US 12 Month Oil Fund July NAV hits $49.96 a share
United States 12 Month Oil Fund, LP (USL) reported a monthly account statement for the period ended July 31, 2026.
Rhea-AI Filing Summary
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.
Positive
- Net income of $4,392,668 for July 2026, largely from unrealized gains on commodity futures, increased net asset value to $44,964,555.
- Expenses of only $40,438 versus total income of $4,433,106 indicate low operating costs relative to portfolio performance for the month.
Negative
- None.
Filing Explained
The August 28 Form 8-K furnishes—not files—the July monthly account statement under Rule 4.22; its contents, including Exhibit 99.1, are not subject to Section 18 liability or incorporated by reference unless expressly stated.
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, or exhibit attachments filed with this report.
Key Figures
Net income (loss): $4,392,668
Unrealized Gain (Loss) on Market Value of Commodity Futures: $4,353,051
Realized Trading Gain (Loss) on Commodity Futures: $(49,530)
+5 more
8 metrics
Net income (loss)
$4,392,668
For the month ended July 31, 2026
Unrealized Gain (Loss) on Market Value of Commodity Futures
$4,353,051
Income component for the month ended July 31, 2026
Realized Trading Gain (Loss) on Commodity Futures
$(49,530)
Income component for the month ended July 31, 2026
Total expenses
$40,438
For the month ended July 31, 2026
Net Asset Value beginning of month
$40,571,887
Net asset value as of July 1, 2026
Net Asset Value end of month
$44,964,555
Net asset value as of July 31, 2026
Net Asset Value Per Share
$49.96
Based on 900,000 shares as of July 31, 2026
Dividend income
$100,521
For the month ended July 31, 2026
Key Terms
Realized Trading Gain (Loss) on Commodity Futures, Unrealized Gain (Loss) on Market Value of Commodity Futures, Net Asset Value, General Partner Management Fees, +1 more
5 terms
Realized Trading Gain (Loss) on Commodity Futures financial
"Realized Trading Gain (Loss) on Commodity Futures | | $ | (49,530"
Unrealized Gain (Loss) on Market Value of Commodity Futures financial
"Unrealized Gain (Loss) on Market Value of Commodity Futures | | | 4,353,051"
Net Asset Value financial
"Net Asset Value End of Month | | $ | 44,964,555"
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
"General Partner Management Fees | | $ | 22,256"
Regulation FD Disclosure regulatory
"Item 7.01. Regulation FD Disclosure. On August 28, 2026, United States"
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.
FAQ
What was USL's net income for the month ended July 31, 2026?
United States 12 Month Oil Fund, LP (USL) reported net income of $4,392,668 for the month ended July 31, 2026, based on its Statement of Income (Loss) included in the monthly account statement.
How did USL's net asset value change in July 2026?
USL’s net asset value rose from $40,571,887 at July 1, 2026 to $44,964,555 at month-end, according to the Statement of Changes in Net Asset Value.
What were the main drivers of USL's monthly performance in July 2026?
USL’s performance was driven by an unrealized gain on commodity futures of $4,353,051, partially offset by a realized trading loss of $49,530, along with dividend income of $100,521 and interest income of $29,064.
How high were USL’s operating expenses in July 2026?
USL recorded total expenses of $40,438 in July 2026, including general partner management fees of $22,256, professional fees of $16,106, brokerage commissions of $389, directors' fees and insurance of $1,131, and license fees of $556.
Is the July 2026 USL monthly account statement filed or furnished?
The July 2026 monthly account statement for USL is furnished, not filed, under a Regulation FD disclosure and is not deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934.
AI-generated analysis. How Rhea-AI works. Not financial advice.
