Mason & Associates Inc has significantly reduced its stake in the Pacer US Large Cap Cash Cows Growth Leaders ETF (COWG), selling 161,704 shares valued at approximately $5.67 million as of April 30, 2026. This move decreases their position in COWG from 1.7% to 0.5% of their reported U.S. equity AUM, indicating a strategic shift in their investment approach.
The sale comes as COWG underperformed the S&P 500, with a 13.1% rise over the past year, trailing the index by 15.3 percentage points. This reduction in holdings may reflect Mason’s desire to pivot toward a more diversified strategy, potentially favoring individual stocks and targeted funds over broad ETFs that overlap with existing positions.
For market professionals, this transaction highlights the importance of assessing portfolio overlap when utilizing ETFs like COWG. Investors should evaluate whether their holdings in large-cap growth ETFs duplicate exposure to underlying stocks already present in their portfolios, as excessive overlap can undermine diversification strategies.
Source: fool.com