N-PORT filing recap · March 2026

What did Mairs & Power Fund buy in March 2026?

Reported stock-position changes between this filing and the previous one. These are Mairs & Power Fund's own holdings, not the firm's.

Stock value

$4.86B

Positions

Estimated turnover

13.9%

Turnover is a proxy: verified trade-origin share changes valued at period-end and divided by average reported stock value. SEC holdings reports do not disclose execution dates or prices. Corporate actions and unreconciled activity are excluded.

Period in review

Mairs & Power Fund opened new positions in Waste Management, Ameriprise Financial, Piper Sandler, and Sprouts Farmers Market, while exiting Kraft Heinz, Piper Sandler, and Salesforce. The fund substantially increased its Fiserv and Intuitive Surgical stakes, and dramatically added to Palo Alto Networks. Notable trims included JPMorgan Chase, The Toro Company, UnitedHealth Group, Fastenal, Wells Fargo, and Johnson & Johnson.

New positions

WMWaste Management, Inc$62.04Mreported value+270.0K shares AMPAmeriprise Financial Inc$50.52Mreported value+113.7K shares PIPRPiper Sandler CompaniesMIXED CORP ACTION$26.90Mreported value+351.3K shares SFMSprouts Farmers Market, Inc.$13.88Mreported value+180.0K shares

Increased positions

VVisa Inc.$135.08Mreported value+2.9K shares+0.7%FISVFiserv Inc$70.97Mreported value+398.5K shares+45.6%PANWPalo Alto Networks, Inc$61.40Mreported value+231.4K shares+152.6%ISRGIntuitive Surgical, Inc.$31.71Mreported value+18.8K shares

Reduced positions

NVDANvidia Corp$456.54Mreported value-171.1K shares-6.1%MSFTMicrosoft Corporation$441.85Mreported value-36.2K shares-2.9%AMZNAmazon.com Inc$337.98Mreported value-49.2K shares-2.9%JPMJPMorgan Chase & Co$198.96Mreported value-201.6K shares

Exited positions

CRMSalesforce, Inc.$42.72Mprior reported value-161.3K shares-100.0%PIPRPiper Sandler CompaniesMIXED CORP ACTION$42.63Mprior reported value-125.5K shares-100.0%KHCKraft Heinz Co$27.04Mprior reported value-1.11M shares-100.0%