Here are the 10-Q quarterly reports from Invesco DB Agriculture Fund (DBA) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow DBA and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full DBA filings page.
Invesco DB Agriculture Fund (DBA) reported net income of $59.02 million for the third quarter of 2026 and $79.17 million for the first nine months, compared with $16.88 million and $441,670, respectively, in 2025. Nine-month total return at net asset value was 10.22%, versus 0.75% in 2025; net asset value per share was $28.15 on September 30, 2026, compared with $25.54 on December 31, 2025.
The Fund seeks to track an agriculture commodities index mainly through long commodity futures, with affiliated money-market and Treasury ETF holdings used for cash management and collateral. At September 30, total assets were $1.338 billion and 46,800,000 shares were outstanding; open futures had $49.41 million of net unrealized appreciation. Nine-month average monthly futures notional value was $1.110 billion. Operating activities used $527.11 million in cash, while financing activities provided $527.11 million. The Fund reports that futures-market changes and counterparty nonperformance expose it to potential loss.
Invesco DB Agriculture Fund seeks to track the DBIQ Diversified Agriculture Index Excess Return™ by holding a diversified long portfolio of exchange-traded agriculture futures, collateralized primarily by affiliated cash instruments. As of June 30, 2026, total assets were $1,197,881,576 and shareholders’ equity was $1,153,084,114, with 43,200,000 Shares outstanding and a net asset value of $26.69 per Share (market price $26.68).
For the six months ended June 30, 2026, the Fund recorded net income of $20,149,828, compared with a net loss of $16,436,975 a year earlier. Net investment income was $14,110,774, and commodity futures produced a combined realized and unrealized gain of $6,129,758. The total return at NAV was 4.50% for the six-month period, despite a 2.09% NAV decline in the second quarter.
Collateral is concentrated in affiliated vehicles: the Invesco Government & Agency Portfolio money market fund represented 81.92% of shareholders’ equity and the Invesco Short Term Treasury ETF 10.38%, together totaling 92.30%. Open long futures positions across corn, soy, wheat, livestock and soft commodities had aggregate unrealized depreciation of $12,450,243, with average futures notional exposure of $1,025,533,739 over the six-month period, broadly in line with the Fund’s NAV.
Invesco DB Agriculture Fund reported strong results for the three months ended March 31, 2026, driven by gains on agricultural commodity futures. Net income was $55.7 million, compared with a net loss in the prior-year period, as both realized and unrealized futures gains were positive.
Total assets rose to $1.22 billion, with shareholders’ equity at a similar level and Shares outstanding increasing to 44.65 million. Net asset value per Share increased from $25.54 to $27.26, while market price per Share ended at $27.32, producing a 6.73% total return at NAV for the quarter.
The Fund continued to follow its strategy of tracking the DBIQ Diversified Agriculture Index Excess Return through long futures positions across corn, soybeans, wheat, sugar, cocoa, coffee, cotton and livestock, supported by substantial collateral in affiliated money market and short‑term Treasury funds.
Invesco DB Agriculture Fund (DBA) filed its quarterly report for the period ended September 30, 2025. The fund reported net income of $16,878,645 for Q3, driven by $8,245,812 of interest and dividend income and gains from futures revaluation, offset by a realized loss on commodity futures.
Net asset value per share was $26.80 with 29,550,000 shares outstanding, compared with $26.60 and 29,600,000 at year-end. Total assets were $792,318,266 and shareholders’ equity was $791,801,234. Affiliated investments (Invesco Government & Agency Portfolio and Invesco Short Term Treasury ETF) represented 80.96% of equity, while open commodity futures positions produced a net unrealized depreciation of $2,943,406 at quarter-end. Average notional futures exposure was $790,199,899 in the quarter.
The fund recorded nine‑month net income of $441,670 as realized gains earlier in the year were offset by subsequent unrealized losses. A subsequent event notes Index methodology changes effective November 10, 2025, including expanded commodities, modified Optimum Yield selection, annual weight reviews with caps/floors, and intra‑year rebalancing triggers.