GSG on NYSE

iShares S&P GSCI Commodity-Indexed Trust

IShares S&P GSCI Commodity-Indexed Trust is an American commodity contracts brokers and dealers company based in San Francisco.2 Its shares trade on NYSE under the symbol GSG.2

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Last updated Oct 20, 2026.

Overview

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  • TickerGSG on NYSE2
  • IndustryCommodity Contracts Brokers & Dealers2
  • HeadquartersSan Francisco, United States2
  • Incorporated inDE3
  • Business address400 Howard Street, San Francisco, Ca 941053
  • Filer categoryLarge accelerated filer3
  • Legal formStatutory Trust2
  • Kind of organizationFund2
  • LEI549300NT1VHB0L3ZBS972
  • StatusActive2
  • LEI statusIssued and current2
  • Registered addressc/o WILMINGTON TRUST COMPANY; RODNEY SQUARE NORTH 1100 N. MARKET STREET, 19890 Wilmington, United States2
  • Registered withDivision of Corporations, Department of State, 40786282

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The iShares S&P GSCI™ Commodity-Indexed Trust (the “Trust”) is a Delaware statutory trust that issues units of beneficial interest, called “Shares,” representing fractional undivided beneficial interests in its net assets. The Trust’s assets consist of long positions in exchange-traded index futures contracts of various expirations (the “Index Futures”) on the S&P GSCI™ Excess Return Index (the “S&P GSCI-ER”), together with cash, U.S. Treasury securities or other short-term securities and similar securities that are eligible as margin deposits for those Index Futures positions (the “Collateral Assets”). The Trust seeks to track the results, before expenses and liabilities, of the S&P GSCI Total Return Index (the “Index”), which represents a diversified, fully collateralized investment in futures contracts.4 From its latest annual report

Financials

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

Key numbers, fiscal 2025

80.5%Operating margin5
133.9%Net margin5
-17.0%Revenue growth, 20255

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Profit100¢$57.0M

Out of $42.5M in revenue.5

Financial statements

Revenue67895$42.5M in 2025+99% since 2019
0$20.0M$40.0M$60.0M2019: $21.4M$21.4M20192020: $3.7M$3.7M2020−83%2021: $426.0K$426.0K2021−89%2022: $22.3M$22.3M2022+5136%2023: $52.6M$52.6M2023+136%2024: $51.3M$51.3M2024−2%2025: $42.5M$42.5M2025−17%
Operating income67895$34.3M in 2025+163% since 2019
-$20.0M0$20.0M$40.0M$60.0M2019: $13.0M$13.0M20192020: -$2.3M-$2.3M20202021: -$10.4M-$10.4M2021+356%2022: $7.5M$7.5M20222023: $43.7M$43.7M2023+480%2024: $43.1M$43.1M2024−1%2025: $34.3M$34.3M2025−21%
Net income67895$57.0M in 2025−67% since 2019
-$200.0M0$200.0M$400.0M2019: $174.9M$174.9M20192020: -$183.6M-$183.6M20202021: $366.0M$366.0M20212022: $390.8M$390.8M2022+7%2023: -$66.5M-$66.5M20232024: $70.0M$70.0M20242025: $57.0M$57.0M2025−19%

Every line of the income statement as filed: the last 3 fiscal years, latest first.5

Period ending2025-12-312024-12-312023-12-31
Interest$42.5M$51.3M$52.6M
Total investment income$42.5M$51.3M$52.6M
Sponsors fees$7.6M$7.4M$8.0M
Brokerage commissions and fees$694.9K$749.6K$863.1K
Total expenses$8.3M$8.1M$8.9M
Net investment income$34.3M$43.1M$43.7M
Short-term investments$5.8K$5.5K$26.1K
Futures contracts$69.3M$2.6M-$58.1M
Net realized gain (loss)$69.3M$2.6M-$58.1M
Short-term investments$27.8K-$189.3K$28.4K
Futures contracts-$46.6M$24.4M-$52.2M
Net change in unrealized appreciation/depreciation-$46.6M$24.2M-$52.1M
Net realized and unrealized gain (loss)$22.7M$26.9M-$110.2M
Net increase (decrease) in net assets resulting from operations$57.0M$70.0M-$66.5M
Net increase (decrease) in net assets per Share (in dollars per share)$1.26$1.53-$1.28

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Corporate structure

iShares S&P GSCI Commodity-Indexed Trust 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 iShares S&P GSCI Commodity-Indexed Trust

  • BlackRock Portfolio Management LLC Filed SCHEDULE 13G on iShares S&P GSCI Commodity-Indexed Trust, latest Sep 4, 2026
  • iShares S&P GSCI Commodity-Indexed Trust San Francisco, California, 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 iShares S&P GSCI Commodity-Indexed Trust 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.

