UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
(Mark One)
   
þ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 2014,March 31, 2015,
OR
   
o ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from __________ to
 
Commission File Numbers: 001-33908, 001-33909
GREENHAVEN CONTINUOUS COMMODITY INDEX FUND
(Registrant)
(Exact name of Registrant as specified in its charter)
GREENHAVEN CONTINUOUS COMMODITY INDEX MASTER FUND
(Rule 140 Co-Registrant)
(Exact name of Registrant as specified in its charter)
   
Delaware 
26-0151234
26-0151301
(State or Other Jurisdiction of Incorporation or
Organization)		 (I.R.S. Employer Identification No.)
   
c/o GreenHaven Commodity Services LLC  
3340 Peachtree Rd, Suite 1910  
Atlanta, Georgia 30326
(Address of Principal Executive Offices) (Zip Code)
 
Registrant’s telephone number, including area code: (404)-239-7942
(Former Name, Former Address and Former Fiscal Year, if Changed Since Last Report)

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes þ☒ No o☐

Indicate by check mark whether the registrant has submitted electronically and posted to its web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to post such files).
Yes þ☒ No o☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definition of “accelerated filer,” “large accelerated filer,” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):
       
Large Accelerated Filer o☐
Accelerated Filer ☒
 
AcceleratedNon-Accelerated Filer þ☐
 
Non-Accelerated Filer o
Smaller reporting company o☐
   (Do not check if a smaller reporting company) 
 
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes o☐ No þ☒

Indicate the number of outstanding Limited Shares as of September 30, 2014: 12,950,000March 31, 2015: 11,500,000 Limited Shares.
 
 

 

 
GREENHAVEN CONTINUOUS COMMODITY INDEX FUND
GREENHAVEN CONTINUOUS COMMODITY INDEX MASTER FUND
QUARTER ENDED SEPTEMBER 30, 2014
MARCH 31, 2015
    
PART 1. FINANCIAL INFORMATION 
    
 ITEM 1. FINANCIAL STATEMENTS 
    
 GreenhavenGreenHaven Continuous Commodity Index Fund Financial Statements  
 Consolidated Statements of Financial Condition at September 30, 2014March 31, 2015 (unaudited) and December 31, 20132014 3
 Unaudited Consolidated Schedule of Investments at September 30, 2014March 31, 2015 4
 Consolidated Schedule of Investments at December 31, 20132014 5
 Unaudited Consolidated Statements of Income and Expenses for the Three Months Ended September 30,March 31, 2015 and 2014 and 2013 and Nine Months Ended September 30, 2014 and 2013 6
 Unaudited Consolidated Statement of Changes in Shareholders’ Equity for the NineThree Months Ended September 30, 2014March 31, 2015 7
 Unaudited Consolidated Statements of Cash Flows for the NineThree Months Ended September 30,March 31, 2015 and 2014 and 2013 8
    
 GreenhavenGreenHaven Continuous Commodity Index Master Fund Financial Statements  
 Statements of Financial Condition at September 30, 2014March 31, 2015 (unaudited) and December 31, 20132014 9
 Unaudited Schedule of Investments at September 30, 2014March 31, 2015 10
 Schedule of Investments at December 31, 20132014 11
 Unaudited Consolidated Statements of Income and Expenses for the Three Months Ended September 30,March 31, 2015 and 2014 and 2013 and Nine Months Ended September 30, 2014 and 2013 12
 Unaudited Statement of Changes in Shareholders’ Equity for the NineThree Months Ended September 30, 2014March 31, 2015 13
 Unaudited Statements of Cash Flows for the NineThree Months Ended September 30,March 31, 2015 and 2014 and 2013 14
 
Notes to Consolidated Unaudited Consolidated Financial Statements 15
    
 ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 23
    
 ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 29
    
 ITEM 4. CONTROLS AND PROCEDURES 31
    
PART II. OTHER INFORMATION 33
    
 ITEM 1. Legal Proceedings 33
 ITEM 1A. Risk Factors 33
 ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 33
 ITEM 3. Defaults Upon Senior Securities 33
 ITEM 4. Reserved 33
 ITEM 5. Other Information 33
 ITEM 6. Exhibits 34
    
SIGNATURES 35
    
EXHIBIT INDEX 36
 EX-31.1 SECTION 302 CERTIFICATION OF CEO  
 EX-31.2 SECTION 302 CERTIFICATION OF CEO  
 EX-31.3 SECTION 302 CERTIFICATION OF CFO  
 EX-31.4 SECTION 302 CERTIFICATION OF CFO  
 EX-32.1 SECTION 906 CERTIFICATION OF CEO  
 EX-32.2 SECTION 906 CERTIFICATION OF CEO  
 EX-32.3 SECTION 906 CERTIFICATION OF CFO  
 EX-32.4 SECTION 906 CERTIFICATION OF CFO  
 
2

GreenHaven Continuous Commodity Index Fund
Consolidated Statements of Financial Condition
September 30, 2014March 31, 2015 (unaudited) and December 31, 20132014

      
 September 30,          
 2014 December 31,  March 31, 2015  December 31, 
 (unaudited)  2013  (unaudited)  2014 
Assets            
Equity in broker trading accounts:            
Short-term investments (cost $99,996,305 and $199,996,365 as of September 30, 2014 and December 31, 2013, respectively)
 $99,998,500  $199,998,800 
Short-term investments (cost $199,994,248 and $199,994,069 as of March 31, 2015 and December 31, 2014, respectively) $199,996,950  $199,995,250 
Cash held by broker  247,825,537   124,417,599   60,768,219   94,433,074 
Net unrealized depreciation on futures contracts  (26,493,168)  (4,055,188)  (16,701,398)  (27,249,076)
Total assets $321,330,869  $320,361,211  $244,063,771  $267,179,248 
                
Liabilities and shareholders’ equity                
Management fee payable to related party $232,843  $241,143   177,535   205,492 
Accrued brokerage fees and expenses payable  80,620   127,484   120,702   75,622 
Total liabilities  313,463   368,627  $298,237  $281,114 
                
Shareholders’ equity                
General Units:                
Paid in capital - 50 units issued  1,500   1,500   1,500   1,500 
Accumulated deficit  (261)  (215)  (440)  (360)
Total General Units  1,239   1,285   1,060   1,140 
Limited Units:                
Paid in capital - 12,950,000 and 12,450,000 redeemable shares issued and outstanding as of September 30, 2014 and December 31, 2013, respectively
  380,703,638   364,838,413 
Paid in capital - 11,500,000 and 11,700,000 redeemable shares issued and outstanding as of March 31, 2015 and December 31, 2014, respectively  345,924,852   350,523,308 
Accumulated deficit  (59,687,471)  (44,847,114)  (102,160,378)  (83,626,314)
                
Total Limited Units  321,016,167   319,991,299   243,764,474   266,896,994 
                
Total shareholders’ equity  321,017,406   319,992,584   243,765,534   266,898,134 
Total liabilities and shareholders’ equity $321,330,869  $320,361,211  $244,063,771  $267,179,248 
                
Net asset value per share                
                
General Units $24.78  $25.70  $21.20  $22.80 
                
Limited Units $24.79  $25.70  $21.20  $22.81 
 
See accompanying notes to unaudited consolidated financial statements
 
3

GreenHaven Continuous Commodity Index Fund
Unaudited Consolidated Schedule of Investments
September 30,
March 31, 2015
             
  Percentage  Fair  Face 
Description of Net Assets  Value  Value 
U.S. Treasury Obligations         
U.S. Treasury Bills, 0.02% due April 23, 2015  41.02% $99,999,400  $100,000,000 
U.S. Treasury Bills, 0.02% due June 11, 2015  20.51   49,998,750   50,000,000 
U.S. Treasury Bills, 0.02% due June 25, 2015  20.51   49,998,800   50,000,000 
Total U.S. Treasury Obligations (cost $199,994,248)  82.04% $199,996,950  $200,000,000 
             
  Percentage  Fair  Notional 
Description of Net Assets  Value  Value 
Unrealized Appreciation/(Depreciation) on Futures Contracts            
Cocoa (178 contracts, settlement date September 15, 2015)  (0.12)% $(294,420) $4,795,320 
Cocoa (177 contracts, settlement date July 16, 2015)  (0.11)  (279,580)  4,777,230 
Cocoa (177 contracts, settlement date May 13, 2015)  (0.13)  (314,520)  4,777,230 
Coffee (94 contracts, settlement date September 18, 2015)  (0.31)  (761,906)  4,905,037 
Coffee (94 contracts, settlement date July 21, 2015)  (0.50)  (1,207,163)  4,797,525 
Coffee (93 contracts, settlement date May 18, 2015)  (0.46)  (1,112,138)  4,634,888 
Copper (69 contracts, settlement date September 28, 2015)  0.12   283,913   4,730,812 
Copper (70 contracts, settlement date July 29, 2015)  (0.07)  (164,275)  4,799,375 
Copper (70 contracts, settlement date May 27, 2015)  (0.11)  (277,213)  4,795,000 
Corn (248 contracts, settlement date September 14, 2015)  (0.07)  (175,687)  4,860,800 
Corn (250 contracts, settlement date July 14, 2015)  (0.10)  (233,650)  4,803,125 
Corn (249 contracts, settlement date May 14, 2015)  (0.04)  (91,862)  4,684,312 
Cotton (226 contracts, settlement date July 09, 2015)  0.06   149,365   7,170,980 
Cotton (227 contracts, settlement date May 06, 2015)  0.00*  4,305   7,161,850 
Gold (60 contracts, settlement date August 27, 2015)  (0.09)  (225,450)  7,104,600 
Gold (61 contracts, settlement date June 26, 2015)  (0.04)  (88,880)  7,217,520 
Lean Hogs (99 contracts, settlement date October 14, 2015)  (0.02)  (61,430)  2,738,340 
Lean Hogs (99 contracts, settlement date August 14, 2015)  (0.12)  (284,240)  3,077,910 
Lean Hogs (99 contracts, settlement date July 15, 2015)  (0.17)  (420,610)  3,055,140 
Lean Hogs (98 contracts, settlement date June 12, 2015)  (0.18)  (447,660)  2,971,360 
Lean Hogs (99 contracts, settlement date April 15, 2015)  (0.28)  (682,310)  2,472,030 
Light, Sweet Crude Oil (56 contracts, settlement date August 20, 2015)  (0.09)  (231,110)  2,950,640 
Light, Sweet Crude Oil (56 contracts, settlement date July 21, 2015)  (0.09)  (221,710)  2,902,480 
Light, Sweet Crude Oil (57 contracts, settlement date June 22, 2015)  (0.02)  (60,110)  2,894,460 
Light, Sweet Crude Oil (57 contracts, settlement date May 19, 2015)  (0.12)  (283,710)  2,812,380 
Light, Sweet Crude Oil (57 contracts, settlement date April 21, 2015)  (0.19)  (467,480)  2,713,200 
Live Cattle (79 contracts, settlement date October 30, 2015)  0.07   180,670   4,777,920 
Live Cattle (79 contracts, settlement date August 31, 2015)  0.00*  5,990   4,724,200 
Live Cattle (79 contracts, settlement date June 30, 2015)  (0.03)  (75,940)  4,813,470 
Natural Gas (104 contracts, settlement date August 27, 2015)  (0.05)  (114,500)  2,897,440 
Natural Gas (105 contracts, settlement date July 29, 2015)  (0.05)  (127,120)  2,921,100 
Natural Gas (105 contracts, settlement date June 26, 2015)  (0.08)  (190,000)  2,888,550 
Natural Gas (105 contracts, settlement date May 27, 2015)  (0.12)  (283,460)  2,825,550 
Natural Gas (105 contracts, settlement date April 28, 2015)  (0.12)  (304,830)  2,772,000 
NY Harbor ULSD (39 contracts, settlement date August 31, 2015)  (0.08)  (185,350)  2,899,260 
NY Harbor ULSD (39 contracts, settlement date July 31, 2015)  (0.08)  (188,084)  2,864,371 
NY Harbor ULSD (39 contracts, settlement date June 30, 2015)  0.01   27,031   2,835,706 
NY Harbor ULSD (39 contracts, settlement date May 29, 2015)  (0.18)  (428,547)  2,811,463 
NY Harbor ULSD (40 contracts, settlement date April 30, 2015)  (0.16)  (382,246)  2,869,440 
Platinum (125 contracts, settlement date October 28, 2015)  (0.09)  (213,660)  7,155,000 
Platinum (125 contracts, settlement date July 29, 2015)  (0.13)  (329,120)  7,146,250 
Silver (57 contracts, settlement date September 28, 2015)  (0.04)  (88,585)  4,752,375 
Silver (58 contracts, settlement date July 29, 2015)  0.06   136,475   4,825,600 
Silver (57 contracts, settlement date May 27, 2015)  (0.01)  (36,995)  4,730,430 
Soybean (98 contracts, settlement date August 14, 2015)  (0.11)  (257,250)  4,788,525 
Soybean (98 contracts, settlement date July 14, 2015)  (0.09)  (230,363)  4,790,975 
Soybean (98 contracts, settlement date May 14, 2015)  (0.09)  (223,913)  4,768,925 
Soybean Oil (156 contracts, settlement date October 14, 2015)  (0.05)  (122,604)  2,874,456 
Soybean Oil (156 contracts, settlement date September 14, 2015)  (0.06)  (135,366)  2,879,136 
Soybean Oil (156 contracts, settlement date August 14, 2015)  (0.10)  (252,510)  2,873,520 
Soybean Oil (156 contracts, settlement date July 14, 2015)  (0.07)  (182,760)  2,866,032 
Soybean Oil (157 contracts, settlement date May 14, 2015)  (0.09)  (208,710)  2,862,738 
Sugar (348 contracts, settlement date September 30, 2015)  (0.38)  (918,187)  4,942,157 
Sugar (350 contracts, settlement date June 30, 2015)  (0.57)  (1,386,180)  4,727,520 
Sugar (350 contracts, settlement date April 30, 2015)  (0.62)  (1,522,741)  4,676,560 
Wheat (185 contracts, settlement date September 14, 2015)  (0.03)  (84,062)  4,833,125 
Wheat (185 contracts, settlement date July 14, 2015)  (0.15)  (360,350)  4,754,500 
Wheat (186 contracts, settlement date May 14, 2015)  (0.11)  (268,600)  4,759,275 
Net Unrealized Depreciation on Futures Contracts  (6.85)% $(16,701,398) $243,511,113 
* Denotes greater than 0.000% yet less than 0.005%
See accompanying notes to unaudited consolidated financial statements
GreenHaven Continuous Commodity Index Fund
Consolidated Schedule of Investments
December 31, 2014
             
  Percentage  Fair  Face 
Description of Net Assets  Value  Value 
U.S. Treasury Obligations         
U.S. Treasury Bills, 0.01% due January 22, 2015  37.47% $99,998,600  $100,000,000 
U.S. Treasury Bills, 0.03% due March 12, 2015  18.73   49,998,100   50,000,000 
U.S. Treasury Bills, 0.06% due March 26, 2015  18.73   49,998,550   50,000,000 
Total U.S. Treasury Obligations (cost $199,994,069)  74.93% $199,995,250  $200,000,000 
             
