DBB on NYSE

INVESCO DB BASE METALS FUND

INVESCO DB BASE METALS FUND is an American commodity contracts brokers and dealers company based in Atlanta.2 Its shares trade on NYSE under the symbol DBB.2

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Last updated Oct 20, 2026.

Overview

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  • TickerDBB on NYSE2
  • IndustryCommodity Contracts Brokers & Dealers2
  • HeadquartersAtlanta, United States2
  • Incorporated inDE3
  • Business address3500 Lacey Road, Suite 700, Downers Grove, Il 605153
  • Filer categoryNon-accelerated filer, Smaller reporting company3
  • Legal formFund2
  • Kind of organizationFund2
  • LEI549300I8WTPB4O7RVF322
  • StatusActive2
  • LEI statusIssued and current2
  • Registered addressC/O WILMINGTON TRUST COMPANY, 19890 Wilmington, United States2
  • Registered withSecurities and Exchange Commission, 00013830842

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Invesco DB Base Metals Fund (the “Fund”), a separate series of Invesco DB Multi-Sector Commodity Trust (the “Trust”), a Delaware statutory trust organized in seven separate series, was formed on August 3, 2006. The term of the Fund is perpetual (unless terminated earlier in certain circumstances) as provided for in the Fifth Amended and Restated Declaration of Trust and Trust Agreement of the Fund, as amended (the “Trust Agreement”). The Fund has an unlimited number of shares authorized for issuance.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Financial statements

Operating income56789$4.0M in 2025+92% since 2019
-$5.0M0$5.0M$10.0M2019: $2.1M$2.1M20192020: -$306.5K-$306.5K20202021: -$2.7M-$2.7M2021+777%2022: $2.7M$2.7M20222023: $9.6M$9.6M2023+260%2024: $5.9M$5.9M2024−39%2025: $4.0M$4.0M2025−31%
Net income56789$30.6M in 2025
-$100.0M-$50.0M0$50.0M$100.0M2019: -$744.0K-$744.0K20192020: $20.6M$20.6M20202021: $80.6M$80.6M2021+292%2022: -$66.0M-$66.0M20222023: -$6.0M-$6.0M2023−91%2024: $7.5M$7.5M20242025: $30.6M$30.6M2025+309%

Every line of the income statement as filed: the last 3 fiscal years, latest first.9

Period ending2025-12-312024-12-312023-12-31
Interest Income$1.8M$4.1M$5.0M
Dividends from Affiliates$3.2M$2.8M$6.0M
Total Income$5.0M$6.9M$11.0M
Management Fees$925.7K$1.0M$1.4M
Brokerage Commissions and Fees$66.9K$45.5K$70.9K
Interest Expense$2.0K$9.9K$42.6K
Total Expenses$994.5K$1.1M$1.5M
Less: Waivers-$76.0K-$50.5K-$115.9K
Net Expenses$918.5K$1.0M$1.4M
Net Investment Income (Loss)$4.0M$5.9M$9.6M
United States Treasury Obligations$0-$3$0
Affiliated Investments$0$9.8K$0
Commodity Futures Contracts$5.1M$7.0M-$55.6M
Net Realized Gain (Loss)$5.1M$7.0M-$55.6M
United States Treasury Obligations-$52.3K$762$5.8K
Affiliated Investments$0$15.4K$50.3K
Commodity Futures Contracts$21.5M-$5.4M$39.9M
Net Change in Unrealized Gain (Loss)$21.4M-$5.4M$40.0M
Net Realized and Net Change in Unrealized Gain (Loss) on United States Treasury Obligations, Affiliated Investments and Commodity Futures Contracts$26.6M$1.6M-$15.6M
Net Income (Loss)$30.6M$7.5M-$6.0M

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Corporate structure

INVESCO DB BASE METALS FUND sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of INVESCO DB BASE METALS FUND

  • Invesco Filed SC 13G/A on INVESCO DB BASE METALS FUND, latest Aug 9, 2024 (6 filings since Oct 12, 2021)
  • INVESCO DB BASE METALS FUND Atlanta, Georgia, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What INVESCO DB BASE METALS FUND reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Properties, in its own words

The Fund does not own or use physical properties in the conduct of its business. Its assets consist of futures contracts, cash, United States Treasury Obligations and may consist of money market mutual funds and/or T-Bill ETFs. The Managing Owner’s headquarters are located at 3500 Lacey Road, Suite 700, Downers Grove, Illinois 60515.

