# EDGAR Filing Document

**Accession Number:** 0000766555
**File Stem:** 0001410368-26-066811
**Filing Date:** 2026-6
**Character Count:** 18968
**Document Hash:** c55b5ec7cf14ccbfd1e85335dbd6cbdd
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-066811.hdr.sgml**: 20260625

**ACCESSION NUMBER**: 0001410368-26-066811

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260430

**FILED AS OF DATE**: 20260625

**DATE AS OF CHANGE**: 20260625

**PERIOD START**: 20260430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BLACKROCK NATURAL RESOURCES TRUST
- **CENTRAL INDEX KEY:** 0000766555

**ORGANIZATION NAME:**
- **EIN:** 136857277
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0731

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04282
- **FILM NUMBER:** 261121738

**BUSINESS ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809
- **BUSINESS PHONE:** 800-441-7762

**MAIL ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MERRILL LYNCH NATURAL RESOURCES TRUST /
- **DATE OF NAME CHANGE:** 20001031

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MERRILL LYNCH GLOBAL RESOURCES TRUST /
- **DATE OF NAME CHANGE:** 19940325

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MERRILL LYNCH NATURAL RESOURCES TRUST
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### BLACKROCK NATURAL RESOURCES TRUST (Series ID: S000002176)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000005583 | Investor A    |  |
| C000005585 | Investor C    |  |
| C000005586 | Institutional |  |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** BlackRock Natural Resources Trust

- **b. Investment Company Act file number:** 811-04282

- **c. CIK number of Registrant:** 0000766555

- **d. LEI of Registrant:** MGCZP3KOJ3GY627IHK03

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 100 Bellevue Parkway

  - **City:** Wilmington

  - **State:** DE

  - **Foreign country:** US

  - **Zip / Postal Code:** 19809

  - **Telephone number:** 800-441-7762

**Item A.2. Information about the Series.**

- **a. Name of Series:** BlackRock Natural Resources Trust

- **b. EDGAR series identifier (if any):** S000002176

- **c. LEI of Series:** MGCZP3KOJ3GY627IHK03

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-04-30

- **b. Date as of which information is reported:** 2026-04-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $211361245.73

**Total Liabilities:** $450440.96

**Net Assets:** $210910804.77

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000005583 | 9.06%                | -2.57%               | -0.27%               |
| Class ID C000005586 | 9.08%                | -2.55%               | -0.22%               |
| Class ID C000005585 | 8.99%                | -2.61%               | -0.33%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $4892676.83              | $12305589.66                               |
| Month 2  | $1031791.08              | $-6889889.94                               |
| Month 3  | $489575.09               | $-921978.43                                |

### Schedule of Portfolio Investments

| Name                          | Title                                                   | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Zijin Mining Group Co Ltd     | Zijin Mining Group Co Ltd                               | CUSIP: 000000000<br>LEI: 836800JRNL2393Z2I561 | Long             | EC               | CORP              | CN        |    606000 | NS      | $2814263.07   | 1.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Valero Energy Corp            | Valero Energy Corp                                      | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Long             | EC               | CORP              | US        |      9342 | NS      | $2359602.36   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Royal Gold Inc                | Royal Gold Inc                                          | CUSIP: 780287108<br>LEI: 5493001NGRU6SFL04184 | Long             | EC               | CORP              | US        |     25096 | NS      | $5856904.48   | 2.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Permian Resources Corp        | Permian Resources Corp                                  | CUSIP: 71424F105<br>LEI: 529900NXUJPOKU7OJ511 | Long             | EC               | CORP              | US        |    101385 | NS      | $2191943.70   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Anglogold Ashanti Plc         | Anglogold Ashanti Plc                                   | CUSIP: 000000000<br>LEI: 2138005YDSA7A82RNU96 | Long             | EC               | CORP              | GB        |     29018 | NS      | $2719857.14   | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Shell PLC                     | Shell PLC                                               | CUSIP: 000000000<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |    420290 | NS      | $19109228.69  | 9.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Nutrien Ltd                   | Nutrien Ltd                                             | CUSIP: 67077M108<br>LEI: 5493002QQ7GD21OWF963 | Long             | EC               | CORP              | CA        |    128166 | NS      | $9740616.00   | 4.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Williams Cos Inc/The          | Williams Cos Inc/The                                    | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |     31449 | NS      | $2399873.19   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Corteva Inc                   | Corteva Inc                                             | CUSIP: 22052L104<br>LEI: 549300WZN9I2QKLS0O94 | Long             | EC               | CORP              | US        |     94382 | NS      | $7645885.82   | 3.63%             |  |  |  | No            |                  1 | On Loan: No      |
| TotalEnergies SE              | TotalEnergies SE                                        | CUSIP: 000000000<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |     32622 | NS      | $3032982.63   | 1.44%             |  |  |  | No            |                  2 | On Loan: No      |
| BlackRock Liquidity Funds     | BlackRock Liquidity Funds: T-Fund, Institutional Shares | CUSIP: 09248U718<br>LEI: 5493007YVNX55LTRQ706 | Long             | STIV             | RF                | US        |   2918649 | NS      | $2918648.70   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Suncor Energy Inc             | Suncor Energy Inc                                       | CUSIP: 867224107<br>LEI: 894500XO86FKXQGPYV71 | Long             | EC               | CORP              | CA        |    139192 | NS      | $9538036.12   | 4.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Packaging Corp of America     | Packaging Corp of America                               | CUSIP: 695156109<br>LEI: 549300XZP8MFZFY8TJ84 | Long             | EC               | CORP              | US        |     26769 | NS      | $5713843.05   | 2.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmont Corp                  | Newmont Corp                                            | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |     18881 | NS      | $2097490.29   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp                  | Chevron Corp                                            | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     63648 | NS      | $12303794.88  | 5.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Linde PLC                     | Linde PLC                                               | CUSIP: 000000000<br>LEI: 5299003QR1WT0EF88V51 | Long             | EC               | CORP              | IE        |      5088 | NS      | $2549800.32   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp              | Exxon Mobil Corp                                        | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |    109990 | NS      | $16974756.70  | 8.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Liquide SA                | Air Liquide SA                                          | CUSIP: 000000000<br>LEI: 969500MMPQVHK671GT54 | Long             | EC               | CORP              | FR        |      7362 | NS      | $1583861.85   | 0.75%             |  |  |  | No            |                  2 | On Loan: No      |
| ArcelorMittal SA              | ArcelorMittal SA                                        | CUSIP: 03938L203<br>LEI: 2EULGUTUI56JI9SAL165 | Long             | EC               | CORP              | LU        |     47261 | NS      | $2703801.81   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Martin Marietta Materials Inc | Martin Marietta Materials Inc                           | CUSIP: 573284106<br>LEI: 5299005MZ4WZECVATV08 | Long             | EC               | CORP              | US        |      3544 | NS      | $2193984.08   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Cameco Corp                   | Cameco Corp                                             | CUSIP: 13321L108<br>LEI: N4BHALMXL3GMZKCUON55 | Long             | EC               | CORP              | CA        |     22608 | NS      | $2781688.32   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Bunge Global SA               | Bunge Global SA                                         | CUSIP: 000000000<br>LEI: 254900IVXSV9K0B7PO26 | Long             | EC               | CORP              | CH        |     46683 | NS      | $5932008.81   | 2.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Novonesis Novozymes B         | Novonesis Novozymes B                                   | CUSIP: 000000000<br>LEI: 529900T6WNZXD2R3JW38 | Long             | EC               | CORP              | DK        |     52084 | NS      | $3200339.72   | 1.52%             |  |  |  | No            |                  2 | On Loan: No      |
