| 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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$ |
397,272,516 |
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$ |
— |
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$ |
397,272,516 |
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Exchange-Traded Fund |
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215,238,633 |
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— |
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— |
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|
215,238,633 |
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Money Market Mutual Fund |
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584,374,808 |
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— |
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— |
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584,374,808 |
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Total Investments in Securities |
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|
799,613,441 |
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|
397,272,516 |
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— |
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1,196,885,957 |
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Other Investments—Assets(a) |
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Commodity Futures Contracts |
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78,266,659 |
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— |
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— |
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78,266,659 |
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Other Investments—Liabilities(a) |
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Commodity Futures Contracts |
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(35,965,066 |
) |
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— |
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— |
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(35,965,066 |
) |
Total Other Investments |
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42,301,593 |
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— |
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— |
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|
42,301,593 |
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Total Investments |
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$ |
841,915,034 |
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|
$ |
397,272,516 |
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|
$ |
— |
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|
$ |
1,239,187,550 |
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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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United States Treasury Obligations |
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$ |
— |
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$ |
393,253,144 |
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|
$ |
— |
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|
$ |
393,253,144 |
|
Exchange-Traded Fund |
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|
215,371,200 |
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|
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— |
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— |
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215,371,200 |
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Money Market Mutual Fund |
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661,273,167 |
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— |
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— |
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661,273,167 |
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Total Investments in Securities |
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876,644,367 |
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393,253,144 |
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— |
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1,269,897,511 |
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Other Investments—Assets(a) |
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Commodity Futures Contracts |
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27,889,813 |
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— |
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— |
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27,889,813 |
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Other Investments—Liabilities(a) |
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Commodity Futures Contracts |
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(48,470,858 |
) |
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— |
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— |
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(48,470,858 |
) |
Total Other Investments |
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(20,581,045 |
) |
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— |
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— |
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(20,581,045 |
) |
Total Investments |
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$ |
856,063,322 |
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|
$ |
393,253,144 |
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|
$ |
— |
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|
$ |
1,249,316,466 |
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(a)Unrealized appreciation (depreciation).
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