SCHEDULE 13G/A: Pacer Funds and Affiliates Update Passive Stake in DNOW Inc. to 1.31%

Pacer US Small Cap Cash Cows ETF, Pacer US Small Cap Cash Cows Growth Leaders ETF, Pacer Advisors, Inc., and Joe M. Thomson have filed an amended Schedule 13G, disclosing a combined beneficial ownership of 1.31% of DNOW Inc.'s common stock as of March 31, 2025.

Summary

• Pacer US Small Cap Cash Cows ETF, Pacer US Small Cap Cash Cows Growth Leaders ETF, Pacer Advisors, Inc., and Joe M. Thomson (collectively, the "Reporting Persons") have filed an Amendment No. 1 to Schedule 13G regarding their beneficial ownership in DNOW Inc.
• As of March 31, 2025, the Reporting Persons collectively beneficially own 1,384,599 shares of DNOW Inc. Common Stock.
• This aggregate ownership represents 1.31% of DNOW Inc.'s outstanding common stock, calculated based on 105,652,963 shares issued and outstanding as of December 31, 2024.
• Pacer US Small Cap Cash Cows ETF holds 1,363,703 shares, representing 1.29% of the class.
• Pacer US Small Cap Cash Cows Growth Leaders ETF holds 20,896 shares, representing 0.02% of the class.
• Pacer Advisors, Inc., as the investment adviser to the Funds, maintains discretionary investment and voting authority over the 1,384,599 shares held by the Funds, representing 1.31% of the class.
• Joe M. Thomson, as the majority stockholder of Pacer Advisors, Inc., is deemed to be the beneficial owner of the 1,384,599 shares held by the Funds, also representing 1.31% of the class.
• All Reporting Persons have shared voting power and shared dispositive power over their respective reported shares.
• The shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of DNOW Inc.

Sentiment

Score: 5

Explanation: The document is a factual disclosure of beneficial ownership and does not contain information that would significantly alter the sentiment towards DNOW Inc. It is a neutral, compliance-driven filing.

Future Outlook

This Schedule 13G filing is a disclosure of beneficial ownership and does not contain any forward-looking statements or guidance regarding DNOW Inc.'s future outlook.

Industry Context

This filing is a routine disclosure of passive beneficial ownership by investment funds and their affiliates. It does not provide specific insights into broader industry trends or DNOW Inc.'s competitive position, beyond indicating continued investment interest from these specific funds.

Stakeholder Impact

• Shareholders: Provides transparency regarding the ownership structure and confirms a passive investment by Pacer Funds and their affiliates. No direct impact on shareholder rights or value is implied by this routine filing.
• Employees, Customers, Suppliers, Creditors: No direct impact on these stakeholders is indicated by this beneficial ownership disclosure.

Key Dates

Keywords

DNOW Inc., Schedule 13G, Beneficial Ownership, Pacer US Small Cap Cash Cows ETF, Pacer US Small Cap Cash Cows Growth Leaders ETF, Pacer Advisors Inc., Joe M. Thomson, Common Stock, Investment Funds, Passive Investment