CONSTELLATION ENERGY CORP CEG
COM · Common Stock · CUSIP 21037T109 · ISIN US21037T1097
- SectorUtilities
- IndustryElectric Services
- HeadquartersBaltimore, MD
- FilingsSEC EDGAR
* 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 ($382.2m this quarter). Holder counts are more reliable. Shares outstanding: 362.0m as of 2026-02-01, 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 ≈ $352.05. Options: 47 managers hold calls ($2.2bn notional), 46 hold puts ($3.0bn).
Trends to Q4 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 823 |
| Q4 2022 | 875 |
| Q1 2023 | 841 |
| Q2 2023 | 849 |
| Q3 2023 | 906 |
| Q4 2023 | 1,005 |
| Q1 2024 | 1,175 |
| Q2 2024 | 1,310 |
| Q3 2024 | 1,427 |
| Q4 2024 | 1,546 |
| Q1 2025 | 1,548 |
| Q2 2025 | 1,723 |
| Q3 2025 | 1,824 |
| Q4 2025 | 2,006 |
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 | 595 | 462 |
| Q2 2024 | 700 | 427 |
| Q3 2024 | 756 | 533 |
| Q4 2024 | 806 | 522 |
| Q1 2025 | 816 | 654 |
| Q2 2025 | 1,007 | 607 |
| Q3 2025 | 978 | 604 |
| Q4 2025 | 1,040 | 698 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2025 | $1.1bn | $2.4bn | 2.16 |
| Q2 2025 | $2.2bn | $3.0bn | 1.35 |
| Q3 2025 | $1.9bn | $2.7bn | 1.42 |
| Q4 2025 | $2.2bn | $3.0bn | 1.34 |
Biggest buyers
| Invesco Ltd. | Added | +7.1m |
| VICTORY CAPITAL MANAGEMENT INC | Added | +1.8m |
| Capital World Investors | Added | +1.4m |
| FMR LLC | Added | +1.1m |
| JENNISON ASSOCIATES LLC | Added | +1.1m |
| PointState Capital LP | New | +827.6k |
| BlackRock, Inc. | Added | +786.4k |
| Corient Private Wealth LP | Added | +768.4k |
| HSBC HOLDINGS PLC | Added | +693.3k |
| Rubric Capital Management LP | New | +670.0k |
Biggest sellers
| Capital International Investors | Reduced | -9.3m |
| JPMORGAN CHASE & CO | Reduced | -4.7m |
| PRICE T ROWE ASSOCIATES INC /MD/ | Reduced | -1.2m |
| Value Aligned Research Advisors, LLC | Reduced | -647.0k |
| GOLDMAN SACHS GROUP INC | Reduced | -582.9k |
| JANE STREET GROUP, LLC | Reduced | -429.1k |
| DEUTSCHE BANK AG\ | Reduced | -386.7k |
| UBS Group AG | Reduced | -383.6k |
| ROYAL BANK OF CANADA | Reduced | -367.7k |
| BANK OF MONTREAL /CAN/ | Reduced | -253.0k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $542.5m1.5m shares |
| JANE STREET GROUP, LLC | Added | $347.6m983.9k shares |
| CITADEL ADVISORS LLC | Added | $323.4m915.4k shares |
| PEAK6 LLC | Reduced | $139.4m394.6k shares |
| IMC-Chicago, LLC | Added | $113.9m322.4k shares |
| Valliance Asset Management Ltd | New | $102.7m290.6k shares |
| GROUP ONE TRADING LLC | Reduced | $63.1m178.7k shares |
| Walleye Trading LLC | Added | $58.9m166.8k shares |
| Point72 Asset Management, L.P. | Added | $49.5m140.1k shares |
| UBS Group AG | Added | $47.1m133.3k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $742.1m2.1m shares |
| JANE STREET GROUP, LLC | Added | $557.1m1.6m shares |
| CITADEL ADVISORS LLC | Added | $445.3m1.3m shares |
| BARCLAYS PLC | Added | $101.9m288.5k shares |
| GROUP ONE TRADING LLC | Added | $98.6m279.1k shares |
| IMC-Chicago, LLC | Reduced | $92.9m263.0k shares |
| Capula Management Ltd | Added | $90.8m256.9k shares |
| Artisan Partners Limited Partnership | New | $88.1m249.5k shares |
| SIMPLEX TRADING, LLC | Reduced | $82.4m233.3k shares |
| UBS Group AG | Added | $70.1m198.5k 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 |
|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 6.4% |
Fell to 5% or below in the last year: ECP ControlCo, LLC (4.0%, 2026-08-07), Capital International Investors (3.3%, 2026-05-14), VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD CAPITAL MANAGEMENT LLC)
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 | — | 0 | — | — |
| Q1 2025 | 0 | — | 1 | $1.2m | — |
| Q2 2025 | 0 | — | 0 | — | — |
| Q3 2025 | 0 | — | 0 | — | — |
| Q4 2025 | 0 | — | 0 | — | — |
None reported in Q4 2025.
