# Mairs & Power portfolio: Q2 2026 13F holdings | moatshark

Andrew Adams’s Mairs & Power: $11bn in 232 US holdings at Q2 2026, with buys and sells. Top: NVIDIA, Microsoft, Amazon.com, Alphabet, Eli Lilly & Co.

In Q2 2026, Mairs & Power held 232 US-listed stocks worth $11bn. Its biggest move was adding to Palo Alto Networks (13% more shares, now 1.9%), followed by adding to Alphabet (4% more shares, now 5.6%). It started 11 new positions and sold out of 8. Its largest holding is NVIDIA at 8.6%.

13F for the quarter ending 2026-06-30, filed 2026-08-14 ([filing](https://www.sec.gov/Archives/edgar/data/1070134/000117266126003496/0001172661-26-003496-index.htm)). $11bn in US-listed holdings.

## 13F holdings

| Company | Value | Portfolio | Change | Q1 2026 |
| --- | --- | --- | --- | --- |
| NVIDIA (NVDA) | $942m | 8.6% | Trimmed -1.1% | 8.5% |
| Microsoft (MSFT) | $728m | 6.7% | Added +0.4% | 7.3% |
| Amazon.com (AMZN) | $620m | 5.7% | Trimmed -0.1% | 5.5% |
| Alphabet (GOOG) | $614m | 5.6% | Added +4.2% | 4.9% |
| Eli Lilly & Co (LLY) | $386m | 3.5% | Trimmed -1.3% | 3.1% |
| Nvent Electric (NVT) | $348m | 3.2% | Trimmed -0.7% | 2.5% |
| Apple (AAPL) | $329m | 3.0% | Trimmed -5.8% | 3.1% |
| JPMorgan Chase (JPM) | $302m | 2.8% | Trimmed -12% | 3.2% |
| Visa (V) | $292m | 2.7% | Added +1.3% | 2.6% |
| Graco (GGG) | $287m | 2.6% | Trimmed -0.5% | 3.3% |
| Littelfuse (LFUS) | $274m | 2.5% | Trimmed -17% | 2.5% |
| Toro (TTC) | $261m | 2.4% | Trimmed -1.6% | 2.6% |
| Entegris (ENTG) | $234m | 2.1% | Trimmed -3.1% | 1.6% |
| UnitedHealth Group (UNH) | $233m | 2.1% | Trimmed -24% | 2.0% |
| Taiwan Semiconductor Manufacturing (TSM) | $227m | 2.1% | Trimmed -2.1% | 1.7% |
| Motorola Solutions (MSI) | $226m | 2.1% | Added +0.8% | 2.4% |
| Ecolab (ECL) | $217m | 2.0% | Added +2.1% | 2.1% |
| WEC Energy Group (WEC) | $209m | 1.9% | Trimmed -6.4% | 2.3% |
| Palo Alto Networks (PANW) | $205m | 1.9% | Added +13% | 0.9% |
| Alliant Energy (LNT) | $203m | 1.9% | Trimmed -8.0% | 2.1% |
| Bio-Techne (TECH) | $191m | 1.8% | Trimmed -1.8% | 1.5% |
| Meta Platforms (META) | $188m | 1.7% | Added +2.5% | 1.9% |
| Fastenal (FAST) | $186m | 1.7% | Trimmed -1.3% | 1.9% |
| Sherwin Williams (SHW) | $152m | 1.4% | Added +0.6% | 1.4% |
| CH Robinson Worldwide (CHRW) | $145m | 1.3% | Trimmed -9.1% | 1.4% |
| Fuller HB (FUL) | $142m | 1.3% | Added +3.1% | 1.5% |
| Verizon Communications (VZ) | $139m | 1.3% | Trimmed -0.7% | 1.7% |
| Waste Management (WM) | $132m | 1.2% | Added +48% | 0.9% |
