# EDGAR Filing Document

**Accession Number:** 0001616668
**File Stem:** 0001145549-23-018681
**Filing Date:** 2023-3
**Character Count:** 54504
**Document Hash:** 3bac4f727f8cfbcdd4dcb290930a73a7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-018681.hdr.sgml**: 20230328

**ACCESSION NUMBER**: 0001145549-23-018681

**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:** 23768009

**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 US Cash Cows 100 ETF (Series ID: S000055466)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000174482 | Pacer US Cash Cows 100 ETF | COWZ            |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Pacer US Cash Cows 100 ETF** | | |
| **Schedule of Investments** | | |
| **January 31, 2023 (Unaudited)** | | |
|  |<br><br>**Shares** |<br><br>**Value** |
| **COMMON STOCKS - 98.8%** | | |
| **Communication Services - 6.0%** | | |
| Fox Corp. - Class A (a) | 2951903 | $100187588 |
| Live Nation Entertainment, Inc. (a)(b) | 1023725 | 82399625 |
| Lumen Technologies, Inc. (a) | 23973441 | 125860565 |
| Meta Platforms Inc. - Class A (b) | 1974878 | 294197576 |
| Nexstar Media Group, Inc. (a) | 400598 | 82030452 |
| Playtika Holding Corp. (b) | 2148490 | 22537660 |
| TripAdvisor, Inc. (a)(b) | 1184830 | 27606539 |
|  |  | 734820005 |
| **Consumer Discretionary - 6.2%** |  |  |
| AutoNation, Inc. (a)(b) | 473783 | 60037782 |
| Boyd Gaming Corp. | 675942 | 42117946 |
| Expedia Group, Inc. (b) | 1679805 | 192001712 |
| H&R Block, Inc. (a) | 929577 | 36234911 |
| Lennar Corp. - Class A (a) | 1284198 | 131501875 |
| Macy's, Inc. (a) | 2653139 | 62693675 |
| NVR, Inc. (b) | 14645 | 77179150 |
| Thor Industries, Inc. (a) | 442039 | 42139578 |
| Under Armour, Inc. - Class A (a)(b) | 4249665 | 52653349 |
| Williams-Sonoma, Inc. (a) | 499684 | 67427359 |
|  |  | 763987337 |
| **Consumer Staples - 4.0%** |  |  |
| Albertsons Cos., Inc. - Class A | 4597925 | 97476010 |
| Altria Group, Inc. | 5078074 | 228716453 |
| The Kroger Co. | 3801136 | 169644700 |
|  |  | 495837163 |
| **Energy - 31.7%** |  |  |
| Antero Resources Corp. (a)(b) | 3301168 | 95205685 |
| APA Corp. (a) | 3520864 | 156079901 |
| Cheniere Energy, Inc. | 1383913 | 211448067 |
| Chesapeake Energy Corp. (a) | 1090067 | 94530610 |
| Chevron Corp. | 1346756 | 234362479 |
| ConocoPhillips | 1995143 | 243148077 |
| Coterra Energy, Inc. (a) | 6768874 | 169424916 |
| Devon Energy Corp. | 2670733 | 168897155 |
| Diamondback Energy, Inc. | 1556508 | 227436949 |
| EOG Resources, Inc. | 1754722 | 232061984 |
| EQT Corp. (a) | 2883428 | 94201593 |
| Exxon Mobil Corp. | 2207374 | 256077458 |
| HF Sinclair Corp. | 1755450 | 99885105 |
| Marathon Oil Corp. | 7040541 | 193403661 |
| Marathon Petroleum Corp. | 2051355 | 263640145 |
| Occidental Petroleum Corp. (a) | 3555375 | 230352746 |
| Ovintiv, Inc. | 1741340 | 85726168 |
| PDC Energy, Inc. | 434742 | 29445076 |
| Phillips 66 | 2273952 | 228009167 |
| Pioneer Natural Resources Co. | 1012734 | 233283277 |
| Range Resources Corp. (a) | 2206478 | 55206080 |
| Southwestern Energy Co. (a)(b) | 6775245 | 37399352 |
| Valero Energy Corp. | 1908552 | 267254537 |
|  |  | 3906480188 |
| **Health Care - 14.6%** |  |  |
| Cardinal Health, Inc. | 2227576 | 172080246 |
| CVS Health Corp. | 2357316 | 207962417 |
| Exelixis, Inc. (b) | 1056000 | 18606720 |
| Gilead Sciences, Inc. | 2716295 | 228005802 |
| Hologic, Inc. (b) | 1397061 | 113678854 |
| Jazz Pharmaceuticals PLC (b) | 363000 | 56867580 |
| Maravai LifeSciences Holdings, Inc. (b) | 1838701 | 26955357 |
| McKesson Corp. (a) | 593701 | 224822695 |
| Moderna, Inc. (b) | 1329787 | 234122299 |
| Pfizer, Inc. | 4763675 | 210363888 |
| Premier, Inc. (a) | 617421 | 20597164 |
| Quest Diagnostics, Inc. | 520336 | 77259489 |
