Vault-13

EARTHSTONE ENERGY INC ESTE

CL A · Common Stock · CUSIP 27032D304

168 institutional holders -3 vs Q1 2023
98,238,83098.2m shares reported held*
$1.4bnreported value*
26 new 68 added 44 reduced 28 sold out net bought ≈ $53.2m (+3.7m 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 ($955.2k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $14.29. Options: 12 managers hold calls ($28.3m notional), 11 hold puts ($12.9m).

Trends to Q2 2023

Institutional holders

Managers reporting a position, each quarter

0100200Q3 22: 191Q4 22: 176Q1 23: 171Q2 23: 168168Q3 22Q4 22Q1 23Q2 23
Numbers
QuarterHolders
Q3 2022191
Q4 2022176
Q1 2023171
Q2 2023168

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 23Q2 23: 94 bought or addedQ2 23: 72 cut or sold outQ2 23
Numbers
QuarterBought or addedCut or sold out
Q4 202272100
Q1 20238288
Q2 20239472

Calls vs puts

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

CallsPuts
$0$10m$20m$30mQ3 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 1.02Q2 23 calls: $28.3mQ2 23 puts: $12.9mQ2 23P/C 0.46
Numbers
QuarterCallsPutsP/C
Q3 2022$9.9m$6.1m0.61
Q4 2022$19.3m$11.0m0.57
Q1 2023$12.4m$12.7m1.02
Q2 2023$28.3m$12.9m0.46

Biggest buyers

Woodline Partners LP New +1,785,599+1.8m
WARBURG PINCUS LLC Added +1,489,100+1.5m
BlackRock Inc. Added +724,110+724.1k
MARSHALL WACE, LLP Added +632,151+632.2k
SCOPUS ASSET MANAGEMENT, L.P. New +575,000+575.0k
HRT FINANCIAL LP Added +317,311+317.3k
1492 Capital Management LLC New +256,678+256.7k
OnyxPoint Global Management LP Added +229,961+230.0k
Brandywine Global Investment Management, LLC New +209,447+209.4k
DIMENSIONAL FUND ADVISORS LP Added +191,192+191.2k

Biggest sellers

MILLENNIUM MANAGEMENT LLC Reduced -1,976,758-2.0m
Redwood Investments, LLC Sold out -766,106-766.1k
STATE STREET CORP Reduced -446,434-446.4k
ONTARIO TEACHERS PENSION PLAN BOARD Sold out -409,400-409.4k
ExodusPoint Capital Management, LP Sold out -225,435-225.4k
GOLDMAN SACHS GROUP INC Reduced -188,711-188.7k
TWINBEECH CAPITAL LP Sold out -171,251-171.3k
Squarepoint Ops LLC Reduced -168,496-168.5k
Cubist Systematic Strategies, LLC Reduced -148,632-148.6k
Ergoteles LLC Sold out -110,831-110.8k

Biggest calls

Caption Management, LLC Added $7.7m540.0k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $7.5m525.2k shares
GROUP ONE TRADING LLC Added $3.8m267.8k shares
CITADEL ADVISORS LLC Reduced $3.8m263.4k shares
WOLVERINE TRADING, LLC Added $3.5m247.9k shares
PEAK6 Investments LLC Reduced $647.3k45.3k shares
SIMPLEX TRADING, LLC Reduced $573.0k40.1k shares
JANE STREET GROUP, LLC Reduced $423.0k29.6k shares
Walleye Capital LLC Unchanged $268.7k18.8k shares
HAP Trading, LLC Added $24.4k19.9k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $10.3m718.0k shares
JANE STREET GROUP, LLC Added $1.0m72.5k shares
SIMPLEX TRADING, LLC Added $480.0k33.6k shares
WOLVERINE TRADING, LLC Added $411.7k29.2k shares
CITADEL ADVISORS LLC Reduced $197.2k13.8k shares
GROUP ONE TRADING LLC Reduced $195.8k13.7k shares
PEAK6 Investments LLC Unchanged $195.8k13.7k shares
Walleye Capital LLC New $77.2k5.4k shares
HighTower Advisors, LLC New $10.8k24 shares
Cutler Group LLC / CA Added $10.0k2.6k 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, Q2 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 EnCap Energy Capital Fund XI, L.P. 33.59% of their portfolio Houston, TX 19,819,82019.8m $283.2m $283.2m 33.59% Unchanged
2 WARBURG PINCUS LLC 5.74% of their portfolio New York, NY 12,868,23412.9m $183.9m $183.9m 5.74% Added +1.5m +1,489,100
3 Post Oak Energy Holdings, LLC 53.26% of their portfolio HOUSTON, TX 11,167,21311.2m $159.6m $159.6m 53.26% Unchanged
4 OnyxPoint Global Management LP 63.59% of their portfolio NEW YORK, NY 5,805,0045.8m $83.0m $83.0m 63.59% Added +230.0k +229,961
5 BlackRock Inc. 0.00% of their portfolio New York, NY 3,719,5373.7m $53.2m $53.2m 0.00% Added +724.1k +724,110
6 Ranger Investment Management, L.P. 3.05% of their portfolio DALLAS, TX 3,544,9813.5m $50.7m $50.7m 3.05% Added +108.5k +108,450
7 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 3,199,2843.2m $45.7m $45.7m 0.00% Added +5.8k +5,773
8 MACQUARIE GROUP LTD 0.05% of their portfolio Sydney, NSW 2000, C3 2,945,3112.9m $42.1m $42.1m 0.05% Added +51.8k +51,794
9 AMERICAN CENTURY COMPANIES INC 0.03% of their portfolio KANSAS CITY, MO 2,822,1022.8m $40.3m $40.3m 0.03% Added +31.1k +31,135
10 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 2,808,7852.8m $40.1m $40.1m 0.00% Reduced -446.4k -446,434
11 WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC 0.12% of their portfolio CHICAGO, IL 2,537,6742.5m $36.3m $36.3m 0.12% Added +47.2k +47,152
12 EnCap Energy Capital Fund VIII, L.P. 22.80% of their portfolio Houston, TX 2,303,0002.3m $32.9m $32.9m 22.80% Unchanged
13 Woodline Partners LP 0.30% of their portfolio San Francisco, CA 1,785,5991.8m $25.5m $25.5m 0.30% New
14 Saba Capital Management, L.P. 0.51% of their portfolio NEW YORK, NY 1,075,6001.1m $15.4m $15.4m 0.51% Unchanged
15 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 938,474938.5k $13.4m $13.4m 0.00% Added +172.8k +172,754
16 CITADEL ADVISORS LLC 0.01% of their portfolio MIAMI, FL 868,928868.9k $12.4m $12.4m 0.01% Reduced -95.4k -95,412
17 MARSHALL WACE, LLP 0.03% of their portfolio LONDON, X0 850,481850.5k $12.2m $12.2m 0.03% Added +632.2k +632,151
