Insider XCF Global (SAFX) holders amend 13D, detail sales of XCF stock

Rhea-AI Filing Summary

XCF Global, Inc. major shareholder Randy Soule has updated his ownership report on Schedule 13D/A. The amendment shows that Soule beneficially owns 76,067,285 shares of Class A common stock, representing 47.8% of the class. Encore DEC, LLC, a Nevada company through which Soule provides construction and engineering services, is reported as holding 21.3% of the Class A shares.

The amendment corrects earlier disclosure that misstated Encore DEC, LLC’s ownership percentage, clarifying that 21.3% is the current figure. It also lists a series of recent open‑market sales by Encore DEC, LLC between January 8 and January 14, 2026, at prices ranging from $0.1514 to $0.1762 per share. The reporting persons state they do not currently plan actions such as mergers, reorganizations, or control changes but may buy or sell XCF common stock at their discretion, subject to applicable law.

Insights

Equity ownership & filings analyst

Amended 13D clarifies a large control stake and recent sales.

The document shows Randy Soule as a controlling shareholder of XCF Global, Inc., with beneficial ownership of 76,067,285 Class A shares, or 47.8% of the class. Encore DEC, LLC, a construction and engineering business tied to Soule, is reported with a 21.3% stake. This confirms a concentrated ownership structure, with one individual having significant voting and dispositive power.

The amendment corrects a previously reported percentage for Encore DEC, LLC, bringing the ownership data in line with current figures. It also discloses multiple open‑market sales by Encore DEC, LLC between January 8 and January 14, 2026, at prices between $0.1514 and $0.1762 per share. The reporting persons state they are not currently pursuing major corporate actions but reserve the right to do so, so future filings would provide updates if their intentions change.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 1)

XCF Global, Inc.

(Name of Issuer)

Class A Common Stock

(Title of Class of Securities)

98400U103

(CUSIP Number)

Samuel E. Whitley
24285 Katy Freeway, Suite 300,
Katy, TX, 77494
2812060433

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

01/08/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. 98400U103

1

Name of reporting person

SOULE RANDY

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 76,067,285.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 76,067,285.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

76,067,285.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

47.8 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

CUSIP No. 98400U103

1

Name of reporting person

Encore DEC, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 33,944,830.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 33,944,830.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

33,944,830.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

21.3 %

14

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person:

The original Schedule 13D incorrectly stated that the percentage owned by Encore DEC, LLC was 17.6% when it should have been 23.1%. The 21.3% listed above on Item 13 is the correct, current percentage owned by Encore DEC, LLC.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Class A Common Stock
(b)	Name of Issuer: XCF Global, Inc.
(c)	Address of Issuer's Principal Executive Offices: 611 PERU DRIVE, 611 PERU DRIVE, MCCARRAN, NEVADA , 89434.
Item 1 Comment: This Amendment No. 1 amends and supplements the statement on Schedule 13D initially filed on January 13, 2026 by the following person (the ?Reporting Persons?) with respect to shares of common stock of XCF Global, Inc. (the "Issuer").
Item 2.	Identity and Background
(a)	This Amendment No. 1 amends and supplements the statement on Schedule 13D initially filed on January 13, 2026 by the following person (the ?Reporting Persons?) with respect to shares of common stock of XCF Global, Inc. (the "Issuer"). Randy Soule, an individual whose address is 425 Western Rd., Suite 102, Reno, Nevada 89506. Mr. Soule?s primary business is providing construction and engineering services through Encore. Mr. Soule has not been convicted in a criminal proceeding. Mr. Soule has not been a party to a proceeding required to be disclosed pursuant to Item 2(e). Encore DEC, LLC, a Nevada limited liability company whose address is 425 Western Rd., Suite 102, Reno, Nevada 89506 (?Encore?). The primary business of Encore is construction and engineering services. Encore has not been convicted in a criminal proceeding. Encore has not been a party to a proceeding required to be disclosed pursuant to Item 2(e).
(b)	Randy Soule, an individual whose address is 425 Western Rd., Suite 102, Reno, Nevada 89506. Mr. Soule?s primary business is providing construction and engineering services through Encore. Mr. Soule has not been convicted in a criminal proceeding. Mr. Soule has not been a party to a proceeding required to be disclosed pursuant to Item 2(e). Encore DEC, LLC, a Nevada limited liability company whose address is 425 Western Rd., Suite 102, Reno, Nevada 89506 (?Encore?). The primary business of Encore is construction and engineering services. Encore has not been convicted in a criminal proceeding. Encore has not been a party to a proceeding required to be disclosed pursuant to Item 2(e).
(c)	Randy Soule, an individual whose address is 425 Western Rd., Suite 102, Reno, Nevada 89506. Mr. Soule?s primary business is providing construction and engineering services through Encore. Mr. Soule has not been convicted in a criminal proceeding. Mr. Soule has not been a party to a proceeding required to be disclosed pursuant to Item 2(e). Encore DEC, LLC, a Nevada limited liability company whose address is 425 Western Rd., Suite 102, Reno, Nevada 89506 (?Encore?). The primary business of Encore is construction and engineering services. Encore has not been convicted in a criminal proceeding. Encore has not been a party to a proceeding required to be disclosed pursuant to Item 2(e).
(d)	Randy Soule, an individual whose address is 425 Western Rd., Suite 102, Reno, Nevada 89506. Mr. Soule?s primary business is providing construction and engineering services through Encore. Mr. Soule has not been convicted in a criminal proceeding. Mr. Soule has not been a party to a proceeding required to be disclosed pursuant to Item 2(e). Encore DEC, LLC, a Nevada limited liability company whose address is 425 Western Rd., Suite 102, Reno, Nevada 89506 (?Encore?). The primary business of Encore is construction and engineering services. Encore has not been convicted in a criminal proceeding. Encore has not been a party to a proceeding required to be disclosed pursuant to Item 2(e).
(e)	Randy Soule, an individual whose address is 425 Western Rd., Suite 102, Reno, Nevada 89506. Mr. Soule?s primary business is providing construction and engineering services through Encore. Mr. Soule has not been convicted in a criminal proceeding. Mr. Soule has not been a party to a proceeding required to be disclosed pursuant to Item 2(e). Encore DEC, LLC, a Nevada limited liability company whose address is 425 Western Rd., Suite 102, Reno, Nevada 89506 (?Encore?). The primary business of Encore is construction and engineering services. Encore has not been convicted in a criminal proceeding. Encore has not been a party to a proceeding required to be disclosed pursuant to Item 2(e).
(f)	Randy Soule: United States Encore DEC, LLC: United States
Item 4.	Purpose of Transaction
	Other than as set forth above, the Reporting Persons do not intend to take any of the actions described in subsections (a) through (j) of Item 4 of Schedule 13D at this time; however, they reserve the right to do so. The Reporting Persons may purchase and sell common stock of XCF in their sole discretion and at such times as they deem convenient, subject to applicable law.
Item 5.	Interest in Securities of the Issuer
(a)	(a) The information contained in Rows 7, 8, 9, 10, 11, and 13 of each Reporting Person's cover page to this Amendment No. 1 (including the footnotes thereto), and in Items 2 and 3, are incorporated by reference into this Item 5. Encore beneficially owns 36,779,193 shares of XCF common stock. Mr. Soule is the sole member of Encore. As such, he has the power to direct the vote and disposition of Encore?s shares of XCF.
(b)	(b) The information contained in Rows 7, 8, 9, 10, 11, and 13 of each Reporting Person's cover page to this Amendment No. 1 (including the footnotes thereto), and in Items 2 and 3, are incorporated by reference into this Item 5. Encore beneficially owns 36,779,193 shares of XCF common stock. Mr. Soule is the sole member of Encore. As such, he has the power to direct the vote and disposition of Encore?s shares of XCF.
(c)	The Reporting Persons have conducted in the following transactions of XCF securities in the past 60 days: a. Encore DEC, LLC sold 200,000 shares on January 8, 2026 at $0.1713 per share in an open market transaction. b. Encore DEC, LLC sold 200,000 shares on January 9, 2026 at $0.1566 per share in an open market transaction. c. Encore DEC, LLC sold 200,000 shares on January 9, 2026 at $0.1603 per share in an open market transaction. d. Encore DEC, LLC sold 200,000 shares on January 9, 2026 at $0.1616 per share in an open market transaction. e. Encore DEC, LLC sold 73,000 shares on January 12, 2026 at $0.1544 per share in an open market transaction. f. Encore DEC, LLC sold 200,000 shares on January 12, 2026 at $0.1582 per share in an open market transaction. g. Encore DEC, LLC sold 200,000 shares on January 12, 2026 at $0.1584 per share in an open market transaction. h. Encore DEC, LLC sold 200,000 shares on January 13, 2026 at $0.1574 per share in an open market transaction. i. Encore DEC, LLC sold 200,000 shares on January 13, 2026 at $0.1576 per share in an open market transaction. j. Encore DEC, LLC sold 200,000 shares on January 13, 2026 at $0.1596 per share in an open market transaction. k. Encore DEC, LLC sold 200,000 shares on January 13, 2026 at $0.1701 per share in an open market transaction. l. Encore DEC, LLC sold 200,000 shares on January 13, 2026 at $0.1762 per share in an open market transaction. m. Encore DEC, LLC sold 161,363 shares on January 14, 2026 at $0.1536 per share in an open market transaction. n. Encore DEC, LLC sold 200,000 shares on January 14, 2026 at $0.1514 per share in an open market transaction. o. Encore DEC, LLC sold 200,000 shares on January 14, 2026 at $0.1525 per share in an open market transaction.
Item 7.	Material to be Filed as Exhibits.
	Exhibit 1 Joint Filing Agreement (incorporated by reference to Exhibit 1 to the Schedule 13D filed by Reporting Persons on January 13, 2026) Exhibit 2 Company Support Agreement (incorporated by reference to Exhibit 2 to the Schedule 13D filed by Reporting Persons on January 13, 2026)

