Mairs & Power

Q3 2024 13F · by Andrew Adams, CIO

As of: Sep 30, 2024
Filed: Nov 14, 2024
US stock: $10.6B · prev $10.3B
Positions: 228 · prev 222
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%

Moves197 since the prior filing

+3.7 pp in · −3.7 pp out

New 13 +0.29 pp
Added 56 +3.39 pp
Trimmed 121 −3.68 pp
Exited 7 0.00 pp

The book

Focused · behaves like 33 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 9.1% a year, about 10.9 years per position

Low
Moderate
High

Top 5 positions28% of US stock

MSFT Microsoft Corp trimmed−0.54 pp trimmed−0.547.9%
NVDA Nvidia Corp trimmed−0.48 pp trimmed−0.486.9%
UNH UNITEDHEALTH GROUP INCORPORATED (Delaware) added+0.74 pp added+0.744.9%
GOOG Alphabet Inc. Class C trimmed−0.68 pp trimmed−0.684.3%
AMZN Amazon.Com Inc added−0.25 pp added−0.254.1%

Positions228 in this filing · 7 exited


MSFTMicrosoft Corp	7.91%	1,955,215	$841M	trimmed−0%	−0.54 pp	46 q
NVDANvidia Corp	6.90%	6,037,090	$733M	trimmed−2%	−0.48 pp	22 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	4.90%	891,662	$521M	added+6%	+0.74 pp	46 q
GOOGAlphabet Inc. Class C	4.31%	2,743,465	$459M	trimmed−3%	−0.68 pp	42 q
AMZNAmazon.Com Inc	4.14%	2,362,983	$440M	added+1%	−0.25 pp	44 q
JPMJPMorgan Chase & Co.	3.41%	1,720,372	$363M	trimmed−0%	+0.04 pp	46 q
GGGGraco Inc	3.24%	3,931,980	$344M	added+5%	+0.36 pp	46 q
FISVFiserv, Inc.	3.20%	1,893,636	$340M	added0%	+0.48 pp	46 q
AAPLApple Inc.	2.95%	1,347,213	$314M	added+3%	+0.30 pp	46 q
LLYEli Lilly & Co.	2.85%	341,961	$303M	trimmed−2%	−0.21 pp	46 q
TTCToro Company (The)	2.80%	3,431,184	$298M	added+6%	−0.13 pp	46 q
LNTAlliant Energy Corporation	2.34%	4,095,219	$249M	added+7%	+0.46 pp	44 q
LFUSLittelfuse Inc	2.15%	860,984	$228M	added+1%	+0.05 pp	27 q
QCOMQualcomm Inc	2.09%	1,305,186	$222M	added0%	−0.41 pp	46 q
MSIMotorola Solutions, Inc. New	2.07%	488,752	$220M	trimmed−1%	+0.22 pp	25 q
VVISA Inc.	2.04%	788,803	$217M	added+15%	+0.30 pp	46 q
TECHBio-Techne Corp.	2.03%	2,696,796	$216M	trimmed−2%	+0.13 pp	41 q
VZVerizon Communications	2.02%	4,789,419	$215M	added+4%	+0.19 pp	46 q
USBU.S. Bancorp	1.96%	4,553,141	$208M	trimmed−12%	−0.02 pp	46 q
ECLEcolab, Inc.	1.91%	794,679	$203M	trimmed−5%	−0.01 pp	46 q
FASTFastenal Co	1.84%	2,731,930	$195M	added+3%	+0.22 pp	46 q
SHWThe Sherwin-Williams Company	1.73%	482,545	$184M	added+5%	+0.40 pp	23 q
JNJJohnson & Johnson	1.70%	1,116,680	$181M	trimmed−6%	+0.03 pp	46 q
MDTMedtronic plc	1.67%	1,969,468	$177M	trimmed−33%	−0.57 pp	40 q
FULH.B. Fuller Company	1.64%	2,197,999	$174M	added+1%	+0.02 pp	46 q
NVTnVent Electric plc	1.58%	2,384,560	$168M	trimmed−1%	−0.21 pp	26 q
HRLHormel Foods Corporation	1.51%	5,047,678	$160M	trimmed−1%	+0.01 pp	46 q
WFCWells Fargo & Co.	1.23%	2,323,231	$131M	trimmed−3%	−0.15 pp	46 q
TNCTennant Company	1.21%	1,336,082	$128M	added+12%	+0.07 pp	46 q
ABTAbbott Laboratories	1.16%	1,085,429	$124M	trimmed−1%	+0.06 pp	46 q
ENTGEntegris Inc	1.10%	1,043,732	$117M	added+12%	−0.12 pp	12 q
ROKRockwell Automation, Inc.	1.05%	414,348	$111M	added+3%	−0.02 pp	21 q
DCIDonaldson Company, Inc.	0.95%	1,371,962	$101M	trimmed−8%	−0.09 pp	46 q
CHRWC.H. Robinson Worldwide, Inc.	0.87%	834,948	$92M	added+23%	+0.29 pp	46 q
HONHoneywell International, Inc.	0.83%	429,325	$89M	trimmed−30%	−0.44 pp	46 q
SCHWThe Charles Schwab Corporation	0.74%	1,218,283	$79M	trimmed−11%	−0.23 pp	46 q
BBYBest Buy Company, Inc.	0.73%	746,230	$77M	added0%	+0.12 pp	9 q
PFGPrincipal Financial Group, Inc.	0.70%	869,978	$75M	trimmed−28%	−0.22 pp	46 q
TGTTarget Corporation	0.67%	454,170	$71M	trimmed−0%	+0.02 pp	46 q
PJCPiper Sandler Companies	0.66%	245,828	$70M	trimmed−6%	+0.08 pp	7 q
CRMSalesforce, Inc.	0.63%	242,964	$67M	trimmed−5%	−0.01 pp	12 q
HDHome Depot, Inc.	0.62%	162,972	$66M	trimmed−0%	+0.08 pp	46 q
WKWorkiva Inc.	0.62%	835,086	$66M	added+7%	+0.07 pp	36 q
AXPAmerican Express Company	0.56%	218,028	$59M	trimmed−4%	+0.05 pp	46 q
SYYSysco Corporation	0.55%	743,076	$58M	trimmed−34%	−0.23 pp	45 q
CASYCasey's General Stores Inc	0.49%	138,399	$52M	trimmed−4%	−0.04 pp	46 q
TXNTexas Instruments Incorporated	0.44%	226,480	$47M	added+3%	+0.03 pp	17 q
DISThe Walt Disney Company	0.31%	337,812	$32M	trimmed−5%	−0.03 pp	46 q
ADPAutomatic Data Processing	0.28%	108,530	$30M	added+2%	+0.03 pp	46 q
GNRCGenerac Holdings Inc	0.27%	182,915	$29M	trimmed−4%	+0.03 pp	43 q
KHCThe Kraft Heinz Company	0.27%	831,775	$29M	new	+0.27 pp	new
PGProcter & Gamble Company	0.27%	168,542	$29M	trimmed−7%	−0.02 pp	46 q
MMM3M Company	0.27%	209,277	$29M	trimmed−3%	+0.06 pp	46 q
ULTAUlta Beauty, Inc.	0.27%	73,484	$29M	added+1%	0.00 pp	3 q
BMIBadger Meter, Inc.	0.26%	124,414	$27M	trimmed−3%	+0.03 pp	46 q
