FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2021

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 September 30, 2021 using the fair value hierarchy:

At September 30, 2021	Total		Level I		Level II		Level III
Short-Term Investments	$	218,101,877	$	218,101,877	$	—	$	—
Exchange-Traded Futures Contracts
United States Contracts		7,590,906		7,590,906		—		—
Foreign Contracts		(1,624,494)		(1,624,494)		—		—

The following table summarizes the valuation of USCI’s securities at December 31, 2020 using the fair value hierarchy:

At December 31, 2020	Total		Level I		Level II		Level III
Short-Term Investments	$	103,316,877	$	103,316,877	$	—	$	—
Exchange-Traded Futures Contracts
United States Contracts		7,053,064		7,053,064		—		—
Foreign Contracts		240,280		240,280		—		—

The following table summarizes the valuation of CPER’s securities at September 30, 2021 using the fair value hierarchy:

At September 30, 2021	Total		Level I		Level II		Level III
Short-Term Investments	$	248,955,787	$	248,955,787	$	—	$	—
Exchange-Traded Futures Contracts
United States Contracts		(3,576,834)		(3,576,834)		—		—

The following table summarizes the valuation of CPER’s securities at December 31, 2020 using the fair value hierarchy:

At December 31, 2020	Total		Level I		Level II		Level III
Short-Term Investments	$	62,332,787	$	62,332,787	$	—	$	—
Exchange-Traded Futures Contracts
United States Contracts		4,296,063		4,296,063		—		—

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

Fair Value of Derivative Instruments Held by USCI

	Condensed
	Statements of
	Financial			Fair Value at
	Condition	Fair Value at		December 31,
Derivatives not Accounted for as Hedging Instruments	Location	September 30, 2021		2020
Futures - Commodity Contracts	Assets	$	5,966,412	$	7,293,344

Fair Value of Derivative Instruments Held by CPER

	Condensed
	Statements of
	Financial			Fair Value at
	Condition	Fair Value at		December 31,
Derivatives not Accounted for as Hedging Instruments	Location	September 30, 2021		2020
Futures - Commodity Contracts	Assets	$	(3,576,834)	$	4,296,063

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

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

		For the nine months ended				For the nine months ended
		September 30, 2021				September 30, 2020
				Change in Unrealized				Change in Unrealized
Derivatives not	Location of Gain	Realized gain (Loss)		Gain (Loss) on		Realized Gain (Loss)		Gain (Loss) on
Accounted for as	(Loss) on Derivatives	on Derivatives		Derivatives		in Derivatives		Derivatives
Hedging Instruments	Recognized in Income	Recognized in Income		Recognized in Income		Recognized in Income		Recognized in Income
Futures - Commodity Contracts	Realized gain (loss) on closed positions	$	42,739,282			$	(40,973,466)
	Change in unrealized gain (loss) on open positions			$	(1,326,932)			$	3,342,751

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

		For the nine months ended				For the nine months ended
		September 30, 2021				September 30, 2020
				Change in Unrealized				Change in Unrealized
Derivatives not	Location of Gain	Realized gain (Loss)		Gain (Loss) on		Realized Gain (Loss)		Gain (Loss) on
Accounted for as	(Loss) on Derivatives	on Derivatives		Derivatives		in Derivatives		Derivatives
Hedging Instruments	Recognized in Income	Recognized in Income		Recognized in Income		Recognized in Income		Recognized in Income
Futures - Commodity Contracts	Realized gain (loss) on closed positions	$	11,298,613			$	1,391,750
	Change in unrealized gain (loss) on open positions			$	(7,872,897)			$	1,264,638