Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Expensify Inc (EXFY)

101 + 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
1Q ▼
Buyers last Q
50%

Smart Money Signals — EXFY

Based on 103 hedge funds · latest filing: 2026 Q1 · updated quarterly

📉

Selling streak — 1 quarter in a row

last 6Q
For 1 consecutive quarter, 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.
🏔️

At the ownership peak (96% of max)

96% of all-time peak
103 hedge funds hold EXFY right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
📶

Steady growth — +5% more funds vs a year ago

fund count last 6Q
+5 new funds entered over the past year (+5% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟡

Slight buying edge — 50% buying

58 buying58 selling
Last quarter: 58 funds bought or added vs 58 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.
📈

More new buyers each quarter (+7 vs last Q)

new funds entering per quarter
Funds opening a new EXFY position: 28 → 25 → 16 → 23. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒

43% of holders stayed for 2+ years

■ 43% conviction (2yr+) ■ 21% medium ■ 36% new
44 out of 103 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.
💎

Buying through price weakness — shares +3%, value -45%

Value
-44%
Shares
+2%
Last quarter: funds added +3% more shares while total portfolio value only changed -45%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📊

Peak discovery — momentum slowing

18 → 28 → 25 → 16 → 23 new funds/Q
New funds entering each quarter: 28 → 25 → 16 → 23. EXFY is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🏛️

Veteran-anchored — 53% veterans vs 37% newcomers

■ 53% veterans ■ 10% 1-2yr ■ 37% new
Entry-cohort mix of 103 holders: 55 (53%) are 2+ year veterans, 10 entered 1–2 years ago, and 38 (37%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅

Strong quality — 24% AUM from major funds

24% from top-100 AUM funds
33 of 103 holders rank in the top 100 by AUM, accounting for 24% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
3.8
out of 10
Low Exit Risk
Exit risk score 3.8/10 — 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 Q1, 58 hedge funds were net buyers of EXFY (23 opened a new position, 35 added to an existing one), while 58 reduced or exited (31 trimmed, 27 sold completely) — a 50% buyer ratio, indicating a slight buying edge. 24% 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: 103.

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.

Is It Too Late to Buy Expensify Inc (EXFY) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much EXFY has moved relative to its sector benchmark (XLK) since the 2026 Q1 13F filing. A stock that has barely outrun its sector is still a relatively fresh entry point — the fund's thesis has not yet been priced in by the broader market.

Since Quarter End March 31, 2026 · 81d ago
EXFY
+79.3%
XLK
+44.0%

EXFY outperformed XLK by +35.3% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 36d ago
EXFY
+36.8%
XLK
+8.6%

Since the filing became public, EXFY outperformed XLK by +28.2% .

Interpretation: The stock has significantly outperformed its sector benchmark — the original entry opportunity has largely been captured by earlier investors. Learn more →

Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

12 top-rated funds 0 high-conviction
Consensus
4.8
/ 10
breadth
×
Elite
0.3
/ 10
conviction
Hedge Fund Positioning: EXFY
101 + Investors

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

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 101 107 -5.61%
13F Shares 31M 30M 2.53%
Total Value $25M $45M -44.84%
New Positions 21 16 +5
Increased Positions 35 35 -
Closed Positions 27 14 +13
Reduced Positions 31 38 -7
Total Calls 0 1 -100.0%
Total Puts 0 0 -
PUT/CALL Ratio 0.0 0.0 Bullish

Statistics: EXFY

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Valuation Measures Data as of: --

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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

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Income Statement & Cash Flow
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Total Cash (mrq) --
Total Debt/Equity (mrq) --
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Institutional Holders (2026 Q1)

101 + 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 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Palogic Value Management, L.P. 0.93% 2,522,566 $2.2M
2 Formula Growth Ltd 0.35% 890,000 $774K
3 Williams & Novak, LLC 0.04% 64,250 $56K
4 Pale Fire Capital SE 0.04% 481,051 $418K
5 CastleKnight Management LP 0.03% 1,730,062 $1.5M
6 Prentiss Smith & Co Inc 0.02% 32,485 $28K
7 Verition Fund Management LLC 0.01% 2,350,000 $2.0M
8 Lavelle Capital LP 0.01% 20,000 $17K
9 Sassicaia Capital Advisers LLC 0.01% 10,800 $9K
10 NINE MASTS CAPITAL Ltd 0.00% 37,557 $33K
11 Ieq Capital, LLC 0.00% 548,021 $477K
12 Two Sigma Securities, LLC 0.00% 19,016 $17K
13 Bridgeway Capital Management, LLC 0.00% 94,300 $82K
14 Wealthspire Advisors, LLC 0.00% 238,530 $207K
15 Essential Partners LLC 0.00% 4,626 $4K
16 Connor, Clark & Lunn Investment Management Ltd. 0.00% 504,828 $439K
17 Renaissance Technologies LLC 0.00% 725,000 $631K
18 Marshall Wace, LLP 0.00% 914,309 $795K
19 Two Sigma Advisers, LP 0.00% 264,400 $399K
20 Transamerica Financial Advisors, LLC 0.00% 9,356 $8K
21 D. E. Shaw & Co., Inc. 0.00% 1,318,100 $1.1M
22 Coldstream Capital Management Inc 0.00% 62,209 $54K
23 Sand Hill Global Advisors, LLC 0.00% 20,314 $18K
24 Tower Research Capital LLC (TRC) 0.00% 19,419 $17K
25 Mackenzie Financial Corp 0.00% 380,185 $331K
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 — 1 quarter in a row: For 1 consecutive quarter, 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: 58 funds bought or added vs 58 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 — 24% AUM from major funds: 33 of 103 holders rank in the top 100 by AUM, accounting for 24% 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?

43% of holders stayed for 2+ years: 44 out of 103 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.

Is it too late to buy Expensify Inc (EXFY) following the 2026 Q1 hedge fund 13F filings?

As of today, EXFY has moved +36.8% since the 2026 Q1 13F filing date (May 15, 2026), compared to +8.6% for the XLK sector ETF — an outperformance of +28.2%. Since the quarter end (March 31, 2026), EXFY has gained +79.3% vs +44.0% for XLK. The stock has significantly outperformed its sector benchmark — the original entry opportunity has largely been captured by earlier investors.

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.

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