Innovator U.S. Equity Buffer ETF

BJAN • BATS

Innovator U.S. Equity Buffer ETF is an exchange-traded fund on BATS. As of Q3 2025, 106 institutional investors hold shares in this ETF, with total holdings valued at $188.5M. Penserra Capital Management LLC is the largest holder with a position valued at $18.6M.

Overview

Overview of institutional ownership in BJAN as of Q3 2025

All Institutions

Institutions: 106
Value Held: $188.5M
Shares Held: 3.6M
Avg Position: $1.8M
Median Position: $595.6K

Hedge Funds

Hedge Funds: 1
Value Held: $541.0K
Shares Held: 10.2K
Avg Position: $541.0K
Median Position: $541.0K

Biggest Investors

Institutions with the largest positions in BJAN as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
Penserra Capital Management LLC ETF Provider	George Nmn Madrigal CEO	$18.6M 0.25% of portfolio	351.6K shares	Q1 2022 Held for 3y 8m	$7.4B
COMMONWEALTH EQUITY SERVICES, LLC. RIA/Wealth	Wayne Michael Bloom CEO	$14.4M 0.02% of portfolio	271.6K shares	Q1 2020 Held for 5y 8m	$71.1B
INTEGRAL INVESTMENT ADVISORS, INC. RIA/Wealth	Michael Thomas Abram President	$13.3M 3.59% of portfolio	250.9K shares	Q4 2021 Held for 3y 11m	$370.9M
HighTower Advisors, LLC RIA/Wealth	Robert David Oros CEO	$8.7M 0.01% of portfolio	163.9K shares	Q1 2020 Held for 5y 8m	$87.7B
Cetera Investment Advisers RIA/Wealth	Joseph Daniel Neary CEO	$7.3M 0.01% of portfolio	137.4K shares	Q1 2022 Held for 3y 8m	$85.4B
U U.S. Capital Wealth Advisors, LLC RIA/Wealth	David Michael King President	$7.0M 0.19% of portfolio	131.3K shares	Q2 2023 Held for 2y 5m	$3.7B
A Advisor Group Holdings, Inc. Institution	-	$6.6M 0.01% of portfolio	126.1K shares	Q1 2020 Held for 5y 8m	$71.0B
Stuart Chaussee & Associates, Inc. RIA/Wealth	Stuart Dubes Chaussee President	$6.0M 1.61% of portfolio	112.9K shares	Q4 2022 Held for 2y 11m	$370.8M
Janney Montgomery Scott LLC RIA/Wealth	Anthony Matthew Miller CEO	$5.4M 0.01% of portfolio	102.0K shares	Q1 2020 Held for 5y 8m	$40.0B
L LPL Financial LLC Institution	-	$5.4M 0.00% of portfolio	101.4K shares	Q4 2023 Held for 1y 11m	$340.07B

Net Capital Flow

Institutional buying and selling activity for BJAN in Q3 2025

Traded: −$32.3M
Buyers: 20
Sellers: 57
Total Bought: +$9.6M
Total Sold: −$42.0M
Avg Position: $1.7M

Biggest Buyers

Institution	Net Bought	Current Position
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	+$2.4M +45.4K shares	$2.4M 45.4K shares
O OLD MISSION CAPITAL LLC Institution	+$2.0M +38.3K shares	$2.9M 54.1K shares
Brookstone Capital Management RIA/Wealth	+$1.5M +-484.7K shares	$1.5M 28.0K shares
W WealthPlan Investment Management, LLC RIA/Wealth	+$856.0K +16.1K shares	$856.0K 16.1K shares
RAYMOND JAMES FINANCIAL INC RIA/Wealth	+$571.7K +10.8K shares	$3.3M 61.4K shares
JPMORGAN CHASE & CO Institution	+$479.6K +9.0K shares	$479.6K 9.0K shares
Feltz Wealth PLAN Inc. RIA/Wealth	+$404.9K +7.6K shares	$404.9K 7.6K shares
FORONJY FINANCIAL LLC RIA/Wealth	+$345.8K +6.5K shares	$345.8K 6.5K shares
GWN SECURITIES INC. RIA/Wealth	+$253.6K +4.8K shares	$493.8K 9.3K shares
Penserra Capital Management LLC ETF Provider	+$222.7K +4.2K shares	$18.6M 351.6K shares

