Invesco DB US Dollar Index Bullish Fund

For the period ended Mar 31, 2026. Filed May 7, 2026.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2026 · Filed May 7, 2026

UUP$28.97-0.5%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Contents

Item 1. Financial Statements

Statements of Financial Condition

March 31, 2026 and December 31, 2025

	March 31,	December 31,
	2026	2025
Assets
Affiliated investments, at value and cost	$562,700,245	$221,425,729
Deposit with Commodity Broker	12,461,665	7,999,634
Receivable for:
Dividends from affiliates	1,281,327	786,386
Total assets	$576,443,237	$230,211,749
Liabilities
Other investments:
Variation margin payable - Currency Futures Contracts	$3,408,966	$—
Management fees	236,611	142,841
Total liabilities	$3,645,577	$142,841
Commitments and Contingencies (Note 10)
Equity
Shareholder's equity—General Shares	1,112	1,083
Shareholders' equity—Shares	572,796,548	230,067,825
Total shareholders' equity	572,797,660	230,068,908
Total liabilities and equity	$576,443,237	$230,211,749
General Shares outstanding	40	40
Shares outstanding	20,600,000	8,500,000
Net asset value per share	$27.81	$27.07
Market value per share	$27.79	$27.04

Schedule of Investments

March 31, 2026

Description	Percentage ofShareholders'Equity	Value	Shares
Affiliated Investments
Money Market Mutual Fund
Invesco Government & Agency Portfolio, Institutional Class, 3.58% (cost $562,700,245)(a)(b)	98.24%	$562,700,245	562,700,245
Total Investments in Securities (cost $562,700,245)	98.24%	$562,700,245

(a)

Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. See Note 8.

(b)

The rate shown is the 7-day SEC standardized yield as of March 31, 2026.

Open Currency Futures Contracts	Number of Contracts	Expiration Date	NotionalValue	Value(c)	UnrealizedAppreciation(Depreciation)(c)
Long Futures Contracts
ICE U.S. Dollar Index	5,739	June-2026	$572,516,901	$2,988,613	$2,988,613

(c)

Unrealized Appreciation (Depreciation) and Value are presented above, net by contract.

Schedule of Investments

December 31, 2025

Description	Percentage ofShareholders'Equity	Value	Shares
Affiliated Investments
Money Market Mutual Fund
Invesco Government & Agency Portfolio, Institutional Class, 3.68% (cost $221,425,729)(a)(b)	96.24%	$221,425,729	221,425,729

(a)

Affiliated issuer. The issuer and/or the Fund is a wholly-owned subsidiary of Invesco Ltd., or is affiliated by having an investment adviser that is under common control of Invesco Ltd. See Note 8.

(b)

The rate shown is the 7-day SEC standardized yield as of December 31, 2025.

Open Currency Futures Contracts	Number of Contracts	Expiration Date	NotionalValue	Value(c)	UnrealizedAppreciation(Depreciation)(c)
Long Futures Contracts
ICE U.S. Dollar Index	2,346	March-2026	$230,018,262	$(751,465)	$(751,465)

(c)

Unrealized Appreciation (Depreciation) and Value are presented above, net by contract.

Statements of Income and Expenses

	Three Months Ended
	March 31,
	2026	2025
Income
Interest Income	$69,549	$1,573,936
Dividends from Affiliates	2,541,590	3,003,895
Total Income	2,611,139	4,577,831
Expenses
Management Fees	542,682	794,303
Brokerage Commissions and Fees	29,323	26,287
Interest Expense	169	11,196
Total Expenses	572,174	831,786
Less: Waivers	(69,163)	(63,637)
Net Expenses	503,011	768,149
Net Investment Income (Loss)	2,108,128	3,809,682
Net Realized and Net Change in Unrealized Gain (Loss) on United States Treasury Obligations, Affiliated Investments and Currency Futures Contracts
Net Realized Gain (Loss) on
Currency Futures Contracts	2,868,460	(11,400,938)
Net Realized Gain (Loss)	2,868,460	(11,400,938)
Net Change in Unrealized Gain (Loss) on
United States Treasury Obligations	—	(122,720)
Currency Futures Contracts	3,740,078	(5,263,251)
Net Change in Unrealized Gain (Loss)	3,740,078	(5,385,971)
Net Realized and Net Change in Unrealized Gain (Loss) on United States Treasury Obligations, Affiliated Investments and Currency Futures Contracts	6,608,538	(16,786,909)
Net Income (Loss)	$8,716,666	$(12,977,227)

