# EDGAR Filing Document

**Accession Number:** 0002012980
**File Stem:** 0001049169-26-000298
**Filing Date:** 2026-2
**Character Count:** 12806
**Document Hash:** a0b074cd5838e8184c1d621498c930fa
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001049169-26-000298.hdr.sgml**: 20260224

**ACCESSION NUMBER**: 0001049169-26-000298

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260224

**DATE AS OF CHANGE**: 20260224

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Gemcorp Commodities Alternative Products Fund
- **CENTRAL INDEX KEY:** 0002012980

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23940
- **FILM NUMBER:** 26668191

**BUSINESS ADDRESS:**
- **STREET 1:** 12 EAST 49TH STREET
- **STREET 2:** SUITE 21-101
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017
- **BUSINESS PHONE:** 646-979-8494

**MAIL ADDRESS:**
- **STREET 1:** 12 EAST 49TH STREET
- **STREET 2:** SUITE 21-101
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Gemcorp Commodities Alternative Products Fund

- **b. Investment Company Act file number:** 811-23940

- **c. CIK number of Registrant:** 0002012980

- **d. LEI of Registrant:** 98450041997B5FAC0A48

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 12 East 49th St Suite 21-101

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10017

  - **Telephone number:** 16469798494

**Item A.2. Information about the Series.**

- **a. Name of Series:** Gemcorp Commodities Alternative Products Fund

- **c. LEI of Series:** 98450041997B5FAC0A48

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $37287172.74

**Total Liabilities:** $1153333.94

**Net Assets:** $36133838.80

**Cash Not Reported:** $4006853.04

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 95.83841400 | **1-Year:** 172.86099500 | **5-Year:** 587.14324200 | **10-Year:** 811.29996800 | **30-Year:** 0.00000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 7.48144000 | **1-Year:** 566.54911000 | **5-Year:** 372.56308900 | **10-Year:** 833.66115500 | **30-Year:** 942.61635800

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 0.20%                | 0.29%                | -0.05%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $25652.18                | $-66214.72                                 |
| Month 2  | $12126.45                | $-22405.28                                 |
| Month 3  | $-144476.15              | $50543.61                                  |