| Rockwell Automation (ROK) | $128m | 1.2% | Trimmed -9.1% | 1.0% |
| Fiserv (FISV) | $112m | 1.0% | Added +6.5% | 1.2% |
| Johnson & Johnson (JNJ) | $107m | 1.0% | Trimmed -27% | 1.4% |
| Ameriprise Financial (AMP) | $98.2m | 0.9% | Added +8.6% | 0.9% |
| Cognex (CGNX) | $94.7m | 0.9% | Added +6.9% | 0.6% |
| Hormel Foods (HRL) | $84.3m | 0.8% | Trimmed -0.6% | 0.8% |
| Casey’s General Stores (CASY) | $72.4m | 0.7% | Trimmed -5.0% | 0.7% |
| Wells Fargo & Company (WFC) | $72.1m | 0.7% | Trimmed -36% | 1.1% |
| Arthur J Gallagher & Co (AJG) | $71.5m | 0.7% | New | – |
| Abbott Laboratories (ABT) | $66.2m | 0.6% | Added +1.1% | 0.8% |
| Texas Instruments (TXN) | $64.8m | 0.6% | Trimmed -5.9% | 0.5% |
| Tennant (TNC) | $59.7m | 0.6% | Trimmed -15% | 0.6% |
| Intuitive Surgical (ISRG) | $58.2m | 0.5% | Added +47% | 0.5% |
| 3m (MMM) | $56.6m | 0.5% | Trimmed -0.7% | 0.5% |
| Home Depot (HD) | $53.8m | 0.5% | Trimmed -0.6% | 0.5% |
| Travelers Companies (TRV) | $51.7m | 0.5% | Added +9.9% | 0.4% |
| American Express (AXP) | $49.3m | 0.5% | Trimmed -2.2% | 0.5% |
| Idacorp (IDA) | $46.9m | 0.4% | Added +2.9% | 0.4% |
| Medpace Holdings (MEDP) | $45.9m | 0.4% | Added +1.2% | 0.4% |
| CME Group (CME) | $43.2m | 0.4% | New | – |
| Donaldson (DCI) | $41.6m | 0.4% | Trimmed -7.1% | 0.4% |
| Workiva (WK) | $40.2m | 0.4% | Added +16% | 0.4% |
| Piper Sandler Companies (PIPR) | $39.4m | 0.4% | Trimmed -0.3% | 0.4% |
| Sprouts Farmers Market (SFM) | $38.2m | 0.3% | Added +55% | 0.2% |
| Procter & Gamble (PG) | $36.0m | 0.3% | Added +0.8% | 0.4% |
| US Bancorp (USB) | $33.9m | 0.3% | Trimmed -6.7% | 0.3% |
| Zoetis (ZTS) | $33.6m | 0.3% | Added +54% | 0.4% |
| Qualcomm (QCOM) | $33.2m | 0.3% | Trimmed -62% | 0.6% |
| Xcel Energy (XEL) | $31.5m | 0.3% | Trimmed -2.4% | 0.3% |
| Bentley Systems (BSY) | $29.0m | 0.3% | Added +311% | 0.1% |
| Automatic Data Processing (ADP) | $28.5m | 0.3% | Added +2.2% | 0.3% |
| Medtronic (MDT) | $28.4m | 0.3% | Trimmed -9.6% | 0.4% |
| Generac Holdings (GNRC) | $27.3m | 0.3% | Trimmed -6.4% | 0.2% |
| Honeywell Aerospace (HONA) | $22.1m | 0.2% | New | – |
| Corning (GLW) | $21.8m | 0.2% | Trimmed -3.2% | 0.1% |
| Target (TGT) | $20.8m | 0.2% | Trimmed -5.7% | 0.2% |
| Charles Schwab (SCHW) | $20.0m | 0.2% | Trimmed -13% | 0.2% |
| Caterpillar (CAT) | $19.3m | 0.2% | Trimmed -1.9% | 0.1% |
| Walt Disney (DIS) | $16.7m | 0.1% | Trimmed -28% | 0.2% |
| Berkshire Hathaway (BRK.B) | $15.5m | 0.1% | Trimmed -1.4% | 0.1% |
