Teucrium Commodity Trust
For the period ended Dec 31, 2023. Filed Feb 29, 2024.
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FY2023 · Filed Feb 29, 2024
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Item 15. Exhibits and Financial Statement Schedules
Item 15.**Exhibits and Financial Statements Schedules
The following exhibits are filed as part of this report as required under Item 601 of Regulation S-K:
| 3.1 | Fifth Amended and Restated Declaration of Trust and Trust Agreement of the Registrant. (1) |
| 3.2 | Certificate of Trust of the Registrant. (2) |
| 3.3 | Instrument Establishing Teucrium Sugar Fund, Teucrium Wheat Fund, Teucrium Soybean Fund, Teucrium Natural Gas Fund and Teucrium WTI Crude Oil Fund. (3) |
| 3.4 | Instrument Establishing Teucrium Agricultural Fund (4) |
| 10.1 | Form of Authorized Purchaser Agreement. (9) |
| 10.2 | Distribution Services Agreement. (5) |
| 10.3 | Amended and Restated Distribution Services Agreement. (6) |
| 10.4 | Amendment to Amended and Restated Distribution Services Agreement. (7) |
| 10.5 | Second Amendment to Amended and Restated Distribution Services Agreement (8) |
| 10.6 | Third Amendment to Amended and Restated Distribution Services Agreement (10) |
| 10.7 | Fourth Amendment to Amended and Restated Distribution Services Agreement (11) |
| 10.8 | Fifth Amendment to Amended and Restated Distribution Services Agreement (13) |
| 10.9 | Custody Agreement. (12) |
| 10.10 | First Amendment to the Custody Agreement (14) |
| 10.11 | Fund Accounting Servicing Agreement (12) |
| 10.12 | First Amendment to the Accounting Servicing Agreement (14) |
| 10.13 | Transfer Agent Servicing Agreement (12) |
| 10.14 | First Amendment to the Transfer Agent Servicing Agreement (14) |
| 10.15 | Fund Administration Servicing Agreement (12) |
| 10.16 | First Amendment to the Fund Administration Servicing Agreement (14) |
| 31.1 | Certification by the Principal Executive Officer of the Registrant pursuant to Rules 13a-14 and 15d-14 of the Exchange Act.(15) |
| 31.2 | Certification by the Principal Financial Officer of the Registrant pursuant to Rules 13a-14 and 15d-14 of the Exchange Act. (15) |
| 32.1 | Certification by the Principal Executive Officer of the Registrant pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. (15) |
| 32.2 | Certification by the Principal Financial Officer of the Registrant pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. (15) |
| 101.INS | Inline XBRL Instance Document (15) |
| 101.SCH | Inline XBRL Taxonomy Extension Schema (15) |
| 101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase (15) |
| 101.DEF | Inline XBRL Taxonomy Definition Linkbase (15) |
| 101.LAB | Inline XBRL Taxonomy Extension Label Linkbase (15) |
| 101.PRE | Inline XBRL Taxonomy Extension Presentation Linkbase (15) |
| 104 | Cover Page Interactive Data File (formatted in inline XBRL and contained in Exhibit 101) |
| (1) | Previously filed as like-numbered exhibit to Pre-Effective Amendment No. 2 to Registration Statement No. 333-230623, filed on April 26, 2019 and incorporated by reference herein. |
| (2) | Previously filed as like-numbered exhibit to Registration Statement No. 333-162033, filed on September 21, 2009 and incorporated by reference herein. |
| (3) | Previously filed as like-numbered exhibit to Pre-Effective Amendment No. 1 to Registration Statement No. 333-167590, filed on March 9, 2011 and incorporated by reference herein. |
| (4) | Previously filed as Exhibit 3.3 to Registration Statement No. 333-173691, filed on April 25, 2011 and incorporated by reference herein. |
| (5) | Previously filed as Exhibit 10.2 to Post-Effective Amendment No. 1 to Registration Statement No. 333-162033, filed on October 22, 2010 and incorporated by reference herein. |
| (6) | Previously filed as Exhibit 10.2(1) to Registrant’s Current Report on Form 8-K for the Teucrium Corn Fund, filed on November 1, 2011 and incorporated herein by reference. |
