Vault-13

INNOVATOR ETFS TRUST PAUG

US EQTY PWR BF · ETP · CUSIP 45782C680

223 institutional holders +19 vs Q3 2025
18,078,98918.1m shares reported held*
$782.0mreported value*
17 new 31 added 96 reduced 11 sold out net sold ≈ $42.3m (-978.2k 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 ($233.0k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $43.26.

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

0100200300Q3 22: 121Q4 22: 125Q1 23: 122Q2 23: 143Q3 23: 178Q4 23: 196Q1 24: 183Q2 24: 177Q3 24: 197Q4 24: 212Q1 25: 192Q2 25: 193Q3 25: 204Q4 25: 223223Q3 22Q2 23Q1 24Q4 24Q4 25
Numbers
QuarterHolders
Q3 2022121
Q4 2022125
Q1 2023122
Q2 2023143
Q3 2023178
Q4 2023196
Q1 2024183
Q2 2024177
Q3 2024197
Q4 2024212
Q1 2025192
Q2 2025193
Q3 2025204
Q4 2025223

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q1 24: 36 bought or addedQ1 24: 132 cut or sold outQ2 24: 19 bought or addedQ2 24: 129 cut or sold outQ2 24Q3 24: 121 bought or addedQ3 24: 52 cut or sold outQ4 24: 42 bought or addedQ4 24: 105 cut or sold outQ4 24Q1 25: 31 bought or addedQ1 25: 134 cut or sold outQ2 25: 36 bought or addedQ2 25: 117 cut or sold outQ2 25Q3 25: 117 bought or addedQ3 25: 61 cut or sold outQ4 25: 48 bought or addedQ4 25: 107 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 202436132
Q2 202419129
Q3 202412152
Q4 202442105
Q1 202531134
Q2 202536117
Q3 202511761
Q4 202548107

Biggest buyers

Focus Partners Wealth Added +376,961+377.0k
Rothschild Wealth LLC New +181,603+181.6k
BCS Wealth Management Added +53,544+53.5k
SageView Advisory Group, LLC Added +44,127+44.1k
LPL Financial LLC Added +25,389+25.4k
Cape Investment Advisory, Inc. New +16,395+16.4k
Curated Wealth Partners LLC New +16,295+16.3k
AlphaStar Capital Management, LLC New +14,414+14.4k
CITADEL ADVISORS LLC New +14,321+14.3k
MERCER GLOBAL ADVISORS INC /ADV Added +9,688+9.7k

Biggest sellers

NorthCoast Asset Management LLC Sold out -392,648-392.6k
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC Reduced -214,168-214.2k
OSAIC HOLDINGS, INC. Reduced -158,191-158.2k
ENVESTNET ASSET MANAGEMENT INC Reduced -124,991-125.0k
JANE STREET GROUP, LLC Sold out -120,277-120.3k
Cerity Partners LLC Reduced -111,207-111.2k
Luminist Capital LLC Sold out -83,271-83.3k
Advisory Services Network, LLC Reduced -58,394-58.4k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced -47,467-47.5k
Penserra Capital Management LLC Reduced -44,942-44.9k

