United States Commodity Index Funds Trust 10-Q for FY2022 Q2

United States Commodity Index Funds Trust (USCI)

10-Q 2022-08-05 For: 2022-06-30

Added on April 12, 2026

About this 10-Q

United States Commodity Index Funds Trust filed this 10-Q on August 5, 2022, covering the quarter ended June 30, 2022 (FY2022 Q2).

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Delaware		27-1537655
(State or other jurisdiction of		(I.R.S. Employer
incorporation or organization)		Identification No.)

Title of each class:	Trading Symbol(s)	Name of each exchange on which registered:
Shares of United States Commodity Index Fund	USCI	NYSE Arca, Inc.
Shares of United States Copper Index Fund	CPER	NYSE Arca, Inc.

Large Accelerated Filer	☐	Accelerated Filer	☒
Non-Accelerated Filer	☐	Smaller Reporting Company	☐
Emerging Growth Company	☐


		Number of Outstanding Shares as of July 22, 2022
United States Commodity Index Fund		5,600,000
United States Copper Index Fund		7,000,000
Total		12,600,000


Part I. FINANCIAL INFORMATION	Page

Item 1. Condensed Financial Statements.	1

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.	32

Item 3. Quantitative and Qualitative Disclosures About Market Risk.	72

Item 4. Controls and Procedures.	73

Part II. OTHER INFORMATION

Item 1. Legal Proceedings.	74

Item 1A. Risk Factors.	76

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.	77

Item 3. Defaults Upon Senior Securities.	78

Item 4. Mine Safety Disclosures.	78

Item 5. Other Information.	78

Item 6. Exhibits.	79


Documents		Page

Condensed Statements of Financial Condition at June 30, 2022 (Unaudited) and December 31, 2021		2-4

Condensed Schedule of Investments (Unaudited) at June 30, 2022		5-7

Condensed Statements of Operations (Unaudited) for the three and six months ended June 30, 2022 and 2021		8-10

Condensed Statements of Changes in Capital (Unaudited) for the three and six months ended June 30, 2022 and 2021		11-13

Condensed Statements of Cash Flows (Unaudited) for the six months ended June 30, 2022 and 2021		14-16

Notes to Condensed Financial Statements (Unaudited) for the period ended June 30, 2022		17-31


	June 30, 2022		December 31, 2021
Assets
Cash and cash equivalents (at cost $324,364,763 and $217,583,826, respectively) (Notes 2 and 6)	$	324,364,763	$	217,583,826
Equity in trading accounts:
Cash and cash equivalents (at cost $37,354,551 and $12,431,812, respectively)		37,354,551		12,431,812
Unrealized gain (loss) on open commodity futures contracts		(18,530,321)		4,845,874
Dividends receivable		265,224		4,622
Interest receivable		946		44
Prepaid license fees		6,375		—
Prepaid insurance^*		38,753		7,274
Prepaid registration fees		—		6,616

Total Assets	$	343,500,291	$	234,880,068

Liabilities and Capital
Management fees payable (Note 4)	$	249,637	$	157,823
Professional fees payable		53,506		193,304
Brokerage commissions payable		3,955		3,955
Directors’ fees payable^*		5,804		4,481

Total Liabilities		312,902		359,563

Commitments and Contingencies (Notes 4, 5 & 6)

Capital
Sponsor		—		—
Shareholders		343,187,389		234,520,505
Total Capital		343,187,389		234,520,505

Total Liabilities and Capital	$	343,500,291	$	234,880,068

Shares outstanding		6,250,000		5,400,000
Net asset value per share	$	54.91	$	43.43
Market value per share	$	54.81	$	43.47


