May 2026 results for United States 12 Month Natural Gas Fund (UNL)
Rhea-AI Filing Summary
United States 12 Month Natural Gas Fund reported its monthly results for May 2026, showing net income of $253,265. Total income of $283,226 reflected a $666,857 unrealized gain on commodity futures, which more than offset a $432,488 realized trading loss, plus dividend and interest income.
Total expenses were modest at $29,961, led by professional fees and management fees. Net asset value increased from $15,959,328 at the start of the month to $18,459,672 at month end, helped by $2,900,865 of additions and limited withdrawals. Net asset value per share was $6.59 based on 2,800,000 shares.
Positive
- None.
Negative
- None.
8-K Event Classification
2 items: 7.01, 9.01
2 items
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.
Key Figures
Net income: $253,265
Total income: $283,226
Realized trading loss: $432,488
+5 more
8 metrics
Net income
$253,265
For the month ended May 31, 2026
Total income
$283,226
Includes trading, dividend, interest and fees, May 2026
Realized trading loss
$432,488
On commodity futures, May 2026
Unrealized gain
$666,857
On market value of commodity futures, May 2026
Total expenses
$29,961
Operating expenses for May 2026
Ending NAV
$18,459,672
Net asset value at May 31, 2026
NAV per share
$6.59
Based on 2,800,000 shares at May 31, 2026
Capital additions
$2,900,865
Additions corresponding to 450,000 shares in May 2026
Key Terms
Realized Trading Gain (Loss) on Commodity Futures, Unrealized Gain (Loss) on Market Value of Commodity Futures, Net Asset Value, Commodity Exchange Act, +1 more
5 terms
Realized Trading Gain (Loss) on Commodity Futures financial
"Realized Trading Gain (Loss) on Commodity Futures | | $ | (432,488 | )"
Unrealized Gain (Loss) on Market Value of Commodity Futures financial
"Unrealized Gain (Loss) on Market Value of Commodity Futures | | | 666,857 |"
Net Asset Value financial
"Net Asset Value End of Month | | $ | 18,459,672 | Net Asset Value Per Share"
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.
Commodity Exchange Act regulatory
"as required pursuant to Rule 4.22 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.
Rule 4.22(h) regulatory
"Pursuant to Rule 4.22(h) under the Commodity Exchange Act, the undersigned represents"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
How did United States 12 Month Natural Gas Fund (UNL) perform in May 2026?
The fund generated net income of $253,265 for May 2026. Results were driven by an unrealized gain on commodity futures that outweighed realized trading losses, after covering operating expenses.
What were UNL’s total income and main drivers for May 2026?
Total income was $283,226 for May 2026. A $666,857 unrealized gain on commodity futures offset a $432,488 realized trading loss, supplemented by dividend income, interest income, and ETF transaction fees.
What expenses did UNL incur during May 2026?
Total expenses were $29,961 in May 2026. These included general partner management fees, professional fees, brokerage commissions, directors’ fees and insurance, and license fees related to operating the fund.
How did UNL’s net asset value change in May 2026?
Net asset value rose from $15,959,328 on May 1, 2026 to $18,459,672 at month end. The increase reflected net income plus net additions from investor subscriptions, partially offset by redemptions.
How much new capital flowed into UNL during May 2026?
Additions totaled $2,900,865 corresponding to 450,000 shares, while withdrawals were $653,786 for 100,000 shares. On net, capital inflows supported the overall increase in the fund’s net asset value.