Who owns XTWO
Which tracked institutional funds hold XTWO, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See XTWO company fundamentals →
Ownership as of the 2026-Q1 13F filings (latest filed 2026-05-18). 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
5 tracked funds added or opened XTWO while 10 trimmed or exited it between 2025-Q4 and 2026-Q1 — the tape is split. When large holders disagree on a name, the funds moving first are sometimes ahead of the story.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
XTWO’s largest tracked holder by dollar value, Municipal Employees' Retirement System of Michigan, sizes it at 0.2% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 0.2pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in XTWO divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2025-Q4 and 2026-Q1, across 35 tracked filers holding XTWO, 18 increased or opened the position and 26 reduced or closed it; over the same quarter, there were no open-market insider Form 4s.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in XTWO between the 2025-Q4 and 2026-Q1 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 2
- ARVEST INVESTMENTS, INC.$6M
- OLD MISSION CAPITAL LLC$1M
Full exits 6
- Municipal Employees' Retirement System of Michigan$21M
- Orion Porfolio Solutions, LLC$2M
- Oasis Advisors, LLC$2M
- Coppell Advisory Solutions LLC$1M
- SUSQUEHANNA INTERNATIONAL GROUP, LLP$1M
- GOLDMAN SACHS GROUP INC$671K
Largest adds
- Nemes Rush Group LLC$3M
- Teucrium Investment Advisors, LLC$515K
- BANK OF AMERICA CORP /DE/$411K
Largest trims
- STAR Financial Bank$7M
- Legacy CG, LLC$1M
- Amplius Wealth Advisors, LLC$547K
- CITADEL ADVISORS LLC$354K
Institutional holders
One row per tracked fund, largest reported value first. “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding. Rows marked stale are from an earlier filing than the security’s latest quarter — that fund is absent from the newest snapshot (position exited, or reported under a different name).
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| Focus Partners Wealth added | 311,433 | $15M | 12.6% | 2026-Q1 |
| Nemes Rush Group LLC added | 297,279 | $15M | 12.0% | 2026-Q1 |
| Thrivent Financial for Lutherans added | 247,282 | $12M | 10.0% | 2026-Q1 |
| Legacy CG, LLC trimmed | 192,218 | $9M | 7.7% | 2026-Q1 |
| ARVEST INVESTMENTS, INC. new | 122,040 | $6M | 4.9% | 2026-Q1 |
| BANK OF AMERICA CORP /DE/ added | 76,857 | $4M | 3.1% | 2026-Q1 |
| Lido Advisors, LLC trimmed | 71,149 | $4M | 2.9% | 2026-Q1 |
| STAR Financial Bank trimmed | 63,533 | $3M | 2.6% | 2026-Q1 |
| Amplius Wealth Advisors, LLC trimmed | 49,094 | $2M | 2.0% | 2026-Q1 |
| Strait & Sound Wealth Management LLC added | 45,557 | $2M | 1.8% | 2026-Q1 |
| MORGAN STANLEY trimmed | 36,792 | $2M | 1.5% | 2026-Q1 |
| Teucrium Investment Advisors, LLC added | 26,594 | $1M | 1.1% | 2026-Q1 |
| Mutual Advisors, LLC added | 24,232 | $1M | 1.0% | 2026-Q1 |
| OLD MISSION CAPITAL LLC new | 21,067 | $1M | 0.8% | 2026-Q1 |
| JANE STREET GROUP, LLC added | 17,708 | $873K | 0.7% | 2026-Q1 |
| IFP Advisors, Inc trimmed | 15,400 | $759K | 0.6% | 2026-Q1 |
| Cetera Investment Advisers trimmed | 13,376 | $659K | 0.5% | 2026-Q1 |
| Astoria Portfolio Advisors LLC. trimmed | 13,006 | $641K | 0.5% | 2026-Q1 |
| Janney Montgomery Scott LLC added | 12,476 | $615K | 0.5% | 2026-Q1 |
