X-Square Capital, LLC

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 5, 2025), X-Square Capital, LLC reported 160 stock positions worth $278.1 million. Its top holding was Hims & Hers Health (HIMS) at 4.2% of the portfolio, followed by SS SPDR S&P 500 ETF Trust-US (SPY, 3.7%) and Strategy (MSTR, 3.7%). Compared with Q1 2025, it opened 19 new positions, sold out of 13, added to 71 and reduced 48. The biggest buy was Hims & Hers Health (HIMS, shares +53%) and the biggest sale iShares Bitcoin Trust ETF (IBIT, shares −48%).

Most Recent 13F
Q2 2026
Location
GUAYNABO, PR
CIK
0001729300
Portfolio Value
$278.1M (Q2 2025)
SEC Filing
0001729300-25-000003 ↗ filed Aug 5, 2025

Holdings Value

0$100.0M$200.0M$300.0M$400.0M Q1 2024: $211.0M Q1 2024 Q2 2024: $276.3M Q2 2024 Q3 2024: $295.9M Q3 2024 Q4 2024: $243.3M Q4 2024 Q1 2025: $232.6M Q1 2025 Q2 2025: $278.1M $278.1M Q2 2025 Q3 2025: $320.2M Q3 2025 Q4 2025: $305.2M Q4 2025 Q1 2026: $296.7M Q1 2026 Q2 2026: $394.1M Q2 2026

Holdings 160 stocks · $278.1M
HIMS Hims & Hers Health Inc. 4.22% 235,290 $11.7M Add +53.3%
SPY SS SPDR S&P 500 ETF Trust-US 3.69% 16,622 $10.3M Add +6.5%
MSTR Strategy Inc. filed as MICROSTRATEGY INC 3.67% 25,257 $10.2M Add +70.0%
IBIT iShares Bitcoin Trust ETF 2.85% 129,466 $7.9M Reduce -48.3%
META Meta Platforms Inc. Class A 2.78% 10,491 $7.7M Reduce -0.7%
OFG Ofg Bancorp 2.56% 166,404 $7.1M Reduce -0.4%
JPM JPMorgan Chase & Co. 2.30% 22,100 $6.4M Reduce -0.5%
IREN Iren Ltd. filed as IREN LIMITED 2.28% 435,951 $6.4M Add +129.9%
FBP First Bancorp Puerto Rico 2.23% 297,284 $6.2M Reduce -0.5%
BRK.B Berkshire Hathaway Inc. Class B 1.91% 10,915 $5.3M Reduce -0.1%
MELI MercadoLibre Inc. 1.75% 1,864 $4.9M Reduce -0.5%
MU Micron Technology Inc. 1.70% 38,240 $4.7M Reduce -0.1%
NVDA Nvidia Corp. 1.66% 29,253 $4.6M Reduce -1.2%
AMZN Amazon.com Inc. 1.66% 21,034 $4.6M Add +0.6%
AMD Advanced Micro Devices 1.63% 31,848 $4.5M Reduce -22.4%
TJX TJX Companies Inc. filed as TJX COS INC NEW 1.46% 32,878 $4.1M Reduce -0.5%
AMGN Amgen Inc. 1.45% 14,464 $4.0M Add +0.5%
URI United Rentals Inc. 1.40% 5,151 $3.9M Add +0.7%
WMT Walmart Inc. 1.26% 35,703 $3.5M Add +0.5%
TDG Transdigm Group Inc. 1.21% 2,215 $3.4M Add +1.6%
PM Philip Morris International 1.21% 18,461 $3.4M Add +36.1%
GD General Dynamics Corp. 1.20% 11,395 $3.3M Reduce -0.1%
APP AppLovin Corp. Class A 1.18% 9,364 $3.3M Add +120.4%
PYPL PayPal Holdings Inc. 1.14% 42,584 $3.2M Add +1.3%
SU Suncor Energy Inc. 1.14% 84,442 $3.2M Add +0.1%
LMND Lemonade Inc. 1.11% 70,571 $3.1M New
