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        <curCd>USD</curCd>
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        <assetCat>DCO</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>CME Clearing House</counterpartyName>
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                <issuerName>N/A</issuerName>
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                  <ticker value="BOK0 Comdty"/>
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              </otherRefInst>
            </descRefInstrmnt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Lead Base Metal</title>
        <cusip>N/A</cusip>
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          <isin value="GB00H242CZ83"/>
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        <balance>22.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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            <expDate>2020-04-29</expDate>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Aluminum Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H2491634"/>
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        <balance>3.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <assetCat>DCO</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Zinc Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H245ZJ26"/>
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        <balance>3.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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              <otherRefInst>
                <issuerName>N/A</issuerName>
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                  <isin value="GB00H245ZJ26"/>
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            <expDate>2020-04-06</expDate>
            <notionalAmt>142175.25000000</notionalAmt>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Feeder Cattle</title>
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          <other otherDesc="Inhouse Asset ID" value="FCK20"/>
          <other otherDesc="Future Ticker" value="FCK0 Comdty"/>
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        <balance>61.00000000</balance>
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        <assetCat>DCO</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

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              <counterpartyName>CME Clearing House</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <ticker value="FCK0 Comdty"/>
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            <expDate>2020-05-21</expDate>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Lead Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H248NM06"/>
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        <balance>2.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <assetCat>DCO</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <isin value="GB00H248NM06"/>
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            <expDate>2020-06-16</expDate>
            <notionalAmt>87122.00000000</notionalAmt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Lead Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H2497987"/>
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        <balance>2.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>2134.00000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Lead Base Metal</title>
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          <isin value="GB00FVN2QY14"/>
          <other otherDesc="Future Ticker" value="LLM0 Comdty"/>
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        <balance>-201.00000000</balance>
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        <fairValLevel>1</fairValLevel>
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            <expDate>2020-06-17</expDate>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Aluminum Base Metal</title>
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          <isin value="GB00H2493895"/>
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      <invstOrSec>
        <name>Goldman Sachs Financial Square Funds - Treasury Instruments Fund</name>
        <lei>N/A</lei>
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          <other otherDesc="Inhouse Asset ID" value="38142B500"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Copper Base Metal</title>
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          <isin value="GB00H2491G38"/>
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        <balance>11.00000000</balance>
        <units>NC</units>
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            <expDate>2020-06-25</expDate>
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        <name>N/A</name>
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        <title>LME Aluminum Base Metal</title>
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        <name>N/A</name>
        <lei>N/A</lei>
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          <isin value="GB00H2426V21"/>
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        <isRestrictedSec>N</isRestrictedSec>

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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Total Return Swap</title>
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        <identifiers>
          <ticker value="SMK0 Comdty"/>
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        <balance>4018750.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <swapDeriv derivCat="SWP">
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            <descRefInstrmnt>
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            <swapFlag>Y</swapFlag>
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            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="Decreases in total return of Soybean Meal May Futures" floatingRtSpread="0.00000000" pmntAmt="0.00000000">
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                <rtResetTenor rateTenor="Month" rateTenorUnit="0" resetDt="Month" resetDtUnit="0"/>
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            <terminationDt>2020-04-24</terminationDt>
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            <upfrontRcpt>0.00000000</upfrontRcpt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Lead Base Metal</title>
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          <isin value="GB00H248BB52"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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                <issuerName>N/A</issuerName>
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            </descRefInstrmnt>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Zinc Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H248HY00"/>
        </identifiers>
        <balance>2.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-4697.35000000</valUSD>
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        <assetCat>DCO</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                  <isin value="GB00H248HY00"/>
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            </descRefInstrmnt>
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        </derivativeInfo>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Lead Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H23S2D52"/>
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        <balance>-10.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DCO</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
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                  <isin value="GB00H23S2D52"/>
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            <expDate>2020-05-05</expDate>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Copper Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H248D313"/>
        </identifiers>
        <balance>-26.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <isin value="GB00H248D313"/>
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            </descRefInstrmnt>
            <expDate>2020-06-09</expDate>
            <notionalAmt>-3218501.00000000</notionalAmt>
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            <unrealizedAppr>353233.24000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Lead Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H242CZ83"/>
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        <balance>-22.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>74309.36000000</valUSD>
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        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
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              <otherRefInst>
                <issuerName>N/A</issuerName>
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                  <isin value="GB00H242CZ83"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-04-29</expDate>
            <notionalAmt>-957385.00000000</notionalAmt>
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            <unrealizedAppr>74309.36000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Aluminum Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H2489K02"/>
        </identifiers>
        <balance>81.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-422346.66000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
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                  <isin value="GB00H2489K02"/>
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            <expDate>2020-06-05</expDate>
            <notionalAmt>3077858.25000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-422346.66000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Nickel Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00FVN0F931"/>
          <other otherDesc="Future Ticker" value="LNJ0 Comdty"/>
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        <balance>15.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-218969.25000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <isin value="GB00FVN0F931"/>
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            </descRefInstrmnt>
            <expDate>2020-04-15</expDate>
            <notionalAmt>1029870.00000000</notionalAmt>
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            <unrealizedAppr>-218969.25000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Zinc Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00FVN2R262"/>
          <other otherDesc="Future Ticker" value="LXM0 Comdty"/>
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        <balance>440.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-3791746.25000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <isin value="GB00FVN2R262"/>
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            <expDate>2020-06-17</expDate>
            <notionalAmt>20952250.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-3791746.25000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Aluminum Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H23FYH49"/>
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        <balance>49.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-230413.13000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                  <isin value="GB00H23FYH49"/>
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            <expDate>2020-06-02</expDate>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Cotton No. 2</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Sedol" value="CTN0COM"/>
          <other otherDesc="Future Ticker" value="CTN0 Comdty"/>
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        <balance>5.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-1369.74000000</valUSD>
        <pctVal>-0.00096809225</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>ICE Clear US</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <ticker value="CTN0 Comdty"/>
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            <expDate>2020-07-09</expDate>
            <notionalAmt>127250.00000000</notionalAmt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Aluminum Base Metal</title>
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        <identifiers>
          <isin value="GB00H244FZ54"/>
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        <balance>45.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                  <isin value="GB00H244FZ54"/>
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            <expDate>2020-06-03</expDate>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Copper Base Metal</title>
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        <identifiers>
          <isin value="GB00H243G481"/>
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        <balance>-6.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DCO</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <isin value="GB00H243G481"/>
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            <expDate>2020-05-13</expDate>
            <notionalAmt>-742135.50000000</notionalAmt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Copper Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H248R958"/>
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        <balance>-28.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DCO</assetCat>
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        <name>N/A</name>
        <lei>N/A</lei>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <isin value="GB00H248HK63"/>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <isin value="GB00H246T826"/>
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        <isRestrictedSec>N</isRestrictedSec>

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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
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          <ticker value="CTK0 Comdty"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <swapDeriv derivCat="SWP">
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              <counterpartyName>Citibank</counterpartyName>
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                <issuerName>N/A</issuerName>
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      <invstOrSec>
        <name>N/A</name>
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          <isin value="GB00H2465620"/>
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              <counterpartyName>LME Clear</counterpartyName>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <isin value="GB00H246TD78"/>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <isin value="GB00H246SM94"/>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Sugar No. 11</title>
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          <other otherDesc="Inhouse Sedol" value="SBN0COS"/>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>ICE Clear US</counterpartyName>
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        <name>N/A</name>
        <lei>N/A</lei>
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          <isin value="GB00H2465B76"/>
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        <name>N/A</name>
        <lei>N/A</lei>
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          <isin value="GB00H248K631"/>
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        <name>N/A</name>
        <lei>N/A</lei>
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          <isin value="GB00H243DS15"/>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Copper Base Metal</title>
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          <isin value="GB00H247QY00"/>
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        <balance>-79.00000000</balance>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Aluminum Base Metal</title>
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          <isin value="GB00H245X101"/>
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        <balance>40.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-308770.11000000</valUSD>
        <pctVal>-0.21822970149</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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              <otherRefInst>
                <issuerName>N/A</issuerName>
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                  <isin value="GB00H245X101"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-04-03</expDate>
            <notionalAmt>1493190.00000000</notionalAmt>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Zinc Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H247N165"/>
        </identifiers>
        <balance>14.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-84258.30000000</valUSD>
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        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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              <otherRefInst>
                <issuerName>N/A</issuerName>
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                  <isin value="GB00H247N165"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-05-19</expDate>
            <notionalAmt>665833.00000000</notionalAmt>
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        </derivativeInfo>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Nickel Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H243HZ61"/>
        </identifiers>
        <balance>-4.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>21682.20000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
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              <otherRefInst>
                <issuerName>N/A</issuerName>
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                  <isin value="GB00H243HZ61"/>
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            </descRefInstrmnt>
            <expDate>2020-05-27</expDate>
            <notionalAmt>-275226.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>21682.20000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Lead Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H242CR00"/>
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        <balance>6.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-27502.20000000</valUSD>
        <pctVal>-0.01943775223</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>LME Clear</counterpartyName>
              <counterpartyLei>213800L8AQD59D3JRW81</counterpartyLei>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>LME Lead Base Metal</issueTitle>
                <identifiers>
                  <isin value="GB00H242CR00"/>
                </identifiers>
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            </descRefInstrmnt>
            <expDate>2020-04-08</expDate>
            <notionalAmt>260440.50000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-27502.20000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Lean Hogs</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Sedol" value="LHM0COM"/>
          <other otherDesc="Future Ticker" value="LHM0 Comdty"/>
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        <balance>11.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-49841.82000000</valUSD>
        <pctVal>-0.03522674361</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>CME Clearing House</counterpartyName>
              <counterpartyLei>LCZ7XYGSLJUHFXXNXD88</counterpartyLei>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
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                <identifiers>
                  <ticker value="LHM0 Comdty"/>
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            </descRefInstrmnt>
            <expDate>2020-06-12</expDate>
            <notionalAmt>265430.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-49841.82000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Zinc Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H243KK22"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-7256.70000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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              <otherRefInst>
                <issuerName>N/A</issuerName>
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                <identifiers>
                  <isin value="GB00H243KK22"/>
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            </descRefInstrmnt>
            <expDate>2020-05-06</expDate>
            <notionalAmt>47521.25000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-7256.70000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Copper Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H23FZX71"/>
        </identifiers>
        <balance>-60.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>1082787.69000000</valUSD>
        <pctVal>0.765282735348</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
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              <otherRefInst>
                <issuerName>N/A</issuerName>
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                  <isin value="GB00H23FZX71"/>
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            <expDate>2020-06-02</expDate>
