Mairs & Power

Q1 2025 13F · by Andrew Adams, CIO

As of: Mar 31, 2025
Filed: May 15, 2025
US stock: $9.6B · prev $10.3B
Positions: 221 · prev 229
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%

Moves196 since the prior filing

+2.4 pp in · −2.3 pp out

New 8 +0.72 pp
Added 54 +1.67 pp
Trimmed 118 −2.30 pp
Exited 16 −0.01 pp

The book

Focused · behaves like 33 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 11% a year, about 8.9 years per position

Low
Moderate
High

Top 5 positions28% of US stock

MSFT Microsoft Corp added−0.23 pp added−0.237.8%
NVDA Nvidia Corp trimmed−1.10 pp trimmed−1.106.5%
UNH UNITEDHEALTH GROUP INCORPORATED (Delaware) added+0.69 pp added+0.694.9%
AMZN Amazon.Com Inc added−0.27 pp added−0.274.8%
JPM JPMorgan Chase & Co. trimmed+0.26 pp trimmed+0.264.2%

Positions221 in this filing · 16 exited


MSFTMicrosoft Corp	7.80%	1,996,217	$749M	added+1%	−0.23 pp	48 q
NVDANvidia Corp	6.54%	5,801,914	$629M	trimmed−1%	−1.10 pp	24 q
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	4.94%	906,654	$475M	added+4%	+0.69 pp	48 q
AMZNAmazon.Com Inc	4.75%	2,397,617	$456M	added+1%	−0.27 pp	46 q
JPMJPMorgan Chase & Co.	4.24%	1,662,770	$408M	trimmed−3%	+0.26 pp	48 q
FISVFiserv, Inc.	3.95%	1,717,557	$379M	trimmed−8%	+0.23 pp	48 q
GGGGraco Inc	3.41%	3,924,283	$328M	trimmed−1%	+0.18 pp	48 q
GOOGAlphabet Inc. Class C	3.33%	2,048,093	$320M	trimmed−6%	−0.68 pp	44 q
AAPLApple Inc.	3.13%	1,355,592	$301M	added0%	−0.15 pp	48 q
LLYEli Lilly & Co.	3.13%	364,793	$301M	added+8%	+0.60 pp	48 q
VVISA Inc.	3.01%	824,113	$289M	trimmed−1%	+0.46 pp	48 q
TTCToro Company (The)	2.76%	3,651,436	$266M	added+2%	−0.02 pp	48 q
MSIMotorola Solutions, Inc. New	2.18%	477,605	$209M	trimmed−1%	+0.01 pp	27 q
FASTFastenal Co	2.17%	2,689,855	$209M	trimmed−1%	+0.29 pp	48 q
LNTAlliant Energy Corporation	2.04%	3,044,638	$196M	trimmed−22%	−0.20 pp	46 q
ECLEcolab, Inc.	2.04%	773,186	$196M	trimmed−1%	+0.26 pp	48 q
LFUSLittelfuse Inc	1.81%	883,427	$174M	added+1%	−0.19 pp	29 q
JNJJohnson & Johnson	1.72%	999,021	$166M	trimmed−3%	+0.29 pp	48 q
SHWThe Sherwin-Williams Company	1.71%	471,331	$165M	trimmed−2%	+0.13 pp	25 q
WFCWells Fargo & Co.	1.63%	2,184,792	$157M	trimmed−5%	+0.06 pp	48 q
TECHBio-Techne Corp.	1.62%	2,651,793	$155M	trimmed−1%	−0.24 pp	43 q
VZVerizon Communications	1.62%	3,428,852	$156M	trimmed−1%	+0.29 pp	48 q
