Amplify Commodity Trust Files Q1 2024 10-Q

TL;DR

Amplify Commodity Trust filed its 10-Q for Q1 2024. Check financials.

AI Summary

Amplify Commodity Trust filed its 10-Q for the quarterly period ended March 31, 2024. The filing, submitted on May 21, 2024, provides an update on the trust's financial performance and operations. The trust, incorporated in Delaware, has its principal executive offices located in Lisle, Illinois.

Why It Matters

This filing provides investors with crucial financial information and operational updates for Amplify Commodity Trust for the first quarter of 2024.

Risk Assessment

Risk Level: low — This is a standard quarterly filing providing financial information, not indicating immediate operational or financial distress.

Key Numbers

• 001-36851 — Commission File Number (Identifies the specific SEC filing for the trust.)
• 36-4793446 — IRS Employer Identification No. (Tax identification number for the trust.)

Key Players & Entities

• Amplify Commodity Trust (company) — Registrant
• March 31, 2024 (date) — Quarterly period end date
• May 21, 2024 (date) — Filing date
• Delaware (location) — State of incorporation
• Lisle, IL (location) — Principal executive offices

FAQ

Key Financial Figures

• $47,639,662 — n-day yield as of March 31, 2024. (b) $47,639,662 and $2,903,406, respectively, of cash i
• $2,903,406 — f March 31, 2024. (b) $47,639,662 and $2,903,406, respectively, of cash is pledged as co
• $909,675 — nderlying Face Amount at Market Value - $909,675) (65 contracts) 2,030 2,030 Baltic
• $35,323,736 — n-day yield as of June 30, 2023. (b) $35,323,736 and $2,879,954, respectively, of cash i
• $2,879,954 — f June 30, 2023. (b) $35,323,736 and $2,879,954, respectively, of cash is pledged as co

Filing Documents

• ea0205741-10q_amplify.htm (10-Q) — 1100KB
• ea020574101ex31-1_amplify.htm (EX-31.1) — 11KB
• ea020574101ex31-2_amplify.htm (EX-31.2) — 11KB
• ea020574101ex32-1_amplify.htm (EX-32.1) — 4KB
• ea020574101ex32-2_amplify.htm (EX-32.2) — 4KB
• image_001.jpg (GRAPHIC) — 18KB
• image_002.jpg (GRAPHIC) — 17KB
• image_003.jpg (GRAPHIC) — 19KB
• image_004.jpg (GRAPHIC) — 19KB
• image_005.jpg (GRAPHIC) — 19KB
• image_006.jpg (GRAPHIC) — 29KB
• image_007.jpg (GRAPHIC) — 18KB
• image_008.jpg (GRAPHIC) — 17KB
• image_009.jpg (GRAPHIC) — 16KB
• image_010.jpg (GRAPHIC) — 17KB
• image_011.jpg (GRAPHIC) — 18KB
• image_012.jpg (GRAPHIC) — 17KB
• 0001213900-24-045347.txt ( ) — 5824KB
• bdry-20240331.xsd (EX-101.SCH) — 76KB
• bdry-20240331_cal.xml (EX-101.CAL) — 24KB
• bdry-20240331_def.xml (EX-101.DEF) — 232KB
• bdry-20240331_lab.xml (EX-101.LAB) — 427KB
• bdry-20240331_pre.xml (EX-101.PRE) — 216KB
• ea0205741-10q_amplify_htm.xml (XML) — 754KB

FINANCIAL INFORMATION

Part I. FINANCIAL INFORMATION 1

Interim Financial Statements

Item 1. Interim Financial Statements 1

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 35

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 53

Controls and Procedures

Item 4. Controls and Procedures 53

OTHER INFORMATION

Part II. OTHER INFORMATION 54

Legal Proceedings

Item 1. Legal Proceedings 54

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 54

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 55

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 55

Other Information

Item 5. Other Information 55

Exhibits

Item 6. Exhibits 55 i Part I. INTERIM FINANCIAL INFORMATION

Interim Financial Statements

Item 1. Interim Financial Statements.