            <notionalAmt>-7423020.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>1082787.69000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Total Return Swap</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="LCM0 Comdty"/>
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        <balance>-7439660.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Swap" issuerCat="OTHER"/>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>Societe Generale</counterpartyName>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
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                  <cusip value="N/A"/>
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            <swapFlag>Y</swapFlag>
            <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="Decreases in total return of Live Cattle June Futures" floatingRtSpread="0.00000000" pmntAmt="0.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Month" rateTenorUnit="0" resetDt="Month" resetDtUnit="0"/>
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            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="Increases in total return of Live Cattle June Futures" floatingRtSpread="0.00000000" pmntAmt="0.00000000">
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                <rtResetTenor rateTenor="Month" rateTenorUnit="0" resetDt="Month" resetDtUnit="0"/>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Zinc Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H23DWP27"/>
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        <balance>-13.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <assetCat>DCO</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <isin value="GB00H23DWP27"/>
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            <expDate>2020-05-05</expDate>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Natural Gas</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Asset ID" value="NGM20CO"/>
          <other otherDesc="Future Ticker" value="NGM0 20 Comdty"/>
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        <balance>-23.00000000</balance>
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        <assetCat>DCO</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>CME Clearing House</counterpartyName>
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            <payOffProf>Short</payOffProf>
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                <issuerName>N/A</issuerName>
                <issueTitle>Natural Gas</issueTitle>
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                  <ticker value="NGM0 20 Comdty"/>
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            <expDate>2020-05-27</expDate>
            <notionalAmt>-403880.00000000</notionalAmt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Zinc Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H248FN54"/>
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        <balance>13.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <assetCat>DCO</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <isin value="GB00H248FN54"/>
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            <expDate>2020-06-09</expDate>
            <notionalAmt>618783.75000000</notionalAmt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Aluminum Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H2426Q77"/>
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        <balance>-163.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <assetCat>DCO</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <isin value="GB00H2426Q77"/>
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            <expDate>2020-04-08</expDate>
            <notionalAmt>-6098848.75000000</notionalAmt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bills</title>
        <cusip>912796XG9</cusip>
        <identifiers>
          <isin value="US912796XG90"/>
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        <balance>9618000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9614431.43000000</valUSD>
        <pctVal>6.795199512817</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-08-27</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Copper Base Metal</title>
        <cusip>N/A</cusip>
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          <isin value="GB00H245YR35"/>
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        <balance>12.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-348668.40000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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              </otherRefInst>
            </descRefInstrmnt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H2497987"/>
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        <balance>-2.00000000</balance>
        <units>NC</units>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
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                <issuerName>N/A</issuerName>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H247MS69"/>
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        <balance>-13.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>46111.65000000</valUSD>
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        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
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                <issuerName>N/A</issuerName>
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            <expDate>2020-05-19</expDate>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <identifiers>
          <ticker value="SMK0 Comdty"/>
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        <balance>-4018750.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>23406.04000000</valUSD>
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        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>Macquarie Bank</counterpartyName>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
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            <swapFlag>Y</swapFlag>
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                <rtResetTenor rateTenor="Month" rateTenorUnit="0" resetDt="Month" resetDtUnit="0"/>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Nickel Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H2479D03"/>
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        <balance>7.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-71567.77000000</valUSD>
        <pctVal>-0.05058201094</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <isin value="GB00H2479D03"/>
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            <expDate>2020-05-11</expDate>
            <notionalAmt>481262.88000000</notionalAmt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Aluminum Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H243DX67"/>
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        <balance>-111.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DCO</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <isin value="GB00H243DX67"/>
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            <expDate>2020-05-27</expDate>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="S K0 Comdty"/>
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        <curCd>USD</curCd>
        <valUSD>70188.00000000</valUSD>
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        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <swapDeriv derivCat="SWP">
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              <counterpartyName>Goldman Sachs International</counterpartyName>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
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            <swapFlag>Y</swapFlag>
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        <securityLending>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Copper Base Metal</title>
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          <isin value="GB00H2428N86"/>
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              <counterpartyName>LME Clear</counterpartyName>
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                <issuerName>N/A</issuerName>
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                  <isin value="GB00H2428N86"/>
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            <expDate>2020-04-22</expDate>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <cusip>912796UA5</cusip>
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          <isin value="US912796UA57"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Aluminum Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H248XF37"/>
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        <balance>-4.00000000</balance>
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            <payOffProf>Short</payOffProf>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Soybean</title>
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          <other otherDesc="Inhouse Asset ID" value="SK20"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Lead Base Metal</title>
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          <isin value="GB00FVN2QY14"/>
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        <balance>220.00000000</balance>
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            <payOffProf>Long</payOffProf>
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            <expDate>2020-06-17</expDate>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Aluminum Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H248XF37"/>
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        <balance>4.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-3519.80000000</valUSD>
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        <assetCat>DCO</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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                <issuerName>N/A</issuerName>
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                  <isin value="GB00H248XF37"/>
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            </descRefInstrmnt>
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        </derivativeInfo>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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          <isin value="GB00H2497102"/>
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        <curCd>USD</curCd>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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              <counterpartyName>LME Clear</counterpartyName>
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                <issuerName>N/A</issuerName>
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            </descRefInstrmnt>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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          <isin value="GB00H248KB85"/>
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        <balance>17.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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          <isin value="GB00H246HY44"/>
        </identifiers>
        <balance>103.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <assetCat>DCO</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <isin value="GB00H246HY44"/>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Lead Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H248KB85"/>
        </identifiers>
        <balance>-17.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <assetCat>DCO</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
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                  <isin value="GB00H248KB85"/>
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            <unrealizedAppr>5394.10000000</unrealizedAppr>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Zinc Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H247HJ26"/>
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        <balance>-55.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>341232.46000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <isin value="GB00H247HJ26"/>
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            <expDate>2020-05-14</expDate>
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            <curCd>USD</curCd>
            <unrealizedAppr>341232.46000000</unrealizedAppr>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Lead Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H243JL65"/>
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        <balance>-28.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>52981.86000000</valUSD>
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        <assetCat>DCO</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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                  <isin value="GB00H243JL65"/>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <identifiers>
          <ticker value="LHJ0 Comdty"/>
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        <balance>647280.00000000</balance>
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        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <swapDeriv derivCat="SWP">
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              <counterpartyName>Macquarie Bank</counterpartyName>
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                <issuerName>N/A</issuerName>
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      <invstOrSec>
        <name>N/A</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>Societe Generale</counterpartyName>
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                <issuerName>N/A</issuerName>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Lead Base Metal</title>
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          <isin value="GB00H248RT54"/>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <isin value="GB00H247W752"/>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <isin value="GB00H247QF11"/>
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            <payOffProf>Short</payOffProf>
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      <invstOrSec>
        <name>N/A</name>
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          <isin value="GB00H2497T86"/>
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        <isRestrictedSec>N</isRestrictedSec>

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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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            <expDate>2020-06-30</expDate>
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        <lei>N/A</lei>
        <title>Wheat</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="WK20"/>
          <other otherDesc="Future Ticker" value="W K0 Comdty"/>
        </identifiers>
        <balance>-40.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-89440.88000000</valUSD>
        <pctVal>-0.06321420342</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>CME Clearing House</counterpartyName>
              <counterpartyLei>LCZ7XYGSLJUHFXXNXD88</counterpartyLei>
            </counterparties>
            <payOffProf>Short</payOffProf>
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              <otherRefInst>
                <issuerName>N/A</issuerName>
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                  <ticker value="W K0 Comdty"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-05-14</expDate>
            <notionalAmt>-1137500.00000000</notionalAmt>
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            <unrealizedAppr>-89440.88000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Zinc Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H244N733"/>
        </identifiers>
        <balance>-43.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>119681.90000000</valUSD>
        <pctVal>0.084587673695</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>LME Clear</counterpartyName>
              <counterpartyLei>213800L8AQD59D3JRW81</counterpartyLei>
            </counterparties>
            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>LME Zinc Base Metal</issueTitle>
                <identifiers>
                  <isin value="GB00H244N733"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-06-10</expDate>
            <notionalAmt>-2046853.75000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>119681.90000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Total Return Swap</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="CCK0 Comdty"/>
        </identifiers>
        <balance>112450.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-28571.66000000</valUSD>
        <pctVal>-0.02019361535</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Swap" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>Goldman Sachs International</counterpartyName>
              <counterpartyLei>W22LROWP2IHZNBB6K528</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>N/A</issueTitle>
                <identifiers>
                  <cusip value="N/A"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="Increases in total return of Cocoa May Futures" floatingRtSpread="0.00000000" pmntAmt="0.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Month" rateTenorUnit="0" resetDt="Month" resetDtUnit="0"/>
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            </floatingRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="Decreases in total return of Cocoa May Futures" floatingRtSpread="0.00000000" pmntAmt="0.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Month" rateTenorUnit="0" resetDt="Month" resetDtUnit="0"/>
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            <terminationDt>2020-04-03</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
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            <curCd>USD</curCd>
            <unrealizedAppr>-28571.66000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Nickel Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H248DW06"/>
        </identifiers>
        <balance>9.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-47276.55000000</valUSD>
        <pctVal>-0.03341368565</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>LME Clear</counterpartyName>
              <counterpartyLei>213800L8AQD59D3JRW81</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>LME Nickel Base Metal</issueTitle>
                <identifiers>
                  <isin value="GB00H248DW06"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-06-09</expDate>
            <notionalAmt>619731.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-47276.55000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Zinc Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H246TN76"/>
        </identifiers>
        <balance>5.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-35891.00000000</valUSD>
        <pctVal>-0.02536671122</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>LME Clear</counterpartyName>
              <counterpartyLei>213800L8AQD59D3JRW81</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>LME Zinc Base Metal</issueTitle>
                <identifiers>
                  <isin value="GB00H246TN76"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-04-30</expDate>
            <notionalAmt>237496.25000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-35891.00000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Zinc Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H247F104"/>
        </identifiers>
        <balance>-49.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>301352.70000000</valUSD>
        <pctVal>0.212987292606</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>LME Clear</counterpartyName>
              <counterpartyLei>213800L8AQD59D3JRW81</counterpartyLei>
            </counterparties>
            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>LME Zinc Base Metal</issueTitle>
                <identifiers>
                  <isin value="GB00H247F104"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-05-12</expDate>
            <notionalAmt>-2329435.50000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>301352.70000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Total Return Swap</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="LCJ0 Comdty"/>
        </identifiers>
        <balance>-366570.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>87462.00000000</valUSD>
        <pctVal>0.061815588796</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Swap" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>Goldman Sachs International</counterpartyName>
              <counterpartyLei>W22LROWP2IHZNBB6K528</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>N/A</issueTitle>
                <identifiers>
                  <cusip value="N/A"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="Decreases in total return of Live Cattle April Futures" floatingRtSpread="0.00000000" pmntAmt="0.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Month" rateTenorUnit="0" resetDt="Month" resetDtUnit="0"/>
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            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="Increases in total return of Live Cattle April Futures" floatingRtSpread="0.00000000" pmntAmt="0.00000000">
