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 ($17.2m this quarter). Holder counts are more reliable. Shares outstanding: 117.1m as of 2026-01-30, 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 ≈ $135.93. Options: 22 managers hold calls ($264.9m notional), 22 hold puts ($338.7m).
Trends to Q4 2025
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 |
| Q1 2025 | 527 |
| Q2 2025 | 549 |
| Q3 2025 | 543 |
| Q4 2025 | 587 |
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 2024 | 241 | 227 |
| Q2 2024 | 235 | 242 |
| Q3 2024 | 234 | 225 |
| Q4 2024 | 234 | 249 |
| Q1 2025 | 248 | 250 |
| Q2 2025 | 248 | 255 |
| Q3 2025 | 242 | 236 |
| Q4 2025 | 266 | 225 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2025 | $96.9m | $74.4m | 0.77 |
| Q2 2025 | $119.7m | $52.1m | 0.44 |
| Q3 2025 | $193.0m | $85.1m | 0.44 |
| Q4 2025 | $264.9m | $338.7m | 1.28 |
Biggest buyers
| T. Rowe Price Investment Management, Inc. | Added | +1.9m |
| BESSEMER GROUP INC | Added | +1.1m |
| Holocene Advisors, LP | Added | +853.5k |
| FMR LLC | Added | +819.4k |
| WELLINGTON MANAGEMENT GROUP LLP | New | +603.4k |
| Orbis Allan Gray Ltd | Added | +499.2k |
| CITADEL ADVISORS LLC | Added | +458.4k |
| UBS Group AG | Added | +332.4k |
| Clearbridge Investments, LLC | Added | +261.9k |
| GOLDMAN SACHS GROUP INC | Added | +243.8k |
Biggest sellers
| Capital Research Global Investors | Reduced | -2.9m |
| JPMORGAN CHASE & CO | Reduced | -1.2m |
| D1 Capital Partners L.P. | Reduced | -470.7k |
| FRONTIER CAPITAL MANAGEMENT CO LLC | Reduced | -391.2k |
| Capital World Investors | Reduced | -387.4k |
| Durable Capital Partners LP | Reduced | -382.2k |
| MORGAN STANLEY | Reduced | -307.3k |
| BANK OF AMERICA CORP /DE/ | Reduced | -296.9k |
| Squarepoint Ops LLC | Sold out | -269.8k |
| MILLENNIUM MANAGEMENT LLC | Reduced | -257.2k |
Biggest calls
| Holocene Advisors, LP | Reduced | $70.7m520.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $44.7m328.7k shares |
| UBS Group AG | Added | $36.6m269.3k shares |
| PEAK6 LLC | Added | $30.6m225.4k shares |
| CITADEL ADVISORS LLC | Reduced | $29.2m214.6k shares |
| JPMORGAN CHASE & CO | Reduced | $12.2m89.7k shares |
| JANE STREET GROUP, LLC | Added | $9.9m73.2k shares |
| IMC-Chicago, LLC | Reduced | $7.2m53.2k shares |
| Parallax Volatility Advisers, L.P. | New | $6.1m45.0k shares |
| Walleye Trading LLC | Added | $5.3m39.1k shares |
Biggest puts
| BARCLAYS PLC | Added | $126.0m927.0k shares |
| JANE STREET GROUP, LLC | Added | $52.4m385.4k shares |
| IMC-Chicago, LLC | Added | $36.8m270.8k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $27.9m205.3k shares |
| Parallax Volatility Advisers, L.P. | New | $27.2m200.0k shares |
| PEAK6 LLC | Added | $15.2m112.0k shares |
| JPMORGAN CHASE & CO | Reduced | $12.2m89.7k shares |
| CITADEL ADVISORS LLC | Added | $11.1m81.9k shares |
| UBS Group AG | Added | $7.7m56.5k shares |
| GROUP ONE TRADING LLC | Added | $7.0m51.8k 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 2025
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 2024 | 0 | — | 0 | — | — |
| Q2 2024 | 0 | — | 1 | $196.0k | — |
| Q3 2024 | 0 | — | 0 | — | — |
| Q4 2024 | 0 | — | 0 | — | — |
| Q1 2025 | 1 | $199.6k | 0 | — | — |
| Q2 2025 | 0 | — | 0 | — | — |
| Q3 2025 | 0 | — | 1 | $438.9k | — |
| Q4 2025 | 0 | — | 0 | — | — |
None reported in Q4 2025.
Holders, Q4 2025
| Manager | Shares | Change |
|---|---|---|
| BlackRock, Inc. 0.03% of their portfolio | 11.6m $1.6bn | Added +24.1k |
| MFN Partners Management, LP 32.82% of their portfolio | 11.4m $1.6bn | Unchanged |
| Capital Research Global Investors 0.28% of their portfolio | 11.2m $1.5bn | Reduced -2.9m |
| VANGUARD GROUP INC 0.02% of their portfolio | 10.5m $1.4bn | Reduced -162.9k |
| Capital World Investors 0.19% of their portfolio | 10.5m $1.4bn | Reduced -387.4k |
| Invesco Ltd. 0.08% of their portfolio | 6.2m $847.8m | Reduced -30.0k |
| T. Rowe Price Investment Management, Inc. 0.26% of their portfolio | 4.9m $665.9m | Added +1.9m |
| Durable Capital Partners LP 5.08% of their portfolio | 3.9m $536.7m | Reduced -382.2k |
| Orbis Allan Gray Ltd 2.08% of their portfolio | 3.7m $496.4m | Added +499.2k |
| STATE STREET CORP 0.02% of their portfolio | 3.5m $477.1m | Reduced -17.1k |
| Clearbridge Investments, LLC 0.32% of their portfolio | 3.0m $403.7m | Added +261.9k |
| FMR LLC 0.02% of their portfolio | 2.9m $395.0m | Added +819.4k |
| GEODE CAPITAL MANAGEMENT, LLC 0.02% of their portfolio | 2.1m $287.8m | Added +22.6k |
| D1 Capital Partners L.P. 2.58% of their portfolio | 2.0m $276.6m | Reduced -470.7k |
| Cercano Management LLC 10.01% of their portfolio | 1.9m $264.5m | Unchanged |
| NORGES BANK 0.02% of their portfolio | 1.5m $204.3m | Not comparable |
| Findlay Park Partners LLP 2.45% of their portfolio | 1.4m $192.3m | Reduced -75.3k |
| FIL Ltd 0.14% of their portfolio | 1.4m $185.9m | Reduced -53.2k |
| Holocene Advisors, LP 0.35% of their portfolio | 1.2m $165.2m | Added +853.5k |
| MORGAN STANLEY 0.01% of their portfolio | 1.2m $162.2m | Reduced -307.3k |
| DIMENSIONAL FUND ADVISORS LP 0.03% of their portfolio | 1.2m $161.9m | Added +12.0k |
| UBS Group AG 0.03% of their portfolio | 1.2m $159.4m | Added +332.4k |
| Hood River Capital Management LLC 1.71% of their portfolio | 1.1m $156.2m | Added +21.0k |
| BESSEMER GROUP INC 0.23% of their portfolio | 1.1m $152.4m | Added +1.1m |
| NORTHERN TRUST CORP 0.02% of their portfolio | 952.2k $129.4m | Reduced -29.4k |
| COOKE & BIELER LP 1.32% of their portfolio | 933.7k $126.9m | Reduced -42 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.02% of their portfolio | 882.0k $119.9m | Added +8.6k |
| RAYMOND JAMES FINANCIAL INC 0.04% of their portfolio | 836.9k $114.7m | Reduced -31.2k |
| WESTFIELD CAPITAL MANAGEMENT CO LP 0.41% of their portfolio | 724.2k $98.4m | Added +29.5k |
| FRONTIER CAPITAL MANAGEMENT CO LLC 1.04% of their portfolio | 720.4k $97.9m | Reduced -391.2k |
| Bank of New York Mellon Corp 0.02% of their portfolio | 710.6k $96.6m | Reduced -9.1k |
| GROUPAMA ASSET MANAGMENT 1.29% of their portfolio | 648.5k $88.1m | Reduced -7.3k |
| WELLINGTON MANAGEMENT GROUP LLP 0.01% of their portfolio | 603.4k $82.0m | New |
| PRIMECAP MANAGEMENT CO/CA/ 0.06% of their portfolio | 569.6k $77.4m | Reduced -17.9k |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 556.2k $75.6m | Added +243.8k |
