8-K: US Gasoline Fund LP Reports May 2026 Financials

United States Gasoline Fund, LP has released its monthly account statement for May 2026, reporting a net loss of $18,128,357.

Summary

• The United States Gasoline Fund, LP (the Registrant) has issued its monthly account statement for the period ending May 31, 2026.
• The statement includes a Statement of Income (Loss) and a Statement of Changes in Net Asset Value.
• The fund reported a total net loss of $18,128,357 for the month.
• This loss is primarily driven by an unrealized loss on the market value of commodity futures amounting to $40,915,530, partially offset by a realized trading gain on commodity futures of $22,499,660.
• Total expenses for the month were $115,362.
• The Net Asset Value (NAV) at the beginning of May 2026 was $137,632,255.
• During the month, there were additions of 150,000 shares and withdrawals of 100,000 shares.
• The Net Asset Value at the end of May 2026 decreased to $125,741,686.
• The Net Asset Value Per Share as of May 31, 2026, was $104.78, based on 1,200,000 shares.

Sentiment

Score: 3

Explanation: StockSavvy.ai views this as a negative sentiment due to the substantial net loss and significant unrealized losses on commodity futures, despite some realized gains and income.

Positives

• Realized trading gains on commodity futures amounted to $22,499,660.
• Dividend income of $289,427 and interest income of $111,698 were generated.
• The fund experienced additions of 150,000 shares during the month.

Negatives

• The fund reported a significant net loss of $18,128,357 for the month ended May 31, 2026.
• An unrealized loss on the market value of commodity futures was substantial at $40,915,530.
• The Net Asset Value decreased by $11,890,569 during the month, from $137,632,255 to $125,741,686.
• Withdrawals of 100,000 shares were made during the month.

Risks

• The primary risk highlighted is the volatility of commodity futures markets, as evidenced by the significant unrealized loss on the market value of commodity futures.

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 May 31, 2026, is accurate and complete.

Industry Context

StockSavvy.ai notes that this filing reflects the inherent volatility in commodity-based ETFs, particularly those tied to energy markets like gasoline. The significant unrealized losses underscore the sensitivity of such funds to market fluctuations and derivative positions.

Stakeholder Impact

• Shareholders: The net loss and decrease in Net Asset Value per Share directly impact the value of their investment.
• Creditors: No direct impact mentioned, but fund performance can affect its ability to meet obligations.
• Suppliers: No direct impact mentioned.

Next Steps

• The fund will continue to operate and issue monthly account statements as required by regulations.

Key Dates

Recommendation

The filing shows a significant loss for the month, driven by market volatility in commodity futures. While concerning, the fund also generated realized gains and income. Given the nature of commodity funds, such volatility is expected. A 'hold' recommendation is appropriate pending further market developments and the fund's ability to manage these fluctuations.

Keywords

Gasoline Fund, Commodity Futures, SEC Filing, 8-K, Financial Statement, Net Asset Value, Income Loss, Trading Gain Loss, Unrealized Loss, ETF