Mairs & Power

Q3 2015 13F

As of: Sep 30, 2015
Filed: Nov 16, 2015
US stock: $6.4B · prev $7.1B
Positions: 174 · prev 181
Options notional: $0
Documents: 1· no amendments

Picture98.6% US stock

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

US stock listed on a US exchange 98.6%
Foreign stock not listed in the US 1.4%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves155 since the prior filing

+0.8 pp in · −0.8 pp out

New 5 +0.96 pp
Added 71 −0.14 pp
Trimmed 67 −0.74 pp
Exited 12 −0.07 pp

The book

Diversified · behaves like 44 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 8.6% a year, about 11.7 years per position

Low
Moderate
High

Top 5 positions19% of US stock

Positions174 in this filing · 12 exited


ECLEcolab, Inc.	4.18%	2,436,649	$267M	trimmed−2%	+0.21 pp	10 q
MMM3M Company	4.09%	1,847,699	$262M	added+1%	+0.09 pp	10 q
USBU.S. Bancorp	4.00%	6,234,104	$256M	added0%	+0.17 pp	10 q
HONHoneywell International, Inc.	3.50%	2,367,268	$224M	trimmed−1%	+0.07 pp	10 q
MDTMedtronic plc	3.32%	3,171,922	$212M	trimmed−1%	−0.05 pp	4 q
unresolvedValspar Corp	3.21%	2,854,516	$205M	trimmed−0%	−0.10 pp	10 q
JNJJohnson & Johnson	3.18%	2,181,707	$204M	added+1%	+0.20 pp	10 q
TGTTarget Corporation	3.09%	2,512,017	$198M	trimmed−6%	0.00 pp	10 q
GGGGraco Inc	3.00%	2,864,632	$192M	added+1%	+0.15 pp	10 q
unresolvedBemis Inc	2.94%	4,758,778	$188M	added0%	−0.09 pp	10 q
GISGeneral Mills, Inc.	2.91%	3,316,825	$186M	added0%	+0.30 pp	10 q
HRLHormel Foods Corporation	2.74%	2,772,732	$176M	trimmed−11%	+0.25 pp	10 q
TTCToro Company (The)	2.64%	2,398,949	$169M	trimmed−3%	+0.26 pp	10 q
EMREmerson Electric Co.	2.49%	3,600,427	$159M	added0%	−0.32 pp	10 q
SLBSLB Limited	2.41%	2,239,567	$154M	added0%	−0.32 pp	10 q
DCIDonaldson Company, Inc.	2.33%	5,304,175	$149M	added+2%	−0.31 pp	10 q
WFCWells Fargo & Co.	2.23%	2,783,519	$143M	trimmed−1%	−0.01 pp	10 q
PFGPrincipal Financial Group, Inc.	2.16%	2,915,014	$138M	trimmed−0%	+0.04 pp	10 q
PNRPentair plc	2.14%	2,682,462	$137M	added0%	−0.46 pp	6 q
CHRWC.H. Robinson Worldwide, Inc.	2.13%	2,007,389	$136M	trimmed−2%	+0.31 pp	10 q
unresolvedSt Jude Med Inc	2.00%	2,026,648	$128M	trimmed−1%	−0.11 pp	10 q
UPSUnited Parcel Service, Inc. Class B	1.95%	1,262,979	$125M	trimmed−2%	+0.18 pp	10 q
TECHBio-Techne Corp.	1.87%	1,293,524	$120M	trimmed−6%	−0.05 pp	5 q
FULH.B. Fuller Company	1.80%	3,393,307	$115M	trimmed−0%	−0.16 pp	10 q
unresolvedGeneral Electric Co	1.73%	4,376,987	$110M	trimmed−3%	+0.03 pp	10 q
FISVFiserv, Inc.	1.71%	1,265,611	$110M	trimmed−13%	+0.01 pp	10 q
PFEPfizer Inc.	1.50%	3,063,915	$96M	added+30%	+0.38 pp	10 q
MTSCMTS Systems Corp	1.46%	1,555,611	$94M	added0%	−0.06 pp	10 q