Item 2 of the 10-K filed Mar 2, 2026.4

Subsidiaries and ownership

Fund manager

Ownership links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); each one cites its LEI record.

Former names

  • POWERSHARES DB BASE METALS FUNDDec 26, 2006 to Jun 4, 20183

Timeline

  1. Aug 3, 20268-K Executive or director change15
  2. Jun 8, 20268-K Executive or director change16
  3. Nov 10, 20258-K Other events17
  4. Sep 26, 20258-K Other events18
  5. Aug 2, 20248-K Executive or director change19
  6. Nov 28, 20238-K Executive or director change20
  7. Dec 15, 2017Founded INVESCO DB BASE METALS FUND is founded2

Filings

55 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 6 major events, 6 large holders, 23 other. The latest 20:

  1. Aug 26, 2026424B3 EDGAR
  2. Aug 7, 202610-Q EDGAR
  3. Aug 3, 2026424B3 EDGAR
  4. Aug 3, 20268-K EDGAR
  5. Jun 8, 20268-K EDGAR
  6. May 7, 202610-Q EDGAR
  7. Mar 27, 2026424I EDGAR
  8. Mar 2, 202610-K EDGAR
  9. Nov 10, 2025424B3 EDGAR
  10. Nov 10, 20258-K/A EDGAR
  11. Nov 7, 202510-Q EDGAR
  12. Sep 26, 2025424B3 EDGAR
  13. Sep 26, 20258-K EDGAR
  14. Aug 26, 2025424B3 EDGAR
  15. Aug 7, 202510-Q EDGAR
  16. May 8, 202510-Q EDGAR
  17. Mar 26, 2025424I EDGAR
  18. Feb 26, 202510-K EDGAR
  19. Nov 12, 2024424B3 EDGAR
  20. Nov 7, 202410-Q EDGAR

The 55 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

  • InvescoSC 13G/A, 6 filings Oct 12, 2021 to Aug 9, 202421

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 84. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Wells Fargo & Company/mn1,142,980$27.5M0.0%+319,926
Bank Of America Corp /de/615,771$14.8M0.0%+232,484
UBS Group AG435,135$10.5M0.0%+191,578
Morgan Stanley293,085$7.1M0.0%+142,619
Cambria Investment Management, L.P.282,185$6.8M0.3%−152,650
Manufacturers Life Insurance Company, The245,621$5.9M0.0%+168,112
Scotia Capital Inc.244,332$5.9M0.0%+6,346
LPL Financial LLC175,886$4.2M0.0%+3,156
HighTower Advisors, LLC168,988$4.1M0.0%−62,715
RPg Family Wealth Advisory, LLC161,605$3.9M0.4%+76,319
Solstein Capital, LLC158,890$3.8M1.3%+33,023
Advisory Services Network, LLC145,266$3.5M0.0%+143,050
Ameriprise Financial Inc137,577$3.3M0.0%+11,191
GenTrust, LLC122,364$2.9M0.1%No change
Belvedere Trading LLC92,031$2.2M0.2%+83,119
Risk Paradigm Group, LLC83,585$2.0M1.6%−1,611
Cetera Investment Advisers82,391$2.0M0.0%+48,541
Daiwa Securities Group Inc.79,700$1.9M0.0%−15,100
Simplex Trading, LLC68,918$1.7M0.0%+57,676
Modern Wealth Management, LLC58,095$1.4M0.0%−1,075
Sanctuary Advisors, LLC52,133$1.3M0.0%+762
Stifel Financial Corp49,297$1.2M0.0%+23,370
Raymond James Financial Inc47,622$1.1M0.0%+7,350
Jane Street Group, LLC43,399$1.0M0.0%−7,125
Lansing Street Advisors40,650$979.7K0.2%New

