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Mairs & Power

Q1 2024 13F · by Andrew Adams, CIO

As of
Mar 31, 2024
Filed
May 15, 2024
US stock
$10.3B · prev $9.5B
Positions
226 · prev 231
Options notional
$0
Documents
1· no amendments

Picture100.0% US stock

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

  • US stock listed on a US exchange 100.0%
  • Foreign stock not listed in the US 0.0%
  • Notes debt, at principal 0.0%
  • Puts at notional value 0.0%
  • Calls at notional value 0.0%

Moves200 since the prior filing

The book

Focused · behaves like 35 equal-sized positions

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

Low turnover · 10% a year, about 9.5 years per position

  1. Low
  2. Moderate
  3. High

Top 5 positions27% of US stock

  1. MSFT Microsoft Corp trimmed+0.18 pp trimmed+0.188.0%
  2. NVDA Nvidia Corp trimmed+1.85 pp trimmed+1.855.7%
  3. GOOG Alphabet Inc. Class C trimmed−0.24 pp trimmed−0.244.7%
  4. AMZN Amazon.Com Inc trimmed+0.31 pp trimmed+0.314.2%
  5. UNH UNITEDHEALTH GROUP INCORPORATED (Delaware) added−0.59 pp added−0.593.9%

Positions226 in this filing · 13 exited

MSFTMicrosoft Corp8.01%1,966,804$827Mtrimmed−0%+0.18 pp44 q
NVDANvidia Corp5.74%655,857$593Mtrimmed−12%+1.85 pp20 q
GOOGAlphabet Inc. Class C4.73%3,205,267$488Mtrimmed−4%−0.24 pp40 q
AMZNAmazon.Com Inc4.24%2,430,175$438Mtrimmed−1%+0.31 pp42 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)3.91%816,526$404Madded+1%−0.59 pp44 q
GGGGraco Inc3.43%3,792,159$354Mtrimmed−6%−0.25 pp44 q
JPMJPMorgan Chase & Co.3.33%1,716,546$344Mtrimmed−1%+0.23 pp44 q
FISVFiserv, Inc.2.95%1,909,516$305Mtrimmed−2%+0.23 pp44 q
TTCToro Company (The)2.88%3,244,481$297Madded+1%−0.38 pp44 q
LLYEli Lilly & Co.2.75%364,467$284Mtrimmed−7%+0.34 pp44 q
USBU.S. Bancorp2.53%5,849,322$261Mtrimmed−3%−0.22 pp44 q
MDTMedtronic plc2.52%2,986,579$260Madded+2%−0.03 pp38 q
ECLEcolab, Inc.2.22%991,564$229Mtrimmed−19%−0.34 pp44 q
QCOMQualcomm Inc2.15%1,312,754$222Mtrimmed−6%+0.02 pp44 q
TECHBio-Techne Corp.2.02%2,959,357$208Mtrimmed−4%−0.48 pp39 q
FASTFastenal Co2.01%2,692,096$208Mtrimmed−16%−0.17 pp44 q
LFUSLittelfuse Inc2.01%857,751$208Mtrimmed−0%−0.41 pp25 q
NVTnVent Electric plc1.92%2,630,651$198Mtrimmed−8%+0.14 pp24 q
HRLHormel Foods Corporation1.87%5,548,480$194Madded+2%+0.02 pp44 q
JNJJohnson & Johnson1.86%1,216,514$192Mtrimmed−4%−0.23 pp44 q
MSIMotorola Solutions, Inc. New1.72%500,799$178Mtrimmed−0%+0.06 pp23 q
VVISA Inc.1.70%627,269$175Mtrimmed−0%−0.02 pp44 q
FULH.B. Fuller Company1.66%2,149,029$171Mtrimmed−6%−0.29 pp44 q
VZVerizon Communications1.63%4,004,841$168Madded+18%+0.28 pp44 q
LNTAlliant Energy Corporation1.62%3,321,368$167Madded+5%−0.10 pp42 q
AAPLApple Inc.1.59%955,549$164Madded+63%+0.40 pp44 q
SHWThe Sherwin-Williams Company1.55%460,977$160Mtrimmed−3%0.00 pp21 q
WFCWells Fargo & Co.1.50%2,668,307$155Mtrimmed−4%+0.06 pp44 q
ABTAbbott Laboratories1.38%1,249,673$142Mtrimmed−3%−0.11 pp44 q
TNCTennant Company1.38%1,169,609$142Mtrimmed−5%+0.18 pp44 q
HONHoneywell International, Inc.1.32%664,822$136Mtrimmed−2%−0.18 pp44 q
ENTGEntegris Inc1.29%947,489$133Mtrimmed−5%+0.03 pp10 q
DCIDonaldson Company, Inc.1.16%1,601,031$120Mtrimmed−15%−0.14 pp44 q
ROKRockwell Automation, Inc.1.08%382,874$112Mtrimmed−0%−0.18 pp19 q
PFGPrincipal Financial Group, Inc.1.03%1,228,314$106Madded+3%+0.04 pp44 q
SYYSysco Corporation1.00%1,269,689$103Mtrimmed−10%−0.09 pp43 q
SCHWThe Charles Schwab Corporation0.97%1,386,956$100Mtrimmed−6%−0.10 pp44 q
TGTTarget Corporation0.79%458,724$81Madded0%+0.10 pp44 q
CRMSalesforce, Inc.0.78%267,036$80Mtrimmed−4%+0.01 pp10 q
HDHome Depot, Inc.0.63%169,118$65Mtrimmed−5%−0.02 pp44 q
WKWorkiva Inc.0.62%757,234$64Mtrimmed−1%−0.20 pp34 q
BBYBest Buy Company, Inc.0.55%692,770$57Madded+30%+0.11 pp7 q
AXPAmerican Express Company0.52%234,619$53Mtrimmed−3%+0.04 pp44 q
CHRWC.H. Robinson Worldwide, Inc.0.51%692,273$53Madded+20%−0.02 pp44 q
PJCPiper Sandler Companies0.50%259,355$51Madded×2.1+0.27 pp5 q
DISThe Walt Disney Company0.45%380,098$47Mtrimmed−1%+0.09 pp44 q
CASYCasey's General Stores Inc0.42%137,774$44Madded×3.2+0.29 pp44 q
PIIPolaris Inc.0.35%365,653$37Mtrimmed−1%−0.02 pp13 q
TXNTexas Instruments Incorporated0.35%205,817$36Madded+12%+0.02 pp15 q
ULTAUlta Beauty, Inc.0.33%64,766$34Mnew+0.33 ppnew
PGProcter & Gamble Company0.30%189,666$31Madded+43%+0.10 pp44 q
ONBOld National Bancorp0.25%1,473,316$26Mtrimmed−8%−0.04 pp25 q
GNRCGenerac Holdings Inc0.24%200,237$25Mtrimmed−2%−0.04 pp41 q
ADPAutomatic Data Processing0.23%96,191$24Madded+12%+0.02 pp44 q
MMM3M Company0.23%222,958$24Mtrimmed−13%−0.07 pp44 q
BMIBadger Meter, Inc.0.21%133,552$22Mtrimmed−6%−0.02 pp44 q
HSYThe Hershey Company0.21%113,584$22Madded+17%+0.02 pp44 q
UPSUnited Parcel Service, Inc. Class B0.20%142,315$21Mtrimmed−26%−0.12 pp44 q
XELXcel Energy, Inc.0.19%364,380$20Madded+3%−0.04 pp44 q
TRVThe Travelers Companies, Inc.0.17%77,711$18Mtrimmed−0%+0.01 pp44 q
AZEKThe AZEK Company Inc.0.14%280,260$14Mtrimmed−27%−0.01 pp11 q
AIRAAR Corp.0.12%200,746$12Madded+9%0.00 pp24 q
ALTRAltair Engineering Inc. Class A0.12%138,788$12Mtrimmed−13%−0.02 pp8 q
HUBGHUB Group Inc0.12%296,669$13Madded+15%−0.01 pp44 q
INSPInspire Medical Systems, Inc.0.12%59,188$13Mtrimmed−8%−0.02 pp24 q
WTFCWintrust Financial Corp0.12%121,160$13Mtrimmed−20%−0.03 pp44 q
BRK.BBERKSHIRE HATHAWAY Class B0.11%26,464$11Madded+9%+0.02 pp44 q
CFRCullen/Frost Bankers Inc.0.11%98,227$11Mtrimmed−5%−0.01 pp31 q
THRMGentherm Inc0.11%191,342$11Mtrimmed−52%−0.11 pp42 q
JBTMJBT Marel Corporation0.11%112,147$12Madded+16%+0.01 pp9 q
MEDPMedpace Holdings, Inc.0.11%28,789$12Mtrimmed−8%+0.01 pp7 q
ASBAssociated Banc-Corp0.10%474,515$10Madded+19%+0.01 pp44 q
GISGeneral Mills, Inc.0.09%138,250$10Mtrimmed−7%−0.01 pp44 q
KNFKnife River Corporation0.09%109,285$9Madded+29%+0.03 pp2 q
MGPIMGP Ingredients Inc0.09%105,288$9Madded+30%+0.01 pp22 q
PLXSPlexus Corp0.09%99,187$9Madded+4%−0.02 pp16 q
QCRHQCR Holdings Inc0.09%157,728$10Madded+4%0.00 pp29 q
ABBVAbbvie Inc.0.08%43,632$8Mtrimmed−8%0.00 pp44 q
CLFDClearfield, Inc.0.08%259,166$8Madded+13%+0.01 pp6 q
EMREmerson Electric Co.0.08%71,283$8Mtrimmed−8%0.00 pp44 q
METAMeta Platforms, Inc. Class A0.08%17,049$8Madded×8.2+0.07 pp21 q
GBCIGlacier Bancorp Inc0.08%215,080$9Madded0%−0.01 pp31 q
JAMFJamf Holding Corp.0.08%446,002$8Mtrimmed−33%−0.05 pp15 q
NTRSNorthern Trust Corp0.08%94,071$8Mtrimmed−38%−0.05 pp9 q
PNRPentair plc0.08%91,412$8Mtrimmed−3%+0.01 pp40 q
BKHBlack Hills Corporation0.07%140,630$8Madded+9%0.00 pp29 q
MRKMerck & Co., Inc.0.07%57,017$8Mtrimmed−8%0.00 pp44 q
NWENorthWestern Energy Group, Inc.0.07%137,280$7Madded+10%0.00 pp19 q
CATCaterpillar Inc.0.06%17,435$6Mtrimmed−1%+0.01 pp44 q
OSKOshkosh Corp.0.06%50,485$6Mtrimmed−5%0.00 pp44 q
GOOGLAlphabet Inc. Class A0.05%32,447$5Mtrimmed−9%0.00 pp35 q
NEOGNeogen Corp0.05%344,493$5Madded+7%−0.02 pp7 q
PANWPalo Alto Networks, Inc.0.05%17,013$5Madded+13%0.00 pp5 q
SCHBSchwab U.S. Broad Market ETF0.05%89,300$5Madded+6%0.00 pp44 q
BRK.ABerkshire Hathaway Inc.0.04%6$4Mheld—43 q
CVXChevron Corporation0.04%24,355$4Mtrimmed−1%0.00 pp44 q
GLWCorning Incorporated0.04%125,460$4Mtrimmed−24%−0.01 pp44 q
MCDMcDonald's Corporation0.04%13,492$4Mtrimmed−3%0.00 pp44 q
PFEPfizer Inc.0.04%135,390$4Mtrimmed−23%−0.01 pp44 q
ALRSAlerus Financial Corporation0.03%124,294$3Mheld—10 q
AMPAmeriprise Financial, Inc.0.03%6,865$3Madded×3.6+0.02 pp43 q
BAXBaxter International Inc.0.03%80,324$3Mtrimmed−34%−0.02 pp44 q
CTASCintas Corp0.03%3,774$3Mtrimmed−1%+0.01 pp16 q
COPConocoPhillips0.03%25,200$3Madded+1%0.00 pp44 q
COSTCostco Wholesale Corp0.03%4,579$3Mtrimmed−7%0.00 pp44 q
XOMExxon Mobil Corp0.03%30,721$4Mtrimmed−2%0.00 pp44 q
IVViShares Core S&P 500 ETF0.03%6,235$3Mtrimmed−11%−0.01 pp44 q
ORCLOracle Corp0.03%26,034$3Madded0%0.00 pp44 q
