UGA on NYSE

United States Gasoline Fund, LP

American commodity contracts brokers and dealers company based in Walnut Creek. Summary from the record

Price unavailable

Last updated Oct 19, 2026.

Overview

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TickerUGA on NYSE²
IndustryCommodity Contracts Brokers & Dealers²
HeadquartersWalnut Creek, United States²
Incorporated inDE³
Business address1850 Mt. Diablo Blvd., Suite 640, Walnut Creek, Ca 94596³
Filer categoryAccelerated filer, Smaller reporting company³
Legal formLimited Partnership²
Kind of organizationFund²
LEI549300GMQ2X7PSDU5G42²
StatusActive²
LEI statusIssued and current²
Registered addressC/O CORPORATION SERVICE COMPANY, 19808 Wilmington, United States²
Registered withDivision of Corporations, Department of State, 4313986²

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The United States Gasoline Fund, LP (“UGA”) is a Delaware limited partnership organized on April 13, 2007. UGA maintains its main business office at 1850 Mt. Diablo Boulevard, Suite 640, Walnut Creek, California 94596. UGA is a commodity pool that issues limited partnership interests (“shares”) traded on the NYSE Arca, Inc. (the “NYSE Arca”). UGA’s shares began trading on February 26, 2008. It operates pursuant to the terms of the Third Amended and Restated Agreement of Limited Partnership dated as of December 15, 2017 (as amended from time to time, the “LP Agreement”), which grants full management control to its general partner, United States Commodity Funds LLC (“USCF”).⁴ From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

126.9%Net margin⁵

-146.4%Revenue growth, 2025⁵

Financial statements

Revenue⁶⁷⁸⁹⁵-$3.1M in 2025

Net income⁶⁷⁸⁹⁵-$3.9M in 2025

Every line of the income statement as filed: the last 3 fiscal years (annual) or 8 quarters (quarterly), latest first.⁵

Period ending	2025-12-31	2024-12-31	2023-12-31
Realized gain (loss) on closed commodity futures contracts	-$4.1M	-$2.7M	$11.3M
Change in unrealized gain (loss) on open commodity futures contracts	-$2.0M	$4.4M	-$13.3M
Dividend income	$1.7M	$1.8M	$1.3M
Interest income	$1.4M	$3.1M	$2.1M
ETF transaction fees	$9.1K	$11.6K	$7.3K
Total Income (Loss)	-$3.1M	$6.7M	$1.4M
General Partner management fees (Note 3)	$461.8K	$603.0K	$450.6K
Professional fees	$260.6K	$299.9K	$332.2K
Brokerage commissions	$70.0K	$78.5K	$57.0K
Directors' fees and insurance	$26.3K	$26.3K	$29.5K
License fees	$11.5K	$15.1K	$12.0K
Total Expenses	$830.3K	$1.0M	$881.3K
Net Income (Loss)	-$3.9M	$5.6M	$539.1K
Net Income (Loss) per limited partner share	-$1	$2	$1
Net Income (Loss) per weighted average limited partner share	-$3	$4	$0
Weighted average limited partner shares outstanding	1.2M shares	1.6M shares	1.2M shares

Period ending	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31
Total Income (Loss)	-$5.0M	$5.1M	-$5.5M	$2.3M	$7.5M	-$13.5M	-$3.5M	$16.1M
Total Expenses	$203.3K	$212.6K	$174.5K	$239.9K	$289.6K	$285.0K	$236.4K	$211.8K
Net Income (Loss)	-$5.2M	$4.9M	-$5.7M	$2.1M	$7.2M	-$13.7M	-$3.8M	$15.9M
Net Income (Loss) per limited partner share	-$3	$4	-$4	$1	$4	-$9	-$4	$10

