XPO INC XPO
COM · Common Stock · CUSIP 983793100 · ISIN US9837931008
American transportation company
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($13.8m this quarter). Holder counts are more reliable. Shares outstanding: 116.3m as of 2024-04-26, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $121.94. Options: 24 managers hold calls ($418.6m notional), 25 hold puts ($455.2m).
Trends to Q1 2024
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 427 |
| Q4 2022 | 413 |
| Q1 2023 | 386 |
| Q2 2023 | 417 |
| Q3 2023 | 426 |
| Q4 2023 | 468 |
| Q1 2024 | 525 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2022 | 195 | 190 |
| Q1 2023 | 162 | 219 |
| Q2 2023 | 184 | 207 |
| Q3 2023 | 163 | 205 |
| Q4 2023 | 194 | 199 |
| Q1 2024 | 241 | 227 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2023 | $178.7m | $208.9m | 1.17 |
| Q3 2023 | $257.9m | $217.6m | 0.84 |
| Q4 2023 | $271.0m | $255.1m | 0.94 |
| Q1 2024 | $418.6m | $455.2m | 1.09 |
Biggest buyers
| MORGAN STANLEY | Added | +1.2m |
| Capital Research Global Investors | Added | +912.5k |
| Invesco Ltd. | Added | +641.8k |
| FIL Ltd | Added | +626.8k |
| SCOPUS ASSET MANAGEMENT, L.P. | Added | +577.2k |
| Clearbridge Investments, LLC | Added | +560.1k |
| Qube Research & Technologies Ltd | Added | +540.9k |
| MILLENNIUM MANAGEMENT LLC | Added | +469.3k |
| NORGES BANK | Added | +441.0k |
| Cartenna Capital, LP | New | +360.0k |
Biggest sellers
| FMR LLC | Reduced | -3.3m |
| Orbis Allan Gray Ltd | Reduced | -1.4m |
| ALLIANCEBERNSTEIN L.P. | Reduced | -1.3m |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | Reduced | -539.4k |
| Balyasny Asset Management L.P. | Reduced | -382.8k |
| LORD, ABBETT & CO. LLC | Reduced | -350.3k |
| FRONTIER CAPITAL MANAGEMENT CO LLC | Reduced | -273.1k |
| Channing Capital Management, LLC | Reduced | -178.4k |
| Weiss Multi-Strategy Advisers LLC | Sold out | -151.3k |
| RENAISSANCE TECHNOLOGIES LLC | Sold out | -109.6k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $76.3m625.6k shares |
| CITADEL ADVISORS LLC | Reduced | $51.1m418.7k shares |
| NOMURA HOLDINGS INC | New | $40.0m327.5k shares |
| CITIGROUP INC | New | $39.0m320.0k shares |
| BARCLAYS PLC | Added | $37.7m309.2k shares |
| UBS Group AG | Reduced | $25.4m208.5k shares |
| SIMPLEX TRADING, LLC | Reduced | $23.1m189.4k shares |
| PEAK6 Investments LLC | Added | $21.1m173.2k shares |
| D. E. Shaw & Co., Inc. | Added | $19.9m163.1k shares |
| CAPITAL FUND MANAGEMENT S.A. | Added | $15.6m127.6k shares |
Biggest puts
| SCOPUS ASSET MANAGEMENT, L.P. | New | $76.3m625.0k shares |
| CITADEL ADVISORS LLC | Reduced | $67.2m550.9k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $53.5m438.4k shares |
| SIMPLEX TRADING, LLC | Added | $37.8m309.8k shares |
| Twin Tree Management, LP | New | $36.2m296.7k shares |
| BARCLAYS PLC | Added | $31.5m258.4k shares |
| NOMURA HOLDINGS INC | New | $25.9m212.5k shares |
| JANE STREET GROUP, LLC | Added | $20.8m170.1k shares |
| CAPITAL FUND MANAGEMENT S.A. | Added | $20.6m168.8k shares |
| UBS Group AG | Reduced | $14.9m122.5k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| BlackRock, Inc. 13G · institution +1.6 pts · filed 2026-06-04 | 10.4% |
| MFN Partners, LP 13G · passive investor filed 2026-08-12 | 8.4% |
| Capital Research Global Investors 13G · institution -1.2 pts · filed 2026-08-12 | 7.0% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-30 | 5.1% |
| Capital World Investors 13G · institution no change · filed 2026-08-12 | 5.0% |
Fell to 5% or below in the last year: Invesco Ltd. (4.1%, 2026-05-06), VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD CAPITAL MANAGEMENT LLC)
Insider purchases and sales in Q1 2024
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q2 2022 | 0 | — | 1 | $304.0m | — |
| Q3 2022 | 0 | — | 1 | $284.8m | — |
| Q4 2022 | 0 | — | 0 | — | — |
| Q1 2023 | 1 | $53.6k | 0 | — | — |
| Q2 2023 | 0 | — | 1 | $85.1k | — |
| Q3 2023 | 0 | — | 0 | — | — |
| Q4 2023 | 1 | $119.6k | 0 | — | — |
| Q1 2024 | 0 | — | 0 | — | — |
None reported in Q1 2024.
