
	UNITED STATES
	SECURITIES AND EXCHANGE COMMISSION
	Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934
(Amendment No. 2)*

iShares GSCI Commodity – Indexed Trust

(Name of Issuer)

Common Shares

(Title of Class of Securities)

46428R107

(CUSIP Number)

December 31, 2007

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

x	Rule 13d-1(b)
o	Rule 13d-1(c)
o	Rule 13d-1(d)

*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

CUSIP No. 46428R107

	1.	Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only) Rydex Holdings, Inc.

	2.	Check the Appropriate Box if a Member of a Group (See Instructions)
		(a)		o
		(b)		x

	3.	SEC Use Only

	4.	Citizenship or Place of Organization Delaware

Number of Shares Beneficially Owned by Each Reporting Person With			5.		Sole Voting Power -0-shares

			6.		Shared Voting Power 495,255 shares

			7.		Sole Dispositive Power -0-shares

			8.		Shared Dispositive Power 495,255 shares

	9.	Aggregate Amount Beneficially Owned by Each Reporting Person 495,255 shares

	10.	Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) o Not applicable

	11.	Percent of Class Represented by Amount in Row (9) 5.66%

	12.	Type of Reporting Person (See Instructions) HC

CUSIP No. 46428R107

	1.	Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only) PADCO Advisors, Inc. (DBA Rydex Investments)

	2.	Check the Appropriate Box if a Member of a Group (See Instructions)
		(a)		o
		(b)		x

	3.	SEC Use Only

	4.	Citizenship or Place of Organization Maryland

Number of Shares Beneficially Owned by Each Reporting Person With			5.		Sole Voting Power -0-shares

			6.		Shared Voting Power 279,910 shares

			7.		Sole Dispositive Power -0-shares

			8.		Shared Dispositive Power 279,910 shares

	9.	Aggregate Amount Beneficially Owned by Each Reporting Person 279,910 shares

	10.	Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) o Not applicable

	11.	Percent of Class Represented by Amount in Row (9) 3.20%

	12.	Type of Reporting Person (See Instructions) IA

CUSIP No. 46428R107

	1.	Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only) Rydex Series Funds Commodities Strategy Fund

	2.	Check the Appropriate Box if a Member of a Group (See Instructions)
		(a)		o
		(b)		x

	3.	SEC Use Only

	4.	Citizenship or Place of Organization Delaware

Number of Shares Beneficially Owned by Each Reporting Person With			5.		Sole Voting Power -0-shares

			6.		Shared Voting Power 49,970 shares

			7.		Sole Dispositive Power -0-shares

			8.		Shared Dispositive Power 49,970 shares

	9.	Aggregate Amount Beneficially Owned by Each Reporting Person 49,970 shares

	10.	Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) o Not applicable

	11.	Percent of Class Represented by Amount in Row (9) 0.57%

	12.	Type of Reporting Person (See Instructions) IV

CUSIP No. 46428R107

	1.	Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only) Rydex Series Funds Absolute Return Strategies Fund

	2.	Check the Appropriate Box if a Member of a Group (See Instructions)
		(a)		o
		(b)		x

	3.	SEC Use Only

	4.	Citizenship or Place of Organization Delaware

Number of Shares Beneficially Owned by Each Reporting Person With			5.		Sole Voting Power -0-shares

			6.		Shared Voting Power 229,940 shares

			7.		Sole Dispositive Power -0-shares

			8.		Shared Dispositive Power 229,940 shares

	9.	Aggregate Amount Beneficially Owned by Each Reporting Person 229,940 shares

	10.	Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) o Not applicable

	11.	Percent of Class Represented by Amount in Row (9) 2.63%

	12.	Type of Reporting Person (See Instructions) IV

CUSIP No. 46428R107

	1.	Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only) PADCO Advisors II, Inc. (DBA Rydex Investments)

	2.	Check the Appropriate Box if a Member of a Group (See Instructions)
		(a)		o
		(b)		x

	3.	SEC Use Only

	4.	Citizenship or Place of Organization Maryland

Number of Shares Beneficially Owned by Each Reporting Person With			5.		Sole Voting Power -0-shares

			6.		Shared Voting Power 215,345 shares

			7.		Sole Dispositive Power -0-shares

			8.		Shared Dispositive Power 215,345 shares

	9.	Aggregate Amount Beneficially Owned by Each Reporting Person 215,345 shares

	10.	Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) o Not applicable

	11.	Percent of Class Represented by Amount in Row (9) 2.46%

	12.	Type of Reporting Person (See Instructions) IA

CUSIP No. 46428R107

	1.	Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only) Rydex Variable Trust Commodities Strategy Fund