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 ALLIANCEBERNSTEIN L.P. 0.04% of their portfolio NASHVILLE, TN 3,291,7063.3m $142.4m $142.4m 0.04% Reduced -33.1k -33,115
2 Penserra Capital Management LLC 0.74% of their portfolio ORINDA, CA 1,436,9301.4m $62.1m $62.1m 0.74% Reduced -44.9k -44,942
3 OSAIC HOLDINGS, INC. 0.09% of their portfolio SCOTTSDALE, AZ 1,416,0371.4m $61.2m $61.2m 0.09% Reduced -158.2k -158,191
4 Brookstone Capital Management 0.44% of their portfolio WHEATON, IL 884,459884.5k $38.3m $38.3m 0.44% Reduced -17.0k -17,042
5 COMMONWEALTH EQUITY SERVICES, LLC 0.03% of their portfolio WALTHAM, MA 597,997598.0k $25.9m $25.9m 0.03% Reduced -8.1k -8,098
6 Focus Partners Wealth 0.03% of their portfolio ST LOUIS, MO 566,642566.6k $24.5m $24.5m 0.03% Added +377.0k +376,961
7 Cresset Asset Management, LLC 0.08% of their portfolio Chicago, IL 459,796459.8k $19.9m $19.9m 0.08% Reduced -5.2k -5,231
8 BLAIR WILLIAM & CO/IL 0.05% of their portfolio CHICAGO, IL 431,873431.9k $18.7m $18.7m 0.05% Reduced -12.5k -12,509
9 HighTower Advisors, LLC 0.02% of their portfolio CHICAGO, IL 396,868396.9k $17.2m $17.2m 0.02% Reduced -5.8k -5,836
10 Cetera Investment Advisers 0.02% of their portfolio SCHAUMBURG, IL 335,419335.4k $14.5m $14.5m 0.02% Reduced -19.4k -19,433
11 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 322,038322.0k $13.9m $13.9m 0.00% Reduced -4.2k -4,225
12 Kestra Advisory Services, LLC 0.05% of their portfolio AUSTIN, TX 298,554298.6k $12.9m $12.9m 0.05% Reduced -313 -313
13 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 291,834291.8k $12.6m $12.6m 0.00% Reduced -125.0k -124,991
14 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 262,584262.6k $11.4m $11.4m 0.00% Added +25.4k +25,389
15 Ascent Wealth Partners, LLC 1.21% of their portfolio NEW HARTFORD, NY 242,125242.1k $10.5m $10.5m 1.21% Reduced -1.8k -1,834
16 SageView Advisory Group, LLC 0.34% of their portfolio Newport Beach, CA 230,267230.3k $10.0m $10.0m 0.34% Added +44.1k +44,127
17 Advisory Alpha, LLC 0.27% of their portfolio HOLLAND, MI 230,134230.1k $10.0m $10.0m 0.27% Added +1.3k +1,332
18 TRUIST FINANCIAL CORP 0.01% of their portfolio CHARLOTTE, NC 229,584229.6k $9.9m $9.9m 0.01% Added +1.8k +1,780
19 Beacon Pointe Advisors, LLC 0.06% of their portfolio NEWPORT BEACH, CA 193,509193.5k $8.4m $8.4m 0.06% Added +5.9k +5,874
20 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.01% of their portfolio PLYMOUTH, MN 192,544192.5k $8.4m $8.4m 0.01% Reduced -214.2k -214,168
21 Rothschild Wealth LLC 0.75% of their portfolio OAK BROOK, IL 181,603181.6k $7.9m $7.9m 0.75% New
22 Composition Wealth, LLC 0.11% of their portfolio LOS ANGELES, CA 178,076178.1k $7.7m $7.7m 0.11% Reduced -23.5k -23,512
23 Cerity Partners LLC 0.01% of their portfolio NEW YORK, NY 176,945176.9k $7.7m $7.7m 0.01% Reduced -111.2k -111,207
24 CoreCap Advisors, LLC 0.23% of their portfolio SOUTHFIELD, MI 153,024153.0k $6.6m $6.6m 0.23% Reduced -1.6k -1,573
