Mairs & Power

Q3 2016 13F

As of: Sep 30, 2016
Filed: Nov 14, 2016
US stock: $7.6B · prev $7.4B
Positions: 194 · prev 189
Options notional: $0
Documents: 1· no amendments

Picture98.1% US stock

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

US stock listed on a US exchange 98.1%
Foreign stock not listed in the US 1.9%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves173 since the prior filing

+2.0 pp in · −2.1 pp out

New 14 +0.35 pp
Added 73 +1.69 pp
Trimmed 77 −2.05 pp
Exited 9 0.00 pp

The book

Diversified · behaves like 46 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 9.4% a year, about 10.6 years per position

Low
Moderate
High

Top 5 positions19% of US stock

MMM 3M Company trimmed−0.10 pp trimmed−0.104.2%
ECL Ecolab, Inc. trimmed0.00 pp trimmed0.004.0%
USB U.S. Bancorp added+0.16 pp added+0.164.0%
HON Honeywell International, Inc. added−0.03 pp added−0.033.4%
MDT Medtronic plc trimmed−0.14 pp trimmed−0.143.4%

Positions194 in this filing · 9 exited


MMM3M Company	4.18%	1,800,146	$317M	trimmed−0%	−0.10 pp	14 q
ECLEcolab, Inc.	4.01%	2,501,978	$305M	trimmed−0%	0.00 pp	14 q
USBU.S. Bancorp	3.95%	6,981,154	$299M	added0%	+0.16 pp	14 q
HONHoneywell International, Inc.	3.39%	2,204,336	$257M	added+1%	−0.03 pp	14 q
MDTMedtronic plc	3.37%	2,960,586	$256M	trimmed−1%	−0.14 pp	8 q
JNJJohnson & Johnson	3.35%	2,153,237	$254M	trimmed−1%	−0.23 pp	14 q
GGGGraco Inc	3.19%	3,265,581	$242M	added+11%	+0.05 pp	14 q
unresolvedBemis Inc	3.09%	4,589,277	$234M	added0%	−0.09 pp	14 q
unresolvedSt Jude Med Inc	3.04%	2,892,464	$231M	trimmed−1%	−0.03 pp	14 q
DCIDonaldson Company, Inc.	2.76%	5,602,673	$209M	trimmed−1%	+0.13 pp	14 q
GISGeneral Mills, Inc.	2.60%	3,090,486	$197M	trimmed−4%	−0.49 pp	14 q
TTCToro Company (The)	2.37%	3,837,664	$180M	trimmed−3%	+0.01 pp	14 q
unresolvedValspar Corp	2.36%	1,688,584	$179M	trimmed−8%	−0.33 pp	14 q
TGTTarget Corporation	2.29%	2,533,061	$174M	added+1%	−0.09 pp	14 q
SLBSLB Limited	2.27%	2,190,585	$172M	trimmed−1%	−0.09 pp	14 q
PNRPentair plc	2.26%	2,663,602	$171M	trimmed−1%	+0.14 pp	10 q
FULH.B. Fuller Company	2.17%	3,540,296	$165M	added0%	+0.08 pp	14 q
HRLHormel Foods Corporation	2.16%	4,318,895	$164M	added+3%	+0.08 pp	14 q
PFEPfizer Inc.	2.03%	4,555,073	$154M	added+2%	−0.10 pp	14 q
DISThe Walt Disney Company	1.99%	1,627,959	$151M	added+12%	+0.07 pp	14 q
TECHBio-Techne Corp.	1.97%	1,367,099	$150M	added+1%	−0.09 pp	9 q
PFGPrincipal Financial Group, Inc.	1.96%	2,882,914	$148M	trimmed−1%	+0.35 pp	14 q
WFCWells Fargo & Co.	1.91%	3,270,349	$145M	added0%	−0.17 pp	14 q
RHHBYRoche Holding Ltd S/	1.90%	4,644,431	$144M	added+16%	+0.12 pp	13 q
CHRWC.H. Robinson Worldwide, Inc.	1.87%	2,009,110	$142M	added+1%	−0.12 pp	14 q
UPSUnited Parcel Service, Inc. Class B	1.77%	1,227,687	$134M	trimmed−0%	−0.02 pp	14 q
unresolvedGeneral Electric Co	1.61%	4,120,087	$122M	added+1%	−0.13 pp	14 q
EMREmerson Electric Co.	1.56%	2,176,893	$119M	trimmed−13%	−0.20 pp	14 q
FISVFiserv, Inc.	1.48%	1,125,778	$112M	trimmed−2%	−0.20 pp	14 q
ZBHZimmer Biomet Holdings, Inc.	1.45%	848,122	$110M	trimmed−0%	+0.07 pp	14 q
WUThe Western Union Company	1.38%	5,019,654	$105M	trimmed−1%	+0.07 pp	14 q
QCOMQualcomm Inc	1.34%	1,486,059	$102M	trimmed−1%	+0.26 pp	14 q
FASTFastenal Co	1.20%	2,187,782	$91M	trimmed−0%	−0.12 pp	14 q
BAXBaxter International Inc.	1.19%	1,903,688	$91M	trimmed−2%	0.00 pp	14 q
PDCOPatterson Companies, Inc.	1.16%	1,923,561	$88M	added+25%	+0.17 pp	14 q
CRAYCray, Inc.	0.96%	3,081,521	$73M	added+8%	−0.19 pp	14 q
XOMExxon Mobil Corp	0.93%	809,058	$71M	added+1%	−0.08 pp	14 q
BMIBadger Meter, Inc.	0.92%	2,072,564	$69M	added+6%	−0.05 pp	14 q
AXPAmerican Express Company	0.90%	1,063,495	$68M	added0%	+0.03 pp	14 q
GLWCorning Incorporated	0.89%	2,863,726	$68M	trimmed−3%	+0.07 pp	14 q
ASBAssociated Banc-Corp	0.88%	3,407,599	$67M	added0%	+0.09 pp	14 q
TRVThe Travelers Companies, Inc.	0.88%	579,881	$66M	added0%	−0.05 pp	14 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	0.75%	407,512	$57M	trimmed−0%	−0.03 pp	14 q
GOOGAlphabet Inc. Class C	0.63%	61,259	$48M	added×127.6	+0.63 pp	10 q
ABTAbbott Laboratories	0.61%	1,089,562	$46M	added×2.7	+0.39 pp	14 q
CVXChevron Corporation	0.54%	399,555	$41M	added+13%	+0.04 pp	14 q
GWBGreat Western Bancorp, Inc.	0.50%	1,143,700	$38M	added+23%	+0.10 pp	3 q
unresolvedG & K Services Cl A	0.47%	370,580	$35M	trimmed−21%	−0.02 pp	14 q
SNASnap-on Incorporated	0.46%	231,004	$35M	added×4.0	+0.34 pp	14 q
GNRCGenerac Holdings Inc	0.42%	871,356	$32M	added+5%	+0.03 pp	11 q
SSYSStratasys Inc (ISRAEL)	0.41%	1,296,563	$31M	added+3%	+0.02 pp	14 q
NVECNVE Corp	0.40%	509,326	$30M	trimmed−2%	−0.01 pp	14 q
IBMInternational Business Machines Corporation	0.39%	186,501	$30M	trimmed−5%	−0.01 pp	14 q
PGProcter & Gamble Company	0.35%	297,025	$27M	added+1%	+0.01 pp	14 q
HDHome Depot, Inc.	0.34%	201,084	$26M	added0%	−0.01 pp	14 q
unresolvedShire PLC	0.31%	119,577	$23M	trimmed−35%	−0.14 pp	2 q
PRLBProto Labs, Inc.	0.29%	367,599	$22M	added+17%	+0.05 pp	14 q
AEBAAllete Inc	0.28%	362,290	$22M	added+15%	+0.01 pp	14 q
KMBKimberly-Clark Corp.	0.27%	161,436	$20M	added+7%	−0.01 pp	14 q
LLYEli Lilly & Co.	0.26%	242,170	$19M	trimmed−2%	0.00 pp	14 q
JPMJPMorgan Chase & Co.	0.25%	284,243	$19M	added+1%	+0.01 pp	14 q
BMYBristol-Myers Squibb Co.	0.24%	330,822	$18M	added+16%	−0.04 pp	14 q
ABBVAbbvie Inc.	0.22%	266,453	$17M	trimmed−1%	0.00 pp	14 q
INTCIntel Corp	0.21%	413,743	$16M	trimmed−2%	+0.02 pp	14 q
XELXcel Energy, Inc.	0.20%	370,919	$15M	trimmed−6%	−0.04 pp	14 q
COPConocoPhillips	0.17%	297,595	$13M	trimmed−32%	−0.09 pp	14 q
MDUMDU Resources Group, Inc.	0.16%	483,672	$12M	trimmed−10%	−0.01 pp	14 q
OSKOshkosh Corp.	0.16%	212,180	$12M	added+13%	+0.04 pp	14 q
APOGApogee Enterprises Inc	0.13%	225,700	$10M	added+21%	+0.01 pp	14 q
DLXDeluxe Corporation	0.13%	142,225	$10M	trimmed−12%	−0.02 pp	14 q
THRMGentherm Inc	0.13%	317,795	$10M	added+68%	+0.04 pp	12 q
GBCIGlacier Bancorp Inc	0.13%	347,500	$10M	new	+0.13 pp	new
CASYCasey's General Stores Inc	0.12%	74,570	$9M	added+28%	+0.02 pp	14 q
MSFTMicrosoft Corp	0.12%	152,472	$9M	trimmed−2%	+0.01 pp	14 q
42OPhysicians Realty Trust	0.12%	422,170	$9M	added+27%	+0.03 pp	8 q
SCHWThe Charles Schwab Corporation	0.12%	297,598	$9M	added+15%	+0.03 pp	14 q
UFCSUnited Fire Group Inc.	0.12%	212,007	$9M	added+13%	+0.01 pp	11 q
WTFCWintrust Financial Corp	0.12%	169,230	$9M	added+5%	+0.01 pp	14 q
unresolvedCardinal Financial Corp	0.11%	306,706	$8M	trimmed−2%	+0.02 pp	8 q
VZVerizon Communications	0.11%	165,339	$9M	trimmed−3%	−0.02 pp	14 q
ATUEnerpac Tool Group Corp.	0.10%	338,440	$8M	added+20%	+0.01 pp	7 q
CFRCullen/Frost Bankers Inc.	0.10%	106,200	$8M	new	+0.10 pp	new
TNCTennant Company	0.10%	116,700	$8M	added×14.8	+0.09 pp	14 q
ADCAgree Realty Corporation	0.09%	144,569	$7M	trimmed−10%	−0.01 pp	14 q
HWKNHawkins Inc	0.09%	165,123	$7M	added+1%	−0.01 pp	14 q
HUBGHUB Group Inc	0.09%	175,450	$7M	added+14%	+0.01 pp	14 q
PINCNPremier Inc-class A	0.09%	206,000	$7M	new	+0.09 pp	new
RAVNRaven Industries Inc	0.09%	292,353	$7M	trimmed−11%	+0.01 pp	6 q
MCSThe Marcus Corporation	0.08%	254,324	$6M	added+80%	+0.04 pp	2 q
MRKMerck & Co., Inc.	0.08%	96,933	$6M	trimmed−5%	0.00 pp	14 q
unresolvedPrivatebancorp Inc	0.08%	134,600	$6M	trimmed−35%	−0.04 pp	14 q
EMCIEmc Ins Group Inc	0.07%	187,448	$5M	added+15%	+0.01 pp	3 q
unresolvedBuffalo Wild Wings Inc	0.06%	34,330	$5M	added+10%	0.00 pp	14 q
HSYThe Hershey Company	0.06%	50,002	$5M	trimmed−27%	−0.05 pp	14 q
