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[SCHEDULE 13G/A] Xponential Fitness, Inc. SEC Filing

Filing Impact
(Low)
Filing Sentiment
(Neutral)
Form Type
SCHEDULE 13G/A
Rhea-AI Filing Summary

D. E. Shaw-affiliated entities report beneficial ownership of 3,276,973 shares of Xponential Fitness Class A common stock, representing 8.9% of the outstanding class on the basis stated in the filing. The total share count used to calculate the percentage is 36,908,960, comprised of 35,097,000 outstanding Class A shares and 1,811,960 shares issuable upon conversion of convertible preferred securities.

The disclosed position reflects shared voting and dispositive power over the 3,276,973 shares across multiple D. E. Shaw entities and David E. Shaw, with no reporting person claiming sole voting or dispositive power. Several affiliated entities report zero ownership. The filing includes a joint filing agreement and powers of attorney supporting the signatures.

Positive
  • Material disclosure of an 8.9% stake in Xponential Fitness provides transparency about a significant institutional position
  • Shared voting and dispositive power is clearly enumerated across specific D. E. Shaw entities and David E. Shaw, clarifying control lines
  • Percentage basis is explicitly stated (36,908,960 shares) with breakdown of outstanding and convertible shares used in the calculation
Negative
  • None.

Insights

TL;DR: A significant 8.9% stake by D. E. Shaw group is material and could affect investor perception of ownership concentration.

The filing discloses a 3,276,973-share position equating to 8.9% of Xponential Fitness Class A stock based on the filers stated outstanding share calculation (36,908,960). That percentage crosses the common 5% disclosure threshold and therefore is material to shareholders and analysts monitoring ownership structure. The position is reported as shared voting and dispositive power across multiple affiliated entities rather than held outright by a single entity or individual, which is consistent with institutional or fund-level ownership through affiliated vehicles. No purchases, dispositions, or intentions to influence control are stated in the certification language; the filing limits itself to ownership and power disclosures.

TL;DR: Shared control across affiliated entities and an 8.9% stake warrant attention for governance and voting dynamics.

The report shows shared voting and dispositive authority for 3,276,973 shares across D. E. Shaw entities and David E. Shaw, with explicit disclaimers of sole ownership. For corporate governance, this concentration can influence voting outcomes on significant matters if the holders act in concert, though the filing states the securities are not held to change or influence control. The submission also documents internal authorities (powers of attorney and a joint filing agreement), demonstrating procedural compliance for joint reporting and collective disclosure of the position.






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




Comment for Type of Reporting Person: This percentage figure is based upon 36,908,960 shares of Class A Common Stock outstanding, composed of: (i) 35,097,000 shares of Class A Common Stock outstanding as of July 31, 2025, as reported in the Issuer's Form 10-Q filed with the SEC on August 8, 2025, and (ii) 1,811,960 shares of Class A Common Stock issuable upon conversion of convertible preferred securities.


SCHEDULE 13G




Comment for Type of Reporting Person: This percentage figure is based upon 36,908,960 shares of Class A Common Stock outstanding, composed of: (i) 35,097,000 shares of Class A Common Stock outstanding as of July 31, 2025, as reported in the Issuer's Form 10-Q filed with the SEC on August 8, 2025, and (ii) 1,811,960 shares of Class A Common Stock issuable upon conversion of convertible preferred securities.


SCHEDULE 13G




Comment for Type of Reporting Person: This percentage figure is based upon 36,908,960 shares of Class A Common Stock outstanding, composed of: (i) 35,097,000 shares of Class A Common Stock outstanding as of July 31, 2025, as reported in the Issuer's Form 10-Q filed with the SEC on August 8, 2025, and (ii) 1,811,960 shares of Class A Common Stock issuable upon conversion of convertible preferred securities.


SCHEDULE 13G




Comment for Type of Reporting Person: This percentage figure is based upon 36,908,960 shares of Class A Common Stock outstanding, composed of: (i) 35,097,000 shares of Class A Common Stock outstanding as of July 31, 2025, as reported in the Issuer's Form 10-Q filed with the SEC on August 8, 2025, and (ii) 1,811,960 shares of Class A Common Stock issuable upon conversion of convertible preferred securities.


SCHEDULE 13G




Comment for Type of Reporting Person: This percentage figure is based upon 36,908,960 shares of Class A Common Stock outstanding, composed of: (i) 35,097,000 shares of Class A Common Stock outstanding as of July 31, 2025, as reported in the Issuer's Form 10-Q filed with the SEC on August 8, 2025, and (ii) 1,811,960 shares of Class A Common Stock issuable upon conversion of convertible preferred securities.


SCHEDULE 13G




Comment for Type of Reporting Person: Subsequent to our most recent filing for this Issuer dated February 14, 2025, D. E. Shaw Adviser, L.L.C., D. E. Shaw Manager, L.L.C., and DESALKIV Portfolios, L.L.C. ceased to be the beneficial owners of more than five percent of the class of securities. Accordingly, Item 5 has been checked in respect of these reporting persons.


SCHEDULE 13G




Comment for Type of Reporting Person: Subsequent to our most recent filing for this Issuer dated February 14, 2025, D. E. Shaw Adviser, L.L.C., D. E. Shaw Manager, L.L.C., and DESALKIV Portfolios, L.L.C. ceased to be the beneficial owners of more than five percent of the class of securities. Accordingly, Item 5 has been checked in respect of these reporting persons.


SCHEDULE 13G




Comment for Type of Reporting Person: Subsequent to our most recent filing for this Issuer dated February 14, 2025, D. E. Shaw Adviser, L.L.C., D. E. Shaw Manager, L.L.C., and DESALKIV Portfolios, L.L.C. ceased to be the beneficial owners of more than five percent of the class of securities. Accordingly, Item 5 has been checked in respect of these reporting persons.


SCHEDULE 13G




Comment for Type of Reporting Person: This percentage figure is based upon 36,908,960 shares of Class A Common Stock outstanding, composed of: (i) 35,097,000 shares of Class A Common Stock outstanding as of July 31, 2025, as reported in the Issuer's Form 10-Q filed with the SEC on August 8, 2025, and (ii) 1,811,960 shares of Class A Common Stock issuable upon conversion of convertible preferred securities.


SCHEDULE 13G



D. E. Shaw & Co., L.P.
Signature:/s/ Daniel R. Marcus
Name/Title:Daniel R. Marcus / Chief Compliance Officer
Date:09/18/2025
D. E. Shaw & Co., L.L.C.
Signature:/s/ Daniel R. Marcus
Name/Title:Daniel R. Marcus / Authorized Signatory
Date:09/18/2025
D. E. Shaw Adviser II, L.L.C.
Signature:/s/ Daniel R. Marcus
Name/Title:Daniel R. Marcus / Chief Compliance Officer
Date:09/18/2025
D. E. Shaw Manager II, L.L.C.
Signature:/s/ Daniel R. Marcus
Name/Title:Daniel R. Marcus / Authorized Signatory
Date:09/18/2025
D. E. Shaw Galvanic Portfolios, L.L.C.
Signature:/s/ Daniel R. Marcus
Name/Title:Daniel R. Marcus / Authorized Signatory
Date:09/18/2025
D. E. Shaw Adviser, L.L.C.
Signature:/s/ Daniel R. Marcus
Name/Title:Daniel R. Marcus / Chief Compliance Officer
Date:09/18/2025
D. E. Shaw Manager, L.L.C.
Signature:/s/ Daniel R. Marcus
Name/Title:Daniel R. Marcus / Authorized Signatory
Date:09/18/2025
DESALKIV Portfolios, L.L.C.
Signature:/s/ Daniel R. Marcus
Name/Title:Daniel R. Marcus / Authorized Signatory
Date:09/18/2025
David E. Shaw
Signature:/s/ Daniel R. Marcus
Name/Title:Daniel R. Marcus / Attorney-in-Fact for David E. Shaw
Date:09/18/2025

Comments accompanying signature: Exhibit 1: Power of Attorney, granted by David E. Shaw relating to D. E. Shaw & Co., Inc., in favor of the signatories hereto, among others, dated August 1, 2024. Exhibit 2: Power of Attorney, granted by David E. Shaw relating to D. E. Shaw & Co. II, Inc., in favor of the signatories hereto, among others, dated August 1, 2024.
Exhibit Information

Exhibit 3: Joint Filing Agreement, by and among the Reporting Persons, dated September 18, 2025.

FAQ

How many XPOF shares does D. E. Shaw report owning and what percent is that?

The D. E. Shaw reporting persons disclose beneficial ownership of 3,276,973 shares, representing 8.9% of the Class A shares based on the filings stated outstanding share count.

What share count was used to calculate the 8.9% ownership in XPOF?

The percentage is based on 36,908,960 Class A shares: 35,097,000 outstanding Class A shares plus 1,811,960 shares issuable upon conversion of convertible preferred securities.

Does any D. E. Shaw entity claim sole voting or dispositive power over the XPOF shares?

No. The filing reports 0 sole voting power and 0 sole dispositive power for each reporting person; the 3,276,973 shares are reported with shared voting and shared dispositive power.

Are the reported shares held by a single D. E. Shaw entity or across multiple affiliates?

Ownership and powers are reported across multiple D. E. Shaw entities and David E. Shaw, with D. E. Shaw Galvanic Portfolios, L.L.C. identified as holding shares and rights to shares via conversion, aggregated to the 3,276,973 total.

Does the filing state any intent to influence control of Xponential Fitness (XPOF)?

The certification states the securities were not acquired and are not held for the purpose of changing or influencing control and are not held in connection with any transaction having that purpose, except as noted for nomination activities.
Xponential Fitness Inc

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