# EDGAR Filing Document

**Accession Number:** 0001070134
**File Stem:** 0001172661-26-001819
**Filing Date:** 2026-5
**Character Count:** 27799
**Document Hash:** 6fe024f79aaf739a02d7f1b76be7b5cb
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001172661-26-001819.hdr.sgml**: 20260514

**ACCESSION NUMBER**: 0001172661-26-001819

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260514

**DATE AS OF CHANGE**: 20260513

**EFFECTIVENESS DATE**: 20260514

**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:** 26974963

**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:** 03-31-2026

**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  05-13-2026<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:** 245

**Form 13F Information Table Value Total:** $9786094433

      (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 |  | 51098829 | 351848 | SH |  | SOLE |  | 212955 | 0 | 138893 |
| AAR CORP | COM | 000361105 |  | 9784739 | 89391 | SH |  | SOLE |  | 89391 | 0 | 0 |
| ABBOTT LABORATORIES | COM | 002824100 |  | 74105025 | 721778 | SH |  | SOLE |  | 524321 | 0 | 197457 |
| ABBVIE INC | COM | 00287Y109 |  | 9855994 | 45317 | SH |  | SOLE |  | 34473 | 0 | 10844 |
| ACCENTURE PLC IRELAND | SHS CLASS A | G1151C101 |  | 243698 | 1229 | SH |  | SOLE |  | 948 | 0 | 281 |
| ADOBE INC | COM | 00724F101 |  | 488348 | 2009 | SH |  | SOLE |  | 1619 | 0 | 390 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 392620 | 1930 | SH |  | SOLE |  | 1930 | 0 | 0 |
| AEBI SCHMIDT HLDG AG | COM | H00501108 |  | 100994 | 10401 | SH |  | SOLE |  | 10401 | 0 | 0 |
| ALERUS FINL CORP | COM | 01446U103 |  | 1883428 | 79436 | SH |  | SOLE |  | 79436 | 0 | 0 |
| ALLIANT ENERGY CORP | COM | 018802108 |  | 207318946 | 2889060 | SH |  | SOLE |  | 2494384 | 0 | 394676 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 462306563 | 1611610 | SH |  | SOLE |  | 1334820 | 0 | 276790 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 16036071 | 55766 | SH |  | SOLE |  | 37971 | 0 | 17795 |
| ALTRIA GROUP INC | COM | 02209S103 |  | 301163 | 4563 | SH |  | SOLE |  | 2063 | 0 | 2500 |
| AMAZON COM INC | COM | 023135106 |  | 542108482 | 2602912 | SH |  | SOLE |  | 2274892 | 0 | 328020 |
| AMBARELLA INC | SHS | G037AX101 |  | 6052482 | 117581 | SH |  | SOLE |  | 117581 | 0 | 0 |
| AMCOR PLC | COM NEW | G0250X149 |  | 680878 | 17129 | SH |  | SOLE |  | 16517 | 0 | 612 |
| AMERICAN EXPRESS CO | COM | 025816109 |  | 45015527 | 148821 | SH |  | SOLE |  | 105062 | 0 | 43759 |
| AMERICAN TOWER CORP | COM | 03027X100 |  | 348612 | 2020 | SH |  | SOLE |  | 700 | 0 | 1320 |
| AMERICAN WTR WKS CO INC NEW | COM | 030420103 |  | 683852 | 5025 | SH |  | SOLE |  | 5000 | 0 | 25 |
| AMERIPRISE FINL INC | COM | 03076C106 |  | 87567687 | 197047 | SH |  | SOLE |  | 176266 | 0 | 20781 |
| AMGEN INC | COM | 031162100 |  | 1746583 | 4964 | SH |  | SOLE |  | 4293 | 0 | 671 |
| ANALOG DEVICES INC | COM | 032654105 |  | 206155 | 648 | SH |  | SOLE |  | 648 | 0 | 0 |
| API GROUP CORP | COM STK | 00187Y100 |  | 2348904 | 57969 | SH |  | SOLE |  | 57969 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 306679348 | 1208398 | SH |  | SOLE |  | 1040952 | 0 | 167446 |
| APPLIED MATLS INC | COM | 038222105 |  | 3871455 | 11327 | SH |  | SOLE |  | 10477 | 0 | 850 |
| ASSOCIATED BANC-CORP | COM | 045487105 |  | 6983234 | 270040 | SH |  | SOLE |  | 270040 | 0 | 0 |
| AT INC | COM | 00206R102 |  | 328370 | 11327 | SH |  | SOLE |  | 5334 | 0 | 5993 |
| AUTOMATIC DATA PROCESSING IN | COM | 053015103 |  | 25282906 | 124436 | SH |  | SOLE |  | 100863 | 0 | 23573 |
| AXOGEN INC | COM | 05463X106 |  | 728860 | 22000 | SH |  | SOLE |  | 22000 | 0 | 0 |
| BADGER METER INC | COM | 056525108 |  | 15968638 | 104815 | SH |  | SOLE |  | 70300 | 0 | 34515 |
| BANK AMERICA CORP | COM | 060505104 |  | 1058216 | 21707 | SH |  | SOLE |  | 14051 | 0 | 7656 |
| BANK HAWAII CORP | COM | 062540109 |  | 297000 | 4000 | SH |  | SOLE |  | 4000 | 0 | 0 |
| BANK MONTREAL MEDIUM | COM | 063671101 |  | 913004 | 6746 | SH |  | SOLE |  | 6746 | 0 | 0 |
| BANK NEW YORK MELLON CORP | COM | 064058100 |  | 698493 | 5888 | SH |  | SOLE |  | 5713 | 0 | 175 |
| BAXTER INTL INC | COM | 071813109 |  | 378722 | 22543 | SH |  | SOLE |  | 10475 | 0 | 12068 |
| BECTON DICKINSON  CO | COM | 075887109 |  | 1119320 | 7119 | SH |  | SOLE |  | 6919 | 0 | 200 |
| BENTLEY SYS INC | COM CL B | 08265T208 |  | 8293869 | 236158 | SH |  | SOLE |  | 236158 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL A | 084670108 |  | 3590700 | 5 | SH |  | SOLE |  | 5 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 11466777 | 23929 | SH |  | SOLE |  | 15673 | 0 | 8256 |
| BEST BUY INC | COM | 086516101 |  | 378459 | 5895 | SH |  | SOLE |  | 5895 | 0 | 0 |
| BIO-TECHNE CORP | COM | 09073M104 |  | 143729727 | 2750282 | SH |  | SOLE |  | 2382418 | 0 | 367864 |
| BLACK HILLS CORP | COM | 092113109 |  | 6821962 | 98285 | SH |  | SOLE |  | 98285 | 0 | 0 |
| BOEING CO | COM | 097023105 |  | 516881 | 2597 | SH |  | SOLE |  | 1897 | 0 | 700 |
| BOSTON SCIENTIFIC CORP | COM | 101137107 |  | 638544 | 10176 | SH |  | SOLE |  | 10176 | 0 | 0 |
| BP PLC | SPONSORED ADR | 055622104 |  | 263670 | 5610 | SH |  | SOLE |  | 3110 | 0 | 2500 |
| BRADY CORP | CL A | 104674106 |  | 568680 | 7000 | SH |  | SOLE |  | 7000 | 0 | 0 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 1467730 | 24200 | SH |  | SOLE |  | 16482 | 0 | 7718 |
| BROADCOM INC | COM | 11135F101 |  | 1093499 | 3533 | SH |  | SOLE |  | 3533 | 0 | 0 |
| C H ROBINSON WORLDWIDE IN | COM NEW | 12541W209 |  | 140861226 | 848203 | SH |  | SOLE |  | 743302 | 0 | 104901 |
| CANADIAN IMPERIAL BANK OF CO | COM | 136069101 |  | 964176 | 10176 | SH |  | SOLE |  | 10176 | 0 | 0 |
| CARDINAL HEALTH INC | COM | 14149Y108 |  | 448189 | 2121 | SH |  | SOLE |  | 2121 | 0 | 0 |
| CASEYS GEN STORES INC | COM | 147528103 |  | 69828705 | 95937 | SH |  | SOLE |  | 85448 | 0 | 10489 |
| CATERPILLAR INC | COM | 149123101 |  | 13071087 | 18450 | SH |  | SOLE |  | 17072 | 0 | 1378 |
| CHEVRON CORPORATION | COM | 166764100 |  | 8072617 | 39017 | SH |  | SOLE |  | 27717 | 0 | 11300 |
| CHUBB LTD SWITZ | COM | H1467J104 |  | 794943 | 2439 | SH |  | SOLE |  | 2164 | 0 | 275 |
| CIENA CORP | COM NEW | 171779309 |  | 1087044 | 2800 | SH |  | SOLE |  | 2800 | 0 | 0 |
