Innovator U.S. Equity Power Buffer ETF

PAUG • BATS

Innovator U.S. Equity Power Buffer ETF is an exchange-traded fund on BATS. As of Q3 2025, 198 institutional investors hold shares in this ETF, with total holdings valued at $792.8M. ALLIANCEBERNSTEIN L.P. is the largest holder with a position valued at $141.2M.

Overview

Overview of institutional ownership in PAUG as of Q3 2025

All Institutions

Institutions: 198
Value Held: $792.8M
Shares Held: 18.7M
Avg Position: $4.0M
Median Position: $833.2K

Hedge Funds

Hedge Funds: 1
Value Held: $266.6K
Shares Held: 6.3K
Avg Position: $266.6K
Median Position: $266.6K

Biggest Investors

Institutions with the largest positions in PAUG as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
ALLIANCEBERNSTEIN L.P. Long Only Manager	Seth Perry Bernstein CEO	$141.2M 0.04% of portfolio	3.3M shares	Q3 2021 Held for 4y 2m	$317.45B
A Advisor Group Holdings, Inc. Institution	-	$66.2M 0.09% of portfolio	1.6M shares	Q1 2020 Held for 5y 8m	$71.0B
Penserra Capital Management LLC ETF Provider	George Nmn Madrigal CEO	$62.9M 0.85% of portfolio	1.5M shares	Q3 2020 Held for 5y 2m	$7.4B
Brookstone Capital Management RIA/Wealth	Nadim "Dean" Zayed CEO	$38.3M 0.46% of portfolio	901.5K shares	Q3 2022 Held for 3y 2m	$8.3B
COMMONWEALTH EQUITY SERVICES, LLC. RIA/Wealth	Wayne Michael Bloom CEO	$25.7M 0.04% of portfolio	606.1K shares	Q3 2019 Held for 6y 2m	$71.1B
Cresset Asset Management, LLC RIA/Wealth	Jack Alan Ablin Founder	$20.9M 0.08% of portfolio	491.8K shares	Q3 2022 Held for 3y 2m	$25.7B
B BLAIR WILLIAM & CO/IL Institution	-	$18.9M 0.05% of portfolio	444.4K shares	Q2 2022 Held for 3y 5m	$37.6B
ENVESTNET ASSET MANAGEMENT INC Long Only Manager	Christopher Russell Todd CEO	$17.7M 0.01% of portfolio	416.8K shares	Q4 2021 Held for 3y 11m	$341.99B
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC RIA/Wealth	James Loren Cahn Chairman	$17.3M 0.03% of portfolio	406.7K shares	Q3 2023 Held for 2y 2m	$65.5B
HighTower Advisors, LLC RIA/Wealth	Robert David Oros CEO	$17.1M 0.02% of portfolio	402.7K shares	Q4 2019 Held for 5y 11m	$87.7B

Net Capital Flow

Institutional buying and selling activity for PAUG in Q3 2025

Traded: +$165.2M
Buyers: 115
Sellers: 58
Total Bought: +$209.4M
Total Sold: −$44.1M
Avg Position: $3.7M

Biggest Buyers

Institution	Net Bought	Current Position
A Advisor Group Holdings, Inc. Institution	+$32.0M +761.8K shares	$66.2M 1.6M shares
Brookstone Capital Management RIA/Wealth	+$31.2M +733.7K shares	$38.3M 901.5K shares
ALLIANCEBERNSTEIN L.P. Long Only Manager	+$31.1M +733.2K shares	$141.2M 3.3M shares
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC RIA/Wealth	+$14.2M +334.5K shares	$17.3M 406.7K shares
S SageView Advisory Group, LLC RIA/Wealth	+$7.4M +173.9K shares	$7.9M 186.1K shares
Kovitz Investment Group Partners, LLC RIA/Wealth	+$6.5M +152.6K shares	$16.7M 392.6K shares
Concurrent Investment Advisors, LLC RIA/Wealth	+$6.4M +151.2K shares	$6.4M 151.2K shares
J JANE STREET GROUP, LLC Institution	+$5.1M +120.3K shares	$5.1M 120.3K shares
Mariner Wealth Advisors, LLC RIA/Wealth	+$4.7M +110.4K shares	$5.4M 127.2K shares
A ATRIA INVESTMENTS LLC Institution	+$4.4M +103.9K shares	$4.4M 103.9K shares

Biggest Sellers

Institution	Net Sold	Current Position
HPM Partners LLC RIA/Wealth	−$19.2M −452.8K shares	$12.2M 288.2K shares
O OLD MISSION CAPITAL LLC Institution	−$4.8M −119.2K shares	Sold Off 0 shares
Kestra Advisory Services, LLC RIA/Wealth	−$3.7M −87.5K shares	$12.7M 298.9K shares
Prairie Wealth Advisors, Inc. RIA/Wealth	−$2.4M −58.1K shares	Sold Off 0 shares
Siligmueller & Norvid Wealth Advisors LLC RIA/Wealth	−$2.2M −53.5K shares	Sold Off 0 shares
UBS Group AG Institution	−$2.0M −48.6K shares	Sold Off 0 shares
G Global Strategic Investment Solutions, LLC Institution	−$1.9M −48.0K shares	Sold Off 0 shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	−$976.0K −24.1K shares	Sold Off 0 shares
CITY HOLDING CO Institution	−$716.9K −16.9K shares	$404.6K 9.5K shares
CRA Financial Services, LLC RIA/Wealth	−$667.8K −15.7K shares	$2.8M 66.8K shares

