Financial Highlights (Tables)

9 Months Ended

Sep. 30, 2021

Financial Highlights [Abstract]

Operating Performance Calculation Per Unit

The following is the per Unit operating performance calculation for the three months ended September 30, 2021 and 2020:

	Class 0			Class 2
Per unit operating performance
Net asset value per Unit, June 30, 2020	$	159.54		$	113.78
Net income:
Net investment loss		(2.90	)		(1.12	)
Net gain on investments		11.05			7.90
Net income		8.15			6.78
Net asset value per Unit, September 30, 2020	$	167.69		$	120.56
Net asset value per Unit, June 30, 2021	$	183.44		$	131.28
Net loss:
Net investment loss		(1.36	)		(1.22	)
Net loss on investments		(2.50	)		(1.78	)
Net loss		(3.86	)		(3.00	)
Net asset value per Unit, September 30, 2021	$	179.58		$	128.28

The following is the per Unit operating performance calculation for the nine months ended September 30, 2021 and 2020:

	Class 0			Class 2
Per unit operating performance
Net asset value per Unit, December 31, 2019	$	152.04		$	108.35
Net income:
Net investment loss		(4.45	)		(2.13	)
Net gain on investments		20.10			14.34
Net income		15.65			12.21
Net asset value per Unit, September 30, 2020	$	167.69		$	120.56
Net asset value per Unit, December 31, 2020	$	173.06		$	124.23
Net income:
Net investment loss		(6.23	)		(5.18	)
Net gain on investments		12.75			9.23
Net income		6.52			4.05
Net asset value per Unit, September 30, 2021	$	179.58		$	128.28

Ratios to Average Members' Capital and Total Return

The following represents ratios to average Members’ Capital and total return for the three months ended September 30, 2021 and 2020:

	Class 0						Class 2
	2021			2020			2021			2020
Total return before Incentive Allocation		(2.10	)%		6.33	%		(2.29	)%		6.19	%
Incentive Allocation		0.00			(1.22	)		0.00			(0.23	)
Total return after Incentive Allocation		(2.10	)%		5.11	%		(2.29	)%		5.96	%
Net investment loss before Incentive Allocation		(0.76	)%		(0.52	)%		(0.95	)%		(0.71	)%
Incentive Allocation		0.00			(1.22	)		0.00			(0.23	)
Net investment loss after Incentive Allocation		(0.76	)%		(1.74	)%		(0.95	)%		(0.94	)%
Total expenses before Incentive Allocation		0.77	%		0.72	%		0.96	%		0.92	%
Incentive Allocation		0.00			1.22			0.00			0.23
Total expenses after Incentive Allocation		0.77	%		1.94	%		0.96	%		1.15	%

The following represents ratios to average Members’ Capital and total return for the nine months ended September 30, 2021 and 2020:

	Class 0						Class 2
	2021			2020			2021			2020
Total return before Incentive Allocation		5.28	%		12.01	%		4.82	%		11.50	%
Incentive Allocation		(1.51	)		(1.72	)		(1.56	)		(0.23	)
Total return after Incentive Allocation		3.77	%		10.29	%		3.26	%		11.27	%
Net investment loss before Incentive Allocation		(2.03	)%		(1.08	)%		(2.60	)%		(1.64	)%
Incentive Allocation		(1.45	)		(1.72	)		(1.44	)		(0.23	)
Net investment loss after Incentive Allocation		(3.48	)%		(2.80	)%		(4.04	)%		(1.87	)%
Total expenses before Incentive Allocation		2.09	%		2.00	%		2.67	%		2.57	%
Incentive Allocation		1.45			1.72			1.44			0.23
Total expenses after Incentive Allocation		3.54	%		3.72	%		4.11	%		2.80	%