SEC 13F Intelligence

Managers / Q2 2023 · view latest →

Fruth Investment Management

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

Reported Value
$352M
Q2 2023
Positions
218
Filings on Record
30
2019–present window
Filed
Jul 25, 2023
original filing

Summary

Fruth Investment Management reported $352M in U.S.-listed holdings across 218 positions for Q2 2023.

Its largest position, GWW, represents 4.4% of the portfolio.

Compared with Q1 2023, the fund opened 2 new positions and exited 5.

Portfolio Metrics

Turnover
+3.3%
vs prior filed quarter
Top-10 Concentration
+25.5%
share of reported value
Largest Position
+4.4%
Grainger Ww
New / Exited
2 / 5
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: 91.3%Other: 7.6%ADR: 0.5%Royalty Trst: 0.3%ETP: 0.2%Closed-End Fund: 0.1%
  • Common Stock · 91.3% · $321M
  • Other · 7.6% · $27M
  • ADR · 0.5% · $2M
  • Royalty Trst · 0.3% · $1M
  • ETP · 0.2% · $655,000
  • Closed-End Fund · 0.1% · $381,000

Quarter-over-Quarter Changes full breakdown →

vs Q1 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
TEXTEREX CORPNEW+3.4K3.4K+$200,000$200,000
JOEST JOE COMPANYNEW+4.2K4.2K+$200,000$200,000
LSCCLATTICE SEMICONDUCTOR CPSOLD OUT−2.4K0−$229,000$0
KDPKEURIG DR PEPPER INC.SOLD OUT−6.3K0−$222,000$0
PRKPARK NATIONAL CORPSOLD OUT−1.8K0−$213,000$0
VTIVANGUARD TOTAL STK MKT TSTSOLD OUT−1.0K0−$204,000$0
DVNDEVON ENERGY CP NEWSOLD OUT−4.0K0−$204,000$0
CHDNCHURCHILL DOWNS INC KYADDED+1.8K3.6K+$39,000$501,000

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

Holdings — Q2 2023

218 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1GWWGRAINGER WW INChistory →COM4.40%$15M19.6K
2LINDE PLC COMCOM3.14%$11M28.9K
3EXMOCEXXON MOBIL CORPhistory →COM2.55%$9M83.8K
4MAMASTERCARD INChistory →COM2.39%$8M21.4K
5TSCOTRACTOR SUPPLY COMPANYhistory →COM2.31%$8M36.7K
6SBUXSTARBUCKS CORPhistory →COM2.26%$8M80.3K
7HSYHERSHEY FOODS CORPhistory →COM2.21%$8M31.2K
8MSFTMICROSOFT CORPhistory →COM2.19%$8M22.6K
9CVXCHEVRONTEXACO CORPhistory →COM2.08%$7M46.4K
10AAPLAPPLE, INChistory →COM1.96%$7M35.6K
11APDAIR PRODUCTS & CHEMICALShistory →COM1.85%$7M21.8K
12ADPAUTO DATA PROCESSINGhistory →COM1.73%$6M27.7K
13PEPPEPSICO INCORPORATEDhistory →COM1.53%$5M29.0K
14AAGILENT TECHNOLOGIEShistory →COM1.51%$5M44.3K
15DEDEERE & COhistory →COM1.50%$5M13.0K
16TXNTEXAS INSTRUMENTS INChistory →COM1.48%$5M28.9K
17JNJJOHNSON & JOHNSONhistory →COM1.20%$4M25.6K
18TTTRANE TECHNOLOGIES PLChistory →COM1.19%$4M21.9K
19OLNOLIN CORP NEWhistory →COM1.14%$4M77.9K
20KEYSKEYSIGHT TECHNOLOGIES INC COMhistory →COM1.13%$4M23.8K
21EMREMERSON ELECTRIChistory →COM1.08%$4M42.2K
22EATON CORPORATIONCOM1.04%$4M18.2K
23MKCMC CORMICK & CO NEW VThistory →COM1.03%$4M41.5K
24ABTABBOTT LABORATORIEShistory →COM1.02%$4M32.8K
25UNPUNION PACIFIC CORPCOM0.99%$3M17.0K
26BF/BBROWN FORMAN CORP CL BCOM0.93%$3M48.9K
27SYYSYSCO CORP.COM0.92%$3M43.6K
28AITAPPLIED INDL. TECH.COM0.89%$3M21.6K
29KMBKIMBERLY-CLARK CORPCOM0.86%$3M21.9K
30AMATAPPLIED MATERIALS INCCOM0.85%$3M20.8K
31COSTCOSTCO WHOLSALE CORP NEWCOM0.82%$3M5.4K
32DRIDARDEN RESTURANTS INCCOM0.82%$3M17.2K
33STERIS PLCCOM0.81%$3M12.7K
34HDHOME DEPOT INCCOM0.79%$3M8.9K
35MIDDMIDDLEBY CORP THECOM0.77%$3M18.4K
36PHPARKER-HANNIFIN CORPCOM0.77%$3M7.0K
37BUNGECOM0.76%$3M28.2K
38DOWDOW CHEMICALCOM0.75%$3M49.8K
39CTASCINTAS CORPCOM0.75%$3M5.3K
40ELLAUDER ESTEE CORP CL ACOM0.73%$3M13.1K
41CASYCASEYS GENERAL STORES INCCOM0.73%$3M10.5K
42ADIANALOG DEVICES INCCOM0.72%$3M13.0K
43MRKMERCK & CO INCCOM0.70%$2M21.3K
44MURMURPHY OIL CORPCOM0.69%$2M63.6K
45MUSAMURPHY USA INC.COM0.69%$2M7.8K
46MPCMARATHON PETE CORP COMCOM0.69%$2M20.9K
47SONSONOCO PRODUCTS INCCOM0.68%$2M40.6K
48ASIXADVANSIX INC COMCOM0.68%$2M68.2K
49BRBROADRIDGE FINANCIALCOM0.68%$2M14.4K
50LOWLOWES COMPANIES INCCOM0.66%$2M10.3K
51MSAMINE SAFTEY APPLIANCE COCOM0.64%$2M13.0K
52CPKCHESAPEAKE UTIL CORPCOM0.64%$2M19.0K
53DISDISNEY WALT HOLDING COCOM0.63%$2M24.8K
54HONHONEYWELL INC.COM0.61%$2M10.4K
55TKRTIMKEN COMPANYCOM0.60%$2M23.1K
56GISGENERAL MILLS INCCOM0.59%$2M27.2K
57NSCNORFOLK SOUTHERN CORPCOM0.59%$2M9.2K
58AXPAMERICAN EXPRESS CO.COM0.58%$2M11.7K
59AINALBANY INT'L CORP.COM0.58%$2M21.7K
60GRCGORMAN-RUPP CO COMCOM0.57%$2M69.8K
61VLOVALERO ENERGYCOM0.57%$2M17.1K
62CATCATERPILLAR INCCOM0.57%$2M8.1K
63KOCOCA-COLA COMPANYCOM0.56%$2M32.8K
64KEXKIRBY CORPCOM0.54%$2M24.6K
65FELEFRANKLIN ELEC CO INCCOM0.54%$2M18.4K
66IFFINTL FLAVOR & FRAGRANCESCOM0.51%$2M22.6K
67SLBSCHLUMBERGER LTD FCOM0.50%$2M36.1K
68AVTAVNET INCCOM0.44%$2M30.9K
69SYKSTRYKER CORPCOM0.43%$2M5.0K
70CTVACORTEVA INC COMCOM0.43%$2M26.6K
71COPCONOCOPHILLIPSCOM0.43%$2M14.7K
72O-I GLASS, INC.COM0.41%$1M67.0K
73CHUBB CORPORATIONCOM0.40%$1M7.3K
74CECELANESE CORP.COM0.40%$1M12.1K
75WESTROCK CO COMCOM0.39%$1M47.6K
76DU PONT E I DE NEMOUR&COCOM0.39%$1M19.1K
77MARATHON OIL CO.COM0.39%$1M59.1K
78PAGPENSKE AUTOMOTIVE GROUPCOM0.38%$1M8.0K
79NEMNEWMONT GOLDCORPCOM0.38%$1M31.1K
80ATOATMOS ENERGY CORPCOM0.38%$1M11.4K
81ABBVABBVIE INC COMCOM0.37%$1M9.8K
82OKEONEOK, INCCOM0.37%$1M21.3K
83PSXPHILLIPS 66 COMCOM0.36%$1M13.3K
84INGERSOLL-RAND COMPANYCOM0.36%$1M19.4K
85CANADIAN PAC LTD NEWCOM0.36%$1M15.7K
86MTUSTIMKENSTEEL CORP COMCOM0.34%$1M54.9K
87DOVDOVER CORPORATIONCOM0.33%$1M8.0K
88HESHESS CORPORATIONCOM0.32%$1M8.3K
89ATIALLEGHENY TECH INCCOM0.32%$1M25.4K
90NGVTINGEVITY CORP COMCOM0.31%$1M18.7K
91CLFCLEVELAND-CLIFFS, INC.COM0.30%$1M64.0K
92ENBENBRIDGE INC.COM0.30%$1M28.9K
93PFEPFIZER INCCOM0.30%$1M28.9K
94METMETLIFE INCCOM0.30%$1M18.8K
95BMYBRISTOL MYERS SQUIBB COCOM0.29%$1M16.1K
96GTGOODYEAR TIRE & RUBBERCOM0.29%$1M73.7K
97CSXCSX CORPCOM0.29%$1M29.5K
98FISFIDELITY NATL INFO SVCSCOM0.28%$997,00018.2K
99LLYLILLY ELI & COMPANYCOM0.28%$984,0002.1K
100CMCCOMMERCIAL METALS COCOM0.27%$958,00018.2K

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 ↗.