Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

APPFOLIO INC (APPF)

387 + Investors. Track Smart Money conviction in APPF. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -4
Streak
1Q ▼
Buyers last Q
53%

Smart Money Signals — APPF

Based on 376 hedge funds · latest filing: 2025 Q4 · updated quarterly

📉

Selling streak — 1 quarter in a row

last 6Q
For 1 consecutive quarter, more hedge funds reduced or closed their APPF positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🏔️

At the ownership peak (99% of max)

99% of all-time peak
376 hedge funds hold APPF right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
〰️

Stable — ownership unchanged year-over-year

fund count last 6Q
The number of hedge funds holding APPF is almost the same as a year ago (+9 funds, +2% change). No significant rush to buy or sell — institutional backing is holding steady.
🟡

Slight buying edge — 53% buying

211 buying190 selling
Last quarter: 211 funds bought or added vs 190 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
⚠️

Fewer new buyers each quarter (-13 vs last Q)

new funds entering per quarter
Funds opening this position for the first time: 66 → 59 → 75 → 62. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
🔒

45% of holders stayed for 2+ years

■ 45% conviction (2yr+) ■ 35% medium ■ 19% new
171 out of 376 hedge funds have held APPF for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
💎

Buying through price weakness — shares +6%, value -11%

Value
-11%
Shares
+5%
Last quarter: funds added +6% more shares while total portfolio value only changed -11%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️

Steady discovery — ~62 new funds/quarter

56 → 66 → 59 → 75 → 62 new funds/Q
New funds entering each quarter: 66 → 59 → 75 → 62. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️

Deep conviction — 51% of holders stayed 2+ years

■ 51% veterans ■ 23% 1-2yr ■ 26% new
Of 387 current holders: 199 (51%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
🏆

Elite ownership — 41% AUM from top-100 funds

41% from top-100 AUM funds
42 of 376 holders are among the 100 largest funds by AUM, controlling 41% of total institutional value in APPF. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
3.5
out of 10
Low Exit Risk
Exit risk score 3.5/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — APPF

In 2025 Q4, 211 hedge funds were net buyers of APPF (62 opened a new position, 149 added to an existing one), while 190 reduced or exited (124 trimmed, 66 sold completely) — a 53% buyer ratio, indicating a slight buying edge. 41% of total institutional value in APPF is held by top-100 AUM funds, reflecting elite-tier ownership quality. Net fund flow last quarter: -4 funds (more exits than new entries). Total institutional holders: 376.

Hedge Fund Ownership: APPF

How many hedge funds hold APPF — quarterly history vs. share price
Quarterly hedge fund ownership of APPF vs. share price

Market Analysis: APPF

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: APPF

Technology Software - Application

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Smart Money Signal ?
Broad Consensus, Selective Conviction

Many quality funds hold this stock, but top-tier positions remain relatively small.

56 top-rated funds 2 high-conviction
Consensus
7.6
/ 10
breadth
×
Elite
2.3
/ 10
conviction
Hedge Fund Positioning: APPF
2026 Q1 Stats Unlock in 8 days 387 + Investors

Track Smart Money conviction in APPF. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2025 Q4) Prior (2025 Q3) Change
Funds Holding 387 392 -1.28%
13F Shares 21M 20M 5.59%
Total Value $4.74B $5.34B -11.15%
New Positions 63 80 -17
Increased Positions 159 138 +21
Closed Positions 69 51 +18
Reduced Positions 138 133 +5
Total Calls 7 9 -22.22%
Total Puts 8 7 14.29%
PUT/CALL Ratio 1.14 0.78 Neutral

Statistics: APPF

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Short % of Float --

Financial Highlights

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Institutional Holders (2026 Q1)

387 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in APPF. Verified SEC 13F-HR filings.

Top 25 institutional holders of APPF — 2025 Q4 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 TenCore Partners, LP 13.48% 109,905 $17.3M
2 Davidson Kahn Capital Management, LLC 1.49% 17,706 $2.8M
3 Index Technologies Group LLC 0.73% 4,228 $667K
4 Quantum Portfolio Management LLC 0.48% 7,018 $1.1M
5 Granite Investment Partners, LLC 0.47% 48,774 $7.7M
6 LECAP ASSET MANAGEMENT LTD 0.44% 7,453 $1.2M
7 RIVERBRIDGE PARTNERS LLC 0.34% 88,112 $13.9M
8 WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC 0.34% 643,231 $101.5M
9 EULAV Asset Management 0.28% 55,449 $8.8M
10 Yorktown Management & Research Co Inc 0.26% 1,950 $308K
11 Three Seasons Wealth, LLC 0.19% 3,138 $495K
12 ZEVENBERGEN CAPITAL INVESTMENTS LLC 0.17% 38,300 $6.0M
13 Y-Intercept (Hong Kong) Ltd 0.15% 51,263 $8.1M
14 MQS Management LLC 0.15% 1,375 $217K
15 HUSSMAN STRATEGIC ADVISORS, INC. 0.14% 4,200 $663K
16 PRINCIPAL FINANCIAL GROUP INC 0.13% 1,505,882 $237.7M
17 HMS Capital Management, LLC 0.10% 1,597 $252K
18 Quent Capital, LLC 0.08% 7,103 $1.1M
19 DGS Capital Management, LLC 0.07% 2,883 $455K
20 AZZAD ASSET MANAGEMENT INC /ADV 0.07% 4,471 $706K
21 LVZ, Inc. 0.06% 3,523 $556K
22 Covestor Ltd 0.06% 539 —
23 Verdence Capital Advisors LLC 0.05% 5,649 $892K
24 Evanson Asset Management, LLC 0.05% 6,000 $947K
25 First Bank & Trust 0.05% 1,776 $280K
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — APPFOLIO INC (APPF)

What does the Smart Money Trend signal show for APPF?

Selling streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds reduced or closed their APPF positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

What is the institutional breadth score for APPF?

Slight buying edge — 53% buying: Last quarter: 211 funds bought or added vs 190 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.

What is the fund quality score for APPF holders?

Elite ownership — 41% AUM from top-100 funds: 42 of 376 holders are among the 100 largest funds by AUM, controlling 41% of total institutional value in APPF. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

How long have hedge funds held APPF?

45% of holders stayed for 2+ years: 171 out of 376 hedge funds have held APPF for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.