	2.	Check the Appropriate Box if a Member of a Group (See Instructions)
		(a)		o
		(b)		x

	3.	SEC Use Only

	4.	Citizenship or Place of Organization Delaware

Number of Shares Beneficially Owned by Each Reporting Person With			5.		Sole Voting Power -0-shares

			6.		Shared Voting Power 192,148 shares

			7.		Sole Dispositive Power -0-shares

			8.		Shared Dispositive Power 192,148 shares

	9.	Aggregate Amount Beneficially Owned by Each Reporting Person 192,148 shares

	10.	Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) o Not applicable

	11.	Percent of Class Represented by Amount in Row (9) 2.20%

	12.	Type of Reporting Person (See Instructions) IV

CUSIP No. 46428R107

	1.	Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only) Rydex Variable Trust Absolute Return Strategies Fund

	2.	Check the Appropriate Box if a Member of a Group (See Instructions)
		(a)		o
		(b)		x

	3.	SEC Use Only

	4.	Citizenship or Place of Organization Delaware

Number of Shares Beneficially Owned by Each Reporting Person With			5.		Sole Voting Power -0-shares

			6.		Shared Voting Power 23,197 shares

			7.		Sole Dispositive Power -0-shares

			8.		Shared Dispositive Power 23,197 shares

	9.	Aggregate Amount Beneficially Owned by Each Reporting Person 23,197 shares

	10.	Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) o Not applicable

	11.	Percent of Class Represented by Amount in Row (9) 0.26%

	12.	Type of Reporting Person (See Instructions) IV

Item 1.
	(a)	Name of Issuer iShares GSCI Commodity-Indexed Trust (the “Issuer”)
	(b)	Address of Issuer’s Principal Executive Offices c/o Barclays Global Investors 45 Fremont Street San Francisco, CA 94105

Item 2.
	(a)	Name of Person Filing The names of the persons filing this statement on Schedule 13G are:
		· Rydex Holdings, Inc. – Parent holding company of PADCO Advisors, Inc, PADCO Advisors II, Inc., Rydex Series Funds Commodities Strategy Fund, Rydex Series Funds Absolute Return Strategies Fund, Rydex Variable Trust Commodities Strategy Fund, and Rydex Variable Trust Absolute Return Strategies Fund. Rydex Holdings, Inc. is a wholly-owned subsidiary of Rydex NV, Inc.
		· PADCO Advisors, Inc. – Investment adviser to Rydex Series Funds (“PADCO I”)
		· PADCO Advisors II, Inc. – Investment adviser to Rydex Variable Trust (“PADCO II”)
		· Rydex Series Funds Commodities Strategy Fund – A series of Rydex Series Funds (the “Commodities Strategy Fund”)
		· Rydex Series Funds Absolute Return Strategies Fund – A series of Rydex Series Funds (the “ARS Fund”)
		· Rydex Variable Trust Commodities Strategy Fund – A series of Rydex Variable Trust (the “VA Commodities Strategy Fund”)
		· Rydex Variable Trust Absolute Return Strategies Fund – A series of Rydex Variable Trust (the “VA ARS Fund”)
		PADCO I has the power to vote and dispose of the securities held by the Commodities Strategy Fund and the ARS Fund. PADCO II has the power to vote and dispose of the securities held by the VA Commodities Strategy Fund and the VA ARS Fund.
	(b)	Address of Principal Business Office or, if none, Residence The address of the principal business office of Rydex Holdings, Inc., PADCO I, PADCO II, the Commodities Strategy Fund, the ARS Fund, the VA Commodities Strategy Fund, and the VA ARS Fund is 9601 Blackwell Road, Suite 500, Rockville, Maryland 20850.
	(c)	Citizenship Rydex Holdings, Inc. is a Delaware corporation. PADCO I and PADCO II are Maryland corporations.

			Rydex Series Funds and Rydex Variable Trust are Delaware statutory trusts. The Commodities Strategy Fund and the ARS Fund are series of Rydex Series Funds, and the VA Commodities Strategy Fund and the VA ARS Fund are series of Rydex Variable Trust.
	(d)		Title of Class of Securities Common Stock, no par value (“Common Stock”).
	(e)		CUSIP Number 46428R107

Item 3.	If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
	(a)		o		Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).
	(b)		o		Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).
	(c)		o		Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).
	(d)		x		Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8).
	(e)		x		An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);
	(f)		o		An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F);
	(g)		x		A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
	(h)		o		A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
	(i)		o		A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
	(j)		o		Group, in accordance with §240.13d-1(b)(1)(ii)(J).