WECWEC Energy Group, Inc.	1.58%	1,389,081	$151M	added+82%	+0.89 pp	40 q
QCOMQualcomm Inc	1.52%	949,922	$146M	trimmed−28%	−0.44 pp	48 q
FULH.B. Fuller Company	1.43%	2,440,392	$137M	added+10%	−0.01 pp	48 q
ABTAbbott Laboratories	1.40%	1,016,988	$135M	trimmed−6%	+0.22 pp	48 q
HRLHormel Foods Corporation	1.38%	4,271,793	$132M	added0%	+0.09 pp	48 q
NVTnVent Electric plc	1.28%	2,352,460	$123M	trimmed−0%	−0.28 pp	28 q
TNCTennant Company	1.18%	1,421,410	$113M	added0%	+0.06 pp	48 q
ROKRockwell Automation, Inc.	1.13%	418,461	$108M	trimmed−0%	−0.03 pp	23 q
CHRWC.H. Robinson Worldwide, Inc.	0.92%	865,898	$89M	added+1%	+0.07 pp	48 q
USBU.S. Bancorp	0.91%	2,067,615	$87M	trimmed−51%	−1.04 pp	48 q
ENTGEntegris Inc	0.85%	938,193	$82M	trimmed−0%	−0.05 pp	14 q
DCIDonaldson Company, Inc.	0.78%	1,120,149	$75M	trimmed−14%	−0.07 pp	48 q
KHCThe Kraft Heinz Company	0.75%	2,372,182	$72M	added+71%	+0.34 pp	3 q
CRMSalesforce, Inc.	0.71%	254,855	$68M	added+6%	−0.07 pp	14 q
PFGPrincipal Financial Group, Inc.	0.70%	791,944	$67M	trimmed−4%	+0.08 pp	48 q
TSMTaiwan Semiconductor Manufacturing Company Ltd.	0.69%	397,657	$66M	new	+0.69 pp	new
HONHoneywell International, Inc.	0.68%	308,951	$65M	trimmed−13%	−0.10 pp	48 q
PJCPiper Sandler Companies	0.63%	244,607	$61M	added+1%	−0.07 pp	9 q
CASYCasey's General Stores Inc	0.61%	134,486	$58M	trimmed−2%	+0.08 pp	48 q
HDHome Depot, Inc.	0.59%	154,687	$57M	trimmed−4%	−0.02 pp	48 q
BBYBest Buy Company, Inc.	0.58%	751,028	$55M	added+1%	−0.04 pp	11 q
WKWorkiva Inc.	0.58%	738,824	$56M	added+1%	−0.20 pp	38 q
AXPAmerican Express Company	0.54%	193,117	$52M	trimmed−8%	−0.07 pp	48 q
MDTMedtronic plc	0.50%	538,183	$48M	trimmed−31%	−0.10 pp	42 q
TGTTarget Corporation	0.46%	423,125	$44M	trimmed−5%	−0.12 pp	48 q
TXNTexas Instruments Incorporated	0.43%	228,037	$41M	trimmed−1%	+0.01 pp	19 q
SCHWThe Charles Schwab Corporation	0.41%	507,197	$40M	trimmed−54%	−0.38 pp	48 q
ADPAutomatic Data Processing	0.34%	108,160	$33M	trimmed−0%	+0.03 pp	48 q
DISThe Walt Disney Company	0.32%	314,821	$31M	trimmed−4%	−0.03 pp	48 q
MMM3M Company	0.30%	198,112	$29M	trimmed−1%	+0.05 pp	48 q
PGProcter & Gamble Company	0.29%	161,279	$27M	trimmed−6%	+0.01 pp	48 q
ULTAUlta Beauty, Inc.	0.28%	72,148	$26M	added+1%	−0.02 pp	5 q
XELXcel Energy, Inc.	0.28%	374,314	$26M	trimmed−0%	+0.03 pp	48 q
