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                <indexName>WTI Crude</indexName>
                <indexIdentifier>USCRWTIC</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <expDate>2021-01-20</expDate>
            <notionalAmt>29759279.82000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>1135720.18000000</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>GasOil JPM  Opt Roll Swap (Long)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="CADIS_ID" value="2350524"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-531578.40000000</valUSD>
        <pctVal>-0.02048061672</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>JPMorgan Chase Bank NA</counterpartyName>
              <counterpartyLei>7H6GLXDRUGQFU57RNE97</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>J.P. Moran Contag Beta Gas Oil Excess Return Index</indexName>
                <indexIdentifier>JCTABQSE</indexIdentifier>
                <narrativeDesc>Index comprised of gas oil futures contracts
</narrativeDesc>
              </indexBasketInfo>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">The Fund makes or receives payments based on any positive or negative return on the reference instrument</otherRecDesc>
            <fixedPmntDesc amount="0.00000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="0.25000000"/>
            <terminationDt>2021-04-27</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>24855426.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-531578.40000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>U.S. Treasury Bills</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bills</title>
        <cusip>9127962T5</cusip>
        <identifiers>
          <isin value="US9127962T52"/>
        </identifiers>
        <balance>112700000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>112677189.52000000</valUSD>
        <pctVal>4.341219153964</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-10-29</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>U.S. Treasury Bills</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bills</title>
        <cusip>9127963J6</cusip>
        <identifiers>
          <isin value="US9127963J61"/>
        </identifiers>
        <balance>83500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>83473819.41000000</valUSD>
        <pctVal>3.216073681115</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-12-10</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>GASOLINE RBOB FUT  XBU0 31 Aug 20</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="XBU0"/>
        </identifiers>
        <balance>1172.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-2925950.60000000</valUSD>
        <pctVal>-0.11273082726</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>Merrill Lynch International</counterpartyName>
              <counterpartyLei>GGDZP1UYGU9STUHRDP48</counterpartyLei>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Bloomberg 87 Octane RBOB Gasoline Prompt Month Spot Pipeline Px/New York Harbor</issuerName>
                <issueTitle>NYH RBOB Gasoline</issueTitle>
                <identifiers>
                  <ticker value="RBOB87PM"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-08-31</expDate>
            <notionalAmt>60572177.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-2925950.60000000</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>NY Harb ULSD Fut  Jan21HOF1 COMB</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="HOF1"/>
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        <balance>392.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>262149.14000000</valUSD>
        <pctVal>0.010100064375</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>Merrill Lynch International</counterpartyName>
              <counterpartyLei>GGDZP1UYGU9STUHRDP48</counterpartyLei>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>DUMMY ISSUER FOR COMMODITY FUTURES</issuerName>
                <issueTitle>New York Harbor Ultra-Low Sulfur Diesel</issueTitle>
                <identifiers>
                  <other otherDesc="CADIS_ID" value="385293"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-12-31</expDate>
            <notionalAmt>21012631.66000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>262149.14000000</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>CAN 10YR BOND FUT Sep20CNU0</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="CNU0"/>
        </identifiers>
        <balance>5805.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CAD" exchangeRt="1.33945000"/>
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        <pctVal>0.167682278100</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>Merrill Lynch International</counterpartyName>
              <counterpartyLei>GGDZP1UYGU9STUHRDP48</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Canadian Government Bond</issuerName>
                <issueTitle>Canadian Government Bond</issueTitle>
                <identifiers>
                  <cusip value="135087J39"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-09-21</expDate>
            <notionalAmt>652352637.75000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>4352226.22000000</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>Nat Gas Seasonal BAML Swap (Long)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="CADIS_ID" value="2209201"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>100818.50000000</valUSD>
        <pctVal>0.003884328364</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>Merrill Lynch International</counterpartyName>
              <counterpartyLei>GGDZP1UYGU9STUHRDP48</counterpartyLei>
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            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>MLCX Natural Gas Annual Excess Return Index</indexName>
                <indexIdentifier>MLCXNGAE</indexIdentifier>
                <narrativeDesc>Index comprised of natural gas futures contracts
</narrativeDesc>
              </indexBasketInfo>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">The Fund makes or receives payments based on any positive or negative return on the reference instrument</otherRecDesc>
            <fixedPmntDesc amount="0.00000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="0.25000000"/>
            <terminationDt>2020-11-12</terminationDt>
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            <upfrontRcpt>2265.00000000</upfrontRcpt>
