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AppFolio
APPF

403 hedge funds and large institutions have $4.88B invested in AppFolio in 2025 Q4 according to their latest regulatory filings, with 61 funds opening new positions, 155 increasing their positions, 132 reducing their positions, and 64 closing their positions.

New
Increased
Maintained
Reduced
Closed

430% more call options, than puts

Call options by funds: $61.4M | Put options by funds: $11.6M

17% more repeat investments, than reductions

Existing positions increased: 155 | Existing positions reduced: 132

2.64% more ownership

Funds ownership: 88.2% → 90.83% (+2.6%)

5% less first-time investments, than exits

New positions opened: 61 | Existing positions closed: 64

2% less funds holding

Funds holding: 412 → 403 (-9)

12% less capital invested

Capital invested by funds: $5.55B → $4.88B (-$676M)

36% less funds holding in top 10

Funds holding in top 10: 11 → 7 (-4)

Holders
403
Holders Change
-9
Holders Change %
-2.18%
% of All Funds
4.9%
Holding in Top 10
7
Holding in Top 10 Change
-4
Holding in Top 10 Change %
-36.36%
% of All Funds
0.09%
New
61
Increased
155
Reduced
132
Closed
64
Calls
$61.4M
Puts
$11.6M
Net Calls
+$49.8M
Net Calls Change
+$576K

Top Buyers

1
Citadel Advisors
Citadel Advisors
Florida
+$78.9M
2
Millennium Management
Millennium Management
New York
+$41M
3
CIA
Caledonia Investments (Australia)
Australia
+$24.9M
4
Vanguard Group
Vanguard Group
Pennsylvania
+$24.1M
5
T. Rowe Price Associates
T. Rowe Price Associates
Maryland
+$23.3M

Top Sellers

1
ACM
Ashe Capital Management
New Jersey
-$60.2M
2
Fidelity Investments
Fidelity Investments
Massachusetts
-$55.9M
3
BCM
Brown Capital Management
Maryland
-$45.1M
4
IHG
Insight Holdings Group
New York
-$25.7M
5
1832 Asset Management
1832 Asset Management
Ontario, Canada
-$24.4M
Name Holding Trade Value Shares
Change 		Change in
Stake
FHC
326
First Horizon Corporation
Tennessee
$34.4K +$1.66K +7 +5%
MCM
327
MAI Capital Management
Ohio
$32.8K +$21.6K +91 +182%
RFP
328
Root Financial Partners
California
$27.2K +$713 +3 +3%
CA
329
Clearstead Advisors
Ohio
$26.5K -$23.3K -98 -46%
EWA
330
EverSource Wealth Advisors
Alabama
$25.8K +$13.3K +56 +102%
DB
331
Danske Bank
Denmark
$23.3K -$8.97M -37,742 -100%
T
332
Tidemark
California
$17.7K – – –
WETS
333
Wealth Enhancement Trust Services
South Dakota
$16.8K +$17.1K +72 New
BIA
334
Bell Investment Advisors
California
$14.7K +$4.99K +21 +50%
GRP
335
Global Retirement Partners
California
$14.4K +$3.09K +13 +27%
PFBT
336
Parkside Financial Bank & Trust
Missouri
$13.3K +$8.79K +37 +185%
PWPS
337
Pinnacle Wealth Planning Services
Ohio
$13K +$13.3K +56 New
SAM
338
Smartleaf Asset Management
Massachusetts
$13K -$122K -512 -90%
Mitsubishi UFJ Asset Management
339
Mitsubishi UFJ Asset Management
Japan
$12.9K – – –
TFA
340
Transamerica Financial Advisors
Florida
$11.9K – – –
PPC
341
Park Place Capital
Alabama
$10.9K -$238 -1 -2%
WWM
342
Wolff Wiese Magana
California
$10K +$238 +1 +2%
HPC
343
HM Payson & Co
Maine
$9.07K +$9.27K +39 New
CIBC Private Wealth Group
344
CIBC Private Wealth Group
Georgia
$7.68K +$7.61K +32 +3,200%
MPWT
345
MassMutual Private Wealth & Trust
Connecticut
$6.75K +$1.66K +7 +32%
BWA
346
Basecamp Wealth Advisors
Washington
$6.51K +$6.65K +28 New
CAM
347
Chesapeake Asset Management
New York
$6.51K +$6.65K +28 New
PWMG
348
Private Wealth Management Group
New Jersey
$6.05K – – –
ANBT
349
American National Bank & Trust
Texas
$6.05K +$6.18K +26 New
AWA
350
Acumen Wealth Advisors
Tennessee
$5.82K +$5.94K +25 New
12 13
14
15 16

APPF Hedge Fund Activity: Q4 2025 in Review

403 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in AppFolio (APPF) for Q4 2025, worth a combined $4.88B — down 12% from $5.55B a quarter earlier.

Sellers outnumbered buyers: 64 funds closed out of APPF and 61 opened new positions — a net loss of 3 holders — while 132 trimmed existing stakes and 155 added.

The largest buyer was Citadel Advisors, adding an estimated $78.9M. The largest seller was Ashe Capital Management, cutting an estimated $60.2M.

  • 403 institutional investors held AppFolio (APPF) as of Q4 2025, down from 412 in Q3 2025.
  • Funds reported $4.88B of AppFolio stock for Q4 2025, down 12% quarter-over-quarter.
  • 61 funds opened new AppFolio positions in Q4 2025 and 64 closed out, a net change of -3 holders.
  • The largest AppFolio buyer in Q4 2025 was Citadel Advisors, an estimated $78.9M added.
  • The largest AppFolio seller in Q4 2025 was Ashe Capital Management, an estimated $60.2M sold.

Based on aggregated 13F filings for Q4 2025.