18 ROYCE & ASSOCIATES LP 0.12% of their portfolio New York, NY 845,438845.4k $12.1m $12.1m 0.12% Reduced -12.6k -12,600
19 GW&K Investment Management, LLC 0.11% of their portfolio BOSTON, MA 816,307816.3k $11.7m $11.7m 0.11% Reduced -16.4k -16,400
20 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.02% of their portfolio BALA CYNWYD, PA 757,330757.3k $10.8m $10.8m 0.02% Added +30.0k +29,973
21 DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio AUSTIN, TX 754,314754.3k $10.8m $10.8m 0.00% Added +191.2k +191,192
22 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 749,360749.4k $10.7m $10.7m 0.00% Reduced -72.7k -72,685
23 MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 713,295713.3k $10.2m $10.2m 0.01% Reduced -2.0m -1,976,758
24 PEREGRINE CAPITAL MANAGEMENT LLC 0.25% of their portfolio MINNEAPOLIS, MN 645,603645.6k $9.2m $9.2m 0.25% Added +91.7k +91,731
25 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 609,810609.8k $8.7m $8.7m 0.00% Added +114.2k +114,248
26 FIRST TRUST ADVISORS LP 0.01% of their portfolio Wheaton, IL 581,854581.9k $8.3m $8.3m 0.01% Reduced -5.3k -5,276
27 SCOPUS ASSET MANAGEMENT, L.P. 0.29% of their portfolio NEW YORK, NY 575,000575.0k $8.2m $8.2m 0.29% New
28 Russell Investments Group, Ltd. 0.01% of their portfolio Seattle, WA 541,109541.1k $7.7m $7.7m 0.01% Reduced -21.1k -21,086
29 Smith, Graham & Co., Investment Advisors, LP 0.89% of their portfolio Houston, TX 516,777516.8k $7.4m $7.4m 0.89% Reduced -22.5k -22,524
30 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 473,172473.2k $6.8m $6.8m 0.00% Added +121.4k +121,427
31 SEI INVESTMENTS CO 0.01% of their portfolio OAKS, PA 449,874449.9k $6.4m $6.4m 0.01% Added +22.1k +22,124
32 TWO SIGMA INVESTMENTS, LP 0.02% of their portfolio NEW YORK, NY 415,694415.7k $5.9m $5.9m 0.02% Added +13.4k +13,449
33 HRT FINANCIAL LP 0.06% of their portfolio NEW YORK, NY 406,830406.8k $5.8m $5.8m 0.06% Added +317.3k +317,311
34 GREAT LAKES ADVISORS, LLC 0.06% of their portfolio CHICAGO, IL 404,379404.4k $5.8m $5.8m 0.06% Added +62.7k +62,662
35 First Eagle Investment Management, LLC 0.01% of their portfolio NEW YORK, NY 383,029383.0k $5.5m $5.5m 0.01% Added +27.5k +27,500
36 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 380,723380.7k $5.4m $5.4m 0.00% Added +26.4k +26,416
37 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 359,245359.2k $5.1m $5.1m 0.00% Added +7.1k +7,058
38 TUDOR INVESTMENT CORP ET AL 0.08% of their portfolio STAMFORD, CT 352,647352.6k $5.0m $5.0m 0.08% Added +167.4k +167,358
39 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 327,974328.0k $4.7m $4.7m 0.00% Added +35.7k +35,713
40 VAN DEN BERG MANAGEMENT I, INC 1.65% of their portfolio AUSTIN, TX 321,394321.4k $4.6m $4.6m 1.65% Added +1.5k +1,516
41 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 319,456319.5k $4.6m $4.6m 0.00% Reduced -92.7k -92,660
42 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 282,002282.0k $4.0m $4.0m 0.00% Reduced -188.7k -188,711
43 1492 Capital Management LLC 2.14% of their portfolio MILWAUKEE, WI 256,678256.7k $3.7m $3.7m 2.14% New
44 OBERWEIS ASSET MANAGEMENT INC/ 0.39% of their portfolio LISLE, IL 223,000223.0k $3.2m $3.2m 0.39% Added +31.1k +31,100
45 RAYMOND JAMES & ASSOCIATES 0.00% of their portfolio ST PETERSBURG, FL 215,078215.1k $3.1m $3.1m 0.00% Added +49.8k +49,827
46 Brandywine Global Investment Management, LLC 0.02% of their portfolio PHILADELPHIA, PA 209,447209.4k $3.0m $3.0m 0.02% New
47 Squarepoint Ops LLC 0.02% of their portfolio NEW YORK, NY 193,674193.7k $2.8m $2.8m 0.02% Reduced -168.5k -168,496
48 ALGERT GLOBAL LLC 0.11% of their portfolio SAN FRANCISCO, CA 182,786182.8k $2.6m $2.6m 0.11% Added +100.5k +100,470
49 Jump Financial, LLC 0.09% of their portfolio Chicago, IL 173,545173.5k $2.5m $2.5m 0.09% Added +121.4k +121,403
50 Rafferty Asset Management, LLC 0.01% of their portfolio New York, NY 172,327172.3k $2.5m $2.5m 0.01% Reduced -88.6k -88,577
51 Fisher Asset Management, LLC 0.00% of their portfolio PLANO, TX 166,655166.7k $2.4m $2.4m 0.00% Reduced -10.4k -10,398
52 SANDERS MORRIS HARRIS LLC 0.48% of their portfolio Houston, TX 152,300152.3k $2.2m $2.2m 0.48% Unchanged
53 AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio Greenwich, CT 151,991152.0k $2.2m $2.2m 0.00% Added +108.7k +108,669
54 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 146,322146.3k $2.1m $2.1m 0.00% Added +62.5k +62,528
55 Point72 Asset Management, L.P. 0.01% of their portfolio STAMFORD, CT 144,230144.2k $2.1m $2.1m 0.01% Added +126.3k +126,297
56 PDT Partners, LLC 0.27% of their portfolio New York, NY 136,947136.9k $2.0m $2.0m 0.27% New
57 Quantbot Technologies LP 0.12% of their portfolio NEW YORK, NY 124,045124.0k $1.8m $1.8m 0.12% Added +96.1k +96,107
58 DARK FOREST CAPITAL MANAGEMENT LP 0.18% of their portfolio NEW YORK, NY 121,749121.7k $1.7m $1.7m 0.18% Added +112.5k +112,485
59 CoreCommodity Management, LLC 0.51% of their portfolio STAMFORD, CT 121,627121.6k $1.7m $1.7m 0.51% Added +33.2k +33,171
60 Schonfeld Strategic Advisors LLC 0.01% of their portfolio NEW YORK, NY 119,616119.6k $1.7m $1.7m 0.01% Added +75.8k +75,798
61 LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 118,787118.8k $1.7m $1.7m 0.00% Added +90.3k +90,302
62 Swiss National Bank 0.00% of their portfolio ZURICH, V8 115,600115.6k $1.7m $1.7m 0.00% Added +13.2k +13,200
63 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 113,838113.8k $1.6m $1.6m 0.00% Added +79.3k +79,313
64 Trexquant Investment LP 0.04% of their portfolio STAMFORD, CT 111,087111.1k $1.6m $1.6m 0.04% Reduced -72.9k -72,941
65 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 106,329106.3k $1.5m $1.5m 0.00% Reduced -32.8k -32,779
66 WOLVERINE ASSET MANAGEMENT LLC 0.03% of their portfolio CHICAGO, IL 101,429101.4k $1.4m $1.4m 0.03% Unchanged
67 Icon Wealth Partners, LLC 0.15% of their portfolio HOUSTON, TX 100,000100.0k $1.4m $1.4m 0.15% Unchanged
68 NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio ALBANY, NY 96,71296.7k $1.4m $1.4m 0.00% Reduced -12.0k -12,027
69 UBS Group AG 0.00% of their portfolio ZURICH, V8 94,53194.5k $1.4m $1.4m 0.00% Added +69.4k +69,439
70 Pinnacle Holdings, LLC 0.57% of their portfolio TULSA, OK 88,64688.6k $1.3m $1.3m 0.57% Added +432 +432
71 RHUMBLINE ADVISERS 0.00% of their portfolio BOSTON, MA 88,16388.2k $1.3m $1.3m 0.00% Added +30.0k +29,973
72 OUTFITTERS FINANCIAL LLC 0.99% of their portfolio Brunswick, ME 77,37577.4k $1.1m $1.1m 0.99% Reduced -1.6k -1,625
