Financial assets and liabilities at fair value as of June 30, 2026

Level 1

Level 2

Total

U.S. Treasury notes (1)

$

290,097,603 

$

-

$

290,097,603 

Short-Term Money Market Fund*

15,951,060 

-

15,951,060 

Exchange-traded futures contracts

Currencies

237,525 

-

237,525 

Energies

(78,123)

-

(78,123)

Grains

269,415 

-

269,415 

Interest rates

675,000 

-

675,000 

Livestock

35,230 

-

35,230 

Metals

(1,319,383)

-

(1,319,383)

Softs

(74,241)

-

(74,241)

Stock indices

(422,421)

-

(422,421)

Total exchange-traded futures contracts

(676,998)

-

(676,998)

OTC forward currency contracts

-

4,695,697 

4,695,697 

Total futures and forward currency contracts (2)

(676,998)

4,695,697 

4,018,699 

Total financial assets and liabilities at fair value

$

305,371,665 

$

4,695,697 

$

310,067,362

Per line item in Statements of Financial Condition

(1)

Investments in U.S. Treasury notes held in equity trading accounts as collateral

$

63,685,465

Investments in U.S. Treasury notes held in custody

226,412,138

Total investments in U.S. Treasury notes

$

290,097,603

(2)

Net unrealized appreciation on open futures and forward currency contracts

$

4,705,774

Net unrealized depreciation on open futures and forward currency contracts

(687,075)

Total net unrealized appreciation on open futures and forward currency contracts

$

4,018,699 

* The short-term money market fund is included in Cash and Cash Equivalents on the Statements of Financial Condition.

Financial assets and liabilities at fair value as of December 31, 2025

Level 1

Level 2

Total

U.S. Treasury notes (1)

$

269,140,010 

$

-

$

269,140,010 

Short-Term Money Market Fund*

14,891,998 

-

14,891,998 

Exchange-traded futures contracts

Currencies

15,923 

-

15,923 

Energies

4,164 

-

4,164 

Grains

637,598 

-

637,598 

Interest rates

141,192 

-

141,192 

Livestock

(32,050)

-

(32,050)

Metals

1,137,472 

-

1,137,472 

Softs

11,425 

-

11,425 

Stock indices

45,919 

-

45,919 

Total exchange-traded futures contracts

1,961,643 

-

1,961,643 

OTC forward currency contracts

-

1,388,542 

1,388,542 

Total futures and forward currency contracts (2)

1,961,643 

1,388,542 

3,350,185 

Total financial assets and liabilities at fair value

$

285,993,651

$

1,388,542 

$

287,382,193

Per line item in Statements of Financial Condition

(1)

Investments in U.S. Treasury notes held in equity trading accounts as collateral

$

51,974,100

Investments in U.S. Treasury notes

217,165,910

Total investments in U.S. Treasury notes

$

269,140,010

(2)

Net unrealized appreciation on open futures and forward currency contracts

$

3,615,361

Net unrealized depreciation on open futures and forward currency contracts

(265,176)

Total net unrealized appreciation on open futures and forward currency contracts

$

3,350,185 

* The short-term money market fund is included in Cash and Cash Equivalents on the Statements of Financial Condition.