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United States Natural Gas Fund
UNG

91 hedge funds and large institutions have $95.8M invested in United States Natural Gas Fund in 2025 Q3 according to their latest regulatory filings, with 26 funds opening new positions, 31 increasing their positions, 14 reducing their positions, and 13 closing their positions.

New
Increased
Maintained
Reduced
Closed

121% more repeat investments, than reductions

Existing positions increased: 31 | Existing positions reduced: 14

100% more first-time investments, than exits

New positions opened: 26 | Existing positions closed: 13

40% more capital invested

Capital invested by funds: $68.3M → $95.8M (+$27.5M)

13% more call options, than puts

Call options by funds: $112M | Put options by funds: $98.7M

12% more funds holding

Funds holding: 81 → 91 (+10)

3.48% less ownership

Funds ownership: 19.63% → 16.16% (-3.5%)

Holders
91
Holders Change
+10
Holders Change %
+12.35%
% of All Funds
1.19%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
26
Increased
31
Reduced
14
Closed
13
Calls
$112M
Puts
$98.7M
Net Calls
+$13.3M
Net Calls Change
+$9.3M

Top Buyers

Rank Fund Capital Flow
1
CIA
Corigliano Investment Advisers
North Carolina
+$10.4M
2
JF
Jump Financial
Illinois
+$7.56M
3
IMC Chicago
IMC Chicago
Illinois
+$5.87M
4
VF
Virtu Financial
New York
+$5.13M
5
FTUS
Flow Traders U.S.
New York
+$4.78M

Top Sellers

Rank Fund Capital Flow
1
JG
Jain Global
New York
-$8.4M
2
Goldman Sachs
Goldman Sachs
New York
-$4.25M
3
Citadel Advisors
Citadel Advisors
Florida
-$1.97M
4
Morgan Stanley
Morgan Stanley
New York
-$911K
5
CWM
Centric Wealth Management
Illinois
-$804K
Name Holding Trade Value Shares
Change 		Change in
Stake
GIM
26
Guild Investment Management
California
$654K +$670K +50,000 New
Osaic Holdings
27
Osaic Holdings
Arizona
$601K +$3.19K +238 +0.5%
BFS
28
Bard Financial Services
Connecticut
$562K +$154K +11,500 +37%
CIBC World Market
29
CIBC World Market
Ontario, Canada
$518K +$361K +26,975 +214%
VCWA
30
Vanguard Capital Wealth Advisors
Colorado
$438K +$449K +33,500 New
TSS
31
Two Sigma Securities
New York
$415K +$71.1K +5,308 +20%
ASN
32
Advisory Services Network
Georgia
$385K +$56.2K +4,199 +17%
Group One Trading
33
Group One Trading
Illinois
$375K +$384K +28,694 New
VAM
34
Verity Asset Management
North Carolina
$375K +$128K +9,527 +50%
Mariner
35
Mariner
Kansas
$329K -$80.4K -6,000 -19%
PWM
36
Prosperity Wealth Management
California
$312K +$320K +23,900 New
IAS
37
Insigneo Advisory Services
Florida
$274K +$10.4K +779 +4%
SC
38
Scotia Capital
Ontario, Canada
$273K +$26.4K +1,969 +10%
RIA
39
Realta Investment Advisors
Delaware
$268K +$275K +20,500 New
CWM
40
Centric Wealth Management
Illinois
$265K -$804K -60,000 -75%
SG Americas Securities
41
SG Americas Securities
New York
$257K +$103K +7,700 +64%
Cambridge Investment Research Advisors
42
Cambridge Investment Research Advisors
Iowa
$230K +$235K +17,570 New
HighTower Advisors
43
HighTower Advisors
Illinois
$221K +$226K +16,881 New
SI
44
Saxon Interests
Texas
$199K +$208K +15,513 New
AFG
45
Atomi Financial Group
New York
$178K +$183K +13,654 New
XT
46
XTX Topco
Cayman Islands
$175K -$184K -13,751 -51%
PFS
47
Prospera Financial Services
Texas
$175K +$17.7K +1,320 +11%
BI
48
Bramshill Investments
Florida
$163K -$167K -12,500 -50%
SIS
49
Sound Income Strategies
Florida
$150K +$158K +11,776 New
GRP
50
Global Retirement Partners
California
$147K +$150K +11,212 +186,867%
1
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3 4 5

UNG Hedge Fund Activity: Q3 2025 in Review

91 of the 7,621 institutional investors tracked by Wall St. Rank reported a position in United States Natural Gas Fund (UNG) for Q3 2025, worth a combined $95.8M — up 40% from $68.3M a quarter earlier.

Buyers outnumbered sellers: 26 funds opened new UNG positions and 13 closed out — a net gain of 13 holders — while 31 added to existing stakes and 14 trimmed.

The largest buyer was Corigliano Investment Advisers, opening a new position worth an estimated $10.4M. The largest seller was Jain Global, exiting entirely with an estimated $8.4M sold.

  • 91 institutional investors held United States Natural Gas Fund (UNG) as of Q3 2025, up from 81 in Q2 2025.
  • Funds reported $95.8M of United States Natural Gas Fund stock for Q3 2025, up 40% quarter-over-quarter.
  • 26 funds opened new United States Natural Gas Fund positions in Q3 2025 and 13 closed out, a net change of +13 holders.
  • The largest United States Natural Gas Fund buyer in Q3 2025 was Corigliano Investment Advisers, an estimated $10.4M added.
  • The largest United States Natural Gas Fund seller in Q3 2025 was Jain Global, an estimated $8.4M sold.

Based on aggregated 13F filings for Q3 2025.