Vault-13

UNITED STS NAT GAS FD LP UNG

UNIT PAR · ETP · CUSIP 912318409

91 institutional holders -6 vs Q1 2026
4,966,2895.0m shares reported held*
$58.0mreported value*
13 new 23 added 23 reduced 19 sold out net sold ≈ $9.5m (-807.9k shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Implied quarter-end price ≈ $11.68. Options: 8 managers hold calls ($175.3m notional), 10 hold puts ($52.6m).

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

050100150Q4 22: 1Q1 23: 0Q2 23: 0Q3 23: 0Q4 23: 10Q1 24: 99Q2 24: 103Q3 24: 104Q4 24: 88Q1 25: 79Q2 25: 82Q3 25: 92Q4 25: 97Q1 26: 97Q2 26: 9191Q4 22Q4 23Q4 24Q4 25Q2 26
Numbers
QuarterHolders
Q4 20221
Q1 20230
Q2 20230
Q3 20230
Q4 202310
Q1 202499
Q2 2024103
Q3 2024104
Q4 202488
Q1 202579
Q2 202582
Q3 202592
Q4 202597
Q1 202697
Q2 202691

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
1000100Q3 24: 48 bought or addedQ3 24: 38 cut or sold outQ4 24: 29 bought or addedQ4 24: 59 cut or sold outQ4 24Q1 25: 28 bought or addedQ1 25: 51 cut or sold outQ2 25: 44 bought or addedQ2 25: 35 cut or sold outQ2 25Q3 25: 56 bought or addedQ3 25: 27 cut or sold outQ4 25: 47 bought or addedQ4 25: 43 cut or sold outQ4 25Q1 26: 47 bought or addedQ1 26: 43 cut or sold outQ2 26: 36 bought or addedQ2 26: 42 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q3 20244838
Q4 20242959
Q1 20252851
Q2 20254435
Q3 20255627
Q4 20254743
Q1 20264743
Q2 20263642

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$50m$100m$150m$200mQ3 25 calls: $112.0mQ3 25 puts: $98.7mQ3 25P/C 0.88Q4 25 calls: $156.8mQ4 25 puts: $109.6mQ4 25P/C 0.70Q1 26 calls: $139.8mQ1 26 puts: $67.1mQ1 26P/C 0.48Q2 26 calls: $175.3mQ2 26 puts: $52.6mQ2 26P/C 0.30
Numbers
QuarterCallsPutsP/C
Q3 2025$112.0m$98.7m0.88
Q4 2025$156.8m$109.6m0.70
Q1 2026$139.8m$67.1m0.48
Q2 2026$175.3m$52.6m0.30

Biggest buyers

Quadrature Capital Ltd New +445,945+445.9k
REGIONS FINANCIAL CORP New +180,194+180.2k
UBS Group AG Added +140,113+140.1k
GROUP ONE TRADING LLC Added +124,916+124.9k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added +73,149+73.1k
Clare Market Investments LLC New +68,100+68.1k
JANE STREET GROUP, LLC New +47,618+47.6k
MORGAN STANLEY Added +41,969+42.0k
Integrated Wealth Concepts LLC New +33,998+34.0k
CITIGROUP INC Added +33,540+33.5k

Biggest sellers

Jump Financial, LLC Sold out -856,003-856.0k
WELLS FARGO & COMPANY/MN Reduced -234,496-234.5k
Virtu Financial LLC Sold out -205,851-205.9k
JPMORGAN CHASE & CO Reduced -160,824-160.8k
Kestra Advisory Services, LLC Reduced -127,286-127.3k
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sold out -98,500-98.5k
FLOW TRADERS U.S. LLC Sold out -94,897-94.9k
CIBC WORLD MARKET INC. Sold out -71,000-71.0k
LPL Financial LLC Reduced -46,666-46.7k
Marathon Trading Investment Management LLC Sold out -39,924-39.9k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $93.9m8.0m shares
CITADEL ADVISORS LLC Added $30.8m2.6m shares
GROUP ONE TRADING LLC Reduced $17.8m1.5m shares
IMC-Chicago, LLC Added $13.4m1.1m shares
SIMPLEX TRADING, LLC Reduced $10.5m899.8k shares
JANE STREET GROUP, LLC Reduced $8.3m712.3k shares
MILLENNIUM MANAGEMENT LLC Added $423.1k36.1k shares
Creative Planning New $8.8k10.0k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $22.1m1.9m shares
CITADEL ADVISORS LLC Reduced $9.3m795.9k shares
JANE STREET GROUP, LLC Reduced $8.6m730.5k shares
IMC-Chicago, LLC Reduced $4.7m399.0k shares
GROUP ONE TRADING LLC Reduced $4.1m352.6k shares
SIMPLEX TRADING, LLC Reduced $1.4m122.7k shares
UBS Group AG New $1.2m100.0k shares
HRT FINANCIAL LP Reduced $781.0k66.7k shares
MILLENNIUM MANAGEMENT LLC Added $402.0k34.3k shares
WEALTH ENHANCEMENT ADVISORY SERVICES, LLC New $4.2k400 shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Insider purchases and sales since 1 Apr 2026

Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.