  Percentage  Fair  
Notional
 
Description of Net Assets  Value  Value 
Unrealized Appreciation/(Depreciation) on Futures Contracts         
Cocoa (181 contracts, settlement date July 16, 2015)  0.03% $83,950  $5,229,090 
Cocoa (181 contracts, settlement date May 13, 2015)  (0.13)  (334,480)  5,234,520 
Cocoa (181 contracts, settlement date March 16, 2015)  (0.12)  (316,920)  5,267,100 
Coffee (82 contracts, settlement date July 21, 2015)  (0.25)  (671,513)  5,285,925 
Coffee (82 contracts, settlement date May 18, 2015)  (0.27)  (719,438)  5,205,975 
Coffee (83 contracts, settlement date March 19, 2015)  (0.28)  (747,038)  5,185,425 
Copper (74 contracts, settlement date July 29, 2015)  (0.12)  (320,262)  5,227,175 
Copper (74 contracts, settlement date May 27, 2015)  (0.22)  (584,150)  5,223,475 
Copper (74 contracts, settlement date March 27, 2015)  (0.21)  (559,600)  5,227,175 
Corn (258 contracts, settlement date July 14, 2015)  0.04   101,863   5,321,250 
Corn (258 contracts, settlement date May 14, 2015)  0.09   250,975   5,234,175 
Corn (259 contracts, settlement date March 13, 2015)  0.09   242,600   5,141,150 
Cotton (171 contracts, settlement date July 09, 2015)  0.00*  5,610   5,301,000 
Cotton (171 contracts, settlement date May 06, 2015)  (0.12)  (316,150)  5,221,485 
Cotton (171 contracts, settlement date March 09, 2015)  (0.27)  (716,905)  5,153,085 
Gold (44 contracts, settlement date June 26, 2015)  0.03   88,470   5,215,760 
Gold (44 contracts, settlement date April 28, 2015)  (0.17)  (446,860)  5,213,560 
Gold (44 contracts, settlement date February 25, 2015)  (0.13)  (335,420)  5,210,040 
Lean Hogs (113 contracts, settlement date July 15, 2015)  (0.07)  (176,480)  4,098,510 
Lean Hogs (113 contracts, settlement date June 12, 2015)  (0.07)  (188,950)  4,138,060 
Lean Hogs (113 contracts, settlement date April 15, 2015)  (0.07)  (197,270)  3,764,030 
Lean Hogs (113 contracts, settlement date February 13, 2015)  (0.12)  (315,750)  3,670,240 
Light, Sweet Crude Oil (57 contracts, settlement date May 19, 2015)  (0.33)  (893,390)  3,172,050 
Light, Sweet Crude Oil (58 contracts, settlement date April 21, 2015)  (0.38)  (1,019,440)  3,187,680 
Light, Sweet Crude Oil (58 contracts, settlement date March 20, 2015)  (0.57)  (1,532,690)  3,147,080 
Light, Sweet Crude Oil (58 contracts, settlement date February 20, 2015)  (0.58)  (1,560,200)  3,114,600 
Light, Sweet Crude Oil (58 contracts, settlement date January 20, 2015)  (0.58)  (1,550,530)  3,089,660 
Live Cattle (82 contracts, settlement date June 30, 2015)  (0.04)  (114,190)  5,080,720 
Live Cattle (81 contracts, settlement date April 30, 2015)  0.08   218,730   5,261,760 
Live Cattle (81 contracts, settlement date February 27, 2015)  0.09   242,130   5,299,020 
Natural Gas (108 contracts, settlement date May 27, 2015)  (0.25)  (668,300)  3,189,240 
Natural Gas (108 contracts, settlement date April 28, 2015)  (0.26)  (694,840)  3,136,320 
Natural Gas (108 contracts, settlement date March 27, 2015)  (0.29)  (786,680)  3,111,480 
Natural Gas (108 contracts, settlement date February 25, 2015)  (0.37)  (1,000,490)  3,127,680 
Natural Gas (108 contracts, settlement date January 28, 2015)  (0.40)  (1,071,100)  3,120,120 
NY Harbor ULSD (42 contracts, settlement date May 29, 2015)  (0.33)  (873,041)  3,200,602 
NY Harbor ULSD (41 contracts, settlement date April 30, 2015)  (0.32)  (861,353)  3,105,627 
NY Harbor ULSD (41 contracts, settlement date March 31, 2015)  (0.50)  (1,337,461)  3,104,594 
NY Harbor ULSD (41 contracts, settlement date February 27, 2015)  (0.53)  (1,409,974)  3,129,218 
NY Harbor ULSD (41 contracts, settlement date January 30, 2015)  (0.50)  (1,333,559)  3,157,459 
Platinum (130 contracts, settlement date July 29, 2015)  0.01   33,995   7,871,500 
Platinum (129 contracts, settlement date April 28, 2015)  0.01   20,485   7,801,275 
Silver (66 contracts, settlement date July 29, 2015)  (0.02)  (47,050)  5,168,460 
Silver (67 contracts, settlement date May 27, 2015)  (0.35)  (940,295)  5,236,720 
Silver (67 contracts, settlement date March 27, 2015)  (0.34)  (913,105)  5,225,665 
Soybean (101 contracts, settlement date July 14, 2015)  (0.03)  (92,050)  5,236,850 
Soybean (101 contracts, settlement date May 14, 2015)  (0.07)  (199,812)  5,204,025 
Soybean (102 contracts, settlement date March 13, 2015)  (0.06)  (163,712)  5,219,850 
Soybean Oil (269 contracts, settlement date July 14, 2015)  (0.04)  (102,582)  5,253,570 
Soybean Oil (269 contracts, settlement date May 14, 2015)  (0.13)  (336,222)  5,221,290 
Soybean Oil (270 contracts, settlement date March 13, 2015)  (0.13)  (337,578)  5,206,680 
Sugar (314 contracts, settlement date June 30, 2015)  (0.17)  (441,795)  5,363,120 
Sugar (315 contracts, settlement date April 30, 2015)  (0.31)  (834,389)  5,263,776 
Sugar (315 contracts, settlement date February 27, 2015)  (0.39)  (1,039,808)  5,122,656 
Wheat (176 contracts, settlement date July 14, 2015)  0.12   314,688   5,258,000 
Wheat (176 contracts, settlement date May 14, 2015)  0.04   106,325   5,231,600 
Wheat (176 contracts, settlement date March 13, 2015)  0.05   143,925   5,189,800 
Net Unrealized Depreciation on Futures Contracts  (10.21)% $(27,249,076) $266,577,952 
*           Denotes greater than 0.000% yet less than  0.005%
          
Description Percentage
of Net Assets		  
Fair
Value
  
Face
Value
 
U.S. Treasury Obligations         
U.S. Treasury Bills, 0.03% due November 20, 2014  15.58% $49,999,300  $50,000,000 
U.S. Treasury Bills, 0.03% due November 28, 2014  15.57   49,999,200   50,000,000 
Total U.S. Treasury Obligations (cost $99,996,305)  31.15% $99,998,500  $100,000,000 
             
Description Percentage
of Net Assets		  
Fair
Value
  
Notional
Value
 
Unrealized Appreciation/(Depreciation) on Futures Contracts            
Cocoa (291 contracts, settlement date May 13, 2015)  0.05% $170,360  $9,408,030 
Cocoa (291 contracts, settlement date March 16, 2015)  0.06   197,730   9,483,690 
Coffee (85 contracts, settlement date May 18, 2015)  0.05   166,294   6,370,219 
Coffee (85 contracts, settlement date March 19, 2015)  0.05   149,831   6,293,719 
Coffee (85 contracts, settlement date December 18, 2014)  0.14   444,094   6,163,031 
Copper (83 contracts, settlement date May 27, 2015)  (0.12)  (377,787)  6,258,200 
Copper (83 contracts, settlement date March 27, 2015)  (0.12)  (371,375)  6,250,938 
Copper (84 contracts, settlement date December 29, 2014)  (0.04)  (139,000)  6,315,750 
Corn (379 contracts, settlement date May 14, 2015)  (0.27)  (865,050)  6,480,900 
Corn (379 contracts, settlement date March 13, 2015)  (0.27)  (872,500)  6,319,825 
Corn (380 contracts, settlement date December 12, 2014)  (0.54)  (1,744,263)  6,094,250 
Cotton (207 contracts, settlement date May 06, 2015)  (0.15)  (470,165)  6,339,375 
Cotton (206 contracts, settlement date March 09, 2015)  (0.43)  (1,364,220)  6,226,350 
Cotton (206 contracts, settlement date December 08, 2014)  (0.41)  (1,330,530)  6,321,110 
Gold (51 contracts, settlement date April 28, 2015)  (0.14)  (443,990)  6,185,790 
Gold (52 contracts, settlement date February 25, 2015)  (0.11)  (341,910)  6,303,960 
Gold (52 contracts, settlement date December 29, 2014)  (0.15)  (478,080)  6,300,320 
Lean Hogs (171 contracts, settlement date April 15, 2015)  0.05   146,070   6,202,170 
Lean Hogs (172 contracts, settlement date February 13, 2015)  (0.01)  (46,440)  6,221,240 
Lean Hogs (171 contracts, settlement date December 12, 2014)  0.02   52,680   6,465,510 
Light, Sweet Crude Oil (43 contracts, settlement date March 20, 2015)  (0.07)  (230,420)  3,813,240 
Light, Sweet Crude Oil (42 contracts, settlement date February 20, 2015)  (0.07)  (229,520)  3,740,520 
Light, Sweet Crude Oil (42 contracts, settlement date January 20, 2015)  (0.07)  (217,780)  3,754,380 
Light, Sweet Crude Oil (42 contracts, settlement date December 19, 2014)  (0.11)  (360,950)  3,769,920 
Light, Sweet Crude Oil (42 contracts, settlement date November 20, 2014)  (0.11)  (363,960)  3,791,340 
Live Cattle (97 contracts, settlement date April 30, 2015)  0.10   333,660   6,296,270 
Live Cattle (96 contracts, settlement date February 27, 2015)  0.14   448,770   6,296,640 
Live Cattle (96 contracts, settlement date December 31, 2014)  0.25   788,960   6,277,440 
Natural Gas (91 contracts, settlement date March 27, 2015)  0.01   38,370   3,524,430 
Natural Gas (92 contracts, settlement date February 25, 2015)  0.03   81,300   3,822,600 
Natural Gas (91 contracts, settlement date January 28, 2015)  0.03   87,930   3,854,760 
Natural Gas (91 contracts, settlement date December 29, 2014)  (0.08)  (256,120)  3,869,320 
Natural Gas (91 contracts, settlement date November 25, 2014)  (0.09)  (282,670)  3,812,900 
NY Harbor ULSD (34 contracts, settlement date March 31, 2015)  (0.10)  (311,636)  3,796,338 
NY Harbor ULSD (33 contracts, settlement date February 27, 2015)  (0.10)  (311,090)  3,691,888 
NY Harbor ULSD (34 contracts, settlement date January 30, 2015)  (0.10)  (316,756)  3,806,477 
NY Harbor ULSD (34 contracts, settlement date December 31, 2014)  (0.12)  (383,221)  3,803,621 
NY Harbor ULSD (34 contracts, settlement date November 28, 2014)  (0.13)  (413,566)  3,793,625 
Platinum (145 contracts, settlement date April 28, 2015)  (0.28)  (885,345)  9,440,225 
Platinum (145 contracts, settlement date January 28, 2015)  (0.38)  (1,216,695)  9,428,625 
Silver (73 contracts, settlement date May 27, 2015)  (0.32)  (1,039,140)  6,248,435 
Silver (73 contracts, settlement date March 27, 2015)  (0.32)  (1,020,430)  6,240,405 
Silver (74 contracts, settlement date December 29, 2014)  (0.28)  (897,680)  6,311,090 
Soybean (135 contracts, settlement date May 14, 2015)  (0.32)  (1,018,387)  6,331,500 
Soybean (135 contracts, settlement date March 13, 2015)  (0.31)  (995,712)  6,275,812 
Soybean (135 contracts, settlement date January 14, 2015)  (0.52)  (1,679,900)  6,218,438 
Soybean Oil (240 contracts, settlement date January 14, 2015)  (0.22)  (711,912)  4,701,600 
Soybean Oil (240 contracts, settlement date March 13, 2015)  (0.14)  (441,366)  4,740,480 
Soybean Oil (240 contracts, settlement date May 14, 2015)  (0.14)   (450,642)  4,760,640 
Soybean Oil (241 contracts, settlement date December 12, 2014)  (0.29)  (916,836)  4,680,702 
Sugar (509 contracts, settlement date April 30, 2015)  (0.24)  (781,950)  9,514,635 
Sugar (510 contracts, settlement date February 27, 2015)  (0.36)  (1,152,435)  9,396,240 
Wheat (257 contracts, settlement date May 14, 2015)  (0.38)  (1,234,038)  6,408,937 
Wheat (257 contracts, settlement date March 13, 2015)  (0.37)  (1,190,887)  6,302,925 
Wheat (258 contracts, settlement date December 12, 2014)  (0.45)  (1,442,863)  6,162,975 
Net Unrealized Depreciation on Futures Contracts  (8.25) % $(26,493,168) $320,683,750 

See accompanying notes to unaudited consolidated financial statements
 
GreenHaven Continuous Commodity Index Fund
Unaudited Consolidated ScheduleStatements of Investments
December 31, 2013
          
  Percentage  Fair  Face 
Description of Net Assets  Value  Value 
U.S. Treasury Obligations         
U.S. Treasury Bills, 0.01% due January 16, 2014  15.62% $49,999,850  $50,000,000 
U.S. Treasury Bills, 0.01% due January 23, 2014  46.88   149,998,950   150,000,000 
Total U.S. Treasury Obligations (cost $199,996,365)  62.50% $199,998,800  $200,000,000 
             
  Percentage  Fair  Notional 
Description of Net Assets  Value  Value 
Unrealized Appreciation/(Depreciation) on Futures Contracts            
Cocoa (231 contracts, settlement date July 16, 2014)  0.01% $35,760  $6,292,440 
Cocoa (231 contracts, settlement date May 14, 2014)  0.13   411,440   6,273,960 
Cocoa (231 contracts, settlement date March 14, 2014)  0.12   381,180   6,257,790 
Coffee (148 contracts, settlement date July 21, 2014)  0.07   216,881   6,388,050 
Coffee (148 contracts, settlement date May 19, 2014)  (0.17)  (536,812)  6,268,725 
Coffee (148 contracts, settlement date March 19, 2014)  (0.17)  (545,550)  6,143,850 
Copper (74 contracts, settlement date July 29, 2014)  0.06   200,375   6,240,975 
Copper (74 contracts, settlement date May 28, 2014)  0.07   207,963   6,262,250 
Copper (74 contracts, settlement date March 27, 2014)  0.08   240,550   6,283,525 
Corn (292 contracts, settlement date July 14, 2014)  (0.05)  (170,225)  6,380,200 
Corn (292 contracts, settlement date May 14, 2014)  (0.19)  (618,075)  6,281,650 
Corn (292 contracts, settlement date March 14, 2014)  (0.20)  (625,900)  6,161,200 
Cotton (149 contracts, settlement date July 09, 2014)  0.09   301,180   6,256,510 
Cotton (149 contracts, settlement date May 07, 2014)  0.00*  (10,605)  6,287,800 
Cotton (148 contracts, settlement date March 07, 2014)  (0.02)  (59,930)  6,263,360 
Gold (52 contracts, settlement date June 26, 2014)  (0.15)  (487,650)  6,258,720 
Gold (52 contracts, settlement date April 28, 2014)  (0.15)  (482,440)  6,255,600 
Gold (52 contracts, settlement date February 26, 2014)  (0.17)  (529,510)  6,251,960 
Lean Hogs (125 contracts, settlement date July 15, 2014)  0.02   72,180   4,942,500 
Lean Hogs (125 contracts, settlement date June 13, 2014)  0.01   46,480   5,007,500 
Lean Hogs (125 contracts, settlement date April 14, 2014)  0.07   229,450   4,533,750 
Lean Hogs (126 contracts, settlement date February 14, 2014)  0.00**  9,330   4,305,420 
Light, Sweet Crude Oil (39 contracts, settlement date May 20, 2014)  0.04   136,060   3,793,920 
Light, Sweet Crude Oil (38 contracts, settlement date April 22, 2014)  0.05   144,650   3,723,620 
Light, Sweet Crude Oil (38 contracts, settlement date March 20, 2014)  0.02   55,240   3,740,720 
Light, Sweet Crude Oil (38 contracts, settlement date February 20, 2014)  0.01   31,670   3,744,900 
Light, Sweet Crude Oil (38 contracts, settlement date January 21, 2014)  0.00**  5,710   3,739,960 
Live Cattle (118 contracts, settlement date June 30, 2014)  0.01   44,040   6,108,860 
Live Cattle (117 contracts, settlement date April 30, 2014)  0.06   187,100   6,332,040 
Live Cattle (118 contracts, settlement date February 28, 2014)  0.10   335,300   6,354,300 
Natural Gas (91 contracts, settlement date May 28, 2014)  0.12   397,390   3,743,740 
Natural Gas (91 contracts, settlement date April 28, 2014)  0.13   412,180   3,726,450 
Natural Gas (91 contracts, settlement date March 27, 2014)  0.11   362,890   3,735,550 
Natural Gas (90 contracts, settlement date February 26, 2014)  0.12   383,380   3,773,700 
Natural Gas (90 contracts, settlement date January 29, 2014)  0.12   395,000   3,807,000 
NY Harbor ULSD (30 contracts, settlement date May 30, 2014) ***  0.06   205,317   3,810,996 
NY Harbor ULSD (30 contracts, settlement date April 30, 2014) ***  0.07   207,673   3,822,714 
NY Harbor ULSD (29 contracts, settlement date March 31, 2014) ***  0.04   116,840   3,706,983 
NY Harbor ULSD (29 contracts, settlement date February 28, 2014) ***  0.03   102,001   3,719,528 
NY Harbor ULSD (29 contracts, settlement date January 31, 2014) ***  0.04   113,904   3,733,414 
Platinum (137 contracts, settlement date July 29, 2014)  (0.15)  (490,930)  9,430,395 
Platinum (137 contracts, settlement date April 28, 2014)  (0.18)  (574,305)  9,410,530 
Silver (64 contracts, settlement date July 29, 2014)  (0.18)  (567,615)  6,220,160 
Silver (65 contracts, settlement date May 28, 2014)  (0.15)  (490,235)  6,306,625 
Silver (65 contracts, settlement date March 27, 2014)  (0.15)  (479,325)  6,295,250 
Soybean (98 contracts, settlement date July 14, 2014)  0.06   182,763   6,196,050 
Soybean (98 contracts, settlement date May 14, 2014)  0.11   344,875   6,257,300 
Soybean (98 contracts, settlement date March 14, 2014)  0.13   401,825   6,333,250 
Soybean Oil (266 contracts, settlement date July 14, 2014)  (0.12)  (397,332)  6,361,656 
Soybean Oil (264 contracts, settlement date May 14, 2014)  (0.15)  (466,266)  6,255,216 
Soybean Oil (264 contracts, settlement date March 14, 2014)  (0.14)  (450,534)  6,198,192 
Sugar (338 contracts, settlement date June 30, 2014)  (0.12)  (385,806)  6,333,309 
Sugar (338 contracts, settlement date April 30, 2014)  (0.11)  (337,557)  6,268,954 
Sugar (339 contracts, settlement date February 28, 2014)  (0.14)  (462,112)  6,230,549 
Wheat (205 contracts, settlement date July 14, 2014)  (0.17)  (549,650)  6,321,687 
Wheat (205 contracts, settlement date May 14, 2014)  (0.20)  (627,613)  6,273,000 
Wheat (205 contracts, settlement date March 14, 2014)  (0.20)  (627,788)  6,203,812 
Net Unrealized Depreciation on Futures Contracts  (1.27)% $(4,055,188) $319,612,065 
             
*             Denotes less than 0.000% yet greater than (0.005)%
**           Denotes greater than 0.000% yet less than 0.005%
Income and Expenses
***        The CME Group changed specificationsFor the Three Months Ended March 31, 2015 and the name of Heating Oil futures to ‘NY Harbor ULSD’ in May 20132014
         
  2015  2014 
Income      
Interest Income $10,326  $10,011 
         
Expenses        
Management fee to related party  534,030   690,079 
Brokerage fees and expenses  125,654   162,372 
Total expenses  659,684   852,451 
Net Investment Loss  (649,358)  (842,440)
         
Realized and Net Change in Unrealized Gain (Loss) on Investments and Futures Contracts
        
Realized Gain (Loss) on        
Futures Contracts  (28,433,985)  8,746,949 
Net Realized Gain (Loss)  (28,433,985)  8,746,949 
Net Change in Unrealized Gain on        
Investments  1,521   1,693 
Futures Contracts  10,547,678   21,964,056 
Net Change in Unrealized Gain  10,549,199   21,965,749 
Net Realized and Unrealized Gain (Loss) on Investments and Futures Contracts  (17,884,786)  30,712,698 
         
