Financial Highlights (Tables)

9 Months Ended

Sep. 30, 2023

Financial Highlights [Abstract]

Operating Performance Calculation Per Unit

The following is the per Unit operating performance calculation for the three months ended September 30, 2023 and 2022:

	Class 0			Class 2
Per unit operating performance
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
Net asset value per Unit, June 30, 2023	$	223.94		$	158.17
Net income:
Net investment loss		(1.76	)		(1.18	)
Net gain on investments		17.36			12.26
Net income		15.60			11.08
Net asset value per Unit, September 30, 2023	$	239.54		$	169.25

The following is the per Unit operating performance calculation for the nine months ended September 30, 2023 and 2022:

	Class 0			Class 2
Per unit operating performance
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
Net asset value per Unit, December 31, 2022	$	224.59		$	159.22
Net income:
Net investment loss		(1.57	)		(1.54	)
Net gain on investments		16.52			11.57
Net income		14.95			10.03
Net asset value per Unit, September 30, 2023	$	239.54		$	169.25

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, 2023 and 2022:

	Class 0						Class 2
	2023			2022			2023			2022
Total return before Incentive Allocation		8.14	%		6.94	%		7.95	%		6.75	%
Incentive Allocation		(1.17	)		(1.39	)		(0.94	)		(1.36	)
Total return after Incentive Allocation		6.97	%		5.55	%		7.01	%		5.39	%
Net investment income (loss) before Incentive Allocation		0.37	%		(0.46	)%		0.17	%		(0.66	)%
Incentive Allocation		(1.13	)		(1.37	)		(0.90	)		(1.34	)
Net investment loss after Incentive Allocation		(0.76	)%		(1.83	)%		(0.73	)%		(2.00	)%
Total expenses before Incentive Allocation		0.73	%		0.73	%		0.92	%		0.92	%
Incentive Allocation		1.13			1.37			0.90			1.34
Total expenses after Incentive Allocation		1.86	%		2.10	%		1.82	%		2.26	%

The following represents ratios to average Members’ Capital and total return for the nine months ended September 30, 2023 and 2022:

	Class 0						Class 2
	2023			2022			2023			2022
Total return before Incentive Allocation		7.82	%		37.57	%		7.24	%		36.51	%
Incentive Allocation		(1.16	)		(7.06	)		(0.94	)		(6.50	)
Total return after Incentive Allocation		6.66	%		30.51	%		6.30	%		30.01	%
Net investment income (loss) before Incentive Allocation		0.53	%		(1.71	)%		(0.05	)%		(2.27	)%
Incentive Allocation		(1.23	)		(5.75	)		(0.91	)		(5.49	)
Net investment loss after Incentive Allocation		(0.70	)%		(7.46	)%		(0.96	)%		(7.76	)%
Total expenses before Incentive Allocation		2.11	%		2.15	%		2.65	%		2.72	%
Incentive Allocation		1.23			5.75			0.91			5.49
Total expenses after Incentive Allocation		3.34	%		7.90	%		3.56	%		8.21	%