Historical Stock Holdings

Mairs & Power Growth Fund

PeriodPortfolio ValueTop 20 holdings history (left to right)
2024   Q1$5.46 B MSFT
Microsoft Corp.
10.14% of portfolio
 		NVDA
NVIDIA Corp.
6.06% of portfolio
 		AMZN
Amazon.com Inc.
5.73% of portfolio
 		UNH
United Health Group Inc.
4.76% of portfolio
 		JPM
JPMorgan Chase & Co.
4.64% of portfolio
 		GOOG
Alphabet Inc. CL C
4.59% of portfolio
 		GGG
Graco Inc.
3.50% of portfolio
 		USB
U.S. Bancorp
2.92% of portfolio
 		FI
Fiserv Inc.
2.90% of portfolio
 		TTC
Toro Co.
2.86% of portfolio
 		MDT
Medtronic plc
2.81% of portfolio
 		VZ
Verizon Communications
2.64% of portfolio
 		QCOM
QUALCOMM Inc.
2.55% of portfolio
 		AAPL
Apple Inc.
2.26% of portfolio
 		LNT
Alliant Energy
2.22% of portfolio
 		LFUS
Littelfuse Inc.
2.10% of portfolio
 		HRL
Hormel Foods Corp.
2.01% of portfolio
 		SHW
Sherwin-Williams
2.01% of portfolio
 		FAST
Fastenal
2.00% of portfolio
 		TECH
Bio-Techne Corp.
1.99% of portfolio
2023   Q4$5.01 B MSFT
Microsoft Corp.
9.88% of portfolio
 		UNH
United Health Group Inc.
5.52% of portfolio
 		AMZN
Amazon.com Inc.
5.29% of portfolio
 		GOOG
Alphabet Inc. CL C
4.81% of portfolio
 		JPM
JPMorgan Chase & Co.
4.29% of portfolio
 		NVDA
NVIDIA Corp.
4.04% of portfolio
 		GGG
Graco Inc.
3.78% of portfolio
 		TTC
Toro Co.
3.27% of portfolio
 		USB
U.S. Bancorp
3.08% of portfolio
 		MDT
Medtronic plc
2.90% of portfolio
 		FI
Fiserv Inc.
2.63% of portfolio
 		QCOM
QUALCOMM Inc.
2.59% of portfolio
 		LFUS
Littelfuse Inc.
2.53% of portfolio
 		TECH
Bio-Techne Corp.
2.50% of portfolio
 		LNT
Alliant Energy
2.46% of portfolio
 		FAST
Fastenal
2.43% of portfolio
 		ECL
Ecolab Inc.
2.26% of portfolio
 		VZ
Verizon Communications
2.22% of portfolio
 		SHW
Sherwin-Williams
2.03% of portfolio
 		HRL
Hormel Foods Corp.
2.01% of portfolio
2023   Q3$4.49 B MSFT
Microsoft Corp.
9.70% of portfolio
 		UNH
United Health Group Inc.
5.89% of portfolio
 		AMZN
Amazon.com Inc.
5.59% of portfolio
 		GOOG
Alphabet Inc. CL C
5.01% of portfolio
 		NVDA
NVIDIA Corp.
4.59% of portfolio
 		JPM
JPMorgan Chase & Co.
3.95% of portfolio
 		GGG
Graco Inc.
3.72% of portfolio
 		TTC
Toro Co.
3.16% of portfolio
 		MDT
Medtronic plc
3.07% of portfolio
 		ECL
Ecolab Inc.
2.74% of portfolio
 		LFUS
Littelfuse Inc.
2.70% of portfolio
 		USB
U.S. Bancorp
2.63% of portfolio
 		LNT
Alliant Energy
2.59% of portfolio
 		HRL
Hormel Foods Corp.
2.58% of portfolio
 		FI
Fiserv Inc.
2.49% of portfolio
 		TECH
Bio-Techne Corp.
2.46% of portfolio
 		FAST
Fastenal
2.32% of portfolio
 		SHW
Sherwin-Williams
2.29% of portfolio
 		NVT
nVent Electric plc
2.28% of portfolio
 		QCOM
QUALCOMM Inc.
2.22% of portfolio
2023   Q2$4.84 B MSFT
Microsoft Corp.
9.81% of portfolio
 		AMZN
Amazon.com Inc.
5.53% of portfolio
 		UNH
United Health Group Inc.
5.11% of portfolio
 		NVDA
NVIDIA Corp.
5.00% of portfolio
 		GOOG
Alphabet Inc. CL C
4.26% of portfolio
 		GGG
Graco Inc.
4.09% of portfolio
 		JPM
JPMorgan Chase & Co.
3.59% of portfolio
 		TTC
Toro Co.
3.30% of portfolio
 		ECL
Ecolab Inc.
3.11% of portfolio
 		LFUS
Littelfuse Inc.
3.01% of portfolio
 		MDT
Medtronic plc
2.95% of portfolio
 		USB
U.S. Bancorp
2.87% of portfolio
 		TECH
Bio-Techne Corp.
2.73% of portfolio
 		FI
Fiserv Inc.
2.58% of portfolio
 		HRL
Hormel Foods Corp.
2.53% of portfolio
 		LNT
Alliant Energy
2.42% of portfolio
 		FAST
Fastenal
2.32% of portfolio
 		JNJ
Johnson & Johnson
2.30% of portfolio
 		SHW
Sherwin-Williams
2.21% of portfolio
 		NVT
nVent Electric plc
2.14% of portfolio
2023   Q1$4.55 B MSFT
Microsoft Corp.
9.33% of portfolio
 		UNH
United Health Group Inc.
5.26% of portfolio
 		GOOG
Alphabet Inc. CL C
4.77% of portfolio
 		AMZN
Amazon.com Inc.
4.76% of portfolio
 		NVDA
NVIDIA Corp.
4.58% of portfolio
 		TTC
Toro Co.
3.80% of portfolio
 		GGG
Graco Inc.
3.68% of portfolio
 		ECL
Ecolab Inc.
3.52% of portfolio
 		USB
U.S. Bancorp
3.22% of portfolio
 		LFUS
Littelfuse Inc.
2.95% of portfolio
 		MDT
Medtronic plc
2.88% of portfolio
 		TECH
Bio-Techne Corp.
2.64% of portfolio
 		HRL
Hormel Foods Corp.
2.61% of portfolio
 		FI
Fiserv Inc.
2.56% of portfolio
 		JPM
JPMorgan Chase & Co.
2.51% of portfolio
 		QCOM
QUALCOMM Inc.
2.41% of portfolio
 		JNJ
Johnson & Johnson
2.29% of portfolio
 		FAST
Fastenal
2.19% of portfolio
 		MSI
Motorola Solutions Inc.
2.08% of portfolio
 		SHW
Sherwin-Williams
2.00% of portfolio
2022   Q4$4.32 B MSFT
Microsoft Corp.
7.80% of portfolio
 		UNH
United Health Group Inc.
6.21% of portfolio
 		GOOG
Alphabet Inc. CL C
4.89% of portfolio
 		TTC
Toro Co.
4.10% of portfolio
 		USB
U.S. Bancorp
3.90% of portfolio
 		AMZN
Amazon.com Inc.
3.80% of portfolio
 		GGG
Graco Inc.
3.57% of portfolio
 		ECL
Ecolab Inc.
3.50% of portfolio
 		NVDA
NVIDIA Corp.
3.31% of portfolio
 		TECH
Bio-Techne Corp.
2.98% of portfolio
 		MDT
Medtronic plc
2.92% of portfolio
 		RHHBY
Roche Holding AG ADR
2.85% of portfolio
 		JNJ
Johnson & Johnson
2.76% of portfolio
 		HRL
Hormel Foods Corp.
2.76% of portfolio
 		LFUS
Littelfuse Inc.
2.55% of portfolio
 		FI
Fiserv Inc.
2.41% of portfolio
 		SHW
Sherwin-Williams
2.22% of portfolio
 		FUL
H.B. Fuller Co.
2.19% of portfolio
 		QCOM
QUALCOMM Inc.
2.18% of portfolio
 		MSI
Motorola Solutions Inc.
2.04% of portfolio
2022   Q3$4.2 B MSFT
Microsoft Corp.
7.74% of portfolio
 		GOOG
Alphabet Inc. CL C
6.25% of portfolio
 		UNH
United Health Group Inc.
6.18% of portfolio
 		AMZN
Amazon.com Inc.
4.65% of portfolio
 		USB
U.S. Bancorp
3.77% of portfolio
 		ECL
Ecolab Inc.
3.57% of portfolio
 		TTC
Toro Co.
3.37% of portfolio
 		GGG
Graco Inc.
3.27% of portfolio
 		MDT
Medtronic plc
3.12% of portfolio
 		RHHBY
Roche Holding AG ADR
3.04% of portfolio
 		HRL
Hormel Foods Corp.
2.83% of portfolio
 		JNJ
Johnson & Johnson
2.68% of portfolio
 		TECH
Bio-Techne Corp.
2.57% of portfolio
 		LFUS
Littelfuse Inc.
2.36% of portfolio
 		FI
Fiserv Inc.
2.30% of portfolio
 		QCOM
QUALCOMM Inc.
2.16% of portfolio
 		NVDA
NVIDIA Corp.
1.99% of portfolio
 		MSI
Motorola Solutions Inc.
