XCEL ENERGY INC XEL
COM · Common Stock · CUSIP 98389B100 · ISIN US98389B1008
American utilities company
- SectorUtilities
- IndustryElectric & Other Services Combined
- HeadquartersMinneapolis, MN
- Founded1998
- Websitemy.xcelenergy.com
- FilingsSEC EDGAR
* 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 ($171.2m this quarter). Holder counts are more reliable. Shares outstanding: 591.5m as of 2025-10-28, 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 ≈ $80.63. Options: 22 managers hold calls ($136.3m notional), 15 hold puts ($64.7m).
Trends to Q3 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 937 |
| Q4 2022 | 983 |
| Q1 2023 | 971 |
| Q2 2023 | 963 |
| Q3 2023 | 928 |
| Q4 2023 | 1,019 |
| Q1 2024 | 981 |
| Q2 2024 | 974 |
| Q3 2024 | 1,034 |
| Q4 2024 | 1,115 |
| Q1 2025 | 1,136 |
| Q2 2025 | 1,134 |
| Q3 2025 | 1,185 |
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 2023 | 479 | 394 |
| Q1 2024 | 429 | 514 |
| Q2 2024 | 465 | 411 |
| Q3 2024 | 515 | 413 |
| Q4 2024 | 539 | 376 |
| Q1 2025 | 526 | 450 |
| Q2 2025 | 559 | 460 |
| Q3 2025 | 620 | 407 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q4 2024 | $160.9m | $26.5m | 0.16 |
| Q1 2025 | $172.9m | $36.3m | 0.21 |
| Q2 2025 | $190.7m | $75.2m | 0.39 |
| Q3 2025 | $136.3m | $64.7m | 0.47 |
Biggest buyers
| JPMORGAN CHASE & CO | Added | +21.9m |
| GOLDMAN SACHS GROUP INC | Added | +2.9m |
| DEUTSCHE BANK AG\ | Added | +2.7m |
| BANK OF AMERICA CORP /DE/ | Added | +2.6m |
| BARCLAYS PLC | Added | +2.1m |
| VANGUARD GROUP INC | Added | +2.0m |
| STATE STREET CORP | Added | +1.8m |
| MILLENNIUM MANAGEMENT LLC | Added | +1.7m |
| MACQUARIE GROUP LTD | Added | +1.5m |
| FRANKLIN RESOURCES INC | Added | +1.2m |
Biggest sellers
| PRICE T ROWE ASSOCIATES INC /MD/ | Reduced | -3.7m |
| ROYAL BANK OF CANADA | Reduced | -3.4m |
| Mitsubishi UFJ Trust & Banking Corp | Reduced | -1.0m |
| Assenagon Asset Management S.A. | Reduced | -982.4k |
| Zimmer Partners, LP | Reduced | -968.3k |
| Balyasny Asset Management L.P. | Reduced | -776.4k |
| Aristotle Capital Management, LLC | Reduced | -734.9k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | Reduced | -728.7k |
| AQR CAPITAL MANAGEMENT LLC | Reduced | -432.0k |
| Brookfield Corp /ON/ | Reduced | -393.5k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $46.0m569.8k shares |
| CITADEL ADVISORS LLC | Reduced | $34.5m427.4k shares |
| Twin Tree Management, LP | New | $19.5m242.4k shares |
| JANE STREET GROUP, LLC | Added | $6.3m78.1k shares |
| CAPITAL FUND MANAGEMENT S.A. | Added | $5.0m62.6k shares |
| IMC-Chicago, LLC | Reduced | $4.7m58.7k shares |
| D. E. Shaw & Co., Inc. | New | $3.4m42.5k shares |
| Jefferies Financial Group Inc. | New | $2.8m34.5k shares |
| Walleye Trading LLC | Added | $2.5m30.9k shares |
| GROUP ONE TRADING LLC | Reduced | $2.4m29.2k shares |
Biggest puts
| CITADEL ADVISORS LLC | Reduced | $26.2m325.3k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $9.3m114.9k shares |
| GROUP ONE TRADING LLC | Reduced | $8.3m102.4k shares |
| CAPITAL FUND MANAGEMENT S.A. | Reduced | $3.3m40.4k shares |
| SIMPLEX TRADING, LLC | Added | $3.2m39.7k shares |
| GOLDMAN SACHS GROUP INC | New | $2.8m34.5k shares |
| Walleye Trading LLC | Added | $2.4m30.3k shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $1.6m19.3k shares |
| IMC-Chicago, LLC | Reduced | $1.5m19.0k shares |
| JANE STREET GROUP, LLC | New | $1.4m17.2k 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 |
|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 7.3% |
| VANGUARD PORTFOLIO MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 5.6% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD CAPITAL MANAGEMENT LLC), PRICE T ROWE ASSOCIATES INC /MD/ (4.7%, 2025-11-14)
Insider purchases and sales in Q3 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 |
|---|---|---|---|---|---|
| Q4 2023 | 0 | — | 0 | — | — |
| Q1 2024 | 0 | — | 0 | — | — |
| Q2 2024 | 0 | — | 1 | $979.5k | — |
| Q3 2024 | 0 | — | 1 | $121.4k | — |
| Q4 2024 | 0 | — | 0 | — | — |
| Q1 2025 | 1 | $149.6k | 0 | — | — |
| Q2 2025 | 0 | — | 0 | — | — |
| Q3 2025 | 0 | — | 0 | — | — |
None reported in Q3 2025.
Holders, Q3 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.09% of their portfolio | 76.7m $6.2bn | Added +2.0m |
| BlackRock, Inc. 0.07% of their portfolio | 51.6m $4.2bn | Added +985.1k |
| JPMORGAN CHASE & CO 0.11% of their portfolio | 42.1m $3.4bn | Added +21.9m |
| STATE STREET CORP 0.10% of their portfolio | 35.9m $2.9bn | Added +1.8m |
| BANK OF AMERICA CORP /DE/ 0.17% of their portfolio | 28.9m $2.3bn | Added +2.6m |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.24% of their portfolio | 27.9m $2.3bn | Reduced -3.7m |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.49% of their portfolio | 19.5m $1.6bn | Added +807.4k |
| GEODE CAPITAL MANAGEMENT, LLC 0.08% of their portfolio | 16.4m $1.3bn | Added +178.4k |
| GQG Partners LLC 1.62% of their portfolio | 13.1m $1.1bn | Added +572.1k |
| Aristotle Capital Management, LLC 1.90% of their portfolio | 12.2m $980.9m | Reduced -734.9k |
| GOLDMAN SACHS GROUP INC 0.11% of their portfolio | 9.2m $738.6m | Added +2.9m |
| Invesco Ltd. 0.10% of their portfolio | 7.8m $627.7m | Added +416.4k |
| MORGAN STANLEY 0.04% of their portfolio | 7.2m $579.8m | Added +473.6k |
| FRANKLIN RESOURCES INC 0.13% of their portfolio | 6.7m $539.7m | Added +1.2m |
| FMR LLC 0.03% of their portfolio | 6.4m $517.6m | Added +485.8k |
| BARROW HANLEY MEWHINNEY & STRAUSS LLC 1.59% of their portfolio | 6.2m $498.8m | Reduced -35.3k |
| BARCLAYS PLC 0.18% of their portfolio | 6.1m $491.8m | Added +2.1m |
| Legal & General Group Plc 0.11% of their portfolio | 6.0m $485.0m | Added +362.0k |
| Pictet Asset Management Holding SA 0.47% of their portfolio | 6.0m $484.5m | Added +718.0k |
| DEUTSCHE BANK AG\ 0.14% of their portfolio | 5.3m $426.7m | Added +2.7m |
| NORTHERN TRUST CORP 0.05% of their portfolio | 5.3m $425.0m | Added +11.0k |
| ROYAL BANK OF CANADA 0.06% of their portfolio | 4.3m $347.3m | Reduced -3.4m |
| Newport Trust Company, LLC 0.71% of their portfolio | 3.9m $310.7m | Reduced -59.3k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.05% of their portfolio | 3.8m $307.2m | Added +74.2k |
| FEDERATED HERMES, INC. 0.54% of their portfolio | 3.8m $303.9m | Added +1.2m |
| Bank of New York Mellon Corp 0.05% of their portfolio | 3.6m $287.2m | Added +24.3k |
| Capital Research Global Investors 0.05% of their portfolio | 3.5m $282.0m | Added +52.7k |
| AMERICAN CENTURY COMPANIES INC 0.14% of their portfolio | 3.4m $271.6m | Added +105.9k |
| MACQUARIE GROUP LTD 0.28% of their portfolio | 3.2m $238.7m | Added +1.5m |
| REAVES W H & CO INC 4.55% of their portfolio | 3.2m $255.2m | Added +647.8k |
| UBS Group AG 0.05% of their portfolio | 3.0m $241.7m | Added +592.4k |
| NORDEA INVESTMENT MANAGEMENT AB 0.21% of their portfolio | 3.0m $240.5m | Reduced -219.4k |
| AMERIPRISE FINANCIAL INC 0.05% of their portfolio | 2.9m $234.9m | Reduced -100.0k |
| Mitsubishi UFJ Trust & Banking Corp 0.44% of their portfolio | 2.5m $199.7m | Reduced -1.0m |
| PRINCIPAL FINANCIAL GROUP INC 0.10% of their portfolio | 2.5m $199.1m | Reduced -21.6k |
| Nuveen, LLC 0.05% of their portfolio | 2.5m $198.5m | Added +154.5k |
| Zimmer Partners, LP 4.83% of their portfolio | 2.5m $197.7m | Reduced -968.3k |
| Brookfield Corp /ON/ 0.23% of their portfolio | 2.4m $197.1m | Reduced -393.5k |
| RAYMOND JAMES FINANCIAL INC 0.06% of their portfolio | 2.4m $195.1m | Reduced -100.0k |
| DUFF & PHELPS INVESTMENT MANAGEMENT CO 2.16% of their portfolio | 2.4m $190.1m | Added +150.8k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.04% of their portfolio | 2.2m $181.3m | Reduced -728.7k |
| Russell Investments Group, Ltd. 0.20% of their portfolio | 2.2m $177.8m | Reduced -82.7k |
| Magellan Asset Management Ltd 2.03% of their portfolio | 2.1m $171.4m | Added +122.5k |
| FIRST TRUST ADVISORS LP 0.12% of their portfolio | 2.1m $167.9m | Reduced -38.6k |
| REGIONS FINANCIAL CORP 0.54% of their portfolio | 2.1m $166.8m | Added +1.0m |
| DIMENSIONAL FUND ADVISORS LP 0.04% of their portfolio | 2.0m $164.1m | Added +60.4k |
| CITIGROUP INC 0.11% of their portfolio | 2.0m $162.7m | Added +1.2m |
| MILLENNIUM MANAGEMENT LLC 0.13% of their portfolio | 2.0m $161.3m | Added +1.7m |
| CBRE INVESTMENT MANAGEMENT LISTED REAL ASSETS LLC 2.26% of their portfolio | 2.0m $158.8m | Added +449.3k |
| WELLS FARGO & COMPANY/MN 0.03% of their portfolio | 1.9m $152.6m | Added +24.9k |
| California Public Employees Retirement System 0.09% of their portfolio | 1.8m $145.3m | Reduced -364.5k |
| JENNISON ASSOCIATES LLC 0.08% of their portfolio | 1.8m $143.6m | Added +193.3k |
| Merewether Investment Management, LP 3.40% of their portfolio | 1.8m $142.3m | Added +818.8k |
| LPL Financial LLC 0.04% of their portfolio | 1.7m $137.5m | Added +54.4k |
| Electron Capital Partners, LLC 6.14% of their portfolio | 1.7m $135.6m | Reduced -47.3k |
| Swiss National Bank 0.08% of their portfolio | 1.7m $134.1m | Reduced -81.1k |
| Sumitomo Mitsui Trust Group, Inc. 0.07% of their portfolio | 1.5m $122.0m | Added +21.6k |
| BANK OF MONTREAL /CAN/ 0.05% of their portfolio | 1.4m $116.9m | Added +811.4k |
| Amundi 0.04% of their portfolio | 1.4m $112.9m | Added +460.1k |
| ENVESTNET ASSET MANAGEMENT INC 0.03% of their portfolio | 1.4m $112.1m | Reduced -17.4k |
| BNP PARIBAS FINANCIAL MARKETS 0.09% of their portfolio | 1.4m $109.2m | Added +644.3k |
| HSBC HOLDINGS PLC 0.06% of their portfolio | 1.3m $102.5m | Added +78.8k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.07% of their portfolio | 1.2m $99.3m | Added +69.2k |
| STIFEL FINANCIAL CORP 0.09% of their portfolio | 1.2m $96.1m | Reduced -47.6k |
| HITE Hedge Asset Management LLC 5.12% of their portfolio | 1.2m $94.3m | Added +341.7k |
| COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS 0.45% of their portfolio | 1.1m $90.0m | Added +5.1k |
| COHEN & STEERS, INC. 0.16% of their portfolio | 1.1m $89.0m | Reduced -2.0k |
| AQR CAPITAL MANAGEMENT LLC 0.06% of their portfolio | 1.1m $86.7m | Reduced -432.0k |
