Mairs & Power

Q3 2013 13F

As of: Sep 30, 2013
Filed: Nov 14, 2013
US stock: $5.8B · prev $5.2B
Positions: 186 · prev 179
Options notional: $0
Documents: 1· no amendments

Picture99.3% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 99.3%
Foreign stock not listed in the US 0.7%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves163 since the prior filing

+3.3 pp in · −3.4 pp out

New 15 +0.79 pp
Added 72 +2.54 pp
Trimmed 68 −3.39 pp
Exited 8 −0.06 pp

The book

Diversified · behaves like 42 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 6.8% a year, about 14.8 years per position

Low
Moderate
High

Top 5 positions19% of US stock

MMM 3M Company trimmed−0.09 pp trimmed−0.094.5%
EMR Emerson Electric Co. trimmed+0.24 pp trimmed+0.243.8%
unresolved Medtronic Inc trimmed−0.36 pp trimmed−0.363.8%
USB U.S. Bancorp added+0.25 pp added+0.253.6%
unresolved Pentair Ltd trimmed−0.06 pp trimmed−0.063.5%

Positions186 in this filing · 8 exited


MMM3M Company	4.51%	2,183,771	$261M	trimmed−1%	−0.09 pp	2 q
EMREmerson Electric Co.	3.82%	3,416,823	$221M	trimmed−1%	+0.24 pp	2 q
unresolvedMedtronic Inc	3.76%	4,088,239	$218M	trimmed−2%	−0.36 pp	2 q
USBU.S. Bancorp	3.61%	5,715,194	$209M	added+18%	+0.25 pp	2 q
unresolvedPentair Ltd	3.55%	3,159,682	$205M	trimmed−3%	−0.06 pp	2 q
unresolvedValspar Corp	3.51%	3,203,112	$203M	added+1%	−0.40 pp	2 q
ECLEcolab, Inc.	3.45%	2,023,189	$200M	trimmed−1%	+0.13 pp	2 q
HONHoneywell International, Inc.	3.35%	2,336,623	$194M	trimmed−1%	−0.23 pp	2 q
TGTTarget Corporation	3.35%	3,034,586	$194M	added+4%	−0.51 pp	2 q
SLBSLB Limited	3.05%	2,000,388	$177M	added+44%	+1.15 pp	2 q
TTCToro Company (The)	3.02%	3,214,803	$175M	trimmed−0%	+0.22 pp	2 q
GGGGraco Inc	2.98%	2,327,242	$172M	trimmed−16%	−0.38 pp	2 q
FULH.B. Fuller Company	2.96%	3,793,676	$171M	added0%	+0.22 pp	2 q
DCIDonaldson Company, Inc.	2.73%	4,136,649	$158M	added+6%	+0.06 pp	2 q
JNJJohnson & Johnson	2.72%	1,815,415	$157M	trimmed−1%	−0.29 pp	2 q
HRLHormel Foods Corporation	2.39%	3,283,857	$138M	trimmed−1%	−0.05 pp	2 q
unresolvedBemis Inc	2.29%	3,403,731	$133M	trimmed−0%	−0.27 pp	2 q
WFCWells Fargo & Co.	2.27%	3,185,111	$132M	trimmed−7%	−0.45 pp	2 q
unresolvedGeneral Electric Co	2.20%	5,321,589	$127M	trimmed−0%	−0.16 pp	2 q
GISGeneral Mills, Inc.	2.06%	2,487,171	$119M	trimmed−1%	−0.26 pp	2 q
BAXBaxter International Inc.	1.99%	1,754,137	$115M	trimmed−1%	−0.35 pp	2 q
MTSCMTS Systems Corp	1.98%	1,780,305	$115M	added0%	+0.06 pp	2 q
unresolvedSt Jude Med Inc	1.96%	2,119,012	$114M	added+9%	+0.26 pp	2 q
PFGPrincipal Financial Group, Inc.	1.95%	2,639,222	$113M	trimmed−2%	+0.03 pp	2 q
UPSUnited Parcel Service, Inc. Class B	1.83%	1,160,969	$106M	added+4%	−0.01 pp	2 q
CHRWC.H. Robinson Worldwide, Inc.	1.78%	1,729,241	$103M	added+18%	+0.21 pp	2 q
FISVFiserv, Inc.	1.68%	960,386	$97M	added×2.0	+0.89 pp	2 q
