# EDGAR Filing Document

**Accession Number:** 0001415726
**File Stem:** 0000894189-25-008564
**Filing Date:** 2025-9
**Character Count:** 18058
**Document Hash:** b246db5ccfd9c48c34669721ec9a4c62
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-25-008564.hdr.sgml**: 20250924

**ACCESSION NUMBER**: 0000894189-25-008564

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250924

**DATE AS OF CHANGE**: 20250924

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Innovator ETFs Trust
- **CENTRAL INDEX KEY:** 0001415726

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22135
- **FILM NUMBER:** 251337377

**BUSINESS ADDRESS:**
- **STREET 1:** 200 W. FRONT STREET
- **CITY:** WHEATON
- **STATE:** IL
- **ZIP:** 60187
- **BUSINESS PHONE:** 800-621-1675

**MAIL ADDRESS:**
- **STREET 1:** 200 W. FRONT STREET
- **CITY:** WHEATON
- **STATE:** IL
- **ZIP:** 60187

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** INNOVATOR ETFS TRUST
- **DATE OF NAME CHANGE:** 20170825

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Academy Funds Trust
- **DATE OF NAME CHANGE:** 20071019

## Series and Classes Contracts Data

### Innovator Laddered Allocation Power Buffer ETF (Series ID: S000073679)

| Class ID   | Class Name                                     | Ticker Symbol   |
|:---|:---|:---|
| C000230751 | Innovator Laddered Allocation Power Buffer ETF |  |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Innovator Laddered Allocation Power Buffer ETF** | **Innovator Laddered Allocation Power Buffer ETF** | **Innovator Laddered Allocation Power Buffer ETF** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **July 31, 2025 (Unaudited)** | **July 31, 2025 (Unaudited)** | **July 31, 2025 (Unaudited)** |
| **AFFILIATED EXCHANGE TRADED FUNDS - 99.9%** | **Shares** | **Value** |
| Innovator U.S. Equity Power Buffer ETF - April <sup>(a)(b)(c)</sup> | 1593074 | $59947375 |
| Innovator U.S. Equity Power Buffer ETF - August <sup>(a)(c)</sup> | 1496398 | 61756345 |
| Innovator U.S. Equity Power Buffer ETF - December <sup>(a)(c)</sup> | 1504941 | 61070506 |
| Innovator U.S. Equity Power Buffer ETF - February <sup>(a)(c)</sup> | 1583523 | 61060647 |
| Innovator U.S. Equity Power Buffer ETF - January <sup>(a)(c)</sup> | 1370030 | 61117038 |
| Innovator U.S. Equity Power Buffer ETF - July <sup>(a)(b)(c)</sup> | 1407241 | 62382994 |
| Innovator U.S. Equity Power Buffer ETF - June <sup>(a)(c)</sup> | 1533194 | 61608335 |
| Innovator U.S. Equity Power Buffer ETF - March <sup>(a)(c)</sup> | 1422391 | 60835663 |
| Innovator U.S. Equity Power Buffer ETF - May <sup>(a)(b)(c)</sup> | 1587159 | 60454886 |
| Innovator U.S. Equity Power Buffer ETF - November <sup>(a)(c)</sup> | 1522678 | 60976097 |
| Innovator U.S. Equity Power Buffer ETF - October <sup>(a)(c)</sup> | 1457899 | 61100547 |
| Innovator U.S. Equity Power Buffer ETF - September <sup>(a)(c)</sup> | 1471819 | 61154079 |
| **TOTAL AFFILIATED EXCHANGE TRADED FUNDS** (Cost $643,592,138) | **TOTAL AFFILIATED EXCHANGE TRADED FUNDS** (Cost $643,592,138) | 733464512 |
| **SHORT-TERM INVESTMENTS - 0.4%** |  | **Value**  |
| **Investments Purchased with Proceeds from Securities Lending - 0.4%** | **<u>Units</u>** |  |
| Mount Vernon Liquid Assets Portfolio, LLC, 4.58%<sup>(d)</sup> | 3198350 | 3198350 |
| **TOTAL SHORT-TERM INVESTMENTS** (Cost $3,198,350) | **TOTAL SHORT-TERM INVESTMENTS** (Cost $3,198,350) | 3198350 |
| **TOTAL INVESTMENTS - 100.3% (**Cost $646,790,488**)** | **TOTAL INVESTMENTS - 100.3% (**Cost $646,790,488**)** | 736662862 |
| Money Market Deposit Account - 0.2% <sup>(e)</sup> | Money Market Deposit Account - 0.2% <sup>(e)</sup> | 1205807 |
| Liabilities in Excess of Other Assets - (0.5)% | Liabilities in Excess of Other Assets - (0.5)% | (3211816) |
| **TOTAL NET ASSETS - 100.0%** |  | $734656853 |
| two | two | –% |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. | –% |

---

LLC - Limited Liability Company<br>

(a) Non-income producing security.

(b) All or a portion of this security is on loan as of July 31, 2025. The fair value of these securities was $3,120,491.

