# X-Square Capital, LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1729300. Source: https://holderbook.com/funds/1729300-x-square-capital-llc/

- Reported value: $394.1M
- Positions: 176
- Weight of the ten largest: 34.8%
- Filed: 2026-08-12

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| AST SPACEMOBILE INC | [ASTS](https://holderbook.com/stocks/ASTS/) | $22.4M | 251,520 | 5.7% | 5 |
| ADVANCED MICRO DEVICES INC | [AMD](https://holderbook.com/stocks/AMD/) | $21.4M | 36,872 | 5.4% | 31 |
| MICRON TECHNOLOGY INC | [MU](https://holderbook.com/stocks/MU/) | $16.2M | 14,017 | 4.1% | 31 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $15.6M | 20,879 | 4.0% | 25 |
| IREN LIMITED | [IREN](https://holderbook.com/stocks/IREN/) | $14.8M | 322,645 | 3.7% | 3 |
| HIMS & HERS HEALTH INC | [HIMS](https://holderbook.com/stocks/HIMS/) | $14.8M | 425,519 | 3.7% | 9 |
| APPLOVIN CORP | [APP](https://holderbook.com/stocks/APP/) | $11.0M | 21,343 | 2.8% | 8 |
| VISTA ENERGY S.A.B. DE C.V. | [VIST](https://holderbook.com/stocks/VIST/) | $8.7M | 136,988 | 2.2% | 1 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $6.3M | 11,098 | 1.6% | 31 |
| SUNCOR ENERGY INC NEW | [SU](https://holderbook.com/stocks/SU/) | $6.2M | 114,749 | 1.6% | 21 |
| UNITED RENTALS INC | [URI](https://holderbook.com/stocks/URI/) | $5.9M | 5,181 | 1.5% | 24 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $5.8M | 24,253 | 1.5% | 31 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $5.6M | 27,839 | 1.4% | 26 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $5.3M | 10,606 | 1.3% | 31 |
| NU HLDGS LTD | [NU](https://holderbook.com/stocks/NU/) | $5.2M | 391,437 | 1.3% | 2 |
| TJX COS INC NEW | [TJX](https://holderbook.com/stocks/TJX/) | $5.1M | 33,786 | 1.3% | 11 |
| MERCADOLIBRE INC | [MELI](https://holderbook.com/stocks/MELI/) | $5.1M | 3,002 | 1.3% | 25 |
| PETROLEO BRASILEIRO S A | [PBR](https://holderbook.com/stocks/PBR/) | $5.0M | 309,923 | 1.3% | 1 |
| DUOLINGO INC | [DUOL](https://holderbook.com/stocks/DUOL/) | $5.0M | 43,186 | 1.3% | 5 |
| XPO INC | [XPO](https://holderbook.com/stocks/XPO/) | $4.9M | 24,078 | 1.3% | 19 |
| SERVICENOW INC | [NOW](https://holderbook.com/stocks/NOW/) | $4.9M | 49,555 | 1.2% | 1 |
| GENERAC HLDGS INC | [GNRC](https://holderbook.com/stocks/GNRC/) | $4.7M | 15,965 | 1.2% | 13 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $4.2M | 12,742 | 1.1% | 31 |
| GENERAL DYNAMICS CORP | [GD](https://holderbook.com/stocks/GD/) | $4.1M | 11,669 | 1.0% | 31 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $4.1M | 11,690 | 1.0% | 31 |
| AMGEN INC | [AMGN](https://holderbook.com/stocks/AMGN/) | $4.0M | 10,908 | 1.0% | 28 |
| SUPER MICRO COMPUTER INC | [SMCI](https://holderbook.com/stocks/SMCI/) | $3.8M | 128,600 | 1.0% | 7 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $3.8M | 14,964 | 1.0% | 15 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $3.8M | 25,700 | 1.0% | 8 |
| BOOKING HOLDINGS INC | [BKNG](https://holderbook.com/stocks/BKNG/) | $3.4M | 18,910 | 0.9% | 10 |
| PHILIP MORRIS INTL INC | [PM](https://holderbook.com/stocks/PM/) | $3.3M | 18,412 | 0.8% | 31 |
| EXPEDIA GROUP INC | [EXPE](https://holderbook.com/stocks/EXPE/) | $3.2M | 12,664 | 0.8% | 10 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $3.1M | 10,842 | 0.8% | 31 |
| TRANSDIGM GROUP INC | [TDG](https://holderbook.com/stocks/TDG/) | $3.1M | 2,313 | 0.8% | 10 |
| ISHARES BITCOIN TRUST ETF | [IBIT](https://holderbook.com/stocks/IBIT/) | $3.1M | 92,310 | 0.8% | 10 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $2.9M | 6,978 | 0.7% | 10 |
| CROCS INC | [CROX](https://holderbook.com/stocks/CROX/) | $2.9M | 24,293 | 0.7% | 7 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $2.9M | 7,640 | 0.7% | 31 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $2.8M | 3,795 | 0.7% | 11 |
| VALE S A | [VALE](https://holderbook.com/stocks/VALE/) | $2.7M | 179,109 | 0.7% | 21 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $2.6M | 2,782 | 0.7% | 31 |
| COPART INC | [CPRT](https://holderbook.com/stocks/CPRT/) | $2.6M | 90,655 | 0.6% | 25 |
| ASML HLDG NV | [ASML](https://holderbook.com/stocks/ASML/) | $2.5M | 1,264 | 0.6% | 7 |
| PEABODY ENGR CORP | [BTU](https://holderbook.com/stocks/BTU/) | $2.5M | 106,829 | 0.6% | 2 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $2.5M | 21,632 | 0.6% | 28 |
| OFG BANCORP | [OFG](https://holderbook.com/stocks/OFG/) | $2.4M | 49,081 | 0.6% | 31 |
| FIRST BANCORP CORPORATION | [FBP](https://holderbook.com/stocks/FBP/) | $2.4M | 92,096 | 0.6% | 31 |
| OREILLY AUTOMOTIVE INC | [ORLY](https://holderbook.com/stocks/ORLY/) | $2.2M | 23,832 | 0.6% | 10 |
| XSQUARE SER TR | [ZTAX](https://holderbook.com/stocks/ZTAX/) | $2.2M | 86,277 | 0.6% | 11 |
| CHIPOTLE MEXICAN GRILL INC | [CMG](https://holderbook.com/stocks/CMG/) | $2.1M | 62,891 | 0.5% | 13 |
| ROSS STORES INC | [ROST](https://holderbook.com/stocks/ROST/) | $2.1M | 9,935 | 0.5% | 2 |
| ALTRIA GROUP INC | [MO](https://holderbook.com/stocks/MO/) | $2.1M | 29,313 | 0.5% | 31 |
| PAYPAL HLDGS INC | [PYPL](https://holderbook.com/stocks/PYPL/) | $2.0M | 47,465 | 0.5% | 31 |
| TEXAS PACIFIC LAND CORPORATI | [TPL](https://holderbook.com/stocks/TPL/) | $2.0M | 4,677 | 0.5% | 22 |
| RTX CORPORATION | [RTX](https://holderbook.com/stocks/RTX/) | $2.0M | 10,718 | 0.5% | 25 |
| COMFORT SYS USA INC | [FIX](https://holderbook.com/stocks/FIX/) | $2.0M | 1,020 | 0.5% | 9 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $1.9M | 14,171 | 0.5% | 5 |
| TEVA PHARMACEUTICAL INDS LTD | [TEVA](https://holderbook.com/stocks/TEVA/) | $1.9M | 56,230 | 0.5% | 26 |
| DOLLAR GEN CORP | [DG](https://holderbook.com/stocks/DG/) | $1.9M | 16,467 | 0.5% | 24 |
| NORTHROP GRUMMAN CORP | [NOC](https://holderbook.com/stocks/NOC/) | $1.9M | 3,655 | 0.5% | 10 |
| YPF SOCIEDAD ANONIMA | [YPF](https://holderbook.com/stocks/YPF/) | $1.8M | 40,000 | 0.5% | 1 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $1.8M | 7,053 | 0.5% | 31 |
| QXO INC | [QXO](https://holderbook.com/stocks/QXO/) | $1.8M | 103,533 | 0.5% | 6 |
| VALERO ENERGY CORP | [VLO](https://holderbook.com/stocks/VLO/) | $1.7M | 6,668 | 0.4% | 31 |
| BJS WHSL CLUB HLDGS INC | [BJ](https://holderbook.com/stocks/BJ/) | $1.7M | 19,492 | 0.4% | 10 |
| OCCIDENTAL PETE CORP | [OXY](https://holderbook.com/stocks/OXY/) | $1.7M | 34,766 | 0.4% | 10 |
| LENNAR CORP | [LEN](https://holderbook.com/stocks/LEN/) | $1.7M | 18,496 | 0.4% | 25 |
| ONDAS INC | [ONDS](https://holderbook.com/stocks/ONDS/) | $1.6M | 200,000 | 0.4% | 1 |
| FASTENAL CO | [FAST](https://holderbook.com/stocks/FAST/) | $1.6M | 33,869 | 0.4% | 24 |
| STRIVE INC | [ASST](https://holderbook.com/stocks/ASST/) | $1.6M | 148,124 | 0.4% | 2 |
