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Invesco DB Commodity Index Tracking Fund
DBC

203 hedge funds and large institutions have $1.12B invested in Invesco DB Commodity Index Tracking Fund in 2015 Q4 according to their latest regulatory filings, with 38 funds opening new positions, 58 increasing their positions, 68 reducing their positions, and 34 closing their positions.

New
Increased
Maintained
Reduced
Closed

12% more first-time investments, than exits

New positions opened: 38 | Existing positions closed: 34

2.41% more ownership

Funds ownership: 52.87% → 55.28% (+2.4%)

2% more funds holding

Funds holding: 200 → 203 (+3)

8% more call options, than puts

Call options by funds: $2.19M | Put options by funds: $2.03M

0% more funds holding in top 10

Funds holding in top 10: 6 → 6 (0)

13% less capital invested

Capital invested by funds: $1.28B → $1.12B (-$163M)

15% less repeat investments, than reductions

Existing positions increased: 58 | Existing positions reduced: 68

Holders
203
Holders Change
+3
Holders Change %
+1.5%
% of All Funds
5.33%
Holding in Top 10
6
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.16%
New
38
Increased
58
Reduced
68
Closed
34
Calls
$2.19M
Puts
$2.03M
Net Calls
+$157K
Net Calls Change
-$487K

Top Buyers

1
PI
PineBridge Investments
New York
+$60M
2
Morgan Stanley
Morgan Stanley
New York
+$36.3M
3
COPPSERS
Commonwealth of Pennsylvania Public School Employees Retirement System
Pennsylvania
+$26.3M
4
EA
Evanston Advisors
Illinois
+$12.8M
5
BCI
Brinker Capital Investments
Pennsylvania
+$7.93M

Top Sellers

1
PCA
Personal Capital Advisors
California
-$28.6M
2
JP Morgan Chase
JP Morgan Chase
New York
-$27.5M
3
IG
ING Group
Netherlands
-$27.3M
4
HCC
Hirtle Callaghan & Co
Pennsylvania
-$26.3M
5
Wells Fargo
Wells Fargo
California
-$14.4M
Name Holding Trade Value Shares
Change 		Change in
Stake
Bank of America
1
Bank of America
North Carolina
$261M -$5.58M -385,524 -2%
Wells Fargo
2
Wells Fargo
California
$167M -$14.4M -996,770 -7%
Morgan Stanley
3
Morgan Stanley
New York
$106M +$36.3M +2,507,753 +46%
COPPSERS
4
Commonwealth of Pennsylvania Public School Employees Retirement System
Pennsylvania
$58.2M +$26.3M +1,818,412 +72%
PI
5
PineBridge Investments
New York
$55.4M +$60M +4,148,290 New
Northern Trust
6
Northern Trust
Illinois
$48.3M +$2.23M +153,825 +4%
USAA
7
United Services Automobile Association
Texas
$38.8M +$2.68M +185,000 +7%
State of New Jersey Common Pension Fund D
8
State of New Jersey Common Pension Fund D
New Jersey
$36.1M – – –
WCM
9
Windham Capital Management
Massachusetts
$34.8M +$4.16M +287,591 +12%
Envestnet Asset Management
10
Envestnet Asset Management
Illinois
$29M -$13.4M -924,446 -30%
UBS Group
11
UBS Group
Switzerland
$23.5M +$219K +15,141 +0.9%
PAS
12
Park Avenue Securities
New York
$22.1M +$1.03M +71,162 +4%
State Street
13
State Street
Massachusetts
$15.8M -$3.57M -246,741 -17%
EA
14
Evanston Advisors
Illinois
$12.2M +$12.8M +885,295 +3,457%
First Eagle Investment Management
15
First Eagle Investment Management
New York
$11.4M – – –
DCC
16
Dow Chemical Company
Michigan
$10.4M – – –
FWM
17
FFT Wealth Management
Pennsylvania
$9.28M +$10.1M +694,890 New
M&T Bank
18
M&T Bank
New York
$9.11M -$7.11M -491,257 -42%
BCI
19
Brinker Capital Investments
Pennsylvania
$8.16M +$7.93M +548,333 +876%
JP Morgan Chase
20
JP Morgan Chase
New York
$7.63M -$27.5M -1,901,689 -77%
FEG
21
Fund Evaluation Group
Ohio
$6.95M -$1.41M -97,786 -18%
CC
22
Curian Capital
Colorado
$6.39M -$11.9M -820,360 -63%
Creative Planning
23
Creative Planning
Kansas
$6.31M -$11.3K -782 -0.2%
Susquehanna International Group
24
Susquehanna International Group
Pennsylvania
$6.25M +$2.19M +151,650 +48%
EA
25
Euclid Advisors
Connecticut
$5.5M -$2.33M -161,000 -28%
1
2 3 4 5

DBC Hedge Fund Activity: Q4 2015 in Review

203 of the 3,812 institutional investors tracked by Wall St. Rank reported a position in Invesco DB Commodity Index Tracking Fund (DBC) for Q4 2015, worth a combined $1.12B — down 13% from $1.28B a quarter earlier.

Buyers outnumbered sellers: 38 funds opened new DBC positions and 34 closed out — a net gain of 4 holders — while 58 added to existing stakes and 68 trimmed.

The largest buyer was PineBridge Investments, opening a new position worth an estimated $60M. The largest seller was Personal Capital Advisors, cutting an estimated $28.6M.

  • 203 institutional investors held Invesco DB Commodity Index Tracking Fund (DBC) as of Q4 2015, up from 200 in Q3 2015.
  • Funds reported $1.12B of Invesco DB Commodity Index Tracking Fund stock for Q4 2015, down 13% quarter-over-quarter.
  • 38 funds opened new Invesco DB Commodity Index Tracking Fund positions in Q4 2015 and 34 closed out, a net change of +4 holders.
  • The largest Invesco DB Commodity Index Tracking Fund buyer in Q4 2015 was PineBridge Investments, an estimated $60M added.
  • The largest Invesco DB Commodity Index Tracking Fund seller in Q4 2015 was Personal Capital Advisors, an estimated $28.6M sold.

Based on aggregated 13F filings for Q4 2015.