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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
VWM
551
Vermillion Wealth Management
Minnesota
$691 – – –
SC
552
Stephens Consulting
Michigan
$623 +$467 +9 New
MCM
553
MV Capital Management
Maryland
$554 – – –
ACA
554
American Capital Advisory
Idaho
$554 +$415 +8 New
PWA
555
Principia Wealth Advisory
Texas
$415 +$311 +6 New
CVM
556
Cheviot Value Management
California
$362 – – –
PWM
557
Parkworth Wealth Management
California
$346 – – –
HIA
558
HFM Investment Advisors
New Jersey
$346 +$104 +2 +67%
BHWM
559
Bay Harbor Wealth Management
Maryland
$276 +$156 +3 +300%
DF
560
DecisionPoint Financial
Arizona
$269 +$207 +4 New
AWM
561
Activest Wealth Management
Florida
$69 -$363 -7 -88%
WOC
562
West Oak Capital
California
$28 – – –
Renaissance Technologies
563
Renaissance Technologies
New York
– -$37M -818,900 Closed
TC
564
TownSquare Capital
Utah
– -$6.41M -141,756 Closed
TC
565
Tairen Capital
Hong Kong
– -$6.33M -140,000 Closed
QC
566
Quadrature Capital
United Kingdom
– -$5.57M -123,235 Closed
HCP
567
Hiddenite Capital Partners
New York
– -$4.59M -101,600 Closed
Two Sigma Advisers
568
Two Sigma Advisers
New York
– -$4M -88,500 Closed
IP
569
Interval Partners
New York
– -$3.8M -84,146 Closed
EP
570
Edgestream Partners
New Jersey
– -$3.62M -80,156 Closed
QT
571
Quantbot Technologies
New York
– -$3.53M -78,110 Closed
ZDA
572
Zweig-DiMenna Associates
New York
– -$3.02M -66,900 Closed
PEAK6
573
PEAK6
Illinois
– -$3.02M -58,295 Closed
SFM
574
Soros Fund Management
New York
– -$2.03M -45,000 Closed
EC
575
Estate Counselors
Wisconsin
– -$1.91M -42,175 Closed
21 22
23
24 25

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.