Activist Fund 1 Adds $22M in Swaps, Lifting Economic Stake to ~18.4%
XPOF sits 36% above its 52-week low of $3.565.
Summary
Fund 1 Investments revealed total return swaps on 3.57M XPOF shares, lifting its economic stake to ~18.4% as it pushes for operational and strategic changes.
Key Events · Ownership and Investor Activity · XPOF
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Total Return Swaps Disclosed
Fund 1 entered cash-settled swaps on 3,573,826 notional shares (~8.5% of outstanding), giving economic exposure without voting or dispositive power.
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Economic Stake Rises to ~18.4%
Combined with the 9.9% direct stake (4,170,610 shares) and 2.5M short puts, Fund 1's total economic exposure reaches approximately 18.4% of XPOF.
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Aggregate Cost of Direct Stake
The 4,170,610 shares were purchased for approximately $25,854,365 including commissions, implying an average cost of ~$6.20 per share versus the current $4.85 price.
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Short Put Options Expiring Soon
Fund 1 holds short OTC cash-settled puts on 2,500,000 shares at a $5 strike expiring October 16, 2026 — nine days after this filing.
Analysis · XPOF · Trade & Services
Fund 1 Investments disclosed cash-settled total return swaps on 3.57M shares, adding ~8.5% economic exposure on top of its 9.9% direct stake. Combined with previously disclosed short puts on 2.5M shares, the activist now has economic exposure to roughly 18.4% of Xponential Fitness — a meaningful escalation of its campaign against a backdrop of declining revenue and a halved cash position.
How filings like this one have moved
In the 30 days to Oct 7, 2026, 29% of the 1648 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.62%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, XPOF was trading at $4.85 on NYSE in the Trade & Services sector, with a market capitalization of approximately $238.9M. The 52-week trading range was $3.57 to $9.25. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.