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                    <pctVal>N/A</pctVal>
                    <assetCat>DE</assetCat>
                    <issuerConditional desc="N/A" issuerCat="OTHER"/>
                  </derivAddlInfo>
                  <payOffProf>N/A</payOffProf>
                  <descRefInstrmnt>
                    <indexBasketInfo>
                      <indexName>HONG KONG HANG SENG INDEX HSI</indexName>
                      <indexIdentifier>HSI</indexIdentifier>
                      <narrativeDesc>N/A</narrativeDesc>
                    </indexBasketInfo>
                  </descRefInstrmnt>
                  <expDate>2020-04-28</expDate>
                  <notionalAmt>151512.14000000</notionalAmt>
                  <curCd>HKD</curCd>
                </futrDeriv>
              </nestedDerivInfo>
            </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"/>
            <terminationDt>2020-04-28</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>HKD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>HKD</rcptCurCd>
            <notionalAmt>50.00000000</notionalAmt>
            <curCd>HKD</curCd>
            <unrealizedAppr>1477.57000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Invesco V.I. Government Money Market Fund</name>
        <lei>549300BTSK7KTYK5O237</lei>
        <title>Invesco V.I. Government Money Market Fund, Series I</title>
        <cusip>008892606</cusip>
        <identifiers>
          <isin value="US0088926060"/>
        </identifiers>
        <balance>16640309.66000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16640309.66000000</valUSD>
        <pctVal>1.900711468896</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Invesco Treasury Portfolio</name>
        <lei>5493004B3TM8ZIDDDC39</lei>
        <title>Invesco Treasury Portfolio, Institutional Class</title>
        <cusip>825252406</cusip>
        <identifiers>
          <isin value="US8252524066"/>
        </identifiers>
        <balance>124122640.61000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>124122640.61000000</valUSD>
        <pctVal>14.17770049822</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>U.S. Treasury Bill</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bill</title>
        <cusip>912796TX7</cusip>
        <identifiers>
          <isin value="US912796TX79"/>
        </identifiers>
        <balance>9730000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9728356.70000000</valUSD>
        <pctVal>1.111205231814</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-06-04</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>TOPIX INDX FUTR   JUN20 TPM0 COMB</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="TPM0"/>
        </identifiers>
        <balance>537.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="JPY" exchangeRt="107.52500000"/>
        <valUSD>1745845.62000000</valUSD>
        <pctVal>0.199416288558</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>Goldman Sachs International</counterpartyName>
              <counterpartyLei>W22LROWP2IHZNBB6K528</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>Tokyo Stock Price Index</indexName>
                <indexIdentifier>TPX</indexIdentifier>
                <narrativeDesc>N/A</narrativeDesc>
              </indexBasketInfo>
            </descRefInstrmnt>
            <expDate>2020-06-11</expDate>
            <notionalAmt>70902083.24000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>1745845.62000000</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>Aluminum MS GSCI Dynamic Roll Swap (Long)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="CADIS_ID" value="2197844"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-794264.31000000</valUSD>
        <pctVal>-0.09072350900</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>Morgan Stanley Capital Services LLC</counterpartyName>
              <counterpartyLei>I7331LVCZKQKX5T7XV54</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P GSCI Aluminum Dynamic Roll Index Excess Return</indexName>
                <indexIdentifier>SPDYIAP</indexIdentifier>
                <narrativeDesc>N/A</narrativeDesc>
                <components>
                  <component>
                    <othIndName>Aluminum Future</othIndName>
                    <identifiers>
                      <cusip value="N/A"/>
                    </identifiers>
                    <othIndNotAmt>11981683.98</othIndNotAmt>
                    <othIndValue>-794264.31</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="0.38000000"/>
            <terminationDt>2020-10-15</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>11981683.98000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-794264.31000000</unrealizedAppr>
          </swapDeriv>
        </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>912796TT6</cusip>
        <identifiers>
          <isin value="US912796TT67"/>
        </identifiers>
        <balance>9750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9735170.25000000</valUSD>
        <pctVal>1.111983498138</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <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>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>United States Treasury Bill</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Bill</title>
        <cusip>912796WW5</cusip>
        <identifiers>
          <isin value="US912796WW59"/>
        </identifiers>
        <balance>35000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>34991554.15000000</valUSD>
        <pctVal>3.996851599901</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-07-09</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>Cargill, Inc.</name>
        <lei>QXZYQNMR4JZ5RIRN4T31</lei>
        <title>Cargill, Inc.</title>
        <cusip>CARGAG377</cusip>
        <identifiers>
          <ticker value="CARGAG37"/>
        </identifiers>
        <balance>11180000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11824579.32000000</valUSD>
        <pctVal>1.350642745695</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-04-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.10000000</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>Invesco Premier U.S. Government Money Portfolio</name>
        <lei>N/A</lei>
        <title>Invesco Premier U.S. Government Money Portfolio, Institutional Class</title>
        <cusip>00142W843</cusip>
        <identifiers>
          <isin value="US00142W8432"/>
        </identifiers>
        <balance>88532828.14000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>88532828.14000000</valUSD>
        <pctVal>10.11251384486</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>
        </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="2121849"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>290115.00000000</valUSD>
        <pctVal>0.033137899418</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</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  Jun20GCM0 COMB</othIndName>
