Expensify, Inc.

EXFY • NASDAQ

Expensify, Inc. is a software - application company in the technology sector on NASDAQ, led by David Barrett, with a market cap of $149.8M. As of Q3 2025, 35% of shares are held by 105 institutional investors, with VANGUARD GROUP INC as the largest holder at 4.9%.

Chief Executive OfficerDavid Barrett

Market Cap$149.8M

Software - Application

Technology

Employees133.0

Websiteexpensify.com

Country

United States of America

Overview

Overview of institutional ownership in EXFY as of Q3 2025 with a market cap of $171.4M

All Institutions

Institutions: 105
Value Held: $59.2M
Shares Held: 32.0M
Avg Position: $563.6K
Median Position: $74.9K

Hedge Funds

Hedge Funds: 11
Value Held: $10.0M
Shares Held: 5.4M
Avg Position: $904.9K
Median Position: $473.4K

Ownership Breakdown

Institutional (non-HF)

28.72%

$49.2M

Hedge Funds

5.81%

$10.0M

Retail & Other

65.48%

$112.2M

Based on market cap of $171.4M as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in EXFY as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
VANGUARD GROUP INC Institution	Salim Ramji CEO	$8.4M 0.00% of portfolio	4.90% 4.5M shares	Q4 2021 Held for 3y 11m	$6.69T
B BlackRock, Inc. Institution	-	$7.7M 0.00% of portfolio	4.49% 4.2M shares	Q4 2021 Held for 3y 11m	$5.67T
ACADIAN ASSET MANAGEMENT LLC Long Only Manager	Gillian Morna Therese Savage CEO	$4.2M 0.01% of portfolio	2.45% 2.3M shares	Q1 2023 Held for 2y 8m	$51.5B
C CastleKnight Management LP Hedge Fund•Event Driven	Aaron Michael Weitman CIO	$4.0M 0.22% of portfolio	2.33% 2.2M shares	Q1 2023 Held for 2y 8m	$1.9B
AMERIPRISE FINANCIAL INC Institution	Jim Cracchiolo CEO	$3.4M 0.00% of portfolio	1.98% 1.8M shares	Q2 2023 Held for 2y 5m	$433.11B
D D. E. Shaw & Co., Inc. Institution	-	$2.8M 0.00% of portfolio	1.65% 1.5M shares	Q1 2022 Held for 3y 8m	$115.81B
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$2.6M 0.00% of portfolio	1.52% 1.4M shares	Q4 2021 Held for 3y 11m	$1.57T
Marshall Wace LLP Institution	Diana Lj Harrison President	$2.5M 0.00% of portfolio	1.47% 1.4M shares	Q2 2024 Held for 1y 5m	$90.3B
FORMULA GROWTH LTD Hedge Fund•Long/Short	Randall William Kelly President	$2.1M 0.74% of portfolio	1.24% 1.2M shares	Q1 2023 Held for 2y 8m	$288.3M
Connor, Clark & Lunn Investment Management Ltd. Long Only Manager	John Wyatt Ricketts President	$2.0M 0.01% of portfolio	1.17% 1.1M shares	Q1 2023 Held for 2y 8m	$31.7B

Net Capital Flow

Institutional buying and selling activity for EXFY in Q3 2025

Traded: −$4.8M
Buyers: 59
Sellers: 45
Total Bought: +$6.1M
Total Sold: −$11.0M
Avg Position: $485.0K

Biggest Buyers

Institution	Net Bought	Current Position
C CastleKnight Management LP Hedge Fund•Event Driven	+$1.6M +869.2K shares	$4.0M 2.2M shares
P Palogic Value Management, L.P. RIA/Wealth	+$798.4K +431.6K shares	$1.7M 933.0K shares
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$473.4K +255.9K shares	$473.4K 255.9K shares
ACADIAN ASSET MANAGEMENT LLC Long Only Manager	+$370.5K +200.3K shares	$4.2M 2.3M shares
VANGUARD GROUP INC Institution	+$365.7K +197.7K shares	$8.4M 4.5M shares
B BlackRock, Inc. Institution	+$282.4K +152.7K shares	$7.7M 4.2M shares
X XTX Topco Ltd Institution	+$223.4K +120.8K shares	$335.3K 181.2K shares
VICTORY CAPITAL MANAGEMENT INC Long Only Manager	+$215.3K +116.4K shares	$354.8K 191.8K shares
GOLDMAN SACHS GROUP INC Institution	+$213.8K +115.6K shares	$600.5K 324.6K shares
Q Qube Research & Technologies Ltd Institution	+$201.3K +108.8K shares	$644.8K 348.5K shares

Biggest Sellers

Institution	Net Sold	Current Position
Topline Capital Management, LLC Hedge Fund•Long/Short	−$2.0M −776.8K shares	Sold Off 0 shares
ARROWSTREET CAPITAL LIMITED PARTNERSHIP Hedge Fund•Quant	−$1.9M −730.9K shares	Sold Off 0 shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	−$862.7K −466.3K shares	$363.8K 196.7K shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	−$766.5K −414.4K shares	$1.3M 703.9K shares
D D. E. Shaw & Co., Inc. Institution	−$588.4K −318.1K shares	$2.8M 1.5M shares
R RBF Capital, LLC Institution	−$545.8K −210.7K shares	Sold Off 0 shares
MORGAN STANLEY RIA/Wealth	−$516.0K −278.9K shares	$1.2M 661.3K shares
GSA CAPITAL PARTNERS LLP Hedge Fund•Quant	−$380.2K −205.5K shares	$574.8K 310.7K shares
Integrated Quantitative Investments LLC Long Only Manager	−$365.7K −141.2K shares	Sold Off 0 shares
Marshall Wace LLP Institution	−$347.6K −187.9K shares	$2.5M 1.4M shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited EXFY in Q3 2025