25 Concurrent Investment Advisors, LLC 0.07% of their portfolio Tampa, FL 149,180149.2k $6.5m $6.5m 0.07% Reduced -2.0k -2,011
26 GILL CAPITAL PARTNERS, LLC 1.84% of their portfolio DENVER, CO 140,333140.3k $6.1m $6.1m 1.84% Added +1.6k +1,598
27 Mariner, LLC 0.01% of their portfolio Overland Park, KS 128,293128.3k $5.5m $5.5m 0.01% Added +1.1k +1,057
28 McAlister, Sweet & Associates, Inc. 4.07% of their portfolio HOUSTON, TX 123,829123.8k $5.4m $5.4m 4.07% Reduced -308 -308
29 Diligent Investors, LLC 1.28% of their portfolio REDLANDS, CA 120,262120.3k $5.2m $5.2m 1.28% Unchanged
30 BCS Wealth Management 0.50% of their portfolio JOHNSON CITY, TN 114,480114.5k $5.0m $5.0m 0.50% Added +53.5k +53,544
31 Atria Investments, Inc 0.05% of their portfolio Charlotte, NC 104,658104.7k $4.5m $4.5m 0.05% Added +716 +716
32 Capital Investment Advisory Services, LLC 0.31% of their portfolio RALEIGH, NC 102,680102.7k $4.4m $4.4m 0.31% Reduced -1.0k -1,017
33 Cambridge Investment Research Advisors, Inc. 0.01% of their portfolio FAIRFIELD, IA 101,276101.3k $4.4m $4.4m 0.01% Added +9.5k +9,458
34 Southland Equity Partners LLC 0.74% of their portfolio WILDWOOD, MO 86,26486.3k $3.7m $3.7m 0.74% Unchanged
35 Bellwether Advisors, LLC 0.59% of their portfolio LINCOLN, NE 84,91184.9k $3.7m $3.7m 0.59% Reduced -24 -24
36 Keating Financial Advisory Services, Inc. 0.49% of their portfolio MANHATTAN, KS 83,17983.2k $3.6m $3.6m 0.49% First filing
37 KFG WEALTH MANAGEMENT, LLC 0.48% of their portfolio GRANGER, IN 82,85082.8k $3.6m $3.6m 0.48% Reduced -20.0k -20,015
38 Trek Financial, LLC 0.21% of their portfolio Scottsdale, AZ 82,14682.1k $3.6m $3.6m 0.21% Unchanged
39 OneDigital Investment Advisors LLC 0.03% of their portfolio OVERLAND PARK, KS 81,32381.3k $3.5m $3.5m 0.03% Reduced -8.3k -8,304
40 MML INVESTORS SERVICES, LLC 0.01% of their portfolio SPRINGFIELD, MA 80,90080.9k $3.5m $3.5m 0.01% Reduced -23.8k -23,825
41 CAPTRUST FINANCIAL ADVISORS 0.01% of their portfolio RALEIGH, NC 78,77378.8k $3.4m $3.4m 0.01% Reduced -5.6k -5,614
42 Janney Montgomery Scott LLC 0.01% of their portfolio PHILADELPHIA, PA 78,56778.6k $3.4m $3.4m 0.01% Added +7.0k +7,042
43 MAI Capital Management 0.02% of their portfolio INDEPENDENCE, OH 75,09975.1k $3.2m $3.2m 0.02% Reduced -14.4k -14,429
44 Lineweaver Wealth Advisors, LLC 0.44% of their portfolio VALLEY VIEW, OH 74,85374.9k $3.2m $3.2m 0.44% Unchanged
45 Keystone Wealth Services, LLC 0.68% of their portfolio PALM DESERT, CA 74,54074.5k $3.2m $3.2m 0.68% Reduced -2.7k -2,678
46 AE Wealth Management LLC 0.02% of their portfolio TOPEKA, KS 67,84467.8k $2.9m $2.9m 0.02% Reduced -10.7k -10,663
47 CRA Financial Services, LLC 0.38% of their portfolio NORTHFIELD, NJ 66,81066.8k $2.9m $2.9m 0.38% Unchanged
48 First Commonwealth Financial Corp /PA/ 0.47% of their portfolio Indiana, PA 65,84065.8k $2.8m $2.8m 0.47% Added +259 +259
49 Chris Bulman Inc 1.24% of their portfolio ROSEVILLE, CA 64,60964.6k $2.8m $2.8m 1.24% Added +3.1k +3,147
