Investment Adviser Dumps Shares of Large-Cap ETF
Key Points
Sold 88,629 shares of the Pacer US Large Cap Cash Cows Growth Leaders ETF (NYSEMKT:COWG); estimated transaction value of $3.11 million based on quarterly average price.
Quarter-end position value fell by $3.18 million, reflecting both the share sale and price movement.
Stake reduction represented a 0.93% change in 13F reportable assets under management.
Post-trade holding: 43,032 shares valued at $1.45 million.
Position now represents 0.43% of AUM, which places it outside the fund's top five holdings.
- 10 stocks we like better than Pacer Funds Trust - Pacer Us Large Cap Cash Cows Growth Leaders ETF ›
On April 6, investment adviser Private Client Services, LLC disclosed in a U.S. Securities and Exchange Commission filing that it sold 88,629 shares of Pacer US Large Cap Cash Cows Growth Leaders ETF (NASDAQ:COWG), an estimated $3.11 million trade based on quarterly average pricing.
What happened
According to an SEC filing dated April 6, Private Client Services, LLC reduced its stake in Pacer US Large Cap Cash Cows Growth Leaders ETF (NASDAQ:COWG) by 88,629 shares. The estimated value of the shares sold was $3.11 million, based on the average closing price during the first quarter. The fund ended the quarter with 43,032 shares, valued at $1.45 million.
What else to know
- The fund trimmed its COWG holding, now representing 0.43% of 13F reportable AUM.
- Top holdings after the filing are:
- NYSEMKT: IVV: $35.64 million (10.7% of AUM).
- NYSEMKT: IEFA: $20.98 million (6.3% of AUM).
- NYSEMKT: VWO: $10.56 million (3.2% of AUM).
- NYSEMKT: IBHF: $9.60 million (2.9% of AUM).
- NYSEMKT: SPY: $8.90 million (2.7% of AUM).
- As of April 5, 2026, shares were priced at $34.00, down 8.3% from the 52-week high.
- One-year total return is 8.3%, lagging the S&P 500 by 7.73 percentage points.
- Annualized dividend yield stands at 0.34%.
ETF overview
| Metric | Value |
|---|---|
| AUM | $334,478,694 |
| Dividend Yield | 0.34% |
| Price (as of market close April 2, 2026) | $34.00 |
| 1-Year Total Return | 8.35% |
ETF snapshot
- Investment strategy focuses on identifying top growth companies in the Russell 1000 by screening for above-average free cash flow margins.
- Portfolio composition consists of large-cap U.S. equities with a bias toward companies demonstrating strong cash flow generation and growth leadership.
- Fund structure is an exchange-traded fund (ETF) with a transparent, rules-based methodology; expense ratio details are not provided.
Pacer US Large Cap Cash Cows Growth Leaders ETF (NASDAQ:COWG) is a strategy-driven ETF designed to capture growth opportunities among U.S. large-cap equities with superior free cash flow margins. The fund systematically selects and weights holdings based on financial quality and growth metrics, aiming to provide investors with exposure to companies demonstrating both profitability and leadership within their sector.
What this transaction means for investors
It is hard to read too much into this move, as the advisor has maintained an allocation to the ETF and has investments in several other large-cap ETFs, including two of the largest, the iShares Core S&P 500 ETF (NYSEMKT:IVV) and the State Street SPDR S&P 500 ETF (NYSEMKT:SPY). Both of these S&P 500 ETFs are in the firm’s top five holdings.
It is likely a move that reflects a decision to further diversify its assets beyond large caps, given that there is some redundancy with several large-cap ETFs already in the portfolio. Also, the S&P 500 remains overvalued, with a historically high valuation, so the investment advisor may be pursuing other opportunities to create more balance in the portfolio.
It should be noted that the investment adviser still has positions in a few other Pacer ETFs, including those that invest in international and emerging markets stocks. For the individual investor, certainly large-caps deserve a sizable place in a portfolio, but in markets like this, diversification is particularly important.
Should you buy stock in Pacer Funds Trust - Pacer Us Large Cap Cash Cows Growth Leaders ETF right now?
Before you buy stock in Pacer Funds Trust - Pacer Us Large Cap Cash Cows Growth Leaders ETF, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Pacer Funds Trust - Pacer Us Large Cap Cash Cows Growth Leaders ETF wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $532,929!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,091,848!*
Now, it’s worth noting Stock Advisor’s total average return is 928% — a market-crushing outperformance compared to 186% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
See the 10 stocks »
*Stock Advisor returns as of April 8, 2026.
Dave Kovaleski has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Vanguard FTSE Emerging Markets ETF and is short shares of Vanguard FTSE Emerging Markets ETF. The Motley Fool has a disclosure policy.
Recommended Articles
