Mairs & Power

Q1 2015 13F

As of: Mar 31, 2015
Filed: May 15, 2015
US stock: $7.3B · prev $7.2B
Positions: 187 · prev 193
Options notional: $0
Documents: 1· no amendments

Picture98.7% US stock

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

US stock listed on a US exchange 98.7%
Foreign stock not listed in the US 1.3%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves155 since the prior filing

+1.2 pp in · −1.2 pp out

New 4 +0.05 pp
Added 63 +1.12 pp
Trimmed 78 −1.13 pp
Exited 10 −0.06 pp

The book

Diversified · behaves like 44 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 9.1% a year, about 11.0 years per position

Low
Moderate
High

Top 5 positions19% of US stock

MMM 3M Company trimmed−0.12 pp trimmed−0.124.2%
ECL Ecolab, Inc. added+0.37 pp added+0.373.9%
USB U.S. Bancorp added0.00 pp added0.003.7%
MDT Medtronic plc trimmed+0.09 pp trimmed+0.093.5%
HON Honeywell International, Inc. added+0.12 pp added+0.123.4%

Positions187 in this filing · 10 exited


MMM3M Company	4.19%	1,846,266	$305M	trimmed−2%	−0.12 pp	8 q
ECLEcolab, Inc.	3.90%	2,480,823	$284M	added+2%	+0.37 pp	8 q
USBU.S. Bancorp	3.72%	6,195,262	$271M	added+4%	0.00 pp	8 q
MDTMedtronic plc	3.49%	3,254,448	$254M	trimmed−4%	+0.09 pp	2 q
HONHoneywell International, Inc.	3.41%	2,377,667	$248M	added0%	+0.12 pp	8 q
unresolvedValspar Corp	3.36%	2,903,115	$244M	trimmed−2%	−0.20 pp	8 q
TGTTarget Corporation	3.29%	2,912,861	$239M	trimmed−12%	−0.19 pp	8 q
unresolvedBemis Inc	2.99%	4,700,187	$218M	added0%	+0.04 pp	8 q
JNJJohnson & Johnson	2.93%	2,118,878	$213M	added+10%	+0.13 pp	8 q
EMREmerson Electric Co.	2.80%	3,592,409	$203M	added0%	−0.26 pp	8 q
TTCToro Company (The)	2.71%	2,808,929	$197M	trimmed−3%	+0.16 pp	8 q
DCIDonaldson Company, Inc.	2.69%	5,191,158	$196M	added+2%	−0.03 pp	8 q
GGGGraco Inc	2.68%	2,702,215	$195M	added+13%	+0.03 pp	8 q
SLBSLB Limited	2.68%	2,330,967	$194M	added+2%	−0.03 pp	8 q
GISGeneral Mills, Inc.	2.56%	3,283,040	$186M	added+3%	+0.19 pp	8 q
HRLHormel Foods Corporation	2.48%	3,171,082	$180M	added0%	+0.19 pp	8 q
PNRPentair plc	2.32%	2,677,555	$168M	added+1%	−0.12 pp	4 q
BAXBaxter International Inc.	2.20%	2,335,756	$160M	added0%	−0.17 pp	8 q
WFCWells Fargo & Co.	2.10%	2,803,422	$153M	trimmed−0%	−0.04 pp	8 q
PFGPrincipal Financial Group, Inc.	2.07%	2,923,129	$150M	added+2%	+0.01 pp	8 q
CHRWC.H. Robinson Worldwide, Inc.	2.04%	2,030,188	$149M	added0%	−0.07 pp	8 q
unresolvedSt Jude Med Inc	2.01%	2,233,959	$146M	added0%	0.00 pp	8 q
FULH.B. Fuller Company	2.00%	3,399,078	$146M	added0%	−0.09 pp	8 q
TECHBio-Techne Corp.	1.90%	1,379,687	$138M	added+7%	+0.24 pp	3 q
unresolvedGeneral Electric Co	1.82%	5,342,083	$133M	added0%	−0.05 pp	8 q
UPSUnited Parcel Service, Inc. Class B	1.75%	1,310,759	$127M	added+1%	−0.26 pp	8 q
MTSCMTS Systems Corp	1.72%	1,654,892	$125M	trimmed−0%	−0.01 pp	8 q
