XML 39 R3.htm IDEA: XBRL DOCUMENT
v2.4.0.6

Schedule of Investments (USD $) | Dec. 31, 2012 | Dec. 31, 2011
--- | --- | ---
Unrealized Gain (Loss) on Open Commodity Contracts | $ 1,556,910 | $ 4,002,120
Open Cleared Swap and Futures Contracts | Open Futures Contracts, Long | United States |  |
Number of Contracts | 1,068 | 1,716
Unrealized Gain (Loss) on Open Commodity Contracts | 1,556,910 | 4,002,120
% of Partners' Capital | 1.56% | 2.36%
Open Cleared Swap and Futures Contracts | Open Futures Contracts, Long | United States | NYMEX Crude Oil Futures CL February 2013 contracts, expiring January 2013 |  |
Number of Contracts | 89 |
Unrealized Gain (Loss) on Open Commodity Contracts | 31,290 |
% of Partners' Capital | 0.03% |
Open Cleared Swap and Futures Contracts | Open Futures Contracts, Long | United States | NYMEX Crude Oil Futures CL March 2013 contracts, expiring February 2013 |  |
Number of Contracts | 89 |
Unrealized Gain (Loss) on Open Commodity Contracts | 51,770 |
% of Partners' Capital | 0.05% |
Open Cleared Swap and Futures Contracts | Open Futures Contracts, Long | United States | NYMEX Crude Oil Futures CL April 2013 contracts, expiring March 2013 |  |
Number of Contracts | 89 |
Unrealized Gain (Loss) on Open Commodity Contracts | 21,590 |
% of Partners' Capital | 0.02% |
Open Cleared Swap and Futures Contracts | Open Futures Contracts, Long | United States | Nymex Crude Oil Futures CL May 2013 Contracts Expiring April 2013 |  |
Number of Contracts | 89 |
Unrealized Gain (Loss) on Open Commodity Contracts | 91,950 |
% of Partners' Capital | 0.09% |
Open Cleared Swap and Futures Contracts | Open Futures Contracts, Long | United States | Nymex Crude Oil Futures CL June 2013 Contracts Expiring May 2013 |  |
Number of Contracts | 89 |
Unrealized Gain (Loss) on Open Commodity Contracts | 182,510 |
% of Partners' Capital | 0.19% |
Open Cleared Swap and Futures Contracts | Open Futures Contracts, Long | United States | Nymex Crude Oil Futures CL July 2013 Contracts Expiring June 2013 |  |
Number of Contracts | 89 |
Unrealized Gain (Loss) on Open Commodity Contracts | 377,930 |
% of Partners' Capital | 0.38% |
Open Cleared Swap and Futures Contracts | Open Futures Contracts, Long | United States | Nymex Crude Oil Futures CL August 2013 Contracts Expiring July 2013 |  |
Number of Contracts | 89 |
Unrealized Gain (Loss) on Open Commodity Contracts | 334,910 |
% of Partners' Capital | 0.34% |
Open Cleared Swap and Futures Contracts | Open Futures Contracts, Long | United States | Nymex Crude Oil Futures CL September 2013 Contracts Expiring August 2013 |  |
Number of Contracts | 89 |
Unrealized Gain (Loss) on Open Commodity Contracts | (88,080) |
% of Partners' Capital | (0.09%) |
Open Cleared Swap and Futures Contracts | Open Futures Contracts, Long | United States | Nymex Crude Oil Futures CL October 2013 Contracts Expiring September 2013 |  |
Number of Contracts | 89 |
Unrealized Gain (Loss) on Open Commodity Contracts | (171,350) |
% of Partners' Capital | (0.17%) |
Open Cleared Swap and Futures Contracts | Open Futures Contracts, Long | United States | Nymex Crude Oil Futures CL November 2013 Contracts Expiring October 2013 |  |
Number of Contracts | 89 |
Unrealized Gain (Loss) on Open Commodity Contracts | 181,690 |
% of Partners' Capital | 0.18% |
Open Cleared Swap and Futures Contracts | Open Futures Contracts, Long | United States | Nymex Crude Oil Futures CL December 2013 Contracts Expiring November 2013 |  |
Number of Contracts | 89 |
Unrealized Gain (Loss) on Open Commodity Contracts | 380,660 |
% of Partners' Capital | 0.38% |
Open Cleared Swap and Futures Contracts | Open Futures Contracts, Long | United States | Nymex Crude Oil Futures CL January 2014 Contracts Expiring December 2013 |  |
Number of Contracts | 89 |
Unrealized Gain (Loss) on Open Commodity Contracts | 162,040 |
% of Partners' Capital | 0.16% |
Open Cleared Swap and Futures Contracts | Open Futures Contracts, Long | United States | NYMEX Crude Oil Futures CL February 2012 contracts, expiring January 2012 |  |
Number of Contracts |  | 143
Unrealized Gain (Loss) on Open Commodity Contracts |  | 260,330
