[SCHEDULE 13G] Pacer American Energy Independence ETF SEC Filing

Rhea-AI Filing Summary

Truist Financial Corporation has filed a Schedule 13G disclosing a 194,171-share position in the Pacer American Energy Independence ETF (USAI), equal to 38.83 % of the fund’s outstanding shares as of 30 June 2025.

The filing classifies Truist as both a parent holding company (HC) and an investment adviser (IA). Truist reports:

• Sole dispositive power: 194,171 shares
• Sole or shared voting power: none

Management affirms the shares are held in the ordinary course of business with no intent to influence control. The certification is signed by Vice President Edward M. Kwiatkowski on 7 July 2025.

For investors, the filing signals significant institutional ownership in USAI, potentially improving liquidity and visibility, while also concentrating nearly 39 % of the ETF in a single holder.

Positive

• 38.83 % institutional stake by Truist may enhance USAI’s credibility and attract further professional investors.
• Filing indicates passive intent, reducing immediate risk of activist intervention.

Negative

• High ownership concentration (nearly 39 %) in one holder can reduce free float and elevate liquidity risk.
• Truist holds no voting power, limiting shareholder influence alignment with its large economic stake.

Insights

Equity Analyst

TL;DR: Truist holds 38.8 % of USAI, boosting institutional credibility but creating holder concentration risk.

The 13G shows Truist’s advisory arm controls almost two-fifths of USAI’s shares, yet retains no voting power. Such a stake can deepen secondary-market liquidity and attract additional institutions that view significant professional ownership as validation. However, the concentration means USAI’s float is materially reduced, exposing remaining shareholders to wider bid-ask spreads if Truist ever exits. Because Truist filed under 13d-1(b), the position appears passive, limiting immediate governance implications. Overall impact is neutral-to-modestly positive for USAI visibility, but investors should monitor future filings for stake reductions.

Corporate Governance Specialist

TL;DR: Passive 38.8 % stake by Truist raises governance concentration concerns despite lack of voting power.

While Truist certifies a passive intent, holding nearly 39 % of outstanding shares centralises ownership and could influence fund actions indirectly through redemption dynamics. The absence of voting rights mitigates overt control, yet large redemption requests could pressure portfolio liquidity. From a governance perspective, continued disclosure and monitoring are essential; a switch to Schedule 13D would signal strategic intentions. Current filing remains within normal advisory activity and is not materially disruptive today.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Pacer Funds Trust

(Name of Issuer)

Exchange Traded Fund

(Title of Class of Securities)

69374H238

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 69374H238

1

Names of Reporting Persons

TRUIST FINANCIAL CORP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

NORTH CAROLINA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 194,171.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

194,171.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

38.8 %

12

Type of Reporting Person (See Instructions)

IA, HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Pacer Funds Trust
(b)	Address of issuer's principal executive offices: 500 CHESTERFIELD PARKWAY, MALVERN, PENNSYLVANIA, 19355.
Item 2.
(a)	Name of person filing: Truist Financial Corporation as Parent Holding Company for Truist Advisory Services, Inc. an affiliated Registered Investment Advisor
(b)	Address or principal business office or, if none, residence: 214 North Tryon Street Charlotte, NC 28202
(c)	Citizenship: Truist Financial Corporation is a North Carolina Corporation; Truist Advisory Services, Inc. is a Delaware Corporation
(d)	Title of class of securities: Exchange Traded Fund
(e)	CUSIP No.: 69374H238
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 194171
(b)	Percent of class: 38.83 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 194,171.00
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

TRUIST FINANCIAL CORP

Signature:	Edward M. Kwiatkowski
Name/Title:	Vice President
Date:	07/07/2025

FAQ

How many USAI shares does Truist Financial own?

Truist reports beneficial ownership of 194,171 shares.

What percentage of USAI’s outstanding shares does this represent?

The position equals 38.83 % of the ETF’s shares.

Does Truist have voting power over its USAI stake?

No. Truist discloses 0 shares with sole or shared voting power.

Why did Truist file a Schedule 13G?

Ownership exceeded the 5 % threshold, requiring disclosure; the filing is passive under Rule 13d-1(b).

When was the event date triggering the filing?

The relevant event date is 30 June 2025.

Who signed the certification for Truist Financial?

The filing was signed by Edward M. Kwiatkowski, Vice President, on 7 July 2025.