Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

National Fuel Gas Co (NFG)

646 + Investors. Track Smart Money conviction in NFG. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +39
Streak
8Q ▲
Buyers last Q
56%

Smart Money Signals — NFG

Based on 651 hedge funds · latest filing: 2026 Q1 · updated quarterly

📈

Buying streak — 8 quarters in a row

last 6Q
For 8 consecutive quarters, more hedge funds added NFG than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
🏔️

At the ownership peak (100% of max)

100% of all-time peak
651 hedge funds hold NFG right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
📶

Steady growth — +14% more funds vs a year ago

fund count last 6Q
+81 new funds entered over the past year (+14% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟡

Slight buying edge — 56% buying

341 buying265 selling
Last quarter: 341 funds bought or added vs 265 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
📈

More new buyers each quarter (+9 vs last Q)

new funds entering per quarter
Funds opening a new NFG position: 72 → 88 → 92 → 101. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒

57% of holders stayed for 2+ years

■ 57% conviction (2yr+) ■ 24% medium ■ 19% new
370 out of 651 hedge funds have held NFG for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
📈

Growing discovery — still being found

138 → 72 → 88 → 92 → 101 new funds/Q
New funds entering each quarter: 72 → 88 → 92 → 101. A growing number of institutions are discovering NFG each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️

Deep conviction — 65% of holders stayed 2+ years

■ 65% veterans ■ 8% 1-2yr ■ 27% new
Of 656 current holders: 426 (65%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
✅

Strong quality — 32% AUM from major funds

32% from top-100 AUM funds
53 of 651 holders rank in the top 100 by AUM, accounting for 32% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
3.6
out of 10
Low Exit Risk
Exit risk score 3.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — NFG

In 2026 Q1, 341 hedge funds were net buyers of NFG (101 opened a new position, 240 added to an existing one), while 265 reduced or exited (203 trimmed, 62 sold completely) — a 56% buyer ratio, indicating a slight buying edge. This marks 8 consecutive quarters of net institutional buying — a persistent conviction signal. 32% of total institutional value in NFG is held by top-100 AUM funds, reflecting strong institutional quality. Net fund flow last quarter: +39 funds (more new holders than closures). Total institutional holders: 651.

Hedge Fund Ownership: NFG

How many hedge funds hold NFG — quarterly history vs. share price
Quarterly hedge fund ownership of NFG vs. share price

Market Analysis: NFG

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: NFG

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Is It Too Late to Buy National Fuel Gas Co (NFG) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much NFG has moved relative to its sector benchmark (XLE) since the 2026 Q1 13F filing. A stock that has barely outrun its sector is still a relatively fresh entry point — the fund's thesis has not yet been priced in by the broader market.

Since Quarter End March 31, 2026 · 76d ago
NFG
-17.5%
XLE
-6.1%

NFG outperformed XLE by -11.4% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 31d ago
NFG
-4.5%
XLE
-3.2%

Since the filing became public, NFG outperformed XLE by -1.3% .

Interpretation: The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference. Learn more →

Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

37 top-rated funds 10 high-conviction
Consensus
6.9
/ 10
breadth
×
Elite
4.1
/ 10
conviction
Hedge Fund Positioning: NFG
646 + Investors

Track Smart Money conviction in NFG. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 646 612 5.56%
13F Shares 75M 75M 0.54%
Total Value $6.44B $5.85B 10.14%
New Positions 99 92 +7
Increased Positions 239 211 +28
Closed Positions 65 89 -24
Reduced Positions 198 213 -15
Total Calls 3 8 -62.5%
Total Puts 3 5 -40.0%
PUT/CALL Ratio 1.0 0.62 Neutral

Statistics: NFG

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Institutional Holders (2026 Q1)

646 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in NFG. Verified SEC 13F-HR filings.

QUARTER:
Top 25 NFG holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Heights Point Management, LP 4.52% 51,880 $4.9M
2 Managed Asset Portfolios, LLC 4.37% 387,830 $36.4M
3 Energy Income Partners, LLC 3.92% 2,589,824 $243.3M
4 Aventail Capital Group, LP 3.25% 720,381 $67.7M
5 Barnett & Company, Inc. 3.22% 44,032 $4.1M
6 Mcintyre Freedman & Flynn Investment Advisers Inc 3.10% 58,241 $5.5M
7 Yaupon Capital Management LP 3.06% 1,043,272 $98.0M
8 Bernzott Capital Advisors 3.00% 66,590 $6.3M
9 Edmp, INC. 2.55% 33,507 $3.1M
10 Chase Investment Counsel Corp 1.92% 77,935 $7.3M
11 Equity Investment Corp 1.88% 1,023,528 $96.2M
12 Andrew Hill Investment Advisors, Inc. 1.88% 22,438 $2.1M
13 Icon Advisers Inc/Co 1.52% 70,028 $6.6M
14 Gabelli Funds LLC 1.48% 2,331,863 $219.1M
15 Valley Wealth Managers, INC. 1.48% 244,094 $22.9M
16 Gamco Investors, INC. Et Al 1.27% 1,369,326 $128.7M
17 Cardinal Capital Management 1.23% 101,277 $9.6M
18 Covalis Capital LLP 1.05% 182,217 $17.1M
19 Phocas Financial Corp. 1.02% 68,857 $6.5M
20 Teza Capital Management LLC 1.01% 2,943 $277K
21 Rodgers Brothers Inc. 0.91% 83,486 $7.8M
22 Ibex Wealth Advisors 0.82% 94,273 $8.9M
23 Huber Capital Management LLC 0.81% 55,900 $5.3M
24 J.M. Arbour, LLC 0.79% 8,765 $824K
25 Kwmg, LLC 0.76% 97,232 $9.1M
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — National Fuel Gas Co (NFG)

What does the Smart Money Trend signal show for NFG?

Buying streak — 8 quarters in a row: For 8 consecutive quarters, more hedge funds added NFG than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.

What is the institutional breadth score for NFG?

Slight buying edge — 56% buying: Last quarter: 341 funds bought or added vs 265 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.

What is the fund quality score for NFG holders?

Strong quality — 32% AUM from major funds: 53 of 651 holders rank in the top 100 by AUM, accounting for 32% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.

How long have hedge funds held NFG?

57% of holders stayed for 2+ years: 370 out of 651 hedge funds have held NFG for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Is it too late to buy National Fuel Gas Co (NFG) following the 2026 Q1 hedge fund 13F filings?

As of today, NFG has moved -4.5% since the 2026 Q1 13F filing date (May 15, 2026), compared to -3.2% for the XLE sector ETF — an outperformance of -1.3%. Since the quarter end (March 31, 2026), NFG has gained -17.5% vs -6.1% for XLE. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

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