XP INC XP
CL A · Common Stock · CUSIP G98239109 · ISIN KYG982391099
Holding of stock exchange companies
* 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 ($11.6m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $16.27. Options: 21 managers hold calls ($215.3m notional), 14 hold puts ($28.4m).
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 200 |
| Q4 2022 | 198 |
| Q1 2023 | 192 |
| Q2 2023 | 225 |
| Q3 2023 | 258 |
| Q4 2023 | 301 |
| Q1 2024 | 299 |
| Q2 2024 | 268 |
| Q3 2024 | 293 |
| Q4 2024 | 295 |
| Q1 2025 | 297 |
| Q2 2025 | 314 |
| Q3 2025 | 328 |
| Q4 2025 | 343 |
| Q1 2026 | 359 |
| Q2 2026 | 321 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2024 | 175 | 137 |
| Q4 2024 | 166 | 145 |
| Q1 2025 | 182 | 133 |
| Q2 2025 | 185 | 139 |
| Q3 2025 | 184 | 153 |
| Q4 2025 | 175 | 160 |
| Q1 2026 | 208 | 143 |
| Q2 2026 | 145 | 205 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2025 | $113.0m | $114.1m | 1.01 |
| Q4 2025 | $205.7m | $64.5m | 0.31 |
| Q1 2026 | $288.6m | $18.1m | 0.06 |
| Q2 2026 | $215.3m | $28.4m | 0.13 |
Biggest buyers
| ARGA Investment Management, LP | Added | +3.9m |
| SPX Gestao de Recursos Ltda | Added | +3.6m |
| MARSHALL WACE, LLP | Added | +3.3m |
| BlackRock, Inc. | Added | +2.5m |
| Fourth Sail Capital LP | New | +1.5m |
| FRANKLIN RESOURCES INC | Added | +1.5m |
| Bridgewater Associates, LP | New | +1.3m |
| Itau Unibanco Holding S.A. | New | +1.1m |
| Sagil Capital LLP | New | +1.0m |
| VANGUARD PORTFOLIO MANAGEMENT LLC | Added | +858.6k |
Biggest sellers
| PRICE T ROWE ASSOCIATES INC /MD/ | Reduced | -5.4m |
| SQUADRA INVESTMENTS - GESTAO DE RECURSOS LTDA. | Sold out | -3.9m |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | Reduced | -2.9m |
| JENNISON ASSOCIATES LLC | Sold out | -1.4m |
| Think Investments LP | Sold out | -1.1m |
| FMR LLC | Reduced | -1.1m |
| Man Group plc | Reduced | -1.1m |
| Robeco Institutional Asset Management B.V. | Reduced | -951.4k |
| Navi International - Administradora e Gestora de Recursos Financeiros Ltda. | Reduced | -841.0k |
| Aware Super Pty Ltd as trustee of Aware Super | Sold out | -797.5k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $70.4m4.3m shares |
| ATMOS CAPITAL GESTAO DE RECURSOS LTDA. | Reduced | $35.6m2.2m shares |
| Optiver Holding B.V. | Reduced | $21.9m1.3m shares |
| FIL Ltd | Added | $21.8m1.3m shares |
| UBS Group AG | New | $16.3m1.0m shares |
| CITADEL ADVISORS LLC | Added | $11.0m679.0k shares |
| GOLDMAN SACHS GROUP INC | Reduced | $8.9m549.6k shares |
| JANE STREET GROUP, LLC | Reduced | $7.0m429.0k shares |
| IMC-Chicago, LLC | Added | $4.9m300.4k shares |
| GROUP ONE TRADING LLC | Added | $3.1m191.5k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $13.3m817.5k shares |
| JANE STREET GROUP, LLC | Added | $3.7m225.4k shares |
| UBS Group AG | New | $2.4m150.0k shares |
| CITADEL ADVISORS LLC | Added | $2.3m139.3k shares |
| IMC-Chicago, LLC | Added | $1.9m114.1k shares |
| GROUP ONE TRADING LLC | Added | $1.7m103.4k shares |
| GOLDMAN SACHS GROUP INC | Unchanged | $1.3m79.6k shares |
| Optiver Holding B.V. | New | $795.1k48.9k shares |
| Walleye Capital LLC | Added | $694.3k42.7k shares |
| BNP PARIBAS FINANCIAL MARKETS | Reduced | $243.9k150 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 |
|---|---|
XP Control LLC
13D · may seek influence
-0.9 pts · filed 2026-07-07
