iShares S&P GSCI Commodity-Indexed Trust
For the period ended Sep 30, 2024. Filed Nov 7, 2024.
View on SEC.govAbout 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.
Sep 30, 2024 · Filed Nov 7, 2024
GSG$34.46-0.2%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2024-06-30; filed 2024-08-08.
0001437749-24-025402
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2024-09-30; filed 2024-11-07.
0001437749-24-033819
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 35 previous paragraphs and 35 current paragraphs.
28 unchanged; 7 reworded; 0 added; 0 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 0 previous and 0 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Reworded paragraphs (7)
Previous wording
The Trust’s net asset value increased from $968,051,679 at December 31, 2023 to $1,098,519,705 at June 30, 2024. The increase in the Trust’s net asset value resulted primarily from an increase in the number of outstanding Shares, which rose from 48,200,000 Shares at December 31, 2023 to 49,500,000 Shares at June 30, 2024, a consequence of 7,750,000 Shares (155 Baskets) being created and 6,450,000 Shares (129 Baskets) being redeemed during the period. The Trust’s net asset value was also affected by a net increase in net assets resulting from operations.
Current wording
The Trust’s net asset value decreased from $1,098,519,705 at June 30, 2024 to $881,380,256 at September 30, 2024. The decrease in the Trust’s net asset value resulted primarily from a net decrease in the number of outstanding Shares, which fell from 49,500,000 Shares at June 30, 2024 to 42,000,000 Shares at September 30, 2024, a consequence of 350,000 Shares (7 Baskets) being created and 7,850,000 Shares (157 Baskets) being redeemed during the quarter. The Trust’s net asset value was also affected by a net decrease in net assets resulting from operations.
Previous wording
The Trust’s NAV increased by 0.41% from $22.10 at March 31, 2024 to $22.19 at June 30, 2024 despite a 0.70% decrease in the settlement price for the Index Futures due to the interest income from U.S. Treasury bills.
Current wording
The 5.41% decrease in the NAV from $22.19 at June 30, 2024 to $20.99 at September 30, 2024 is directly related to the 6.51% decrease in the settlement price for the Index Futures. The NAV decreased slightly less than the settlement price for the Index Futures on a percentage basis due to the interest income from U.S. Treasury bills.
Previous wording
The net increase in net assets resulting from operations for the quarter ended June 30, 2024 was $4,499,014, resulting from a net investment income of $11,931,547, partially offset by a net realized and unrealized loss of $7,432,533. For the quarter ended June 30, 2024, the Trust had a net realized and unrealized gain of $324,730 on short-term investments and a net realized and unrealized loss of $7,757,263 on futures contracts. Other than the Sponsor’s fees of $2,026,058 and brokerage commissions and fees of $188,202, the Trust had no expenses during the quarter.
Current wording
The net decrease in net assets resulting from operations for the quarter ended September 30, 2024 was $59,879,999, resulting from a net realized and unrealized loss of $70,955,953, partially offset by a net investment income of $11,075,954. For the quarter ended September 30, 2024, the Trust had a net realized and unrealized loss of $70,477 on short-term investments and a net realized and unrealized loss of $70,885,476 on futures contracts. Other than the Sponsor’s fees of $1,801,762 and brokerage commissions and fees of $159,320, the Trust had no expenses during the quarter.
Previous wording
The Six-Month Period Ended June 30, 2024
Current wording
The Nine-Month Period Ended September 30, 2024
Previous wording
The Trust’s net asset value increased from $1,034,489,890 at March 31, 2024 to $1,098,519,705 at June 30, 2024. The increase in the Trust’s net asset value resulted primarily from a net increase in net assets resulting from operations. The Trust’s net asset value also benefited from an increase in the number of outstanding Shares, which rose from 46,800,000 Shares at March 31, 2024 to 49,500,000 Shares at June 30, 2024, a consequence of 4,700,000 Shares (94 Baskets) being created and 2,000,000 Shares (40 Baskets) being redeemed during the quarter.
Current wording
The Trust’s net asset value decreased from $968,051,679 at December 31, 2023 to $881,380,256 at September 30, 2024. The decrease in the Trust’s net asset value resulted primarily from a net decrease in the number of outstanding Shares, which fell from 48,200,000 Shares at December 31, 2023 to 42,000,000 Shares at September 30, 2024, a consequence of 8,100,000 Shares (162 Baskets) being created and 14,300,000 Shares (286 Baskets) being redeemed during the period. The decrease in the Trust’s net asset value was partially offset by a net increase in net assets resulting from operations.
Previous wording
The 10.51% increase in the Trust’s NAV from $20.08 at December 31, 2023 to $22.19 at June 30, 2024 is directly related to the 8.16% increase in the settlement price for the Index Futures. The Trust’s NAV increased slightly more than the settlement price for the Index Futures on a percentage basis due to the interest income from U.S. Treasury bills.
Current wording
The 4.53% increase in the NAV from $20.08 at December 31, 2023 to $20.99 at September 30, 2024 is directly related to the 1.12% increase in the settlement price for the Index Futures. The NAV increased more than the settlement price for the Index Futures on a percentage basis due to the interest income from U.S. Treasury bills.
Previous wording
The net increase in net assets resulting from operations for the period ended June 30, 2024 was $96,838,770, resulting from a net realized and unrealized gain of $73,910,143, and a net investment income of $22,928,627. For the six months ended June 30, 2024, the Trust had a net realized and unrealized loss of $99,510 on short-term investments and a net realized and unrealized gain of $74,009,653 on futures contracts. Other than the Sponsor’s fees of $3,811,159 and brokerage commissions and fees of $421,801, the Trust had no expenses during the period.
Current wording
The net increase in net assets resulting from operations for the nine months ended September 30, 2024 was $36,958,771, resulting from a net realized and unrealized gain of $2,954,190, and a net investment income of $34,004,581. For the nine months ended September 30, 2024, the Trust had a net realized and unrealized loss of $169,987 on short-term investments and a net realized and unrealized gain of $3,124,177 on futures contracts. Other than the Sponsor’s fees of $5,612,921 and brokerage commissions and fees of $581,121, the Trust had no expenses during the period.