Who owns AppFolio (APPF)
Which tracked institutional funds hold APPF, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See APPF company fundamentals →
Ownership as of the 2026-Q2 13F filings (latest filed 2026-09-22). 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
80 tracked funds added or opened APPF while 88 trimmed or exited it between 2026-Q1 and 2026-Q2 — the tape is split. When large holders disagree on a name, the funds moving first are sometimes ahead of the story.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
APPF’s largest tracked holder by dollar value, BlackRock, Inc., sizes it at 0.0% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 0.0pp gap the other way — the median holder sizes APPF more heavily than its largest holder by dollar value does.
Book-share is each fund’s reported value in APPF divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2026-Q1 and 2026-Q2, across 366 tracked filers holding APPF, 209 increased or opened the position and 220 reduced or closed it; over the same quarter, open-market insider Form 4s were net sales.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in APPF between the 2026-Q1 and 2026-Q2 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 16
- LONDON CO OF VIRGINIA$113M
- WELLINGTON MANAGEMENT GROUP LLP$36M
- HMI Capital Management, L.P.$12M
- ROYCE & ASSOCIATES LP$8M
- Assenagon Asset Management S.A.$3M
- Nicholas Investment Partners, LP$2M
Full exits 35
- GW&K Investment Management, LLC$20M
- Pacer Advisors, Inc.$12M
- CITADEL ADVISORS LLC$11M
- TFJ Management, LLC$8M
- Tidal Investments LLC$8M
- NATIXIS ADVISORS, LLC$5M
Largest adds
- BlackRock, Inc.$168M
- NEUBERGER BERMAN GROUP LLC$63M
- MORGAN STANLEY$45M
- Invesco Ltd.$41M
- PRICE T ROWE ASSOCIATES INC /MD/$31M
- Lead Edge Capital Management, LLC$31M
Largest trims
- JACOBS LEVY EQUITY MANAGEMENT, INC$54M
- NORGES BANK$41M
- ARROWSTREET CAPITAL, LIMITED PARTNERSHIP$23M
- TWO SIGMA INVESTMENTS, LP$17M
- KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC$15M
- Fiera Capital Corp$15M
Institutional holders
One row per tracked fund, most shares held first (every row is from one quarter; reported value breaks ties). “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding.
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| BlackRock, Inc. added | 2,645,927 | $424M | 11.9% | 2026-Q2 |
| PRINCIPAL FINANCIAL GROUP INC added | 1,605,135 | $257M | 7.2% | 2026-Q2 |
| VANGUARD PORTFOLIO MANAGEMENT LLC added | 1,490,058 | $239M | 6.7% | 2026-Q2 |
| Ashe Capital Management, LP | 1,047,915 | $168M | 4.7% | 2026-Q2 |
| VANGUARD CAPITAL MANAGEMENT LLC trimmed | 1,041,438 | $167M | 4.7% | 2026-Q2 |
| STATE STREET CORP added | 766,131 | $123M | 3.4% | 2026-Q2 |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC added | 721,826 | $116M | 3.2% | 2026-Q2 |
| LONDON CO OF VIRGINIA new | 703,151 | $113M | 3.2% | 2026-Q2 |
| PRICE T ROWE ASSOCIATES INC /MD/ added | 700,358 | $112M | 3.2% | 2026-Q2 |
| Nellore Capital Management LLC added | 654,865 | $105M | 2.9% | 2026-Q2 |
| MORGAN STANLEY added | 581,826 | $93M | 2.6% | 2026-Q2 |
| GEODE CAPITAL MANAGEMENT, LLC added | 509,837 | $82M | 2.3% | 2026-Q2 |
