---
schema_version: "secwatch.filing_event.v1"
accession: "0001171200-24-000103"
form_type: "8-K"
ticker: "BNO"
cik: "0001472494"
company_name: "United States Brent Oil Fund, LP"
filed_at: "2024-03-27T23:59:59+00:00"
generated_at: "2026-06-04T07:06:03.940272+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# BNO posts $4.1M net loss in 2023, NAV per share down to $27.39

## Summary
- Net loss of $4.09M in 2023 vs net income of $82.57M in 2022; net loss per share $0.87.
- Total income (loss) from operations was -$2.32M vs +$85.22M prior year.
- Net asset value per share fell to $27.39 from $28.26; shares outstanding dropped to 4.75M from 8.2M on net redemptions.
- Unrealized loss on open futures contracts of $1.18M vs gain of $15.25M in 2022.
- Cash equivalents and equity in trading accounts decreased to $130.9M from $219.1M.

## SEC filing metadata
- accession: 0001171200-24-000103
- form_type: 8-K
- ticker: BNO
- cik: 0001472494
- company_name: United States Brent Oil Fund, LP
- filed_at: 2024-03-27T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1472494/000117120024000103/0001171200-24-000103-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1472494/000117120024000103/i24090_bno-8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001171200-24-000103
- JSON: https://secwatch.observer/filing/0001171200-24-000103.json
- Plain text: https://secwatch.observer/filing/0001171200-24-000103.txt

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