# EDGAR Filing Document

**Accession Number:** 0001416856
**File Stem:** 0001416856-25-000004
**Filing Date:** 2025-7
**Character Count:** 23029
**Document Hash:** 53cdc226a282e33ea5494d8a7a2535c0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001416856-25-000004.hdr.sgml**: 20250711

**ACCESSION NUMBER**: 0001416856-25-000004

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250711

**DATE AS OF CHANGE**: 20250711

**EFFECTIVENESS DATE**: 20250711

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Fruth Investment Management
- **CENTRAL INDEX KEY:** 0001416856

**ORGANIZATION NAME:**
- **EIN:** 760358087

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-12688
- **FILM NUMBER:** 251118762

**BUSINESS ADDRESS:**
- **STREET 1:** 820 GESSNER, SUITE 1640
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77024
- **BUSINESS PHONE:** 713-464-2283

**MAIL ADDRESS:**
- **STREET 1:** 820 GESSNER, SUITE 1640
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77024

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 06-30-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Fruth Investment Management<br>**Address:** 820 GESSNER SUITE 1640<br>HOUSTON, TX 77024

**Form 13F File Number:** 028-12688

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Richard J Fruth<br>**Title:** President and CEO<br>**Phone:** 713-464-2283

**Signature, Place, and Date of Signing:**

Richard J Fruth  Houston, TX  07-11-2025<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 217

