United States 12 Month Natural Gas Fund
13 hedge funds and large institutions have $1.06M invested in United States 12 Month Natural Gas Fund in 2026 Q1 according to their latest regulatory filings, with 5 funds opening new positions, increasing their positions, 3 reducing their positions, and 7 closing their positions.
32,600% more call options, than puts
Call options by funds: $327K | Put options by funds: $1K
1.29% less ownership
Funds ownership: 8.12% → 6.84% (-1.3%)
13% less funds holding
Funds holding: 15 → 13 (-2)
29% less first-time investments, than exits
New positions opened: 5 | Existing positions closed: 7
31% less capital invested
Capital invested by funds: $1.53M → $1.06M (-$468K)
100% less repeat investments, than reductions
Existing positions increased: 0 | Existing positions reduced: 3
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Boston Partners
Boston,
Massachusetts
|
+$550K |
| 2 |
Jane Street
New York
|
+$153K |
| 3 |
FTUS
Flow Traders U.S.
New York
|
+$111K |
| 4 |
HF
HRT Financial
New York
|
+$87.7K |
| 5 |
TRCT
Tower Research Capital (TRC)
New York
|
+$122 |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
-$803K |
| 2 |
Belvedere Trading
Chicago,
Illinois
|
-$163K |
| 3 |
Citadel Advisors
Miami,
Florida
|
-$115K |
| 4 |
SG
StoneX Group
New York
|
-$92.4K |
| 5 |
Simplex Trading
Chicago,
Illinois
|
-$52.3K |
UNL Hedge Fund Activity: Q1 2026 in Review
13 of the 8,206 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.