# MAIRS & POWER INC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1070134. Source: https://holderbook.com/funds/1070134-mairs-power-inc/

- Reported value: $10.9B
- Positions: 254
- Weight of the ten largest: 44.3%
- Filed: 2026-08-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $942.0M | 4,707,792 | 8.6% | 29 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $727.7M | 1,950,737 | 6.7% | 31 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $619.6M | 2,599,441 | 5.7% | 31 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $594.8M | 1,683,439 | 5.5% | 31 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $386.4M | 322,129 | 3.5% | 31 |
| NVENT ELEC PLC | [NVT](https://holderbook.com/stocks/NVT/) | $348.2M | 2,052,813 | 3.2% | 31 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $329.4M | 1,138,448 | 3.0% | 31 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $302.3M | 923,550 | 2.8% | 31 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $292.3M | 852,050 | 2.7% | 31 |
| GRACO INC | [GGG](https://holderbook.com/stocks/GGG/) | $287.1M | 3,797,451 | 2.6% | 31 |
| LITTELFUSE INC | [LFUS](https://holderbook.com/stocks/LFUS/) | $274.2M | 602,104 | 2.5% | 31 |
| TORO CO | [TTC](https://holderbook.com/stocks/TTC/) | $260.7M | 2,676,474 | 2.4% | 31 |
| ENTEGRIS INC | [ENTG](https://holderbook.com/stocks/ENTG/) | $234.1M | 1,301,640 | 2.1% | 19 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $232.7M | 559,951 | 2.1% | 31 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $227.4M | 476,245 | 2.1% | 6 |
| MOTOROLA SOLUTIONS INC | [MSI](https://holderbook.com/stocks/MSI/) | $226.3M | 544,876 | 2.1% | 31 |
| ECOLAB INC | [ECL](https://holderbook.com/stocks/ECL/) | $216.6M | 777,541 | 2.0% | 31 |
| WEC ENERGY GROUP INC | [WEC](https://holderbook.com/stocks/WEC/) | $208.8M | 1,787,905 | 1.9% | 31 |
| PALO ALTO NETWORKS INC | [PANW](https://holderbook.com/stocks/PANW/) | $204.6M | 599,841 | 1.9% | 14 |
| ALLIANT ENERGY CORP | [LNT](https://holderbook.com/stocks/LNT/) | $202.8M | 2,657,913 | 1.9% | 31 |
| BIO-TECHNE CORP | [TECH](https://holderbook.com/stocks/TECH/) | $190.8M | 2,700,698 | 1.8% | 31 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $187.5M | 332,871 | 1.7% | 30 |
| FASTENAL CO | [FAST](https://holderbook.com/stocks/FAST/) | $185.9M | 3,870,891 | 1.7% | 31 |
| SHERWIN WILLIAMS CO | [SHW](https://holderbook.com/stocks/SHW/) | $151.7M | 440,586 | 1.4% | 30 |
| C H ROBINSON WORLDWIDE IN | [CHRW](https://holderbook.com/stocks/CHRW/) | $145.2M | 770,708 | 1.3% | 31 |
| FULLER H B CO | [FUL](https://holderbook.com/stocks/FUL/) | $141.9M | 2,435,168 | 1.3% | 31 |
| VERIZON COMMUNICATIONS INC | [VZ](https://holderbook.com/stocks/VZ/) | $139.4M | 3,291,850 | 1.3% | 31 |
| WASTE MGMT INC DEL | [WM](https://holderbook.com/stocks/WM/) | $131.7M | 591,025 | 1.2% | 10 |
| ROCKWELL AUTOMATION INC | [ROK](https://holderbook.com/stocks/ROK/) | $127.6M | 257,811 | 1.2% | 28 |
| FISERV INC | [FISV](https://holderbook.com/stocks/FISV/) | $112.5M | 2,293,029 | 1.0% | 31 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $107.4M | 423,010 | 1.0% | 31 |
| AMERIPRISE FINL INC | [AMP](https://holderbook.com/stocks/AMP/) | $98.2M | 214,056 | 0.9% | 31 |
| COGNEX CORP | [CGNX](https://holderbook.com/stocks/CGNX/) | $94.7M | 1,307,856 | 0.9% | 6 |
| HORMEL FOODS CORP | [HRL](https://holderbook.com/stocks/HRL/) | $84.3M | 3,398,047 | 0.8% | 31 |
| CASEYS GEN STORES INC | [CASY](https://holderbook.com/stocks/CASY/) | $72.4M | 91,125 | 0.7% | 31 |
| WELLS FARGO & CO | [WFC](https://holderbook.com/stocks/WFC/) | $72.1M | 872,186 | 0.7% | 31 |
| GALLAGHER ARTHUR J & CO | [AJG](https://holderbook.com/stocks/AJG/) | $71.5M | 311,539 | 0.7% | 1 |
| ABBOTT LABORATORIES | [ABT](https://holderbook.com/stocks/ABT/) | $66.2M | 729,358 | 0.6% | 31 |
| TEXAS INSTRS INC | [TXN](https://holderbook.com/stocks/TXN/) | $64.8M | 217,453 | 0.6% | 24 |
| TENNANT CO | [TNC](https://holderbook.com/stocks/TNC/) | $59.7M | 681,800 | 0.5% | 31 |
| INTUITIVE SURGICAL INC | [ISRG](https://holderbook.com/stocks/ISRG/) | $58.2M | 146,459 | 0.5% | 3 |
| 3M CO | [MMM](https://holderbook.com/stocks/MMM/) | $56.6M | 349,350 | 0.5% | 31 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $53.8M | 152,452 | 0.5% | 31 |
| TRAVELERS COMPANIES INC | [TRV](https://holderbook.com/stocks/TRV/) | $51.7M | 156,482 | 0.5% | 31 |
| AMERICAN EXPRESS CO | [AXP](https://holderbook.com/stocks/AXP/) | $49.3M | 145,612 | 0.5% | 31 |
| IDACORP INC | [IDA](https://holderbook.com/stocks/IDA/) | $46.9M | 309,970 | 0.4% | 5 |
| MEDPACE HLDGS INC | [MEDP](https://holderbook.com/stocks/MEDP/) | $45.9M | 86,715 | 0.4% | 16 |
| CME GROUP INC | [CME](https://holderbook.com/stocks/CME/) | $43.2M | 195,585 | 0.4% | 1 |
| DONALDSON INC | [DCI](https://holderbook.com/stocks/DCI/) | $41.6M | 463,717 | 0.4% | 31 |
| WORKIVA INC | [WK](https://holderbook.com/stocks/WK/) | $40.2M | 829,491 | 0.4% | 31 |
| PIPER SANDLER COMPANIES | [PIPR](https://holderbook.com/stocks/PIPR/) | $39.4M | 544,505 | 0.4% | 2 |
| SPROUTS FMRS MKT INC | [SFM](https://holderbook.com/stocks/SFM/) | $38.2M | 451,826 | 0.4% | 2 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $36.0M | 245,423 | 0.3% | 31 |
| US BANCORP | [USB](https://holderbook.com/stocks/USB/) | $33.9M | 561,453 | 0.3% | 31 |
| ZOETIS INC | [ZTS](https://holderbook.com/stocks/ZTS/) | $33.6M | 467,515 | 0.3% | 14 |
| QUALCOMM INC | [QCOM](https://holderbook.com/stocks/QCOM/) | $33.2M | 179,832 | 0.3% | 31 |
| XCEL ENERGY INC | [XEL](https://holderbook.com/stocks/XEL/) | $31.5M | 392,497 | 0.3% | 31 |
| BENTLEY SYS INC | [BSY](https://holderbook.com/stocks/BSY/) | $29.0M | 970,114 | 0.3% | 3 |
| AUTOMATIC DATA PROCESSING IN | [ADP](https://holderbook.com/stocks/ADP/) | $28.5M | 127,173 | 0.3% | 31 |
| MEDTRONIC PLC | [MDT](https://holderbook.com/stocks/MDT/) | $28.4M | 363,349 | 0.3% | 31 |
| GENERAC HLDGS INC | [GNRC](https://holderbook.com/stocks/GNRC/) | $27.3M | 93,395 | 0.3% | 31 |
| HONEYWELL AEROSPACE INC | [HONA](https://holderbook.com/stocks/HONA/) | $22.1M | 100,041 | 0.2% | 1 |
| CORNING INC | [GLW](https://holderbook.com/stocks/GLW/) | $21.8M | 85,447 | 0.2% | 31 |
| TARGET CORP | [TGT](https://holderbook.com/stocks/TGT/) | $20.8M | 159,261 | 0.2% | 31 |
| SCHWAB CHARLES CORP | [SCHW](https://holderbook.com/stocks/SCHW/) | $20.0M | 216,288 | 0.2% | 31 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $19.3M | 54,128 | 0.2% | 31 |
| CATERPILLAR INC | [CAT](https://holderbook.com/stocks/CAT/) | $19.3M | 18,102 | 0.2% | 31 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $16.7M | 173,626 | 0.2% | 31 |
| CLEARFIELD INC | [CLFD](https://holderbook.com/stocks/CLFD/) | $15.3M | 385,257 | 0.1% | 15 |
| BADGER METER INC | [BMI](https://holderbook.com/stocks/BMI/) | $14.8M | 99,464 | 0.1% | 31 |
| PRINCIPAL FINANCIAL GROUP IN | [PFG](https://holderbook.com/stocks/PFG/) | $14.6M | 135,283 | 0.1% | 31 |
