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 ($34.6m this quarter). Holder counts are more reliable. Shares outstanding: 131.1m as of 2023-10-27, 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 ≈ $76.95. Options: 19 managers hold calls ($145.5m notional), 23 hold puts ($159.6m).
Trends to Q4 2023
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 435 |
| Q4 2022 | 491 |
| Q1 2023 | 458 |
| Q2 2023 | 457 |
| Q3 2023 | 479 |
| Q4 2023 | 468 |
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 |
| Q3 2023 | 258 | 199 |
| Q4 2023 | 172 | 280 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2023 | $122.5m | $181.7m | 1.48 |
| Q2 2023 | $173.0m | $169.4m | 0.98 |
| Q3 2023 | $281.7m | $324.9m | 1.15 |
| Q4 2023 | $145.5m | $159.6m | 1.10 |
Biggest buyers
| T. Rowe Price Investment Management, Inc. | Added | +2.1m |
| Thrivent Financial for Lutherans | Added | +1.1m |
| JPMORGAN CHASE & CO | Added | +810.6k |
| PRICE T ROWE ASSOCIATES INC /MD/ | Added | +802.2k |
| Encompass Capital Advisors LLC | New | +669.8k |
| Point72 Asset Management, L.P. | New | +659.1k |
| MORGAN STANLEY | Added | +592.4k |
| Sourcerock Group LLC | New | +430.0k |
| SCOUT INVESTMENTS, INC. | New | +416.9k |
| CITADEL ADVISORS LLC | Added | +291.9k |
Biggest sellers
| Capital World Investors | Reduced | -2.3m |
| Clearbridge Investments, LLC | Reduced | -1.7m |
| Slate Path Capital LP | Sold out | -1.1m |
| LORD, ABBETT & CO. LLC | Reduced | -863.8k |
| FMR LLC | Reduced | -655.1k |
| AQR CAPITAL MANAGEMENT LLC | Reduced | -408.6k |
| Bank of New York Mellon Corp | Reduced | -399.2k |
| AMERIPRISE FINANCIAL INC | Reduced | -335.1k |
| Pacer Advisors, Inc. | Reduced | -332.4k |
| CAUSEWAY CAPITAL MANAGEMENT LLC | Reduced | -292.1k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $66.9m869.9k shares |
| CITADEL ADVISORS LLC | Reduced | $29.8m386.8k shares |
| CITIGROUP INC | New | $15.4m200.0k shares |
| WELLS FARGO & COMPANY/MN | New | $8.9m115.1k shares |
| Walleye Trading LLC | Reduced | $4.1m53.7k shares |
| UBS Group AG | New | $3.5m45.4k shares |
| Caption Management, LLC | New | $3.5m45.0k shares |
| Point72 Asset Management, L.P. | Reduced | $3.0m39.3k shares |
| Walleye Capital LLC | Added | $2.7m35.5k shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $1.8m23.1k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $54.3m706.0k shares |
| BANK OF AMERICA CORP /DE/ | Added | $25.2m327.5k shares |
| Twin Tree Management, LP | Reduced | $19.6m254.8k shares |
| CITADEL ADVISORS LLC | Reduced | $15.9m206.4k shares |
| JANE STREET GROUP, LLC | Reduced | $8.6m111.8k shares |
| Parallax Volatility Advisers, L.P. | Reduced | $7.4m96.2k shares |
| WOLVERINE TRADING, LLC | Reduced | $4.9m63.8k shares |
| SIMPLEX TRADING, LLC | Added | $4.7m60.7k shares |
| MILLENNIUM MANAGEMENT LLC | Added | $4.6m59.8k shares |
| Point72 Asset Management, L.P. | Reduced | $3.1m40.4k 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 Q4 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 |
|---|---|---|---|---|---|
| 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 | — | — |
| Q3 2023 | 0 | — | 0 | — | — |
| Q4 2023 | 0 | — | 0 | — | — |
None reported in Q4 2023.