SPYState Street SPDR S&P 500 ETF Trust0.03%5,531$3Mtrimmed−73%−0.07 pp44 q
AMGNAmgen Inc0.02%7,285$2Mtrimmed−2%0.00 pp44 q
BDXBecton, Dickinson and Co.0.02%7,749$2Mtrimmed−2%0.00 pp44 q
BMYBristol-Myers Squibb Co.0.02%46,497$3Mtrimmed−13%−0.01 pp44 q
CVRXCVRx, Inc.0.02%99,903$2Madded+9%−0.01 pp10 q
EXKExact Sciences Corp0.02%23,905$2Madded0%0.00 pp6 q
INTCIntel Corp0.02%44,388$2Mtrimmed−10%−0.01 pp44 q
QQQInvesco QQQ Trust, Series 10.02%3,631$2Mtrimmed−23%0.00 pp17 q
KMBKimberly-Clark Corp.0.02%12,614$2Mtrimmed−10%0.00 pp44 q
LOWLowe's Companies Inc.0.02%6,887$2Mtrimmed−1%0.00 pp44 q
MCSThe Marcus Corporation0.02%169,856$2Mtrimmed−12%−0.01 pp32 q
XLKState Street Technology Select Sector SPDR ETF0.02%8,449$2Madded+4%0.00 pp21 q
SKYTSkyWater Technology0.02%168,870$2Mtrimmed−25%0.00 pp12 q
SNASnap-on Incorporated0.02%5,530$2Mtrimmed−28%0.00 pp44 q
WYWeyerhaeuser Company0.02%46,945$2Madded+2%0.00 pp42 q
WWDWoodward, Inc.0.02%14,000$2Mheld—7 q
ZBHZimmer Biomet Holdings, Inc.0.02%16,500$2Mtrimmed−10%0.00 pp44 q
ADBEAdobe Inc.0.01%1,883$950,162added+1%0.00 pp34 q
AEBAAllete Inc0.01%10,838$646,378trimmed−11%0.00 pp44 q
AWKAmerican Water Works Company, Inc0.01%5,000$611,050held—7 q
AMATApplied Materials Inc0.01%7,477$2Mheld—29 q
BPBP p.l.c.0.01%14,850$559,548held—7 q
BACBank of America Corporation0.01%24,033$911,331trimmed−4%0.00 pp44 q
BMOBank of Montreal0.01%9,000$879,120held—7 q
BSXBoston Scientific Corp.0.01%10,469$717,022added+1%0.00 pp7 q
CSCOCisco Systems, Inc. (DE)0.01%19,043$950,436trimmed−5%0.00 pp44 q
CLFCleveland-Cliffs Inc.0.01%26,000$591,240held—4 q
KOCoca-Cola Company0.01%24,605$2Madded+1%−0.01 pp44 q
GEGE Aerospace0.01%6,821$1Mtrimmed−1%0.00 pp7 q
HOGHarley-Davidson, Inc.0.01%12,075$528,161trimmed−1%+0.01 pp7 q
HWKNHawkins Inc0.01%13,320$1Mheld—44 q
IEXIDEX Corporation0.01%4,000$976,080held—7 q
IDXXIdexx Laboratories Inc0.01%2,582$1Mtrimmed−7%−0.01 pp42 q
DVYiShares Select Dividend ETF0.01%6,645$818,536trimmed−20%0.00 pp3 q
MAMastercard Incorporated0.01%1,274$613,520added+2%0.00 pp26 q
MOSThe Mosaic Company0.01%39,000$1Mheld—7 q
NVECNVE Corp0.01%7,300$658,314held—7 q
NSCNorfolk Southern Corp.0.01%3,647$929,511trimmed−2%0.00 pp44 q
PDCOPatterson Companies, Inc.0.01%39,150$1Mtrimmed−8%0.00 pp44 q
PEPPepsiCo, Inc.0.01%8,664$2Mtrimmed−6%−0.01 pp44 q
PSXPhillips 660.01%7,400$1Mtrimmed−4%0.00 pp44 q
RTXRTX Corporation0.01%7,417$723,380trimmed−14%0.00 pp44 q
SHELShell plc0.01%13,920$933,197held—7 q
SLBSLB Limited0.01%14,575$798,856trimmed−0%0.00 pp7 q
SCHFSchwab International Equity ETF0.01%15,000$585,300held—44 q
