United States 12 Month Natural Gas Fund, LP — Form 8-K
Filed October 30, 2026 · analyzed by the 8-K Agent
8-K
▼ Likely negative
significance 48/100
What the filing says
For September 2026, the fund reported a net loss of $494,246 on realized trading losses of $393,955 and unrealized losses of $121,165 on natural gas futures positions. Net asset value declined from $16.48M to $15.99M (9/1 to 9/30), reducing per-share NAV from $5.88 to $5.71, representing a 2.9% monthly decline. Total expenses were $28,236, primarily professional fees ($18,701) and management fees ($8,054).
Why this rating
Monthly loss of ~3% of NAV is material for a $12M fund, but routine for volatility-exposed commodity vehicles. No structural change disclosed.
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