BlackRock Tactical Opportunities K (PBAKX)

Fund Assets	3.62B
Expense Ratio	0.59%
Min. Investment	$5,000,000
Turnover	108.00%
Dividend (ttm)	n/a
Dividend Yield	n/a
Dividend Growth	n/a
Payout Frequency	n/a
Ex-Dividend Date	n/a

Previous Close	18.27
YTD Return	15.39%
1-Year Return	14.24%
5-Year Return	49.77%
52-Week Low	15.64
52-Week High	18.44
Beta (5Y)	0.12
Holdings	1325
Inception Date	Aug 1, 2016

About PBAKX

BlackRock Tactical Opportunities Fund Class K is a macro trading mutual fund designed to seek total return through a diversified, tactical asset allocation approach. Managed by a team specializing in global tactical asset allocation, the fund utilizes a blend of systematic and discretionary investment processes, aiming to dynamically allocate among global equities, fixed income, derivatives, and cash equivalents. With a focus on both traditional and nontraditional data, the fund seeks to capture opportunities across various market environments while maintaining a conservative risk profile and avoiding concentrated bets. Its portfolio typically includes significant exposures to government securities, such as Euro Bund futures and U.S. Treasury bills, alongside select positions in major technology companies and currency derivatives. The fund is characterized by low correlation and volatility relative to traditional asset classes, making it a potential diversifier within broader portfolios. Managed under the BlackRock umbrella, it serves institutional and retirement-oriented investors seeking adaptable strategies for navigating complex market cycles.

• Fund Family: BlackRock
• Category: Macro Trading
• Performance Rating: High
• Risk Rating: Average
• Stock Exchange: Nasdaq
• Ticker Symbol: PBAKX
• Index: Bloomberg U.S. Treasury 1-3 Y TR

Performance

PBAKX had a total return of 14.24% in the past year, including dividends. Since the fund's inception, the average annual return has been 6.56%.

Top 10 Holdings

231.99% of assets

Name	Symbol	Weight
Cash Offset	n/a	115.89%
Long Gilt Future Sept 26	n/a	30.85%
10 Year Australian Treasury Bond Future Sept 26	n/a	21.17%
Ice: (Cdx.Na.Ig.46.V1)	n/a	18.74%
Future on TOPIX	n/a	12.79%
CASH COLLATERAL USD JPFFT	n/a	8.88%
ICE: (CDX.NA.HY.46.V3)	n/a	6.89%
FSWP: GBP 4.412100 16-SEP-2031 SON	n/a	6.68%
FSWP: CNY 1.646000 16-SEP-2031 CNR	n/a	5.45%
FSWP: OIS 3.046250 16-SEP-2031 CAD Receive	n/a	4.66%

Data Sources: Tiingo, Twelve Data, and more

Historical data is provided by Tiingo. Delayed stock pricing data is provided by Twelve Data. Several fund data points are also provided by Finnhub.

Last checked:

Oct 8, 2026

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