RHHBYRoche Holding Ltd S/	1.40%	2,712,985	$89M	added0%	+0.05 pp	9 q
WUThe Western Union Company	1.39%	4,849,723	$89M	added0%	0.00 pp	10 q
DISThe Walt Disney Company	1.27%	792,093	$81M	trimmed−15%	−0.24 pp	10 q
FASTFastenal Co	1.26%	2,201,512	$81M	added+1%	−0.04 pp	10 q
BAXBaxter International Inc.	1.18%	2,298,348	$76M	trimmed−2%	−1.13 pp	10 q
BMIBadger Meter, Inc.	1.16%	1,281,928	$74M	trimmed−0%	0.00 pp	10 q
QCOMQualcomm Inc	1.13%	1,349,847	$73M	added+1%	−0.05 pp	10 q
TRVThe Travelers Companies, Inc.	0.95%	612,114	$61M	trimmed−3%	+0.08 pp	10 q
unresolvedBaxalta Inc	0.94%	1,908,592	$60M	new	+0.94 pp	new
PDCOPatterson Companies, Inc.	0.94%	1,397,229	$60M	trimmed−3%	−0.06 pp	10 q
ASBAssociated Banc-Corp	0.93%	3,306,545	$59M	trimmed−0%	−0.02 pp	10 q
XOMExxon Mobil Corp	0.92%	787,566	$59M	added+4%	+0.02 pp	10 q
AXPAmerican Express Company	0.91%	781,829	$58M	added+87%	+0.45 pp	10 q
CRAYCray, Inc.	0.81%	2,621,646	$52M	added+9%	−0.20 pp	10 q
GLWCorning Incorporated	0.80%	3,006,564	$51M	trimmed−0%	−0.04 pp	10 q
ZBHZimmer Biomet Holdings, Inc.	0.78%	529,135	$50M	added+1%	−0.03 pp	10 q
DLXDeluxe Corporation	0.68%	782,092	$44M	trimmed−1%	−0.01 pp	10 q
SSYSStratasys Inc (ISRAEL)	0.64%	1,534,238	$41M	added+3%	−0.09 pp	10 q
MDUMDU Resources Group, Inc.	0.58%	2,170,306	$37M	trimmed−16%	−0.13 pp	10 q
unresolvedG & K Services Cl A	0.46%	438,208	$29M	trimmed−4%	+0.01 pp	10 q
IBMInternational Business Machines Corporation	0.46%	204,089	$30M	trimmed−6%	−0.04 pp	10 q
CVXChevron Corporation	0.42%	339,935	$27M	added+11%	0.00 pp	10 q
GNRCGenerac Holdings Inc	0.40%	847,720	$26M	added+4%	−0.06 pp	7 q
NVECNVE Corp	0.40%	528,871	$26M	added+1%	−0.18 pp	10 q
HDHome Depot, Inc.	0.39%	215,936	$25M	trimmed−1%	+0.05 pp	10 q
COPConocoPhillips	0.36%	479,009	$23M	added+1%	−0.05 pp	10 q
PGProcter & Gamble Company	0.33%	297,397	$21M	added+5%	+0.02 pp	10 q
KMBKimberly-Clark Corp.	0.29%	167,396	$18M	added0%	+0.04 pp	10 q
LLYEli Lilly & Co.	0.29%	223,581	$19M	trimmed−17%	−0.03 pp	10 q
XELXcel Energy, Inc.	0.28%	513,242	$18M	added+1%	+0.05 pp	10 q
JPMJPMorgan Chase & Co.	0.27%	284,324	$17M	trimmed−4%	−0.01 pp	10 q
BMYBristol-Myers Squibb Co.	0.26%	284,574	$17M	added+1%	−0.01 pp	10 q
ABBVAbbvie Inc.	0.23%	266,936	$15M	trimmed−1%	−0.03 pp	10 q
AEBAAllete Inc	0.23%	293,987	$15M	trimmed−3%	+0.03 pp	10 q
ABTAbbott Laboratories	0.20%	319,343	$13M	trimmed−7%	−0.04 pp	10 q
INTCIntel Corp	0.20%	420,863	$13M	trimmed−0%	+0.02 pp	10 q
VZVerizon Communications	0.13%	195,246	$8M	trimmed−1%	0.00 pp	10 q
MSFTMicrosoft Corp	0.11%	160,285	$7M	trimmed−0%	+0.01 pp	10 q
UFCSUnited Fire Group Inc.	0.11%	203,557	$7M	trimmed−2%	+0.01 pp	7 q
ADCAgree Realty Corporation	0.10%	218,160	$7M	added+7%	+0.02 pp	10 q
HWKNHawkins Inc	0.10%	162,523	$6M	added+2%	+0.01 pp	10 q
HSYThe Hershey Company	0.10%	68,400	$6M	added+1%	+0.02 pp	10 q
SNASnap-on Incorporated	0.10%	43,826	$7M	trimmed−7%	−0.01 pp	10 q
WTFCWintrust Financial Corp	0.10%	125,330	$7M	trimmed−8%	0.00 pp	10 q
BPBP p.l.c.	0.09%	196,021	$6M	trimmed−4%	−0.03 pp	10 q
unresolvedCardinal Financial Corp	0.09%	253,706	$6M	added+6%	+0.02 pp	4 q
OSKOshkosh Corp.	0.09%	157,840	$6M	added+28%	+0.02 pp	10 q
42OPhysicians Realty Trust	0.09%	401,570	$6M	added+53%	+0.03 pp	4 q
unresolvedPrivatebancorp Inc	0.09%	156,100	$6M	trimmed−6%	0.00 pp	10 q
APOGApogee Enterprises Inc	0.08%	110,300	$5M	trimmed−4%	−0.01 pp	10 q
CASYCasey's General Stores Inc	0.08%	49,420	$5M	trimmed−8%	+0.01 pp	10 q
MRKMerck & Co., Inc.	0.08%	104,124	$5M	added+1%	0.00 pp	10 q
ATUEnerpac Tool Group Corp.	0.07%	230,840	$4M	added+21%	+0.01 pp	3 q
THRMGentherm Inc	0.07%	105,395	$5M	added+11%	0.00 pp	8 q
HUBGHUB Group Inc	0.07%	130,550	$5M	added+22%	+0.01 pp	10 q
unresolvedVasco Data Sec Intl Inc	0.07%	253,906	$4M	added+64%	0.00 pp	10 q
unresolvedBuffalo Wild Wings Inc	0.06%	18,790	$4M	trimmed−20%	+0.01 pp	10 q
SPSCSPS Commerce, Inc.	0.06%	54,450	$4M	added+3%	+0.01 pp	10 q
CSIICardiovascular Systems, Inc.	0.05%	207,632	$3M	added+55%	0.00 pp	5 q
PRLBProto Labs, Inc.	0.05%	48,444	$3M	trimmed−5%	0.00 pp	10 q
unresolvedTcf Financial Corp	0.05%	211,975	$3M	trimmed−9%	0.00 pp	10 q
unresolvedCabelas Inc. Cl A	0.04%	52,550	$2M	added+44%	+0.01 pp	10 q
unresolvedMOCON Inc.	0.04%	185,505	$3M	added+5%	0.00 pp	10 q
RAVNRaven Industries Inc	0.04%	160,353	$3M	added+23%	0.00 pp	2 q
SCHWThe Charles Schwab Corporation	0.04%	100,148	$3M	added+17%	0.00 pp	10 q
SCHBSchwab U.S. Broad Market ETF	0.04%	53,730	$2M	added+8%	0.00 pp	10 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	0.04%	21,796	$3M	added+5%	0.00 pp	10 q
unresolvedVascular Solutions	0.04%	76,553	$2M	trimmed−16%	0.00 pp	10 q
AAPLApple Inc.	0.03%	15,278	$2M	added+10%	+0.01 pp	10 q
unresolvedBank Mutual Corp	0.03%	281,013	$2M	trimmed−4%	0.00 pp	10 q
BRK.BBERKSHIRE HATHAWAY Class B	0.03%	13,638	$2M	trimmed−1%	0.00 pp	10 q
MCDMcDonald's Corporation	0.03%	17,269	$2M	added+3%	+0.01 pp	10 q
PSXPhillips 66	0.03%	25,049	$2M	trimmed−2%	0.00 pp	10 q
SPYState Street SPDR S&P 500 ETF Trust	0.03%	10,650	$2M	trimmed−28%	−0.01 pp	10 q
TAT&T Inc.	0.02%	39,786	$1M	added+1%	0.00 pp	10 q
AMGNAmgen Inc	0.02%	11,166	$2M	added+3%	0.00 pp	10 q
IVViShares Core S&P 500 ETF	0.02%	5,496	$1M	trimmed−2%	0.00 pp	10 q
NOGNorthern Oil and Gas, Inc.	0.02%	343,280	$2M	added+30%	−0.01 pp	9 q
ORCLOracle Corp	0.02%	27,537	$995,000	added+1%	0.00 pp	10 q
PEPPepsiCo, Inc.	0.02%	11,676	$1M	added+1%	0.00 pp	10 q
RYRoyal Bank of Canada	0.02%	17,690	$977,000	held	—	10 q
