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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
JP Morgan Chase
51
JP Morgan Chase
New York
$15M +$1.44M +5,348 +11%
William Blair & Company
52
William Blair & Company
Illinois
$15M -$561K -2,077 -4%
UBS Group
53
UBS Group
Switzerland
$14.9M -$12.9M -47,786 -47%
DCM
54
Driehaus Capital Management
Illinois
$14.7M +$14.4M +53,256 New
MWM
55
Mission Wealth Management
California
$13.6M +$1.9M +7,042 +17%
Man Group
56
Man Group
United Kingdom
$12.4M -$5.83M -21,601 -32%
ACM
57
Atika Capital Management
New York
$12.3M – – –
Creative Planning
58
Creative Planning
Kansas
$11.7M +$8.58M +31,761 +296%
Swiss National Bank
59
Swiss National Bank
Switzerland
$11.7M -$27K -100 -0.2%
BA
60
Bridgewater Associates
Connecticut
$11.2M +$11M +40,594 New
WA
61
Watchtower Advisors
Connecticut
$11M -$5.74M -21,253 -35%
Brown Advisory
62
Brown Advisory
Maryland
$10.5M -$49.9M -184,818 -83%
DB
63
Danske Bank
Denmark
$10.4M +$10.2M +37,710 +28,568%
NIP
64
Nicholas Investment Partners
California
$10.3M +$199K +737 +2%
CIA
65
Capital Impact Advisors
Massachusetts
$9.75M +$2.35M +8,691 +33%
Legal & General Group
66
Legal & General Group
United Kingdom
$9.68M -$444K -1,643 -4%
TM
67
TFJ Management
Massachusetts
$9.38M – – –
Natixis Advisors
68
Natixis Advisors
Massachusetts
$9.37M +$7.83K +29 +0.1%
Squarepoint
69
Squarepoint
New York
$9.27M -$25.1M -93,069 -73%
SCM
70
Sone Capital Management
New York
$9.13M +$8.95M +33,138 New
Verition Fund Management
71
Verition Fund Management
Connecticut
$9.1M -$622K -2,304 -7%
Goldman Sachs
72
Goldman Sachs
New York
$9.02M -$9.66M -35,771 -52%
SEI Investments
73
SEI Investments
Pennsylvania
$9.01M -$2.78M -10,287 -24%
Canada Life
74
Canada Life
Manitoba, Canada
$8.88M -$2.16M -7,993 -20%
AllianceBernstein
75
AllianceBernstein
Tennessee
$8.85M +$518K +1,917 +6%
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.