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United States Natural Gas Fund
UNG

159 hedge funds and large institutions have $331M invested in United States Natural Gas Fund in 2023 Q1 according to their latest regulatory filings, with 78 funds opening new positions, 48 increasing their positions, 11 reducing their positions, and 13 closing their positions.

New
Increased
Maintained
Reduced
Closed

500% more first-time investments, than exits

New positions opened: 78 | Existing positions closed: 13

336% more repeat investments, than reductions

Existing positions increased: 48 | Existing positions reduced: 11

141% more capital invested

Capital invested by funds: $137M → $331M (+$193M)

69% more funds holding

Funds holding: 94 → 159 (+65)

0.81% less ownership

Funds ownership: 8.42% → 7.61% (-0.81%)

19% less call options, than puts

Call options by funds: $174M | Put options by funds: $215M

Holders
159
Holders Change
+65
Holders Change %
+69.15%
% of All Funds
2.53%
Holding in Top 10
4
Holding in Top 10 Change
+4
Holding in Top 10 Change %
% of All Funds
0.06%
New
78
Increased
48
Reduced
11
Closed
13
Calls
$174M
Puts
$215M
Net Calls
-$41.2M
Net Calls Change
-$103M

Top Buyers

1
Jane Street
Jane Street
New York
+$108M
2
Susquehanna International Group
Susquehanna International Group
Pennsylvania
+$45.1M
3
LIM
Longfellow Investment Management
Massachusetts
+$35.1M
4
Wells Fargo
Wells Fargo
California
+$17.5M
5
Morgan Stanley
Morgan Stanley
New York
+$15.6M

Top Sellers

1
Goldman Sachs
Goldman Sachs
New York
-$3.61M
2
Parallax Volatility Advisers
Parallax Volatility Advisers
California
-$1.09M
3
JF
Jump Financial
Illinois
-$439K
4
Janney Montgomery Scott
Janney Montgomery Scott
Pennsylvania
-$349K
5
OBWG
Onyx Bridge Wealth Group
New York
-$322K
Name Holding Trade Value Shares
Change 		Change in
Stake
Jane Street
1
Jane Street
New York
$103M +$108M +2,977,617 +409%
Susquehanna International Group
2
Susquehanna International Group
Pennsylvania
$36.9M +$45.1M +1,241,996 +1,656%
LIM
3
Longfellow Investment Management
Massachusetts
$26.8M +$35.1M +967,171 New
Wells Fargo
4
Wells Fargo
California
$20.6M +$17.5M +482,218 +186%
Morgan Stanley
5
Morgan Stanley
New York
$12.5M +$15.6M +428,503 +1,930%
JP Morgan Chase
6
JP Morgan Chase
New York
$10.2M +$12.5M +344,533 +1,435%
SCM
7
Shah Capital Management
North Carolina
$9.75M +$12.8M +351,250 New
BNP Paribas Financial Markets
8
BNP Paribas Financial Markets
France
$7.31M +$9.2M +253,353 +2,532%
Goldman Sachs
9
Goldman Sachs
New York
$6.94M -$3.61M -99,425 -28%
Bank of Montreal
10
Bank of Montreal
Ontario, Canada
$6.54M +$7.69M +211,700 +918%
AAP
11
Ardsley Advisory Partners
Connecticut
$6.24M +$8.17M +225,000 New
Citadel Advisors
12
Citadel Advisors
Florida
$5.8M +$6.56M +180,625 +635%
Simplex Trading
13
Simplex Trading
Illinois
$4.99M +$5.13M +141,272 +368%
Parallax Volatility Advisers
14
Parallax Volatility Advisers
California
$4.78M -$1.09M -29,888 -15%
IMC Chicago
15
IMC Chicago
Illinois
$4.51M +$2.91M +80,147 +97%
RA
16
Raffles Associates
New York
$3.12M +$4.08M +112,500 New
VF
17
Virtu Financial
New York
$2.96M +$3.77M +103,725 +3,433%
BFA
18
BBJS Financial Advisors
Washington
$2.77M +$3.63M +99,957 New
NL
19
NWAM LLC
Washington
$2.66M +$3.48M +95,747 New
Cetera Investment Advisers
20
Cetera Investment Advisers
Illinois
$2.64M +$3.36M +92,451 +3,509%
Wolverine Trading
21
Wolverine Trading
Illinois
$2.26M +$3.08M +84,715 New
PFS
22
Prospera Financial Services
Texas
$2.21M +$1.31M +35,989 +83%
LP
23
LMR Partners
United Kingdom
$2.15M – – –
Group One Trading
24
Group One Trading
Illinois
$2.1M +$2.74M +75,471 New
UBS Group
25
UBS Group
Switzerland
$2M +$487K +13,423 +23%
1
2 3 4 5

UNG Hedge Fund Activity: Q1 2023 in Review

159 of the 6,275 institutional investors tracked by Wall St. Rank reported a position in United States Natural Gas Fund (UNG) for Q1 2023, worth a combined $331M — up 141% from $137M a quarter earlier.

Buyers outnumbered sellers: 78 funds opened new UNG positions and 13 closed out — a net gain of 65 holders — while 48 added to existing stakes and 11 trimmed.

The largest buyer was Jane Street, adding an estimated $108M. The largest seller was Goldman Sachs, cutting an estimated $3.61M.

  • 159 institutional investors held United States Natural Gas Fund (UNG) as of Q1 2023, up from 94 in Q4 2022.
  • Funds reported $331M of United States Natural Gas Fund stock for Q1 2023, up 141% quarter-over-quarter.
  • 78 funds opened new United States Natural Gas Fund positions in Q1 2023 and 13 closed out, a net change of +65 holders.
  • The largest United States Natural Gas Fund buyer in Q1 2023 was Jane Street, an estimated $108M added.
  • The largest United States Natural Gas Fund seller in Q1 2023 was Goldman Sachs, an estimated $3.61M sold.

Based on aggregated 13F filings for Q1 2023.