---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-124476"
form_type: "8-K"
ticker: "UNL"
cik: "0001405513"
company_name: "United States 12 Month Natural Gas Fund, LP"
filed_at: "2025-12-29T23:59:59+00:00"
generated_at: "2026-05-16T12:05:35.496594+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.3
calibrated_materiality_score: 0.3
confidence: "high"
source: SEC EDGAR
---

# UNL reports Nov 2025 monthly NAV of $8.27/share; net income $424K on $447K total income

## Summary
- Net income of $424,330 for month ended Nov 30, 2025; total income $447,766, expenses $23,436.
- NAV per share at month-end was $8.27 on 2.35M shares; total NAV $19.44M.
- Fund added 450,000 shares during month, raising $3.75M in new capital.
- Realized trading gain $155,650; unrealized gain $235,939 from commodity futures.

## SEC filing metadata
- accession: 0001104659-25-124476
- form_type: 8-K
- ticker: UNL
- cik: 0001405513
- company_name: United States 12 Month Natural Gas Fund, LP
- filed_at: 2025-12-29T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.3
- calibrated_materiality_score: 0.3
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1405513/000110465925124476/0001104659-25-124476-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1405513/000110465925124476/tm2533092d5_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-124476
- JSON: https://secwatch.observer/filing/0001104659-25-124476.json
- Plain text: https://secwatch.observer/filing/0001104659-25-124476.txt

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