Innovator 20+ Year Treasury Bond 5 Floor ETF - Quarterly
  
Schedule of Investments
  
January 31, 2026 (Unaudited)
  
   
PURCHASED OPTIONS - 99.8% (a)
  
Notional Amount
    
Contracts
    
Value
 
Call Options - 99.3%
              
iShares 20+ Year Treasury Bond ETF, Expiration: 03/31/2026; Exercise Price: $0.22 (b)(c)(d)
  
$
7,920,117
      
909
    
$
7,839,461
  
                         
Put Options - 0.5%
                  
iShares 20+ Year Treasury Bond ETF, Expiration: 03/31/2026; Exercise Price: $82.80 (b)(c)(d)
    
7,920,117
      
909
      
36,115
  
TOTAL PURCHASED OPTIONS (Cost $7,887,528)
      
7,875,576
  
                         
TOTAL INVESTMENTS - 99.8% (Cost $7,887,528)
      
7,875,576
  
Money Market Deposit Account - 0.3% (e)
      
22,989
  
Liabilities in Excess of Other Assets - (0.1)%
      
(5,046
)
TOTAL NET ASSETS - 100.0%
                  
$
7,893,519
  
           
Percentages are stated as a percent of net assets.
          

(a)
Non-income producing security.
(b)
Held in connection with written option contracts. See Schedule of Written Options for further information.
(c)
Exchange-traded.
(d)
100 shares per contract.
(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 January 31, 2026 was 3.45%.
Summary of Fair Value Disclosure as of January 31, 2026 (Unaudited)
 
Innovator 20+ Year Treasury Bond 5 Floor ETF - Quarterly (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 January 31, 2026:

   
Level 1
    
Level 2
    
Level 3
    
Total
  
Investments:
                        
  Purchased Options
  
$
–
    
$
7,875,576
    
$
–
    
$
7,875,576
  
Total Investments
  
$
–
    
$
7,875,576
    
$
–
    
$
7,875,576
  
   
Refer to the Schedule of Investments for further disaggregation of investment categories.
  


Allocation of Portfolio Holdings as of January 31, 2026
(% of Net Assets)
        

           
Purchased Options
  
$
7,875,576
      
99.8
%
Money Market Deposit Account
    
22,989
      
0.3
  
Liabilities in Excess of Other Assets
    
(5,046
)
    
(0.1
)
   
$
7,893,519
      
100.0
%