Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Expensify Inc (EXFY)

99 + Investors. Track Smart Money conviction in EXFY. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -4
Streak
2Q ▼
Buyers last Q
50%

Smart Money Signals — EXFY

Based on 99 hedge funds · latest filing: 2026 Q2 · updated quarterly

📉

Selling streak — 2 quarters in a row

last 6Q
For 2 consecutive quarters, more hedge funds reduced or closed their EXFY positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊

High ownership — 93% of 3.0Y peak

93% of all-time peak
99 funds currently hold this stock — 93% of the 3.0-year high of 107 funds (reached 2025 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
〰️

Stable — ownership unchanged year-over-year

fund count last 6Q
The number of hedge funds holding EXFY is almost the same as a year ago (+2 funds, +2% change). No significant rush to buy or sell — institutional backing is holding steady.
🟡

Slight buying edge — 50% buying

59 buying60 selling
Last quarter: 59 funds bought or added vs 60 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
➡️

Steady new buyers — ~27 new funds per quarter

new funds entering per quarter
Funds opening this position for the first time: 25 → 16 → 23 → 27. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒

42% of holders stayed for 2+ years

■ 42% conviction (2yr+) ■ 20% medium ■ 37% new
42 out of 99 hedge funds have held EXFY for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
💰

Price up while funds trimmed (+65% value, -17% shares)

Value
+64%
Shares
-16%
Last quarter: total value of institutional EXFY holdings rose +65% even though funds reduced share count by 17%. The stock price increased enough to offset the selling. Institutions are quietly trimming into price strength — watch for rotation.
📈

Growing discovery — still being found

28 → 25 → 16 → 23 → 27 new funds/Q
New funds entering each quarter: 25 → 16 → 23 → 27. A growing number of institutions are discovering EXFY each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️

Veteran-anchored — 47% veterans vs 41% newcomers

■ 47% veterans ■ 11% 1-2yr ■ 41% new
Entry-cohort mix of 99 holders: 47 (47%) are 2+ year veterans, 11 entered 1–2 years ago, and 41 (41%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅

Strong quality — 32% AUM from major funds

32% from top-100 AUM funds
31 of 99 holders rank in the top 100 by AUM, accounting for 32% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
3.6
out of 10
Low Exit Risk
Exit risk score 3.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — EXFY

In 2026 Q2, 59 hedge funds were net buyers of EXFY (27 opened a new position, 32 added to an existing one), while 60 reduced or exited (29 trimmed, 31 sold completely) — a 50% buyer ratio, indicating a slight buying edge. Net selling has persisted for two consecutive quarters. 32% of total institutional value in EXFY is held by top-100 AUM funds, reflecting strong institutional quality. Net fund flow last quarter: -4 funds (more exits than new entries). Total institutional holders: 99.

Hedge Fund Ownership: EXFY

How many hedge funds hold EXFY — quarterly history vs. share price
Quarterly hedge fund ownership of EXFY vs. share price

Market Analysis: EXFY

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: EXFY

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Loading signal freshness…
Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

7 top-rated funds 0 high-conviction
Consensus
3.9
/ 10
breadth
×
Elite
0.4
/ 10
conviction
Hedge Fund Positioning: EXFY
99 + Investors

Track Smart Money conviction in EXFY. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2026 Q2) Prior (2026 Q1) Change
Funds Holding 99 103 -3.88%
13F Shares 26M 31M -16.61%
Total Value $41M $25M 64.87%
New Positions 27 23 +4
Increased Positions 32 35 -3
Closed Positions 31 27 +4
Reduced Positions 29 31 -2
Total Calls 0 0 -
Total Puts 0 0 -
PUT/CALL Ratio 0.0 0.0 Bullish

Statistics: EXFY

View More

Valuation Measures Data as of: --

Market Cap --
Enterprise Value --
Trailing P/E --
Forward P/E --
PEG Ratio (5yr expected) --
Price/Sales (ttm) --
Price/Book (mrq) --
Enterprise Value/Revenue --
Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

Profitability
Profit Margin --
Return on Assets (ttm) --
Return on Equity (ttm) --
Income Statement & Cash Flow
Revenue (ttm) --
Net Income Avi to Common (ttm) --
Diluted EPS (ttm) --
Total Cash (mrq) --
Total Debt/Equity (mrq) --
Levered Free Cash Flow (ttm) --

Institutional Holders (2026 Q2)

99 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in EXFY. Verified SEC 13F-HR filings.

QUARTER:
Top 25 EXFY holders by conviction (% of portfolio weight) — 2026 Q2 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Palogic Value Management, L.P. 1.04% 1,768,456 $3.2M
2 Formula Growth Ltd 0.55% 875,000 $1.6M
3 Parallel Advisors, LLC 0.07% 2,664,037 $4.8M
4 Williams & Novak Wealth Management, LLC 0.06% 53,630 $96K
5 CastleKnight Management LP 0.04% 1,730,062 $3.1M
6 Prentiss Smith & Co Inc 0.04% 42,485 $76K
7 R Squared Ltd 0.02% 19,587 $35K
8 Pale Fire Capital SE 0.02% 134,409 $241K
9 Lavelle Capital LP 0.02% 20,000 $36K
10 RBF Capital, LLC 0.01% 120,000 $215K
11 Bridgeway Capital Management, LLC 0.00% 94,300 $169K
12 Wealthspire Advisors, LLC 0.00% 238,530 $427K
13 Essential Partners LLC 0.00% 2,723 $5K
14 Two Sigma Securities, LLC 0.00% 14,041 $25K
15 Ieq Capital, LLC 0.00% 254,220 $455K
16 Renaissance Technologies LLC 0.00% 746,700 $1.3M
17 XTX Topco Ltd 0.00% 64,764 $116K
18 Aqr Capital Management LLC 0.00% 2,085,857 $3.7M
19 Transamerica Financial Advisors, LLC 0.00% 7,680 $14K
20 StoneX Group Inc. 0.00% 25,542 $28K
21 Pallas Capital Advisors LLC 0.00% 19,879 $36K
22 Sand Hill Global Advisors, LLC 0.00% 20,314 $36K
23 Marshall Wace, LLP 0.00% 751,773 $1.3M
24 Brighton Jones LLC 0.00% 20,064 $36K
25 Two Sigma Investments, LP 0.00% 506,979 $907K
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — Expensify Inc (EXFY)

What does the Smart Money Trend signal show for EXFY?

Selling streak — 2 quarters in a row: For 2 consecutive quarters, more hedge funds reduced or closed their EXFY positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

What is the institutional breadth score for EXFY?

Slight buying edge — 50% buying: Last quarter: 59 funds bought or added vs 60 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.

What is the fund quality score for EXFY holders?

Strong quality — 32% AUM from major funds: 31 of 99 holders rank in the top 100 by AUM, accounting for 32% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.

How long have hedge funds held EXFY?

42% of holders stayed for 2+ years: 42 out of 99 hedge funds have held EXFY for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

Full history →