---
schema_version: "secwatch.filing_event.v1"
accession: "0001171200-25-000125"
form_type: "8-K"
ticker: "UNL"
cik: "0001405513"
company_name: "United States 12 Month Natural Gas Fund, LP"
filed_at: "2025-03-26T23:59:59+00:00"
generated_at: "2026-05-24T04:50:35.031040+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# UNL reports $1.2M net loss for 2024; NAV per share falls to $8.12

## Summary
- Net loss of $1.22M ($0.46 per share) for 2024, compared to net loss of $13.28M ($8.66 per share) in 2023 and net income of $3.63M in 2022.
- NAV per share declined to $8.12 at Dec 31, 2024 from $8.58 a year earlier; outstanding shares increased to 2.3M from 1.9M.
- Realized loss on closed futures contracts narrowed to $7.41M from $17.94M in 2023; unrealized gain on open contracts was $5.57M vs $3.97M in 2023.
- Net proceeds from share issuances were $21.72M and redemptions $18.12M, resulting in net capital inflow of $3.60M.

## SEC filing metadata
- accession: 0001171200-25-000125
- form_type: 8-K
- ticker: UNL
- cik: 0001405513
- company_name: United States 12 Month Natural Gas Fund, LP
- filed_at: 2025-03-26T23:59:59+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/1405513/000117120025000125/0001171200-25-000125-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1405513/000117120025000125/i25118_unl-8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001171200-25-000125
- JSON: https://secwatch.observer/filing/0001171200-25-000125.json
- Plain text: https://secwatch.observer/filing/0001171200-25-000125.txt

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