# EDGAR Filing Document

**Accession Number:** 0001070134
**File Stem:** 0001172661-25-004985
**Filing Date:** 2025-11
**Character Count:** 27995
**Document Hash:** 968e98a9fbf56b12971d52c31872f21d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001172661-25-004985.hdr.sgml**: 20251114

**ACCESSION NUMBER**: 0001172661-25-004985

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251114

**DATE AS OF CHANGE**: 20251114

**EFFECTIVENESS DATE**: 20251114

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MAIRS & POWER INC
- **CENTRAL INDEX KEY:** 0001070134

**ORGANIZATION NAME:**
- **EIN:** 410844499
- **STATE OF INCORPORATION:** MN
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-07342
- **FILM NUMBER:** 251484646

**BUSINESS ADDRESS:**
- **STREET 1:** 30 E. 7TH STREET, SUITE 2500
- **CITY:** ST PAUL
- **STATE:** MN
- **ZIP:** 55101
- **BUSINESS PHONE:** 6512228478

**MAIL ADDRESS:**
- **STREET 1:** 30 E. 7TH STREET, SUITE 2500
- **CITY:** ST PAUL
- **STATE:** MN
- **ZIP:** 55101

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 09-30-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** MAIRS  POWER INC<br>**Address:** 30 E. 7th Street Suite 2500<br>St Paul, MN 55101

**Form 13F File Number:** 028-07342

**CRD Number (if applicable):** 000110351

**SEC File Number (if applicable):** 801-2731

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Brent M. Williams<br>**Title:** Chief Compliance Officer<br>**Phone:** 651-222-8478

**Signature, Place, and Date of Signing:**

Brent M. Williams  St. Paul, MN  11-14-2025<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 248