Holders, Q1 2024
| Manager | Shares | Change |
|---|---|---|
| MFN Partners Management, LP 43.90% of their portfolio | 12.7m $1.5bn | Unchanged |
| VANGUARD GROUP INC 0.03% of their portfolio | 10.9m $1.3bn | Reduced -67.5k |
| Capital Research Global Investors 0.28% of their portfolio | 10.2m $1.2bn | Added +912.5k |
| BlackRock Inc. 0.03% of their portfolio | 10.1m $1.2bn | Added +152.4k |
| Capital World Investors 0.09% of their portfolio | 4.5m $548.2m | Added +142.9k |
| FMR LLC 0.04% of their portfolio | 4.5m $547.1m | Reduced -3.3m |
| Orbis Allan Gray Ltd 3.14% of their portfolio | 4.3m $524.4m | Reduced -1.4m |
| MORGAN STANLEY 0.01% of their portfolio | 3.7m $455.1m | Added +1.2m |
| STATE STREET CORP 0.02% of their portfolio | 3.4m $418.6m | Added +64.3k |
| Cercano Management LLC 10.69% of their portfolio | 3.1m $383.1m | Reduced -79.7k |
| FIL Ltd 0.30% of their portfolio | 2.5m $304.6m | Added +626.8k |
| Clearbridge Investments, LLC 0.22% of their portfolio | 2.2m $272.7m | Added +560.1k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.07% of their portfolio | 2.0m $245.4m | Reduced -539.4k |
| GEODE CAPITAL MANAGEMENT, LLC 0.02% of their portfolio | 1.9m $231.6m | Added +111.3k |
| Invesco Ltd. 0.05% of their portfolio | 1.8m $223.4m | Added +641.8k |
| FRONTIER CAPITAL MANAGEMENT CO LLC 1.98% of their portfolio | 1.7m $211.4m | Reduced -273.1k |
| DIMENSIONAL FUND ADVISORS LP 0.05% of their portfolio | 1.4m $167.2m | Reduced -98.0k |
| NORGES BANK 0.03% of their portfolio | 1.3m $164.7m | Added +441.0k |
| AMERIPRISE FINANCIAL INC 0.04% of their portfolio | 1.3m $154.8m | Reduced -84.1k |
| MILLENNIUM MANAGEMENT LLC 0.13% of their portfolio | 1.2m $151.9m | Added +469.3k |
| Balyasny Asset Management L.P. 0.35% of their portfolio | 1.1m $138.2m | Reduced -382.8k |
| JPMORGAN CHASE & CO 0.01% of their portfolio | 1.0m $122.9m | Added +203.0k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.03% of their portfolio | 910.9k $111.2m | Reduced -61.3k |
| Bank of New York Mellon Corp 0.02% of their portfolio | 891.8k $108.8m | Reduced -61.4k |
| FEDERATED HERMES, INC. 0.24% of their portfolio | 867.1k $105.8m | Reduced -76.2k |
| ALLIANCEBERNSTEIN L.P. 0.04% of their portfolio | 815.8k $99.6m | Reduced -1.3m |
| SCOPUS ASSET MANAGEMENT, L.P. 3.21% of their portfolio | 802.7k $98.0m | Added +577.2k |
| Qube Research & Technologies Ltd 0.17% of their portfolio | 769.1k $93.8m | Added +540.9k |
| Hood River Capital Management LLC 2.09% of their portfolio | 768.0k $93.7m | Added +49.6k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.01% of their portfolio | 734.4k $89.6m | Reduced -22.6k |
| Channing Capital Management, LLC 2.40% of their portfolio | 732.2k $89.3m | Reduced -178.4k |
| NORTHERN TRUST CORP 0.02% of their portfolio | 719.3k $87.8m | Reduced -108.5k |
| CITADEL ADVISORS LLC 0.08% of their portfolio | 663.9k $81.0m | Added +19.7k |