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How INVESCO DB BASE METALS FUND is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARINVESCO DB BASE METALS FUND1
  • CIK0001383084
  • Employer ID (EIN)87-07780754
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company4
  • Incorporated inDelaware4
  • Fiscal year endsDecember 311
  • Industry code (SIC)6221 Commodity Contracts Brokers & Dealers1
  • SEC reviewing officeOffice of Crypto Assets, Division of Corporation Finance1
  • Business address3500 Lacey Road, Suite 700, Downers Grove, IL 605151
  • Phone800-983-09031
  • Shares outstanding14,450,000 as of Jun 30, 202610
  • Public float$117.1M as of Jun 30, 20254
  • AuditorPricewaterhouseCoopers LLP, Chicago, Illinois PCAOB ID 238; it also attests to the company’s internal control over financial reporting4
  • On EDGAR sinceDec 26, 20061
  • Filings358 in all: 424B3 (67), 10-Q (59), 8-K (59), SC 13G/A (37), 10-K (19), EFFECT (17), CORRESP (15), UPLOAD (14)1
    All 28 form types

    IRANNOTICE (13), POS AM (8), S-3 (8), SC 13G (8), S-3/A (6), 424I (5), FWP (4), S-1 (4), 10-K/A (2), 8-A12B (2), S-1/A (2), 10-Q/A (1), 25 (1), 8-K/A (1), CERTAMX (1), CERTPAC (1), DEF 14A (1), NT 10-Q (1), PRE 14A (1), RW (1)

  • Latest filingsAnnual report (10-K) Mar 2, 2026
    Quarterly report (10-Q) Aug 7, 2026
    Proxy statement (DEF 14A) Jan 23, 2015
    Latest 8-K (8-K) Aug 3, 2026

Securities registered for trading

ClassSymbolExchange
Common Units of Beneficial InterestDBBNYSE Arca, Inc.

From the cover page of the 10-K filed Mar 2, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

The risks INVESCO DB BASE METALS FUND names in Item 1A of its 10-K filed Mar 2, 2026: 47 risks under these headings, as written.4

