What stocks does Mairs & Power Funds own?

As of 2026Q2, Mairs & Power Funds's 13F discloses 254 positions worth $10.90B. The top five holdings: NVDA (8.6%), MSFT (6.7%), AMZN (5.7%), GOOG (5.5%), LLY (3.5%). 13F filings cover long US-listed equities only — cash, bonds, shorts, and non-US positions are not disclosed.

What did Mairs & Power Funds buy this quarter?

In 2026Q2, the filing shows 17 new positions and 11 additions to existing holdings. The largest positions touched by buying: WM, AJG, ISRG, CME, SFM.

How big is Mairs & Power Funds's portfolio?

$10.90B across 254 positions per the latest 13F (filed Aug 14, 2026). The top five holdings account for 30% of the disclosed book.

← All super investors

Mairs & Power Funds

$10.90B

disclosed 13F portfolio · 254 positions

top-5 concentration30%

Q2 2026 · filed Aug 14, 2026

Cloning this 13F returned11.6%/yrvs the S&P 500's13.8%/yrover the same 12.2 years· why →

Mairs & Power Funds (Mairs & Power Funds) discloses a $10.90B portfolio across 254 US-listed positions in the latest 13F filing (2026Q2, filed Aug 14, 2026). The largest holding is NVDA at 8.6% of the book. The biggest move of the quarter: trimmed the UNH share count by 24% (position now $233M). Mechanically cloning this 13F returned 11.6%/yr over the past 12.2 years, versus 13.8%/yr for the S&P 500 across that identical 12.2-year window.

