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 652 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
652 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
+82 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

342 buying266 selling
Last quarter: 342 funds bought or added vs 266 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 (+10 vs last Q)

new funds entering per quarter
Funds opening a new NFG position: 73 → 88 → 92 → 102. 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 652 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 → 73 → 88 → 92 → 102 new funds/Q
New funds entering each quarter: 73 → 88 → 92 → 102. A growing number of institutions are discovering NFG each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️

Veteran-anchored — 65% veterans vs 28% newcomers

■ 65% veterans ■ 8% 1-2yr ■ 28% new
Entry-cohort mix of 657 holders: 426 (65%) are 2+ year veterans, 50 entered 1–2 years ago, and 181 (28%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆

Elite ownership — 45% AUM from top-100 funds

45% from top-100 AUM funds
53 of 651 holders are among the 100 largest funds by AUM, controlling 45% of total institutional value in NFG. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
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, 342 hedge funds were net buyers of NFG (102 opened a new position, 240 added to an existing one), while 266 reduced or exited (203 trimmed, 63 sold completely) — a 56% buyer ratio, indicating a slight buying edge. This marks 8 consecutive quarters of net institutional buying — a persistent conviction signal. 45% of total institutional value in NFG is held by top-100 AUM funds, reflecting elite-tier ownership quality. Net fund flow last quarter: +39 funds (more new holders than closures). Total institutional holders: 652.

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.

Loading signal freshness…
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
2026 Q2 Stats Unlock in 1 days 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

View More

Valuation Measures Data as of: --

Market Cap --
Enterprise Value --
Trailing P/E --
Forward P/E --
PEG Ratio (5yr expected) --
Price/Sales (ttm) --
Price/Book (mrq) --
Enterprise Value/Revenue --
Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

Profitability
Profit Margin --
Return on Assets (ttm) --
Return on Equity (ttm) --
Income Statement & Cash Flow
Revenue (ttm) --
Net Income Avi to Common (ttm) --
Diluted EPS (ttm) --
Total Cash (mrq) --
Total Debt/Equity (mrq) --
Levered Free Cash Flow (ttm) --

Institutional Holders (2026 Q2)

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:
2026 Q2 filings are still coming in. Only funds that have filed so far are shown — top holders may not have reported yet. Full 13F data typically settles by ~50 days after quarter-end.
Top 25 NFG holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Energy Income Partners, LLC 3.64% 2,995,843 $231.3M
2 Managed Asset Portfolios, LLC 3.47% 393,623 $30.4M
3 Aventail Capital Group, LP 3.19% 721,306 $55.7M
4 Yaupon Capital Management LP 2.37% 1,559,618 $120.4M
5 Barnett & Company, Inc. 2.36% 41,332 $3.2M
6 Sound Shore Management Inc /Ct/ 2.15% 902,778 $69.7M
7 Mcintyre Freedman & Flynn Investment Advisers Inc 2.11% 45,656 $3.5M
8 Edmp, INC. 2.08% 33,443 $2.6M
9 Bernzott Capital Advisors 1.99% 64,287 $5.0M
10 Equity Investment Corp 1.49% 1,012,957 $78.2M
11 Valley Wealth Managers, INC. 1.16% 259,924 $20.1M
12 Gabelli Funds LLC 1.15% 2,326,363 $179.6M
13 Gamco Investors, INC. Et Al 0.95% 1,370,347 $105.8M
14 Cardinal Capital Management 0.95% 100,653 $7.8M
15 VELA Investment Management, LLC 0.78% 46,956 $3.6M
16 Phocas Financial Corp. 0.70% 65,417 $5.1M
17 J.M. Arbour, LLC 0.69% 10,415 $804K
18 Huber Capital Management LLC 0.63% 55,176 $4.3M
19 Rodgers Brothers Inc. 0.63% 83,495 $6.4M
20 Arbejdsmarkedets Tillaegspension 0.60% 360,100 $27.8M
21 Ibex Wealth Advisors 0.59% 97,141 $7.5M
22 Icon Advisers Inc/Co 0.57% 39,528 $3.1M
23 Kwmg, LLC 0.55% 98,705 $7.6M
24 Aull & Monroe Investment Management Corp 0.49% 15,223 $1.2M
25 Fortem Financial Group, LLC 0.49% 31,116 $2.4M
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: 342 funds bought or added vs 266 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?

Elite ownership — 45% AUM from top-100 funds: 53 of 651 holders are among the 100 largest funds by AUM, controlling 45% of total institutional value in NFG. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

How long have hedge funds held NFG?

57% of holders stayed for 2+ years: 370 out of 652 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.

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.

Full history →