Holders, Q4 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.20% of their portfolio | 38.6m $13.6bn | Added +205.7k |
| BlackRock, Inc. 0.14% of their portfolio | 23.3m $8.2bn | Added +786.4k |
| STATE STREET CORP 0.22% of their portfolio | 18.5m $6.5bn | Added +295.3k |
| Capital International Investors 0.93% of their portfolio | 16.8m $5.9bn | Reduced -9.3m |
| FMR LLC 0.26% of their portfolio | 14.4m $5.1bn | Added +1.1m |
| Invesco Ltd. 0.36% of their portfolio | 10.6m $3.8bn | Added +7.1m |
| MORGAN STANLEY 0.17% of their portfolio | 8.1m $2.8bn | Added +35.7k |
| GEODE CAPITAL MANAGEMENT, LLC 0.15% of their portfolio | 7.1m $2.5bn | Added +23.7k |
| JENNISON ASSOCIATES LLC 1.48% of their portfolio | 7.0m $2.5bn | Added +1.1m |
| COATUE MANAGEMENT LLC 5.22% of their portfolio | 5.9m $2.1bn | Added +181.2k |
| WELLS FARGO & COMPANY/MN 0.29% of their portfolio | 4.2m $1.5bn | Added +75.5k |
| NORGES BANK 0.16% of their portfolio | 4.1m $1.5bn | Not comparable |
| Bank of New York Mellon Corp 0.21% of their portfolio | 3.4m $1.2bn | Reduced -47.4k |
| NORTHERN TRUST CORP 0.14% of their portfolio | 3.1m $1.1bn | Reduced -68.6k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.11% of their portfolio | 2.9m $1.0bn | Reduced -1.2m |
| BANK OF AMERICA CORP /DE/ 0.07% of their portfolio | 2.9m $1.0bn | Reduced -21.6k |
| Capital World Investors 0.11% of their portfolio | 2.3m $828.6m | Added +1.4m |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.12% of their portfolio | 2.2m $786.4m | Added +47.2k |
| FRANKLIN RESOURCES INC 0.19% of their portfolio | 2.2m $781.4m | Added +313.5k |
| VICTORY CAPITAL MANAGEMENT INC 0.43% of their portfolio | 2.2m $766.9m | Added +1.8m |
| JPMORGAN CHASE & CO 0.05% of their portfolio | 1.9m $674.7m | Reduced -4.7m |
| UBS Group AG 0.13% of their portfolio | 1.9m $674.5m | Reduced -383.6k |
| Capital Research Global Investors 0.12% of their portfolio | 1.9m $663.2m | Reduced -166.0k |
| GOLDMAN SACHS GROUP INC 0.09% of their portfolio | 1.8m $652.6m | Reduced -582.9k |
| Legal & General Group Plc 0.14% of their portfolio | 1.8m $632.4m | Reduced -6.2k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.12% of their portfolio | 1.6m $574.2m | Added +86.4k |
| Nuveen, LLC 0.15% of their portfolio | 1.6m $564.8m | Added +18.7k |
| ALKEON CAPITAL MANAGEMENT LLC 2.12% of their portfolio | 1.4m $484.4m | Added +330.0k |
| HSBC HOLDINGS PLC 0.13% of their portfolio | 1.3m $473.1m | Added +693.3k |
| VOYA INVESTMENT MANAGEMENT LLC 0.42% of their portfolio | 1.2m $428.2m | Reduced -131.4k |
| NORDEA INVESTMENT MANAGEMENT AB 0.35% of their portfolio | 1.1m $409.0m | Reduced -177.4k |
| REAVES W H & CO INC 7.01% of their portfolio | 1.1m $400.6m | Added +118.6k |
| NEUBERGER BERMAN GROUP LLC 0.30% of their portfolio | 1.1m $400.3m | Added +405.1k |
| ROYAL BANK OF CANADA 0.06% of their portfolio | 1.0m $363.9m | Reduced -367.7k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.11% of their portfolio | 1.0m $354.8m | Added +4.6k |
