secwatch.observer — SEC 8-K summary
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Issuer:     United States 12 Month Natural Gas Fund, LP (UNL)
CIK:        0001405513
Form:       8-K
Filed at:   2026-03-27T23:59:59+00:00
Accession:  0001104659-26-035719
Event type: other_material
Sentiment:  negative
Materiality: 0.40
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

UNL reports $4.2M net loss for February; NAV drops to $6.85/share
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- Net loss of $4,165,253 for February 2026; total income (loss) of $(4,145,268) including unrealized losses of $(3,778,826) on commodity futures.
- Net Asset Value fell from $20.77M to $15.42M during the month; NAV per share at month-end $6.85 (2.25M shares outstanding).
- Realized trading loss of $(409,914); dividend and interest income of $42,422 combined.
- Total expenses $19,985, mainly professional fees ($10,522) and management fees ($7,250).
- Share activity: 150k shares added ($1.03M) and 300k shares withdrawn ($2.21M).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1405513/000110465926035719/0001104659-26-035719-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1405513/000110465926035719/tm268499d5_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-035719

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer