Vault-13

EARTHSTONE ENERGY INC ESTE

CL A · Common Stock · CUSIP 27032D304

171 institutional holders -5 vs Q4 2022
94,542,15994.5m shares reported held*
$1.2bnreported value*
27 new 55 added 58 reduced 30 sold out net sold ≈ $2.2m (-190.7k shares)

* 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 ($945.2k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $13.01. Options: 14 managers hold calls ($12.4m notional), 10 hold puts ($12.7m).

Trends to Q1 2023

Institutional holders

Managers reporting a position, each quarter

0100200Q3 22: 191Q4 22: 176Q1 23: 171171Q3 22Q4 22Q1 23
Numbers
QuarterHolders
Q3 2022191
Q4 2022176
Q1 2023171

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
1000100Q4 22: 72 bought or addedQ4 22: 100 cut or sold outQ4 22Q1 23: 82 bought or addedQ1 23: 88 cut or sold outQ1 23
Numbers
QuarterBought or addedCut or sold out
Q4 202272100
Q1 20238288

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$5m$10m$15m$20mQ3 22 calls: $9.9mQ3 22 puts: $6.1mQ3 22P/C 0.61Q4 22 calls: $19.3mQ4 22 puts: $11.0mQ4 22P/C 0.57Q1 23 calls: $12.4mQ1 23 puts: $12.7mQ1 23P/C 1.02
Numbers
QuarterCallsPutsP/C
Q3 2022$9.9m$6.1m0.61
Q4 2022$19.3m$11.0m0.57
Q1 2023$12.4m$12.7m1.02

Biggest buyers

MILLENNIUM MANAGEMENT LLC Added +1,021,402+1.0m
WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC Added +732,083+732.1k
AMERICAN CENTURY COMPANIES INC Added +686,087+686.1k
Ranger Investment Management, L.P. Added +567,422+567.4k
PEREGRINE CAPITAL MANAGEMENT LLC New +553,872+553.9k
CITADEL ADVISORS LLC Added +481,406+481.4k
MORGAN STANLEY Added +418,803+418.8k
Invesco Ltd. Added +395,536+395.5k
GREAT LAKES ADVISORS, LLC Added +328,951+329.0k
ExodusPoint Capital Management, LP New +225,435+225.4k

Biggest sellers

STATE STREET CORP Reduced -2,418,917-2.4m
DIMENSIONAL FUND ADVISORS LP Reduced -1,096,749-1.1m
Penn Capital Management Company, LLC Sold out -763,357-763.4k
NEW YORK STATE COMMON RETIREMENT FUND Reduced -557,223-557.2k
Point72 Asset Management, L.P. Reduced -390,543-390.5k
BANK OF AMERICA CORP /DE/ Reduced -349,796-349.8k
Moody Aldrich Partners LLC Sold out -338,559-338.6k
Connor, Clark & Lunn Investment Management Ltd. Sold out -286,322-286.3k
FIRST TRUST ADVISORS LP Reduced -220,669-220.7k
BANK OF NOVA SCOTIA Sold out -179,511-179.5k

Biggest calls

CITADEL ADVISORS LLC Reduced $5.0m385.3k shares
GROUP ONE TRADING LLC Reduced $1.4m105.4k shares
D. E. Shaw & Co., Inc. Reduced $1.3m100.0k shares
SIMPLEX TRADING, LLC Added $1.1m82.0k shares
JANE STREET GROUP, LLC Reduced $913.3k70.2k shares
WOLVERINE TRADING, LLC Reduced $895.0k69.9k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $742.9k57.1k shares
PEAK6 Investments LLC Added $657.0k50.5k shares
Walleye Capital LLC New $244.6k18.8k shares
Caption Management, LLC New $130.1k10.0k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $7.3m562.3k shares
Balyasny Asset Management L.P. New $3.3m250.0k shares
JANE STREET GROUP, LLC New $915.9k70.4k shares
CITADEL ADVISORS LLC Added $363.0k27.9k shares
GROUP ONE TRADING LLC Added $245.9k18.9k shares
SIMPLEX TRADING, LLC Added $210.0k16.2k shares
WOLVERINE TRADING, LLC New $184.0k14.4k shares
PEAK6 Investments LLC Unchanged $178.2k13.7k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares
Cutler Group LLC / CA Added $01.1k 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.

Holders, Q1 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 EnCap Energy Capital Fund XI, L.P. 100.00% of their portfolio Houston, TX 19,819,82019.8m $257.9m $257.9m 100.00% Unchanged
2 WARBURG PINCUS LLC 5.84% of their portfolio New York, NY 11,379,13411.4m $148.0m $148.0m 5.84% Unchanged
3 Post Oak Energy Holdings, LLC 53.81% of their portfolio HOUSTON, TX 11,167,21311.2m $145.3m $145.3m 53.81% Unchanged
4 OnyxPoint Global Management LP 61.84% of their portfolio NEW YORK, NY 5,575,0435.6m $72.5m $72.5m 61.84% Added +111.8k +111,825
5 Ranger Investment Management, L.P. 3.00% of their portfolio DALLAS, TX 3,436,5313.4m $44.7m $44.7m 3.00% Added +567.4k +567,422
6 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 3,255,2193.3m $42.4m $42.4m 0.00% Reduced -2.4m -2,418,917
7 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 3,193,5113.2m $41.5m $41.5m 0.00% Reduced -19.8k -19,757
8 BlackRock Inc. 0.00% of their portfolio New York, NY 2,995,4273.0m $39.0m $39.0m 0.00% Added +25.0k +24,975
9 MACQUARIE GROUP LTD 0.04% of their portfolio Sydney, NSW 2000, C3 2,893,5172.9m $37.6m $37.6m 0.04% Added +206.1k +206,062
10 AMERICAN CENTURY COMPANIES INC 0.03% of their portfolio KANSAS CITY, MO 2,790,9672.8m $36.3m $36.3m 0.03% Added +686.1k +686,087
11 MILLENNIUM MANAGEMENT LLC 0.04% of their portfolio NEW YORK, NY 2,690,0532.7m $35.0m $35.0m 0.04% Added +1.0m +1,021,402
12 WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC 0.11% of their portfolio CHICAGO, IL 2,490,5222.5m $32.4m $32.4m 0.11% Added +732.1k +732,083
13 EnCap Energy Capital Fund VIII, L.P. 21.99% of their portfolio Houston, TX 2,303,0002.3m $30.0m $30.0m 21.99% Unchanged
14 Saba Capital Management, L.P. 0.34% of their portfolio NEW YORK, NY 1,075,6001.1m $14.0m $14.0m 0.34% Unchanged
15 CITADEL ADVISORS LLC 0.01% of their portfolio MIAMI, FL 964,340964.3k $12.5m $12.5m 0.01% Added +481.4k +481,406
16 ROYCE & ASSOCIATES LP 0.11% of their portfolio New York, NY 858,038858.0k $11.2m $11.2m 0.11% Added +34.4k +34,400
17 GW&K Investment Management, LLC 0.10% of their portfolio BOSTON, MA 832,707832.7k $10.8m $10.8m 0.10% Added +58.8k +58,782
18 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 822,045822.0k $10.7m $10.7m 0.00% Added +418.8k +418,803
19 Redwood Investments, LLC 1.27% of their portfolio BOSTON, MA 766,106766.1k $10.0m $10.0m 1.27% Added +7.5k +7,527
20 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 765,720765.7k $10.0m $10.0m 0.00% Added +23.7k +23,714
21 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio BALA CYNWYD, PA 727,357727.4k $9.5m $9.5m 0.01% Reduced -127.0k -127,037
22 FIRST TRUST ADVISORS LP 0.01% of their portfolio Wheaton, IL 587,130587.1k $7.6m $7.6m 0.01% Reduced -220.7k -220,669
23 DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio AUSTIN, TX 563,122563.1k $7.3m $7.3m 0.00% Reduced -1.1m -1,096,749
