Vault-13

INNOVATOR ETFS TRUST BDEC

US EQTY BUF DEC · ETP · CUSIP 45782C557

103 institutional holders +2 vs Q2 2025
2,984,5313.0m shares reported held*
$142.6mreported value*
9 new 11 added 44 reduced 5 sold out net sold ≈ $15.0m (-312.8k 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. Holder counts are more reliable. Implied quarter-end price ≈ $47.77.

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

050100150Q3 22: 39Q4 22: 63Q1 23: 70Q2 23: 65Q3 23: 65Q4 23: 84Q1 24: 88Q2 24: 87Q3 24: 86Q4 24: 94Q1 25: 98Q2 25: 101Q3 25: 103103Q3 22Q2 23Q1 24Q4 24Q3 25
Numbers
QuarterHolders
Q3 202239
Q4 202263
Q1 202370
Q2 202365
Q3 202365
Q4 202384
Q1 202488
Q2 202487
Q3 202486
Q4 202494
Q1 202598
Q2 2025101
Q3 2025103

Buyers vs sellers

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

Bought or addedCut or sold out
1000100Q4 23: 47 bought or addedQ4 23: 25 cut or sold outQ1 24: 26 bought or addedQ1 24: 38 cut or sold outQ1 24Q2 24: 14 bought or addedQ2 24: 42 cut or sold outQ3 24: 11 bought or addedQ3 24: 44 cut or sold outQ3 24Q4 24: 51 bought or addedQ4 24: 28 cut or sold outQ1 25: 42 bought or addedQ1 25: 34 cut or sold outQ1 25Q2 25: 29 bought or addedQ2 25: 40 cut or sold outQ3 25: 20 bought or addedQ3 25: 49 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 20234725
Q1 20242638
Q2 20241442
Q3 20241144
Q4 20245128
Q1 20254234
Q2 20252940
Q3 20252049

Biggest buyers

WealthPlan Investment Management, LLC New +236,144+236.1k
WealthPLAN Partners, LLC New +61,014+61.0k
SUSQUEHANNA INTERNATIONAL GROUP, LLP New +48,495+48.5k
OLD MISSION CAPITAL LLC New +44,561+44.6k
Global Assets Advisory, LLC New +25,487+25.5k
MML INVESTORS SERVICES, LLC Added +17,562+17.6k
Penserra Capital Management LLC Added +4,680+4.7k
Focus Partners Wealth New +4,405+4.4k
Grantvest Financial Group LLC New +4,319+4.3k
LPL Financial LLC Added +3,405+3.4k

Biggest sellers

Brookstone Capital Management Reduced -539,887-539.9k
My Personal CFO, LLC Sold out -74,373-74.4k
COMMONWEALTH EQUITY SERVICES, LLC Reduced -18,020-18.0k
Arkadios Wealth Advisors Reduced -17,316-17.3k
Cerity Partners LLC Reduced -14,800-14.8k
Arax Advisory Partners Sold out -12,999-13.0k
Cambridge Investment Research Advisors, Inc. Reduced -11,652-11.7k
BLAIR WILLIAM & CO/IL Reduced -8,280-8.3k
Chris Bulman Inc Reduced -7,333-7.3k
Kestra Advisory Services, LLC Reduced -7,272-7.3k

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

No one currently above 5% in the filings since 19 Dec 2024.