Share𝕏 in

Holdings (254) · click any column to sort

#↑	Ticker	Issuer	% Port.	This Q	History	Value
1	NVDA	Nvidia Corp	8.6%		29q held	$942M
2	MSFT	Microsoft Corp	6.7%		40q held	$728M
3	AMZN	Amazon.com Inc	5.7%		40q held	$620M
4	GOOG	Alphabet Inc-cl C	5.5%		40q held	$595M
5	LLY	Eli Lilly & CO	3.5%		40q held	$386M
6	NVT	Nvent Elec Plc	3.2%		33q held	$348M
7	AAPL	Apple Inc	3.0%		40q held	$329M
8	JPM	Jpmorgan Chase & CO	2.8%		40q held	$302M
9	V	Visa Inc-class A Shares	2.7%		40q held	$292M
10	GGG	Graco Inc	2.6%		40q held	$287M
11	LFUS	Littelfuse Inc	2.5%		34q held	$274M
12	TTC	Toro CO	2.4%		40q held	$261M
13	ENTG	Entegris Inc	2.1%		19q held	$234M
14	UNH	Unitedhealth Group Inc	2.1%	-24%	40q held	$233M
15	TSM	Taiwan Semiconductor-sp Adr	2.1%		6q held	$227M
16	MSI	Motorola Solutions Inc	2.1%		32q held	$226M
17	ECL	Ecolab Inc	2.0%		40q held	$217M
18	WEC	Wec Energy Group Inc	1.9%		40q held	$209M
19	PANW	Palo Alto Networks Inc	1.9%		14q held	$205M
20	LNT	Alliant Energy Corp	1.9%		40q held	$203M
21	TECH	Bio-techne Corp	1.8%		40q held	$191M
22	META	Meta Platforms Inc-class A	1.7%		36q held	$188M
23	FAST	Fastenal CO	1.7%		40q held	$186M
24	SHW	Sherwin-williams Co/the	1.4%		30q held	$152M
25	CHRW	C.h. Robinson Worldwide Inc	1.3%		40q held	$145M
26	FUL	H.b. Fuller Co.	1.3%		40q held	$142M
27	VZ	Verizon Communications Inc	1.3%		40q held	$139M
28	WM	Waste Management Inc	1.2%	+48%	10q held	$132M
29	ROK	Rockwell Automation Inc	1.2%		31q held	$128M
30	FISV	Fiserv Inc	1.0%		40q held	$112M
31	JNJ	Johnson & Johnson	1.0%	-27%	40q held	$107M
32	AMP	Ameriprise Financial Inc	0.9%		40q held	$98M
33	CGNX	Cognex Corp	0.9%		6q held	$95M
34	HRL	Hormel Foods Corp	0.8%		40q held	$84M
35	CASY	Casey's General Stores Inc	0.7%		40q held	$72M
36	WFC	Wells Fargo & CO	0.7%	-36%	40q held	$72M
37	AJG	Arthur J Gallagher & CO	0.7%	New	6q held	$72M
38	ABT	Abbott Laboratories	0.6%		40q held	$66M
39	TXN	Texas Instruments Inc	0.6%		29q held	$65M
40	TNC	Tennant CO	0.5%		40q held	$60M
41	ISRG	Intuitive Surgical Inc	0.5%	+47%	3q held	$58M
42	MMM	3M CO	0.5%		40q held	$57M
43	HD	Home Depot Inc	0.5%		40q held	$54M
44	TRV	Travelers Cos Inc/the	0.5%		40q held	$52M
45	AXP	American Express CO	0.5%		40q held	$49M
46	IDA	Idacorp Inc	0.4%		5q held	$47M
47	MEDP	Medpace Holdings Inc	0.4%		16q held	$46M
48	CME	Cme Group Inc	0.4%	New	— 1q held	$43M
49	DCI	Donaldson CO Inc	0.4%		40q held	$42M
50	WK	Workiva Inc	0.4%		40q held	$40M
51	PIPR	Piper Sandler Cos	0.4%		2q held	$39M
52	SFM	Sprouts Farmers Market Inc	0.4%	+55%	2q held	$38M
53	PG	Procter & Gamble Co/the	0.3%		40q held	$36M
54	USB	US Bancorp	0.3%		40q held	$34M
55	ZTS	Zoetis Inc	0.3%	+54%	32q held	$34M
56	QCOM	Qualcomm Inc	0.3%	-62%	40q held	$33M
57	XEL	Xcel Energy Inc	0.3%		40q held	$32M
58	BSY	Bentley Systems Inc-class B	0.3%	+311%	3q held	$29M
59	ADP	Automatic Data Processing	0.3%		40q held	$28M
60	MDT	Medtronic Plc	0.3%		40q held	$28M
61	GNRC	Generac Holdings Inc	0.3%		40q held	$27M
62	43849R105	Honeywell Aerospace Inc	0.2%	New	— 1q held	$22M
63	GLW	Corning Inc	0.2%		40q held	$22M
64	TGT	Target Corp	0.2%		40q held	$21M
65	SCHW	Schwab (charles) Corp	0.2%		40q held	$20M
66	GOOGL	Alphabet Inc-cl A	0.2%		40q held	$19M
67	CAT	Caterpillar Inc	0.2%		40q held	$19M
68	DIS	Walt Disney Co/the	0.2%	-28%	40q held	$17M
69	CLFD	Clearfield Inc	0.1%	-47%	15q held	$15M
70	BMI	Badger Meter Inc	0.1%		40q held	$15M
71	PFG	Principal Financial Group	0.1%		40q held	$15M
72	AIR	Aar Corp	0.1%		33q held	$12M
73	PLXS	Plexus Corp	0.1%		25q held	$12M
74	BRK/B	Berkshire Hathaway Inc-cl B	0.1%		40q held	$12M
75	ABBV	Abbvie Inc	0.1%		40q held	$11M
76	XOM	Exxon Mobil Corp	0.1%		40q held	$11M
77	G037AX101	Ambarella Inc	0.1%		2q held	$11M
78	KNF	Knife River Corp	0.1%		11q held	$11M
79	HSY	Hershey Co/the	0.1%		40q held	$11M
80	MINN	Mairs & Power MN Muni Bond	0.1%		5q held	$11M
81	ONB	Old National Bancorp	0.1%		34q held	$10M
82	JBTM	Jbt Marel Corp	0.1%		18q held	$10M
83	WTFC	Wintrust Financial Corp	0.1%		40q held	$9M
84	EMR	Emerson Electric CO	0.1%		40q held	$9M
85	QCRH	Qcr Holdings Inc	0.1%		38q held	$9M
86	PATK	Patrick Industries Inc	0.1%	+64%	4q held	$9M
87	ASB	Associated Banc-corp	0.1%		40q held	$8M
88	VOO	Vanguard S&p 500 Etf	0.1%		5q held	$8M
89	RDNT	Radnet Inc	0.1%		5q held	$8M
90	IVV	Ishares Core S&p 500 Etf	0.1%	+65%	40q held	$8M
91	AMAT	Applied Materials Inc	0.1%		38q held	$8M
92	SCHB	Schwab US Broad Market Etf	0.1%		40q held	$8M
93	BKH	Black Hills Corp	0.1%		38q held	$7M
94	LTH	Life Time Group Holdings Inc	0.1%		8q held	$7M
95	CVX	Chevron Corp	0.1%		40q held	$7M
96	MRK	Merck & Co. Inc.	0.1%		40q held	$7M
97	CFR	Cullen/frost Bankers Inc	0.1%		40q held	$7M
98	ALRS	Alerus Financial Corp	0.1%	+156%	19q held	$6M
99	G4253H101	James Hardie Inds Plc	0.1%		3q held	$6M
100	SPY	SS Spdr S&p 500 Etf Trust-us	0.1%	-70%	40q held	$6M
101	WWD	Woodward Inc	0.1%		16q held	$6M
102	TREX	Trex Company Inc	0.1%		4q held	$6M
103	HUBG	Hub Group Inc-cl A	0.1%		40q held	$6M
104	SOLV	Solventum Corp	0.1%		9q held	$6M
105	GBCI	Glacier Bancorp Inc	0.1%		40q held	$5M
106	OSK	Oshkosh Corp	<0.1%		40q held	$5M
107	CTAS	Cintas Corp	<0.1%	+22%	25q held	$5M
108	G7S00T104	Pentair Plc	<0.1%		40q held	$4M
109	KHC	Kraft Heinz Co/the	<0.1%	-44%	8q held	$4M
110	PII	Polaris Inc	<0.1%		36q held	$4M
111	SYY	Sysco Corp	<0.1%	-51%	40q held	$4M
112	MCD	Mcdonald's Corp	<0.1%		40q held	$4M
113	BRK/A	Berkshire Hathaway Inc-cl A	<0.1%		40q held	$4M
114	NWE	Northwestern Energy Group IN	<0.1%	-40%	28q held	$4M
115	HWKN	Hawkins Inc	<0.1%		40q held	$4M
116	VO	Vanguard Mid-cap Etf	<0.1%		10q held	$3M
117	GE	General Electric	<0.1%		18q held	$3M
118	VEA	Vanguard Ftse Developed Etf	<0.1%		4q held	$3M
119	COST	Costco Wholesale Corp	<0.1%		40q held	$3M
120	COP	Conocophillips	<0.1%		40q held	$3M
121	NKE	Nike Inc -cl B	<0.1%		39q held	$3M
122	APG	Api Group Corp	<0.1%		2q held	$2M
123	GIS	General Mills Inc	<0.1%	-28%	40q held	$2M
124	CSCO	Cisco Systems Inc	<0.1%		40q held	$2M
125	INTC	Intel Corp	<0.1%		40q held	$2M
126	ORCL	Oracle Corp	<0.1%	-56%	40q held	$2M
127	KO	Coca-cola Co/the	<0.1%		40q held	$2M
128	XYL	Xylem Inc	<0.1%		5q held	$2M
129	WMT	Walmart Inc	<0.1%		40q held	$2M
130	AMGN	Amgen Inc	<0.1%		40q held	$2M
131	EFA	Ishares Msci Eafe Etf	<0.1%		36q held	$2M
