What changed 10-Q

Item 3. Quantitative and Qualitative Disclosures About Market Risk

2026-08-07 compared with 2026-05-08 · 1 added, 1 removed, 33 unchanged (6% of the section changed)

29 unchanged sentences

As a result, it may be difficult to obtain an independent value for an outstanding OTC derivatives transaction.

During the three-month reporting period ended March 31, 2026, USL limited its OTC derivatives activities to EFRP transactions.

During the six-month reporting period ended June 30, 2026, USL limited its OTC derivatives activities to EFRP transactions.

USL anticipates that the use of Other Oil-Related Investments together with its investments in Oil Futures Contracts will produce price and total return results that closely track the investment goals of USL.

2 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.