| (7) | Previously filed as Exhibit 10.2(2) to Registrant’s Current Report on Form 8-K for the Teucrium Corn Fund, filed on November 1, 2011 and incorporated by reference herein. |
| (8) | Previously filed as Exhibit 10.2(3) to Registrant’s Current Report on Form 8-K for the Teucrium Corn Fund, filed on November 1, 2011 and incorporated by reference herein. |
| (9) | Previously filed as like-numbered exhibit to Pre-Effective Amendment No. 1 to Registration Statement No. 333-173691, filed on December 5, 2011. |
| (10) | Previously filed as Exhibit 10.5 to Pre-Effective Amendment No.1 to Registration Statement No. 333-187463, filed on April 26, 2013. |
| (11) | Previously filed as Exhibit to 10.9 to Registration Statement No. 333-201953, filed on February 9, 2015 and incorporated by reference herein. |
| (12) | Previously filed as like-numbered exhibit to Registrant’s Report on Form 10-K for the fiscal year ended December 31, 2015, filed on March 16, 2016. |
| (13) | Previously filed as Exhibit 10.1 to the Registrant’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2021, filed on March 10, 2021, and incorporated by reference herein. |
| (14) | Previously filed as like-numbered exhibit to Registrant’s Report on Form 10-K for the fiscal year ended December 31, 2020, filed on March 16, 2021. |
| (15) | Filed herein. |
TEUCRIUM COMMODITY TRUST
FINANCIAL STATEMENTS AS OF December 31, 2023
Index to Financial Statements
| Documents | Page |
|---|---|
| TEUCRIUM COMMODITY TRUST | |
| Report of Independent Registered Public Accounting Firm (GRANT THORNTON LLP, New York, NY, PCAOB #248) | F-2 |
| Combined Statements of Assets and Liabilities at December 31, 2023 and 2022 | F-3 |
| Combined Schedules of Investments at December 31, 2023 and 2022 | F-4 |
| Combined Statements of Operations for the years ended December 31, 2023, 2022 and 2021 | F-6 |
| Combined Statements of Changes in Net Assets for the years ended December 31, 2023, 2022 and 2021 | F-7 |
| Combined Statements of Cash Flows for the years ended December 31, 2023, 2022 and 2021 | F-8 |
| Notes to Combined Financial Statements | F-9 |
| TEUCRIUM CORN FUND | |
| Report of Independent Registered Public Accounting Firm (GRANT THORNTON LLP, New York, NY, PCAOB #248) | F-23 |
| Statements of Assets and Liabilities at December 31, 2023 and 2022 | F-24 |
| Schedules of Investments at December 31, 2023 and 2022 | F-25 |
| Statements of Operations for the years ended December 31, 2023, 2022 and 2021 | F-27 |
| Statements of Changes in Net Assets for the years ended December 31, 2023, 2022 and 2021 | F-28 |
| Statements of Cash Flows for the years ended December 31, 2023, 2022 and 2021 | F-29 |
| Notes to Financial Statements | F-30 |
| TEUCRIUM SOYBEAN FUND | |
| Report of Independent Registered Public Accounting Firm (GRANT THORNTON LLP, New York, NY, PCAOB #248) | F-42 |
| Statements of Assets and Liabilities at December 31, 2023 and 2022 | F-43 |
| Schedules of Investments at December 31, 2023 and 2022 | F-44 |
| Statements of Operations for the years ended December 31, 2023, 2022 and 2021 | F-46 |
| Statements of Changes in Net Assets for the years ended December 31, 2023, 2022 and 2021 | F-47 |
| Statements of Cash Flows for the years ended December 31, 2023, 2022 and 2021 | F-48 |
| Notes to Financial Statements | F-49 |
| TEUCRIUM SUGAR FUND | |
| Report of Independent Registered Public Accounting Firm (GRANT THORNTON LLP, New York, NY, PCAOB #248) | F-61 |
| Statements of Assets and Liabilities at December 31, 2023 and 2022 | F-62 |
| Schedules of Investments at December 31, 2023 and 2022 | F-63 |
| Statements of Operations for the years ended December 31, 2023, 2022 and 2021 | F-65 |
| Statements of Changes in Net Assets for the years ended December 31, 2023, 2022 and 2021 | F-66 |
| Statements of Cash Flows for the years ended December 31, 2023, 2022 and 2021 | F-67 |
| Notes to Financial Statements | F-68 |
| TEUCRIUM WHEAT FUND | |
| Report of Independent Registered Public Accounting Firm (GRANT THORNTON LLP, New York, NY, PCAOB #248) | F-80 |
| Statements of Assets and Liabilities at December 31, 2023 and 2022 | F-81 |
