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 ($106.8m this quarter). Holder counts are more reliable. Shares outstanding: 238.2m as of 2025-10-23, 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 ≈ $106.27. Options: 30 managers hold calls ($385.4m notional), 32 hold puts ($1.1bn).
Trends to Q3 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 |
| Q3 2025 | 765 |
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 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 |
| Q3 2025 | 414 | 375 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q4 2024 | $761.3m | $501.8m | 0.66 |
| Q1 2025 | $722.6m | $1.1bn | 1.45 |
| Q2 2025 | $561.1m | $947.3m | 1.69 |
| Q3 2025 | $385.4m | $1.1bn | 2.74 |
Biggest buyers
| Capital Research Global Investors | Added | +9.9m |
| Phoenix Financial Ltd. | New | +3.2m |
| Altshuler Shaham Ltd | Added | +1.6m |
| JPMORGAN CHASE & CO | Added | +1.3m |
| CIBC Private Wealth Group LLC | Added | +1.1m |
| Alyeska Investment Group, L.P. | New | +1.1m |
| 1832 Asset Management L.P. | Added | +1.0m |
| STATE STREET CORP | Added | +1.0m |
| AQR CAPITAL MANAGEMENT LLC | Added | +900.4k |
| Merewether Investment Management, LP | Added | +875.6k |
Biggest sellers
| AGF MANAGEMENT LTD | Reduced | -3.8m |
| Castle Hook Partners LP | Sold out | -1.7m |
| WELLINGTON MANAGEMENT GROUP LLP | Reduced | -1.6m |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | Reduced | -1.3m |
| PRICE T ROWE ASSOCIATES INC /MD/ | Reduced | -1.3m |
| T. Rowe Price Investment Management, Inc. | Reduced | -1.2m |
| WORLDQUANT MILLENNIUM ADVISORS LLC | Sold out | -980.5k |
| TWO SIGMA ADVISERS, LP | Reduced | -963.8k |
| JANE STREET GROUP, LLC | Reduced | -939.4k |
| D. E. Shaw & Co., Inc. | Reduced | -880.6k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $141.7m1.3m shares |
| JANE STREET GROUP, LLC | Added | $39.1m368.1k shares |
| CITADEL ADVISORS LLC | Reduced | $36.5m343.8k shares |
| D. E. Shaw & Co., Inc. | Reduced | $30.7m289.4k shares |
| BANK OF AMERICA CORP /DE/ | Reduced | $22.5m212.2k shares |
| Walleye Trading LLC | Reduced | $13.8m130.1k shares |
| TUDOR INVESTMENT CORP ET AL | Added | $13.4m126.5k shares |
| Waratah Capital Advisors Ltd. | New | $10.6m100.0k shares |
| CAPITAL FUND MANAGEMENT S.A. | Added | $9.9m93.3k shares |
| Lighthouse Investment Partners, LLC | New | $9.7m91.4k shares |
Biggest puts
| BANK OF AMERICA CORP /DE/ | Added | $331.5m3.1m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $180.7m1.7m shares |
| BARCLAYS PLC | New | $124.7m1.2m shares |
| CITADEL ADVISORS LLC | Added | $113.3m1.1m shares |
| NOMURA HOLDINGS INC | Added | $57.5m541.0k shares |
| JPMORGAN CHASE & CO | New | $42.5m400.0k shares |
| JANE STREET GROUP, LLC | Added | $37.2m350.3k shares |
| IMC-Chicago, LLC | Added | $24.7m232.6k shares |
| BNP PARIBAS FINANCIAL MARKETS | Reduced | $19.7m1.9k shares |
| D. E. Shaw & Co., Inc. | Added | $17.5m164.4k 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 Q3 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 |
