XTX Topco Ltd

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 8, 2025), XTX Topco Ltd reported 2,330 stock positions worth $2.0 billion. Its top holding was Cme (CME) at 0.8% of the portfolio, followed by McDonald's (MCD, 0.8%) and Netflix (NFLX, 0.7%). Compared with Q4 2024, it opened 1,108 new positions, sold out of 984, added to 782 and reduced 439. The biggest buy was a new position in McDonald's (MCD) and the biggest sale an exit from Unitedhealth (UNH).

Most Recent 13F
Q2 2026
Location
LONDON, X0
CIK
0001828301
Portfolio Value
$2.0B (Q1 2025)
SEC Filing
0001828301-25-000025 ↗ filed May 8, 2025

Holdings Value

0$2.0B$4.0B$6.0B$8.0B Q1 2024: $741.8M Q1 2024 Q2 2024: $1.2B Q2 2024 Q3 2024: $1.4B Q3 2024 Q4 2024: $1.2B Q4 2024 Q1 2025: $2.0B $2.0B Q1 2025 Q2 2025: $2.4B Q2 2025 Q3 2025: $1.9B Q3 2025 Q4 2025: $3.8B Q4 2025 Q1 2026: $5.8B Q1 2026 Q2 2026: $7.7B Q2 2026

Holdings 2,330 stocks · $2.0B
CME Cme Group Inc. 0.77% 56,377 $15.0M Add +40.9%
MCD McDonald's Corp. 0.75% 47,119 $14.7M New
NFLX Netflix Inc. 0.68% 14,211 $13.3M Add +1066.8%
CRH CRH PLC 0.60% 133,764 $11.8M Add +905.0%
GE General Electric filed as GE AEROSPACE 0.57% 56,165 $11.2M Add +1574.1%
JNJ Johnson & Johnson 0.56% 66,246 $11.0M Add +132.4%
ORCL Oracle Corp. 0.54% 75,923 $10.6M Add +288.2%
VRT Vertiv Holdings Co. Class A 0.52% 140,507 $10.1M Add +6249.2%
SPOT Spotify Technology SA 0.46% 16,183 $8.9M New
GS Goldman Sachs Group Inc. 0.42% 15,120 $8.3M Add +4135.3%
ICE Intercontinental Exchange Inc. 0.41% 46,926 $8.1M Add +77.6%
TMO Thermo Fisher Scientific Inc. 0.40% 15,901 $7.9M Add +684.5%
DAL Delta Air Lines Inc. 0.39% 176,641 $7.7M Add +624.1%
BX Blackstone Inc. 0.38% 53,365 $7.5M New
UPS United Parcel Service Class B 0.38% 67,039 $7.4M New
BA The Boeing Co. 0.38% 43,201 $7.4M Add +342.7%
OKE Oneok Inc. 0.36% 71,466 $7.1M Add +228.3%
YUM Yum! Brands Inc. 0.35% 43,603 $6.9M Add +49.5%
CSX CSX Corp. 0.35% 231,249 $6.8M Add +397.0%
BSX Boston Scientific Corp. 0.34% 66,516 $6.7M New
ANET Arista Networks Inc. 0.33% 84,112 $6.5M Add +1155.6%
MCHP Microchip Technology Inc. 0.33% 131,847 $6.4M New
