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Expensify
EXFY

105 hedge funds and large institutions have $59.1M invested in Expensify in 2025 Q3 according to their latest regulatory filings, with 25 funds opening new positions, 31 increasing their positions, 31 reducing their positions, and 17 closing their positions.

New
Increased
Maintained
Reduced
Closed

606% more call options, than puts

Call options by funds: $219K | Put options by funds: $31K

47% more first-time investments, than exits

New positions opened: 25 | Existing positions closed: 17

8% more funds holding

Funds holding: 97 → 105 (+8)

0% more repeat investments, than reductions

Existing positions increased: 31 | Existing positions reduced: 31

2.69% less ownership

Funds ownership: 42.38% → 39.69% (-2.7%)

33% less capital invested

Capital invested by funds: $88.2M → $59.1M (-$29.1M)

Holders
105
Holders Change
+8
Holders Change %
+8.25%
% of All Funds
1.38%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
25
Increased
31
Reduced
31
Closed
17
Calls
$219K
Puts
$31K
Net Calls
+$188K
Net Calls Change
-$512K

Top Buyers

Rank Fund Capital Flow
1
CM
CastleKnight Management
New York
+$1.76M
2
PVM
Palogic Value Management
Texas
+$874K
3
AQR Capital Management
AQR Capital Management
Connecticut
+$518K
4
Acadian Asset Management
Acadian Asset Management
Massachusetts
+$406K
5
Vanguard Group
Vanguard Group
Pennsylvania
+$400K

Top Sellers

Rank Fund Capital Flow
1
TCM
Topline Capital Management
California
-$2.01M
2
Arrowstreet Capital
Arrowstreet Capital
Massachusetts
-$1.89M
3
Citadel Advisors
Citadel Advisors
Florida
-$944K
4
Renaissance Technologies
Renaissance Technologies
New York
-$839K
5
D.E. Shaw & Co
D.E. Shaw & Co
New York
-$644K
Name Holding Trade Value Shares
Change 		Change in
Stake
Two Sigma Advisers
26
Two Sigma Advisers
New York
$452K -$190K -93,700 -28%
Citadel Advisors
27
Citadel Advisors
Florida
$364K -$944K -466,338 -70%
Victory Capital Management
28
Victory Capital Management
Texas
$355K +$236K +116,385 +154%
XT
29
XTX Topco
Cayman Islands
$335K +$245K +120,775 +200%
Bank of New York Mellon
30
Bank of New York Mellon
New York
$315K +$1.02K +504 +0.3%
Federated Hermes
31
Federated Hermes
Pennsylvania
$298K -$3.72K -1,838 -1%
MFA
32
Morling Financial Advisors
California
$276K – – –
BCM
33
Bridgeway Capital Management
Texas
$267K -$101K -50,000 -26%
BNP Paribas Financial Markets
34
BNP Paribas Financial Markets
France
$265K -$42.9K -21,188 -13%
Barclays
35
Barclays
United Kingdom
$232K -$41.3K -20,406 -14%
American Century Companies
36
American Century Companies
Missouri
$225K – – –
DTL
37
Dynamic Technology Lab
Singapore
$206K +$104K +51,145 +85%
Bank of America
38
Bank of America
North Carolina
$196K -$12.5K -6,179 -6%
Deutsche Bank
39
Deutsche Bank
Germany
$186K +$204K +100,647 New
JP Morgan Chase
40
JP Morgan Chase
New York
$186K -$352K -173,606 -63%
Susquehanna International Group
41
Susquehanna International Group
Pennsylvania
$156K -$373K -183,979 -69%
N
42
Nuveen
North Carolina
$144K – – –
UBS Group
43
UBS Group
Switzerland
$123K +$10.5K +5,177 +8%
WANY
44
Wealthspire Advisors (New York)
New York
$122K – – –
HSBC Holdings
45
HSBC Holdings
United Kingdom
$119K +$5.44K +2,684 +4%
Verition Fund Management
46
Verition Fund Management
Connecticut
$103K +$407 +201 +0.4%
RhumbLine Advisers
47
RhumbLine Advisers
Massachusetts
$103K -$614 -303 -0.5%
Vontobel Holding
48
Vontobel Holding
Switzerland
$102K +$4.92K +2,429 +5%
SMAM
49
Sugar Maple Asset Management
Wisconsin
$94.3K +$103K +51,000 New
CCM
50
Coldstream Capital Management
Washington
$93.1K +$102K +50,347 New
1
2
3 4 5

EXFY Hedge Fund Activity: Q3 2025 in Review

105 of the 7,621 institutional investors tracked by Wall St. Rank reported a position in Expensify (EXFY) for Q3 2025, worth a combined $59.1M — down 33% from $88.2M a quarter earlier.

Buyers outnumbered sellers: 25 funds opened new EXFY positions and 17 closed out — a net gain of 8 holders — while 31 added to existing stakes and 31 trimmed.

The largest buyer was CastleKnight Management, adding an estimated $1.76M. The largest seller was Topline Capital Management, exiting entirely with an estimated $2.01M sold.

  • 105 institutional investors held Expensify (EXFY) as of Q3 2025, up from 97 in Q2 2025.
  • Funds reported $59.1M of Expensify stock for Q3 2025, down 33% quarter-over-quarter.
  • 25 funds opened new Expensify positions in Q3 2025 and 17 closed out, a net change of +8 holders.
  • The largest Expensify buyer in Q3 2025 was CastleKnight Management, an estimated $1.76M added.
  • The largest Expensify seller in Q3 2025 was Topline Capital Management, an estimated $2.01M sold.

Based on aggregated 13F filings for Q3 2025.