Pacer Funds

 

TABLE OF CONTENTS

 

 

Page

Portfolio Allocation

1

Performance Summary

4

Expense Example

19

Schedules of Investments

21

Statements of Assets & Liabilities

36

Statements of Operations

40

Statements of Changes in Net Assets

46

Financial Highlights

54

Notes to Financial Statements

69

Additional Information

88

 

 

Pacer Funds

PORTFOLIO ALLOCATION (Unaudited)
As of April 30, 2022

 

Pacer American Energy Independence ETF

 

Sector(a)

 

Percentage of
Net Assets

 

Transportation and Warehousing

    52.9 %

Utilities

    20.2 %

Mining, Quarrying, and Oil and Gas Extraction

    9.0 %

Wholesale Trade

    7.5 %

Professional Scientific and Technical Services

    7.3 %

Real Estate and Rental and Leasing

    1.9 %

Retail Trade

    0.6 %

Short-Term Investments

    0.1 %

Investments Purchased With Proceeds From Securities Lending

    13.0 %

Liabilities in Excess of Other Assets

    -12.5 %
      100.0 %

 

(a)

The Fund may classify a company in a different category than the American Energy Independence Index.

 

Pacer Swan SOS Conservative (January) ETF

 

Sector

 

Percentage of
Net Assets

 

Purchased Options

    102.0 %

Short-Term Investments

    0.9 %

Liabilities in Excess of Other Assets

    -2.9 %
      100.0 %

 

Pacer Swan SOS Moderate (January) ETF

 

Sector

 

Percentage of
Net Assets

 

Purchased Options

    105.6 %

Short-Term Investments

    0.6 %

Liabilities in Excess of Other Assets

    -6.2 %
      100.0 %

 

Pacer Swan SOS Flex (January) ETF

 

Sector

 

Percentage of
Net Assets

 

Purchased Options

    107.9 %

Short-Term Investments

    0.9 %

Liabilities in Excess of Other Assets

    -8.8 %
      100.0 %

 

Pacer Swan SOS Fund of Funds ETF

 

Sector

 

Percentage of
Net Assets

 

Affiliated Exchange-Traded Funds

    99.1 %

Short-Term Investments

    0.9 %

Liabilities in Excess of Other Assets

    0.0 %(a)
      100.0 %

 

(a)

Less than 0.05%.

 

1

 

 

Pacer Funds

PORTFOLIO ALLOCATION (Unaudited)
As of April 30, 2022 (Continued)

 

Pacer Swan SOS Conservative (April) ETF

 

Sector

 

Percentage of
Net Assets

 

Purchased Options

    103.1 %

Short-Term Investments

    1.0 %

Liabilities in Excess of Other Assets

    -4.1 %
      100.0 %

 

Pacer Swan SOS Moderate (April) ETF

 

Sector

 

Percentage of
Net Assets

 

Purchased Options

    106.3 %

Short-Term Investments

    1.1 %

Liabilities in Excess of Other Assets

    -7.4 %
      100.0 %

 

Pacer Swan SOS Flex (April) ETF

 

Sector

 

Percentage of
Net Assets

 

Purchased Options

    109.3 %

Short-Term Investments

    1.1 %

Liabilities in Excess of Other Assets

    -10.4 %
      100.0 %

 

Pacer Swan SOS Conservative (July) ETF

 

Sector

 

Percentage of
Net Assets

 

Purchased Options

    100.3 %

Short-Term Investments

    0.4 %

Liabilities in Excess of Other Assets

    -0.7 %
      100.0 %

 

Pacer Swan SOS Moderate (July) ETF

 

Sector

 

Percentage of
Net Assets

 

Purchased Options

    101.2 %

Short-Term Investments

    0.4 %

Liabilities in Excess of Other Assets

    -1.6 %
      100.0 %

 

Pacer Swan SOS Flex (July) ETF

 

Sector

 

Percentage of
Net Assets

 

Purchased Options

    101.3 %

Short-Term Investments

    0.5 %

Liabilities in Excess of Other Assets

    -1.8 %
      100.0 %

 

2

 

 

Pacer Funds

PORTFOLIO ALLOCATION (Unaudited)
As of April 30, 2022 (Continued)

 

Pacer Swan SOS Conservative (October) ETF

 

Sector

 

Percentage of
Net Assets

 

Purchased Options

    102.0 %

Short-Term Investments

    0.5 %

Liabilities in Excess of Other Assets

    -2.5 %
      100.0 %

 

Pacer Swan SOS Moderate (October) ETF

 

Sector

 

Percentage of
Net Assets

 

Purchased Options

    103.7 %

Short-Term Investments

    0.4 %

Liabilities in Excess of Other Assets

    -4.1 %
      100.0 %

 

Pacer Swan SOS Flex (October) ETF

 

Sector

 

Percentage of
Net Assets

 

Purchased Options

    104.3 %

Short-Term Investments

    0.5 %

Liabilities in Excess of Other Assets

    -4.8 %
      100.0 %

 

Pacer BlueStar Digital Entertainment ETF

 

Sector(a)

 

Percentage of
Net Assets

 

Consumer, Cyclical

    50.5 %

Technology

    36.5 %

Communications

    12.6 %

Short-Term Investments

    0.4 %

Liabilities in Excess of Other Assets

    0.0 %(b)

Total

    100.0 %

 

(a)

The Fund may classify a company in a different category than the BlueStar Global Online Gambling, Video Gaming, and eSports Index.

(b)

Less than 0.05%.

 

3

 

 

Pacer American Energy Independence ETF

PERFORMANCE SUMMARY
(Unaudited)

 

Growth of $10,000

 

This chart illustrates the performance of a hypothetical $10,000 investment made on December 12, 2017, and is not intended to imply any future performance. The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The chart assumes reinvestment of capital gains and dividends.

 

The American Energy Independence Total Return (the “Index”) uses a proprietary, rules-based methodology to measure the performance of a portfolio of U.S. and Canadian exchange-listed equity securities of companies that generate a majority of their cash flow from certain qualifying “midstream” energy infrastructure activities. The companies in the Index are expected to benefit from regulatory policies favoring and industry trends toward American energy independence (i.e., a reduced or eliminated need for the United States to import fuels, such as coal, crude oil, or natural gas). Midstream energy infrastructure refers to the processing, storage, transportation, and distribution of crude oil, natural gas, refined products, and their related products, as well as the transmission or storage of renewable energy. The following activity segments are considered qualifying midstream energy infrastructure activities: gathering & processing, compression, fractionation, logistics, midstream services, pipeline transportation, storage and terminaling of oil, gas, natural gas liquids, and refined products, as well as operating liquid natural gas facilities. The following activity segments are not qualifying activities: refining, shipping, exploration, production, retail distribution, or oil services. The Index may include small-, mid-, and large-capitalization companies.

 

The S&P 500 Index consists of approximately 500 leading U.S.-listed companies representing approximately 8% of the U.S. equity market capitalization.

 

Annualized Returns(1)
(For the periods ended April 30, 2022)

 

 

Six Months

One Year

Three Year

Since Inception(2)

Pacer American Energy Independence ETF - NAV

12.86%

31.32%

12.06%

9.19%

Pacer American Energy Independence ETF - Market

13.26%

30.95%

12.12%

9.25%

American Energy Independence Total Return Index (3)

13.45%

32.81%

13.50%

10.53%

S&P 500 Index (3)

-9.65%

0.21%

13.85%

12.51%

 

(1)

The performance data quoted is historical. Past performance is no guarantee of future results. Current performance may be higher or lower than the performance data quoted. The principal value and investment return of an investment will fluctuate so that investor’s shares, when redeemed, may be worth more or less than the original cost. The returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on redemptions of Fund shares. The total annual operating expenses as stated in the fee table to the Fund’s prospectus dated February 28, 2022, is 0.75%. For performance information current to the most recent month-end, please call 1-877-337-0500.

(2)

Inception date is December 12, 2017. The Fund is the sucessor to the investment performance of the American Energy Independence ETF (the “Predecessor USAI”) as a result of the reorganization of the Predecessor USAI Fund into the Fund on December 16, 2019. Accordingly, the performance information shown in the chart and table above for periods prior to December 16, 2019 is that of the Predecessor USAI Fund’s Shares for the Fund. The Predecessor USAI Fund was advised by SL Advisors, LLC and sub-advised by Penserra Capital Management LLC and had substantially the same investment objectives, policies, and strategies as the Fund.

(3)

Indexes are unmanaged statistical composites and their returns do not include fees an investor would pay to purchase the securities they represent. Such costs would lower performance. It is not possible to invest directly in an index.

 

4

 

 

Pacer Swan SOS Conservative (January) ETF

PERFORMANCE SUMMARY
(Unaudited)

 

Growth of $10,000

 

This chart illustrates the performance of a hypothetical $10,000 investment made on December 22, 2020, and is not intended to imply any future performance. The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The chart assumes reinvestment of capital gains and dividends.

 

The Pacer Swan SOS Conservative (January) ETF (the “Fund”) seeks to provide investors with returns that, before fees and expenses of the Fund, match those of the SPDR® S&P 500® ETF Trust (the “Underlying ETF”) up to a predetermined upside cap of 8.60% (before fees and expenses of the Fund) and 7.85% (after fees and expenses of the Fund), while providing a buffer against Underlying ETF losses between 5% and 30% over the period from December 20, 2021 to December 31, 2022.

 

The S&P 500 Index consists of approximately 500 leading U.S.-listed companies representing approximately 8% of the U.S. equity market capitalization.

 

Annualized Returns (1)
(For the periods ended April 30, 2022)

 

 

Six Months

One Year

Since Inception(2)

Pacer Swan SOS Conservative (January) ETF - NAV

-4.62%

-1.93%

2.17%

Pacer Swan SOS Conservative (January) ETF - Market

-4.69%

-1.92%

2.32%

S&P 500 Index (3)

-9.65%

0.21%

10.31%

 

(1)

The performance data quoted is historical. Past performance is no guarantee of future results. Current performance may be higher or lower than the performance data quoted. The principal value and investment return of an investment will fluctuate so that investor’s shares, when redeemed, may be worth more or less than the original cost. The returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on redemptions of Fund shares. The total annual operating expenses as stated in the fee table to the Fund’s prospectus dated February 28, 2022 as supplemented April 1, 2022, is 0.75%. For performance information current to the most recent month- end, please call 1-877-337-0500.

(2)

Inception date is December 22, 2020.

(3)

Indexes are unmanaged statistical composites and their returns do not include fees an investor would pay to purchase the securities they represent. Such costs would lower performance. It is not possible to invest directly in an index.

 

5

 

 

Pacer Swan SOS Moderate (January) ETF

PERFORMANCE SUMMARY
(Unaudited)

 

Growth of $10,000

 

This chart illustrates the performance of a hypothetical $10,000 investment made on December 22, 2020, and is not intended to imply any future performance. The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The chart assumes reinvestment of capital gains and dividends.

 

The Pacer Swan SOS Moderate (January) ETF (the “Fund”) seeks to provide investors with returns that, before fees and expenses of the Fund, match those of the SPDR® S&P 500® ETF Trust (“the Underlying ETF”) up to a predetermined upside cap of 10.30% (before fees and expenses of the Fund) and 9.55% (after fees and expenses of the Fund), while providing a buffer against the first 15% of Underlying ETF losses, over the period from December 20, 2021 to December 31, 2022.

