<SEC-DOCUMENT>0001171200-23-000199.txt : 20230404
<SEC-HEADER>0001171200-23-000199.hdr.sgml : 20230404
<ACCEPTANCE-DATETIME>20230404170317
ACCESSION NUMBER:		0001171200-23-000199
CONFORMED SUBMISSION TYPE:	424B3
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20230404
DATE AS OF CHANGE:		20230404

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			United States Natural Gas Fund, LP
		CENTRAL INDEX KEY:			0001376227
		STANDARD INDUSTRIAL CLASSIFICATION:	 [6221]
		IRS NUMBER:				205576760
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B3
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-263570
		FILM NUMBER:		23799052

	BUSINESS ADDRESS:	
		STREET 1:		1850 MT. DIABLO BLVD.
		STREET 2:		SUITE 640
		CITY:			WALNUT CREEK
		STATE:			CA
		ZIP:			94596
		BUSINESS PHONE:		510-522-9600

	MAIL ADDRESS:	
		STREET 1:		1850 MT. DIABLO BLVD.
		STREET 2:		SUITE 640
		CITY:			WALNUT CREEK
		STATE:			CA
		ZIP:			94596

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	United States Gas Fund LP
		DATE OF NAME CHANGE:	20060922
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right; background-color: white"><B>Filed pursuant to Rule 424(b)(3)<BR>
File No. 333-263570</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES NATURAL GAS FUND, LP</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Supplement dated April 4, 2023</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">to<BR>
Prospectus dated April 26, 2022</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">This supplement contains information which amends, supplements or modifies
certain information contained in the prospectus of United States Natural Gas Fund, LP dated April 26, 2022 (the &ldquo;Prospectus&rdquo;).
Please read it and keep it with your Prospectus for future reference.</P>

