We are live on ! Find out more
APPF icon

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
Vanguard Group
1
Vanguard Group
Pennsylvania
$678M +$14.9M +55,277 +2%
BlackRock
2
BlackRock
New York
$665M +$15.4M +56,882 +2%
ACM
3
Ashe Capital Management
New Jersey
$367M – – –
Principal Financial Group
4
Principal Financial Group
Iowa
$322M +$90.2M +333,861 +40%
State Street
5
State Street
Massachusetts
$187M -$3.81M -14,100 -2%
Kayne Anderson Rudnick Investment Management
6
Kayne Anderson Rudnick Investment Management
California
$170M -$19.1M -70,834 -10%
T. Rowe Price Associates
7
T. Rowe Price Associates
Maryland
$157M +$31.5M +116,609 +26%
William Blair Investment Management
8
William Blair Investment Management
Illinois
$152M -$49M -181,459 -25%
GGHC
9
Gilder Gagnon Howe & Co
New York
$143M -$2.05M -7,584 -1%
Fidelity Investments
10
Fidelity Investments
Massachusetts
$136M -$21.4M -79,386 -14%
NCM
11
Nellore Capital Management
California
$131M -$8.62M -31,928 -6%
Geode Capital Management
12
Geode Capital Management
Massachusetts
$127M +$6.05M +22,381 +5%
DDC
13
DF Dent & Co
Maryland
$118M -$18.2M -67,220 -14%
Invesco
14
Invesco
Georgia
$109M +$22.1M +81,778 +26%
BCM
15
Brown Capital Management
Maryland
$94.3M -$64M -236,803 -41%
Arrowstreet Capital
16
Arrowstreet Capital
Massachusetts
$87.5M +$6.66M +24,642 +8%
LWM
17
Long Walk Management
Connecticut
$79.5M +$3.29M +12,175 +4%
Dimensional Fund Advisors
18
Dimensional Fund Advisors
Texas
$76.8M +$3.38M +12,521 +5%
Northern Trust
19
Northern Trust
Illinois
$67.8M +$14.8M +54,668 +29%
Morgan Stanley
20
Morgan Stanley
New York
$67.3M -$35.5M -131,256 -35%
CIA
21
Caledonia Investments (Australia)
Australia
$62.9M -$2.93M -10,854 -5%
Bank of America
22
Bank of America
North Carolina
$53.5M +$14.5M +53,620 +38%
HWCM
23
Hudson Way Capital Management
Texas
$53.4M +$52.3M +193,596 New
Bank of New York Mellon
24
Bank of New York Mellon
New York
$51.6M -$9.32M -34,518 -16%
Renaissance Technologies
25
Renaissance Technologies
New York
$45.3M -$17.4M -64,598 -28%
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.