<SEC-DOCUMENT>0001171200-23-000486.txt : 20231204
<SEC-HEADER>0001171200-23-000486.hdr.sgml : 20231204
<ACCEPTANCE-DATETIME>20231204170315
ACCESSION NUMBER:		0001171200-23-000486
CONFORMED SUBMISSION TYPE:	424B3
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20231204
DATE AS OF CHANGE:		20231204

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			United States 12 Month Natural Gas Fund, LP
		CENTRAL INDEX KEY:			0001405513
		STANDARD INDUSTRIAL CLASSIFICATION:	 [6221]
		IRS NUMBER:				260431733
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B3
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-263572
		FILM NUMBER:		231464141

	BUSINESS ADDRESS:	
		STREET 1:		1850 MT. DIABLO BLVD.
		STREET 2:		SUITE 640
		CITY:			WALNUT CREEK
		STATE:			CA
		ZIP:			94596
		BUSINESS PHONE:		(510) 522-9600

	MAIL ADDRESS:	
		STREET 1:		1850 MT. DIABLO BLVD.
		STREET 2:		SUITE 640
		CITY:			WALNUT CREEK
		STATE:			CA
		ZIP:			94596
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<TYPE>424B3
<SEQUENCE>1
<FILENAME>i23485_unl-424b3.htm
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<P STYLE="text-align: right; margin: 0; font: 10pt Times New Roman, Times, Serif"><B>Filed pursuant to Rule 424(b)(3)<BR>
File No. 333-263572</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0pt solid"><FONT STYLE="font-size: 16pt"><B>UNITED
STATES 12 MONTH NATURAL GAS FUND, LP</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">Supplement dated
December 4, 2023</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">to</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0pt solid"><FONT STYLE="font-size: 10pt">Prospectus
dated April 26, 2023</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">This supplement contains information that amends, supplements or modifies certain information contained in the prospectus of United States
12 Month Natural Gas Fund, LP (&ldquo;UNL&rdquo;) dated April 26, 2023 (the &ldquo;Prospectus&rdquo;).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">You should carefully
read the Prospectus and this supplement before investing. This supplement should be read in conjunction with the Prospectus. <I>You should
also carefully consider the &ldquo;Risk Factors&rdquo; beginning on page 8 of the Prospectus before you decide to invest.</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt">*****</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">On November 14, 2023, UNL engaged Cohen &amp; Company, Ltd., replacing Spicer Jeffries LLP, as its independent registered public accounting
firm for the fiscal year ending December 31, 2023.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">In light of
the foregoing, the Prospectus in hereby revised as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>The section of the Prospectus entitled &ldquo;Legal Matters&rdquo; is revised by deleting the subsection entitled &ldquo;Experts&rdquo; on
page 52 and replacing it with the following:</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B><I>Experts</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">Spicer
Jeffries LLP, an independent registered public accounting firm, has audited the statements of financial condition of UNL as of December
31, 2022 and December 31, 2021, including the schedule of investments as of December 31, 2022 and December 31, 2021, and the related statements
of operations, changes in partners&rsquo; capital and cash flows for the years ended December 31, 2022, 2021, and 2020, that appear in
the annual report on Form 10-K that is incorporated by reference. The financial statements of UNL in the Form 10-K were included therein
in reliance upon the report of Spicer Jeffries LLP dated March 1, 2023, given on its authority of such firm as experts in accounting and
auditing.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">On
November 14, 2023, UNL dismissed Spicer Jeffries LLP as its independent registered public accounting firm for the fiscal year ending December
31, 2023. The Board of Directors of USCF, based on the recommendation of the Audit Committee of USCF, approved the decision to change
independent registered public accounting firms. On the same day, the Board of Directors of USCF, based on the recommendation of the Audit
Committee of USCF, engaged Cohen &amp; Company, Ltd. as UNL&rsquo;s independent registered public accounting firm for the fiscal year
ending December 31, 2023.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>&nbsp;</B></FONT></P>


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