EXPENSIFY INC (EXFY): Hedge Fund Ownership & Smart Money Signals (Q4 2025)

EXPENSIFY INC (EXFY)

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

Smart Money Signals — EXFY

Based on 105 hedge funds · latest filing: 2025 Q4 · updated quarterly

📈

Buying streak — 2 quarters in a row

last 6Q

For 2 consecutive quarters, more hedge funds added EXFY than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.

🏔️

At the ownership peak (100% of max)

100% of all-time peak

105 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 — +19% more funds vs a year ago

fund count last 6Q

+17 new funds entered over the past year (+19% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.

🟠

More sellers than buyers — 49% buying

50 buying52 selling

Last quarter: 52 funds reduced or exited vs 50 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.

⚠️

Fewer new buyers each quarter (-10 vs last Q)

new funds entering per quarter

Funds opening this position for the first time: 18 → 28 → 25 → 15. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.

🔒

43% of holders stayed for 2+ years

■ 43% conviction (2yr+) ■ 32% medium ■ 25% new

45 out of 105 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 -7%, value -24%

Value

-24%

-7%

Last quarter: funds added -7% more shares while total portfolio value only changed -24%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.

➡️

Steady discovery — ~15 new funds/quarter

25 → 18 → 28 → 25 → 15 new funds/Q

New funds entering each quarter: 18 → 28 → 25 → 15. Consistent flow of new institutional buyers without clear acceleration or slowdown.

🏛️

Deep conviction — 60% of holders stayed 2+ years

■ 60% veterans ■ 11% 1-2yr ■ 28% new

Of 106 current holders: 64 (60%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.

✅

Strong quality — 39% AUM from major funds

39% from top-100 AUM funds

27 of 105 holders rank in the top 100 by AUM, accounting for 39% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.

3.9

out of 10

Low Exit Risk

Exit risk score 3.9/10 — 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.

Metric	All 13F Filers (2025 Q4)	Prior (2025 Q3)	Change
Funds Holding	106	107	-0.93%
13F Shares	30M	32M	-7.05%
Total Value	$45M	$59M	-24.17%
New Positions	15	26	-11
Increased Positions	36	32	+4
Closed Positions	14	17	-3
Reduced Positions	41	34	+7
Total Calls	1	2	-50.0%
Total Puts	0	1	-100.0%
PUT/CALL Ratio	0.0	0.5	Bullish

Metric

All 13F Filers (2025 Q4)

Prior (2025 Q3)

Change

Funds Holding

106

107

-0.93%

13F Shares

30M

32M

-7.05%

Total Value

$45M

$59M

-24.17%

New Positions

-11

Increased Positions

Closed Positions

-3

Reduced Positions

Total Calls

-50.0%

Total Puts

-100.0%

PUT/CALL Ratio

0.0

0.5

Bullish

Institutional Holders (2026 Q1)

106 + investors

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

FILTER:All New Added To Reduced No Change | Overweight >5% | SHOW: Active managers + show index funds

Top 12 institutional holders of EXFY — 2025 Q4 · Source: SEC Form 13F
#	Investor	% of Portfolio	Shares	Mkt Value
1	Williams & Novak, LLC	0.04%	64,250	$56K
2	Wealthspire Advisors, LLC	0.00%	238,530	$207K
3	Police & Firemen's Retirement System of New Jersey	0.00%	12,436	$11K
4	Merit Financial Group, LLC	0.00%	12,180	$11K
5	State of Alaska, Department of Revenue	0.00%	8,632	—
6	HSBC HOLDINGS PLC	0.00%	84,329	$75K
7	WEALTH ENHANCEMENT ADVISORY SERVICES, LLC	0.00%	17,328	$16K
8	Sterling Capital Management LLC	0.00%	1,126	—
9	SBI Securities Co., Ltd.	0.00%	761	—
10	True Wealth Design, LLC	0.00%	34	—
11	IFP Advisors, Inc	0.00%	282	—
12	SJS Investment Consulting Inc.	0.00%	22	—

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?

Buying streak — 2 quarters in a row: For 2 consecutive quarters, more hedge funds added EXFY than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.

What is the institutional breadth score for EXFY?

More sellers than buyers — 49% buying: Last quarter: 52 funds reduced or exited vs 50 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.

What is the fund quality score for EXFY holders?

Strong quality — 39% AUM from major funds: 27 of 105 holders rank in the top 100 by AUM, accounting for 39% 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: 45 out of 105 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.

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EXPENSIFY INC (EXFY)

Smart Money Signals — EXFY

Buying streak — 2 quarters in a row

At the ownership peak (100% of max)

Steady growth — +19% more funds vs a year ago

More sellers than buyers — 49% buying

Fewer new buyers each quarter (-10 vs last Q)

43% of holders stayed for 2+ years

Buying through price weakness — shares -7%, value -24%

Steady discovery — ~15 new funds/quarter

Deep conviction — 60% of holders stayed 2+ years

Strong quality — 39% AUM from major funds

Hedge Fund Ownership: EXFY

Market Analysis: EXFY

Analyst Price Targets

Analyst Recommendations

Stock Performance

Company Profile: EXFY

Hedge Fund Positioning: EXFY

Statistics: EXFY

Valuation Measures Data as of: --

Financial Highlights

Institutional Holders (2026 Q1)

Frequently Asked Questions — EXPENSIFY INC (EXFY)

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