Stated purposeItem 4 of the Schedule 13D is hereby amended to add the following: On July 2, 2026, XP Control LLC exercised its Repurchase Right to purchase all of the non-voting interests in XP Control LLC held indirectly by Gabriel for 4,954,867 Class A common shares (resulting from the conversion of the corresponding number of Class B common shares of the Issuer held by XP Control LLC). As a result of XP Control LLC's transfer of the Class A common shares to Gabriel's investment vehicle, the Reporting Persons' beneficial ownership of the Class A common shares decreased from 101,752,469 Class A common shares to 96,797,602 Class A common shares. In addition, if the Repurchase Right is exercised in full, the Reporting Persons' beneficial ownership of the Class A common shares may be further decreased … Full filing |
18.7% |
| BlackRock, Inc. 13G · institution +1.1 pts · filed 2026-07-30 | 9.4% |
| DODGE & COX 13G · institution -2.0 pts · filed 2025-08-13 | 7.9% |
| ARGA Investment Management, LP 13G · institution new · filed 2026-08-13 | 5.9% |
| GENERAL ATLANTIC, L.P. 13D · may seek influence filed 2025-12-04 | 5.4% |
Fell to 5% or below in the last year: Capital World Investors (4.6%, 2026-05-14)
Insider purchases and sales since 1 Apr 2026
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 2024 | 0 | — | 0 | — | — |
| Q1 2025 | 0 | — | 0 | — | — |
| Q2 2025 | 0 | — | 0 | — | — |
| Q3 2025 | 0 | — | 0 | — | — |
| Q4 2025 | 0 | — | 0 | — | — |
| Q1 2026 | 0 | — | 0 | — | — |
| Q2 2026 | 0 | — | 0 | — | — |
| Q3 2026 | 0 | — | 1 | $2.4m | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2026-09-16 | Dos Santos Bruno Constantino Alexandre Director · By LLC | Sold | $2.4m123.3k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q2 2026
| Manager | Shares | Change |
|---|---|---|
| BlackRock, Inc. 0.01% of their portfolio | 49.0m $796.7m | Added +2.5m |
| Dodge & Cox 0.28% of their portfolio | 32.6m $529.5m | Reduced -162.4k |
| ARGA Investment Management, LP 10.22% of their portfolio | 24.6m $400.7m | Added +3.9m |
| GENERAL ATLANTIC, L.P. 11.50% of their portfolio | 20.6m $334.4m | Unchanged |
| Capital World Investors 0.04% of their portfolio | 19.4m $315.0m | Added +267.4k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.07% of their portfolio | 12.6m $205.5m | Added +227.7k |
| STATE STREET CORP 0.00% of their portfolio | 9.7m $157.7m | Reduced -68.2k |
| Ninety One UK Ltd 0.29% of their portfolio | 8.1m $131.0m | Added +2.9k |
| FMR LLC 0.01% of their portfolio | 8.0m $129.7m | Reduced -1.1m |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.05% of their portfolio | 7.0m $114.3m | Reduced -632.3k |
| MARSHALL WACE, LLP 0.09% of their portfolio | 6.5m $106.2m | Added +3.3m |
| MORGAN STANLEY 0.01% of their portfolio | 6.5m $105.5m | Added +509.0k |
| Capital Research Global Investors 0.01% of their portfolio | 5.0m $81.9m | Added +36.9k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 4.8m $78.4m | Added +71.5k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 4.8m $78.6m | Reduced -315.7k |
| SPX Gestao de Recursos Ltda 8.72% of their portfolio | 4.8m $78.3m | Added +3.6m |
| FRANKLIN RESOURCES INC 0.02% of their portfolio | 4.5m $72.7m | Added +1.5m |
| Fisher Asset Management, LLC 0.02% of their portfolio | 4.1m $66.8m | Reduced -295.1k |
| Seafarer Capital Partners, LLC 14.65% of their portfolio | 3.9m $63.6m | Added +140.0k |
| NORGES BANK 0.01% of their portfolio | 3.7m $60.5m | Not comparable |
| AMERICAN CENTURY COMPANIES INC 0.02% of their portfolio | 3.2m $51.5m | Added +186.1k |
| OAKTREE CAPITAL MANAGEMENT LP 0.95% of their portfolio | 3.1m $50.7m | Reduced -55.2k |
| VANGUARD PORTFOLIO MANAGEMENT LLC 0.00% of their portfolio | 3.1m $49.6m | Added +858.6k |
| Legal & General Group Plc 0.01% of their portfolio | 2.8m $45.6m | Reduced -9.4k |
| NORTHERN TRUST CORP 0.01% of their portfolio | 2.8m $45.4m | Added +145.6k |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.03% of their portfolio | 2.7m $44.3m | Added +776.7k |
| BAMCO INC /NY/ 0.06% of their portfolio | 2.6m $42.8m | Reduced -40.3k |
| ATMOS CAPITAL GESTAO DE RECURSOS LTDA. 4.25% of their portfolio | 2.1m $33.9m | Reduced -299.7k |
| BANK OF MONTREAL /CAN/ 0.01% of their portfolio | 2.0m $32.2m | Added +168.1k |
| Russell Investments Group, Ltd. 0.03% of their portfolio | 1.9m $30.9m | Reduced -58.5k |
| Assenagon Asset Management S.A. 0.02% of their portfolio | 1.9m $30.8m | Reduced -35.5k |
| Navi International - Administradora e Gestora de Recursos Financeiros Ltda. 21.05% of their portfolio | 1.8m $29.9m | Reduced -841.0k |
| Ninety One North America, Inc. 1.39% of their portfolio | 1.8m $29.6m | Reduced -102.6k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.04% of their portfolio | 1.8m $28.7m | Added +249.0k |
| UBS Group AG 0.00% of their portfolio | 1.7m $28.0m | Added +251.3k |
| Man Group plc 0.05% of their portfolio | 1.7m $28.0m | Reduced -1.1m |
| SEI INVESTMENTS CO 0.02% of their portfolio | 1.7m $27.1m | Added +40.4k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 1.6m $25.7m | Added +83.7k |
| FEDERATED HERMES, INC. 0.04% of their portfolio | 1.5m $25.1m | Reduced -49.9k |
| Praetorian PR LLC 7.90% of their portfolio | 1.5m $24.8m | Added +525.0k |
| Fourth Sail Capital LP 3.70% of their portfolio | 1.5m $24.4m | New |
| Nuveen, LLC 0.01% of their portfolio | 1.4m $23.5m | Added +22.6k |
| DEUTSCHE BANK AG\ 0.01% of their portfolio | 1.3m $21.7m | Reduced -363.3k |
| Bridgewater Associates, LP 0.08% of their portfolio | 1.3m $20.4m | New |
| CITADEL ADVISORS LLC 0.01% of their portfolio | 1.2m $20.3m | Added +485.6k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 1.2m $20.1m | Added +38.9k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.02% of their portfolio | 1.2m $19.9m | Added +75.4k |
| Amundi 0.00% of their portfolio | 1.2m $18.8m | Reduced -3.7k |
| Itau Unibanco Holding S.A. 0.36% of their portfolio | 1.1m $18.3m | New |
| CITIGROUP INC 0.01% of their portfolio | 1.1m $17.3m | Reduced -62.5k |
| HSBC HOLDINGS PLC 0.01% of their portfolio | 1.1m $17.1m | Reduced -10.3k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 1.0m $16.4m | Added +560.3k |
| Sagil Capital LLP 7.94% of their portfolio | 1.0m $16.3m | New |
| Optiver Holding B.V. 0.23% of their portfolio | 985.2k $16.0m | Reduced -589.6k |
| Sumitomo Mitsui Trust Group, Inc. 0.01% of their portfolio | 895.4k $14.6m | Added +23.9k |
| VANGUARD ASSET MANAGEMENT, Ltd 0.01% of their portfolio | 791.0k $12.9m | Reduced -1.8k |
| BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio | 780.9k $12.7m | Reduced -255.8k |
| Swiss National Bank 0.01% of their portfolio | 772.8k $12.6m | Reduced -2.5k |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.04% of their portfolio | 761.2k $12.4m | Added +60.8k |
| California Public Employees Retirement System 0.01% of their portfolio | 754.7k $12.3m | Added +10.5k |
| FIL Ltd 0.01% of their portfolio | 719.5k $11.7m | Reduced -406.8k |
