Northern Oil and Gas

NOG • NYSE

Northern Oil and Gas is a oil & gas exploration & production company in the energy sector on NYSE, led by Nicholas O'Grady, with a market cap of $2.2B. As of Q3 2025, 117% of shares are held by 348 institutional investors, with BlackRock, Inc. as the largest holder at 14.34%.

CEONicholas O'Grady

Market Cap$2.2B

Oil & Gas Exploration & Production

Energy

Employees38.0

Websitenorthernoil.com

Country

United States of America

Overview

Overview of institutional ownership in NOG as of Q3 2025 with a market cap of $2.4B

All Institutions

Institutions: 348
Value Held: $2.8B
Shares Held: 114.0M
Avg Position: $8.1M
Median Position: $524.3K

Hedge Funds

Hedge Funds: 32
Value Held: $58.9M
Shares Held: 2.4M
Avg Position: $1.8M
Median Position: $1.0M

Ownership Breakdown

Institutional (non-HF)

114.48%

$2.8B

Hedge Funds

2.43%

$58.9M

Retail & Other

Based on market cap of $2.4B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in NOG as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
B BlackRock, Inc. Institution	-	$347.0M 0.01% of portfolio	14.34% 14.0M shares	≤ Q2 2013 Held for 12y 5m+	$5.67T
VANGUARD GROUP INC Institution	Salim Ramji CEO	$266.2M 0.00% of portfolio	11.00% 10.7M shares	≤ Q2 2013 Held for 12y 5m+	$6.69T
FMR LLC Institution	-	$238.0M 0.01% of portfolio	9.83% 9.6M shares	Q3 2018 Held for 7y 2m	$1.92T
A AMERICAN CENTURY COMPANIES INC Institution	-	$204.0M 0.10% of portfolio	8.43% 8.2M shares	Q4 2022 Held for 2y 11m	$195.93B
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$132.0M 0.00% of portfolio	5.35% 5.2M shares	≤ Q2 2013 Held for 12y 5m+	$2.88T
DIMENSIONAL FUND ADVISORS LP Long Only Manager	David Paul Butler CEO	$122.6M 0.03% of portfolio	5.06% 4.9M shares	Q2 2022 Held for 3y 5m	$466.32B
Invesco Ltd. ETF Provider	Brian Christopher Hartigan CEO	$91.2M 0.01% of portfolio	3.77% 3.7M shares	Q1 2019 Held for 6y 8m	$633.08B
ALLIANCEBERNSTEIN L.P. Long Only Manager	Seth Perry Bernstein CEO	$81.9M 0.03% of portfolio	3.38% 3.3M shares	Q2 2021 Held for 4y 5m	$317.45B
WESTWOOD HOLDINGS GROUP INC Institution	Brian O. Casey CEO	$66.6M 0.48% of portfolio	2.75% 2.7M shares	Q4 2021 Held for 3y 11m	$13.8B
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$57.6M 0.00% of portfolio	2.38% 2.3M shares	≤ Q2 2013 Held for 12y 5m+	$1.57T

Net Capital Flow

Institutional buying and selling activity for NOG in Q3 2025

Traded: −$16.2M
Buyers: 171
Sellers: 180
Total Bought: +$202.5M
Total Sold: −$218.7M
Avg Position: $7.0M

Biggest Buyers

Institution	Net Bought	Current Position
Tributary Capital Management, LLC Long Only Manager	+$19.3M +779.5K shares	$32.5M 1.3M shares
D D. E. Shaw & Co., Inc. Institution	+$13.9M +561.5K shares	$15.0M 606.1K shares
STATE STREET CORP Institution	+$12.1M +478.1K shares	$132.0M 5.2M shares
B BRIDGEWAY CAPITAL MANAGEMENT INC Long Only Manager	+$11.3M +455.5K shares	$11.3M 455.5K shares
N NOMURA HOLDINGS INC Institution	+$10.7M +431.8K shares	$13.0M 524.2K shares
MORGAN STANLEY RIA/Wealth	+$8.1M +326.1K shares	$56.0M 2.3M shares
Empowered Funds, LLC ETF Provider	+$7.6M +305.5K shares	$9.0M 364.1K shares
R ROYAL BANK OF CANADA Institution	+$7.4M +296.5K shares	$23.7M 957.4K shares
WESTWOOD HOLDINGS GROUP INC Institution	+$6.4M +259.7K shares	$66.6M 2.7M shares
DIMENSIONAL FUND ADVISORS LP Long Only Manager	+$5.9M +235.9K shares	$122.6M 4.9M shares

