Mairs & Power

Q4 2014 13F

As of: Dec 31, 2014
Filed: Feb 17, 2015
US stock: $7.2B · prev $6.9B
Positions: 193 · prev 193
Options notional: $0
Documents: 1· no amendments

Picture98.8% US stock

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

US stock listed on a US exchange 98.8%
Foreign stock not listed in the US 1.2%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves176 since the prior filing

+3.8 pp in · −3.7 pp out

New 13 +3.49 pp
Added 68 +0.26 pp
Trimmed 82 −0.27 pp
Exited 13 −3.46 pp

The book

Diversified · behaves like 44 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 22% a year, about 4.7 years per position

Low
Moderate
High

Top 5 positions19% of US stock

MMM 3M Company trimmed0.00 pp trimmed0.004.3%
USB U.S. Bancorp trimmed+0.07 pp trimmed+0.073.7%
unresolved Valspar Corp trimmed+0.06 pp trimmed+0.063.6%
ECL Ecolab, Inc. added−0.25 pp added−0.253.5%
TGT Target Corporation trimmed+0.24 pp trimmed+0.243.5%

Positions193 in this filing · 13 exited


MMM3M Company	4.31%	1,889,031	$310M	trimmed−9%	0.00 pp	7 q
USBU.S. Bancorp	3.72%	5,971,295	$268M	trimmed−0%	+0.07 pp	7 q
unresolvedValspar Corp	3.56%	2,964,529	$256M	trimmed−2%	+0.06 pp	7 q
ECLEcolab, Inc.	3.53%	2,431,457	$254M	added+8%	−0.25 pp	7 q
TGTTarget Corporation	3.48%	3,306,985	$251M	trimmed−7%	+0.24 pp	7 q
MDTMedtronic plc	3.40%	3,396,496	$245M	new	+3.40 pp	new
HONHoneywell International, Inc.	3.29%	2,373,603	$237M	added+1%	+0.11 pp	7 q
EMREmerson Electric Co.	3.06%	3,575,572	$221M	trimmed−1%	−0.23 pp	7 q
unresolvedBemis Inc	2.95%	4,697,564	$212M	trimmed−0%	+0.34 pp	7 q
JNJJohnson & Johnson	2.80%	1,930,408	$202M	trimmed−3%	−0.29 pp	7 q
DCIDonaldson Company, Inc.	2.72%	5,074,213	$196M	added+8%	−0.06 pp	7 q
SLBSLB Limited	2.71%	2,284,921	$195M	added+7%	−0.45 pp	7 q
GGGGraco Inc	2.65%	2,384,009	$191M	added+1%	+0.14 pp	7 q
TTCToro Company (The)	2.55%	2,885,200	$184M	added0%	+0.06 pp	7 q
PNRPentair plc	2.44%	2,649,550	$176M	added0%	−0.08 pp	3 q
BAXBaxter International Inc.	2.37%	2,326,203	$170M	trimmed−0%	−0.08 pp	7 q
GISGeneral Mills, Inc.	2.37%	3,198,527	$171M	added0%	+0.02 pp	7 q
HRLHormel Foods Corporation	2.29%	3,170,734	$165M	trimmed−2%	−0.13 pp	7 q
WFCWells Fargo & Co.	2.14%	2,811,002	$154M	trimmed−3%	−0.06 pp	7 q
CHRWC.H. Robinson Worldwide, Inc.	2.11%	2,026,753	$152M	trimmed−2%	+0.11 pp	7 q
FULH.B. Fuller Company	2.09%	3,387,972	$151M	trimmed−0%	+0.12 pp	7 q
PFGPrincipal Financial Group, Inc.	2.06%	2,864,672	$149M	trimmed−1%	−0.15 pp	7 q