|---|---|---|---|---|---|
| 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 | — | — |
| Q3 2025 | 2 | $424.0k | 0 | — | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2025-08-18 | Viets Joshua J. EVP & COO | Bought | $184.3k2.0k shares |
| 2025-08-15 | DELL'OSSO DOMENIC J JR President and CEO, director | Bought | $239.7k2.5k 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, Q3 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.04% of their portfolio | 27.9m $3.0bn | Added +646.3k |
| BlackRock, Inc. 0.04% of their portfolio | 20.4m $2.2bn | Added +810.9k |
| Capital Research Global Investors 0.32% of their portfolio | 16.0m $1.7bn | Added +9.9m |
| STATE STREET CORP 0.05% of their portfolio | 13.2m $1.4bn | Added +1.0m |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.12% of their portfolio | 10.9m $1.2bn | Reduced -1.3m |
| GEODE CAPITAL MANAGEMENT, LLC 0.05% of their portfolio | 6.6m $711.9m | Added +817.5k |
| OAKTREE CAPITAL MANAGEMENT LP 8.97% of their portfolio | 5.1m $537.8m | Reduced -1 |
| T. Rowe Price Investment Management, Inc. 0.29% of their portfolio | 4.4m $472.7m | Reduced -1.2m |
| Invesco Ltd. 0.07% of their portfolio | 4.4m $463.1m | Added +619.0k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.13% of their portfolio | 4.1m $431.4m | Reduced -1.3m |
| 1832 Asset Management L.P. 0.69% of their portfolio | 3.9m $409.7m | Added +1.0m |
| WELLINGTON MANAGEMENT GROUP LLP 0.07% of their portfolio | 3.6m $386.1m | Reduced -1.6m |
| FMR LLC 0.02% of their portfolio | 3.2m $340.1m | Added +288.1k |
| Phoenix Financial Ltd. 2.16% of their portfolio | 3.2m $339.6m | New |
| MORGAN STANLEY 0.02% of their portfolio | 3.0m $323.5m | Added +85.0k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.06% of their portfolio | 2.8m $295.4m | Reduced -60.6k |
| JPMORGAN CHASE & CO 0.01% of their portfolio | 2.6m $281.0m | Added +1.3m |
| Bank of New York Mellon Corp 0.05% of their portfolio | 2.6m $279.1m | Added +5.6k |
| DISCIPLINED GROWTH INVESTORS INC /MN 4.80% of their portfolio | 2.5m $264.9m | Reduced -129.1k |
| DIMENSIONAL FUND ADVISORS LP 0.05% of their portfolio | 2.3m $242.2m | Added +10.6k |
| Glendon Capital Management LP 12.35% of their portfolio | 2.1m $226.4m | Unchanged |
| GOLDMAN SACHS GROUP INC 0.03% of their portfolio | 2.1m $221.0m | Reduced -409.2k |
| NORTHERN TRUST CORP 0.03% of their portfolio | 2.0m $208.6m | Added +60.3k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 1.9m $199.3m | Added +469.6k |
| VOYA INVESTMENT MANAGEMENT LLC 0.18% of their portfolio | 1.7m $182.4m | Reduced -73.9k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.03% of their portfolio | 1.6m $174.8m | Reduced -454.3k |
| Slate Path Capital LP 2.66% of their portfolio | 1.6m $171.7m | Added +497.9k |
| Altshuler Shaham Ltd 2.80% of their portfolio | 1.6m $169.1m | Added +1.6m |
| LORD, ABBETT & CO. LLC 0.50% of their portfolio | 1.6m $168.7m | Added +73.6k |
| TWO SIGMA INVESTMENTS, LP 0.25% of their portfolio | 1.5m $162.4m | Reduced -198.1k |
