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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables) | 3 Months Ended
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Mar. 31, 2025
FAIR VALUE OF FINANCIAL INSTRUMENTS |
Summary of valuation of securities using fair value hierarchy | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
At March 31, 2025 |  | Total |  | Level I |  | Level II |  | Level III
Short-Term Investments | ​ | $ | 145,950,000 | ​ | $ | 145,950,000 | ​ | $ | — | ​ | $ | —
Exchange-Traded Futures Contracts | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
United States Contracts | ​ | ​ | 1,475,440 | ​ | ​ | 1,475,440 | ​ | ​ | — | ​ | ​ | —
OTC Commodity Swap Contracts | ​ |  | (1,631) | ​ |  | — | ​ |  | (1,631) | ​ | ​ | —
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
At December 31, 2024 |  | Total |  | Level I |  | Level II |  | Level III
Short-Term Investments | ​ | $ | 532,370,156 | ​ | $ | 532,370,156 | ​ | $ | — | ​ | $ | —
Exchange-Traded Futures Contracts | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
United States Contracts | ​ |  | 80,696,279 | ​ |  | 80,696,279 | ​ |  | — | ​ |  | —
OTC Commodity Swap Contracts | ​ | ​ | (2,205) | ​ | ​ | — | ​ | ​ | (2,205) | ​ | ​ | —
Summary of fair value of derivative instruments | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Statements of | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Financial | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Condition |  | Fair Value at |  | Fair Value at
Derivatives not Accounted for as Hedging Instruments | ​ | Location | ​ | March 31, 2025 | ​ | December 31, 2024
Futures – Commodity Contracts |  | Unrealized gain (loss)on open commodity futures contracts | ​ | $ | 1,475,440 | ​ | $ | 80,696,279
Swap – Commodity Contracts | ​ | Unrealized gain (loss) on open OTC commodity swap contracts | ​ | $ | (1,631) | ​ | $ | (2,205)
Summary of the effect of derivative instruments on the statements of operations | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | For the three months ended | ​ | For the three months ended
​ | ​ | ​ | ​ | March 31, 2025 | ​ | March 31, 2024
​ | ​ | ​ | ​ | Realized Gain | ​ | Change in | ​ | ​ | ​ | Change in
​ | ​ | ​ | ​ | (Loss) on | ​ | Unrealized | ​ | Realized Gain | ​ | Unrealized
Derivatives not | ​ | ​ | ​ | Derivatives | ​ | Gain (Loss) on | ​ | (Loss) in | ​ | Gain (Loss) on
Accounted for as | ​ | Location of Gain (Loss) | ​ | Recognized | ​ | Derivatives | ​ | Derivatives | ​ | Derivatives
Hedging | ​ | on Derivatives | ​ | in | ​ | Recognized | ​ | Recognized | ​ | Recognized
Instruments |  | Recognized in Income |  | Income |  | in Income |  | in Income |  | in Income
Futures - Commodity Contracts | ​ | Realized gain (loss) on closed commodity futures contracts | ​ | $ | 228,668,009 | ​ | ​ | ​ | ​ | $ | (131,322,770) |  | ​ | ​
​ | ​ | Change in unrealized gain (loss) on open commodity futures contracts | ​ | ​ | ​ | ​ | $ | (79,220,839) | ​ | ​ | ​ | ​ | $ | (59,589,167)
OTC Swap - Commodity Contracts | ​ | Realized gain (loss) on closed OTC commodity swap contracts | ​ | $ | 55,505,217 | ​ | ​ | ​ | ​ | $ | 33,968,121 | ​ | ​ | ​
​ | ​ | Change in unrealized gain (loss) on open OTC commodity swap contracts | ​ | ​ | ​ | ​ | $ | 574 | ​ | ​ | ​ | ​ | $ | (14,904,042)
​

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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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