BlackRock Commodity Strategies Portfolio
BCSAX
NASDAQ- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- WILMINGTON DE 19809 Wilmington DE United States of America 19809
- IPO Date
- Oct 4, 2011
- CIK
- 0000844779
- Website
- blackrock.com
- Similar Companies
- Business
- BlackRock Commodity Strategies Portfolio (BCSAX) is an open-end mutual fund that seeks total return through investments in commodities and related equities. The fund, a series of BlackRock FundsSM managed by BlackRock Advisors, LLC, employs two principal strategies, allocating approximately 50% of its total assets to each under normal circumstances; one strategy invests in commodity-linked derivatives, including commodity-linked notes, swap agreements, commodity options, futures and options on futures, complemented by investment-grade short-term fixed-income securities for collateral and cash management, while the other strategy focuses on equity securities of commodity-related companies in sectors such as mining, energy, agriculture, natural resources, chemicals, oil products, coal, precious metals, forest products, agricultural chemicals and services, and related transportation, equipment manufacturing, engineering, procurement and construction activities. It benchmarks performance against the Bloomberg Commodity Index Total ReturnSM, maintains flexibility in futures maturities to optimize term structure exposure, invests without geographic or market capitalization restrictions across U.S. and non-U.S. companies including emerging markets, and may invest up to 25% of assets in BlackRock Cayman Commodity Strategies Fund, Ltd., a wholly-owned Cayman Islands subsidiary dedicated to commodity-linked derivatives. Founded on October 3, 2011 and domiciled in the United States with portfolio management oversight from BlackRock's Wilmington, Delaware headquarters, the fund targets institutional and retail investors seeking broad commodities exposure, with total net assets of approximately $717 million, a net expense ratio of 0.97% for Investor A shares, and a portfolio turnover rate of 106%. Recent developments include updated expense limitation arrangements by BlackRock, contractually capping total annual fund operating expenses after waivers and reimbursements at 0.97% for Investor A shares through June 30, 2026 to enhance cost efficiency amid volatile commodity markets, alongside portfolio adjustments reflecting strong contributions from commodity derivatives and top holdings such as United States Treasury Bills (47.75%), Corteva Inc., Nutrien Ltd., Smurfit WestRock PLC, and Exxon Mobil Corp., which comprised 58.61% of the portfolio as of late 2025. No major acquisitions, partnerships, name changes or strategic reorganizations have been reported in the last 1-2 years.