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                <rtResetTenor rateTenor="Month" rateTenorUnit="0" resetDt="Month" resetDtUnit="0"/>
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            <terminationDt>2020-04-03</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
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            <notionalAmt>-366570.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>87462.00000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Zinc Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H248KL83"/>
        </identifiers>
        <balance>-10.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>13150.41000000</valUSD>
        <pctVal>0.009294325959</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>LME Clear</counterpartyName>
              <counterpartyLei>213800L8AQD59D3JRW81</counterpartyLei>
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            <payOffProf>Short</payOffProf>
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              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>LME Zinc Base Metal</issueTitle>
                <identifiers>
                  <isin value="GB00H248KL83"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-06-12</expDate>
            <notionalAmt>-476062.50000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>13150.41000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Aluminum Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H243DX67"/>
        </identifiers>
        <balance>111.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-484955.71000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>LME Aluminum Base Metal</issueTitle>
                <identifiers>
                  <isin value="GB00H243DX67"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-05-27</expDate>
            <notionalAmt>4208981.25000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-484955.71000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Copper Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H2489T94"/>
        </identifiers>
        <balance>36.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-675804.70000000</valUSD>
        <pctVal>-0.47763903686</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
              <counterpartyLei>213800L8AQD59D3JRW81</counterpartyLei>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>LME Copper Base Metal</issueTitle>
                <identifiers>
                  <isin value="GB00H2489T94"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-06-05</expDate>
            <notionalAmt>4454739.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-675804.70000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Aluminum Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H248GX28"/>
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        <balance>-99.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>412246.79000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <isin value="GB00H248GX28"/>
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            </descRefInstrmnt>
            <expDate>2020-06-11</expDate>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Lead Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H243JB67"/>
        </identifiers>
        <balance>-1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>1958.30000000</valUSD>
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        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
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              <otherRefInst>
                <issuerName>N/A</issuerName>
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                  <isin value="GB00H243JB67"/>
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            </descRefInstrmnt>
            <expDate>2020-05-06</expDate>
            <notionalAmt>-43538.75000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>1958.30000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Zinc Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H248VP94"/>
        </identifiers>
        <balance>7.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>5392.15000000</valUSD>
        <pctVal>0.003811014236</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <isin value="GB00H248VP94"/>
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              </otherRefInst>
            </descRefInstrmnt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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          <isin value="GB00H244G745"/>
        </identifiers>
        <balance>-1.00000000</balance>
        <units>NC</units>
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        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
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                <issuerName>N/A</issuerName>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <ticker value="W K0 Comdty"/>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>Citibank</counterpartyName>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Copper Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H244HR11"/>
        </identifiers>
        <balance>-30.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
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              <otherRefInst>
                <issuerName>N/A</issuerName>
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                  <isin value="GB00H244HR11"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-06-10</expDate>
            <notionalAmt>-3714000.00000000</notionalAmt>
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            <unrealizedAppr>483921.70000000</unrealizedAppr>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Nickel Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H242C474"/>
        </identifiers>
        <balance>27.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-196128.81000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>LME Nickel Base Metal</issueTitle>
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                  <isin value="GB00H242C474"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-04-29</expDate>
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            <unrealizedAppr>-196128.81000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Lead Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H248NM06"/>
        </identifiers>
        <balance>-2.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-1327.90000000</valUSD>
        <pctVal>-0.00093852096</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
              <counterpartyLei>213800L8AQD59D3JRW81</counterpartyLei>
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            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>LME Lead Base Metal</issueTitle>
                <identifiers>
                  <isin value="GB00H248NM06"/>
                </identifiers>
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            <expDate>2020-06-16</expDate>
            <notionalAmt>-87122.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-1327.90000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Zinc Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H248ZH90"/>
        </identifiers>
        <balance>7.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>14421.55000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>LME Zinc Base Metal</issueTitle>
                <identifiers>
                  <isin value="GB00H248ZH90"/>
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            <expDate>2020-06-23</expDate>
            <notionalAmt>333235.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>14421.55000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Live Cattle</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Sedol" value="LCM0COS"/>
          <other otherDesc="Future Ticker" value="LCM0 Comdty"/>
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        <balance>-9.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>19303.05000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>CME Clearing House</counterpartyName>
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            <payOffProf>Short</payOffProf>
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                  <ticker value="LCM0 Comdty"/>
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            <expDate>2020-06-30</expDate>
            <notionalAmt>-331470.00000000</notionalAmt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Lead Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H244LK20"/>
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        <balance>6.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                  <isin value="GB00H244LK20"/>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Nickel Base Metal</title>
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        <identifiers>
          <isin value="GB00H248HK63"/>
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        <balance>6.00000000</balance>
        <units>NC</units>
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              <counterpartyName>LME Clear</counterpartyName>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Aluminum Base Metal</title>
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        <identifiers>
          <isin value="GB00H243DS15"/>
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        <balance>-12.00000000</balance>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Aluminum Base Metal</title>
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          <isin value="GB00H248R172"/>
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        <name>N/A</name>
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          <ticker value="S K0 Comdty"/>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>N/A</name>
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        <name>N/A</name>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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          <isin value="GB00H248JK04"/>
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        <balance>64.00000000</balance>
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        <name>N/A</name>
        <lei>N/A</lei>
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        <name>N/A</name>
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          <isin value="GB00H248VF96"/>
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        <name>N/A</name>
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          <ticker value="SMK0 Comdty"/>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <ticker value="LHM0 Comdty"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <swapDeriv derivCat="SWP">
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              <counterpartyName>Macquarie Bank</counterpartyName>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
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                <rtResetTenor rateTenor="Month" rateTenorUnit="0" resetDt="Month" resetDtUnit="0"/>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Lead Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H242CW52"/>
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        <balance>-13.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Zinc Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H247F104"/>
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        <balance>49.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-306296.55000000</valUSD>
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        <assetCat>DCO</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <isin value="GB00H247F104"/>
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            <expDate>2020-05-12</expDate>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Lead Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00FVN0F717"/>
          <other otherDesc="Future Ticker" value="LLJ0 Comdty"/>
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        <balance>20.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <isin value="GB00FVN0F717"/>
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            <expDate>2020-04-15</expDate>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Copper Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H248TX31"/>
        </identifiers>
        <balance>-22.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-113771.22000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
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              <otherRefInst>
                <issuerName>N/A</issuerName>
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                  <isin value="GB00H248TX31"/>
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            <expDate>2020-06-19</expDate>
            <notionalAmt>-2721400.00000000</notionalAmt>
            <curCd>USD</curCd>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Copper Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H244HM65"/>
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        <balance>39.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-736044.05000000</valUSD>
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        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <isin value="GB00H244HM65"/>
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            <expDate>2020-06-03</expDate>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Copper Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H248XY26"/>
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        <balance>7.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <issuerConditional desc="Future" issuerCat="OTHER"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Zinc Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H245ZJ26"/>
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        <balance>-3.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

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              <counterpartyName>LME Clear</counterpartyName>
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                <issuerName>N/A</issuerName>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <isin value="GB00H247W752"/>
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        <balance>11.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <isin value="GB00H245X986"/>
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        <balance>11.00000000</balance>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <isin value="GB00H23DNV53"/>
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            <payOffProf>Long</payOffProf>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Copper Base Metal</title>
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        <identifiers>
          <isin value="GB00H248ML24"/>
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        <balance>-28.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>N/A</name>
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      <invstOrSec>
        <name>N/A</name>
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      <invstOrSec>
        <name>N/A</name>
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      <invstOrSec>
        <name>N/A</name>
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          <isin value="GB00H248ZH90"/>
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      <invstOrSec>
        <name>N/A</name>
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          <ticker value="LHJ0 Comdty"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
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          <isin value="GB00H246BJ72"/>
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      <invstOrSec>
        <name>N/A</name>
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          <other otherDesc="Inhouse Sedol" value="CLM0COS"/>
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        <name>N/A</name>
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        <name>N/A</name>
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        <name>N/A</name>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <isin value="GB00H1K80H14"/>
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        <isRestrictedSec>N</isRestrictedSec>

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              <counterpartyName>ICE Clear Europe</counterpartyName>
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            <payOffProf>Long</payOffProf>
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            <expDate>2020-06-11</expDate>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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          <isin value="GB00H248FN54"/>
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        <isRestrictedSec>N</isRestrictedSec>

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              <counterpartyName>LME Clear</counterpartyName>
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                  <isin value="GB00H248FN54"/>
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            <expDate>2020-06-09</expDate>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Zinc Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H245Y281"/>
        </identifiers>
        <balance>-10.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <assetCat>DCO</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
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              <otherRefInst>
                <issuerName>N/A</issuerName>
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                  <isin value="GB00H245Y281"/>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Lead Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H23T8292"/>
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        <balance>18.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-58607.10000000</valUSD>
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        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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            <expDate>2020-06-02</expDate>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Feeder Cattle</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Sedol" value="FCQ0COS"/>
          <other otherDesc="Future Ticker" value="FCQ0 Comdty"/>
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        <balance>-41.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>CME Clearing House</counterpartyName>
              <counterpartyLei>LCZ7XYGSLJUHFXXNXD88</counterpartyLei>
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            <payOffProf>Short</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <ticker value="FCQ0 Comdty"/>
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            <expDate>2020-08-27</expDate>
            <notionalAmt>-2642450.00000000</notionalAmt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Lead Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H2465B76"/>
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        <balance>-7.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>32410.85000000</valUSD>
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        <assetCat>DCO</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
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              <otherRefInst>
                <issuerName>N/A</issuerName>
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                  <isin value="GB00H2465B76"/>
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            <expDate>2020-04-14</expDate>
            <notionalAmt>-304293.50000000</notionalAmt>
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            <unrealizedAppr>32410.85000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Nickel Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H245XP46"/>
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        <balance>-2.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <assetCat>DCO</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <isin value="GB00H245XP46"/>
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            <expDate>2020-04-03</expDate>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <identifiers>
          <isin value="GB00FVN2R049"/>
          <other otherDesc="Future Ticker" value="LNM0 Comdty"/>
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        <balance>-192.00000000</balance>
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        <assetCat>DCO</assetCat>
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
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                <issuerName>N/A</issuerName>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Aluminum Base Metal</title>
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          <isin value="GB00H2426V21"/>
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        <balance>-98.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

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          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
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                  <isin value="GB00H2426V21"/>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Total Return Swap</title>
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          <ticker value="KCK0 Comdty"/>
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        <fairValLevel>2</fairValLevel>
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          <swapDeriv derivCat="SWP">
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      <invstOrSec>
        <name>N/A</name>
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          <isin value="GB00H248K631"/>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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            <expDate>2020-06-12</expDate>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <isin value="GB00H242BX94"/>
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
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              <otherRefInst>
                <issuerName>N/A</issuerName>
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                  <isin value="GB00H242BX94"/>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <isin value="GB00H242FK46"/>
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        <balance>-11.00000000</balance>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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                <issuerName>N/A</issuerName>
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                  <isin value="GB00H242FK46"/>
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            </descRefInstrmnt>
            <expDate>2020-04-22</expDate>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <cusip>9127962G3</cusip>
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          <isin value="US9127962G32"/>
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        <balance>6258000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6256274.04000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-09-17</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Nickel Base Metal</title>
        <cusip>N/A</cusip>
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          <isin value="GB00H248DW06"/>
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        <balance>-9.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DCO</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
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              <otherRefInst>
                <issuerName>N/A</issuerName>
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                  <isin value="GB00H248DW06"/>
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            <expDate>2020-06-09</expDate>
            <notionalAmt>-619731.00000000</notionalAmt>
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            <unrealizedAppr>52202.02000000</unrealizedAppr>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Aluminum Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H248R172"/>
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        <balance>24.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-60040.80000000</valUSD>
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        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>LME Clear</counterpartyName>
              <counterpartyLei>213800L8AQD59D3JRW81</counterpartyLei>
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            <payOffProf>Long</payOffProf>
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              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>LME Aluminum Base Metal</issueTitle>
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                  <isin value="GB00H248R172"/>
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            </descRefInstrmnt>
            <expDate>2020-06-18</expDate>
            <notionalAmt>913500.00000000</notionalAmt>
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            <unrealizedAppr>-60040.80000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Cocoa</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Sedol" value="CCN0COM"/>
          <other otherDesc="Future Ticker" value="CCN0 Comdty"/>
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        <balance>14.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-38083.84000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>ICE Clear US</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <ticker value="CCN0 Comdty"/>
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            <expDate>2020-07-16</expDate>
            <notionalAmt>316260.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-38083.84000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bills</title>
        <cusip>912796TT6</cusip>
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          <isin value="US912796TT67"/>
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        <balance>40000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>39997.45000000</valUSD>
        <pctVal>0.028269030231</pctVal>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-05-07</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Aluminum Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H2489K02"/>
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        <balance>-81.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
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                  <isin value="GB00H2489K02"/>
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            <expDate>2020-06-05</expDate>
            <notionalAmt>-3077858.25000000</notionalAmt>
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            <unrealizedAppr>419627.80000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bills</title>
        <cusip>912796WZ8</cusip>
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          <isin value="US912796WZ80"/>
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        <balance>11500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>11496541.49000000</valUSD>
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        <assetCat>STIV</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-08-06</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Copper Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00DV8VP267"/>
          <other otherDesc="Future Ticker" value="LPJ0 20 Comdty"/>
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        <balance>-3.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>99641.15000000</valUSD>
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        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
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                  <isin value="GB00DV8VP267"/>
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            <expDate>2020-04-15</expDate>
            <notionalAmt>-370743.75000000</notionalAmt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Copper Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H247D836"/>
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        <balance>9.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-182584.88000000</valUSD>
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        <assetCat>DCO</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <isin value="GB00H247D836"/>
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            <expDate>2020-05-12</expDate>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Platinum</title>
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          <other otherDesc="Inhouse Sedol" value="JAG1COM"/>
          <other otherDesc="Future Ticker" value="JAG1 Comdty"/>
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        <balance>13.00000000</balance>
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        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>Japan Commodity Clearing House</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <ticker value="JAG1 Comdty"/>
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            <expDate>2021-02-22</expDate>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Zinc Base Metal</title>
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        <identifiers>
          <isin value="GB00H247SH74"/>
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        <balance>-101.00000000</balance>
        <units>NC</units>
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        <invCountry>GB</invCountry>
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <isin value="GB00H247SH74"/>
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            <expDate>2020-05-26</expDate>
            <notionalAmt>-4804292.25000000</notionalAmt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Zinc Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H244N733"/>
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        <balance>43.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-114038.46000000</valUSD>
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        <assetCat>DCO</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <isin value="GB00H244N733"/>
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            <expDate>2020-06-10</expDate>
            <notionalAmt>2046853.75000000</notionalAmt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Aluminum Base Metal</title>
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        <identifiers>
          <isin value="GB00H248CL26"/>
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        <balance>39.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-136332.30000000</valUSD>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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              <otherRefInst>
                <issuerName>N/A</issuerName>
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                  <isin value="GB00H248CL26"/>
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            <expDate>2020-06-09</expDate>
            <notionalAmt>1482770.25000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-136332.30000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Lead Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H247MS69"/>
        </identifiers>
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        <name>N/A</name>
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        <name>N/A</name>
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      <invstOrSec>
        <name>N/A</name>
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          <isin value="GB00H248JT96"/>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>N/A</name>
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          <isin value="GB00H243KK22"/>
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      <invstOrSec>
        <name>N/A</name>
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          <isin value="GB00H246JQ00"/>
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        <name>N/A</name>
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          <isin value="GB00H248HP19"/>
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        <name>N/A</name>
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        <name>N/A</name>
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        <name>N/A</name>
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        <name>N/A</name>
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        <name>N/A</name>
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      <invstOrSec>
        <name>N/A</name>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <isin value="GB00H248H512"/>
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            <payOffProf>Short</payOffProf>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <isin value="GB00H244G307"/>
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        <balance>277.00000000</balance>
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        <assetCat>DCO</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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        <name>N/A</name>
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          <ticker value="CCN0 Comdty"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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                <issuerName>N/A</issuerName>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Aluminum Base Metal</title>
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          <isin value="GB00H23FYH49"/>
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              <counterpartyName>LME Clear</counterpartyName>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Copper Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H2428J41"/>
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        <balance>-9.00000000</balance>
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      <invstOrSec>
        <name>N/A</name>
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        <cusip>N/A</cusip>
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          <isin value="GB00H2479076"/>
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            <payOffProf>Long</payOffProf>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Nickel Base Metal</title>
        <cusip>N/A</cusip>
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          <isin value="GB00H245XP46"/>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>RBOB Gasoline</title>
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          <other otherDesc="Inhouse Sedol" value="XBM0COM"/>
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        <name>N/A</name>
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        <name>N/A</name>
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        <name>N/A</name>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>N/A</name>
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      <invstOrSec>
        <name>N/A</name>
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          <isin value="GB00H2478R73"/>
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        <isRestrictedSec>N</isRestrictedSec>

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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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            <expDate>2020-05-11</expDate>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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          <isin value="GB00FVN2R049"/>
          <other otherDesc="Future Ticker" value="LNM0 Comdty"/>
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        <balance>186.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DCO</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <isin value="GB00FVN2R049"/>
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            <expDate>2020-06-17</expDate>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Copper</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Sedol" value="HGN0COS"/>
          <other otherDesc="Future Ticker" value="HGN0 Comdty"/>
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        <balance>-9.00000000</balance>
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        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>CME Clearing House</counterpartyName>
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            <payOffProf>Short</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <ticker value="HGN0 Comdty"/>
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            <expDate>2020-07-29</expDate>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Aluminum Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H248M231"/>
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        <balance>-54.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <assetCat>DCO</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
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                  <isin value="GB00H248M231"/>
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            <expDate>2020-06-16</expDate>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H2426Q77"/>
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        <balance>163.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DCO</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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      <invstOrSec>
        <name>N/A</name>
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        <identifiers>
          <ticker value="CTN0 Comdty"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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                <issuerName>N/A</issuerName>
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      <invstOrSec>
        <name>N/A</name>
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        <title>LME Zinc Base Metal</title>
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          <isin value="GB00H248VP94"/>
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            <expDate>2020-06-19</expDate>
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        <name>United States of America</name>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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          <ticker value="LHM0 Comdty"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
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          <isin value="GB00H244HR11"/>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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            <expDate>2020-06-10</expDate>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>Citibank</counterpartyName>
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                <issuerName>N/A</issuerName>
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            <swapFlag>Y</swapFlag>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Lead Base Metal</title>
        <cusip>N/A</cusip>
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        <units>NC</units>
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        <assetCat>DCO</assetCat>
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        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Nickel Base Metal</title>
        <cusip>N/A</cusip>
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          <isin value="GB00H247RQ90"/>
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        <balance>2.00000000</balance>
        <units>NC</units>
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        <assetCat>DCO</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>100 oz Gold</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Sedol" value="GCM0COM"/>
          <other otherDesc="Future Ticker" value="GCM0 Comdty"/>
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        <balance>71.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>CME Clearing House</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <ticker value="GCM0 Comdty"/>
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            <expDate>2020-06-26</expDate>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Lead Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H243JB67"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Total Return Swap</title>
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        <identifiers>
          <ticker value="SMN0 Comdty"/>
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        <balance>95670.00000000</balance>
        <units>PA</units>
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        <assetCat>DCO</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>Citibank</counterpartyName>
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                <issuerName>N/A</issuerName>
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                  <cusip value="N/A"/>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <ticker value="CCK0 Comdty"/>
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              <counterpartyName>Citibank</counterpartyName>
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            <swapFlag>Y</swapFlag>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Aluminum Base Metal</title>
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          <isin value="GB00H248JK04"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Zinc Base Metal</title>
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          <isin value="GB00H247HJ26"/>
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                  <isin value="GB00H247HJ26"/>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Aluminum Base Metal</title>
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          <isin value="GB00H244G307"/>
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        <name>N/A</name>
        <lei>N/A</lei>
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          <isin value="GB00H2489T94"/>
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        <name>N/A</name>
        <lei>N/A</lei>
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          <isin value="GB00H247D059"/>
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      </invstOrSec>
      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <balance>3637000.00000000</balance>
        <units>PA</units>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-10-01</maturityDt>
          <couponKind>None</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Aluminum Base Metal</title>
