National Fuel Gas
620 hedge funds and large institutions have $6.03B invested in National Fuel Gas in 2025 Q4 according to their latest regulatory filings, with 91 funds opening new positions, 213 increasing their positions, 218 reducing their positions, and 75 closing their positions.
952% more call options, than puts
Call options by funds: $16.7M | Put options by funds: $1.58M
21% more first-time investments, than exits
New positions opened: 91 | Existing positions closed: 75
6.77% more ownership
Funds ownership: 76.53% → 83.3% (+6.8%)
0% more funds holding
Funds holding: 620 → 620 (0)
2% less repeat investments, than reductions
Existing positions increased: 213 | Existing positions reduced: 218
6% less capital invested
Capital invested by funds: $6.39B → $6.03B (-$359M)
11% less funds holding in top 10
Funds holding in top 10: 9 → 8 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
T. Rowe Price Associates
Baltimore,
Maryland
|
+$113M |
| 2 |
YCM
Yaupon Capital Management
New York
|
+$76.4M |
| 3 |
Fidelity Investments
Boston,
Massachusetts
|
+$54.4M |
| 4 |
ACG
Aventail Capital Group
New York
|
+$53.7M |
| 5 |
Victory Capital Management
San Antonio,
Texas
|
+$45M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
AQR Capital Management
Greenwich,
Connecticut
|
-$38.9M |
| 2 |
Mackenzie Financial
Toronto Ontario,
Ontario, Canada
|
-$14.8M |
| 3 |
AG
Algert Global
San Francisco,
California
|
-$13.6M |
| 4 |
Voloridge Investment Management
Jupiter,
Florida
|
-$13.2M |
| 5 |
Renaissance Technologies
New York
|
-$10.7M |
NFG Hedge Fund Activity: Q4 2025 in Review
620 of the 8,267 institutional investors tracked by Wall St. Rank reported a position in National Fuel Gas (NFG) for Q4 2025, worth a combined $6.03B — down 5.6% from $6.39B a quarter earlier.
Buyers outnumbered sellers: 91 funds opened new NFG positions and 75 closed out — a net gain of 16 holders — while 213 added to existing stakes and 218 trimmed.
The largest buyer was T. Rowe Price Associates, adding an estimated $113M. The largest seller was AQR Capital Management, cutting an estimated $38.9M.
- 620 institutional investors held National Fuel Gas (NFG) as of Q4 2025, unchanged from Q3 2025.
- Funds reported $6.03B of National Fuel Gas stock for Q4 2025, down 5.6% quarter-over-quarter.
- 91 funds opened new National Fuel Gas positions in Q4 2025 and 75 closed out, a net change of +16 holders.
- The largest National Fuel Gas buyer in Q4 2025 was T. Rowe Price Associates, an estimated $113M added.
- The largest National Fuel Gas seller in Q4 2025 was AQR Capital Management, an estimated $38.9M sold.
Based on aggregated 13F filings for Q4 2025.