24 Russell Investments Group, Ltd. 0.01% of their portfolio Seattle, WA 562,195562.2k $7.3m $7.3m 0.01% Added +79.8k +79,755
25 PEREGRINE CAPITAL MANAGEMENT LLC 0.21% of their portfolio MINNEAPOLIS, MN 553,872553.9k $7.2m $7.2m 0.21% New
26 Smith, Graham & Co., Investment Advisors, LP 0.85% of their portfolio Houston, TX 539,301539.3k $7.0m $7.0m 0.85% Reduced -1.7k -1,701
27 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 495,562495.6k $6.4m $6.4m 0.00% Added +8.5k +8,524
28 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 470,713470.7k $6.1m $6.1m 0.00% Reduced -107.8k -107,795
29 SEI INVESTMENTS CO 0.01% of their portfolio OAKS, PA 427,750427.8k $5.6m $5.6m 0.01% Added +172.5k +172,482
30 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 412,116412.1k $5.4m $5.4m 0.00% Added +395.5k +395,536
31 ONTARIO TEACHERS PENSION PLAN BOARD 0.05% of their portfolio Toronto, A6 409,400409.4k $5.3m $5.3m 0.05% Unchanged
32 TWO SIGMA INVESTMENTS, LP 0.02% of their portfolio NEW YORK, NY 402,245402.2k $5.2m $5.2m 0.02% Reduced -92.8k -92,836
33 Squarepoint Ops LLC 0.03% of their portfolio NEW YORK, NY 362,170362.2k $4.7m $4.7m 0.03% Added +29.0k +28,985
34 First Eagle Investment Management, LLC 0.01% of their portfolio NEW YORK, NY 355,529355.5k $4.6m $4.6m 0.01% Added +124.5k +124,500
35 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 354,307354.3k $4.6m $4.6m 0.00% Added +87.3k +87,268
36 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 352,187352.2k $4.6m $4.6m 0.00% Reduced -56.8k -56,845
37 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 351,745351.7k $4.6m $4.6m 0.00% Reduced -349.8k -349,796
38 GREAT LAKES ADVISORS, LLC 0.04% of their portfolio CHICAGO, IL 341,717341.7k $4.4m $4.4m 0.04% Added +329.0k +328,951
39 VAN DEN BERG MANAGEMENT I, INC 1.55% of their portfolio AUSTIN, TX 319,878319.9k $4.2m $4.2m 1.55% Added +510 +510
40 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 292,261292.3k $3.8m $3.8m 0.00% Reduced -1.6k -1,648
41 Rafferty Asset Management, LLC 0.02% of their portfolio New York, NY 260,904260.9k $3.4m $3.4m 0.02% Reduced -165.4k -165,415
42 ExodusPoint Capital Management, LP 0.03% of their portfolio NEW YORK, NY 225,435225.4k $2.9m $2.9m 0.03% New
43 MARSHALL WACE, LLP 0.01% of their portfolio LONDON, X0 218,330218.3k $2.8m $2.8m 0.01% New
44 OBERWEIS ASSET MANAGEMENT INC/ 0.39% of their portfolio LISLE, IL 191,900191.9k $2.5m $2.5m 0.39% Added +63.1k +63,100
45 TUDOR INVESTMENT CORP ET AL 0.05% of their portfolio STAMFORD, CT 185,289185.3k $2.4m $2.4m 0.05% New
46 Trexquant Investment LP 0.07% of their portfolio STAMFORD, CT 184,028184.0k $2.4m $2.4m 0.07% Added +69.0k +68,995
47 Fisher Asset Management, LLC 0.00% of their portfolio PLANO, TX 177,053177.1k $2.3m $2.3m 0.00% Reduced -44.2k -44,171
48 TWINBEECH CAPITAL LP 0.05% of their portfolio PURCHASE, NY 171,251171.3k $2.2m $2.2m 0.05% New
49 Cubist Systematic Strategies, LLC 0.02% of their portfolio STAMFORD, CT 170,274170.3k $2.2m $2.2m 0.02% Added +170.2k +170,156
