Routine monthly statement with no guidance or material events. Monitor next month's statement for changes in redemption pace or NAV trajectory.
Price Chart
Executive Summary
USL filed its monthly account statement for August 2026, reporting net income of $2.13M on total income of $2.17M. Net asset value per share was $52.34, down from $52.90 at the start of the month, driven by a $2.61M share redemption. This is a routine regulatory filing with no material new information for traders.
Key Facts
- Net income for August 2026 was $2,128,917
- Total income was $2,169,885 (realized trading gain $744,539, unrealized gain $1,293,169, dividend income $101,189, interest income $30,638)
- Total expenses were $40,968 (management fees $22,689, professional fees $16,106, brokerage commissions $464)
- NAV per share at month-end was $52.34 (850,000 shares outstanding)
- NAV decreased from $44,964,555 to $44,487,522 due to $2,605,950 in share redemptions (50,000 shares)
- Filing is a routine monthly account statement required under CFTC Rule 4.22
Financial Impact
No material financial impact; monthly NAV per share declined ~1% from $52.90 to $52.34 due to redemptions.
Risk Factors
- Continued share redemptions could erode AUM and liquidity
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-111779 |
| Document: tm2625422d3_ex99-1.htm | 0001104659-26-111779 |
| Document: 0001104659-26-111779-index-headers.html | 0001104659-26-111779 |
| Document: 0001104659-26-111779-index.html | 0001104659-26-111779 |
| Document: 0001104659-26-111779.txt | 0001104659-26-111779 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 29, 2026 28d ago | 8-K | $56.26 $63.25 | ▲ +12.42% | ▲ +11.70% | $63.24 (+12.42%) |
Sep 25, 2026 4w ago | 8-K | $56.99 $63.47 | ▲ +11.38% | ▲ +11.41% | $63.24 (+10.98%) |
Aug 28, 2026 8w ago | 8-K | $51.26 $56.99 | ▲ +11.17% | ▲ +10.91% | $63.24 (+23.38%) |
Jul 29, 2026 12w ago | 8-K | $50.75 $50.95 | ▲ +0.39% | ▼ −4.63% | $63.24 (+24.63%) |
Jun 29, 2026 17w ago | 8-K | $45.45 $51.78 | ▲ +13.94% | ▲ +14.22% | $63.24 (+39.17%) |
May 28, 2026 21w ago | 8-K | $52.11 $44.93 | ▼ −13.77% | ▼ −10.63% | $63.24 (+21.37%) |
Apr 29, 2026 25w ago | 8-K | $53.84 $51.72 | ▼ −3.94% | ▼ −9.40% | $63.24 (+17.47%) |
US Market Status
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