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 ($12.9m this quarter). Holder counts are more reliable. Shares outstanding: 117.2m as of 2025-01-31, 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 ≈ $131.15. Options: 27 managers hold calls ($218.4m notional), 29 hold puts ($220.9m).
Trends to Q4 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 |
| Q4 2024 | 543 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| 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 |
| Q4 2024 | 234 | 249 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2024 | $418.6m | $455.2m | 1.09 |
| Q2 2024 | $254.9m | $236.9m | 0.93 |
| Q3 2024 | $150.6m | $171.1m | 1.14 |
| Q4 2024 | $218.4m | $220.9m | 1.01 |
Biggest buyers
| Capital Research Global Investors | Added | +2.1m |
| T. Rowe Price Investment Management, Inc. | New | +1.8m |
| Capital World Investors | Added | +1.6m |
| BlackRock, Inc. | Added | +956.0k |
| UBS Group AG | Added | +620.2k |
| Durable Capital Partners LP | New | +578.9k |
| NORGES BANK | Added | +481.2k |
| NATIXIS | New | +440.7k |
| Invesco Ltd. | Added | +425.7k |
| MILLENNIUM MANAGEMENT LLC | Added | +315.6k |
Biggest sellers
| D1 Capital Partners L.P. | Reduced | -2.7m |
| FIL Ltd | Reduced | -1.0m |
| Orbis Allan Gray Ltd | Reduced | -850.0k |
| Cercano Management LLC | Reduced | -840.5k |
| Interval Partners, LP | Sold out | -790.2k |
| BANK OF AMERICA CORP /DE/ | Reduced | -732.0k |
| Channing Capital Management, LLC | Reduced | -696.3k |
| JPMORGAN CHASE & CO | Reduced | -639.3k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | Reduced | -467.2k |
| HENNESSY ADVISORS INC | Sold out | -433.3k |
Biggest calls
| Forest Avenue Capital Management LP | New | $29.5m225.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $28.0m213.7k shares |
| CITADEL ADVISORS LLC | Reduced | $21.3m162.2k shares |
| MAPLELANE CAPITAL, LLC | New | $18.9m144.3k shares |
| IMC-Chicago, LLC | Added | $17.4m132.9k shares |
| JANE STREET GROUP, LLC | Added | $13.1m100.2k shares |
| Walleye Trading LLC | Reduced | $13.0m98.8k shares |
| PEAK6 LLC | First filing | $11.0m83.6k shares |
| Cubist Systematic Strategies, LLC | Added | $10.0m76.4k shares |
| Squarepoint Ops LLC | New | $8.8m67.4k shares |
Biggest puts
| CITADEL ADVISORS LLC | Added | $63.2m482.1k shares |
| SIMPLEX TRADING, LLC | Added | $22.2m169.2k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $18.7m142.9k shares |
| JANE STREET GROUP, LLC | Added | $18.6m141.5k shares |
| IMC-Chicago, LLC | Reduced | $11.3m86.5k shares |
| Squarepoint Ops LLC | New | $10.8m82.5k shares |
| JPMORGAN CHASE & CO | New | $9.8m74.9k shares |
| Walleye Trading LLC | Added | $8.8m66.9k shares |
| WOLVERINE TRADING, LLC | Added | $7.9m59.6k shares |
| CAPITAL FUND MANAGEMENT S.A. | Reduced | $7.0m53.3k 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 Q4 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 |
|---|---|---|---|---|---|
| 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 | — | — |
| Q4 2024 | 0 | — | 0 | — | — |
None reported in Q4 2024.
Holders, Q4 2024
| Manager | Shares | Change |
|---|---|---|
| Capital Research Global Investors 0.37% of their portfolio | 13.6m $1.8bn | Added +2.1m |
| BlackRock, Inc. 0.03% of their portfolio | 11.8m $1.5bn | Added +956.0k |
| MFN Partners Management, LP 29.51% of their portfolio | 11.4m $1.5bn | Unchanged |
| VANGUARD GROUP INC 0.03% of their portfolio | 11.0m $1.4bn | Added +79.4k |
| Capital World Investors 0.15% of their portfolio | 7.8m $1.0bn | Added +1.6m |
| STATE STREET CORP 0.02% of their portfolio | 3.6m $472.3m | Added +123.7k |
| Orbis Allan Gray Ltd 2.11% of their portfolio | 3.0m $392.3m | Reduced -850.0k |
| Clearbridge Investments, LLC 0.28% of their portfolio | 2.7m $348.5m | Reduced -95.0k |
| FMR LLC 0.02% of their portfolio | 2.6m $341.8m | Added +91.3k |
| Cercano Management LLC 7.69% of their portfolio | 2.3m $301.8m | Reduced -840.5k |
| D1 Capital Partners L.P. 4.43% of their portfolio | 2.0m $266.7m | Reduced -2.7m |
| GEODE CAPITAL MANAGEMENT, LLC 0.02% of their portfolio | 2.0m $260.3m | Added +2.4k |
| Invesco Ltd. 0.05% of their portfolio | 1.9m $244.4m | Added +425.7k |
| T. Rowe Price Investment Management, Inc. 0.14% of their portfolio | 1.8m $231.7m | New |
| MORGAN STANLEY 0.01% of their portfolio | 1.5m $202.9m | Added +122.9k |
| NORGES BANK 0.02% of their portfolio | 1.4m $188.8m | Added +481.2k |
| Findlay Park Partners LLP 1.84% of their portfolio | 1.4m $184.8m | Reduced -2.1k |
| DIMENSIONAL FUND ADVISORS LP 0.04% of their portfolio | 1.3m $166.7m | Reduced -6.5k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.05% of their portfolio | 1.3m $165.1m | Reduced -278.9k |
| FRONTIER CAPITAL MANAGEMENT CO LLC 1.54% of their portfolio | 1.2m $162.6m | Added +44.9k |
| AMERIPRISE FINANCIAL INC 0.04% of their portfolio | 1.2m $152.4m | Reduced -30.2k |
| ALLIANCEBERNSTEIN L.P. 0.05% of their portfolio | 1.0m $137.6m | Reduced -46.9k |
| NORTHERN TRUST CORP 0.02% of their portfolio | 1.0m $132.2m | Added +196.4k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.02% of their portfolio | 888.2k $116.5m | Reduced -11.5k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 881.6k $115.6m | Reduced -732.0k |
| Holocene Advisors, LP 0.37% of their portfolio | 867.1k $113.7m | Added +183.2k |
| Hood River Capital Management LLC 1.55% of their portfolio | 798.5k $104.7m | Added +28.4k |
| Bank of New York Mellon Corp 0.02% of their portfolio | 781.2k $102.5m | Reduced -14.0k |
| JPMORGAN CHASE & CO 0.01% of their portfolio | 758.3k $99.5m | Reduced -639.3k |
| UBS Group AG 0.02% of their portfolio | 734.2k $96.3m | Added +620.2k |
| AMERICAN CENTURY COMPANIES INC 0.05% of their portfolio | 726.4k $95.3m | Reduced -158.7k |
| Balyasny Asset Management L.P. 0.22% of their portfolio | 707.0k $92.7m | Reduced -116.9k |
| CITADEL ADVISORS LLC 0.08% of their portfolio | 699.2k $91.7m | Added +301.2k |
| RAYMOND JAMES FINANCIAL INC 0.03% of their portfolio | 695.1k $91.2m | First filing |
| FIL Ltd 0.08% of their portfolio | 626.8k $82.2m | Reduced -1.0m |
| Durable Capital Partners LP 0.62% of their portfolio | 578.9k $75.9m | New |
| Forest Avenue Capital Management LP 6.87% of their portfolio | 557.0k $73.1m | Added +200.8k |
| Anomaly Capital Management, LP 2.12% of their portfolio | 546.7k $71.7m | Reduced -174.0k |
| PRIMECAP MANAGEMENT CO/CA/ 0.06% of their portfolio | 542.2k $71.1m | Reduced -8.9k |
| WELLS FARGO & COMPANY/MN 0.02% of their portfolio | 532.5k $69.8m | Added +2.6k |
| PRINCIPAL FINANCIAL GROUP INC 0.03% of their portfolio | 487.6k $64.0m | Added +7.0k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.01% of their portfolio | 477.3k $62.6m | Reduced -23.6k |
| MILLENNIUM MANAGEMENT LLC 0.05% of their portfolio | 476.3k $62.5m | Added +315.6k |
| NATIXIS 0.39% of their portfolio | 440.7k $57.8m | New |
| VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P. 0.49% of their portfolio | 404.8k $53.1m | Added +236.7k |
| Cannell & Spears LLC 1.07% of their portfolio | 399.0k $52.3m | Reduced -73.7k |
| GROUPAMA ASSET MANAGMENT 1.03% of their portfolio | 380.1k $50.4m | Added +90.4k |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 365.9k $48.0m | Added +19.6k |
| NEUBERGER BERMAN GROUP LLC 0.04% of their portfolio | 364.6k $47.8m | Added +153.6k |
| Douglas Lane & Associates, LLC 0.65% of their portfolio | 350.5k $46.0m | Reduced -69.8k |
| RHUMBLINE ADVISERS 0.04% of their portfolio | 336.4k $44.1m | Added +988 |