1.98% of portfolio
 		FUL
H.B. Fuller Co.
1.98% of portfolio
 		WFC
Wells Fargo
1.98% of portfolio
2022   Q2$4.45 B MSFT
Microsoft Corp.
7.98% of portfolio
 		GOOG
Alphabet Inc. CL C
6.71% of portfolio
 		UNH
United Health Group Inc.
6.24% of portfolio
 		AMZN
Amazon.com Inc.
4.76% of portfolio
 		USB
U.S. Bancorp
4.06% of portfolio
 		ECL
Ecolab Inc.
3.59% of portfolio
 		GGG
Graco Inc.
3.06% of portfolio
 		MDT
Medtronic plc
3.00% of portfolio
 		RHHBY
Roche Holding AG ADR
2.95% of portfolio
 		TECH
Bio-Techne Corp.
2.83% of portfolio
 		TTC
Toro Co.
2.79% of portfolio
 		HRL
Hormel Foods Corp.
2.79% of portfolio
 		JNJ
Johnson & Johnson
2.75% of portfolio
 		LFUS
Littelfuse Inc.
2.74% of portfolio
 		QCOM
QUALCOMM Inc.
2.30% of portfolio
 		MSI
Motorola Solutions Inc.
2.16% of portfolio
 		FI
Fiserv Inc.
2.16% of portfolio
 		NVDA
NVIDIA Corp.
2.12% of portfolio
 		SCHW
Charles Schwab Corp.
2.04% of portfolio
 		SHW
Sherwin-Williams
2.03% of portfolio
2022   Q1$5.4 B MSFT
Microsoft Corp.
8.10% of portfolio
 		GOOG
Alphabet Inc. CL C
7.06% of portfolio
 		AMZN
Amazon.com Inc.
5.75% of portfolio
 		UNH
United Health Group Inc.
5.48% of portfolio
 		USB
U.S. Bancorp
3.91% of portfolio
 		ECL
Ecolab Inc.
3.40% of portfolio
 		MDT
Medtronic plc
3.11% of portfolio
 		NVDA
NVIDIA Corp.
3.01% of portfolio
 		RHHBY
Roche Holding AG ADR
2.95% of portfolio
 		TECH
Bio-Techne Corp.
2.91% of portfolio
 		GGG
Graco Inc.
2.90% of portfolio
 		HRL
Hormel Foods Corp.
2.73% of portfolio
 		JNJ
Johnson & Johnson
2.54% of portfolio
 		TTC
Toro Co.
2.46% of portfolio
 		SCHW
Charles Schwab Corp.
2.25% of portfolio
 		LFUS
Littelfuse Inc.
2.18% of portfolio
 		MSI
Motorola Solutions Inc.
2.17% of portfolio
 		QCOM
QUALCOMM Inc.
2.07% of portfolio
 		FI
Fiserv Inc.
2.03% of portfolio
 		FAST
Fastenal
1.93% of portfolio
2021   Q4$5.92 B MSFT
Microsoft Corp.
7.91% of portfolio
 		GOOG
Alphabet Inc. CL C
6.82% of portfolio
 		AMZN
Amazon.com Inc.
5.25% of portfolio
 		UNH
United Health Group Inc.
5.17% of portfolio
 		ECL
Ecolab Inc.
4.12% of portfolio
 		NVDA
NVIDIA Corp.
3.86% of portfolio
 		USB
U.S. Bancorp
3.77% of portfolio
 		TECH
Bio-Techne Corp.
3.11% of portfolio
 		GGG
Graco Inc.
3.06% of portfolio
 		RHHBY
Roche Holding AG ADR
2.82% of portfolio
 		MDT
Medtronic plc
2.81% of portfolio
 		TTC
Toro Co.
2.63% of portfolio
 		LFUS
Littelfuse Inc.
2.51% of portfolio
 		V
Visa Inc.
2.47% of portfolio
 		SHW
Sherwin-Williams
2.31% of portfolio
 		HRL
Hormel Foods Corp.
2.27% of portfolio
 		JNJ
Johnson & Johnson
2.24% of portfolio
 		MSI
Motorola Solutions Inc.
2.22% of portfolio
 		QCOM
QUALCOMM Inc.
2.08% of portfolio
 		FUL
H.B. Fuller Co.
2.06% of portfolio
2021   Q3$5.44 B MSFT
Microsoft Corp.
7.46% of portfolio
 		GOOG
Alphabet Inc. CL C
6.83% of portfolio
 		AMZN
Amazon.com Inc.
5.39% of portfolio
 		UNH
United Health Group Inc.
4.41% of portfolio
 		USB
U.S. Bancorp
4.10% of portfolio
 		ECL
Ecolab Inc.
3.98% of portfolio
 		MDT
Medtronic plc
3.71% of portfolio
 		NVDA
NVIDIA Corp.
3.57% of portfolio
 		TECH
Bio-Techne Corp.
3.17% of portfolio
 		GGG
Graco Inc.
2.89% of portfolio
 		V
Visa Inc.
2.76% of portfolio
 		RHHBY
Roche Holding AG ADR
2.69% of portfolio
 		TTC
Toro Co.
2.68% of portfolio
 		FI
Fiserv Inc.
2.31% of portfolio
 		JNJ
Johnson & Johnson
2.30% of portfolio
 		LFUS
Littelfuse Inc.
2.26% of portfolio
 		MSI
Motorola Solutions Inc.
2.22% of portfolio
 		HRL
Hormel Foods Corp.
1.99% of portfolio
 		SHW
Sherwin-Williams
1.99% of portfolio
 		FUL
H.B. Fuller Co.
1.78% of portfolio
2021   Q2$5.49 B MSFT
Microsoft Corp.
7.27% of portfolio
 		GOOG
Alphabet Inc. CL C
6.87% of portfolio
 		UNH
United Health Group Inc.
4.49% of portfolio
 		AMZN
Amazon.com Inc.
4.41% of portfolio
 		NVDA
NVIDIA Corp.
4.02% of portfolio
 		ECL
Ecolab Inc.
3.90% of portfolio
 		USB
U.S. Bancorp
3.85% of portfolio
 		MDT
Medtronic plc
3.70% of portfolio
 		TECH
Bio-Techne Corp.
3.36% of portfolio
 		GGG
Graco Inc.
3.10% of portfolio
 		TTC
Toro Co.
3.07% of portfolio
 		V
Visa Inc.
2.88% of portfolio
 		RHHBY
Roche Holding AG ADR
2.76% of portfolio
 		JNJ
Johnson & Johnson
2.33% of portfolio
 		FI
Fiserv Inc.
2.26% of portfolio
 		HRL
Hormel Foods Corp.
2.14% of portfolio
 		LFUS
Littelfuse Inc.
2.09% of portfolio
 		MSI
Motorola Solutions Inc.
2.05% of portfolio
 		COR-OLD
CoreSite Realty Corp.
2.00% of portfolio
 		WFC
Wells Fargo
1.96% of portfolio
2021   Q1$5.08 B GOOG
Alphabet Inc. CL C
6.74% of portfolio
 		MSFT
Microsoft Corp.
6.59% of portfolio
 		UNH
United Health Group Inc.
4.50% of portfolio
 		USB
U.S. Bancorp
4.25% of portfolio
 		ECL
Ecolab Inc.
3.98% of portfolio
 		MDT
Medtronic plc
3.95% of portfolio
 		TECH
Bio-Techne Corp.
3.27% of portfolio
 		TTC
Toro Co.
3.19% of portfolio
 		GGG
Graco Inc.
3.16% of portfolio
 		NVDA
NVIDIA Corp.
3.15% of portfolio
 		AMZN
Amazon.com Inc.
3.13% of portfolio
 		V
Visa Inc.
2.81% of portfolio
 		FI
Fiserv Inc.
2.62% of portfolio
 		RHHBY
Roche Holding AG ADR
2.57% of portfolio
 		JNJ
Johnson & Johnson
2.51% of portfolio
 		LFUS
Littelfuse Inc.
2.34% of portfolio
 		HRL
Hormel Foods Corp.
2.26% of portfolio
 		FUL
H.B. Fuller Co.
2.12% of portfolio
 		COR-OLD
CoreSite Realty Corp.
2.05% of portfolio
 		WFC
Wells Fargo
1.97% of portfolio
2020   Q4$4.83 B GOOG
Alphabet Inc. CL C
6.66% of portfolio
 		MSFT
Microsoft Corp.
6.54% of portfolio
 		USB
U.S. Bancorp
4.51% of portfolio
 		MDT
Medtronic plc
4.19% of portfolio
 		ECL
Ecolab Inc.
3.85% of portfolio
 		UNH
United Health Group Inc.
3.70% of portfolio
 		GGG
Graco Inc.
3.36% of portfolio
 		NVDA
NVIDIA Corp.
3.13% of portfolio
 		TECH
Bio-Techne Corp.
3.10% of portfolio
 		TTC
Toro Co.
3.08% of portfolio
 		V
Visa Inc.
3.06% of portfolio
 		RHHBY
Roche Holding AG ADR
2.89% of portfolio
 		JNJ
Johnson & Johnson
2.59% of portfolio
 		AMZN
Amazon.com Inc.
2.53% of portfolio
 		FI
Fiserv Inc.
2.50% of portfolio
 		LFUS
Littelfuse Inc.
2.29% of portfolio
 		COR-OLD
CoreSite Realty Corp.