Biggest Sellers

Institution	Net Sold	Current Position
DLD Asset Management, LP Hedge Fund•Multi-Strategy	−$26.3M −925.9K shares	Sold Off 0 shares
JENNISON ASSOCIATES LLC Long Only Manager	−$26.2M −924.6K shares	Sold Off 0 shares
FMR LLC Institution	−$23.9M −965.6K shares	$238.0M 9.6M shares
S Squarepoint Ops LLC Hedge Fund•Quant	−$14.3M −575.5K shares	$3.4M 137.8K shares
S Standard Life Aberdeen plc Institution	−$11.4M −399.5K shares	Sold Off 0 shares
GOLDMAN SACHS GROUP INC Institution	−$11.1M −447.4K shares	$15.5M 623.4K shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$6.9M −244.8K shares	Sold Off 0 shares
Allspring Global Investments Holdings, LLC Long Only Manager	−$5.7M −229.2K shares	$42.5M 1.7M shares
B BlackRock, Inc. Institution	−$5.4M −218.6K shares	$347.0M 14.0M shares
Brandywine Global Investment Management, LLC Long Only Manager	−$4.9M −173.9K shares	Sold Off 0 shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited NOG in Q3 2025

New Positions: 12
New Value: $6.5M
Exited Positions: 51
Exited Value: $110.8M

New Positions

Institution	Position Value
Dana Investment Advisors, Inc. Long Only Manager	$2.6M 106.2K shares
COMMONS CAPITAL, LLC RIA/Wealth	$1.4M 55.0K shares
Corigliano Investment Advisers, LLC Hedge Fund•Sector	$1.3M 53.0K shares
Maridea Wealth Management LLC RIA/Wealth	$1.1M 52.7K shares
FIRST HORIZON NATIONAL CORP RIA/Wealth	$27.4K 1.1K shares
S Salomon & Ludwin, LLC Institution	$23.5K 938.0 shares
Sontag Advisory, LLC RIA/Wealth	$11.8K 474.0 shares
Triumph Capital Management RIA/Wealth	$9.9K 400.0 shares
R Root Financial Partners, LLC RIA/Wealth	$6.2K 251.0 shares
Transamerica Financial Advisors, Inc. Institution	$2.7K 107.0 shares

Exited Positions

Institution	Previous Position
DLD Asset Management, LP Hedge Fund•Multi-Strategy	$26.3M 925.9K shares
JENNISON ASSOCIATES LLC Long Only Manager	$26.2M 924.6K shares
S Standard Life Aberdeen plc Institution	$11.4M 399.5K shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$6.9M 244.8K shares
Brandywine Global Investment Management, LLC Long Only Manager	$4.9M 173.9K shares
Ninepoint Partners LP Hedge Fund•Multi-Strategy	$4.3M 150.0K shares
Engineers Gate Manager LP Hedge Fund•Quant	$3.7M 131.6K shares
Nicholas Investment Partners, LP Long Only Manager	$3.1M 110.1K shares
M Man Group plc Institution	$3.1M 107.9K shares
T TEXAS PERMANENT SCHOOL FUND Institution	$2.7M 95.5K shares

Options Activity

Institutions with the largest Call and Put options positions in NOG as of Q3 2025

