Climber Capital Sells $3.5 Million of First Trust Global Tactical Commodity Strategy ETF
Key Points
Sold entire FTGC stake: a decrease of 144,878 shares, for an estimated transaction value of $3.46 million (based on quarterly average price).
Quarter-end position value decreased by $3.46 million, reflecting both the trade and price movement.
Position change represented approximately 2.3% of 13F assets under management (AUM).
Post-trade, Climber Capital SA held zero FTGC shares, with no remaining position value.
The FTGC stake was previously 2.2% of the fund’s AUM as of the prior quarter.
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On Feb. 3, 2026, Climber Capital SA disclosed in an SEC filing that it sold out its entire position in First Trust Global Tactical Commodity Strategy Fund (NASDAQ:FTGC), an estimated $3.46 million trade based on quarterly average pricing.
What happened
According to a recent SEC filing, Climber Capital SA fully exited its position in First Trust Global Tactical Commodity Strategy Fund, selling 144,878 shares. The estimated value of the trade is $3.4 million, calculated using the average FTGC price during the quarter. The net position change at quarter-end, reflecting both sales and market price movements, was a decrease of $3.4 million.
What else to know
- Climber Capital SA sold out of FTGC; the position now represents n/a of 13F AUM.
- Top holdings after the filing:
- NYSEMKT:VOO: $16.2 million (10.5% of AUM)
- NYSEMKT:GLD: $15.4 million (10.0% of AUM)
- NYSEMKT:SPSB: $7.5 million (4.9% of AUM)
- NASDAQ:SHV: $7.3 million (4.8% of AUM)
- NYSEMKT:SDY: $6.3 million (4.1% of AUM)
- As of Feb. 2, 2026, FTGC shares were priced at $24.29, down 10.4% from the 52-week high.
- FTGC delivered a 15.5% one-year total return, trailing the S&P 500 by 1.46 percentage points.
- The FTGC position was previously 2.2% of the fund’s AUM as of the prior quarter.
ETF overview
| Metric | Value |
|---|---|
| AUM | N/A |
| Price (as of market close 2/2/26) | $24.29 |
| Dividend yield | 16.69% |
| 1-year total return | 14.36% |
ETF snapshot
- Actively managed ETF seeking risk-adjusted returns by investing in a diversified portfolio of commodity futures, commodity-linked instruments, and total return swaps through a Cayman Islands subsidiary.
- Portfolio primarily consists of commodity futures contracts and exchange-traded commodity-linked instruments.
- Targets investors seeking broad commodity exposure within a U.S.-listed ETF structure.
First Trust Global Tactical Commodity Strategy Fund (FTGC) is a sizable, actively managed ETF with a market capitalization of $2.29 billion, designed to provide diversified commodity exposure. The fund employs a tactical approach, combining futures, swaps, and commodity-linked instruments to capture returns across multiple commodity sectors. FTGC's structure allows for efficient access to global commodity markets while maintaining the regulatory advantages of a U.S.-listed ETF.
What this transaction means for investors
Climber Capital’s complete liquidation of its investment in a commodities fund (FTGC) comes after prices of oil and agricultural products have slipped recently.
With commodities weakening, Climber Capital bought more shares last quarter in stocks and bonds, which may have better return prospects. The economic outlook is improving after the purchasing managers’ index (PMI) strengthened in the fourth quarter. An expanding manufacturing sector could broaden the bull market in stocks to non-tech industries, benefiting investors in index funds (VOO).
Moreover, interest rates are down following two rate cuts by the Federal Reserve last quarter. Further rate cuts in 2026 would benefit dividend stocks (SDY) and bond funds (SPSB and SHV), which Climber Capital was also buying more of in the fourth quarter.
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John Ballard has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Vanguard S&P 500 ETF. The Motley Fool has a disclosure policy.
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