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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
MWM
201
Maltin Wealth Management
New Jersey
– -$1.57M -42,767 Closed
OMC
202
Old Mission Capital
Illinois
– -$1.03M -28,188 Closed
KFGG
203
Keystone Financial Group (Georgia)
Georgia
– -$682K -18,586 Closed
TSS
204
Two Sigma Securities
New York
– -$515K -14,026 Closed
FFG
205
Frisch Financial Group
New York
– -$442K -12,053 Closed
CWA
206
Continuum Wealth Advisors
New York
– -$397K -10,804 Closed
AWA
207
Arete Wealth Advisors
Illinois
– -$386K -10,520 Closed
AFP
208
Ausdal Financial Partners
Iowa
– -$368K -10,021 Closed
CWAF
209
Core Wealth Advisors (Florida)
Florida
– -$292K -7,964 Closed
PIAS
210
PCA Investment Advisory Services
Ohio
– -$273K -7,443 Closed
SPC
211
Sigma Planning Corp
Michigan
– -$270K -7,354 Closed
CFP
212
Cypress Financial Planning
New Jersey
– -$240K -6,539 Closed
HF
213
HRT Financial
New York
– -$216K -5,907 Closed
CP
214
Castleview Partners
Texas
– -$205K -5,600 Closed
PNC Financial Services Group
215
PNC Financial Services Group
Pennsylvania
– -$87.8K -2,391 Closed
Barclays
216
Barclays
United Kingdom
– -$61.3K -1,670 Closed
CFGS
217
Concourse Financial Group Securities
Alabama
– -$46.4K -1,243 Closed
SMAM
218
Sugar Maple Asset Management
Wisconsin
– -$19K -519 Closed
ACM
219
Anfield Capital Management
California
– -$12.5K -340 Closed
CAS
220
Coppell Advisory Solutions
Texas
– -$12.1K -332 Closed
LFA
221
Legend Financial Advisors
Pennsylvania
– -$10.4K -283 Closed
SAM
222
Synergy Asset Management
Washington
– -$4.56K -127 Closed
WW
223
Winnow Wealth
Texas
– -$1.98K -54 Closed
Fidelity Investments
224
Fidelity Investments
Massachusetts
– -$1.14K -31 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.