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AppFolio

381 hedge funds and large institutions have $4.39B invested in AppFolio in 2025 Q1 according to their latest regulatory filings, with 72 funds opening new positions, 135 increasing their positions, 130 reducing their positions, and 78 closing their positions.

New
Increased
Maintained
Reduced
Closed

138% more call options, than puts

Call options by funds: $16.6M | Put options by funds: $6.95M

3.29% more ownership

Funds ownership: 82.52%85.81% (+3.3%)

4% more repeat investments, than reductions

Existing positions increased: 135 | Existing positions reduced: 130

8% less first-time investments, than exits

New positions opened: 72 | Existing positions closed: 78

2% less funds holding

Funds holding: 388381 (-7)

7% less capital invested

Capital invested by funds: $4.7B → $4.39B (-$312M)

10% less funds holding in top 10

Funds holding in top 10: 109 (-1)

Holders
381
Holders Change
-7
Holders Change %
-1.8%
% of All Funds
5.11%
Holding in Top 10
9
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-10%
% of All Funds
0.12%
New
72
Increased
135
Reduced
130
Closed
78
Calls
$16.6M
Puts
$6.95M
Net Calls
+$9.61M
Net Calls Change
+$3.27M
Name Holding Trade Value Shares
Change
Change in
Stake
Vanguard Group
1
Vanguard Group
Pennsylvania
$536M -$13.1M -57,098 -2%
BlackRock
2
BlackRock
New York
$529M -$945K -4,119 -0.2%
ACM
3
Ashe Capital Management
New Jersey
$250M +$10.6M +46,193 +4%
Fidelity Investments
4
Fidelity Investments
Massachusetts
$186M +$57.1M +248,693 +42%
Kayne Anderson Rudnick Investment Management
5
Kayne Anderson Rudnick Investment Management
California
$170M +$81.2M +354,061 +84%
State Street
6
State Street
Massachusetts
$157M +$3.94M +17,163 +2%
BCM
7
Brown Capital Management
Maryland
$135M -$16.1M -70,204 -10%
GGHC
8
Gilder Gagnon Howe & Co
New York
$117M -$9.25M -40,317 -7%
Geode Capital Management
9
Geode Capital Management
Massachusetts
$96.1M +$4.72M +20,556 +5%
William Blair Investment Management
10
William Blair Investment Management
Illinois
$92.9M +$96.9M +422,594 New
NCM
11
Nellore Capital Management
California
$88.6M +$7.07M +30,805 +8%
Principal Financial Group
12
Principal Financial Group
Iowa
$88.4M +$50.5M +220,239 +121%
DDC
13
DF Dent & Co
Maryland
$86.2M -$5.06M -22,065 -5%
Invesco
14
Invesco
Georgia
$76.3M +$1.5M +6,528 +2%
Macquarie Group
15
Macquarie Group
Australia
$67.4M -$3.15M -13,739 -4%
Arrowstreet Capital
16
Arrowstreet Capital
Massachusetts
$65.5M +$14.7M +64,004 +27%
Renaissance Technologies
17
Renaissance Technologies
New York
$60.9M +$6.19M +27,000 +11%
Morgan Stanley
18
Morgan Stanley
New York
$58.8M +$4.02M +17,536 +7%
Norges Bank
19
Norges Bank
Norway
$56.7M -$4.08M -17,789 -6%
Dimensional Fund Advisors
20
Dimensional Fund Advisors
Texas
$54.7M +$13.7M +59,543 +31%
New York State Common Retirement Fund
21
New York State Common Retirement Fund
New York
$49.6M +$9.78M +42,631 +23%
Bank of New York Mellon
22
Bank of New York Mellon
New York
$45.8M +$271K +1,183 +0.6%
First Trust Advisors
23
First Trust Advisors
Illinois
$43.7M +$16.1M +70,066 +55%
Northern Trust
24
Northern Trust
Illinois
$42.6M +$342K +1,493 +0.8%
Franklin Resources
25
Franklin Resources
California
$41.6M -$13.7M -59,832 -24%