unresolvedSt Jude Med Inc	2.01%	2,224,239	$145M	added+6%	+0.18 pp	7 q
UPSUnited Parcel Service, Inc. Class B	2.01%	1,300,808	$145M	trimmed−0%	+0.14 pp	7 q
unresolvedGeneral Electric Co	1.87%	5,339,149	$135M	trimmed−1%	−0.14 pp	7 q
MTSCMTS Systems Corp	1.73%	1,656,840	$124M	trimmed−2%	+0.05 pp	7 q
TECHBio-Techne Corp.	1.66%	1,295,420	$120M	added+19%	+0.17 pp	2 q
FISVFiserv, Inc.	1.66%	1,688,871	$120M	trimmed−8%	−0.07 pp	7 q
WUThe Western Union Company	1.46%	5,875,675	$105M	trimmed−0%	+0.08 pp	7 q
FASTFastenal Co	1.41%	2,133,911	$101M	added+6%	+0.09 pp	7 q
DISThe Walt Disney Company	1.24%	944,963	$89M	trimmed−2%	−0.02 pp	7 q
RHHBYRoche Holding Ltd S/	1.23%	2,609,371	$89M	added+9%	−0.06 pp	6 q
QCOMQualcomm Inc	1.21%	1,173,597	$87M	added+19%	+0.13 pp	7 q
PFEPfizer Inc.	1.15%	2,657,601	$83M	added+1%	+0.02 pp	7 q
CRAYCray, Inc.	1.11%	2,324,885	$80M	trimmed−2%	+0.20 pp	7 q
PDCOPatterson Companies, Inc.	1.07%	1,602,914	$77M	trimmed−5%	+0.05 pp	7 q
BMIBadger Meter, Inc.	1.04%	1,257,440	$75M	added0%	+0.12 pp	7 q
GLWCorning Incorporated	1.04%	3,265,395	$75M	trimmed−4%	+0.08 pp	7 q
TRVThe Travelers Companies, Inc.	0.94%	637,197	$67M	added0%	+0.07 pp	7 q
XOMExxon Mobil Corp	0.91%	708,113	$65M	added+5%	−0.02 pp	7 q
ZBHZimmer Biomet Holdings, Inc.	0.88%	558,549	$63M	trimmed−11%	−0.05 pp	7 q
ASBAssociated Banc-Corp	0.84%	3,266,177	$61M	trimmed−2%	0.00 pp	7 q
MDUMDU Resources Group, Inc.	0.75%	2,287,900	$54M	added+6%	−0.12 pp	7 q
DLXDeluxe Corporation	0.69%	798,877	$50M	added0%	+0.05 pp	7 q
NVECNVE Corp	0.65%	664,699	$47M	trimmed−1%	+0.02 pp	7 q
unresolvedG & K Services Cl A	0.62%	626,546	$44M	trimmed−7%	+0.08 pp	7 q
unresolvedTcf Financial Corp	0.53%	2,408,841	$38M	trimmed−39%	−0.36 pp	7 q
GNRCGenerac Holdings Inc	0.51%	788,640	$37M	added+10%	+0.09 pp	4 q
IBMInternational Business Machines Corporation	0.47%	212,712	$34M	added+7%	−0.08 pp	7 q
COPConocoPhillips	0.45%	466,676	$32M	added+5%	−0.05 pp	7 q
PGProcter & Gamble Company	0.36%	281,852	$26M	added0%	+0.02 pp	7 q
HDHome Depot, Inc.	0.34%	236,015	$25M	trimmed−2%	+0.02 pp	7 q
CVXChevron Corporation	0.30%	191,621	$21M	added+2%	−0.03 pp	7 q
LLYEli Lilly & Co.	0.28%	287,457	$20M	trimmed−1%	+0.01 pp	7 q
JPMJPMorgan Chase & Co.	0.26%	303,279	$19M	added0%	−0.01 pp	7 q
KMBKimberly-Clark Corp.	0.26%	160,625	$19M	added0%	+0.01 pp	7 q
XELXcel Energy, Inc.	0.26%	523,637	$19M	trimmed−11%	0.00 pp	7 q
ABBVAbbvie Inc.	0.24%	267,837	$18M	added+2%	+0.02 pp	7 q
BMYBristol-Myers Squibb Co.	0.24%	295,035	$17M	added0%	+0.02 pp	7 q
ABTAbbott Laboratories	0.22%	356,819	$16M	trimmed−1%	0.00 pp	7 q
