Vault-13

INNOVATOR ETFS TRUST BFRZ

EQUITY MNGD 100 · ETP · CUSIP 45784N619

52 institutional holders +20 vs Q4 2025
3,970,1204.0m shares reported held*
$104.7mreported value*
22 new 22 added 5 reduced 2 sold out net bought ≈ $34.6m (+1.3m 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 ($312.3k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $26.36.

Trends to Q1 2026

Institutional holders

Managers reporting a position, each quarter

0204060Q2 25: 10Q3 25: 21Q4 25: 32Q1 26: 5252Q2 25Q3 25Q4 25Q1 26
Numbers
QuarterHolders
Q2 202510
Q3 202521
Q4 202532
Q1 202652

Buyers vs sellers

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

Bought or addedCut or sold out
50050Q3 25: 20 bought or addedQ3 25: 0 cut or sold outQ3 25Q4 25: 27 bought or addedQ4 25: 4 cut or sold outQ4 25Q1 26: 44 bought or addedQ1 26: 7 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q3 2025200
Q4 2025274
Q1 2026447

Biggest buyers

CWM, LLC Added +339,308+339.3k
Orion Porfolio Solutions, LLC Added +167,925+167.9k
Balance Wealth Partners LLC New +150,758+150.8k
Kestra Advisory Services, LLC Added +145,068+145.1k
Visionary Wealth Advisors Added +142,682+142.7k
Triad Wealth Partners, LLC Added +115,861+115.9k
Cambridge Investment Research Advisors, Inc. Added +84,030+84.0k
Farther Finance Advisors, LLC Added +67,926+67.9k
Encompass More Asset Management Added +43,390+43.4k
Atria Investments, Inc New +35,544+35.5k

Biggest sellers

VanWeelden Wealth Management, LLC Reduced -157,264-157.3k
ENVESTNET ASSET MANAGEMENT INC Reduced -81,976-82.0k
HARBOUR INVESTMENTS, INC. Reduced -54,585-54.6k
Thrivent Financial for Lutherans Sold out -45,024-45.0k
OLD MISSION CAPITAL LLC Sold out -11,012-11.0k
Ashton Thomas Private Wealth, LLC Reduced -9,769-9.8k
Maia Wealth LLC Reduced -4,821-4.8k

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 (4.5%, 2026-01-06)

Holders, Q1 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 449,502449.5k $11.8m $11.8m 0.00% Reduced -82.0k -81,976
2 CWM, LLC 0.03% of their portfolio OMAHA, NE 446,576446.6k $11.8m $11.8m 0.03% Added +339.3k +339,308
3 VanWeelden Wealth Management, LLC 8.03% of their portfolio WEST CHESTER TOWNSHIP, OH 381,918381.9k $10.1m $10.1m 8.03% Reduced -157.3k -157,264
4 Visionary Wealth Advisors 0.33% of their portfolio O'FALLON, IL 280,589280.6k $7.4m $7.4m 0.33% Added +142.7k +142,682
5 Triad Wealth Partners, LLC 0.57% of their portfolio LAWRENCE, KS 273,585273.6k $7.2m $7.2m 0.57% Added +115.9k +115,861
6 Orion Porfolio Solutions, LLC 0.04% of their portfolio OMAHA, NE 194,160194.2k $5.1m $5.1m 0.04% Added +167.9k +167,925
7 ATX Financial Planning, LLC 3.85% of their portfolio AUSTIN, TX 192,402192.4k $5.1m $5.1m 3.85% Added +15.6k +15,621
8 Kestra Advisory Services, LLC 0.02% of their portfolio AUSTIN, TX 192,340192.3k $5.1m $5.1m 0.02% Added +145.1k +145,068
9 Sigma Planning Corp 0.13% of their portfolio ANN ARBOR, MI 173,818173.8k $4.6m $4.6m 0.13% Added +5.0k +5,023
10 Balance Wealth Partners LLC 1.23% of their portfolio WORTHINGTON, OH 150,758150.8k $4.0m $4.0m 1.23% New
11 Brookstone Capital Management 0.04% of their portfolio WHEATON, IL 135,875135.9k $3.6m $3.6m 0.04% Added +5.4k +5,417
12 Cambridge Investment Research Advisors, Inc. 0.01% of their portfolio FAIRFIELD, IA 110,968111.0k $2.9m $2.9m 0.01% Added +84.0k +84,030
13 Signal Advisors Wealth, LLC 0.17% of their portfolio DETROIT, MI 95,51195.5k $2.5m $2.5m 0.17% Added +7.4k +7,358
14 Maia Wealth LLC 0.35% of their portfolio DENVER, CO 79,33279.3k $2.1m $2.1m 0.35% Reduced -4.8k -4,821
15 Farther Finance Advisors, LLC 0.02% of their portfolio SAN FRANCISCO, CA 70,31870.3k $1.9m $1.9m 0.02% Added +67.9k +67,926
16 Encompass More Asset Management 0.29% of their portfolio Danville, CA 65,60765.6k $1.7m $1.7m 0.29% Added +43.4k +43,390
17 PLANWISER FINANCIAL, LLC 0.96% of their portfolio COLORADO SPRINGS, CO 50,26850.3k $1.3m $1.3m 0.96% Added +16.1k +16,149
18 SIGNATUREFD, LLC 0.02% of their portfolio ATLANTA, GA 47,85347.9k $1.3m $1.3m 0.02% Added +908 +908
19 Sovran Advisors, LLC 0.08% of their portfolio SAN DIEGO, CA 37,45137.5k $989.9k $989.9k 0.08% Added +516 +516
20 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 37,39037.4k $985.6k $985.6k 0.00% Added +5.6k +5,576
21 Atria Investments, Inc 0.01% of their portfolio Charlotte, NC 35,54435.5k $936.9k $936.9k 0.01% New
22 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 35,42335.4k $933.8k $933.8k 0.00% Added +10.1k +10,137
23 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 34,30934.3k $904.4k $904.4k 0.00% New
24 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 29,40229.4k $775.0k $775.0k 0.00% Added +20.7k +20,687
25 MML INVESTORS SERVICES, LLC 0.00% of their portfolio SPRINGFIELD, MA 26,35526.4k $694.7k $694.7k 0.00% New
26 Ashton Thomas Private Wealth, LLC 0.02% of their portfolio SCOTTSDALE, AZ 25,42625.4k $670.2k $670.2k 0.02% Reduced -9.8k -9,769
27 World Investment Advisors 0.01% of their portfolio LINCROFT, NJ 24,52524.5k $646.5k $646.5k 0.01% New
28 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 22,31522.3k $588.9k $588.9k 0.00% New
29 WEALTHGARDEN F.S. LLC 0.37% of their portfolio EL SEGUNDO, CA 20,56520.6k $542.1k $542.1k 0.37% Added +9.6k +9,641
30 HARBOUR INVESTMENTS, INC. 0.01% of their portfolio MADISON, WI 19,15019.1k $504.8k $504.8k 0.01% Reduced -54.6k -54,585
31 Financial Solutions Advisory Group, Inc. 0.07% of their portfolio CHICAGO, IL 18,93618.9k $499.2k $499.2k 0.07% First filing
32 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 18,29918.3k $482.4k $482.4k 0.00% New
33 Merit Financial Group, LLC 0.00% of their portfolio ALPHARETTA, GA 17,54117.5k $462.4k $462.4k 0.00% New
34 Range Financial Group LLC 0.14% of their portfolio TIGARD, OR 16,22216.2k $427.6k $427.6k 0.14% New
35 INDEPENDENT FINANCIAL GROUP, LLC 0.01% of their portfolio SAN DIEGO, CA 15,73215.7k $414.7k $414.7k 0.01% Added +2.2k +2,245
36 Focus Partners Wealth 0.00% of their portfolio ST LOUIS, MO 14,28014.3k $376.4k $376.4k 0.00% New
37 JOURNEY RETIREMENT PLANNING & INVESTMENT MANAGEMENT LLC 0.33% of their portfolio AMMON, ID 14,16914.2k $373.5k $373.5k 0.33% New
38 SeaCrest Wealth Management, LLC 0.04% of their portfolio PURCHASE, NY 13,25013.2k $349.3k $349.3k 0.04% Unchanged
39 Ausdal Financial Partners, Inc. 0.02% of their portfolio Davenport, IA 13,14813.1k $346.6k $346.6k 0.02% New
40 Advyzon Investment Management, LLC 0.03% of their portfolio LISLE, IL 12,93012.9k $340.8k $340.8k 0.03% New
41 Accurate Wealth Management, LLC 0.04% of their portfolio WESLEY CHAPEL, FL 12,85712.9k $339.0k $339.0k 0.04% Added +2.6k +2,580
42 Inspire Advisors, LLC 0.03% of their portfolio Meridian, ID 12,22312.2k $322.2k $322.2k 0.03% New
43 NewCorp Financial Services, Inc. 0.26% of their portfolio ALPHARETTA, GA 11,26311.3k $296.9k $296.9k 0.26% New
44 BridgePort Financial Solutions, LLC 0.08% of their portfolio FAIRFIELD, IA 10,54410.5k $277.9k $277.9k 0.08% Added +2.8k +2,828
45 Vantage Point Financial LLC 0.09% of their portfolio LISLE, IL 9,7419.7k $256.8k $256.8k 0.09% New
46 Concurrent Investment Advisors, LLC 0.00% of their portfolio Tampa, FL 8,3608.4k $220.4k $220.4k 0.00% New
47 AE Wealth Management LLC 0.00% of their portfolio TOPEKA, KS 6,7046.7k $176.7k $176.7k 0.00% New
48 Legacy Wealth Managment, LLC/ID 0.09% of their portfolio BOISE, ID 6,6016.6k $174.0k $174.0k 0.09% New
49 Sound Income Strategies, LLC 0.01% of their portfolio FT LAUDERDALE, FL 4,3534.4k $114.8k $114.8k 0.01% New
50 RED REEF ADVISORS LLC 0.11% of their portfolio BOCA RATON, FL 4,1404.1k $109.1k $109.1k 0.11% New
51 UBS Group AG 0.00% of their portfolio ZURICH, V8 1,3891.4k $36.6k $36.6k 0.00% New
52 IFP Advisors, Inc 0.00% of their portfolio TAMPA, FL 5050 $1.3k $1.3k 0.00% Unchanged