X-Square Capital, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 10, 2025), X-Square Capital, LLC reported 162 stock positions worth $320.2 million. Its top holding was Hims & Hers Health (HIMS) at 7.6% of the portfolio, followed by Lemonade (LMND, 3.6%) and Ast Spacemobile (ASTS, 3.5%). Compared with Q2 2025, it opened 13 new positions, sold out of 11, added to 71 and reduced 51. The biggest buy was Hims & Hers Health (HIMS, shares +82%) and the biggest sale an exit from Iren (IREN).
- Most Recent 13F
- Q2 2026
- Location
- GUAYNABO, PR
- CIK
- 0001729300
- Portfolio Value
- $320.2M (Q3 2025)
- SEC Filing
- 0001729300-25-000005 ↗ filed Nov 10, 2025
Holdings Value
Holdings 162 stocks · $320.2M
| HIMS Hims & Hers Health Inc. | 7.58% | 427,591 | $24.3M | Add +81.7% |
| LMND Lemonade Inc. | 3.56% | 213,199 | $11.4M | Add +202.1% |
| ASTS Ast Spacemobile Inc. | 3.50% | 228,150 | $11.2M | Add +456.5% |
| SPY SS SPDR S&P 500 ETF Trust-US | 3.48% | 16,720 | $11.1M | Add +0.6% |
| AMD Advanced Micro Devices | 3.15% | 62,267 | $10.1M | Add +95.5% |
| IBIT iShares Bitcoin Trust ETF | 2.74% | 134,733 | $8.8M | Add +4.1% |
| META Meta Platforms Inc. Class A | 2.42% | 10,558 | $7.8M | Add +0.6% |
| OFG Ofg Bancorp | 2.20% | 161,959 | $7.0M | Reduce -2.7% |
| JPM JPMorgan Chase & Co. | 2.20% | 22,293 | $7.0M | Add +0.9% |
| MU Micron Technology Inc. | 2.02% | 38,586 | $6.5M | Add +0.9% |
| MSTR Strategy Inc. | 1.84% | 18,279 | $5.9M | Reduce -27.6% |
| FBP First Bancorp Puerto Rico | 1.84% | 266,909 | $5.9M | Reduce -10.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.67% | 10,624 | $5.3M | Reduce -2.7% |
| URI United Rentals Inc. | 1.55% | 5,199 | $5.0M | Add +0.9% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 1.50% | 33,241 | $4.8M | Add +1.1% |
| NVDA Nvidia Corp. | 1.47% | 25,298 | $4.7M | Reduce -13.5% |
| AMZN Amazon.com Inc. | 1.46% | 21,259 | $4.7M | Add +1.1% |
| MELI MercadoLibre Inc. | 1.38% | 1,885 | $4.4M | Add +1.1% |
| CPRT Copart Inc. | 1.29% | 92,084 | $4.1M | Add +73.3% |
| AMGN Amgen Inc. | 1.29% | 14,639 | $4.1M | Add +1.2% |
| GD General Dynamics Corp. | 1.23% | 11,541 | $3.9M | Add +1.3% |
| ABBV Abbvie Inc. | 1.15% | 15,929 | $3.7M | Add +1.6% |
| WMT Walmart Inc. | 1.15% | 35,714 | $3.7M | Add +0.0% |
| SU Suncor Energy Inc. | 1.12% | 85,551 | $3.6M | Add +1.3% |
| MSFT Microsoft Corp. | 1.00% | 6,209 | $3.2M | Add +1.5% |
| TSLA Tesla Inc. | 0.99% | 7,091 | $3.2M | Reduce -22.0% |
| XPO Xpo Inc. | 0.97% | 24,077 | $3.1M | Add +1.4% |
| BMA Banco Macro SA-ADR | 0.94% | 71,536 | $3.0M | Add +1215.0% |
| AAPL Apple Inc. | 0.94% | 11,789 | $3.0M | Add +0.1% |
| PM Philip Morris International | 0.94% | 18,471 | $3.0M | Add +0.1% |
| TDG Transdigm Group Inc. | 0.92% | 2,246 | $3.0M | Add +1.4% |
| CLSK Cleanspark Inc. | 0.91% | 200,000 | $2.9M | New |
| GOOG Alphabet Inc. Class C | 0.89% | 11,687 | $2.8M | Add +0.0% |
| PYPL PayPal Holdings Inc. | 0.89% | 42,434 | $2.8M | Reduce -0.3% |
| GNRC Generac Holdings Inc. | 0.81% | 15,529 | $2.6M | Reduce -23.4% |
| ORLY O'reilly Automotive Inc. | 0.80% | 23,687 | $2.6M | Add +1.8% |
| EXPE Expedia Group Inc. | 0.78% | 11,719 | $2.5M | Add +1.8% |
| DUOL Duolingo | 0.78% | 7,725 | $2.5M | Add +266.1% |
| COST Costco Wholesale Corp. | 0.74% | 2,566 | $2.4M | Add +0.9% |
| BKNG Booking Holdings Inc. | 0.73% | 435 | $2.3M | Add +3.6% |
| GLD SPDR Gold Shares | 0.69% | 6,192 | $2.2M | Add +0.2% |
| LEN Lennar Corp. Class A | 0.68% | 17,365 | $2.2M | Add +2.2% |
| NOC Northrop Grumman Corp. | 0.68% | 3,550 | $2.2M | Add +2.5% |
| DPZ Domino's Pizza Inc. | 0.67% | 4,986 | $2.2M | Add +2.1% |
| KO The Coca-Cola Co. | 0.66% | 31,923 | $2.1M | Add +2.2% |
| TECL Dire Dai Tec Bull 3X ETF-Usd | 0.64% | 20,500 | $2.1M | New |
| LULU Lululemon Athletica Inc. | 0.63% | 11,395 | $2.0M | Reduce -6.4% |
| ZTAX X-Square Municipal Inc. ETF | 0.62% | 80,766 | $2.0M | Add +0.7% |
| BITX 2X Bitcoin ETF | 0.62% | 36,094 | $2.0M | Add +223.2% |
| CMG Chipotle Mexican Grill Inc. | 0.61% | 49,994 | $2.0M | Add +0.8% |
| CROX Crocs Inc. | 0.60% | 22,900 | $1.9M | Add +537.5% |
| RH RH | 0.58% | 9,189 | $1.9M | Add +2.1% |
| QQQ Invesco QQQ Trust Series 1 | 0.57% | 3,061 | $1.8M | Add +1.7% |
| BJ Bj's Wholesale Club Holdings filed as BJS WHSL CLUB HLDGS INC | 0.57% | 19,612 | $1.8M | Add +1.6% |
| MO Altria Group Inc. | 0.57% | 27,445 | $1.8M | Add +0.6% |
| PEP Pepsico Inc. | 0.56% | 12,668 | $1.8M | Add +2.4% |
| VALE Vale SA-SP ADR | 0.54% | 160,558 | $1.7M | Reduce -2.1% |
| DG Dollar General Corp. | 0.54% | 16,866 | $1.7M | Add +1.5% |
| RR Richtech Robotics Inc. Class B | 0.54% | 400,300 | $1.7M | New |
| RTX RTX Corp. | 0.52% | 9,858 | $1.6M | Add +3.3% |
| APP AppLovin Corp. Class A | 0.51% | 2,291 | $1.6M | Reduce -75.5% |
| OXY Occidental Petroleum Corp. | 0.51% | 34,606 | $1.6M | Add +0.3% |
| FAST Fastenal Co. | 0.49% | 32,084 | $1.6M | Reduce -0.1% |
| GRMN Garmin Ltd. | 0.47% | 6,123 | $1.5M | No change |
| SHOP Shopify Inc. Class A | 0.45% | 9,743 | $1.4M | Reduce -5.0% |
| HD Home Depot Inc. | 0.45% | 3,569 | $1.4M | Add +0.0% |
| QXO Qxo Inc. | 0.45% | 74,907 | $1.4M | Reduce -45.4% |
| PHM Pultegroup Inc. | 0.44% | 10,639 | $1.4M | Reduce -0.1% |
| TPL Texas Pacific Land Corp. | 0.44% | 1,493 | $1.4M | Add +2.8% |
| SMCI Super Micro Computer Inc. | 0.42% | 28,250 | $1.4M | Add +0.4% |
| FIX Comfort Systems USA Inc. | 0.41% | 1,600 | $1.3M | No change |
| ORCL Oracle Corp. | 0.40% | 4,510 | $1.3M | Add +0.1% |
| VLO Valero Energy Corp. | 0.39% | 7,356 | $1.3M | Reduce -52.4% |
| JNJ Johnson & Johnson | 0.38% | 6,544 | $1.2M | Add +0.1% |
| LMT Lockheed Martin Corp. | 0.37% | 2,381 | $1.2M | Reduce -2.2% |
| ASML ASML Holding NV-NY Reg SHS | 0.37% | 1,223 | $1.2M | Reduce -0.2% |
| TEVA Teva Pharmaceutical-SP ADR | 0.36% | 57,795 | $1.2M | Reduce -0.1% |
| ONDS Ondas Inc. filed as ONDAS HLDGS INC | 0.36% | 150,000 | $1.2M | New |
| BAH Booz Allen Hamilton Holdings | 0.36% | 11,578 | $1.2M | Reduce -2.2% |
| SBSW Sibanye-Stillwater Ltd.-ADR | 0.36% | 102,282 | $1.1M | Add +142.7% |
| UNH Unitedhealth Group Inc. | 0.32% | 3,000 | $1.0M | New |
| CB Chubb Ltd. | 0.32% | 3,667 | $1.0M | No change |
| CEG Constellation Energy | 0.32% | 3,100 | $1.0M | New |
| ZETA Zeta Global Holdings Corp. Class A | 0.31% | 50,000 | $994K | New |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.31% | 2,048 | $982K | Reduce -9.5% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.31% | 19,018 | $981K | Add +0.2% |
| TSCO Tractor Supply Company | 0.29% | 16,059 | $913K | Reduce -0.3% |
| EME Emcor Group Inc. | 0.28% | 1,385 | $900K | No change |
| GOOGL Alphabet Inc. Class A | 0.28% | 3,676 | $893K | Add +0.2% |
| MA Mastercard Inc. Class A | 0.27% | 1,530 | $870K | No change |
| ALLY Ally Financial Inc. | 0.27% | 21,974 | $861K | Reduce -1.1% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.27% | 4,561 | $851K | Add +0.7% |
| XLE SS Energy Select Sector | 0.26% | 9,479 | $847K | Reduce -56.9% |
| BORR Borr Drilling Ltd. | 0.26% | 312,714 | $841K | Add +56.8% |
| EXE Expand Energy Corp. | 0.25% | 7,557 | $803K | Reduce -0.1% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.24% | 1 | $754K | No change |
| TMUS T-Mobile US Inc. | 0.24% | 3,149 | $754K | Reduce -0.1% |
| ZIM Zim Integrated Shipping Serv | 0.23% | 54,200 | $734K | Add +0.2% |
| BPOP Popular Inc. | 0.23% | 5,714 | $726K | Reduce -61.5% |
| NFE New Fortress Energy Inc. | 0.22% | 317,233 | $701K | Reduce -1.0% |
Portfolio Sells Q2 2025 → Q3 2025
| IREN Iren Ltd. | Sold out | 0.00% | −2.28 |
| MSTR Strategy Inc. | Reduce -27.6% | 1.84% | −1.83 |
| URNM Sprott Uranium Miners ETF | Sold out | 0.00% | −0.71 |
| APP AppLovin Corp. Class A | Reduce -75.5% | 0.51% | −0.66 |
| QXO Qxo Inc. | Reduce -45.4% | 0.45% | −0.62 |
| FRO Frontline PLC | Sold out | 0.00% | −0.46 |
| KMB Kimberly-Clark Corp. | Reduce -62.9% | 0.20% | −0.45 |
| PPLT Abrdn Physical Platinum SHRS | Reduce -67.5% | 0.22% | −0.44 |
| LULU Lululemon Athletica Inc. | Reduce -6.4% | 0.63% | −0.41 |
| XLE SS Energy Select Sector | Reduce -56.9% | 0.26% | −0.41 |
| FBP First Bancorp Puerto Rico | Reduce -10.2% | 1.84% | −0.39 |
| VAL Valaris Ltd. | Sold out | 0.00% | −0.39 |
| OFG Ofg Bancorp | Reduce -2.7% | 2.20% | −0.36 |
| BPOP Popular Inc. | Reduce -61.5% | 0.23% | −0.36 |
| VLO Valero Energy Corp. | Reduce -52.4% | 0.39% | −0.36 |
| GFS Globalfoundries Inc. | Reduce -73.9% | 0.07% | −0.26 |
| PYPL PayPal Holdings Inc. | Reduce -0.3% | 0.89% | −0.25 |
| UCO Proshares Ultra Bloomberg CR | Sold out | 0.00% | −0.24 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -2.7% | 1.67% | −0.24 |
| GNRC Generac Holdings Inc. | Reduce -23.4% | 0.81% | −0.23 |
| NUVB Nuvation Bio Inc. | Sold out | 0.00% | −0.22 |
| COIN Coinbase Global Inc. Class A | Reduce -39.8% | 0.19% | −0.19 |
| NVDA Nvidia Corp. | Reduce -13.5% | 1.47% | −0.19 |
| VIST Vista Energy Sab DE CV | Sold out | 0.00% | −0.17 |
| NFE New Fortress Energy Inc. | Reduce -1.0% | 0.22% | −0.16 |
| KHC The Kraft Heinz Co. | Sold out | 0.00% | −0.14 |
| HCC Warrior Met Coal Inc. | Reduce -56.3% | 0.15% | −0.13 |
| SMLR Semler Scientific Inc. | Reduce -2.5% | 0.21% | −0.11 |
| PROSHARES ULTRA BLOOMBERG NA | Reduce -12.6% | 0.10% | −0.10 |
| PAGAYA TECHNOLOGIES LTD | Sold out | 0.00% | −0.09 |
| BAH Booz Allen Hamilton Holdings | Reduce -2.2% | 0.36% | −0.08 |
| EXE Expand Energy Corp. | Reduce -0.1% | 0.25% | −0.07 |
| UUUU Energy Fuels Inc. | Sold out | 0.00% | −0.06 |
| TSLA Tesla Inc. | Reduce -22.0% | 0.99% | −0.05 |
| VUG Vanguard Mrngstar GR ETF-Sui | Reduce -9.5% | 0.31% | −0.05 |
| MKTX Marketaxess Holdings Inc. | Reduce -0.1% | 0.10% | −0.05 |
| METC Ramaco Resources Inc. Class A | Sold out | 0.00% | −0.05 |
| ALLY Ally Financial Inc. | Reduce -1.1% | 0.27% | −0.04 |
| RIO Rio Tinto PLC-Spon ADR | Reduce -18.3% | 0.15% | −0.04 |
| TMUS T-Mobile US Inc. | Reduce -0.1% | 0.24% | −0.03 |
| LMT Lockheed Martin Corp. | Reduce -2.2% | 0.37% | −0.03 |
| VALE Vale SA-SP ADR | Reduce -2.1% | 0.54% | −0.03 |
| TSCO Tractor Supply Company | Reduce -0.3% | 0.29% | −0.02 |
| OIH Vaneck Oil Services ETF | Reduce -12.9% | 0.11% | −0.02 |
| MRK Merck & Co. Inc. | Reduce -6.6% | 0.11% | −0.02 |
| RXO Rxo Inc. | Reduce -0.2% | 0.07% | −0.01 |
| PBR Petroleo Brasileiro-Spon ADR | Reduce -1.3% | 0.09% | −0.01 |
| EWZ iShares MSCI Brazil ETF | Reduce -0.3% | 0.14% | −0.01 |
| QCOM Qualcomm Inc. | Reduce -0.5% | 0.09% | −0.01 |
| Z Zillow Group Inc. Class C | Reduce -0.3% | 0.11% | −0.01 |
Portfolio Buys Q2 2025 → Q3 2025
| HIMS Hims & Hers Health Inc. | Add +81.7% | 7.58% | +3.36 |
| ASTS Ast Spacemobile Inc. | Add +456.5% | 3.50% | +2.81 |
| LMND Lemonade Inc. | Add +202.1% | 3.56% | +2.45 |
| AMD Advanced Micro Devices | Add +95.5% | 3.15% | +1.52 |
| CLSK Cleanspark Inc. | New | 0.91% | +0.91 |
| BMA Banco Macro SA-ADR | Add +1215.0% | 0.94% | +0.81 |
| TECL Dire Dai Tec Bull 3X ETF-Usd | New | 0.64% | +0.64 |
| RR Richtech Robotics Inc. Class B | New | 0.54% | +0.54 |
| CROX Crocs Inc. | Add +537.5% | 0.60% | +0.47 |
| DUOL Duolingo | Add +266.1% | 0.78% | +0.47 |
| BITX 2X Bitcoin ETF | Add +223.2% | 0.62% | +0.40 |
