Invesco DB Base Metals Fund filed its Form 10-Q for the quarterly period ended September 30, 2026, with the SEC on November 6, 2026, reporting total shareholders' equity of $344,022,894 and a net asset value per share of $25.30.

Key Highlights

  • Shares outstanding: 13,600,000 as of September 30, 2026, up from 8,850,000 at December 31, 2025.
  • Net asset value per share: $25.30 at September 30, 2026, compared to $22.88 at December 31, 2025.
  • Total assets: $352,248,467 at September 30, 2026, versus $202,819,354 at December 31, 2025.
  • Nine-month net income: $22,725,542 for the nine months ended September 30, 2026, compared to $8,967,496 for the same period in 2025.
  • Nine-month net realized gain on commodity futures: $26,975,306 for the nine months ended September 30, 2026, versus a loss of $4,757,303 for the same period in 2025.
  • Affiliated investment yield: Invesco Government and Agency Portfolio, Institutional Class, carried a 7-day SEC standardized yield of 3.81% as of September 30, 2026.

Invesco DB Base Metals Fund Financial Position and Results for the September 2026 Quarter

According to the filing, Invesco DB Base Metals Fund (NYSE Arca:DBB), a series of Invesco DB Multi-Sector Commodity Trust managed by Invesco Capital Management LLC, reported total assets of $352,248,467 as of September 30, 2026. Affiliated investments, consisting of the Invesco Government and Agency Portfolio, Institutional Class, were valued at $315,461,972, representing 91.70% of shareholders' equity. Total liabilities were $8,225,573, leaving total shareholders' equity of $344,022,894. Market value per share was reported as $25.29, one cent below the net asset value per share of $25.30.

The fund's open commodity futures positions at September 30, 2026 spanned COMEX Copper, LME Aluminum, LME Copper, LME Lead, LME Nickel, and LME Zinc, with total net unrealized appreciation across all contracts of $6,900,764, the filing disclosed. For the three months ended September 30, 2026, the fund reported net income of $17,667,310, compared to $6,925,269 for the same quarter in 2025. Net investment income for the three-month period was $2,591,225, while net change in unrealized gain on commodity futures contracts was $14,349,493 for the quarter.

For the nine months ended September 30, 2026, total income reached $8,541,585, with dividends from affiliates contributing $7,911,858 of that amount, according to the filing. Net expenses for the nine-month period were $1,741,447 after waivers of $216,620. The fund reported net change in unrealized loss on commodity futures of $11,049,902 for the nine months ended September 30, 2026, partially offsetting the net realized gain of $26,975,306 on futures contracts over the same span.

What Was Disclosed

Invesco DB Base Metals Fund's 10-Q for the quarter ended September 30, 2026 disclosed balance sheet data, income and expense figures, and open futures positions across six base metals contracts, with shares outstanding increasing from 8,850,000 to 13,600,000 since year-end 2025.