NPORT-EX 2 qdpl.htm PART F

Pacer Metaurus US Large Cap Dividend Multiplier 400 ETF
  
Schedule of Investments
  
as of January 31, 2024 (Unaudited)
  
   
COMMON STOCKS - 83.8%
  
Shares
    
Value
  
Communication Services - 7.6%
        
Alphabet, Inc. - Class A(a)
    
27,846
    
$
3,901,225
  
Alphabet, Inc. - Class C(a)
    
23,437
      
3,323,367
  
AT&T, Inc.
    
33,639
      
595,074
  
Charter Communications, Inc. - Class A(a)
    
471
      
174,604
  
Comcast Corp. - Class A
    
18,891
      
879,187
  
Electronic Arts, Inc.
    
1,148
      
157,942
  
Fox Corp. - Class A
    
1,159
      
37,436
  
Fox Corp. - Class B
    
608
      
18,246
  
Interpublic Group of Cos., Inc.
    
1,799
      
59,349
  
Live Nation Entertainment, Inc.(a)
    
667
      
59,263
  
Match Group, Inc.(a)
    
1,269
      
48,704
  
Meta Platforms, Inc. - Class A(a)
    
10,439
      
4,072,670
  
Netflix, Inc.(a)
    
2,054
      
1,158,682
  
News Corp. - Class A
    
1,788
      
44,056
  
News Corp. - Class B
    
533
      
13,629
  
Omnicom Group, Inc.
    
928
      
83,873
  
Paramount Global - Class B
    
2,265
      
33,046
  
Take-Two Interactive Software, Inc.(a)
    
738
      
121,718
  
T-Mobile US, Inc.
    
2,383
      
384,211
  
Verizon Communications, Inc.
    
19,773
      
837,387
  
Walt Disney Co.
    
8,595
      
825,550
  
Warner Bros Discovery, Inc.(a)
    
10,437
      
104,579
  
             
16,933,798
  
                 
Consumer Discretionary - 8.8%
          
Airbnb, Inc. - Class A(a)
    
2,041
      
294,190
  
Amazon.com, Inc.(a)
    
42,780
      
6,639,455
  
Aptiv PLC(a)
    
1,330
      
108,169
  
AutoZone, Inc.(a)
    
77
      
212,684
  
Bath & Body Works, Inc.
    
1,059
      
45,177
  
Best Buy Co., Inc.
    
909
      
65,893
  
Booking Holdings, Inc.(a)
    
153
      
536,643
  
BorgWarner, Inc.
    
1,105
      
37,460
  
Caesars Entertainment, Inc.(a)
    
1,006
      
44,133
  
CarMax, Inc.(a)
    
741
      
52,744
  
Carnival Corp.(a)
    
4,734
      
78,490
  
Chipotle Mexican Grill, Inc.(a)
    
120
      
289,052
  
Darden Restaurants, Inc.
    
557
      
90,557
  
Domino's Pizza, Inc.
    
153
      
65,212
  
DR Horton, Inc.
    
1,411
      
201,646
  
eBay, Inc.
    
2,440
      
100,211
  
Etsy, Inc.(a)
    
555
      
36,941
  
Expedia Group, Inc.(a)
    
616
      
91,371
  
Ford Motor Co.
    
18,491
      
216,715
  
Garmin Ltd.
    
716
      
85,555
  
General Motors Co.
    
6,441
      
249,911
  
Genuine Parts Co.
    
647
      
90,729
  
Hasbro, Inc.
    
602
      
29,468
  
Hilton Worldwide Holdings, Inc.
    
1,199
      
228,961
  
Home Depot, Inc.
    
4,701
      
1,659,264
  
Las Vegas Sands Corp.
    
1,723
      
84,289
  
Lennar Corp. - Class A
    
1,172
      
175,624
  
LKQ Corp.
    
1,248
      
58,244
  
Lowe's Cos., Inc.
    
2,712
      
577,222
  
Lululemon Athletica, Inc.(a)
    
535
      
242,794
  
Marriott International, Inc.
    
1,156
      
277,128
  
McDonald's Corp.
    
3,407
      
997,297
  
MGM Resorts International
    
1,275
      
55,297
  
Mohawk Industries, Inc.(a)
    
247
      
25,750
  
Nike, Inc. - Class B
    
5,758
      
584,610
  
Norwegian Cruise Line Holdings Ltd.(a)
    
2,000
      
35,600
  
NVR, Inc.(a)
    
14
      
99,054
  
O'Reilly Automotive, Inc.(a)
    
274
      
280,316
  
Pool Corp.
    
170
      
63,113
  
PulteGroup, Inc.
    
1,005
      
105,083
  
Ralph Lauren Corp.
    
174
      
24,999
  
Ross Stores, Inc.
    
1,590
      
223,045
  
Royal Caribbean Cruises Ltd.(a)
    
1,108
      
141,269
  
Starbucks Corp.
    
5,371
      
499,664
  
Tapestry, Inc.
    
1,067
      
41,389
  
Tesla Motors, Inc.(a)
    
13,000
      
2,434,769
  
TJX Cos., Inc.
    
