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Affirm
AFRM

561 hedge funds and large institutions have $15.5B invested in Affirm in 2025 Q2 according to their latest regulatory filings, with 136 funds opening new positions, 212 increasing their positions, 145 reducing their positions, and 61 closing their positions.

New
Increased
Maintained
Reduced
Closed

123% more first-time investments, than exits

New positions opened: 136 | Existing positions closed: 61

115% more funds holding in top 10

Funds holding in top 10: 13 → 28 (+15)

58% more capital invested

Capital invested by funds: $9.77B → $15.5B (+$5.72B)

46% more repeat investments, than reductions

Existing positions increased: 212 | Existing positions reduced: 145

14% more funds holding

Funds holding: 490 → 561 (+71)

1.96% more ownership

Funds ownership: 77.5% → 79.46% (+2%)

4% less call options, than puts

Call options by funds: $1.11B | Put options by funds: $1.15B

Holders
561
Holders Change
+71
Holders Change %
+14.49%
% of All Funds
7.39%
Holding in Top 10
28
Holding in Top 10 Change
+15
Holding in Top 10 Change %
+115.38%
% of All Funds
0.37%
New
136
Increased
212
Reduced
145
Closed
61
Calls
$1.11B
Puts
$1.15B
Net Calls
-$44.3M
Net Calls Change
-$148M

Top Buyers

Rank Fund Capital Flow
1
BlackRock
BlackRock
New York
+$126M
2
AM
Atreides Management
Massachusetts
+$86.6M
3
WRCM
Whale Rock Capital Management
Massachusetts
+$66.1M
4
Fidelity Investments
Fidelity Investments
Massachusetts
+$62.5M
5
Morgan Stanley
Morgan Stanley
New York
+$50.4M

Top Sellers

Rank Fund Capital Flow
1
Citadel Advisors
Citadel Advisors
Florida
-$131M
2
Qube Research & Technologies (QRT)
Qube Research & Technologies (QRT)
United Kingdom
-$85.3M
3
Holocene Advisors
Holocene Advisors
New York
-$82.8M
4
Baillie Gifford & Co
Baillie Gifford & Co
United Kingdom
-$76.3M
5
JCAM
Jericho Capital Asset Management
New York
-$72.3M
Name Holding Trade Value Shares
Change 		Change in
Stake
A
376
AlphaQuest
New York
$293K +$73.7K +1,421 +50%
VCM
377
Versant Capital Management
Arizona
$293K +$8.19K +158 +4%
CFO
378
Callan Family Office
Pennsylvania
$292K +$219K +4,229 New
WWM
379
Western Wealth Management
Colorado
$292K +$219K +4,225 New
RWM
380
Ritholtz Wealth Management
New York
$284K +$213K +4,109 New
KSWA
381
Kathleen S. Wright Associates
Pennsylvania
$280K -$16.7K -323 -7%
PA
382
Parallel Advisors
California
$280K -$48K -926 -19%
VI
383
Versor Investments
New York
$279K +$209K +4,038 New
CWM
384
Challenger Wealth Management
California
$278K +$208K +4,020 New
AI
385
Atria Investments
North Carolina
$265K +$199K +3,840 New
TI
386
Tidal Investments
Wisconsin
$264K -$1.87M -36,107 -90%
GAM
387
Groupama Asset Management
France
$262K – – –
HH
388
Hilltop Holdings
Texas
$260K -$663K -12,777 -77%
MCM
389
MAI Capital Management
Ohio
$259K +$22.1K +426 +13%
Daiwa Securities Group
390
Daiwa Securities Group
Japan
$259K -$35.4K -682 -15%
FRA
391
Frank Rimerman Advisors
California
$258K +$194K +3,738 New
CL
392
Choreo LLC
Illinois
$254K +$190K +3,667 New
O
393
Ossiam
France
$251K -$80.5K -1,553 -30%
HAG
394
HighPoint Advisor Group
Illinois
$251K +$188K +3,626 New
HCMT
395
Highland Capital Management (Tennessee)
Tennessee
$248K +$186K +3,581 New
National Bank of Canada
396
National Bank of Canada
Quebec, Canada
$247K +$100K +1,937 +118%
RC
397
Rareview Capital
Nevada
$245K +$184K +3,541 New
SCP
398
Sender Company & Partners
New York
$245K +$184K +3,540 New
MWM
399
Moran Wealth Management
Florida
$244K +$183K +3,523 New
AA
400
Ancora Advisors
Ohio
$242K – – –
14 15
16
17 18

AFRM Hedge Fund Activity: Q2 2025 in Review

561 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in Affirm (AFRM) for Q2 2025, worth a combined $15.5B — up 58% from $9.77B a quarter earlier.

Buyers outnumbered sellers: 136 funds opened new AFRM positions and 61 closed out — a net gain of 75 holders — while 212 added to existing stakes and 145 trimmed.

The largest buyer was BlackRock, adding an estimated $126M. The largest seller was Citadel Advisors, cutting an estimated $131M.

  • 561 institutional investors held Affirm (AFRM) as of Q2 2025, up from 490 in Q1 2025.
  • Funds reported $15.5B of Affirm stock for Q2 2025, up 58% quarter-over-quarter.
  • 136 funds opened new Affirm positions in Q2 2025 and 61 closed out, a net change of +75 holders.
  • The largest Affirm buyer in Q2 2025 was BlackRock, an estimated $126M added.
  • The largest Affirm seller in Q2 2025 was Citadel Advisors, an estimated $131M sold.

Based on aggregated 13F filings for Q2 2025.