QXO jumps 8% as investors digest new pro forma disclosures tied to TopBuild deal

QXO, Inc. (QXO) is up 8.0% today. Here is some analysis on what might have caused this price movement.

Analysis: The move appears tied to investors reacting to fresh merger-related financial disclosures that provide more clarity on QXO’s pending TopBuild transaction and its recently closed Kodiak acquisition. With updated audited/unaudited statements and pro forma combinations now public, some investors may be reassessing deal risk, financing, and potential earnings power.

Details:

QXO filed a Current Report on Form 8-K dated May 15, 2026 that included audited and unaudited financial statements for Kodiak and TopBuild, plus unaudited pro forma combined financial information for QXO, QXO Building Products, Kodiak, and TopBuild.

The same merger-related filing package included auditor consents and additional exhibits intended to support the ongoing transaction process and forthcoming merger materials.

QXO also posted an Investor Q&A (dated May 11, 2026) discussing how the company frames the strategic rationale and integration approach for TopBuild alongside Beacon (QXO Building Products) and Kodiak.

This could also be a momentum rebound after recent earnings-related volatility, with traders positioning around the M&A timeline and updated disclosures.

Sources:

U.S. Securities and Exchange Commission (SEC), QXO Investor Relations, MDM

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$QXO Hedge Fund Activity

We have seen 360 institutional investors add shares of $QXO stock to their portfolio, and 220 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

BAILLIE GIFFORD & CO added 14,644,305 shares (+16117.6%) to their portfolio in Q4 2025, for an estimated $282,488,643
ORBIS ALLAN GRAY LTD removed 11,533,149 shares (-13.5%) from their portfolio in Q1 2026, for an estimated $223,973,753
UBS GROUP AG added 10,245,335 shares (+205.8%) to their portfolio in Q1 2026, for an estimated $198,964,405
MORGAN STANLEY added 7,504,983 shares (+11.2%) to their portfolio in Q1 2026, for an estimated $145,746,769
FINEPOINT CAPITAL LP removed 7,319,000 shares (-34.6%) from their portfolio in Q1 2026, for an estimated $142,134,980
NORGES BANK added 7,279,467 shares (+inf%) to their portfolio in Q4 2025, for an estimated $140,420,918
MFN PARTNERS MANAGEMENT, LP removed 6,822,976 shares (-22.5%) from their portfolio in Q1 2026, for an estimated $132,502,193

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$QXO Analyst Ratings

Wall Street analysts have issued reports on $QXO in the last several months. We have seen 3 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Citigroup issued a "Buy" rating on 01/08/2026
Truist Securities issued a "Buy" rating on 12/19/2025
Loop Capital issued a "Buy" rating on 12/12/2025

To track analyst ratings and price targets for $QXO, check out Quiver Quantitative's $QXO forecast page.

$QXO Price Targets

Multiple analysts have issued price targets for $QXO recently. We have seen 8 analysts offer price targets for $QXO in the last 6 months, with a median target of $29.0.

Here are some recent targets:

Anthony Pettinari from Citigroup set a target price of $28.0 on 05/15/2026
Trey Grooms from Stephens & Co. set a target price of $26.0 on 05/14/2026
David Manthey from Baird set a target price of $30.0 on 05/13/2026
Scott Schneeberger from Oppenheimer set a target price of $32.0 on 04/27/2026
Jeffrey Hammond from Keybanc set a target price of $32.0 on 04/20/2026
Mike Dahl from RBC Capital set a target price of $28.0 on 04/06/2026
Keith Hughes from Truist Securities set a target price of $26.0 on 12/19/2025

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.