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AppFolio

412 hedge funds and large institutions have $5.55B invested in AppFolio in 2025 Q3 according to their latest regulatory filings, with 78 funds opening new positions, 132 increasing their positions, 142 reducing their positions, and 47 closing their positions.

New
Increased
Maintained
Reduced
Closed

443% more call options, than puts

Call options by funds: $60.3M | Put options by funds: $11.1M

66% more first-time investments, than exits

New positions opened: 78 | Existing positions closed: 47

38% more funds holding in top 10

Funds holding in top 10: 811 (+3)

17% more capital invested

Capital invested by funds: $4.73B → $5.55B (+$820M)

7% more funds holding

Funds holding: 385412 (+27)

0.96% less ownership

Funds ownership: 89.16%88.2% (-0.96%)

7% less repeat investments, than reductions

Existing positions increased: 132 | Existing positions reduced: 142

Holders
412
Holders Change
+27
Holders Change %
+7.01%
% of All Funds
5.41%
Holding in Top 10
11
Holding in Top 10 Change
+3
Holding in Top 10 Change %
+37.5%
% of All Funds
0.14%
New
78
Increased
132
Reduced
142
Closed
47
Calls
$60.3M
Puts
$11.1M
Net Calls
+$49.2M
Net Calls Change
+$29.7M
Name Holding Trade Value Shares
Change
Change in
Stake
IAA
251
Independent Advisor Alliance
North Carolina
$367K -$79.7K -295 -18%
QT
252
Quantbot Technologies
New York
$359K +$351K +1,301 New
FBT
253
First Bank & Trust
South Dakota
$358K -$1.89K -7 -0.5%
AWAU
254
Alliance Wealth Advisors (Utah)
Utah
$357K -$89.4K -331 -20%
SC
255
SummitTX Capital
Texas
$351K +$344K +1,275 New
Allspring Global Investments
256
Allspring Global Investments
North Carolina
$351K -$3.51K -13 -0.9%
Mercer Global Advisors
257
Mercer Global Advisors
Colorado
$348K +$15.7K +58 +5%
PAS
258
Park Avenue Securities
New York
$348K +$3.51K +13 +1%
BF
259
BOK Financial
Oklahoma
$346K -$39.2K -145 -10%
TRCT
260
Tower Research Capital (TRC)
New York
$340K +$174K +646 +110%
Pathstone Holdings
261
Pathstone Holdings
New Jersey
$333K +$326K +1,207 New
CA
262
Cullinan Associates
Kentucky
$331K
SOW
263
State of Wyoming
Wyoming
$330K +$22.1K +82 +7%
FRM
264
Fox Run Management
Connecticut
$326K +$320K +1,184 New
EGM
265
Engineers Gate Manager
New York
$322K -$31.6K -117 -9%
URS
266
Utah Retirement Systems
Utah
$320K
Carson Wealth (CWM LLC)
267
Carson Wealth (CWM LLC)
Nebraska
$319K +$121K +447 +63%
FGP
268
Freestone Grove Partners
California
$311K
ST
269
Somerset Trust
Pennsylvania
$307K +$2.7K +10 +0.9%
LAM
270
Lewis Asset Management
California
$307K +$2.16K +8 +0.7%
SA
271
Strategic Advocates
Utah
$307K +$6.48K +24 +2%
MA
272
Mutual Advisors
Nebraska
$304K
FFA
273
First Foundation Advisors
California
$303K
II
274
Inspire Investing
Idaho
$300K -$40K -148 -12%
MSRPS
275
Maryland State Retirement & Pension System
Maryland
$292K

APPF Hedge Fund Activity: Q3 2025 in Review

412 of the 7,619 institutional investors tracked by Wall St. Rank reported a position in AppFolio (APPF) for Q3 2025, worth a combined $5.55B — up 17% from $4.73B a quarter earlier.

Buyers outnumbered sellers: 78 funds opened new APPF positions and 47 closed out — a net gain of 31 holders — while 132 added to existing stakes and 142 trimmed.

The largest buyer was Principal Financial Group, adding an estimated $90.2M. The largest seller was Brown Capital Management, cutting an estimated $64M.

  • 412 institutional investors held AppFolio (APPF) as of Q3 2025, up from 385 in Q2 2025.
  • Funds reported $5.55B of AppFolio stock for Q3 2025, up 17% quarter-over-quarter.
  • 78 funds opened new AppFolio positions in Q3 2025 and 47 closed out, a net change of +31 holders.
  • The largest AppFolio buyer in Q3 2025 was Principal Financial Group, an estimated $90.2M added.
  • The largest AppFolio seller in Q3 2025 was Brown Capital Management, an estimated $64M sold.

Based on aggregated 13F filings for Q3 2025.