# KEATING INVESTMENT COUNSELORS INC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1020580. Source: https://holderbook.com/funds/1020580-keating-investment-counselors-inc/

- Reported value: $364.1M
- Positions: 59
- Weight of the ten largest: 72.4%
- Filed: 2026-07-16

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| Keating Active ETF | [KEAT](https://holderbook.com/stocks/KEAT/) | $101.1M | 3,239,448 | 27.8% | 10 |
| ISHARES TR | [STIP](https://holderbook.com/stocks/STIP/) | $63.7M | 623,779 | 17.5% | 31 |
| SPDR SERIES TRUST | [BIL](https://holderbook.com/stocks/BIL/) | $21.0M | 228,765 | 5.8% | 15 |
| BARRICK MNG CORP | [B](https://holderbook.com/stocks/B/) | $15.9M | 433,636 | 4.4% | 5 |
| AGNICO EAGLE MINES LTD | [AEM](https://holderbook.com/stocks/AEM/) | $13.7M | 88,376 | 3.8% | 18 |
| OCEANEERING INTL INC | [OII](https://holderbook.com/stocks/OII/) | $13.5M | 333,778 | 3.7% | 17 |
| VODAFONE GROUP PLC | [VOD](https://holderbook.com/stocks/VOD/) | $9.0M | 682,576 | 2.5% | 14 |
| GSK PLC | [GSK](https://holderbook.com/stocks/GSK/) | $8.7M | 166,818 | 2.4% | 7 |
| CARREFOUR SA | [CRRFY](https://holderbook.com/stocks/CRRFY/) | $8.5M | 2,299,960 | 2.3% | 6 |
| SUNCOR ENERGY INC NEW | [SU](https://holderbook.com/stocks/SU/) | $8.3M | 153,744 | 2.3% | 23 |
| TOTALENERGIES SE | [TTE](https://holderbook.com/stocks/TTE/) | $7.9M | 101,464 | 2.2% | 21 |
| EQUINOR ASA | [EQNR](https://holderbook.com/stocks/EQNR/) | $7.6M | 242,638 | 2.1% | 27 |
| VERIZON COMMUNICATIONS INC | [VZ](https://holderbook.com/stocks/VZ/) | $6.2M | 145,627 | 1.7% | 31 |
| J. SAINSBURY PLC-SPONS ADR | [JSAIY](https://holderbook.com/stocks/JSAIY/) | $5.8M | 337,734 | 1.6% | 9 |
| LIBERTY GLOBAL LTD | [LBTYK](https://holderbook.com/stocks/LBTYK/) | $5.7M | 513,963 | 1.6% | 11 |
| TALOS ENERGY INC | [TALO](https://holderbook.com/stocks/TALO/) | $5.5M | 424,913 | 1.5% | 20 |
| LOCKHEED MARTIN CORP | [LMT](https://holderbook.com/stocks/LMT/) | $5.3M | 10,445 | 1.5% | 31 |
| UNILEVER PLC | [ULXXXX](https://holderbook.com/stocks/ULXXXX/) | $5.3M | 88,375 | 1.5% | 18 |
| PAN AMERN SILVER CORP | [PAAS](https://holderbook.com/stocks/PAAS/) | $5.2M | 116,769 | 1.4% | 6 |
| TRANSOCEAN LTD | [RIG](https://holderbook.com/stocks/RIG/) | $4.4M | 890,148 | 1.2% | 7 |
| SEABRIDGE GOLD INC | [SA](https://holderbook.com/stocks/SA/) | $4.0M | 156,233 | 1.1% | 1 |
| UNITED PARCEL SVCS INC | [UPS](https://holderbook.com/stocks/UPS/) | $3.4M | 31,832 | 0.9% | 31 |
| MOLSON COORS BEVERAGE CO | [TAP](https://holderbook.com/stocks/TAP/) | $3.4M | 86,544 | 0.9% | 23 |
| CAL MAINE FOODS INC | [CALM](https://holderbook.com/stocks/CALM/) | $2.7M | 33,751 | 0.7% | 31 |
| LAMB WESTON HLDGS INC | [LW](https://holderbook.com/stocks/LW/) | $2.5M | 57,284 | 0.7% | 31 |
| Harbour Energy Plc-Spon Adr | [HBRIY](https://holderbook.com/stocks/HBRIY/) | $2.4M | 813,312 | 0.7% | 2 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $2.0M | 14,874 | 0.6% | 31 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $2.0M | 5,531 | 0.5% | 31 |
| SLB LIMITED | [SLB](https://holderbook.com/stocks/SLB/) | $1.9M | 41,151 | 0.5% | 31 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $1.7M | 10,420 | 0.5% | 31 |
| FLOWERS FOODS INC | [FLO](https://holderbook.com/stocks/FLO/) | $1.7M | 216,985 | 0.5% | 2 |
