Invesco DB Commodity Index Tracking Fund Files 10-Q for Q1 2024

TL;DR

<b>Invesco DB Commodity Index Tracking Fund reports Q1 2024 results, highlighting commodity futures and U.S. Treasury holdings.</b>

AI Summary

Invesco DB Commodity Index Tracking Fund (DBC) filed a Quarterly Report (10-Q) with the SEC on May 8, 2024. The Invesco DB Commodity Index Tracking Fund filed its 10-Q for the period ending March 31, 2024. The filing details various commodity futures contracts, including wheat, corn, and crude oil. The fund holds U.S. Treasury Bills with a 5.240% yield due June 6, 2024. Affiliated investments and U.S. Government Corporations and Agencies Securities are noted as of March 31, 2024. The fund's structure includes General Partner and Limited Partner interests.

Why It Matters

For investors and stakeholders tracking Invesco DB Commodity Index Tracking Fund, this filing contains several important signals. The 10-Q filing provides a detailed look into the fund's holdings and performance for the first quarter of 2024, crucial for investors tracking commodity markets. Understanding the fund's exposure to various futures contracts and affiliated investments is key to assessing its risk and return profile.

Risk Assessment

Risk Level: — Invesco DB Commodity Index Tracking Fund shows moderate risk based on this filing. The risk is low as the filing is a standard quarterly report for a well-established commodity index fund, with no immediate red flags or significant negative disclosures.

Analyst Insight

Investors should review the specific commodity futures and affiliated investments detailed in the 10-Q to understand the fund's current market exposure and potential risks.

Key Numbers

• 2024-03-31 — Reporting Period End Date (10-Q Filing)
• 2024-05-08 — Filing Date (10-Q Filing)
• 5.240% — Yield on U.S. Treasury Bills (Investment Detail)
• June 6, 2024 — Maturity Date of U.S. Treasury Bills (Investment Detail)

Key Players & Entities

• Invesco DB Commodity Index Tracking Fund (company) — Filer
• DBC (company) — Ticker Symbol
• U.S. Treasury Bills (company) — Investment Holding
• 2024-03-31 (date) — Reporting Period End Date
• 2024-05-08 (date) — Filing Date
• 5.240% (dollar_amount) — Yield on U.S. Treasury Bills
• June 6, 2024 (date) — Maturity Date of U.S. Treasury Bills
• 3500 LACEY ROAD (company) — Business Address

FAQ

Risk Factors

• Commodity Futures Exposure [medium — financial]: The fund holds various commodity futures contracts, including wheat, corn, and crude oil, exposing it to price volatility in these markets.

Industry Context

The Invesco DB Commodity Index Tracking Fund invests in a diversified portfolio of commodity futures contracts, aiming to track the performance of a broad commodity index.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies and funds to disclose material information to investors.

What Investors Should Do

1. Analyze the specific commodity futures contracts held by the fund and their associated risks.
2. Review the details of affiliated investments and their impact on the fund's overall performance.
3. Assess the fund's exposure to U.S. Treasury obligations and their yield/maturity dates.

Key Dates

• 2024-03-31: Quarterly Period End — End of reporting period for the 10-Q
• 2024-05-08: Filing Date — Date the 10-Q was officially filed with the SEC

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC) that provides a comprehensive update on a company's financial performance. (Provides key financial and operational details for the Invesco DB Commodity Index Tracking Fund for the specified quarter.)

Commodity Futures Contract

A standardized contract to buy or sell a specific commodity at a predetermined price on a future date. (Represents a core holding of the Invesco DB Commodity Index Tracking Fund, indicating its investment strategy and exposure to commodity markets.)

Year-Over-Year Comparison

This is the first 10-Q filing for the period ending March 31, 2024, following the previous 10-K annual report.

Filing Documents

• dbc-20240331.htm (10-Q) — 1478KB
• dbc-ex31_1.htm (EX-31.1) — 14KB
• dbc-ex31_2.htm (EX-31.2) — 14KB
• dbc-ex32_1.htm (EX-32.1) — 8KB
• dbc-ex32_2.htm (EX-32.2) — 8KB
• img113956297_0.jpg (GRAPHIC) — 170KB
• img113956297_1.jpg (GRAPHIC) — 160KB
• 0000950170-24-054964.txt (&nbsp;) — 6166KB
• dbc-20240331.xsd (EX-101.SCH) — 642KB
• dbc-20240331_htm.xml (XML) — 972KB

Financial Statements

Financial Statements 1 Notes to Unaudited Financial Statements 8 ITEM 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 18 ITEM 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 27 ITEM 4.

Controls and Procedures

Controls and Procedures 30 PART II. OTHER INFORMATION 30 Item 1.

Legal Proceedings

Legal Proceedings 30 Item 1A.

Risk Factors

Risk Factors 30 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 30 Item 3. Defaults Upon Senior Securities 30 Item 4. Mine Safety Disclosures 30 Item 5. Other Information 31 Item 6. Exhibits 31

FIN ANC IAL INFORMATION

PART I. FIN ANC IAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS. Invesco DB Commodity Index Tracking Fund March 31, 2024 and December 31, 2023 (Unaudited) March 31, December 31, 2024 2023 Assets United States Treasury Obligations, at value (cost $ 693,785,719 and $ 783,578,544 , respectively) $ 693,874,499 $ 784,350,648 Affiliated investments, at value (cost $ 1,008,374,899 and $ 907,765,903 , respectively) 1,008,453,788 908,120,125 Other investments: Variation margin receivable- Commodity Futures Contracts 20,276,485 — Unrealized appreciation on LME Commodity Futures Contracts 887,344 4,964,271 Receivable for: Dividends from affiliates 3,379,368 3,716,526 Total assets $ 1,726,871,484 $ 1,701,151,570 Liabilities Other investments: Variation margin payable- Commodity Futures Contracts $ — $ 9,665,016 LME Commodity Futures Contracts payable 4,949,657 4,456,438 Unrealized depreciation on LME Commodity Futures Contracts 3,954,953 1,777,646 Payable for: Distributions — 599,093 Management fees 1,134,252 1,216,569 Brokerage commissions and fees 4,671 4,452 Total liabilities 10,043,533 17,719,214 Commitments and Contingencies (Note 10) Equity Shareholder's equity—General Shares 919 882 Shareholders' equity—Shares 1,716,827,032 1,683,431,474 Total shareholders' equity 1,716,827,951 1,683,432,356 Total liabilities and equity $ 1,726,871,484 $ 1,701,151,570 General Shares outstanding 40 40 Shares outstanding 74,700,000 76,350,000 Net asset value per share $ 22.98 $ 22.05 Market value per share $ 22.97 $ 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 March 31, 2024 (Unaudited) Description Percentage of Shareholders' Equity Value Principal Val

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View this 10-Q filing on SEC EDGAR