# EDGAR Filing Document

**Accession Number:** 0001616668
**File Stem:** 0001145549-23-018671
**Filing Date:** 2023-3
**Character Count:** 52718
**Document Hash:** 8f368d512912e0c3772d877f8cc1f0da
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-018671.hdr.sgml**: 20230328

**ACCESSION NUMBER**: 0001145549-23-018671

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230328

**DATE AS OF CHANGE**: 20230328

**PERIOD START**: 20230430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Pacer Funds Trust
- **CENTRAL INDEX KEY:** 0001616668
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0430

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23024
- **FILM NUMBER:** 23767998

**BUSINESS ADDRESS:**
- **STREET 1:** 500 CHESTERFIELD PARKWAY
- **CITY:** MALVERN
- **STATE:** PA
- **ZIP:** 19355
- **BUSINESS PHONE:** 610-644-8100

**MAIL ADDRESS:**
- **STREET 1:** 500 CHESTERFIELD PARKWAY
- **CITY:** MALVERN
- **STATE:** PA
- **ZIP:** 19355

## Series and Classes Contracts Data

### Pacer Developed Markets International Cash Cows 100 ETF (Series ID: S000055467)

| Class ID   | Class Name                                              | Ticker Symbol   |
|:---|:---|:---|
| C000174483 | Pacer Developed Markets International Cash Cows 100 ETF | ICOW            |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Pacer Developed Markets International Cash Cows 100 ETF** | | |
| **Schedule of Investments** | | |
| **January 31, 2023 (Unaudited)** | | |
|  |<br><br>**Shares** |<br><br>**Value** |
| **COMMON STOCKS - 99.6%** | | |
| **Australia - 7.3%** | | |
| BHP Group Ltd. - ADR (a) | 89502 | $6278565 |
| BlueScope Steel Ltd. | 89691 | 1212990 |
| Fortescue Metals Group Ltd. | 251355 | 3945802 |
| Incitec Pivot Ltd. | 151875 | 368772 |
| Origin Energy Ltd. | 290555 | 1532011 |
| Qantas Airways Ltd. (b) | 264190 | 1182275 |
| Sonic Healthcare Ltd. | 53480 | 1192110 |
| Santos Ltd. | 359800 | 1805692 |
| South32 Ltd. | 765659 | 2453602 |
| Whitehaven Coal Ltd. | 226364 | 1342145 |
|  |  | 21313964 |
| **Bermuda - 1.8%** |  |  |
| Orient Overseas International Ltd. | 317307 | 5248556 |
| **Britain - 17.4%** |  |  |
| Anglo American PLC | 138847 | 5933859 |
| B&M European Value Retail SA | 119030 | 656982 |
| Barratt Developments PLC | 93987 | 532778 |
| BP PLC | 158765 | 5752056 |
| British American Tobacco PLC | 132800 | 5111472 |
| Centrica PLC | 509417 | 632744 |
| GSK PLC | 158237 | 5579437 |
| Howden Joinery Group PLC | 45962 | 391209 |
| Imperial Brands PLC | 112613 | 2819733 |
| J Sainsbury PLC | 392890 | 1271965 |
| JD Sports Fashion PLC | 423110 | 848953 |
| Persimmon PLC | 16105 | 280353 |
| Rio Tinto PLC - ADR (a) | 80670 | 6401165 |
| Shell PLC - ADR | 96120 | 5652817 |
| Taylor Wimpey PLC | 187604 | 271069 |
| Tesco PLC | 955405 | 2896380 |
| Vodafone Group PLC - ADR | 499606 | 5785437 |
|  |  | 50818409 |
| **Canada - 10.5%** |  |  |
| Canadian Natural Resources Ltd. | 93539 | 5747036 |
| Cenovus Energy, Inc. | 249702 | 4989046 |
| Imperial Oil Ltd. | 95889 | 5250882 |
| NUTRIEN Ltd. | 53828 | 4456420 |
| Suncor Energy, Inc. | 174695 | 6065410 |
| Teck Resources Ltd. - Class B (a) | 65960 | 2856068 |
| Tourmaline Oil Corp. | 31760 | 1480168 |
|  |  | 30845030 |
| **China - 0.9%** |  |  |
| Lenovo Group Ltd. | 3400629 | 2719237 |
| **Denmark - 3.8%** |  |  |
| AP Moller - Maersk A/S - Class B | 2633 | 5700659 |
| Carlsberg A/S - Class B | 11555 | 1633948 |
| DSV A/S | 19040 | 3133126 |
| Pandora A/S | 6861 | 567513 |
|  |  | 11035246 |
| **Finland - 0.3%** |  |  |
| Stora Enso Oyj - Class R | 67610 | 962508 |
| **France - 6.8%** |  |  |
| Carrefour SA | 135345 | 2570531 |
| Cie de Saint-Gobain | 53269 | 3043231 |
| Eiffage SA | 17139 | 1825248 |
| Publicis Groupe SA | 30208 | 2126093 |
| Rexel SA | 33595 | 739949 |
| Thales SA | 20189 | 2664534 |
| TotalEnergies SE | 92194 | 5719716 |
| Vivendi SE | 113291 | 1214149 |
|  |  | 19903451 |
| **Germany - 6.5%** |  |  |
| Adidas AG (a) | 38228 | 3060151 |
| Bayerische Motoren Werke AG | 62605 | 6345304 |
| Deutsche Lufthansa AG (b) | 341030 | 3600346 |
| Deutsche Post AG | 137345 | 5879986 |
|  |  | 18885787 |
| **Italy - 2.0%** |  |  |
| Eni SpA | 192464 | 5947138 |
| **Japan - 18.9%** |  |  |
| Asics Corp. | 13965 | 329371 |
| CyberAgent, Inc. | 82701 | 766238 |
