Liberty Mutual Foundation (NYSE: CRGY) discloses 36.8M Crescent Energy stake

Rhea-AI Filing Summary

Liberty Mutual Foundation Inc. filed an initial ownership report showing a significant stake in Crescent Energy Co. As of the event date 12/18/2025, the foundation beneficially owned 36,813,628 shares of Crescent’s Class A common stock in direct form. This filing reflects the foundation’s status as a director of Crescent Energy.

According to the footnote, these shares were acquired from PT Independence Energy Holdings LLC through Liberty Energy Holdings, LLC and Liberty Mutual Insurance Company. Liberty Mutual Foundation Inc. may be deemed to beneficially own remaining shares held by Liberty Energy Holdings, LLC due to common control, but it states it has no pecuniary (economic) interest in those remaining shares.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Liberty Mutual Foundation Inc.

(Last) (First) (Middle)

C/O LIBERTY MUTUAL FOUNDATION

175 BERKELEY STREET

(Street)

BOSTON MA 02116

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
12/18/2025

3. Issuer Name and Ticker or Trading Symbol
Crescent Energy Co [ CRGY ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Class A Common Stock	36,813,628(1)	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The shares were acquired from PT Independence Energy Holdings LLC through Liberty Energy Holdings, LLC and Liberty Mutual Insurance Company. Liberty Mutual Foundation Inc. may be deemed to beneficially own the remaining shares held by Liberty Energy Holdings, LLC due to their common control but has no pecuniary interest in such shares.

	LIBERTY MUTUAL FOUNDATION INC., By: /s/ Vlad Barbalat, Name: Vlad Barbalat, Title: Executive Vice President	12/18/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
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FAQ

Who filed this Form 3 related to Crescent Energy Co (CRGY)?

The filing was made by Liberty Mutual Foundation Inc., which reported its beneficial ownership of Crescent Energy Co Class A common stock.

How many Crescent Energy Co (CRGY) shares does Liberty Mutual Foundation Inc. report owning?

Liberty Mutual Foundation Inc. reports beneficial ownership of 36,813,628 shares of Crescent Energy Co Class A common stock, held in direct form.

What is Liberty Mutual Foundation Inc.’s relationship to Crescent Energy Co (CRGY)?

Liberty Mutual Foundation Inc. is identified as a director of Crescent Energy Co in the filing.

How were the Crescent Energy Co (CRGY) shares acquired according to the filing?

The filing states the shares were acquired from PT Independence Energy Holdings LLC through Liberty Energy Holdings, LLC and Liberty Mutual Insurance Company.

Does Liberty Mutual Foundation Inc. claim economic interest in all Crescent Energy Co shares mentioned?

The filing explains Liberty Mutual Foundation Inc. may be deemed to beneficially own remaining shares held by Liberty Energy Holdings, LLC due to common control but has no pecuniary interest in those remaining shares.

What is the event date for this Crescent Energy Co (CRGY) ownership report?

The date of the event requiring the statement is listed as 12/18/2025.