Derivative Instruments (Tables)

3 Months Ended

Mar. 31, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair Value of Derivative Instruments and Effect of Derivative Instruments on Statements of Income and Expenses

The Fair Value of Derivative Instruments is as follows:


	March 31, 2025				December 31, 2024
Risk Exposure/Derivative Type (a)	Assets		Liabilities		Assets		Liabilities
Commodity risk
Commodity Futures Contracts	$	19,811,845	$	—	$	—	$	(5,858,893	)

(a)

Includes cumulative appreciation (depreciation) of commodity futures contracts. Only the current day’s variation margin receivable (payable) is reported in the Statements of Financial Condition, if any.

The Effect of Derivative Instruments on the Statements of Income and Expenses is as follows:


		For the Three Months Ended
	Location of Gain (Loss) on Derivatives	March 31,
Risk Exposure/Derivative Type	Recognized in Income	2025		2024
Commodity risk
Commodity Futures Contracts	Net Realized Gain (Loss)	$	291,882	$	(153,941	)
	Net Change in Unrealized Gain (Loss)		25,670,738		7,725,986
Total		$	25,962,620	$	7,572,045

Summary of Average Monthly Notional Value of Future Contracts Held

The table below summarizes the average monthly notional value of futures contracts held during the period:


	For the Three Months Ended
	March 31,
	2025		2024
Average Notional Value	$	171,462,964	$	141,112,281