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Innovator US Equity Power Buffer ETF April
PAPR

198 hedge funds and large institutions have $534M invested in Innovator US Equity Power Buffer ETF April in 2025 Q1 according to their latest regulatory filings, with 11 funds opening new positions, 48 increasing their positions, 90 reducing their positions, and 26 closing their positions.

New
Increased
Maintained
Reduced
Closed

4.39% more ownership

Funds ownership: 77.68% → 82.07% (+4.4%)

9% less funds holding

Funds holding: 218 → 198 (-20)

10% less capital invested

Capital invested by funds: $590M → $534M (-$56.6M)

47% less repeat investments, than reductions

Existing positions increased: 48 | Existing positions reduced: 90

50% less funds holding in top 10

Funds holding in top 10: 4 → 2 (-2)

58% less first-time investments, than exits

New positions opened: 11 | Existing positions closed: 26

Holders
198
Holders Change
-20
Holders Change %
-9.17%
% of All Funds
2.66%
Holding in Top 10
2
Holding in Top 10 Change
-2
Holding in Top 10 Change %
-50%
% of All Funds
0.03%
New
11
Increased
48
Reduced
90
Closed
26
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
AllianceBernstein
AllianceBernstein
Tennessee
+$9.97M
2
LPL Financial
LPL Financial
California
+$2.88M
3
HWP
Heritage Wealth Partners
Ohio
+$2.73M
4
Kovitz Investment Group Partners
Kovitz Investment Group Partners
Illinois
+$2.63M
5
Carson Wealth (CWM LLC)
Carson Wealth (CWM LLC)
Nebraska
+$2.56M

Top Sellers

1
Commonwealth Equity Services
Commonwealth Equity Services
Massachusetts
-$14.9M
2
CG
Caprock Group
Idaho
-$9.88M
3
SPIA
Steward Partners Investment Advisory
New York
-$4.65M
4
Osaic Holdings
Osaic Holdings
Arizona
-$4.61M
5
BAM
Belpointe Asset Management
Nevada
-$2.72M
Name Holding Trade Value Shares
Change 		Change in
Stake
Royal Bank of Canada
176
Royal Bank of Canada
Ontario, Canada
$137K +$142K +3,847 New
IF
177
Integrity Financial
Wyoming
$132K – – –
WP
178
WealthShield Partners
North Carolina
$111K +$66.3K +1,800 +137%
IWM
179
IMG Wealth Management
Florida
$103K – – –
SFGP
180
Stonebridge Financial Group (Pennsylvania)
Pennsylvania
$98.9K – – –
GIA
181
GHP Investment Advisors
Colorado
$98.1K – – –
SPIA
182
Steward Partners Investment Advisory
New York
$89.9K -$4.65M -126,261 -98%
SS
183
Sunbelt Securities
Texas
$89.2K – – –
JP Morgan Chase
184
JP Morgan Chase
New York
$79.6K -$132K -3,571 -62%
CIAS
185
Capital Investment Advisory Services
North Carolina
$78.2K +$27.1K +735 +50%
Morgan Stanley
186
Morgan Stanley
New York
$72.9K – – –
WWMSC
187
Wagner Wealth Management (South Carolina)
South Carolina
$71.3K – – –
NP
188
NorthRock Partners
Minnesota
$64.2K +$66.3K +1,799 New
AF
189
Allworth Financial
California
$55.2K – – –
BWM
190
Bernard Wealth Management
Michigan
$43.5K – – –
CAL
191
Capital Analysts LLC
Pennsylvania
$41K – – –
Bank of Montreal
192
Bank of Montreal
Ontario, Canada
$10.3K +$1.33K +36 +14%
SIS
193
Sound Income Strategies
Florida
$7.67K -$295 -8 -4%
CFS
194
Compass Financial Services
Iowa
$6.67K +$6.89K +187 New
CT
195
Caldwell Trust
Florida
$6.31K – – –
AG
196
AmeriFlex Group
Nevada
$5.1K – – –
AssetMark Inc
197
AssetMark Inc
California
$4.21K – – –
OSAM
198
O'Shaughnessy Asset Management
Connecticut
$1.46K – – –
CG
199
Caprock Group
Idaho
– -$9.88M -269,310 Closed
Jane Street
200
Jane Street
New York
– -$2.42M -65,960 Closed
5 6 7
8
9

PAPR Hedge Fund Activity: Q1 2025 in Review

198 of the 7,457 institutional investors tracked by Wall St. Rank reported a position in Innovator US Equity Power Buffer ETF April (PAPR) for Q1 2025, worth a combined $534M — down 9.6% from $590M a quarter earlier.

Sellers outnumbered buyers: 26 funds closed out of PAPR and 11 opened new positions — a net loss of 15 holders — while 90 trimmed existing stakes and 48 added.

The largest buyer was AllianceBernstein, adding an estimated $9.97M. The largest seller was Commonwealth Equity Services, cutting an estimated $14.9M.

  • 198 institutional investors held Innovator US Equity Power Buffer ETF April (PAPR) as of Q1 2025, down from 218 in Q4 2024.
  • Funds reported $534M of Innovator US Equity Power Buffer ETF April stock for Q1 2025, down 9.6% quarter-over-quarter.
  • 11 funds opened new Innovator US Equity Power Buffer ETF April positions in Q1 2025 and 26 closed out, a net change of -15 holders.
  • The largest Innovator US Equity Power Buffer ETF April buyer in Q1 2025 was AllianceBernstein, an estimated $9.97M added.
  • The largest Innovator US Equity Power Buffer ETF April seller in Q1 2025 was Commonwealth Equity Services, an estimated $14.9M sold.

Based on aggregated 13F filings for Q1 2025.