| DOMINOS PIZZA INC | [DPZ](https://holderbook.com/stocks/DPZ/) | $1.6M | 5,438 | 0.4% | 24 |
| COCA-COLA FEMSA SAB DE CV | [KOF](https://holderbook.com/stocks/KOF/) | $1.6M | 14,630 | 0.4% | 3 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $1.5M | 3,582 | 0.4% | 4 |
| RH | [RH](https://holderbook.com/stocks/RH/) | $1.5M | 8,939 | 0.4% | 18 |
| ISHARES INC | [EWZ](https://holderbook.com/stocks/EWZ/) | $1.5M | 42,186 | 0.4% | 22 |
| PULTE GROUP INC | [PHM](https://holderbook.com/stocks/PHM/) | $1.4M | 10,467 | 0.4% | 25 |
| FERRARI N V | [RACE](https://holderbook.com/stocks/RACE/) | $1.4M | 3,759 | 0.4% | 3 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $1.4M | 4,073 | 0.4% | 3 |
| FORTINET INC | [FTNT](https://holderbook.com/stocks/FTNT/) | $1.4M | 9,035 | 0.4% | 21 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $1.3M | 16,582 | 0.3% | 25 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $1.3M | 3,744 | 0.3% | 24 |
| LULULEMON ATHLETICA INC | [LULU](https://holderbook.com/stocks/LULU/) | $1.3M | 11,170 | 0.3% | 8 |
| CHUBB LIMITED | [CB](https://holderbook.com/stocks/CB/) | $1.3M | 3,714 | 0.3% | 21 |
| LOCKHEED MARTIN CORP | [LMT](https://holderbook.com/stocks/LMT/) | $1.3M | 2,472 | 0.3% | 31 |
| GARMIN LTD | [GRMN](https://holderbook.com/stocks/GRMN/) | $1.2M | 5,176 | 0.3% | 28 |
| BRASKEM S A | [BAK](https://holderbook.com/stocks/BAK/) | $1.2M | 500,900 | 0.3% | 11 |
| SELECT SECTOR SPDR TR | [XLE](https://holderbook.com/stocks/XLE/) | $1.2M | 22,703 | 0.3% | 25 |
| MONGODB INC | [MDB](https://holderbook.com/stocks/MDB/) | $1.2M | 3,545 | 0.3% | 1 |
| SHOPIFY INC | [SHOP](https://holderbook.com/stocks/SHOP/) | $1.2M | 10,357 | 0.3% | 25 |
| VANGUARD INDEX FDS | [VTV](https://holderbook.com/stocks/VTV/) | $1.1M | 5,242 | 0.3% | 11 |
| LEMONADE INC | [LMND](https://holderbook.com/stocks/LMND/) | $1.1M | 17,333 | 0.3% | 5 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $1.1M | 8,193 | 0.3% | 18 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $1.1M | 19,559 | 0.3% | 31 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $1.1M | 2,968 | 0.3% | 21 |
| ALLY FINL INC | [ALLY](https://holderbook.com/stocks/ALLY/) | $1.1M | 23,075 | 0.3% | 26 |
| VALARIS LTD | [VAL](https://holderbook.com/stocks/VAL/) | $1.0M | 14,190 | 0.3% | 3 |
| EMCOR GROUP INC | [EME](https://holderbook.com/stocks/EME/) | $1.0M | 1,221 | 0.3% | 9 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $1.0M | 2,121 | 0.3% | 14 |
| CUMMINS INC | [CMI](https://holderbook.com/stocks/CMI/) | $1.0M | 1,408 | 0.3% | 8 |
| FREEPORT-MCMORAN INC | [FCX](https://holderbook.com/stocks/FCX/) | $973.0K | 15,478 | 0.2% | 21 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +20.1% | +14.8% | +5.3% | 99% |
| Q1 2026 | -3.5% | -4.6% | +1.1% | 99% |
| Q4 2025 | +0.6% | +2.4% | -1.8% | 100% |
| Q3 2025 | +12.7% | +7.8% | +4.9% | 99% |
| Q2 2025 | +12.7% | +10.5% | +2.3% | 99% |
| Q1 2025 | -4.8% | -4.6% | -0.2% | 99% |
| Q4 2024 | +2.7% | +2.1% | +0.5% | 99% |
| Q3 2024 | +4.6% | +5.4% | -0.8% | 99% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $394.1M | 176 |
| Q1 2026 | $296.7M | 164 |
| Q4 2025 | $305.2M | 160 |
| Q3 2025 | $320.2M | 162 |
| Q2 2025 | $278.1M | 160 |
| Q1 2025 | $232.6M | 154 |
| Q4 2024 | $243.3M | 163 |
| Q3 2024 | $227.6M | 161 |
| Q2 2024 | $215.7M | 157 |
| Q1 2024 | $211.0M | 153 |
| Q4 2023 | $181.2M | 155 |
| Q3 2023 | $148.8M | 142 |