United States 12 Month Natural Gas Fund
14 hedge funds and large institutions have $2.51M invested in United States 12 Month Natural Gas Fund in 2025 Q2 according to their latest regulatory filings, with 2 funds opening new positions, 2 increasing their positions, 4 reducing their positions, and 7 closing their positions.
14,489% more call options, than puts
Call options by funds: $1.31M | Put options by funds: $9K
4.79% less ownership
Funds ownership: 26.09% → 21.3% (-4.8%)
26% less funds holding
Funds holding: 19 → 14 (-5)
41% less capital invested
Capital invested by funds: $4.27M → $2.51M (-$1.76M)
50% less repeat investments, than reductions
Existing positions increased: 2 | Existing positions reduced: 4
71% less first-time investments, than exits
New positions opened: 2 | Existing positions closed: 7
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Citadel Advisors
Miami,
Florida
|
+$240K |
| 2 |
FSA
Financial Services Advisory
Rockville,
Maryland
|
+$70.2K |
| 3 |
Group One Trading
Chicago,
Illinois
|
+$69.2K |
| 4 |
AAS
Ameritas Advisory Services
Lincoln,
Nebraska
|
+$16.6K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
VF
Virtu Financial
New York
|
-$636K |
| 2 |
Jane Street
New York
|
-$282K |
| 3 |
Belvedere Trading
Chicago,
Illinois
|
-$249K |
| 4 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
-$242K |
| 5 |
Simplex Trading
Chicago,
Illinois
|
-$88K |
UNL Hedge Fund Activity: Q2 2025 in Review
14 of the 7,616 institutional investors tracked by Wall St. Rank reported a position in United States 12 Month Natural Gas Fund (UNL) for Q2 2025, worth a combined $2.51M — down 41% from $4.27M a quarter earlier.
Sellers outnumbered buyers: 7 funds closed out of UNL and 2 opened new positions — a net loss of 5 holders — while 4 trimmed existing stakes and 2 added.
The largest buyer was Citadel Advisors, opening a new position worth an estimated $240K. The largest seller was Virtu Financial, exiting entirely with an estimated $636K sold.
- 14 institutional investors held United States 12 Month Natural Gas Fund (UNL) as of Q2 2025, down from 19 in Q1 2025.
- Funds reported $2.51M of United States 12 Month Natural Gas Fund stock for Q2 2025, down 41% quarter-over-quarter.
- 2 funds opened new United States 12 Month Natural Gas Fund positions in Q2 2025 and 7 closed out, a net change of -5 holders.
- The largest United States 12 Month Natural Gas Fund buyer in Q2 2025 was Citadel Advisors, an estimated $240K added.
- The largest United States 12 Month Natural Gas Fund seller in Q2 2025 was Virtu Financial, an estimated $636K sold.
Based on aggregated 13F filings for Q2 2025.