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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
ACM
126
AlphaStar Capital Management
North Carolina
$641K +$634K +16,392 New
PSCM
127
Per Stirling Capital Management
Texas
$638K – – –
AWP
128
Ascent Wealth Partners
New York
$631K – – –
FFG
129
Fiduciary Financial Group
California
$625K – – –
AWA
130
Arkadios Wealth Advisors
Georgia
$614K -$94.2K -2,437 -13%
SW
131
Schulz Wealth
Texas
$607K – – –
SWM
132
SeaCrest Wealth Management
New York
$595K -$193K -5,000 -25%
Mariner
133
Mariner
Kansas
$577K – – –
CFG
134
Chapman Financial Group
Hawaii
$576K -$18.9K -488 -3%
OCM
135
Orion Capital Management
California
$573K -$3.87K -100 -0.7%
NFG
136
Nations Financial Group
Iowa
$561K +$3.4K +88 +0.6%
WP
137
WealthPLAN Partners
Nebraska
$561K +$554K +14,341 New
JSL
138
JT Stratford LLC
Georgia
$559K -$27.5K -712 -5%
PNC Financial Services Group
139
PNC Financial Services Group
Pennsylvania
$553K – – –
FCP
140
Fidelis Capital Partners
Florida
$549K – – –
T
141
TrustBank
Illinois
$539K +$532K +13,768 New
FFN
142
Focus Financial Network
Minnesota
$534K -$40K -1,034 -7%
RIS
143
Retirement Income Solutions
Michigan
$530K – – –
KWS
144
Keystone Wealth Services
California
$529K +$31.8K +823 +6%
BRPW
145
Ballast Rock Private Wealth
South Carolina
$510K +$504K +13,025 New
CAG
146
Compass Advisory Group
New York
$502K – – –
AIA
147
AssuredPartners Investment Advisors
Florida
$501K +$82.6K +2,137 +20%
SFA
148
Sequoia Financial Advisors
Ohio
$485K +$16.2K +420 +4%
AGWCA
149
Annis Gardner Whiting Capital Advisors
Florida
$469K -$207K -5,350 -31%
WTFG
150
Wood Tarver Financial Group
Idaho
$469K -$1.55K -40 -0.3%
4 5
6
7 8

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.