132	PFE	Pfizer Inc	<0.1%		40q held	$2M
133	RTX	Rtx Corp	<0.1%		25q held	$2M
134	VB	Vanguard Small-cap Etf	<0.1%		6q held	$2M
135	LOW	Lowe's Cos Inc	<0.1%		40q held	$2M
136	SOLS	Solstice Adv Materials Inc	<0.1%	-25%	2q held	$1M
137	BMY	Bristol-myers Squibb CO	<0.1%		40q held	$1M
138	WAB	Wabtec Corp	<0.1%		6q held	$1M
139	AVGO	Broadcom Inc	<0.1%		14q held	$1M
140	CIEN	Ciena Corp	<0.1%		5q held	$1M
141	MGEE	Mge Energy Inc	<0.1%	New	— 1q held	$1M
142	QQQ	Invesco Qqq Trust Series 1	<0.1%		26q held	$1M
143	GLD	Spdr Gold Shares	<0.1%	+146%	2q held	$1M
144	SYK	Stryker Corp	<0.1%		16q held	$1M
145	PEP	Pepsico Inc	<0.1%		40q held	$1M
146	UPS	United Parcel Service-cl B	<0.1%	-34%	40q held	$1M
147	SNA	Snap-on Inc	<0.1%		40q held	$1M
148	BMO	Bank OF Montreal	<0.1%		16q held	$1M
149	CM	Can Imperial BK OF Commerce	<0.1%		16q held	$1M
150	VSAT	Viasat Inc	<0.1%		5q held	$1M
151	VCEL	Vericel Corp	<0.1%		28q held	$1M
152	PSX	Phillips 66	<0.1%		40q held	$1M
153	VONE	Vanguard Russell 1000	<0.1%		7q held	$1M
154	IDXX	Idexx Laboratories Inc	<0.1%		40q held	$1M
155	BDX	Becton Dickinson And CO	<0.1%		40q held	$1M
156	NEE	Nextera Energy Inc	<0.1%		40q held	$1M
157	BAC	Bank OF America Corp	<0.1%		40q held	$1M
158	KMB	Kimberly-clark Corp	<0.1%		40q held	$1M
159	VWO	Vanguard Ftse Emerging Marke	<0.1%		3q held	$1M
160	IWP	Ishares Russell Mid-cap Grow	<0.1%	New	— 1q held	$1M
161	IBM	Intl Business Machines Corp	<0.1%		37q held	$1M
162	AXGN	Axogen Inc	<0.1%		28q held	$1M
163	GEV	GE Vernova Inc	<0.1%		9q held	$994K
164	AMD	Advanced Micro Devices	<0.1%		14q held	$957K
165	UNP	Union Pacific Corp	<0.1%		40q held	$929K
166	IEX	Idex Corp	<0.1%		16q held	$908K
167	XLK	SS Technology Select Sector	<0.1%		31q held	$852K
168	BK	Bank OF New York Mellon Corp	<0.1%		6q held	$851K
169	SCHF	Schwab Intl Equity Etf	<0.1%		40q held	$847K
170	CB	Chubb Limited	<0.1%		20q held	$837K
171	IJH	Ishares Core S&p Midcap Etf	<0.1%	New	20q held	$829K
172	NSC	Norfolk Southern Corp	<0.1%		40q held	$815K
173	OKLO	Oklo Inc	<0.1%		8q held	$814K
174	BIL	SS Spdr BB 1-3m T-bill Etf	<0.1%	+24%	5q held	$791K
175	G0250X149	Amcor Plc	<0.1%		2q held	$743K
176	IWR	Ishares Russell Mid-cap Etf	<0.1%	New	18q held	$718K
177	VGLT	Vanguard Long-term Treasury	<0.1%		2q held	$710K
178	WY	Weyerhaeuser CO	<0.1%		40q held	$707K
179	RSP	Invesco S&p 500 Equal Weight	<0.1%	-42%	2q held	$660K
180	AWK	American Water Works CO Inc	<0.1%		16q held	$658K
181	BRC	Brady Corporation - CL A	<0.1%		16q held	$641K
182	SHEL	Shell Plc-adr	<0.1%		16q held	$631K
183	NVEC	Nve Corp	<0.1%		39q held	$627K
184	TMO	Thermo Fisher Scientific Inc	<0.1%		40q held	$622K
185	IWD	Ishares Russell 1000 Value E	<0.1%		16q held	$621K
186	ACWX	Ishares Msci Acwi EX US Etf	<0.1%		4q held	$575K
187	BA	Boeing Co/the	<0.1%		40q held	$574K
188	VTI	Vanguard Total Stock Mkt Etf	<0.1%		22q held	$572K
189	ZBH	Zimmer Biomet Holdings Inc	<0.1%		40q held	$570K
190	MDY	State Street Spdr S&p Midcap	<0.1%		12q held	$561K
191	DGII	Digi International Inc	<0.1%		32q held	$525K
192	TJX	Tjx Companies Inc	<0.1%		11q held	$517K
193	CAH	Cardinal Health Inc	<0.1%		20q held	$504K
194	G8994E103	Trane Technologies Plc	<0.1%		19q held	$493K
195	MU	Micron Technology Inc	<0.1%	-41%	2q held	$473K
196	NEM	Newmont Corp	<0.1%		15q held	$467K
197	HBAN	Huntington Bancshares Inc	<0.1%		21q held	$464K
198	PM	Philip Morris International	<0.1%		40q held	$459K
199	IXN	Ishares Global Tech Etf	<0.1%		14q held	$456K
200	RGR	Sturm Ruger & CO Inc	<0.1%		16q held	$454K
201	IWM	Ishares Russell 2000 Etf	<0.1%	New	13q held	$453K
202	SKYT	Skywater Technology Inc	<0.1%		21q held	$453K
203	BSX	Boston Scientific Corp	<0.1%		20q held	$423K
204	BBY	Best Buy CO Inc	<0.1%		17q held	$417K
205	NTRS	Northern Trust Corp	<0.1%		18q held	$417K
206	CRM	Salesforce Inc	<0.1%	-95%	19q held	$416K
207	ITW	Illinois Tool Works	<0.1%		39q held	$415K
208	IWO	Ishares Russell 2000 Growth	<0.1%	New	7q held	$410K
209	ADBE	Adobe Inc	<0.1%		40q held	$404K
210	VIG	Vanguard Dividend Apprec Etf	<0.1%	-27%	38q held	$400K
211	CMI	Cummins Inc	<0.1%		15q held	$377K
212	USMV	Ishares Msci Usa Min Vol Fac	<0.1%		2q held	$369K
213	WAT	Waters Corp	<0.1%		2q held	$360K
214	IJR	Ishares Core S&p Small-cap E	<0.1%		18q held	$357K
215	VUG	Vanguard Growth Etf	<0.1%		20q held	$356K
216	MPC	Marathon Petroleum Corp	<0.1%		7q held	$355K
217	DE	Deere & CO	<0.1%		32q held	$353K
218	IWS	Ishares Russell Mid-cap Valu	<0.1%	New	— 1q held	$348K
219	UFCS	United Fire Group Inc	<0.1%		35q held	$346K
220	IVW	Ishares S&p 500 Growth Etf	<0.1%		4q held	$345K
221	HOG	Harley-davidson Inc	<0.1%		16q held	$342K
222	MOS	Mosaic Co/the	<0.1%	-20%	16q held	$339K
223	LRCX	Lam Research Corp	<0.1%	New	— 1q held	$331K
224	AMT	American Tower Corp	<0.1%		34q held	$330K
225	MO	Altria Group Inc	<0.1%		34q held	$329K
226	BOH	Bank OF Hawaii Corp	<0.1%		14q held	$326K
227	VGT	Vanguard Info Tech Etf	<0.1%		10q held	$321K
228	EPD	Enterprise Products Partners	<0.1%		22q held	$316K
229	LHX	L3harris Technologies Inc	<0.1%		4q held	$300K
230	TKR	Timken CO	<0.1%		2q held	$291K
231	GILD	Gilead Sciences Inc	<0.1%		5q held	$287K
232	VV	Vanguard Large-cap Etf	<0.1%		9q held	$281K
233	BAX	Baxter International Inc	<0.1%	-44%	40q held	$267K
234	IAU	Ishares Gold Trust	<0.1%		5q held	$266K
235	VEU	Vanguard Ftse All-world Ex-u	<0.1%		6q held	$266K
236	VRT	Vertiv Holdings Co-a	<0.1%	New	— 1q held	$261K
237	IVE	Ishares S&p 500 Value Etf	<0.1%		3q held	$260K
238	MSA	Msa Safety Inc	<0.1%		14q held	$257K
239	SLB	Slb Ltd	<0.1%		36q held	$256K
240	T	At&t Inc	<0.1%		40q held	$234K
241	DHR	Danaher Corp	<0.1%		23q held	$218K
242	MS	Morgan Stanley	<0.1%	New	— 1q held	$217K
243	RF	Regions Financial Corp	<0.1%	New	14q held	$211K
244	ECG	Everus Construction Group	<0.1%	New	— 1q held	$207K
245	BP	BP Plc-spons Adr	<0.1%		36q held	$207K
246	AME	Ametek Inc	<0.1%	New	19q held	$206K
247	CARR	Carrier Global Corp	<0.1%	New	17q held	$204K
248	MA	Mastercard Inc - A	<0.1%	-24%	35q held	$203K
249	ADI	Analog Devices Inc	<0.1%	-21%	3q held	$202K
250	MRSH	Marsh & Mclennan Cos	<0.1%		27q held	$200K
251	H00501108	Aebi Schmidt Hldg AG	<0.1%		4q held	$131K
252	CLF	Cleveland-cliffs Inc	<0.1%		13q held	$127K
253	SNAP	Snap Inc - A	<0.1%		6q held	$100K
254	PLUG	Plug Power Inc	0.0%		28q held	$27K

Sort↑

1NVDA
port8.6%
val$942M
Nvidia Corp
this Q hold·29q
2MSFT
port6.7%
val$728M
Microsoft Corp
this Q hold·40q
3AMZN
port5.7%
val$620M
Amazon.com Inc
this Q hold·40q
4GOOG
port5.5%
val$595M
Alphabet Inc-cl C
this Q hold·40q
5LLY
port3.5%
val$386M
Eli Lilly & CO
this Q hold·40q
6NVT
port3.2%
val$348M
Nvent Elec Plc
this Q hold·33q
7AAPL
port3.0%
val$329M
Apple Inc
this Q hold·40q
8JPM
port2.8%
val$302M
Jpmorgan Chase & CO
this Q hold·40q
9V
port2.7%
val$292M
Visa Inc-class A Shares
this Q hold·40q
10GGG
port2.6%
val$287M
Graco Inc
this Q hold·40q
11LFUS
port2.5%
val$274M
Littelfuse Inc
this Q hold·34q
12TTC
port2.4%
val$261M
Toro CO
this Q hold·40q
13ENTG
port2.1%
val$234M
Entegris Inc
this Q hold·19q
14UNH
port2.1%
val$233M
Unitedhealth Group Inc
this Q -24%·40q
15TSM
port2.1%
val$227M
Taiwan Semiconductor-sp Adr
this Q hold·6q
16MSI
port2.1%
val$226M
Motorola Solutions Inc
this Q hold·32q
17ECL
port2.0%
val$217M
Ecolab Inc
this Q hold·40q
18WEC
port1.9%
val$209M
Wec Energy Group Inc
this Q hold·40q
19PANW
port1.9%
val$205M
Palo Alto Networks Inc
this Q hold·14q
20LNT
port1.9%
val$203M
Alliant Energy Corp
this Q hold·40q
21TECH
port1.8%
val$191M
Bio-techne Corp
this Q hold·40q
22META
port1.7%
val$188M
Meta Platforms Inc-class A
this Q hold·36q
23FAST
port1.7%
val$186M
Fastenal CO
this Q hold·40q
24SHW
port1.4%
val$152M
Sherwin-williams Co/the
this Q hold·30q
25CHRW
port1.3%
val$145M
C.h. Robinson Worldwide Inc
this Q hold·40q
26FUL
port1.3%
val$142M
H.b. Fuller Co.
this Q hold·40q
27VZ
port1.3%
val$139M
Verizon Communications Inc
this Q hold·40q
28WM
port1.2%
val$132M
Waste Management Inc
this Q +48%·10q
29ROK
port1.2%
val$128M
Rockwell Automation Inc
this Q hold·31q
30FISV
port1.0%
val$112M
Fiserv Inc
this Q hold·40q
31JNJ
port1.0%
val$107M
Johnson & Johnson
this Q -27%·40q
32AMP
port0.9%
val$98M
Ameriprise Financial Inc
this Q hold·40q
33CGNX
port0.9%
val$95M
Cognex Corp
this Q hold·6q
34HRL
port0.8%
val$84M
Hormel Foods Corp
this Q hold·40q
35CASY
port0.7%
val$72M
Casey's General Stores Inc
this Q hold·40q
36WFC
port0.7%
val$72M
Wells Fargo & CO
this Q -36%·40q
37AJG
port0.7%
val$72M
Arthur J Gallagher & CO
this Q New·6q
38ABT
port0.6%
val$66M
Abbott Laboratories
this Q hold·40q
39TXN
port0.6%
val$65M
Texas Instruments Inc
this Q hold·29q
40TNC
port0.5%
val$60M
Tennant CO
this Q hold·40q
41ISRG
port0.5%
val$58M
Intuitive Surgical Inc
this Q +47%·3q
42MMM
port0.5%
val$57M
3M CO
this Q hold·40q
43HD
port0.5%
val$54M
Home Depot Inc
this Q hold·40q
44TRV
port0.5%
val$52M
Travelers Cos Inc/the
this Q hold·40q
45AXP
port0.5%
val$49M
American Express CO
this Q hold·40q
46IDA
port0.4%
val$47M
Idacorp Inc
this Q hold·5q
47MEDP
port0.4%
val$46M
Medpace Holdings Inc
this Q hold·16q
48CME
port0.4%
val$43M
Cme Group Inc
this Q New·—1q
49DCI
port0.4%
val$42M
Donaldson CO Inc
this Q hold·40q
50WK
port0.4%
val$40M
Workiva Inc
this Q hold·40q
51PIPR
port0.4%
val$39M
Piper Sandler Cos
this Q hold·2q
52SFM
port0.4%
val$38M
Sprouts Farmers Market Inc
this Q +55%·2q
53PG
port0.3%
val$36M
Procter & Gamble Co/the
this Q hold·40q
54USB
port0.3%
val$34M
US Bancorp
this Q hold·40q
55ZTS
port0.3%
val$34M
Zoetis Inc
this Q +54%·32q
56QCOM
port0.3%
val$33M
Qualcomm Inc
this Q -62%·40q
57XEL
port0.3%
val$32M
Xcel Energy Inc
this Q hold·40q
58BSY
port0.3%
val$29M
Bentley Systems Inc-class B
this Q +311%·3q
59ADP
port0.3%
val$28M
Automatic Data Processing
this Q hold·40q
60MDT
port0.3%
val$28M
Medtronic Plc
this Q hold·40q
61GNRC
port0.3%
val$27M
Generac Holdings Inc
this Q hold·40q
6243849R105
port0.2%
val$22M
Honeywell Aerospace Inc
this Q New·—1q
63GLW
port0.2%
val$22M
Corning Inc
this Q hold·40q
64TGT
port0.2%
val$21M
Target Corp
this Q hold·40q
65SCHW
port0.2%
val$20M
Schwab (charles) Corp
this Q hold·40q
66GOOGL
port0.2%
val$19M
Alphabet Inc-cl A
this Q hold·40q
67CAT
port0.2%
val$19M
Caterpillar Inc
this Q hold·40q
68DIS
port0.2%
val$17M
Walt Disney Co/the
this Q -28%·40q
69CLFD
port0.1%
val$15M
Clearfield Inc
this Q -47%·15q
70BMI
port0.1%
val$15M
Badger Meter Inc
this Q hold·40q
71PFG
port0.1%
val$15M
Principal Financial Group
this Q hold·40q
72AIR
port0.1%
val$12M
Aar Corp
this Q hold·33q
73PLXS
port0.1%
val$12M
Plexus Corp
this Q hold·25q
74BRK/B
port0.1%
val$12M
Berkshire Hathaway Inc-cl B
this Q hold·40q
75ABBV
port0.1%
val$11M
Abbvie Inc
this Q hold·40q
76XOM
port0.1%
val$11M
Exxon Mobil Corp
this Q hold·40q
77G037AX101
port0.1%
val$11M
Ambarella Inc
this Q hold·2q
78KNF
port0.1%
val$11M
Knife River Corp
this Q hold·11q
79HSY
port0.1%
val$11M
Hershey Co/the
this Q hold·40q
80MINN
port0.1%
val$11M
Mairs & Power MN Muni Bond
this Q hold·5q
81ONB
port0.1%
val$10M
Old National Bancorp
this Q hold·34q
82JBTM
port0.1%
val$10M
Jbt Marel Corp
this Q hold·18q
83WTFC
port0.1%
val$9M
Wintrust Financial Corp
this Q hold·40q
84EMR
port0.1%
val$9M
Emerson Electric CO
this Q hold·40q
85QCRH
port0.1%
val$9M
Qcr Holdings Inc
this Q hold·38q
86PATK
port0.1%
val$9M
Patrick Industries Inc
this Q +64%·4q
87ASB
port0.1%
val$8M
Associated Banc-corp
this Q hold·40q
88VOO
port0.1%
val$8M
Vanguard S&p 500 Etf
this Q hold·5q
89RDNT
port0.1%
val$8M
Radnet Inc
this Q hold·5q
90IVV
port0.1%
val$8M
Ishares Core S&p 500 Etf
this Q +65%·40q
91AMAT
port0.1%
val$8M
Applied Materials Inc
this Q hold·38q
92SCHB
port0.1%
val$8M
Schwab US Broad Market Etf
this Q hold·40q
93BKH
port0.1%
val$7M
Black Hills Corp
this Q hold·38q
94LTH
port0.1%
val$7M
Life Time Group Holdings Inc
this Q hold·8q
95CVX
port0.1%
val$7M
Chevron Corp
this Q hold·40q
96MRK
port0.1%
val$7M
Merck & Co. Inc.
this Q hold·40q
97CFR
port0.1%
val$7M
Cullen/frost Bankers Inc
this Q hold·40q
98ALRS
port0.1%
val$6M
Alerus Financial Corp
this Q +156%·19q
99G4253H101
port0.1%
val$6M
James Hardie Inds Plc
this Q hold·3q
100SPY
port0.1%
val$6M
SS Spdr S&p 500 Etf Trust-us
this Q -70%·40q
101WWD
port0.1%
val$6M
Woodward Inc
this Q hold·16q
102TREX
port0.1%
val$6M
Trex Company Inc
this Q hold·4q
103HUBG
port0.1%
val$6M
Hub Group Inc-cl A
this Q hold·40q
104SOLV
port0.1%
val$6M
Solventum Corp
this Q hold·9q
105GBCI
port0.1%
val$5M
Glacier Bancorp Inc
this Q hold·40q
106OSK
port<0.1%
val$5M
Oshkosh Corp
this Q hold·40q
107CTAS
port<0.1%
val$5M
Cintas Corp
this Q +22%·25q
108G7S00T104
port<0.1%
val$4M
Pentair Plc
this Q hold·40q
109KHC
port<0.1%
val$4M
Kraft Heinz Co/the
this Q -44%·8q
110PII
port<0.1%
val$4M
Polaris Inc
this Q hold·36q
111SYY
port<0.1%
val$4M
Sysco Corp
this Q -51%·40q
112MCD
port<0.1%
val$4M
Mcdonald's Corp
this Q hold·40q
113BRK/A
port<0.1%
val$4M
Berkshire Hathaway Inc-cl A
this Q hold·40q
114NWE
port<0.1%
val$4M
Northwestern Energy Group IN
this Q -40%·28q
115HWKN
port<0.1%
val$4M
Hawkins Inc
this Q hold·40q
116VO
port<0.1%
val$3M
Vanguard Mid-cap Etf
this Q hold·10q
117GE
port<0.1%
val$3M
General Electric
this Q hold·18q
118VEA
port<0.1%
val$3M
Vanguard Ftse Developed Etf
this Q hold·4q
119COST
port<0.1%
val$3M
Costco Wholesale Corp
this Q hold·40q
120COP
port<0.1%
val$3M
Conocophillips
this Q hold·40q
121NKE
port<0.1%
val$3M
Nike Inc -cl B
this Q hold·39q
122APG
port<0.1%
val$2M
Api Group Corp
this Q hold·2q
123GIS
port<0.1%
val$2M
General Mills Inc
this Q -28%·40q
124CSCO
port<0.1%
val$2M
Cisco Systems Inc
this Q hold·40q
125INTC
port<0.1%
val$2M
Intel Corp
this Q hold·40q
126ORCL
port<0.1%
val$2M
Oracle Corp
this Q -56%·40q
127KO
port<0.1%
val$2M
Coca-cola Co/the
this Q hold·40q
128XYL
port<0.1%
val$2M
Xylem Inc
this Q hold·5q
129WMT
port<0.1%
val$2M
Walmart Inc
this Q hold·40q
130AMGN
port<0.1%
val$2M
Amgen Inc
this Q hold·40q
131EFA
port<0.1%
val$2M
Ishares Msci Eafe Etf
this Q hold·36q
132PFE
port<0.1%
val$2M
Pfizer Inc
this Q hold·40q
133RTX
port<0.1%
val$2M
Rtx Corp
this Q hold·25q
134VB
port<0.1%
val$2M
Vanguard Small-cap Etf
this Q hold·6q
135LOW
port<0.1%
val$2M
Lowe's Cos Inc
this Q hold·40q
136SOLS
port<0.1%
val$1M
Solstice Adv Materials Inc
this Q -25%·2q
137BMY
port<0.1%
val$1M
Bristol-myers Squibb CO
this Q hold·40q
138WAB
port<0.1%
val$1M
Wabtec Corp
this Q hold·6q
139AVGO
port<0.1%
val$1M
Broadcom Inc
this Q hold·14q
140CIEN
port<0.1%
val$1M
Ciena Corp
this Q hold·5q
141MGEE
port<0.1%
val$1M
Mge Energy Inc
this Q New·—1q
142QQQ
port<0.1%
val$1M
Invesco Qqq Trust Series 1
this Q hold·26q
143GLD
port<0.1%
val$1M
Spdr Gold Shares
this Q +146%·2q
144SYK
port<0.1%
val$1M
Stryker Corp
this Q hold·16q
145PEP
port<0.1%
val$1M
Pepsico Inc
this Q hold·40q
146UPS
port<0.1%
val$1M
United Parcel Service-cl B
this Q -34%·40q
147SNA
port<0.1%
val$1M
Snap-on Inc
this Q hold·40q
148BMO
port<0.1%
val$1M
Bank OF Montreal
this Q hold·16q
149CM
port<0.1%
val$1M
Can Imperial BK OF Commerce
this Q hold·16q
150VSAT
port<0.1%
val$1M
Viasat Inc
this Q hold·5q
151VCEL
port<0.1%
val$1M
Vericel Corp
this Q hold·28q
152PSX
port<0.1%
val$1M
Phillips 66
this Q hold·40q
153VONE
port<0.1%
val$1M
Vanguard Russell 1000
this Q hold·7q
154IDXX
port<0.1%
val$1M
Idexx Laboratories Inc
this Q hold·40q
155BDX
port<0.1%
val$1M
Becton Dickinson And CO
this Q hold·40q
156NEE
port<0.1%
val$1M
Nextera Energy Inc
this Q hold·40q
157BAC
port<0.1%
val$1M
Bank OF America Corp
this Q hold·40q
158KMB
port<0.1%
val$1M
Kimberly-clark Corp
this Q hold·40q
159VWO
port<0.1%
val$1M
Vanguard Ftse Emerging Marke
this Q hold·3q
160IWP
port<0.1%
val$1M
Ishares Russell Mid-cap Grow
this Q New·—1q
161IBM
port<0.1%
val$1M
Intl Business Machines Corp
this Q hold·37q
162AXGN
port<0.1%
val$1M
Axogen Inc
this Q hold·28q
163GEV
port<0.1%
val$994K
GE Vernova Inc
this Q hold·9q
164AMD
port<0.1%
val$957K
Advanced Micro Devices
this Q hold·14q
165UNP
port<0.1%
val$929K
Union Pacific Corp
this Q hold·40q
166IEX
port<0.1%
val$908K
Idex Corp
this Q hold·16q
167XLK
port<0.1%
val$852K
SS Technology Select Sector
this Q hold·31q
168BK
port<0.1%
val$851K
Bank OF New York Mellon Corp
this Q hold·6q
169SCHF
port<0.1%
val$847K
Schwab Intl Equity Etf
this Q hold·40q
170CB
port<0.1%
val$837K
Chubb Limited
this Q hold·20q
171IJH
port<0.1%
val$829K
Ishares Core S&p Midcap Etf
this Q New·20q
172NSC
port<0.1%
val$815K
Norfolk Southern Corp
this Q hold·40q
173OKLO
port<0.1%
val$814K
Oklo Inc
this Q hold·8q
174BIL
port<0.1%
val$791K
SS Spdr BB 1-3m T-bill Etf
this Q +24%·5q
175G0250X149
port<0.1%
val$743K
Amcor Plc
this Q hold·2q
176IWR
port<0.1%
val$718K
Ishares Russell Mid-cap Etf
this Q New·18q
177VGLT
port<0.1%
val$710K
Vanguard Long-term Treasury
this Q hold·2q
178WY
port<0.1%
val$707K
Weyerhaeuser CO
this Q hold·40q
179RSP
port<0.1%
val$660K
Invesco S&p 500 Equal Weight
this Q -42%·2q
180AWK
port<0.1%
val$658K
American Water Works CO Inc
this Q hold·16q
181BRC
port<0.1%
val$641K
Brady Corporation - CL A
this Q hold·16q
182SHEL
port<0.1%
val$631K
Shell Plc-adr
this Q hold·16q
183NVEC
port<0.1%
val$627K
Nve Corp
this Q hold·39q
184TMO
port<0.1%
val$622K
Thermo Fisher Scientific Inc
this Q hold·40q
185IWD
port<0.1%
val$621K
Ishares Russell 1000 Value E
this Q hold·16q
186ACWX
port<0.1%
val$575K
Ishares Msci Acwi EX US Etf
this Q hold·4q
187BA
port<0.1%
val$574K
Boeing Co/the
this Q hold·40q
188VTI
port<0.1%
val$572K
Vanguard Total Stock Mkt Etf
this Q hold·22q
189ZBH
port<0.1%
val$570K
Zimmer Biomet Holdings Inc
this Q hold·40q
190MDY
port<0.1%
val$561K
State Street Spdr S&p Midcap
this Q hold·12q
191DGII
port<0.1%
val$525K
Digi International Inc
this Q hold·32q
192TJX
port<0.1%
val$517K
Tjx Companies Inc
this Q hold·11q
193CAH
port<0.1%
val$504K
Cardinal Health Inc
this Q hold·20q
194G8994E103
port<0.1%
val$493K
Trane Technologies Plc
this Q hold·19q
195MU
port<0.1%
val$473K
Micron Technology Inc
this Q -41%·2q
196NEM
port<0.1%
val$467K
Newmont Corp
this Q hold·15q
197HBAN
port<0.1%
val$464K
Huntington Bancshares Inc
this Q hold·21q
198PM
port<0.1%
val$459K
Philip Morris International
this Q hold·40q
199IXN
port<0.1%
val$456K
Ishares Global Tech Etf
this Q hold·14q
200RGR
port<0.1%
val$454K
Sturm Ruger & CO Inc
this Q hold·16q
201IWM
port<0.1%
val$453K
Ishares Russell 2000 Etf
this Q New·13q
202SKYT
port<0.1%
val$453K
Skywater Technology Inc
this Q hold·21q
203BSX
port<0.1%
val$423K
Boston Scientific Corp
this Q hold·20q
204BBY
port<0.1%
val$417K
Best Buy CO Inc
this Q hold·17q
205NTRS
port<0.1%
val$417K
Northern Trust Corp
this Q hold·18q
206CRM
port<0.1%
val$416K
Salesforce Inc
this Q -95%·19q
207ITW
port<0.1%
val$415K
Illinois Tool Works
this Q hold·39q
208IWO
port<0.1%
val$410K
Ishares Russell 2000 Growth
this Q New·7q
209ADBE
port<0.1%
val$404K
Adobe Inc
this Q hold·40q
210VIG
port<0.1%
val$400K
Vanguard Dividend Apprec Etf
this Q -27%·38q
211CMI
port<0.1%
val$377K
Cummins Inc
this Q hold·15q
212USMV
port<0.1%
val$369K
Ishares Msci Usa Min Vol Fac
this Q hold·2q
213WAT
port<0.1%
val$360K
Waters Corp
this Q hold·2q
214IJR
port<0.1%
val$357K
Ishares Core S&p Small-cap E
this Q hold·18q
215VUG
port<0.1%
val$356K
Vanguard Growth Etf
this Q hold·20q
216MPC
port<0.1%
val$355K
Marathon Petroleum Corp
this Q hold·7q
217DE
port<0.1%
val$353K
Deere & CO
this Q hold·32q
218IWS
port<0.1%
val$348K
Ishares Russell Mid-cap Valu
this Q New·—1q
219UFCS
port<0.1%
val$346K
United Fire Group Inc
this Q hold·35q
220IVW
port<0.1%
val$345K
Ishares S&p 500 Growth Etf
this Q hold·4q
221HOG
port<0.1%
val$342K
Harley-davidson Inc
this Q hold·16q
222MOS
port<0.1%
val$339K
Mosaic Co/the
this Q -20%·16q
223LRCX
port<0.1%
val$331K
Lam Research Corp
this Q New·—1q
224AMT
port<0.1%
val$330K
American Tower Corp
this Q hold·34q
225MO
port<0.1%
val$329K
Altria Group Inc
this Q hold·34q
226BOH
port<0.1%
val$326K
Bank OF Hawaii Corp
this Q hold·14q
227VGT
port<0.1%
val$321K
Vanguard Info Tech Etf
this Q hold·10q
228EPD
port<0.1%
val$316K
Enterprise Products Partners
this Q hold·22q
229LHX
port<0.1%
val$300K
L3harris Technologies Inc
this Q hold·4q
230TKR
port<0.1%
val$291K
Timken CO
this Q hold·2q
231GILD
port<0.1%
val$287K
Gilead Sciences Inc
this Q hold·5q
232VV
port<0.1%
val$281K
Vanguard Large-cap Etf
this Q hold·9q
233BAX
port<0.1%
val$267K
Baxter International Inc
this Q -44%·40q
234IAU
port<0.1%
val$266K
Ishares Gold Trust
this Q hold·5q
235VEU
port<0.1%
val$266K
Vanguard Ftse All-world Ex-u
this Q hold·6q
236VRT
port<0.1%
val$261K
Vertiv Holdings Co-a
this Q New·—1q
237IVE
port<0.1%
val$260K
Ishares S&p 500 Value Etf
this Q hold·3q
238MSA
port<0.1%
val$257K
Msa Safety Inc
this Q hold·14q
239SLB
port<0.1%
val$256K
Slb Ltd
this Q hold·36q
240T
port<0.1%
val$234K
At&t Inc
this Q hold·40q
241DHR
port<0.1%
val$218K
Danaher Corp
this Q hold·23q
242MS
port<0.1%
val$217K
Morgan Stanley
this Q New·—1q
243RF
port<0.1%
val$211K
Regions Financial Corp
this Q New·14q
244ECG
port<0.1%
val$207K
Everus Construction Group
this Q New·—1q
245BP
port<0.1%
val$207K
BP Plc-spons Adr
this Q hold·36q
246AME
port<0.1%
val$206K
Ametek Inc
this Q New·19q
247CARR
port<0.1%
val$204K
Carrier Global Corp
this Q New·17q
248MA
port<0.1%
val$203K
Mastercard Inc - A
this Q -24%·35q
249ADI
port<0.1%
val$202K
Analog Devices Inc
this Q -21%·3q
250MRSH
port<0.1%
val$200K
Marsh & Mclennan Cos
this Q hold·27q
251H00501108
port<0.1%
val$131K
Aebi Schmidt Hldg AG
this Q hold·4q
252CLF
port<0.1%
val$127K
Cleveland-cliffs Inc
this Q hold·13q
253SNAP
port<0.1%
val$100K
Snap Inc - A
this Q hold·6q
254PLUG
port0.0%
val$27K
Plug Power Inc
this Q hold·28q

Beyond the 13F

as of 2026-06-30

Across Mairs & Power Funds’s registered funds — $6.48B disclosed in SEC Form N-PORT — just 92.5% sits in US-listed equity, the only slice a 13F reports. The other $484M is bonds, foreign listings and cash — none of which a 13F can show.

US-listed equity (13F-eligible) · $5.99BBonds & loans · $241MForeign-listed equity · $237MCash & equivalents · $7M

Where the hidden money is

United Kingdom		3.3%
Ireland		0.2%
United States		0.2%

Largest positions no 13F shows

nVent Electric PLC · United Kingdom · USD	$196M
Ambarella Inc · United States · USD	$11M
nVent Electric PLC · United Kingdom · USD	$9M
nVent Electric PLC · United Kingdom · USD	$9M
James Hardie Industries PLC · Ireland · USD	$6M
Medtronic PLC · Ireland · USD	$6M
First American Government Obli · United States · USD	$5M
MERCURY GENERAL CORP · United States · USD	$4M

From SEC Form N-PORT, which registered funds file with their full portfolio — every currency, asset class and short. Covers 3 funds. The percentage above is the composition of those funds, not a ratio between two filings: a 13F spans every discretionary account but only US-listed securities, while N-PORT covers only the registered funds but every asset inside them — different universes, so the totals are not comparable (the 13F itself reports $10.90B for 2026-06-30). None of this feeds the backtest above, which stays a pure 13F clone.