SYKStryker Corporation0.01%4,000$1Mtrimmed−0%0.00 pp7 q
RGRSturm, Ruger & Company, Inc.0.01%12,000$553,800held—7 q
TMOThermo Fisher Scientific, Inc.0.01%1,541$895,645trimmed−6%0.00 pp41 q
UNPUnion Pacific Corp.0.01%5,734$1Mtrimmed−3%−0.01 pp32 q
UFCSUnited Fire Group Inc.0.01%24,000$522,480held—7 q
VIGVanguard Dividend Appreciation ETF0.01%2,957$539,978trimmed−24%0.00 pp29 q
VCELVericel Corporation0.01%25,915$1Mheld—19 q
WMTWalmart Inc.0.01%17,999$1Mtrimmed−13%0.00 pp44 q
AMCRAmcor plc0.01%154,385$1Mtrimmed−16%−0.01 pp20 q
CBChubb Limited0.01%3,019$782,313added+1%0.00 pp7 q
TAT&T Inc.0.00%18,384$323,558added+3%0.00 pp44 q
AMDAdvanced Micro Devices0.00%1,508$272,179trimmed−3%0.00 pp2 q
MOAltria Group, Inc.0.00%5,043$219,959added0%0.00 pp11 q
AMTAmerican Tower Corporation0.00%2,020$399,132trimmed−9%−0.01 pp25 q
ADSKAutodesk Inc0.00%800$208,336trimmed−3%0.00 pp2 q
AXGNAxogen, Inc.0.00%17,000$137,190held—19 q
BOHBank of Hawaii Corp.0.00%4,000$249,560held—2 q
BABoeing Company0.00%2,053$396,208trimmed−18%−0.01 pp44 q
BRCBrady Corporation0.00%7,000$414,960held—7 q
AVGOBroadcom Inc.0.00%273$362,167added+14%0.00 pp2 q
CMCanadian Imperial Bank of Commerce0.00%10,176$516,127held—7 q
CAHCardinal Health, Inc.0.00%2,197$245,844trimmed−2%0.00 pp2 q
CARRCarrier Global Corporation0.00%4,075$236,880added+3%0.00 pp3 q
CMGChipotle Mexican Grill, Inc.0.00%100$290,677held—2 q
CLColgate-Palmolive Company0.00%2,951$265,738trimmed−2%0.00 pp6 q
CMCSAComcast Corp0.00%6,823$295,777added+38%0.00 pp3 q
DAKTDaktronics Inc0.00%19,000$189,240held—7 q
DHRDanaher Corporation0.00%896$223,749trimmed−27%0.00 pp15 q
DEDeere & Company0.00%857$352,004held—15 q
DGIIDigi International Inc0.00%9,000$287,370trimmed−96%−0.07 pp23 q
FFord Motor Company0.00%15,600$207,168held—13 q
GPCGenuine Parts Company0.00%1,700$263,381held—13 q
DOCHealthpeak Properties, Inc.0.00%17,591$329,831new0.00 ppnew
HBANHuntington Bancshares Inc0.00%36,128$503,986trimmed−11%−0.01 pp12 q
ITWIllinois Tool Works Inc.0.00%1,729$463,943added+5%0.00 pp29 q
IBMInternational Business Machines Corporation0.00%1,117$213,302trimmed−14%0.00 pp2 q
IXNiShares Global Tech ETF0.00%3,150$235,652held—2 q
EFAiShares MSCI EAFE ETF0.00%2,792$222,969held—2 q
IWRiShares Russell Mid-Cap ETF0.00%2,385$200,555new0.00 ppnew
IWOiShares Russell 2000 Growth ETF0.00%932$252,386trimmed−40%0.00 pp3 q
IJRiShares Core S&P Small-Cap ETF0.00%1,946$215,072held—3 q
LMTLockheed Martin Corp.0.00%918$417,571trimmed−4%0.00 pp5 q
MSAMine Safety Incorporated0.00%1,510$292,321added+1%0.00 pp4 q
MPCMarathon Petroleum Corporation0.00%1,000$201,500new0.00 ppnew
MRSHMarsh0.00%2,178$448,624added+1%0.00 pp10 q
MDLZMondelez International, Inc. Class A0.00%3,671$256,970trimmed−2%0.00 pp6 q
MURMurphy Oil Corp.0.00%5,000$228,500held—3 q
NEMNewmont Corporation0.00%8,000$286,720held—7 q
NEENextEra Energy, Inc.0.00%4,014$256,535trimmed−2%0.00 pp44 q
NKENike, Inc.0.00%4,707$442,398added+1%−0.01 pp28 q
NMSNuveen Minnesota Quality Municipal Income Fund0.00%31,200$350,803held—38 q
PAYXPaychex Inc0.00%3,260$400,328trimmed−5%0.00 pp16 q
PMPhilip Morris International Inc.0.00%4,765$436,569added+1%0.00 pp44 q
PLUGPlug Power Inc.0.00%10,000$34,400new0.00 ppnew
SEICSEI Investments Co0.00%3,300$237,270held—2 q
SHYFThe Shyft Group, Inc.0.00%10,000$124,200held—14 q
SWBISmith & Wesson Brands, Inc.0.00%10,000$173,600held—7 q
SNAPSnap Inc.0.00%10,000$114,800held—4 q
SONSonoco Products Company0.00%5,000$289,200trimmed−1%0.00 pp7 q
SBUXStarbucks Corp0.00%3,182$290,832trimmed−41%−0.01 pp29 q
SU6Surmodics Inc0.00%10,000$293,400held—19 q
TJXTJX Companies, Inc. (The)0.00%2,759$279,818added+2%0.00 pp2 q
TSLATesla, Inc.0.00%1,554$273,178held—5 q
URIUnited Rentals, Inc.0.00%345$248,783trimmed−42%0.00 pp5 q
VUGVanguard Morningstar Growth ETF0.00%1,253$431,283trimmed−19%−0.01 pp5 q
VTIVanguard Morningstar Total Stock Market ETF0.00%828$215,197new0.00 ppnew
WECWEC Energy Group, Inc.0.00%4,000$328,480trimmed−5%0.00 pp36 q
WMWaste Management, Inc.0.00%1,000$213,150new0.00 ppnew
ZTSZoetis Inc.0.00%1,913$323,699trimmed−1%0.00 pp5 q
ALTMArcadium Lithium PLC0.00%13,925$60,017new0.00 ppnew
ACNAccenture PLC0.00%671$232,575trimmed−9%0.00 pp15 q
LINLinde plc0.00%515$239,125trimmed−2%0.00 pp2 q
TTTrane Technologies plc0.00%1,144$343,429held—5 q
CTLTCatalent, Inc.—−137,182—exited−0.06 pp—
42OPhysicians Realty Trust—−422,188—exited−0.06 pp—
XLVState Street Health Care Select Sector SPDR ETF—−19,483—exited−0.03 pp—
XLPState Street Consumer Staples Select Sector SPDR ETF—−44,420—exited−0.03 pp—
AMEAmetek, Inc.—−1,471—exited0.00 pp—
BIIBBiogen Inc.—−950—exited0.00 pp—
ELANElanco Animal Health Incorporated—−13,442—exited0.00 pp—
ETEnergy Transfer LP—−27,500—exited0.00 pp—
NVSNovartis AG—−2,024—exited0.00 pp—
JPCNuveen Preferred & Income Opportunities Fund—−26,999—exited0.00 pp—
RFRegions Financial Corp.—−15,000—exited0.00 pp—
XLUState Street Utilities Select Sector SPDR ETF—−6,685—exited0.00 pp—
VGTVanguard Information Technology ETF—−420—exited0.00 pp—

Source

Form
13F-HR
Reading
0 defects · 0 unresolved
Accession
0001172661-24-002334
Options
none in this filing
Notes
none in this filing
SEC cross-check
SEC data set not published yet