**Form 13F Information Table Value Total:** $367951

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| GRAINGER WW INC | COM | 384802104 |  | 18459 | 17745 | SH |  | SOLE |  | 18459 | 0 | 0 |
| LINDE PLC COM | COM | G5494J103 |  | 12736 | 27147 | SH |  | SOLE |  | 12736 | 0 | 0 |
| MASTERCARD INC | COM | 57636Q104 |  | 11759 | 20926 | SH |  | SOLE |  | 11759 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 9910 | 19925 | SH |  | SOLE |  | 9910 | 0 | 0 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 9196 | 85312 | SH |  | SOLE |  | 9196 | 0 | 0 |
| TRANE TECHNOLOGIES PLC | COM | G8994E103 |  | 8894 | 20335 | SH |  | SOLE |  | 8894 | 0 | 0 |
| TRACTOR SUPPLY COMPANY | COM | 892356106 |  | 8535 | 161750 | SH |  | SOLE |  | 8535 | 0 | 0 |
| AUTO DATA PROCESSING | COM | 053015103 |  | 8006 | 25962 | SH |  | SOLE |  | 8006 | 0 | 0 |
| STARBUCKS CORP | COM | 855244109 |  | 7012 | 76533 | SH |  | SOLE |  | 7012 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 6799 | 33141 | SH |  | SOLE |  | 6799 | 0 | 0 |
| DEERE  CO | COM | 244199105 |  | 6600 | 12980 | SH |  | SOLE |  | 6600 | 0 | 0 |
| CHEVRONTEXACO CORP | COM | 166764100 |  | 6420 | 44841 | SH |  | SOLE |  | 6420 | 0 | 0 |
| AIR PRODUCTS  CHEMICALS | COM | 009158106 |  | 5843 | 20717 | SH |  | SOLE |  | 5843 | 0 | 0 |
| EATON CORPORATION | COM | 278058102 |  | 5737 | 16072 | SH |  | SOLE |  | 5737 | 0 | 0 |
| CASEYS GENERAL STORES INC | COM | 147528103 |  | 5513 | 10805 | SH |  | SOLE |  | 5513 | 0 | 0 |
| HERSHEY FOODS CORP | COM | 427866108 |  | 5267 | 31741 | SH |  | SOLE |  | 5267 | 0 | 0 |
| EMERSON ELECTRIC | COM | 291011104 |  | 5204 | 39032 | SH |  | SOLE |  | 5204 | 0 | 0 |
| COSTCO WHOLSALE CORP NEW | COM | 22160K105 |  | 4989 | 5040 | SH |  | SOLE |  | 4989 | 0 | 0 |
| AGILENT TECHNOLOGIES | COM | 00846U101 |  | 4871 | 41277 | SH |  | SOLE |  | 4871 | 0 | 0 |
| APPLIED INDL. TECH. | COM | 03820C105 |  | 4835 | 20803 | SH |  | SOLE |  | 4835 | 0 | 0 |
| PARKER-HANNIFIN CORP | COM | 701094104 |  | 4414 | 6320 | SH |  | SOLE |  | 4414 | 0 | 0 |
| ABBOTT LABORATORIES | COM | 002824100 |  | 4091 | 30079 | SH |  | SOLE |  | 4091 | 0 | 0 |
| CINTAS CORP | COM | 172908105 |  | 3844 | 17249 | SH |  | SOLE |  | 3844 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 3821 | 25020 | SH |  | SOLE |  | 3821 | 0 | 0 |
| PEPSICO INCORPORATED | COM | 713448108 |  | 3730 | 28254 | SH |  | SOLE |  | 3730 | 0 | 0 |
| VIKING HOLDINGS INC. | COM | G93A5A101 |  | 3720 | 69819 | SH |  | SOLE |  | 3720 | 0 | 0 |
| KEYSIGHT TECHNOLOGIES INC COM | COM | 49338L103 |  | 3714 | 22667 | SH |  | SOLE |  | 3714 | 0 | 0 |
| APPLIED MATERIALS INC | COM | 038222105 |  | 3620 | 19775 | SH |  | SOLE |  | 3620 | 0 | 0 |
| UNION PACIFIC CORP | COM | 907818108 |  | 3592 | 15616 | SH |  | SOLE |  | 3592 | 0 | 0 |