| QuidelOrtho Corp. (a)(b) | 525221 | 44964170 |
| Viatris, Inc. | 13571186 | 165025622 |
|  |  | 1801312303 |
| **Industrials - 4.5%** |  |  |
| Allison Transmission Holdings, Inc. | 563189 | 25388560 |
| Builders FirstSource, Inc. (b) | 2681290 | 213698813 |
| CACI International, Inc. (b) | 119438 | 36797654 |
| Expeditors International of Washington, Inc. (a) | 864494 | 93495026 |
| Knight-Swift Transportation Holdings, Inc. (a) | 805577 | 47609601 |
| Landstar System, Inc. (a) | 145540 | 25153678 |
| ManpowerGroup, Inc. | 285730 | 24904227 |
| Owens Corning | 560280 | 54151062 |
| Robert Half International, Inc. (a) | 376565 | 31616397 |
|  |  | 552815018 |
| **Information Technology - 11.6%** |  |  |
| Cisco Systems, Inc. | 4866336 | 236844573 |
| Cognizant Technology Solutions Corp. | 2043171 | 136381664 |
| Dell Technologies, Inc. - Class C | 4474618 | 181758983 |
| Dropbox, Inc. - Class A (b) | 1776545 | 41269140 |
| DXC Technology Co. (b) | 2023298 | 58129352 |
| Euronet Worldwide, Inc. (a)(b) | 249755 | 28142393 |
| HP, Inc. | 8161115 | 237814891 |
| Lumentum Holdings, Inc. (a)(b) | 328543 | 19771718 |
| MKS Instruments, Inc. (a) | 233605 | 23902464 |
| PayPal Holdings, Inc. (a)(b) | 3268192 | 266324966 |
| Pure Storage, Inc. - Class A (b) | 1046670 | 30290630 |
| Qorvo, Inc. (b) | 446697 | 48538096 |
| Teradata Corp. (b) | 565754 | 19733500 |
| WEX, Inc. (b) | 159480 | 29499016 |
| Zoom Video Communications, Inc. - Class A (a)(b) | 863415 | 64756125 |
|  |  | 1423157511 |
| **Materials - 18.2%** |  |  |
| Alcoa Corp. | 855904 | 44712425 |
| Celanese Corp. (a) | 636415 | 78406328 |
| CF Industries Holdings, Inc. (a) | 2180202 | 184663109 |
| Cleveland-Cliffs, Inc. (a)(b) | 6914153 | 147617167 |
| Dow, Inc. (a) | 4728705 | 280648642 |
| Eagle Materials, Inc. | 181032 | 26445155 |
| Huntsman Corp. (a) | 2103662 | 66665049 |
| Louisiana-Pacific Corp. (a) | 753135 | 51280962 |
| LyondellBasell Industries NV | 2871790 | 277673375 |
| Mosaic Co. (a) | 2321457 | 115004980 |
| Nucor Corp. (a) | 1572563 | 265794598 |
| Olin Corp. | 1668784 | 107786759 |
| Reliance Steel & Aluminum Co. | 349823 | 79567241 |
| Steel Dynamics, Inc. (a) | 1587272 | 191488494 |
| The Chemours Co. (a) | 824795 | 30014290 |
| United States Steel Corp. (a) | 5327858 | 151790674 |
| Westlake Chemical Corp. (a) | 1113036 | 136625169 |
|  |  | 2236184417 |
| **Real Estate - 2.0%** |  |  |
| Zillow Group, Inc. - Class C (a)(b) | 5656575 | 250077181 |
| TOTAL COMMON STOCKS (Cost $11,266,453,157) |  | 12164671123 |
| **REAL ESTATE INVESTMENT TRUSTS - 1.1%** |  |  |
| Weyerhaeuser Co. (a) | 3975161 | 136864793 |
| TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $136,805,225) |  | 136864793 |
|  | **Principal** <br> **Amount** |  |
| **SHORT-TERM INVESTMENTS - 0.1%** |  |  |
| **Money Market Deposit Accounts - 0.1%** |  |  |
| U.S. Bank Money Market Deposit Account 3.300% (c) | $10493128 | 10493128 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $10,493,128) |  | 10493128 |
|  | **Shares** |  |
| **INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 8.4%** |  |  |
| Mount Vernon Liquid Assets Portfolio, LLC, 4.530% (c) | 1032253701 | 1032253701 |
| TOTAL INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING (Cost $1,032,253,701) |  | 1032253701 |
| **Total Investments (Cost $12,446,005,211) - 108.4%** |  | 13344282745 |
| **Liabilities in Excess of Other Assets - (8.4)%** |  | (1028259029) |
| **TOTAL NET ASSETS - 100.0%** |  | $12316023716 |

---

---

| | |
|:---|:---|
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. |
| <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 $1,032,234,032 or 8.4% of net assets. |
| <sup>(b)</sup> | Non-income producing security. |
| <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. |

