Exhibit 99.1

 

United States 12 Month Natural Gas Fund, LP

Monthly Account Statement

For the Month Ended November 30, 2025

 

Statement of Income (Loss)    
Income     
Realized Trading Gain (Loss) on Commodity Futures  $155,650 
Unrealized Gain (Loss) on Market Value of Commodity Futures   235,939 
Dividend Income   25,728 
Interest Income   29,399 
ETF Transaction Fees   1,050 
Total Income (Loss)  $447,766 
      
Expenses     
General Partner Management Fees  $8,636 
Professional Fees   12,386 
Brokerage Commissions   542 
Directors' Fees and insurance   1,657 
License fees   215 
Total Expenses  $23,436 
Net Income (Loss)  $424,330 
      
      
Statement of Changes in Net Asset Value     
Net Asset Value Beginning of Month 11/1/25  $15,257,922 
Additions (450,000 Shares)   3,753,191 
Net Income (Loss)   424,330 
      
Net Asset Value End of Month  $19,435,443 
Net Asset Value Per Share (2,350,000 Shares)  $8.27 

  

To the Limited Partners of United States 12 Month Natural Gas Fund, LP:

 

Pursuant to Rule 4.22(h) under the Commodity Exchange Act, the undersigned represents that, to the best of his knowledge and belief, the information contained in the Account Statement for the month ended November 30, 2025 is accurate and complete.

 

/s/ Stuart P. Crumbaugh  
Stuart P. Crumbaugh  
Chief Financial Officer  
United States Commodity Funds LLC, General Partner of United States 12 Month Natural Gas Fund, LP

 

United States Commodity Funds LLC

1850 Mt. Diablo Boulevard, Suite 640

Walnut Creek, CA 94596