XBP · XBP Global Holdings, Inc. · Holdings

$2.66 -0.15 (-5.34%) Q2 2026 earnings call transcript

Market Cap

$34.52M

11.88M

Volume · Oct 28 5862 Avg daily vol (3M) 16.96K

Institutional ownership from SEC Form 13F filings. Investment managers with more than $100 million in U.S. equities must disclose their positions every quarter, within 45 days of quarter-end, so the holdings shown can lag the market by up to a quarter.

Use institutional holdings through the 13F API or MCP → See every holder of XBP: 13F, 13D and 13G, insiders and funds →

The Sep 30, 2026 filing window is still open — showing the latest known positions. Funds that have not filed yet carry their prior-quarter positions; a fund that filed without this stock counts as sold out. Each fund's Change is measured against its own previous reported quarter, shown in the Reported column. Pick a completed quarter in the Quarter selector below to put every fund on one quarter and see the stock-wide activity breakdown.

Quarter:

Holders: 50

Total Value: $13,753,023

Total Shares: 9,289,621

Institutional Ownership Trend

22 quarters

Holder Concentration

Across 50 13F filers

Top Holder

53.9%

of institutional value

Top 5

86.8%

of institutional value

Top 10

95.4%

of institutional value

HHI

3,303

Highly concentrated

Who Holds XBP

Last 8 quarters through Sep 30, 2026 (filing window open)

Each kind of 13F filer's share of the common shares 13F filers report. Holder type comes from regulatory records, never the filer's name; style, turnover and horizon are measured from each filer's own 13F book. The quarter selector does not change this card.

Jun 30, 2026, the newest closed quarter: 49 filers, like-for-like change -0.7%; actively managed books -0.7%; index-like books -0.5%.

Holder type	Share	Filers	Change	Exited
Registered adviser	59.3%	16	-1.1%	1
Exempt adviser	0.3%	1	0.0%	0
Adviser	9.6%	3	0.0%	0
Bank	5.3%	7	-6.3%	0
Benefit plan	0.1%	1	0.0%	0
Non-US	2.2%	3	0.0%	0
Holding company	2.7%	4	+1.1%	0
Broker-dealer	0.0%	0	—	0
Unknown	20.6%	14	+1.3%	1

Style	Share	Filers	Change	Exited
Index-like	6.0%	9	-0.5%	0
Systematic-like	1.0%	2	0.0%	0
Concentrated	24.0%	10	+0.8%	1
Diversified active	69.0%	27	-1.2%	1
Unknown	0.0%	1	0.0%	0
Not measured	0.0%	0	—	0

Turnover	Share	Filers	Change	Exited
Low turnover	15.4%	18	-3.2%	0
Medium turnover	71.8%	17	0.0%	1
High turnover	5.9%	10	-3.2%	1
Unknown	6.9%	4	0.0%	0
Not measured	0.0%	0	—	0

Holding horizon	Share	Filers	Change	Exited
Short horizon	26.0%	11	0.0%	0
Medium horizon	25.9%	12	-1.6%	2
Long horizon	46.9%	23	-0.6%	0
Unknown	1.2%	3	-0.1%	0
Not measured	0.0%	0	—	0

13F book size	Share	Filers	Change	Exited
Under $1B	7.8%	7	-2.9%	1
$1B to $10B	70.5%	15	-0.2%	1
$10B to $100B	9.9%	8	0.0%	0
$100B or more	11.8%	19	-2.6%	0
Not measured	0.0%	0	—	0

Client base	Share	Filers	Change	Exited
Individuals and high net worth	0.1%	2	+36.2%	0
Pooled investment vehicles	56.4%	9	-1.1%	1
Registered funds and BDCs	2.7%	2	-1.7%	0
Pension and profit sharing plans	0.0%	1	0.0%	0
Corporations	0.0%	1	0.0%	0
Diversified	0.0%	1	0.0%	0
Unknown	40.7%	33	-0.1%	1

Private funds	Share	Filers	Change	Exited
Hedge funds	56.4%	8	-1.1%	1
Private equity funds	0.0%	1	0.0%	0
Venture capital funds	0.1%	1	+38.5%	0
Securitized asset funds	0.0%	1	0.0%	0
Private funds, type not stated	0.3%	1	0.0%	0
No private funds	2.8%	5	-1.6%	0
Other private funds	0.0%	0	—	0
Unknown	40.4%	32	-0.1%	1

Location	Share	Filers	Change	New	Exited
United States	90.3%	38	-0.8%	0	2
Outside the US	9.7%	11	+0.1%	0	0

The Sep 30, 2026 filing window is still open, so its bar carries the Jun 30, 2026 positions of filers that have not filed yet.

How the mix is measured

Shares are 13F common shares restated to today's split basis; options and principal amounts are left out. The change compares only filers with a 13F in both quarters and keeps each filer in its bucket of the later quarter on both sides; a filer that continues under a new CIK is compared through its successor. Holder type comes from each filer's current regulatory profile; client base and private funds come from the Form ADV roster current at each quarter end (rosters from December 2019, so an earlier quarter reads Unknown). Style, turnover, horizon and book size are measured from each filer's 13F book in the newest measured quarter, and Not measured means none was. Actively managed books are those measured systematic-like, concentrated or diversified active.

Conviction and Crowding

27 13F filers, quarter ended Jun 30, 2026

Measured across every 13F filer's common-share book once the quarter's filing window closed. Crowding counts filers with high turnover or that advise private funds on Form ADV.

Conviction holders

0.000% of filers hold it in their top 10

Mar 31, 2026: 0

Holders above 5%

median weight 0.000%

Mar 31, 2026: 0

Crowding

27.9%

of shares outstanding, 78th percentile

Mar 31, 2026: 28.5%

Private-fund advisers

27.2%

of shares outstanding

Institutional ownership

49.7%

236.1% of the estimated free float above 100%: filers can report lent or client shares more than once

Top 10 holders

96.6%

of 13F shares, Herfindahl 0.339

Active holders

-1.2%

like-for-like share change of active filers

5% stakes on record

6 13D, 0 13G

How long holders have held it value-weighted 5.3 quarters

Under 1 year 3.46% 1 to 3 years 96.5% 3 years or more 0.000% Since coverage start 0.000%

Managers in the top fifth by current three-year FundScore alpha were net buyers of $0 (0 buying, 0 selling).

Estimated Holder Cost Basis

Quarter ended Jun 30, 2026, on that quarter's share basis

Estimated, never filed: each 13F buy is costed at its quarter's average traded price and each sale keeps the average cost, so this is what holders paid on average if they traded evenly through each quarter.

Estimated avg cost

$8.13

estimated per share

Mar 31, 2026: $8.14

Quarter-end price

$2.32

implied by 13F values

Estimated gain or loss

-71.5%

price against the estimated cost

Estimated at a loss

100.0%

of costed 13F value

Estimated cost covers 73.9% of the 13F shares; positions already held when a filer's 13F history starts, or bought in a quarter without a trusted average price, have no estimate.

Shared Holders

Companies XBP's active holders also own, quarter ended Sep 30, 2025

#	Company	Shared holders	Similarity
1	NKE NIKE, Inc.	3	0.035
2	AMD Advanced Micro Devices Inc	3	0.025
3	META Meta Platforms, Inc.	3	0.016
4	AMZN Amazon Com Inc	3	0.014

Shareholder Targets

13F filers that own its peers but not XBP, quarter ended Sep 30, 2025

Found through its holder-overlap peers: NKE, AMD, META, AMZN. 5,909 filers in all.

#	Filer	In peers	Of book	Largest peers
1	FMR LLC Holding company, Diversified active	$170,911,639,549 4 held	9.01%	META, AMZN, NKE
2	PRICE T ROWE ASSOCIATES INC /MD/ Registered adviser, Diversified active	$63,400,486,898 4 held	6.87%	AMZN, META, AMD
3	Capital World Investors Adviser, Diversified active	$41,348,952,690 4 held	5.69%	META, AMZN, NKE
4	Capital Research Global Investors Adviser, Diversified active	$38,465,386,154 3 held	7.26%	AMZN, META, AMD
5	Capital International Investors Adviser, Diversified active	$32,308,961,275 3 held	5.26%	META, AMZN, NKE
6	Invesco Ltd. Adviser, Diversified active	$28,307,643,470 4 held	4.52%	AMZN, META, AMD
7	Bank of New York Mellon Corp Bank, Index-like	$28,161,191,288 4 held	5.10%	AMZN, META, AMD
8	UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Registered adviser, Index-like	$27,639,239,357 4 held	6.02%	AMZN, META, AMD
9	CHARLES SCHWAB INVESTMENT MANAGEMENT INC Registered adviser, Diversified active	$27,062,801,380 4 held	4.36%	AMZN, META, AMD
10	Legal & General Group Plc Unknown, Index-like	$25,361,652,499 4 held	5.71%	AMZN, META, AMD