| VANECK ETF TRUST | [GDX](https://holderbook.com/stocks/GDX/) | $1.4M | 18,083 | 0.4% | 16 |
| NEWMONT CORP | [NEM](https://holderbook.com/stocks/NEM/) | $1.3M | 13,869 | 0.4% | 29 |
| PHILIP MORRIS INTL INC | [PM](https://holderbook.com/stocks/PM/) | $1.1M | 6,323 | 0.3% | 31 |
| THERMO FISHER SCIENTIFIC INC | [TMO](https://holderbook.com/stocks/TMO/) | $968.1K | 1,931 | 0.3% | 31 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $872.0K | 6,440 | 0.2% | 31 |
| AMPHENOL CORP | [APH](https://holderbook.com/stocks/APH/) | $705.3K | 4,000 | 0.2% | 9 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $631.4K | 675 | 0.2% | 31 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $615.6K | 2,424 | 0.2% | 31 |
| DOVER CORP | [DOV](https://holderbook.com/stocks/DOV/) | $599.9K | 2,675 | 0.2% | 31 |
| CONOCOPHILLIPS | [COP](https://holderbook.com/stocks/COP/) | $519.9K | 5,001 | 0.1% | 31 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $471.9K | 1,631 | 0.1% | 31 |
| STRYKER CORPORATION | [SYK](https://holderbook.com/stocks/SYK/) | $456.5K | 1,450 | 0.1% | 31 |
| NOVAGOLD RESOURCES INC | [NG](https://holderbook.com/stocks/NG/) | $426.7K | 71,475 | 0.1% | 30 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $384.6K | 1,175 | 0.1% | 31 |
| BRISTOL-MYERS SQUIBB CO | [BMY](https://holderbook.com/stocks/BMY/) | $356.2K | 6,182 | 0.1% | 31 |
| MAGNUM ICE CREAM CO NV | [MICC](https://holderbook.com/stocks/MICC/) | $314.4K | 18,057 | 0.1% | 3 |
| PHILLIPS 66 | [PSX](https://holderbook.com/stocks/PSX/) | $310.5K | 1,837 | 0.1% | 4 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $287.0K | 803 | 0.1% | 3 |
| UNITED RENTALS INC | [URI](https://holderbook.com/stocks/URI/) | $283.2K | 250 | 0.1% | 1 |
| 3M CO | [MMM](https://holderbook.com/stocks/MMM/) | $263.1K | 1,625 | 0.1% | 31 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $249.7K | 2,594 | 0.1% | 31 |
| ALTRIA GROUP INC | [MO](https://holderbook.com/stocks/MO/) | $237.2K | 3,297 | 0.1% | 8 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $235.3K | 935 | 0.1% | 15 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $227.7K | 404 | 0.1% | 10 |
| HONEYWELL INTL INC | [HONZZZZ](https://holderbook.com/stocks/HONZZZZ/) | $225.6K | 1,008 | 0.1% | 31 |
| HONEYWELL AEROSPACE INC | [HONA](https://holderbook.com/stocks/HONA/) | $222.7K | 1,008 | 0.1% | 1 |
|  | - | $203.4K | 78,249 | 0.1% | 1 |
| MCDONALDS CORP | [MCD](https://holderbook.com/stocks/MCD/) | $200.0K | 740 | 0.1% | 31 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | -7.5% | +14.8% | -22.3% | 72% |
| Q1 2026 | +11.5% | -4.6% | +16.1% | 73% |
| Q4 2025 | +4.1% | +2.4% | +1.7% | 72% |
| Q3 2025 | +8.8% | +7.8% | +0.9% | 74% |
| Q2 2025 | +0.6% | +10.5% | -9.8% | 74% |
| Q1 2025 | +5.4% | -4.6% | +9.9% | 76% |
| Q4 2024 | -8.0% | +2.1% | -10.2% | 75% |
| Q3 2024 | +6.1% | +5.4% | +0.6% | 76% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $364.1M | 59 |
| Q1 2026 | $403.8M | 59 |
| Q4 2025 | $360.7M | 62 |
| Q3 2025 | $350.3M | 61 |
| Q2 2025 | $330.8M | 61 |
| Q1 2025 | $331.6M | 65 |
| Q4 2024 | $320.2M | 67 |
| Q3 2024 | $335.0M | 69 |
| Q2 2024 | $311.5M | 68 |
| Q1 2024 | $310.5M | 80 |
| Q4 2023 | $279.8M | 84 |
| Q3 2023 | $294.9M | 82 |