| Ishares Tr (EFA) | $15.5m | 0.1% | Added +100% | 0.1% |
| Clearfield (CLFD) | $15.3m | 0.1% | Trimmed -47% | 0.2% |
| Badger Meter (BMI) | $14.8m | 0.1% | Trimmed -5.1% | 0.2% |
| Principal Financial Group (PFG) | $14.6m | 0.1% | Trimmed -17% | 0.1% |
| Vanguard Index Fds (VOO) | $14.2m | 0.1% | Added +82% | 0.1% |
| Aar (AIR) | $12.0m | 0.1% | Trimmed -6.1% | 0.1% |
| Plexus (PLXS) | $11.8m | 0.1% | Trimmed -14% | 0.1% |
| Abbvie (ABBV) | $11.2m | 0.1% | Trimmed -1.4% | 0.1% |
| Exxon Mobil (EXMOC) | $11.2m | 0.1% | Trimmed -2.1% | 0.1% |
| Ambarella (AMBA) | $10.8m | 0.1% | Added +7.5% | 0.1% |
| Knife River (KNF) | $10.7m | 0.1% | Trimmed -4.5% | 0.1% |
| Hershey (HSY) | $10.7m | 0.1% | Trimmed -5.4% | 0.1% |
| Trust for Professional Manag (MINN) | $10.5m | 0.1% | Added +15% | 0.1% |
| Old National Bancorp Ind (ONB) | $10.1m | 0.1% | Trimmed -10% | 0.1% |
| JBT Marel (JBTM) | $9.8m | 0.1% | Added +14% | 0.1% |
| Wintrust Financial (WTFC) | $9.4m | 0.1% | Added +1.6% | 0.1% |
| Emerson Electric (EMR) | $9.1m | 0.1% | Trimmed -2.3% | 0.1% |
| Qcr Holdings (QCRH) | $8.9m | 0.1% | Unchanged | 0.1% |
| Patrick Industries (PATK) | $8.5m | 0.1% | Added +64% | 0.1% |
| Schwab Strategic Tr (SCHB) | $8.4m | 0.1% | Unchanged | 0.1% |
| Associated Banc-Corp (ASB) | $8.3m | 0.1% | Unchanged | 0.1% |
| Radnet (RDNT) | $8.2m | 0.1% | Unchanged | 0.1% |
| Applied Materials (AMAT) | $8.0m | 0.1% | Trimmed -2.8% | 0.0% |
| Black Hills (BKH) | $7.3m | 0.1% | Unchanged | 0.1% |
| Life Time Group Holdings (LTH) | $7.0m | 0.1% | Unchanged | 0.1% |
| Chevron (CVX) | $6.8m | 0.1% | Added +5.5% | 0.1% |
| Merck & Co. (MRK) | $6.6m | 0.1% | Added +2.3% | 0.1% |
| Cullen/Frost Bankers (CFR) | $6.6m | 0.1% | Unchanged | 0.1% |
| Alerus Financial (ALRS) | $6.3m | 0.1% | Added +156% | 0.0% |
| James Hardie Industries (JHX) | $6.3m | 0.1% | Trimmed 0.0% | 0.1% |
| Spdr S&P 500 Etf Trust (SPY) | $6.2m | 0.1% | Trimmed -69% | 0.2% |
| Woodward (WWD) | $6.0m | 0.1% | Unchanged | 0.1% |
| Trex (TREX) | $5.8m | 0.1% | Unchanged | 0.0% |
| Hub Group (HUBG) | $5.7m | 0.1% | Trimmed -19% | 0.1% |
| Solventum (SOLV) | $5.6m | 0.1% | Trimmed -0.1% | 0.1% |
| Glacier Bancorp (GBCI) | $5.5m | 0.1% | Unchanged | 0.1% |
| Oshkosh (OSK) | $5.1m | 0.1% | Unchanged | 0.1% |
| Cintas (CTAS) | $4.6m | 0.0% | Added +22% | 0.0% |
| Pentair (PNR) | $4.4m | 0.0% | Trimmed -0.9% | 0.1% |
| Kraft Heinz (KHC) | $4.2m | 0.0% | Trimmed -44% | 0.1% |
| Polaris (PII) | $4.2m | 0.0% | Trimmed -1.9% | 0.0% |