2.26% of portfolio
 		MMM
3M Co.
2.22% of portfolio
 		HRL
Hormel Foods Corp.
2.21% of portfolio
 		DIS
Walt Disney Co.
2.12% of portfolio
2020   Q3$4.35 B MSFT
Microsoft Corp.
6.87% of portfolio
 		GOOG
Alphabet Inc. CL C
6.16% of portfolio
 		NVDA
NVIDIA Corp.
4.17% of portfolio
 		MDT
Medtronic plc
4.14% of portfolio
 		ECL
Ecolab Inc.
3.95% of portfolio
 		USB
U.S. Bancorp
3.94% of portfolio
 		UNH
United Health Group Inc.
3.61% of portfolio
 		GGG
Graco Inc.
3.20% of portfolio
 		RHHBY
Roche Holding AG ADR
3.14% of portfolio
 		TTC
Toro Co.
3.03% of portfolio
 		V
Visa Inc.
2.88% of portfolio
 		DIS
Walt Disney Co.
2.77% of portfolio
 		JNJ
Johnson & Johnson
2.72% of portfolio
 		TECH
Bio-Techne Corp.
2.69% of portfolio
 		HRL
Hormel Foods Corp.
2.52% of portfolio
 		FI
Fiserv Inc.
2.51% of portfolio
 		MMM
3M Co.
2.51% of portfolio
 		COR-OLD
CoreSite Realty Corp.
2.38% of portfolio
 		PFG
Principal Financial Group
2.08% of portfolio
 		DCI
Donaldson Co.
1.90% of portfolio
2020   Q2$4.14 B MSFT
Microsoft Corp.
6.74% of portfolio
 		GOOG
Alphabet Inc. CL C
6.23% of portfolio
 		ECL
Ecolab Inc.
4.30% of portfolio
 		USB
U.S. Bancorp
4.25% of portfolio
 		MDT
Medtronic plc
3.74% of portfolio
 		UNH
United Health Group Inc.
3.59% of portfolio
 		RHHBY
Roche Holding AG ADR
3.34% of portfolio
 		NVDA
NVIDIA Corp.
3.21% of portfolio
 		TECH
Bio-Techne Corp.
3.20% of portfolio
 		DIS
Walt Disney Co.
2.91% of portfolio
 		MMM
3M Co.
2.76% of portfolio
 		GGG
Graco Inc.
2.73% of portfolio
 		JNJ
Johnson & Johnson
2.70% of portfolio
 		HRL
Hormel Foods Corp.
2.64% of portfolio
 		COR-OLD
CoreSite Realty Corp.
2.55% of portfolio
 		V
Visa Inc.
2.52% of portfolio
 		TTC
Toro Co.
2.52% of portfolio
 		FAST
Fastenal
2.38% of portfolio
 		FI
Fiserv Inc.
2.35% of portfolio
 		PFG
Principal Financial Group
2.25% of portfolio
2020   Q1$3.59 B GOOG
Alphabet Inc. CL C
6.02% of portfolio
 		MSFT
Microsoft Corp.
5.49% of portfolio
 		USB
U.S. Bancorp
4.16% of portfolio
 		MDT
Medtronic plc
4.12% of portfolio
 		ECL
Ecolab Inc.
4.07% of portfolio
 		RHHBY
Roche Holding AG ADR
3.70% of portfolio
 		UNH
United Health Group Inc.
3.59% of portfolio
 		MMM
3M Co.
3.43% of portfolio
 		JNJ
Johnson & Johnson
3.29% of portfolio
 		GGG
Graco Inc.
3.19% of portfolio
 		TECH
Bio-Techne Corp.
3.12% of portfolio
 		HRL
Hormel Foods Corp.
2.94% of portfolio
 		DIS
Walt Disney Co.
2.90% of portfolio
 		COR-OLD
CoreSite Realty Corp.
2.81% of portfolio
 		TTC
Toro Co.
2.74% of portfolio
 		NVDA
NVIDIA Corp.
2.72% of portfolio
 		FI
Fiserv Inc.
2.58% of portfolio
 		DCI
Donaldson Co.
2.50% of portfolio
 		FAST
Fastenal
2.41% of portfolio
 		V
Visa Inc.
2.29% of portfolio
2019   Q4$4.59 B GOOG
Alphabet Inc. CL C
5.70% of portfolio
 		USB
U.S. Bancorp
5.07% of portfolio
 		MDT
Medtronic plc
4.27% of portfolio
 		MMM
3M Co.
4.04% of portfolio
 		ECL
Ecolab Inc.
3.94% of portfolio
 		MSFT
Microsoft Corp.
3.86% of portfolio
 		JNJ
Johnson & Johnson
3.72% of portfolio
 		DIS
Walt Disney Co.
3.40% of portfolio
 		UNH
United Health Group Inc.
3.37% of portfolio
 		RHHBY
Roche Holding AG ADR
3.28% of portfolio
 		HRL
Hormel Foods Corp.
3.10% of portfolio
 		GGG
Graco Inc.
2.99% of portfolio
 		DCI
Donaldson Co.
2.97% of portfolio
 		TECH
Bio-Techne Corp.
2.74% of portfolio
 		TTC
Toro Co.
2.69% of portfolio
 		FAST
Fastenal
2.59% of portfolio
 		FI
Fiserv Inc.
2.53% of portfolio
 		PFG
Principal Financial Group
2.30% of portfolio
 		CHRW
C.H. Robinson Worldwide
2.22% of portfolio
 		AXP
American Express
2.09% of portfolio
2019   Q3$4.32 B GOOG
Alphabet Inc. CL C
5.53% of portfolio
 		USB
U.S. Bancorp
5.08% of portfolio
 		MDT
Medtronic plc
4.35% of portfolio
 		ECL
Ecolab Inc.
4.30% of portfolio
 		MMM
3M Co.
4.00% of portfolio
 		MSFT
Microsoft Corp.
3.62% of portfolio
 		JNJ
Johnson & Johnson
3.48% of portfolio
 		HRL
Hormel Foods Corp.
3.28% of portfolio
 		DIS
Walt Disney Co.
3.26% of portfolio
 		DCI
Donaldson Co.
3.17% of portfolio
 		RHHBY
Roche Holding AG ADR
3.12% of portfolio
 		FI
Fiserv Inc.
3.01% of portfolio
 		TTC
Toro Co.
2.94% of portfolio
 		GGG
Graco Inc.
2.82% of portfolio
 		TECH
Bio-Techne Corp.
2.71% of portfolio
 		UNH
United Health Group Inc.
2.65% of portfolio
 		CHRW
C.H. Robinson Worldwide
2.45% of portfolio
 		FAST
Fastenal
2.44% of portfolio
 		PFG
Principal Financial Group
2.25% of portfolio
 		HON
Honeywell Int'l Inc.
2.23% of portfolio
2019   Q2$4.34 B GOOG
Alphabet Inc. CL C
4.89% of portfolio
 		USB
U.S. Bancorp
4.87% of portfolio
 		ECL
Ecolab Inc.
4.43% of portfolio
 		MMM
3M Co.
4.12% of portfolio
 		MDT
Medtronic plc
4.08% of portfolio
 		JNJ
Johnson & Johnson
3.79% of portfolio
 		DIS
Walt Disney Co.
3.51% of portfolio
 		MSFT
Microsoft Corp.
3.42% of portfolio
 		DCI
Donaldson Co.
3.38% of portfolio
 		HRL
Hormel Foods Corp.
3.17% of portfolio
 		GGG
Graco Inc.
3.06% of portfolio
 		TECH
Bio-Techne Corp.
2.97% of portfolio
 		RHHBY
Roche Holding AG ADR
2.96% of portfolio
 		FI
Fiserv Inc.
2.89% of portfolio
 		UNH
United Health Group Inc.
2.74% of portfolio
 		TTC
Toro Co.
2.72% of portfolio
 		FAST
Fastenal
2.42% of portfolio
 		ABT
Abbott Labs
2.39% of portfolio
 		PFG
Principal Financial Group
2.30% of portfolio
 		HON
Honeywell Int'l Inc.
2.29% of portfolio
2019   Q1$4.3 B GOOG
Alphabet Inc. CL C
5.02% of portfolio
 		ECL
Ecolab Inc.
4.60% of portfolio
 		USB
U.S. Bancorp
4.51% of portfolio
 		MMM
3M Co.
4.47% of portfolio
 		JNJ
Johnson & Johnson
3.84% of portfolio
 		MDT
Medtronic plc
3.74% of portfolio
 		HRL
Hormel Foods Corp.
3.56% of portfolio
 		DCI
Donaldson Co.
3.40% of portfolio
 		DIS
Walt Disney Co.
3.20% of portfolio
 		TECH
Bio-Techne Corp.
3.14% of portfolio
 		GGG
Graco Inc.
3.10% of portfolio
 		ABT
Abbott Labs
3.09% of portfolio
 		HON
Honeywell Int'l Inc.
3.04% of portfolio
 		MSFT
Microsoft Corp.
2.94% of portfolio
 		TTC
Toro Co.
2.88% of portfolio
 		FI
Fiserv Inc.
2.82% of portfolio
 		RHHBY
Roche Holding AG ADR
2.79% of portfolio
 		FAST
Fastenal
2.66% of portfolio
 		CHRW
C.H. Robinson Worldwide
2.29% of portfolio
 		ZBH
Zimmer Biomet Holdings
2.05% of portfolio
2018   Q4$3.88 B ECL
Ecolab Inc.