New Positions: 13
New Value: $226.1K
Exited Positions: 17
Exited Value: $5.8M

New Positions

Institution	Position Value
Sugar Maple Asset Management, LLC RIA/Wealth	$94.4K 51.0K shares
W Williams & Novak, LLC Institution	$56.5K 30.5K shares
FRANKLIN RESOURCES INC Institution	$34.1K 18.4K shares
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC RIA/Wealth	$21.9K 12.9K shares
SRS Capital Advisors, Inc. RIA/Wealth	$14.8K 8.0K shares
C Covestor Ltd Institution	$2.9K 1.6K shares
IFP Advisors, Inc RIA/Wealth	$686.0 371.0 shares
Hartland & Co., LLC RIA/Wealth	$370.0 200.0 shares
Hanson McClain, Inc. RIA/Wealth	$171.0 92.0 shares
Golden State Wealth Management, LLC RIA/Wealth	$102.0 55.0 shares

Exited Positions

Institution	Previous Position
Topline Capital Management, LLC Hedge Fund•Long/Short	$2.0M 776.8K shares
ARROWSTREET CAPITAL LIMITED PARTNERSHIP Hedge Fund•Quant	$1.9M 730.9K shares
R RBF Capital, LLC Institution	$545.8K 210.7K shares
Integrated Quantitative Investments LLC Long Only Manager	$365.7K 141.2K shares
S State of Wyoming Institution	$240.1K 92.7K shares
S SIMPLEX TRADING, LLC Institution	$152.7K 59.0K shares
MetLife Investment Advisors, LLC Insurance Manager	$102.9K 39.7K shares
M Millington Financial Advisors, LLC RIA/Wealth	$93.2K 40.0K shares
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	$80.5K 31.1K shares
W Winton Capital Group Ltd Institution	$62.1K 24.0K shares

Options Activity

Institutions with the largest Call and Put options positions in EXFY as of Q3 2025

Call Positions: 5
Call Value: $117.1K
Put Positions: 1
Put Value: $21.5K

Call Positions

Institution	Position Value
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$89.7K 485.0 contracts
J JANE STREET GROUP, LLC Institution	$27.4K 148.0 contracts
B Belvedere Trading LLC Institution	- - contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	- - contracts
C CastleKnight Management LP Hedge Fund•Event Driven	- - contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$21.5K 116.0 contracts

Most Committed Institutions

Institutions with EXFY as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
P Palogic Value Management, L.P. RIA/Wealth	Scott Aubrey Williams Partner	0.74% $1.7M	1.01% 933.0K shares	Q3 2023 Held for 2y 2m	$233.1M
FORMULA GROWTH LTD Hedge Fund•Long/Short	Randall William Kelly President	0.74% $2.1M	1.24% 1.2M shares	Q1 2023 Held for 2y 8m	$288.3M
C CEERA INVESTMENTS, LLC RIA/Wealth	Rajesh Chelapurath President	0.26% $820.7K	0.48% 443.6K shares	Q4 2023 Held for 1y 11m	$315.3M
C CastleKnight Management LP Hedge Fund•Event Driven	Aaron Michael Weitman CIO	0.22% $4.0M	2.33% 2.2M shares	Q1 2023 Held for 2y 8m	$1.9B
Morling Financial Advisors, LLC RIA/Wealth	Matthew James Shibata Managing Partner	0.09% $275.7K	0.16% 149.0K shares	Q4 2022 Held for 2y 11m	$301.3M
Sugar Maple Asset Management, LLC RIA/Wealth	Jeremy Paul Schwab President	0.07% $94.4K	0.06% 51.0K shares	Q3 2025 Held for 2 months	$138.1M
GSA CAPITAL PARTNERS LLP Hedge Fund•Quant	David Khabie-Zeitoune CEO	0.05% $574.8K	0.34% 310.7K shares	Q3 2024 Held for 1y 2m	$1.1B
W Williams & Novak, LLC Institution	-	0.04% $56.5K	0.03% 30.5K shares	Q3 2025 Held for 2 months	$130.0M
D Dynamic Technology Lab Private Ltd Institution	-	0.04% $206.2K	0.12% 111.4K shares	Q2 2024 Held for 1y 5m	$576.8M
X XTX Topco Ltd Institution	-	0.02% $335.3K	0.20% 181.2K shares	Q1 2024 Held for 1y 8m	$1.9B

Hedge Fund Spotlight

Discover hedge funds investing in EXFY

AQR CAPITAL MANAGEMENT LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerDavid Gary Kabiller

Portfolio Value: $156.17B
Positions: 3,453
Last Reported: Q3 2025

Sector Allocation

Position in Expensify, Inc.

Market Value: $473.4K
Shares Held: 255.9K
Portfolio Weight: 0.00%
Owned Since: 2025-Q3

Top Holding	Sector	Market Value	Weight
1 Nvidia NVDA	Semiconductors Technology	$4.1B	2.62%
2 Microsoft MSFT	Software - Infrastructure Technology	$3.2B	2.05%
3 Apple AAPL	Consumer Electronics Technology	$2.8B	1.76%