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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
AF
51
Advisornet Financial
Minnesota
$2.45M -$39.5K -1,023 -2%
W
52
WPWealth
Texas
$2.42M -$954K -24,691 -28%
FFA
53
Farther Finance Advisors
California
$2.41M -$52.2K -1,351 -2%
Wealth Enhancement Advisory Services
54
Wealth Enhancement Advisory Services
Minnesota
$2.28M -$655K -16,953 -23%
CA
55
COFG Advisors
Illinois
$2.25M +$2.22M +57,545 New
CW
56
CreativeOne Wealth
Kansas
$2.13M +$61.3K +1,587 +3%
EMAM
57
Encompass More Asset Management
California
$2.02M +$6.8K +176 +0.3%
RCWM
58
Red Crane Wealth Management
California
$1.89M – – –
NA
59
NewEdge Advisors
Louisiana
$1.89M +$5.61K +145 +0.3%
SWA
60
SFMG Wealth Advisors
Texas
$1.87M -$68.2K -1,764 -4%
OIA
61
OneDigital Investment Advisors
Kansas
$1.85M -$186K -4,809 -9%
W
62
WorthPointe
California
$1.8M – – –
AI
63
Atria Investments
North Carolina
$1.79M +$119K +3,080 +7%
MA
64
Mutual Advisors
Nebraska
$1.75M -$56.1K -1,452 -3%
VPF
65
Vantage Point Financial
Illinois
$1.73M +$165K +4,257 +11%
TF
66
Trek Financial
Arizona
$1.71M -$184K -4,750 -10%
CAPTRUST Financial Advisors
67
CAPTRUST Financial Advisors
North Carolina
$1.65M – – –
CF
68
Centaurus Financial
California
$1.58M +$65.5K +1,695 +4%
BWS
69
BFI Wealth Solutions
Texas
$1.57M +$1.55M +40,110 New
BEI
70
Benjamin Edwards Inc
Missouri
$1.56M -$18.7K -483 -1%
AWM
71
Apollon Wealth Management
South Carolina
$1.52M +$9.78K +253 +0.7%
VA
72
Valmark Advisers
Ohio
$1.5M – – –
EWM
73
Evermay Wealth Management
Virginia
$1.48M -$5.03K -130 -0.3%
FFG
74
Fortune Financial Group
Florida
$1.46M +$1.27M +32,971 New
PWA
75
Prairie Wealth Advisors
Nebraska
$1.45M -$1.5M -38,766 Closed
1 2
3
4 5

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.