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        <units>NC</units>
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        <assetCat>DCO</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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              <counterpartyName>LME Clear</counterpartyName>
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            </descRefInstrmnt>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Copper Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H248ML24"/>
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        <balance>28.00000000</balance>
        <units>NC</units>
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        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                  <isin value="GB00H248ML24"/>
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            </descRefInstrmnt>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Aluminum Base Metal</title>
        <cusip>N/A</cusip>
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          <isin value="GB00H2495R23"/>
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        <fairValLevel>1</fairValLevel>
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            <payOffProf>Short</payOffProf>
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                  <isin value="GB00H2495R23"/>
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            <expDate>2020-06-30</expDate>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Aluminum Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H247QF11"/>
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        <balance>139.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <assetCat>DCO</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                  <isin value="GB00H247QF11"/>
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            <expDate>2020-05-26</expDate>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Nickel Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H242BX94"/>
        </identifiers>
        <balance>32.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <isin value="GB00H242BX94"/>
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            <expDate>2020-04-08</expDate>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Nickel Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H248RP17"/>
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        <balance>4.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <isin value="GB00H248RP17"/>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <identifiers>
          <ticker value="KCN0 Comdty"/>
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        <assetCat>DCO</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <swapDeriv derivCat="SWP">
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              <counterpartyName>Citibank</counterpartyName>
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                <issuerName>N/A</issuerName>
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      <invstOrSec>
        <name>N/A</name>
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          <isin value="GB00H248R958"/>
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        <balance>28.00000000</balance>
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              <counterpartyName>LME Clear</counterpartyName>
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        <name>N/A</name>
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          <ticker value="LCM0 Comdty"/>
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      <invstOrSec>
        <name>N/A</name>
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          <isin value="GB00H242FK46"/>
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            <expDate>2020-04-22</expDate>
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      <invstOrSec>
        <name>N/A</name>
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          <ticker value="LCJ0 Comdty"/>
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            <swapFlag>Y</swapFlag>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
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          <isin value="GB00H2493X43"/>
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        <balance>23.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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            <expDate>2020-06-26</expDate>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
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          <ticker value="CCN0 Comdty"/>
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        <fairValLevel>2</fairValLevel>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
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            <swapFlag>Y</swapFlag>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
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        <cusip>000000000</cusip>
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          <ticker value="SMN0 Comdty"/>
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        <assetCat>DCO</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>Societe Generale</counterpartyName>
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                <issuerName>N/A</issuerName>
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            <swapFlag>Y</swapFlag>
            <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="Decreases in total return of Soybean Meal July Futures" floatingRtSpread="0.00000000" pmntAmt="0.00000000">
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        <securityLending>
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      <invstOrSec>
        <name>N/A</name>
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          <ticker value="LCJ0 Comdty"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <swapDeriv derivCat="SWP">
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              <counterpartyName>Goldman Sachs International</counterpartyName>
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                <issuerName>N/A</issuerName>
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            <swapFlag>Y</swapFlag>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
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        <cusip>N/A</cusip>
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          <isin value="GB00H247N165"/>
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        <assetCat>DCO</assetCat>
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        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <isin value="GB00H247N165"/>
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            <expDate>2020-05-19</expDate>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Zinc Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H248HY00"/>
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        <balance>-2.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <isin value="GB00H248HY00"/>
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            <expDate>2020-06-11</expDate>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Lead Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H248F466"/>
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        <balance>21.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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            <expDate>2020-06-09</expDate>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Nickel Base Metal</title>
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          <isin value="GB00H248RP17"/>
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        <assetCat>DCO</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
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                <issuerName>N/A</issuerName>
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            <expDate>2020-06-18</expDate>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <cusip>912796SZ3</cusip>
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          <isin value="US912796SZ37"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>None</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Aluminum Base Metal</title>
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          <isin value="GB00H2491634"/>
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        <balance>-3.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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            <payOffProf>Short</payOffProf>
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                <issuerName>N/A</issuerName>
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            <expDate>2020-06-25</expDate>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Copper Base Metal</title>
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          <isin value="GB00H248XY26"/>
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        <balance>-7.00000000</balance>
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        <fairValLevel>1</fairValLevel>
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            <payOffProf>Short</payOffProf>
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                <issuerName>N/A</issuerName>
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            <expDate>2020-06-23</expDate>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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          <isin value="GB00H244KS31"/>
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        <curCd>USD</curCd>
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        <assetCat>DCO</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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            </descRefInstrmnt>
            <expDate>2020-06-03</expDate>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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          <isin value="GB00H243HZ61"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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            </descRefInstrmnt>
            <expDate>2020-05-27</expDate>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <other otherDesc="Inhouse Sedol" value="HOM0COM"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>CME Clearing House</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
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        <identifiers>
          <isin value="GB00H242C144"/>
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        <balance>-2.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
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              <otherRefInst>
                <issuerName>N/A</issuerName>
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            <expDate>2020-04-22</expDate>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Copper Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00DV8VP267"/>
          <other otherDesc="Future Ticker" value="LPJ0 20 Comdty"/>
        </identifiers>
        <balance>3.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-99065.10000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <isin value="GB00DV8VP267"/>
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            <expDate>2020-04-15</expDate>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Aluminum Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H2478R73"/>
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        <balance>-144.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>709629.89000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <isin value="GB00H2478R73"/>
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            <expDate>2020-05-11</expDate>
            <notionalAmt>-5441904.00000000</notionalAmt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="LHM0 Comdty"/>
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        <balance>748030.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
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        <assetCat>DCO</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <swapDeriv derivCat="SWP">
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              <counterpartyName>Macquarie Bank</counterpartyName>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
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            <swapFlag>Y</swapFlag>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <other otherDesc="Inhouse Asset ID" value="C1N0CSQSW"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>Goldman Sachs International</counterpartyName>
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                <issuerName>N/A</issuerName>
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            <swapFlag>Y</swapFlag>
            <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="Decreases in total return of Corn July Futures" floatingRtSpread="0.00000000" pmntAmt="0.00000000">
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Aluminum Base Metal</title>
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          <isin value="GB00H243DN69"/>
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        <balance>-15.00000000</balance>
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        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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                <issuerName>N/A</issuerName>
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            <expDate>2020-05-06</expDate>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Copper Base Metal</title>
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          <isin value="GB00H247QY00"/>
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        <balance>79.00000000</balance>
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        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Total Return Swap</title>
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          <ticker value="LHJ0 Comdty"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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            <swapFlag>Y</swapFlag>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Aluminum Base Metal</title>
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            <payOffProf>Long</payOffProf>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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              <counterpartyName>LME Clear</counterpartyName>
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      </invstOrSec>
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        <name>N/A</name>
        <lei>N/A</lei>
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        <balance>1.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
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          <isin value="GB00H2479J64"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
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                <issuerName>N/A</issuerName>
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            <expDate>2020-05-11</expDate>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
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        <identifiers>
          <ticker value="KCN0 Comdty"/>
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        <assetCat>DCO</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <swapDeriv derivCat="SWP">
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              <counterpartyName>Societe Generale</counterpartyName>
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                <issuerName>N/A</issuerName>
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            <swapFlag>Y</swapFlag>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Copper Base Metal</title>
        <cusip>N/A</cusip>
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          <isin value="GB00H248TX31"/>
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        <balance>22.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DCO</assetCat>
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        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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            <expDate>2020-06-19</expDate>
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      <invstOrSec>
        <name>N/A</name>
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          <ticker value="W N0 Comdty"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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            <swapFlag>Y</swapFlag>
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        <securityLending>
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      <invstOrSec>
        <name>N/A</name>
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        <name>N/A</name>
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      <invstOrSec>
        <name>N/A</name>
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            <payOffProf>Long</payOffProf>
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        <name>N/A</name>
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        <balance>9.00000000</balance>
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            <payOffProf>Long</payOffProf>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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          <isin value="GB00H2493X43"/>
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        <balance>-23.00000000</balance>
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        <assetCat>DCO</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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              <otherRefInst>
                <issuerName>N/A</issuerName>
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            </descRefInstrmnt>
            <expDate>2020-06-26</expDate>
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        </derivativeInfo>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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          <isin value="GB00H248NC08"/>
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        <balance>-9.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
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                <issuerName>N/A</issuerName>
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            </descRefInstrmnt>
            <expDate>2020-06-16</expDate>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Nickel Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H2465620"/>
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        <balance>7.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-94163.65000000</valUSD>
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        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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              <otherRefInst>
                <issuerName>N/A</issuerName>
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                  <isin value="GB00H2465620"/>
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            </descRefInstrmnt>
            <expDate>2020-04-14</expDate>
            <notionalAmt>480606.00000000</notionalAmt>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="SMN0 Comdty"/>
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        <balance>-2136630.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-87235.00000000</valUSD>
        <pctVal>-0.06165515182</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Swap" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>Macquarie Bank</counterpartyName>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>N/A</issueTitle>
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                  <cusip value="N/A"/>
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            <swapFlag>Y</swapFlag>
            <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="Decreases in total return of Soybean Meal July Futures" floatingRtSpread="0.00000000" pmntAmt="0.00000000">
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            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="Increases in total return of Soybean Meal July Futures" floatingRtSpread="0.00000000" pmntAmt="0.00000000">
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                <rtResetTenor rateTenor="Month" rateTenorUnit="0" resetDt="Month" resetDtUnit="0"/>
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            <terminationDt>2020-06-26</terminationDt>
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            <notionalAmt>-2136630.00000000</notionalAmt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Total Return Swap</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="CCK0 Comdty"/>
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        <balance>-112450.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>14920.00000000</valUSD>
        <pctVal>0.010545020521</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Swap" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>Goldman Sachs International</counterpartyName>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
