Skip to content
Esta página está disponible en españolCambiar →
GestorLensSign up

Xchg: which funds own it

Information Technology →(by SIC code, unreviewed)Data as of Jun 30, 2026 (Q2 2026) · updated on Nov 5, 2026

A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions and they may have changed.

Follow for free
Share

Sections with a free account

No concentrated manager holds it.

Who owns Xchg?

Xchg trades in the U.S. through ADRs, certificates that represent shares of a non-U.S. company. Form 13F counts ADRs while the company reports ordinary shares, so we do not compute percentages. Holders reporting more than 5% of the ordinary shares to the SEC (Schedules 13D/13G): Yifei Hou, 25.7% (13D filed Nov 6, 2025), Rui Ding, 24.3% (13D filed Nov 6, 2025) and Citadel Advisors, 9.7% (13G filed Aug 14, 2026). As of Jun 30, 2026, the largest ADR holders reported on Form 13F were Citadel Advisors (6.8 million ADRs), Notable Capital Management, L.l.c (647,589 ADRs) and Morgan Stanley (49,052 ADRs).

Which institutions hold the most Xchg shares?

Per Form 13F filings as of Jun 30, 2026, in ADRs:

  1. 1. Citadel Advisors: 6.8 million ADRs
  2. 2. Notable Capital Management, L.l.c: 647,589 ADRs
  3. 3. Morgan Stanley: 49,052 ADRs
  4. 4. Geode Capital Management: 30,238 ADRs
  5. 5. XTX Topco: 21,851 ADRs
  6. 6. SmartHarvest Portfolios: 14,502 ADRs
  7. 7. UBS Group: 7,673 ADRs

Sources:13D by Yifei Hou (Nov 6, 2025) ↗13D by Rui Ding (Nov 6, 2025) ↗13G by Citadel Advisors (Aug 14, 2026) ↗All of the company's proxy statements on EDGAR ↗

We hold 13D and 13G filings made since Dec 23, 2024: a holder above 5% that has not filed since then does not appear here.

Xchg revenue

Xchg reported annual revenue of $25.1 million for fiscal year 2025 (year ended December 31, 2025), according to its Form 20-F filed with the SEC (XBRL data).

Concentrated managers
—
All 13F: 7
Consensus
—
No score: it needs 5 or more concentrated managers
Price at Jun 30, 2026 (per 13F)
$0.79
+42.3% in the quarter · reported value ÷ shares, not the quote

Quarter flow (concentrated managers)

Concentrated managers holding it

None in the latest quarter.

Largest holders (all 13F filers)

  • Citadel Advisors6.8 MQuant or multi-manager · 0.24% of the company+6.7 M
  • Notable Capital Management, L.l.c648 KType not verified · 0.02% of the company−648 K
  • Morgan Stanley49 KBank or trading desk · 0.00% of the company−39 K
  • Geode Capital Management30 KIndex manager · 0.00% of the company+30 K
  • XTX Topco22 KType not verified · 0.00% of the company+22 K
  • SmartHarvest Portfolios15 KType not verified · 0.00% of the company+15 K
  • UBS Group7,673Bank or trading desk · 0.00% of the company+2,475

The 10 13F filers with the most shares as of Jun 30, 2026, whatever their type (index firms usually come first). “Change”: shares added or cut versus the previous quarter, split-adjusted; “no data” = there is no comparable portfolio for the previous quarter (no filing, or a filing with its holdings under confidential treatment). “% of the company” only where shares outstanding are up to date. Entities of the same group file separately and some 13F filings include other managers: there may be double counting. With a free account: the top 25, the largest buyers and the largest sellers.

Fundamentals

12-month figures to Dec 31, 2025 · balance sheet as of Dec 31, 2025.

Profitability
Operating margin
-129.9%
Net margin
-129.5%
ROE
-181.9%
Growth
Revenue (TTM)
$25.1M
Revenue growth
-40.5%
Net income (TTM)
$-32.5M
Balance sheet
Net debt / EBITDA
—
Free cash flow (TTM)
—
Quality vs sector
—

This company's sector comes from its SIC code, unreviewed, or has too few comparable companies: we do not compare it with its sector.

Figures from the statements the company filed with the SEC (10-K, 10-Q). Free cash flow = operating cash flow − capital expenditures; empty if the company does not report capex. “Quality vs sector”: 0 to 100, the average of its percentiles in ROE, operating margin, free-cash-flow margin, revenue and earnings growth and net debt / EBITDA (at least 3 needed) against companies in its sector above $300M. How each figure is calculated

Shares outstanding: buybacks and dilution

Diluted shares by fiscal year (split-adjusted)

2025: 2.80 bn

2.80 bn0
20242025
1 year
+8.6%
3 years
no data
5 years
no data
Buybacks (FY 2025)
no data
Share issuance
no data
Stock-based compensation
$20.9M83.4% of revenue
Dividends paid
no data

From the statements the company filed with the SEC (10-K). The change compares average diluted shares of each fiscal year, on today's basis: negative = it bought back more than it issued; positive = dilution. “No data” = the company does not report that item under a tag we can read; it does not mean zero.

Earnings quality and debt

Operating cash flow ÷ net income (12 months)
no datanot calculated with negative net income
Interest coverage (operating income ÷ interest)
−152 timesnegative operating income
Debt due within 12 months
$6.4M0.56 times cash and investments

From the figures the company filed with the SEC. Cash flow over net income near or above 1 means earnings are collected in cash; far below, that part is accounting. Coverage says how many times operating income pays the latest fiscal year's interest. Maturities come from the debt note of the latest annual report, counted from its closing date. “No data” never means zero.

Insiders (Form 4)

Officers and directors who bought (6 m)
no data
Amount (6 m)
no data
CEO/CFO bought (12 m)
No

Open-market purchases, excluding 10b5-1 plans. Officers and directors only; joint filers of the same purchase count as one. 10% owners with no role are shown separately. 0 = nobody bought; “no data” = we do not have its Form 4 filings.

Each of the company's Form 4 filings, on EDGAR ↗Latest trades, with date and filing →

Above 5% (13D/13G)

Disclosed stakes, with their amendments. A filing is not always a purchase: there are also reductions and changes of filing entity.

This list may be incomplete: we hold 13D and 13G filings made since Dec 23, 2024. A holder above 5% that has not filed anything since then is not shown here.

Above 5% over time (13D/13G)

Each holder with its filings in order. History since December 2024.

This company filed no 8-K forms in the last year. Foreign companies listed in the US (ADRs) report material events on forms 6-K and 20-F, and ETFs and funds do not file 8-Ks. If it is a foreign company listed in the US through ADRs (American Depositary Receipts), what trades are bank-issued certificates that represent shares from its home market.

Other Information Technology stocks in managers' portfolios

Same sector and a similar number of concentrated managers holding them. It is a list to keep exploring, not a recommendation.

All of Information Technology →

Follow Xchg for free

If someone reports a 5%+ stake, we email you (if you turn it on). And when you come back, see whether concentrated managers got in or out. No credit card.

Follow Xchg