Vault-13

INNOVATOR ETFS TRUST BDEC

US EQTY BUF DEC · ETP · CUSIP 45782C557

111 institutional holders +8 vs Q3 2025
3,691,4463.7m shares reported held*
$183.0mreported value*
15 new 42 added 23 reduced 9 sold out net bought ≈ $35.1m (+709.0k 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 ≈ $49.57.

Trends to Q4 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: 103Q4 25: 111111Q3 22Q2 23Q1 24Q4 24Q4 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
Q4 2025111

Buyers vs sellers

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

Bought or addedCut or sold out
1000100Q1 24: 26 bought or addedQ1 24: 38 cut or sold outQ2 24: 14 bought or addedQ2 24: 42 cut or sold outQ2 24Q3 24: 11 bought or addedQ3 24: 44 cut or sold outQ4 24: 51 bought or addedQ4 24: 28 cut or sold outQ4 24Q1 25: 42 bought or addedQ1 25: 34 cut or sold outQ2 25: 29 bought or addedQ2 25: 40 cut or sold outQ2 25Q3 25: 20 bought or addedQ3 25: 49 cut or sold outQ4 25: 57 bought or addedQ4 25: 32 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 20242638
Q2 20241442
Q3 20241144
Q4 20245128
Q1 20254234
Q2 20252940
Q3 20252049
Q4 20255732

Biggest buyers

Brookstone Capital Management Added +562,701+562.7k
Lido Advisors, LLC New +124,038+124.0k
JANE STREET GROUP, LLC New +78,652+78.7k
My Personal CFO, LLC New +74,376+74.4k
BCS Wealth Management Added +27,134+27.1k
SAGESPRING WEALTH PARTNERS, LLC New +22,332+22.3k
Cerity Partners LLC Added +20,300+20.3k
Arkadios Wealth Advisors Added +18,067+18.1k
MML INVESTORS SERVICES, LLC Added +15,731+15.7k
RAYMOND JAMES FINANCIAL INC Added +14,145+14.1k

Biggest sellers

WealthPlan Investment Management, LLC Reduced -204,109-204.1k
WealthPLAN Partners, LLC Reduced -38,481-38.5k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced -38,191-38.2k
OLD MISSION CAPITAL LLC Reduced -34,217-34.2k
COMMONWEALTH EQUITY SERVICES, LLC Reduced -17,588-17.6k
Penserra Capital Management LLC Reduced -14,057-14.1k
KFG WEALTH MANAGEMENT, LLC Sold out -11,715-11.7k
Wealthquest Corp Reduced -9,804-9.8k
CITADEL ADVISORS LLC Sold out -9,342-9.3k
BLAIR WILLIAM & CO/IL Reduced -5,409-5.4k

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, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Brookstone Capital Management 0.37% of their portfolio WHEATON, IL 654,744654.7k $32.4m $32.4m 0.37% Added +562.7k +562,701
2 Penserra Capital Management LLC 0.22% of their portfolio ORINDA, CA 377,526377.5k $18.7m $18.7m 0.22% Reduced -14.1k -14,057
3 OSAIC HOLDINGS, INC. 0.02% of their portfolio SCOTTSDALE, AZ 243,036243.0k $12.0m $12.0m 0.02% Added +7.3k +7,292
4 COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio WALTHAM, MA 199,910199.9k $9.9m $9.9m 0.01% Reduced -17.6k -17,588
5 Cerity Partners LLC 0.01% of their portfolio NEW YORK, NY 143,895143.9k $7.1m $7.1m 0.01% Added +20.3k +20,300
6 Lido Advisors, LLC 0.02% of their portfolio Los Angeles, CA 124,038124.0k $6.1m $6.1m 0.02% New
7 Cresset Asset Management, LLC 0.02% of their portfolio Chicago, IL 95,79595.8k $4.7m $4.7m 0.02% Unchanged
8 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 94,56194.6k $4.7m $4.7m 0.00% Added +14.1k +14,145
9 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 84,22384.2k $4.2m $4.2m 0.00% Added +710 +710
10 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 78,65278.7k $3.9m $3.9m 0.00% New
11 My Personal CFO, LLC 1.54% of their portfolio VANCOUVER, WA 74,37674.4k $3.7m $3.7m 1.54% New
12 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 69,45269.5k $3.4m $3.4m 0.00% Added +6.6k +6,638
13 MML INVESTORS SERVICES, LLC 0.01% of their portfolio SPRINGFIELD, MA 65,80265.8k $3.3m $3.3m 0.01% Added +15.7k +15,731
14 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 63,89363.9k $3.2m $3.2m 0.00% Added +13.9k +13,924
15 BLAIR WILLIAM & CO/IL 0.01% of their portfolio CHICAGO, IL 60,79160.8k $3.0m $3.0m 0.01% Reduced -5.4k -5,409
16 BCS Wealth Management 0.27% of their portfolio JOHNSON CITY, TN 54,66854.7k $2.7m $2.7m 0.27% Added +27.1k +27,134
17 Chris Bulman Inc 1.11% of their portfolio ROSEVILLE, CA 50,60850.6k $2.5m $2.5m 1.11% Added +7.5k +7,483
18 TopTier Wealth Management, LLC 1.66% of their portfolio MUSKEGO, WI 49,30449.3k $2.4m $2.4m 1.66% First filing
19 NovaPoint Capital, LLC 0.62% of their portfolio ATLANTA, GA 48,38948.4k $2.4m $2.4m 0.62% Reduced -2.8k -2,752
20 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 44,68744.7k $2.2m $2.2m 0.00% Added +2.2k +2,164
21 Strategic Blueprint, LLC 0.12% of their portfolio ATLANTA, GA 41,11841.1k $2.0m $2.0m 0.12% Added +3.6k +3,600
22 Trek Financial, LLC 0.11% of their portfolio Scottsdale, AZ 39,12539.1k $1.9m $1.9m 0.11% Added +2.7k +2,666
23 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 36,24936.2k $1.8m $1.8m 0.00% Added +1.7k +1,657
24 Krilogy Financial LLC 0.06% of their portfolio ST. LOUIS, MO 33,51533.5k $1.7m $1.7m 0.06% Reduced -500 -500
25 Kestra Advisory Services, LLC 0.01% of their portfolio AUSTIN, TX 33,32233.3k $1.7m $1.7m 0.01% Added +3.6k +3,590
26 INTEGRAL INVESTMENT ADVISORS, INC. 0.40% of their portfolio TURLOCK, CA 32,38432.4k $1.6m $1.6m 0.40% Unchanged
27 WealthPlan Investment Management, LLC 0.10% of their portfolio OMAHA, NE 32,03532.0k $1.6m $1.6m 0.10% Reduced -204.1k -204,109
28 Snowden Capital Advisors LLC 0.04% of their portfolio New York, NY 27,60127.6k $1.4m $1.4m 0.04% Added +11.5k +11,535
29 Global Assets Advisory, LLC 0.37% of their portfolio ORLANDO, FL 25,86425.9k $1.3m $1.3m 0.37% Added +377 +377
30 FSA Advisors, Inc. 0.89% of their portfolio TROY, MI 25,72725.7k $1.3m $1.3m 0.89% Added +90 +90
31 Beacon Pointe Advisors, LLC 0.01% of their portfolio NEWPORT BEACH, CA 25,28125.3k $1.3m $1.3m 0.01% Added +2.5k +2,452
32 Arkadios Wealth Advisors 0.02% of their portfolio ATLANTA, GA 23,65823.7k $1.2m $1.2m 0.02% Added +18.1k +18,067
33 THOROUGHBRED FINANCIAL SERVICES, LLC 0.07% of their portfolio BRENTWOOD, TN 23,13223.1k $1.1m $1.1m 0.07% Added +1.8k +1,791
