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Mairs & Power Funds Report Q1 Portfolio

Mairs & Power was founded by Bill Frels. The funds invest in growth companies at reasonable prices. They look for high quality companies characterized by earnings that are reasonably predictable; return on equity that is above average; market dominance; and financial strength. Some emphasis is placed on small to medium sized companies, generally located in the upper Midwest region.

For the last three years, the Mairs and Power Growth Fund has had annual turnover of less than 5%. That implies a 20-year holding period. As of March 31, 2011, Mairs & Power Inc. owns 132 stocks with a total value of $3.7 billion. These are the details of the buys and sells.

Bill Frels buys Fastenal Company, Target Corp., Walt Disney Company, Principal Financial Group Inc., Procter & Gamble Company, Abbott Laboratories, NVE Corp., Badger Meter Inc., Altria Group Inc., Woodward Inc., Qwest Communications Intl Inc., sells Hormel Foods Corp., Stratasys Inc., Amgen Inc., E.i. Du Pont De Nemours And Co., Walgreen Co., Vanguard Msci Emerging Markets Etf, Sei Investments Company, Royal Dutch Shell Plc, Pepsico Inc., Briggs & Stratton Corp., Ameriprise Financial Inc., Woodward Governor Company during the 3-months ended 03/31/2011, according to the most recent filings of his investment company, Mairs & Power Inc.

This is the portfolio chart of Bill Frels. You can click on the legend of the chart to show/hide buys, sells, or holdings. Each ball on the chart represents a position in the portfolio. You can move your mouse on the balls to see the details of each position and click to see the details of all guru trades with this position.



For the details of Bill Frels's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Bill+Frels

This is the sector weightings of his portfolio:

Industrials 40.1%
Health Care 17.7%
Financials 12%
Basic Materials 9.9%
Consumer Goods 6.2%
Consumer Services 5.7%
Oil & Gas 4%
Technology 3.5%
Utilities 0.3%
Telecommunications 0.3%


These are the top 5 holdings of Bill Frels

  1. 3M COMPANY (MMM) - 2,027,509 shares, 5.15% of the total portfolio. Shares added by 0.23%
  2. EMERSON (EMR) - 2,554,231 shares, 4.05% of the total portfolio. Shares reduced by 2.05%
  3. HONEYWELL INTERNATIONAL (HON) - 2,427,984 shares, 3.94% of the total portfolio. Shares reduced by 0.9%
  4. GRACO INC (GGG) - 3,168,733 shares, 3.91% of the total portfolio. Shares reduced by 1.06%
  5. MEDTRONIC INC. (MDT) - 3,611,792 shares, 3.86% of the total portfolio. Shares added by 0.8%


Added: Fastenal Company (FAST)

Bill Frels added to his holdings in Fastenal Company by 98.71%. His purchase prices were between $28.88 and $32.245, with an estimated average price of $30.55. The impact to his portfolio due to this purchase was 0.59%. His holdings were 671,657 shares as of 03/31/2011.

Fastenal Company sells industrial and construction supplies grouped into eleven product lines. Fastenal Company has a market cap of $9.78 billion; its shares were traded at around $66.34 with a P/E ratio of 32.2 and P/S ratio of 4.3. The dividend yield of Fastenal Company stocks is 0.8%. Fastenal Company had an annual average earnings growth of 18% over the past 10 years. GuruFocus rated Fastenal Company the business predictability rank of 3.5-star.

Added: Target Corp. (TGT)

Bill Frels added to his holdings in Target Corp. by 5.65%. His purchase prices were between $49.16 and $60.77, with an estimated average price of $53.44. The impact to his portfolio due to this purchase was 0.19%. His holdings were 2,606,047 shares as of 03/31/2011.

Target Corporation operates large-format general merchandise and food discount stores in the United States, which include Target and SuperTarget stores. Target Corp. has a market cap of $34.63 billion; its shares were traded at around $49.96 with a P/E ratio of 12.5 and P/S ratio of 0.5. The dividend yield of Target Corp. stocks is 2%. Target Corp. had an annual average earnings growth of 9.2% over the past 10 years. GuruFocus rated Target Corp. the business predictability rank of 5-star.

Added: Walt Disney Company (DIS)

Bill Frels added to his holdings in Walt Disney Company by 71.51%. His purchase prices were between $37.51 and $44.07, with an estimated average price of $41.35. The impact to his portfolio due to this purchase was 0.15%. His holdings were 308,863 shares as of 03/31/2011.