| Schedules of Investments at December 31, 2023 and 2022 | F-82 |
| Statements of Operations for the years ended December 31, 2023, 2022 and 2021 | F-84 |
| Statements of Changes in Net Assets for the years ended December 31, 2023, 2022 and 2021 | F-85 |
| Statements of Cash Flows for the years ended December 31, 2023, 2022 and 2021 | F-86 |
| Notes to Financial Statements | F-87 |
| TEUCRIUM AGRICULTURAL FUND | |
| Report of Independent Registered Public Accounting Firm (GRANT THORNTON LLP, New York, NY, PCAOB #248) | F-99 |
| Statements of Assets and Liabilities at December 31, 2023 and 2022 | F-100 |
| Schedules of Investments at December 31, 2023 and 2022 | F-101 |
| Statements of Operations for the years ended December 31, 2023, 2022 and 2021 | F-103 |
| Statements of Changes in Net Assets for the years ended December 31, 2023, 2022 and 2021 | F-104 |
| Statements of Cash Flows for the years ended December 31, 2023, 2022 and 2021 | F-105 |
| Notes to Financial Statements | F-106 |
| HASHDEX BITCOIN FUTURES ETF | |
| Report of Independent Registered Public Accounting Firm (GRANT THORNTON LLP, New York, NY, PCAOB #248) | |
| Statements of Assets and Liabilities at December 31, 2023 and 2022 | F-116 |
| Schedule of Investments at December 31, 2023 and 2022 | F-117 |
| Statements of Operations for the year ended December 31, 2023 and from the commencement of operations (September 15, 2022) through December 31, 2022 | F-119 |
| Statements of Changes in Net Assets for the year ended December 31, 2023 and from the commencement of operations (September 15, 2022) through December 31, 2022 | F-120 |
| Statements of Cash Flows for the year ended December 31, 2023 and from the commencement of operations (September 15, 2022) through December 31, 2022 | F-121 |
| Notes to Financial Statements | F-122 |
| GRANT THORNTON LLP 757 Third Ave., 9th Floor New York, NY 10017 D+1 212 599 0100 F+1 212 370 4520 | REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Sponsor of Teucrium Commodity Trust Opinion on the financial statements We have audited the accompanying combined statements of assets and liabilities, including the combined schedules of investments of Teucrium Commodity Trust (a Delaware statutory Trust) (the “Trust”) as of December 31, 2023 and 2022, the related combined statements of operations, changes in net assets, and cash flows for each of the three years in the period ended December 31, 2023, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Trust as of December 31, 2023 and 2022, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2023, in conformity with accounting principles generally accepted in the United States of America. Basis for opinion These financial statements are the responsibility of the Trust’s management. Our responsibility is to express an opinion on the Trust’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Trust in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Trust is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Trust’s internal control over financial reporting. Accordingly, we express no such opinion. Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion. Critical audit matters Critical audit matters are matters arising from the current period audit of the financial statements that were communicated or required to be communicated to the audit committee and that: (1) relate to accounts or disclosure that are material to the financial statements and (2) involved our especially challenging, subjective, or complex judgments. We determined that there are no critical audit matters. /s/ GRANT THORNTON LLP We have served as the Trust’s auditor since 2014. New York, New York February 29, 2024 |
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| GT.COM | Grant Thornton LLP is the U.S. member firm of Grant Thornton International Ltd (GTIL). GTIL and each of its member firms are separate legal entities and are not a worldwide partnership. |
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