iShares S&P GSCI Commodity Trust Q1 2024 Filing

TL;DR

GSG Q1 2024: Assets $1.017B, Net Assets $971.7M. Share prices hovered around $5.33-$5.50.

AI Summary

The iShares S&P GSCI Commodity-Indexed Trust filed its 10-Q for the period ending March 31, 2024. The Trust reported total assets of $1,016,940,948 and net assets of $971,687,389 as of March 31, 2024. The filing details various price points for the Trust's shares throughout the first quarter of 2024, with prices generally fluctuating between $5.33 and $5.50.

Why It Matters

This filing provides a snapshot of the iShares S&P GSCI Commodity-Indexed Trust's financial position and share price movements during the first quarter of 2024, offering insights into the performance of a broad-based commodity index.

Risk Assessment

Risk Level: medium — Commodity-indexed trusts are subject to market volatility and the performance of underlying commodities, which can be unpredictable.

Key Numbers

• $1.017B — Total Assets (As of March 31, 2024, indicating the total value of assets held by the trust.)
• $971.7M — Net Assets (As of March 31, 2024, representing the value available to shareholders after liabilities.)
• $5.33 - $5.50 — Share Price Range (Observed fluctuations in the Trust's share price during Q1 2024.)

Key Players & Entities

• iShares S&P GSCI Commodity-Indexed Trust (company) — Filer of the 10-Q
• 0001332174 (company) — Central Index Key for the Trust
• 1,016,940,948 (dollar_amount) — Total assets as of March 31, 2024
• 971,687,389 (dollar_amount) — Net assets as of March 31, 2024
• 20240331 (date) — End of the reporting period

FAQ

Key Financial Figures

• $979,915,066 — (a) Cost of short-term investments: $979,915,066 and $903,420,311, respectively. (b)
• $903,420,311 — hort-term investments: $979,915,066 and $903,420,311, respectively. (b) Cost of short-ter
• $37,025,882 — tments held at the broker (restricted): $37,025,882 and $68,267,078, respectively. (c) N
• $68,267,078 — he broker (restricted): $37,025,882 and $68,267,078, respectively. (c) No par value, unl

Filing Documents

• gsg20240331_10q.htm (10-Q) — 615KB
• ex_653051.htm (EX-31.1) — 12KB
• ex_653050.htm (EX-31.2) — 12KB
• ex_653049.htm (EX-32.1) — 6KB
• ex_653048.htm (EX-32.2) — 6KB
• 0001437749-24-015394.txt ( ) — 3574KB
• gsg-20240331.xsd (EX-101.SCH) — 43KB
• gsg-20240331_cal.xml (EX-101.CAL) — 22KB
• gsg-20240331_def.xml (EX-101.DEF) — 193KB
• gsg-20240331_lab.xml (EX-101.LAB) — 183KB
• gsg-20240331_pre.xml (EX-101.PRE) — 218KB
• gsg20240331_10q_htm.xml (XML) — 612KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) 1 1 2 3 5 Schedules of Investments at March 31, 2024 and December 31, 2023 6

Notes to Financial Statements

Notes to Financial Statements 8 Item 2. Management ' s Discussion and Analysis of Financial Condition and Results of Operations 13 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 15 Item 4.

Controls and Procedures

Controls and Procedures 15

– OTHER INFORMATION

PART II – OTHER INFORMATION 16 Item 1.

Legal Proceedings

Legal Proceedings 16 Item 1A.

Risk Factors

Risk Factors 16 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 16 Item 3. Defaults Upon Senior Securities 16 Item 4. Mine Safety Disclosures 16 Item 5. Other Information 16 Item 6. Exhibits 17

SIGNATURES

SIGNATURES 18 Table of Contents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements iShares S&P GSCI Commodity-Indexed Trust At March 31, 2024 and December 31, 2023 March 31, 2024 December 31, 2023 Assets Cash $ 2,985,274 $ 2,435,084 Short-term investments, at fair value (a) 979,917,620 903,814,706 Short-term investments held at the broker (restricted), at fair value (b) 37,024,934 68,298,743 Receivable for variation margin on open futures contracts (Note 9) 15,193,076 — Total Assets 1,035,120,904 974,548,533 Liabilities Sponsor's fees payable 631,014 623,642 Payable for variation margin on open futures contracts (Note 9) — 5,873,212 Total Liabilities 631,014 6,496,854 Commitments and contingent liabilities (Note 7) — — Net Assets $ 1,034,489,890 $ 968,051,679 Shares issued and outstanding (c) 46,800,000 48,200,000 Net asset value per Share (Note 2G) $ 22.10 $ 20.08 (a) Cost of short-term investments: $979,915,066 and $903,420,311, respectively. (b) Cost of short-term investments held at the broker (restricted): $37,025,882 and $68,267,078, respectively. (c) No par value, unlimited amount authorized. See notes to financial statements. 1 Table of Contents iShares S&P GSCI Commodity-Indexed Trust For the three months ended March 31, 2024 and 2023 Three Months Ended March 31, 2024 2023 Investment Income Interest $ 13,015,780 $ 12,440,489 Total investment income 13,015,780 12,440,489 Expenses Sponsor's fees 1,785,101 2,092,414 Brokerage commissions and fees 233,599 237,950 Total expenses 2,018,700 2,330,364 Net Investment income 10,997,080 10,110,125 Net Realized and Unrealized Gain (Loss) Net realized gain (loss) from: Short-term investments 215 14,130 Futures contracts 57,205,070 ( 603,286 ) Net realized gain (loss) 57,205,285 ( 589,156 ) Net change in unrealized appreciation/depreciation on: Sho

Notes to Financial Statements (Unaudited)

Notes to Financial Statements (Unaudited) March 31, 2024 1 - Organization The iShares S&P GSCI Commodity-Indexed Trust (the "Trust") is a Delaware statutory trust that was organized under the laws of the State of Delaware on July 7, 2006 and commenced operations on July 10, 2006. iShares Delaware Trust Sponsor LLC, a Delaware limited liability company, is the sponsor of the Trust (the "Sponsor"). The sole member and manager of the Sponsor is BlackRock Asset Management International Inc., a Delaware corporation. BlackRock Institutional Trust Company, N.A. is the trustee of the Trust (the "Trustee"). The Trust is governed by the Fourth Amended and Restated Trust Agreement, dated as of March 31, 2022 ( the "Trust Agreement"), among the Sponsor, the Trustee and Wilmington Trust Company (the "Delaware Trustee"). The Trust issues units of beneficial interest ("Shares") representing fractional undivided beneficial interests in its net assets. The Trust holds long positions in exchange-traded index futures contracts of various expirations ("Index Futures") on the S&P GSCI Excess Return Index ("S&P GSCIER"). In order to collateralize its Index Futures positions and to reflect the U.S. Treasury component of the S&P GSCI Total Return Index (the "Index"), the Trust also holds "Collateral Assets," which consist of cash, U.S. Treasury securities or other short-term securities and similar securities that are eligible as margin deposits for those Index Futures positions. The Index Futures held by the Trust are listed on the Chicago Mercantile Exchange (the "CME"). The Trust seeks to track the results of a fully collateralized investment in futures contracts on an index composed of a diversified group of commodity futures. The Trust seeks to track the investment returns of the Index before payment of the Trust's expenses and liabilities. The Trust is a commodity pool, as defined in the Commodity Exchange Act (the "CEA") and the applicable regulations of the Commodity Future

View Full Filing

View this 10-Q filing on SEC EDGAR