 

The S&P 500 Index consists of approximately 500 leading U.S.-listed companies representing approximately 8% of the U.S. equity market capitalization.

 

Annualized Returns (1)
(For the periods ended April 30, 2022)

 

 

Six Months

One Year

Since Inception(2)

Pacer Swan SOS Moderate (January) ETF - NAV

-5.08%

-1.78%

3.38%

Pacer Swan SOS Moderate (January) ETF - Market

-5.42%

-1.95%

3.35%

S&P 500 Index (3)

-9.65%

0.21%

10.31%

 

(1)

The performance data quoted is historical. Past performance is no guarantee of future results. Current performance may be higher or lower than the performance data quoted. The principal value and investment return of an investment will fluctuate so that investor’s shares, when redeemed, may be worth more or less than the original cost. The returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on redemptions of Fund shares. The total annual operating expenses as stated in the fee table to the Fund’s prospectus dated February 28, 2022 as supplemented April 1, 2022, is 0.75%. For performance information current to the most recent month- end, please call 1-877-337-0500.

(2)

Inception date is December 22, 2020.

(3)

Indexes are unmanaged statistical composites and their returns do not include fees an investor would pay to purchase the securities they represent. Such costs would lower performance. It is not possible to invest directly in an index.

 

6

 

 

Pacer Swan SOS Flex (January) ETF

PERFORMANCE SUMMARY
(Unaudited)

 

Growth of $10,000

 

This chart illustrates the performance of a hypothetical $10,000 investment made on December 22, 2020, and is not intended to imply any future performance. The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The chart assumes reinvestment of capital gains and dividends.

 

The Pacer Swan SOS Flex (January) ETF (the “Fund”) seeks to provide investors with returns that match those of the SPDR® S&P 500® ETF Trust (the “Underlying ETF”) up to a predetermined upside cap of 14.70% (before fees and expenses of the Fund) and 13.95% (after fees and expenses of the Fund), while providing a buffer against the first 20% of Underlying ETF losses with the benefits of such buffer declining from 20% to 0% for Underlying ETF losses between 20% and 40%, over the period from December 20, 2021 to December 31, 2022.

 

The S&P 500 Index consists of approximately 500 leading U.S.-listed companies representing approximately 8% of the U.S. equity market capitalization.

 

Annualized Returns (1)
(For the periods ended April 30, 2022)

 

 

Six Months

One Year

Since Inception(2)

Pacer Swan SOS Flex (January) ETF - NAV

-5.55%

-0.13%

6.87%

Pacer Swan SOS Flex (January) ETF - Market

-5.98%

-0.23%

6.81%

S&P 500 Index (3)

-9.65%

0.21%

10.31%

 

(1)

The performance data quoted is historical. Past performance is no guarantee of future results. Current performance may be higher or lower than the performance data quoted. The principal value and investment return of an investment will fluctuate so that investor’s shares, when redeemed, may be worth more or less than the original cost. The returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on redemptions of Fund shares. The total annual operating expenses as stated in the fee table to the Fund’s prospectus dated February 28, 2022 as supplemented April 1, 2022, is 0.75%. For performance information current to the most recent month- end, please call 1-877-337-0500.

(2)

Inception date is December 22, 2020.

(3)

Indexes are unmanaged statistical composites and their returns do not include fees an investor would pay to purchase the securities they represent. Such costs would lower performance. It is not possible to invest directly in an index.

 

7

 

 

Pacer Swan SOS Fund of Funds ETF

PERFORMANCE SUMMARY
(Unaudited)

 

Growth of $10,000

 

This chart illustrates the performance of a hypothetical $10,000 investment made on December 29, 2020, and is not intended to imply any future performance. The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The chart assumes reinvestment of capital gains and dividends.

 

The Pacer Swan SOS Fund of Funds ETF (the “Fund”) seeks capital appreciation with downside protection.

 

The S&P 500 Index consists of approximately 500 leading U.S.-listed companies representing approximately 8% of the U.S. equity market capitalization.

 

Annualized Returns (1)
(For the periods ended April 30, 2022)

 

 

Six Months

One Year

Since Inception(2)

Pacer Swan SOS Fund of Funds ETF - NAV

-4.67%

-0.48%

4.34%

Pacer Swan SOS Fund of Funds ETF - Market

-4.70%

-0.59%

4.41%

S&P 500 Index (3)

-9.65%

0.21%

9.57%

 

(1)

The performance data quoted is historical. Past performance is no guarantee of future results. Current performance may be higher or lower than the performance data quoted. The principal value and investment return of an investment will fluctuate so that investor’s shares, when redeemed, may be worth more or less than the original cost. The returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on redemptions of Fund shares. The total annual operating expenses as stated in the fee table to the Fund’s prospectus dated February 28, 2022 as supplemented April 1, 2022, is 0.93%. For performance information current to the most recent month- end, please call 1-877-337-0500.

(2)

Inception date is December 29, 2020.

(3)

Indexes are unmanaged statistical composites and their returns do not include fees an investor would pay to purchase the securities they represent. Such costs would lower performance. It is not possible to invest directly in an index.

 

8

 

 

Pacer Swan SOS Conservative (April) ETF

PERFORMANCE SUMMARY
(Unaudited)

 

Growth of $10,000

 

This chart illustrates the performance of a hypothetical $10,000 investment made on March 31, 2021, and is not intended to imply any future performance. The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The chart assumes reinvestment of capital gains and dividends.

 

The Pacer Swan SOS Conservative (April) ETF (the “Fund”) seeks to provide investors with returns that, before fees and expenses of the Fund, match those of the SPDR® S&P 500® ETF Trust (the “Underlying ETF”) up to a predetermined upside cap of 9.10% (before fees and expenses of the Fund) and 8.35% (after fees and expenses of the Fund), while providing a buffer against Underlying ETF losses between 5% and 30% over the period from April 1, 2021 to March 31, 2022.

 

The S&P 500 Index consists of approximately 500 leading U.S.-listed companies representing approximately 8% of the U.S. equity market capitalization.

 

Annualized Returns (1)
(For the periods ended April 30, 2022)

 

 

Six Months

One Year

Since Inception(2)

Pacer Swan SOS Conservative (April) ETF - NAV

-2.36%

1.09%

2.73%

Pacer Swan SOS Conservative (April) ETF - Market

-2.34%

1.13%

2.87%

S&P 500 Index (3)

-9.65%

0.21%

5.13%

 

(1)

The performance data quoted is historical. Past performance is no guarantee of future results. Current performance may be higher or lower than the performance data quoted. The principal value and investment return of an investment will fluctuate so that investor’s shares, when redeemed, may be worth more or less than the original cost. The returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on redemptions of Fund shares. The total annual operating expenses as stated in the fee table to the Fund’s prospectus dated February 28, 2022 as supplemented April 1, 2022, is 0.75%. For performance information current to the most recent month- end, please call 1-877-337-0500.

(2)

Inception date is March 31, 2021.

(3)

Indexes are unmanaged statistical composites and their returns do not include fees an investor would pay to purchase the securities they represent. Such costs would lower performance. It is not possible to invest directly in an index.

 

 

9

 

 

Pacer Swan SOS Moderate (April) ETF

PERFORMANCE SUMMARY
(Unaudited)

 

Growth of $10,000

 

This chart illustrates the performance of a hypothetical $10,000 investment made on March 31, 2021, and is not intended to imply any future performance. The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The chart assumes reinvestment of capital gains and dividends.

 

The Pacer Swan SOS Moderate (April) ETF (the “Fund”) seeks to provide investors with returns that, before fees and expenses of the Fund, match those of the SPDR® S&P 500® ETF Trust (“the Underlying ETF”) up to a predetermined upside cap of 10.48% (before fees and expenses of the Fund) and 9.73% (after fees and expenses of the Fund), while providing a buffer against the first 15% of Underlying ETF losses, over the period from April 1, 2021 to March 31, 2022.

 

The S&P 500 Index consists of approximately 500 leading U.S.-listed companies representing approximately 8% of the U.S. equity market capitalization.

 

Annualized Returns (1)
(For the periods ended April 30, 2022)

 

 

Six Months

One Year

Since Inception(2)

Pacer Swan SOS Moderate (April) ETF - NAV

-2.83%

1.41%

3.37%

Pacer Swan SOS Moderate (April) ETF - Market

-2.83%

1.51%

3.44%

S&P 500 Index (3)

-9.65%

0.21%

5.13%

 

(1)

The performance data quoted is historical. Past performance is no guarantee of future results. Current performance may be higher or lower than the performance data quoted. The principal value and investment return of an investment will fluctuate so that investor’s shares, when redeemed, may be worth more or less than the original cost. The returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on redemptions of Fund shares. The total annual operating expenses as stated in the fee table to the Fund’s prospectus dated February 28, 2022 as supplemented April 1, 2022, is 0.75%. For performance information current to the most recent month- end, please call 1-877-337-0500.

(2)

Inception date is March 31, 2021.

(3)

Indexes are unmanaged statistical composites and their returns do not include fees an investor would pay to purchase the securities they represent. Such costs would lower performance. It is not possible to invest directly in an index.

 

10

 

 

Pacer Swan SOS Flex (April) ETF

PERFORMANCE SUMMARY
(Unaudited)

 

Growth of $10,000

 

This chart illustrates the performance of a hypothetical $10,000 investment made on March 31, 2021, and is not intended to imply any future performance. The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The chart assumes reinvestment of capital gains and dividends.

 

The Pacer Swan SOS Flex (April) ETF (the “Fund”) seeks to provide investors with returns that match those of the SPDR® S&P 500® ETF Trust (the “Underlying ETF”) up to a predetermined upside cap of 16.04% (before fees and expenses of the Fund) and 15.29% (after fees and expenses of the Fund), while providing a buffer against the first 20% of Underlying ETF losses with the benefits of such buffer declining from 20% to 0% for Underlying ETF losses between 20% and 40%, over the period from April 1, 2021 to March 31, 2022.

 

The S&P 500 Index consists of approximately 500 leading U.S.-listed companies representing approximately 8% of the U.S. equity market capitalization.

 

Annualized Returns (1)
(For the periods ended April 30, 2022)

 

 

Six Months

One Year

Since Inception(2)

Pacer Swan SOS Flex (April) ETF - NAV

-4.49%

1.93%

5.00%

Pacer Swan SOS Flex (April) ETF - Market

-4.72%

1.97%

4.95%

S&P 500 Index (3)

-9.65%

0.21%

5.13%

 

(1)

The performance data quoted is historical. Past performance is no guarantee of future results. Current performance may be higher or lower than the performance data quoted. The principal value and investment return of an investment will fluctuate so that investor’s shares, when redeemed, may be worth more or less than the original cost. The returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on redemptions of Fund shares. The total annual operating expenses as stated in the fee table to the Fund’s prospectus dated February 28, 2022 as supplemented April 1, 2022, is 0.75%. For performance information current to the most recent month- end, please call 1-877-337-0500.

(2)

Inception date is March 31, 2021.

(3)

Indexes are unmanaged statistical composites and their returns do not include fees an investor would pay to purchase the securities they represent. Such costs would lower performance. It is not possible to invest directly in an index.

