CIK: 0001020580
Total reported value
$403.8M
Reporting period: 2026-03-31 · Number of holdings: 59
KEATING INVESTMENT COUNSELORS INC disclosed 59 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $403.8M and a quarterly turnover rate of 18.4%.
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Keating Investment Counselors INC's disclosed holdings carry a Herfindahl concentration index of 0.117 — mathematically equivalent to about 9 equally-sized positions, well below its 59 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 2.45), with a handful of outsized bets alongside many smaller positions.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 4.3 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Sector classification currently covers about 11% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Trim B
-0.7% -$1.5M
Add EQNR
-0.6% $4.6M
Trim PM
-71.1% -$2.6M
Trim BIL
+0.1% $90.7K
Add SU
-3.4% $3.4M
Add OII
-4.5% $3.5M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | KEAT | Keating Active ETF | ETF-Other | 27.39% | +0.53% | +1.99% | |
| 2 | STIP | Ishares 0-5 Year Tips Bond E | ETF-Other | 16.33% | +0.13% | +11.66% | |
| 3 | BIL | Ss Spdr Bb 1-3m T-bill ETF | ETF-Gov Bonds | 5.72% | -0.66% | +0.11% | |
| 4 | AEM | Agnico Eagle Mines LTD | Stock-Materials | 5.03% | +0.31% | -0.44% | |
| 5 | B | Barrick Mining CORP | Stock-Materials | 4.86% | -0.99% | -0.67% | |
| 6 | OII | Oceaneering Intl INC | Stock-Energy | 2.97% | +0.61% | -4.49% | |
| 7 | SU | Suncor Energy INC | Stock-Energy | 2.79% | +0.62% | -3.36% | |
| 8 | VOD | Vodafone Group Plc-sp Adr | Stock-Comm Services | 2.61% | +0.02% | -0.67% | |
| 9 | EQNR | Equinor Asa-spon Adr | Stock-Energy | 2.59% | +0.96% | -0.61% | |
| 10 | GSK | Gsk Plc-spon Adr | Stock-Healthcare | 2.39% | -0.06% | -2.74% | |
| 11 | TTEN | Totalenergies Se -spon Adr | Stock-Other | 2.33% | +0.45% | -0.31% | |
| 12 | CRRFY | Carrefour Sa-sp Adr | Stock-Other | 2.14% | -0.02% | -0.50% | |
| 13 | VZ | Verizon Communications INC | Stock-Comm Services | 1.82% | +0.14% | -1.70% | |
| 14 | TALO | Talos Energy INC | Stock-Other | 1.73% | +0.37% | -0.02% | |
| 15 | LMT | Lockheed Martin CORP | Stock-Industrials | 1.60% | +0.17% | +0.19% | |
| 16 | PAAS | Pan American Silver CORP | Stock-Materials | 1.57% | -0.09% | +0.54% | |
| 17 | JSAIY | J. Sainsbury Plc-spons Adr | Stock-Other | 1.55% | -0.15% | +0.07% | |
| 18 | LBTYA | Liberty Global Ltd. | Stock-Other | 1.54% | -0.10% | -1.38% | |
| 19 | UL | Unilever PLC | Stock-Consumer Staples | 1.26% | -0.37% | -1.07% | |
| 20 | RIG | Transocean Ltd. | Stock-Energy | 1.12% | +0.33% | -0.68% | |
| 21 | TAP | Molson Coors Beverage Co - B | Stock-Consumer Staples | 0.86% | -0.20% | -1.55% | |
| 22 | HBRIY | Harbour Energy Plc-spon Adr | Stock-Other | 0.80% | +0.80% | NEW | |
| 23 | UPS | United Parcel Service-cl B | Stock-Industrials | 0.79% | — | -0.39% | |
| 24 | SLB | Slb LTD | Stock-Energy | 0.77% | +0.06% | -9.65% | |
| 25 | CALM | Cal-maine Foods INC | Stock-Consumer Staples | 0.67% | — | +0.44% | |
| 26 | XOM | Exxon Mobil CORP | Stock-Energy | 0.66% | +0.05% | -13.99% | |
| 27 | LW | Lamb Weston Holdings INC | Stock-Consumer Staples | 0.58% | — | +2.65% | |
| 28 | CVX | Chevron CORP | Stock-Energy | 0.53% | +0.09% | -0.48% | |
| 29 | HD | Home Depot INC | Stock-Consumer Disc | 0.50% | -0.42% | -36.79% | |
| 30 | NEM | Newmont CORP | Stock-Materials | 0.46% | -0.01% | +0.24% | |
| 31 | GDX | Vaneck Gold Miners ETF | ETF-Commodities | 0.45% | — | -7.57% | |
| 32 | FLO | Flowers Foods INC | Stock-Consumer Staples | 0.37% | +0.37% | NEW | |
| 33 | PM | Philip Morris International | Stock-Consumer Staples | 0.28% | -0.75% | -71.07% | |
| 34 | PEP | Pepsico INC | Stock-Consumer Staples | 0.26% | — | -1.24% | |
| 35 | TMO | Thermo Fisher Scientific INC | Stock-Healthcare | 0.24% | -0.21% | -29.54% | |
| 36 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 0.21% | +0.21% | NEW | |
| 37 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.18% | -0.41% | -71.68% | |
| 38 | COP | Conocophillips | Stock-Energy | 0.16% | +0.03% | +2.04% | |
| 39 | NG | Novagold Resources INC | Stock-Other | 0.16% | — | +5.93% | |
| 40 | AAPL | Apple INC | Stock-Tech | 0.16% | -0.05% | -9.73% | |
| 41 | DOV | Dover CORP | Stock-Industrials | 0.15% | — | -6.50% | |
| 42 | SYK | Stryker CORP | Stock-Healthcare | 0.15% | -0.13% | -36.98% | |
| 43 | APH | Amphenol Corp-cl A | Stock-Tech | 0.13% | — | — | |
| 44 | ORLY | O'reilly Automotive INC | Stock-Consumer Disc | 0.12% | — | — | |
| 45 | HON | Honeywell International INC | Stock-Industrials | 0.11% | — | -1.71% | |
| 46 | BMY | Bristol-myers Squibb Co | Stock-Healthcare | 0.09% | — | -9.58% | |
| 47 | PSX | Phillips 66 | Stock-Energy | 0.09% | +0.02% | +10.89% | |
| 48 | JPM | Jpmorgan Chase & Co | Stock-Financials | 0.09% | -0.12% | -49.46% | |
| 49 | MICC | The Magnum Ice Cream Company N. | Stock-Consumer Staples | 0.08% | — | -0.89% | |
| 50 | MCD | Mcdonald's CORP | Stock-Consumer Disc | 0.07% | — | -9.62% |
Performance for Q3 2026
-3.8%
Performance Last 4 Quarters
+18.9%
Based on 85% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 59 | $403.8M | 18 | |
| 2025-12-31 | 62 | $360.7M | 8 | |
| 2025-09-30 | 61 | $350.3M | 23 | |
| 2025-06-30 | 61 | $330.8M | 0 | |
| 2025-03-31 | 65 | $331.6M | 100 | |
| 2024-12-31 | 67 | $320.2M | 0 | |
| 2024-09-30 | 69 | $335.0M | 0 | |
| 2024-06-30 | 68 | $311.5M | 0 | |
| 2024-03-31 | 80 | $310.5M | 0 | |
| 2023-12-31 | 84 | $279.8M | 0 | |
| 2023-09-30 | 82 | $294.9M | 0 | |
| 2023-06-30 | 79 | $276.6M | 0 | |
| 2023-03-31 | 80 | $264.5M | 0 | |
| 2022-12-31 | 79 | $255.5M | 0 | |
| 2022-09-30 | 58 | $223.3M | 0 | |
| 2022-06-30 | 58 | $237.0M | 0 | |
| 2022-03-31 | 61 | $233.5M | 0 | |
| 2021-12-31 | 61 | $226.0M | 0 | |
| 2021-09-30 | 60 | $213.7M | 0 | |
| 2021-06-30 | 60 | $218.2M | 98 | |
| 2021-03-31 | 60 | $208.2M | 13 | |
| 2020-12-31 | 58 | $199.8M | 17 | |
| 2020-09-30 | 58 | $191.0M | 12 | |
| 2020-06-30 | 59 | $181.6M | 16 | |
| 2020-03-31 | 61 | $163.7M | 36 | |
| 2019-12-31 | 70 | $228.9M | 18 | |
| 2019-09-30 | 68 | $222.1M | 11 | |
| 2019-06-30 | 65 | $224.2M | 26 | |
| 2019-03-31 | 64 | $221.1M | 16 | |
| 2018-12-31 | 65 | $197.5M | 21 | |
| 2018-09-30 | 65 | $232.3M | 25 | |
| 2018-06-30 | 84 | $210.9M | 13 | |
| 2018-03-31 | 65 | $216.8M | 12 | |
| 2017-12-31 | 65 | $235.2M | 14 | |
| 2017-09-30 | 64 | $230.1M | 6 | |
| 2017-06-30 | 64 | $228.4M | 12 | |
| 2017-03-31 | 63 | $224.4M | 12 | |
| 2016-12-31 | 62 | $211.8M | 13 | |
| 2016-09-30 | 62 | $205.4M | 14 | |
| 2016-06-30 | 63 | $203.9M | 13 | |
| 2016-03-31 | 59 | $204.4M | 20 | |
| 2015-12-31 | 58 | $199.7M | 13 | |
| 2015-09-30 | 58 | $185.8M | 9 | |
| 2015-06-30 | 59 | $196.1M | 8 | |
| 2015-03-31 | 62 | $200.0M | 18 | |
| 2014-12-31 | 62 | $200.5M | 12 | |
| 2014-09-30 | 57 | $193.4M | 10 | |
| 2014-06-30 | 56 | $207.5M | 10 | |
| 2014-03-31 | 56 | $200.7M | 9 | |
| 2013-12-31 | 55 | $196.1M | 9 | |
| 2013-09-30 | 54 | $179.4M | 7 | |
| 2013-06-30 | 96 | $177.5M | 0 |
Keating Investment Counselors INC's most significant position changes for 2026-03-31: New buy: Harbour Energy Plc-spon Adr (HBRIY); New buy: Flowers Foods INC (FLO); Sold out: Costco Wholesale Corporation; New buy: Costco Wholesale CORP (COST); Sold out: Weyerhaeuser Co (WY).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | EQNR | Equinor Asa-spon Adr | +1% | -0.61% | Trim |
| 2 | SU | Suncor Energy INC | +0.6% | -3.36% | Trim |
| 3 | OII | Oceaneering Intl INC | +0.6% | -4.49% | Trim |
| 4 | KEAT | Keating Active ETF | +0.5% | +1.99% | Add |
| 5 | TTEN | Totalenergies Se -spon Adr | +0.5% | -0.31% | Trim |
| 6 | TALO | Talos Energy INC | +0.4% | -0.02% | Trim |
| 7 | RIG | Transocean Ltd. | +0.3% | -0.68% | Trim |
| 8 | AEM | Agnico Eagle Mines LTD | +0.3% | -0.44% | Trim |
| 9 | LMT | Lockheed Martin CORP | +0.2% | +0.19% | Add |
| 10 | VZ | Verizon Communications INC | +0.1% | -1.70% | Trim |
| 11 | STIP | Ishares 0-5 Year Tips Bond E | +0.1% | +11.66% | Add |
| 12 | CVX | Chevron CORP | +0.1% | -0.48% | Trim |
| 13 | SLB | Slb LTD | +0.1% | -9.65% | Trim |
| 14 | XOM | Exxon Mobil CORP | +0.1% | -13.99% | Trim |
| 15 | COP | Conocophillips | 0% | +2.04% | Add |
| 16 | VOD | Vodafone Group Plc-sp Adr | 0% | -0.67% | Trim |
| 17 | PSX | Phillips 66 | 0% | +10.89% | Add |
| 18 | NEM | Newmont CORP | 0% | +0.24% | Add |
| 19 | CRRFY | Carrefour Sa-sp Adr | 0% | -0.50% | Trim |
| 20 | META | Meta Platforms Inc-class A | 0% | -19.68% | Trim |
| 21 | ABBV | Abbvie INC | 0% | -30.23% | Trim |
| 22 | AAPL | Apple INC | -0.1% | -9.73% | Trim |
| 23 | GSK | Gsk Plc-spon Adr | -0.1% | -2.74% | Trim |
| 24 | MSFT | Microsoft CORP | -0.1% | -29.14% | Trim |
| 25 | DIS | Walt Disney Co/the | -0.1% | -36.52% | Trim |
| 26 | PAAS | Pan American Silver CORP | -0.1% | +0.54% | Add |
| 27 | LBTYA | Liberty Global Ltd. | -0.1% | -1.38% | Trim |
| 28 | MMM | 3m Co | -0.1% | -59.03% | Trim |
| 29 | JPM | Jpmorgan Chase & Co | -0.1% | -49.46% | Trim |
| 30 | SYK | Stryker CORP | -0.1% | -36.98% | Trim |
| 31 | JSAIY | J. Sainsbury Plc-spons Adr | -0.2% | +0.07% | Add |
| 32 | TAP | Molson Coors Beverage Co - B | -0.2% | -1.55% | Trim |
| 33 | TMO | Thermo Fisher Scientific INC | -0.2% | -29.54% | Trim |
| 34 | UL | Unilever PLC | -0.4% | -1.07% | Trim |
| 35 | JNJ | Johnson & Johnson | -0.4% | -71.68% | Trim |
| 36 | HD | Home Depot INC | -0.4% | -36.79% | Trim |
| 37 | BIL | Ss Spdr Bb 1-3m T-bill ETF | -0.7% | +0.11% | Add |
| 38 | PM | Philip Morris International | -0.8% | -71.07% | Trim |
| 39 | B | Barrick Mining CORP | -1% | -0.67% | Trim |
| 40 | HBRIY | Harbour Energy Plc-spon Adr | — | NEW | New buy |
| 41 | FLO | Flowers Foods INC | — | NEW | New buy |
| 42 | ✓ | Costco Wholesale Corporation | — | EXIT | Sold out |
| 43 | COST | Costco Wholesale CORP | — | NEW | New buy |
| 44 | WY | Weyerhaeuser Co | — | EXIT | Sold out |
| 45 | INTC | Intel CORP | — | EXIT | Sold out |
| 46 | AMZN | Amazon.com INC | — | EXIT | Sold out |
| 47 | SHEL | Shell Plc-adr | — | NEW | New buy |
| 48 | LOW | Lowe's Cos INC | — | EXIT | Sold out |
| 49 | SWKS | Skyworks Solutions INC | — | EXIT | Sold out |
| 50 | URI | United Rentals INC | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-04-27 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-01-30 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-10-27 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-07 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-12 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-01-31 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-12 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-06 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-07 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-07 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-10-25 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-02 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-04 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-08 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-03 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-03 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-04-28 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-01-26 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-10-27 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-07-29 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-04-26 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-01-27 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-10-23 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-07-22 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-04-29 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-01-28 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-10-28 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-01 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-04-22 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-12 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-10-30 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-01 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-11 | Amendment | View on EDGAR |
| 2018-03-31 | 2018-05-11 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-14 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-09 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-10 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-11 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-08 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-10-31 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-03 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-16 | Amendment | View on EDGAR |
| 2016-03-31 | 2016-05-02 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-02-05 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-16 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-07-21 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-05-08 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-06 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-11-10 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-08-06 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-05-14 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-02-13 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-11-13 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-08-15 | 13F-HR | View on EDGAR |
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