FISV Fiserv Inc. 0.31% 27,571 $6.1M Add +12.8%
ASML ASML Holding NV-NY Reg SHS 0.31% 9,157 $6.1M Add +487.4%
TMUS T-Mobile US Inc. 0.31% 22,548 $6.0M Add +61.9%
TSM Taiwan Semiconductor-SP ADR 0.31% 35,946 $6.0M Add +480.0%
ISRG Intuitive Surgical Inc. 0.30% 12,027 $6.0M New
ABNB Airbnb Inc. Class A 0.30% 49,857 $6.0M Add +481.1%
HLT Hilton Worldwide Holdings Inc. 0.29% 25,175 $5.7M Add +32.5%
SHOP Shopify Inc. Class A 0.29% 59,800 $5.7M New
STZ Constellation Brands Inc. Class A 0.29% 30,707 $5.6M Add +2019.2%
CVX Chevron Corp. 0.28% 33,180 $5.6M New
NTRA Natera Inc. 0.28% 38,851 $5.5M Add +1022.9%
ETN Eaton Corp. PLC 0.28% 20,179 $5.5M Add +440.6%
NXPI NXP Semiconductors NV 0.28% 28,805 $5.5M New
FLUT Flutter Entertainment PLC-Di 0.27% 24,106 $5.3M Add +1249.0%
HSBC HSBC Holdings PLC-Spons ADR filed as HSBC HLDGS PLC 0.27% 90,285 $5.2M Add +145.4%
WELL Welltower Inc. 0.26% 33,784 $5.2M New
BLD Topbuild Corp. 0.26% 16,796 $5.1M Add +335.9%
AMAT Applied Materials Inc. 0.26% 35,280 $5.1M Add +790.9%
TGT Target Corp. 0.26% 48,625 $5.1M Add +379.6%
HON Honeywell International Inc. 0.25% 23,405 $5.0M New
TDG Transdigm Group Inc. 0.25% 3,579 $5.0M Add +688.3%
RY Royal Bank of Canada 0.25% 42,562 $4.8M Add +203.2%
SNOW Snowflake Inc. 0.24% 32,718 $4.8M New
GOOG Alphabet Inc. Class C 0.24% 30,169 $4.7M Add +22.9%
LVS Las Vegas Sands Corp. 0.24% 121,593 $4.7M Add +229.8%
DT Dynatrace Inc. 0.24% 98,721 $4.7M Add +1563.7%
BUD Anheuser-Busch Inbev-SPN ADR 0.24% 75,102 $4.6M Add +111.9%
CIEN Ciena Corp. 0.23% 75,319 $4.6M Add +245.0%
EXE Expand Energy Corp. 0.23% 40,682 $4.5M New
DTM DT Midstream Inc. 0.23% 46,797 $4.5M Add +405.2%
CEG Constellation Energy 0.23% 22,387 $4.5M Add +183.2%
NKE Nike Inc. Class B 0.23% 69,338 $4.4M Add +121.6%
FIS Fidelity National Info Serv 0.22% 58,383 $4.4M Add +92.3%
TXRH Texas Roadhouse Inc. 0.22% 26,156 $4.4M New
CHTR Charter Communications Inc. Class A 0.22% 11,800 $4.3M New
KDP Keurig Dr Pepper Inc. 0.22% 126,572 $4.3M New
RBLX Roblox Corp. Class A 0.22% 74,017 $4.3M Add +301.4%
RJF Raymond James Financial Inc. 0.22% 30,940 $4.3M Add +714.9%
