Vault-13

PACER FDS TR COWG

US LRG CP CASH · ETP · CUSIP 69374H360

247 institutional holders +12 vs Q1 2026
40,664,44340.7m shares reported held*
$1.6bnreported value*
35 new 107 added 85 reduced 21 sold out net sold ≈ $57.2m (-1.4m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($194.0k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $40.01.

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

0100200300Q4 22: 2Q1 23: 10Q2 23: 16Q3 23: 21Q4 23: 24Q1 24: 38Q2 24: 57Q3 24: 57Q4 24: 113Q1 25: 162Q2 25: 201Q3 25: 224Q4 25: 241Q1 26: 235Q2 26: 247247Q4 22Q4 23Q4 24Q4 25Q2 26
Numbers
QuarterHolders
Q4 20222
Q1 202310
Q2 202316
Q3 202321
Q4 202324
Q1 202438
Q2 202457
Q3 202457
Q4 2024113
Q1 2025162
Q2 2025201
Q3 2025224
Q4 2025241
Q1 2026235
Q2 2026247

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
2000200Q3 24: 40 bought or addedQ3 24: 19 cut or sold outQ4 24: 96 bought or addedQ4 24: 7 cut or sold outQ4 24Q1 25: 143 bought or addedQ1 25: 20 cut or sold outQ2 25: 165 bought or addedQ2 25: 41 cut or sold outQ2 25Q3 25: 162 bought or addedQ3 25: 71 cut or sold outQ4 25: 156 bought or addedQ4 25: 80 cut or sold outQ4 25Q1 26: 118 bought or addedQ1 26: 118 cut or sold outQ2 26: 142 bought or addedQ2 26: 106 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q3 20244019
Q4 2024967
Q1 202514320
Q2 202516541
Q3 202516271
Q4 202515680
Q1 2026118118
Q2 2026142106

Biggest buyers

Cambridge Investment Research Advisors, Inc. Added +1,022,554+1.0m
Ethos Financial Group, LLC New +209,382+209.4k
MORGAN STANLEY Added +110,207+110.2k
ARQ WEALTH ADVISORS, LLC Added +94,444+94.4k
TWO SIGMA INVESTMENTS, LP New +93,400+93.4k
AMERIPRISE FINANCIAL INC New +76,865+76.9k
JONES FINANCIAL COMPANIES LLLP Added +66,887+66.9k
Summit Financial, LLC Added +50,931+50.9k
Plan Group Financial, LLC Added +50,200+50.2k
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Added +45,026+45.0k

Biggest sellers

WELLS FARGO & COMPANY/MN Reduced -898,493-898.5k
TRAPHAGEN INVESTMENT ADVISORS LLC Reduced -850,744-850.7k
MML INVESTORS SERVICES, LLC Reduced -295,341-295.3k
BANK OF AMERICA CORP /DE/ Reduced -209,527-209.5k
RFG Advisory, LLC Reduced -191,019-191.0k
Mariner, LLC Sold out -187,232-187.2k
ENVESTNET ASSET MANAGEMENT INC Reduced -136,765-136.8k
Rubicon Advisors, GP Reduced -116,692-116.7k
Rockefeller Capital Management L.P. Reduced -115,629-115.6k
Independent Advisor Alliance Sold out -75,782-75.8k

