Speece Thorson Capital Group Inc.

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 20, 2025), Speece Thorson Capital Group Inc. reported 44 stock positions worth $500.5 million. Its top holding was Hexcel (HXL) at 4.1% of the portfolio, followed by RPM International (RPM, 3.9%) and Zimmer Biomet (ZBH, 3.9%). Compared with Q2 2025, it opened 1 new position, added to 3 and reduced 32. The biggest buy was a new position in Hormel Foods (HRL) and the biggest sale Northern Trust (NTRS, shares −44%).

Most Recent 13F
Q2 2026
Location
MINNETONKA, MN
CIK
0000900169
Portfolio Value
$500.5M (Q3 2025)
SEC Filing
0000900169-25-000007 ↗ filed Nov 20, 2025

Holdings Value

0$200.0M$400.0M$600.0M Q1 2024: $517.4M Q1 2024 Q2 2024: $489.0M Q2 2024 Q3 2024: $541.3M Q3 2024 Q4 2024: $506.9M Q4 2024 Q1 2025: $485.6M Q1 2025 Q2 2025: $491.1M Q2 2025 Q3 2025: $500.5M $500.5M Q3 2025 Q4 2025: $462.0M Q4 2025 Q1 2026: $439.0M Q1 2026 Q2 2026: $467.7M Q2 2026

Holdings 44 stocks · $500.5M
HXL Hexcel Corp. 4.13% 329,538 $20.7M Reduce -1.2%
RPM RPM International Inc. 3.93% 166,873 $19.7M Reduce -1.1%
ZBH Zimmer Biomet Holdings Inc. 3.93% 199,491 $19.6M Reduce -1.1%
GNTX Gentex Corp. 3.90% 689,585 $19.5M Reduce -1.2%
WTM White Mountains Insurance GP 3.76% 11,262 $18.8M Reduce -1.1%
ARW Arrow Electronics Inc. 3.71% 153,646 $18.6M Reduce -1.2%
MTB M & T Bank Corp. filed as M & T BK CORP 3.71% 94,021 $18.6M Reduce -1.1%
SJM The JM Smucker Co. filed as SMUCKER J M CO 3.56% 164,248 $17.8M Reduce -1.2%
ORLY O'reilly Automotive Inc. 3.37% 156,212 $16.8M Reduce -1.1%
TTC Toro Co. 3.18% 208,738 $15.9M Reduce -1.2%
WAB Wabtec Corp. 3.06% 76,480 $15.3M Reduce -1.1%
SON Sonoco Products Co. 3.02% 351,050 $15.1M Reduce -1.1%
IEX Idex Corp. 2.91% 89,429 $14.6M Reduce -1.2%
TSCO Tractor Supply Company 2.86% 251,866 $14.3M Reduce -1.1%
CBSH Commerce Bancshares Inc. 2.79% 233,265 $13.9M Reduce -1.2%
KEYS Keysight Technologies Inc. 2.78% 79,620 $13.9M Reduce -1.2%
CASS Cass Information Systems Inc. 2.76% 351,073 $13.8M Add +6.4%
LH Labcorp Holdings Inc. 2.75% 47,868 $13.7M Reduce -1.2%
STE Steris PLC 2.72% 54,977 $13.6M Reduce -1.1%
ATR Aptargroup Inc. 2.66% 99,470 $13.3M Add +20.3%
MSA Msa Safety Inc. 2.59% 75,300 $13.0M Reduce -1.2%
MHK Mohawk Industries Inc. 2.51% 97,277 $12.5M Reduce -1.1%
MWA Mueller Water Products Inc. Class A 2.50% 491,022 $12.5M Reduce -15.9%
DVA Davita Inc. 2.48% 93,463 $12.4M Reduce -1.1%
WRB WR Berkley Corp. filed as BERKLEY W R CORP 2.34% 153,169 $11.7M Reduce -1.1%
MGEE Mge Energy Inc. 2.28% 135,559 $11.4M Add +20.9%
DVN Devon Energy Corp. 2.27% 323,606 $11.3M Reduce -1.3%
CHRW C.H. Robinson Worldwide Inc. 2.20% 83,150 $11.0M Reduce -1.1%
TFX Teleflex Inc. 2.17% 88,757 $10.9M Reduce -1.2%
CASY Casey's General Stores Inc. 2.17% 19,199 $10.9M Reduce -18.0%
FMC FMC Corp. 2.07% 308,478 $10.4M Reduce -1.2%
NTRS Northern Trust Corp. 1.85% 68,669 $9.2M Reduce -43.5%
AZZ Azz Inc. 1.80% 82,704 $9.0M Reduce -1.2%
BRO Brown & Brown Inc. 1.78% 94,787 $8.9M Reduce -1.1%
REVG Rev Group Inc. 1.37% 120,886 $6.9M Reduce -23.1%
HRL Hormel Foods Corp. 0.83% 168,522 $4.2M New
WSM Williams-Sonoma Inc. 0.35% 8,888 $1.7M No change
ETN Eaton Corp. PLC 0.29% 3,926 $1.5M No change
MCY Mercury General Corp. 0.25% 14,586 $1.2M No change
NSIT Insight Enterprises Inc. 0.14% 6,244 $708K No change
HSIC Henry Schein Inc. 0.08% 6,166 $409K No change
WERN Werner Enterprises Inc. 0.08% 14,563 $383K No change
PGR Progressive Corp. 0.07% 1,426 $352K No change
LEG Leggett & Platt Inc. 0.05% 27,094 $241K No change

Portfolio Sells Q2 2025 → Q3 2025
NTRS Northern Trust Corp. Reduce -43.5% 1.85% −1.29
FMC FMC Corp. Reduce -1.2% 2.07% −0.58
WTM White Mountains Insurance GP Reduce -1.1% 3.76% −0.40
BRO Brown & Brown Inc. Reduce -1.1% 1.78% −0.39
MWA Mueller Water Products Inc. Class A Reduce -15.9% 2.50% −0.35
IEX Idex Corp. Reduce -1.2% 2.91% −0.33
ARW Arrow Electronics Inc. Reduce -1.2% 3.71% −0.32
CASY Casey's General Stores Inc. Reduce -18.0% 2.17% −0.26
DVA Davita Inc. Reduce -1.1% 2.48% −0.26
WAB Wabtec Corp. Reduce -1.1% 3.06% −0.23
CBSH Commerce Bancshares Inc. Reduce -1.2% 2.79% −0.20
REVG Rev Group Inc. Reduce -23.1% 1.37% −0.15
SON Sonoco Products Co. Reduce -1.1% 3.02% −0.13
MTB M & T Bank Corp. Reduce -1.1% 3.71% −0.04
MSA Msa Safety Inc. Reduce -1.2% 2.59% −0.01
STE Steris PLC Reduce -1.1% 2.72% −0.00
TFX Teleflex Inc. Reduce -1.2% 2.17% +0.00
WRB WR Berkley Corp. Reduce -1.1% 2.34% +0.03
KEYS Keysight Technologies Inc. Reduce -1.2% 2.78% +0.09
TSCO Tractor Supply Company Reduce -1.1% 2.86% +0.12
TTC Toro Co. Reduce -1.2% 3.18% +0.14
DVN Devon Energy Corp. Reduce -1.3% 2.27% +0.14
RPM RPM International Inc. Reduce -1.1% 3.93% +0.16
LH Labcorp Holdings Inc. Reduce -1.2% 2.75% +0.16
ZBH Zimmer Biomet Holdings Inc. Reduce -1.1% 3.93% +0.18
AZZ Azz Inc. Reduce -1.2% 1.80% +0.19
SJM The JM Smucker Co. Reduce -1.2% 3.56% +0.24
HXL Hexcel Corp. Reduce -1.2% 4.13% +0.29
MHK Mohawk Industries Inc. Reduce -1.1% 2.51% +0.41
ORLY O'reilly Automotive Inc. Reduce -1.1% 3.37% +0.47
CHRW C.H. Robinson Worldwide Inc. Reduce -1.1% 2.20% +0.56
GNTX Gentex Corp. Reduce -1.2% 3.90% +0.77

Portfolio Buys Q2 2025 → Q3 2025
HRL Hormel Foods Corp. New 0.83% +0.83
MGEE Mge Energy Inc. Add +20.9% 2.28% +0.26
ATR Aptargroup Inc. Add +20.3% 2.66% +0.02
CASS Cass Information Systems Inc. Add +6.4% 2.76% −0.16

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 37$467.7MCBSH, WTM, MGEE, CASS, STE
Q1 2026 38$439.0MWTM, CBSH, HXL, SON, CASS
Q4 2025 42$462.0MWTM, HXL, CBSH, RPM, ARW
Q3 2025 44$500.5MHXL, RPM, ZBH, GNTX, WTM
Q2 2025 43$491.1MWTM, ARW, HXL, RPM, MTB
Q1 2025 42$485.6MWTM, ZBH, FMC, RPM, SJM
Q4 2024 41$506.9MFMC, WTM, RPM, ZBH, HXL
Q3 2024 42$541.3MFMC, RPM, ZBH, WTM, ARW
Q2 2024 42$489.0MFMC, WTM, ZBH, RPM, MTB
Q1 2024 43$517.4MWTM, ZBH, RPM, MTB, GNTX