Fell to 5% or below in the last year: Brookstone Capital Management (2.1%, 2026-07-02)

Holders, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Penserra Capital Management LLC 0.22% of their portfolio ORINDA, CA 391,583391.6k $18.8m $18.8m 0.22% Added +4.7k +4,680
2 WealthPlan Investment Management, LLC 0.75% of their portfolio OMAHA, NE 236,144236.1k $11.3m $11.3m 0.75% New
3 OSAIC HOLDINGS, INC. 0.02% of their portfolio SCOTTSDALE, AZ 235,744235.7k $11.1m $11.1m 0.02% Added +3.2k +3,208
4 COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio WALTHAM, MA 217,498217.5k $10.4m $10.4m 0.01% Reduced -18.0k -18,020
5 Cerity Partners LLC 0.01% of their portfolio NEW YORK, NY 123,595123.6k $5.9m $5.9m 0.01% Reduced -14.8k -14,800
6 Cresset Asset Management, LLC 0.02% of their portfolio Chicago, IL 95,79595.8k $4.6m $4.6m 0.02% Unchanged
7 Brookstone Capital Management 0.05% of their portfolio WHEATON, IL 92,04392.0k $4.4m $4.4m 0.05% Reduced -539.9k -539,887
8 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 83,51383.5k $4.0m $4.0m 0.00% Reduced -3.3k -3,290
9 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 80,41680.4k $3.9m $3.9m 0.00% Reduced -3.9k -3,893
10 BLAIR WILLIAM & CO/IL 0.01% of their portfolio CHICAGO, IL 66,20066.2k $3.2m $3.2m 0.01% Reduced -8.3k -8,280
11 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 62,81462.8k $3.0m $3.0m 0.00% Reduced -4.3k -4,349
12 WealthPLAN Partners, LLC 0.44% of their portfolio OMAHA, NE 61,01461.0k $2.9m $2.9m 0.44% New
13 Bullseye Investment Management, LLC 1.47% of their portfolio CINCINNATI, OH 57,90157.9k $2.4m $2.4m 1.47% Unchanged
14 NovaPoint Capital, LLC 0.60% of their portfolio ATLANTA, GA 51,14151.1k $2.5m $2.5m 0.60% Added +880 +880
15 MML INVESTORS SERVICES, LLC 0.01% of their portfolio SPRINGFIELD, MA 50,07150.1k $2.4m $2.4m 0.01% Added +17.6k +17,562
16 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 49,96950.0k $2.4m $2.4m 0.00% Reduced -2.2k -2,178
17 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 48,49548.5k $2.3m $2.3m 0.00% New
18 OLD MISSION CAPITAL LLC 0.08% of their portfolio CHICAGO, IL 44,56144.6k $2.1m $2.1m 0.08% New
19 Chris Bulman Inc 1.04% of their portfolio ROSEVILLE, CA 43,12543.1k $2.1m $2.1m 1.04% Reduced -7.3k -7,333
20 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 42,52342.5k $2.0m $2.0m 0.00% Added +3.4k +3,405
21 Strategic Blueprint, LLC 0.08% of their portfolio ATLANTA, GA 37,51837.5k $1.8m $1.8m 0.08% Reduced -144 -144
22 Trek Financial, LLC 0.10% of their portfolio Scottsdale, AZ 36,45936.5k $1.7m $1.7m 0.10% Reduced -260 -260
23 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 34,59234.6k $1.7m $1.7m 0.00% Reduced -11.7k -11,652
24 Krilogy Financial LLC 0.06% of their portfolio ST. LOUIS, MO 34,01534.0k $1.7m $1.7m 0.06% Reduced -1.0k -1,000
25 INTEGRAL INVESTMENT ADVISORS, INC. 0.42% of their portfolio TURLOCK, CA 32,38432.4k $1.6m $1.6m 0.42% Added +2.1k +2,150
26 Kestra Advisory Services, LLC 0.01% of their portfolio AUSTIN, TX 29,73229.7k $1.4m $1.4m 0.01% Reduced -7.3k -7,272
27 BCS Wealth Management 0.30% of their portfolio JOHNSON CITY, TN 27,53427.5k $1.3m $1.3m 0.30% Reduced -3.0k -3,010
28 FSA Advisors, Inc. 0.97% of their portfolio TROY, MI 25,63725.6k $1.2m $1.2m 0.97% Reduced -745 -745
29 Global Assets Advisory, LLC 0.36% of their portfolio ORLANDO, FL 25,48725.5k $1.2m $1.2m 0.36% New
30 Beacon Pointe Advisors, LLC 0.01% of their portfolio NEWPORT BEACH, CA 22,82922.8k $1.1m $1.1m 0.01% Added +795 +795
31 THOROUGHBRED FINANCIAL SERVICES, LLC 0.06% of their portfolio BRENTWOOD, TN 21,34121.3k $1.0m $1.0m 0.06% Reduced -2.5k -2,500
32 First Commonwealth Financial Corp /PA/ 0.15% of their portfolio Indiana, PA 18,14118.1k $869.5k $869.5k 0.15% Reduced -22 -22
33 Bellwether Advisors, LLC 0.14% of their portfolio LINCOLN, NE 17,86817.9k $856.4k $856.4k 0.14% Unchanged
34 PCA Investment Advisory Services Inc. 0.31% of their portfolio CINCINNATI, OH 17,75717.8k $851.1k $851.1k 0.31% Reduced -100 -100
35 CreativeOne Wealth, LLC 0.02% of their portfolio OVERLAND PARK, KS 17,41617.4k $834.7k $834.7k 0.02% Added +478 +478
36 Vantage Financial Partners, LLC 0.17% of their portfolio ELM GROVE, WI 17,09417.1k $819.3k $819.3k 0.17% Reduced -724 -724
37 DHJJ Financial Advisors, Ltd. 0.27% of their portfolio NAPERVILLE, IL 16,78216.8k $804.4k $804.4k 0.27% Reduced -105 -105
38 Wealthquest Corp 0.06% of their portfolio CINCINNATI, OH 16,64016.6k $797.6k $797.6k 0.06% Unchanged
39 Snowden Capital Advisors LLC 0.02% of their portfolio New York, NY 16,06616.1k $770.0k $770.0k 0.02% Reduced -6.4k -6,376
40 Janney Montgomery Scott LLC 0.00% of their portfolio PHILADELPHIA, PA 15,46115.5k $741.0k $741.0k 0.00% Reduced -2.8k -2,818
41 Beacon Financial Advisory LLC 0.17% of their portfolio CLEVELAND, OH 15,17815.2k $727.5k $727.5k 0.17% Reduced -457 -457
42 Three Seasons Wealth, LLC 0.07% of their portfolio SALT LAKE CITY, UT 13,68313.7k $655.8k $655.8k 0.07% Unchanged
43 MILESTONE ASSET MANAGEMENT, LLC 0.12% of their portfolio PITTSBURGH, PA 13,31913.3k $638.4k $638.4k 0.12% Reduced -420 -420
44 IMG Wealth Management, Inc. 0.42% of their portfolio JACKSONVILLE, FL 12,87212.9k $617.0k $617.0k 0.42% Reduced -437 -437
45 Outlook Wealth Advisors, LLC 0.15% of their portfolio SHENANDOAH, TX 12,83412.8k $615.1k $615.1k 0.15% Unchanged
46 FWG Investments, LLC. 0.40% of their portfolio LEXINGTON, KY 12,26912.3k $588.1k $588.1k 0.40% Reduced -418 -418
47 KFG WEALTH MANAGEMENT, LLC 0.08% of their portfolio GRANGER, IN 11,71511.7k $561.5k $561.5k 0.08% Unchanged
48 Lantz Financial LLC 0.12% of their portfolio NAPERVILLE, IL 11,23611.2k $538.5k $538.5k 0.12% Reduced -404 -404
49 Mutual Advisors, LLC 0.01% of their portfolio OMAHA, NE 11,11611.1k $537.1k $537.1k 0.01% Added +2.7k +2,672
50 Valtinson Bruner Financial Planning LLC 0.15% of their portfolio NEW BRIGHTON, MN 10,51710.5k $504.1k $504.1k 0.15% Reduced -165 -165
51 Sigma Planning Corp 0.01% of their portfolio ANN ARBOR, MI 10,42210.4k $499.5k $499.5k 0.01% Reduced -1.7k -1,741
52 GWN SECURITIES INC. 0.11% of their portfolio Palm Beach Gardens, FL 10,17010.2k $487.4k $487.4k 0.11% Reduced -115 -115
53 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 9,3429.3k $447.8k $447.8k 0.00% Reduced -3.5k -3,534
54 Focus Financial Network, Inc. 0.02% of their portfolio MINNEAPOLIS, MN 9,3029.3k $445.8k $445.8k 0.02% Unchanged
55 CoreCap Advisors, LLC 0.02% of their portfolio SOUTHFIELD, MI 9,2849.3k $445.0k $445.0k 0.02% Added +82 +82
56 Weaver Consulting Group 0.11% of their portfolio HUNTINGTON BEACH, CA 8,6858.7k $416.3k $416.3k 0.11% Reduced -662 -662
57 CRA Financial Services, LLC 0.06% of their portfolio NORTHFIELD, NJ 8,4208.4k $403.6k $403.6k 0.06% Unchanged
58 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 8,0658.1k $387.6k $387.6k 0.00% Reduced -495 -495
59 Archer Investment Corp 0.08% of their portfolio Carmel, IN 7,7877.8k $373.2k $373.2k 0.08% Unchanged
60 Souders Financial Advisors 0.04% of their portfolio CINCINNATI, OH 7,5257.5k $360.7k $360.7k 0.04% Unchanged
61 Share Andrew L. 0.25% of their portfolio MANCHESTER, NH 7,5007.5k $359.5k $359.5k 0.25% Unchanged
62 Pinnacle Wealth Management Group, Inc. 0.18% of their portfolio PLYMOUTH, MI 7,3007.3k $349.9k $349.9k 0.18% Unchanged
63 Spire Wealth Management 0.01% of their portfolio MCLEAN, VA 7,1007.1k $340.3k $340.3k 0.01% Unchanged
64 WEALTHGARDEN F.S. LLC 0.23% of their portfolio EL SEGUNDO, CA 6,6746.7k $322.1k $322.1k 0.23% Unchanged
65 BENJAMIN EDWARDS INC 0.00% of their portfolio Clayton, MO 6,6256.6k $317.5k $317.5k 0.00% Reduced -250 -250
66 Fragasso Financial Advisors Inc 0.02% of their portfolio SEWICKLEY, PA 6,6126.6k $318.0k $318.0k 0.02% Unchanged
67 RFG Advisory, LLC 0.01% of their portfolio BIRMINGHAM, AL 6,5736.6k $315.0k $315.0k 0.01% Unchanged
68 PRINCIPAL SECURITIES, INC. 0.01% of their portfolio DES MOINES, IA 6,5596.6k $314.4k $314.4k 0.01% Unchanged
69 HARBOUR INVESTMENTS, INC. 0.01% of their portfolio MADISON, WI 6,2516.3k $299.6k $299.6k 0.01% Reduced -2.9k -2,891
70 AE Wealth Management LLC 0.00% of their portfolio TOPEKA, KS 5,7855.8k $277.3k $277.3k 0.00% Unchanged
71 Arkadios Wealth Advisors 0.01% of their portfolio ATLANTA, GA 5,5915.6k $268.0k $268.0k 0.01% Reduced -17.3k -17,316
72 SageView Advisory Group, LLC 0.01% of their portfolio Newport Beach, CA 5,5555.6k $266.3k $266.3k 0.01% Unchanged
73 IFP Advisors, Inc 0.01% of their portfolio TAMPA, FL 5,4745.5k $262.4k $262.4k 0.01% Reduced -1.0k -1,000
74 Waterloo Capital, L.P. 0.02% of their portfolio AUSTIN, TX 5,2035.2k $249.4k $249.4k 0.02% Unchanged