5,377
      
510,331
  
Tractor Supply Co.
    
504
      
113,198
  
Ulta Beauty, Inc.(a)
    
231
      
115,974
  
VF Corp.
    
1,554
      
25,579
  
Whirlpool Corp.
    
255
      
27,928
  
Wynn Resorts Ltd.
    
451
      
42,588
  
Yum! Brands, Inc.
    
1,306
      
169,114
  
             
19,581,899
  
                 
Consumer Staples - 5.2%
          
Altria Group, Inc.
    
8,312
      
333,477
  
Archer-Daniels-Midland Co.
    
2,503
      
139,117
  
Brown-Forman Corp. - Class B
    
849
      
46,610
  
Bunge Global SA
    
682
      
60,077
  
Campbell Soup Co.
    
921
      
41,104
  
Church & Dwight Co., Inc.
    
1,155
      
115,327
  
Clorox Co.
    
574
      
83,374
  
Coca-Cola Co.
    
18,296
      
1,088,429
  
Colgate-Palmolive Co.
    
3,867
      
325,601
  
Conagra Brands, Inc.
    
2,245
      
65,442
  
Constellation Brands, Inc. - Class A
    
754
      
184,790
  
Costco Wholesale Corp.
    
2,076
      
1,442,571
  
Dollar General Corp.
    
1,022
      
134,976
  
Dollar Tree, Inc.(a)
    
976
      
127,485
  
Estee Lauder Cos., Inc.
    
1,080
      
142,549
  
General Mills, Inc.
    
2,730
      
177,204
  
Hershey Co.
    
702
      
135,865
  
Hormel Foods Corp.
    
1,360
      
41,303
  
J M Smucker Co.
    
495
      
65,117
  
Kellanova
    
1,231
      
67,410
  
Kenvue, Inc.
    
8,100
      
168,156
  
Keurig Dr Pepper, Inc.
    
4,731
      
148,743
  
Kimberly-Clark Corp.
    
1,586
      
191,858
  
Kroger Co.
    
3,111
      
143,542
  
Lamb Weston Holdings, Inc.
    
680
      
69,659
  
McCormick & Co., Inc.
    
1,177
      
80,224
  
Molson Coors Beverage Co. - Class B
    
859
      
53,078
  
Mondelez International, Inc.
    
6,388
      
480,825
  
Monster Beverage Corp.(a)
    
3,465
      
190,644
  
PepsiCo, Inc.
    
6,464
      
1,089,378
  
Philip Morris International, Inc.
    
7,303
      
663,478
  
Procter & Gamble Co.
    
11,086
      
1,742,053
  
Sysco Corp.
    
2,362
      
191,157
  
Target Corp.
    
2,161
      
300,552
  
The Kraft Heinz Co.
    
3,737
      
138,755
  
Tyson Foods, Inc. - Class A
    
1,340
      
73,378
  
Walgreens Boots Alliance, Inc.
    
3,370
      
76,061
  
Walmart, Inc.
    
6,706
      
1,108,167
  
             
11,727,536
  
                 
Energy - 3.2%
          
APA Corp.
    
1,435
      
44,959
  
Baker Hughes Co.
    
4,728
      
134,748
  
Chevron Corp.
    
8,255
      
1,217,035
  
ConocoPhillips
    
5,582
      
624,458
  
Coterra Energy, Inc.
    
3,537
      
88,001
  
Devon Energy Corp.
    
3,006
      
126,312
  
Diamondback Energy, Inc.
    
830
      
127,604
  
EOG Resources, Inc.
    
2,738
      
311,557
  
EQT Corp.
    
1,923
      
68,074
  
Exxon Mobil Corp.
    
18,843
      
1,937,248
  
Halliburton Co.
    
4,211
      
150,122
  
Hess Corp.
    
1,289
      
181,143
  
Kinder Morgan, Inc.
    
9,097
      
153,921
  
Marathon Oil Corp.
    
2,748
      
62,792
  
Marathon Petroleum Corp.
    
1,785
      
295,596
  
Occidental Petroleum Corp.
    
3,105
      
178,755
  
ONEOK, Inc.
    
2,730
      
186,323
  
Phillips 66
    
2,064
      
297,856
  
Pioneer Natural Resources Co.
    
1,085
      
249,366
  
Schlumberger Ltd.
    
6,714
      
326,972
  
Targa Resources Corp.
    
1,039
      
88,273
  
Valero Energy Corp.
    
1,597
      
221,823
  
Williams Cos., Inc.
    
5,712
      
197,978
  
             
7,270,916
  
                 
Financials - 11.3%
          
Aflac, Inc.
    
2,498
      
210,681
  
Allstate Corp.
    
1,222
      
189,716
  
American Express Co.
    
2,706
      
543,202
  
American International Group, Inc.
    
3,290
      
228,688
  
Ameriprise Financial, Inc.
    
474
      
183,357
  
Aon PLC
    
938
      
279,927
  
Arch Capital Group Ltd.(a)
    
1,743
      
143,675
  
Arthur J Gallagher & Co.
    
1,006
      
233,553
  
Assurant, Inc.
    
