---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-102915"
form_type: "8-K"
ticker: "USL"
cik: "0001405528"
company_name: "United States 12 Month Oil Fund, LP"
filed_at: "2025-10-28T23:59:59+00:00"
generated_at: "2026-05-17T01:54:29.596741+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.45
calibrated_materiality_score: 0.45
confidence: "high"
source: SEC EDGAR
---

# USL reports net loss of $664,853 for September 2025; NAV falls to $35.50

## Summary
- Net income (loss) of ($664,853) for September 2025, driven by $471,300 unrealized and $296,780 realized trading losses.
- Net Asset Value declined to $40.8M from $43.3M; NAV per share $35.50 on 1,150,000 shares.
- Withdrawals of 50,000 shares during month amounted to $1.78M.
- Total expenses of $40,071, including management fees of $21,105.

## SEC filing metadata
- accession: 0001104659-25-102915
- form_type: 8-K
- ticker: USL
- cik: 0001405528
- company_name: United States 12 Month Oil Fund, LP
- filed_at: 2025-10-28T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.45
- calibrated_materiality_score: 0.45
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1405528/000110465925102915/0001104659-25-102915-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1405528/000110465925102915/tm2525705d3_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-102915
- JSON: https://secwatch.observer/filing/0001104659-25-102915.json
- Plain text: https://secwatch.observer/filing/0001104659-25-102915.txt

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