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 ($199.2m this quarter). Holder counts are more reliable. Shares outstanding: 240.4m as of 2026-02-11, 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 ≈ $110.36. Options: 29 managers hold calls ($406.2m notional), 32 hold puts ($660.9m).
Trends to Q4 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 |
| Q4 2025 | 872 |
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 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 |
| Q4 2025 | 476 | 308 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2025 | $722.6m | $1.1bn | 1.45 |
| Q2 2025 | $561.1m | $947.3m | 1.69 |
| Q3 2025 | $385.4m | $1.1bn | 2.74 |
| Q4 2025 | $406.2m | $660.9m | 1.63 |
Biggest buyers
| Capital Research Global Investors | Added | +5.3m |
| VICTORY CAPITAL MANAGEMENT INC | Added | +2.2m |
| Dragoneer Investment Group, LLC | New | +1.3m |
| TD Asset Management Inc | Added | +938.3k |
| Rokos Capital Management LLP | New | +862.6k |
| CIBC Private Wealth Group LLC | Added | +806.5k |
| Assenagon Asset Management S.A. | Added | +769.9k |
| Bank Julius Baer & Co. Ltd, Zurich | New | +514.9k |
| 59 North Capital Management, LP | Added | +501.0k |
| Migdal Insurance & Financial Holdings Ltd. | New | +460.0k |
Biggest sellers
| 1832 Asset Management L.P. | Reduced | -3.8m |
| BlackRock, Inc. | Reduced | -2.2m |
| JPMORGAN CHASE & CO | Reduced | -2.0m |
| Phoenix Financial Ltd. | Reduced | -1.8m |
| PRICE T ROWE ASSOCIATES INC /MD/ | Reduced | -1.2m |
| WELLINGTON MANAGEMENT GROUP LLP | Reduced | -1.1m |
| FMR LLC | Reduced | -1.0m |
| MACQUARIE GROUP LTD | Reduced | -808.8k |
| Pacer Advisors, Inc. | Reduced | -802.8k |
| TWO SIGMA ADVISERS, LP | Reduced | -779.4k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $124.1m1.1m shares |
| JANE STREET GROUP, LLC | Added | $58.5m529.8k shares |
| D. E. Shaw & Co., Inc. | Added | $44.0m398.6k shares |
| CITADEL ADVISORS LLC | Added | $41.5m375.6k shares |
| Point72 Asset Management, L.P. | Added | $14.4m130.3k shares |
| GOLDMAN SACHS GROUP INC | New | $13.9m126.0k shares |
| Caption Management, LLC | Added | $11.5m104.2k shares |
| PEAK6 LLC | Added | $11.0m100.0k shares |
| Walleye Trading LLC | Reduced | $10.7m97.4k shares |
| MILLENNIUM MANAGEMENT LLC | Added | $9.8m89.1k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $182.6m1.7m shares |
| CITADEL ADVISORS LLC | Reduced | $100.9m914.0k shares |
| JANE STREET GROUP, LLC | Added | $87.8m795.7k shares |
| NOMURA HOLDINGS INC | Reduced | $50.3m456.0k shares |
| IMC-Chicago, LLC | Added | $31.4m284.5k shares |
| GROUP ONE TRADING LLC | Added | $24.3m220.3k shares |
| BNP PARIBAS FINANCIAL MARKETS | Added | $22.5m2.0k shares |
| D. E. Shaw & Co., Inc. | Added | $20.0m181.3k shares |
| HRT FINANCIAL LP | New | $16.7m151.3k shares |
| Walleye Trading LLC | Added | $15.6m141.7k 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 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 |
|---|---|---|---|---|---|
| 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 | — | — |
| Q4 2025 | 0 | — | 0 | — | — |
None reported in Q4 2025.