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            <curCd>USD</curCd>
            <unrealizedAppr>98553.50000000</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>Agric FLEX Index 2019-02 CARG Swap (Long)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="CADIS_ID" value="2242709"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>526200.64000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>Cargill Inc</counterpartyName>
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            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>CARGILL 11 COMMODITY INDEX 5 CARGILL 11 COMMODITY INDEX 5</indexName>
                <indexIdentifier>CPAS11C5</indexIdentifier>
                <narrativeDesc>Index comprised of commodity futures contracts
</narrativeDesc>
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            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">The Fund makes or receives payments based on any positive or negative return on the reference instrument</otherRecDesc>
            <fixedPmntDesc amount="0.00000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="0.47000000"/>
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            <upfrontRcpt>0.00000000</upfrontRcpt>
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            <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>Agric Index 2019-08 GS FLEX Swap (Long)</title>
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        <identifiers>
          <other otherDesc="CADIS_ID" value="2204780"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>39727.80000000</valUSD>
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        <assetCat>DCO</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
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              <counterpartyName>Goldman Sachs International</counterpartyName>
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                <indexName>GOLDMAN SACHS COMMODITY I-SELECT STRATEGY 1121 ABGS1121</indexName>
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                <narrativeDesc>Index comprised of commodity futures contracts
</narrativeDesc>
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            <swapFlag>Y</swapFlag>
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            <upfrontRcpt>0.00000000</upfrontRcpt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Invesco Liquid Assets Portfolio</name>
        <lei>549300DC1W0JSX3QRC47</lei>
        <title>Invesco Liquid Assets Portfolio, Institutional Class</title>
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        <identifiers>
          <isin value="US8252527291"/>
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        <balance>163735928.26700000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>163834169.82000000</valUSD>
        <pctVal>6.312191838706</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Aluminum MACQ Dynamic ER Swap (Long)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="CADIS_ID" value="2217932"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-7176.00000000</valUSD>
        <pctVal>-0.00027647644</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
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              <counterpartyName>Macquarie Bank Ltd</counterpartyName>
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              <indexBasketInfo>
                <indexName>Macquarie Aluminum Dynamic Selection Index</indexName>
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                <narrativeDesc>Index comprised of aluminum futures contracts
</narrativeDesc>
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            <swapFlag>Y</swapFlag>
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            <fixedPmntDesc amount="0.00000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="0.30000000"/>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Copper JPM Contag Idx ER Swap (Long)</title>
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        <identifiers>
          <other otherDesc="CADIS_ID" value="2226476"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-140913.60000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
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        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
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              <counterpartyName>JPMorgan Chase Bank NA</counterpartyName>
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                <indexName>J.P. MORGAN CONTAG COPPER CLASS A EXCESS RETURN INDEX J.P. MORGAN CONTAG COPPER CLAS</indexName>
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                <narrativeDesc>Index comprised of copper futures contracts
</narrativeDesc>
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            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">The Fund makes or receives payments based on any positive or negative return on the reference instrument</otherRecDesc>
            <fixedPmntDesc amount="0.00000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="0.25000000"/>
            <terminationDt>2021-01-04</terminationDt>
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            <upfrontRcpt>0.00000000</upfrontRcpt>
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            <notionalAmt>12074797.60000000</notionalAmt>
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            <unrealizedAppr>-140913.60000000</unrealizedAppr>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="XMU0"/>
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        <balance>6550.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="AUD" exchangeRt="1.39967800"/>
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        <payoffProfile>N/A</payoffProfile>
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        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>Merrill Lynch International</counterpartyName>
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            <payOffProf>Long</payOffProf>
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              <otherRefInst>
                <issuerName>Australia Government Bond</issuerName>
                <issueTitle>Australia 10 Year Bonds</issueTitle>
