# EDGAR Filing Document

**Accession Number:** 0001616668
**File Stem:** 0001145549-23-018674
**Filing Date:** 2023-3
**Character Count:** 68926
**Document Hash:** df03bbe37488664e15f0685e81926290
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-018674.hdr.sgml**: 20230328

**ACCESSION NUMBER**: 0001145549-23-018674

**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:** 23768001

**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 Lunt MidCap Multi-Factor Alternator ETF (Series ID: S000062276)

| Class ID   | Class Name                                    | Ticker Symbol   |
|:---|:---|:---|
| C000201847 | Pacer Lunt MidCap Multi-Factor Alternator ETF | PAMC            |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Pacer Lunt MidCap Multi-Factor Alternator ETF** | | |
| **Schedule of Investments** | | |
| **January 31, 2023 (Unaudited)** | | |
|  |<br><br>**Shares** |<br><br>**Value** |
| **COMMON STOCKS - 95.4%** | | |
| **Communication Services - 2.3%** | | |
| Cable One, Inc. | 268 | $211688 |
| The New York Times Co. - Class A | 8150 | 283946 |
| TripAdvisor, Inc. (a) | 5931 | 138192 |
| Ziff Davis, Inc. (a) | 2660 | 238017 |
|  |  | 871843 |
| **Consumer Discretionary - 24.0%** |  |  |
| Adient PLC (a) | 6318 | 284436 |
| AutoNation, Inc. (a) | 2095 | 265478 |
| Columbia Sportswear Co. | 1789 | 171565 |
| Cracker Barrel Old Country Store, Inc. | 1120 | 124969 |
| Crocs, Inc. (a)(b) | 3119 | 379801 |
| Dana, Inc. | 5276 | 95707 |
| Five Below, Inc. (a) | 2679 | 528111 |
| Foot Locker, Inc. (b) | 8200 | 356782 |
| Fox Factory Holding Corp. (a) | 2392 | 282471 |
| Graham Holdings Co. - Class B | 163 | 106490 |
| Hanesbrands, Inc. (b) | 35047 | 295797 |
| Helen of Troy Ltd. (a) | 1627 | 184030 |
| KB Home | 5787 | 222510 |
| Kohl's Corp. | 10126 | 327779 |
| Lear Corp. | 1856 | 270568 |
| Lithia Motors, Inc. (b) | 3203 | 843030 |
| Macy's, Inc. (b) | 16714 | 394952 |
| Murphy USA, Inc. | 651 | 177092 |
| Nordstrom, Inc. (b) | 5753 | 112414 |
| Ollie's Bargain Outlet Holdings, Inc. (a) | 2727 | 149330 |
| PVH Corp. | 3560 | 320044 |
| RH (a)(b) | 1254 | 391235 |
| Skechers U.S.A., Inc. - Class A (a) | 10235 | 492815 |
| Taylor Morrison Home Corp. (a)(b) | 7720 | 276376 |
| Tempur Sealy International, Inc. | 8762 | 357051 |
| The Gap, Inc. | 13621 | 184837 |
| The Goodyear Tire & Rubber Co. (a) | 24247 | 272779 |
| Thor Industries, Inc. | 6237 | 594573 |
| Toll Brothers, Inc. (b) | 5187 | 308575 |
| Under Armour, Inc. - Class A (a)(b) | 11039 | 136773 |
| Under Armour, Inc. - Class C (a) | 11613 | 126582 |
| YETI Holdings, Inc. (a) | 5013 | 224382 |
|  |  | 9259334 |
| **Consumer Staples - 3.2%** |  |  |
| Energizer Holdings, Inc. | 3798 | 140906 |
| Lancaster Colony Corp. | 1407 | 270017 |
| Performance Food Group Co. (a) | 5845 | 358415 |
| Pilgrim's Pride Corp. (a) | 1990 | 48317 |
| Post Holdings, Inc. (a) | 1722 | 163504 |
| The Boston Beer Co., Inc. - Class A (a) | 641 | 249099 |
|  |  | 1230258 |
| **Energy - 4.6%** |  |  |
| Antero Resources Corp. (a)(b) | 10882 | 313837 |
| HF Sinclair Corp. | 9527 | 542086 |
| PBF Energy, Inc. - Class A | 9824 | 412510 |
| PDC Energy, Inc. (b) | 4307 | 291713 |
| Southwestern Energy Co. (a) | 42786 | 236179 |
|  |  | 1796325 |
| **Financials - 11.5%** |  |  |
| Annaly Capital Management, Inc. (b) | 20709 | 486040 |
| Associated Banc-Corp. | 4869 | 109114 |
| Brighthouse Financial, Inc. (a) | 4898 | 275610 |
| CNO Financial Group, Inc. | 4114 | 105977 |
| Essent Group Ltd. | 4659 | 205136 |
| First American Financial Corp. | 3587 | 221928 |
| FNB Corp. | 11469 | 163663 |
| Janus Henderson Group PLC (b) | 12311 | 319101 |
| Jefferies Financial Group, Inc. | 7433 | 291968 |
| Kemper Corp. | 3291 | 193280 |
| MGIC Investment Corp. (b) | 13717 | 193684 |
| Navient Corp. | 5778 | 109609 |
| New York Community Bancorp, Inc. | 31104 | 310729 |
| Old Republic International Corp. | 9690 | 255719 |
| PacWest Bancorp | 11192 | 309571 |
| Prosperity Bancshares, Inc. | 2554 | 193746 |
| Unum Group | 8576 | 360449 |
| Valley National Bancorp (b) | 12904 | 153300 |
| Voya Financial, Inc. (b) | 2803 | 195565 |
|  |  | 4454189 |
| **Health Care - 11.2%** |  |  |
| Amedisys, Inc. (a) | 1990 | 192353 |
| Arrowhead Pharmaceuticals, Inc. (a) | 4802 | 168022 |
