Applovin Corporation

APP • NASDAQ

Applovin Corporation is a software - application company in the technology sector on NASDAQ, led by Adam Foroughi, with a market cap of $231.09B. As of Q3 2025, 71% of shares are held by 1,398 institutional investors, with VANGUARD GROUP INC as the largest holder at 7.38%.

Chief Executive OfficerAdam Foroughi

Market Cap$231.09B

Software - Application

Technology

Employees1.7K

Websiteapplovin.com

Country

United States of America

Overview

Overview of institutional ownership in APP as of Q3 2025 with a market cap of $243.05B

All Institutions

Institutions: 1,398
Value Held: $171.40B
Shares Held: 240.1M
Avg Position: $122.6M
Median Position: $1.6M

Hedge Funds

Hedge Funds: 116
Value Held: $15.4B
Shares Held: 21.4M
Avg Position: $132.7M
Median Position: $12.3M

Ownership Breakdown

Institutional (non-HF)

64.19%

$156.00B

Hedge Funds

6.33%

$15.4B

Retail & Other

29.48%

$71.6B

Based on market cap of $243.05B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in APP as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
VANGUARD GROUP INC Institution	Salim Ramji CEO	$17.9B 0.27% of portfolio	7.38% 25.0M shares	Q2 2021 Held for 4y 5m	$6.69T
B BlackRock, Inc. Institution	-	$17.9B 0.32% of portfolio	7.37% 24.9M shares	Q2 2021 Held for 4y 5m	$5.67T
IEQ CAPITAL, LLC RIA/Wealth	Eric Scott Harrison Managing Partner	$11.3B 34.40% of portfolio	4.67% 15.8M shares	Q4 2022 Held for 2y 11m	$33.0B
FMR LLC Institution	-	$9.8B 0.51% of portfolio	4.05% 13.7M shares	Q2 2021 Held for 4y 5m	$1.92T
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$8.5B 0.30% of portfolio	3.50% 11.9M shares	Q2 2021 Held for 4y 5m	$2.88T
JPMORGAN CHASE & CO Institution	Jamie Dimon CEO	$5.5B 0.35% of portfolio	2.27% 7.7M shares	Q2 2021 Held for 4y 5m	$1.56T
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$4.8B 0.31% of portfolio	1.99% 6.7M shares	Q2 2021 Held for 4y 5m	$1.57T
B BAILLIE GIFFORD & CO Institution	-	$4.5B 3.33% of portfolio	1.85% 6.2M shares	Q3 2024 Held for 1y 2m	$134.80B
PRICE T ROWE ASSOCIATES INC /MD/ Long Only Manager	Robert W Sharps President	$4.2B 0.46% of portfolio	1.74% 5.9M shares	Q3 2021 Held for 4y 2m	$912.31B
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$3.6B 0.22% of portfolio	1.48% 5.0M shares	Q2 2021 Held for 4y 5m	$1.65T

Net Capital Flow

Institutional buying and selling activity for APP in Q3 2025

Net Flow: +$28.7B
Buyers: 531
Sellers: 542
Total Bought: +$42.0B
Total Sold: −$13.3B
Avg Position: $144.7M

Biggest Buyers

Institution	Net Bought	Current Position
IEQ CAPITAL, LLC RIA/Wealth	+$11.3B +15.7M shares	$11.3B 15.8M shares
VANGUARD GROUP INC Institution	+$5.1B +7.1M shares	$17.9B 25.0M shares
STATE STREET CORP Institution	+$4.5B +6.2M shares	$8.5B 11.9M shares
B BlackRock, Inc. Institution	+$4.3B +6.0M shares	$17.9B 24.9M shares
GEODE CAPITAL MANAGEMENT LLC ETF Provider	+$2.4B +3.4M shares	$4.8B 6.7M shares
JPMORGAN CHASE & CO Institution	+$2.1B +2.9M shares	$5.5B 7.7M shares
JENNISON ASSOCIATES LLC Long Only Manager	+$993.0M +1.4M shares	$2.8B 3.9M shares
GOLDMAN SACHS GROUP INC Institution	+$892.5M +1.2M shares	$2.3B 3.2M shares
SCHWAB CHARLES INVESTMENT MANAGEMENT INC Long Only Manager	+$627.1M +872.8K shares	$1.3B 1.9M shares
HENDERSON GROUP PLC Institution	+$584.0M +812.7K shares	$2.5B 3.5M shares

