8-K: Natural Gas Fund Reports June 2026 Loss

United States 12 Month Natural Gas Fund, LP reported a net loss of $480,860 for June 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 June 2026.
• The fund reported a net loss of $480,860 for the month.
• This loss was primarily due to trading activities, with realized and unrealized losses on commodity futures totaling $398,305 and $104,704, respectively.
• Total income (loss) for the month was $(451,073).
• Total expenses for the month amounted to $29,787, including management fees, professional fees, and brokerage commissions.
• The Net Asset Value (NAV) at the beginning of June 2026 was $18,459,672.
• During the month, there were withdrawals totaling $642,886.
• The Net Asset Value at the end of June 2026 was $17,335,926, with a Net Asset Value Per Share of $6.42 based on 2,700,000 shares.

Sentiment

Score: 3

Explanation: StockSavvy.ai views this as a negative sentiment due to the reported net loss and significant trading losses, despite some positive income streams.

Positives

• Dividend income of $43,057 was received.
• Interest income of $8,529 was generated.

Negatives

• Realized trading loss on commodity futures of $398,305.
• Unrealized loss on commodity futures of $104,704.
• Net loss for the month of $480,860.
• Net Asset Value decreased by $1,123,746 during the month.
• Withdrawals of $642,886 were made from the fund.

Risks

• Volatility in commodity futures markets can lead to significant realized and unrealized trading gains or losses.
• Market fluctuations in natural gas prices pose a direct risk to the fund's performance.

Future Outlook

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

Management Comments

• To the best of his knowledge and belief, the information contained in the Account Statement for the month ended June 30, 2026 is accurate and complete.

Industry Context

StockSavvy.ai notes that monthly account statements for commodity-focused funds like the United States 12 Month Natural Gas Fund, LP, are highly sensitive to commodity price movements and trading strategies. The reported loss reflects the inherent volatility in the natural gas market and the impact of futures trading.

Stakeholder Impact

• Shareholders experienced a decrease in the Net Asset Value of their investment due to the reported net loss and withdrawals.

Next Steps

• Continue to monitor monthly account statements for performance updates.
• Review future filings for any changes in trading strategy or market outlook.

Key Dates

Recommendation

The filing indicates a loss for the month, which is a negative indicator. However, it is a monthly statement for a commodity fund, which is expected to be volatile. Without more context on the fund's strategy, market conditions, and longer-term performance, a 'hold' recommendation is appropriate, suggesting investors maintain their current position while observing future performance.

Keywords

Natural Gas Fund, Commodity Futures, Monthly Account Statement, Net Asset Value, Trading Loss, Income Statement, SEC Filing, Form 8-K