Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Innovator Etfs Trust (BNOV)

89 + Investors. Track Smart Money conviction in BNOV. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -3
Streak
1Q ▼
Buyers last Q
36%

Smart Money Signals — BNOV

Based on 89 hedge funds · latest filing: 2026 Q1 · updated quarterly

📉

Selling streak — 1 quarter in a row

last 6Q
For 1 consecutive quarter, more hedge funds reduced or closed their BNOV positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🏔️

At the ownership peak (97% of max)

97% of all-time peak
89 hedge funds hold BNOV right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
📶

Steady growth — +9% more funds vs a year ago

fund count last 6Q
+7 new funds entered over the past year (+9% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🔴

Heavy selling pressure — only 36% buying

25 buying45 selling
Last quarter: 45 funds sold vs only 25 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
⚠️

Fewer new buyers each quarter (-14 vs last Q)

new funds entering per quarter
Funds opening this position for the first time: 6 → 6 → 20 → 6. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
🔒

66% of holders stayed for 2+ years

■ 66% conviction (2yr+) ■ 16% medium ■ 18% new
59 out of 89 hedge funds have held BNOV for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
💎

Buying through price weakness — shares +3%, value -17%

Value
-16%
Shares
+2%
Last quarter: funds added +3% more shares while total portfolio value only changed -17%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️

Steady discovery — ~6 new funds/quarter

9 → 6 → 6 → 20 → 6 new funds/Q
New funds entering each quarter: 6 → 6 → 20 → 6. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️

Veteran-anchored — 69% veterans vs 19% newcomers

■ 69% veterans ■ 12% 1-2yr ■ 19% new
Entry-cohort mix of 89 holders: 61 (69%) are 2+ year veterans, 11 entered 1–2 years ago, and 17 (19%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
📋

Smaller funds dominant — 8% AUM from top-100

8% from top-100 AUM funds
6 of 89 holders rank in the top 100 by AUM, but together hold only 8% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
4.2
out of 10
Moderate Exit Risk
Exit risk score 4.2/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — BNOV

In 2026 Q1, 25 hedge funds were net buyers of BNOV (6 opened a new position, 19 added to an existing one), while 45 reduced or exited (36 trimmed, 9 sold completely) — a 36% buyer ratio, indicating net institutional distribution. Net fund flow last quarter: -3 funds (more exits than new entries). Total institutional holders: 89.

Hedge Fund Ownership: BNOV

How many hedge funds hold BNOV — quarterly history vs. share price
Quarterly hedge fund ownership of BNOV vs. share price

Market Analysis: BNOV

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: BNOV

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Is It Too Late to Buy Innovator Etfs Trust (BNOV) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much BNOV has moved relative to its sector benchmark (SPY) since the 2026 Q1 13F filing. A stock that has barely outrun its sector is still a relatively fresh entry point — the fund's thesis has not yet been priced in by the broader market.

Since Quarter End March 31, 2026 · 78d ago
BNOV
+10.2%
SPY
+15.9%

BNOV outperformed SPY by -5.7% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 33d ago
BNOV
+1.9%
SPY
+2.0%

Since the filing became public, BNOV outperformed SPY by -0.1% .

Interpretation: The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference. Learn more →

Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

1 top-rated funds 1 high-conviction
Consensus
1.3
/ 10
breadth
×
Elite
1.8
/ 10
conviction
Hedge Fund Positioning: BNOV
89 + Investors

Track Smart Money conviction in BNOV. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 89 92 -3.26%
13F Shares 4M 4M 2.62%
Total Value $135M $162M -16.6%
New Positions 6 20 -14
Increased Positions 19 37 -18
Closed Positions 9 7 +2
Reduced Positions 36 20 +16
Total Calls 0 0 -
Total Puts 0 0 -
PUT/CALL Ratio 0.0 0.0 Bullish

Statistics: BNOV

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Valuation Measures Data as of: --

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Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

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Institutional Holders (2026 Q1)

89 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in BNOV. Verified SEC 13F-HR filings.

QUARTER:
Top 25 BNOV holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Lantz Financial LLC 2.48% 278,669 $12.0M
2 McAlister, Sweet & Associates, Inc. 2.16% 80,480 $3.5M
3 My Personal CFO, LLC 1.11% 58,940 $2.5M
4 Three Seasons Wealth, LLC 0.89% 53,917 $2.3M
5 Buska Wealth Management, LLC 0.74% 42,849 $1.8M
6 TopTier Wealth Management, LLC 0.57% 21,713 $934K
7 FSA Advisors, Inc. 0.57% 19,976 $859K
8 Integral Investment Advisors, INC. 0.38% 35,285 $1.5M
9 Chris Bulman Inc 0.35% 18,726 $806K
10 Brookstone Capital Management 0.35% 709,252 $30.5M
11 Maltin Wealth Management, Inc. 0.20% 12,236 $526K
12 Weaver Consulting Group 0.18% 17,580 $756K
13 IMG Wealth Management, Inc. 0.15% 5,588 $240K
14 DHJJ Financial Advisors, Ltd. 0.15% 10,318 $444K
15 Beacon Financial Advisory LLC 0.15% 14,934 $643K
16 Corrado Advisors, LLC 0.13% 5,620 $242K
17 Pinnacle Wealth Management Group, Inc. 0.11% 5,325 $229K
18 Fragasso Financial Advisors Inc 0.10% 37,647 $1.6M
19 Berkshire Money Management, Inc. 0.09% 21,410 $921K
20 First Commonwealth Financial Corp /Pa/ 0.09% 12,809 $551K
21 Blue Bell Private Wealth Management, LLC 0.09% 14,175 $610K
22 Diligent Investors, LLC 0.07% 7,000 $301K
23 BCS Wealth Management 0.06% 7,002 $301K
24 WPWealth LLP 0.06% 8,457 $364K
25 Retirement Income Solutions, Inc 0.05% 6,459 $278K
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — Innovator Etfs Trust (BNOV)

What does the Smart Money Trend signal show for BNOV?

Selling streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds reduced or closed their BNOV positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

What is the institutional breadth score for BNOV?

Heavy selling pressure — only 36% buying: Last quarter: 45 funds sold vs only 25 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.

What is the fund quality score for BNOV holders?

Smaller funds dominant — 8% AUM from top-100: 6 of 89 holders rank in the top 100 by AUM, but together hold only 8% of total institutional value. The stock is held primarily by smaller and mid-sized funds.

How long have hedge funds held BNOV?

66% of holders stayed for 2+ years: 59 out of 89 hedge funds have held BNOV for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Is it too late to buy Innovator Etfs Trust (BNOV) following the 2026 Q1 hedge fund 13F filings?

As of today, BNOV has moved +1.9% since the 2026 Q1 13F filing date (May 15, 2026), compared to +2.0% for the SPY sector ETF — an outperformance of -0.1%. Since the quarter end (March 31, 2026), BNOV has gained +10.2% vs +15.9% for SPY. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

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