Investments

ItemLatestA year beforeChange
Marketable securities, current$1.0B5 Dec 31, 2025$927.4M5 Dec 31, 2024+12.2%

Former names

  • iShares GSCI Commodity Indexed TrustJul 22, 2005 to May 9, 20073

Timeline

  1. Mar 31, 20268-K Executive or director change13
  2. Apr 26, 20248-K Executive or director change14
  3. Jun 6, 20228-K Executive or director change15
  4. Apr 1, 20228-K Entered a material agreement; Change to shareholders' rights16
  5. Mar 8, 20228-K Executive or director change17
  6. Jul 7, 2006Founded iShares S&P GSCI Commodity-Indexed Trust is founded2

Filings

45 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 5 major events, 1 large holders, 19 other. The latest 20:

  1. Sep 4, 2026SCHEDULE 13G EDGAR
  2. Aug 6, 202610-Q EDGAR
  3. May 22, 2026424B3 EDGAR
  4. May 7, 2026IRANNOTICE EDGAR
  5. May 7, 202610-Q EDGAR
  6. Mar 31, 2026424I EDGAR
  7. Mar 31, 20268-K EDGAR
  8. Feb 27, 202610-K EDGAR
  9. Feb 27, 2026IRANNOTICE EDGAR
  10. Nov 13, 2025FWP EDGAR
  11. Nov 6, 202510-Q EDGAR
  12. Aug 5, 202510-Q EDGAR
  13. May 23, 2025424B3 EDGAR
  14. May 7, 202510-Q EDGAR
  15. Mar 31, 2025424I FORM 424(I) EDGAR
  16. Feb 19, 202510-K EDGAR
  17. Nov 7, 202410-Q EDGAR
  18. Aug 8, 202410-Q EDGAR
  19. May 24, 2024424B3 EDGAR
  20. May 8, 202410-Q EDGAR

The 45 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.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.2,890,090$82.7M0.0%−528,042
Morgan Stanley1,121,925$32.1M0.0%−28,172
Mizuho Bank, Ltd.1,100,000$31.5M6.7%New
Usa Financial Formulas955,933$27.3M5.0%New
Quent Capital, LLC935,686$26.8M1.6%+7,759
Bank Of America Corp /de/779,360$22.3M0.0%+131,324
Strategic Investment Management, LLC705,972$20.2M6.9%No change
Jpmorgan Chase & Co698,134$19.9M0.0%+642,203
Sumitomo Life Insurance Co615,300$17.6M0.3%−31,028
Goldman Sachs Group Inc428,998$12.3M0.0%+103,515
Wells Fargo & Company/mn260,929$7.5M0.0%−717,698
Deutsche Bank Ag\257,882$7.4M0.0%−4,130
Alliance Wealth Advisors, LLC /UT215,498$6.2M1.2%+45,719
HighTower Advisors, LLC197,803$5.7M0.0%+772
DT Investment Partners, LLC171,422$4.9M0.4%−1,368
Callan Family Office, LLC168,099$4.8M0.1%−12,710
Susquehanna International Group, Llp152,266$4.4M0.0%+121,747
Sovran Advisors, LLC127,729$4.0M0.3%−1,798
Accordant Advisory Group Inc124,943$3.6M2.4%New
Inscription Capital, LLC118,042$3.4M0.3%−17,128
Rakuten Investment Management, Inc.118,000$3.4M0.0%−118,000
Washington Growth Strategies LLC115,852$3.3M1.8%No change
Founders Financial Securities LLC114,649$3.3M0.2%New
LPL Financial LLC113,673$3.3M0.0%+45,818
Osaic Holdings, Inc.88,294$2.5M0.0%−236,365