| AMERICAN EXPRESS CO. | COM | 025816109 |  | 3575 | 11210 | SH |  | SOLE |  | 3575 | 0 | 0 |
| DARDEN RESTURANTS INC | COM | 237194105 |  | 3520 | 16150 | SH |  | SOLE |  | 3520 | 0 | 0 |
| MARATHON PETE CORP COM | COM | 56585A102 |  | 3378 | 20338 | SH |  | SOLE |  | 3378 | 0 | 0 |
| HOME DEPOT INC | COM | 437076102 |  | 3265 | 8906 | SH |  | SOLE |  | 3265 | 0 | 0 |
| CATERPILLAR INC | COM | 149123101 |  | 3058 | 7878 | SH |  | SOLE |  | 3058 | 0 | 0 |
| SYSCO CORP. | COM | 871829107 |  | 3027 | 39972 | SH |  | SOLE |  | 3027 | 0 | 0 |
| MURPHY USA INC. | COM | 626755102 |  | 2998 | 7371 | SH |  | SOLE |  | 2998 | 0 | 0 |
| MC CORMICK  CO NEW VT | COM | 579780206 |  | 2902 | 38280 | SH |  | SOLE |  | 2902 | 0 | 0 |
| DISNEY WALT HOLDING CO | COM | 254687106 |  | 2848 | 22967 | SH |  | SOLE |  | 2848 | 0 | 0 |
| ANALOG DEVICES INC | COM | 032654105 |  | 2832 | 11900 | SH |  | SOLE |  | 2832 | 0 | 0 |
| STERIS PLC | COM | 859152100 |  | 2776 | 11560 | SH |  | SOLE |  | 2776 | 0 | 0 |
| TEXAS INSTRUMENTS INC | COM | 882508104 |  | 2755 | 13272 | SH |  | SOLE |  | 2755 | 0 | 0 |
| KIMBERLY-CLARK CORP | COM | 494368103 |  | 2569 | 19934 | SH |  | SOLE |  | 2569 | 0 | 0 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 2524 | 28127 | SH |  | SOLE |  | 2524 | 0 | 0 |
| GORMAN-RUPP CO COM | COM | 383082104 |  | 2416 | 65798 | SH |  | SOLE |  | 2416 | 0 | 0 |
| HONEYWELL INC. | COM | 438516106 |  | 2345 | 10072 | SH |  | SOLE |  | 2345 | 0 | 0 |
| MIDDLEBY CORP THE | COM | 596278101 |  | 2309 | 16035 | SH |  | SOLE |  | 2309 | 0 | 0 |
| COCA-COLA COMPANY | COM | 191216100 |  | 2263 | 31989 | SH |  | SOLE |  | 2263 | 0 | 0 |
| VALERO ENERGY | COM | 91913Y100 |  | 2251 | 16750 | SH |  | SOLE |  | 2251 | 0 | 0 |
| CHESAPEAKE UTIL CORP | COM | 165303108 |  | 2181 | 18149 | SH |  | SOLE |  | 2181 | 0 | 0 |
| BUNGE | COM | H11356104 |  | 2176 | 27116 | SH |  | SOLE |  | 2176 | 0 | 0 |
| NORFOLK SOUTHERN CORP | COM | 655844108 |  | 2164 | 8458 | SH |  | SOLE |  | 2164 | 0 | 0 |
| LOWES COMPANIES INC | COM | 548661107 |  | 2041 | 9200 | SH |  | SOLE |  | 2041 | 0 | 0 |
| MINE SAFTEY APPLIANCE CO | COM | 553498106 |  | 2019 | 12055 | SH |  | SOLE |  | 2019 | 0 | 0 |
| STRYKER CORP | COM | 863667101 |  | 1978 | 5000 | SH |  | SOLE |  | 1978 | 0 | 0 |
| CORTEVA INC COM | COM | 22052L104 |  | 1934 | 25955 | SH |  | SOLE |  | 1934 | 0 | 0 |
| CHUBB CORPORATION | COM | 171232101 |  | 1918 | 6621 | SH |  | SOLE |  | 1918 | 0 | 0 |
| KIRBY CORP | COM | 497266106 |  | 1833 | 16167 | SH |  | SOLE |  | 1833 | 0 | 0 |
| NEWMONT GOLDCORP | COM | 651639106 |  | 1787 | 30674 | SH |  | SOLE |  | 1787 | 0 | 0 |
| SMURFIT WESTROCK LTD | COM | G8267P108 |  | 1728 | 40057 | SH |  | SOLE |  | 1728 | 0 | 0 |
| SONOCO PRODUCTS INC | COM | 835495102 |  | 1709 | 39245 | SH |  | SOLE |  | 1709 | 0 | 0 |
| TIMKEN COMPANY | COM | 887389104 |  | 1671 | 23034 | SH |  | SOLE |  | 1671 | 0 | 0 |
| ONEOK INC | COM | 682680103 |  | 1645 | 20152 | SH |  | SOLE |  | 1645 | 0 | 0 |
| FRANKLIN ELEC CO INC | COM | 353514102 |  | 1597 | 17800 | SH |  | SOLE |  | 1597 | 0 | 0 |
| AVNET INC | COM | 053807103 |  | 1594 | 30035 | SH |  | SOLE |  | 1594 | 0 | 0 |
| ADVANSIX INC COM | COM | 00773T101 |  | 1541 | 64903 | SH |  | SOLE |  | 1541 | 0 | 0 |
| INGERSOLL-RAND COMPANY | COM | G47791101 |  | 1529 | 18389 | SH |  | SOLE |  | 1529 | 0 | 0 |
| MERCK  CO INC | COM | 58933Y105 |  | 1522 | 19237 | SH |  | SOLE |  | 1522 | 0 | 0 |
| INTL FLAVOR  FRAGRANCES | COM | 459506101 |  | 1499 | 20389 | SH |  | SOLE |  | 1499 | 0 | 0 |
| ATMOS ENERGY CORP | COM | 049560105 |  | 1476 | 9581 | SH |  | SOLE |  | 1476 | 0 | 0 |
| OLIN CORP NEW | COM | 680665205 |  | 1475 | 73429 | SH |  | SOLE |  | 1475 | 0 | 0 |
| METLIFE INC | COM | 59156R108 |  | 1457 | 18125 | SH |  | SOLE |  | 1457 | 0 | 0 |
| PHILLIPS 66 COM | COM | 718546104 |  | 1452 | 12173 | SH |  | SOLE |  | 1452 | 0 | 0 |
| DOVER CORPORATION | COM | 260003108 |  | 1452 | 7925 | SH |  | SOLE |  | 1452 | 0 | 0 |
| ALBANY INT'L CORP. | COM | 012348108 |  | 1411 | 20130 | SH |  | SOLE |  | 1411 | 0 | 0 |
| MURPHY OIL CORP | COM | 626717102 |  | 1390 | 61821 | SH |  | SOLE |  | 1390 | 0 | 0 |
| DOW CHEMICAL | COM | 260557103 |  | 1381 | 52156 | SH |  | SOLE |  | 1381 | 0 | 0 |
| PENSKE AUTOMOTIVE GROUP | COM | 70959W103 |  | 1374 | 8000 | SH |  | SOLE |  | 1374 | 0 | 0 |
| MARKEL CORP. | COM | 570535104 |  | 1366 | 684 | SH |  | SOLE |  | 1366 | 0 | 0 |
| GENERAL MILLS INC | COM | 370334104 |  | 1340 | 25880 | SH |  | SOLE |  | 1340 | 0 | 0 |
| THE CHARLES SCHWAB CORP | COM | 808513105 |  | 1318 | 14456 | SH |  | SOLE |  | 1318 | 0 | 0 |
| ALLEGHENY TECH INC | COM | 01741R102 |  | 1256 | 14550 | SH |  | SOLE |  | 1256 | 0 | 0 |
| DU PONT E I DE NEMOUR | COM | 263534109 |  | 1251 | 18244 | SH |  | SOLE |  | 1251 | 0 | 0 |
| CANADIAN PAC LTD NEW | COM | 13645T100 |  | 1247 | 15742 | SH |  | SOLE |  | 1247 | 0 | 0 |
| BROWN FORMAN CORP CL B | COM | 115637209 |  | 1237 | 45993 | SH |  | SOLE |  | 1237 | 0 | 0 |
| FIDELITY NATL INFO SVCS | COM | 31620M106 |  | 1229 | 15098 | SH |  | SOLE |  | 1229 | 0 | 0 |
| ENBRIDGE INC. | COM | 29250N105 |  | 1198 | 26439 | SH |  | SOLE |  | 1198 | 0 | 0 |
| SCHLUMBERGER LTD       F | COM | 806857108 |  | 1173 | 34714 | SH |  | SOLE |  | 1173 | 0 | 0 |
| NORTHERN TRUST CORP | COM | 665859104 |  | 1141 | 9000 | SH |  | SOLE |  | 1141 | 0 | 0 |
| SHERWIN WILLIAMS CO | COM | 824348106 |  | 1133 | 3300 | SH |  | SOLE |  | 1133 | 0 | 0 |
| STEEL DYNAMICS INC | COM | 858119100 |  | 1100 | 8600 | SH |  | SOLE |  | 1100 | 0 | 0 |
| INTERCONTINENTAL EXCHANGE | COM | 45866F104 |  | 1100 | 6000 | SH |  | SOLE |  | 1100 | 0 | 0 |
