SEC 13F Intelligence

Managers / Q1 2023 · view latest →

Fruth Investment Management

CIK 0001416856 · 820 GESSNER, SUITE 1640, HOUSTON, TX, 77024 · 713-464-2283

Reported Value
$346M
Q1 2023
Positions
221
Filings on Record
30
2019–present window
Filed
Apr 26, 2023
original filing

Summary

Fruth Investment Management reported $346M in U.S.-listed holdings across 221 positions for Q1 2023.

Its largest position, GWW, represents 3.9% of the portfolio.

Compared with Q4 2022, the fund opened 4 new positions and exited 8.

Portfolio Metrics

Turnover
+4.0%
vs prior filed quarter
Top-10 Concentration
+24.9%
share of reported value
Largest Position
+3.9%
Grainger Ww
New / Exited
4 / 8
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $212MQ4 ’18Q1 ’19: $239MQ2 ’19: $250MQ3 ’19: $249MQ4 ’19: $264MQ4 ’19Q1 ’20: $195MQ2 ’20: $237MQ3 ’20: $250MQ4 ’20: $287MQ4 ’20Q1 ’21: $319MQ2 ’21: $335MQ3 ’21: $325MQ4 ’21: $365MQ4 ’21Q1 ’22: $362MQ2 ’22: $365MQ3 ’22: $301MQ1 ’23: $346MQ1 ’23Q2 ’23: $352MQ3 ’23: $337MQ4 ’23: $357MQ1 ’24: $390MQ1 ’24Q2 ’24: $368MQ3 ’24: $385MQ4 ’24: $363MQ2 ’25: $368MQ2 ’25Q3 ’25: $369MQ4 ’25: $371MQ1 ’26: $401Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 91.5%Other: 7.2%ADR: 0.6%Royalty Trst: 0.3%ETP: 0.3%Closed-End Fund: 0.1%
  • Common Stock · 91.5% · $317M
  • Other · 7.2% · $25M
  • ADR · 0.6% · $2M
  • Royalty Trst · 0.3% · $1M
  • ETP · 0.3% · $954,000
  • Closed-End Fund · 0.1% · $394,000

Quarter-over-Quarter Changes full breakdown →

vs Q4 2022 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
LSCCLATTICE SEMICONDUCTOR CPNEW+2.4K2.4K+$229,000$229,000
ITWILLINOIS TOOL WORKSNEW+900900+$219,000$219,000
RLRALPH LAUREN CORP.NEW+1.8K1.8K+$210,000$210,000
VTIVANGUARD TOTAL STK MKT TSTNEW+1.0K1.0K+$204,000$204,000
ZIONZIONS BANCORPORATION COMSOLD OUT−6.1K0−$299,000$0
USBUS BANCORP DELSOLD OUT−5.5K0−$239,000$0
TPLTEX PAC LAND SUB CTFSOLD OUT−1000−$234,000$0
HTOSJW CORPSOLD OUT−2.6K0−$211,000$0

