[Form 4] Expensify, Inc. Insider Trading Activity
On 08/01/2025, Settian Capital LP, its managed vehicle PAVP Family Office Fund, LP, and Managing Partner Karl K. Segerberg filed a Schedule 13D disclosing beneficial ownership of 470,515 shares of Westwood Holdings Group (WHG), representing 5.0 % of the 9,379,680 shares outstanding. PAVP individually holds 211,732 shares (2.3 %). Settian Capital and Segerberg have sole voting and dispositive power over the full 5 % block.
The group acquired the position for $7.43 million using fund working capital. They describe WHG shares as an 鈥渁ttractive investment opportunity鈥� and may increase, reduce or otherwise adjust their stake. The filing outlines a broad activist agenda: potential M&A or divestitures, board or management changes, capital raises, dividend policy review, AI-driven cost-cutting, and other strategic alternatives aimed at boosting shareholder value. No additional contracts or arrangements are reported beyond a joint filing agreement.
Il 08/01/2025, Settian Capital LP, il suo veicolo gestito PAVP Family Office Fund, LP, e il Managing Partner Karl K. Segerberg hanno presentato un Schedule 13D rivelando la propriet脿 effettiva di 470.515 azioni di Westwood Holdings Group (WHG), pari al 5,0 % delle 9.379.680 azioni in circolazione. PAVP detiene individualmente 211.732 azioni (2,3 %). Settian Capital e Segerberg hanno il pieno potere di voto e di disposizione sull'intero blocco del 5 %.
Il gruppo ha acquisito la posizione per 7,43 milioni di dollari utilizzando il capitale operativo del fondo. Descrivono le azioni WHG come un 鈥渋nteressante opportunit脿 di investimento鈥� e potrebbero aumentare, ridurre o altrimenti modificare la loro partecipazione. Il deposito evidenzia un ampio programma attivista: potenziali fusioni e acquisizioni o cessioni, cambiamenti nel consiglio di amministrazione o nella direzione, raccolte di capitale, revisione della politica dei dividendi, riduzione dei costi guidata dall鈥橧A e altre alternative strategiche volte ad aumentare il valore per gli azionisti. Non sono segnalati ulteriori contratti o accordi oltre a un accordo congiunto di deposito.
El 08/01/2025, Settian Capital LP, su veh铆culo gestionado PAVP Family Office Fund, LP, y el Socio Director Karl K. Segerberg presentaron un Schedule 13D revelando la propiedad beneficiaria de 470,515 acciones de Westwood Holdings Group (WHG), que representan el 5,0 % de las 9,379,680 acciones en circulaci贸n. PAVP posee individualmente 211,732 acciones (2,3 %). Settian Capital y Segerberg tienen el poder exclusivo de voto y disposici贸n sobre todo el bloque del 5 %.
El grupo adquiri贸 la posici贸n por 7,43 millones de d贸lares utilizando el capital de trabajo del fondo. Describen las acciones de WHG como una 鈥渙portunidad de inversi贸n atractiva鈥� y podr铆an aumentar, reducir o ajustar de otro modo su participaci贸n. La presentaci贸n detalla una amplia agenda activista: posibles fusiones y adquisiciones o desinversiones, cambios en la junta o en la direcci贸n, aumentos de capital, revisi贸n de la pol铆tica de dividendos, reducci贸n de costos impulsada por IA y otras alternativas estrat茅gicas destinadas a aumentar el valor para los accionistas. No se informan contratos o acuerdos adicionales m谩s all谩 de un acuerdo conjunto de presentaci贸n.
