Appian
APPN
208 hedge funds and large institutions have $939M invested in Appian in 2026 Q1 according to their latest regulatory filings, with 39 funds opening new positions, 69 increasing their positions, 71 reducing their positions, and 70 closing their positions.
835% more call options, than puts
Call options by funds: $28.2M | Put options by funds: $3.02M
33% more funds holding in top 10
Funds holding in top 10: 3 → 4 (+1)
7.01% more ownership
Funds ownership: 83.83% → 90.84% (+7%)
3% less repeat investments, than reductions
Existing positions increased: 69 | Existing positions reduced: 71
15% less funds holding
Funds holding: 245 → 208 (-37)
26% less capital invested
Capital invested by funds: $1.27B → $939M (-$329M)
44% less first-time investments, than exits
New positions opened: 39 | Existing positions closed: 70
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
RFM
RPD Fund Management
New York
|
+$106M |
| 2 |
FP
Fivespan Partners
San Francisco,
California
|
+$58M |
| 3 |
MA
Mudita Advisors
London,
United Kingdom
|
+$22.8M |
| 4 |
PCM
Prelude Capital Management
New York
|
+$10.6M |
| 5 |
LECM
Lead Edge Capital Management
New York
|
+$8.06M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
D.E. Shaw & Co
New York
|
-$18M |
| 2 |
Marshall Wace
London,
United Kingdom
|
-$17.8M |
| 3 |
CCM
Cinctive Capital Management
New York
|
-$10.5M |
| 4 |
Tudor Investment Corp
Stamford,
Connecticut
|
-$10.1M |
| 5 |
HRCM
Hawk Ridge Capital Management
Los Angeles,
California
|
-$9.29M |
APPN Hedge Fund Activity: Q1 2026 in Review
208 of the 8,187 institutional investors tracked by Wall St. Rank reported a position in Appian (APPN) for Q1 2026, worth a combined $939M — down 26% from $1.27B a quarter earlier.
Sellers outnumbered buyers: 70 funds closed out of APPN and 39 opened new positions — a net loss of 31 holders — while 71 trimmed existing stakes and 69 added.
The largest buyer was RPD Fund Management, opening a new position worth an estimated $106M. The largest seller was D.E. Shaw & Co, cutting an estimated $18M.
- 208 institutional investors held Appian (APPN) as of Q1 2026, down from 245 in Q4 2025.
- Funds reported $939M of Appian stock for Q1 2026, down 26% quarter-over-quarter.
- 39 funds opened new Appian positions in Q1 2026 and 70 closed out, a net change of -31 holders.
- The largest Appian buyer in Q1 2026 was RPD Fund Management, an estimated $106M added.
- The largest Appian seller in Q1 2026 was D.E. Shaw & Co, an estimated $18M sold.
Based on aggregated 13F filings for Q1 2026.