Vault-13

INVESCO DB COMMDY INDX TRCK DBC

UNIT · ETP · CUSIP 46138B103

210 institutional holders +18 vs Q3 2025
22,693,94522.7m shares reported held*
$508.2mreported value*
24 new 69 added 55 reduced 14 sold out net bought ≈ $8.9m (+390.0k shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Implied quarter-end price ≈ $22.39. Options: 6 managers hold calls ($4.6m notional), 3 hold puts ($2.5m).

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

0200400Q3 22: 307Q4 22: 291Q1 23: 247Q2 23: 234Q3 23: 242Q4 23: 240Q1 24: 221Q2 24: 220Q3 24: 203Q4 24: 215Q1 25: 211Q2 25: 198Q3 25: 192Q4 25: 210210Q3 22Q2 23Q1 24Q4 24Q4 25
Numbers
QuarterHolders
Q3 2022307
Q4 2022291
Q1 2023247
Q2 2023234
Q3 2023242
Q4 2023240
Q1 2024221
Q2 2024220
Q3 2024203
Q4 2024215
Q1 2025211
Q2 2025198
Q3 2025192
Q4 2025210

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
2000200Q1 24: 73 bought or addedQ1 24: 117 cut or sold outQ2 24: 67 bought or addedQ2 24: 110 cut or sold outQ2 24Q3 24: 59 bought or addedQ3 24: 103 cut or sold outQ4 24: 87 bought or addedQ4 24: 82 cut or sold outQ4 24Q1 25: 72 bought or addedQ1 25: 94 cut or sold outQ2 25: 65 bought or addedQ2 25: 93 cut or sold outQ2 25Q3 25: 60 bought or addedQ3 25: 79 cut or sold outQ4 25: 93 bought or addedQ4 25: 69 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 202473117
Q2 202467110
Q3 202459103
Q4 20248782
Q1 20257294
Q2 20256593
Q3 20256079
Q4 20259369

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$2m$4m$6mQ1 25 calls: $1.8mQ1 25 puts: $1.3mQ1 25P/C 0.73Q2 25 calls: $4.3mQ2 25 puts: $303.0kQ2 25P/C 0.07Q3 25 calls: $3.9mQ3 25 puts: $355.8kQ3 25P/C 0.09Q4 25 calls: $4.6mQ4 25 puts: $2.5mQ4 25P/C 0.56
Numbers
QuarterCallsPutsP/C
Q1 2025$1.8m$1.3m0.73
Q2 2025$4.3m$303.0k0.07
Q3 2025$3.9m$355.8k0.09
Q4 2025$4.6m$2.5m0.56

Biggest buyers

JPMORGAN CHASE & CO Added +605,061+605.1k
JANE STREET GROUP, LLC New +331,744+331.7k
Corient Private Wealth LP Added +232,348+232.3k
IFG Advisory, LLC New +172,390+172.4k
Man Group plc Added +168,425+168.4k
Laird Norton Wetherby Trust Company, LLC Added +108,408+108.4k
Advisory Services Network, LLC Added +83,177+83.2k
Bank of New York Mellon Corp Added +81,403+81.4k
FLOW TRADERS U.S. LLC New +58,880+58.9k
HRT FINANCIAL LP New +44,617+44.6k

Biggest sellers

HighVista Strategies LLC Reduced -378,898-378.9k
WELLS FARGO & COMPANY/MN Reduced -304,285-304.3k
Quadrature Capital Ltd Sold out -239,652-239.7k
ENVESTNET ASSET MANAGEMENT INC Reduced -164,325-164.3k
GOLDMAN SACHS GROUP INC Reduced -157,298-157.3k
LOCKHEED MARTIN INVESTMENT MANAGEMENT CO Reduced -150,000-150.0k
Sanctuary Advisors, LLC Reduced -75,448-75.4k
Aureus Asset Management, LLC Sold out -70,900-70.9k
Integrated Wealth Concepts LLC Sold out -65,215-65.2k
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Reduced -48,310-48.3k

Biggest calls

Cinctive Capital Management LP New $2.2m100.0k shares
GOLDMAN SACHS GROUP INC New $1.1m50.0k shares
CITADEL ADVISORS LLC Added $717.8k32.1k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $277.3k12.4k shares
GROUP ONE TRADING LLC Reduced $152.0k6.8k shares
SIMPLEX TRADING, LLC Reduced $71.6k3.2k shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $1.4m62.5k shares
JANE STREET GROUP, LLC New $617.1k27.6k shares
SIMPLEX TRADING, LLC Added $529.9k23.7k shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Insider purchases and sales in Q4 2025

Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.

None reported in Q4 2025.

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 4,122,0724.1m $92.2m $92.2m 0.01% Reduced -1.5k -1,505
2 WELLS FARGO & COMPANY/MN 0.02% of their portfolio SAN FRANCISCO, CA 3,507,4813.5m $78.4m $78.4m 0.02% Reduced -304.3k -304,285
3 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 1,283,7151.3m $28.7m $28.7m 0.00% Reduced -15.2k -15,225
4 HighVista Strategies LLC 6.09% of their portfolio BOSTON, MA 1,057,2381.1m $23.6m $23.6m 6.09% Reduced -378.9k -378,898
5 DEUTSCHE BANK AG\ 0.01% of their portfolio FRANKFURT AM MAIN, 2M 998,317998.3k $22.3m $22.3m 0.01% Reduced -44.5k -44,544
6 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 817,253817.3k $18.3m $18.3m 0.00% Added +605.1k +605,061
7 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 579,877579.9k $13.0m $13.0m 0.00% Reduced -4.3k -4,313
8 Palumbo Wealth Management LLC 2.68% of their portfolio GREAT NECK, NY 485,566485.6k $10.9m $10.9m 2.68% Added +18.3k +18,271
9 Corient Private Wealth LP 0.01% of their portfolio MIAMI, FL 468,968469.0k $10.5m $10.5m 0.01% Added +232.3k +232,348
10 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 463,482463.5k $10.4m $10.4m 0.00% Reduced -164.3k -164,325
11 Cordant, Inc. 4.15% of their portfolio PORTLAND, OR 442,987443.0k $9.9m $9.9m 4.15% Reduced -5.9k -5,947
12 VICTORY CAPITAL MANAGEMENT INC 0.01% of their portfolio San Antonio, TX 439,100439.1k $9.8m $9.8m 0.01% Unchanged
13 Man Group plc 0.02% of their portfolio LONDON, X0 438,269438.3k $9.8m $9.8m 0.02% Added +168.4k +168,425
14 LOCKHEED MARTIN INVESTMENT MANAGEMENT CO 0.32% of their portfolio BETHESDA, MD 430,000430.0k $9.6m $9.6m 0.32% Reduced -150.0k -150,000
15 Avos Capital Management, LLC 4.01% of their portfolio SEATTLE, WA 410,393410.4k $9.2m $9.2m 4.01% Added +1.7k +1,694
16 JANE STREET GROUP, LLC 0.01% of their portfolio NEW YORK, NY 331,744331.7k $7.4m $7.4m 0.01% New
17 Lido Advisors, LLC 0.03% of their portfolio Los Angeles, CA 303,470303.5k $6.8m $6.8m 0.03% Reduced -186 -186
18 Cetera Investment Advisers 0.01% of their portfolio SCHAUMBURG, IL 247,774247.8k $5.5m $5.5m 0.01% Reduced -2.6k -2,619
19 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 224,265224.3k $5.0m $5.0m 0.00% Added +5.9k +5,861
20 Gladwyn Financial Advisors, Inc. 3.16% of their portfolio CHANTILLY, VA 201,455201.5k $4.5m $4.5m 3.16% Added +968 +968
21 Fund Evaluation Group, LLC 0.14% of their portfolio CINCINNATI, OH 185,314185.3k $4.1m $4.1m 0.14% Unchanged
22 Advisory Services Network, LLC 0.06% of their portfolio ATLANTA, GA 182,373182.4k $4.1m $4.1m 0.06% Added +83.2k +83,177
23 IFG Advisory, LLC 0.17% of their portfolio ATLANTA, GA 172,390172.4k $3.9m $3.9m 0.17% New
24 Marino Management, LLC 0.70% of their portfolio WESTPORT, CT 155,962156.0k $3.5m $3.5m 0.70% First filing
25 UBS Group AG 0.00% of their portfolio ZURICH, V8 150,346150.3k $3.4m $3.4m 0.00% Reduced -4.8k -4,832
