KEATING INVESTMENT COUNSELORS INC

PrivateCIK: 1020580

Location

DELRAY BEACH, FL

Positions

$364.14M

Total AUM (reported)

12.85M

Total Shares

Allocation by class

ETF$185.81M51.0%

COM$178.34M49.0%

Portfolio Concentration

Top 3$185.81M51.0%

4–10$77.72M21.3%

11–25$74.82M20.5%

Rest$25.79M7.1%

Top 3 weight

51.0%

Top 10 weight

72.4%

Voting Authority Distribution

Total shares with voting rights: 12.85M

Sole

Full voting authority

12.22M

% of voting shares95.1%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

629.69K

% of voting shares4.9%

Investment Discretion (by position count)

Sole59

Shared0

Other0

Dominant voting typeSole · 95.1% of voting shares

Institutional Holdings59

Rows:

Keating Active ETF

SOLE

ETF

Shares3.24M

TypeSH

Market value$101.12M

27.77%

Sole

3.20M

Shared

0.00

None

39.57K

iShares 0-5 year TIPS Bond ETF

SOLE

ETF

Shares623.78K

TypeSH

Market value$63.73M

17.50%

Sole

590.15K

Shared

0.00

None

33.63K

SPDR Bloomberg 1-3 Month T-Bil

SOLE

ETF

Shares228.76K

TypeSH

Market value$20.96M

5.76%

Sole

223.21K

Shared

0.00

None

5.56K

Barrick Mining Corporation

SOLE

COM

Shares433.64K

TypeSH

Market value$15.93M

4.37%

Sole

393.49K

Shared

0.00

None

40.15K

Agnico Eagle Mines Limited

SOLE

COM

Shares88.38K

TypeSH

Market value$13.71M

3.76%

Sole

79.88K

Shared

0.00

None

8.50K

Oceaneering International Inc

SOLE

COM

Shares333.78K

TypeSH

Market value$13.52M

3.71%

Sole

305.83K

Shared

0.00

None

27.95K

Vodafone Group PLC New-SP ADR

SOLE

COM

Shares682.58K

TypeSH

Market value$9.03M

2.48%

Sole

630.15K

Shared

0.00

None

52.42K

GSK PLC

SOLE

COM

Shares166.82K

TypeSH

Market value$8.74M

2.40%

Sole

151.72K

Shared

0.00

None

15.10K

Carrefour SA

SOLE

COM

Shares2.30M

TypeSH

Market value$8.53M

2.34%

Sole

2.15M

Shared

0.00

None

152.43K

Suncor Energy Inc

SOLE

COM

Shares153.74K

TypeSH

Market value$8.25M

2.27%

Sole

130.04K

Shared

0.00

None

23.70K

TotalEnergies SE

SOLE

COM

Shares101.46K

TypeSH

Market value$7.89M

2.17%

Sole

92.56K

Shared

0.00

None

8.90K

Equinor ASA

SOLE

COM

Shares242.64K

TypeSH

Market value$7.62M

2.09%

Sole

217.36K

Shared

0.00

None

25.27K

Verizon Communications Inc

SOLE

COM

Shares145.63K

TypeSH

Market value$6.17M

1.69%

Sole

134.60K

Shared

0.00

None

11.03K

J Sainsbury PLC

SOLE

COM

Shares337.73K

TypeSH

Market value$5.79M

1.59%

Sole

314.16K

Shared

0.00

None

23.57K

Liberty Global PLC

SOLE

COM

Shares513.96K

TypeSH

Market value$5.65M

1.55%

Sole

487.11K

Shared

0.00

None

26.85K

Talos Energy Inc

SOLE

COM

Shares424.91K

TypeSH

Market value$5.49M

1.51%

Sole

412.06K

Shared

0.00

None

12.85K

Lockheed Martin Corp

SOLE

COM

Shares10.45K

TypeSH

Market value$5.32M

1.46%

Sole

9.27K

Shared

0.00

None

1.18K

Unilever PLC

SOLE

COM

Shares88.38K

TypeSH

Market value$5.31M

1.46%

Sole

82.53K

Shared

0.00

None

5.84K

Pan American Silver Corp

SOLE

COM

Shares116.77K

TypeSH

Market value$5.23M

1.44%

Sole

112.62K

Shared

0.00

None

4.15K

Transocean Ltd.

SOLE

COM

Shares890.15K

TypeSH

Market value$4.35M

1.20%

Sole

857.15K

Shared

0.00

None

33K

Seabridge Gold Inc

SOLE

COM

Shares156.23K

TypeSH

Market value$4.02M

1.10%

Sole

145.61K

Shared

0.00

None

10.63K

United Parcel Service Inc

SOLE

COM

Shares31.83K

TypeSH

Market value$3.42M

0.94%

Sole

29.83K

Shared

0.00

None

Molson Coors Beverage

SOLE

COM

Shares86.54K

TypeSH

Market value$3.37M

0.93%

Sole

79.89K

Shared

0.00

None

6.65K

Cal-Maine Foods Inc

SOLE

COM

Shares33.75K

TypeSH

Market value$2.72M

0.75%

Sole

33.18K

Shared

0.00

None

575.00

Lamb Weston Holdings Inc

SOLE

COM

Shares57.28K

TypeSH

Market value$2.47M

0.68%

Sole

54.71K

Shared

0.00

None

2.58K

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	None
Keating Active ETFSOLE	ETF	3.24M	SH	$101.12M 27.77%	3.20M	39.57K
iShares 0-5 year TIPS Bond ETFSOLE	ETF	623.78K	SH	$63.73M 17.50%	590.15K	33.63K
SPDR Bloomberg 1-3 Month T-BilSOLE	ETF	228.76K	SH	$20.96M 5.76%	223.21K	5.56K
Barrick Mining CorporationSOLE	COM	433.64K	SH	$15.93M 4.37%	393.49K	40.15K
Agnico Eagle Mines LimitedSOLE	COM	88.38K	SH	$13.71M 3.76%	79.88K	8.50K
Oceaneering International IncSOLE	COM	333.78K	SH	$13.52M 3.71%	305.83K	27.95K
Vodafone Group PLC New-SP ADRSOLE	COM	682.58K	SH	$9.03M 2.48%	630.15K	52.42K
GSK PLCSOLE	COM	166.82K	SH	$8.74M 2.40%	151.72K	15.10K
Carrefour SASOLE	COM	2.30M	SH	$8.53M 2.34%	2.15M	152.43K
Suncor Energy IncSOLE	COM	153.74K	SH	$8.25M 2.27%	130.04K	23.70K
TotalEnergies SESOLE	COM	101.46K	SH	$7.89M 2.17%	92.56K	8.90K
Equinor ASASOLE	COM	242.64K	SH	$7.62M 2.09%	217.36K	25.27K
Verizon Communications IncSOLE	COM	145.63K	SH	$6.17M 1.69%	134.60K	11.03K
J Sainsbury PLCSOLE	COM	337.73K	SH	$5.79M 1.59%	314.16K	23.57K
Liberty Global PLCSOLE	COM	513.96K	SH	$5.65M 1.55%	487.11K	26.85K
Talos Energy IncSOLE	COM	424.91K	SH	$5.49M 1.51%	412.06K	12.85K
Lockheed Martin CorpSOLE	COM	10.45K	SH	$5.32M 1.46%	9.27K	1.18K
Unilever PLCSOLE	COM	88.38K	SH	$5.31M 1.46%	82.53K	5.84K
Pan American Silver CorpSOLE	COM	116.77K	SH	$5.23M 1.44%	112.62K	4.15K
Transocean Ltd.SOLE	COM	890.15K	SH	$4.35M 1.20%	857.15K	33K
Seabridge Gold IncSOLE	COM	156.23K	SH	$4.02M 1.10%	145.61K	10.63K
United Parcel Service IncSOLE	COM	31.83K	SH	$3.42M 0.94%	29.83K	2K
Molson Coors BeverageSOLE	COM	86.54K	SH	$3.37M 0.93%	79.89K	6.65K
Cal-Maine Foods IncSOLE	COM	33.75K	SH	$2.72M 0.75%	33.18K	575.00
Lamb Weston Holdings IncSOLE	COM	57.28K	SH	$2.47M 0.68%	54.71K	2.58K

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