XTX Topco Ltd

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 12, 2025), XTX Topco Ltd reported 2,275 stock positions worth $2.4 billion. Its top holding was Nvidia (NVDA) at 0.8% of the portfolio, followed by Amazon.com (AMZN, 0.8%) and Philip Morris International (PM, 0.7%). Compared with Q1 2025, it opened 1,085 new positions, sold out of 1,140, added to 686 and reduced 503. The biggest buy was Nvidia (NVDA, shares +5213%) and the biggest sale an exit from CRH (CRH).

Most Recent 13F
Q2 2026
Location
LONDON, X0
CIK
0001828301
Portfolio Value
$2.4B (Q2 2025)
SEC Filing
0001828301-25-000027 ↗ filed Aug 12, 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 Q1 2025 Q2 2025: $2.4B $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 2,275 stocks · $2.4B
NVDA Nvidia Corp. 0.84% 127,925 $20.2M Add +5212.5%
AMZN Amazon.com Inc. 0.76% 83,425 $18.3M New
PM Philip Morris International 0.73% 96,250 $17.5M Add +1238.1%
MSFT Microsoft Corp. 0.68% 33,113 $16.5M New
BRK.B Berkshire Hathaway Inc. Class B 0.64% 31,832 $15.5M New
ORCL Oracle Corp. 0.63% 69,003 $15.1M Reduce -9.1%
ADBE Adobe Inc. 0.59% 37,002 $14.3M New
MCD McDonald's Corp. 0.59% 48,982 $14.3M Add +4.0%
PGR Progressive Corp. 0.57% 51,358 $13.7M New
V Visa Inc. Class A 0.52% 35,254 $12.5M New
APH Amphenol Corp. Class A 0.52% 126,368 $12.5M Add +793.3%
K Kellanova 0.50% 152,528 $12.1M Add +1026.0%
CME Cme Group Inc. 0.46% 40,000 $11.0M Reduce -29.1%
CVX Chevron Corp. 0.45% 75,847 $10.9M Add +128.6%
MA Mastercard Inc. Class A 0.44% 18,763 $10.5M Add +533.5%
C Citigroup Inc. 0.42% 117,968 $10.0M New
TGT Target Corp. 0.41% 100,927 $10.0M Add +107.6%
TMUS T-Mobile US Inc. 0.41% 41,170 $9.8M Add +82.6%
TMO Thermo Fisher Scientific Inc. 0.39% 23,466 $9.5M Add +47.6%
LLY Eli Lilly & Co. 0.37% 11,580 $9.0M New
AIG American International Group 0.35% 99,963 $8.6M New
ZTS Zoetis Inc. 0.35% 54,526 $8.5M Add +656.8%
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO 0.35% 26,362 $8.4M New
QQQ Invesco QQQ Trust Series 1 0.34% 14,807 $8.2M New
REGN Regeneron Pharmaceuticals 0.33% 15,305 $8.0M Add +320.7%
TSM Taiwan Semiconductor-SP ADR 0.33% 35,218 $8.0M Reduce -2.0%
DASH DoorDash Inc. Class A 0.33% 32,305 $8.0M Add +737.6%
KVUE Kenvue Inc. 0.33% 375,948 $7.9M New
TD Toronto-Dominion Bank 0.33% 106,991 $7.9M New
WM Waste Management Inc. 0.32% 34,110 $7.8M New
NOW ServiceNow Inc. 0.32% 7,561 $7.8M Add +273.6%
SU Suncor Energy Inc. 0.31% 202,047 $7.6M Add +2535.6%
GOOGL Alphabet Inc. Class A 0.31% 42,473 $7.5M New
EXE Expand Energy Corp. 0.30% 62,142 $7.3M Add +52.8%
IR Ingersoll-Rand Inc. 0.29% 85,333 $7.1M New
WFC Wells Fargo & Co. 0.29% 87,666 $7.0M New
AAPL Apple Inc. 0.29% 33,848 $6.9M New
RY Royal Bank of Canada 0.29% 52,546 $6.9M Add +23.5%
VTR Ventas Inc. 0.27% 102,642 $6.5M Add +422.2%
MSI Motorola Solutions Inc. 0.27% 15,332 $6.4M Add +112.0%
DTE DTE Energy Company 0.27% 48,553 $6.4M Add +1713.7%
ABNB Airbnb Inc. Class A 0.27% 48,494 $6.4M Reduce -2.7%
SNAP Snap Inc. Class A 0.27% 738,417 $6.4M New
ISRG Intuitive Surgical Inc. 0.26% 11,682 $6.3M Reduce -2.9%
TTWO Take-Two Interactive Softwre 0.26% 25,974 $6.3M Add +345.8%
BTI British American Tob-SP ADR 0.25% 129,145 $6.1M Add +76.5%
RBLX Roblox Corp. Class A 0.25% 57,923 $6.1M Reduce -21.7%
COIN Coinbase Global Inc. Class A 0.25% 17,318 $6.1M Add +349.9%
MO Altria Group Inc. 0.24% 99,795 $5.9M Add +46.3%
WDAY Workday Inc. Class A 0.24% 24,343 $5.8M Add +51.5%
STZ Constellation Brands Inc. Class A 0.24% 35,903 $5.8M Add +16.9%
XBI SS SPDR S&P Biotech ETF 0.24% 70,419 $5.8M New
RSG Republic Services Inc. 0.24% 23,545 $5.8M New
PNC PNC Financial Services Group 0.24% 31,061 $5.8M Add +31.2%
CLX Clorox Company 0.24% 47,994 $5.8M Add +191.0%
FERG Ferguson Enterprises Inc. 0.24% 26,344 $5.7M Add +90.8%
GM General Motors Co. 0.24% 115,344 $5.7M Add +430.7%
INSM Insmed Inc. 0.24% 56,380 $5.7M Add +165.3%
BMO Bank of Montreal filed as BANK MONTREAL QUE 0.23% 51,021 $5.6M Add +108.7%
CHD Church & Dwight Co. Inc. 0.23% 58,563 $5.6M New
HAL Halliburton Co. 0.23% 269,954 $5.5M Add +128.1%
SJM The JM Smucker Co. filed as SMUCKER J M CO 0.23% 55,657 $5.5M New
AVB Avalonbay Communities Inc. 0.23% 26,835 $5.5M New
DE Deere & Co. 0.23% 10,682 $5.4M Add +49.1%
RKLB Rocket Lab Corp. 0.22% 151,691 $5.4M New
USB US Bancorp 0.22% 119,059 $5.4M Add +1351.4%
ZM Zoom Communications Inc. 0.22% 69,007 $5.4M Add +145.0%
ARM Arm Holdings PLC-ADR 0.22% 33,250 $5.4M New
KMX Carmax Inc. 0.22% 79,972 $5.4M Add +323.9%
THC Tenet Healthcare Corp. 0.22% 29,699 $5.2M New
SEIC Sei Investments Company 0.22% 57,884 $5.2M New
BJ Bj's Wholesale Club Holdings filed as BJS WHSL CLUB HLDGS INC 0.21% 48,099 $5.2M Add +164.3%
JPM JPMorgan Chase & Co. 0.21% 17,842 $5.2M New
TFC Truist Financial Corp. 0.21% 119,727 $5.1M Add +384.2%
CDNS Cadence Design SYS Inc. 0.21% 16,524 $5.1M Add +284.7%
AIT Applied Industrial Tech Inc. 0.21% 21,528 $5.0M Add +353.8%
BRBR Bellring Brands Inc. 0.21% 85,657 $5.0M Add +325.9%
PLD Prologis Inc. 0.21% 47,141 $5.0M New
PRMB Primo Brands Corp. 0.20% 166,572 $4.9M Add +308.2%
FIS Fidelity National Info Serv 0.20% 60,528 $4.9M Add +3.7%
DAL Delta Air Lines Inc. 0.20% 99,909 $4.9M Reduce -43.4%
CM Can Imperial BK of Commerce filed as CANADIAN IMPERIAL BK COMM 0.20% 69,107 $4.9M Add +691.6%
KR Kroger Co. 0.20% 67,282 $4.8M New
MARA Mara Holdings Inc. 0.20% 307,172 $4.8M New
ON On Semiconductor 0.20% 91,461 $4.8M New
GS Goldman Sachs Group Inc. 0.20% 6,677 $4.7M Reduce -55.8%
CLH Clean Harbors Inc. 0.19% 20,226 $4.7M Add +106.5%
VLO Valero Energy Corp. 0.19% 34,387 $4.6M New
PKG Packaging Corp. of America 0.19% 24,086 $4.5M Add +33.0%
HSY The Hershey Co. 0.19% 27,295 $4.5M New
NTNX Nutanix Inc. Class A 0.19% 59,023 $4.5M New
BXP BXP Inc. 0.19% 66,757 $4.5M New
EXLS Exlservice Holdings Inc. 0.18% 101,598 $4.4M Add +497.8%
XYL Xylem Inc. 0.18% 34,152 $4.4M Add +1171.5%
NI Nisource Inc. 0.18% 109,038 $4.4M New
OMC Omnicom Group 0.18% 60,852 $4.4M New
HST Host Hotels & Resorts Inc. 0.18% 284,711 $4.4M New
EQT Eqt Corp. 0.18% 74,896 $4.4M Reduce -5.3%
MFC Manulife Financial Corp. 0.18% 136,545 $4.4M New
CNC Centene Corp. 0.18% 78,471 $4.3M Add +273.9%

Show all 2,275 holdings

Portfolio Sells Q1 2025 → Q2 2025
CRH CRH PLC Sold out 0.00% −0.60
JNJ Johnson & Johnson Sold out 0.00% −0.56
GE General Electric Reduce -95.4% 0.03% −0.55
NFLX Netflix Inc. Reduce -83.0% 0.13% −0.54
VRT Vertiv Holdings Co. Class A Sold out 0.00% −0.52
SPOT Spotify Technology SA Sold out 0.00% −0.46
ICE Intercontinental Exchange Inc. Sold out 0.00% −0.41
OKE Oneok Inc. Sold out 0.00% −0.36
UPS United Parcel Service Class B Reduce -91.1% 0.02% −0.35
YUM Yum! Brands Inc. Sold out 0.00% −0.35
BSX Boston Scientific Corp. Sold out 0.00% −0.34
ASML ASML Holding NV-NY Reg SHS Sold out 0.00% −0.31
BX Blackstone Inc. Reduce -77.9% 0.07% −0.31
CME Cme Group Inc. Reduce -29.1% 0.46% −0.31
BA The Boeing Co. Reduce -80.4% 0.07% −0.30
ANET Arista Networks Inc. Reduce -91.5% 0.03% −0.30
HLT Hilton Worldwide Holdings Inc. Sold out 0.00% −0.29
SHOP Shopify Inc. Class A Sold out 0.00% −0.29
ETN Eaton Corp. PLC Sold out 0.00% −0.28
NXPI NXP Semiconductors NV Sold out 0.00% −0.28
FLUT Flutter Entertainment PLC-Di Sold out 0.00% −0.27
BLD Topbuild Corp. Sold out 0.00% −0.26
AMAT Applied Materials Inc. Sold out 0.00% −0.26
CSX CSX Corp. Reduce -71.9% 0.09% −0.26
HON Honeywell International Inc. Sold out 0.00% −0.25
TDG Transdigm Group Inc. Sold out 0.00% −0.25
NTRA Natera Inc. Reduce -88.6% 0.03% −0.25
LVS Las Vegas Sands Corp. Sold out 0.00% −0.24
FISV Fiserv Inc. Reduce -61.2% 0.08% −0.23
GOOG Alphabet Inc. Class C Reduce -96.1% 0.01% −0.23
HSBC HSBC Holdings PLC-Spons ADR Reduce -85.1% 0.03% −0.23
DTM DT Midstream Inc. Sold out 0.00% −0.23
CEG Constellation Energy Sold out 0.00% −0.23
GS Goldman Sachs Group Inc. Reduce -55.8% 0.20% −0.23
TXRH Texas Roadhouse Inc. Sold out 0.00% −0.22
CHTR Charter Communications Inc. Class A Sold out 0.00% −0.22
KDP Keurig Dr Pepper Inc. Sold out 0.00% −0.22
WELL Welltower Inc. Reduce -79.6% 0.04% −0.22
WSM Williams-Sonoma Inc. Sold out 0.00% −0.22
IBKR Interactive Brokers Gro Class A Sold out 0.00% −0.22
DT Dynatrace Inc. Reduce -90.2% 0.02% −0.22
BABA Alibaba Group Holding-SP ADR Sold out 0.00% −0.21
RJF Raymond James Financial Inc. Reduce -94.9% 0.01% −0.21
MCHP Microchip Technology Inc. Reduce -69.6% 0.12% −0.21
DELL Dell Technologies -C Sold out 0.00% −0.20
WCN Waste Connections Inc. Sold out 0.00% −0.20
CP Canadian Pacific Kansas City Reduce -94.9% 0.01% −0.20
MRSH Marsh & McLennan Cos Sold out 0.00% −0.20
SNPS Synopsys Inc. Sold out 0.00% −0.20
OKTA Okta Inc. Sold out 0.00% −0.19

