Every 8-K that United States 12 Month Oil Fund, LP (USL) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 8-K covers material events a company has to report between its quarterly reports, so if you follow USL and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full USL filings page.
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 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 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.
United States 12 Month Oil Fund, LP (USL) furnished its audited financial statements for 2025, showing a swing to loss after a strong 2024. For the year ended December 31, 2025, USL reported a net loss of $5,764,786 versus net income of $5,056,744 in 2024, driven mainly by realized and unrealized losses on crude oil futures.
Total income from trading, dividends and interest was a loss of $5,333,392 in 2025 compared with positive income of $5,675,975 a year earlier. Partners’ capital declined to $36,643,640 from $49,416,184, as redemptions exceeded creations and performance was negative. Net asset value per share fell to $33.31 from $38.01, producing a total return of (12.37)% after a 7.89% gain in 2024.
At year-end 2025, USL held 1,100,000 limited partner shares outstanding and maintained a predominantly cash and cash-equivalent collateral base alongside 642 long NYMEX WTI crude oil futures contracts with aggregate notional value of $39,654,303. An independent registered public accounting firm issued unqualified opinions on both the financial statements and internal control over financial reporting, noting no critical audit matters.
United States 12 Month Oil Fund, LP furnished its monthly account statement for the month ended February 28, 2026. The fund reported net income of $1,518,244, driven mainly by an unrealized gain on commodity futures of $1,454,650, partially offset by a small realized trading loss.
Dividend income of $73,746, interest income of $42,360 and ETF transaction fees of $1,400 contributed to total income of $1,551,316, while expenses totaled $33,072. Net asset value rose from $40,704,362 at the beginning of the month to $43,981,289 at month-end, with NAV per share of $38.24 based on 1,150,000 shares outstanding.
United States 12 Month Oil Fund, LP furnished the audited statements of financial condition of its general partner, United States Commodity Funds LLC (USCF), as of December 31, 2025 and 2024. USCF reported total assets of $6,712,164 and member’s equity of $5,075,965 at year-end 2025.
USCF’s balance sheet is driven by cash, money market investments, and management fees receivable from its commodity funds, including USO, UNG, USL, and others. It holds operating lease right-of-use assets for its Walnut Creek office and records deferred tax assets mainly from fund start-up costs and accruals.
The notes describe revenue based on management fees tied to each fund’s average daily net assets, fair value measurement of investments, lease commitments through March 2028, and concentration of receivables in USO and UNG. USCF also discloses multiple legal proceedings and prior SEC and CFTC settlement orders, noting no loss accrual has been recorded but that adverse outcomes could materially affect its financial condition, results of operations, and cash flows. Subsequent to year-end, USCF paid dividends totaling $850,000 to its parent.
United States 12 Month Oil Fund, LP furnished an updated monthly account statement for the month ended January 31, 2026. The statement, prepared as required under Rule 4.22 of the Commodity Exchange Act, presents a Statement of Income (Loss) and a Statement of Changes in Net Asset Value. It is provided as an exhibit to the current report and is also available on the fund’s website, giving investors a regular view into the fund’s recent performance and net asset value changes.
United States 12 Month Oil Fund, LP furnished an informational update by providing its monthly account statement for the month ended December 31, 2025. The statement includes a Statement of Income (Loss) and a Statement of Changes in Net Asset Value, prepared under Commodity Exchange Act Rule 4.22.
This information is furnished as Exhibit 99.1 to the current report and is also available on the fund’s website at www.uscfinvestments.com. The materials are designated as “furnished,” not “filed,” which limits their use for certain securities law liability and incorporation-by-reference purposes.
United States 12 Month Oil Fund, LP reported that it issued its monthly account statement for the month ended November 30, 2025. The statement is presented as a Statement of Income (Loss) and a Statement of Changes in Net Asset Value, as required under Rule 4.22 of the Commodity Exchange Act.
The account statement is furnished as Exhibit 99.1 and is also available on the fund’s website at www.uscfinvestments.com. The information in this report, including Exhibit 99.1, is being furnished rather than filed, which limits how it is treated under certain liability provisions of the Securities Exchange Act and the Securities Act.
United States 12 Month Oil Fund, LP reported that it has released its monthly account statement for the month ended October 31, 2025. The update is provided as a Form 8-K under Regulation FD, meaning it is intended to share information broadly with the market at the same time.
The statement, furnished as Exhibit 99.1, includes a Statement of Income (Loss) and a Statement of Changes in Net Asset Value, as required under Commodity Exchange Act Rule 4.22. Investors can also access this monthly account statement on the fund’s website at www.uscfinvestments.com. The information is being furnished rather than filed, so it is not automatically incorporated into other securities law filings unless specifically referenced.
United States 12 Month Oil Fund, LP (USL) furnished its monthly account statement for the month ended September 30, 2025 via an 8-K under Item 7.01 (Regulation FD).
The statement, filed as Exhibit 99.1, includes a Statement of Income (Loss) and a Statement of Changes in Net Asset Value, and is also available at www.uscfinvestments.com. The information is furnished and not deemed “filed” under Section 18 of the Exchange Act or incorporated by reference unless expressly stated.
United States 12 Month Oil Fund, LP furnished an update by releasing its monthly account statement for the month ended August 31, 2025. The statement includes a Statement of Income (Loss) and a Statement of Changes in Net Asset Value, as required under Commodity Exchange Act Rule 4.22.
The fund attached this information as Exhibit 99.1 to the current report and also made it available on its website. This information is treated as furnished, not filed, which limits its use for certain securities law liability purposes and incorporation into other registration documents.