---

------

---

| |
|:---|
| **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.<br>

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.<br>

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 | $12164671123 | $- | $- | $- | $12164671123 |
| Real Estate Investment Trusts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 136864793 | &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; 136864793 |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10493128 | &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; 10493128 |
| 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; 1032253701 | &nbsp;&nbsp;&nbsp;&nbsp; 1032253701 |
| Total Investments in Securities | $12312029044 | $- | $- | $1032253701 | $13344282745 |

---

^ See Schedule of Investments for sector breakouts.<br>

For the period ended January 31, 2023, the Fund did not recognize any transfers to or from Level 3.<br>

## 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 US Cash Cows 100 ETF

- **b. EDGAR series identifier (if any):** S000055466

- **c. LEI of Series:** 54930060GYZPJJ3VGH78

**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:** $13375322567.64

**Total Liabilities:** $1143835438.60

**Net Assets:** $12231487129.04

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000174482 | 6.43%                | -5.81%               | 7.57%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $6436432.03              | $561693429.77                              |
| Month 2  | $45417622.23             | $-683911107.33                             |
| Month 3  | $790407.64               | $798957260.99                              |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Albertsons Cos Inc                        | Albertsons Cos Inc                         | CUSIP: 013091103<br>LEI: 549300YKWOC0AOR16R51 | Long             | EC               | CORP              | US        |    4566373 | NS      | $96807107.60   | 0.79%             |  |  |  | No            | 1                  | On Loan: No      |
| Alcoa Corp                                | Alcoa Corp                                 | CUSIP: 013872106<br>LEI: 549300T12EZ1F6PWWU29 | Long             | EC               | CORP              | US        |     850056 | NS      | $44406925.44   | 0.36%             |  |  |  | No            | 1                  | On Loan: No      |
| Allison Transmission Holdings             | Allison Transmission Holdings Inc          | CUSIP: 01973R101<br>LEI: 529900RP7DJ882LI9T83 | Long             | EC               | CORP              | US        |     559347 | NS      | $25215362.76   | 0.21%             |  |  |  | No            | 1                  | On Loan: No      |
| Altria Group Inc                          | Altria Group Inc                           | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               | CORP              | US        |    5043224 | NS      | $227146808.96  | 1.86%             |  |  |  | No            | 1                  | On Loan: No      |
| Antero Resources Corp                     | Antero Resources Corp                      | CUSIP: 03674X106<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | EC               | CORP              | US        |    3278524 | NS      | $94552632.16   | 0.77%             |  |  |  | No            | 1                  | On Loan: —       |
| APA Corp                                  | APA Corp                                   | CUSIP: 03743Q108<br>LEI: 549300VCIWLRHYVSHC79 | Long             | EC               | CORP              | US        |    3496724 | NS      | $155009774.92  | 1.27%             |  |  |  | No            | 1                  | On Loan: —       |
| AutoNation Inc                            | AutoNation Inc                             | CUSIP: 05329W102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     470553 | NS      | $59628476.16   | 0.49%             |  |  |  | No            | 1                  | On Loan: —       |
| H&R Block Inc                             | H&R Block Inc                              | CUSIP: 093671105<br>LEI: 549300CE3KUCWLZBG404 | Long             | EC               | CORP              | US        |     923219 | NS      | $35987076.62   | 0.29%             |  |  |  | No            | 1                  | On Loan: —       |
| Boyd Gaming Corp                          | Boyd Gaming Corp                           | CUSIP: 103304101<br>LEI: 254900787YGRYS2A1Z35 | Long             | EC               | CORP              | US        |     671318 | NS      | $41829824.58   | 0.34%             |  |  |  | No            | 1                  | On Loan: No      |
| Builders FirstSource Inc                  | Builders FirstSource Inc                   | CUSIP: 12008R107<br>LEI: 549300W0SKP6L3H7DP63 | Long             | EC               | CORP              | US        |    2662896 | NS      | $212232811.20  | 1.74%             |  |  |  | No            | 1                  | On Loan: No      |
| CF Industries Holdings Inc                | CF Industries Holdings Inc                 | CUSIP: 125269100<br>LEI: 529900CG8YAQFZ2JMV97 | Long             | EC               | CORP              | US        |    2165242 | NS      | $183395997.40  | 1.50%             |  |  |  | No            | 1                  | On Loan: —       |
| CVS Health Corp                           | CVS Health Corp                            | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |    2341166 | NS      | $206537664.52  | 1.69%             |  |  |  | No            | 1                  | On Loan: No      |
