—
 
 
—
 
 
—
 
 
—
PSFD
 
 
—
 
 
—
 
 
—
 
 
—
PSFJ
 
 
—
 
 
—
 
 
—
 
 
—
PSFO
 
 
—
 
 
—
 
 
—
 
 
—
PSFF
 
 
—
 
 
—
 
 
—
 
 
—
PSMR
 
 
—
 
 
—
 
 
—
 
 
—
PSMD
 
 
—
 
 
—
 
 
—
 
 
—
PSMJ
 
 
—
 
 
—
 
 
—
 
 
—
PSMO
 
 
—
 
 
—
 
 
—
 
 
—
MILK
 
 
—
 
 
—
 
 
—
 
 
—
 
 
 
 
 
 
 
 
 
 
 
 
 
INDQ, QFHD and QFRD commenced operations after October 31, 2025.
Foreign taxes paid or withheld should be included in taxable income with an offsetting deduction from gross income or as a credit for taxes paid to foreign governments.
Above figures may differ from those cited elsewhere in this report due to difference in the calculation of income and gains under GAAP purposes and Internal Revenue Service purposes.
Shareholders are strongly advised to consult their own tax advisers with respect to the tax consequences of their investments in the Funds.
NOTE 3 – DISCLOSURE OF PORTFOLIO HOLDINGS
The Funds files their complete schedule of portfolio holdings for their first and third fiscal quarters with the Securities and Exchange Commission (“SEC”) on Part F of Form N-PORT. The Funds’ Part F of Form N-PORT is available on the website of the SEC at www.sec.gov. Each Fund’s portfolio holdings are posted daily on its website at www.PacerETFs.com.
 
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Pacer Funds
Additional Information(Continued)
NOTE 4 – PROXY VOTING POLICIES AND PROCEDURES
A description of the policies and procedures the Funds use to determine how to vote proxies relating to portfolio securities is provided in the Statement of Additional Information (“SAI”). The SAI is available without charge upon request by calling toll-free at (800) 617-0004, by accessing the SEC’s website at www.sec.gov, or by accessing the Funds’ website at www.PacerETFS.com. Information how the Funds voted proxies relating to portfolio securities during the year ended June 30 is available without charge, upon request, by calling (800) 617-0004 or by accessing the website of the SEC.
NOTE 5 – BOARD CONSIDERATIONS IN APPROVING THE INVESTMENT ADVISORY AGREEMENT FOR THE FUNDS
EAFG, BULD and ODDS
The Board of Trustees (the “Board”) of Pacer Funds Trust (the “Trust”), including the Trustees thereof who are not “interested persons,” as defined by the Investment Company Act of 1940, as amended (the “1940 Act”), of the Trust (the “Independent Trustees”), held a meeting on March 18, 2026 (the “Meeting”) for the purpose of, among other things, the consideration of, and voting on, the proposed renewal of the investment advisory agreement (the “Investment Advisory Agreement”) between the Trust and Pacer Advisors, Inc. (the “Adviser”), relating to Pacer Bluestar Engineering the Future ETF, Pacer BlueStar Digital Entertainment ETF and Pacer Developed Markets Cash Cows Growth Leaders ETF (each, a “Fund” and together, the “Funds”).
The Board, including a majority of the Trust’s Independent Trustees voting separately, approved the Investment Advisory Agreement as it relates to each Fund at the Meeting, based on its review of qualitative and quantitative information provided by the Adviser as well as the Trust’s other service providers. Prior to deciding to approve the Investment Advisory Agreement at the Meeting, the Independent Trustees requested and obtained from the Adviser such information as the Independent Trustees deemed reasonably necessary to evaluate the terms of the Investment Advisory Agreement. The Independent Trustees received assistance and advice from, and met separately with, independent counsel. In addition, the Independent Trustees received a memorandum from independent counsel regarding the responsibilities of the Board with respect to the approval of the Investment Advisory Agreement.
Representatives from the Adviser presented additional information and participated in question-and-answer sessions at the Meeting to help the Board evaluate the Adviser’s services, fees and other aspects of the Investment Advisory Agreement. Independent Trustee Counsel reviewed the factors the Trustees should consider in approving the Investment Advisory Agreement including the following to the extent applicable: (1) the nature, quality and extent of the services to be provided by the Adviser; (2) the cost of the services provided and the profits realized by the Adviser from services rendered to the Funds; (3) comparative fee and expense data for each Fund and other investment companies with similar investment objectives; (4) the extent to which economies of scale would be realized as a Fund’s assets grew and whether the advisory fee payable to the Adviser reflects these economies of scale; and (5) other incidental and “fall-out” benefits to the Adviser and its affiliates resulting from services rendered to the Funds.
The Board, including the Independent Trustees evaluated these factors and various materials in connection with the approval process, including: (1) a copy of the Investment Advisory Agreement; (2) the Adviser’s responses to questionnaires designed to provide the Board with information reasonably necessary to evaluate the terms of the Investment Advisory Agreement; (3) the Adviser’s Form ADV disclosures; (4) information describing the nature, quality and extent of services that the Adviser is prepared to provide to the Funds; (5) the advisory fee payable by each Fund to the Adviser for its services; (6) certain comparative information prepared by Broadridge Financial Solutions (“Broadridge”) regarding each Fund’s fees and expenses relative to the fees and expenses of other comparable funds; (7) each Fund’s performance relative to its underlying index; (8) a copy of the Trust’s registration statement and prospectuses; and (9) information regarding the ownership and management structure, financial condition, and compliance program of the Adviser.
In considering the approval of the Investment Advisory Agreement, the Board considered various factors that the Trustees determined were relevant, including: (i) the nature, extent and quality of the services to be provided by the Adviser; (ii) the costs and benefits, including the fee to be paid to the Adviser by each Fund, of the advisory services to be provided to each Fund; and (iii) potential economies of scale.
 
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Pacer Funds
Additional Information(Continued)
• Nature, Extent and Quality of Services to be Provided by the Adviser. The Board reviewed the scope of services to be provided by the Adviser under the Investment Advisory Agreement. In this regard, the Trustees reviewed each Fund’s investment goal and investment strategy, and the Adviser’s ability to implement such investment goal and/or investment strategy, including, but not limited to, trading practices. In addition, the Trustees reviewed the management team at the Adviser that would be responsible for managing each Fund, including staffing, skills and compensation program, and considered various other Funds advised by the Adviser and any potential conflicts.
Based on its review, the Board determined that the Adviser is capable of providing all necessary advisory services required by each Fund, as indicated by the Adviser’s management capabilities, the professional qualifications and experience of its portfolio management personnel and the performance of the Funds relative to their respective tracking and underlying indexes. The Board reviewed, a comparison of each Fund’s performance for the one-year, three-year, five-year, and since inception periods ended December 31, 2025 (as applicable), to that of its underlying index and that, during the year, the Board received periodic reports on each Fund’s short- and longer-term performance in comparison with its tracking and underlying index. The Board noted that each of the Fund’s generally performed in line with its tracking index and received explanations for any differences in performance from its underlying index over the relevant periods. The Board also considered other services provided to the Funds by the Adviser, where relevant, such as selecting broker-dealers for executing portfolio transactions, monitoring adherence to each Fund’s investment restrictions, and monitoring compliance with various policies and procedures and with applicable securities regulations.
Based on the factors above, as well as those discussed below, the Board concluded, within the context of its full deliberations, that it was satisfied with the nature, extent and quality of the services provided and to be provided to the Funds by the Adviser.
• Costs and Benefits of Advisory Services to be Provided to the Funds. In considering the advisory fees payable by each Fund to the Adviser and each Fund’s expense ratio, the Board reviewed statistical information prepared by Broadridge regarding the expense ratio components, including gross and net total expenses of each Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund’s applicable peer group (“Peer Group”) pursuant to Broadridge’s proprietary ETF methodology. The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine each Fund’s peer group. The Board noted that, due to the limitations in providing comparable funds in a peer group, the statistical information provided in Broadridge’s report may or may not provide meaningful direct comparisons to a Fund in all instances. The Board compared each Fund’s expense ratio to the expense ratios of funds in its Peer Group, focusing on whether each Fund was charged fees that were within the range of fees charged by those in the Peer Group. It also noted that the Adviser had contractually agreed to pay the operating expenses of each Fund, including the cost of transfer agency, custody, fund administration, legal, audit and other services, except interest, taxes, brokerage commissions and other expenses in connection with the execution of portfolio transactions, and extraordinary and non-routine expenses. It was noted that this contractual agreement cannot be changed without shareholder approval. The Board also evaluated the compensation and incidental or “fall-out” benefits received (or proposed or likely to be received) by the Adviser from its relationship with the Funds, taking into account assessments of the Adviser’s profitability prepared and shared by the Adviser’s management.
Based on the factors above, as well as those discussed below, the Board concluded, within the context of its full deliberations, that each Fund’s advisory fee was reasonable in light of the nature and quality of the services expected to be rendered by the Adviser.
• Economies of Scale. The Board also reviewed and considered the extent to which economies of scale would be realized by the Adviser as the assets of the Funds may grow in the future. In considering the extent to which economies of scale would be realized as the Funds grow and whether advisory fee levels reflect those economies of scale for the benefit of the Funds’ investors, the Trustees considered that each Fund’s fee arrangement with the Adviser involved a contractual commitment by the Adviser to pay the operating expenses of each Fund. The Board reviewed the Adviser’s methodology for calculating estimated profitability as it relates to each Fund, noting that profitability may be affected by numerous factors, including, among others, the types of funds managed and expense allocations. The Board acknowledged the difficulty in calculating and comparing profitability at the individual fund level. For each Fund the Trustees considered that, while the investment advisory fee would remain the same at all asset levels, the Funds’ shareholders benefited from the Adviser’s commitment to pay each Fund’s operating expenses out of its investment advisory fee. Additionally, in consideration of potential economies of scale as the assets of each Fund increase, the
 
