| 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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$ |
39,990,580 |
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$ |
— |
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|
$ |
39,990,580 |
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Exchange-Traded Fund |
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|
53,981,153 |
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|
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— |
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— |
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|
53,981,153 |
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Money Market Mutual Fund |
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|
87,433,379 |
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|
|
— |
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|
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— |
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|
|
87,433,379 |
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Total Investments in Securities |
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|
141,414,532 |
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|
39,990,580 |
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|
|
— |
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|
181,405,112 |
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Other Investments - Assets(a) |
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Commodity Futures Contracts |
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11,041,333 |
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— |
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— |
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|
|
11,041,333 |
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Total Investments |
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$ |
152,455,865 |
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|
$ |
39,990,580 |
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|
$ |
— |
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|
$ |
192,446,445 |
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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 |
|
$ |
— |
|
|
$ |
53,470,939 |
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|
$ |
— |
|
|
$ |
53,470,939 |
|
Exchange-Traded Fund |
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|
54,014,400 |
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|
|
— |
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|
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— |
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|
54,014,400 |
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Money Market Mutual Fund |
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|
100,993,456 |
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|
|
— |
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|
|
— |
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|
100,993,456 |
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Total Investments in Securities |
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|
155,007,856 |
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|
|
53,470,939 |
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|
|
— |
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|
208,478,795 |
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Other Investments - Assets(a) |
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|
|
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|
|
|
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Commodity Futures Contracts |
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|
10,025,351 |
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— |
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— |
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|
10,025,351 |
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Total Investments |
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$ |
165,033,207 |
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|
$ |
53,470,939 |
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|
$ |
— |
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$ |
218,504,146 |
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(a)Unrealized appreciation (depreciation).
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