				Fair
				Value/Unrealized
				Gain (Loss) on
				Open
			Number of	Commodity		% of Partners’
	Notional Amount		Contracts	Contracts		Capital
Open Commodity Futures Contracts - Long
United States Contracts
CME Lean Hogs LH August 2022 contracts, expiring August 2022	$	25,191,400	608	$	(360,680)	(0.11)
NYMEX RBOB Gasoline Futures RB September 2022 contracts, expiring August 2022		20,886,254	168		3,117,552	0.91
CBOT Soybean Oil Futures BO September 2022 contracts, expiring September 2022		24,838,221	617		(523,485)	(0.15)
CBOT Corn Futures C September 2022 contracts, expiring September 2022		27,701,413	759		(3,840,350)	(1.12)
CBOT Soybean Meal Futures SM September 2022 contracts, expiring September 2022		26,378,149	609		(1,037,659)	(0.30)
NYMEX WTI Crude Oil Futures CL October 2022 contracts, expiring September 2022		25,021,637	242		(756,297)	(0.22)
NYMEX Platinum Futures PL October 2022 contracts, expiring October 2022		26,326,635	554		(1,526,826)	(0.45)
CBOT Soybean Futures S November 2022 contracts, expiring November 2022		24,860,562	341		(1,663)	0.00^†
NYMEX NY Harbour ULSD Futures HO December 2022 contracts, expiring November 2022		25,212,324	163		(915,185)	(0.27)
ICE Cotton Futures CT December 2022 contracts, expiring December 2022		30,607,795	517		(5,057,655)	(1.47)
United Kingdom Contracts
ICE Low Sulphur Gasoil Futures QS August 2022 contracts, expiring August 2022		23,642,025	212		186,775	0.06
ICE Brent Crude Futures CO October 2022 contracts, expiring August 2022		25,038,906	231		(647,616)	(0.19)
Foreign Contracts
LME Tin Futures LT July 2022 contracts, expiring July 2022^*		27,148,775	158		(6,064,465)	(1.77)
LME Tin Futures LT August 2022 contracts, expiring August 2022^*		25,231,300	187		(342,535)	(0.10)
LME Zinc Futures LX August 2022 contracts, expiring August 2022^*		24,738,289	299		(1,036,932)	(0.30)
Open Commodity Futures Contracts - Short^**
Foreign Contracts
LME Tin Futures LT July 2022 contracts, expiring July 2022^*		(21,361,010)	158		276,700	0.08
Total Open Futures Contracts^*	$	361,462,675	5,823	$	(18,530,321)	(5.40)


	Shares/Principal				% of Partners’
	Amount		Market Value		Capital
Cash Equivalents
United States Treasury Obligations
U.S. Treasury Bills:
0.73%, 7/07/2022	$	10,000,000	$	9,998,800	2.91
0.89%, 8/04/2022		10,000,000		9,991,736	2.91
1.03%, 8/18/2022		10,000,000		9,986,400	2.91
1.12%, 9/01/2022		10,000,000		9,980,969	2.91
1.68%, 9/15/2022		10,000,000		9,964,955	2.91
1.74%, 9/29/2022		10,000,000		9,957,000	2.90
Total United States Treasury Obligations				59,879,860	17.45

United States Money Market Funds
Dreyfus Institutional Preferred Government Money Market Fund - Institutional Shares, 1.41%^#		127,750,000		127,750,000	37.23
Morgan Stanley Institutional Liquidity Funds - Government Portfolio - Institutional Shares, 1.38%^#		136,600,000		136,600,000	39.80
Total United States Money Market Funds				264,350,000	77.03
Total Cash Equivalents			$	324,229,860	94.48


	Three months ended		Three months ended		Six months ended		Six months ended
	June 30, 2022		June 30, 2021		June 30, 2022		June 30, 2021
Income
Gain (loss) on trading of commodity futures contracts:
Realized gain (loss) on closed commodity futures contracts	$	29,659,587	$	22,084,786	$	86,468,557	$	34,875,006
Change in unrealized gain (loss) on open commodity futures contracts		(32,442,047)		3,108,892		(23,376,195)		3,122,028
Dividend income		500,040		12,385		540,328		18,775
Interest income^*		57,306		792		57,470		2,090
ETF transaction fees		2,800		3,500		8,050		9,100
Total Income (Loss)	$	(2,222,314)	$	25,210,355	$	63,698,210	$	38,026,999

Expenses
Management fees (Note 4)	$	729,513	$	401,183	$	1,295,329	$	709,681
Professional fees		149,121		74,683		198,320		119,557
Brokerage commissions		48,981		30,288		100,817		67,660
Directors’ fees and insurance		19,100		11,546		32,551		19,548
Registration fees		—		9,871		6,617		13,017
Total Expenses	$	946,715	$	527,571	$	1,633,634	$	929,463
Net Income (Loss)	$	(3,169,029)	$	24,682,784	$	62,064,576	$	37,097,536
Net Income (Loss) per share	$	(0.28)	$	4.90	$	11.48	$	7.88
Net Income (Loss) per weighted average share	$	(0.51)	$	4.80	$	10.38	$	7.71
Weighted average shares outstanding		6,245,055		5,141,111		5,978,453		4,809,116


