United States 12 Month Oil Fund, LP filings document regulatory reporting for a commodity fund whose disclosures include monthly account statements and annual financial statements. The fund furnishes Form 8-K materials under Regulation FD, including Statements of Income (Loss) and Statements of Changes in Net Asset Value required under Commodity Exchange Act Rule 4.22.
The filings describe realized and unrealized commodity futures results, dividend and interest income, net asset value changes, and related fund financial reporting. They also include financial-condition records for United States Commodity Funds LLC, the fund's general partner.
United States 12 Month Oil Fund, LP (USL) reported its monthly account statement for the month ended August 31, 2026. Net income was $2,128,917, including realized trading gains on commodity futures of $744,539, unrealized gains on their market value of $1,293,169, dividend income of $101,189, and interest income of $30,638. Total expenses were $40,968.
Net asset value was $44,487,522 at month-end, compared with $44,964,555 at the beginning of the month. The statement reports withdrawals of 50,000 shares ($2,605,950) and net asset value per share of $52.34 for 850,000 shares.
United States 12 Month Oil Fund, LP (USL) reported that its indirect parent, The Marygold Companies, Inc. (TMC), entered into a definitive agreement with Madison Dearborn Partners (MDP) for TMC to become privately held in an all-cash transaction. TMC is the sole shareholder of USCF Investments, Inc., which is the holding company and sole member of United States Commodity Funds LLC (USCF), USL’s general partner.
The transaction is expected to close during the first half of 2027 or earlier upon satisfaction of customary closing conditions, including TMC stockholder approval, regulatory approvals, and certain change-of-control approvals. If completed, TMC’s common stock will no longer be listed on the New York Stock Exchange. MDP and TMC’s leaders indicated that, after closing and at the appropriate time, they will execute on TMC’s previously announced transformation strategy to refocus USCF’s business. There is no guarantee the transaction will be completed within the expected timeframe, or at all.
United States 12 Month Oil Fund, LP (USL) reported a monthly account statement for the period ended July 31, 2026. Net income for the month was $4,392,668, driven primarily by an unrealized gain on commodity futures of $4,353,051, partially offset by a realized trading loss of $49,530.
Net asset value increased from $40,571,887 at the beginning of July to $44,964,555 at month-end, with net asset value per share at $49.96 based on 900,000 shares. Total expenses were modest at $40,438, including general partner management fees, professional fees, and other operating costs.
United States 12 Month Oil Fund, LP is a commodity pool that seeks to track the average of 12 consecutive NYMEX light, sweet crude oil futures contracts plus interest on collateral, less expenses. For the six months ended June 30, 2026, the fund generated net income of $14,995,019 and a total return of 35.33%, as per share NAV rose from $33.31 to $45.08.
Total assets were $40.7 million with partners’ capital of $40.6 million and minimal liabilities. USL held 597 NYMEX WTI crude oil futures with notional value of $41.8 million and an unrealized loss of $1.24 million, alongside $33.0 million in money market funds. Management fees ran at 0.60% of average net assets, with other expenses about 0.37%, while commissions were only 0.02% annualized. Over the period, the average price of the Benchmark Oil Futures Contracts increased about 19.06%, and USL’s actual total return outperformed its benchmark calculation by 1.64 percentage points, reflecting interest and dividend income net of expenses and execution.
United States 12 Month Oil Fund, LP reported a net loss of $6,084,012 for the month ended June 30, 2026, based on its monthly account statement furnished under Regulation FD. Total income (loss) was a loss of $6,042,163, driven by an unrealized loss of $8,274,706 on commodity futures that more than offset a realized trading gain of $2,094,902 plus dividend and interest income.
Fund expenses for the month were $41,849. Net asset value decreased from $54,024,343 at June 1, 2026 to $40,571,887 at June 30, 2026 after accounting for the net loss and $7,368,444 of withdrawals (150,000 shares). Net asset value per share at month-end was $45.08 based on 900,000 shares.
United States 12 Month Oil Fund, LP reported a net loss of $2,614,461 for the month ended May 31, 2026. The fund generated a realized trading gain on commodity futures of $3,613,175, but this was more than offset by an unrealized loss on futures market values of $6,349,556, leading to total income of -$2,566,067. Operating expenses were modest at $48,394, mainly management and professional fees. Net asset value decreased from $59,033,804 at the beginning of May to $54,024,343 at month-end, reflecting both the investment loss and net withdrawals. Additions of $5,342,524 from 100,000 new shares were more than offset by withdrawals of $7,737,524 from 150,000 shares, and net asset value per share at May 31, 2026 was $51.45 based on 1,050,000 shares outstanding.
United States 12 Month Oil Fund, LP reported a net income of $6,830,154 for the month ended April 30, 2026. Results were driven mainly by a realized trading gain on commodity futures of $5,249,516 and an unrealized gain on futures of $1,458,470, plus dividend and interest income.
Total income was $6,873,830 against expenses of only $43,676, leaving most of the trading gains flowing through to investors. Net asset value was $59,736,158 at the start of April and ended at $59,033,804 after additions of 100,000 shares, withdrawals of 250,000 shares, and the month’s net income.
Net asset value per share was $53.67 based on 1,100,000 shares at month-end, giving investors a clear snapshot of the fund’s April performance and asset base.
United States 12 Month Oil Fund, LP filed Post-Effective Amendment No. 4 to its Form S-1 (Registration No. 333-270699) on May 14, 2026 under Rule 462(d). The amendment consists solely of additional exhibits and will become effective immediately upon filing pursuant to Rule 462(d).
The amendment does not modify other parts of the registration statement; it incorporates the registration statement by reference and lists exhibits, undertakings and estimated issuance expenses including an estimated $20,000 legal fee.
United States 12 Month Oil Fund, LP reports a sharply higher first-quarter 2026 driven by gains in crude oil futures. Net income reached $16.9 million for the three months ended March 31, 2026, compared with $344,065 a year earlier, as realized and unrealized gains on WTI futures totaled about $16.6 million.
Net asset value per share rose from $33.31 at December 31, 2025 to $47.79 at March 31, 2026, a 43.47% total return for the period. Total assets increased to $65.5 million, with partners’ capital of $59.7 million and 1,250,000 limited partner shares outstanding at quarter-end.
The fund held 758 NYMEX WTI crude oil futures contracts with notional value of about $47.8 million and an unrealized gain of $11.9 million, alongside $41.6 million in government money market funds. Average daily total net assets were $46.3 million, with a management fee of 0.60% per year and total expenses remaining modest relative to income.
United States 12 Month Oil Fund, LP furnished its monthly account statement for the month ended March 31, 2026. The fund reported net income of $11,284,372, driven mainly by realized trading gains on commodity futures of $2,206,600 and unrealized gains of $8,949,290. Total income was $11,326,955 against total expenses of $42,583.
Net asset value rose from $43,981,289 at the beginning of March to $59,736,158 at month-end. Additions of 150,000 shares contributed $6,959,746, while withdrawals of 50,000 shares totaled $2,489,249. Net asset value per share at March 31, 2026 was $47.79 based on 1,250,000 shares.