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 ($57.5m this quarter). Holder counts are more reliable. Shares outstanding: 131.0m as of 2024-04-25, 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 ≈ $88.79. Options: 19 managers hold calls ($295.3m notional), 19 hold puts ($159.6m).
Trends to Q1 2024
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 |
| Q1 2024 | 495 |
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 |
| Q1 2024 | 239 | 251 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2023 | $173.0m | $169.4m | 0.98 |
| Q3 2023 | $281.7m | $324.9m | 1.15 |
| Q4 2023 | $145.5m | $159.6m | 1.10 |
| Q1 2024 | $295.3m | $159.6m | 0.54 |
Biggest buyers
| PRICE T ROWE ASSOCIATES INC /MD/ | Added | +6.3m |
| T. Rowe Price Investment Management, Inc. | Added | +4.0m |
| FIRST TRUST ADVISORS LP | Added | +2.9m |
| MORGAN STANLEY | Added | +1.5m |
| TWO SIGMA INVESTMENTS, LP | Added | +993.0k |
| WELLINGTON MANAGEMENT GROUP LLP | Added | +917.4k |
| DIMENSIONAL FUND ADVISORS LP | Added | +864.3k |
| Cannell & Spears LLC | New | +795.5k |
| LORD, ABBETT & CO. LLC | Added | +615.6k |
| Invesco Ltd. | Added | +546.0k |
Biggest sellers
| Capital World Investors | Reduced | -2.5m |
| Pacer Advisors, Inc. | Reduced | -1.2m |
| Nuveen Asset Management, LLC | Reduced | -976.8k |
| PRUDENTIAL FINANCIAL INC | Reduced | -931.4k |
| Clearbridge Investments, LLC | Reduced | -748.7k |
| Point72 Asset Management, L.P. | Sold out | -659.1k |
| KADENSA CAPITAL Ltd | Reduced | -551.4k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | Reduced | -491.0k |
| Sourcerock Group LLC | Sold out | -430.0k |
| SCOUT INVESTMENTS, INC. | Sold out | -416.9k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $97.7m1.1m shares |
| Walleye Trading LLC | Added | $81.1m913.3k shares |
| CITADEL ADVISORS LLC | Added | $54.8m616.4k shares |
| MILLENNIUM MANAGEMENT LLC | Added | $13.6m153.2k shares |
| Squarepoint Ops LLC | Added | $10.5m118.4k shares |
| BANK OF AMERICA CORP /DE/ | Added | $8.9m100.6k shares |
| Caption Management, LLC | Added | $8.9m100.0k shares |
| Parallax Volatility Advisers, L.P. | Added | $6.7m75.0k shares |
| UBS Group AG | Unchanged | $4.0m45.4k shares |
| READYSTATE ASSET MANAGEMENT LP | New | $3.2m36.5k shares |
Biggest puts
| UBS Group AG | New | $33.5m377.5k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $24.0m270.5k shares |
| CITADEL ADVISORS LLC | Added | $23.6m265.4k shares |
| BANK OF AMERICA CORP /DE/ | Reduced | $20.0m225.0k shares |
| MILLENNIUM MANAGEMENT LLC | Added | $16.8m188.7k shares |
| Squarepoint Ops LLC | Added | $12.8m143.9k shares |
| SIMPLEX TRADING, LLC | Added | $8.5m95.4k shares |
| READYSTATE ASSET MANAGEMENT LP | New | $3.9m43.5k shares |
| PEAK6 Investments LLC | Added | $3.2m36.4k shares |
| JANE STREET GROUP, LLC | Reduced | $3.0m34.1k 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 Q1 2024
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 |
|---|---|---|---|---|---|
| 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 | — | — |
| Q1 2024 | 0 | — | 0 | — | — |
None reported in Q1 2024.
Holders, Q1 2024
| Manager | Shares | Change |
|---|---|---|
| T. Rowe Price Investment Management, Inc. 0.70% of their portfolio | 12.8m $1.1bn | Added +4.0m |
| Blackstone Inc. 4.85% of their portfolio | 12.7m $1.1bn | Added +11.5k |
| VANGUARD GROUP INC 0.02% of their portfolio | 12.6m $1.1bn | Reduced -69.4k |
| BlackRock Inc. 0.02% of their portfolio | 11.4m $1.0bn | Added +206.7k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.10% of their portfolio | 9.1m $804.8m | Added +6.3m |
| OAKTREE CAPITAL MANAGEMENT LP 9.95% of their portfolio | 7.0m $620.4m | Reduced -16.0k |
| WELLINGTON MANAGEMENT GROUP LLP 0.09% of their portfolio | 5.8m $518.7m | Added +917.4k |
| LORD, ABBETT & CO. LLC 0.75% of their portfolio | 5.2m $461.8m | Added +615.6k |
| STATE STREET CORP 0.02% of their portfolio | 3.9m $350.6m | Added +25.4k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.10% of their portfolio | 3.8m $339.9m | Reduced -491.0k |
| FIRST TRUST ADVISORS LP 0.32% of their portfolio | 3.5m $313.3m | Added +2.9m |
| MORGAN STANLEY 0.01% of their portfolio | 3.0m $265.6m | Added +1.5m |
| Kimmeridge Energy Management Company, LLC 12.18% of their portfolio | 2.9m $254.8m | Reduced -286.0k |
| DIMENSIONAL FUND ADVISORS LP 0.07% of their portfolio | 2.8m $250.8m | Added +864.3k |
| Bank of New York Mellon Corp 0.04% of their portfolio | 2.6m $231.0m | Reduced -236.0k |
| Thrivent Financial for Lutherans 0.46% of their portfolio | 2.6m $228.6m | Added +13.8k |
| GEODE CAPITAL MANAGEMENT, LLC 0.02% of their portfolio | 2.3m $208.3m | Added +279.7k |
| Glendon Capital Management LP 14.61% of their portfolio | 2.1m $188.6m | Unchanged |
| Invesco Ltd. 0.04% of their portfolio | 1.9m $165.6m | Added +546.0k |
| JPMORGAN CHASE & CO 0.01% of their portfolio | 1.8m $163.6m | Reduced -238.2k |
| FMR LLC 0.01% of their portfolio | 1.5m $136.5m | Reduced -257.3k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 1.4m $121.2m | Added +362.1k |
| Ceredex Value Advisors LLC 2.02% of their portfolio | 1.3m $115.4m | Reduced -167.6k |
| PRUDENTIAL FINANCIAL INC 0.14% of their portfolio | 1.1m $101.1m | Reduced -931.4k |
| TWO SIGMA INVESTMENTS, LP 0.22% of their portfolio | 1.0m $91.2m | Added +993.0k |
| VOYA INVESTMENT MANAGEMENT LLC 0.08% of their portfolio | 910.3k $80.9m | Added +265.7k |
| Capital World Investors 0.01% of their portfolio | 818.2k $72.7m | Reduced -2.5m |
| Cannell & Spears LLC 1.46% of their portfolio | 795.5k $70.7m | New |
| LSV ASSET MANAGEMENT 0.14% of their portfolio | 755.0k $67.1m | Reduced -67.2k |
| NORTHERN TRUST CORP 0.01% of their portfolio | 739.1k $65.7m | Reduced -121.1k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 672.2k $59.7m | Added +31.9k |
| JANUS HENDERSON GROUP PLC 0.03% of their portfolio | 634.6k $56.4m | Reduced -8.6k |
| Encompass Capital Advisors LLC 2.86% of their portfolio | 593.6k $52.7m | Reduced -76.2k |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 572.7k $50.9m | Reduced -194.5k |
| MACQUARIE GROUP LTD 0.05% of their portfolio | 551.2k $48.6m | Reduced -78.8k |
| NEUBERGER BERMAN GROUP LLC 0.04% of their portfolio | 524.8k $46.6m | Reduced -36.5k |
| THOMPSON SIEGEL & WALMSLEY LLC 0.66% of their portfolio | 484.8k $43.1m | Reduced -325.1k |
| PRINCIPAL FINANCIAL GROUP INC 0.02% of their portfolio | 468.1k $41.6m | Added +6.6k |
| Clearbridge Investments, LLC 0.03% of their portfolio | 459.5k $40.8m | Reduced -748.7k |
| Amundi 0.02% of their portfolio | 453.3k $39.6m | Added +18.7k |
| Legal & General Group Plc 0.01% of their portfolio | 423.6k $37.6m | Reduced -26.7k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.01% of their portfolio | 423.6k $37.6m | Reduced -4.0k |
| DEPRINCE RACE & ZOLLO INC 0.76% of their portfolio | 400.0k $35.5m | Added +90.9k |
| Nuveen Asset Management, LLC 0.01% of their portfolio | 345.5k $30.7m | Reduced -976.8k |
| VAN ECK ASSOCIATES CORP 0.05% of their portfolio | 338.7k $30.1m | Reduced -10.8k |
| RENAISSANCE TECHNOLOGIES LLC 0.05% of their portfolio | 333.9k $29.7m | New |
| Swiss National Bank 0.02% of their portfolio | 332.9k $29.6m | Reduced -18.9k |
| RHUMBLINE ADVISERS 0.03% of their portfolio | 328.3k $29.2m | Reduced -8.2k |
| WORLDQUANT MILLENNIUM ADVISORS LLC 0.35% of their portfolio | 322.8k $28.7m | Added +259.1k |
| CITADEL ADVISORS LLC 0.03% of their portfolio | 318.5k $28.3m | Added +17.9k |
| Retirement Systems of Alabama 0.11% of their portfolio | 310.0k $27.5m | Added +46.8k |
| Holocene Advisors, LP 0.10% of their portfolio | 307.0k $27.3m | New |
| SCHWARTZ INVESTMENT COUNSEL INC 0.98% of their portfolio | 303.2k $26.9m | Reduced -81.0k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.02% of their portfolio | 298.8k $26.5m | New |
| UBS Group AG 0.01% of their portfolio | 284.9k $25.3m | Reduced -114.5k |
| Grantham, Mayo, Van Otterloo & Co. LLC 0.09% of their portfolio | 278.4k $24.7m | Reduced -131.9k |
| AMERIPRISE FINANCIAL INC 0.01% of their portfolio | 275.7k $24.5m | Added +132.8k |
| TD Asset Management Inc 0.02% of their portfolio | 273.6k $24.3m | Added +111.5k |
| Patient Capital Management, LLC 1.18% of their portfolio | 273.4k $24.3m | Reduced -326 |
| Castle Hook Partners LP 0.85% of their portfolio | 263.7k $23.4m | Added +115.8k |
| SASCO CAPITAL INC / CT/ 2.96% of their portfolio | 249.0k $22.1m | Unchanged |
| WEDGE CAPITAL MANAGEMENT L L P/NC 0.35% of their portfolio | 244.5k $21.7m | Added +1.4k |
| Waratah Capital Advisors Ltd. 1.08% of their portfolio | 236.6k $21.0m | New |
| Sumitomo Mitsui Trust Group, Inc. 0.01% of their portfolio | 224.4k $19.9m | Reduced -4.5k |
| Zurich Insurance Group Ltd/FI 0.18% of their portfolio | 221.1k $19.6m | New |
| Vest Financial, LLC 0.52% of their portfolio | 220.1k $19.5m | New |
| California Public Employees Retirement System 0.01% of their portfolio | 219.7k $19.5m | Reduced -6.3k |
| Alta Fundamental Advisers LLC 9.50% of their portfolio | 213.9k $19.0m | Unchanged |
| APPALOOSA LP 0.27% of their portfolio | 203.0k $18.0m | Unchanged |
| JENNISON ASSOCIATES LLC 0.01% of their portfolio | 200.1k $17.8m | Added +2.5k |
| Foundry Partners, LLC 0.94% of their portfolio | 198.4k $17.6m | Added +29.9k |
| 1832 Asset Management L.P. 0.03% of their portfolio | 197.8k $17.6m | Added +31.9k |
| ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio | 196.1k $17.4m | Added +2 |
| River Road Asset Management, LLC 0.23% of their portfolio | 195.7k $17.4m | Reduced -16.3k |
| Hartree Partners, LP 4.38% of their portfolio | 190.0k $16.9m | Added +32.0k |
| BRANDES INVESTMENT PARTNERS, LP 0.21% of their portfolio | 188.0k $16.7m | Added +29.1k |
| BARCLAYS PLC 0.01% of their portfolio | 182.3k $16.2m | Reduced -5.8k |
| Mirae Asset Global Investments Co., Ltd. 0.03% of their portfolio | 181.2k $13.8m | Reduced -7.6k |
| Vident Advisory, LLC 0.33% of their portfolio | 176.0k $15.6m | Added +47.6k |
| Woodline Partners LP 0.14% of their portfolio | 173.4k $15.4m | New |
| VAN LANSCHOT KEMPEN INVESTMENT MANAGEMENT N.V. 0.19% of their portfolio | 173.2k $15.4m | Added +2.5k |
| KBC Group NV 0.05% of their portfolio | 172.5k $15.3m | Added +159.6k |
| CIBC Private Wealth Group LLC 0.03% of their portfolio | 167.6k $15.0m | Reduced -33.0k |
| CHARTWELL INVESTMENT PARTNERS, LLC 0.51% of their portfolio | 164.5k $14.6m | Reduced -23.3k |
| Sagefield Capital LP 1.77% of their portfolio | 163.3k $14.5m | Reduced -98.1k |
| AMERICAN CENTURY COMPANIES INC 0.01% of their portfolio | 154.0k $13.7m | Added +27.2k |
| AQR CAPITAL MANAGEMENT LLC 0.02% of their portfolio | 153.9k $13.7m | Reduced -58.0k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 152.3k $13.5m | Reduced -769 |
| DEUTSCHE BANK AG\ 0.01% of their portfolio | 151.5k $13.5m | Reduced -85.2k |
| Cubist Systematic Strategies, LLC 0.15% of their portfolio | 151.3k $13.4m | New |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.02% of their portfolio | 149.7k $13.3m | Reduced -8.5k |
| AMERICAN INTERNATIONAL GROUP, INC. 0.05% of their portfolio | 147.3k $13.1m | Reduced -3.3k |
| TWO SIGMA ADVISERS, LP 0.03% of their portfolio | 146.8k $13.0m | New |
| Hodges Capital Management Inc. 0.81% of their portfolio | 142.0k $12.6m | Reduced -21.2k |
| CLOUGH CAPITAL PARTNERS L P 1.37% of their portfolio | 140.7k $12.5m | Reduced -75.6k |
| M&G PLC 0.07% of their portfolio | 139.0k $12.4m | First filing |
| Cambria Investment Management, L.P. 0.73% of their portfolio | 137.8k $12.2m | New |
| VICTORY CAPITAL MANAGEMENT INC 0.01% of their portfolio | 135.1k $12.0m | Added +1.8k |
| Janney Capital Management LLC 0.78% of their portfolio | 132.0k $11.7m | Reduced -5.3k |
| DANSKE BANK A/S 0.04% of their portfolio | 126.9k $11.3m | First filing |