# United States Natural Gas Fund, LP: overview

UNG · NYSE · CIK 1376227 · [Financials](/sectors/financials.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/ung.md) · [Financials](/companies/ung/financials.md) · [Filings](/companies/ung/filings.md) · [Insiders](/companies/ung/insiders.md)

Latest reported revenue: [$5.4m](/filings/0001104659-26-021507.md) for Q4 FY2025, three months to 2025-12-31, from the 10-K filed Feb 27, 2026 (XBRL us-gaap:Revenues, accession 0001104659-26-021507).

## Last eight quarters

| Line item | Unit | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [4.4](/filings/0001104659-26-021507.md) | [56.2](/filings/0001104659-26-021507.md) | [211](/filings/0001104659-26-021507.md) | [(121)](/filings/0001104659-26-021507.md) | [(54.5)](/filings/0001104659-26-021507.md) | [5.4](/filings/0001104659-26-021507.md) | not reported | not reported |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Net margin | % | [42.8%](/filings/0001104659-26-021507.md) | [95.5%](/filings/0001104659-26-021507.md) | [99.1%](/filings/0001104659-26-057766.md) | [100.9%](/filings/0001104659-26-092626.md) | [102.5%](/filings/0001104659-26-021507.md) | [68.9%](/filings/0001104659-26-021507.md) | not reported | not reported |
| Diluted EPS | $ per share | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Free cash flow | $m | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |

- Revenue. XBRL Revenue: us-gaap:Revenues.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:Revenues.
- Operating margin (operating income / revenue). XBRL Revenue: us-gaap:Revenues.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:Revenues.
- Diluted EPS. XBRL not reported.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities. Derived values: 9-month figure less the 6-month figure; 12-month figure less the 9-month figure; 6-month figure less the 3-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [22.1](/filings/0001410578-23-000179.md) | [80.0](/filings/0001410578-23-000179.md) | not reported | not reported | not reported |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | not reported | not reported | not reported | not reported | not reported |
| Net margin | % | [83.1%](/filings/0001410578-24-000105.md) | [93.8%](/filings/0001410578-25-000230.md) | not reported | not reported | not reported |
| Diluted EPS | $ per share | not reported | not reported | not reported | not reported | not reported |
| Free cash flow | $m | not reported | not reported | not reported | not reported | not reported |

- Revenue. XBRL Revenue: us-gaap:Revenues.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:Revenues.
- Operating margin (operating income / revenue). XBRL Revenue: us-gaap:Revenues.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:Revenues.
- Diluted EPS. XBRL not reported.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/ung/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [SUSQUEHANNA INTERNATIONAL GROUP, LLP](/funds/1446194.md) | 2026-06-30 | $93.9m | 8,014,400 | Call | Added +3,532,500 |
| [CITADEL ADVISORS LLC](/funds/1423053.md) | 2026-06-30 | $30.8m | 2,628,300 | Call | Added +615,100 |
| [SUSQUEHANNA INTERNATIONAL GROUP, LLP](/funds/1446194.md) | 2026-06-30 | $22.1m | 1,887,300 | Put | Reduced −257,100 |
| [GOLDMAN SACHS GROUP INC](/funds/886982.md) | 2026-06-30 | $11.7m | 1,000,113 |  | Unchanged |
| [CITADEL ADVISORS LLC](/funds/1423053.md) | 2026-06-30 | $9.3m | 795,900 | Put | Reduced −381,700 |
| [JANE STREET GROUP, LLC](/funds/1595888.md) | 2026-06-30 | $8.6m | 730,500 | Put | Reduced −243,500 |
| [JANE STREET GROUP, LLC](/funds/1595888.md) | 2026-06-30 | $8.3m | 712,300 | Call | Reduced −403,100 |
| [Quadrature Capital Ltd](/funds/1651424.md) | 2026-06-30 | $5.2m | 445,945 |  | New +445,945 |
| [UBS Group AG](/funds/1610520.md) | 2026-06-30 | $3.7m | 314,784 |  | Added +140,113 |
| [WELLS FARGO & COMPANY/MN](/funds/72971.md) | 2026-06-30 | $3.7m | 312,861 |  | Reduced −234,496 |

## Recent filings

[All 479 filings](/companies/ung/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-10-15 | 16:36 ET | [8-K](/filings/0002071876-26-000249.md) | 1.01 Entry into a material agreement; 9.01 Financial statements and exhibits | 0002071876-26-000249 |
| 2026-09-29 | 12:34 ET | [8-K](/filings/0001104659-26-111778.md) | 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001104659-26-111778 |
| 2026-09-25 | 17:28 ET | [8-K](/filings/0002071876-26-000221.md) | 1.01 Entry into a material agreement | 0002071876-26-000221 |
| 2026-08-28 | 08:26 ET | [8-K](/filings/0001104659-26-102787.md) | 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001104659-26-102787 |
| 2026-08-07 | 14:52 ET | [10-Q](/filings/0001104659-26-092626.md) | Quarterly report, period 2026-06-30 | 0001104659-26-092626 |
| 2026-07-29 | 08:33 ET | [8-K](/filings/0001104659-26-087856.md) | 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001104659-26-087856 |
| 2026-06-29 | 08:17 ET | [8-K](/filings/0001104659-26-078517.md) | 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001104659-26-078517 |
| 2026-05-28 | 08:27 ET | [8-K](/filings/0001104659-26-067259.md) | 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001104659-26-067259 |
| 2026-05-08 | 13:51 ET | [10-Q](/filings/0001104659-26-057766.md) | Quarterly report, period 2026-03-31 | 0001104659-26-057766 |
| 2026-04-29 | 08:28 ET | [8-K](/filings/0001104659-26-050932.md) | 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001104659-26-050932 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001104659-26-021507.md), filed Feb 27, 2026.

## Forecast league

Not in this season’s league. [This season’s league](/leagues.md)

## About the filer

- CIK: 1376227
- Tickers: UNG
- Exchange: NYSE
- SIC code: 6221 Commodity Contracts Brokers & Dealers
- State of incorporation: not reported
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 30, 2026, 11:20 ET. No prices; not investment advice.