WSM Williams-Sonoma Inc. 0.22% 27,096 $4.3M New
APO Apollo Global Management Inc. 0.22% 31,085 $4.3M Add +106.2%
IBKR Interactive Brokers Gro Class A 0.22% 25,703 $4.3M Add +50.4%
EQT Eqt Corp. 0.22% 79,111 $4.2M Reduce -0.7%
BABA Alibaba Group Holding-SP ADR 0.21% 31,730 $4.2M New
MAR Marriott International Class A 0.21% 17,500 $4.2M New
PNC PNC Financial Services Group 0.21% 23,677 $4.2M Add +193.9%
CTAS Cintas Corp. 0.21% 20,027 $4.1M Add +1604.4%
CP Canadian Pacific Kansas City 0.21% 58,407 $4.1M Add +239.4%
MO Altria Group Inc. 0.21% 68,192 $4.1M New
PPC Pilgrim's Pride Corp. 0.20% 73,390 $4.0M New
DELL Dell Technologies -C 0.20% 43,568 $4.0M New
WCN Waste Connections Inc. 0.20% 20,271 $4.0M Add +39.6%
CVNA Carvana Co. 0.20% 18,752 $3.9M New
LSCC Lattice Semiconductor Corp. 0.20% 74,663 $3.9M New
MRSH Marsh & McLennan Cos 0.20% 15,786 $3.9M Add +1004.7%
SNPS Synopsys Inc. 0.20% 8,964 $3.8M Add +1807.2%
OKTA Okta Inc. 0.19% 35,968 $3.8M Add +765.5%
WDAY Workday Inc. Class A 0.19% 16,064 $3.8M Add +571.0%
ALK Alaska Air Group Inc. 0.19% 76,063 $3.7M New
SRE Sempra 0.19% 52,230 $3.7M New
PDD PDD Holdings Inc. 0.19% 31,420 $3.7M New
WMB Williams Cos Inc. 0.19% 62,219 $3.7M Add +1003.4%
DKNG Draftkings Inc. Class A 0.19% 111,878 $3.7M New
FCX Freeport-McMoran Inc. 0.19% 96,738 $3.7M Add +689.8%
MDB Mongodb Inc. 0.19% 20,683 $3.6M Add +1041.5%
RCL Royal Caribbean Cruises Ltd. 0.19% 17,626 $3.6M New
DOCS Doximity Inc. Class A 0.18% 61,966 $3.6M New
PKG Packaging Corp. of America 0.18% 18,113 $3.6M Add +130.9%
SO The Southern Co. 0.18% 38,840 $3.6M Add +27.4%
EA Electronic Arts Inc. 0.18% 24,703 $3.6M Add +627.6%
D Dominion Energy Inc. 0.18% 63,404 $3.6M Add +944.5%
MS Morgan Stanley 0.18% 30,020 $3.5M Add +365.8%
XYZ Block Inc. 0.18% 63,798 $3.5M Add +283.9%
RSP Invesco S&P 500 Equal Weight 0.18% 19,997 $3.5M Add +224.7%
CMI Cummins Inc. 0.18% 11,017 $3.5M Add +396.7%
SCI Service Corp. International 0.17% 42,170 $3.4M Add +476.3%
DE Deere & Co. 0.17% 7,166 $3.4M Add +235.2%
ZS Zscaler Inc. 0.17% 16,750 $3.3M Add +1018.2%
WEC WEC Energy Group Inc. 0.17% 30,286 $3.3M Add +16.9%

Show all 2,330 holdings

Other holdings (1): bonds, preferreds, convertibles and warrants · $3K (not counted above)
SecurityClassShares / PrincipalValueChange
MSPRW MSP Recovery Inc. -27 *W EXP 05/20/202 858,922$3KNo change

Total filed on the 13F, all lines: $2.0B.

Portfolio Sells Q4 2024 → Q1 2025
UNH Unitedhealth Group Inc. Sold out 0.00% −0.84
NVDA Nvidia Corp. Reduce -95.7% 0.01% −0.62
TSLA Tesla Inc. Reduce -94.6% 0.01% −0.60
WMT Walmart Inc. Sold out 0.00% −0.46
MSFT Microsoft Corp. Sold out 0.00% −0.44
FDX FedEx Corp. Reduce -94.3% 0.01% −0.42
AMZN Amazon.com Inc. Sold out 0.00% −0.40
BDX Becton Dickinson and Co. Sold out 0.00% −0.39
KO The Coca-Cola Co. Sold out 0.00% −0.38
AFL Aflac Inc. Sold out 0.00% −0.35
SPY SS SPDR S&P 500 ETF Trust-US Sold out 0.00% −0.34
KR Kroger Co. Sold out 0.00% −0.34
BNY Bank of New York Mellon Corp. Sold out 0.00% −0.31
UL Unilever PLC Reduce -82.4% 0.04% −0.30
NVR NVR Inc. Sold out 0.00% −0.29
AVGO Broadcom Inc. Reduce -51.0% 0.08% −0.28
CRWD CrowdStrike Holdings Inc. Class A Sold out 0.00% −0.27
ABT Abbott Laboratories Sold out 0.00% −0.27
QQQ Invesco QQQ Trust Series 1 Sold out 0.00% −0.26
KMI Kinder Morgan Inc. Reduce -66.8% 0.07% −0.25
CRM Salesforce Inc. Reduce -29.8% 0.13% −0.25
AZN Astrazeneca PLC-Spons ADR Reduce -62.4% 0.08% −0.24
UBER Uber Technologies Inc. Sold out 0.00% −0.24
MSTR Strategy Inc. Sold out 0.00% −0.23
SHW The Sherwin-Williams Co. Reduce -90.6% 0.01% −0.23
LNG Cheniere Energy Inc. Reduce -47.9% 0.12% −0.23
CHE Chemed Corp. Reduce -92.4% 0.01% −0.22
ARCC Ares Capital Corp. Sold out 0.00% −0.22
TPL Texas Pacific Land Corp. Sold out 0.00% −0.22
APH Amphenol Corp. Class A Reduce -68.7% 0.05% −0.22
GWW WW Grainger Inc. Sold out 0.00% −0.21
PM Philip Morris International Reduce -73.1% 0.06% −0.21
PPG PPG Industries Inc. Sold out 0.00% −0.21
ACN Accenture PLC Class A Sold out 0.00% −0.21
CHKP Check Point Software Tech Sold out 0.00% −0.21
ULTA Ulta Beauty Inc. Sold out 0.00% −0.21
QCOM Qualcomm Inc. Reduce -88.5% 0.01% −0.20
EMR Emerson Electric Co. Sold out 0.00% −0.20
META Meta Platforms Inc. Class A Sold out 0.00% −0.19
ESS Essex Property Trust Inc. Sold out 0.00% −0.19
HBAN Huntington Bancshares Inc. Sold out 0.00% −0.19
AME Ametek Inc. Sold out 0.00% −0.18
L Loews Corp. Reduce -90.8% 0.01% −0.18
NI Nisource Inc. Sold out 0.00% −0.18
LMT Lockheed Martin Corp. Sold out 0.00% −0.17
LCID Lucid Group Inc. Reduce -59.5% 0.04% −0.17
CNP Centerpoint Energy Inc. Sold out 0.00% −0.16
TJX TJX Companies Inc. Sold out 0.00% −0.16
IR Ingersoll-Rand Inc. Sold out 0.00% −0.16
LULU Lululemon Athletica Inc. Reduce -39.0% 0.06% −0.16