Biggest Sellers

Institution	Net Sold	Current Position
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$1.8B −2.6M shares	$16.7M 23.3K shares
D D. E. Shaw & Co., Inc. Institution	−$987.7M −1.4M shares	$353.0M 491.2K shares
ARROWSTREET CAPITAL LIMITED PARTNERSHIP Hedge Fund•Quant	−$694.5M −966.5K shares	$677.1M 942.3K shares
WCM INVESTMENT MANAGEMENT/CA Long Only Manager	−$653.5M −917.3K shares	$3.5B 4.9M shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	−$560.6M −780.2K shares	$142.5M 198.4K shares
H HRT FINANCIAL LLC Institution	−$552.1M −1.6M shares	Sold Off 0 shares
FMR LLC Institution	−$489.7M −681.6K shares	$9.8B 13.7M shares
F FRED ALGER MANAGEMENT INC Long Only Manager	−$313.1M −435.7K shares	$1.4B 1.9M shares
A Amundi Institution	−$300.6M −512.1K shares	$462.0M 787.1K shares
Q Qube Research & Technologies Ltd Institution	−$295.8M −845.1K shares	Sold Off 0 shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited APP in Q3 2025

New Positions: 306
New Value: $2.5B
Exited Positions: 123
Exited Value: $1.7B

New Positions

Institution	Position Value
Capital Research Global Investors RIA/Wealth	$743.9M 1.0M shares
A AXIOM INTERNATIONAL INVESTORS LLC /DE Long Only Manager	$445.8M 620.5K shares
Z Zurich Insurance Group Ltd/FI Institution	$199.7M 278.0K shares
A ADAGE CAPITAL PARTNERS GP LLC Institution	$176.9M 246.2K shares
A AGF MANAGEMENT LTD Institution	$116.3M 161.9K shares
Chevy Chase Trust Holdings, Inc. RIA/Wealth	$99.4M 138.4K shares
R Rheos Capital Works Inc. Institution	$63.2M 88.0K shares
A Avala Global LP Hedge Fund•Long/Short	$57.3M 79.8K shares
PointState Capital LP Hedge Fund•Multi-Strategy	$51.9M 72.3K shares
C Czech National Bank Institution	$49.4M 68.8K shares

Exited Positions

Institution	Previous Position
H HRT FINANCIAL LLC Institution	$552.1M 1.6M shares
Q Qube Research & Technologies Ltd Institution	$295.8M 845.1K shares
B Brevan Howard Capital Management LP Institution	$92.3M 263.8K shares
N NATIXIS Institution	$65.6M 187.4K shares
VOLORIDGE INVESTMENT MANAGEMENT, LLC Hedge Fund•Multi-Strategy	$63.6M 181.8K shares
ExodusPoint Capital Management, LP Hedge Fund•Multi-Strategy	$59.1M 168.7K shares
WORLDQUANT MILLENNIUM QUANTITATIVE STRATEGIES LLC Hedge Fund•Multi-Strategy	$49.3M 140.9K shares
Marshall Wace LLP Institution	$49.2M 140.5K shares
T TWINBEECH CAPITAL LP Hedge Fund•Quant	$46.1M 131.8K shares
Jain Global LLC Hedge Fund•Multi-Strategy	$40.2M 114.9K shares

Options Activity

Institutions with the largest Call and Put options positions in APP as of Q3 2025

Call Positions: 63
Call Value: $14.2B
Put Positions: 55
Put Value: $9.5B

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$4.4B 61.0K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$2.4B 32.8K contracts
J JANE STREET GROUP, LLC Institution	$2.2B 31.1K contracts
CITIGROUP INC Institution	$1.2B 17.4K contracts
W WOLVERINE TRADING, LLC Institution	$662.7M 9.3K contracts
GOLDMAN SACHS GROUP INC Institution	$493.6M 6.9K contracts
SUSQUEHANNA ADVISORS GROUP, INC. Private Equity	$483.6M 6.7K contracts
P PEAK6 LLC Institution	$275.8M 3.8K contracts
Caption Management, LLC Hedge Fund•Long/Short	$240.7M 3.4K contracts
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	$193.4M 2.7K contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$3.8B 53.3K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$1.5B 20.4K contracts
J JANE STREET GROUP, LLC Institution	$1.4B 20.2K contracts
GOLDMAN SACHS GROUP INC Institution	$402.6M 5.6K contracts
W WOLVERINE TRADING, LLC Institution	$326.8M 4.6K contracts
WELLS FARGO & COMPANY/MN Institution	$258.5M 3.6K contracts
D D. E. Shaw & Co., Inc. Institution	$191.7M 2.7K contracts
Q Qube Research & Technologies Ltd Institution	$171.9M 2.4K contracts
P PEAK6 LLC Institution	$166.3M 2.3K contracts
S Squarepoint Ops LLC Hedge Fund•Quant	$149.6M 2.1K contracts

Most Committed Institutions

Institutions with APP as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
AUGUSTINE ASSET MANAGEMENT INC RIA/Wealth	Milena Spasova President	38.70% $192.3M	0.08% 267.7K shares	Q3 2022 Held for 3y 2m	$497.0M
SPRUCE HOUSE INVESTMENT MANAGEMENT LLC Hedge Fund•Long/Short	Keith Robert Cozza President	38.18% $1.5B	0.61% 2.1M shares	Q2 2021 Held for 4y 5m	$3.9B
KENSICO CAPITAL MANAGEMENT CORP Hedge Fund•Multi-Strategy	Michael Bernard Lowenstein President	34.52% $2.2B	0.92% 3.1M shares	Q2 2022 Held for 3y 5m	$6.5B
IEQ CAPITAL, LLC RIA/Wealth	Eric Scott Harrison Managing Partner	34.40% $11.3B	4.67% 15.8M shares	Q4 2022 Held for 2y 11m	$33.0B
K Keenan Capital, LLC Hedge Fund•Value	Alex Prywes Director	28.85% $147.8M	0.06% 205.7K shares	Q2 2021 Held for 4y 5m	$512.3M
T TFJ Management, LLC Hedge Fund•Long/Short	Matthew Lawrence Fisher Managing Partner	26.38% $39.2M	0.02% 54.5K shares	Q4 2024 Held for 11 months	$148.4M
P Panview Capital Ltd Institution	-	23.13% $54.4M	0.02% 75.7K shares	Q4 2024 Held for 11 months	$235.1M
M MGB Wealth Management, LLC RIA/Wealth	Michael Glen Bailey CCO	18.42% $65.2M	0.03% 90.8K shares	Q4 2023 Held for 1y 11m	$354.0M
3G Capital Partners Ltd. Private Equity	Daniel S Schwartz Managing Partner	17.33% $68.3M	0.03% 95.0K shares	Q1 2024 Held for 1y 8m	$393.8M
Steadview Capital Management LLC Hedge Fund•Long/Short	Ravi A Mehta Managing Partner	17.02% $118.8M	0.05% 165.3K shares	Q1 2024 Held for 1y 8m	$697.7M

Hedge Fund Spotlight

Discover hedge funds investing in APP

ARROWSTREET CAPITAL LIMITED PARTNERSHIP

Hedge Fund • Quant

Portfolio ManagerAnthony Ryan

Portfolio Value: $158.92B
Positions: 1,827
Last Reported: Q3 2025

Sector Allocation

Position in Applovin Corporation

Market Value: $677.1M
Shares Held: 942.3K
Portfolio Weight: 0.43%
Owned Since: 2023-Q4

Top Holding	Sector	Market Value	Weight
1 Apple AAPL	Consumer Electronics Technology	$7.2B	4.51%
2 Microsoft MSFT	Software - Infrastructure Technology	$6.5B	4.11%
3 Nvidia NVDA	Semiconductors Technology	$4.8B	3.02%