Company Quick10K Filing
Invesco DB Energy Fund
Price13.78 EPS2
Shares4 P/E6
MCap58 P/FCF1
Net Debt0 EBIT10
TEV58 TEV/EBIT6
TTM 2019-09-30, in MM, except price, ratios
10-Q 2021-03-31 Filed 2021-05-07
10-K 2020-12-31 Filed 2021-02-26
10-Q 2020-09-30 Filed 2020-11-06
10-Q 2020-06-30 Filed 2020-08-07
10-Q 2020-03-31 Filed 2020-05-08
10-K 2019-12-31 Filed 2020-02-28
10-Q 2019-09-30 Filed 2019-11-08
S-1 2019-08-13 Public Filing
10-Q 2019-06-30 Filed 2019-08-08
10-Q 2019-03-31 Filed 2019-05-09
10-K 2018-12-31 Filed 2019-02-28
S-1 2018-11-15 Public Filing
10-Q 2018-09-30 Filed 2018-11-07
10-Q 2018-06-30 Filed 2018-08-08
10-Q 2018-03-31 Filed 2018-05-08
10-K 2017-12-31 Filed 2018-02-28
10-Q 2017-09-30 Filed 2017-11-09
10-Q 2017-06-30 Filed 2017-08-08
10-Q 2017-03-31 Filed 2017-05-09
10-K 2016-12-31 Filed 2017-03-01
10-Q 2016-09-30 Filed 2016-11-08
10-Q 2016-06-30 Filed 2016-08-09
10-Q 2016-03-31 Filed 2016-05-10
10-K 2015-12-31 Filed 2016-02-29
10-Q 2015-09-30 Filed 2015-11-06
10-Q 2015-06-30 Filed 2015-08-10
10-Q 2015-03-31 Filed 2015-05-11
10-K 2014-12-31 Filed 2015-03-06
10-Q 2014-09-30 Filed 2014-11-05
10-Q 2014-06-30 Filed 2014-08-06
10-Q 2014-03-31 Filed 2014-05-09
10-K 2013-12-31 Filed 2014-03-04
10-Q 2013-09-30 Filed 2013-11-05
10-Q 2013-06-30 Filed 2013-08-08
10-Q 2013-03-31 Filed 2013-05-03
10-K 2012-12-31 Filed 2013-03-01
10-Q 2012-09-30 Filed 2012-11-02
10-Q 2012-06-30 Filed 2012-08-03
10-Q 2012-03-31 Filed 2012-05-14
10-K 2011-12-31 Filed 2012-03-14
10-Q 2011-09-30 Filed 2011-11-07
10-Q 2011-06-30 Filed 2011-08-05
10-Q 2011-03-31 Filed 2011-05-06
10-K 2010-12-31 Filed 2011-03-14
10-Q 2010-09-30 Filed 2010-11-05
10-Q 2010-06-30 Filed 2010-08-06
10-Q 2010-03-31 Filed 2010-05-10
10-K 2009-12-31 Filed 2010-03-08
8-K 2020-04-02
8-K 2019-10-01
8-K 2018-08-27
8-K 2018-06-04
8-K 2018-05-24
8-K 2018-03-08

DBE 10Q Quarterly Report

Part I. Financial Information
Item 1. Financial Statements.
Note 1 - Organization
Note 2 - Summary of Significant Accounting Policies
Note 3 - Financial Instrument Risk
Note 4 - Service Providers and Related Party Agreements
Note 5 - Deposits with Commodity Broker and Custodian
Note 6 - Additional Valuation Information
Note 7 - Derivative Instruments
Note 8 - Investments in Affiliates
Note 9 - Share Purchases and Redemptions
Note 10 - Commitments and Contingencies
Note 11 - Financial Highlights
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations.
Item 3. Quantitative and Qualitative Disclosures About Market Risk.
Item 4. Controls and Procedures.
Part II. Other Information
Item 1. Legal Proceedings.
Item 1A. Risk Factors.
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.
Item 3. Defaults Upon Senior Securities.
Item 4. Mine Safety Disclosures.
Item 5. Other Information.
Item 6. Exhibits.
EX-31.1 dbe-ex311_10.htm
EX-31.2 dbe-ex312_6.htm
EX-32.1 dbe-ex321_8.htm
EX-32.2 dbe-ex322_9.htm