Fund Ownership of XBP by Fund Type

Registered funds' Form N-PORT reports for the quarter ended Jun 30, 2026

Index funds and index ETFs hold 2.19% of shares outstanding.

Fund type	Of shares outstanding	Change	Shares	Funds
Index funds	0.91%	+0.03 pp	108,068	4
Index ETFs	1.28%	+0.02 pp	152,643	2
Active ETFs	0.00%	0.00 pp	0	0
Active funds	0.92%	0.00 pp	108,747	16
Unclassified	0.00%	0.00 pp	0	0
All registered funds	3.11%	+0.05 pp	369,458	22

How fund types are measured

Each fund series counts once, with its latest Form N-PORT report dated inside the quarter; only long share positions count, restated to today's split basis. The fund type is the series' latest Form N-CEN answer on or before the quarter end (the index-fund box and the exchange-traded flag), never its name. Unclassified funds have no usable N-CEN; unit investment trusts are among them, so index ownership is a floor. Funds sit inside their advisers' 13F reports, so these shares overlap the 13F figures and are never added to them.

Holder type: Registered adviser 16 Exempt adviser 1 Adviser 3 Bank 7 Benefit plan 1 Non-US 3 Holding company 4 Unknown 15

Showing 50 of 50

All Common Calls Puts

Compact Export CSV

Holder

Value (USD)

% of 13F

Gates Capital Management, Inc.

$7,408,105

53.87%

3,193,149

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Gates Capital Management, L.P.	3,193,149	$7,408,105	100.0%	Defined

CANTOR FITZGERALD, L. P.

$1,898,035

13.80%

818,119

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Cantor Fitzgerald & Co.	211,679	$491,095	25.9%	Defined
Held directly	606,440	$1,406,940	74.1%	Defined

HoldCo Asset Management, LP

$1,826,167

13.28%

787,141

BlackRock, Inc.

$409,910

2.98%

176,686

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
BlackRock Investment Management, LLC	1,362	$3,159	0.8%	Sole
BlackRock Fund Advisors	25,260	$58,603	14.3%	Sole
BlackRock Institutional Trust Company, N.A.	150,064	$348,148	84.9%	Sole

Allianz Asset Management GmbH

$391,502

2.85%

168,751

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Pacific Investment Management Company LLC	168,751	$391,502	100.0%	Defined

VANGUARD CAPITAL MANAGEMENT LLC

$295,528

2.15%

127,383

BANK OF AMERICA CORP /DE/

$291,577

2.12%

125,680

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
BOFA SECURITIES, INC.	125,680	$291,577	100.0%	Defined

GEODE CAPITAL MANAGEMENT, LLC

$287,532

2.09%

123,937

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
GEODE CAPITAL MANAGEMENT TRUST COMPANY, LLC	19,584	$45,434	15.8%	Defined
Held directly	104,353	$242,098	84.2%	Defined

BRC Group Holdings, Inc.

$170,884

1.24%

73,657

VANGUARD FIDUCIARY TRUST CO

$135,019

0.98%

58,198

Jefferies Financial Group Inc.

$126,692

0.92%

54,609

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
JEFFERIES LLC	54,609	$126,692	100.0%	Defined

Shay Capital LLC

$58,000

0.42%

25,000

NORTHERN TRUST CORP

$54,427

0.40%

23,460

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
NORTHERN TRUST CO joint	23,460	$54,427	100.0%	Defined

STATE STREET CORP

$52,687

0.38%

22,710

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
STATE STREET GLOBAL ADVISORS TRUST COMPANY	22,710	$52,687	100.0%	Defined

