Welcome to our dedicated page for United States Natural Gas SEC filings (Ticker: UNG), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
The SEC filings page for United States Natural Gas Fund, LP (UNG) brings together the partnership’s public reports as a listed commodity-related fund. Shares of United States Natural Gas Fund, LP trade on NYSE Arca, Inc., and the fund is registered under Section 12(b) of the Securities Exchange Act of 1934. Its filings provide insight into how the fund reports income, loss, and changes in net asset value, as well as how it complies with both securities and commodity regulations.
Recent Form 8-K filings show that United States Natural Gas Fund, LP regularly furnishes monthly account statements as Exhibit 99.1. These statements are prepared in the form of a Statement of Income (Loss) and a Statement of Changes in Net Asset Value for each month-end period, in accordance with Rule 4.22 under the Commodity Exchange Act. On this page, users can access those 8-Ks alongside other key documents such as annual and quarterly reports and registration statements, when available.
Each Form 8-K also clarifies that the furnished monthly account statements are not deemed “filed” for purposes of Section 18 of the Exchange Act unless specifically incorporated by reference into another filing. This distinction is important for understanding how liability and disclosure standards apply to different types of information.
Stock Titan enhances these filings with AI-powered summaries that explain the core points of lengthy reports in plain language. Users can quickly see what a particular Form 8-K covers, identify the period for the monthly account statement, and understand how income, loss, and net asset value changed. Real-time updates from EDGAR, combined with AI-generated highlights, make it easier to navigate UNG’s filing history, from current reports on Form 8-K to other documents that define the fund’s structure and regulatory obligations.
United States Natural Gas Fund, LP furnished its audited financial statements for the year ended December 31, 2025. Total assets were $579,489,846 and partners’ capital was $550,640,328, down from $743,835,423 a year earlier, reflecting lower natural gas futures valuations and net redemptions.
Net income was $34,228,548 for 2025, compared with $65,145,775 in 2024 and a large loss in 2023. Net asset value per share declined from $16.85 to $12.20, a total return of -27.60%, while the fund continued to track short-term Henry Hub natural gas futures.
Independent auditor Cohen & Company issued unqualified opinions on both the financial statements and internal control over financial reporting and reported no critical audit matters.
United States Natural Gas Fund, LP reported a net loss of $151,448,626 for the month ended February 28, 2026. The loss was driven mainly by unrealized losses on commodity futures of $128,007,486 and unrealized losses on swap contracts of $25,286,394, partly offset by realized futures gains and dividend and interest income.
Net asset value started the month at $446,339,421. During the month, investors added $273,877,265 (22,000,000 shares) and withdrew $133,367,528 (10,600,000 shares). After the net loss, net asset value ended at $435,400,532, with net asset value per share of $11.50 based on 37,846,103 shares.
United States Natural Gas Fund, LP furnished the audited statements of financial condition of its general partner, United States Commodity Funds LLC, as of December 31, 2025 and 2024. USCF reported total assets of $6.7 million and member’s equity of $5.1 million at year-end 2025, with cash and cash equivalents of $1.5 million and investments at fair value of $2.4 million. Management fees receivable from related-party funds were $1.2 million at year-end 2025. The notes describe legal and regulatory matters involving USCF and related funds; no loss accrual has been recorded, but an adverse outcome could materially adversely affect the company’s financial condition, results of operations and cash flows. Subsequent to year-end, USCF approved and paid dividends totaling $850,000 to its parent in early 2026.
United States Natural Gas Fund, LP (UNG) is a Delaware commodity pool whose shares trade on NYSE Arca and are designed to track daily percentage changes in a benchmark natural gas futures contract based on Henry Hub prices, plus collateral interest and minus expenses.
UNG invests primarily in NYMEX and ICE natural gas futures and related derivatives, rolling positions monthly over a four-day window and holding Treasuries and cash as margin and collateral. The fund uses a neutral, non-leveraged strategy that targets its 30‑day NAV performance to stay within 10% of the benchmark futures’ daily percentage moves.