INTCIntel Corp	0.22%	428,436	$16M	trimmed−10%	−0.02 pp	7 q
AEBAAllete Inc	0.20%	265,761	$15M	trimmed−3%	+0.02 pp	7 q
BPBP p.l.c.	0.19%	365,576	$14M	trimmed−9%	−0.06 pp	7 q
VZVerizon Communications	0.14%	210,830	$10M	trimmed−1%	−0.02 pp	7 q
AXPAmerican Express Company	0.12%	92,550	$9M	added+1%	0.00 pp	7 q
MSFTMicrosoft Corp	0.11%	164,303	$8M	trimmed−4%	−0.01 pp	7 q
SNASnap-on Incorporated	0.11%	58,721	$8M	trimmed−4%	0.00 pp	7 q
HSYThe Hershey Company	0.10%	65,921	$7M	held	—	7 q
SPYState Street SPDR S&P 500 ETF Trust	0.09%	29,851	$6M	added+13%	+0.01 pp	7 q
MRKMerck & Co., Inc.	0.08%	107,684	$6M	added+1%	−0.01 pp	7 q
ADCAgree Realty Corporation	0.07%	155,400	$5M	added+6%	+0.01 pp	7 q
APOGApogee Enterprises Inc	0.07%	117,200	$5M	trimmed−7%	0.00 pp	7 q
THRMGentherm Inc	0.07%	137,485	$5M	added+56%	+0.02 pp	5 q
HWKNHawkins Inc	0.07%	108,500	$5M	added+9%	+0.02 pp	7 q
unresolvedPrivatebancorp Inc	0.07%	148,650	$5M	added+6%	+0.01 pp	7 q
UFCSUnited Fire Group Inc.	0.07%	173,664	$5M	added+31%	+0.02 pp	4 q
WTFCWintrust Financial Corp	0.07%	103,600	$5M	added+14%	+0.01 pp	7 q
OSKOshkosh Corp.	0.06%	85,800	$4M	added+14%	+0.01 pp	7 q
unresolvedVascular Solutions	0.06%	156,073	$4M	trimmed−3%	0.00 pp	7 q
unresolvedBuffalo Wild Wings Inc	0.05%	21,527	$4M	added+13%	+0.01 pp	7 q
CSIICardiovascular Systems, Inc.	0.05%	118,422	$4M	added+6%	+0.01 pp	2 q
CASYCasey's General Stores Inc	0.05%	39,000	$4M	held	—	7 q
PRLBProto Labs, Inc.	0.05%	50,124	$3M	added+27%	+0.01 pp	7 q
unresolvedVasco Data Sec Intl Inc	0.05%	122,916	$3M	trimmed−12%	+0.01 pp	7 q
HUBGHUB Group Inc	0.04%	71,500	$3M	added+9%	0.00 pp	7 q
unresolvedManitowoc Inc	0.04%	129,900	$3M	added+22%	0.00 pp	6 q
unresolvedMOCON Inc.	0.04%	160,074	$3M	added+2%	+0.01 pp	7 q
MURMurphy Oil Corp.	0.04%	53,700	$3M	added+1%	0.00 pp	7 q
SPSCSPS Commerce, Inc.	0.04%	51,900	$3M	added+53%	+0.01 pp	7 q
SCHWThe Charles Schwab Corporation	0.04%	84,818	$3M	added+2%	0.00 pp	7 q
unresolvedAdvent Software Inc	0.03%	79,700	$2M	added+22%	0.00 pp	7 q
AAPLApple Inc.	0.03%	17,394	$2M	added+1%	0.00 pp	7 q
unresolvedBank Mutual Corp	0.03%	288,613	$2M	held	—	7 q
BRK.BBERKSHIRE HATHAWAY Class B	0.03%	14,553	$2M	trimmed−8%	0.00 pp	7 q
unresolvedCardinal Financial Corp	0.03%	113,616	$2M	new	+0.03 pp	new
PSXPhillips 66	0.03%	28,022	$2M	trimmed−3%	0.00 pp	7 q
SCHBSchwab U.S. Broad Market ETF	0.03%	49,730	$2M	trimmed−1%	0.00 pp	7 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	0.03%	21,403	$2M	added+1%	0.00 pp	7 q
SSYSStratasys Inc (ISRAEL)	0.03%	27,563	$2M	trimmed−9%	−0.02 pp	7 q
TAT&T Inc.	0.02%	38,758	$1M	trimmed−5%	0.00 pp	7 q
AMGNAmgen Inc	0.02%	10,941	$2M	held	—	7 q
BACBank of America Corporation	0.02%	72,811	$1M	trimmed−1%	0.00 pp	7 q
unresolvedCabelas Inc. Cl A	0.02%	32,100	$2M	held	—	7 q
DAKTDaktronics Inc	0.02%	89,500	$1M	trimmed−2%	0.00 pp	7 q
GPCGenuine Parts Company	0.02%	13,550	$1M	trimmed−4%	0.00 pp	7 q
IVViShares Core S&P 500 ETF	0.02%	5,672	$1M	added+24%	+0.01 pp	7 q
LNCLincoln National Corp.	0.02%	20,000	$1M	held	—	7 q
MCDMcDonald's Corporation	0.02%	18,703	$2M	trimmed−13%	−0.01 pp	7 q
NOGNorthern Oil and Gas, Inc.	0.02%	257,400	$1M	added+51%	−0.02 pp	6 q
ORCLOracle Corp	0.02%	30,138	$1M	trimmed−28%	0.00 pp	7 q
PEPPepsiCo, Inc.	0.02%	12,251	$1M	trimmed−5%	0.00 pp	7 q
42OPhysicians Realty Trust	0.02%	102,100	$2M	new	+0.02 pp	new
RYRoyal Bank of Canada	0.02%	18,423	$1M	held	—	7 q
RDS.ARoyal Dutch Shell PLC	0.02%	21,420	$1M	trimmed−3%	0.00 pp	7 q
SCHFSchwab International Equity ETF	0.02%	43,427	$1M	trimmed−3%	0.00 pp	7 q
UTXZRTX Corporation	0.02%	11,272	$1M	added+9%	0.00 pp	7 q
unresolvedIngersoll-Rand Plc	0.02%	24,900	$2M	trimmed−1%	0.00 pp	7 q
MOAltria Group, Inc.	0.01%	10,611	$523,000	added+43%	+0.01 pp	7 q
ADPAutomatic Data Processing	0.01%	4,952	$413,000	trimmed−5%	0.00 pp	7 q
BMOBank of Montreal	0.01%	6,836	$484,000	added+3%	0.00 pp	7 q
BDXBecton, Dickinson and Co.	0.01%	5,053	$703,000	held	—	7 q
BRK.ABerkshire Hathaway Inc.	0.01%	3	$678,000	held	—	6 q
BIIBBiogen Inc.	0.01%	1,140	$387,000	trimmed−3%	0.00 pp	7 q
BABoeing Company	0.01%	3,275	$426,000	added+2%	0.00 pp	7 q
unresolvedCigna Corporation	0.01%	4,500	$463,000	held	—	7 q
GTLSChart Inds Inc	0.01%	22,200	$759,000	trimmed−41%	−0.02 pp	7 q
CSCOCisco Systems, Inc. (DE)	0.01%	28,222	$785,000	added+4%	0.00 pp	7 q
KOCoca-Cola Company	0.01%	24,632	$1M	added+4%	0.00 pp	7 q
CLColgate-Palmolive Company	0.01%	8,973	$621,000	trimmed−7%	0.00 pp	7 q
COSTCostco Wholesale Corp	0.01%	2,641	$374,000	added+21%	+0.01 pp	7 q
DDominion Energy, Inc	0.01%	5,971	$459,000	trimmed−12%	0.00 pp	7 q
unresolvedDu Pont E I De Nemours & Co	0.01%	8,507	$629,000	trimmed−4%	0.00 pp	2 q
FDXFedEx Corporation	0.01%	3,380	$587,000	held	—	7 q
FTAFirst Trust Large Cap Value AlphaDEX Fund (based on the Defined Large Cap Value Index--symbol DEFILVOI)	0.01%	14,690	$642,000	trimmed−42%	−0.01 pp	5 q
unresolvedHalyard Health Inc	0.01%	19,154	$871,000	new	+0.01 pp	new
IFFInternational Flavors & Fragrances Inc.	0.01%	4,000	$405,000	held	—	7 q