	Shareholders*
	Three months ended		Three months ended		Six months ended		Six months ended
	June 30, 2022		June 30, 2021		June 30, 2022		June 30, 2021
Balances at beginning of period	$	350,459,683	$	174,240,012	$	234,520,505	$	110,783,068
Addition of 300,000, 900,000, 1,550,000 and 2,850,000 shares, respectively		18,273,858		35,751,152		84,699,697		103,011,772
Redemption of (400,000), (–), (700,000) and (450,000) shares, respectively		(22,377,123)		—		(38,097,389)		(16,218,428)
Net income (loss)		(3,169,029)		24,682,784		62,064,576		37,097,536

Balances at end of period	$	343,187,389	$	234,673,948	$	343,187,389	$	234,673,948


	Shareholders^*
	Three months ended		Three months ended		Six months ended		Six months ended
	June 30, 2022		June 30, 2021		June 30, 2022		June 30, 2021
Balances at beginning of period	$	275,984,010	$	189,702,452	$	228,783,408	$	65,163,704
Addition of 450,000, 5,700,000, 2,250,000 and 11,200,000 shares, respectively		12,452,960		159,274,255		63,654,290		292,414,184
Redemption of (2,800,000), (1,750,000), (3,450,000) and (2,550,000) shares, respectively		(72,111,376)		(48,008,967)		(89,613,224)		(67,646,350)
Net income (loss)		(54,875,598)		5,400,337		(41,374,478)		16,436,539

Balances at end of period	$	161,449,996	$	306,368,077	$	161,449,996	$	306,368,077


At June 30, 2022	Total		Level I		Level II		Level III
Short-Term Investments	$	324,229,860	$	324,229,860	$	—	$	—
Exchange-Traded Futures Contracts
United States Contracts		(10,902,248)		(10,902,248)		—		—
Foreign Contracts		(7,628,073)		(7,628,073)		—		—


At December 31, 2021	Total		Level I		Level II		Level III
Short-Term Investments	$	217,576,877	$	217,576,877	$	—	$	—
Exchange-Traded Futures Contracts
United States Contracts		930,577		930,577		—		—
Foreign Contracts		3,915,297		3,915,297		—		—


	Condensed
	Statements of
	Financial
	Condition	Fair Value at		Fair Value at
Derivatives not Accounted for as Hedging Instruments	Location	June 30, 2022		December 31, 2021
Futures - Commodity Contracts	Assets	$	(18,530,321)	$	4,845,874


	Six months ended		Six months ended
	June 30, 2022		June 30, 2021
Cash Flows from Operating Activities:
Net income (loss)	$	62,064,576	$	37,097,536
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Change in unrealized (gain) loss on open commodity futures contracts		23,376,195		(3,122,028)
(Increase) decrease in dividends receivable		(260,602)		(1,696)
(Increase) decrease in interest receivable		(902)		(3)
(Increase) decrease in prepaid license fees		(6,375)		—
(Increase) decrease in prepaid insurance^*		(31,479)		(18,585)
(Increase) decrease in prepaid registration fees		6,616		(26,575)
(Increase) decrease in ETF transaction fees receivable		—		(350)
Increase (decrease) in Management fees payable		91,814		68,412
Increase (decrease) in professional fees payable		(139,798)		(167,315)
Increase (decrease) in directors’ fees payable^*		1,323		1,712
Net cash provided by (used in) operating activities		85,101,368		33,831,108

Cash Flows from Financing Activities:
Addition of shares		84,699,697		99,036,665
Redemption of shares		(38,097,389)		(16,218,428)
Net cash provided by (used in) financing activities		46,602,308		82,818,237

Net Increase (Decrease) in Cash and Cash Equivalents		131,703,676		116,649,345

Total Cash, Cash Equivalents and Equity in Trading Accounts, beginning of period		230,015,638		103,873,008
Total Cash, Cash Equivalents and Equity in Trading Accounts, end of period	$	361,719,314	$	220,522,353

Components of Cash and Cash Equivalents:
Cash and cash equivalents	$	324,364,763	$	208,586,537
Equity in Trading Accounts:
Cash and cash equivalents		37,354,551		11,935,816
Total Cash, Cash Equivalents and Equity in Trading Accounts	$	361,719,314	$	220,522,353