50 RAYMOND JAMES & ASSOCIATES 0.00% of their portfolio ST PETERSBURG, FL 165,251165.3k $2.1m $2.1m 0.00% New
51 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 153,640153.6k $2.0m $2.0m 0.00% Added +122.9k +122,852
52 SANDERS MORRIS HARRIS LLC 0.69% of their portfolio Houston, TX 152,300152.3k $2.0m $2.0m 0.69% New
53 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 139,108139.1k $1.8m $1.8m 0.00% Reduced -175.8k -175,818
54 Ergoteles LLC 0.06% of their portfolio NEW YORK, NY 110,831110.8k $1.4m $1.4m 0.06% New
55 NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio ALBANY, NY 108,739108.7k $1.4m $1.4m 0.00% Reduced -557.2k -557,223
56 Swiss National Bank 0.00% of their portfolio ZURICH, V8 102,400102.4k $1.3m $1.3m 0.00% Reduced -12.1k -12,100
57 WOLVERINE ASSET MANAGEMENT LLC 0.02% of their portfolio CHICAGO, IL 101,429101.4k $1.3m $1.3m 0.02% Unchanged
58 Icon Wealth Partners, LLC 0.14% of their portfolio HOUSTON, TX 100,000100.0k $1.3m $1.3m 0.14% First filing
59 HRT FINANCIAL LP 0.01% of their portfolio NEW YORK, NY 89,51989.5k $1.2m $1.2m 0.01% Added +22.9k +22,939
60 CoreCommodity Management, LLC 0.33% of their portfolio STAMFORD, CT 88,45688.5k $1.2m $1.2m 0.33% Reduced -24.5k -24,548
61 Pinnacle Holdings, LLC 0.53% of their portfolio TULSA, OK 88,21488.2k $1.1m $1.1m 0.53% Added +3.8k +3,811
62 PRUDENTIAL FINANCIAL INC 0.00% of their portfolio NEWARK, NJ 85,89685.9k $1.1m $1.1m 0.00% Added +4.9k +4,855
63 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 83,79483.8k $1.1m $1.1m 0.00% Reduced -84.2k -84,233
64 ALGERT GLOBAL LLC 0.05% of their portfolio SAN FRANCISCO, CA 82,31682.3k $1.1m $1.1m 0.05% New
65 OUTFITTERS FINANCIAL LLC 0.93% of their portfolio Brunswick, ME 79,00079.0k $1.0m $1.0m 0.93% Reduced -7.0k -7,000
66 Diametric Capital, LP 0.42% of their portfolio BOSTON, MA 67,60267.6k $879.5k $879.5k 0.42% Added +3.5k +3,492
67 CREDIT SUISSE AG/ 0.00% of their portfolio ZURICH, V8 65,15565.2k $847.7k $847.7k 0.00% Added +2.3k +2,306
68 DRW Securities, LLC 0.11% of their portfolio CHICAGO, IL 60,00060.0k $781.0k $781.0k 0.11% Reduced -7.0k -7,000
69 Verition Fund Management LLC 0.01% of their portfolio GREENWICH, CT 59,32259.3k $771.8k $771.8k 0.01% Added +39.4k +39,362
70 RHUMBLINE ADVISERS 0.00% of their portfolio BOSTON, MA 58,19058.2k $757.0k $757.0k 0.00% Added +1.2k +1,165
71 CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio WEST SACRAMENTO, CA 57,89957.9k $753.3k $753.3k 0.00% Reduced -739 -739
72 Phocas Financial Corp. 0.10% of their portfolio ALAMEDA, CA 55,19855.2k $718.0k $718.0k 0.10% Unchanged
73 Jump Financial, LLC 0.03% of their portfolio Chicago, IL 52,14252.1k $678.4k $678.4k 0.03% Added +5.0k +5,042
74 TWO SIGMA ADVISERS, LP 0.00% of their portfolio NEW YORK, NY 48,10048.1k $625.8k $625.8k 0.00% Reduced -83.8k -83,800