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Adviser presented and reviewed advisory fee breakpoints for discussion by the Trustees. The Board also considered the Adviser’s decision to lower its advisory fee for a number of Funds over the past year to improve overall positioning within their respective peer groups.
Overall Findings and Conclusions of the Board
Based on its deliberations and its evaluation of the information described above, at the Meeting, respectively, the Board, including the Independent Trustees: (a) concluded that the terms of the Investment Advisory Agreement with respect to each Fund are fair and reasonable; (b) concluded that the Adviser’s fees are reasonable in light of the nature and quality of the services expected to be rendered by the Adviser to each Fund; and (c) agreed to approve the renewal of the Investment Advisory Agreement as to each Fund for an additional annual period. In its deliberations at the Meeting, the Board did not identify any particular factor (or conclusion with respect thereto) or single piece of information that was all-important, controlling or determinative of its decision, but considered all of the factors together, and each Trustee may have attributed different weights to the various factors (and conclusions with respect thereto) and information.
QDPL and QSIX
The Board of Trustees (the “Board”) of Pacer Funds Trust (the “Trust”), including the Trustees thereof who are not “interested persons,” as defined by the Investment Company Act of 1940, as amended (the “1940 Act”), of the Trust (the “Independent Trustees”), held a meeting (the “Meeting”) for the purpose of, among other things, the consideration of, and voting on, the proposed renewal of the investment advisory agreement (the “Investment Advisory Agreement”) between the Trust and Pacer Advisors, Inc. (the “Adviser”) with respect to Pacer Metaurus US Large Cap Target Dividend Multiplier 400 ETF (“QDPL” or a “Fund”), and Pacer Metaurus Large Cap Growth Dividend Multiplier 600 ETF (“QSIX” or a “Fund”, collectively with QDPL referred to as the “Funds”), and the proposed renewal of an investment sub-advisory agreement (the “Sub-Advisory Agreement”) between the Adviser and Metaurus Advisors, LLC (the “Sub-Adviser”) with respect to the Funds. 
The Board, including a majority of the Trust’s Independent Trustees voting separately, approved the renewal of the Investment Advisory Agreement and the Sub-Advisory Agreement on behalf of the Funds at the Meeting, based on its review of qualitative and quantitative information provided by the Adviser and the Sub-Adviser, as well as the Trust’s other service providers. Prior to deciding to approve the renewal of the Investment Advisory Agreement and the Sub-Advisory Agreement for the Funds at the Meeting, the Independent Trustees requested and obtained from the Adviser and the Sub-Adviser such information as the Independent Trustees deemed reasonably necessary to evaluate the terms of the Investment Advisory Agreement and the Sub-Advisory Agreement. The Independent Trustees received assistance and advice from, and met separately with, independent counsel. In addition, the Independent Trustees received a memorandum from independent counsel regarding the responsibilities of the Board with respect to the approval of the renewal of the Investment Advisory Agreement and the Sub-Advisory Agreement.
Representatives from the Adviser and the Sub-Adviser presented additional information and participated in question-and-answer sessions at the Meeting to help the Board evaluate the Adviser’s and Sub-Adviser’s services, fees and other aspects of the Advisory Agreement and Sub-Advisory Agreement. Independent Trustee Counsel reviewed the factors the Trustees should consider in approving the Advisory Agreement and Sub-Advisory Agreement including the following to the extent applicable: (1) the nature, quality and extent of the services to be provided by the Adviser and/or Sub-Adviser; (2) the cost of the services provided and the profits realized by the Adviser and/or Sub-Adviser from services rendered to the Trust; (3) comparative fee and expense data for other investment companies with similar investment objectives; (4) the extent to which economies of scale would be realized as the Trust’s assets grew and whether the advisory fee payable to the Adviser reflects these economies of scale; and (5) other incidental and “fall-out” benefits to the Adviser, the Sub-Adviser and their respective affiliates resulting from services rendered to the Trust.
The Board, including the Independent Trustees evaluated these factors and various materials in connection with the approval process, including: (1) a copy of the Advisory Agreement and the Sub-Advisory Agreement; (2) the Adviser’s and Sub-Adviser’s responses to questionnaires designed to provide the Board with information reasonably necessary to evaluate the terms of the Advisory Agreement and the Sub-Advisory Agreement; (3) the Adviser’s and Sub-Adviser’s Form ADV disclosures; (4) information describing the nature, quality and extent of services that the Adviser and Sub-Adviser are prepared to provide to the Funds; (5) the advisory fee payable by each Fund to the Adviser for its services and the sub-advisory fee payable to the Sub-Adviser by the Adviser under the Sub-Advisory Agreement;
 
