8-K: Natural Gas Fund Reports July 2026 Losses

United States 12 Month Natural Gas Fund, LP reported a net loss of $1,175,403 for July 2026, primarily driven by trading losses in commodity futures.

Summary

• The United States 12 Month Natural Gas Fund, LP (the Registrant) has issued its monthly account statement for July 2026.
• The fund experienced a total income (loss) of $(1,145,173) for the month.
• Total expenses for the month amounted to $30,230.
• The net loss for July 2026 was $(1,175,403).
• The Net Asset Value (NAV) decreased from $17,335,926 at the beginning of the month to $16,160,523 at the end of the month.
• The Net Asset Value Per Share was $5.99, based on 2,700,000 shares outstanding.

Sentiment

Score: 3

Explanation: StockSavvy.ai views this as a negative sentiment due to significant trading losses and a decrease in net asset value, despite some minor income sources.

Positives

• The fund generated $44,190 in dividend income.
• Interest income for the month was $5,578.

Negatives

• The fund incurred a realized trading loss on commodity futures of $(404,290).
• There was an unrealized loss on the market value of commodity futures totaling $(790,651).
• The total net loss for the month was $(1,175,403).
• Net Asset Value decreased by $1,175,403 during July 2026.

Risks

• Volatility in commodity futures markets can lead to significant realized and unrealized trading losses.
• Market value fluctuations of commodity futures directly impact the fund's net asset value.

Future Outlook

No specific forward-looking statements or guidance were provided in this monthly account statement filing.

Management Comments

• Stuart P. Crumbaugh, Chief Financial Officer, represents that, to the best of his knowledge and belief, the information contained in the Account Statement for the month ended July 31, 2026 is accurate and complete.

Industry Context

StockSavvy.ai notes that natural gas commodity funds are highly susceptible to market volatility. The significant losses reported in July 2026 reflect the challenging trading environment for energy commodities during that period, potentially influenced by supply/demand dynamics, geopolitical events, or weather patterns.

Stakeholder Impact

• Shareholders (Limited Partners) are directly impacted by the decrease in Net Asset Value, resulting in a reduction of their investment value.
• The fund's performance may affect investor confidence and future investment decisions.

Next Steps

• The fund will continue to operate and report its monthly account statements as required.
• Limited Partners will receive the monthly account statement detailing financial performance.

Key Dates

Recommendation

The filing indicates a significant loss for the month, which is a negative indicator. However, it is a monthly statement for a commodity fund, which are inherently volatile. Without more context on the fund's strategy, market conditions, and historical performance, a 'hold' recommendation is prudent, suggesting investors monitor future performance rather than making immediate buy or sell decisions based on a single month's results.

Keywords

Natural Gas Fund, Commodity Futures, Monthly Account Statement, Income Statement, Net Asset Value, Trading Loss, SEC Filing