Mason Buys Over $3 Million of COWG

On Feb. 5, 2026, Mason & Associates Inc. disclosed it purchased 104,308 additional shares of the Pacer U.S. Large Cap Cash Cows Growth Leaders ETF (NASDAQ:COWG).

What happened

According to a U.S. Securities and Exchange Commission (SEC) filing dated Feb. 5, 2026, Mason & Associates Inc. increased its holding in COWG by 104,308 shares during the fourth quarter. The fund’s quarter-end position value in COWG rose by $3.5 million, a figure that also reflects share price changes. Mason’s stake in COWG had a market value of $8.8 million at the end of the quarter, as reported in its 13F.

What else to know

• Mason & Associates Inc. increased its COWG stake, which now represents 1.7% of the fund’s reported AUM in its 13F.
• Top holdings after the filing:
  • NYSEMKT: IWB: $62.2 million (11.7% of AUM)
  • NYSEMKT: RECS: $42.2 million (7.9% of AUM)
  • NYSEMKT: DFUS: $37.7 million (7.1% of AUM)
  • NYSEMKT: AVDE: $21.6 million (4.1% of AUM)
  • NYSEMKT: HFXI: $20.4 million (3.9% of AUM)
• As of Feb. 4, 2026, COWG shares were priced at $34.41, unchanged over the past year, underperforming the S&P 500 by 15.5 percentage points.

ETF overview

ETF snapshot

• Employs a rules-based investment strategy targeting U.S. large-cap companies with above-average free cash flow margins, aiming to provide exposure to high-quality growth leaders.
• The portfolio consists primarily of large-cap equities traded in the United States, with a non-diversified structure focused on companies with strong cash flow characteristics.
• Operates as an exchange-traded fund (ETF) with a transparent structure, designed for investors seeking growth with a disciplined selection methodology.

Pacer U.S. Large Cap Cash Cows Growth Leaders ETF (COWG) is a U.S.-listed ETF with net assets of $2.3 billion, offering exposure to large-cap companies that excel in generating free cash flow. The fund follows a systematic approach to select holdings, emphasizing financial quality and growth potential among U.S. equities. With its targeted strategy and transparent structure, COWG appeals to institutional and individual investors seeking efficient access to high-quality large-cap growth stocks.

What this transaction means for investors

Mason holds many low-cost ETFs for clients. While COWG is not one of the firm’s top five holdings, it significantly increased its stake in the quarter.

COWG aims to offer a simple way for investors to access quality growth companies. It screens for highly profitable companies in the Russell 1000 index based on free cash flow margin. This appears to be a solid ETF for investors seeking a diversified portfolio of some of the most profitable businesses.

After three years of a strong bull market, buying more shares of COWG is a way to maintain exposure to high-quality, profitable growth stocks while controlling risk.

COWG doesn’t have a long record, having only started in December 2022. Although it has underperformed the S&P 500, it’s not that far behind over the last three years, rising 76% since inception, compared to 88% for the index. However, the jury is still out on whether COWG’s strategy is superior to just sticking with an S&P 500 index fund over multiple bull and bear cycles.

John Ballard has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.