CLFDClearfield, Inc.	0.26%	852,220	$25M	added×2.0	+0.13 pp	10 q
SYYSysco Corporation	0.26%	328,741	$25M	trimmed−20%	−0.04 pp	47 q
BMIBadger Meter, Inc.	0.23%	115,890	$22M	trimmed−5%	−0.02 pp	48 q
GNRCGenerac Holdings Inc	0.20%	153,397	$19M	trimmed−9%	−0.05 pp	45 q
ONBOld National Bancorp	0.19%	846,566	$18M	trimmed−11%	−0.01 pp	29 q
TRVThe Travelers Companies, Inc.	0.19%	69,593	$18M	trimmed−6%	+0.02 pp	48 q
METAMeta Platforms, Inc. Class A	0.15%	25,507	$15M	trimmed−3%	0.00 pp	25 q
AMPAmeriprise Financial, Inc.	0.14%	27,633	$13M	trimmed−2%	−0.01 pp	47 q
BRK.BBERKSHIRE HATHAWAY Class B	0.14%	24,604	$13M	trimmed−5%	+0.03 pp	48 q
AZEKThe AZEK Company Inc.	0.13%	252,086	$12M	trimmed−11%	0.00 pp	15 q
JBTMJBT Marel Corporation	0.13%	99,128	$12M	trimmed−24%	−0.03 pp	13 q
HSYThe Hershey Company	0.12%	67,845	$12M	trimmed−13%	−0.01 pp	48 q
INSPInspire Medical Systems, Inc.	0.12%	70,776	$11M	added+9%	0.00 pp	28 q
KNFKnife River Corporation	0.12%	127,020	$11M	added0%	0.00 pp	6 q
HUBGHUB Group Inc	0.11%	279,149	$10M	trimmed−1%	−0.01 pp	48 q
AIRAAR Corp.	0.10%	180,032	$10M	trimmed−4%	−0.01 pp	28 q
MEDPMedpace Holdings, Inc.	0.10%	32,433	$10M	added0%	0.00 pp	11 q
ABBVAbbvie Inc.	0.09%	41,962	$9M	trimmed−8%	+0.01 pp	48 q
QCRHQCR Holdings Inc	0.09%	120,013	$9M	added0%	0.00 pp	33 q
ASBAssociated Banc-Corp	0.08%	333,716	$8M	trimmed−9%	0.00 pp	48 q
BKHBlack Hills Corporation	0.08%	124,950	$8M	trimmed−11%	0.00 pp	33 q
CFRCullen/Frost Bankers Inc.	0.08%	59,920	$8M	trimmed−18%	−0.02 pp	35 q
PLXSPlexus Corp	0.08%	62,470	$8M	trimmed−24%	−0.04 pp	20 q
WTFCWintrust Financial Corp	0.08%	65,375	$7M	trimmed−24%	−0.02 pp	48 q
EMREmerson Electric Co.	0.07%	59,065	$6M	trimmed−8%	−0.01 pp	48 q
GISGeneral Mills, Inc.	0.07%	109,206	$7M	trimmed−11%	−0.01 pp	48 q
NWENorthWestern Energy Group, Inc.	0.07%	123,885	$7M	trimmed−10%	0.00 pp	23 q
CATCaterpillar Inc.	0.06%	16,553	$5M	trimmed−1%	0.00 pp	48 q
GBCIGlacier Bancorp Inc	0.06%	128,805	$6M	trimmed−15%	−0.01 pp	35 q
SCHBSchwab U.S. Broad Market ETF	0.06%	261,246	$6M	held	—	48 q
UPSUnited Parcel Service, Inc. Class B	0.06%	48,467	$5M	trimmed−25%	−0.02 pp	48 q
PNRPentair plc	0.06%	62,510	$5M	trimmed−4%	0.00 pp	44 q
BRK.ABerkshire Hathaway Inc.	0.05%	6	$5M	held	—	47 q
JAMFJamf Holding Corp.	0.05%	399,234	$5M	added0%	0.00 pp	19 q
MGPIMGP Ingredients Inc	0.05%	161,568	$5M	added+6%	−0.01 pp	26 q