 

11

 

 

Pacer Swan SOS Conservative (July) ETF

PERFORMANCE SUMMARY
(Unaudited)

 

Growth of $10,000

 

This chart illustrates the performance of a hypothetical $10,000, investment made on June 30, 2021, and is not intended to imply any future performance. The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The chart assumes reinvestment of capital gains and dividends.

 

The Pacer Swan SOS Conservative (July) ETF (the “Fund”) seeks to provide investors with returns that, before fees and expenses of the Fund, match those of the SPDR® S&P 500® ETF Trust (the “Underlying ETF”) up to a predetermined upside cap of 7.15% (before fees and expenses of the Fund) and 6.40% (after fees and expenses of the Fund), while providing a buffer against Underlying ETF losses between 5% and 30% over the period from July 1, 2021 to June 30, 2022.

 

The S&P 500 Index consists of approximately 500 leading U.S.-listed companies representing approximately 8% of the U.S. equity market capitalization.

 

Cumulative Returns (1)
(For the periods ended April 30, 2022)

 

 

Six Months

Since Inception(2)

Pacer Swan SOS Conservative (July) ETF - NAV

-4.08%

-1.95%

Pacer Swan SOS Conservative (July) ETF - Market

-4.20%

-1.80%

S&P 500 Index (3)

-9.65%

-2.75%

 

(1)

The performance data quoted is historical. Past performance is no guarantee of future results. Current performance may be higher or lower than the performance data quoted. The principal value and investment return of an investment will fluctuate so that investor’s shares, when redeemed, may be worth more or less than the original cost. The returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on redemptions of Fund shares. The total annual operating expenses as stated in the fee table to the Fund’s prospectus dated February 28, 2022 as supplemented April 1, 2022, is 0.75%. For performance information current to the most recent month- end, please call 1-877-337-0500.

(2)

Inception date is June 30, 2021.

(3)

Indexes are unmanaged statistical composites and their returns do not include fees an investor would pay to purchase the securities they represent. Such costs would lower performance. It is not possible to invest directly in an index.

 

12

 

 

Pacer Swan SOS Moderate (July) ETF

PERFORMANCE SUMMARY
(Unaudited)

 

Growth of $10,000

 

This chart illustrates the performance of a hypothetical $10,000, investment made on June 30, 2021, and is not intended to imply any future performance. The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The chart assumes reinvestment of capital gains and dividends.

 

The Pacer Swan SOS Moderate (July) ETF (the “Fund”) seeks to provide investors with returns that, before fees and expenses of the Fund, match those of the SPDR® S&P 500® ETF Trust (“the Underlying ETF”) up to a predetermined upside cap of 7.95% (before fees and expenses of the Fund) and 7.20% (after fees and expenses of the Fund), while providing a buffer against the first 15% of Underlying ETF losses, over the period from July 1, 2021 to June 30, 2022.

 

The S&P 500 Index consists of approximately 500 leading U.S.-listed companies representing approximately 8% of the U.S. equity market capitalization.

 

Cumulative Returns (1)
(For the periods ended April 30, 2022)

 

 

Six Months

Since Inception(2)

Pacer Swan SOS Moderate (July) ETF - NAV

-3.12%

-0.57%

Pacer Swan SOS Moderate (July) ETF - Market

-3.35%

-0.54%

S&P 500 Index (3)

-9.65%

-2.75%

 

(1)

The performance data quoted is historical. Past performance is no guarantee of future results. Current performance may be higher or lower than the performance data quoted. The principal value and investment return of an investment will fluctuate so that investor’s shares, when redeemed, may be worth more or less than the original cost. The returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on redemptions of Fund shares. The total annual operating expenses as stated in the fee table to the Fund’s prospectus dated February 28, 2022 as supplemented April 1, 2022, is 0.75%. For performance information current to the most recent month- end, please call 1-877-337-0500.

(2)

Inception date is June 30, 2021

(3)

Indexes are unmanaged statistical composites and their returns do not include fees an investor would pay to purchase the securities they represent. Such costs would lower performance. It is not possible to invest directly in an index.

 

 

13

 

 

Pacer Swan SOS Flex (July) ETF

PERFORMANCE SUMMARY
(Unaudited)

 

Growth of $10,000

 

This chart illustrates the performance of a hypothetical $10,000, investment made on June 30, 2021, and is not intended to imply any future performance. The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The chart assumes reinvestment of capital gains and dividends.

 

The Pacer Swan SOS Flex (July) ETF (the “Fund”) seeks to provide investors with returns that match those of the SPDR® S&P 500® ETF Trust (the “Underlying ETF”) up to a predetermined upside cap of 11.30% (before fees and expenses of the Fund) and 10.55% (after fees and expenses of the Fund), while providing a buffer against the first 20% of Underlying ETF losses with the benefits of such buffer declining from 20% to 0% for Underlying ETF losses between 20% and 40%, over the period from July 1, 2021 to June 30, 2022.

 

The S&P 500 Index consists of approximately 500 leading U.S.-listed companies representing approximately 8% of the U.S. equity market capitalization.

 

Cumulative Returns (1)
(For the periods ended April 30, 2022)

 

 

Six Months

Since Inception(2)

Pacer Swan SOS Flex (July) ETF - NAV

-4.37%

-0.49%

Pacer Swan SOS Flex (July) ETF - Market

-4.51%

-0.43%

S&P 500 Index (3)

-9.65%

-2.75%

 

(1)

The performance data quoted is historical. Past performance is no guarantee of future results. Current performance may be higher or lower than the performance data quoted. The principal value and investment return of an investment will fluctuate so that investor’s shares, when redeemed, may be worth more or less than the original cost. The returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on redemptions of Fund shares. The total annual operating expenses as stated in the fee table to the Fund’s prospectus dated February 28, 2022 as supplemented April 1, 2022, is 0.75%. For performance information current to the most recent month- end, please call 1-877-337-0500.

(2)

Inception date is June 30, 2021

(3)

Indexes are unmanaged statistical composites and their returns do not include fees an investor would pay to purchase the securities they represent. Such costs would lower performance. It is not possible to invest directly in an index.

 

14

 

 

Pacer Swan SOS Conservative (October) ETF

PERFORMANCE SUMMARY
(Unaudited)

 

Growth of $10,000

 

This chart illustrates the performance of a hypothetical $10,000 investment made on September 30, 2021, and is not intended to imply any future performance. The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The chart assumes reinvestment of capital gains and dividends.

 

The Pacer Swan SOS Conservative (October) ETF (the “Fund”) seeks to provide investors with returns that, before fees and expenses of the Fund, match those of the SPDR® S&P 500® ETF Trust (the “Underlying ETF”) up to a predetermined upside cap of 7.56% (before fees and expenses of the Fund) and 6.81% (after fees and expenses of the Fund), while providing a buffer against Underlying ETF losses between 5% and 30% over the period from October 1, 2021 to September 30, 2022.

 

The S&P 500 Index consists of approximately 500 leading U.S.-listed companies representing approximately 8% of the U.S. equity market capitalization.

 

Cumulative Returns (1)
(For the periods ended April 30, 2022)

 

 

Six Months

Since Inception(2)

Pacer Swan SOS Conservative (October) ETF - NAV

-3.64%

-2.00%

Pacer Swan SOS Conservative (October) ETF - Market

-3.74%

-1.79%

S&P 500 Index (3)

-9.65%

-3.32%

 

(1)

The performance data quoted is historical. Past performance is no guarantee of future results. Current performance may be higher or lower than the performance data quoted. The principal value and investment return of an investment will fluctuate so that investor’s shares, when redeemed, may be worth more or less than the original cost. The returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on redemptions of Fund shares. The total annual operating expenses as stated in the fee table to the Fund’s prospectus dated February 28, 2022 as supplemented April 1, 2022, is 0.75%. For performance information current to the most recent month- end, please call 1-877-337-0500.

(2)

Inception date is September 30, 2021

(3)

Indexes are unmanaged statistical composites and their returns do not include fees an investor would pay to purchase the securities they represent. Such costs would lower performance. It is not possible to invest directly in an index.

 

15

 

 

Pacer Swan SOS Moderate (October) ETF

PERFORMANCE SUMMARY
(Unaudited)

 

Growth of $10,000

 

This chart illustrates the performance of a hypothetical $10,000 investment made on September 30, 2021, and is not intended to imply any future performance. The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The chart assumes reinvestment of capital gains and dividends.

 

The Pacer Swan SOS Moderate (October) ETF (the “Fund”) seeks to provide investors with returns that, before fees and expenses of the Fund, match those of the SPDR® S&P 500® ETF Trust (“the Underlying ETF”) up to a predetermined upside cap of 9.07% (before fees and expenses of the Fund) and 8.32% (after fees and expenses of the Fund), while providing a buffer against the first 15% of Underlying ETF losses, over the period from October 1, 2021 to September 30, 2022.

 

The S&P 500 Index consists of approximately 500 leading U.S.-listed companies representing approximately 8% of the U.S. equity market capitalization.

 

Cumulative Returns (1)
(For the periods ended April 30, 2022)

 

 

Six Months

Since Inception(2)

Pacer Swan SOS Moderate (October) ETF - NAV

-3.69%

-1.54%

Pacer Swan SOS Moderate (October) ETF - Market

-3.77%

-1.39%

S&P 500 Index (3)

-9.65%

-3.32%

 

(1)

The performance data quoted is historical. Past performance is no guarantee of future results. Current performance may be higher or lower than the performance data quoted. The principal value and investment return of an investment will fluctuate so that investor’s shares, when redeemed, may be worth more or less than the original cost. The returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on redemptions of Fund shares. The total annual operating expenses as stated in the fee table to the Fund’s prospectus dated February 28, 2022 as supplemented April 1, 2022, is 0.75%. For performance information current to the most recent month- end, please call 1-877-337-0500.

(2)

Inception date is September 30, 2021

(3)

Indexes are unmanaged statistical composites and their returns do not include fees an investor would pay to purchase the securities they represent. Such costs would lower performance. It is not possible to invest directly in an index.

 

16

 

 

Pacer Swan SOS Flex (October) ETF

PERFORMANCE SUMMARY
(Unaudited)

 

Growth of $10,000

 

This chart illustrates the performance of a hypothetical $10,000 investment made on September 30, 2021, and is not intended to imply any future performance. The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The chart assumes reinvestment of capital gains and dividends.

 

The Pacer Swan SOS Flex (October) ETF (the “Fund”) seeks to provide investors with returns that match those of the SPDR® S&P 500® ETF Trust (the “Underlying ETF”) up to a predetermined upside cap of 12.98% (before fees and expenses of the Fund) and 12.23% (after fees and expenses of the Fund), while providing a buffer against the first 20% of Underlying ETF losses with the benefits of such buffer declining from 20% to 0% for Underlying ETF losses between 20% and 40%, over the period from October 1, 2021 to September 30, 2022.

 

The S&P 500 Index consists of approximately 500 leading U.S.-listed companies representing approximately 8% of the U.S. equity market capitalization.

