# Keene & Associates, Inc.

> Institutional holdings reported to the SEC as of Q4 2024 on Form 13F. CIK 1907874. Source: https://holderbook.com/funds/1907874-keene-associates-inc/

- Reported value: $124.5M
- Positions: 76
- Weight of the ten largest: 34.1%
- Filed: 2025-02-03

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 |
|---|---|---|---|---|---|
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $5.0M | 54,790 | 4.0% | 13 |
| KINDER MORGAN INC DEL | [KMI](https://holderbook.com/stocks/KMI/) | $4.7M | 172,528 | 3.8% | 3 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $4.4M | 74,459 | 3.5% | 13 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $4.3M | 10,151 | 3.4% | 13 |
| INGREDION INC | [INGR](https://holderbook.com/stocks/INGR/) | $4.2M | 30,578 | 3.4% | 13 |
| FEDEX CORP | [FDX](https://holderbook.com/stocks/FDX/) | $4.1M | 14,698 | 3.3% | 13 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $4.1M | 24,801 | 3.3% | 13 |
| CORNING INC | [GLW](https://holderbook.com/stocks/GLW/) | $4.0M | 85,201 | 3.3% | 13 |
| EVERGY INC | [EVRG](https://holderbook.com/stocks/EVRG/) | $4.0M | 64,239 | 3.2% | 4 |
| DUKE ENERGY CORP NEW | [DUK](https://holderbook.com/stocks/DUK/) | $3.6M | 33,270 | 2.9% | 13 |
| BRISTOL-MYERS SQUIBB CO | [BMY](https://holderbook.com/stocks/BMY/) | $3.5M | 61,881 | 2.8% | 13 |
| TYSON FOODS INC | [TSN](https://holderbook.com/stocks/TSN/) | $3.5M | 60,123 | 2.8% | 13 |
| VERIZON COMMUNICATIONS INC | [VZ](https://holderbook.com/stocks/VZ/) | $3.4M | 85,373 | 2.7% | 8 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $3.4M | 30,265 | 2.7% | 13 |
| KIMBERLY-CLARK CORP | [KMB](https://holderbook.com/stocks/KMB/) | $3.3M | 25,354 | 2.7% | 13 |
| GENERAL DYNAMICS CORP | [GD](https://holderbook.com/stocks/GD/) | $3.2M | 12,281 | 2.6% | 13 |
| BARRICK GOLD CORP | [GOLD](https://holderbook.com/stocks/GOLD/) | $3.2M | 204,775 | 2.5% | 13 |
| MEDTRONIC PLC | [MDT](https://holderbook.com/stocks/MDT/) | $3.2M | 39,649 | 2.5% | 12 |
| SLB LIMITED | [SLB](https://holderbook.com/stocks/SLB/) | $3.1M | 81,477 | 2.5% | 13 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $3.0M | 19,877 | 2.4% | 13 |
| JACOBS SOLUTIONS INC | [J](https://holderbook.com/stocks/J/) | $3.0M | 22,247 | 2.4% | 1 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $2.9M | 20,328 | 2.4% | 13 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $2.9M | 29,240 | 2.3% | 13 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $2.7M | 18,739 | 2.2% | 13 |
| PFIZER INC | [PFE](https://holderbook.com/stocks/PFE/) | $2.5M | 95,073 | 2.0% | 13 |
| NEWMONT CORP | [NEM](https://holderbook.com/stocks/NEM/) | $2.4M | 64,935 | 1.9% | 13 |
| CONAGRA BRANDS INC | [CAG](https://holderbook.com/stocks/CAG/) | $2.4M | 86,550 | 1.9% | 1 |
