SEC 13F Intelligence

Managers / Q1 2025 · view latest →

X-Square Capital, LLC

CIK 0001729300 · STE. 802, 90 CARR 165, GUAYNABO, PR, 00968 · 787-282-1621

Reported Value
$232,620
Q1 2025
Positions
170
Filings on Record
30
2019–present window
Filed
May 9, 2025
original filing

Summary

X-Square Capital, LLC reported $232,620 in U.S.-listed holdings across 170 positions for Q1 2025.

Its largest position, IBIT, represents 5.0% of the portfolio.

Compared with Q4 2024, the fund opened 5 new positions and exited 14.

Portfolio Metrics

Turnover
+8.1%
vs prior filed quarter
Top-10 Concentration
+27.7%
share of reported value
Largest Position
+5.0%
Ishares Bitcoin
New / Exited
5 / 14
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $127MQ4 ’18Q1 ’19: $146MQ2 ’19: $157MQ3 ’19: $159MQ4 ’19: $170MQ4 ’19Q1 ’20: $100MQ2 ’20: $141MQ3 ’20: $139MQ4 ’20: $185MQ4 ’20Q1 ’21: $216MQ2 ’21: $211MQ3 ’21: $193MQ4 ’21: $199MQ4 ’21Q1 ’22: $192MQ2 ’22: $166MQ3 ’22: $157MQ1 ’23: $169,549Q1 ’23Q2 ’23: $148,812Q3 ’23: $148,812Q4 ’23: $181,243Q1 ’24: $211,041Q1 ’24Q2 ’24: $215,669Q3 ’24: $227,597Q4 ’24: $243,269Q1 ’25: $232,620Q1 ’25Q2 ’25: $278,060Q3 ’25: $320,154Q4 ’25: $305,153Q1 ’26: $296,726Q1 ’26filingsflow.com

Portfolio Composition

By security type
Common Stock: 80.3%ETP: 13.7%Other: 3.8%ADR: 2.2%
  • Common Stock · 80.3% · $186,780
  • ETP · 13.7% · $31,928
  • Other · 3.8% · $8,893
  • ADR · 2.2% · $5,019

Quarter-over-Quarter Changes full breakdown →

vs Q4 2024 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
QXOQXO, INC.NEW+60.0K60.0K+$812$812
UBERUBER TECHNOLOGIES, INC.NEW+10.0K10.0K+$729$729
DIREXION SHS ETF TRNEW+10.5K10.5K+$462$462
BMABANCO MACRO SA-ADRNEW+6.0K6.0K+$453$453
PRIPRIMERICANEW+735735+$209$209
XCYOPKO HEALTH INCADDED+298.7K460.4K+$526$764
DIREXION SEMICONDUCTOR BULL 3X ETFADDED+29.9K57.3K+$168$914
8LP1VITAL ENERGY INCSOLD OUT−33.5K0−$1,034$0

