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Innovator US Equity Buffer ETF September
BSEP

97 hedge funds and large institutions have $116M invested in Innovator US Equity Buffer ETF September in 2025 Q1 according to their latest regulatory filings, with 5 funds opening new positions, 15 increasing their positions, 36 reducing their positions, and 13 closing their positions.

New
Increased
Maintained
Reduced
Closed

2.83% less ownership

Funds ownership: 74.76% → 71.92% (-2.8%)

9% less funds holding

Funds holding: 107 → 97 (-10)

20% less capital invested

Capital invested by funds: $146M → $116M (-$29.6M)

50% less funds holding in top 10

Funds holding in top 10: 2 → 1 (-1)

58% less repeat investments, than reductions

Existing positions increased: 15 | Existing positions reduced: 36

62% less first-time investments, than exits

New positions opened: 5 | Existing positions closed: 13

Holders
97
Holders Change
-10
Holders Change %
-9.35%
% of All Funds
1.3%
Holding in Top 10
1
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-50%
% of All Funds
0.01%
New
5
Increased
15
Reduced
36
Closed
13
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
Osaic Holdings
Osaic Holdings
Arizona
+$3.27M
2
PCM
Penserra Capital Management
California
+$2.62M
3
Commonwealth Equity Services
Commonwealth Equity Services
Massachusetts
+$883K
4
LA
Legacy Advisors
Pennsylvania
+$871K
5
Susquehanna International Group
Susquehanna International Group
Pennsylvania
+$734K

Top Sellers

Rank Fund Capital Flow
1
BCM
Brookstone Capital Management
Illinois
-$20.3M
2
SPIA
Steward Partners Investment Advisory
New York
-$4.61M
3
RPSA
Richard P. Slaughter Associates
Texas
-$3.08M
4
DI
Diligent Investors
California
-$1.58M
5
Cambridge Investment Research Advisors
Cambridge Investment Research Advisors
Iowa
-$1.56M
Name Holding Trade Value Shares
Change 		Change in
Stake
CAM
26
Cresset Asset Management
Illinois
$949K – – –
Cambridge Investment Research Advisors
27
Cambridge Investment Research Advisors
Iowa
$944K -$1.56M -36,284 -62%
MPCL
28
My Personal CFO LLC
Washington
$927K – – –
FFA
29
Fragasso Financial Advisors
Pennsylvania
$898K +$51.6K +1,197 +6%
WTFG
30
Wood Tarver Financial Group
Idaho
$897K – – –
OWA
31
Outlook Wealth Advisors
Texas
$885K -$3.06K -71 -0.3%
BCM
32
Brookstone Capital Management
Illinois
$723K -$20.3M -470,320 -96%
Susquehanna International Group
33
Susquehanna International Group
Pennsylvania
$712K +$734K +17,043 New
FCFC
34
First Commonwealth Financial Corp
Pennsylvania
$683K +$191K +4,436 +37%
GSIAS
35
Garden State Investment Advisory Services
New Jersey
$670K – – –
TSW
36
Three Seasons Wealth
Utah
$647K – – –
PWMG
37
Pinnacle Wealth Management Group
Michigan
$620K -$20.7K -480 -3%
AAS
38
Avantax Advisory Services
Texas
$597K – – –
BPA
39
Beacon Pointe Advisors
California
$592K +$7.5K +174 +1%
CPIG
40
Chicago Partners Investment Group
Illinois
$584K -$141K -3,270 -19%
AAP
41
Arax Advisory Partners
Colorado
$571K -$6.68K -155 -1%
CPA
42
Clear Point Advisors
New York
$570K – – –
Janney Montgomery Scott
43
Janney Montgomery Scott
Pennsylvania
$559K +$14K +325 +2%
BFA
44
Beacon Financial Advisory
Ohio
$542K – – –
BMM
45
Berkshire Money Management
Massachusetts
$530K – – –
RA
46
RFG Advisory
Alabama
$526K -$13K -302 -2%
HI
47
Harbour Investments
Wisconsin
$525K -$20.8K -482 -4%
BA
48
Bellwether Advisors
Nebraska
$517K – – –
WWA
49
WCG Wealth Advisors
Nevada
$509K +$525K +12,186 New
LSA
50
Lion Street Advisors
Texas
$495K -$197K -4,573 -28%
1
2
3 4 5

BSEP Hedge Fund Activity: Q1 2025 in Review

97 of the 7,461 institutional investors tracked by Wall St. Rank reported a position in Innovator US Equity Buffer ETF September (BSEP) for Q1 2025, worth a combined $116M — down 20% from $146M a quarter earlier.

Sellers outnumbered buyers: 13 funds closed out of BSEP and 5 opened new positions — a net loss of 8 holders — while 36 trimmed existing stakes and 15 added.

The largest buyer was Osaic Holdings, adding an estimated $3.27M. The largest seller was Brookstone Capital Management, cutting an estimated $20.3M.

  • 97 institutional investors held Innovator US Equity Buffer ETF September (BSEP) as of Q1 2025, down from 107 in Q4 2024.
  • Funds reported $116M of Innovator US Equity Buffer ETF September stock for Q1 2025, down 20% quarter-over-quarter.
  • 5 funds opened new Innovator US Equity Buffer ETF September positions in Q1 2025 and 13 closed out, a net change of -8 holders.
  • The largest Innovator US Equity Buffer ETF September buyer in Q1 2025 was Osaic Holdings, an estimated $3.27M added.
  • The largest Innovator US Equity Buffer ETF September seller in Q1 2025 was Brookstone Capital Management, an estimated $20.3M sold.

Based on aggregated 13F filings for Q1 2025.