---
schema_version: "secwatch.filing_event.v1"
accession: "0002071876-26-000065"
form_type: "8-K"
ticker: "BNO"
cik: "0001472494"
company_name: "United States Brent Oil Fund, LP"
filed_at: "2026-03-27T23:59:59+00:00"
generated_at: "2026-05-15T08:36:23.109631+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# BNO reports 2025 net loss of $4.1M vs net income of $10.6M in 2024

## Summary
- Net loss per share $1.85 (basic) vs net income of $2.75 in 2024.
- Total realized loss on closed futures contracts of $6.62M; unrealized loss of $0.26M.
- Dividend and interest income declined to $2.45M and $1.44M from $3.55M and $3.69M.
- Net asset value per share fell to $28.29 from $30.14; shares outstanding decreased to 3.55M from 3.8M.
- Partners' capital decreased to $100.4M from $114.5M; total assets down to $100.7M.

## SEC filing metadata
- accession: 0002071876-26-000065
- form_type: 8-K
- ticker: BNO
- cik: 0001472494
- company_name: United States Brent Oil Fund, LP
- filed_at: 2026-03-27T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1472494/000207187626000065/0002071876-26-000065-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1472494/000207187626000065/i26127_bno-8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0002071876-26-000065
- JSON: https://secwatch.observer/filing/0002071876-26-000065.json
- Plain text: https://secwatch.observer/filing/0002071876-26-000065.txt

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