**Form 13F Information Table Value Total:** $10639725649

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| 3M CO | COM | 88579Y101 |  | 53762672 | 346453 | SH |  | SOLE |  | 201150 | 0 | 145303 |
| AAR CORP | COM | 000361105 |  | 11451038 | 127702 | SH |  | SOLE |  | 127702 | 0 | 0 |
| ABBOTT LABS | COM | 002824100 |  | 96823051 | 722884 | SH |  | SOLE |  | 510851 | 0 | 212032 |
| ABBVIE INC | COM | 00287Y109 |  | 10979858 | 47421 | SH |  | SOLE |  | 36039 | 0 | 11382 |
| ACCENTURE PLC IRELAND | SHS CLASS A | G1151C101 |  | 328471 | 1332 | SH |  | SOLE |  | 1051 | 0 | 281 |
| ADOBE INC | COM | 00724F101 |  | 715730 | 2029 | SH |  | SOLE |  | 1639 | 0 | 390 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 420007 | 2596 | SH |  | SOLE |  | 2596 | 0 | 0 |
| AEBI SCHMIDT HLDG AG | COM | H00501108 |  | 129700 | 10401 | SH |  | SOLE |  | 10401 | 0 | 0 |
| ALERUS FINL CORP | COM | 01446U103 |  | 1922261 | 86823 | SH |  | SOLE |  | 86823 | 0 | 0 |
| ALLETE INC | COM NEW | 018522300 |  | 218323 | 3288 | SH |  | SOLE |  | 1380 | 0 | 1908 |
| ALLIANT ENERGY CORP | COM | 018802108 |  | 201801475 | 2993643 | SH |  | SOLE |  | 2643374 | 0 | 350269 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 429278287 | 1762588 | SH |  | SOLE |  | 1454890 | 0 | 307697 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 6385751 | 26268 | SH |  | SOLE |  | 19978 | 0 | 6290 |
| ALTRIA GROUP INC | COM | 02209S103 |  | 307754 | 4659 | SH |  | SOLE |  | 2158 | 0 | 2500 |
| AMAZON COM INC | COM | 023135106 |  | 561199402 | 2555902 | SH |  | SOLE |  | 2276644 | 0 | 279258 |
| AMCOR PLC | ORD | G0250X107 |  | 724094 | 88520 | SH |  | SOLE |  | 88520 | 0 | 0 |
| AMERICAN EXPRESS CO | COM | 025816109 |  | 56477623 | 170031 | SH |  | SOLE |  | 122718 | 0 | 47313 |
| AMERICAN TOWER CORP NEW | COM | 03027X100 |  | 582922 | 3031 | SH |  | SOLE |  | 1711 | 0 | 1320 |
| AMERICAN WTR WKS CO INC NEW | COM | 030420103 |  | 721561 | 5184 | SH |  | SOLE |  | 5075 | 0 | 109 |
| AMERIPRISE FINL INC | COM | 03076C106 |  | 17049323 | 34706 | SH |  | SOLE |  | 29640 | 0 | 5066 |
| AMGEN INC | COM | 031162100 |  | 1599227 | 5667 | SH |  | SOLE |  | 4944 | 0 | 723 |
| APPLE INC | COM | 037833100 |  | 301161820 | 1182743 | SH |  | SOLE |  | 1036074 | 0 | 146668 |
| APPLIED MATLS INC | COM | 038222105 |  | 2319090 | 11327 | SH |  | SOLE |  | 10127 | 0 | 1200 |
| ASSOCIATED BANC CORP | COM | 045487105 |  | 6993531 | 272016 | SH |  | SOLE |  | 272016 | 0 | 0 |
| AT INC | COM | 00206R102 |  | 319874 | 11327 | SH |  | SOLE |  | 5334 | 0 | 5993 |
| AUTODESK INC | COM | 052769106 |  | 254454 | 801 | SH |  | SOLE |  | 801 | 0 | 0 |
| AUTOMATIC DATA PROCESSING IN | COM | 053015103 |  | 30848905 | 105107 | SH |  | SOLE |  | 83811 | 0 | 21296 |
| AXOGEN INC | COM | 05463X106 |  | 392480 | 22000 | SH |  | SOLE |  | 22000 | 0 | 0 |
| BADGER METER INC | COM | 056525108 |  | 18547225 | 103859 | SH |  | SOLE |  | 70510 | 0 | 33349 |
| BANK AMERICA CORP | COM | 060505104 |  | 1288512 | 24976 | SH |  | SOLE |  | 17320 | 0 | 7656 |
| BANK HAWAII CORP | COM | 062540109 |  | 262560 | 4000 | SH |  | SOLE |  | 4000 | 0 | 0 |
| BANK MONTREAL QUE | COM | 063671101 |  | 878667 | 6746 | SH |  | SOLE |  | 6746 | 0 | 0 |
| BANK NEW YORK MELLON CORP | COM | 064058100 |  | 641556 | 5888 | SH |  | SOLE |  | 5713 | 0 | 175 |
| BAXTER INTL INC | COM | 071813109 |  | 679024 | 29821 | SH |  | SOLE |  | 15021 | 0 | 14800 |
