United States Natural Gas Fund, LP

UNG • ARCX

United States Natural Gas Fund, LP is a publicly traded company on ARCX. As of Q3 2025, 79 institutional investors hold shares in this company, with total holdings valued at $81.2M. GOLDMAN SACHS GROUP INC is the largest holder with a position valued at $12.0M.

Country

United States of America

Overview

Overview of institutional ownership in UNG as of Q3 2025

All Institutions

Institutions: 79
Value Held: $81.2M
Shares Held: 6.2M
Avg Position: $1.0M
Median Position: $174.8K

Hedge Funds

Hedge Funds: 4
Value Held: $10.3M
Shares Held: 789.4K
Avg Position: $2.6M
Median Position: $104.4K

Biggest Investors

Institutions with the largest positions in UNG as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
GOLDMAN SACHS GROUP INC Institution	David M. Solomon CEO	$12.0M 0.00% of portfolio	0.00% 920.8K shares	Q1 2023 Held for 2y 8m	$691.34B
Corigliano Investment Advisers, LLC Hedge Fund•Sector	Mark E Corigliano CEO	$10.1M 3.28% of portfolio	0.00% 773.1K shares	Q3 2025 Held for 2 months	$308.5M
IMC-Chicago, LLC RIA/Wealth	Donald Louis Michael CEO	$8.0M 0.14% of portfolio	0.00% 610.2K shares	Q4 2023 Held for 1y 11m	$5.6B
J Jump Financial, LLC Institution	-	$7.4M 0.10% of portfolio	0.00% 564.3K shares	Q1 2025 Held for 8 months	$7.4B
UBS Group AG Institution	Sergio P. Ermotti CEO	$7.2M 0.00% of portfolio	0.00% 553.3K shares	Q3 2025 Held for 2 months	$511.54B
J JANE STREET GROUP, LLC Institution	-	$3.9M 0.00% of portfolio	0.00% 296.0K shares	Q4 2022 Held for 2y 11m	$84.1B
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$3.6M 0.00% of portfolio	0.00% 279.0K shares	Q4 2022 Held for 2y 11m	$1.65T
JPMORGAN CHASE & CO Institution	Jamie Dimon CEO	$2.9M 0.00% of portfolio	0.00% 220.6K shares	Q1 2023 Held for 2y 8m	$1.56T
WELLS FARGO & COMPANY/MN Institution	Charles W. Scharf CEO	$2.9M 0.00% of portfolio	0.00% 218.9K shares	Q4 2022 Held for 2y 11m	$488.50B
L LPL Financial LLC Institution	-	$2.2M 0.00% of portfolio	0.00% 165.2K shares	Q4 2022 Held for 2y 11m	$340.07B

Net Capital Flow

Institutional buying and selling activity for UNG in Q3 2025

Traded: +$25.5M
Buyers: 52
Sellers: 21
Total Bought: +$43.0M
Total Sold: −$17.5M
Avg Position: $863.6K

Biggest Buyers

Institution	Net Bought	Current Position
Corigliano Investment Advisers, LLC Hedge Fund•Sector	+$10.1M +773.1K shares	$10.1M 773.1K shares
J Jump Financial, LLC Institution	+$7.4M +564.3K shares	$7.4M 564.3K shares
IMC-Chicago, LLC RIA/Wealth	+$5.7M +438.5K shares	$8.0M 610.2K shares
UBS Group AG Institution	+$3.5M +266.2K shares	$7.2M 553.3K shares
J JANE STREET GROUP, LLC Institution	+$2.3M +174.9K shares	$3.9M 296.0K shares
JPMORGAN CHASE & CO Institution	+$2.1M +159.1K shares	$2.9M 220.6K shares
Perissos Private Wealth Management, LLC RIA/Wealth	+$1.3M +100.3K shares	$1.3M 100.3K shares
Kestra Advisory Services, LLC RIA/Wealth	+$1.0M +79.8K shares	$1.0M 79.8K shares
L LPL Financial LLC Institution	+$811.8K +62.1K shares	$2.2M 165.2K shares
BARCLAYS PLC Institution	+$787.1K +32.1K shares	$787.1K 60.2K shares

Biggest Sellers

Institution	Net Sold	Current Position
Jain Global LLC Hedge Fund•Multi-Strategy	−$8.4M −549.8K shares	Sold Off 0 shares
GOLDMAN SACHS GROUP INC Institution	−$4.1M −317.4K shares	$12.0M 920.8K shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	−$2.3M −147.3K shares	Sold Off 0 shares
MORGAN STANLEY RIA/Wealth	−$889.1K −68.0K shares	$3.6M 279.0K shares
Financial Services Advisory Inc RIA/Wealth	−$559.6K −36.6K shares	Sold Off 0 shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	−$495.9K −32.5K shares	Sold Off 0 shares
X XTX Topco Ltd Institution	−$179.7K −13.8K shares	$175.1K 13.4K shares
H Headlands Technologies LLC Institution	−$147.0K −9.6K shares	Sold Off 0 shares
$US BANCORP \DE\ logo$ US BANCORP \DE\ Institution	−$128.1K −8.4K shares	Sold Off 0 shares
Transce3nd, LLC RIA/Wealth	−$124.7K −8.2K shares	Sold Off 0 shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited UNG in Q3 2025

