US Natural Gas Fund reports February 2026 loss
United States Natural Gas Fund, LP reported a net loss of $151,448,626 for the month ended February 28, 2026.
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Rhea-AI Filing Summary
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.
Insights
UNG posted a large monthly loss as unrealized futures and swap positions moved sharply against the fund.
The fund recorded a net loss of $151,448,626 in February 2026, mainly from unrealized losses on natural gas futures and swap contracts. These unrealized marks reflect adverse price moves in underlying markets rather than realized cash outflows.
Net asset value fell from $446,339,421 to $435,400,532 despite substantial capital inflows, while net asset value per share was $11.50 on 37,846,103 shares. Future monthly statements will show whether these mark-to-market losses reverse as natural gas prices and positions evolve.
8-K Event Classification
FAQ
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