Walt Disney Company owns 100% of Disney Enterprises, Inc. Walt Disney Company has a market cap of $78.66 billion; its shares were traded at around $41.42 with a P/E ratio of 18.1 and P/S ratio of 2. The dividend yield of Walt Disney Company stocks is 1%. Walt Disney Company had an annual average earnings growth of 12.5% over the past 10 years. GuruFocus rated Walt Disney Company the business predictability rank of 3.5-star.

Added: Principal Financial Group Inc. (PFG)

Bill Frels added to his holdings in Principal Financial Group Inc. by 8.47%. His purchase prices were between $30.72 and $34.69, with an estimated average price of $32.76. The impact to his portfolio due to this purchase was 0.14%. His holdings were 2,003,288 shares as of 03/31/2011.

The Principal Financial Group is a provider of retirement savings, investment and insurance products and services. Principal Financial Group Inc. has a market cap of $10.19 billion; its shares were traded at around $31.75 with a P/E ratio of 11.8 and P/S ratio of 1.2. The dividend yield of Principal Financial Group Inc. stocks is 1.8%. Principal Financial Group Inc. had an annual average earnings growth of 2.5% over the past 10 years.

Added: Procter & Gamble Company (PG)

Bill Frels added to his holdings in Procter & Gamble Company by 89.81%. His purchase prices were between $59.73 and $66.7, with an estimated average price of $63.31. The impact to his portfolio due to this purchase was 0.12%. His holdings were 156,075 shares as of 03/31/2011.

The Procter & Gamble Company manufactures and markets a broad range of consumer products in many countries throughout the world. Procter & Gamble Company has a market cap of $188.72 billion; its shares were traded at around $67.38 with a P/E ratio of 17.6 and P/S ratio of 2.4. The dividend yield of Procter & Gamble Company stocks is 3.1%. Procter & Gamble Company had an annual average earnings growth of 12.3% over the past 10 years. GuruFocus rated Procter & Gamble Company the business predictability rank of 3.5-star.

Added: Abbott Laboratories (ABT)

Bill Frels added to his holdings in Abbott Laboratories by 66.95%. His purchase prices were between $45.16 and $49.07, with an estimated average price of $47.35. The impact to his portfolio due to this purchase was 0.11%. His holdings were 207,965 shares as of 03/31/2011.

Abbott Laboratories is a global, broad-based health care company devoted to discovering new medicines, new technologies and new ways to manage health. Abbott Laboratories has a market cap of $83.29 billion; its shares were traded at around $53.82 with a P/E ratio of 12.6 and P/S ratio of 2.4. The dividend yield of Abbott Laboratories stocks is 3.6%. Abbott Laboratories had an annual average earnings growth of 7.8% over the past 10 years. GuruFocus rated Abbott Laboratories the business predictability rank of 5-star.

Added: Nve Corp. (NVEC)

Bill Frels added to his holdings in Nve Corp. by 215.82%. His purchase prices were between $52.47 and $62.06, with an estimated average price of $57.74. The impact to his portfolio due to this purchase was 0.09%. His holdings were 83,155 shares as of 03/31/2011.

NVE Corp. is a recognized leader in the practical commercialization of `spintronics`, which many experts believe represents the next generation of microelectronics. Nve Corp. has a market cap of $285.8 million; its shares were traded at around $59.98 with a P/E ratio of 21.7 and P/S ratio of 9.2. Nve Corp. had an annual average earnings growth of 65.4% over the past 5 years.

Added: Badger Meter Inc. (BMI)

Bill Frels added to his holdings in Badger Meter Inc. by 21.21%. His purchase prices were between $36.85 and $45.19, with an estimated average price of $40.17. The impact to his portfolio due to this purchase was 0.08%. His holdings were 412,584 shares as of 03/31/2011.

Badger Meter, Inc. is a marketer and manufacturer of products, and a provider of services, using flow measurement and control technologies serving markets worldwide. Badger Meter Inc. has a market cap of $542.6 million; its shares were traded at around $36.05 with a P/E ratio of 20.4 and P/S ratio of 2. The dividend yield of Badger Meter Inc. stocks is 1.6%. Badger Meter Inc. had an annual average earnings growth of 44.8% over the past 10 years. GuruFocus rated Badger Meter Inc. the business predictability rank of 3.5-star.

New Purchase: Woodward Inc. (WWD)

Bill Frels initiated holdings in Woodward Inc.. His purchase prices were between $31.12 and $35.855, with an estimated average price of $33.33. The impact to his portfolio due to this purchase was 0.01%. His holdings were 10,000 shares as of 03/31/2011.

Woodward Inc. operates as a designer, manufacturer, and service provider of energy control and optimization solutions used in global infrastructure equipment serving the aerospace, power generation and distribution, and transportation markets. Woodward Inc. has a market cap of $2.42 billion; its shares were traded at around $35.21 with a P/E ratio of 21.9 and P/S ratio of 1.7. The dividend yield of Woodward Inc. stocks is 0.8%. Woodward Inc. had an annual average earnings growth of 15.9% over the past 10 years.