| Honda Motor Co. Ltd. | 231718 | 5751241 |
| Inpex Corp. | 216687 | 2363888 |
| ITOCHU Corp. | 156553 | 5031008 |
| Japan Tobacco, Inc. | 142592 | 2908476 |
| Kawasaki Kisen Kaisha Ltd. (a) | 75990 | 1572750 |
| KDDI Corp. | 189185 | 5899450 |
| Marubeni Corp. | 221451 | 2699128 |
| Mitsubishi Corp. | 170550 | 5681288 |
| Mitsubishi Heavy Industries Ltd. | 36700 | 1432305 |
| Mitsui OSK Lines Ltd. | 61355 | 1510719 |
| Nexon Co. Ltd. | 44555 | 1069676 |
| NGK Spark Plug Co Ltd. | 18823 | 366005 |
| Nippon Yusen KK | 108690 | 2567678 |
| Nitto Denko Corp. | 8734 | 560951 |
| Renesas Electronics Corp. (b) | 281267 | 2872850 |
| SCREEN Holdings Co. Ltd. | 4434 | 325997 |
| Secom Co. Ltd. | 12525 | 742946 |
| Shin-Etsu Chemical Co. Ltd. | 21320 | 3124334 |
| Shinko Electric Industries Co Ltd. | 10980 | 304520 |
| Subaru Corp. | 67775 | 1109841 |
| Sumitomo Forestry Co Ltd. | 30385 | 563978 |
| Suntory Beverage & Food Ltd. | 19905 | 669795 |
| Takeda Pharmaceutical Co. Ltd. - ADR (a) | 327116 | 5168433 |
|  |  | 55392866 |
| **Luxembourg - 2.2%** |  |  |
| ArcelorMittal | 207990 | 6412633 |
| **Netherlands - 3.1%** |  |  |
| OCI NV | 74315 | 2523918 |
| Randstad Holding NV | 13269 | 846479 |
| Stellantis NV | 365630 | 5714360 |
|  |  | 9084757 |
| **Norway - 3.4%** |  |  |
| Aker BP ASA | 112472 | 3416437 |
| Equinor ASA - ADR (a) | 149028 | 4534922 |
| Norsk Hydro ASA | 258500 | 2080618 |
|  |  | 10031977 |
| **Republic of Korea - 6.5%** |  |  |
| HMM Co. Ltd. | 339634 | 5996947 |
| Kia Corp. | 106225 | 5760537 |
| Korean Air Lines Co. Ltd. (b) | 164854 | 3245421 |
| Krafton, Inc. (b) | 3190 | 464334 |
| POSCO - ADR | 36959 | 2288132 |
| SK Telecom Co. Ltd. - ADR (a) | 59641 | 1264986 |
|  |  | 19020357 |
| **Spain - 5.5%** |  |  |
| Industria de Diseno Textil SA | 211092 | 6567939 |
| Red Electrica Corp. SA | 55835 | 985781 |
| Repsol SA | 244480 | 4010701 |
| Telefonica SA | 1184430 | 4490028 |
|  |  | 16054449 |
| **Sweden - 1.5%** |  |  |
| H & M Hennes & Mauritz AB - Class B | 167777 | 2055499 |
| Tele2 AB - Class B | 75036 | 647208 |
| Telefonaktiebolaget LM Ericsson - ADR | 287691 | 1659977 |
|  |  | 4362684 |
| **Switzerland - 1.2%** |  |  |
| Kuehne + Nagel International AG | 14495 | 3445234 |
| TOTAL COMMON STOCKS (Cost $267,980,678) |  | 291484283 |
|  | **Principal** <br> **Amount** |  |
| **SHORT-TERM INVESTMENTS- 0.1%** |  |  |
| **Money Market Deposit Accounts - 0.1%** |  |  |
| U.S. Bank Money Market Deposit Account 3.300% (c) | $359597 | 359597 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $359,597) |  | 359597 |
|  | **Shares** |  |
| **INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 8.4%** |  |  |
| Mount Vernon Liquid Assets Portfolio, LLC, 4.530% (c) | 24600823 | 24600823 |
| TOTAL INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING (Cost $24,600,823) |  | 24600823 |
| **Total Investments (Cost $292,941,098) - 108.1%** |  | 316444703 |
| **Liabilities in Excess of Other Assets - (8.1)%** |  | (23757849) |
| **TOTAL NET ASSETS - 100.0%** |  | $292686854 |

---

---

| | |
|:---|:---|
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. |
| ADR | American Depositary Receipt |
| <sup>(a)</sup> | All or a portion of this security is on loan as of January 31, 2023. The total value of securities on loan is $24,139,553 or 8.2% of net assets. |
| <sup>(b)</sup> | Non-income producing security. |
| <sup>(c)</sup> | The rate shown is as of January 31, 2023. |
| For Fund compliance purposes, the Fund's industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or they may be defined by Fund management. This definition does not apply for all purposes of this report, which may combine sub-classifications for reporting ease. | For Fund compliance purposes, the Fund's industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or they may be defined by Fund management. This definition does not apply for all purposes of this report, which may combine sub-classifications for reporting ease. |

---

------

---

| |
|:---|
| **Summary of Fair Value Disclosure at January 31, 2023 (Unaudited)** |
| 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 principals 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.<br>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.<br>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.

