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Mairs & Power

Q1 2019 13F · by Andrew Adams, CIO

As of
Mar 31, 2019
Filed
May 15, 2019
US stock
$8.2B · prev $7.4B
Positions
212 · prev 200
Options notional
$0
Documents
1· no amendments

Picture97.8% US stock

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

  • US stock listed on a US exchange 97.8%
  • Foreign stock not listed in the US 2.2%
  • Notes debt, at principal 0.0%
  • Puts at notional value 0.0%
  • Calls at notional value 0.0%

Moves173 since the prior filing

The book

Diversified · behaves like 44 equal-sized positions

  1. Very concentrated
  2. Concentrated
  3. Focused
  4. Diversified

Low turnover · 11% a year, about 9.1 years per position

  1. Low
  2. Moderate
  3. High

Top 5 positions20% of US stock

  1. MMM 3M Company trimmed−0.09 pp trimmed−0.094.4%
  2. ECL Ecolab, Inc. trimmed−0.07 pp trimmed−0.074.3%
  3. GOOG Alphabet Inc. Class C added+0.22 pp added+0.224.0%
  4. USB U.S. Bancorp trimmed−0.25 pp trimmed−0.253.9%
  5. JNJ Johnson & Johnson trimmed−0.16 pp trimmed−0.163.5%

