Appian Corporation

APPN • NASDAQ

Appian Corporation is a software - infrastructure company in the technology sector on NASDAQ, led by Matthew Calkins, with a market cap of $2.8B. As of Q3 2025, 49% of shares are held by 232 institutional investors, with VANGUARD GROUP INC as the largest holder at 8.02%.

Chief Executive OfficerMatthew Calkins

Market Cap$2.8B

Software - Infrastructure

Technology

Employees2.2K

Websiteappian.com

Country

United States of America

Overview

Overview of institutional ownership in APPN as of Q3 2025 with a market cap of $2.3B

All Institutions

Institutions: 232
Value Held: $1.1B
Shares Held: 36.1M
Avg Position: $4.8M
Median Position: $369.0K

Hedge Funds

Hedge Funds: 47
Value Held: $275.3M
Shares Held: 9.0M
Avg Position: $5.9M
Median Position: $1.1M

Ownership Breakdown

Institutional (non-HF)

36.57%

$827.7M

Hedge Funds

12.17%

$275.3M

Retail & Other

51.26%

$1.2B

Based on market cap of $2.3B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in APPN as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
VANGUARD GROUP INC Institution	Salim Ramji CEO	$181.5M 0.00% of portfolio	8.02% 5.9M shares	Q2 2017 Held for 8y 5m	$6.69T
B BlackRock, Inc. Institution	-	$103.9M 0.00% of portfolio	4.59% 3.4M shares	Q2 2017 Held for 8y 5m	$5.67T
Lead Edge Capital Management, LLC Venture Capital	Mitchell Howard Green Founder	$55.4M 14.63% of portfolio	2.45% 1.8M shares	Q2 2024 Held for 1y 5m	$378.5M
Abdiel Capital Advisors, LP Hedge Fund•Long/Short	Geoffrey Michael Gentile Managing Partner	$40.5M 12.25% of portfolio	1.79% 1.3M shares	Q2 2017 Held for 8y 5m	$330.5M
ARROWSTREET CAPITAL LIMITED PARTNERSHIP Hedge Fund•Quant	Anthony Ryan CEO	$39.5M 0.02% of portfolio	1.74% 1.3M shares	Q4 2024 Held for 11 months	$158.92B
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$37.9M 0.00% of portfolio	1.67% 1.2M shares	Q2 2017 Held for 8y 5m	$1.65T
FIRST TRUST ADVISORS LP ETF Provider	James Allen Bowen CEO	$32.8M 0.02% of portfolio	1.45% 1.1M shares	Q3 2018 Held for 7y 2m	$134.11B
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$31.5M 0.00% of portfolio	1.39% 1.0M shares	Q3 2017 Held for 8y 2m	$2.88T
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$30.8M 0.00% of portfolio	1.36% 1.0M shares	Q3 2017 Held for 8y 2m	$1.57T
Wolf Hill Capital Management, LP Hedge Fund•Long/Short	Gary Steven Lehrman Founder	$30.4M 2.67% of portfolio	1.34% 995.2K shares	Q2 2025 Held for 5 months	$1.1B

Net Capital Flow

Institutional buying and selling activity for APPN in Q3 2025

Traded: +$18.2M
Buyers: 133
Sellers: 79
Total Bought: +$283.9M
Total Sold: −$265.7M
Avg Position: $4.2M

Biggest Buyers

Institution	Net Bought	Current Position
Wolf Hill Capital Management, LP Hedge Fund•Long/Short	+$22.8M +745.2K shares	$30.4M 995.2K shares
VANGUARD GROUP INC Institution	+$20.8M +681.6K shares	$181.5M 5.9M shares
MORGAN STANLEY RIA/Wealth	+$18.4M +601.6K shares	$37.9M 1.2M shares
ARROWSTREET CAPITAL LIMITED PARTNERSHIP Hedge Fund•Quant	+$18.4M +600.3K shares	$39.5M 1.3M shares
N Nuveen, LLC Institution	+$15.6M +509.5K shares	$18.1M 593.7K shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	+$12.3M +400.8K shares	$18.5M 606.5K shares
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$11.5M +375.4K shares	$19.0M 622.1K shares
ALGERT COLDIRON INVESTORS LLC Hedge Fund•Quant	+$10.9M +355.8K shares	$13.1M 429.5K shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$10.2M +333.0K shares	$12.3M 403.0K shares
R ROYAL BANK OF CANADA Institution	+$9.1M +296.9K shares	$9.2M 300.8K shares

