Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Innovator Etfs Trust (ZSEP)

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

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -1
Streak
1Q ▼
Buyers last Q
27%

Smart Money Signals — ZSEP

Based on 79 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 ZSEP 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 (99% of max)

99% of all-time peak
79 hedge funds hold ZSEP right now — the highest count in 1.8 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.
🚀

Fast accumulation — +52% more funds vs a year ago

fund count last 6Q
+27 new funds entered over the past year (+52% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
🔴

Heavy selling pressure — only 27% buying

14 buying38 selling
Last quarter: 38 funds sold vs only 14 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
⚠️

Fewer new buyers each quarter (-11 vs last Q)

new funds entering per quarter
Funds opening this position for the first time: 7 → 26 → 17 → 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.
🔄

Mostly new holders — 43% entered in last year

■ 0% conviction (2yr+) ■ 57% medium ■ 43% 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.
📊

Peak discovery — momentum slowing

5 → 7 → 26 → 17 → 6 new funds/Q
New funds entering each quarter: 7 → 26 → 17 → 6. ZSEP is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
📊

Mixed cohorts — 0% veterans, 48% new entrants

■ 0% veterans ■ 52% 1-2yr ■ 48% new
Of 79 current holders: 0 (0%) held 2+ years, 41 held 1–2 years, 38 (48%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
✅

Strong quality — 21% AUM from major funds

21% from top-100 AUM funds
7 of 79 holders rank in the top 100 by AUM, accounting for 21% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
5.8
out of 10
Moderate Exit Risk
Exit risk score 5.8/10 — 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 — ZSEP

In 2026 Q1, 14 hedge funds were net buyers of ZSEP (6 opened a new position, 8 added to an existing one), while 38 reduced or exited (31 trimmed, 7 sold completely) — a 27% buyer ratio, indicating net institutional distribution. 21% of total institutional value in ZSEP is held by top-100 AUM funds, reflecting strong institutional quality. Net fund flow last quarter: -1 funds (more exits than new entries). Total institutional holders: 79.

Hedge Fund Ownership: ZSEP

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

Market Analysis: ZSEP

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: ZSEP

-- --

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

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

Signal Freshness measures how much ZSEP 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 · 85d ago
ZSEP
+2.8%
SPY
+14.9%

ZSEP outperformed SPY by -12.1% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 40d ago
ZSEP
+0.5%
SPY
+1.1%

Since the filing became public, ZSEP outperformed SPY by -0.6% .

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 0 high-conviction
Consensus
1.3
/ 10
breadth
×
Elite
1.0
/ 10
conviction
Hedge Fund Positioning: ZSEP
79 + Investors

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

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 79 80 -1.25%
13F Shares 3M 3M 0.21%
Total Value $83M $84M -0.82%
New Positions 6 17 -11
Increased Positions 8 10 -2
Closed Positions 7 12 -5
Reduced Positions 31 27 +4
Total Calls 0 0 -
Total Puts 0 0 -
PUT/CALL Ratio 0.0 0.0 Bullish

Statistics: ZSEP

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Beta (5Y Monthly) --
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Short % of Float --

Financial Highlights

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Institutional Holders (2026 Q1)

79 + investors

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

QUARTER:
Top 25 ZSEP holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Integrated Wealth Management 1.16% 37,807 $1.0M
2 Noble Wealth Management PBC 0.98% 72,889 $1.9M
3 Howard Bailey Securities, LLC 0.84% 76,100 $2.0M
4 Centennial Advisors, LLC 0.77% 22,796 $609K
5 FSA Advisors, Inc. 0.55% 31,292 $836K
6 Key Capital Management, INC 0.51% 28,747 $768K
7 TopTier Wealth Management, LLC 0.50% 30,500 $815K
8 Kfg Wealth Management, LLC 0.40% 115,001 $3.1M
9 Three Seasons Wealth, LLC 0.34% 33,056 $883K
10 Brown Wealth Management, LLC 0.23% 34,035 $909K
11 Central Valley Advisors, LLC 0.17% 23,815 $636K
12 Chris Bulman Inc 0.17% 14,457 $386K
13 Aegis Wealth Management, Inc. 0.16% 7,807 $209K
14 Integrity Advisory Solutions, LLC 0.13% 36,454 $974K
15 HFG Wealth Management, LLC 0.12% 8,495 $227K
16 CRA Financial Services, LLC 0.12% 34,835 $931K
17 Signaturefd, LLC 0.12% 282,800 $7.6M
18 WorthPointe, LLC 0.11% 14,681 $392K
19 Csenge Advisory Group 0.11% 85,895 $2.3M
20 Lineweaver Wealth Advisors, LLC 0.10% 26,677 $713K
21 Cypress Wealth Services, LLC 0.08% 21,028 $562K
22 Centaurus Financial, INC. 0.07% 55,973 $1.5M
23 Glen Eagle Advisors, LLC 0.07% 18,082 $483K
24 Commonwealth Financial Services, LLC 0.06% 15,043 $402K
25 Money Concepts Capital Corp 0.06% 42,023 $1.1M
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 (ZSEP)

What does the Smart Money Trend signal show for ZSEP?

Selling streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds reduced or closed their ZSEP 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 ZSEP?

Heavy selling pressure — only 27% buying: Last quarter: 38 funds sold vs only 14 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 ZSEP holders?

Strong quality — 21% AUM from major funds: 7 of 79 holders rank in the top 100 by AUM, accounting for 21% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.

How long have hedge funds held ZSEP?

Mostly new holders — 43% 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.

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

As of today, ZSEP has moved +0.5% since the 2026 Q1 13F filing date (May 15, 2026), compared to +1.1% for the SPY sector ETF — an outperformance of -0.6%. Since the quarter end (March 31, 2026), ZSEP has gained +2.8% vs +14.9% 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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