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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
BHCM
426
Brevan Howard Capital Management
Jersey
– -$490K -1,776 Closed
Capstone Investment Advisors
427
Capstone Investment Advisors
New York
– -$404K -1,466 Closed
BMCM
428
Burns Matteson Capital Management
New York
– -$402K -1,457 Closed
Allspring Global Investments
429
Allspring Global Investments
North Carolina
– -$351K -1,367 Closed
AWAU
430
Alliance Wealth Advisors (Utah)
Utah
– -$357K -1,294 Closed
SC
431
SummitTX Capital
Texas
– -$351K -1,275 Closed
Pathstone Holdings
432
Pathstone Holdings
New Jersey
– -$333K -1,207 Closed
FRM
433
Fox Run Management
Connecticut
– -$326K -1,184 Closed
EGM
434
Engineers Gate Manager
New York
– -$322K -1,167 Closed
FGP
435
Freestone Grove Partners
California
– -$311K -1,130 Closed
JG
436
Jain Global
New York
– -$284K -1,030 Closed
BTWM
437
Baker Tilly Wealth Management
Wisconsin
– -$262K -951 Closed
SP
438
Saranac Partners
– -$254K -920 Closed
BFA
439
Brendel Financial Advisors
New Hampshire
– -$241K -873 Closed
BAM
440
Belpointe Asset Management
Nevada
– -$232K -840 Closed
SCM
441
Shelton Capital Management
Colorado
– -$227K -824 Closed
BWCS
442
Beirne Wealth Consulting Services
Connecticut
– -$219K -794 Closed
NFSG
443
Newbridge Financial Services Group
Florida
– -$217K -786 Closed
Corient Private Wealth
444
Corient Private Wealth
Florida
– -$214K -775 Closed
MBTD
445
Mechanics Bank - Trust Department
California
– -$210K -761 Closed
PWAM
446
Papamarkou Wellner Asset Management
New York
– -$210K -760 Closed
Polen Capital Management
447
Polen Capital Management
Florida
– -$208K -753 Closed
OIA
448
OneDigital Investment Advisors
Kansas
– -$205K -742 Closed
DJSG
449
D.J. St. Germain
Massachusetts
– -$162K -588 Closed
PS
450
Principal Securities
Iowa
– -$145K -527 Closed
15 16 17
18
19

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.