26 CSS LLC/IL 0.18% of their portfolio CHICAGO, IL 140,422140.4k $3.1m $3.1m 0.18% Added +7.8k +7,780
27 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio Toronto, A6 138,449138.4k $3.1m $3.1m 0.00% Reduced -3.4k -3,403
28 INSIGNEO ADVISORY SERVICES, LLC 0.22% of their portfolio MIAMI, FL 137,425137.4k $3.1m $3.1m 0.22% Reduced -368 -368
29 KEYBANK NATIONAL ASSOCIATION/OH 0.01% of their portfolio BROOKLYN, OH 131,445131.4k $2.9m $2.9m 0.01% Added +4.4k +4,420
30 Laird Norton Wetherby Trust Company, LLC 0.06% of their portfolio Seattle, WA 129,122129.1k $2.9m $2.9m 0.06% Added +108.4k +108,408
31 NEUBERGER BERMAN GROUP LLC 0.00% of their portfolio NEW YORK, NY 122,209122.2k $2.7m $2.7m 0.00% Added +5.3k +5,278
32 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 119,265119.3k $2.7m $2.7m 0.00% Reduced -48.3k -48,310
33 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 115,016115.0k $2.6m $2.6m 0.00% Added +81.4k +81,403
34 Sanctuary Advisors, LLC 0.01% of their portfolio INDIANAPOLIS, IN 99,15799.2k $2.2m $2.2m 0.01% Reduced -75.4k -75,448
35 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 95,03795.0k $2.1m $2.1m 0.00% Reduced -20.8k -20,792
36 Global Endowment Management, LP 0.25% of their portfolio CHARLOTTE, NC 87,86287.9k $2.0m $2.0m 0.25% Reduced -36.4k -36,390
37 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 83,14883.1k $1.9m $1.9m 0.00% Reduced -18.1k -18,091
38 MACKENZIE FINANCIAL CORP 0.00% of their portfolio TORONTO ONTARIO, A6 75,13075.1k $1.7m $1.7m 0.00% Reduced -5.0k -5,010
39 Hilltop Holdings Inc. 0.10% of their portfolio DALLAS, TX 74,60874.6k $1.7m $1.7m 0.10% Reduced -11.4k -11,366
40 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 73,32073.3k $1.6m $1.6m 0.00% Added +3.7k +3,651
41 Atria Investments, Inc 0.02% of their portfolio Charlotte, NC 73,20273.2k $1.6m $1.6m 0.02% Added +5.4k +5,449
42 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 71,29571.3k $1.6m $1.6m 0.00% Reduced -6.6k -6,636
43 BKM Wealth Management, LLC 0.58% of their portfolio BROOKFIELD, WI 70,75070.8k $1.6m $1.6m 0.58% Added +2.9k +2,917
44 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 64,54964.5k $1.4m $1.4m 0.00% Added +9.7k +9,705
45 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 62,15862.2k $1.4m $1.4m 0.00% Reduced -2.0k -1,976
46 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 61,62561.6k $1.4m $1.4m 0.00% Added +30.1k +30,078
47 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 60,51360.5k $1.4m $1.4m 0.00% Reduced -13.7k -13,652
48 FLOW TRADERS U.S. LLC 0.04% of their portfolio NEW YORK, NY 58,88058.9k $1.3m $1.3m 0.04% New
49 LOM Asset Management Ltd 0.38% of their portfolio Hamilton, D0 58,70058.7k $1.3m $1.3m 0.38% Unchanged
50 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 58,09558.1k $1.3m $1.3m 0.00% Added +2.8k +2,770
