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AppFolio
APPF

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: 8 → 11 (+3)

17% more capital invested

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

7% more funds holding

Funds holding: 385 → 412 (+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

Top Buyers

1
Principal Financial Group
Principal Financial Group
Iowa
+$90.2M
2
HWCM
Hudson Way Capital Management
Texas
+$52.3M
3
T. Rowe Price Associates
T. Rowe Price Associates
Maryland
+$31.5M
4
1832 Asset Management
1832 Asset Management
Ontario, Canada
+$23.9M
5
Invesco
Invesco
Georgia
+$22.1M

Top Sellers

1
BCM
Brown Capital Management
Maryland
-$64M
2
Brown Advisory
Brown Advisory
Maryland
-$49.9M
3
William Blair Investment Management
William Blair Investment Management
Illinois
-$49M
4
New York State Common Retirement Fund
New York State Common Retirement Fund
New York
-$45.1M
5
Morgan Stanley
Morgan Stanley
New York
-$35.5M
Name Holding Trade Value Shares
Change 		Change in
Stake
Fiera Capital (Canada)
26
Fiera Capital (Canada)
Quebec, Canada
$44.9M -$887K -3,285 -2%
Charles Schwab
27
Charles Schwab
California
$43.6M -$395K -1,462 -0.9%
IHG
28
Insight Holdings Group
New York
$42.1M – – –
Caisse de Depot et Placement du Quebec (CDPQ)
29
Caisse de Depot et Placement du Quebec (CDPQ)
Quebec, Canada
$41M +$10.5M +38,875 +35%
GKIM
30
GW&K Investment Management
Massachusetts
$39.5M -$5.94M -22,004 -13%
GPC
31
Greenstone Partners & Co
California
$36.6M -$392K -1,453 -1%
GP
32
Greenstone Partners
California
$36.6M +$35.9M +132,776 New
Jennison Associates
33
Jennison Associates
New York
$34.3M +$9.3M +34,411 +38%
Marshall Wace
34
Marshall Wace
United Kingdom
$33M +$16.8M +62,115 +108%
RIM
35
Ranger Investment Management
Texas
$31.6M -$7.05M -26,090 -19%
Jacobs Levy Equity Management
36
Jacobs Levy Equity Management
New Jersey
$30.8M -$5.38M -19,902 -15%
Millennium Management
37
Millennium Management
New York
$30M +$15.3M +56,583 +108%
Wells Fargo
38
Wells Fargo
California
$29.9M +$1.54M +5,697 +6%
Raymond James Financial
39
Raymond James Financial
Florida
$25.9M -$19.2K -71 -0.1%
First Trust Advisors
40
First Trust Advisors
Illinois
$24.4M -$15.2M -56,173 -39%
1832 Asset Management
41
1832 Asset Management
Ontario, Canada
$24.4M +$23.9M +88,500 New
Royal Bank of Canada
42
Royal Bank of Canada
Ontario, Canada
$23.2M -$3.52M -13,039 -13%
Janus Henderson Group
43
Janus Henderson Group
United Kingdom
$18.9M -$17.1M -63,275 -48%
Envestnet Asset Management
44
Envestnet Asset Management
Illinois
$18M -$645K -2,387 -4%
Russell Investments Group
45
Russell Investments Group
United Kingdom
$17.6M -$1.73M -6,390 -9%
RhumbLine Advisers
46
RhumbLine Advisers
Massachusetts
$17.2M -$402K -1,487 -2%
N
47
Nuveen
North Carolina
$16M +$1.54M +5,692 +11%
New York State Common Retirement Fund
48
New York State Common Retirement Fund
New York
$15.9M -$45.1M -167,118 -74%
UBS AM
49
UBS AM
Illinois
$15.6M -$10.3M -37,982 -40%
EAM
50
EULAV Asset Management
Florida
$15.3M – – –
1
2
3 4 5

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.