| CINTAS CORP | COM | 172908105 |  | 3795163 | 22438 | SH |  | SOLE |  | 15754 | 0 | 6684 |
| CISCO SYS INC | COM | 17275R102 |  | 1538377 | 19827 | SH |  | SOLE |  | 16279 | 0 | 3548 |
| CLEARFIELD INC | COM | 18482P103 |  | 19368973 | 731733 | SH |  | SOLE |  | 685512 | 0 | 46221 |
| CLEVELAND-CLIFFS INC NEW | COM | 185899101 |  | 114075 | 13500 | SH |  | SOLE |  | 13500 | 0 | 0 |
| COCA COLA CO | COM | 191216100 |  | 1773106 | 23315 | SH |  | SOLE |  | 12455 | 0 | 10860 |
| COGNEX CORP | COM | 192422103 |  | 59957636 | 1223875 | SH |  | SOLE |  | 1101172 | 0 | 122703 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 3435696 | 26028 | SH |  | SOLE |  | 21928 | 0 | 4100 |
| CORNING INC | COM | 219350105 |  | 11999353 | 88250 | SH |  | SOLE |  | 74640 | 0 | 13610 |
| COSTCO WHOLESALE CORPORATION | COM | 22160K105 |  | 2952422 | 2963 | SH |  | SOLE |  | 2697 | 0 | 266 |
| CULLEN FROST BANKERS INC | COM | 229899109 |  | 5852768 | 42696 | SH |  | SOLE |  | 42696 | 0 | 0 |
| CUMMINS INC | COM | 231021106 |  | 284075 | 528 | SH |  | SOLE |  | 0 | 0 | 528 |
| DANAHER CORP DEL | COM | 235851102 |  | 215196 | 1135 | SH |  | SOLE |  | 1060 | 0 | 75 |
| DEERE  CO | COM | 244199105 |  | 322208 | 572 | SH |  | SOLE |  | 132 | 0 | 440 |
| DIGI INTL INC | COM | 253798102 |  | 337400 | 7000 | SH |  | SOLE |  | 7000 | 0 | 0 |
| DISNEY WALT CO | COM | 254687106 |  | 23116357 | 239846 | SH |  | SOLE |  | 164996 | 0 | 74850 |
| DONALDSON INC | COM | 257651109 |  | 42381944 | 499374 | SH |  | SOLE |  | 369351 | 0 | 130023 |
| ECOLAB INC | COM | 278865100 |  | 202658747 | 761818 | SH |  | SOLE |  | 628517 | 0 | 133301 |
| ELI LILLY  CO | COM | 532457108 |  | 300126470 | 326306 | SH |  | SOLE |  | 273711 | 0 | 52595 |
| EMERSON ELEC CO | COM | 291011104 |  | 8483807 | 64752 | SH |  | SOLE |  | 53093 | 0 | 11659 |
| ENTEGRIS INC | COM | 29362U104 |  | 157465513 | 1343104 | SH |  | SOLE |  | 1201280 | 0 | 141824 |
| ENTERPRISE PRODS PARTNERS L | COM | 293792107 |  | 325424 | 8600 | SH |  | SOLE |  | 8600 | 0 | 0 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 14170512 | 83523 | SH |  | SOLE |  | 59775 | 0 | 23748 |
| FASTENAL CO | COM | 311900104 |  | 182001337 | 3922442 | SH |  | SOLE |  | 3230200 | 0 | 692242 |
| FISERV INC | COM | 337738108 |  | 120129197 | 2152853 | SH |  | SOLE |  | 1891359 | 0 | 261494 |
| FULLER H B CO | COM | 359694106 |  | 145664537 | 2361617 | SH |  | SOLE |  | 2102822 | 0 | 258795 |
| GE AEROSPACE | COM NEW | 369604301 |  | 2135369 | 7525 | SH |  | SOLE |  | 7525 | 0 | 0 |
| GE VERNOVA INC | COM | 36828A101 |  | 738473 | 846 | SH |  | SOLE |  | 846 | 0 | 0 |
| GENERAC HLDGS INC | COM | 368736104 |  | 19483582 | 99747 | SH |  | SOLE |  | 77008 | 0 | 22739 |
| GENERAL MILLS INC | COM | 370334104 |  | 3607511 | 96924 | SH |  | SOLE |  | 60032 | 0 | 36892 |
| GILEAD SCIENCES INC | COM | 375558103 |  | 317067 | 2275 | SH |  | SOLE |  | 1875 | 0 | 400 |
| GLACIER BANCORP INC NEW | COM | 37637Q105 |  | 4743954 | 106200 | SH |  | SOLE |  | 106200 | 0 | 0 |
| GRACO INC | COM | 384109104 |  | 322997719 | 3815684 | SH |  | SOLE |  | 3211577 | 0 | 604107 |
