INNOVATOR ETFS TRUST (ZMAY): Hedge Fund Ownership & Smart Money Signals (Q4 2025)

INNOVATOR ETFS TRUST (ZMAY)

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

Smart Money Signals — ZMAY

Based on 24 hedge funds · latest filing: 2025 Q4 · updated quarterly

📈

Buying streak — 3 quarters in a row

last 3Q

For 3 consecutive quarters, more hedge funds added ZMAY than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.

🏔️

At the ownership peak (100% of max)

100% of all-time peak

24 hedge funds hold ZMAY right now — the highest count in 1.0 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.

🔴

Heavy selling pressure — only 27% buying

4 buying11 selling

Last quarter: 11 funds sold vs only 4 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.

➡️

Steady new buyers — ~2 new funds per quarter

new funds entering per quarter

Funds opening this position for the first time: 19 → 5 → 2. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.

🔄

Mostly new holders — 96% entered in last year

■ 0% conviction (2yr+) ■ 4% medium ■ 96% new

Only 0 funds (0%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.

⚠️

Saturation — most institutions already know this story

19 → 5 → 2 new funds/Q

New funds entering each quarter: 19 → 5 → 2. Far fewer institutions are entering now vs. a year ago. When the pool of potential new buyers shrinks this fast, future price support from institutional inflows weakens significantly.

🌱

Early stage — 96% of holders entered in last year

■ 4% veterans ■ 0% 1-2yr ■ 96% new

Of 24 current holders: 23 (96%) entered in the past year, only 1 (4%) are 2+ year veterans. This is an early-phase institutional idea — still being discovered. High upside potential if the thesis plays out, but thin conviction base.

📋

Smaller funds dominant — 0% AUM from top-100

0% from top-100 AUM funds

2 of 24 holders rank in the top 100 by AUM, but together hold only 0% of total institutional value. The stock is held primarily by smaller and mid-sized funds.

8.5

out of 10

High Exit Risk

Exit risk score 8.5/10 — multiple crowding signals converge. Institutional ownership is at 100% of its all-time high — near peak crowding. Selling pressure exceeds buying: only 27% of active funds buying. Crowded trades can unwind fast — a single catalyst can trigger a cascade.

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.

Metric	All 13F Filers (2025 Q4)	Prior (2025 Q3)	Change
Funds Holding	24	23	4.35%
13F Shares	723K	510K	41.94%
Total Value	$18M	$13M	43.07%
New Positions	2	5	-3
Increased Positions	2	3	-1
Closed Positions	1	2	-1
Reduced Positions	10	5	+5
Total Calls	0	0	-
Total Puts	0	0	-
PUT/CALL Ratio	0.0	0.0	Bullish

Metric

All 13F Filers (2025 Q4)

Prior (2025 Q3)

Change

Funds Holding

4.35%

13F Shares

723K

510K

41.94%

Total Value

$18M

$13M

43.07%

New Positions

-3

Increased Positions

-1

Closed Positions

-1

Reduced Positions

Total Calls

Total Puts

PUT/CALL Ratio

0.0

Bullish

Institutional Holders (2026 Q1)

24 + investors

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

FILTER:All New Added To Reduced No Change | Overweight >5% | SHOW: Active managers + show index funds

Top 16 institutional holders of ZMAY — 2025 Q4 · Source: SEC Form 13F
#	Investor	% of Portfolio	Shares	Mkt Value
1	WealthCare Asset Management, LLC	6.84%	250,967	$6.4M
2	CENTRAL VALLEY ADVISORS, LLC	0.18%	25,696	$658K
3	EVOLUTION WEALTH MANAGEMENT INC.	0.18%	9,497	$243K
4	Lineweaver Wealth Advisors, LLC	0.12%	34,817	$892K
5	DHJJ Financial Advisors, Ltd.	0.10%	11,693	$299K
6	KINGSWOOD WEALTH ADVISORS, LLC	0.04%	31,224	$800K
7	KFG WEALTH MANAGEMENT, LLC	0.03%	8,508	$218K
8	WealthShield Partners, LLC	0.02%	8,242	$211K
9	Farther Finance Advisors, LLC	0.01%	24,655	$631K
10	Brookstone Capital Management	0.00%	16,529	$423K
11	GILPIN WEALTH MANAGEMENT, LLC	0.00%	200	$5K
12	Kestra Advisory Services, LLC	0.00%	29,001	$743K
13	Concurrent Investment Advisors, LLC	0.00%	9,242	$237K
14	COMMONWEALTH EQUITY SERVICES, LLC	0.00%	43,314	$1.1M
15	CoreCap Advisors, LLC	0.00%	1,029	$26K
16	IFP Advisors, Inc	0.00%	1,026	$26K

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 (ZMAY)

What does the Smart Money Trend signal show for ZMAY?

Buying streak — 3 quarters in a row: For 3 consecutive quarters, more hedge funds added ZMAY than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.

What is the institutional breadth score for ZMAY?

Heavy selling pressure — only 27% buying: Last quarter: 11 funds sold vs only 4 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 ZMAY holders?

Smaller funds dominant — 0% AUM from top-100: 2 of 24 holders rank in the top 100 by AUM, but together hold only 0% of total institutional value. The stock is held primarily by smaller and mid-sized funds.

How long have hedge funds held ZMAY?

Mostly new holders — 96% entered in last year: Only 0 funds (0%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.

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.

Market Cap	--
Enterprise Value	--
Trailing P/E	--
Forward P/E	--
PEG Ratio (5yr expected)	--
Price/Sales (ttm)	--
Price/Book (mrq)	--
Enterprise Value/Revenue	--
Enterprise Value/EBITDA	--
Beta (5Y Monthly)	--
Short Ratio (Days to Cover)	--
Short % of Float	--

Profit Margin	--
Return on Assets (ttm)	--
Return on Equity (ttm)	--

Revenue (ttm)	--
Net Income Avi to Common (ttm)	--
Diluted EPS (ttm)	--
Total Cash (mrq)	--
Total Debt/Equity (mrq)	--
Levered Free Cash Flow (ttm)	--

INNOVATOR ETFS TRUST (ZMAY)

Smart Money Signals — ZMAY

Buying streak — 3 quarters in a row

At the ownership peak (100% of max)

Heavy selling pressure — only 27% buying

Steady new buyers — ~2 new funds per quarter

Mostly new holders — 96% entered in last year

Saturation — most institutions already know this story

Early stage — 96% of holders entered in last year

Smaller funds dominant — 0% AUM from top-100

Hedge Fund Ownership: ZMAY

Market Analysis: ZMAY

Analyst Price Targets

Analyst Recommendations

Stock Performance

Company Profile: ZMAY

Hedge Fund Positioning: ZMAY

Statistics: ZMAY

Valuation Measures Data as of: --

Financial Highlights

Institutional Holders (2026 Q1)

Frequently Asked Questions — INNOVATOR ETFS TRUST (ZMAY)

Welcome to 13Foresight!