Which funds own EXE
Expand Energy Corporation in the Q2 2026 filings. At least 7 of the 91 current managers on file reported a position, worth $1.9bn between them. It is among the largest positions of fewer than a fifth of the current managers on file. Buying and selling roughly cancelled this quarter, which is what a name looks like when the argument is still live.
- Managers holding
- 7
- at least, of 91 current
- Combined value
- $1.9bn
- as reported
- Opened
- 1
- new this quarter
- Added to
- 2
- already held
- Trimmed or sold out
- 5
- 2 sold out entirely
Only each manager’s largest 200 positions are listed here, so a smaller holder may be missing.
Managers reporting a position
Largest first. Weight is the share of that manager’s whole reported book, which is the number worth quoting: $400m is a rounding error in one book and a defining bet in another.
| Manager | Value | Weight | Shares | Change on the quarter | Action |
|---|---|---|---|---|---|
| Capital Research Global Investors Long-only · $717bn book | $606m | 0.1% | 6,643,659 | -$141m-155,105 | Trimmed |
| AQR Capital Management LLC Quantitative · $287bn book | $491m | 0.2% | 5,384,978 | +$68m+1,530,775 | Added |
| Oaktree Capital Management LP Activist · $7.2bn book | $478m | 6.6% | 5,237,477 | -$97m0 | Held |
| Man Group PLC Quantitative · $62.7bn book | $148m | 0.2% | 1,625,479 | +$21m+462,672 | Added |
| Rokos Capital Management LLP Macro · $26.8bn book | $63m | 0.2% | 688,699 | -$32m-173,869 | Trimmed |
| Bridgewater Associates LP Macro · $24.4bn book | $41m | 0.2% | 447,886 | opened447,886 | New |
| Freestone Grove Partners LP Multi-strategy · $15.6bn book | $25m | 0.2% | 269,312 | -$19m-123,756 | Trimmed |
Sold out of this quarter
Valued at what the position was worth in the previous filing, because by this one it is gone.
- Maverick Capital Ltd · Long/short equity$1.2m held before
- First Eagle Investment Management LLC · Activist$1.1m held before
Ownership through time
At least 18 of the 95 managers whose filings are on file listed EXE in Q2 2026, against 8 in Q1 2021. 7 managers fewer than in Q1 2026: 1 started a position; 2 sold out, by their own filings; 6 no longer listed it among the positions read, which can mean a holding below the listed range or a filing not yet made.
Each manager’s largest 500 positions a quarter are read, so a small holding in a very large book can be missing, and a manager is counted as leaving only where its own filing shows it.
- Q1 2021: 8
- Q2 2021: 9
- Q3 2021: 13
- Q4 2021: 7
- Q1 2022: 15
- Q2 2022: 18
- Q3 2022: 22
- Q4 2022: 16
- Q1 2023: 13
- Q2 2023: 13
- Q3 2023: 15
- Q4 2023: 12
- Q1 2024: 17
- Q2 2024: 14
- Q3 2024: 15
- Q4 2024: 18
- Q1 2025: 25
- Q2 2025: 29
- Q3 2025: 21
- Q4 2025: 23
- Q1 2026: 25
- Q2 2026: 18
- Q1 2021: $1.3bn
- Q2 2021: $1.6bn
- Q3 2021: $2.1bn
- Q4 2021: $2.2bn
- Q1 2022: $3.1bn
- Q2 2022: $2.7bn
- Q3 2022: $3.8bn
- Q4 2022: $3.1bn
- Q1 2023: $2.4bn
- Q2 2023: $2.5bn
- Q3 2023: $2.3bn
- Q4 2023: $1.9bn
- Q1 2024: $2.7bn
- Q2 2024: $2.6bn
- Q3 2024: $2.9bn
- Q4 2024: $5.1bn
- Q1 2025: $5.8bn
- Q2 2025: $6.1bn
- Q3 2025: $5.5bn
- Q4 2025: $6.0bn
- Q1 2026: $4.9bn
- Q2 2026: $3.7bn
Between the quarter ends of Q1 2026 and Q2 2026. Each change in shares is valued at the Q2 2026 price, so the price’s own move is left out; a 13F shows the two quarter ends, not when in between anything was bought or sold.