Net Gain (Loss) $(18,534,144) $29,870,258 
 
See accompanying notes to unaudited consolidated financial statements
 
GreenHaven Continuous Commodity Index Fund
Unaudited Consolidated StatementsStatement of Income and Expenses
Changes in Shareholders’ Equity
For the Three Months Ended September 30, 2014 and 2013
and Nine Months Ended September 30, 2014 and 2013March 31, 2015
             
  Three Months  Three Months  Nine Months  Nine Months 
  Ended  Ended  Ended  Ended 
  September 30,  September 30,  September 30,  September 30, 
  2014  2013  2014  2013 
             
Income            
Interest Income $8,256  $30,080  $33,686  $175,532 
                 
Expenses                
Management fee to related party  739,176   815,413   2,184,858   2,763,342 
Brokerage fees and expenses  173,923   191,861   514,084   650,198 
Total expenses  913,099   1,007,274   2,698,942   3,413,540 
Net Investment Loss  (904,843)  (977,194)  (2,665,256)  (3,238,008)
                 
Realized and Net Change in Unrealized Gain (Loss) on Investments and Futures Contracts
                
Realized Gain (Loss) on                
Investments  —   533   —   1,923 
Futures Contracts  (13,600,852)  (18,349,415)  10,263,073   (49,851,835)
Net Realized Gain (Loss)  (13,600,852)  (18,348,882)  10,263,073   (49,849,912)
Net Change in Unrealized Gain (Loss) on                
Investments  (847)  (3,787)  (240)  (14,816)
Futures Contracts  (26,394,106)  30,625,671   (22,437,980)  14,084,283 
Net Change in Unrealized Gain (Loss)  (26,394,953)  30,621,884   (22,438,220)  14,069,467 
Net Realized and Unrealized Gain (Loss) on Investments and Futures Contracts
  (39,995,805)  12,273,002   (12,175,147)  (35,780,445)
                 
Net Gain (Loss) $(40,900,648) $11,295,808  $(14,840,403) $(39,018,453)
                                     
  General Units  Limited Units  Total 
           Total           Total    
           General           Limited  Total 
  General Units  Accumulated  Shareholders’  Limited Units  Accumulated  Shareholders’  Shareholders’ 
  Units  Amount  Deficit  Equity  Units  Amount  Deficit  Equity  Equity 
                            
Balance at Dec. 31, 2014
  50  $1,500  $(360) $1,140   11,700,000  $350,523,308  $(83,626,314) $266,896,994  $266,898,134 
Creation of Limited Units  —   —   —   —   250,000   5,487,716   —   5,487,716   5,487,716 
Redemption of Limited Units  —   —   —   —   (450,000)  (10,086,172)  —   (10,086,172)  (10,086,172)
Net Loss:                                    
Net Investment Loss  —   —   (3)  (3)  —   —   (649,355)  (649,355)  (649,358)
Net Realized Loss on Investments and Futures Contracts
  —   —   (122)  (122)  —   —   (28,433,863)  (28,433,863)  (28,433,985)
Net Change in Unrealized Gain on Investments and Futures Contracts
  —   —   45   45   —   —   10,549,154   10,549,154   10,549,199 
Net Loss  —   —   (80)  (80)  —   —   (18,534,064)  (18,534,064)  (18,534,144)
Balance at March 31, 2015  50  $1,500  $(440) $1,060   11,500,000  $345,924,852  $(102,160,378) $243,764,474  $243,765,534 
 
See accompanying notes to unaudited consolidated financial statements
GreenHaven Continuous Commodity Index Fund
Unaudited Consolidated Statement of Changes in Shareholders’ Equity
For the Nine Months Ended September 30, 2014
                            
   General Units   Limited Units  Total 
           Total           Total    
           General           Limited  Total 
  General Units Accumulated  Shareholders’  Limited Units Accumulated   Shareholders’  Shareholders’ 
  Units  Amount  Deficit  Equity  Units  Amount  Deficit  Equity  Equity 
                               
Balance at January 01, 2014  50  $1,500  $(215) $1,285   12,450,000  $364,838,413  $(44,847,114) $319,991,299  $319,992,584 
Creation of Limited Units  —   —   —   —   1,550,000   43,387,949   —   43,387,949   43,387,949 
Redemption of Limited Units  —   —   —   —   (1,050,000)  (27,522,724)  —   (27,522,724)  (27,522,724)
Net Loss:                                    
Net Investment Loss  —   —   (11)  (11)  —   —   (2,665,245)  (2,665,245)  (2,665,256)
Net Realized Gain on Investments and Futures Contracts
  —   —   45   45   —   —   10,263,028   10,263,028   10,263,073 
Net Change in Unrealized Loss on Investments and Futures Contracts
  —   —   (80)  (80)  —   —   (22,438,140)  (22,438,140)  (22,438,220)
Net Activity  —   —   (46)  (46)  500,000   15,865,225   (14,840,357)  (14,840,357)  (14,840,403)
Balance at September 30, 2014  50  $1,500  $(261) $1,239   12,950,000  $380,703,638  $(59,687,471) $321,016,167  $321,017,406 
See accompanying notes to unaudited consolidated financial statements

GreenHaven Continuous Commodity Index Fund
Unaudited Consolidated Statements of Cash Flows
For the NineThree Months Ended September 30,March 31, 2015 and 2014 and 2013
         
  2015  2014 
       
Cash flow from operating activities:      
Net Gain (Loss) $(18,534,144) $29,870,258 
Adjustments to reconcile net gain (loss) to net cash provided by (used for) operating activities:
        
Purchase of investment securities  (199,989,853)  (199,987,096)
Proceeds from sales of investment securities  200,000,000   200,000,000 
Net accretion of discount  (10,326)  (10,011)
Unrealized appreciation on investments and futures contracts  (10,549,199)  (21,965,749)
Increase in accrued expenses  17,123   98,574 
Net cash provided by (used for) operating activities  (29,066,399)  8,005,976 
         
Cash flows from financing activities:        
Proceeds from creation of Limited Units  5,487,716   16,702,869 
Redemption of Limited Units  (10,086,172)  (18,382,307)
Increase in capital shares payable  —   4,228,931 
Net cash provided by (used for) financing activities  (4,598,456)  2,549,493 
         
Net change in cash  (33,664,855)  10,555,469 
Cash held by broker at beginning of period  94,433,074   124,417,599 
Cash held by broker at end of period $60,768,219  $134,973,068 
 
  2014  2013 
       
Cash flow from operating activities:      
Net Loss $(14,840,403) $(39,018,453)
Adjustments to reconcile net loss to net cash provided by operating activities:
        
Purchase of investment securities  (528,461,254)  (1,284,836,043)
Proceeds from sales of investment securities  628,495,000   1,409,997,852 
Net accretion of discount  (33,686)  (175,532)
Net realized gain (loss) on investments  —   (1,923)
Unrealized depreciation (appreciation) on investments  22,438,220   (14,069,467)
Decrease in accrued expenses  (55,164)  (362,095)
Net cash provided by operating activities  107,542,713   71,534,339 
         
Cash flows from financing activities:        
Proceeds from creation of Limited Units  43,387,949   25,704,700 
Redemption of Limited Units  (27,522,724)  (106,455,350)
Decrease in capital shares payable  —   (4,327,722)
Net cash provided by (used for) financing activities  15,865,225   (85,078,372)
         
Net change in cash  123,407,938   (13,544,033)
Cash held by broker at beginning of period  124,417,599   22,210,626 
Cash held by broker at end of period $247,825,537  $8,666,593 
         
See accompanying notes to unaudited consolidated financial statements
See accompanying notes to unaudited consolidated financial statements
 
GreenHaven Continuous Commodity Index Master Fund
Statements of Financial Condition
September 30, 2014March 31, 2015 (unaudited) and December 31, 20132014
            
 September 30, 2014  December 31,  March 31, 2015  December 31, 
 (unaudited)  2013  (unaudited)  2014 
Assets            
Equity in broker trading accounts:            
Short-term investments (cost $99,996,305 and $199,996,365 as of September 30, 2014 and December 31, 2013, respectively)
 $99,998,500  $199,998,800 
Short-term investments (cost $199,994,248 and $199,994,069 as of March 31, 2015 and December 31, 2014, respectively) $199,996,950  $199,995,250 
Cash held by broker  247,825,537   124,417,599   60,768,219   94,433,074 
Net unrealized depreciation on futures contracts  (26,493,168)  (4,055,188)  (16,701,398)  (27,249,076)
Total assets $321,330,869  $320,361,211  $244,063,771  $267,179,248 
                
Liabilities and shareholders’ equity
        
Liabilities and shareholders’ equity        
Management fee payable to related party $232,843  $241,143   177,535   205,492 
Accrued brokerage fees and expenses payable  80,620   127,484   120,702   75,622 
Total liabilities  313,463   368,627  $298,237  $281,114 
                
Shareholders’ equity                
General Units:                
Paid in capital - 50 units issued  1,500   1,500   1,500   1,500 
Accumulated deficit  (261)  (215)  (440)  (360)
Total General Units  1,239   1,285   1,060   1,140 
Limited Units:                
Paid in capital - 12,950,000 and 12,450,000 redeemable shares issued and outstanding as of September 30, 2014 and December 31, 2013, respectively
  380,703,638   364,838,413 
Paid in capital - 11,500,000 and 11,700,000 redeemable shares issued and outstanding as of March 31, 2015 and December 31, 2014, respectively  345,924,852   350,523,308 
Accumulated deficit  (59,687,471)  (44,847,114)  (102,160,378)  (83,626,314)
                
Total Limited Units  321,016,167   319,991,299   243,764,474   266,896,994 
                
Total shareholders’ equity  321,017,406   319,992,584   243,765,534   266,898,134 
Total liabilities and shareholders’ equity $321,330,869  $320,361,211  $244,063,771  $267,179,248 
                
Net asset value per share                
                
General Units $24.78  $25.70  $21.20  $22.80 
                
Limited Units $24.79  $25.70  $21.20  $22.81 
        
See accompanying notes to unaudited consolidated financial statements

See accompanying notes to unaudited consolidated financial statements
GreenHaven Continuous Commodity Index Master Fund
Unaudited Schedule of Investments
September 30, 2014March 31, 2015
             
  Percentage  Fair  Face 
Description of Net Assets  Value  Value 
U.S. Treasury Obligations         
U.S. Treasury Bills, 0.02% due April 23, 2015  41.02% $99,999,400  $100,000,000 
U.S. Treasury Bills, 0.02% due June 11, 2015  20.51   49,998,750   50,000,000 
U.S. Treasury Bills, 0.02% due June 25, 2015  20.51   49,998,800   50,000,000 
Total U.S. Treasury Obligations (cost $199,994,248)  82.04% $199,996,950  $200,000,000 
             
  Percentage  Fair  Notional 
Description of Net Assets  Value  Value 
Unrealized Appreciation/(Depreciation) on Futures Contracts            
Cocoa (178 contracts, settlement date September 15, 2015)  (0.12)% $(294,420) $4,795,320 
Cocoa (177 contracts, settlement date July 16, 2015)  (0.11)  (279,580)  4,777,230 
Cocoa (177 contracts, settlement date May 13, 2015)  (0.13)  (314,520)  4,777,230 
Coffee (94 contracts, settlement date September 18, 2015)  (0.31)  (761,906)  4,905,037 
Coffee (94 contracts, settlement date July 21, 2015)  (0.50)  (1,207,163)  4,797,525 
Coffee (93 contracts, settlement date May 18, 2015)  (0.46)  (1,112,138)  4,634,888 
Copper (69 contracts, settlement date September 28, 2015)  0.12   283,913   4,730,812 
Copper (70 contracts, settlement date July 29, 2015)  (0.07)  (164,275)  4,799,375 
Copper (70 contracts, settlement date May 27, 2015)  (0.11)  (277,213)  4,795,000 
Corn (248 contracts, settlement date September 14, 2015)  (0.07)  (175,687)  4,860,800 
Corn (250 contracts, settlement date July 14, 2015)  (0.10)  (233,650)  4,803,125 
Corn (249 contracts, settlement date May 14, 2015)  (0.04)  (91,862)  4,684,312 
Cotton (226 contracts, settlement date July 09, 2015)  0.06   149,365   7,170,980 
Cotton (227 contracts, settlement date May 06, 2015)  0.00*  4,305   7,161,850 
Gold (60 contracts, settlement date August 27, 2015)  (0.09)  (225,450)  7,104,600 
Gold (61 contracts, settlement date June 26, 2015)  (0.04)  (88,880)  7,217,520 
Lean Hogs (99 contracts, settlement date October 14, 2015)  (0.02)  (61,430)  2,738,340 
Lean Hogs (99 contracts, settlement date August 14, 2015)  (0.12)  (284,240)  3,077,910 
Lean Hogs (99 contracts, settlement date July 15, 2015)  (0.17)  (420,610)  3,055,140 
Lean Hogs (98 contracts, settlement date June 12, 2015)  (0.18)  (447,660)  2,971,360 
Lean Hogs (99 contracts, settlement date April 15, 2015)  (0.28)  (682,310)  2,472,030 
Light, Sweet Crude Oil (56 contracts, settlement date August 20, 2015)  (0.09)  (231,110)  2,950,640 
Light, Sweet Crude Oil (56 contracts, settlement date July 21, 2015)  (0.09)  (221,710)  2,902,480 
Light, Sweet Crude Oil (57 contracts, settlement date June 22, 2015)  (0.02)  (60,110)  2,894,460 
Light, Sweet Crude Oil (57 contracts, settlement date May 19, 2015)  (0.12)  (283,710)  2,812,380 
Light, Sweet Crude Oil (57 contracts, settlement date April 21, 2015)  (0.19)  (467,480)  2,713,200 
Live Cattle (79 contracts, settlement date October 30, 2015)  0.07   180,670   4,777,920 
Live Cattle (79 contracts, settlement date August 31, 2015)  0.00*  5,990   4,724,200 
Live Cattle (79 contracts, settlement date June 30, 2015)  (0.03)  (75,940)  4,813,470 
Natural Gas (104 contracts, settlement date August 27, 2015)  (0.05)  (114,500)  2,897,440 
Natural Gas (105 contracts, settlement date July 29, 2015)  (0.05)  (127,120)  2,921,100 
Natural Gas (105 contracts, settlement date June 26, 2015)  (0.08)  (190,000)  2,888,550 
Natural Gas (105 contracts, settlement date May 27, 2015)  (0.12)  (283,460)  2,825,550 
Natural Gas (105 contracts, settlement date April 28, 2015)  (0.12)  (304,830)  2,772,000 
NY Harbor ULSD (39 contracts, settlement date August 31, 2015)  (0.08)  (185,350)  2,899,260 
NY Harbor ULSD (39 contracts, settlement date July 31, 2015)  (0.08)  (188,084)  2,864,371 
NY Harbor ULSD (39 contracts, settlement date June 30, 2015)  0.01   27,031   2,835,706 
NY Harbor ULSD (39 contracts, settlement date May 29, 2015)  (0.18)  (428,547)  2,811,463 
NY Harbor ULSD (40 contracts, settlement date April 30, 2015)  (0.16)  (382,246)  2,869,440 
Platinum (125 contracts, settlement date October 28, 2015)  (0.09)  (213,660)  7,155,000 
Platinum (125 contracts, settlement date July 29, 2015)  (0.13)  (329,120)  7,146,250 
Silver (57 contracts, settlement date September 28, 2015)  (0.04)  (88,585)  4,752,375 
Silver (58 contracts, settlement date July 29, 2015)  0.06   136,475   4,825,600 
Silver (57 contracts, settlement date May 27, 2015)  (0.01)  (36,995)  4,730,430 
Soybean (98 contracts, settlement date August 14, 2015)  (0.11)  (257,250)  4,788,525 
Soybean (98 contracts, settlement date July 14, 2015)  (0.09)  (230,363)  4,790,975 
Soybean (98 contracts, settlement date May 14, 2015)  (0.09)  (223,913)  4,768,925 
Soybean Oil (156 contracts, settlement date October 14, 2015)  (0.05)  (122,604)  2,874,456 
Soybean Oil (156 contracts, settlement date September 14, 2015)  (0.06)  (135,366)  2,879,136 
Soybean Oil (156 contracts, settlement date August 14, 2015)  (0.10)  (252,510)  2,873,520 
Soybean Oil (156 contracts, settlement date July 14, 2015)  (0.07)  (182,760)  2,866,032 
Soybean Oil (157 contracts, settlement date May 14, 2015)  (0.09)  (208,710)  2,862,738 
Sugar (348 contracts, settlement date September 30, 2015)  (0.38)  (918,187)  4,942,157 
Sugar (350 contracts, settlement date June 30, 2015)  (0.57)  (1,386,180)  4,727,520 
Sugar (350 contracts, settlement date April 30, 2015)  (0.62)  (1,522,741)  4,676,560 
Wheat (185 contracts, settlement date September 14, 2015)  (0.03)  (84,062)  4,833,125 
Wheat (185 contracts, settlement date July 14, 2015)  (0.15)  (360,350)  4,754,500 
Wheat (186 contracts, settlement date May 14, 2015)  (0.11)  (268,600)  4,759,275 
Net Unrealized Depreciation on Futures Contracts  (6.85)% $(16,701,398) $243,511,113 
 
* Denotes greater than 0.000% yet less than 0.005%
  Percentage  Fair  Face 
Description of Net Assets  Value  Value 
U.S. Treasury Obligations         
U.S. Treasury Bills, 0.03% due November 20, 2014  15.58% $49,999,300  $50,000,000 
U.S. Treasury Bills, 0.03% due November 28, 2014  15.57   49,999,200   50,000,000 
Total U.S. Treasury Obligations (cost $99,996,305)  31.15% $99,998,500  $100,000,000 
             
