BlackRock Commodity Strategies Portfolio
BICSX
NASDAQ11.35
USD
-0.04
- -
ISIN
US0919366668
CUSIP
057008882
Return %
Stock
S&P500
1Y
20.11
20.98
3Y
26.67
70.79
5Y
22.70
73.45
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Mary Ellen Stanek
- Sector
- Financial Services
- Industry
- Asset Management
- Address
- WILMINGTON DE 19809 Milwaukee WI United States of America 53202
- IPO Date
- Oct 4, 2011
- Website
- bairdfunds.com
- Similar Companies
- Business
- BlackRock Commodity Strategies Portfolio (BICSX) is an open-end mutual fund managed by BlackRock Advisors, LLC that seeks total return through investments in commodity-linked derivatives and equity securities of commodity-related companies. The fund employs two principal strategies, allocating approximately 50% of its assets to each under normal circumstances: one strategy invests in commodity-linked derivatives, including futures, options on futures, swap agreements, commodity-linked notes and forward foreign currency exchange contracts, providing exposure to commodities such as energy products, metals and agricultural products without direct physical ownership; the other strategy targets equity securities issued by commodity-related companies engaged in mining, energy, agriculture, exploration, production, refinement, processing, transportation, distribution or marketing of commodities, as well as service providers, equipment manufacturers and engineering, procurement and construction firms in the commodities sector. To meet collateral requirements and manage cash, the fund also holds investment-grade short-term fixed-income securities, including U.S. Treasury bills; it benchmarks performance against the Bloomberg Commodity Index Total Return and may invest directly or indirectly through a wholly-owned Cayman Islands subsidiary, BlackRock Cayman Commodity Strategies Fund, Ltd., limited to 25% of total assets. Launched on October 3, 2011, with institutional shares, the fund is domiciled in the United States and headquartered at BlackRock's principal offices in New York. It operates globally with no geographic or market capitalization restrictions, investing in U.S. and non-U.S. companies across developed and emerging markets; as of mid-2025, portfolio exposures include significant allocations to North America (primarily United States and Canada), Europe (United Kingdom, Ireland, Finland, France), Australia, South Africa and Brazil, with top holdings such as Corteva Inc., Nutrien Ltd., Exxon Mobil Corp., Smurfit WestRock PLC and Agnico Eagle Mines Ltd. The fund maintains a diversified portfolio across commodities sectors, with approximately 52% net exposure to energy, 29% to agriculture, 21% to metals and minimal other allocations as of June 2025, complemented by fixed-income holdings at 93% government securities; it targets institutional and other investors seeking broad commodity market trends and serves as a complement to traditional equity and fixed-income portfolios. Recent developments include BlackRock's ongoing contractual fee waivers and expense reimbursements through June 30, 2026, capping the net expense ratio for institutional shares at 0.72% (excluding certain expenses like acquired fund fees); these arrangements waive management fees on assets invested in affiliated BlackRock funds and money market funds, alongside limits on total annual operating expenses. The fund has sustained portfolio turnover around 53-106% in recent fiscal years amid volatile commodity markets, with assets under management reaching approximately $817 million as of December 2025; no major acquisitions, partnerships or structural changes specific to BICSX were reported in the last 1-2 years, though BlackRock broadly expanded via deals like Global Infrastructure Partners and HPS Investment Partners to bolster alternative assets. Top performers in recent holdings reflect resilience in agriculture and energy amid shifting global supply dynamics.