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q1 2025

153 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1IBITISHARES BITCOIN TRUSThistory →SHS5.04%$11,722250.4K
2SPDR S&P 500 ETFCOM3.75%$8,73115.6K
3OFGOFG BANCORP Fhistory →COM NEW2.88%$6,688167.1K
4METAMETA PLATFORMS INC CLASS Ahistory →COM2.62%$6,08810.6K
5BRK/BBERKSHIRE HATHAWAY CLASS Bhistory →COM2.50%$5,81610.9K
6FBPFIRST BANCORP Fhistory →CL A2.46%$5,729298.8K
7JPMJPMORGAN CHASE & COhistory →COM2.34%$5,44522.2K
8COSTCOSTCO WHOLESALE COhistory →COM2.24%$5,2015.5K
9HIMSHIMS & HERS HEALTH INChistory →COM CL A1.95%$4,535153.5K
10AMGNAMGEN INC.history →COM1.93%$4,48214.4K
11MIGAMICROSTRATEGY INC-CL Ahistory →CL A NEW1.84%$4,28314.9K
12AMDADVANCED MICRO DEVICES Ihistory →COM NEW1.81%$4,21641.0K
13TJXTJX COMPANIES INChistory →COM1.73%$4,02333.0K
14AMZNAMAZON.COM INChistory →COM CL A1.71%$3,98020.9K
15MLB1MERCADOLIBRE INChistory →COM1.57%$3,6541.9K
16MUMICRON TECHNOLOGYhistory →COM1.43%$3,32638.3K
17SUSUNCOR ENERGY INC Fhistory →CL B1.40%$3,26584.3K
18ABBVABBVIE INChistory →COM1.40%$3,25615.5K
19NVDANVIDIA CORPhistory →COM1.38%$3,21029.6K
20URIUNITED RENTALS INChistory →COM1.38%$3,2075.1K
21WMTWALMART INChistory →COM1.34%$3,11835.5K
22GDGENERAL DYNAMICS COhistory →COM1.34%$3,10811.4K
23T7DTRANSDIGM GROUP INChistory →COM1.30%$3,0142.2K
24CPRTCOPART INChistory →COM1.29%$2,99352.9K
25SKAASKECHERS U S A INC CLASS Ahistory →COM1.20%$2,78649.1K
26PYPLPAYPAL HOLDINGS INCORPORhistory →CL B1.18%$2,74342.0K
27TSLATESLA INChistory →COM1.16%$2,70110.4K
28AAPLAPPLE INChistory →COM1.10%$2,56611.6K
29XPOXPO INChistory →COM1.09%$2,52723.5K
30CMGCHIPOTLE MEXICAN GRILL INChistory →COM1.06%$2,47549.3K
31GOOGALPHABET INC. CLASS CCAP STK CL C · CAP STK CL A1.03%$2,40115.4K
32MSFTMICROSOFT CORPCOM0.99%$2,3006.1K
33KOTHE COCA-COLA COCOM0.97%$2,26131.6K
34ORLYO'REILLY AUTOMOTIVE INCCOM0.96%$2,2381.6K
35DPZDOMINOS PIZZA INCCOM0.94%$2,1864.8K
364I1PHILIP MORRIS INTLCOM0.93%$2,15313.6K
37VLOVALERO ENERGY CORPCOM0.89%$2,07815.7K
38XLEENERGY SELECT SECTOR SPDR ETFCOM0.89%$2,06622.1K
39X-SQUARE MUNI INC TAX FR ETFMUNICIPAL INCOME0.87%$2,01680.1K
40KMBKIMBERLY CLARK CORPCOM0.86%$1,99814.0K
41TPLTEXAS PACIFIC LAND CORPCOM0.84%$1,9601.5K
42EXPEEXPEDIA GROUP INCCOM NEW0.84%$1,95711.6K
43LENLENNAR CORP CLASS ACL A0.83%$1,93016.8K
44GNRCGENERAC HOLDINGS INCCOM0.82%$1,91015.1K
45BKNGBOOKING HOLDINGS INCCOM0.82%$1,909414
46RHRHCOM0.81%$1,8818.0K
47NOCNORTHROP GRUMMAN CORPCOM0.77%$1,7863.5K
48PLTRPALANTIR TECHNOLOGIES INC-ACL A0.75%$1,73520.6K
49OXYOCCIDENTAL PETROLEUM CORPCOM0.73%$1,69834.4K
50VALE SA F SPONSORED ADR 1 ADR REPS 1 ORD SHSCOM0.69%$1,610161.3K
51NFENEW FORTRESS ENERGY A CLASS ACOM0.68%$1,591191.5K
52DGDOLLAR GENERAL CORPCOM0.62%$1,44416.4K
53BPOPPOPULAR INC FSPONSORED ADR0.60%$1,39515.1K
54LULULULULEMON ATHLETICA INCCOM0.60%$1,3944.9K
55SPROTT URANIUM MINERS ETFURANIUM MINERS E0.57%$1,33141.0K
56RTXRAYTHEON TECHNOLOGIES COSPONSORED ADS A0.56%$1,3019.8K
57GARMIN LTD FCOM0.56%$1,2956.0K
58HDHOME DEPOT INCSPONSORED ADS0.55%$1,2893.5K
59FASTFASTENAL COCOM0.53%$1,23415.9K
60MOALTRIA GROUP INCUS HOME CONS ETF0.53%$1,22820.5K
61BAHBOOZ ALLEN HAMILTON HOLDINGSCL A0.52%$1,21411.6K
62NDQINVSC QQQ TRUST SRS 1 ETFOIL SVCS ETF0.50%$1,1642.5K
63IRIS ENERGY LTDORDINARY SHARES0.50%$1,155189.6K
64CHUBB LTD FCOM0.49%$1,1323.7K