  Percentage  Fair  Notional 
Description of Net Assets  Value  Value 
Unrealized Appreciation/(Depreciation) on Futures Contracts            
Cocoa (291 contracts, settlement date May 13, 2015)  0.05% $170,360  $9,408,030 
Cocoa (291 contracts, settlement date March 16, 2015)  0.06   197,730   9,483,690 
Coffee (85 contracts, settlement date May 18, 2015)  0.05   166,294   6,370,219 
Coffee (85 contracts, settlement date March 19, 2015)  0.05   149,831   6,293,719 
Coffee (85 contracts, settlement date December 18, 2014)  0.14   444,094   6,163,031 
Copper (83 contracts, settlement date May 27, 2015)  (0.12)  (377,787)  6,258,200 
Copper (83 contracts, settlement date March 27, 2015)  (0.12)  (371,375)  6,250,938 
Copper (84 contracts, settlement date December 29, 2014)  (0.04)  (139,000)  6,315,750 
Corn (379 contracts, settlement date May 14, 2015)  (0.27)  (865,050)  6,480,900 
Corn (379 contracts, settlement date March 13, 2015)  (0.27)  (872,500)  6,319,825 
Corn (380 contracts, settlement date December 12, 2014)  (0.54)  (1,744,263)  6,094,250 
Cotton (207 contracts, settlement date May 06, 2015)  (0.15)  (470,165)  6,339,375 
Cotton (206 contracts, settlement date March 09, 2015)  (0.43)  (1,364,220)  6,226,350 
Cotton (206 contracts, settlement date December 08, 2014)  (0.41)  (1,330,530)  6,321,110 
Gold (51 contracts, settlement date April 28, 2015)  (0.14)  (443,990)  6,185,790 
Gold (52 contracts, settlement date February 25, 2015)  (0.11)  (341,910)  6,303,960 
Gold (52 contracts, settlement date December 29, 2014)  (0.15)  (478,080)  6,300,320 
Lean Hogs (171 contracts, settlement date April 15, 2015)  0.05   146,070   6,202,170 
Lean Hogs (172 contracts, settlement date February 13, 2015)  (0.01)  (46,440)  6,221,240 
Lean Hogs (171 contracts, settlement date December 12, 2014)  0.02   52,680   6,465,510 
Light, Sweet Crude Oil (43 contracts, settlement date March 20, 2015)  (0.07)  (230,420)  3,813,240 
Light, Sweet Crude Oil (42 contracts, settlement date February 20, 2015)  (0.07)  (229,520)  3,740,520 
Light, Sweet Crude Oil (42 contracts, settlement date January 20, 2015)  (0.07)  (217,780)  3,754,380 
Light, Sweet Crude Oil (42 contracts, settlement date December 19, 2014)  (0.11)  (360,950)  3,769,920 
Light, Sweet Crude Oil (42 contracts, settlement date November 20, 2014)  (0.11)  (363,960)  3,791,340 
Live Cattle (97 contracts, settlement date April 30, 2015)  0.10   333,660   6,296,270 
Live Cattle (96 contracts, settlement date February 27, 2015)  0.14   448,770   6,296,640 
Live Cattle (96 contracts, settlement date December 31, 2014)  0.25   788,960   6,277,440 
Natural Gas (91 contracts, settlement date March 27, 2015)  0.01   38,370   3,524,430 
Natural Gas (92 contracts, settlement date February 25, 2015)  0.03   81,300   3,822,600 
Natural Gas (91 contracts, settlement date January 28, 2015)  0.03   87,930   3,854,760 
Natural Gas (91 contracts, settlement date December 29, 2014)  (0.08)  (256,120)  3,869,320 
Natural Gas (91 contracts, settlement date November 25, 2014)  (0.09)  (282,670)  3,812,900 
NY Harbor ULSD (34 contracts, settlement date March 31, 2015)  (0.10)  (311,636)  3,796,338 
NY Harbor ULSD (33 contracts, settlement date February 27, 2015)  (0.10)  (311,090)  3,691,888 
NY Harbor ULSD (34 contracts, settlement date January 30, 2015)  (0.10)  (316,756)  3,806,477 
NY Harbor ULSD (34 contracts, settlement date December 31, 2014)  (0.12)  (383,221)  3,803,621 
NY Harbor ULSD (34 contracts, settlement date November 28, 2014)  (0.13)  (413,566)  3,793,625 
Platinum (145 contracts, settlement date April 28, 2015)  (0.28)  (885,345)  9,440,225 
Platinum (145 contracts, settlement date January 28, 2015)  (0.38)  (1,216,695)  9,428,625 
Silver (73 contracts, settlement date May 27, 2015)  (0.32)  (1,039,140)  6,248,435 
Silver (73 contracts, settlement date March 27, 2015)  (0.32)  (1,020,430)  6,240,405 
Silver (74 contracts, settlement date December 29, 2014)  (0.28)  (897,680)  6,311,090 
Soybean (135 contracts, settlement date May 14, 2015)  (0.32)  (1,018,387)  6,331,500 
Soybean (135 contracts, settlement date March 13, 2015)  (0.31)  (995,712)  6,275,812 
Soybean (135 contracts, settlement date January 14, 2015)  (0.52)  (1,679,900)  6,218,438 
Soybean Oil (240 contracts, settlement date January 14, 2015)  (0.22)  (711,912)  4,701,600 
Soybean Oil (240 contracts, settlement date March 13, 2015)  (0.14)  (441,366)  4,740,480 
Soybean Oil (240 contracts, settlement date May 14, 2015)   (0.14)  (450,642)  4,760,640 
Soybean Oil (241 contracts, settlement date December 12, 2014)  (0.29)  (916,836)  4,680,702 
Sugar (509 contracts, settlement date April 30, 2015)  (0.24)  (781,950)  9,514,635 
Sugar (510 contracts, settlement date February 27, 2015)  (0.36)  (1,152,435)  9,396,240 
Wheat (257 contracts, settlement date May 14, 2015)  (0.38)  (1,234,038)  6,408,937 
Wheat (257 contracts, settlement date March 13, 2015)  (0.37)  (1,190,887)  6,302,925 
Wheat (258 contracts, settlement date December 12, 2014)  (0.45)  (1,442,863)  6,162,975 
Net Unrealized Depreciation on Futures Contracts  (8.25)% $(26,493,168) $320,683,750 
 
See accompanying notes to unaudited consolidated financial statements
GreenHaven Continuous Commodity Index Master Fund

Schedule of Investments
December 31, 20132014
  Percentage  Fair  Face 
Description of Net Assets  Value  Value 
U.S. Treasury Obligations         
U.S. Treasury Bills, 0.01% due January 22, 2015  37.47% $99,998,600  $100,000,000 
U.S. Treasury Bills, 0.03% due March 12, 2015  18.73   49,998,100   50,000,000 
U.S. Treasury Bills, 0.06% due March 26, 2015  18.73   49,998,550   50,000,000 
Total U.S. Treasury Obligations (cost $199,994,069)  74.93% $199,995,250  $200,000,000 

  Percentage  Fair  Notional 
Description of Net Assets  Value  Value 
Unrealized Appreciation/(Depreciation) on Futures Contracts         
Cocoa (181 contracts, settlement date July 16, 2015)  0.03% $83,950  $5,229,090 
Cocoa (181 contracts, settlement date May 13, 2015)  (0.13)  (334,480)  5,234,520 
Cocoa (181 contracts, settlement date March 16, 2015)  (0.12)  (316,920)  5,267,100 
Coffee (82 contracts, settlement date July 21, 2015)  (0.25)  (671,513)  5,285,925 
Coffee (82 contracts, settlement date May 18, 2015)  (0.27)  (719,438)  5,205,975 
Coffee (83 contracts, settlement date March 19, 2015)  (0.28)  (747,038)  5,185,425 
Copper (74 contracts, settlement date July 29, 2015)  (0.12)  (320,262)  5,227,175 
Copper (74 contracts, settlement date May 27, 2015)  (0.22)  (584,150)  5,223,475 
Copper (74 contracts, settlement date March 27, 2015)  (0.21)  (559,600)  5,227,175 
Corn (258 contracts, settlement date July 14, 2015)  0.04   101,863   5,321,250 
Corn (258 contracts, settlement date May 14, 2015)  0.09   250,975   5,234,175 
Corn (259 contracts, settlement date March 13, 2015)  0.09   242,600   5,141,150 
Cotton (171 contracts, settlement date July 09, 2015)  0.00*  5,610   5,301,000 
Cotton (171 contracts, settlement date May 06, 2015)  (0.12)  (316,150)  5,221,485 
Cotton (171 contracts, settlement date March 09, 2015)  (0.27)  (716,905)  5,153,085 
Gold (44 contracts, settlement date June 26, 2015)  0.03   88,470   5,215,760 
Gold (44 contracts, settlement date April 28, 2015)  (0.17)  (446,860)  5,213,560 
Gold (44 contracts, settlement date February 25, 2015)  (0.13)  (335,420)  5,210,040 
Lean Hogs (113 contracts, settlement date July 15, 2015)  (0.07)  (176,480)  4,098,510 
Lean Hogs (113 contracts, settlement date June 12, 2015)  (0.07)  (188,950)  4,138,060 
Lean Hogs (113 contracts, settlement date April 15, 2015)  (0.07)  (197,270)  3,764,030 
Lean Hogs (113 contracts, settlement date February 13, 2015)  (0.12)  (315,750)  3,670,240 
Light, Sweet Crude Oil (57 contracts, settlement date May 19, 2015)  (0.33)  (893,390)  3,172,050 
Light, Sweet Crude Oil (58 contracts, settlement date April 21, 2015)  (0.38)  (1,019,440)  3,187,680 
Light, Sweet Crude Oil (58 contracts, settlement date March 20, 2015)  (0.57)  (1,532,690)  3,147,080 
Light, Sweet Crude Oil (58 contracts, settlement date February 20, 2015)  (0.58)  (1,560,200)  3,114,600 
Light, Sweet Crude Oil (58 contracts, settlement date January 20, 2015)  (0.58)  (1,550,530)  3,089,660 
Live Cattle (82 contracts, settlement date June 30, 2015)  (0.04)  (114,190)  5,080,720 
Live Cattle (81 contracts, settlement date April 30, 2015)  0.08   218,730   5,261,760 
Live Cattle (81 contracts, settlement date February 27, 2015)  0.09   242,130   5,299,020 
Natural Gas (108 contracts, settlement date May 27, 2015)  (0.25)  (668,300)  3,189,240 
Natural Gas (108 contracts, settlement date April 28, 2015)  (0.26)  (694,840)  3,136,320 
Natural Gas (108 contracts, settlement date March 27, 2015)  (0.29)  (786,680)  3,111,480 
Natural Gas (108 contracts, settlement date February 25, 2015)  (0.37)  (1,000,490)  3,127,680 
Natural Gas (108 contracts, settlement date January 28, 2015)  (0.40)  (1,071,100)  3,120,120 
NY Harbor ULSD (42 contracts, settlement date May 29, 2015)  (0.33)  (873,041)  3,200,602 
NY Harbor ULSD (41 contracts, settlement date April 30, 2015)  (0.32)  (861,353)  3,105,627 
NY Harbor ULSD (41 contracts, settlement date March 31, 2015)  (0.50)  (1,337,461)  3,104,594 
NY Harbor ULSD (41 contracts, settlement date February 27, 2015)  (0.53)  (1,409,974)  3,129,218 
NY Harbor ULSD (41 contracts, settlement date January 30, 2015)  (0.50)  (1,333,559)  3,157,459 
Platinum (130 contracts, settlement date July 29, 2015)  0.01   33,995   7,871,500 
Platinum (129 contracts, settlement date April 28, 2015)  0.01   20,485   7,801,275 
Silver (66 contracts, settlement date July 29, 2015)  (0.02)  (47,050)  5,168,460 
Silver (67 contracts, settlement date May 27, 2015)  (0.35)  (940,295)  5,236,720 
Silver (67 contracts, settlement date March 27, 2015)  (0.34)  (913,105)  5,225,665 
Soybean (101 contracts, settlement date July 14, 2015)  (0.03)  (92,050)  5,236,850 
Soybean (101 contracts, settlement date May 14, 2015)  (0.07)  (199,812)  5,204,025 
Soybean (102 contracts, settlement date March 13, 2015)  (0.06)  (163,712)  5,219,850 
Soybean Oil (269 contracts, settlement date July 14, 2015)  (0.04)  (102,582)  5,253,570 
Soybean Oil (269 contracts, settlement date May 14, 2015)  (0.13)  (336,222)  5,221,290 
Soybean Oil (270 contracts, settlement date March 13, 2015)  (0.13)  (337,578)  5,206,680 
Sugar (314 contracts, settlement date June 30, 2015)  (0.17)  (441,795)  5,363,120 
Sugar (315 contracts, settlement date April 30, 2015)  (0.31)  (834,389)  5,263,776 
Sugar (315 contracts, settlement date February 27, 2015)  (0.39)  (1,039,808)  5,122,656 
Wheat (176 contracts, settlement date July 14, 2015)  0.12   314,688   5,258,000 
Wheat (176 contracts, settlement date May 14, 2015)  0.04   106,325   5,231,600 
Wheat (176 contracts, settlement date March 13, 2015)  0.05   143,925   5,189,800 
Net Unrealized Depreciation on Futures Contracts  (10.21)% $(27,249,076) $266,577,952 
  Percentage  Fair  Face 
Description of Net Assets  Value  Value 
U.S. Treasury Obligations         
U.S. Treasury Bills, 0.01% due January 16, 2014  15.62% $49,999,850  $50,000,000 
U.S. Treasury Bills, 0.01% due January 23, 2014  46.88   149,998,950   150,000,000 
Total U.S. Treasury Obligations (cost $199,996,365)  62.50% $199,998,800  $200,000,000 
             
  Percentage  Fair  Notional 
Description of Net Assets  Value  Value 
Unrealized Appreciation/(Depreciation) on Futures Contracts            
Cocoa (231 contracts, settlement date July 16, 2014)  0.01% $35,760  $6,292,440 
Cocoa (231 contracts, settlement date May 14, 2014)  0.13   411,440   6,273,960 
Cocoa (231 contracts, settlement date March 14, 2014)  0.12   381,180   6,257,790 
Coffee (148 contracts, settlement date July 21, 2014)  0.07   216,881   6,388,050 
Coffee (148 contracts, settlement date May 19, 2014)  (0.17)  (536,812)  6,268,725 
Coffee (148 contracts, settlement date March 19, 2014)  (0.17)  (545,550)  6,143,850 
Copper (74 contracts, settlement date July 29, 2014)  0.06   200,375   6,240,975 
Copper (74 contracts, settlement date May 28, 2014)  0.07   207,963   6,262,250 
Copper (74 contracts, settlement date March 27, 2014)  0.08   240,550   6,283,525 
Corn (292 contracts, settlement date July 14, 2014)  (0.05)  (170,225)  6,380,200 
Corn (292 contracts, settlement date May 14, 2014)  (0.19)  (618,075)  6,281,650 
Corn (292 contracts, settlement date March 14, 2014)  (0.20)  (625,900)  6,161,200 
Cotton (149 contracts, settlement date July 09, 2014)  0.09   301,180   6,256,510 
Cotton (149 contracts, settlement date May 07, 2014)  0.00*  (10,605)  6,287,800 
Cotton (148 contracts, settlement date March 07, 2014)  (0.02)  (59,930)  6,263,360 
Gold (52 contracts, settlement date June 26, 2014)  (0.15)  (487,650)  6,258,720 
Gold (52 contracts, settlement date April 28, 2014)  (0.15)  (482,440)  6,255,600 
Gold (52 contracts, settlement date February 26, 2014)  (0.17)  (529,510)  6,251,960 
Lean Hogs (125 contracts, settlement date July 15, 2014)  0.02   72,180   4,942,500 
Lean Hogs (125 contracts, settlement date June 13, 2014)  0.01   46,480   5,007,500 
Lean Hogs (125 contracts, settlement date April 14, 2014)  0.07   229,450   4,533,750 
Lean Hogs (126 contracts, settlement date February 14, 2014)  0.00**  9,330   4,305,420 
Light, Sweet Crude Oil (39 contracts, settlement date May 20, 2014)  0.04   136,060   3,793,920 
Light, Sweet Crude Oil (38 contracts, settlement date April 22, 2014)  0.05   144,650   3,723,620 
Light, Sweet Crude Oil (38 contracts, settlement date March 20, 2014)  0.02   55,240   3,740,720 
Light, Sweet Crude Oil (38 contracts, settlement date February 20, 2014)  0.01   31,670   3,744,900 
Light, Sweet Crude Oil (38 contracts, settlement date January 21, 2014)  0.00**  5,710   3,739,960 
Live Cattle (118 contracts, settlement date June 30, 2014)  0.01   44,040   6,108,860 
Live Cattle (117 contracts, settlement date April 30, 2014)  0.06   187,100   6,332,040 
Live Cattle (118 contracts, settlement date February 28, 2014)  0.10   335,300   6,354,300 
Natural Gas (91 contracts, settlement date May 28, 2014)  0.12   397,390   3,743,740 
Natural Gas (91 contracts, settlement date April 28, 2014)  0.13   412,180   3,726,450 
Natural Gas (91 contracts, settlement date March 27, 2014)  0.11   362,890   3,735,550 
Natural Gas (90 contracts, settlement date February 26, 2014)  0.12   383,380   3,773,700 
Natural Gas (90 contracts, settlement date January 29, 2014)  0.12   395,000   3,807,000 
NY Harbor ULSD (30 contracts, settlement date May 30, 2014) ***  0.06   205,317   3,810,996 
NY Harbor ULSD (30 contracts, settlement date April 30, 2014) ***  0.07   207,673   3,822,714 
NY Harbor ULSD (29 contracts, settlement date March 31, 2014) ***  0.04   116,840   3,706,983 
NY Harbor ULSD (29 contracts, settlement date February 28, 2014) ***  0.03   102,001   3,719,528 
NY Harbor ULSD (29 contracts, settlement date January 31, 2014) ***  0.04   113,904   3,733,414 
Platinum (137 contracts, settlement date July 29, 2014)  (0.15)  (490,930)  9,430,395 
Platinum (137 contracts, settlement date April 28, 2014)  (0.18)  (574,305)  9,410,530 
Silver (64 contracts, settlement date July 29, 2014)  (0.18)  (567,615)  6,220,160 
Silver (65 contracts, settlement date May 28, 2014)  (0.15)  (490,235)  6,306,625 
Silver (65 contracts, settlement date March 27, 2014)  (0.15)  (479,325)  6,295,250 
Soybean (98 contracts, settlement date July 14, 2014)  0.06   182,763   6,196,050 
Soybean (98 contracts, settlement date May 14, 2014)  0.11   344,875   6,257,300 
Soybean (98 contracts, settlement date March 14, 2014)  0.13   401,825   6,333,250 
Soybean Oil (266 contracts, settlement date July 14, 2014)  (0.12)  (397,332)  6,361,656 
Soybean Oil (264 contracts, settlement date May 14, 2014)  (0.15)  (466,266)  6,255,216 
Soybean Oil (264 contracts, settlement date March 14, 2014)  (0.14)  (450,534)  6,198,192 
Sugar (338 contracts, settlement date June 30, 2014)  (0.12)  (385,806)  6,333,309 
Sugar (338 contracts, settlement date April 30, 2014)  (0.11)  (337,557)  6,268,954 
Sugar (339 contracts, settlement date February 28, 2014)  (0.14)  (462,112)  6,230,549 
Wheat (205 contracts, settlement date July 14, 2014)  (0.17)  (549,650)  6,321,687 
Wheat (205 contracts, settlement date May 14, 2014)  (0.20)  (627,613)  6,273,000 
Wheat (205 contracts, settlement date March 14, 2014)  (0.20)  (627,788)  6,203,812 
Net Unrealized Depreciation on Futures Contracts  (1.27)% $(4,055,188) $319,612,065 
             
