What smart money is saying about QXO, Inc.

Position history

Between Q3 2025 and Q2 2026, 10 fund letters reported a position in QXO, Inc. — 7 opened or added to the position.

Fund activity · 10 positions · 7 moves

• HoldsAlger.com Focus Equity Fund

  June 2026

  “QXO, Inc., GFL Environmental Inc, and Netflix, Inc. were among the top detractors from performance. • QXO is a building products distribution company led by Brad Jacobs, an entrepreneur with a long track record of building large, successful companies through disciplined acquisitions and operational improvement. The company is pursuing a strategy of acquiring and integrating distributors of roofing, waterproofing, and related construction materials to build a national-scale platform. We view QXO as an attractive way to participate in the consolidation of a large and fragmented distribution industry. Shares detracted from performance during the quarter as softer conditions in the building products market weighed on near-term results.”

  20 more words on why — unlock Alger.com Focus Equity Fund’s full comment
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  QXO, Inc.
• HoldsMar Vista U.S. Quality Strategy

  June 2026

  “QXO (QXO) shares underperformed during the period as investors remained focused on near-term macroeconomic headwinds, including a sluggish U.S. housing market and persistently elevated interest rates, which continued to pressure residential construction activity and sentiment across the building products sector.”

  161 more words on why — unlock Mar Vista U.S. Quality Strategy’s full comment
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  QXO, Inc.
• HoldsMar Vista U.S. Quality Premier Portfolio

  June 2026

  “Intuit (INTU) shares came under pressure amid growing investor concerns that emerging AI-native companies could disrupt the economics of the TurboTax business, particularly at the lower end of the market. While we continue to hold Intuit’s management team in high regard, and the company has a long track record of successfully adapting to technological change, we believe the range of potential outcomes has widened as software increasingly transitions toward autonomous AI agents. Accordingly, we exited our remaining stub position and reallocated the capital to a business where we see stronger long-term secular tailwinds and a more attractive risk-reward profile, consistent with our disciplined capital allocation process. QXO (QXO) shares underperformed during the period as investors remained focused on near-term macroeconomic headwinds, including a sluggish U.S. housing market and persistently elevated interest rates, which continued to pressure residential construction activity and sentiment across the building products sector.”

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  QXO, Inc.
• New positionRoyal London AM Global Equity Diversified Fund (IRL)

  June 2026

  “We also initiated a position in QXO, taking advantage of share price weakness to gain exposure to what we believe could become a leading consolidator in the highly fragmented building products distribution market.”

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  QXO, Inc.
• New positionRoyal London AM Global Equity Diversified Fund

  June 2026

  “We continued to upgrade the portfolio, increasing exposure to areas where we see stronger long-term wealth creation opportunities and more attractive risk-reward characteristics. We added to Cisco Systems, Lumentum Holdings and Hannover Re, reflecting improving conviction in their respective wealth creation outlooks and attractive valuation support. We also initiated a position in QXO, taking advantage of share price weakness to gain exposure to what we believe could become a leading consolidator in the highly fragmented building products distribution market.”

  169 more words on why — unlock Royal London AM Global Equity Diversified Fund’s full comment
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  QXO, Inc.
• New positionRoyal London AM Royal London US Equity Trust

  June 2026

  “We also initiated a position in QXO, taking advantage of share price weakness to gain exposure to what we believe could become a leading consolidator in the highly fragmented building products distribution market.”

  Read the letter→
  QXO, Inc.
• New positionRoyal London AM US Equity Fund (IRL)

  June 2026

  “We added to Cisco Systems and Lumentum Holdings, reflecting our improving conviction in their respective wealth creation outlooks and attractive valuations. We also initiated a position in QXO, taking advantage of share price weakness to gain exposure to what we believe could become a leading consolidator in the highly fragmented building products distribution market.”

  Read the letter→
  QXO, Inc.
• New positionSpyglass Growth Strategy

  June 2026

  “QXO, Inc. (QXO), a distributor of roofing, waterproofing and complementary building products, was a new position during the second quarter.”

  209 more words on why — unlock Spyglass Growth Strategy’s full comment
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  QXO, Inc.
• AddedGranahan Investment Management Focused Growth Strategy

  June 2026

  “• QXO (QXO) – QXO is proven consolidator Brad Jacobs’ building products distribution platform. The stock declined -11%, detracting -103 basis points, as rate-cut expectations evaporated and housing-linked demand stayed soft. The acquisition of TopBuild also came at a somewhat higher purchase price that most expected. Nothing in the quarter has changed our view of the long- term opportunity: a fragmented $800 billion industry, a proven serial acquirer with a playbook refined over four decades, and meaningful margin upside from technology and scale. We have added to the position and QXO represents an average sized holding.”

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  QXO, Inc.
• New positionMar Vista U.S. Quality Premier Portfolio

  March 2026

  “During the quarter, we initiated new investments in Ecolab (ECL), GE Vernova (GEV) and QXO Inc (QXO).”

  253 more words on why — unlock Mar Vista U.S. Quality Premier Portfolio’s full comment
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  QXO, Inc.