| Lead Edge Capital Management, LLC added | 399,656 | $64M | 1.8% | 2026-Q2 |
| NEUBERGER BERMAN GROUP LLC added | 394,158 | $63M | 1.8% | 2026-Q2 |
| KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC trimmed | 351,847 | $56M | 1.6% | 2026-Q2 |
| Keenan Capital, LLC | 334,557 | $54M | 1.5% | 2026-Q2 |
| Invesco Ltd. added | 334,088 | $54M | 1.5% | 2026-Q2 |
| DIMENSIONAL FUND ADVISORS LP added | 321,989 | $52M | 1.4% | 2026-Q2 |
| DF DENT & CO INC trimmed | 318,951 | $51M | 1.4% | 2026-Q2 |
| LONG WALK MANAGEMENT LP added | 304,875 | $49M | 1.4% | 2026-Q2 |
| BANK OF AMERICA CORP /DE/ trimmed | 297,074 | $48M | 1.3% | 2026-Q2 |
| Caledonia (Private) Investments Pty Ltd trimmed | 290,462 | $47M | 1.3% | 2026-Q2 |
| Greenstone Partners & Co., LLC added | 273,617 | $44M | 1.2% | 2026-Q2 |
| NORTHERN TRUST CORP added | 269,597 | $43M | 1.2% | 2026-Q2 |
| FMR LLC added | 251,067 | $40M | 1.1% | 2026-Q2 |
| GILDER GAGNON HOWE & CO LLC trimmed | 250,264 | $40M | 1.1% | 2026-Q2 |
| JENNISON ASSOCIATES LLC added | 238,166 | $38M | 1.1% | 2026-Q2 |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP trimmed | 234,100 | $38M | 1.1% | 2026-Q2 |
| WELLINGTON MANAGEMENT GROUP LLP added | 224,904 | $36M | 1.0% | 2026-Q2 |
| RENAISSANCE TECHNOLOGIES LLC trimmed | 185,840 | $30M | 0.8% | 2026-Q2 |
| JONES FINANCIAL COMPANIES LLLP added | 176,922 | $28M | 0.8% | 2026-Q2 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC added | 165,025 | $26M | 0.7% | 2026-Q2 |
| VANGUARD FIDUCIARY TRUST CO added | 154,922 | $25M | 0.7% | 2026-Q2 |
| Bank of New York Mellon Corp trimmed | 146,702 | $24M | 0.7% | 2026-Q2 |
| WELLS FARGO & COMPANY/MN added | 141,316 | $23M | 0.6% | 2026-Q2 |
| Caisse de depot et placement du Quebec trimmed | 137,947 | $22M | 0.6% | 2026-Q2 |
| UBS Group AG added | 137,692 | $22M | 0.6% | 2026-Q2 |
| FIRST TRUST ADVISORS LP added | 128,660 | $21M | 0.6% | 2026-Q2 |
| AMERIPRISE FINANCIAL INC trimmed | 128,132 | $21M | 0.6% | 2026-Q2 |
| Fiera Capital Corp trimmed | 126,117 | $20M | 0.6% | 2026-Q2 |
| FEDERATED HERMES, INC. added | 123,852 | $20M | 0.6% | 2026-Q2 |
| Sone Capital Management, LLC trimmed | 116,251 | $19M | 0.5% | 2026-Q2 |
| ROYAL BANK OF CANADA added | 108,539 | $17M | 0.5% | 2026-Q2 |
| JPMORGAN CHASE & CO trimmed | 108,071 | $17M | 0.5% | 2026-Q2 |
| Point72 Asset Management, L.P. added | 101,162 | $16M | 0.5% | 2026-Q2 |
| BROWN CAPITAL MANAGEMENT LLC trimmed | 99,549 | $16M | 0.4% | 2026-Q2 |
| RAYMOND JAMES FINANCIAL INC trimmed | 97,598 | $16M | 0.4% | 2026-Q2 |
| NORGES BANK trimmed | 95,576 | $15M | 0.4% | 2026-Q2 |
| CROSSLINK CAPITAL INC added | 93,340 | $15M | 0.4% | 2026-Q2 |
| TenCore Partners, LP trimmed | 88,270 | $14M | 0.4% | 2026-Q2 |
| ENVESTNET ASSET MANAGEMENT INC added | 87,957 | $14M | 0.4% | 2026-Q2 |
| Langdon Equity Partners added | 85,000 | $14M | 0.4% | 2026-Q2 |
| HMI Capital Management, L.P. new | 75,000 | $12M | 0.3% | 2026-Q2 |
| Nuveen, LLC trimmed | 73,301 | $12M | 0.3% | 2026-Q2 |
| Tensile Capital Management LP added | 73,000 | $12M | 0.3% | 2026-Q2 |
| MILLENNIUM MANAGEMENT LLC trimmed | 69,418 | $11M | 0.3% | 2026-Q2 |
| GOLDMAN SACHS GROUP INC trimmed | 66,103 | $11M | 0.3% | 2026-Q2 |
| RHUMBLINE ADVISERS trimmed | 63,170 | $10M | 0.3% | 2026-Q2 |
| NEW YORK STATE COMMON RETIREMENT FUND added | 62,335 | $10M | 0.3% | 2026-Q2 |
| LOOMIS SAYLES & CO L P trimmed | 60,685 | $10M | 0.3% | 2026-Q2 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC added | 58,195 | $9M | 0.3% | 2026-Q2 |
| ZEVENBERGEN CAPITAL INVESTMENTS LLC added | 57,300 | $9M | 0.3% | 2026-Q2 |
| Ranger Investment Management, L.P. trimmed | 56,689 | $9M | 0.3% | 2026-Q2 |
| Gotham Asset Management, LLC added | 55,947 | $9M | 0.3% | 2026-Q2 |
| EULAV Asset Management added | 55,460 | $9M | 0.2% | 2026-Q2 |
| Quantinno Capital Management LP added | 53,018 | $9M | 0.2% | 2026-Q2 |
| RIVERBRIDGE PARTNERS LLC trimmed | 50,837 | $8M | 0.2% | 2026-Q2 |
| ROYCE & ASSOCIATES LP new | 49,159 | $8M | 0.2% | 2026-Q2 |
| Granite Investment Partners, LLC trimmed | 47,738 | $8M | 0.2% | 2026-Q2 |
| Atika Capital Management LLC | 47,500 | $8M | 0.2% | 2026-Q2 |
| Swiss National Bank added | 46,360 | $7M | 0.2% | 2026-Q2 |
| Russell Investments Group, Ltd. trimmed | 43,792 | $7M | 0.2% | 2026-Q2 |
| Creative Planning trimmed | 40,300 | $6M | 0.2% | 2026-Q2 |
| BLAIR WILLIAM & CO/IL trimmed | 37,389 | $6M | 0.2% | 2026-Q2 |
| Legal & General Group Plc added | 30,867 | $5M | 0.1% | 2026-Q2 |
| Squarepoint Ops LLC trimmed | 30,438 | $5M | 0.1% | 2026-Q2 |
| BALYASNY ASSET MANAGEMENT L.P. added | 28,239 | $5M | 0.1% | 2026-Q2 |
| Baker Avenue Asset Management, LP added | 27,360 | $4M | 0.1% | 2026-Q2 |
| ALLIANCEBERNSTEIN L.P. added | 26,851 | $4M | 0.1% | 2026-Q2 |
| JACOBS LEVY EQUITY MANAGEMENT, INC trimmed | 26,708 | $4M | 0.1% | 2026-Q2 |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM added | 26,296 | $4M | 0.1% | 2026-Q2 |
| XTX Topco Ltd trimmed | 26,230 | $4M | 0.1% | 2026-Q2 |
| NORDEA INVESTMENT MANAGEMENT AB trimmed | 26,183 | $4M | 0.1% | 2026-Q2 |
| Retirement Systems of Alabama trimmed | 24,854 | $4M | 0.1% | 2026-Q2 |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM added | 23,899 | $4M | 0.1% | 2026-Q2 |
| VANGUARD ASSET MANAGEMENT, Ltd added | 23,678 | $4M | 0.1% | 2026-Q2 |
| LOS ANGELES CAPITAL MANAGEMENT LLC added | 22,833 | $4M | 0.1% | 2026-Q2 |
| Advisors Capital Management, LLC added | 20,176 | $3M | 0.1% | 2026-Q2 |
| Assenagon Asset Management S.A. added | 19,303 | $3M | 0.1% | 2026-Q2 |
| Orion Porfolio Solutions, LLC added | 19,187 | $3M | 0.1% | 2026-Q2 |
| Davidson Kahn Capital Management, LLC added | 18,930 | $3M | 0.1% | 2026-Q2 |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. added | 18,922 | $3M | 0.1% | 2026-Q2 |
| FRANKLIN RESOURCES INC trimmed | 18,782 | $3M | 0.1% | 2026-Q2 |
| VIRGINIA RETIREMENT SYSTEMS ET Al added | 18,731 | $3M | 0.1% | 2026-Q2 |
| VICTORY CAPITAL MANAGEMENT INC trimmed | 18,371 | $3M | 0.1% | 2026-Q2 |
| Alamar Capital Management, LLC added | 17,950 | $3M | 0.1% | 2026-Q2 |
| AGF MANAGEMENT LTD trimmed | 17,794 | $3M | 0.1% | 2026-Q2 |
| SEI INVESTMENTS CO trimmed | 16,884 | $3M | 0.1% | 2026-Q2 |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE trimmed | 16,537 | $3M | 0.1% | 2026-Q2 |
| CHANNEL WEALTH LLC | 16,486 | $3M | 0.1% | 2026-Q2 |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.