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Innovator US Equity Power Buffer ETF April
PAPR

231 hedge funds and large institutions have $611M invested in Innovator US Equity Power Buffer ETF April in 2025 Q4 according to their latest regulatory filings, with 36 funds opening new positions, 42 increasing their positions, 96 reducing their positions, and 15 closing their positions.

New
Increased
Maintained
Reduced
Closed

140% more first-time investments, than exits

New positions opened: 36 | Existing positions closed: 15

100% more funds holding in top 10

Funds holding in top 10: 1 → 2 (+1)

9% more funds holding

Funds holding: 212 → 231 (+19)

3.13% more ownership

Funds ownership: 75.17% → 78.3% (+3.1%)

1% less capital invested

Capital invested by funds: $619M → $611M (-$8.22M)

56% less repeat investments, than reductions

Existing positions increased: 42 | Existing positions reduced: 96

Holders
231
Holders Change
+19
Holders Change %
+8.96%
% of All Funds
2.81%
Holding in Top 10
2
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+100%
% of All Funds
0.02%
New
36
Increased
42
Reduced
96
Closed
15
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
Focus Partners Wealth
Focus Partners Wealth
Massachusetts
+$9.9M
2
SL
Sentinus LLC
Illinois
+$4.88M
3
SAW
Signal Advisors Wealth
Michigan
+$4.06M
4
BWM
BCS Wealth Management
Tennessee
+$1.79M
5
WIA
World Investment Advisors
California
+$1.71M

Top Sellers

1
Jane Street
Jane Street
New York
-$15.5M
2
Kovitz Investment Group Partners
Kovitz Investment Group Partners
Illinois
-$10.2M
3
FIA
Foundations Investment Advisors
Arizona
-$5.08M
4
KWM
KFG Wealth Management
Indiana
-$3.98M
5
BAM
Belpointe Asset Management
Nevada
-$3.54M
Name Holding Trade Value Shares
Change 		Change in
Stake
Bank of Montreal
226
Bank of Montreal
Ontario, Canada
$11.3K – – –
CFS
227
Compass Financial Services
Iowa
$7.32K – – –
MI
228
Motiv8 Investments
Florida
$5.77K -$1.76M -45,455 -24%
GWM
229
Gilpin Wealth Management
Colorado
$3.91K +$3.87K +100 New
RIL
230
Rothschild Investment LLC
Illinois
$3.6K – – –
OSAM
231
O'Shaughnessy Asset Management
Connecticut
$978 -$155 -4 -14%
Jane Street
232
Jane Street
New York
– -$15.5M -403,965 Closed
Kovitz Investment Group Partners
233
Kovitz Investment Group Partners
Illinois
– -$10.2M -266,564 Closed
BWM
234
Brown Wealth Management
Illinois
– -$1.67M -43,646 Closed
MIM
235
Macroview Investment Management
Maryland
– -$1.3M -33,773 Closed
SCA
236
Snowden Capital Advisors
New York
– -$570K -14,866 Closed
SB
237
Strategic Blueprint
Georgia
– -$479K -12,474 Closed
LBC
238
Leigh Baldwin & Co
New York
– -$433K -11,300 Closed
APP
239
Avantax Planning Partners
Iowa
– -$286K -7,458 Closed
AWAG
240
ARS Wealth Advisors Group
Florida
– -$258K -6,719 Closed
OMC
241
Old Mission Capital
Illinois
– -$227K -5,924 Closed
CFP
242
Cypress Financial Planning
New Jersey
– -$222K -5,785 Closed
SF
243
Summit Financial
New Jersey
– -$206K -5,379 Closed
JFG
244
JDM Financial Group
Texas
– -$146K -3,808 Closed
Royal Bank of Canada
245
Royal Bank of Canada
Ontario, Canada
– -$12.9K -333 -97%
Northwestern Mutual Wealth Management
246
Northwestern Mutual Wealth Management
Wisconsin
– -$6.37K -166 Closed
6 7 8 9
10

PAPR Hedge Fund Activity: Q4 2025 in Review

231 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in Innovator US Equity Power Buffer ETF April (PAPR) for Q4 2025, worth a combined $611M — down 1.3% from $619M a quarter earlier.

Buyers outnumbered sellers: 36 funds opened new PAPR positions and 15 closed out — a net gain of 21 holders — while 42 added to existing stakes and 96 trimmed.

The largest buyer was Focus Partners Wealth, adding an estimated $9.9M. The largest seller was Jane Street, exiting entirely with an estimated $15.5M sold.

  • 231 institutional investors held Innovator US Equity Power Buffer ETF April (PAPR) as of Q4 2025, up from 212 in Q3 2025.
  • Funds reported $611M of Innovator US Equity Power Buffer ETF April stock for Q4 2025, down 1.3% quarter-over-quarter.
  • 36 funds opened new Innovator US Equity Power Buffer ETF April positions in Q4 2025 and 15 closed out, a net change of +21 holders.
  • The largest Innovator US Equity Power Buffer ETF April buyer in Q4 2025 was Focus Partners Wealth, an estimated $9.9M added.
  • The largest Innovator US Equity Power Buffer ETF April seller in Q4 2025 was Jane Street, an estimated $15.5M sold.

Based on aggregated 13F filings for Q4 2025.