	Six months ended		Six months ended
	June 30, 2022		June 30, 2021
Cash Flows from Operating Activities:
Net income (loss)	$	(41,374,478)	$	16,436,539
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Change in unrealized (gain) loss on open commodity futures contracts		40,519,236		5,723,355
(Increase) decrease in receivable from Sponsor		—		58,202
(Increase) decrease in dividends receivable		(124,445)		(4,722)
(Increase) decrease in interest receivable		65		(3)
(Increase) decrease in prepaid professional fees		(19,263)		—
(Increase) decrease in prepaid license fees		(6,375)		—
(Increase) decrease in prepaid insurance^*		(35,111)		(24,037)
(Increase) decrease in prepaid registration fees		24,092		(95,590)
(Increase) decrease in ETF transaction fees receivable		—		(350)
Increase (decrease) in payable due to Broker		—		(1,428,240)
Increase (decrease) in Management fees payable		(24,906)		145,501
Increase (decrease) in professional fees payable		(201,307)		37,912
Increase (decrease) in directors’ fees payable^*		73		1,678
Net cash provided by (used in) operating activities		(1,242,419)		20,850,245

Cash Flows from Financing Activities:
Addition of shares		63,654,290		292,414,184
Redemption of shares		(89,613,224)		(62,386,814)
Net cash provided by (used in) financing activities		(25,958,934)		230,027,370

Net Increase (Decrease) in Cash and Cash Equivalents		(27,201,353)		250,877,615

Total Cash, Cash Equivalents and Equity in Trading Accounts, beginning of period		221,835,541		62,333,565
Total Cash, Cash Equivalents and Equity in Trading Accounts, end of period	$	194,634,188	$	313,211,180

Components of Cash and Cash Equivalents:
Cash and cash equivalents	$	153,752,542	$	288,730,579
Equity in Trading Accounts:
Cash and cash equivalents		40,881,646		24,480,601
Total Cash, Cash Equivalents and Equity in Trading Accounts	$	194,634,188	$	313,211,180


	Six months ended		Six months ended
	June 30, 2022		June 30, 2021
Cash Flows from Operating Activities:
Net income (loss)	$	20,690,098	$	53,534,075
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Change in unrealized (gain) loss on open commodity futures contracts		63,895,431		2,601,327
(Increase) decrease in receivable from sponsor		—		58,202
(Increase) decrease in dividends receivable		(385,047)		(6,418)
(Increase) decrease in interest receivable		(837)		(6)
(Increase) decrease in prepaid professional fees		(19,263)		—
(Increase) decrease in prepaid license fees		(12,750)		—
(Increase) decrease in prepaid insurance^*		(66,590)		(42,622)
(Increase) decrease in prepaid registration fees		30,708		(122,165)
(Increase) decrease in ETF transaction fees receivable		—		(700)
Increase (decrease) in payable due to Broker		—		(1,428,240)
Increase (decrease) in Management fees payable		66,908		213,913
Increase (decrease) in professional fees payable		(341,105)		(129,403)
Increase (decrease) in directors’ fees payable^*		1,396		3,390
Net cash provided by (used in) operating activities		83,858,949		54,681,353

Cash Flows from Financing Activities:
Addition of shares		148,353,987		391,450,849
Redemption of shares		(127,710,613)		(78,605,242)
Net cash provided by (used in) financing activities		20,643,374		312,845,607

Net Increase (Decrease) in Cash and Cash Equivalents		104,502,323		367,526,960

Total Cash, Cash Equivalents and Equity in Trading Accounts, beginning of period		451,851,179		166,206,573
Total Cash, Cash Equivalents and Equity in Trading Accounts, end of period	$	556,353,502	$	533,733,533

Components of Cash and Cash Equivalents:
Cash and cash equivalents	$	478,117,305	$	497,317,116
Equity in Trading Accounts:
Cash and cash equivalents		78,236,197		36,416,417
Total Cash, Cash Equivalents and Equity in Trading Accounts	$	556,353,502	$	533,733,533


	Six months ended			Six months ended
	June 30, 2022			June 30, 2021
Total commissions accrued to brokers	$	100,817		$	67,660
Total commissions as annualized percentage of average total net assets		0.06	%		0.08	%
Commissions accrued as a result of rebalancing	$	96,136		$	60,647
Percentage of commissions accrued as a result of rebalancing		95.36	%		89.63	%
Commissions accrued as a result of creation and redemption activity	$	4,681		$	7,013
Percentage of commissions accrued as a result of creation and redemption activity		4.64	%		10.37	%


SummerHaven Dynamic Commodity Index Total Return^SM (“SDCI”)(1)	27.58	%
S&P GSCI Commodity Index (GSCI®) Total Return(2)	35.80	%
Bloomberg Commodity Index Total Return(2)	18.44	%
Deutsche Bank Liquid Commodity Index-Optimum Yield Total Return^TM(2)	29.23	%


SummerHaven Copper Index Total Return^SM(“SCI”)(1)	(17.10)	%
Bloomberg Copper Subindex Total Return(2)	(17.13)	%


Commodity	Designated Contract	Exchange	Units	Quote
Aluminum	High Grade Primary Aluminum	LME	25 metric tons	USD/metric ton
Cocoa	Cocoa	ICE-US	10 metric tons	USD/metric ton
Coffee	Coffee “C”	ICE-US	37,500 lbs	U.S. cents/pound
Copper	Copper	COMEX	25,000 lbs	U.S. cents/pound
Corn	Corn	CBOT	5,000 bushels	U.S. cents/bushel
Cotton	Cotton	ICE-US	50,000 lbs	U.S. cents/pound
Crude Oil (WTI)	Light, Sweet Crude Oil	NYMEX	1,000 barrels	USD/barrel
Crude Oil (Brent)	Crude Oil	ICE-UK	1,000 barrels	USD/barrel
Gas Oil	Gas Oil	ICE-UK	100 metric tons	USD/metric ton
Gold	Gold	COMEX	100 troy oz.	USD/troy oz.
Heating Oil	Heating Oil	NYMEX	42,000 gallons	U.S. cents/gallon
Lead	Lead	LME	25 metric tons	USD/metric ton
Lean Hogs	Lean Hogs	CME	40,000 lbs.	U.S. cents/pound
Live Cattle	Live Cattle	CME	40,000 lbs.	U.S. cents/pound
Feeder Cattle	Feeder Cattle	CME	50,000 lbs.	U.S. cents/pound
Natural Gas	Henry Hub Natural Gas	NYMEX	10,000 mmbtu	USD/mmbtu
Nickel	Primary Nickel	LME	6 metric tons	USD/metric ton
Platinum	Platinum	NYMEX	50 troy oz.	USD/troy oz.
Silver	Silver	COMEX	5,000 troy oz.	U.S. cents/troy oz.
Soybeans	Soybeans	CBOT	5,000 bushels	U.S. cents/bushel
Soybean Meal	Soybean Meal	CBOT	100 tons	USD/ton
Soybean Oil	Soybean Oil	CBOT	60,000 lbs.	U.S. cents/pound
Sugar	World Sugar No. 11	ICE-US	112,000 lbs.	U.S. cents/pound
Tin	Tin	LME	5 metric tons	USD/metric ton
Unleaded Gasoline	Reformulated Blendstock for Oxygen Blending	NYMEX	42,000 gallons	U.S. cents/gallon
Wheat	Wheat	CBOT	5,000 bushels	U.S. cents/bushel
Zinc	Special High Grade Zinc	LME	25 metric tons	USD/metric ton