 

Cumulative Returns (1)
(For the periods ended April 30, 2022)

 

 

Six Months

Since Inception(2)

Pacer Swan SOS Flex (October) ETF - NAV

-4.90%

-1.44%

Pacer Swan SOS Flex (October) ETF - Market

-4.96%

-1.31%

S&P 500 Index (3)

-9.65%

-3.32%

 

(1)

The performance data quoted is historical. Past performance is no guarantee of future results. Current performance may be higher or lower than the performance data quoted. The principal value and investment return of an investment will fluctuate so that investor’s shares, when redeemed, may be worth more or less than the original cost. The returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on redemptions of Fund shares. The total annual operating expenses as stated in the fee table to the Fund’s prospectus dated February 28, 2022 as supplemented April 1, 2022, is 0.75%. For performance information current to the most recent month- end, please call 1-877-337-0500.

(2)

Inception date is September 30, 2021

(3)

Indexes are unmanaged statistical composites and their returns do not include fees an investor would pay to purchase the securities they represent. Such costs would lower performance. It is not possible to invest directly in an index.

 

 

17

 

 

Pacer BlueStar Digital Entertainment ETF

PERFORMANCE SUMMARY
(Unaudited)

 

Growth of $10,000

 

This chart illustrates the performance of a hypothetical $10,000 investment made on April 7, 2022, and is not intended to imply any future performance. The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The chart assumes reinvestment of capital gains and dividends.

 

The BlueStar Global Online Gambling, Video Gaming, and eSports Index is a rules-based index that consists of globally-listed stocks and depositary receipts of digital entertainment companies. Companies eligible to be added to the Index are those that derive at least 50% of their revenues from the following activities: online gambling platforms or software related to online gambling; video game development and software related to the development of video games or hardware such as computer processors and graphics cards used in video gaming systems, controllers, headsets, and gaming consoles; and streaming services or video games and/or hardware for use in eSports events or that are involved in eSports events such as league operators, teams, distributors and platforms, (collectively, “Digital Entertainment”) as determined by MV Index Solutions (the “Index Provider”).

 

The S&P 500 Index consists of approximately 500 leading U.S.-listed companies representing approximately 8% of the U.S. equity market capitalization.

 

Cumulative Returns(1)
(For the periods ended April 30, 2022)

 

 

Since Inception(2)

Pacer BlueStar Digital Entertainment ETF - NAV

-8.92%

Pacer BlueStar Digital Entertainment ETF - Market

-9.89%

BlueStar Global Online Gambling, Video Gaming, and eSports Index

-9.33%

S&P 500 Index (3)

-8.13%

 

(1)

The performance data quoted is historical. Past performance is no guarantee of future results. Current performance may be higher or lower than the performance data quoted. The principal value and investment return of an investment will fluctuate so that investor’s shares, when redeemed, may be worth more or less than the original cost. The returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on redemptions of Fund shares. The total annual operating expenses as stated in the fee table to the Fund’s prospectus dated April 6, 2022 as supplemented April 27, 2022, is 0.60%. For performance information current to the most recent month-end, please call 1-877-337-0500.

(2)

Inception date is April 7, 2022.

(3)

Indexes are unmanaged statistical composites and their returns do not include fees an investor would pay to purchase the securities they represent. Such costs would lower performance. It is not possible to invest directly in an index.

 

18

 

 

Pacer Funds

EXPENSE EXAMPLE
For the Period Ended April 30, 2022 (Unaudited)

 

As a shareholder of a Fund, you pay ongoing expenses, such as advisory fees, and other Fund expenses. The following examples are intended to help you understand the ongoing cost (in dollars) of investing in a Fund and to compare these costs with the ongoing costs of investing in other funds. Please note, the expenses shown in the tables are meant to highlight ongoing costs only and do not reflect any transactional costs. You may pay brokerage commissions on your purchase and sale of Fund shares, which are not reflected in the following examples. Each example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period as indicated below.

 

Actual Expenses

 

The columns under the heading entitled “Actual” help you estimate the actual expenses you paid over the period. The “Actual Ending Account Value” shown is derived from a Fund’s actual return and the “Actual Expenses Paid During Period” show the dollar amount that would have been paid by an investor who started with $1,000 in the Fund. To estimate the expenses you paid on your account during this period, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000=8.6), then multiply the result by the number in the column under the heading untitled “Actual Expenses Paid During Period”.

 

Hypothetical Example for Comparison Purposes

 

The columns under the heading entitled “Hypothetical” provide information about hypothetical account value and hypothetical expenses based on a Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s return. The hypothetical account value and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in a Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of other funds.

 

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs which may be applicable to your account. Therefore, the last column of the table (Hypothetical Expenses Paid During Period) is useful in comparing ongoing costs only and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

 

 

Fund’s Annual
Expense Ratio

Beginning
Account Value
11/01/21

Ending
Account Value
04/30/22

Expenses Paid
During Period
(a)

Pacer American Energy Independence ETF

       

Actual

0.75%

$ 1,000.00

$ 1,128.60

$ 3.96

Hypothetical(b)

0.75%

$ 1,000.00

$ 1,021.08

$ 3.76

Pacer Swan SOS Conservative (January) ETF

       

Actual

0.75%

$ 1,000.00

$ 953.80

$ 3.63

Hypothetical(b)

0.75%

$ 1,000.00

$ 1,021.08

$ 3.76

Pacer Swan SOS Moderate (January) ETF

       

Actual

0.75%

$ 1,000.00

$ 949.20

$ 3.62

Hypothetical(b)

0.75%

$ 1,000.00

$ 1,021.08

$ 3.76

Pacer Swan SOS Flex (January) ETF

       

Actual

0.75%

$ 1,000.00

$ 944.50

$ 3.62

Hypothetical(b)

0.75%

$ 1,000.00

$ 1,021.08

$ 3.76

Pacer Swan SOS Fund of Funds ETF

       

Actual

0.18%

$ 1,000.00

$ 953.30

$ 0.87

Hypothetical(b)

0.18%

$ 1,000.00

$ 1,023.90

$ 0.90

Pacer Swan SOS Conservative (April) ETF

       

Actual

0.75%

$ 1,000.00

$ 976.40

$ 3.68

Hypothetical(b)

0.75%

$ 1,000.00

$ 1,021.08

$ 3.76

Pacer Swan SOS Moderate (April) ETF

       

Actual

0.75%

$ 1,000.00

$ 971.70

$ 3.67

Hypothetical(b)

0.75%

$ 1,000.00

$ 1,021.08

$ 3.76

Pacer Swan SOS Flex (April) ETF

       

Actual

0.75%

$ 1,000.00

$ 955.10

$ 3.64

Hypothetical(b)

0.75%

$ 1,000.00

$ 1,021.08

$ 3.76

 

19

 

 

Pacer Funds

EXPENSE EXAMPLE
For the Period Ended April 30, 2022 (Unaudited) (Continued)

 

 

Fund’s Annual
Expense Ratio

Beginning
Account Value
11/01/21

Ending
Account Value
04/30/22

Expenses Paid
During Period
(a)

Pacer Swan SOS Conservative (July) ETF

       

Actual

0.75%

$ 1,000.00

$ 959.20

$ 3.64

Hypothetical(b)

0.75%

$ 1,000.00

$ 1,021.08

$ 3.76

Pacer Swan SOS Moderate (July) ETF

       

Actual

0.75%

$ 1,000.00

$ 968.80

$ 3.66

Hypothetical(b)

0.75%

$ 1,000.00

$ 1,021.08

$ 3.76

Pacer Swan SOS Flex (July) ETF

       

Actual

0.75%

$ 1,000.00

$ 956.30

$ 3.64

Hypothetical(b)

0.75%

$ 1,000.00

$ 1,021.08

$ 3.76

Pacer Swan SOS Conservative (October) ETF

       

Actual

0.75%

$ 1,000.00

$ 963.60

$ 3.65

Hypothetical(b)

0.75%

$ 1,000.00

$ 1,021.08

$ 3.76

Pacer Swan SOS Moderate (October) ETF

       

Actual

0.75%

$ 1,000.00

$ 963.10

$ 3.65

Hypothetical(b)

0.75%

$ 1,000.00

$ 1,021.08

$ 3.76

Pacer Swan SOS Flex (October) ETF

       

Actual

0.75%

$ 1,000.00

$ 951.00

$ 3.63

Hypothetical(b)

0.75%

$ 1,000.00

$ 1,021.08

$ 3.76

 

(a)

The dollar amounts shown as expenses paid during the period are equal to the annualized six-month expense ratio multiplied by the average account value during the period, multiplied by the number of days (181) in the most recent six-month period and divided by the number of days in the most recent twelve-month period (365).

(b)

Assumes 5% return before expenses.

 

 

Fund’s Annual
Expense Ratio

Beginning
Account Value
04/07/22
(a)

Ending
Account Value
04/30/22

Expenses Paid
During Period

Pacer BlueStar Digital Entertainment ETF

       

Actual

0.60%

$ 1,000.00

$ 910.80

$ 0.36(b)

Hypothetical(d)

0.60%

$ 1,000.00

$ 1,021.82

$ 3.01(c)

 

(a)

Inception Date of the Fund.

(b)

The dollar amounts shown as expenses paid during the period are equal to the annualized six-month expense ratio multiplied by the average account value during the period, multiplied by the number of days (23) in the most recent period and divided by the number of days in the most recent twelve-month period (365).

(c)

The dollar amounts shown as expenses paid during the period are equal to the annualized six-month expense ratio multiplied by the average account value during the period, multiplied by the number of days (181) in the most recent six-month period and divided by the number of days in the most recent twelve-month period (365).

(d)

Assumes 5% return before expenses.

 

 

20

 

 

Pacer American Energy Independence ETF

SCHEDULES OF INVESTMENTS
April 30, 2022 (Unaudited)

 

   

Shares

   

Value

 

COMMON STOCKS — 77.4%

       
                 

Oil & Gas — 2.3%

       

Tellurian, Inc. (a)

    176,094     $ 876,948  
         

Oil & Gas Services — 1.9%

       

Archrock, Inc.

    81,557       710,361  
         

Pipelines — 73.2% (b)

       

Antero Midstream Corp.

    86,736       890,779  

Cheniere Energy, Inc. (c)

    19,296       2,620,590  

DT Midstream, Inc. (c)

    20,001       1,075,054  

Enbridge, Inc.

    59,835       2,611,100  

EnLink Midstream LLC

    89,497       883,335  

Equitrans Midstream Corp.

    112,748       886,199  

Gibson Energy, Inc.

    43,600       830,153  

Hess Midstream LP - Class A (c)

    23,251       683,812  

Keyera Corp.

    44,315       1,099,380  

Kinder Morgan, Inc.

    147,865       2,683,750  

Kinetik Holdings, Inc.

    9,760       694,424  

New Fortress Energy, Inc. (c)

    21,687       841,022  

NextDecade Corp. (a)

    156,658       875,718  

ONEOK, Inc.

    22,755       1,441,074  

Pembina Pipeline Corp.

    42,017       1,589,886  

Plains GP Holdings LP - Class A

    70,356       785,877  

Targa Resources Corp. (c)

    21,727       1,594,979  

TC Energy Corp.