XELXcel Energy, Inc.	0.23%	369,970	$24M	added+3%	+0.04 pp	46 q
HSYThe Hershey Company	0.19%	104,994	$20M	trimmed−2%	0.00 pp	46 q
ONBOld National Bancorp	0.17%	992,316	$19M	trimmed−33%	−0.07 pp	27 q
TRVThe Travelers Companies, Inc.	0.17%	77,455	$18M	trimmed−2%	+0.01 pp	46 q
AZEKThe AZEK Company Inc.	0.13%	284,710	$13M	added+9%	+0.02 pp	13 q
AIRAAR Corp.	0.12%	188,024	$12M	added+6%	−0.01 pp	26 q
AMPAmeriprise Financial, Inc.	0.12%	27,690	$13M	added+34%	+0.03 pp	45 q
METAMeta Platforms, Inc. Class A	0.12%	22,213	$13M	added+3%	+0.01 pp	23 q
HUBGHUB Group Inc	0.12%	283,434	$13M	trimmed−3%	0.00 pp	46 q
INSPInspire Medical Systems, Inc.	0.12%	61,173	$13M	trimmed−4%	+0.04 pp	26 q
JBTMJBT Marel Corporation	0.12%	133,282	$13M	added+9%	+0.01 pp	11 q
ALTRAltair Engineering Inc. Class A	0.11%	127,394	$12M	trimmed−3%	−0.01 pp	10 q
BRK.BBERKSHIRE HATHAWAY Class B	0.11%	25,047	$12M	trimmed−5%	+0.01 pp	46 q
CLFDClearfield, Inc.	0.11%	290,106	$11M	added+3%	+0.01 pp	8 q
KNFKnife River Corporation	0.11%	127,005	$11M	added+7%	+0.03 pp	4 q
PLXSPlexus Corp	0.11%	88,745	$12M	trimmed−11%	+0.01 pp	18 q
MGPIMGP Ingredients Inc	0.10%	133,978	$11M	added+3%	+0.01 pp	24 q
UPSUnited Parcel Service, Inc. Class B	0.10%	81,144	$11M	trimmed−26%	−0.05 pp	46 q
ABBVAbbvie Inc.	0.09%	46,746	$9M	added+1%	+0.01 pp	46 q
GISGeneral Mills, Inc.	0.09%	125,826	$9M	trimmed−5%	+0.01 pp	46 q
MEDPMedpace Holdings, Inc.	0.09%	29,762	$10M	added+3%	−0.02 pp	9 q
WTFCWintrust Financial Corp	0.09%	86,175	$9M	trimmed−14%	−0.01 pp	46 q
BKHBlack Hills Corporation	0.08%	140,420	$9M	trimmed−0%	+0.01 pp	31 q
CFRCullen/Frost Bankers Inc.	0.08%	73,771	$8M	trimmed−15%	−0.01 pp	33 q
THRMGentherm Inc	0.08%	187,818	$9M	added+2%	−0.01 pp	44 q
QCRHQCR Holdings Inc	0.08%	120,003	$9M	trimmed−12%	0.00 pp	31 q
ASBAssociated Banc-Corp	0.07%	368,955	$8M	trimmed−12%	−0.02 pp	46 q
EMREmerson Electric Co.	0.07%	65,728	$7M	trimmed−4%	0.00 pp	46 q
GBCIGlacier Bancorp Inc	0.07%	151,955	$7M	trimmed−22%	0.00 pp	33 q
JAMFJamf Holding Corp.	0.07%	403,456	$7M	trimmed−2%	0.00 pp	17 q
NEOGNeogen Corp	0.07%	458,391	$8M	added+17%	+0.01 pp	9 q
NWENorthWestern Energy Group, Inc.	0.07%	137,075	$8M	trimmed−0%	0.00 pp	21 q
CATCaterpillar Inc.	0.06%	16,578	$6M	trimmed−3%	+0.01 pp	46 q
MRKMerck & Co., Inc.	0.06%	53,387	$6M	trimmed−3%	−0.01 pp	46 q