| Coterra Energy Inc                        | Coterra Energy Inc                         | CUSIP: 127097103<br>LEI: FCNMH6O7VWU7LHXMK351 | Long             | EC               | CORP              | US        |    6722430 | NS      | $168262422.90  | 1.38%             |  |  |  | No            | 1                  | On Loan: —       |
| CACI International Inc                    | CACI International Inc                     | CUSIP: 127190304<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | EC               | CORP              | US        |     118622 | NS      | $36546251.98   | 0.30%             |  |  |  | No            | 1                  | On Loan: No      |
| Cardinal Health Inc                       | Cardinal Health Inc                        | CUSIP: 14149Y108<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | EC               | CORP              | US        |    2212310 | NS      | $170900947.50  | 1.40%             |  |  |  | No            | 1                  | On Loan: No      |
| Celanese Corp                             | Celanese Corp                              | CUSIP: 150870103<br>LEI: 549300FHJQTDPPN41627 | Long             | EC               | CORP              | US        |     632063 | NS      | $77870161.60   | 0.64%             |  |  |  | No            | 1                  | On Loan: —       |
| Chemours Co/The                           | Chemours Co/The                            | CUSIP: 163851108<br>LEI: 549300M1BOLNXL8DOV14 | Long             | EC               | CORP              | US        |     819151 | NS      | $29808904.89   | 0.24%             |  |  |  | No            | 1                  | On Loan: —       |
| Cheniere Energy Inc                       | Cheniere Energy Inc                        | CUSIP: 16411R208<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | EC               | CORP              | US        |    1374427 | NS      | $209998701.33  | 1.72%             |  |  |  | No            | 1                  | On Loan: No      |
| Chesapeake Energy Corp                    | Chesapeake Energy Corp                     | CUSIP: 165167735<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | EC               | CORP              | US        |    1082587 | NS      | $93881944.64   | 0.77%             |  |  |  | No            | 1                  | On Loan: —       |
| Chevron Corp                              | Chevron Corp                               | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    1337542 | NS      | $232759058.84  | 1.90%             |  |  |  | No            | 1                  | On Loan: No      |
| Cisco Systems Inc                         | Cisco Systems Inc                          | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |    4832948 | NS      | $235219579.16  | 1.92%             |  |  |  | No            | 1                  | On Loan: No      |
| Cleveland-Cliffs Inc                      | Cleveland-Cliffs Inc                       | CUSIP: 185899101<br>LEI: 549300TM2WLI2BJMDD86 | Long             | EC               | CORP              | US        |    6866723 | NS      | $146604536.05  | 1.20%             |  |  |  | No            | 1                  | On Loan: —       |
| Cognizant Technology Solutions            | Cognizant Technology Solutions Corp        | CUSIP: 192446102<br>LEI: 5493006IEVQEFQO40L83 | Long             | EC               | CORP              | US        |    2029163 | NS      | $135446630.25  | 1.11%             |  |  |  | No            | 1                  | On Loan: No      |
| ConocoPhillips                            | ConocoPhillips                             | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |    1981475 | NS      | $241482358.25  | 1.97%             |  |  |  | No            | 1                  | On Loan: No      |
| QuidelOrtho Corp                          | QuidelOrtho Corp                           | CUSIP: 219798105<br>LEI: 549300YU8CMO9HF53113 | Long             | EC               | CORP              | US        |     521617 | NS      | $44655631.37   | 0.37%             |  |  |  | No            | 1                  | On Loan: —       |
| Dell Technologies Inc                     | Dell Technologies Inc                      | CUSIP: 24703L202<br>LEI: 549300TJB5YBRUPOG437 | Long             | EC               | CORP              | US        |    4443916 | NS      | $180511867.92  | 1.48%             |  |  |  | No            | 1                  | On Loan: No      |
| Meta Platforms Inc                        | Meta Platforms Inc                         | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |    1961346 | NS      | $292181713.62  | 2.39%             |  |  |  | No            | 1                  | On Loan: No      |
| Fox Corp                                  | Fox Corp                                   | CUSIP: 35137L105<br>LEI: 549300DDU6FDRBIELS05 | Long             | EC               | CORP              | US        |    2931673 | NS      | $99500981.62   | 0.81%             |  |  |  | No            | 1                  | On Loan: —       |
| Gilead Sciences Inc                       | Gilead Sciences Inc                        | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |    2697663 | NS      | $226441832.22  | 1.85%             |  |  |  | No            | 1                  | On Loan: No      |
| HF Sinclair Corp                          | HF Sinclair Corp                           | CUSIP: 403949100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    1743414 | NS      | $99200256.60   | 0.81%             |  |  |  | No            | 1                  | On Loan: No      |
| HP Inc                                    | HP Inc                                     | CUSIP: 40434L105<br>LEI: WHKXQACZ14C5XRO8LW03 | Long             | EC               | CORP              | US        |    8105117 | NS      | $236183109.38  | 1.93%             |  |  |  | No            | 1                  | On Loan: No      |
