Insiders Fund’s Investment Thesis for AppFolio (APPF)

Fund Performance - Alpha Wealth Insiders Fund achieved a return of 4.96% in September 2025, resulting in year-to-date returns of 21.37% [1] - The fund's performance outperformed the S&P 500, which had a September return of 3.65% and a year-to-date return of 14.83% through September 30, 2025 [1] Company Highlight: AppFolio, Inc. - AppFolio, Inc. (NASDAQ:APPF) is a leading provider of cloud-based business management solutions for the real estate sector, holding nearly 20% market share [3] - The stock of AppFolio, Inc. had a one-month return of 0.95% but experienced a decline of 8.24% over the last 52 weeks [2] - As of January 2, 2026, AppFolio, Inc. shares closed at $230.37, with a market capitalization of $8.275 billion [2] Hedge Fund Interest - At the end of Q3 2025, 40 hedge fund portfolios held AppFolio, Inc., an increase from 36 in the previous quarter [4] - Despite the interest, the analysis suggests that certain AI stocks may offer greater upside potential and lower downside risk compared to AppFolio, Inc. [4]