4.84% of portfolio
 		USB
U.S. Bancorp
4.82% of portfolio
 		GOOG
Alphabet Inc. CL C
4.75% of portfolio
 		MMM
3M Co.
4.54% of portfolio
 		MDT
Medtronic plc
4.13% of portfolio
 		JNJ
Johnson & Johnson
3.92% of portfolio
 		HRL
Hormel Foods Corp.
3.91% of portfolio
 		DIS
Walt Disney Co.
3.43% of portfolio
 		DCI
Donaldson Co.
3.26% of portfolio
 		ABT
Abbott Labs
3.21% of portfolio
 		GGG
Graco Inc.
3.04% of portfolio
 		HON
Honeywell Int'l Inc.
3.03% of portfolio
 		RHHBY
Roche Holding AG ADR
2.79% of portfolio
 		MSFT
Microsoft Corp.
2.62% of portfolio
 		TECH
Bio-Techne Corp.
2.61% of portfolio
 		FI
Fiserv Inc.
2.60% of portfolio
 		TTC
Toro Co.
2.59% of portfolio
 		FAST
Fastenal
2.57% of portfolio
 		CHRW
C.H. Robinson Worldwide
2.28% of portfolio
 		BMS
Bemis Co.
2.03% of portfolio
2018   Q3$4.53 B ECL
Ecolab Inc.
4.95% of portfolio
 		USB
U.S. Bancorp
4.77% of portfolio
 		GOOG
Alphabet Inc. CL C
4.53% of portfolio
 		MDT
Medtronic plc
4.08% of portfolio
 		MMM
3M Co.
4.07% of portfolio
 		DCI
Donaldson Co.
3.87% of portfolio
 		HRL
Hormel Foods Corp.
3.75% of portfolio
 		JNJ
Johnson & Johnson
3.69% of portfolio
 		HON
Honeywell Int'l Inc.
3.32% of portfolio
 		ABT
Abbott Labs
3.20% of portfolio
 		DIS
Walt Disney Co.
3.13% of portfolio
 		TECH
Bio-Techne Corp.
3.06% of portfolio
 		GGG
Graco Inc.
2.88% of portfolio
 		FI
Fiserv Inc.
2.54% of portfolio
 		FAST
Fastenal
2.44% of portfolio
 		RHHBY
Roche Holding AG ADR
2.35% of portfolio
 		CHRW
C.H. Robinson Worldwide
2.28% of portfolio
 		TTC
Toro Co.
2.23% of portfolio
 		MSFT
Microsoft Corp.
2.16% of portfolio
 		ZBH
Zimmer Biomet Holdings
2.03% of portfolio
2018   Q2$4.27 B USB
U.S. Bancorp
4.79% of portfolio
 		ECL
Ecolab Inc.
4.70% of portfolio
 		GOOG
Alphabet Inc. CL C
4.28% of portfolio
 		MDT
Medtronic plc
4.07% of portfolio
 		HRL
Hormel Foods Corp.
3.75% of portfolio
 		HON
Honeywell Int'l Inc.
3.73% of portfolio
 		JNJ
Johnson & Johnson
3.65% of portfolio
 		MMM
3M Co.
3.57% of portfolio
 		DCI
Donaldson Co.
3.50% of portfolio
 		ABT
Abbott Labs
3.27% of portfolio
 		DIS
Walt Disney Co.
3.13% of portfolio
 		GGG
Graco Inc.
3.02% of portfolio
 		TECH
Bio-Techne Corp.
2.75% of portfolio
 		FI
Fiserv Inc.
2.43% of portfolio
 		RHHBY
Roche Holding AG ADR
2.28% of portfolio
 		TTC
Toro Co.
2.27% of portfolio
 		FAST
Fastenal
2.16% of portfolio
 		CHRW
C.H. Robinson Worldwide
2.10% of portfolio
 		FUL
H.B. Fuller Co.
2.10% of portfolio
 		SLB
Schlumberger Ltd.
2.08% of portfolio
2018   Q1$4.33 B ECL
Ecolab Inc.
5.23% of portfolio
 		USB
U.S. Bancorp
4.78% of portfolio
 		MDT
Medtronic plc
4.01% of portfolio
 		HON
Honeywell Int'l Inc.
3.99% of portfolio
 		JNJ
Johnson & Johnson
3.81% of portfolio
 		MMM
3M Co.
3.63% of portfolio
 		ABT
Abbott Labs
3.59% of portfolio
 		DCI
Donaldson Co.
3.50% of portfolio
 		HRL
Hormel Foods Corp.
3.42% of portfolio
 		GGG
Graco Inc.
3.41% of portfolio
 		GOOG
Alphabet Inc. CL C
3.39% of portfolio
 		TECH
Bio-Techne Corp.
2.97% of portfolio
 		DIS
Walt Disney Co.
2.96% of portfolio
 		CHRW
C.H. Robinson Worldwide
2.46% of portfolio
 		FAST
Fastenal
2.45% of portfolio
 		BMS
Bemis Co.
2.43% of portfolio
 		RHHBY
Roche Holding AG ADR
2.34% of portfolio
 		TTC
Toro Co.
2.32% of portfolio
 		FI
Fiserv Inc.
2.31% of portfolio
 		PNR
Pentair plc
2.31% of portfolio
2017   Q4$4.67 B ECL
Ecolab Inc.
4.94% of portfolio
 		USB
U.S. Bancorp
4.69% of portfolio
 		HON
Honeywell Int'l Inc.
4.43% of portfolio
 		JNJ
Johnson & Johnson
3.84% of portfolio
 		GGG
Graco Inc.
3.83% of portfolio
 		MMM
3M Co.
3.75% of portfolio
 		MDT
Medtronic plc
3.74% of portfolio
 		DCI
Donaldson Co.
3.54% of portfolio
 		ABT
Abbott Labs
3.50% of portfolio
 		HRL
Hormel Foods Corp.
3.35% of portfolio
 		DIS
Walt Disney Co.
2.93% of portfolio
 		GOOG
Alphabet Inc. CL C
2.84% of portfolio
 		BMS
Bemis Co.
2.67% of portfolio
 		GIS
General Mills
2.54% of portfolio
 		TECH
Bio-Techne Corp.
2.49% of portfolio
 		PNR
Pentair plc
2.42% of portfolio
 		RHHBY
Roche Holding AG ADR
2.38% of portfolio
 		FUL
H.B. Fuller Co.
2.36% of portfolio
 		PFG
Principal Financial Group
2.29% of portfolio
 		FAST
Fastenal
2.28% of portfolio
2017   Q3$4.36 B ECL
Ecolab Inc.
5.08% of portfolio
 		USB
U.S. Bancorp
5.04% of portfolio
 		HON
Honeywell Int'l Inc.
4.46% of portfolio
 		GGG
Graco Inc.
4.19% of portfolio
 		MMM
3M Co.
4.02% of portfolio
 		JNJ
Johnson & Johnson
3.83% of portfolio
 		MDT
Medtronic plc
3.76% of portfolio
 		ABT
Abbott Labs
3.52% of portfolio
 		HRL
Hormel Foods Corp.
3.12% of portfolio
 		FUL
H.B. Fuller Co.
2.92% of portfolio
 		DIS
Walt Disney Co.
2.88% of portfolio
 		GOOG
Alphabet Inc. CL C
2.80% of portfolio
 		BMS
Bemis Co.
2.78% of portfolio
 		RHHBY
Roche Holding AG ADR
2.59% of portfolio
 		PNR
Pentair plc
2.57% of portfolio
 		TECH
Bio-Techne Corp.
2.50% of portfolio
 		GIS
General Mills
2.42% of portfolio
 		SLB
Schlumberger Ltd.
2.32% of portfolio
 		TTC
Toro Co.
2.32% of portfolio
 		PFG
Principal Financial Group
2.24% of portfolio
2017   Q2$4.54 B ECL
Ecolab Inc.
5.03% of portfolio
 		USB
U.S. Bancorp
4.68% of portfolio
 		GGG
Graco Inc.
4.24% of portfolio
 		MMM
3M Co.
4.24% of portfolio
 		MDT
Medtronic plc
4.07% of portfolio
 		HON
Honeywell Int'l Inc.
4.02% of portfolio
 		JNJ
Johnson & Johnson
3.80% of portfolio
 		DCI
Donaldson Co.
3.41% of portfolio
 		HRL
Hormel Foods Corp.
3.17% of portfolio
 		ABT
Abbott Labs
3.07% of portfolio
 		DIS
Walt Disney Co.
2.98% of portfolio
 		BMS
Bemis Co.
2.97% of portfolio
 		FUL
H.B. Fuller Co.
2.80% of portfolio
 		TTC
Toro Co.
2.80% of portfolio
 		GIS
General Mills
2.49% of portfolio
 		RHHBY
Roche Holding AG ADR
2.46% of portfolio
 		PNR
Pentair plc
2.43% of portfolio
 		TECH
Bio-Techne Corp.
2.34% of portfolio
 		PFG
Principal Financial Group
2.14% of portfolio
 		ZBH
Zimmer Biomet Holdings
2.11% of portfolio
2017   Q1$4.5 B ECL
Ecolab Inc.
4.80% of portfolio
 		USB
U.S. Bancorp
4.69% of portfolio
 		GGG
Graco Inc.
