# Fruth Investment Management

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1416856. Source: https://holderbook.com/funds/1416856-fruth-investment-management/

- Reported value: $420.6M
- Positions: 225
- Weight of the ten largest: 26.4%
- Filed: 2026-07-10

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| WW GRAINGER INC | [GWW](https://holderbook.com/stocks/GWW/) | $22.1M | 16,280 | 5.3% | 31 |
| LINDE PLC | [LINXXXX](https://holderbook.com/stocks/LINXXXX/) | $13.3M | 25,612 | 3.2% | 31 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $13.0M | 17,975 | 3.1% | 31 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $11.0M | 80,140 | 2.6% | 31 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $10.7M | 20,906 | 2.6% | 31 |
| TRANE TECHNOLOGIES PLC | [TT](https://holderbook.com/stocks/TT/) | $8.8M | 17,910 | 2.1% | 26 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $8.7M | 52,361 | 2.1% | 31 |
| CASEYS GEN STORES INC | [CASY](https://holderbook.com/stocks/CASY/) | $8.1M | 10,137 | 1.9% | 31 |
| DEERE & CO | [DE](https://holderbook.com/stocks/DE/) | $7.7M | 12,145 | 1.8% | 31 |
| CATERPILLAR INC | [CAT](https://holderbook.com/stocks/CAT/) | $7.7M | 7,188 | 1.8% | 31 |
| STARBUCKS CORP | [SBUX](https://holderbook.com/stocks/SBUX/) | $6.9M | 67,061 | 1.6% | 31 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $6.8M | 23,416 | 1.6% | 31 |
| VIKING HOLDINGS LTD | [VIK](https://holderbook.com/stocks/VIK/) | $6.7M | 64,284 | 1.6% | 9 |
| APPLIED INDL TECHNOLOGIES IN | [AIT](https://holderbook.com/stocks/AIT/) | $6.7M | 19,809 | 1.6% | 31 |
| Eaton Corporation | - | $6.5M | 15,292 | 1.5% | 31 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $6.1M | 23,912 | 1.4% | 31 |
| PARKER-HANNIFIN CORP | [PH](https://holderbook.com/stocks/PH/) | $5.7M | 5,820 | 1.4% | 31 |
| GORMAN RUPP CO | [GRC](https://holderbook.com/stocks/GRC/) | $5.7M | 61,856 | 1.3% | 31 |
| AUTOMATIC DATA PROCESSING IN | [ADP](https://holderbook.com/stocks/ADP/) | $5.5M | 24,561 | 1.3% | 31 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $5.3M | 14,342 | 1.3% | 31 |
| AIR PRODUCTS AND CHEMICALS I | [APD](https://holderbook.com/stocks/APD/) | $5.3M | 18,018 | 1.3% | 31 |
| HERSHEY CO | [HSY](https://holderbook.com/stocks/HSY/) | $5.2M | 29,614 | 1.2% | 31 |
| AGILENT TECHNOLOGIES INC | [A](https://holderbook.com/stocks/A/) | $5.2M | 38,817 | 1.2% | 31 |
| EMERSON ELEC CO | [EMR](https://holderbook.com/stocks/EMR/) | $4.9M | 34,419 | 1.2% | 31 |
| MARATHON PETE CORP | [MPC](https://holderbook.com/stocks/MPC/) | $4.9M | 19,138 | 1.2% | 31 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $4.7M | 5,025 | 1.1% | 31 |
| TRACTOR SUPPLY CO | [TSCO](https://holderbook.com/stocks/TSCO/) | $4.7M | 148,350 | 1.1% | 31 |
| CORNING INC | [GLW](https://holderbook.com/stocks/GLW/) | $4.6M | 18,125 | 1.1% | 31 |
| ANALOG DEVICES INC | [ADI](https://holderbook.com/stocks/ADI/) | $4.5M | 11,370 | 1.1% | 31 |
| UNION PAC CORP | [UNP](https://holderbook.com/stocks/UNP/) | $4.2M | 15,586 | 1.0% | 31 |
| VALERO ENERGY CORP | [VLO](https://holderbook.com/stocks/VLO/) | $4.0M | 15,250 | 0.9% | 31 |
| MURPHY USA INC | [MUSA](https://holderbook.com/stocks/MUSA/) | $3.9M | 7,216 | 0.9% | 31 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $3.6M | 26,766 | 0.9% | 31 |
| AMERICAN EXPRESS CO | [AXP](https://holderbook.com/stocks/AXP/) | $3.6M | 10,630 | 0.9% | 31 |