SCHFSchwab International Equity ETF	0.02%	43,000	$1M	held	—	10 q
WBAWalgreens Boots Alliance, Inc	0.02%	12,305	$1M	added0%	+0.01 pp	4 q
GOOGLAlphabet Inc. Class A	0.01%	583	$372,000	new	+0.01 pp	new
MOAltria Group, Inc.	0.01%	9,633	$524,000	added+3%	0.00 pp	10 q
AMZNAmazon.Com Inc	0.01%	728	$373,000	held	—	8 q
ADPAutomatic Data Processing	0.01%	4,777	$384,000	trimmed−2%	0.00 pp	10 q
BDXBecton, Dickinson and Co.	0.01%	5,217	$692,000	held	—	10 q
BRK.ABerkshire Hathaway Inc.	0.01%	3	$586,000	held	—	9 q
BIIBBiogen Inc.	0.01%	1,095	$320,000	held	—	10 q
BABoeing Company	0.01%	2,902	$380,000	held	—	10 q
unresolvedCigna Corporation	0.01%	4,695	$634,000	held	—	10 q
CATCaterpillar Inc.	0.01%	5,132	$335,000	added+25%	+0.01 pp	10 q
CSCOCisco Systems, Inc. (DE)	0.01%	22,893	$601,000	trimmed−3%	0.00 pp	10 q
KOCoca-Cola Company	0.01%	22,509	$903,000	added+3%	0.00 pp	10 q
CLColgate-Palmolive Company	0.01%	8,973	$569,000	held	—	10 q
COSTCostco Wholesale Corp	0.01%	3,138	$454,000	added+12%	0.00 pp	10 q
DAKTDaktronics Inc	0.01%	76,040	$659,000	trimmed−3%	0.00 pp	10 q
DDominion Energy, Inc	0.01%	6,025	$424,000	added+1%	0.00 pp	10 q
FDXFedEx Corporation	0.01%	3,467	$499,000	held	—	10 q
FTAFirst Trust Large Cap Value AlphaDEX Fund (based on the Defined Large Cap Value Index--symbol DEFILVOI)	0.01%	13,690	$517,000	trimmed−7%	0.00 pp	8 q
IFFInternational Flavors & Fragrances Inc.	0.01%	4,000	$413,000	held	—	10 q
EFAiShares MSCI EAFE ETF	0.01%	15,722	$901,000	added×2.1	0.00 pp	10 q
IJHiShares Core S&P Mid-Cap ETF	0.01%	2,555	$349,000	held	—	4 q
LOWLowe's Companies Inc.	0.01%	6,319	$436,000	trimmed−2%	0.00 pp	10 q
NEENextEra Energy, Inc.	0.01%	3,474	$339,000	added+13%	+0.01 pp	10 q
NKENike, Inc.	0.01%	3,075	$378,000	added+14%	+0.01 pp	5 q
NVSNovartis AG	0.01%	4,080	$375,000	held	—	10 q
NMSNuveen Minnesota Quality Municipal Income Fund	0.01%	37,002	$538,000	held	—	4 q
PMPhilip Morris International Inc.	0.01%	8,048	$638,000	trimmed−1%	0.00 pp	10 q
PIIPolaris Inc.	0.01%	4,104	$492,000	held	—	10 q
RDS.ARoyal Dutch Shell PLC	0.01%	12,636	$599,000	added+9%	0.00 pp	10 q
MDYState Street SPDR S&P MIDCAP 400 ETF Trust	0.01%	1,795	$447,000	new	+0.01 pp	new
unresolvedSigma Aldrich Corp	0.01%	4,992	$693,000	trimmed−11%	0.00 pp	10 q
SU6Surmodics Inc	0.01%	30,590	$668,000	trimmed−3%	0.00 pp	10 q
TNCTennant Company	0.01%	7,900	$444,000	held	—	10 q
UTXZRTX Corporation	0.01%	10,412	$927,000	held	—	10 q
VBVanguard Morningstar Small-Cap ETF	0.01%	3,030	$327,000	trimmed−41%	0.00 pp	9 q
VVISA Inc.	0.01%	8,457	$589,000	held	—	10 q
WMTWalmart Inc.	0.01%	8,362	$542,000	trimmed−17%	0.00 pp	10 q
LNTAlliant Energy Corporation	0.00%	4,364	$255,000	held	—	8 q
GOOGAlphabet Inc. Class C	0.00%	505	$307,000	added+2%	0.00 pp	6 q