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q1 2023

221 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1GWWGRAINGER WW INChistory →COM3.92%$14M19.7K
2LINDE PLC COMCOM2.97%$10M28.9K
3EXMOCEXXON MOBIL CORPhistory →COM2.66%$9M83.9K
4TSCOTRACTOR SUPPLY COMPANYhistory →COM2.50%$9M36.8K
5SBUXSTARBUCKS CORPhistory →COM2.42%$8M80.5K
6HSYHERSHEY FOODS CORPhistory →COM2.29%$8M31.2K
7MAMASTERCARD INChistory →COM2.25%$8M21.5K
8CVXCHEVRONTEXACO CORPhistory →COM2.19%$8M46.4K
9MSFTMICROSOFT CORPhistory →COM1.89%$7M22.6K
10APDAIR PRODUCTS & CHEMICALShistory →COM1.81%$6M21.8K
11ADPAUTO DATA PROCESSINGhistory →COM1.78%$6M27.7K
12AAGILENT TECHNOLOGIEShistory →COM1.77%$6M44.3K
13AAPLAPPLE, INChistory →COM1.70%$6M35.6K
14TXNTEXAS INSTRUMENTS INChistory →COM1.56%$5M28.9K
15DEDEERE & COhistory →COM1.55%$5M13.0K
16PEPPEPSICO INCORPORATEDhistory →COM1.53%$5M29.1K
17OLNOLIN CORP NEWhistory →COM1.26%$4M78.4K
18TTTRANE TECHNOLOGIES PLChistory →COM1.17%$4M22.0K
19JNJJOHNSON & JOHNSONhistory →COM1.14%$4M25.6K
20KEYSKEYSIGHT TECHNOLOGIES INC COMhistory →COM1.11%$4M23.8K
21EMREMERSON ELECTRIChistory →COM1.07%$4M42.4K
22MKCMC CORMICK & CO NEW VTCOM1.00%$3M41.5K
23UNPUNION PACIFIC CORPCOM0.99%$3M17.0K
24SYYSYSCO CORP.COM0.98%$3M43.9K
25ABTABBOTT LABORATORIESCOM0.96%$3M32.8K
26ELLAUDER ESTEE CORP CL ACOM0.93%$3M13.1K
27BF/BBROWN FORMAN CORP CL BCOM0.91%$3M49.2K
28EATON CORPORATIONCOM0.90%$3M18.3K
29AITAPPLIED INDL. TECH.COM0.89%$3M21.6K
30KMBKIMBERLY-CLARK CORPCOM0.86%$3M22.1K
31MPCMARATHON PETE CORP COMCOM0.81%$3M20.9K
32DOWDOW CHEMICALCOM0.79%$3M50.0K
33BUNGECOM0.78%$3M28.3K
34MIDDMIDDLEBY CORP THECOM0.78%$3M18.4K
35COSTCOSTCO WHOLSALE CORP NEWCOM0.77%$3M5.4K
36DRIDARDEN RESTURANTS INCCOM0.77%$3M17.2K
37HDHOME DEPOT INCCOM0.76%$3M8.9K
38ASIXADVANSIX INC COMCOM0.76%$3M68.3K
39CPKCHESAPEAKE UTIL CORPCOM0.75%$3M20.3K
40ADIANALOG DEVICES INCCOM0.74%$3M13.0K
41AMATAPPLIED MATERIALS INCCOM0.74%$3M20.8K
42SONSONOCO PRODUCTS INCCOM0.72%$2M40.8K
43DISDISNEY WALT HOLDING COCOM0.72%$2M24.8K
44CTASCINTAS CORPCOM0.71%$2M5.3K
45STERIS PLCCOM0.70%$2M12.7K
46VLOVALERO ENERGYCOM0.69%$2M17.2K
47MURMURPHY OIL CORPCOM0.68%$2M63.6K
48PHPARKER-HANNIFIN CORPCOM0.68%$2M7.0K
49GISGENERAL MILLS INCCOM0.67%$2M27.3K
50CASYCASEYS GENERAL STORES INCCOM0.66%$2M10.5K
51MRKMERCK & CO INCCOM0.66%$2M21.3K
52BRBROADRIDGE FINANCIALCOM0.62%$2M14.6K
53IFFINTL FLAVOR & FRAGRANCESCOM0.60%$2M22.6K
54LOWLOWES COMPANIES INCCOM0.59%$2M10.3K
55MUSAMURPHY USA INC.COM0.59%$2M7.9K
56KOCOCA-COLA COMPANYCOM0.59%$2M32.8K
57HONHONEYWELL INC.COM0.57%$2M10.4K
58NSCNORFOLK SOUTHERN CORPCOM0.56%$2M9.2K
59AINALBANY INT'L CORP.COM0.56%$2M21.7K
60AXPAMERICAN EXPRESS CO.COM0.56%$2M11.8K
61TKRTIMKEN COMPANYCOM0.55%$2M23.1K
62CATCATERPILLAR INCCOM0.54%$2M8.1K
63SLBSCHLUMBERGER LTD FCOM0.51%$2M36.2K
64GRCGORMAN-RUPP CO COMCOM0.51%$2M69.9K
65MSAMINE SAFTEY APPLIANCE COCOM0.50%$2M13.0K
66FELEFRANKLIN ELEC CO INCCOM0.50%$2M18.4K
