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.
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%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
CIA
Corigliano Investment Advisers
Raleigh,
North Carolina
|
+$10.4M |
| 2 |
JF
Jump Financial
Chicago,
Illinois
|
+$7.56M |
| 3 |
IMC Chicago
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
New York
|
-$4.25M |
| 3 |
Citadel Advisors
Miami,
Florida
|
-$1.97M |
| 4 |
Morgan Stanley
New York
|
-$911K |
| 5 |
CWM
Centric Wealth Management
Chicago,
Illinois
|
-$804K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
TWC
101
TD Waterhouse Canada
Toronto,
Ontario, Canada
| – | -$498 | -33 | Closed |
|
102
Raymond James Financial
St Petersburg,
Florida
| – | -$122 | -8 | Closed |
|
|
CFB
103
Cullen/Frost Bankers
San Antonio,
Texas
| – | -$92 | -6 | Closed |
|
|
AF
104
Advisornet Financial
Minnetonka,
Minnesota
| – | -$15 | -1 | Closed |
|
|
HFS
105
Hantz Financial Services
Southfield,
Michigan
| – | +$134 | +10 | New |
|
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.