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        <name>ICE FUTURES US</name>
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        <assetCat>DCO</assetCat>
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            <payOffProf>Long</payOffProf>
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      <invstOrSec>
        <name>ICE FUTURES US</name>
        <lei>5493004R83R1LVX2IL36</lei>
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          <ticker value="KCN6"/>
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              <counterpartyName>ICE FUTURES US</counterpartyName>
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            <payOffProf>Long</payOffProf>
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      <invstOrSec>
        <name>ICE-ICE FUTURES LTD</name>
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          <isin value="GB00HBC8RJ09"/>
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        <curCd>USD</curCd>
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        <assetCat>DCO</assetCat>
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              <counterpartyName>ICE-ICE FUTURES LTD</counterpartyName>
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      <invstOrSec>
        <name>CHICAGO BOARD OF TRADE</name>
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          <ticker value="WN6"/>
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      <invstOrSec>
        <name>CHICAGO BOARD OF TRADE</name>
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          <ticker value="CN6"/>
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      <invstOrSec>
        <name>COMMODITY EXCHANGE INC</name>
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          <ticker value="SIN6"/>
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      <invstOrSec>
        <name>NEW YORK MERCANTILE EXCHANGE</name>
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      <invstOrSec>
        <name>COMMODITY EXCHANGE INC</name>
        <lei>N/A</lei>
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          <ticker value="GCM6"/>
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        <name>CHICAGO BOARD OF TRADE</name>
        <lei>549300EX04Q2QBFQTQ27</lei>
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        <name>CHICAGO BOARD OF TRADE</name>
        <lei>549300EX04Q2QBFQTQ27</lei>
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      <invstOrSec>
        <name>COMMODITY EXCHANGE INC</name>
        <lei>N/A</lei>
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          <ticker value="HGN6"/>
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      <invstOrSec>
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      <invstOrSec>
        <name>LONDON METAL EXCHANGE</name>
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        <assetCat>DCO</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

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            <payOffProf>Long</payOffProf>
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      <invstOrSec>
        <name>LONDON METAL EXCHANGE</name>
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      <invstOrSec>
        <name>LONDON METAL EXCHANGE</name>
        <lei>213800NB8G5VRT1DXC91</lei>
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        <securityLending>
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      <invstOrSec>
        <name>LONDON METAL EXCHANGE</name>
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          <ticker value="LMZSDP"/>
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      <invstOrSec>
        <name>LONDON METAL EXCHANGE</name>
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        <name>LONDON METAL EXCHANGE</name>
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        <assetCat>DCO</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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            <payOffProf>Long</payOffProf>
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        <securityLending>
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        <name>LONDON METAL EXCHANGE</name>
        <lei>213800NB8G5VRT1DXC91</lei>
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          <ticker value="LMZSDP"/>
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        <units>NC</units>
        <curCd>USD</curCd>
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        <assetCat>DCO</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

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            <payOffProf>Long</payOffProf>
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      <invstOrSec>
        <name>LONDON METAL EXCHANGE</name>
        <lei>213800NB8G5VRT1DXC91</lei>
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        <cusip>N/A</cusip>
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          <ticker value="LMZSDP"/>
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        <balance>-60.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>LONDON METAL EXCHANGE</counterpartyName>
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            <payOffProf>Short</payOffProf>
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      <invstOrSec>
        <name>LONDON METAL EXCHANGE</name>
        <lei>213800NB8G5VRT1DXC91</lei>
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          <ticker value="LMZSDP"/>
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        <balance>61.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>LONDON METAL EXCHANGE</counterpartyName>
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            <payOffProf>Long</payOffProf>
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      <invstOrSec>
        <name>LONDON METAL EXCHANGE</name>
        <lei>213800NB8G5VRT1DXC91</lei>
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        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="LMPBDP"/>
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        <balance>40.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <assetCat>DCO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>LONDON METAL EXCHANGE</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>LEAD</issuerName>
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            <curCd>USD</curCd>
            <unrealizedAppr>-44687.36000000</unrealizedAppr>
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      <invstOrSec>
        <name>LONDON METAL EXCHANGE</name>
        <lei>213800NB8G5VRT1DXC91</lei>
        <title>LME NICKEL CMDY FWD 03/18/2026</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="LMNIDP"/>
        </identifiers>
        <balance>-87.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-1422549.63156250</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>LONDON METAL EXCHANGE</counterpartyName>
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            <payOffProf>Short</payOffProf>
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              <otherRefInst>
                <issuerName>NICKEL</issuerName>
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            <expDate>2026-03-16</expDate>
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        <securityLending>
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      <invstOrSec>
        <name>LONDON METAL EXCHANGE</name>
        <lei>213800NB8G5VRT1DXC91</lei>
        <title>LME NICKEL CMDY FWD 03/18/2026</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="LMNIDP"/>
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        <balance>87.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>1238579.25156250</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>LONDON METAL EXCHANGE</counterpartyName>
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            <payOffProf>Long</payOffProf>
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              <otherRefInst>
                <issuerName>NICKEL</issuerName>
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            <expDate>2026-03-16</expDate>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>LONDON METAL EXCHANGE</name>
        <lei>213800NB8G5VRT1DXC91</lei>
        <title>LME ALUMINUM CMDY FWD 05/20/2026</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="LMAHDP"/>
        </identifiers>
        <balance>-125.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>40295.89000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>LONDON METAL EXCHANGE</counterpartyName>
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            <payOffProf>Short</payOffProf>
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              <otherRefInst>
                <issuerName>ALUMINUM</issuerName>
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            <expDate>2026-05-18</expDate>
            <notionalAmt>-9871702.14000000</notionalAmt>
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            <unrealizedAppr>40295.89000000</unrealizedAppr>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LONDON METAL EXCHANGE</name>
        <lei>213800NB8G5VRT1DXC91</lei>
        <title>LME ALUMINUM CMDY FWD 05/20/2026</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="LMAHDP"/>
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        <balance>125.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>776227.47000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>LONDON METAL EXCHANGE</counterpartyName>
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            <payOffProf>Long</payOffProf>
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        <securityLending>
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      <invstOrSec>
        <name>LONDON METAL EXCHANGE</name>
        <lei>213800NB8G5VRT1DXC91</lei>
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        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="LMAHDP"/>
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        <balance>111.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-53933.18000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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            <payOffProf>Long</payOffProf>
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      <invstOrSec>
        <name>ICE FUTURES US</name>
        <lei>5493004R83R1LVX2IL36</lei>
        <title>COCOA FUTURE JUL26 CCN6</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="CCN6"/>
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        <balance>62.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-805980.29000000</valUSD>
        <pctVal>-0.15263060146</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>ICE FUTURES US</counterpartyName>
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            <payOffProf>Long</payOffProf>
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      <invstOrSec>
        <name>CHICAGO MERCANTILE EXCH INC</name>
        <lei>SNZ2OJLFK8MNNCLQOF39</lei>
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        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="LHM6"/>
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        <balance>113.00000000</balance>
        <units>NC</units>
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        <assetCat>DCO</assetCat>
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      <invstOrSec>
        <name>CHICAGO MERCANTILE EXCH INC</name>
        <lei>SNZ2OJLFK8MNNCLQOF39</lei>
        <title>LIVE CATTLE FUTR JUN26 LCM6</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="LCM6"/>
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        <balance>89.00000000</balance>
        <units>NC</units>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