MSFT Microsoft Corp. 1.09% 6,118 $3.0M Reduce -0.1%
XPO Xpo Inc. 1.08% 23,738 $3.0M Add +1.1%
QXO Qxo Inc. 1.06% 137,241 $3.0M Add +128.7%
ABBV Abbvie Inc. 1.05% 15,674 $2.9M Add +0.9%
GNRC Generac Holdings Inc. 1.04% 20,279 $2.9M Add +34.5%
LULU Lululemon Athletica Inc. 1.04% 12,171 $2.9M Add +147.2%
TSLA Tesla Inc. 1.04% 9,096 $2.9M Reduce -12.7%
CMG Chipotle Mexican Grill Inc. 1.00% 49,597 $2.8M Add +0.6%
CPRT Copart Inc. 0.94% 53,121 $2.6M Add +0.4%
COST Costco Wholesale Corp. 0.91% 2,542 $2.5M Reduce -53.8%
BKNG Booking Holdings Inc. 0.88% 420 $2.4M Add +1.4%
AAPL Apple Inc. 0.87% 11,771 $2.4M Add +1.9%
KO The Coca-Cola Co. 0.79% 31,240 $2.2M Reduce -1.0%
DPZ Domino's Pizza Inc. 0.79% 4,884 $2.2M Add +2.6%
ORLY O'reilly Automotive Inc. 0.75% 23,279 $2.1M Reduce -0.6%
BJ Bj's Wholesale Club Holdings filed as BJS WHSL CLUB HLDGS INC 0.75% 19,302 $2.1M Add +179.7%
VLO Valero Energy Corp. 0.75% 15,452 $2.1M Reduce -1.8%
GOOG Alphabet Inc. Class C 0.75% 11,686 $2.1M Reduce -0.5%
ZTAX X-Square Municipal Inc. ETF 0.73% 80,171 $2.0M Add +0.1%
URNM Sprott Uranium Miners ETF 0.71% 41,043 $2.0M No change
EXPE Expedia Group Inc. 0.70% 11,514 $1.9M Reduce -1.1%
ASTS Ast Spacemobile Inc. 0.69% 41,000 $1.9M New
DG Dollar General Corp. 0.68% 16,611 $1.9M Add +1.2%
GLD SPDR Gold Shares 0.68% 6,182 $1.9M New
LEN Lennar Corp. Class A 0.68% 16,991 $1.9M Add +1.1%
XLE SS Energy Select Sector 0.67% 21,968 $1.9M Reduce -0.6%
PPLT Abrdn Physical Platinum SHRS 0.66% 14,825 $1.8M New
KMB Kimberly-Clark Corp. 0.65% 13,966 $1.8M Reduce -0.6%
NOC Northrop Grumman Corp. 0.62% 3,465 $1.7M Reduce -0.7%
RH RH 0.61% 8,999 $1.7M Add +12.2%
QQQ Invesco QQQ Trust Series 1 0.60% 3,009 $1.7M Add +21.3%
PEP Pepsico Inc. 0.59% 12,375 $1.6M New
BPOP Popular Inc. 0.59% 14,826 $1.6M Reduce -1.8%
MO Altria Group Inc. 0.58% 27,277 $1.6M Add +33.4%
VALE Vale SA-SP ADR 0.57% 164,085 $1.6M Add +1.7%
TPL Texas Pacific Land Corp. 0.55% 1,452 $1.5M Reduce -1.9%
OXY Occidental Petroleum Corp. 0.52% 34,511 $1.4M Add +0.3%
RTX RTX Corp. 0.50% 9,545 $1.4M Reduce -2.8%
SMCI Super Micro Computer Inc. 0.50% 28,133 $1.4M Add +0.1%
FAST Fastenal Co. 0.49% 32,113 $1.3M Add +0.9%
HD Home Depot Inc. 0.47% 3,568 $1.3M Add +1.4%
GRMN Garmin Ltd. 0.46% 6,123 $1.3M Add +2.6%
FRO Frontline PLC 0.46% 77,606 $1.3M Add +178.2%
BAH Booz Allen Hamilton Holdings 0.44% 11,838 $1.2M Add +2.0%
SHOP Shopify Inc. Class A 0.43% 10,253 $1.2M Add +1.7%
LMT Lockheed Martin Corp. 0.41% 2,434 $1.1M Add +1.3%
PHM Pultegroup Inc. 0.40% 10,646 $1.1M Reduce -1.0%
VAL Valaris Ltd. 0.39% 25,657 $1.1M Reduce -0.4%
NFE New Fortress Energy Inc. 0.38% 320,387 $1.1M Add +67.3%
CB Chubb Ltd. 0.38% 3,667 $1.1M Reduce -2.1%
COIN Coinbase Global Inc. Class A 0.38% 3,014 $1.1M Add +4.9%
JNJ Johnson & Johnson 0.36% 6,541 $999K Add +1.9%
VUG Vanguard Mrngstar GR ETF-Sui 0.36% 2,262 $992K Add +3.7%
ORCL Oracle Corp. 0.35% 4,507 $985K Add +5.5%
ASML ASML Holding NV-NY Reg SHS 0.35% 1,225 $982K Add +0.7%
TEVA Teva Pharmaceutical-SP ADR 0.35% 57,864 $970K Reduce -2.4%
GFS Globalfoundries Inc. 0.33% 24,301 $928K Reduce -0.4%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.32% 18,979 $898K Reduce -0.8%
EXE Expand Energy Corp. 0.32% 7,566 $885K Add +2.6%
SMLR Semler Scientific Inc. 0.32% 22,774 $882K No change
ZIM Zim Integrated Shipping Serv 0.31% 54,100 $870K New
ALLY Ally Financial Inc. 0.31% 22,222 $866K Add +3.8%
DUOL Duolingo 0.31% 2,110 $865K New
MA Mastercard Inc. Class A 0.31% 1,530 $860K Add +3.9%
FIX Comfort Systems USA Inc. 0.31% 1,600 $858K No change
FTNT Fortinet Inc. 0.31% 8,072 $853K Add +4.1%
TSCO Tractor Supply Company 0.31% 16,106 $850K Add +3.6%
VTV Vanguard Mrngstr Val ETF-Aui 0.29% 4,531 $801K Add +4.0%
HCC Warrior Met Coal Inc. 0.28% 17,150 $786K No change
TMUS T-Mobile US Inc. 0.27% 3,152 $751K Add +82.8%
EME Emcor Group Inc. 0.27% 1,385 $741K No change
BRK.A Berkshire Hathaway Inc. Class A 0.26% 1 $729K No change
UCO Proshares Ultra Bloomberg CR 0.24% 30,000 $672K New
PG The Procter & Gamble Co. 0.24% 4,214 $671K Reduce -0.4%
GOOGL Alphabet Inc. Class A 0.23% 3,669 $647K Add +0.4%
XOM Exxon Mobil Corp. 0.23% 5,928 $639K No change
TFC Truist Financial Corp. 0.23% 14,632 $629K Add +5.3%
SKYH SKY Harbour Group Corp. 0.22% 62,785 $613K Add +109.3%
FCX Freeport-McMoran Inc. 0.22% 14,050 $609K Add +7.2%
NUVB Nuvation Bio Inc. 0.22% 310,000 $605K New
BITX 2X Bitcoin ETF 0.22% 11,169 $603K Add +16.9%
MS Morgan Stanley 0.21% 4,065 $573K Add +0.0%
EOG EOG Resources Inc. 0.20% 4,707 $563K Add +5.9%
TGLS Tecnoglass Holdings Inc. 0.20% 7,263 $562K Add +6.4%
PROSHARES ULTRA BLOOMBERG NA 0.20% 11,902 $548K New
BTE Baytex Energy Corp. 0.19% 296,780 $531K No change
CMI Cummins Inc. 0.19% 1,600 $524K No change
RIO Rio Tinto PLC-Spon ADR 0.18% 8,743 $510K Add +6.2%
TSM Taiwan Semiconductor-SP ADR 0.17% 2,121 $480K No change
VIST Vista Energy Sab DE CV 0.17% 10,000 $478K New
BTI British American Tob-SP ADR 0.17% 9,867 $467K Reduce -0.0%
ICE Intercontinental Exchange Inc. 0.16% 2,433 $446K Add +8.2%
MKTX Marketaxess Holdings Inc. 0.15% 1,874 $419K Add +7.6%
