Tritonpoint Wealth 13F: Cuts QXO Stake by $786K
Key Points
- Tritonpoint Wealth trimmed its QXO, Inc. QXO stake by 13.9%, dropping 67,195 shares to finish the period with 414,373 shares valued at about $4.84 million.
- QXO, Inc. QXO recently changed hands near $10.13, trading well below its 52-week high of $27.61 as the company heads toward its next earnings report on November 5, 2026.
- Other large investment managers adjusted their positions previously, with Baillie Gifford & Co growing its stake significantly while Orbis Allan Gray Ltd held steady.
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Tritonpoint Wealth lowered its stake in QXO, Inc. QXO by 13.9% during the quarter, according to a Form 13F filed with the Securities and Exchange Commission on October 19, 2026.
QXO
QXO, Inc.
What Changed in Tritonpoint Wealth's QXO, Inc. Position
The wealth manager parted with 67,195 shares of the industrial distribution company during the period. That left Tritonpoint Wealth holding 414,373 shares of QXO, Inc. QXO. The remaining stake carried a reported value of $4,844,016 at the time of the filing.
Other Institutional Activity in QXO, Inc.
Other major investors adjusted their holdings ahead of the filing period. Orbis Allan Gray Ltd kept its position unchanged, holding 73,951,325 shares worth about $749,866,460. Baillie Gifford & Co grew its holdings by 34,243,509 shares, ending with 47,867,886 shares worth about $485,380,380. Affinity Partners Gp LP kept its stake steady at 32,698,176 shares valued at about $331,559,515. Fred Alger Management, LLC grew its holdings by 4,958,039 shares, ending with 27,362,195 shares worth about $277,452,666.
QXO, Inc. Stock Down 6.7%
QXO, Inc. QXO closed at $10.14 on October 19, 2026, and recently traded around $10.13 on October 20, 2026. The stock sits near its 52-week low of $10.04, down substantially from its 52-week high of $27.61.
Recent Earnings
QXO, Inc. QXO generated $9,898,200,064 in trailing-twelve-month revenue. The company reported a net profit margin of -5.2% and a return on equity of -4.6%, resulting in trailing-twelve-month earnings of -$0.89 per share. The business is scheduled to release its next financial results on November 5, 2026.
Insider Buying and Selling at QXO, Inc.
MFN Partners LP, a beneficial owner of more than 10% of the company, disposed of 7,000,000 shares on November 6, 2024, at a price of $15.05 per share, for a total value of $105,350,000.
Analysts Set New Price Targets
DA Davidson initiated coverage with a Buy rating and a $26.00 price target on August 25, 2026. RBC Capital maintained an Outperform rating on October 7, 2026, adjusting its price target to $18.00 from $27.00. Truist Securities maintained a Buy rating on October 8, 2026, lowering its price target to $15.00 from $26.00. Wells Fargo maintained an Overweight rating on October 13, 2026, setting a target of $16.00, and later maintained an Overweight rating on October 16, 2026, adjusting its target to $15.00. Overall, the stock carries a strong buy consensus with a mean price target of $25.95 across 19 analyst opinions.
About QXO, Inc.
Headquartered in Greenwich, Connecticut, QXO, Inc. QXO operates in the industrial distribution sector, supplying roofing, waterproofing, and related building materials across the United States and Canada. Its product lines serve residential construction markets with items such as asphalt shingles, metal roofing, siding, and various exterior accessories.
Bottom Line
Investors will look toward the upcoming earnings update on November 5, 2026, for fresh details on the company's financial direction. Institutional filing disclosures will continue to track how major wealth managers position themselves around these valuation levels.
Related Filing Alerts
Source: Tritonpoint Wealth's 13F filing on $QXO (Oct 19, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Written by software, not financial advice. How we make alerts