Holders, Q4 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.04% of their portfolio | 27.9m $3.1bn | Reduced -11.8k |
| Capital Research Global Investors 0.43% of their portfolio | 21.3m $2.3bn | Added +5.3m |
| BlackRock, Inc. 0.03% of their portfolio | 18.2m $2.0bn | Reduced -2.2m |
| STATE STREET CORP 0.05% of their portfolio | 13.2m $1.5bn | Reduced -31.2k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.12% of their portfolio | 9.7m $1.1bn | Reduced -1.2m |
| GEODE CAPITAL MANAGEMENT, LLC 0.04% of their portfolio | 6.4m $706.0m | Reduced -208.2k |
| OAKTREE CAPITAL MANAGEMENT LP 9.06% of their portfolio | 5.1m $558.7m | Unchanged |
| T. Rowe Price Investment Management, Inc. 0.21% of their portfolio | 4.7m $523.6m | Added +295.1k |
| Invesco Ltd. 0.04% of their portfolio | 4.1m $452.1m | Reduced -262.4k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.14% of their portfolio | 3.9m $424.9m | Reduced -209.9k |
| VICTORY CAPITAL MANAGEMENT INC 0.20% of their portfolio | 3.3m $362.7m | Added +2.2m |
| MORGAN STANLEY 0.02% of their portfolio | 3.2m $351.3m | Added +138.4k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.06% of their portfolio | 2.7m $299.4m | Reduced -67.1k |
| DISCIPLINED GROWTH INVESTORS INC /MN 5.39% of their portfolio | 2.5m $281.4m | Added +56.2k |
| WELLINGTON MANAGEMENT GROUP LLP 0.05% of their portfolio | 2.5m $276.9m | Reduced -1.1m |
| Bank of New York Mellon Corp 0.04% of their portfolio | 2.3m $255.0m | Reduced -316.6k |
| DIMENSIONAL FUND ADVISORS LP 0.05% of their portfolio | 2.3m $253.9m | Added +21.1k |
| FMR LLC 0.01% of their portfolio | 2.2m $237.4m | Reduced -1.0m |
| CIBC Private Wealth Group LLC 0.38% of their portfolio | 2.1m $227.7m | Added +806.5k |
| Glendon Capital Management LP 13.18% of their portfolio | 2.0m $221.5m | Reduced -123.8k |
| NORTHERN TRUST CORP 0.03% of their portfolio | 2.0m $216.0m | Reduced -6.5k |
| GOLDMAN SACHS GROUP INC 0.03% of their portfolio | 1.8m $203.6m | Reduced -235.5k |
| 59 North Capital Management, LP 6.33% of their portfolio | 1.8m $203.2m | Added +501.0k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 1.7m $192.9m | Reduced -128.7k |
| Altshuler Shaham Ltd 2.89% of their portfolio | 1.7m $189.5m | Added +125.1k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.03% of their portfolio | 1.7m $186.4m | Added +43.9k |
| VOYA INVESTMENT MANAGEMENT LLC 0.18% of their portfolio | 1.7m $182.4m | Reduced -64.0k |
| Assenagon Asset Management S.A. 0.27% of their portfolio | 1.6m $181.3m | Added +769.9k |
| Slate Path Capital LP 2.33% of their portfolio | 1.6m $173.0m | Reduced -48.2k |
| DEUTSCHE BANK AG\ 0.06% of their portfolio | 1.6m $171.3m | Added +204.7k |
| AMERIPRISE FINANCIAL INC 0.04% of their portfolio | 1.6m $172.8m | Added +88.8k |
| Thrivent Financial for Lutherans 0.30% of their portfolio | 1.5m $168.2m | Reduced -3.1k |
| CITADEL ADVISORS LLC 0.11% of their portfolio | 1.5m $160.8m | Added +449.3k |
| LORD, ABBETT & CO. LLC 0.49% of their portfolio | 1.4m $159.4m | Reduced -142.8k |
| Phoenix Financial Ltd. 1.62% of their portfolio | 1.4m $149.7m | Reduced -1.8m |
| Merewether Investment Management, LP 3.37% of their portfolio | 1.3m $146.7m | Reduced -188.4k |
| Dragoneer Investment Group, LLC 3.18% of their portfolio | 1.3m $145.6m | New |
| TD Asset Management Inc 0.11% of their portfolio | 1.3m $142.9m | Added +938.3k |
| TWO SIGMA INVESTMENTS, LP 0.18% of their portfolio | 1.1m $120.4m | Reduced -437.3k |
| Legal & General Group Plc 0.03% of their portfolio | 1.0m $115.5m | Reduced -52.8k |
| PRUDENTIAL FINANCIAL INC 0.13% of their portfolio | 1.0m $110.6m | Reduced -14.8k |
| PRINCIPAL FINANCIAL GROUP INC 0.06% of their portfolio | 993.2k $109.6m | Added +452.5k |
| UBS Group AG 0.02% of their portfolio | 992.9k $109.6m | Reduced -202.9k |
| Amundi 0.03% of their portfolio | 914.4k $100.9m | Added +52.4k |
| Qube Research & Technologies Ltd 0.14% of their portfolio | 911.2k $100.6m | Added +218.0k |
| JENNISON ASSOCIATES LLC 0.06% of their portfolio | 892.9k $98.5m | Added +402.6k |
| Rokos Capital Management LLP 1.40% of their portfolio | 862.6k $95.2m | New |
| MILLENNIUM MANAGEMENT LLC 0.07% of their portfolio | 841.3k $92.8m | Added +154.5k |
| Holocene Advisors, LP 0.19% of their portfolio | 834.2k $92.1m | Reduced -33.0k |
| AMERICAN CENTURY COMPANIES INC 0.05% of their portfolio | 818.7k $90.3m | Added +178.7k |