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.<br>Futures contracts are valued at the settlement price on the exchange on which they are principally traded.<br>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.<br>Deposit accounts are valued at acquisition cost, which approximates fair value.

---

| |
|:---|
| 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 Fund's investments as of January 31, 2023: |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Description^** | **Level 1** | **Level 2** | **Level 3** | **Investments** <br> **Measured at Net** <br> **Asset Value** | **Total** |
| Common Stocks | $291484283 | $- | $- | $- | $291484283 |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 359597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 359597 |
| Investments Purchased with Proceeds from Securities Lending | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp; 24600823 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24600823 |
| Total Investments in Securities | $291843880 | $- | $- | $24600823 | $316444703 |

---

^ See the Schedules of Investments for further country breakouts. <br> <br> For the period ended January 31, 2023, the Fund did not recognize any transfers to or from Level 3.

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Pacer Funds Trust

- **b. Investment Company Act file number:** 811-23024

- **c. CIK number of Registrant:** 0001616668

- **d. LEI of Registrant:** 549300L3D3N0PW0L9M73

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 500 Chesterfield Parkway

  - **City:** Malvern

  - **State:** PA

  - **Foreign country:** US

  - **Zip / Postal Code:** 19355

  - **Telephone number:** 610-664-8100

**Item A.2. Information about the Series.**

- **a. Name of Series:** Pacer Developed Markets International Cash Cows 100 ETF

- **b. EDGAR series identifier (if any):** S000055467

- **c. LEI of Series:** 549300O9GV6ZJ2IFH064

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2023-04-30

- **b. Date as of which information is reported:** 2023-01-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $327655983.29

**Total Liabilities:** $34967809.53

**Net Assets:** $292688173.76

**Cash Not Reported:** $4001.19

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000174483 | 13.48%               | -2.06%               | 6.69%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $3560.12                 | $24905485.07                               |
| Month 2  | $-5960281.19             | $328624.32                                 |
| Month 3  | $10205.90                | $16334321.18                               |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                                      | Title                                     | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   | Fair Value Level   | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Canadian Natural Resources Ltd            | Canadian Natural Resources Ltd            | CUSIP: 136385101<br>LEI: 549300T15RIMIKZC5Q38 | Long             | EC               | CORP              | CA        |     93539 | NS      | $5747036.16   | 1.96%             |  |  |  | No            | 1                  | On Loan: No      |
| Vodafone Group PLC                        | Vodafone Group PLC                        | CUSIP: 92857W308<br>LEI: 213800TB53ELEUKM7Q61 | Long             | EC               | CORP              | GB        |    499606 | NS      | $5785437.48   | 1.98%             |  |  |  | No            | 1                  | On Loan: No      |
| Barratt Developments PLC                  | Barratt Developments PLC                  | CUSIP: N/A<br>LEI: 2138006R85VEOF5YNK29       | Long             | EC               | CORP              | GB        |     93987 | NS      | $532778.01    | 0.18%             |  |  |  | No            | 1                  | On Loan: No      |
| Imperial Brands PLC                       | Imperial Brands PLC                       | CUSIP: N/A<br>LEI: 549300DFVPOB67JL3A42       | Long             | EC               | CORP              | GB        |    112613 | NS      | $2819733.00   | 0.96%             |  |  |  | No            | 1                  | On Loan: No      |
| Howden Joinery Group PLC                  | Howden Joinery Group PLC                  | CUSIP: N/A<br>LEI: 213800KC1LJOJTY3JP45       | Long             | EC               | CORP              | GB        |     45962 | NS      | $391209.36    | 0.13%             |  |  |  | No            | 1                  | On Loan: No      |
| Persimmon PLC                             | Persimmon PLC                             | CUSIP: N/A<br>LEI: 213800XI72Y57UWN6F31       | Long             | EC               | CORP              | GB        |     16105 | NS      | $280352.84    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Taylor Wimpey PLC                         | Taylor Wimpey PLC                         | CUSIP: G86954107<br>LEI: 21380089BTRXTD8S3R66 | Long             | EC               | CORP              | GB        |    187604 | NS      | $271068.62    | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| BHP Group Ltd                             | BHP Group Ltd                             | CUSIP: 088606108<br>LEI: WZE1WSENV6JSZFK0JC28 | Long             | EC               | CORP              | AU        |     89502 | NS      | $6278565.30   | 2.15%             |  |  |  | No            | 1                  | On Loan: —       |
| British American Tobacco PLC              | British American Tobacco PLC              | CUSIP: 110448107<br>LEI: 213800FKA5MF17RJKT63 | Long             | EC               | CORP              | GB        |    132800 | NS      | $5111472.00   | 1.75%             |  |  |  | No            | 1                  | On Loan: No      |
| Cenovus Energy Inc                        | Cenovus Energy Inc                        | CUSIP: 15135U109<br>LEI: 549300F4XPHJ7NOSP309 | Long             | EC               | CORP              | CA        |    249702 | NS      | $4989045.96   | 1.70%             |  |  |  | No            | 1                  | On Loan: No      |
| Eni SpA                                   | Eni SpA                                   | CUSIP: 26874R108<br>LEI: BUCRF72VH5RBN7X3VL35 | Long             | EC               | CORP              | IT        |    192464 | NS      | $5947137.60   | 2.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Randstad NV                               | Randstad NV                               | CUSIP: N/A<br>LEI: 7245009EAAUUQJ0U4T57       | Long             | EC               | CORP              | NL        |     13269 | NS      | $846478.65    | 0.29%             |  |  |  | No            | 1                  | On Loan: No      |
| Carrefour SA                              | Carrefour SA                              | CUSIP: N/A<br>LEI: 549300B8P6MUJ1YWTS08       | Long             | EC               | CORP              | FR        |    135345 | NS      | $2570530.91   | 0.88%             |  |  |  | No            | 1                  | On Loan: No      |
| Origin Energy Ltd                         | Origin Energy Ltd                         | CUSIP: N/A<br>LEI: ZSN2LWNPYW6ISMRUC664       | Long             | EC               | CORP              | AU        |    290555 | NS      | $1532010.93   | 0.52%             |  |  |  | No            | 1                  | On Loan: No      |
| Lenovo Group Ltd                          | Lenovo Group Ltd                          | CUSIP: N/A<br>LEI: 254900VUZRGD5U73RE46       | Long             | EC               | CORP              | CN        |   3400629 | NS      | $2719236.82   | 0.93%             |  |  |  | No            | 1                  | On Loan: No      |
| CyberAgent Inc                            | CyberAgent Inc                            | CUSIP: J1046G108<br>LEI: 3538006T5KZABPGS8Q08 | Long             | EC               | CORP              | JP        |     82701 | NS      | $766238.28    | 0.26%             |  |  |  | No            | 1                  | On Loan: No      |
| KDDI Corp                                 | KDDI Corp                                 | CUSIP: N/A<br>LEI: 5299003FU7V4I45FU310       | Long             | EC               | CORP              | JP        |    189185 | NS      | $5899450.04   | 2.02%             |  |  |  | No            | 1                  | On Loan: No      |
| ITOCHU Corp                               | ITOCHU Corp                               | CUSIP: N/A<br>LEI: J48DJYXDTLHM30UMYI18       | Long             | EC               | CORP              | JP        |    156553 | NS      | $5031008.33   | 1.72%             |  |  |  | No            | 1                  | On Loan: No      |
| Japan Tobacco Inc                         | Japan Tobacco Inc                         | CUSIP: N/A<br>LEI: 353800Z0ENYBQO0XRJ31       | Long             | EC               | CORP              | JP        |    142592 | NS      | $2908475.86   | 0.99%             |  |  |  | No            | 1                  | On Loan: No      |
| Kia Corp                                  | Kia Corp                                  | CUSIP: N/A<br>LEI: 988400V8MJK9N7OI5X76       | Long             | EC               | CORP              | KR        |    106225 | NS      | $5760537.42   | 1.97%             |  |  |  | No            | 1                  | On Loan: No      |
| Korean Air Lines Co Ltd                   | Korean Air Lines Co Ltd                   | CUSIP: N/A<br>LEI: 988400C2UFBF4B660C58       | Long             | EC               | CORP              | KR        |    164854 | NS      | $3245420.93   | 1.11%             |  |  |  | No            | 1                  | On Loan: No      |
| BlueScope Steel Ltd                       | BlueScope Steel Ltd                       | CUSIP: N/A<br>LEI: 529900H6UQI16XACWC95       | Long             | EC               | CORP              | AU        |     89691 | NS      | $1212990.17   | 0.41%             |  |  |  | No            | 1                  | On Loan: No      |
| Marubeni Corp                             | Marubeni Corp                             | CUSIP: N/A<br>LEI: 4P4N3ORD02UGQT1T1W12       | Long             | EC               | CORP              | JP        |    221451 | NS      | $2699128.12   | 0.92%             |  |  |  | No            | 1                  | On Loan: No      |
| Mitsubishi Corp                           | Mitsubishi Corp                           | CUSIP: N/A<br>LEI: KVIPTY4PULAPGC1VVD26       | Long             | EC               | CORP              | JP        |    170550 | NS      | $5681287.60   | 1.94%             |  |  |  | No            | 1                  | On Loan: No      |
| Mitsubishi Heavy Industries Lt            | Mitsubishi Heavy Industries Ltd           | CUSIP: N/A<br>LEI: 353800TJ98PCAZROVE69       | Long             | EC               | CORP              | JP        |     36700 | NS      | $1432305.15   | 0.49%             |  |  |  | No            | 1                  | On Loan: No      |
| Stora Enso Oyj                            | Stora Enso Oyj                            | CUSIP: N/A<br>LEI: 7437000ZP669LKUTZ738       | Long             | EC               | CORP              | FI        |     67610 | NS      | $962507.56    | 0.33%             |  |  |  | No            | 1                  | On Loan: No      |
| Rexel SA                                  | Rexel SA                                  | CUSIP: N/A<br>LEI: 969500N6AVPA51648T62       | Long             | EC               | CORP              | FR        |     33595 | NS      | $739949.01    | 0.25%             |  |  |  | No            | 1                  | On Loan: No      |
| Tourmaline Oil Corp                       | Tourmaline Oil Corp                       | CUSIP: 89156V106<br>LEI: 549300LCHLN94A7Y1572 | Long             | EC               | CORP              | CA        |     31760 | NS      | $1480168.05   | 0.51%             |  |  |  | No            | 1                  | On Loan: No      |
| Tele2 AB                                  | Tele2 AB                                  | CUSIP: N/A<br>LEI: 213800EKD193RVI9HL76       | Long             | EC               | CORP              | SE        |     75036 | NS      | $647208.46    | 0.22%             |  |  |  | No            | 1                  | On Loan: No      |
| Suntory Beverage & Food Ltd               | Suntory Beverage & Food Ltd               | CUSIP: N/A<br>LEI: 549300FONLMVK7YYYH41       | Long             | EC               | CORP              | JP        |     19905 | NS      | $669795.26    | 0.23%             |  |  |  | No            | 1                  | On Loan: No      |
| OCI NV                                    | OCI NV                                    | CUSIP: N/A<br>LEI: 549300NCMRGIBJYUOE57       | Long             | EC               | CORP              | NL        |     74315 | NS      | $2523917.86   | 0.86%             |  |  |  | No            | 1                  | On Loan: No      |
| Tesco PLC                                 | Tesco PLC                                 | CUSIP: N/A<br>LEI: 2138002P5RNKC5W2JZ46       | Long             | EC               | CORP              | GB        |    955405 | NS      | $2896380.23   | 0.99%             |  |  |  | No            | 1                  | On Loan: No      |
| JD Sports Fashion PLC                     | JD Sports Fashion PLC                     | CUSIP: G5144Y120<br>LEI: 213800HROV6Y9MUU8375 | Long             | EC               | CORP              | GB        |    423110 | NS      | $848953.34    | 0.29%             |  |  |  | No            | 1                  | On Loan: No      |
| Krafton Inc                               | Krafton Inc                               | CUSIP: N/A<br>LEI: 988400CE024EWSCICK17       | Long             | EC               | CORP              | KR        |      3190 | NS      | $464334.31    | 0.16%             |  |  |  | No            | 1                  | On Loan: No      |
| Stellantis NV                             | Stellantis NV                             | CUSIP: N/A<br>LEI: 549300LKT9PW7ZIBDF31       | Long             | EC               | CORP              | NL        |    365630 | NS      | $5714359.98   | 1.95%             |  |  |  | No            | 1                  | On Loan: No      |
| B&M European Value Retail SA              | B&M European Value Retail SA              | CUSIP: L1175H106<br>LEI: 213800UK7ZRLY2K1X530 | Long             | EC               | CORP              | GB        |    119030 | NS      | $656981.38    | 0.22%             |  |  |  | No            | 1                  | On Loan: No      |
| Industria de Diseno Textil SA             | Industria de Diseno Textil SA             | CUSIP: N/A<br>LEI: 549300TTCXZOGZM2EY83       | Long             | EC               | CORP              | ES        |    211092 | NS      | $6567939.03   | 2.24%             |  |  |  | No            | 1                  | On Loan: No      |
| South32 Ltd                               | South32 Ltd                               | CUSIP: N/A<br>LEI: 213800LAZNPXSBKVHR17       | Long             | EC               | CORP              | AU        |    765659 | NS      | $2453602.21   | 0.84%             |  |  |  | No            | 1                  | On Loan: No      |
| ArcelorMittal SA                          | ArcelorMittal SA                          | CUSIP: N/A<br>LEI: 2EULGUTUI56JI9SAL165       | Long             | EC               | CORP              | LU        |    207990 | NS      | $6412633.07   | 2.19%             |  |  |  | No            | 1                  | On Loan: No      |