50 Cassady Wealth & Retirement Planning, LLC 1.76% of their portfolio HENDERSON, NV 62,54462.5k $2.7m $2.7m 1.76% First filing
51 YARGER WEALTH STRATEGIES, LLC 1.10% of their portfolio WESTERVILLE, OH 59,16159.2k $2.6m $2.6m 1.10% Reduced -2.4k -2,405
52 Tradition Wealth Management, LLC 0.18% of their portfolio EDINA, MN 58,79058.8k $2.5m $2.5m 0.18% Reduced -1.8k -1,750
53 CORRADO ADVISORS, LLC 1.25% of their portfolio RAMSEY, NJ 57,80257.8k $2.5m $2.5m 1.25% Reduced -428 -428
54 COFG Advisors, LLC 0.56% of their portfolio OAK BROOK, IL 52,67152.7k $2.3m $2.3m 0.56% First filing
55 MTM FINANCIAL GROUP, LLC 1.06% of their portfolio BETHLEHEM, PA 51,27951.3k $2.2m $2.2m 1.06% Reduced -352 -352
56 DHJJ Financial Advisors, Ltd. 0.70% of their portfolio NAPERVILLE, IL 48,94148.9k $2.1m $2.1m 0.70% Reduced -373 -373
57 Mutual Advisors, LLC 0.04% of their portfolio OMAHA, NE 47,66347.7k $2.1m $2.1m 0.04% Reduced -10.0k -10,038
58 Global Assets Advisory, LLC 0.59% of their portfolio ORLANDO, FL 47,65547.7k $2.1m $2.1m 0.59% Reduced -519 -519
59 WEALTH ALLIANCE, LLC 0.20% of their portfolio MELLVILLE, NY 46,52746.5k $2.0m $2.0m 0.20% Unchanged
60 First City Capital Management, Inc. 1.05% of their portfolio SAVANNAH, GA 45,87245.9k $2.0m $2.0m 1.05% Reduced -490 -490
61 Valmark Advisers, Inc. 0.02% of their portfolio AKRON, OH 43,77943.8k $1.9m $1.9m 0.02% Unchanged
62 Weaver Capital Management LLC 0.37% of their portfolio SUWANEE, GA 40,85440.9k $1.8m $1.8m 0.37% Reduced -19.9k -19,884
63 Patriot Financial Group Insurance Agency, LLC 0.21% of their portfolio Westborough, MA 39,99640.0k $1.7m $1.7m 0.21% Reduced -106 -106
64 Foundations Investment Advisors, LLC 0.02% of their portfolio PHOENIX, AZ 39,92639.9k $1.7m $1.7m 0.02% Reduced -1.3k -1,287
65 Advisory Services Network, LLC 0.02% of their portfolio ATLANTA, GA 39,47139.5k $1.7m $1.7m 0.02% Reduced -58.4k -58,394
66 Clay Northam Wealth Management, LLC 0.90% of their portfolio HUNTINGTON BEACH, CA 37,37037.4k $1.6m $1.6m 0.90% Reduced -615 -615
67 FIDUCIARY FINANCIAL GROUP, LLC 0.23% of their portfolio SAN RAFAEL, CA 36,83736.8k $1.6m $1.6m 0.23% Reduced -882 -882
68 MERCER GLOBAL ADVISORS INC /ADV 0.00% of their portfolio DENVER, CO 36,67636.7k $1.6m $1.6m 0.00% Added +9.7k +9,688
69 RED CRANE WEALTH MANAGEMENT, LLC 1.25% of their portfolio SAN FRANCISCO, CA 35,37035.4k $1.5m $1.5m 1.25% Unchanged
70 Orion Capital Management LLC 0.51% of their portfolio CORONADO, CA 35,25535.3k $1.5m $1.5m 0.51% Unchanged
71 NATIONS FINANCIAL GROUP INC, /IA/ /ADV 0.08% of their portfolio CEDAR RAPIDS, IA 34,33034.3k $1.5m $1.5m 0.08% Added +467 +467
72 FSA Advisors, Inc. 1.02% of their portfolio TROY, MI 34,07034.1k $1.5m $1.5m 1.02% Added +1.2k +1,222
73 CreativeOne Wealth, LLC 0.03% of their portfolio OVERLAND PARK, KS 33,21433.2k $1.4m $1.4m 0.03% Reduced -49 -49
74 ARS Wealth Advisors Group, LLC 0.13% of their portfolio St. Petersburg, FL 33,17033.2k $1.4m $1.4m 0.13% Reduced -484 -484
75 Cornerstone Wealth Group, LLC 0.10% of their portfolio HUNTERSVILLE, NC 33,11833.1k $1.4m $1.4m 0.10% Added +284 +284
76 Continuum Advisory, LLC 0.13% of their portfolio EAGLE, ID 30,93330.9k $1.3m $1.3m 0.13% Unchanged
77 Sigma Planning Corp 0.04% of their portfolio ANN ARBOR, MI 29,99930.0k $1.3m $1.3m 0.04% Reduced -3.1k -3,124
78 BCGM Wealth Management, LLC 0.33% of their portfolio LAFAYETTE, IN 29,77629.8k $1.3m $1.3m 0.33% Unchanged
79 RFG Advisory, LLC 0.02% of their portfolio BIRMINGHAM, AL 29,49729.5k $1.3m $1.3m 0.02% Reduced -348 -348
80 Dynamic Advisor Solutions LLC 0.04% of their portfolio PHOENIX, AZ 27,09027.1k $1.2m $1.2m 0.04% Reduced -4.2k -4,162
81 Arkadios Wealth Advisors 0.02% of their portfolio ATLANTA, GA 25,97426.0k $1.1m $1.1m 0.02% Added +4.6k +4,634
82 Selby Wealth Management, LLC 0.45% of their portfolio EMERYVILLE, CA 25,80725.8k $1.1m $1.1m 0.45% First filing
83 Weaver Consulting Group 0.27% of their portfolio HUNTINGTON BEACH, CA 25,12425.1k $1.1m $1.1m 0.27% Unchanged
84 Integrity Advisory Solutions, LLC 0.16% of their portfolio DALLAS, TX 25,08825.1k $1.1m $1.1m 0.16% Added +1.6k +1,638
85 TopTier Wealth Management, LLC 0.73% of their portfolio MUSKEGO, WI 24,94624.9k $1.1m $1.1m 0.73% First filing
86 BFI Wealth Solutions, LLC 1.02% of their portfolio DALLAS, TX 24,82624.8k $1.1m $1.1m 1.02% First filing
87 SILVER OAK SECURITIES, INCORPORATED 0.07% of their portfolio JACKSON, TN 24,60224.6k $1.1m $1.1m 0.07% Reduced -120 -120
88 Visionary Wealth Advisors 0.05% of their portfolio O'FALLON, IL 23,75123.8k $1.0m $1.0m 0.05% Unchanged
89 Forvis Mazars Wealth Advisors, LLC 0.02% of their portfolio Springfield, MO 23,46823.5k $1.0m $1.0m 0.02% Reduced -604 -604
90 Buska Wealth Management, LLC 0.36% of their portfolio WAUSAU, WI 22,65222.7k $979.7k $979.7k 0.36% Reduced -3.1k -3,147
91 Schulz Wealth, LTD. 0.61% of their portfolio MANSFIELD, TX 22,03522.0k $953.0k $953.0k 0.61% Reduced -1.0k -1,030
92 Orion Porfolio Solutions, LLC 0.01% of their portfolio OMAHA, NE 21,49621.5k $929.7k $929.7k 0.01% Reduced -3.6k -3,558
93 Annis Gardner Whiting Capital Advisors, LLC 0.18% of their portfolio TAMPA, FL 21,46321.5k $928.3k $928.3k 0.18% Reduced -2.6k -2,600
94 Pinnacle Wealth Management Group, Inc. 0.45% of their portfolio PLYMOUTH, MI 20,80520.8k $899.8k $899.8k 0.45% Reduced -200 -200
95 Focus Financial Network, Inc. 0.03% of their portfolio MINNEAPOLIS, MN 19,98920.0k $864.5k $864.5k 0.03% Reduced -507 -507
96 NATIXIS ADVISORS, LLC 0.00% of their portfolio Boston, MA 19,38919.4k $839.0k $839.0k 0.00% Unchanged
97 Caliber Wealth Management, LLC / KS 0.09% of their portfolio Overland Park, KS 19,22619.2k $831.5k $831.5k 0.09% Unchanged
98 BENJAMIN EDWARDS INC 0.01% of their portfolio Clayton, MO 19,13819.1k $827.7k $827.7k 0.01% Reduced -710 -710
99 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 18,65918.7k $807.0k $807.0k 0.00% Reduced -47.5k -47,467
100 Beacon Financial Advisory LLC 0.19% of their portfolio CLEVELAND, OH 18,65618.7k $806.9k $806.9k 0.19% Unchanged