MRKMerck & Co., Inc.	0.05%	53,159	$5M	trimmed−1%	0.00 pp	48 q
PANWPalo Alto Networks, Inc.	0.05%	30,191	$5M	added+3%	0.00 pp	9 q
SPYState Street SPDR S&P 500 ETF Trust	0.05%	8,944	$5M	trimmed−1%	0.00 pp	48 q
GOOGLAlphabet Inc. Class A	0.04%	23,787	$4M	trimmed−8%	−0.01 pp	39 q
CVXChevron Corporation	0.04%	20,309	$3M	trimmed−4%	+0.01 pp	48 q
CTASCintas Corp	0.04%	16,804	$3M	added+13%	+0.01 pp	20 q
GLWCorning Incorporated	0.04%	89,245	$4M	trimmed−3%	0.00 pp	48 q
THRMGentherm Inc	0.04%	151,992	$4M	trimmed−20%	−0.03 pp	46 q
LTHLife Time Group Holdings, Inc.	0.04%	125,470	$4M	added+13%	+0.02 pp	3 q
MCDMcDonald's Corporation	0.04%	13,325	$4M	trimmed−19%	−0.01 pp	48 q
NEOGNeogen Corp	0.04%	455,289	$4M	trimmed−2%	−0.01 pp	11 q
OSKOshkosh Corp.	0.04%	42,020	$4M	trimmed−16%	−0.01 pp	48 q
PIIPolaris Inc.	0.04%	84,215	$3M	added+48%	+0.01 pp	17 q
CWANClearwater Analytics Hds-a	0.03%	94,010	$3M	added+60%	+0.01 pp	2 q
COPConocoPhillips	0.03%	31,529	$3M	added+7%	0.00 pp	48 q
COSTCostco Wholesale Corp	0.03%	2,700	$3M	trimmed−1%	+0.01 pp	48 q
EXKExact Sciences Corp	0.03%	61,695	$3M	added+2%	0.00 pp	10 q
XOMExxon Mobil Corp	0.03%	23,913	$3M	trimmed−26%	0.00 pp	48 q
IVViShares Core S&P 500 ETF	0.03%	4,636	$3M	trimmed−0%	0.00 pp	48 q
SOLVSolventum Corporation	0.03%	35,043	$3M	trimmed−1%	+0.01 pp	4 q
WWDWoodward, Inc.	0.03%	14,000	$3M	held	—	11 q
ALRSAlerus Financial Corporation	0.02%	97,664	$2M	trimmed−0%	0.00 pp	14 q
AMGNAmgen Inc	0.02%	4,961	$2M	trimmed−12%	+0.01 pp	48 q
BDXBecton, Dickinson and Co.	0.02%	7,220	$2M	trimmed−5%	0.00 pp	48 q
BMYBristol-Myers Squibb Co.	0.02%	26,560	$2M	added+2%	+0.01 pp	48 q
CVRXCVRx, Inc.	0.02%	144,281	$2M	held	—	14 q
KOCoca-Cola Company	0.02%	20,895	$1M	added+3%	+0.01 pp	48 q
CGNXCognex Corp	0.02%	63,359	$2M	new	+0.02 pp	new
LOWLowe's Companies Inc.	0.02%	6,824	$2M	trimmed−1%	0.00 pp	48 q
ORCLOracle Corp	0.02%	13,785	$2M	added+2%	0.00 pp	48 q
PFEPfizer Inc.	0.02%	73,589	$2M	trimmed−7%	0.00 pp	48 q
SYKStryker Corporation	0.02%	4,411	$2M	trimmed−16%	0.00 pp	11 q
ZBHZimmer Biomet Holdings, Inc.	0.02%	14,450	$2M	trimmed−2%	0.00 pp	48 q
ADBEAdobe Inc.	0.01%	2,063	$791,222	added+6%	0.00 pp	38 q
AWKAmerican Water Works Company, Inc	0.01%	5,109	$753,680	trimmed−4%	0.00 pp	11 q
AMATApplied Materials Inc	0.01%	7,377	$1M	trimmed−1%	0.00 pp	33 q
