8-K: US 12 Month Oil Fund Reports Strong July Gains

United States 12 Month Oil Fund, LP announced a net income of $4,392,668 for July 2026, driven by substantial unrealized gains on commodity futures.

Summary

• The United States 12 Month Oil Fund, LP reported a net income of $4,392,668 for the month ended July 31, 2026.
• This income was primarily driven by a significant unrealized gain on commodity futures, amounting to $4,353,051.
• Realized trading losses on commodity futures were $(49,530).
• Dividend income and interest income contributed $100,521 and $29,064, respectively.
• Total expenses for the month were $40,438, including management fees, professional fees, brokerage commissions, directors' fees, and license fees.
• The Net Asset Value (NAV) increased from $40,571,887 at the beginning of the month to $44,964,555 at the end of the month.
• The Net Asset Value per share was $49.96, based on 900,000 shares outstanding.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a positive report, with significant unrealized gains driving substantial net income for the period.

Positives

• Substantial net income of $4,392,668 for the month.
• Significant unrealized gain on commodity futures totaling $4,353,051.
• Increase in Net Asset Value from $40,571,887 to $44,964,555.
• Positive contribution from dividend income ($100,521) and interest income ($29,064).

Negatives

• Realized trading losses on commodity futures amounted to $(49,530).

Future Outlook

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

Management Comments

• To the Limited Partners of United States 12 Month Oil Fund, LP: Pursuant to Rule 4.22(h) under the Commodity Exchange Act, the undersigned 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 this filing reflects a typical monthly performance update for a commodity-focused investment fund. The significant impact of unrealized gains highlights the inherent volatility and potential for substantial swings in value associated with futures trading.

Stakeholder Impact

• Shareholders benefit from the increase in Net Asset Value and the positive net income reported for the month.
• Limited Partners are provided with transparency into the fund's performance and financial position as required by regulations.

Key Dates

Recommendation

The filing shows strong performance driven by market movements in commodity futures, leading to a significant increase in NAV. However, the reliance on unrealized gains and the presence of realized losses suggest volatility. A 'hold' recommendation is appropriate given the positive results but acknowledging the inherent risks of futures trading and the lack of forward-looking guidance.

Keywords

Oil Fund, Commodity Futures, Net Asset Value, Income Statement, Trading Gains, Management Fees, Investment Fund