Filing Flows › United States 12 Month Oil Fund, LP (USL) › How it makes money
How United States 12 Month Oil Fund, LP (USL) makes money
United States 12 Month Oil Fund, LP (USL) made $17.0M of revenue in the first quarter 2026 (Q1 2026), up 37-fold from a year earlier. Of every dollar of revenue, 99¢ was left as operating profit, 99¢ was left as net earnings.
Drawing the Sankey…
Where each dollar of revenue goes
| Line | Q1 2026 | % of revenue |
|---|---|---|
| Revenue | $17.0M | 100.0% |
| Operating profit | $16.9M | 99.4% |
| Net earnings | $16.9M | 99.4% |
| Operating cash flow | $7.4M | 43.6% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q1 2026 | $17.0M | 37× |
| Q3 2025 | $497K | — |
| Q1 2025 | $460K | -94% |
| Q4 2024 | $3.1M | — |
From United States 12 Month Oil Fund, LP's 10-Q filed May 8, 2026 (on EDGAR).
Questions
How does United States 12 Month Oil Fund, LP make money?
United States 12 Month Oil Fund, LP (USL) made $17.0M of revenue in the first quarter 2026 (Q1 2026), up 37-fold from a year earlier. Of every dollar of revenue, 99¢ was left as operating profit, 99¢ was left as net earnings.
What is United States 12 Month Oil Fund, LP's profit margin?
Net earnings were $16.9M, 99.4% of revenue, in the first quarter 2026; the operating margin was 99.4%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.