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 ($3.5m this quarter). Holder counts are more reliable. Shares outstanding: 116.4m as of 2024-10-25, 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 ≈ $107.45. Options: 22 managers hold calls ($150.6m notional), 25 hold puts ($171.1m).
Trends to Q3 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 |
| Q2 2024 | 508 |
| Q3 2024 | 530 |
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 |
| Q2 2024 | 235 | 242 |
| Q3 2024 | 234 | 225 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q4 2023 | $271.0m | $255.1m | 0.94 |
| Q1 2024 | $418.6m | $455.2m | 1.09 |
| Q2 2024 | $254.9m | $236.9m | 0.93 |
| Q3 2024 | $150.6m | $171.1m | 1.14 |
Biggest buyers
| D1 Capital Partners L.P. | Added | +2.2m |
| Capital World Investors | Added | +1.6m |
| Anomaly Capital Management, LP | New | +720.6k |
| MORGAN STANLEY | Added | +616.9k |
| BANK OF AMERICA CORP /DE/ | Added | +548.5k |
| Capital Research Global Investors | Added | +541.7k |
| Interval Partners, LP | Added | +535.1k |
| Cannell & Spears LLC | New | +472.7k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | Added | +390.3k |
| Clearbridge Investments, LLC | Added | +264.2k |
Biggest sellers
| Qube Research & Technologies Ltd | Reduced | -1.2m |
| CITADEL ADVISORS LLC | Reduced | -1.1m |
| Balyasny Asset Management L.P. | Reduced | -926.5k |
| MILLENNIUM MANAGEMENT LLC | Reduced | -709.9k |
| NORGES BANK | Reduced | -573.5k |
| FMR LLC | Reduced | -345.7k |
| Orbis Allan Gray Ltd | Reduced | -321.3k |
| Caisse de depot et placement du Quebec | Reduced | -257.5k |
| D. E. Shaw & Co., Inc. | Reduced | -236.6k |
| DIMENSIONAL FUND ADVISORS LP | Reduced | -222.7k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $31.0m288.3k shares |
| CITADEL ADVISORS LLC | Reduced | $22.9m213.3k shares |
| Twin Tree Management, LP | Unchanged | $13.0m120.7k shares |
| Walleye Trading LLC | Reduced | $11.1m103.7k shares |
| CAPITAL FUND MANAGEMENT S.A. | Reduced | $10.8m100.0k shares |
| JANE STREET GROUP, LLC | Added | $10.4m97.0k shares |
| IMC-Chicago, LLC | Reduced | $9.1m84.7k shares |
| SIMPLEX TRADING, LLC | Reduced | $7.8m73.0k shares |
| Cubist Systematic Strategies, LLC | Added | $6.5m60.8k shares |
| BANK OF MONTREAL /CAN/ | New | $5.6m50.0k shares |
Biggest puts
| CITADEL ADVISORS LLC | Reduced | $37.6m349.6k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $20.8m193.4k shares |
| SIMPLEX TRADING, LLC | Reduced | $16.2m150.3k shares |
| IMC-Chicago, LLC | Added | $13.3m123.9k shares |
| JANE STREET GROUP, LLC | Added | $13.2m122.8k shares |
| CAPITAL FUND MANAGEMENT S.A. | Reduced | $11.3m104.7k shares |
| D. E. Shaw & Co., Inc. | Added | $11.1m103.2k shares |
| Schonfeld Strategic Advisors LLC | New | $10.8m100.0k shares |
| Walleye Trading LLC | Reduced | $6.3m58.9k shares |
| WOLVERINE TRADING, LLC | Added | $6.2m55.4k 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 Q3 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 |
|---|---|---|---|---|---|
| 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 | — | — |
| Q2 2024 | 0 | — | 1 | $196.0k | — |
| Q3 2024 | 0 | — | 0 | — | — |
None reported in Q3 2024.