UNG had 35,546,103 shares outstanding as of February 23, 2026, and its shares held by non‑affiliates had an aggregate market value of $360,537,619 as of June 30, 2025. The general partner, United States Commodity Funds LLC, manages all operations, using multiple futures commission merchants and swap dealers to execute and clear trades.
United States Natural Gas Fund, LP reported a strong monthly result for January 2026, with net income of $252,385,178. Total income was driven mainly by realized and unrealized gains on commodity futures and swap contracts, along with dividend and interest income.
Net asset value started the month at $550,640,328. Investor additions of $389,414,319 and withdrawals of $746,100,404, combined with net income, resulted in an ending net asset value of $446,339,421. Net asset value per share was $16.88 based on 26,446,103 shares outstanding at month-end.
United States Natural Gas Fund, LP furnished its monthly account statement for the month ended December 31, 2025. The report, presented as a Statement of Income (Loss) and a Statement of Changes in Net Asset Value, is provided as Exhibit 99.1 and is also available on its website.
The information is being shared under Regulation FD and is designated as furnished, not filed, which limits how it is treated under federal securities laws and how it may be incorporated into other securities law documents.
United States Natural Gas Fund, LP (UNG) has updated its prospectus to reduce the transaction fee that Authorized Participants pay when creating or redeeming share baskets. Effective January 1, 2026, the fee per order for one or more Creation Baskets or Redemption Baskets will drop from $1,000 to $350. Each Creation Basket consists of 100,000 shares offered on a continuous, best-efforts basis through the Marketing Agent to Authorized Participants. The Marketing Agent’s fee remains at 0.025% of UNG’s total net assets, subject to a cap that total distribution-related compensation to the Marketing Agent and USCF affiliates may not exceed ten percent of the gross proceeds of the offering.
United States Natural Gas Fund, LP reported that it has released its monthly account statement for the month ended November 30, 2025. The statement is presented as a Statement of Income (Loss) and a Statement of Changes in Net Asset Value, as required under Rule 4.22 of the Commodity Exchange Act. The document is being provided as an exhibit to this report and is also available on the fund’s website at www.uscfinvestments.com. The information is being furnished rather than filed, which means it is not automatically subject to certain Exchange Act liability provisions or incorporated into other securities offerings unless specifically referenced.
United States Natural Gas Fund, LP furnished an update to investors by issuing its monthly account statement for the month ended October 31, 2025. The statement, prepared as a Statement of Income (Loss) and a Statement of Changes in Net Asset Value under Commodity Exchange Act Rule 4.22, provides a snapshot of the fund’s recent performance and changes in value. The report is attached as Exhibit 99.1 and is also available on the fund’s website at uscfinvestments.com. The information is being furnished rather than filed, meaning it is not subject to certain Exchange Act liability provisions or automatically incorporated into other securities filings.
United States Natural Gas Fund, LP (UNG) filed its Q3 2025 report, reflecting commodity-driven volatility. UNG recorded a net loss of $55,875,975 for the quarter, while net income for the nine months was $30,524,943. Limited partners’ shares outstanding were 48,146,103 and NAV per share was $12.97 (market price $13.07) at September 30, 2025.
Total assets were $650,650,435, including cash and cash equivalents of $483,345,718 and money market funds of $305,950,000. UNG held 15,138 NYMEX natural gas futures contracts with an unrealized gain of $1,086,363 and open OTC swaps with a small unrealized loss. Operating cash flow was $92,856,069; financing cash flow reflected net redemptions.
Management reiterates that UNG seeks daily percentage moves aligned with the near-month NYMEX natural gas futures, not spot gas or multi-day targets. For the nine months, the Benchmark Futures Contract declined about 9.08%, while UNG’s total return was (23.03)%, influenced by futures term structure. UNG noted it exceeded NYMEX accountability levels during the period (peak 16,693 contracts); no exchange action was taken and no position reductions were required.