Financial Highlights (Tables)

9 Months Ended

Sep. 30, 2022

Financial Highlights [Abstract]

Operating Performance Calculation Per Unit

The following is the per Unit operating performance calculation for the three months ended September 30, 2022 and 2021:

	Class 0			Class 2
Per unit operating performance
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
Net asset value per Unit, June 30, 2022	$	217.96		$	155.05
Net income:
Net investment loss		(4.04	)		(3.13	)
Net gain on investments		16.13			11.48
Net income		12.09			8.35
Net asset value per Unit, September 30, 2022	$	230.05		$	163.40

The following is the per Unit operating performance calculation for the nine months ended September 30, 2022 and 2021:

	Class 0			Class 2
Per unit operating performance
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
Net asset value per Unit, December 31, 2021	$	176.27		$	125.68
Net income:
Net investment loss		(15.30	)		(11.36	)
Net gain on investments		69.08			49.08
Net income		53.78			37.72
Net asset value per Unit, September 30, 2022	$	230.05		$	163.40

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, 2022 and 2021:

	Class 0						Class 2
	2022			2021			2022			2021
Total return before Incentive Allocation		6.94	%		(2.10	)%		6.75	%		(2.29	)%
Incentive Allocation		(1.39	)		0.00			(1.36	)		0.00
Total return after Incentive Allocation		5.55	%		(2.10	)%		5.39	%		(2.29	)%
Net investment loss before Incentive Allocation		(0.46	)%		(0.76	)%		(0.66	)%		(0.95	)%
Incentive Allocation		(1.37	)		0.00			(1.34	)		0.00
Net investment loss after Incentive Allocation		(1.83	)%		(0.76	)%		(2.00	)%		(0.95	)%
Total expenses before Incentive Allocation		0.73	%		0.77	%		0.92	%		0.96	%
Incentive Allocation		1.37			0.00			1.34			0.00
Total expenses after Incentive Allocation		2.10	%		0.77	%		2.26	%		0.96	%

The following represents ratios to average Members’ Capital and total return for the nine months ended September 30, 2022 and 2021:

	Class 0						Class 2
	2022			2021			2022			2021
Total return before Incentive Allocation		37.57	%		5.28	%		36.51	%		4.82	%
Incentive Allocation		(7.06	)		(1.51	)		(6.50	)		(1.56	)
Total return after Incentive Allocation		30.51	%		3.77	%		30.01	%		3.26	%
Net investment loss before Incentive Allocation		(1.71	)%		(2.03	)%		(2.27	)%		(2.60	)%
Incentive Allocation		(5.75	)		(1.45	)		(5.49	)		(1.44	)
Net investment loss after Incentive Allocation		(7.46	)%		(3.48	)%		(7.76	)%		(4.04	)%
Total expenses before Incentive Allocation		2.15	%		2.09	%		2.72	%		2.67	%
Incentive Allocation		5.75			1.45			5.49			1.44
Total expenses after Incentive Allocation		7.90	%		3.54	%		8.21	%		4.11	%