SOXX iShares Semiconductor ETF 0.15% 1,746 $417K New
FANG Diamondback Energy Inc. 0.15% 2,993 $411K Reduce -0.5%
EWZ iShares MSCI Brazil ETF 0.15% 14,003 $404K Reduce -4.8%
KHC The Kraft Heinz Co. 0.14% 15,607 $403K New
VOYG Voyager Technologies Inc. Class A 0.14% 10,000 $393K New
BMA Banco Macro SA-ADR 0.14% 5,440 $382K Reduce -9.3%
AKAM Akamai Technologies Inc. 0.13% 4,685 $374K Add +9.2%
C Citigroup Inc. 0.13% 4,310 $367K Add +0.1%
BORR Borr Drilling Ltd. 0.13% 199,461 $365K Reduce -2.0%
CROX Crocs Inc. 0.13% 3,592 $364K No change
OIH Vaneck Oil Services ETF 0.13% 1,569 $361K No change
MRK Merck & Co. Inc. 0.13% 4,504 $357K Add +0.0%
Z Zillow Group Inc. Class C 0.12% 4,744 $332K Reduce -0.0%
AMR Alpha Metallurgical Resource 0.12% 2,920 $328K Reduce -1.4%
SBSW Sibanye-Stillwater Ltd.-ADR 0.11% 42,147 $304K New
BABA Alibaba Group Holding-SP ADR 0.11% 2,663 $302K Reduce -3.5%
WFC Wells Fargo & Co. 0.11% 3,717 $298K Reduce -3.9%
MCD McDonald's Corp. 0.11% 1,005 $294K Reduce -7.7%
BAK Braskem SA Class A- ADR 0.10% 85,000 $279K No change
TDW Tidewater Inc. 0.10% 6,000 $277K No change
ERX Direxion Daily Enrgy BL2X-Ui 0.10% 5,306 $273K Add +0.5%
QCOM Qualcomm Inc. 0.10% 1,710 $273K No change
PBR Petroleo Brasileiro-Spon ADR 0.10% 21,748 $272K New
TLT iShares 20+ Year Treasury BD 0.10% 3,000 $265K New
PAGAYA TECHNOLOGIES LTD 0.09% 11,879 $253K No change
BX Blackstone Inc. 0.09% 1,679 $251K Add +0.5%
LLY Eli Lilly & Co. 0.09% 313 $244K Add +0.6%
RXO Rxo Inc. 0.09% 15,115 $238K Add +16.2%
PSX Phillips 66 0.08% 1,905 $227K Reduce -2.1%
SIVR Abrdn Physical Silver Shares 0.08% 6,500 $224K New
PRI Primerica Inc. 0.07% 735 $201K No change
UUUU Energy Fuels Inc. 0.06% 30,961 $180K No change
COTY Coty Inc. Class A 0.05% 31,153 $145K Reduce -2.4%
METC Ramaco Resources Inc. Class A 0.05% 10,000 $131K No change
BHC Bausch Health Cos Inc. 0.04% 18,722 $125K Reduce -2.0%
SAN Banco Santander SA-Spon ADR 0.04% 13,127 $109K Reduce -9.4%
OBE Obsidian Energy Ltd. 0.04% 17,653 $98K No change
OPK Opko Health Inc. 0.01% 21,040 $28K Reduce -95.4%
JRNGF Journey Energy Inc. 0.01% 16,095 $23K No change
TNYA Tenaya Therapeutics Inc. 0.00% 10,000 $6K New
ADAPY Adaptimmune Therapeutics-ADR 0.00% 11,173 $3K No change

Portfolio Sells Q1 2025 → Q2 2025
IBIT iShares Bitcoin Trust ETF Reduce -48.3% 2.85% −2.19
COST Costco Wholesale Corp. Reduce -53.8% 0.91% −1.33
SKX Skechers USA Inc. Class A Sold out 0.00% −1.20
PLTR Palantir Technologies Inc. Class A Sold out 0.00% −0.75
BRK.B Berkshire Hathaway Inc. Class B Reduce -0.1% 1.91% −0.59