Portfolio Buys Q1 2025 → Q2 2025
NVDA Nvidia Corp. Add +5212.5% 0.84% +0.82
AMZN Amazon.com Inc. New 0.76% +0.76
MSFT Microsoft Corp. New 0.68% +0.68
PM Philip Morris International Add +1238.1% 0.73% +0.67
BRK.B Berkshire Hathaway Inc. Class B New 0.64% +0.64
ADBE Adobe Inc. New 0.59% +0.59
PGR Progressive Corp. New 0.57% +0.57
V Visa Inc. Class A New 0.52% +0.52
APH Amphenol Corp. Class A Add +793.3% 0.52% +0.47
K Kellanova Add +1026.0% 0.50% +0.45
C Citigroup Inc. New 0.42% +0.42
LLY Eli Lilly & Co. New 0.37% +0.37
AIG American International Group New 0.35% +0.35
MA Mastercard Inc. Class A Add +533.5% 0.44% +0.35
AJG Arthur J Gallagher & Co. New 0.35% +0.35
QQQ Invesco QQQ Trust Series 1 New 0.34% +0.34
KVUE Kenvue Inc. New 0.33% +0.33
TD Toronto-Dominion Bank New 0.33% +0.33
WM Waste Management Inc. New 0.32% +0.32
GOOGL Alphabet Inc. Class A New 0.31% +0.31
SU Suncor Energy Inc. Add +2535.6% 0.31% +0.30
IR Ingersoll-Rand Inc. New 0.29% +0.29
DASH DoorDash Inc. Class A Add +737.6% 0.33% +0.29
ZTS Zoetis Inc. Add +656.8% 0.35% +0.29
WFC Wells Fargo & Co. New 0.29% +0.29
AAPL Apple Inc. New 0.29% +0.29
SNAP Snap Inc. Class A New 0.27% +0.27
DTE DTE Energy Company Add +1713.7% 0.27% +0.25
XBI SS SPDR S&P Biotech ETF New 0.24% +0.24
RSG Republic Services Inc. New 0.24% +0.24
NOW ServiceNow Inc. Add +273.6% 0.32% +0.24
CHD Church & Dwight Co. Inc. New 0.23% +0.23
SJM The JM Smucker Co. New 0.23% +0.23
AVB Avalonbay Communities Inc. New 0.23% +0.23
RKLB Rocket Lab Corp. New 0.22% +0.22
ARM Arm Holdings PLC-ADR New 0.22% +0.22
COIN Coinbase Global Inc. Class A Add +349.9% 0.25% +0.22
THC Tenet Healthcare Corp. New 0.22% +0.22
SEIC Sei Investments Company New 0.22% +0.22
REGN Regeneron Pharmaceuticals Add +320.7% 0.33% +0.22
JPM JPMorgan Chase & Co. New 0.21% +0.21
USB US Bancorp Add +1351.4% 0.22% +0.21
PLD Prologis Inc. New 0.21% +0.21
KR Kroger Co. New 0.20% +0.20
MARA Mara Holdings Inc. New 0.20% +0.20
TTWO Take-Two Interactive Softwre Add +345.8% 0.26% +0.20
VTR Ventas Inc. Add +422.2% 0.27% +0.20
ON On Semiconductor New 0.20% +0.20
VLO Valero Energy Corp. New 0.19% +0.19
HSY The Hershey Co. New 0.19% +0.19

Notes & Other Activity Q1 2025 → Q2 2025
MSPRW MSP Recovery Inc. -27 *W EXP 05/20/202 Sold out 858,922 $3Kbefore exit

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages 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