Total assets¹²⁶⁷⁸⁹⁵$77.5M in 2025+160% since 2019

Total liabilities¹²⁶⁷⁸⁹⁵$246.5K in 2025−64% since 2019

Cash⁶⁷⁸⁹⁵$67.1M in 2025+152% since 2019

Every line of the balance sheet as filed: the last 5 fiscal years (annual) or 5 quarters (quarterly), latest first.⁵

Period ending	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2008-02-29
Cash and cash equivalents (at cost $9,408,070 and $21,991,802, respectively)	$9.4M	$22.0M
Unrealized gain (loss) on open commodity futures contracts	$709.1K	$2.8M
Dividends receivable	$93.6K	$135.5K
Interest receivable	$139.2K	$235.1K
Prepaid insurance	$8.4K	$2.3K
Total Assets	$77.5M	$101.0M
General Partner management fees payable (Note 3)	$39.2K	$51.4K
Professional fees payable	$178.1K	$177.8K
Brokerage commissions payable	$0	$21.4K
Directors' fees payable	$2.1K	$2.9K
License fees payable	$27.0K	$15.5K
Total Liabilities	$246.5K	$269.0K
General Partners	$0	$0
Limited Partners	$77.2M	$100.7M
Total Partners' Capital	$77.2M	$100.7M
Total Liabilities and Partners' Capital	$77.5M	$101.0M
Limited Partners' shares outstanding	1.2M shares	1.6M shares
Net asset value per share	$62	$63	$61	$60	$50
Market value per share	$62	$63
Cash and cash equivalents	$67.1M	$75.9M	$45.8M

Period ending	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2008-02-29
Cash and cash equivalents (at cost $9,408,070 and $21,991,802, respectively)	$9.4M	$22.0M
Unrealized gain (loss) on open commodity futures contracts	$709.1K	$2.8M
Dividends receivable	$93.6K	$135.5K
Interest receivable	$139.2K	$235.1K
Prepaid insurance	$8.4K	$2.3K
Total Assets	$77.5M	$101.0M
General Partner management fees payable (Note 3)	$39.2K	$51.4K
Professional fees payable	$178.1K	$177.8K
Brokerage commissions payable	$0	$21.4K
Directors' fees payable	$2.1K	$2.9K
License fees payable	$27.0K	$15.5K
Total Liabilities	$246.5K	$269.0K
General Partners	$0	$0
Limited Partners	$77.2M	$100.7M
Total Partners' Capital	$77.2M	$100.7M
Total Liabilities and Partners' Capital	$77.5M	$101.0M
Limited Partners' shares outstanding	1.2M shares	1.6M shares
Net asset value per share	$62	$63	$61	$60	$50
Market value per share	$62	$63
Cash and cash equivalents	$67.1M	$75.9M	$45.8M

Cash from operations⁶⁷⁸⁹⁵-$1.8M in 2025

Every line of the cash flow as filed: the last 3 fiscal years, latest first.⁵

Period ending	2025-12-31	2024-12-31	2023-12-31
Net income (loss)	-$3.9M	$5.6M	$539.1K
Change in unrealized (gain) loss on open commodity futures contracts	$2.0M	-$4.4M	$13.3M
(Increase) decrease in dividends receivable	$41.9K	$22.8K	-$55.3K
(Increase) decrease in interest receivable	$95.9K	-$38.7K	-$57.2K
(Increase) decrease in prepaid insurance	-$6.2K	$1.9K	$671
(Increase) decrease in prepaid license fees		$0	$2.5K
Increase (decrease) in payable due to Broker		$0	-$196.9K
Increase (decrease) in General Partner management fees payable	-$12.2K	$8.6K	$1.2K
Increase (decrease) in professional fees payable	$278	-$23.9K	$51.1K
Increase (decrease) in brokerage commissions payable	-$21.4K	$0	$3.0K
Increase (decrease) in directors' fees payable	-$778	$1.2K	-$199
Increase (decrease) in license fees payable	$11.5K	$15.1K	$426
Net cash provided by (used in) operating activities	-$1.8M	$1.2M	$13.6M
Addition of partnership shares	$46.2M	$87.0M	$42.1M
Redemption of partnership shares	-$65.7M	-$76.8M	-$44.4M
Net cash provided by (used in) financing activities	-$19.6M	$10.2M	-$2.3M
Net Increase (Decrease) in Cash and Cash Equivalents	-$21.3M	$11.4M	$11.3M

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Leadership

Who has led United States Gasoline Fund, LP, and when. Pick a name to see everywhere that person has worked.

