XP Inc.
In the published model solve dated 2026-Q2, anchored at $16.99, XP Inc. (XP) is priced for 21.9% return on equity. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed June 28, 2026 from SEC EDGAR filings.
• XP is a Brazilian investment platform that earns on the assets it gathers, and the gathering engine is working: client assets reached R$1.5 trillion at the end of 2025, up 16% year over year, with R$94 billion of net new money pulled in over the year [Source: XP Q4 2025 results, February 2026]. • The defining risk is country and rate exposure: a brokerage and asset platform concentrated in Brazil rises and falls with local equity markets, interest rates, and the real, and a high local rate env
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340 institutional managers reported holding XP in 13F filings for the quarter ended 2026-03-31. Together they hold about 61% of the company; the top 10 hold 34%. 53 opened new positions that quarter. Held by BlackRock, Dodge & Cox, Capital Group (American Funds), among others. On the short side, 19.1M shares were sold short as of the 2026-06-15 count, about 4% of shares outstanding (3 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
XP has cut its share count 3.1% over the past five years. It pays a dividend. Cash returned over the past three years: $1.09B in dividends.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: June 28, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.