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                  <cusip value="N/A"/>
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            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="Decreases in total return of Cocoa May Futures" floatingRtSpread="0.00000000" pmntAmt="0.00000000">
              <rtResetTenors>
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            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="Increases in total return of Cocoa May Futures" floatingRtSpread="0.00000000" pmntAmt="0.00000000">
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                <rtResetTenor rateTenor="Month" rateTenorUnit="0" resetDt="Month" resetDtUnit="0"/>
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            <terminationDt>2020-04-03</terminationDt>
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            <notionalAmt>-112450.00000000</notionalAmt>
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            <unrealizedAppr>14920.00000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Aluminum Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H248M231"/>
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        <balance>54.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-189605.30000000</valUSD>
        <pctVal>-0.13400749192</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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              <otherRefInst>
                <issuerName>N/A</issuerName>
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                <identifiers>
                  <isin value="GB00H248M231"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-06-16</expDate>
            <notionalAmt>2055091.50000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-189605.30000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Copper Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H246SW92"/>
        </identifiers>
        <balance>43.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-688032.69000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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                <identifiers>
                  <isin value="GB00H246SW92"/>
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            </descRefInstrmnt>
            <expDate>2020-04-30</expDate>
            <notionalAmt>5317218.75000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-688032.69000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Copper Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H246J603"/>
        </identifiers>
        <balance>-25.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>694130.76000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
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                <issuerName>N/A</issuerName>
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                <identifiers>
                  <isin value="GB00H246J603"/>
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            <expDate>2020-04-23</expDate>
            <notionalAmt>-3089806.25000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>694130.76000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Nickel Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H247RQ90"/>
        </identifiers>
        <balance>-2.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>13512.58000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <isin value="GB00H247RQ90"/>
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            <expDate>2020-05-26</expDate>
            <notionalAmt>-137606.52000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>13512.58000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bills</title>
        <cusip>912796SV2</cusip>
        <identifiers>
          <isin value="US912796SV23"/>
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        <balance>2634000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2633470.67000000</valUSD>
        <pctVal>1.861260204942</pctVal>
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        <assetCat>STIV</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-06-18</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Lead Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H245XT83"/>
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        <balance>8.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-35145.60000000</valUSD>
        <pctVal>-0.02483988426</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <isin value="GB00H245XT83"/>
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            <expDate>2020-04-03</expDate>
            <notionalAmt>346828.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-35145.60000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Lead Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H23S2D52"/>
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        <balance>10.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-23172.00000000</valUSD>
        <pctVal>-0.01637729326</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>LME Lead Base Metal</issueTitle>
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                  <isin value="GB00H23S2D52"/>
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            </descRefInstrmnt>
            <expDate>2020-05-05</expDate>
            <notionalAmt>435357.50000000</notionalAmt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Zinc Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H2497T86"/>
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        <balance>-1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-1077.95000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
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              <counterpartyName>LME Clear</counterpartyName>
              <counterpartyLei>213800L8AQD59D3JRW81</counterpartyLei>
            </counterparties>
            <payOffProf>Short</payOffProf>
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              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>LME Zinc Base Metal</issueTitle>
                <identifiers>
                  <isin value="GB00H2497T86"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-06-30</expDate>
            <notionalAmt>-47637.50000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-1077.95000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Lead Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H243JL65"/>
        </identifiers>
        <balance>28.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-51749.60000000</valUSD>
        <pctVal>-0.03657510683</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>LME Clear</counterpartyName>
              <counterpartyLei>213800L8AQD59D3JRW81</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>LME Lead Base Metal</issueTitle>
                <identifiers>
                  <isin value="GB00H243JL65"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-05-27</expDate>
            <notionalAmt>1219883.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-51749.60000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Zinc Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H2479S55"/>
        </identifiers>
        <balance>-67.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>391193.79000000</valUSD>
        <pctVal>0.276484352775</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>LME Clear</counterpartyName>
              <counterpartyLei>213800L8AQD59D3JRW81</counterpartyLei>
            </counterparties>
            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>LME Zinc Base Metal</issueTitle>
                <identifiers>
                  <isin value="GB00H2479S55"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-05-11</expDate>
            <notionalAmt>-3184945.50000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>391193.79000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Copper Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H243G044"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-19962.05000000</valUSD>
        <pctVal>-0.01410859429</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>LME Clear</counterpartyName>
              <counterpartyLei>213800L8AQD59D3JRW81</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>LME Copper Base Metal</issueTitle>
                <identifiers>
                  <isin value="GB00H243G044"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-05-06</expDate>
            <notionalAmt>123680.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-19962.05000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Nickel Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H242C474"/>
        </identifiers>
        <balance>-27.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>194875.25000000</valUSD>
        <pctVal>0.137732138764</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>LME Clear</counterpartyName>
              <counterpartyLei>213800L8AQD59D3JRW81</counterpartyLei>
            </counterparties>
            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>LME Nickel Base Metal</issueTitle>
                <identifiers>
                  <isin value="GB00H242C474"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-04-29</expDate>
            <notionalAmt>-1855032.84000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>194875.25000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Natural Gas</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="NGK20"/>
          <other otherDesc="Future Ticker" value="NGK0 20 Comdty"/>
        </identifiers>
        <balance>-34.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>54986.03000000</valUSD>
        <pctVal>0.038862521095</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>CME Clearing House</counterpartyName>
              <counterpartyLei>LCZ7XYGSLJUHFXXNXD88</counterpartyLei>
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            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>Natural Gas</issueTitle>
                <identifiers>
                  <ticker value="NGK0 20 Comdty"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-04-28</expDate>
            <notionalAmt>-557600.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>54986.03000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>RBOB Gasoline</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="XBK20"/>
          <other otherDesc="Future Ticker" value="XBK0 Comdty"/>
        </identifiers>
        <balance>108.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-4138269.52000000</valUSD>
        <pctVal>-2.92480811069</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>CME Clearing House</counterpartyName>
              <counterpartyLei>LCZ7XYGSLJUHFXXNXD88</counterpartyLei>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>RBOB Gasoline</issueTitle>
                <identifiers>
                  <ticker value="XBK0 Comdty"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-04-30</expDate>
            <notionalAmt>2688487.20000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-4138269.52000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UBS Select Treasury Preferred Fund</name>
        <lei>549300DXQ8KM8WHPPG39</lei>
        <title>UBS Select Treasury Preferred Fund, Class I</title>
        <cusip>90262Y877</cusip>
        <identifiers>
          <isin value="US90262Y8773"/>
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        <balance>982.87000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>982.87000000</valUSD>
        <pctVal>0.000694663828</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Total Return Swap</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="SMN0 Comdty"/>
        </identifiers>
        <balance>6696900.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-53949.84000000</valUSD>
        <pctVal>-0.03813017224</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Swap" issuerCat="OTHER"/>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>Societe Generale</counterpartyName>
              <counterpartyLei>O2RNE8IBXP4R0TD8PU41</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>N/A</issueTitle>
                <identifiers>
                  <cusip value="N/A"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="Increases in total return of Soybean Meal July Futures" floatingRtSpread="0.00000000" pmntAmt="0.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Month" rateTenorUnit="0" resetDt="Month" resetDtUnit="0"/>
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            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="Decreases in total return of Soybean Meal July Futures" floatingRtSpread="0.00000000" pmntAmt="0.00000000">
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                <rtResetTenor rateTenor="Month" rateTenorUnit="0" resetDt="Month" resetDtUnit="0"/>
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            <terminationDt>2020-06-26</terminationDt>
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            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
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            <unrealizedAppr>-53949.84000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Copper Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H243G481"/>
        </identifiers>
        <balance>6.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-122993.56000000</valUSD>
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        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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              <otherRefInst>
                <issuerName>N/A</issuerName>
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                  <isin value="GB00H243G481"/>
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              </otherRefInst>
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            <expDate>2020-05-13</expDate>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Sugar No. 11</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="SBK20"/>
          <other otherDesc="Future Ticker" value="SBK0 Comdty"/>
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        <balance>799.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-3935780.01000000</valUSD>
        <pctVal>-2.78169443520</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>ICE Clear US</counterpartyName>
              <counterpartyLei>549300HWWR1D8OTS2G29</counterpartyLei>
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            <payOffProf>Long</payOffProf>
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              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>Sugar No. 11</issueTitle>
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                  <ticker value="SBK0 Comdty"/>
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            <expDate>2020-04-30</expDate>
            <notionalAmt>9324649.60000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-3935780.01000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Aluminum Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H246SM94"/>
        </identifiers>
        <balance>69.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-384878.55000000</valUSD>
        <pctVal>-0.27202092546</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
              <counterpartyLei>213800L8AQD59D3JRW81</counterpartyLei>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>LME Aluminum Base Metal</issueTitle>
                <identifiers>
                  <isin value="GB00H246SM94"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-04-30</expDate>
            <notionalAmt>2602162.50000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-384878.55000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Nickel Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H242C144"/>
        </identifiers>
        <balance>2.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-27151.09000000</valUSD>
        <pctVal>-0.01918959793</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>LME Nickel Base Metal</issueTitle>
                <identifiers>
                  <isin value="GB00H242C144"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-04-22</expDate>
            <notionalAmt>137355.12000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-27151.09000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Aluminum Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H2426Y51"/>
        </identifiers>
        <balance>5.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-29844.83000000</valUSD>
        <pctVal>-0.02109345474</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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              <otherRefInst>
                <issuerName>N/A</issuerName>
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                  <isin value="GB00H2426Y51"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-04-29</expDate>
            <notionalAmt>188531.25000000</notionalAmt>
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            <unrealizedAppr>-29844.83000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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          <isin value="GB00H244KS31"/>
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        <balance>-10.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
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              <otherRefInst>
                <issuerName>N/A</issuerName>
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                  <isin value="GB00H244KS31"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-06-03</expDate>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Copper Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H2428R25"/>
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        <balance>42.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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              <otherRefInst>
                <issuerName>N/A</issuerName>
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                  <isin value="GB00H2428R25"/>
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            </descRefInstrmnt>
            <expDate>2020-04-29</expDate>
            <notionalAmt>5193174.00000000</notionalAmt>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Copper Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H246BJ72"/>
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        <balance>4.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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              <otherRefInst>
                <issuerName>N/A</issuerName>
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                  <isin value="GB00H246BJ72"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-04-17</expDate>
            <notionalAmt>494150.00000000</notionalAmt>
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            <unrealizedAppr>-135933.23000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Zinc Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H243KT15"/>
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        <balance>15.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-50857.75000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>LME Clear</counterpartyName>
              <counterpartyLei>213800L8AQD59D3JRW81</counterpartyLei>
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            <payOffProf>Long</payOffProf>
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              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>LME Zinc Base Metal</issueTitle>
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                  <isin value="GB00H243KT15"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-05-27</expDate>
            <notionalAmt>713520.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-50857.75000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Brent Crude Oil</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H1JWQ436"/>
          <other otherDesc="Future Ticker" value="CON0 Comdty"/>
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        <balance>123.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>6902.55000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>ICE Clear Europe</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <isin value="GB00H1JWQ436"/>
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            <expDate>2020-05-29</expDate>
            <notionalAmt>3648180.00000000</notionalAmt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Copper Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H2487V76"/>
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        <balance>-1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>18817.41000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
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              <otherRefInst>
                <issuerName>N/A</issuerName>
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                  <isin value="GB00H2487V76"/>
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            <expDate>2020-06-04</expDate>
            <notionalAmt>-123731.25000000</notionalAmt>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Total Return Swap</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="C K0 Comdty"/>
