SEC 13F Intelligence

Managers / Q3 2023 · view latest →

Fruth Investment Management

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

Reported Value
$337M
Q3 2023
Positions
218
Filings on Record
30
2019–present window
Filed
Oct 10, 2023
original filing

Summary

Fruth Investment Management reported $337M in U.S.-listed holdings across 218 positions for Q3 2023.

Its largest position, GWW, represents 4.0% of the portfolio.

Compared with Q2 2023, the fund opened 4 new positions and exited 4.

Portfolio Metrics

Turnover
+3.2%
vs prior filed quarter
Top-10 Concentration
+25.1%
share of reported value
Largest Position
+4.0%
Grainger Ww
New / Exited
4 / 4
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: $301MQ4 ’22: $341MQ4 ’22Q1 ’23: $346MQ2 ’23: $352MQ3 ’23: $337MQ4 ’23: $357MQ4 ’23Q1 ’24: $390MQ2 ’24: $368MQ3 ’24: $385MQ4 ’24: $363MQ4 ’24Q2 ’25: $368MQ3 ’25: $369MQ4 ’25: $371MQ1 ’26: $401MQ1 ’26filingsflow.com

Portfolio Composition

By security type
Common Stock: 91.0%Other: 7.9%ADR: 0.5%Royalty Trst: 0.3%ETP: 0.2%Closed-End Fund: 0.1%
  • Common Stock · 91.0% · $307M
  • Other · 7.9% · $27M
  • ADR · 0.5% · $2M
  • Royalty Trst · 0.3% · $960,000
  • ETP · 0.2% · $605,000
  • Closed-End Fund · 0.1% · $344,000

Quarter-over-Quarter Changes full breakdown →

vs Q2 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
ZIONZIONS BANCORPORATION COMNEW+6.1K6.1K+$212,000$212,000
CONSOL ENERGY INC.NEW+2.0K2.0K+$209,000$209,000
CHAMPIONX CORP.NEW+5.8K5.8K+$207,000$207,000
CMECME GROUP INC COMNEW+1.0K1.0K+$201,000$201,000
AEROJET ROCKETDYNE HLDGS INC C OMSOLD OUT−8.7K0−$477,000$0
CLCOLGATE-PALMOLIVE COSOLD OUT−2.7K0−$208,000$0
KELKELLOGG COMPANYSOLD OUT−3.1K0−$207,000$0
TEXTEREX CORPSOLD OUT−3.4K0−$200,000$0