    47,900       2,533,612  

The Williams Cos., Inc. (c)

    81,958       2,810,340  
              27,431,084  

TOTAL COMMON STOCKS (Cost $21,873,847)

            29,018,393  
         

MASTER LIMITED PARTNERSHIPS AND RELATED COMPANIES — 22.0% (b)

 

Pipelines — 22.0% (b)

       

Crestwood Equity Partners LP

    6,972       203,303  

Energy Transfer LP

    155,565       1,723,660  

Enterprise Products Partners LP

    107,260       2,779,107  

Genesis Energy LP

    12,302       135,076  

Holly Energy Partners LP

    6,304       107,987  

Magellan Midstream Partners LP

    17,226       834,600  

MPLX LP

    30,197       977,175  

NuStar Energy LP

    10,564       161,312  

PBF Logistics LP

    5,320       83,471  

Rattler Midstream LP

    47,616       640,435  

Shell Midstream Partners LP

    12,681       179,183  

 

   

Shares

   

Value

 

Pipelines — 22.0% (b) (Continued)

               

Western Midstream Partners LP

    16,858     $ 407,795  

TOTAL MASTER LIMITED PARTNERSHIPS AND RELATED COMPANIES (Cost $6,384,330)

            8,233,104  

 

   

Principal
Amount

         

SHORT-TERM INVESTMENTS — 0.1%

       
         

Money Market Deposit Accounts — 0.1%

       

U.S. Bank Money Market Deposit Account, 0.130% (d)

  $ 53,914       53,914  

TOTAL SHORT-TERM INVESTMENTS (Cost $53,914)

            53,914  
         
   

Shares

         

INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING — 13.0%

Mount Vernon Liquid Assets Portfolio, LLC, 0.450% (d)

    4,883,031       4,883,031  

TOTAL INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING (Cost $4,883,031)

            4,883,031  
                 

Total Investments (Cost $33,195,122) — 112.5%

            42,188,442  

Liabilities in Excess of Other Assets — (12.5)%

            (4,691,969 )

TOTAL NET ASSETS — 100.0%

          $ 37,496,473  

 

Percentages are stated as a percent of net assets.

 

(a)

Non-income producing security.

 

(b)

To the extent that the Fund invests more heavily in particular industry groups of the economy, its performance will be especially sensitive to developments that significantly affect those industry groups or strategies.

 

(c)

All or a portion of this security is on loan as of April 30, 2022. The total value of securities on loan is $4,637,944 or 12.4% of net assets.

 

(d)

The rate shown is as of April 30, 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.

 

The accompanying notes are an integral part of the financial statements.

 

21

 

 

Pacer Swan SOS Conservative (January) ETF

SCHEDULES OF INVESTMENTS
April 30, 2022 (Unaudited)

 

   

Contracts

   

Notional Amount

   

Value

 

PURCHASED OPTIONS — 102.0% (a) (b)

               
                         

CALL OPTIONS — 92.1%

                       

SPDR S&P 500 ETF Trust, Expires 12/30/2022, Strike Price $5.52

    182     $ 7,498,400     $ 7,308,695  
                      7,308,695  

PUT OPTIONS — 9.9%

                       

SPDR S&P 500 ETF Trust, Expires 12/30/2022, Strike Price $436.88

    182       7,498,400       784,584  
                      784,584  

TOTAL PURCHASED OPTIONS (Cost $8,782,333)

                    8,093,279  
                         
   

Principal
Amount

                 

SHORT-TERM INVESTMENTS — 0.9%

                       
                         

Money Market Deposit Accounts — 0.9%

                       

U.S. Bank Money Market Deposit Account, 0.130% (c)

  $ 75,582               75,582  

TOTAL SHORT-TERM INVESTMENTS (Cost $75,582)

                    75,582  
                         

Total Investments (Cost $8,857,915) — 102.9%

                    8,168,861  

Liabilities in Excess of Other Assets - (2.9%)

                    (231,078 )

TOTAL NET ASSETS — 100.0%

                  $ 7,937,783  

 

Percentages are stated as a percent of net assets.

 

(a)

Exchange-Traded.

 

(b)

Purchased option contracts are held in connection with corresponding written option contracts.

 

(c)

The rate shown is as of April 30, 2022.

 

SCHEDULE OF WRITTEN OPTIONS
April 30, 2022 (Unaudited)

 

   

Contracts

   

Notional Amount

   

Value

 

WRITTEN OPTIONS — (2.9%) (a)

               
                         

CALL OPTIONS — (0.6%)

                       

SPDR S&P 500 ETF Trust, Expires 12/30/2022, Strike Price $499.42

    182     $ (7,498,400 )   $ (49,966 )
                      (49,966 )

PUT OPTIONS — (2.3%)

                       

SPDR S&P 500 ETF Trust, Expires 12/30/2022, Strike Price $321.91

    182       (7,498,400 )     (178,960 )
                      (178,960 )

TOTAL WRITTEN OPTIONS (Premiums Received $497,215)

                  $ (228,926 )

 

Percentages are stated as a percent of net assets.

 

(a)

Exchange-Traded.

 

The accompanying notes are an integral part of the financial statements.

 

22

 

 

Pacer Swan SOS Moderate (January) ETF

SCHEDULES OF INVESTMENTS
April 30, 2022 (Unaudited)

 

   

Contracts

   

Notional Amount

   

Value

 

PURCHASED OPTIONS — 105.6% (a) (b)

               
                         

CALL OPTIONS — 92.6%

                       

SPDR S&P 500 ETF Trust, Expires 12/30/2022, Strike Price $5.56

    506     $ 20,847,200     $ 20,317,785  
                      20,317,785  

PUT OPTIONS — 13.0%

                       

SPDR S&P 500 ETF Trust, Expires 12/30/2022, Strike Price $459.92

    506       20,847,200       2,848,937  
                      2,848,937  

TOTAL PURCHASED OPTIONS (Cost $24,690,636)

                    23,166,722  
                         
   

Principal
Amount

                 

SHORT-TERM INVESTMENTS — 0.6%

                       
                         

Money Market Deposit Accounts — 0.6%

                       

U.S. Bank Money Market Deposit Account, 0.130% (c)

  $ 130,508               130,508  

TOTAL SHORT-TERM INVESTMENTS (Cost $130,508)

                    130,508  
                         

Total Investments (Cost $24,821,144) — 106.2%

                    23,297,230  

Liabilities in Excess of Other Assets — (6.2%)

                    (1,358,688 )

TOTAL NET ASSETS — 100.0%

                  $ 21,938,542  

 

Percentages are stated as a percent of net assets.

 

(a)

Exchange-Traded.

 

(b)

Purchased option contracts are held in connection with corresponding written option contracts.

 

(c)

The rate shown is as of April 30, 2022.

 

SCHEDULE OF WRITTEN OPTIONS
April 30, 2022 (Unaudited)

 

   

Contracts

   

Notional Amount

   

Value

 

WRITTEN OPTIONS — (6.1%) (a)

               
                         

CALL OPTIONS — (0.4%)

                       

SPDR S&P 500 ETF Trust, Expires 12/30/2022, Strike Price $507.24

    506     $ (20,847,200 )   $ (100,248 )
                      (100,248 )

PUT OPTIONS — (5.7%)

                       

SPDR S&P 500 ETF Trust, Expires 12/30/2022, Strike Price $390.89

    506       (20,847,200 )     (1,246,673 )
                      (1,246,673 )

TOTAL WRITTEN OPTIONS (Premiums Received $1,703,154)

                  $ (1,346,921 )

 

Percentages are stated as a percent of net assets.

 

(a)

Exchange-Traded.

 

The accompanying notes are an integral part of the financial statements.

 

23

 

 

Pacer Swan SOS Flex (January) ETF

SCHEDULES OF INVESTMENTS
April 30, 2022 (Unaudited)

 

   

Contracts

   

Notional Amount

   

Value

 

PURCHASED OPTIONS — 107.9% (a) (b)

                       
                         

CALL OPTIONS — 93.5%

                       

SPDR S&P 500 ETF Trust, Expires 12/30/2022, Strike Price $5.61

    773     $ 31,847,600     $ 31,035,023  
                      31,035,023  

PUT OPTIONS — 14.4%

                       

SPDR S&P 500 ETF Trust, Expires 12/30/2022, Strike Price $275.92

    773       31,847,600       417,158  

SPDR S&P 500 ETF Trust, Expires 12/30/2022, Strike Price $459.87

    773       31,847,600       4,349,707  
                      4,766,865  

TOTAL PURCHASED OPTIONS (Cost $37,617,180)

                    35,801,888  
                         
   

Principal
Amount

                 

SHORT-TERM INVESTMENTS — 0.9%

                       
                         

Money Market Deposit Accounts — 0.9%

                       

U.S. Bank Money Market Deposit Account, 0.130% (c)

  $ 286,580               286,580  

TOTAL SHORT-TERM INVESTMENTS (Cost $286,580)

                    286,580  
                         

Total Investments (Cost $37,903,760) — 108.8%

                    36,088,468  

Liabilities in Excess of Other Assets - (8.8%)

                    (2,908,117 )

TOTAL NET ASSETS — 100.0%

                  $ 33,180,351  

 

Percentages are stated as a percent of net assets.

 

(a)

Exchange-Traded.

 

(b)

Purchased option contracts are held in connection with corresponding written option contracts.

 

(c)

The rate shown is as of April 30, 2022.

 

SCHEDULE OF WRITTEN OPTIONS
April 30, 2022 (Unaudited)

 

   

Contracts

   

Notional Amount

   

Value

 

WRITTEN OPTIONS — (8.7%) (a)

                       
                         

CALL OPTIONS — (0.2%)

                       

SPDR S&P 500 ETF Trust, Expires 12/30/2022, Strike Price $527.47

    773     $ (31,847,600 )   $ (71,867 )
                      (71,867 )

PUT OPTIONS — (8.5%)

                       

SPDR S&P 500 ETF Trust, Expires 12/30/2022, Strike Price $367.90

    1,546       (63,695,200 )     (2,817,897 )
                      (2,817,897 )

TOTAL WRITTEN OPTIONS (Premiums Received $3,061,968)

                  $ (2,889,764 )

 

Percentages are stated as a percent of net assets.

 

(a)

Exchange-Traded.

 

The accompanying notes are an integral part of the financial statements.

 

24

 

 

Pacer Swan SOS Fund of Funds ETF

SCHEDULES OF INVESTMENTS
April 30, 2022 (Unaudited)

 

   

Shares

   

Value

 

AFFILIATED EXCHANGE-TRADED FUNDS — 99.1%

       
                 

Pacer Swan SOS Conservative (April) ETF (a)

    198,792     $ 4,224,608  

Pacer Swan SOS Conservative (January) ETF (a)

    257,890       5,469,202  

Pacer Swan SOS Conservative (July) ETF (a)

    141,671       2,849,089  

Pacer Swan SOS Conservative (October) ETF (a)

    125,361       2,525,021  

Pacer Swan SOS Flex (April) ETF (a)

    318,778       6,922,487  

Pacer Swan SOS Flex (January) ETF (a)

    363,305       8,165,789  

Pacer Swan SOS Flex (July) ETF (a)

    257,232       5,245,372  

Pacer Swan SOS Flex (October) ETF (a)

    229,374       4,642,851  

Pacer Swan SOS Moderate (April) ETF (a)

    676,196       14,456,056  

Pacer Swan SOS Moderate (January) ETF

    878,691       18,801,527  

Pacer Swan SOS Moderate (July) ETF

    639,736       13,028,544  

Pacer Swan SOS Moderate (October) ETF (a)

    645,142       13,048,255  

TOTAL AFFILIATED EXCHANGE-TRADED FUNDS (Cost $103,592,225)

            99,378,801  
                 
   

Principal
Amount

         

SHORT-TERM INVESTMENTS — 0.9%

 

Money Market Deposit Accounts — 0.9%

U.S. Bank Money Market Deposit Account, 0.130% (b)

  $ 875,067       875,067  

TOTAL SHORT-TERM INVESTMENTS (Cost $875,067)

            875,067  
                 

Total Investments (Cost $104,467,292) — 100.0%

            100,253,868  

Liabilities in Excess of Other Assets — 0.0% (c)

            (14,355 )

TOTAL NET ASSETS — 100.0%

          $ 100,239,513  

 

Percentages are stated as a percent of net assets.

