UNL on NYSE

United States 12 Month Natural Gas Fund, LP

American commodity contracts brokers and dealers company based in Walnut Creek. Summary from the record

Price unavailable

Last updated Oct 19, 2026.

Overview

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  • TickerUNL on NYSE2
  • IndustryCommodity Contracts Brokers & Dealers2
  • HeadquartersWalnut Creek, United States2
  • Business address1850 Mt. Diablo Blvd., Suite 640, Walnut Creek, Ca 945963
  • Filer categoryNon-accelerated filer, Smaller reporting company3
  • Legal formFUND2
  • Kind of organizationFund2
  • LEI5493006JACLUZC5DH3682
  • StatusActive2
  • LEI statusIssued and current2
  • Registered addressC/O CORPORATION SERVICE COMPANY, 19808 Wilmington, United States2
  • Registered withSecurities and Exchange Commission, 00014055132

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The United States 12 Month Natural Gas Fund, LP (“UNL”) is a Delaware limited partnership organized on June 27, 2007. UNL maintains its main business office at 1850 Mt. Diablo Boulevard, Suite 640, Walnut Creek, California 94596. UNL’s shares began trading on November 18, 2009. UNL is a commodity pool that issues limited partnership interests (“shares”) traded on the NYSE Arca, Inc. (the “NYSE Arca”). It operates pursuant to the terms of the Third Amended and Restated Agreement of Limited Partnership dated as of December 15, 2017 (as amended from time to time, the “LP Agreement”), which grants full management control to its general partner, United States Commodity Funds LLC (“USCF”).4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

132.0%Net margin5
-20.5%Revenue growth, 20255

Where the money goes

Where each dollar of operating cash went, fiscal 2025

  • Kept or used elsewhere100¢$2.0M

Out of $2.0M of cash from operations.5

Financial statements

Revenue67895-$735.9K in 2025−5% since 2019
-$15.0M-$10.0M-$5.0M0$5.0M2019: -$775.3K-$775.3K20192020: -$171.8K-$171.8K2020−78%2021: $3.3M$3.3M20212022: $4.0M$4.0M2022+21%2023: -$13.1M-$13.1M20232024: -$925.4K-$925.4K2024−93%2025: -$735.9K-$735.9K2025−20%
Net income67895-$971.5K in 2025+19% since 2019
-$15.0M-$10.0M-$5.0M0$5.0M2019: -$814.3K-$814.3K20192020: -$214.9K-$214.9K2020−74%2021: $3.2M$3.2M20212022: $3.6M$3.6M2022+15%2023: -$13.3M-$13.3M20232024: -$1.2M-$1.2M2024−91%2025: -$971.5K-$971.5K2025−20%
Fiscal year2019202020212022202320242025
Revenue-$775.3K6-$171.8K7$3.3M8$4.0M9-$13.1M5-$925.4K5-$735.9K5
Operating expenses$231.7K8$483.1K9$325.4K5$375.1K5$235.6K5
Net income-$814.3K6-$214.9K7$3.2M8$3.6M9-$13.3M5-$1.2M5-$971.5K5

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Leadership

Who has led United States 12 Month Natural Gas Fund, LP, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Nicholas Daniel Gerber2009
  2. John P. Love2015

Chair

  1. Nicholas Daniel Gerber2009

President

  1. Nicholas Daniel Gerber2009
  2. John P. Love2015

Chief financial officer

  1. Howard Mah2009
  2. Stuart P. Crumbaugh2015
2010201520202025
Board members and other officers (10)

Timeline

  1. Jul 24, 2015New chief executive John P. Love becomes CEO15
  2. Nov 13, 2009New chief executive Nicholas Daniel Gerber becomes CEO16
  3. Jun 27, 2007Founded United States 12 Month Natural Gas Fund, LP is founded2

Filings

133 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 76 major events, 1 insider forms, 1 large holders, 35 other. The latest 20:

  1. Sep 29, 20268-K EDGAR
  2. Sep 25, 20268-K EDGAR
  3. Aug 28, 20268-K EDGAR
  4. Aug 7, 202610-Q EDGAR
  5. Jul 29, 20268-K EDGAR
  6. Jun 29, 20268-K EDGAR
  7. May 28, 20268-K EDGAR
  8. May 14, 2026POS EX EDGAR
  9. May 8, 202610-Q EDGAR
  10. Apr 29, 20268-K EDGAR
  11. Apr 24, 2026424B3 EDGAR
  12. Mar 31, 2026424I EDGAR
  13. Mar 27, 20268-K EDGAR
  14. Mar 27, 20268-K EDGAR
  15. Mar 20, 20268-K EDGAR
  16. Mar 4, 202610-K EDGAR
  17. Feb 27, 20268-K EDGAR
  18. Jan 29, 20268-K EDGAR
  19. Dec 29, 20258-K EDGAR
  20. Dec 1, 20258-K EDGAR

The 133 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Susquehanna International Group, Llp110,684$707.3K0.0%New
Jane Street Group, LLC53,810$343.8K0.0%+32,555
StoneX Group Inc.23,165$149.9K0.0%New
Barclays PLC6,360$40.6K0.0%No change
Simplex Trading, LLC1,911$12.2K0.0%New
Ameritas Advisory Services, LLC1,820$11.6K0.0%New
Vermillion Wealth Management, Inc.889$5.7K0.0%No change
PNC Financial Services Group, Inc.720$4.6K0.0%No change
Osaic Holdings, Inc.635$4.1K0.0%No change
Markowski Investments500$3.2K0.0%New
Continuum Advisory, LLC462$3.0K0.0%New
Morgan Stanley230$1.5K0.0%+228
Farther Finance Advisors, LLC50$3200.0%New
Western Pacific Wealth Management, LP40$2560.0%No change
Flow Traders U.s. LLC22,230$1420.0%+6,834

13F reports cover disclosed long positions in U.S. stocks only.

Sources

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