APPFOLIO INC

Ticker: APPF CUSIP: 03783C100 Class: Common Stock

Note: Option positions (PUT/CALL) are excluded.

InstitutionSharesValue ($000)
VANGUARD GROUP INC2,560,460$595,691
BlackRock, Inc.2,368,348$550,996
PRINCIPAL FINANCIAL GROUP INC1,245,949$289,880
Ashe Capital Management, LP1,077,915$250,777
STATE STREET CORP685,656$159,518
PRICE T ROWE ASSOCIATES INC /MD/669,317$156
WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC638,241$148,487
Nellore Capital Management LLC529,696$123,234
KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC520,509$121,096
GEODE CAPITAL MANAGEMENT, LLC472,491$109,947
GILDER GAGNON HOWE & CO LLC419,431$97,581
Invesco Ltd.416,260$96,843
LONG WALK MANAGEMENT LP381,750$88,814
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP361,101$84,010
CITADEL ADVISORS LLC358,915$83,502
Caledonia (Private) Investments Pty Ltd332,635$77,388
DIMENSIONAL FUND ADVISORS LP287,027$66,780
BANK OF AMERICA CORP /DE/283,962$66,064
MILLENNIUM MANAGEMENT LLC281,495$65,490
MORGAN STANLEY275,549$64,107
FMR LLC259,656$60,409
Fiera Capital Corp213,151$49,590
NORTHERN TRUST CORP212,285$49,388
Hudson Way Capital Management LLC202,853$47,194
Greenstone Partners & Co., LLC187,609$43,647
JACOBS LEVY EQUITY MANAGEMENT, INC186,393$43,364
FIRST TRUST ADVISORS LP182,591$42,480
Bank of New York Mellon Corp179,159$41,681
MARSHALL WACE, LLP169,929$39,534
CHARLES SCHWAB INVESTMENT MANAGEMENT INC154,947$36,048
BROWN CAPITAL MANAGEMENT LLC152,123$35,391
GW&K Investment Management, LLC149,087$35
RENAISSANCE TECHNOLOGIES LLC146,520$34,088
CAISSE DE DEPOT ET PLACEMENT DU QUEBEC139,629$32,485
JENNISON ASSOCIATES LLC129,401$30,105
Capital Impact Advisors, LLC128,314$29,852
Ranger Investment Management, L.P.114,290$26,590
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC109,089$25,622
TWO SIGMA INVESTMENTS, LP99,876$23,236
WELLS FARGO & COMPANY/MN99,518$23,153
NORGES BANK97,976$22,794
RAYMOND JAMES FINANCIAL INC97,919$23,038
Russell Investments Group, Ltd.85,613$19,918
JPMORGAN CHASE & CO80,657$18,765
Sone Capital Management, LLC64,542$15,016
LOOMIS SAYLES & CO L P63,940$14,876
Nuveen, LLC62,479$14,536
RHUMBLINE ADVISERS60,879$14,163
ENVESTNET ASSET MANAGEMENT INC60,646$14,109
UBS ASSET MANAGEMENT AMERICAS INC57,767$13,439
NEW YORK STATE COMMON RETIREMENT FUND57,619$13,405
EULAV Asset Management55,449$12,900
BLAIR WILLIAM & CO/IL53,626$12,476
Rockefeller Capital Management L.P.52,416$12,195
Toroso Investments, LLC46,757$10,878
GOLDMAN SACHS GROUP INC44,958$10,459
LPL Financial LLC44,594$10,375
Insight Holdings Group, LLC44,550$10,365
Atika Capital Management LLC44,500$10,353
ROYAL BANK OF CANADA43,884$10,210
Swiss National Bank42,840$9,967
Bridgewater Associates, LP42,436$9,873
Quantinno Capital Management LP41,216$9,589
Creative Planning41,004$9,540
SEI INVESTMENTS CO40,007$9,308
UBS Group AG39,965$9,298
Nicholas Investment Partners, LP39,591$9,211
MISSION WEALTH MANAGEMENT, LP39,107$9,098
Verition Fund Management LLC37,651$8,760
Squarepoint Ops LLC37,601$8,748
NORDEA INVESTMENT MANAGEMENT AB37,558$8,795
Edgestream Partners, L.P.36,779$8,557
TFJ Management, LLC36,166$8,414
Quantum Capital Management, LLC / NJ34,366$7,995
Legal & General Group Plc33,432$7,778
NATIXIS ADVISORS, L.P.32,325$8
Man Group plc32,038$7,454
Thrivent Financial for Lutherans31,646$7
AQR CAPITAL MANAGEMENT LLC30,300$7,049
BARCLAYS PLC29,821$6,938
Retirement Systems of Alabama27,692$6,443
PANAGORA ASSET MANAGEMENT INC27,288$6,349
TWO SIGMA ADVISERS, LP26,606$6,190
GREAT WEST LIFE ASSURANCE CO /CAN/25,594$6
BALYASNY ASSET MANAGEMENT L.P.25,456$5,922
CROSSLINK CAPITAL INC25,025$5,822
ALLIANCEBERNSTEIN L.P.24,670$5,739
AMERIPRISE FINANCIAL INC22,737$5,288
VICTORY CAPITAL MANAGEMENT INC22,448$5,223
CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM20,651$4,804
JANUS HENDERSON GROUP PLC19,872$4,624
KCM INVESTMENT ADVISORS LLC19,686$4,580
FRANKLIN RESOURCES INC19,634$4,568
Advisors Capital Management, LLC19,285$4,487
STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM18,126$4,217
MANUFACTURERS LIFE INSURANCE COMPANY, THE16,687$3,882
CHANNEL WEALTH LLC16,488$3,836
Kerrisdale Advisers, LLC16,016$3,726
Baker Avenue Asset Management, LP15,330$3,567
Brinker Capital Investments, LLC14,149$3,292
297 other institutions749,900$154,402
Total (397 institutions)20,513,087$4,541,871