---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-029745"
form_type: "8-K"
ticker: "UNG"
cik: "0001376227"
company_name: "United States Natural Gas Fund, LP"
filed_at: "2025-03-31T23:59:59+00:00"
generated_at: "2026-05-24T01:37:31.155499+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.25
calibrated_materiality_score: 0.25
confidence: "high"
source: SEC EDGAR
---

# UNG reports $188M net income for Feb; NAV per share $20.33

## Summary
- Net income of $188.1M for month ended Feb 28, 2025, driven by $132.2M in realized and unrealized gains.
- Net asset value declined from $646.6M to $411.7M, with net withdrawals of 21.2M shares (net $423M outflow).
- NAV per share $20.33 on 20.25M shares outstanding at month-end.
- Total income of $188.8M vs total expenses of $0.7M; management fees $304.9K.

## SEC filing metadata
- accession: 0001104659-25-029745
- form_type: 8-K
- ticker: UNG
- cik: 0001376227
- company_name: United States Natural Gas Fund, LP
- filed_at: 2025-03-31T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.25
- calibrated_materiality_score: 0.25
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1376227/000110465925029745/0001104659-25-029745-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1376227/000110465925029745/tm258856d2_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-029745
- JSON: https://secwatch.observer/filing/0001104659-25-029745.json
- Plain text: https://secwatch.observer/filing/0001104659-25-029745.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.