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

-4.99%

1 Year Return

+14.87%

3 Year Return

+37.9%

5 Year Return

–

10 Year Return

–

AUM

$338M

AUM Growth

+$149M (+79%)

Cap. Flow

+$153M

Cap. Flow % of AUM

45.23%

Top 10 Holdings % Top 10 Hldgs %

6.44%

Holding

648

New

314

Increased

Reduced

Closed

202

Top Buys

1	Becton Dickinson BDX	$2.43M
2	HP HPQ	$2.28M
3	Comcast CMCSA	$2.23M
4	McDonald's MCD	$2.1M
5	Cincinnati Financial CINF	$2.02M

Top Sells

1	ProShares Short VIX Short-Term Futures ETF SVXY	$2.62M
2	AES AES	$1.75M
3	Nasdaq NDAQ	$1.7M
4	MSCI MSCI	$1.48M
5	Sensata Technologies ST	$1.46M

Sector Composition

1	Industrials	16.9%
2	Technology	16.29%
3	Financials	12.7%
4	Consumer Discretionary	12.52%
5	Healthcare	8.84%

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
376	376 Zoom ZM $25B	$320K	0.09%	4,581 +827	+22%	+$57.8K
377	377 MDU Resources MDU $3.31B	$315K	0.09%	29,055 -6,760	-19%	-$73.3K
378	378 Hubbell HUBB $23.2B	$312K	0.09%	994 -154	-13%	-$48.3K
379	379 MGM Resorts International MGM $9.98B	$300K	0.09%	8,164 +1,035	+15%	+$38K
380	380 Roku ROKU $14B	$297K	0.09%	+4,208	New	+$297K
381	381 Acuity Brands AYI $10.4B	$297K	0.09%	+1,742	New	+$297K
382	382 International Flavors & Fragrances IFF $16.9B	$296K	0.09%	4,340 +561	+15%	+$38.2K
383	383 Darling Ingredients DAR $5.07B	$290K	0.09%	5,553 -5,540	-50%	-$289K
384	384 Rocket Companies RKT $42.6B	$288K	0.09%	35,220 +7,960	+29%	+$65.1K
385	385 Avery Dennison AVY $13.1B	$287K	0.08%	+1,569	New	+$287K
386	386 Kilroy Realty KRC $5.05B	$278K	0.08%	+8,791	New	+$278K
387	387 Equity Lifestyle Properties ELS $12B	$278K	0.08%	4,360 +1,024	+31%	+$65.2K
388	388 Cognex CGNX $7.55B	$275K	0.08%	6,468 -1,762	-21%	-$74.8K
389	389 Reynolds Consumer Products REYN $5B	$273K	0.08%	+10,635	New	+$273K
390	390 Humana HUM $37B	$266K	0.08%	546 -1,751	-76%	-$852K
391	391 Cognizant CTSH $35.1B	$265K	0.08%	3,905 -1,528	-28%	-$104K
392	392 SiteOne Landscape Supply SITE $6.82B	$263K	0.08%	+1,612	New	+$263K
393	393 Flowers Foods FLO $3.13B	$262K	0.08%	+11,802	New	+$262K
394	394 Confluent CFLT $6.67B	$261K	0.08%	8,829 +2,870	+48%	+$85K
395	395 Armstrong World Industries AWI $8.58B	$261K	0.08%	3,630 +53	+1%	+$3.82K
396	396 Carter's CRI $1.05B	$259K	0.08%	+3,747	New	+$259K
397	397 MongoDB MDB $26.4B	$259K	0.08%	+748	New	+$259K
398	398 Enphase Energy ENPH $5.18B	$259K	0.08%	+2,152	New	+$259K
399	399 NetApp NTAP $23.7B	$255K	0.08%	+3,361	New	+$255K
400	PARA 400 DELISTED Paramount Global Class B PARA	$253K	0.07%	+19,623	New	+$253K