 

(a)

Non-income producing security.

 

(b)

The rate shown is as of April 30, 2022.

 

(c)

Less than 0.05%.

 

The accompanying notes are an integral part of the financial statements.

 

25

 

 

Pacer Swan SOS Conservative (April) ETF

SCHEDULES OF INVESTMENTS
April 30, 2022 (Unaudited)

 

   

Contracts

   

Notional Amount

   

Value

 

PURCHASED OPTIONS — 103.1% (a) (b)

                       
                         

CALL OPTIONS — 93.0%

                       

SPDR S&P 500 ETF Trust, Expires 03/31/2023, Strike Price $5.42

    148     $ 6,097,600     $ 5,923,104  
                      5,923,104  

PUT OPTIONS — 10.1%

                       

SPDR S&P 500 ETF Trust, Expires 03/31/2023, Strike Price $429.06

    148       6,097,600       640,805  
                      640,805  

TOTAL PURCHASED OPTIONS (Cost $6,932,270)

                    6,563,909  
                         
   

Principal
Amount

                 

SHORT-TERM INVESTMENTS — 1.0%

                       
                         

Money Market Deposit Accounts — 1.0%

                       

U.S. Bank Money Market Deposit Account, 0.130% (c)

  $ 60,802               60,802  

TOTAL SHORT-TERM INVESTMENTS (Cost $60,802)

                    60,802  
                         

Total Investments (Cost $6,993,072) — 104.1%

                    6,624,711  

Liabilities in Excess of Other Assets — (4.1%)

                    (259,071 )

TOTAL NET ASSETS — 100.0%

                  $ 6,365,640  

 

Percentages are stated as a percent of net assets.

 

(a)

Exchange-Traded.

 

(b)

Purchased option contracts are held in connection with corresponding written option contracts.

 

(c)

The rate shown is as of April 30, 2022.

 

SCHEDULE OF WRITTEN OPTIONS
April 30, 2022 (Unaudited)

 

   

Contracts

   

Notional Amount

   

Value

 

WRITTEN OPTIONS — (4.0%) (a)

                       
                         

CALL OPTIONS — (1.3%)

                       

SPDR S&P 500 ETF Trust, Expires 03/31/2023, Strike Price $497.84

    148     $ (6,097,600 )   $ (85,097 )
                      (85,097 )

PUT OPTIONS — (2.7%)

                       

SPDR S&P 500 ETF Trust, Expires 03/31/2023, Strike Price $316.15

    148       (6,097,600 )     (172,427 )
                      (172,427 )

TOTAL WRITTEN OPTIONS (Premiums Received $335,570)

                  $ (257,524 )

 

Percentages are stated as a percent of net assets.

 

(a)

Exchange-Traded.

 

The accompanying notes are an integral part of the financial statements.

 

26

 

 

Pacer Swan SOS Moderate (April) ETF

SCHEDULES OF INVESTMENTS
April 30, 2022 (Unaudited)

 

   

Contracts

   

Notional Amount

   

Value

 

PURCHASED OPTIONS — 106.3% (a) (b)

                       
                         

CALL OPTIONS — 93.6%

                       

SPDR S&P 500 ETF Trust, Expires 03/31/2023, Strike Price $5.46

    387     $ 15,944,400     $ 15,486,608  
                      15,486,608  

PUT OPTIONS — 12.7%

                       

SPDR S&P 500 ETF Trust, Expires 03/31/2023, Strike Price $451.69

    387       15,944,400       2,109,024  
                      2,109,024  

TOTAL PURCHASED OPTIONS (Cost $18,435,732)

                    17,595,632  
                         
   

Principal
Amount

                 

SHORT-TERM INVESTMENTS — 1.1%

                       
                         

Money Market Deposit Accounts — 1.1%

                       

U.S. Bank Money Market Deposit Account, 0.130% (c)

  $ 179,183               179,183  

TOTAL SHORT-TERM INVESTMENTS (Cost $179,183)

                    179,183  
                         

Total Investments (Cost $18,614,915) — 107.4%

                    17,774,815  

Liabilities in Excess of Other Assets — (7.4%)

                    (1,219,222 )

TOTAL NET ASSETS — 100.0%

                  $ 16,555,593  

 

Percentages are stated as a percent of net assets.

 

(a)

Exchange-Traded.

 

(b)

Purchased option contracts are held in connection with corresponding written option contracts.

 

(c)

The rate shown is as of April 30, 2022.

 

SCHEDULE OF WRITTEN OPTIONS
April 30, 2022 (Unaudited)

 

   

Contracts

   

Notional Amount

   

Value

 

WRITTEN OPTIONS — (7.3%) (a)

                       
                         

CALL OPTIONS — (1.2%)

                       

SPDR S&P 500 ETF Trust, Expires 03/31/2023, Strike Price $502.72

    387     $ (15,944,400 )   $ (192,383 )
                      (192,383 )

PUT OPTIONS — (6.1%)

                       

SPDR S&P 500 ETF Trust, Expires 03/31/2023, Strike Price $383.89

    387       (15,944,400 )     (1,019,337 )
                      (1,019,337 )

TOTAL WRITTEN OPTIONS (Premiums Received $1,178,431)

                  $ (1,211,720 )

 

Percentages are stated as a percent of net assets.

 

(a)

Exchange-Traded.

 

The accompanying notes are an integral part of the financial statements.

 

27

 

 

Pacer Swan SOS Flex (April) ETF

SCHEDULES OF INVESTMENTS
April 30, 2022 (Unaudited)

 

   

Contracts

   

Notional Amount

   

Value

 

PURCHASED OPTIONS — 109.3% (a) (b)

                       
                         

CALL OPTIONS — 94.8%

                       

SPDR S&P 500 ETF Trust, Expires 03/31/2023, Strike Price $5.51

    283     $ 11,659,600     $ 11,323,452  
                      11,323,452  

PUT OPTIONS — 14.5%

                       

SPDR S&P 500 ETF Trust, Expires 03/31/2023, Strike Price $270.98

    283       11,659,600       187,562  

SPDR S&P 500 ETF Trust, Expires 03/31/2023, Strike Price $451.64

    283       11,659,600       1,541,525  
                      1,729,087  

TOTAL PURCHASED OPTIONS (Cost $13,603,421)

                    13,052,539  
                         
   

Principal
Amount

                 

SHORT-TERM INVESTMENTS — 1.1%

                       
                         

Money Market Deposit Accounts — 1.1%

                       

U.S. Bank Money Market Deposit Account, 0.130% (c)

  $ 133,952               133,952  

TOTAL SHORT-TERM INVESTMENTS (Cost $133,952)

                    133,952  
                         

Total Investments (Cost $13,737,373) — 110.4%

                    13,186,491  

Liabilities in Excess of Other Assets — (10.4%)

                    (1,236,817 )

TOTAL NET ASSETS — 100.0%

                  $ 11,949,674  

 

Percentages are stated as a percent of net assets.

 

(a)

Exchange-Traded.

 

(b)

Purchased option contracts are held in connection with corresponding written option contracts.

 

(c)

The rate shown is as of April 30, 2022.

 

SCHEDULE OF WRITTEN OPTIONS
April 30, 2022 (Unaudited)

 

   

Contracts

   

Notional Amount

   

Value

 

WRITTEN OPTIONS — (10.3%) (a)

                       
                         

CALL OPTIONS — (0.7%)

                       

SPDR S&P 500 ETF Trust, Expires 03/31/2023, Strike Price $518.84

    283     $ (11,659,600 )   $ (85,538 )
                      (85,538 )

PUT OPTIONS — (9.6%)

                       

SPDR S&P 500 ETF Trust, Expires 03/31/2023, Strike Price $361.31

    566       (23,319,200 )     (1,146,915 )
                      (1,146,915 )

TOTAL WRITTEN OPTIONS (Premiums Received $985,373)

                  $ (1,232,453 )

 

Percentages are stated as a percent of net assets.

 

(a)

Exchange-Traded.

 

The accompanying notes are an integral part of the financial statements.

 

28

 

 

Pacer Swan SOS Conservative (July) ETF

SCHEDULES OF INVESTMENTS
April 30, 2022 (Unaudited)

 

   

Contracts

   

Notional Amount

   

Value

 

PURCHASED OPTIONS — 100.3% (a) (b)

                       
                         

CALL OPTIONS — 96.6%

                       

SPDR S&P 500 ETF Trust, Expires 06/30/2022, Strike Price $6.42

    96     $ 3,955,200     $ 3,878,441  
                      3,878,441  

PUT OPTIONS — 3.7%

                       

SPDR S&P 500 ETF Trust, Expires 06/30/2022, Strike Price $406.66

    96       3,955,200       150,289  
                      150,289  

TOTAL PURCHASED OPTIONS (Cost $4,245,732)

                    4,028,730  
                         
   

Principal
Amount

                 

SHORT-TERM INVESTMENTS — 0.4%

                       
                         

Money Market Deposit Accounts — 0.4%

                       

U.S. Bank Money Market Deposit Account, 0.130% (c)

  $ 15,906               15,906  

TOTAL SHORT-TERM INVESTMENTS (Cost $15,906)

                    15,906  
                         

Total Investments (Cost $4,261,638) — 100.7%

                    4,044,636  

Liabilities in Excess of Other Assets — (0.7%)

                    (28,543 )

TOTAL NET ASSETS — 100.0%

                  $ 4,016,093  

 

Percentages are stated as a percent of net assets.

 

(a)

Exchange-Traded.

 

(b)

Purchased option contracts are held in connection with corresponding written option contracts.

 

(c)

The rate shown is as of April 30, 2022.

 

SCHEDULE OF WRITTEN OPTIONS
April 30, 2022 (Unaudited)

 

   

Contracts

   

Notional Amount

   

Value

 

WRITTEN OPTIONS — (0.7%) (a)

                       
                         

CALL OPTIONS — (0.3%)

                       

SPDR S&P 500 ETF Trust, Expires 06/30/2022, Strike Price $458.67

    96     $ (3,955,200 )   $ (13,080 )
                      (13,080 )

PUT OPTIONS — (0.4%)

                       

SPDR S&P 500 ETF Trust, Expires 06/30/2022, Strike Price $299.64

    96       (3,955,200 )     (15,461 )
                      (15,461 )

TOTAL WRITTEN OPTIONS (Premiums Received $209,435)

                  $ (28,541 )

 

Percentages are stated as a percent of net assets.

 

(a)

Exchange-Traded.

 

The accompanying notes are an integral part of the financial statements.