| Robeco Institutional Asset Management B.V. 0.01% of their portfolio | 704.8k $11.5m | Reduced -951.4k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.01% of their portfolio | 693.5k $11.3m | Added +170.9k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 685.4k $11.1m | Added +103.6k |
| THORNBURG INVESTMENT MANAGEMENT INC 0.10% of their portfolio | 671.5k $10.9m | Added +101.5k |
| JGP Global Gestao de Recursos Ltda. 23.86% of their portfolio | 657.2k $10.7m | Added +397.7k |
| Mitsubishi UFJ Trust & Banking Corp 0.02% of their portfolio | 614.5k $10.0m | Reduced -111.8k |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC 0.19% of their portfolio | 613.4k $10.0m | Added +321.9k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.04% of their portfolio | 597.7k $9.7m | Reduced -549.7k |
| LOS ANGELES CAPITAL MANAGEMENT LLC 0.04% of their portfolio | 591.9k $9.6m | Added +338.1k |
| Treasurer of the State of North Carolina 0.02% of their portfolio | 567.2k $9.2m | Added +75.1k |
| Invesco Ltd. 0.00% of their portfolio | 556.0k $9.0m | Reduced -289.1k |
| Pictet Asset Management Holding SA 0.01% of their portfolio | 535.6k $8.7m | Added +3.4k |
| VOYA INVESTMENT MANAGEMENT LLC 0.01% of their portfolio | 522.3k $8.5m | Added +174.4k |
| Rheos Capital Works Inc. 0.46% of their portfolio | 500.0k $8.1m | Unchanged |
| Sustainable Growth Advisers, LP 0.08% of their portfolio | 489.8k $8.0m | Reduced -206.7k |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 474.0k $7.6m | Added +7.9k |
| Endure Capital Management, LLC 4.88% of their portfolio | 462.0k $7.5m | New |
| Point72 Asset Management, L.P. 0.01% of their portfolio | 454.0k $7.4m | Reduced -178.8k |
| GAM Holding AG 0.49% of their portfolio | 394.3k $6.4m | Added +58.8k |
| Crossmark Global Holdings, Inc. 0.08% of their portfolio | 389.1k $6.3m | Reduced -260.9k |
| ROYAL LONDON ASSET MANAGEMENT LTD 0.01% of their portfolio | 385.6k $6.3m | Reduced -3.0k |
| EARNEST PARTNERS LLC 0.02% of their portfolio | 377.1k $6.1m | Added +5.3k |
| Allianz Asset Management GmbH 0.01% of their portfolio | 368.8k $6.0m | New |
| VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 368.4k $6.0m | Added +26.1k |
| LAZARD ASSET MANAGEMENT LLC 0.01% of their portfolio | 360.9k $5.9m | Added +154.2k |
| STOREBRAND ASSET MANAGEMENT AS 0.01% of their portfolio | 355.0k $5.8m | Added +62.6k |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 354.9k $5.8m | Reduced -16.5k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 353.1k $6.7m | Reduced -379.6k |
| Connor, Clark & Lunn Investment Management Ltd. 0.01% of their portfolio | 348.6k $5.7m | Added +264.2k |
| NORDEA INVESTMENT MANAGEMENT AB 0.00% of their portfolio | 340.7k $5.5m | Reduced -11.0k |
| Public Sector Pension Investment Board 0.01% of their portfolio | 326.4k $5.3m | Added +6.5k |
| ASSETMARK, INC 0.01% of their portfolio | 322.9k $5.3m | Reduced -4.5k |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 314.3k $5.1m | Reduced -171.4k |
| Walleye Trading LLC 0.07% of their portfolio | 304.1k $4.9m | Reduced -281.2k |
| AVIVA PLC 0.01% of their portfolio | 300.7k $4.9m | Added +7.5k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.01% of their portfolio | 286.2k $4.7m | Reduced -9.4k |
| TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio | 280.1k $4.6m | Reduced -375.9k |
| Quantinno Capital Management LP 0.01% of their portfolio | 276.4k $4.5m | Added +67.1k |
| KBC Group NV 0.01% of their portfolio | 271.1k $4.4m | Reduced -32.6k |