| TEXAS INSTRS INC | [TXN](https://holderbook.com/stocks/TXN/) | $3.5M | 11,865 | 0.8% | 31 |
| KEYSIGHT TECHNOLOGIES INC | [KEYS](https://holderbook.com/stocks/KEYS/) | $3.3M | 9,403 | 0.8% | 31 |
| TIMKEN CO | [TKR](https://holderbook.com/stocks/TKR/) | $3.2M | 22,074 | 0.8% | 31 |
| DARDEN RESTAURANTS INC | [DRI](https://holderbook.com/stocks/DRI/) | $3.2M | 15,550 | 0.8% | 31 |
| SYSCO CORP | [SYY](https://holderbook.com/stocks/SYY/) | $3.1M | 37,209 | 0.7% | 31 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $3.1M | 8,651 | 0.7% | 31 |
| NEWMONT CORP | [NEM](https://holderbook.com/stocks/NEM/) | $3.0M | 31,909 | 0.7% | 31 |
| CINTAS CORP | [CTAS](https://holderbook.com/stocks/CTAS/) | $2.9M | 17,249 | 0.7% | 31 |
| CONOCOPHILLIPS | [COP](https://holderbook.com/stocks/COP/) | $2.8M | 27,219 | 0.7% | 31 |
| BUNGE GLOBAL SA | [BG](https://holderbook.com/stocks/BG/) | $2.8M | 26,266 | 0.7% | 10 |
| ABBOTT LABORATORIES | [ABT](https://holderbook.com/stocks/ABT/) | $2.6M | 29,107 | 0.6% | 31 |
| AVNET INC | [AVT](https://holderbook.com/stocks/AVT/) | $2.5M | 28,175 | 0.6% | 31 |
| MIDDLEBY CORP | [MIDD](https://holderbook.com/stocks/MIDD/) | $2.4M | 13,985 | 0.6% | 31 |
| ATI INC | [ATI](https://holderbook.com/stocks/ATI/) | $2.4M | 12,050 | 0.6% | 31 |
| STERIS PLC | - | $2.4M | 11,265 | 0.6% | 31 |
| SLB LIMITED | [SLB](https://holderbook.com/stocks/SLB/) | $2.4M | 51,010 | 0.6% | 31 |
| NORFOLK SOUTHN CORP | [NSC](https://holderbook.com/stocks/NSC/) | $2.4M | 7,518 | 0.6% | 31 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $2.3M | 17,950 | 0.5% | 31 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $2.2M | 27,625 | 0.5% | 31 |
| CHUBB CORP | - | $2.2M | 6,366 | 0.5% | 31 |
| CHESAPEAKE UTILS CORP | [CPK](https://holderbook.com/stocks/CPK/) | $2.1M | 17,449 | 0.5% | 31 |
| SONOCO PRODS CO | [SON](https://holderbook.com/stocks/SON/) | $2.1M | 37,400 | 0.5% | 31 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $2.1M | 21,838 | 0.5% | 31 |
| MSA SAFETY INC | [MSA](https://holderbook.com/stocks/MSA/) | $2.1M | 11,935 | 0.5% | 31 |
| CORTEVA INC | [CTVA](https://holderbook.com/stocks/CTVA/) | $2.1M | 24,360 | 0.5% | 29 |
| KIMBERLY-CLARK CORP | [KMB](https://holderbook.com/stocks/KMB/) | $2.1M | 18,784 | 0.5% | 31 |
| LOWES COS INC | [LOW](https://holderbook.com/stocks/LOW/) | $2.0M | 8,950 | 0.5% | 31 |
| MURPHY OIL CORP | [MUR](https://holderbook.com/stocks/MUR/) | $1.9M | 59,321 | 0.5% | 31 |
| STEEL DYNAMICS INC | [STLD](https://holderbook.com/stocks/STLD/) | $1.9M | 8,400 | 0.5% | 25 |
| PHILLIPS 66 | [PSX](https://holderbook.com/stocks/PSX/) | $1.9M | 11,123 | 0.4% | 31 |
| MCCORMICK & CO INC | [MKC](https://holderbook.com/stocks/MKC/) | $1.9M | 36,825 | 0.4% | 31 |
| FRANKLIN ELEC INC | [FELE](https://holderbook.com/stocks/FELE/) | $1.7M | 16,200 | 0.4% | 31 |
| DOVER CORP | [DOV](https://holderbook.com/stocks/DOV/) | $1.7M | 7,725 | 0.4% | 31 |
| ONEOK INC NEW | [OKE](https://holderbook.com/stocks/OKE/) | $1.7M | 19,915 | 0.4% | 31 |
| SMURFIT WESTROCK PLC | [SW](https://holderbook.com/stocks/SW/) | $1.7M | 36,537 | 0.4% | 8 |
| BANK OF NY MELLON CORP | [BNY](https://holderbook.com/stocks/BNY/) | $1.6M | 11,150 | 0.4% | 31 |
| QNITY ELECTRONICS INC | [Q](https://holderbook.com/stocks/Q/) | $1.6M | 9,731 | 0.4% | 3 |
| ATMOS ENERGY CORP | [ATO](https://holderbook.com/stocks/ATO/) | $1.6M | 9,131 | 0.4% | 31 |