Biggest Sellers

Institution	Net Sold	Current Position
Abdiel Capital Advisors, LP Hedge Fund•Long/Short	−$195.4M −6.4M shares	$40.5M 1.3M shares
D D. E. Shaw & Co., Inc. Institution	−$8.0M −262.6K shares	$19.8M 647.1K shares
HENDERSON GROUP PLC Institution	−$7.0M −227.8K shares	$3.7M 122.4K shares
P PineBridge Investments Ltd Institution	−$5.5M −183.5K shares	Sold Off 0 shares
Marshall Wace LLP Institution	−$5.0M −163.8K shares	$13.6M 445.6K shares
Stanley-Laman Group, Ltd. RIA/Wealth	−$4.3M −143.8K shares	Sold Off 0 shares
Y Y-Intercept Ltd Institution	−$3.3M −107.4K shares	$804.1K 26.3K shares
D DARK FOREST CAPITAL MANAGEMENT LP Pension/Endowment	−$3.2M −104.3K shares	$1.7M 55.7K shares
H HUSSMAN STRATEGIC ADVISORS, INC. Institution	−$3.1M −105.0K shares	Sold Off 0 shares
J J. Goldman & Co LP Hedge Fund•Multi-Strategy	−$2.7M −90.2K shares	Sold Off 0 shares

Entry and Exit Activity

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

New Positions: 14
New Value: $4.5M
Exited Positions: 28
Exited Value: $21.1M

New Positions

Institution	Position Value
CAPITAL FUND MANAGEMENT S.A. Hedge Fund•Quant Macro	$1.8M 59.0K shares
Voleon Capital Management LP Hedge Fund•Quant	$924.1K 30.2K shares
Mariner Wealth Advisors, LLC RIA/Wealth	$498.5K 16.3K shares
U Universal- Beteiligungs- und Servicegesellschaft mbH Institution	$467.6K 15.3K shares
FourThought Financial Partners, LLC RIA/Wealth	$292.3K 9.6K shares
Savant Capital, LLC RIA/Wealth	$274.1K 9.0K shares
Bayforest Capital Ltd Hedge Fund•Quant	$223.6K 7.3K shares
Point72 Europe LLP Digital Asset Manager	$22.3K 731.0 shares
A Avalon Trust Co Institution	$15.3K 500.0 shares
O Optiver Holding B.V. Institution	$8.4K 276.0 shares

Exited Positions

Institution	Previous Position
P PineBridge Investments Ltd Institution	$5.5M 183.5K shares
Stanley-Laman Group, Ltd. RIA/Wealth	$4.3M 143.8K shares
H HUSSMAN STRATEGIC ADVISORS, INC. Institution	$3.1M 105.0K shares
J J. Goldman & Co LP Hedge Fund•Multi-Strategy	$2.7M 90.2K shares
IMC-Chicago, LLC RIA/Wealth	$1.4M 45.9K shares
Chicago Partners Investment Group LLC RIA/Wealth	$1.0M 33.9K shares
Holocene Advisors, LP Hedge Fund•Long/Short	$499.3K 16.7K shares
S S.A.C. Capital Advisors Ltd. Institution	$476.9K 16.0K shares
B Brevan Howard Capital Management LP Institution	$355.6K 11.9K shares
Centiva Capital, LP Hedge Fund•Multi-Strategy	$346.0K 11.6K shares

