BlackRock Natural Resources Trust
BlackRock Natural Resources Trust
Expense ratio
Net assets1
$184.07M
Holdings1
42
Category
International Equity
Return

Investment objective & strategy

As of Aug. 25, 2025 · prospectus

Objective. The investment objective of the BlackRock Natural Resources Trust (the Fund) is to seek long-term growth of capital and to protect the purchasing power of shareholders capital by investing in a portfolio of equity securities of domestic and foreign companies with substantial natural resource assets.

Strategy. The Fund seeks to achieve its objective by investing primarily in equity securities of companies with substantial natural resource assets. Under normal circumstances, the Fund will invest at least 80% of its assets in companies with substantial natural resource assets or in securities the value of which is related to the market value of some natural resource asset. Investments in derivatives are counted toward the Funds 80% policy to the extent that they provide investment exposure to the securities included within that policy or to one or more market risk factors associated with such securities. Equity securities include common stock, preferred stock, rights to subscribe for common stock, and derivative securities or instruments, such as options, the value of which … The Fund seeks to achieve its objective by investing primarily in equity securities of companies with substantial natural resource assets. Under normal circumstances, the Fund will invest at least 80% of its assets in companies with substantial natural resource assets or in securities the value of which is related to the market value of some natural resource asset. Investments in derivatives are counted toward the Funds 80% policy to the extent that they provide investment exposure to the securities included within that policy or to one or more market risk factors associated with such securities. Equity securities include common stock, preferred stock, rights to subscribe for common stock, and derivative securities or instruments, such as options, the value of which is based on a common stock or group of common stocks. The Fund may also purchase securities convertible into common stock. Natural resource assets include materials with economic value that are derived from natural sources, either directly or indirectly, such as precious metals (e.g., gold, silver and platinum), ferrous and nonferrous metals (e.g., iron, aluminum and copper), strategic metals (e.g., uranium and titanium), water, hydrocarbons (e.g., coal, oil and natural gas), timber land, underdeveloped real property and agricultural products (e.g., fertilizers and agricultural chemicals). The Fund normally invests in a portfolio consisting of companies in a variety of natural resource related sectors, such as energy, chemicals, oil, gas, paper, mining, steel or agricultural products. Under certain circumstances, however, the Fund may concentrate its investments in one or more of these sectors. In addition, the Fund will concentrate its investments in one or more issuers in the natural resources related industries. The Fund focuses on investments in companies that provide exposure to commodities where existing, and projected, capacity is forecast to approach levels that represent full utilization of that capacity based upon supply and demand forecasts for the commodity. The Fund will normally invest in both U.S. and non-U.S. companies, including companies located in emerging markets, and in securities denominated in both U.S. dollars and foreign currencies. The Fund may invest in securities of issuers with any market capitalization.

Top holdings

As of Jan. 31, 2026 · N-PORT
SecurityTickerValue% of fund
EXXON MOBIL CORP $13.33M 7.24%
SHELL PLC $12.81M 6.96%
CHEVRON CORP $9.30M 5.05%
GLENCORE PLC $8.65M 4.70%
NUTRIEN LTD $8.17M 4.44%
WHEATON PRECIOUS METALS CORP $7.67M 4.17%
Vale S.A. SPONS ADS REPR 1 COM NPV VALE US $7.46M 4.05%
BARRICK MINING CORP $7.23M 3.93%
NEWMONT CORP $6.94M 3.77%
BlackRock Cash Funds: Institutional, SL Agency Shares BISXX $6.31M 3.43%
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Allocation by sector

As of January 31, 2026 · N-PORT
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Portfolio moves

Oct 31, 2025 → Jan 31, 2026
Opened
5
Exited
7
Increased
24
Decreased
11
Unchanged
2

How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.

View portfolio moves →

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Advisers

As of April 30, 2025 · N-CEN
FirmRole
BlackRock International Limited Sub-adviser
BlackRock Advisors, LLC Adviser

Footnotes

  1. Net assets and holdings count as of January 31, 2026, from the fund's N-PORT filing.

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