| CITADEL ADVISORS LLC 0.05% of their portfolio | 517.8k $70.4m | Added +458.4k |
| AMERIPRISE FINANCIAL INC 0.02% of their portfolio | 489.1k $66.5m | Reduced -25.9k |
| Forest Avenue Capital Management LP 4.18% of their portfolio | 467.1k $63.5m | Reduced -25.3k |
| BNP PARIBAS FINANCIAL MARKETS 0.04% of their portfolio | 439.2k $59.7m | Added +97.2k |
| WELLS FARGO & COMPANY/MN 0.01% of their portfolio | 436.8k $59.4m | Added +29.0k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 426.2k $57.9m | Reduced -296.9k |
| One Madison Group LLC 5.71% of their portfolio | 363.9k $49.5m | Reduced -36.1k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 331.4k $45.0m | Reduced -1.2m |
| PRINCIPAL FINANCIAL GROUP INC 0.02% of their portfolio | 308.5k $41.9m | Reduced -10.0k |
| FISHMAN JAY A LTD/MI 3.33% of their portfolio | 298.3k $40.5m | Reduced -3.1k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.01% of their portfolio | 297.6k $40.4m | Reduced -8.8k |
| RHUMBLINE ADVISERS 0.03% of their portfolio | 293.9k $39.9m | Reduced -15.7k |
| FEDERATED HERMES, INC. 0.06% of their portfolio | 275.2k $37.4m | Reduced -1.2k |
| AMERICAN CENTURY COMPANIES INC 0.02% of their portfolio | 260.1k $35.3m | Added +228.6k |
| Douglas Lane & Associates, LLC 0.48% of their portfolio | 256.9k $34.9m | Reduced -18.1k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.01% of their portfolio | 239.7k $32.6m | Reduced -14.9k |
| Swiss National Bank 0.02% of their portfolio | 232.2k $31.6m | Added +3.8k |
| Nuveen, LLC 0.01% of their portfolio | 231.2k $31.4m | Reduced -12.2k |
| ROYAL BANK OF CANADA 0.01% of their portfolio | 226.9k $30.8m | Reduced -90.8k |
| RICE HALL JAMES & ASSOCIATES, LLC 1.64% of their portfolio | 219.2k $29.8m | Reduced -4.4k |
| Baird Financial Group, Inc. 0.05% of their portfolio | 217.1k $29.5m | Added +91.0k |
| Retirement Systems of Alabama 0.09% of their portfolio | 213.6k $29.0m | Reduced -1.5k |
| TD Asset Management Inc 0.02% of their portfolio | 207.8k $28.2m | Reduced -8.6k |
| TWO SIGMA INVESTMENTS, LP 0.04% of their portfolio | 195.7k $26.6m | Reduced -46.9k |
| HAWK RIDGE CAPITAL MANAGEMENT LP 1.22% of their portfolio | 194.0k $26.4m | Reduced -75.4k |
| Greenstone Partners & Co., LLC 5.12% of their portfolio | 193.7k $26.3m | Added +3.3k |
| VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P. 0.26% of their portfolio | 192.2k $26.1m | Reduced -1.9k |
| Legal & General Group Plc 0.01% of their portfolio | 184.5k $25.1m | Reduced -4.2k |
| PICTON MAHONEY ASSET MANAGEMENT 0.27% of their portfolio | 183.6k $24.9m | Added +31.8k |
| MILFORD FUNDS LTD 0.48% of their portfolio | 180.0k $24.5m | First filing |
| SEI INVESTMENTS CO 0.02% of their portfolio | 179.4k $24.4m | Added +631 |
| WESTWOOD HOLDINGS GROUP INC 0.19% of their portfolio | 171.1k $23.2m | Reduced -11.3k |
| BARCLAYS PLC 0.01% of their portfolio | 166.1k $22.6m | Added +5.7k |
| ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio | 165.9k $22.5m | Reduced -85.4k |
| Caisse de depot et placement du Quebec 0.04% of their portfolio | 165.9k $22.5m | Added +107.4k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 164.9k $22.4m | Added +5.7k |
| California Public Employees Retirement System 0.01% of their portfolio | 164.5k $22.4m | Added +12.6k |
| Jain Global LLC 0.20% of their portfolio | 152.2k $20.7m | Added +112.2k |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. 0.03% of their portfolio | 146.5k $19.9m | First filing |
| Arnhold LLC 1.35% of their portfolio | 131.1k $17.8m | Unchanged |
| STEADFAST CAPITAL MANAGEMENT LP 0.30% of their portfolio | 127.0k $17.3m | New |
| NATIONAL BANK OF CANADA /FI/ 0.02% of their portfolio | 121.2k $16.5m | Added +1.8k |
| JANE STREET GROUP, LLC 0.02% of their portfolio | 118.8k $16.1m | Reduced -93.1k |
| TUDOR INVESTMENT CORP ET AL 0.09% of their portfolio | 115.8k $15.7m | Added +85.0k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.02% of their portfolio | 111.5k $15.1m | Added +520 |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 109.5k $14.9m | Added +11.9k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.03% of their portfolio | 107.2k $14.6m | Reduced -3.8k |
| RENAISSANCE TECHNOLOGIES LLC 0.02% of their portfolio | 103.1k $14.0m | Added +68.1k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.03% of their portfolio | 100.1k $13.6m | Added +9.7k |
| Schonfeld Strategic Advisors LLC 0.07% of their portfolio | 98.8k $13.4m | Added +25.7k |
| TRITONPOINT WEALTH, LLC 1.34% of their portfolio | 97.5k $13.3m | Reduced -1.0k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.02% of their portfolio | 96.1k $13.1m | Reduced -3.2k |
| TOCQUEVILLE ASSET MANAGEMENT L.P. 0.18% of their portfolio | 93.1k $12.7m | Unchanged |
| iA Global Asset Management Inc. 0.16% of their portfolio | 91.1k $12.4m | New |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.02% of their portfolio | 90.0k $12.2m | Reduced -110.7k |
| MetLife Investment Management, LLC 0.06% of their portfolio | 87.9k $11.9m | Reduced -3.0k |
| Allspring Global Investments Holdings, LLC 0.02% of their portfolio | 85.4k $11.9m | Reduced -1.3k |
| THORNBURG INVESTMENT MANAGEMENT INC 0.14% of their portfolio | 84.5k $11.5m | Reduced -573 |
| Gotham Asset Management, LLC 0.04% of their portfolio | 77.1k $10.5m | Added +32.2k |
| Hudson Bay Capital Management LP 0.06% of their portfolio | 76.9k $10.5m | Reduced -2.2k |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.03% of their portfolio | 76.3k $10.4m | Added +1.1k |
| Channing Capital Management, LLC 0.26% of their portfolio | 73.6k $10.0m | Reduced -14.8k |
| Russell Investments Group, Ltd. 0.01% of their portfolio | 73.0k $9.9m | Added +3.1k |
| 1832 Asset Management L.P. 0.01% of their portfolio | 73.0k $9.9m | New |
| LPL Financial LLC 0.00% of their portfolio | 72.1k $9.8m | Added +7.0k |