Pacer US Cash Cows 100

COWZ • BATS

Pacer US Cash Cows 100 is an exchange-traded fund on BATS. As of Q3 2025, 777 institutional investors hold shares in this ETF, with total holdings valued at $12.4B. BANK OF AMERICA CORP /DE/ is the largest holder with a position valued at $2.5B.

Overview

Overview of institutional ownership in COWZ as of Q3 2025

All Institutions

Institutions: 777
Value Held: $12.4B
Shares Held: 216.1M
Avg Position: $16.0M
Median Position: $1.1M

Hedge Funds

Hedge Funds: 10
Value Held: $32.3M
Shares Held: 561.7K
Avg Position: $3.2M
Median Position: $988.4K

Biggest Investors

Institutions with the largest positions in COWZ 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	$2.5B 0.19% of portfolio	43.6M shares	Q4 2016 Held for 8y 11m	$1.33T
L LPL Financial LLC Institution	-	$1.2B 0.35% of portfolio	20.5M shares	Q1 2017 Held for 8y 8m	$340.07B
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$977.2M 0.06% of portfolio	17.0M shares	Q3 2018 Held for 7y 2m	$1.65T
RAYMOND JAMES FINANCIAL INC RIA/Wealth	Steven Robert Marcus CEO	$590.7M 0.19% of portfolio	10.3M shares	Q4 2024 Held for 11 months	$310.43B
N NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Institution	-	$519.6M 0.35% of portfolio	9.0M shares	Q1 2021 Held for 4y 8m	$149.83B
WELLS FARGO & COMPANY/MN Institution	Charles W. Scharf CEO	$439.1M 0.09% of portfolio	7.6M shares	Q1 2018 Held for 7y 8m	$488.50B
Cetera Investment Advisers RIA/Wealth	Joseph Daniel Neary CEO	$349.7M 0.41% of portfolio	6.1M shares	Q3 2021 Held for 4y 2m	$85.4B
A Advisor Group Holdings, Inc. Institution	-	$309.4M 0.44% of portfolio	5.3M shares	Q1 2020 Held for 5y 8m	$71.0B
UBS Group AG Institution	Sergio P. Ermotti CEO	$288.1M 0.06% of portfolio	5.0M shares	Q3 2018 Held for 7y 2m	$511.54B
AMERIPRISE FINANCIAL INC Institution	Jim Cracchiolo CEO	$243.1M 0.06% of portfolio	4.2M shares	Q4 2022 Held for 2y 11m	$433.11B

Net Capital Flow

Institutional buying and selling activity for COWZ in Q3 2025

Traded: −$1.5B
Buyers: 318
Sellers: 437
Total Bought: +$336.5M
Total Sold: −$1.8B
Avg Position: $15.0M

Biggest Buyers

Institution	Net Bought	Current Position
Cetera Investment Advisers RIA/Wealth	+$81.6M +1.4M shares	$349.7M 6.1M shares
MERCER GLOBAL ADVISORS INC /ADV RIA/Wealth	+$47.4M +824.2K shares	$51.1M 889.8K shares
C CI Private Wealth, LLC RIA/Wealth	+$28.9M +502.1K shares	$31.4M 545.6K shares
Drucker Wealth 3.0, LLC RIA/Wealth	+$12.3M +213.8K shares	$19.5M 338.6K shares
T TABLEAUX LLC Institution	+$10.1M +175.6K shares	$10.3M 179.7K shares
Q Qube Research & Technologies Ltd Institution	+$9.9M +171.8K shares	$16.4M 286.1K shares
T TCG Advisory Services, LLC RIA/Wealth	+$8.4M +145.8K shares	$8.4M 145.8K shares
JPMORGAN CHASE & CO Institution	+$6.9M +120.0K shares	$12.4M 215.7K shares
Buckingham Strategic Partners RIA/Wealth	+$6.0M +103.2K shares	$9.6M 164.4K shares
Intrua Financial, LLC RIA/Wealth	+$5.7M +98.8K shares	$5.7M 98.8K shares

Biggest Sellers

Institution	Net Sold	Current Position
BANK OF AMERICA CORP /DE/ Institution	−$409.7M −7.1M shares	$2.5B 43.6M shares
MORGAN STANLEY RIA/Wealth	−$161.1M −2.8M shares	$977.2M 17.0M shares
N NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Institution	−$146.5M −2.5M shares	$519.6M 9.0M shares
RAYMOND JAMES FINANCIAL INC RIA/Wealth	−$128.7M −2.2M shares	$590.7M 10.3M shares
COMMONWEALTH EQUITY SERVICES, LLC. RIA/Wealth	−$76.9M −1.3M shares	$217.2M 3.8M shares
AMERIPRISE FINANCIAL INC Institution	−$74.8M −1.3M shares	$243.1M 4.2M shares
WELLS FARGO & COMPANY/MN Institution	−$72.0M −1.3M shares	$439.1M 7.6M shares
UBS Group AG Institution	−$68.4M −1.2M shares	$288.1M 5.0M shares
L LPL Financial LLC Institution	−$64.1M −1.1M shares	$1.2B 20.5M shares
THRIVENT FINANCIAL FOR LUTHERANS Insurance Manager	−$36.9M −668.8K shares	Sold Off 0 shares