PDCOPatterson Companies, Inc.	1.37%	1,975,137	$79M	trimmed−1%	−0.07 pp	2 q
PFEPfizer Inc.	1.28%	2,584,820	$74M	trimmed−1%	−0.12 pp	2 q
FASTFastenal Co	1.10%	1,265,670	$64M	added+10%	+0.09 pp	2 q
unresolvedTcf Financial Corp	1.10%	4,454,194	$64M	trimmed−1%	−0.12 pp	2 q
GLWCorning Incorporated	1.07%	4,234,160	$62M	trimmed−1%	−0.10 pp	2 q
unresolvedTechne Corp	1.04%	754,481	$60M	added+3%	+0.07 pp	2 q
WUThe Western Union Company	1.01%	3,145,370	$59M	trimmed−1%	−0.03 pp	2 q
TRVThe Travelers Companies, Inc.	0.96%	657,495	$56M	trimmed−0%	−0.05 pp	2 q
ZBHZimmer Biomet Holdings, Inc.	0.95%	669,587	$55M	trimmed−4%	−0.05 pp	2 q
DISThe Walt Disney Company	0.90%	805,363	$52M	added+20%	+0.09 pp	2 q
XOMExxon Mobil Corp	0.88%	589,486	$51M	added+1%	−0.13 pp	2 q
ASBAssociated Banc-Corp	0.84%	3,154,731	$49M	added+14%	+0.02 pp	2 q
QCOMQualcomm Inc	0.84%	725,590	$49M	added+3%	+0.01 pp	2 q
unresolvedG & K Services Cl A	0.76%	730,229	$44M	trimmed−5%	+0.06 pp	2 q
RHHBYRoche Holding Ltd S/	0.71%	610,205	$41M	new	+0.71 pp	new
BMIBadger Meter, Inc.	0.62%	774,667	$36M	added+4%	−0.02 pp	2 q
NVECNVE Corp	0.58%	658,754	$34M	added+1%	0.00 pp	2 q
CRAYCray, Inc.	0.56%	1,358,320	$33M	added0%	+0.05 pp	2 q
INTCIntel Corp	0.55%	1,397,497	$32M	added+1%	−0.09 pp	2 q
COPConocoPhillips	0.53%	440,238	$31M	trimmed−3%	+0.01 pp	2 q
DAKTDaktronics Inc	0.51%	2,612,252	$29M	trimmed−1%	−0.01 pp	2 q
MDUMDU Resources Group, Inc.	0.44%	913,832	$26M	added+96%	+0.21 pp	2 q
HDHome Depot, Inc.	0.35%	270,525	$21M	trimmed−6%	−0.08 pp	2 q
DLXDeluxe Corporation	0.34%	479,147	$20M	added+1%	+0.03 pp	2 q
BPBP p.l.c.	0.31%	426,953	$18M	trimmed−6%	−0.05 pp	2 q
SU6Surmodics Inc	0.31%	750,540	$18M	trimmed−0%	+0.02 pp	2 q
CVXChevron Corporation	0.29%	136,096	$17M	added+2%	−0.01 pp	2 q
IBMInternational Business Machines Corporation	0.28%	87,950	$16M	trimmed−0%	−0.04 pp	2 q
PGProcter & Gamble Company	0.28%	214,282	$16M	trimmed−4%	−0.05 pp	2 q
KMBKimberly-Clark Corp.	0.27%	164,829	$16M	trimmed−1%	−0.04 pp	2 q
XELXcel Energy, Inc.	0.27%	575,634	$16M	trimmed−0%	−0.04 pp	2 q
LLYEli Lilly & Co.	0.26%	296,659	$15M	added+5%	−0.01 pp	2 q
BMYBristol-Myers Squibb Co.	0.24%	304,956	$14M	trimmed−7%	−0.04 pp	2 q
JPMJPMorgan Chase & Co.	0.24%	265,463	$14M	trimmed−14%	−0.07 pp	2 q
ABBVAbbvie Inc.	0.21%	268,187	$12M	trimmed−4%	−0.01 pp	2 q
ABTAbbott Laboratories	0.19%	338,861	$11M	added+4%	−0.03 pp	2 q
VZVerizon Communications	0.18%	220,055	$10M	trimmed−8%	−0.05 pp	2 q
AEBAAllete Inc	0.17%	201,253	$10M	added+10%	0.00 pp	2 q
AXPAmerican Express Company	0.13%	96,119	$7M	added+1%	−0.01 pp	2 q
MSFTMicrosoft Corp	0.11%	185,898	$6M	trimmed−24%	−0.05 pp	2 q
SNASnap-on Incorporated	0.11%	61,856	$6M	added+2%	+0.01 pp	2 q
MRKMerck & Co., Inc.	0.09%	113,404	$5M	trimmed−17%	−0.03 pp	2 q
SPYState Street SPDR S&P 500 ETF Trust	0.09%	32,215	$5M	added+19%	+0.01 pp	2 q
SSYSStratasys Inc (ISRAEL)	0.06%	31,730	$3M	added+9%	+0.01 pp	2 q
ADCAgree Realty Corporation	0.05%	91,000	$3M	added×2.8	+0.03 pp	2 q
MURMurphy Oil Corp.	0.05%	50,500	$3M	held	—	2 q
APOGApogee Enterprises Inc	0.04%	75,900	$2M	added+28%	+0.01 pp	2 q
unresolvedBuffalo Wild Wings Inc	0.04%	20,200	$2M	added+12%	+0.01 pp	2 q
CASYCasey's General Stores Inc	0.04%	32,700	$2M	added+14%	+0.01 pp	2 q
HWKNHawkins Inc	0.04%	68,000	$3M	added+32%	0.00 pp	2 q
unresolvedLandauer	0.04%	40,329	$2M	added+22%	+0.01 pp	2 q
OASOasis Petroleum Inc	0.04%	49,000	$2M	added+25%	+0.01 pp	2 q
OSKOshkosh Corp.	0.04%	43,800	$2M	trimmed−6%	+0.01 pp	2 q
unresolvedPrivatebancorp Inc	0.04%	105,600	$2M	added+13%	0.00 pp	2 q
SCHBSchwab U.S. Broad Market ETF	0.04%	50,330	$2M	held	—	2 q
RGRSturm, Ruger & Company, Inc.	0.04%	33,800	$2M	held	—	2 q
WTFCWintrust Financial Corp	0.04%	62,300	$3M	added+16%	0.00 pp	2 q
unresolvedBank Mutual Corp	0.03%	278,613	$2M	held	—	2 q
BRK.BBERKSHIRE HATHAWAY Class B	0.03%	14,573	$2M	trimmed−3%	0.00 pp	2 q
GTLSChart Inds Inc	0.03%	14,500	$2M	trimmed−13%	0.00 pp	2 q
HSYThe Hershey Company	0.03%	19,618	$2M	trimmed−2%	0.00 pp	2 q
HUBGHUB Group Inc	0.03%	41,700	$2M	held	—	2 q
unresolvedKodiak Oil & Gas Corp	0.03%	145,000	$2M	trimmed−11%	0.00 pp	2 q
unresolvedManitowoc Inc	0.03%	90,000	$2M	new	+0.03 pp	new
MCDMcDonald's Corporation	0.03%	19,817	$2M	added+2%	−0.01 pp	2 q
unresolvedMOCON Inc.	0.03%	146,675	$2M	added+40%	0.00 pp	2 q
PSXPhillips 66	0.03%	33,534	$2M	added+3%	−0.01 pp	2 q
PRLBProto Labs, Inc.	0.03%	21,404	$2M	held	—	2 q
RDS.ARoyal Dutch Shell PLC	0.03%	22,526	$1M	added0%	0.00 pp	2 q
SCHWThe Charles Schwab Corporation	0.03%	84,300	$2M	added+29%	0.00 pp	2 q
TITNTitan Machinery Inc.	0.03%	101,000	$2M	added+16%	0.00 pp	2 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	0.03%	21,204	$2M	trimmed−5%	0.00 pp	2 q
unresolvedIngersoll-Rand Plc	0.03%	25,781	$2M	added+1%	0.00 pp	2 q
TAT&T Inc.	0.02%	41,762	$1M	trimmed−0%	−0.01 pp	2 q
unresolvedAdvent Software Inc	0.02%	33,200	$1M	added+42%	0.00 pp	2 q
AMGNAmgen Inc	0.02%	11,180	$1M	trimmed−3%	0.00 pp	2 q
BACBank of America Corporation	0.02%	82,423	$1M	added+3%	0.00 pp	2 q
BMOBank of Montreal	0.02%	18,636	$1M	held	—	2 q
unresolvedCabelas Inc. Cl A	0.02%	16,400	$1M	trimmed−16%	0.00 pp	2 q
CSCOCisco Systems, Inc. (DE)	0.02%	54,137	$1M	trimmed−2%	−0.01 pp	2 q
KOCoca-Cola Company	0.02%	26,740	$1M	added+6%	0.00 pp	2 q
GPCGenuine Parts Company	0.02%	16,050	$1M	held	—	2 q
IVViShares Core S&P 500 ETF	0.02%	5,933	$1M	trimmed−16%	0.00 pp	2 q
NOGNorthern Oil and Gas, Inc.	0.02%	96,620	$1M	new	+0.02 pp	new
PEPPepsiCo, Inc.	0.02%	13,699	$1M	added0%	0.00 pp	2 q
PMPhilip Morris International Inc.	0.02%	11,155	$966,000	added+34%	+0.01 pp	2 q
RYRoyal Bank of Canada	0.02%	17,890	$1M	held	—	2 q
SPSCSPS Commerce, Inc.	0.02%	14,400	$964,000	held	—	2 q
