United States 12 Month Natural Gas Fund (UNL) releases October 2025 NAV and income update

Q: What financial information does the new UNL monthly account statement contain?

The monthly account statement contains a Statement of Income (Loss) and a Statement of Changes in Net Asset Value , prepared in line with Rule 4.22 under the Commodity Exchange Act.

Q: Who signed this UNL current report on behalf of the fund?

The report was signed on behalf of the fund by Stuart P. Crumbaugh , Chief Financial Officer of United States Commodity Funds LLC, the general partner of the fund.

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

United States 12 Month Natural Gas Fund, LP reported that it has released its monthly account statement for the month ended October 31, 2025. The update is presented as a Statement of Income (Loss) and a Statement of Changes in Net Asset Value, as required under commodities regulations.

The fund furnished this monthly statement as an exhibit to a current report and also made it available on its website at www.uscfinvestments.com. The information is being provided for disclosure purposes and is not treated as being formally filed under securities laws unless later specifically incorporated into another filing.

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.

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Accepted by SEC EDGAR 12/01/2025 - 06:11 AM

FAQ

What did United States 12 Month Natural Gas Fund (UNL) announce in this 8-K?

The fund announced that it issued its monthly account statement for the month ended October 31, 2025, including a Statement of Income (Loss) and a Statement of Changes in Net Asset Value.

What financial information does the new UNL monthly account statement contain?

The monthly account statement contains a Statement of Income (Loss) and a Statement of Changes in Net Asset Value, prepared in line with Rule 4.22 under the Commodity Exchange Act.

Where can investors access the October 31, 2025 monthly statement for UNL?

Investors can access the statement as Exhibit 99.1 to the current report and on the fund’s website at www.uscfinvestments.com.

Is the UNL monthly account statement considered filed under the Securities Exchange Act?

The report states that the information provided, including Exhibit 99.1, is furnished and not deemed to be “filed” under Section 18 of the Securities Exchange Act, unless specifically incorporated by reference in another filing.

Which exchange lists the shares of United States 12 Month Natural Gas Fund, LP (UNL)?

Shares of United States 12 Month Natural Gas Fund, LP trade on NYSE Arca, Inc. under the trading symbol UNL.

Who signed this UNL current report on behalf of the fund?

The report was signed on behalf of the fund by Stuart P. Crumbaugh, Chief Financial Officer of United States Commodity Funds LLC, the general partner of the fund.

UNITED STATES

SECURITIES AND EXCHANGE COMMISION

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): November 28, 2025

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 November 28, 2025, United States 12 Month Natural Gas Fund, LP (the “Registrant”) issued its monthly account statement for the month ended October 31, 2025, 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:      November 28, 2025	By:	/s/ Stuart P. Crumbaugh
	Name:	Stuart P. Crumbaugh
	Title:	Chief Financial Officer

Source: View Original Filing on SEC EDGAR