| BECTON DICKINSON  CO | COM | 075887109 |  | 1332463 | 7119 | SH |  | SOLE |  | 6139 | 0 | 980 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 12759038 | 25379 | SH |  | SOLE |  | 16516 | 0 | 8863 |
| BERKSHIRE HATHAWAY INC DEL | CL A | 084670108 |  | 3771000 | 5 | SH |  | SOLE |  | 5 | 0 | 0 |
| BEST BUY INC | COM | 086516101 |  | 756351 | 10002 | SH |  | SOLE |  | 8862 | 0 | 1140 |
| BIO-TECHNE CORP | COM | 09073M104 |  | 156176151 | 2807409 | SH |  | SOLE |  | 2456254 | 0 | 351154 |
| BLACK HILLS CORP | COM | 092113109 |  | 6014202 | 97649 | SH |  | SOLE |  | 97649 | 0 | 0 |
| BLACKROCK INC | COM | 09290D101 |  | 385903 | 331 | SH |  | SOLE |  | 256 | 0 | 75 |
| BOEING CO | COM | 097023105 |  | 508064 | 2354 | SH |  | SOLE |  | 1654 | 0 | 700 |
| BOSTON SCIENTIFIC CORP | COM | 101137107 |  | 1006272 | 10307 | SH |  | SOLE |  | 10307 | 0 | 0 |
| BP PLC | SPONSORED ADR | 055622104 |  | 223990 | 6500 | SH |  | SOLE |  | 4000 | 0 | 2500 |
| BRADY CORP | CL A | 104674106 |  | 546210 | 7000 | SH |  | SOLE |  | 7000 | 0 | 0 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 1190279 | 26392 | SH |  | SOLE |  | 17732 | 0 | 8660 |
| BROADCOM INC | COM | 11135F101 |  | 1293247 | 3920 | SH |  | SOLE |  | 3920 | 0 | 0 |
| C H ROBINSON WORLDWIDE INC | COM NEW | 12541W209 |  | 115153302 | 869738 | SH |  | SOLE |  | 771806 | 0 | 97931 |
| CANADIAN IMPERIAL BANK OF CO | COM | 136069101 |  | 812961 | 10176 | SH |  | SOLE |  | 10176 | 0 | 0 |
| CARDINAL HEALTH INC | COM | 14149Y108 |  | 332912 | 2121 | SH |  | SOLE |  | 2121 | 0 | 0 |
| CARRIER GLOBAL CORPORATION | COM | 14448C104 |  | 241367 | 4043 | SH |  | SOLE |  | 4043 | 0 | 0 |
| CASEYS GEN STORES INC | COM | 147528103 |  | 61185714 | 108232 | SH |  | SOLE |  | 98717 | 0 | 9515 |
| CATERPILLAR INC | COM | 149123101 |  | 8927476 | 18710 | SH |  | SOLE |  | 17132 | 0 | 1578 |
| CHEVRON CORP NEW | COM | 166764100 |  | 3561576 | 22935 | SH |  | SOLE |  | 15685 | 0 | 7250 |
| CHUBB LIMITED | COM | H1467J104 |  | 675142 | 2392 | SH |  | SOLE |  | 2117 | 0 | 275 |
| CIENA CORP | COM NEW | 171779309 |  | 437010 | 3000 | SH |  | SOLE |  | 3000 | 0 | 0 |
| CINTAS CORP | COM | 172908105 |  | 3743532 | 18238 | SH |  | SOLE |  | 10988 | 0 | 7250 |
| CISCO SYS INC | COM | 17275R102 |  | 1430252 | 20904 | SH |  | SOLE |  | 17356 | 0 | 3548 |
| CLEARFIELD INC | COM | 18482P103 |  | 25124663 | 730793 | SH |  | SOLE |  | 695438 | 0 | 35355 |
| CLEARWATER ANALYTICS HLDGS I | CL A | 185123106 |  | 1698836 | 94275 | SH |  | SOLE |  | 94275 | 0 | 0 |
| CLEVELAND-CLIFFS INC NEW | COM | 185899101 |  | 164700 | 13500 | SH |  | SOLE |  | 13500 | 0 | 0 |
| COCA COLA CO | COM | 191216100 |  | 1565882 | 23611 | SH |  | SOLE |  | 12751 | 0 | 10860 |
| COGNEX CORP | COM | 192422103 |  | 27782218 | 613294 | SH |  | SOLE |  | 587359 | 0 | 25935 |
| COMCAST CORP NEW | CL A | 20030N101 |  | 238792 | 7600 | SH |  | SOLE |  | 5662 | 0 | 1938 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 2661479 | 28137 | SH |  | SOLE |  | 24037 | 0 | 4100 |
| CORNING INC | COM | 219350105 |  | 7598111 | 92626 | SH |  | SOLE |  | 75941 | 0 | 16685 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 2981454 | 3221 | SH |  | SOLE |  | 2955 | 0 | 266 |
| CULLEN FROST BANKERS INC | COM | 229899109 |  | 5514875 | 43503 | SH |  | SOLE |  | 43503 | 0 | 0 |
| CUMMINS INC | COM | 231021106 |  | 223011 | 528 | SH |  | SOLE |  | 0 | 0 | 528 |
| CVRX INC | COM | 126638105 |  | 1169795 | 144956 | SH |  | SOLE |  | 144956 | 0 | 0 |
| DANAHER CORPORATION | COM | 235851102 |  | 347946 | 1755 | SH |  | SOLE |  | 1680 | 0 | 75 |