246
      
41,316
  
Bank of America Corp.
    
32,389
      
1,101,550
  
Bank of New York Mellon Corp.
    
3,614
      
200,432
  
Berkshire Hathaway, Inc. - Class B(a)
    
8,550
      
3,280,978
  
BlackRock, Inc.
    
645
      
499,430
  
Blackstone, Inc.
    
3,340
      
415,663
  
Brown & Brown, Inc.
    
1,111
      
86,169
  
Capital One Financial Corp.
    
1,790
      
242,223
  
Cboe Global Markets, Inc.
    
493
      
90,638
  
Charles Schwab Corp.
    
6,993
      
440,000
  
Chubb Ltd.
    
1,911
      
468,196
  
Cincinnati Financial Corp.
    
733
      
81,216
  
Citigroup, Inc.
    
8,996
      
505,305
  
Citizens Financial Group, Inc.
    
2,181
      
71,319
  
CME Group, Inc.
    
1,685
      
346,840
  
Comerica, Inc.
    
608
      
31,969
  
Discover Financial Services
    
1,171
      
123,564
  
Everest Group Ltd.
    
190
      
73,144
  
FactSet Research Systems, Inc.
    
167
      
79,479
  
Fidelity National Information Services, Inc.
    
2,779
      
173,021
  
Fifth Third Bancorp
    
3,197
      
109,465
  
Fiserv, Inc.(a)
    
2,813
      
399,080
  
FleetCor Technologies, Inc.(a)
    
332
      
96,257
  
Franklin Resources, Inc.
    
1,326
      
35,311
  
Global Payments, Inc.
    
1,217
      
162,141
  
Globe Life, Inc.
    
390
      
47,900
  
Goldman Sachs Group, Inc.
    
1,522
      
584,463
  
Hartford Financial Services Group, Inc.
    
1,409
      
122,527
  
Huntington Bancshares, Inc.
    
6,802
      
86,589
  
Intercontinental Exchange, Inc.
    
2,689
      
342,390
  
Invesco Ltd.
    
2,108
      
33,370
  
Jack Henry & Associates, Inc.
    
334
      
55,387
  
JPMorgan Chase & Co.
    
13,595
      
2,370,424
  
KeyCorp.
    
4,391
      
63,801
  
Loews Corp.
    
850
      
61,931
  
M&T Bank Corp.
    
773
      
106,751
  
MarketAxess Holdings, Inc.
    
166
      
37,435
  
Marsh & McLennan Cos., Inc.
    
2,314
      
448,546
  
Mastercard, Inc. - Class A
    
3,887
      
1,746,157
  
MetLife, Inc.
    
2,923
      
202,622
  
Moody's Corp.
    
735
      
288,149
  
Morgan Stanley
    
5,934
      
517,682
  
MSCI, Inc.
    
362
      
216,700
  
Nasdaq, Inc.
    
1,597
      
92,259
  
Northern Trust Corp.
    
968
      
77,092
  
PayPal Holdings, Inc.(a)
    
5,060
      
310,431
  
PNC Financial Services Group, Inc.
    
1,866
      
282,158
  
Principal Financial Group, Inc.
    
1,022
      
80,840
  
Progressive Corp.
    
2,747
      
489,653
  
Prudential Financial, Inc.
    
1,690
      
177,332
  
Raymond James Financial, Inc.
    
884
      
97,399
  
Regions Financial Corp.
    
4,364
      
81,476
  
S&P Global, Inc.
    
1,512
      
677,905
  
Signature Bank(a)
    
150
      
225
  
State Street Corp.
    
1,445
      
106,742
  
SVB Financial Group(a)
    
141
      
10
  
Synchrony Financial
    
1,936
      
75,252
  
T Rowe Price Group, Inc.
    
1,042
      
113,005
  
Travelers Cos., Inc.
    
1,063
      
224,676
  
Truist Financial Corp.
    
6,269
      
232,329
  
US Bancorp
    
7,323
      
304,197
  
Visa, Inc. - Class A
    
7,487
      
2,045,898
  
W R Berkley Corp.
    
953
      
78,032
  
Wells Fargo & Co.
    
17,084
      
857,275
  
Willis Towers Watson PLC
    
483
      
118,963
  
Zions Bancorp
    
694
      
29,079
  
             
25,052,557
  
                 
Health Care - 10.9%
          
Abbott Laboratories
    
8,152
      
922,399
  
AbbVie, Inc.
    
8,299
      
1,364,356
  
Agilent Technologies, Inc.
    
1,373
      
178,627
  
Align Technology, Inc.(a)
    
327
      
87,414
  
Amgen, Inc.
    
2,511
      
789,107
  
Baxter International, Inc.
    
2,376
      
91,927
  
Becton Dickinson & Co.
    
1,362
      
325,259
  
Biogen, Inc.(a)
    
680
      
167,729
  
Bio-Rad Laboratories, Inc. - Class A(a)
    
92
      
29,522
  
Bio-Techne Corp.
    
738
      
51,896
  
Boston Scientific Corp.(a)
    
6,886
      
435,608
  
Bristol-Myers Squibb Co.
    