| CORNING INC. | COM | 219350105 |  | 1088 | 20700 | SH |  | SOLE |  | 1088 | 0 | 0 |
| RTX CORP. | COM | 75513E101 |  | 1068 | 7320 | SH |  | SOLE |  | 1068 | 0 | 0 |
| ALAMOS GOLD INC. | COM | 011532108 |  | 1062 | 40000 | SH |  | SOLE |  | 1062 | 0 | 0 |
| BANK OF NEW YORK CO INC | COM | 064058100 |  | 1039 | 11405 | SH |  | SOLE |  | 1039 | 0 | 0 |
| ALLEGION PUBLIC LTD. CO. | COM | G0176J109 |  | 1026 | 7123 | SH |  | SOLE |  | 1026 | 0 | 0 |
| HESS CORPORATION | COM | 42809H107 |  | 997 | 7200 | SH |  | SOLE |  | 997 | 0 | 0 |
| FRANCO NEVADA CORP. | COM | 351858105 |  | 963 | 5875 | SH |  | SOLE |  | 963 | 0 | 0 |
| CSX CORP | COM | 126408103 |  | 952 | 29200 | SH |  | SOLE |  | 952 | 0 | 0 |
| 3M COMPANY | COM | 88579Y101 |  | 927 | 6090 | SH |  | SOLE |  | 927 | 0 | 0 |
| LAUDER ESTEE CORP CL A | COM | 518439104 |  | 919 | 11377 | SH |  | SOLE |  | 919 | 0 | 0 |
| O-I GLASS INC. | COM | 690768403 |  | 908 | 61623 | SH |  | SOLE |  | 908 | 0 | 0 |
| NUTRIEN LTD CO COM | COM | 67077M108 |  | 889 | 15278 | SH |  | SOLE |  | 889 | 0 | 0 |
| AGNICO-EAGLE MINES LTD | COM | 008474108 |  | 889 | 7475 | SH |  | SOLE |  | 889 | 0 | 0 |
| TRANSDIGM GROUP INC. | COM | 893641100 |  | 851 | 560 | SH |  | SOLE |  | 851 | 0 | 0 |
| COMMERCIAL METALS CO | COM | 201723103 |  | 851 | 17400 | SH |  | SOLE |  | 851 | 0 | 0 |
| METALLUS (MTUS/TMST) | COM | 887399103 |  | 828 | 53750 | SH |  | SOLE |  | 828 | 0 | 0 |
| KINDER MORGAN INC | COM | 49456B101 |  | 802 | 27287 | SH |  | SOLE |  | 802 | 0 | 0 |
| ANGLOGOLD LTD | COM | 035128206 |  | 802 | 17600 | SH |  | SOLE |  | 802 | 0 | 0 |
| OLD REPUBLIC INTL CORP | COM | 680223104 |  | 782 | 20358 | SH |  | SOLE |  | 782 | 0 | 0 |
| COTERRA ENERGY INC. | COM | 127097103 |  | 779 | 30714 | SH |  | SOLE |  | 779 | 0 | 0 |
| PACCAR INC | COM | 693718108 |  | 763 | 8032 | SH |  | SOLE |  | 763 | 0 | 0 |
| NETAPP INC. | COM | 64110D104 |  | 761 | 7150 | SH |  | SOLE |  | 761 | 0 | 0 |
| BRISTOL MYERS SQUIBB CO | COM | 110122108 |  | 746 | 16130 | SH |  | SOLE |  | 746 | 0 | 0 |
| INGEVITY CORP COM | COM | 45688C107 |  | 745 | 17300 | SH |  | SOLE |  | 745 | 0 | 0 |
| COMERICA INC. | COM | 200340107 |  | 745 | 12490 | SH |  | SOLE |  | 745 | 0 | 0 |
| SPIRE | COM | 84857L101 |  | 704 | 9650 | SH |  | SOLE |  | 704 | 0 | 0 |
| MATSON INC COM | COM | 57686G105 |  | 690 | 6200 | SH |  | SOLE |  | 690 | 0 | 0 |
| GOODYEAR TIRE  RUBBER | COM | 382550101 |  | 687 | 66318 | SH |  | SOLE |  | 687 | 0 | 0 |
| VERIZON COMM | COM | 92343V104 |  | 675 | 15602 | SH |  | SOLE |  | 675 | 0 | 0 |
| GENUINE PARTS CO COM | COM | 372460105 |  | 668 | 5510 | SH |  | SOLE |  | 668 | 0 | 0 |
| IMPERIAL OIL LTD | COM | 453038408 |  | 667 | 8400 | SH |  | SOLE |  | 667 | 0 | 0 |
| SHELL PLC. | COM | 780259305 |  | 667 | 9479 | SH |  | SOLE |  | 667 | 0 | 0 |