| Azenta, Inc. (b) | 3101 | 173346 |
| Encompass Health Corp. | 5070 | 316622 |
| Enovis Corp. (a) | 3980 | 250541 |
| Globus Medical, Inc. (a) - Class A | 4228 | 319214 |
| Integra LifeSciences Holdings Corp. (a) | 3836 | 219803 |
| LHC Group, Inc. (a) | 1435 | 227591 |
| Masimo Corp. (a) | 2650 | 450712 |
| Neogen Corp. (a) | 16500 | 353265 |
| Omnicell, Inc. (a) | 2334 | 129467 |
| Penumbra, Inc. (a) | 2143 | 536629 |
| Progyny, Inc. (a) | 3922 | 134878 |
| QuidelOrtho Corp. (a)(b) | 1973 | 168909 |
| STAAR Surgical Co. (a) | 2095 | 147802 |
| Syneos Health, Inc. (a) | 3846 | 138148 |
| Tandem Diabetes Care, Inc. (a) | 3310 | 134849 |
| Tenet Healthcare Corp. (a) | 4764 | 261305 |
|  |  | 4323456 |
| **Industrials - 18.7%** |  |  |
| Axon Enterprise, Inc. (a) | 3616 | 706711 |
| Builders FirstSource, Inc. (a) | 7739 | 616798 |
| Donaldson Co., Inc. | 5797 | 361443 |
| EnerSys | 2440 | 202569 |
| IAA, Inc. (a) | 7404 | 308969 |
| ITT, Inc. | 4209 | 385502 |
| JetBlue Airways Corp. (a) | 32417 | 259336 |
| Knight-Swift Transportation Holdings, Inc. | 4767 | 281730 |
| Lennox International, Inc. (b) | 1808 | 471201 |
| ManpowerGroup, Inc. | 5376 | 468572 |
| MSA Safety, Inc. | 1942 | 264869 |
| Oshkosh Corp. | 3597 | 362506 |
| Owens Corning | 3109 | 300485 |
| Ryder System, Inc. | 2642 | 249431 |
| Stericycle, Inc. (a) | 6275 | 337658 |
| The Brink's Co. | 2478 | 162557 |
| The Middleby Corp. (a) | 2822 | 438680 |
| The Toro Co. | 5634 | 628304 |
| Univar Solutions, Inc. (a) | 5606 | 193295 |
| XPO Logistics, Inc. (a)(b) | 5981 | 238403 |
|  |  | 7239019 |
| **Information Technology - 11.5%** |  |  |
| Amkor Technology, Inc. | 2986 | 87370 |
| Arrow Electronics, Inc. (a) | 4228 | 496748 |
| Avnet, Inc. (b) | 6547 | 300376 |
| Cognex Corp. | 10704 | 585937 |
| Coherent Corp. (a) | 4544 | 197210 |
| Envestnet, Inc. (a)(b) | 2688 | 174720 |
| Euronet Worldwide, Inc. (a) | 2354 | 265249 |
| IPG Photonics Corp. (a) | 2153 | 241351 |
| Jabil, Inc. | 5242 | 412178 |
| Kyndryl Holdings, Inc. (a) | 19954 | 267184 |
| Maximus, Inc. | 3473 | 259954 |
| SYNNEX Corp. (b) | 2210 | 225752 |
| The Western Union Co. (b) | 19093 | 270548 |
| Universal Display Corp. | 2583 | 342325 |
| Vishay Intertechnology, Inc. | 4047 | 92636 |
| Vontier Corp. | 7327 | 168741 |
| Xerox Holdings Corp. (b) | 4372 | 71613 |
|  |  | 4459892 |
| **Materials - 7.6%** |  |  |
| AptarGroup, Inc. (b) | 2937 | 339635 |
| Cleveland-Cliffs, Inc. (a) | 32377 | 691249 |
| Commercial Metals Co. (b) | 4974 | 269939 |
| Greif, Inc. - Class A | 900 | 64287 |
| Louisiana-Pacific Corp. (b) | 2554 | 173902 |
| Reliance Steel & Aluminum Co. | 2086 | 474461 |
| Scotts Miracle-Gro Co. (b) | 2507 | 180980 |
| United States Steel Corp. (b) | 17857 | 508746 |
| Westlake Chemical Corp. | 1407 | 172709 |
| Worthington Industries, Inc. | 1081 | 61476 |
|  |  | 2937384 |
| **Utilities - 0.8%** |  |  |
| UGI Corp. (b) | 8045 | 320432 |
| TOTAL COMMON STOCKS (Cost $32,356,285) |  | 36892132 |
| **REAL ESTATE INVESTMENT TRUSTS - 4.5%** |  |  |
| Cousins Properties, Inc. (b) | 8074 | 221389 |
| Douglas Emmett, Inc. | 9939 | 166478 |
| Highwoods Properties, Inc. (b) | 5835 | 177209 |
| JBG SMITH Properties | 5060 | 101908 |
| Jones Lang LaSalle, Inc. (a) | 1760 | 325371 |
| Medical Properties Trust, Inc. (b) | 26156 | 338720 |
| Park Hotels & Resorts, Inc. | 8035 | 118195 |
| SL Green Realty Corp. | 3597 | 148017 |
| The Macerich Co. | 10503 | 144311 |
| TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $1,732,643) |  | 1741598 |
|  | **Principal** <br> **Amount** |  |
| **SHORT-TERM INVESTMENTS - 0.1%** |  |  |
| **Money Market Deposit Accounts - 0.1%** |  |  |
| U.S. Bank Money Market Deposit Account 3.300% (c) | $40413 | 40413 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $40,413) |  | 40413 |
|  | **Shares** |  |
| **INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 22.2%** |  |  |
| Mount Vernon Liquid Assets Portfolio, LLC, 4.53% (c) | 8579791 | 8579791 |
| TOTAL INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING (Cost $8,579,791) |  | 8579791 |
| **Total Investments (Cost $42,709,132) - 122.2%** |  | 47253934 |
| **Liabilities in Excess of Other Assets - (22.2)%** |  | (8592604) |
| **TOTAL NET ASSETS - 100.0%** |  | $38661330 |

---

---

| | |
|:---|:---|
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. |
| <sup>(a)</sup> | Non-income producing security. |
| <sup>(b)</sup> | All or a portion of this security is on loan as of January 31, 2023. The total value of securities on loan is $8,611,028 or 22.3% of net assets. |
| <sup>(c)</sup> | The rate shown is as of January 31, 2023. |
| The Global Industry Classification Standard (GICS<sup>®</sup>) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI, Inc. and S&P and has been licensed for use by the Fund's Administrator, U.S. Bancorp Fund Services, LLC. | The Global Industry Classification Standard (GICS<sup>®</sup>) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI, Inc. and S&P and has been licensed for use by the Fund's Administrator, U.S. Bancorp Fund Services, LLC. |
| 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. |

---

------

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| |
|:---|
| **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 | $36892132 | $- | $- | $- | $36892132 |
| Real Estate Investment Trusts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1741598 | &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;1741598 |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40413 | &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; 40413 |
| 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; 8579791 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8579791 |
| Total Investments in Securities | $38674143 | $- | $- | $8579791 | $47253934 |

---

^ See Schedule of Investments for sector 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 Lunt Midcap Multi-Factor Alternator ETF

- **b. EDGAR series identifier (if any):** S000062276

- **c. LEI of Series:** 549300O5O7M21MR41648

**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:** $47260206.04

**Total Liabilities:** $8598965.35

**Net Assets:** $38661240.69

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000201847 | 6.49%                | -4.80%               | 12.11%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-903047.16              | $3308653.86                                |
| Month 2  | $1344286.60              | $-3259061.21                               |
| Month 3  | $-181237.70              | $4445801.35                                |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Amedisys Inc                              | Amedisys Inc                              | CUSIP: 023436108<br>LEI: 5299001RBS9GK9STN379 | Long             | EC               | CORP              | US        |      1990 | NS      | $192353.40    | 0.50%             |  |  |  | No            | 1                  | On Loan: No      |
| Amkor Technology Inc                      | Amkor Technology Inc                      | CUSIP: 031652100<br>LEI: 529900VHLRTKPWZJBM84 | Long             | EC               | CORP              | US        |      2986 | NS      | $87370.36     | 0.23%             |  |  |  | No            | 1                  | On Loan: No      |
| MGIC Investment Corp                      | MGIC Investment Corp                      | CUSIP: 552848103<br>LEI: 254900S8483WM4M98R28 | Long             | EC               | CORP              | US        |     13717 | NS      | $193684.04    | 0.50%             |  |  |  | No            | 1                  | On Loan: —       |
| MSA Safety Inc                            | MSA Safety Inc                            | CUSIP: 553498106<br>LEI: 529900DVA3258XK11O39 | Long             | EC               | CORP              | US        |      1942 | NS      | $264869.38    | 0.69%             |  |  |  | No            | 1                  | On Loan: No      |
| Arrowhead Pharmaceuticals Inc             | Arrowhead Pharmaceuticals Inc             | CUSIP: 04280A100<br>LEI: 549300O3CSB8T7OZ3D66 | Long             | EC               | CORP              | US        |      4802 | NS      | $168021.98    | 0.43%             |  |  |  | No            | 1                  | On Loan: No      |
| Associated Banc-Corp                      | Associated Banc-Corp                      | CUSIP: 045487105<br>LEI: 549300N3CIN473IW5094 | Long             | EC               | CORP              | US        |      4869 | NS      | $109114.29    | 0.28%             |  |  |  | No            | 1                  | On Loan: No      |
| Annaly Capital Management Inc             | Annaly Capital Management Inc             | CUSIP: 035710839<br>LEI: 2DTL0G3FPRYUT58TI025 | Long             | EC               | CORP              | US        |     20709 | NS      | $486040.23    | 1.26%             |  |  |  | No            | 1                  | On Loan: —       |
| Antero Resources Corp                     | Antero Resources Corp                     | CUSIP: 03674X106<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | EC               | CORP              | US        |     10882 | NS      | $313836.88    | 0.81%             |  |  |  | No            | 1                  | On Loan: —       |
| Encompass Health Corp                     | Encompass Health Corp                     | CUSIP: 29261A100<br>LEI: 549300FVRPM9DRQZRG64 | Long             | EC               | CORP              | US        |      5070 | NS      | $316621.50    | 0.82%             |  |  |  | No            | 1                  | On Loan: No      |
| Energizer Holdings Inc                    | Energizer Holdings Inc                    | CUSIP: 29272W109<br>LEI: 5493000D6NN0V57UME20 | Long             | EC               | CORP              | US        |      3798 | NS      | $140905.80    | 0.36%             |  |  |  | No            | 1                  | On Loan: No      |
| Macerich Co/The                           | Macerich Co/The                           | CUSIP: 554382101<br>LEI: 529900PSWCB5KI0JYU46 | Long             | EC               | CORP              | US        |     10503 | NS      | $144311.22    | 0.37%             |  |  |  | No            | 1                  | On Loan: No      |
| Macy's Inc                                | Macy's Inc                                | CUSIP: 55616P104<br>LEI: 529900NZQ81TIOW3CW52 | Long             | EC               | CORP              | US        |     16714 | NS      | $394951.82    | 1.02%             |  |  |  | No            | 1                  | On Loan: —       |
| AptarGroup Inc                            | AptarGroup Inc                            | CUSIP: 038336103<br>LEI: VNPEQDQFAA7IY1T2PX43 | Long             | EC               | CORP              | US        |      2937 | NS      | $339634.68    | 0.88%             |  |  |  | No            | 1                  | On Loan: —       |
| Azenta Inc                                | Azenta Inc                                | CUSIP: 114340102<br>LEI: 35ZN6X1ANPH25YN32Y17 | Long             | EC               | CORP              | US        |      3101 | NS      | $173345.90    | 0.45%             |  |  |  | No            | 1                  | On Loan: —       |
| Envestnet Inc                             | Envestnet Inc                             | CUSIP: 29404K106<br>LEI: 549300HLWZ5OKIDM8737 | Long             | EC               | CORP              | US        |      2688 | NS      | $174720.00    | 0.45%             |  |  |  | No            | 1                  | On Loan: —       |
| JBG SMITH Properties                      | JBG SMITH Properties                      | CUSIP: 46590V100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5060 | NS      | $101908.40    | 0.26%             |  |  |  | No            | 1                  | On Loan: No      |
| ManpowerGroup Inc                         | ManpowerGroup Inc                         | CUSIP: 56418H100<br>LEI: ERO1WSFOSR0JJ6CRQ987 | Long             | EC               | CORP              | US        |      5376 | NS      | $468572.16    | 1.21%             |  |  |  | No            | 1                  | On Loan: No      |
| Masimo Corp                               | Masimo Corp                               | CUSIP: 574795100<br>LEI: 549300Q4A8JK0PIYCU29 | Long             | EC               | CORP              | US        |      2650 | NS      | $450712.00    | 1.17%             |  |  |  | No            | 1                  | On Loan: No      |
| Jabil Inc                                 | Jabil Inc                                 | CUSIP: 466313103<br>LEI: 5493000CGCQY2OQU7669 | Long             | EC               | CORP              | US        |      5242 | NS      | $412178.46    | 1.07%             |  |  |  | No            | 1                  | On Loan: No      |
| Jefferies Financial Group Inc             | Jefferies Financial Group Inc             | CUSIP: 47233W109<br>LEI: 549300HOF34RGOJ5YL07 | Long             | EC               | CORP              | US        |      7433 | NS      | $291968.24    | 0.76%             |  |  |  | No            | 1                  | On Loan: No      |
| Builders FirstSource Inc                  | Builders FirstSource Inc                  | CUSIP: 12008R107<br>LEI: 549300W0SKP6L3H7DP63 | Long             | EC               | CORP              | US        |      7739 | NS      | $616798.30    | 1.60%             |  |  |  | No            | 1                  | On Loan: No      |
| CNO Financial Group Inc                   | CNO Financial Group Inc                   | CUSIP: 12621E103<br>LEI: 11XPYHB76MPM4Y4P2897 | Long             | EC               | CORP              | US        |      4114 | NS      | $105976.64    | 0.27%             |  |  |  | No            | 1                  | On Loan: No      |
| JetBlue Airways Corp                      | JetBlue Airways Corp                      | CUSIP: 477143101<br>LEI: 54930070J9H97ZO93T57 | Long             | EC               | CORP              | US        |     32417 | NS      | $259336.00    | 0.67%             |  |  |  | No            | 1                  | On Loan: No      |
| Jones Lang LaSalle Inc                    | Jones Lang LaSalle Inc                    | CUSIP: 48020Q107<br>LEI: 6SYKCME112RT8TQUO411 | Long             | EC               | CORP              | US        |      1760 | NS      | $325371.20    | 0.84%             |  |  |  | No            | 1                  | On Loan: No      |
| AutoNation Inc                            | AutoNation Inc                            | CUSIP: 05329W102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2095 | NS      | $265478.40    | 0.69%             |  |  |  | No            | 1                  | On Loan: No      |
| Avnet Inc                                 | Avnet Inc                                 | CUSIP: 053807103<br>LEI: XJI53DCPL7QABOWK4Z75 | Long             | EC               | CORP              | US        |      6547 | NS      | $300376.36    | 0.78%             |  |  |  | No            | 1                  | On Loan: —       |
| Maximus Inc                               | Maximus Inc                               | CUSIP: 577933104<br>LEI: 549300DQCDS8HJ7QF202 | Long             | EC               | CORP              | US        |      3473 | NS      | $259954.05    | 0.67%             |  |  |  | No            | 1                  | On Loan: No      |
| Middleby Corp/The                         | Middleby Corp/The                         | CUSIP: 596278101<br>LEI: JDFO86U9VQRBKW5KYA35 | Long             | EC               | CORP              | US        |      2822 | NS      | $438679.90    | 1.13%             |  |  |  | No            | 1                  | On Loan: No      |
| EnerSys                                   | EnerSys                                   | CUSIP: 29275Y102<br>LEI: 7ZS3DE5PN30BYUJFWP05 | Long             | EC               | CORP              | US        |      2440 | NS      | $202568.80    | 0.52%             |  |  |  | No            | 1                  | On Loan: No      |
| Five Below Inc                            | Five Below Inc                            | CUSIP: 33829M101<br>LEI: 529900AAXP5Z6BGI7418 | Long             | EC               | CORP              | US        |      2679 | NS      | $528111.27    | 1.37%             |  |  |  | No            | 1                  | On Loan: No      |
| Globus Medical Inc                        | Globus Medical Inc                        | CUSIP: 379577208<br>LEI: 5299003M2P4CIK0RF205 | Long             | EC               | CORP              | US        |      4228 | NS      | $319214.00    | 0.83%             |  |  |  | No            | 1                  | On Loan: No      |
| Highwoods Properties Inc                  | Highwoods Properties Inc                  | CUSIP: 431284108<br>LEI: ZIIGTYKL9T0X3HLTDX53 | Long             | EC               | CORP              | US        |      5835 | NS      | $177208.95    | 0.46%             |  |  |  | No            | 1                  | On Loan: —       |
| Cable One Inc                             | Cable One Inc                             | CUSIP: 12685J105<br>LEI: 549300648QS85T0XSH18 | Long             | EC               | CORP              | US        |       268 | NS      | $211687.84    | 0.55%             |  |  |  | No            | 1                  | On Loan: No      |
| Columbia Sportswear Co                    | Columbia Sportswear Co                    | CUSIP: 198516106<br>LEI: 549300OTMCIEUXAH5Z60 | Long             | EC               | CORP              | US        |      1789 | NS      | $171565.10    | 0.44%             |  |  |  | No            | 1                  | On Loan: No      |
| Ziff Davis Inc                            | Ziff Davis Inc                            | CUSIP: 48123V102<br>LEI: 5493008OJYGLHD7MXA18 | Long             | EC               | CORP              | US        |      2660 | NS      | $238016.80    | 0.62%             |  |  |  | No            | 1                  | On Loan: No      |
| Axon Enterprise Inc                       | Axon Enterprise Inc                       | CUSIP: 05464C101<br>LEI: 549300QP2IEEGFE16681 | Long             | EC               | CORP              | US        |      3616 | NS      | $706711.04    | 1.83%             |  |  |  | No            | 1                  | On Loan: No      |
| Boston Beer Co Inc/The                    | Boston Beer Co Inc/The                    | CUSIP: 100557107<br>LEI: 529900Q02MQ0DCQNRM58 | Long             | EC               | CORP              | US        |       641 | NS      | $249099.01    | 0.64%             |  |  |  | No            | 1                  | On Loan: No      |
| Murphy USA Inc                            | Murphy USA Inc                            | CUSIP: 626755102<br>LEI: 549300Y081F8XIKQIO72 | Long             | EC               | CORP              | US        |       651 | NS      | $177091.53    | 0.46%             |  |  |  | No            | 1                  | On Loan: No      |
| Navient Corp                              | Navient Corp                              | CUSIP: 63938C108<br>LEI: 54930067J0ZNOEBRW338 | Long             | EC               | CORP              | US        |      5778 | NS      | $109608.66    | 0.28%             |  |  |  | No            | 1                  | On Loan: No      |
| Neogen Corp                               | Neogen Corp                               | CUSIP: 640491106<br>LEI: 549300HJT9FC36N4UW43 | Long             | EC               | CORP              | US        |     16500 | NS      | $353265.00    | 0.91%             |  |  |  | No            | 1                  | On Loan: No      |
| New York Community Bancorp Inc            | New York Community Bancorp Inc            | CUSIP: 649445103<br>LEI: 529900HVXOTLY61GL030 | Long             | EC               | CORP              | US        |     31104 | NS      | $310728.96    | 0.80%             |  |  |  | No            | 1                  | On Loan: No      |
| Brighthouse Financial Inc                 | Brighthouse Financial Inc                 | CUSIP: 10922N103<br>LEI: 5493003T8SZSHOGGAW52 | Long             | EC               | CORP              | US        |      4898 | NS      | $275610.46    | 0.71%             |  |  |  | No            | 1                  | On Loan: No      |
| Brink's Co/The                            | Brink's Co/The                            | CUSIP: 109696104<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | EC               | CORP              | US        |      2478 | NS      | $162556.80    | 0.42%             |  |  |  | No            | 1                  | On Loan: No      |
| Nordstrom Inc                             | Nordstrom Inc                             | CUSIP: 655664100<br>LEI: 549300S3IZB5P35KNV16 | Long             | EC               | CORP              | US        |      5753 | NS      | $112413.62    | 0.29%             |  |  |  | No            | 1                  | On Loan: —       |
| Old Republic International Cor            | Old Republic International Corp           | CUSIP: 680223104<br>LEI: 549300IV6O2YY2A1KH37 | Long             | EC               | CORP              | US        |      9690 | NS      | $255719.10    | 0.66%             |  |  |  | No            | 1                  | On Loan: No      |
| Ollie's Bargain Outlet Holding            | Ollie's Bargain Outlet Holdings Inc       | CUSIP: 681116109<br>LEI: 529900YO5DSQCPEFDZ05 | Long             | EC               | CORP              | US        |      2727 | NS      | $149330.52    | 0.39%             |  |  |  | No            | 1                  | On Loan: No      |
| Omnicell Inc                              | Omnicell Inc                              | CUSIP: 68213N109<br>LEI: 5493008RH0GTKHHPZI77 | Long             | EC               | CORP              | US        |      2334 | NS      | $129466.98    | 0.33%             |  |  |  | No            | 1                  | On Loan: No      |
| PBF Energy Inc                            | PBF Energy Inc                            | CUSIP: 69318G106<br>LEI: 2549003PBEDCSZMZIY02 | Long             | EC               | CORP              | US        |      9824 | NS      | $412509.76    | 1.07%             |  |  |  | No            | 1                  | On Loan: No      |
| Park Hotels & Resorts Inc                 | Park Hotels & Resorts Inc                 | CUSIP: 700517105<br>LEI: 5493005UZ5TQN0H6HS73 | Long             | EC               | CORP              | US        |      8035 | NS      | $118194.85    | 0.31%             |  |  |  | No            | 1                  | On Loan: No      |
| KB Home                                   | KB Home                                   | CUSIP: 48666K109<br>LEI: 549300LGUCWQURMWLG09 | Long             | EC               | CORP              | US        |      5787 | NS      | $222510.15    | 0.58%             |  |  |  | No            | 1                  | On Loan: No      |
| Knight-Swift Transportation Ho            | Knight-Swift Transportation Holdings Inc  | CUSIP: 499049104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4767 | NS      | $281729.70    | 0.73%             |  |  |  | No            | 1                  | On Loan: No      |
| Progyny Inc                               | Progyny Inc                               | CUSIP: 74340E103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3922 | NS      | $134877.58    | 0.35%             |  |  |  | No            | 1                  | On Loan: No      |
| RH                                        | RH                                        | CUSIP: 74967X103<br>LEI: 5493008MTS3OGGMHGK69 | Long             | EC               | CORP              | US        |      1254 | NS      | $391235.46    | 1.01%             |  |  |  | No            | 1                  | On Loan: —       |
| Mount Vernon Liquid Assets Portfolio, LLC | Mount Vernon Liquid Assets Portfolio, LLC | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | PF                | US        |   8579791 | NS      | $8579791.25   | 22.19%            |  |  |  | No            | N/A                | On Loan: No      |
| Adient PLC                                | Adient PLC                                | CUSIP: N/A<br>LEI: 5493002QLDY8O75RTR78       | Long             | EC               | CORP              | US        |      6318 | NS      | $284436.36    | 0.74%             |  |  |  | No            | 1                  | On Loan: No      |
| Kohl's Corp                               | Kohl's Corp                               | CUSIP: 500255104<br>LEI: 549300JF6LPRTRJ0FH50 | Long             | EC               | CORP              | US        |     10126 | NS      | $327778.62    | 0.85%             |  |  |  | No            | 1                  | On Loan: No      |
| Oshkosh Corp                              | Oshkosh Corp                              | CUSIP: 688239201<br>LEI: 549300FEKNPCFSA2B506 | Long             | EC               | CORP              | US        |      3597 | NS      | $362505.66    | 0.94%             |  |  |  | No            | 1                  | On Loan: No      |
| Helen of Troy Ltd                         | Helen of Troy Ltd                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      1627 | NS      | $184029.97    | 0.48%             |  |  |  | No            | 1                  | On Loan: No      |
| Owens Corning                             | Owens Corning                             | CUSIP: 690742101<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | EC               | CORP              | US        |      3109 | NS      | $300484.85    | 0.78%             |  |  |  | No            | 1                  | On Loan: No      |
| PDC Energy Inc                            | PDC Energy Inc                            | CUSIP: 69327R101<br>LEI: 5493008W8H2T511J5Y59 | Long             | EC               | CORP              | US        |      4307 | NS      | $291713.11    | 0.75%             |  |  |  | No            | 1                  | On Loan: —       |
| Foot Locker Inc                           | Foot Locker Inc                           | CUSIP: 344849104<br>LEI: 549300X383CBNP6MTV94 | Long             | EC               | CORP              | US        |      8200 | NS      | $356782.00    | 0.92%             |  |  |  | No            | 1                  | On Loan: —       |
| Fox Factory Holding Corp                  | Fox Factory Holding Corp                  | CUSIP: 35138V102<br>LEI: 529900GE1HSV0617R721 | Long             | EC               | CORP              | US        |      2392 | NS      | $282471.28    | 0.73%             |  |  |  | No            | 1                  | On Loan: No      |
| PVH Corp                                  | PVH Corp                                  | CUSIP: 693656100<br>LEI: 123WALMHY1GZXG2YDL90 | Long             | EC               | CORP              | US        |      3560 | NS      | $320044.00    | 0.83%             |  |  |  | No            | 1                  | On Loan: No      |
| PacWest Bancorp                           | PacWest Bancorp                           | CUSIP: 695263103<br>LEI: 549300YI8VMFO7G36V04 | Long             | EC               | CORP              | US        |     11192 | NS      | $309570.72    | 0.80%             |  |  |  | No            | 1                  | On Loan: No      |
| Penumbra Inc                              | Penumbra Inc                              | CUSIP: 70975L107<br>LEI: 549300RGE06P3ECANU72 | Long             | EC               | CORP              | US        |      2143 | NS      | $536628.63    | 1.39%             |  |  |  | No            | 1                  | On Loan: No      |
| Performance Food Group Co                 | Performance Food Group Co                 | CUSIP: 71377A103<br>LEI: 549300EUK8GR9IT1YK57 | Long             | EC               | CORP              | US        |      5845 | NS      | $358415.40    | 0.93%             |  |  |  | No            | 1                  | On Loan: No      |
| Gap Inc/The                               | Gap Inc/The                               | CUSIP: 364760108<br>LEI: T2ZG1WRWZ4BUCMQL9224 | Long             | EC               | CORP              | US        |     13621 | NS      | $184836.97    | 0.48%             |  |  |  | No            | 1                  | On Loan: No      |
| Goodyear Tire & Rubber Co/The             | Goodyear Tire & Rubber Co/The             | CUSIP: 382550101<br>LEI: 5493002BI0S2ZQUY3437 | Long             | EC               | CORP              | US        |     24247 | NS      | $272778.75    | 0.71%             |  |  |  | No            | 1                  | On Loan: No      |
| Euronet Worldwide Inc                     | Euronet Worldwide Inc                     | CUSIP: 298736109<br>LEI: YG3575C4DSHJPA5KET68 | Long             | EC               | CORP              | US        |      2354 | NS      | $265248.72    | 0.69%             |  |  |  | No            | 1                  | On Loan: No      |
| Pilgrim's Pride Corp                      | Pilgrim's Pride Corp                      | CUSIP: 72147K108<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | EC               | CORP              | US        |      1990 | NS      | $48317.20     | 0.12%             |  |  |  | No            | 1                  | On Loan: No      |
| Post Holdings Inc                         | Post Holdings Inc                         | CUSIP: 737446104<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | EC               | CORP              | US        |      1722 | NS      | $163503.90    | 0.42%             |  |  |  | No            | 1                  | On Loan: No      |
| FNB Corp/PA                               | FNB Corp/PA                               | CUSIP: 302520101<br>LEI: PCYSKIGYNYFDTBLVZU83 | Long             | EC               | CORP              | US        |     11469 | NS      | $163662.63    | 0.42%             |  |  |  | No            | 1                  | On Loan: No      |
| First American Financial Corp             | First American Financial Corp             | CUSIP: 31847R102<br>LEI: 549300B6VEZK3N0A1P55 | Long             | EC               | CORP              | US        |      3587 | NS      | $221927.69    | 0.57%             |  |  |  | No            | 1                  | On Loan: No      |
| Prosperity Bancshares Inc                 | Prosperity Bancshares Inc                 | CUSIP: 743606105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2554 | NS      | $193746.44    | 0.50%             |  |  |  | No            | 1                  | On Loan: No      |
| Essent Group Ltd                          | Essent Group Ltd                          | CUSIP: N/A<br>LEI: 254900QUO860OUT6ZF83       | Long             | EC               | CORP              | US        |      4659 | NS      | $205135.77    | 0.53%             |  |  |  | No            | 1                  | On Loan: No      |
| Graham Holdings Co                        | Graham Holdings Co                        | CUSIP: 384637104<br>LEI: 529900BOSCEEEMAFQJ29 | Long             | EC               | CORP              | US        |       163 | NS      | $106489.53    | 0.28%             |  |  |  | No            | 1                  | On Loan: No      |
| Greif Inc                                 | Greif Inc                                 | CUSIP: 397624107<br>LEI: 54930070FVGKR0Z1FI24 | Long             | EC               | CORP              | US        |       900 | NS      | $64287.00     | 0.17%             |  |  |  | No            | 1                  | On Loan: No      |
| Janus Henderson Group PLC                 | Janus Henderson Group PLC                 | CUSIP: N/A<br>LEI: 2138009WPYMWJN3RVF44       | Long             | EC               | CORP              | GB        |     12311 | NS      | $319101.12    | 0.83%             |  |  |  | No            | 1                  | On Loan: —       |
| HF Sinclair Corp                          | HF Sinclair Corp                          | CUSIP: 403949100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9527 | NS      | $542086.30    | 1.40%             |  |  |  | No            | 1                  | On Loan: No      |
| Hanesbrands Inc                           | Hanesbrands Inc                           | CUSIP: 410345102<br>LEI: GX5LWVWZLL5S4W1L2F20 | Long             | EC               | CORP              | US        |     35047 | NS      | $295796.68    | 0.77%             |  |  |  | No            | 1                  | On Loan: —       |
| IAA Inc                                   | IAA Inc                                   | CUSIP: 449253103<br>LEI: 549300PZCOPC5178W747 | Long             | EC               | CORP              | US        |      7404 | NS      | $308968.92    | 0.80%             |  |  |  | No            | 1                  | On Loan: No      |
| IPG Photonics Corp                        | IPG Photonics Corp                        | CUSIP: 44980X109<br>LEI: 5493002KZ51CADQ94G15 | Long             | EC               | CORP              | US        |      2153 | NS      | $241351.30    | 0.62%             |  |  |  | No            | 1                  | On Loan: No      |
| ITT Inc                                   | ITT Inc                                   | CUSIP: 45073V108<br>LEI: 549300KDSERHTJOXUS80 | Long             | EC               | CORP              | US        |      4209 | NS      | $385502.31    | 1.00%             |  |  |  | No            | 1                  | On Loan: No      |
| Integra LifeSciences Holdings             | Integra LifeSciences Holdings Corp        | CUSIP: 457985208<br>LEI: WB7IJCYY8YFTENS4O147 | Long             | EC               | CORP              | US        |      3836 | NS      | $219802.80    | 0.57%             |  |  |  | No            | 1                  | On Loan: No      |
| Kyndryl Holdings Inc                      | Kyndryl Holdings Inc                      | CUSIP: 50155Q100<br>LEI: 549300LQ4LWX2R8ZV130 | Long             | EC               | CORP              | US        |     19954 | NS      | $267184.06    | 0.69%             |  |  |  | No            | 1                  | On Loan: No      |
| LHC Group Inc                             | LHC Group Inc                             | CUSIP: 50187A107<br>LEI: 5299009NPLWAMRQYZX73 | Long             | EC               | CORP              | US        |      1435 | NS      | $227591.00    | 0.59%             |  |  |  | No            | 1                  | On Loan: No      |
| Lancaster Colony Corp                     | Lancaster Colony Corp                     | CUSIP: 513847103<br>LEI: 529900X4O13HED1ZAS58 | Long             | EC               | CORP              | US        |      1407 | NS      | $270017.37    | 0.70%             |  |  |  | No            | 1                  | On Loan: No      |
| YETI Holdings Inc                         | YETI Holdings Inc                         | CUSIP: 98585X104<br>LEI: 549300DSQICIGNT5GO63 | Long             | EC               | CORP              | US        |      5013 | NS      | $224381.88    | 0.58%             |  |  |  | No            | 1                  | On Loan: No      |
| Commercial Metals Co                      | Commercial Metals Co                      | CUSIP: 201723103<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | EC               | CORP              | US        |      4974 | NS      | $269938.98    | 0.70%             |  |  |  | No            | 1                  | On Loan: —       |
| QuidelOrtho Corp                          | QuidelOrtho Corp                          | CUSIP: 219798105<br>LEI: 549300YU8CMO9HF53113 | Long             | EC               | CORP              | US        |      1973 | NS      | $168908.53    | 0.44%             |  |  |  | No            | 1                  | On Loan: —       |
| Cousins Properties Inc                    | Cousins Properties Inc                    | CUSIP: 222795502<br>LEI: 5493007XPYD5EJABN062 | Long             | EC               | CORP              | US        |      8074 | NS      | $221389.08    | 0.57%             |  |  |  | No            | 1                  | On Loan: —       |
| Cracker Barrel Old Country Sto            | Cracker Barrel Old Country Store Inc      | CUSIP: 22410J106<br>LEI: 8P4PHQIUWPIECBFBW745 | Long             | EC               | CORP              | US        |      1120 | NS      | $124969.60    | 0.32%             |  |  |  | No            | 1                  | On Loan: No      |
| Crocs Inc                                 | Crocs Inc                                 | CUSIP: 227046109<br>LEI: 549300B0J6YCXD63OG72 | Long             | EC               | CORP              | US        |      3119 | NS      | $379800.63    | 0.98%             |  |  |  | No            | 1                  | On Loan: —       |