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

SEC filer profile

How iShares S&P GSCI Commodity-Indexed Trust is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARiShares S&P GSCI Commodity-Indexed Trust1
  • CIK0001332174
  • Employer ID (EIN)51-65733694
  • Filer statusLarge accelerated filer not an emerging growth company; not 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 address400 Howard Street, San Francisco, CA 941051
  • Phone415-670-20001
  • Shares outstanding28,950,000 as of Jul 31, 202612
  • Public float$549.4M as of Jun 30, 20254
  • AuditorPricewaterhouseCoopers LLP, Philadelphia, Pennsylvania PCAOB ID 238; it also attests to the company’s internal control over financial reporting4
  • On EDGAR sinceJul 22, 20051
  • Filings288 in all: 10-Q (60), 424B3 (39), 8-K (26), EFFECT (21), UPLOAD (21), 10-K (20), CORRESP (16), FWP (13)1
    All 28 form types

    POS AM (10), S-3 (9), SC 13G/A (9), S-1/A (8), S-3ASR (5), 424I (4), S-1 (4), S-3/A (4), SC 13G (3), 8-A12B (2), AW (2), IRANNOTICE (2), POS EX (2), POSASR (2), 10-K/A (1), 10-Q/A (1), 25 (1), CERTNYS (1), RW (1), SCHEDULE 13G (1)

  • Latest filingsAnnual report (10-K) Feb 27, 2026
    Quarterly report (10-Q) Aug 6, 2026
    Latest 8-K (8-K) Mar 31, 2026

Securities registered for trading

ClassSymbolExchange
SharesGSGNYSE Arca, Inc.

From the cover page of the 10-K filed Feb 27, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

The risks iShares S&P GSCI Commodity-Indexed Trust names in Item 1A of its 10-K filed Feb 27, 2026: 52 risks under these headings, as written.4

