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United States 12 Month Natural Gas Fund (NYSE Arca: UNL) reports June NAV of $17.3M

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

United States 12 Month Natural Gas Fund reported a net loss of $480,860 for June 2026. Results included a realized trading loss on commodity futures of $398,305 and an unrealized loss on the market value of commodity futures of $104,704, partly offset by dividend income of $43,057 and interest income of $8,529. Total expenses were $29,787, including general partner management fees of $8,829 and professional fees of $19,617.

Net asset value decreased from $18,459,672 at the beginning of June 2026 to $17,335,926 at month-end, reflecting $642,886 of withdrawals associated with 100,000 shares and the monthly net loss. Net asset value per share was $6.42, based on 2,700,000 shares used in the calculation.

Positive

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Filing Explained

The July 29, 2026 Form 8-K furnishes UNL’s monthly account statement for the month ended June 30, 2026; the disclosure is not treated as filed under Exchange Act Section 18 or incorporated by reference unless expressly stated.

Item 7.01 Regulation FD Disclosure Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Realized trading loss on commodity futures $398,305 Realized trading loss on commodity futures for the month ended June 30, 2026
Unrealized loss on commodity futures $104,704 Unrealized loss on market value of commodity futures in June 2026
Dividend income $43,057 Dividend income earned during the month ended June 30, 2026
Total expenses $29,787 Total operating expenses for United States 12 Month Natural Gas Fund in June 2026
Net loss for June 2026 $480,860 Net income (loss) for the month ended June 30, 2026
Beginning NAV June 1, 2026 $18,459,672 Net asset value at the beginning of June 2026
Withdrawals (100,000 shares) $642,886 Redemptions during June 2026 associated with 100,000 shares
Ending NAV and NAV per share $17,335,926; $6.42 per share Net asset value and NAV per share at June 30, 2026 based on 2,700,000 shares
Commodity Futures financial
"Realized Trading Gain (Loss) on Commodity Futures was $(398,305) in June 2026"
Net Asset Value financial
"Statement of Changes in Net Asset Value for the month ended June 30, 2026"
Net asset value is the total value of an investment fund's assets minus any liabilities, divided by the number of shares or units outstanding. It represents the per-share worth of the fund, similar to how the value of a house is determined by its total worth after debts are subtracted. Investors use it to gauge the true value of their holdings and to compare different investment options.
General Partner Management Fees financial
"Expenses include General Partner Management Fees of $8,829 for the month"
Rule 4.22(h) regulatory
"Pursuant to Rule 4.22(h) under the Commodity Exchange Act, the undersigned represents accuracy"
Commodity Exchange Act regulatory
"Account statement is provided as required under the Commodity Exchange Act"
A federal law that creates the rulebook for trading commodity futures and options, setting standards to prevent market manipulation, fraud, and unfair practices. It matters to investors because those rules and the government oversight that enforces them help keep prices honest, ensure transparent reporting, and reduce the risk that markets will be distorted — similar to traffic laws that make driving safer and more predictable.

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FAQ

What was United States 12 Month Natural Gas Fund (UNL)'s net income for June 2026?
United States 12 Month Natural Gas Fund recorded a net loss of $480,860 for June 2026. This reflected a realized trading loss of $398,305, an unrealized loss of $104,704 on commodity futures, investment income from dividends and interest, and total expenses of $29,787.

How did UNL's net asset value change during June 2026?
Net asset value decreased from $18,459,672 on June 1, 2026 to $17,335,926 at month-end. The change was driven by the $480,860 net loss and $642,886 of withdrawals tied to 100,000 shares redeemed during the month.

What were UNL's realized and unrealized trading results on commodity futures in June 2026?
In June 2026, the fund had a realized trading loss of $398,305 on commodity futures and an unrealized loss of $104,704 on the market value of commodity futures. Together, these trading results were the main driver of the overall monthly loss.

What investment income did United States 12 Month Natural Gas Fund (UNL) earn in June 2026?
During June 2026, the fund generated dividend income of $43,057 and interest income of $8,529. It also collected $350 in ETF transaction fees, which partially offset trading losses and operating expenses in the monthly results.

What was UNL's net asset value per share and share count at June 30, 2026?
At June 30, 2026, net asset value per share was $6.42, calculated using 2,700,000 shares. Total net asset value at month-end was $17,335,926 after accounting for withdrawals and the June 2026 net loss.
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported): July 29, 2026

 

UNITED STATES 12 MONTH NATURAL GAS FUND, LP

(Exact name of registrant as specified in its charter)

 

Delaware 001-34535 26-0431733

(State or other jurisdiction

of incorporation)

 (Commission File Number) (I.R.S. Employer
Identification No.)

 

  1850 Mt. Diablo Boulevard, Suite 640
Walnut Creek, California 94596		  
(510) 522-9600
Registrant’s telephone number,
including area code 		 (Address of principal executive offices) (Zip Code)  

 

Not Applicable

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

¨Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company     ¨

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered:
Shares of United States 12 Month Natural Gas Fund, LP   UNL   NYSE Arca, Inc.

 

 

 

 

 

 

Item 7.01. Regulation FD Disclosure.

 

On July 29, 2026, United States 12 Month Natural Gas Fund, LP (the “Registrant”) issued its monthly account statement for the month ended June 30, 2026, which is presented in the form of a Statement of Income (Loss) and a Statement of Changes in Net Asset Value, as required pursuant to Rule 4.22 under the Commodity Exchange Act. A copy of the monthly account statement is furnished as Exhibit 99.1 to this Current Report on Form 8-K and also can be found on the Registrant’s website at www.uscfinvestments.com. The information furnished in this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in any such filing.

 

Item 9.01. Financial Statements and Exhibits.

 

(d) Exhibits.

 

Exhibit 99.1

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  UNITED STATES 12 MONTH NATURAL GAS FUND, LP
  By: United States Commodity Funds LLC, its general partner
     
Date: July 29, 2026 By: /s/ Stuart P. Crumbaugh
  Name: Stuart P. Crumbaugh
  Title: Chief Financial Officer
       

 

 

Exhibit 99.1

 

United States 12 Month Natural Gas Fund, LP

Monthly Account Statement

For the Month Ended June 30, 2026

 

Statement of Income (Loss)    
Income     
Realized Trading Gain (Loss) on Commodity Futures  $(398,305)
Unrealized Gain (Loss) on Market Value of Commodity Futures   (104,704)
Dividend Income   43,057 
Interest Income   8,529 
ETF Transaction Fees   350 
Total Income (Loss)  $(451,073)
      
Expenses     
General Partner Management Fees  $8,829 
Professional Fees   19,617 
Brokerage Commissions   367 
Directors' Fees and Insurance   753 
License Fees   221 
Total Expenses  $29,787 
Net Income (Loss)  $(480,860)
      

 

Statement of Changes in Net Asset Value    
Net Asset Value Beginning of Month 6/1/26  $18,459,672 
Withdrawals (100,000 Shares)   (642,886)
Net Income (Loss)   (480,860)
      
Net Asset Value End of Month  $17,335,926 
Net Asset Value Per Share (2,700,000 Shares)  $6.42 

 

To the Limited Partners of United States 12 Month Natural Gas Fund, LP:

 

Pursuant to Rule 4.22(h) under the Commodity Exchange Act, the undersigned represents that, to the best of his knowledge and belief, the information contained in the Account Statement for the month ended June 30, 2026 is accurate and complete.

 

/s/ Stuart P. Crumbaugh  
Stuart P. Crumbaugh
Chief Financial Officer
United States Commodity Funds LLC, General Partner of United States 12 Month Natural Gas Fund, LP

 

United States Commodity Funds LLC

1850 Mt. Diablo Boulevard, Suite 640

Walnut Creek, CA 94596

 

 

 

Source: View Original Filing on SEC EDGAR

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