KEATING INVESTMENT COUNSELORS INC

CIK 1020580 · View on SEC EDGAR ↗

Portfolio value: $364.1M
Positions: 59
As of: June 30, 2026

Portfolio value QoQ: -9.8% 13F does not disclose cash

Top 10 holdings weight: 72.37%
Top 25 holdings weight: 92.92%
Positions above 1%: 21
Effective number of positions: 8.2

Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)

Turnover Q2 2026: 1.67% Est. buys $6,401,330 · sells $14,184,557

Median holding: 7.0 quarters Tracked Q4 2024–Q2 2026 · 71.1% still held

New positions: 4
Increased: 6
Decreased: 41
Closed: 4

On this page

Sector breakdown How the portfolio splits across market sectors.
Portfolio Every stock this institution reports holding, from its latest 13F.
High-conviction bets The holdings this manager is most concentrated in.
Biggest new bets Brand-new positions opened in the latest quarter.
Top moves The biggest position increases and decreases this quarter.
Exited positions Positions the manager fully sold out of last quarter.

Sector breakdown

Energy

14.7%

Materials

11.0%

Telecommunication

5.7%

Consumer Staples

3.5%

Healthcare

3.1%

Industrials

2.0%

Logistics & Transportation

0.9%

Retail

0.7%

Communication Services

0.2%

Technology

0.1%

Financials

0.1%

Consumer Discretionary

0.1%

Other/Unmapped

57.7%

Full portfolio 59 positions

					Streak
KEAT Keating Active ETF	$101,116,125	27.77%	3,239,448	$-9,486,941	Down ×1
STIP	$63,725,305	17.50%	623,779	$-2,196,986	Down ×1
BIL	$20,964,025	5.76%	228,765	$-2,120,458	Down ×1
B Barrick Mining Corporation Common Shares	$15,927,450	4.37%	433,636	$-3,690,868	Down ×4
AEM Agnico Eagle Mines Limited Common Stock	$13,709,769	3.76%	88,376	$-6,588,637	Down ×6
OII Oceaneering International, Inc. Common Stock	$13,524,685	3.71%	333,778	$1,520,289	Down ×6
VOD Vodafone Group Plc - American Depositary Shares each representing ten Ordinary Shares	$9,027,068	2.48%	682,576	$-1,525,624	Down ×2
GSK GSK plc American Depositary Shares (Each representing two Ordinary Shares)	$8,744,600	2.40%	166,818	$-922,922	Down ×2
CRRFY	$8,532,852	2.34%	2,299,960	$-104,003	Down ×2
SU Suncor Energy Inc. Common Stock	$8,252,978	2.27%	153,744	$-3,015,736	Down ×2
TTE TotalEnergies SE Ordinary Shares	$7,889,841	2.17%	101,464	$-1,505,755	Down ×2
EQNR Equinor ASA	$7,618,833	2.09%	242,638	$-2,824,106	Down ×2
VZ Verizon Communications Inc. Common Stock	$6,165,832	1.69%	145,627	$-1,182,232	Down ×2
JSAIY	$5,785,383	1.59%	337,734	$-459,475	Down ×1
LBTYK Liberty Global Ltd. - Class C Common Shares	$5,653,593	1.55%	513,963	$-544,809	Down ×3
TALO Talos Energy, Inc. Common Stock	$5,485,627	1.51%	424,913	$-1,506,108	Down ×2
LMT Lockheed Martin Corporation Common Stock	$5,321,310	1.46%	10,445	$-1,157,751	Down ×1
ULXXXX	$5,313,105	1.46%	88,375	$241,522	Down ×6
PAAS Pan American Silver Corp. Common Stock	$5,230,084	1.44%	116,769	$-1,102,571	Up ×3
RIG Transocean Ltd (Switzerland) Common Stock	$4,352,824	1.20%	890,148	$-174,790	Up ×1
SA Seabridge Gold, Inc. Ordinary Shares (Canada)	$4,021,437	1.10%	156,233		Up ×1
UPS United Parcel Service, Inc. Common Stock	$3,421,940	0.94%	31,832	$250,956	Down ×3
TAP Molson Coors Beverage Company Class B Common Stock	$3,371,754	0.93%	86,544	$-88,935	Up ×1
CALM Cal-Maine Foods, Inc. - Common Stock	$2,718,981	0.75%	33,751	$27,802	Down ×1
LW Lamb Weston Holdings, Inc. Common Stock	$2,473,523	0.68%	57,284	$142,504	Up ×4
HBRIY	$2,383,004	0.65%	813,312	$-835,444	Up ×1
XOM Exxon Mobil Corporation Common Stock	$2,033,573	0.56%	14,874	$-637,554	Down ×3
HD Home Depot, Inc. (The) Common Stock	$1,950,659	0.54%	5,531	$-57,530	Down ×6
SLB SLB Limited Common Shares	$1,913,110	0.53%	41,151	$-1,189,767	Down ×5
CVX Chevron Corporation Common Stock	$1,727,219	0.47%	10,420	$-432,403	Down ×3
FLO Flowers Foods, Inc. Common Stock	$1,714,182	0.47%	216,985	$215,152	Up ×1
GDX GDX	$1,364,362	0.37%	18,083	$-446,535	Down ×2
NEM Newmont Corporation	$1,295,365	0.36%	13,869	$-544,236	Down ×1
PM Philip Morris International Inc Common Stock	$1,143,894	0.31%	6,323	$32,313	Down ×6
TMO Thermo Fisher Scientific Inc Common Stock	$968,126	0.27%	1,931	$795	Down ×6
PEP PepsiCo, Inc. - Common Stock	$871,976	0.24%	6,440	$-175,455	Down ×2
APH Amphenol Corporation Common Stock	$705,280	0.19%	4,000	$199,880
COST Costco Wholesale Corporation - Common Stock	$631,442	0.17%	675	$-215,524	Down ×1
JNJ Johnson & Johnson Common Stock	$615,623	0.17%	2,424	$-93,009	Down ×6
DOV Dover Corporation Common Stock	$599,949	0.16%	2,675	$655	Down ×6
COP ConocoPhillips Common Stock	$519,940	0.14%	5,001	$-140,238
AAPL Apple Inc. - Common Stock	$471,946	0.13%	1,631	$-164,052	Down ×4
SYK Stryker Corporation Common Stock	$456,518	0.13%	1,450	$-139,873	Down ×2
NG	$426,706	0.12%	71,475	$-215,140
JPM JP Morgan Chase & Co. Common Stock	$384,613	0.11%	1,175	$38,975
BMY Bristol-Myers Squibb Company Common Stock	$356,207	0.10%	6,182	$-18,731
MICC The Magnum Ice Cream Company N.V. Ordinary Shares	$314,372	0.09%	18,057	$4,159	Down ×2
PSX Phillips 66 Common Stock	$310,545	0.09%	1,837	$-60,556	Down ×1
GOOGL Alphabet Inc. - Class A Common Stock	$286,968	0.08%	803	$56,057
URI United Rentals, Inc. Common Stock	$283,223	0.08%	250
MMM 3M Company Common Stock	$263,104	0.07%	1,625	$22,748	Down ×6
DIS Walt Disney Company (The) Common Stock	$249,711	0.07%	2,594	$-24,432	Down ×6
MO Altria Group, Inc.	$237,219	0.07%	3,297	$19,650
ABBV AbbVie Inc. Common Stock	$235,283	0.06%	935	$-33,317	Down ×4
META Meta Platforms, Inc. - Class A Common Stock	$227,715	0.06%	404	$-3,352
HON Honeywell International Inc. - Common Stock	$225,579	0.06%	1,008	$-229,871	Down ×5
Unknown issuer (CUSIP: 43849R105)	$222,738	0.06%	1,008		Up ×1
Unknown issuer (CUSIP: 919921106)	$203,447	0.06%	78,249		Up ×1
MCD McDonald's Corporation Common Stock	$200,029	0.05%	740	$-92,114	Down ×2
No matches

Conviction holdings

Positions increased for 3+ consecutive quarters.

Share counts are as reported in 13F filings (not split-adjusted)

Security	Value	% of portfolio	Streak
PAAS	$5,230,084	1.44%	up ×3
LW	$2,473,523	0.68%	up ×4

Biggest new bets

New positions opened this quarter, largest first.

Security	Value	Shares	% of portfolio
SA	$4,021,437	156,233	1.10%
URI	$283,223	250	0.08%
Unknown issuer (CUSIP: 43849R105)	$222,738	1,008	0.06%
Unknown issuer (CUSIP: 919921106)	$203,447	78,249	0.06%

Top movers (QoQ)

Security	Action	Shares Δ	Value Δ
KEAT	Trimmed	-3K	-$9.5M
AEM	Trimmed	-12K	-$6.6M
B	Trimmed	-47K	-$3.7M
SU	Trimmed	-17K	-$3.0M
EQNR	Trimmed	-5K	-$2.8M
STIP	Trimmed	-14K	-$2.2M
BIL	Trimmed	-23K	-$2.1M
VOD	Trimmed	-20K	-$1.5M
OII	Trimmed	-5K	+$1.5M
TALO	Trimmed	-19K	-$1.5M

Exited positions

Includes corporate events (mergers, delistings) — not all exits are sells

Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.

Security	Quarter	Shares before	Value before	Price since exit
GOLD	June 30, 2025	529,236	$10,288,348	110.5%
NTR	June 30, 2025	80,393	$3,993,120	26.2%
SNREY	Dec. 31, 2025	67,693	$3,978,995	No longer tracked
WY	March 31, 2026	29,762	$705,062	1.1%
WMT	March 31, 2025	6,000	$542,100	17.5%
HES	Sept. 30, 2025	3,438	$476,301	No longer tracked
ORLY	June 30, 2026	5,153	$475,673	-3.5%
KO	June 30, 2025	5,500	$393,910	28.1%
INTC	March 31, 2026	8,405	$310,145	108.3%
SHEL	Sept. 30, 2025	4,375	$308,044	31.1%
SCHD	March 31, 2025	10,990	$300,247	No longer tracked
BRKB	Sept. 30, 2025	575	$279,318	No longer tracked
EMR	June 30, 2025	2,525	$276,841	17.0%
NOBL	March 31, 2025	2,648	$263,608	No longer tracked
AMZN	March 31, 2025	1,198	$262,829	35.5%
PHYS	June 30, 2026	7,010	$248,434	No longer tracked
AMZN	March 31, 2026	1,057	$243,977	23.8%
SHEL	June 30, 2026	2,575	$239,475	20.9%
ORCL	Dec. 31, 2025	850	$239,054	-24.9%
LOW	March 31, 2026	980	$236,337	-7.9%
PSX	June 30, 2025	1,870	$230,908	103.7%
SWKS	March 31, 2026	3,625	$229,861	26.8%
MSFT	June 30, 2026	608	$225,063	29.2%
INTU	Sept. 30, 2025	266	$209,510	-47.2%
ABT	June 30, 2025	1,559	$206,801	-15.9%
BDX	June 30, 2025	900	$206,154	39.4%
URI	March 31, 2026	250	$202,330	51.9%