AFFIRM HLDGS INC AFRM
COM CL A · Common Stock · CUSIP 00827B106 · ISIN US00827B1061
U.S. financial services company
- SectorFinancials
- IndustryPersonal Credit Institutions
- HeadquartersSan Francisco, CA
- Founded2012
- Websiteaffirm.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($34.7m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $69.15. Options: 42 managers hold calls ($1.2bn notional), 38 hold puts ($1.2bn).
Trends to Q2 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 354 |
| Q4 2022 | 354 |
| Q1 2023 | 310 |
| Q2 2023 | 315 |
| Q3 2023 | 314 |
| Q4 2023 | 409 |
| Q1 2024 | 385 |
| Q2 2024 | 380 |
| Q3 2024 | 428 |
| Q4 2024 | 504 |
| Q1 2025 | 493 |
| Q2 2025 | 564 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2023 | 147 | 139 |
| Q4 2023 | 207 | 158 |
| Q1 2024 | 185 | 198 |
| Q2 2024 | 183 | 173 |
| Q3 2024 | 216 | 177 |
| Q4 2024 | 254 | 203 |
| Q1 2025 | 275 | 244 |
| Q2 2025 | 343 | 204 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $918.1m | $737.8m | 0.80 |
| Q4 2024 | $1.2bn | $1.2bn | 0.99 |
| Q1 2025 | $686.5m | $582.5m | 0.85 |
| Q2 2025 | $1.2bn | $1.2bn | 1.03 |
Biggest buyers
| BlackRock, Inc. | Added | +2.4m |
| Atreides Management, LP | Added | +1.7m |
| Whale Rock Capital Management LLC | New | +1.3m |
| FMR LLC | Added | +1.2m |
| MORGAN STANLEY | Added | +971.1k |
| Capital World Investors | Added | +966.4k |
| VANGUARD GROUP INC | Added | +922.8k |
| ROYAL BANK OF CANADA | Added | +848.8k |
| Foxhaven Asset Management, LP | Added | +815.0k |
| Durable Capital Partners LP | Added | +808.5k |
Biggest sellers
| CITADEL ADVISORS LLC | Reduced | -2.5m |
| Qube Research & Technologies Ltd | Reduced | -1.6m |
| Holocene Advisors, LP | Reduced | -1.6m |
| BAILLIE GIFFORD & CO | Reduced | -1.5m |
| Jericho Capital Asset Management L.P. | Reduced | -1.4m |
| PRICE T ROWE ASSOCIATES INC /MD/ | Reduced | -1.3m |
| FRANKLIN RESOURCES INC | Reduced | -1.2m |
| LORD, ABBETT & CO. LLC | Reduced | -1.1m |
| UBS Group AG | Reduced | -1.0m |
| MARSHALL WACE, LLP | Reduced | -836.1k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $299.8m4.3m shares |
| CITADEL ADVISORS LLC | Reduced | $200.2m2.9m shares |
| JANE STREET GROUP, LLC | Added | $93.2m1.3m shares |
| PEAK6 LLC | Added | $91.1m1.3m shares |
| NOMURA HOLDINGS INC | Added | $75.8m1.1m shares |
| IMC-Chicago, LLC | Reduced | $65.0m940.8k shares |
| Walleye Trading LLC | Added | $48.8m706.4k shares |
| SIMPLEX TRADING, LLC | Reduced | $46.9m679.0k shares |
| GROUP ONE TRADING LLC | Reduced | $39.0m564.1k shares |
| Balyasny Asset Management L.P. | Added | $36.6m529.0k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $231.9m3.4m shares |
| CITADEL ADVISORS LLC | Added | $116.7m1.7m shares |
| BARCLAYS PLC | Added | $94.2m1.4m shares |
| D. E. Shaw & Co., Inc. | Reduced | $72.8m1.1m shares |
| PEAK6 LLC | Added | $70.6m1.0m shares |
| Squarepoint Ops LLC | Added | $63.9m924.6k shares |
| JANE STREET GROUP, LLC | Added | $59.3m858.3k shares |
| Walleye Trading LLC | Added | $58.6m848.0k shares |
| Parallax Volatility Advisers, L.P. | Reduced | $54.7m791.5k shares |
| IMC-Chicago, LLC | Added | $54.4m786.1k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| Capital World Investors 13G · institution filed 2026-08-12 | 7.9% |