| AMERICAN CENTURY COMPANIES INC 0.05% of their portfolio | 636.1k $77.6m | Added +8.3k |
| LORD, ABBETT & CO. LLC 0.12% of their portfolio | 591.8k $72.2m | Reduced -350.3k |
| PRIMECAP MANAGEMENT CO/CA/ 0.05% of their portfolio | 553.1k $67.5m | Reduced -32.0k |
| WELLS FARGO & COMPANY/MN 0.02% of their portfolio | 519.1k $63.3m | Reduced -6.9k |
| Douglas Lane & Associates, LLC 0.87% of their portfolio | 506.3k $61.8m | Reduced -40.8k |
| PRINCIPAL FINANCIAL GROUP INC 0.04% of their portfolio | 492.1k $60.0m | Added +25.4k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 479.8k $58.6m | Added +104.5k |
| CARDINAL CAPITAL MANAGEMENT LLC /CT 2.46% of their portfolio | 402.6k $49.1m | Reduced -73.6k |
| Hauser Brothers GmbH 34.44% of their portfolio | 384.1k $46.9m | Reduced -67.5k |
| Nuveen Asset Management, LLC 0.01% of their portfolio | 383.2k $46.8m | Reduced -1.1k |
| Cartenna Capital, LP 4.13% of their portfolio | 360.0k $43.9m | New |
| HENNESSY ADVISORS INC 1.65% of their portfolio | 321.3k $39.2m | Added +39.7k |
| FISHMAN JAY A LTD/MI 4.30% of their portfolio | 319.2k $39.0m | Reduced -3.6k |
| RHUMBLINE ADVISERS 0.04% of their portfolio | 316.7k $38.6m | Reduced -14.3k |
| Caisse de depot et placement du Quebec 0.09% of their portfolio | 302.2k $36.9m | Added +137.2k |
| Schonfeld Strategic Advisors LLC 0.28% of their portfolio | 290.8k $35.5m | Added +20.1k |
| RICE HALL JAMES & ASSOCIATES, LLC 2.02% of their portfolio | 290.4k $35.4m | Reduced -11.7k |
| Retirement Systems of Alabama 0.12% of their portfolio | 264.1k $32.2m | Reduced -17.0k |
| Driehaus Capital Management LLC 0.31% of their portfolio | 258.6k $31.6m | Added +174.3k |
| BARCLAYS PLC 0.01% of their portfolio | 257.5k $31.4m | Added +90.8k |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 251.5k $30.7m | Added +21.8k |
| Swiss National Bank 0.02% of their portfolio | 229.0k $27.9m | Added +400 |
| Forest Avenue Capital Management LP 6.64% of their portfolio | 221.6k $27.0m | Unchanged |
| NEW YORK STATE COMMON RETIREMENT FUND 0.03% of their portfolio | 214.4k $26.2m | Reduced -45.3k |
| Arnhold LLC 2.73% of their portfolio | 211.4k $25.8m | Reduced -48.8k |
| California Public Employees Retirement System 0.02% of their portfolio | 210.3k $25.7m | Reduced -2.9k |
| ROYAL BANK OF CANADA 0.01% of their portfolio | 206.6k $25.2m | Added +67.4k |
| GROUPAMA ASSET MANAGMENT 0.56% of their portfolio | 204.2k $30.7m | Reduced -4.5k |
| Interval Partners, LP 0.90% of their portfolio | 195.0k $23.8m | New |
| Legal & General Group Plc 0.01% of their portfolio | 187.5k $22.9m | Added +7.1k |
| Twin Tree Management, LP 0.52% of their portfolio | 186.6k $22.8m | Added +88.1k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.01% of their portfolio | 176.5k $21.5m | Reduced -13 |
| UBS Group AG 0.01% of their portfolio | 172.1k $21.0m | Added +54.6k |
| Holocene Advisors, LP 0.07% of their portfolio | 165.4k $20.2m | Added +133.3k |
