| Summary of the Tiered Valuation Input Levels |
The following is a summary of the tiered valuation input levels as of March 31, 2025:
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Level 1 |
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Level 2 |
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Level 3 |
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Total |
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Investments in Securities |
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United States Treasury Obligations |
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$ |
— |
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$ |
54,624,971 |
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|
$ |
— |
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|
$ |
54,624,971 |
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Exchange-Traded Fund |
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|
21,518,587 |
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|
21,518,587 |
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Money Market Mutual Fund |
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|
97,413,047 |
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|
|
— |
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— |
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|
97,413,047 |
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Total Investments in Securities |
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|
118,931,634 |
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|
54,624,971 |
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|
|
— |
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|
173,556,605 |
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Other Investments - Assets (a) |
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Commodity Futures Contracts |
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|
19,811,845 |
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|
|
— |
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|
|
— |
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|
|
19,811,845 |
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Total Investments |
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$ |
138,743,479 |
|
|
$ |
54,624,971 |
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|
$ |
— |
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|
$ |
193,368,450 |
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(a)Unrealized appreciation (depreciation). The following is a summary of the tiered valuation input levels as of December 31, 2024:
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Level 1 |
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Level 2 |
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Level 3 |
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Total |
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Investments in Securities |
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|
|
|
|
|
|
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|
|
|
|
United States Treasury Obligations |
|
$ |
— |
|
|
$ |
54,072,308 |
|
|
$ |
— |
|
|
$ |
54,072,308 |
|
Exchange-Traded Fund |
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|
21,531,840 |
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|
|
— |
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|
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— |
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|
|
21,531,840 |
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Money Market Mutual Fund |
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|
78,702,911 |
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|
|
— |
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|
|
— |
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|
78,702,911 |
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Total Investments in Securities |
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|
100,234,751 |
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|
|
54,072,308 |
|
|
|
— |
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|
154,307,059 |
|
Other Investments - Liabilities(a) |
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|
|
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|
|
|
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Commodity Futures Contracts |
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|
(5,858,893 |
) |
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— |
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|
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— |
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|
(5,858,893 |
) |
Total Investments |
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$ |
94,375,858 |
|
|
$ |
54,072,308 |
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$ |
— |
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|
$ |
148,448,166 |
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(a)Unrealized appreciation (depreciation).
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