Fund Manager Exits Major PDBC Position in Commodity Strategy Restructuring

On January 30, 2026, Kiker Wealth Management disclosed a significant reduction in its holdings of Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (NASDAQ: PDBC), marking a strategic shift in the fund’s commodity strategy approach. The divestment, totaling approximately 917,662 shares valued at $12.4 million, reflects broader portfolio restructuring aimed at concentrating positions across fewer, more selective investments.

The $12.4 Million Divestment and Portfolio Overhaul

The transaction represented a substantial repositioning for Kiker Wealth Management, as the fund reduced its overall assets dramatically from roughly $198 million in the third quarter to approximately $3 million by year-end 2025. Within this broader liquidation, the PDBC position was trimmed significantly, though the fund retained 23,805 shares worth approximately $315,416 following the trade.

According to the Securities and Exchange Commission filing, the quarter-end position value decreased by $12.3 million, accounting for both the sale proceeds and market fluctuations in the fund’s commodity strategy allocation. At the time of the divestment, PDBC shares were trading at $15.02, reflecting a 16.9% gain over the prior twelve months. The transaction represented 411.8% of the fund’s reported 13F assets under management, indicating the substantial nature of this reallocation.

Why PDBC Remains Strategic Despite Broader Liquidation

Despite liquidating most holdings—reducing total disclosed positions from 221 to just 12—Kiker Wealth Management retained partial exposure to PDBC. This selective retention suggests conviction in the diversified commodity strategy’s potential heading into 2026. The remaining stake now represents 10.5% of the fund’s 13F reportable assets, maintaining PDBC within its top five positions alongside IGSB ($487,448), OUNZ ($336,444), IWM ($325,424), and TLT ($307,588).

The fund’s top holdings reflect a strategic tilt toward diversified income and stability, with PDBC’s 3.50% dividend yield providing steady returns. The commodity strategy employed by PDBC—which uses an optimum yield approach to track a broad basket of globally traded commodities spanning energy, agriculture, and metals—offers exposure to multiple asset classes without the complexity of K-1 tax reporting that traditional commodity partnerships require.

Commodity Markets and 2026 Investment Outlook

The retention of PDBC holdings amid significant portfolio reduction carries implications for how professional investors view commodity exposure in 2026. Several factors could influence the diversified commodity strategy’s performance moving forward. New Federal Reserve leadership introduces uncertainty regarding inflation and interest rate policy, which historically impacts commodity valuations. Additionally, ongoing geopolitical tensions could support commodity prices, while a potential decline in interest rates could further boost prices across the commodity complex.

PDBC’s structure—investing in futures and financial instruments linked to heavily traded commodities—positions it to benefit from both cyclical upturns and hedging demand. The fund’s $4.48 billion in assets provides sufficient liquidity for investors seeking broad commodity diversification through an exchange-traded vehicle. As markets navigate 2026’s uncertainties, the decision by Kiker Wealth Management to maintain exposure to diversified commodity positions, even while reducing overall assets, signals that institutional investors may view this commodity strategy as a valuable portfolio component during periods of economic transition and market volatility.