| Hologic Inc                               | Hologic Inc                                | CUSIP: 436440101<br>LEI: 549300DYP6F5ZJL0LB74 | Long             | EC               | CORP              | US        |    1387473 | NS      | $112898678.01  | 0.92%             |  |  |  | No            | 1                  | On Loan: No      |
| Knight-Swift Transportation Ho            | Knight-Swift Transportation Holdings Inc   | CUSIP: 499049104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     800069 | NS      | $47284077.90   | 0.39%             |  |  |  | No            | 1                  | On Loan: —       |
| Kroger Co/The                             | Kroger Co/The                              | CUSIP: 501044101<br>LEI: 6CPEOKI6OYJ13Q6O7870 | Long             | EC               | CORP              | US        |    3775058 | NS      | $168480838.54  | 1.38%             |  |  |  | No            | 1                  | On Loan: No      |
| Live Nation Entertainment Inc             | Live Nation Entertainment Inc              | CUSIP: 538034109<br>LEI: 5493007B9BM9ZXJINO78 | Long             | EC               | CORP              | US        |    1016721 | NS      | $81835873.29   | 0.67%             |  |  |  | No            | 1                  | On Loan: —       |
| Louisiana-Pacific Corp                    | Louisiana-Pacific Corp                     | CUSIP: 546347105<br>LEI: 549300C7E2UAO5BVRR75 | Long             | EC               | CORP              | US        |     747967 | NS      | $50929073.03   | 0.42%             |  |  |  | No            | 1                  | On Loan: —       |
| Lumen Technologies Inc                    | Lumen Technologies Inc                     | CUSIP: 550241103<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | EC               | CORP              | US        |   23808915 | NS      | $124996803.75  | 1.02%             |  |  |  | No            | 1                  | On Loan: —       |
| U.S. Bank Money Market Deposit Account    | U.S. Bank Money Market Deposit Account     | CUSIP: 8AMMF0A84<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   10478113 | NS      | $10478113.31   | 0.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Valero Energy Corp                        | Valero Energy Corp                         | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               | CORP              | US        |    1895462 | NS      | $265421543.86  | 2.17%             |  |  |  | No            | 1                  | On Loan: No      |
| Olin Corp                                 | Olin Corp                                  | CUSIP: 680665205<br>LEI: 549300GKK294V7W57P06 | Long             | EC               | CORP              | US        |    1657360 | NS      | $107048882.40  | 0.88%             |  |  |  | No            | 1                  | On Loan: No      |
| Ovintiv Inc                               | Ovintiv Inc                                | CUSIP: 69047Q102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    1729406 | NS      | $85138657.38   | 0.70%             |  |  |  | No            | 1                  | On Loan: No      |
| Owens Corning                             | Owens Corning                              | CUSIP: 690742101<br>LEI: JO5M6676RDJIZ2U8X907 | Long             | EC               | CORP              | US        |     556438 | NS      | $53779732.70   | 0.44%             |  |  |  | No            | 1                  | On Loan: No      |
| PDC Energy Inc                            | PDC Energy Inc                             | CUSIP: 69327R101<br>LEI: 5493008W8H2T511J5Y59 | Long             | EC               | CORP              | US        |     431784 | NS      | $29244730.32   | 0.24%             |  |  |  | No            | 1                  | On Loan: No      |
| Pfizer Inc                                | Pfizer Inc                                 | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |    4731001 | NS      | $208921004.16  | 1.71%             |  |  |  | No            | 1                  | On Loan: No      |
| Phillips 66                               | Phillips 66                                | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Long             | EC               | CORP              | US        |    2258346 | NS      | $226444353.42  | 1.85%             |  |  |  | No            | 1                  | On Loan: No      |
| Pioneer Natural Resources Co              | Pioneer Natural Resources Co               | CUSIP: 723787107<br>LEI: FY8JBF7CCL2VE4F1B628 | Long             | EC               | CORP              | US        |    1005798 | NS      | $231685569.30  | 1.89%             |  |  |  | No            | 1                  | On Loan: No      |
| Playtika Holding Corp                     | Playtika Holding Corp                      | CUSIP: 72815L107<br>LEI: 254900E35Z4TKA4UFG64 | Long             | EC               | CORP              | IL        |    2133768 | NS      | $22383226.32   | 0.18%             |  |  |  | No            | 1                  | On Loan: No      |
| DXC Technology Co                         | DXC Technology Co                          | CUSIP: 23355L106<br>LEI: 549300DOVZ3EDJB7O259 | Long             | EC               | CORP              | US        |    2009426 | NS      | $57730808.98   | 0.47%             |  |  |  | No            | 1                  | On Loan: No      |
| Devon Energy Corp                         | Devon Energy Corp                          | CUSIP: 25179M103<br>LEI: 54930042348RKR3ZPN35 | Long             | EC               | CORP              | US        |    2652407 | NS      | $167738218.68  | 1.37%             |  |  |  | No            | 1                  | On Loan: No      |
| Diamondback Energy Inc                    | Diamondback Energy Inc                     | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |    1545832 | NS      | $225876971.84  | 1.85%             |  |  |  | No            | 1                  | On Loan: No      |
| Dow Inc                                   | Dow Inc                                    | CUSIP: 260557103<br>LEI: 5493003S21INSLK2IP73 | Long             | EC               | CORP              | US        |    4696269 | NS      | $278723565.15  | 2.28%             |  |  |  | No            | 1                  | On Loan: —       |
| Dropbox Inc                               | Dropbox Inc                                | CUSIP: 26210C104<br>LEI: 549300JCDF7UAR6TJR51 | Long             | EC               | CORP              | US        |    1764373 | NS      | $40986384.79   | 0.34%             |  |  |  | No            | 1                  | On Loan: No      |
| EOG Resources Inc                         | EOG Resources Inc                          | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |    1742686 | NS      | $230470223.50  | 1.88%             |  |  |  | No            | 1                  | On Loan: No      |
| EQT Corp                                  | EQT Corp                                   | CUSIP: 26884L109<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | EC               | CORP              | US        |    2863640 | NS      | $93555118.80   | 0.76%             |  |  |  | No            | 1                  | On Loan: —       |
| Eagle Materials Inc                       | Eagle Materials Inc                        | CUSIP: 26969P108<br>LEI: 529900KRXRGXL61SG039 | Long             | EC               | CORP              | US        |     179808 | NS      | $26266352.64   | 0.21%             |  |  |  | No            | 1                  | On Loan: No      |
| Euronet Worldwide Inc                     | Euronet Worldwide Inc                      | CUSIP: 298736109<br>LEI: YG3575C4DSHJPA5KET68 | Long             | EC               | CORP              | US        |     248055 | NS      | $27950837.40   | 0.23%             |  |  |  | No            | 1                  | On Loan: —       |
| Exelixis Inc                              | Exelixis Inc                               | CUSIP: 30161Q104<br>LEI: 254900PJQB59O2O95R37 | Long             | EC               | CORP              | US        |    1048758 | NS      | $18479115.96   | 0.15%             |  |  |  | No            | 1                  | On Loan: No      |
| Expedia Group Inc                         | Expedia Group Inc                          | CUSIP: 30212P303<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    1668279 | NS      | $190684289.70  | 1.56%             |  |  |  | No            | 1                  | On Loan: No      |
| Expeditors International of Wa            | Expeditors International of Washington Inc | CUSIP: 302130109<br>LEI: 984500B055A804AB6E40 | Long             | EC               | CORP              | US        |     858578 | NS      | $92855210.70   | 0.76%             |  |  |  | No            | 1                  | On Loan: —       |
| Exxon Mobil Corp                          | Exxon Mobil Corp                           | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |    2192244 | NS      | $254322226.44  | 2.08%             |  |  |  | No            | 1                  | On Loan: No      |
| Huntsman Corp                             | Huntsman Corp                              | CUSIP: 447011107<br>LEI: 5299000V56320A7RIQ67 | Long             | EC               | CORP              | US        |    2089246 | NS      | $66208205.74   | 0.54%             |  |  |  | No            | 1                  | On Loan: —       |
| Landstar System Inc                       | Landstar System Inc                        | CUSIP: 515098101<br>LEI: 254900CUQXQRL09MEI52 | Long             | EC               | CORP              | US        |     144554 | NS      | $24983267.82   | 0.20%             |  |  |  | No            | 1                  | On Loan: —       |
| Lennar Corp                               | Lennar Corp                                | CUSIP: 526057104<br>LEI: 529900G61XVRLX5TJX09 | Long             | EC               | CORP              | US        |    1275392 | NS      | $130600140.80  | 1.07%             |  |  |  | No            | 1                  | On Loan: —       |
| Lumentum Holdings Inc                     | Lumentum Holdings Inc                      | CUSIP: 55024U109<br>LEI: 549300JLWRRC38DWEF52 | Long             | EC               | CORP              | US        |     326299 | NS      | $19636673.82   | 0.16%             |  |  |  | No            | 1                  | On Loan: —       |
| MKS Instruments Inc                       | MKS Instruments Inc                        | CUSIP: 55306N104<br>LEI: 549300KEQATBHAGVF505 | Long             | EC               | CORP              | US        |     232007 | NS      | $23738956.24   | 0.19%             |  |  |  | No            | 1                  | On Loan: —       |
| Macy's Inc                                | Macy's Inc                                 | CUSIP: 55616P104<br>LEI: 529900NZQ81TIOW3CW52 | Long             | EC               | CORP              | US        |    2634949 | NS      | $62263844.87   | 0.51%             |  |  |  | No            | 1                  | On Loan: —       |
