SEC 13F Intelligence

Managers / Q4 2023 · view latest →

Fruth Investment Management

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

Reported Value
$357M
Q4 2023
Positions
223
Filings on Record
30
2019–present window
Filed
Jan 18, 2024
original filing

Summary

Fruth Investment Management reported $357M in U.S.-listed holdings across 223 positions for Q4 2023.

Its largest position, GWW, represents 4.5% of the portfolio.

Compared with Q3 2023, the fund opened 7 new positions and exited 2.

Portfolio Metrics

Turnover
+2.9%
vs prior filed quarter
Top-10 Concentration
+24.9%
share of reported value
Largest Position
+4.5%
Grainger Ww
New / Exited
7 / 2
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: 91.8%Other: 7.2%ADR: 0.5%ETP: 0.2%Royalty Trst: 0.2%Closed-End Fund: 0.1%
  • Common Stock · 91.8% · $328M
  • Other · 7.2% · $26M
  • ADR · 0.5% · $2M
  • ETP · 0.2% · $566,000
  • Royalty Trst · 0.2% · $554,000
  • Closed-End Fund · 0.1% · $322,000

Quarter-over-Quarter Changes full breakdown →

vs Q3 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
PRKPARK NATIONAL CORPNEW+1.8K1.8K+$239,000$239,000
USBUS BANCORP DELNEW+5.5K5.5K+$238,000$238,000
FITBFIFTH THIRD BANCORPNEW+6.4K6.4K+$219,000$219,000
CLCOLGATE-PALMOLIVE CONEW+2.7K2.7K+$215,000$215,000
RGCORGC RESOURCES INCNEW+10.4K10.4K+$211,000$211,000
KDPKEURIG DR PEPPER INC.NEW+6.1K6.1K+$203,000$203,000
NUENUCOR CORPNEW+1.1K1.1K+$200,000$200,000
BUNGESOLD OUT−28.1K0−$3M$0

