XML 56 R25.htm IDEA: XBRL DOCUMENT v3.20.1
FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)
12 Months Ended
Dec. 31, 2019
FAIR VALUE OF FINANCIAL INSTRUMENTS  
Schedule of summary of valuation of Usci's, Cper's, Usag's and Usmi's securities using fair value hierarchy

The following table summarizes the valuation of USCI’s securities at December 31, 2019 using the fair value hierarchy:

At December 31, 2019

    

Total

    

Level I

    

Level II

    

Level III

Short-Term Investments

$

188,989,355

$

188,989,355

$

$

Exchange-Traded Futures Contracts

 

Foreign Contracts

 

(2,381,779)

(2,381,779)

United States Contracts

 

4,520,647

4,520,647

During the year ended December 31, 2019, there were no transfers between Level I and Level II.

The following table summarizes the valuation of USCI’s securities at December 31, 2018 using the fair value hierarchy:

At December 31, 2018

    

Total

    

Level I

    

Level II

    

Level III

Short-Term Investments

$

436,426,995

$

436,426,995

$

$

Exchange-Traded Futures Contracts

 

Foreign Contracts

 

(1,866,820)

 

(1,866,820)

 

 

United States Contracts

 

(12,621,164)

 

(12,621,164)

 

 

During the year ended December 31, 2018, there were no transfers between Level I and Level II.

The following table summarizes the valuation of CPER's securities at December 31, 2019 using the fair value hierarchy:

At December 31, 2019

    

Total

    

Level I

    

Level II

    

Level III

Short-Term Investments

$

7,096,018

$

7,096,018

$

$

Exchange-Traded Futures Contracts

 

United States Contracts

 

346,250

 

346,250

 

 

During the year ended December 31, 2019, there were no transfers between Level I and Level II.

The following table summarizes the valuation of CPER's securities at December 31, 2018 using the fair value hierarchy:

At December 31, 2018

    

Total

    

Level I

    

Level II

    

Level III

Short-Term Investments

$

9,657,426

$

9,657,426

$

$

Exchange-Traded Futures Contracts

 

United States Contracts

 

(903,475)

 

(903,475)

 

 

Schedule of fair value of derivative instruments held by Usci, Cper, Usag and Usmi

Fair Value of Derivative Instruments Held by USCI

Derivatives not

    

    

    

Accounted for

Fair Value

Fair Value

as Hedging

Statements of Financial

At December 31, 

At December 31, 

Instruments

Condition Location

2019

2018

Futures - Commodity Contracts

 

Assets

$

2,138,868

$

(14,487,984)

Fair Value of Derivative Instruments Held by CPER

Derivatives not

    

    

    

Accounted for

Fair Value

Fair Value

as Hedging

Statements of Financial

At December 31, 

At December 31, 

Instruments

Condition Location

2019

2018

Futures - Commodity Contracts

 

Assets

 

$

346,250

$

(903,475)

Schedule of effect of derivative instruments on condensed statements of operations of Usci, Cper, Usag and Usmi

The Effect of Derivative Instruments on the Statements of Operations of USCI

For the year ended

For the year ended

For the year ended

December 31, 2019

December 31, 2018

December 31, 2017

    

    

    

Change in

    

    

Change in

    

    

Change in

Derivatives

Location of

Realized

Unrealized

Realized

Unrealized

Realized

Unrealized

not Accounted

Gain (Loss)

Gain (Loss)

Gain (Loss) on

Gain (Loss) 

Gain (Loss) on

Gain (Loss)

Gain (Loss) on

for as

on Derivatives

on Derivatives

Derivatives

on Derivatives

Derivatives

on Derivatives

Derivatives

Hedging

Recognized in

Recognized in

Recognized in

Recognized in

Recognized in

Recognized in

Recognized in

Instruments

Income

Income

Income

Income

Income

Income

Income

Futures - Commodity Contracts

 

Realized gain (loss) on closed positions

$

(29,144,478)

$

(54,710,680)

 

  

$

22,989,718

 

  

 

Change in unrealized gain (loss) on open positions

$

16,626,852

$

(21,360,954)

$

4,817,510

The Effect of Derivative Instruments on the Statements of Operations of CPER

For the year ended

For the year ended

For the year ended

December 31, 2019

December 31, 2018

December 31, 2017

    

    

    

Change in

    

    

Change in

    

    

Change in

Derivatives

Location of

Realized

Unrealized

Realized

Unrealized

Realized

Unrealized

not Accounted

Gain (Loss)

Gain (Loss)

Gain (Loss) on

Gain (Loss) 

Gain (Loss) on

Gain (Loss)

Gain (Loss) on

for as

on Derivatives

on Derivatives

Derivatives

on Derivatives

Derivatives

on Derivatives

Derivatives

Hedging

Recognized in

Recognized in

Recognized in

Recognized in

Recognized in

Recognized in

Recognized in

Instruments

Income

Income

Income

Income

Income

Income

Income

Futures - Commodity Contracts

 

Realized gain (loss) on closed positions

$

(1,134,850)

$

(1,318,188)

 

  

 

$

1,468,825

 

  

 

Change in unrealized gain (loss) on open positions

$

1,249,725

$

(1,785,413)

$

793,363