# SPEECE THORSON CAPITAL GROUP INC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 900169. Source: https://holderbook.com/funds/900169-speece-thorson-capital-group-inc/

- Reported value: $467.7M
- Positions: 37
- Weight of the ten largest: 36.9%
- Filed: 2026-08-04

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 |
|---|---|---|---|---|---|
| COMMERCE BANCSHARES INC | [CBSH](https://holderbook.com/stocks/CBSH/) | $19.2M | 332,442 | 4.1% | 31 |
| WHITE MTNS INS GROUP LTD | [WTM](https://holderbook.com/stocks/WTM/) | $19.1M | 9,215 | 4.1% | 31 |
| MGE ENERGY INC | [MGEE](https://holderbook.com/stocks/MGEE/) | $18.6M | 228,679 | 4.0% | 11 |
| CASS INFORMATION SYS INC | [CASS](https://holderbook.com/stocks/CASS/) | $17.8M | 347,328 | 3.8% | 11 |
| STERIS PLC | [STE](https://holderbook.com/stocks/STE/) | $17.8M | 84,495 | 3.8% | 30 |
| SONOCO PRODS CO | [SON](https://holderbook.com/stocks/SON/) | $16.9M | 300,496 | 3.6% | 31 |
| MSA SAFETY INC | [MSA](https://holderbook.com/stocks/MSA/) | $16.9M | 96,741 | 3.6% | 6 |
| RPM INTL INC | [RPM](https://holderbook.com/stocks/RPM/) | $15.8M | 142,095 | 3.4% | 26 |
| HEXCEL CORP NEW | [HXL](https://holderbook.com/stocks/HXL/) | $15.3M | 152,463 | 3.3% | 26 |
| LABCORP HOLDINGS INC | [LH](https://holderbook.com/stocks/LH/) | $15.2M | 54,385 | 3.3% | 9 |
| M & T BK CORP | [MTB](https://holderbook.com/stocks/MTB/) | $15.2M | 63,885 | 3.3% | 31 |
| APTARGROUP INC | [ATR](https://holderbook.com/stocks/ATR/) | $15.2M | 121,355 | 3.2% | 31 |
| OREILLY AUTOMOTIVE INC | [ORLY](https://holderbook.com/stocks/ORLY/) | $15.1M | 164,080 | 3.2% | 31 |
| GENTEX CORP | [GNTX](https://holderbook.com/stocks/GNTX/) | $15.1M | 597,167 | 3.2% | 18 |
| IDEX CORP | [IEX](https://holderbook.com/stocks/IEX/) | $14.9M | 65,510 | 3.2% | 31 |
| TORO CO | [TTC](https://holderbook.com/stocks/TTC/) | $14.3M | 146,959 | 3.1% | 10 |
| WABTEC | [WAB](https://holderbook.com/stocks/WAB/) | $13.9M | 51,647 | 3.0% | 31 |
| TELEFLEX INCORPORATED | [TFX](https://holderbook.com/stocks/TFX/) | $13.2M | 104,065 | 2.8% | 14 |
| SMUCKER J M CO | [SJM](https://holderbook.com/stocks/SJM/) | $13.2M | 117,159 | 2.8% | 31 |
| INSIGHT ENTERPRISES INC | [NSIT](https://holderbook.com/stocks/NSIT/) | $13.0M | 106,952 | 2.8% | 26 |
| ZIMMER BIOMET HOLDINGS INC | [ZBH](https://holderbook.com/stocks/ZBH/) | $11.9M | 138,547 | 2.6% | 31 |
| TRIMBLE INC | [TRMB](https://holderbook.com/stocks/TRMB/) | $11.7M | 229,315 | 2.5% | 2 |
| BERKLEY W R CORP | [WRB](https://holderbook.com/stocks/WRB/) | $11.5M | 162,554 | 2.5% | 31 |
| TRACTOR SUPPLY CO | [TSCO](https://holderbook.com/stocks/TSCO/) | $11.4M | 359,937 | 2.4% | 27 |
| DEVON ENERGY CORP NEW | [DVN](https://holderbook.com/stocks/DVN/) | $11.3M | 274,418 | 2.4% | 31 |
| ARROW ELECTRS INC | [ARW](https://holderbook.com/stocks/ARW/) | $11.0M | 51,368 | 2.3% | 31 |
| KEYSIGHT TECHNOLOGIES INC | [KEYS](https://holderbook.com/stocks/KEYS/) | $10.5M | 30,127 | 2.3% | 17 |
| AZZ INC | [AZZ](https://holderbook.com/stocks/AZZ/) | $9.9M | 63,750 | 2.1% | 5 |
| MUELLER WTR PRODS INC | [MWA](https://holderbook.com/stocks/MWA/) | $9.5M | 367,282 | 2.0% | 31 |
| NORTHERN TR CORP | [NTRS](https://holderbook.com/stocks/NTRS/) | $9.0M | 51,999 | 1.9% | 31 |
| MOHAWK INDS INC | [MHK](https://holderbook.com/stocks/MHK/) | $7.9M | 65,195 | 1.7% | 31 |
| TEREX CORP NEW | [TEX](https://holderbook.com/stocks/TEX/) | $7.7M | 106,610 | 1.6% | 2 |
| C H ROBINSON WORLDWIDE IN | [CHRW](https://holderbook.com/stocks/CHRW/) | $7.1M | 37,751 | 1.5% | 31 |
| CASEYS GEN STORES INC | [CASY](https://holderbook.com/stocks/CASY/) | $6.3M | 7,947 | 1.4% | 31 |
| MEDIAALPHA INC | [MAX](https://holderbook.com/stocks/MAX/) | $6.1M | 489,098 | 1.3% | 2 |
| FULLER H B CO | [FUL](https://holderbook.com/stocks/FUL/) | $4.5M | 77,354 | 1.0% | 2 |
| RAYONIER INC | [RYN](https://holderbook.com/stocks/RYN/) | $4.5M | 211,357 | 1.0% | 1 |

## 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 | +9.0% | +14.8% | -5.8% | 100% |
| Q1 2026 | +6.6% | -4.6% | +11.2% | 98% |
| Q4 2025 | -3.4% | +2.4% | -5.7% | 100% |
| Q3 2025 | +3.8% | +7.8% | -4.0% | 100% |
| Q2 2025 | -0.1% | +10.5% | -10.6% | 100% |
| Q1 2025 | -1.7% | -4.6% | +2.9% | 100% |
| Q4 2024 | -4.5% | +2.1% | -6.6% | 100% |
| Q3 2024 | +9.7% | +5.4% | +4.3% | 101% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $467.7M | 37 |
| Q1 2026 | $439.0M | 38 |
| Q4 2025 | $462.0M | 42 |
| Q3 2025 | $500.5M | 44 |
| Q2 2025 | $491.1M | 43 |
| Q1 2025 | $485.6M | 42 |
| Q4 2024 | $506.9M | 41 |
| Q3 2024 | $541.3M | 42 |
| Q2 2024 | $489.0M | 42 |
| Q1 2024 | $517.4M | 43 |
| Q4 2023 | $487.7M | 41 |
| Q3 2023 | $453.6M | 39 |