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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables) | 6 Months Ended
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Jun. 30, 2025
FAIR VALUE OF FINANCIAL INSTRUMENTS |
Summary of valuation of securities using fair value hierarchy | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
At June 30, 2025 |  | Total |  | Level I |  | Level II |  | Level III
Short-Term Investments | ​ | $ | 352,450,000 | ​ | $ | 352,450,000 | ​ | $ | — | ​ | $ | —
Exchange-Traded Futures Contracts | ​ |  | ​ | ​ |  | ​ | ​ |  |  | ​ |  |
United States Contracts | ​ |  | (45,141,590) | ​ |  | (45,141,590) | ​ |  | — | ​ |  | —
OTC Commodity Swap Contracts | ​ |  | (8,919,388) | ​ |  | — | ​ |  | (8,919,388) | ​ |  | —
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
At December 31, 2024 |  | Total |  | Level I |  | Level II |  | Level III
Short-Term Investments | ​ | $ | 727,450,000 | ​ | $ | 727,450,000 | ​ | $ | — | ​ | $ | —
Exchange-Traded Futures Contracts | ​ |  | ​ | ​ |  | ​ | ​ |  |  | ​ |  |
United States Contracts | ​ |  | 28,431,020 | ​ |  | 28,431,020 | ​ |  | — | ​ |  | —
OTC Commodity Swap Contracts | ​ | ​ | (2,068) | ​ | ​ | — | ​ | ​ | (2,068) | ​ | ​ | —
Summary of fair value of derivative instruments | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Fair Value at | ​ | Fair Value at
Derivatives not Accounted for as Hedging Instruments |  | Statements of Financial Condition Location |  | June 30, 2025 |  | December 31, 2024
Futures - Commodity Contracts |  | Unrealized gain (loss) on open commodity futures contracts | ​ | $ | (45,141,590) | ​ | $ | 28,431,020
Swap - Commodity Contracts | ​ | Unrealized gain (loss) on open OTC commodity swap contracts | ​ | $ | (8,919,388) | ​ | $ | (2,068)
Summary of derivative instruments on the condensed statements of operations | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | For the six months ended | ​ | For the six months ended
​ | ​ | ​ | ​ | June 30, 2025 | ​ | June 30, 2024
​ | ​ | ​ | ​ | ​ | ​ | Change in | ​ | ​ | ​ | Change in
​ | ​ | Location of Gain | ​ | Realized Gain | ​ | Unrealized Gain | ​ | Realized Gain | ​ | Unrealized Gain
Derivatives not | ​ | (Loss) on | ​ | (Loss) on | ​ | (Loss) on | ​ | (Loss) in | ​ | (Loss) on
Accounted for as | ​ | Derivatives | ​ | Derivatives | ​ | Derivatives | ​ | Derivatives | ​ | Derivatives
Hedging | ​ | Recognized in | ​ | Recognized in | ​ | Recognized in | ​ | Recognized in | ​ | Recognized in
Instruments |  | Income |  | Income |  | Income |  | Income |  | Income
Futures - Commodity Contracts |  | Realized gain (loss) on closed commodity futures contracts | ​ | $ | 35,375,630 | ​ | ​ | — | ​ | $ | 137,561,190 | ​ | ​ | —
​ |  |  | ​ |  |  |  | ​ |  | ​ |  |  |  | ​ |
​ |  | Change in unrealized gain (loss) on open commodity futures contracts | ​ |  | — | ​ | $ | (73,572,610) | ​ |  | — | ​ | $ | 50,188,240
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
OTC Swap - Commodity Contracts | ​ | Realized gain (loss) on closed OTC commodity swap contracts | ​ | $ | (1,509,676) | ​ | ​ | — | ​ | $ | 44,700,874 | ​ | ​ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Change in unrealized gain (loss) on open OTC commodity swap contracts | ​ | ​ | — | ​ | $ | (8,917,320) | ​ | ​ | — | ​ | $ | (318)
​

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- Definition Tabular disclosure of financial instrument measured at fair value on recurring or nonrecurring basis. Includes, but is not limited to, instrument classified in shareholders' equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 100 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-100 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 + Details
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