Pacer US Small Cap Cash Cows 100

CALF • BATS

Pacer US Small Cap Cash Cows 100 is an exchange-traded fund on BATS. As of Q3 2025, 396 institutional investors hold shares in this ETF, with total holdings valued at $2.4B. BANK OF AMERICA CORP /DE/ is the largest holder with a position valued at $583.2M.

Overview

Overview of institutional ownership in CALF as of Q3 2025

All Institutions

Institutions: 396
Value Held: $2.4B
Shares Held: 55.9M
Avg Position: $6.2M
Median Position: $483.5K

Hedge Funds

Hedge Funds: 7
Value Held: $8.0M
Shares Held: 182.7K
Avg Position: $1.1M
Median Position: $503.5K

Biggest Investors

Institutions with the largest positions in CALF as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
BANK OF AMERICA CORP /DE/ Institution	Brian T. Moynihan CEO	$583.2M 0.04% of portfolio	13.3M shares	Q3 2017 Held for 8y 2m	$1.33T
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$229.5M 0.01% of portfolio	5.2M shares	Q4 2019 Held for 5y 11m	$1.65T
L LPL Financial LLC Institution	-	$171.3M 0.05% of portfolio	3.9M shares	Q2 2018 Held for 7y 5m	$340.07B
RAYMOND JAMES FINANCIAL INC RIA/Wealth	Steven Robert Marcus CEO	$120.2M 0.04% of portfolio	2.7M shares	Q4 2024 Held for 11 months	$310.43B
WELLS FARGO & COMPANY/MN Institution	Charles W. Scharf CEO	$102.1M 0.02% of portfolio	2.3M shares	Q3 2018 Held for 7y 2m	$488.61B
Cetera Investment Advisers RIA/Wealth	Joseph Daniel Neary CEO	$93.4M 0.11% of portfolio	2.1M shares	Q3 2021 Held for 4y 2m	$85.4B
N NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Institution	-	$75.4M 0.05% of portfolio	1.7M shares	Q2 2021 Held for 4y 5m	$149.83B
ENVESTNET ASSET MANAGEMENT INC Long Only Manager	Christopher Russell Todd CEO	$58.4M 0.02% of portfolio	1.3M shares	Q1 2021 Held for 4y 8m	$341.99B
UBS Group AG Institution	Sergio P. Ermotti CEO	$58.0M 0.01% of portfolio	1.3M shares	Q4 2021 Held for 3y 11m	$511.54B
A Advisor Group Holdings, Inc. Institution	-	$51.4M 0.07% of portfolio	1.2M shares	Q1 2020 Held for 5y 8m	$71.0B

Net Capital Flow

Institutional buying and selling activity for CALF in Q3 2025

Net Flow: −$387.6M
Buyers: 100
Sellers: 256
Total Bought: +$60.9M
Total Sold: −$448.5M
Avg Position: $6.0M

Biggest Buyers

Institution	Net Bought	Current Position
Cetera Investment Advisers RIA/Wealth	+$26.9M +613.4K shares	$93.4M 2.1M shares
D DAVIDSON D A & CO Institution	+$8.2M +186.9K shares	$23.3M 532.3K shares
PSI Advisors, LLC RIA/Wealth	+$7.6M +174.4K shares	$7.6M 174.4K shares
J JONES FINANCIAL COMPANIES LLLP Institution	+$2.2M +49.6K shares	$34.6M 784.1K shares
R Rockefeller Capital Management L.P. Long Only Manager	+$2.2M +49.3K shares	$18.1M 412.5K shares
Cornerstone Wealth Management, LLC RIA/Wealth	+$1.2M +28.1K shares	$17.3M 395.1K shares
Forefront Wealth Partners, LLC RIA/Wealth	+$1.0M +23.6K shares	$1.0M 23.6K shares
Bleakley Financial Group, LLC RIA/Wealth	+$1.0M +23.2K shares	$8.4M 192.6K shares
KESTRA PRIVATE WEALTH SERVICES, LLC RIA/Wealth	+$778.9K +17.8K shares	$4.8M 110.7K shares
VERUS CAPITAL PARTNERS, LLC RIA/Wealth	+$714.2K +16.3K shares	$2.2M 50.8K shares

Biggest Sellers

Institution	Net Sold	Current Position
BANK OF AMERICA CORP /DE/ Institution	−$87.7M −2.0M shares	$583.2M 13.3M shares
N NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Institution	−$25.9M −591.9K shares	$75.4M 1.7M shares
L LPL Financial LLC Institution	−$24.3M −555.5K shares	$171.3M 3.9M shares
MORGAN STANLEY RIA/Wealth	−$23.4M −535.2K shares	$229.5M 5.2M shares
UBS Group AG Institution	−$21.6M −492.5K shares	$58.0M 1.3M shares
WELLS FARGO & COMPANY/MN Institution	−$20.4M −466.1K shares	$102.1M 2.3M shares
ENVESTNET ASSET MANAGEMENT INC Long Only Manager	−$17.4M −396.6K shares	$58.4M 1.3M shares
MML INVESTORS SERVICES, LLC RIA/Wealth	−$16.8M −383.6K shares	$24.8M 567.0K shares
RAYMOND JAMES FINANCIAL INC RIA/Wealth	−$15.8M −361.7K shares	$120.2M 2.7M shares
B BW Gestao de Investimentos Ltda. Institution	−$11.6M −291.3K shares	Sold Off 0 shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited CALF in Q3 2025

New Positions: 25
New Value: $22.0M
Exited Positions: 42
Exited Value: $36.3M

New Positions

Institution	Position Value
Summit Financial, LLC RIA/Wealth	$4.1M 93.5K shares
T TCG Advisory Services, LLC RIA/Wealth	$3.8M 86.9K shares
C CI Private Wealth, LLC RIA/Wealth	$3.6M 81.4K shares
E Econ Financial Services Corp Institution	$3.5M 79.8K shares
X XTX Topco Ltd Institution	$1.5M 34.3K shares
Beacon Pointe Advisors, LLC RIA/Wealth	$839.5K 19.2K shares
SPRINGBOK CAPITAL MANAGEMENT, LLC Fund of Funds	$836.5K 19.1K shares
B BESSEMER GROUP INC Institution	$700.5K 16.0K shares
Ritter Daniher Financial Advisory LLC / DE RIA/Wealth	$621.7K 14.2K shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	$503.5K 11.5K shares

Exited Positions

Institution	Previous Position
B BW Gestao de Investimentos Ltda. Institution	$11.6M 291.3K shares
WEDBUSH MORGAN SECURITIES INC RIA/Wealth	$6.3M 158.5K shares
B BNP PARIBAS ARBITRAGE, SA Institution	$6.0M 150.0K shares
P PACIFIC CAPITAL WEALTH ADVISORS, INC RIA/Wealth	$2.2M 53.6K shares
E EWG Elevate Inc. Institution	$1.4M 34.7K shares
Oregon Pacific Wealth Management, LLC RIA/Wealth	$1.3M 33.8K shares
TITLEIST ASSET MANAGEMENT, LLC RIA/Wealth	$826.6K 20.8K shares
Q QTR Family Wealth, LLC RIA/Wealth	$612.2K 15.4K shares
Change Path, LLC RIA/Wealth	$560.0K 14.1K shares
Conservest Capital Advisors, Inc. RIA/Wealth	$534.7K 13.4K shares

Options Activity

Institutions with the largest Call and Put options positions in CALF as of Q3 2025

Call Positions: 1
Call Value: $350.2K
Put Positions: 0
Put Value: -

Call Positions

Institution	Position Value
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$350.2K 80.0 contracts

Put Positions

Institution	Position Value
No put positions found

Most Committed Institutions

Institutions with CALF as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
F Fearless Solutions, LLC dba Best Invest RIA/Wealth	John Edward Fosdick President	6.68% $10.4M	237.3K shares	Q4 2024 Held for 11 months	$155.6M
Compass Advisory Group LLC RIA/Wealth	Jeffrey Joseph Myers CIO	5.02% $17.9M	408.3K shares	Q3 2022 Held for 3y 2m	$356.3M
HHM Wealth Advisors, LLC RIA/Wealth	Travis A Hutchinson Managing Partner	4.02% $34.6M	790.7K shares	Q1 2022 Held for 3y 8m	$860.7M
Long Island Wealth Management, Inc. RIA/Wealth	Jeffrey Joseph Myers CCO	3.83% $7.9M	179.8K shares	Q4 2023 Held for 1y 11m	$205.4M
I INSTRUMENTAL WEALTH, LLC RIA/Wealth	David Scott Silver CEO	3.17% $4.5M	104.3K shares	Q1 2023 Held for 2y 8m	$142.6M
B Bright Futures Wealth Management, LLC. RIA/Wealth	Keith Edward Condemi Managing Partner	2.84% $3.5M	81.0K shares	Q3 2025 Held for 2 months	$124.9M
Carter Financial Group, INC. RIA/Wealth	Kevin Kenneth Carter President	2.71% $4.5M	101.9K shares	Q2 2025 Held for 5 months	$164.6M
Keystone Financial Services, LLC RIA/Wealth	Nancy Jean Laug-Sholin Managing Partner	2.55% $3.5M	80.6K shares	Q4 2024 Held for 11 months	$138.5M
A Anson Capital, Inc. Institution	-	2.22% $2.8M	64.8K shares	Q2 2024 Held for 1y 5m	$128.2M
Smart Portfolios, LLC RIA/Wealth	Bryce Arnevick James President	2.12% $2.2M	50.2K shares	Q4 2022 Held for 2y 11m	$103.4M

Hedge Fund Spotlight

Discover hedge funds investing in CALF

TWO SIGMA INVESTMENTS LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerCarter Mayberry Lyons

Portfolio Value: $62.0B
Positions: 3,252
Last Reported: Q3 2025

Sector Allocation

Position in Pacer US Small Cap Cash Cows 100

Market Value: $503.5K
Shares Held: 11.5K
Portfolio Weight: 0.00%
Owned Since: 2025-Q3

Top Holding	Sector	Market Value	Weight
1 SPDR S&P 500 ETF Trust SPY	ETF ETF	$680.4M	1.10%
2 Financial Select Sector SPDR Fund XLF	ETF ETF	$582.6M	0.94%
3 Consumer Staples Select Sector SPDR Fund XLP	ETF ETF	$489.6M	0.79%