Interim Financial Statements

Item 1. Interim Financial Statements. Index to Interim Financial Statements Documents Page Combined 2 Combined 3 Combined Schedules of Investments at March 31, 2024 (Unaudited) 4 Combined Schedules of Investments at June 30, 2023 5 Combined 6 Combined 7 Combined 8 Combined 9 Combined 10 Combined Statements of Changes in Net Assets (Unaudited) for the three months ended March 31, 2023 11 Combined 12 Combined 13 Combined 14 Combined 15 Notes to Interim Financial Statements 16 1 AMPLIFY COMMODITY TRUST Combined Statements of Assets and Liabilities March 31, 2024 (Unaudited) BREAKWAVE BREAKWAVE DRY BULK SHIPPING TANKER SHIPPING ETF ETF COMBINED Assets Investment in securities, at fair value (cost $ 13,705,154 and $ 395,389 , respectively) $ 13,705,154 $ 395,389 $ 14,100,543 Segregated cash held by broker 47,639,662 2,914,374 50,543,068 Receivable on open futures contracts 869,225 - 874,709 Interest receivable 45,615 3,351 48,966 Receivable for capital shares sold 673,250 - 673,250 Total assets 62,932,906 3,313,114 6

financial statements

financial statements. 3 AMPLIFY COMMODITY TRUST Schedules of Investments March 31, 2024 (Unaudited) BREAKWAVE BREAKWAVE DRY BULK SHIPPING ETF TANKER SHIPPING ETF COMBINED MONEY MARKET FUNDS - 22.0 % and 12.1 %, respectively Invesco Government & Agency Portfolio - Institutional Class, 5.29 % (a) ( 13,705,154 and 395,389 shares, respectively) $ 13,705,154 $ 395,389 $ 14,100,543 TOTAL MONEY MARKET FUNDS (Cost $ 13,705,154 and $ 395,389 , respectively) 13,705,154 395,389 14,100,543 Total Investments (Cost $ 13,705,154 and $ 395,389 , respectively) - 22.0 % and 12.1 %, respectively 13,705,154 395,389 14,100,543 Other Assets in Excess of Liabilities - 78.0 % and 87.9 %, respectively (b) 48,559,234 2,869,835 51,429,069 TOTAL NET ASSETS - 100.0 % and 100.0 %, respectively $ 62,264,388 $ 3,265,224 $ 65,529,612 (a) Annualized seven-day yield as of March 31, 2024. (b) $47,639,662 and $2,903,406, respectively, of cash is pledged as collateral for futures contracts. BREAKWAVE DRY BULK SHIPPING ETF Unrealized AMPLIFY Futures Contracts Appreciation/ COMMODITY March 31, 2024 (Depreciation) TRUST Baltic Capesize Time Charter Expiring April 30, 2024 (Underlying Face Amount at Market Value - $ 9,044,335 ) (365 contracts) $ ( 460,290 ) $ ( 460,290 ) Baltic Capesize Time Charter Expiring May 31, 2024 (Underlying Face Amount at Market Value - $ 10,286,430 ) (365 contracts) 781,805 781,805 Baltic Capesize Time Charter Expiring June 30, 2024 (Underlying Face Amount at Market Value - $ 10,299,570 ) (365 contracts) 794,945 794,945 Baltic Exchange Panamax T/C Average Shipping Route Index Expiring April 30, 2024 (Underlying Face Amount at Market Value - $ 8,078,895 ) (495 contracts) ( 169,855 ) ( 169,855 ) Baltic Exchange Panamax T/C Average Shipping Route Index Expiring May 31, 2024 (Underlying Face Amount at Market Value - $ 8,553,105 ) (495 contracts) 304,355 304,355 Baltic Exchange Panamax T/C Average S