*       Denotes less than 0.000% yet greater than (0.005)%            
**     Denotes greater than 0.000% yet less than 0.005%            
***   The CME Group changed specifications and the name of Heating Oil futures to ‘NY Harbor ULSD’ in May 2013            
*       Denotes greater than 0.000% yet less than 0.005%
 
See accompanying notes to unaudited consolidated financial statements
 
GreenHaven Continuous Commodity Index Master Fund
Unaudited Statements of Income and Expenses
For the Three Months Ended March 31, 2015 and 2014
  2015  2014 
Income      
Interest Income $10,326  $10,011 
         
Expenses        
Management fee to related party  534,030   690,079 
Brokerage fees and expenses  125,654   162,372 
Total expenses  659,684   852,451 
Net Investment Loss  (649,358)  (842,440)
         
         
Realized and Net Change in Unrealized Gain (Loss) on Investments and Futures Contracts
        
Realized Gain (Loss) on        
Futures Contracts  (28,433,985)  8,746,949 
Net Realized Gain (Loss)  (28,433,985)  8,746,949 
Net Change in Unrealized Gain on        
Investments  1,521   1,693 
Futures Contracts  10,547,678   21,964,056 
Net Change in Unrealized Gain  10,549,199   21,965,749 
Net Realized and Unrealized Gain (Loss) on Investments and Futures Contracts  (17,884,786)  30,712,698 
         
Net Gain (Loss) $(18,534,144) $29,870,258 
See accompanying notes to unaudited consolidated financial statements
12

GreenHaven Continuous Commodity Index Master Fund
Unaudited Statements of Income and Expenses
For the Three Months Ended September 30, 2014 and 2013
and Nine Months Ended September 30, 2014 and 2013
             
  Three Months  Three Months  Nine Months  Nine Months 
  Ended  Ended  Ended  Ended 
  
September 30, 2014
  
September 30, 2013
  
September 30, 2014
  
September 30, 2013
 
             
Income            
Interest Income $8,256  $30,080  $33,686  $175,532 
                 
Expenses                
Management fee to related party  739,176   815,413   2,184,858   2,763,342 
Brokerage fees and expenses  173,923   191,861   514,084   650,198 
Total expenses  913,099   1,007,274   2,698,942   3,413,540 
Net Investment Loss  (904,843)  (977,194)  (2,665,256)  (3,238,008)
                 
Realized and Net Change in Unrealized Gain (Loss) on Investments and Futures Contracts Realized Gain (Loss) on
                
Investments  —   533   —   1,923 
Futures Contracts  (13,600,852)  (18,349,415)  10,263,073   (49,851,835)
Net Realized Gain (Loss)  (13,600,852)  (18,348,882)  10,263,073   (49,849,912)
Net Change in Unrealized Gain (Loss) on                
Investments  (847)  (3,787)  (240)  (14,816)
Futures Contracts  (26,394,106)  30,625,671   (22,437,980)  14,084,283 
Net Change in Unrealized Gain (Loss)  (26,394,953)  30,621,884   (22,438,220)  14,069,467 
Net Realized and Unrealized Gain (Loss) on Investments and Futures Contracts
  (39,995,805)  12,273,002   (12,175,147)  (35,780,445)
                 
Net Gain (Loss) $(40,900,648) $11,295,808  $(14,840,403) $(39,018,453)
                 
See accompanying notes to unaudited consolidated financial statements



GreenHaven Continuous Commodity Index Master Fund
Unaudited Statement of Changes in Shareholders’ Equity

For the Nine Months Ended September 30, 2014March 31, 2015
  General Units  Limited Units  Total 
           Total           Total    
           General           Limited  Total 
  General Units  Accumulated  Shareholders’  Limited Units  Accumulated  Shareholders’  Shareholders’ 
  Units  Amount  Deficit  Equity  Units  Amount  Deficit  Equity  Equity 
                            
Balance at December 31, 2014  50  $1,500  $(360) $1,140   11,700,000  $350,523,308  $(83,626,314) $266,896,994  $266,898,134 
Creation of Limited Units  —   —   —   —   250,000   5,487,716   —   5,487,716   5,487,716 
Redemption of Limited Units  —   —   —   —   (450,000)  (10,086,172)  —   (10,086,172)  (10,086,172)
Net Loss:                                    
Net Investment Loss  —   —   (3)  (3)  —   —   (649,355)  (649,355)  (649,358)
Net Realized Loss on Investments and Futures Contracts
  —   —   (122)  (122)  —   —   (28,433,863)  (28,433,863)  (28,433,985)
Net Change in Unrealized Gain on Investments and Futures Contracts
  —   —   45   45   —   —   10,549,154   10,549,154   10,549,199 
Net Loss  —   —   (80)  (80)  —   —   (18,534,064)  (18,534,064)  (18,534,144)
Balance at March 31, 2015  50  $1,500  $(440) $1,060   11,500,000  $345,924,852  $(102,160,378) $243,764,474  $243,765,534 
 
  General Units  Limited Units  Total 
  
Total
General
   
Total
Limited
  Total 
  General Units  Accumulated  Shareholders’  Limited Units  Accumulated  Shareholders’  Shareholders’ 
  Units  Amount  Deficit  Equity  Units  Amount  Deficit  Equity  Equity 
     
Balance at January 01, 2014  50  $1,500  $(215) $1,285   12,450,000  $364,838,413  $(44,847,114) $319,991,299  $319,992,584 
 Creation of Limited Units  —   —   —   —   1,550,000   43,387,949   —   43,387,949   43,387,949 
 Redemption of Limited Units  —   —   —   —   (1,050,000)  (27,522,724)  —   (27,522,724)  (27,522,724)
Net Loss:     
Net Investment Loss  —   —   (11)  (11)  —   —   (2,665,245)  (2,665,245)  (2,665,256)
Net Realized Gain on Investments and Futures Contracts  —   —   45   45   —   —   10,263,028   10,263,028   10,263,073 
Net Change in Unrealized Loss on Investments and Futures Contracts  —   —   (80)  (80)  —   —   (22,438,140)  (22,438,140)  (22,438,220)
 Net Activity  —   —   (46)  (46)  500,000   15,865,225   (14,840,357)  (14,840,357)  (14,840,403)
Balance at September 30, 2014  50  $1,500  $(261) $1,239   12,950,000  $380,703,638  $(59,687,471) $321,016,167  $321,017,406 
 
See accompanying notes to unaudited consolidated financial statements
See accompanying notes to unaudited consolidated financial statements

GreenHaven Continuous Commodity Index Master Fund

Unaudited Statements of Cash Flows

For the Nine Months Ended September 30,March 31, 2015 and 2014 and 2013

  2014  2013 
  
Cash flow from operating activities:      
Net Loss $(14,840,403) $(39,018,453)
Adjustments to reconcile net loss to net cash provided by operating activities:        
Purchase of investment securities  (528,461,254)  (1,284,836,043)
Proceeds from sales of investment securities  628,495,000   1,409,997,852 
Net accretion of discount  (33,686)  (175,532)
Net realized gain (loss) on investments  —   (1,923)
Unrealized depreciation (appreciation) on investments  22,438,220   (14,069,467)
Decrease in accrued expenses  (55,164)  (362,095)
Net cash provided by operating activities  107,542,713   71,534,339 
  
Cash flows from financing activities:        
Proceeds from creation of Limited Units  43,387,949   25,704,700 
Redemption of Limited Units  (27,522,724)  (106,455,350)
Decrease in capital shares payable  —   (4,327,722)
Net cash provided by (used for) financing activities  15,865,225   (85,078,372)
  
Net change in cash  123,407,938   (13,544,033)
Cash held by broker at beginning of period  124,417,599   22,210,626 
Cash held by broker at end of period $247,825,537  $8,666,593 
  
See accompanying notes to unaudited consolidated financial statements 
 
  2015  2014 
       
Cash flow from operating activities:      
Net Gain (Loss) $(18,534,144) $29,870,258 
Adjustments to reconcile net gain (loss) to net cash provided by (used for) operating activities:
        
Purchase of investment securities  (199,989,853)  (199,987,096)
Proceeds from sales of investment securities  200,000,000   200,000,000 
Net accretion of discount  (10,326)  (10,011)
Unrealized appreciation on investments and futures contracts  (10,549,199)  (21,965,749)
Increase in accrued expenses  17,123   98,574 
Net cash provided by (used for) operating activities  (29,066,399)  8,005,976 
         
Cash flows from financing activities:        
Proceeds from creation of Limited Units  5,487,716   16,702,869 
Redemption of Limited Units  (10,086,172)  (18,382,307)
Increase in capital shares payable  —   4,228,931 
Net cash provided by (used for) financing activities  (4,598,456)  2,549,493 
         
Net change in cash  (33,664,855)  10,555,469 
Cash held by broker at beginning of period  94,433,074   124,417,599 
Cash held by broker at end of period $60,768,219  $134,973,068 
See accompanying notes to unaudited consolidated financial statements
14

GreenHaven Continuous Commodity Index Fund
GreenHaven Continuous Commodity Index Master Fund
Notes to Unaudited Consolidated Financial Statements
September 30, 2014March 31, 2015

(1) Organization

The GreenHaven Continuous Commodity Index Fund (the “Fund”; “Fund” may also refer to the Fund and the Master Fund, collectively as the context requires) was formed as a Delaware statutory trust on October 27, 2006, and GreenHaven Continuous Commodity Index Master Fund (the “Master Fund”), was formed as a Delaware statutory trust on October 27, 2006. The Fund offers common units of beneficial interest (the “Shares”). Upon inception of the Fund, 50 General Units of the Fund were issued to GreenHaven Commodity Services, LLC (the “Managing Owner”) in exchange for a capital contribution of $1,500. The Managing Owner serves the Fund as commodity pool operator, commodity trading advisor, and managing owner.

The proceeds from the offering of Shares are invested in the Master Fund (See Note (7)7 for details of the procedures for creation and redemption of Shares in the Fund). The Master Fund actively trades exchange traded futures on the commodities comprising the Thomson Reuters Equal Weight Continuous Commodity Index (the “Index”), with a view to tracking the performance of the Index over time. The Master Fund’s portfolio also includes United States Treasury securities and other high credit-quality, short-term fixed income securities for deposit with the Master Fund’s commodity broker as margin. The Fund wholly owns the Master Fund. The Fund and Master Fund commenced investment operations on January 23, 2008 with the offering of 350,000 Shares in exchange for $10,500,000. The Fund commenced trading on the American Stock Exchange (now known as the NYSE Arca) on January 24, 2008 and, as of November 25, 2008, was listed on the NYSE Arca.

The Index is intended to reflect the performance of certain commodities. The commodities comprising the Index (the “Index Commodities”) are: corn, soybeans, soybean oil, wheat, live cattle, lean hogs, gold, silver, copper, cocoa, coffee, sugar, cotton, platinum, crude oil, heating oil, and natural gas.

The Managing Owner and the Shareholders share in any profits and losses of the Fund attributable to the Fund in proportion to the percentage interest owned by each.

The Managing Owner, the Fund and the Master Fund retain the services of third party service providers to the extent necessary to operate the ongoing operations of the Fund and the Master Fund. (See Note (2)).

Unaudited Interim Financial Information
The financial statements as of September 30, 2014March 31, 2015 and for the threethree-months ended March 31, 2015 and nine-months ended September 30, 2014 and 2013 included herein are unaudited. In the opinion of the Managing Owner, the unaudited financial statements have been prepared on the same basis as the annual financial statements and include all adjustments, which are of the normal recurring nature, necessary for a fair statement of the Fund’s financial position, investments, results of operations and its cash flows. Interim results are not necessarily indicative of the results that will be achieved for the year or for any other interim period or for any future year.
 
 (2) Service Providers and Related Party Agreements

(a) “The Trustee” – CSC Trust is the trustee for the Fund and Master Fund. CSC Trust is headquartered in Wilmington, DE.

(b) “The Managing Owner” – GreenHaven Commodity Services, LLC is the managing owner of the Fund and Master Fund and is responsible for the day to day operations of both entities. The Managing Owner charges the Fund a management fee for its services. GreenHaven Commodity Services, LLC is a Delaware limited liability company with operations in Atlanta, GA.
 
(c) “The Administrator” — The Bank of New York Mellon Corporation has been appointed by the Managing Owner as the administrator, custodian and transfer agent of the Fund and the Master Fund, and has entered into separate administrative, custodian, transfer agency and service agreements (collectively referred to as the “Administration Agreement”). Pursuant to the Administration Agreement, the Administrator performs or supervises the services necessary for the operation and administration of the Fund and the Master Fund (other than making investment decisions), including receiving calculations of the assets minus the liabilities of the Fund (the “Net Asset Value”), accounting and other fund administrative services. As the Fund’s transfer agent, the Administrator processes additions and redemptions of Shares. These transactions are processed on Depository Trust Company’s (“DTC”) book entry system. The Administrator retains certain financial books and records, including: Basket creation and redemption books and records, fund accounting records, ledgers with respect to assets, liabilities, capital, income and expenses, the registrar, transfer journals and related details and trading and related documents received from futures commission merchants. The Bank of New York Mellon Corporation is based in New York, New York.

(d) “The Commodity Broker” — Morgan Stanley & Co. LLC (“MS&Co.”) is the Master Fund’s Commodity Broker. In its capacity as the Commodity Broker, it executes and clears each of the Master Fund’s futures transactions and performs certain administrative services for the Master Fund. MS&Co. is based in New York, New York.

(e) “The Distributor” — The Managing Owner, on behalf of the Fund and the Master Fund, has appointed ALPS Distributors, Inc., or the Distributor, to assist the Managing Owner and the Administrator with certain functions and duties relating to the creation and redemption of Baskets, including receiving and processing orders from Authorized Participants to create and redeem Baskets, coordinating the processing of such orders and related functions and duties. The Distributor retains all marketing materials and Basket creation and redemption books and records at c/o ALPS Distributors, Inc., 1290 Broadway, Suite 1100, Denver, CO 80203; Telephone number (303) 623-2577. Investors may contact the Distributor toll-free in the U.S. at (800) 320-2577. The Fund has entered into a Distribution Services Agreement with the Distributor.

The Distributor is affiliated with ALPS Mutual Fund Services, Inc., a Denver-based service provider of administration, fund accounting, transfer agency and shareholder services for mutual funds, closed-end funds and exchange-traded funds.

(f) “Authorized Participant” — Authorized Participants may create or redeem Shares of the Fund. Each Authorized Participant must (1) be a registered broker-dealer or other securities market participant such as a bank or other financial institution which is not required to register as a broker-dealer to engage in securities transactions, (2) be a participant in the DTC, and (3) have entered into an agreement (“Participant Agreement”) with the Fund and the Managing Owner. The Participant Agreement sets forth the procedures for the creation and redemption of Baskets of Shares and for the delivery of cash required for such creations or redemptions. A list of the current Authorized Participants can be obtained from the Administrator. A similar agreement between the Fund and the Master Fund sets forth the procedures for the creation and redemption of Baskets of Shares by the Fund.

(3) Summary of Significant Accounting Policies

(a) Use of Estimates

The preparation of the financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the amounts of reported income and expenses. Actual results could differ from those estimates.

(b) Recently Issued Accounting Standards

No recently promulgated accounting standards are expected to have an effect on the Fund’s financial statements.
 
(c) Cash Held by Broker

The Fund defines cash held by broker to be highly liquid investments, with maturities of three months or less when acquired. MS&Co allows the Master Fund to apply its Treasury Bill portfolio towards its initial margin requirement for the Master Fund’s futures positions, hence all cash held by broker is unrestricted cash. The cash and Treasury Bill positions are held in segregated accounts at MS&Co and are not insured by the Federal Deposit Insurance Corporation.

(d) United States Treasury Obligations

The Master Fund records purchases and sales of United States Treasury Obligations on a trade date basis. These holdings are marked to market based on quoted market closing prices. The Master Fund holds United States Treasury Obligations for deposit with the Master Fund’s commodity broker as margin for trading and holding against initial margin of the open futures contracts. Interest income is recognized on an accrual basis when earned. Premiums and discounts are amortized or accreted over the life of the United States Treasury Obligations.

(e) Income Taxes

The Fund and Master Fund are classified as a grantor trust and a partnership respectively, for U.S. federal income tax purposes. Accordingly, neither the Fund nor the Master Fund is subject to U.S. federal, state, or local income taxes. Accordingly, no provision for federal, state, or local income taxes has been made in the accompanying consolidated financial statements, as investors are individually liable for income taxes, if any, on their allocable share of the Fund’s share of the Master Fund’s income, gain, loss, deductions and other items.

The Fund accounts for uncertainty in income taxes pursuant to the applicable accounting standard, which provides measurement, presentation and disclosure guidance related to uncertain tax positions. The guidance addresses how tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under this topic, the Fund may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate resolution.

(f) Futures Contracts

The Master Fund purchases and holds commodity futures contracts for investment purposes. These contracts are recorded on a trade date basis and open contracts are valued daily at settlement prices provided by the relevant exchanges. In the consolidated statementsstatement of financial condition, futures contracts are presented at their published settlement prices on the last business day of the period, in accordance with the fair value accounting standard. Since these contracts are actively traded in markets that are directly observable and which provide readily available price quotes, their market value is deemed to be their fair value under the fair value accounting standard. (See Note (4)4 — Fair Value Measurements).

However, when market closing prices are not available, the Managing Owner may value an asset of the Master Fund pursuant to such other principles as the Managing Owner deems fair and equitable so long as such principles are consistent with the fair value accounting standard. Realized gains (losses) and changes in unrealized appreciation (depreciation) on open positions are determined on a specific identification basis and recognized in the consolidated statementsstatement of income and expenses in the period in which the contract is closed or the changes occur, respectively.

(g) Basis of Presentation and Consolidation

All of the capital raised by the Fund is used to purchase common units of beneficial interest of the Master Fund. The financial statement balances of the Master Fund are consolidated with the Fund’s financial statement balances and all significant inter-company balances and transactions are eliminated. Separate financial statements of the Master Fund are presented to comply with SEC reporting requirements as the Master Fund is a separate SEC registrant.
(h)(i) Subsequent Events
 
For purposes of disclosure in the financial statements, the Fund has evaluated events occurring between the period ended September 30, 2014March 31, 2015 and when the financial statements were issued.
 
During that period, 050,000 Limited Shares were created and 250,000100,000 Limited Shares were redeemed resulting in 12,700,00011,450,000 Limited Shares outstanding.
 
Other than these events, the evaluation did not result in any subsequent events that necessitated disclosures and/or adjustments.
 
(4) Fair Value Measurements
 
The existing guidance for fair value measurements establishes the authoritative definition for fair value, sets out a framework for measuring fair value and outlines the required disclosures regarding fair value measurements. Fair value is the price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. The Company uses a three-tier fair value hierarchy based upon observable and unobservable inputs as follows:
Level 1 — quoted prices (unadjusted) in active markets for identical assets or liabilities that the
Level 1—quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity can access at the measurement date.
Level 2 —inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly.
Level 3 —unobservable inputs for the asset or liability. 
 
Level 2 — inputs other than quoted prices included within Level 1 that are observable for the asset
                  or liability, either directly or indirectly.
Level 3 — unobservable inputs for the asset or liability.
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The assetsinvestments of the Fund are either exchange-traded securities or government securities that are valued using dealer and broker quotations or other inputs that are observable or can be corroborated by observable market data. A summary of the Fund’s assets and liabilitiesinvestments at fair value as of September 30, 2014,March 31, 2015, classified according to the levels used to value them, is as follows:
             
Assets  
Quoted Prices in
Active Market
(Level 1)
  
Other
Significant
Observable
Inputs (Level 2)
  
Significant
Unobservable
Inputs (Level 3)
  Totals 
U.S. Treasuries $-  $99,998,500  $-  $99,998,500 
Futures Contracts  (26,493,168)   -   -   (26,493,168) 
Total $(26,493,168) $99,998,500  $-  $73,505,332 
             
     Other       
 Quoted Prices in  Significant  Significant    
 Active Market  Observable  Unobservable    
Assets (Level 1)  Inputs (Level 2)  Inputs (Level 3)  Totals 
U.S. Treasuries $-  $199,996,950  $-  $199,996,950 
Futures Contracts  (16,701,398)  -   -   (16,701,398)
Total $(16,701,398) $199,996,950  $-  $183,295,552 
 
There were no transfers between Level 1 and Level 2 for the Fund during the ninethree months ended September 30, 2014.March 31, 2015. The Fund did not hold any Level 3 securities during the ninethree months ended September 30, 2014 or 2013.March 31, 2015.
 
A summary of the Fund’s assets and liabilities at fair value as of December 31, 2013,2014, classified according to the levels used to value them, is as follows:
             
Assets  
Quoted Prices in
Active Market
(Level 1)
  
Other
Significant
Observable
Inputs (Level 2)
  
Significant
Unobservable
Inputs (Level 3)
  Totals 
U.S. Treasuries $-  $199,998,800  $-  $199,998,800 
Futures Contracts  (4,055,188)  -   -   (4,055,188)
Total $(4,055,188) $199,998,800  $-  $195,943,612 
             
     Other       
 Quoted Prices in  Significant  Significant    
 Active Market  Observable  Unobservable    
Assets (Level 1)  Inputs (Level 2)  Inputs (Level 3)  Totals 
U.S. Treasuries $-  $199,995,250  $-  $199,995,250 
Futures Contracts  (27,249,076)  -   -   (27,249,076)
Total $(27,249,076) $199,995,250  $-  $172,746,174 
 
There were no transfers between Level 1 and Level 2 for the Fund during the year ended December 31, 2013.2014. The Fund did not hold any Level 3 securities during the year ended December 31, 2013.2014.
 
(5) Derivative Instruments and Hedging Activities
 
The Fund uses derivative instruments as part of its principal investment strategy to achieve its investment objective. As of September 30, 2014,March 31, 2015, the Fund was invested in futures contracts.
 
At September 30, 2014,March 31, 2015, the fair value of derivative instruments waswere as follows:
              
Derivative Instruments Asset Derivatives Liability Derivatives Net Derivatives  Asset Derivatives Liability Derivatives Net Derivatives 
Futures Contracts $(26,493,168)  $                              - $(26,493,168)  $(16,701,398) $- $(16,701,398) 
 
The following is a summary of the realized and unrealized gains and losses of the derivative instruments utilized by the Fund for the ninethree months ended September 30, 2014:March 31, 2015:
          
Derivative Instruments Realized
Gain on
Derivative
Instruments		 
Net Change in Unrealized Loss
on Derivative Instruments
  Realized
Loss on
Derivative
Instruments		 
Net Change in Unrealized Gain 
on Derivative Instruments
 
Futures Contracts $10,263,073�� $(22,437,980)  $(28,433,985) $  10,547,678 
 
At December 31, 2013,2014, the fair value of derivative instruments was as follows:
              
Derivative Instruments Asset Derivatives Liability Derivatives Net Derivatives  Asset Derivatives Liability Derivatives Net Derivatives 
Futures Contracts $(4,055,188) $- $(4,055,188) $(27,249,076) $- $(27,249,076)
 
The following is a summary of the realized and unrealized gains and losses of the derivative instruments utilized by the Fund for the ninethree months ended September 30, 2013:March 31, 2014:
          
Derivative Instruments 
Realized Loss on
Derivative Instruments
 
Net Change in Unrealized Gain
on Derivative Instruments
  
Realized
Gain on
Derivative
Instruments
 
Net Change in Unrealized Gain
on Derivative Instruments
 
Futures Contracts $(49,851,835)$14,084,283  $8,746,949  $21,964,056 
 
(6) Financial Instrument Risk
 
In the normal course of its business, the Fund may be party to financial instruments with off-balance sheet risk. The term “off-balance sheet risk” refers to an unrecorded potential liability that, even though it does not appear on the balance sheet, may result in a future obligation or loss. The financial instruments used by the Fund are commodity futures, whose values are based upon an underlying asset and generally represent future commitments which have a reasonable possibility to be settled in cash or through physical delivery. These instruments are traded on an exchange and are standardized contracts.
 
Market risk is the potential for changes in the value of the financial instruments traded by the Fund due to market changes, including fluctuations in commodity prices. In entering into these contracts, there exists a market risk that such contracts may be significantly influenced by conditions, resulting in such contracts being less valuable. If the markets should move against all of the futures interest positions at the same time, and the Managing Owner was unable to offset such positions, the Fund could experience substantial losses.
 
19

Credit risk is the possibility that a loss may occur due to the failure of an exchange clearinghouse to perform according to the terms of a contract. Credit risk with respect to exchange-traded instruments is reduced to the extent that an exchange or clearing organization acts as counterparty to the transactions. The Fund’s risk of loss in the event of counterparty default is typically limited to the amounts recognized in the statement of assets and liabilities and not represented by the contract or notional amounts of the instruments.
 
The Fund and the Master Fund have not utilized, nor do they expect to utilize in the future, special purpose entities to facilitate off-balance sheet financing arrangements and have no loan guarantee arrangements or off-balance sheet arrangements of any kind other than agreements entered into in the normal course of business.
 
(7) Creation and Redemption of Shares from the Fund
 
As described in the Fund’s Prospectus, the creation and redemption procedures allow only Authorized Participants to create and redeem Shares directly from the Fund. Proceeds from sales of shares of the Fund are invested directly in the Master Fund. Retail investors seeking to purchase or sell Shares on any day are expected to effect such transactions in the secondary market, on the NYSE-Arca, at the market price per Share, rather than in connection with the creation or redemption of Baskets.
 
(a)Creation of Shares
 
The Fund will issueissues Shares in baskets of 50,000 Shares (“Baskets”) only to Authorized Participants continuously as of noon, New York time, on the business day immediately following the date on which a valid order to create a Basket is accepted by the Fund. The Baskets will beare valued as of the closing time of the NYSE Arca or the last to close of the exchanges on which the Index Commodities are traded, whichever is later, on the date that a valid order to create a Basket is accepted by the Fund.
 
The total payment required to create each Basket is the value of the Fund’s Net Asset Value per Share for 50,000 Shares as of the closing time of NYSE Arca or the last to close of the exchanges on which the Index Commodities are traded, whichever is later, on the purchase order date. Baskets will be issued as of 12:00 p.m., New York time, on the Business Day immediately following the creation order date at Net Asset Value per Share as of the closing time of NYSE Arca or the last to close of the exchanges on which the Index Commodities are traded, whichever is later, on the purchase order date during the continuous offering period, but only if the required payment has been timely received.
 
Because orders to create Baskets must be placed by 10:00 a.m., New York time, but the total payment required to create a Basket during the continuous offering period will not be determined until 4:00 p.m., New York time, on the date the creation order is received, Authorized Participants will not know the total amount of the payment required to create a Basket at the time they submit an irrevocable purchase order for the Basket. The Fund’s Net Asset Value and the total amount of the payment required to create a Basket could rise or fall substantially between the time an irrevocable creation order is submitted and the time the amount of the creation price in respect thereof is determined.
 
On any business day, an Authorized Participant may place an order with the Distributor to create one or more Baskets. Creation orders must be placed by 10:00 a.m., New York time. The day on which the Distributor receives a valid creation order is the creation order date.
 
The Administrator may reject a creation order if:
 
 (i)it determines that the creation order is not in proper form;
 
 (ii)the Managing Owner believes that the creation order would have adverse tax consequences to the Fund or its Shareholders; or
 
 (iii)circumstances outside the control of the Managing Owner or the Distributor make it, for all practical purposes, not feasible to process creations of Baskets.
 
The Distributor and the Managing Owner will not be liable for the rejection of any creation order.
 
 (b) Redemption of Shares
 
The procedures by which an Authorized Participant can redeem one or more Baskets mirror the procedures for the creation of Baskets. On any business day, an Authorized Participant may place an order with the Distributor to redeem one or more Baskets. Redemption orders must be placed by 10:00 a.m., New York time. The day on which the Distributor receives a valid redemption order is the redemption order date.
 
By placing a redemption order, an Authorized Participant agrees to deliver the Baskets to be redeemed through DTC’s book-entry system to the Fund not later than noon, New York time, on the business day immediately following the redemption order date. By placing a redemption order, and prior to receipt of the redemption distribution, an Authorized Participant’s DTC account will be charged the non-refundable transaction fee due for the redemption order.
 
The redemption distribution from the Fund consists of the cash redemption amount. The cash redemption amount is equal to the Net Asset Value of the number of Basket(s) requested in the Authorized Participant’s redemption order as of the closing time of the NYSE Arca or the last to close of the exchanges on which the Index Commodities are traded, whichever is later, on the redemption order date. The Fund will distribute the cash redemption amount at noon, New York time, on the business day immediately following the redemption order date through DTC to the account of the Authorized Participant as recorded on DTC’s book entry system.
 
The redemption distribution due from the Fund is delivered to the Authorized Participant at noon, New York time, on the business day immediately following the redemption order date if, by such time on such business day immediately following the redemption order date, the Fund’s DTC account has been credited with the Baskets to be redeemed. If the Fund’s DTC account has not been credited with all of the Baskets to be redeemed by such time, the redemption distribution is delivered to the extent of whole Baskets received. Any remainder of the redemption distribution is delivered on the next business day to the extent of remaining whole Baskets received if the Administrator receives the fee applicable to the extension of the redemption distribution date which the Managing Owner may, from time to time, determine and the remaining Baskets to be redeemed are credited to the Fund’s DTC account by noon, New York time, on such next business day. Any further outstanding amount of the redemption order shall be canceled. The Administrator is also authorized to deliver the redemption distribution notwithstanding that the Baskets to be redeemed are not credited to the Fund’s DTC account by noon, New York time, on the business day immediately following the redemption order date if the Authorized Participant has collateralized its obligation to deliver the Baskets through DTC’s book entry system on such terms as the Administrator and the Managing Owner may from time to time agree upon.
 
The Distributor may, in its discretion, and will when directed by the Managing Owner, suspend the right of redemption or postpone the redemption settlement date, (1) for any period during which an emergency exists as a result of which the redemption distribution is not reasonably practicable, or (2) for such other period as the Managing Owner determines to be necessary for the protection of the Shareholders. In addition, the Distributor will reject a redemption order if the order is not in proper form as described in the Participant Agreement or if the fulfillment of the order, in the opinion of its counsel, might be unlawful. Any such postponement, suspension or rejection could adversely affect a redeeming Authorized Participant. For example, the resulting delay may adversely affect the value of the Authorized Participant’s redemption proceeds if the net asset value of the Fund declines during the period of the delay. Under the Distribution Services Agreement, the Managing Owner and the Distributor may disclaim any liability for any loss or damage that may result from any such suspension or postponement.
 
(8) Operating Expenses, Organizational and Offering Costs
 
(a) Management Fee
 
The Fund pays the Managing Owner a management fee (the “Management Fee”) monthly in arrears, in an amount equal to 0.85% per annum of the net asset value of the Master Fund. The Management Fee is paid in consideration of the use of the license for the Thomson Reuters Equal Weight Continuous Commodity Index held by GreenHaven, LLC, a Georgia limited liability company formed in August 2005, and its subsidiary GreenHaven Commodity Services, LLC, as well as for commodity futures trading advisory services. The management fees incurred for the three-month periodsthree months ended September 30,March 31, 2015 and 2014 were $534,030 and 2013 were $739,176 and $815,413, respectively, and for the nine-month periods ended September 30, 2014 and 2013 were $2,184,858 and $2,763,342,$690,079, respectively. The Management Fees were charged to the Fund and paid to the Managing Owner.
 
(b) Organization and Offering Expenses
 
Expenses incurred in connection with organizing the Fund and the offering of the Shares were paid by GreenHaven, LLC. GreenHaven, LLC is the sole member of the Managing Owner. The Fund does not have an obligation to reimburse GreenHaven, LLC or its affiliates for organization and offering expenses paid on their behalf.
 
(c) Brokerage Commissions, Fees, and Routine Operational, Administrative, and Other Ordinary Expenses
 
The Managing Owner currently does not expect brokerage commissions and fees as well as routine operational, administrative and other ordinary expenses for which the Fund is responsible, including, but not limited to, the fees and expenses of the Trustee, legal and accounting fees and expenses, tax preparation expenses, filing fees, and printing, mailing and duplication costs, to exceed 0.20% of the net asset value of the Master Fund in any year, although the actual amount of such fees and expenses in any year may be greater. The Fund’s brokerage commissions and fees and routine operational, administrative and other ordinary expenses are accrued at a rate of 0.20% per annum in the aggregate. Of the amounts so accrued, the Fund first pays brokerage fees, and secondly from the remainder of the amounts so accrued, reimburses the Managing Owner for the Fund’s routine operational, administrative, and other ordinary expenses paid by the Managing Owner.
 
Brokerage commissions and fees are charged against the Fund’s assets on a per transaction basis. The brokerage commissions, trading fees and routine operational, administrative, and other ordinary expenses incurred for the three-month periodsthree months ended September 30,March 31, 2015 and 2014 were $125,654 and 2013 were $173,923 and $191,861, respectively, and for the nine-month periods ended September 30, 2014 and 2013 were $514,084 and $650,198,$162,372, respectively.
 
(d) Unusual Fees and Expenses
 
The Fund will pay all its unusual fees and expenses, if any. Such unusual fees and expenses, by their nature, are unpredictable in terms of timing and amount. There have been no unusual fees or expenses since the Fund commenced investment operations on January 23, 2008.
 
(9) Termination
 
The term of the Fund is perpetual, unless terminated earlier in certain circumstances as defined in the Trust Agreement.
 
(10) Profit and Loss Allocations and Distributions
 
The Managing Owner and the Shareholders share in any profits and losses of the Fund attributable to the Fund in proportion to the percentage interest owned by each. Distributions may be made at the sole discretion of the Managing Owner on a pro-rata basis in accordance with the respective capital balances of the Shareholders.
 
(11) Commitments and Contingencies
 
The Managing Owner, either in its own capacity or in its capacity as the Managing Owner and on behalf of the Fund, has entered into various service agreements that contain a variety of representations, or provide indemnification provisions related to certain risks service providers undertake in performing services which are in the best interest of the Fund. As of September 30, 2014,March 31, 2015, no claims had been received by the Fund and it was therefore not possible to estimate the Fund’s potential future exposure under such indemnification provisions.
 
(12) Net Asset Value and Financial Highlights
 
The Fund is presenting the following net asset value and financial highlights related to investment performance and operations for a Share outstanding for the three-monththree-months ended March 31, 2015 and nine-month periods ended September 30, 2014 and 2013.2014. The net investment loss and total expense ratios have been annualized. The total return at net asset value is based on the change in net asset value of the Shares during the period and the total return at market value is based on the change in market value of the Shares on the NYSE Arca during the period. An individual investor’s return and ratios may vary based on the timing of capital transactions.
       
  Three Months  Three Months 
  Ended  Ended 
  March 31, 2015  March 31, 2014 
Net Asset Value      
Net asset value per Limited Share, beginning of period $22.81  $25.70 
         
Net realized and change in unrealized gain (loss) from investments  (1.55)  2.56 
Net investment loss on U.S. Treasury Obligations  (0.06)  (0.07)
Net increase (decrease) in net assets from operations  (1.61)  2.49 
Net asset value per Limited Share, end of period $21.20  $28.19 
         
Market value per Limited Share, beginning of period $22.86  $25.74 
Market value per Limited Share, end of period $21.19  $28.18 
         
Ratio to average net assets (i)        
Net investment loss*  (1.03) %  (1.04)%
Total expenses  1.05%  1.05%
         
Total Return, at net asset value (ii)  (7.06) %  9.69%
Total Return, at market value (ii)  (7.31) %  9.48%
      
 
             
  Three Months  Three Months       
  Ended  Ended  Nine Months Ended  Nine Months Ended 
  September 30, 2014  September 30, 2013  September 30, 2014  September 30, 2013 
             
Net Asset Value            
Net asset value per Limited Share, beginning of period $27.91  $25.76  $25.70  $28.85 
                 
Net realized and change in unrealized gain (loss) from investments  (3.05)  0.79   (0.70)  (2.16)
Net investment loss  (0.07)  (0.07)  (0.21)  (0.21)
Net increase (decrease) in net assets from operations  (3.12)  0.72   (0.91)  (2.37)
Net asset value per Limited Share, end of period $24.79  $26.48  $24.79  $26.48 
                 
Market value per Limited Share, beginning of period $27.93   25.79  $25.74   28.83 
Market value per Limited Share, end of period $24.75  $26.39  $24.75  $26.39 
                 
Ratio to average net assets (i)                
Net investment loss  (1.04)%  (1.02)%  (1.04)%  (1.00)%
Total expenses  1.05%  1.05%  1.05%  1.05%
                 
Total Return, at net asset value (ii)  (11.18)%  2.80%  (3.54)%  (8.21)%
Total Return, at market value (ii)  (11.39)%  (2.33)%  (3.85)%  (8.46)%
                 
(i)      Percentages are annualized.                
(ii)     Percentages are not annualized.                
(i)Percentages are annualized. 
(ii) Percentages are not annualized. 
* Net investment loss is calculated by subtracting the Fund expenses from U.S. Treasury Obligations income 
  
ITEM 2.MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.
 
Overview / Introduction
The initial offering period for the GreenHaven Continuous Commodity Index Fund (the “Fund”) began and ended on January 23, 2008 during which time 350,000 Shares were sold at $30 per share for total proceeds of $10,500,000. The entire proceeds were received by the Fund which then invested them in the Master Fund. Shares were then listed for trading on the American Stock Exchange on January 24, 2008, marking the beginning of the continuous offering period. On November 24, 2008 the Fund delisted from the American Stock Exchange and on November 25, 2008 the Fund listed on NYSE Arca. The ticker symbol of the Fund is GCC.
 
Performance Summary
There is no performance history prior to the beginning of trading on January 24, 2008.  For performance history subsequent to the beginning of trading, see the Results of Operations section below.
 
Net Asset Value
The Administrator calculates a daily Net Asset Value per share of the Fund, based on closing prices of the underlying futures contracts. The first such calculation was as of market close on January 24, 2008, the first day of trading on the NYSE Arca, formerly the American Stock Exchange. Values of the underlying Index are computed by Thomson Reuters America, LLC, and disseminated by NYSE Arca every fifteen (15) seconds during the trading day. Only settlement and last-sale prices are used in the Index’s calculation, bids and offers are not recognized — including limit-bid and limit-offer price quotes. Where no last-sale price exists, typically in the more deferred contract months, the previous days’ settlement price is used. This means that the underlying Index may lag its theoretical value. This tendency to lag is evident at the end of the day when the Index value is based on the settlement prices of the component commodities, and explains why the underlying Index often closes at or near the high or low for the day.
 
Critical Accounting Policies
The Fund’s critical accounting policies are as follows:
 
Preparation of the financial statements and related disclosures in conformity with U.S. generally accepted accounting principles requires the application of appropriate accounting rules and guidance, as well as the use of estimates, and requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, revenue and expense and related disclosure of contingent assets and liabilities during the reporting period of the consolidated financial statements and accompanying notes. The Fund’s application of these policies involves judgments and actual results may differ from the estimates used.
 
The Master Fund holds a significant portion of its assets in futures contracts and United States Treasury Obligations, both of which are recorded on a trade date basis and at fair value in the consolidated financial statements, with changes in fair value reported in the consolidated statement of income and expenses. Generally, fair values are based on quoted market closing prices. However, when market closing prices are not available, the Managing Owner may value an asset of the Master Fund pursuant to policies the Managing Owner has adopted, which are consistent with normal industry standards.
 
The use of fair value to measure financial instruments, with related unrealized gains or losses recognized in earnings in each period, is fundamental to the Fund’s financial statements. The fair value of a financial instrument is the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (the exit price).
 
The Fund values United States Treasury Obligations using broker and dealer quotations. The Fund values commodity futures contracts using the quotations from the futures exchanges where the futures contracts are traded. The objective of a fair value measurement is to determine the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). The hierarchy gives the highest priority to unadjusted quoted prices for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.
 
When market closing prices are not available, the Managing Owner may value an asset of the Master Fund pursuant to policies the Managing Owner has adopted, which are consistent with normal industry standards.
Realized gains (losses) and changes in unrealized gain (loss) on open positions are determined on a specific identification basis and recognized in the consolidated statement of income and expenses in the period in which the contract is closed or the changes occur, respectively.
 
Liquidity
In October 2013, the government of the United States came close to a deadline after which it could have possibly defaulted on its own debt. A US debt default could cause liquidity problems for the Fund if it was not able to sell its Treasury Bills or forced to sell its Treasury Bills for a loss. The Managing Owner knows of no other trends, demands, commitments, events or uncertainties that will result in or that are reasonably likely to result in the Fund’s liquidity increasing or decreasing in any material way.
 
Capital Resources
The Fund had no commitments for capital expenditures as of September 30, 2014.March 31, 2015. Currently, the Fund invests only in U.S Treasury bills and in long positions in exchange-traded commodity futures contracts. Therefore, it has no expectation of entering into commitments for capital expenditures at any time in the near future.
 
Off-Balance Sheet Arrangements and Contractual Obligations
As of September 30, 2014March 31, 2015 the Fund had no commitments or contractual obligations other than its long positions in futures contracts as detailed in the Consolidated Schedule of Investments included herein. Typically, those positions require the Fund to deposit initial margin funds with its Commodity Broker in amounts equal to approximately 10% of the notional value of the contracts. Also, the Fund may be required to make additional margin deposits if prices fall for the underlying commodities. Since the Fund is not leveraged, it holds in reserve the shareholder funds not required for margin and invests these in U.S. Treasury bills. These funds are available to meet variation margin calls.
 
In the normal course of its business, the Fund is party to financial instruments with off-balance sheet risk. The term “off-balance sheet risk” refers to an unrecorded potential liability that, even though it does not appear on the balance sheet, may result in a future obligation or loss. The financial instruments used by the Fund are commodity futures, whose values are based upon an underlying asset and generally represent future commitments which have a reasonable possibility to be settled in cash or through physical delivery. The financial instruments are traded on an exchange and are standardized contracts.
 
The Fund has not utilized, nor does it expect to utilize in the future, special purpose entities to facilitate off-balance sheet financing arrangements and has no loan guarantee arrangements or off-balance sheet arrangements of any kind, The Fund’s contractual obligations are with the Managing Owner and the Commodity Broker. Management Fee payments made to the Managing Owner are calculated as a fixed percentage of the Master Fund’s net asset value. Commission payments to the Commodity Broker are on a contract-by-contract, or round-turn, basis. As such, the Managing Owner cannot anticipate the amount of payments that will be required under these arrangements for future periods as future net asset values are not known until a future date.
 
Results of Operations
 
FOR THE PERIOD FROM SEPTEMBERAPRIL 30, 20092010 TO SEPTEMBER 30, 2014MARCH 31, 2015
 
The Fund was launched on January 23, 2008 at $30.00 per share and listed for trading on the NYSE Arca, formerly the American Stock Exchange, on January 24, 2008.
5 Year Performance Summary
 
Date NAV  Total Shares  Net Assets  1 Month  3 Months  Year to Date  Since Inception 
9/30/2009 $23.89   8,350,050  $199,482,695   3.02%  5.10%  9.59%  -20.37%
10/31/2009 $24.94   8,850,050  $220,720,247   4.40%  6.40%  14.40%  -16.87%
11/30/2009 $26.09   7,550,050  $196,980,805   4.61%  12.51%  19.68%  -13.03%
12/31/2009 $26.22   8,750,050  $229,426,311   0.50%  9.75%  20.28%  -12.60%
1/31/2010 $25.09   9,850,050  $247,137,755   -4.31%  0.60%  -4.31%  -16.37%
2/28/2010 $25.67   9,400,050  $241,299,284   2.31%  -1.61%  -2.10%  -14.43%
3/31/2010 $25.07   9,550,050  $239,419,754   -2.34%  -4.39%  -4.39%  -16.43%
4/30/2010 $25.76   9,650,050  $248,585,288   2.75%  2.67%  -1.75%  -14.13%
5/31/2010 $24.50   9,650,050  $236,426,225   -4.89%  -4.56%  -6.56%  -18.33%
6/30/2010 $24.92   9,750,050  $242,971,246   1.71%  -0.60%  -4.96%  -16.93%
7/31/2010 $26.42   10,200,050  $269,485,321   6.02%  2.56%  0.76%  -11.93%
8/31/2010 $26.21   11,250,050  $294,863,811   -0.79%  6.98%  -0.04%  -12.63%
9/30/2010 $28.14   11,100,050  $312,355,407   7.36%  12.92%  7.32%  -6.20%
10/31/2010 $29.76   13,000,050  $386,881,488   5.76%  12.64%  13.50%  -0.80%
11/30/2010 $29.67   14,900,050  $442,084,484   -0.30%  13.20%  13.16%  -1.10%
12/31/2010 $32.88   16,250,050  $534,301,644   10.82%  16.84%  25.40%  9.60%
1/31/2011 $34.01   17,650,050  $600,278,201   3.44%  14.28%  3.44%  13.37%
2/28/2011 $35.16   19,600,050  $689,137,758   3.38%  18.50%  6.93%  17.20%
3/31/2011 $35.20   23,250,050  $818,401,760   0.11%  7.06%  7.06%  17.33%
4/30/2011 $36.34   23,800,050  $864,893,817   3.24%  6.85%  10.52%  21.13%
5/31/2011 $34.87   22,000,050  $767,141,744   -4.05%  -0.82%  6.05%  16.23%
6/30/2011 $33.59   21,850,050  $733,943,180   -3.67%  -4.57%  2.16%  11.97%
7/31/2011 $34.48   21,000,050  $724,081,724   2.65%  -5.12%  4.87%  14.93%
8/31/2011 $35.23   20,700,050  $729,262,762   2.18%  1.03%  7.15%  17.43%
9/30/2011 $30.46   20,600,050  $627,498,123   -13.54%  -9.32%  -7.36%  1.54%
10/31/2011 $32.21   19,200,050  $618,433,611   5.74%  -6.58%  -2.04%  7.37%
11/30/2011 $31.12   20,300,050  $631,737,556   -3.38%  -11.67%  -5.35%  3.73%
12/31/2011 $29.96   19,400,050  $581,225,498   -3.73%  -1.64%  -8.88%  -0.13%
1/31/2012 $31.29   19,550,050  $611,721,065   4.44%  -2.86%  4.44%  4.30%
2/29/2012 $31.70   21,350,050  $676,796,585   1.31%  1.86%  5.81%  5.67%
3/31/2012 $30.35   21,250,050  $644,939,018   -4.26%  1.30%  1.30%  1.17%
4/30/2012 $29.51   20,550,050  $606,431,976   -2.77%  -5.69%  -1.50%  -1.63%
5/31/2012 $26.95   18,300,050  $493,186,348   -8.68%  -14.98%  -10.05%  -10.17%
6/30/2012 $28.43   18,000,050  $511,741,422   5.49%  -6.33%  -5.11%  -5.23%
7/31/2012 $29.65   17,100,050  $507,016,483   4.29%  0.47%  -1.03%  -1.17%
8/31/2012 $30.35   16,650,050  $505,329,018   2.36%  12.62%  1.30%  1.17%
9/30/2012 $30.57   16,900,050  $516,634,529   0.72%  7.53%  2.04%  1.90%
10/31/2012 $29.56   16,600,050  $490,697,478   -3.30%  -0.30%  -1.34%  -1.47%
11/30/2012 $29.83   16,750,050  $499,653,992   0.91%  -1.71%  -0.43%  -0.57%
12/31/2012 $28.85   16,450,050  $474,583,943   -3.29%  -5.63%  -3.70%  -3.83%
1/31/2013 $29.50   16,450,050  $485,276,475   2.25%  -0.20%  2.25%  -1.67%
2/28/2013 $28.21   16,500,050  $465,466,411   -4.37%  -5.43%  -2.22%  -5.97%
3/31/2013 $28.26   17,000,050  $480,421,413   0.18%  -2.05%  -2.05%  -5.80%
4/30/2013 $27.65   16,800,050  $464,521,383   -2.16%  -6.27%  -4.16%  -7.83%
5/31/2013 $26.89   16,200,050  $435,619,345   -2.75%  -4.68%  -6.79%  -10.37%
6/30/2013 $25.76   15,700,050  $404,433,288   -4.20%  -8.85%  -10.71%  -14.13%
7/31/2013 $26.01   14,900,050  $387,550,301   0.97%  -5.93%  -9.84%  -13.30%
8/31/2013 $26.84   13,550,050  $363,683,342   3.19%  -0.19%  -6.97%  -10.53%
9/30/2013 $26.48   13,400,050  $354,833,324   -1.34%  2.80%  -8.21%  -11.73%
10/31/2013 $26.15   13,300,050  $347,796,308   -1.25%  0.54%  -9.36%  -12.83%
11/30/2013 $25.84   13,300,050  $343,673,292   -1.19%  -3.73%  -10.43%  -13.87%
12/31/2013 $25.70   12,450,050  $319,966,285   -0.54%  -2.95%  -10.92%  -14.33%
1/31/2014 $25.87   11,900,050  $307,854,294   0.66%  -1.07%  -10.33%  -13.77%
2/28/2014 $27.80   12,350,050  $343,331,390   7.46%  7.59%  -3.64%  -7.33%
3/31/2014 $28.19   12,350,050  $348,147,910   1.40%  9.69%  9.69%  -6.03%
4/30/2014 $28.74   12,500,050  $359,251,437   1.95%  11.09%  11.83%  -4.20%
5/31/2014 $27.78   12,800,050  $355,585,389   -3.34%  -0.07%  8.09%  -7.40%
6/30/2014 $27.91   12,900,050  $360,040,396   0.47%  -0.99%  8.60%  -6.97%
7/31/2014 $26.62   13,150,050  $350,054,331   -4.62%  -7.38%  3.58%  -11.27%
8/31/2014 $26.25   13,150,050  $345,188,813   -1.39%  -5.51%  2.14%  -12.50%
9/30/2014 $24.79   12,950,050  $321,031,740   -5.56%  -11.18%  -3.54%  -17.37%

                       
 
5 Year Performance Summary
 
 
 Date NAV  Total Shares  Net Assets  1 Month  3 Months  Year to Date  Since Inception 
 4/30/2010 $25.76   9,650,050  $248,585,288   2.75%  2.67%  -1.75%  -14.13%
 5/31/2010 $24.50   9,650,050  $236,426,225   -4.89%  -4.56%  -6.56%  -18.33%
 6/30/2010 $24.92   9,750,050  $242,971,246   1.71%  -0.60%  -4.96%  -16.93%
 7/31/2010 $26.42   10,200,050  $269,485,321   6.02%  2.56%  0.76%  -11.93%
 8/31/2010 $26.21   11,250,050  $294,863,811   -0.79%  6.98%  -0.04%  -12.63%
 9/30/2010 $28.14   11,100,050  $312,355,407   7.36%  12.92%  7.32%  -6.20%
 10/31/2010 $29.76   13,000,050  $386,881,488   5.76%  12.64%  13.50%  -0.80%
 11/30/2010 $29.67   14,900,050  $442,084,484   -0.30%  13.20%  13.16%  -1.10%
 12/31/2010 $32.88   16,250,050  $534,301,644   10.82%  16.84%  25.40%  9.60%
 1/31/2011 $34.01   17,650,050  $600,278,201   3.44%  14.28%  3.44%  13.37%
 2/28/2011 $35.16   19,600,050  $689,137,758   3.38%  18.50%  6.93%  17.20%
 3/31/2011 $35.20   23,250,050  $818,401,760   0.11%  7.06%  7.06%  17.33%
 4/30/2011 $36.34   23,800,050  $864,893,817   3.24%  6.85%  10.52%  21.13%
 5/31/2011 $34.87   22,000,050  $767,141,744   -4.05%  -0.82%  6.05%  16.23%
 6/30/2011 $33.59   21,850,050  $733,943,180   -3.67%  -4.57%  2.16%  11.97%
 7/31/2011 $34.48   21,000,050  $724,081,724   2.65%  -5.12%  4.87%  14.93%
 8/31/2011 $35.23   20,700,050  $729,262,762   2.18%  1.03%  7.15%  17.43%
 9/30/2011 $30.46   20,600,050  $627,498,123   -13.54%  -9.32%  -7.36%  1.54%
 10/31/2011 $32.21   19,200,050  $618,433,611   5.74%  -6.58%  -2.04%  7.37%
 11/30/2011 $31.12   20,300,050  $631,737,556   -3.38%  -11.67%  -5.35%  3.73%
 12/31/2011 $29.96   19,400,050  $581,225,498   -3.73%  -1.64%  -8.88%  -0.13%
 1/31/2012 $31.29   19,550,050  $611,721,065   4.44%  -2.86%  4.44%  4.30%
 2/29/2012 $31.70   21,350,050  $676,796,585   1.31%  1.86%  5.81%  5.67%
 3/31/2012 $30.35   21,250,050  $644,939,018   -4.26%  1.30%  1.30%  1.17%
 4/30/2012 $29.51   20,550,050  $606,431,976   -2.77%  -5.69%  -1.50%  -1.63%
 5/31/2012 $26.95   18,300,050  $493,186,348   -8.68%  -14.98%  -10.05%  -10.17%
 6/30/2012 $28.43   18,000,050  $511,741,422   5.49%  -6.33%  -5.11%  -5.23%
 7/31/2012 $29.65   17,100,050  $507,016,483   4.29%  0.47%  -1.03%  -1.17%
 8/31/2012 $30.35   16,650,050  $505,329,018   2.36%  12.62%  1.30%  1.17%
 9/30/2012 $30.57   16,900,050  $516,634,529   0.72%  7.53%  2.04%  1.90%
 10/31/2012 $29.56   16,600,050  $490,697,478   -3.30%  -0.30%  -1.34%  -1.47%
 11/30/2012 $29.83   16,750,050  $499,653,992   0.91%  -1.71%  -0.43%  -0.57%
 12/31/2012 $28.85   16,450,050  $474,583,943   -3.29%  -5.63%  -3.70%  -3.83%
 1/31/2013 $29.50   16,450,050  $485,276,475   2.25%  -0.20%  2.25%  -1.67%
 2/28/2013 $28.21   16,500,050  $465,466,411   -4.37%  -5.43%  -2.22%  -5.97%
 3/31/2013 $28.26   17,000,050  $480,421,413   0.18%  -2.05%  -2.05%  -5.80%
 4/30/2013 $27.65   16,800,050  $464,521,383   -2.16%  -6.27%  -4.16%  -7.83%
 5/31/2013 $26.89   16,200,050  $435,619,345   -2.75%  -4.68%  -6.79%  -10.37%
 6/30/2013 $25.76   15,700,050  $404,433,288   -4.20%  -8.85%  -10.71%  -14.13%
 7/31/2013 $26.01   14,900,050  $387,550,301   0.97%  -5.93%  -9.84%  -13.30%
 8/31/2013 $26.84   13,550,050  $363,683,342   3.19%  -0.19%  -6.97%  -10.53%
 9/30/2013 $26.48   13,400,050  $354,833,324   -1.34%  2.80%  -8.21%  -11.73%
 10/31/2013 $26.15   13,300,050  $347,796,308   -1.25%  0.54%  -9.36%  -12.83%
 11/30/2013 $25.84   13,300,050  $343,673,292   -1.19%  -3.73%  -10.43%  -13.87%
 12/31/2013 $25.70   12,450,050  $319,966,285   -0.54%  -2.95%  -10.92%  -14.33%
 1/31/2014 $25.87   11,900,050  $307,854,294   0.66%  -1.07%  -10.33%  -13.77%
 2/28/2014 $27.80   12,350,050  $343,331,390   7.46%  7.59%  -3.64%  -7.33%
 3/31/2014 $28.19   12,350,050  $348,147,910   1.40%  9.69%  9.69%  -6.03%
 4/30/2014 $28.74   12,500,050  $359,251,437   1.95%  11.09%  11.83%  -4.20%
 5/31/2014 $27.78   12,800,050  $355,585,389   -3.34%  -0.07%  8.09%  -7.40%
 6/30/2014 $27.91   12,900,050  $360,040,396   0.47%  -0.99%  8.60%  -6.97%
 7/31/2014 $26.62   13,150,050  $350,054,331   -4.62%  -7.38%  3.58%  -11.27%
 8/31/2014 $26.25   13,150,050  $345,188,813   -1.39%  -5.51%  2.14%  -12.50%
 9/30/2014 $24.79   12,950,050  $321,031,740   -5.56%  -11.18%  -3.54%  -17.37%
 10/31/2014 $24.73   12,750,050  $315,308,737   -0.24%  -7.10%  -3.77%  -17.57%
 11/30/2014 $23.97   12,250,050  $293,633,699   -3.07%  -8.69%  -6.73%  -20.10%
 12/31/2014 $22.81   11,700,050  $266,878,141   -4.84%  -7.99%  -11.25%  -23.97%
 1/31/2015 $21.83   11,600,050  $253,229,092   -4.30%  -11.73%  -15.06%  -27.23%
 2/28/2015 $22.21   11,400,050  $253,195,111   1.74%  -7.34%  -13.58%  -25.97%
 3/31/2015 $21.20   11,500,050  $243,801,060   -4.55%  -7.06%  -17.51%  -29.33%
 
(LINE CHART)(LINE GRAPH)
 
(LINE CHART)(LINE GRAPH)
 
The Fund and the Master Fund seek to track changes in the Thomson Reuters Equal Weight Continuous Commodity Index-Total Return, or the “Index”, over time. For the nine-monthsthree-months ended September 30,March 31, 2015 and March 31, 2014, and September 30, 2013, the Fund’s Net Asset Value underperformed the Index by 0.75%0.23% and 0.55%0.31%, respectively.
 
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.
 
Introduction
The Fund aims to track the Thomson Reuters Equal Weight Continuous Commodity Index, which consists of seventeen commodities and is rebalanced daily. Due to the rebalancing, the Fund on a given day holds an equal amount of each of the seventeen index components. Thus, the exposure of the Fund to a given component remains over time very close to 1/17, or 5.88%. Unless the Index Owner (Thomson Reuters) changes the construction of the Index, the Fund will maintain the same allocation to the same commodities. The value of the Shares relates directly to the value of the commodity futures and other assets held by the Master Fund and fluctuations in the price of these assets could materially adversely affect an investment in the Shares. The Shares are designed to reflect, as closely as possible, the performance of the Index through the Master Fund’s portfolio of exchange-traded futures on the Index Commodities. The value of the Shares relate directly to the value of the portfolio, less the liabilities (including estimated accrued but unpaid expenses) of the Fund and the Master Fund. The price of the Index Commodities may fluctuate widely based on many factors. Some of those factors are:
 
 ●Changing supply and demand relationships;
   
 ●General economic activities and conditions;
   
 ●Weather and other environmental conditions;
   
 ●Acts of God;
   
 ●Agricultural, fiscal, monetary and exchange control programs and policies of governments;
   
 ●National and international political and economic events and policies;
   
 ●Changes in rates of inflation; or
   
 ●The general emotions and psychology of the marketplace, which at times can be volatile and unrelated to other more tangible factors.
   
 ●Acts of international or domestic terrorism.
 
In addition to the factors set forth above, each commodity has risks that are inherent in the investment in such commodity.
 
Metals Commodities: Price movements in futures contracts held by the Master Fund in metals commodities such as gold, silver, platinum and copper are affected by many specific factors. Some of these metal specific factors include, but are not limited to:
 
 ●A change in economic conditions, such as a recession, can adversely affect the price of both industrial and precious metals. An economic downturn may have a negative impact on the usage and demand of metals which may result in a loss for the Master Fund.
   
 ●A sudden shift in political conditions of the world’s leading metal producers may have a negative effect on the global pricing of metals.
   
 ●An increase in the hedging of precious metals may result in the price of precious metals to decline.
   
 ●Changes in global supply and demand for industrial and precious metals.
   
 ●The price and quantity of imports and exports of industrial and precious metals.
   
 
●
Technological advances in the processing and mining of industrial and precious metals.Possiblemetals.
●Possible adverse effects on commodity markets from new regulations and required disclosures of public companies regarding “Conflict Minerals”.
 
Agricultural Commodities: Price movements in futures contracts held by the Master Fund in agricultural commodities, such as wheat, corn, soybean oil, cotton, cocoa, sugar, coffee, and soybeans, are affected by many factors. Some of these agricultural specific factors include, but are not limited to:
 
 ●Farmer planting decisions, general economic, market and regulatory factors.
   
 ●Weather conditions, including hurricanes, tornadoes, storms and droughts, may have a material adverse effect on crops, live cattle, live hogs and lumber, which may result in significant fluctuations in prices in such commodities.
   
 ●Changes in global supply and demand for agricultural products.
   
 ●The price and quantity of imports and exports of agricultural commodities.
   
 ●Political conditions, including embargoes and war, in or affecting agricultural production, imports and exports.
   
 ●Technological advances in agricultural production.
   
 ●The price and availability of alternative agricultural commodities.
 
Energy Commodities: Price movements in futures contracts held by the Master Fund in energy commodities, such as crude oil, heating oil and natural gas, are subject to risks due to frequent and often substantial fluctuations in energy commodity prices. In the past, the prices of natural gas and crude oil have been extremely volatile, and the Managing Owner expects this volatility to continue. The markets and prices for energy commodities are affected by many factors. Some of those factors include, but are not limited to:
 
 ●Changes in global supply and demand for oil and natural gas.
   
 ●The price and quantity of imports and exports of oil and natural gas.
   
 ●Political conditions, including embargoes and war, in or affecting other oil producing activities.
   
 ●The level of global oil and natural gas exploration and production.
   
 ●
The level of global oil and natural gas inventories, production or pricing.
 ●Weather conditions.
   
 ●Technological advances affecting energy consumption.
   
 ●The price and availability of alternative fuels.
 
None of these factors can be controlled by the Managing Owner. Even if current and correct information as to substantially all factors are known or thought to be known, prices still will not always react as predicted. The profitability of the Fund and the Master Fund will depend on whether the Master Fund’s commodities portfolio increases in value over time. If the value increases, the Fund will only be profitable if such increases exceed the fees and expenses of the Fund. If these values do not increase, the Fund will not be profitable and will incur losses.
 
Quantitative Forward-Looking Statements
 
Quantifying the Fund’s Trading Risk
The following qualitative disclosures regarding the Fund’s risk exposures — except for those disclosures that are statements of historical fact — constitute forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act. The Fund’s primary market risk exposures are subject to numerous uncertainties, contingencies and risks. Government interventions, defaults and expropriations, illiquid markets, the emergence of dominant fundamental factors, political upheavals, changes in historical price relationships, an influx of new market participants, increased regulation and many other factors could result in material losses as well as in material changes to the risk exposures of the Fund. There can be no assurance that the Fund’s current market exposure will not change materially. Investors may lose all or substantially all of their investment in the Fund.
 
The Fund’s Risk by Market Sector
The following were the primary trading risk exposures of the Fund as of September 30, 2014March 31, 2015 by market sector.
Grains23.53%Corn, Soybeans, Wheat, Soy Oil
   
Livestock11.76%Hogs, Cattle
   
Metals23.53%Gold, Silver, Platinum, Copper
   
Energy17.65%Crude Oil, Natural Gas, NY Harbor ULSD (formerly called Heating Oil)
   
Softs23.53%Coffee, Cocoa, Sugar, Cotton
 
Non-Trading Risk
The Fund invests its excess funds in short-term U.S. Treasury bills. These instruments are not coupon-bearing and therefore trade at a discount to their value at maturity. The Fund expects that the market risk of holding these investments is not material.
 
Qualitative Disclosures Regarding Non-Trading Risk Exposures
The Fund is unaware of any (i) anticipated known demands, commitments or capital expenditures; (ii) material trends, favorable or unfavorable, in its capital resources; or (iii) trends or uncertainties that will have a material effect on operations.
 
Qualitative Disclosures Regarding Means of Managing Risk Exposure
Under ordinary circumstances, the Managing Owner’s discretionary power is limited to determining whether the Fund will make a distribution. Under emergency or extraordinary circumstances, the Managing Owner’s discretionary powers increase, but remain circumscribed. These special circumstances, for example, include the unavailability of the Index or certain natural or man-made disasters. The Managing Owner does not apply risk management techniques. The Fund initiates positions only on the “long” side of the market and does not employ “stop-loss” techniques.
 
ITEM 4. CONTROLS AND PROCEDURES.
Disclosure controls and procedures
 
Under the supervision and with the participation of the management of the Managing Owner, including its chief executive officer and principal financial officer, the Fund carried out an evaluation of the effectiveness of the design and operation of its disclosure controls and procedures (as defined in Rule 13a-15(e) of the Securities Exchange Act of 1934). Based upon that evaluation, the chief executive officer and principal financial officer concluded that the Fund’s disclosure controls and procedures with respect to the Fund were effective as of the end of the period covered by this report.
 
Changes in Internal Control over Financial Reporting
The Fund commenced trading on January 24, 2008 and began to exercise its internal control over financial reporting thereafter. The Fund’s investing activity is limited to the purchase and sale of commodity futures contracts and of short-term U.S. Treasury bills. Futures transactions are made through Morgan Stanley, the Commodity Broker, which provides the Fund with statements on a daily basis. The Bank of New York Mellon Corporation, the Fund’s Administrator, reconciles the reports from Morgan Stanley with its own records of Fund transactions. In addition, the Managing Owner each day reconciles its own records with those of Morgan Stanley and the Bank of New York Mellon Corporation.
 
During the three months ended September 30, 2014,March 31, 2015, the Fund made no changes to its internal control over financial reporting that materially affected, or are reasonably likely to materially affect, its internal control over financial reporting.
PART II. OTHER INFORMATION
 
Item 1. Legal Proceedings.

     Not Applicable.

Item 1A. Risk Factors.

There are no material changes from risk factors as previously disclosed in the Annual Report on Form 10-K for the year ended December 31, 2013,2014, filed March 4, 2014.6, 2015.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.
   
(a) None.
     
(b) For the three monthsthree-months ended September 30, 2014, 200,000March 31, 2015, 450,000 Limited Shares were redeemed for $4,986,421.13$10,086,172 and 250,000 Limited Shares were created for $6,926,147.35.$5,487,716. On September 30, 2014, 12,950,000March 31, 2015, 11,500,000 Limited Shares of the Fund were outstanding for a market capitalization of $320,512,500,$243,685,000, based on September 30, 2014March 31, 2015 closing price of $24.75$21.19 on the NYSE Arca.
   
(c) The following table shows the number of Shares redeemed (purchased back by the Fund, or “Issuer”) from Authorized Participants for each month during the quarter ended September 30, 2014March 31, 2015:
       
Issuer Purchases of Equity Securities
           Maximum Number (or 
        Total Number of  Approximate Dollar 
        Shares Purchased as  Value) of Shares That 
        Part of Publicly  May Yet Be Purchased 
  Total Number of   Average Price    Announced Plans or  Under the Plans or 
Period Shares Redeemed Paid per Share   Programs     Programs 
July 1, 2014 to July 31, 2014  -  $-   N/A   N/A 
August 1, 2014 to August 31, 2014  -  $-   N/A   N/A 
September 1, 2014 to September 30, 2014  200,000  $24.93   N/A   N/A 
Total  200,000  $24.93         
Issuer Purchases of Equity Securities
 
           Maximum Number (or 
        Total Number of  Approximate Dollar 
        Shares Purchased as  Value) of Shares That 
        Part of Publicly  May Yet Be Purchased 
  Total Number of Average Price  Announced Plans or  Under the Plans or 
Period Shares Redeemed Paid per Share  Programs  Programs 
January 1, 2015 to January 31, 2015  100,000  $22.27   N/A   N/A 
February 1, 2015 to February 28, 2015  350,000  $22.46   N/A   N/A 
March 1, 2015 to March 31, 2015  -  $-   N/A   N/A 
Total  450,000  $-         
Item 3. Defaults Upon Senior Securities.
     None.

Item 4. Mine Safety Disclosures
     None.

Item 5. Other Information.
     None.
 
Item 6. Exhibits.
   
Exhibit  
Number Description of Document
   
31.1 Certification of Chief Executive Officer pursuant to Exchange Act Rules 13a-14 and 15d-14 (filed herewith)
   
31.2 Certification of Chief Executive Officer pursuant to Exchange Act Rules 13a-14 and 15d-14 (filed herewith)
   
31.3 Certification of Principal Financial Officer pursuant to Exchange Act Rules 13a-14 and 15d-14 (filed herewith)
   
31.4 
Certification of Principal Financial Officer pursuant to Exchange Act Rules 13a-14 and 15d-14 (filed herewith)
 
32.1 Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (furnished herewith)
   
32.2 Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (furnished herewith)
   
32.3 Certification of Principal Financial Officer pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (furnished herewith)
   
32.4 Certification of Principal Financial Officer pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (furnished herewith)

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SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
   
 GreenHaven Continuous Commodity Index Fund
  
 By:
GreenHaven Commodity Services LLC,
its Managing Owner
   
 By:
/s/ Ashmead Pringle
Name: Ashmead Pringle
  Title: Chief Executive Officer
   
Dated: November 6, 2014Date: May 13, 2015By:
/s/ Cooper Anderson
Name: Cooper Anderson
  Title: Principal Financial Officer
GreenHaven Continuous Commodity Index Master Fund
   
 
GreenHaven Continuous Commodity Index Master Fund
By: 
By:
GreenHaven Commodity Services LLC,
its Managing Owner
   
 By:
/s/ Ashmead Pringle
Name: Ashmead Pringle
  Title: Chief Executive Officer
   
Dated: November 6, 2014Date: May 13, 2015By:
/s/ Cooper Anderson
Name: Cooper Anderson
  Title: Principal Financial Officer
 
EXHIBIT INDEX
     
Exhibit   Page
Number Description of Document Number
     
31.1 Certification of Chief Executive Officer pursuant to Exchange Act Rules 13a-14 and 15d-14 (filed herewith) E-1
     
31.2 Certification of Chief Executive Officer pursuant to Exchange Act Rules 13a-14 and 15d-14 (filed herewith) E-2
     
31.3 Certification of Principal Financial Officer pursuant to Exchange Act Rules 13a-14 and 15d-14 (filed herewith) E-3
     
31.4 
Certification of Principal Financial Officer pursuant to Exchange Act Rules 13a-14 and 15d-14 (filed herewith)
 E-4
32.1 Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (furnished herewith) E-5
     
32.2 Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (furnished herewith) E-6
     
32.3 Certification of Principal Financial Officer pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (furnished herewith) E-7
     
32.4 Certification of Principal Financial Officer pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (furnished herewith) E-8
 
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