March 2026 results for United States 12 Month Oil Fund (NYSE: USL)
Rhea-AI Filing Summary
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.
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
Realized trading gain on futures: $2,206,600
Unrealized gain on futures: $8,949,290
Total income: $11,326,955
+5 more
8 metrics
Realized trading gain on futures
$2,206,600
Realized trading gain (loss) on commodity futures, March 2026
Unrealized gain on futures
$8,949,290
Unrealized gain (loss) on market value of commodity futures, March 2026
Total income
$11,326,955
Total income (loss) for month ended March 31, 2026
Total expenses
$42,583
Total expenses for month ended March 31, 2026
Net income
$11,284,372
Net income (loss) for month ended March 31, 2026
Beginning net asset value
$43,981,289
Net asset value at 3/1/26
Ending net asset value
$59,736,158
Net asset value at March 31, 2026
NAV per share
$47.79
Net asset value per share at March 31, 2026 (1,250,000 shares)
Key Terms
Regulation FD Disclosure, Commodity Exchange Act, Statement of Income (Loss), Net Asset Value, +2 more
6 terms
Regulation FD Disclosure regulatory
"Item 7.01. Regulation FD Disclosure. On April 29, 2026, United States 12 Month Oil Fund, LP"
Regulation FD disclosure requires public companies to share important, market-moving information with everyone at the same time instead of tipping off analysts or large investors first. Think of it as making sure all players on a field hear the same announcement simultaneously; that fairness helps investors trust that stock prices reflect the same information and reduces the risk of sudden, unfair trading advantages or regulatory penalties for selective leaks.
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.
Statement of Income (Loss) financial
"presented in the form of a Statement of Income (Loss) and a Statement of Changes in Net Asset Value"
Net Asset Value financial
"Statement of Changes in Net Asset Value"
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.
Limited Partners financial
"To the Limited Partners of United States 12 Month Oil Fund,"
Limited partners are investors who provide most of the capital to an investment partnership but do not run its day-to-day business; they have liability only up to the amount they invested. Think of them as silent backers who hire a manager to make decisions and share in profits or losses; their importance to investors lies in shaping how much money a fund can deploy, the risk and return profile they receive, and the liquidity and fees associated with that investment.
general partner financial
"United States Commodity Funds LLC, General Partner of United States 12 Month Oil Fund"
A general partner is the person or firm that runs an investment partnership and legally represents it — they make the day-to-day decisions, choose which assets to buy or sell, and are responsible for the partnership’s obligations. Investors care because the general partner’s judgment, risk-taking and fee and profit-sharing arrangements determine both the potential returns and the level of exposure to losses; think of the GP as the ship’s captain whose skill and honesty shape the voyage’s outcome.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What were United States 12 Month Oil Fund (USL) March 2026 results?
United States 12 Month Oil Fund reported net income of $11,284,372 for March 2026. Total income was $11,326,955, mainly from realized and unrealized gains on commodity futures, against total expenses of $42,583 for the month.
How did USL’s net asset value change in March 2026?
Net asset value increased from $43,981,289 at March 1, 2026 to $59,736,158 at March 31, 2026. This change reflects net income, additions of capital, and withdrawals during the month, as detailed in the statement of changes in net asset value.
How much income did USL generate from commodity futures in March 2026?
The fund recorded realized trading gains on commodity futures of $2,206,600 and unrealized gains of $8,949,290 in March 2026. These futures-related amounts made up the majority of the fund’s total income for the month.
What were the main expense items for USL in March 2026?
Total expenses were $42,583 for March 2026. Key components included general partner management fees of $29,142, professional fees of $10,916, brokerage commissions of $836, directors’ fees and insurance of $961, and license fees of $728.