We are live on ! Find out more
UNG icon

United States Natural Gas Fund
UNG

81 hedge funds and large institutions have $68.3M invested in United States Natural Gas Fund in 2025 Q2 according to their latest regulatory filings, with 21 funds opening new positions, 26 increasing their positions, 17 reducing their positions, and 18 closing their positions.

New
Increased
Maintained
Reduced
Closed

53% more repeat investments, than reductions

Existing positions increased: 26 | Existing positions reduced: 17

17% more first-time investments, than exits

New positions opened: 21 | Existing positions closed: 18

4% more funds holding

Funds holding: 78 → 81 (+3)

4% more call options, than puts

Call options by funds: $97.5M | Put options by funds: $93.5M

19.04% less ownership

Funds ownership: 38.68% → 19.63% (-19%)

59% less capital invested

Capital invested by funds: $168M → $68.3M (-$100M)

Holders
81
Holders Change
+3
Holders Change %
+3.85%
% of All Funds
1.07%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
21
Increased
26
Reduced
17
Closed
18
Calls
$97.5M
Puts
$93.5M
Net Calls
+$4M
Net Calls Change
-$65.1M

Top Buyers

Rank Fund Capital Flow
1
JG
Jain Global
New York
+$9.48M
2
UBS Group
UBS Group
Switzerland
+$3.14M
3
CWM
Centric Wealth Management
Illinois
+$1.38M
4
JP Morgan Chase
JP Morgan Chase
New York
+$1.06M
5
Cetera Investment Advisers
Cetera Investment Advisers
Illinois
+$790K

Top Sellers

Rank Fund Capital Flow
1
BNP Paribas Financial Markets
BNP Paribas Financial Markets
France
-$28.1M
2
Morgan Stanley
Morgan Stanley
New York
-$14.4M
3
Susquehanna International Group
Susquehanna International Group
Pennsylvania
-$12M
4
JF
Jump Financial
Illinois
-$11.4M
5
Citadel Advisors
Citadel Advisors
Florida
-$4.42M
Name Holding Trade Value Shares
Change 		Change in
Stake
CIBC Private Wealth Group
51
CIBC Private Wealth Group
Georgia
$22.9K -$172 -10 -0.7%
HI
52
Harbour Investments
Wisconsin
$20.5K +$15.9K +923 +222%
MCM
53
MAI Capital Management
Ohio
$9.44K – – –
HNB
54
Hilltop National Bank
Wyoming
$7.64K +$8.62K +500 New
PA
55
Parallel Advisors
California
$4.4K -$29.5K -1,712 -86%
SPIA
56
Steward Partners Investment Advisory
New York
$3.82K – – –
CCM
57
Chilton Capital Management
Texas
$3.18K – – –
CVM
58
Cheviot Value Management
California
$3.17K – – –
NS
59
NBC Securities
Alabama
$3K – – –
Mirae Asset Global Investments
60
Mirae Asset Global Investments
South Korea
$2K +$103 +6 +5%
FFO
61
Fortitude Family Office
Arizona
$2K +$2.26K +131 New
SHF
62
Safe Harbor Fiduciary
Florida
$1.91K -$431 -25 -17%
PNC Financial Services Group
63
PNC Financial Services Group
Pennsylvania
$1.91K – – –
FFA
64
Farther Finance Advisors
California
$1.53K – – –
CTA
65
Colonial Trust Advisors
South Carolina
$1.15K – – –
LFG
66
Larson Financial Group
Missouri
$733 – – –
AF
67
Allworth Financial
California
$566 +$431 +25 +208%
MWA
68
Moser Wealth Advisors
Washington
$565 +$638 +37 New
TWC
69
TD Waterhouse Canada
Ontario, Canada
$498 -$53.3K -3,089 -99%
Jones Financial Companies
70
Jones Financial Companies
Missouri
$298 – – –
NECFA
71
New England Capital Financial Advisors
Connecticut
$276 – – –
SWP
72
Strategic Wealth Partners
Ohio
$275 +$310 +18 New
TRCT
73
Tower Research Capital (TRC)
New York
$214 +$103 +6 +75%
AssetMark Inc
74
AssetMark Inc
California
$214 +$241 +14 New
CTB
75
Country Trust Bank
Illinois
$183 +$207 +12 New
1 2
3
4

UNG Hedge Fund Activity: Q2 2025 in Review

81 of the 7,596 institutional investors tracked by Wall St. Rank reported a position in United States Natural Gas Fund (UNG) for Q2 2025, worth a combined $68.3M — down 59% from $168M a quarter earlier.

Buyers outnumbered sellers: 21 funds opened new UNG positions and 18 closed out — a net gain of 3 holders — while 26 added to existing stakes and 17 trimmed.

The largest buyer was Jain Global, opening a new position worth an estimated $9.48M. The largest seller was BNP Paribas Financial Markets, cutting an estimated $28.1M.

  • 81 institutional investors held United States Natural Gas Fund (UNG) as of Q2 2025, up from 78 in Q1 2025.
  • Funds reported $68.3M of United States Natural Gas Fund stock for Q2 2025, down 59% quarter-over-quarter.
  • 21 funds opened new United States Natural Gas Fund positions in Q2 2025 and 18 closed out, a net change of +3 holders.
  • The largest United States Natural Gas Fund buyer in Q2 2025 was Jain Global, an estimated $9.48M added.
  • The largest United States Natural Gas Fund seller in Q2 2025 was BNP Paribas Financial Markets, an estimated $28.1M sold.

Based on aggregated 13F filings for Q2 2025.