XML 30 R19.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Derivative Instruments | 12 Months Ended
--- | ---
Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivative Instruments | Note 7 – Derivative Instruments The Fair Value of Derivative Instruments is as follows:
|  | December 31, 2024 |  |  | December 31, 2023 |
Risk Exposure/Derivative Type (a) |  | Assets |  |  | Liabilities |  |  | Assets |  |  | Liabilities |
Commodity risk |  |  |  |  |  |  |  |  |  |  |  |
Commodity Futures Contracts |  | $ | — |  |  | $ | (5,858,893 | ) |  | $ | 3,571,650 |  |  | $ | (187,020 | )
(a) Includes cumulative appreciation (depreciation) of commodity futures contracts. Only the current day’s variation margin receivable (payable) is reported in the December 31, 2024 and December 31, 2023 Statements of Financial Condition for non-LME Commodity Futures Contracts. The Effect of Derivative Instruments on the Statements of Income and Expenses is as follows:
|  |  | For the Years Ended |
| Location of Gain or (Loss) on Derivatives |  | December 31, |
Risk Exposure/Derivative Type | Recognized in Income |  | 2024 |  |  | 2023 |  |  | 2022 |
Commodity risk |  |  |  |  |  |  |  |  |  |
Commodity Futures Contracts | Net Realized Gain (Loss) |  | $ | 38,573,595 |  |  | $ | 7,541,558 |  |  | $ | (12,223,418 | )
| Net Change in Unrealized Gain (Loss) |  |  | (9,243,523 | ) |  |  | (2,765,154 | ) |  |  | 8,296,896 |
Total |  |  | $ | 29,330,072 |  |  | $ | 4,776,404 |  |  | $ | (3,926,522 | )
The table below summarizes the average monthly notional value of futures contracts outstanding during the period:
|  | For the Years Ended |
|  | December 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Average Notional Value |  | $ | 156,166,473 |  |  | $ | 151,038,898 |  |  | $ | 105,202,792 |

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480237/815-40-50-5 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5C -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-5C Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 815 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/815/tableOfContent + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration