United States 12 Month Oil Fund (USL) Common Equity (2010 - 2026)
United States 12 Month Oil Fund's (USL) quarterly Common Equity came in at $40.6 million in Q2 2026, down 3.92% on a YoY basis from $42.2 million in Q2 2025, and down 32.08% quarter-over-quarter from $59.7 million in Q1 2026.
Analysis
United States 12 Month Oil Fund (USL) Common Equity (2010 - 2026) Analysis & Trends
United States 12 Month Oil Fund (USL) has reported Common Equity for 17 consecutive years, with $40.6 million the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Common Equity fell 3.92% year-over-year to $40.6 million; the trailing twelve-month figure through Jun 2026 stood at $40.6 million (down 3.92% YoY), and the FY2025 full-year result was $36.6 million, down 25.85% from the prior year.
- Common Equity retreated to $40.6 million in Q2 2026 per USL's latest filing, from $59.7 million in the prior quarter.
- Across five years, Common Equity topped out at $142.4 million in Q1 2022 and bottomed at $36.6 million in Q4 2025.
- Historically, Common Equity has averaged $69.9 million across 5 years, with a median of $64.4 million in 2024.
- The sharpest annual moves came in 2023 and 2026: Common Equity plunged 45.99% in 2023, then increased 25.06% in 2026.
- Over 5 years, Common Equity stood at $83.3 million in 2022, then fell by 19.65% to $66.9 million in 2023, then declined by 26.17% to $49.4 million in 2024, then declined by 25.85% to $36.6 million in 2025, then advanced by 10.72% to $40.6 million in 2026.
- According to Business Quant data, Common Equity over the past three periods registered $40.6 million, $59.7 million, and $36.6 million for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Common Equity (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 169.89 Bn | 156.02 Bn | - | 57.84 Bn |
| 2 | Spdr Gold Trust | 144.81 Bn | -413.20 Bn | - | 130.05 Bn |
| 3 | Ishares Gold Trust | 30.30 Bn | -29.81 Bn | - | 60.09 Bn |
| 4 | World Gold Trust | 29.28 Bn | -73.79 Bn | - | 27.26 Bn |
| 5 | Principal Financial | 24.84 Bn | -28.13 Bn | 1.91 Bn | 12.18 Bn |
| 6 | iShares Silver Trust | 22.15 Bn | -6.05 Bn | - | 28.19 Bn |
| 7 | Franklin Resources | 17.84 Bn | 14.12 Bn | - | 12.92 Bn |
| 8 | Invesco | 14.63 Bn | 13.72 Bn | 1.79 Bn | 13.11 Bn |
| 9 | Affiliated Managers | 9.51 Bn | 9.10 Bn | - | 8.31 Bn |
| 10 | United States 12 Month Oil Fund | 58.33 Mn | 23.57 Mn | - | 40.57 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 40.57 Mn |
| Mar 31, 2026 | 59.74 Mn |
| Dec 31, 2025 | 36.64 Mn |
| Sep 30, 2025 | 40.83 Mn |
| Jun 30, 2025 | 42.23 Mn |
| Mar 31, 2025 | 47.77 Mn |
| Dec 31, 2024 | 49.42 Mn |
| Sep 30, 2024 | 53.87 Mn |
| Jun 30, 2024 | 64.87 Mn |
| Mar 31, 2024 | 63.99 Mn |
| Dec 31, 2023 | 66.94 Mn |
| Sep 30, 2023 | 76.11 Mn |
| Jun 30, 2023 | 73.56 Mn |
| Mar 31, 2023 | 82.74 Mn |
| Dec 31, 2022 | 83.31 Mn |
| Sep 30, 2022 | 97.35 Mn |
| Jun 30, 2022 | 136.21 Mn |
| Mar 31, 2022 | 142.43 Mn |
| Dec 31, 2021 | 137.66 Mn |
| Sep 30, 2021 | 147.71 Mn |