| DEERE  CO | COM | 244199105 |  | 275271 | 602 | SH |  | SOLE |  | 132 | 0 | 470 |
| DIGI INTL INC | COM | 253798102 |  | 291680 | 8000 | SH |  | SOLE |  | 7000 | 0 | 1000 |
| DISNEY WALT CO | COM | 254687106 |  | 35899643 | 313534 | SH |  | SOLE |  | 233117 | 0 | 80417 |
| DONALDSON INC | COM | 257651109 |  | 49555144 | 605439 | SH |  | SOLE |  | 434445 | 0 | 170993 |
| EATON CORP PLC | SHS | G29183103 |  | 242140 | 647 | SH |  | SOLE |  | 647 | 0 | 0 |
| ECOLAB INC | COM | 278865100 |  | 212797080 | 777029 | SH |  | SOLE |  | 647018 | 0 | 130010 |
| EIGHTCO HOLDINGS INC | COM | 22890A302 |  | 99735 | 10900 | SH |  | SOLE |  | 5000 | 0 | 5900 |
| ELI LILLY  CO | COM | 532457108 |  | 273289051 | 358177 | SH |  | SOLE |  | 304090 | 0 | 54087 |
| EMERSON ELEC CO | COM | 291011104 |  | 8942147 | 68167 | SH |  | SOLE |  | 55308 | 0 | 12859 |
| ENTEGRIS INC | COM | 29362U104 |  | 110401863 | 1194050 | SH |  | SOLE |  | 1066587 | 0 | 127463 |
| ENTERPRISE PRODS PARTNERS L | COM | 293792107 |  | 268922 | 8600 | SH |  | SOLE |  | 8600 | 0 | 0 |
| EXACT SCIENCES CORP | COM | 30063P105 |  | 5100996 | 93237 | SH |  | SOLE |  | 92372 | 0 | 865 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 7882691 | 69913 | SH |  | SOLE |  | 49545 | 0 | 20368 |
| FASTENAL CO | COM | 311900104 |  | 231421506 | 4719036 | SH |  | SOLE |  | 4019742 | 0 | 699293 |
| FISERV INC | COM | 337738108 |  | 225618604 | 1749931 | SH |  | SOLE |  | 1513047 | 0 | 236884 |
| FULLER H B CO | COM | 359694106 |  | 142799177 | 2408893 | SH |  | SOLE |  | 2167164 | 0 | 241729 |
| GALLAGHER ARTHUR J  CO | COM | 363576109 |  | 235402 | 760 | SH |  | SOLE |  | 276 | 0 | 484 |
| GE AEROSPACE | COM NEW | 369604301 |  | 2353917 | 7825 | SH |  | SOLE |  | 7825 | 0 | 0 |
| GE VERNOVA INC | COM | 36828A101 |  | 614900 | 1000 | SH |  | SOLE |  | 983 | 0 | 17 |
| GENERAC HLDGS INC | COM | 368736104 |  | 19545791 | 116761 | SH |  | SOLE |  | 92230 | 0 | 24531 |
| GENERAL MLS INC | COM | 370334104 |  | 5836014 | 115748 | SH |  | SOLE |  | 76502 | 0 | 39246 |
| GENTHERM INC | COM | 37253A103 |  | 2581305 | 75787 | SH |  | SOLE |  | 75787 | 0 | 0 |
| GENUINE PARTS CO | COM | 372460105 |  | 222176 | 1603 | SH |  | SOLE |  | 1603 | 0 | 0 |
| GILEAD SCIENCES INC | COM | 375558103 |  | 252525 | 2275 | SH |  | SOLE |  | 1875 | 0 | 400 |
| GLACIER BANCORP INC NEW | COM | 37637Q105 |  | 4826263 | 99163 | SH |  | SOLE |  | 99163 | 0 | 0 |
| GRACO INC | COM | 384109104 |  | 334232703 | 3934001 | SH |  | SOLE |  | 3363543 | 0 | 570457 |
| HARLEY DAVIDSON INC | COM | 412822108 |  | 390600 | 14000 | SH |  | SOLE |  | 14000 | 0 | 0 |
| HAWKINS INC | COM | 420261109 |  | 2452102 | 13420 | SH |  | SOLE |  | 420 | 0 | 13000 |
| HERSHEY CO | COM | 427866108 |  | 13335356 | 71293 | SH |  | SOLE |  | 58595 | 0 | 12698 |
| HIMAX TECHNOLOGIES INC | SPONSORED ADR | 43289P106 |  | 93157 | 10550 | SH |  | SOLE |  | 10550 | 0 | 0 |
| HOME DEPOT INC | COM | 437076102 |  | 63027644 | 155551 | SH |  | SOLE |  | 108008 | 0 | 47542 |
| HONEYWELL INTL INC | COM | 438516106 |  | 52466610 | 249248 | SH |  | SOLE |  | 166764 | 0 | 82483 |
| HORMEL FOODS CORP | COM | 440452100 |  | 103552783 | 4185642 | SH |  | SOLE |  | 3568105 | 0 | 617537 |
| HUB GROUP INC | CL A | 443320106 |  | 8819774 | 256091 | SH |  | SOLE |  | 256091 | 0 | 0 |
| HUNTINGTON BANCSHARES INC | COM | 446150104 |  | 478431 | 27703 | SH |  | SOLE |  | 27703 | 0 | 0 |
| IDACORP INC | COM | 451107106 |  | 37949251 | 287168 | SH |  | SOLE |  | 261868 | 0 | 25300 |
| IDEX CORP | COM | 45167R104 |  | 651040 | 4000 | SH |  | SOLE |  | 4000 | 0 | 0 |
| IDEXX LABS INC | COM | 45168D104 |  | 1369780 | 2144 | SH |  | SOLE |  | 2144 | 0 | 0 |
| ILLINOIS TOOL WKS INC | COM | 452308109 |  | 458677 | 1759 | SH |  | SOLE |  | 1510 | 0 | 249 |
| INSPIRE MED SYS INC | COM | 457730109 |  | 4856093 | 65446 | SH |  | SOLE |  | 63540 | 0 | 1906 |
| INTEL CORP | COM | 458140100 |  | 480872 | 14333 | SH |  | SOLE |  | 4500 | 0 | 9833 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 1044838 | 3703 | SH |  | SOLE |  | 3477 | 0 | 226 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 928172 | 1546 | SH |  | SOLE |  | 846 | 0 | 700 |
| ISHARES GOLD TR | ISHARES NEW | 464285204 |  | 256514 | 3525 | SH |  | SOLE |  | 3525 | 0 | 0 |
| ISHARES TR | GLOBAL TECH ETF | 464287291 |  | 312228 | 5582 | SH |  | SOLE |  | 3150 | 0 | 0 |
| ISHARES TR | IBONDS 26 TRM TS | 46436E858 |  | 327152 | 3150 | SH |  | SOLE |  | 0 | 0 | 14255 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 417925 | 3517 | SH |  | SOLE |  | 1791 | 0 | 1726 |
| ISHARES TR | MSCI EAFE ETF | 464287465 |  | 1165771 | 12486 | SH |  | SOLE |  | 12485 | 0 | 0 |
| ISHARES TR | RUS 1000 GRW ETF | 464287614 |  | 222495 | 4172 | SH |  | SOLE |  | 475 | 0 | 0 |
| ISHARES TR | S 500 GRWT ETF | 464287309 |  | 302886 | 2509 | SH |  | SOLE |  | 2509 | 0 | 0 |
| ISHARES TR | RUS 1000 VAL ETF | 464287598 |  | 585728 | 13886 | SH |  | SOLE |  | 2877 | 0 | 0 |
| ISHARES TR | MSCI EMG MKT ETF | 464287234 |  | 222785 | 14255 | SH |  | SOLE |  | 3722 | 0 | 450 |
| ISHARES TR | CORE S ETF | 464287200 |  | 3735835 | 475 | SH |  | SOLE |  | 5581 | 0 | 0 |
| ISHARES TR | MSCI ACWI EX US | 464288240 |  | 715110 | 2877 | SH |  | SOLE |  | 11000 | 0 | 0 |
| ISHARES TR | IBONDS 25 TRM TS | 46436E866 |  | 324377 | 11000 | SH |  | SOLE |  | 0 | 0 | 13886 |
| JAMF HLDG CORP | COM | 47074L105 |  | 3189798 | 298112 | SH |  | SOLE |  | 295112 | 0 | 3000 |
| JBT MAREL CORPORATION | COM | 477839104 |  | 9836416 | 70035 | SH |  | SOLE |  | 70035 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 182731768 | 985502 | SH |  | SOLE |  | 807660 | 0 | 177841 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 429467408 | 1361530 | SH |  | SOLE |  | 1253131 | 0 | 108399 |
| KIMBERLY-CLARK CORP | COM | 494368103 |  | 1363885 | 10969 | SH |  | SOLE |  | 10016 | 0 | 953 |
| KNIFE RIVER CORP | COMMON STOCK | 498894104 |  | 9381599 | 122045 | SH |  | SOLE |  | 122045 | 0 | 0 |
| KRAFT HEINZ CO | COM | 500754106 |  | 58099797 | 2231175 | SH |  | SOLE |  | 1951065 | 0 | 280110 |
| L3HARRIS TECHNOLOGIES INC | COM | 502431109 |  | 320986 | 1051 | SH |  | SOLE |  | 1051 | 0 | 0 |
| LIFE TIME GROUP HOLDINGS INC | COMMON STOCK | 53190C102 |  | 4405402 | 159616 | SH |  | SOLE |  | 159616 | 0 | 0 |
| LINDE PLC | SHS | G54950103 |  | 203775 | 429 | SH |  | SOLE |  | 355 | 0 | 74 |
| LITTELFUSE INC | COM | 537008104 |  | 210818081 | 813938 | SH |  | SOLE |  | 721698 | 0 | 92240 |
| LOWES COS INC | COM | 548661107 |  | 1755400 | 6985 | SH |  | SOLE |  | 6915 | 0 | 70 |
| MARATHON PETE CORP | COM | 56585A102 |  | 250755 | 1301 | SH |  | SOLE |  | 301 | 0 | 1000 |
| MARSH  MCLENNAN COS INC | COM | 571748102 |  | 273275 | 1356 | SH |  | SOLE |  | 1356 | 0 | 0 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 366314 | 644 | SH |  | SOLE |  | 410 | 0 | 234 |
| MCDONALDS CORP | COM | 580135101 |  | 5452009 | 17941 | SH |  | SOLE |  | 17144 | 0 | 796 |
| MEDPACE HLDGS INC | COM | 58506Q109 |  | 35776795 | 69583 | SH |  | SOLE |  | 68453 | 0 | 1130 |
