XML 47 R5.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Statements of Operations (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Gain (loss) on trading of commodity contracts:        
Realized gain (loss) on closed positions $ 90,420 $ (2,997,830) $ (7,660) $ (1,556,990)
Change in unrealized gain (loss) on open positions 1,946,700 115,030 1,670,430 (547,240)
Dividend income 462 1,747 499 4,006
Interest income 2,240 1,511 3,991 2,506
Other income 3,500 1,050 6,650 5,950
Total income (loss) 2,043,322 (2,878,492) 1,673,910 (2,091,768)
Expenses        
General Partner management fees (Note 3) 74,335 82,571 124,030 162,862
Professional fees 41,132 31,122 81,812 62,004
Brokerage commissions 6,641 7,888 10,750 16,290
Other expenses 2,486 2,370 4,421 4,654
Total expenses 124,594 123,951 221,013 245,810
Expense waiver (Note 3) (26,964) (14,651) (57,705) (29,519)
Net expenses 97,630 109,300 163,308 216,291
Net income (loss) $ 1,945,692 $ (2,987,792) $ 1,510,602 $ (2,308,059)
Net income (loss) per limited partnership share $ 2.29 $ (2.75) [1] $ 1.54 $ (2.09) [1]
Net income (loss) per weighted average limited partnership share $ 2.16 $ (2.72) [1] $ 1.98 $ (2.14) [1]
Weighted average limited partnership shares outstanding 900,000 1,100,000 [1] 764,088 1,079,006 [1]
[1] On August 26, 2013, the United States Brent Oil Fund, LP executed a 2-for-1 forward share split for all shareholders of record as of the close of markets on August 26, 2013. The 2-for-1 forward share split was payable after the close of markets on August 28, 2013. United States Brent Oil Fund, LP began trading its post-share split price on August 29, 2013. The Condensed Statements of Operations (Unaudited) have been adjusted for the period shown to reflect the 2-for-1 forward share split on a retroactive basis.