                    <identifiers>
                      <ticker value="GCM0"/>
                    </identifiers>
                    <othIndNotAmt>16906707.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>290115.00000000</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>2020-06-19</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>16906707.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>290115.00000000</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>WTI CRUDE FUTURE   CLV0 22 Sep 20</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="CLV0"/>
        </identifiers>
        <balance>254.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-3841602.17000000</valUSD>
        <pctVal>-0.43880056637</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>Goldman Sachs International</counterpartyName>
              <counterpartyLei>W22LROWP2IHZNBB6K528</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>WTI Crude</issuerName>
                <issueTitle>WTI Crude</issueTitle>
                <identifiers>
                  <ticker value="USCRWTIC"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-09-22</expDate>
            <notionalAmt>11989922.17000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-3841602.17000000</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>GASOLINE RBOB FUT  XBK0 30 Apr 20</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="XBK0"/>
        </identifiers>
        <balance>370.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-649323.22000000</valUSD>
        <pctVal>-0.07416785603</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>Goldman Sachs International</counterpartyName>
              <counterpartyLei>W22LROWP2IHZNBB6K528</counterpartyLei>
            </counterparties>
            <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"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-04-30</expDate>
            <notionalAmt>9859881.22000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-649323.22000000</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>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>48428.40000000</valUSD>
        <pctVal>0.005531652786</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</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>MLCX Natural Gas Annual Excess Return Index</indexName>
                <indexIdentifier>MLCXNGAE</indexIdentifier>
                <narrativeDesc>Index of Natural Gas Futures</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>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>8978.20000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>425889.60000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>39450.20000000</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>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>-1274223.95000000</valUSD>
        <pctVal>-0.14554609410</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</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>
              <counterpartyLei>QXZYQNMR4JZ5RIRN4T31</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>CARGILL 11 COMMODITY INDEX 5 CARGILL 11 COMMODITY INDEX 5</indexName>
                <indexIdentifier>CPAS11C5</indexIdentifier>
                <narrativeDesc>N/A</narrativeDesc>
                <components>
                  <component>
                    <othIndName>Sugar No. 11 Future</othIndName>
                    <identifiers>
                      <cusip value="N/A"/>
                    </identifiers>
                    <othIndNotAmt>3056014.905</othIndNotAmt>
                    <othIndValue>-156856.9682</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>Coffee C Future</othIndName>
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                      <cusip value="N/A"/>
                    </identifiers>
                    <othIndNotAmt>1355470.462</othIndNotAmt>
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                    <othIndIssCurCd>USD</othIndIssCurCd>
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                  <component>
                    <othIndName>Soybean Oil Future</othIndName>
                    <identifiers>
                      <cusip value="N/A"/>
                    </identifiers>
                    <othIndNotAmt>1355470.462</othIndNotAmt>
                    <othIndValue>-69572.62767</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
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                  <component>
                    <othIndName>Soybean Meal Future</othIndName>
                    <identifiers>
                      <cusip value="N/A"/>
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                    <othIndNotAmt>5183557.37</othIndNotAmt>
                    <othIndValue>-266057.9608</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>Lean Hogs Future</othIndName>
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                      <cusip value="N/A"/>
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                    <othIndNotAmt>193638.6374</othIndNotAmt>
                    <othIndValue>-9938.94681</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
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                  <component>
                    <othIndName>Soybeans Future</othIndName>
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                      <cusip value="N/A"/>
                    </identifiers>
                    <othIndNotAmt>5054464.945</othIndNotAmt>
                    <othIndValue>-259431.9962</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>Corn Future</othIndName>
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                      <cusip value="N/A"/>
                    </identifiers>
                    <othIndNotAmt>1420016.674</othIndNotAmt>
                    <othIndValue>-72885.60994</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>Cotton No. 2 Future</othIndName>
                    <identifiers>
                      <cusip value="N/A"/>
                    </identifiers>
                    <othIndNotAmt>5377196.007</othIndNotAmt>
                    <othIndValue>-275996.9076</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>Wheat Future</othIndName>
                    <identifiers>
                      <cusip value="N/A"/>
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                    <othIndNotAmt>1549109.099</othIndNotAmt>
                    <othIndValue>-79511.57448</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>Live Cattle Future</othIndName>
                    <identifiers>
                      <cusip value="N/A"/>
                    </identifiers>
                    <othIndNotAmt>280527.7695</othIndNotAmt>
                    <othIndValue>-14398.73064</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
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                </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="0.47000000"/>