Biggest Sellers

Institution	Net Sold	Current Position
COMMONWEALTH EQUITY SERVICES, LLC. RIA/Wealth	−$20.3M −383.4K shares	$14.4M 271.6K shares
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC RIA/Wealth	−$6.4M −121.1K shares	$2.6M 49.0K shares
O Onyx Bridge Wealth Group LLC RIA/Wealth	−$4.4M −82.3K shares	$639.5K 12.1K shares
M My Personal CFO, LLC RIA/Wealth	−$2.3M −46.5K shares	Sold Off 0 shares
Armis Advisers, LLC RIA/Wealth	−$1.3M −26.2K shares	Sold Off 0 shares
Sunbelt Securities, Inc. RIA/Wealth	−$904.6K −18.9K shares	Sold Off 0 shares
Arkadios Wealth Advisors RIA/Wealth	−$861.1K −17.1K shares	Sold Off 0 shares
Kestra Advisory Services, LLC RIA/Wealth	−$711.4K −13.4K shares	$1.9M 36.4K shares
M Holdings Securities, Inc. RIA/Wealth	−$673.2K −13.4K shares	Sold Off 0 shares
SRS Capital Advisors, Inc. RIA/Wealth	−$599.8K −11.9K shares	Sold Off 0 shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited BJAN in Q3 2025

New Positions: 2
New Value: $1.2M
Exited Positions: 8
Exited Value: $7.2M

New Positions

Institution	Position Value
W WealthPlan Investment Management, LLC RIA/Wealth	$856.0K 16.1K shares
FORONJY FINANCIAL LLC RIA/Wealth	$345.8K 6.5K shares

Exited Positions

Institution	Previous Position
M My Personal CFO, LLC RIA/Wealth	$2.3M 46.5K shares
Armis Advisers, LLC RIA/Wealth	$1.3M 26.2K shares
Sunbelt Securities, Inc. RIA/Wealth	$904.6K 18.9K shares
Arkadios Wealth Advisors RIA/Wealth	$861.1K 17.1K shares
M Holdings Securities, Inc. RIA/Wealth	$673.2K 13.4K shares
SRS Capital Advisors, Inc. RIA/Wealth	$599.8K 11.9K shares
C Chris Bulman Inc Institution	$476.5K 9.5K shares
$US BANCORP \DE\ logo$ US BANCORP \DE\ Institution	$25.4K 506.0 shares

Options Activity

Institutions with the largest Call and Put options positions in BJAN as of Q3 2025

Call Positions: 0
Call Value: -
Put Positions: 0
Put Value: -

Call Positions

Institution	Position Value
No call positions found

Put Positions

Institution	Position Value
No put positions found

Most Committed Institutions

Institutions with BJAN as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
INTEGRAL INVESTMENT ADVISORS, INC. RIA/Wealth	Michael Thomas Abram President	3.59% $13.3M	250.9K shares	Q4 2021 Held for 3y 11m	$370.9M
M Maltin Wealth Management, Inc. Institution	-	1.98% $4.4M	83.6K shares	Q4 2019 Held for 5y 11m	$223.6M
F FSA Advisors, Inc. Institution	-	1.77% $2.1M	39.2K shares	Q4 2023 Held for 1y 11m	$117.1M
Stuart Chaussee & Associates, Inc. RIA/Wealth	Stuart Dubes Chaussee President	1.61% $6.0M	112.9K shares	Q4 2022 Held for 2y 11m	$370.8M
Crown Wealth Group, LLC RIA/Wealth	Nicholas Martin Kolbenschlag CEO	1.59% $4.9M	91.8K shares	Q4 2023 Held for 1y 11m	$305.7M
M Motiv8 Investments LLC RIA/Wealth	Michael Gerald Terrio President	1.42% $2.7M	50.4K shares	Q4 2023 Held for 1y 11m	$187.8M
DHJJ Financial Advisors, Ltd. RIA/Wealth	Terrence John Cicero President	1.15% $3.4M	63.5K shares	Q4 2020 Held for 4y 11m	$291.4M
Schulz Wealth, LTD. RIA/Wealth	Robert Rankin Schulz President	1.13% $1.7M	32.1K shares	Q4 2023 Held for 1y 11m	$151.3M
ABSOLUTE INVESTMENT MANAGEMENT LLC RIA/Wealth	Daniel Jay Cohen Managing Partner	1.08% $1.4M	27.2K shares	Q1 2025 Held for 8 months	$133.1M
City Center Advisors, LLC RIA/Wealth	Alexander Jason Valner President	0.71% $732.5K	13.8K shares	Q1 2024 Held for 1y 8m	$102.9M

Hedge Fund Spotlight

Discover hedge funds investing in BJAN

CITADEL ADVISORS LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerKenneth Cordele Griffin

Portfolio Value: $122.08B
Positions: 5,531
Last Reported: Q3 2025

Sector Allocation

Position in Innovator U.S. Equity Buffer ETF

Market Value: $541.0K
Shares Held: 10.2K
Portfolio Weight: 0.00%
Owned Since: 2019-Q3

Top Holding	Sector	Market Value	Weight
1 Microsoft MSFT	Software - Infrastructure Technology	$2.1B	1.68%
2 Nvidia NVDA	Semiconductors Technology	$1.8B	1.50%
3 Meta Platforms, Inc. META	Internet Content & Information Communication Services	$1.4B	1.18%