BACBank of America Corporation	0.01%	22,342	$932,332	trimmed−1%	0.00 pp	48 q
BMOBank of Montreal	0.01%	6,846	$653,861	held	—	11 q
BAXBaxter International Inc.	0.01%	30,446	$1M	trimmed−26%	0.00 pp	48 q
BSXBoston Scientific Corp.	0.01%	10,311	$1M	held	—	11 q
BRCBrady Corporation	0.01%	7,000	$494,480	held	—	11 q
AVGOBroadcom Inc.	0.01%	3,380	$565,913	added+4%	0.00 pp	6 q
CMCanadian Imperial Bank of Commerce	0.01%	10,176	$572,909	held	—	11 q
CSCOCisco Systems, Inc. (DE)	0.01%	18,831	$1M	added+5%	0.00 pp	48 q
CTVACorteva, Inc.	0.01%	8,949	$563,161	trimmed−5%	0.00 pp	2 q
DDDuPont de Nemours, Inc.	0.01%	10,081	$752,849	trimmed−6%	0.00 pp	2 q
GEGE Aerospace	0.01%	6,847	$1M	trimmed−14%	0.00 pp	11 q
HWKNHawkins Inc	0.01%	13,320	$1M	held	—	48 q
HBANHuntington Bancshares Inc	0.01%	34,603	$519,391	trimmed−4%	0.00 pp	16 q
IEXIDEX Corporation	0.01%	4,000	$723,880	held	—	11 q
IDXXIdexx Laboratories Inc	0.01%	2,306	$968,405	trimmed−4%	0.00 pp	46 q
QQQInvesco QQQ Trust, Series 1	0.01%	1,612	$755,899	trimmed−12%	0.00 pp	21 q
DVYiShares Select Dividend ETF	0.01%	4,280	$574,766	held	—	7 q
EFAiShares MSCI EAFE ETF	0.01%	11,571	$945,711	new	+0.01 pp	new
IWFiShares Russell 1000 Growth ETF	0.01%	1,746	$630,463	held	—	2 q
KMBKimberly-Clark Corp.	0.01%	9,483	$1M	trimmed−7%	0.00 pp	48 q
MAMastercard Incorporated	0.01%	1,014	$555,829	held	—	30 q
MOSThe Mosaic Company	0.01%	30,280	$817,863	held	—	11 q
NSCNorfolk Southern Corp.	0.01%	3,172	$751,288	added+4%	0.00 pp	48 q
PEPPepsiCo, Inc.	0.01%	7,510	$1M	trimmed−4%	0.00 pp	48 q
PSXPhillips 66	0.01%	10,287	$1M	added+27%	0.00 pp	48 q
RTXRTX Corporation	0.01%	6,653	$881,256	trimmed−21%	0.00 pp	48 q
SHELShell plc	0.01%	7,504	$549,893	held	—	11 q
SCHFSchwab International Equity ETF	0.01%	30,000	$593,400	held	—	48 q
XLKState Street Technology Select Sector SPDR ETF	0.01%	4,187	$864,574	trimmed−34%	0.00 pp	25 q
SKYTSkyWater Technology	0.01%	141,170	$1M	held	—	16 q
SNASnap-on Incorporated	0.01%	3,585	$1M	trimmed−17%	0.00 pp	48 q
TMOThermo Fisher Scientific, Inc.	0.01%	1,306	$649,866	trimmed−19%	0.00 pp	45 q
UNPUnion Pacific Corp.	0.01%	5,641	$1M	added+7%	0.00 pp	36 q
VIGVanguard Dividend Appreciation ETF	0.01%	2,882	$559,079	trimmed−20%	0.00 pp	33 q
VOVanguard Morningstar Mid-Cap ETF	0.01%	2,038	$527,068	added+48%	+0.01 pp	4 q
