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Livermore
Livermore
ZHEN

X-Square Capital, LLC

SEC CIK
0001729300
Latest filing
Aug 12, 2026

The latest 13F from X-Square Capital, LLC covers Q2 2026 (filed Aug 12, 2026): 176 long positions worth $394.1M. The top 10 holdings make up 34.8% of the portfolio, and the largest is AST SpaceMobile, Inc. (ASTS) at 5.7%. Livermore has 22 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
20
Est. +$28.8M
Added
104
Est. +$37.6M
Reduced
29
Est. −$20.6M
Sold out
8
Est. −$7.29M

Top 5 holdings

Share of this quarter's portfolio value

  1. ASTSAST SpaceMobile, Inc.
    5.7%$22.4MHistory
  2. AMDAdvanced Micro Devices Inc
    5.4%$21.4MHistory
  3. MUMicron Technology Inc
    4.1%$16.2MHistory
  4. SPYSPDR S&P 500 ETF Trust
    4.0%$15.6MHistory
  5. IRENIREN Ltd
    3.7%$14.8MHistory

Biggest buys

New and added positions, by estimated amount bought

  1. ASTSAST SpaceMobile, Inc.
    +$17.7MAddedHistory
  2. VISTVista Energy, S.A.B. de C.V.
    +$8.74MNewHistory
  3. PBRPetrobras - Petroleo Brasileiro SA
    +$5.01MNewHistory
  4. NOWServiceNow, Inc.
    +$4.92MNewHistory
  5. SMCISuper Micro Computer, Inc.
    +$2.94MAddedHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. ASTSAST SpaceMobile, Inc.
    +4.22 pp1.4% → 5.7%History
  2. VISTVista Energy, S.A.B. de C.V.
    +2.22 pp0.0% → 2.2%History
  3. PBRPetrobras - Petroleo Brasileiro SA
    +1.27 pp0.0% → 1.3%History
  4. NOWServiceNow, Inc.
    +1.25 pp0.0% → 1.2%History
  5. HIMSHims & Hers Health, Inc.
    +0.80 pp2.9% → 3.7%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. MUMicron Technology Inc
    −$5.63MReducedHistory
  2. AMDAdvanced Micro Devices Inc
    −$5.10MReducedHistory
  3. CIFRCipher Digital Inc.
    −$4.90MReducedHistory
  4. MSTRStrategy Inc
    −$2.89MSold outHistory
  5. METAMeta Platforms, Inc.
    −$1.97MReducedHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. METAMeta Platforms, Inc.
    −1.23 pp2.8% → 1.6%History
  2. MSTRStrategy Inc
    −0.97 pp1.0% → 0.0%History
  3. CIFRCipher Digital Inc.
    −0.83 pp0.9% → 0.1%History
  4. ROOTRoot, Inc.
    −0.54 pp0.5% → 0.0%History
  5. IBITiShares Bitcoin Trust ETF
    −0.42 pp1.2% → 0.8%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$394.1M
+$97.3M (+32.8%) vs. prior quarter
Positions
176
+12 vs. prior quarter
Top 10 concentration
34.8%
Top 10 as share of value
Turnover
8.1%
Q2 2026, one quarter
Average holding period
13.8 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $394.1M (Q2 2026)

Q1 2021: $216.4MQ2 2021: $210.6MQ3 2021: $193.4MQ4 2021: $199.0MQ1 2022: $192.4MQ2 2022: $166.2MQ3 2022: $157.4MQ4 2022: $175.6MQ1 2023: $169.5MQ2 2023: $148.8MQ3 2023: $148.8MQ4 2023: $181.2MQ1 2024: $210.5MQ2 2024: $215.7MQ3 2024: $227.6MQ4 2024: $243.3MQ1 2025: $232.6MQ2 2025: $278.1MQ3 2025: $320.2MQ4 2025: $305.2MQ1 2026: $296.7MQ2 2026: $394.1M
Q1 2021Q2 2026
13F filings of X-Square Capital, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 12, 2026176$394.1MASTSAMDMUvs. Q1 2026SEC
Q1 2026May 15, 2026164$296.7MSPYIRENAMDvs. Q4 2025SEC
Q4 2025Feb 11, 2026161$305.2MHIMSASTSSPYvs. Q3 2025SEC
Q3 2025Nov 10, 2025162$320.2MHIMSLMNDASTSvs. Q2 2025SEC
Q2 2025Aug 5, 2025160$278.1MHIMSSPYMSTRvs. Q1 2025SEC
Q1 2025May 9, 2025154$232.6MIBITSPYOFGvs. Q4 2024SEC
Q4 2024Feb 12, 2025163$243.3MIBITSPYMETAvs. Q3 2024SEC
Q3 2024Oct 22, 2024161$227.6MIBITSPYFBPvs. Q2 2024SEC
Q2 2024Aug 6, 2024157$215.7MIBITFBPOFGvs. Q1 2024SEC
Q1 2024May 14, 2024153$210.5MIBITSPYBPOPvs. Q4 2023SEC
Q4 2023Feb 9, 2024155$181.2MBPOPSPYFBPvs. Q3 2023SEC
Q3 2023Nov 13, 2023142$148.8MState Street Energy Select Sector SPDR ETFFBPBPOPvs. Q2 2023SEC
Q2 2023Aug 14, 2023142$148.8MState Street Energy Select Sector SPDR ETFFBPBPOPvs. Q1 2023SEC
Q1 2023May 11, 2023155$169.5MBPOPState Street Energy Select Sector SPDR ETFBTUvs. Q4 2022SEC
Q4 2022Feb 2, 2023153$175.6MState Street Energy Select Sector SPDR ETFBPOPFBPvs. Q3 2022SEC
Q3 2022Nov 4, 2022149$157.4MBPOPFBPBTUvs. Q2 2022SEC
Q2 2022Aug 5, 2022155$166.2MBPOPFBPDirexion Shares ETF Trustvs. Q1 2022SEC
Q1 2022May 12, 2022155$192.4MState Street Energy Select Sector SPDR ETFTELLMUvs. Q4 2021SEC
Q4 2021Feb 14, 2022152$199.0MMETAFBPMUvs. Q3 2021SEC
Q3 2021Nov 12, 2021155$193.4MMETADirexion Shares ETF TrustOFGvs. Q2 2021SEC
Q2 2021Aug 16, 2021135$210.6MOFGFBPBPOPvs. Q1 2021SEC
Q1 2021May 13, 2021120$216.4MOFGFBPBPOP–SEC