FISVFiserv, Inc.	1.70%	1,554,181	$123M	trimmed−8%	+0.04 pp	8 q
WUThe Western Union Company	1.69%	5,891,271	$123M	added0%	+0.23 pp	8 q
DISThe Walt Disney Company	1.36%	943,494	$99M	trimmed−0%	+0.12 pp	8 q
RHHBYRoche Holding Ltd S/	1.28%	2,703,876	$93M	added+4%	+0.05 pp	7 q
FASTFastenal Co	1.24%	2,168,205	$90M	added+2%	−0.17 pp	8 q
QCOMQualcomm Inc	1.23%	1,291,397	$90M	added+10%	+0.02 pp	8 q
PFEPfizer Inc.	1.13%	2,363,506	$82M	trimmed−11%	−0.02 pp	8 q
BMIBadger Meter, Inc.	1.06%	1,286,452	$77M	added+2%	+0.02 pp	8 q
PDCOPatterson Companies, Inc.	0.97%	1,448,804	$71M	trimmed−10%	−0.10 pp	8 q
TRVThe Travelers Companies, Inc.	0.95%	635,478	$69M	trimmed−0%	+0.01 pp	8 q
GLWCorning Incorporated	0.94%	3,020,879	$69M	trimmed−7%	−0.10 pp	8 q
CRAYCray, Inc.	0.92%	2,372,610	$67M	added+2%	−0.19 pp	8 q
XOMExxon Mobil Corp	0.87%	744,433	$63M	added+5%	−0.04 pp	8 q
ZBHZimmer Biomet Holdings, Inc.	0.86%	530,955	$62M	trimmed−5%	−0.02 pp	8 q
ASBAssociated Banc-Corp	0.84%	3,283,233	$61M	added+1%	0.00 pp	8 q
DLXDeluxe Corporation	0.77%	809,380	$56M	added+1%	+0.08 pp	8 q
SSYSStratasys Inc (ISRAEL)	0.75%	1,029,298	$54M	added×37.3	+0.72 pp	8 q
MDUMDU Resources Group, Inc.	0.73%	2,495,795	$53M	added+9%	−0.02 pp	8 q
NVECNVE Corp	0.63%	661,760	$46M	trimmed−0%	−0.02 pp	8 q
GNRCGenerac Holdings Inc	0.53%	789,570	$38M	added0%	+0.02 pp	5 q
IBMInternational Business Machines Corporation	0.48%	216,031	$35M	added+2%	+0.01 pp	8 q
unresolvedG & K Services Cl A	0.46%	464,578	$34M	trimmed−26%	−0.16 pp	8 q
CVXChevron Corporation	0.43%	300,961	$32M	added+57%	+0.13 pp	8 q
COPConocoPhillips	0.41%	476,951	$30M	added+2%	−0.04 pp	8 q
HDHome Depot, Inc.	0.35%	224,887	$26M	trimmed−5%	+0.01 pp	8 q
PGProcter & Gamble Company	0.32%	284,681	$23M	added+1%	−0.04 pp	8 q
LLYEli Lilly & Co.	0.29%	286,619	$21M	trimmed−0%	+0.01 pp	8 q
BMYBristol-Myers Squibb Co.	0.26%	293,770	$19M	trimmed−0%	+0.02 pp	8 q
JPMJPMorgan Chase & Co.	0.25%	304,304	$18M	added0%	−0.01 pp	8 q
KMBKimberly-Clark Corp.	0.25%	168,276	$18M	added+5%	−0.01 pp	8 q
XELXcel Energy, Inc.	0.25%	517,726	$18M	trimmed−1%	−0.01 pp	8 q
ABTAbbott Laboratories	0.23%	353,724	$16M	trimmed−1%	+0.01 pp	8 q
ABBVAbbvie Inc.	0.22%	272,026	$16M	added+2%	−0.02 pp	8 q
AEBAAllete Inc	0.21%	291,417	$15M	added+10%	+0.01 pp	8 q
INTCIntel Corp	0.18%	423,420	$13M	trimmed−1%	−0.04 pp	8 q
VZVerizon Communications	0.14%	208,173	$10M	trimmed−1%	0.00 pp	8 q
BPBP p.l.c.	0.12%	232,148	$9M	trimmed−37%	−0.07 pp	8 q
AXPAmerican Express Company	0.11%	101,390	$8M	added+10%	−0.01 pp	8 q
SNASnap-on Incorporated	0.10%	48,041	$7M	trimmed−18%	−0.01 pp	8 q
HSYThe Hershey Company	0.09%	67,400	$7M	added+2%	−0.01 pp	8 q
MSFTMicrosoft Corp	0.09%	166,017	$7M	added+1%	−0.02 pp	8 q
UFCSUnited Fire Group Inc.	0.09%	205,963	$7M	added+19%	+0.02 pp	5 q
ADCAgree Realty Corporation	0.08%	179,400	$6M	added+15%	+0.01 pp	8 q