| JANUS HENDERSON GROUP PLC 0.04% of their portfolio | 1.1m $86.6m | Reduced -31.7k |
| SEI INVESTMENTS CO 0.09% of their portfolio | 1.0m $84.4m | Reduced -33.5k |
| RHUMBLINE ADVISERS 0.07% of their portfolio | 1.0m $81.8m | Reduced -13.4k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.06% of their portfolio | 1.0m $81.0m | Added +413.9k |
| Energy Income Partners, LLC 1.50% of their portfolio | 966.0k $77.9m | Added +6.8k |
| Point72 Asset Management, L.P. 0.17% of their portfolio | 959.6k $77.4m | New |
| Balyasny Asset Management L.P. 0.15% of their portfolio | 940.0k $75.8m | Reduced -776.4k |
| Brandywine Global Investment Management, LLC 0.50% of their portfolio | 911.8k $73.5m | Reduced -17.5k |
| Freestone Grove Partners LP 0.52% of their portfolio | 856.8k $69.1m | Added +253.0k |
| Aventail Capital Group, LP 3.24% of their portfolio | 845.5k $68.2m | Added +275.7k |
| MARSHALL WACE, LLP 0.07% of their portfolio | 786.0k $63.4m | Added +603.4k |
| VICTORY CAPITAL MANAGEMENT INC 0.04% of their portfolio | 757.2k $61.1m | Reduced -11.4k |
| ProShare Advisors LLC 0.13% of their portfolio | 747.2k $60.3m | Reduced -166.3k |
| ALLIANCEBERNSTEIN L.P. 0.02% of their portfolio | 716.9k $57.8m | Added +48.9k |
| VAUGHAN DAVID INVESTMENTS LLC/IL 1.24% of their portfolio | 710.7k $57.3m | Added +7.9k |
| Allianz Asset Management GmbH 0.07% of their portfolio | 697.9k $56.3m | Reduced -41.1k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.06% of their portfolio | 695.1k $56.1m | Added +2.1k |
| Verition Fund Management LLC 0.31% of their portfolio | 679.0k $54.8m | Added +514.9k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.04% of their portfolio | 671.7k $54.2m | Added +86.2k |
| Treasurer of the State of North Carolina 0.16% of their portfolio | 660.1k $53.2m | Reduced -3.9k |
| National Pension Service 0.04% of their portfolio | 651.4k $52.5m | Added +8.0k |
| ANCHOR CAPITAL ADVISORS LLC 1.51% of their portfolio | 644.9k $52.0m | Reduced -15.4k |
| Jefferies Financial Group Inc. 0.45% of their portfolio | 603.6k $48.7m | Added +539.6k |
| LAZARD ASSET MANAGEMENT LLC 0.06% of their portfolio | 579.7k $46.8m | Added +163.3k |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.07% of their portfolio | 560.3k $45.9m | Added +38.3k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.07% of their portfolio | 538.4k $43.4m | Added +10.2k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.08% of their portfolio | 537.0k $43.3m | Reduced -39.2k |
| GABELLI FUNDS LLC 0.29% of their portfolio | 535.7k $43.2m | Reduced -1.7k |
| OLD REPUBLIC INTERNATIONAL CORP 1.56% of their portfolio | 522.2k $42.1m | Unchanged |
| Hudson Bay Capital Management LP 0.25% of their portfolio | 513.5k $41.4m | Added +326.5k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.05% of their portfolio | 500.5k $40.4m | Reduced -202.9k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.06% of their portfolio | 456.0k $36.8m | Added +18.9k |