73 Verition Fund Management LLC 0.02% of their portfolio GREENWICH, CT 75,80775.8k $1.1m $1.1m 0.02% Added +16.5k +16,485
74 FMR LLC 0.00% of their portfolio BOSTON, MA 75,62175.6k $1.1m $1.1m 0.00% Added +71.9k +71,921
75 PRUDENTIAL FINANCIAL INC 0.00% of their portfolio NEWARK, NJ 74,31074.3k $1.1m $1.1m 0.00% Reduced -11.6k -11,586
76 JANUS HENDERSON GROUP PLC 0.00% of their portfolio LONDON, X0 72,09872.1k $1.0m $1.0m 0.00% Added +51.6k +51,637
77 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 65,85765.9k $941.1k $941.1k 0.00% Added +23.7k +23,707
78 CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio WEST SACRAMENTO, CA 65,72765.7k $939.2k $939.2k 0.00% Added +7.8k +7,828
79 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.00% of their portfolio TORONTO, A6 65,13465.1k $930.8k $930.8k 0.00% New
80 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 58,82358.8k $840.6k $840.6k 0.00% Reduced -94.8k -94,817
81 Cipher Capital LP 0.14% of their portfolio New York, NY 57,81857.8k $826.2k $826.2k 0.14% New
82 Phocas Financial Corp. 0.11% of their portfolio ALAMEDA, CA 55,19855.2k $789.0k $789.0k 0.11% Unchanged
83 Diametric Capital, LP 0.34% of their portfolio BOSTON, MA 53,94353.9k $770.8k $770.8k 0.34% Reduced -13.7k -13,659
84 Ziegler Capital Management, LLC 0.03% of their portfolio CHICAGO, IL 53,87153.9k $769.8k $769.8k 0.03% New
85 NewEdge Advisors, LLC 0.01% of their portfolio NEW ORLEANS, LA 47,84947.8k $683.8k $683.8k 0.01% Added +4.2k +4,155
86 Boston Partners 0.00% of their portfolio BOSTON, MA 46,85546.9k $669.6k $669.6k 0.00% Reduced -628 -628
87 HERITAGE INVESTORS MANAGEMENT CORP 0.03% of their portfolio BETHESDA, MD 46,34946.3k $662.0k $662.0k 0.03% Unchanged
88 Register Financial Advisors LLC 0.47% of their portfolio ATLANTA, GA 45,70045.7k $653.1k $653.1k 0.47% Reduced -500 -500
89 Balyasny Asset Management L.P. 0.00% of their portfolio Chicago, IL 45,20245.2k $645.9k $645.9k 0.00% New
90 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 45,20045.2k $645.9k $645.9k 0.00% Unchanged
91 CREDIT SUISSE AG/ 0.00% of their portfolio ZURICH, V8 43,86643.9k $626.8k $626.8k 0.00% Reduced -21.3k -21,289
92 Legal & General Group Plc 0.00% of their portfolio London, X0 43,23843.2k $617.9k $617.9k 0.00% Added +21.0k +20,961
93 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 40,84140.8k $583.6k $583.6k 0.00% Reduced -5.4k -5,419
94 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% Unchanged
95 KING LUTHER CAPITAL MANAGEMENT CORP 0.00% of their portfolio FORT WORTH, TX 35,80035.8k $511.6k $511.6k 0.00% Unchanged
96 Petrus Trust Company, LTA 0.05% of their portfolio Dallas, TX 31,25431.3k $446.6k $446.6k 0.05% New
97 MetLife Investment Management, LLC 0.00% of their portfolio Whippany, NJ 30,18230.2k $431.3k $431.3k 0.00% Added +7.5k +7,529
98 MOODY NATIONAL BANK TRUST DIVISION 0.03% of their portfolio GALVESTON, TX 30,00030.0k $428.7k $428.7k 0.03% Unchanged
99 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 28,04228.0k $401.0k $401.0k 0.00% Added +10.5k +10,482
100 GSA CAPITAL PARTNERS LLP 0.04% of their portfolio LONDON, X0 28,03128.0k $401.0k $401.0k 0.04% Reduced -7.8k -7,825