# EDGAR Filing Document

**Accession Number:** 0001416856
**File Stem:** 0001416856-25-000005
**Filing Date:** 2025-10
**Character Count:** 22863
**Document Hash:** b6454f8ac64f3f7f1e940ef6e500cf5e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001416856-25-000005.hdr.sgml**: 20251017

**ACCESSION NUMBER**: 0001416856-25-000005

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251017

**DATE AS OF CHANGE**: 20251017

**EFFECTIVENESS DATE**: 20251017

**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:** 251400180

**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:** 09-30-2025

**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  CEO<br>**Phone:** 713-464-2283

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

Richard J Fruth  Houston, TX  10-17-2025<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:** 215

**Form 13F Information Table Value Total:** $369292

      (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 |  | 16470 | 17283 | SH |  | SOLE |  | 16470 | 0 | 0 |
| LINDE PLC COM | COM | G5494J103 |  | 12714 | 26767 | SH |  | SOLE |  | 12714 | 0 | 0 |
| MASTERCARD INC | COM | 57636Q104 |  | 11902 | 20926 | SH |  | SOLE |  | 11902 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 9558 | 18455 | SH |  | SOLE |  | 9558 | 0 | 0 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 9122 | 80911 | SH |  | SOLE |  | 9122 | 0 | 0 |
| TRACTOR SUPPLY COMPANY | COM | 892356106 |  | 9084 | 159750 | SH |  | SOLE |  | 9084 | 0 | 0 |
| TRANE TECHNOLOGIES PLC | COM | G8994E103 |  | 8494 | 20130 | SH |  | SOLE |  | 8494 | 0 | 0 |
| CHEVRONTEXACO CORP | COM | 166764100 |  | 7996 | 51493 | SH |  | SOLE |  | 7996 | 0 | 0 |
| AUTO DATA PROCESSING | COM | 053015103 |  | 7423 | 25293 | SH |  | SOLE |  | 7423 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 6027 | 23671 | SH |  | SOLE |  | 6027 | 0 | 0 |
| CASEYS GENERAL STORES INC | COM | 147528103 |  | 5933 | 10495 | SH |  | SOLE |  | 5933 | 0 | 0 |
| STARBUCKS CORP | COM | 855244109 |  | 5903 | 69781 | SH |  | SOLE |  | 5903 | 0 | 0 |
| HERSHEY FOODS CORP | COM | 427866108 |  | 5838 | 31214 | SH |  | SOLE |  | 5838 | 0 | 0 |
| EATON CORPORATION | COM | 278058102 |  | 5827 | 15572 | SH |  | SOLE |  | 5827 | 0 | 0 |
| DEERE  CO | COM | 244199105 |  | 5738 | 12550 | SH |  | SOLE |  | 5738 | 0 | 0 |
| AIR PRODUCTS  CHEMICALS | COM | 009158106 |  | 5475 | 20078 | SH |  | SOLE |  | 5475 | 0 | 0 |
| APPLIED INDL. TECH. | COM | 03820C105 |  | 5271 | 20194 | SH |  | SOLE |  | 5271 | 0 | 0 |
| AGILENT TECHNOLOGIES | COM | 00846U101 |  | 5153 | 40152 | SH |  | SOLE |  | 5153 | 0 | 0 |
| EMERSON ELECTRIC | COM | 291011104 |  | 4980 | 37964 | SH |  | SOLE |  | 4980 | 0 | 0 |
| COSTCO WHOLSALE CORP NEW | COM | 22160K105 |  | 4655 | 5030 | SH |  | SOLE |  | 4655 | 0 | 0 |
| PARKER-HANNIFIN CORP | COM | 701094104 |  | 4624 | 6100 | SH |  | SOLE |  | 4624 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 4541 | 24492 | SH |  | SOLE |  | 4541 | 0 | 0 |
| VIKING HOLDINGS INC. | COM | G93A5A101 |  | 4217 | 67844 | SH |  | SOLE |  | 4217 | 0 | 0 |
| ABBOTT LABORATORIES | COM | 002824100 |  | 4009 | 29937 | SH |  | SOLE |  | 4009 | 0 | 0 |
| KEYSIGHT TECHNOLOGIES INC COM | COM | 49338L103 |  | 3871 | 22135 | SH |  | SOLE |  | 3871 | 0 | 0 |
| PEPSICO INCORPORATED | COM | 713448108 |  | 3867 | 27536 | SH |  | SOLE |  | 3867 | 0 | 0 |
| APPLIED MATERIALS INC | COM | 038222105 |  | 3843 | 18775 | SH |  | SOLE |  | 3843 | 0 | 0 |
| MARATHON PETE CORP COM | COM | 56585A102 |  | 3823 | 19838 | SH |  | SOLE |  | 3823 | 0 | 0 |
| CATERPILLAR INC | COM | 149123101 |  | 3692 | 7738 | SH |  | SOLE |  | 3692 | 0 | 0 |
| UNION PACIFIC CORP | COM | 907818108 |  | 3691 | 15616 | SH |  | SOLE |  | 3691 | 0 | 0 |
| AMERICAN EXPRESS CO. | COM | 025816109 |  | 3647 | 10980 | SH |  | SOLE |  | 3647 | 0 | 0 |
| HOME DEPOT INC | COM | 437076102 |  | 3600 | 8886 | SH |  | SOLE |  | 3600 | 0 | 0 |
| CINTAS CORP | COM | 172908105 |  | 3540 | 17249 | SH |  | SOLE |  | 3540 | 0 | 0 |
| SYSCO CORP. | COM | 871829107 |  | 3205 | 38929 | SH |  | SOLE |  | 3205 | 0 | 0 |
| DARDEN RESTURANTS INC | COM | 237194105 |  | 3036 | 15950 | SH |  | SOLE |  | 3036 | 0 | 0 |
| GORMAN-RUPP CO COM | COM | 383082104 |  | 2935 | 63255 | SH |  | SOLE |  | 2935 | 0 | 0 |
| ANALOG DEVICES INC | COM | 032654105 |  | 2922 | 11895 | SH |  | SOLE |  | 2922 | 0 | 0 |
| MURPHY USA INC. | COM | 626755102 |  | 2861 | 7371 | SH |  | SOLE |  | 2861 | 0 | 0 |
| STERIS PLC | COM | 859152100 |  | 2804 | 11335 | SH |  | SOLE |  | 2804 | 0 | 0 |
| VALERO ENERGY | COM | 91913Y100 |  | 2766 | 16250 | SH |  | SOLE |  | 2766 | 0 | 0 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 2627 | 27781 | SH |  | SOLE |  | 2627 | 0 | 0 |
| NEWMONT GOLDCORP | COM | 651639106 |  | 2560 | 30366 | SH |  | SOLE |  | 2560 | 0 | 0 |
| DISNEY WALT HOLDING CO | COM | 254687106 |  | 2545 | 22234 | SH |  | SOLE |  | 2545 | 0 | 0 |
| MC CORMICK  CO NEW VT | COM | 579780206 |  | 2481 | 37080 | SH |  | SOLE |  | 2481 | 0 | 0 |
| KIMBERLY-CLARK CORP | COM | 494368103 |  | 2407 | 19359 | SH |  | SOLE |  | 2407 | 0 | 0 |
| CHESAPEAKE UTIL CORP | COM | 165303108 |  | 2400 | 17824 | SH |  | SOLE |  | 2400 | 0 | 0 |
| NORFOLK SOUTHERN CORP | COM | 655844108 |  | 2390 | 7958 | SH |  | SOLE |  | 2390 | 0 | 0 |
| TEXAS INSTRUMENTS INC | COM | 882508104 |  | 2330 | 12685 | SH |  | SOLE |  | 2330 | 0 | 0 |
| LOWES COMPANIES INC | COM | 548661107 |  | 2312 | 9200 | SH |  | SOLE |  | 2312 | 0 | 0 |
| BUNGE | COM | H11356104 |  | 2186 | 26916 | SH |  | SOLE |  | 2186 | 0 | 0 |
| MINE SAFTEY APPLIANCE CO | COM | 553498106 |  | 2058 | 11965 | SH |  | SOLE |  | 2058 | 0 | 0 |
| HONEYWELL INC. | COM | 438516106 |  | 2057 | 9772 | SH |  | SOLE |  | 2057 | 0 | 0 |
| MIDDLEBY CORP THE | COM | 596278101 |  | 2051 | 15435 | SH |  | SOLE |  | 2051 | 0 | 0 |
| COCA-COLA COMPANY | COM | 191216100 |  | 1885 | 28425 | SH |  | SOLE |  | 1885 | 0 | 0 |
| CHUBB CORPORATION | COM | 171232101 |  | 1813 | 6426 | SH |  | SOLE |  | 1813 | 0 | 0 |
| STRYKER CORP | COM | 863667101 |  | 1811 | 4900 | SH |  | SOLE |  | 1811 | 0 | 0 |
| OLIN CORP NEW | COM | 680665205 |  | 1774 | 71012 | SH |  | SOLE |  | 1774 | 0 | 0 |
| MURPHY OIL CORP | COM | 626717102 |  | 1727 | 60821 | SH |  | SOLE |  | 1727 | 0 | 0 |
| CORTEVA INC COM | COM | 22052L104 |  | 1696 | 25087 | SH |  | SOLE |  | 1696 | 0 | 0 |
| CORNING INC. | COM | 219350105 |  | 1673 | 20400 | SH |  | SOLE |  | 1673 | 0 | 0 |
| TIMKEN COMPANY | COM | 887389104 |  | 1671 | 22234 | SH |  | SOLE |  | 1671 | 0 | 0 |
| SONOCO PRODUCTS INC | COM | 835495102 |  | 1659 | 38520 | SH |  | SOLE |  | 1659 | 0 | 0 |
| FRANKLIN ELEC CO INC | COM | 353514102 |  | 1656 | 17400 | SH |  | SOLE |  | 1656 | 0 | 0 |
| SMURFIT WESTROCK LTD | COM | G8267P108 |  | 1597 | 37522 | SH |  | SOLE |  | 1597 | 0 | 0 |
| PHILLIPS 66 COM | COM | 718546104 |  | 1580 | 11623 | SH |  | SOLE |  | 1580 | 0 | 0 |
| ATMOS ENERGY CORP | COM | 049560105 |  | 1567 | 9181 | SH |  | SOLE |  | 1567 | 0 | 0 |
| MERCK  CO INC | COM | 58933Y105 |  | 1539 | 18337 | SH |  | SOLE |  | 1539 | 0 | 0 |
| AVNET INC | COM | 053807103 |  | 1524 | 29155 | SH |  | SOLE |  | 1524 | 0 | 0 |
| INGERSOLL-RAND COMPANY | COM | G47791101 |  | 1494 | 18084 | SH |  | SOLE |  | 1494 | 0 | 0 |
| ONEOK INC | COM | 682680103 |  | 1437 | 19702 | SH |  | SOLE |  | 1437 | 0 | 0 |
| METLIFE INC | COM | 59156R108 |  | 1421 | 17258 | SH |  | SOLE |  | 1421 | 0 | 0 |
| ALAMOS GOLD INC. | COM | 011532108 |  | 1394 | 40000 | SH |  | SOLE |  | 1394 | 0 | 0 |
| THE CHARLES SCHWAB CORP | COM | 808513105 |  | 1380 | 14456 | SH |  | SOLE |  | 1380 | 0 | 0 |
| PENSKE AUTOMOTIVE GROUP | COM | 70959W103 |  | 1356 | 7800 | SH |  | SOLE |  | 1356 | 0 | 0 |
| DU PONT E I DE NEMOUR | COM | 263534109 |  | 1353 | 17376 | SH |  | SOLE |  | 1353 | 0 | 0 |
| SCHLUMBERGER LTD       F | COM | 806857108 |  | 1325 | 38562 | SH |  | SOLE |  | 1325 | 0 | 0 |
| MARKEL CORP. | COM | 570535104 |  | 1307 | 684 | SH |  | SOLE |  | 1307 | 0 | 0 |
| DOVER CORPORATION | COM | 260003108 |  | 1305 | 7825 | SH |  | SOLE |  | 1305 | 0 | 0 |
| KIRBY CORP | COM | 497266106 |  | 1303 | 15617 | SH |  | SOLE |  | 1303 | 0 | 0 |
| ENBRIDGE INC. | COM | 29250N105 |  | 1288 | 25539 | SH |  | SOLE |  | 1288 | 0 | 0 |
| GENERAL MILLS INC | COM | 370334104 |  | 1279 | 25380 | SH |  | SOLE |  | 1279 | 0 | 0 |
| AGNICO-EAGLE MINES LTD | COM | 008474108 |  | 1259 | 7475 | SH |  | SOLE |  | 1259 | 0 | 0 |
| BANK OF NEW YORK CO INC | COM | 064058100 |  | 1237 | 11355 | SH |  | SOLE |  | 1237 | 0 | 0 |
| ADVANSIX INC COM | COM | 00773T101 |  | 1227 | 63361 | SH |  | SOLE |  | 1227 | 0 | 0 |
| RTX CORP. | COM | 75513E101 |  | 1224 | 7320 | SH |  | SOLE |  | 1224 | 0 | 0 |
| ALLEGION PUBLIC LTD. CO. | COM | G0176J109 |  | 1220 | 6882 | SH |  | SOLE |  | 1220 | 0 | 0 |
| FRANCO NEVADA CORP. | COM | 351858105 |  | 1214 | 5450 | SH |  | SOLE |  | 1214 | 0 | 0 |
| BROWN FORMAN CORP CL B | COM | 115637209 |  | 1210 | 44687 | SH |  | SOLE |  | 1210 | 0 | 0 |
| INTL FLAVOR  FRAGRANCES | COM | 459506101 |  | 1201 | 19522 | SH |  | SOLE |  | 1201 | 0 | 0 |
| NORTHERN TRUST CORP | COM | 665859104 |  | 1196 | 8890 | SH |  | SOLE |  | 1196 | 0 | 0 |
| ANGLOGOLD LTD | COM | 035128206 |  | 1181 | 16800 | SH |  | SOLE |  | 1181 | 0 | 0 |
| CANADIAN PAC LTD NEW | COM | 13645T100 |  | 1172 | 15742 | SH |  | SOLE |  | 1172 | 0 | 0 |
| STEEL DYNAMICS INC | COM | 858119100 |  | 1171 | 8400 | SH |  | SOLE |  | 1171 | 0 | 0 |
| SHERWIN WILLIAMS CO | COM | 824348106 |  | 1142 | 3300 | SH |  | SOLE |  | 1142 | 0 | 0 |
| DOW CHEMICAL | COM | 260557103 |  | 1140 | 49756 | SH |  | SOLE |  | 1140 | 0 | 0 |
| ALBANY INT'L CORP. | COM | 012348108 |  | 1060 | 19905 | SH |  | SOLE |  | 1060 | 0 | 0 |
| ALLEGHENY TECH INC | COM | 01741R102 |  | 1037 | 12750 | SH |  | SOLE |  | 1037 | 0 | 0 |
| CSX CORP | COM | 126408103 |  | 1036 | 29200 | SH |  | SOLE |  | 1036 | 0 | 0 |
| KINROSS GOLD CORP NEW | COM | 496902404 |  | 1033 | 41600 | SH |  | SOLE |  | 1033 | 0 | 0 |
| INTERCONTINENTAL EXCHANGE | COM | 45866F104 |  | 1010 | 6000 | SH |  | SOLE |  | 1010 | 0 | 0 |
| COMMERCIAL METALS CO | COM | 201723103 |  | 996 | 17400 | SH |  | SOLE |  | 996 | 0 | 0 |
| FIDELITY NATL INFO SVCS | COM | 31620M106 |  | 981 | 14888 | SH |  | SOLE |  | 981 | 0 | 0 |
| LAUDER ESTEE CORP CL A | COM | 518439104 |  | 967 | 10977 | SH |  | SOLE |  | 967 | 0 | 0 |
| 3M COMPANY | COM | 88579Y101 |  | 945 | 6090 | SH |  | SOLE |  | 945 | 0 | 0 |
| INGEVITY CORP COM | COM | 45688C107 |  | 937 | 16983 | SH |  | SOLE |  | 937 | 0 | 0 |
| NUTRIEN LTD CO COM | COM | 67077M108 |  | 890 | 15161 | SH |  | SOLE |  | 890 | 0 | 0 |
| METALLUS (MTUS/TMST) | COM | 887399103 |  | 865 | 52350 | SH |  | SOLE |  | 865 | 0 | 0 |
| OLD REPUBLIC INTL CORP | COM | 680223104 |  | 864 | 20358 | SH |  | SOLE |  | 864 | 0 | 0 |
| COMERICA INC. | COM | 200340107 |  | 848 | 12390 | SH |  | SOLE |  | 848 | 0 | 0 |
| NETAPP INC. | COM | 64110D104 |  | 846 | 7150 | SH |  | SOLE |  | 846 | 0 | 0 |
| O-I GLASS INC. | COM | 690768403 |  | 789 | 60907 | SH |  | SOLE |  | 789 | 0 | 0 |
| PACCAR INC | COM | 693718108 |  | 778 | 7922 | SH |  | SOLE |  | 778 | 0 | 0 |
| SPIRE | COM | 84857L101 |  | 774 | 9500 | SH |  | SOLE |  | 774 | 0 | 0 |
| DNOW INC COM | COM | 67011P100 |  | 773 | 50700 | SH |  | SOLE |  | 773 | 0 | 0 |
| CLEVELAND-CLIFFS INC. | COM | 185899101 |  | 765 | 62725 | SH |  | SOLE |  | 765 | 0 | 0 |
| IMPERIAL OIL LTD | COM | 453038408 |  | 762 | 8400 | SH |  | SOLE |  | 762 | 0 | 0 |
| TRANSDIGM GROUP INC. | COM | 893641100 |  | 738 | 560 | SH |  | SOLE |  | 738 | 0 | 0 |
| GENUINE PARTS CO COM | COM | 372460105 |  | 735 | 5310 | SH |  | SOLE |  | 735 | 0 | 0 |
| KINDER MORGAN INC | COM | 49456B101 |  | 731 | 25837 | SH |  | SOLE |  | 731 | 0 | 0 |
| COTERRA ENERGY INC. | COM | 127097103 |  | 726 | 30714 | SH |  | SOLE |  | 726 | 0 | 0 |
| BRISTOL MYERS SQUIBB CO | COM | 110122108 |  | 707 | 15680 | SH |  | SOLE |  | 707 | 0 | 0 |
| PFIZER INC | COM | 717081103 |  | 656 | 25762 | SH |  | SOLE |  | 656 | 0 | 0 |
| VERIZON COMM | COM | 92343V104 |  | 651 | 14814 | SH |  | SOLE |  | 651 | 0 | 0 |
| BARRICK MINING CORP | COM | 06849F108 |  | 648 | 19800 | SH |  | SOLE |  | 648 | 0 | 0 |
| SHELL PLC. | COM | 780259305 |  | 632 | 8846 | SH |  | SOLE |  | 632 | 0 | 0 |
| GAP INC | COM | 364760108 |  | 631 | 29500 | SH |  | SOLE |  | 631 | 0 | 0 |
| MATSON INC COM | COM | 57686G105 |  | 611 | 6200 | SH |  | SOLE |  | 611 | 0 | 0 |
| DUKE ENERGY CORPORATION | COM | 26441C105 |  | 610 | 4937 | SH |  | SOLE |  | 610 | 0 | 0 |
| MOSAIC CO NEW | COM | 61945C103 |  | 605 | 17450 | SH |  | SOLE |  | 605 | 0 | 0 |
| ASTRAZENECA PLC ADR | COM | 046353108 |  | 536 | 6998 | SH |  | SOLE |  | 536 | 0 | 0 |
| RALPH LAUREN CORP. | COM | 751212101 |  | 533 | 1700 | SH |  | SOLE |  | 533 | 0 | 0 |
| INTL BUSINESS MACHINES | COM | 459200101 |  | 521 | 1850 | SH |  | SOLE |  | 521 | 0 | 0 |
| KROGER CO | COM | 501044101 |  | 505 | 7500 | SH |  | SOLE |  | 505 | 0 | 0 |
| MACYS INC. | COM | 55616P104 |  | 501 | 27950 | SH |  | SOLE |  | 501 | 0 | 0 |
| DIAMONDBACK ENERGY | COM | 25278X109 |  | 494 | 3457 | SH |  | SOLE |  | 494 | 0 | 0 |
| AMGEN INC | COM | 031162100 |  | 491 | 1740 | SH |  | SOLE |  | 491 | 0 | 0 |
| O REILLY AUTOMOTIVE INC | COM | 67103H107 |  | 485 | 4500 | SH |  | SOLE |  | 485 | 0 | 0 |
| GOODYEAR TIRE  RUBBER | COM | 382550101 |  | 485 | 64851 | SH |  | SOLE |  | 485 | 0 | 0 |
| OCCIDENTAL PETE CORP | COM | 674599105 |  | 472 | 10003 | SH |  | SOLE |  | 472 | 0 | 0 |
| MUELLER WATER PRODUCTS | COM | 624758108 |  | 472 | 18500 | SH |  | SOLE |  | 472 | 0 | 0 |
| AMERICAN STATES WATER CO | COM | 029899101 |  | 469 | 6400 | SH |  | SOLE |  | 469 | 0 | 0 |
| PERMIAN BASIN ROYALTY TR | COM | 714236106 |  | 463 | 25400 | SH |  | SOLE |  | 463 | 0 | 0 |
| WELLS FARGO  CO NEW | COM | 949746101 |  | 454 | 5418 | SH |  | SOLE |  | 454 | 0 | 0 |
| VALVOLINE INC. | COM | 92047W101 |  | 448 | 12480 | SH |  | SOLE |  | 448 | 0 | 0 |
| CARRIER GLOBAL CORP. | COM | 14448C104 |  | 434 | 7281 | SH |  | SOLE |  | 434 | 0 | 0 |
| PREFORMED LINE PRODS INC | COM | 740444104 |  | 431 | 2200 | SH |  | SOLE |  | 431 | 0 | 0 |
| KNOWLES CORP COM | COM | 49926D109 |  | 401 | 17225 | SH |  | SOLE |  | 401 | 0 | 0 |
| BP PLC | COM | 055622104 |  | 398 | 11565 | SH |  | SOLE |  | 398 | 0 | 0 |
| FLUOR CORPORATION | COM | 343412102 |  | 389 | 9250 | SH |  | SOLE |  | 389 | 0 | 0 |
| VIATRIS INC. | COM | 92556V106 |  | 386 | 39010 | SH |  | SOLE |  | 386 | 0 | 0 |
| CELANESE CORP. | COM | 150870103 |  | 383 | 9115 | SH |  | SOLE |  | 383 | 0 | 0 |
| AMER ELECTRIC PWR CO INC | COM | 025537101 |  | 380 | 3380 | SH |  | SOLE |  | 380 | 0 | 0 |
| WHEATON PRECIOUS MET. | COM | 962879102 |  | 374 | 3350 | SH |  | SOLE |  | 374 | 0 | 0 |
| ORGANON  CO. | COM | 68622V106 |  | 372 | 34850 | SH |  | SOLE |  | 372 | 0 | 0 |
| BRIGHTHOUSE FINL INC COM | COM | 10922N103 |  | 371 | 7000 | SH |  | SOLE |  | 371 | 0 | 0 |
| REGIONS FINANCIAL CP NEW | COM | 7591EP100 |  | 368 | 13959 | SH |  | SOLE |  | 368 | 0 | 0 |
| HF SINCLAIR CORP. | COM | 403949100 |  | 363 | 6950 | SH |  | SOLE |  | 363 | 0 | 0 |
| BADGER METER INC | COM | 056525108 |  | 357 | 2000 | SH |  | SOLE |  | 357 | 0 | 0 |
| EASTMAN CHEMICAL | COM | 277432100 |  | 356 | 5650 | SH |  | SOLE |  | 356 | 0 | 0 |
| CHURCHILL DOWNS INC KY | COM | 171484108 |  | 349 | 3600 | SH |  | SOLE |  | 349 | 0 | 0 |
| OVINTIV INC. | COM | 69047Q102 |  | 347 | 8594 | SH |  | SOLE |  | 347 | 0 | 0 |
| ASA GOLD  PRECS MTLS | COM | G3156P103 |  | 343 | 7500 | SH |  | SOLE |  | 343 | 0 | 0 |
| INTEL | COM | 458140100 |  | 341 | 10178 | SH |  | SOLE |  | 341 | 0 | 0 |
| BAKER HUGHES CO. | COM | 05722G100 |  | 341 | 7000 | SH |  | SOLE |  | 341 | 0 | 0 |
| CULLEN FROST BANKERS | COM | 229899109 |  | 329 | 2600 | SH |  | SOLE |  | 329 | 0 | 0 |
| ONE GAS INC COM | COM | 68235P108 |  | 324 | 4008 | SH |  | SOLE |  | 324 | 0 | 0 |
| SCHWAB US TIPS ETF | COM | 808524870 |  | 323 | 12000 | SH |  | SOLE |  | 323 | 0 | 0 |
| DOMINION RESOURCES INC. | COM | 25746U109 |  | 319 | 5228 | SH |  | SOLE |  | 319 | 0 | 0 |
| STANLEY BLACK  DECKER INC. | COM | 854502101 |  | 315 | 4250 | SH |  | SOLE |  | 315 | 0 | 0 |
| OTIS WORLDWIDE CORP. | COM | 68902V107 |  | 311 | 3403 | SH |  | SOLE |  | 311 | 0 | 0 |
| PAYCHEX INC | COM | 704326107 |  | 310 | 2451 | SH |  | SOLE |  | 310 | 0 | 0 |
| RGC RESOURCES INC | COM | 74955L103 |  | 309 | 13800 | SH |  | SOLE |  | 309 | 0 | 0 |
| ARTESIAN RES CORP CLA | COM | 043113208 |  | 304 | 9350 | SH |  | SOLE |  | 304 | 0 | 0 |
| ORACLE SYSTEMS CORP | COM | 68389X105 |  | 302 | 1075 | SH |  | SOLE |  | 302 | 0 | 0 |
| KEYCORP | COM | 493267108 |  | 301 | 16116 | SH |  | SOLE |  | 301 | 0 | 0 |
| ZIONS BANCORPORATION COM | COM | 989701107 |  | 297 | 5250 | SH |  | SOLE |  | 297 | 0 | 0 |
| HELMERICH  PAYNE INC | COM | 423452101 |  | 293 | 13300 | SH |  | SOLE |  | 293 | 0 | 0 |
| ZOETIS INC. | COM | 98978V103 |  | 292 | 2000 | SH |  | SOLE |  | 292 | 0 | 0 |
| HUNTINGTON BANCSHARES INC | COM | 446150104 |  | 290 | 16826 | SH |  | SOLE |  | 290 | 0 | 0 |
| PAN AMERICAN SILVER | COM | 697900108 |  | 290 | 7500 | SH |  | SOLE |  | 290 | 0 | 0 |
| INTERNATIONAL PAPER CO | COM | 460146103 |  | 280 | 6045 | SH |  | SOLE |  | 280 | 0 | 0 |
| EBAY INC | COM | 278642103 |  | 280 | 3081 | SH |  | SOLE |  | 280 | 0 | 0 |
| TEX PAC LAND SUB CTF | COM | 88262P102 |  | 280 | 300 | SH |  | SOLE |  | 280 | 0 | 0 |
| FIFTH THIRD BANCORP | COM | 316773100 |  | 278 | 6253 | SH |  | SOLE |  | 278 | 0 | 0 |
| TRANSOCEAN SEDCO FOREX | COM | H8817H100 |  | 274 | 87878 | SH |  | SOLE |  | 274 | 0 | 0 |
| VISA INC CL A | COM | 92826C839 |  | 272 | 798 | SH |  | SOLE |  | 272 | 0 | 0 |
| CME GROUP INC COM | COM | 12572Q105 |  | 270 | 1000 | SH |  | SOLE |  | 270 | 0 | 0 |
| NASDAQ STOCK MARKET INC | COM | 631103108 |  | 265 | 3000 | SH |  | SOLE |  | 265 | 0 | 0 |
| PNC BANK CORP | COM | 693475105 |  | 265 | 1320 | SH |  | SOLE |  | 265 | 0 | 0 |
| EXPEDITORS INTL WASH | COM | 302130109 |  | 263 | 2150 | SH |  | SOLE |  | 263 | 0 | 0 |
| MATIV HLDGS. INC. | COM | 808541106 |  | 262 | 23202 | SH |  | SOLE |  | 262 | 0 | 0 |
| FORD MOTOR COMPANY | COM | 345370860 |  | 249 | 20850 | SH |  | SOLE |  | 249 | 0 | 0 |
| CBOE HOLDINGS INC COMMON | COM | 12503M108 |  | 245 | 1000 | SH |  | SOLE |  | 245 | 0 | 0 |
| PARK NATIONAL CORP | COM | 700658107 |  | 243 | 1500 | SH |  | SOLE |  | 243 | 0 | 0 |
| CALAVO GROWERS INC | COM | 128246105 |  | 236 | 9200 | SH |  | SOLE |  | 236 | 0 | 0 |
| GILEAD SCIENCE SVCS | COM | 375558103 |  | 235 | 2118 | SH |  | SOLE |  | 235 | 0 | 0 |
| CIENA CORP NEW | COM | 171779309 |  | 218 | 1500 | SH |  | SOLE |  | 218 | 0 | 0 |
| HALLIBURTON COMPANY | COM | 406216101 |  | 215 | 8770 | SH |  | SOLE |  | 215 | 0 | 0 |
| 21ST CENT FOX Cl A | COM | 35137L105 |  | 215 | 3411 | SH |  | SOLE |  | 215 | 0 | 0 |
| ILLINOIS TOOL WORKS | COM | 452308109 |  | 208 | 800 | SH |  | SOLE |  | 208 | 0 | 0 |
| NAT'L FUEL GAS CO. | COM | 636180101 |  | 203 | 2200 | SH |  | SOLE |  | 203 | 0 | 0 |
| CALERES INC. | COM | 129500104 |  | 183 | 14100 | SH |  | SOLE |  | 183 | 0 | 0 |
| NUVEEN QUALITY MUNICIPAL | COM | 67066V101 |  | 181 | 15493 | SH |  | SOLE |  | 181 | 0 | 0 |
| NO EUROPEAN OIL TR | COM | 659310106 |  | 175 | 32034 | SH |  | SOLE |  | 175 | 0 | 0 |
| CHEMOURS COMPANY | COM | 163851108 |  | 171 | 10855 | SH |  | SOLE |  | 171 | 0 | 0 |
| DENNYS CORP | COM | 24869P104 |  | 162 | 31000 | SH |  | SOLE |  | 162 | 0 | 0 |
| DNP SELECT INCOME FUND | COM | 23325P104 |  | 146 | 14655 | SH |  | SOLE |  | 146 | 0 | 0 |
| SOLITARIO EXPLORATION | COM | 8342EP107 |  | 104 | 150000 | SH |  | SOLE |  | 104 | 0 | 0 |
| BLOOMIN BRANDS INC | COM | 094235108 |  | 93 | 13000 | SH |  | SOLE |  | 93 | 0 | 0 |
| MEXCO ENERGY CORP. | COM | 592770101 |  | 92 | 10150 | SH |  | SOLE |  | 92 | 0 | 0 |
| ORION MARINE GROUP | COM | 68628V308 |  | 87 | 10500 | SH |  | SOLE |  | 87 | 0 | 0 |
| XEROX CORP | COM | 984121103 |  | 59 | 15792 | SH |  | SOLE |  | 59 | 0 | 0 |
| ACCO BRANDS CORP COM | COM | 00081T108 |  | 53 | 13500 | SH |  | SOLE |  | 53 | 0 | 0 |
| KOSMOS ENERGY LTD | COM | 500688106 |  | 53 | 32000 | SH |  | SOLE |  | 53 | 0 | 0 |
| DULUTH HOLDINGS INC | COM | 26443V101 |  | 49 | 12700 | SH |  | SOLE |  | 49 | 0 | 0 |

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