SOXL Direx Dail Semi Bu 3X Et-Usd Sold out 0.00% −0.39
OPK Opko Health Inc. Reduce -95.4% 0.01% −0.32
OFG Ofg Bancorp Reduce -0.4% 2.56% −0.31
UBER Uber Technologies Inc. Sold out 0.00% −0.31
TPL Texas Pacific Land Corp. Reduce -1.9% 0.55% −0.29
RACE Ferrari NV Sold out 0.00% −0.28
TJX TJX Companies Inc. Reduce -0.5% 1.46% −0.27
MARA Mara Holdings Inc. Sold out 0.00% −0.24
FBP First Bancorp Puerto Rico Reduce -0.5% 2.23% −0.24
XLE SS Energy Select Sector Reduce -0.6% 0.67% −0.22
KMB Kimberly-Clark Corp. Reduce -0.6% 0.65% −0.21
ORLY O'reilly Automotive Inc. Reduce -0.6% 0.75% −0.21
TMF Dir DLY 20+YR TR BL3X ETF-Ui Sold out 0.00% −0.20
AMD Advanced Micro Devices Reduce -22.4% 1.63% −0.19
KO The Coca-Cola Co. Reduce -1.0% 0.79% −0.18
HE Hawaiian Electric Inds Sold out 0.00% −0.17
VLO Valero Energy Corp. Reduce -1.8% 0.75% −0.15
NOC Northrop Grumman Corp. Reduce -0.7% 0.62% −0.14
EXPE Expedia Group Inc. Reduce -1.1% 0.70% −0.14
GD General Dynamics Corp. Reduce -0.1% 1.20% −0.14
RIOT Riot Platforms Inc. Sold out 0.00% −0.12
TSLA Tesla Inc. Reduce -12.7% 1.04% −0.12
SSO Proshares Ultra S&P500 Sold out 0.00% −0.12
RIG Transocean Ltd. Sold out 0.00% −0.11
CB Chubb Ltd. Reduce -2.1% 0.38% −0.10
TQQQ Proshares Ultrapro QQQ Sold out 0.00% −0.09
GOLDEN OCEAN GROUP LTD Sold out 0.00% −0.09
PHM Pultegroup Inc. Reduce -1.0% 0.40% −0.07
PG The Procter & Gamble Co. Reduce -0.4% 0.24% −0.07
BORR Borr Drilling Ltd. Reduce -2.0% 0.13% −0.06
FANG Diamondback Energy Inc. Reduce -0.5% 0.15% −0.06
RTX RTX Corp. Reduce -2.8% 0.50% −0.06
BMA Banco Macro SA-ADR Reduce -9.3% 0.14% −0.06
GFS Globalfoundries Inc. Reduce -0.4% 0.33% −0.05
BABA Alibaba Group Holding-SP ADR Reduce -3.5% 0.11% −0.05
VAL Valaris Ltd. Reduce -0.4% 0.39% −0.05
GOOG Alphabet Inc. Class C Reduce -0.5% 0.75% −0.04
TEVA Teva Pharmaceutical-SP ADR Reduce -2.4% 0.35% −0.04
AMR Alpha Metallurgical Resource Reduce -1.4% 0.12% −0.04
MCD McDonald's Corp. Reduce -7.7% 0.11% −0.04
JPM JPMorgan Chase & Co. Reduce -0.5% 2.30% −0.04
COTY Coty Inc. Class A Reduce -2.4% 0.05% −0.02
PSX Phillips 66 Reduce -2.1% 0.08% −0.02
Z Zillow Group Inc. Class C Reduce -0.0% 0.12% −0.02
BAC Bank of America Corp. Reduce -0.8% 0.32% −0.02

Portfolio Buys Q1 2025 → Q2 2025
HIMS Hims & Hers Health Inc. Add +53.3% 4.22% +2.27
MSTR Strategy Inc. Add +70.0% 3.67% +1.83
IREN Iren Ltd. Add +129.9% 2.28% +1.79
LMND Lemonade Inc. New 1.11% +1.11
QXO Qxo Inc. Add +128.7% 1.06% +0.71
APP AppLovin Corp. Class A Add +120.4% 1.18% +0.69
ASTS Ast Spacemobile Inc. New 0.69% +0.69