| Waratah Capital Advisors Ltd. 1.02% of their portfolio | 163.1k $19.9m | Added +52.8k |
| Mesirow Institutional Investment Management, Inc. 1.68% of their portfolio | 154.9k $18.9m | Reduced -54.0k |
| AMERICAN INTERNATIONAL GROUP, INC. 0.07% of their portfolio | 153.7k $18.8m | Reduced -3.0k |
| Woodline Partners LP 0.17% of their portfolio | 148.2k $18.1m | New |
| WESTWOOD HOLDINGS GROUP INC 0.14% of their portfolio | 148.0k $18.1m | Reduced -26.8k |
| Russell Investments Group, Ltd. 0.03% of their portfolio | 142.8k $17.4m | Reduced -1.2k |
| RAYMOND JAMES & ASSOCIATES 0.01% of their portfolio | 140.8k $17.2m | Reduced -12.6k |
| TRITONPOINT WEALTH, LLC 1.25% of their portfolio | 136.3k $12.0m | Reduced -9.7k |
| Moran Wealth Management, LLC 0.53% of their portfolio | 135.0k $16.5m | New |
| NATIONAL BANK OF CANADA /FI/ 0.03% of their portfolio | 135.0k $15.4m | Reduced -2.6k |
| MACQUARIE GROUP LTD 0.02% of their portfolio | 128.3k $15.7m | Added +9.1k |
| ExodusPoint Capital Management, LP 0.19% of their portfolio | 127.5k $15.6m | New |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.03% of their portfolio | 120.1k $14.7m | Reduced -3.7k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.02% of their portfolio | 116.0k $14.2m | Reduced -6.4k |
| CREDIT SUISSE AG/ 0.01% of their portfolio | 114.5k $14.0m | Reduced -2.4k |
| Arvin Capital Management LP 6.29% of their portfolio | 111.7k $13.6m | Reduced -38.0k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.01% of their portfolio | 108.8k $3.5m | Reduced -972 |
| THORNBURG INVESTMENT MANAGEMENT INC 0.18% of their portfolio | 107.1k $13.1m | Reduced -4.3k |
| SEI INVESTMENTS CO 0.02% of their portfolio | 105.0k $12.8m | Reduced -32.8k |
| Walleye Capital LLC 0.14% of their portfolio | 103.7k $12.7m | Added +23.3k |
| TOCQUEVILLE ASSET MANAGEMENT L.P. 0.20% of their portfolio | 101.9k $12.4m | Added +1.1k |
| TEXAS PERMANENT SCHOOL FUND CORP 0.10% of their portfolio | 101.6k $12.4m | Added +1.5k |
| Walleye Trading LLC 0.20% of their portfolio | 101.1k $12.3m | Reduced -97.2k |
| Hill City Capital, LP 0.90% of their portfolio | 100.0k $12.2m | Unchanged |
| Redmond Asset Management, LLC 3.85% of their portfolio | 99.3k $12.1m | Reduced -5.5k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.03% of their portfolio | 97.7k $11.9m | Reduced -15.8k |
| HAWK RIDGE CAPITAL MANAGEMENT LP 0.54% of their portfolio | 97.4k $11.9m | Added +11.6k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.01% of their portfolio | 94.0k $11.5m | Reduced -1.3k |
| JANE STREET GROUP, LLC 0.01% of their portfolio | 90.6k $11.1m | Reduced -53.2k |
| KENNEDY CAPITAL MANAGEMENT LLC 0.22% of their portfolio | 88.7k $10.8m | Reduced -27.0k |
| Cinctive Capital Management LP 0.54% of their portfolio | 86.1k $10.5m | Reduced -14.0k |
| NEUBERGER BERMAN GROUP LLC 0.01% of their portfolio | 83.7k $10.2m | Added +14.5k |
| Lagoda Investment Management, L.P. 6.20% of their portfolio | 82.8k $10.1m | Reduced -8.4k |