Bill Frels

Last Update: 2014-11-14

Number of Stocks: 193
Number of New Stocks: 7

Total Value: $6,853 Mil
Q/Q Turnover: 2%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

Bill Frels' s Profile & Performance

Profile

Mairs and Power Inc is a small firm whose strength and success has resulted from applying a conservative growth investment approach consistently for over 70 years. Both the Growth and Balanced Funds are built on a foundation of selected quality growth stocks purchased at what management considers to be reasonable valuation levels. When these securities are purchased, the intention is to hold these issues for relatively long periods of time to maximize tax-efficiency and allow the power of compounding to build wealth for its shareholders. However, sales are made on occasion in response to such factors as changing fundamentals, investment strategy shifts, and excessive valuation.

Bill Frels is the portfolio manager at Mairs & Power, the investment advisory firm where he started in 1992. Frels plans to retire at the end of 2014, but will remain as the chairman of the investment committee and a shareholder.

Web Page:http://www.mairsandpower.com/

Investing Philosophy

Mairs & Powers follows a consistent and conservative investment approach. Mutual funds and individual accounts are built on quality growth stocks and fixed income securities. Equity securities are held for relatively long periods of time to maximize tax efficiency. Fixed income securities are held to maturity.

Total Holding History

Performance of Mairs & Power Growth Fund

YearReturn (%)S&P500 (%)Excess Gain (%)
201335.6431.554.1
201221.9115.46.5
20110.742.08-1.3
3-Year Cumulative66.6 (18.5%/year)55 (15.7%/year)11.6 (2.8%/year)
201017.415.062.3
200922.5226.46-3.9
5-Year Cumulative139.6 (19.1%/year)125.5 (17.7%/year)14.1 (1.4%/year)
2008-28.51-378.5
20074.95.61-0.7
200610.2415.79-5.6
20054.374.91-0.5
200417.99126.0
10-Year Cumulative143.9 (9.3%/year)104.1 (7.4%/year)39.8 (1.9%/year)
200326.3328.7-2.4
2002-8.12-22.114.0
20016.48-11.918.4
200026.48-9.135.6
19997.1621-13.8
15-Year Cumulative308.6 (9.8%/year)98.3 (4.7%/year)210.3 (5.1%/year)
19989.3628.6-19.2
199728.6633.4-4.7
199627.76234.8
199547.737.610.1
19945.661.34.4
20-Year Cumulative1046.4 (13%/year)483.2 (9.2%/year)563.2 (3.8%/year)
199312.8310.12.7
19927.877.60.3
199142.0530.511.5
19903.63-3.16.7
198928.0631.7-3.6
25-Year Cumulative2530.2 (14%/year)1050.7 (10.3%/year)1479.5 (3.7%/year)
198810.0316.6-6.6
1987-2.335.1-7.4
198611.5418.6-7.1
198534.7731.63.2
1984-2.026.1-8.1
30-Year Cumulative4063.2 (13.2%/year)2235.1 (11.1%/year)1828.1 (2.1%/year)
198315.7622.4-6.6
198239.1621.417.8
1981-3.86-51.1
198016.2732.3-16.0

Top Ranked Articles

Mairs and Power Balanced Fund Third Quarter Commentary: HSY, GM, TGT, IR, BMY
The Balanced Fund produced a disappointing investment return of -10.2% in the third quarter. This result was better than -13.9% for the benchmark Standard & Poor's 500 Index and -11.5% for the Dow Jones Industrial Average but worse than Mairs and Power Composite Index of - 6.7%. The Barclays Capital Government/Credit Bond Index was up 4.7% in the third quarter. Mairs and Power Balanced Fund lightly lagged balanced mutual funds reported by Lipper, which turned in an average return -9.6% in the third quarter. On a year-to-date basis, the fund delivered a return of -5.1% which is better than -8.7% of the S&P 500 but worse than 3.9% for the Dow Jones Industrial average. The Barclays Capital Government/Credit Bond Index was up 7.5% and the Mairs and Power Composite Index was down -2.3% on a year-to-date basis. Read more...
What are Gurus Doing with Target (TGT)?
Target (TGT) is just above 52-week lows and has been on a slide since early January. At the end of 2010 shares traded at $60. Since then Target stocks have given nothing but pain. Bill Ackman, who holds very focused positions, continues to hold a large position in the retailer. In addition to him, 20 other gurus hold positions of varying sizes. Read more...
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. Read more...
Mairs & Power Funds Buys Western Union, Norfolk Southern, Baxter International, Sells Adobe Systems Inc., Integrys Energy Group, Nokia Corp.
This is the Q2 portfolio update of Mairs & Power Funds. Mairs & Power Growth Fund is run by the firm’s CIO Bill Frels. Over the past 10 years, the fund averaged 5.93% a year, while the market is negative. The Fund gained 7.9% versus 5.4% for the S&P 500 index in the first quarter. Read more...
Mairs & Power Funds Buys Hormel Buys HRL, MDT, PG, DIS, WAG, NVEC, IWR, SCHB, Sells SSYS, SRDX, ADP, JCI
Bill Frels at Mairs & Power Inc. reported his fourth quarter portfolio. As of 12/31/2010, Mairs & Power Inc. owns 135 stocks with a total value of $3.5 billion. These are the details of the buys and sells. Read more...
» More Bill Frels Articles