GLD SPDR Gold Shares New 0.68% +0.68
PPLT Abrdn Physical Platinum SHRS New 0.66% +0.66
PEP Pepsico Inc. New 0.59% +0.59
LULU Lululemon Athletica Inc. Add +147.2% 1.04% +0.44
BJ Bj's Wholesale Club Holdings Add +179.7% 0.75% +0.41
ZIM Zim Integrated Shipping Serv New 0.31% +0.31
DUOL Duolingo New 0.31% +0.31
PM Philip Morris International Add +36.1% 1.21% +0.28
FRO Frontline PLC Add +178.2% 0.46% +0.28
UCO Proshares Ultra Bloomberg CR New 0.24% +0.24
GNRC Generac Holdings Inc. Add +34.5% 1.04% +0.22
NUVB Nuvation Bio Inc. New 0.22% +0.22
PROSHARES ULTRA BLOOMBERG NA New 0.20% +0.20
VIST Vista Energy Sab DE CV New 0.17% +0.17
COIN Coinbase Global Inc. Class A Add +4.9% 0.38% +0.17
SOXX iShares Semiconductor ETF New 0.15% +0.15
KHC The Kraft Heinz Co. New 0.14% +0.14
VOYG Voyager Technologies Inc. Class A New 0.14% +0.14
SBSW Sibanye-Stillwater Ltd.-ADR New 0.11% +0.11
PBR Petroleo Brasileiro-Spon ADR New 0.10% +0.10
ORCL Oracle Corp. Add +5.5% 0.35% +0.10
QQQ Invesco QQQ Trust Series 1 Add +21.3% 0.60% +0.10
TLT iShares 20+ Year Treasury BD New 0.10% +0.10
SMCI Super Micro Computer Inc. Add +0.1% 0.50% +0.08
SIVR Abrdn Physical Silver Shares New 0.08% +0.08
TMUS T-Mobile US Inc. Add +82.8% 0.27% +0.07
BITX 2X Bitcoin ETF Add +16.9% 0.22% +0.07
DG Dollar General Corp. Add +1.2% 0.68% +0.06
BKNG Booking Holdings Inc. Add +1.4% 0.88% +0.05
SKYH SKY Harbour Group Corp. Add +109.3% 0.22% +0.05
MO Altria Group Inc. Add +33.4% 0.58% +0.05
URI United Rentals Inc. Add +0.7% 1.40% +0.02
SHOP Shopify Inc. Class A Add +1.7% 0.43% +0.01
VUG Vanguard Mrngstar GR ETF-Sui Add +3.7% 0.36% +0.01
ASML ASML Holding NV-NY Reg SHS Add +0.7% 0.35% +0.01
FCX Freeport-McMoran Inc. Add +7.2% 0.22% +0.01
MS Morgan Stanley Add +0.0% 0.21% +0.00
TNYA Tenaya Therapeutics Inc. New 0.00% +0.00
C Citigroup Inc. Add +0.1% 0.13% +0.00
ICE Intercontinental Exchange Inc. Add +8.2% 0.16% −0.01
TGLS Tecnoglass Holdings Inc. Add +6.4% 0.20% −0.01
XPO Xpo Inc. Add +1.1% 1.08% −0.01
BX Blackstone Inc. Add +0.5% 0.09% −0.01

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 176$394.1MASTS, AMD, MU, SPY, IREN
Q1 2026 164$296.7MSPY, IREN, AMD, HIMS, META
Q4 2025 161$305.2MHIMS, ASTS, SPY, AMD, IREN
Q3 2025 162$320.2MHIMS, LMND, ASTS, SPY, AMD
Q2 2025 160$278.1MHIMS, SPY, MSTR, IBIT, META
Q1 2025 154$232.6MIBIT, SPY, OFG, META, BRK.B
Q4 2024 163$243.3MIBIT, SPY, META, OFG, JPM
Q3 2024 161$295.9MBRK.A, IBIT, SPY, FBP, OFG
Q2 2024 157$276.3MBRK.A, IBIT, FBP, OFG, SPY
Q1 2024 153$211.0MIBIT, SPY, BPOP, AMD, META