| Thrivent Financial for Lutherans 0.32% of their portfolio | 1.5m $162.3m | Reduced -18.7k |
| Merewether Investment Management, LP 3.86% of their portfolio | 1.5m $161.2m | Added +875.6k |
| AMERIPRISE FINANCIAL INC 0.04% of their portfolio | 1.5m $154.9m | Added +176.6k |
| DEUTSCHE BANK AG\ 0.05% of their portfolio | 1.3m $143.2m | Added +229.3k |
| 59 North Capital Management, LP 4.44% of their portfolio | 1.3m $142.4m | Added +460.3k |
| CIBC Private Wealth Group LLC 0.23% of their portfolio | 1.3m $133.5m | Added +1.1m |
| UBS Group AG 0.02% of their portfolio | 1.2m $127.0m | Reduced -624.3k |
| VICTORY CAPITAL MANAGEMENT INC 0.07% of their portfolio | 1.1m $119.6m | Added +835.5k |
| Legal & General Group Plc 0.03% of their portfolio | 1.1m $116.8m | Added +80.1k |
| Alyeska Investment Group, L.P. 0.35% of their portfolio | 1.1m $115.5m | New |
| PRUDENTIAL FINANCIAL INC 0.13% of their portfolio | 1.0m $108.1m | Added +5.7k |
| CITADEL ADVISORS LLC 0.09% of their portfolio | 1.0m $107.0m | Reduced -580.1k |
| MACQUARIE GROUP LTD 0.12% of their portfolio | 996.5k $105.9m | Added +530.7k |
| AQR CAPITAL MANAGEMENT LLC 0.07% of their portfolio | 970.7k $103.1m | Added +900.4k |
| TWO SIGMA ADVISERS, LP 0.21% of their portfolio | 966.1k $102.6m | Reduced -963.8k |
| BARCLAYS PLC 0.04% of their portfolio | 916.2k $97.3m | Added +277.0k |
| Ninepoint Partners LP 13.20% of their portfolio | 900.0k $95.6m | Added +100.0k |
| Assenagon Asset Management S.A. 0.14% of their portfolio | 872.8k $92.7m | Added +334.9k |
| Holocene Advisors, LP 0.21% of their portfolio | 867.3k $92.1m | New |
| Amundi 0.03% of their portfolio | 862.0k $92.9m | Added +80.0k |
| Pacer Advisors, Inc. 0.22% of their portfolio | 821.6k $87.3m | Added +804.5k |
| Man Group plc 0.16% of their portfolio | 803.0k $85.3m | Added +727.9k |
| NEUBERGER BERMAN GROUP LLC 0.06% of their portfolio | 784.2k $83.3m | Added +2.6k |
| VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P. 0.74% of their portfolio | 769.2k $81.7m | Reduced -33.8k |
| Stephens Investment Management Group LLC 1.04% of their portfolio | 757.6k $80.5m | Reduced -93.1k |
| Kopernik Global Investors, LLC 6.40% of their portfolio | 738.0k $78.4m | Added +215.3k |
| Sagefield Capital LP 8.68% of their portfolio | 730.7k $77.6m | Added +225.0k |
| ROYAL BANK OF CANADA 0.01% of their portfolio | 703.4k $74.7m | Reduced -164.9k |
| Qube Research & Technologies Ltd 0.10% of their portfolio | 693.1k $73.6m | Reduced -15.2k |
| MILLENNIUM MANAGEMENT LLC 0.06% of their portfolio | 686.9k $73.0m | Reduced -532.8k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.11% of their portfolio | 676.8k $71.9m | Added +478.5k |
| Ceredex Value Advisors LLC 1.64% of their portfolio | 664.7k $70.6m | Added +444.6k |
| Swiss National Bank 0.04% of their portfolio | 651.7k $69.2m | Added +17.7k |
| AMERICAN CENTURY COMPANIES INC 0.03% of their portfolio | 640.0k $68.0m | Added +96.6k |
| Sumitomo Mitsui Trust Group, Inc. 0.04% of their portfolio | 616.3k $65.5m | Added +39.2k |
| Nuveen, LLC 0.02% of their portfolio | 600.2k $63.8m | Reduced -206.9k |
| PRINCIPAL FINANCIAL GROUP INC 0.03% of their portfolio | 540.7k $57.4m | Reduced -18.3k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.04% of their portfolio | 529.5k $56.3m | Added +56.2k |
| Squarepoint Ops LLC 0.12% of their portfolio | 515.1k $54.7m | Reduced -489.7k |
| JENNISON ASSOCIATES LLC 0.03% of their portfolio | 490.3k $52.1m | Reduced -63.9k |
| WELLS FARGO & COMPANY/MN 0.01% of their portfolio | 487.0k $51.7m | Added +93.6k |
| JANUS HENDERSON GROUP PLC 0.02% of their portfolio | 472.7k $50.2m | Reduced -3.1k |
| MACKENZIE FINANCIAL CORP 0.06% of their portfolio | 470.7k $50.0m | Added +17.4k |
| Clearbridge Investments, LLC 0.04% of their portfolio | 443.2k $47.1m | Unchanged |
| Retirement Systems of Alabama 0.15% of their portfolio | 436.4k $46.4m | Added +182.4k |
| BNP PARIBAS FINANCIAL MARKETS 0.04% of their portfolio | 435.8k $46.3m | Reduced -73.6k |
| RHUMBLINE ADVISERS 0.04% of their portfolio | 414.1k $44.0m | Added +16.2k |
| California Public Employees Retirement System 0.03% of their portfolio | 410.6k $43.6m | Added +22.5k |
| Gotham Asset Management, LLC 0.19% of their portfolio | 404.5k $43.0m | Added +208.9k |
| Russell Investments Group, Ltd. 0.05% of their portfolio | 388.3k $41.3m | Added +96.9k |
| DEPRINCE RACE & ZOLLO INC 0.80% of their portfolio | 374.8k $39.8m | Added +23.8k |
| Two Creeks Capital Management, LP 2.86% of their portfolio | 374.2k $39.8m | Added +2.0k |
| RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio | 372.6k $39.6m | Added +8.4k |
| HSBC HOLDINGS PLC 0.02% of their portfolio | 371.2k $39.5m | Added +7.7k |
| SCHWARTZ INVESTMENT COUNSEL INC 1.32% of their portfolio | 370.4k $39.4m | Unchanged |
| VAN ECK ASSOCIATES CORP 0.04% of their portfolio | 362.7k $38.5m | Added +9.3k |
| NATIXIS ADVISORS, LLC 0.06% of their portfolio | 360.1k $38.3m | Reduced -32.2k |
| TD Asset Management Inc 0.03% of their portfolio | 356.7k $37.9m | Reduced -45.8k |
| MARSHALL WACE, LLP 0.04% of their portfolio | 342.4k $36.4m | Added +95.4k |
| CITIGROUP INC 0.03% of their portfolio | 341.3k $36.3m | Reduced -43.6k |
| PRIMECAP MANAGEMENT CO/CA/ 0.03% of their portfolio | 334.9k $35.6m | Reduced -124.9k |
| ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio | 332.6k $35.3m | Added +54.0k |
| FIRST TRUST ADVISORS LP 0.03% of their portfolio | 332.3k $35.3m | Reduced -70.2k |
| Korea Investment CORP 0.07% of their portfolio | 326.3k $34.7m | Added +48.7k |
| LSP Investment Advisors, LLC 20.39% of their portfolio | 319.4k $33.9m | Added +92.6k |
| Zurich Insurance Group Ltd/FI 0.24% of their portfolio | 318.9k $33.9m | Reduced -237.6k |
| GREAT LAKES ADVISORS, LLC 0.28% of their portfolio | 318.8k $33.9m | Reduced -43.4k |
| National Pension Service 0.02% of their portfolio | 296.6k $31.5m | Unchanged |
| CLOUGH CAPITAL PARTNERS L P 2.66% of their portfolio | 280.9k $29.8m | Added +149.5k |
| TORTOISE CAPITAL ADVISORS, L.L.C. 0.37% of their portfolio | 273.5k $29.1m | Added +190.6k |