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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
Cerity Partners
151
Cerity Partners
New York
$468K – – –
BW
152
BIP Wealth
Georgia
$465K +$460K +11,896 New
SWP
153
Sagespring Wealth Partners
Tennessee
$460K -$8.12K -210 -2%
AAS
154
Ameritas Advisory Services
Nebraska
$457K +$1.2K +31 +0.3%
GSIAS
155
Garden State Investment Advisory Services
New Jersey
$457K – – –
CNWM
156
Clay Northam Wealth Management
California
$450K -$15.5K -400 -3%
SOS
157
Silver Oak Securities
Tennessee
$444K – – –
SVWAG
158
Sound View Wealth Advisors Group
Georgia
$439K -$22.8K -590 -5%
JWCA
159
J.W. Cole Advisors
Florida
$414K – – –
Mercer Global Advisors
160
Mercer Global Advisors
Colorado
$403K +$45.5K +1,177 +13%
MAM
161
Milestone Asset Management
Pennsylvania
$397K -$9.39K -243 -2%
FA
162
Faithward Advisors
Pennsylvania
$375K -$31.2K -808 -8%
GGS
163
Galvin Gaustad & Stein
Arizona
$372K +$368K +9,510 New
CFD
164
Creative Financial Designs
Indiana
$367K – – –
FWIA
165
Fort Washington Investment Advisors
Ohio
$352K -$514K -13,300 -60%
FNWA
166
Financial Network Wealth Advisors
Utah
$347K +$11.8K +306 +4%
AWA
167
Arete Wealth Advisors
Illinois
$341K -$96.6K -2,500 -22%
IIA
168
Integral Investment Advisors
California
$340K -$5.8K -150 -2%
VWA
169
Visionary Wealth Advisors
Illinois
$326K -$25.5K -659 -7%
BWM
170
BCGM Wealth Management
Indiana
$320K – – –
GAA
171
Global Assets Advisory
Florida
$320K -$2.4K -62 -0.8%
MFN
172
Midwest Financial Network
Illinois
$302K -$50.9K -1,317 -15%
AFP
173
Ausdal Financial Partners
Iowa
$301K +$15.3K +397 +5%
CHC
174
City Holding Co
West Virginia
$297K -$116K -3,000 -28%
MWP
175
Madison Wealth Partners
Wisconsin
$295K – – –
5 6
7
8 9

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.