US Natural Gas Fund GP Highlights Legal and Financial Risks

United States Natural Gas Fund LP ( (UNG) ) has shared an announcement.

United States Commodity Funds LLC released audited statements of financial condition as of December 31, 2025 and 2024, showing total assets of $6.71 million and $7.13 million, respectively, and member’s equity of $5.08 million in 2025 versus $5.28 million in 2024. The audit, completed by BPM LLP on March 20, 2026, highlighted that the company faces various legal proceedings and regulatory inquiries whose potential losses cannot yet be reasonably estimated, and noted that an adverse outcome could materially affect its financial condition, results of operations and cash flows, underscoring a key area of risk for the general partner of the United States Natural Gas Fund.

Current assets declined slightly year over year, with cash and cash equivalents falling to $1.54 million from $2.27 million, while investments at fair value rose modestly and related-party receivables increased. Liabilities remained relatively stable overall, though accounts payable and accrued liabilities grew and income taxes payable fell to zero by year-end 2025, leaving total current liabilities at $1.39 million and reflecting generally solid but exposed positioning as the firm manages ongoing contingencies.

More about United States Natural Gas Fund LP

United States Commodity Funds LLC is the general partner and manager of the United States Natural Gas Fund, LP, a commodity pool that offers investors exposure to U.S. natural gas futures and related instruments. Operating in the commodities and exchange-traded products space, it earns management fees and holds investments and related-party receivables tied to its suite of commodity funds.

Average Trading Volume: 20,594,358

Current Market Cap: $451.4M

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