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(6) certain comparative information prepared by Broadridge Financial Solutions (“Broadridge”) regarding each Fund’s fees and expenses relative to the fees and expenses of other comparable funds; (7) performance and tracking error information as it relates to the Fund’s underlying index; (8) a copy of the Trust’s registration statement and prospectuses; and (9) information regarding the ownership and management structure, financial condition, and compliance program of the Adviser and Sub-Adviser
In considering the approval of the Advisory Agreement and the Sub-Advisory Agreement, respectively, the Board considered various factors that the Trustees determined were relevant, including: (i) the nature, extent and quality of the services to be provided by the Adviser and Sub-Adviser, including the performance of the Adviser and Sub-Adviser with respect to each Fund; (ii) the costs and benefits, including the fees to be paid to the Adviser by the Funds, of the advisory services to be provided to each Fund; (iii) the fee paid to the Sub-Adviser by the Adviser; and (iv) potential economies of scale.
Nature, Extent and Quality of Services to be Provided by the Adviser and the Sub-Adviser. The Board reviewed the scope of services provided by the Adviser under the Investment Advisory Agreement and the Sub-Adviser under the Sub-Advisory Agreement. In this regard, the Trustees reviewed each Fund’s investment goal and investment strategy, and the Adviser’s and the Sub-Adviser’s ability to implement such investment goal and/or investment strategy, including, but not limited to, trading practices. With respect to sub-advisory services to be provided by the Sub-Adviser, the Board noted that the Sub-Adviser has assets allocated to it by the Adviser and considered the Sub-Adviser’s ability to ensure compliance with each Fund’s strategies, policies, and limitations. In addition, the Trustees reviewed the management team at the Adviser and the Sub-Adviser that is responsible for managing each Fund, including staffing, skills and compensation program, and considered various other portfolios advised by the Adviser and the Sub-Adviser and any potential conflicts. The Trustees also considered the strong reputation of the Sub-Adviser in the industry and the potential positive impact that might have on investment interest in each Fund. The Board also considered a report from the Trust’s Chief Compliance Officer regarding the Sub-Adviser’s compliance programs as such relates to the operation of each Fund. 
Based on its review, the Board determined that the Adviser and the Sub-Adviser are capable of providing all necessary advisory and sub-advisory services required by each Fund, as indicated by the Adviser’s and the Sub-Adviser’s management capabilities, the professional qualifications and experience of its portfolio management personnel and the performance of each Fund relative to its tracking and underlying index and other products managed by the Adviser and the Sub-Adviser with similar investment objectives and strategies as each Fund (if applicable). The Board reviewed, a comparison of each Fund’s performance for the one-year, three-year, and since inception periods ended December 31, 2025 (as applicable), to that of its underlying index and that, during the year, the Board received periodic reports on each Fund’s short- and longer-term performance in comparison with its underlying index. The Board noted that each Fund performed in line with its tracking index over the relevant periods and received information regarding any differences in a Fund’s performance relative to its underlying index. The Board also considered other services provided to each Fund by the Adviser and the Sub-Adviser, where relevant, such as selecting broker-dealers for executing portfolio transactions, monitoring adherence to each Fund’s investment restrictions, and monitoring compliance with various policies and procedures and with applicable securities regulations.
Based on the factors above, as well as those discussed below, the Board concluded, within the context of its full deliberations, that it was satisfied with the nature, extent and quality of the services provided and to be provided to each Fund by the Adviser and the Sub-Adviser, respectively.
Costs and Benefits of Advisory Services to be Provided to each Fund. In considering the advisory fees payable by each Fund to the Adviser and each Fund’s expense ratio, the Board reviewed statistical information prepared by Broadridge regarding the expense ratio components, including gross and net total expenses of each Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising each Fund’s applicable peer group (“Peer Group”) pursuant to Broadridge’s proprietary ETF methodology. The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine each Fund’s Peer Group. The Board noted that, due to the limitations in providing comparable funds in the peer group, the statistical information provided in Broadridge’s report may or may not provide meaningful direct comparisons to each Fund in all instances. The Board compared each Fund’s expense ratio to the expense ratios of funds in its Peer Group, focusing on whether each Fund was charged fees that were within the range of fees charged by those in the Peer Group. It also noted that the Adviser had contractually agreed to pay the Sub-Advisory fees and the operating expenses of each Fund, including the
 
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cost of transfer agency, custody, fund administration, legal, audit and other services, except interest, taxes, brokerage commissions and other expenses in connection with the execution of portfolio transactions, and extraordinary and non-routine expenses. It was further noted that this contractual agreement cannot be changed without shareholder approval. The Board also evaluated the compensation and incidental or “fall-out” benefits received by the Adviser from its relationship with each Fund, considering the Adviser’s profitability analysis prepared and shared by the Adviser’s management.
Based on the factors above, as well as those discussed below, the Board concluded, within the context of its full deliberations, that each Fund’s advisory fee was reasonable in light of the nature and quality of the services expected to be rendered by the Adviser.
• Costs and Benefits of Sub-Adviser’s Services to be Provided to each Fund. The Board noted that the sub-advisory fees paid to the Sub-Adviser are paid by the Adviser and would not be additional fees to be borne by each Fund. The Board also noted that the sub-advisory fees were the product of arms-length negotiations between the Adviser and the Sub-Adviser. In considering the sub-advisory fees payable by the Adviser to the Sub-Adviser, the Board evaluated the compensation and benefits received or likely to be received by the Sub-Adviser from the Adviser relating to the services provided to each Fund. Based on the factors above, as well as those discussed below, the Board concluded, within the context of its full deliberations, that the sub-advisory fees payable to the Sub-Adviser under the Sub-Advisory Agreement with the Adviser were reasonable in light of the nature and quality of the services rendered and, where relevant, expected to be rendered by the Sub-Adviser.
• Economies of Scale. The Board also reviewed and considered the extent to which economies of scale would be realized by the Adviser and the Sub-Adviser as the assets of each Fund may grow in the future. In considering the extent to which economies of scale would be realized as each Fund grows and whether advisory fee levels reflect those economies of scale for the benefit of each Fund’s investors, the Trustees considered that each Fund’s fee arrangement with the Adviser involved a contractual commitment by the Adviser to pay the operating expenses of each Fund. The Board reviewed the Adviser’s methodology for calculating estimated profitability of each Fund, noting that profitability may be affected by numerous factors, including, among others, the types of funds managed and expense allocations. The Board acknowledged the difficulty in calculating and comparing profitability at the individual fund level. For each Fund the Trustees considered that, while the investment advisory fee would remain the same at all asset levels, each Fund’s shareholders benefited from the Adviser’s commitment to pay the Funds’ operating expenses out of its investment advisory fee.
Overall Findings and Conclusions of the Board
Based on its deliberations and its evaluation of the information described above as it relates to the Fund, at the Meeting, respectively, the Board, including the Independent Trustees: (a) concluded that the terms of the Investment Advisory Agreement with respect to each Fund are fair and reasonable; (b) concluded that the terms of the Sub-Advisory Agreement with respect to each Fund are fair and reasonable; (c) concluded that the Adviser’s fees are reasonable in light of the nature and quality of the services expected to be rendered by the Adviser to each Fund; (d) concluded that the Sub-Adviser’s fees are reasonable in light of the nature and quality of the services expected to be rendered to each Fund by the Sub- Advisor; (e) agreed to approve the Investment Advisory Agreement as to each Fund; and (f) agreed to approve the Sub-Advisory Agreement for each Fund. In its deliberations at the Meeting, the Board did not identify any particular factor (or conclusion with respect thereto) or single piece of information that was all-important, controlling or determinative of its decision, but considered all of the factors together, and each Trustee may have attributed different weights to the various factors (and conclusions with respect thereto) and information.
INDQ
The Board of Trustees (the “Board”) of Pacer Funds Trust (the “Trust”), including the Trustees thereof who are not “interested persons,” as defined by the Investment Company Act of 1940, as amended (the “1940 Act”), of the Trust (the “Independent Trustees”), held a meeting (the “Meeting”) for the purpose of, among other things, the consideration of, and voting on, the proposed approval of the investment advisory agreement (the “Investment Advisory Agreement”) between the Trust and Pacer Advisors, Inc. (the “Adviser”), relating to Pacer ActiveAlpha India Quality ETF (the “Fund”) and the proposed investment sub-advisory agreement (the “Sub-Advisory Agreement”) between the Adviser and ActiveAlpha Investment Advisors (the “Sub-Adviser”) with respect to the Fund. 
 