9,571
      
467,735
  
Cardinal Health, Inc.
    
1,155
      
126,114
  
Catalent, Inc.(a)
    
837
      
43,223
  
Cencora, Inc.
    
776
      
180,560
  
Centene Corp.(a)
    
2,509
      
188,953
  
Charles River Laboratories International, Inc.(a)
    
240
      
51,907
  
Cigna Corp.
    
1,373
      
413,204
  
Cooper Cos., Inc.
    
232
      
86,543
  
CVS Health Corp.
    
6,038
      
449,046
  
Danaher Corp.
    
3,080
      
738,923
  
DaVita, Inc.(a)
    
251
      
27,148
  
Dentsply Sirona, Inc.
    
989
      
34,368
  
DexCom, Inc.(a)
    
1,814
      
220,129
  
Edwards Lifesciences Corp.(a)
    
2,841
      
222,933
  
Elevance Health, Inc.
    
1,105
      
545,251
  
Eli Lilly & Co.
    
3,738
      
2,413,289
  
GE HealthCare Technologies, Inc.
    
1,836
      
134,689
  
Gilead Sciences, Inc.
    
5,854
      
458,134
  
HCA Healthcare, Inc.
    
928
      
282,947
  
Henry Schein, Inc.(a)
    
602
      
45,054
  
Hologic, Inc.(a)
    
1,149
      
85,532
  
Humana, Inc.
    
570
      
215,494
  
IDEXX Laboratories, Inc.(a)
    
379
      
195,215
  
Illumina, Inc.(a)
    
741
      
105,970
  
Incyte Corp.(a)
    
862
      
50,660
  
Insulet Corp.(a)
    
321
      
61,269
  
Intuitive Surgical, Inc.(a)
    
1,648
      
623,307
  
IQVIA Holdings, Inc.(a)
    
850
      
176,996
  
Johnson & Johnson
    
11,322
      
1,799,066
  
Laboratory Corp. of America Holdings
    
387
      
86,030
  
McKesson Corp.
    
615
      
307,432
  
Medtronic PLC
    
6,255
      
547,563
  
Merck & Co., Inc.
    
11,910
      
1,438,490
  
Mettler-Toledo International, Inc.(a)
    
95
      
113,733
  
Moderna, Inc.(a)
    
1,559
      
157,537
  
Molina Healthcare, Inc.(a)
    
271
      
96,595
  
Pfizer, Inc.
    
26,565
      
719,380
  
Quest Diagnostics, Inc.
    
523
      
67,169
  
Regeneron Pharmaceuticals, Inc.(a)
    
500
      
471,390
  
ResMed, Inc.
    
690
      
131,238
  
Revvity, Inc.
    
571
      
61,200
  
STERIS PLC
    
463
      
101,374
  
Stryker Corp.
    
1,587
      
532,407
  
Teleflex, Inc.
    
221
      
53,665
  
Thermo Fisher Scientific, Inc.
    
1,814
      
977,710
  
UnitedHealth Group, Inc.
    
4,342
      
2,221,975
  
Universal Health Services, Inc. - Class B
    
282
      
44,784
  
Vertex Pharmaceuticals, Inc.(a)
    
1,205
      
522,223
  
Viatris, Inc.
    
5,636
      
66,336
  
Waters Corp.(a)
    
274
      
87,053
  
West Pharmaceutical Services, Inc.
    
339
      
126,457
  
Zimmer Biomet Holdings, Inc.
    
976
      
122,586
  
Zoetis, Inc.
    
2,150
      
403,792
  
             
24,345,622
  
                 
Industrials - 7.4%
          
3M Co.
    
2,588
      
244,178
  
A O Smith Corp.
    
568
      
44,082
  
Allegion PLC
    
400
      
49,556
  
American Airlines Group, Inc.(a)
    
3,062
      
43,572
  
AMETEK, Inc.
    
1,074
      
174,042
  
Automatic Data Processing, Inc.
    
1,925
      
473,127
  
Axon Enterprise, Inc.(a)
    
324
      
80,695
  
Boeing Co.(a)
    
2,673
      
564,110
  
Broadridge Financial Solutions, Inc.
    
546
      
111,493
  
Builders FirstSource, Inc.(a)
    
567
      
98,505
  
Carrier Global Corp.
    
3,935
      
215,284
  
Caterpillar, Inc.
    
2,388
      
717,140
  
Ceridian HCM Holding, Inc.(a)
    
729
      
50,680
  
CH Robinson Worldwide, Inc.
    
541
      
45,493
  
Cintas Corp.
    
395
      
238,805
  
Copart, Inc.(a)
    
4,102
      
197,060
  
CSX Corp.
    
9,297
      
331,903
  
Cummins, Inc.
    
666
      
159,374
  
Deere & Co.
    
1,251
      
492,369
  
Delta Air Lines, Inc.
    
3,018
      
118,125
  
Dover Corp.
    
645
      
96,608
  
Eaton Corp. PLC
    
1,870
      
460,170
  
Emerson Electric Co.
    
2,679
      
245,745
  
Equifax, Inc.
    
570
      
139,274
  
Expeditors International of Washington, Inc.
    
