NATIONAL FUEL GAS CO NFG
COM · Common Stock · CUSIP 636180101 · ISIN US6361801011
- SectorUtilities
- IndustryNatural Gas Distribution
- HeadquartersWilliamsville, NY
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($133.0m this quarter). Holder counts are more reliable. Shares outstanding: 95.0m as of 2026-04-29, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $93.96. Options: 5 managers hold calls ($7.3m notional), 5 hold puts ($2.6m).
Trends to Q1 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 456 |
| Q4 2022 | 474 |
| Q1 2023 | 434 |
| Q2 2023 | 417 |
| Q3 2023 | 433 |
| Q4 2023 | 426 |
| Q1 2024 | 422 |
| Q2 2024 | 452 |
| Q3 2024 | 480 |
| Q4 2024 | 492 |
| Q1 2025 | 575 |
| Q2 2025 | 585 |
| Q3 2025 | 620 |
| Q4 2025 | 621 |
| Q1 2026 | 659 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q2 2024 | 219 | 170 |
| Q3 2024 | 219 | 193 |
| Q4 2024 | 223 | 201 |
| Q1 2025 | 301 | 219 |
| Q2 2025 | 281 | 265 |
| Q3 2025 | 318 | 232 |
| Q4 2025 | 275 | 291 |
| Q1 2026 | 333 | 258 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2025 | $3.9m | $11.5m | 2.93 |
| Q3 2025 | $39.2m | $8.0m | 0.20 |
| Q4 2025 | $22.7m | $1.6m | 0.07 |
| Q1 2026 | $7.3m | $2.6m | 0.36 |
Biggest buyers
| PRICE T ROWE ASSOCIATES INC /MD/ | Added | +1.3m |
| VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P. | New | +679.7k |
| LSV ASSET MANAGEMENT | Added | +431.7k |
| TWO SIGMA INVESTMENTS, LP | Added | +380.3k |
| RENAISSANCE TECHNOLOGIES LLC | Added | +345.9k |
| BlackRock, Inc. | Added | +325.1k |
| REAVES W H & CO INC | New | +314.5k |
| COHEN & STEERS, INC. | Added | +286.0k |
| FIRST TRUST ADVISORS LP | Added | +282.1k |
| 59 North Capital Management, LP | New | +174.1k |
Biggest sellers
| Clark Capital Management Group, Inc. | Reduced | -605.2k |
| AQR CAPITAL MANAGEMENT LLC | Reduced | -464.0k |
| PRUDENTIAL FINANCIAL INC | Reduced | -430.6k |
| MACKENZIE FINANCIAL CORP | Reduced | -387.0k |
| Invesco Ltd. | Reduced | -372.6k |
| Aventail Capital Group, LP | Reduced | -370.0k |
| Qube Research & Technologies Ltd | Reduced | -292.9k |
| Squarepoint Ops LLC | Reduced | -203.0k |
| LOS ANGELES CAPITAL MANAGEMENT LLC | Reduced | -190.8k |
| ROYAL BANK OF CANADA | Reduced | -170.6k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $3.5m37.4k shares |
| JANE STREET GROUP, LLC | Added | $1.4m14.7k shares |
| IMC-Chicago, LLC | New | $1.0m11.1k shares |
| CITADEL ADVISORS LLC | Reduced | $977.2k10.4k shares |
| SIMPLEX TRADING, LLC | Reduced | $394.6k4.2k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $1.2m12.8k shares |
| CITADEL ADVISORS LLC | Added | $902.0k9.6k shares |
| IMC-Chicago, LLC | New | $244.3k2.6k shares |
| JANE STREET GROUP, LLC | Added | $244.3k2.6k shares |
| SIMPLEX TRADING, LLC | Reduced | $28.2k300 shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| VANGUARD PORTFOLIO MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 8.2% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-30 | 5.2% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD PORTFOLIO MANAGEMENT LLC)
Insider purchases and sales in Q1 2026
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q2 2024 | 0 | — | 1 | $348.6k | — |
| Q3 2024 | 0 | — | 2 | $552.1k | — |
| Q4 2024 | 0 | — | 2 | $1.8m | — |
| Q1 2025 | 0 | — | 0 | — | — |
| Q2 2025 | 0 | — | 0 | — | — |
| Q3 2025 | 0 | — | 0 | — | — |
| Q4 2025 | 0 | — | 0 | — | — |
| Q1 2026 | 0 | — | 0 | — | — |
None reported in Q1 2026.
Holders, Q1 2026
| Manager | Shares | Change |
|---|---|---|
| BlackRock, Inc. 0.02% of their portfolio | 9.2m $860.3m | Added +325.1k |
| VANGUARD PORTFOLIO MANAGEMENT LLC 0.04% of their portfolio | 7.8m $735.1m | First filing |
| VANGUARD CAPITAL MANAGEMENT LLC 0.01% of their portfolio | 4.2m $399.0m | First filing |
| STATE STREET CORP 0.01% of their portfolio | 3.9m $365.7m | Reduced -80.6k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.03% of their portfolio | 2.9m $269.5m | Added +1.3m |
| Energy Income Partners, LLC 3.92% of their portfolio | 2.6m $243.3m | Added +28.8k |
| GABELLI FUNDS LLC 1.48% of their portfolio | 2.3m $219.1m | Reduced -23.4k |
| LSV ASSET MANAGEMENT 0.45% of their portfolio | 2.2m $209.6m | Added +431.7k |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 1.9m $182.7m | Added +127.3k |
| GAMCO INVESTORS, INC. ET AL 1.27% of their portfolio | 1.4m $128.7m | Reduced -76.3k |
| MORGAN STANLEY 0.01% of their portfolio | 1.2m $116.3m | Added +43.7k |
| VICTORY CAPITAL MANAGEMENT INC 0.07% of their portfolio | 1.2m $115.0m | Reduced -37.0k |
| AQR CAPITAL MANAGEMENT LLC 0.05% of their portfolio | 1.2m $112.9m | Reduced -464.0k |
| DIMENSIONAL FUND ADVISORS LP 0.02% of their portfolio | 1.2m $110.7m | Added +42.1k |
| FIRST TRUST ADVISORS LP 0.07% of their portfolio | 1.1m $100.8m | Added +282.1k |
| Yaupon Capital Management LP 4.84% of their portfolio | 1.0m $98.0m | Reduced -62.7k |
| EQUITY INVESTMENT CORP 1.88% of their portfolio | 1.0m $96.2m | Reduced -3.8k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 977.3k $91.8m | Added +64.9k |
| Bank of New York Mellon Corp 0.02% of their portfolio | 947.6k $89.0m | Added +24.0k |
| NORTHERN TRUST CORP 0.01% of their portfolio | 935.3k $87.9m | Reduced -67.2k |
| Invesco Ltd. 0.01% of their portfolio | 886.0k $83.3m | Reduced -372.6k |
| FMR LLC 0.00% of their portfolio | 812.1k $76.3m | Added +8.5k |
| Aventail Capital Group, LP 3.27% of their portfolio | 720.4k $67.7m | Reduced -370.0k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 701.5k $65.9m | Added +79.1k |
| VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P. 0.64% of their portfolio | 679.7k $63.9m | New |
| AMERIPRISE FINANCIAL INC 0.01% of their portfolio | 614.2k $58.3m | Reduced -92.1k |
| VANGUARD FIDUCIARY TRUST CO 0.01% of their portfolio | 589.0k $55.3m | First filing |
| Blackstone Inc. 0.23% of their portfolio | 586.6k $55.1m | Not comparable |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 418.9k $39.8m | Reduced -19.2k |
| JUPITER ASSET MANAGEMENT LTD 0.21% of their portfolio | 409.5k $38.5m | Reduced -127.3k |
| Gotham Asset Management, LLC 0.12% of their portfolio | 399.7k $37.6m | Reduced -97.1k |
| TWO SIGMA INVESTMENTS, LP 0.03% of their portfolio | 394.3k $37.0m | Added +380.3k |
| MANAGED ASSET PORTFOLIOS, LLC 4.37% of their portfolio | 387.8k $36.4m | Added +7.0k |
| Allspring Global Investments Holdings, LLC 0.06% of their portfolio | 372.4k $34.6m | Added +56.6k |
| RENAISSANCE TECHNOLOGIES LLC 0.05% of their portfolio | 367.2k $34.5m | Added +345.9k |
| UBS Group AG 0.01% of their portfolio | 353.2k $33.2m | Added +97.6k |
| SEI INVESTMENTS CO 0.03% of their portfolio | 340.0k $31.9m | Added +7.0k |
| WESTWOOD HOLDINGS GROUP INC 0.23% of their portfolio | 336.1k $31.6m | Reduced -30.5k |
| Qube Research & Technologies Ltd 0.04% of their portfolio | 331.8k $31.2m | Reduced -292.9k |
| VIRGINIA RETIREMENT SYSTEMS ET Al 0.22% of their portfolio | 322.0k $30.3m | Added +800 |
| TOCQUEVILLE ASSET MANAGEMENT L.P. 0.44% of their portfolio | 318.9k $30.0m | Added +5.1k |
| REAVES W H & CO INC 0.49% of their portfolio | 314.5k $29.5m | New |
| ProShare Advisors LLC 0.04% of their portfolio | 312.3k $29.3m | Reduced -89.4k |
| COHEN & STEERS, INC. 0.05% of their portfolio | 310.2k $29.1m | Added +286.0k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.01% of their portfolio | 288.0k $27.1m | Added +118.3k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 280.7k $26.4m | Reduced -170.6k |
| Arbejdsmarkedets Tillaegspension 0.64% of their portfolio | 273.4k $25.7m | Reduced -10.6k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 252.5k $23.7m | Added +164.4k |
| RHUMBLINE ADVISERS 0.02% of their portfolio | 251.9k $23.7m | Added +21.5k |
| PANAGORA ASSET MANAGEMENT INC 0.09% of their portfolio | 244.5k $23.0m | Reduced -66.3k |
| VALLEY WEALTH MANAGERS, INC. 1.48% of their portfolio | 244.1k $22.9m | Added +1.1k |
| RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio | 240.3k $22.6m | Added +89.2k |
| EXCHANGE TRADED CONCEPTS, LLC 0.17% of their portfolio | 239.7k $22.5m | Added +31.0k |
| Retirement Systems of Alabama 0.07% of their portfolio | 238.1k $22.4m | Added +8.0k |
| Man Group plc 0.04% of their portfolio | 227.7k $21.4m | Added +76.8k |
| California Public Employees Retirement System 0.01% of their portfolio | 224.4k $21.1m | Added +7.0k |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 212.1k $19.9m | Added +17.7k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.01% of their portfolio | 203.3k $19.1m | Reduced -93.0k |
| NEUBERGER BERMAN GROUP LLC 0.01% of their portfolio | 202.8k $19.1m | Added +124.6k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 194.4k $18.3m | Reduced -472 |
| NATIXIS ADVISORS, LLC 0.03% of their portfolio | 193.1k $18.1m | Added +131.9k |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 191.2k $18.0m | Reduced -52.0k |
| Covalis Capital LLP 1.05% of their portfolio | 182.2k $17.1m | Added +84.7k |
| Swiss National Bank 0.01% of their portfolio | 178.6k $16.8m | Added +9.3k |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 175.5k $16.5m | Reduced -70.4k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 174.2k $16.4m | Added +4.7k |
| 59 North Capital Management, LP 0.49% of their portfolio | 174.1k $16.4m | New |