PIIPolaris Inc.	0.06%	78,739	$7M	trimmed−78%	−0.21 pp	15 q
PNRPentair plc	0.06%	67,585	$7M	trimmed−7%	+0.01 pp	42 q
GOOGLAlphabet Inc. Class A	0.05%	28,968	$5M	trimmed−6%	0.00 pp	37 q
MCDMcDonald's Corporation	0.05%	16,215	$5M	trimmed−1%	+0.01 pp	46 q
OSKOshkosh Corp.	0.05%	50,280	$5M	trimmed−0%	0.00 pp	46 q
PANWPalo Alto Networks, Inc.	0.05%	15,536	$5M	trimmed−10%	−0.01 pp	7 q
SPYState Street SPDR S&P 500 ETF Trust	0.05%	9,388	$5M	added+6%	0.00 pp	46 q
SCHBSchwab U.S. Broad Market ETF	0.05%	87,082	$6M	trimmed−1%	0.00 pp	46 q
BRK.ABerkshire Hathaway Inc.	0.04%	6	$4M	held	—	45 q
GLWCorning Incorporated	0.04%	99,186	$4M	trimmed−7%	0.00 pp	46 q
XOMExxon Mobil Corp	0.04%	32,571	$4M	trimmed−10%	0.00 pp	46 q
CVXChevron Corporation	0.03%	21,820	$3M	trimmed−3%	0.00 pp	46 q
CTASCintas Corp	0.03%	14,520	$3M	trimmed−4%	0.00 pp	18 q
COPConocoPhillips	0.03%	26,538	$3M	trimmed−1%	0.00 pp	46 q
COSTCostco Wholesale Corp	0.03%	3,097	$3M	trimmed−17%	0.00 pp	46 q
EXKExact Sciences Corp	0.03%	43,710	$3M	added+13%	+0.01 pp	8 q
IVViShares Core S&P 500 ETF	0.03%	4,881	$3M	trimmed−15%	0.00 pp	46 q
PFEPfizer Inc.	0.03%	103,202	$3M	trimmed−8%	0.00 pp	46 q
SOLVSolventum Corporation	0.03%	39,354	$3M	trimmed−12%	+0.01 pp	2 q
ALRSAlerus Financial Corporation	0.02%	97,729	$2M	trimmed−0%	0.00 pp	12 q
AMGNAmgen Inc	0.02%	5,948	$2M	trimmed−0%	0.00 pp	46 q
BAXBaxter International Inc.	0.02%	48,767	$2M	trimmed−20%	0.00 pp	46 q
BDXBecton, Dickinson and Co.	0.02%	7,749	$2M	held	—	46 q
HWKNHawkins Inc	0.02%	13,320	$2M	held	—	46 q
LTHLife Time Group Holdings, Inc.	0.02%	66,580	$2M	new	+0.02 pp	new
LOWLowe's Companies Inc.	0.02%	6,880	$2M	added+2%	+0.01 pp	46 q
ORCLOracle Corp	0.02%	12,735	$2M	trimmed−3%	0.00 pp	46 q
SYKStryker Corporation	0.02%	5,275	$2M	added+32%	+0.01 pp	9 q
WWDWoodward, Inc.	0.02%	14,000	$2M	held	—	9 q
ZBHZimmer Biomet Holdings, Inc.	0.02%	15,700	$2M	trimmed−4%	0.00 pp	46 q
ADBEAdobe Inc.	0.01%	1,950	$1M	added+2%	0.00 pp	36 q
AEBAAllete Inc	0.01%	9,688	$621,873	trimmed−6%	0.00 pp	46 q
AWKAmerican Water Works Company, Inc	0.01%	5,333	$779,898	added+7%	0.00 pp	9 q
AMATApplied Materials Inc	0.01%	7,477	$2M	held	—	31 q
BACBank of America Corporation	0.01%	23,432	$929,782	trimmed−1%	0.00 pp	46 q
BMOBank of Montreal	0.01%	7,846	$707,709	trimmed−13%	0.00 pp	9 q
BSXBoston Scientific Corp.	0.01%	10,311	$864,062	added0%	0.00 pp	9 q