Statements of Changes in Shareholders’ Equity

General Shares · Shares · Total
Shares · TotalEquity · Shares · TotalEquity · Shareholders'Equity
Balance at December 31, 2025	40		$1,083			8,500,000			$230,067,825			$230,068,908
Purchases of Shares					15,150,000			417,005,056			417,005,056
Redemption of Shares					(3,050,000)			(82,992,970)			(82,992,970)
Net Increase (Decrease) due to Share Transactions					12,100,000			334,012,086			334,012,086
Net Income (Loss)
Net Investment Income (Loss)			7					2,108,121			2,108,128
Net Realized Gain (Loss) on United States Treasury Obligations and Currency Futures Contracts			10					2,868,450			2,868,460
Net Change in Unrealized Gain (Loss) on United States Treasury Obligations and Currency Futures Contracts			12					3,740,066			3,740,078
Net Income (Loss)			29					8,716,637			8,716,666
Net Change in Shareholders' Equity		—		29			12,100,000			342,728,723			342,728,752
Balance at March 31, 2026		40		$1,112			20,600,000			$572,796,548			$572,797,660

General Shares · Shares · Total
Shares · TotalEquity · Shares · TotalEquity · Shareholders'Equity
Balance at December 31, 2024	40		$1,177		14,600,000		$429,543,370		$429,544,547
Purchases of Shares				9,100,000		267,671,619		267,671,619
Redemption of Shares				(12,300,000)		(358,687,929)		(358,687,929)
Net Increase (Decrease) due to Share Transactions				(3,200,000)		(91,016,310)		(91,016,310)
Net Income (Loss)
Net Investment Income (Loss)		10				3,809,672		3,809,682
Net Realized Gain (Loss) on United States Treasury Obligations and Currency Futures Contracts		(31)				(11,400,907)		(11,400,938)
Net Change in Unrealized Gain (Loss) on United States Treasury Obligations and Currency Futures Contracts		(15)				(5,385,956)		(5,385,971)
Net Income (Loss)		(36)				(12,977,191)		(12,977,227)
Net Change in Shareholders' Equity	—		(36)		(3,200,000)		(103,993,501)		(103,993,537)
Balance at March 31, 2025	40		$1,141		11,400,000		$325,549,869		$325,551,010

Statements of Cash Flows

	2026	2025
Cash flows from operating activities:
Net Income (Loss)	$8,716,666	$(12,977,227)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Proceeds from securities sold and matured	—	25,000,000
Cost of affiliated investments purchased	(417,139,119)	(297,081,374)
Proceeds from affiliated investments sold	75,864,603	385,476,981
Net accretion of discount on United States Treasury Obligations	—	(1,561,638)
Net change in unrealized (gain) loss on United States Treasury Obligations and Affiliated Investments	—	122,720
Change in operating assets and liabilities:
Variation margin - Currency Futures Contracts	3,408,966	1,439,295
Deposit with Commodity Broker	(4,462,031)	(13,045,188)
Dividends from affiliates	(494,941)	271,606
Management fees	93,770	(41,564)
Brokerage commissions and fees	—	86
Net cash provided by (used in) operating activities	(334,012,086)	87,603,697
Cash flows from financing activities:
Proceeds from purchases of Shares	417,005,056	267,671,619
Redemption of Shares	(82,992,970)	(355,832,228)
Net cash provided by (used in) financing activities	334,012,086	(88,160,609)
Net change in cash	—	(556,912)
Cash at beginning of period	—	556,912
Cash at end of period	$—	$—
Supplemental disclosure of cash flow information
Cash paid for interest	$169	$11,196

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.