Chief executive

Chair

Nicholas Daniel Gerber2008

President

Chief financial officer

2010201520202025

Chief executive officerJohn P. Love Jul 24, 2015 to Jul 24, 2015¹³
Chief executive officerNicholas Daniel Gerber Feb 22, 2008 to Feb 22, 2008¹⁴
ChairNicholas Daniel Gerber Feb 22, 2008 to Feb 22, 2008¹⁴
PresidentJohn P. Love Jul 24, 2015 to Jul 24, 2015¹³
PresidentNicholas Daniel Gerber Feb 22, 2008 to Feb 22, 2008¹⁴
Chief financial officerStuart P. Crumbaugh Jun 23, 2015 to Jun 23, 2015¹⁵
Chief financial officerHoward Mah Feb 22, 2008 to Feb 22, 2008¹⁶

Board members and other officers (10)

Chief Investment OfficerJohn T. Hyland May 29, 2009 to May 29, 2009¹⁷
TreasurerAndrew F. Ngim Feb 22, 2008 to Feb 22, 2008¹⁸
Board memberKathryn D. Rooney Apr 6, 2023 to Apr 6, 2023¹⁹
Board memberMelinda Gerber Jun 30, 2015 to Jun 30, 2015²⁰
Board memberAndrew F. Ngim Feb 22, 2008 to Feb 22, 2008¹⁸
Board memberGordon Lloyd Ellis Feb 22, 2008 to Feb 22, 2008²¹
Board memberHoward Mah Feb 22, 2008 to Feb 22, 2008¹⁶
Board memberMalcolm Randall Fobes Iii. Feb 22, 2008 to Feb 22, 2008²²
Board memberPeter M. Robinson Feb 22, 2008 to Feb 22, 2008²³
Board memberRobert Long Nguyen Feb 22, 2008 to Feb 22, 2008²⁴

Timeline

Jul 24, 2015New chief executive John P. Love becomes CEO¹³
Feb 22, 2008New chief executive Nicholas Daniel Gerber becomes CEO¹⁴
Apr 13, 2007Founded United States Gasoline Fund, LP is founded²

Filings

123 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 77 major events, 1 insider forms, 25 other. The latest 20:

Sep 29, 20268-K EDGAR
Sep 25, 20268-K EDGAR
Sep 25, 20268-K EDGAR
Aug 28, 20268-K EDGAR
Aug 7, 202610-Q EDGAR
Jul 29, 20268-K EDGAR
Jun 29, 20268-K EDGAR
May 28, 20268-K EDGAR
May 14, 2026POS EX EDGAR
May 8, 202610-Q EDGAR
Apr 29, 20268-K EDGAR
Apr 24, 2026424B3 EDGAR
Mar 30, 2026424I EDGAR
Mar 27, 20268-K EDGAR
Mar 27, 20268-K EDGAR
Mar 20, 20268-K EDGAR
Feb 27, 202610-K EDGAR
Feb 27, 20268-K EDGAR
Jan 29, 20268-K EDGAR
Dec 29, 20258-K EDGAR

The 123 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 43. Change is in shares since the quarter before.

Fund	Shares	Value	Share of the fund	Change
Susquehanna International Group, Llp	58,330	$6.0M	0.0%	+47,911
WealthCare Asset Management, LLC	44,778	$4.6M	1.9%	New
Merit Financial Group, LLC	37,323	$3.8M	0.0%	−10,217
Jane Street Group, LLC	27,510	$2.8M	0.0%	−58,792
Exit Wealth Advisors, LLC.	27,355	$2.8M	1.3%	+7,059
Osaic Holdings, Inc.	19,888	$2.0M	0.0%	−76,125
Pinnacle Wealth Planning Services, Inc.	19,000	$2.0M	0.2%	No change
Blue Capital, Inc.	18,444	$1.9M	1.2%	+7,240
Cetera Investment Advisers	17,893	$1.8M	0.0%	−19,509
Professional Financial Advisors, LLC	13,935	$1.4M	0.2%	−3,858
Envestnet Asset Management Inc	11,789	$1.2M	0.0%	−7,909
Roman Butler Fullerton & Co	9,845	$1.1M	0.3%	−15
Belvedere Trading LLC	10,371	$1.1M	0.1%	+8,727
Parallax Volatility Advisers, L.P.	8,411	$866.1K	0.0%	No change
Calton & Associates, Inc.	6,587	$678.3K	0.1%	+4,422
Commonwealth Equity Services, LLC	6,164	$634.7K	0.0%	−985
EverSource Wealth Advisors, LLC	6,028	$620.7K	0.0%	+949
National Wealth Management Group, LLC	5,742	$591.3K	0.2%	−1,038
Three Seasons Wealth, LLC	5,521	$568.5K	0.1%	+1,431
Royal Bank Of Canada	5,487	$565.0K	0.0%	+2,752
Pettinga Financial Advisors LLC	4,808	$495.1K	0.1%	−311
Blair William & Co/il	4,750	$489.1K	0.0%	+2,750
Capital Wealth Alliance, LLC	4,239	$435.7K	0.2%	No change
Tactive Advisors, LLC	3,881	$399.6K	0.1%	−5,057
Mgo One Seven LLC	3,792	$390.5K	0.0%	+85

13F reports cover disclosed long positions in U.S. stocks only.

Sources

The numbers on this page point here. Each one links to the record it came from.

1
SEC EDGARUnited States Gasoline Fund, LP filings on SEC EDGAR
2
GLEIFUnited States Gasoline Fund, LP LEI record (549300GMQ2X7PSDU5G42)
3
SEC EDGARUnited States Gasoline Fund, LP filings on SEC EDGAR
4
SEC EDGARUnited States Gasoline Fund, LP annual report, Item 1 (Business)
5
SEC EDGARUnited States Gasoline Fund, LP 10-K for fiscal 2025
6
SEC EDGARUnited States Gasoline Fund, LP 10-K for fiscal 2019
7
SEC EDGARUnited States Gasoline Fund, LP 10-K for fiscal 2020
8
SEC EDGARUnited States Gasoline Fund, LP 10-K for fiscal 2021
9
SEC EDGARUnited States Gasoline Fund, LP 10-K for fiscal 2022
10
SEC EDGARUnited States Gasoline Fund, LP 10-Q for fiscal 2026
11
SEC EDGARUnited States Gasoline Fund, LP 10-Q for fiscal 2026
12
SEC EDGARUnited States Gasoline Fund, LP 10-K for fiscal 2019
13
SEC EDGARJohn P. Love, Chief executive officer
14
SEC EDGARNicholas Daniel Gerber, Chief executive officer
15
SEC EDGARStuart P. Crumbaugh, Chief financial officer
16
SEC EDGARHoward Mah, Chief financial officer
17
SEC EDGARJohn T. Hyland, Chief Investment Officer
18
SEC EDGARAndrew F. Ngim, Treasurer
19
SEC EDGARKathryn D. Rooney, Board member
20
SEC EDGARMelinda Gerber, Board member
21
SEC EDGARGordon Lloyd Ellis, Board member
22
SEC EDGARMalcolm Randall Fobes Iii., Board member
23
SEC EDGARPeter M. Robinson, Board member
24
SEC EDGARRobert Long Nguyen, Board member