US 12 Month Oil Fund (NYSE: USL) reports April 2026 net income and NAV
Rhea-AI Filing Summary
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.
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: $6,830,154
Realized trading gain on futures: $5,249,516
Unrealized gain on futures: $1,458,470
+5 more
8 metrics
Net income
$6,830,154
Month ended April 30, 2026
Realized trading gain on futures
$5,249,516
Commodity futures, April 2026
Unrealized gain on futures
$1,458,470
Market value change, April 2026
Total income
$6,873,830
Month ended April 30, 2026
Total expenses
$43,676
Operating expenses, April 2026
Ending NAV
$59,033,804
Net asset value at April 30, 2026
NAV per share
$53.67
Based on 1,100,000 shares at April 30, 2026
Capital additions
$4,841,303
100,000 shares added in April 2026
Key Terms
Realized Trading Gain (Loss) on Commodity Futures, Unrealized Gain (Loss) on Market Value of Commodity Futures, Net Asset Value, Regulation FD Disclosure, +1 more
5 terms
Realized Trading Gain (Loss) on Commodity Futures financial
"Realized Trading Gain (Loss) on Commodity Futures | | $ | 5,249,516"
Unrealized Gain (Loss) on Market Value of Commodity Futures financial
"Unrealized Gain (Loss) on Market Value of Commodity Futures | | | 1,458,470"
Net Asset Value financial
"Statement of Changes in Net Asset Value | | | ------------------------------------------------ Net Asset Value Beginning of Month"
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.
Regulation FD Disclosure regulatory
"Item 7.01. Regulation FD Disclosure. On May 28, 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.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
How did United States 12 Month Oil Fund (USL) perform in April 2026?
United States 12 Month Oil Fund generated net income of $6,830,154 in April 2026. This came mainly from realized and unrealized gains on commodity futures, providing investors with a profitable month on the fund’s oil futures-based strategy.
What drove USL’s net income for the month ended April 30, 2026?
USL’s April 2026 net income of $6,830,154 was largely driven by a realized trading gain on commodity futures of $5,249,516 and an unrealized gain of $1,458,470, supported by dividend, interest, and ETF transaction fee income.
What was United States 12 Month Oil Fund’s net asset value at April 30, 2026?
At April 30, 2026, USL reported a net asset value of $59,033,804. This reflected a beginning balance of $59,736,158, additions and withdrawals of capital, and the month’s net income from its commodity futures and related investments.
How much capital flowed into and out of United States 12 Month Oil Fund in April 2026?
During April 2026, USL recorded capital additions of $4,841,303 tied to 100,000 new shares and withdrawals of $12,373,811 tied to 250,000 redeemed shares. These investor flows, combined with net income, determined the month-end net asset value.
What were the main expenses for United States 12 Month Oil Fund in April 2026?
USL’s April 2026 expenses totaled $43,676, including general partner management fees of $28,504, professional fees, brokerage commissions, directors’ fees and insurance, and license fees. These operating costs were small relative to the fund’s total income for the month.