National Fuel Gas Company
MX ˙ BMV ˙ US6361801011
SecurityMX:NFG / National Fuel Gas Company
InstitutionTwo Sigma Investments, Lp
ManagerJohn Overdeck, David Siegel
Latest Disclosed Ownership394,307 shares
Latest Disclosed Value $ 37,049,086
Two Sigma Investments, Lp reports 2,708.05% increase in ownership of NFG / National Fuel Gas Company

On May 15, 2026 - Two Sigma Investments, Lp filed a 13F-HR form disclosing ownership of 394,307 shares of National Fuel Gas Company (MX:NFG) valued at $37,049,086 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 17, 2026 disclosing 14,042 shares of National Fuel Gas Company. This represents a change in shares of 2,708.05% during the quarter.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-15 2026-03-31 13F NATIONAL FUEL GAS COM 636180101 394,307 380,265 2,708.05 37,049 3,196.17 0.0299
2026-02-17 2025-12-31 13F NATIONAL FUEL GAS COM 636180101 14,042 -18,800 -57.24 1,124 -62.94 0.0016
2025-11-14 2025-09-30 13F NATIONAL FUEL GAS COM 636180101 32,842 -146,235 -81.66 3,034 -80.01 0.0045
2025-08-14 2025-06-30 13F NATIONAL FUEL GAS COM 636180101 179,077 -102,206 -36.34 15,170 -31.90 0.0269
2025-05-15 2025-03-31 13F NATIONAL FUEL GAS COM 636180101 281,283 71,689 34.20 22,275 75.14 0.0476
2025-02-14 2024-12-31 13F NATIONAL FUEL GAS COM 636180101 209,594 99,412 90.23 12,718 90.45 0.0277
2024-11-14 2024-09-30 13F NATIONAL FUEL GAS COM 636180101 110,182 9,576 9.52 6,678 22.51 0.0146
2024-08-14 2024-06-30 13F NATIONAL FUEL GAS COM 636180101 100,606 100,606 5,452 0.0124
2024-05-15 2024-03-31 13F NATIONAL FUEL GAS COM 636180101 0 -47,701 -100.00 0 -100.00
2024-02-14 2023-12-31 13F NATIONAL FUEL GAS COM 636180101 47,701 22,553 89.68 2,393 83.37 0.0055
2023-11-14 2023-09-30 13F NATIONAL FUEL GAS COM 636180101 25,148 25,148 1,305 0.0035
2023-05-15 2023-03-31 13F NATIONAL FUEL GAS COM 636180101 0 -7,500 -100.00 0 -100.00
2023-02-14 2022-12-31 13F NATIONAL FUEL GAS COM 636180101 7,500 3,600 92.31 475 97.50 0.0015
2022-11-14 2022-09-30 13F NATIONAL FUEL GAS COM 636180101 3,900 3,900 240 0.0008
2021-02-16 2020-12-31 13F NATIONAL FUEL GAS CO N J COM 636180101 0 -65,815 -100.00 0 -100.00
2020-11-16 2020-09-30 13F NATIONAL FUEL GAS CO N J COM 636180101 65,815 -295,866 -81.80 2,671 -82.39 0.0095
2020-08-14 2020-06-30 13F NATIONAL FUEL GAS CO N J COM 636180101 361,681 349,629 2,901.00 15,165 3,277.51 0.0751
2020-05-15 2020-03-31 13F NATIONAL FUEL GAS CO N J COM 636180101 12,052 -195,773 -94.20 449 -95.36 0.0037
2020-02-14 2019-12-31 13F NATIONAL FUEL GAS CO N J COM 636180101 207,825 201,425 3,147.27 9,672 3,124.00 0.0291
2019-11-14 2019-09-30 13F NATIONAL FUEL GAS CO N J COM 636180101 6,400 -44,803 -87.50 300 -88.89 0.0010
2019-08-14 2019-06-30 13F NATIONAL FUEL GAS CO N J COM 636180101 51,203 51,203 2,701 0.0090
2019-02-14 2018-12-31 13F NATIONAL FUEL GAS CO N J COM 636180101 0 -61,834 -100.00 0 -100.00
2018-11-14 2018-09-30 13F NATIONAL FUEL GAS CO N J COM 636180101 61,834 28,009 82.81 3,466 93.52 0.0094
2018-08-14 2018-06-30 13F NATIONAL FUEL GAS CO N J COM 636180101 33,825 18,525 121.08 1,791 127.57 0.0053
2018-05-15 2018-03-31 13F NATIONAL FUEL GAS CO N J COM 636180101 15,300 15,300 787 0.0026
2018-02-14 2017-12-31 13F NATIONAL FUEL GAS CO N J COM 636180101 0 -7,300 -100.00 0 -100.00
2017-11-14 2017-09-30 13F NATIONAL FUEL GAS CO N J COM 636180101 7,300 -56,783 -88.61 413 -88.46 0.0015
2017-08-14 2017-06-30 13F NATIONAL FUEL GAS CO N J COM 636180101 64,083 480 0.75 3,578 -5.64 0.0129
2017-05-15 2017-03-31 13F NATIONAL FUEL GAS CO N J COM 636180101 63,603 -234,087 -78.63 3,792 -77.51 0.0128
2017-02-14 2016-12-31 13F NATIONAL FUEL GAS CO N J COM 636180101 297,690 137,641 86.00 16,861 94.83 0.0646
2016-11-14 2016-09-30 13F NATIONAL FUEL GAS CO N J COM 636180101 160,049 -52,108 -24.56 8,654 -28.28 0.0314
2016-08-15 2016-06-30 13F NATIONAL FUEL GAS CO N J COM 636180101 212,157 153,724 263.08 12,067 312.55 0.0518
2016-05-16 2016-03-31 13F NATIONAL FUEL GAS CO N J COM 636180101 58,433 -26,252 -31.00 2,925 -19.20 0.0139
2016-02-16 2015-12-31 13F NATIONAL FUEL GAS CO N J COM 636180101 84,685 -47,980 -36.17 3,620 -45.41 0.0174
2015-11-16 2015-09-30 13F NATIONAL FUEL GAS CO N J COM 636180101 132,665 132,665 0.00 6,631 0.0340
2015-08-14 2015-06-30 13F NATIONAL FUEL GAS CO N J COM 636180101 0 -9,101 -100.00 0 -100.00
2016-02-09 2015-03-31 13F/A-1 NATIONAL FUEL GAS CO N J COM 636180101 9,101 -14,099 -60.77 549 -65.96 0.0027
2015-05-15 2015-03-31 13F NATIONAL FUEL GAS CO N J COM 636180101 9,101 549
2016-02-09 2014-12-31 13F/A-1 NATIONAL FUEL GAS CO N J COM 636180101 23,200 23,200 0.00 1,613 0.0093
2015-02-17 2014-12-31 13F NATIONAL FUEL GAS CO N J COM 636180101 23,200 1,613
2014-08-14 2014-06-30 13F NATIONAL FUEL GAS CO N J COM 636180101 0 -5,301 -100.00 0 -100.00
2014-05-15 2014-03-31 13F NATIONAL FUEL GAS CO N J COM 636180101 5,301 5,301 -59.13 371 -50.66 0.0020
2013-11-14 2013-09-30 13F NATIONAL FUEL GAS CO N J COM 636180101 0 -12,970 -100.00 0 -100.00
2013-08-14 2013-06-30 13F NATIONAL FUEL GAS CO N J COM 636180101 12,970 12,970 752 0.0053
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.