75 Boston Partners 0.00% of their portfolio BOSTON, MA 47,48347.5k $617.8k $617.8k 0.00% Reduced -3.6k -3,589
76 HERITAGE INVESTORS MANAGEMENT CORP 0.03% of their portfolio BETHESDA, MD 46,34946.3k $603.0k $603.0k 0.03% Reduced -2 -2
77 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 46,26046.3k $601.8k $601.8k 0.00% Added +5.9k +5,879
78 Register Financial Advisors LLC 0.47% of their portfolio ATLANTA, GA 46,20046.2k $601.1k $601.1k 0.47% Added +16.2k +16,200
79 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 45,20045.2k $588.1k $588.1k 0.00% Unchanged
80 Schonfeld Strategic Advisors LLC 0.01% of their portfolio NEW YORK, NY 43,81843.8k $570.1k $570.1k 0.01% Reduced -5.6k -5,638
81 NewEdge Advisors, LLC 0.01% of their portfolio NEW ORLEANS, LA 43,69443.7k $568.5k $568.5k 0.01% Reduced -10.7k -10,702
82 AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio Greenwich, CT 43,32243.3k $563.6k $563.6k 0.00% Reduced -28.0k -28,049
83 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 42,15042.1k $548.4k $548.4k 0.00% Reduced -8.3k -8,288
84 Dynamic Technology Lab Private Ltd 0.05% of their portfolio SINGAPORE, U0 41,49741.5k $540.0k $540.0k 0.05% New
85 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 40,79940.8k $530.8k $530.8k 0.00% Added +9.5k +9,458
86 Versor Investments LP 0.07% of their portfolio New York, NY 40,50040.5k $526.9k $526.9k 0.07% Added +19.0k +18,972
87 GSA CAPITAL PARTNERS LLP 0.05% of their portfolio LONDON, X0 35,85635.9k $466.0k $466.0k 0.05% New
88 KING LUTHER CAPITAL MANAGEMENT CORP 0.00% of their portfolio FORT WORTH, TX 35,80035.8k $465.8k $465.8k 0.00% Unchanged
89 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 34,52534.5k $449.2k $449.2k 0.00% Reduced -4.6k -4,559
90 ETF MANAGERS GROUP, LLC 0.01% of their portfolio Summit, NJ 34,05434.1k $443.0k $443.0k 0.01% New
91 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 30,86530.9k $401.0k $401.0k 0.00% Added +1.2k +1,211
92 Engineers Gate Manager LP 0.02% of their portfolio NEW YORK, NY 30,04930.0k $390.9k $390.9k 0.02% New
93 MOODY NATIONAL BANK TRUST DIVISION 0.03% of their portfolio GALVESTON, TX 30,00030.0k $390.3k $390.3k 0.03% Unchanged
94 Y-Intercept (Hong Kong) Ltd 0.04% of their portfolio HONG KONG, K3 28,80828.8k $374.8k $374.8k 0.04% New
95 LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 28,48528.5k $370.0k $370.0k 0.00% Reduced -35.5k -35,534
96 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 28,28328.3k $368.0k $368.0k 0.00% Added +7.0k +7,035
97 Quantbot Technologies LP 0.03% of their portfolio NEW YORK, NY 27,93827.9k $363.5k $363.5k 0.03% Added +19.6k +19,555
98 Centiva Capital, LP 0.02% of their portfolio New York, NY 25,80025.8k $335.7k $335.7k 0.02% New
99 UBS Group AG 0.00% of their portfolio ZURICH, V8 25,09225.1k $326.4k $326.4k 0.00% Reduced -8.3k -8,254
100 OCCUDO QUANTITATIVE STRATEGIES LP 0.03% of their portfolio FORT LAUDERDALE, FL 24,81624.8k $322.9k $322.9k 0.03% New