| KIRBY CORP | [KEX](https://holderbook.com/stocks/KEX/) | $1.5M | 11,388 | 0.4% | 31 |
| FIFTH THIRD BANCORP | [FITB](https://holderbook.com/stocks/FITB/) | $1.5M | 27,210 | 0.4% | 11 |
| INTERNATIONAL FLAVORS&FRAGRA | [IFF](https://holderbook.com/stocks/IFF/) | $1.5M | 18,862 | 0.4% | 31 |
| CONAGRA BRANDS INC | [CAG](https://holderbook.com/stocks/CAG/) | $1.5M | 110,100 | 0.4% | 3 |
| ALBANY INTL CORP | [AIN](https://holderbook.com/stocks/AIN/) | $1.5M | 19,850 | 0.4% | 31 |
| NORTHERN TR CORP | [NTRS](https://holderbook.com/stocks/NTRS/) | $1.5M | 8,420 | 0.3% | 31 |
| INGERSOLL-RAND PLC | [IRXXXX](https://holderbook.com/stocks/IRXXXX/) | $1.4M | 17,558 | 0.3% | 31 |
| STRYKER CORPORATION | [SYK](https://holderbook.com/stocks/SYK/) | $1.4M | 4,450 | 0.3% | 31 |
| METLIFE INC | [MET](https://holderbook.com/stocks/MET/) | $1.4M | 16,491 | 0.3% | 31 |
| CSX CORP | [CSX](https://holderbook.com/stocks/CSX/) | $1.4M | 28,900 | 0.3% | 31 |
| ENBRIDGE INC | [ENB](https://holderbook.com/stocks/ENB/) | $1.4M | 25,325 | 0.3% | 31 |
| OLIN CORP | [OLN](https://holderbook.com/stocks/OLN/) | $1.4M | 69,162 | 0.3% | 31 |
| RTX CORPORATION | [RTX](https://holderbook.com/stocks/RTX/) | $1.4M | 7,117 | 0.3% | 25 |
| ANGLOGOLD ASHANTI LIMITED | [AUXXXX](https://holderbook.com/stocks/AUXXXX/) | $1.3M | 16,650 | 0.3% | 31 |
| PENSKE AUTOMOTIVE GRP INC | [PAG](https://holderbook.com/stocks/PAG/) | $1.3M | 7,500 | 0.3% | 31 |
| DOW HLDGS INC | [DOW](https://holderbook.com/stocks/DOW/) | $1.3M | 48,806 | 0.3% | 29 |
| MARKEL GROUP INC | [MKL](https://holderbook.com/stocks/MKL/) | $1.3M | 681 | 0.3% | 29 |
| SCHWAB CHARLES CORP | [SCHW](https://holderbook.com/stocks/SCHW/) | $1.3M | 14,245 | 0.3% | 23 |
| DNOW INC | [DNOW](https://holderbook.com/stocks/DNOW/) | $1.3M | 99,520 | 0.3% | 6 |
| FRANCO NEV CORP | [FNV](https://holderbook.com/stocks/FNV/) | $1.3M | 6,090 | 0.3% | 19 |
| CANADIAN PAC RY LTD | [CPXXXX](https://holderbook.com/stocks/CPXXXX/) | $1.3M | 14,492 | 0.3% | 19 |
| INGEVITY CORP | [NGVT](https://holderbook.com/stocks/NGVT/) | $1.2M | 16,557 | 0.3% | 31 |
| ADVANSIX INC | [ASIX](https://holderbook.com/stocks/ASIX/) | $1.2M | 61,151 | 0.3% | 31 |
| ALAMOS GOLD INC | [AGI](https://holderbook.com/stocks/AGI/) | $1.2M | 40,000 | 0.3% | 31 |
| MATSON INC | [MATX](https://holderbook.com/stocks/MATX/) | $1.2M | 6,050 | 0.3% | 24 |
| AGNICO EAGLE MINES LTD | [AEM](https://holderbook.com/stocks/AEM/) | $1.2M | 7,475 | 0.3% | 31 |
| BROWN FORMAN CORP | [BFB](https://holderbook.com/stocks/BFB/) | $1.2M | 43,284 | 0.3% | 31 |
| SHERWIN WILLIAMS CO | [SHW](https://holderbook.com/stocks/SHW/) | $1.1M | 3,300 | 0.3% | 31 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +7.6% | +14.8% | -7.3% | 97% |
| Q1 2026 | +9.1% | -4.6% | +13.8% | 97% |
| Q4 2025 | +0.5% | +2.4% | -1.8% | 96% |
| Q3 2025 | +3.6% | +7.8% | -4.2% | 98% |
| Q2 2025 | +3.2% | +10.5% | -7.3% | 98% |
| Q1 2025 | -0.3% | -4.6% | +4.2% | 99% |
| Q4 2024 | -4.3% | +2.1% | -6.5% | 99% |
| Q3 2024 | +6.8% | +5.4% | +1.4% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $420.6M | 225 |
| Q1 2026 | $401.3M | 229 |
| Q4 2025 | $370.7M | 220 |
| Q3 2025 | $369.3M | 215 |
| Q2 2025 | $368.0M | 217 |
| Q1 2025 | $360.2M | 218 |
| Q4 2024 | $363.1M | 216 |
| Q3 2024 | $385.4M | 219 |
| Q2 2024 | $367.7M | 217 |
| Q1 2024 | $389.8M | 222 |
| Q4 2023 | $357.0M | 223 |
| Q3 2023 | $337.2M | 218 |