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                  <cusip value="Q0819A902"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-09-15</expDate>
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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>CARG Gold ER Swap (Long)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="CADIS_ID" value="2218474"/>
        </identifiers>
        <balance>1.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DCO</assetCat>
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        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
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              <counterpartyName>Cargill Inc</counterpartyName>
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                  <component>
                    <othIndName>GOLD FUTURES</othIndName>
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                      <cusip value="N/A"/>
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            </descRefInstrmnt>
            <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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        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="ESU0"/>
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        <balance>1040.00000000</balance>
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        <assetCat>DE</assetCat>
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        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>Merrill Lynch International</counterpartyName>
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            <payOffProf>Long</payOffProf>
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              <indexBasketInfo>
                <indexName>S&amp;P 500 Index</indexName>
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              </indexBasketInfo>
            </descRefInstrmnt>
            <expDate>2020-09-18</expDate>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Royal Bank of Canada</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>Royal Bank of Canada</title>
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          <isin value="US78011GBQ91"/>
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        <balance>59900000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>60709049.53000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-09-30</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.10000000</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>
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        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="CADIS_ID" value="2380449"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75030000"/>
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        <pctVal>-0.00629928344</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>Goldman Sachs International</counterpartyName>
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            <descRefInstrmnt>
              <nestedDerivInfo>
                <futrDeriv derivCat="FUT">
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                    <counterpartyName>Merrill Lynch International</counterpartyName>
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                  </counterparties>
                  <derivAddlInfo>
                    <name>N/A</name>
                    <lei>N/A</lei>
                    <title>HANG SENG IDX FUT AUG20HIQ0 COMB SWAP ON FUTURE</title>
                    <cusip>N/A</cusip>
                    <identifiers>
                      <ticker value="HIQ0"/>
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                    <balance>6750.00000000</balance>
                    <units>NC</units>
                    <currencyConditional curCd="HKD" exchangeRt="7.75030000"/>
                    <valUSD>N/A</valUSD>
                    <pctVal>N/A</pctVal>
                    <assetCat>DE</assetCat>
                    <issuerConditional desc="N/A" issuerCat="OTHER"/>
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                  <payOffProf>N/A</payOffProf>
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                    <indexBasketInfo>
                      <indexName>Hang Seng Index</indexName>
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                  <expDate>2020-08-28</expDate>
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            <swapFlag>Y</swapFlag>
            <fixedRecDesc amount="0.00000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="0.00000000"/>
            <otherPmntDesc fixedOrFloating="Other">The Fund makes or receives payments based on any positive or negative return on the reference instrument.</otherPmntDesc>
            <terminationDt>2020-08-28</terminationDt>
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            <upfrontRcpt>0.00000000</upfrontRcpt>
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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>Copper BARC Optim Idx ER Swap (Long)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="CADIS_ID" value="2380612"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-151933.86000000</valUSD>
        <pctVal>-0.00585369750</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>Barclays Bank PLC</counterpartyName>
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            <descRefInstrmnt>
              <indexBasketInfo>
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                  <component>
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                  <component>
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            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">The Fund makes or receives payments based on any positive or negative return on the reference instrument</otherRecDesc>
            <fixedPmntDesc amount="0.00000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="0.26000000"/>
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            <upfrontRcpt>0.00000000</upfrontRcpt>
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            <curCd>USD</curCd>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Invesco Government &amp; Agency Portfolio</name>
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          <isin value="US8252528851"/>
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        <curCd>USD</curCd>
        <valUSD>447418900.79000000</valUSD>
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        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <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>
        <identifiers>
          <ticker value="USU0"/>
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        <balance>1483.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>6276547.55000000</valUSD>
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        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
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                <issuerName>United States Treasury Note/Bond</issuerName>
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              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-09-21</expDate>
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      </invstOrSec>
      <invstOrSec>
        <name>U.S. Treasury Bills</name>
        <lei>254900HROIFWPRGM1V77</lei>
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          <isin value="US9127963V99"/>
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        <balance>136000000.00000000</balance>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>E-Mini Russ 2000  Sep20RTYU0</title>
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          <ticker value="RTYU0"/>
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        <isRestrictedSec>N</isRestrictedSec>

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            <expDate>2020-09-18</expDate>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
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        <isRestrictedSec>N</isRestrictedSec>

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            <swapFlag>Y</swapFlag>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
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        <title>Brent Crude Future</title>
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          <isin value="GB00H1JWQQ56"/>
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        <balance>1363.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Invesco Treasury Obligations Portfolio</name>
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        <name>N/A</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      </invstOrSec>
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        <name>U.S. Treasury Notes</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Invesco Treasury Portfolio</name>
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        <name>Canadian Imperial Bank of Commerce</name>
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        <name>United States Treasury Notes</name>
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        <name>Invesco STIC (Global Series) PLC, U.S. Dollar Liquidity Portfolio</name>
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            <expDate>2020-09-18</expDate>
            <notionalAmt>175050077.53000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-7735933.04000000</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>JPM S&amp;P Gold ER Swap (Long)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="CADIS_ID" value="2197845"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>1810848.00000000</valUSD>
        <pctVal>0.069768229541</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>JPMorgan Chase Bank NA</counterpartyName>
              <counterpartyLei>7H6GLXDRUGQFU57RNE97</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P GSCI Gold Index Excess Return</indexName>
                <indexIdentifier>SPGCGCP</indexIdentifier>
                <narrativeDesc>N/A</narrativeDesc>
                <components>
                  <component>
                    <othIndName>GOLD FUTURES</othIndName>
                    <identifiers>
                      <cusip value="N/A"/>
                    </identifiers>
                    <othIndNotAmt>36732358.00</othIndNotAmt>
                    <othIndValue>1810848.00</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                </components>
              </indexBasketInfo>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">The Fund makes or receives payments based on any positive or negative return on the reference instrument</otherRecDesc>
            <fixedPmntDesc amount="0.00000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="0.09000000"/>
            <terminationDt>2020-10-15</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>36732358.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>1810848.00000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Gold Idx BAML Gold ER Swap (Long)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="CADIS_ID" value="2370672"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>3791813.50000000</valUSD>
        <pctVal>0.146090734642</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>Merrill Lynch International</counterpartyName>
              <counterpartyLei>GGDZP1UYGU9STUHRDP48</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>Merrill Lynch Gold Excess Return Index</indexName>
                <indexIdentifier>MLCX2GCE</indexIdentifier>
                <narrativeDesc>N/A</narrativeDesc>
                <components>
                  <component>
                    <othIndName>GOLD 100 OZ FUTR  Dec20GCZ0 COMB</othIndName>
                    <identifiers>
                      <ticker value="GCZ0"/>
                    </identifiers>
                    <othIndNotAmt>44416308.75000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>3791813.50000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                </components>
              </indexBasketInfo>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">The Fund makes or receives payments based on any positive or negative return on the reference instrument</otherRecDesc>
            <fixedPmntDesc amount="0.00000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="0.14000000"/>
            <terminationDt>2021-06-21</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>44416308.75000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>3791813.50000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2020-09-14</ncom:dateSigned>
      <ncom:nameOfApplicant>AIM Investment Funds (Invesco Investment Funds)</ncom:nameOfApplicant>
      <ncom:signature>Sheri Morris</ncom:signature>
      <ncom:signerName>Sheri Morris</ncom:signerName>
      <ncom:title>President</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