| MORGAN STANLEY 13G · institution -1.0 pts · filed 2026-05-11 | 7.1% |
| FMR LLC 13G · institution new · filed 2026-05-06 | 6.1% |
| JPMORGAN CHASE & CO 13G · institution no change · filed 2026-07-16 | 5.7% |
| BlackRock, Inc. 13G · institution new · filed 2026-01-21 | 5.1% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-26)
Insider purchases and sales in Q2 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q3 2023 | 0 | — | 0 | — | — |
| Q4 2023 | 0 | — | 1 | $6.6m | $6.6m |
| Q1 2024 | 0 | — | 1 | $318.9k | $318.9k |
| Q2 2024 | 0 | — | 1 | $892.7k | $892.7k |
| Q3 2024 | 0 | — | 4 | $7.3m | $6.7m |
| Q4 2024 | 0 | — | 7 | $95.1m | $95.1m |
| Q1 2025 | 0 | — | 4 | $4.1m | $4.1m |
| Q2 2025 | 0 | — | 2 | $1.7m | $1.7m |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2025-06-16 | Watson Noel Bertram Director | Sold plan | $152.1k2.5k shares |
| 2025-05-01 | Rabois Keith Director | Sold plan | $820.6k16.1k shares |
| 2025-04-01 | Rabois Keith Director | Sold plan | $730.5k16.1k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q2 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.03% of their portfolio | 24.2m $1.7bn | Added +922.8k |
| Capital Research Global Investors 0.33% of their portfolio | 23.7m $1.6bn | Added +576.0k |
| MORGAN STANLEY 0.10% of their portfolio | 22.2m $1.5bn | Added +971.1k |
| Capital World Investors 0.21% of their portfolio | 21.2m $1.5bn | Added +966.4k |
| BlackRock, Inc. 0.02% of their portfolio | 15.6m $1.1bn | Added +2.4m |
| FMR LLC 0.04% of their portfolio | 9.6m $665.8m | Added +1.2m |
| BAILLIE GIFFORD & CO 0.39% of their portfolio | 7.5m $520.8m | Reduced -1.5m |
| Durable Capital Partners LP 3.87% of their portfolio | 7.4m $510.9m | Added +808.5k |
| GEODE CAPITAL MANAGEMENT, LLC 0.02% of their portfolio | 4.7m $322.2m | Added +254.4k |
| STATE STREET CORP 0.01% of their portfolio | 4.5m $308.0m | Added +161.5k |
| Jericho Capital Asset Management L.P. 3.37% of their portfolio | 3.7m $253.2m | Reduced -1.4m |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.03% of their portfolio | 3.3m $225.5m | Reduced -1.3m |
| Foxhaven Asset Management, LP 4.83% of their portfolio | 2.9m $200.3m | Added +815.0k |
| NORGES BANK 0.02% of their portfolio | 2.7m $183.5m | Added +273.2k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.03% of their portfolio | 2.4m $163.1m | Added +79.8k |
| WELLINGTON MANAGEMENT GROUP LLP 0.03% of their portfolio | 2.1m $147.2m | Added +474.7k |
| Atreides Management, LP 3.79% of their portfolio | 2.0m $136.8m | Added +1.7m |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 1.9m $133.5m | Added +666.0k |
| GOLDMAN SACHS GROUP INC 0.02% of their portfolio | 1.9m $128.3m | Added +173.0k |
| Spyglass Capital Management LLC 7.10% of their portfolio | 1.7m $120.3m | Reduced -162.1k |
| NORTHERN TRUST CORP 0.01% of their portfolio | 1.5m $102.4m | Added +53.2k |
| MARSHALL WACE, LLP 0.12% of their portfolio | 1.5m $101.8m | Reduced -836.1k |
| 1832 Asset Management L.P. 0.17% of their portfolio | 1.4m $98.4m | Added +266.5k |
| UBS Group AG 0.02% of their portfolio | 1.4m $97.0m | Reduced -1.0m |
| DIMENSIONAL FUND ADVISORS LP 0.02% of their portfolio | 1.4m $95.2m | Added +146.2k |
