Vanguard Capital Management Acquires 5.21% Stake in National Fuel Gas Co (NFG)

Vanguard Capital Management LLC filed a Schedule 13G on April 30, 2026, disclosing a new 5.21% ownership stake in National Fuel Gas Co (NFG). As of the event date on March 31, 2026, Vanguard beneficially owns 4,954,347 shares of common stock. The filing indicates that Vanguard holds sole dispositive power over all 4,954,347 shares, while maintaining sole voting power over 707,384 shares. This position represents a significant increase from a previously reported 0% ownership, crossing the 5% regulatory threshold. The shares were acquired in the ordinary course of business by Vanguard and its affiliates, including Vanguard Asset Management Limited and Vanguard Global Advisers, LLC. The filing clarifies that the securities were not acquired for the purpose of influencing or changing the control of the issuer. National Fuel Gas Co is headquartered in Williamsville, NY, and the reporting person, Vanguard Capital Management, is based in Malvern, PA.