SCHFSchwab International Equity ETF	0.02%	43,000	$1M	held	—	2 q
unresolvedSigma Aldrich Corp	0.02%	11,051	$943,000	added+1%	0.00 pp	2 q
UTXZRTX Corporation	0.02%	10,688	$1M	added+1%	0.00 pp	2 q
unresolvedVasco Data Sec Intl Inc	0.02%	150,400	$1M	held	—	2 q
unresolvedVascular Solutions	0.02%	75,276	$1M	added+6%	0.00 pp	2 q
WDRWaddell & Reed Financial, Inc.	0.02%	23,900	$1M	held	—	2 q
unresolvedWalgreen Co	0.02%	16,788	$903,000	trimmed−1%	+0.01 pp	2 q
MOAltria Group, Inc.	0.01%	10,385	$357,000	added+20%	0.00 pp	2 q
APCAnadarko Petroleum Corp	0.01%	3,896	$362,000	added+1%	0.00 pp	2 q
AAPLApple Inc.	0.01%	1,583	$755,000	added+10%	0.00 pp	2 q
ADPAutomatic Data Processing	0.01%	5,127	$371,000	added+3%	0.00 pp	2 q
BOHBank of Hawaii Corp.	0.01%	10,000	$545,000	held	—	2 q
BDXBecton, Dickinson and Co.	0.01%	5,038	$504,000	trimmed−3%	0.00 pp	2 q
BRK.ABerkshire Hathaway Inc.	0.01%	3	$511,000	new	+0.01 pp	new
unresolvedCigna Corporation	0.01%	4,890	$376,000	added0%	0.00 pp	2 q
CATCaterpillar Inc.	0.01%	4,186	$349,000	trimmed−6%	0.00 pp	2 q
CLColgate-Palmolive Company	0.01%	9,598	$569,000	trimmed−2%	0.00 pp	2 q
DDominion Energy, Inc	0.01%	6,794	$424,000	held	—	2 q
ECHOEcho Global Logistics Inc	0.01%	40,593	$850,000	added+33%	0.00 pp	2 q
FDXFedEx Corporation	0.01%	3,470	$396,000	added+4%	0.00 pp	2 q
unresolvedGoogle Inc.	0.01%	476	$417,000	added+16%	0.00 pp	2 q
IFFInternational Flavors & Fragrances Inc.	0.01%	4,546	$374,000	held	—	2 q
EEMiShares MSCI Emerging Markets ETF	0.01%	10,745	$438,000	trimmed−9%	0.00 pp	2 q
EFAiShares MSCI EAFE ETF	0.01%	9,848	$628,000	trimmed−1%	0.00 pp	2 q
IWMiShares Russell 2000 ETF	0.01%	3,034	$323,000	added+15%	+0.01 pp	2 q
LNCLincoln National Corp.	0.01%	20,000	$840,000	held	—	2 q
unresolvedMinnesota Muni Income Portfoli	0.01%	31,200	$469,000	held	—	2 q
MUSAMurphy USA Inc.	0.01%	12,625	$510,000	new	+0.01 pp	new
NVSNovartis AG	0.01%	3,824	$293,000	trimmed−11%	0.00 pp	2 q
ORCLOracle Corp	0.01%	13,720	$455,000	added+11%	0.00 pp	2 q
MINTPIMCO Enhanced Short Maturity Active Exchange-Traded Fund	0.01%	7,992	$810,000	held	—	2 q
PIIPolaris Inc.	0.01%	4,240	$548,000	trimmed−3%	0.00 pp	2 q
unresolvedSuperior Energy Services Inc	0.01%	32,900	$824,000	trimmed−23%	−0.01 pp	2 q
TNCTennant Company	0.01%	9,200	$570,000	held	—	2 q
VBVanguard Morningstar Small-Cap ETF	0.01%	5,385	$552,000	new	+0.01 pp	new
WMTWalmart Inc.	0.01%	11,153	$825,000	trimmed−1%	−0.01 pp	2 q
AMPAmeriprise Financial, Inc.	0.00%	2,431	$221,000	new	0.00 pp	new
9990302DApache Corp	0.00%	2,933	$250,000	trimmed−8%	−0.01 pp	2 q
BGSB&G Foods, Inc.	0.00%	6,360	$220,000	held	—	2 q
BIIBBiogen Inc.	0.00%	1,125	$271,000	trimmed−13%	−0.01 pp	2 q
unresolvedBlackrock Real Asset Eq Tr	0.00%	24,524	$220,000	trimmed−5%	0.00 pp	2 q
BABoeing Company	0.00%	2,030	$239,000	added+3%	0.00 pp	2 q
CNPCenterPoint Energy, Inc.	0.00%	9,690	$232,000	held	—	2 q
CMCSAComcast Corp	0.00%	4,672	$211,000	trimmed−3%	0.00 pp	2 q
COSTCostco Wholesale Corp	0.00%	2,169	$250,000	added+10%	0.00 pp	2 q
DEDeere & Company	0.00%	2,480	$202,000	trimmed−9%	0.00 pp	2 q
EXCExelon Corporation	0.00%	7,933	$235,000	trimmed−0%	0.00 pp	2 q
IEXIDEX Corporation	0.00%	4,072	$266,000	held	—	2 q
ITWIllinois Tool Works Inc.	0.00%	3,457	$264,000	added+3%	0.00 pp	2 q
INODInnodata Inc.	0.00%	48,597	$126,000	new	0.00 pp	new
unresolvedIntegrys Energy Group	0.00%	4,380	$245,000	held	—	2 q
IVWiShares S&P 500 Growth ETF	0.00%	3,233	$289,000	held	—	2 q
IWRiShares Russell Mid-Cap ETF	0.00%	2,010	$280,000	new	0.00 pp	new
IJRiShares Core S&P Small-Cap ETF	0.00%	2,345	$234,000	new	0.00 pp	new
KELKellanova	0.00%	3,981	$234,000	added+3%	0.00 pp	2 q
USALiberty All-Star Equity Fund	0.00%	11,729	$63,000	held	—	2 q
LOWLowe's Companies Inc.	0.00%	5,683	$271,000	added+8%	0.00 pp	2 q
NSRGYNestle S.a S/	0.00%	3,043	$213,000	new	0.00 pp	new
NEENextEra Energy, Inc.	0.00%	3,433	$275,000	added+6%	−0.01 pp	2 q
NSCNorfolk Southern Corp.	0.00%	3,504	$271,000	trimmed−1%	0.00 pp	2 q
OXYOccidental Petroleum Corporation	0.00%	2,150	$201,000	new	0.00 pp	new
unresolvedPershing Gold Corp	0.00%	15,000	$6,000	new	0.00 pp	new
POMPolymet Mining Corp	0.00%	10,000	$8,000	held	—	2 q
PCYOPure Cycle Corporation	0.00%	11,855	$55,000	held	—	2 q
unresolvedSonus Networks	0.00%	15,000	$51,000	held	—	2 q
unresolvedSynovus Financial Corp	0.00%	11,140	$37,000	held	—	2 q
SYYSysco Corporation	0.00%	6,415	$204,000	new	0.00 pp	new
UNPUnion Pacific Corp.	0.00%	1,817	$282,000	added+1%	−0.01 pp	2 q
VWOVanguard FTSE Emerging Markets ETF	0.00%	6,012	$241,000	new	0.00 pp	new
VVISA Inc.	0.00%	1,402	$268,000	trimmed−21%	−0.01 pp	2 q
WABCWestamerica Bancorporation	0.00%	5,359	$267,000	held	—	2 q
unresolvedWashington Post Co	—	−2,500	—	exited	−0.02 pp	—
WMBWilliams Companies Inc.	—	−26,000	—	exited	−0.02 pp	—
FCXFreeport-McMoran Inc.	—	−15,810	—	exited	−0.01 pp	—
IJSiShares S&P Small-Cap 600 Value ETF	—	−3,651	—	exited	−0.01 pp	—
CCitigroup Inc.	—	−4,338	—	exited	0.00 pp	—
unresolvedPolymet Mining Corp Rts	—	−10,000	—	exited	0.00 pp	—
unresolvedPowershares Fin Pfd ETF	—	−11,042	—	exited	0.00 pp	—
WYWeyerhaeuser Company	—	−8,924	—	exited	0.00 pp	—

Source

Form: 13F-HR
Reading: 3 defects · 32 unresolved
Accession: 0001104659-13-084634
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet

A security outside the official 13F list — CUSIP 641069406 not on the Official 13(f) List for 2013-09-30
A security outside the official 13F list — CUSIP 715302105 not on the Official 13(f) List for 2013-09-30
A security outside the official 13F list — CUSIP 771195104 not on the Official 13(f) List for 2013-09-30

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