| MEDTRONIC PLC | SHS | G5960L103 |  | 41005093 | 430572 | SH |  | SOLE |  | 347335 | 0 | 83236 |
| MERCK  CO INC | COM | 58933Y105 |  | 4380055 | 52187 | SH |  | SOLE |  | 36123 | 0 | 16064 |
| META PLATFORMS INC | CL A | 30303M102 |  | 188682050 | 256927 | SH |  | SOLE |  | 239269 | 0 | 17658 |
| MGP INGREDIENTS INC NEW | COM | 55303J106 |  | 4266947 | 176393 | SH |  | SOLE |  | 176393 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 986977989 | 1905547 | SH |  | SOLE |  | 1709608 | 0 | 195938 |
| MONDELEZ INTL INC | CL A | 609207105 |  | 282614 | 4524 | SH |  | SOLE |  | 3883 | 0 | 641 |
| MOSAIC CO NEW | COM | 61945C103 |  | 1023060 | 29500 | SH |  | SOLE |  | 29500 | 0 | 0 |
| MOTOROLA SOLUTIONS INC | COM NEW | 620076307 |  | 210458119 | 460229 | SH |  | SOLE |  | 415394 | 0 | 44835 |
| MSA SAFETY INC | COM | 553498106 |  | 252943 | 1470 | SH |  | SOLE |  | 1470 | 0 | 0 |
| NEWMONT CORP | COM | 651639106 |  | 421550 | 5000 | SH |  | SOLE |  | 5000 | 0 | 0 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 1005904 | 13325 | SH |  | SOLE |  | 11331 | 0 | 1994 |
| NIKE INC | CL B | 654106103 |  | 3539634 | 50762 | SH |  | SOLE |  | 31762 | 0 | 19000 |
| NORFOLK SOUTHN CORP | COM | 655844108 |  | 917452 | 3054 | SH |  | SOLE |  | 634 | 0 | 2420 |
| NORTHERN TR CORP | COM | 665859104 |  | 328424 | 2440 | SH |  | SOLE |  | 440 | 0 | 2000 |
| NORTHWESTERN ENERGY GROUP IN | COM NEW | 668074305 |  | 5218459 | 89037 | SH |  | SOLE |  | 89037 | 0 | 0 |
| NVE CORP | COM NEW | 629445206 |  | 391620 | 6000 | SH |  | SOLE |  | 6000 | 0 | 0 |
| NVENT ELECTRIC PLC | SHS | G6700G107 |  | 215269238 | 2182373 | SH |  | SOLE |  | 1949846 | 0 | 232526 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 1040448401 | 5576420 | SH |  | SOLE |  | 4895003 | 0 | 681416 |
| OKLO INC | COM CL A | 02156V109 |  | 1782843 | 15971 | SH |  | SOLE |  | 1871 | 0 | 14100 |
| OLD NATL BANCORP IND | COM | 680033107 |  | 13984894 | 637125 | SH |  | SOLE |  | 637125 | 0 | 0 |
| ORACLE CORP | COM | 68389X105 |  | 4953199 | 17612 | SH |  | SOLE |  | 13587 | 0 | 4025 |
| OSHKOSH CORP | COM | 688239201 |  | 4610057 | 35544 | SH |  | SOLE |  | 35544 | 0 | 0 |
| PALO ALTO NETWORKS INC | COM | 697435105 |  | 22651096 | 111242 | SH |  | SOLE |  | 103072 | 0 | 8170 |
| PATRICK INDS INC | COM | 703343103 |  | 2418711 | 23385 | SH |  | SOLE |  | 23385 | 0 | 0 |
| PENTAIR PLC | SHS | G7S00T104 |  | 6669192 | 60213 | SH |  | SOLE |  | 58758 | 0 | 1455 |
| PEPSICO INC | COM | 713448108 |  | 1313254 | 9351 | SH |  | SOLE |  | 9351 | 0 | 0 |
| PFIZER INC | COM | 717081103 |  | 1919765 | 75344 | SH |  | SOLE |  | 64064 | 0 | 11280 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 428370 | 2641 | SH |  | SOLE |  | 141 | 0 | 2500 |
| PHILLIPS 66 | COM | 718546104 |  | 903581 | 6643 | SH |  | SOLE |  | 5343 | 0 | 1300 |
| PIPER SANDLER COMPANIES | COM | 724078100 |  | 64056436 | 184606 | SH |  | SOLE |  | 172938 | 0 | 11668 |
| PLEXUS CORP | COM | 729132100 |  | 7945217 | 54912 | SH |  | SOLE |  | 54912 | 0 | 0 |
| PLUG POWER INC | COM NEW | 72919P202 |  | 23300 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| POLARIS INC | COM | 731068102 |  | 5571179 | 95840 | SH |  | SOLE |  | 92085 | 0 | 3755 |
| PRINCIPAL FINANCIAL GROUP IN | COM | 74251V102 |  | 21093785 | 254418 | SH |  | SOLE |  | 173680 | 0 | 80737 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 28953137 | 188436 | SH |  | SOLE |  | 139271 | 0 | 49164 |
