AppFolio, Inc.
US ˙ NasdaqGM ˙ US03783C1009

SecurityAPPF / AppFolio, Inc.
InstitutionBrown Capital Management Llc
Latest Disclosed Ownership804,645 shares
Ownership 3.50%
Brown Capital Management Llc ownership in APPF / AppFolio, Inc.

2024-11-14 - Brown Capital Management Llc has filed an SC 13G/A form with the Securities and Exchange Commission (SEC) disclosing ownership of 804,645 shares of AppFolio, Inc. (US:APPF). This represents 3.5 percent ownership of the company. In their previous filing dated 2024-02-14 , Brown Capital Management Llc had reported owning 1,585,560 shares, indicating a decrease of -49.25 percent.

Institutional Ownership: 13D/G Filings

This table shows a history of the 13D/G filings made by the investor and/or investor group. Note that the share values in this table are not directly comparable to any numbers shown in the 13F table (if any).

File
Date		Effective
Date		Form Prev
Shares		 Latest
Shares		 ΔShares
(Percent)		 Ownership
(Percent)		 ΔOwnership
(Percent)
2024-11-14 2024-11-14 13G/A 1,585,560 804,645 -49.25 3.50 -52.25
2024-02-14 2024-02-14 13G/A 1,810,598 1,585,560 -12.43 7.33 -15.26
2023-10-25 2023-10-25 13G/A 2,800,675 1,810,598 -35.35 8.65 -36.95
2023-02-14 2023-02-14 13G/A 3,293,679 2,800,675 -14.97 13.72 -19.95
2022-02-14 2022-02-14 13G/A 2,642,746 3,293,679 24.63 17.14 17.40
2021-02-12 2021-02-12 13G/A 1,816,553 2,642,746 45.48 14.60 33.33
2020-04-09 2020-04-09 13G/A 1,624,454 1,816,553 11.83 10.95 10.61
2020-02-14 2020-02-14 13G/A 1,503,089 1,624,454 8.07 9.90 7.73
2019-10-09 2019-10-09 13G/A 928,729 1,503,089 61.84 9.19 57.90
2019-07-10 2019-07-10 13G 928,729 5.82

Important Note: One of the primary uses of the 13D/G filings is to evaluate the ability of a firm to control a company (ie, the "beneficial ownership"). To that end, firms are required to report not just direct holdings in companies, but indirect holdings that they control. For investment firms, these indirect holdings can include shares in funds they manage, advisory accounts, and in the case of activist campaigns, pledged votes. Therefore, share counts listed in 13D/G filings can differ significantly than share counts listed in 13F filings.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-14 2026-03-31 13F APPFOLIO COM CL A 03783C100 108,134 -43,989 -28.92 17,066 -51.78 2.4241
2026-02-17 2025-12-31 13F APPFOLIO COM CL A 03783C100 152,123 -189,819 -55.51 35,391 -62.45 2.9030
2025-11-04 2025-09-30 13F APPFOLIO COM CL A 03783C100 341,942 -236,803 -40.92 94,260 -29.27 3.8846
2025-08-13 2025-06-30 13F APPFOLIO COM CL A 03783C100 578,745 -33,084 -5.41 133,273 -0.94 3.8763
2025-05-15 2025-03-31 13F APPFOLIO COM CL A 03783C100 611,829 -70,204 -10.29 134,541 -20.05 4.0552
2025-02-14 2024-12-31 13F APPFOLIO COM CL A 03783C100 682,033 -122,612 -15.24 168,271 -11.16 3.8992
2024-11-12 2024-09-30 13F APPFOLIO COM CL A 03783C100 804,645 -105,534 -11.59 189,413 -14.91 4.0759
2024-08-12 2024-06-30 13F APPFOLIO COM CL A 03783C100 910,179 -225,753 -19.87 222,602 -20.58 4.4977
2024-05-15 2024-03-31 13F APPFOLIO COM CL A 03783C100 1,135,932 -449,628 -28.36 280,280 2.04 4.9605
2024-02-14 2023-12-31 13F APPFOLIO COM CL A 03783C100 1,585,560 -225,038 -12.43 274,682 -16.93 4.1215
2023-11-14 2023-09-30 13F APPFOLIO COM CL A 03783C100 1,810,598 -183,377 -9.20 330,670 -3.66 5.0684
2023-08-14 2023-06-30 13F APPFOLIO COM CL A 03783C100 1,993,975 -714,582 -26.38 343,243 1.80 4.8693
2023-05-15 2023-03-31 13F APPFOLIO COM CL A 03783C100 2,708,557 -92,118 -3.29 337,161 14.24 5.0395
2023-02-14 2022-12-31 13F APPFOLIO COM CL A 03783C100 2,800,675 -354,841 -11.25 295,135 -10.69 4.8819
2022-11-14 2022-09-30 13F APPFOLIO COM CL A 03783C100 3,155,516 -14,505 -0.46 330,446 15.01 4.6330
2022-08-15 2022-06-30 13F APPFOLIO COM CL A 03783C100 3,170,021 -131,264 -3.98 287,331 -23.12 3.8473
2022-05-16 2022-03-31 13F APPFOLIO COM CL A 03783C100 3,301,285 7,606 0.23 373,738 -6.27 3.7194
2022-02-14 2021-12-31 13F APPFOLIO COM CL A 03783C100 3,293,679 -13,594 -0.41 398,733 0.13 3.2990
2021-11-15 2021-09-30 13F APPFOLIO COM CL A 03783C100 3,307,273 -88,371 -2.60 398,196 -16.95 3.2608
2021-08-16 2021-06-30 13F APPFOLIO COM CL A 03783C100 3,395,644 535,970 18.74 479,465 18.57 3.6338
2021-05-14 2021-03-31 13F APPFOLIO COM CL A 03783C100 2,859,674 216,928 8.21 404,387 -15.01 3.0103
2021-02-16 2020-12-31 13F APPFOLIO COM CL A 03783C100 2,642,746 5,944 0.23 475,800 27.24 3.2873
2020-11-13 2020-09-30 13F APPFOLIO COM CL A 03783C100 2,636,802 1,015 0.04 373,925 -12.81 3.0992
2020-08-07 2020-06-30 13F/A-1 APPFOLIO COM CL A 03783C100 2,635,787 819,234 45.10 428,869 112.79 3.6872
2020-07-22 2020-06-30 13F APPFOLIO COM CL A 03783C100 1,816,553 0 201,547 2,336,232.0971
2020-05-08 2020-03-31 13F APPFOLIO COM CL A 03783C100 1,816,553 192,099 11.83 201,547 12.84 2.3362
2020-02-14 2019-12-31 13F APPFOLIO COM CL A 03783C100 1,624,454 121,365 8.07 178,609 24.90 1.7082
2019-11-13 2019-09-30 13F APPFOLIO COM CL A 03783C100 1,503,089 574,360 61.84 143,004 50.56 1.3877
2019-08-13 2019-06-30 13F APPFOLIO COM CL A 03783C100 928,729 928,729 94,981 0.9009
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.