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 ($211.5m this quarter). Holder counts are more reliable. Shares outstanding: 231.0m as of 2024-10-24, 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 ≈ $99.55. Options: 31 managers hold calls ($761.3m notional), 26 hold puts ($501.8m).
Trends to Q4 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 |
| Q2 2024 | 471 |
| Q3 2024 | 468 |
| Q4 2024 | 641 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q1 2023 | 269 | 232 |
| Q2 2023 | 220 | 224 |
| Q3 2023 | 258 | 199 |
| Q4 2023 | 172 | 280 |
| Q1 2024 | 239 | 251 |
| Q2 2024 | 227 | 251 |
| Q3 2024 | 244 | 224 |
| Q4 2024 | 472 | 141 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2024 | $295.3m | $159.6m | 0.54 |
| Q2 2024 | $347.3m | $253.0m | 0.73 |
| Q3 2024 | $305.6m | $199.7m | 0.65 |
| Q4 2024 | $761.3m | $501.8m | 0.66 |
Biggest buyers
| BlackRock, Inc. | Added | +10.6m |
| VANGUARD GROUP INC | Added | +10.0m |
| Capital Research Global Investors | Added | +8.6m |
| FMR LLC | Added | +3.8m |
| DIMENSIONAL FUND ADVISORS LP | Added | +3.2m |
| DISCIPLINED GROWTH INVESTORS INC /MN | New | +2.7m |
| STATE STREET CORP | Added | +2.6m |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | Added | +1.9m |
| AGF MANAGEMENT LTD | Added | +1.9m |
| Kimmeridge Energy Management Company, LLC | Added | +1.7m |
Biggest sellers
| Blackstone Inc. | Reduced | -2.4m |
| Asia Research & Capital Management Ltd | Sold out | -1.8m |
| JPMORGAN CHASE & CO | Reduced | -1.2m |
| Balyasny Asset Management L.P. | Reduced | -576.5k |
| FIRST TRUST ADVISORS LP | Reduced | -391.4k |
| Capital World Investors | Reduced | -367.4k |
| Ceredex Value Advisors LLC | Reduced | -354.7k |
| TWO SIGMA INVESTMENTS, LP | Sold out | -340.5k |
| WELLINGTON MANAGEMENT GROUP LLP | Reduced | -335.5k |
| WORLDQUANT MILLENNIUM ADVISORS LLC | Reduced | -314.3k |
Biggest calls
| KGH Ltd | New | $201.6m2.0m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $132.3m1.3m shares |
| BANK OF AMERICA CORP /DE/ | Added | $81.2m815.8k shares |
| CITADEL ADVISORS LLC | Added | $72.9m732.5k shares |
| JANE STREET GROUP, LLC | Added | $47.1m472.8k shares |
| Walleye Trading LLC | Reduced | $38.9m391.1k shares |
| D. E. Shaw & Co., Inc. | Added | $26.1m262.6k shares |
| UBS Group AG | Added | $23.7m238.2k shares |
| Hiddenite Capital Partners LP | New | $19.9m200.0k shares |
| Caption Management, LLC | New | $18.9m190.0k shares |
Biggest puts
| BANK OF AMERICA CORP /DE/ | Added | $251.4m2.5m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $69.7m699.8k shares |
| CITADEL ADVISORS LLC | Added | $63.3m635.9k shares |
| BNP PARIBAS FINANCIAL MARKETS | New | $16.1m1.6k shares |
| MILLENNIUM MANAGEMENT LLC | Added | $15.1m152.1k shares |
| GROUP ONE TRADING LLC | New | $13.9m139.7k shares |
| ROYAL BANK OF CANADA | New | $12.4m124.5k shares |
| JANE STREET GROUP, LLC | Added | $10.3m103.6k shares |
| SIMPLEX TRADING, LLC | Reduced | $8.3m83.5k shares |
| Parallax Volatility Advisers, L.P. | Unchanged | $8.0m80.0k 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 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 |