BRCBrady Corporation	0.01%	7,000	$536,410	held	—	9 q
BMYBristol-Myers Squibb Co.	0.01%	25,982	$1M	trimmed−12%	0.00 pp	46 q
AVGOBroadcom Inc.	0.01%	3,300	$569,250	added+7%	+0.01 pp	4 q
CVRXCVRx, Inc.	0.01%	144,361	$1M	added+3%	−0.01 pp	12 q
CMCanadian Imperial Bank of Commerce	0.01%	10,176	$624,196	held	—	9 q
CSCOCisco Systems, Inc. (DE)	0.01%	17,389	$925,443	trimmed−5%	0.00 pp	46 q
KOCoca-Cola Company	0.01%	19,315	$1M	trimmed−16%	0.00 pp	46 q
GEGE Aerospace	0.01%	7,714	$1M	trimmed−1%	0.00 pp	9 q
IEXIDEX Corporation	0.01%	4,000	$858,000	held	—	9 q
IDXXIdexx Laboratories Inc	0.01%	2,502	$1M	held	—	44 q
QQQInvesco QQQ Trust, Series 1	0.01%	1,919	$936,606	held	—	19 q
DVYiShares Select Dividend ETF	0.01%	4,280	$578,105	trimmed−36%	0.00 pp	5 q
KMBKimberly-Clark Corp.	0.01%	10,834	$2M	trimmed−10%	−0.01 pp	46 q
MOSThe Mosaic Company	0.01%	39,000	$1M	held	—	9 q
NVECNVE Corp	0.01%	7,300	$583,051	held	—	9 q
NEENextEra Energy, Inc.	0.01%	10,040	$848,681	held	—	46 q
NSCNorfolk Southern Corp.	0.01%	2,997	$744,755	trimmed−2%	0.00 pp	46 q
PDCOPatterson Companies, Inc.	0.01%	28,850	$630,084	trimmed−26%	0.00 pp	46 q
PEPPepsiCo, Inc.	0.01%	7,700	$1M	trimmed−3%	0.00 pp	46 q
PSXPhillips 66	0.01%	6,550	$860,998	trimmed−11%	0.00 pp	46 q
RTXRTX Corporation	0.01%	8,652	$1M	trimmed−4%	0.00 pp	46 q
SHELShell plc	0.01%	11,604	$765,284	trimmed−17%	0.00 pp	9 q
SCHFSchwab International Equity ETF	0.01%	15,000	$616,800	held	—	46 q
XLKState Street Technology Select Sector SPDR ETF	0.01%	6,144	$1M	trimmed−23%	−0.01 pp	23 q
SKYTSkyWater Technology	0.01%	168,615	$2M	trimmed−0%	0.00 pp	14 q
SNASnap-on Incorporated	0.01%	4,270	$1M	trimmed−2%	0.00 pp	46 q
TMOThermo Fisher Scientific, Inc.	0.01%	1,665	$1M	trimmed−8%	0.00 pp	43 q
UNPUnion Pacific Corp.	0.01%	5,083	$1M	trimmed−8%	0.00 pp	34 q
VIGVanguard Dividend Appreciation ETF	0.01%	3,605	$714,006	added+38%	+0.01 pp	31 q
VCELVericel Corporation	0.01%	25,915	$1M	held	—	21 q
WMTWalmart Inc.	0.01%	12,948	$1M	trimmed−5%	0.00 pp	46 q
WYWeyerhaeuser Company	0.01%	45,945	$2M	held	—	44 q
AMCRAmcor plc	0.01%	120,890	$1M	trimmed−22%	0.00 pp	22 q
TTTrane Technologies plc	0.01%	1,834	$712,931	added+62%	+0.01 pp	7 q
CBChubb Limited	0.01%	2,343	$675,698	added+1%	0.00 pp	9 q
TAT&T Inc.	0.00%	13,533	$297,726	trimmed−27%	0.00 pp	46 q