 

29

 

 

Pacer Swan SOS Moderate (July) ETF

SCHEDULES OF INVESTMENTS
April 30, 2022 (Unaudited)

 

   

Contracts

   

Notional Amount

   

Value

 

PURCHASED OPTIONS — 101.2% (a) (b)

                       
                         

CALL OPTIONS — 95.2%

                       

SPDR S&P 500 ETF Trust, Expires 06/30/2022, Strike Price $6.46

    360     $ 14,832,000     $ 14,542,714  
                      14,542,714  

PUT OPTIONS — 6.0%

                       

SPDR S&P 500 ETF Trust, Expires 06/30/2022, Strike Price $428.10

    360       14,832,000       910,436  
                      910,436  

TOTAL PURCHASED OPTIONS (Cost $16,146,150)

                    15,453,150  
                         
   

Principal
Amount

                 

SHORT-TERM INVESTMENTS — 0.4%

                       
                         

Money Market Deposit Accounts — 0.4%

                       

U.S. Bank Money Market Deposit Account, 0.130% (c)

  $ 61,518               61,518  

TOTAL SHORT-TERM INVESTMENTS (Cost $61,518)

                    61,518  
                         

Total Investments (Cost $16,207,668) — 101.6%

                    15,514,668  

Liabilities in Excess of Other Assets — (1.6%)

                    (245,611 )

TOTAL NET ASSETS — 100.0%

                  $ 15,269,057  

 

Percentages are stated as a percent of net assets.

 

(a)

Exchange-Traded.

 

(b)

Purchased option contracts are held in connection with corresponding written option contracts.

 

(c)

The rate shown is as of April 30, 2022.

 

SCHEDULE OF WRITTEN OPTIONS
April 30, 2022 (Unaudited)

 

   

Contracts

   

Notional Amount

   

Value

 

WRITTEN OPTIONS — (1.6%) (a)

                       
                         

CALL OPTIONS — (0.3%)

                       

SPDR S&P 500 ETF Trust, Expires 06/30/2022, Strike Price $462.09

    360     $ (14,832,000 )   $ (37,066 )
                      (37,066 )

PUT OPTIONS — (1.3%)

                       

SPDR S&P 500 ETF Trust, Expires 06/30/2022, Strike Price $363.85

    360       (14,832,000 )     (201,994 )
                      (201,994 )

TOTAL WRITTEN OPTIONS (Premiums Received $1,013,560)

                  $ (239,060 )

 

Percentages are stated as a percent of net assets.

 

(a)

Exchange-Traded.

 

The accompanying notes are an integral part of the financial statements.

 

30

 

 

Pacer Swan SOS Flex (July) ETF

SCHEDULES OF INVESTMENTS
April 30, 2022 (Unaudited)

 

   

Contracts

   

Notional Amount

   

Value

 

PURCHASED OPTIONS — 101.3% (a) (b)

                       
                         

CALL OPTIONS — 95.1%

                       

SPDR S&P 500 ETF Trust, Expires 06/30/2022, Strike Price $6.51

    144     $ 5,932,800     $ 5,816,367  
                      5,816,367  

PUT OPTIONS — 6.2%

                       

SPDR S&P 500 ETF Trust, Expires 06/30/2022, Strike Price $256.84

    144       5,932,800       12,155  

SPDR S&P 500 ETF Trust, Expires 06/30/2022, Strike Price $428.06

    144       5,932,800       363,888  
                      376,043  

TOTAL PURCHASED OPTIONS (Cost $6,481,440)

                    6,192,410  
                         
   

Principal
Amount

                 

SHORT-TERM INVESTMENTS — 0.5%

                       
                         

Money Market Deposit Accounts — 0.5%

                       

U.S. Bank Money Market Deposit Account, 0.130% (c)

  $ 28,357               28,357  

TOTAL SHORT-TERM INVESTMENTS (Cost $28,357)

                    28,357  
                         

Total Investments (Cost $6,509,797) — 101.8%

                    6,220,767  

Liabilities in Excess of Other Assets — (1.8%)

                    (107,163 )

TOTAL NET ASSETS — 100.0%

                  $ 6,113,604  

 

Percentages are stated as a percent of net assets.

 

(a)

Exchange-Traded.

 

(b)

Purchased option contracts are held in connection with corresponding written option contracts.

 

(c)

The rate shown is as of April 30, 2022.

 

SCHEDULE OF WRITTEN OPTIONS
April 30, 2022 (Unaudited)

 

   

Contracts

   

Notional Amount

   

Value

 

WRITTEN OPTIONS — (1.7%) (a)

                       
                         

CALL OPTIONS — (0.1%)

                       

SPDR S&P 500 ETF Trust, Expires 06/30/2022, Strike Price $476.43

    144     $ (5,932,800 )   $ (4,402 )
                      (4,402 )

PUT OPTIONS — (1.6%)

                       

SPDR S&P 500 ETF Trust, Expires 06/30/2022, Strike Price $342.45

    288       (11,865,600 )     (100,876 )
                      (100,876 )

TOTAL WRITTEN OPTIONS (Premiums Received $403,269)

                  $ (105,278 )

 

Percentages are stated as a percent of net assets.

 

(a)

Exchange-Traded.

 

The accompanying notes are an integral part of the financial statements.

 

31

 

 

Pacer Swan SOS Conservative (October) ETF

SCHEDULES OF INVESTMENTS
April 30, 2022 (Unaudited)

 

   

Contracts

   

Notional Amount

   

Value

 

PURCHASED OPTIONS — 102.0% (a) (b)

                       
                         

CALL OPTIONS — 96.1%

                       

SPDR S&P 500 ETF Trust, Expires 09/30/2022, Strike Price $6.44

    108     $ 4,449,600     $ 4,346,039  
                      4,346,039  

PUT OPTIONS — 5.9%

                       

SPDR S&P 500 ETF Trust, Expires 09/30/2022, Strike Price $407.68

    108       4,449,600       269,939  
                      269,939  

TOTAL PURCHASED OPTIONS (Cost $4,951,640)

                    4,615,978  
                         
   

Principal
Amount

                 

SHORT-TERM INVESTMENTS — 0.5%

                       
                         

Money Market Deposit Accounts — 0.5%

                       

U.S. Bank Money Market Deposit Account, 0.130% (c)

  $ 21,237               21,237  

TOTAL SHORT-TERM INVESTMENTS (Cost $21,237)

                    21,237  
                         

Total Investments (Cost $4,972,877) — 102.5%

                    4,637,215  

Liabilities in Excess of Other Assets — (2.5%)

                    (114,793 )

TOTAL NET ASSETS — 100.0%

                  $ 4,522,422  

 

Percentages are stated as a percent of net assets.

 

(a)

Exchange-Traded.

 

(b)

Purchased option contracts are held in connection with corresponding written option contracts.

 

(c)

The rate shown is as of April 30, 2022.

 

SCHEDULE OF WRITTEN OPTIONS
April 30, 2022 (Unaudited)

 

   

Contracts

   

Notional Amount

   

Value

 

WRITTEN OPTIONS — (2.6%) (a)

                       
                         

CALL OPTIONS — (1.4%)

                       

SPDR S&P 500 ETF Trust, Expires 09/30/2022, Strike Price $461.58

    108     $ (4,449,600 )   $ (62,884 )
                      (62,884 )

PUT OPTIONS — (1.2%)

                       

SPDR S&P 500 ETF Trust, Expires 09/30/2022, Strike Price $300.40

    108       (4,449,600 )     (52,612 )
                      (52,612 )

TOTAL WRITTEN OPTIONS (Premiums Received $362,882)

                  $ (115,496 )

 

Percentages are stated as a percent of net assets.

 

(a)

Exchange-Traded.

 

The accompanying notes are an integral part of the financial statements.

 

32

 

 

Pacer Swan SOS Moderate (October) ETF

SCHEDULES OF INVESTMENTS
April 30, 2022 (Unaudited)

 

   

Contracts

   

Notional Amount

   

Value

 

PURCHASED OPTIONS — 103.7% (a) (b)

                       
                         

CALL OPTIONS — 95.6%

                       

SPDR S&P 500 ETF Trust, Expires 09/30/2022, Strike Price $6.48

    336     $ 13,843,200     $ 13,519,677  
                      13,519,677  

PUT OPTIONS — 8.1%

                       

SPDR S&P 500 ETF Trust, Expires 09/30/2022, Strike Price $429.18

    336       13,843,200       1,149,387  
                      1,149,387  

TOTAL PURCHASED OPTIONS (Cost $15,602,454)

                    14,669,064  
                         
   

Principal
Amount

                 

SHORT-TERM INVESTMENTS — 0.4%

                       
                         

Money Market Deposit Accounts — 0.4%

                       

U.S. Bank Money Market Deposit Account, 0.130% (c)

  $ 50,710               50,710  

TOTAL SHORT-TERM INVESTMENTS (Cost $50,710)

                    50,710  
                         

Total Investments (Cost $15,653,164) — 104.1%

                    14,719,774  

Liabilities in Excess of Other Assets — (4.1%)

                    (583,379 )

TOTAL NET ASSETS — 100.0%

                  $ 14,136,395  

 

Percentages are stated as a percent of net assets.

 

(a)

Exchange-Traded.

 

(b)

Purchased option contracts are held in connection with corresponding written option contracts.

 

(c)

The rate shown is as of April 30, 2022.

 

SCHEDULE OF WRITTEN OPTIONS
April 30, 2022 (Unaudited)

 

   

Contracts

   

Notional Amount

   

Value

 

WRITTEN OPTIONS — (4.1%) (a)

                       
                         

CALL OPTIONS — (1.0%)

                       

SPDR S&P 500 ETF Trust, Expires 09/30/2022, Strike Price $468.06

    336     $ (13,843,200 )   $ (145,161 )
                      (145,161 )

PUT OPTIONS — (3.1%)

                       

SPDR S&P 500 ETF Trust, Expires 09/30/2022, Strike Price $364.77

    336       (13,843,200 )     (431,823 )
                      (431,823 )

TOTAL WRITTEN OPTIONS (Premiums Received $1,758,981)

                  $ (576,984 )

 

Percentages are stated as a percent of net assets.

 

(a)

Exchange-Traded.

 

The accompanying notes are an integral part of the financial statements.

 

33

 

 

Pacer Swan SOS Flex (October) ETF

SCHEDULES OF INVESTMENTS
April 30, 2022 (Unaudited)

 

   

Contracts

   

Notional Amount

   

Value

 

PURCHASED OPTIONS — 104.3% (a) (b)

                       
                         

CALL OPTIONS — 95.5%

                       

SPDR S&P 500 ETF Trust, Expires 09/30/2022, Strike Price $6.52

    132     $ 5,438,400     $ 5,310,777  
                      5,310,777  

PUT OPTIONS — 8.8%

                       

SPDR S&P 500 ETF Trust, Expires 09/30/2022, Strike Price $257.48

    132       5,438,400       36,069  

SPDR S&P 500 ETF Trust, Expires 09/30/2022, Strike Price $429.14

    132       5,438,400       451,286  
                      487,355  

TOTAL PURCHASED OPTIONS (Cost $6,127,011)

                    5,798,132  
                         
   

Principal
Amount

                 

SHORT-TERM INVESTMENTS — 0.5%

                       
                         

Money Market Deposit Accounts — 0.5%

                       

U.S. Bank Money Market Deposit Account, 0.130% (c)

  $ 26,385               26,385  

TOTAL SHORT-TERM INVESTMENTS (Cost $26,385)

                    26,385  
                         

Total Investments (Cost $6,153,396) — 104.8%

                    5,824,517  

Liabilities in Excess of Other Assets — (4.8%)

                    (265,629 )

TOTAL NET ASSETS — 100.0%

                  $ 5,558,888  

 

Percentages are stated as a percent of net assets.

 

(a)

Exchange-Traded.

 

(b)

Purchased option contracts are held in connection with corresponding written option contracts.

 

(c)

The rate shown is as of April 30, 2022.

 

SCHEDULE OF WRITTEN OPTIONS
April 30, 2022 (Unaudited)

 

   

Contracts

   

Notional Amount

   

Value

 

WRITTEN OPTIONS — (4.8%) (a)

                       
                         

CALL OPTIONS — (0.4%)

                       

SPDR S&P 500 ETF Trust, Expires 09/30/2022, Strike Price $484.84

    132     $ (5,438,400 )   $ (24,785 )
                      (24,785 )

PUT OPTIONS — (4.4%)

                       

SPDR S&P 500 ETF Trust, Expires 09/30/2022, Strike Price $343.31

    264       (10,876,800 )     (242,096 )
                      (242,096 )

TOTAL WRITTEN OPTIONS (Premiums Received $534,888)

                  $ (266,881 )

 

Percentages are stated as a percent of net assets.

 

(a)

Exchange-Traded.

 

The accompanying notes are an integral part of the financial statements.

 

34

 

 

Pacer BlueStar Digital Entertainment ETF

SCHEDULE OF INVESTMENTS
April 30, 2022 (Unaudited)

 

   

Shares

   

Value

 

COMMON STOCKS — 99.6%

       
                 

Entertainment — 45.1% (a)

       

888 Holdings PLC

    2,241     $ 5,363  

Aristocrat Leisure Ltd.

    4,149       99,246  

Betmakers Technology Group Ltd. (b)

    8,121       3,376  

BETSSON AB

    897       5,569  

DraftKings, Inc. - Class A (b)

    2,706       37,018  

Entain PLC (b)

    3,528       67,260  

Evolution AB (c)

    1,017       106,588  

Flutter Entertainment PLC (b)

    882       89,865  

GAN Ltd. (b)

    501       1,869  

Golden Nugget Online Gaming, Inc. (b)

    348       1,743  

Kambi Group PLC (b)

    225       3,621  

Kindred Group PLC - SDR

    1,131       10,057  

La Francaise des Jeux SAEM (c)

    837       31,443  

LeoVegas AB (c)

    1,020       4,408  

NEOGAMES SA (b)

    120       1,568  

PointsBet Holdings Ltd. (b)

    1,908       4,068  

Rush Street Interactive, Inc. (b)

    447       2,838  

Sportradar Holding AG (b)

    552       6,922  

Zeal Network SE

    105       4,087  
              486,909  

Internet — 12.6%

               

Catena Media PLC (b)

    576       2,452  

Jumbo Interactive Ltd.

    456       5,687  

Sea Ltd. - ADR (b)

    267       22,097  

Tencent Holdings Ltd.

    2,190       105,339  
              135,575  

Semiconductors — 5.9%

               

Advanced Micro Devices, Inc. (b)

    363       31,044  

NVIDIA Corp.

    177       32,828  
              63,872  

Software — 30.6% (a)

               

Activision Blizzard, Inc.

    522       39,463  

Better Collective A/S (b)

    324       5,045  

Bilibili, Inc. - ADR (b)

    672       16,357  

Capcom Co. Ltd.

    726       19,248  

Electronic Arts, Inc.

    243       28,686  

Embracer Group AB - Class A (b)

    2,175       14,787  

Kingsoft Corp. Ltd.

    5,268       16,181  

Konami Holdings Corp.

    291       18,058  

NetEase, Inc. - ADR

    381       36,321  

Nexon Co. Ltd.

    894       20,508  

Playtech PLC (b)

    1,980       13,026  

ROBLOX Corp. - Class A (b)

    459       14,068  

Skillz, Inc. (b)

    2,328       4,772  

Square Enix Holdings Co. Ltd.

    336       13,512  

 

   

Shares

   

Value

 

Software — 30.6% (a) (Continued)

               

Take-Two Interactive Software, Inc. (b)

    144     $ 17,210  

Ubisoft Entertainment SA (b)

    369       16,797  

Unity Software, Inc. (b)

    282       18,728  

Zynga, Inc. (b)

    2,082       17,218  
              329,985  

Toys/Games/Hobbies — 5.4%

               

Bandai Namco Holdings, Inc.

    288       19,693  

Nintendo Co. Ltd.

    84       38,842  
              58,535  

TOTAL COMMON STOCKS (Cost $1,166,308)

            1,074,876  
                 
   

Principal
Amount

         

SHORT-TERM INVESTMENTS — 0.4%

       
         

Money Market Deposit Accounts — 0.4%

       

U.S. Bank Money Market Deposit Account, 0.130% (d)

  $ 4,060       4,060  

TOTAL SHORT-TERM INVESTMENTS (Cost $4,060)

            4,060  
                 

Total Investments (Cost $1,170,368) — 100.0%

            1,078,936  

Liabilities in Excess of Other Assets — 0.0% (e)

            (145 )

TOTAL NET ASSETS — 100.0%

          $ 1,078,791  

 

Percentages are stated as a percent of net assets.

ADR American Depositary Receipt

SDR Special Drawing Rights

 

(a)

To the extent that the Fund invests more heavily in particular industry groups of the economy, its performance will be especially sensitive to developments that significantly affect those industry groups or strategies.

 

(b)

Non-income producing security.

 

(c)

Security exempt from registration under Rule 144(a) and Regulation S of the Securities Act of 1933. Such securities are treated as liquid securities according to the Fund’s liquidity guidelines. The value of those securities total $142,439 or 13.2% of net assets.

 

(d)

The rate shown is as of April 30, 2022.

 

(e)

Less than 0.05%.

 

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.    

 

The accompanying notes are an integral part of the financial statements.

 

35

 

 

Pacer Funds

STATEMENTS OF ASSETS & LIABILITIES
April 30, 2022 (Unaudited)

 

 

 

Pacer
American Energy
Independence
ETF

   

Pacer
Swan SOS
Conservative
(January) ETF

   

Pacer Swan
SOS Moderate
(January) ETF

   

Pacer Swan
SOS Flex
(January) ETF

 

ASSETS

                               

Investments in Unaffiliated Securities, at Value*

  $ 42,188,442     $ 8,168,861     $ 23,297,230     $ 36,088,468  

Foreign Currency at Value*

    697                    

Interest and Dividends Receivable

    211,135       5       8       17  

Deposits with Broker for Options

          2,952       2,335       2,238  

Prepaid Expenses

    660                    

Securities Lending Income Receivable

    567                    

Total Assets

    42,401,501       8,171,818       23,299,573       36,090,723  
                                 

LIABILITIES

                               

Options Written, at Value

          228,926       1,346,921       2,889,764  

Management Fees Payable

    21,997       5,068       14,057       20,563  

Other Payables

          41       53       45  

Collateral Received for Securities Loaned

    4,883,031                    

Total Liabilities

    4,905,028       234,035       1,361,031       2,910,372  
                                 

NET ASSETS

  $ 37,496,473     $ 7,937,783     $ 21,938,542     $ 33,180,351  
                                 

NET ASSETS CONSIST OF:

                               

Paid-in Capital

  $ 31,962,086     $ 8,228,380     $ 22,991,583     $ 35,296,615  

Total Distributable Earnings (Accumulated Deficit)

    5,534,387       (290,597 )     (1,053,041 )     (2,116,264 )

Net Assets

  $ 37,496,473     $ 7,937,783     $ 21,938,542     $ 33,180,351  

* Identified Cost:

                               

Investments in Unaffiliated Securities

  $ 33,195,122     $ 8,857,915     $ 24,821,144     $ 37,903,760  

Foreign Currencies

    727                    

^ Includes Loaned Securities with a value of

    4,637,944                    

Premiums Received:

                               

Written Options

  $     $ 497,215     $ 1,703,154     $ 3,061,968  
                                 

Net Asset Value:

                               

Net Assets

  $ 37,496,473     $ 7,937,783     $ 21,938,542     $ 33,180,351  

Shares Outstanding (No Par Value)

    1,350,000       375,000       1,025,000       1,475,000  

Net Asset Value, Offering and Redemption Price per Share

  $ 27.78     $ 21.17     $ 21.40     $ 22.50  

 

The accompanying notes are an integral part of the financial statements.

 

36

 

 

Pacer Funds

STATEMENTS OF ASSETS & LIABILITIES
April 30, 2022 (Unaudited)

 

   

Pacer Swan
SOS Fund of
Funds ETF

   

Pacer Swan SOS
Conservative
(April) ETF

   

Pacer Swan
SOS Moderate
(April) ETF

   

Pacer Swan SOS
Flex (April) ETF

 

ASSETS

                               

Investments in Unaffiliated Securities, at Value*

  $ 875,067     $ 6,624,711     $ 17,774,815     $ 13,186,491  

Investments in Affiliated Securities, at Value*

  $ 99,378,801     $     $     $  

Interest and Dividends Receivable

    62       3       9       7  

Deposits with Broker for Options

          2,210       2,866       2,791  

Prepaid Expenses

    635                   386  

Total Assets

    100,254,565       6,626,924       17,777,690       13,189,675  
                                 

LIABILITIES

                               

Options Written, at Value

          257,524       1,211,720       1,232,453  

Management Fees Payable

    15,052       3,686       10,336       7,548  

Other Payables

          74       41        

Total Liabilities

    15,052       261,284       1,222,097       1,240,001  
                                 

NET ASSETS

  $ 100,239,513     $ 6,365,640     $ 16,555,593     $ 11,949,674  
                                 

NET ASSETS CONSIST OF:

                               

Paid-in Capital

  $ 104,393,973     $ 6,454,012     $ 16,837,214     $ 11,893,219  

Total Distributable Earnings (Accumulated Deficit)

    (4,154,460 )     (88,372 )     (281,621 )     56,455  

Net Assets

  $ 100,239,513     $ 6,365,640     $ 16,555,593     $ 11,949,674  

* Identified Cost:

                               

Investments in Unaffiliated Securities

  $ 875,067     $ 6,993,072     $ 18,614,915     $ 13,737,373  

Investments in Affiliated Securities

    103,592,225                    

Premiums Received:

                               

Written Options

  $     $ 335,570     $ 1,178,431     $ 985,373  
                                 

Net Asset Value:

                               

Net Assets

  $ 100,239,513     $ 6,365,640     $ 16,555,593     $ 11,949,674  

Shares Outstanding (No Par Value)

    4,675,000       300,000       775,000       550,000  

Net Asset Value, Offering and Redemption Price per Share

  $ 21.44     $ 21.22     $ 21.36     $ 21.73  

 

The accompanying notes are an integral part of the financial statements.

 

37

 

 

Pacer Funds

STATEMENTS OF ASSETS & LIABILITIES
April 30, 2022 (Unaudited)

 

   

Pacer Swan SOS
Conservative
(July) ETF

   

Pacer Swan
SOS Moderate
(July) ETF

   

Pacer Swan SOS
Flex (July) ETF

   

Pacer Swan SOS
Conservative
(October) ETF

 

ASSETS

                               

Investments in Unaffiliated Securities, at Value*

  $ 4,044,636     $ 15,514,668     $ 6,220,767     $ 4,637,215