% of Partners' Capital |  | 0.15%
Open Cleared Swap and Futures Contracts | Open Futures Contracts, Long | United States | NYMEX Crude Oil Futures CL March 2012 contracts, expiring February 2012 |  |
Number of Contracts |  | 143
Unrealized Gain (Loss) on Open Commodity Contracts |  | 16,290
% of Partners' Capital |  | 0.01%
Open Cleared Swap and Futures Contracts | Open Futures Contracts, Long | United States | NYMEX Crude Oil Futures CL April 2012 contracts, expiring March 2012 |  |
Number of Contracts |  | 143
Unrealized Gain (Loss) on Open Commodity Contracts |  | (640,870)
% of Partners' Capital |  | (0.38%)
Open Cleared Swap and Futures Contracts | Open Futures Contracts, Long | United States | NYMEX Crude Oil Futures CL May 2012 contracts, expiring April 2012 |  |
Number of Contracts |  | 143
Unrealized Gain (Loss) on Open Commodity Contracts |  | (1,031,540)
% of Partners' Capital |  | (0.61%)
Open Cleared Swap and Futures Contracts | Open Futures Contracts, Long | United States | NYMEX Crude Oil Futures CL June 2012 contracts, expiring May 2012 |  |
Number of Contracts |  | 143
Unrealized Gain (Loss) on Open Commodity Contracts |  | 355,110
% of Partners' Capital |  | 0.21%
Open Cleared Swap and Futures Contracts | Open Futures Contracts, Long | United States | NYMEX Crude Oil Futures CL July 2012 contracts, expiring June 2012 |  |
Number of Contracts |  | 143
Unrealized Gain (Loss) on Open Commodity Contracts |  | (273,840)
% of Partners' Capital |  | (0.16%)
Open Cleared Swap and Futures Contracts | Open Futures Contracts, Long | United States | NYMEX Crude Oil Futures CL August 2012 contracts, expiring July 2012 |  |
Number of Contracts |  | 143
Unrealized Gain (Loss) on Open Commodity Contracts |  | (75,810)
% of Partners' Capital |  | (0.04%)
Open Cleared Swap and Futures Contracts | Open Futures Contracts, Long | United States | NYMEX Crude Oil Futures CL September 2012 contracts, expiring August 2012 |  |
Number of Contracts |  | 143
Unrealized Gain (Loss) on Open Commodity Contracts |  | 1,680,120
% of Partners' Capital |  | 0.99%
Open Cleared Swap and Futures Contracts | Open Futures Contracts, Long | United States | NYMEX Crude Oil Futures CL October 2012 contracts, expiring September 2012 |  |
Number of Contracts |  | 143
Unrealized Gain (Loss) on Open Commodity Contracts |  | 1,338,520
% of Partners' Capital |  | 0.79%
Open Cleared Swap and Futures Contracts | Open Futures Contracts, Long | United States | NYMEX Crude Oil Futures CL November 2012 contracts, expiring October 2012 |  |
Number of Contracts |  | 143
Unrealized Gain (Loss) on Open Commodity Contracts |  | 1,913,700
% of Partners' Capital |  | 1.13%
Open Cleared Swap and Futures Contracts | Open Futures Contracts, Long | United States | NYMEX Crude Oil Futures CL December 2012 contracts, expiring November 2012 |  |
Number of Contracts |  | 143
Unrealized Gain (Loss) on Open Commodity Contracts |  | 692,460
% of Partners' Capital |  | 0.41%
Open Cleared Swap and Futures Contracts | Open Futures Contracts, Long | United States | NYMEX Crude Oil Futures CL January 2013 contracts, expiring December 2012 |  |
Number of Contracts |  | 143
Unrealized Gain (Loss) on Open Commodity Contracts |  | (232,350)
% of Partners' Capital |  | (0.14%)
Cash Equivalents |  |
Market Value | 92,755,785 | 120,576,360
% of Partners' Capital | 93.20% | 71.14%
Cash Equivalents | United States | US Treasury Securities | U.S. Treasury Bill |  |
Principal Amount | 6,600,000 | 13,450,000
Market Value | 6,599,721 | 13,448,072
% of Partners' Capital | 6.63% | 7.93%
Cash Equivalents | United States | Money Market Funds |  |
Market Value | 86,156,064 | 107,128,288
% of Partners' Capital | 86.57% | 63.21%
Cash Equivalents | United States | Money Market Funds | Fidelity Institutional Government Portfolio, Class I |  |
Principal Amount | 4,161,900 | 40,159,317
Market Value | 4,161,900 | 40,159,317
% of Partners' Capital | 4.18% | 23.69%
Cash Equivalents | United States | Money Market Funds | Goldman Sachs Financial Square Funds Government Fund, Class FS |  |
Principal Amount | 26,455,359 |
Market Value | 26,455,359 |
% of Partners' Capital | 26.58% |
Cash Equivalents | United States | Money Market Funds | Morgan Stanley Institutional Liquidity Fund, Government Portfolio |  |
Principal Amount | 30,537,560 | 60,517,522
Market Value | 30,537,560 | 60,517,522
% of Partners' Capital | 30.69% | 35.71%
Cash Equivalents | United States | Money Market Funds | Wells Fargo Advantage Government Money Market Fund Class I |  |
Principal Amount | 25,001,245 |
Market Value | 25,001,245 |
% of Partners' Capital | 25.12% |
Cash Equivalents | United States | Money Market Funds | Goldman Sachs Financial Square Funds, Government Fund, Class SL |  |
Principal Amount |  | 6,451,449
Market Value |  | $ 6,451,449
% of Partners' Capital |  | 3.81%

X
- Definition Balance held at close of period in number of contracts. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -Section S99 -Paragraph 6 -Subparagraph (SX 210.12-14.Column B) -URI http://asc.fasb.org/extlink&oid=6955306&loc=d3e611322-123010 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -Section S99 -Paragraph 1 -Subparagraph (SX 210.12-12.Column B) -URI http://asc.fasb.org/extlink&oid=6955306&loc=d3e611133-123010 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 12C -Paragraph Column B -Article 12 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -Section S99 -Paragraph 4 -Subparagraph (SX 210.12-12C.Column B) -URI http://asc.fasb.org/extlink&oid=6955306&loc=d3e611225-123010 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 12 -Paragraph Column B -Article 12 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 14 -Paragraph Column B -Article 12 + Details
Name: | us-gaap_InvestmentOwnedBalanceContracts
Namespace Prefix: | us-gaap_
Data Type: | xbrli:decimalItemType
Balance Type: | na
Period Type: | instant

X
- Definition For investments which are quantified by principal amount, the principle balance held at close of period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -Section S99 -Paragraph 6 -Subparagraph (SX 210.12-14.Column B) -URI http://asc.fasb.org/extlink&oid=6955306&loc=d3e611322-123010 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -Section S99 -Paragraph 1 -Subparagraph (SX 210.12-12.Column B) -URI http://asc.fasb.org/extlink&oid=6955306&loc=d3e611133-123010 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 12C -Paragraph Column B -Article 12 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -Section S99 -Paragraph 4 -Subparagraph (SX 210.12-12C.Column B) -URI http://asc.fasb.org/extlink&oid=6955306&loc=d3e611225-123010 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 12 -Paragraph Column B -Article 12 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 14 -Paragraph Column B -Article 12 + Details
Name: | us-gaap_InvestmentOwnedBalancePrincipalAmount
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition This element represents the fair value of the face or notional amount of a contract right or obligation that meets the definition of an asset or liability reported in the financial statements of the entity. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 133 -Paragraph 3 -Subparagraph a -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Underlying -URI http://asc.fasb.org/extlink&oid=6527499 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 10 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6431724&loc=d3e32938-113948 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 20 -Section 10 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6438156&loc=d3e57880-113973 + Details
Name: | us-gaap_InvestmentOwnedUnderlyingFaceAmountAtMarketValue
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Definition Percentage of Partners Capital + References No definition available. + Details
Name: | usl_PercentageOfPartnersCapital
Namespace Prefix: | usl_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Unrealized gain (loss) on open commodity futures contracts. + References No definition available. + Details
Name: | usl_UnrealizedGainLossOnOpenCommodityFuturesContracts
Namespace Prefix: | usl_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant