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United States Natural Gas Fund
UNG

86 hedge funds and large institutions have $102M invested in United States Natural Gas Fund in 2024 Q4 according to their latest regulatory filings, with 15 funds opening new positions, 16 increasing their positions, 29 reducing their positions, and 30 closing their positions.

New
Increased
Maintained
Reduced
Closed

30% more call options, than puts

Call options by funds: $153M | Put options by funds: $118M

2.23% less ownership

Funds ownership: 14.4% → 12.17% (-2.2%)

17% less funds holding

Funds holding: 103 → 86 (-17)

23% less capital invested

Capital invested by funds: $132M → $102M (-$29.8M)

45% less repeat investments, than reductions

Existing positions increased: 16 | Existing positions reduced: 29

50% less first-time investments, than exits

New positions opened: 15 | Existing positions closed: 30

Holders
86
Holders Change
-17
Holders Change %
-16.5%
% of All Funds
1.13%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
15
Increased
16
Reduced
29
Closed
30
Calls
$153M
Puts
$118M
Net Calls
+$35.1M
Net Calls Change
+$15.2M

Top Buyers

Rank Fund Capital Flow
1
SG
Sourcerock Group
Colorado
+$8.85M
2
Jane Street
Jane Street
New York
+$6.01M
3
Bank of America
Bank of America
North Carolina
+$3.48M
4
CWM
Centric Wealth Management
Illinois
+$3.07M
5
Susquehanna International Group
Susquehanna International Group
Pennsylvania
+$1.97M

Top Sellers

Rank Fund Capital Flow
1
Citadel Advisors
Citadel Advisors
Florida
-$14M
2
QC
Quadrature Capital
United Kingdom
-$6.75M
3
VF
Virtu Financial
New York
-$6.48M
4
Group One Trading
Group One Trading
Illinois
-$4.1M
5
Simplex Trading
Simplex Trading
Illinois
-$3.91M
Name Holding Trade Value Shares
Change 		Change in
Stake
JP Morgan Chase
26
JP Morgan Chase
New York
$610K -$1.83M -127,725 -78%
ASN
27
Advisory Services Network
Georgia
$596K -$327K -22,878 -39%
Mariner
28
Mariner
Kansas
$579K -$167K -11,650 -25%
BFM
29
Boothbay Fund Management
New York
$573K +$487K +34,090 New
BNP Paribas Financial Markets
30
BNP Paribas Financial Markets
France
$507K +$23.6K +1,647 +6%
FTUS
31
Flow Traders U.S.
New York
$489K +$416K +29,117 New
CAPTRUST Financial Advisors
32
CAPTRUST Financial Advisors
North Carolina
$471K – – –
TRCT
33
Tower Research Capital (TRC)
New York
$469K -$364K -25,447 -48%
TSS
34
Two Sigma Securities
New York
$379K +$74.3K +5,195 +30%
Goldman Sachs
35
Goldman Sachs
New York
$350K -$2.56M -179,200 -90%
SNB
36
Security National Bank
Nebraska
$269K – – –
SG Americas Securities
37
SG Americas Securities
New York
$267K +$227K +15,900 New
HF
38
HRT Financial
New York
$253K +$216K +15,075 New
Commonwealth Equity Services
39
Commonwealth Equity Services
Massachusetts
$246K -$20.6K -1,443 -9%
IAS
40
Insigneo Advisory Services
Florida
$245K -$134K -9,346 -39%
SC
41
Scotia Capital
Ontario, Canada
$242K -$34.5K -2,411 -14%
MGIA
42
Moneta Group Investment Advisors
Missouri
$237K -$39.3K -2,750 -16%
SPC
43
Sigma Planning Corp
Michigan
$236K -$77.6K -5,424 -28%
CA
44
Clearstead Advisors
Ohio
$233K -$28.6K -2,000 -13%
Carson Wealth (CWM LLC)
45
Carson Wealth (CWM LLC)
Nebraska
$201K +$164K +11,446 +2,289%
QWM
46
Quadcap Wealth Management
Texas
$191K – – –
DWP
47
Daymark Wealth Partners
Ohio
$189K -$114K -8,000 -42%
Northern Trust
48
Northern Trust
Illinois
$186K +$8.25K +577 +5%
JWCA
49
J.W. Cole Advisors
Florida
$182K – – –
Cambridge Investment Research Advisors
50
Cambridge Investment Research Advisors
Iowa
$179K -$15.5K -1,083 -9%
1
2
3 4 5

UNG Hedge Fund Activity: Q4 2024 in Review

86 of the 7,592 institutional investors tracked by Wall St. Rank reported a position in United States Natural Gas Fund (UNG) for Q4 2024, worth a combined $102M — down 23% from $132M a quarter earlier.

Sellers outnumbered buyers: 30 funds closed out of UNG and 15 opened new positions — a net loss of 15 holders — while 29 trimmed existing stakes and 16 added.

The largest buyer was Sourcerock Group, opening a new position worth an estimated $8.85M. The largest seller was Citadel Advisors, cutting an estimated $14M.

  • 86 institutional investors held United States Natural Gas Fund (UNG) as of Q4 2024, down from 103 in Q3 2024.
  • Funds reported $102M of United States Natural Gas Fund stock for Q4 2024, down 23% quarter-over-quarter.
  • 15 funds opened new United States Natural Gas Fund positions in Q4 2024 and 30 closed out, a net change of -15 holders.
  • The largest United States Natural Gas Fund buyer in Q4 2024 was Sourcerock Group, an estimated $8.85M added.
  • The largest United States Natural Gas Fund seller in Q4 2024 was Citadel Advisors, an estimated $14M sold.

Based on aggregated 13F filings for Q4 2024.