| Amundi 0.09% of their portfolio | 971.7k $343.3m | Added +83.5k |
| BARCLAYS PLC 0.14% of their portfolio | 965.4k $341.0m | Reduced -133.5k |
| Corient Private Wealth LP 0.07% of their portfolio | 932.1k $103.3m | Added +768.4k |
| Swiss National Bank 0.18% of their portfolio | 856.1k $302.4m | Reduced -47.5k |
| PointState Capital LP 5.00% of their portfolio | 827.6k $292.4m | New |
| VAN ECK ASSOCIATES CORP 0.24% of their portfolio | 825.1k $291.5m | Added +134.4k |
| DIMENSIONAL FUND ADVISORS LP 0.06% of their portfolio | 814.4k $287.7m | Reduced -11.9k |
| National Pension Service 0.21% of their portfolio | 808.1k $285.5m | Reduced -247.9k |
| Sumitomo Mitsui Trust Group, Inc. 0.16% of their portfolio | 760.8k $268.8m | Reduced -15.5k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.18% of their portfolio | 727.9k $266.6m | Added +43.8k |
| ALLIANCEBERNSTEIN L.P. 0.08% of their portfolio | 709.3k $250.6m | Added +32.7k |
| DEUTSCHE BANK AG\ 0.08% of their portfolio | 670.3k $236.8m | Reduced -386.7k |
| Rubric Capital Management LP 2.83% of their portfolio | 670.0k $236.7m | New |
| AMERIPRISE FINANCIAL INC 0.05% of their portfolio | 650.2k $229.7m | Added +12.4k |
| Clearbridge Investments, LLC 0.18% of their portfolio | 626.7k $221.4m | Added +16.0k |
| Pictet Asset Management Holding SA 0.21% of their portfolio | 608.1k $214.8m | Reduced -169.6k |
| 59 North Capital Management, LP 6.42% of their portfolio | 583.5k $206.1m | Added +117.0k |
| Electron Capital Partners, LLC 9.52% of their portfolio | 580.3k $205.0m | Reduced -3.0k |
| California Public Employees Retirement System 0.12% of their portfolio | 575.2k $203.2m | Added +18.0k |
| ProShare Advisors LLC 0.34% of their portfolio | 548.1k $193.6m | Added +151.8k |
| Railway Pension Investments Ltd 2.27% of their portfolio | 546.7k $193.1m | Added +205.3k |
| RHUMBLINE ADVISERS 0.15% of their portfolio | 517.2k $182.7m | Reduced -10.6k |
| FRED ALGER MANAGEMENT, LLC 0.71% of their portfolio | 509.1k $179.8m | Reduced -18.6k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.17% of their portfolio | 488.8k $172.7m | Reduced -18.2k |
| Munro Partners 4.72% of their portfolio | 479.3k $169.3m | Added +85.1k |
| AMERICAN CENTURY COMPANIES INC 0.08% of their portfolio | 477.9k $168.8m | Added +359.2k |
| PRINCIPAL FINANCIAL GROUP INC 0.09% of their portfolio | 477.2k $168.6m | Reduced -136.7k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.22% of their portfolio | 476.0k $168.1m | Reduced -32.1k |
| RAYMOND JAMES FINANCIAL INC 0.05% of their portfolio | 475.2k $167.9m | Added +47.9k |
| Third Point LLC 2.31% of their portfolio | 475.0k $167.8m | New |
| Assenagon Asset Management S.A. 0.25% of their portfolio | 474.2k $167.5m | Reduced -87.3k |
| Southpoint Capital Advisors LP 3.70% of their portfolio | 450.0k $159.0m | Reduced -100.0k |
| Aberdeen Group plc 0.23% of their portfolio | 426.0k $150.5m | Reduced -4.7k |
| Russell Investments Group, Ltd. 0.16% of their portfolio | 413.3k $146.1m | Reduced -21.7k |
| LPL Financial LLC 0.04% of their portfolio | 410.0k $144.8m | Added +30.5k |
| NATIONAL BANK OF CANADA /FI/ 0.15% of their portfolio | 400.2k $141.4m | Added +116.0k |
| BANK OF MONTREAL /CAN/ 0.06% of their portfolio | 392.5k $138.6m | Reduced -253.0k |
| Thrivent Financial for Lutherans 0.24% of their portfolio | 384.7k $135.9m | Added +8.5k |
| ENVESTNET ASSET MANAGEMENT INC 0.04% of their portfolio | 371.7k $131.3m | Reduced -5.3k |
| Caisse de depot et placement du Quebec 0.22% of their portfolio | 370.3k $130.8m | Reduced -64.3k |
| Korea Investment CORP 0.24% of their portfolio | 351.1k $124.0m | Added +25.4k |
| AVIVA PLC 0.20% of their portfolio | 335.1k $118.4m | Added +13.9k |
| Empower Advisory Group, LLC 0.32% of their portfolio | 334.1k $118.0m | Added +3.0k |
| Ensign Peak Advisors, Inc 0.20% of their portfolio | 319.1k $112.7m | Reduced -40.6k |
| Swedbank AB 0.11% of their portfolio | 318.4k $112.5m | Reduced -3.0k |
| CI INVESTMENTS INC. 0.48% of their portfolio | 313.1k $110.6m | Added +63.6k |
| CITIGROUP INC 0.07% of their portfolio | 300.9k $106.3m | Reduced -46.1k |
| Value Aligned Research Advisors, LLC 2.15% of their portfolio | 296.9k $104.9m | Reduced -647.0k |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.12% of their portfolio | 296.7k $104.9m | Added +196.4k |
| BROWN ADVISORY INC 0.14% of their portfolio | 284.9k $100.7m | Reduced -493 |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.15% of their portfolio | 282.0k $99.6m | Reduced -37.1k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.18% of their portfolio | 280.5k $99.1m | Reduced -8.1k |
| CITADEL ADVISORS LLC 0.07% of their portfolio | 278.5k $98.4m | Added +180.7k |
| Mirae Asset Global Investments Co., Ltd. 0.27% of their portfolio | 277.0k $97.9m | Added +102.9k |
| SG Americas Securities, LLC 0.13% of their portfolio | 274.7k $97.0m | Added +274.0k |
| Capital International, Inc./CA/ 0.75% of their portfolio | 269.2k $95.1m | Reduced -81.5k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.08% of their portfolio | 265.7k $94.1m | Added +12.1k |
| NATIXIS ADVISORS, LLC 0.13% of their portfolio | 264.5k $93.4m | Added +6.9k |
| FIRST TRUST ADVISORS LP 0.07% of their portfolio | 257.3k $90.9m | Reduced -102.4k |
| PRUDENTIAL FINANCIAL INC 0.11% of their portfolio | 256.4k $90.6m | Reduced -102.4k |
| Migdal Insurance & Financial Holdings Ltd. 0.76% of their portfolio | 250.2k $88.4m | Added +11.2k |
| Capula Management Ltd 0.57% of their portfolio | 250.0k $88.3m | Added +249.4k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.17% of their portfolio | 246.8k $87.2m | Reduced -1.4k |
| PANAGORA ASSET MANAGEMENT INC 0.31% of their portfolio | 246.3k $87.0m | Added +42.6k |
| CIBC WORLD MARKETS CORP 0.42% of their portfolio | 237.1k $83.8m | First filing |