Invesco DB Energy Fund Earnings 2021-03-31

Balance SheetIncome StatementCash Flow

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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 March 31, 2021

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:                    001-33240

 

INVESCO DB ENERGY FUND

(A Series of Invesco DB Multi-Sector Commodity Trust)

(Exact name of registrant as specified in its charter)

 

Delaware

87-0778060

(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: (800983-0903

 

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

DBE

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 March 31, 2021: 6,500,000

 

 


 

 

INVESCO DB ENERGY FUND

(A SERIES OF INVESCO DB MULTI-SECTOR COMMODITY TRUST)

QUARTER ENDED MARCH 31, 2021

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

26

ITEM 4.

Controls and Procedures

28

 

 

 

PART II.

OTHER INFORMATION

28

 

 

 

Item 1.

Legal Proceedings

28

Item 1A.

Risk Factors

28

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

28

Item 3.

Defaults Upon Senior Securities

28

Item 4.

Mine Safety Disclosures

29

Item 5.

Other Information

29

Item 6.

Exhibits

29

 

 

SIGNATURES

30

 

 

 

 


 

PART I. FINANCIAL INFORMATION

ITEM  1.

FINANCIAL STATEMENTS.

Invesco DB Energy Fund

Statements of Financial Condition

March 31, 2021 and December 31, 2020

(Unaudited)

 

 

 

March 31,

 

 

December 31,

 

 

 

2021

 

 

2020

 

Assets

 

 

 

 

 

 

 

 

United States Treasury Obligations, at value (cost $34,992,665 and $19,992,113,

    respectively)

 

$

34,997,790

 

 

$

19,993,340

 

Affiliated investments, at value (cost $50,975,106 and $38,240,835, respectively)

 

 

51,004,675

 

 

 

38,268,976

 

Other investments:

 

 

 

 

 

 

 

 

Variation margin receivable - Commodity Futures Contracts

 

 

 

 

 

173,501

 

Cash held by custodian

 

 

 

 

 

246,166

 

Receivable for:

 

 

 

 

 

 

 

 

Dividends from affiliates

 

 

1,147

 

 

 

525

 

Total assets

 

$

86,003,612

 

 

$

58,682,508

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

Other investments:

 

 

 

 

 

 

 

 

Variation margin payable- Commodity Futures Contracts

 

$

1,186,400

 

 

$

 

Payable for:

 

 

 

 

 

 

 

 

Management fees

 

 

51,624

 

 

 

35,268

 

Brokerage commissions and fees

 

 

5,006

 

 

 

4,992

 

Total liabilities

 

 

1,243,030

 

 

 

40,260

 

Commitments and Contingencies (Note 10)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Equity

 

 

 

 

 

 

 

 

Shareholder's equity—General Shares

 

 

522

 

 

 

434

 

Shareholders' equity—Shares

 

 

84,760,060

 

 

 

58,641,814

 

Total shareholders' equity

 

 

84,760,582

 

 

 

58,642,248

 

Total liabilities and equity

 

$

86,003,612

 

 

$

58,682,508

 

 

 

 

 

 

 

 

 

 

General Shares outstanding

 

 

40

 

 

 

40

 

Shares outstanding

 

 

6,500,000

 

 

 

5,400,000

 

Net asset value per share

 

$

13.04

 

 

$

10.86

 

Market value per share

 

$

13.07

 

 

$

10.86

 

 

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

 

 

1


 

Invesco DB Energy Fund

Schedule of Investments

March 31, 2021

(Unaudited)

 

Description

 

Percentage of

Shareholders'

Equity

 

 

Value

 

 

Principal Value

 

United States Treasury Obligations (a)

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury Bills, 0.045% due June 10, 2021

 

 

5.90

%

 

$

4,999,888

 

 

$

5,000,000

 

U.S. Treasury Bills, 0.070% due August 5, 2021

 

 

21.23

 

 

 

17,999,055

 

 

 

18,000,000

 

U.S. Treasury Bills, 0.050% due August 12, 2021 (b)

 

 

5.90

 

 

 

4,999,649

 

 

 

5,000,000

 

U.S. Treasury Bills, 0.060% due September 9, 2021 (b)

 

 