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

Holdings — Q3 2023

218 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1GWWGRAINGER WW INChistory →COM3.98%$13M19.4K
2LINDE PLC COMCOM3.18%$11M28.8K
3EXMOCEXXON MOBIL CORPhistory →COM2.92%$10M83.7K
4MAMASTERCARD INChistory →COM2.49%$8M21.2K
5CVXCHEVRONTEXACO CORPhistory →COM2.31%$8M46.3K
6TSCOTRACTOR SUPPLY COMPANYhistory →COM2.19%$7M36.3K
7SBUXSTARBUCKS CORPhistory →COM2.16%$7M79.8K
8MSFTMICROSOFT CORPhistory →COM2.10%$7M22.4K
9ADPAUTO DATA PROCESSINGhistory →COM1.96%$7M27.5K
10HSYHERSHEY FOODS CORPhistory →COM1.84%$6M31.0K
11APDAIR PRODUCTS & CHEMICALShistory →COM1.82%$6M21.7K
12AAPLAPPLE, INChistory →COM1.78%$6M35.1K
13AAGILENT TECHNOLOGIEShistory →COM1.46%$5M44.1K
14DEDEERE & COhistory →COM1.45%$5M13.0K
15PEPPEPSICO INCORPORATEDhistory →COM1.45%$5M28.9K
16TXNTEXAS INSTRUMENTS INChistory →COM1.36%$5M28.9K
17TTTRANE TECHNOLOGIES PLChistory →COM1.32%$4M21.9K
18EMREMERSON ELECTRIChistory →COM1.20%$4M42.1K
19JNJJOHNSON & JOHNSONhistory →COM1.17%$4M25.4K
20OLNOLIN CORP NEWhistory →COM1.15%$4M77.7K
21EATON CORPORATIONCOM1.11%$4M17.6K
22UNPUNION PACIFIC CORPhistory →COM1.03%$3M17.0K
23AITAPPLIED INDL. TECH.COM0.99%$3M21.6K
24ABTABBOTT LABORATORIESCOM0.94%$3M32.7K
25MPCMARATHON PETE CORP COMCOM0.94%$3M20.9K
26KEYSKEYSIGHT TECHNOLOGIES INC COMCOM0.93%$3M23.8K
27MKCMC CORMICK & CO NEW VTCOM0.93%$3M41.4K
28BUNGECOM0.90%$3M28.1K
29COSTCOSTCO WHOLSALE CORP NEWCOM0.88%$3M5.3K
30SYYSYSCO CORP.COM0.85%$3M43.5K
31MURMURPHY OIL CORPCOM0.85%$3M63.1K
32CASYCASEYS GENERAL STORES INCCOM0.85%$3M10.5K
33AMATAPPLIED MATERIALS INCCOM0.84%$3M20.6K
34BF/BBROWN FORMAN CORP CL BCOM0.82%$3M48.2K
35STERIS PLCCOM0.82%$3M12.7K
36PHPARKER-HANNIFIN CORPCOM0.80%$3M6.9K
37HDHOME DEPOT INCCOM0.80%$3M8.9K
38MUSAMURPHY USA INC.COM0.79%$3M7.8K
39KMBKIMBERLY-CLARK CORPCOM0.78%$3M21.8K
40DOWDOW CHEMICALCOM0.76%$3M49.6K
41CTASCINTAS CORPCOM0.75%$3M5.3K
42DRIDARDEN RESTURANTS INCCOM0.73%$2M17.1K
43VLOVALERO ENERGYCOM0.72%$2M17.1K
44BRBROADRIDGE FINANCIALCOM0.72%$2M13.5K
45MIDDMIDDLEBY CORP THECOM0.70%$2M18.4K
46GRCGORMAN-RUPP CO COMCOM0.68%$2M69.6K
47ADIANALOG DEVICES INCCOM0.67%$2M12.9K
48SONSONOCO PRODUCTS INCCOM0.65%$2M40.4K
49CATCATERPILLAR INCCOM0.65%$2M8.0K
50MRKMERCK & CO INCCOM0.65%$2M21.2K
51ASIXADVANSIX INC COMCOM0.63%$2M68.1K
52LOWLOWES COMPANIES INCCOM0.63%$2M10.2K
53SLBSCHLUMBERGER LTD FCOM0.62%$2M36.1K
54MSAMINE SAFTEY APPLIANCE COCOM0.61%$2M13.0K
55KEXKIRBY CORPCOM0.60%$2M24.3K
56DISDISNEY WALT HOLDING COCOM0.59%$2M24.8K
57HONHONEYWELL INC.COM0.56%$2M10.3K
58ELLAUDER ESTEE CORP CL ACOM0.56%$2M13.1K
59AINALBANY INT'L CORP.COM0.56%$2M21.7K
60CPKCHESAPEAKE UTIL CORPCOM0.55%$2M19.0K
61KOCOCA-COLA COMPANYCOM0.54%$2M32.3K
62NSCNORFOLK SOUTHERN CORPCOM0.53%$2M9.1K
63COPCONOCOPHILLIPSCOM0.52%$2M14.6K
64GISGENERAL MILLS INCCOM0.51%$2M27.0K
65AXPAMERICAN EXPRESS CO.COM0.51%$2M11.6K
66TKRTIMKEN COMPANYCOM0.50%$2M23.1K
67WESTROCK CO COMCOM0.50%$2M47.3K
68FELEFRANKLIN ELEC CO INCCOM0.49%$2M18.4K
69PSXPHILLIPS 66 COMCOM0.47%$2M13.2K
70MARATHON OIL CO.COM0.47%$2M58.8K
71IFFINTL FLAVOR & FRAGRANCESCOM0.46%$2M22.6K
72CHUBB CORPORATIONCOM0.45%$2M7.3K
73CECELANESE CORP.COM0.45%$2M12.0K
74AVTAVNET INCCOM0.44%$1M30.9K
75DU PONT E I DE NEMOUR&COCOM0.42%$1M19.0K
76OKEONEOK, INCCOM0.42%$1M22.3K
77ABBVABBVIE INC COMCOM0.41%$1M9.3K
78SYKSTRYKER CORPCOM0.41%$1M5.0K
79CTVACORTEVA INC COMCOM0.40%$1M26.5K
80PAGPENSKE AUTOMOTIVE GROUPCOM0.40%$1M8.0K
81HESHESS CORPORATIONCOM0.38%$1M8.3K
82INGERSOLL-RAND COMPANYCOM0.37%$1M19.3K
83ATOATMOS ENERGY CORPCOM0.35%$1M11.3K
84MTUSTIMKENSTEEL CORP COMCOM0.35%$1M54.8K
85METMETLIFE INCCOM0.35%$1M18.6K
86CANADIAN PAC LTD NEWCOM0.35%$1M15.7K
87NEMNEWMONT GOLDCORPCOM0.34%$1M31.1K
88LLYLILLY ELI & COMPANYCOM0.33%$1M2.1K
89O-I GLASS, INC.COM0.33%$1M66.9K
90DOVDOVER CORPORATIONCOM0.33%$1M8.0K
91US STEEL CORP.COM0.31%$1M32.6K
92ATIALLEGHENY TECH INCCOM0.31%$1M25.4K
93MKLMARKEL CORP.COM0.30%$1M685
94NTRNUTRIEN LTD CO COMCOM0.30%$1M16.2K
95CLFCLEVELAND-CLIFFS, INC.COM0.30%$997,00063.8K
96FISFIDELITY NATL INFO SVCSCOM0.29%$982,00017.8K
97ENBENBRIDGE INC.COM0.29%$962,00028.7K
98PFEPFIZER INCCOM0.28%$945,00028.5K
99BMYBRISTOL MYERS SQUIBB COCOM0.28%$937,00016.1K
100STLDSTEEL DYNAMICS INCCOM0.27%$922,0008.6K

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 2022$341M225Jan 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 ↗.