United States 12 Month Natural Gas Fund

UNL

Market cap $13.8M

UNL Hedge Fund Activity: Q1 2026 in Review

13 of the 8,130 institutional investors tracked by Wall St. Rank reported a position in United States 12 Month Natural Gas Fund (UNL) for Q1 2026, worth a combined $1.06M — down 31% from $1.53M a quarter earlier.

Sellers outnumbered buyers: 7 funds closed out of UNL and 5 opened new positions — a net loss of 2 holders — while 3 trimmed existing stakes and 0 added.

The largest buyer was Boston Partners, opening a new position worth an estimated $550K. The largest seller was Susquehanna International Group, exiting entirely with an estimated $803K sold.

• 13 institutional investors held United States 12 Month Natural Gas Fund (UNL) as of Q1 2026, down from 15 in Q4 2025.
• Funds reported $1.06M of United States 12 Month Natural Gas Fund stock for Q1 2026, down 31% quarter-over-quarter.
• 5 funds opened new United States 12 Month Natural Gas Fund positions in Q1 2026 and 7 closed out, a net change of -2 holders.
• The largest United States 12 Month Natural Gas Fund buyer in Q1 2026 was Boston Partners, an estimated $550K added.
• The largest United States 12 Month Natural Gas Fund seller in Q1 2026 was Susquehanna International Group, an estimated $803K sold.

Based on aggregated 13F filings for Q1 2026.