Wasatch Advisors discloses 13.8% stake in XPEL (XPEL) shares

Rhea-AI Filing Summary

Wasatch Advisors filed an amended Schedule 13G reporting beneficial ownership of 3,814,500 XPEL Inc shares, representing 13.8% of the company’s common stock as of the reported date. This indicates a significant institutional position in XPEL.

Wasatch Advisors reports sole voting power over 2,711,145 shares and sole dispositive power over all 3,814,500 shares, with no shared voting or dispositive authority. The filing certifies that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of XPEL.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 7)

XPEL Inc

(Name of Issuer)

COM

(Title of Class of Securities)

98379L100

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 98379L100

1

Names of Reporting Persons

Wasatch Advisors LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 2,711,145.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 3,814,500.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,814,500.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

13.8 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: XPEL Inc
(b)	Address of issuer's principal executive offices: 618 West Sunset Road, San Antonio, US-TX, 78216, US
Item 2.
(a)	Name of person filing: Wasatch Advisors LP
(b)	Address or principal business office or, if none, residence: 505 Wakara Way, 3rd Floor, Salt Lake City, 84108, United States
(c)	Citizenship: DELAWARE
(d)	Title of class of securities: COM
(e)	CUSIP No.: 98379L100
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 3,814,500
(b)	Percent of class: 13.8 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 2,711,145
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 3,814,500
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

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.

Wasatch Advisors LP

Signature:	Mike Yeates
Name/Title:	CEO
Date:	02/11/2026

FAQ

What does Wasatch Advisors' Schedule 13G/A filing for XPEL (XPEL) mean?

Wasatch Advisors reported a passive institutional stake in XPEL Inc through a Schedule 13G/A. The firm beneficially owns 3,814,500 shares, or 13.8% of the class, and certifies the position is held in the ordinary course of business, not to influence control.

How many XPEL (XPEL) shares does Wasatch Advisors beneficially own and what percent of the company is this?

Wasatch Advisors beneficially owns 3,814,500 XPEL Inc shares. This position represents 13.8% of XPEL’s outstanding common stock, indicating that Wasatch is a significant institutional holder with a sizable ownership interest in the company’s equity.

What voting and dispositive power does Wasatch Advisors report over its XPEL (XPEL) shares?

Wasatch Advisors reports sole voting power over 2,711,145 XPEL shares and no shared voting power. It also reports sole dispositive power over all 3,814,500 shares and no shared dispositive power, meaning it alone decides when and how those shares are sold.

When is the date of event for Wasatch Advisors’ XPEL (XPEL) ownership reported in this Schedule 13G/A?

The date of event that triggered this ownership report is 12/31/2025. This date marks when Wasatch Advisors’ holdings in XPEL reached the reported level requiring disclosure under Schedule 13G/A rules for significant beneficial ownership.

Is Wasatch Advisors attempting to change or influence control of XPEL (XPEL) with this ownership stake?

The filing states the XPEL securities were acquired and are held in the ordinary course of business. It explicitly certifies they were not acquired and are not held to change or influence control of XPEL, consistent with a passive investment intent.