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Additional Valuation Information (Tables)
12 Months Ended
Dec. 31, 2019
Fair Value Disclosures [Abstract]  
Summary of the Tiered Valuation Input Levels

The following is a summary of the tiered valuation input levels as of December 31, 2019:

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Investments in Securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

United States Treasury Obligations

 

$

 

 

$

664,863,392

 

 

$

 

 

$

664,863,392

 

Exchange-Traded Fund

 

 

250,383,096

 

 

 

 

 

 

 

 

 

250,383,096

 

Money Market Mutual Fund

 

 

517,499,491

 

 

 

 

 

 

 

 

 

517,499,491

 

Total Investments in Securities

 

 

767,882,587

 

 

 

664,863,392

 

 

 

 

 

 

1,432,745,979

 

Other Investments - Assets(a)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commodity Futures Contracts

 

 

67,605,844

 

 

 

 

 

 

 

 

 

67,605,844

 

Other Investments - Liabilities(a)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commodity Futures Contracts

 

 

(19,911,449

)

 

 

 

 

 

 

 

 

(19,911,449

)

Total Other Investments

 

 

47,694,395

 

 

 

 

 

 

 

 

 

47,694,395

 

Total Investments

 

$

815,576,982

 

 

$

664,863,392

 

 

$

 

 

$

1,480,440,374

 

  

(a)

Unrealized appreciation (depreciation).

The following is a summary of the tiered valuation input levels as of December 31, 2018:

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Investments in Securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

United States Treasury Obligations

 

$

 

 

$

1,614,425,920

 

 

$

 

 

$

1,614,425,920

 

Exchange-Traded Fund

 

 

250,145,856

 

 

 

 

 

 

 

 

 

250,145,856

 

Money Market Mutual Fund

 

 

144,939,067

 

 

 

 

 

 

 

 

 

144,939,067

 

Total Investments in Securities

 

 

395,084,923

 

 

 

1,614,425,920

 

 

 

 

 

 

2,009,510,843

 

Other Investments - Assets(a)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commodity Futures Contracts

 

 

9,428,661

 

 

 

 

 

 

 

 

 

9,428,661

 

Other Investments - Liabilities(a)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commodity Futures Contracts

 

 

(253,228,835

)

 

 

 

 

 

 

 

 

(253,228,835

)

Total Other Investments

 

 

(243,800,174

)

 

 

 

 

 

 

 

 

(243,800,174

)

Total Investments

 

$

151,284,749

 

 

$

1,614,425,920

 

 

$

 

 

$

1,765,710,669

 

 

(a)

Unrealized appreciation (depreciation).