None reported since 1 Apr 2026.

Holders, Q2 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 1,000,1131.0m $11.7m $11.7m 0.00% Unchanged
2 Quadrature Capital Ltd 0.04% of their portfolio LONDON, X0 445,945445.9k $5.2m $5.2m 0.04% New
3 UBS Group AG 0.00% of their portfolio ZURICH, V8 314,784314.8k $3.7m $3.7m 0.00% Added +140.1k +140,113
4 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 312,861312.9k $3.7m $3.7m 0.00% Reduced -234.5k -234,496
5 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 272,736272.7k $3.2m $3.2m 0.00% Added +73.1k +73,149
6 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 240,947240.9k $2.8m $2.8m 0.00% Added +42.0k +41,969
7 Jefferies Financial Group Inc. 0.02% of their portfolio NEW YORK, NY 225,000225.0k $2.6m $2.6m 0.02% Added +25.0k +25,000
8 GROUP ONE TRADING LLC 0.07% of their portfolio CHICAGO, IL 218,171218.2k $2.6m $2.6m 0.07% Added +124.9k +124,916
9 REGIONS FINANCIAL CORP 0.01% of their portfolio BIRMINGHAM, AL 180,194180.2k $2.1m $2.1m 0.01% New
10 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 160,545160.5k $1.9m $1.9m 0.00% Reduced -46.7k -46,666
11 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 157,791157.8k $1.8m $1.8m 0.00% Reduced -160.8k -160,824
12 Daiwa Securities Group Inc. 0.00% of their portfolio CHIYODA-KU,TOKYO, M0 148,393148.4k $1.7m $1.7m 0.00% Reduced -14.9k -14,900
13 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 120,008120.0k $1.4m $1.4m 0.00% Added +33.5k +33,540
14 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 85,51385.5k $906.4k $906.4k 0.00% Added +1.2k +1,200
15 Clare Market Investments LLC 0.15% of their portfolio DALLAS, TX 68,10068.1k $798.1k $798.1k 0.15% New
16 AmeriServ Wealth Advisors 0.47% of their portfolio Johnstown, PA 60,00060.0k $703.2k $703.2k 0.47% Unchanged
17 Realta Investment Advisors 0.19% of their portfolio WILMINGTON, DE 53,51153.5k $627.1k $627.1k 0.19% Reduced -2.5k -2,489
18 Cornerstone Wealth Management, LLC 0.03% of their portfolio ST. PETERS, MO 51,21951.2k $600.3k $600.3k 0.03% Added +11.7k +11,700
19 SCOTIA CAPITAL INC. 0.00% of their portfolio TORONTO, A6 50,87250.9k $596.2k $596.2k 0.00% Added +18.8k +18,836
20 SG Americas Securities, LLC 0.00% of their portfolio NEW YORK, NY 50,21050.2k $588.0k $588.0k 0.00% Reduced -3.0k -3,000
21 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 47,61847.6k $558.1k $558.1k 0.00% New
22 CreativeOne Wealth, LLC 0.01% of their portfolio OVERLAND PARK, KS 42,66542.7k $500.0k $500.0k 0.01% Unchanged
23 NATIXIS 0.00% of their portfolio PARIS, I0 40,75040.8k $477.6k $477.6k 0.00% Unchanged
24 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 39,72639.7k $465.6k $465.6k 0.00% Added +2.2k +2,205
25 Marex Group Ltd 0.00% of their portfolio London, X0 37,95838.0k $444.9k $444.9k 0.00% Reduced -3.0k -2,985
26 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 37,20737.2k $436.1k $436.1k 0.00% Added +8.8k +8,837
27 Mariner, LLC 0.00% of their portfolio Overland Park, KS 36,09036.1k $423.0k $423.0k 0.00% Reduced -184 -184
28 Integrated Wealth Concepts LLC 0.00% of their portfolio WALTHAM, MA 33,99834.0k $398.5k $398.5k 0.00% New
29 Compound Planning, Inc. 0.01% of their portfolio NEW YORK, NY 33,63233.6k $394.2k $394.2k 0.01% Added +7.8k +7,850
30 Kestra Advisory Services, LLC 0.00% of their portfolio AUSTIN, TX 33,54433.5k $393.1k $393.1k 0.00% Reduced -127.3k -127,286
31 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 27,50227.5k $322.3k $322.3k 0.00% Reduced -13.1k -13,139
32 Focus Partners Advisor Solutions, LLC 0.00% of their portfolio SAINT LOUIS, MO 25,00025.0k $293.0k $293.0k 0.00% Added +15.0k +15,000
33 INSIGNEO ADVISORY SERVICES, LLC 0.01% of their portfolio MIAMI, FL 24,50924.5k $287.2k $287.2k 0.01% Added +3.3k +3,300
34 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 23,84523.8k $279.5k $279.5k 0.00% Added +8.9k +8,900
35 Vanguard Capital Wealth Advisors 0.19% of their portfolio DENVER, CO 23,50023.5k $275.4k $275.4k 0.19% Reduced -1.0k -1,000
36 IHT Wealth Management, LLC 0.01% of their portfolio Chicago, IL 21,32521.3k $249.9k $249.9k 0.01% Reduced -5.3k -5,300
37 Centric Wealth Management 0.03% of their portfolio CHICAGO, IL 20,00020.0k $195.4k $195.4k 0.03% New
38 Steward Partners Investment Advisory, LLC 0.00% of their portfolio STAMFORD, CT 19,65119.7k $230.3k $230.3k 0.00% Added +4.3k +4,255
39 MAI Capital Management 0.00% of their portfolio INDEPENDENCE, OH 17,21317.2k $201.7k $201.7k 0.00% Added +16.6k +16,595
40 Sigma Planning Corp 0.00% of their portfolio ANN ARBOR, MI 15,23415.2k $178.5k $178.5k 0.00% Added +1.6k +1,592
41 Axiom Investment Management LLC 0.12% of their portfolio NEW YORK, NY 14,80014.8k $173.5k $173.5k 0.12% Reduced -4.7k -4,700
42 CHIRON CAPITAL MANAGEMENT, LLC 0.14% of their portfolio TALLAHASSEE, FL 13,00313.0k $152.4k $152.4k 0.14% Reduced -600 -600
43 PFG Investments, LLC 0.01% of their portfolio WOODBURY, NY 12,98713.0k $152.2k $152.2k 0.01% Reduced -925 -925
44 TWO SIGMA SECURITIES, LLC 0.01% of their portfolio NEW YORK, NY 12,95313.0k $151.8k $151.8k 0.01% Reduced -5.7k -5,711
45 Advisory Services Network, LLC 0.00% of their portfolio ATLANTA, GA 11,88711.9k $139.3k $139.3k 0.00% Reduced -2.8k -2,826
46 Prospera Financial Services Inc 0.00% of their portfolio Dallas, TX 11,68711.7k $137.0k $137.0k 0.00% Reduced -2.9k -2,899
47 Clearstead Advisors, LLC 0.00% of their portfolio CLEVELAND, OH 10,00010.0k $117.2k $117.2k 0.00% Unchanged
48 Global Retirement Partners, LLC 0.00% of their portfolio San Rafael, CA 9,0369.0k $105.9k $105.9k 0.00% First filing
49 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 8,6438.6k $101.3k $101.3k 0.00% Added +716 +716
50 PRIVATE TRUST CO NA 0.01% of their portfolio CLEVELAND, OH 6,0006.0k $70.3k $70.3k 0.01% Unchanged
51 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 4,0004.0k $46.9k $46.9k 0.00% Unchanged
52 Larson Financial Group LLC 0.00% of their portfolio ST LOUIS, MO 3,7413.7k $43.8k $43.8k 0.00% Added +3.2k +3,225
53 Main Street Group, LTD 0.01% of their portfolio GLEN ALLEN, VA 3,5703.6k $41.8k $41.8k 0.01% Unchanged
54 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 3,5413.5k $41.0k $41.0k 0.00% Reduced -4.0k -3,997
55 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 3,4553.5k $40.5k $40.5k 0.00% Reduced -371 -371
56 FIFTH THIRD BANCORP 0.00% of their portfolio CINCINNATI, OH 3,0003.0k $35.2k $35.2k 0.00% Reduced -178 -178
57 COMPASS FINANCIAL MANAGEMENT LLC 0.00% of their portfolio TAMPA, FL 2,1772.2k $22.6k $22.6k 0.00% First filing
58 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 1,9692.0k $23.1k $23.1k 0.00% Unchanged
59 IFS Advisors, LLC 0.01% of their portfolio OVERLAND PARK, KS 1,7751.8k $20.8k $20.8k 0.01% Unchanged
60 HARBOUR INVESTMENTS, INC. 0.00% of their portfolio MADISON, WI 1,6651.7k $19.5k $19.5k 0.00% Added +689 +689
61 Rockefeller Capital Management L.P. 0.00% of their portfolio NEW YORK, NY 1,1851.2k $13.9k $13.9k 0.00% Added +500 +500
62 SIGNATUREFD, LLC 0.00% of their portfolio ATLANTA, GA 1,0001.0k $11.7k $11.7k 0.00% Unchanged
63 Spire Wealth Management 0.00% of their portfolio MCLEAN, VA 703703 $8.2k $8.2k 0.00% New
64 LANARK FINANCIAL, INC. 0.00% of their portfolio BIRMINGHAM, AL 660660 $7.7k $7.7k 0.00% Unchanged
65 Financial Management Professionals, Inc. 0.00% of their portfolio AUSTIN, TX 504504 $5.9k $5.9k 0.00% New
66 Cullen/Frost Bankers, Inc. 0.00% of their portfolio San Antonio, TX 500500 $5.9k $5.9k 0.00% Unchanged
67 Hilltop National Bank 0.00% of their portfolio CASPER, WY 500500 $5.9k $5.9k 0.00% Unchanged
68 Signature Equity Partners, LLC 0.00% of their portfolio COLUMBUS, OH 464464 $5.4k $5.4k 0.00% New
69 Farther Finance Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 432432 $5.1k $5.1k 0.00% Unchanged
70 Quent Capital, LLC 0.00% of their portfolio NEW YORK, NY 374374 $4.4k $4.4k 0.00% Unchanged
71 Arax Advisory Partners 0.00% of their portfolio NEW YORK, NY 360360 $4.2k $4.2k 0.00% New
72 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 355355 $4.2k $4.2k 0.00% New
73 Parallel Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 288288 $3.4k $3.4k 0.00% Unchanged
74 Cheviot Value Management, LLC 0.00% of their portfolio BEVERLY HILLS, CA 240240 $2.8k $2.8k 0.00% Unchanged
75 CHILTON CAPITAL MANAGEMENT LLC 0.00% of their portfolio HOUSTON, TX 208208 $2.4k $2.4k 0.00% Unchanged
76 HUNTINGTON NATIONAL BANK 0.00% of their portfolio COLUMBUS, OH 200200 $2.3k $2.3k 0.00% Unchanged
77 Legacy Bridge, LLC 0.00% of their portfolio WEST DES MOINES, IA 125125 $1.5k $1.5k 0.00% Unchanged
78 Mirae Asset Global Investments Co., Ltd. 0.00% of their portfolio SEOUL, M5 115115 $1.3k $1.3k 0.00% Reduced -5 -5
79 Triumph Capital Management 0.00% of their portfolio DENVER, CO 100100 $1.2k $1.2k 0.00% New
80 NATIONAL BANK OF CANADA /FI/ 0.00% of their portfolio MONTREAL, A8 8585 $996 $996 0.00% New
81 Tower Research Capital LLC (TRC) 0.00% of their portfolio NEW YORK, NY 7575 $879 $879 0.00% Added +12 +12
82 Colonial Trust Advisors 0.00% of their portfolio SPARTANBURG, SC 7575 $879 $879 0.00% Unchanged
83 UMB Bank, n.a. 0.00% of their portfolio Kansas City, MO 5050 $586 $586 0.00% Unchanged
84 INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC 0.00% of their portfolio ORLANDO, FL 3838 $438 $438 0.00% Reduced -1.8k -1,750
85 BESSEMER GROUP INC 0.00% of their portfolio WOODBRIDGE, NJ 2323 $0 $0 0.00% Unchanged
86 Strategic Wealth Partners, Ltd. 0.00% of their portfolio INDEPENDENCE, OH 1818 $211 $211 0.00% Unchanged
87 New England Capital Financial Advisors LLC 0.00% of their portfolio MERIDEN, CT 1818 $211 $211 0.00% Unchanged
88 COUNTRY TRUST BANK 0.00% of their portfolio Bloomington, IL 1212 $141 $141 0.00% Unchanged
89 HANTZ FINANCIAL SERVICES, INC. 0.00% of their portfolio SOUTHFIELD, MI 66 $0 $0 0.00% Unchanged
90 ASSETMARK, INC 0.00% of their portfolio CONCORD, CA 66 $70 $70 0.00% Unchanged
91 BAYBAN 0.00% of their portfolio Bayport, MN 11 $12 $12 0.00% Unchanged