Options Activity

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

Call Positions: 8
Call Value: $22.1M
Put Positions: 11
Put Value: $119.6M

Call Positions

Institution	Position Value
P PEAK6 LLC Institution	$6.6M 2.2K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$6.2M 2.0K contracts
Walleye Trading LLC RIA/Wealth	$5.5M 1.8K contracts
J JANE STREET GROUP, LLC Institution	$1.4M 454.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$1.3M 426.0 contracts
W WOLVERINE TRADING, LLC Institution	$900.6K 295.0 contracts
C CSS LLC/IL Institution	$180.4K 59.0 contracts
J J. Goldman & Co LP Hedge Fund•Multi-Strategy	- - contracts

Put Positions

Institution	Position Value
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$48.0M 15.7K contracts
BANK OF AMERICA CORP /DE/ Institution	$32.1M 10.5K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$22.0M 7.2K contracts
J JANE STREET GROUP, LLC Institution	$11.4M 3.7K contracts
P Parallax Volatility Advisers, LLC Hedge Fund•Vol Arbitrage	$1.5M 500.0 contracts
UBS Group AG Institution	$1.4M 449.0 contracts
Walleye Trading LLC RIA/Wealth	$1.1M 375.0 contracts
W WOLVERINE TRADING, LLC Institution	$964.7K 316.0 contracts
P PEAK6 LLC Institution	$868.2K 284.0 contracts
C CSS LLC/IL Institution	$152.9K 50.0 contracts

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Lead Edge Capital Management, LLC Venture Capital	Mitchell Howard Green Founder	14.63% $55.4M	2.45% 1.8M shares	Q2 2024 Held for 1y 5m	$378.5M
Abdiel Capital Advisors, LP Hedge Fund•Long/Short	Geoffrey Michael Gentile Managing Partner	12.25% $40.5M	1.79% 1.3M shares	Q2 2017 Held for 8y 5m	$330.5M
H HARBER ASSET MANAGEMENT LLC Institution	-	4.02% $11.1M	0.49% 361.8K shares	Q4 2023 Held for 1y 11m	$275.3M
Wolf Hill Capital Management, LP Hedge Fund•Long/Short	Gary Steven Lehrman Founder	2.67% $30.4M	1.34% 995.2K shares	Q2 2025 Held for 5 months	$1.1B
R Roubaix Capital, LLC Hedge Fund•Long/Short	Christopher Edmund Hillary CEO	1.85% $4.1M	0.18% 133.5K shares	Q3 2025 Held for 2 months	$220.3M
K Keebeck Alpha, LP Hedge Fund	Thong Huy Nguyen CIO	0.38% $270.3K	0.01% 8.8K shares	Q2 2025 Held for 5 months	$71.9M
Hawk Ridge Management LLC Hedge Fund•Long/Short	David Graham Brown CIO	0.38% $8.0M	0.35% 262.3K shares	Q1 2025 Held for 8 months	$2.1B
Cinctive Capital Management LP Hedge Fund•Multi-Strategy	Lawrence Joseph Sapanski Founder	0.28% $5.7M	0.25% 185.9K shares	Q3 2025 Held for 2 months	$2.0B
PDT Partners, LLC Hedge Fund•Quant	Peter (Nmn) Muller CEO	0.25% $4.0M	0.18% 130.4K shares	Q4 2024 Held for 11 months	$1.6B
ALGERT COLDIRON INVESTORS LLC Hedge Fund•Quant	Ryan Zentner Lafond CIO	0.22% $13.1M	0.58% 429.5K shares	Q1 2023 Held for 2y 8m	$6.0B

Hedge Fund Spotlight

Discover hedge funds investing in APPN

GSA CAPITAL PARTNERS LLP

Hedge Fund • Quant

Portfolio ManagerDavid Khabie-Zeitoune

Portfolio Value: $1.1B
Positions: 1,504
Last Reported: Q3 2025

Sector Allocation

Position in Appian Corporation

Market Value: $547.9K
Shares Held: 17.9K
Portfolio Weight: 0.05%
Owned Since: 2024-Q1

Top Holding	Sector	Market Value	Weight
1 Accenture ACN	Information Technology Services Technology	$5.6M	0.50%
2 Sprouts Farmers Market SFM	Grocery Stores Consumer Defensive	$5.2M	0.46%
3 Microsoft MSFT	Software - Infrastructure Technology	$4.8M	0.43%