Affirm
AFRM
640 hedge funds and large institutions have $17.8B invested in Affirm in 2025 Q4 according to their latest regulatory filings, with 122 funds opening new positions, 251 increasing their positions, 183 reducing their positions, and 88 closing their positions.
39% more first-time investments, than exits
New positions opened: 122 | Existing positions closed: 88
37% more repeat investments, than reductions
Existing positions increased: 251 | Existing positions reduced: 183
27% more funds holding in top 10
Funds holding in top 10: 15 → 19 (+4)
7% more capital invested
Capital invested by funds: $16.6B → $17.8B (+$1.18B)
4% more funds holding
Funds holding: 615 → 640 (+25)
2.78% more ownership
Funds ownership: 79.69% → 82.47% (+2.8%)
17% less call options, than puts
Call options by funds: $1.11B | Put options by funds: $1.34B
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
LPC
Lone Pine Capital
Greenwich,
Connecticut
|
+$275M |
| 2 |
Fidelity Investments
Boston,
Massachusetts
|
+$103M |
| 3 |
AM
Atreides Management
Boston,
Massachusetts
|
+$84.7M |
| 4 |
BlackRock
New York
|
+$83.7M |
| 5 |
TCG
Tremblant Capital Group
West Palm Beach,
Florida
|
+$76.3M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
DCP
Durable Capital Partners
Bethesda,
Maryland
|
-$186M |
| 2 |
Holocene Advisors
New York
|
-$113M |
| 3 |
Qube Research & Technologies (QRT)
London,
United Kingdom
|
-$61.2M |
| 4 |
ACA
Abdiel Capital Advisors
New York
|
-$58.7M |
| 5 |
TI
Tidal Investments
Milwaukee,
Wisconsin
|
-$53.9M |
AFRM Hedge Fund Activity: Q4 2025 in Review
640 of the 8,267 institutional investors tracked by Wall St. Rank reported a position in Affirm (AFRM) for Q4 2025, worth a combined $17.8B — up 7.1% from $16.6B a quarter earlier.
Buyers outnumbered sellers: 122 funds opened new AFRM positions and 88 closed out — a net gain of 34 holders — while 251 added to existing stakes and 183 trimmed.
The largest buyer was Lone Pine Capital, opening a new position worth an estimated $275M. The largest seller was Durable Capital Partners, cutting an estimated $186M.
- 640 institutional investors held Affirm (AFRM) as of Q4 2025, up from 615 in Q3 2025.
- Funds reported $17.8B of Affirm stock for Q4 2025, up 7.1% quarter-over-quarter.
- 122 funds opened new Affirm positions in Q4 2025 and 88 closed out, a net change of +34 holders.
- The largest Affirm buyer in Q4 2025 was Lone Pine Capital, an estimated $275M added.
- The largest Affirm seller in Q4 2025 was Durable Capital Partners, an estimated $186M sold.
Based on aggregated 13F filings for Q4 2025.