USCF (GP of USL) audited FY2023 balance sheet: assets drop 34%, equity down 40%

United States 12 Month Oil Fund, LP

Total assets $8.7M at Dec 31, 2023, down from $13.3M in 2022 (34% decrease).
Cash declined to $2.6M from $8.2M; investments increased to $3.8M from $2.5M.
Member's equity fell to $6.2M from $10.4M (40% decrease).
Optimum Strategies lawsuit dismissed with prejudice on federal claims; state claim dismissed without prejudice.
Auditor identifies loss contingencies as critical audit matter; note mentions SEC/CFTC investigations (details truncated).

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