EXPAND ENERGY CORPORATION EXE
COM · Common Stock · CUSIP 165167735 · ISIN US1651677353
American energy company
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($41.6m this quarter). Holder counts are more reliable. Shares outstanding: 132.4m as of 2023-07-31, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $83.48. Options: 11 managers hold calls ($173.0m notional), 15 hold puts ($169.4m).
Trends to Q2 2023
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 435 |
| Q4 2022 | 491 |
| Q1 2023 | 458 |
| Q2 2023 | 457 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2022 | 303 | 177 |
| Q1 2023 | 269 | 232 |
| Q2 2023 | 220 | 224 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2022 | $257.3m | $271.4m | 1.05 |
| Q4 2022 | $139.4m | $127.9m | 0.92 |
| Q1 2023 | $122.5m | $181.7m | 1.48 |
| Q2 2023 | $173.0m | $169.4m | 0.98 |
Biggest buyers
| T. Rowe Price Investment Management, Inc. | Added | +4.1m |
| Thrivent Financial for Lutherans | New | +1.2m |
| WELLINGTON MANAGEMENT GROUP LLP | Added | +1.1m |
| CITADEL ADVISORS LLC | Added | +1.1m |
| Bank of New York Mellon Corp | Added | +527.6k |
| Patient Capital Management, LLC | Added | +436.3k |
| MILLENNIUM MANAGEMENT LLC | New | +405.8k |
| Grantham, Mayo, Van Otterloo & Co. LLC | New | +279.8k |
| Walleye Capital LLC | Added | +272.3k |
| JANUS HENDERSON GROUP PLC | Added | +235.8k |
Biggest sellers
| FMR LLC | Reduced | -2.7m |
| Orbis Allan Gray Ltd | Sold out | -2.3m |
| OAKTREE CAPITAL MANAGEMENT LP | Reduced | -1.2m |
| TWO SIGMA INVESTMENTS, LP | Reduced | -763.3k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | Reduced | -573.0k |
| Slate Path Capital LP | Reduced | -500.0k |
| Miller Value Partners, LLC | Reduced | -443.8k |
| LORD, ABBETT & CO. LLC | Reduced | -400.7k |
| PRICE T ROWE ASSOCIATES INC /MD/ | Reduced | -391.5k |
| BlackRock Inc. | Reduced | -359.9k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $117.7m1.4m shares |
| CITADEL ADVISORS LLC | Reduced | $45.0m537.8k shares |
| Parallax Volatility Advisers, L.P. | Added | $6.3m75.1k shares |
| WOLVERINE TRADING, LLC | Reduced | $1.4m16.7k shares |
| Point72 Asset Management, L.P. | Unchanged | $1.2m14.0k shares |
| PEAK6 Investments LLC | Reduced | $753.1k9.0k shares |
| Walleye Trading LLC | Reduced | $435.1k5.2k shares |
| TUDOR INVESTMENT CORP ET AL | Reduced | $251.0k3.0k shares |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main | Unchanged | $39.7k500 shares |
| Cubist Systematic Strategies, LLC | Reduced | $16.7k200 shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $64.9m775.9k shares |
| CITADEL ADVISORS LLC | Reduced | $35.2m420.7k shares |
| Caption Management, LLC | Added | $16.9m201.6k shares |
| JANE STREET GROUP, LLC | Reduced | $14.8m177.3k shares |
| CLEAR STREET LLC | New | $11.4m136.6k shares |
| WOLVERINE TRADING, LLC | Reduced | $8.7m103.6k shares |
| Parallax Volatility Advisers, L.P. | Unchanged | $8.1m96.2k shares |
| SIMPLEX TRADING, LLC | Added | $2.6m31.5k shares |
| HAP Trading, LLC | Added | $2.0m435.3k shares |
| Skaana Management L.P. | Added | $1.3m15.5k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| BlackRock, Inc. 13G · institution -2.4 pts · filed 2025-04-17 | 7.6% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 7.5% |
| STATE STREET CORP 13G · institution +1.2 pts · filed 2026-08-07 | 6.5% |
Fell to 5% or below in the last year: Capital Research Global Investors (2.8%, 2026-05-14), VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD CAPITAL MANAGEMENT LLC), PRICE T ROWE ASSOCIATES INC /MD/ (4.6%, 2025-11-14)
Insider purchases and sales in Q2 2023
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q3 2021 | 0 | — | 0 | — | — |
| Q4 2021 | 0 | — | 0 | — | — |
| Q1 2022 | 0 | — | 0 | — | — |
| Q2 2022 | 3 | $996.5k | 0 | — | — |
| Q3 2022 | 0 | — | 0 | — | — |
| Q4 2022 | 0 | — | 0 | — | — |
| Q1 2023 | 0 | — | 0 | — | — |
| Q2 2023 | 0 | — | 0 | — | — |
None reported in Q2 2023.
Holders, Q2 2023
| Manager | Shares | Change |
|---|---|---|
| Blackstone Inc. 4.62% of their portfolio | 12.7m $1.1bn | Unchanged |
| VANGUARD GROUP INC 0.02% of their portfolio | 12.6m $1.1bn | Reduced -134.5k |
| Capital World Investors 0.16% of their portfolio | 9.7m $813.0m | Reduced -135.2k |
| OAKTREE CAPITAL MANAGEMENT LP 8.34% of their portfolio | 7.3m $615.0m | Reduced -1.2m |
| BlackRock Inc. 0.01% of their portfolio | 6.4m $533.2m | Reduced -359.9k |
| WELLINGTON MANAGEMENT GROUP LLP 0.10% of their portfolio | 6.0m $505.3m | Added +1.1m |
| T. Rowe Price Investment Management, Inc. 0.33% of their portfolio | 5.7m $479.7m | Added +4.1m |
| LORD, ABBETT & CO. LLC 0.66% of their portfolio | 4.6m $384.4m | Reduced -400.7k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.09% of their portfolio | 3.2m $265.1m | Added +220.4k |
| PRUDENTIAL FINANCIAL INC 0.35% of their portfolio | 2.9m $243.9m | Reduced -4.4k |
| Clearbridge Investments, LLC 0.22% of their portfolio | 2.9m $240.9m | Added +220.3k |
| Bank of New York Mellon Corp 0.05% of their portfolio | 2.8m $235.0m | Added +527.6k |
| Kimmeridge Energy Management Company, LLC 9.43% of their portfolio | 2.7m $227.2m | Unchanged |
| FMR LLC 0.02% of their portfolio | 2.3m $195.6m | Reduced -2.7m |
| STATE STREET CORP 0.01% of their portfolio | 2.3m $193.6m | Added +5.0k |
| Glendon Capital Management LP 17.31% of their portfolio | 2.1m $177.7m | Unchanged |
| GEODE CAPITAL MANAGEMENT, LLC 0.02% of their portfolio | 1.8m $154.5m | Added +71.5k |
| Pacer Advisors, Inc. 0.60% of their portfolio | 1.8m $149.2m | Added +22.1k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.02% of their portfolio | 1.7m $143.8m | Reduced -391.5k |
| DIMENSIONAL FUND ADVISORS LP 0.04% of their portfolio | 1.6m $132.8m | Added +216.9k |
| Slate Path Capital LP 4.31% of their portfolio | 1.4m $117.9m | Reduced -500.0k |
| Ceredex Value Advisors LLC 1.65% of their portfolio | 1.2m $102.3m | Added +7.9k |
| Thrivent Financial for Lutherans 0.23% of their portfolio | 1.2m $101.5m | New |
| CITADEL ADVISORS LLC 0.11% of their portfolio | 1.2m $99.8m | Added +1.1m |
| JPMORGAN CHASE & CO 0.01% of their portfolio | 1.2m $96.3m | Reduced -149.5k |
| Invesco Ltd. 0.02% of their portfolio | 1.1m $92.3m | Reduced -27.7k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.16% of their portfolio | 885.8k $74.1m | Reduced -110.0k |
| LSV ASSET MANAGEMENT 0.16% of their portfolio | 866.3k $72.5m | Reduced -37.7k |
| GOLDMAN SACHS GROUP INC 0.02% of their portfolio | 777.4k $65.1m | Reduced -60.2k |
| Cannell & Co. 2.12% of their portfolio | 762.8k $63.8m | Reduced -21.4k |
| THOMPSON SIEGEL & WALMSLEY LLC 0.99% of their portfolio | 746.4k $62.5m | Reduced -41.1k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 723.5k $60.5m | Added +65.3k |
| MORGAN STANLEY 0.01% of their portfolio | 711.5k $59.5m | Added +214.9k |
