SCHEDULE: State Street Reports 3.5% Stake in Crescent Energy

State Street Corporation has disclosed a 3.5% beneficial ownership stake in Crescent Energy Co. common stock through its various investment advisory subsidiaries.

Summary

• State Street Corporation, acting as a parent holding company, reported beneficial ownership of 8,871,882 shares of Crescent Energy Co. common stock.
• This ownership represents 3.5% of Crescent Energy Co.'s total common stock class.
• The shares are held by several State Street subsidiaries, including SSGA Funds Management, Inc., State Street Global Advisors Europe Limited, State Street Global Advisors Limited, State Street Global Advisors Trust Company, and State Street Global Advisors, Ltd.
• State Street Corporation holds shared voting power over 8,688,969 shares and shared dispositive power over all 8,871,882 shares.
• The filing certifies that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of Crescent Energy Co.

Sentiment

Score: 6

Explanation: Neutral to slightly positive. The filing is a routine disclosure of a passive investment by a major institution. While not directly indicative of company performance, a large institutional holding can be seen as a vote of confidence. The future date for the event is a minor anomaly that does not significantly impact sentiment.

Positives

• A major institutional investor like State Street Corporation holding a significant stake can signal confidence in the company's long-term prospects.
• The passive nature of the investment, explicitly stating it is not for influencing control, suggests it is part of a broader, routine portfolio management strategy.

Negatives

• The reported 3.5% ownership is below the 5% threshold typically associated with new Schedule 13G filings for passive investors, indicating it is either a routine update or a reduction from a previously higher stake, though the filing does not specify a reduction.
• The 'Date of Event Which Requires Filing of this Statement' is listed as 06/30/2025, which is a future date relative to the filing date of 08/08/2025, potentially indicating a clerical error in the original document.

Future Outlook

This filing does not contain forward-looking statements or guidance regarding Crescent Energy Co.'s future performance or State Street Corporation's investment strategy beyond the current beneficial ownership disclosure.

Management Comments

• State Street Corporation certifies that the securities were acquired and are held in the ordinary course of business and not for the purpose of or with the effect of changing or influencing the control of Crescent Energy Co.

Industry Context

This filing reflects a routine disclosure by a major institutional asset manager, State Street Corporation, regarding its passive investment holdings in an energy sector company. Such filings are common and indicate the ongoing portfolio management activities of large investment firms, often as part of index-tracking or diversified portfolio strategies.

Comparison to Industry Standards

• As a Schedule 13G filing, this document primarily serves as a disclosure of beneficial ownership by a passive institutional investor. It does not provide performance metrics for Crescent Energy Co. that would allow for direct comparison to industry standards or specific comparable companies.
• The filing itself is standard for institutional reporting requirements under SEC regulations for beneficial ownership.

Stakeholder Impact

• Shareholders: Provides transparency on a significant institutional holder's stake, which can influence market perception and liquidity.
• Management: Awareness of a large, passive institutional investor on their shareholder register, which typically implies stability rather than activist pressure.

Next Steps

• State Street Corporation will continue to file updates to its beneficial ownership as required by SEC regulations, typically when its ownership percentage changes significantly or crosses certain thresholds.

Key Dates

Recommendation

This Schedule 13G filing is a routine disclosure of beneficial ownership by a passive institutional investor, State Street Corporation. It indicates a 3.5% stake in Crescent Energy Co. common stock. The filing does not contain any new financial performance data, strategic updates, or material events from Crescent Energy Co. itself that would warrant a change in investment recommendation. The investment is stated to be for ordinary course of business, not for control. Therefore, based solely on this filing, a 'hold' recommendation is appropriate as there's no new information to alter an existing investment thesis.

Keywords

Crescent Energy Co, State Street Corporation, Beneficial Ownership, SEC Filing, Schedule 13G, Institutional Investor, Common Stock, Energy Sector