ICOM is actively managed and targets dividend-paying common and preferred stocks, ADRs, GDRs, and MLPs with commodity-related business exposure. Note that the fund does not invest in commodity producers directly but instead holds firms supporting the commodities value chain. To be eligible, these companies must derive at least 50% of annual revenue from activities relating to the commodities value chain, including mining services, oil and gas equipment, pipelines, royalty companies, and commodity-related REITs. The fund targets income-producing firms expected to pay dividends or distributions within 12 months. It also invests across micro- to large-cap firms issued globally, including early-stage companies. Security selection uses a value-oriented approach that combines top-down thematic research and bottom-up security analysis. The portfolio typically includes 15 to 100 companies selected based on conviction, liquidity, diversification, regulatory limits, and portfolio size criteria.

Alliance Resource Partners, L.P.

Energy Transfer LP

AngloGold Ashanti Plc

Western Midstream Partners, LP

Newmont Corporation

CF Industries Holdings, Inc.

Adecoagro S.A.

Chevron Corporation

Century Aluminum Company

Intrepid Potash, Inc.

Cash & Others

Tema Commodity Income ETF

ICOM Holdings & Sector Breakdown