[Shred] [Battacor]

S Tier Build

Usual Bleed build for primaries with high CC+CD.

I prefer to run [Primed Shred] on last mod. The fact that the weapon has a high rate of fire and projectile means you tend to waste ammo on bodies if you don't run any punch through.
Use alternative fire when available for higher damage and AoE.

Alternatives

On the same theme there are a couple of options that you can consider, specially on open maps where mobs don't line up reducing effectiveness of punch through.

Faction Prime Mods / Bladed Rounds - both allow for higher damage bleed procs.
Argon Scope / Vigilante Armaments - weaker options that don't deal as much damage but allow you to proc bleed more often

Before Full Build

While your weapon doesn't have enough formas for the the full build or if you're missing a particular mod you can make some adaptations.

No Exilus - this is the least important mod slot
Rime Rounds - instead of Primed Cryo Rounds
Shred / Bladed Rounds / Argon Scope / Vigilante Armaments - instead of [Primed Shred]

Depending on the options on these 3 slots you can go from 37 capacity to close to 21, while keeping the feeling the same.
If you still don't have [Primed Shred] I advise you to pick it on your next daily reward that you have it available, imo it's the most useful Prime mod from the offers, the others aren't needed in any build and you can pick them later.

Have Fun.

Updated:
added Primary Merciless,
swapped [Split Chamber] for [Galvanized Chamber],
swapped [Point Strike] for [Critical Delay] (no need to forma just swap locations as above)