EFAiShares MSCI EAFE ETF	0.01%	7,512	$457,000	added+13%	0.00 pp	7 q
IJHiShares Core S&P Mid-Cap ETF	0.01%	2,555	$370,000	new	+0.01 pp	new
LOWLowe's Companies Inc.	0.01%	6,576	$452,000	held	—	7 q
NVSNovartis AG	0.01%	4,280	$397,000	trimmed−1%	0.00 pp	7 q
NMSNuveen Minnesota Quality Municipal Income Fund	0.01%	37,002	$531,000	new	+0.01 pp	new
OASOasis Petroleum Inc	0.01%	41,600	$688,000	added+11%	−0.01 pp	7 q
PMPhilip Morris International Inc.	0.01%	7,852	$640,000	held	—	7 q
MINTPIMCO Enhanced Short Maturity Active Exchange-Traded Fund	0.01%	7,167	$724,000	trimmed−2%	0.00 pp	7 q
PIIPolaris Inc.	0.01%	4,542	$687,000	held	—	7 q
unresolvedSigma Aldrich Corp	0.01%	6,214	$853,000	trimmed−5%	0.00 pp	7 q
RGRSturm, Ruger & Company, Inc.	0.01%	16,600	$575,000	held	—	7 q
SU6Surmodics Inc	0.01%	40,790	$901,000	trimmed−94%	−0.18 pp	7 q
TNCTennant Company	0.01%	7,900	$570,000	held	—	7 q
VWOVanguard FTSE Emerging Markets ETF	0.01%	10,584	$424,000	trimmed−5%	0.00 pp	4 q
VBVanguard Morningstar Small-Cap ETF	0.01%	5,170	$603,000	trimmed−4%	0.00 pp	6 q
VVISA Inc.	0.01%	2,030	$532,000	held	—	7 q
WDRWaddell & Reed Financial, Inc.	0.01%	17,900	$892,000	trimmed−0%	0.00 pp	7 q
WMTWalmart Inc.	0.01%	11,508	$988,000	trimmed−4%	0.00 pp	7 q
WBAWalgreens Boots Alliance, Inc	0.01%	12,495	$952,000	new	+0.01 pp	new
unresolvedAirgas Inc	0.00%	2,000	$230,000	held	—	5 q
LNTAlliant Energy Corporation	0.00%	4,497	$299,000	held	—	5 q
ALNYAlnylam Pharmaceuticals, Inc.	0.00%	2,200	$213,000	new	0.00 pp	new
AMZNAmazon.Com Inc	0.00%	928	$288,000	trimmed−7%	0.00 pp	5 q
AMPAmeriprise Financial, Inc.	0.00%	2,391	$316,000	held	—	6 q
APCAnadarko Petroleum Corp	0.00%	3,105	$256,000	trimmed−1%	0.00 pp	7 q
ALVAutoliv, Inc.	0.00%	2,664	$283,000	new	0.00 pp	new
CVSCvs Health Corporation	0.00%	3,731	$359,000	trimmed−12%	0.00 pp	5 q
KMXCarMax Inc.	0.00%	3,875	$258,000	new	0.00 pp	new
CATCaterpillar Inc.	0.00%	3,499	$320,000	added+14%	0.00 pp	7 q
CNPCenterPoint Energy, Inc.	0.00%	9,390	$220,000	held	—	7 q
CMCSAComcast Corp	0.00%	3,973	$230,000	added+5%	0.00 pp	7 q
DHRDanaher Corporation	0.00%	3,760	$322,000	trimmed−21%	−0.01 pp	5 q
DUKDuke Energy Corporation	0.00%	2,906	$243,000	held	—	4 q
EXCExelon Corporation	0.00%	8,379	$311,000	added+10%	0.00 pp	7 q
unresolvedGoogle Inc.	0.00%	528	$280,000	trimmed−15%	−0.01 pp	7 q
GOOGAlphabet Inc. Class C	0.00%	515	$271,000	trimmed−18%	−0.01 pp	3 q
HOGHarley-Davidson, Inc.	0.00%	3,170	$209,000	new	0.00 pp	new
IEXIDEX Corporation	0.00%	4,072	$317,000	trimmed−1%	0.00 pp	7 q
IDXXIdexx Laboratories Inc	0.00%	2,199	$326,000	trimmed−31%	−0.01 pp	5 q
unresolvedIntegrys Energy Group	0.00%	3,880	$302,000	trimmed−11%	0.00 pp	7 q
IWRiShares Russell Mid-Cap ETF	0.00%	1,516	$253,000	held	—	6 q
IJTiShares S&P Small-Cap 600 Growth ETF	0.00%	1,655	$203,000	new	0.00 pp	new
KELKellanova	0.00%	3,850	$252,000	trimmed−13%	0.00 pp	7 q
NEENextEra Energy, Inc.	0.00%	3,308	$352,000	held	—	7 q
NKENike, Inc.	0.00%	2,700	$260,000	trimmed−1%	0.00 pp	2 q
NSCNorfolk Southern Corp.	0.00%	3,287	$360,000	added+25%	0.00 pp	7 q
unresolvedPershing Gold Corp	0.00%	80,000	$23,000	added+7%	0.00 pp	6 q
POMPolymet Mining Corp	0.00%	10,000	$11,000	held	—	7 q
PCYOPure Cycle Corporation	0.00%	11,855	$47,000	held	—	7 q
unresolvedSonus Networks	0.00%	15,000	$60,000	new	0.00 pp	new
SBUXStarbucks Corp	0.00%	2,785	$229,000	trimmed−3%	0.00 pp	5 q
SYYSysco Corporation	0.00%	6,934	$275,000	held	—	6 q
TXNTexas Instruments Incorporated	0.00%	4,653	$249,000	held	—	2 q
TMOThermo Fisher Scientific, Inc.	0.00%	2,446	$306,000	added+3%	0.00 pp	4 q
UNPUnion Pacific Corp.	0.00%	2,345	$279,000	added+5%	0.00 pp	4 q
WABCWestamerica Bancorporation	0.00%	5,359	$263,000	held	—	7 q
WYWeyerhaeuser Company	0.00%	6,870	$247,000	trimmed−2%	0.00 pp	5 q
unresolvedMedtronic Inc	—	−3,768,038	—	exited	−3.41 pp	—
unresolvedKodiak Oil & Gas Corp	—	−111,200	—	exited	−0.02 pp	—
BOHBank of Hawaii Corp.	—	−10,000	—	exited	−0.01 pp	—
unresolvedMinnesota Muni Income Portfoli	—	−31,200	—	exited	−0.01 pp	—
unresolvedWalgreen Co	—	−12,595	—	exited	−0.01 pp	—
9990302DApache Corp	—	−2,996	—	exited	0.00 pp	—
IAUiShares Gold Trust	—	−16,346	—	exited	0.00 pp	—
EEMiShares MSCI Emerging Markets ETF	—	−5,041	—	exited	0.00 pp	—
unresolvedPetro Riv Oil Corp	—	−15,000	—	exited	0.00 pp	—
unresolvedPowershares Fin Pfd ETF	—	−10,581	—	exited	0.00 pp	—
SPGSimon Property Group, Inc.	—	−1,249	—	exited	0.00 pp	—
unresolvedSonus Networks	—	−15,000	—	exited	0.00 pp	—
SRCLStericycle Inc	—	−2,005	—	exited	0.00 pp	—

Source

Form: 13F-HR
Reading: 4 defects · 26 unresolved
Accession: 0001104659-15-010813
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 715302105 not on the Official 13(f) List for 2014-12-31
A security outside the official 13F list — CUSIP 771195104 not on the Official 13(f) List for 2014-12-31
A security outside the official 13F list — CUSIP 835916503 not on the Official 13(f) List for 2014-12-31
A security outside the official 13F list — CUSIP G5960L103 not on the Official 13(f) List for 2014-12-31

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