APOGApogee Enterprises Inc	0.08%	127,900	$6M	added+9%	+0.01 pp	8 q
THRMGentherm Inc	0.08%	110,685	$6M	trimmed−19%	+0.01 pp	6 q
HWKNHawkins Inc	0.08%	158,283	$6M	added+46%	+0.01 pp	8 q
MRKMerck & Co., Inc.	0.08%	105,158	$6M	trimmed−2%	0.00 pp	8 q
unresolvedPrivatebancorp Inc	0.08%	164,950	$6M	added+11%	+0.01 pp	8 q
unresolvedTcf Financial Corp	0.08%	371,155	$6M	trimmed−85%	−0.45 pp	8 q
WTFCWintrust Financial Corp	0.08%	121,200	$6M	added+17%	+0.01 pp	8 q
OSKOshkosh Corp.	0.07%	97,600	$5M	added+14%	+0.01 pp	8 q
unresolvedCardinal Financial Corp	0.06%	230,316	$5M	added×2.0	+0.03 pp	2 q
CSIICardiovascular Systems, Inc.	0.06%	118,422	$5M	held	—	3 q
CASYCasey's General Stores Inc	0.06%	48,500	$4M	added+24%	+0.01 pp	8 q
42OPhysicians Realty Trust	0.06%	241,800	$4M	added×2.4	+0.04 pp	2 q
SPYState Street SPDR S&P 500 ETF Trust	0.06%	19,646	$4M	trimmed−34%	−0.03 pp	8 q
ATUEnerpac Tool Group Corp.	0.05%	158,100	$4M	new	+0.05 pp	new
PRLBProto Labs, Inc.	0.05%	52,804	$4M	added+5%	0.00 pp	8 q
SPSCSPS Commerce, Inc.	0.05%	57,200	$4M	added+10%	+0.01 pp	8 q
unresolvedVasco Data Sec Intl Inc	0.05%	159,316	$3M	added+30%	0.00 pp	8 q
unresolvedVascular Solutions	0.05%	114,373	$3M	trimmed−27%	−0.01 pp	8 q
unresolvedBuffalo Wild Wings Inc	0.04%	18,027	$3M	trimmed−16%	−0.01 pp	8 q
HUBGHUB Group Inc	0.04%	82,900	$3M	added+16%	0.00 pp	8 q
unresolvedManitowoc Inc	0.04%	129,900	$3M	held	—	7 q
unresolvedMOCON Inc.	0.04%	171,875	$3M	added+7%	0.00 pp	8 q
SCHWThe Charles Schwab Corporation	0.04%	86,078	$3M	added+1%	0.00 pp	8 q
AAPLApple Inc.	0.03%	17,094	$2M	trimmed−2%	0.00 pp	8 q
unresolvedBank Mutual Corp	0.03%	288,613	$2M	held	—	8 q
BRK.BBERKSHIRE HATHAWAY Class B	0.03%	14,453	$2M	trimmed−1%	0.00 pp	8 q
MURMurphy Oil Corp.	0.03%	53,900	$3M	added0%	−0.01 pp	8 q
NOGNorthern Oil and Gas, Inc.	0.03%	237,400	$2M	trimmed−8%	+0.01 pp	7 q
PSXPhillips 66	0.03%	27,497	$2M	trimmed−2%	0.00 pp	8 q
SCHBSchwab U.S. Broad Market ETF	0.03%	49,730	$3M	held	—	8 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	0.03%	21,381	$3M	trimmed−0%	0.00 pp	8 q
WDRWaddell & Reed Financial, Inc.	0.03%	38,800	$2M	added×2.2	+0.02 pp	8 q
TAT&T Inc.	0.02%	37,908	$1M	trimmed−2%	0.00 pp	8 q
AMGNAmgen Inc	0.02%	10,941	$2M	held	—	8 q
BACBank of America Corporation	0.02%	72,811	$1M	held	—	8 q
unresolvedCabelas Inc. Cl A	0.02%	32,100	$2M	held	—	8 q
GPCGenuine Parts Company	0.02%	13,550	$1M	held	—	8 q
IVViShares Core S&P 500 ETF	0.02%	5,671	$1M	trimmed−0%	0.00 pp	8 q
LNCLincoln National Corp.	0.02%	20,000	$1M	held	—	8 q
MCDMcDonald's Corporation	0.02%	17,203	$2M	trimmed−8%	0.00 pp	8 q
ORCLOracle Corp	0.02%	28,383	$1M	trimmed−6%	0.00 pp	8 q
PEPPepsiCo, Inc.	0.02%	11,633	$1M	trimmed−5%	0.00 pp	8 q
RDS.ARoyal Dutch Shell PLC	0.02%	21,170	$1M	trimmed−1%	0.00 pp	8 q
SCHFSchwab International Equity ETF	0.02%	43,000	$1M	trimmed−1%	0.00 pp	8 q
UTXZRTX Corporation	0.02%	10,903	$1M	trimmed−3%	0.00 pp	8 q
unresolvedIngersoll-Rand Plc	0.02%	24,900	$2M	held	—	8 q
MOAltria Group, Inc.	0.01%	8,910	$446,000	trimmed−16%	0.00 pp	8 q
ADPAutomatic Data Processing	0.01%	4,952	$424,000	held	—	8 q
BMOBank of Montreal	0.01%	6,209	$372,000	trimmed−9%	0.00 pp	8 q
BDXBecton, Dickinson and Co.	0.01%	5,005	$719,000	trimmed−1%	0.00 pp	8 q
BRK.ABerkshire Hathaway Inc.	0.01%	3	$653,000	held	—	7 q
BIIBBiogen Inc.	0.01%	1,120	$473,000	trimmed−2%	0.00 pp	8 q
BABoeing Company	0.01%	2,980	$447,000	trimmed−9%	0.00 pp	8 q
unresolvedCigna Corporation	0.01%	4,500	$582,000	held	—	8 q
CSCOCisco Systems, Inc. (DE)	0.01%	23,131	$637,000	trimmed−18%	0.00 pp	8 q
KOCoca-Cola Company	0.01%	24,074	$976,000	trimmed−2%	0.00 pp	8 q
CLColgate-Palmolive Company	0.01%	8,973	$622,000	held	—	8 q
COSTCostco Wholesale Corp	0.01%	2,641	$400,000	held	—	8 q
DAKTDaktronics Inc	0.01%	89,700	$970,000	added0%	−0.01 pp	8 q
DDominion Energy, Inc	0.01%	5,971	$423,000	held	—	8 q
unresolvedDu Pont E I De Nemours & Co	0.01%	7,582	$542,000	trimmed−11%	0.00 pp	3 q
FDXFedEx Corporation	0.01%	3,380	$559,000	held	—	8 q
FTAFirst Trust Large Cap Value AlphaDEX Fund (based on the Defined Large Cap Value Index--symbol DEFILVOI)	0.01%	14,690	$643,000	held	—	6 q
unresolvedHalyard Health Inc	0.01%	14,807	$729,000	trimmed−23%	0.00 pp	2 q
IFFInternational Flavors & Fragrances Inc.	0.01%	4,000	$470,000	held	—	8 q
EFAiShares MSCI EAFE ETF	0.01%	7,412	$476,000	trimmed−1%	0.00 pp	8 q
IJHiShares Core S&P Mid-Cap ETF	0.01%	2,555	$388,000	held	—	2 q
LOWLowe's Companies Inc.	0.01%	6,076	$452,000	trimmed−8%	0.00 pp	8 q
NVSNovartis AG	0.01%	4,080	$402,000	trimmed−5%	0.00 pp	8 q
NMSNuveen Minnesota Quality Municipal Income Fund	0.01%	37,002	$569,000	held	—	2 q
PMPhilip Morris International Inc.	0.01%	7,502	$565,000	trimmed−4%	0.00 pp	8 q
MINTPIMCO Enhanced Short Maturity Active Exchange-Traded Fund	0.01%	7,117	$720,000	trimmed−1%	0.00 pp	8 q
PIIPolaris Inc.	0.01%	4,104	$579,000	trimmed−10%	0.00 pp	8 q
RYRoyal Bank of Canada	0.01%	17,790	$1M	trimmed−3%	−0.01 pp	8 q
unresolvedSigma Aldrich Corp	0.01%	5,613	$776,000	trimmed−10%	0.00 pp	8 q
SU6Surmodics Inc	0.01%	39,440	$1M	trimmed−3%	0.00 pp	8 q
TNCTennant Company	0.01%	7,900	$516,000	held	—	8 q
VWOVanguard FTSE Emerging Markets ETF	0.01%	9,534	$390,000	trimmed−10%	0.00 pp	5 q
VBVanguard Morningstar Small-Cap ETF	0.01%	5,170	$634,000	held	—	7 q
VVISA Inc.	0.01%	8,052	$527,000	trimmed−1%	0.00 pp	8 q
WMTWalmart Inc.	0.01%	10,557	$868,000	trimmed−8%	0.00 pp	8 q
WBAWalgreens Boots Alliance, Inc	0.01%	12,495	$1M	held	—	2 q
LNTAlliant Energy Corporation	0.00%	4,364	$275,000	trimmed−3%	0.00 pp	6 q
ALNYAlnylam Pharmaceuticals, Inc.	0.00%	2,200	$230,000	held	—	2 q
AMZNAmazon.Com Inc	0.00%	728	$271,000	trimmed−22%	0.00 pp	6 q
