Pacer Advisors, Inc.
"13F equity value" = market value of this filer's US-listed long equity positions only. It excludes cash, bonds, non-US and short positions, so it understates a fund's true assets under management — often by a lot.
13F holdings are disclosed ~45 days after quarter-end, and they never reveal when within the quarter a fund actually bought. So any 13F-based summary is structurally late and blurred — this applies to every fund, including this one.
We backtested copying it. Buying this fund's new positions the day each filing went public, over 32 quarters, returned +1.9% per quarter versus +2.7% from simply owning every 13F stock — it beat that baseline in only 40.6% of quarters (excess t = -2.26). Copying it would have systematically underperformed the simplest possible strategy.
Quarterly compounding, invested quarters only · entry 47 days after quarter-end (when 13F data becomes public)
Top 20 holdings of 2509 · 2026 Q1
| Ticker | Value | Weight | QoQ |
|---|---|---|---|
| VZ | $445M | | TRIM |
| UBER | $371M | | ADD |
| TMUS | $369M | | ADD |
| UPS | $345M | | ADD |
| VLO | $270M | | ADD |
| ZM | $209M | | ADD |
| TGT | $189M | | NEW |
| WDAY | $159M | | ADD |
| UAL | $158M | | TRIM |
| UTHR | $144M | | HOLD |
| THC | $128M | | NEW |
| VTRS | $109M | | ADD |
| TPR | $104M | | NEW |
| JAZZ | $95M | | NEW |
| VRSN | $86M | | ADD |
| VEEV | $85M | | ADD |
| TSLA | $75M | | NEW |
| WSM | $67M | | ADD |
| ZBH | $67M | | ADD |
| TWLO | $62M | | ADD |
QoQ vs previous quarter's share count · NEW = new position · ADD/TRIM = ±2% shares · HOLD = unchanged.
New positions in 2026 Q1
Method & Limitations
Method: a "new position" = held this quarter, absent last quarter (options excluded; stocks with <50 prior holders excluded to filter spin-off artifacts). Entry 47 days after quarter-end — the first day the public could act on the filing. Benchmark = equal-weighted universe of all 13F-held stocks. Limitations: quarterly snapshots can't see intra-quarter trades; survivorship bias — funds that shut down are absent, which flatters the sample. Statistics, not advice.