| AAR CORP | [AIR](https://holderbook.com/stocks/AIR/) | $12.0M | 83,933 | 0.1% | 31 |
| PLEXUS CORP | [PLXS](https://holderbook.com/stocks/PLXS/) | $11.8M | 39,276 | 0.1% | 25 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $11.8M | 23,590 | 0.1% | 31 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $11.2M | 44,702 | 0.1% | 31 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $11.2M | 81,802 | 0.1% | 31 |
| AMBARELLA INC | [AMBA](https://holderbook.com/stocks/AMBA/) | $10.8M | 126,353 | 0.1% | 2 |
| KNIFE RIVER CORP | [KNF](https://holderbook.com/stocks/KNF/) | $10.7M | 128,377 | 0.1% | 11 |
| HERSHEY CO | [HSY](https://holderbook.com/stocks/HSY/) | $10.7M | 61,044 | 0.1% | 31 |
| TRUST FOR PROFESSIONAL MANAG | [MINN](https://holderbook.com/stocks/MINN/) | $10.5M | 470,668 | 0.1% | 5 |
| OLD NATL BANCORP IND | [ONB](https://holderbook.com/stocks/ONB/) | $10.1M | 389,291 | 0.1% | 31 |
| JBT MAREL CORPORATION | [JBTM](https://holderbook.com/stocks/JBTM/) | $9.8M | 67,465 | 0.1% | 18 |
| WINTRUST FINL CORP | [WTFC](https://holderbook.com/stocks/WTFC/) | $9.4M | 58,659 | 0.1% | 31 |
| EMERSON ELEC CO | [EMR](https://holderbook.com/stocks/EMR/) | $9.1M | 63,235 | 0.1% | 31 |
| QCR HLDGS INC | [QCRH](https://holderbook.com/stocks/QCRH/) | $8.9M | 91,002 | 0.1% | 31 |
| PATRICK INDS INC | [PATK](https://holderbook.com/stocks/PATK/) | $8.5M | 94,824 | 0.1% | 4 |
| ASSOCIATED BANC CORP | [ASB](https://holderbook.com/stocks/ASB/) | $8.3M | 270,040 | 0.1% | 31 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $8.3M | 12,096 | 0.1% | 2 |
| RADNET INC | [RDNT](https://holderbook.com/stocks/RDNT/) | $8.2M | 133,116 | 0.1% | 5 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $8.0M | 10,654 | 0.1% | 31 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $8.0M | 11,007 | 0.1% | 31 |
| SCHWAB STRATEGIC TR | [SCHB](https://holderbook.com/stocks/SCHB/) | $7.6M | 261,246 | 0.1% | 31 |
| BLACK HILLS CORP | [BKH](https://holderbook.com/stocks/BKH/) | $7.3M | 98,285 | 0.1% | 31 |
| LIFE TIME GROUP HOLDINGS INC | [LTH](https://holderbook.com/stocks/LTH/) | $7.0M | 172,317 | 0.1% | 8 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $6.8M | 41,147 | 0.1% | 31 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $6.6M | 51,519 | 0.1% | 31 |
| CULLEN FROST BANKERS INC | [CFR](https://holderbook.com/stocks/CFR/) | $6.6M | 42,696 | 0.1% | 31 |
| ALERUS FINL CORP | [ALRS](https://holderbook.com/stocks/ALRS/) | $6.3M | 203,417 | 0.1% | 19 |
| JAMES HARDIE INDS PLC | [JHX](https://holderbook.com/stocks/JHX/) | $6.3M | 240,716 | 0.1% | 3 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $6.2M | 8,279 | 0.1% | 31 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +13.6% | +14.8% | -1.2% | 100% |
| Q1 2026 | -4.0% | -4.6% | +0.6% | 100% |
| Q4 2025 | +0.3% | +2.4% | -2.0% | 100% |
| Q3 2025 | +7.5% | +7.8% | -0.3% | 100% |
| Q2 2025 | +6.2% | +10.5% | -4.3% | 100% |
| Q1 2025 | -5.0% | -4.6% | -0.5% | 100% |
| Q4 2024 | +0.4% | +2.1% | -1.7% | 100% |
| Q3 2024 | +4.1% | +5.4% | -1.3% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $10.9B | 254 |
| Q1 2026 | $9.8B | 245 |
| Q4 2025 | $10.4B | 243 |
| Q3 2025 | $10.6B | 248 |
| Q2 2025 | $10.1B | 235 |
| Q1 2025 | $9.6B | 221 |
| Q4 2024 | $10.3B | 229 |
| Q3 2024 | $10.6B | 228 |
| Q2 2024 | $10.3B | 222 |
| Q1 2024 | $10.3B | 226 |
| Q4 2023 | $9.5B | 231 |
| Q3 2023 | $8.5B | 214 |