AMPAmeriprise Financial, Inc.	0.00%	2,391	$261,000	held	—	9 q
ALVAutoliv, Inc.	0.00%	2,664	$290,000	held	—	4 q
BACBank of America Corporation	0.00%	13,811	$215,000	held	—	10 q
BMOBank of Montreal	0.00%	4,774	$260,000	trimmed−22%	−0.01 pp	10 q
CVSCvs Health Corporation	0.00%	2,246	$217,000	new	0.00 pp	new
CELGCelgene Corp	0.00%	2,086	$226,000	added+17%	0.00 pp	3 q
CMCSAComcast Corp	0.00%	3,839	$218,000	held	—	10 q
DHRDanaher Corporation	0.00%	3,647	$311,000	added+52%	0.00 pp	8 q
unresolvedDu Pont E I De Nemours & Co	0.00%	5,206	$251,000	trimmed−0%	0.00 pp	5 q
EXCExelon Corporation	0.00%	9,159	$272,000	added+9%	0.00 pp	10 q
IEXIDEX Corporation	0.00%	4,072	$290,000	held	—	10 q
IDXXIdexx Laboratories Inc	0.00%	3,998	$297,000	held	—	8 q
IWRiShares Russell Mid-Cap ETF	0.00%	1,381	$215,000	held	—	2 q
KELKellanova	0.00%	3,850	$256,000	held	—	10 q
NSCNorfolk Southern Corp.	0.00%	3,527	$269,000	added+9%	0.00 pp	10 q
POMPolymet Mining Corp	0.00%	10,000	$7,000	held	—	10 q
PCYOPure Cycle Corporation	0.00%	11,855	$59,000	held	—	10 q
SBUXStarbucks Corp	0.00%	5,030	$286,000	added+22%	0.00 pp	8 q
SYYSysco Corporation	0.00%	6,687	$261,000	trimmed−2%	0.00 pp	9 q
TMOThermo Fisher Scientific, Inc.	0.00%	1,885	$230,000	trimmed−19%	0.00 pp	7 q
WECWEC Energy Group, Inc.	0.00%	4,494	$235,000	trimmed−6%	0.00 pp	2 q
WABCWestamerica Bancorporation	0.00%	5,359	$238,000	held	—	10 q
WYWeyerhaeuser Company	0.00%	9,572	$262,000	held	—	8 q
ACNAccenture PLC	0.00%	2,227	$219,000	new	0.00 pp	new
unresolvedManitowoc Inc	—	−140,950	—	exited	−0.04 pp	—
WDRWaddell & Reed Financial, Inc.	—	−52,000	—	exited	−0.03 pp	—
ALNYAlnylam Pharmaceuticals, Inc.	—	−2,200	—	exited	0.00 pp	—
APCAnadarko Petroleum Corp	—	−3,056	—	exited	0.00 pp	—
unresolvedGoogle Inc.	—	−493	—	exited	0.00 pp	—
unresolvedHalyard Health Inc	—	−6,013	—	exited	0.00 pp	—
IAUiShares Gold Trust	—	−27,435	—	exited	0.00 pp	—
EEMiShares MSCI Emerging Markets ETF	—	−6,596	—	exited	0.00 pp	—
IJTiShares S&P Small-Cap 600 Growth ETF	—	−1,655	—	exited	0.00 pp	—
TXNTexas Instruments Incorporated	—	−4,500	—	exited	0.00 pp	—
VEAVanguard FTSE Developed Markets ETF	—	−5,420	—	exited	0.00 pp	—
VWOVanguard FTSE Emerging Markets ETF	—	−6,534	—	exited	0.00 pp	—

Source

Form: 13F-HR
Reading: 3 defects · 18 unresolved
Accession: 0001104659-15-079002
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 02079K107 not on the Official 13(f) List for 2015-09-30
A security outside the official 13F list — CUSIP 02079K305 not on the Official 13(f) List for 2015-09-30
A security outside the official 13F list — CUSIP 771195104 not on the Official 13(f) List for 2015-09-30

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