| QCR HOLDINGS INC | COM | 74727A104 |  | 7926391 | 104791 | SH |  | SOLE |  | 104791 | 0 | 0 |
| QUALCOMM INC | COM | 747525103 |  | 108788294 | 653933 | SH |  | SOLE |  | 531320 | 0 | 122612 |
| RADNET INC | COM | 750491102 |  | 7429179 | 97483 | SH |  | SOLE |  | 97483 | 0 | 0 |
| REGIONS FINANCIAL CORP NEW | COM | 7591EP100 |  | 256844 | 9740 | SH |  | SOLE |  | 3240 | 0 | 6500 |
| ROCKWELL AUTOMATION INC | COM | 773903109 |  | 143578885 | 410777 | SH |  | SOLE |  | 365574 | 0 | 45203 |
| RTX CORPORATION | COM | 75513E101 |  | 1517850 | 9071 | SH |  | SOLE |  | 6015 | 0 | 3056 |
| SALESFORCE INC | COM | 79466L302 |  | 69864993 | 294789 | SH |  | SOLE |  | 256035 | 0 | 38754 |
| SCHLUMBERGER LTD | COM STK | 806857108 |  | 258600 | 7524 | SH |  | SOLE |  | 7524 | 0 | 0 |
| SCHWAB CHARLES CORP | COM | 808513105 |  | 28582668 | 299389 | SH |  | SOLE |  | 194845 | 0 | 104544 |
| SCHWAB STRATEGIC TR | US BRD MKT ETF | 808524102 |  | 6716635 | 261246 | SH |  | SOLE |  | 84246 | 0 | 177000 |
| SCHWAB STRATEGIC TR | INTL EQTY ETF | 808524805 |  | 698400 | 30000 | SH |  | SOLE |  | 0 | 0 | 30000 |
| SEI INVTS CO | COM | 784117103 |  | 280005 | 3300 | SH |  | SOLE |  | 0 | 0 | 3300 |
| SELECT SECTOR SPDR TR | TECHNOLOGY | 81369Y803 |  | 630015 | 2235 | SH |  | SOLE |  | 2235 | 0 | 0 |
| SHELL PLC | SPON ADS | 780259305 |  | 536761 | 7504 | SH |  | SOLE |  | 7504 | 0 | 0 |
| SHERWIN WILLIAMS CO | COM | 824348106 |  | 160679544 | 464043 | SH |  | SOLE |  | 424096 | 0 | 39947 |
| SKYWATER TECHNOLOGY INC | COM | 83089J108 |  | 3447547 | 184756 | SH |  | SOLE |  | 184756 | 0 | 0 |
| SNAP ON INC | COM | 833034101 |  | 1238152 | 3573 | SH |  | SOLE |  | 3163 | 0 | 410 |
| SOLVENTUM CORP | COM SHS | 83444M101 |  | 5346301 | 73237 | SH |  | SOLE |  | 38918 | 0 | 34319 |
| SONY GROUP CORP | SPONSORED ADR | 835699307 |  | 225426 | 7830 | SH |  | SOLE |  | 7830 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 17982247 | 26993 | SH |  | SOLE |  | 25736 | 0 | 1257 |
| SPDR S MIDCAP 400 ETF TR | UTSER1 S | 78467Y107 |  | 634250 | 1064 | SH |  | SOLE |  | 1064 | 0 | 0 |
| SPDR SERIES TRUST | BLOOMBERG 1-3 MO | 78468R663 |  | 282774 | 3082 | SH |  | SOLE |  | 3082 | 0 | 0 |
| STARBUCKS CORP | COM | 855244109 |  | 226005 | 2671 | SH |  | SOLE |  | 2671 | 0 | 0 |
| STRYKER CORPORATION | COM | 863667101 |  | 1639856 | 4436 | SH |  | SOLE |  | 4025 | 0 | 411 |
| STURM RUGER  CO INC | COM | 864159108 |  | 521640 | 12000 | SH |  | SOLE |  | 12000 | 0 | 0 |
| SYSCO CORP | COM | 871829107 |  | 12864390 | 156235 | SH |  | SOLE |  | 124182 | 0 | 32053 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 138322562 | 495265 | SH |  | SOLE |  | 456805 | 0 | 38459 |
| TARGET CORP | COM | 87612E106 |  | 20876348 | 232735 | SH |  | SOLE |  | 178134 | 0 | 54601 |
| TENNANT CO | COM | 880345103 |  | 107784509 | 1329688 | SH |  | SOLE |  | 1193662 | 0 | 136026 |
| TEXAS INSTRS INC | COM | 882508104 |  | 43492014 | 236717 | SH |  | SOLE |  | 196909 | 0 | 39808 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 783792 | 1616 | SH |  | SOLE |  | 616 | 0 | 1000 |
| TJX COS INC NEW | COM | 872540109 |  | 479150 | 3315 | SH |  | SOLE |  | 3315 | 0 | 0 |
| TORO CO | COM | 891092108 |  | 274355003 | 3600459 | SH |  | SOLE |  | 3170140 | 0 | 430319 |
| TRANE TECHNOLOGIES PLC | SHS | G8994E103 |  | 540531 | 1281 | SH |  | SOLE |  | 1039 | 0 | 242 |
| TRAVELERS COMPANIES INC | COM | 89417E109 |  | 24709295 | 88494 | SH |  | SOLE |  | 73385 | 0 | 15109 |
| TREX CO INC | COM | 89531P105 |  | 3272674 | 63338 | SH |  | SOLE |  | 63338 | 0 | 0 |
| TRUST FOR PROFESSIONAL MANAG | MAIRS  PWR MINN | 89834G836 |  | 5102093 | 229186 | SH |  | SOLE |  | 220290 | 0 | 8896 |
| UIPATH INC | CL A | 90364P105 |  | 162233 | 12125 | SH |  | SOLE |  | 0 | 0 | 12125 |
| ULTA BEAUTY INC | COM | 90384S303 |  | 1464197 | 2678 | SH |  | SOLE |  | 2223 | 0 | 455 |
| UNION PAC CORP | COM | 907818108 |  | 1140722 | 4826 | SH |  | SOLE |  | 2431 | 0 | 2395 |
| UNITED FIRE GROUP INC | COM | 910340108 |  | 200772 | 6600 | SH |  | SOLE |  | 6600 | 0 | 0 |
| UNITED PARCEL SERVICE INC | CL B | 911312106 |  | 2111221 | 25275 | SH |  | SOLE |  | 16476 | 0 | 8799 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 369452740 | 1069947 | SH |  | SOLE |  | 970167 | 0 | 99780 |
| US BANCORP DEL | COM NEW | 902973304 |  | 36911423 | 763737 | SH |  | SOLE |  | 576268 | 0 | 187469 |
| VANGUARD INDEX FDS | SMALL CP ETF | 922908751 |  | 398787 | 1294 | SH |  | SOLE |  | 1568 | 0 | 0 |
| VANGUARD INDEX FDS | GROWTH ETF | 922908736 |  | 541000 | 2087 | SH |  | SOLE |  | 1128 | 0 | 0 |
| VANGUARD INDEX FDS | LARGE CAP ETF | 922908637 |  | 251522 | 1568 | SH |  | SOLE |  | 0 | 0 | 817 |
| VANGUARD INDEX FDS | MID CAP ETF | 922908629 |  | 613035 | 1128 | SH |  | SOLE |  | 2087 | 0 | 0 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 424652 | 817 | SH |  | SOLE |  | 959 | 0 | 335 |
| VANGUARD INTL EQUITY INDEX F | ALLWRLD EX US | 922042775 |  | 226814 | 3178 | SH |  | SOLE |  | 3178 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | VNG RUS1000IDX | 92206C730 |  | 310114 | 1031 | SH |  | SOLE |  | 1031 | 0 | 0 |
| VANGUARD SPECIALIZED FUNDS | DIV APP ETF | 921908844 |  | 725054 | 3360 | SH |  | SOLE |  | 3272 | 0 | 88 |
| VANGUARD TAX-MANAGED FDS | VAN FTSE DEV MKT | 921943858 |  | 274374 | 4579 | SH |  | SOLE |  | 4579 | 0 | 0 |
| VERICEL CORP | COM | 92346J108 |  | 813972 | 25865 | SH |  | SOLE |  | 25865 | 0 | 0 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 150048596 | 3414075 | SH |  | SOLE |  | 3080766 | 0 | 333309 |
| VIASAT INC | COM | 92552V100 |  | 380900 | 13000 | SH |  | SOLE |  | 13000 | 0 | 0 |
| VISA INC | COM CL A | 92826C839 |  | 270081661 | 791147 | SH |  | SOLE |  | 691632 | 0 | 99514 |
| WABTEC | COM | 929740108 |  | 1067503 | 5325 | SH |  | SOLE |  | 5324 | 0 | 1 |
| WALMART INC | COM | 931142103 |  | 1728007 | 16767 | SH |  | SOLE |  | 14568 | 0 | 2199 |
| WASTE MGMT INC DEL | COM | 94106L109 |  | 231872 | 1050 | SH |  | SOLE |  | 1050 | 0 | 0 |
| WEC ENERGY GROUP INC | COM | 92939U106 |  | 205557386 | 1793851 | SH |  | SOLE |  | 1642462 | 0 | 151389 |
| WELLS FARGO CO NEW | COM | 949746101 |  | 182085294 | 2172337 | SH |  | SOLE |  | 1865314 | 0 | 307023 |
| WEYERHAEUSER CO MTN BE | COM NEW | 962166104 |  | 895340 | 36117 | SH |  | SOLE |  | 26784 | 0 | 9333 |
| WINTRUST FINL CORP | COM | 97650W108 |  | 6734442 | 50849 | SH |  | SOLE |  | 50849 | 0 | 0 |
| WOODWARD INC | COM | 980745103 |  | 3537940 | 14000 | SH |  | SOLE |  | 14000 | 0 | 0 |
| WORKIVA INC | COM CL A | 98139A105 |  | 65167983 | 757063 | SH |  | SOLE |  | 698131 | 0 | 58932 |
| XCEL ENERGY INC | COM | 98389B100 |  | 31131583 | 386008 | SH |  | SOLE |  | 340489 | 0 | 45519 |
| XYLEM INC | COM | 98419M100 |  | 216235 | 1466 | SH |  | SOLE |  | 1466 | 0 | 0 |
| ZIMMER BIOMET HOLDINGS INC | COM | 98956P102 |  | 1374568 | 13955 | SH |  | SOLE |  | 8705 | 0 | 5250 |
| ZOETIS INC | CL A | 98978V103 |  | 218017 | 1490 | SH |  | SOLE |  | 1396 | 0 | 94 |

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