Holders, Q2 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 0.02% of their portfolio CHARLOTTE, NC 6,060,6036.1m $243.3m $243.3m 0.02% Reduced -209.5k -209,527
2 LPL Financial LLC 0.05% of their portfolio FORT MILL, SC 5,208,6285.2m $209.1m $209.1m 0.05% Added +26.7k +26,688
3 RAYMOND JAMES FINANCIAL INC 0.02% of their portfolio ST. PETERSBURG, FL 2,236,3262.2m $89.8m $89.8m 0.02% Added +10.5k +10,508
4 Cambridge Investment Research Advisors, Inc. 0.09% of their portfolio FAIRFIELD, IA 2,035,7162.0m $81.7m $81.7m 0.09% Added +1.0m +1,022,554
5 JONES FINANCIAL COMPANIES LLLP 0.03% of their portfolio DES PERES, MO 1,805,9021.8m $69.1m $69.1m 0.03% Added +66.9k +66,887
6 ENVESTNET ASSET MANAGEMENT INC 0.02% of their portfolio Berwyn, PA 1,682,0251.7m $67.5m $67.5m 0.02% Reduced -136.8k -136,765
7 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 1,580,1761.6m $63.4m $63.4m 0.00% Added +110.2k +110,207
8 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 1,126,5231.1m $45.2m $45.2m 0.01% Reduced -898.5k -898,493
9 Cetera Investment Advisers 0.04% of their portfolio SCHAUMBURG, IL 1,103,2431.1m $44.3m $44.3m 0.04% Added +13.8k +13,774
10 OSAIC HOLDINGS, INC. 0.04% of their portfolio SCOTTSDALE, AZ 892,744892.7k $35.8m $35.8m 0.04% Reduced -10.2k -10,167
11 MML INVESTORS SERVICES, LLC 0.06% of their portfolio SPRINGFIELD, MA 778,017778.0k $31.2m $31.2m 0.06% Reduced -295.3k -295,341
12 Kestra Advisory Services, LLC 0.09% of their portfolio AUSTIN, TX 668,597668.6k $26.8m $26.8m 0.09% Added +36.8k +36,825
13 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.01% of their portfolio MILWAUKEE, WI 580,323580.3k $23.3m $23.3m 0.01% Added +45.0k +45,026
14 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 527,699527.7k $21.2m $21.2m 0.00% Reduced -18.3k -18,271
15 TRUIST FINANCIAL CORP 0.02% of their portfolio CHARLOTTE, NC 508,853508.9k $20.4m $20.4m 0.02% Added +2.8k +2,843
16 Aspire Capital Advisors LLC 3.95% of their portfolio SEATTLE, WA 504,916504.9k $20.3m $20.3m 3.95% Added +8.7k +8,721
17 Foundations Investment Advisors, LLC 0.20% of their portfolio PHOENIX, AZ 491,913491.9k $19.7m $19.7m 0.20% Added +23.7k +23,656
18 Heck Capital Advisors, LLC 1.14% of their portfolio Rhinelander, WI 474,716474.7k $19.1m $19.1m 1.14% Added +843 +843
19 Clark Capital Management Group, Inc. 0.10% of their portfolio PHILADELPHIA, PA 473,741473.7k $19.0m $19.0m 0.10% Reduced -57.5k -57,459
20 HighTower Advisors, LLC 0.02% of their portfolio CHICAGO, IL 440,174440.2k $17.7m $17.7m 0.02% Added +9.0k +8,999
21 COMMONWEALTH EQUITY SERVICES, LLC 0.02% of their portfolio WALTHAM, MA 437,649437.6k $17.6m $17.6m 0.02% Reduced -53.2k -53,170
22 RVW Wealth, LLC 1.02% of their portfolio LOS ANGELES, CA 385,836385.8k $15.5m $15.5m 1.02% Added +43.8k +43,848
23 Steward Partners Investment Advisory, LLC 0.07% of their portfolio STAMFORD, CT 365,837365.8k $14.7m $14.7m 0.07% Added +1.3k +1,345
24 Plan Group Financial, LLC 2.70% of their portfolio OKLAHOMA CITY, OK 325,050325.1k $13.0m $13.0m 2.70% Added +50.2k +50,200
