nav[aria-label="Primary Navigation"] { padding: 0; & ul { list-style: none; width: 100%; display: flex; flex-direction: row; justify-content: start; align-items: start; gap: 30px; padding: 0; & li { margin: 0; } & ul li { list-style: none; } } }

XOM Redomiciling?

isonclubikin

This morning, Quicken downloaded 2 unsolicited sell transactions from Morgan Stanley for twice the number of shares that existed. Checking Morgan Stanley, it was a 1-1 exchange and the correct number of XOM shares are still in the account (just renamed). Checking the news, it looks like XOM redomiciled from NJ to TX on 02 July 2026 and changed its holding company to ExxonMobil Holdings Corp. So, I deleted those downloaded transactions and just did a Rename of the stock in Quicken.

Technically, it looks like this redomiciling actually did involve the sale of all old XOM stock and its re-issue under the new holding company. Is there any reason I should do a sell/buy instead of just the renaming route I went?

Find more posts tagged with

Accepted answers

All comments

q_lurker

it does appear that this is a tax-free exchange so the rename should be fine. An Add Shares / Remove Shares pairing would be better than Sell / Buy for those who want to track them as separate companies.

There is also, I believe, a CUSIP change. With the rename, you might need to Edit security and uncheck the Matched box so that you get the right match on the next download.

isonclubikin

I think you're right about the CUSIP change. When the transactions came in, Quicken asked what stock they were for and I pointed it back to XOM.

GeoffG

Vanguard sent down an Add Shares/Remove Shares with the CUSIP change for me when I accepted to the same XOM security. What I noticed howerver was the Add Shares cost is zero. This of course is wrong. I took the total cost divided by the total shares to calculate the cost price per share and entered that to correct. You will need to carry out six decimal places to get the exact cost.

q_lurker

@GeoffG In my experience, I have never seen (that I recall) a FI including basis information with a downloaded Add Shares.

Based on a limited review of the XOM Annual Meeting proxy statement (page 114 if you want to dig it out), it appears consolidating multiple similar lots into one might be a valid step.

Each U.S. Holder’s aggregate tax basis in its shares of Texas Corporation stock received in the Texas Redomiciliation will equal such U.S. Holder’s aggregate adjusted tax basis in the shares of New Jersey Corporation stock exchanged pursuant to the Texas Redomiciliation.
The holding period of the shares of Texas Corporation stock received by a U.S. Holder in the Texas Redomiciliation will include such U.S. Holder’s holding period for the shares of New Jersey Corporation stock exchanged pursuant to the Texas Redomiciliation.
If a U.S. Holder holds different blocks of shares of New Jersey Corporation stock (such as shares that were acquired at different times or at different prices), such U.S. Holder should consult its tax advisor with respect to the determination of the tax basis and holding period for the particular shares of Texas Corporation stock received in the Texas Redomiciliation.

I would have thought it more proper to maintain each lot separately. You might want to check how your FI is handling the lot structure independently of what they send via a download to Quicken.

FWIW (not much): My FI maintained two lots as two lots.

jjrichards

Since its the same company , XOM stock symbol , just a renaming I wonder on Morgan Stanley users on Q for Mac , how they corrected the doubling of stock in their portfolio ?

Fidelity sent down two cash transactions (matches online). A deposit and a withdraw but the amounts were not the same. Quicken asked if they were the same and I said yes which changed the CUSIP. I haven't accepted the cash transactions due to the difference in the amounts. Any ideas? Thanks!!!

Daddio25

@GM

I had the same in my Fidelity account. When I performed the One Step Update, Quicken asked it was a new security. I said yeas because of the CUISP change. Quicken later asked if it was a name change and I said yes. When I look at it in the security list both the name and CUISP have been changed. All of the transaction history has been moved to the new security as well. I am thinking that I don't need the two cash transactions at all.

EDIT. Maybe I will add a placeholder transaction to "remove" the cash difference. Keeping the two downloaded transactions just so I have a record of what happened.

Lane1983

The difference in amounts that I see is equal to the change in price between market open and market close on 7/1/26. I'm not sure why this happened. My assumption would be that the exchange would be at the same price. Fidelity rolled that change into my core cash position in their platform.

I'm using Mac 9.1