AMPAmeriprise Financial, Inc.	0.00%	2,391	$313,000	held	—	7 q
APCAnadarko Petroleum Corp	0.00%	3,105	$257,000	held	—	8 q
ALVAutoliv, Inc.	0.00%	2,664	$314,000	held	—	2 q
KMXCarMax Inc.	0.00%	3,000	$207,000	trimmed−23%	0.00 pp	2 q
CATCaterpillar Inc.	0.00%	4,338	$347,000	added+24%	0.00 pp	8 q
CELGCelgene Corp	0.00%	1,776	$205,000	new	0.00 pp	new
CMCSAComcast Corp	0.00%	3,750	$212,000	trimmed−6%	0.00 pp	8 q
DHRDanaher Corporation	0.00%	2,560	$217,000	trimmed−32%	0.00 pp	6 q
DUKDuke Energy Corporation	0.00%	2,656	$204,000	trimmed−9%	0.00 pp	5 q
EXCExelon Corporation	0.00%	8,379	$282,000	held	—	8 q
unresolvedGoogle Inc.	0.00%	482	$267,000	trimmed−9%	0.00 pp	8 q
GOOGAlphabet Inc. Class C	0.00%	482	$264,000	trimmed−6%	0.00 pp	4 q
IEXIDEX Corporation	0.00%	4,072	$309,000	held	—	8 q
IDXXIdexx Laboratories Inc	0.00%	2,199	$340,000	held	—	6 q
unresolvedIntegrys Energy Group	0.00%	3,880	$279,000	held	—	8 q
IJTiShares S&P Small-Cap 600 Growth ETF	0.00%	1,655	$215,000	held	—	2 q
KELKellanova	0.00%	3,850	$254,000	held	—	8 q
NEENextEra Energy, Inc.	0.00%	3,308	$344,000	held	—	8 q
NKENike, Inc.	0.00%	2,700	$271,000	held	—	3 q
NSCNorfolk Southern Corp.	0.00%	3,237	$333,000	trimmed−2%	0.00 pp	8 q
unresolvedPershing Gold Corp	0.00%	80,000	$29,000	held	—	7 q
POMPolymet Mining Corp	0.00%	10,000	$13,000	held	—	8 q
PCYOPure Cycle Corporation	0.00%	11,855	$60,000	held	—	8 q
SBUXStarbucks Corp	0.00%	2,270	$215,000	trimmed−18%	0.00 pp	6 q
SYYSysco Corporation	0.00%	6,934	$262,000	held	—	7 q
TXNTexas Instruments Incorporated	0.00%	4,500	$257,000	trimmed−3%	0.00 pp	3 q
TMOThermo Fisher Scientific, Inc.	0.00%	2,381	$320,000	trimmed−3%	0.00 pp	5 q
UNPUnion Pacific Corp.	0.00%	2,333	$253,000	trimmed−1%	0.00 pp	5 q
VEAVanguard FTSE Developed Markets ETF	0.00%	5,143	$205,000	new	0.00 pp	new
WABCWestamerica Bancorporation	0.00%	5,359	$232,000	held	—	8 q
WYWeyerhaeuser Company	0.00%	6,870	$228,000	held	—	6 q
RIGTransocean LTD.	0.00%	10,000	$147,000	new	0.00 pp	new
unresolvedAdvent Software Inc	—	−79,700	—	exited	−0.03 pp	—
GTLSChart Inds Inc	—	−22,200	—	exited	−0.01 pp	—
OASOasis Petroleum Inc	—	−41,600	—	exited	−0.01 pp	—
RGRSturm, Ruger & Company, Inc.	—	−16,600	—	exited	−0.01 pp	—
unresolvedAirgas Inc	—	−2,000	—	exited	0.00 pp	—
CVSCvs Health Corporation	—	−3,731	—	exited	0.00 pp	—
CNPCenterPoint Energy, Inc.	—	−9,390	—	exited	0.00 pp	—
HOGHarley-Davidson, Inc.	—	−3,170	—	exited	0.00 pp	—
IWRiShares Russell Mid-Cap ETF	—	−1,516	—	exited	0.00 pp	—
unresolvedSonus Networks	—	−15,000	—	exited	0.00 pp	—

Source

Form: 13F-HR
Reading: 2 defects · 23 unresolved
Accession: 0001104659-15-038430
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 2015-03-31
A security outside the official 13F list — CUSIP 771195104 not on the Official 13(f) List for 2015-03-31

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