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<P STYLE="font: italic 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">You should carefully consider the &ldquo;Risk Factors&rdquo; beginning
on page 7 of the Prospectus before you decide to invest.</P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; background-color: white">On April 1, 2023, each of
Messrs. Nicholas D. Gerber and Andrew F Ngim tendered his resignation as a Management Director of the United States Commodity Funds LLC
(&ldquo;USCF&rdquo;), which is the general partner of the United States Natural Gas Fund, LP (the &ldquo;Registrant&rdquo;). The resignation
of each of Messrs. Gerber and Ngim was effective upon the later of April 1, 2023 and the appointment of his successor. While Mr. Ngim
will no longer serve on the Board of Directors of USCF, he will continue to serve as Chief Operating Officer of USCF and as a portfolio
manager of United States Copper Index Fund and United States Commodity Index Fund, in addition to his other roles for USCF&rsquo;s affiliates.
On April 1, 2023, each of Mr. Stuart P. Crumbaugh and Ms. Kathryn D. Rooney was appointed as a Management Director of USCF, effective
immediately.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>The biography for Mr. Gerber found in the section entitled &ldquo;USCF
and its Management and Traders,&rdquo; which begins on page 32 of the Prospectus, is deleted in its entirety and replaced with the biography
for Ms. Rooney as follows:</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; background-color: white"><B><I>Kathryn D. Rooney</I></B>,
50, Management Director of USCF since April 2023 and Chief Marketing Officer of USCF since January 2016. Since January 2017, she also
has served as a member of the Board of Directors of The Marygold Companies, which is the parent of USCF Investments, Inc. USCF Investments,
Inc. is the sole member of USCF. Previously, Ms. Rooney was the National Sales Director at USCF from January 2007 to December 2015. Ms.
Rooney was the Director of Business Development at the Ameristock Corporation, a California-based registered investment adviser, from
September 2003 to January 2007. Prior to joining the Ameristock Corporation, she was Regional Sales Director at Accessor Capital Management,
a registered investment adviser that was based in Seattle, Washington, from October 2002 to August 2003, National Sales Director at ALPS
Mutual Fund Services, Inc., a boutique investment services company offering outsourced back office operations and distribution services
to mutual fund managers, from June 1999 to October 2002, and Trust Officer at Fifth Third Bancorp, an American bank holding company headquartered
in Ohio, from June 1994 to May 1999. Additionally, Ms. Rooney has been registered as an associated person of USCF since August 2015 and
from December 2005 to April 2009. Additionally, effective as of February 2017, she is an associated person of USCF Advisers, LLC, an affiliate
of USCF, which is an investment adviser registered under the Investment Advisers Act of 1940, and, as of February 2017, is registered
as a commodity pool operator, NFA member and swap firm. Ms. Rooney graduated from Wellesley College with a Bachelor of Arts in economics
and psychology in June 1994.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>The biographies for Messrs. Crumbaugh and Ngim
found in the section entitled &ldquo;USCF and its Management and Traders,&rdquo; which begins on page 32 of the Prospectus, are deleted
in their entirety and replaced with the following updated biographies:</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; background-color: white"><B><I>Stuart P. Crumbaugh</I></B>,
59, Management Director of USCF since April 2023 and Chief Financial Officer, Secretary and Treasurer of USCF since May 2015. Also, Mr.
Crumbaugh is the Chief Financial Officer of The Marygold Companies, Inc., formerly Concierge Technologies, Inc. (&ldquo;Marygold&rdquo;),
the parent of USCF Investments, Inc. (formerly Wainwright Holdings, Inc.) (&ldquo;USCF Investments&rdquo;) since December 2017. He is
also the Treasurer and a member of the Board of Directors of Marygold &amp; Co., a subsidiary of Marygold, since November 2019. In addition,
Mr. Crumbaugh has served as a director of USCF Investments, the parent and sole member of USCF, since December 2016. Mr. Crumbaugh has
been a principal of USCF listed with the CFTC and NFA since July 1, 2015 and, as of January 2017, he is a principal of USCF Advisers.
USCF Advisers, an affiliate of USCF, is an investment adviser registered under the Investment Advisers Act of 1940, and, as of February
2017, is registered as a commodity pool operator, NFA member and swap firm. Since June 2015, Mr. Crumbaugh has been the Treasurer and
Secretary of USCF Advisers. He has served as a Management Trustee, Chief Financial Officer and Treasurer of USCF ETF Trust since May 2015
and (2) USCF Mutual Funds Trust since October 2016. Mr. Crumbaugh joined USCF as the Assistant Chief Financial Officer on April 6, 2015.
Prior to joining USCF, Mr. Crumbaugh was the Vice President Finance and Chief Financial Officer of Sikka Software Corporation, a software
service healthcare company providing optimization software and data solutions from April 2014 to April 6, 2015. Mr. Crumbaugh served as
a consultant providing technical accounting, IPO readiness and M&amp;A consulting services to various early stage companies with the Connor
Group, a technical accounting consulting firm, for the periods of January 2014 through March 2014; October 2012 through November 2012;
and January 2011 through February 2011. From December 2012 through December 2013, Mr. Crumbaugh was Vice President, Corporate Controller
and Treasurer of Auction.com, LLC, a residential and commercial real estate online auction company. From March 2011 through September
2012, Mr. Crumbaugh was Chief Financial Officer of IP Infusion Inc., a technology company providing network routing and switching software
enabling software-defined networking solutions for major mobile carriers and network infrastructure providers. Mr. Crumbaugh earned a
B.A. in Accounting and Business Administration from Michigan State University in 1987 and is a Certified Public Accountant &ndash; Michigan
(inactive).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; background-color: white"><B><I>Andrew F Ngim</I></B>,
62, co-founded USCF in 2005 and has served as a Management Director from May&nbsp;2005 to April 2023 and, since August&nbsp;15, 2016,
has served as the Chief Operating Officer of USCF. Mr.&nbsp;Ngim has served as the portfolio manager for USCI and CPER since January&nbsp;2013
and for the United States Agriculture Index Fund from January 2013 to September 2018. Mr.&nbsp;Ngim also served as USCF&rsquo;s Treasurer
from June&nbsp;2005 to February&nbsp;2012. In addition, he has been on the Board of Managers and has served as the Assistant Secretary
and Assistant Treasurer of USCF Advisers since its inception in June&nbsp;2013 and Chief Operating Officer of USCF Advisers since March
2021. Prior to and concurrent with his services to USCF and USCF Advisers, from January&nbsp;1999 to January&nbsp;2013, Mr.&nbsp;Ngim
served as a Managing Director for Ameristock Corporation, a California-based investment adviser, which he co-founded in March&nbsp;1995,
and was Co-Portfolio Manager of Ameristock Mutual Fund,&nbsp;Inc. from January&nbsp;2000 to January&nbsp;2013. Mr.&nbsp;Ngim also served
as portfolio manager of (a) the following series of the USCF ETF Trust: (1) the Stock Split Index Fund from September 2014 to October
2017, (2) the USCF Restaurant Leaders Fund from November 2016 to October 2017, (3) USCF SummerHaven SHPEI Index Fund from December 2017
to October 2020, (4) USCF SummerHaven SHPEN Index Fund from December 2017 to April 2020, and (b) a series of USCF Mutual Funds Trust,
the USCF Commodity Strategy Fund, from March 2017 to March 2019. Mr. Ngim also serves as the portfolio manager for the following series
of the USCF ETF Trust: (1) USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund, from May&nbsp;2018 to present, and (2) the USCF Sustainable
Battery Metals Strategy Fund from January 2023 to present. Mr.&nbsp;Ngim serves as a Management Trustee of: (1)&nbsp;the USCF ETF Trust
from August&nbsp;2014 to the present and (2)&nbsp;the USCF Mutual Funds Trust from October&nbsp;2016 to present. Mr.&nbsp;Ngim has been
a principal of USCF listed with the CFTC and NFA since November&nbsp;2005 and a principal of USCF Advisers LLC since January&nbsp;2017.
USCF Advisers, an affiliate of USCF, is an investment adviser registered under the Investment Advisers Act of 1940, and, as of February&nbsp;2017,
is registered as a commodity pool operator, NFA member and swap firm. Mr.&nbsp;Ngim earned his B.A. from the University of California
at Berkeley.</P>

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