AMDAdvanced Micro Devices	0.00%	1,673	$274,506	held	—	4 q
APDAir Products & Chemicals, Inc.	0.00%	1,250	$372,175	new	0.00 pp	new
OKLOOklo Inc.	0.00%	14,000	$113,260	new	0.00 pp	new
MOAltria Group, Inc.	0.00%	5,048	$257,665	added0%	0.00 pp	13 q
AMTAmerican Tower Corporation	0.00%	2,020	$469,771	held	—	27 q
ADSKAutodesk Inc	0.00%	800	$220,384	new	0.00 pp	new
AVYAvery Dennison Corp.	0.00%	2,000	$441,520	new	0.00 pp	new
AXGNAxogen, Inc.	0.00%	17,000	$238,340	held	—	21 q
BPBP p.l.c.	0.00%	6,500	$204,035	trimmed−56%	−0.01 pp	9 q
BOHBank of Hawaii Corp.	0.00%	4,000	$251,080	held	—	4 q
BABoeing Company	0.00%	2,125	$323,085	trimmed−6%	0.00 pp	46 q
BRBroadridge Financial Solutions Inc	0.00%	1,350	$290,291	new	0.00 pp	new
CAHCardinal Health, Inc.	0.00%	2,197	$242,812	held	—	4 q
CARRCarrier Global Corporation	0.00%	3,867	$311,255	held	—	5 q
CMGChipotle Mexican Grill, Inc.	0.00%	3,660	$210,889	trimmed−27%	0.00 pp	4 q
CLFCleveland-Cliffs Inc.	0.00%	19,000	$242,630	trimmed−5%	0.00 pp	6 q
CLColgate-Palmolive Company	0.00%	2,686	$278,834	added+21%	0.00 pp	8 q
CMCSAComcast Corp	0.00%	5,392	$225,224	trimmed−3%	0.00 pp	5 q
DHRDanaher Corporation	0.00%	753	$209,349	trimmed−15%	0.00 pp	17 q
DEDeere & Company	0.00%	702	$292,966	trimmed−5%	0.00 pp	17 q
DGIIDigi International Inc	0.00%	9,000	$247,770	held	—	25 q
AJGArthur J. Gallagher & Co.	0.00%	1,500	$422,055	new	0.00 pp	new
GEVGE Vernova Inc.	0.00%	952	$242,741	trimmed−51%	0.00 pp	2 q
GPCGenuine Parts Company	0.00%	1,575	$219,996	held	—	15 q
HPQHP Inc.	0.00%	5,954	$213,570	added+2%	0.00 pp	2 q
HOGHarley-Davidson, Inc.	0.00%	7,000	$269,710	held	—	9 q
HBANHuntington Bancshares Inc	0.00%	36,128	$531,082	held	—	14 q
ITWIllinois Tool Works Inc.	0.00%	1,699	$445,257	held	—	31 q
INTCIntel Corp	0.00%	14,623	$343,056	trimmed−59%	−0.01 pp	46 q
IBMInternational Business Machines Corporation	0.00%	1,017	$224,838	new	0.00 pp	new
IXNiShares Global Tech ETF	0.00%	3,150	$259,970	held	—	4 q
EFAiShares MSCI EAFE ETF	0.00%	2,792	$233,495	held	—	4 q
IWOiShares Russell 2000 Growth ETF	0.00%	717	$203,628	trimmed−23%	0.00 pp	5 q
IJRiShares Core S&P Small-Cap ETF	0.00%	3,008	$351,816	trimmed−10%	0.00 pp	5 q
LMTLockheed Martin Corp.	0.00%	888	$519,089	added+12%	0.00 pp	7 q
MSAMine Safety Incorporated	0.00%	1,470	$260,690	held	—	6 q
MRSHMarsh	0.00%	1,374	$306,526	added+3%	0.00 pp	12 q
