Blackrock Resources & Commodities Strategy Trust
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- BlackRock Resources & Commodities Strategy Trust (NYSE: BCX) is a non-diversified, closed-end management investment trust that seeks high current income and current gains, with a secondary objective of capital appreciation. The Trust invests at least 80% of its total assets in equity securities of commodity and natural resources companies, including those in oil, gas and consumable fuels; metals and mining; agriculture; and chemicals; derivatives with returns linked to commodity or natural resources companies or their underlying price movements; and up to 20% in related debt securities or non-sector securities, with an emphasis on option writing strategies. Key portfolio holdings include Shell PLC, Exxon Mobil Corp, Wheaton Precious Metals Corp, Chevron Corp, Anglo American PLC, Barrick Gold Corp, Vale SA, Nutrien Ltd, Corteva Inc, and Newmont Corp. Launched by BlackRock, Inc. in 2008 under the management of BlackRock Advisors, LLC and BlackRock International Limited, with portfolio managers Christopher M. Accettella, Thomas Holl, Alastair Bishop, and Kyle McClements, the Trust trades on the New York Stock Exchange and operates globally through investments in U.S. and international public equity markets focused on natural resources sectors. Headquartered in Wilmington, Delaware, at 100 Bellevue Parkway, it is part of BlackRock's broader closed-end funds lineup sponsored by the firm founded in 1988 and based in New York City. In recent developments, the Trust completed oversubscribed tender offers in May 2025 and November 2024, each repurchasing up to 2.5% of its outstanding common shares on a pro rata basis at 98% of NAV, demonstrating shareholder engagement and liquidity management. BlackRock announced distribution increases for certain closed-end funds including BCX, enhancing its high-yield profile amid commodity market dynamics.[web:stockanalysis] The Trust maintains a gross expense ratio of 1.10%, comprising a 1.00% management fee and 0.10% other expenses, with no interest or acquired fund fees as of the latest annual report.