Amplify Commodity Trust filed its Form 10-Q for the quarterly period ended September 30, 2026, with the SEC on November 13, 2026, covering the Breakwave Dry Bulk Shipping ETF (NYSE Arca:BDRY) and the Breakwave Tanker Shipping ETF (NYSE Arca:BWET).

Key Highlights

  • BDRY net assets: $36,376,097 as of September 30, 2026, up from $29,999,941 at June 30, 2026, according to the filing.
  • BWET net assets: $190,208,338 as of September 30, 2026, compared to $15,120,270 at June 30, 2026, the filing reported.
  • BDRY shares outstanding and NAV per share: 2,475,040 shares outstanding with a net asset value per share of $14.70 and a market value per share of $14.55 at September 30, 2026.
  • BWET shares outstanding and NAV per share: 240,100 shares outstanding with a net asset value per share of $792.20 and a market value per share of $803.00 at September 30, 2026.
  • Combined net assets: $226,584,435 as of September 30, 2026, versus $45,120,211 at June 30, 2026, per the filing.
  • Shares outstanding as of November 1, 2026: 2,025,040 shares for BDRY and 190,100 shares for BWET, as disclosed on the cover page.
  • BDRY futures positions: Net unrealized depreciation of $483,440 on Baltic Exchange Capesize, Panamax, and Supramax futures contracts with a combined notional value of $36,136,435 at September 30, 2026.

Breakwave Dry Bulk and Tanker ETF Financial Position at September 30, 2026

According to the filing, the Breakwave Dry Bulk Shipping ETF reported total assets of $37,099,916 and total liabilities of $723,819 as of September 30, 2026, yielding net assets of $36,376,097. This compares to net assets of $29,999,941 at June 30, 2026. The fund held $10,277,609 in money market fund investments and $26,737,700 in segregated cash held by broker, with $4,972,970 of that cash pledged as required margin for open futures contracts. The fund carried unrealized depreciation on futures contracts of $481,260 as a liability on the September 30, 2026 balance sheet.

The Breakwave Tanker Shipping ETF reported a substantially larger net asset base of $190,208,338 at September 30, 2026, up from $15,120,270 at June 30, 2026, the filing stated. Total assets for BWET were $190,969,458, including $24,971,755 in money market funds, $130,257,415 in segregated cash held by broker, and unrealized appreciation on futures contracts of $35,366,769. Required margin collateral for open futures contracts totaled $24,136,247, per the filing.

For BDRY, the filing disclosed nine open futures positions across Baltic Exchange Capesize, Panamax, and Supramax shipping route indices, all expiring between October 31 and December 31, 2026. The Capesize contracts (145 contracts each for three expiry months) contributed the largest unrealized depreciation, while Panamax and Supramax contracts showed modest unrealized appreciation. The combined total paid-in capital for both funds was $(29,454,741) on a combined basis, with total distributable earnings of $256,039,176, as reported in the filing. Both funds held shares in the Invesco Government and Agency Portfolio - Institutional Class, which carried an annualized seven-day yield of 3.81% as of September 30, 2026.

What Was Disclosed

Amplify Commodity Trust reported unaudited financial statements for BDRY and BWET for the quarter ended September 30, 2026, covering net assets, investments, futures contract positions, and share counts for both shipping ETFs within the trust.