| Dana Inc                                  | Dana Inc                                  | CUSIP: 235825205<br>LEI: KVWHW7YLZPFJM8QYNJ51 | Long             | EC               | CORP              | US        |      5276 | NS      | $95706.64     | 0.25%             |  |  |  | No            | 1                  | On Loan: No      |
| Donaldson Co Inc                          | Donaldson Co Inc                          | CUSIP: 257651109<br>LEI: OZE6KXY9QQPR8EJ8WL20 | Long             | EC               | CORP              | US        |      5797 | NS      | $361442.95    | 0.93%             |  |  |  | No            | 1                  | On Loan: No      |
| Douglas Emmett Inc                        | Douglas Emmett Inc                        | CUSIP: 25960P109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9939 | NS      | $166478.25    | 0.43%             |  |  |  | No            | 1                  | On Loan: No      |
| Medical Properties Trust Inc              | Medical Properties Trust Inc              | CUSIP: 58463J304<br>LEI: 254900U6E39J1MQCCY14 | Long             | EC               | CORP              | US        |     26156 | NS      | $338720.20    | 0.88%             |  |  |  | No            | 1                  | On Loan: —       |
| New York Times Co/The                     | New York Times Co/The                     | CUSIP: 650111107<br>LEI: 529900J1WEMMIW7BOH57 | Long             | EC               | CORP              | US        |      8150 | NS      | $283946.00    | 0.73%             |  |  |  | No            | 1                  | On Loan: No      |
| Reliance Steel & Aluminum Co              | Reliance Steel & Aluminum Co              | CUSIP: 759509102<br>LEI: 549300E287ZOFT3C5Z56 | Long             | EC               | CORP              | US        |      2086 | NS      | $474460.70    | 1.23%             |  |  |  | No            | 1                  | On Loan: No      |
| Unum Group                                | Unum Group                                | CUSIP: 91529Y106<br>LEI: 549300E32YFDO6TZ8R31 | Long             | EC               | CORP              | US        |      8576 | NS      | $360449.28    | 0.93%             |  |  |  | No            | 1                  | On Loan: No      |
| Xerox Holdings Corp                       | Xerox Holdings Corp                       | CUSIP: 98421M106<br>LEI: 5493000Y33XDVO2CXC18 | Long             | EC               | CORP              | US        |      4372 | NS      | $71613.36     | 0.19%             |  |  |  | No            | 1                  | On Loan: —       |
| Cognex Corp                               | Cognex Corp                               | CUSIP: 192422103<br>LEI: 549300JQTYZCLC43S226 | Long             | EC               | CORP              | US        |     10704 | NS      | $585936.96    | 1.52%             |  |  |  | No            | 1                  | On Loan: No      |
| Coherent Corp                             | Coherent Corp                             | CUSIP: 19247G107<br>LEI: 549300O5C25A0MMHHU33 | Long             | EC               | CORP              | US        |      4544 | NS      | $197209.60    | 0.51%             |  |  |  | No            | 1                  | On Loan: No      |
| Enovis Corp                               | Enovis Corp                               | CUSIP: 194014502<br>LEI: 635400OP2DYYYMOIYL17 | Long             | EC               | CORP              | US        |      3980 | NS      | $250541.00    | 0.65%             |  |  |  | No            | 1                  | On Loan: No      |
| Lennox International Inc                  | Lennox International Inc                  | CUSIP: 526107107<br>LEI: S7DWAC87RDMPBF77GJ92 | Long             | EC               | CORP              | US        |      1808 | NS      | $471200.96    | 1.22%             |  |  |  | No            | 1                  | On Loan: —       |
| Louisiana-Pacific Corp                    | Louisiana-Pacific Corp                    | CUSIP: 546347105<br>LEI: 549300C7E2UAO5BVRR75 | Long             | EC               | CORP              | US        |      2554 | NS      | $173901.86    | 0.45%             |  |  |  | No            | 1                  | On Loan: —       |
| UGI Corp                                  | UGI Corp                                  | CUSIP: 902681105<br>LEI: DX6GCWD4Q1JO9CRE5I40 | Long             | EC               | CORP              | US        |      8045 | NS      | $320432.35    | 0.83%             |  |  |  | No            | 1                  | On Loan: —       |
| Under Armour Inc                          | Under Armour Inc                          | CUSIP: 904311107<br>LEI: 549300D4549QKWETZ406 | Long             | EC               | CORP              | US        |     11039 | NS      | $136773.21    | 0.35%             |  |  |  | No            | 1                  | On Loan: —       |
| Western Union Co/The                      | Western Union Co/The                      | CUSIP: 959802109<br>LEI: 28ID94QU1140NC23S047 | Long             | EC               | CORP              | US        |     19093 | NS      | $270547.81    | 0.70%             |  |  |  | No            | 1                  | On Loan: —       |
| Westlake Corp                             | Westlake Corp                             | CUSIP: 960413102<br>LEI: GOXNEVUM0LL78B1OS344 | Long             | EC               | CORP              | US        |      1407 | NS      | $172709.25    | 0.45%             |  |  |  | No            | 1                  | On Loan: No      |
| Worthington Industries Inc                | Worthington Industries Inc                | CUSIP: 981811102<br>LEI: 1WRCIANKYOIK6KYE5E82 | Long             | EC               | CORP              | US        |      1081 | NS      | $61476.47     | 0.16%             |  |  |  | No            | 1                  | On Loan: No      |
| Arrow Electronics Inc                     | Arrow Electronics Inc                     | CUSIP: 042735100<br>LEI: 549300YNNLBXT8N8R512 | Long             | EC               | CORP              | US        |      4228 | NS      | $496747.72    | 1.28%             |  |  |  | No            | 1                  | On Loan: No      |
| Cleveland-Cliffs Inc                      | Cleveland-Cliffs Inc                      | CUSIP: 185899101<br>LEI: 549300TM2WLI2BJMDD86 | Long             | EC               | CORP              | US        |     32377 | NS      | $691248.95    | 1.79%             |  |  |  | No            | 1                  | On Loan: No      |
| Lear Corp                                 | Lear Corp                                 | CUSIP: 521865204<br>LEI: 549300UPNBTXA1SYTQ33 | Long             | EC               | CORP              | US        |      1856 | NS      | $270567.68    | 0.70%             |  |  |  | No            | 1                  | On Loan: No      |
| Lithia Motors Inc                         | Lithia Motors Inc                         | CUSIP: 536797103<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | EC               | CORP              | US        |      3203 | NS      | $843029.60    | 2.18%             |  |  |  | No            | 1                  | On Loan: —       |
| SL Green Realty Corp                      | SL Green Realty Corp                      | CUSIP: 78440X887<br>LEI: 549300VQZPJU97H3GT17 | Long             | EC               | CORP              | US        |      3597 | NS      | $148016.55    | 0.38%             |  |  |  | No            | 1                  | On Loan: No      |
| Scotts Miracle-Gro Co/The                 | Scotts Miracle-Gro Co/The                 | CUSIP: 810186106<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | EC               | CORP              | US        |      2507 | NS      | $180980.33    | 0.47%             |  |  |  | No            | 1                  | On Loan: —       |
| Skechers USA Inc                          | Skechers USA Inc                          | CUSIP: 830566105<br>LEI: 529900D2R54KZPA4XR56 | Long             | EC               | CORP              | US        |     10235 | NS      | $492815.25    | 1.27%             |  |  |  | No            | 1                  | On Loan: No      |