Started in Q2 2026
Largest increases, by shares
- AQR Capital Management LLC3,854,203 to 5,384,978 shares+$140m
- D. E. Shaw & Co.697,761 to 1,983,146 shares+$117m
- Invesco Ltd4,918,926 to 6,060,800 shares+$104m
- Marshall Wace LLP467,870 to 1,053,232 shares+$53m
- Man Group PLC1,162,807 to 1,625,479 shares+$42m
Largest decreases, by shares
- Capital World Investors6,211,571 to 3,291,597 shares-$266m
- MFS Investment Management3,725,907 to 2,520,895 shares-$110m
- Rokos Capital Management LLP862,568 to 688,699 shares-$16m
- T. Rowe Price Associates Inc3,719,035 to 3,554,701 shares-$15m
- Capital Research Global Investors6,798,764 to 6,643,659 shares-$14m
Left it
- Maverick Capital Ltdwas $1.2m
- First Eagle Investment Management LLCwas $1.1m
| Manager | Value over time | First listed | Largest | Q2 2026 |
|---|---|---|---|---|
| Capital Research Global Investors | Q3 2024 | $2.3bn | $606m | |
| Invesco Ltd | Q1 2025 | $553m | $553m | |
| AQR Capital Management LLC | Q3 2022 | $491m | $491m | |
| Oaktree Capital Management LP | Q1 2021 | $957m | $478m | |
| T. Rowe Price Associates Inc | Q4 2022 | $1.4bn | $324m | |
| Capital World Investors | Q1 2021 | $953m | $300m | |
| MFS Investment Management | Q2 2022 | $631m | $230m | |
| D. E. Shaw & Co. | Q1 2021 | $423m | $181m | |
| Man Group PLC | Q3 2025 | $148m | $148m | |
| Marshall Wace LLP | Q1 2021 | $96m | $96m | |
| Rokos Capital Management LLP | Q4 2025 | $95m | $63m | |
| Balyasny Asset Management LLC | Q1 2021 | $97m | $62m | |
| Squarepoint Ops LLC | Q1 2022 | $122m | $46m | |
| Bridgewater Associates LP | Q3 2023 | $41m | $41m | |
| Janus Henderson Group Ltd | Q1 2023 | $66m | $39m | |
| Wellington Management Group LLP | Q3 2021 | $624m | last listed Q4 2025 | |
| Fidelity (FMR LLC) | Q3 2022 | $532m | last listed Q4 2024 | |
| Citadel Advisors LLC | Q4 2024 | $285m | last listed Q2 2025 | |
| Two Sigma Advisers LP | Q1 2024 | $226m | last listed Q4 2025 | |
| Millennium Management LLC | Q2 2022 | $206m | last listed Q1 2026 | |
| Two Sigma Investments LP | Q3 2022 | $202m | last listed Q4 2025 | |
| Point72 Asset Management LP | Q3 2021 | $167m | last listed Q1 2026 | |
| Appaloosa LP | Q1 2021 | $162m | last listed Q4 2024 | |
| Dragoneer Investment Group LLC | Q4 2025 | $146m | last listed Q4 2025 | |
| Jane Street Group LLC | Q2 2025 | $112m | last listed Q2 2025 |
What EXE is worth
Knowing who owns it is half the question. The other half is what it is worth against the companies it trades beside, which is the one an interviewer will follow up with.
Build the comp set around EXE →How much of the picture this is
A Form 13F reports US-listed long equity and nothing else: no shorts, no bonds, no cash and no non-US listings. It arrives forty-five days after the quarter ends, so a manager who sold in July still shows the position in a filing published in August. This page reads the managers on file here rather than every filer in the market, and each manager’s largest positions rather than the whole table, so a small position in a very large book may not appear. Say “their last filing showed” rather than “they own”, and the distinction will do you credit.
What to do with a name the funds are buying
Knowing who owns something is the start of a pitch, not the pitch. The next questions are what it is worth and why they were buying.
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The holdings, every quarter, and the week between
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