Item 4.		Ownership
Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.
		(a)		Amount beneficially owned: (i) Rydex Holdings, Inc. may be deemed to own beneficially 495,255 shares of Common Stock as of December 31, 2007.
				(ii) PADCO I may be deemed to own beneficially 279,910 shares of Common Stock as of December 31, 2007.
				(iii) PADCO II may be deemed to own beneficially 215,345 shares of Common Stock as of December 31, 2007.
				(iv) The Commodities Strategy Fund may be deemed to own beneficially 49,970 shares of Common Stock as of December 31, 2007.

	(v) The ARS Fund may be deemed to own beneficially 229,940 shares of Common Stock as of December 31, 2007.
	(vi) The VA Commodities Strategy Fund may be deemed to own beneficially 192,148 shares of Common Stock as of December 31, 2007.
	(vii) The VA ARS Fund may be deemed to own beneficially 23,197 shares of Common Stock as of December 31, 2007.
	(viii) Collectively, the Reporting Persons beneficially own 495,255 shares of Common Stock.
(b)	Percent of class: (i) Rydex Holdings, Inc.’s beneficial ownership of 495,255 shares of Common Stock represents 5.66% of all outstanding shares of Common Stock as of December 31, 2007.
	(ii) PADCO I’s beneficial ownership of 279,910 shares of Common Stock represents 3.20% of all outstanding shares of Common Stock as of December 31, 2007.
	(iii) PADCO II’s beneficial ownership of 215,345 shares of Common Stock represents 2.46% of all outstanding shares of Common Stock as of December 31, 2007.
	(iv) The Commodities Strategy Fund’s beneficial ownership of 49,970 shares of Common Stock represents 0.57% of all outstanding shares of Common Stock as of December 31, 2007.
	(v) The ARS Fund’s beneficial ownership of 229,940 shares of Common Stock represents 2.63% of all outstanding shares of Common Stock as of December 31, 2007.
	(vi) The VA Commodities Strategy Fund’s beneficial ownership of 192,148 shares of Common Stock represents 2.20% of all outstanding shares of Common Stock as of December 31, 2007.
	(vii) The VA ARS Fund’s beneficial ownership of 23,197 shares of Common Stock represents 0.27% of all outstanding shares of Common Stock as of December 31, 2007.
	(viii) Collectively, the Reporting Persons’ beneficial ownership of 495,255 shares of Common Stock represents 5.66% of all outstanding shares of Common Stock as of December 31, 2007.
(c)	Number of shares as to which the person has:
	(i)	Sole power to vote or to direct the vote Not applicable.

		(ii)	Shared power to vote or to direct the vote PADCO I and the Commodities Strategy Fund share the power to vote or direct the vote of 49,970 shares of Common Stock.
			PADCO I and the ARS Fund share the power to vote or direct the vote of 229,940 shares of Common Stock.
			PADCO II and the VA Commodities Fund share the power to vote or direct the vote of 192,148 shares of Common Stock.
			PADCO II and the VA ARS Fund share the power to vote or direct the vote of 23,197 shares of Common Stock.
		(iii)	Sole power to dispose or to direct the disposition of Not applicable.
		(iv)	Shared power to dispose or to direct the disposition of PADCO I and the Commodities Fund share the power to dispose or to direct the disposition of 49,970 shares of Common Stock.
			PADCO I and the ARS Fund share the power to dispose or to direct the disposition of 229,940 shares of Common Stock.
			PADCO II and the VA Commodities Fund share the power to dispose or to direct disposition of 192,148 shares of Common Stock.
			PADCO II and the VA ARS Fund share the power to dispose or to direct disposition of 23,197 shares of Common Stock.

Item 5.	Ownership of Five Percent or Less of a Class
If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following o.

Item 6.	Ownership of More than Five Percent on Behalf of Another Person
Not applicable.

Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company
Not applicable.

Item 8.	Identification and Classification of Members of the Group

Item 9.	Notice of Dissolution of Group
Notice of dissolution of a group may be furnished as an exhibit stating the date of the dissolution and that all further filings with respect to transactions in the security reported on will be filed, if required, by members of the group, in their individual capacity. See Item 5.
Not applicable.

Item 10.	Certification
By signing below we certify that, to the best of our knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

SIGNATURE

After reasonable inquiry and to the best of our knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct.

