| Investments Accounted for at Fair Value on a Recurring Basis |
The following tables set forth by level within the fair value hierarchy the Trust’s investments accounted for at fair value on a recurring basis
as of March 31, 2026 and December 31, 2025.
| |
|
Fair Value at March 31, 2026
|
|
|
Description
|
|
Level 1
|
|
|
Level 2
|
|
|
Level 3
|
|
|
Total
|
|
|
Investments
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Short term investments
|
|
$
|
4,019,670
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
4,019,670
|
|
|
Fixed income securities
|
|
|
0
|
|
|
|
460,184,110
|
|
|
|
0
|
|
|
|
460,184,110
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Financial Instruments
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Exchange-traded futures contracts
|
|
|
13,718,050
|
|
|
|
0
|
|
|
|
0
|
|
|
|
13,718,050
|
|
|
Forward currency contracts
|
|
|
0
|
|
|
|
14,530,602
|
|
|
|
0
|
|
|
|
14,530,602
|
|
|
Credit default index swap contracts
|
|
|
0
|
|
|
|
(5,386,413
|
)
|
|
|
0
|
|
|
|
(5,386,413
|
)
|
| Interest rate swap contracts |
|
|
0 |
|
|
|
(812,643 |
) |
|
|
0 |
|
|
|
(812,643 |
) |
|
Total
|
|
$
|
17,737,720
|
|
|
$
|
468,515,656
|
|
|
$
|
0
|
|
|
$
|
486,253,376
|
|
| |
|
Fair Value at December 31, 2025
|
|
|
Description
|
|
Level 1
|
|
|
Level 2
|
|
|
Level 3
|
|
|
Total
|
|
|
Investments
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Short term investments
|
|
$
|
16,788,616
|
|
|
$
|
0
|
|
|
$
|
0
|
|
|
$
|
16,788,616
|
|
|
Fixed income securities
|
|
|
0
|
|
|
|
405,348,577
|
|
|
|
0
|
|
|
|
405,348,577
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Financial Instruments
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Exchange-traded futures contracts
|
|
|
9,561,021
|
|
|
|
0
|
|
|
|
0
|
|
|
|
9,561,021
|
|
|
Forward currency contracts
|
|
|
0
|
|
|
|
3,558,249
|
|
|
|
0
|
|
|
|
3,558,249
|
|
|
Credit default index swap contracts
|
|
|
0
|
|
|
|
26,945,598
|
|
|
|
0
|
|
|
|
26,945,598
|
|
| Interest rate swap contracts |
|
|
0 |
|
|
|
3,448,830 |
|
|
|
0 |
|
|
|
3,448,830 |
|
|
Total
|
|
$
|
26,349,637
|
|
|
$
|
439,301,254
|
|
|
$
|
0
|
|
|
$
|
465,650,891
|
|
|