---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-039895"
form_type: "8-K"
ticker: "BNO"
cik: "0001472494"
company_name: "United States Brent Oil Fund, LP"
filed_at: "2025-04-28T23:59:59+00:00"
generated_at: "2026-05-23T04:54:42.622239+00:00"
event_type: "other"
sentiment: "neutral"
materiality_score: 0.25
calibrated_materiality_score: 0.25
confidence: "high"
source: SEC EDGAR
---

# BNO March 2025 monthly account: NAV $31.13, net income $3.6M

## Summary
- Net income of $3,622,900 for March 2025; NAV per share $31.13 on 3.15M shares.
- Realized trading loss of $5.27M offset by unrealized gain of $8.66M on commodity futures.
- Total NAV increased to $98.06M from $90.10M at month start.
- Monthly additions: 200k shares ($5.78M); withdrawals: 50k shares ($1.44M).
- Management fees $58,444; total expenses $79,721.

## SEC filing metadata
- accession: 0001104659-25-039895
- form_type: 8-K
- ticker: BNO
- cik: 0001472494
- company_name: United States Brent Oil Fund, LP
- filed_at: 2025-04-28T23:59:59+00:00
- event_type: other
- sentiment: neutral
- materiality_score: 0.25
- calibrated_materiality_score: 0.25
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1472494/000110465925039895/0001104659-25-039895-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1472494/000110465925039895/tm2512319d6_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-039895
- JSON: https://secwatch.observer/filing/0001104659-25-039895.json
- Plain text: https://secwatch.observer/filing/0001104659-25-039895.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.