Linden Advisors LP XBPEW

$49,926

0.36%

1,040,133

BROOKFIELD Corp /ON/

$45,659

0.33%

19,681

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
BAM Credit & Insurance Solutions Advisor LLC	19,681	$45,659	100.0%	Defined

GOLDMAN SACHS GROUP INC

$41,458

0.30%

17,870

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
GOLDMAN SACHS & CO. LLC	17,870	$41,458	100.0%	Defined

National Philanthropic Trust

$35,939

0.26%

15,491

Anson Funds Management LP XBPEW

$29,086

0.21%

12,537

ARISTEIA CAPITAL, L.L.C. XBPEW

$22,057

0.16%

459,524

Crewe Advisors LLC

$20,880

0.15%

9,000

Clear Street Group Inc. XBPEW

$20,589

0.15%

446,611

TORONTO DOMINION BANK XBPEW

$14,221

0.10%

309,159

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
TD SECURITIES (USA) LLC	309,159	$14,221	100.0%	Defined

K2 PRINCIPAL FUND, L.P. XBPEW

$11,665

0.08%

233,305

Vanguard Global Advisers, LLC

$9,140

0.07%

3,940

Tower Research Capital LLC (TRC)

$8,713

0.06%

3,756

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Latour Trading LLC (Latour)	3,756	$8,713	100.0%	Defined

BNP PARIBAS ARBITRAGE, SA XBPEW

$7,154

0.05%

149,050

JPMORGAN CHASE & CO

$6,927

0.05%

2,986

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
J.P. Morgan Securities LLC	2,986	$6,927	100.0%	Defined

Polar Asset Management Partners Inc. XBPEW

$3,629

0.03%

75,600

UBS Group AG

$2,651

0.02%

1,143

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
UBS AG	1,143	$2,651	100.0%	Defined

JANE STREET GROUP, LLC XBPEW

$2,447

0.02%

50,976

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Jane Street Capital, LLC	50,976	$2,447	100.0%	Defined

MILLENNIUM MANAGEMENT LLC XBPEW

$2,363

0.02%

51,250

PICTON MAHONEY ASSET MANAGEMENT XBPEW

$2,305

0.02%

50,000

WOLVERINE ASSET MANAGEMENT LLC XBPEW

$2,094

0.02%

45,429

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Wolverine Holdings, LLC	45,429	$2,094	100.0%	Defined

Blue Owl Capital Holdings LP XBPEW

$1,487

0.01%

24,778

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Blue Owl Alternative Credit Advisors LLC	24,778	$1,487	100.0%	Defined

TPG GP A, LLC XBPEW

$1,153

0.01%

25,000

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
ANGELO GORDON & CO., L.P.	25,000	$1,153	100.0%	Defined

LMR Partners LLP XBPEW

$1,153

0.01%

25,000

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
LMR PARTNERS (DIFC) Ltd	25,000	$1,153	100.0%	Sole

TENOR CAPITAL MANAGEMENT Co., L.P. XBPEW

$1,152

0.01%

25,000

SUSQUEHANNA INTERNATIONAL GROUP, LLP XBPEW

$940

0.01%

20,399

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
G1 EXECUTION SERVICES, LLC	20,399	$940	100.0%	Other

D. E. Shaw & Co., Inc. XBPEW

$909

0.01%

19,714

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
D. E. SHAW & CO, L.P.	19,714	$909	100.0%	Defined

OMERS ADMINISTRATION Corp XBPEW

$635

0.00%

10,000

BARCLAYS PLC

$232

0.00%

100

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
BARCLAYS CAPITAL INC.	100	$232	100.0%	Defined

DUPONT CAPITAL MANAGEMENT CORP XBPEW

$130

0.00%

2,500

MORGAN STANLEY

$76

0.00%

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
MORGAN STANLEY & CO. LLC	1	$2	2.6%	Defined
MORGAN STANLEY SMITH BARNEY LLC	32	$74	97.4%	Defined

UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

$74

0.00%

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
UBS Group AG	32	$74	100.0%	Defined

Mountain Hill Investment Partners Corp.

$54

0.00%

Transce3nd, LLC

$54

0.00%

SBI Securities Co., Ltd.

0.00%

Ancora Advisors LLC XBPEW

—

3,175

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Ancora Alternatives LLC	3,175	$0	—	Sole

Context Capital Management, LLC XBPEW

—

357,933

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