65APPAPPLOVIN CORPORATIONCOM CL A0.48%$1,1264.2K
66PHMPULTEGROUP INCCL A0.48%$1,10510.8K
67LMTLOCKHEED MARTIN CORPTR UNIT0.46%$1,0742.4K
68JNJJOHNSON & JOHNSONCL A0.46%$1,0646.4K
69VALARIS LTDCL A0.43%$1,01125.8K
70SMCISUPER MICRO COMPUTER INCCOM NEW0.41%$96328.1K
71SHOPSHOPIFY INC F CLASS ACOM NEW0.41%$96310.1K
72DIREXION SEMICONDUCTOR BULL 3X ETFDLY SCOND 3XBU0.39%$91457.3K
73TEVATEVA PHARMACEUTICAL IN F SPONSORED ADR 1 ADR REPS 1 ORD SHSCOM0.39%$91159.3K
74GLOBALFOUNDRIES INCORDINARY SHARES0.39%$90024.4K
75TSCOTRACTOR SUPPLY COMPSPONSORED ADS0.37%$85615.5K
76SMLRSEMLER SCIENTIFIC INCCOM0.35%$82422.8K
77EXEEXPAND ENERGY CORPORATIONCOM0.35%$8217.4K
78HCCWARRIOR MET COAL INCCOM0.35%$81817.1K
79QXOQXO, INC.COM NEW0.35%$81260.0K
80VUGVANGUARD GROWTH ETFGROWTH ETF0.35%$8092.2K
81MAMasterCard IncCOM0.35%$8071.5K
82ASML HOLDING NVN Y REGISTRY SHS0.35%$8061.2K
83BRK/A1/100 BERKSHIRE HTWY CLA 100 SHS=1 WHOLE SH BRK ASHS0.34%$7981
84BACBANK OF AMERICA CORPCOM0.34%$79819.1K
85BJBJ'S WHOLESALE CLUB HOLDINGSCOM0.34%$7886.9K
86ALLYALLY FINL INCCOM0.34%$78121.4K
87XCYOPKO HEALTH INCUS HLTHCARE ETF0.33%$764460.4K
88VTVVANGUARD VALUE ETFVALUE ETF0.32%$7534.4K
89FTNTFORTINET INCCOM0.32%$7467.8K
90UBERUBER TECHNOLOGIES, INC.COM0.31%$72910.0K
91PGPROCTER & GAMBLECOM0.31%$7214.2K
92EXMOCEXXON MOBIL CORPCLASS A COM0.30%$7055.9K
93BTEBAYTEX ENERGY CORP FCOM0.28%$662296.8K
94FERRARI NVCOM0.28%$6561.5K
95ORCLORACLE CORPORATIONCOM0.26%$5984.3K
96TFCTRUIST FINL CORPCL A0.25%$57213.9K
97EOGEOG Resources IncCOM0.25%$5704.4K
98MARAMARA HOLDINGSCOM0.24%$55848.5K
99FIXCOMFORT SYSTEMS USA INCCOM0.22%$5161.6K
100EMEEMCOR GROUP INCCOM0.22%$5121.4K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$296,726172May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$305,153176Feb 11, 202613F-HRchanges · EDGAR ↗
Q3 2025$320,154177Nov 10, 202513F-HRchanges · EDGAR ↗
Q2 2025$278,060177Aug 5, 202513F-HRchanges · EDGAR ↗
Q1 2025$232,620170May 9, 202513F-HRchanges · EDGAR ↗
Q4 2024$243,269179Feb 12, 202513F-HRchanges · EDGAR ↗
Q3 2024$227,597177Oct 22, 202413F-HRchanges · EDGAR ↗
Q2 2024$215,669171Aug 6, 202413F-HRchanges · EDGAR ↗
Q1 2024$211,041169May 14, 202413F-HRchanges · EDGAR ↗
Q4 2023$181,243168Feb 9, 202413F-HRchanges · EDGAR ↗
Q3 2023$148,812156Nov 13, 202313F-HRchanges · EDGAR ↗
Q2 2023$148,812156Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$169,549171May 11, 202313F-HRchanges · EDGAR ↗
Q4 2022Under review168Feb 2, 202313F-HRchanges · EDGAR ↗
Q3 2022$157M163Nov 4, 202213F-HRchanges · EDGAR ↗
Q2 2022$166M170Aug 5, 202213F-HRchanges · EDGAR ↗
Q1 2022$192M169May 12, 202213F-HRchanges · EDGAR ↗
Q4 2021$199M167Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$193M170Nov 12, 202113F-HRchanges · EDGAR ↗
Q2 2021$211M151Aug 16, 202113F-HRchanges · EDGAR ↗
Q1 2021$216M134May 13, 202113F-HRchanges · EDGAR ↗
Q4 2020$185M129Feb 12, 202113F-HRchanges · EDGAR ↗
Q3 2020$139M119Nov 2, 202013F-HRchanges · EDGAR ↗
Q2 2020$141M113Aug 13, 202013F-HRchanges · EDGAR ↗
Q1 2020$100M90May 19, 202013F-HRchanges · EDGAR ↗
Q4 2019$170M90Feb 12, 202013F-HRchanges · EDGAR ↗
Q3 2019$159M87Nov 14, 201913F-HRchanges · EDGAR ↗
Q2 2019$157M107Aug 14, 201913F-HRchanges · EDGAR ↗
Q1 2019$146M110May 15, 201913F-HRchanges · EDGAR ↗
Q4 2018$127M116Feb 14, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.