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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