MAMastercard Incorporated	0.00%	952	$470,098	added+3%	0.00 pp	28 q
MDLZMondelez International, Inc. Class A	0.00%	3,113	$229,335	trimmed−8%	0.00 pp	8 q
NEMNewmont Corporation	0.00%	5,000	$267,250	trimmed−38%	0.00 pp	9 q
NKENike, Inc.	0.00%	3,640	$321,776	trimmed−15%	0.00 pp	30 q
NTRSNorthern Trust Corp	0.00%	4,955	$446,099	trimmed−61%	−0.01 pp	11 q
OTISOtis Worldwide Corporation	0.00%	1,928	$200,396	new	0.00 pp	new
PMPhilip Morris International Inc.	0.00%	2,800	$339,920	held	—	46 q
PLUGPlug Power Inc.	0.00%	10,000	$22,600	held	—	3 q
RFRegions Financial Corp.	0.00%	9,740	$227,234	trimmed−4%	0.00 pp	2 q
RSGRepublic Services Inc.	0.00%	2,100	$421,764	new	0.00 pp	new
ROSTRoss Stores Inc	0.00%	1,513	$227,722	new	0.00 pp	new
SEICSEI Investments Co	0.00%	3,300	$228,327	held	—	4 q
MDYState Street SPDR S&P MIDCAP 400 ETF Trust	0.00%	835	$475,666	trimmed−15%	−0.01 pp	2 q
SLBSLB Limited	0.00%	5,500	$230,725	trimmed−59%	−0.01 pp	9 q
SHYFThe Shyft Group, Inc.	0.00%	10,000	$125,500	held	—	16 q
RGRSturm, Ruger & Company, Inc.	0.00%	12,000	$500,160	held	—	9 q
SU6Surmodics Inc	0.00%	7,626	$295,736	trimmed−24%	0.00 pp	21 q
TJXTJX Companies, Inc. (The)	0.00%	2,841	$333,931	added+3%	0.00 pp	4 q
UFCSUnited Fire Group Inc.	0.00%	14,108	$295,280	trimmed−41%	0.00 pp	9 q
VONEVanguard Russell 1000 ETF	0.00%	1,993	$518,320	new	0.00 pp	new
VOVanguard Morningstar Mid-Cap ETF	0.00%	1,378	$363,558	trimmed−5%	0.00 pp	2 q
VVVanguard Morningstar Large-Cap ETF	0.00%	827	$217,741	held	—	2 q
VUGVanguard Morningstar Growth ETF	0.00%	1,128	$433,073	held	—	7 q
VTIVanguard Morningstar Total Stock Market ETF	0.00%	842	$238,441	trimmed−10%	0.00 pp	3 q
WECWEC Energy Group, Inc.	0.00%	4,100	$394,338	trimmed−2%	0.00 pp	38 q
WMWaste Management, Inc.	0.00%	1,038	$215,489	trimmed−7%	0.00 pp	3 q
ZTSZoetis Inc.	0.00%	1,540	$300,885	trimmed−19%	0.00 pp	7 q
ALTMArcadium Lithium PLC	0.00%	13,925	$39,686	held	—	3 q
ACNAccenture PLC	0.00%	774	$273,594	added+15%	0.00 pp	17 q
DOCHealthpeak Properties, Inc.	—	−17,663	—	exited	0.00 pp	—
MURMurphy Oil Corp.	—	−5,000	—	exited	0.00 pp	—
PAYXPaychex Inc	—	−3,015	—	exited	0.00 pp	—
SWBISmith & Wesson Brands, Inc.	—	−10,000	—	exited	0.00 pp	—
SONSonoco Products Company	—	−5,000	—	exited	0.00 pp	—
SBUXStarbucks Corp	—	−2,899	—	exited	0.00 pp	—
LINLinde plc	—	−515	—	exited	0.00 pp	—