Call Positions: 14
Call Value: $79.7M
Put Positions: 17
Put Value: $39.3M

Call Positions

Institution	Position Value
UBS Group AG Institution	$47.3M 19.1K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$8.4M 3.4K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$7.2M 2.9K contracts
P PEAK6 LLC Institution	$6.7M 2.7K contracts
GOLDMAN SACHS GROUP INC Institution	$4.2M 1.7K contracts
W WOLVERINE TRADING, LLC Institution	$1.1M 427.0 contracts
S Squarepoint Ops LLC Hedge Fund•Quant	$994.5K 401.0 contracts
J JANE STREET GROUP, LLC Institution	$952.3K 384.0 contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$890.3K 359.0 contracts
Walleye Trading LLC RIA/Wealth	$820.9K 331.0 contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$6.6M 2.6K contracts
P PEAK6 LLC Institution	$4.5M 1.8K contracts
GOLDMAN SACHS GROUP INC Institution	$4.2M 1.7K contracts
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	$4.1M 1.7K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$4.1M 1.7K contracts
S Squarepoint Ops LLC Hedge Fund•Quant	$3.6M 1.4K contracts
W WOLVERINE TRADING, LLC Institution	$3.2M 1.3K contracts
WOLVERINE ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	$2.1M 864.0 contracts
D D. E. Shaw & Co., Inc. Institution	$1.4M 575.0 contracts
CAPITAL FUND MANAGEMENT S.A. Hedge Fund•Quant Macro	$1.2M 496.0 contracts

Most Committed Institutions

Institutions with NOG as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Requisite Capital Management, LLC RIA/Wealth	Douglas Geoffrey John Managing Partner	2.39% $14.2M	0.58% 564.0K shares	Q1 2022 Held for 3y 8m	$595.2M
PIN OAK INVESTMENT ADVISORS INC RIA/Wealth	James Barrett Rouse President	2.39% $3.3M	0.14% 132.3K shares	Q4 2021 Held for 3y 11m	$139.8M
Tributary Capital Management, LLC Long Only Manager	Mark Alan Wynegar President	1.54% $32.5M	1.34% 1.3M shares	Q2 2022 Held for 3y 5m	$2.1B
E Expect Equity LLC Institution	-	1.47% $1.5M	0.06% 60.8K shares	Q4 2024 Held for 11 months	$102.4M
Channing Capital Management, LLC Long Only Manager	Rodney Bernard Herenton CEO	1.11% $42.2M	1.74% 1.7M shares	Q3 2024 Held for 1y 2m	$3.8B
Register Financial Advisors LLC RIA/Wealth	George Robert Register CEO	1.02% $2.6M	0.11% 104.5K shares	Q4 2022 Held for 2y 11m	$254.0M
PENN CAPITAL MANAGEMENT CO INC Long Only Manager	Pamela Marie Lawrence President	0.99% $12.9M	0.53% 518.0K shares	Q4 2021 Held for 3y 11m	$1.3B
B BW Gestao de Investimentos Ltda. Institution	-	0.98% $12.8M	0.53% 517.6K shares	Q1 2025 Held for 8 months	$1.3B
12th Street Asset Management Company, LLC Hedge Fund•Value	David Andrew Shipman Member	0.95% $6.0M	0.25% 240.7K shares	Q3 2021 Held for 4y 2m	$628.0M
EPIQ PARTNERS, LLC RIA/Wealth	Bruce Jeffrey Langer CEO	0.94% $1.9M	0.08% 77.7K shares	Q4 2019 Held for 5y 11m	$205.1M

Hedge Fund Spotlight

Discover hedge funds investing in NOG

PDT Partners, LLC

Hedge Fund • Quant

Portfolio ManagerPeter (Nmn) Muller

Portfolio Value: $1.6B
Positions: 569
Last Reported: Q3 2025

Sector Allocation

Position in Northern Oil and Gas

Market Value: $3.0M
Shares Held: 119.3K
Portfolio Weight: 0.19%
Owned Since: 2025-Q2

Top Holding	Sector	Market Value	Weight
1 Logitech International LOGI	Computer Hardware Technology	$27.9M	1.77%
2 CME Group CME	Financial - Data & Stock Exchanges Financial Services	$16.8M	1.06%
3 Suncor Energy SU	Oil & Gas Integrated Energy	$14.7M	0.93%