Andrew R. Adams - Mairs & Power Growth Fund 13F Activity & Position Changes (Q4 2025)

As of Dec 31, 2025, the Mairs & Power Growth Fund portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Feb 17, 2026. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.

During Q4 2025, the filing reported:

New Buys - Bentley Systems, Incorporated, Intuitive Surgical, Inc., iShares S&P 500 Value ETF, Novartis AG, Vanguard Tax-Exempt Bond ETF, and 5 more

Increases - Trust for Professional, Apple Inc., iShares MSCI ACWI ex U.S. ETF, Automatic Data Processing, Inc., Ameriprise Financial, Inc., and 40 more

Reductions - AbbVie Inc., Abbott Laboratories, Accenture plc, Adobe Inc., AAR Corp., and 132 more

Complete Exits - Arthur J. Gallagher & Co., Allete, Inc., Carrier Global Corporation, Comcast Corporation, iShares MSCI Emerging Index Fun, and 10 more

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Date	Symbol	Name	Type	Change Qty	% Change	Value	Remaining
Q4 2025	89834G836 Trust for Professional	Trust for Professional	Buy	+95,550	+41.7%	$7.32M	324,736
Q4 2025	AAPL Apple Inc.	Apple Inc.	Buy	+34,743	+2.9%	$330.99M	1,217,486
Q4 2025	ABBV AbbVie Inc.	AbbVie Inc.	Sell	-965	-2.0%	$10.61M	46,456
Q4 2025	ABT Abbott Laboratories	Abbott Laboratories	Sell	-14,803	-2.0%	$88.72M	708,081
Q4 2025	ACN Accenture plc	Accenture plc	Sell	-148	-11.1%	$317.67K	1,184
Q4 2025	ACWX iShares MSCI ACWI ex U.S. ETF	iShares MSCI ACWI ex U.S. ETF	Buy	+6,873	+238.9%	$654.52K	9,750
Q4 2025	ADBE Adobe Inc.	Adobe Inc.	Sell	-20	-1.0%	$703.13K	2,009
Q4 2025	ADP Automatic Data Processing, Inc.	Automatic Data Processing, Inc.	Buy	+5,674	+5.4%	$28.50M	110,781
Q4 2025	AIR AAR Corp.	AAR Corp.	Sell	-15,526	-12.2%	$9.29M	112,176
Q4 2025	AJG Arthur J. Gallagher & Co.	Arthur J. Gallagher & Co.	Sell - Position Exit	-760	-100.0%	$0.00	-
Q4 2025	ALE Allete, Inc.	Allete, Inc.	Sell - Position Exit	-3,288	-100.0%	$0.00	-
Q4 2025	ALRS Alerus Financial Corporation	Alerus Financial Corporation	Sell	-7,387	-8.5%	$1.79M	79,436
Q4 2025	AMD Advanced Micro Devices, Inc.	Advanced Micro Devices, Inc.	Sell	-583	-22.5%	$431.10K	2,013
Q4 2025	AMGN Amgen Inc.	Amgen Inc.	Sell	-143	-2.5%	$1.81M	5,524
Q4 2025	AMP Ameriprise Financial, Inc.	Ameriprise Financial, Inc.	Buy	+7,905	+22.8%	$20.89M	42,611
Q4 2025	AMT American Tower Corporation (REI	American Tower Corporation (REI	Sell	-1,011	-33.4%	$354.65K	2,020
Q4 2025	AMZN Amazon.com, Inc.	Amazon.com, Inc.	Buy	+36,866	+1.4%	$598.46M	2,592,768
Q4 2025	ASB Associated Banc-Corp	Associated Banc-Corp	Sell	-11,737	-4.3%	$6.70M	260,279
Q4 2025	AVGO Broadcom Inc.	Broadcom Inc.	Sell	-597	-15.2%	$1.15M	3,323
Q4 2025	AWK American Water Works Company, I	American Water Works Company, I	Sell	-138	-2.7%	$658.50K	5,046
Q4 2025	AXP American Express Company	American Express Company	Sell	-10,572	-6.2%	$58.99M	159,459
Q4 2025	BA Boeing Company (The)	Boeing Company (The)	Sell	-84	-3.6%	$492.86K	2,270
Q4 2025	BAC Bank of America Corporation	Bank of America Corporation	Sell	-2,483	-9.9%	$1.24M	22,493
Q4 2025	BAX Baxter International Inc.	Baxter International Inc.	Sell	-5,265	-17.7%	$469.26K	24,556
Q4 2025	BBY Best Buy Co., Inc.	Best Buy Co., Inc.	Sell	-3,345	-33.4%	$445.55K	6,657
Q4 2025	BIL SPDR Bloomberg 1-3 Month T-Bill	SPDR Bloomberg 1-3 Month T-Bill	Buy	+3,356	+108.9%	$588.30K	6,438
Q4 2025	BKH Black Hills Corporation	Black Hills Corporation	Sell	-3,511	-3.6%	$6.54M	94,138
Q4 2025	BLK BlackRock, Inc.	BlackRock, Inc.	Sell	-141	-42.6%	$203.37K	190
Q4 2025	BMI Badger Meter, Inc.	Badger Meter, Inc.	Sell	-1,046	-1.0%	$17.93M	102,813
Q4 2025	BMY Bristol-Myers Squibb Company	Bristol-Myers Squibb Company	Sell	-1,454	-5.5%	$1.35M	24,938

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