| ONDS Ondas Inc. | New | 0.36% | +0.36 |
| CPRT Copart Inc. | Add +73.3% | 1.29% | +0.36 |
| UNH Unitedhealth Group Inc. | New | 0.32% | +0.32 |
| MU Micron Technology Inc. | Add +0.9% | 2.02% | +0.32 |
| CEG Constellation Energy | New | 0.32% | +0.32 |
| ZETA Zeta Global Holdings Corp. Class A | New | 0.31% | +0.31 |
| SBSW Sibanye-Stillwater Ltd.-ADR | Add +142.7% | 0.36% | +0.25 |
| URI United Rentals Inc. | Add +0.9% | 1.55% | +0.15 |
| GOOG Alphabet Inc. Class C | Add +0.0% | 0.89% | +0.14 |
| BORR Borr Drilling Ltd. | Add +56.8% | 0.26% | +0.13 |
| PLTR Palantir Technologies Inc. Class A | New | 0.11% | +0.11 |
| ABBV Abbvie Inc. | Add +1.6% | 1.15% | +0.11 |
| CIFR Cipher Digital Inc. | New | 0.09% | +0.09 |
| TMF Dir DLY 20+YR TR BL3X ETF-Ui | New | 0.09% | +0.09 |
| VGT Vanguard Info Tech ETF | New | 0.09% | +0.09 |
| EXPE Expedia Group Inc. | Add +1.8% | 0.78% | +0.08 |
| GDX Vaneck Gold Miners ETF | New | 0.08% | +0.08 |
| AAPL Apple Inc. | Add +0.1% | 0.94% | +0.07 |
| NOC Northrop Grumman Corp. | Add +2.5% | 0.68% | +0.05 |
| GOOGL Alphabet Inc. Class A | Add +0.2% | 0.28% | +0.05 |
| ORLY O'reilly Automotive Inc. | Add +1.8% | 0.80% | +0.04 |
| ORCL Oracle Corp. | Add +0.1% | 0.40% | +0.04 |
| TJX TJX Companies Inc. | Add +1.1% | 1.50% | +0.04 |
| GD General Dynamics Corp. | Add +1.3% | 1.23% | +0.03 |
| JNJ Johnson & Johnson | Add +0.1% | 0.38% | +0.02 |
| TLT iShares 20+ Year Treasury BD | Add +33.3% | 0.11% | +0.02 |
| RTX RTX Corp. | Add +3.3% | 0.52% | +0.01 |
| GLD SPDR Gold Shares | Add +0.2% | 0.69% | +0.01 |
| LEN Lennar Corp. Class A | Add +2.2% | 0.68% | +0.01 |
| C Citigroup Inc. | Add +0.0% | 0.14% | +0.00 |
| BIT ORIGIN LTD | New | 0.00% | +0.00 |
| BX Blackstone Inc. | Add +0.5% | 0.09% | −0.00 |
| PSX Phillips 66 | Add +0.2% | 0.08% | −0.00 |
| ADAPY Adaptimmune Therapeutics-ADR | Add +3.6% | 0.00% | −0.00 |
| BTI British American Tob-SP ADR | Add +0.1% | 0.16% | −0.00 |
| MO Altria Group Inc. | Add +0.6% | 0.57% | −0.01 |
| MCD McDonald's Corp. | Add +1.2% | 0.10% | −0.01 |
| WFC Wells Fargo & Co. | Add +0.2% | 0.10% | −0.01 |
| OXY Occidental Petroleum Corp. | Add +0.3% | 0.51% | −0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 176 | $394.1M | ASTS, AMD, MU, SPY, IREN |
| Q1 2026 | 164 | $296.7M | SPY, IREN, AMD, HIMS, META |
| Q4 2025 | 161 | $305.2M | HIMS, ASTS, SPY, AMD, IREN |
| Q3 2025 | 162 | $320.2M | HIMS, LMND, ASTS, SPY, AMD |
| Q2 2025 | 160 | $278.1M | HIMS, SPY, MSTR, IBIT, META |
| Q1 2025 | 154 | $232.6M | IBIT, SPY, OFG, META, BRK.B |
| Q4 2024 | 163 | $243.3M | IBIT, SPY, META, OFG, JPM |
| Q3 2024 | 161 | $295.9M | BRK.A, IBIT, SPY, FBP, OFG |
| Q2 2024 | 157 | $276.3M | BRK.A, IBIT, FBP, OFG, SPY |
| Q1 2024 | 153 | $211.0M | IBIT, SPY, BPOP, AMD, META |