| Sysco (SYY) | $4.1m | 0.0% | Trimmed -51% | 0.1% |
| McDonald’s (MCD) | $3.8m | 0.0% | Trimmed -1.7% | 0.1% |
| Northwestern Energy Group (NWE) | $3.7m | 0.0% | Trimmed -40% | 0.1% |
| Hawkins (HWKN) | $3.6m | 0.0% | Trimmed -3.1% | 0.0% |
| GE Aerospace (GE) | $2.8m | 0.0% | Unchanged | 0.0% |
| Vanguard Tax-Managed Fds (VEA) | $2.8m | 0.0% | Trimmed -13% | 0.0% |
| Costco Wholesale (COST) | $2.8m | 0.0% | Unchanged | 0.0% |
| ConocoPhillips (COP) | $2.7m | 0.0% | Trimmed -0.7% | 0.0% |
| Nike (NKE) | $2.6m | 0.0% | Trimmed -3.2% | 0.0% |
| Api Group (APG) | $2.5m | 0.0% | Unchanged | 0.0% |
| General Mills (GIS) | $2.4m | 0.0% | Trimmed -28% | 0.0% |
| Cisco Systems (CSCO) | $2.3m | 0.0% | Trimmed -0.5% | 0.0% |
| Intel (INTC) | $2.0m | 0.0% | Added +1.4% | 0.0% |
| Oracle (ORCL) | $2.0m | 0.0% | Trimmed -56% | 0.1% |
| Coca-Cola (KO) | $1.9m | 0.0% | Added +0.7% | 0.0% |
| Xylem (XYL) | $1.8m | 0.0% | Added +9.7% | 0.0% |
| Vanguard Scottsdale Fds (VGSH) | $1.8m | 0.0% | Unchanged | 0.0% |
| Walmart (WMT) | $1.8m | 0.0% | Added +0.6% | 0.0% |
| Amgen (AMGN) | $1.8m | 0.0% | Trimmed -0.8% | 0.0% |
| Pfizer (PFE) | $1.6m | 0.0% | Trimmed -5.8% | 0.0% |
| RTX (RTX) | $1.6m | 0.0% | Trimmed -1.4% | 0.0% |
| Lowe’s (LOW) | $1.5m | 0.0% | Trimmed -0.3% | 0.0% |
| Solstice Advanced Materials (SOLS) | $1.5m | 0.0% | Trimmed -25% | 0.0% |
| Bristol-Myers Squibb (BMY) | $1.4m | 0.0% | Added +2.0% | 0.0% |
| Wabtec (WAB) | $1.4m | 0.0% | Unchanged | 0.0% |
| Broadcom (AVGO) | $1.4m | 0.0% | Added +3.7% | 0.0% |
| Ciena (CIEN) | $1.4m | 0.0% | Unchanged | 0.0% |
| Mge Energy (MGEE) | $1.3m | 0.0% | New | – |
| Invesco QQQ Tr (QQQ) | $1.3m | 0.0% | Added +0.6% | 0.0% |
| Vanguard International Equity Index F (VT) | $1.3m | 0.0% | Trimmed -13% | 0.0% |
| Spdr Gold Trust (GLD) | $1.3m | 0.0% | Added +146% | 0.0% |
| Stryker (SYK) | $1.3m | 0.0% | Trimmed -2.0% | 0.0% |
| Pepsico (PEP) | $1.2m | 0.0% | Added +2.2% | 0.0% |
| United Parcel Service (UPS) | $1.2m | 0.0% | Trimmed -34% | 0.0% |
| Snap-on (SNA) | $1.2m | 0.0% | Trimmed -3.2% | 0.0% |
| Bank Montreal Que (BMO) | $1.2m | 0.0% | Unchanged | 0.0% |
| Canadian Imperial Bk Communications (CM) | $1.2m | 0.0% | Unchanged | 0.0% |
| Viasat (VSAT) | $1.2m | 0.0% | Unchanged | 0.0% |
| Vericel (VCEL) | $1.2m | 0.0% | Unchanged | 0.0% |
| Phillips 66 (PSX) | $1.1m | 0.0% | Trimmed -0.8% | 0.0% |
| IDEXX Laboratories (IDXX) | $1.1m | 0.0% | Unchanged | 0.0% |
| Becton Dickinson & Co (BDX) | $1.1m | 0.0% | Unchanged | 0.0% |