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

Holdings — Q4 2023

223 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1GWWGRAINGER WW INChistory →COM4.45%$16M19.2K
2LINDE PLC COMCOM3.30%$12M28.7K
3MAMASTERCARD INChistory →COM2.53%$9M21.2K
4EXMOCEXXON MOBIL CORPhistory →COM2.35%$8M84.0K
5MSFTMICROSOFT CORPhistory →COM2.34%$8M22.2K
6TSCOTRACTOR SUPPLY COMPANYhistory →COM2.17%$8M36.1K
7SBUXSTARBUCKS CORPhistory →COM2.16%$8M80.2K
8CVXCHEVRONTEXACO CORPhistory →COM1.94%$7M46.5K
9AAPLAPPLE, INChistory →COM1.88%$7M34.9K
10ADPAUTO DATA PROCESSINGhistory →COM1.79%$6M27.4K
11AAGILENT TECHNOLOGIEShistory →COM1.72%$6M44.1K
12APDAIR PRODUCTS & CHEMICALShistory →COM1.66%$6M21.6K
13HSYHERSHEY FOODS CORPhistory →COM1.63%$6M31.2K
14TTTRANE TECHNOLOGIES PLChistory →COM1.49%$5M21.8K
15DEDEERE & COhistory →COM1.46%$5M13.0K
16TXNTEXAS INSTRUMENTS INChistory →COM1.38%$5M29.0K
17PEPPEPSICO INCORPORATEDhistory →COM1.37%$5M28.9K
18EATON CORPORATIONCOM1.18%$4M17.6K
19OLNOLIN CORP NEWhistory →COM1.17%$4M77.7K
20UNPUNION PACIFIC CORPhistory →COM1.17%$4M17.0K
21EMREMERSON ELECTRIChistory →COM1.13%$4M41.6K
22JNJJOHNSON & JOHNSONhistory →COM1.12%$4M25.5K
23KEYSKEYSIGHT TECHNOLOGIES INC COMhistory →COM1.06%$4M23.7K
24AITAPPLIED INDL. TECH.history →COM1.05%$4M21.6K
25ABTABBOTT LABORATORIEShistory →COM1.01%$4M32.7K
26COSTCOSTCO WHOLSALE CORP NEWCOM0.98%$3M5.3K
27AMATAPPLIED MATERIALS INCCOM0.93%$3M20.6K
28PHPARKER-HANNIFIN CORPCOM0.90%$3M6.9K
29SYYSYSCO CORP.COM0.88%$3M43.1K
30CTASCINTAS CORPCOM0.88%$3M5.2K
31HDHOME DEPOT INCCOM0.87%$3M8.9K
32MPCMARATHON PETE CORP COMCOM0.86%$3M20.8K
33CASYCASEYS GENERAL STORES INCCOM0.81%$3M10.5K
34MKCMC CORMICK & CO NEW VTCOM0.79%$3M41.4K
35DRIDARDEN RESTURANTS INCCOM0.79%$3M17.1K
36STERIS PLCCOM0.78%$3M12.7K
37MUSAMURPHY USA INC.COM0.77%$3M7.8K
38BF/BBROWN FORMAN CORP CL BCOM0.77%$3M48.2K
39DOWDOW CHEMICALCOM0.76%$3M49.8K
40MIDDMIDDLEBY CORP THECOM0.76%$3M18.4K
41MURMURPHY OIL CORPCOM0.74%$3M62.3K
42KMBKIMBERLY-CLARK CORPCOM0.74%$3M21.8K
43ADIANALOG DEVICES INCCOM0.72%$3M12.9K
44GRCGORMAN-RUPP CO COMCOM0.69%$2M69.6K
45BRBROADRIDGE FINANCIALCOM0.68%$2M11.8K
46CATCATERPILLAR INCCOM0.67%$2M8.0K
47MRKMERCK & CO INCCOM0.65%$2M21.2K
48SONSONOCO PRODUCTS INCCOM0.63%$2M40.4K
49LOWLOWES COMPANIES INCCOM0.63%$2M10.1K
50DISDISNEY WALT HOLDING COCOM0.63%$2M24.7K
51VLOVALERO ENERGYCOM0.62%$2M17.1K
52MSAMINE SAFTEY APPLIANCE COCOM0.62%$2M13.0K
53AXPAMERICAN EXPRESS CO.COM0.61%$2M11.6K
54NSCNORFOLK SOUTHERN CORPCOM0.60%$2M9.1K
55AINALBANY INT'L CORP.COM0.60%$2M21.7K
56HONHONEYWELL INC.COM0.59%$2M10.1K
57ASIXADVANSIX INC COMCOM0.57%$2M68.1K
58CPKCHESAPEAKE UTIL CORPCOM0.56%$2M19.0K
59WESTROCK CO COMCOM0.55%$2M46.9K
60ELLAUDER ESTEE CORP CL ACOM0.54%$2M13.1K
61KOCOCA-COLA COMPANYCOM0.53%$2M32.2K
62SLBSCHLUMBERGER LTD FCOM0.53%$2M36.1K
63CECELANESE CORP.COM0.52%$2M12.0K
64KEXKIRBY CORPCOM0.52%$2M23.7K
65TKRTIMKEN COMPANYCOM0.52%$2M23.1K
66IFFINTL FLAVOR & FRAGRANCESCOM0.50%$2M22.2K
67FELEFRANKLIN ELEC CO INCCOM0.50%$2M18.4K
68GISGENERAL MILLS INCCOM0.49%$2M27.0K
69PSXPHILLIPS 66 COMCOM0.49%$2M13.1K
70COPCONOCOPHILLIPSCOM0.47%$2M14.6K
71CHUBB CORPORATIONCOM0.46%$2M7.2K
72US STEEL CORP.COM0.44%$2M32.6K
73OKEONEOK, INCCOM0.44%$2M22.5K
74AVTAVNET INCCOM0.44%$2M30.9K
75SYKSTRYKER CORPCOM0.42%$1M5.0K
76INGERSOLL-RAND COMPANYCOM0.42%$1M19.3K
77DU PONT E I DE NEMOUR&COCOM0.41%$1M19.2K
78MARATHON OIL CO.COM0.40%$1M58.7K
79ABBVABBVIE INC COMCOM0.38%$1M8.8K
80CLFCLEVELAND-CLIFFS, INC.COM0.37%$1M64.0K
81ATOATMOS ENERGY CORPCOM0.37%$1M11.3K
82NEMNEWMONT GOLDCORPCOM0.36%$1M31.1K
83PAGPENSKE AUTOMOTIVE GROUPCOM0.36%$1M8.0K
84MTUSTIMKENSTEEL CORP COMCOM0.36%$1M54.8K
85CTVACORTEVA INC COMCOM0.36%$1M26.8K
86CANADIAN PAC LTD NEWCOM0.35%$1M15.7K
87DOVDOVER CORPORATIONCOM0.34%$1M8.0K
88METMETLIFE INCCOM0.34%$1M18.5K
89HESHESS CORPORATIONCOM0.34%$1M8.3K
90LLYLILLY ELI & COMPANYCOM0.32%$1M2.0K
91ATIALLEGHENY TECH INCCOM0.32%$1M25.3K
92O-I GLASS, INC.COM0.31%$1M66.9K
93SCHWTHE CHARLES SCHWAB CORPCOM0.29%$1M15.1K
94ENBENBRIDGE INC.COM0.29%$1M28.7K
95SHWSHERWIN WILLIAMS COCOM0.29%$1M3.3K
96GTGOODYEAR TIRE & RUBBERCOM0.29%$1M71.5K
97CSXCSX CORPCOM0.29%$1M29.5K
98STLDSTEEL DYNAMICS INCCOM0.28%$1M8.6K
99FISFIDELITY NATL INFO SVCSCOM0.28%$995,00016.6K
100MKLMARKEL CORP.COM0.27%$972,000685

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 ↗.