4.21% of portfolio
 		MMM
3M Co.
4.04% of portfolio
 		HON
Honeywell Int'l Inc.
3.81% of portfolio
 		MDT
Medtronic plc
3.73% of portfolio
 		JNJ
Johnson & Johnson
3.62% of portfolio
 		DCI
Donaldson Co.
3.44% of portfolio
 		BMS
Bemis Co.
3.17% of portfolio
 		DIS
Walt Disney Co.
3.13% of portfolio
 		HRL
Hormel Foods Corp.
2.98% of portfolio
 		FUL
H.B. Fuller Co.
2.85% of portfolio
 		TTC
Toro Co.
2.82% of portfolio
 		GIS
General Mills
2.68% of portfolio
 		ABT
Abbott Labs
2.67% of portfolio
 		SLB
Schlumberger Ltd.
2.52% of portfolio
 		RHHBY
Roche Holding AG ADR
2.42% of portfolio
 		PNR
Pentair plc
2.32% of portfolio
 		CHRW
C.H. Robinson Worldwide
2.21% of portfolio
 		PFG
Principal Financial Group
2.13% of portfolio
2016   Q4$4.34 B USB
U.S. Bancorp
4.92% of portfolio
 		ECL
Ecolab Inc.
4.35% of portfolio
 		STJ
St Jude Medical
4.03% of portfolio
 		MMM
3M Co.
3.91% of portfolio
 		GGG
Graco Inc.
3.85% of portfolio
 		HON
Honeywell Int'l Inc.
3.66% of portfolio
 		JNJ
Johnson & Johnson
3.35% of portfolio
 		DCI
Donaldson Co.
3.35% of portfolio
 		BMS
Bemis Co.
3.22% of portfolio
 		MDT
Medtronic plc
3.06% of portfolio
 		GIS
General Mills
2.88% of portfolio
 		TTC
Toro Co.
2.82% of portfolio
 		SLB
Schlumberger Ltd.
2.81% of portfolio
 		DIS
Walt Disney Co.
2.79% of portfolio
 		FUL
H.B. Fuller Co.
2.76% of portfolio
 		HRL
Hormel Foods Corp.
2.45% of portfolio
 		TGT
Target Corp.
2.36% of portfolio
 		CHRW
C.H. Robinson Worldwide
2.25% of portfolio
 		RHHBY
Roche Holding AG ADR
2.21% of portfolio
 		PFG
Principal Financial Group
2.17% of portfolio
2016   Q3$4.29 B ECL
Ecolab Inc.
4.51% of portfolio
 		USB
U.S. Bancorp
4.47% of portfolio
 		STJ
St Jude Medical
4.06% of portfolio
 		MMM
3M Co.
3.90% of portfolio
 		HON
Honeywell Int'l Inc.
3.70% of portfolio
 		MDT
Medtronic plc
3.59% of portfolio
 		JNJ
Johnson & Johnson
3.53% of portfolio
 		GGG
Graco Inc.
3.47% of portfolio
 		BMS
Bemis Co.
3.47% of portfolio
 		DCI
Donaldson Co.
3.16% of portfolio
 		TTC
Toro Co.
2.97% of portfolio
 		GIS
General Mills
2.92% of portfolio
 		FUL
H.B. Fuller Co.
2.69% of portfolio
 		SLB
Schlumberger Ltd.
2.66% of portfolio
 		DIS
Walt Disney Co.
2.51% of portfolio
 		PNR
Pentair plc
2.49% of portfolio
 		HRL
Hormel Foods Corp.
2.45% of portfolio
 		RHHBY
Roche Holding AG ADR
2.29% of portfolio
 		TECH
Bio-Techne Corp.
2.27% of portfolio
 		TGT
Target Corp.
2.27% of portfolio
2016   Q2$4.2 B ECL
Ecolab Inc.
4.49% of portfolio
 		USB
U.S. Bancorp
4.30% of portfolio
 		STJ
St Jude Medical
4.05% of portfolio
 		MMM
3M Co.
3.97% of portfolio
 		HON
Honeywell Int'l Inc.
3.77% of portfolio
 		JNJ
Johnson & Johnson
3.73% of portfolio
 		MDT
Medtronic plc
3.70% of portfolio
 		BMS
Bemis Co.
3.58% of portfolio
 		GIS
General Mills
3.45% of portfolio
 		GGG
Graco Inc.
3.41% of portfolio
 		DCI
Donaldson Co.
2.97% of portfolio
 		TTC
Toro Co.
2.94% of portfolio
 		SLB
Schlumberger Ltd.
2.73% of portfolio
 		FUL
H.B. Fuller Co.
2.60% of portfolio
 		VAL-OLD
Valspar Corp.
2.45% of portfolio
 		HRL
Hormel Foods Corp.
2.42% of portfolio
 		TECH
Bio-Techne Corp.
2.39% of portfolio
 		DIS
Walt Disney Co.
2.38% of portfolio
 		TGT
Target Corp.
2.36% of portfolio
 		CHRW
C.H. Robinson Worldwide
2.34% of portfolio
2016   Q1$3.97 B ECL
Ecolab Inc.
4.47% of portfolio
 		USB
U.S. Bancorp
4.33% of portfolio
 		MMM
3M Co.
3.99% of portfolio
 		GGG
Graco Inc.
3.81% of portfolio
 		BMS
Bemis Co.
3.81% of portfolio
 		HON
Honeywell Int'l Inc.
3.78% of portfolio
 		JNJ
Johnson & Johnson
3.52% of portfolio
 		VAL-OLD
Valspar Corp.
3.43% of portfolio
 		MDT
Medtronic plc
3.38% of portfolio
 		GIS
General Mills
3.29% of portfolio
 		TTC
Toro Co.
3.08% of portfolio
 		STJ
St Jude Medical
3.02% of portfolio
 		DCI
Donaldson Co.
2.84% of portfolio
 		TGT
Target Corp.
2.76% of portfolio
 		SLB
Schlumberger Ltd.
2.70% of portfolio
 		FUL
H.B. Fuller Co.
2.66% of portfolio
 		CHRW
C.H. Robinson Worldwide
2.47% of portfolio
 		HRL
Hormel Foods Corp.
2.45% of portfolio
 		PNR
Pentair plc
2.27% of portfolio
 		EMR
Emerson Electric
2.18% of portfolio
2015   Q4$3.79 B ECL
Ecolab Inc.
4.80% of portfolio
 		USB
U.S. Bancorp
4.53% of portfolio
 		MMM
3M Co.
3.94% of portfolio
 		MDT
Medtronic plc
3.86% of portfolio
 		VAL-OLD
Valspar Corp.
3.86% of portfolio
 		HON
Honeywell Int'l Inc.
3.80% of portfolio
 		BMS
Bemis Co.
3.57% of portfolio
 		JNJ
Johnson & Johnson
3.50% of portfolio
 		GGG
Graco Inc.
3.43% of portfolio
 		GIS
General Mills
3.14% of portfolio
 		TTC
Toro Co.
2.92% of portfolio
 		TGT
Target Corp.
2.74% of portfolio
 		DCI
Donaldson Co.
2.67% of portfolio
 		SLB
Schlumberger Ltd.
2.67% of portfolio
 		STJ
St Jude Medical
2.63% of portfolio
 		HRL
Hormel Foods Corp.
2.55% of portfolio
 		FUL
H.B. Fuller Co.
2.39% of portfolio
 		WFC
Wells Fargo
2.20% of portfolio
 		CHRW
C.H. Robinson Worldwide
2.20% of portfolio
 		PNR
Pentair plc
2.17% of portfolio
2015   Q3$3.65 B ECL
Ecolab Inc.
4.81% of portfolio
 		USB
U.S. Bancorp
4.52% of portfolio
 		HON
Honeywell Int'l Inc.
3.94% of portfolio
 		MMM
3M Co.
3.90% of portfolio
 		VAL-OLD
Valspar Corp.
3.54% of portfolio
 		MDT
Medtronic plc
3.48% of portfolio
 		BMS
Bemis Co.
3.41% of portfolio
 		HRL
Hormel Foods Corp.
3.35% of portfolio
 		TTC
Toro Co.
3.32% of portfolio
 		GGG
Graco Inc.
3.31% of portfolio
 		JNJ
Johnson & Johnson
3.30% of portfolio
 		GIS
General Mills
3.17% of portfolio
 		TGT
Target Corp.
3.12% of portfolio
 		SLB
Schlumberger Ltd.
2.74% of portfolio
 		DCI
Donaldson Co.
2.66% of portfolio
 		EMR
Emerson Electric
2.61% of portfolio
 		CHRW
C.H. Robinson Worldwide
2.49% of portfolio
 		STJ
St Jude Medical
2.40% of portfolio
 		PNR
Pentair plc
2.32% of portfolio
 		FUL
H.B. Fuller Co.
2.31% of portfolio
2015   Q2$4.07 B ECL
Ecolab Inc.
4.56% of portfolio
 		USB
U.S. Bancorp
4.29% of portfolio
 		HON
Honeywell Int'l Inc.
3.89% of portfolio
 		MMM
3M Co.
3.81% of portfolio
 		VAL-OLD
Valspar Corp.
3.68% of portfolio
 		BMS
Bemis Co.
3.51% of portfolio
 		MDT
Medtronic plc
3.50% of portfolio
 		GGG
Graco Inc.