| JANUS HENDERSON GROUP PLC 0.04% of their portfolio | 701.4k $58.7m | Added +235.8k |
| FIRST TRUST ADVISORS LP 0.06% of their portfolio | 658.8k $55.1m | Reduced -27.2k |
| KADENSA CAPITAL Ltd 9.34% of their portfolio | 634.1k $53.1m | Reduced -36.6k |
| NEUBERGER BERMAN GROUP LLC 0.05% of their portfolio | 618.1k $51.7m | Reduced -18.5k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 591.7k $49.5m | Added +918 |
| NORTHERN TRUST CORP 0.01% of their portfolio | 551.2k $46.1m | Reduced -11.3k |
| MACQUARIE GROUP LTD 0.05% of their portfolio | 543.7k $45.5m | Reduced -60.0k |
| Allianz Asset Management GmbH 0.09% of their portfolio | 516.3k $43.2m | Reduced -5.4k |
| Nuveen Asset Management, LLC 0.01% of their portfolio | 506.6k $42.4m | Reduced -23.1k |
| Patient Capital Management, LLC 2.33% of their portfolio | 500.8k $41.9m | Added +436.3k |
| SIR Capital Management, L.P. 4.43% of their portfolio | 483.5k $40.5m | Reduced -102.8k |
| CAUSEWAY CAPITAL MANAGEMENT LLC 1.04% of their portfolio | 473.8k $39.6m | Added +182.8k |
| Amundi 0.02% of their portfolio | 437.0k $36.6m | Added +26.3k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.02% of their portfolio | 436.4k $33.2m | Unchanged |
| Swiss National Bank 0.02% of their portfolio | 413.5k $34.6m | Reduced -37.3k |
| Legal & General Group Plc 0.01% of their portfolio | 409.6k $34.3m | Reduced -68.9k |
| MILLENNIUM MANAGEMENT LLC 0.04% of their portfolio | 405.8k $34.0m | New |
| CIBC Private Wealth Group LLC 0.04% of their portfolio | 401.2k $33.6m | Added +100.6k |
| AMERIPRISE FINANCIAL INC 0.01% of their portfolio | 384.0k $32.1m | Added +12.6k |
| Wolf Hill Capital Management, LP 2.60% of their portfolio | 380.4k $31.8m | Added +179.6k |
| SCHWARTZ INVESTMENT COUNSEL INC 1.34% of their portfolio | 378.9k $31.7m | Reduced -61.0k |
| VAN ECK ASSOCIATES CORP 0.07% of their portfolio | 372.6k $31.2m | Reduced -14.4k |
| Korea Investment CORP 0.08% of their portfolio | 336.8k $28.2m | Reduced -3.0k |
| Walleye Capital LLC 0.42% of their portfolio | 287.5k $24.1m | Added +272.3k |
| Grantham, Mayo, Van Otterloo & Co. LLC 0.11% of their portfolio | 279.8k $23.4m | New |
| Castle Hook Partners LP 2.16% of their portfolio | 276.7k $23.2m | Unchanged |
| Hodges Capital Management Inc. 0.02% of their portfolio | 265.6k $30.1k | Added +76.7k |
| River Road Asset Management, LLC 0.30% of their portfolio | 262.5k $22.0m | Added +8.9k |
| WHITEBOX ADVISORS LLC 1.03% of their portfolio | 255.2k $21.4m | Unchanged |
| JENNISON ASSOCIATES LLC 0.02% of their portfolio | 248.7k $20.8m | Reduced -34.6k |
| HAP Trading, LLC 5.70% of their portfolio | 241.4k $20.2m | Reduced -44.0k |
| VOYA INVESTMENT MANAGEMENT LLC 0.02% of their portfolio | 237.2k $19.8m | Added +118.7k |
| Sumitomo Mitsui Trust Group, Inc. 0.02% of their portfolio | 232.5k $19.5m | Reduced -47.9k |
| WELLS FARGO & COMPANY/MN 0.01% of their portfolio | 229.4k $19.2m | Added +5.7k |
