Innovator Equity Defined Protection ETF - 1 Yr September
ZSEP
82 hedge funds and large institutions have $82.7M invested in Innovator Equity Defined Protection ETF - 1 Yr September in 2025 Q4 according to their latest regulatory filings, with 16 funds opening new positions, 10 increasing their positions, 29 reducing their positions, and 11 closing their positions.
45% more first-time investments, than exits
New positions opened: 16 | Existing positions closed: 11
5% more funds holding
Funds holding: 78 → 82 (+4)
12.12% less ownership
Funds ownership: 70.09% → 57.97% (-12%)
66% less repeat investments, than reductions
Existing positions increased: 10 | Existing positions reduced: 29
67% less capital inflows, than outflows
Capital inflows: $8.75M | Capital outflows: $26.9M
100% less funds holding in top 10
Funds holding in top 10: 1 → 0 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
BWM
Brown Wealth Management
Naperville,
Illinois
|
+$1.06M |
| 2 |
Morgan Stanley
New York
|
+$757K |
| 3 |
Raymond James Financial
St Petersburg,
Florida
|
+$756K |
| 4 |
OMC
Old Mission Capital
Chicago,
Illinois
|
+$621K |
| 5 |
JP Morgan Chase
New York
|
+$514K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Envestnet Asset Management
Chicago,
Illinois
|
-$12.2M |
| 2 |
AWA
Authentikos Wealth Advisory
Morgan Hill,
California
|
-$4.42M |
| 3 |
SC
Syon Capital
San Francisco,
California
|
-$2.16M |
| 4 |
NWMP
Noble Wealth Management PBC
Greenwood Village,
Colorado
|
-$1.49M |
| 5 |
Jane Street
New York
|
-$1.28M |
ZSEP Hedge Fund Activity: Q4 2025 in Review
82 of the 8,287 institutional investors tracked by Wall St. Rank reported a position in Innovator Equity Defined Protection ETF - 1 Yr September (ZSEP) for Q4 2025, worth a combined $82.7M — down 18% from $100M a quarter earlier.
Buyers outnumbered sellers: 16 funds opened new ZSEP positions and 11 closed out — a net gain of 5 holders — while 10 added to existing stakes and 29 trimmed.
The largest buyer was Brown Wealth Management, opening a new position worth an estimated $1.06M. The largest seller was Envestnet Asset Management, cutting an estimated $12.2M.
- 82 institutional investors held Innovator Equity Defined Protection ETF - 1 Yr September (ZSEP) as of Q4 2025, up from 78 in Q3 2025.
- Funds reported $82.7M of Innovator Equity Defined Protection ETF - 1 Yr September stock for Q4 2025, down 18% quarter-over-quarter.
- 16 funds opened new Innovator Equity Defined Protection ETF - 1 Yr September positions in Q4 2025 and 11 closed out, a net change of +5 holders.
- The largest Innovator Equity Defined Protection ETF - 1 Yr September buyer in Q4 2025 was Brown Wealth Management, an estimated $1.06M added.
- The largest Innovator Equity Defined Protection ETF - 1 Yr September seller in Q4 2025 was Envestnet Asset Management, an estimated $12.2M sold.
Based on aggregated 13F filings for Q4 2025.