682
      
86,157
  
Fastenal Co.
    
2,685
      
183,198
  
FedEx Corp.
    
1,076
      
259,628
  
Fortive Corp.
    
1,646
      
128,684
  
Generac Holdings, Inc.(a)
    
284
      
32,282
  
General Dynamics Corp.
    
1,055
      
279,564
  
General Electric Co.
    
5,118
      
677,726
  
Honeywell International, Inc.
    
3,100
      
627,006
  
Howmet Aerospace, Inc.
    
1,835
      
103,237
  
Hubbell, Inc.
    
250
      
83,893
  
Huntington Ingalls Industries, Inc.
    
174
      
45,052
  
IDEX Corp.
    
347
      
73,391
  
Illinois Tool Works, Inc.
    
1,277
      
333,169
  
Ingersoll Rand, Inc.
    
1,897
      
151,494
  
Jacobs Solutions, Inc.
    
582
      
78,436
  
JB Hunt Trasport Services, Inc.
    
372
      
74,765
  
Johnson Controls International PLC
    
3,194
      
168,292
  
L3Harris Technologies, Inc.
    
891
      
185,702
  
Leidos Holdings, Inc.
    
635
      
70,148
  
Lockheed Martin Corp.
    
1,030
      
442,292
  
Masco Corp.
    
1,046
      
70,385
  
Nordson Corp.
    
252
      
63,433
  
Norfolk Southern Corp.
    
1,053
      
247,708
  
Northrop Grumman Corp.
    
666
      
297,542
  
Old Dominion Freight Line, Inc.
    
409
      
159,927
  
Otis Worldwide Corp.
    
1,916
      
169,451
  
PACCAR, Inc.
    
2,458
      
246,759
  
Parker-Hannifin Corp.
    
593
      
275,449
  
Paychex, Inc.
    
1,501
      
182,717
  
Paycom Software, Inc.
    
230
      
43,755
  
Pentair PLC
    
770
      
56,341
  
Quanta Services, Inc.
    
682
      
132,342
  
Republic Services, Inc.
    
957
      
163,762
  
Robert Half, Inc.
    
494
      
39,293
  
Rockwell Automation, Inc.
    
533
      
134,998
  
Rollins, Inc.
    
1,306
      
56,563
  
RTX Corp.
    
6,758
      
615,789
  
Snap-On, Inc.
    
246
      
71,323
  
Southwest Airlines Co.
    
2,795
      
83,543
  
Stanley Black & Decker, Inc.
    
717
      
66,896
  
Textron, Inc.
    
919
      
77,848
  
Trane Technologies PLC
    
1,063
      
267,929
  
TransDigm Group, Inc.
    
257
      
280,819
  
Uber Technologies, Inc.(a)
    
9,580
      
625,287
  
Union Pacific Corp.
    
2,854
      
696,176
  
United Airlines Holdings, Inc.(a)
    
1,530
      
63,311
  
United Parcel Service, Inc. - Class B
    
3,398
      
482,176
  
United Rentals, Inc.
    
312
      
195,125
  
Veralto Corp.
    
1,021
      
78,300
  
Verisk Analytics, Inc.
    
681
      
164,482
  
W.W. Grainger, Inc.
    
194
      
173,754
  
Waste Management, Inc.
    
1,714
      
318,170
  
Westinghouse Air Brake Technologies Corp.
    
832
      
109,466
  
Xylem, Inc.
    
1,132
      
127,282
  
             
16,313,607
  
                 
Information Technology - 25.4%
          
Accenture PLC - Class A
    
2,948
      
1,072,717
  
Adobe, Inc.(a)
    
2,133
      
1,317,725
  
Advanced Micro Devices, Inc.(a)
    
7,597
      
1,273,941
  
Akamai Technologies, Inc.(a)
    
706
      
87,000
  
Amphenol Corp.
    
2,805
      
283,586
  
Analog Devices, Inc.
    
2,337
      
449,545
  
ANSYS, Inc.(a)
    
395
      
129,493
  
Apple, Inc.
    
68,789
      
12,684,693
  
Applied Materials, Inc.
    
3,924
      
644,713
  
Arista Networks, Inc.(a)
    
1,180
      
305,242
  
Autodesk, Inc.(a)
    
997
      
253,049
  
Broadcom, Inc.
    
2,059
      
2,429,620
  
Cadence Design System, Inc.(a)
    
1,270
      
366,344
  
CDW Corp.
    
617
      
139,886
  
Cisco Systems, Inc.
    
19,057
      
956,280
  
Cognizant Technology Solutions Corp.
    
2,350
      
181,232
  
Corning, Inc.
    
3,608
      
117,224
  
Enphase Energy, Inc.(a)
    
631
      
65,706
  
EPAM Systems, Inc.(a)
    
268
      
74,533
  
F5, Inc.(a)
    
277
      
50,885
  
Fair Isaac Corp.(a)
    
108
      
129,474
  
First Solar, Inc.(a)
    
498
      
72,857
  
Fortinet, Inc.(a)
    
2,991
      
192,890
  
Gartner, Inc.(a)
    
357
      
163,306
  
Gen Digital, Inc.
    