2.36

 

 

 

1,999,821

 

 

 

2,000,000

 

U.S. Treasury Bills, 0.035% due October 7, 2021 (b)

 

 

5.90

 

 

 

4,999,377

 

 

 

5,000,000

 

Total United States Treasury Obligations (cost $34,992,665)

 

 

41.29

%

 

$

34,997,790

 

 

 

 

 

Affiliated Investments

 

 

 

 

 

 

 

 

 

Shares

 

Exchange-Traded Fund

 

 

 

 

 

 

 

 

 

 

 

 

Invesco Treasury Collateral ETF (cost $10,031,643)(c)

 

 

11.87

%

 

$

10,061,212

 

 

 

95,200

 

Money Market Mutual Fund

 

 

 

 

 

 

 

 

 

 

 

 

Invesco Government & Agency Portfolio,

  Institutional Class, 0.03% (cost $40,943,463)(c)(d)

 

 

48.31

 

 

 

40,943,463

 

 

 

40,943,463

 

Total Affiliated Investments (cost $50,975,106)

 

 

60.18

%

 

$

51,004,675

 

 

 

 

 

Total Investments in Securities (cost $85,967,771)

 

 

101.47

%

 

$

86,002,465

 

 

 

 

 

 

(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 $11,998,100 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 March 31, 2021.

 

 

Open Commodity Futures Contracts

 

Number of Contracts

 

Expiration Date

 

Notional

Value

 

 

Value(e)

 

 

Unrealized Appreciation (Depreciation)(e)

 

Long Futures Contracts

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ICE-UK Brent Crude

 

311

 

November - 2021

 

$

18,616,460

 

 

$

4,095,687

 

 

$

4,095,687

 

NYMEX Natural Gas

 

224

 

April - 2021

 

 

5,841,920

 

 

 

(102,696

)

 

 

(102,696

)

NYMEX NY Harbor ULSD

 

263

 

May - 2021

 

 

19,582,349

 

 

 

5,124,072

 

 

 

5,124,072

 

NYMEX RBOB Gasoline

 

285

 

November - 2021

 

 

20,286,756

 

 

 

4,348,242

 

 

 

4,348,242

 

NYMEX WTI Crude

 

363

 

December - 2021

 

 

20,480,460

 

 

 

1,307,723

 

 

 

1,307,723

 

Total Commodity Futures Contracts

 

 

 

 

 

 

 

 

 

$

14,773,028

 

 

$

14,773,028

 

 

(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 Energy Fund

Schedule of Investments

December 31, 2020

(Unaudited)

 

Description

 

Percentage of

Shareholders'

Equity

 

 

Value

 

 

Principal Value

 

United States Treasury Obligations (a)

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury Bills, 0.080% due March 11, 2021 (b)

 

 

13.64

%

 

$

7,999,047

 

 

$

8,000,000

 

U.S. Treasury Bills, 0.090% due June 10, 2021

 

 

8.52

 

 

 

4,998,414

 

 

 

5,000,000

 

U.S. Treasury Bills, 0.140% due September 9, 2021

 

 

3.41

 

 

 

1,998,946

 

 

 

2,000,000

 

U.S. Treasury Bills, 0.140% due October 7, 2021

 

 

8.52

 

 

 

4,996,933

 

 

 

5,000,000

 

Total United States Treasury Obligations (cost $19,992,113)

 

 

34.09

%

 

$

19,993,340

 

 

 

 

 

Affiliated Investments

 

 

 

 

 

 

 

 

 

Shares

 

   Exchange-Traded Fund

 

 

 

 

 

 

 

 

 

 

 

 

      Invesco Treasury Collateral ETF (cost $10,031,643)(c)

 

 

17.16

%

 

$

10,059,784

 

 

 

95,200

 

   Money Market Mutual Fund

 

 

 

 

 

 

 

 

 

 

 

 

Invesco Government & Agency Money Portfolio,

Institutional Class, 0.03% (cost $28,209,192)(c)(d)

 

 

48.10

 

 

 

28,209,192

 

 

 

28,209,192

 

Total Affiliated Investments (cost $38,240,835)

 

 

65.26

%

 

$

38,268,976

 

 

 

 

 

Total Investments in Securities (cost $58,232,948)

 

 

99.35

%

 

$

58,262,316

 

 

 

 

 

 

(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 $7,998,400 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 security and the Fund are advised by wholly-owned subsidiaries of Invesco Ltd. and are therefore considered to be affiliated. The rate shown is the 7-day SEC standardized yield as of December 31, 2020.

 

 

Open Commodity Futures Contracts

 

Number of Contracts

 

Expiration Date

 

Notional

Value

 

 

Value(e)

 

 

Unrealized Appreciation (Depreciation)(e)

 

Long Futures Contracts

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ICE-UK Brent Crude

 

259

 

November - 2021

 

$

13,107,990

 

 

$

1,708,402

 

 

$

1,708,402

 

NYMEX Natural Gas

 

186

 

April - 2021

 

 

4,752,300

 

 

 

(86,063

)

 

 

(86,063

)

NYMEX NY Harbor ULSD

 

219

 

May - 2021

 

 

13,709,619

 

 

 

2,728,484

 

 

 

2,728,484

 

NYMEX RBOB Gasoline

 

237

 

November - 2021

 

 

13,401,070

 

 

 

732,206

 

 

 

732,206

 

NYMEX WTI Crude

 

282

 

February - 2021

 

 

13,713,660

 

 

 

3,314,346

 

 

 

3,314,346

 

Total Commodity Futures Contracts

 

 

 

 

 

 

 

 

 

$

8,397,375

 

 

$

8,397,375

 

 

(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.

 

 

3


 

Invesco DB Energy Fund

Statements of Income and Expenses

For the Three Months Ended March 31, 2021 and 2020

(Unaudited)

 

 

 

Three Months Ended

 

 

 

 

March 31,

 

 

 

 

2021

 

 

2020

 

 

Income

 

 

 

 

 

 

 

 

 

Interest Income

 

$

4,874

 

 

$

90,282

 

 

Dividends from Affiliates

 

 

4,427

 

 

 

116,456

 

 

Total Income

 

 

9,301

 

 

 

206,738

 

 

Expenses

 

 

 

 

 

 

 

 

 

Management Fees

 

 

138,892

 

 

 

103,498

 

 

Brokerage Commissions and Fees

 

 

2,693

 

 

 

6,471

 

 

Interest Expense

 

 

277

 

 

 

1,952

 

 

Total Expenses

 

 

141,862

 

 

 

111,921

 

 

Less: Waivers

 

 

(9,940

)

 

 

(11,215

)

 

Net Expenses

 

 

131,922

 

 

 

100,706

 

 

Net Investment Income (Loss)

 

 

(122,621

)

 

 

106,032

 

 

Net Realized and Net Change in Unrealized Gain (Loss) on

   United States Treasury Obligations, Affiliated Investments

   and Commodity Futures Contracts

 

 

 

 

 

 

 

 

 

Net Realized Gain (Loss) on

 

 

 

 

 

 

 

 

 

United States Treasury Obligations

 

 

 

 

 

(600

)

 

Affiliated Investments

 

 

 

 

 

21,121

 

 

Commodity Futures Contracts

 

 

6,480,874

 

 

 

(8,569,306

)

 

Net Realized Gain (Loss)

 

 

6,480,874

 

 

 

(8,548,785

)

 

Net Change in Unrealized Gain (Loss) on

 

 

 

 

 

 

 

 

 

United States Treasury Obligations

 

 

3,898

 

 

 

26,374

 

 

Affiliated Investments

 

 

1,428

 

 

 

46,214

 

 

Commodity Futures Contracts

 

 

6,375,653

 

 

 

(21,679,404

)

 

Net Change in Unrealized Gain (Loss)

 

 

6,380,979

 

 

 

(21,606,816

)

 

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

 

 

12,861,853

 

 

 

(30,155,601

)

 

Net Income (Loss)

 

$

12,739,232

 

 

$

(30,049,569

)

 

 

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

 

 


4


 

Invesco DB Energy Fund
Statement of Changes in Shareholders' Equity
For the Three Months Ended March 31, 2021
(Unaudited)

 

 

 

General Shares

 

 

Shares

 

 

Total

 

 

 

Shares

 

 

Total

Equity

 

 

Shares

 

 

Total

Equity

 

 

Shareholders'

Equity

 

