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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
Vanguard Group
1
Vanguard Group
Pennsylvania
$996M -$30.7M -427,159 -3%
BlackRock
2
BlackRock
New York
$682M -$2.26M -31,457 -0.4%
State Street
3
State Street
Massachusetts
$311M -$12.4M -172,401 -4%
GF
4
Gabelli Funds
New York
$194M -$4.79M -66,600 -3%
EIP
5
Energy Income Partners
Connecticut
$178M -$10.1M -140,239 -6%
LSV Asset Management
6
LSV Asset Management
Illinois
$171M +$35.4M +491,890 +30%
Victory Capital Management
7
Victory Capital Management
Texas
$159M -$41.8M -581,143 -22%
Geode Capital Management
8
Geode Capital Management
Massachusetts
$134M -$36.7M -510,802 -23%
GI
9
GAMCO Investors
Connecticut
$118M +$3.47M +48,202 +3%
Morgan Stanley
10
Morgan Stanley
New York
$99.4M -$7.13M -99,074 -7%
Northern Trust
11
Northern Trust
Illinois
$93M +$11.2M +155,711 +15%
EIC
12
Equity Investment Corp
Georgia
$92.4M -$4.82M -67,053 -5%
Bank of New York Mellon
13
Bank of New York Mellon
New York
$87.5M +$1.61M +22,320 +2%
Dimensional Fund Advisors
14
Dimensional Fund Advisors
Texas
$84.2M +$5.27M +73,277 +7%
Norges Bank
15
Norges Bank
Norway
$83.4M -$4.11M -57,109 -5%
Invesco
16
Invesco
Georgia
$75.3M +$33.1M +460,100 +94%
Charles Schwab
17
Charles Schwab
California
$71.6M -$1.2M -16,663 -2%
AQR Capital Management
18
AQR Capital Management
Connecticut
$70.8M +$4.29M +59,667 +7%
First Trust Advisors
19
First Trust Advisors
Illinois
$68.7M -$23.1M -321,751 -27%
Mackenzie Financial
20
Mackenzie Financial
Ontario, Canada
$56.7M +$25.6M +355,800 +99%
Ameriprise
21
Ameriprise
Minnesota
$54.4M +$9.6M +133,555 +24%
Bank of America
22
Bank of America
North Carolina
$39.7M +$4.38M +60,863 +14%
JP Morgan Chase
23
JP Morgan Chase
New York
$37M +$352K +4,899 +1%
Allspring Global Investments
24
Allspring Global Investments
North Carolina
$36.6M +$12.7M +176,290 +63%
ProShare Advisors
25
ProShare Advisors
Maryland
$34.9M -$6.82M -94,774 -18%
1
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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.