{"schema_version":"secwatch.filing_event.v1","accession":"0002071876-26-000070","form_type":"8-K","ticker":"USL","cik":"0001405528","company_name":"United States 12 Month Oil Fund, LP","filed_at":"2026-03-27T23:59:59+00:00","discovered_at":"2026-05-14T18:02:35.003452+00:00","generated_at":"2026-05-15T08:35:39.039515+00:00","sec_items":["7.01","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"United States 12 Month Oil Fund reports $5.8M net loss for 2025; NAV falls 12.4%","bullets":["Net loss of $5.76M in 2025 vs net income of $5.06M in 2024; diluted loss per share $4.81.","Total partners' capital fell to $36.6M (Dec 31, 2024: $49.4M); NAV per share $33.31 (from $38.01).","Realized loss on futures $4.5M; unrealized loss $2.55M; total trading loss $7.0M.","Shares outstanding decreased from 1.3M to 1.1M due to redemptions of 300,000 shares.","Cash and equivalents $39.7M at year-end, down from $49.9M in 2024."],"urls":{"canonical":"https://secwatch.observer/filing/0002071876-26-000070","json":"https://secwatch.observer/filing/0002071876-26-000070.json","markdown":"https://secwatch.observer/filing/0002071876-26-000070.md","text":"https://secwatch.observer/filing/0002071876-26-000070.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1405528/000207187626000070/0002071876-26-000070-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1405528/000207187626000070/i26132_usl-8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-15T08:35:39.039515+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}