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 ($249.8m this quarter). Holder counts are more reliable. Shares outstanding: 238.1m as of 2025-07-24, 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 ≈ $116.86. Options: 32 managers hold calls ($561.1m notional), 32 hold puts ($947.3m).
Trends to Q2 2025
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 |
| Q1 2025 | 738 |
| Q2 2025 | 813 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2023 | 258 | 199 |
| Q4 2023 | 172 | 280 |
| Q1 2024 | 239 | 251 |
| Q2 2024 | 227 | 251 |
| Q3 2024 | 244 | 224 |
| Q4 2024 | 472 | 141 |
| Q1 2025 | 419 | 263 |
| Q2 2025 | 463 | 302 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $305.6m | $199.7m | 0.65 |
| Q4 2024 | $761.3m | $501.8m | 0.66 |
| Q1 2025 | $722.6m | $1.1bn | 1.45 |
| Q2 2025 | $561.1m | $947.3m | 1.69 |
Biggest buyers
| TWO SIGMA ADVISERS, LP | Added | +1.1m |
| GOLDMAN SACHS GROUP INC | Added | +1.0m |
| BlackRock, Inc. | Added | +959.2k |
| 59 North Capital Management, LP | New | +880.4k |
| D. E. Shaw & Co., Inc. | Added | +871.4k |
| MORGAN STANLEY | Added | +869.8k |
| TWO SIGMA INVESTMENTS, LP | Added | +858.7k |
| JANE STREET GROUP, LLC | Added | +851.5k |
| UBS Group AG | Added | +759.7k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | Added | +740.5k |
Biggest sellers
| Blackstone Inc. | Reduced | -5.7m |
| Capital Research Global Investors | Reduced | -3.3m |
| VOYA INVESTMENT MANAGEMENT LLC | Reduced | -2.4m |
| DIMENSIONAL FUND ADVISORS LP | Reduced | -1.1m |
| CITADEL ADVISORS LLC | Reduced | -969.8k |
| 1832 Asset Management L.P. | Reduced | -902.6k |
| BANK OF AMERICA CORP /DE/ | Reduced | -744.2k |
| FIRST TRUST ADVISORS LP | Reduced | -711.1k |
| T. Rowe Price Investment Management, Inc. | Reduced | -643.8k |
| MILLENNIUM MANAGEMENT LLC | Reduced | -635.1k |
Biggest calls
| BANK OF AMERICA CORP /DE/ | Reduced | $121.3m1.0m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $117.1m1.0m shares |
| CITADEL ADVISORS LLC | Reduced | $56.7m484.9k shares |
| PINNBROOK CAPITAL MANAGEMENT LP | Added | $41.5m354.9k shares |
| JANE STREET GROUP, LLC | Reduced | $38.9m332.7k shares |
| D. E. Shaw & Co., Inc. | Reduced | $35.0m299.5k shares |
| GOLDMAN SACHS GROUP INC | Added | $30.4m260.0k shares |
| Walleye Trading LLC | Added | $16.0m137.0k shares |
| Twin Tree Management, LP | Added | $15.8m135.1k shares |
| WOLVERINE TRADING, LLC | Added | $13.1m110.4k shares |
Biggest puts
| BANK OF AMERICA CORP /DE/ | Added | $358.5m3.1m shares |
| CITADEL ADVISORS LLC | Added | $114.7m980.6k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $83.6m714.9k shares |
| NOMURA HOLDINGS INC | Reduced | $53.3m456.0k shares |
| BNP PARIBAS FINANCIAL MARKETS | Added | $49.2m4.2k shares |
| Yaupon Capital Management LP | Unchanged | $46.8m400.0k shares |
| JANE STREET GROUP, LLC | Added | $40.6m347.0k shares |
| UBS Group AG | New | $26.8m229.0k shares |
| Caption Management, LLC | New | $23.4m200.0k shares |
| GOLDMAN SACHS GROUP INC | New | $20.8m177.8k 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 2025
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 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 | — |
| Q1 2025 | 1 | $248.8k | 0 | — | — |
| Q2 2025 | 0 | — | 0 | — | — |
None reported in Q2 2025.
Holders, Q2 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.05% of their portfolio | 27.3m $3.2bn | Added +559.9k |
| BlackRock, Inc. 0.04% of their portfolio | 19.6m $2.3bn | Added +959.2k |
| STATE STREET CORP 0.05% of their portfolio | 12.2m $1.4bn | Reduced -120.3k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.16% of their portfolio | 12.2m $1.4bn | Added +378.6k |
| Capital Research Global Investors 0.14% of their portfolio | 6.1m $713.7m | Reduced -3.3m |
| GEODE CAPITAL MANAGEMENT, LLC 0.05% of their portfolio | 5.8m $677.0m | Added +170.2k |
| T. Rowe Price Investment Management, Inc. 0.42% of their portfolio | 5.7m $662.0m | Reduced -643.8k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.20% of their portfolio | 5.4m $631.1m | Added +740.5k |
| WELLINGTON MANAGEMENT GROUP LLP 0.11% of their portfolio | 5.2m $613.4m | Reduced -361.0k |
| OAKTREE CAPITAL MANAGEMENT LP 11.73% of their portfolio | 5.1m $592.0m | Reduced -500.0k |
| AGF MANAGEMENT LTD 2.05% of their portfolio | 3.9m $451.2m | Added +224.3k |
| Invesco Ltd. 0.07% of their portfolio | 3.7m $437.4m | Reduced -153.2k |
| MORGAN STANLEY 0.02% of their portfolio | 3.0m $346.1m | Added +869.8k |
| FMR LLC 0.02% of their portfolio | 2.9m $340.6m | Added +384.6k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.07% of their portfolio | 2.8m $332.2m | Reduced -228.7k |
| 1832 Asset Management L.P. 0.57% of their portfolio | 2.8m $329.6m | Reduced -902.6k |
| DISCIPLINED GROWTH INVESTORS INC /MN 5.87% of their portfolio | 2.6m $306.7m | Reduced -56.9k |
| Bank of New York Mellon Corp 0.06% of their portfolio | 2.6m $306.6m | Reduced -313.1k |
| GOLDMAN SACHS GROUP INC 0.05% of their portfolio | 2.5m $291.1m | Added +1.0m |
| DIMENSIONAL FUND ADVISORS LP 0.06% of their portfolio | 2.3m $265.3m | Reduced -1.1m |
| Glendon Capital Management LP 13.68% of their portfolio | 2.1m $249.2m | Unchanged |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.04% of their portfolio | 2.1m $245.5m | Added +84.2k |
| TWO SIGMA ADVISERS, LP 0.46% of their portfolio | 1.9m $225.7m | Added +1.1m |
| NORTHERN TRUST CORP 0.03% of their portfolio | 1.9m $222.6m | Reduced -9.9k |
| UBS Group AG 0.04% of their portfolio | 1.8m $212.8m | Added +759.7k |
| VOYA INVESTMENT MANAGEMENT LLC 0.21% of their portfolio | 1.8m $209.4m | Reduced -2.4m |
| TWO SIGMA INVESTMENTS, LP 0.36% of their portfolio | 1.7m $201.9m | Added +858.7k |
| Castle Hook Partners LP 2.97% of their portfolio | 1.7m $201.8m | Reduced -3.0k |
| CITADEL ADVISORS LLC 0.16% of their portfolio | 1.6m $185.6m | Reduced -969.8k |
| Thrivent Financial for Lutherans 0.40% of their portfolio | 1.5m $180.8m | Reduced -557.0k |
| LORD, ABBETT & CO. LLC 0.57% of their portfolio | 1.5m $177.0m | Added +135.8k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 1.4m $164.5m | Reduced -744.2k |
| JPMORGAN CHASE & CO 0.01% of their portfolio | 1.3m $157.8m | Added +266.4k |
| AMERIPRISE FINANCIAL INC 0.04% of their portfolio | 1.3m $150.2m | Added +87.3k |
| MILLENNIUM MANAGEMENT LLC 0.13% of their portfolio | 1.2m $142.6m | Reduced -635.1k |
| DEUTSCHE BANK AG\ 0.05% of their portfolio | 1.1m $130.8m | Added +359.1k |
| Slate Path Capital LP 2.25% of their portfolio | 1.1m $130.7m | Reduced -44.0k |
| Legal & General Group Plc 0.03% of their portfolio | 1.0m $119.2m | Added +79.3k |
| PRUDENTIAL FINANCIAL INC 0.15% of their portfolio | 1.0m $118.3m | Reduced -18.7k |
| D. E. Shaw & Co., Inc. 0.12% of their portfolio | 1.0m $117.8m | Added +871.4k |
| Squarepoint Ops LLC 0.26% of their portfolio | 1.0m $117.5m | Reduced -90.2k |
| WORLDQUANT MILLENNIUM ADVISORS LLC 0.57% of their portfolio | 980.5k $114.7m | Reduced -64.2k |
| JANE STREET GROUP, LLC 0.18% of their portfolio | 960.3k $112.3m | Added +851.5k |
| 59 North Capital Management, LP 3.68% of their portfolio | 880.4k $102.9m | New |
| ROYAL BANK OF CANADA 0.01% of their portfolio | 868.3k $101.5m | Added +493.8k |
| Stephens Investment Management Group LLC 1.31% of their portfolio | 850.7k $99.5m | Reduced -119.9k |
| Nuveen, LLC 0.03% of their portfolio | 807.1k $94.4m | Added +57.5k |
| VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P. 0.88% of their portfolio | 803.0k $93.9m | Reduced -338.2k |
| Ninepoint Partners LP 18.10% of their portfolio | 800.0k $93.6m | Unchanged |
| Encompass Capital Advisors LLC 3.77% of their portfolio | 799.6k $93.5m | Reduced -68.0k |
| Amundi 0.03% of their portfolio | 782.0k $86.3m | Added +28.4k |
| NEUBERGER BERMAN GROUP LLC 0.07% of their portfolio | 781.6k $91.4m | Added +115.7k |
| Jain Global LLC 1.42% of their portfolio | 781.5k $91.4m | Added +475.9k |
| Balyasny Asset Management L.P. 0.19% of their portfolio | 716.6k $83.8m | Reduced -154.8k |
| Qube Research & Technologies Ltd 0.11% of their portfolio | 708.3k $82.8m | Added +554.3k |
| Merewether Investment Management, LP 2.16% of their portfolio | 641.9k $75.1m | Reduced -22.8k |
| BARCLAYS PLC 0.03% of their portfolio | 639.2k $74.7m | Added +91.9k |
| Swiss National Bank 0.04% of their portfolio | 634.0k $74.1m | Added +47.3k |
| PointState Capital LP 1.55% of their portfolio | 619.2k $72.4m | New |
| Sumitomo Mitsui Trust Group, Inc. 0.04% of their portfolio | 577.1k $67.5m | Added +31.7k |
| Cannell & Spears LLC 1.35% of their portfolio | 570.4k $66.7m | Reduced -43.4k |
| PRINCIPAL FINANCIAL GROUP INC 0.03% of their portfolio | 559.0k $65.4m | Added +138.5k |
| Zurich Insurance Group Ltd/FI 0.50% of their portfolio | 556.5k $65.1m | Reduced -422.5k |
| JENNISON ASSOCIATES LLC 0.04% of their portfolio | 554.2k $64.8m | Added +35.9k |
| AMERICAN CENTURY COMPANIES INC 0.03% of their portfolio | 543.4k $63.5m | Added +125.2k |
| Assenagon Asset Management S.A. 0.10% of their portfolio | 538.0k $62.9m | New |
| Kopernik Global Investors, LLC 6.72% of their portfolio | 522.7k $61.1m | Reduced -341.8k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.22% of their portfolio | 510.8k $59.7m | Added +494.0k |
| BNP PARIBAS FINANCIAL MARKETS 0.05% of their portfolio | 509.4k $59.6m | Added +69.0k |
| Sagefield Capital LP 8.27% of their portfolio | 505.6k $59.1m | Reduced -232.1k |
| JANUS HENDERSON GROUP PLC 0.03% of their portfolio | 475.7k $55.6m | Reduced -106.9k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.04% of their portfolio | 473.3k $55.4m | Added +51.1k |
| MACQUARIE GROUP LTD 0.07% of their portfolio | 465.8k $54.5m | Reduced -92.7k |
| RENAISSANCE TECHNOLOGIES LLC 0.07% of their portfolio | 462.9k $54.1m | Reduced -44.5k |
| PRIMECAP MANAGEMENT CO/CA/ 0.04% of their portfolio | 459.8k $53.8m | Reduced -91.0k |
| Woodline Partners LP 0.28% of their portfolio | 459.1k $53.7m | Added +49.7k |
| MACKENZIE FINANCIAL CORP 0.07% of their portfolio | 453.3k $53.0m | Added +70.7k |
| Clearbridge Investments, LLC 0.04% of their portfolio | 443.2k $51.8m | Added +4.1k |
| TD Asset Management Inc 0.04% of their portfolio | 402.5k $47.1m | Reduced -5.4k |
| FIRST TRUST ADVISORS LP 0.04% of their portfolio | 402.4k $47.1m | Reduced -711.1k |
| RHUMBLINE ADVISERS 0.04% of their portfolio | 397.9k $46.5m | Added +6.3k |
| WELLS FARGO & COMPANY/MN 0.01% of their portfolio | 393.4k $46.0m | Added +35.4k |
| NATIXIS ADVISORS, LLC 0.07% of their portfolio | 392.2k $45.9m | Reduced -91.2k |
| California Public Employees Retirement System 0.03% of their portfolio | 388.1k $45.4m | Added +12.3k |
| CITIGROUP INC 0.03% of their portfolio | 384.9k $45.0m | Reduced -2.9k |
| Two Creeks Capital Management, LP 2.89% of their portfolio | 372.3k $43.5m | Reduced -31.7k |
| SCHWARTZ INVESTMENT COUNSEL INC 1.43% of their portfolio | 370.4k $43.3m | Unchanged |
| RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio | 364.2k $42.6m | Reduced -86.0k |
| HSBC HOLDINGS PLC 0.03% of their portfolio | 363.5k $42.6m | Added +36.5k |
| GREAT LAKES ADVISORS, LLC 0.35% of their portfolio | 362.2k $41.6m | Added +109.7k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.06% of their portfolio | 362.0k $42.3m | Added +299.9k |
| VAN ECK ASSOCIATES CORP 0.05% of their portfolio | 353.4k $41.3m | Added +88.2k |
| DEPRINCE RACE & ZOLLO INC 0.85% of their portfolio | 350.9k $41.0m | Reduced -28.2k |
| VIRGINIA RETIREMENT SYSTEMS ET Al 0.26% of their portfolio | 320.2k $37.4m | Unchanged |
| HRT FINANCIAL LP 0.20% of their portfolio | 317.7k $37.2m | Added +262.4k |
| Canoe Financial LP 0.52% of their portfolio | 311.1k $36.4m | Reduced -419.9k |
| National Pension Service 0.03% of their portfolio | 296.6k $34.7m | Reduced -301 |
| Russell Investments Group, Ltd. 0.04% of their portfolio | 291.4k $34.1m | Reduced -66.3k |
| VICTORY CAPITAL MANAGEMENT INC 0.02% of their portfolio | 289.9k $33.9m | Added +181.6k |
| Weiss Asset Management LP 0.53% of their portfolio | 287.8k $33.6m | Not comparable |