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        <securityLending>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <lei>254900HROIFWPRGM1V77</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MERRILL LYNCH INTERNATIONAL</name>
        <lei>GGDZP1UYGU9STUHRDP48</lei>
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        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="LVD952000"/>
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        <assetCat>DCO</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>GOLDMAN SACHS BANK USA</name>
        <lei>KD3XUN7C6T14HNAYLU02</lei>
        <title>GS @BCOMF3T LG CM SWAP 02/06/2026 GS 20M</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Internal" value="LVD958000"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>GOLDMAN SACHS BANK USA</counterpartyName>
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      <invstOrSec>
        <name>CITIBANK, N.A.</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
        <title>CITI @BCOMF3T LG CM SWAP 02/13/2026</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="LVF479000"/>
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        <balance>20000000.00000000</balance>
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        <assetCat>DCO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>CITIBANK, N.A.</counterpartyName>
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      <invstOrSec>
        <name>ROYAL BANK OF CANADA</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>RBC @BCOMF3T LG CM SWAP 02/17/2026</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="LVF519000"/>
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        <balance>50000000.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
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              <counterpartyName>ROYAL BANK OF CANADA</counterpartyName>
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            <swapFlag>Y</swapFlag>
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        <name>JPMORGAN CHASE BANK NA NEW YORK NY</name>
        <lei>7H6GLXDRUGQFU57RNE97</lei>
        <title>JPM @BCOMF3T LG CM SWAP 02/20/2026 JP 40M</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="LVH048000"/>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>CITIBANK, N.A.</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
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        <name>GOLDMAN SACHS BANK USA</name>
        <lei>KD3XUN7C6T14HNAYLU02</lei>
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        <name>MERRILL LYNCH INTERNATIONAL</name>
        <lei>GGDZP1UYGU9STUHRDP48</lei>
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            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>28000000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>678087.87000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JPMORGAN CHASE BANK NA NEW YORK NY</name>
        <lei>7H6GLXDRUGQFU57RNE97</lei>
        <title>JPM @BCOMF3T LG CM SWAP 05/08/2026</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="MDD656000"/>
        </identifiers>
        <balance>14000000.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>339043.94000000</valUSD>
        <pctVal>0.064205640173</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>JPMORGAN CHASE BANK NA NEW YORK NY</counterpartyName>
              <counterpartyLei>7H6GLXDRUGQFU57RNE97</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>BLOOMBERG COMMODITY INDEX 3 MONTH FORWARD TOTAL RETURN</indexName>
                <indexIdentifier>BCOMF3T</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="0.00000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="0.00000000"/>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="US AUCTION RESULTS 3M TBILL HD" floatingRtSpread="0.00110000" pmntAmt="0.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="7" resetDt="Day" resetDtUnit="7"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2026-05-08</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>14000000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>339043.94000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ROYAL BANK OF CANADA</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>RBC @BCOMF3T LG CM SWAP 04/27/2026</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="MDD663000"/>
        </identifiers>
        <balance>15000000.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>363261.36000000</valUSD>
        <pctVal>0.068791756517</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>ROYAL BANK OF CANADA</counterpartyName>
              <counterpartyLei>ES7IP3U3RHIGC71XBU11</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>BLOOMBERG COMMODITY INDEX 3 MONTH FORWARD TOTAL RETURN</indexName>
                <indexIdentifier>BCOMF3T</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="0.00000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="0.00000000"/>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="US AUCTION RESULTS 3M TBILL HD" floatingRtSpread="0.00110000" pmntAmt="0.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="7" resetDt="Day" resetDtUnit="7"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2026-04-27</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>15000000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>363261.36000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="As of March 2025, monthly returns presented in Item B.5.a. have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-03-02</ncom:dateSigned>
      <ncom:nameOfApplicant>Laura M. Del Prato</ncom:nameOfApplicant>
      <ncom:signature>Laura M. Del Prato</ncom:signature>
      <ncom:signerName>Laura M. Del Prato</ncom:signerName>
      <ncom:title>President and Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