| ROTHSCHILD INVESTMENT LLC | 12,365 | $610K | 0.5% | 2026-Q1 |
| Vermillion & White Wealth Management Group, LLC added | 11,206 | $554K | 0.5% | 2026-Q1 |
| ZEGA Investments, LLC trimmed | 9,453 | $466K | 0.4% | 2026-Q1 |
| CWM, LLC added | 9,179 | $452K | 0.4% | 2026-Q1 |
| ENVESTNET ASSET MANAGEMENT INC added | 8,033 | $396K | 0.3% | 2026-Q1 |
| StoneX Group Inc. added | 7,362 | $363K | 0.3% | 2026-Q1 |
| Global Assets Advisory, LLC added | 6,067 | $299K | 0.2% | 2026-Q1 |
| Tandem Investment Partners LLC trimmed | 5,995 | $296K | 0.2% | 2026-Q1 |
| Aptus Capital Advisors, LLC trimmed | 5,791 | $285K | 0.2% | 2026-Q1 |
| Financial Guidance Group, Inc. trimmed | 5,791 | $285K | 0.2% | 2026-Q1 |
| CITADEL ADVISORS LLC trimmed | 5,456 | $269K | 0.2% | 2026-Q1 |
| TRUIST FINANCIAL CORP added | 5,449 | $269K | 0.2% | 2026-Q1 |
| OSAIC HOLDINGS, INC. | 4,076 | $201K | 0.2% | 2026-Q1 |
| ROYAL BANK OF CANADA | 1,300 | $64K | 0.1% | 2026-Q1 |
| Bank of Jackson Hole Trust | 202 | $10K | 0.0% | 2026-Q1 |
| AE Wealth Management LLC added | 186 | $9K | 0.0% | 2026-Q1 |
| Municipal Employees' Retirement System of Michigan | 416,558 | $21M | 16.8% | 2025-Q4 stale |
| Exchange Capital Management, Inc. trimmed | 57,821 | $3M | 2.3% | 2025-Q2 stale |
| Orion Porfolio Solutions, LLC added | 47,410 | $2M | 1.9% | 2025-Q4 stale |
| Oasis Advisors, LLC new | 46,121 | $2M | 1.9% | 2025-Q4 stale |
| Coppell Advisory Solutions LLC added | 27,005 | $1M | 1.1% | 2025-Q4 stale |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP trimmed | 20,980 | $1M | 0.8% | 2025-Q4 stale |
| Freedom Investment Management, Inc. trimmed | 14,145 | $701K | 0.6% | 2025-Q2 stale |
| GOLDMAN SACHS GROUP INC new | 13,570 | $671K | 0.5% | 2025-Q4 stale |
| Crew Capital Management, Ltd. added | 10,906 | $540K | 0.4% | 2025-Q1 stale |
| Sunbelt Securities, Inc. | 10,130 | $497K | 0.4% | 2025-Q2 stale |
| Holcombe Financial, Inc. added | 6,540 | $324K | 0.3% | 2025-Q3 stale |
| COMMONWEALTH EQUITY SERVICES, LLC added | 5,646 | $279K | 0.2% | 2025-Q1 stale |
| World Investment Advisors trimmed | 5,152 | $255K | 0.2% | 2025-Q4 stale |
| C2P Capital Advisory Group, LLC d.b.a. Prosperity Capital Advisors added | 5,085 | $252K | 0.2% | 2025-Q3 stale |
| Kovitz Investment Group Partners, LLC trimmed | 5,000 | $248K | 0.2% | 2025-Q3 stale |
| LPL Financial LLC trimmed | 4,731 | $234K | 0.2% | 2025-Q4 stale |
| FLOW TRADERS U.S. LLC trimmed | 4,682 | $232K | 0.2% | 2025-Q4 stale |
| Allen Capital Group, LLC new | 4,626 | $229K | 0.2% | 2025-Q4 stale |
| Sigma Planning Corp trimmed | 4,311 | $213K | 0.2% | 2025-Q4 stale |
| Meridian Wealth Management, LLC new | 4,055 | $201K | 0.2% | 2025-Q1 stale |
| Global Retirement Partners, LLC added | 2,466 | $122K | 0.1% | 2025-Q4 stale |
| Pineridge Advisors LLC added | 1,758 | $87K | 0.1% | 2025-Q3 stale |
| JPMORGAN CHASE & CO trimmed | 1,396 | $69K | 0.1% | 2025-Q2 stale |
| UBS Group AG added | 1,062 | $53K | 0.0% | 2025-Q4 stale |
| Steward Partners Investment Advisory, LLC | 1,037 | $51K | 0.0% | 2025-Q1 stale |
| Tower Research Capital LLC (TRC) new | 945 | $47K | 0.0% | 2025-Q3 stale |
| MAI Capital Management | 238 | $12K | 0.0% | 2025-Q2 stale |
| RAYMOND JAMES FINANCIAL INC new | 75 | $4K | 0.0% | 2025-Q2 stale |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | 0 | — | 0.0% | 2025-Q2 stale |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.