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National Fuel Gas
NFG

573 hedge funds and large institutions have $5.56B invested in National Fuel Gas in 2025 Q1 according to their latest regulatory filings, with 132 funds opening new positions, 176 increasing their positions, 173 reducing their positions, and 48 closing their positions.

New
Increased
Maintained
Reduced
Closed

175% more first-time investments, than exits

New positions opened: 132 | Existing positions closed: 48

57% more funds holding in top 10

Funds holding in top 10: 7 → 11 (+4)

33% more capital invested

Capital invested by funds: $4.17B → $5.56B (+$1.38B)

16% more funds holding

Funds holding: 492 → 573 (+81)

1.99% more ownership

Funds ownership: 75.46% → 77.45% (+2%)

2% more repeat investments, than reductions

Existing positions increased: 176 | Existing positions reduced: 173

6% less call options, than puts

Call options by funds: $6.36M | Put options by funds: $6.75M

Holders
573
Holders Change
+81
Holders Change %
+16.46%
% of All Funds
7.68%
Holding in Top 10
11
Holding in Top 10 Change
+4
Holding in Top 10 Change %
+57.14%
% of All Funds
0.15%
New
132
Increased
176
Reduced
173
Closed
48
Calls
$6.36M
Puts
$6.75M
Net Calls
-$388K
Net Calls Change
-$19.3M

Top Buyers

1
LSV Asset Management
LSV Asset Management
Illinois
+$35.4M
2
Invesco
Invesco
Georgia
+$33.1M
3
Mackenzie Financial
Mackenzie Financial
Ontario, Canada
+$25.6M
4
JAM
Jupiter Asset Management
United Kingdom
+$19M
5
Barclays
Barclays
United Kingdom
+$14.5M

Top Sellers

1
TSW
Thompson Siegel & Walmsley
Virginia
-$51.8M
2
Victory Capital Management
Victory Capital Management
Texas
-$41.8M
3
Geode Capital Management
Geode Capital Management
Massachusetts
-$36.7M
4
Vanguard Group
Vanguard Group
Pennsylvania
-$30.7M
5
YCM
Yaupon Capital Management
New York
-$24M
Name Holding Trade Value Shares
Change 		Change in
Stake
Wellington Management Group
101
Wellington Management Group
Massachusetts
$6.19M -$4.75M -66,104 -46%
PNC Financial Services Group
102
PNC Financial Services Group
Pennsylvania
$5.96M -$361K -5,022 -6%
Manulife (Manufacturers Life Insurance)
103
Manulife (Manufacturers Life Insurance)
Ontario, Canada
$5.87M -$672K -9,346 -11%
EGM
104
Engineers Gate Manager
New York
$5.87M +$5.33M +74,102 New
Squarepoint
105
Squarepoint
New York
$5.86M -$3.54M -49,255 -40%
Axa
106
Axa
France
$5.83M +$768K +10,681 +17%
American Century Companies
107
American Century Companies
Missouri
$5.81M +$2.21M +30,694 +72%
Arrowstreet Capital
108
Arrowstreet Capital
Massachusetts
$5.74M +$446K +6,206 +9%
Neuberger Berman Group
109
Neuberger Berman Group
New York
$5.68M +$4.75K +66 +0.1%
PCM
110
Pinnbrook Capital Management
New York
$5.58M +$5.07M +70,494 New
Carson Wealth (CWM LLC)
111
Carson Wealth (CWM LLC)
Nebraska
$5.37M +$5.54K +77 +0.1%
DFCM
112
Dark Forest Capital Management
Puerto Rico
$5.21M +$4.46M +61,983 +1,652%
Qube Research & Technologies (QRT)
113
Qube Research & Technologies (QRT)
United Kingdom
$4.97M -$2.49M -34,657 -36%
Baird Financial Group
114
Baird Financial Group
Wisconsin
$4.94M -$548K -7,626 -11%
BFG
115
Bleakley Financial Group
New Jersey
$4.85M -$4.1K -57 -0.1%
MFFIA
116
McIntyre, Freedman & Flynn Investment Advisers
Massachusetts
$4.84M -$10.6K -148 -0.2%
CCIA
117
Campbell & Co Investment Adviser
Maryland
$4.84M +$4.39M +61,108 New
FM
118
Foster & Motley
Ohio
$4.78M +$1.56M +21,673 +56%
Robeco Institutional Asset Management
119
Robeco Institutional Asset Management
Netherlands
$4.68M +$2.17M +30,209 +104%
State of Wisconsin Investment Board
120
State of Wisconsin Investment Board
Wisconsin
$4.58M -$59.3K -825 -1%
Natixis Advisors
121
Natixis Advisors
Massachusetts
$4.51M +$155K +2,151 +4%
HCM
122
Huber Capital Management
California
$4.47M – – –
SDIC
123
South Dakota Investment Council
South Dakota
$4.46M -$1.75M -24,336 -30%
Canada Life
124
Canada Life
Manitoba, Canada
$4.44M -$515K -7,159 -11%
EI
125
EAM Investors
California
$4.37M +$3.97M +55,155 New
3 4
5
6 7

NFG Hedge Fund Activity: Q1 2025 in Review

573 of the 7,457 institutional investors tracked by Wall St. Rank reported a position in National Fuel Gas (NFG) for Q1 2025, worth a combined $5.56B — up 33% from $4.17B a quarter earlier.

Buyers outnumbered sellers: 132 funds opened new NFG positions and 48 closed out — a net gain of 84 holders — while 176 added to existing stakes and 173 trimmed.

The largest buyer was LSV Asset Management, adding an estimated $35.4M. The largest seller was Thompson Siegel & Walmsley, cutting an estimated $51.8M.

  • 573 institutional investors held National Fuel Gas (NFG) as of Q1 2025, up from 492 in Q4 2024.
  • Funds reported $5.56B of National Fuel Gas stock for Q1 2025, up 33% quarter-over-quarter.
  • 132 funds opened new National Fuel Gas positions in Q1 2025 and 48 closed out, a net change of +84 holders.
  • The largest National Fuel Gas buyer in Q1 2025 was LSV Asset Management, an estimated $35.4M added.
  • The largest National Fuel Gas seller in Q1 2025 was Thompson Siegel & Walmsley, an estimated $51.8M sold.

Based on aggregated 13F filings for Q1 2025.