VTIVanguard Morningstar Total Stock Market ETF	0.01%	2,585	$710,461	held	—	5 q
VCELVericel Corporation	0.01%	25,915	$1M	held	—	23 q
WMTWalmart Inc.	0.01%	15,033	$1M	added+13%	0.00 pp	48 q
WYWeyerhaeuser Company	0.01%	36,431	$1M	held	—	46 q
AMCRAmcor plc	0.01%	118,090	$1M	held	—	24 q
CBChubb Limited	0.01%	2,343	$707,563	held	—	11 q
TAT&T Inc.	0.00%	11,291	$319,309	trimmed−12%	0.00 pp	48 q
AMDAdvanced Micro Devices	0.00%	2,038	$209,384	trimmed−4%	0.00 pp	6 q
AEBAAllete Inc	0.00%	4,938	$324,427	trimmed−27%	0.00 pp	48 q
OKLOOklo Inc.	0.00%	15,971	$345,453	added+11%	0.00 pp	3 q
MOAltria Group, Inc.	0.00%	5,054	$303,328	added0%	0.00 pp	15 q
AMTAmerican Tower Corporation	0.00%	2,020	$439,552	held	—	29 q
ADSKAutodesk Inc	0.00%	800	$209,440	held	—	3 q
AXGNAxogen, Inc.	0.00%	17,000	$314,500	held	—	23 q
BPBP p.l.c.	0.00%	10,540	$356,147	held	—	11 q
BOHBank of Hawaii Corp.	0.00%	4,000	$275,880	held	—	6 q
BABoeing Company	0.00%	2,453	$418,422	added+7%	0.00 pp	48 q
CARRCarrier Global Corporation	0.00%	3,246	$205,796	trimmed−16%	0.00 pp	7 q
CLFCleveland-Cliffs Inc.	0.00%	16,000	$131,520	held	—	8 q
DHRDanaher Corporation	0.00%	1,166	$239,030	new	0.00 pp	new
DEDeere & Company	0.00%	617	$289,589	trimmed−9%	0.00 pp	19 q
DGIIDigi International Inc	0.00%	9,000	$250,470	held	—	27 q
DFAEDimensional Emerging Core Equity Market ETF	0.00%	12,527	$324,324	held	—	2 q
DOWDow Inc.	0.00%	10,801	$377,171	trimmed−7%	0.00 pp	2 q
AJGArthur J. Gallagher & Co.	0.00%	800	$276,192	trimmed−55%	0.00 pp	3 q
GEVGE Vernova Inc.	0.00%	713	$217,665	trimmed−28%	0.00 pp	4 q
HIMXHimax Technologies, Inc.	0.00%	10,550	$77,543	new	0.00 pp	new
ITWIllinois Tool Works Inc.	0.00%	1,699	$421,369	held	—	33 q
INTCIntel Corp	0.00%	13,286	$301,725	trimmed−6%	0.00 pp	48 q
IBMInternational Business Machines Corporation	0.00%	1,379	$342,902	added+23%	0.00 pp	3 q
IXNiShares Global Tech ETF	0.00%	3,150	$238,581	held	—	6 q
IJRiShares Core S&P Small-Cap ETF	0.00%	1,946	$203,493	trimmed−35%	0.00 pp	7 q
MSAMine Safety Incorporated	0.00%	1,490	$218,568	added+1%	0.00 pp	8 q
MRSHMarsh	0.00%	1,449	$353,599	added+5%	0.00 pp	14 q
NVECNVE Corp	0.00%	7,300	$465,302	held	—	11 q
NEMNewmont Corporation	0.00%	5,000	$241,400	new	0.00 pp	new
NEENextEra Energy, Inc.	0.00%	4,394	$311,491	trimmed−56%	−0.01 pp	48 q
NKENike, Inc.	0.00%	3,703	$235,066	added+8%	0.00 pp	32 q