2025雲� 1鞗� 8鞚�, Settian Capital LP鞕� 攴� 甏�毽� 彀焿鞚� PAVP Family Office Fund, LP, 攴鸽Μ瓿� 毵る媹歆� 韺岉姼雱� Karl K. Segerberg電� Westwood Holdings Group(WHG)鞚� 470,515欤�鞚� 鞁れ 靻岇湢毳� 瓿店皽頃橂姅 Schedule 13D毳� 鞝滌稖頄堨姷雼堧嫟. 鞚措姅 齑� 9,379,680欤� 欷� 5.0%鞐� 頃措嫻頃╇媹雼�. PAVP電� 臧滊硠鞝侅溂搿� 211,732欤�(2.3%)毳� 氤挫湢頃橁碃 鞛堨姷雼堧嫟. Settian Capital瓿� Segerberg電� 鞝勳泊 5% 歆�攵勳棎 雽�頃� 雼弲 鞚橁舶甓岅臣 觳橂秳甓岇潉 臧�歆�瓿� 鞛堨姷雼堧嫟.
鞚� 攴鸽９鞚� 韼�霌� 鞖挫毄 鞛愲掣鞚� 靷毄頃� 743毵� 雼煬鞐� 頃措嫻 歆�攵勳潉 旆摑頄堨姷雼堧嫟. WHG 欤检嫕鞚� 鈥滊Г霠レ爜鞚� 韴瀽 旮绊殞鈥濍 韽夑皜頃橂┌, 歆�攵勳潉 歃濌皜, 於曥唽 霕愲姅 臁办爼頃� 靾� 鞛堨姷雼堧嫟. 鞝滌稖靹滊鞐愲姅 甏戨矓鞙勴暅 頄夒彊欤检潣 瓿勴殟鞚� 韽暔霅橃柎 鞛堨姷雼堧嫟: 鞛犾灛鞝� 鞚胳垬頃╇硲 霕愲姅 鞛愳偘 毵り皝, 鞚挫偓須� 霕愲姅 瓴届榿歆� 甑愳泊, 鞛愲掣 臁半嫭, 氚半嫻 鞝曥眳 瓴�韱�, 鞚戈车歆�電� 旮半皹 牍勳毄 鞝堦皭, 攴鸽Μ瓿� 欤检＜ 臧�旃橂ゼ 雴掛澊旮� 鞙勴暅 旮绊儉 鞝勲灥鞝� 雽�鞎堧摛鞚� 韽暔霅╇媹雼�. 瓿惦彊 鞝滌稖 瓿勳暯 鞕胳棎 於旉皜 瓿勳暯鞚措倶 頃╈潣電� 氤搓碃霅橃 鞎婌晿鞀惦媹雼�.
Le 08/01/2025, Settian Capital LP, son v茅hicule g茅r茅 PAVP Family Office Fund, LP, et le Managing Partner Karl K. Segerberg ont d茅pos茅 un Schedule 13D r茅v茅lant une participation b茅n茅ficiaire de 470 515 actions de Westwood Holdings Group (WHG), repr茅sentant 5,0 % des 9 379 680 actions en circulation. PAVP d茅tient individuellement 211 732 actions (2,3 %). Settian Capital et Segerberg exercent le pouvoir exclusif de vote et de disposition sur la totalit茅 du bloc de 5 %.
Le groupe a acquis cette position pour 7,43 millions de dollars en utilisant le capital de fonctionnement du fonds. Ils d茅crivent les actions WHG comme une 芦 opportunit茅 d鈥檌nvestissement attrayante 禄 et peuvent augmenter, r茅duire ou ajuster autrement leur participation. Le d茅p么t d茅crit un large programme activiste : fusions-acquisitions potentielles ou cessions, changements au conseil d鈥檃dministration ou 脿 la direction, lev茅es de capitaux, r茅vision de la politique de dividendes, r茅duction des co没ts pilot茅e par l鈥橧A, et autres alternatives strat茅giques visant 脿 accro卯tre la valeur pour les actionnaires. Aucun contrat ou accord suppl茅mentaire n鈥檈st signal茅 au-del脿 d鈥檜n accord conjoint de d茅p么t.
Am 08.01.2025 reichten Settian Capital LP, dessen verwaltetes Vehikel PAVP Family Office Fund, LP, und gesch盲ftsf眉hrender Partner Karl K. Segerberg ein Schedule 13D ein, in dem sie den wirtschaftlichen Eigentum von 470.515 Aktien von Westwood Holdings Group (WHG) offenlegten, was 5,0 % der 9.379.680 ausstehenden Aktien entspricht. PAVP h盲lt einzeln 211.732 Aktien (2,3 %). Settian Capital und Segerberg verf眉gen 眉ber das alleinige Stimm- und Verf眉gungsrecht f眉r den gesamten 5 %-Block.
Die Gruppe erwarb die Position f眉r 7,43 Millionen US-Dollar unter Verwendung des Betriebskapitals des Fonds. Sie bezeichnen die WHG-Aktien als eine 鈥瀉ttraktive Investitionsm枚glichkeit鈥� und k枚nnten ihre Beteiligung erh枚hen, reduzieren oder anderweitig anpassen. Die Einreichung skizziert eine umfassende aktivistische Agenda: potenzielle Fusionen und 脺bernahmen oder Ver盲u脽erungen, 脛nderungen im Vorstand oder Management, Kapitalerh枚hungen, 脺berpr眉fung der Dividendenpolitik, KI-gesteuerte Kostensenkungen und weitere strategische Alternativen zur Steigerung des Aktion盲rswerts. Es werden keine weiteren Vertr盲ge oder Vereinbarungen au脽er einer gemeinsamen Einreichungsvereinbarung gemeldet.
- Settian Capital and affiliates disclosed a 5.0 % stake, crossing the activist reporting threshold.
- $7.43 million invested signals financial commitment and belief in undervaluation.
- Detailed list of potential strategic actions indicates proactive engagement to enhance shareholder value.
- None.
Insights
TL;DR: 5 % stake gives Settian leverage to push strategic changes, indicating an emerging activist posture.
Crossing the 5 % threshold requires a 13D, signaling the group鈥檚 willingness to influence corporate policy. The filing explicitly lists potential actions鈥擬&A, board refresh, dividend review, AI cost efficiencies鈥攎irroring classic activist playbooks. While no concrete proposals are lodged yet, sole voting power over the entire stake and a detailed menu of options suggest engagement is likely. For a micro-cap like WHG, even a 5 % block can be influential, especially if other holders align. Investors should watch for follow-up letters or proxy activity that could unlock value through strategic alternatives.
TL;DR: New 5 % holder may catalyze near-term re-rating but adds activism-related uncertainty.
The $7.4 M purchase implies an average cost near recent market levels, limiting downside protection but showing conviction. A credible activist can accelerate operational reviews and capital allocation discipline, potentially improving WHG鈥檚 ROE and valuation multiples. Conversely, management distraction or resistance could weigh on execution. The position is large versus WHG鈥檚 float, so any escalation鈥攖ender offer or proxy contest鈥攃ould move the stock materially. Risk-reward skews positive, yet investors should monitor for signaling events such as additional share accumulation or 14A filings.
Il 08/01/2025, Settian Capital LP, il suo veicolo gestito PAVP Family Office Fund, LP, e il Managing Partner Karl K. Segerberg hanno presentato un Schedule 13D rivelando la propriet脿 effettiva di 470.515 azioni di Westwood Holdings Group (WHG), pari al 5,0 % delle 9.379.680 azioni in circolazione. PAVP detiene individualmente 211.732 azioni (2,3 %). Settian Capital e Segerberg hanno il pieno potere di voto e di disposizione sull'intero blocco del 5 %.
Il gruppo ha acquisito la posizione per 7,43 milioni di dollari utilizzando il capitale operativo del fondo. Descrivono le azioni WHG come un 鈥渋nteressante opportunit脿 di investimento鈥� e potrebbero aumentare, ridurre o altrimenti modificare la loro partecipazione. Il deposito evidenzia un ampio programma attivista: potenziali fusioni e acquisizioni o cessioni, cambiamenti nel consiglio di amministrazione o nella direzione, raccolte di capitale, revisione della politica dei dividendi, riduzione dei costi guidata dall鈥橧A e altre alternative strategiche volte ad aumentare il valore per gli azionisti. Non sono segnalati ulteriori contratti o accordi oltre a un accordo congiunto di deposito.
El 08/01/2025, Settian Capital LP, su veh铆culo gestionado PAVP Family Office Fund, LP, y el Socio Director Karl K. Segerberg presentaron un Schedule 13D revelando la propiedad beneficiaria de 470,515 acciones de Westwood Holdings Group (WHG), que representan el 5,0 % de las 9,379,680 acciones en circulaci贸n. PAVP posee individualmente 211,732 acciones (2,3 %). Settian Capital y Segerberg tienen el poder exclusivo de voto y disposici贸n sobre todo el bloque del 5 %.
El grupo adquiri贸 la posici贸n por 7,43 millones de d贸lares utilizando el capital de trabajo del fondo. Describen las acciones de WHG como una 鈥渙portunidad de inversi贸n atractiva鈥� y podr铆an aumentar, reducir o ajustar de otro modo su participaci贸n. La presentaci贸n detalla una amplia agenda activista: posibles fusiones y adquisiciones o desinversiones, cambios en la junta o en la direcci贸n, aumentos de capital, revisi贸n de la pol铆tica de dividendos, reducci贸n de costos impulsada por IA y otras alternativas estrat茅gicas destinadas a aumentar el valor para los accionistas. No se informan contratos o acuerdos adicionales m谩s all谩 de un acuerdo conjunto de presentaci贸n.
2025雲� 1鞗� 8鞚�, Settian Capital LP鞕� 攴� 甏�毽� 彀焿鞚� PAVP Family Office Fund, LP, 攴鸽Μ瓿� 毵る媹歆� 韺岉姼雱� Karl K. Segerberg電� Westwood Holdings Group(WHG)鞚� 470,515欤�鞚� 鞁れ 靻岇湢毳� 瓿店皽頃橂姅 Schedule 13D毳� 鞝滌稖頄堨姷雼堧嫟. 鞚措姅 齑� 9,379,680欤� 欷� 5.0%鞐� 頃措嫻頃╇媹雼�. PAVP電� 臧滊硠鞝侅溂搿� 211,732欤�(2.3%)毳� 氤挫湢頃橁碃 鞛堨姷雼堧嫟. Settian Capital瓿� Segerberg電� 鞝勳泊 5% 歆�攵勳棎 雽�頃� 雼弲 鞚橁舶甓岅臣 觳橂秳甓岇潉 臧�歆�瓿� 鞛堨姷雼堧嫟.
鞚� 攴鸽９鞚� 韼�霌� 鞖挫毄 鞛愲掣鞚� 靷毄頃� 743毵� 雼煬鞐� 頃措嫻 歆�攵勳潉 旆摑頄堨姷雼堧嫟. WHG 欤检嫕鞚� 鈥滊Г霠レ爜鞚� 韴瀽 旮绊殞鈥濍 韽夑皜頃橂┌, 歆�攵勳潉 歃濌皜, 於曥唽 霕愲姅 臁办爼頃� 靾� 鞛堨姷雼堧嫟. 鞝滌稖靹滊鞐愲姅 甏戨矓鞙勴暅 頄夒彊欤检潣 瓿勴殟鞚� 韽暔霅橃柎 鞛堨姷雼堧嫟: 鞛犾灛鞝� 鞚胳垬頃╇硲 霕愲姅 鞛愳偘 毵り皝, 鞚挫偓須� 霕愲姅 瓴届榿歆� 甑愳泊, 鞛愲掣 臁半嫭, 氚半嫻 鞝曥眳 瓴�韱�, 鞚戈车歆�電� 旮半皹 牍勳毄 鞝堦皭, 攴鸽Μ瓿� 欤检＜ 臧�旃橂ゼ 雴掛澊旮� 鞙勴暅 旮绊儉 鞝勲灥鞝� 雽�鞎堧摛鞚� 韽暔霅╇媹雼�. 瓿惦彊 鞝滌稖 瓿勳暯 鞕胳棎 於旉皜 瓿勳暯鞚措倶 頃╈潣電� 氤搓碃霅橃 鞎婌晿鞀惦媹雼�.