Balance at December 31, 2020

 

 

40

 

 

$

434

 

 

 

5,400,000

 

 

$

58,641,814

 

 

$

58,642,248

 

Purchases of Shares

 

 

 

 

 

 

 

 

 

 

1,400,000

 

 

 

17,319,130

 

 

 

17,319,130

 

Redemption of Shares

 

 

 

 

 

 

 

 

 

 

(300,000

)

 

 

(3,940,028

)

 

 

(3,940,028

)

Net Increase (Decrease) due to Share Transactions

 

 

 

 

 

 

 

 

 

 

1,100,000

 

 

 

13,379,102

 

 

 

13,379,102

 

Net Income (Loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Investment Income (Loss)

 

 

 

 

 

 

(1

)

 

 

 

 

 

 

(122,620

)

 

 

(122,621

)

Net Realized Gain (Loss) on United States Treasury

   Obligations, Affiliated Investments and Commodity

   Futures Contracts

 

 

 

 

 

 

45

 

 

 

 

 

 

 

6,480,829

 

 

 

6,480,874

 

Net Change in Unrealized Gain (Loss) on United States

   Treasury Obligations, Affiliated Investments and

   Commodity Futures Contracts

 

 

 

 

 

 

44

 

 

 

 

 

 

 

6,380,935

 

 

 

6,380,979

 

Net Income (Loss)

 

 

 

 

 

 

88

 

 

 

 

 

 

 

12,739,144

 

 

 

12,739,232

 

Net Change in Shareholders' Equity

 

 

 

 

 

88

 

 

 

1,100,000

 

 

 

26,118,246

 

 

 

26,118,334

 

Balance at March 31, 2021

 

 

40

 

 

$

522

 

 

 

6,500,000

 

 

$

84,760,060

 

 

$

84,760,582

 

 

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

 


5


 

Invesco DB Energy Fund
Statement of Changes in Shareholders' Equity
For the Three Months Ended March 31, 2020
(Unaudited)

 

 

 

General Shares

 

 

Shares

 

 

Total

 

 

 

Shares

 

 

Total

Equity

 

 

Shares

 

 

Total

Equity

 

 

Shareholders'

Equity

 

Balance at December 31, 2019

 

 

40

 

 

$

585

 

 

 

4,400,000

 

 

$

64,331,328

 

 

$

64,331,913

 

Purchases of Shares

 

 

 

 

 

 

 

 

 

 

2,400,000

 

 

 

30,765,132

 

 

 

30,765,132

 

Redemption of Shares

 

 

 

 

 

 

 

 

 

 

(2,400,000

)

 

 

(29,020,836

)

 

 

(29,020,836

)

Net Increase (Decrease) due to Share Transactions

 

 

 

 

 

 

 

 

 

 

 

 

 

1,744,296

 

 

 

1,744,296

 

Net Income (Loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Investment Income (Loss)

 

 

 

 

 

 

1

 

 

 

 

 

 

 

106,031

 

 

 

106,032

 

Net Realized Gain (Loss) on United States Treasury

   Obligations, Affiliated Investments and Commodity

   Futures Contracts

 

 

 

 

 

 

(73

)

 

 

 

 

 

 

(8,548,712

)

 

 

(8,548,785

)

Net Change in Unrealized Gain (Loss) on United States

   Treasury Obligations, Affiliated Investments and

   Commodity Futures Contracts

 

 

 

 

 

 

(185

)

 

 

 

 

 

 

(21,606,631

)

 

 

(21,606,816

)

Net Income (Loss)

 

 

 

 

 

 

(257

)

 

 

 

 

 

 

(30,049,312

)

 

 

(30,049,569

)

Net Change in Shareholders' Equity

 

 

 

 

 

(257

)

 

 

 

 

 

(28,305,016

)

 

 

(28,305,273

)

Balance at March 31, 2020

 

 

40

 

 

$

328

 

 

 

4,400,000

 

 

$

36,026,312

 

 

$

36,026,640

 

 

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

6


Invesco DB Energy Fund

Statements of Cash Flows

For the Three Months Ended March 31, 2021 and 2020

(Unaudited)

 

 

 

Three Months Ended

 

 

 

March 31,

 

 

 

2021

 

 

2020

 

Cash flows from operating activities: