Billionaire Howard Marks’ Top 10 Stock Picks

2. Expand Energy Corporation (NASDAQ:EXE)

Oaktree Capital Management’s Stake Value: $565.13 million

Number of Hedge Fund Holders: N/A

Expand Energy Corporation (NASDAQ:EXE) is an independent exploration and production company. It acquires, explores, and develops properties to produce oil, natural gas, and natural gas liquids. While the stock was up by more than 41% in 2024, it remains one of billionaire Howard Marks’ top stock picks in the energy sector.

As one of the largest natural gas producers in the US, analysts at TD Cowen expect the company to be one of the biggest beneficiaries of gas pricing exceeding the measure of incentive economics. Likewise, Expand Energy Corporation (NASDAQ:EXE) is well poised to benefit from substantial exposure to the growing demand for natural gas, which is being driven by advancements in LNG, electrification, and AI/data centres. Expand Energy’s competitive edge in the sector stems from its strategic location in the Haynesville and Appalachia basins.

Because of its close proximity to the expanding Gulf Coast LNG export capacity, Expand Energy Corporation’s (NASDAQ:EXE) growth and long-term prospects remain solid amid growing energy needs in the US. In addition, the company has affirmed its commitment to returning value to shareholders by offering substantial returns through share buyback programs. While offering an annual dividend of $2.44 per share, the stock also yields 2.16%.