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AppFolio
APPF

133 hedge funds and large institutions have $842M invested in AppFolio in 2019 Q1 according to their latest regulatory filings, with 28 funds opening new positions, 43 increasing their positions, 38 reducing their positions, and 14 closing their positions.

New
Increased
Maintained
Reduced
Closed

100% more first-time investments, than exits

New positions opened: 28 | Existing positions closed: 14

88% more call options, than puts

Call options by funds: $4.25M | Put options by funds: $2.26M

36% more capital invested

Capital invested by funds: $620M → $842M (+$222M)

13% more repeat investments, than reductions

Existing positions increased: 43 | Existing positions reduced: 38

11% more funds holding

Funds holding: 120 → 133 (+13)

2.06% more ownership

Funds ownership: 64.96% → 67.01% (+2.1%)

25% less funds holding in top 10

Funds holding in top 10: 4 → 3 (-1)

Holders
133
Holders Change
+13
Holders Change %
+10.83%
% of All Funds
2.88%
Holding in Top 10
3
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-25%
% of All Funds
0.06%
New
28
Increased
43
Reduced
38
Closed
14
Calls
$4.25M
Puts
$2.26M
Net Calls
+$1.99M
Net Calls Change
+$2.3M

Top Buyers

1
ESCM
Echo Street Capital Management
New York
+$17.9M
2
RIM
Ranger Investment Management
Texas
+$10.3M
3
WEO
William E. Oberndorf
+$7.35M
4
Arrowstreet Capital
Arrowstreet Capital
Massachusetts
+$7.02M
5
Russell Investments Group
Russell Investments Group
United Kingdom
+$3.48M

Top Sellers

1
CRCM
Cat Rock Capital Management
Connecticut
-$13.7M
2
MC
Menta Capital
California
-$5.28M
3
TA
Teachers Advisors
New York
-$5.24M
4
Manulife (Manufacturers Life Insurance)
Manulife (Manufacturers Life Insurance)
Ontario, Canada
-$4.84M
5
Renaissance Technologies
Renaissance Technologies
New York
-$4.21M
Name Holding Trade Value Shares
Change 		Change in
Stake
TA
26
Teachers Advisors
New York
$5.41M -$5.24M -78,328 -53%
Invesco
27
Invesco
Georgia
$4.89M +$2.84M +42,487 +222%
PAM
28
Panagora Asset Management
Massachusetts
$4.88M – – –
Two Sigma Advisers
29
Two Sigma Advisers
New York
$4.79M -$2.2M -32,900 -35%
GAM
30
Gotham Asset Management
New York
$4.46M -$788K -11,785 -17%
Russell Investments Group
31
Russell Investments Group
United Kingdom
$4.42M +$3.48M +52,060 +1,459%
Fidelity Investments
32
Fidelity Investments
Massachusetts
$4.11M +$3.46M +51,700 New
MAM
33
Martingale Asset Management
Massachusetts
$3.67M +$1.34M +20,000 +76%
First Trust Advisors
34
First Trust Advisors
Illinois
$3.38M -$1.26M -18,909 -31%
NA
35
Navellier & Associates
Nevada
$3.38M +$108K +1,609 +4%
CAM
36
Cortina Asset Management
Wisconsin
$3.34M +$2.81M +42,089 New
AllianceBernstein
37
AllianceBernstein
Tennessee
$3.33M -$479K -7,160 -15%
New York State Common Retirement Fund
38
New York State Common Retirement Fund
New York
$2.85M +$114K +1,700 +5%
American Century Companies
39
American Century Companies
Missouri
$2.83M -$3.8M -56,828 -61%
TCM
40
Timpani Capital Management
Wisconsin
$2.4M +$2.02M +30,204 New
Bessemer Group
41
Bessemer Group
New Jersey
$2.34M +$1.25M +18,700 +173%
TCIM
42
TIAA CREF Investment Management
New York
$2.12M -$46.8K -700 -3%
California State Teachers Retirement System (CalSTRS)
43
California State Teachers Retirement System (CalSTRS)
California
$1.9M -$35.5K -531 -2%
CIA
44
Capital Impact Advisors
Massachusetts
$1.77M – – –
EGM
45
Engineers Gate Manager
New York
$1.68M +$163K +2,438 +13%
RhumbLine Advisers
46
RhumbLine Advisers
Massachusetts
$1.64M +$4.55K +68 +0.3%
Deutsche Bank
47
Deutsche Bank
Germany
$1.59M -$1.08M -16,107 -44%
California Public Employees Retirement System
48
California Public Employees Retirement System
California
$1.58M +$171K +2,554 +15%
CI
49
Cavalier Investments
Georgia
$1.52M – – –
AG
50
Advisor Group
Arizona
$1.42M +$975K +14,581 +435%
1
2
3 4 5

APPF Hedge Fund Activity: Q1 2019 in Review

133 of the 4,620 institutional investors tracked by Wall St. Rank reported a position in AppFolio (APPF) for Q1 2019, worth a combined $842M — up 36% from $620M a quarter earlier.

Buyers outnumbered sellers: 28 funds opened new APPF positions and 14 closed out — a net gain of 14 holders — while 43 added to existing stakes and 38 trimmed.

The largest buyer was Echo Street Capital Management, adding an estimated $17.9M. The largest seller was Cat Rock Capital Management, exiting entirely with an estimated $13.7M sold.

  • 133 institutional investors held AppFolio (APPF) as of Q1 2019, up from 120 in Q4 2018.
  • Funds reported $842M of AppFolio stock for Q1 2019, up 36% quarter-over-quarter.
  • 28 funds opened new AppFolio positions in Q1 2019 and 14 closed out, a net change of +14 holders.
  • The largest AppFolio buyer in Q1 2019 was Echo Street Capital Management, an estimated $17.9M added.
  • The largest AppFolio seller in Q1 2019 was Cat Rock Capital Management, an estimated $13.7M sold.

Based on aggregated 13F filings for Q1 2019.