| BP PLC                                    | BP PLC                                    | CUSIP: 055622104<br>LEI: 213800LH1BZH3DI6G760 | Long             | EC               | CORP              | GB        |    158765 | NS      | $5752055.95   | 1.97%             |  |  |  | No            | 1                  | On Loan: No      |
| Ericsson                                  | Telefonaktiebolaget LM Ericsson           | CUSIP: 294821608<br>LEI: 549300W9JLPW15XIFM52 | Long             | EC               | CORP              | SE        |    287691 | NS      | $1659977.07   | 0.57%             |  |  |  | No            | 1                  | On Loan: No      |
| GSK PLC                                   | GSK PLC                                   | CUSIP: 37733W204<br>LEI: 5493000HZTVUYLO1D793 | Long             | EC               | CORP              | GB        |    158237 | NS      | $5579436.62   | 1.91%             |  |  |  | No            | 1                  | On Loan: No      |
| Thales SA                                 | Thales SA                                 | CUSIP: N/A<br>LEI: 529900FNDVTQJOVVPZ19       | Long             | EC               | CORP              | FR        |     20189 | NS      | $2664533.61   | 0.91%             |  |  |  | No            | 1                  | On Loan: No      |
| Carlsberg AS                              | Carlsberg AS                              | CUSIP: N/A<br>LEI: 5299001O0WJQYB5GYZ19       | Long             | EC               | CORP              | DK        |     11555 | NS      | $1633948.30   | 0.56%             |  |  |  | No            | 1                  | On Loan: No      |
| AP Moller - Maersk A/S                    | AP Moller - Maersk A/S                    | CUSIP: K0514G101<br>LEI: 549300D2K6PKKKXVNN73 | Long             | EC               | CORP              | DK        |      2633 | NS      | $5700658.37   | 1.95%             |  |  |  | No            | 1                  | On Loan: No      |
| Publicis Groupe SA                        | Publicis Groupe SA                        | CUSIP: N/A<br>LEI: 2138004KW8BV57III342       | Long             | EC               | CORP              | FR        |     30208 | NS      | $2126093.58   | 0.73%             |  |  |  | No            | 1                  | On Loan: No      |
| Honda Motor Co Ltd                        | Honda Motor Co Ltd                        | CUSIP: 438128308<br>LEI: 549300P7ZYCQJ36CCS16 | Long             | EC               | CORP              | JP        |    231718 | NS      | $5751240.76   | 1.96%             |  |  |  | No            | 1                  | On Loan: No      |
| Imperial Oil Ltd                          | Imperial Oil Ltd                          | CUSIP: 453038408<br>LEI: 549300JZNB745JT5WY51 | Long             | EC               | CORP              | CA        |     95889 | NS      | $5250881.64   | 1.79%             |  |  |  | No            | 1                  | On Loan: No      |
| Deutsche Post AG                          | Deutsche Post AG                          | CUSIP: N/A<br>LEI: 8ER8GIG7CSMVD8VUFE78       | Long             | EC               | CORP              | DE        |    137345 | NS      | $5879985.76   | 2.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Vivendi SE                                | Vivendi SE                                | CUSIP: F97982106<br>LEI: 969500FU4DRAEVJW7U54 | Long             | EC               | CORP              | FR        |    113291 | NS      | $1214148.85   | 0.41%             |  |  |  | No            | 1                  | On Loan: No      |
| Mitsui OSK Lines Ltd                      | Mitsui OSK Lines Ltd                      | CUSIP: N/A<br>LEI: 353800P8O843TMAZ6S09       | Long             | EC               | CORP              | JP        |     61355 | NS      | $1510719.28   | 0.52%             |  |  |  | No            | 1                  | On Loan: No      |
| Renesas Electronics Corp                  | Renesas Electronics Corp                  | CUSIP: N/A<br>LEI: 5299000EPC47VJQOFB81       | Long             | EC               | CORP              | JP        |    281267 | NS      | $2872849.66   | 0.98%             |  |  |  | No            | 1                  | On Loan: No      |
| Nitto Denko Corp                          | Nitto Denko Corp                          | CUSIP: N/A<br>LEI: 3538009GX5P09USH2J25       | Long             | EC               | CORP              | JP        |      8734 | NS      | $560951.41    | 0.19%             |  |  |  | No            | 1                  | On Loan: No      |
| Shin-Etsu Chemical Co Ltd                 | Shin-Etsu Chemical Co Ltd                 | CUSIP: N/A<br>LEI: 353800PX8Q64N86H5W41       | Long             | EC               | CORP              | JP        |     21320 | NS      | $3124334.50   | 1.07%             |  |  |  | No            | 1                  | On Loan: No      |
| Shinko Electric Industries Co             | Shinko Electric Industries Co Ltd         | CUSIP: N/A<br>LEI: 549300627MZ4832XWF51       | Long             | EC               | CORP              | JP        |     10980 | NS      | $304519.65    | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Sonic Healthcare Ltd                      | Sonic Healthcare Ltd                      | CUSIP: N/A<br>LEI: 549300NQQ5L2NONWR862       | Long             | EC               | CORP              | AU        |     53480 | NS      | $1192110.28   | 0.41%             |  |  |  | No            | 1                  | On Loan: No      |
| POSCO Holdings Inc                        | POSCO Holdings Inc                        | CUSIP: 693483109<br>LEI: 988400E5HRVX81AYLM04 | Long             | EC               | CORP              | KR        |     36959 | NS      | $2288131.69   | 0.78%             |  |  |  | No            | 1                  | On Loan: No      |
| Shell PLC                                 | Shell PLC                                 | CUSIP: 780259305<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |     96120 | NS      | $5652817.20   | 1.93%             |  |  |  | No            | 1                  | On Loan: No      |
| SK Telecom Co Ltd                         | SK Telecom Co Ltd                         | CUSIP: 78440P306<br>LEI: 9884003WEA1PHW006037 | Long             | EC               | CORP              | KR        |     59641 | NS      | $1264985.61   | 0.43%             |  |  |  | No            | 1                  | On Loan: —       |
| Suncor Energy Inc                         | Suncor Energy Inc                         | CUSIP: 867224107<br>LEI: 549300W70ZOQDVLCHY06 | Long             | EC               | CORP              | CA        |    174695 | NS      | $6065410.40   | 2.07%             |  |  |  | No            | 1                  | On Loan: No      |