| MILLENNIUM MANAGEMENT LLC 0.08% of their portfolio | 1.3m $92.7m | Added +392.2k |
| GILDER GAGNON HOWE & CO LLC 0.98% of their portfolio | 1.3m $92.3m | Added +86.8k |
| Whale Rock Capital Management LLC 1.22% of their portfolio | 1.3m $88.2m | New |
| Qube Research & Technologies Ltd 0.12% of their portfolio | 1.3m $87.8m | Reduced -1.6m |
| Invesco Ltd. 0.01% of their portfolio | 1.1m $76.0m | Added +390.0k |
| ROYAL BANK OF CANADA 0.01% of their portfolio | 1.0m $72.1m | Added +848.8k |
| D. E. Shaw & Co., Inc. 0.07% of their portfolio | 1.0m $71.9m | Reduced -368.2k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.01% of their portfolio | 1.0m $69.7m | Added +286.7k |
| Leo Wealth, LLC 5.37% of their portfolio | 998.1k $69.0m | Added +45.8k |
| Abdiel Capital Advisors, LP 6.20% of their portfolio | 959.6k $66.3m | Reduced -153.8k |
| Holocene Advisors, LP 0.15% of their portfolio | 903.1k $62.4m | Reduced -1.6m |
| Bank of New York Mellon Corp 0.01% of their portfolio | 890.7k $61.6m | Added +18.5k |
| D1 Capital Partners L.P. 0.79% of their portfolio | 820.0k $56.7m | Unchanged |
| Alyeska Investment Group, L.P. 0.20% of their portfolio | 800.5k $55.3m | New |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 771.7k $53.4m | Reduced -358.2k |
| Nuveen, LLC 0.01% of their portfolio | 737.3k $51.0m | Added +138.4k |
| ALLEN OPERATIONS LLC 6.86% of their portfolio | 721.4k $49.9m | Unchanged |
| WESTFIELD CAPITAL MANAGEMENT CO LP 0.20% of their portfolio | 698.8k $48.3m | New |
| Artemis Investment Management LLP 0.62% of their portfolio | 696.5k $48.2m | New |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.07% of their portfolio | 679.4k $47.0m | Reduced -320.6k |
| VESTOR CAPITAL, LLC 4.53% of their portfolio | 643.1k $60.5m | New |
| Allspring Global Investments Holdings, LLC 0.07% of their portfolio | 642.6k $43.1m | Reduced -349.1k |
| CAPITAL FUND MANAGEMENT S.A. 0.48% of their portfolio | 634.7k $43.9m | Added +211.9k |
| JANE STREET GROUP, LLC 0.07% of their portfolio | 600.3k $41.5m | Added +523.9k |
| ThornTree Capital Partners LP 6.80% of their portfolio | 591.1k $40.9m | Reduced -71.8k |
| Amundi 0.01% of their portfolio | 579.6k $39.6m | Added +186.6k |
| RJA Asset Management LLC 13.18% of their portfolio | 553.8k $38.3m | Unchanged |
| OGBORNE CAPITAL MANAGEMENT, LLC 9.43% of their portfolio | 550.0k $38.0m | Added +452.5k |
| Amanah Holdings Trust 8.87% of their portfolio | 519.2k $35.9m | First filing |
| Driehaus Capital Management LLC 0.29% of their portfolio | 516.2k $35.7m | Added +123.8k |
| Squarepoint Ops LLC 0.08% of their portfolio | 506.1k $35.0m | Reduced -75.4k |
| Ardmore Road Asset Management LP 2.86% of their portfolio | 500.0k $34.6m | Reduced -100.0k |
| BNP PARIBAS FINANCIAL MARKETS 0.03% of their portfolio | 498.0k $34.4m | Added +240.2k |
| Rokos Capital Management LLP 0.57% of their portfolio | 493.8k $34.1m | New |
| Capital International Investors 0.01% of their portfolio | 487.3k $33.7m | Reduced -808.8k |
| Swiss National Bank 0.02% of their portfolio | 480.3k $33.2m | Added +12.3k |
| Polar Capital Holdings Plc 0.17% of their portfolio | 476.2k $32.9m | Added +418.4k |
| Aquatic Capital Management LLC 0.61% of their portfolio | 435.3k $30.1m | Added +154.6k |
| California Public Employees Retirement System 0.02% of their portfolio | 433.6k $30.0m | Added +34.1k |
| BIT Capital GmbH 1.92% of their portfolio | 426.3k $29.5m | Reduced -150.3k |
| Glendon Capital Management LP 1.58% of their portfolio | 417.1k $28.8m | Unchanged |
| Verition Fund Management LLC 0.16% of their portfolio | 402.3k $27.8m | Added +176.9k |
| Balyasny Asset Management L.P. 0.06% of their portfolio | 392.2k $27.1m | Added +336.8k |
| SG Americas Securities, LLC 0.12% of their portfolio | 391.5k $27.1m | Added +384.0k |
| NZS Capital, LLC 0.89% of their portfolio | 378.3k $26.2m | Added +100.7k |
| Pacific Heights Asset Management LLC 1.38% of their portfolio | 375.0k $25.9m | Added +55.0k |
| BANK OF MONTREAL /CAN/ 0.01% of their portfolio | 362.7k $25.1m | Reduced -62.0k |
| Shannon River Fund Management LLC 3.80% of their portfolio | 356.6k $24.7m | New |
| Man Group plc 0.05% of their portfolio | 352.1k $24.3m | Added +253.7k |
| 12 West Capital Management LP 2.56% of their portfolio | 350.0k $24.2m | Added +25.0k |
| Penserra Capital Management LLC 0.33% of their portfolio | 339.5k $23.5m | Added +62.9k |
| NEUBERGER BERMAN GROUP LLC 0.02% of their portfolio | 336.7k $23.3m | Added +310.7k |
| WELLS FARGO & COMPANY/MN 0.01% of their portfolio | 334.3k $23.1m | Added +163.6k |
| AQR CAPITAL MANAGEMENT LLC 0.02% of their portfolio | 330.6k $22.9m | Added +279.2k |
| BARCLAYS PLC 0.01% of their portfolio | 308.0k $21.3m | Reduced -414.9k |
| BLAIR WILLIAM & CO/IL 0.06% of their portfolio | 305.0k $21.1m | New |
| MANE GLOBAL CAPITAL MANAGEMENT LP 0.91% of their portfolio | 290.3k $20.1m | New |
| Legal & General Group Plc 0.00% of their portfolio | 289.9k $20.0m | Added +20.9k |
| RHUMBLINE ADVISERS 0.02% of their portfolio | 282.7k $19.5m | Added +27.1k |
| CITIGROUP INC 0.01% of their portfolio | 276.5k $19.1m | Added +191.0k |
| ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio | 269.0k $18.6m | Reduced -314.9k |
| PICTON MAHONEY ASSET MANAGEMENT 0.26% of their portfolio | 263.7k $18.2m | New |
| Diversify Advisory Services, LLC 0.75% of their portfolio | 255.7k $19.7m | Added +32.6k |
| ALLEN HOLDING INC /NY 1.74% of their portfolio | 255.3k $17.6m | Reduced -250 |
| DEUTSCHE BANK AG\ 0.01% of their portfolio | 254.0k $17.6m | Reduced -144.6k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.06% of their portfolio | 252.1k $17.4m | Reduced -310.7k |
| GROUPAMA ASSET MANAGMENT 0.00% of their portfolio | 250.0k $262.3k | Unchanged |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.02% of their portfolio | 238.2k $16.5m | Added +10.5k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.03% of their portfolio | 236.5k $16.3m | Added +2.5k |
| NORDEA INVESTMENT MANAGEMENT AB 0.01% of their portfolio | 229.8k $15.9m | Added +126.2k |
| Hidden Lake Asset Management LP 7.44% of their portfolio | 219.0k $15.1m | Added +185.9k |
| LANDSCAPE CAPITAL MANAGEMENT, L.L.C. 1.19% of their portfolio | 218.8k $15.1m | Added +103.8k |
| COMERICA BANK 0.06% of their portfolio | 211.3k $14.6m | Added +205.8k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.04% of their portfolio | 208.9k $14.4m | Added +74.2k |
| BERKSHIRE CAPITAL HOLDINGS INC 4.92% of their portfolio | 203.6k $14.1m | Added +64.1k |