| Nextera Energy (NEE) | $1.1m | 0.0% | Trimmed -1.4% | 0.0% |
| Bank of America (BAC) | $1.1m | 0.0% | Trimmed -14% | 0.0% |
| Kimberly-Clark (KMB) | $1.0m | 0.0% | Trimmed -1.4% | 0.0% |
| International Business Machines (IBM) | $1.0m | 0.0% | Unchanged | 0.0% |
| Axogen (AXGN) | $1.0m | 0.0% | Unchanged | 0.0% |
| Ge Vernova (GEV) | $994k | 0.0% | Unchanged | 0.0% |
| Advanced Micro Devices (AMD) | $957k | 0.0% | Trimmed -15% | 0.0% |
| Union Pacific (UNP) | $929k | 0.0% | Trimmed -18% | 0.0% |
| IDEX (IEX) | $908k | 0.0% | Unchanged | 0.0% |
| Select Sector Spdr Tr (XLK) | $852k | 0.0% | Unchanged | 0.0% |
| BNY (BK) | $851k | 0.0% | Unchanged | 0.0% |
| Chubb (CB) | $837k | 0.0% | Added +0.7% | 0.0% |
| Norfolk Southern (NSC) | $815k | 0.0% | Trimmed -4.6% | 0.0% |
| Oklo (OKLO) | $814k | 0.0% | Unchanged | 0.0% |
| Spdr Series Trust (BIL) | $791k | 0.0% | Added +24% | 0.0% |
| Amcor (AMCR) | $743k | 0.0% | Unchanged | 0.0% |
| Weyerhaeuser (WY) | $707k | 0.0% | Trimmed -18% | 0.0% |
| Invesco Exchange Traded Fd T (RSP) | $660k | 0.0% | Trimmed -42% | 0.0% |
| American Water Works (AWK) | $658k | 0.0% | Trimmed -0.5% | 0.0% |
| Brady (BRC) | $641k | 0.0% | Unchanged | 0.0% |
| Shell (RDS.A) | $631k | 0.0% | Unchanged | 0.0% |
| Nve (NVEC) | $627k | 0.0% | Unchanged | 0.0% |
| Thermo Fisher Scientific (TMO) | $622k | 0.0% | Unchanged | 0.0% |
| Ishares Tr (ACWI) | $575k | 0.0% | Unchanged | 0.0% |
| Boeing (BA) | $574k | 0.0% | Added +2.0% | 0.0% |
| Zimmer Biomet Holdings (ZBH) | $570k | 0.0% | Trimmed -18% | 0.0% |
| Spdr S&P Midcap 400 Etf Trust (MDY) | $561k | 0.0% | Trimmed -2.6% | 0.0% |
| Digi International (DGII) | $525k | 0.0% | Unchanged | 0.0% |
| TJX Companies (TJX) | $517k | 0.0% | Added +3.0% | 0.0% |
| Cardinal Health (CAH) | $504k | 0.0% | Unchanged | 0.0% |
| Trane Technologies (TT) | $493k | 0.0% | Trimmed -8.5% | 0.0% |
| Micron Technology (MU) | $473k | 0.0% | Trimmed -41% | 0.0% |
| Newmont (NEM) | $467k | 0.0% | Unchanged | 0.0% |
| Huntington Bancshares (HBAN) | $464k | 0.0% | Trimmed -3.9% | 0.0% |
| Philip Morris International (PM) | $459k | 0.0% | Unchanged | 0.0% |
| Sturm Ruger & Co (RGR) | $454k | 0.0% | Unchanged | 0.0% |
| Skywater Technology (SKYT) | $453k | 0.0% | Unchanged | 0.0% |
| Boston Scientific (BSX) | $423k | 0.0% | Trimmed -2.6% | 0.0% |
| Best Buy (BBY) | $417k | 0.0% | Trimmed -6.7% | 0.0% |
| Northern Trust (NTRS) | $417k | 0.0% | Unchanged | 0.0% |
| Salesforce (CRM) | $416k | 0.0% | Trimmed -95% | 0.1% |