| Connor, Clark & Lunn Investment Management Ltd. 0.04% of their portfolio | 169.8k $16.0m | Added +30.2k |
| VOYA INVESTMENT MANAGEMENT LLC 0.02% of their portfolio | 168.1k $15.8m | Added +87 |
| Nuveen, LLC 0.00% of their portfolio | 158.1k $14.9m | Added +10.6k |
| Quantinno Capital Management LP 0.02% of their portfolio | 153.1k $14.4m | Added +58.5k |
| Aptus Capital Advisors, LLC 0.11% of their portfolio | 134.0k $12.6m | Added +1.2k |
| LPL Financial LLC 0.00% of their portfolio | 131.7k $12.4m | Added +2.6k |
| Legal & General Group Plc 0.00% of their portfolio | 129.6k $12.2m | Reduced -11.5k |
| Brookfield Corp /ON/ 0.02% of their portfolio | 124.8k $11.7m | Reduced -2.5k |
| Knights of Columbus Asset Advisors LLC 0.65% of their portfolio | 122.0k $11.5m | Reduced -10.7k |
| Squarepoint Ops LLC 0.02% of their portfolio | 121.6k $11.4m | Reduced -203.0k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 117.8k $9.4m | Reduced -1.5k |
| Allianz Asset Management GmbH 0.01% of their portfolio | 110.1k $10.3m | Reduced -24.5k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.01% of their portfolio | 110.0k $10.3m | Added +2.0k |
| KAYNE ANDERSON CAPITAL ADVISORS LP 0.19% of their portfolio | 106.3k $10.0m | Added +11.8k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio | 106.2k $10.0m | Added +24.3k |
| State of Alaska, Department of Revenue 0.11% of their portfolio | 106.1k $10.0m | Added +400 |
| PRUDENTIAL FINANCIAL INC 0.01% of their portfolio | 101.7k $9.6m | Reduced -430.6k |
| Cardinal Capital Management 1.23% of their portfolio | 101.3k $9.6m | Added +901 |
| SCHRODER INVESTMENT MANAGEMENT GROUP 0.01% of their portfolio | 101.2k $9.5m | Added +340 |
| THOMPSON SIEGEL & WALMSLEY LLC 0.16% of their portfolio | 97.7k $9.2m | Reduced -28.3k |
| KWMG, LLC 0.76% of their portfolio | 97.2k $9.1m | Added +1.4k |
| Engineers Gate Manager LP 0.11% of their portfolio | 96.2k $9.0m | Reduced -4.7k |
| IBEX WEALTH ADVISORS 0.82% of their portfolio | 94.3k $8.9m | Added +6.7k |
| NORDEA INVESTMENT MANAGEMENT AB 0.01% of their portfolio | 93.9k $8.9m | Reduced -4.0k |
| OPPENHEIMER ASSET MANAGEMENT INC. 0.10% of their portfolio | 92.0k $8.6m | Reduced -946 |
| Schonfeld Strategic Advisors LLC 0.07% of their portfolio | 91.5k $8.6m | New |
| COMMONWEALTH EQUITY SERVICES, LLC 0.01% of their portfolio | 91.4k $8.6m | Reduced -6.0k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.02% of their portfolio | 88.8k $8.3m | Reduced -3.3k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.02% of their portfolio | 87.6k $8.2m | Reduced -19.3k |
| Rodgers Brothers Inc. 0.91% of their portfolio | 83.5k $7.8m | Reduced -2.0k |
| GREAT LAKES ADVISORS, LLC 0.06% of their portfolio | 82.5k $7.8m | Reduced -16.1k |
| Ruffer LLP 0.32% of their portfolio | 82.4k $7.8m | New |
| FOSTER & MOTLEY INC 0.39% of their portfolio | 79.6k $7.5m | Added +4.9k |