### Schedule of Portfolio Investments

| Name                     | Title                                           | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Avenir Issuer Iii Irlnd  | Avenir Issuer III Ireland DAC                   | CUSIP: YV8110467<br>LEI: 8945005RPC7GAZ20LN46 | Long             | DBT              | CORP              | IE        |   2326269 | PA      | $2264757.82   | 6.27%             | 2027-03-22      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Volcan Cia Minera Saa-cm | Volcan Cia Minera SAA                           | CUSIP: YV4363920<br>LEI: 549300XKJ91C4SZLG750 | Long             | DBT              | CORP              | PE        |   1000000 | PA      | $1032211.47   | 2.86%             | 2030-01-24      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Fed Republic Of Brazil   | Brazilian Government International Bond         | CUSIP: 105756BW9<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |   1000000 | PA      | $796855.08    | 2.21%             | 2045-01-27      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| N/A                      | Sonangol - Tranche B                            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   2500000 | PA      | $2437500.00   | 6.75%             | 2031-01-09      | Fixed         | 11.50%                | No            |                  3 | On Loan: No      |
| Treasury Bill            | United States Treasury Bill                     | CUSIP: 912797RA7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4500000 | PA      | $4499154.27   | 12.45%            | 2026-01-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Mosaic Co                | Mosaic Co.                                      | CUSIP: 61945CAG8<br>LEI: 2YD5STGSJNMUB7H76907 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1000040.86   | 2.77%             | 2027-11-15      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| N/A                      | Loinette - Gulf U1                              | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1884419 | PA      | $1884418.98   | 5.22%             | 2028-11-20      | Fixed         | 8.50%                 | No            |                  3 | On Loan: No      |
| Gran Tierra Energy Inc   | Gran Tierra Energy, Inc.                        | CUSIP: ZH3280174<br>LEI: 549300IH2S17MAIUCM32 | Long             | DBT              | CORP              | US        |    400000 | PA      | $278972.88    | 0.77%             | 2029-10-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Bhp Billiton Fin Usa Ltd | BHP Billiton Finance USA, Ltd.                  | CUSIP: 055451AY4<br>LEI: 5493003NUVITP3TMY274 | Long             | DBT              | CORP              | AU        |   1000000 | PA      | $1001007.84   | 2.77%             | 2026-02-27      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Samarco Mineracao Sa     | Samarco Mineracao SA                            | CUSIP: ZG6352899<br>LEI: 529900U8HKV15GJC4O60 | Long             | DBT              | CORP              | BR        |   1615997 | PA      | $1639954.69   | 4.54%             | 2031-06-30      | Variable      | 9.50%                 | No            |                  2 | On Loan: No      |
| Republic Of Kenya        | Republic of Kenya Government International Bond | CUSIP: AR2648533<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |   1000000 | PA      | $941664.31    | 2.61%             | 2048-02-28      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Cargill Inc              | Cargill, Inc.                                   | CUSIP: 141781CA0<br>LEI: QXZYQNMR4JZ5RIRN4T31 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1002611.61   | 2.77%             | 2026-06-24      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Fluor Corp               | Fluor Corp.                                     | CUSIP: 343412AF9<br>LEI: CQ7WZ4NOFWT7FAE6Q943 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $993306.31    | 2.75%             | 2028-09-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Archer-daniels-midland C | Archer-Daniels-Midland Co.                      | CUSIP: 039483BL5<br>LEI: 549300LO13MQ9HYSTR83 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $991227.63    | 2.74%             | 2026-08-11      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Volcan Cia Minera Saa-cm | Volcan Cia Minera SAA                           | CUSIP: 92863UAC0<br>LEI: 549300XKJ91C4SZLG750 | Long             | DBT              | CORP              | PE        |   1010000 | PA      | $1042533.58   | 2.89%             | 2030-01-24      | Fixed         | 8.75%                 | Yes           |                  2 | On Loan: No      |
| Newmont / Newcrest Fin   | Newmont Corp. / Newcrest Finance Pty, Ltd.      | CUSIP: 65163LAR0<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1047625.08   | 2.90%             | 2034-03-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| N/A                      | PACOIL_S4 TLA                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |    255417 | PA      | $255417.35    | 0.71%             | 2026-01-19      | Fixed         | 12.45%                | No            |                  3 | On Loan: No      |
| Avenir Issuer Iv Irlnd   | Avenir Issuer IV Ireland DAC                    | CUSIP: YT1952704<br>LEI: 894500E9CKDEAOMG0B46 | Long             | DBT              | CORP              | IE        |   1018384 | PA      | $984535.96    | 2.72%             | 2027-10-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| N/A                      | Gramtruk Investment Holdings, LP TL             | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   5000000 | PA      | $5000000.00   | 13.84%            | 2029-05-24      | Fixed         | 14.45%                | No            |                  3 | On Loan: No      |
| Republic Of Colombia     | Colombia Government International Bond          | CUSIP: 195325CX1<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |   1000000 | PA      | $999475.96    | 2.77%             | 2026-01-28      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Saturn Oil & Gas Inc     | Saturn Oil & Gas, Inc.                          | CUSIP: 80412LAA5<br>LEI: 549300G6BWJ7K6PIIY73 | Long             | DBT              | CORP              | CA        |    864000 | PA      | $855210.31    | 2.37%             | 2029-06-15      | Fixed         | 9.62%                 | Yes           |                  2 | On Loan: No      |
| N/A                      | Gramturk Investment Holdings, LP TL             | CUSIP: N/A<br>LEI: N/A                        | Short            | LON              | CORP              | US        |  -5000000 | PA      | $0.00         | 0.00%             | 2029-05-24      | Fixed         | 1.80%                 | No            |                  3 | On Loan: No      |
| Anglo American Capital   | Anglo American Capital PLC                      | CUSIP: 034863BE9<br>LEI: TINT358G1SSHR3L3PW36 | Long             | DBT              | CORP              | GB        |   1000000 | PA      | $1048463.53   | 2.90%             | 2034-04-05      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Exxon Mobil Corporation  | Exxon Mobil Corp.                               | CUSIP: 30231GAT9<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $998367.47    | 2.76%             | 2026-03-01      | Fixed         | 3.04%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-30

**Name of Applicant:** Gemcorp Commodities Alternative Products Fund

**Signature:** Ahmad Al-Sati

**Name of Signer:** Ahmad Al-Sati

**Title:** President