Commodity	Commodity			Max.
Symbol	Name	Sector	Allowed Contracts	tenor
CO	Brent Crude	Petroleum	All 12 Calendar Months	9
CL	Crude Oil	Petroleum	All 12 Calendar Months	9
QS	Gas Oil	Petroleum	All 12 Calendar Months	4
HO	Heating Oil	Petroleum	All 12 Calendar Months	4
XB	RBOB	Petroleum	All 12 Calendar Months	4
BO	Soybean Oil	Grains	Jan, Mar, May, Jul, Aug, Sep, Oct, Dec	1
C	Corn	Grains	Mar, May, Jul, Sep, Dec	4
S	Soybeans	Grains	Jan, Mar, May, Jul, Aug, Nov	4
SM	Soymeal	Grains	Jan, Mar, May, Jul, Aug, Sep, Oct, Dec	3
W	Wheat (Soft Red Winter)	Grains	Mar, May, Jul, Sep, Dec	4
LA	Aluminum	Industrial Metals	All 12 Calendar months	4
HG	Copper	Industrial Metals	Mar, May, Jul, Sep, Dec	1
LL	Lead	Industrial Metals	All 12 Calendar Months	4
LN	Nickel	Industrial Metals	All 12 Calendar Months	4
LT	Tin	Industrial Metals	All 12 Calendar Months	1
LX	Zinc	Industrial Metals	All 12 Calendar Months	4
GC	Gold	Precious Metals	Feb, Apr, Jun, Aug, Oct, Dec	1
PL	Platinum	Precious Metals	Jan, Apr, Jul, Oct	1
SI	Silver	Precious Metals	Mar, May, Jul, Sep, Dec	1
NG	Natural Gas	Non-Primary Sector	All 12 Calendar Months	6
FC	Feeder Cattle	Non-Primary Sector	Jan, Mar, Apr, May, Aug, Sep, Oct, Nov	1
LH	Lean Hogs	Non-Primary Sector	Feb, Apr, Jun, Jul, Aug, Oct, Dec	1
LC	Live Cattle	Non-Primary Sector	Feb, Apr, Jun, Aug, Oct, Dec	3
CC	Cocoa	Non-Primary Sector	Mar, May, Jul, Sep, Dec	1
KC	Coffee	Non-Primary Sector	Mar, May, Jul, Sep, Dec	1
CT	Cotton	Non-Primary Sector	Mar, May, Jul, Dec	1
SB	Sugar	Non-Primary Sector	Mar, May, Jul, Oct	3


Year	Ending Level*	Annual Return
2012	1,726.55	1.37	%
2013	1,678.73	(2.77)	%
2014	1,475.68	(12.10)	%
2015	1,265.58	(14.24)	%
2016	1,262.46	(0.25)	%
2017	1,364.38	8.07	%
2018	1,221.18	(10.50)	%
2019	1,219.05	(0.17)	%
2020	1,089.40	(10.64)	%
2021	1,468.49	34.80	%
2022 (YTD)	1,872.57	27.52	%


	Hypothetical and Historical Results for the period
	from December 31, 1997 through June 30, 2022
	BCOM TR		S&P GSCI		DB LCI OY		SDCI TR
			TR		TR		Actual
Total return	62.28	%	23.17	%	374.04	%	732.18	%
Average annualized return (total)	4.68	%	6.64	%	10.58	%	12.16	%
Annualized volatility	16.19	%	23.43	%	19.03	%	15.55	%
Annualized Sharpe ratio	0.17		0.20		0.45		0.65


	Commodity		Max.
Commodity Name	Symbol	Allowed Contracts	Tenor
Copper	HG	All 12 calendar months	12


		Contract
Copper Futures Contract	Expiration Date	Price
Nearest-to-maturity	December-10	374.70
Next nearest-to-maturity	March-11	365.20


Eligible Copper Futures Contracts		Price
December-10		374.70


Copper Futures Contract	Expiration Date	Contract Price
Nearest-to-maturity	December-10	374.00

Next nearest-to-maturity	March-11	375.70


	Hypothetical and Historical Results for the period
	from December 31, 1997 through June 30, 2022
	BCOM		Spot Copper		SCI TR
	HG TR		(less storage)		Actual
Total return	398.55	%	139.66	%	653.05	%
Average annualized return (total)	11.62	%	8.20	%	13.79	%
Annualized volatility	25.73	%	24.91	%	25.23	%
Annualized Sharpe ratio	0.38		0.26		0.47


	Total Number of Shares	Average Price Per
Period	Redeemed	Share
4/1/22 to 4/30/22	200,000	$	55.65
5/1/22 to 5/31/22	—	$	—
6/1/22 to 6/30/22	200,000	$	56.23
Total	400,000

Exhibit Number		Description of Document
31.1(1)		Certification by Principal Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2(1)		Certification by Principal Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1(1)		Certification by Principal Executive Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
32.2(1)		Certification by Principal Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
101.INS		XBRL Instance Document.
101.SCH		XBRL Taxonomy Extension Schema.
101.CAL		XBRL Taxonomy Extension Calculation Linkbase.
101.DEF		XBRL Taxonomy Extension Definition Linkbase.
101.LAB		XBRL Taxonomy Extension Label Linkbase.
101.PRE		XBRL Taxonomy Extension Presentation Linkbase.
104		Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)

By:	/s/ John P. Love
	John P. Love
	President and Chief Executive Officer
	(Principal executive officer)

By:	/s/ Stuart P. Crumbaugh
	Stuart P. Crumbaugh
	Chief Financial Officer
	(Principal financial and accounting officer)