Entry and Exit Activity

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

New Positions: 19
New Value: $17.3M
Exited Positions: 16
Exited Value: $16.2M

New Positions

Institution	Position Value
Concurrent Investment Advisors, LLC RIA/Wealth	$6.4M 151.2K shares
Global Assets Advisory, LLC RIA/Wealth	$2.0M 48.2K shares
Annis Gardner Whiting Capital Advisors, LLC RIA/Wealth	$1.0M 24.1K shares
Mach-1 Financial Group, Inc. RIA/Wealth	$995.9K 23.5K shares
Integrity Advisory Solutions, LLC RIA/Wealth	$995.9K 23.5K shares
Arkadios Wealth Advisors RIA/Wealth	$906.3K 21.3K shares
CALIBER WEALTH MANAGEMENT, LLC / KS RIA/Wealth	$816.5K 19.2K shares
SYON CAPITAL LLC RIA/Wealth	$730.7K 17.2K shares
Atlantic Private Wealth, LLC RIA/Wealth	$628.6K 14.8K shares
Jessup Wealth Management, Inc RIA/Wealth	$460.8K 10.9K shares

Exited Positions

Institution	Previous Position
O OLD MISSION CAPITAL LLC Institution	$4.8M 119.2K shares
Prairie Wealth Advisors, Inc. RIA/Wealth	$2.4M 58.1K shares
Siligmueller & Norvid Wealth Advisors LLC RIA/Wealth	$2.2M 53.5K shares
UBS Group AG Institution	$2.0M 48.6K shares
G Global Strategic Investment Solutions, LLC Institution	$1.9M 48.0K shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$976.0K 24.1K shares
SRS Capital Advisors, Inc. RIA/Wealth	$605.6K 15.0K shares
Resurgent Financial Advisors LLC RIA/Wealth	$293.2K 7.2K shares
Armis Advisers, LLC RIA/Wealth	$258.9K 6.4K shares
B Berkshire Money Management, Inc. Institution	$209.3K 5.2K shares

Options Activity

Institutions with the largest Call and Put options positions in PAUG 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 PAUG as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
McAlister, Sweet & Associates, Inc. RIA/Wealth	John Richard Bryan Mcalister President	3.48% $5.3M	124.1K shares	Q3 2022 Held for 3y 2m	$151.4M
Luminist Capital LLC RIA/Wealth	Justin John Biebel CIO	3.43% $3.5M	83.3K shares	Q1 2025 Held for 8 months	$103.0M
GILL CAPITAL PARTNERS, LLC RIA/Wealth	Leslie Squires Rojas CCO	1.82% $5.9M	138.7K shares	Q2 2020 Held for 5y 5m	$323.7M
J John W. Brooker & Co., CPAs Institution	-	1.49% $727.9K	17.1K shares	Q4 2023 Held for 1y 11m	$49.0M
Berson & Corrado Investment Advisors, LLC RIA/Wealth	Mark Anthony Corrado Managing Partner	1.48% $2.5M	58.2K shares	Q3 2021 Held for 4y 2m	$167.2M
C Chris Bulman Inc Institution	-	1.32% $2.6M	61.5K shares	Q2 2024 Held for 1y 5m	$197.5M
D Diligent Investors, LLC RIA/Wealth	Henk Juergen Fischer Managing Partner	1.31% $5.1M	120.3K shares	Q3 2023 Held for 2y 2m	$389.5M
RED CRANE WEALTH MANAGEMENT, LLC RIA/Wealth	Jeffrey Feng Wu Managing Partner	1.29% $1.5M	35.4K shares	Q4 2024 Held for 11 months	$116.9M
YARGER WEALTH STRATEGIES, LLC RIA/Wealth	Jonathan Laird Yarger CEO	1.22% $2.6M	61.6K shares	Q3 2022 Held for 3y 2m	$215.0M
Ascent Wealth Partners, LLC RIA/Wealth	Christopher Boyan Lai CIO	1.20% $10.4M	244.0K shares	Q1 2023 Held for 2y 8m	$862.1M

Hedge Fund Spotlight

Discover hedge funds investing in PAUG

Cardinal Point Capital Management, ULC

Hedge Fund • Value

Portfolio ManagerMichelle Lynn Yarwood

Portfolio Value: $1.4B
Positions: 267
Last Reported: Q3 2025

Sector Allocation

Position in Innovator U.S. Equity Power Buffer ETF

Market Value: $266.6K
Shares Held: 6.3K
Portfolio Weight: 0.02%
Owned Since: 2023-Q2

Top Holding	Sector	Market Value	Weight
1 Vanguard Total Stock Market VTI	ETF ETF	$186.2M	12.94%
2 WisdomTree Floating Rate Treasury Fund USFR	ETF ETF	$71.8M	4.99%
3 Apple AAPL	Consumer Electronics Technology	$70.6M	4.91%