New Positions: 11
New Value: $13.5M
Exited Positions: 13
Exited Value: $12.1M

New Positions

Institution	Position Value
Corigliano Investment Advisers, LLC Hedge Fund•Sector	$10.1M 773.1K shares
Perissos Private Wealth Management, LLC RIA/Wealth	$1.3M 100.3K shares
BARCLAYS PLC Institution	$787.1K 60.2K shares
P PFG Investments, LLC Institution	$715.1K 54.7K shares
P Prosperity Wealth Management, Inc. RIA/Wealth	$312.4K 23.9K shares
Bramshill Investments, LLC Hedge Fund•Multi-Strategy	$163.4K 12.5K shares
MML INVESTORS SERVICES, LLC RIA/Wealth	$134.0K 10.3K shares
T Turning Point Benefit Group, Inc. Institution	$6.2K 455.0 shares
NBC SECURITIES, INC. RIA/Wealth	$3.3K 250.0 shares
Guerra Advisors Inc RIA/Wealth	$667.0 51.0 shares

Exited Positions

Institution	Previous Position
Jain Global LLC Hedge Fund•Multi-Strategy	$8.4M 549.8K shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$2.3M 147.3K shares
Financial Services Advisory Inc RIA/Wealth	$559.6K 36.6K shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$495.9K 32.5K shares
H Headlands Technologies LLC Institution	$147.0K 9.6K shares
$US BANCORP \DE\ logo$ US BANCORP \DE\ Institution	$128.1K 8.4K shares
Transce3nd, LLC RIA/Wealth	$124.7K 8.2K shares
A Atlantic Trust Group, LLC Institution	$22.9K 1.5K shares
Steward Partners Investment Advisory, LLC RIA/Wealth	$3.8K 250.0 shares
T TD Waterhouse Canada Inc. Institution	$498.0 33.0 shares

Options Activity

Institutions with the largest Call and Put options positions in UNG as of Q3 2025

Call Positions: 8
Call Value: $91.0M
Put Positions: 7
Put Value: $81.8M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$70.1M 53.6K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$14.9M 11.4K contracts
J JANE STREET GROUP, LLC Institution	$4.4M 3.4K contracts
BANK OF MONTREAL /CAN/ Institution	$784.2K 600.0 contracts
P Parallax Volatility Advisers, LLC Hedge Fund•Vol Arbitrage	$392.1K 300.0 contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$222.2K 170.0 contracts
S Squarepoint Ops LLC Hedge Fund•Quant	$200.0K 153.0 contracts
CITIGROUP INC Institution	- - contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$63.7M 48.7K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$12.3M 9.4K contracts
J JANE STREET GROUP, LLC Institution	$5.3M 4.0K contracts
GOLDMAN SACHS GROUP INC Institution	$271.9K 208.0 contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$180.4K 138.0 contracts
HighTower Advisors, LLC RIA/Wealth	$4.4K 32.0 contracts
P Polymer Capital Management LLC Hedge Fund•Multi-Strategy	- - contracts

Most Committed Institutions

Institutions with UNG as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Corigliano Investment Advisers, LLC Hedge Fund•Sector	Mark E Corigliano CEO	3.28% $10.1M	0.00% 773.1K shares	Q3 2025 Held for 2 months	$308.5M
Perissos Private Wealth Management, LLC RIA/Wealth	Brandon Heath Vanlandingham Managing Partner	0.95% $1.3M	0.00% 100.3K shares	Q3 2025 Held for 2 months	$137.3M
Guild Investment Management, Inc. RIA/Wealth	Jr. Montague Guild Founder	0.52% $653.5K	0.00% 50.0K shares	Q3 2025 Held for 2 months	$126.0M
WEST CHESTER CAPITAL ADVISORS, INC RIA/Wealth	Frank Joseph Lapinsky CEO	0.40% $784.2K	0.00% 60.0K shares	Q3 2025 Held for 2 months	$197.9M
Vanguard Capital Wealth Advisors RIA/Wealth	Vincent Mark Polivka Member	0.35% $437.8K	0.00% 33.5K shares	Q3 2025 Held for 2 months	$124.1M
IMC-Chicago, LLC RIA/Wealth	Donald Louis Michael CEO	0.14% $8.0M	0.00% 610.2K shares	Q4 2023 Held for 1y 11m	$5.6B
Verity Asset Management, Inc. RIA/Wealth	Sean Jennings Mcgill President	0.12% $374.6K	0.00% 28.7K shares	Q1 2025 Held for 8 months	$304.9M
P Prosperity Wealth Management, Inc. RIA/Wealth	Gregory John Bentley Owner	0.11% $312.4K	0.00% 23.9K shares	Q3 2025 Held for 2 months	$287.4M
J Jump Financial, LLC Institution	-	0.10% $7.4M	0.00% 564.3K shares	Q1 2025 Held for 8 months	$7.4B
Coastal Investment Advisors, Inc. RIA/Wealth	Elizabeth Anne Legacy President	0.09% $267.9K	0.00% 20.5K shares	Q3 2025 Held for 2 months	$298.9M

Hedge Fund Spotlight

Discover hedge funds investing in UNG

Parallax Volatility Advisers, LLC

Hedge Fund • Vol Arbitrage

Portfolio ManagerWilliam Frederick Bartlett

Portfolio Value: $3.0B
Positions: 449
Last Reported: Q3 2025

Sector Allocation

Position in United States Natural Gas Fund, LP

Market Value: $45.4K
Shares Held: 3.5K
Portfolio Weight: 0.00%
Owned Since: 2025-Q3

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