Positions212 in this filing · 6 exited

MMM3M Company4.39%1,739,535$361Mtrimmed−0%−0.09 pp24 q
ECLEcolab, Inc.4.34%2,025,955$358Mtrimmed−9%−0.07 pp24 q
GOOGAlphabet Inc. Class C3.95%277,308$325Madded+4%+0.22 pp20 q
USBU.S. Bancorp3.87%6,604,860$318Mtrimmed−1%−0.25 pp24 q
JNJJohnson & Johnson3.52%2,075,930$290Mtrimmed−2%−0.16 pp24 q
MDTMedtronic plc3.39%3,061,304$279Mtrimmed−1%−0.40 pp18 q
GGGGraco Inc3.18%5,281,152$262Mtrimmed−3%+0.10 pp24 q
HRLHormel Foods Corporation3.15%5,786,747$259Mtrimmed−3%−0.29 pp24 q
HONHoneywell International, Inc.3.09%1,603,241$255Mtrimmed−6%+0.04 pp24 q
DCIDonaldson Company, Inc.3.07%5,047,602$253Madded+1%+0.15 pp24 q
ABTAbbott Laboratories2.92%3,010,645$241Mtrimmed−5%−0.17 pp24 q
TECHBio-Techne Corp.2.78%1,153,750$229Mtrimmed−3%+0.46 pp19 q
DISThe Walt Disney Company2.62%1,946,024$216Madded+1%−0.23 pp24 q
TTCToro Company (The)2.36%2,821,807$194Mtrimmed−0%+0.23 pp24 q
MSFTMicrosoft Corp2.35%1,643,349$194Madded+11%+0.32 pp24 q
FASTFastenal Co2.19%2,799,884$180Mtrimmed−5%+0.12 pp24 q
FISVFiserv, Inc.2.18%2,036,817$180Madded+2%+0.20 pp24 q
RHHBYRoche Holding Ltd S/2.16%5,172,873$178Mtrimmed−3%−0.07 pp23 q
CHRWC.H. Robinson Worldwide, Inc.2.02%1,916,507$167Madded+6%−0.03 pp24 q
AXPAmerican Express Company1.84%1,388,333$152Madded0%+0.06 pp24 q
PFGPrincipal Financial Group, Inc.1.75%2,870,717$144Madded+9%+0.18 pp24 q
GISGeneral Mills, Inc.1.71%2,717,696$141Mtrimmed−1%+0.27 pp24 q
FULH.B. Fuller Company1.60%2,702,169$131Madded+2%+0.07 pp24 q
ZBHZimmer Biomet Holdings, Inc.1.60%1,029,477$131Madded0%+0.16 pp24 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)1.59%530,171$131Madded+10%−0.04 pp24 q
PFEPfizer Inc.1.46%2,827,510$120Mtrimmed−2%−0.25 pp24 q
CORCoresite Realty Corp1.41%1,082,907$116Madded+14%+0.29 pp7 q
unresolvedBemis Inc1.37%2,026,656$112Mtrimmed−32%−0.48 pp24 q
VVISA Inc.1.27%668,210$104Madded+22%+0.30 pp24 q
UPSUnited Parcel Service, Inc. Class B1.24%913,903$102Madded0%+0.04 pp24 q
WFCWells Fargo & Co.1.23%2,100,151$101Madded+1%−0.07 pp24 q
SLBSLB Limited1.14%2,161,947$94Madded+8%+0.17 pp24 q
LLYEli Lilly & Co.1.08%688,338$89Mtrimmed−19%−0.24 pp24 q
ONBOld National Bancorp0.99%4,948,112$81Mheld—5 q
TNCTennant Company0.99%1,306,485$81Madded+3%+0.10 pp24 q
PNRPentair plc0.89%1,645,709$73Mtrimmed−16%−0.11 pp20 q
TGTTarget Corporation0.88%898,962$72Mtrimmed−9%0.00 pp24 q
QCOMQualcomm Inc0.86%1,248,392$71Madded0%−0.10 pp24 q
GLWCorning Incorporated0.85%2,108,503$70Mtrimmed−1%−0.02 pp24 q
LFUSLittelfuse Inc0.85%381,308$70Madded+40%+0.22 pp5 q
GWBGreat Western Bancorp, Inc.0.84%2,186,656$69Mtrimmed−6%−0.14 pp13 q
HDHome Depot, Inc.0.73%312,250$60Mtrimmed−1%0.00 pp24 q
NVTnVent Electric plc0.71%2,155,072$58Mtrimmed−0%+0.06 pp4 q
ASBAssociated Banc-Corp0.68%2,606,076$56Madded+1%−0.01 pp24 q
BAXBaxter International Inc.0.66%664,797$54Mtrimmed−9%+0.01 pp24 q
BMIBadger Meter, Inc.0.58%855,204$48Mtrimmed−37%−0.32 pp24 q
SCHWThe Charles Schwab Corporation0.56%1,082,637$46Madded+13%+0.02 pp24 q
SNASnap-on Incorporated0.51%269,435$42Mtrimmed−11%−0.09 pp24 q
NVECNVE Corp0.49%415,298$41Madded+14%+0.06 pp24 q
XOMExxon Mobil Corp0.44%447,953$36Mtrimmed−11%−0.02 pp24 q
GNRCGenerac Holdings Inc0.42%678,832$35Madded0%−0.03 pp21 q
TRVThe Travelers Companies, Inc.0.40%238,430$33Mtrimmed−4%0.00 pp24 q
CVXChevron Corporation0.38%253,064$31Mtrimmed−2%0.00 pp24 q
