v3.26.1
Consolidated Statements of Income and Expenses - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Investment Income:        
Interest income $ 1,532,187 $ 1,786,893 $ 3,054,774 $ 3,792,967
Interest income allocated from the Fund 217,470 143,124 442,414 338,620
Total investment income [1] 1,749,657 1,930,017 3,497,188 4,131,587
Expenses:        
Expenses allocated from the Fund 73,681 92,578 127,731 187,175
Clearing fees related to direct investments 594,209 641,898 1,306,442 1,180,262
Ongoing selling agent fees 434,974 442,076 880,600 938,216
Management fees 570,712 568,690 1,132,155 1,234,227
General Partner fees 443,954 451,986 899,077 959,114
Incentive fees 189,637 0 189,637 0
Professional fees 225,377 207,161 451,861 424,563
Total expenses 2,532,544 2,404,389 4,987,503 4,923,557
Net investment loss (782,887) (474,372) (1,490,315) (791,970)
Net gains (losses) on trading of commodity interests and investment in: the Fund:        
Net realized gains (losses) on closed contracts (2,423,110) (6,186,580) 14,889,540 (15,278,868)
Net realized gains (losses) on closed contracts allocated from the Fund 1,184,858 (1,962,015) 6,239,342 2,501,634
Net change in unrealized gains (losses) on open contracts 4,191,267 (6,371,278) (1,333,147) (4,216,411)
Net change in unrealized gains (losses) on open contracts allocated from the Fund (2,511,159) (365,134) (6,163,005) (1,647,462)
Total trading results 441,856 (14,885,007) 13,632,730 (18,641,107)
Net income (loss) $ (341,031) $ (15,359,379) $ 12,142,415 $ (19,433,077)
[1] For the three months ended June 30, 2026 and 2025 and the six months ended June 30, 2026 and 2025, interest income earned from trading accounts with MS&Co. amounted to $1,697,954, $1,843,547, $3,394,458, and $3,958,924, respectively.