SEC Filings

Vanguard Capital Management Reports 5.27% Passive Stake In QXO

The Vanguard unit holds 54,722,821 shares of the roofing distributor as an investment adviser and says it is not seeking control.

Vanguard Capital Management holds 54,722,821 shares of QXO, or 5.27% of the company's common stock, according to a Schedule 13G filed Friday. The form, the passive-ownership disclosure, lists September 30, 2026 as the date of the event.

A passive stake, certified

Vanguard Capital Management, based in Malvern, Pennsylvania, is classified in the filing as an investment adviser. It certified that the shares were acquired and are held in the ordinary course of business, not to change or influence control of QXO.

The 5.27% is measured on the filing's cover-page basis, which counts any warrants, options or convertibles the holder could exercise within 60 days in both the holding and the share base.

The unit holds sole voting power over 8,081,735 of the shares and shared voting power over none. The filing says Vanguard funds and other managed accounts have the right to receive dividends and sale proceeds from the securities, and that no other person's interest exceeds 5%.

A roofing distributor on the move

QXO distributes roofing, waterproofing and complementary building products, with asphalt shingles the largest share of its residential sales. It became a building products distributor when it completed its purchase of Beacon Roofing Supply on April 29, 2025, and its QXO Building Products unit runs approximately 600 branches across all 50 US states and seven Canadian provinces.

QXO shares traded at $10.94 in Friday trading, down about 4% from the prior close of $11.38, for a market value of $11.8 billion.

Jacobs's stake and the coming quarter

QXO is led by Chairman and CEO Brad Jacobs, who bought the roofing supply business through a tender offer in 2025. The Bloomberg Billionaires Index estimates his net worth fell 13.8% over the past year, with most of his fortune tied to QXO.

Zacks consensus, cited by Yahoo Finance, calls for revenue of $4.85 billion for the quarter ended September 2026, with earnings per share below a year earlier.

QXO is due to report results for the quarter ended September 2026, with Zacks consensus at $0.13 per share in earnings.