New Purchase: Altria Group Inc. (MO)

Bill Frels initiated holdings in Altria Group Inc.. His purchase prices were between $23.51 and $26.11, with an estimated average price of $24.68. The impact to his portfolio due to this purchase was 0.01%. His holdings were 8,010 shares as of 03/31/2011.

Altria Group is the parent company of Philip Morris USA, U. Altria Group Inc. has a market cap of $58.3 billion; its shares were traded at around $27.87 with a P/E ratio of 14.5 and P/S ratio of 2.4. The dividend yield of Altria Group Inc. stocks is 5.5%.

Reduced: Hormel Foods Corp. (HRL)

Bill Frels reduced to his holdings in Hormel Foods Corp. by 50.28%. His sale prices were between $24.68 and $28.1, with an estimated average price of $26.29. The impact to his portfolio due to this sale was -2.86%. Bill Frels still held 3,740,590 shares as of 03/31/2011.

Hormel Foods Corporation is a multinational manufacturer and marketer of consumer-branded meat and food products, many of which are among the best known and trusted in the food industry. Hormel Foods Corp. has a market cap of $8.04 billion; its shares were traded at around $30.09 with a P/E ratio of 18.2 and P/S ratio of 1.1. The dividend yield of Hormel Foods Corp. stocks is 1.7%. Hormel Foods Corp. had an annual average earnings growth of 9.2% over the past 10 years. GuruFocus rated Hormel Foods Corp. the business predictability rank of 5-star.

Reduced: Stratasys Inc. (SSYS)

Bill Frels reduced to his holdings in Stratasys Inc. by 60.11%. His sale prices were between $32.5 and $49.59, with an estimated average price of $40.68. The impact to his portfolio due to this sale was -0.32%. Bill Frels still held 166,934 shares as of 03/31/2011.

STRATASYS, INC. develops, manufactures and markets a family of rapid prototyping devices that enable engineers and designers to create physical models, tooling and prototypes out of plastic and other materials directly from computer aided design workstations. Stratasys Inc. has a market cap of $833.2 million; its shares were traded at around $39.51 with a P/E ratio of 59.9 and P/S ratio of 7. Stratasys Inc. had an annual average earnings growth of 28.1% over the past 10 years.

Reduced: Amgen Inc. (AMGN)

Bill Frels reduced to his holdings in Amgen Inc. by 39.94%. His sale prices were between $50.95 and $57.31, with an estimated average price of $54.32. The impact to his portfolio due to this sale was -0.02%. Bill Frels still held 20,805 shares as of 03/31/2011.

Amgen Inc. discovers, develops and delivers innovative human therapeutics. Amgen Inc. has a market cap of $57.04 billion; its shares were traded at around $61.17 with a P/E ratio of 11.9 and P/S ratio of 3.8. Amgen Inc. had an annual average earnings growth of 16.4% over the past 10 years. GuruFocus rated Amgen Inc. the business predictability rank of 3-star.

Reduced: E.i. Du Pont De Nemours And Co. (DD)

Bill Frels reduced to his holdings in E.i. Du Pont De Nemours And Co. by 44.67%. His sale prices were between $48.35 and $55.98, with an estimated average price of $52.27. The impact to his portfolio due to this sale was -0.02%. Bill Frels still held 18,700 shares as of 03/31/2011.

E.I. DuPont de Nemours is involved in science and technology in a range of disciplines including high-performance materials, specialty chemicals, pharmaceuticals and biotechnology. E.i. Du Pont De Nemours And Co. has a market cap of $49.37 billion; its shares were traded at around $53.29 with a P/E ratio of 14.8 and P/S ratio of 1.5. The dividend yield of E.i. Du Pont De Nemours And Co. stocks is 3%.

Reduced: Walgreen Co. (WAG)

Bill Frels reduced to his holdings in Walgreen Co. by 24.72%. His sale prices were between $38.96 and $43.34, with an estimated average price of $41.37. The impact to his portfolio due to this sale was -0.01%. Bill Frels still held 19,902 shares as of 03/31/2011.

Walgreen Co. is a national retail pharmacy chain and considered the leader in innovative drugstore retailing. Walgreen Co. has a market cap of $40.45 billion; its shares were traded at around $44.19 with a P/E ratio of 18.7 and P/S ratio of 0.6. The dividend yield of Walgreen Co. stocks is 1.6%. Walgreen Co. had an annual average earnings growth of 11.7% over the past 10 years. GuruFocus rated Walgreen Co. the business predictability rank of 4.5-star.

Reduced: Briggs & Stratton Corp. (BGG)

Bill Frels reduced to his holdings in Briggs & Stratton Corp. by 36.04%. His sale prices were between $19.34 and $22.06, with an estimated average price of $20.37. The impact to his portfolio due to this sale was -0.01%. Bill Frels still held 10,650 shares as of 03/31/2011.

Briggs & Stratton Corp. is one of the world's largest producers of air cooled gasoline engines for outdoor power equipment. Briggs & Stratton Corp. has a market cap of $1.05 billion; its shares were traded at around $20.85 with a P/E ratio of 16.3 and P/S ratio of 0.5. The dividend yield of Briggs & Stratton Corp. stocks is 2.1%.

Reduced: Royal Dutch Shell Plc (RDS.A)

Bill Frels reduced to his holdings in Royal Dutch Shell Plc by 22.43%. His sale prices were between $65.74 and $73.43, with an estimated average price of $69.78. The impact to his portfolio due to this sale was -0.01%. Bill Frels still held 20,746 shares as of 03/31/2011.

Royal Dutch Petroleum Company owns 60% of the Royal Dutch/Shell Group of companies. Royal Dutch Shell Plc has a market cap of $219.22 billion; its shares were traded at around $70.04 with a P/E ratio of 9.9 and P/S ratio of 0.6. The dividend yield of Royal Dutch Shell Plc stocks is 4.1%. Royal Dutch Shell Plc had an annual average earnings growth of 6.3% over the past 10 years. GuruFocus rated Royal Dutch Shell Plc the business predictability rank of 2.5-star.

Reduced: Pepsico Inc. (PEP)

Bill Frels reduced to his holdings in Pepsico Inc. by 27.53%. His sale prices were between $62.31 and $66.91, with an estimated average price of $64.57. The impact to his portfolio due to this sale was -0.01%. Bill Frels still held 15,684 shares as of 03/31/2011.

PepsiCo, Inc. consists of: Frito-Lay Company, Pepsi-Cola Company, and Tropicana Products. Pepsico Inc. has a market cap of $114.06 billion; its shares were traded at around $71.27 with a P/E ratio of 17.3 and P/S ratio of 2. The dividend yield of Pepsico Inc. stocks is 2.7%. Pepsico Inc. had an annual average earnings growth of 8.5% over the past 10 years. GuruFocus rated Pepsico Inc. the business predictability rank of 4.5-star.

Sold Out: Sei Investments Company (SEIC)

Bill Frels sold out his holdings in Sei Investments Company. His sale prices were between $21.97 and $24.74, with an estimated average price of $23.28.

SEI Investments is a global provider of asset management and investment technology solutions. Sei Investments Company has a market cap of $4.33 billion; its shares were traded at around $23.26 with a P/E ratio of 19.1 and P/S ratio of 4.8. The dividend yield of Sei Investments Company stocks is 0.9%. Sei Investments Company had an annual average earnings growth of 13.1% over the past 10 years. GuruFocus rated Sei Investments Company the business predictability rank of 2.5-star.

Sold Out: Vanguard Msci Emerging Markets Etf (VWO)

Bill Frels sold out his holdings in Vanguard Msci Emerging Markets Etf. His sale prices were between $44.985 and $48.88, with an estimated average price of $47.05.

Vanguard Msci Emerging Markets Etf has a market cap of $45.95 billion; its shares were traded at around $48.32 . The dividend yield of Vanguard Msci Emerging Markets Etf stocks is 1.7%.

Sold Out: Ameriprise Financial Inc. (AMP)

Bill Frels sold out his holdings in Ameriprise Financial Inc.. His sale prices were between $57.55 and $64.73, with an estimated average price of $61.31.

AMERIPRISE FINANCIAL, INC. is a financial planning and services company with financial advisors and registered representatives that provides solutions for clients' asset accumulation, income management and insurance protection needs. Ameriprise Financial Inc. has a market cap of $15.49 billion; its shares were traded at around $62.89 with a P/E ratio of 12.5 and P/S ratio of 1.5. The dividend yield of Ameriprise Financial Inc. stocks is 1.5%.

Sold Out: Woodward Governor Company (WGOV)

Bill Frels sold out his holdings in Woodward Governor Company. His sale prices were between $33.51 and $38.66, with an estimated average price of $36.32.

Woodward Governor Company provides innovative engine controls and fuel delivery systems designed for a wide variety of applications. with a P/E ratio of 23.4. The dividend yield of Woodward Governor Company stocks is 0.6%.


Rating: 2.9/5 (9 votes)

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