Devon Energy

DVN • NYSE

Devon Energy is a oil & gas exploration & production company in the energy sector on NYSE, led by Clay M. Gaspar, with a market cap of $23.5B. As of Q3 2025, 76% of shares are held by 1,066 institutional investors, with VANGUARD GROUP INC as the largest holder at 12.88%.

President and Chief Executive OfficerClay M. Gaspar

Market Cap$23.5B

Oil & Gas Exploration & Production

Energy

Employees1.9K

Websitedevonenergy.com

Country

United States of America

Overview

Overview of institutional ownership in DVN as of Q3 2025 with a market cap of $22.3B

All Institutions

Institutions: 1,066
Value Held: $17.0B
Shares Held: 485.6M
Avg Position: $16.0M
Median Position: $625.5K

Hedge Funds

Hedge Funds: 70
Value Held: $1.1B
Shares Held: 31.7M
Avg Position: $15.9M
Median Position: $2.5M

Ownership Breakdown

Institutional (non-HF)

71.49%

$15.9B

Hedge Funds

4.99%

$1.1B

Retail & Other

23.51%

$5.2B

Based on market cap of $22.3B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in DVN as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
VANGUARD GROUP INC Institution	Salim Ramji CEO	$2.9B 0.04% of portfolio	12.88% 81.8M shares	≤ Q2 2013 Held for 12y 5m+	$6.69T
B BlackRock, Inc. Institution	-	$2.1B 0.04% of portfolio	9.53% 60.5M shares	≤ Q2 2013 Held for 12y 5m+	$5.67T
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$1.2B 0.04% of portfolio	5.57% 35.3M shares	≤ Q2 2013 Held for 12y 5m+	$2.88T
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$663.5M 0.04% of portfolio	2.99% 19.0M shares	≤ Q2 2013 Held for 12y 5m+	$1.57T
VICTORY CAPITAL MANAGEMENT INC Long Only Manager	David Craig Brown CEO	$415.3M 0.26% of portfolio	1.87% 11.8M shares	Q3 2013 Held for 12y 2m	$158.22B
E EnCap Energy Capital Fund XI, L.P. Institution	-	$413.9M 39.05% of portfolio	1.86% 11.8M shares	Q3 2024 Held for 1y 2m	$1.1B
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$413.8M 0.03% of portfolio	1.86% 11.8M shares	≤ Q2 2013 Held for 12y 5m+	$1.65T
E EnCap Partners GP, LLC Institution	-	$366.2M 70.21% of portfolio	1.65% 10.4M shares	Q3 2024 Held for 1y 2m	$521.6M
DIMENSIONAL FUND ADVISORS LP Long Only Manager	David Paul Butler CEO	$327.9M 0.07% of portfolio	1.47% 9.4M shares	≤ Q2 2013 Held for 12y 5m+	$466.32B
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	David Gary Kabiller Founder	$288.3M 0.18% of portfolio	1.30% 8.2M shares	≤ Q2 2013 Held for 12y 5m+	$156.17B

Net Capital Flow

Institutional buying and selling activity for DVN in Q3 2025

Traded: −$86.1M
Buyers: 494
Sellers: 514
Total Bought: +$1.1B
Total Sold: −$1.1B
Avg Position: $14.5M

Biggest Buyers

Institution	Net Bought	Current Position
B BlackRock, Inc. Institution	+$91.2M +2.6M shares	$2.1B 60.5M shares
N Neuberger Berman Group LLC Institution	+$75.0M +2.1M shares	$149.6M 4.3M shares
BARCLAYS PLC Institution	+$74.0M +2.1M shares	$137.9M 3.9M shares
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$67.9M +1.9M shares	$71.3M 2.0M shares
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$65.3M +1.9M shares	$288.3M 8.2M shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$36.9M +1.1M shares	$116.0M 3.3M shares
S Squarepoint Ops LLC Hedge Fund•Quant	+$36.7M +1.0M shares	$101.5M 2.9M shares
Susquehanna Portfolio Strategies, LLC Private Equity	+$30.3M +864.2K shares	$31.3M 891.4K shares
WELLINGTON MANAGEMENT CO LLP Long Only Manager	+$29.9M +853.9K shares	$34.2M 975.1K shares
H HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND Institution	+$28.0M +799.5K shares	$28.9M 825.1K shares

Biggest Sellers

Institution	Net Sold	Current Position
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	−$118.0M −3.4M shares	$63.0M 1.8M shares
BANK OF AMERICA CORP /DE/ Institution	−$97.7M −2.8M shares	$205.3M 5.9M shares
STATE STREET CORP Institution	−$63.9M −1.8M shares	$1.2B 35.3M shares
Sourcerock Group LLC Hedge Fund•Long/Short	−$55.7M −1.8M shares	Sold Off 0 shares
HITE Hedge Asset Management LLC Hedge Fund•Long/Short	−$43.1M −1.4M shares	Sold Off 0 shares
UBS Group AG Institution	−$42.4M −1.2M shares	$160.7M 4.6M shares
PRUDENTIAL FINANCIAL INC Institution	−$37.7M −1.1M shares	$15.2M 432.4K shares
A Aventail Capital Group, LP Hedge Fund•Long/Short	−$35.5M −1.0M shares	$19.1M 544.8K shares
C CANADA PENSION PLAN INVESTMENT BOARD Institution	−$33.1M −943.8K shares	$5.6M 160.5K shares
Smead Capital Management, Inc. Long Only Manager	−$32.3M −921.8K shares	$51.8M 1.5M shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited DVN in Q3 2025

New Positions: 38
New Value: $13.7M
Exited Positions: 105
Exited Value: $195.1M

New Positions

Institution	Position Value
Weiss Asset Management LP Hedge Fund•Multi-Strategy	$6.3M 181.1K shares
Board of the Pension Protection Fund RIA/Wealth	$876.5K 25.0K shares
Q Quantessence Capital LLC Hedge Fund•Quant	$756.9K 21.6K shares
U United Capital Management of KS, Inc. Institution	$701.2K 20.0K shares
Caerus Investment Advisors, LLC Venture Capital	$623.3K 17.8K shares
T TEMA ETFS LLC Institution	$465.8K 13.3K shares
W WoodTrust Financial Corp Institution	$464.5K 13.3K shares
True North Advisors, LLC RIA/Wealth	$453.0K 12.9K shares
Groupe la Francaise Fund of Funds	$441.6K 14.6K shares
LEIGH BALDWIN & CO., LLC RIA/Wealth	$356.9K 11.1K shares

Exited Positions

Institution	Previous Position
Sourcerock Group LLC Hedge Fund•Long/Short	$55.7M 1.8M shares
HITE Hedge Asset Management LLC Hedge Fund•Long/Short	$43.1M 1.4M shares
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	$20.9M 658.1K shares
Kingstone Capital Partners Texas, LLC RIA/Wealth	$7.1M 221.7K shares
A AXA Institution	$6.7M 211.3K shares
G Green Square Asset Management, LLC Institution	$5.4M 171.3K shares
E Estate Counselors, LLC Institution	$3.6M 113.2K shares
Holocene Advisors, LP Hedge Fund•Long/Short	$3.5M 109.7K shares
V Virtu Financial LLC Institution	$3.3M 104.4K shares
A AGF MANAGEMENT LTD Institution	$3.1M 96.9K shares

Options Activity

Institutions with the largest Call and Put options positions in DVN as of Q3 2025

Call Positions: 42
Call Value: $513.1M
Put Positions: 38
Put Value: $609.2M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$116.0M 33.1K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$66.4M 18.9K contracts
P PEAK6 LLC Institution	$40.9M 11.7K contracts
Walleye Trading LLC RIA/Wealth	$29.3M 8.4K contracts
S Squarepoint Ops LLC Hedge Fund•Quant	$27.4M 7.8K contracts
J JANE STREET GROUP, LLC Institution	$27.2M 7.8K contracts
GOLDMAN SACHS GROUP INC Institution	$21.7M 6.2K contracts
CAPITAL FUND MANAGEMENT S.A. Hedge Fund•Quant Macro	$19.6M 5.6K contracts
T Twin Tree Management, LP Hedge Fund•Vol Arbitrage	$17.6M 5.0K contracts
UBS Group AG Institution	$16.8M 4.8K contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$111.8M 31.9K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$84.1M 24.0K contracts
GOLDMAN SACHS GROUP INC Institution	$50.8M 14.5K contracts
D D. E. Shaw & Co., Inc. Institution	$50.6M 14.4K contracts
UBS Group AG Institution	$41.5M 11.8K contracts
J JANE STREET GROUP, LLC Institution	$36.3M 10.4K contracts
B BNP PARIBAS ARBITRAGE, SA Institution	$32.9M 93.8 contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$32.1M 9.2K contracts
CAPITAL FUND MANAGEMENT S.A. Hedge Fund•Quant Macro	$24.8M 7.1K contracts
P PEAK6 LLC Institution	$24.1M 6.9K contracts

Most Committed Institutions

Institutions with DVN as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
E EnCap Energy Capital Fund X, L.P. Institution	-	100.00% $207.0M	0.93% 5.9M shares	Q3 2024 Held for 1y 2m	$207.0M
E EnCap Partners GP, LLC Institution	-	70.21% $366.2M	1.65% 10.4M shares	Q3 2024 Held for 1y 2m	$521.6M
Kimmeridge Energy Management Company, LLC Private Equity	Noam (Nmn) Lockshin Managing Partner	49.59% $198.3M	0.89% 5.7M shares	Q2 2025 Held for 5 months	$399.8M
E EnCap Energy Capital Fund XI, L.P. Institution	-	39.05% $413.9M	1.86% 11.8M shares	Q3 2024 Held for 1y 2m	$1.1B
Nepsis Capital Management, Inc. RIA/Wealth	Mark William Pearson President	5.23% $16.5M	0.07% 470.6K shares	Q3 2020 Held for 5y 2m	$315.3M
GoodHaven Capital Management, LLC Hedge Fund•Value	Larry Steven Pitkowsky Managing Partner	5.05% $15.7M	0.07% 447.0K shares	Q1 2021 Held for 4y 8m	$310.6M
S SIR Capital Management, L.P. Hedge Fund•Long/Short	Mirco Ronald Elias CFO	4.59% $51.2M	0.23% 1.5M shares	Q4 2024 Held for 11 months	$1.1B
Eliot Finkel Investment Counsel, LLC RIA/Wealth	Eliot Michelow Finkel Managing Partner	2.82% $4.7M	0.02% 133.7K shares	Q4 2024 Held for 11 months	$166.4M
S SOUTHPORT MANAGEMENT, L.L.C. Institution	-	2.51% $607.2K	0.00% 17.3K shares	Q1 2021 Held for 4y 8m	$24.2M
KEN ROBERTS INVESTMENT MANAGEMENT INC RIA/Wealth	Bryn Douglas Harman CEO	2.46% $3.8M	0.02% 108.4K shares	Q1 2021 Held for 4y 8m	$154.4M

Hedge Fund Spotlight

Discover hedge funds investing in DVN

Engineers Gate Manager LP

Hedge Fund • Quant

Portfolio ManagerRobert Gregory Eisner

Portfolio Value: $8.8B
Positions: 2,112
Last Reported: Q3 2025

Sector Allocation

Position in Devon Energy

Market Value: $16.4M
Shares Held: 467.1K
Portfolio Weight: 0.19%
Owned Since: 2023-Q1

Top Holding	Sector	Market Value	Weight
1 Invesco QQQ Trust QQQ	ETF ETF	$155.2M	1.77%
2 SPDR S&P 500 ETF Trust SPY	ETF ETF	$115.3M	1.32%
3 Sabra Healthcare SBRA	REIT - Healthcare Facilities Real Estate	$112.9M	1.29%