Offers exchange-traded shares that give retail and institutional investors exposure to daily price changes in natural gas, primarily through natural-gas futures and related investments.
10-K for FY2025, filed Feb 27, 2026The United States Natural Gas Fund, LP (“UNG”) is a Delaware limited partnership organized on September 11, 2006. UNG maintains its main…View ↗
The investment objective of UNG is for the daily changes in percentage terms of its per share net asset value (“NAV”) to reflect the daily…View ↗
UNG seeks to achieve its investment objective by investing so that the average daily percentage change in UNG’s NAV for any period of 30…View ↗
An investment in UNG’s shares provides a means for diversifying an investor’s portfolio or hedging exposure to changes in natural gas…View ↗
Market conditions that USCF currently anticipates could cause UNG to invest in Other Natural Gas- Related Investments include, but are not…View ↗
The fund earns interest on funds held with its custodian or futures brokers, and has gains or losses as futures, swaps, forwards, physical commodities and related options are marked to market daily.
10-K for FY2025, filed Feb 27, 2026Revenue RecognitionView ↗
$80M
10-K for FY2022, filed Feb 27, 2023
$80M ↗
Retail and institutional investors trade shares on the NYSE Arca; only approved participants can create or redeem shares directly with the fund.
10-K for FY2025, filed Feb 27, 2026An investment in UNG’s shares provides a means for diversifying an investor’s portfolio or hedging exposure to changes in natural gas…View ↗
The shares issued by UNG may only be purchased by Authorized Participants and only in blocks of 100,000 shares, called “Creation Baskets.”…View ↗
While UNG issues shares only in Creation Baskets, shares are listed on the NYSE Arca and investors may purchase and sell shares at market…View ↗
Yes. It kept 94 cents of every revenue dollar as net income in FY2022.
10-K for FY2024, filed Feb 28, 2025
$75MView ↗
10-Q for Q2 FY2026, filed Aug 7, 2026
$15.4MView ↗
Shrinking. Revenue fell 30% in 4 years, from $114.9M in FY2018 to $80M in FY2022, about 9% a year.
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