10-Q 1 dbc-20240930.htm 10-Q 10-Q
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Investments Exchange-Traded Fund Invesco Short Term Treasury ETF2023-12-310001328237us-gaap:LongMemberus-gaap:FutureMemberdbc:CECSGoldMember2024-09-300001328237us-gaap:LongMemberdbc:NYMSWTICrudeOilMemberus-gaap:FutureMember2024-09-300001328237srt:WeightedAverageMemberus-gaap:CommodityContractMember2023-07-012023-09-300001328237United States Treasury Obligations U.S. Treasury Bill, 5.250% due March 7, 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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10-Q

 

(Mark One)

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2024

or

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission File Number: 001-32726

 

INVESCO DB COMMODITY INDEX TRACKING FUND

(Exact name of registrant as specified in its charter)

 

 

Delaware

 

32-6042243

(State or Other Jurisdiction of

Incorporation or Organization)

 

(I.R.S. Employer

Identification No.)

 

 

 

c/o Invesco Capital Management LLC

3500 Lacey Road, Suite 700

Downers Grove, Illinois

 

60515

(Address of Principal Executive Offices)

 

(Zip Code)

Registrant’s telephone number, including area code: (800) 983-0903

 

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Units of Beneficial Interest

DBC

NYSE Arca, Inc.

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large Accelerated Filer

☒

Accelerated Filer

☐

Non-Accelerated Filer

☐

 

Smaller reporting company

☐

 

 

 

Emerging growth company

☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

 

Indicate the number of outstanding Shares as of September 30, 2024: 64,250,000

 

 

 

INVESCO DB COMMODITY INDEX TRACKING FUND

QUARTER ENDED SEPTEMBER 30, 2024

TABLE OF CONTENTS

 

 

 

 

Page

PART I.

 

FINANCIAL INFORMATION

 

1

 

 

 

 

 

 

 

 

 

ITEM 1.

 

Financial Statements

 

1

 

 

 

Notes to Unaudited Financial Statements

 

8

 

 

ITEM 2.

 

Management’s Discussion and Analysis of Financial Condition and Results of Operations

 

18

 

 

ITEM 3.

 

Quantitative and Qualitative Disclosures About Market Risk

 

29

 

 

ITEM 4.

 

Controls and Procedures

 

32

 

 

 

 

 

 

 

PART II.

 

OTHER INFORMATION

 

32

 

 

 

 

 

 

 

 

 

Item 1.

 

Legal Proceedings

 

32

 

 

Item 1A.

 

Risk Factors

 

32

 

 

Item 2.

 

Unregistered Sales of Equity Securities and Use of Proceeds

 

32

 

 

Item 3.

 

Defaults Upon Senior Securities

 

32

 

 

Item 4.

 

Mine Safety Disclosures

 

32

 

 

Item 5.

 

Other Information

 

33

 

 

Item 6.

 

Exhibits

 

33

 

 

 

 

 

 

SIGNATURES

 

34

 

 

 

 

 

PART I. FINANCIAL INFORMATION

 

ITEM 1. FINANCIAL STATEMENTS.

Invesco DB Commodity Index Tracking Fund

Statements of Financial Condition

September 30, 2024 and December 31, 2023

(Unaudited)

 

 

 

September 30,

 

 

December 31,

 

 

 

2024

 

 

2023

 

Assets

 

 

 

 

 

 

United States Treasury Obligations, at value (cost $693,877,370 and
   $783,578,544, respectively)

 

$

694,582,126

 

 

$

784,350,648

 

Affiliated investments, at value (cost $717,146,908 and
  $907,765,903, respectively)

 

 

717,613,302

 

 

 

908,120,125

 

Other investments:

 

 

 

 

 

 

Variation margin receivable- Commodity Futures Contracts

 

 

1,071,694

 

 

 

—

 

LME Commodity Futures Contracts receivable

 

 

5,069,439

 

 

 

—

 

Unrealized appreciation on LME Commodity Futures Contracts

 

 

10,934,867

 

 

 

4,964,271

 

Receivable for:

 

 

 

 

 

 

Dividends from affiliates

 

 

2,128,866

 

 

 

3,716,526

 

Total assets

 

$

1,431,400,294

 

 

$

1,701,151,570

 

Liabilities

 

 

 

 

 

 

Other investments:

 

 

 

 

 

 

Variation margin payable- Commodity Futures Contracts

 

$

—

 

 

$

9,665,016

 

LME Commodity Futures Contracts payable

 

 

—

 

 

 

4,456,438

 

Unrealized depreciation on LME Commodity Futures Contracts

 

 

212,592

 

 

 

1,777,646

 

Payable for:

 

 

 

 

 

 

Distributions

 

 

—

 

 

 

599,093

 

Management fees

 

 

941,766

 

 

 

1,216,569

 

Brokerage commissions and fees

 

 

4,961

 

 

 

4,452

 

Total liabilities

 

 

1,159,319

 

 

 

17,719,214

 

Commitments and Contingencies (Note 10)

 

 

 

 

 

 

Equity

 

 

 

 

 

 

Shareholder's equity—General Shares

 

 

890

 

 

 

882

 

Shareholders' equity—Shares

 

 

1,430,240,085

 

 

 

1,683,431,474

 

Total shareholders' equity

 

 

1,430,240,975

 

 

 

1,683,432,356

 

Total liabilities and equity

 

$

1,431,400,294

 

 

$

1,701,151,570

 

General Shares outstanding

 

40

 

 

 

40

 

Shares outstanding

 

 

64,250,000

 

 

 

76,350,000

 

Net asset value per share

 

$

22.26

 

 

$

22.05

 

Market value per share

 

$

22.27

 

 

$

22.06

 

 

 

See accompanying Notes to Unaudited Financial Statements which are an integral part of the financial statements.

1

 

Invesco DB Commodity Index Tracking Fund

Schedule of Investments

September 30, 2024

(Unaudited)

 

Description

 

Percentage of
Shareholders'
Equity

 

 

Value

 

 

Principal Value

 

United States Treasury Obligations(a)

 

 

 

 

 

 

 

 

 

U.S. Treasury Bills, 4.980% due November 29, 2024 (b)

 

 

41.63

%

 

$

595,396,770

 

 

$

600,000,000

 

U.S. Treasury Bills, 4.970% due December 5, 2024

 

 

6.93

 

 

 

99,185,356

 

 

 

100,000,000

 

Total United States Treasury Obligations (cost $693,877,370)

 

 

48.56

%

 

$

694,582,126

 

 

 

 

Affiliated Investments

 

 

 

 

 

 

 

Shares

 

Exchange-Traded Fund

 

 

 

 

 

 

 

 

 

Invesco Short Term Treasury ETF (cost $215,027,176) (c)

 

 

15.07

%

 

$

215,493,570

 

 

 

2,039,500

 

Money Market Mutual Fund

 

 

 

 

 

 

 

 

 

Invesco Government & Agency Portfolio, Institutional
   Class, 4.85% (cost $502,119,732) (c)(d)

 

 

35.11

 

 

 

502,119,732

 

 

 

502,119,732

 

Total Affiliated Investments (cost $717,146,908)

 

 

50.18

%

 

$

717,613,302

 

 

 

 

Total Investments in Securities (cost $1,411,024,278)

 

 

98.74

%

 

$

1,412,195,428

 

 

 

 

(a)
Security may be traded on a discount basis. The interest rate shown represents the discount rate at the most recent auction date of the security prior to period end.
(b)
United States Treasury Obligations of $396,920,000 are on deposit with the Commodity Broker and held as maintenance margin for open futures contracts.
(c)
Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. See Note 8.
(d)
The rate shown is the 7-day SEC standardized yield as of September 30, 2024.

Open Commodity Futures Contracts

 

Number of
Contracts

 

 

Expiration Date

 

Notional Value

 

 

Value(e)

 

 

Unrealized
Appreciation
(Depreciation)(e)

 

Long Futures Contracts

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CBOT Corn

 

 

2,946

 

 

September - 2025

 

$

66,211,350

 

 

$

1,258,471

 

 

$

1,258,471

 

CBOT Soybean

 

 

1,327

 

 

November - 2024

 

 

70,131,950

 

 

 

(12,370,571

)

 

 

(12,370,571

)

CBOT Wheat

 

 

2,373

 

 

July - 2025

 

 

73,681,650

 

 

 

(11,185,331

)

 

 

(11,185,331

)

COMEX Gold

 

 

589

 

 

December - 2024

 

 

156,638,660

 

 

 

31,447,568

 

 

 

31,447,568

 

COMEX Silver

 

 

253

 

 

December - 2024

 

 

39,794,370

 

 

 

7,694,437

 

 

 

7,694,437

 

ICE-UK Brent Crude

 

 

2,423

 

 

December - 2024

 

 

172,711,440

 

 

 

(8,140,786

)

 

 

(8,140,786

)

LME Aluminum

 

 

1,043

 

 

June - 2025

 

 

69,420,516

 

 

 

(212,592

)

 

 

(212,592

)

LME Copper

 

 

302

 

 

May - 2025

 

 

75,241,941

 

 

 

3,162,402

 

 

 

3,162,402

 

LME Zinc

 

 

945

 

 

October - 2025

 

 

73,244,588

 

 

 

7,772,465

 

 

 

7,772,465

 

NYB-ICE Sugar

 

 

3,198

 

 

June - 2025

 

 

72,065,011

 

 

 

6,220,592

 

 

 

6,220,592

 

NYMEX Natural Gas

 

 

1,617

 

 

April - 2025

 

 

49,496,370

 

 

 

301,874

 

 

 

301,874

 

NYMEX NY Harbor ULSD

 

 

1,782

 

 

May - 2025

 

 

161,962,416

 

 

 

(20,835,626

)

 

 

(20,835,626

)

NYMEX RBOB Gasoline

 

 

2,208

 

 

November - 2024

 

 

176,773,363

 

 

 

(7,981,182

)

 

 

(7,981,182

)

NYMEX WTI Crude

 

 

2,534

 

 

December - 2024

 

 

171,045,000

 

 

 

(7,493,173

)

 

 

(7,493,173

)

Total Commodity Futures Contracts

 

 

 

 

 

 

 

 

 

$

(10,361,452

)

 

$

(10,361,452

)

 

(e)
Unrealized Appreciation (Depreciation) and Value are presented above, net by contract.

See accompanying Notes to Unaudited Financial Statements which are an integral part of the financial statements.

2

 

Invesco DB Commodity Index Tracking Fund

Schedule of Investments

December 31, 2023

(Unaudited)

Description

 

Percentage of
Shareholders'
Equity

 

 

Value

 

 

Principal Value

 

United States Treasury Obligations (a)

 

 

 

 

 

 

 

 

 

U.S. Treasury Bill, 5.250% due March 7, 2024

 

 

5.88

%

 

$

99,060,885

 

 

$

100,000,000

 

U.S. Treasury Bill, 5.240% due May 30, 2024(b)

 

 

34.90

 

 

 

587,475,930

 

 

 

600,000,000

 

U.S. Treasury Bill, 5.190% due June 6, 2024

 

 

5.81

 

 

 

97,813,833

 

 

 

100,000,000

 

Total United States Treasury Obligations (cost $783,578,544)

 

 

46.59

%

 

$

784,350,648

 

 

 

 

Affiliated Investments

 

 

 

 

 

 

 

Shares

 

Exchange-Traded Fund

 

 

 

 

 

 

 

 

 

Invesco Short Term Treasury ETF (cost $215,027,176)(c)(d)

 

 

12.80

%

 

$

215,381,398

 

 

 

2,039,500

 

Money Market Mutual Fund

 

 

 

 

 

 

 

 

 

Invesco Government & Agency Portfolio, Institutional
   Class, 5.29% (cost $692,738,727)(c)(e)

 

 

41.15

 

 

 

692,738,727

 

 

 

692,738,727

 

Total Affiliated Investments (cost $907,765,903)

 

 

53.95

%

 

$

908,120,125

 

 

 

 

Total Investments in Securities (cost $1,691,344,447)

 

 

100.54

%

 

$

1,692,470,773

 

 

 

 

(a)
Security may be traded on a discount basis. The interest rate shown represents the discount rate at the most recent auction date of the security prior to period end.
(b)
United States Treasury Obligations of $391,640,000 are on deposit with the Commodity Broker and held as maintenance margin for open futures contracts.
(c)
Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. See Note 8.
(d)
Effective after the close of markets on August 25, 2023, the fund’s name changed from Invesco Treasury Collateral ETF to Invesco Short Term Treasury ETF.
(e)
The rate shown is the 7-day SEC standardized yield as of December 31, 2023.

Open Commodity Futures Contracts

 

Number of
Contracts

 

 

Expiration Date

 

Notional Value

 

 

Value(f)

 

 

Unrealized
Appreciation
(Depreciation)(f)

 

Long Futures Contracts

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CBOT Corn

 

 

3,868

 

 

September - 2024

 

$

96,119,800

 

 

$

(3,022,853

)

 

$

(3,022,853

)

CBOT Soybean

 

 

1,527

 

 

November - 2024

 

 

95,113,013

 

 

 

(868,956

)

 

 

(868,956

)

CBOT Wheat

 

 

3,047

 

 

July - 2024

 

 

98,380,013

 

 

 

(3,834,781

)

 

 

(3,834,781

)

COMEX Gold

 

 

678

 

 

December - 2024

 

 

146,454,780

 

 

 

4,069,245

 

 

 

4,069,245

 

COMEX Silver

 

 

291

 

 

December - 2024

 

 

36,398,280

 

 

 

(217,693

)

 

 

(217,693

)

ICE-UK Brent Crude

 

 

2,787

 

 

December - 2024

 

 

207,324,929

 

 

 

206,207

 

 

 

206,207

 

LME Aluminum

 

 

1,271

 

 

May - 2024

 

 

76,649,244

 

 

 

(451,315

)

 

 

(451,315

)

LME Copper

 

 

356

 

 

May - 2024

 

 

76,464,350

 

 

 

(1,326,331

)

 

 

(1,326,331

)

LME Zinc

 

 

1,111

 

 

October - 2024

 

 

74,575,875

 

 

 

4,964,271

 

 

 

4,964,271

 

NYB-ICE Sugar

 

 

3,568

 

 

June - 2024

 

 

81,561,626

 

 

 

(9,971,245

)

 

 

(9,971,245

)

NYMEX Natural Gas

 

 

3,123

 

 

April - 2024

 

 

73,952,640

 

 

 

(22,591,951

)

 

 

(22,591,951

)

NYMEX NY Harbor ULSD

 

 

2,034

 

 

May - 2024

 

 

205,035,743

 

 

 

4,412,636

 

 

 

4,412,636

 

NYMEX RBOB Gasoline

 

 

2,540

 

 

November - 2024

 

 

210,650,328

 

 

 

(1,268,971

)

 

 

(1,268,971

)

NYMEX WTI Crude

 

 

2,915

 

 

December - 2024

 

 

203,875,100

 

 

 

(661,106

)

 

 

(661,106

)

Total Commodity Futures Contracts

 

 

 

 

 

 

 

 

 

$

(30,562,843

)

 

$

(30,562,843

)

 

(f)
Unrealized Appreciation (Depreciation) and Value are presented above, net by contract.

See accompanying Notes to Unaudited Financial Statements which are an integral part of the financial statements.

3

 

Invesco DB Commodity Index Tracking Fund

Statements of Income and Expenses

For the Three and Nine Months Ended September 30, 2024 and 2023

(Unaudited)

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Income

 

 

 

 

 

 

 

 

 

 

 

 

Interest Income

 

$

9,257,684

 

 

$

10,924,759

 

 

$

28,846,076

 

 

$

35,392,966

 

Dividends from Affiliates

 

 

11,324,043

 

 

 

17,257,593

 

 

 

36,758,052

 

 

 

45,303,312

 

Total Income

 

 

20,581,727

 

 

 

28,182,352

 

 

 

65,604,128

 

 

 

80,696,278

 

Expenses

 

 

 

 

 

 

 

 

 

 

 

 

Management Fees

 

 

3,323,365

 

 

 

4,496,023

 

 

 

10,594,118

 

 

 

13,871,165

 

Brokerage Commissions and Fees

 

 

52,039

 

 

 

87,119

 

 

 

178,920

 

 

 

281,078

 

Interest Expense

 

 

137,510

 

 

 

84,899

 

 

 

324,866

 

 

 

382,890

 

Total Expenses

 

 

3,512,914

 

 

 

4,668,041

 

 

 

11,097,904

 

 

 

14,535,133

 

Less: Waivers

 

 

(190,206

)

 

 

(324,122

)

 

 

(634,253

)

 

 

(885,378

)

Net Expenses

 

 

3,322,708

 

 

 

4,343,919

 

 

 

10,463,651

 

 

 

13,649,755

 

Net Investment Income (Loss)

 

 

17,259,019

 

 

 

23,838,433

 

 

 

55,140,477

 

 

 

67,046,523

 

Net Realized and Net Change in Unrealized Gain (Loss) on
   United States Treasury Obligations, Affiliated Investments
   and Commodity Futures Contracts

 

 

 

 

 

 

 

 

 

 

 

 

Net Realized Gain (Loss) from

 

 

 

 

 

 

 

 

 

 

 

 

United States Treasury Obligations

 

 

(10

)

 

 

(155

)

 

 

(11

)

 

 

(151

)

Commodity Futures Contracts

 

 

(23,007,985

)

 

 

(34,434,752

)

 

 

(65,193,587

)

 

 

(249,811,115

)

Net Realized Gain (Loss)

 

 

(23,007,995

)

 

 

(34,434,907

)

 

 

(65,193,598

)

 

 

(249,811,266

)

Net Change in Unrealized Gain (Loss) from

 

 

 

 

 

 

 

 

 

 

 

 

United States Treasury Obligations

 

 

487,288

 

 

 

(386,778

)

 

 

(67,348

)

 

 

(248,036

)

Affiliated Investments

 

 

387,505

 

 

 

65,377

 

 

 

112,172

 

 

 

239,694

 

Commodity Futures Contracts

 

 

(73,363,967

)

 

 

199,272,109

 

 

 

20,201,391

 

 

 

180,568,099

 

Net Change in Unrealized Gain (Loss)

 

 

(72,489,174

)

 

 

198,950,708

 

 

 

20,246,215

 

 

 

180,559,757

 

Net Realized and Net Change in Unrealized Gain (Loss) on
   United States Treasury Obligations, Affiliated Investments
   and Commodity Futures Contracts

 

 

(95,497,169

)

 

 

164,515,801

 

 

 

(44,947,383

)

 

 

(69,251,509

)

Net Income (Loss)

 

$

(78,238,150

)

 

$

188,354,234

 

 

$

10,193,094

 

 

$

(2,204,986

)

See accompanying Notes to Unaudited Financial Statements which are an integral part of the financial statements.

4

 

Invesco DB Commodity Index Tracking Fund

Statements of Changes in Shareholders’ Equity

For the Three Months Ended September 30, 2024 and 2023

(Unaudited)

 

General Shares

 

 

Shares

 

 

Total

 

 

Shares

 

 

Total
Equity

 

 

Shares

 

 

Total
Equity

 

 

Shareholders'
Equity

 

Balance at June 30, 2024

 

 

40

 

 

$

930

 

 

 

74,900,000

 

 

$

1,741,525,818

 

 

$

1,741,526,748

 

Purchases of Shares

 

 

 

 

 

 

 

 

1,400,000

 

 

 

32,416,611

 

 

 

32,416,611

 

Redemption of Shares

 

 

 

 

 

 

 

 

(12,050,000

)

 

 

(265,464,234

)

 

 

(265,464,234

)

Net Increase (Decrease) due to Share Transactions

 

 

 

 

 

 

 

 

(10,650,000

)

 

 

(233,047,623

)

 

 

(233,047,623

)

Net Income (Loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Investment Income (Loss)

 

 

 

 

 

22

 

 

 

 

 

 

17,258,997

 

 

 

17,259,019

 

Net Realized Gain (Loss) on United States Treasury
   Obligations, Affiliated Investments and Commodity
   Futures Contracts

 

 

 

 

 

(28

)

 

 

 

 

 

(23,007,967

)

 

 

(23,007,995

)

Net Change in Unrealized Gain (Loss) on United States
   Treasury Obligations, Affiliated Investments and
   Commodity Futures Contracts

 

 

 

 

 

(34

)

 

 

 

 

 

(72,489,140

)

 

 

(72,489,174

)

Net Income (Loss)

 

 

 

 

 

(40

)

 

 

 

 

 

(78,238,110

)

 

 

(78,238,150

)

Net Change in Shareholders' Equity

 

 

—

 

 

 

(40

)

 

 

(10,650,000

)

 

 

(311,285,733

)

 

 

(311,285,773

)

Balance at September 30, 2024

 

 

40

 

 

$

890

 

 

 

64,250,000

 

 

$

1,430,240,085

 

 

$

1,430,240,975

 

 

 

 

General Shares

 

 

Shares

 

 

Total

 

 

 

Shares

 

 

Total
Equity

 

 

Shares

 

 

Total
Equity

 

 

Shareholders'
Equity

 

Balance at June 30, 2023

 

 

40

 

 

$

909

 

 

 

85,950,000

 

 

$

1,952,774,731

 

 

$

1,952,775,640

 

Purchases of Shares

 

 

 

 

 

 

 

 

4,750,000

 

 

 

117,331,191

 

 

 

117,331,191

 

Redemption of Shares

 

 

 

 

 

 

 

 

(3,400,000

)

 

 

(81,819,988

)

 

 

(81,819,988

)

Net Increase (Decrease) due to Share Transactions

 

 

 

 

 

 

 

 

1,350,000

 

 

 

35,511,203

 

 

 

35,511,203

 

Net Income (Loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Investment Income (Loss)

 

 

 

 

 

(351

)

 

 

 

 

 

23,838,784

 

 

 

23,838,433

 

Net Realized Gain (Loss) on United States Treasury
   Obligations, Affiliated Investments and Commodity
   Futures Contracts

 

 

 

 

 

1,333

 

 

 

 

 

 

(34,436,240

)

 

 

(34,434,907

)

Net Change in Unrealized Gain (Loss) on United States
   Treasury Obligations, Affiliated Investments and
   Commodity Futures Contracts

 

 

 

 

 

(894

)

 

 

 

 

 

198,951,602

 

 

 

198,950,708

 

Net Income (Loss)

 

 

 

 

 

88

 

 

 

 

 

 

188,354,146

 

 

 

188,354,234

 

Net Change in Shareholders' Equity

 

 

—

 

 

 

88

 

 

 

1,350,000

 

 

 

223,865,349

 

 

 

223,865,437

 

Balance at September 30, 2023

 

 

40

 

 

$

997

 

 

 

87,300,000

 

 

$

2,176,640,080

 

 

$

2,176,641,077

 

See accompanying Notes to Unaudited Financial Statements which are an integral part of the financial statements.

5

 

Invesco DB Commodity Index Tracking Fund

Statements of Changes in Shareholders’ Equity

For the Nine Months Ended September 30, 2024 and 2023

(Unaudited)

 

 

General Shares

 

 

Shares

 

 

Total

 

 

Shares

 

 

Total
Equity

 

 

Shares

 

 

Total
Equity

 

 

Shareholders'
Equity

 

Balance at December 31, 2023

 

 

40

 

 

$

882

 

 

 

76,350,000

 

 

$

1,683,431,474

 

 

$

1,683,432,356

 

Purchases of Shares

 

 

 

 

 

 

 

 

8,250,000

 

 

 

189,030,873

 

 

 

189,030,873

 

Redemption of Shares

 

 

 

 

 

 

 

 

(20,350,000

)

 

 

(452,415,348

)

 

 

(452,415,348

)

Net Increase (Decrease) due to Share Transactions

 

 

 

 

 

 

 

 

(12,100,000

)

 

 

(263,384,475

)

 

 

(263,384,475

)

Net Income (Loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Investment Income (Loss)

 

 

 

 

 

43

 

 

 

 

 

 

55,140,434

 

 

 

55,140,477

 

Net Realized Gain (Loss) on United States Treasury
   Obligations, Affiliated Investments and Commodity
   Futures Contracts

 

 

 

 

 

(51

)

 

 

 

 

 

(65,193,547

)

 

 

(65,193,598

)

Net Change in Unrealized Gain (Loss) on United States
   Treasury Obligations, Affiliated Investments and
   Commodity Futures Contracts

 

 

 

 

 

16

 

 

 

 

 

 

20,246,199

 

 

 

20,246,215

 

Net Income (Loss)

 

 

 

 

 

8

 

 

 

 

 

 

10,193,086

 

 

 

10,193,094

 

Net Change in Shareholders' Equity

 

 

—

 

 

 

8

 

 

 

(12,100,000

)

 

 

(253,191,389

)

 

 

(253,191,381

)

Balance at September 30, 2024

 

 

40

 

 

$

890

 

 

 

64,250,000

 

 

$

1,430,240,085

 

 

$

1,430,240,975

 

 

 

 

General Shares

 

 

Shares

 

 

Total

 

 

 

Shares

 

 

Total
Equity

 

 

Shares

 

 

Total
Equity

 

 

Shareholders'
Equity

 

Balance at December 31, 2022

 

 

40

 

 

$

986

 

 

 

107,000,000

 

 

$

2,637,449,905

 

 

$

2,637,450,891

 

Purchases of Shares

 

 

 

 

 

 

 

 

12,200,000

 

 

 

293,447,991

 

 

 

293,447,991

 

Redemption of Shares

 

 

 

 

 

 

 

 

(31,900,000

)

 

 

(752,052,819

)

 

 

(752,052,819

)

Net Increase (Decrease) due to Share Transactions

 

 

 

 

 

 

 

 

(19,700,000

)

 

 

(458,604,828

)

 

 

(458,604,828

)

Net Income (Loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Investment Income (Loss)

 

 

 

 

 

(334

)

 

 

 

 

 

67,046,857

 

 

 

67,046,523

 

Net Realized Gain (Loss) on United States Treasury
   Obligations, Affiliated Investments and Commodity
   Futures Contracts

 

 

 

 

 

1,246

 

 

 

 

 

 

(249,812,512

)

 

 

(249,811,266

)

Net Change in Unrealized Gain (Loss) on United States
   Treasury Obligations, Affiliated Investments and
   Commodity Futures Contracts

 

 

 

 

 

(901

)

 

 

 

 

 

180,560,658

 

 

 

180,559,757

 

Net Income (Loss)

 

 

 

 

 

11

 

 

 

 

 

 

(2,204,997

)

 

 

(2,204,986

)

Net Change in Shareholders' Equity

 

 

—

 

 

 

11

 

 

 

(19,700,000

)

 

 

(460,809,825

)

 

 

(460,809,814

)

Balance at September 30, 2023

 

 

40

 

 

$

997

 

 

 

87,300,000

 

 

$

2,176,640,080

 

 

$

2,176,641,077

 

See accompanying Notes to Unaudited Financial Statements which are an integral part of the financial statements.

6

 

Invesco DB Commodity Index Tracking Fund

Statements of Cash Flows

For the Nine Months Ended September 30, 2024 and 2023

(Unaudited)

 

 

Nine Months Ended