Northwest Natural

NWN • NYSE

Northwest Natural is a regulated gas company in the utilities sector on NYSE, led by David H. Anderson, with a market cap of $1.9B. As of Q3 2025, 78% of shares are held by 284 institutional investors, with BlackRock, Inc. as the largest holder at 16.29%.

DirectorDavid H. Anderson

Market Cap$1.9B

Regulated Gas

Utilities

Employees1.4K

Websitenwnaturalholdings.com

Country

United States of America

Overview

Overview of institutional ownership in NWN as of Q3 2025 with a market cap of $1.8B

All Institutions

Institutions: 284
Value Held: $1.4B
Shares Held: 32.1M
Avg Position: $5.1M
Median Position: $492.1K

Hedge Funds

Hedge Funds: 16
Value Held: $26.5M
Shares Held: 590.0K
Avg Position: $1.7M
Median Position: $915.0K

Ownership Breakdown

Institutional (non-HF)

77.04%

$1.4B

Hedge Funds

1.44%

$26.5M

Retail & Other

21.52%

$395.8M

Based on market cap of $1.8B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in NWN as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
B BlackRock, Inc. Institution	-	$299.6M 0.01% of portfolio	16.29% 6.7M shares	≤ Q2 2013 Held for 12y 5m+	$5.67T
VANGUARD GROUP INC Institution	Salim Ramji CEO	$213.8M 0.00% of portfolio	11.62% 4.8M shares	≤ Q2 2013 Held for 12y 5m+	$6.69T
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$90.9M 0.00% of portfolio	4.94% 2.0M shares	≤ Q2 2013 Held for 12y 5m+	$2.88T
VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P. Long Only Manager	Christopher David Wallis CEO	$63.1M 0.57% of portfolio	3.43% 1.4M shares	Q2 2025 Held for 5 months	$11.0B
FIRST TRUST ADVISORS LP ETF Provider	James Allen Bowen CEO	$44.4M 0.03% of portfolio	2.41% 987.2K shares	≤ Q2 2013 Held for 12y 5m+	$134.11B
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$43.7M 0.00% of portfolio	2.38% 973.3K shares	≤ Q2 2013 Held for 12y 5m+	$1.57T
DUFF & PHELPS INVESTMENT MANAGEMENT CO Real Assets	George Robert Aylward Chairman	$42.3M 0.48% of portfolio	2.30% 940.5K shares	≤ Q2 2013 Held for 12y 5m+	$8.8B
Invesco Ltd. ETF Provider	Brian Christopher Hartigan CEO	$38.7M 0.01% of portfolio	2.10% 861.0K shares	≤ Q2 2013 Held for 12y 5m+	$633.08B
DIMENSIONAL FUND ADVISORS LP Long Only Manager	David Paul Butler CEO	$32.5M 0.01% of portfolio	1.77% 722.7K shares	≤ Q2 2013 Held for 12y 5m+	$466.32B
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$31.9M 0.00% of portfolio	1.74% 710.6K shares	≤ Q2 2013 Held for 12y 5m+	$1.65T

Net Capital Flow

Institutional buying and selling activity for NWN in Q3 2025

Traded: +$14.7M
Buyers: 140
Sellers: 121
Total Bought: +$73.4M
Total Sold: −$58.7M
Avg Position: $4.6M

Biggest Buyers

Institution	Net Bought	Current Position
VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P. Long Only Manager	+$8.2M +181.6K shares	$63.1M 1.4M shares
A Amundi Institution	+$6.4M +144.1K shares	$6.6M 150.4K shares
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$3.4M +75.8K shares	$9.1M 201.6K shares
GOLDMAN SACHS GROUP INC Institution	+$3.3M +73.0K shares	$15.1M 337.0K shares
PRUDENTIAL FINANCIAL INC Institution	+$3.3M +73.0K shares	$15.3M 339.7K shares
PRINCIPAL FINANCIAL GROUP INC Institution	+$3.0M +66.6K shares	$12.0M 266.5K shares
L LSV ASSET MANAGEMENT Long Only Manager	+$2.9M +63.5K shares	$3.2M 72.1K shares
Cetera Investment Advisers RIA/Wealth	+$2.6M +57.5K shares	$2.9M 63.9K shares
NGAM ADVISORS, L.P. Long Only Manager	+$2.2M +49.1K shares	$12.0M 267.9K shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	+$2.2M +48.5K shares	$2.2M 48.5K shares

Biggest Sellers

Institution	Net Sold	Current Position
VICTORY CAPITAL MANAGEMENT INC Long Only Manager	−$4.4M −96.9K shares	$6.8M 150.3K shares
AMERIPRISE FINANCIAL INC Institution	−$3.6M −80.3K shares	$5.7M 127.3K shares
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	−$3.0M −66.3K shares	$6.6M 146.1K shares
$Regency Capital Management Inc.\DE logo$ Regency Capital Management Inc.\DE RIA/Wealth	−$2.9M −74.1K shares	Sold Off 0 shares
STATE STREET CORP Institution	−$2.7M −59.6K shares	$90.9M 2.0M shares
MORGAN STANLEY RIA/Wealth	−$2.6M −58.7K shares	$31.9M 710.6K shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	−$2.4M −54.1K shares	$252.9K 5.6K shares
D DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main Institution	−$2.4M −53.4K shares	$1.4M 30.3K shares
Advisors Asset Management, Inc. ETF Provider	−$2.1M −47.6K shares	$3.8M 84.3K shares
FIRST TRUST ADVISORS LP ETF Provider	−$2.1M −46.3K shares	$44.4M 987.2K shares