75 Optimist Retirement Group LLC 0.11% of their portfolio BELLEVUE, WA 5,1715.2k $247.8k $247.8k 0.11% Unchanged
76 Stratos Wealth Advisors, LLC 0.01% of their portfolio BEACHWOOD, OH 4,8544.9k $232.7k $232.7k 0.01% Unchanged
77 Foundations Investment Advisors, LLC 0.00% of their portfolio PHOENIX, AZ 4,7004.7k $225.3k $225.3k 0.00% Reduced -5.2k -5,222
78 Orion Capital Management LLC 0.08% of their portfolio CORONADO, CA 4,7004.7k $225.3k $225.3k 0.08% Reduced -300 -300
79 Kathmere Capital Management, LLC 0.02% of their portfolio WAYNE, PA 4,6164.6k $221.2k $221.2k 0.02% Unchanged
80 Seros Financial, LLC 0.13% of their portfolio TEMPE, AZ 4,5774.6k $219.4k $219.4k 0.13% Unchanged
81 Focus Partners Wealth 0.00% of their portfolio ST LOUIS, MO 4,4054.4k $211.1k $211.1k 0.00% New
82 Grantvest Financial Group LLC 0.14% of their portfolio MATAWAN, NJ 4,3194.3k $207.0k $207.0k 0.14% New
83 Advisory Services Network, LLC 0.00% of their portfolio ATLANTA, GA 3,1403.1k $150.5k $150.5k 0.00% New
84 Stuart Chaussee & Associates, Inc. 0.03% of their portfolio BEVERLY HILLS, CA 3,0083.0k $144.2k $144.2k 0.03% Unchanged
85 BLUE BELL PRIVATE WEALTH MANAGEMENT, LLC 0.02% of their portfolio BLUE BELL, PA 2,8002.8k $134.2k $134.2k 0.02% Unchanged
86 Farther Finance Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 2,4152.4k $115.8k $115.8k 0.00% Unchanged
87 Capital Analysts, LLC 0.00% of their portfolio FORT WASHINGTON, PA 2,4022.4k $115.0k $115.0k 0.00% Unchanged
88 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 2,3372.3k $112.0k $112.0k 0.00% Added +1.6k +1,576
89 WealthShield Partners, LLC 0.01% of their portfolio CARY, NC 2,3002.3k $110.2k $110.2k 0.01% Unchanged
90 Steward Partners Investment Advisory, LLC 0.00% of their portfolio STAMFORD, CT 2,2662.3k $108.6k $108.6k 0.00% Unchanged
91 Parallel Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 2,1802.2k $104.5k $104.5k 0.00% Unchanged
92 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 1,4641.5k $70.2k $70.2k 0.00% New
93 Financial Network Wealth Advisors LLC 0.08% of their portfolio MURRAY, UT 1,4411.4k $69.1k $69.1k 0.08% Unchanged
94 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 1,1721.2k $56.2k $56.2k 0.00% Reduced -1.2k -1,179
95 CREATIVE FINANCIAL DESIGNS INC /ADV 0.00% of their portfolio KOKOMO, IN 1,0201.0k $48.9k $48.9k 0.00% Unchanged
96 Noble Wealth Management PBC 0.01% of their portfolio GREENWOOD VILLAGE, CO 400400 $19.2k $19.2k 0.01% First filing
97 Sunbelt Securities, Inc. 0.00% of their portfolio HOUSTON, TX 379379 $18.2k $18.2k 0.00% Reduced -2.6k -2,600
98 AdvisorNet Financial, Inc 0.00% of their portfolio MINNETONKA, MN 300300 $14.4k $14.4k 0.00% Unchanged
99 Integrity Financial Corp /WA 0.01% of their portfolio JACKSON, WY 250250 $12.0k $12.0k 0.01% Unchanged
100 EverSource Wealth Advisors, LLC 0.00% of their portfolio BIRMINGHAM, AL 150150 $7.2k $7.2k 0.00% Unchanged