            <terminationDt>2021-02-16</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>24825466.33000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-1274223.95000000</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>912796XG9</cusip>
        <identifiers>
          <isin value="US912796XG90"/>
        </identifiers>
        <balance>35000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>34984316.15000000</valUSD>
        <pctVal>3.996024851488</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</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>
          <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>S&amp;P500 EMINI FUT JUN20</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="ESM0"/>
        </identifiers>
        <balance>327.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-47248.64000000</valUSD>
        <pctVal>-0.00539689667</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>Goldman Sachs International</counterpartyName>
              <counterpartyLei>W22LROWP2IHZNBB6K528</counterpartyLei>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 Index</indexName>
                <indexIdentifier>SPX</indexIdentifier>
                <narrativeDesc>N/A</narrativeDesc>
              </indexBasketInfo>
            </descRefInstrmnt>
            <expDate>2020-06-19</expDate>
            <notionalAmt>42061843.64000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-47248.64000000</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>US LONG BOND(CBT) Jun20USM0 COMB</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="USM0"/>
        </identifiers>
        <balance>626.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>7818382.69000000</valUSD>
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        <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>Goldman Sachs International</counterpartyName>
              <counterpartyLei>W22LROWP2IHZNBB6K528</counterpartyLei>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>United States Treasury Note/Bond</issuerName>
                <issueTitle>U.S. Treasury Bonds</issueTitle>
                <identifiers>
                  <cusip value="912810FT0"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-06-19</expDate>
            <notionalAmt>104274742.31000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>7818382.69000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Invesco Treasury Obligations Portfolio</name>
        <lei>N/A</lei>
        <title>Invesco Treasury Obligations Portfolio, Institutional Class</title>
        <cusip>825252505</cusip>
        <identifiers>
          <isin value="US8252525055"/>
        </identifiers>
        <balance>171324066.89000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>171324066.89000000</valUSD>
        <pctVal>19.56920426899</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Agric Index 2019-08 GS FLEX Swap (Long)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="CADIS_ID" value="2204780"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-653132.03000000</valUSD>
        <pctVal>-0.07460291097</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</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>
              <counterpartyLei>W22LROWP2IHZNBB6K528</counterpartyLei>
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            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>GOLDMAN SACHS COMMODITY I-SELECT STRATEGY 1121 ABGS1121</indexName>
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                <components>
                  <component>
                    <othIndName>Soybean Meal Future</othIndName>
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                  <component>
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                  <component>
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                  <component>
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                  <component>
                    <othIndName>Corn Future</othIndName>
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                  <component>
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                    <othIndNotAmt>189255.3022</othIndNotAmt>
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                  <component>
                    <othIndName>Coffee C Future</othIndName>
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                  </component>
                  <component>
                    <othIndName>Wheat Future</othIndName>
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                      <cusip value="N/A"/>
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                    <othIndNotAmt>1514042.417</othIndNotAmt>
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              </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="0.40000000"/>
            <terminationDt>2020-10-29</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
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            <upfrontRcpt>0.00000000</upfrontRcpt>
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            <unrealizedAppr>-653132.03000000</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>Copper BARC Optim Idx ER Swap (Long)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="CADIS_ID" value="2238528"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-428691.20000000</valUSD>
        <pctVal>-0.04896653350</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCR</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>
              <counterpartyLei>G5GSEF7VJP5I7OUK5573</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>BARCLAYS COMMODITY STRATEGY 52 BARCLAYS COMMODITY STRATEGY 52</indexName>
                <indexIdentifier>BXCS1452</indexIdentifier>
                <narrativeDesc>Index of Copper Futures</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="0.33000000"/>
            <terminationDt>2021-02-05</terminationDt>
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            <upfrontRcpt>0.00000000</upfrontRcpt>
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            <unrealizedAppr>-428691.20000000</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>LONG GILT FUTURE  Jun20G M0</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H7W77Q67"/>
        </identifiers>
        <balance>597.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="GBP" exchangeRt="0.80508800"/>
        <valUSD>1447733.32000000</valUSD>
        <pctVal>0.165364910957</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>Goldman Sachs International</counterpartyName>
              <counterpartyLei>W22LROWP2IHZNBB6K528</counterpartyLei>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>United Kingdom Gilt</issuerName>
                <issueTitle>United Kingdom Gilt 4.750 Dec 07 30</issueTitle>
                <identifiers>
                  <cusip value="EG8729493"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-06-26</expDate>