Entry and Exit Activity

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

New Positions: 9
New Value: $831.4K
Exited Positions: 32
Exited Value: $14.2M

New Positions

Institution	Position Value
C CAXTON ASSOCIATES LLP Institution	$674.8K 15.0K shares
G GROUP ONE TRADING, L.P. Institution	$121.3K 2.7K shares
Hartland & Co., LLC RIA/Wealth	$9.4K 209.0 shares
S Salomon & Ludwin, LLC Institution	$8.3K 186.0 shares
Westside Investment Management, Inc. RIA/Wealth	$7.9K 178.0 shares
Sontag Advisory, LLC RIA/Wealth	$4.9K 110.0 shares
C Community Bank, N.A. Institution	$4.4K 99.0 shares
R Rossby Financial, LCC RIA/Wealth	$355.0 8.0 shares
R Root Financial Partners, LLC RIA/Wealth	$45.0 1.0 shares

Exited Positions

Institution	Previous Position
$Regency Capital Management Inc.\DE logo$ Regency Capital Management Inc.\DE RIA/Wealth	$2.9M 74.1K shares
JACOBS LEVY EQUITY MANAGEMENT, INC Hedge Fund•Quant	$1.8M 46.5K shares
T TEXAS PERMANENT SCHOOL FUND Institution	$1.5M 36.5K shares
C Cubist Systematic Strategies, LLC Institution	$1.1M 28.6K shares
Engineers Gate Manager LP Hedge Fund•Quant	$811.5K 20.4K shares
Point72 Asset Management, L.P. Hedge Fund•Multi-Strategy	$702.1K 17.7K shares
ExodusPoint Capital Management, LP Hedge Fund•Multi-Strategy	$646.7K 16.3K shares
TWO SIGMA ADVISERS, LLC Hedge Fund•Multi-Strategy	$504.4K 12.7K shares
M MQS Management LLC Hedge Fund•Global Macro	$499.1K 12.6K shares
Marshall Wace LLP Institution	$421.4K 10.6K shares

Options Activity

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

Call Positions: 3
Call Value: $3.1M
Put Positions: 1
Put Value: -

Call Positions

Institution	Position Value
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$2.0M 453.0 contracts
J JANE STREET GROUP, LLC Institution	$669.5K 149.0 contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$435.8K 97.0 contracts

Put Positions

Institution	Position Value
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	- - contracts

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
G GRACE & WHITE INC /NY RIA/Wealth	Marc Emil Ravitz President	0.92% $4.4M	0.24% 98.7K shares	Q4 2021 Held for 3y 11m	$481.2M
VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P. Long Only Manager	Christopher David Wallis CEO	0.57% $63.1M	3.43% 1.4M shares	Q2 2025 Held for 5 months	$11.0B
DUFF & PHELPS INVESTMENT MANAGEMENT CO Real Assets	George Robert Aylward Chairman	0.48% $42.3M	2.30% 940.5K shares	≤ Q2 2013 Held for 12y 5m+	$8.8B
Guardian Wealth Management, Inc. RIA/Wealth	Thibault Basquin Member	0.44% $750.3K	0.04% 16.7K shares	Q4 2021 Held for 3y 11m	$169.3M
INFRASTRUCTURE CAPITAL ADVISORS, LLC ETF Provider	Jay Don Hatfield CEO	0.33% $1.9M	0.10% 40.8K shares	Q2 2022 Held for 3y 5m	$561.1M
IMS Capital Management RIA/Wealth	Carl William Marker CEO	0.29% $638.5K	0.03% 14.2K shares	Q2 2021 Held for 4y 5m	$216.6M
THOMPSON SIEGEL & WALMSLEY LLC Long Only Manager	Brett Phelan Hawkins CIO	0.25% $15.4M	0.84% 343.6K shares	Q3 2024 Held for 1y 2m	$6.1B
Dana Investment Advisors, Inc. Long Only Manager	Mark Richard Mirsberger CEO	0.23% $7.5M	0.41% 167.3K shares	Q1 2024 Held for 1y 8m	$3.3B
Significant Wealth Partners LLC RIA/Wealth	Brian William Atkins President	0.20% $410.8K	0.02% 9.1K shares	Q4 2024 Held for 11 months	$204.6M
PENN CAPITAL MANAGEMENT CO INC Long Only Manager	Pamela Marie Lawrence President	0.20% $2.6M	0.14% 57.2K shares	Q4 2020 Held for 4y 11m	$1.3B

Hedge Fund Spotlight

Discover hedge funds investing in NWN

Quantinno Capital Management LP

Hedge Fund • Market Neutral

Portfolio ManagerHoon Nmn Kim

Portfolio Value: $36.6B
Positions: 2,911
Last Reported: Q3 2025

Sector Allocation

Position in Northwest Natural

Market Value: $975.7K
Shares Held: 21.7K
Portfolio Weight: 0.00%
Owned Since: 2025-Q1

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