25 Sylvest Advisors, LLC 5.54% of their portfolio DALLAS, TX 306,096306.1k $12.3m $12.3m 5.54% Reduced -5.6k -5,583
26 HBW ADVISORY SERVICES LLC 0.92% of their portfolio SIMI VALLEY, CA 254,073254.1k $10.2m $10.2m 0.92% Added +4.9k +4,884
27 Z3 Capital Partners, LLC 2.12% of their portfolio RICHMOND, VA 251,710251.7k $10.1m $10.1m 2.12% Reduced -3.3k -3,330
28 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 237,443237.4k $9.5m $9.5m 0.00% Reduced -52.7k -52,661
29 Team Financial Group, LLC 3.91% of their portfolio TEMECULA, CA 229,660229.7k $9.2m $9.2m 3.91% Added +3.4k +3,380
30 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.02% of their portfolio PLYMOUTH, MN 229,378229.4k $9.0m $9.0m 0.02% Added +4.0k +3,988
31 Cornerstone Wealth Management, LLC 0.38% of their portfolio ST. PETERS, MO 222,996223.0k $9.0m $9.0m 0.38% Reduced -13.1k -13,101
32 Ethos Financial Group, LLC 0.52% of their portfolio KING OF PRUSSIA, PA 209,382209.4k $7.7m $7.7m 0.52% New
33 Orion Porfolio Solutions, LLC 0.06% of their portfolio OMAHA, NE 207,912207.9k $8.3m $8.3m 0.06% Reduced -25.6k -25,561
34 Rockefeller Capital Management L.P. 0.01% of their portfolio NEW YORK, NY 206,298206.3k $8.3m $8.3m 0.01% Reduced -115.6k -115,629
35 FLAGSHIP HARBOR ADVISORS, LLC 0.30% of their portfolio BOSTON, MA 192,829192.8k $7.7m $7.7m 0.30% Added +19.6k +19,643
36 Laurel Wealth Planning LLC 2.97% of their portfolio EDINA, MN 167,019167.0k $6.7m $6.7m 2.97% Reduced -6.1k -6,100
37 Marble Wealth, LLC 1.01% of their portfolio MONTGOMERY, AL 164,698164.7k $6.6m $6.6m 1.01% Reduced -4.1k -4,137
38 Baird Financial Group, Inc. 0.01% of their portfolio MILWAUKEE, WI 160,855160.9k $6.5m $6.5m 0.01% Added +10.1k +10,078
39 VERUS CAPITAL PARTNERS, LLC 0.33% of their portfolio SCOTTSDALE, AZ 152,292152.3k $6.1m $6.1m 0.33% Added +3.9k +3,889
40 Guilbault Capital LLC 5.82% of their portfolio METAIRIE, LA 144,360144.4k $5.8m $5.8m 5.82% Reduced -5.6k -5,553
41 ATLANTIC FAMILY WEALTH, LLC 3.62% of their portfolio CORAL GABLES, FL 140,972141.0k $5.7m $5.7m 3.62% Added +2.5k +2,520
42 BNB Wealth Management, LLC 3.01% of their portfolio SILVER SPRING, MD 137,263137.3k $5.5m $5.5m 3.01% Reduced -63.1k -63,114
43 Advisory Services Network, LLC 0.06% of their portfolio ATLANTA, GA 130,062130.1k $5.2m $5.2m 0.06% Reduced -516 -516
44 Fortis Advisors, LLC 2.44% of their portfolio WAYNE, PA 129,814129.8k $5.2m $5.2m 2.44% Reduced -342 -342
45 Tandem Investment Partners LLC 3.94% of their portfolio Bordentown, NJ 127,475127.5k $5.1m $5.1m 3.94% Added +3.2k +3,187
46 Kingsview Wealth Management, LLC 0.06% of their portfolio GRANTS PASS, OR 127,435127.4k $5.1m $5.1m 0.06% Reduced -64.0k -64,045
47 Arkadios Wealth Advisors 0.08% of their portfolio ATLANTA, GA 126,464126.5k $5.1m $5.1m 0.08% Added +5.6k +5,617
48 ARQ WEALTH ADVISORS, LLC 0.59% of their portfolio SCOTTSDALE, AZ 126,084126.1k $4.8m $4.8m 0.59% Added +94.4k +94,444
49 EverSource Wealth Advisors, LLC 0.17% of their portfolio BIRMINGHAM, AL 124,070124.1k $5.0m $5.0m 0.17% Added +17.5k +17,487