| HARLEY DAVIDSON INC | COM | 412822108 |  | 283080 | 14000 | SH |  | SOLE |  | 14000 | 0 | 0 |
| HAWKINS INC | COM | 420261109 |  | 3986074 | 25951 | SH |  | SOLE |  | 17847 | 0 | 8104 |
| HERSHEY CO | COM | 427866108 |  | 13421378 | 64560 | SH |  | SOLE |  | 52445 | 0 | 12115 |
| HOME DEPOT INC | COM | 437076102 |  | 50451122 | 153398 | SH |  | SOLE |  | 107201 | 0 | 46197 |
| HONEYWELL INTL INC | COM | 438516106 |  | 47115501 | 208448 | SH |  | SOLE |  | 142374 | 0 | 66074 |
| HORMEL FOODS CORP | COM | 440452100 |  | 77416771 | 3417959 | SH |  | SOLE |  | 2887363 | 0 | 530596 |
| HUB GROUP INC | CL A | 443320106 |  | 5763985 | 159933 | SH |  | SOLE |  | 159933 | 0 | 0 |
| HUNTINGTON BANCSHARES INC | COM | 446150104 |  | 426353 | 27243 | SH |  | SOLE |  | 27243 | 0 | 0 |
| IDACORP INC | COM | 451107106 |  | 43087870 | 301377 | SH |  | SOLE |  | 268578 | 0 | 32799 |
| IDEX CORP | COM | 45167R104 |  | 758200 | 4000 | SH |  | SOLE |  | 4000 | 0 | 0 |
| IDEXX LABS INC | COM | 45168D104 |  | 1168731 | 2080 | SH |  | SOLE |  | 2080 | 0 | 0 |
| ILLINOIS TOOL WKS INC | COM | 452308109 |  | 386270 | 1484 | SH |  | SOLE |  | 1484 | 0 | 0 |
| INTEL CORP | COM | 458140100 |  | 632515 | 14333 | SH |  | SOLE |  | 4500 | 0 | 9833 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 883996 | 3647 | SH |  | SOLE |  | 3447 | 0 | 200 |
| INTUITIVE SURGICAL INC | COM NEW | 46120E602 |  | 46045986 | 99885 | SH |  | SOLE |  | 87732 | 0 | 12153 |
| INVESCO EXCHANGE TRADED FD T | S EQL WGT | 46137V357 |  | 1033489 | 5385 | SH |  | SOLE |  | 5385 | 0 | 0 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 1015943 | 1760 | SH |  | SOLE |  | 1060 | 0 | 700 |
| ISHARES GOLD TR | ISHARES NEW | 464285204 |  | 310764 | 3525 | SH |  | SOLE |  | 3525 | 0 | 0 |
| ISHARES TR | GLOBAL TECH ETF | 464287291 |  | 314780 | 3150 | SH |  | SOLE |  | 3150 | 0 | 0 |
| ISHARES TR | MSCI EAFE ETF | 464287465 |  | 1525203 | 15702 | SH |  | SOLE |  | 15702 | 0 | 0 |
| ISHARES TR | S 500 GRWT ETF | 464287309 |  | 283793 | 2509 | SH |  | SOLE |  | 2509 | 0 | 0 |
| ISHARES TR | CORE S ETF | 464287200 |  | 4220850 | 6461 | SH |  | SOLE |  | 6461 | 0 | 0 |
| ISHARES TR | IBONDS 26 TRM TS | 46436E858 |  | 326653 | 14255 | SH |  | SOLE |  | 0 | 0 | 14255 |
| ISHARES TR | MSCI USA MIN VOL | 46429B697 |  | 360010 | 3884 | SH |  | SOLE |  | 3884 | 0 | 0 |
| ISHARES TR | MSCI ACWI EX US | 464288240 |  | 516949 | 7550 | SH |  | SOLE |  | 7550 | 0 | 0 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 299587 | 2410 | SH |  | SOLE |  | 684 | 0 | 1726 |
| ISHARES TR | S 500 VAL ETF | 464287408 |  | 241344 | 1143 | SH |  | SOLE |  | 1143 | 0 | 0 |
| ISHARES TR | RUS 1000 VAL ETF | 464287598 |  | 547423 | 2562 | SH |  | SOLE |  | 2562 | 0 | 0 |
| JAMES HARDIE INDS PLC | ORD SHS | G4253H101 |  | 4560013 | 240761 | SH |  | SOLE |  | 236486 | 0 | 4275 |
| JBT MAREL CORPORATION | COM | 477839104 |  | 7557117 | 59100 | SH |  | SOLE |  | 59100 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 141186327 | 577590 | SH |  | SOLE |  | 431521 | 0 | 146069 |
| JPMORGAN CHASE  CO | COM | 46625H100 |  | 310102590 | 1054197 | SH |  | SOLE |  | 932683 | 0 | 121514 |
