United States Natural Gas Fund
UNG
96 hedge funds and large institutions have $57.9M invested in United States Natural Gas Fund in 2025 Q4 according to their latest regulatory filings, with 26 funds opening new positions, 25 increasing their positions, 24 reducing their positions, and 19 closing their positions.
43% more call options, than puts
Call options by funds: $157M | Put options by funds: $110M
37% more first-time investments, than exits
New positions opened: 26 | Existing positions closed: 19
5% more funds holding
Funds holding: 91 → 96 (+5)
4% more repeat investments, than reductions
Existing positions increased: 25 | Existing positions reduced: 24
6.92% less ownership
Funds ownership: 16.16% → 9.23% (-6.9%)
40% less capital invested
Capital invested by funds: $95.8M → $57.9M (-$37.9M)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
AWA
Arkadios Wealth Advisors
Atlanta,
Georgia
|
+$7.08M |
| 2 |
Morgan Stanley
New York
|
+$5.11M |
| 3 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
+$3.75M |
| 4 |
Jane Street
New York
|
+$1.87M |
| 5 |
CCFM
Clear Creek Financial Management
Silverdale,
Washington
|
+$1M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
CIA
Corigliano Investment Advisers
Raleigh,
North Carolina
|
-$10.1M |
| 2 |
IMC Chicago
Chicago,
Illinois
|
-$8.21M |
| 3 |
Goldman Sachs
New York
|
-$8.08M |
| 4 |
JF
Jump Financial
Chicago,
Illinois
|
-$7.39M |
| 5 |
UBS Group
Zurich,
Switzerland
|
-$6.14M |
UNG Hedge Fund Activity: Q4 2025 in Review
96 of the 8,267 institutional investors tracked by Wall St. Rank reported a position in United States Natural Gas Fund (UNG) for Q4 2025, worth a combined $57.9M — down 40% from $95.8M a quarter earlier.
Buyers outnumbered sellers: 26 funds opened new UNG positions and 19 closed out — a net gain of 7 holders — while 25 added to existing stakes and 24 trimmed.
The largest buyer was Arkadios Wealth Advisors, opening a new position worth an estimated $7.08M. The largest seller was Corigliano Investment Advisers, exiting entirely with an estimated $10.1M sold.
- 96 institutional investors held United States Natural Gas Fund (UNG) as of Q4 2025, up from 91 in Q3 2025.
- Funds reported $57.9M of United States Natural Gas Fund stock for Q4 2025, down 40% quarter-over-quarter.
- 26 funds opened new United States Natural Gas Fund positions in Q4 2025 and 19 closed out, a net change of +7 holders.
- The largest United States Natural Gas Fund buyer in Q4 2025 was Arkadios Wealth Advisors, an estimated $7.08M added.
- The largest United States Natural Gas Fund seller in Q4 2025 was Corigliano Investment Advisers, an estimated $10.1M sold.
Based on aggregated 13F filings for Q4 2025.