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Expensify
EXFY

75 hedge funds and large institutions have $295M invested in Expensify in 2022 Q4 according to their latest regulatory filings, with 19 funds opening new positions, 25 increasing their positions, 16 reducing their positions, and 26 closing their positions.

New
Increased
Maintained
Reduced
Closed

486% more call options, than puts

Call options by funds: $428K | Put options by funds: $73K

56% more repeat investments, than reductions

Existing positions increased: 25 | Existing positions reduced: 16

0.84% more ownership

Funds ownership: 48.15% → 48.99% (+0.84%)

10% less funds holding

Funds holding: 83 → 75 (-8)

27% less first-time investments, than exits

New positions opened: 19 | Existing positions closed: 26

33% less funds holding in top 10

Funds holding in top 10: 3 → 2 (-1)

40% less capital invested

Capital invested by funds: $489M → $295M (-$194M)

Holders
75
Holders Change
-8
Holders Change %
-9.64%
% of All Funds
1.21%
Holding in Top 10
2
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-33.33%
% of All Funds
0.03%
New
19
Increased
25
Reduced
16
Closed
26
Calls
$428K
Puts
$73K
Net Calls
+$355K
Net Calls Change
-$166K

Top Buyers

Rank Fund Capital Flow
1
SW
SVB Wealth
Massachusetts
+$37.6M
2
ICM
Invenomic Capital Management
Massachusetts
+$16.1M
3
Millennium Management
Millennium Management
New York
+$2.95M
4
D.E. Shaw & Co
D.E. Shaw & Co
New York
+$2.34M
5
MFA
Morling Financial Advisors
California
+$1.88M

Top Sellers

Rank Fund Capital Flow
1
Massachusetts Financial Services
Massachusetts Financial Services
Massachusetts
-$17.2M
2
DCP
Durable Capital Partners
Maryland
-$10.6M
3
RIM
Ranger Investment Management
Texas
-$9.72M
4
Janus Henderson Group
Janus Henderson Group
United Kingdom
-$7.88M
5
PC
Pier Capital
Connecticut
-$6.61M
Name Holding Trade Value Shares
Change 		Change in
Stake
WP
26
Woodline Partners
California
$1.13M -$112K -9,988 -7%
Tudor Investment Corp
27
Tudor Investment Corp
Connecticut
$1.04M +$1.32M +117,797 New
SLG
28
Stanley-Laman Group
Pennsylvania
$893K -$178K -15,868 -14%
Northern Trust
29
Northern Trust
Illinois
$803K +$112K +9,996 +12%
AQR Capital Management
30
AQR Capital Management
Connecticut
$770K +$977K +87,228 New
Morgan Stanley
31
Morgan Stanley
New York
$683K +$253K +22,601 +41%
CSS
32
Cubist Systematic Strategies
Connecticut
$678K +$658K +58,736 +326%
Bank of New York Mellon
33
Bank of New York Mellon
New York
$598K +$554K +49,465 +271%
TI
34
Trexquant Investment
Connecticut
$579K +$219K +19,579 +43%
SSA
35
Schonfeld Strategic Advisors
New York
$495K +$427K +38,152 +214%
Legal & General Group
36
Legal & General Group
United Kingdom
$481K +$571K +50,995 +1,452%
ASN
37
Advisory Services Network
Georgia
$480K +$609K +54,373 New
State of Wisconsin Investment Board
38
State of Wisconsin Investment Board
Wisconsin
$422K -$9.48K -847 -2%
GAG
39
GM Advisory Group
New York
$393K – – –
HF
40
HRT Financial
New York
$366K +$465K +41,545 New
JF
41
Jump Financial
Illinois
$301K -$174K -15,500 -31%
Bank of America
42
Bank of America
North Carolina
$300K +$185K +16,475 +94%
Swiss National Bank
43
Swiss National Bank
Switzerland
$283K – – –
Federated Hermes
44
Federated Hermes
Pennsylvania
$265K +$336K +30,000 New
PCM
45
Parsons Capital Management
Rhode Island
$242K – – –
SHGA
46
Sand Hill Global Advisors
California
$240K – – –
SFI
47
Susquehanna Fundamental Investments
Pennsylvania
$240K +$304K +27,162 New
LP
48
LMR Partners
United Kingdom
$199K +$252K +22,500 New
BAM
49
Bullseye Asset Management
Colorado
$183K – – –
JP Morgan Chase
50
JP Morgan Chase
New York
$172K +$218K +19,461 +31,903%
1
2
3 4

EXFY Hedge Fund Activity: Q4 2022 in Review

75 of the 6,221 institutional investors tracked by Wall St. Rank reported a position in Expensify (EXFY) for Q4 2022, worth a combined $295M — down 40% from $489M a quarter earlier.

Sellers outnumbered buyers: 26 funds closed out of EXFY and 19 opened new positions — a net loss of 7 holders — while 16 trimmed existing stakes and 25 added.

The largest buyer was SVB Wealth, opening a new position worth an estimated $37.6M. The largest seller was Massachusetts Financial Services, exiting entirely with an estimated $17.2M sold.

  • 75 institutional investors held Expensify (EXFY) as of Q4 2022, down from 83 in Q3 2022.
  • Funds reported $295M of Expensify stock for Q4 2022, down 40% quarter-over-quarter.
  • 19 funds opened new Expensify positions in Q4 2022 and 26 closed out, a net change of -7 holders.
  • The largest Expensify buyer in Q4 2022 was SVB Wealth, an estimated $37.6M added.
  • The largest Expensify seller in Q4 2022 was Massachusetts Financial Services, an estimated $17.2M sold.

Based on aggregated 13F filings for Q4 2022.