67KEXKIRBY CORPCOM0.50%$2M24.6K
68ABBVABBVIE INC COMCOM0.47%$2M10.2K
69CTVACORTEVA INC COMCOM0.46%$2M26.6K
70NEMNEWMONT GOLDCORPCOM0.44%$2M31.1K
71O-I GLASS, INC.COM0.44%$2M67.0K
72COPCONOCOPHILLIPSCOM0.42%$1M14.7K
73WESTROCK CO COMCOM0.42%$1M47.6K
74CHUBB CORPORATIONCOM0.41%$1M7.4K
75SYKSTRYKER CORPCOM0.41%$1M5.0K
76MARATHON OIL CO.COM0.41%$1M59.1K
77AVTAVNET INCCOM0.40%$1M31.0K
78DU PONT E I DE NEMOUR&COCOM0.40%$1M19.1K
79OKEONEOK, INCCOM0.39%$1M21.3K
80PSXPHILLIPS 66 COMCOM0.39%$1M13.3K
81NGVTINGEVITY CORP COMCOM0.39%$1M18.7K
82CECELANESE CORP.COM0.38%$1M12.1K
83ATOATMOS ENERGY CORPCOM0.37%$1M11.4K
84CANADIAN PAC LTD NEWCOM0.35%$1M16.0K
85DOVDOVER CORPORATIONCOM0.35%$1M8.0K
86NTRNUTRIEN LTD CO COMCOM0.35%$1M16.2K
87PFEPFIZER INCCOM0.34%$1M29.0K
88CLFCLEVELAND-CLIFFS, INC.COM0.34%$1M64.0K
89INGERSOLL-RAND COMPANYCOM0.33%$1M19.6K
90PAGPENSKE AUTOMOTIVE GROUPCOM0.33%$1M8.0K
91BMYBRISTOL MYERS SQUIBB COCOM0.33%$1M16.3K
92HESHESS CORPORATIONCOM0.32%$1M8.4K
93ENBENBRIDGE INC.COM0.32%$1M29.1K
94METMETLIFE INCCOM0.31%$1M18.8K
95MTUSTIMKENSTEEL CORP COMCOM0.29%$1M55.1K
96ATIALLEGHENY TECH INCCOM0.29%$1M25.4K
97FISFIDELITY NATL INFO SVCSCOM0.29%$996,00018.3K
98NTRSNORTHERN TRUST CORPCOM0.28%$973,00011.1K
99STLDSTEEL DYNAMICS INCCOM0.28%$972,0008.6K
100GPCGENUINE PARTS CO COMCOM0.27%$946,0005.7K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$401M229Apr 21, 202613F-HRchanges · EDGAR ↗
Q4 2025$371M220Jan 26, 202613F-HRchanges · EDGAR ↗
Q3 2025$369M215Oct 17, 202513F-HRchanges · EDGAR ↗
Q2 2025$368M217Jul 11, 202513F-HRchanges · EDGAR ↗
Q4 2024$363M216Jan 27, 202513F-HRchanges · EDGAR ↗
Q3 2024$385M219Oct 11, 202413F-HRchanges · EDGAR ↗
Q2 2024$368M217Jul 18, 202413F-HRchanges · EDGAR ↗
Q1 2024$390M222Apr 19, 202413F-HRchanges · EDGAR ↗
Q4 2023$357M223Jan 18, 202413F-HRchanges · EDGAR ↗
Q3 2023$337M218Oct 10, 202313F-HRchanges · EDGAR ↗
Q2 2023$352M218Jul 25, 202313F-HRchanges · EDGAR ↗
Q1 2023$346M221Apr 26, 202313F-HRchanges · EDGAR ↗
Q4 2022Under review225Jan 17, 202313F-HRchanges · EDGAR ↗
Q3 2022$301M221Oct 13, 202213F-HRchanges · EDGAR ↗
Q2 2022$365M234Jul 19, 202213F-HRchanges · EDGAR ↗
Q1 2022$362M234Apr 12, 202213F-HRchanges · EDGAR ↗
Q4 2021$365M238Jan 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$325M229Oct 12, 202113F-HRchanges · EDGAR ↗
Q2 2021$335M233Jul 19, 202113F-HRchanges · EDGAR ↗
Q1 2021$319M228Apr 14, 202113F-HRchanges · EDGAR ↗
Q4 2020$287M213Jan 13, 202113F-HRchanges · EDGAR ↗
Q3 2020$250M196Oct 7, 202013F-HRchanges · EDGAR ↗
Q2 2020$237M199Jul 13, 202013F-HRchanges · EDGAR ↗
Q1 2020$195M185Apr 29, 202013F-HRchanges · EDGAR ↗
Q4 2019$264M204Jan 10, 202013F-HRchanges · EDGAR ↗
Q3 2019$249M195Oct 9, 201913F-HRchanges · EDGAR ↗
Q2 2019$250M201Jul 15, 201913F-HRchanges · EDGAR ↗
Q1 2019$239M197Apr 16, 201913F-HRchanges · EDGAR ↗
Q4 2018$212M186Jan 16, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.