Natural Gas Fund LP Files Q3 2024 10-Q
Ticker: UNL · Form: 10-Q · Filed: Nov 8, 2024 · CIK: 1405513
Sentiment: neutral
Topics: 10-Q, natural-gas, commodity-fund, filing
Related Tickers: UNG
TL;DR
**NGAS fund Q3 10-Q filed. Shows commodity contract positions for 2024 vs 2023.**
AI Summary
United States 12 Month Natural Gas Fund, LP filed its 10-Q for the period ending September 30, 2024. The filing details the fund's financial position and operations, including its holdings in natural gas commodity contracts. The report covers the nine months ended September 30, 2024, and compares it to the same period in 2023.
Why It Matters
This filing provides insight into the performance and financial health of a fund tracking natural gas futures, which can impact investors and energy market participants.
Risk Assessment
Risk Level: medium — Commodity funds are inherently volatile due to market fluctuations in the underlying asset.
Key Numbers
- 2024-09-30 — Reporting Period End Date (Covers the third quarter of 2024)
- 2023-09-30 — Prior Year Period End Date (For comparison with the current reporting period)
Key Players & Entities
- United States 12 Month Natural Gas Fund, LP (company) — Filer of the 10-Q
- 2024-09-30 (date) — End of the reporting period
- 2024-11-08 (date) — Filing date
- Natural Gas (commodity) — Underlying asset of the fund
FAQ
What is the primary business of United States 12 Month Natural Gas Fund, LP?
The fund is primarily involved with natural gas commodity contracts, as indicated by its name and the filing's reference to 'CommodityContractMember'.
What period does this 10-Q filing cover?
This 10-Q filing covers the period ending September 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on November 8, 2024.
Does the filing compare the current period to a previous period?
Yes, the filing includes data points for the nine months ended September 30, 2024, and implicitly compares it to the same period in 2023, as indicated by date ranges for both years.
What is the fiscal year end for the company?
The fiscal year end for United States 12 Month Natural Gas Fund, LP is December 31.
Filing Stats: 4,628 words · 19 min read · ~15 pages · Grade level 13.2 · Accepted 2024-11-08 12:39:36
Filing Documents
- unl-20240930x10q.htm (10-Q) — 1190KB
- unl-20240930xex31d1.htm (EX-31.1) — 12KB
- unl-20240930xex31d2.htm (EX-31.2) — 9KB
- unl-20240930xex32d1.htm (EX-32.1) — 6KB
- unl-20240930xex32d2.htm (EX-32.2) — 6KB
- unl-20240930x10q009.jpg (GRAPHIC) — 52KB
- unl-20240930x10q010.jpg (GRAPHIC) — 55KB
- unl-20240930x10q011.jpg (GRAPHIC) — 78KB
- unl-20240930x10q012.jpg (GRAPHIC) — 70KB
- 0001410578-24-001822.txt ( ) — 5066KB
- unl-20240930.xsd (EX-101.SCH) — 45KB
- unl-20240930_cal.xml (EX-101.CAL) — 25KB
- unl-20240930_def.xml (EX-101.DEF) — 122KB
- unl-20240930_lab.xml (EX-101.LAB) — 251KB
- unl-20240930_pre.xml (EX-101.PRE) — 203KB
- unl-20240930x10q_htm.xml (XML) — 647KB
FINANCIAL INFORMATION
Part I. FINANCIAL INFORMATION Page Item I. Condensed Financial Statements. 3
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. 20
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk. 38
Controls and Procedures
Item 4. Controls and Procedures. 39
OTHER INFORMATION
Part II. OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings. 40
Risk Factors
Item 1A. Risk Factors. 43
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 43
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities. 43
Mine Safety Disclosures
Item 4. Mine Safety Disclosures. 43
Other Information
Item 5. Other Information. 44
Exhibits
Item 6. Exhibits. 44 2 Table of Contents
FINANCIAL INFORMATION
Part I. FINANCIAL INFORMATION
Condensed Financial Statements
Item 1. Condensed Financial Statements. Index to Condensed Financial Statements Documents Page Condensed Statements of Financial Condition at September 30, 2024 (Unaudited) and December 31, 2023 4 Condensed Schedules of Investments (Unaudited) at September 30, 2024 and December 31, 2023 5 Condensed Statements of Operations (Unaudited) for the three and nine months ended September 30, 2024 and 2023 7 Condensed Statements of Changes in Partners' Capital (Unaudited) for the three and nine months ended September 30, 2024 and 2023 8 Condensed Statements of Cash Flows (Unaudited) for the nine months ended September 30, 2024 and 2023 9 Notes to Condensed Financial Statements (Unaudited) for the period ended September 30, 2024 10 3 Table of Contents United States 12 Month Natural Gas Fund, LP Condensed Statements of Financial Condition At September 30, 2024 (Unaudited) and December 31, 2023 September 30, 2024 December 31, 2023 Assets Cash and cash equivalents (at cost $ 18,596,289 and $ 14,477,947 , respectively) (Notes 2 and 5) $ 18,596,289 $ 14,477,947 Equity in trading accounts: Cash and cash equivalents (at cost $ 1,717,390 and $ 6,113,231 , respectively) 1,717,390 6,113,231 Unrealized gain (loss) on open commodity futures contracts ( 175,600 ) ( 4,450,405 ) Receivable from General Partner (Note 3) 80,980 168,223 Dividends receivable 45,548 53,943 Interest receivable 33,512 18,055 Prepaid license fees 4,612 6,623 Prepaid insurance 1,381 2,121 Total Assets $ 20,304,112 $ 16,389,738 Liabilities and Partners' Capital General Partner management fees payable (Note 3) $ 9,800 $ 10,902 Professional fees payable 100,488 79,649 Brokerage commissions payable 391 391 Directors' fees payable 558 2,846 Total Liabilities 111,237 93,788 Commitments and Contingencies (Notes 3, 4 & 5) Partners' Capital General Partners — — Limited Partners 20,192,875 16