| DEUTSCHE BANK AG\ 0.01% of their portfolio | 228.3k $19.1m | Reduced -52.6k |
| California Public Employees Retirement System 0.02% of their portfolio | 225.8k $18.9m | Reduced -11.2k |
| Holocene Advisors, LP 0.08% of their portfolio | 220.1k $18.4m | New |
| Sagefield Capital LP 3.91% of their portfolio | 219.0k $18.3m | Added +7.6k |
| Alta Fundamental Advisers LLC 9.85% of their portfolio | 213.9k $17.9m | Reduced -50.0k |
| AQR CAPITAL MANAGEMENT LLC 0.04% of their portfolio | 213.4k $17.8m | Reduced -90.0k |
| APPALOOSA LP 0.32% of their portfolio | 203.0k $17.0m | Reduced -50.1k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.05% of their portfolio | 202.2k $16.9m | Added +50.1k |
| Mirae Asset Global Investments Co., Ltd. 0.03% of their portfolio | 188.5k $15.8m | Added +6.7k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.02% of their portfolio | 180.3k $15.1m | Reduced -1.8k |
| RAYMOND JAMES & ASSOCIATES 0.01% of their portfolio | 179.7k $15.0m | Reduced -7.3k |
| BARCLAYS PLC 0.01% of their portfolio | 179.7k $15.0m | Reduced -57.0k |
| ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio | 173.8k $14.5m | Added +14.3k |
| VAN LANSCHOT KEMPEN INVESTMENT MANAGEMENT N.V. 0.24% of their portfolio | 161.3k $13.5m | Added +898 |
| RIPOSTE CAPITAL LLC 5.63% of their portfolio | 160.0k $13.4m | Added +60.0k |
| M&G INVESTMENT MANAGEMENT LTD 0.08% of their portfolio | 157.9k $13.3m | New |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 149.3k $12.5m | Reduced -2.7k |
| PICTET ASSET MANAGEMENT SA 0.01% of their portfolio | 149.3k $12.5m | Added +113.6k |
| BRANDES INVESTMENT PARTNERS, LP 0.25% of their portfolio | 147.9k $12.4m | Added +1.6k |
| Janney Capital Management LLC 0.82% of their portfolio | 142.3k $11.9m | Added +3.5k |
| RHUMBLINE ADVISERS 0.01% of their portfolio | 141.1k $11.8m | Added +11.6k |
| CLEAR STREET LLC 0.27% of their portfolio | 136.6k $11.4m | New |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.02% of their portfolio | 131.4k $11.0m | Added +7.4k |
| CLOUGH CAPITAL PARTNERS L P 1.07% of their portfolio | 126.5k $10.6m | New |
| THORNBURG INVESTMENT MANAGEMENT INC 0.16% of their portfolio | 121.4k $10.2m | Reduced -43.1k |
| Ensign Peak Advisors, Inc 0.02% of their portfolio | 118.4k $9.9m | Added +20.7k |
| TCW GROUP INC 0.11% of their portfolio | 116.2k $9.7m | Reduced -55.5k |
| Cadence Bank 0.85% of their portfolio | 115.9k $9.7m | Added +1.8k |
| MARSHALL WACE, LLP 0.02% of their portfolio | 115.0k $9.6m | Reduced -367 |
| Employees Retirement System of Texas 0.13% of their portfolio | 113.4k $9.5m | Unchanged |
| Caption Management, LLC 1.64% of their portfolio | 111.5k $9.3m | Reduced -17.2k |
| Prospera Financial Services Inc 0.34% of their portfolio | 107.5k $9.0m | Added +6.8k |
| Gotham Asset Management, LLC 0.20% of their portfolio | 107.3k $9.0m | Added +65.8k |