(c) Affiliated security as defined by the Investment Company Act of 1940.

(d) The rate shown represents the 7-day annualized effective yield as of July 31, 2025.

(e) The U.S. Bank Money Market Deposit Account (the "MMDA") is a short-term vehicle in which the Fund holds cash balances. The MMDA
 will bear interest at a variable rate that is determined based on market conditions and is subject to change daily. The rate as of July 31, 2025 was 4.20%.

------

#### Summary of Fair Value Disclosure as of July 31, 2025 (Unaudited)
Innovator Laddered Allocation Power Buffer ETF (the "Fund") has adopted fair value accounting standards which establish a definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or valuation methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.

Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.

Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund's own assumptions about the assumptions a market participant would use in valuing the asset or liability, and based on the best information available.

The following is a summary of the fair valuation hierarchy of the Fund's securities as of July 31, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| **Assets:** | | | | |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Affiliated Exchange Traded Funds | $733464512 | $– | $– | $733464512 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Investments Purchased with Proceeds from Securities Lending<sup>(a)</sup> | – | – | – | 3198350 |
| Total Investments | $733464512 | $– | $– | $736662862 |
| Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. |

---

(a) Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient
 have not been categorized in the fair value hierarchy. The fair value amount of $3,198,350 presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts listed in the Schedule of Investments.

**Allocation of Portfolio Holdings as of July 31, 2025**<br> **(% of Net Assets)** <br>

---

| | | |
|:---|:---|:---|
| Affiliated Exchange Traded Funds | $733464512 | 99.9% |
| Investments Purchased with Proceeds from Securities Lending | 3198350 | 0.4 |
| Money Market Deposit Account | 1205807 | 0.2 |
| Liabilities in Excess of Other Assets | (3211816) | (0.5) |
|  | $**734656853** | 100.0<br> **%** |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Transactions with Affiliates** | | | | | | | | |
| BUFF has the following transactions during the period ended July 31, 2025 with affiliated companies: | BUFF has the following transactions during the period ended July 31, 2025 with affiliated companies: | BUFF has the following transactions during the period ended July 31, 2025 with affiliated companies: |  |  |  |  |  |  |
|  |  |  |  |  | **Period Ended July 31, 2025** | **Period Ended July 31, 2025** | **Period Ended July 31, 2025** | **Period Ended July 31, 2025** |
| **Security Name** | **Value as of**<br> **November 1, 2024** | **Purchases** | **Sales** | **Value as of** <br> **July 31, 2025** | **Share Balance** | **Dividend Income** | **Net Realized**<br>**Gain (Loss) on**<br> **Sale of Shares** | **Net Change in Unrealized <br> Appreciation (Depreciation)** |
| Innovator U.S. Equity Power Buffer ETF - January | $40342291 | $22823846 | $5986863 | $61117038 | 1370030 | $- | $1425450 | $2512314 |
| Innovator U.S. Equity Power Buffer ETF - February | 40276143 | 23017234 | 5798863 | 61060647 | 1583523 | - | 1293607 | 2272526 |
| Innovator U.S. Equity Power Buffer ETF - March | 40111318 | 22871796 | 6543664 | 60835663 | 1422391 | - | 1292047 | 3104166 |
| Innovator U.S. Equity Power Buffer ETF - April | 39997046 | 23263354 | 5824987 | 59947375 | 1593074 | - | 1271168 | 1240794 |
| Innovator U.S. Equity Power Buffer ETF - May | 40222127 | 22831200 | 6494011 | 60454886 | 1587159 | - | 1135261 | 2760309 |
| Innovator U.S. Equity Power Buffer ETF - June | 40109672 | 22941008 | 5976124 | 61608335 | 1533194 | - | 1084522 | 3449257 |
| Innovator U.S. Equity Power Buffer ETF - July | 39931091 | 23107738 | 5818307 | 62382994 | 1407241 | - | 1579460 | 3583012 |
| Innovator U.S. Equity Power Buffer ETF - August | 39953058 | 22835352 | 5809374 | 61756345 | 1496398 | - | 1427268 | 3350041 |
| Innovator U.S. Equity Power Buffer ETF - September | 39959973 | 22776469 | 5805142 | 61154079 | 1471819 | - | 1458679 | 2764100 |
| Innovator U.S. Equity Power Buffer ETF - October | 39841715 | 22915612 | 5801853 | 61100547 | 1457899 | - | 1486675 | 2658398 |
| Innovator U.S. Equity Power Buffer ETF - November | 40485708 | 22946808 | 6362820 | 60976097 | 1522678 | - | 1172302 | 2734099 |
| Innovator U.S. Equity Power Buffer ETF - December | 40513758 | 23335714 | 5752878 | 61070506 | 1504941 | - | 1219217 | 1754695 |
| **Total** |  |  |  | $733464512 |  |  | $15845656 | $32183711 |

