Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and
Use of Proceeds.
a) On February
17, 2026, Seed Capital Investor purchased 1,000,000 Seed Shares in a transaction exempt from registration under Section 4(a)(2) of the
Securities Act of 1933 (the “Securities Act”). Total proceeds to the Trust from the sale of the Seed Shares was $25,000,000
in SUI. The Seed Capital Investor acted as a statutory underwriter in connection with the Seed Shares.
b) Not applicable.
c) The Trust does not purchase Shares
directly from its Shareholders. The Trust redeemed 0 Baskets during the three-month period ended March 31, 2026 in connection with Baskets
held by Authorized Participants.
Item 3. Defaults Upon Senior Securities.
None.
Item 4. Mine Safety Disclosures.
Not applicable.
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