On February 4, 2026, WJ Wealth Management, LLC disclosed a significant reduction in its stake in Pacer US Large Cap Cash Cows Growth Leaders ETF (COWG 1.40%), selling an estimated $5.90 million based on quarterly average pricing.
What Happened
According to a filing with the U.S. Securities and Exchange Commission dated February 4, 2026, WJ Wealth Management, LLC reduced its position in Pacer US Large Cap Cash Cows Growth Leaders ETF by 165,942 shares. The estimated value of shares sold was $5.90 million based on the average unadjusted close during the fourth quarter. At quarter-end, the value of the COWG position declined by $6.06 million, including price changes.
What Else to Know
WJ Wealth Management, LLC's COWG position now represents 0.47% of 13F-reported AUM, following a sell transaction.
Top holdings after the filing:
- NYSEMKT: JPST: $18.33 million (8.0% of AUM)
- NYSEMKT: CGDV: $17.67 million (7.7% of AUM)
- NYSE: FLXR: $17.62 million (7.7% of AUM)
- NYSEMKT: BINC: $14.40 million (6.3% of AUM)
- NYSEMKT: CGIE: $11.23 million (4.9% of AUM)
As of February 4, 2026, shares of COWG were priced at $34.41.
One-year total return: 0.0%; underperformed the S&P 500 by 14.0 percentage points.
Annualized dividend yield: 0.33%.
The fund reported 70 positions at the end of the quarter.
ETF Overview
| Metric | Value |
|---|---|
| AUM | $2.4 billion |
| Dividend Yield | 0.33% |
| Price (as of market close February 4, 2026) | $34.41 |
| 1-Year Price Change | 0.00% |
ETF Snapshot
- Investment strategy focuses on large-cap U.S. companies with above-average free cash flow margins, using a rules-based methodology to select holdings.
- Portfolio primarily consists of large-cap equities traded in the United States, with a non-diversified structure allowing concentrated exposure to growth leaders.
- Expense ratio is not disclosed; the fund is structured as an ETF, providing liquidity and transparency for institutional and retail investors.
Pacer US Large Cap Cash Cows Growth Leaders ETF seeks to deliver exposure to large-cap U.S. companies demonstrating superior free cash flow margins, leveraging a systematic, rules-based selection process. The fund's concentrated approach enables targeted access to growth-oriented leaders within the U.S. equity market. Its structure as a non-diversified ETF offers investors a liquid vehicle for accessing high-quality large-cap equities with a focus on cash flow efficiency.
What This Transaction Means For Investors
WJ Wealth Management, an Arizona-based financial services firm, recently cut its stake in Pacer US Large Cap Cash Cows Growth Leaders ETF (COWG) by nearly $6 million during the fourth quarter (the three months ending on Dec. 31, 2025). Here’s what investors need to know.
For starters, let’s address COWG’s performance. The fund has advanced by 74% since the fund’s inception in late 2022. That equates to a compound annual growth rate (CAGR) of 19.5%. By comparison, the benchmark S&P 500 has delivered a total return of 88%, with a CAGR of 22.5%.
So, the fund has performed decently — nearly keeping pace with the S&P 500. However, it hasn’t fully kept pace, meaning that it has slightly underperformed. Moreover, the fund itself charges an expense ratio of 0.49%, which is average at best. Many ETFs that track the S&P 500 directly charge a rock-bottom rate of around 0.03% in fees.
Therefore, investors may want to consider a basic index ETF, such as Vanguard S&P 500 ETF, as an alternative, given its far lower fees and marginally better performance.