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        <balance>5690525.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-738358.50000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Swap" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>Goldman Sachs International</counterpartyName>
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            <descRefInstrmnt>
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                <issuerName>N/A</issuerName>
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            <swapFlag>Y</swapFlag>
            <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="Increases in total return of Corn May Futures" floatingRtSpread="0.00000000" pmntAmt="0.00000000">
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Copper Base Metal</title>
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          <isin value="GB00H2496807"/>
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        <balance>-15.00000000</balance>
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              <counterpartyName>LME Clear</counterpartyName>
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                <issuerName>N/A</issuerName>
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            <expDate>2020-06-30</expDate>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Nickel Base Metal</title>
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          <isin value="GB00H248V935"/>
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            <expDate>2020-06-19</expDate>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Lead Base Metal</title>
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          <isin value="GB00H248BB52"/>
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        <balance>11.00000000</balance>
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        <assetCat>DCO</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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            <expDate>2020-06-05</expDate>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Copper Base Metal</title>
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        <identifiers>
          <isin value="GB00H243G044"/>
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        <balance>-1.00000000</balance>
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                <issuerName>N/A</issuerName>
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            <expDate>2020-05-06</expDate>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Corn</title>
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          <other otherDesc="Inhouse Asset ID" value="CK20"/>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Nickel Base Metal</title>
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          <isin value="GB00H247DN81"/>
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        <balance>-12.00000000</balance>
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        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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          <isin value="GB00H2465L74"/>
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        <units>NC</units>
        <curCd>USD</curCd>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
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                  <isin value="GB00H2465L74"/>
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            </descRefInstrmnt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Nickel Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H2479D03"/>
        </identifiers>
        <balance>-7.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
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                  <isin value="GB00H2479D03"/>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Aluminum Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H245YH37"/>
        </identifiers>
        <balance>81.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>LME Clear</counterpartyName>
              <counterpartyLei>213800L8AQD59D3JRW81</counterpartyLei>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
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                  <isin value="GB00H245YH37"/>
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            <expDate>2020-04-06</expDate>
            <notionalAmt>3027921.75000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-667086.14000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Lead Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00FVN0F717"/>
          <other otherDesc="Future Ticker" value="LLJ0 Comdty"/>
        </identifiers>
        <balance>-20.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>118389.28000000</valUSD>
        <pctVal>0.083674087608</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>LME Clear</counterpartyName>
              <counterpartyLei>213800L8AQD59D3JRW81</counterpartyLei>
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            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
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                <identifiers>
                  <isin value="GB00FVN0F717"/>
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            </descRefInstrmnt>
            <expDate>2020-04-15</expDate>
            <notionalAmt>-869625.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>118389.28000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Aluminum Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H23DNV53"/>
        </identifiers>
        <balance>-46.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>234295.30000000</valUSD>
        <pctVal>0.165593079529</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>LME Clear</counterpartyName>
              <counterpartyLei>213800L8AQD59D3JRW81</counterpartyLei>
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            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>LME Aluminum Base Metal</issueTitle>
                <identifiers>
                  <isin value="GB00H23DNV53"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-05-05</expDate>
            <notionalAmt>-1736396.50000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>234295.30000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Lead Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H244LP74"/>
        </identifiers>
        <balance>-7.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>14308.56000000</valUSD>
        <pctVal>0.010112872575</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>LME Lead Base Metal</issueTitle>
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                  <isin value="GB00H244LP74"/>
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            <expDate>2020-06-10</expDate>
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            <curCd>USD</curCd>
            <unrealizedAppr>14308.56000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Copper Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00DV8VPH16"/>
        </identifiers>
        <balance>641.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-16508831.70000000</valUSD>
        <pctVal>-11.6679603928</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
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                  <isin value="GB00DV8VPH16"/>
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            </descRefInstrmnt>
            <expDate>2020-06-17</expDate>
            <notionalAmt>79335768.75000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-16508831.70000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="C K0 Comdty"/>
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        <balance>5656450.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-730220.95000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <swapDeriv derivCat="SWP">
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              <counterpartyName>Citibank</counterpartyName>
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                <issuerName>N/A</issuerName>
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            <swapFlag>Y</swapFlag>
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        <securityLending>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <identifiers>
          <ticker value="BOK0 Comdty"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>Societe Generale</counterpartyName>
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                <issuerName>N/A</issuerName>
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            <swapFlag>Y</swapFlag>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Wheat</title>
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        <identifiers>
          <other otherDesc="Inhouse Sedol" value="W0N0COM"/>
          <other otherDesc="Future Ticker" value="W N0 Comdty"/>
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        <balance>44.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>CME Clearing House</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <ticker value="W N0 Comdty"/>
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            <expDate>2020-07-14</expDate>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="S K0 Comdty"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>Citibank</counterpartyName>
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            <swapFlag>Y</swapFlag>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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              <otherRefInst>
                <issuerName>N/A</issuerName>
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                  <isin value="GB00H247DN81"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-05-12</expDate>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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          <isin value="GB00H2491G38"/>
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        <balance>-11.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
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              <otherRefInst>
                <issuerName>N/A</issuerName>
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                  <isin value="GB00H2491G38"/>
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            <expDate>2020-06-25</expDate>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Zinc Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H2492715"/>
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        <balance>2.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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              <otherRefInst>
                <issuerName>N/A</issuerName>
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                  <isin value="GB00H2492715"/>
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            <expDate>2020-06-25</expDate>
            <notionalAmt>95233.50000000</notionalAmt>
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            <unrealizedAppr>4277.60000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Nickel Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H23DTD91"/>
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        <balance>-7.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>71099.92000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
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              <otherRefInst>
                <issuerName>N/A</issuerName>
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                  <isin value="GB00H23DTD91"/>
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            <expDate>2020-05-05</expDate>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Total Return Swap</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="W N0 Comdty"/>
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        <balance>-4415625.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Swap" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>Citibank</counterpartyName>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
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                  <cusip value="N/A"/>
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            <swapFlag>Y</swapFlag>
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                <rtResetTenor rateTenor="Month" rateTenorUnit="0" resetDt="Month" resetDtUnit="0"/>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Zinc Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H2494976"/>
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        <balance>51.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <isin value="GB00H2494976"/>
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            <expDate>2020-06-26</expDate>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Copper Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H245X986"/>
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        <balance>-11.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <isin value="GB00H245X986"/>
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            <expDate>2020-04-03</expDate>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Copper Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H23FZX71"/>
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        <balance>60.00000000</balance>
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        <assetCat>DCO</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <isin value="GB00H23FZX71"/>
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            <expDate>2020-06-02</expDate>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Copper Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H248D313"/>
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        <balance>26.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-330900.70000000</valUSD>
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        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <isin value="GB00H248D313"/>
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            <expDate>2020-06-09</expDate>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Nickel Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H23DTD91"/>
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        <balance>7.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-74581.99000000</valUSD>
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        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <isin value="GB00H23DTD91"/>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Copper Base Metal</title>
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        <identifiers>
          <isin value="GB00H2428J41"/>
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        <balance>9.00000000</balance>
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            <payOffProf>Long</payOffProf>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Copper Base Metal</title>
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          <isin value="GB00H2428R25"/>
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            <payOffProf>Short</payOffProf>
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            <expDate>2020-04-29</expDate>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Zinc Base Metal</title>
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          <isin value="GB00H23G4999"/>
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        <balance>-38.00000000</balance>
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                <issuerName>N/A</issuerName>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <other otherDesc="Inhouse Asset ID" value="SIK20"/>
          <other otherDesc="Future Ticker" value="SIK0 Comdty"/>
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        <balance>77.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-1311032.94000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>CME Clearing House</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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            </descRefInstrmnt>
            <expDate>2020-05-27</expDate>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="S K0 Comdty"/>
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        <balance>4651500.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-375054.00000000</valUSD>
        <pctVal>-0.26507722028</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Swap" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>Goldman Sachs International</counterpartyName>
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              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>N/A</issueTitle>
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                  <cusip value="N/A"/>
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            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="Increases in total return of Soybean May Futures" floatingRtSpread="0.00000000" pmntAmt="0.00000000">
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            <terminationDt>2020-04-24</terminationDt>
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            <unrealizedAppr>-375054.00000000</unrealizedAppr>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Zinc Base Metal</title>
        <cusip>N/A</cusip>
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          <isin value="GB00H244N394"/>
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        <balance>19.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-55939.80000000</valUSD>
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        <assetCat>DCO</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <isin value="GB00H244N394"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-06-03</expDate>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Nickel Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H244KX83"/>
        </identifiers>
        <balance>-18.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
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                  <isin value="GB00H244KX83"/>
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            </descRefInstrmnt>
            <expDate>2020-06-10</expDate>
            <notionalAmt>-1239408.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>157032.90000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bills</title>
        <cusip>912796XF1</cusip>
        <identifiers>
          <isin value="US912796XF18"/>
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        <balance>3656000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3654747.05000000</valUSD>
        <pctVal>2.583068541748</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-08-20</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Zinc Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H245Y281"/>
        </identifiers>
        <balance>10.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-98430.33000000</valUSD>
        <pctVal>-0.06956768430</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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              <otherRefInst>
                <issuerName>N/A</issuerName>
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                <identifiers>
                  <isin value="GB00H245Y281"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-04-03</expDate>
            <notionalAmt>473745.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-98430.33000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Aluminum Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H248TN33"/>
        </identifiers>
        <balance>-61.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>137870.63000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
              <counterpartyLei>213800L8AQD59D3JRW81</counterpartyLei>
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            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
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                <identifiers>
                  <isin value="GB00H248TN33"/>
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            </descRefInstrmnt>
            <expDate>2020-06-19</expDate>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Nickel Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H244KX83"/>
        </identifiers>
        <balance>18.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <assetCat>DCO</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <identifiers>
          <ticker value="LHM0 Comdty"/>
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        <assetCat>DCO</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>Goldman Sachs International</counterpartyName>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Zinc Base Metal</title>
        <cusip>N/A</cusip>
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          <isin value="GB00H246TN76"/>
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        <balance>-5.00000000</balance>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Copper Base Metal</title>
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          <isin value="GB00H2496807"/>
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        <isRestrictedSec>N</isRestrictedSec>

