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Invesco DB Commodity Index Tracking Fund
DBC

239 hedge funds and large institutions have $882M invested in Invesco DB Commodity Index Tracking Fund in 2023 Q4 according to their latest regulatory filings, with 36 funds opening new positions, 60 increasing their positions, 95 reducing their positions, and 33 closing their positions.

New
Increased
Maintained
Reduced
Closed

150% more call options, than puts

Call options by funds: $12M | Put options by funds: $4.79M

9% more first-time investments, than exits

New positions opened: 36 | Existing positions closed: 33

0.2% less ownership

Funds ownership: 46.03% → 45.83% (-0.2%)

0% less funds holding

Funds holding: 240 → 239 (-1)

13% less capital invested

Capital invested by funds: $1.01B → $882M (-$127M)

29% less funds holding in top 10

Funds holding in top 10: 7 → 5 (-2)

37% less repeat investments, than reductions

Existing positions increased: 60 | Existing positions reduced: 95

Holders
239
Holders Change
-1
Holders Change %
-0.42%
% of All Funds
3.48%
Holding in Top 10
5
Holding in Top 10 Change
-2
Holding in Top 10 Change %
-28.57%
% of All Funds
0.07%
New
36
Increased
60
Reduced
95
Closed
33
Calls
$12M
Puts
$4.79M
Net Calls
+$7.19M
Net Calls Change
-$2.9M

Top Buyers

1
Morgan Stanley
Morgan Stanley
New York
+$80.4M
2
JP Morgan Chase
JP Morgan Chase
New York
+$17.3M
3
Goldman Sachs
Goldman Sachs
New York
+$9.56M
4
Jane Street
Jane Street
New York
+$9.32M
5
FHC
First Heartland Consultants
Missouri
+$7.44M

Top Sellers

1
IGAM
iA Global Asset Management
Quebec, Canada
-$25.2M
2
MSAM
Moloney Securities Asset Management
Missouri
-$19.5M
3
EC
Estate Counselors
Wisconsin
-$16.6M
4
Deutsche Bank
Deutsche Bank
Germany
-$10.2M
5
AAM
Augustine Asset Management
Florida
-$9.38M
Name Holding Trade Value Shares
Change 		Change in
Stake
Morgan Stanley
1
Morgan Stanley
New York
$176M +$80.4M +3,364,554 +73%
Wells Fargo
2
Wells Fargo
California
$109M -$4.35M -182,189 -4%
Bank of America
3
Bank of America
North Carolina
$105M -$5.86M -245,259 -5%
Deutsche Bank
4
Deutsche Bank
Germany
$88.3M -$10.2M -425,942 -10%
LMIM
5
Lockheed Martin Investment Management
Maryland
$39.4M – – –
HS
6
HighVista Strategies
Massachusetts
$31.7M – – –
SCM
7
SCS Capital Management
Massachusetts
$21.9M -$120K -5,031 -0.5%
JP Morgan Chase
8
JP Morgan Chase
New York
$21.3M +$17.3M +724,666 +297%
LPL Financial
9
LPL Financial
California
$17M +$2.63M +110,033 +17%
Envestnet Asset Management
10
Envestnet Asset Management
Illinois
$15.5M +$3.45M +144,374 +26%
Ameriprise
11
Ameriprise
Minnesota
$14.6M +$6.12M +256,136 +63%
Northwestern Mutual Wealth Management
12
Northwestern Mutual Wealth Management
Wisconsin
$13.3M -$3.93M -164,649 -21%
Creative Planning
13
Creative Planning
Kansas
$12.5M -$129K -5,382 -0.9%
Jane Street
14
Jane Street
New York
$12M +$9.32M +390,096 +253%
PWM
15
Palumbo Wealth Management
New York
$11M +$1.27M +53,341 +12%
Goldman Sachs
16
Goldman Sachs
New York
$9.69M +$9.56M +399,961 +1,011%
Victory Capital Management
17
Victory Capital Management
Texas
$9.3M – – –
CI
18
Cordant Inc
Oregon
$7.72M +$390K +16,318 +5%
FHC
19
First Heartland Consultants
Missouri
$6.86M +$7.44M +311,353 New
UBS Group
20
UBS Group
Switzerland
$6.75M +$116K +4,839 +2%
AWA
21
Arkadios Wealth Advisors
Georgia
$5.7M +$240K +10,066 +4%
Mackenzie Financial
22
Mackenzie Financial
Ontario, Canada
$5.28M +$1.32M +55,353 +30%
KeyBank National Association
23
KeyBank National Association
Ohio
$4.76M +$1.3M +54,453 +34%
SL
24
Systelligence LLC
Minnesota
$4.3M +$406K +17,010 +10%
OWM
25
Olympus Wealth Management
Utah
$3.95M -$1.25M -52,412 -23%
1
2 3 4 5

DBC Hedge Fund Activity: Q4 2023 in Review

239 of the 6,859 institutional investors tracked by Wall St. Rank reported a position in Invesco DB Commodity Index Tracking Fund (DBC) for Q4 2023, worth a combined $882M — down 13% from $1.01B a quarter earlier.

Buyers outnumbered sellers: 36 funds opened new DBC positions and 33 closed out — a net gain of 3 holders — while 60 added to existing stakes and 95 trimmed.

The largest buyer was Morgan Stanley, adding an estimated $80.4M. The largest seller was iA Global Asset Management, exiting entirely with an estimated $25.2M sold.

  • 239 institutional investors held Invesco DB Commodity Index Tracking Fund (DBC) as of Q4 2023, down from 240 in Q3 2023.
  • Funds reported $882M of Invesco DB Commodity Index Tracking Fund stock for Q4 2023, down 13% quarter-over-quarter.
  • 36 funds opened new Invesco DB Commodity Index Tracking Fund positions in Q4 2023 and 33 closed out, a net change of +3 holders.
  • The largest Invesco DB Commodity Index Tracking Fund buyer in Q4 2023 was Morgan Stanley, an estimated $80.4M added.
  • The largest Invesco DB Commodity Index Tracking Fund seller in Q4 2023 was iA Global Asset Management, an estimated $25.2M sold.

Based on aggregated 13F filings for Q4 2023.