| BORGWARNER INC | [BWA](https://holderbook.com/stocks/BWA/) | $2.1M | 67,609 | 1.7% | 6 |
| PIMCO ETF TR | [BILZ](https://holderbook.com/stocks/BILZ/) | $1.8M | 18,345 | 1.5% | 6 |
| INVESCO EXCHANGE TRADED FD T | [RSP](https://holderbook.com/stocks/RSP/) | $1.7M | 9,901 | 1.4% | 2 |
| NUTRIEN LTD | [NTR](https://holderbook.com/stocks/NTR/) | $1.6M | 35,464 | 1.3% | 6 |
| DEVON ENERGY CORP NEW | [DVN](https://holderbook.com/stocks/DVN/) | $1.5M | 47,330 | 1.2% | 6 |
| SPDR GOLD TR | [GLD](https://holderbook.com/stocks/GLD/) | $1.2M | 5,135 | 1.0% | 13 |
| ZEBRA TECHNOLOGIES CORPORATI | [ZBRA](https://holderbook.com/stocks/ZBRA/) | $988.7K | 2,560 | 0.8% | 9 |
| CORTEVA INC | [CTVA](https://holderbook.com/stocks/CTVA/) | $887.8K | 15,586 | 0.7% | 13 |
| HAEMONETICS CORP MASS | [HAE](https://holderbook.com/stocks/HAE/) | $851.4K | 10,904 | 0.7% | 13 |
| SCOTTS MIRACLE-GRO CO | [SMG](https://holderbook.com/stocks/SMG/) | $787.5K | 11,870 | 0.6% | 8 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $749.8K | 3,961 | 0.6% | 11 |
| MATRIX SVC CO | [MTRX](https://holderbook.com/stocks/MTRX/) | $738.0K | 61,651 | 0.6% | 13 |
| CULLEN FROST BANKERS INC | [CFR](https://holderbook.com/stocks/CFR/) | $702.4K | 5,232 | 0.6% | 13 |
| GE VERNOVA INC | [GEV](https://holderbook.com/stocks/GEV/) | $695.4K | 2,114 | 0.6% | 3 |
| SCHWAB CHARLES CORP | [SCHW](https://holderbook.com/stocks/SCHW/) | $688.0K | 9,296 | 0.6% | 13 |
| BOEING CO | [BA](https://holderbook.com/stocks/BA/) | $630.5K | 3,562 | 0.5% | 13 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $599.8K | 1,542 | 0.5% | 13 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $574.2K | 2,293 | 0.5% | 13 |
| TARGET CORP | [TGT](https://holderbook.com/stocks/TGT/) | $571.4K | 4,227 | 0.5% | 2 |
| RED ROCK RESORTS INC | [RRR](https://holderbook.com/stocks/RRR/) | $547.8K | 11,847 | 0.4% | 1 |
| CSW INDUSTRIALS INC | [CSW](https://holderbook.com/stocks/CSW/) | $529.2K | 1,500 | 0.4% | 1 |
| REVVITY INC | [RVTY](https://holderbook.com/stocks/RVTY/) | $522.1K | 4,678 | 0.4% | 4 |
| OCCIDENTAL PETE CORP | [OXY](https://holderbook.com/stocks/OXY/) | $513.3K | 10,389 | 0.4% | 13 |
| VANGUARD SCOTTSDALE FDS | [VGSH](https://holderbook.com/stocks/VGSH/) | $513.1K | 8,819 | 0.4% | 5 |
| ROYALTY PHARMA PLC | [RPRX](https://holderbook.com/stocks/RPRX/) | $495.4K | 19,420 | 0.4% | 2 |
| ENERGY RECOVERY INC | [ERII](https://holderbook.com/stocks/ERII/) | $479.3K | 32,604 | 0.4% | 4 |
| ARGAN INC | [AGX](https://holderbook.com/stocks/AGX/) | $447.2K | 3,263 | 0.4% | 8 |
| PIMCO ETF TR | [MINT](https://holderbook.com/stocks/MINT/) | $424.4K | 4,230 | 0.3% | 10 |
| JUNIPER NETWORKS INC | [JNPR](https://holderbook.com/stocks/JNPR/) | $415.5K | 11,094 | 0.3% | 13 |
| RALPH LAUREN CORP | [RL](https://holderbook.com/stocks/RL/) | $408.1K | 1,767 | 0.3% | 13 |
| HEIDRICK & STRUGGLES INTL IN | [HSII](https://holderbook.com/stocks/HSII/) | $401.2K | 9,055 | 0.3% | 13 |
| NATIONAL FUEL GAS CO | [NFG](https://holderbook.com/stocks/NFG/) | $384.1K | 6,330 | 0.3% | 2 |
| CHENIERE ENERGY INC | [LNG](https://holderbook.com/stocks/LNG/) | $383.1K | 1,783 | 0.3% | 13 |
| NISOURCE INC | [NI](https://holderbook.com/stocks/NI/) | $381.3K | 10,373 | 0.3% | 13 |
| UNIVERSAL CORP VA MTNS BK EN | [UVV](https://holderbook.com/stocks/UVV/) | $375.5K | 6,848 | 0.3% | 13 |
| PROSHARES TR II | [UGL](https://holderbook.com/stocks/UGL/) | $373.9K | 4,000 | 0.3% | 9 |
| TREEHOUSE FOODS INC | [THS](https://holderbook.com/stocks/THS/) | $368.0K | 10,475 | 0.3% | 3 |
| ELANCO ANIMAL HEALTH INC | [ELAN](https://holderbook.com/stocks/ELAN/) | $354.0K | 29,230 | 0.3% | 13 |
| SCHEIN HENRY INC | [HSIC](https://holderbook.com/stocks/HSIC/) | $352.0K | 5,086 | 0.3% | 13 |
| DARLING INGREDIENTS INC | [DAR](https://holderbook.com/stocks/DAR/) | $341.4K | 10,135 | 0.3% | 2 |
| SMITH & NEPHEW PLC | [SNN](https://holderbook.com/stocks/SNN/) | $336.4K | 13,686 | 0.3% | 10 |
| HELMERICH & PAYNE INC | [HP](https://holderbook.com/stocks/HP/) | $324.7K | 10,140 | 0.3% | 7 |
| ROYAL GOLD INC | [RGLD](https://holderbook.com/stocks/RGLD/) | $307.6K | 2,333 | 0.2% | 8 |
| FLOWERS FOODS INC | [FLO](https://holderbook.com/stocks/FLO/) | $297.3K | 14,391 | 0.2% | 13 |
| DIREXION SHARES ETF TRUST | [TMV](https://holderbook.com/stocks/TMV/) | $297.0K | 7,476 | 0.2% | 10 |
| FMC CORP | [FMC](https://holderbook.com/stocks/FMC/) | $240.8K | 4,954 | 0.2% | 4 |
| NOVAGOLD RESOURCES INC | [NG](https://holderbook.com/stocks/NG/) | $33.3K | 10,000 | 0.0% | 13 |
| NEW GOLD INC CDA | [NGD](https://holderbook.com/stocks/NGD/) | $24.8K | 10,000 | 0.0% | 13 |
| VISTA GOLD CORP | [VGZ](https://holderbook.com/stocks/VGZ/) | $6.2K | 11,200 | 0.0% | 13 |

## 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 |
|---|---|---|---|---|
| Q4 2024 | -3.9% | +2.1% | -6.1% | 100% |
| Q3 2024 | +7.3% | +5.4% | +1.9% | 100% |
| Q2 2024 | -1.8% | +4.0% | -5.8% | 100% |
| Q1 2024 | +6.8% | +10.0% | -3.3% | 100% |
| Q4 2023 | +3.8% | +11.2% | -7.4% | 100% |
| Q3 2023 | -4.2% | -3.6% | -0.6% | 97% |
| Q2 2023 | +0.8% | +8.3% | -7.5% | 100% |
| Q1 2023 | +1.6% | +7.0% | -5.5% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q4 2024 | $124.5M | 76 |
| Q3 2024 | $132.0M | 78 |
| Q2 2024 | $122.6M | 75 |
| Q1 2024 | $133.9M | 82 |
| Q4 2023 | $120.5M | 80 |
| Q3 2023 | $124.6M | 81 |
| Q2 2023 | $128.7M | 79 |
| Q1 2023 | $129.0M | 79 |
| Q4 2022 | $112.0M | 76 |
| Q3 2022 | $108.8M | 78 |
| Q2 2022 | $106.8M | 80 |
| Q1 2022 | $122.6M | 81 |