| AQR CAPITAL MANAGEMENT LLC 0.05% of their portfolio | 802.3k $88.5m | Reduced -168.4k |
| Ninepoint Partners LP 10.48% of their portfolio | 800.0k $88.3m | Reduced -100.0k |
| Stephens Investment Management Group LLC 1.10% of their portfolio | 761.9k $84.1m | Added +4.3k |
| Sagefield Capital LP 6.85% of their portfolio | 733.1k $80.9m | Added +2.4k |
| HSBC HOLDINGS PLC 0.02% of their portfolio | 716.5k $79.0m | Added +345.3k |
| Kopernik Global Investors, LLC 6.01% of their portfolio | 681.6k $75.2m | Reduced -56.5k |
| NEUBERGER BERMAN GROUP LLC 0.06% of their portfolio | 675.7k $74.6m | Reduced -108.5k |
| RAYMOND JAMES FINANCIAL INC 0.02% of their portfolio | 665.8k $73.5m | Added +293.1k |
| Swiss National Bank 0.04% of their portfolio | 652.6k $72.0m | Added +900 |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. 0.11% of their portfolio | 632.2k $69.8m | First filing |
| Alyeska Investment Group, L.P. 0.19% of their portfolio | 620.8k $68.5m | Reduced -466.4k |
| Zurich Insurance Group Ltd/FI 0.47% of their portfolio | 609.3k $67.2m | Added +290.4k |
| VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P. 0.65% of their portfolio | 605.6k $66.8m | Reduced -163.6k |
| Nuveen, LLC 0.02% of their portfolio | 601.5k $66.4m | Added +1.3k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 600.1k $66.2m | Reduced -2.0m |
| WELLS FARGO & COMPANY/MN 0.01% of their portfolio | 593.7k $65.5m | Added +106.7k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.04% of their portfolio | 560.7k $61.6m | Added +31.2k |
| Gotham Asset Management, LLC 0.22% of their portfolio | 536.8k $59.2m | Added +132.3k |
| Sumitomo Mitsui Trust Group, Inc. 0.03% of their portfolio | 515.4k $56.9m | Reduced -100.9k |
| Bank Julius Baer & Co. Ltd, Zurich 0.16% of their portfolio | 514.9k $57.2m | New |
| LSP Investment Advisors, LLC 29.91% of their portfolio | 509.7k $56.3m | Added +190.3k |
| Balyasny Asset Management L.P. 0.10% of their portfolio | 495.1k $54.6m | Added +454.0k |
| MACKENZIE FINANCIAL CORP 0.07% of their portfolio | 494.8k $55.3m | Added +24.1k |
| JANUS HENDERSON GROUP PLC 0.02% of their portfolio | 492.8k $54.4m | Added +20.1k |
| BARCLAYS PLC 0.02% of their portfolio | 485.8k $53.6m | Reduced -430.4k |
| Migdal Insurance & Financial Holdings Ltd. 0.44% of their portfolio | 460.0k $50.8m | New |
| Clearbridge Investments, LLC 0.04% of their portfolio | 444.2k $49.0m | Added +1.0k |
| Retirement Systems of Alabama 0.15% of their portfolio | 424.4k $46.8m | Reduced -12.0k |
| California Public Employees Retirement System 0.03% of their portfolio | 416.9k $46.0m | Added +6.3k |
| RHUMBLINE ADVISERS 0.04% of their portfolio | 416.6k $46.0m | Added +2.5k |
| Gemsstock Ltd. 5.57% of their portfolio | 400.5k $44.2m | Added +171.7k |
| BNP PARIBAS FINANCIAL MARKETS 0.03% of their portfolio | 383.8k $42.4m | Reduced -52.0k |
| DEPRINCE RACE & ZOLLO INC 0.79% of their portfolio | 374.6k $41.3m | Reduced -152 |
| THOMPSON SIEGEL & WALMSLEY LLC 0.69% of their portfolio | 372.9k $41.2m | Added +118.5k |
| SCHWARTZ INVESTMENT COUNSEL INC 1.43% of their portfolio | 370.4k $40.9m | Unchanged |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.06% of their portfolio | 370.0k $40.8m | Reduced -306.8k |
| FIRST TRUST ADVISORS LP 0.03% of their portfolio | 369.6k $40.8m | Added +37.3k |
| NATIXIS ADVISORS, LLC 0.06% of their portfolio | 366.3k $40.4m | Added +6.3k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.06% of their portfolio | 365.5k $40.3m | Added +180.1k |
| PointState Capital LP 0.68% of their portfolio | 361.4k $39.9m | Added +94.9k |
| Two Creeks Capital Management, LP 3.12% of their portfolio | 344.8k $38.1m | Reduced -29.4k |
| Russell Investments Group, Ltd. 0.04% of their portfolio | 340.0k $37.5m | Reduced -48.3k |
| National Pension Service 0.03% of their portfolio | 335.9k $37.1m | Added +39.3k |
| PRIMECAP MANAGEMENT CO/CA/ 0.03% of their portfolio | 330.9k $36.5m | Reduced -3.9k |
| Sourcerock Group LLC 2.06% of their portfolio | 325.4k $35.9m | New |
| ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio | 323.7k $35.7m | Reduced -8.9k |
| ROYAL BANK OF CANADA 0.01% of their portfolio | 319.2k $35.2m | Reduced -384.2k |
| GREAT LAKES ADVISORS, LLC 0.28% of their portfolio | 310.7k $34.3m | Reduced -8.1k |
| Susquehanna Portfolio Strategies, LLC 0.51% of their portfolio | 299.0k $33.0m | New |
| STEADFAST CAPITAL MANAGEMENT LP 0.57% of their portfolio | 294.7k $32.5m | Added +266.7k |