---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-053373"
form_type: "8-K"
ticker: "BNO"
cik: "0001472494"
company_name: "United States Brent Oil Fund, LP"
filed_at: "2025-05-28T23:59:59+00:00"
generated_at: "2026-05-20T07:48:21.910213+00:00"
event_type: "other"
sentiment: "negative"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# BNO reports $16.16M net loss for April 2025; NAV per share drops to $25.85

## Summary
- Net loss of $16,160,178 for month ended April 30, 2025, including $4.98M realized trading loss and $11.39M unrealized loss.
- Net asset value per share fell to $25.85 on 2.9M shares from $98.06M total NAV at month start.
- Net subscriptions of 50,000 shares added $1.55M; net redemptions of 300,000 shares removed $8.48M.
- Dividend income $146,701 and interest income $126,264; total expenses $60,783 (GP management fees $51,355).
- Monthly account statement filed under CFTC Rule 4.22; available on fund's website.

## SEC filing metadata
- accession: 0001104659-25-053373
- form_type: 8-K
- ticker: BNO
- cik: 0001472494
- company_name: United States Brent Oil Fund, LP
- filed_at: 2025-05-28T23:59:59+00:00
- event_type: other
- sentiment: negative
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1472494/000110465925053373/0001104659-25-053373-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1472494/000110465925053373/tm2514809d6_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-053373
- JSON: https://secwatch.observer/filing/0001104659-25-053373.json
- Plain text: https://secwatch.observer/filing/0001104659-25-053373.txt

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