| Tandem Diabetes Care Inc                  | Tandem Diabetes Care Inc                  | CUSIP: 875372203<br>LEI: 549300JEPFOD0K4D3I05 | Long             | EC               | CORP              | US        |      3310 | NS      | $134849.40    | 0.35%             |  |  |  | No            | 1                  | On Loan: No      |
| Tenet Healthcare Corp                     | Tenet Healthcare Corp                     | CUSIP: 88033G407<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | EC               | CORP              | US        |      4764 | NS      | $261305.40    | 0.68%             |  |  |  | No            | 1                  | On Loan: No      |
| Thor Industries Inc                       | Thor Industries Inc                       | CUSIP: 885160101<br>LEI: 254900XZO1228PDSG060 | Long             | EC               | CORP              | US        |      6237 | NS      | $594573.21    | 1.54%             |  |  |  | No            | 1                  | On Loan: No      |
| Toll Brothers Inc                         | Toll Brothers Inc                         | CUSIP: 889478103<br>LEI: 529900JB6IS9MSZGVR44 | Long             | EC               | CORP              | US        |      5187 | NS      | $308574.63    | 0.80%             |  |  |  | No            | 1                  | On Loan: —       |
| Toro Co/The                               | Toro Co/The                               | CUSIP: 891092108<br>LEI: YJKE4YIT6BWQHVEW0D14 | Long             | EC               | CORP              | US        |      5634 | NS      | $628303.68    | 1.63%             |  |  |  | No            | 1                  | On Loan: No      |
| TripAdvisor Inc                           | TripAdvisor Inc                           | CUSIP: 896945201<br>LEI: 549300XVG45PT5BART17 | Long             | EC               | CORP              | US        |      5931 | NS      | $138192.30    | 0.36%             |  |  |  | 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        |     40413 | NS      | $40412.84     | 0.10%             |  |  |  | No            | 1                  | On Loan: No      |
| Under Armour Inc                          | Under Armour Inc                          | CUSIP: 904311206<br>LEI: 549300D4549QKWETZ406 | Long             | EC               | CORP              | US        |     11613 | NS      | $126581.70    | 0.33%             |  |  |  | No            | 1                  | On Loan: No      |
| United States Steel Corp                  | United States Steel Corp                  | CUSIP: 912909108<br>LEI: JNLUVFYJT1OZSIQ24U47 | Long             | EC               | CORP              | US        |     17857 | NS      | $508745.93    | 1.32%             |  |  |  | No            | 1                  | On Loan: —       |
| Univar Solutions Inc                      | Univar Solutions Inc                      | CUSIP: 91336L107<br>LEI: 549300VSXHFQVR770L55 | Long             | EC               | CORP              | US        |      5606 | NS      | $193294.88    | 0.50%             |  |  |  | No            | 1                  | On Loan: No      |
| Universal Display Corp                    | Universal Display Corp                    | CUSIP: 91347P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2583 | NS      | $342324.99    | 0.89%             |  |  |  | No            | 1                  | On Loan: No      |
| Valley National Bancorp                   | Valley National Bancorp                   | CUSIP: 919794107<br>LEI: 549300ET52S1UBIB9762 | Long             | EC               | CORP              | US        |     12904 | NS      | $153299.52    | 0.40%             |  |  |  | No            | 1                  | On Loan: —       |
| Vishay Intertechnology Inc                | Vishay Intertechnology Inc                | CUSIP: 928298108<br>LEI: 5493009O8F3QQJTCQR75 | Long             | EC               | CORP              | US        |      4047 | NS      | $92635.83     | 0.24%             |  |  |  | No            | 1                  | On Loan: No      |
| Vontier Corp                              | Vontier Corp                              | CUSIP: 928881101<br>LEI: 549300VVSQLG4P5K4639 | Long             | EC               | CORP              | US        |      7327 | NS      | $168740.81    | 0.44%             |  |  |  | No            | 1                  | On Loan: No      |
| Voya Financial Inc                        | Voya Financial Inc                        | CUSIP: 929089100<br>LEI: 549300T065Z4KJ686G75 | Long             | EC               | CORP              | US        |      2803 | NS      | $195565.31    | 0.51%             |  |  |  | No            | 1                  | On Loan: —       |
| XPO Inc                                   | XPO Inc                                   | CUSIP: 983793100<br>LEI: 54930096DB9LCLPN7H13 | Long             | EC               | CORP              | US        |      5981 | NS      | $238402.66    | 0.62%             |  |  |  | No            | 1                  | On Loan: —       |
| Kemper Corp                               | Kemper Corp                               | CUSIP: 488401100<br>LEI: 549300FNI1JKTRY2PV09 | Long             | EC               | CORP              | US        |      3291 | NS      | $193280.43    | 0.50%             |  |  |  | No            | 1                  | On Loan: No      |
| Ryder System Inc                          | Ryder System Inc                          | CUSIP: 783549108<br>LEI: ZXJ6Y2OSPZXIVGRILD15 | Long             | EC               | CORP              | US        |      2642 | NS      | $249431.22    | 0.65%             |  |  |  | No            | 1                  | On Loan: No      |
| Southwestern Energy Co                    | Southwestern Energy Co                    | CUSIP: 845467109<br>LEI: EFWMP121W54QV9MGOP87 | Long             | EC               | CORP              | US        |     42786 | NS      | $236178.72    | 0.61%             |  |  |  | No            | 1                  | On Loan: No      |
| STAAR Surgical Co                         | STAAR Surgical Co                         | CUSIP: 852312305<br>LEI: 5299006LRHI7OJ8BY308 | Long             | EC               | CORP              | US        |      2095 | NS      | $147802.25    | 0.38%             |  |  |  | No            | 1                  | On Loan: No      |
| Stericycle Inc                            | Stericycle Inc                            | CUSIP: 858912108<br>LEI: B8PTJH2P0AXSWSMP2136 | Long             | EC               | CORP              | US        |      6275 | NS      | $337657.75    | 0.87%             |  |  |  | No            | 1                  | On Loan: No      |
| TD SYNNEX Corp                            | TD SYNNEX Corp                            | CUSIP: 87162W100<br>LEI: 5493004HI6PFLF46NS53 | Long             | EC               | CORP              | US        |      2210 | NS      | $225751.50    | 0.58%             |  |  |  | No            | 1                  | On Loan: —       |
| Syneos Health Inc                         | Syneos Health Inc                         | CUSIP: 87166B102<br>LEI: 549300F1ZGKDS8P6GU13 | Long             | EC               | CORP              | US        |      3846 | NS      | $138148.32    | 0.36%             |  |  |  | No            | 1                  | On Loan: No      |
| Taylor Morrison Home Corp                 | Taylor Morrison Home Corp                 | CUSIP: 87724P106<br>LEI: 5299009UDLLGLKOOJE30 | Long             | EC               | CORP              | US        |      7720 | NS      | $276376.00    | 0.71%             |  |  |  | No            | 1                  | On Loan: —       |
| Tempur Sealy International Inc            | Tempur Sealy International Inc            | CUSIP: 88023U101<br>LEI: 549300HFEKVR3US71V91 | Long             | EC               | CORP              | US        |      8762 | NS      | $357051.50    | 0.92%             |  |  |  | No            | 1                  | On Loan: No      |

### 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