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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
CCM
76
Chilton Capital Management
Texas
$2.72K – – –
HNB
77
Huntington National Bank
Ohio
$2.61K – – –
Mirae Asset Global Investments
78
Mirae Asset Global Investments
South Korea
$1.71K – – –
PNC Financial Services Group
79
PNC Financial Services Group
Pennsylvania
$1.63K – – –
CTA
80
Colonial Trust Advisors
South Carolina
$980 – – –
GA
81
Guerra Advisors
Florida
$667 +$683 +51 New
Bank of America
82
Bank of America
North Carolina
$654 -$565K -42,215 -100%
LFG
83
Larson Financial Group
Missouri
$627 – – –
AF
84
Allworth Financial
California
$484 – – –
NECFA
85
New England Capital Financial Advisors
Connecticut
$236 – – –
SWP
86
Strategic Wealth Partners
Ohio
$235 – – –
Jones Financial Companies
87
Jones Financial Companies
Missouri
$224 – – –
CTB
88
Country Trust Bank
Illinois
$157 – – –
AssetMark Inc
89
AssetMark Inc
California
$78 -$107 -8 -57%
SS
90
Sunbelt Securities
Texas
$52 – – –
AT
91
Avenir Tech
Hong Kong
$13 – – –
JG
92
Jain Global
New York
– -$8.4M -549,783 Closed
Citadel Advisors
93
Citadel Advisors
Florida
– -$1.97M -147,317 Closed
FSA
94
Financial Services Advisory
Maryland
– -$560K -36,624 Closed
Susquehanna International Group
95
Susquehanna International Group
Pennsylvania
– -$435K -32,457 Closed
HT
96
Headlands Technologies
Illinois
– -$147K -9,618 Closed
US Bancorp
97
US Bancorp
Minnesota
– -$128K -8,381 Closed
T
98
Transce3nd
Texas
– -$125K -8,159 Closed
CIBC Private Wealth Group
99
CIBC Private Wealth Group
Georgia
– -$22.9K -1,500 Closed
SPIA
100
Steward Partners Investment Advisory
New York
– -$3.82K -250 Closed
1 2 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.