v3.25.1
FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)
3 Months Ended
Mar. 31, 2025
FAIR VALUE OF FINANCIAL INSTRUMENTS  
Schedule of valuation of UNL's securities using the fair value hierarchy

At March 31, 2025

    

Total

    

Level I

    

Level II

    

Level III

Short-Term Investments

 

$

10,000,000

$

10,000,000

$

$

Exchange-Traded Futures Contracts

 

  

 

  

 

  

 

  

United States Contracts

3,344,114

3,344,114

At December 31, 2024

    

Total

    

Level I

    

Level II

    

Level III

Short-Term Investments

 

$

11,000,000

$

11,000,000

$

$

Exchange-Traded Futures Contracts

 

United States Contracts

1,115,220

1,115,220

Schedule of fair value of derivative instruments

Statements of

Financial

Fair Value at

Fair Value at

Derivatives not Accounted for as Hedging Instruments

    

Condition Location

    

March 31, 2025

    

December 31, 2024

Futures - Commodity Contracts

 

Unrealized gain(loss) on open commodity futures contracts

$

3,344,114

$

1,115,220

Schedule of effect of derivative instruments on the statements of operations

For the three months ended

For the three months ended

March 31, 2025

March 31, 2024

Change in Unrealized

Change in Unrealized

Derivatives not

Location of Gain 

Realized Gain (Loss)

Gain (Loss) on

Realized Gain (Loss)

Gain (Loss) on

Accounted for as

(Loss) on Derivatives

on Derivatives

Derivatives

in Derivatives

Derivatives

Hedging Instruments

    

Recognized in Income

    

Recognized in Income

    

Recognized in Income

    

Recognized in Income

    

Recognized in Income

Futures - Commodity Contracts

 

Realized gain (loss) on closed commodity futures contracts

$

1,827,746

 

$

(4,924,948)

 

  

 

  

 

  

 

  

 

  

 

  

 

Change in unrealized gain (loss) on open commodity futures contracts

 

$

2,228,894

 

  

$

2,465,648