2,652
      
62,269
  
Hewlett Packard Enterprise Co.
    
6,031
      
92,214
  
HP, Inc.
    
4,085
      
117,280
  
Intel Corp.
    
19,825
      
854,061
  
International Business Machines Corp.
    
4,290
      
787,901
  
Intuit, Inc.
    
1,306
      
824,517
  
Jabil, Inc.
    
587
      
73,545
  
Juniper Networks, Inc.
    
1,490
      
55,070
  
Keysight Technologies, Inc.(a)
    
823
      
126,133
  
KLA Corp.
    
628
      
373,057
  
Lam Research Corp.
    
608
      
501,703
  
Microchip Technology, Inc.
    
2,539
      
216,272
  
Micron Technology, Inc.
    
5,161
      
442,556
  
Microsoft Corp.
    
34,968
      
13,902,578
  
Monolithic Power Systems, Inc.
    
225
      
135,612
  
Motorola Solutions, Inc.
    
773
      
246,974
  
NetApp, Inc.
    
975
      
85,020
  
NVIDIA Corp.
    
11,614
      
7,145,747
  
NXP Semiconductors NV
    
1,205
      
253,737
  
ON Semiconductor Corp.(a)
    
2,023
      
143,896
  
Oracle Corp.
    
7,464
      
833,729
  
Palo Alto Networks, Inc.(a)
    
1,453
      
491,855
  
PTC, Inc.(a)
    
551
      
99,538
  
Qorvo, Inc.(a)
    
457
      
45,581
  
QUALCOMM, Inc.
    
5,226
      
776,113
  
Roper Technologies, Inc.
    
498
      
267,426
  
salesforce.com, Inc.(a)
    
4,567
      
1,283,738
  
Seagate Technology Holdings PLC
    
913
      
78,226
  
ServiceNow, Inc.(a)
    
959
      
734,019
  
Skyworks Solutions, Inc.
    
744
      
77,718
  
Synopsys, Inc.(a)
    
712
      
379,745
  
TE Connectivity Ltd.
    
1,454
      
206,744
  
Teledyne Technologies, Inc.(a)
    
222
      
92,900
  
Teradyne, Inc.
    
715
      
69,062
  
Texas Instruments, Inc.
    
4,268
      
683,392
  
Trimble, Inc.(a)
    
1,166
      
59,303
  
Tyler Technologies, Inc.(a)
    
184
      
77,786
  
VeriSign, Inc.(a)
    
406
      
80,745
  
Western Digital Corp.(a)
    
1,513
      
86,619
  
Zebra Technologies Corp.(a)
    
240
      
57,492
  
             
56,363,814
  
                 
Materials - 2.0%
          
Air Products & Chemicals, Inc.
    
1,034
      
264,404
  
Albemarle Corp.
    
544
      
62,419
  
Amcor PLC
    
6,790
      
64,030
  
Avery Dennison Corp.
    
368
      
73,398
  
Ball Corp.
    
1,474
      
81,733
  
Celanese Corp.
    
469
      
68,610
  
CF Industries Holdings, Inc.
    
898
      
67,808
  
Corteva, Inc.
    
3,301
      
150,129
  
Dow, Inc.
    
3,287
      
176,183
  
DuPont de Nemours, Inc.
    
2,022
      
124,960
  
Eastman Chemical Co.
    
550
      
45,953
  
Ecolab, Inc.
    
1,188
      
235,485
  
FMC Corp.
    
577
      
32,427
  
Freeport-McMoRan, Inc.
    
6,740
      
267,511
  
International Flavors & Fragrances, Inc.
    
1,194
      
96,332
  
International Paper Co.
    
1,622
      
58,116
  
Linde PLC
    
2,276
      
921,393
  
LyondellBasell Industries NV
    
1,198
      
112,756
  
Martin Marietta Materials, Inc.
    
286
      
145,408
  
Mosaic Co.
    
1,525
      
46,833
  
Newmont Goldcorp Corp.
    
5,398
      
186,285
  
Nucor Corp.
    
1,153
      
215,530
  
Packaging Corp. of America
    
410
      
68,011
  
PPG Industries, Inc.
    
1,109
      
156,413
  
Sherwin-Williams Co.
    
1,107
      
336,949
  
Steel Dynamics, Inc.
    
712
      
85,931
  
Vulcan Materials Co.
    
612
      
138,318
  
Westrock Co.
    
1,199
      
48,272
  
             
4,331,597
  
                 
Real Estate - 0.1%
          
CBRE Group, Inc.(a)
    
1,426
      
123,078
  
CoStar Group, Inc.(a)
    
1,912
      
159,614
  
             
282,692
  
                 
Utilities - 1.9%
          
AES Corp.
    
3,146
      
52,475
  
Alliant Energy Corp.
    
1,194
      
58,100
  
Ameren Corp.
    
1,228
      
85,432
  
American Electric Power Co., Inc.
    
2,470
      
193,006
  
American Water Works Co., Inc.
    
914
      
113,354
  
Atmos Energy Corp.
    
