Carronade Capital Management’s Expand Energy Corp Class C Warrants EXEEL Stock Holding History

Carronade Capital Management’s Portfolio EXEEL Stock Details EXEEL Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2025 Q4	–	Sell	-456,802	Closed	-$43.8M	–	36
2025 Q3	$43.8M	Hold	456,802	–	–	1.01%	11
2025 Q2	$49.3M	Buy	456,802 +436,078	+2,104%	+$43.1M	3.52%	6
2025 Q1	$6.35M	Sell	20,724 -436,078	-95%	-$39.9M	0.36%	24
2024 Q4	$39M	Hold	456,802	–	–	2.08%	10
2024 Q3	$29.8M	Sell	456,802 -200	-0%	-$11.9K	1.96%	6
2024 Q2	$30M	Hold	457,002	–	–	1.58%	7
2024 Q1	$33.5M	Hold	457,002	–	–	2.1%	8
2023 Q4	$27.3M	Buy	457,002 +200	+0%	+$13.3K	3.13%	5
2023 Q3	$32.2M	Buy	456,802 +550	+0.1%	+$37.4K	4.74%	7
2023 Q2	$29.5M	Hold	456,252	–	–	7.18%	5
2023 Q1	$26.6M	Hold	456,252	–	–	10.77%	5
2022 Q4	$35.3M	Buy	456,252 +50,732	+13%	+$4.11M	7.7%	5
2022 Q3	$29.5M	Sell	405,520 -79,850	-16%	-$5.6M	3.28%	6
2022 Q2	$25.5M	Buy	485,370 +286,383	+144%	+$17.5M	3.61%	5
2022 Q1	$11.1M	Buy	198,987 +53,275	+37%	+$2.19M	0.79%	15
2021 Q4	$4.72M	Buy	+145,712	New	+$4.51M	1.4%	14

Other funds holding EXEEL

VOYA Investment Management Atlanta, Georgia $116B AUM 61.47% 1-Year Est. Return

OCM

Oaktree Capital Management Los Angeles, California $6.56B AUM 42.97% 1-Year Est. Return

OGM

OnyxPoint Global Management New York $424M AUM 84.95% 1-Year Est. Return

CSS LLC Chicago, Illinois $2.09B AUM 58.96% 1-Year Est. Return

GCM

Glendon Capital Management Santa Monica, California $773M AUM 8.9% 1-Year Est. Return

WAM

Wolverine Asset Management Chicago, Illinois $11.4B AUM 5.66% 1-Year Est. Return

Morgan Stanley New York $1.66T AUM 25.57% 1-Year Est. Return

Fidelity Investments Boston, Massachusetts $1.9T AUM 41.92% 1-Year Est. Return

Dalton Investments Las Vegas, Nevada $111M AUM 7.89% 1-Year Est. Return

BlackRock New York $6.73T AUM 46.02% 1-Year Est. Return

Carronade Capital Management's EXEEL Position: Q4 2025 in Review

Carronade Capital Management sold out of Expand Energy Corp Class C Warrants (EXEEL) in Q4 2025, closing a stake of 456,802 shares — an estimated $43.8M sold.

Carronade Capital Management first reported a position in EXEEL in Q4 2021 and held it in 16 quarters. The position peaked at $49.3M in Q2 2025. 50 funds tracked by Wall St. Rank hold EXEEL as of Q4 2025.

Carronade Capital Management reported no remaining Expand Energy Corp Class C Warrants position as of Q4 2025 after selling out during the quarter.
Carronade Capital Management sold 456,802 Expand Energy Corp Class C Warrants shares in Q4 2025, an estimated $43.8M.
Carronade Capital Management first reported a position in Expand Energy Corp Class C Warrants in Q4 2021 and held it in 16 quarters.
Carronade Capital Management's Expand Energy Corp Class C Warrants position peaked at $49.3M in Q2 2025.
50 funds tracked by Wall St. Rank held Expand Energy Corp Class C Warrants as of Q4 2025.

Based on Carronade Capital Management's 13F filing for Q4 2025, filed 13 Feb 2026.