| ManpowerGroup Inc                         | ManpowerGroup Inc                          | CUSIP: 56418H100<br>LEI: ERO1WSFOSR0JJ6CRQ987 | Long             | EC               | CORP              | US        |     283792 | NS      | $24735310.72   | 0.20%             |  |  |  | No            | 1                  | On Loan: No      |
| Marathon Oil Corp                         | Marathon Oil Corp                          | CUSIP: 565849106<br>LEI: 1FRVQX2CRLGC1XLP5727 | Long             | EC               | CORP              | US        |    6992227 | NS      | $192076475.69  | 1.57%             |  |  |  | No            | 1                  | On Loan: No      |
| Marathon Petroleum Corp                   | Marathon Petroleum Corp                    | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |    2037279 | NS      | $261831097.08  | 2.14%             |  |  |  | No            | 1                  | On Loan: No      |
| Maravai LifeSciences Holdings             | Maravai LifeSciences Holdings Inc          | CUSIP: 56600D107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    1826087 | NS      | $26770435.42   | 0.22%             |  |  |  | No            | 1                  | On Loan: No      |
| McKesson Corp                             | McKesson Corp                              | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |     589655 | NS      | $223290555.40  | 1.83%             |  |  |  | No            | 1                  | On Loan: —       |
| Moderna Inc                               | Moderna Inc                                | CUSIP: 60770K107<br>LEI: 549300EI6OKH5K5Q2G38 | Long             | EC               | CORP              | US        |    1320675 | NS      | $232518040.50  | 1.90%             |  |  |  | No            | 1                  | On Loan: No      |
| Mosaic Co/The                             | Mosaic Co/The                              | CUSIP: 61945C103<br>LEI: 2YD5STGSJNMUB7H76907 | Long             | EC               | CORP              | US        |    2305545 | NS      | $114216699.30  | 0.93%             |  |  |  | No            | 1                  | On Loan: —       |
| NVR Inc                                   | NVR Inc                                    | CUSIP: 62944T105<br>LEI: 529900RWXR4JI3JYTV70 | Long             | EC               | CORP              | US        |      14577 | NS      | $76820790.00   | 0.63%             |  |  |  | No            | 1                  | On Loan: No      |
| Nexstar Media Group Inc                   | Nexstar Media Group Inc                    | CUSIP: 65336K103<br>LEI: 52990083ZRR5UT591988 | Long             | EC               | CORP              | US        |     397878 | NS      | $81473478.06   | 0.67%             |  |  |  | No            | 1                  | On Loan: —       |
| Nucor Corp                                | Nucor Corp                                 | CUSIP: 670346105<br>LEI: 549300GGJCRSI2TIEJ46 | Long             | EC               | CORP              | US        |    1561785 | NS      | $263972900.70  | 2.16%             |  |  |  | No            | 1                  | On Loan: —       |
| Occidental Petroleum Corp                 | Occidental Petroleum Corp                  | CUSIP: 674599105<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | EC               | CORP              | US        |    3530997 | NS      | $228773295.63  | 1.87%             |  |  |  | No            | 1                  | On Loan: —       |
| PayPal Holdings Inc                       | PayPal Holdings Inc                        | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Long             | EC               | CORP              | US        |    3245786 | NS      | $264499101.14  | 2.16%             |  |  |  | No            | 1                  | On Loan: —       |
| Premier Inc                               | Premier Inc                                | CUSIP: 74051N102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     613205 | NS      | $20456518.80   | 0.17%             |  |  |  | No            | 1                  | On Loan: —       |
| Pure Storage Inc                          | Pure Storage Inc                           | CUSIP: 74624M102<br>LEI: 549300NPDB0BZTK3WO90 | Long             | EC               | CORP              | US        |    1039496 | NS      | $30083014.24   | 0.25%             |  |  |  | No            | 1                  | On Loan: No      |
| Qorvo Inc                                 | Qorvo Inc                                  | CUSIP: 74736K101<br>LEI: 254900YAUJV2EUEVBR11 | Long             | EC               | CORP              | US        |     443637 | NS      | $48205596.42   | 0.39%             |  |  |  | No            | 1                  | On Loan: No      |
| Quest Diagnostics Inc                     | Quest Diagnostics Inc                      | CUSIP: 74834L100<br>LEI: 8MCWUBXQ0WE04KMXBX50 | Long             | EC               | CORP              | US        |     516766 | NS      | $76729415.68   | 0.63%             |  |  |  | No            | 1                  | On Loan: No      |
| Range Resources Corp                      | Range Resources Corp                       | CUSIP: 75281A109<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | EC               | CORP              | US        |    2191348 | NS      | $54827526.96   | 0.45%             |  |  |  | No            | 1                  | On Loan: —       |
| Reliance Steel & Aluminum Co              | Reliance Steel & Aluminum Co               | CUSIP: 759509102<br>LEI: 549300E287ZOFT3C5Z56 | Long             | EC               | CORP              | US        |     347443 | NS      | $79025910.35   | 0.65%             |  |  |  | No            | 1                  | On Loan: No      |
| Robert Half International Inc             | Robert Half International Inc              | CUSIP: 770323103<br>LEI: 529900VPCUY9H3HLIC08 | Long             | EC               | CORP              | US        |     373981 | NS      | $31399444.76   | 0.26%             |  |  |  | No            | 1                  | On Loan: —       |
| Southwestern Energy Co                    | Southwestern Energy Co                     | CUSIP: 845467109<br>LEI: EFWMP121W54QV9MGOP87 | Long             | EC               | CORP              | US        |    6728767 | NS      | $37142793.84   | 0.30%             |  |  |  | No            | 1                  | On Loan: —       |
| Steel Dynamics Inc                        | Steel Dynamics Inc                         | CUSIP: 858119100<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | EC               | CORP              | US        |    1576392 | NS      | $190175930.88  | 1.55%             |  |  |  | No            | 1                  | On Loan: —       |
| Teradata Corp                             | Teradata Corp                              | CUSIP: 88076W103<br>LEI: 549300JU9SOUHV4U4R71 | Long             | EC               | CORP              | US        |     561878 | NS      | $19598304.64   | 0.16%             |  |  |  | No            | 1                  | On Loan: No      |
| Thor Industries Inc                       | Thor Industries Inc                        | CUSIP: 885160101<br>LEI: 254900XZO1228PDSG060 | Long             | EC               | CORP              | US        |     439013 | NS      | $41851109.29   | 0.34%             |  |  |  | No            | 1                  | On Loan: —       |
| TripAdvisor Inc                           | TripAdvisor Inc                            | CUSIP: 896945201<br>LEI: 549300XVG45PT5BART17 | Long             | EC               | CORP              | US        |    1176704 | NS      | $27417203.20   | 0.22%             |  |  |  | No            | 1                  | On Loan: —       |
| Under Armour Inc                          | Under Armour Inc                           | CUSIP: 904311107<br>LEI: 549300D4549QKWETZ406 | Long             | EC               | CORP              | US        |    4220527 | NS      | $52292329.53   | 0.43%             |  |  |  | No            | 1                  | On Loan: —       |
| United States Steel Corp                  | United States Steel Corp                   | CUSIP: 912909108<br>LEI: JNLUVFYJT1OZSIQ24U47 | Long             | EC               | CORP              | US        |    5291308 | NS      | $150749364.92  | 1.23%             |  |  |  | No            | 1                  | On Loan: —       |
| Viatris Inc                               | Viatris Inc                                | CUSIP: 92556V106<br>LEI: 254900ZZTSW7NL773X71 | Long             | EC               | CORP              | US        |   13478060 | NS      | $163893209.60  | 1.34%             |  |  |  | No            | 1                  | On Loan: No      |
| Westlake Corp                             | Westlake Corp                              | CUSIP: 960413102<br>LEI: GOXNEVUM0LL78B1OS344 | Long             | EC               | CORP              | US        |    1105420 | NS      | $135690305.00  | 1.11%             |  |  |  | No            | 1                  | On Loan: —       |
| WEX Inc                                   | WEX Inc                                    | CUSIP: 96208T104<br>LEI: T9M5IGROL1TL1G5OV478 | Long             | EC               | CORP              | US        |     158392 | NS      | $29297768.24   | 0.24%             |  |  |  | No            | 1                  | On Loan: No      |
| Weyerhaeuser Co                           | Weyerhaeuser Co                            | CUSIP: 962166104<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | EC               | CORP              | US        |    3947893 | NS      | $135925955.99  | 1.11%             |  |  |  | No            | 1                  | On Loan: —       |
| Williams-Sonoma Inc                       | Williams-Sonoma Inc                        | CUSIP: 969904101<br>LEI: 549300IARG6YWVTZ1I92 | Long             | EC               | CORP              | US        |     496284 | NS      | $66968562.96   | 0.55%             |  |  |  | No            | 1                  | On Loan: —       |
| Zillow Group Inc                          | Zillow Group Inc                           | CUSIP: 98954M200<br>LEI: 2549002XEELQDIR6FU05 | Long             | EC               | CORP              | US        |    5617781 | NS      | $248362098.01  | 2.03%             |  |  |  | No            | 1                  | On Loan: —       |
| Zoom Video Communications Inc             | Zoom Video Communications Inc              | CUSIP: 98980L101<br>LEI: 549300T9GCHU0ODOM055 | Long             | EC               | CORP              | US        |     857499 | NS      | $64312425.00   | 0.53%             |  |  |  | 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        | 1032253701 | NS      | $1032253701.08 | 8.44%             |  |  |  | No            | N/A                | On Loan: No      |
| Jazz Pharmaceuticals PLC                  | Jazz Pharmaceuticals PLC                   | CUSIP: N/A<br>LEI: 635400GAUMJCLEZRRV50       | Long             | EC               | CORP              | IE        |     360518 | NS      | $56478749.88   | 0.46%             |  |  |  | No            | 1                  | On Loan: No      |
| LyondellBasell Industries NV              | LyondellBasell Industries NV               | CUSIP: N/A<br>LEI: BN6WCCZ8OVP3ITUUVN49       | Long             | EC               | CORP              | US        |    2852104 | NS      | $275769935.76  | 2.25%             |  |  |  | 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