---

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Innovator ETFs Trust

- **b. Investment Company Act file number:** 811-22135

- **c. CIK number of Registrant:** 0001415726

- **d. LEI of Registrant:** 549300MFJRNH6TF8OL20

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 200 W. Front Street

  - **City:** Wheaton

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60187

  - **Telephone number:** 800-208-5212

**Item A.2. Information about the Series.**

- **a. Name of Series:** Innovator Laddered Allocation Power Buffer ETF

- **b. EDGAR series identifier (if any):** S000073679

- **c. LEI of Series:** 549300059DFJC42IV140

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-07-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $735536933.43

**Total Liabilities:** $5635697.28

**Net Assets:** $729901236.15

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000230751 | 3.80%                | 2.87%                | 1.30%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1421.23                 | $22064337.77                               |
| Month 2  | $1610078.37              | $17403043.50                               |
| Month 3  | $0.00                    | $9329868.23                                |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                                      | Title                                              | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Innovator U.S. Equity Power Bu            | Innovator U.S. Equity Power Buffer ETF - May       | CUSIP: 45782C318<br>LEI: 549300V5LVD8Z4MBWV67 | Long             | EC               | RF                | US        |   1576887 | NS      | $60063625.83  | 8.23%             |  |  |  | No            |                  1 | On Loan: —       |
| Innovator U.S. Equity Power Bu            | Innovator U.S. Equity Power Buffer ETF - March     | CUSIP: 45782C383<br>LEI: 549300LI2UXU313PAS05 | Long             | EC               | RF                | US        |   1413185 | NS      | $60441922.45  | 8.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Innovator U.S. Equity Power Bu            | Innovator U.S. Equity Power Buffer ETF - February  | CUSIP: 45782C417<br>LEI: 549300KKER743WGS8602 | Long             | EC               | RF                | US        |   1573275 | NS      | $60665484.00  | 8.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Innovator U.S. Equity Power Bu            | Innovator U.S. Equity Power Buffer ETF - January   | CUSIP: 45782C508<br>LEI: 549300ROMN6CHSCBOM68 | Long             | EC               | RF                | US        |   1361164 | NS      | $60721526.04  | 8.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Innovator U.S. Equity Power Bu            | Innovator U.S. Equity Power Buffer ETF - December  | CUSIP: 45782C540<br>LEI: 549300ZAEIRVLHKS5W61 | Long             | EC               | RF                | US        |   1495201 | NS      | $60675256.58  | 8.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Innovator U.S. Equity Power Bu            | Innovator U.S. Equity Power Buffer ETF - November  | CUSIP: 45782C573<br>LEI: 549300UM6R4DYWWUSK93 | Long             | EC               | RF                | US        |   1512824 | NS      | $60581490.93  | 8.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Innovator U.S. Equity Power Bu            | Innovator U.S. Equity Power Buffer ETF - October   | CUSIP: 45782C797<br>LEI: 549300PXPWH1NF5B5H38 | Long             | EC               | RF                | US        |   1448463 | NS      | $60705084.33  | 8.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Innovator U.S. Equity Power Bu            | Innovator U.S. Equity Power Buffer ETF - July      | CUSIP: 45782C813<br>LEI: 549300PJS2HKPCRBN519 | Long             | EC               | RF                | US        |   1398133 | NS      | $61979235.89  | 8.49%             |  |  |  | No            |                  1 | On Loan: —       |
| Innovator U.S. Equity Power Bu            | Innovator U.S. Equity Power Buffer ETF - April     | CUSIP: 45782C870<br>LEI: 549300Y2HP4DUKYGEC18 | Long             | EC               | RF                | US        |   1582764 | NS      | $59559409.32  | 8.16%             |  |  |  | No            |                  1 | On Loan: —       |
| US BANK MMDA - USBGFS 9                   | US BANK MMDA - USBGFS 9                            | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | RF                | US        |   1201712 | NS      | $1201712.21   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Mount Vernon Liquid Assets Portfolio, LLC | Mount Vernon Liquid Assets Portfolio, LLC          | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | PF                | US        |   3198350 | NS      | $3198350.00   | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| Innovator U.S. Equity Power Bu            | Innovator U.S. Equity Power Buffer ETF - September | CUSIP: 45782C656<br>LEI: 549300AO0TY6BT87ZL59 | Long             | EC               | RF                | US        |   1462293 | NS      | $60758274.15  | 8.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Innovator U.S. Equity Power Bu            | Innovator U.S. Equity Power Buffer ETF - August    | CUSIP: 45782C680<br>LEI: 549300D4FF5UI0WOGK75 | Long             | EC               | RF                | US        |   1486714 | NS      | $61356686.78  | 8.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Innovator U.S. Equity Power Bu            | Innovator U.S. Equity Power Buffer ETF - June      | CUSIP: 45782C748<br>LEI: 5493001KB2SOSLQWTG78 | Long             | EC               | RF                | US        |   1523272 | NS      | $61209638.78  | 8.39%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-22

**Name of Applicant:** Innovator ETFs Trust

**Signature:** /s/ Kathleen Meyer

**Name of Signer:** Innovator ETFs Trust

**Title:** Principal Financial Officer