SPYState Street SPDR S&P 500 ETF Trust	0.05%	17,469	$4M	trimmed−44%	−0.04 pp	14 q
unresolvedVasco Data Sec Intl Inc	0.05%	235,306	$4M	added+9%	0.00 pp	14 q
unresolvedVascular Solutions	0.05%	75,453	$4M	trimmed−0%	+0.01 pp	14 q
WKWorkiva Inc.	0.05%	210,523	$4M	added+15%	+0.02 pp	4 q
OASOasis Petroleum Inc	0.04%	267,000	$3M	added+51%	+0.02 pp	4 q
SPSCSPS Commerce, Inc.	0.04%	43,450	$3M	trimmed−0%	0.00 pp	14 q
unresolvedBank Mutual Corp	0.03%	267,613	$2M	trimmed−0%	0.00 pp	14 q
BRK.BBERKSHIRE HATHAWAY Class B	0.03%	13,149	$2M	trimmed−7%	0.00 pp	14 q
MTSCMTS Systems Corp	0.03%	48,728	$2M	trimmed−96%	−0.68 pp	14 q
MCDMcDonald's Corporation	0.03%	17,690	$2M	added+4%	0.00 pp	14 q
unresolvedMOCON Inc.	0.03%	153,330	$2M	trimmed−10%	0.00 pp	14 q
PSXPhillips 66	0.03%	23,951	$2M	trimmed−4%	0.00 pp	14 q
SCHBSchwab U.S. Broad Market ETF	0.03%	49,730	$3M	trimmed−19%	−0.01 pp	14 q
TAT&T Inc.	0.02%	38,126	$2M	added+1%	0.00 pp	14 q
AMGNAmgen Inc	0.02%	9,916	$2M	held	—	14 q
AAPLApple Inc.	0.02%	15,237	$2M	added0%	0.00 pp	14 q
BPBP p.l.c.	0.02%	50,517	$2M	trimmed−16%	−0.01 pp	14 q
CSIICardiovascular Systems, Inc.	0.02%	76,002	$2M	trimmed−37%	−0.01 pp	9 q
ORCLOracle Corp	0.02%	30,765	$1M	trimmed−1%	0.00 pp	14 q
PEPPepsiCo, Inc.	0.02%	14,534	$2M	added+25%	0.00 pp	14 q
SCHFSchwab International Equity ETF	0.02%	40,000	$1M	trimmed−24%	0.00 pp	14 q
unresolvedTcf Financial Corp	0.02%	108,612	$2M	trimmed−15%	0.00 pp	14 q
TTSTile Shop Hldgs Inc	0.02%	95,600	$2M	new	+0.02 pp	new
UTXZRTX Corporation	0.02%	12,384	$1M	added+23%	+0.01 pp	14 q
GOOGLAlphabet Inc. Class A	0.01%	533	$429,000	trimmed−7%	0.00 pp	5 q
MOAltria Group, Inc.	0.01%	8,298	$525,000	trimmed−4%	0.00 pp	14 q
ADPAutomatic Data Processing	0.01%	5,402	$476,000	added+20%	0.00 pp	14 q
BDXBecton, Dickinson and Co.	0.01%	5,378	$967,000	added+14%	0.00 pp	14 q
BRK.ABerkshire Hathaway Inc.	0.01%	3	$649,000	held	—	13 q
BABoeing Company	0.01%	3,990	$526,000	added+83%	+0.01 pp	14 q
unresolvedCigna Corporation	0.01%	4,695	$612,000	trimmed−2%	0.00 pp	14 q
CATCaterpillar Inc.	0.01%	7,682	$682,000	added+64%	+0.01 pp	14 q
CSCOCisco Systems, Inc. (DE)	0.01%	27,147	$861,000	added+5%	0.00 pp	14 q
KOCoca-Cola Company	0.01%	22,392	$948,000	added+11%	0.00 pp	14 q
CLColgate-Palmolive Company	0.01%	14,041	$1M	added+52%	0.00 pp	14 q
COSTCostco Wholesale Corp	0.01%	3,239	$494,000	added+12%	0.00 pp	14 q
FDXFedEx Corporation	0.01%	3,490	$610,000	added+9%	0.00 pp	14 q