| One Madison Group LLC 4.99% of their portfolio | 332.0k $43.5m | First filing |
| Nuveen Asset Management, LLC 0.01% of their portfolio | 324.5k $42.6m | Reduced -35.3k |
| FEDERATED HERMES, INC. 0.09% of their portfolio | 324.2k $42.5m | Reduced -42.5k |
| FISHMAN JAY A LTD/MI 3.90% of their portfolio | 317.1k $41.6m | Reduced -3.0k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.01% of their portfolio | 292.3k $38.3m | Added +29.4k |
| ROYAL BANK OF CANADA 0.01% of their portfolio | 261.1k $34.2m | Added +27.3k |
| Hauser Brothers GmbH 23.67% of their portfolio | 252.3k $33.1m | Reduced -94.8k |
| HAWK RIDGE CAPITAL MANAGEMENT LP 1.56% of their portfolio | 250.1k $32.8m | Reduced -11.5k |
| RICE HALL JAMES & ASSOCIATES, LLC 1.79% of their portfolio | 248.9k $32.6m | Reduced -13.6k |
| Retirement Systems of Alabama 0.12% of their portfolio | 247.5k $32.5m | Reduced -4.5k |
| Qube Research & Technologies Ltd 0.05% of their portfolio | 242.1k $31.7m | Added +107.6k |
| RENAISSANCE TECHNOLOGIES LLC 0.05% of their portfolio | 237.4k $31.1m | Added +67.8k |
| JANE STREET GROUP, LLC 0.05% of their portfolio | 234.0k $30.7m | Added +153.4k |
| Swiss National Bank 0.02% of their portfolio | 228.9k $30.0m | Added +1.7k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.04% of their portfolio | 202.3k $26.5m | Added +59.2k |
| Legal & General Group Plc 0.01% of their portfolio | 185.6k $24.3m | Reduced -11.0k |
| California Public Employees Retirement System 0.02% of their portfolio | 179.3k $23.5m | Added +28.1k |
| Arnhold LLC 2.14% of their portfolio | 165.7k $21.7m | Reduced -44.6k |
| Caisse de depot et placement du Quebec 0.04% of their portfolio | 164.6k $21.6m | Reduced -65.2k |
| WESTWOOD HOLDINGS GROUP INC 0.15% of their portfolio | 151.2k $19.8m | Reduced -114.4k |
| Waratah Capital Advisors Ltd. 1.01% of their portfolio | 137.4k $18.0m | Reduced -16.7k |
| TD Asset Management Inc 0.02% of their portfolio | 134.0k $17.6m | Added +124.3k |
| NATIONAL BANK OF CANADA /FI/ 0.02% of their portfolio | 133.7k $17.5m | Added +1.4k |
| Corebridge Financial, Inc. 0.09% of their portfolio | 133.0k $17.4m | Reduced -6.0k |
| CITIGROUP INC 0.02% of their portfolio | 130.8k $17.2m | Added +108.0k |
| TOCQUEVILLE ASSET MANAGEMENT L.P. 0.27% of their portfolio | 130.0k $17.0m | Added +50 |
| TRITONPOINT WEALTH, LLC 1.49% of their portfolio | 125.5k $16.5m | Reduced -3.8k |
| Driehaus Capital Management LLC 0.14% of their portfolio | 125.3k $16.4m | Added +29.9k |
| MACQUARIE GROUP LTD 0.02% of their portfolio | 118.6k $15.6m | Added +14.2k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.03% of their portfolio | 114.2k $15.0m | Reduced -3.5k |
| Channing Capital Management, LLC 0.38% of their portfolio | 108.9k $14.3m | Reduced -696.3k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.02% of their portfolio | 108.8k $14.3m | Reduced -1.2k |
| JAG CAPITAL MANAGEMENT, LLC 1.98% of their portfolio | 108.1k $14.2m | Added +17.6k |
| SEI INVESTMENTS CO 0.02% of their portfolio | 107.6k $14.1m | Reduced -46.2k |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 106.5k $14.0m | Added +7.9k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.03% of their portfolio | 104.5k $13.7m | Reduced -1.2k |
| THORNBURG INVESTMENT MANAGEMENT INC 0.18% of their portfolio | 102.9k $13.5m | Reduced -32 |
| Walleye Capital LLC 0.13% of their portfolio | 100.8k $13.2m | Added +75.3k |
| BARCLAYS PLC 0.01% of their portfolio | 100.5k $13.2m | Reduced -26.0k |
| Hill City Capital, LP 0.84% of their portfolio | 100.0k $13.1m | Unchanged |
| Russell Investments Group, Ltd. 0.02% of their portfolio | 99.1k $13.0m | Reduced -23.4k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.03% of their portfolio | 97.3k $12.8m | Reduced -2.0k |
| CANADA LIFE ASSURANCE Co 0.02% of their portfolio | 92.6k $12.2m | Added +50 |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.01% of their portfolio | 86.1k $11.3m | Reduced -467.2k |
| Arvin Capital Management LP 4.46% of their portfolio | 84.8k $11.1m | Reduced -55.6k |
| Walleye Trading LLC 0.21% of their portfolio | 79.5k $10.4m | Added +56.9k |
| Redmond Asset Management, LLC 2.54% of their portfolio | 77.6k $10.2m | Reduced -18.5k |
| Lagoda Investment Management, L.P. 5.45% of their portfolio | 76.8k $10.1m | Reduced -3.3k |
| Schonfeld Strategic Advisors LLC 0.06% of their portfolio | 75.8k $9.9m | Added +1.3k |