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	$	78,266,659	$	(35,965,066	)	$	27,889,813	$	(48,470,858	)

(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 for non-LME Commodity Futures Contracts, 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)	$	(4,551,411	)	$	(2,570,178	)
	Net Change in Unrealized Gain (Loss)		62,882,638			53,790,691
Total		$	58,331,227		$	51,220,513

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	$	1,328,238,917	$	1,681,690,894