Principal
Value
U.S.
Treasury
Bills
–
88.9%
U.S.
Treasury
Bill,
5.33%,
10/3/2023(a)
............................................
$
23,500,000
$
23,496,578
U.S.
Treasury
Bill,
5.43%,
12/21/2023(a)
...........................................
10,004,000
9,886,092
U.S.
Treasury
Bill,
5.43%,
1/11/2024(a)
............................................
78,000,000
76,841,551
U.S.
Treasury
Bill,
5.54%,
3/28/2024(a)
............................................
2,700,000
2,629,100
Total
U.S.
Treasury
Bills
(Cost
$112,840,314)
.....................................................
112,853,321
Total
Investments
–
88.9%
(Cost
$112,840,314)
.........................................................................
$
112,853,321
Other
Assets
in
Excess
of
Liabilities
–
11.1%
........................................................
14,161,634
Net
Assets
–
100.0%
..........................................................................
$
127,014,955
(a)
Represents
a
zero
coupon
bond.
Rate
shown
reflects
the
effective
yield.
At
September
30,
2023,
open
futures
contracts
were
as
follows:
Number
of
Contracts
Notional
Value
Expiration
Date
Value/
Unrealized
Appreciation
(Depreciation)
Long
position
contracts:
WTI
Crude
Future
................................
50
$
4,539,500
10/20/23
$
144,586
Live
Cattle
Future
................................
6
442,080
10/31/23
(4,478)
WTI
Crude
Future
................................
31
2,752,800
11/20/23
255,407
Cotton
No.
2
Future
...............................
27
1,176,525
12/6/23
2,815
CAN
10
Year
Bond
Future
.........................
27
2,288,614
12/18/23
13,227
WTI
Crude
Future
................................
15
1,304,700
12/19/23
104,628
Live
Cattle
Future
................................
452
33,976,840
12/29/23
(163,878)
WTI
Crude
Future
................................
28
2,387,560
1/22/24
296,126
WTI
Crude
Future
................................
52
4,361,760
2/20/24
228,745
Live
Cattle
Future
................................
129
9,933,000
2/29/24
(61,271)
Sugar
#11
(World)
Future
..........................
545
16,163,392
2/29/24
(225,281)
Cotton
No.
2
Future
...............................
4
175,840
3/6/24
(7)
WTI
Crude
Future
................................
34
2,814,520
3/20/24
103,129
WTI
Crude
Future
................................
18
1,473,840
4/22/24
8,561
Sugar
#11
(World)
Future
..........................
183
5,177,290
4/30/24
16,509
WTI
Crude
Future
................................
25
2,028,000
5/21/24
(55,099)
Sugar
#11
(World)
Future
..........................
9
244,944
6/28/24
(161)
Total
unrealized
appreciation/(depreciation)
$
663,558
Short
position
contracts:
Natural
Gas
Future
...............................
(36)
(1,054,440)
10/27/23
3,911
Natural
Gas
Future
...............................
(55)
(1,821,600)
11/28/23
27,458
Soybean
Oil
Future
...............................
(383)
(12,829,734)
12/14/23
784,091
Wheat
Future
(CBT)
..............................
(193)
(5,225,475)
12/14/23
570,302
Bank
Accept
Future
...............................
(657)
(114,095,251)
12/18/23
55,421
Gold
100
OZ
Future
..............................
(224)
(41,800,640)
12/27/23
456,613
Silver
Future
....................................
(74)
(8,306,500)
12/27/23
220,702
Natural
Gas
Future
...............................
(52)
(1,853,800)
12/27/23
35,309
Copper
Future
...................................
(211)
(19,715,313)
12/27/23
(323,316)