| KIMBERLY-CLARK CORP | COM | 494368103 |  | 935180 | 9694 | SH |  | SOLE |  | 9241 | 0 | 453 |
| KNIFE RIVER CORP | COMMON STOCK | 498894104 |  | 10976046 | 134428 | SH |  | SOLE |  | 134428 | 0 | 0 |
| KRAFT HEINZ CO | COM | 500754106 |  | 7119502 | 316563 | SH |  | SOLE |  | 200113 | 0 | 116450 |
| L3HARRIS TECHNOLOGIES INC | COM | 502431109 |  | 356540 | 1033 | SH |  | SOLE |  | 1033 | 0 | 0 |
| LIFE TIME GROUP HOLDINGS INC | COMMON STOCK | 53190C102 |  | 4642220 | 172317 | SH |  | SOLE |  | 172317 | 0 | 0 |
| LITTELFUSE INC | COM | 537008104 |  | 245930339 | 724710 | SH |  | SOLE |  | 633357 | 0 | 91353 |
| LOWES COS INC | COM | 548661107 |  | 1618518 | 6850 | SH |  | SOLE |  | 6432 | 0 | 418 |
| MARATHON PETE CORP | COM | 56585A102 |  | 339410 | 1390 | SH |  | SOLE |  | 390 | 0 | 1000 |
| MARSH  MCLENNAN COS INC | COM | 571748102 |  | 225485 | 1300 | SH |  | SOLE |  | 1300 | 0 | 0 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 259823 | 520 | SH |  | SOLE |  | 286 | 0 | 234 |
| MCDONALDS CORP | COM | 580135101 |  | 4453538 | 14329 | SH |  | SOLE |  | 13548 | 0 | 781 |
| MEDPACE HLDGS INC | COM | 58506Q109 |  | 41161887 | 85720 | SH |  | SOLE |  | 79645 | 0 | 6075 |
| MEDTRONIC PLC | SHS | G5960L103 |  | 34830602 | 401968 | SH |  | SOLE |  | 322812 | 0 | 79156 |
| MERCK  CO INC | COM | 58933Y105 |  | 6056361 | 50348 | SH |  | SOLE |  | 35125 | 0 | 15223 |
| META PLATFORMS INC | CL A | 30303M102 |  | 185727701 | 324625 | SH |  | SOLE |  | 292223 | 0 | 32402 |
| MICRON TECHNOLOGY INC | COM | 595112103 |  | 234123 | 693 | SH |  | SOLE |  | 693 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 719014922 | 1942391 | SH |  | SOLE |  | 1698591 | 0 | 243800 |
| MOSAIC CO | COM | 61945C103 |  | 510000 | 20000 | SH |  | SOLE |  | 20000 | 0 | 0 |
| MOTOROLA SOLUTIONS INC | COM NEW | 620076307 |  | 234661466 | 540732 | SH |  | SOLE |  | 475420 | 0 | 65312 |
| MSA SAFETY INC | COM | 553498106 |  | 241007 | 1470 | SH |  | SOLE |  | 1470 | 0 | 0 |
| MURPHY OIL CORP | COM | 626717102 |  | 206250 | 5000 | SH |  | SOLE |  | 5000 | 0 | 0 |
| NEWMONT CORP | COM | 651639106 |  | 541250 | 5000 | SH |  | SOLE |  | 5000 | 0 | 0 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 1139823 | 12272 | SH |  | SOLE |  | 10278 | 0 | 1994 |
| NIKE INC | CL B | 654106103 |  | 3483743 | 65955 | SH |  | SOLE |  | 46505 | 0 | 19450 |
| NORFOLK SOUTHN CORP | COM | 655844108 |  | 779205 | 2715 | SH |  | SOLE |  | 915 | 0 | 1800 |
| NORTHERN TR CORP | COM | 665859104 |  | 334968 | 2400 | SH |  | SOLE |  | 400 | 0 | 2000 |
| NORTHWESTERN ENERGY GROUP IN | COM NEW | 668074305 |  | 5670972 | 86002 | SH |  | SOLE |  | 86002 | 0 | 0 |
| NVE CORP | COM NEW | 629445206 |  | 393000 | 6000 | SH |  | SOLE |  | 6000 | 0 | 0 |
| NVENT ELEC PLC | SHS | G6700G107 |  | 244416234 | 2066420 | SH |  | SOLE |  | 1820346 | 0 | 246074 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 830379664 | 4761351 | SH |  | SOLE |  | 4072801 | 0 | 688550 |
| OKLO INC | COM CL A | 02156V109 |  | 771670 | 15561 | SH |  | SOLE |  | 1561 | 0 | 14000 |
| OLD NATL BANCORP IND | COM | 680033107 |  | 9573521 | 433191 | SH |  | SOLE |  | 433191 | 0 | 0 |
| ORACLE CORP | COM | 68389X105 |  | 4518925 | 30718 | SH |  | SOLE |  | 24393 | 0 | 6325 |
| OSHKOSH CORP | COM | 688239201 |  | 4884869 | 33183 | SH |  | SOLE |  | 33183 | 0 | 0 |
| PALO ALTO NETWORKS INC | COM | 697435105 |  | 85399097 | 532679 | SH |  | SOLE |  | 485573 | 0 | 47106 |
| PATRICK INDS INC | COM | 703343103 |  | 6430287 | 57894 | SH |  | SOLE |  | 57894 | 0 | 0 |
| PENTAIR PLC | SHS | G7S00T104 |  | 5015620 | 57578 | SH |  | SOLE |  | 56298 | 0 | 1280 |
| PEPSICO INC | COM | 713448108 |  | 1394194 | 8978 | SH |  | SOLE |  | 8978 | 0 | 0 |
| PFIZER INC | COM | 717081103 |  | 2016958 | 71829 | SH |  | SOLE |  | 59839 | 0 | 11990 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 419468 | 2537 | SH |  | SOLE |  | 37 | 0 | 2500 |
| PHILLIPS 66 | COM | 718546104 |  | 1203117 | 6604 | SH |  | SOLE |  | 5304 | 0 | 1300 |
| PIPER SANDLER COMPANIES | COM NEW | 724078209 |  | 41803190 | 546090 | SH |  | SOLE |  | 495246 | 0 | 50844 |
| PLEXUS CORP | COM | 729132100 |  | 9290105 | 45868 | SH |  | SOLE |  | 45868 | 0 | 0 |
| PLUG PWR INC | COM NEW | 72919P202 |  | 22600 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| POLARIS INC | COM | 731068102 |  | 3405760 | 62491 | SH |  | SOLE |  | 60056 | 0 | 2435 |
| PRINCIPAL FINANCIAL GROUP IN | COM | 74251V102 |  | 14767665 | 163884 | SH |  | SOLE |  | 117121 | 0 | 46763 |
| PROCTER  GAMBLE CO | COM | 742718109 |  | 35158089 | 243410 | SH |  | SOLE |  | 187995 | 0 | 55415 |
| QCR HLDGS INC | COM | 74727A104 |  | 7776121 | 91002 | SH |  | SOLE |  | 91002 | 0 | 0 |
| QUALCOMM INC | COM | 747525103 |  | 61564052 | 478055 | SH |  | SOLE |  | 381948 | 0 | 96107 |
| RADNET INC | COM | 750491102 |  | 7439853 | 133116 | SH |  | SOLE |  | 133116 | 0 | 0 |
| ROCKWELL AUTOMATION INC | COM | 773903109 |  | 101761501 | 283553 | SH |  | SOLE |  | 242980 | 0 | 40573 |
| RTX CORPORATION | COM | 75513E101 |  | 1651610 | 8562 | SH |  | SOLE |  | 5506 | 0 | 3056 |
| SALESFORCE INC | COM | 79466L302 |  | 9332753 | 49996 | SH |  | SOLE |  | 34612 | 0 | 15384 |
| SCHWAB CHARLES CORP | COM | 808513105 |  | 23281853 | 247732 | SH |  | SOLE |  | 165829 | 0 | 81903 |
| SCHWAB STRATEGIC TR | INTL EQTY ETF | 808524805 |  | 757004 | 30586 | SH |  | SOLE |  | 586 | 0 | 30000 |
| SCHWAB STRATEGIC TR | US BRD MKT ETF | 808524102 |  | 6557275 | 261246 | SH |  | SOLE |  | 84246 | 0 | 177000 |
| SEI INVTS CO | COM | 784117103 |  | 258951 | 3300 | SH |  | SOLE |  | 0 | 0 | 3300 |
| SELECT SECTOR SPDR TR | STATE STREET TEC | 81369Y803 |  | 594090 | 4470 | SH |  | SOLE |  | 4470 | 0 | 0 |
| SHELL PLC | SPON ADS | 780259305 |  | 756276 | 8132 | SH |  | SOLE |  | 8132 | 0 | 0 |
| SHERWIN WILLIAMS CO | COM | 824348106 |  | 140324023 | 437760 | SH |  | SOLE |  | 389648 | 0 | 48112 |
| SKYWATER TECHNOLOGY INC | COM | 83089J108 |  | 356330 | 13000 | SH |  | SOLE |  | 13000 | 0 | 0 |
| SLB LIMITED | COM STK | 806857108 |  | 282645 | 5500 | SH |  | SOLE |  | 5500 | 0 | 0 |
| SNAP INC | CL A | 83304A106 |  | 103615 | 22525 | SH |  | SOLE |  | 0 | 0 | 22525 |
| SNAP ON INC | COM | 833034101 |  | 1134336 | 3123 | SH |  | SOLE |  | 2998 | 0 | 125 |
| SOLSTICE ADVANCED MATLS INC | COM SHS | 83443Q103 |  | 1693722 | 22239 | SH |  | SOLE |  | 17163 | 0 | 5076 |
| SOLVENTUM CORP | COM SHS | 83444M101 |  | 4735099 | 72513 | SH |  | SOLE |  | 40643 | 0 | 31870 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 615315 | 1430 | SH |  | SOLE |  | 1130 | 0 | 300 |
| SPDR SERIES TRUST | STATE STREET SPD | 78468R663 |  | 640105 | 6985 | SH |  | SOLE |  | 5892 | 0 | 1093 |
| SPROUTS FMRS MKT INC | COM | 85208M102 |  | 22535612 | 292177 | SH |  | SOLE |  | 265242 | 0 | 26935 |
| STATE STR SPDR S 500 ETF T | TR UNIT | 78462F103 |  | 17676384 | 27180 | SH |  | SOLE |  | 26376 | 0 | 804 |
| STATE STR SPDR S MIDCAP 40 | UTSER1 S | 78467Y107 |  | 505203 | 819 | SH |  | SOLE |  | 819 | 0 | 0 |
| STRYKER CORPORATION | COM | 863667101 |  | 1365291 | 4155 | SH |  | SOLE |  | 4060 | 0 | 95 |
| STURM RUGER  CO INC | COM | 864159108 |  | 481080 | 12000 | SH |  | SOLE |  | 12000 | 0 | 0 |
| SYSCO CORP | COM | 871829107 |  | 7081571 | 99279 | SH |  | SOLE |  | 76723 | 0 | 22556 |
| TAIWAN SEMICONDUCTOR MANUFAC | SPONSORED ADS | 874039100 |  | 164329539 | 486253 | SH |  | SOLE |  | 437464 | 0 | 48789 |
| TARGET CORP | COM | 87612E106 |  | 20468179 | 168879 | SH |  | SOLE |  | 132611 | 0 | 36268 |
| TENNANT CO | COM | 880345103 |  | 53350010 | 803464 | SH |  | SOLE |  | 686297 | 0 | 117167 |
| TEXAS INSTRS INC | COM | 882508104 |  | 44875655 | 231151 | SH |  | SOLE |  | 196535 | 0 | 34616 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 609989 | 1241 | SH |  | SOLE |  | 241 | 0 | 1000 |
| TIMKEN CO | COM | 887389104 |  | 201140 | 2000 | SH |  | SOLE |  | 2000 | 0 | 0 |
| TJX COS INC NEW | COM | 872540109 |  | 529406 | 3315 | SH |  | SOLE |  | 3315 | 0 | 0 |
| TORO CO | COM | 891092108 |  | 254061812 | 2718983 | SH |  | SOLE |  | 2308837 | 0 | 410146 |
| TRANE TECHNOLOGIES PLC | SHS | G8994E103 |  | 457164 | 1097 | SH |  | SOLE |  | 539 | 0 | 558 |
| TRAVELERS COMPANIES INC | COM | 89417E109 |  | 41539316 | 142414 | SH |  | SOLE |  | 122014 | 0 | 20400 |
| TREX INC | COM | 89531P105 |  | 4225521 | 116022 | SH |  | SOLE |  | 116022 | 0 | 0 |
| TRUST FOR PROFESSIONAL MANAG | MAIRS  PWR MINN | 89834G836 |  | 9090429 | 410865 | SH |  | SOLE |  | 383932 | 0 | 26933 |
| UIPATH INC | CL A | 90364P105 |  | 340770 | 30700 | SH |  | SOLE |  | 14250 | 0 | 16450 |
| ULTA BEAUTY INC | COM | 90384S303 |  | 316240 | 605 | SH |  | SOLE |  | 545 | 0 | 60 |
| UNION PAC CORP | COM | 907818108 |  | 1016578 | 4190 | SH |  | SOLE |  | 2070 | 0 | 2120 |
| UNITED FIRE GROUP INC | COM | 910340108 |  | 244596 | 6600 | SH |  | SOLE |  | 6600 | 0 | 0 |
| UNITED PARCEL SVCS INC | CL B | 911312106 |  | 1714468 | 17427 | SH |  | SOLE |  | 10098 | 0 | 7329 |
| UNITED THERAPEUTICS CORP DEL | COM | 91307C102 |  | 207543 | 350 | SH |  | SOLE |  | 350 | 0 | 0 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 200529681 | 741083 | SH |  | SOLE |  | 644771 | 0 | 96312 |
| US BANCORP | COM NEW | 902973304 |  | 31284966 | 601518 | SH |  | SOLE |  | 484042 | 0 | 117476 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 8883452 | 14866 | SH |  | SOLE |  | 14866 | 0 | 0 |
| VANGUARD INDEX FDS | MID CAP ETF | 922908629 |  | 3158118 | 10997 | SH |  | SOLE |  | 10997 | 0 | 0 |
| VANGUARD INDEX FDS | LARGE CAP ETF | 922908637 |  | 244160 | 817 | SH |  | SOLE |  | 0 | 0 | 817 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 496273 | 1546 | SH |  | SOLE |  | 1211 | 0 | 335 |
| VANGUARD INDEX FDS | SMALL CP ETF | 922908751 |  | 1520490 | 5805 | SH |  | SOLE |  | 5805 | 0 | 0 |
| VANGUARD INDEX FDS | GROWTH ETF | 922908736 |  | 300512 | 688 | SH |  | SOLE |  | 688 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 |  | 1108836 | 20515 | SH |  | SOLE |  | 20515 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | ALLWRLD EX US | 922042775 |  | 238668 | 3178 | SH |  | SOLE |  | 3178 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | VNG RUS1000IDX | 92206C730 |  | 963555 | 3270 | SH |  | SOLE |  | 3270 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | LONG TERM TREAS | 92206C847 |  | 713018 | 12875 | SH |  | SOLE |  | 12875 | 0 | 0 |
| VANGUARD SPECIALIZED FUNDS | DIV APP ETF | 921908844 |  | 494638 | 2300 | SH |  | SOLE |  | 2280 | 0 | 20 |
| VANGUARD TAX-MANAGED FDS | VAN FTSE DEV MKT | 921943858 |  | 2898847 | 45237 | SH |  | SOLE |  | 45237 | 0 | 0 |
| VANGUARD WORLD FD | INF TECH ETF | 92204A702 |  | 233514 | 334 | SH |  | SOLE |  | 224 | 0 | 110 |
| VERICEL CORP | COM | 92346J108 |  | 832077 | 25865 | SH |  | SOLE |  | 25865 | 0 | 0 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 166434887 | 3315436 | SH |  | SOLE |  | 2945045 | 0 | 370391 |
| VIASAT INC | COM | 92552V100 |  | 595400 | 13000 | SH |  | SOLE |  | 13000 | 0 | 0 |
| VISA INC | COM CL A | 92826C839 |  | 254159034 | 840917 | SH |  | SOLE |  | 729165 | 0 | 111752 |
| WABTEC | COM | 929740108 |  | 1308779 | 5237 | SH |  | SOLE |  | 5236 | 0 | 1 |
| WALMART INC | COM | 931142103 |  | 1951196 | 15700 | SH |  | SOLE |  | 13541 | 0 | 2159 |
| WASTE MGMT INC DEL | COM | 94106L109 |  | 91511570 | 398240 | SH |  | SOLE |  | 371835 | 0 | 26405 |
| WATERS CORP | COM | 941848103 |  | 285590 | 958 | SH |  | SOLE |  | 931 | 0 | 27 |
| WEC ENERGY GROUP INC | COM | 92939U106 |  | 221200002 | 1910685 | SH |  | SOLE |  | 1694886 | 0 | 215799 |
| WELLS FARGO  CO | COM | 949746101 |  | 108737395 | 1365876 | SH |  | SOLE |  | 1083108 | 0 | 282768 |
| WEYERHAEUSER CO | COM NEW | 962166104 |  | 882338 | 36117 | SH |  | SOLE |  | 26784 | 0 | 9333 |
| WINTRUST FINL CORP | COM | 97650W108 |  | 8022951 | 57744 | SH |  | SOLE |  | 56044 | 0 | 1700 |
| WOODWARD INC | COM | 980745103 |  | 5010880 | 14000 | SH |  | SOLE |  | 14000 | 0 | 0 |
| WORKIVA INC | COM CL A | 98139A105 |  | 42673613 | 715640 | SH |  | SOLE |  | 647490 | 0 | 68150 |
| XCEL ENERGY INC | COM | 98389B100 |  | 31955810 | 402263 | SH |  | SOLE |  | 349379 | 0 | 52884 |
| XYLEM INC | COM | 98419M100 |  | 1683755 | 14090 | SH |  | SOLE |  | 9785 | 0 | 4305 |
| ZIMMER BIOMET HOLDINGS INC | COM | 98956P102 |  | 727881 | 8050 | SH |  | SOLE |  | 2800 | 0 | 5250 |
| ZOETIS INC | CL A | 98978V103 |  | 35831342 | 303116 | SH |  | SOLE |  | 267788 | 0 | 35328 |

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