|---|---|---|---|---|---|
| Q1 2023 | 0 | — | 0 | — | — |
| Q2 2023 | 0 | — | 0 | — | — |
| Q3 2023 | 0 | — | 0 | — | — |
| Q4 2023 | 0 | — | 0 | — | — |
| Q1 2024 | 0 | — | 0 | — | — |
| Q2 2024 | 0 | — | 0 | — | — |
| Q3 2024 | 0 | — | 0 | — | — |
| Q4 2024 | 0 | — | 1 | $4.3m | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2024-11-22 | Kehr Catherine A Director | Sold | $4.3m43.6k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q4 2024
| Manager | Shares | Change |
|---|---|---|
| BlackRock, Inc. 0.05% of their portfolio | 23.2m $2.3bn | Added +10.6m |
| VANGUARD GROUP INC 0.04% of their portfolio | 22.8m $2.3bn | Added +10.0m |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.16% of their portfolio | 14.1m $1.4bn | Reduced -97.0k |
| Capital Research Global Investors 0.21% of their portfolio | 10.4m $1.0bn | Added +8.6m |
| T. Rowe Price Investment Management, Inc. 0.64% of their portfolio | 10.4m $1.0bn | Added +130.7k |
| Blackstone Inc. 4.86% of their portfolio | 10.3m $1.0bn | Reduced -2.4m |
| STATE STREET CORP 0.03% of their portfolio | 7.9m $783.4m | Added +2.6m |
| OAKTREE CAPITAL MANAGEMENT LP 13.12% of their portfolio | 6.9m $690.6m | Added +66.5k |
| DIMENSIONAL FUND ADVISORS LP 0.16% of their portfolio | 6.5m $648.0m | Added +3.2m |
| Kimmeridge Energy Management Company, LLC 41.38% of their portfolio | 6.3m $629.3m | Added +1.7m |
| FMR LLC 0.03% of their portfolio | 5.3m $532.5m | Added +3.8m |
| WELLINGTON MANAGEMENT GROUP LLP 0.09% of their portfolio | 5.1m $510.0m | Reduced -335.5k |
| GEODE CAPITAL MANAGEMENT, LLC 0.03% of their portfolio | 4.2m $416.3m | Added +1.7m |
| 1832 Asset Management L.P. 0.71% of their portfolio | 4.0m $399.6m | Added +8.9k |
| FIRST TRUST ADVISORS LP 0.35% of their portfolio | 4.0m $395.6m | Reduced -391.4k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.12% of their portfolio | 3.7m $372.9m | Added +1.2k |
| Bank of New York Mellon Corp 0.06% of their portfolio | 3.2m $317.4m | Added +742.1k |
| Thrivent Financial for Lutherans 0.59% of their portfolio | 3.1m $304.0m | Added +215.4k |
| DISCIPLINED GROWTH INVESTORS INC /MN 5.18% of their portfolio | 2.7m $272.5m | New |
| Invesco Ltd. 0.05% of their portfolio | 2.5m $246.1m | Added +425.4k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.06% of their portfolio | 2.4m $239.0m | Added +1.9m |
| VOYA INVESTMENT MANAGEMENT LLC 0.22% of their portfolio | 2.2m $216.4m | Added +362.4k |
| Glendon Capital Management LP 12.87% of their portfolio | 2.1m $213.3m | Added +19.7k |
| AGF MANAGEMENT LTD 0.98% of their portfolio | 2.0m $197.1m | Added +1.9m |
| NORTHERN TRUST CORP 0.03% of their portfolio | 2.0m $195.1m | Added +1.1m |
| BANK OF AMERICA CORP /DE/ 0.02% of their portfolio | 1.9m $191.4m | Added +911.2k |
| CITADEL ADVISORS LLC 0.17% of their portfolio | 1.9m $185.3m | Added +261.1k |
| LORD, ABBETT & CO. LLC 0.54% of their portfolio | 1.7m $170.2m | Reduced -6.0k |
| MORGAN STANLEY 0.01% of their portfolio | 1.6m $163.2m | Added +925.4k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.03% of their portfolio | 1.5m $147.0m | Added +595.8k |
| PRUDENTIAL FINANCIAL INC 0.19% of their portfolio | 1.4m $140.3m | Added +380.9k |
| AMERIPRISE FINANCIAL INC 0.03% of their portfolio | 1.4m $135.3m | Added +70.0k |
| EnCap Energy Capital Fund IX, L.P. 100.00% of their portfolio | 1.2m $118.8m | New |
| Slate Path Capital LP 2.04% of their portfolio | 1.1m $112.8m | Added +903.0k |
| Castle Hook Partners LP 2.34% of their portfolio | 1.1m $110.0m | New |
| VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P. 1.00% of their portfolio | 1.1m $107.3m | New |
| MILLENNIUM MANAGEMENT LLC 0.09% of their portfolio | 1.0m $104.1m | Added +1.0m |
| Stephens Investment Management Group LLC 1.37% of their portfolio | 1.0m $102.3m | New |
| Encompass Capital Advisors LLC 4.32% of their portfolio | 1.0m $100.9m | Added +714.1k |
| Nuveen Asset Management, LLC 0.03% of their portfolio | 1.0m $100.0m | Added +732.6k |
| JPMORGAN CHASE & CO 0.01% of their portfolio | 984.7k $98.0m | Reduced -1.2m |
| Kopernik Global Investors, LLC 9.79% of their portfolio | 919.9k $91.6m | New |
| MACKENZIE FINANCIAL CORP 0.04% of their portfolio | 828.9k $80.3m | Added +716.1k |
| Sagefield Capital LP 8.94% of their portfolio | 827.6k $82.4m | Added +539.7k |
| Ceredex Value Advisors LLC 1.65% of their portfolio | 819.3k $81.6m | Reduced -354.7k |
| GOLDMAN SACHS GROUP INC 0.02% of their portfolio | 799.5k $79.6m | Added +480.2k |
| Amundi 0.03% of their portfolio | 777.8k $80.1m | Added +313.1k |
| Cannell & Spears LLC 1.56% of their portfolio | 762.3k $75.9m | Added +73.1k |
| UBS Group AG 0.02% of their portfolio | 760.8k $75.7m | Added +557.4k |
| PRINCIPAL FINANCIAL GROUP INC 0.04% of their portfolio | 672.1k $66.9m | Added +192.7k |
| Legal & General Group Plc 0.02% of their portfolio | 665.3k $66.2m | Added +138.6k |
| JANUS HENDERSON GROUP PLC 0.03% of their portfolio | 662.4k $65.9m | Added +48.3k |
| EnCap Energy Capital Fund VIII, L.P. 37.68% of their portfolio | 643.6k $64.1m | New |
| RHUMBLINE ADVISERS 0.05% of their portfolio | 614.7k $61.2m | New |
| Swiss National Bank 0.04% of their portfolio | 577.0k $57.4m | Added +196.6k |
| PRIMECAP MANAGEMENT CO/CA/ 0.04% of their portfolio | 574.5k $57.2m | New |
| NEUBERGER BERMAN GROUP LLC 0.04% of their portfolio | 538.6k $53.6m | Added +264.8k |
| MACQUARIE GROUP LTD 0.06% of their portfolio | 529.7k $52.7m | Added +62.4k |
| Waratah Capital Advisors Ltd. 2.88% of their portfolio | 517.2k $51.5m | Reduced -146.1k |
| RAYMOND JAMES FINANCIAL INC 0.02% of their portfolio | 503.1k $50.1m | First filing |
| Merewether Investment Management, LP 1.99% of their portfolio | 499.9k $49.8m | New |
| Sumitomo Mitsui Trust Group, Inc. 0.03% of their portfolio | 476.1k $47.4m | Added +271.2k |
| Sourcerock Group LLC 3.31% of their portfolio | 467.6k $46.5m | Added +132.5k |
| NATIXIS ADVISORS, LLC 0.09% of their portfolio | 465.0k $46.3m | New |
| Retirement Systems of Alabama 0.17% of their portfolio | 457.4k $45.5m | Added +151.5k |
| Clearbridge Investments, LLC 0.04% of their portfolio | 439.3k $43.7m | Reduced -244 |
| DEPRINCE RACE & ZOLLO INC 0.86% of their portfolio | 436.2k $43.4m | Reduced -115.0k |
| EnCap Partners GP, LLC 11.26% of their portfolio | 435.9k $43.4m | New |
| Canoe Financial LP 0.69% of their portfolio | 427.6k $42.5m | Added +300.5k |
| BARCLAYS PLC 0.02% of their portfolio | 427.4k $42.5m | Added +186.7k |
| Ninepoint Partners LP 6.33% of their portfolio | 400.0k $39.8m | New |
| CLOUGH CAPITAL PARTNERS L P 4.50% of their portfolio | 394.7k $39.3m | Added +246.2k |
| California Public Employees Retirement System 0.03% of their portfolio | 392.2k $39.0m | Added +144.1k |
| Mercuria Capital Strategies, LLC 14.49% of their portfolio | 388.0k $38.6m | First filing |
| SCHWARTZ INVESTMENT COUNSEL INC 1.37% of their portfolio | 382.7k $38.1m | Unchanged |
| ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio | 380.9k $37.9m | Added +222.8k |
| TD Asset Management Inc 0.03% of their portfolio | 367.8k $36.6m | Added +94.4k |
| Vest Financial, LLC 0.65% of their portfolio | 367.3k $36.6m | Added +5.6k |
| DEUTSCHE BANK AG\ 0.01% of their portfolio | 363.0k $36.1m | Added +172.4k |
| Two Creeks Capital Management, LP 2.11% of their portfolio | 347.1k $34.6m | New |
| Capital World Investors 0.00% of their portfolio | 326.4k $32.5m | Reduced -367.4k |
| VAN ECK ASSOCIATES CORP 0.04% of their portfolio | 319.5k $31.8m | Added +117.6k |
| National Pension Service 0.03% of their portfolio | 317.2k $31.6m | New |
| MARSHALL WACE, LLP 0.04% of their portfolio | 300.3k $29.9m | Added +202.3k |
| APPALOOSA LP 0.45% of their portfolio | 295.0k $29.4m | Added +130.0k |
| LEVIN CAPITAL STRATEGIES, L.P. 2.80% of their portfolio | 294.9k $29.4m | Reduced -30.9k |
| WELLS FARGO & COMPANY/MN 0.01% of their portfolio | 288.2k $28.7m | Added +184.6k |
| Holocene Advisors, LP 0.09% of their portfolio | 280.3k $27.9m | New |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.03% of their portfolio | 245.0k $24.4m | Added +78.0k |
| TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY 0.21% of their portfolio | 241.8k $24.1m | Added +158.2k |
| Corebridge Financial, Inc. 0.13% of their portfolio | 238.0k $23.7m | Added +105.9k |
| Patient Capital Management, LLC 1.09% of their portfolio | 236.9k $23.6m | Added +227 |
| JENNISON ASSOCIATES LLC 0.01% of their portfolio | 234.5k $23.3m | Added +36.7k |
| TOCQUEVILLE ASSET MANAGEMENT L.P. 0.36% of their portfolio | 230.8k $23.0m | New |
| STATE OF WISCONSIN INVESTMENT BOARD 0.06% of their portfolio | 221.9k $22.1m | Added +75.3k |
| Russell Investments Group, Ltd. 0.03% of their portfolio | 218.7k $21.8m | Added +145.2k |
| HITE Hedge Asset Management LLC 1.51% of their portfolio | 207.3k $20.6m | New |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.02% of their portfolio | 206.9k $20.6m | Added +85.9k |
| WEDGE CAPITAL MANAGEMENT L L P/NC 0.36% of their portfolio | 200.1k $19.9m | Reduced -118.2k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.04% of their portfolio | 198.7k $19.8m | Added +84.2k |