Le 08/01/2025, Settian Capital LP, son v茅hicule g茅r茅 PAVP Family Office Fund, LP, et le Managing Partner Karl K. Segerberg ont d茅pos茅 un Schedule 13D r茅v茅lant une participation b茅n茅ficiaire de 470 515 actions de Westwood Holdings Group (WHG), repr茅sentant 5,0 % des 9 379 680 actions en circulation. PAVP d茅tient individuellement 211 732 actions (2,3 %). Settian Capital et Segerberg exercent le pouvoir exclusif de vote et de disposition sur la totalit茅 du bloc de 5 %.
Le groupe a acquis cette position pour 7,43 millions de dollars en utilisant le capital de fonctionnement du fonds. Ils d茅crivent les actions WHG comme une 芦 opportunit茅 d鈥檌nvestissement attrayante 禄 et peuvent augmenter, r茅duire ou ajuster autrement leur participation. Le d茅p么t d茅crit un large programme activiste : fusions-acquisitions potentielles ou cessions, changements au conseil d鈥檃dministration ou 脿 la direction, lev茅es de capitaux, r茅vision de la politique de dividendes, r茅duction des co没ts pilot茅e par l鈥橧A, et autres alternatives strat茅giques visant 脿 accro卯tre la valeur pour les actionnaires. Aucun contrat ou accord suppl茅mentaire n鈥檈st signal茅 au-del脿 d鈥檜n accord conjoint de d茅p么t.
Am 08.01.2025 reichten Settian Capital LP, dessen verwaltetes Vehikel PAVP Family Office Fund, LP, und gesch盲ftsf眉hrender Partner Karl K. Segerberg ein Schedule 13D ein, in dem sie den wirtschaftlichen Eigentum von 470.515 Aktien von Westwood Holdings Group (WHG) offenlegten, was 5,0 % der 9.379.680 ausstehenden Aktien entspricht. PAVP h盲lt einzeln 211.732 Aktien (2,3 %). Settian Capital und Segerberg verf眉gen 眉ber das alleinige Stimm- und Verf眉gungsrecht f眉r den gesamten 5 %-Block.
Die Gruppe erwarb die Position f眉r 7,43 Millionen US-Dollar unter Verwendung des Betriebskapitals des Fonds. Sie bezeichnen die WHG-Aktien als eine 鈥瀉ttraktive Investitionsm枚glichkeit鈥� und k枚nnten ihre Beteiligung erh枚hen, reduzieren oder anderweitig anpassen. Die Einreichung skizziert eine umfassende aktivistische Agenda: potenzielle Fusionen und 脺bernahmen oder Ver盲u脽erungen, 脛nderungen im Vorstand oder Management, Kapitalerh枚hungen, 脺berpr眉fung der Dividendenpolitik, KI-gesteuerte Kostensenkungen und weitere strategische Alternativen zur Steigerung des Aktion盲rswerts. Es werden keine weiteren Vertr盲ge oder Vereinbarungen au脽er einer gemeinsamen Einreichungsvereinbarung gemeldet.
FAQ
How many Westwood Holdings Group (WHG) shares does Settian Capital control?
What was the total purchase price for the WHG shares?
What percentage of WHG does PAVP Family Office Fund, LP own?
What strategic changes might Settian Capital propose to WHG?
Can Settian Capital increase or reduce its WHG position?
Who is Karl K. Segerberg in relation to Settian Capital?
