Institutional Holding: State Street Owns 2.08M NWN Shares (5.2%)

Rhea-AI Filing Summary

State Street Corporation reported beneficial ownership of 2,083,304 shares of Northwest Natural Holding Co common stock, representing 5.2% of the class. The filing shows no sole voting or dispositive power and records shared voting power of 1,868,122 and shared dispositive power over 2,083,304 shares. Holdings are reported through several State Street affiliates, including SSGA Funds Management and multiple State Street Global Advisors entities. The statement certifies the positions are held in the ordinary course of business and not for the purpose of changing control of the issuer. Northwest Natural Holding Co is identified with principal offices in Portland, Oregon.

Positive

• State Street Corporation beneficially owned 2,083,304 NWN shares, representing 5.2% of the class
• Shared voting power of 1,868,122 and shared dispositive power of 2,083,304 are explicitly reported
• Holdings are held through multiple State Street advisory subsidiaries, consistent with institutional custody/advisory arrangements

Negative

• None.

Insights

Financial Analyst

TL;DR: State Street holds a meaningful 5.2% passive stake in NWN, with shared voting and dispositive power reported through its advisor affiliates.

The Schedule 13G shows State Street Corporation beneficially owns 2,083,304 NWN shares (5.2% of the class). Reported rights are shared voting power of 1,868,122 and shared dispositive power of 2,083,304, with no sole voting or dispositive power. The position is held through named State Street advisory subsidiaries, indicating client or fund-held assets rather than a single proprietary stake. The filing's certification that holdings are in the ordinary course of business signals a passive, non-control intent, so immediate corporate governance or control impacts are unlikely based on this filing alone.

Corporate Governance Expert

TL;DR: This is a passive institutional disclosure; State Street's 5.2% holding is material but not indicative of control.

The disclosure identifies multiple State Street Global Advisors entities as the reporting subsidiaries, consistent with custody/advisory holdings. The Schedule 13G certification states the securities are not held to influence issuer control. Reported shared voting power of 1,868,122 confirms involvement in vote direction with other parties, but absence of sole voting or dispositive power and the passive declaration make this a routine institutional report rather than an activist or control claim. Materiality for investors: the stake is notable for ownership reporting, not for governance change based on the filed information.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

NORTHWEST NATURAL HOLDING CO

(Name of Issuer)

COMMON STOCK

(Title of Class of Securities)

66765N105

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 66765N105

1

Names of Reporting Persons

STATE STREET CORPORATION

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

MASSACHUSETTS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,868,122.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,083,304.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,083,304.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.2 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: NORTHWEST NATURAL HOLDING CO
(b)	Address of issuer's principal executive offices: 220 NORTHWEST 2ND AVENUE , PORTLAND, OREGON, 97209
Item 2.
(a)	Name of person filing: STATE STREET CORPORATION;
(b)	Address or principal business office or, if none, residence: ONE CONGRESS STREET, SUITE 1, BOSTON MA 02114, UNITED STATES
(c)	Citizenship: MA
(d)	Title of class of securities: COMMON STOCK
(e)	CUSIP No.: 66765N105
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 2083304.00
(b)	Percent of class: 5.2 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 1,868,122
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 2,083,304
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. NOT APPLICABLE
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. SSGA FUNDS MANAGEMENT, INC. (IA);STATE STREET GLOBAL ADVISORS EUROPE LIMITED (IA);STATE STREET GLOBAL ADVISORS LIMITED (IA);STATE STREET GLOBAL ADVISORS TRUST COMPANY (IA);STATE STREET GLOBAL ADVISORS, AUSTRALIA, LIMITED (IA);STATE STREET GLOBAL ADVISORS, LTD. (IA);
Item 8.	Identification and Classification of Members of the Group.
	If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(K), so indicate under Item 3(k) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group. NOT APPLICABLE
Item 9.	Notice of Dissolution of Group.
	Notice of dissolution of a group may be furnished as an exhibit stating the date of the dissolution and that all further filings with respect to transactions in the security reported on will be filed, if required, by members of the group, in their individual capacity. See Item 5. NOT APPLICABLE

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

STATE STREET CORPORATION

Signature:	ELIZABETH SCHAEFER
Name/Title:	SENIOR VICE PRESIDENT, CHIEF ACCOUNTING OFFICER
Date:	08/08/2025

FAQ

Who filed the Schedule 13G for Northwest Natural Holding Co (NWN)?

The filing was made by State Street Corporation, reporting holdings through State Street advisory subsidiaries.

How many NWN shares does State Street beneficially own and what percent is that?

2,083,304 shares, representing 5.2% of the outstanding class as reported in the Schedule 13G.

What voting and dispositive powers does State Street report for NWN shares?

The filing reports 0 sole voting power, 1,868,122 shared voting power, 0 sole dispositive power, and 2,083,304 shared dispositive power.

Are these NWN holdings intended to influence control of the issuer?

Per the filing certification, the securities are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

Through which State Street entities are the NWN shares held?

The filing lists subsidiaries including SSGA Funds Management, Inc., State Street Global Advisors Europe Limited, State Street Global Advisors Limited, and others.