Dated:		January 7, 2008

		RYDEX HOLDINGS, INC.

By:	*
	Carl G. Verboncoeur
	President

	*By:	/s/Joanna Haigney
		Joanna Haigney
		Attorney-in-Fact, pursuant to the powers of attorney filed herewith as Exhibit B.

PADCO ADVISORS, INC.

By:	/s/Joanna Haigney
	Joanna Haigney
	Chief Compliance Officer

RYDEX SERIES FUNDS COMMODITIES STRATEGY FUND

By:	/s/Joanna Haigney
	Joanna Haigney
	Chief Compliance Officer

RYDEX SERIES FUNDS ABSOLUTE RETURN STRATEGIES FUND

By:	/s/Joanna Haigney
	Joanna Haigney
	Chief Compliance Officer

PADCO ADVISORS II, INC.

By:	/s/Joanna Haigney
	Joanna Haigney
	Chief Compliance Officer

RYDEX VARIABLE TRUST COMMODITIES STRATEGY FUND

By:	/s/Joanna Haigney
	Joanna Haigney
	Chief Compliance Officer

RYDEX VARIABLE TRUST ABSOLUTE RETURN STRATEGIES FUND

By:	/s/Joanna Haigney
	Joanna Haigney
	Chief Compliance Officer

EXHIBIT A

JOINT FILING AGREEMENT

The undersigned hereby agree that the statement on Schedule 13G with respect to the Common Stock of iShares GSCI Commodity-Indexed Trust, dated as of December 31, 2007, is, and any further amendments thereto signed by each of the undersigned shall be, filed on behalf of each of the undersigned pursuant to and in accordance with the provisions of Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended.

Dated:	January 7, 2008

		RYDEX HOLDINGS, INC.

By:	*
	Carl G. Verboncoeur
	President

	*By:	/s/Joanna Haigney
		Joanna Haigney
		Attorney-in-Fact, pursuant to the powers of attorney filed herewith as Exhibit B.

PADCO ADVISORS, INC.

By:	/s/Joanna Haigney
	Joanna Haigney, Chief Compliance Officer

RYDEX SERIES FUNDS COMMODITIES FUND

By:	/s/Joanna Haigney
	Joanna Haigney, Chief Compliance Officer

RYDEX SERIES FUNDS ABSOLUTE RETURN STRATEGIES FUND

By:	/s/Joanna Haigney
	Joanna Haigney, Chief Compliance Officer

PADCO ADVISORS II, INC.

By:	/s/Joanna Haigney
	Joanna Haigney, Chief Compliance Officer

RYDEX VARIABLE TRUST COMMODITIES FUND

By:	/s/Joanna Haigney
	Joanna Haigney, Chief Compliance Officer

RYDEX VARIABLE TRUST ABSOLUTE RETURN STRATEGIES FUND

By:	/s/Joanna Haigney
	Joanna Haigney, Chief Compliance Officer

EXHIBIT B

POWER OF ATTORNEY

and

JOINT FILING AGREEMENT

Carl G. Verboncoeur hereby appoints Joanna Haigney his true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, to sign for him and in his place and stead, in any and all capacities, including as President of Rydex Holdings, Inc., a Schedule 13G pursuant to Rule 13d-1 under the Securities Exchange Act of 1934, as amended, and any amendments to such schedule filed pursuant to Rule 13d-2 under the Act, for the purpose of reporting joint beneficial ownership of securities acquired by Rydex Holdings, Inc., and to file such Schedule 13G, on an individual or joint basis, with the Securities and Exchange Commission, granting unto said attorney-in-fact and agent full power and authority to do all and perform each and every act requisite and necessary to effect such filing, as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorney-in-fact and agent or substitutes, may lawfully do or cause to be done by virtue hereof.

In accordance with Rule 13d-1(k)(l), Carl G. Verboncoeur hereby consents both individually and on behalf of Rydex Holdings, Inc., as President, to the joint filing on behalf of Rydex Holdings, Inc. of a Schedule 13G reporting joint beneficial ownership of securities acquired by Rydex Holdings, Inc.

Date: January 7, 2008		/s/ Carl G. Verboncoeur
		CARL G. VERBONCOEUR
		PRESIDENT, RYDEX HOLDINGS, INC.


		/s/ Carl G. Verboncoeur
		RYDEX HOLDINGS, INC.
		BY: CARL G. VERBONCOEUR
		PRESIDENT