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

SOULE RANDY

Signature:	Randy Soule
Name/Title:	Randy Soule, Self
Date:	01/15/2026

Encore DEC, LLC

Signature:	Randy Soule
Name/Title:	Randy Soule, Managing Member
Date:	01/15/2026

FAQ

What does the Schedule 13D/A filed for SAFX (XCF Global, Inc.) report?

The Schedule 13D/A reports updated beneficial ownership information for Randy Soule and Encore DEC, LLC in XCF Global, Inc. Class A common stock, including corrected ownership percentages and recent stock transactions.

How much of XCF Global, Inc. (SAFX) stock does Randy Soule own according to this filing?

The filing states that Randy Soule beneficially owns 76,067,285 shares of XCF Global Class A common stock, representing 47.8% of the outstanding class.

What stake in SAFX does Encore DEC, LLC hold in this Schedule 13D/A amendment?

Encore DEC, LLC is reported as beneficially owning 21.3% of XCF Global, Inc.’s Class A common stock, and this percentage corrects an error in the original Schedule 13D.

What recent SAFX share transactions by Encore DEC, LLC are disclosed?

The filing lists multiple open‑market sales by Encore DEC, LLC between January 8 and January 14, 2026, including several blocks of 200,000 shares and other amounts, at prices ranging from about $0.1514 to $0.1762 per share.

Does this SAFX Schedule 13D/A say the investors plan major corporate actions?

The reporting persons state they do not currently intend to take actions such as mergers, reorganizations, or other changes listed in Item 4, but they reserve the right to do so and may buy or sell XCF common stock at their discretion, subject to law.

Why was this Schedule 13D/A amendment filed for XCF Global, Inc. (SAFX)?

This Amendment No. 1 was filed to amend and supplement a prior Schedule 13D, correcting Encore DEC, LLC’s ownership percentage and updating information on the reporting persons’ holdings and recent open‑market sale transactions in XCF Global, Inc. common stock.