34 WealthPLAN Partners, LLC 0.17% of their portfolio OMAHA, NE 22,53322.5k $1.1m $1.1m 0.17% Reduced -38.5k -38,481
35 SAGESPRING WEALTH PARTNERS, LLC 0.02% of their portfolio FRANKLIN, TN 22,33222.3k $1.1m $1.1m 0.02% New
36 Vantage Financial Partners, LLC 0.21% of their portfolio ELM GROVE, WI 20,43120.4k $1.0m $1.0m 0.21% Added +3.3k +3,337
37 CoreCap Advisors, LLC 0.03% of their portfolio SOUTHFIELD, MI 18,44318.4k $914.0k $914.0k 0.03% Added +9.2k +9,159
38 Bellwether Advisors, LLC 0.14% of their portfolio LINCOLN, NE 17,86817.9k $885.5k $885.5k 0.14% Unchanged
39 Lantz Financial LLC 0.17% of their portfolio NAPERVILLE, IL 16,52816.5k $819.1k $819.1k 0.17% Added +5.3k +5,292
40 Janney Montgomery Scott LLC 0.00% of their portfolio PHILADELPHIA, PA 15,29715.3k $758.0k $758.0k 0.00% Reduced -164 -164
41 First Commonwealth Financial Corp /PA/ 0.12% of their portfolio Indiana, PA 14,72514.7k $729.8k $729.8k 0.12% Reduced -3.4k -3,416
42 PCA Investment Advisory Services Inc. 0.25% of their portfolio CINCINNATI, OH 14,62714.6k $724.9k $724.9k 0.25% Reduced -3.1k -3,130
43 DHJJ Financial Advisors, Ltd. 0.23% of their portfolio NAPERVILLE, IL 14,00014.0k $693.8k $693.8k 0.23% Reduced -2.8k -2,782
44 Three Seasons Wealth, LLC 0.06% of their portfolio SALT LAKE CITY, UT 13,68313.7k $678.1k $678.1k 0.06% Unchanged
45 CreativeOne Wealth, LLC 0.02% of their portfolio OVERLAND PARK, KS 13,62413.6k $675.2k $675.2k 0.02% Reduced -3.8k -3,792
46 Outlook Wealth Advisors, LLC 0.15% of their portfolio SHENANDOAH, TX 13,45713.5k $666.9k $666.9k 0.15% Added +623 +623
47 IMG Wealth Management, Inc. 0.42% of their portfolio JACKSONVILLE, FL 13,19913.2k $654.1k $654.1k 0.42% Added +327 +327
48 MILESTONE ASSET MANAGEMENT, LLC 0.12% of their portfolio PITTSBURGH, PA 12,87312.9k $638.0k $638.0k 0.12% Reduced -446 -446
49 FWG Investments, LLC. 0.40% of their portfolio LEXINGTON, KY 12,73712.7k $631.2k $631.2k 0.40% Added +468 +468
50 Arax Advisory Partners 0.02% of their portfolio NEW YORK, NY 12,32812.3k $611.0k $611.0k 0.02% New
51 Mutual Advisors, LLC 0.01% of their portfolio OMAHA, NE 12,13012.1k $601.2k $601.2k 0.01% Added +1.0k +1,014
52 AE Wealth Management LLC 0.00% of their portfolio TOPEKA, KS 11,76811.8k $583.2k $583.2k 0.00% Added +6.0k +5,983
53 Beacon Financial Advisory LLC 0.13% of their portfolio CLEVELAND, OH 11,43511.4k $566.7k $566.7k 0.13% Reduced -3.7k -3,743
54 INTEGRITY ALLIANCE, LLC. 0.02% of their portfolio Urbandale, IA 11,26211.3k $558.1k $558.1k 0.02% New
55 GTS SECURITIES LLC 0.02% of their portfolio NEW YORK, NY 11,03211.0k $546.7k $546.7k 0.02% New
56 Sigma Planning Corp 0.01% of their portfolio ANN ARBOR, MI 10,66510.7k $528.6k $528.6k 0.01% Added +243 +243
57 Archer Investment Corp 0.12% of their portfolio Carmel, IN 10,57210.6k $523.9k $523.9k 0.12% Added +2.8k +2,785
58 Spire Wealth Management 0.02% of their portfolio MCLEAN, VA 10,54410.5k $522.5k $522.5k 0.02% Added +3.4k +3,444
59 Stratos Wealth Advisors, LLC 0.03% of their portfolio BEACHWOOD, OH 10,49910.5k $520.3k $520.3k 0.03% Added +5.6k +5,645
60 OLD MISSION CAPITAL LLC 0.02% of their portfolio CHICAGO, IL 10,34410.3k $512.6k $512.6k 0.02% Reduced -34.2k -34,217
61 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 10,30410.3k $510.7k $510.7k 0.00% Reduced -38.2k -38,191
62 GWN SECURITIES INC. 0.10% of their portfolio Palm Beach Gardens, FL 10,17010.2k $504.0k $504.0k 0.10% Unchanged
63 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 9,5609.6k $477.5k $477.5k 0.00% Added +1.5k +1,495
64 Valtinson Bruner Financial Planning LLC 0.14% of their portfolio NEW BRIGHTON, MN 9,5399.5k $472.8k $472.8k 0.14% Reduced -978 -978
65 Weaver Consulting Group 0.12% of their portfolio HUNTINGTON BEACH, CA 9,5359.5k $472.6k $472.6k 0.12% Added +850 +850
66 Focus Financial Network, Inc. 0.02% of their portfolio MINNEAPOLIS, MN 9,3029.3k $461.0k $461.0k 0.02% Unchanged