| Gazprom PJSC                  | Gazprom PJSC                                            | CUSIP: 000000000<br>LEI: 213800FD9J2IHTA7YX78 | Long             | EC               | CORP              | RU        |   1253804 | NS      | $167.29       | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Rio Tinto PLC                 | Rio Tinto PLC                                           | CUSIP: 000000000<br>LEI: 213800YOEO5OQ72G2R82 | Long             | EC               | CORP              | GB        |     59215 | NS      | $5965111.71   | 2.83%             |  |  |  | No            |                  2 | On Loan: No      |
| Polyus PJSC                   | Polyus PJSC                                             | CUSIP: 000000000<br>LEI: 549300FUXVT7TF6ZKV71 | Long             | EC               | CORP              | RU        |    230640 | NS      | $3.08         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| TechnipFMC PLC                | TechnipFMC PLC                                          | CUSIP: 000000000<br>LEI: 549300D5I93QWCJTCK36 | Long             | EC               | CORP              | GB        |     44924 | NS      | $3394906.68   | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Freeport-McMoRan Inc          | Freeport-McMoRan Inc                                    | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |     18849 | NS      | $1089095.22   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Vale SA                       | Vale SA                                                 | CUSIP: 91912E105<br>LEI: 254900SMTWBX7RU2SR20 | Long             | EC               | CORP              | BR        |    424757 | NS      | $6949024.52   | 3.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Subsea 7 SA                   | Subsea 7 SA                                             | CUSIP: 000000000<br>LEI: 222100AIF0CBCY80AH62 | Long             | EC               | CORP              | LU        |     87567 | NS      | $3154493.70   | 1.50%             |  |  |  | No            |                  2 | On Loan: No      |
| Deere & Co                    | Deere & Co                                              | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |      5064 | NS      | $2987101.68   | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Mondi PLC                     | Mondi PLC                                               | CUSIP: 000000000<br>LEI: 213800LOZA69QFDC9N34 | Long             | EC               | CORP              | GB        |    165100 | NS      | $1705715.88   | 0.81%             |  |  |  | No            |                  2 | On Loan: No      |
| Valterra Platinum Ltd         | Valterra Platinum Ltd                                   | CUSIP: 000000000<br>LEI: 529900RORCZ0E5S5FX81 | Long             | EC               | CORP              | ZA        |     20143 | NS      | $1622376.77   | 0.77%             |  |  |  | No            |                  2 | On Loan: No      |
| Norsk Hydro ASA               | Norsk Hydro ASA                                         | CUSIP: 000000000<br>LEI: 549300N1SDN71ZZ8BO45 | Long             | EC               | CORP              | NO        |    229656 | NS      | $2534601.88   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Barrick Mining Corp           | Barrick Mining Corp                                     | CUSIP: 06849F108<br>LEI: 0O4KBQCJZX82UKGCBV73 | Long             | EC               | CORP              | CA        |    175021 | NS      | $6885326.14   | 3.26%             |  |  |  | No            |                  1 | On Loan: No      |
| CF Industries Holdings Inc    | CF Industries Holdings Inc                              | CUSIP: 125269100<br>LEI: 529900CG8YAQFZ2JMV97 | Long             | EC               | CORP              | US        |     11617 | NS      | $1442831.40   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Wheaton Precious Metals Corp  | Wheaton Precious Metals Corp                            | CUSIP: 962879102<br>LEI: 549300XSFG5ZCGVYD886 | Long             | EC               | CORP              | CA        |     69992 | NS      | $8851188.32   | 4.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Glencore PLC                  | Glencore PLC                                            | CUSIP: 000000000<br>LEI: 2138002658CPO9NBH955 | Long             | EC               | CORP              | JE        |   1365143 | NS      | $10609658.62  | 5.03%             |  |  |  | No            |                  2 | On Loan: No      |
| UPM-Kymmene Oyj               | UPM-Kymmene Oyj                                         | CUSIP: 000000000<br>LEI: 213800EC6PW5VU4J9U64 | Long             | EC               | CORP              | FI        |     69674 | NS      | $2087630.66   | 0.99%             |  |  |  | No            |                  2 | On Loan: No      |
| Smurfit Westrock PLC          | Smurfit Westrock PLC                                    | CUSIP: 000000000<br>LEI: 635400EGSEOPDW2EXS14 | Long             | EC               | CORP              | IE        |     94577 | NS      | $3630811.03   | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Cemex SAB de CV               | Cemex SAB de CV                                         | CUSIP: 151290889<br>LEI: 549300RIG2CXWN6IV731 | Long             | EC               | CORP              | MX        |    224092 | NS      | $2756331.60   | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| CRH PLC                       | CRH PLC                                                 | CUSIP: 000000000<br>LEI: 549300MIDJNNTH068E74 | Long             | EC               | CORP              | IE        |     26629 | NS      | $3153406.18   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Anglo American PLC            | Anglo American PLC                                      | CUSIP: 000000000<br>LEI: 549300S9XF92D1X8ME43 | Long             | EC               | CORP              | GB        |    166319 | NS      | $8230283.01   | 3.90%             |  |  |  | No            |                  2 | On Loan: No      |
| ConocoPhillips                | ConocoPhillips                                          | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |     45700 | NS      | $5748146.00   | 2.73%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-26

**Name of Applicant:** BlackRock Natural Resources Trust

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer