Speece Thorson Capital Group Inc.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 1, 2025), Speece Thorson Capital Group Inc. reported 42 stock positions worth $485.6 million. Its top holding was White Mountains Insurance GP (WTM) at 4.4% of the portfolio, followed by Zimmer Biomet (ZBH, 4.2%) and FMC (FMC, 4.0%). Compared with Q4 2024, it opened 2 new positions, sold out of 1, added to 6 and reduced 29. The biggest buy was a new position in Msa Safety (MSA) and the biggest sale Henry Schein (HSIC, shares −97%).
- Most Recent 13F
- Q2 2026
- Location
- MINNETONKA, MN
- CIK
- 0000900169
- Portfolio Value
- $485.6M (Q1 2025)
- SEC Filing
- 0000900169-25-000002 ↗ filed May 1, 2025
Holdings Value
Holdings 42 stocks · $485.6M
| WTM White Mountains Insurance GP | 4.43% | 11,159 | $21.5M | Reduce -1.6% |
| ZBH Zimmer Biomet Holdings Inc. | 4.17% | 178,761 | $20.2M | Reduce -1.7% |
| FMC FMC Corp. | 4.02% | 462,145 | $19.5M | Add +1.2% |
| RPM RPM International Inc. | 3.94% | 165,448 | $19.1M | Reduce -1.7% |
| SJM The JM Smucker Co. filed as SMUCKER J M CO | 3.39% | 139,087 | $16.5M | Reduce -1.7% |
| WRB WR Berkley Corp. filed as BERKLEY W R CORP | 3.30% | 225,151 | $16.0M | Reduce -1.6% |
| GNTX Gentex Corp. | 3.28% | 682,684 | $15.9M | Add +18.3% |
| ARW Arrow Electronics Inc. | 3.26% | 152,279 | $15.8M | Reduce -1.7% |
| HXL Hexcel Corp. | 3.22% | 285,814 | $15.7M | Reduce -1.8% |
| TTC Toro Co. | 3.09% | 206,412 | $15.0M | Reduce -1.8% |
| STE Steris PLC | 3.06% | 65,658 | $14.9M | Reduce -1.6% |
| ORLY O'reilly Automotive Inc. | 3.05% | 10,340 | $14.8M | Reduce -20.1% |
| MTB M & T Bank Corp. filed as M & T BK CORP | 3.04% | 82,509 | $14.7M | Reduce -1.6% |
| MWA Mueller Water Products Inc. Class A | 3.01% | 574,151 | $14.6M | Reduce -15.3% |
| CBSH Commerce Bancshares Inc. | 2.96% | 231,232 | $14.4M | Reduce -1.7% |
| DVA Davita Inc. | 2.92% | 92,740 | $14.2M | Reduce -12.0% |
| CASS Cass Information Systems Inc. | 2.88% | 322,918 | $14.0M | Reduce -1.8% |
| IEX Idex Corp. | 2.85% | 76,567 | $13.9M | Add +58.8% |
| TSCO Tractor Supply Company | 2.83% | 249,635 | $13.8M | Reduce -1.7% |
| WAB Wabtec Corp. | 2.83% | 75,832 | $13.8M | Reduce -1.6% |
| TFX Teleflex Inc. | 2.50% | 87,747 | $12.1M | Add +20.6% |
| CHRW C.H. Robinson Worldwide Inc. | 2.48% | 117,831 | $12.1M | Reduce -1.7% |
| ATR Aptargroup Inc. | 2.47% | 80,864 | $12.0M | Add +56.2% |
| DVN Devon Energy Corp. | 2.47% | 320,188 | $12.0M | Add +1.7% |
| KEYS Keysight Technologies Inc. | 2.43% | 78,818 | $11.8M | Reduce -1.7% |
| NTRS Northern Trust Corp. | 2.42% | 119,282 | $11.8M | Reduce -1.6% |
| BRO Brown & Brown Inc. | 2.41% | 94,083 | $11.7M | Reduce -17.0% |
| LH Labcorp Holdings Inc. | 2.27% | 47,435 | $11.0M | Reduce -1.8% |
| MHK Mohawk Industries Inc. | 2.27% | 96,448 | $11.0M | Reduce -1.6% |
| MSA Msa Safety Inc. | 2.24% | 74,263 | $10.9M | New |
| SON Sonoco Products Co. | 2.11% | 217,255 | $10.3M | Reduce -29.4% |
| MGEE Mge Energy Inc. | 2.10% | 109,570 | $10.2M | Reduce -1.4% |
| CASY Casey's General Stores Inc. | 2.06% | 23,062 | $10.0M | Reduce -1.4% |
| WERN Werner Enterprises Inc. | 1.77% | 293,274 | $8.6M | Reduce -1.7% |
| REVG Rev Group Inc. | 1.00% | 153,233 | $4.8M | New |
| LEG Leggett & Platt Inc. | 0.41% | 248,773 | $2.0M | No change |
| WSM Williams-Sonoma Inc. | 0.29% | 8,888 | $1.4M | No change |
| ETN Eaton Corp. PLC | 0.22% | 3,926 | $1.1M | Reduce -2.5% |
| NSIT Insight Enterprises Inc. | 0.19% | 6,244 | $937K | No change |
| MCY Mercury General Corp. | 0.17% | 15,157 | $847K | No change |
| HSIC Henry Schein Inc. | 0.10% | 7,024 | $481K | Reduce -97.0% |
| PGR Progressive Corp. | 0.08% | 1,426 | $404K | No change |
Portfolio Sells Q4 2024 → Q1 2025
| HSIC Henry Schein Inc. | Reduce -97.0% | 0.10% | −3.14 |
| CABO Cable One Inc. | Sold out | 0.00% | −1.88 |
| SON Sonoco Products Co. | Reduce -29.4% | 2.11% | −0.85 |
| HXL Hexcel Corp. | Reduce -1.8% | 3.22% | −0.38 |
| WERN Werner Enterprises Inc. | Reduce -1.7% | 1.77% | −0.34 |
| TTC Toro Co. | Reduce -1.8% | 3.09% | −0.23 |
| ARW Arrow Electronics Inc. | Reduce -1.7% | 3.26% | −0.20 |
| DVA Davita Inc. | Reduce -12.0% | 2.92% | −0.19 |
| RPM RPM International Inc. | Reduce -1.7% | 3.94% | −0.14 |
| KEYS Keysight Technologies Inc. | Reduce -1.7% | 2.43% | −0.11 |
| MTB M & T Bank Corp. | Reduce -1.6% | 3.04% | −0.07 |
| WAB Wabtec Corp. | Reduce -1.6% | 2.83% | −0.05 |
| ETN Eaton Corp. PLC | Reduce -2.5% | 0.22% | −0.04 |
| MHK Mohawk Industries Inc. | Reduce -1.6% | 2.27% | −0.04 |
| NTRS Northern Trust Corp. | Reduce -1.6% | 2.42% | −0.03 |
| MWA Mueller Water Products Inc. Class A | Reduce -15.3% | 3.01% | −0.00 |
| ORLY O'reilly Automotive Inc. | Reduce -20.1% | 3.05% | +0.02 |
| MGEE Mge Energy Inc. | Reduce -1.4% | 2.10% | +0.04 |
| CHRW C.H. Robinson Worldwide Inc. | Reduce -1.7% | 2.48% | +0.04 |
| CBSH Commerce Bancshares Inc. | Reduce -1.7% | 2.96% | +0.07 |
| WTM White Mountains Insurance GP | Reduce -1.6% | 4.43% | +0.07 |
| LH Labcorp Holdings Inc. | Reduce -1.8% | 2.27% | +0.09 |
| BRO Brown & Brown Inc. | Reduce -17.0% | 2.41% | +0.13 |
| TSCO Tractor Supply Company | Reduce -1.7% | 2.83% | +0.18 |
| CASS Cass Information Systems Inc. | Reduce -1.8% | 2.88% | +0.22 |
| CASY Casey's General Stores Inc. | Reduce -1.4% | 2.06% | +0.23 |
| SJM The JM Smucker Co. | Reduce -1.7% | 3.39% | +0.32 |
| STE Steris PLC | Reduce -1.6% | 3.06% | +0.36 |
| ZBH Zimmer Biomet Holdings Inc. | Reduce -1.7% | 4.17% | +0.38 |
| WRB WR Berkley Corp. | Reduce -1.6% | 3.30% | +0.66 |
Portfolio Buys Q4 2024 → Q1 2025
| MSA Msa Safety Inc. | New | 2.24% | +2.24 |
| REVG Rev Group Inc. | New | 1.00% | +1.00 |
| ATR Aptargroup Inc. | Add +56.2% | 2.47% | +0.87 |
| IEX Idex Corp. | Add +58.8% | 2.85% | +0.86 |
| DVN Devon Energy Corp. | Add +1.7% | 2.47% | +0.43 |
| GNTX Gentex Corp. | Add +18.3% | 3.28% | +0.00 |
| TFX Teleflex Inc. | Add +20.6% | 2.50% | −0.06 |
| FMC FMC Corp. | Add +1.2% | 4.02% | −0.36 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 37 | $467.7M | CBSH, WTM, MGEE, CASS, STE |
| Q1 2026 | 38 | $439.0M | WTM, CBSH, HXL, SON, CASS |
| Q4 2025 | 42 | $462.0M | WTM, HXL, CBSH, RPM, ARW |
| Q3 2025 | 44 | $500.5M | HXL, RPM, ZBH, GNTX, WTM |
| Q2 2025 | 43 | $491.1M | WTM, ARW, HXL, RPM, MTB |
| Q1 2025 | 42 | $485.6M | WTM, ZBH, FMC, RPM, SJM |
| Q4 2024 | 41 | $506.9M | FMC, WTM, RPM, ZBH, HXL |
| Q3 2024 | 42 | $541.3M | FMC, RPM, ZBH, WTM, ARW |
| Q2 2024 | 42 | $489.0M | FMC, WTM, ZBH, RPM, MTB |
| Q1 2024 | 43 | $517.4M | WTM, ZBH, RPM, MTB, GNTX |