| PFIZER INC | COM | 717081103 |  | 667 | 27523 | SH |  | SOLE |  | 667 | 0 | 0 |
| INTL BUSINESS MACHINES | COM | 459200101 |  | 662 | 2247 | SH |  | SOLE |  | 662 | 0 | 0 |
| GAP INC | COM | 364760108 |  | 656 | 30100 | SH |  | SOLE |  | 656 | 0 | 0 |
| MOSAIC CO NEW | COM | 61945C103 |  | 640 | 17550 | SH |  | SOLE |  | 640 | 0 | 0 |
| KINROSS GOLD CORP NEW | COM | 496902404 |  | 634 | 40600 | SH |  | SOLE |  | 634 | 0 | 0 |
| DUKE ENERGY CORPORATION | COM | 26441C105 |  | 606 | 5142 | SH |  | SOLE |  | 606 | 0 | 0 |
| KROGER CO | COM | 501044101 |  | 537 | 7500 | SH |  | SOLE |  | 537 | 0 | 0 |
| CARRIER GLOBAL CORP. | COM | 14448C104 |  | 532 | 7281 | SH |  | SOLE |  | 532 | 0 | 0 |
| CELANESE CORP. | COM | 150870103 |  | 529 | 9565 | SH |  | SOLE |  | 529 | 0 | 0 |
| AMERICAN STATES WATER CO | COM | 029899101 |  | 521 | 6800 | SH |  | SOLE |  | 521 | 0 | 0 |
| BADGER METER INC | COM | 056525108 |  | 489 | 2000 | SH |  | SOLE |  | 489 | 0 | 0 |
| ASTRAZENECA PLC ADR | COM | 046353108 |  | 489 | 6998 | SH |  | SOLE |  | 489 | 0 | 0 |
| CLEVELAND-CLIFFS INC. | COM | 185899101 |  | 488 | 64225 | SH |  | SOLE |  | 488 | 0 | 0 |
| AMGEN INC | COM | 031162100 |  | 485 | 1740 | SH |  | SOLE |  | 485 | 0 | 0 |
| EASTMAN CHEMICAL | COM | 277432100 |  | 483 | 6475 | SH |  | SOLE |  | 483 | 0 | 0 |
| DIAMONDBACK ENERGY | COM | 25278X109 |  | 474 | 3457 | SH |  | SOLE |  | 474 | 0 | 0 |
| FLUOR CORPORATION | COM | 343412102 |  | 474 | 9250 | SH |  | SOLE |  | 474 | 0 | 0 |
| WELLS FARGO  CO NEW | COM | 949746101 |  | 474 | 5918 | SH |  | SOLE |  | 474 | 0 | 0 |
| VALVOLINE INC. | COM | 92047W101 |  | 472 | 12480 | SH |  | SOLE |  | 472 | 0 | 0 |
| RALPH LAUREN CORP. | COM | 751212101 |  | 466 | 1700 | SH |  | SOLE |  | 466 | 0 | 0 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 460 | 6640 | SH |  | SOLE |  | 460 | 0 | 0 |
| MUELLER WATER PRODUCTS | COM | 624758108 |  | 444 | 18500 | SH |  | SOLE |  | 444 | 0 | 0 |
| OCCIDENTAL PETE CORP | COM | 674599105 |  | 420 | 10003 | SH |  | SOLE |  | 420 | 0 | 0 |
| BRIGHTHOUSE FINL INC COM | COM | 10922N103 |  | 414 | 7700 | SH |  | SOLE |  | 414 | 0 | 0 |
| O REILLY AUTOMOTIVE INC | COM | 67103H107 |  | 405 | 4500 | SH |  | SOLE |  | 405 | 0 | 0 |
| BARRICK MINING CORP | COM | 06849F108 |  | 391 | 18800 | SH |  | SOLE |  | 391 | 0 | 0 |
| SCHWAB US TIPS ETF | COM | 808524870 |  | 386 | 14500 | SH |  | SOLE |  | 386 | 0 | 0 |
| CHURCHILL DOWNS INC KY | COM | 171484108 |  | 363 | 3600 | SH |  | SOLE |  | 363 | 0 | 0 |
| VIATRIS INC. | COM | 92556V106 |  | 361 | 40530 | SH |  | SOLE |  | 361 | 0 | 0 |
| AMER ELECTRIC PWR CO INC | COM | 025537101 |  | 361 | 3480 | SH |  | SOLE |  | 361 | 0 | 0 |
| PAYCHEX INC | COM | 704326107 |  | 356 | 2451 | SH |  | SOLE |  | 356 | 0 | 0 |
| PREFORMED LINE PRODS INC | COM | 740444104 |  | 351 | 2200 | SH |  | SOLE |  | 351 | 0 | 0 |
| BP PLC | COM | 055622104 |  | 348 | 11632 | SH |  | SOLE |  | 348 | 0 | 0 |
| ORGANON  CO. | COM | 68622V106 |  | 345 | 35675 | SH |  | SOLE |  | 345 | 0 | 0 |
| MACYS INC. | COM | 55616P104 |  | 339 | 29150 | SH |  | SOLE |  | 339 | 0 | 0 |
| OTIS WORLDWIDE CORP. | COM | 68902V107 |  | 336 | 3403 | SH |  | SOLE |  | 336 | 0 | 0 |
| CULLEN FROST BANKERS | COM | 229899109 |  | 334 | 2600 | SH |  | SOLE |  | 334 | 0 | 0 |
| OVINTIV INC. | COM | 69047Q102 |  | 331 | 8700 | SH |  | SOLE |  | 331 | 0 | 0 |
| REGIONS FINANCIAL CP NEW | COM | 7591EP100 |  | 329 | 14013 | SH |  | SOLE |  | 329 | 0 | 0 |
| DOMINION RESOURCES INC. | COM | 25746U109 |  | 327 | 5799 | SH |  | SOLE |  | 327 | 0 | 0 |
| ARTESIAN RES CORP CLA | COM | 043113208 |  | 327 | 9750 | SH |  | SOLE |  | 327 | 0 | 0 |
| DNOW INC COM | COM | 67011P100 |  | 323 | 21800 | SH |  | SOLE |  | 323 | 0 | 0 |
| KNOWLES CORP COM | COM | 49926D109 |  | 321 | 18225 | SH |  | SOLE |  | 321 | 0 | 0 |
| HF SINCLAIR CORP. | COM | 403949100 |  | 320 | 7800 | SH |  | SOLE |  | 320 | 0 | 0 |
| TEX PAC LAND SUB CTF | COM | 88262P102 |  | 316 | 300 | SH |  | SOLE |  | 316 | 0 | 0 |
| PERMIAN BASIN ROYALTY TR | COM | 714236106 |  | 315 | 25400 | SH |  | SOLE |  | 315 | 0 | 0 |
| ZOETIS INC. | COM | 98978V103 |  | 311 | 2000 | SH |  | SOLE |  | 311 | 0 | 0 |
| RGC RESOURCES INC | COM | 74955L103 |  | 308 | 13800 | SH |  | SOLE |  | 308 | 0 | 0 |
| STANLEY BLACK  DECKER INC. | COM | 854502101 |  | 301 | 4450 | SH |  | SOLE |  | 301 | 0 | 0 |
| WHEATON PRECIOUS MET. | COM | 962879102 |  | 300 | 3350 | SH |  | SOLE |  | 300 | 0 | 0 |
| ONE GAS INC COM | COM | 68235P108 |  | 298 | 4158 | SH |  | SOLE |  | 298 | 0 | 0 |
| KEYCORP | COM | 493267108 |  | 292 | 16816 | SH |  | SOLE |  | 292 | 0 | 0 |
| INTERNATIONAL PAPER CO | COM | 460146103 |  | 287 | 6145 | SH |  | SOLE |  | 287 | 0 | 0 |
| HUNTINGTON BANCSHARES INC | COM | 446150104 |  | 285 | 17026 | SH |  | SOLE |  | 285 | 0 | 0 |
| VISA INC CL A | COM | 92826C839 |  | 283 | 798 | SH |  | SOLE |  | 283 | 0 | 0 |
| CME GROUP INC COM | COM | 12572Q105 |  | 275 | 1000 | SH |  | SOLE |  | 275 | 0 | 0 |
| ZIONS BANCORPORATION COM | COM | 989701107 |  | 272 | 5250 | SH |  | SOLE |  | 272 | 0 | 0 |
| BAKER HUGHES CO. | COM | 05722G100 |  | 268 | 7000 | SH |  | SOLE |  | 268 | 0 | 0 |
| NASDAQ STOCK MARKET INC | COM | 631103108 |  | 268 | 3000 | SH |  | SOLE |  | 268 | 0 | 0 |
| PARK NATIONAL CORP | COM | 700658107 |  | 267 | 1600 | SH |  | SOLE |  | 267 | 0 | 0 |
| FIFTH THIRD BANCORP | COM | 316773100 |  | 258 | 6293 | SH |  | SOLE |  | 258 | 0 | 0 |
| PNC BANK CORP | COM | 693475105 |  | 246 | 1320 | SH |  | SOLE |  | 246 | 0 | 0 |
| EXPEDITORS INTL WASH | COM | 302130109 |  | 245 | 2150 | SH |  | SOLE |  | 245 | 0 | 0 |
| CALAVO GROWERS INC | COM | 128246105 |  | 244 | 9200 | SH |  | SOLE |  | 244 | 0 | 0 |
| ASA GOLD  PRECS MTLS | COM | G3156P103 |  | 236 | 7500 | SH |  | SOLE |  | 236 | 0 | 0 |
| TRANSOCEAN SEDCO FOREX | COM | H8817H100 |  | 235 | 91042 | SH |  | SOLE |  | 235 | 0 | 0 |
| ORACLE SYSTEMS CORP | COM | 68389X105 |  | 235 | 1075 | SH |  | SOLE |  | 235 | 0 | 0 |
| GILEAD SCIENCE SVCS | COM | 375558103 |  | 234 | 2118 | SH |  | SOLE |  | 234 | 0 | 0 |
| INTEL | COM | 458140100 |  | 234 | 10478 | SH |  | SOLE |  | 234 | 0 | 0 |
| CBOE HOLDINGS INC COMMON | COM | 12503M108 |  | 233 | 1000 | SH |  | SOLE |  | 233 | 0 | 0 |
| EBAY INC | COM | 278642103 |  | 229 | 3081 | SH |  | SOLE |  | 229 | 0 | 0 |
| COLGATE-PALMOLIVE CO | COM | 194162103 |  | 227 | 2500 | SH |  | SOLE |  | 227 | 0 | 0 |
| FORD MOTOR COMPANY | COM | 345370860 |  | 226 | 20850 | SH |  | SOLE |  | 226 | 0 | 0 |
| ILLINOIS TOOL WORKS | COM | 452308109 |  | 222 | 900 | SH |  | SOLE |  | 222 | 0 | 0 |
| PAN AMERICAN SILVER | COM | 697900108 |  | 213 | 7500 | SH |  | SOLE |  | 213 | 0 | 0 |
| PPG INDUSTRIES INC | COM | 693506107 |  | 212 | 1868 | SH |  | SOLE |  | 212 | 0 | 0 |
| KELLANOVA | COM | 487836108 |  | 212 | 2670 | SH |  | SOLE |  | 212 | 0 | 0 |
| AVERY DENNISON CORP | COM | 053611109 |  | 210 | 1200 | SH |  | SOLE |  | 210 | 0 | 0 |
| CIENA CORP NEW | COM | 171779309 |  | 203 | 2500 | SH |  | SOLE |  | 203 | 0 | 0 |
| HELMERICH  PAYNE INC | COM | 423452101 |  | 203 | 13400 | SH |  | SOLE |  | 203 | 0 | 0 |
| NUVEEN QUALITY MUNICIPAL | COM | 67066V101 |  | 174 | 15493 | SH |  | SOLE |  | 174 | 0 | 0 |
| CALERES INC. | COM | 129500104 |  | 172 | 14100 | SH |  | SOLE |  | 172 | 0 | 0 |
| MATIV HLDGS. INC. | COM | 808541106 |  | 162 | 23778 | SH |  | SOLE |  | 162 | 0 | 0 |
| NO EUROPEAN OIL TR | COM | 659310106 |  | 161 | 32667 | SH |  | SOLE |  | 161 | 0 | 0 |
| DNP SELECT INCOME FUND | COM | 23325P104 |  | 143 | 14655 | SH |  | SOLE |  | 143 | 0 | 0 |
| CHEMOURS COMPANY | COM | 163851108 |  | 135 | 11868 | SH |  | SOLE |  | 135 | 0 | 0 |
| DENNYS CORP | COM | 24869P104 |  | 123 | 30000 | SH |  | SOLE |  | 123 | 0 | 0 |
| BLOOMIN BRANDS INC | COM | 094235108 |  | 111 | 13000 | SH |  | SOLE |  | 111 | 0 | 0 |
| SOLITARIO EXPLORATION | COM | 8342EP107 |  | 97 | 150000 | SH |  | SOLE |  | 97 | 0 | 0 |
| ORION MARINE GROUP | COM | 68628V308 |  | 95 | 10500 | SH |  | SOLE |  | 95 | 0 | 0 |
| XEROX CORP | COM | 984121103 |  | 78 | 14887 | SH |  | SOLE |  | 78 | 0 | 0 |
| ACCO BRANDS CORP COM | COM | 00081T108 |  | 48 | 13500 | SH |  | SOLE |  | 48 | 0 | 0 |
| KOSMOS ENERGY LTD | COM | 500688106 |  | 46 | 27000 | SH |  | SOLE |  | 46 | 0 | 0 |
| DULUTH HOLDINGS INC | COM | 26443V101 |  | 28 | 13700 | SH |  | SOLE |  | 28 | 0 | 0 |

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