Invesco DB Precious Metals Fund filed its quarterly report on Form 10-Q for the period ended September 30, 2026, disclosing a net loss for the nine-month period alongside a decline in shares outstanding and total shareholders' equity.

Key Highlights

  • Shares outstanding fell to 2,300,000 as of September 30, 2026, down from 2,500,000 at December 31, 2025, according to the filing.
  • Net asset value per share was $95.41 at September 30, 2026, compared to $103.02 at December 31, 2025, the filing stated.
  • Total shareholders' equity declined to $219,439,498 at September 30, 2026, from $257,543,648 at December 31, 2025, the filing disclosed.
  • Net loss for the nine months ended September 30, 2026 was $20,845,919, compared to net income of $70,572,550 for the same period in 2025, per the filing.
  • Net investment income for the nine months was $5,944,099, up from $4,699,919 in the nine months ended September 30, 2025, according to the filing.
  • Open commodity futures contracts at September 30, 2026 showed total unrealized depreciation of $3,959,115 across COMEX Gold, COMEX Platinum, and COMEX Silver positions, as reported in the filing.

Fund Performance and Portfolio Position for the Quarter Ended September 30, 2026

According to the filing, Invesco DB Precious Metals Fund (NYSE Arca:DBP), a series of Invesco DB Multi-Sector Commodity Trust, reported total assets of $219,564,986 at September 30, 2026, down from $257,693,833 at December 31, 2025. Total liabilities were $125,488 at the end of the quarter, consisting entirely of management fees payable, the filing noted. The market value per share was reported as $95.46 at September 30, 2026, compared to $102.78 at December 31, 2025.

For the three months ended September 30, 2026, the filing reported net income of $6,250,555, driven in part by a net change in unrealized gain on commodity futures contracts of $3,406,606 for that quarter. For the nine months ended September 30, 2026, however, the fund recorded a net loss of $20,845,919, which the filing attributed largely to a net change in unrealized loss on commodity futures contracts of $33,810,277. Total income for the nine-month period was $7,349,176, while net expenses after waivers were $1,405,077, the filing disclosed.

The filing showed that the fund's affiliated investments at September 30, 2026 totaled $204,091,591 at value, against a cost of $204,071,981, and consisted of the Invesco Short Term Treasury ETF valued at $21,523,684 and the Invesco Government and Agency Portfolio, Institutional Class, valued at $182,567,907. The fund's open long futures positions at September 30, 2026 included 402 COMEX Gold contracts expiring December 2026 with a notional value of $168,305,340, 144 COMEX Platinum contracts expiring July 2027 with a notional value of $12,666,960, and 125 COMEX Silver contracts expiring December 2026 with a notional value of $37,853,750, the filing stated.

What Was Disclosed

The fund filed an unaudited quarterly report covering the period ended September 30, 2026, disclosing a nine-month net loss of $20,845,919, a decrease in shares outstanding from 2,500,000 to 2,300,000, a net asset value per share of $95.41, and aggregate unrealized depreciation of $3,959,115 on open commodity futures contracts.