EMREmerson Electric Co.0.35%415,075$28Mtrimmed−6%−0.01 pp24 q
PGProcter & Gamble Company0.33%264,208$27Mtrimmed−17%−0.06 pp24 q
JPMJPMorgan Chase & Co.0.31%249,289$25Madded0%−0.02 pp24 q
MSIMotorola Solutions, Inc. New0.30%177,451$25Madded+58%+0.13 pp3 q
PRLBProto Labs, Inc.0.30%233,176$25Mtrimmed−13%−0.11 pp24 q
CLBCore Laboratories Inc.0.28%332,899$23Madded+81%+0.13 pp3 q
SHWThe Sherwin-Williams Company0.27%52,394$23Mnew+0.27 ppnew
INTCIntel Corp0.26%392,312$21Mtrimmed−1%+0.01 pp24 q
THRMGentherm Inc0.23%523,065$19Mtrimmed−5%−0.07 pp22 q
CFRCullen/Frost Bankers Inc.0.22%186,475$18Madded+16%+0.03 pp11 q
KMBKimberly-Clark Corp.0.20%132,239$16Mtrimmed−27%−0.08 pp24 q
APOGApogee Enterprises Inc0.18%395,730$15Madded+3%+0.03 pp24 q
CRAYCray, Inc.0.18%555,618$14Mtrimmed−62%−0.25 pp24 q
OSKOshkosh Corp.0.17%184,200$14Mtrimmed−0%+0.02 pp24 q
WTFCWintrust Financial Corp0.17%212,285$14Madded+8%−0.01 pp24 q
XELXcel Energy, Inc.0.17%248,643$14Mtrimmed−1%0.00 pp24 q
PDCOPatterson Companies, Inc.0.16%599,765$13Madded+5%+0.01 pp24 q
BKHBlack Hills Corporation0.15%170,150$13Mtrimmed−4%0.00 pp9 q
CTLTCatalent, Inc.0.15%312,358$13Mtrimmed−0%+0.02 pp9 q
HSYThe Hershey Company0.15%104,703$12Mtrimmed−13%−0.02 pp24 q
BMYBristol-Myers Squibb Co.0.14%249,356$12Mtrimmed−2%−0.04 pp24 q
GBCIGlacier Bancorp Inc0.14%292,375$12Mtrimmed−0%−0.02 pp11 q
HUBGHUB Group Inc0.14%273,665$11Madded+12%+0.02 pp24 q
CASYCasey's General Stores Inc0.13%84,600$11Mtrimmed−0%−0.02 pp24 q
ELANElanco Animal Health Incorporated0.13%324,144$10Mnew+0.13 ppnew
PINCNPremier Inc-class A0.12%275,909$10Madded+4%−0.01 pp11 q
ATUEnerpac Tool Group Corp.0.11%360,508$9Mtrimmed−5%0.00 pp17 q
INSPInspire Medical Systems, Inc.0.11%156,730$9Madded0%+0.02 pp4 q
42OPhysicians Realty Trust0.11%494,895$9Mtrimmed−0%0.00 pp18 q
RAVNRaven Industries Inc0.11%234,371$9Madded+36%+0.03 pp16 q
MCSThe Marcus Corporation0.10%202,658$8Mtrimmed−4%−0.01 pp12 q
AIRAAR Corp.0.09%217,170$7Madded+23%0.00 pp4 q
CRZOCarrizo Oil & Gas Inc0.09%564,560$7Madded+48%+0.03 pp3 q
COPConocoPhillips0.09%108,954$7Mtrimmed−2%0.00 pp24 q
VZVerizon Communications0.09%119,044$7Mtrimmed−1%0.00 pp24 q
WKWorkiva Inc.0.09%138,813$7Mtrimmed−22%0.00 pp14 q
ABBVAbbvie Inc.0.08%84,596$7Mtrimmed−15%−0.04 pp24 q
AAPLApple Inc.0.08%33,151$6Mtrimmed−2%+0.01 pp24 q
MRKMerck & Co., Inc.0.08%82,943$7Mtrimmed−6%−0.01 pp24 q
SPYState Street SPDR S&P 500 ETF Trust0.08%22,657$6Mtrimmed−68%−0.16 pp24 q
UFCSUnited Fire Group Inc.0.08%149,432$7Mtrimmed−7%−0.04 pp21 q
AEBAAllete Inc0.07%74,818$6Mtrimmed−2%−0.01 pp24 q
IBMInternational Business Machines Corporation0.07%42,599$6Mtrimmed−9%0.00 pp24 q
IINIntriCon Corporation0.07%222,998$6Madded+53%+0.02 pp6 q
MGPIMGP Ingredients Inc0.06%66,200$5Madded+46%+0.03 pp2 q
OASOasis Petroleum Inc0.06%800,865$5Madded+12%+0.01 pp14 q
TTSTile Shop Hldgs Inc0.06%941,765$5Mtrimmed−7%−0.01 pp11 q
UBSIUnited Bankshares Inc0.06%130,359$5Mtrimmed−17%−0.01 pp8 q
BRK.BBERKSHIRE HATHAWAY Class B0.05%22,163$4Mtrimmed−1%−0.01 pp24 q
CYBECyberoptics Corp0.05%217,444$4Mtrimmed−2%0.00 pp9 q
QCRHQCR Holdings Inc0.05%118,000$4Madded+14%+0.01 pp9 q
BRK.ABerkshire Hathaway Inc.0.04%11$3Mheld—23 q
CCMPCMC Materials, Inc.0.04%30,000$3Mnew+0.04 ppnew
unresolvedCalyxt Inc0.04%179,431$3Madded0%+0.01 pp6 q
CSIICardiovascular Systems, Inc.0.04%95,404$4Madded+15%+0.01 pp19 q
DGIIDigi International Inc0.04%251,185$3Madded+12%+0.01 pp3 q
EMCIEmc Ins Group Inc0.04%112,216$4Mtrimmed−13%−0.02 pp13 q
FEYEFireEye, Inc.0.04%184,295$3Mtrimmed−0%0.00 pp3 q
HWKNHawkins Inc0.04%98,637$4Mtrimmed−11%−0.02 pp24 q
SCHBSchwab U.S. Broad Market ETF0.04%45,370$3Mheld—24 q
DLXDeluxe Corporation0.03%49,676$2Mtrimmed−0%0.00 pp24 q
MCDMcDonald's Corporation0.03%14,806$3Mtrimmed−1%−0.01 pp24 q
WUThe Western Union Company0.03%116,005$2Mtrimmed−25%−0.01 pp24 q
TAT&T Inc.0.02%40,857$1Mtrimmed−12%0.00 pp24 q
GOOGLAlphabet Inc. Class A0.02%1,430$2Madded0%0.00 pp15 q
AMGNAmgen Inc0.02%9,080$2Mtrimmed−3%0.00 pp24 q
BABoeing Company0.02%4,180$2Madded+8%0.00 pp24 q
CSCOCisco Systems, Inc. (DE)0.02%37,184$2Mtrimmed−3%0.00 pp24 q
KOCoca-Cola Company0.02%28,942$1Mtrimmed−3%0.00 pp24 q
unresolvedGeneral Electric Co0.02%150,791$2Mtrimmed−28%0.00 pp24 q
IVViShares Core S&P 500 ETF0.02%4,464$1Mheld—24 q
MDUMDU Resources Group, Inc.0.02%69,093$2Mtrimmed−1%0.00 pp24 q
MTSCMTS Systems Corp0.02%32,515$2Madded+3%0.00 pp24 q
ORCLOracle Corp0.02%30,849$2Mtrimmed−1%0.00 pp24 q
PEPPepsiCo, Inc.0.02%14,427$2Mtrimmed−1%0.00 pp24 q
PSXPhillips 660.02%21,611$2Mtrimmed−2%−0.01 pp24 q
SCHFSchwab International Equity ETF0.02%50,190$2Mheld—24 q
UNPUnion Pacific Corp.0.02%8,786$1Madded+3%0.00 pp12 q
UTXZRTX Corporation0.02%12,759$2Mtrimmed−9%0.00 pp24 q
ADBEAdobe Inc.0.01%2,075$553,000trimmed−1%0.00 pp14 q
AMZNAmazon.Com Inc0.01%616$1Mheld—22 q
AMTAmerican Tower Corporation0.01%3,345$659,000held—5 q
ADPAutomatic Data Processing0.01%5,052$807,000held—24 q
BPBP p.l.c.0.01%24,302$1Mtrimmed−12%0.00 pp24 q
BACBank of America Corporation0.01%14,955$413,000trimmed−3%0.00 pp24 q
BDXBecton, Dickinson and Co.0.01%3,165$790,000trimmed−4%0.00 pp24 q
CSXCSX Corporation0.01%7,950$595,000held—9 q
CATCaterpillar Inc.0.01%7,040$954,000held—24 q
CLColgate-Palmolive Company0.01%8,876$608,000held—24 q
COSTCostco Wholesale Corp0.01%3,453$836,000trimmed−2%0.00 pp24 q
unresolvedDowdupont Inc0.01%9,579$511,000trimmed−12%0.00 pp7 q
EXCExelon Corporation0.01%11,428$573,000held—24 q
IDXXIdexx Laboratories Inc0.01%3,398$760,000held—22 q
ITWIllinois Tool Works Inc.0.01%2,899$416,000held—9 q
DVYiShares Select Dividend ETF0.01%5,959$585,000held—14 q
IWRiShares Russell Mid-Cap ETF0.01%12,860$694,000trimmed−6%0.00 pp16 q
IWDiShares Russell 1000 Value ETF0.01%4,075$503,000trimmed−15%0.00 pp14 q
IWFiShares Russell 1000 Growth ETF0.01%6,545$991,000held—14 q
IWMiShares Russell 2000 ETF0.01%3,475$532,000held—14 q
LOWLowe's Companies Inc.0.01%7,369$807,000held—24 q
MAMastercard Incorporated0.01%2,695$635,000held—6 q
NSCNorfolk Southern Corp.0.01%4,360$815,000trimmed−4%0.00 pp24 q
NMSNuveen Minnesota Quality Municipal Income Fund0.01%37,002$496,000trimmed−10%0.00 pp18 q
PMPhilip Morris International Inc.0.01%6,635$586,000trimmed−8%0.00 pp24 q
REZIResideo Technologies, Inc.0.01%55,696$1Mtrimmed−72%−0.04 pp2 q
SBUXStarbucks Corp0.01%9,775$727,000held—9 q
unresolvedTcf Financial Corp0.01%35,976$744,000trimmed−1%0.00 pp24 q
TMOThermo Fisher Scientific, Inc.0.01%2,060$564,000held—21 q
WECWEC Energy Group, Inc.0.01%7,369$583,000held—16 q
WMTWalmart Inc.0.01%4,621$451,000held—24 q
WBAWalgreens Boots Alliance, Inc0.01%9,950$630,000trimmed−2%0.00 pp18 q
WYWeyerhaeuser Company0.01%17,458$460,000trimmed−8%0.00 pp22 q
LNTAlliant Energy Corporation0.00%7,228$341,000held—22 q
MOAltria Group, Inc.0.00%4,288$246,000trimmed−30%0.00 pp24 q
AMPAmeriprise Financial, Inc.0.00%2,331$299,000held—23 q
AMEAmetek, Inc.0.00%2,700$224,000new0.00 ppnew
AMATApplied Materials Inc0.00%8,352$331,000trimmed−9%0.00 pp9 q
BIIBBiogen Inc.0.00%1,025$242,000held—24 q
CELGCelgene Corp0.00%2,870$271,000new0.00 ppnew
CNPCenterPoint Energy, Inc.0.00%6,798$209,000new0.00 ppnew
CLXClorox Company0.00%1,513$243,000held—14 q
CMCSAComcast Corp0.00%8,285$331,000trimmed−2%0.00 pp10 q
DEDeere & Company0.00%1,442$230,000trimmed−9%0.00 pp6 q
DDominion Energy, Inc0.00%4,632$355,000held—24 q
EIMEaton Vance Municipal Bond Fund0.00%14,025$174,000held—4 q
EWEdwards Lifesciences Corp0.00%1,320$253,000held—3 q
EPDEnterprise Products Partners L.P.0.00%9,200$268,000held—2 q
METAMeta Platforms, Inc. Class A0.00%1,300$217,000new0.00 ppnew
FLTCorpay, Inc.0.00%1,000$247,000new0.00 ppnew
GTXGarrett Motion Inc.0.00%14,154$208,000trimmed−91%−0.03 pp2 q
GPCGenuine Parts Company0.00%1,950$218,000new0.00 ppnew
HEIHEICO Corporation0.00%2,345$222,000new0.00 ppnew
IPGPIPG Photonics Corporation0.00%1,500$228,000trimmed−25%0.00 pp8 q
IFFInternational Flavors & Fragrances Inc.0.00%2,466$318,000held—24 q
EFAiShares MSCI EAFE ETF0.00%6,239$405,000trimmed−5%−0.01 pp24 q
IJHiShares Core S&P Mid-Cap ETF0.00%2,105$399,000held—18 q
IJTiShares S&P Small-Cap 600 Growth ETF0.00%1,655$295,000held—14 q
KELKellanova0.00%4,250$244,000held—24 q
MKCMcCormick & Company, Incorporated Non-VTG CS0.00%1,350$203,000new0.00 ppnew
MDLZMondelez International, Inc. Class A0.00%4,364$218,000new0.00 ppnew
NSRGYNestle S.a S/0.00%2,450$234,000new0.00 ppnew
NEENextEra Energy, Inc.0.00%1,656$320,000held—24 q
NKENike, Inc.0.00%4,400$371,000held—8 q
NOCNorthrop Grumman Corp.0.00%747$201,000new0.00 ppnew
NWBONorthwest Biothrputcs Inc0.00%12,500$3,000held—14 q
NVSNovartis AG0.00%2,900$279,000held—24 q
NADNuveen Quality Municipal Income Fund0.00%20,144$273,000trimmed−37%−0.01 pp9 q
PAYXPaychex Inc0.00%3,019$242,000trimmed−23%0.00 pp7 q
PCYOPure Cycle Corporation0.00%11,855$117,000held—24 q
RTNRaytheon Company0.00%1,375$250,000held—13 q
RDS.ARoyal Dutch Shell PLC0.00%5,095$319,000trimmed−4%0.00 pp24 q
XLKState Street Technology Select Sector SPDR ETF0.00%2,752$204,000new0.00 ppnew
SOThe Southern Company0.00%4,417$228,000new0.00 ppnew
SYYSysco Corporation0.00%5,272$352,000held—23 q
VIGVanguard Dividend Appreciation ETF0.00%3,204$351,000held—9 q
WABCWestamerica Bancorporation0.00%5,359$331,000held—24 q
ZTSZoetis Inc.0.00%3,840$387,000held—5 q
ACNAccenture PLC0.00%1,191$210,000new0.00 ppnew
SSYSStratasys Inc (ISRAEL)0.00%8,500$202,000new0.00 ppnew
FDXFedEx Corporation—−2,140—exited0.00 pp—
VMOInvesco Municipal Opportunity Trust—−10,000—exited0.00 pp—
NUWNuveen AMT-Free Municipal Value Fund—−13,000—exited0.00 pp—
PMLPimco Municipal Income Fund II Of Beneficial Int.—−14,700—exited0.00 pp—
PIIPolaris Inc.—−3,623—exited0.00 pp—
CWBState Street SPDR Bloomberg Convertible Securities ETF—−5,548—exited0.00 pp—

Source

Form
13F-HR
Reading
3 defects · 5 unresolved
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 2019-03-31
  • A security outside the official 13F list — CUSIP 66737P600 not on the Official 13(f) List for 2019-03-31
  • A security outside the official 13F list — CUSIP 771195104 not on the Official 13(f) List for 2019-03-31