Entry and Exit Activity

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

New Positions: 33
New Value: $33.4M
Exited Positions: 52
Exited Value: $78.2M

New Positions

Institution	Position Value
T TCG Advisory Services, LLC RIA/Wealth	$8.4M 145.8K shares
Intrua Financial, LLC RIA/Wealth	$5.7M 98.8K shares
Summit Financial, LLC RIA/Wealth	$5.3M 92.9K shares
Windsor Advisory Group, LLC Family Office	$1.8M 31.8K shares
X XTX Topco Ltd Institution	$1.5M 26.1K shares
Beacon Pointe Advisors, LLC RIA/Wealth	$1.2M 21.2K shares
Ritter Daniher Financial Advisory LLC / DE RIA/Wealth	$1.1M 19.8K shares
Sonoma Allocations LLC RIA/Wealth	$991.3K 17.6K shares
E Equity Wealth Partners, LLC RIA/Wealth	$914.6K 15.9K shares
Colonial River Wealth Management, LLC RIA/Wealth	$864.5K 15.0K shares

Exited Positions

Institution	Previous Position
THRIVENT FINANCIAL FOR LUTHERANS Insurance Manager	$36.9M 668.8K shares
Pacific Wealth Management RIA/Wealth	$9.4M 169.7K shares
WINNOW WEALTH LLC RIA/Wealth	$9.1M 165.2K shares
Pinnacle Wealth Management Group, Inc. RIA/Wealth	$4.5M 81.3K shares
David R. Rahn & Associates Inc. RIA/Wealth	$2.9M 52.9K shares
N New England Private Wealth Advisors LLC RIA/Wealth	$1.6M 28.1K shares
Bay Colony Advisory Group, Inc d/b/a Bay Colony Advisors RIA/Wealth	$1.2M 21.2K shares
Sepio Capital, LLC RIA/Wealth	$1.1M 19.1K shares
M Holdings Securities, Inc. RIA/Wealth	$1.0M 18.6K shares
L Lion Street Advisors, LLC RIA/Wealth	$1.0M 18.6K shares

Options Activity

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

Call Positions: 2
Call Value: -
Put Positions: 1
Put Value: -

Call Positions

Institution	Position Value
B Belvedere Trading LLC Institution	- - contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	- - contracts

Put Positions

Institution	Position Value
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	- - contracts

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
P Provident Wealth Management, LLC RIA/Wealth	Keith Edward Mckissock CCO	14.32% $46.7M	812.5K shares	Q3 2022 Held for 3y 2m	$326.0M
GEN Financial Management, INC. RIA/Wealth	Eric Craig Moleski President	9.87% $11.4M	199.2K shares	Q4 2024 Held for 11 months	$116.0M
Longview Financial Advisors, Inc. RIA/Wealth	Timothy Charles Harrington Managing Partner	9.48% $12.3M	214.1K shares	Q4 2023 Held for 1y 11m	$129.7M
Clay Northam Wealth Management, LLC RIA/Wealth	Brian Matthew Clay CCO	8.91% $15.6M	271.3K shares	Q4 2021 Held for 3y 11m	$175.1M
C Cyr Financial Inc. RIA/Wealth	Christian John Cyr President	8.82% $12.8M	223.0K shares	Q2 2024 Held for 1y 5m	$145.3M
S Sylvest Advisors, LLC Institution	-	8.27% $15.4M	267.9K shares	Q4 2024 Held for 11 months	$186.2M
Presidio Capital Management, LLC RIA/Wealth	Dustin S Tenbroeck Managing Partner	8.13% $23.2M	403.5K shares	Q2 2022 Held for 3y 5m	$285.2M
Lighthouse Wealth Management Inc. RIA/Wealth	Timothy James Rowsey CEO	7.99% $9.6M	167.5K shares	Q4 2024 Held for 11 months	$120.6M
C Copley Financial Group, Inc. RIA/Wealth	Matthew David Copley President	7.44% $10.8M	188.8K shares	Q3 2024 Held for 1y 2m	$145.9M
O'Brien Wealth Partners LLC RIA/Wealth	Jill Ann Fopiano CEO	6.94% $47.9M	833.2K shares	Q1 2023 Held for 2y 8m	$689.8M

Hedge Fund Spotlight

Discover hedge funds investing in COWZ

Fermata Advisors, LLC

Hedge Fund • Sector

Portfolio ManagerNelson Moonhun Seo

Portfolio Value: $371.6M
Positions: 207
Last Reported: Q3 2025

Sector Allocation

Position in Pacer US Cash Cows 100

Market Value: $10.3M
Shares Held: 179.9K
Portfolio Weight: 2.78%
Owned Since: 2023-Q4

Top Holding	Sector	Market Value	Weight
1 Apple AAPL	Consumer Electronics Technology	$13.6M	3.67%
2 JPMorgan Equity Premium Income JEPI	ETF ETF	$13.1M	3.53%
3 Dimensional International Core Equity Market DFAI	ETF ETF	$12.7M	3.43%