Expensify, Inc.: which funds bought and sold

Institutions that bought and sold Expensify shares in Q2 2026, from the holdings they reported to the SEC on Form 13F for March 31, 2026 and June 30, 2026.

Between March 31, 2026 and June 30, 2026, 58 institutions that filed 13F reports for both quarters added to or opened positions in Expensify, and 58 cut or closed them. Together they sold a net 4.7M shares, −15.4% on what they held at the start of the quarter. Active managers and hedge funds on our list were net sellers of 1.4M shares (−13.2%); index fund managers were net sellers of 5.2M shares (−45.0%). 26 opened a new position and 28 sold out entirely.

Bought, Q2 2026 58 institutions, 26 of them new holders Sold, Q2 2026 58 institutions, 28 of them sold out

Net change, all compared −4.7M shares (−15.4%)

Net change, active managers −1.4M shares (−13.2%), 11 bought, 10 sold

Buyers versus sellers

institutions compared, 128

58 bought 12 58 sold

Active managers and hedge funds 11 bought · 10 sold · −1.4M

Index fund managers 3 bought · 7 sold · −5.2M

Other institutions 44 bought · 41 sold · +2.0M

Biggest buyers

by change in shares held

Biggest buyers
Institution	Change in shares	Shares June 30, 2026	Value
Parallel Advisors, LLC	+2.7M New position	2.7M	$4.8M
AQR Capital Management LLC Hedge fund	+1.3M +152.5%	2.1M	$3.7M
Jane Street Group, LLC	+1.0M New position	1.0M	$1.8M
Millennium Management LLC Hedge fund	+508K New position	508K	$909,304
Acadian Asset Management LLC Active manager	+246K +11.1%	2.5M	$4.4M
Arrowstreet Capital, Limited Partnership Hedge fund	+204K New position	204K	$365,720
UBS Group AG	+178K +222.7%	257K	$460,554
Citadel Advisors LLC Hedge fund	+174K New position	174K	$310,669
HRT Financial LP	+171K New position	171K	$305,000
Gsa Capital Partners LLP	+155K +532.0%	184K	$330,000
Two Sigma Investments, LP Hedge fund	+143K +39.2%	507K	$907,492
Rbf Capital, LLC	+120K New position	120K	$214,800
Aster Capital Management (Difc) Ltd	+118K New position	118K	$211,202
Mariner, LLC	+68K +204.3%	102K	$182,368
Xtx Topco Ltd	+65K New position	65K	$115,928
Morgan Stanley	+63K +23.0%	336K	$600,969
Vanguard Capital Management LLC Index funds	+53K +2.3%	2.4M	$4.2M
Cerity Partners LLC	+52K +158.1%	84K	$150,618
Bank Of America Corp	+39K +80.3%	88K	$157,105
Franklin Resources Inc Active manager	+39K +229.6%	56K	$99,549

Biggest buyers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
AQR Capital Management LLC Hedge fund	+1.3M +152.5%	2.1M	$3.7M
Millennium Management LLC Hedge fund	+508K New position	508K	$909,304
Acadian Asset Management LLC Active manager	+246K +11.1%	2.5M	$4.4M
Arrowstreet Capital, Limited Partnership Hedge fund	+204K New position	204K	$365,720
Citadel Advisors LLC Hedge fund	+174K New position	174K	$310,669
Two Sigma Investments, LP Hedge fund	+143K +39.2%	507K	$907,492
Franklin Resources Inc Active manager	+39K +229.6%	56K	$99,549
Point72 Asset Management, L.P. Hedge fund	+27K New position	27K	$47,748
Renaissance Technologies LLC Hedge fund	+22K +3.0%	747K	$1.3M
Schonfeld Strategic Advisors LLC Hedge fund	+14K New position	14K	$24,447

Biggest sellers

by change in shares held

Biggest sellers
Institution	Change in shares	Shares June 30, 2026	Value
Blackrock, Inc. Index funds	−2.9M −72.2%	1.1M	$2M
Verition Fund Management LLC Hedge fund	−2.4M Sold out	0	—
D. E. Shaw & Co., Inc. Hedge fund	−1.3M Sold out	0	—
Vanguard Portfolio Management LLC Index funds	−801K −40.6%	1.2M	$2.1M
Palogic Value Management, L.P.	−754K −29.9%	1.8M	$3.2M
Geode Capital Management, LLC Index funds	−707K −51.6%	663K	$1.2M
State Street Corp Index funds	−480K −66.3%	244K	$436,189
Connor, Clark & Lunn Investment Management Ltd.	−452K −89.6%	53K	$94,100
Mackenzie Financial Corp	−380K Sold out	0	—
Pale Fire Capital Se	−347K −72.1%	134K	$240,592
Ieq Capital, LLC	−294K −53.6%	254K	$455,054
Northern Trust Corp Index funds	−268K −64.0%	151K	$269,556
Marshall Wace, LLP Hedge fund	−163K −17.8%	752K	$1.3M
Goldman Sachs Group Inc	−137K −46.4%	158K	$282,691
Deutsche Bank Ag\	−129K Sold out	0	—
Qube Research & Technologies Ltd Hedge fund	−122K Sold out	0	—
Bank Of New York Mellon Corp	−121K −52.3%	110K	$197,747
Charles Schwab Investment Management Inc Index funds	−120K −31.4%	261K	$466,821
Nuveen, LLC	−78K Sold out	0	—
Coldstream Capital Management Inc	−62K Sold out	0	—

Biggest sellers, active managers and hedge funds
Institution	Change in shares	Shares June 30, 2026	Value
Verition Fund Management LLC Hedge fund	−2.4M Sold out	0	—
D. E. Shaw & Co., Inc. Hedge fund	−1.3M Sold out	0	—
Marshall Wace, LLP Hedge fund	−163K −17.8%	752K	$1.3M
Qube Research & Technologies Ltd Hedge fund	−122K Sold out	0	—
Jacobs Levy Equity Management, Inc Active manager	−48K Sold out	0	—
Price T Rowe Associates Inc Active manager	−30K Sold out	0	—
Graham Capital Management, L.P. Hedge fund	−16K Sold out	0	—
Intech Investment Management LLC Active manager	−16K Sold out	0	—
Balyasny Asset Management L.P. Hedge fund	−13K −25.2%	37K	$66,923
Alliancebernstein L.P. Active manager	−10K Sold out	0	—

New positions

largest by value

Institution	Shares	Value June 30, 2026
Parallel Advisors, LLC	2.7M	$4.8M
Jane Street Group, LLC	1.0M	$1.8M
Millennium Management LLCHedge fund	508K	$909,304
Arrowstreet Capital, Limited PartnershipHedge fund	204K	$365,720
Citadel Advisors LLCHedge fund	174K	$310,669
HRT Financial LP	171K	$305,000
Rbf Capital, LLC	120K	$214,800
Aster Capital Management (Difc) Ltd	118K	$211,202
Xtx Topco Ltd	65K	$115,928
Captrust Financial Advisors	34K	$60,017

Sold out

largest by value

Institution	Shares	Value March 31, 2026
Verition Fund Management LLCHedge fund	2.4M	$2M
D. E. Shaw & Co., Inc.Hedge fund	1.3M	$1.1M
Mackenzie Financial Corp	380K	$330,723
Deutsche Bank Ag\	129K	$112,564
Qube Research & Technologies LtdHedge fund	122K	$105,940
Nuveen, LLC	78K	$67,554
Coldstream Capital Management Inc	62K	$54,117
Jacobs Levy Equity Management, IncActive manager	48K	$41,595
Invesco Ltd.	44K	$37,920
New York State Common Retirement Fund	41K	$35,231

Who holds the shares

13F holdings at June 30, 2026

Institutions reporting: 101
Ten largest holders: 67.2%
Index fund managers: 24.9%
Active managers and hedge funds: 36.8%

Buying and selling by type of institution, March 31, 2026 to June 30, 2026
Type	Bought	Sold	New	Sold out	Net change in shares	Net %
Active managers and hedge funds	11	10	5	8	−1.4M	−13.2%
Index fund managers	3	7	0	0	−5.2M	−45.0%
Other institutions	44	41	21	20	+2.0M	+25.2%

Active managers and hedge funds: a list we maintain of about 400 well-known stock-picking firms and hedge funds, matched by SEC registration number (CIK) and checked against the filer names each quarter. Index fund managers: the large index houses, such as BlackRock, Vanguard, State Street, Geode and Northern Trust. Every other filer (banks, brokers, wealth managers, pension funds, insurers and firms not on the list) counts as another institution. A firm that files under several SEC registrations appears once for each.

What these filings can and cannot tell you

Form 13F lists the long positions in US-listed shares held by investment managers with more than $100 million in such holdings. Managers file it up to 45 days after each quarter ends, so this page shows what funds held at the end of each quarter, not what they are doing now: a position may have changed since. Short positions, most derivatives and smaller managers are not included, and a cut can mean a fund lost clients or rebalanced rather than a view on Expensify.

Only managers that filed a holdings report for both quarters are compared (128 here). 3 other holders are left out: first-time or late filers, firms that changed their SEC registration, and filings that withheld positions under confidential treatment, any of which would otherwise look like a new position or a sale. Figures are as reported by each manager in the SEC's quarterly 13F data sets; option positions are excluded.

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