financial statements

financial statements. 5 AMPLIFY COMMODITY TRUST Combined Statements of Operations Three Months Ended March 31, 2024 (Unaudited) BREAKWAVE DRY BULK BREAKWAVE TANKER SHIPPING ETF SHIPPING ETF COMBINED Investment Income Interest $ 372,645 $ 19,748 $ 392,393 Expenses Sponsor fee 31,119 12,446 43,565 CTA fee 196,218 21,196 217,414 Audit fees 21,323 11,870 33,193 Tax preparation fees 54,660 668 55,328 Admin/accounting/custodian/transfer agent fees 16,430 14,885 31,315 Legal fees 11,201 11,201 22,402 Chief Compliance Officer fees 6,220 6,220 12,440 Principal Financial Officer fees 6,220 6,220 12,440 Regulatory reporting fees 6,220 6,220 12,440 Brokerage commissions 117,892 76,663 194,555 Distribution fees 3,906 3,891 7,797 NJ Filing fees 33,608 ( 3,159 ) 30,449 Insurance expense 3,731 3,735 7,466 Listing and calculation agent fees 2,284 1,679 3,963 Marketing expenses 2,260 3,735 5,995 Other expenses 10,070 3,586 13,656 Wholesale support fees 22,451 5,436 27,887 Total Expenses 545,813 186,492 732,305 Less: Waiver of CTA fee - ( 21,196 ) ( 58,559 ) Less: Expenses absorbed by Sponsor - ( 37,363 ) Net Expenses 545,813 127,933 673,746 Net Investment Income (Loss) ( 173,168 ) ( 108,185 ) ( 281,353 ) Net Realized and Unrealized Gain (Loss) on Investment Activity Net Realized Gain (Loss) on Investments and futures contracts 31,148,394 861,391 32,009,785 Change in Unrealized Gain (Loss) on Investments and futures contracts ( 22,417,090 ) 78,426 ( 22,338,664 ) Net realized and unrealized gain (loss) 8,731,304 939,817 9,671,121 Net income (loss) $ 8,558,136 $ 831,632 $ 9,389,768 See accompanying notes to unaudited interim financial 6 AMPLIFY COMMODITY TRUST Combined Statements of Operations Three Months Ended March 31, 2023 (Unaudited) BREAKWAVE DRY BULK BREAKWAVE TANKER SHIPPING ETF SHIPPING ETF COMBIN

financial statements

financial statements. 8 AMPLIFY COMMODITY TRUST Combined Statements of Operations Nine Months Ended March 31, 2023 (Unaudited) BREAKWAVE DRY BULK BREAKWAVE TANKER SHIPPING ETF SHIPPING ETF COMBINED Investment Income Interest $ 622,222 $ - $ 622,222 Expenses Sponsor fee 96,345 - 96,345 CTA fee 556,351 - 556,351 Audit fees 64,559 - 64,559 Tax preparation fees 161,426 - 161,426 Admin/accounting/custodian/transfer agent fees 49,549 - 49,549 Legal fees 33,782 - 33,782 Chief Compliance Officer fees 18,766 - 18,766 Principal Financial Officer fees 18,766 - 18,766 Regulatory reporting fees 18,766 - 18,766 Brokerage commissions 472,373 - 472,373 Distribution fees 11,790 - 11,790 NJ Filing fees 112,326 - 112,326 Insurance expense 11,261 - 11,261 Listing and calculation agent fees 6,908 - 6,908 Marketing expenses 27,026 - 27,026 Other expenses 11,261 - 11,261 Website Support and Marketing Materials 7,883 - 7,883 Printing and Postage 11,334 - 11,334 Wholesale support fees 59,551 - 59,551 Interest expense 1,561 1,561 Total Expenses 1,751,584 - 1,751,584 Less: Waiver of CTA fee ( 88,078 ) - ( 88,078 ) Less: Expenses absorbed by Sponsor - - - Net Expenses 1,663,506 - 1,663,506 Net Investment Income (Loss) ( 1,041,284 ) - ( 1,041,284 ) Net Realized and Unrealized Gain (Loss) on Investment Activity Net Realized Gain (Loss) on Investments and futures contracts ( 22,801,043 ) - ( 22,801,043 ) Change in Unrealized Gain (Loss) on Investments and futures contracts 29,454,117 - 29,454,117 Net realized and unrealized gain (loss) 6,653,074 - 6,653,074 Net income (loss) $ 5,611,790 $ - $ 5,611,790 See accompanying notes to unaudited interim financial 9 AMPLIFY COMMODITY TRUST Combined Statements of Changes in Net Assets Three Months Ended March 31, 2024 (Unaudited) BREAKWAVE DRY BULK BREAKWAVE TANKER

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