Vault-13

INNOVATOR ETFS TRUST KAUG

US SMALL CAP PWR · ETP · CUSIP 45783Y137

43 institutional holders +4 vs Q3 2025
4,370,6024.4m shares reported held*
$116.0mreported value*
3 new 10 added 11 reduced 3 sold out net bought ≈ $3.0m (+113.2k 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. Holder counts are more reliable. Implied quarter-end price ≈ $26.54.

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

0204060Q3 24: 28Q4 24: 40Q1 25: 37Q2 25: 34Q3 25: 39Q4 25: 4343Q3 24Q4 24Q1 25Q2 25Q3 25Q4 25
Numbers
QuarterHolders
Q3 202428
Q4 202440
Q1 202537
Q2 202534
Q3 202539
Q4 202543

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q4 24: 19 bought or addedQ4 24: 13 cut or sold outQ4 24Q1 25: 14 bought or addedQ1 25: 20 cut or sold outQ1 25Q2 25: 13 bought or addedQ2 25: 16 cut or sold outQ2 25Q3 25: 25 bought or addedQ3 25: 9 cut or sold outQ3 25Q4 25: 13 bought or addedQ4 25: 14 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q4 20241913
Q1 20251420
Q2 20251316
Q3 2025259
Q4 20251314

Biggest buyers

Berkshire Money Management, Inc. Added +47,175+47.2k
SageView Advisory Group, LLC Added +41,431+41.4k
SUSQUEHANNA INTERNATIONAL GROUP, LLP New +19,591+19.6k
BCS Wealth Management New +11,904+11.9k
Gradient Investments LLC Added +10,666+10.7k
First Heartland Consultants, Inc. Added +9,458+9.5k
Trek Financial, LLC New +7,665+7.7k
Faithward Advisors, LLC Added +4,525+4.5k
Kestra Advisory Services, LLC Added +2,792+2.8k
Foundations Investment Advisors, LLC Added +1,188+1.2k

Biggest sellers

HARBOUR INVESTMENTS, INC. Reduced -26,982-27.0k
OLD MISSION CAPITAL LLC Sold out -8,397-8.4k
HighTower Advisors, LLC Reduced -2,471-2.5k
BLAIR WILLIAM & CO/IL Reduced -1,900-1.9k
Advisory Services Network, LLC Sold out -1,007-1.0k
Capital Analysts, LLC Reduced -998-998
Brookstone Capital Management Reduced -854-854
OSAIC HOLDINGS, INC. Reduced -400-400
CORRADO ADVISORS, LLC Reduced -332-332
Cetera Investment Advisers Reduced -209-209

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Berkshire Money Management, Inc. 6.32% of their portfolio DALTON, MA 2,496,2442.5m $66.2m $66.2m 6.32% Added +47.2k +47,175
2 Gradient Investments LLC 0.20% of their portfolio ARDEN HILLS, MN 477,940477.9k $12.7m $12.7m 0.20% Added +10.7k +10,666
3 SageView Advisory Group, LLC 0.18% of their portfolio Newport Beach, CA 205,288205.3k $5.4m $5.4m 0.18% Added +41.4k +41,431
4 First Heartland Consultants, Inc. 0.39% of their portfolio LAKE ST. LOUIS, MO 191,485191.5k $5.1m $5.1m 0.39% Added +9.5k +9,458
5 BLAIR WILLIAM & CO/IL 0.01% of their portfolio CHICAGO, IL 139,483139.5k $3.7m $3.7m 0.01% Reduced -1.9k -1,900
6 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 124,107124.1k $3.3m $3.3m 0.00% Added +36 +36
7 Safe Harbor Wealth Advisors, LLC 2.65% of their portfolio DUBLIN, OH 100,802100.8k $2.7m $2.7m 2.65% First filing
8 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 95,68395.7k $2.5m $2.5m 0.00% Reduced -2.5k -2,471
9 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 87,26487.3k $2.3m $2.3m 0.00% Reduced -400 -400
10 CORRADO ADVISORS, LLC 0.88% of their portfolio RAMSEY, NJ 66,31466.3k $1.8m $1.8m 0.88% Reduced -332 -332
11 Kestra Advisory Services, LLC 0.00% of their portfolio AUSTIN, TX 41,81841.8k $1.1m $1.1m 0.00% Added +2.8k +2,792
12 Miller Financial Services LLC 0.89% of their portfolio MARSHALL, MI 28,53528.5k $757.0k $757.0k 0.89% Reduced -25 -25
13 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 22,80322.8k $605.0k $605.0k 0.00% Reduced -209 -209
14 Foundations Investment Advisors, LLC 0.01% of their portfolio PHOENIX, AZ 20,43120.4k $542.0k $542.0k 0.01% Added +1.2k +1,188
15 PFS Partners, LLC 0.24% of their portfolio MINE HILL, NJ 19,64019.6k $521.0k $521.0k 0.24% Unchanged
16 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 19,59119.6k $519.7k $519.7k 0.00% New
17 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 18,45018.4k $489.5k $489.5k 0.00% Unchanged
18 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 18,07018.1k $479.0k $479.0k 0.00% Added +278 +278
19 TopTier Wealth Management, LLC 0.32% of their portfolio MUSKEGO, WI 17,55217.6k $465.7k $465.7k 0.32% First filing
20 AE Wealth Management LLC 0.00% of their portfolio TOPEKA, KS 15,77215.8k $418.4k $418.4k 0.00% Unchanged
21 WEALTH ALLIANCE, LLC 0.04% of their portfolio MELLVILLE, NY 15,22115.2k $403.8k $403.8k 0.04% Unchanged
22 Faithward Advisors, LLC 0.06% of their portfolio LANCASTER, PA 14,73714.7k $391.0k $391.0k 0.06% Added +4.5k +4,525
23 WealthShield Partners, LLC 0.04% of their portfolio CARY, NC 13,40013.4k $355.5k $355.5k 0.04% Unchanged
24 Keating Financial Advisory Services, Inc. 0.04% of their portfolio MANHATTAN, KS 11,98312.0k $317.9k $317.9k 0.04% First filing
25 BCS Wealth Management 0.03% of their portfolio JOHNSON CITY, TN 11,90411.9k $315.8k $315.8k 0.03% New
26 Sherry Group, Inc. 0.32% of their portfolio MOUNTAIN HOME, AR 11,30511.3k $300.9k $300.9k 0.32% First filing
27 Brookstone Capital Management 0.00% of their portfolio WHEATON, IL 11,16611.2k $296.2k $296.2k 0.00% Reduced -854 -854
28 Outlook Wealth Advisors, LLC 0.06% of their portfolio SHENANDOAH, TX 9,4679.5k $251.2k $251.2k 0.06% Unchanged
29 FIDUCIARY FINANCIAL GROUP, LLC 0.03% of their portfolio SAN RAFAEL, CA 9,0779.1k $240.8k $240.8k 0.03% Unchanged
30 OneDigital Investment Advisors LLC 0.00% of their portfolio OVERLAND PARK, KS 8,8008.8k $233.5k $233.5k 0.00% Unchanged
31 First Commonwealth Financial Corp /PA/ 0.03% of their portfolio Indiana, PA 7,9568.0k $211.1k $211.1k 0.03% Reduced -187 -187
32 Trek Financial, LLC 0.01% of their portfolio Scottsdale, AZ 7,6657.7k $203.4k $203.4k 0.01% New
33 Atlantic Private Wealth, LLC 0.10% of their portfolio CHAPEL HILL, NC 6,1896.2k $164.2k $164.2k 0.10% Unchanged
34 IFP Advisors, Inc 0.00% of their portfolio TAMPA, FL 5,6585.7k $150.1k $150.1k 0.00% Added +300 +300
35 DHJJ Financial Advisors, Ltd. 0.04% of their portfolio NAPERVILLE, IL 4,6574.7k $123.6k $123.6k 0.04% Unchanged
36 Annis Gardner Whiting Capital Advisors, LLC 0.02% of their portfolio TAMPA, FL 4,0864.1k $108.4k $108.4k 0.02% Unchanged
37 Capital Investment Advisory Services, LLC 0.01% of their portfolio RALEIGH, NC 3,1123.1k $82.6k $82.6k 0.01% Unchanged
38 Steward Partners Investment Advisory, LLC 0.00% of their portfolio STAMFORD, CT 2,3072.3k $61.2k $61.2k 0.00% Unchanged
39 CWM, LLC 0.00% of their portfolio OMAHA, NE 2,1562.2k $57.0k $57.0k 0.00% Reduced -54 -54
40 Noble Wealth Management PBC 0.01% of their portfolio GREENWOOD VILLAGE, CO 1,0001.0k $26.5k $26.5k 0.01% Unchanged
41 Capital Analysts, LLC 0.00% of their portfolio FORT WASHINGTON, PA 803803 $21.0k $21.0k 0.00% Reduced -998 -998
42 HARBOUR INVESTMENTS, INC. 0.00% of their portfolio MADISON, WI 481481 $12.8k $12.8k 0.00% Reduced -27.0k -26,982
43 EVOLUTION WEALTH MANAGEMENT INC. 0.00% of their portfolio FORT MYERS, FL 200200 $5.3k $5.3k 0.00% Unchanged