Derivative Instruments (Tables)

6 Months Ended

Jun. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair Value of Derivative Instruments and Effect of Derivative Instruments on Statements of Income and Expenses

The Fair Value of Derivative Instruments is as follows:

	June 30, 2024					December 31, 2023
Risk Exposure/Derivative Type (a)	Assets		Liabilities			Assets		Liabilities
Commodity risk
Commodity Futures Contracts	$	7,935,283	$	(64,305,875	)	$	15,443,843	$	(32,743,090	)

(a)Includes cumulative appreciation (depreciation) of commodity futures contracts. Only the current day’s variation margin receivable (payable) is reported in the June 30, 2024 and December 31, 2023 Statements of Financial Condition.

The Effect of Derivative Instruments on the Statements of Income and Expenses is as follows:

		For the Three Months Ended
	Location of Gain (Loss) on Derivatives	June 30,
Risk Exposure/Derivative Type	Recognized in Income	2024			2023
Commodity risk
Commodity Futures Contracts	Net Realized Gain (Loss)	$	81,138,515		$	18,263,580
	Net Change in Unrealized Gain (Loss)		(116,244,280	)		1,763,030
Total		$	(35,105,765	)	$	20,026,610

		For the Six Months Ended
	Location of Gain (Loss) on Derivatives	June 30,
Risk Exposure/Derivative Type	Recognized in Income	2024			2023
Commodity risk
Commodity Futures Contracts	Net Realized Gain (Loss)	$	125,541,503		$	18,348,157
	Net Change in Unrealized Gain (Loss)		(39,071,345	)		932,203
Total		$	86,470,158		$	19,280,360

Summary of Average Monthly Notional Value of Future Contracts Held

The table below summarizes the average monthly notional value of futures contracts held during the period:

	For the Three Months Ended				For the Six Months Ended
	June 30,				June 30,
	2024		2023		2024		2023
Average Notional Value	$	766,661,734	$	877,601,050	$	740,500,254	$	933,749,969