Portfolio Buys Q4 2024 → Q1 2025
MCD McDonald's Corp. New 0.75% +0.75
NFLX Netflix Inc. Add +1066.8% 0.68% +0.59
GE General Electric Add +1574.1% 0.57% +0.53
CRH CRH PLC Add +905.0% 0.60% +0.50
VRT Vertiv Holdings Co. Class A Add +6249.2% 0.52% +0.50
SPOT Spotify Technology SA New 0.46% +0.46
GS Goldman Sachs Group Inc. Add +4135.3% 0.42% +0.41
BX Blackstone Inc. New 0.38% +0.38
UPS United Parcel Service Class B New 0.38% +0.38
BSX Boston Scientific Corp. New 0.34% +0.34
MCHP Microchip Technology Inc. New 0.33% +0.33
TMO Thermo Fisher Scientific Inc. Add +684.5% 0.40% +0.32
ISRG Intuitive Surgical Inc. New 0.30% +0.30
SHOP Shopify Inc. Class A New 0.29% +0.29
CVX Chevron Corp. New 0.28% +0.28
NXPI NXP Semiconductors NV New 0.28% +0.28
ANET Arista Networks Inc. Add +1155.6% 0.33% +0.27
DAL Delta Air Lines Inc. Add +624.1% 0.39% +0.27
ORCL Oracle Corp. Add +288.2% 0.54% +0.27
WELL Welltower Inc. New 0.26% +0.26
STZ Constellation Brands Inc. Class A Add +2019.2% 0.29% +0.26
HON Honeywell International Inc. New 0.25% +0.25
SNOW Snowflake Inc. New 0.24% +0.24
NTRA Natera Inc. Add +1022.9% 0.28% +0.24
FLUT Flutter Entertainment PLC-Di Add +1249.0% 0.27% +0.23
BA The Boeing Co. Add +342.7% 0.38% +0.23
EXE Expand Energy Corp. New 0.23% +0.23
TXRH Texas Roadhouse Inc. New 0.22% +0.22
CHTR Charter Communications Inc. Class A New 0.22% +0.22
CSX CSX Corp. Add +397.0% 0.35% +0.22
KDP Keurig Dr Pepper Inc. New 0.22% +0.22
ASML ASML Holding NV-NY Reg SHS Add +487.4% 0.31% +0.22
WSM Williams-Sonoma Inc. New 0.22% +0.22
JNJ Johnson & Johnson Add +132.4% 0.56% +0.22
BABA Alibaba Group Holding-SP ADR New 0.21% +0.21
MAR Marriott International Class A New 0.21% +0.21
DT Dynatrace Inc. Add +1563.7% 0.24% +0.21
ABNB Airbnb Inc. Class A Add +481.1% 0.30% +0.21
MO Altria Group Inc. New 0.21% +0.21
AMAT Applied Materials Inc. Add +790.9% 0.26% +0.21
TDG Transdigm Group Inc. Add +688.3% 0.25% +0.20
PPC Pilgrim's Pride Corp. New 0.20% +0.20
DELL Dell Technologies -C New 0.20% +0.20
TSM Taiwan Semiconductor-SP ADR Add +480.0% 0.31% +0.20
CVNA Carvana Co. New 0.20% +0.20
LSCC Lattice Semiconductor Corp. New 0.20% +0.20
CTAS Cintas Corp. Add +1604.4% 0.21% +0.19
ALK Alaska Air Group Inc. New 0.19% +0.19
SRE Sempra New 0.19% +0.19
PDD PDD Holdings Inc. New 0.19% +0.19

Options Activity Q4 2024 → Q1 2025
TSLA Tesla Inc. call Sold out 22,200 $9.0Mbefore exit
TSLA Tesla Inc. put Sold out 18,600 $7.5Mbefore exit
META Meta Platforms Inc. Class A call Sold out 3,100 $1.8Mbefore exit
NVDA Nvidia Corp. put Sold out 13,000 $1.7Mbefore exit
NVDA Nvidia Corp. call Sold out 12,700 $1.7Mbefore exit
META Meta Platforms Inc. Class A put Sold out 1,600 $937Kbefore exit
GOOG Alphabet Inc. Class C call Sold out 4,900 $928Kbefore exit
AMZN Amazon.com Inc. put Sold out 3,700 $812Kbefore exit
AMZN Amazon.com Inc. call Sold out 1,700 $373Kbefore exit

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 4,087$7.7BCVX, BRK.B, SMH, CME, NFLX
Q1 2026 3,773$5.8BEWY, SPY, DIA, CME, NVDA
Q4 2025 3,255$3.8BPG, JPM, NVDA, SPY, AAPL
Q3 2025 2,485$1.9BNVDA, QQQ, JNJ, CME, TMO
Q2 2025 2,275$2.4BNVDA, AMZN, PM, MSFT, BRK.B
Q1 2025 2,330$2.0BCME, MCD, NFLX, CRH, GE
Q4 2024 2,206$1.2BUNH, CME, NVDA, TSLA, WMT
Q3 2024 2,013$1.4BV, NFLX, META, NVDA, CME
Q2 2024 1,784$1.2BAAPL, META, MSFT, GOOG, CVX
Q1 2024 1,775$741.8MSMCI, TSLA, META, GE, REGN