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The Board, including a majority of the Trust’s Independent Trustees voting separately, approved the Investment Advisory Agreement and the Sub-Advisory Agreement on behalf of the Fund at the Meeting, based on its review of qualitative and quantitative information provided by the Adviser and the Sub-Adviser, as well as the Trust’s other service providers. Prior to deciding to approve the Investment Advisory Agreement and the Sub-Advisory Agreement for the Fund at the Meeting, the Independent Trustees requested and obtained from the Adviser and the Sub-Adviser such information as the Independent Trustees deemed reasonably necessary to evaluate the terms of the Investment Advisory Agreement and the Sub-Advisory Agreement. The Independent Trustees received assistance and advice from, and met separately with, independent counsel. In addition, the Independent Trustees received a memorandum from independent counsel regarding the responsibilities of the Board with respect to the approval of the Investment Advisory Agreement and the Sub-Advisory Agreement.
Representatives from the Adviser and the Sub-Adviser presented additional information and participated in question-and-answer sessions at the Meeting to help the Board evaluate the Adviser’s and Sub-Adviser’s services, fees and other aspects of the Advisory Agreement and Sub-Advisory Agreement. Independent Trustee Counsel reviewed the factors the Trustees should consider in approving the Advisory Agreement and Sub-Advisory Agreement including the following to the extent applicable: (1) the nature, quality and extent of the services to be provided by the Adviser and/or Sub-Adviser; (2) the cost of the services provided and the profits realized by the Adviser and/or Sub-Adviser from services rendered to the Trust; (3) comparative fee and expense data for other investment companies with similar investment objectives; (4) the extent to which economies of scale would be realized as the Trust’s assets grew and whether the advisory fee payable to the Adviser reflects these economies of scale; and (5) other incidental and “fall-out” benefits to the Adviser, the Sub-Adviser and their respective affiliates resulting from services rendered to the Trust.
The Board, including the Independent Trustees evaluated these factors and various materials in connection with the approval process, including: (1) a copy of the Advisory Agreement and the Sub-Advisory Agreement; (2) the Adviser’s and Sub-Adviser’s responses to questionnaires designed to provide the Board with information reasonably necessary to evaluate the terms of the Advisory Agreement and the Sub-Advisory Agreement; (3) the Adviser’s and Sub-Adviser’s Form ADV disclosures; (4) information describing the nature, quality and extent of services that the Adviser and Sub-Adviser are prepared to provide to the Fund; (5) the advisory fee payable by the Fund to the Adviser for its services and the sub-advisory fee payable to the Sub-Adviser by the Adviser under the Sub-Advisory Agreement; (6) certain comparative information prepared by Broadridge Financial Solutions (“Broadridge”) regarding the Fund’s fees and expenses relative to the fees and expenses of other comparable funds; (7) a copy of the Trust’s registration statement and prospectus; and (8) information regarding the ownership and management structure, financial condition, and compliance program of the Adviser and Sub-Adviser.
In considering the approval of the Advisory Agreement and the Sub-Advisory Agreement, respectively, the Board considered various factors that the Trustees determined were relevant, including: (i) the nature, extent and quality of the services to be provided by the Adviser and Sub-Adviser; (ii) the costs and benefits, including the fees to be paid to the Adviser by the Fund, of the advisory services to be provided to the Fund; (iii) the fee paid to the Sub-Adviser by the Adviser; and (iv) potential economies of scale
Nature, Quality, and Extent of Services and Investment Performance to be Provided by the Adviser
The Trustees considered the scope of services to be provided under the Advisory Agreement and the Sub-Advisory Agreement, noting that the Adviser and Sub-Adviser will be providing investment management services to the Fund. In considering the nature, extent and quality of the services to be provided by the Adviser and the Sub-Adviser, the Board reviewed the management services to be provided by the Adviser and the portfolio management services to be provided by the Sub-Adviser. Among other things, the Trustees considered the quality of the Sub-Adviser’s portfolio management personnel. The Adviser’s registration form (“Form ADV”) was provided to the Trustees, as was the Adviser’s response to the 15(c) Questionnaire which included, among other things, information about the background and experience of the personnel primarily responsible for the day-to-day management of the Fund. The Trustees discussed the index that the Fund will track and the manner in which the Adviser and the Sub-Adviser would manage the Fund pursuant to such strategy. The Trustees also considered other services to be provided to the Fund by the Adviser and/or Sub-Adviser, such as selecting broker-dealers for executing portfolio transactions, monitoring adherence to the Fund’s investment restrictions, and monitoring compliance with various Fund policies and procedures with applicable securities regulations. Based on the factors above, as well as those discussed below, the Trustees concluded that they were satisfied with the nature, extent and quality of the services to be provided to the Fund by the Adviser.
 
