8-K: US Gasoline Fund Reports Strong January Gains

United States Gasoline Fund, LP reported a net income of over $9 million for January 2026, driven by significant trading gains in commodity futures.

Summary

• United States Gasoline Fund, LP (UGA) issued its monthly account statement for the month ended January 31, 2026.
• The fund reported a total income of $9,099,626 for January 2026.
• This income was primarily driven by a realized trading gain on commodity futures of $3,869,951 and an unrealized gain on market value of commodity futures of $4,991,117.
• Additional income sources included dividend income of $91,766 and interest income of $146,792.
• Total expenses for the month amounted to $71,797, including General Partner Management Fees of $41,089, Professional Fees of $18,090, and Brokerage Commissions of $6,509.
• The net income for January 2026 was $9,027,829.
• The Net Asset Value (NAV) at the beginning of the month (January 1, 2026) was $77,213,246.
• The NAV at the end of the month (January 31, 2026) increased to $86,241,075.
• The Net Asset Value Per Share, based on 1,250,000 shares, was $68.99 at month-end.

Sentiment

Score: 9

Explanation: StockSavvy.ai views this as a highly positive report, reflecting strong financial performance with significant net income and a substantial increase in Net Asset Value for the month.

Positives

• Significant net income of $9,027,829 for the month of January 2026.
• Strong realized trading gain on commodity futures of $3,869,951.
• Substantial unrealized gain on market value of commodity futures totaling $4,991,117.
• Net Asset Value increased from $77,213,246 at the beginning of January to $86,241,075 by month-end, representing a healthy monthly growth.
• Net Asset Value Per Share rose to $68.99.

Negatives

• No explicit negative financial results or operational setbacks were disclosed in the filing.

Risks

• No new specific risks were disclosed in this routine monthly filing. The fund's performance is inherently subject to the volatility and risks associated with commodity futures trading, which are not detailed as new or changed risks in this report.

Future Outlook

The filing is a historical monthly account statement and does not contain explicit forward-looking statements or guidance regarding future performance.

Management Comments

• Stuart P. Crumbaugh, Chief Financial Officer of United States Commodity Funds LLC (the General Partner), represented that, to the best of his knowledge and belief, the information contained in the Account Statement for the month ended January 31, 2026, is accurate and complete.

Industry Context

StockSavvy.ai notes that the strong performance of the United States Gasoline Fund in January 2026, driven by significant gains in commodity futures, likely reflects favorable market conditions for energy commodities during that period. This could indicate robust demand or supply-side factors influencing gasoline prices and related futures contracts.

Comparison to Industry Standards

• The filing does not provide sufficient information for a detailed comparison to specific industry benchmarks or the performance of comparable funds or projects. A comprehensive assessment would require external data on the broader energy commodity market and peer group performance for January 2026.

Related Party Transactions

• General Partner Management Fees of $41,089 were paid to United States Commodity Funds LLC, the fund's general partner, representing a routine related-party transaction as part of the fund's operational structure.

Stakeholder Impact

• Shareholders are positively impacted by the significant increase in Net Asset Value and Net Asset Value Per Share, indicating growth in their investment value.

Next Steps

• The fund is required to continue issuing monthly account statements pursuant to Rule 4.22 under the Commodity Exchange Act.

Key Dates

Recommendation

Based on the strong financial performance reported for January 2026, including a substantial net income and a significant increase in Net Asset Value, a seasoned investor or institution would likely view this as a positive indicator for the fund's short-term prospects, warranting a 'buy' recommendation, assuming market conditions for energy commodities remain favorable.

Keywords

United States Gasoline Fund, UGA, Commodity Futures, Net Asset Value, Gasoline ETF, Energy Fund, Monthly Report, Trading Gain