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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
Creative Planning
201
Creative Planning
Kansas
$204K +$202K +5,217 New
IWM
202
IMG Wealth Management
Florida
$199K -$183K -4,737 -48%
SPIA
203
Steward Partners Investment Advisory
New York
$166K +$66.5K +1,720 +68%
IF
204
Integrity Financial
Wyoming
$139K -$4.95K -128 -3%
RRA
205
Red Reef Advisors
Florida
$113K +$112K +2,900 New
WP
206
WealthShield Partners
North Carolina
$110K -$11.6K -300 -10%
GIA
207
GHP Investment Advisors
Colorado
$108K – – –
CA
208
Clearstead Advisors
Ohio
$104K -$387K -9,999 -79%
SS
209
Sunbelt Securities
Texas
$97.8K – – –
Barclays
210
Barclays
United Kingdom
$91.6K +$90.5K +2,341 New
EWM
211
Evolution Wealth Management
Florida
$87.4K – – –
CIAS
212
Capital Investment Advisory Services
North Carolina
$85.8K – – –
OC
213
Optima Capital
Oregon
$84.9K +$83.9K +2,170 New
JP Morgan Chase
214
JP Morgan Chase
New York
$82.7K +$43.9K +1,135 +116%
WWMSC
215
Wagner Wealth Management (South Carolina)
South Carolina
$78.2K – – –
SAG
216
SageView Advisory Group
California
$73.8K +$72.9K +1,886 New
JWM
217
Jessup Wealth Management
Ohio
$56.7K +$56K +1,449 New
Morgan Stanley
218
Morgan Stanley
New York
$49.4K – – –
LAS
219
Lloyd Advisory Services
Georgia
$45.1K +$44.6K +1,153 New
CAL
220
Capital Analysts LLC
Pennsylvania
$43K -$1.93K -50 -4%
Rockefeller Capital Management
221
Rockefeller Capital Management
New York
$33.3K – – –
AG
222
AmeriFlex Group
Nevada
$30.8K -$30.4K -787 -50%
UBS Group
223
UBS Group
Switzerland
$22.3K +$22K +569 New
GRP
224
Global Retirement Partners
California
$16.8K – – –
ACM
225
Anfield Capital Management
California
$13.3K – – –
6 7 8
9
10

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.