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Nature, Extent and Quality of Services to be Provided by the Sub-Adviser.
The Board reviewed the scope of services to be provided by the Sub-Adviser under the Sub-Advisory Agreement. In this regard, the Trustees reviewed the Fund’s investment objective and investment strategy, and the Sub-Adviser’s ability to implement such investment objective and/or investment strategy, including, but not limited to, trading practices. With respect to sub-advisory services to be provided by the Sub-Adviser, the Board noted that the Sub-Adviser will have assets allocated to it by the Adviser and considered the Sub-Adviser’s ability to ensure compliance with the Fund’s strategies, policies, and limitations. In addition, the Trustees reviewed the management team at the Sub-Adviser that is responsible for managing the Fund, including staffing, skills and compensation program, and considered various other portfolios advised by the Sub-Adviser and any potential conflicts.
Based on its review, the Board determined that the Adviser and Sub-Adviser are capable of providing all necessary advisory and sub-advisory services required by the Fund, as indicated by the Adviser’s and Sub-Adviser’s management capabilities, the professional qualifications and experience of its portfolio management personnel. The Board also considered other services that will be provided to the Fund by the Adviser and Sub-Adviser, where relevant, such as selecting broker-dealers for executing portfolio transactions, monitoring adherence to the Fund’s investment restrictions, and monitoring compliance with various policies and procedures and with applicable securities regulations.
Cost of Adviser’s Services Provided to the Fund
In considering the advisory fees payable by the Trust to the Adviser and the Fund expense ratios, the Board reviewed statistical information prepared by Broadridge regarding the management fee and overall expense ratio components, including gross and net total expenses of the Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising the Fund’s applicable expense peer group (“Peer Group”) pursuant to Broadridge’s proprietary ETF methodology. The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine the Fund peer group. The Board noted that, due to the limitations in providing comparable funds in the peer group, the statistical information provided in Broadridge’s report may or may not provide meaningful direct comparisons to the Fund in all instances. The Trustees reviewed the proposed expense ratio and the proposed advisory fee to be paid by the Fund, considered fees paid by the respective Peer Group, and concluded that the advisory fees were reasonable and comparable to those that would result from an arm’s length negotiation. Additionally, the Trustees took into consideration that the advisory fee was a “unified fee,” meaning that the Fund would pay no expenses other than its advisory fee and certain other costs such as interest, brokerage, and extraordinary expenses and, to the extent it is implemented, fees pursuant to the Distribution Plan. The Trustees noted that the Adviser would be responsible for compensating the Trust’s other service providers and paying the Fund’s other expenses out of its own fee and resources. The Trustees also evaluated the compensation and benefits expected to be received by the Adviser from its relationship with the Fund.
Based on the factors above, as well as those discussed below, the Board concluded, within the context of its full deliberations, that the Fund advisory fee was reasonable in light of the nature and quality of the services expected to be rendered by the Adviser.
Costs and Benefits of Sub-Adviser’s Services to be Provided to the Fund.
The Board noted that the sub-advisory fees paid to the Sub-Adviser are paid by the Adviser and would not be additional fees to be borne by the Fund. The Board also noted that the sub-advisory fees were the product of arms-length negotiations between the Adviser and Sub-Adviser. In considering the sub-advisory fees payable by the Adviser to Sub-Adviser, the Board evaluated the compensation and benefits likely to be received by the Sub-Adviser from the Adviser relating to the services provided to the Fund. The Board also considered the fees charged by the Sub-Adviser to its other clients, finding that the proposed fees for its services to the Fund were lower. Based on the factors above, as well as those discussed below, the Board concluded, within the context of its full deliberations, that the sub-advisory fees payable to the Sub-Adviser under the Sub-Advisory Agreement with the Adviser were reasonable in light of the nature and quality of the services rendered and, where relevant, expected to be rendered by the Sub-Adviser.
 
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Economies of Scale.
The Board also reviewed and considered the extent to which economies of scale would be realized by the Adviser and the Sub-Adviser as the assets of the Fund may grow in the future. In considering the extent to which economies of scale would be realized as the Fund grows and whether advisory fee levels reflect those economies of scale for the benefit of the Fund’s investors, the Trustees considered that the Fund’s fee arrangement with the Adviser involved a contractual commitment by the Adviser to pay the operating expenses of the Fund. The Board reviewed the Adviser’s methodology for calculating estimated profitability of the Fund, noting that profitability may be affected by numerous factors, including, among others, the types of funds managed and expense allocations. The Board acknowledged the difficulty in calculating and comparing profitability at the individual Fund level. For the Fund, the Trustees considered that, while the investment advisory fee would remain the same at all asset levels, the Fund’s shareholders would benefit from the Adviser’s commitment to pay the Fund’s operating expenses out of its investment advisory fee.
Conclusion
Based on its deliberations and its evaluation of the information described above as it relates to the Fund, at the Meeting, respectively, the Board, including the Independent Trustees: (a) concluded that the terms of the Investment Advisory Agreement with respect to the Fund are fair and reasonable; (b) concluded that the terms of the Sub-Advisory Agreement with respect to the Fund are fair and reasonable; (c) concluded that the Adviser’s fees are reasonable in light of the nature and quality of the services expected to be rendered by the Adviser to the Fund; (d) concluded that the Sub-Adviser’s fees are reasonable in light of the nature and quality of the services expected to be rendered to the Fund by the Sub-Adviser; (e) agreed to approve the Investment Advisory Agreement as to the Fund; and (f) agreed to approve the Sub-Advisory Agreement for the Fund. In its deliberations at the Meeting, the Board did not identify any particular factor (or conclusion with respect thereto) or single piece of information that was all-important, controlling or determinative of its decision, but considered all of the factors together, and each Trustee may have attributed different weights to the various factors (and conclusions with respect thereto) and information.
QFHD and QFRD
The Board of Trustees (the “Board”) of Pacer Funds Trust (the “Trust”), including the Trustees thereof who are not “interested persons,” as defined by the Investment Company Act of 1940, as amended (the “1940 Act”), of the Trust (the “Independent Trustees”), held a meeting (the “Meeting”) for the purpose of, among other things, the consideration of, and voting on, the proposed approval of the investment advisory agreement (the “Investment Advisory Agreement”) between the Trust and Pacer Advisors, Inc. (the “Adviser”), relating to Pacer S&P 500 Quality FCF High Dividend ETF and Pacer S&P 500 Quality FCF R&D Leaders ETF (each, a “Fund” and together, the “Funds”).
The Board, including a majority of the Trust’s Independent Trustees voting separately, approved the Investment Advisory Agreement as it relates to each Fund at the Meeting, based on its review of qualitative and quantitative information provided by the Adviser as well as the Trust’s other service providers. Prior to deciding to approve the Investment Advisory Agreement at the Meeting, the Independent Trustees requested and obtained from the Adviser such information as the Independent Trustees deemed reasonably necessary to evaluate the terms of the Investment Advisory Agreement. The Independent Trustees received assistance and advice from, and met separately with, independent counsel. In addition, the Independent Trustees received a memorandum from independent counsel regarding the responsibilities of the Board with respect to the approval of the Investment Advisory Agreement.
Representatives from the Adviser presented additional information and participated in question-and-answer sessions at the Meeting to help the Board evaluate the Adviser’s services, fees and other aspects of the Investment Advisory Agreement. Independent Trustee Counsel reviewed the factors the Trustees should consider in approving the Investment Advisory Agreement including the following to the extent applicable: (1) the nature, quality and extent of the services to be provided by the Adviser; (2) the cost of the services provided and the profits realized by the Adviser from services rendered to the Funds; (3) comparative fee and expense data for each Fund and other investment companies with similar investment objectives; (4) the extent to which economies of scale would be realized as a Fund’s assets grew and whether the advisory fee payable to the Adviser reflects these economies of scale; and (5) other incidental and “fall-out” benefits to the Adviser and its affiliates resulting from services rendered to the Funds.
The Board, including the Independent Trustees evaluated these factors and various materials in connection with the approval process, including: (1) a copy of the Investment Advisory Agreement; (2) the Adviser’s responses to
 
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questionnaires designed to provide the Board with information reasonably necessary to evaluate the terms of the Investment Advisory Agreement; (3) the Adviser’s Form ADV disclosures; (4) information describing the nature, quality and extent of services that the Adviser is prepared to provide to the Funds; (5) the advisory fee payable by each Fund to the Adviser for its services; (6) certain comparative information prepared by Broadridge Financial Solutions (“Broadridge”) regarding each Fund’s fees and expenses relative to the fees and expenses of other comparable funds; (7) a copy of the Trust’s registration statement and prospectuses; and (8) information regarding the ownership and management structure, financial condition, and compliance program of the Adviser.
In considering the approval of the Investment Advisory Agreement, the Board considered various factors that the Trustees determined were relevant, including: (i) the nature, extent and quality of the services to be provided by the Adviser; (ii) the costs and benefits, including the fee to be paid to the Adviser by each Fund, of the advisory services to be provided to each Fund; and (iii) potential economies of scale.
Nature, Quality, and Extent of Services and Investment Performance to be Provided by the Adviser
The Trustees considered the scope of services to be provided under the Advisory Agreement, noting that the Adviser will be providing investment management services to each Fund. In considering the nature, extent and quality of the services to be provided by the Adviser, the Board reviewed the portfolio management services to be provided by the Adviser to each Fund and discussed these services with the Adviser. Among other things, the Trustees considered the quality of the Adviser’s portfolio management personnel and the level of services provided to the existing Funds. The Adviser’s registration form (“Form ADV”) was provided to the Trustees, as was the Adviser’s response to the 15(c) Questionnaire which included, among other things, information about the background and experience of the personnel primarily responsible for the day-to-day management of each Fund. The Trustees discussed the index that each Fund will track and the manner in which the Adviser would manage such Funds. The Trustees also considered other services to be provided to each Fund by the Adviser, such as selecting broker-dealers for executing portfolio transactions, monitoring adherence to each Fund’s investment restrictions, and monitoring compliance with various Fund policies and procedures with applicable securities regulations. Based on the factors above, as well as those discussed below, the Trustees concluded that they were satisfied with the nature, extent and quality of the services to be provided to each Fund by the Adviser.
Cost of Advisory Services Provided and Economies of Scale
In considering the advisory fees payable by the Trust to the Adviser and each Fund’s expense ratio, the Board reviewed statistical information prepared by Broadridge regarding the management fee and overall expense ratio components, including gross and net total expenses of each Fund in comparison with the same information for other ETFs, objectively selected by Broadridge as comprising a Fund’s applicable peer group (“Peer Group”) pursuant to Broadridge’s proprietary ETF methodology. The Board was provided with a detailed description of the proprietary ETF methodology used by Broadridge to determine a Fund’s peer group. The Board noted that, due to the limitations in providing comparable funds in the peer group, the statistical information provided in Broadridge’s report may or may not provide meaningful direct comparisons to a Fund in all instances. The Trustees reviewed the proposed expense ratio and the proposed advisory fee to be paid by each Fund, considered fees paid by the respective Peer Groups, and concluded that the advisory fees were reasonable and comparable to those that would result from an arm’s length negotiation. Additionally, the Trustees took into consideration that the advisory fee was a “unified fee,” meaning that each Fund would pay no expenses other than its advisory fee and certain other costs such as interest, brokerage, and extraordinary expenses and, to the extent it is implemented, fees pursuant to the Distribution Plan. The Trustees noted that the Adviser would be responsible for compensating the Trust’s other service providers and paying a Fund’s other expenses out of its own fees and resources. The Trustees also evaluated the compensation and benefits expected to be received by the Adviser from its relationship with each Fund. The Trustees then evaluated the anticipated profitability of the Adviser with respect to its costs to manage each Fund.
Based on the factors above, as well as those discussed below, the Board concluded, within the context of its full deliberations, that each Fund’s advisory fee was reasonable in light of the nature and quality of the services expected to be rendered by the Adviser. In addition, the Board also reviewed and considered the extent to which economies of scale would be realized by the Adviser as the assets of each Fund may grow in the future.
 
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Pacer Funds
Additional Information(Continued)
Conclusion
Based on its deliberations and its evaluation of the information described above, at the Meeting, the Board, including the Independent Trustees: (a) concluded that the terms of the Investment Advisory Agreement with respect to each Fund are fair and reasonable; (b) concluded that the Adviser’s fees are reasonable in light of the nature and quality of the services expected to be rendered by the Adviser to each Fund; and (c) agreed to approve the Investment Advisory Agreement as to each Fund. In its deliberations at the Meeting, the Board did not identify any particular factor (or conclusion with respect thereto) or single piece of information that was all-important, controlling or determinative of its decision, but considered all of the factors together, and each Trustee may have attributed different weights to the various factors (and conclusions with respect thereto) and information.
 
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Adviser
Pacer Advisors, Inc.
500 Chesterfield Parkway
Malvern, PA 19355
Index Provider
SL Advisors, LLC
220 Lenox Avenue, Suite 303
Westfield, New Jersey 07090
MV Index Solutions
Kreuznacher Str. 30,
60486 Frankfurt am
Main, Germany
Custodian
U.S. Bank National Association
Custody Operations
1555 North Rivercenter Drive
Milwaukee, WI 53212
Sub Adviser
Swan Global Management, LLC
20 Ridge Top Palmas Del Mar
Humacao, PR 00791
Metaurus Advisors LLC
22 Hudson Place, Third Floor
Hoboken, New Jersey 07030
Vident Asset Management
1125 Sanctuary Parkway,
Suite 515
Alpharetta, GA 30009
ActiveAlpha Investment Advisors Private Ltd.
1802 81 Aureate CTS No. 7,
Bandra West, Mumbai,
Maharashtra, 400 050, India
Distributor
Pacer Financial, Inc.
500 Chesterfield Parkway
Malvern, PA 19355
Transfer Agent
U.S. Bancorp Fund Services, LLC
615 East Michigan Street
Milwaukee, WI 53202
Independent Registered
Public Accounting Firm
Sanville & Company
2617 Huntingdon Pike
Huntingdon Valley, PA 19006
Legal Counsel
Practus, LLP
11300 Tomahawk Creek Parkway, Suite 310
Leawood, Kansas 66211

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