OTL

Oak Thistle LLC Portfolio holdings

AUM $679M

1-Year Return 14.87%

2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4

This Quarter Return

-3.88%

1 Year Return

+14.87%

3 Year Return

+37.9%

5 Year Return

–

10 Year Return

–

AUM

$497M

AUM Growth

+$160M (+47%)

Cap. Flow

+$165M

Cap. Flow % of AUM

33.25%

Top 10 Holdings % Top 10 Hldgs %

9.9%

Holding

587

New

195

Increased

140

Reduced

Closed

189

Top Buys

1	MetLife MET	$5.69M
2	Alphabet (Google) Class A GOOGL	$5.62M
3	Lockheed Martin LMT	$5.26M
4	CRH CRH	$5.18M
5	Thermo Fisher Scientific TMO	$4.25M

Top Sells

1	Philip Morris PM	$2.95M
2	O'Reilly Automotive ORLY	$2.86M
3	Okta OKTA	$2.71M
4	Wynn Resorts WYNN	$2.41M
5	L3Harris LHX	$2.39M

Sector Composition

1	Industrials	18.03%
2	Financials	15.28%
3	Technology	15%
4	Consumer Discretionary	14.78%
5	Healthcare	9.99%

Communication Services

Advertising Agencies

Broadcasting

Electronic Gaming & Multimedia

Entertainment

Internet Content & Information

Publishing

Telecom Services

Consumer Discretionary

Apparel Manufacturing

Apparel Retail

Auto Manufacturers

Auto Parts

Auto & Truck Dealerships

Department Stores

Footwear & Accessories

Furnishings, Fixtures & Appliances

Gambling

Home Improvement Retail

Internet Retail

Leisure

Lodging

Luxury Goods

Packaging & Containers

Personal Services

Recreational Vehicles

Residential Construction

Resorts & Casinos

Restaurants

Specialty Retail

Textile Manufacturing

Travel Services

Consumer Staples

Beverages - Brewers

Beverages - Non-Alcoholic

Beverages - Wineries & Distilleries

Confectioners

Discount Stores

Education & Training Services

Farm Products

Food Distribution

Grocery Stores

Household & Personal Products

Packaged Foods

Tobacco

Energy

Oil & Gas Drilling

Oil & Gas Equipment & Services

Oil & Gas Exploration & Production

Oil & Gas Integrated

Oil & Gas Midstream

Oil & Gas Refining & Marketing

Thermal Coal

Uranium

Financials

Asset Management

Banks - Diversified

Banks - Regional

Capital Markets

Credit Services

Diversified Insurance

Financial Conglomerates

Financial Data & Stock Exchanges

Insurance Brokers

Life Insurance

Mortgage Finance

Property & Casualty Insurance

Reinsurance

Shell Companies

Specialty - Insurance

Healthcare

Biotechnology

Diagnostics & Research

Drug Manufacturers - General

Drug Manufacturers - Specialty & Generic

Healthcare Plans

Health Information Services

Medical Care Facilities

Medical Devices

Medical Distribution

Medical Instruments & Supplies

Pharmaceutical Retailers

Industrials

Aerospace & Defense

Airlines

Airports & Air Services

Building Products & Equipment

Business Equipment & Supplies

Conglomerates

Consulting Services

Electrical Equipment & Parts

Engineering & Construction

Farm & Heavy Construction Machinery

Industrial Distribution

Infrastructure Operations

Integrated Freight & Logistics

Marine Shipping

Metal Fabrication

Pollution & Treatment Controls

Railroads

Rental & Leasing Services

Security & Protection Services

Specialty Business Services

Specialty Industrial Machinery

Staffing & Employment Services

Tools & Accessories

Trucking

Waste Management

Materials

Agricultural Inputs

Aluminum

Building Materials

Chemicals

Coking Coal

Copper

Gold

Lumber & Wood Production

Other Industrial Metals & Mining

Other Precious Metals & Mining

Paper & Paper Products

Silver

Specialty Chemicals

Steel

Real Estate

Diversified REIT

Healthcare Facilities REIT

Hotel & Motel REIT

Industrial REIT

Mortgage REIT

Office REIT

Real Estate Development

Real Estate Diversified

Real Estate Services

Residential REIT

Retail REIT

Specialty REIT

Technology

Communication Equipment

Computer Hardware

Consumer Electronics

Electronic Components

Electronics & Computer Distribution

Information Technology Services

Scientific & Technical Instruments

Semiconductor Equipment & Materials

Semiconductors

Software - Application

Software - Infrastructure

Solar

Utilities

Diversified Utilities

Electric Utilities

Gas Utilities

Independent Power Producers

Renewable Electricity

Water Utilities

#	Name	Market Value	Portfolio Weight	Shares or Principal	Shares Change %	Capital Flow
326	326 Elastic ESTC $9.21B	$398K	0.08%	4,464 +863	+24%	+$76.9K
327	327 Zscaler ZS $42.7B	$396K	0.08%	+1,997	New	+$396K
328	328 WEX WEX $5.87B	$392K	0.08%	+2,495	New	+$392K
329	329 Owens Corning OC $13B	$388K	0.08%	+2,716	New	+$388K
330	330 Aecom ACM $16.8B	$383K	0.08%	+4,126	New	+$383K
331	331 Southern Company SO $101B	$376K	0.08%	+4,085	New	+$376K
332	332 CBRE Group CBRE $48.9B	$369K	0.07%	+2,819	New	+$369K
333	333 AutoZone AZO $70.6B	$366K	0.07%	96 -283	-75%	-$1.08M
334	334 Regal Rexnord RRX $9.66B	$365K	0.07%	3,208 +1,616	+102%	+$184K
335	335 Morningstar MORN $10.8B	$360K	0.07%	1,202 -3,074	-72%	-$922K
336	336 Revvity RVTY $10.1B	$358K	0.07%	3,382 +540	+19%	+$57.1K
337	337 Spotify SPOT $146B	$356K	0.07%	+648	New	+$356K
338	338 Arrow Electronics ARW $6.57B	$354K	0.07%	+3,412	New	+$354K
339	339 ManpowerGroup MAN $1.91B	$354K	0.07%	+6,109	New	+$354K
340	340 NetApp NTAP $23.7B	$352K	0.07%	4,007 +425	+12%	+$37.3K
341	341 Civitas Resources CIVI $3.19B	$351K	0.07%	10,058 +4,962	+97%	+$173K
342	PYCR 342 DELISTED Paycor HCM, Inc. Common Stock PYCR	$350K	0.07%	+15,599	New	+$350K
343	343 Columbia Sportswear COLM $3.09B	$347K	0.07%	+4,586	New	+$347K
344	344 Allison Transmission ALSN $7.53B	$345K	0.07%	+3,609	New	+$345K
345	345 AGCO AGCO $8.28B	$339K	0.07%	+3,661	New	+$339K
346	EXE 346 Expand Energy Corporation Common Stock EXE $22.7B	$339K	0.07%	3,041 -870	-22%	-$96.8K
347	347 Cognex CGNX $7.55B	$336K	0.07%	11,263 -1,256	-10%	-$37.5K
348	348 Northrop Grumman NOC $83.2B	$334K	0.07%	653 -110	-14%	-$56.3K
349	349 Doximity DOCS $13B	$333K	0.07%	+5,741	New	+$333K
350	350 L3Harris LHX $51B	$331K	0.07%	1,583 -11,397	-88%	-$2.39M