Small Williston Basin Fund Is Big on Oil Holdings, Big on Price

by Cynthia Wilson | July 27, 2011 9:41 am

The Integrity Williston Basin Mid-North America Fund (MUTF:ICPAX[1]) is an IRA fund that focuses on the natural resources of America’s upper midwest. Specifically, it invests in the stocks of domestic and foreign issuers that are participating or benefiting from the development of the resources in the Williston Basin area and/or Mid-North America region. The Williston Basin is a large sedimentary basin in eastern Montana, western North and South Dakota, and southern Saskatchewan known for its rich deposits of petroleum and potash. The fund may include companies still in the development stage or recently began operations and do not have significant revenues.

Investing Strategy: Currently, every cent of the fund’s assets is invested in stocks of companies that maintain their principal place of business in the Williston Basin and Mid-Northern America region. Under normal conditions, the fund will invest at least 80% of its net assets in these stocks.

Expense Ratio: The fund has a 2.04 expense ratio before reimbursements and waivers, as well as a front load fee of 5%, making it very expensive. It has a Morningstar Rating of five stars.

Top 5 Holdings: The top stocks in the Integrity Williston Basin Mid-North America Fund include oilfield services company Baker Hughes Inc. (NYSE:BHI[2]) at 5.07%, oil and gas field equipment provider National Oilwell Varco, Inc. (NYSE:NOV[3]) at 4.98%, oilfield and power transmissions supplier Lufkin Industries, Inc. (NASDAQ:LUFK[4]) at 4.62%, exploration and production company Brigham Exploration Company (NASDAQ:BEXP[5]) at 4.48%, and well services provider Basic Energy Services, Inc. (NYSE:BAS[6]) at 4.26%.

Returns: The Integrity Williston Basin Mid North America Fund’s 12-month return of about 70% outperformed the broader market’s 21% return over the same period. However, the fund lost about 44% over the past five years, while the S&P 500 had a return of about 8% and the Dow Jones Industrial Average had an approximate return of 16% during the same period.

Other Fund Statistics

Endnotes:
  1. ICPAX: http://studio-5.financialcontent.com/investplace/quote?Symbol=ICPAX
  2. BHI: http://studio-5.financialcontent.com/investplace/quote?Symbol=BHI
  3. NOV: http://studio-5.financialcontent.com/investplace/quote?Symbol=NOV
  4. LUFK: http://studio-5.financialcontent.com/investplace/quote?Symbol=LUFK
  5. BEXP: http://studio-5.financialcontent.com/investplace/quote?Symbol=BEXP
  6. BAS: http://studio-5.financialcontent.com/investplace/quote?Symbol=BAS

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