Pacer Benchmark Industrial Real Estate SCTR ETF
|
||||||||
Schedule of Investments
|
||||||||
July 31, 2022 (Unaudited)
|
||||||||
Shares
|
Value
|
|||||||
COMMON STOCKS - 9.7%
|
||||||||
Real Estate-Warehouse/Industrial - 9.7%
|
||||||||
Dream Industrial Real Estate Investment Trust
|
1,248,040
|
$
|
12,299,610
|
|||||
Indus Realty Trust, Inc.
|
61,817
|
3,775,782
|
||||||
Summit Industrial Income REIT
|
921,799
|
13,410,734
|
||||||
29,486,126
|
||||||||
TOTAL COMMON STOCKS (Cost $36,879,566)
|
29,486,126
|
|||||||
REAL ESTATE INVESTMENT TRUSTS - 90.2%
|
Shares
|
Value
|
||||||
Diversified - 24.1%
|
||||||||
Duke Realty Corp.
|
885,284
|
55,383,367
|
||||||
Lexington Realty Trust (a)
|
1,214,283
|
13,320,684
|
||||||
One Liberty Properties, Inc.
|
155,772
|
4,322,673
|
||||||
73,026,724
|
||||||||
Storage - 10.5%
|
||||||||
Life Storage, Inc.
|
252,036
|
31,728,812
|
||||||
31,728,812
|
||||||||
Warehouse/Industrial - 55.6%
|
||||||||
Americold Realty Trust (a)
|
506,357
|
16,583,192
|
||||||
EastGroup Properties, Inc.
|
86,918
|
14,822,996
|
||||||
First Industrial Realty Trust, Inc.
|
263,830
|
13,705,968
|
||||||
Granite Real Estate Investment Trust
|
194,661
|
12,279,658
|
||||||
Industrial Logistics Properties Trust
|
476,576
|
4,780,057
|
||||||
Innovative Industrial Properties, Inc. (a)
|
105,414
|
10,162,964
|
||||||
Plymouth Industrial REIT, Inc. (a)
|
250,580
|
4,826,171
|
||||||
Prologis, Inc. (a)
|
366,896
|
48,635,734
|
||||||
Rexford Industrial Realty, Inc.
|
219,846
|
14,380,127
|
||||||
STAG Industrial, Inc. (a)
|
421,018
|
13,800,970
|
||||||
Terreno Realty Corp.
|
230,929
|
14,467,702
|
||||||
168,445,539
|
||||||||
TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $284,082,868)
|
273,201,075
|
|||||||
SHORT-TERM INVESTMENTS - 0.1%
|
||||||||
Money Market Deposit Accounts- 0.1%
|
Principal
Amount
|
|||||||
U.S. Bank Money Market Deposit Account, 1.600% (b)
|
$
|
447,730
|
447,730
|
|||||
TOTAL SHORT-TERM INVESTMENTS (Cost $447,730)
|
447,730
|
|||||||
INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING- 8.9%
|
Shares
|
|||||||
Mount Vernon Liquid Assets Portfolio, LLC, 2.020% (b)
|
27,058,114
|
27,058,114
|
||||||
TOTAL INVESTMENTS PURCAHSED WITH PROCEEDS FROM SECURITIES LENDING (Cost $27,058,114)
|
27,058,114
|
|||||||
Total Investments (Cost $348,468,278) - 109.0%
|
330,193,045
|
|||||||
Liabilities in Excess of Other Assets - (9.0)%
|
(27,242,026
|
)
|
||||||
TOTAL NET ASSETS - 100.0%
|
$
|
302,951,019
|
Percentages are stated as a percent of net assets.
|
||||
(a)
|
All or a portion of this security is on loan as of July 31, 2022. The total value of securities on loan is $26,639,183 or 8.8% of net
assets.
|
|||
(b)
|
The rate shown is as of July 31, 2022.
|
|||
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 July 31, 2022 (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.
|
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 July 31, 2022:
|
Description^
|
Level 1
|
Level 2
|
Level 3
|
Investments
Measured at Net
Asset Value
|
Total
|
Common Stocks
|
$ 29,486,126
|
$ -
|
$ -
|
$ -
|
$ 29,486,126
|
Real Estate Investment Trusts
|
273,201,075
|
-
|
-
|
-
|
273,201,075
|
Short-Term Investments
|
447,730
|
-
|
-
|
-
|
447,730
|
Investments Purchased with Proceeds from Securities Lending
|
-
|
-
|
-
|
27,058,114
|
27,058,114
|
Total Investments in Securities
|
$ 303,134,931
|
$ -
|
$ -
|
$ 27,058,114
|
$ 330,193,045
|
^ See the Schedules of Investments for further disaggregation of investment categories.
|