Every 10-Q that United States 12 Month Natural Gas Fund, LP (UNL) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow UNL and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full UNL filings page.
United States 12 Month Natural Gas Fund is a commodity pool that seeks to track the average price of 12 consecutive NYMEX natural gas futures contracts plus collateral interest, less expenses. As of June 30, 2026 it had $17.4 million in total assets and 2,700,000 shares outstanding, with NAV per share of $6.42 versus $7.34 at December 31, 2025.
For the six months ended June 30, 2026 UNL recorded a net loss of $1.77 million, compared with net income of $1.80 million in the prior-year period. Results were driven by a realized loss of $2.38 million on closed natural gas futures, partly offset by a $0.47 million improvement in unrealized gains and $0.29 million of dividend and interest income. Total expenses were $0.15 million.
The fund held 510 long NYMEX natural gas futures with notional value of $18.9 million and an aggregate unrealized loss of $1.60 million, while keeping about $14.5 million in government money market funds as collateral and liquidity. Management reports that over both recent 30‑day and long-term periods, NAV changes have remained within its stated tracking range relative to the benchmark futures strip.
United States 12 Month Natural Gas Fund, LP reported a net loss of $660,149 for the three months ended March 31, 2026, reversing net income of $4,184,874 a year earlier. The loss came mainly from a realized loss of $1,181,469 on closed natural gas futures, partly offset by a $438,130 improvement in unrealized positions and $147,240 of dividend and interest income.
Net asset value per share fell from $7.34 at year-end to $6.90, a total return of (5.99)% in the quarter. Total assets declined to $15.6 million with 2,250,000 limited partner shares outstanding. The fund held 431 NYMEX natural gas futures contracts with aggregate notional value of $17.2 million and $12.0 million in government money market funds as collateral and liquidity.
United States 12 Month Natural Gas Fund, LP (UNL) filed its quarterly report for September 30, 2025. Total assets were $10,530,344, down from $19,045,543 at year‑end, as redemptions exceeded creations during the period. Limited partners’ shares outstanding were 1,350,000 and NAV per share was $7.74 versus $8.12 at December 31, 2024. Market price closed at $7.79.
UNL posted a Q3 net loss of $1,348,433 as natural gas futures declined late in the quarter; for the nine months, net income was $453,047 driven by realized gains of $2,119,553 partly offset by a $1,929,554 unrealized loss on open contracts. At quarter‑end, UNL held 277 NYMEX natural gas futures with an aggregate unrealized loss of $814,334 and $7,000,000 in government money market funds.
Cash provided by operations was $2,121,504, while financing cash flows were negative $8,680,047 on net redemptions. The management fee is 0.60% per annum. UNL’s total return for the nine months was (4.68)%, reflecting roll effects across the 12‑month futures strip the fund tracks.