---
schema_version: "secwatch.filing_event.v1"
accession: "0001171200-25-000127"
form_type: "8-K"
ticker: "USL"
cik: "0001405528"
company_name: "United States 12 Month Oil Fund, LP"
filed_at: "2025-03-26T23:59:59+00:00"
generated_at: "2026-05-24T04:50:43.250849+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# USL reports 2024 net income of $5.1M vs loss in 2023; NAV rises to $38.01

## Summary
- Net income of $5.06M ($2.78 per share) for 2024, compared to net loss of $56,520 ($0.22 per share) in 2023.
- Total partners' capital declined to $49.4M from $66.9M, driven by $22.6M in share redemptions (600,000 shares).
- Net asset value per share increased to $38.01 from $35.23, a 7.9% gain.
- Total income (trading gains, dividends, interest) rose to $5.68M from $0.55M in 2023.
- Realized gains on closed futures contracts of $1.15M vs realized losses of $3.99M in 2023.

## SEC filing metadata
- accession: 0001171200-25-000127
- form_type: 8-K
- ticker: USL
- cik: 0001405528
- company_name: United States 12 Month Oil Fund, LP
- filed_at: 2025-03-26T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1405528/000117120025000127/0001171200-25-000127-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1405528/000117120025000127/i25120_usl-8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001171200-25-000127
- JSON: https://secwatch.observer/filing/0001171200-25-000127.json
- Plain text: https://secwatch.observer/filing/0001171200-25-000127.txt

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