Filing Details

CUSIP No. 23130A102

 

(1)

Represents shares beneficially owned by Leuthold Core Investment Fund and Leuthold Global Fund (see Item 2(a)).

(2)

This percentage is calculated based on 4,750,000 shares of beneficial interest outstanding, as publicly reported by the issuer.

CUSIP No. 23130A102

 

(1)

This percentage is calculated based on 4,750,000 shares of beneficial interest outstanding, as publicly reported by the issuer.

CUSIP No. 23130A102

 

(1)

This percentage is calculated based on 4,750,000 shares of beneficial interest outstanding, as publicly reported by the issuer.

Item 1(a).

Name of Issuer:

Invesco CurrencyShares Japanese Yen Trust

Item 1(b).

Address of Issuer's Principal Executive Offices:

3500 Lacey Road, Suite 700, Downers Grove, IL  60515

Item 2(a).

Name of Person Filing:

The persons filing this Schedule 13G are (i) The Leuthold Group, LLC (d/b/a Leuthold Weeden Capital Management), an investment adviser registered under Section 203 of the Investment Advisers Act of 1940; (ii) Leuthold Funds, Inc., an investment company registered under the Investment Company Act of 1940, on behalf of its series, Leuthold Core Investment Fund; and (iii) Leuthold Funds, Inc., on behalf of its series, Leuthold Global Fund.  The Leuthold Group, LLC (d/b/a Leuthold Weeden Capital Management) is the investment adviser to Leuthold Core Investment Fund and to Leuthold Global Fund.  Attached as Exhibit 1 hereto, which is incorporated by reference herein, is an agreement between The Leuthold Group, LLC (d/b/a Leuthold Weeden Capital Management), and Leuthold Funds, Inc., on behalf of its series, Leuthold Core Investment Fund and Leuthold Global Fund, that this Schedule 13G is filed on behalf of each of them.

Item 2(b).

Address of Principal Business Office or, if none, Residence:

150 South Fifth Street, Suite 1700, Minneapolis, MN  55402

Item 2(c).

Citizenship:

The Leuthold Group, LLC (d/b/a Leuthold Weeden Capital Management) is a Delaware limited liability company.

Leuthold Funds, Inc. is a Maryland corporation.

Item 2(d).

Title of Class of Securities:

Japanese Yen Shares

Item 2(e).

CUSIP Number:

23130A102

Item 3.

If this statement is filed pursuant to sections 240.13d-1(b), or 240.13d-2(b) or (c), check whether the person filing is a:

T

An investment registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).

T

An investment adviser in accordance with section 240.13d‑1(b)(1)(ii)(E).

Item 4.

Ownership:

(a)

Amount Beneficially Owned:  302,084

(b)

Percent of Class:  6.4%

(c)

Number of shares as to which such person has:

(i)

sole power to vote or to direct the vote:  41,100

(ii)

shared power to vote or to direct the vote:  260,984

(iii)

sole power to dispose or to direct the disposition of:  41,100

(iv)

shared power to dispose or to direct the disposition of:  260,984

(a)

Amount Beneficially Owned:  239,414

(b)

Percent of Class:  5.0%

(c)

Number of shares as to which such person has:

(i)

sole power to vote or to direct the vote:  0

(ii)

shared power to vote or to direct the vote:  239,414

(iii)

sole power to dispose or to direct the disposition of:  0

(iv)

shared power to dispose or to direct the disposition of:  239,414

(a)

Amount Beneficially Owned:  21,570

(b)

Percent of Class:  0.5%

(c)

Number of shares as to which such person has:

(i)

sole power to vote or to direct the vote:  0

(ii)

shared power to vote or to direct the vote:  21,570

(iii)

sole power to dispose or to direct the disposition of:  0

(iv)

shared power to dispose or to direct the disposition of:  21,570

Item 5.

Ownership of Five Percent or Less of a Class:

N/A

Item 6.

Ownership of More than Five Percent on Behalf of Another Person:

The securities reported in this statement are beneficially owned by managed accounts that are investment management clients of the Reporting Person.  The investment management contracts of these clients grant to the Reporting Person all investment and voting power over the securities reported in this statement.  Therefore, for purposes of Rule 13d-3 under the Securities Exchange Act of 1934, the Reporting Person is deemed to be the beneficial owner of the securities reported in this statement.  The clients of the Reporting Person have the right to receive or power to direct the receipt of dividends from, as well as the proceeds from the sale of, the securities reported in this statement.

Item 7.

Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person:

N/A

Item 8.

Identification and Classification of Members of the Group:

N/A

Item 9.

Notice of Dissolution of Group:

N/A

Item 10.

Certification:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

Exhibits.

Agreement to file Schedule 13G jointly (previously filed as Exhibit 1 to the Reporting Person's Schedule 13G filed January 20, 2017).

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date: April 2, 2019

The Leuthold Group, LLC

(d/b/a Leuthold Weeden Capital Management)

      Roger Peters

      Chief Compliance Officer

Leuthold Funds, Inc., on behalf of

Leuthold Core Investment Fund

and Leuthold Global Fund

      Roger Peters

      Vice President and Chief Compliance Officer