United States 12 Month Natural Gas Fund
15 hedge funds and large institutions have $1.53M invested in United States 12 Month Natural Gas Fund in 2025 Q4 according to their latest regulatory filings, with 7 funds opening new positions, 0 increasing their positions, 2 reducing their positions, and 2 closing their positions.
250% more first-time investments, than exits
New positions opened: 7 | Existing positions closed: 2
101% more capital invested
Capital invested by funds: $760K → $1.53M (+$770K)
50% more funds holding
Funds holding: 10 → 15 (+5)
0.9% more ownership
Funds ownership: 7.22% → 8.12% (+0.9%)
73% less call options, than puts
Call options by funds: $64K | Put options by funds: $238K
100% less repeat investments, than reductions
Existing positions increased: 0 | Existing positions reduced: 2
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
+$867K |
| 2 |
Belvedere Trading
Chicago,
Illinois
|
+$300K |
| 3 |
SG
StoneX Group
New York
|
+$99.8K |
| 4 |
Simplex Trading
Chicago,
Illinois
|
+$57.9K |
| 5 |
Barclays
London,
United Kingdom
|
+$50.7K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
MWM
Meridian Wealth Management
Lexington,
Kentucky
|
-$439K |
| 2 |
Citadel Advisors
Miami,
Florida
|
-$96.1K |
| 3 |
AAS
Ameritas Advisory Services
Lincoln,
Nebraska
|
-$14.2K |
| 4 |
Osaic Holdings
Scottsdale,
Arizona
|
-$1.99K |
UNL Hedge Fund Activity: Q4 2025 in Review
15 of the 8,238 institutional investors tracked by Wall St. Rank reported a position in United States 12 Month Natural Gas Fund (UNL) for Q4 2025, worth a combined $1.53M — up 101% from $760K a quarter earlier.
Buyers outnumbered sellers: 7 funds opened new UNL positions and 2 closed out — a net gain of 5 holders — while 0 added to existing stakes and 2 trimmed.
The largest buyer was Susquehanna International Group, opening a new position worth an estimated $867K. The largest seller was Meridian Wealth Management, exiting entirely with an estimated $439K sold.
- 15 institutional investors held United States 12 Month Natural Gas Fund (UNL) as of Q4 2025, up from 10 in Q3 2025.
- Funds reported $1.53M of United States 12 Month Natural Gas Fund stock for Q4 2025, up 101% quarter-over-quarter.
- 7 funds opened new United States 12 Month Natural Gas Fund positions in Q4 2025 and 2 closed out, a net change of +5 holders.
- The largest United States 12 Month Natural Gas Fund buyer in Q4 2025 was Susquehanna International Group, an estimated $867K added.
- The largest United States 12 Month Natural Gas Fund seller in Q4 2025 was Meridian Wealth Management, an estimated $439K sold.
Based on aggregated 13F filings for Q4 2025.