| Takeda Pharmaceutical Co Ltd              | Takeda Pharmaceutical Co Ltd              | CUSIP: 874060205<br>LEI: 549300ZLMVP4X0OGR454 | Long             | EC               | CORP              | JP        |    327116 | NS      | $5168432.80   | 1.77%             |  |  |  | No            | 1                  | On Loan: —       |
| TotalEnergies SE                          | TotalEnergies SE                          | CUSIP: 89151E109<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |     92194 | NS      | $5719715.76   | 1.95%             |  |  |  | No            | 1                  | On Loan: No      |
| U.S. Bank Money Market Deposit Account    | U.S. Bank Money Market Deposit Account    | CUSIP: 8AMMF0A84<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    355334 | NS      | $355333.99    | 0.12%             |  |  |  | No            | 1                  | On Loan: No      |
| Mount Vernon Liquid Assets Portfolio, LLC | Mount Vernon Liquid Assets Portfolio, LLC | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | PF                | US        |  24600823 | NS      | $24600822.75  | 8.41%             |  |  |  | No            | N/A                | On Loan: No      |
| J Sainsbury PLC                           | J Sainsbury PLC                           | CUSIP: N/A<br>LEI: 213800VGZAAJIKJ9Y484       | Long             | EC               | CORP              | GB        |    392890 | NS      | $1271965.21   | 0.43%             |  |  |  | No            | 1                  | On Loan: No      |
| Inpex Corp                                | Inpex Corp                                | CUSIP: N/A<br>LEI: 353800VHYYADPR6MXQ47       | Long             | EC               | CORP              | JP        |    216687 | NS      | $2363888.45   | 0.81%             |  |  |  | No            | 1                  | On Loan: No      |
| DSV A/S                                   | DSV A/S                                   | CUSIP: N/A<br>LEI: 529900X41C0BSLK67H70       | Long             | EC               | CORP              | DK        |     19040 | NS      | $3133125.81   | 1.07%             |  |  |  | No            | 1                  | On Loan: No      |
| Anglo American PLC                        | Anglo American PLC                        | CUSIP: N/A<br>LEI: 549300S9XF92D1X8ME43       | Long             | EC               | CORP              | GB        |    138847 | NS      | $5933859.25   | 2.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Pandora A/S                               | Pandora A/S                               | CUSIP: N/A<br>LEI: 5299007OWYZ6I1E46843       | Long             | EC               | CORP              | DK        |      6861 | NS      | $567513.70    | 0.19%             |  |  |  | No            | 1                  | On Loan: No      |
| Red Electrica Corp SA                     | Red Electrica Corp SA                     | CUSIP: N/A<br>LEI: 5493009HMD0C90GUV498       | Long             | EC               | CORP              | ES        |     55835 | NS      | $985780.57    | 0.34%             |  |  |  | No            | 1                  | On Loan: No      |
| adidas AG                                 | adidas AG                                 | CUSIP: 00687A107<br>LEI: 549300JSX0Z4CW0V5023 | Long             | EC               | CORP              | DE        |     38228 | NS      | $3060151.40   | 1.05%             |  |  |  | No            | 1                  | On Loan: —       |
| Equinor ASA                               | Equinor ASA                               | CUSIP: 29446M102<br>LEI: OW6OFBNCKXC4US5C7523 | Long             | EC               | CORP              | NO        |    149028 | NS      | $4534922.04   | 1.55%             |  |  |  | No            | 1                  | On Loan: —       |
| Deutsche Lufthansa AG                     | Deutsche Lufthansa AG                     | CUSIP: N/A<br>LEI: 529900PH63HYJ86ASW55       | Long             | EC               | CORP              | DE        |    341030 | NS      | $3600346.07   | 1.23%             |  |  |  | No            | 1                  | On Loan: No      |
| Repsol SA                                 | Repsol SA                                 | CUSIP: N/A<br>LEI: BSYCX13Y0NOTV14V9N85       | Long             | EC               | CORP              | ES        |    244480 | NS      | $4010700.99   | 1.37%             |  |  |  | No            | 1                  | On Loan: No      |
| H & M Hennes & Mauritz AB                 | H & M Hennes & Mauritz AB                 | CUSIP: N/A<br>LEI: 529900O5RR7R39FRDM42       | Long             | EC               | CORP              | SE        |    167777 | NS      | $2055499.28   | 0.70%             |  |  |  | No            | 1                  | On Loan: No      |
| Telefonica SA                             | Telefonica SA                             | CUSIP: 879382109<br>LEI: 549300EEJH4FEPDBBR25 | Long             | EC               | CORP              | ES        |   1184430 | NS      | $4490028.06   | 1.53%             |  |  |  | No            | 1                  | On Loan: No      |
| Bayerische Motoren Werke AG               | Bayerische Motoren Werke AG               | CUSIP: N/A<br>LEI: YEH5ZCD6E441RHVHD759       | Long             | EC               | CORP              | DE        |     62605 | NS      | $6345303.69   | 2.17%             |  |  |  | No            | 1                  | On Loan: No      |
| Asics Corp                                | Asics Corp                                | CUSIP: N/A<br>LEI: 3538002LJMRZ83SU0B85       | Long             | EC               | CORP              | JP        |     13965 | NS      | $329370.80    | 0.11%             |  |  |  | No            | 1                  | On Loan: No      |
| Fortescue Metals Group Ltd                | Fortescue Metals Group Ltd                | CUSIP: N/A<br>LEI: 529900VEJFORCO6I4826       | Long             | EC               | CORP              | AU        |    251355 | NS      | $3945801.39   | 1.35%             |  |  |  | No            | 1                  | On Loan: No      |
| SCREEN Holdings Co Ltd                    | SCREEN Holdings Co Ltd                    | CUSIP: N/A<br>LEI: 353800ND89FTQ9XQ0R07       | Long             | EC               | CORP              | JP        |      4434 | NS      | $325996.85    | 0.11%             |  |  |  | No            | 1                  | On Loan: No      |
| Subaru Corp                               | Subaru Corp                               | CUSIP: N/A<br>LEI: 549300N244BVAEE6HH86       | Long             | EC               | CORP              | JP        |     67775 | NS      | $1109840.68   | 0.38%             |  |  |  | No            | 1                  | On Loan: No      |
| HMM Co Ltd                                | HMM Co Ltd                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KR        |    339634 | NS      | $5996947.15   | 2.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Kawasaki Kisen Kaisha Ltd                 | Kawasaki Kisen Kaisha Ltd                 | CUSIP: N/A<br>LEI: 353800FL04R73DS5P870       | Long             | EC               | CORP              | JP        |     75990 | NS      | $1572750.43   | 0.54%             |  |  |  | No            | 1                  | On Loan: —       |
| NGK Spark Plug Co Ltd                     | NGK Spark Plug Co Ltd                     | CUSIP: N/A<br>LEI: 549300RG3XQGTFM4HH31       | Long             | EC               | CORP              | JP        |     18823 | NS      | $366004.79    | 0.13%             |  |  |  | No            | 1                  | On Loan: No      |
| Centrica PLC                              | Centrica PLC                              | CUSIP: N/A<br>LEI: E26EDV109X6EEPBKVH76       | Long             | EC               | CORP              | GB        |    509417 | NS      | $632743.98    | 0.22%             |  |  |  | No            | 1                  | On Loan: No      |
| Norsk Hydro ASA                           | Norsk Hydro ASA                           | CUSIP: N/A<br>LEI: 549300N1SDN71ZZ8BO45       | Long             | EC               | CORP              | NO        |    258500 | NS      | $2080617.34   | 0.71%             |  |  |  | No            | 1                  | On Loan: No      |
| Eiffage SA                                | Eiffage SA                                | CUSIP: N/A<br>LEI: 969500OQXKE5WDM9M994       | Long             | EC               | CORP              | FR        |     17139 | NS      | $1825248.35   | 0.62%             |  |  |  | No            | 1                  | On Loan: No      |
| Kuehne + Nagel International A            | Kuehne + Nagel International AG           | CUSIP: N/A<br>LEI: 529900Q0YED3805QXQ66       | Long             | EC               | CORP              | CH        |     14495 | NS      | $3445234.30   | 1.18%             |  |  |  | No            | 1                  | On Loan: No      |
| Aker BP ASA                               | Aker BP ASA                               | CUSIP: N/A<br>LEI: 549300NFTY73920OYK69       | Long             | EC               | CORP              | NO        |    112472 | NS      | $3416437.28   | 1.17%             |  |  |  | No            | 1                  | On Loan: No      |
| Whitehaven Coal Ltd                       | Whitehaven Coal Ltd                       | CUSIP: N/A<br>LEI: 529900WCZ4I6ZO3RRP86       | Long             | EC               | CORP              | AU        |    226364 | NS      | $1342145.36   | 0.46%             |  |  |  | No            | 1                  | On Loan: No      |
| Nexon Co Ltd                              | Nexon Co Ltd                              | CUSIP: N/A<br>LEI: 5299005SFO0GAJFLKN43       | Long             | EC               | CORP              | JP        |     44555 | NS      | $1069675.99   | 0.37%             |  |  |  | No            | 1                  | On Loan: No      |
| Nippon Yusen KK                           | Nippon Yusen KK                           | CUSIP: N/A<br>LEI: 353800YPW4XM0ZN5I149       | Long             | EC               | CORP              | JP        |    108690 | NS      | $2567677.56   | 0.88%             |  |  |  | No            | 1                  | On Loan: No      |
| OOIL                                      | Orient Overseas International Ltd         | CUSIP: N/A<br>LEI: 529900DQ426GJO276W95       | Long             | EC               | CORP              | HK        |    317307 | NS      | $5248556.39   | 1.79%             |  |  |  | No            | 1                  | On Loan: No      |
| Incitec Pivot Ltd                         | Incitec Pivot Ltd                         | CUSIP: N/A<br>LEI: 254900UW2F3BKV6Z9V18       | Long             | EC               | CORP              | AU        |    151875 | NS      | $368771.75    | 0.13%             |  |  |  | No            | 1                  | On Loan: No      |
| NUTRIEN LTD COM                           | NUTRIEN LTD COM                           | CUSIP: 67077M108<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     53828 | NS      | $4456420.12   | 1.52%             |  |  |  | No            | 1                  | On Loan: No      |
| Qantas Airways Ltd                        | Qantas Airways Ltd                        | CUSIP: N/A<br>LEI: YLXNW6TI6QSK1H8H0N82       | Long             | EC               | CORP              | AU        |    264190 | NS      | $1182275.10   | 0.40%             |  |  |  | No            | 1                  | On Loan: No      |
| Santos Ltd                                | Santos Ltd                                | CUSIP: N/A<br>LEI: 5299000RK70B5O2M7077       | Long             | EC               | CORP              | AU        |    359800 | NS      | $1805691.98   | 0.62%             |  |  |  | No            | 1                  | On Loan: No      |
| Secom Co Ltd                              | Secom Co Ltd                              | CUSIP: N/A<br>LEI: 529900TYCL9N3E9PGE47       | Long             | EC               | CORP              | JP        |     12525 | NS      | $742945.68    | 0.25%             |  |  |  | No            | 1                  | On Loan: No      |
| Sumitomo Forestry Co Ltd                  | Sumitomo Forestry Co Ltd                  | CUSIP: N/A<br>LEI: 549300FIIRGO6D5FWR19       | Long             | EC               | CORP              | JP        |     30385 | NS      | $563977.72    | 0.19%             |  |  |  | No            | 1                  | On Loan: No      |
| Cie de Saint-Gobain                       | Cie de Saint-Gobain                       | CUSIP: N/A<br>LEI: NFONVGN05Z0FMN5PEC35       | Long             | EC               | CORP              | FR        |     53269 | NS      | $3043231.38   | 1.04%             |  |  |  | No            | 1                  | On Loan: No      |
| Rio Tinto PLC                             | Rio Tinto PLC                             | CUSIP: 767204100<br>LEI: 213800YOEO5OQ72G2R82 | Long             | EC               | CORP              | GB        |     80670 | NS      | $6401164.50   | 2.19%             |  |  |  | No            | 1                  | On Loan: —       |
| Teck Resources Ltd                        | Teck Resources Ltd                        | CUSIP: 878742204<br>LEI: T8KI5SQ2JRWHL7XY0E11 | Long             | EC               | CORP              | CA        |     65960 | NS      | $2856068.00   | 0.98%             |  |  |  | No            | 1                  | On Loan: —       |

### Signature

**Date Signed:** 2023-03-07

**Name of Applicant:** Pacer Funds Trust

**Signature:** /s/ Bruce Kavanaugh

**Name of Signer:** Pacer Funds Trust

**Title:** Vice President