Commentaries and Stories

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Texas Instruments Continues Trading at its 52-Week High
In this article, let's take a look at the intrinsic value of Texas Instruments Inc. (TXN), a $54.54 billion market cap company that is one of the world's largest manufacturers of semiconductors. It also produces scientific calculator products and DLP products for TVs and video projectors. More...

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MTS Systems: Small Cap with Income and Big Prospects Bill Frels,Charlie Munger - MTS Systems: Small Cap With Income And Big Prospects
In theory, it’s great to talk about emulating the legendary Warren Buffett (Trades, Portfolio) and Charlie Munger (Trades, Portfolio), of Berkshire Hathaway (BRK.A) (BRK.B) fame. But, how do you do that in practice? More...

ENGINEERING, TECHNOLOGY, SCIENTIFIC & TECHNICAL INSTRUMENTS, LONG, MTS Systems


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Betting on a Stock While Digital Payment is Growing
In this article, let's take a look at Visa Inc. (V), a $133.03 billion market cap company, which is the world's largest retail electronic payments network and leading payments brand, providing services to consumers, businesses and governments globally. More...

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Boeing Has Higher Production Rates
In this article, let's take a look at The Boeing Company (BA), a $87.15 billion market cap company, which is the largest aircraft manufacturer in the world, and one of the largest aerospace and defense giant that conducts business through three operating segments. More...

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Mairs & Power Small Cap Fund Comments on Cardiovascular Systems
During the quarter, the Fund added medical device maker Cardiovascular Systems (CSII), one of the few remaining small public medical device companies based in the Twin Cities. The company has a strong position in treating peripheral arterial disease with its proprietary atherectomy equipment. A recent approval in significantly calcified coronary arteries opens up a substantial new market opportunity that the company is working hard to commercialize. More...

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Mairs & Power Small Cap Fund Comments on Chart Industries
Chart Industries (GTLS), which manufactures compressed and liquid natural gas tanks and heat exchangers, has detracted from performance during the third quarter as well as on a year-to-date basis. Longer term, the demand for Chart’s natural gas equipment should increase as significant new natural gas discoveries in the U.S. and overseas will likely keep prices in check relative to oil and diesel alternatives. In the short term, though, the market and infrastructure for these natural gas devices has been slower to develop in the U.S. than hoped. The company’s China-based operations have slowed significantly in keeping with that country’s current economic stumbles. More...

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Mairs & Power Small Cap Fund Comments on Apogee
Apogee (APOG), a commercial glass plating and framing company, has been another strong contributor to performance this year. Currently, Apogee looks ready to benefit from increased demand for commercial construction thanks to a more positive employment outlook and reduced interest in off-shoring American jobs. More...

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Mairs & Power Small Cap Fund Comments on Vasco Data Security
Vasco Data Security (VDSI), a password authentication hardware and software company, continued to lead performance in the quarter and for the year. Through vigorous promotion of its competitive line of data security products, Vasco is making significant headway into the U.S. market. Well publicized data breaches at a growing list of major U.S. corporations is apparently driving consumers to seek out firms like Vasco in their urgency to find better protection for their private data. More...

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Mairs & Power Small Cap Fund Q3 2014 Commentary
With ISIS on the march, the Eurozone’s fits and starts and a potential U.S. confrontation with Russia in the air, third quarter performance could have been expected to take a time-out from this year’s domestic advances. Instead, the Standard & Poor’s Total Return Index rose 1.13% for the third quarter gaining 8.34% year-to-date. Then, defying the consensus of market analysts who thought rates would go up and bond prices would decline, the Barclay’s Government/Credit Index also delivered a slight gain of 0.17% for the period with a 4.12% advance year-to-date. More...

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Bill Frels Comments on Medtronic Inc
Healthcare company Medtronic, Inc. (MDT) detracted slightly from performance during the period. Pending a shareholder vote later this year or in 2015, Medtronic is expected to merge with medical device supplier Covidien Plc and change its legal domicile to Ireland. Your Growth Fund portfolio managers are pleased to report that we have completed our valuation for Medtronic. As of October 7, 2014 we believe combined Medtronic/Covidien to be $8 per share more valuable than shares of Medtronic alone. More...