| Illinois Tool Works (ITW) | $415k | 0.0% | Added +3.4% | 0.0% |
| Adobe (ADBE) | $404k | 0.0% | Trimmed -2.0% | 0.0% |
| Vanguard Specialized Funds (VIG) | $400k | 0.0% | Trimmed -26% | 0.0% |
| Cummins (CMI) | $377k | 0.0% | Unchanged | 0.0% |
| Ishares Tr (INDA) | $369k | 0.0% | Trimmed -1.5% | 0.0% |
| Waters (WAT) | $360k | 0.0% | Added +0.1% | 0.0% |
| Marathon Petroleum (MPC) | $355k | 0.0% | Unchanged | 0.0% |
| Deere & Co (DE) | $353k | 0.0% | Trimmed -2.6% | 0.0% |
| United Fire Group (UFCS) | $346k | 0.0% | Unchanged | 0.0% |
| Harley-Davidson (HOG) | $342k | 0.0% | Unchanged | 0.0% |
| Mosaic (MOS) | $339k | 0.0% | Trimmed -20% | 0.0% |
| Lam Research (LRCX) | $331k | 0.0% | New | – |
| American Tower (AMT) | $330k | 0.0% | Unchanged | 0.0% |
| Altria Group (MO) | $329k | 0.0% | Added +0.1% | 0.0% |
| Bank Hawaii (BOH) | $326k | 0.0% | Unchanged | 0.0% |
| Vanguard World Fd (VGT) | $321k | 0.0% | Added +705% | 0.0% |
| Enterprise Products Partners (EPD) | $316k | 0.0% | Unchanged | 0.0% |
| L3harris Technologies (LHX) | $300k | 0.0% | Unchanged | 0.0% |
| Timken (TKR) | $291k | 0.0% | Unchanged | 0.0% |
| Gilead Sciences (GILD) | $287k | 0.0% | Unchanged | 0.0% |
| Baxter International (BAX) | $267k | 0.0% | Trimmed -44% | 0.0% |
| Ishares Gold Trust (IAU) | $266k | 0.0% | Unchanged | 0.0% |
| Vertiv Holdings (VRT) | $261k | 0.0% | New | – |
| MSA Safety (MSA) | $257k | 0.0% | Unchanged | 0.0% |
| Schlumberger (SLB) | $256k | 0.0% | Unchanged | 0.0% |
| AT&T (T) | $234k | 0.0% | Unchanged | 0.0% |
| Danaher (DHR) | $218k | 0.0% | Added +0.6% | 0.0% |
| Morgan Stanley (MS) | $217k | 0.0% | New | – |
| Regions Financial (RF) | $211k | 0.0% | New | – |
| Everus Construction Group (ECG) | $207k | 0.0% | New | – |
| BP (BP) | $207k | 0.0% | Unchanged | 0.0% |
| Ametek (AME) | $206k | 0.0% | New | – |
| Carrier Global (CARR) | $204k | 0.0% | New | – |
| Mastercard (MA) | $203k | 0.0% | Trimmed -24% | 0.0% |
| Analog Devices (ADI) | $202k | 0.0% | Trimmed -21% | 0.0% |
| Marsh & Mclennan Companies (MRSH) | $200k | 0.0% | Trimmed -7.7% | 0.0% |
| Aebi Schmidt Holding (AEBI) | $131k | 0.0% | Unchanged | 0.0% |
| Cleveland-Cliffs (CLF) | $127k | 0.0% | Unchanged | 0.0% |
| Snap (SNAP) | $100k | 0.0% | Unchanged | 0.0% |
| Plug Power (PLUG) | $27k | 0.0% | Unchanged | 0.0% |
| Honeywell International (HON) | – | – | Sold out | 0.5% |
| Accenture (ACN) | – | – | Sold out | 0.0% |
| Ishares Tr (SGOV) | – | – | Sold out | 0.0% |
| Sei Investments (SEIC) | – | – | Sold out | 0.0% |
| Murphy Oil (MUR) | – | – | Sold out | 0.0% |
| Uipath (PATH) | – | – | Sold out | 0.0% |
| Ulta Beauty (ULTA) | – | – | Sold out | 0.0% |
| United Therapeutics (UTHR) | – | – | Sold out | 0.0% |

## Mairs & Power Growth Fund (as at 2026-06-30)

| Company | Country | Fund weight | Change |
| --- | --- | --- | --- |
| NVIDIA (NVDA) | US | 9.4% | Trimmed -0.8% |
| Microsoft (MSFT) | US | 7.9% | Trimmed -1.7% |
| Amazon.com (AMZN) | US | 6.8% | Trimmed -1.8% |
| Alphabet (GOOG) | US | 4.9% | Added +13% |
| Apple (AAPL) | US | 3.7% | Trimmed -7.8% |
| nVent Electric (NVT) | GB | 3.5% | Unchanged |
| JPMorgan Chase & Co (JPM) | US | 3.2% | Trimmed -20% |
| Taiwan Semiconductor Manufacturing (TSM) | TW | 3.1% | Trimmed -2.7% |
| Roche Holding (0TDF) | CH | 3.0% | Unchanged |
| Eli Lilly & Co (LLY) | US | 3.0% | Unchanged |
| Visa (V) | US | 2.9% | Added +4.5% |
| Graco (GGG) | US | 2.7% | Unchanged |
| Littelfuse (LFUS) | US | 2.6% | Trimmed -25% |
| Entegris (ENTG) | US | 2.6% | Unchanged |
| Meta Platforms (META) | US | 2.5% | Unchanged |
| Motorola Solutions (MSI) | US | 2.4% | Unchanged |
| Palo Alto Networks (PANW) | US | 2.4% | Unchanged |
| Toro (TTC) | US | 2.3% | Trimmed -1.5% |
| WEC Energy Group (WEC) | US | 2.3% | Trimmed -11% |
| Alliant Energy (LNT) | US | 2.2% | Trimmed -14% |
| UnitedHealth Group (UNH) | US | 2.1% | Trimmed -33% |
| Verizon Communications (VZ) | US | 1.8% | Unchanged |
| Bio-Techne (TECH) | US | 1.8% | Trimmed -0.4% |
| Sherwin-Williams (SHW) | US | 1.6% | Unchanged |
| Waste Management (WM) | US | 1.5% | Added +41% |
| CH Robinson Worldwide (CHRW) | US | 1.5% | Trimmed -15% |
| Fastenal (FAST) | US | 1.4% | Unchanged |
| HB Fuller (FUL) | US | 1.4% | Unchanged |
| Ecolab (ECL) | US | 1.4% | Unchanged |
| Fiserv (FISV) | US | 1.3% | Added +12% |
| Rockwell Automation (ROK) | US | 1.1% | Trimmed -14% |
| Arthur J Gallagher & Co (AJG) | US | 1.0% | New |
| Ameriprise Financial (AMP) | US | 0.9% | Unchanged |
| Cognex (CGNX) | US | 0.9% | Unchanged |
| Hormel Foods (HRL) | US | 0.8% | Unchanged |
| Intuitive Surgical (ISRG) | US | 0.7% | Added +44% |
| CME Group (CME) | US | 0.7% | New |
| IDACORP (IDA) | US | 0.6% | Unchanged |
| Tennant (TNC) | US | 0.6% | Trimmed -1.3% |
| Casey's General Stores (CASY) | US | 0.6% | Unchanged |
| Medpace Holdings (MEDP) | US | 0.6% | Unchanged |
| Sprouts Farmers Market (SFM) | US | 0.5% | Added +78% |
| Workiva (WK) | US | 0.5% | Added +30% |
| Piper Sandler Cos (PIPR) | US | 0.5% | Unchanged |
| Zoetis (ZTS) | US | 0.5% | Added +60% |
| Bentley Systems (BSY) | US | 0.3% | New |
| Clearfield (CLFD) | US | 0.1% | Trimmed -54% |
| null |  | – | Sold out |
| null |  | – | Sold out |
| null |  | – | Sold out |

## Mairs & Power Small Cap Fund (as at 2026-06-30)

| Company | Country | Fund weight | Change |
| --- | --- | --- | --- |
| AAR (AIR) | US | 4.5% | Trimmed -4.1% |
| Plexus (PLXS) | US | 4.5% | Trimmed -12% |
| Ambarella (AMBA) | US | 4.0% | Added +7.5% |
| Cognex (CGNX) | US | 4.0% | Trimmed -23% |
| Bio-Techne (TECH) | US | 3.9% | Unchanged |
| Knife River (KNF) | US | 3.9% | Trimmed -4.6% |
| Entegris (ENTG) | US | 3.8% | Trimmed -38% |
| JBT Marel (JBTM) | US | 3.6% | Added +14% |
| Bentley Systems (BSY) | US | 3.3% | Added +26% |
| nVent Electric (NVT) | GB | 3.3% | Trimmed -7.3% |
| Littelfuse (LFUS) | US | 3.2% | Trimmed -9.9% |
| QCR Holdings (QCRH) | US | 3.1% | Unchanged |
| RadNet (RDNT) | US | 3.0% | Unchanged |
| Wintrust Financial (WTFC) | US | 3.0% | Unchanged |
| Patrick Industries (PATK) | US | 2.9% | Added +52% |
| Toro (TTC) | US | 2.8% | Unchanged |
| Associated Banc-Corp (ASB) | US | 2.7% | Unchanged |
| Black Hills (BKH) | US | 2.7% | Unchanged |
| Life Time Group Holdings (LTH) | US | 2.6% | Unchanged |
| HB Fuller (FUL) | US | 2.5% | Unchanged |
| Cullen/Frost Bankers (CFR) | US | 2.4% | Unchanged |
| Clearfield (CLFD) | US | 2.4% | Trimmed -25% |
| Alerus Financial (ALRS) | US | 2.4% | Added +156% |
| James Hardie Industries (JHX) | IE | 2.2% | Unchanged |
| Trex (TREX) | US | 2.1% | Unchanged |
| Hub Group (HUBG) | US | 2.1% | Trimmed -19% |
| Glacier Bancorp (GBCI) | US | 2.0% | Unchanged |
| Casey's General Stores (CASY) | US | 2.0% | Trimmed -19% |
| Workiva (WK) | US | 1.7% | Unchanged |
| Polaris (PII) | US | 1.5% | Unchanged |
| Medpace Holdings (MEDP) | US | 1.5% | Unchanged |
| Sprouts Farmers Market (SFM) | US | 1.4% | Added +104% |
| Northwestern Energy Group (NWE) | US | 1.4% | Trimmed -40% |
| Piper Sandler Cos (PIPR) | US | 1.3% | Unchanged |
| Oshkosh (OSK) | US | 1.3% | Unchanged |
| Tennant (TNC) | US | 1.0% | Trimmed -35% |
| Generac Holdings (GNRC) | US | 0.9% | Trimmed -7.7% |
| API Group (APG) | US | 0.9% | Unchanged |
| Hawkins (HWKN) | US | 0.7% | Unchanged |
| MGE Energy (MGEE) | US | 0.5% | New |
| IDACORP (IDA) | US | 0.5% | New |

Source: SEC filings, via moatshark (https://www.moatshark.com/m/mairs-power). Values traded and returns are estimates. Not investment advice. Built 2026-10-21.