            <notionalAmt>103930381.94000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>1447733.32000000</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>NY Harb ULSD Fut   HOK0 30 Apr 20</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="HOK0"/>
        </identifiers>
        <balance>110.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-2346587.17000000</valUSD>
        <pctVal>-0.26803498479</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">
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              <counterpartyName>Goldman Sachs International</counterpartyName>
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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"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-04-30</expDate>
            <notionalAmt>6973517.17000000</notionalAmt>
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            <unrealizedAppr>-2346587.17000000</unrealizedAppr>
          </futrDeriv>
        </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>E-Mini Russ 2000  Jun20RTYM0</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="RTYM0"/>
        </identifiers>
        <balance>785.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-1779970.43000000</valUSD>
        <pctVal>-0.20331413776</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>Goldman Sachs International</counterpartyName>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
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        <name>Canadian Imperial Bank of Commerce</name>
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        <name>N/A</name>
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        <name>N/A</name>
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                    <othIndNotAmt>5314984.603</othIndNotAmt>
                    <othIndValue>129720.7003</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>Wheat Future</othIndName>
                    <identifiers>
                      <cusip value="N/A"/>
                    </identifiers>
                    <othIndNotAmt>1531186.7</othIndNotAmt>
                    <othIndValue>37371.06048</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>Soybean Meal Future</othIndName>
                    <identifiers>
                      <cusip value="N/A"/>
                    </identifiers>
                    <othIndNotAmt>5123586.266</othIndNotAmt>
                    <othIndValue>125049.3178</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="0.45000000"/>
            <terminationDt>2021-02-19</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>24538248.40000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>598895.20000000</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>HANG SENG IDX FUT Apr20HIJ0 COMB</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="HIJ0"/>
        </identifiers>
        <balance>345.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="HKD" exchangeRt="7.75275000"/>
        <valUSD>767718.30000000</valUSD>
        <pctVal>0.087691335528</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>Goldman Sachs International</counterpartyName>
              <counterpartyLei>W22LROWP2IHZNBB6K528</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>HONG KONG HANG SENG INDEX HSI</indexName>
                <indexIdentifier>HSI</indexIdentifier>
                <narrativeDesc>N/A</narrativeDesc>
              </indexBasketInfo>
            </descRefInstrmnt>
            <expDate>2020-04-28</expDate>
            <notionalAmt>52014546.17000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>767718.30000000</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>AUST 10Y BOND FUT Jun20XMM0 COMB</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="XMM0"/>
        </identifiers>
        <balance>2991.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="AUD" exchangeRt="1.62575200"/>
        <valUSD>-1237519.52000000</valUSD>
        <pctVal>-0.14135359213</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>Goldman Sachs International</counterpartyName>
              <counterpartyLei>W22LROWP2IHZNBB6K528</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Australia Government Bond</issuerName>
                <issueTitle>Australia 10 Year Bonds</issueTitle>
                <identifiers>
                  <cusip value="Q0819A902"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-06-15</expDate>
            <notionalAmt>290338399.80000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-1237519.52000000</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>SILVER FUTURE      SIK0 27 May 20</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="SIK0"/>
        </identifiers>
        <balance>274.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-5803671.38000000</valUSD>
        <pctVal>-0.66291463194</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>Goldman Sachs International</counterpartyName>
              <counterpartyLei>W22LROWP2IHZNBB6K528</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>DUMMY ISSUER FOR COMMODITY FUTURES</issuerName>
                <issueTitle>Silver</issueTitle>
                <identifiers>
                  <other otherDesc="CADIS_ID" value="384949"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-05-27</expDate>
            <notionalAmt>25197391.38000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-5803671.38000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Invesco Government &amp; Agency Portfolio</name>
        <lei>5493007T1J7WZ5QI1A47</lei>
        <title>Invesco Government &amp; Agency Portfolio, Institutional Class</title>
        <cusip>825252885</cusip>
        <identifiers>
          <isin value="US8252528851"/>
        </identifiers>
        <balance>195703995.17000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>195703995.17000000</valUSD>
        <pctVal>22.35396069718</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>EURO STOXX 50      VGM0 19 Jun 20</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DE000C2EZL67"/>
        </identifiers>
        <balance>1515.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.90670100"/>
        <valUSD>5254051.50000000</valUSD>
        <pctVal>0.600135222737</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>Goldman Sachs International</counterpartyName>
              <counterpartyLei>W22LROWP2IHZNBB6K528</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>EURO STOXX 50 Index</indexName>
                <indexIdentifier>SX5E</indexIdentifier>
                <narrativeDesc>N/A</narrativeDesc>
              </indexBasketInfo>
            </descRefInstrmnt>
            <expDate>2020-06-19</expDate>
            <notionalAmt>40729799.71000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>5254051.50000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2020-05-26</ncom:dateSigned>
      <ncom:nameOfApplicant>AIM Variable Insurance Funds (Invesco Variable Insurance 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>