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Bill Frels Comments on Wells Fargo
Another strong contributor to performance was Wells Fargo (WFC). Having weathered the financial crisis of 2008-2009 better than most, Wells Fargo has emerged as the go-to bank for depositors in search of a safe haven. With its consumer-friendly reputation, as well as a knack for achieving significant loan and deposit growth, Wells Fargo has been able to leverage its positive brand profile to attract new customers. More...

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Bill Frels Comments on Target
Retailer Target (TGT) experienced a positive news cycle during the third quarter due to the public enthusiasm surrounding its new CEO, Brian Cornell, who has taken the high road in announcing positive changes concerning transparency and corporate accountability. While still underperforming as of the third quarter, Target seems set to advance, and indeed the stock was already rallying later in the quarter. More...

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Bill Frels Comments on Johnson & Johnson
Due to the expansion of its pharmaceutical business, Johnson & Johnson (JNJ) contributed better-than- expected performance during the period. Sales soared by 21% due to almost a dozen recent drug launches and improving profitability, which may support a robust acquisition strategy that could reportedly beat management’s goal of 4.5% growth in annual drug sales through 2017. More...

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Bill Frels' Mairs & Power Growth Fund Q3 2014 Commentary
With ISIS on the march, the Eurozone’s fits and starts and a potential U.S. confrontation with Russia in the air, third quarter performance could have been expected to take a time-out from this year’s domestic advances. Instead, the Standard & Poor’s Total Return Index rose 1.13% for the third quarter gaining 8.34% year-to-date. Then, defying the consensus of market analysts who thought rates would go up and bond prices would decline, the Barclay’s Government/Credit Index also delivered a slight gain of 0.17% for the period with a 4.12% advance year-to-date. More...

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Mairs & Power Balanced Fund Comments on Donaldson Co Inc
A case in point is portfolio holding Donaldson & Co., Inc. (DCI), one of the leading international manufacturers of high-tech filtration solutions for engines. For the past century, despite interest- rate shocks, stock market corrections and world wars, Donaldson has prospered and grown. Faced with a global slowdown in construction projects, Donaldson’s sales growth slowed and its stock price declined – while earnings held their ground and even increased slightly. To Mairs & Power, nothing fundamental changed for Donaldson. Our assessment of the firm’s long-term growth prospects is still supported by the quantitative data and our qualitative findings that matter most in our selection process. Rather, the impact of short-term, negative market perceptions on consistently growing companies like Donaldson offers us an incentive to add to a position we already like at an attractive price. More...

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Mairs & Power Balanced Fund Comments on Graco Inc
In the industrials camp, Graco (GGG) was among the portfolio’s below-average performers – even though it managed to deliver above-average growth for the year. Supplying technology and expertise for the management of fluids in both industrial and commercial settings, Graco has a global client base grounded in manufacturing, construction and maintenance. With a stock price that appeared overvalued in 2013, the company now looks much more attractive after the market knocked out some of its excess in the recent period. Despite trimming it somewhat last quarter, Graco still represents a substantial holding for the Fund. More...

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Bill Frels' Mairs & Power Q3 Portfolio Commentary
With ISIS on the march, the Eurozone’s fits and starts and a potential U.S. confrontation with Russia in the air, third quarter performance could have been expected to take a time-out from this year’s domestic advances. Instead, the Standard & Poor’s Total Return Index rose 1.13% for the third quarter gaining 8.34% year-to-date. Then, defying the consensus of market analysts who thought rates would go up and bond prices would decline, the Barclay’s Government/Credit Index also delivered a slight gain of 0.17% for the period with a 4.12% advance year-to-date. More...

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What is Abner Herrman Investing In?
Over the past few days, hedge funds have been filing their form 13-F, which is a quarterly report of equity holdings by institutional investment managers with at least $100 million in equity assets under management, as required by the United States Securities and Exchange Commission (SEC). In this article, let´s concentrate in one particular hedge fund and try to see the principal holdings in its portfolio. I will look into Abner Herrman & Brock LLC, which provides portfolio management for high net worth individuals, endowments, and corporate retirement plans. More...

Abner Herrman, Hedge funds


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Why Don´t You Provide Energy to your Portfolio
In this article, let's take a look at Xcel Energy Inc. (XEL), a $15.47 billion market cap company, which is a company that offers energy-related products and services to 3.4 million electricity customers and 1.9 million natural gas customers in eight western and midwestern states. More...

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Why Bill Frels Is Long in Bemis
In this article, let's take a look at Bemis Co Inc. (BMS), a $3.94 billion market cap company, which is a leading maker of a broad range of flexible packaging and pressure-sensitive materials. More...

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