Key Highlights

  • The fund reported net income of $10,592,058 for August 2026 on total income of $10,707,367.
  • An unrealized gain on futures of $7,871,077 was the largest component, followed by a realized gain of $2,431,384.
  • Ending net asset value was $146,956,981, or $127.79 per share, with 1,150,000 shares outstanding at August 31, 2026.
  • The fund issued 150,000 shares and redeemed 200,000, so the share count fell even as net assets rose.

United States Gasoline Fund, LP (NYSE:UGA), which trades on NYSE Arca under the symbol UGA, filed a Form 8-K attaching its monthly account statement for the month ended August 31, 2026 as Exhibit 99.1. The statement shows net income of $10,592,058 for August and ending net asset value of $146,956,981, equal to $127.79 per share, with 1,150,000 shares outstanding.

The fund's general partner is United States Commodity Funds LLC, and the certification is signed by Stuart P. Crumbaugh, its Chief Financial Officer.

The Income Statement

Total income for the month was $10,707,367. The largest piece was an unrealized gain on the market value of commodity futures of $7,871,077, followed by a realized trading gain on commodity futures of $2,431,384. The fund also recorded dividend income of $285,976, interest income of $117,180 and ETF transaction fees of $1,750. Dividend and interest income together came to $403,156, though the exhibit does not itemize where those amounts originated.

Total expenses were $115,309. They consisted of general partner management fees of $70,486, professional fees of $33,931, brokerage commissions of $6,955, directors' fees and insurance of $2,174, and license fees of $1,763. Management fees were the largest expense line, at about 61% of the total. Total income less those expenses gives the reported net income of $10,592,058.

Unrealized gains reflect changes in the value of futures positions that were still open at the end of the month, while realized gains come from positions that were closed or expired. In August, unrealized gains were more than three times the size of realized gains.

Creations, Redemptions and Net Assets

The fund began August with net assets of $141,027,806. During the month it issued 150,000 shares for $18,080,338 and redeemed 200,000 shares for $22,743,221, a net reduction of 50,000 shares. Adding the $10,592,058 of net income to those flows results in the ending net asset value of $146,956,981.

Because redemptions exceeded creations, the fund's share count fell over the month, but its net assets still rose, since net income was larger than the net cash that left the fund through redemptions. The net asset value per share of $127.79 is the ending net assets divided by the 1,150,000 shares outstanding. It is a calculated figure, and the exhibit does not report the fund's exchange trading price.

What the Statement Covers

The fund is a commodity pool that holds futures contracts on gasoline, and its operator is subject to Commodity Futures Trading Commission rules on reporting to participants. The exhibit carries a certification, made under Rule 4.22(h) of the Commodity Exchange Act, that to the best of the signer's knowledge and belief the information in the account statement for the month ended August 31, 2026 is accurate and complete. The general partner's address is listed as 1850 Mt. Diablo Boulevard, Suite 640, Walnut Creek, California.

The statement is a summary. It shows income, expenses and the changes in net assets, but it does not describe the futures contracts the fund held, explain the reasons for the month's trading results, or comment on the gasoline market.

Gasoline Fund Creations and Redemptions to Watch in September

The fund furnishes these statements on a monthly basis, so the next in the series would be the account statement for September 2026, showing how net assets, share count and net asset value per share changed after August 31. Investors seeking a fuller picture, including the fund's holdings, its investment objective and the risks of futures-based products, can consult its quarterly report on Form 10-Q, its annual report on Form 10-K and its prospectus.