Holders, Q3 2024
| Manager | Shares | Change |
|---|---|---|
| Capital Research Global Investors 0.26% of their portfolio | 11.5m $1.2bn | Added +541.7k |
| MFN Partners Management, LP 24.22% of their portfolio | 11.4m $1.2bn | Unchanged |
| VANGUARD GROUP INC 0.02% of their portfolio | 11.0m $1.2bn | Reduced -20.0k |
| BlackRock, Inc. 0.02% of their portfolio | 10.9m $1.2bn | First filing |
| Capital World Investors 0.10% of their portfolio | 6.1m $661.1m | Added +1.6m |
| D1 Capital Partners L.P. 9.78% of their portfolio | 4.7m $506.5m | Added +2.2m |
| Orbis Allan Gray Ltd 2.19% of their portfolio | 3.8m $413.0m | Reduced -321.3k |
| STATE STREET CORP 0.02% of their portfolio | 3.5m $373.9m | Added +37.5k |
| Cercano Management LLC 8.08% of their portfolio | 3.1m $337.8m | Unchanged |
| Clearbridge Investments, LLC 0.23% of their portfolio | 2.8m $295.9m | Added +264.2k |
| FMR LLC 0.02% of their portfolio | 2.5m $270.4m | Reduced -345.7k |
| GEODE CAPITAL MANAGEMENT, LLC 0.02% of their portfolio | 2.0m $213.1m | Reduced -6.3k |
| FIL Ltd 0.16% of their portfolio | 1.6m $176.6m | Reduced -136.8k |
| BANK OF AMERICA CORP /DE/ 0.02% of their portfolio | 1.6m $173.5m | Added +548.5k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.05% of their portfolio | 1.5m $165.3m | Added +10.3k |
| Invesco Ltd. 0.03% of their portfolio | 1.4m $154.6m | Reduced -59.5k |
| MORGAN STANLEY 0.01% of their portfolio | 1.4m $153.1m | Added +616.9k |
| Findlay Park Partners LLP 1.43% of their portfolio | 1.4m $151.7m | Added +91.8k |
| JPMORGAN CHASE & CO 0.01% of their portfolio | 1.4m $150.3m | Added +262.0k |
| DIMENSIONAL FUND ADVISORS LP 0.03% of their portfolio | 1.3m $137.4m | Reduced -222.7k |
| FRONTIER CAPITAL MANAGEMENT CO LLC 1.21% of their portfolio | 1.2m $128.4m | Added +170.2k |
| AMERIPRISE FINANCIAL INC 0.03% of their portfolio | 1.2m $128.2m | Added +92.2k |
| ALLIANCEBERNSTEIN L.P. 0.04% of their portfolio | 1.1m $117.9m | Added +253.6k |
| NORGES BANK 0.01% of their portfolio | 958.4k $103.0m | Reduced -573.5k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.02% of their portfolio | 899.7k $96.7m | Reduced -16.4k |
| AMERICAN CENTURY COMPANIES INC 0.06% of their portfolio | 885.1k $95.2m | Added +254.0k |
| Balyasny Asset Management L.P. 0.23% of their portfolio | 823.9k $88.6m | Reduced -926.5k |
| NORTHERN TRUST CORP 0.01% of their portfolio | 811.8k $87.3m | Added +3.5k |
| Channing Capital Management, LLC 2.21% of their portfolio | 805.2k $86.6m | Added +42.1k |
| Bank of New York Mellon Corp 0.02% of their portfolio | 795.1k $85.5m | Reduced -104.5k |
| Interval Partners, LP 2.43% of their portfolio | 790.2k $85.0m | Added +535.1k |
| Hood River Capital Management LLC 1.34% of their portfolio | 770.1k $82.8m | Added +185.9k |
| Anomaly Capital Management, LP 2.76% of their portfolio | 720.6k $77.5m | New |
| Holocene Advisors, LP 0.30% of their portfolio | 683.9k $73.5m | Added +259.7k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.05% of their portfolio | 553.3k $59.5m | Added +390.3k |
| PRIMECAP MANAGEMENT CO/CA/ 0.04% of their portfolio | 551.1k $59.2m | Unchanged |
| WELLS FARGO & COMPANY/MN 0.01% of their portfolio | 529.9k $57.0m | Added +19.0k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.01% of their portfolio | 501.0k $53.9m | Added +33.5k |
| PRINCIPAL FINANCIAL GROUP INC 0.03% of their portfolio | 480.7k $51.7m | Added +92.0k |
| Cannell & Spears LLC 1.00% of their portfolio | 472.7k $50.8m | New |
| HENNESSY ADVISORS INC 1.49% of their portfolio | 433.3k $46.6m | Added +53.9k |
| Douglas Lane & Associates, LLC 0.62% of their portfolio | 420.3k $45.2m | Reduced -32.0k |
| CITADEL ADVISORS LLC 0.04% of their portfolio | 398.0k $42.8m | Reduced -1.1m |
| FEDERATED HERMES, INC. 0.09% of their portfolio | 366.7k $39.4m | Reduced -99.9k |
| Nuveen Asset Management, LLC 0.01% of their portfolio | 359.8k $38.7m | Reduced -4.6k |
| Forest Avenue Capital Management LP 4.65% of their portfolio | 356.2k $38.3m | Added +65.7k |
| Hauser Brothers GmbH 28.66% of their portfolio | 347.1k $37.3m | Reduced -15.0k |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 346.4k $37.2m | Added +62.1k |
| RHUMBLINE ADVISERS 0.03% of their portfolio | 335.4k $36.1m | Reduced -2.1k |
| FISHMAN JAY A LTD/MI 3.42% of their portfolio | 320.1k $34.4m | Added +2.2k |
| GROUPAMA ASSET MANAGMENT 0.65% of their portfolio | 289.8k $25.0m | Added +22.9k |
| WESTWOOD HOLDINGS GROUP INC 0.12% of their portfolio | 265.6k $28.6m | Added +60.4k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.01% of their portfolio | 262.9k $28.3m | Reduced -21.5k |
| RICE HALL JAMES & ASSOCIATES, LLC 1.53% of their portfolio | 262.5k $28.2m | Reduced -8.6k |
| HAWK RIDGE CAPITAL MANAGEMENT LP 1.21% of their portfolio | 261.5k $28.1m | Added +211.3k |
| J. Goldman & Co LP 1.20% of their portfolio | 258.1k $27.7m | Added +9.3k |
| Retirement Systems of Alabama 0.10% of their portfolio | 252.0k $27.1m | Reduced -11.3k |
| ROYAL BANK OF CANADA 0.01% of their portfolio | 233.8k $25.1m | Reduced -5.4k |
| Caisse de depot et placement du Quebec 0.05% of their portfolio | 229.9k $24.7m | Reduced -257.5k |
| Swiss National Bank 0.02% of their portfolio | 227.2k $24.4m | Reduced -1.3k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.03% of their portfolio | 216.0k $23.2m | Reduced -1.8k |
| NEUBERGER BERMAN GROUP LLC 0.02% of their portfolio | 211.0k $22.7m | Added +149.9k |
| Arnhold LLC 2.19% of their portfolio | 210.3k $22.6m | Reduced -417 |
| ExodusPoint Capital Management, LP 0.22% of their portfolio | 202.9k $21.8m | Reduced -79.2k |
| Legal & General Group Plc 0.01% of their portfolio | 196.6k $21.1m | Added +10.1k |
| FIRST TRUST ADVISORS LP 0.02% of their portfolio | 170.8k $18.4m | Added +114.7k |
| RENAISSANCE TECHNOLOGIES LLC 0.03% of their portfolio | 169.6k $18.2m | Added +13.8k |
| VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P. 0.16% of their portfolio | 168.1k $18.1m | New |
| MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio | 160.7k $17.3m | Reduced -709.9k |
| Waratah Capital Advisors Ltd. 0.99% of their portfolio | 154.1k $16.6m | Added +4.2k |
| SEI INVESTMENTS CO 0.02% of their portfolio | 153.8k $16.5m | Added +32.4k |
| California Public Employees Retirement System 0.01% of their portfolio | 151.2k $16.3m | Reduced -53.4k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.03% of their portfolio | 143.1k $15.4m | New |
| Arvin Capital Management LP 6.37% of their portfolio | 140.4k $15.1m | Added +18.8k |
| Corebridge Financial, Inc. 0.08% of their portfolio | 139.0k $14.9m | Reduced -9.6k |
| Qube Research & Technologies Ltd 0.03% of their portfolio | 134.5k $14.5m | Reduced -1.2m |
| RAYMOND JAMES & ASSOCIATES 0.01% of their portfolio | 133.8k $14.4m | Reduced -11.3k |
| NATIONAL BANK OF CANADA /FI/ 0.02% of their portfolio | 132.3k $14.2m | Reduced -405 |
| TOCQUEVILLE ASSET MANAGEMENT L.P. 0.22% of their portfolio | 129.9k $14.0m | Added +1.8k |
| TRITONPOINT WEALTH, LLC 1.32% of their portfolio | 129.3k $14.4m | Reduced -2.3k |
| BARCLAYS PLC 0.01% of their portfolio | 126.5k $13.6m | Reduced -177.8k |
| Hudson Bay Capital Management LP 0.09% of their portfolio | 124.1k $13.3m | Added +22.7k |
| Russell Investments Group, Ltd. 0.02% of their portfolio | 122.5k $13.2m | Reduced -17.2k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.03% of their portfolio | 117.7k $12.7m | Reduced -1.6k |
| UBS Group AG 0.00% of their portfolio | 114.0k $12.3m | Reduced -117.8k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio | 110.0k $11.8m | Reduced -3.3k |
| TUDOR INVESTMENT CORP ET AL 0.13% of their portfolio | 106.6k $11.5m | Added +25.3k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.02% of their portfolio | 105.8k $11.4m | Unchanged |
| MACQUARIE GROUP LTD 0.01% of their portfolio | 104.4k $11.2m | Added +75.0k |
| THORNBURG INVESTMENT MANAGEMENT INC 0.14% of their portfolio | 102.9k $11.1m | Added +9 |
| Hill City Capital, LP 0.71% of their portfolio | 100.0k $10.8m | Unchanged |
| STATE OF WISCONSIN INVESTMENT BOARD 0.03% of their portfolio | 99.2k $10.7m | Reduced -738 |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 98.6k $10.6m | Added +24.1k |
| Redmond Asset Management, LLC 3.24% of their portfolio | 96.1k $10.3m | Reduced -2.3k |
| Driehaus Capital Management LLC 0.09% of their portfolio | 95.4k $10.3m | New |
| CAPITAL FUND MANAGEMENT S.A. 0.11% of their portfolio | 94.1k $10.1m | New |
| CANADA LIFE ASSURANCE Co 0.02% of their portfolio | 92.5k $10.0m | Added +4.4k |
| JAG CAPITAL MANAGEMENT, LLC 1.18% of their portfolio | 90.5k $9.7m | Added +88.0k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.02% of their portfolio | 89.4k $9.6m | New |
| JACOBS LEVY EQUITY MANAGEMENT, INC 0.04% of their portfolio | 85.2k $9.2m | Reduced -28.6k |