Holders, Q4 2023
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.02% of their portfolio | 12.7m $975.1m | Reduced -179.9k |
| Blackstone Inc. 4.51% of their portfolio | 12.7m $974.5m | Unchanged |
| BlackRock Inc. 0.02% of their portfolio | 11.2m $863.9m | Reduced -194.1k |
| T. Rowe Price Investment Management, Inc. 0.44% of their portfolio | 8.8m $676.5m | Added +2.1m |
| OAKTREE CAPITAL MANAGEMENT LP 8.46% of their portfolio | 7.0m $538.6m | Unchanged |
| WELLINGTON MANAGEMENT GROUP LLP 0.07% of their portfolio | 4.9m $378.7m | Reduced -270.7k |
| LORD, ABBETT & CO. LLC 0.63% of their portfolio | 4.6m $352.6m | Reduced -863.8k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.11% of their portfolio | 4.3m $332.2m | Added +213.2k |
| STATE STREET CORP 0.01% of their portfolio | 3.9m $301.8m | Added +253.5k |
| Capital World Investors 0.05% of their portfolio | 3.3m $254.8m | Reduced -2.3m |
| Kimmeridge Energy Management Company, LLC 11.03% of their portfolio | 3.2m $242.7m | Unchanged |
| Bank of New York Mellon Corp 0.04% of their portfolio | 2.8m $218.3m | Reduced -399.2k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.03% of their portfolio | 2.7m $209.3m | Added +802.2k |
| Thrivent Financial for Lutherans 0.43% of their portfolio | 2.6m $197.0m | Added +1.1m |
| Glendon Capital Management LP 12.34% of their portfolio | 2.1m $163.3m | Unchanged |
| JPMORGAN CHASE & CO 0.01% of their portfolio | 2.1m $160.1m | Added +810.6k |
| PRUDENTIAL FINANCIAL INC 0.24% of their portfolio | 2.1m $159.2m | Reduced -124.5k |
| GEODE CAPITAL MANAGEMENT, LLC 0.02% of their portfolio | 2.1m $158.9m | Added +49.3k |
| DIMENSIONAL FUND ADVISORS LP 0.04% of their portfolio | 2.0m $150.7m | Added +265.9k |
| FMR LLC 0.01% of their portfolio | 1.8m $138.0m | Reduced -655.1k |
| Ceredex Value Advisors LLC 1.96% of their portfolio | 1.5m $112.9m | Reduced -44.6k |
| MORGAN STANLEY 0.00% of their portfolio | 1.4m $111.3m | Added +592.4k |
| Nuveen Asset Management, LLC 0.03% of their portfolio | 1.3m $101.7m | Reduced -91.5k |
| Invesco Ltd. 0.02% of their portfolio | 1.3m $101.4m | Added +2.5k |
| Clearbridge Investments, LLC 0.08% of their portfolio | 1.2m $93.0m | Reduced -1.7m |
| Pacer Advisors, Inc. 0.26% of their portfolio | 1.2m $92.4m | Reduced -332.4k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 1.0m $77.1m | Added +47.4k |
| NORTHERN TRUST CORP 0.01% of their portfolio | 860.2k $66.2m | Reduced -10.0k |
| Cannell & Co. 2.01% of their portfolio | 824.8k $63.5m | Added +58.3k |
| LSV ASSET MANAGEMENT 0.14% of their portfolio | 822.2k $63.3m | Reduced -36.3k |
| THOMPSON SIEGEL & WALMSLEY LLC 1.01% of their portfolio | 810.0k $62.3m | Added +93.2k |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 767.2k $59.0m | Reduced -216.1k |
| Encompass Capital Advisors LLC 3.01% of their portfolio | 669.8k $51.5m | New |
| Point72 Asset Management, L.P. 0.15% of their portfolio | 659.1k $50.7m | New |
| VOYA INVESTMENT MANAGEMENT LLC 0.05% of their portfolio | 644.7k $49.6m | Added +142.5k |
| JANUS HENDERSON GROUP PLC 0.03% of their portfolio | 643.2k $49.5m | Reduced -77.9k |
| FIRST TRUST ADVISORS LP 0.05% of their portfolio | 640.4k $49.3m | Added +2.2k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 640.3k $49.3m | Added +11.1k |
| MACQUARIE GROUP LTD 0.06% of their portfolio | 630.0k $48.5m | Added +63.4k |
| KADENSA CAPITAL Ltd 11.79% of their portfolio | 607.7k $46.8m | Added +31.4k |
| NEUBERGER BERMAN GROUP LLC 0.04% of their portfolio | 561.3k $43.2m | Reduced -51.0k |
| PRINCIPAL FINANCIAL GROUP INC 0.02% of their portfolio | 461.6k $35.5m | Reduced -29.4k |
| Legal & General Group Plc 0.01% of their portfolio | 450.4k $34.7m | Reduced -22.3k |
| Amundi 0.02% of their portfolio | 434.7k $34.1m | Reduced -5.6k |
| Sourcerock Group LLC 3.28% of their portfolio | 430.0k $33.1m | New |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.01% of their portfolio | 427.7k $32.9m | Reduced -65.2k |
| SCOUT INVESTMENTS, INC. 0.80% of their portfolio | 416.9k $32.1m | New |
| Grantham, Mayo, Van Otterloo & Co. LLC 0.14% of their portfolio | 410.3k $31.6m | Added +6.6k |
| UBS Group AG 0.01% of their portfolio | 399.5k $30.7m | Added +101.5k |
| SCHWARTZ INVESTMENT COUNSEL INC 1.15% of their portfolio | 384.2k $29.6m | Added +3.2k |
| CAUSEWAY CAPITAL MANAGEMENT LLC 0.75% of their portfolio | 381.1k $29.3m | Reduced -292.1k |
