Fund 1 Investments Discloses 9.9% Activist Stake in Xponential Fitness
XPOF sits 34% above its 52-week low of $3.83.
Summary
Fund 1 Investments disclosed a 9.9% activist stake in Xponential Fitness, with plans to push for operational and strategic changes. The position includes swaps and short puts that add significant economic exposure.
Key Events · Ownership and Investor Activity · XPOF
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9.9% Activist Stake Disclosed
Fund 1 Investments, LLC reports beneficial ownership of 4,170,610 shares (9.9% of outstanding), purchased for approximately $25,854,365 including commissions.
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Derivative Overlays Add Exposure
The fund holds cash-settled total return swaps on 2,161,006 notional shares (5.1% of outstanding) and has sold short 2,000,000 put options with a $5 strike expiring September 18, 2026.
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Activist Intent Stated
The filing states the fund intends to engage with the board and management regarding operational and strategic opportunities to enhance stockholder value, including potential business combinations or dispositions.
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Position Built Through August 21
Transactions in Exhibit 1 show purchases from June 24 through August 21, 2026, at prices ranging from $4.88 to $7.12 per share, with some sales interspersed.
Analysis · XPOF · Trade & Services
Fund 1 Investments, LLC has built a 9.9% stake in Xponential Fitness — 4,170,610 shares bought for roughly $25.9 million — and is now disclosing it on Schedule 13D. The filing states the fund intends to engage with the board and management on operational and strategic opportunities to enhance stockholder value, language that typically precedes activist pressure. The position is layered with derivatives: cash-settled total return swaps on another 2,161,006 notional shares (5.1% of outstanding) and short put options on 2,000,000 shares at a $5 strike expiring September 18, 2026. The combined economic exposure is substantial for a company that just reported a 13% revenue decline, swung to a loss, and slashed full-year guidance. The fund's average purchase price across the disclosed transactions is well above the current $5.13 share price, meaning the position is underwater — which could intensify pressure for strategic change.
How filings like this one have moved
In the 30 days to Aug 25, 2026, 37.4% of the 3413 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was 0.00%. 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 $5.13 on NYSE in the Trade & Services sector, with a market capitalization of approximately $258.1M. The 52-week trading range was $3.83 to $9.25. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.