67 Pinnacle Wealth Management Group, Inc. 0.22% of their portfolio PLYMOUTH, MI 9,0009.0k $446.0k $446.0k 0.22% Added +1.7k +1,700
68 HOLLENCREST CAPITAL MANAGEMENT 0.01% of their portfolio NEWPORT BEACH, CA 8,5148.5k $422.0k $422.0k 0.01% New
69 CRA Financial Services, LLC 0.05% of their portfolio NORTHFIELD, NJ 8,4208.4k $417.3k $417.3k 0.05% Unchanged
70 Souders Financial Advisors 0.04% of their portfolio CINCINNATI, OH 7,5257.5k $372.9k $372.9k 0.04% Unchanged
71 Fragasso Financial Advisors Inc 0.02% of their portfolio SEWICKLEY, PA 7,1717.2k $355.4k $355.4k 0.02% Added +559 +559
72 BENJAMIN EDWARDS INC 0.00% of their portfolio Clayton, MO 7,0757.1k $350.6k $350.6k 0.00% Added +450 +450
73 D.B. Root & Company, LLC 0.08% of their portfolio PITTSBURGH, PA 6,9927.0k $346.5k $346.5k 0.08% New
74 Wealthquest Corp 0.03% of their portfolio CINCINNATI, OH 6,8366.8k $338.8k $338.8k 0.03% Reduced -9.8k -9,804
75 WEALTHGARDEN F.S. LLC 0.22% of their portfolio EL SEGUNDO, CA 6,6746.7k $334.4k $334.4k 0.22% Unchanged
76 IFP Advisors, Inc 0.01% of their portfolio TAMPA, FL 6,5816.6k $326.2k $326.2k 0.01% Added +1.1k +1,107
77 RFG Advisory, LLC 0.01% of their portfolio BIRMINGHAM, AL 6,5736.6k $325.8k $325.8k 0.01% Unchanged
78 PRINCIPAL SECURITIES, INC. 0.00% of their portfolio DES MOINES, IA 6,5256.5k $323.4k $323.4k 0.00% Reduced -34 -34
79 COFG Advisors, LLC 0.08% of their portfolio OAK BROOK, IL 6,4236.4k $318.3k $318.3k 0.08% First filing
80 Grantvest Financial Group LLC 0.19% of their portfolio MATAWAN, NJ 6,0156.0k $298.1k $298.1k 0.19% Added +1.7k +1,696
81 SageView Advisory Group, LLC 0.01% of their portfolio Newport Beach, CA 5,5555.6k $275.3k $275.3k 0.01% Unchanged
82 Waterloo Capital, L.P. 0.02% of their portfolio AUSTIN, TX 5,2035.2k $257.9k $257.9k 0.02% Unchanged
83 Optimist Retirement Group LLC 0.12% of their portfolio BELLEVUE, WA 5,1715.2k $256.3k $256.3k 0.12% Unchanged
84 Private Advisor Group, LLC 0.00% of their portfolio MORRISTOWN, NJ 5,1005.1k $252.8k $252.8k 0.00% New
85 Orion Capital Management LLC 0.08% of their portfolio CORONADO, CA 4,7004.7k $232.9k $232.9k 0.08% Unchanged
86 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 4,6594.7k $230.9k $230.9k 0.00% New
87 Seros Financial, LLC 0.13% of their portfolio TEMPE, AZ 4,5774.6k $226.8k $226.8k 0.13% Unchanged
88 Kathmere Capital Management, LLC 0.02% of their portfolio WAYNE, PA 4,5444.5k $225.2k $225.2k 0.02% Reduced -72 -72
89 Share Andrew L. 0.11% of their portfolio MANCHESTER, NH 4,5004.5k $223.0k $223.0k 0.11% Reduced -3.0k -3,000
90 Focus Partners Wealth 0.00% of their portfolio ST LOUIS, MO 4,4054.4k $218.3k $218.3k 0.00% Unchanged
91 WealthShield Partners, LLC 0.02% of their portfolio CARY, NC 3,6173.6k $179.3k $179.3k 0.02% Added +1.3k +1,317
92 HARBOUR INVESTMENTS, INC. 0.00% of their portfolio MADISON, WI 3,0513.1k $151.2k $151.2k 0.00% Reduced -3.2k -3,200
93 Pinnacle Wealth Planning Services, Inc. 0.01% of their portfolio MANSFIELD, OH 2,7322.7k $135.4k $135.4k 0.01% New
94 BLUE BELL PRIVATE WEALTH MANAGEMENT, LLC 0.02% of their portfolio BLUE BELL, PA 2,7242.7k $135.0k $135.0k 0.02% Reduced -76 -76
95 Steward Partners Investment Advisory, LLC 0.00% of their portfolio STAMFORD, CT 2,5902.6k $128.4k $128.4k 0.00% Added +324 +324
96 Farther Finance Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 2,4152.4k $119.7k $119.7k 0.00% Unchanged
97 Capital Analysts, LLC 0.00% of their portfolio FORT WASHINGTON, PA 2,4022.4k $119.0k $119.0k 0.00% Unchanged
98 Parallel Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 2,1802.2k $108.0k $108.0k 0.00% Unchanged
99 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 1,4641.5k $72.6k $72.6k 0.00% Unchanged
100 Financial Network Wealth Advisors LLC 0.07% of their portfolio MURRAY, UT 1,4411.4k $71.4k $71.4k 0.07% Unchanged