Brookstone Capital Discloses 9.95% Holding in Innovator U.S. Equity Ultra Buffer ETF

Rhea-AI Filing Summary

Brookstone Capital Management, LLC reports beneficial ownership of 802,312 shares of the Innovator U.S. Equity Ultra Buffer ETF - December (CUSIP 45782C532), representing 9.95% of the class. The filing shows Brookstone has shared voting and shared dispositive power over all 802,312 shares and no sole voting or dispositive power, and the filing is submitted as a Schedule 13G/A.

The statement indicates the holdings are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer. The report identifies Brookstone as an investment adviser organized in the United States and provides addresses for the filer and the issuer.

Insights

Financial Analyst

TL;DR: A sub-10% passive stake (9.95%) in the ETF is material but consistent with 13G passive disclosure.

Brookstone's 9.95% reported stake is above 5%, which requires public disclosure and may be meaningful for shareholder composition analysis of this ETF share class. The Schedule 13G classification and the certification that holdings are held in the ordinary course of business indicate the position is presented as passive rather than an activist intent. Shared voting and dispositive power over the full stake suggests Brookstone exercises decision-making with others or via pooled accounts rather than unilateral control.

Corporate Governance Expert

TL;DR: The filing signals a significant disclosure but no claim of control or change-in-control intent.

Because Brookstone disclaims beneficial ownership beyond the accounts and states the position is not for influencing control, this 13G filing aligns with routine institutional reporting requirements. The near-10% level is notable for governance monitoring but, absent statements of intent or Form 13D-style disclosures, it does not by itself imply governance action or a change in board/control dynamics.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 4)

Innovator ETFs Trust

(Name of Issuer)

Innovator U.S. Equity Ultra Buffer ETF - December

(Title of Class of Securities)

45782C532

(CUSIP Number)

08/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 45782C532

1

Names of Reporting Persons

Brookstone Capital Management, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 802,312.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 802,312.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

802,312.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

9.95 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Innovator ETFs Trust
(b)	Address of issuer's principal executive offices: 109 North Hale Street, Wheaton, ILLINOIS 60187
Item 2.
(a)	Name of person filing: Brookstone Capital Management, LLC
(b)	Address or principal business office or, if none, residence: 1745 S. Naperville Rd, Suite 200 Wheaton, IL 60189
(c)	Citizenship: United States
(d)	Title of class of securities: Innovator U.S. Equity Ultra Buffer ETF - December
(e)	CUSIP No.: 45782C532
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 802,312
(b)	Percent of class: 9.95 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 802,312
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 802,312
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. The accounts described in Item 4 have the right to receive or the power to direct receipt of dividends from, or the proceeds from the sale of the securities held in their respective accounts. Brookstone disclaims beneficial ownership of all such securities.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Brookstone Capital Management, LLC

Signature:	/s/ Matt Lovett
Name/Title:	Chief Compliance Officer
Date:	09/03/2025

FAQ

How many Innovator U.S. Equity Ultra Buffer ETF - December (SFLR) shares does Brookstone report owning?

Brookstone reports beneficial ownership of 802,312 shares.

What percentage of the class does Brookstone's position represent in this Schedule 13G/A?

The reported position represents 9.95% of the class.

Does Brookstone claim sole voting or dispositive power over the shares?

No. The filing reports 0 sole voting power and 0 sole dispositive power; all voting and dispositive power is reported as shared (802,312 shares).

Is the position reported as passive or intended to influence control of the issuer?

The filing certifies the securities are held in the ordinary course of business and were not acquired to change or influence control.

Who signed the filing and when was it signed?

The filing is signed by Matt Lovett, Chief Compliance Officer for Brookstone Capital Management, LLC on 09/03/2025.