BlackRock Resources & Commodities Strategy Trust: directors' dealings · United States · SEC (Form 4)

About BlackRock Resources & Commodities Strategy Trust

BlackRock Resources & Commodities Strategy Trust (BCX) is a U.S.-listed closed-end fund traded on the NYSE in the United States, rather than an operating company in the traditional industrial sense. For French-, Belgian- and Swiss-based investors, BCX should be viewed as a thematic listed vehicle managed by BlackRock, designed to deliver both current income and long-term capital appreciation through exposure to global resources and commodities. The trust was launched on March 30, 2011, and sits within BlackRock’s listed solutions platform focused on real assets and cyclical sectors. According to BlackRock’s latest published fund information, the trust had net assets of just over $1.0 billion in spring 2026 and held roughly 47 portfolio positions. BCX’s stated objective is to provide total return and income. To pursue that goal, the trust normally invests at least 80% of total assets in equity securities of commodity and natural resources companies, as well as derivatives or other instruments with exposure to those sectors. In practical terms, the portfolio provides diversified access to the resource economy, including energy, precious metals, mining, fertilizers, agricultural inputs and related materials businesses. Recent top holdings included Shell, Exxon Mobil, Chevron, Wheaton Precious Metals, Glencore, Nutrien, Suncor, Corteva, Barrick Mining and Anglo American, underscoring the fund’s broad global reach and its mix of integrated energy, mining and agricultural names. From a competitive standpoint, BCX is positioned as an income-oriented resources strategy with an active management overlay. BlackRock’s portfolio management approach, including the use of options and other derivatives, is intended to enhance distributable income while maintaining exposure to commodity-linked equities. The latest public materials showed a distribution rate in the mid-6% range and a persistent market discount to net asset value, a pattern that may appeal to investors seeking tactical exposure to resource cycles through a listed structure with daily market liquidity. Geographically, the trust is global rather than U.S.-only. Its holdings span the United States, the United Kingdom, Canada, Switzerland, the Netherlands and other international markets, which helps diversify single-country risk while increasing sensitivity to commodity prices, currency moves and macroeconomic cycles. A notable recent development in BlackRock’s May 2026 fund data was that net asset value had improved over the prior 52 weeks even as the shares continued to trade at a discount. In the context of SEC Form 4 insider-transaction monitoring, BCX remains a NYSE-listed U.S. fund focused on natural resources and commodities, with a profile centered on income, cyclicality and global diversification.