50 PRINCIPAL SECURITIES, INC. 0.06% of their portfolio DES MOINES, IA 118,634118.6k $4.8m $4.8m 0.06% Reduced -14.4k -14,446
51 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 111,671111.7k $4.5m $4.5m 0.00% Reduced -37.9k -37,863
52 Summit Financial, LLC 0.05% of their portfolio PARSIPPANY, NJ 103,319103.3k $4.1m $4.1m 0.05% Added +50.9k +50,931
53 World Investment Advisors 0.06% of their portfolio LINCROFT, NJ 101,729101.7k $3.5m $3.5m 0.06% Reduced -2.2k -2,249
54 Bellars Harris Wealth Management, LLC 0.80% of their portfolio VIRGINIA BEACH, VA 97,29197.3k $3.9m $3.9m 0.80% First filing
55 NewEdge Advisors, LLC 0.01% of their portfolio NEW ORLEANS, LA 95,39395.4k $3.8m $3.8m 0.01% Reduced -2.3k -2,349
56 &PARTNERS 0.02% of their portfolio NASHVILLE, TN 94,74894.7k $3.8m $3.8m 0.02% Added +7.7k +7,650
57 Equitable Holdings, Inc. 0.02% of their portfolio NEW YORK, NY 94,14394.1k $3.8m $3.8m 0.02% Added +272 +272
58 PCG Wealth Advisors, LLC 0.84% of their portfolio OVERLAND PARK, KS 94,01494.0k $3.8m $3.8m 0.84% Added +1.9k +1,887
59 TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio NEW YORK, NY 93,40093.4k $3.7m $3.7m 0.00% New
60 Waverly Advisors, LLC 0.02% of their portfolio BIRMINGHAM, AL 91,94091.9k $3.7m $3.7m 0.02% Reduced -3.3k -3,336
61 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 88,35788.4k $3.5m $3.5m 0.00% Reduced -13.0k -12,961
62 HARBOUR INVESTMENTS, INC. 0.05% of their portfolio MADISON, WI 87,86787.9k $3.5m $3.5m 0.05% Added +2.2k +2,167
63 KESTRA PRIVATE WEALTH SERVICES, LLC 0.04% of their portfolio AUSTIN, TX 85,70085.7k $3.4m $3.4m 0.04% Reduced -2.4k -2,407
64 SIGNATURE ESTATE & INVESTMENT ADVISORS LLC 0.06% of their portfolio LOS ANGELES, CA 81,93281.9k $3.3m $3.3m 0.06% Added +7.8k +7,760
65 Teamwork Financial Advisors, LLC 0.30% of their portfolio San Antonio, TX 81,32581.3k $3.3m $3.3m 0.30% Reduced -1.2k -1,157
66 PARK AVENUE SECURITIES LLC 0.02% of their portfolio NEW YORK, NY 80,92380.9k $3.2m $3.2m 0.02% Reduced -452 -452
67 Atlas Private Wealth Advisors 0.68% of their portfolio RED BANK, NJ 77,09777.1k $3.1m $3.1m 0.68% Added +7.9k +7,897
68 IHT Wealth Management, LLC 0.07% of their portfolio Chicago, IL 76,94276.9k $3.1m $3.1m 0.07% Added +14.1k +14,095
69 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 76,86576.9k $3.1m $3.1m 0.00% New
70 INDEPENDENT FINANCIAL GROUP, LLC 0.06% of their portfolio SAN DIEGO, CA 74,39874.4k $3.0m $3.0m 0.06% Added +1.6k +1,579
71 Mason & Associates Inc 0.48% of their portfolio LOS ANGELES, CA 74,03274.0k $3.0m $3.0m 0.48% Reduced -14.6k -14,635
72 Kovack Advisors, Inc. 0.14% of their portfolio FT. LAUDERDALE, FL 73,74873.7k $3.0m $3.0m 0.14% Added +5.2k +5,193
73 Private Advisor Group, LLC 0.01% of their portfolio MORRISTOWN, NJ 71,71771.7k $2.9m $2.9m 0.01% Added +34.9k +34,915
74 AssuredPartners Investment Advisors, LLC 0.26% of their portfolio Tampa, FL 66,82666.8k $2.7m $2.7m 0.26% Added +382 +382
75 First Heartland Consultants, Inc. 0.17% of their portfolio LAKE ST. LOUIS, MO 65,87665.9k $2.6m $2.6m 0.17% Added +6.9k +6,898
76 Savvy Advisors, Inc. 0.06% of their portfolio NEW YORK, NY 64,91064.9k $2.6m $2.6m 0.06% Added +7.5k +7,526
77 CRUX WEALTH ADVISORS 0.88% of their portfolio LONG BEACH, CA 63,11363.1k $2.5m $2.5m 0.88% Added +619 +619
78 Gotham Asset Management, LLC 0.01% of their portfolio NEW YORK, NY 61,37161.4k $2.5m $2.5m 0.01% Added +282 +282
79 FORTEM FINANCIAL GROUP, LLC 0.50% of their portfolio PALM DESERT, CA 61,26961.3k $2.5m $2.5m 0.50% Reduced -2.1k -2,124
80 Commerce Advisors, LLC 1.29% of their portfolio MEMPHIS, TN 59,37059.4k $2.4m $2.4m 1.29% Added +471 +471
81 Lighthouse Wealth Management Inc. 1.48% of their portfolio ASHLAND, OH 59,26759.3k $2.4m $2.4m 1.48% Reduced -11.3k -11,327
82 THOROUGHBRED FINANCIAL SERVICES, LLC 0.11% of their portfolio BRENTWOOD, TN 59,21059.2k $2.4m $2.4m 0.11% Added +208 +208
83 Bay Colony Advisory Group, Inc d/b/a Bay Colony Advisors 0.25% of their portfolio CONCORD, MA 57,24157.2k $2.3m $2.3m 0.25% Reduced -215 -215
84 Empirical Asset Management, LLC 0.51% of their portfolio WELLESLEY, MA 56,18756.2k $2.3m $2.3m 0.51% Added +4.7k +4,675
85 Centurion Wealth Management LLC 0.51% of their portfolio Mclean, VA 52,72452.7k $2.1m $2.1m 0.51% Reduced -35.2k -35,226
86 Noble Wealth Management PBC 0.95% of their portfolio GREENWOOD VILLAGE, CO 51,85651.9k $2.1m $2.1m 0.95% Reduced -16.8k -16,762
87 Belpointe Asset Management LLC 0.07% of their portfolio RENO, NV 50,19850.2k $2.0m $2.0m 0.07% Added +13.1k +13,085
88 BENJAMIN EDWARDS INC 0.02% of their portfolio Clayton, MO 49,93549.9k $2.0m $2.0m 0.02% Added +1.8k +1,793
89 WBI INVESTMENTS, LLC 0.50% of their portfolio RED BANK, NJ 49,89449.9k $2.0m $2.0m 0.50% Added +5.3k +5,276
90 XML Financial, LLC 0.14% of their portfolio BETHESDA, MD 48,10448.1k $1.9m $1.9m 0.14% Added +3.8k +3,795
91 SMITH, MOORE & CO. 0.12% of their portfolio CLAYTON, MO 46,72346.7k $1.9m $1.9m 0.12% Reduced -4.0k -4,012
92 Sanctuary Advisors, LLC 0.01% of their portfolio INDIANAPOLIS, IN 46,53446.5k $1.9m $1.9m 0.01% Reduced -27.1k -27,111
93 Geneos Wealth Management Inc. 0.04% of their portfolio ENGLEWOOD, CO 46,03046.0k $1.8m $1.8m 0.04% Added +4.0k +4,048
94 Per Stirling Capital Management, LLC. 0.17% of their portfolio AUSTIN, TX 45,66745.7k $1.8m $1.8m 0.17% Reduced -27.3k -27,287
95 ROMANO BROTHERS AND COMPANY 0.18% of their portfolio EVANSTON, IL 43,94143.9k $1.8m $1.8m 0.18% Added +867 +867
96 Comprehensive Financial Consultants Institutional, Inc. 0.45% of their portfolio Bloomington, IN 42,12442.1k $1.7m $1.7m 0.45% Added +786 +786
97 Stratos Wealth Partners, LTD. 0.02% of their portfolio BEACHWOOD, OH 41,73341.7k $1.7m $1.7m 0.02% Reduced -3.9k -3,869
98 Post Resch Tallon Group Inc. 1.15% of their portfolio PITTSFORD, NY 41,58341.6k $1.7m $1.7m 1.15% Reduced -400 -400
99 Long Island Wealth Management, Inc. 0.68% of their portfolio MELVILLE, NY 41,18841.2k $1.7m $1.7m 0.68% Unchanged
100 NATIONS FINANCIAL GROUP INC, /IA/ /ADV 0.08% of their portfolio CEDAR RAPIDS, IA 40,46440.5k $1.6m $1.6m 0.08% Reduced -1.2k -1,250