QGLAX — The Gold Bullion Strategy Fund
Data updated: 2026-08-14
QGLAX — The Gold Bullion Strategy Fund. Commodity · $115.62M AUM · 1.50% expense ratio. Holdings, fees, performance and SEC filings.
QGLAX Fund Overview
QGLAX — The Gold Bullion Strategy Fund is a US mutual fund managed by Advisors Preferred Trust, categorised as Commodity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Advisors Preferred Trust
- Category: Commodity
- Assets under management: $115.62M
- Ticker: QGLAX
- SEC CIK: 0001556505
- SEC series ID: S000040754
- Share class ID: C000143961
QGLAX Investment Objective and Strategy
The Gold Bullion Strategy Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Advisors Preferred Trust.
Investment objective
Quantified Gold Futures Tracking Portfolio (the ?Portfolio?) seeks returns that reflect the performance of the price of Gold bullion.
Principal investment strategy
The Portfolio?s Adviser delegates execution of the Portfolio?s investment strategy to the Sub-Adviser. Under normal circumstances, the Portfolio invests at least 80% of its net assets (plus any borrowing for investment purposes) in gold futures contracts. The Portfolio supplements its 80% policy by investing by investing in Gold bullion-related (1) exchange-traded funds (?ETFs?); (2) exchange-traded notes (?ETNs?); (3) over-the-counter forward contracts; (4) fixed income securities, including through mutual funds and ETFs that invest primarily in fixed income securities; and (5) pooled investment vehicles. Certain pooled investment vehicles are classified as commodity pools. The Portfolio invests in commodity pools that primarily invest in financial futures such as interest rate, equity and currency futures.
However, these pools may have lesser exposure to commodity-related and volatility-related futures. Gold bullion-related ETFs are those that invest primarily in (i) physical Gold bullion and/or (ii) over-the-counter or exchange-traded derivatives on Gold bullion such as forward contracts, futures contracts, and options contracts or swap contracts. Gold bullion related ETNs are those with interest and/or principal payments linked to the price of Gold bullion. Derivatives are primarily used as substitutes for Gold bullion because they are expected to produce returns that are substantially similar to those of Gold bullion. Derivatives used by the Portfolio are expected to produce a significant portion of the Portfolio?s returns. The Portfolio does not invest more than 25% of Portfolio assets in over-the-counter derivative contracts with any one counterparty.
ETFs and ETNs may employ leverage, which magnifies the changes in the underlying Gold index or Gold price upon which they are based. The Portfolio concentrates investments in the Gold bullion industry under normal circumstances investing over 25% of its assets in the Gold bullion industry. For purposes of measuring the 25% Gold bullion industry investments, the Portfolio includes the effects of leverage to Gold bullion (e.g. a security with 2 times leverage to Gold bullion price changes is counted at twice its value). The Portfolio also invests in investment grade fixed income corporate notes and bonds to generate interest income and to seek to preserve principal. The Portfolio defines investment grade fixed income securities as those that are rated, at the time purchased, in the top four categories by a rating agency such as Moody?s Investors Service, Inc.
(?Moody?s?) or S&P Ratings Group (?S&P?), or, if unrated, determined by the Sub-Adviser to be of comparable quality. However, the fixed income securities are selected without restriction as to maturity, issuer country or capitalization. The Portfolio will invest up to 25% of its total assets in a wholly owned and controlled subsidiary (the ?Subsidiary?). The Subsidiary is expected to provide the Portfolio with exposure to Gold bullion and commodities within the limitations of the federal tax requirements of Subchapter M of the Internal Revenue Code of 1986, as amended (the ?Code?). The Subsidiary will invest primarily in Gold bullion-related: ETFs, ETNs, futures and forward contracts; as well as pooled investment vehicles. The Portfolio?s investments will be composed primarily of securities, even when viewing the Subsidiary on a consolidated basis.
The Subsidiary, when viewed from a consolidated basis, is subject to the same investment restrictions as the Portfolio. The Sub-Adviser primarily selects securities and derivatives to maintain the Portfolio?s primary allocation to investments that it believes will have returns that reflect the performance of the price of Gold bullion. The Sub-Adviser primarily disposes of securities or derivatives to replace them with investments that it believes have a higher expected return or will more closely track Gold bullion prices or both. However, placement of individual trades, with the exception of fixed income trades, is conducted by the Adviser in consultation with the Sub-Adviser. The Sub-Adviser selects derivative counterparties it believes to be creditworthy and will close out a derivative position if it believes the counterparty is no longer creditworthy.
The Sub-Adviser places substantially all fixed income trades. The Adviser and/or Sub-Adviser may engage in frequent trading to achieve the Portfolio?s investment objective, which may result in continued turnover in excess of 100%.
QGLAX Holdings
Top 10 holdings of The Gold Bullion Strategy Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Fidelity Colchester Street Trust | 65.93% |
| Hyperion Fund LLC | 9.59% |
| Ishares Trust | 6.97% |
| Galaxy Plus Fund LLC | 3.15% |
| First American Funds, Inc. | 2.60% |
| Stonecastle | 0.99% |
| Oceanfirst Bank Na | 0.86% |
| Customers Bank | 0.86% |
| Cnb Bank | 0.86% |
| Connexus Credit Union (Wisconsin) | 0.86% |
QGLAX Portfolio Allocation
Asset-class allocation of The Gold Bullion Strategy Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Cash & Equivalents | 75.6% |
| Other | 12.7% |
| Equity | 7.5% |
QGLAX Performance
Total returns for QGLAX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | -7.2% |
| 1 year | 19.4% |
| 3 years (annualised) | 25.1% |
| 5 years (annualised) | 14.6% |
QGLAX Risk Information
Risk metrics for QGLAX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 26.4%
QGLAX Costs and Fees
QGLAX costs about $150 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.50%
- Gross expense ratio: 1.50%
- Portfolio turnover: 68%
- Brokerage commissions: 0.05 bps of average net assets (SEC N-CEN)
QGLAX Cashflows
Over the 12 months to 2026-06, The Gold Bullion Strategy Fund had net inflows of $9.81M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | −$748.79K |
| 2026-05 | $1.95M |
| 2026-04 | −$32.40M |
| 2026-03 | $20.20M |
| 2026-02 | −$40.30M |
| 2026-01 | −$16.88M |
QGLAX Debt Constituents
No individual debt constituents are reported in The Gold Bullion Strategy Fund's latest SEC N-PORT filing.
QGLAX Prospectus and SEC Filings
Official The Gold Bullion Strategy Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-04-28
- Prospectus (485BPOS) — filed 2026-04-16
- Prospectus (485BPOS) — filed 2026-02-03
- Portfolio holdings (N-PORT) — filed 2026-08-14
- Portfolio holdings (N-PORT) — filed 2026-05-08
- Portfolio holdings (N-PORT) — filed 2026-02-11
- Annual census (N-CEN) — filed 2026-03-13
- Annual census (N-CEN) — filed 2025-03-12
Related Funds
Other Commodity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.