secwatch.observer — SEC 8-K summary
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Issuer:     United States 12 Month Oil Fund, LP (USL)
CIK:        0001405528
Form:       8-K
Filed at:   2025-03-24T23:59:59+00:00
Accession:  0001171200-25-000104
Event type: other_material
Sentiment:  neutral
Materiality: 0.30
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

USL's GP files audited FY2024 financials; equity down 15% to $5.28M
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- Total assets of GP $7.13M at Dec 31, 2024, down from $8.69M in 2023.
- Cash and investments $2.27M in money market, no short-term T-bills in 2024.
- Member's equity $5.28M vs $6.22M, a decline of about 15%.
- Management fees receivable $1.23M, concentrated in USO (36%) and UNG (34%).
- Legal contingency: Optimum Strategies lawsuit ongoing; no estimated loss range disclosed.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1405528/000117120025000104/0001171200-25-000104-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1405528/000117120025000104/i25113_usl-8k.htm
  HTML page:      https://secwatch.observer/filing/0001171200-25-000104

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