FTAFirst Trust Large Cap Value AlphaDEX Fund (based on the Defined Large Cap Value Index--symbol DEFILVOI)	0.01%	10,074	$429,000	trimmed−23%	0.00 pp	12 q
IDXXIdexx Laboratories Inc	0.01%	3,998	$451,000	held	—	12 q
IFFInternational Flavors & Fragrances Inc.	0.01%	4,000	$572,000	held	—	14 q
DVYiShares Select Dividend ETF	0.01%	7,434	$637,000	held	—	4 q
IVViShares Core S&P 500 ETF	0.01%	4,816	$1M	trimmed−10%	−0.01 pp	14 q
EFAiShares MSCI EAFE ETF	0.01%	10,311	$610,000	trimmed−17%	0.00 pp	14 q
IWRiShares Russell Mid-Cap ETF	0.01%	3,610	$629,000	trimmed−10%	0.00 pp	6 q
IJHiShares Core S&P Mid-Cap ETF	0.01%	2,555	$395,000	held	—	8 q
IWDiShares Russell 1000 Value ETF	0.01%	4,735	$500,000	held	—	4 q
IWFiShares Russell 1000 Growth ETF	0.01%	7,045	$734,000	trimmed−5%	0.00 pp	4 q
IWMiShares Russell 2000 ETF	0.01%	3,520	$437,000	trimmed−14%	0.00 pp	4 q
LMTLockheed Martin Corp.	0.01%	1,604	$385,000	new	+0.01 pp	new
LOWLowe's Companies Inc.	0.01%	5,520	$399,000	held	—	14 q
NEENextEra Energy, Inc.	0.01%	4,703	$575,000	added+79%	+0.01 pp	14 q
NVSNovartis AG	0.01%	6,354	$502,000	added+68%	+0.01 pp	14 q
NMSNuveen Minnesota Quality Municipal Income Fund	0.01%	37,002	$655,000	held	—	8 q
PMPhilip Morris International Inc.	0.01%	7,285	$708,000	trimmed−9%	0.00 pp	14 q
SYYSysco Corporation	0.01%	8,987	$440,000	added+29%	+0.01 pp	13 q
TXNTexas Instruments Incorporated	0.01%	5,510	$387,000	added+57%	+0.01 pp	3 q
UNPUnion Pacific Corp.	0.01%	8,048	$785,000	added×3.3	+0.01 pp	2 q
VVISA Inc.	0.01%	5,828	$482,000	trimmed−26%	0.00 pp	14 q
WBAWalgreens Boots Alliance, Inc	0.01%	11,445	$923,000	held	—	8 q
ADBEAdobe Inc.	0.00%	2,175	$236,000	held	—	4 q
LNTAlliant Energy Corporation	0.00%	8,728	$334,000	held	—	12 q
AMZNAmazon.Com Inc	0.00%	384	$322,000	held	—	12 q
AMPAmeriprise Financial, Inc.	0.00%	2,391	$239,000	held	—	13 q
ALVAutoliv, Inc.	0.00%	2,314	$247,000	held	—	8 q
BACBank of America Corporation	0.00%	13,064	$204,000	held	—	14 q
BIIBBiogen Inc.	0.00%	1,025	$321,000	held	—	14 q
BTIBritish American Tobacco p.l.c.	0.00%	1,977	$252,000	new	0.00 pp	new
CVSCvs Health Corporation	0.00%	2,949	$262,000	trimmed−4%	0.00 pp	5 q
CAHCardinal Health, Inc.	0.00%	2,891	$225,000	new	0.00 pp	new
CNPCenterPoint Energy, Inc.	0.00%	9,398	$218,000	held	—	2 q
CLXClorox Company	0.00%	1,863	$233,000	trimmed−5%	0.00 pp	4 q
CXTCrane NXT, Co.	0.00%	4,328	$273,000	new	0.00 pp	new
DDominion Energy, Inc	0.00%	4,445	$330,000	held	—	14 q
unresolvedDu Pont E I De Nemours & Co	0.00%	4,071	$273,000	trimmed−14%	0.00 pp	9 q
EXCExelon Corporation	0.00%	6,708	$223,000	trimmed−13%	0.00 pp	14 q
ITWIllinois Tool Works Inc.	0.00%	2,199	$264,000	new	0.00 pp	new
ICFiShares Select U.S. REIT ETF	0.00%	2,515	$264,000	held	—	4 q
IJTiShares S&P Small-Cap 600 Growth ETF	0.00%	1,655	$227,000	held	—	4 q
KELKellanova	0.00%	3,850	$298,000	held	—	14 q
unresolvedLandauer	0.00%	4,629	$206,000	new	0.00 pp	new
MRSHMarsh	0.00%	5,010	$337,000	new	0.00 pp	new
NKENike, Inc.	0.00%	5,400	$284,000	held	—	9 q
NSCNorfolk Southern Corp.	0.00%	2,889	$280,000	trimmed−6%	0.00 pp	14 q
NWBONorthwest Biothrputcs Inc	0.00%	12,500	$7,000	held	—	4 q
PIIPolaris Inc.	0.00%	4,063	$315,000	held	—	14 q
PCYOPure Cycle Corporation	0.00%	11,855	$68,000	held	—	14 q
RTNRaytheon Company	0.00%	1,675	$228,000	trimmed−7%	0.00 pp	3 q
ROKRockwell Automation, Inc.	0.00%	2,073	$254,000	new	0.00 pp	new
RDS.ARoyal Dutch Shell PLC	0.00%	6,970	$349,000	trimmed−22%	−0.01 pp	14 q
MDYState Street SPDR S&P MIDCAP 400 ETF Trust	0.00%	1,080	$305,000	held	—	5 q
SU6Surmodics Inc	0.00%	10,338	$311,000	trimmed−12%	0.00 pp	14 q
TMOThermo Fisher Scientific, Inc.	0.00%	1,683	$268,000	trimmed−6%	0.00 pp	11 q
ULGXUrologix Inc	0.00%	20,000	$0	held	—	4 q
VFCV.F. Corporation	0.00%	3,645	$204,000	new	0.00 pp	new
WECWEC Energy Group, Inc.	0.00%	4,772	$286,000	held	—	6 q
WMTWalmart Inc.	0.00%	5,157	$372,000	trimmed−27%	−0.01 pp	14 q
WABCWestamerica Bancorporation	0.00%	5,359	$273,000	held	—	14 q
WYWeyerhaeuser Company	0.00%	9,783	$312,000	trimmed−1%	0.00 pp	12 q
ACNAccenture PLC	0.00%	3,039	$371,000	added+51%	0.00 pp	5 q
CBChubb Limited	0.00%	2,286	$287,000	new	0.00 pp	new
BMOBank of Montreal	—	−3,573	—	exited	0.00 pp	—
unresolvedCliffs Nat Res Inc	—	−10,000	—	exited	0.00 pp	—
DHRDanaher Corporation	—	−2,496	—	exited	0.00 pp	—
DUKDuke Energy Corporation	—	−2,421	—	exited	0.00 pp	—
IEXIDEX Corporation	—	−4,072	—	exited	0.00 pp	—
SOThe Southern Company	—	−3,770	—	exited	0.00 pp	—
SBUXStarbucks Corp	—	−4,097	—	exited	0.00 pp	—
RGRSturm, Ruger & Company, Inc.	—	−3,200	—	exited	0.00 pp	—
VBVanguard Morningstar Small-Cap ETF	—	−2,430	—	exited	0.00 pp	—

Source

Form: 13F-HR
Reading: 2 defects · 17 unresolved
Accession: 0001104659-16-156497
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 771195104 not on the Official 13(f) List for 2016-09-30
A security outside the official 13F list — CUSIP 917273104 not on the Official 13(f) List for 2016-09-30

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