696
      
79,302
  
CenterPoint Energy, Inc.
    
2,964
      
82,814
  
CMS Energy Corp.
    
1,369
      
78,252
  
Consolidated Edison, Inc.
    
1,618
      
147,076
  
Constellation Energy Corp.
    
1,492
      
182,024
  
Dominion Energy, Inc.
    
3,925
      
179,451
  
DTE Energy Co.
    
964
      
101,625
  
Duke Energy Corp.
    
3,621
      
347,000
  
Edison International
    
1,800
      
121,464
  
Entergy Corp.
    
987
      
98,463
  
Evergy, Inc.
    
1,069
      
54,273
  
Eversource Energy
    
1,636
      
88,704
  
Exelon Corp.
    
4,681
      
162,946
  
FirstEnergy Corp.
    
2,416
      
88,619
  
NextEra Energy, Inc.
    
9,643
      
565,369
  
NiSource, Inc.
    
1,934
      
50,226
  
NRG Energy, Inc.
    
1,052
      
55,798
  
PG&E Corp.
    
10,030
      
169,206
  
Pinnacle West Capital Corp.
    
527
      
36,310
  
PPL Corp.
    
3,458
      
90,600
  
Public Service Enterprise Group, Inc.
    
2,337
      
135,523
  
Sempra
    
2,956
      
211,531
  
Southern Co.
    
5,128
      
356,499
  
WEC Energy Group, Inc.
    
1,475
      
119,121
  
Xcel Energy, Inc.
    
2,586
      
154,824
  
             
4,259,387
  
TOTAL COMMON STOCKS (Cost $163,928,407)
      
186,463,425
  
                 
U.S. TREASURY OBLIGATIONS - 9.3%
  
Par
          
United States Treasury Note/Bond
  
1.50%, 02/29/2024
    
6,500,000
      
6,480,441
  
0.38%, 09/15/2024
    
4,000,000
      
3,887,617
  
1.75%, 03/15/2025
    
5,500,000
      
5,330,059
  
4.63%, 03/15/2026
    
5,000,000
      
5,043,359
  
TOTAL U.S. TREASURY OBLIGATIONS (Cost $20,722,704)
      
20,741,476
  
                 
REAL ESTATE INVESTMENT TRUSTS - 1.9%
  
Shares
          
Alexandria Real Estate Equities, Inc.
    
731
      
88,378
  
American Tower Corp.
    
2,181
      
426,713
  
AvalonBay Communities, Inc.
    
668
      
119,579
  
Boston Properties, Inc.
    
678
      
45,087
  
Camden Property Trust
    
498
      
46,732
  
Crown Castle, Inc.
    
2,038
      
220,614
  
Digital Realty Trust, Inc.
    
1,418
      
199,172
  
Equinix, Inc.
    
442
      
366,758
  
Equity Residential
    
1,620
      
97,508
  
Essex Property Trust, Inc.
    
296
      
69,048
  
Extra Space Storage, Inc.
    
986
      
142,418
  
Federal Realty Investment Trust
    
337
      
34,283
  
Healthpeak Properties, Inc.
    
2,565
      
47,453
  
Host Hotels & Resorts, Inc.
    
3,318
      
63,772
  
Invitation Homes, Inc.
    
2,702
      
88,977
  
Iron Mountain, Inc.
    
1,370
      
92,502
  
Kimco Realty Corp.
    
2,912
      
58,822
  
Mid-America Apartment Communities, Inc.
    
542
      
68,498
  
Prologis, Inc.
    
4,338
      
549,580
  
Public Storage
    
739
      
209,277
  
Realty Income Corp.
    
3,399
      
184,872
  
Regency Centers Corp.
    
765
      
47,943
  
SBA Communications Corp.
    
503
      
112,602
  
Simon Property Group, Inc.
    
1,522
      
210,964
  
UDR, Inc.
    
1,417
      
51,040
  
Ventas, Inc.
    
1,884
      
87,399
  
VICI Properties, Inc.
    
4,865
      
146,534
  
Welltower, Inc.
    
2,591
      
224,147
  
Weyerhaeuser Co.
    
3,427
      
112,303
  
TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $4,355,646)
      
4,212,975
  
                 
SHORT-TERM INVESTMENTS - 2.0%
                
U.S. Treasury Bills - 2.0%
  
Par
          
  5.43%, 03/07/2024(b)
    
4,500,000
      
4,476,979
  
TOTAL SHORT-TERM INVESTMENTS (Cost $4,476,771)
      
4,476,979
  
                 
TOTAL INVESTMENTS - 97.0% (Cost $193,483,528)
    
$
215,894,855
  
Other Assets in Excess of Liabilities – 3.0%
      
6,656,250
  
TOTAL NET ASSETS - 100.0%
          
$
222,551,105
  

Percentages are stated as a percent of net assets.
  

PLC - Public Limited Company
SA - Sociedad Anónima

(a)
Non-income producing security.
(b)
The rate shown is the effective yield.

The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor Financial Services LLC ("S&P").  GICS® is a service mark of MSCI, Inc. and S&P and has been licensed for use by the Fund's Administrator, U.S. Bancorp Fund Services, LLC.


 Schedule of Open Futures Contracts
January 31, 2024 (Unaudited)
Description
  
Number of
Contracts
  
Expiration Date
 
Notional Value
    
Value & Unrealized Appreciation (Depreciation)
  
S&P 500 Annual Dividend Futures Index
    
579
  
12/20/2024
  
$
10,335,150
    
$
670,870
  
S&P 500 Annual Dividend Futures Index
    
579
  
12/19/2025
    
10,400,288
      
936,227
  
S&P 500 Annual Dividend Futures Index
    
579
  
12/18/2026
    
10,284,487
      
70,777
  
 
        
 
          
$
1,677,874
  


Summary of Fair Value Disclosure at January 31, 2024 (Unaudited)

The following is a summary of significant accounting policies consistently followed by the Funds in the preparation of the financial statements. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). The Funds are investment companies that follow the accounting and reporting guidelines of Accounting Standards Codification Topic 946 applicable to investment companies.

Securities, including master limited partnerships ("MLPs"), listed on a securities exchange, market or automated quotation system for which quotations are readily available, are valued at the last quoted sale price on the primary exchange or market (foreign or domestic) on which they are traded, except for securities listed on Nasdaq Global Market (“Nasdaq”). If, on a particular day, there is no such reported sale, then the most recent quoted bid price will be used. For securities traded on Nasdaq, the Nasdaq Official Closing Price (“NOCP”) will be used. If a Fund holds foreign shares of a security for which there is no reported volume, and there is an actively trading local version of the security, the last quoted sale price of the local security shall be used. Prices denominated in foreign currencies are converted to U.S. dollar equivalents at the current exchange rate.

Investments in other open-end investment companies, including money market funds, are valued at the investment company’s net asset value per share, with the exception of exchange-traded open-end investment companies, which are priced as equity securities described above.

Fixed-income securities are normally valued on the basis of quotes obtained from independent pricing services in accordance with procedures adopted by the Board of Trustees. The independent pricing services may employ methodologies that utilize market transactions (if the security is actively traded), broker-dealer supplied valuations, or matrix pricing. Short-term securities that have maturities of less than 60 days, at the time of purchase, are valued at amortized cost, which, when combined with accrued interest, approximates market value.

Options on securities that are listed on an exchange shall be valued at the sale price on such exchange (or any other exchange on which such options are listed) having the trade closest to the close of the New York Stock Exchange (“NYSE”) on the day of valuation or, if there was no sale on any of the applicable options exchanges on such day, at the mean between the highest bid and lowest ask price on any of such exchanges on such day closest to the close of the NYSE on such day. On the last trading day prior to expiration, expiring options may be priced at intrinsic value.

Foreign currency forward contracts are valued at the current day’s interpolated foreign exchange rate, as calculated using the current day’s spot rate, and the twenty, sixty, ninety, and one-hundred eighty day forward rates provided by an independent source.

Futures contracts are valued at the settlement price on the exchange on which they are principally traded.

Units of Mount Vernon Liquid Assets Portfolio are not traded on an exchange and are valued at the investment company’s NAV per share as provided by its administrator.

Deposit accounts are valued at acquisition cost, which approximates fair value.

The Trust's Valuation Procedures provide for the designation of the Adviser as "Valuation Designee". If no quotation is available from either a pricing service, or one or more brokers or there is reason to question the reliability or accuracy of a quotation supplied, securities are valued at fair value as determined in good faith, by the Valuation Designee pursuant to procedures established by the Funds' Board of Trustees (the "Board").

As described above, the Funds utilize various methods to measure the fair value of their investments on a recurring basis. GAAP establishes a hierarchy that prioritizes inputs to valuations methods. The three levels of inputs are:

Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities that the Funds have the ability to access.

Level 2 – Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.

Level 3 – Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available; representing the Funds’ own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available.

The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3.

The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety, is determined based on the lowest level input that is significant to the fair value measurement in its entirety.

The following is a summary of the inputs used to value the Fund's investments as of January 31, 2024:

Description
Level 1
Level 2
Level 3
Investments
Measured at Net
Asset Value
Total
 Common Stocks
 $     186,463,425
 $                       -
 $           -
 $                 -
 $     186,463,425
 Real Estate Investment Trusts
          4,212,975
                     -
            -
                  -
          4,212,975
 U.S. Treasury Obligations
                       -
       20,741,476
            -
                  -
        20,741,476
 Short Term Investments
                       -
         4,476,979
            -
                  -
          4,476,979
 Total Investments in Securities
 $     190,676,400
 $      20,741,476
 $           -
 $                 -
 $     215,894,855
 
 
 
 
 
 
 Other Financial Instruments *
 
 
 
 
 
 Futures Contracts
 $         1,677,874
 $                      -
 $           -
 $                 -
 $         1,677,874
 Total
 $         1,677,874
 $                      -
 $           -
 $                 -
 $         1,677,874

* Other Financial Instruments are derivative instruments not reflected in the Schedule of Investments, such as future contracts which are reflected at the unrealized appreciation on the instruments.
 
Refer to the Schedule of Investments for industry classifications.