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              <counterpartyName>LME Clear</counterpartyName>
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        <name>N/A</name>
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        <isRestrictedSec>N</isRestrictedSec>

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            <swapFlag>Y</swapFlag>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>N/A</name>
        <lei>N/A</lei>
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      </invstOrSec>
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        <name>N/A</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00FVN0F931"/>
          <other otherDesc="Future Ticker" value="LNJ0 Comdty"/>
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        <isRestrictedSec>N</isRestrictedSec>

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              <counterpartyName>LME Clear</counterpartyName>
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            <expDate>2020-04-15</expDate>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H244HM65"/>
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        <balance>-39.00000000</balance>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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          <isin value="GB00H2464K92"/>
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        <balance>-26.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <isin value="GB00H246J603"/>
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        <balance>25.00000000</balance>
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        <name>N/A</name>
        <lei>N/A</lei>
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        <name>N/A</name>
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        <name>N/A</name>
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        <name>N/A</name>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>Corn</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="C1N0COM"/>
        </identifiers>
        <balance>-747.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>593548.95000000</valUSD>
        <pctVal>0.419503073607</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>CME Clearing House</counterpartyName>
              <counterpartyLei>LCZ7XYGSLJUHFXXNXD88</counterpartyLei>
            </counterparties>
            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>Corn</issueTitle>
                <identifiers>
                  <other otherDesc="Inhouse Asset ID" value="C1N0COM"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-07-14</expDate>
            <notionalAmt>-12923100.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>593548.95000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Aluminum Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H2426Y51"/>
        </identifiers>
        <balance>-5.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>30141.50000000</valUSD>
        <pctVal>0.021303132442</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>LME Clear</counterpartyName>
              <counterpartyLei>213800L8AQD59D3JRW81</counterpartyLei>
            </counterparties>
            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>LME Aluminum Base Metal</issueTitle>
                <identifiers>
                  <isin value="GB00H2426Y51"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-04-29</expDate>
            <notionalAmt>-188531.25000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>30141.50000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Copper Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H2428N86"/>
        </identifiers>
        <balance>38.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-1121273.60000000</valUSD>
        <pctVal>-0.79248345322</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>LME Clear</counterpartyName>
              <counterpartyLei>213800L8AQD59D3JRW81</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>LME Copper Base Metal</issueTitle>
                <identifiers>
                  <isin value="GB00H2428N86"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-04-22</expDate>
            <notionalAmt>4696163.50000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-1121273.60000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Soybean Meal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Sedol" value="SMN0COM"/>
          <other otherDesc="Future Ticker" value="SMN0 Comdty"/>
        </identifiers>
        <balance>92.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>82028.90000000</valUSD>
        <pctVal>0.057975632295</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>CME Clearing House</counterpartyName>
              <counterpartyLei>LCZ7XYGSLJUHFXXNXD88</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>Soybean Meal</issueTitle>
                <identifiers>
                  <ticker value="SMN0 Comdty"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-07-14</expDate>
            <notionalAmt>2933880.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>82028.90000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Nickel Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H248V935"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>916.55000000</valUSD>
        <pctVal>0.000647790788</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>LME Clear</counterpartyName>
              <counterpartyLei>213800L8AQD59D3JRW81</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>LME Nickel Base Metal</issueTitle>
                <identifiers>
                  <isin value="GB00H248V935"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-06-19</expDate>
            <notionalAmt>68877.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>916.55000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Zinc Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H2465L74"/>
        </identifiers>
        <balance>19.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-222109.05000000</valUSD>
        <pctVal>-0.15698019371</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>LME Clear</counterpartyName>
              <counterpartyLei>213800L8AQD59D3JRW81</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>LME Zinc Base Metal</issueTitle>
                <identifiers>
                  <isin value="GB00H2465L74"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-04-14</expDate>
            <notionalAmt>901322.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-222109.05000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Zinc Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H248P465"/>
        </identifiers>
        <balance>12.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-14240.40000000</valUSD>
        <pctVal>-0.01006469907</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>LME Clear</counterpartyName>
              <counterpartyLei>213800L8AQD59D3JRW81</counterpartyLei>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>LME Zinc Base Metal</issueTitle>
                <identifiers>
                  <isin value="GB00H248P465"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-06-16</expDate>
            <notionalAmt>571395.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-14240.40000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bills</title>
        <cusip>912796UB3</cusip>
        <identifiers>
          <isin value="US912796UB31"/>
        </identifiers>
        <balance>3903000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3902002.55000000</valUSD>
        <pctVal>2.757821512360</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-07-02</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Zinc Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H248S253"/>
        </identifiers>
        <balance>-3.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-3383.85000000</valUSD>
        <pctVal>-0.00239160641</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
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                  <isin value="GB00H248S253"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-06-18</expDate>
            <notionalAmt>-142762.50000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-3383.85000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bills</title>
        <cusip>912796TD1</cusip>
        <identifiers>
          <isin value="US912796TD16"/>
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        <balance>591000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>590828.96000000</valUSD>
        <pctVal>0.417580664065</pctVal>
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        <assetCat>STIV</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-08-13</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Zinc Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H243KT15"/>
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        <balance>-15.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>43938.29000000</valUSD>
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        <assetCat>DCO</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <isin value="GB00H243KT15"/>
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            <expDate>2020-05-27</expDate>
            <notionalAmt>-713520.00000000</notionalAmt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Total Return Swap</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="W K0 Comdty"/>
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        <balance>2559375.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>90256.00000000</valUSD>
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        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <swapDeriv derivCat="SWP">
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              <counterpartyName>Goldman Sachs International</counterpartyName>
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                <issuerName>N/A</issuerName>
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            <swapFlag>Y</swapFlag>
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        <securityLending>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <ticker value="LHJ0 Comdty"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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                <issuerName>N/A</issuerName>
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            <swapFlag>Y</swapFlag>
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        <name>N/A</name>
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      <invstOrSec>
        <name>N/A</name>
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        <name>N/A</name>
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      <invstOrSec>
        <name>N/A</name>
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          <isin value="GB00H244G745"/>
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      <invstOrSec>
        <name>N/A</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
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        <name>N/A</name>
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        <name>United States of America</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
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        <name>N/A</name>
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        <name>N/A</name>
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        <name>N/A</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
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          <isin value="GB00H248F466"/>
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        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
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                <issuerName>N/A</issuerName>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <ticker value="LHJ0 Comdty"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <swapDeriv derivCat="SWP">
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            <descRefInstrmnt>
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                <issuerName>N/A</issuerName>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Zinc Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H242FN76"/>
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        <balance>8.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-67759.60000000</valUSD>
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        <assetCat>DCO</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <isin value="GB00H242FN76"/>
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            <expDate>2020-04-29</expDate>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Zinc Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H2479S55"/>
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        <balance>67.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <assetCat>DCO</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <isin value="GB00H2479S55"/>
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            <expDate>2020-05-11</expDate>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Coffee 'C'</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="KCK20"/>
          <other otherDesc="Future Ticker" value="KCK0 Comdty"/>
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        <balance>143.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>ICE Clear US</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <ticker value="KCK0 Comdty"/>
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            <expDate>2020-05-18</expDate>
            <notionalAmt>6410868.75000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>903172.14000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Nickel Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H246T826"/>
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        <balance>-15.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>112981.58000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Short</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <isin value="GB00H246T826"/>
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            <expDate>2020-04-30</expDate>
            <notionalAmt>-1030632.30000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>112981.58000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Zinc Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H23DWP27"/>
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        <balance>13.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                  <isin value="GB00H23DWP27"/>
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            <expDate>2020-05-05</expDate>
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        <securityLending>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Lead Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H247DS37"/>
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        <balance>-9.00000000</balance>
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        <assetCat>DCO</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

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            <payOffProf>Short</payOffProf>
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                <issuerName>N/A</issuerName>
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                  <isin value="GB00H247DS37"/>
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            <expDate>2020-05-12</expDate>
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        <securityLending>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Lead Base Metal</title>
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          <isin value="GB00H246JQ00"/>
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        <balance>12.00000000</balance>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Copper Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H248H512"/>
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        <balance>33.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <assetCat>DCO</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

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              <counterpartyName>LME Clear</counterpartyName>
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            <payOffProf>Long</payOffProf>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <isin value="GB00H248P465"/>
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        <balance>-12.00000000</balance>
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        <name>N/A</name>
        <lei>N/A</lei>
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          <isin value="GB00H243G820"/>
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        <balance>-9.00000000</balance>
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            <payOffProf>Short</payOffProf>
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                <issuerName>N/A</issuerName>
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            <expDate>2020-05-27</expDate>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Nickel Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H23G2C82"/>
        </identifiers>
        <balance>23.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-154834.85000000</valUSD>
        <pctVal>-0.10943275272</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>LME Clear</counterpartyName>
              <counterpartyLei>213800L8AQD59D3JRW81</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>LME Nickel Base Metal</issueTitle>
                <identifiers>
                  <isin value="GB00H23G2C82"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-06-02</expDate>
            <notionalAmt>1582998.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-154834.85000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Nickel Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H2497102"/>
        </identifiers>
        <balance>-2.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-1595.90000000</valUSD>
        <pctVal>-0.00112793553</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>LME Clear</counterpartyName>
              <counterpartyLei>213800L8AQD59D3JRW81</counterpartyLei>
            </counterparties>
            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>LME Nickel Base Metal</issueTitle>
                <identifiers>
                  <isin value="GB00H2497102"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-06-30</expDate>
            <notionalAmt>-137808.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-1595.90000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Lead Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H248HP19"/>
        </identifiers>
        <balance>10.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-15622.00000000</valUSD>
        <pctVal>-0.01104117363</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>LME Clear</counterpartyName>
              <counterpartyLei>213800L8AQD59D3JRW81</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>LME Lead Base Metal</issueTitle>
                <identifiers>
                  <isin value="GB00H248HP19"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-06-11</expDate>
            <notionalAmt>435532.50000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-15622.00000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Zinc Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H247SH74"/>
        </identifiers>
        <balance>101.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-384880.70000000</valUSD>
        <pctVal>-0.27202244502</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>LME Clear</counterpartyName>
              <counterpartyLei>213800L8AQD59D3JRW81</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>LME Zinc Base Metal</issueTitle>
                <identifiers>
                  <isin value="GB00H247SH74"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-05-26</expDate>
            <notionalAmt>4804292.25000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-384880.70000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME Zinc Base Metal</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H2494976"/>
        </identifiers>
        <balance>-51.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-26383.20000000</valUSD>
        <pctVal>-0.01864687569</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>LME Clear</counterpartyName>
              <counterpartyLei>213800L8AQD59D3JRW81</counterpartyLei>
            </counterparties>
            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>LME Zinc Base Metal</issueTitle>
                <identifiers>
                  <isin value="GB00H2494976"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-06-26</expDate>
            <notionalAmt>-2428658.25000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-26383.20000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2020-04-30</ncom:dateSigned>
      <ncom:nameOfApplicant>AQR Funds</ncom:nameOfApplicant>
      <ncom:signature>Heather Bonner</ncom:signature>
      <ncom:signerName>Heather Bonner</ncom:signerName>
      <ncom:title>Principal Financial Officer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