2026Q2 moves, by size (58)(expand ↓)

Ticker	Issuer	Move	% Port.	Δ Shares	Value
UNH	Unitedhealth Group Inc	TRIM	2.1%	-24%	$233M
JNJ	Johnson & Johnson	TRIM	1.0%	-27%	$107M
WM	Waste Management Inc	ADD	1.2%	+48%	$132M
WFC	Wells Fargo & CO	TRIM	0.7%	-36%	$72M
AJG	Arthur J Gallagher & CO	NEW	0.7%	+100%	$72M
QCOM	Qualcomm Inc	TRIM	0.3%	-62%	$33M
ISRG	Intuitive Surgical Inc	ADD	0.5%	+47%	$58M
HON	Honeywell International Inc	EXIT	0.5%	-100%	$0
CME	Cme Group Inc	NEW	0.4%	+100%	$43M
ZTS	Zoetis Inc	ADD	0.3%	+54%	$34M
SFM	Sprouts Farmers Market Inc	ADD	0.4%	+55%	$38M
BSY	Bentley Systems Inc-class B	ADD	0.3%	+311%	$29M
DIS	Walt Disney Co/the	TRIM	0.2%	-28%	$17M
43849R105	Honeywell Aerospace Inc	NEW	0.2%	+100%	$22M
CLFD	Clearfield Inc	TRIM	0.1%	-47%	$15M
SPY	SS Spdr S&p 500 Etf Trust-us	TRIM	0.1%	-70%	$6M
CRM	Salesforce Inc	TRIM	<0.1%	-95%	$416K
PATK	Patrick Industries Inc	ADD	0.1%	+64%	$9M
IVV	Ishares Core S&p 500 Etf	ADD	0.1%	+65%	$8M
KHC	Kraft Heinz Co/the	TRIM	<0.1%	-44%	$4M
SYY	Sysco Corp	TRIM	<0.1%	-51%	$4M
ALRS	Alerus Financial Corp	ADD	0.1%	+156%	$6M
NWE	Northwestern Energy Group IN	TRIM	<0.1%	-40%	$4M
ORCL	Oracle Corp	TRIM	<0.1%	-56%	$2M
CTAS	Cintas Corp	ADD	<0.1%	+22%	$5M
GIS	General Mills Inc	TRIM	<0.1%	-28%	$2M
UPS	United Parcel Service-cl B	TRIM	<0.1%	-34%	$1M
SOLS	Solstice Adv Materials Inc	TRIM	<0.1%	-25%	$1M
MGEE	Mge Energy Inc	NEW	<0.1%	+100%	$1M
GLD	Spdr Gold Shares	ADD	<0.1%	+146%	$1M
RSP	Invesco S&p 500 Equal Weight	TRIM	<0.1%	-42%	$660K
IWP	Ishares Russell Mid-cap Grow	NEW	<0.1%	+100%	$1M
IJH	Ishares Core S&p Midcap Etf	NEW	<0.1%	+100%	$829K
IWR	Ishares Russell Mid-cap Etf	NEW	<0.1%	+100%	$718K
BIL	SS Spdr BB 1-3m T-bill Etf	ADD	<0.1%	+24%	$791K
VIG	Vanguard Dividend Apprec Etf	TRIM	<0.1%	-27%	$400K
MOS	Mosaic Co/the	TRIM	<0.1%	-20%	$339K
IWO	Ishares Russell 2000 Growth	NEW	<0.1%	+100%	$410K
IWM	Ishares Russell 2000 Etf	NEW	<0.1%	+100%	$453K
MU	Micron Technology Inc	TRIM	<0.1%	-41%	$473K
BAX	Baxter International Inc	TRIM	<0.1%	-44%	$267K
IWS	Ishares Russell Mid-cap Valu	NEW	<0.1%	+100%	$348K
LRCX	Lam Research Corp	NEW	<0.1%	+100%	$331K
MA	Mastercard Inc - A	TRIM	<0.1%	-24%	$203K
SEIC	Sei Investments Company	EXIT	<0.1%	-100%	$0
PATH	Uipath Inc - Class A	EXIT	<0.1%	-100%	$0
IBTG	Ishares Ibonds Dec 2026 Term	EXIT	<0.1%	-100%	$0
ULTA	Ulta Beauty Inc	EXIT	<0.1%	-100%	$0
RF	Regions Financial Corp	NEW	<0.1%	+100%	$211K
AME	Ametek Inc	NEW	<0.1%	+100%	$206K
VRT	Vertiv Holdings Co-a	NEW	<0.1%	+100%	$261K
MS	Morgan Stanley	NEW	<0.1%	+100%	$217K
CARR	Carrier Global Corp	NEW	<0.1%	+100%	$204K
ECG	Everus Construction Group	NEW	<0.1%	+100%	$207K
ADI	Analog Devices Inc	TRIM	<0.1%	-21%	$202K
ACN	Accenture Plc Ireland	EXIT	<0.1%	-100%	$0
MUR	Murphy Oil Corp	EXIT	<0.1%	-100%	$0
UTHR	United Therapeutics Corp	EXIT	<0.1%	-100%	$0

TRIMUNH
2.1%
Unitedhealth Group Inc
Δ -24%·$233M
TRIMJNJ
1.0%
Johnson & Johnson
Δ -27%·$107M
ADDWM
1.2%
Waste Management Inc
Δ +48%·$132M
TRIMWFC
0.7%
Wells Fargo & CO
Δ -36%·$72M
NEWAJG
0.7%
Arthur J Gallagher & CO
Δ +100%·$72M
TRIMQCOM
0.3%
Qualcomm Inc
Δ -62%·$33M
ADDISRG
0.5%
Intuitive Surgical Inc
Δ +47%·$58M
EXITHON
0.5%
Honeywell International Inc
Δ -100%·$0
NEWCME
0.4%
Cme Group Inc
Δ +100%·$43M
ADDZTS
0.3%
Zoetis Inc
Δ +54%·$34M
ADDSFM
0.4%
Sprouts Farmers Market Inc
Δ +55%·$38M
ADDBSY
0.3%
Bentley Systems Inc-class B
Δ +311%·$29M
TRIMDIS
0.2%
Walt Disney Co/the
Δ -28%·$17M
NEW43849R105
0.2%
Honeywell Aerospace Inc
Δ +100%·$22M
TRIMCLFD
0.1%
Clearfield Inc
Δ -47%·$15M
TRIMSPY
0.1%
SS Spdr S&p 500 Etf Trust-us
Δ -70%·$6M
TRIMCRM
<0.1%
Salesforce Inc
Δ -95%·$416K
ADDPATK
0.1%
Patrick Industries Inc
Δ +64%·$9M
ADDIVV
0.1%
Ishares Core S&p 500 Etf
Δ +65%·$8M
TRIMKHC
<0.1%
Kraft Heinz Co/the
Δ -44%·$4M
TRIMSYY
<0.1%
Sysco Corp
Δ -51%·$4M
ADDALRS
0.1%
Alerus Financial Corp
Δ +156%·$6M
TRIMNWE
<0.1%
Northwestern Energy Group IN
Δ -40%·$4M
TRIMORCL
<0.1%
Oracle Corp
Δ -56%·$2M
ADDCTAS
<0.1%
Cintas Corp
Δ +22%·$5M
TRIMGIS
<0.1%
General Mills Inc
Δ -28%·$2M
TRIMUPS
<0.1%
United Parcel Service-cl B
Δ -34%·$1M
TRIMSOLS
<0.1%
Solstice Adv Materials Inc
Δ -25%·$1M
NEWMGEE
<0.1%
Mge Energy Inc
Δ +100%·$1M
ADDGLD
<0.1%
Spdr Gold Shares
Δ +146%·$1M
TRIMRSP
<0.1%
Invesco S&p 500 Equal Weight
Δ -42%·$660K
NEWIWP
<0.1%
Ishares Russell Mid-cap Grow
Δ +100%·$1M
NEWIJH
<0.1%
Ishares Core S&p Midcap Etf
Δ +100%·$829K
NEWIWR
<0.1%
Ishares Russell Mid-cap Etf
Δ +100%·$718K
ADDBIL
<0.1%
SS Spdr BB 1-3m T-bill Etf
Δ +24%·$791K
TRIMVIG
<0.1%
Vanguard Dividend Apprec Etf
Δ -27%·$400K
TRIMMOS
<0.1%
Mosaic Co/the
Δ -20%·$339K
NEWIWO
<0.1%
Ishares Russell 2000 Growth
Δ +100%·$410K
NEWIWM
<0.1%
Ishares Russell 2000 Etf
Δ +100%·$453K
TRIMMU
<0.1%
Micron Technology Inc
Δ -41%·$473K
TRIMBAX
<0.1%
Baxter International Inc
Δ -44%·$267K
NEWIWS
<0.1%
Ishares Russell Mid-cap Valu
Δ +100%·$348K
NEWLRCX
<0.1%
Lam Research Corp
Δ +100%·$331K
TRIMMA
<0.1%
Mastercard Inc - A
Δ -24%·$203K
EXITSEIC
<0.1%
Sei Investments Company
Δ -100%·$0
EXITPATH
<0.1%
Uipath Inc - Class A
Δ -100%·$0
EXITIBTG
<0.1%
Ishares Ibonds Dec 2026 Term
Δ -100%·$0
EXITULTA
<0.1%
Ulta Beauty Inc
Δ -100%·$0
NEWRF
<0.1%
Regions Financial Corp
Δ +100%·$211K
NEWAME
<0.1%
Ametek Inc
Δ +100%·$206K
NEWVRT
<0.1%
Vertiv Holdings Co-a
Δ +100%·$261K
NEWMS
<0.1%
Morgan Stanley
Δ +100%·$217K
NEWCARR
<0.1%
Carrier Global Corp
Δ +100%·$204K
NEWECG
<0.1%
Everus Construction Group
Δ +100%·$207K
TRIMADI
<0.1%
Analog Devices Inc
Δ -21%·$202K
EXITACN
<0.1%
Accenture Plc Ireland
Δ -100%·$0
EXITMUR
<0.1%
Murphy Oil Corp
Δ -100%·$0
EXITUTHR
<0.1%
United Therapeutics Corp
Δ -100%·$0

About Mairs & Power Funds

Mairs & Power is a St. Paul, Minnesota-based investment manager with roots going back to 1931, operating a suite of mutual funds — most prominently the Mairs & Power Growth Fund — built around a regional conviction that proximity to a company produces analytical edge. The firm's historical identity leaned heavily on deep familiarity with Upper Midwest businesses: long-held positions in companies like Graco (GGG) reflect that heritage, and low turnover has been a defining characteristic. The current 13F, however, shows a portfolio that has migrated substantially toward large-cap technology — NVDA, MSFT, AMZN, and GOOG collectively represent over 25% of disclosed equity — suggesting the regional-affinity thesis now competes with index-weight gravity at scale. With 245 positions and top-5 concentration near 29%, the book reads as moderately concentrated but not dramatically so. The 13F captures the long equity sleeve cleanly; Mairs & Power does not run a derivatives-heavy or short-selling strategy, so filing-to-reality drift is minimal. The clone backtest showing roughly -2.6% annual excess return versus SPY over twelve years is consistent with a low-turnover active manager absorbing fees without generating sufficient alpha to offset them.

2026Q2 brief

Mairs & Power's $10.9B, 254-position Midwest-rooted fund made several pointed moves in 2026Q2. The most significant add was WM (Waste Management), up 48% to 1.2% (~$132M) — a deliberate tilt toward defensive infrastructure compounders. ISRG (+47% to 0.5%) and SFM (Sprouts Farmers Market, +55% to 0.35%) round out a cluster of quality-growth adds, while BSY (Bentley Systems) surged 311% to 0.3%, an aggressive build in infrastructure software. On the other side, UNH was trimmed 24% to 2.1% and JNJ cut 27% to 1.0% — consistent with broad super-investor caution on healthcare. WFC was reduced 36%, and QCOM slashed 62% to 0.3%, the latter a clear semiconductor rotation call. New positions in AJG (Arthur J. Gallagher, 0.66%) and CME (0.4%) add insurance brokerage and exchange exposure. The mega-cap tech core — NVDA (8.6%), MSFT (6.7%), AMZN (5.7%), GOOG (5.5%) — remains intact. Watch whether the healthcare underweights in UNH and JNJ continue deepening next quarter.

AI-generated. Not investment advice.

Filing history

Mairs & Power Funds's disclosed 13F portfolio value and position count by quarter — the trajectory across every SEC filing.

Disclosed portfolio value · Q3 2023 – Q2 2026now $10.90B · peak $10.90B (Q2 2026)

Quarter	Positions	Portfolio value
Q2 2026 — what changed →	254	$10.90B
Q1 2026 — what changed →	245	$9.79B
Q4 2025 — what changed →	243	$10.39B
Q3 2025 — what changed →	248	$10.64B
Q2 2025 — what changed →	235	$10.13B
Q1 2025 — what changed →	221	$9.61B
Q4 2024 holdings	229	$10.34B
Q3 2024 holdings	228	$10.63B
Q2 2024 holdings	222	$10.35B
Q1 2024 holdings	226	$10.33B
Q4 2023 holdings	231	$9.49B
Q3 2023 holdings	214	$8.52B

Values as disclosed at each quarter end. Older filings on EDGAR.

Multibaggers Mairs & Power Funds held

Stocks up 5x or more since Mairs & Power Funds first held them at conviction size — the holding record behind the returns. Longest unbroken run and largest book weight are shown for each.

NVDA488xNVIDIA CORP28q straight · peak 9.78% · still holds
TSM27.7xTAIWAN SEMICONDUCTOR-SP ADR5q straight · peak 1.68% · still holds
AAPL19.9xAPPLE INC49q straight · peak 3.28% · still holds
CASY14.0xCASEY'S GENERAL STORES INC49q straight · peak 0.71% · still holds
AMZN13.8xAMAZON.COM INC49q straight · peak 5.76% · still holds
MSFT11.2xMICROSOFT CORP49q straight · peak 9.84% · still holds

Six biggest of 20. Price multiple since the first quarter we observed a conviction holding (2014Q1 at the earliest), not Mairs & Power Funds's realized return — entry price and trades between filings aren't disclosed. Peak weight is share of disclosed US 13F book. All 129 multibaggers the cohort held →

Frequently asked questions

What stocks does Mairs & Power Funds own?: As of 2026Q2, Mairs & Power Funds's 13F discloses 254 positions worth $10.90B. The top five holdings: NVDA (8.6%), MSFT (6.7%), AMZN (5.7%), GOOG (5.5%), LLY (3.5%). 13F filings cover long US-listed equities only — cash, bonds, shorts, and non-US positions are not disclosed.
What did Mairs & Power Funds buy this quarter?: In 2026Q2, the filing shows 17 new positions and 11 additions to existing holdings. The largest positions touched by buying: WM, AJG, ISRG, CME, SFM.
How big is Mairs & Power Funds's portfolio?: $10.90B across 254 positions per the latest 13F (filed Aug 14, 2026). The top five holdings account for 30% of the disclosed book.

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Long US equity 13F-HR filings only — no shorts, no derivatives. SEC filings at EDGAR (CIK 0001070134). Not investment advice.