Andrew R. Adams – Mairs & Power Growth Fund Portfolio Activity & Recent Trades (Jun 30, 2025)

As of Jun 30, 2025, the Mairs & Power Growth Fund portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Aug 14, 2025. 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 Q2 2025, the filing reported:

New Buys – IDACORP, Inc. (IDA), Trust for Professional (89834G836), RadNet, Inc. (RDNT), NeoGenomics, Inc. (NEO), iShares iBonds Dec 2026 Term Tr (IBTG), and 18 more

Increases – Fastenal Company (FAST), Meta Platforms, Inc. (META), Entegris, Inc. (ENTG), UnitedHealth Group Incorporated (UNH), 3M Company (MMM), and 96 more

Reductions – Berkshire Hathaway Inc. (BRK-A), Vanguard Large-Cap ETF (VV), MSA Safety Incorporated (MSA), Waste Management, Inc. (WM), Arthur J. Gallagher & Co. (AJG), and 80 more

Complete Exits – Vanguard Total Stock Market ETF (VTI), Schlumberger N.V. (SLB), Surmodics, Inc. (SRDX), Corteva, Inc. (CTVA), Patterson Companies, Inc. (PDCO), and 4 more

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

Mairs & Power Growth Fund Activity

Date	Symbol	Name	Type	Quantity	Value	Remaining
Q2 2025Jun 30, 2025	G0250X107 Amcor	Amcor	Sell	-10,533-8.9%	$988.45K	107,557
Q2 2025Jun 30, 2025	BP BP p.l.c.	BP p.l.c.	Sell - Position Exit	-10,540-100.0%	$0.00	-
Q2 2025Jun 30, 2025	SHW Sherwin-Williams Company (The)	Sherwin-Williams Company (The)	Sell	-10,718-2.3%	$158.16M	460,613
Q2 2025Jun 30, 2025	DOW Dow Inc.	Dow Inc.	Sell - Position Exit	-10,801-100.0%	$0.00	-
Q2 2025Jun 30, 2025	KNF Knife Riv Holding Co.	Knife Riv Holding Co.	Sell	-13,104-10.3%	$9.30M	113,916
Q2 2025Jun 30, 2025	WTFC Wintrust Financial Corporation	Wintrust Financial Corporation	Sell	-14,695-22.5%	$6.28M	50,680
Q2 2025Jun 30, 2025	VZ Verizon Communications Inc.	Verizon Communications Inc.	Sell	-14,935-0.4%	$147.72M	3,413,917
Q2 2025Jun 30, 2025	BKH Black Hills Corporation	Black Hills Corporation	Sell	-15,552-12.4%	$6.14M	109,398
Q2 2025Jun 30, 2025	HON Honeywell International Inc.	Honeywell International Inc.	Sell	-15,754-5.1%	$68.28M	293,197
Q2 2025Jun 30, 2025	QCOM QUALCOMM Incorporated	QUALCOMM Incorporated	Sell	-15,761-1.7%	$148.77M	934,161
Q2 2025Jun 30, 2025	CFR Cullen/Frost Bankers, Inc.	Cullen/Frost Bankers, Inc.	Sell	-16,492-27.5%	$5.58M	43,428
Q2 2025Jun 30, 2025	LFUS Littelfuse, Inc.	Littelfuse, Inc.	Sell	-16,963-1.9%	$196.45M	866,464
Q2 2025Jun 30, 2025	CASY Caseys General Stores, Inc.	Caseys General Stores, Inc.	Sell	-20,570-15.3%	$58.13M	113,916
Q2 2025Jun 30, 2025	NWE NorthWestern Energy Group, Inc.	NorthWestern Energy Group, Inc.	Sell	-20,957-16.9%	$5.28M	102,928
Q2 2025Jun 30, 2025	GNRC Generac Holdlings Inc.	Generac Holdlings Inc.	Sell	-21,780-14.2%	$18.85M	131,617
Q2 2025Jun 30, 2025	AIR AAR Corp.	AAR Corp.	Sell	-23,956-13.3%	$10.74M	156,076
Q2 2025Jun 30, 2025	V Visa Inc.	Visa Inc.	Sell	-29,117-3.5%	$282.26M	794,996
Q2 2025Jun 30, 2025	GBCI Glacier Bancorp, Inc.	Glacier Bancorp, Inc.	Sell	-29,834-23.2%	$4.26M	98,971
Q2 2025Jun 30, 2025	ASB Associated Banc-Corp	Associated Banc-Corp	Sell	-35,781-10.7%	$7.27M	297,935
Q2 2025Jun 30, 2025	HRL Hormel Foods Corporation	Hormel Foods Corporation	Sell	-51,390-1.2%	$127.67M	4,220,403
Q2 2025Jun 30, 2025	SYY Sysco Corporation	Sysco Corporation	Sell	-62,604-19.0%	$20.16M	266,137
Q2 2025Jun 30, 2025	ULTA Ulta Beauty, Inc.	Ulta Beauty, Inc.	Sell	-67,592-93.7%	$2.13M	4,556
Q2 2025Jun 30, 2025	TNC Tennant Company	Tennant Company	Sell	-68,752-4.8%	$104.80M	1,352,658
Q2 2025Jun 30, 2025	MDT Medtronic	Medtronic	Sell	-82,893-15.4%	$39.69M	455,290
Q2 2025Jun 30, 2025	CLFD Clearfield, Inc.	Clearfield, Inc.	Sell	-89,986-10.6%	$33.09M	762,234
Q2 2025Jun 30, 2025	ONB Old National Bancorp	Old National Bancorp	Sell	-106,441-12.6%	$15.79M	740,125
Q2 2025Jun 30, 2025	ABT Abbott Laboratories	Abbott Laboratories	Sell	-115,047-11.3%	$122.67M	901,941
Q2 2025Jun 30, 2025	TGT Target Corporation	Target Corporation	Sell	-121,426-28.7%	$29.76M	301,699
Q2 2025Jun 30, 2025	JPM JP Morgan Chase & Co.	JP Morgan Chase & Co.	Sell	-161,804-9.7%	$435.15M	1,500,966
Q2 2025Jun 30, 2025	SCHW Charles Schwab Corporation (The	Charles Schwab Corporation (The	Sell	-169,920-33.5%	$30.77M	337,277

Page 7 of 259 • 7760 total trades

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