  • Market Risks
  • Fluctuations in the Price of Assets Held by the Fund Could Have a Materially Adverse Effect on the Value of an Investment in Shares.
  • NAV May Not Always Correspond to Market Price and, as a Result, Creation Units May Be Created or Redeemed at a Value that Differs from the Market Price of the Shares.
  • The NYSE Arca May Halt Trading in the Shares Which Would Adversely Impact Your Ability to Sell Shares.
  • The Lack of an Active Trading Market for the Shares May Result in Losses on Your Investment at the Time of Disposition of Your Shares.
  • Volatility May Cause the Total Loss of Your Investment.
  • Other Market Participants’ Trading of Index Contracts May Adversely Affect the Price that the Fund Pays for Index Contracts.
  • Withdrawal from Participation by Authorized Participants May Affect the Liquidity of Shares.
  • Possible Illiquid Markets May Exacerbate Losses.
  • Trading on Futures Exchanges Outside the United States Is Not Subject to U.S. Regulation.
  • International Armed Conflicts or Political Turmoil May Result in Market Volatility that Could Adversely Affect the Fund's Performance.
  • The Effect of Market Disruptions and Government Interventions Are Unpredictable and May Have an Adverse Effect on the Value of Your Shares.
The other 36 risks
  • The NAV Calculation of the Fund May Be Overstated or Understated Due to the Valuation Method Employed When a Settlement Price is Not Available on the Date of NAV Calculation.
  • Fund Closures and Trading Halts may Impact the Price of Shares.
  • Futures Risks
  • Margin Requirements and Risk Limits for Futures Contracts may Limit the Fund’s Ability to Achieve Sufficient Exposure and Prevent the Fund from Achieving its Investment Objective.
  • Trading Limitations Could Be Imposed on the Fund.
  • Because the Index Contracts Have No Intrinsic Value, the Positive Performance of Your Investment Is Wholly Dependent Upon an Equal and Offsetting Loss.
  • The Fund May Not Provide a Diversification Benefit to Investments in Other Asset Classes and May Result in Additional Losses to Your Portfolio.
  • The Fund’s Returns from Futures Trading Will Be Affected by Market Conditions When Replacing Expiring Futures Contracts with New Futures Contracts on Index Commodities.
  • The Fund’s Performance May Not Always Replicate the Changes in the Levels of its Index.
  • The Fund Is Not Actively Managed and Tracks the Index During Periods in Which the Index Is Flat or Declining as well as When the Index Is Rising.
  • Fewer Representative Commodities May Result in Greater Index Volatility.
  • Unusually Long Peak-to-Valley Drawdown Periods with Respect to the Index May Be Reflected in Equally Long Peak-to-Valley Drawdown Periods with Respect to the Performance of the Shares.
  • Regulatory Risks
  • Position Limits and Other Potential Limitations on Futures Trading May Restrict the Creation of Creation Units and the Operation of the Fund.
  • Failure of FCMs or Commodity Brokers to Segregate Assets May Cause Losses for the Fund.
  • The Fund’s Performance Could Be Adversely Affected if the Commodity Broker Reduces its Internal Risk Limits for the Fund.
  • Regulatory Changes or Actions May Alter the Operations and Profitability of the Fund.
  • The Fund and the Managing Owner Are Subject to Extensive Legal and Regulatory Requirements.
  • Shareholders Will Be Subject to Taxation on Their Allocable Share of the Fund’s Taxable Income, Whether or Not They Receive Cash Distributions.
  • Items of Income, Gain, Loss and Deduction with Respect to Shares Could Be Reallocated if the Internal Revenue Service Does Not Accept the Assumptions or Conventions Used by the Fund in Allocating Such Items.
  • No Deduction for Qualified Publicly Traded Partnership Income.
  • General Risks
  • An Insolvency Resulting from Another Series of the Trust or the Trust Itself May Have a Material Adverse Effect on the Fund.
  • Disruptions in the Ability to Create and Redeem Creation Units May Adversely Affect Investors.
  • The Shares Could Decrease in Value if Unanticipated Operational or Trading Problems Arise.
  • Historical Performance of the Fund and the Index is Not Indicative of Future Performance.
  • Fees and Expenses May Deplete the Fund’s Assets if the Fund’s Investment Performance is Not Favorable.
  • There May Be Circumstances That Could Prevent the Fund from Being Operated in a Manner Consistent with its Investment Objective.
  • Redemption Orders for Creation Units May Be Subject to Postponement, Suspension or Rejection Under Certain Circumstances.
  • Shareholders Do Not Have the Protections Associated with Ownership of Shares in an Investment Company Registered Under the Investment Company Act of 1940.
  • Shareholders Do Not Have the Rights Enjoyed by Investors in Certain Other Vehicles.
  • Various Actual and Potential Conflicts of Interest May Be Detrimental to Shareholders.
  • You May Be Adversely Impacted by the Lack of Independent Advisers Representing Investors.
  • Possibility of Termination of the Fund May Adversely Affect Your Portfolio.
  • Competing Claims Over Ownership of Intellectual Property Rights Related to the Fund Could Adversely Affect the Fund and an Investment in the Shares.
  • The Value of the Shares Will Be Adversely Affected if the Fund Is Required to Indemnify the Trustee or the Managing Owner.
  • Although the Shares Are Limited Liability Investments, Certain Circumstances such as Bankruptcy of the Fund or Indemnification of the Fund by the Shareholders Will Increase a Shareholder’s Liability.
  • The Fund May Lose Money on Its Holdings of Money Market Mutual Funds.
  • Due to the Increased Use of Technologies, Intentional and Unintentional Cyber Attacks Pose Operational and Information Security Risks.

Sources

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