NTRSNorthern Trust Corp	0.00%	2,140	$211,111	trimmed−4%	0.00 pp	13 q
OTISOtis Worldwide Corporation	0.00%	2,204	$227,453	trimmed−7%	0.00 pp	3 q
PDCOPatterson Companies, Inc.	0.00%	9,150	$285,846	trimmed−47%	−0.01 pp	48 q
PMPhilip Morris International Inc.	0.00%	2,600	$412,698	trimmed−15%	0.00 pp	48 q
PLUGPlug Power Inc.	0.00%	10,000	$13,500	held	—	5 q
RFRegions Financial Corp.	0.00%	10,545	$229,143	added+8%	0.00 pp	4 q
SEICSEI Investments Co	0.00%	3,300	$256,179	held	—	6 q
SLBSLB Limited	0.00%	5,500	$229,900	held	—	11 q
SHYFThe Shyft Group, Inc.	0.00%	10,000	$80,900	held	—	18 q
RGRSturm, Ruger & Company, Inc.	0.00%	12,000	$471,480	held	—	11 q
SU6Surmodics Inc	0.00%	7,626	$232,822	held	—	23 q
TJXTJX Companies, Inc. (The)	0.00%	2,841	$346,034	held	—	6 q
UFCSUnited Fire Group Inc.	0.00%	12,108	$356,702	trimmed−14%	0.00 pp	11 q
VEUVanguard FTSE All-World Ex-US ETF	0.00%	3,378	$204,909	new	0.00 pp	new
VONEVanguard Russell 1000 ETF	0.00%	1,031	$261,730	trimmed−28%	0.00 pp	3 q
VVVanguard Morningstar Large-Cap ETF	0.00%	821	$211,022	held	—	4 q
VUGVanguard Morningstar Growth ETF	0.00%	1,248	$462,783	added+11%	0.00 pp	9 q
VBVanguard Morningstar Small-Cap ETF	0.00%	1,260	$279,379	new	0.00 pp	new
WMWaste Management, Inc.	0.00%	1,128	$261,143	added+9%	0.00 pp	5 q
ZTSZoetis Inc.	0.00%	1,344	$221,290	trimmed−13%	0.00 pp	9 q
ACNAccenture PLC	0.00%	1,007	$314,224	added+13%	0.00 pp	19 q
TTTrane Technologies plc	0.00%	1,281	$431,595	trimmed−29%	−0.01 pp	9 q
MDYState Street SPDR S&P MIDCAP 400 ETF Trust	—	−1,035	—	exited	−0.01 pp	—
APDAir Products & Chemicals, Inc.	—	−1,175	—	exited	0.00 pp	—
ALTRAltair Engineering Inc. Class A	—	−4,431	—	exited	0.00 pp	—
AVYAvery Dennison Corp.	—	−2,000	—	exited	0.00 pp	—
BRBroadridge Financial Solutions Inc	—	−1,350	—	exited	0.00 pp	—
CMGChipotle Mexican Grill, Inc.	—	−3,660	—	exited	0.00 pp	—
CLColgate-Palmolive Company	—	−2,686	—	exited	0.00 pp	—
CMCSAComcast Corp	—	−5,392	—	exited	0.00 pp	—
HPQHP Inc.	—	−6,593	—	exited	0.00 pp	—
HOGHarley-Davidson, Inc.	—	−7,000	—	exited	0.00 pp	—
LMTLockheed Martin Corp.	—	−503	—	exited	0.00 pp	—
RSGRepublic Services Inc.	—	−2,100	—	exited	0.00 pp	—
ROSTRoss Stores Inc	—	−1,513	—	exited	0.00 pp	—
TSLATesla, Inc.	—	−992	—	exited	0.00 pp	—
TTDThe Trade Desk, Inc.	—	−2,782	—	exited	0.00 pp	—
ALTMArcadium Lithium PLC	—	−13,925	—	exited	0.00 pp	—