  • The value of the Shares depends on the value of Index Futures, which fluctuates based on the prices of commodity futures contracts reflected in the S&P GSCI‑ER. These prices may be volatile, thereby creating the potential for losses regardless of the length of time you intend to hold your Shares.
  • Historical performance of the Index and the S&P GSCI-ER is no guide to their future performance or to the performance of the Shares.
  • Commodity futures trading may be illiquid. In addition, suspensions or disruptions of market trading in the commodities markets and related futures markets may adversely affect the value of your Shares.
  • The absence of “backwardation” or the existence of “contango” in the prices of the commodities included in the S&P GSCI-ER may adversely affect the value of your Shares.
  • Regulatory developments with respect to the futures and over-the-counter (“OTC”) derivatives markets, and in particular, with respect to speculative trading in futures contracts and OTC derivatives involving commodities and commodity indices, could adversely affect the value of your Shares.
  • The Trust may be negatively impacted by the effects of the spread of illnesses or other public health emergencies on the global economy and the markets and service providers relevant to the performance of the Trust.
  • The Trust may be negatively impacted by the effects of geopolitical events on the global economy and markets for certain commodities, including energy, precious metals, agriculture and other sectors.
  • The trading of various Index Futures presents risks unrelated to the S&P GSCI-ER that could adversely affect the value of your Shares.
  • The S&P GSCI-ER may in the future include contracts that are not traded on regulated futures exchanges and that offer different or diminished protections to investors.
  • Changes in the composition and valuation of the S&P GSCI-ER may adversely affect your Shares.
  • A cessation of publication of the S&P GSCI-ER could materially and adversely affect the activities of the Trust.
  • Futures contracts (including the Index Futures) are not assets with intrinsic value.
The other 40 risks
  • The Trust’s trading activity in Index Futures could expose it to additional risks.
  • The market values of the investments by the Trust may be negatively impacted by changes in interest rates, and, as a result, the value or liquidity of the cash equivalents and marketable securities of the Trust could decline, which could adversely affect the performance of the Trust.
  • The liquidation of Index Futures could expose the Trust to the effects of temporary aberrations or distortions in the market, which could adversely affect the prices at which the Trust’s Index Futures positions are liquidated.
  • The Clearing FCM or an Exchange’s clearing house could fail.
  • A failure of the Clearing FCM to segregate assets or a default of the Clearing FCM, its customers or other market participants may cause losses for the Trust.
  • The Trust’s performance could be adversely affected if the Clearing FCM reduces its internal risk limits for the Trust.
  • Recourse to the Index Sponsor may be limited.
  • The returns on the Shares will not precisely correlate with the performance of the Index.
  • The Trust is a passive investment vehicle. The Trust is not actively managed and will be affected by a general decline in the price of commodities.
  • Fees and expenses payable by the Trust are charged regardless of profitability and may result in a depletion of its assets.
  • The Trust’s ability to operate is dependent on the Sponsor, the Trustee, the Advisor and certain other key service providers and other parties.
  • The Trust is exposed to various operational risks.
  • The Trust relies on the information and technology systems of the Trustee, the Sponsor, the Advisor, the Clearing FCM, the Trust Administrator, the Authorized Participants, the listing exchange, and the Trust’s other service providers and counterparties (referred to herein as the “Service Providers”), each of which could be directly or indirectly adversely affected by information systems interruptions, cybersecurity incidents or other disruptions, which in turn could have a material adverse effect on the Trust.
  • The price you receive upon the sale of your Shares may be less than their NAV.
  • The Trust is not obligated to pay periodic distributions or dividends to Shareholders.
  • The Trust could be liquidated at a time when the disposition of its interests will result in losses to investors in Shares.
  • The Sponsor has broad discretion to liquidate the Trust at any time.
  • Shareholders with large holdings may choose to dissolve the Trust and thereby adversely affect your investment in the Shares.
  • Affiliate shareholders with large holdings may choose to conduct a large sale of their Shares, which may have an adverse effect on the Shares.
  • The Shares may not provide anticipated benefits of diversification from other asset classes.
  • The liquidity of the Shares may be affected by the withdrawal from participation of Authorized Participants or by the suspension of issuance, transfers or redemptions of Shares by the Trustee.
  • 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.
  • You may be adversely affected by redemption orders that are subject to postponement, suspension or rejection under certain circumstances.
  • Competition from other commodities-related investments could limit the market for, and reduce the liquidity of, the Shares.
  • The price of the Shares could decrease if unanticipated operational or trading problems arise.
  • Exchange position limits and other rules may restrict the creation of Baskets and the operation of the Trust.
  • Shareholders do not have the rights normally associated with ownership of common shares; the Sponsor and the Trustee exercise substantial control over the Trust.
  • Shareholders do not have the protections normally associated with the ownership of shares in an investment company registered under the Investment Company Act.
  • Competing claims over ownership of relevant intellectual property rights could adversely affect the Trust or an investment in the Shares.
  • The value of the Shares will be adversely affected if the Trust is required to indemnify the Sponsor, the Advisor or the Trustee or their respective agents.
  • Regulatory changes or actions may affect the Shares.
  • NYSE Arca may halt trading in the Shares, which would adversely impact your ability to sell your Shares.
  • The Sponsor’s relationship with the Trustee and the Advisor and the proprietary and managed trading activities of the Sponsor and its affiliates could conflict with your interests as a Shareholder.
  • Proprietary trading and other activities by Goldman Sachs and its affiliates could conflict with your interests as a Shareholder.
  • Your tax liability could exceed cash distributions on your Shares.
  • The Internal Revenue Service (the “IRS”) could adjust or reallocate items of income, gain, deduction, loss and credit with respect to the Shares if the IRS does not accept the assumptions or conventions utilized by the Trust.
  • If the Trust were to fail to qualify as a partnership for U.S. federal income tax purposes, the Trust’s income and items of deduction would not pass through to the Shareholders, the Trust would be required to pay tax at corporate rates on any portion of the Trust’s net income that does not constitute tax‑exempt income and distributions by the Trust to the Trust’s Shareholders would be taxable dividends to the extent of the Trust’s earnings and profits.
  • If the IRS makes audit adjustments to the Trust’s income tax returns, it may collect any resulting taxes (including any applicable penalties and interest) directly from the Trust, in which case the cash available for the distribution to the Trust’s Shareholders might be substantially reduced.
  • Shareholders that are not U.S. persons could be subject to U.S. federal income tax, including a 10% withholding tax, on the disposition of their Shares.
  • Individual Shareholders that are not U.S. persons could be subject to U.S. federal estate tax in respect of their Shares.

Sources

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