Fair Value Disclosures

3 Months Ended

Mar. 31, 2014

Fair Value Disclosures [Abstract]

Fair Value Disclosures

2. Fair Value Disclosures

The Fund’s assets and liabilities, measured at fair value on a recurring basis, are summarized in the following tables by the type of inputs applicable to the fair value measurements:

At March 31, 2014
	Level 1		Level 2		Total
Equity in broker trading accounts:
Net unrealized gain on open futures contracts*	$	12,066,277	$	—	$	12,066,277
Net unrealized gain on open forward currency contracts*		—		4,458,030		4,458,030
Cash and cash equivalents:
Money market fund		13,492,541		—		13,492,541
Investments in securities:
U.S. Treasury securities*		64,041,413		—		64,041,413
Commercial paper*		—		65,614,198		65,614,198
Corporate notes*		—		322,764,643		322,764,643
Certificates of deposit*		—		29,484,942		29,484,942
Total	$	89,600,231	$	422,321,813	$	511,922,044

*See the consolidated condensed schedule of investments for further description.

At December 31, 2013
	Level 1		Level 2		Total
Equity in broker trading accounts:
Net unrealized gain on open futures contracts*	$	37,958,108	$	—	$	37,958,108
Net unrealized gain on open forward currency contracts*		—		695,075		695,075
Cash and cash equivalents:
Money market fund		6,338,530		—		6,338,530
Investments in securities:
U.S. Treasury securities*		88,102,079		—		88,102,079
Commercial paper*		—		65,153,483		65,153,483
Corporate notes*		—		377,666,684		377,666,684
Certificates of deposit*		—		42,625,053		42,625,053
Total	$	132,398,717	$	486,140,295	$	618,539,012

 *See the consolidated condensed schedule of investments for further description.

There were no Level 3 holdings at March 31, 2014 or December 31, 2013, or during the periods then ended.

In addition to the financial instruments listed above, substantially all of the Fund’s other assets and liabilities are considered financial instruments and are reflected at fair value, or at carrying amounts that approximate fair value because of the short maturity of the instruments.