Insight into Mairs and Power’s latest 13F filings and strategic stock moves (Trades, Portfolio)
Mairs and Power (Trades, Portfolio), a renowned Minnesota-based investment firm, recently released its 13F filings for the second quarter of 2024. Known for managing three mutual funds – the Growth Fund, the Balanced Fund and the Small-Cap Fund – the firm adheres to a focused long-term investment process established since 1931. Mairs and Power’s (Trades, Portfolio) investment philosophy focuses on selecting companies that demonstrate consistent, above-average growth, robust return on capital and sustainable competitive advantages. Their low-turnover strategy emphasizes long-term gains over short-term volatility and focuses on less efficient market segments to maximize investor returns.
New additions to the portfolio
Mairs and Power (Trades, Portfolio) added six new stocks to its portfolio in the second quarter of 2024. Notable new acquisitions include:
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The S&P MidCap 400 ETF (MDY) buys 985 shares valued at approximately $527,050.
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GE Vernova Inc (NYSE:GEV) with 1,942 shares, representing a total investment of around $333,070.
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HP Inc (NYSE:HPQ) acquired 5,814 shares totaling approximately $203,610.
Significant increases in existing positions
During the same period, Mairs and Power (Trades, Portfolio) increased its holdings in 53 stocks. The main increases include:
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Apple Inc (NASDAQ:AAPL), where an additional 347,651 shares were purchased, bringing the total to 1,303,200 shares. This adjustment represents a significant increase in the number of shares by 36.38% and an impact of 0.71% on the current portfolio with a total value of $274,480,020.
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Alliant Energy Corp (NASDAQ:LNT) with an additional 510,031 shares, bringing the total to 3,831,399 shares. This represents a 15.36% increase in share count valued at $195,018,210.
Positions completely abandoned
Mairs and Power (Trades, Portfolio) has also decided to fully divest from eleven holdings in the second quarter of 2024, including:
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Marcus Corp (NYSE:MCS) sold all 169,856 shares, impacting the portfolio by -0.02%.
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iShares Russell Mid-Cap ETF (IWR) – Liquidated all 2,385 stocks with negligible impact on the portfolio.
Reduction of important investments
The company reduced its positions in 116 stocks. Significant reductions were made in:
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Alphabet Inc (NASDAQ:GOOG) saw a decline of 389,741 shares, resulting in a reduction of -12.16% and a portfolio impact of -0.58%. The stock traded at an average price of $170.1 during the quarter.
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Ecolab Inc (NYSE:ECL) decreased its holdings by 157,173 shares, representing a decrease of -15.85% and an impact of -0.35% to the portfolio. The average trading price of the stock during the quarter was $231.07.
Portfolio overview and sector allocation
As of Q2 2024, Mairs and Power’s (Trades, Portfolio) portfolio included 222 stocks. The largest holdings included 8.45% in Microsoft Corp (NASDAQ:MSFT), 7.38% in NVIDIA Corp (NASDAQ:NVDA), 4.99% in Alphabet Inc (NASDAQ:GOOG), 4.39% in Amazon.com Inc (NASDAQ:AMZN), and 4.16% in UnitedHealth Group Inc (NYSE:UNH). Investments are predominantly concentrated in 11 industries, with significant holdings in the technology, industrials, and healthcare sectors.
This article created by GuruFocus is intended to provide general insights and does not constitute tailored financial advice. Our commentary is based on historical data and analyst forecasts, uses an unbiased methodology and is not intended to serve as specific investment advice. It does not contain a recommendation to buy or sell any stock and does not take into account any individual investment objectives or financial circumstances. Our goal is to provide long-term, fundamental, data-driven analysis. Note that our analysis may not include the most recent, price-sensitive company announcements or qualitative information. GuruFocus does not hold a position in any stocks mentioned here.
This article first appeared on GuruFocus.