51 World Investment Advisors 0.02% of their portfolio LINCROFT, NJ 56,04556.0k $1.3m $1.3m 0.02% Added +1.1k +1,102
52 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 54,47654.5k $1.2m $1.2m 0.00% Added +42.0k +42,048
53 Pathstone Holdings, LLC 0.00% of their portfolio ENGLEWOOD, NJ 48,86348.9k $1.1m $1.1m 0.00% Reduced -18.5k -18,516
54 Ashton Thomas Private Wealth, LLC 0.03% of their portfolio SCOTTSDALE, AZ 48,67348.7k $1.1m $1.1m 0.03% Added +7.6k +7,571
55 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 47,80847.8k $1.1m $1.1m 0.00% Reduced -3.9k -3,896
56 HRT FINANCIAL LP 0.00% of their portfolio NEW YORK, NY 44,61744.6k $997.0k $997.0k 0.00% New
57 Mariner, LLC 0.00% of their portfolio Overland Park, KS 43,15543.2k $965.0k $965.0k 0.00% Reduced -1.2k -1,168
58 Atlas Legacy Advisors, LLC 0.17% of their portfolio LOS ANGELES, CA 42,24842.2k $944.7k $944.7k 0.17% Added +21.0k +21,028
59 NATIONS FINANCIAL GROUP INC, /IA/ /ADV 0.05% of their portfolio CEDAR RAPIDS, IA 42,16142.2k $942.7k $942.7k 0.05% Added +13.8k +13,773
60 FIDUCIARY FINANCIAL GROUP, LLC 0.13% of their portfolio SAN RAFAEL, CA 42,00342.0k $939.2k $939.2k 0.13% Added +2.2k +2,170
61 DUFF & PHELPS INVESTMENT MANAGEMENT CO 0.01% of their portfolio CHICAGO, IL 41,69441.7k $932.3k $932.3k 0.01% Added +9.1k +9,100
62 Sigma Planning Corp 0.03% of their portfolio ANN ARBOR, MI 41,40841.4k $925.9k $925.9k 0.03% Added +13 +13
63 MML INVESTORS SERVICES, LLC 0.00% of their portfolio SPRINGFIELD, MA 41,27441.3k $922.9k $922.9k 0.00% Added +5.2k +5,159
64 NWAM LLC 0.05% of their portfolio MERCER ISLAND, WA 39,15739.2k $951.1k $951.1k 0.05% New
65 NewEdge Wealth, LLC 0.01% of their portfolio STAMFORD, CT 37,79037.8k $845.0k $845.0k 0.01% Unchanged
66 Kestra Advisory Services, LLC 0.00% of their portfolio AUSTIN, TX 36,44936.4k $815.0k $815.0k 0.00% Added +1.5k +1,543
67 J.Safra Asset Management Corp 0.04% of their portfolio NEW YORK, NY 35,78935.8k $800.2k $800.2k 0.04% Added +32.4k +32,390
68 &PARTNERS 0.00% of their portfolio NASHVILLE, TN 34,92434.9k $780.9k $780.9k 0.00% Reduced -25 -25
69 Basecamp Wealth Advisors LLC 0.17% of their portfolio BELLEVUE, WA 34,79634.8k $778.0k $778.0k 0.17% First filing
70 MATHER GROUP, LLC. 0.01% of their portfolio CHICAGO, IL 34,73934.7k $776.8k $776.8k 0.01% New
71 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 34,59634.6k $773.6k $773.6k 0.00% Reduced -157.3k -157,298
72 Main Street Financial Solutions, LLC 0.06% of their portfolio NEWTOWN, PA 34,20034.2k $764.7k $764.7k 0.06% Reduced -2.6k -2,574
73 Bleakley Financial Group, LLC 0.01% of their portfolio PARSIPPANY, NJ 33,55333.6k $750.2k $750.2k 0.01% New
74 M&T Bank Corp 0.00% of their portfolio BUFFALO, NY 33,20633.2k $742.5k $742.5k 0.00% Reduced -190 -190
75 Arax Advisory Partners 0.02% of their portfolio NEW YORK, NY 32,97133.0k $737.2k $737.2k 0.02% Added +26.1k +26,126
76 Rockefeller Capital Management L.P. 0.00% of their portfolio NEW YORK, NY 32,93432.9k $736.4k $736.4k 0.00% Added +7.4k +7,363
77 Wealthcare Advisory Partners LLC 0.01% of their portfolio WEST CHESTER, PA 32,41332.4k $724.8k $724.8k 0.01% Added +2.6k +2,641
78 IPG Investment Advisors LLC 0.13% of their portfolio SAN DIEGO, CA 32,40132.4k $724.5k $724.5k 0.13% Added +1.8k +1,751
79 IEQ CAPITAL, LLC 0.00% of their portfolio Foster City, CA 30,61030.6k $684.4k $684.4k 0.00% Added +975 +975
80 CERTUITY, LLC 0.04% of their portfolio NORTH PALM BEACH, FL 30,27030.3k $676.8k $676.8k 0.04% Unchanged
81 National Philanthropic Trust 0.01% of their portfolio Jenkintown, PA 28,91228.9k $646.5k $646.5k 0.01% Unchanged
82 CHOREO, LLC 0.01% of their portfolio ROCKFORD, IL 28,74828.7k $650.9k $650.9k 0.01% Reduced -9.6k -9,575
83 Savant Capital, LLC 0.00% of their portfolio ROCKFORD, IL 26,33326.3k $588.8k $588.8k 0.00% Reduced -756 -756
84 NORTHBRIDGE FINANCIAL GROUP, LLC 0.26% of their portfolio TAMPA, FL 26,30626.3k $588.2k $588.2k 0.26% First filing
85 Militia Capital Partners, LP 0.11% of their portfolio AUSTIN, TX 25,00025.0k $559.0k $559.0k 0.11% New
86 HUNTINGTON NATIONAL BANK 0.00% of their portfolio COLUMBUS, OH 24,29724.3k $543.3k $543.3k 0.00% Added +6.5k +6,500
87 Kingsview Wealth Management, LLC 0.01% of their portfolio GRANTS PASS, OR 24,04224.0k $537.6k $537.6k 0.01% Added +2.5k +2,455
88 Cresset Asset Management, LLC 0.00% of their portfolio Chicago, IL 22,96523.0k $513.5k $513.5k 0.00% Unchanged
89 Steward Partners Investment Advisory, LLC 0.00% of their portfolio STAMFORD, CT 22,44922.4k $502.0k $502.0k 0.00% Reduced -9.6k -9,554
90 American State Bank (Iowa) 0.24% of their portfolio SIOUX CENTER, IA 22,13022.1k $494.8k $494.8k 0.24% Unchanged
91 Prime Capital Investment Advisors, LLC 0.01% of their portfolio OVERLAND PARK, KS 21,48021.5k $480.3k $480.3k 0.01% Added +3.0k +3,000
92 Maia Wealth LLC 0.09% of their portfolio DENVER, CO 21,46921.5k $511.0k $511.0k 0.09% Reduced -931 -931
93 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 21,34921.3k $477.4k $477.4k 0.00% Added +2.9k +2,871
94 AXXCESS WEALTH MANAGEMENT, LLC 0.01% of their portfolio CARLSBAD, CA 21,02821.0k $470.2k $470.2k 0.01% New
95 Sonoma Private Wealth LLC 0.57% of their portfolio San Francisco, CA 20,98621.0k $469.2k $469.2k 0.57% Added +1.6k +1,577
96 BLAIR WILLIAM & CO/IL 0.00% of their portfolio CHICAGO, IL 20,83720.8k $465.9k $465.9k 0.00% Reduced -11.2k -11,241
97 Cardinal Point Capital Management ULC 0.03% of their portfolio TORONTO, A6 20,45020.4k $457.3k $457.3k 0.03% Unchanged
98 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 20,08420.1k $449.1k $449.1k 0.00% Added +471 +471
99 Redhawk Wealth Advisors, Inc. 0.05% of their portfolio MINNEAPOLIS, MN 19,09819.1k $427.0k $427.0k 0.05% Added +605 +605
100 Knollwood Investment Advisory, LLC 0.04% of their portfolio HUNT VALLEY, MD 18,90418.9k $422.7k $422.7k 0.04% Unchanged