| Swiss National Bank 0.02% of their portfolio | 351.8k $27.1m | Reduced -13.9k |
| VAN ECK ASSOCIATES CORP 0.05% of their portfolio | 349.5k $26.9m | Reduced -14.6k |
| RHUMBLINE ADVISERS 0.03% of their portfolio | 336.5k $25.9m | Reduced -11.8k |
| DEPRINCE RACE & ZOLLO INC 0.54% of their portfolio | 309.0k $23.8m | Added +41.7k |
| CITADEL ADVISORS LLC 0.02% of their portfolio | 300.6k $23.1m | Added +291.9k |
| Allianz Asset Management GmbH 0.04% of their portfolio | 284.9k $21.9m | Reduced -191.7k |
| Patient Capital Management, LLC 1.12% of their portfolio | 273.7k $21.1m | Reduced -45.0k |
| Retirement Systems of Alabama 0.09% of their portfolio | 263.2k $20.3m | Added +9.8k |
| Sagefield Capital LP 2.60% of their portfolio | 261.4k $20.1m | Reduced -24.8k |
| SASCO CAPITAL INC / CT/ 2.25% of their portfolio | 249.0k $19.2m | Reduced -38.9k |
| WEDGE CAPITAL MANAGEMENT L L P/NC 0.33% of their portfolio | 243.1k $18.7m | Added +39.6k |
| DEUTSCHE BANK AG\ 0.01% of their portfolio | 236.7k $18.2m | Reduced -25.2k |
| Sumitomo Mitsui Trust Group, Inc. 0.01% of their portfolio | 228.8k $17.6m | Reduced -23.4k |
| California Public Employees Retirement System 0.01% of their portfolio | 226.0k $17.4m | Reduced -13.3k |
| CLOUGH CAPITAL PARTNERS L P 1.84% of their portfolio | 216.3k $16.6m | Reduced -34.6k |
| Alta Fundamental Advisers LLC 8.80% of their portfolio | 213.9k $16.5m | Unchanged |
| River Road Asset Management, LLC 0.23% of their portfolio | 212.1k $16.3m | Reduced -46.6k |
| AQR CAPITAL MANAGEMENT LLC 0.03% of their portfolio | 211.9k $16.3m | Reduced -408.6k |
| APPALOOSA LP 0.28% of their portfolio | 203.0k $15.6m | Unchanged |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.03% of their portfolio | 200.8k $15.5m | Reduced -235.0k |
| CIBC Private Wealth Group LLC 0.03% of their portfolio | 200.6k $15.4m | Unchanged |
| JENNISON ASSOCIATES LLC 0.01% of their portfolio | 197.6k $15.2m | Reduced -52.2k |
| ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio | 196.1k $15.1m | Reduced -543 |
| JANE STREET GROUP, LLC 0.02% of their portfolio | 192.7k $14.8m | Reduced -10.9k |
| Mirae Asset Global Investments Co., Ltd. 0.03% of their portfolio | 188.8k $14.5m | Added +2.8k |
| BARCLAYS PLC 0.01% of their portfolio | 188.2k $14.5m | Reduced -105.7k |
| CHARTWELL INVESTMENT PARTNERS, LLC 0.51% of their portfolio | 187.8k $14.4m | Added +52.1k |
| VAN LANSCHOT KEMPEN INVESTMENT MANAGEMENT N.V. 0.18% of their portfolio | 170.7k $13.1m | Added +11.3k |
| Foundry Partners, LLC 0.78% of their portfolio | 168.5k $13.0m | Reduced -53.7k |
| 1832 Asset Management L.P. 0.02% of their portfolio | 165.8k $12.8m | Added +149.9k |
| Hodges Capital Management Inc. 0.68% of their portfolio | 163.2k $12.6m | Added +48.0k |
| TD Asset Management Inc 0.01% of their portfolio | 162.1k $12.5m | Added +147.6k |
| BRANDES INVESTMENT PARTNERS, LP 0.19% of their portfolio | 158.9k $12.2m | Reduced -25.1k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.02% of their portfolio | 158.2k $12.2m | Reduced -7.6k |
| Hartree Partners, LP 4.40% of their portfolio | 158.0k $12.2m | Added +125.0k |
| Connor, Clark & Lunn Investment Management Ltd. 0.05% of their portfolio | 153.4k $11.8m | New |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 153.1k $11.8m | Added +50.6k |
| HSBC HOLDINGS PLC 0.01% of their portfolio | 151.7k $11.7m | Added +77.3k |
| AMERICAN INTERNATIONAL GROUP, INC. 0.05% of their portfolio | 150.6k $11.6m | Reduced -8.0k |
| Castle Hook Partners LP 0.71% of their portfolio | 147.9k $11.4m | Reduced -228.4k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 145.4k $11.2m | Reduced -92.6k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 142.8k $11.0m | Reduced -335.1k |
| Gotham Asset Management, LLC 0.20% of their portfolio | 141.2k $10.9m | Added +45.2k |
| HAP Trading, LLC 3.16% of their portfolio | 140.1k $10.8m | Reduced -21.9k |
| M&G INVESTMENT MANAGEMENT LTD 0.06% of their portfolio | 139.0k $10.7m | Reduced -9.3k |
| Janney Capital Management LLC 0.71% of their portfolio | 137.3k $10.6m | Reduced -7.5k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.02% of their portfolio | 136.7k $10.5m | Added +9.7k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.02% of their portfolio | 135.7k $10.4m | Added +133.1k |
| VICTORY CAPITAL MANAGEMENT INC 0.01% of their portfolio | 133.3k $10.3m | Added +5.0k |