3.14% of portfolio
 		JNJ
Johnson & Johnson
3.09% of portfolio
 		SLB
Schlumberger Ltd.
3.07% of portfolio
 		HRL
Hormel Foods Corp.
3.05% of portfolio
 		TTC
Toro Co.
3.03% of portfolio
 		TGT
Target Corp.
3.02% of portfolio
 		DCI
Donaldson Co.
3.01% of portfolio
 		EMR
Emerson Electric
2.94% of portfolio
 		GIS
General Mills
2.82% of portfolio
 		PNR
Pentair plc
2.81% of portfolio
 		STJ
St Jude Medical
2.52% of portfolio
 		BAX
Baxter International Inc.
2.49% of portfolio
 		FUL
H.B. Fuller Co.
2.48% of portfolio
2015   Q1$4.22 B ECL
Ecolab Inc.
4.45% of portfolio
 		USB
U.S. Bancorp
4.14% of portfolio
 		MMM
3M Co.
3.93% of portfolio
 		HON
Honeywell Int'l Inc.
3.83% of portfolio
 		VAL-OLD
Valspar Corp.
3.75% of portfolio
 		MDT
Medtronic plc
3.55% of portfolio
 		TTC
Toro Co.
3.53% of portfolio
 		BMS
Bemis Co.
3.48% of portfolio
 		TGT
Target Corp.
3.17% of portfolio
 		SLB
Schlumberger Ltd.
3.07% of portfolio
 		DCI
Donaldson Co.
3.06% of portfolio
 		JNJ
Johnson & Johnson
3.05% of portfolio
 		HRL
Hormel Foods Corp.
3.01% of portfolio
 		EMR
Emerson Electric
2.90% of portfolio
 		GGG
Graco Inc.
2.89% of portfolio
 		GIS
General Mills
2.76% of portfolio
 		FUL
H.B. Fuller Co.
2.52% of portfolio
 		PNR
Pentair plc
2.47% of portfolio
 		STJ
St Jude Medical
2.45% of portfolio
 		CHRW
C.H. Robinson Worldwide
2.43% of portfolio
2014   Q4$4.23 B USB
U.S. Bancorp
4.25% of portfolio
 		ECL
Ecolab Inc.
4.05% of portfolio
 		VAL-OLD
Valspar Corp.
4.01% of portfolio
 		MMM
3M Co.
4.00% of portfolio
 		HON
Honeywell Int'l Inc.
3.66% of portfolio
 		TGT
Target Corp.
3.59% of portfolio
 		MDT
Medtronic plc
3.55% of portfolio
 		BMS
Bemis Co.
3.39% of portfolio
 		TTC
Toro Co.
3.21% of portfolio
 		EMR
Emerson Electric
3.15% of portfolio
 		DCI
Donaldson Co.
3.10% of portfolio
 		SLB
Schlumberger Ltd.
3.09% of portfolio
 		JNJ
Johnson & Johnson
2.97% of portfolio
 		GGG
Graco Inc.
2.75% of portfolio
 		HRL
Hormel Foods Corp.
2.75% of portfolio
 		PNR
Pentair plc
2.61% of portfolio
 		FUL
H.B. Fuller Co.
2.61% of portfolio
 		GIS
General Mills
2.55% of portfolio
 		BAX
Baxter International Inc.
2.51% of portfolio
 		CHRW
C.H. Robinson Worldwide
2.48% of portfolio
2014   Q3$4.03 B ECL
Ecolab Inc.
4.36% of portfolio
 		MMM
3M Co.
4.18% of portfolio
 		USB
U.S. Bancorp
4.15% of portfolio
 		VAL-OLD
Valspar Corp.
3.94% of portfolio
 		HON
Honeywell Int'l Inc.
3.58% of portfolio
 		SLB
Schlumberger Ltd.
3.51% of portfolio
 		MDT
Medtronic plc
3.50% of portfolio
 		TGT
Target Corp.
3.40% of portfolio
 		EMR
Emerson Electric
3.35% of portfolio
 		JNJ
Johnson & Johnson
3.28% of portfolio
 		DCI
Donaldson Co.
3.20% of portfolio
 		TTC
Toro Co.
3.12% of portfolio
 		BMS
Bemis Co.
2.98% of portfolio
 		HRL
Hormel Foods Corp.
2.84% of portfolio
 		PNR
Pentair plc
2.70% of portfolio
 		GGG
Graco Inc.
2.61% of portfolio
 		BAX
Baxter International Inc.
2.58% of portfolio
 		GIS
General Mills
2.53% of portfolio
 		FUL
H.B. Fuller Co.
2.44% of portfolio
 		CHRW
C.H. Robinson Worldwide
2.35% of portfolio
2014   Q2$4.18 B USB
U.S. Bancorp
4.15% of portfolio
 		MMM
3M Co.
4.08% of portfolio
 		ECL
Ecolab Inc.
4.05% of portfolio
 		VAL-OLD
Valspar Corp.
3.99% of portfolio
 		SLB
Schlumberger Ltd.
3.92% of portfolio
 		MDT
Medtronic plc
3.91% of portfolio
 		HON
Honeywell Int'l Inc.
3.45% of portfolio
 		EMR
Emerson Electric
3.43% of portfolio
 		TTC
Toro Co.
3.24% of portfolio
 		JNJ
Johnson & Johnson
3.10% of portfolio
 		DCI
Donaldson Co.
3.08% of portfolio
 		BMS
Bemis Co.
3.06% of portfolio
 		TGT
Target Corp.
3.03% of portfolio
 		FUL
H.B. Fuller Co.
2.86% of portfolio
 		PNR
Pentair plc
2.76% of portfolio
 		GGG
Graco Inc.
2.69% of portfolio
 		HRL
Hormel Foods Corp.
2.63% of portfolio
 		STJ
St Jude Medical
2.55% of portfolio
 		GIS
General Mills
2.54% of portfolio
 		BAX
Baxter International Inc.
2.51% of portfolio
2014   Q1$4.02 B USB
U.S. Bancorp
4.27% of portfolio
 		MMM
3M Co.
4.02% of portfolio
 		VAL-OLD
Valspar Corp.
3.93% of portfolio
 		MDT
Medtronic plc
3.92% of portfolio
 		ECL
Ecolab Inc.
3.81% of portfolio
 		HON
Honeywell Int'l Inc.
3.58% of portfolio
 		EMR
Emerson Electric
3.56% of portfolio
 		TTC
Toro Co.
3.45% of portfolio
 		SLB
Schlumberger Ltd.
3.37% of portfolio
 		TGT
Target Corp.
3.30% of portfolio
 		PNR
Pentair plc
3.20% of portfolio
 		JNJ
Johnson & Johnson
3.03% of portfolio
 		DCI
Donaldson Co.
3.02% of portfolio
 		FUL
H.B. Fuller Co.
2.98% of portfolio
 		HRL
Hormel Foods Corp.
2.74% of portfolio
 		BMS
Bemis Co.
2.72% of portfolio
 		GGG
Graco Inc.
2.68% of portfolio
 		BAX
Baxter International Inc.
2.66% of portfolio
 		GIS
General Mills
2.59% of portfolio
 		STJ
St Jude Medical
2.51% of portfolio
2013   Q4$3.86 B MMM
3M Co.
4.32% of portfolio
 		USB
U.S. Bancorp
4.18% of portfolio
 		VAL-OLD
Valspar Corp.
4.04% of portfolio
 		TTC
Toro Co.
3.95% of portfolio
 		EMR
Emerson Electric
3.89% of portfolio
 		ECL
Ecolab Inc.
3.82% of portfolio
 		MDT
Medtronic plc
3.80% of portfolio
 		HON
Honeywell Int'l Inc.
3.67% of portfolio
 		PNR
Pentair plc
3.56% of portfolio
 		TGT
Target Corp.
3.53% of portfolio
 		FUL
H.B. Fuller Co.
3.34% of portfolio
 		DCI
Donaldson Co.
3.22% of portfolio
 		SLB
Schlumberger Ltd.
3.13% of portfolio
 		GGG
Graco Inc.
2.91% of portfolio
 		JNJ
Johnson & Johnson
2.68% of portfolio
 		HRL
Hormel Foods Corp.
2.61% of portfolio
 		STJ
St Jude Medical
2.47% of portfolio
 		BAX
Baxter International Inc.
2.38% of portfolio
 		BMS
Bemis Co.
2.32% of portfolio
 		GE
GE Aerospace
2.21% of portfolio
2013   Q3$3.45 B MMM
3M Co.
4.36% of portfolio
 		USB
U.S. Bancorp
4.08% of portfolio
 		ECL
Ecolab Inc.
4.05% of portfolio
 		PNR
Pentair plc
4.03% of portfolio
 		VAL-OLD
Valspar Corp.
4.03% of portfolio
 		EMR
Emerson Electric
4.01% of portfolio
 		MDT
Medtronic plc
3.95% of portfolio
 		TTC
Toro Co.
3.78% of portfolio
 		FUL
H.B. Fuller Co.
3.73% of portfolio
 		HON
Honeywell Int'l Inc.
3.73% of portfolio
 		TGT
Target Corp.
3.58% of portfolio
 		SLB
Schlumberger Ltd.
3.33% of portfolio
 		DCI
Donaldson Co.
3.12% of portfolio
 		GGG
Graco Inc.
3.11% of portfolio
 		JNJ
Johnson & Johnson
2.84% of portfolio
 		HRL
Hormel Foods Corp.
2.72% of portfolio
 		BMS
Bemis Co.
2.47% of portfolio
 		STJ
St Jude Medical
2.39% of portfolio
 		MTSC
MTS Systems Corp.
2.24% of portfolio
 		WFC
Wells Fargo
2.16% of portfolio
2013   Q2$3.02 B VAL-OLD
Valspar Corp.
4.69% of portfolio
 		MMM
3M Co.
4.57% of portfolio
 		MDT
Medtronic plc
4.37% of portfolio
 		TGT
Target Corp.
4.24% of portfolio
 		PNR
Pentair plc
4.19% of portfolio
 		HON
Honeywell Int'l Inc.
4.08% of portfolio
 		ECL
Ecolab Inc.
4.00% of portfolio
 		GGG
Graco Inc.
3.92% of portfolio
 		EMR
Emerson Electric
3.87% of portfolio
 		USB
U.S. Bancorp
3.62% of portfolio
 		TTC
Toro Co.
3.61% of portfolio
 		FUL
H.B. Fuller Co.
3.57% of portfolio
 		JNJ
Johnson & Johnson
3.22% of portfolio
 		DCI
Donaldson Co.
3.11% of portfolio
 		HRL
Hormel Foods Corp.
2.85% of portfolio
 		BMS
Bemis Co.
2.83% of portfolio
 		WFC
Wells Fargo
2.63% of portfolio
 		BAX
Baxter International Inc.
2.36% of portfolio
 		GE
GE Aerospace
2.34% of portfolio
 		GIS
General Mills
2.33% of portfolio
2013   Q1$2.88 B VAL-OLD
Valspar Corp.
4.74% of portfolio
 		MMM
3M Co.
4.51% of portfolio
 		TGT
Target Corp.
4.43% of portfolio
 		MDT
Medtronic plc
4.18% of portfolio
 		EMR
Emerson Electric
4.10% of portfolio
 		HON
Honeywell Int'l Inc.
4.06% of portfolio
 		PNR
Pentair plc
4.02% of portfolio
 		ECL
Ecolab Inc.
3.95% of portfolio
 		FUL
H.B. Fuller Co.
3.87% of portfolio
 		TTC
Toro Co.
3.84% of portfolio
 		GGG
Graco Inc.
3.77% of portfolio
 		USB
U.S. Bancorp
3.56% of portfolio
 		DCI
Donaldson Co.
3.31% of portfolio
 		JNJ
Johnson & Johnson
3.20% of portfolio
 		HRL
Hormel Foods Corp.
3.20% of portfolio
 		BMS
Bemis Co.
3.07% of portfolio
 		BAX
Baxter International Inc.
2.60% of portfolio
 		GIS
General Mills
2.49% of portfolio
 		WFC
Wells Fargo
2.47% of portfolio
 		MTSC
MTS Systems Corp.
2.43% of portfolio
2012   Q4$2.4 B VAL-OLD
Valspar Corp.
5.69% of portfolio
 		MMM
3M Co.
4.72% of portfolio
 		PNR
Pentair plc
4.48% of portfolio
 		TGT
Target Corp.
4.31% of portfolio
 		TTC
Toro Co.
4.30% of portfolio
 		ECL
Ecolab Inc.
4.24% of portfolio
 		FUL
H.B. Fuller Co.
4.13% of portfolio
 		HON
Honeywell Int'l Inc.
4.10% of portfolio
 		GGG
Graco Inc.
4.01% of portfolio
 		MDT
Medtronic plc
3.95% of portfolio
 		EMR
Emerson Electric
3.92% of portfolio
 		USB
U.S. Bancorp
3.87% of portfolio
 		DCI
Donaldson Co.
3.58% of portfolio
 		JNJ
Johnson & Johnson
3.24% of portfolio
 		BMS
Bemis Co.
3.04% of portfolio
 		HRL
Hormel Foods Corp.
2.90% of portfolio
 		BAX
Baxter International Inc.
2.86% of portfolio
 		WFC
Wells Fargo
2.73% of portfolio
 		MTSC
MTS Systems Corp.
2.55% of portfolio
 		GIS
General Mills
2.44% of portfolio
2012   Q3$2.33 B VAL-OLD
Valspar Corp.
5.47% of portfolio
 		MMM
3M Co.
4.81% of portfolio
 		TGT
Target Corp.
4.64% of portfolio
 		USB
U.S. Bancorp
4.29% of portfolio
 		MDT
Medtronic plc
4.21% of portfolio
 		PNR
Pentair plc
4.19% of portfolio
 		TTC
Toro Co.
4.17% of portfolio
 		GGG
Graco Inc.
4.04% of portfolio
 		HON
Honeywell Int'l Inc.
3.98% of portfolio
 		ECL
Ecolab Inc.
3.94% of portfolio
 		DCI
Donaldson Co.
3.91% of portfolio
 		FUL
H.B. Fuller Co.
3.76% of portfolio
 		EMR
Emerson Electric
3.68% of portfolio
 		JNJ
Johnson & Johnson
3.23% of portfolio
 		BMS
Bemis Co.
2.96% of portfolio
 		WFC
Wells Fargo
2.85% of portfolio
 		HRL
Hormel Foods Corp.
2.80% of portfolio
 		MTSC
MTS Systems Corp.
2.76% of portfolio
 		BAX
Baxter International Inc.
2.67% of portfolio
 		GE
GE Aerospace
2.67% of portfolio
2012   Q2$2.2 B VAL-OLD
Valspar Corp.
5.42% of portfolio
 		MMM
3M Co.
4.93% of portfolio
 		TGT
Target Corp.
4.50% of portfolio
 		ECL
Ecolab Inc.
4.41% of portfolio
 		USB
U.S. Bancorp
4.26% of portfolio
 		TTC
Toro Co.
4.07% of portfolio
 		MDT
Medtronic plc
4.00% of portfolio
 		FUL
H.B. Fuller Co.
3.98% of portfolio
 		DCI
Donaldson Co.
3.98% of portfolio
 		HON
Honeywell Int'l Inc.
3.94% of portfolio
 		GGG
Graco Inc.
3.92% of portfolio
 		PNR
Pentair plc
3.81% of portfolio
 		EMR
Emerson Electric
3.74% of portfolio
 		JNJ
Johnson & Johnson
3.35% of portfolio
 		BMS
Bemis Co.
3.11% of portfolio
 		HRL
Hormel Foods Corp.
3.08% of portfolio
 		WFC
Wells Fargo
2.92% of portfolio
 		GE
GE Aerospace
2.59% of portfolio
 		GIS
General Mills
2.54% of portfolio
 		BAX
Baxter International Inc.
2.49% of portfolio
2012   Q1$2.24 B VAL-OLD
Valspar Corp.
4.93% of portfolio
 		PNR
Pentair plc
4.64% of portfolio
 		MMM
3M Co.
4.63% of portfolio
 		GGG
Graco Inc.
4.44% of portfolio
 		TGT
Target Corp.
4.43% of portfolio
 		HON
Honeywell Int'l Inc.
4.23% of portfolio
 		DCI
Donaldson Co.
4.19% of portfolio
 		FUL
H.B. Fuller Co.
4.19% of portfolio
 		USB
U.S. Bancorp
4.12% of portfolio
 		MDT
Medtronic plc
3.95% of portfolio
 		ECL
Ecolab Inc.
3.91% of portfolio
 		EMR
Emerson Electric
3.91% of portfolio
 		TTC
Toro Co.
3.88% of portfolio
 		JNJ
Johnson & Johnson
3.22% of portfolio
 		BMS
Bemis Co.
3.16% of portfolio
 		HRL
Hormel Foods Corp.
2.95% of portfolio
 		WFC
Wells Fargo
2.93% of portfolio
 		MTSC
MTS Systems Corp.
2.85% of portfolio
 		BAX
Baxter International Inc.
2.67% of portfolio
 		GIS
General Mills
2.56% of portfolio
2011   Q4$1.95 B MMM
3M Co.
4.86% of portfolio
 		DCI
Donaldson Co.
4.71% of portfolio
 		VAL-OLD
Valspar Corp.
4.68% of portfolio
 		TGT
Target Corp.
4.47% of portfolio
 		ECL
Ecolab Inc.
4.40% of portfolio
 		MDT
Medtronic plc
4.37% of portfolio
 		HON
Honeywell Int'l Inc.
4.32% of portfolio
 		USB
U.S. Bancorp
4.04% of portfolio
 		EMR
Emerson Electric
4.00% of portfolio
 		GGG
Graco Inc.
3.92% of portfolio
 		TTC
Toro Co.
3.79% of portfolio
 		PNR
Pentair plc
3.74% of portfolio
 		JNJ
Johnson & Johnson
3.67% of portfolio
 		FUL
H.B. Fuller Co.
3.53% of portfolio
 		BMS
Bemis Co.
3.37% of portfolio
 		HRL
Hormel Foods Corp.
3.36% of portfolio
 		GIS
General Mills
3.00% of portfolio
 		WFC
Wells Fargo
2.71% of portfolio
 		BAX
Baxter International Inc.
2.54% of portfolio
 		MTSC
MTS Systems Corp.
2.51% of portfolio
2011   Q3$1.74 B TGT
Target Corp.
4.78% of portfolio
 		ECL
Ecolab Inc.
4.77% of portfolio
 		MMM
3M Co.
4.70% of portfolio
 		DCI
Donaldson Co.
4.53% of portfolio
 		MDT
Medtronic plc
4.25% of portfolio
 		VAL-OLD
Valspar Corp.
4.19% of portfolio
 		PNR
Pentair plc
4.02% of portfolio
 		JNJ
Johnson & Johnson
3.98% of portfolio
 		USB
U.S. Bancorp
3.93% of portfolio
 		HON
Honeywell Int'l Inc.
3.91% of portfolio
 		EMR
Emerson Electric
3.90% of portfolio
 		BMS
Bemis Co.
3.67% of portfolio
 		GGG
Graco Inc.
3.66% of portfolio
 		HRL
Hormel Foods Corp.
3.47% of portfolio
 		TTC
Toro Co.
3.45% of portfolio
 		BAX
Baxter International Inc.
3.22% of portfolio
 		GIS
General Mills
3.20% of portfolio
 		FUL
H.B. Fuller Co.
3.12% of portfolio
 		WFC
Wells Fargo
2.66% of portfolio
 		STJ
St Jude Medical
2.49% of portfolio
2011   Q2$2.11 B MMM
3M Co.
5.14% of portfolio
 		GGG
Graco Inc.
4.65% of portfolio
 		ECL
Ecolab Inc.
4.63% of portfolio
 		HON
Honeywell Int'l Inc.
4.36% of portfolio
 		EMR
Emerson Electric
4.34% of portfolio
 		PNR
Pentair plc
4.20% of portfolio
 		DCI
Donaldson Co.
4.15% of portfolio
 		MDT
Medtronic plc
4.08% of portfolio
 		VAL-OLD
Valspar Corp.
4.01% of portfolio
 		TGT
Target Corp.
3.79% of portfolio
 		JNJ
Johnson & Johnson
3.57% of portfolio
 		USB
U.S. Bancorp
3.53% of portfolio
 		TTC
Toro Co.
3.51% of portfolio
 		BMS
Bemis Co.
3.51% of portfolio
 		FUL
H.B. Fuller Co.
3.46% of portfolio
 		HRL
Hormel Foods Corp.
3.40% of portfolio
 		BAX
Baxter International Inc.
2.84% of portfolio
 		GIS
General Mills
2.79% of portfolio
 		STJ
St Jude Medical
2.72% of portfolio
 		WFC
Wells Fargo
2.55% of portfolio
2011   Q1$2.11 B MMM
3M Co.
5.05% of portfolio
 		HON
Honeywell Int'l Inc.
4.52% of portfolio
 		GGG
Graco Inc.
4.51% of portfolio
 		EMR
Emerson Electric
4.50% of portfolio
 		ECL
Ecolab Inc.
4.40% of portfolio
 		VAL-OLD
Valspar Corp.
4.33% of portfolio
 		DCI
Donaldson Co.
4.18% of portfolio
 		MDT
Medtronic plc
4.16% of portfolio
 		TTC
Toro Co.
4.01% of portfolio
 		TGT
Target Corp.
3.96% of portfolio
 		PNR
Pentair plc
3.92% of portfolio
 		USB
U.S. Bancorp
3.64% of portfolio
 		BMS
Bemis Co.
3.40% of portfolio
 		JNJ
Johnson & Johnson
3.17% of portfolio
 		HRL
Hormel Foods Corp.
3.16% of portfolio
 		FUL
H.B. Fuller Co.
3.03% of portfolio
 		STJ
St Jude Medical
2.91% of portfolio
 		WFC
Wells Fargo
2.87% of portfolio
 		GIS
General Mills
2.73% of portfolio
 		MTSC
MTS Systems Corp.
2.59% of portfolio
2010   Q4$2 B MMM
3M Co.
4.91% of portfolio
 		TGT
Target Corp.
4.71% of portfolio
 		EMR
Emerson Electric
4.68% of portfolio
 		ECL
Ecolab Inc.
4.56% of portfolio
 		HON
Honeywell Int'l Inc.
4.25% of portfolio
 		DCI
Donaldson Co.
4.19% of portfolio
 		GGG
Graco Inc.
4.13% of portfolio
 		MDT
Medtronic plc
4.13% of portfolio
 		TTC
Toro Co.
4.03% of portfolio
 		VAL-OLD
Valspar Corp.
4.03% of portfolio
 		PNR
Pentair plc
3.99% of portfolio
 		USB
U.S. Bancorp
3.92% of portfolio
 		BMS
Bemis Co.
3.56% of portfolio
 		JNJ
Johnson & Johnson
3.49% of portfolio
 		WFC
Wells Fargo
3.11% of portfolio
 		HRL
Hormel Foods Corp.
3.07% of portfolio
 		FUL
H.B. Fuller Co.
3.05% of portfolio
 		GIS
General Mills
2.74% of portfolio
 		STJ
St Jude Medical
2.56% of portfolio
 		BAX
Baxter International Inc.
2.53% of portfolio
2010   Q3$1.83 B MMM
3M Co.
5.34% of portfolio
 		ECL
Ecolab Inc.
5.01% of portfolio
 		EMR
Emerson Electric
4.77% of portfolio
 		TGT
Target Corp.
4.58% of portfolio
 		TTC
Toro Co.
4.09% of portfolio
 		MDT
Medtronic plc
4.07% of portfolio
 		VAL-OLD
Valspar Corp.
4.06% of portfolio
 		PNR
Pentair plc
4.02% of portfolio
 		HON
Honeywell Int'l Inc.
3.83% of portfolio
 		JNJ
Johnson & Johnson
3.82% of portfolio
 		BMS
Bemis Co.
3.78% of portfolio
 		DCI
Donaldson Co.
3.70% of portfolio
 		GGG
Graco Inc.
3.62% of portfolio
 		USB
U.S. Bancorp
3.41% of portfolio
 		FUL
H.B. Fuller Co.
3.20% of portfolio
 		GIS
General Mills
3.07% of portfolio
 		HRL
Hormel Foods Corp.
2.92% of portfolio
 		WFC
Wells Fargo
2.70% of portfolio
 		TCF
TCF Financial
2.68% of portfolio
 		BAX
Baxter International Inc.
2.60% of portfolio
2010   Q2$1.72 B MMM
3M Co.
5.19% of portfolio
 		ECL
Ecolab Inc.
5.07% of portfolio
 		MDT
Medtronic plc
4.60% of portfolio
 		VAL-OLD
Valspar Corp.
4.59% of portfolio
 		TGT
Target Corp.
4.49% of portfolio
 		TTC
Toro Co.
4.26% of portfolio
 		EMR
Emerson Electric
4.22% of portfolio
 		PNR
Pentair plc
4.06% of portfolio
 		JNJ
Johnson & Johnson
3.88% of portfolio
 		USB
U.S. Bancorp
3.70% of portfolio
 		HON
Honeywell Int'l Inc.
3.63% of portfolio
 		DCI
Donaldson Co.
3.57% of portfolio
 		GGG
Graco Inc.
3.43% of portfolio
 		BMS
Bemis Co.
3.43% of portfolio
 		FUL
H.B. Fuller Co.
3.26% of portfolio
 		GIS
General Mills
3.22% of portfolio
 		TCF
TCF Financial
2.94% of portfolio
 		WFC
Wells Fargo
2.87% of portfolio
 		HRL
Hormel Foods Corp.
2.82% of portfolio
 		STJ
St Jude Medical
2.52% of portfolio
2010   Q1$1.99 B MMM
3M Co.
5.13% of portfolio
 		MDT
Medtronic plc
5.09% of portfolio
 		TTC
Toro Co.
4.65% of portfolio
 		EMR
Emerson Electric
4.53% of portfolio
 		TGT
Target Corp.
4.36% of portfolio
 		ECL
Ecolab Inc.
4.31% of portfolio
 		VAL-OLD
Valspar Corp.
4.19% of portfolio
 		PNR
Pentair plc
4.15% of portfolio
 		JNJ
Johnson & Johnson
4.03% of portfolio
 		WFC
Wells Fargo
3.80% of portfolio
 		USB
U.S. Bancorp
3.71% of portfolio
 		HON
Honeywell Int'l Inc.
3.64% of portfolio
 		FUL
H.B. Fuller Co.
3.62% of portfolio
 		DCI
Donaldson Co.
3.52% of portfolio
 		GGG
Graco Inc.
3.37% of portfolio
 		BMS
Bemis Co.
3.16% of portfolio
 		GIS
General Mills
2.78% of portfolio
 		TCF
TCF Financial
2.57% of portfolio
 		BAX
Baxter International Inc.
2.55% of portfolio
 		HRL
Hormel Foods Corp.
2.53% of portfolio
2009   Q4$1.9 B MMM
3M Co.
5.65% of portfolio
 		MDT
Medtronic plc
5.20% of portfolio
 		EMR
Emerson Electric
5.11% of portfolio
 		ECL
Ecolab Inc.
4.57% of portfolio
 		TGT
Target Corp.
4.48% of portfolio
 		JNJ
Johnson & Johnson
4.17% of portfolio
 		TTC
Toro Co.
4.13% of portfolio
 		VAL-OLD
Valspar Corp.
4.07% of portfolio
 		PNR
Pentair plc
3.94% of portfolio
 		DCI
Donaldson Co.
3.78% of portfolio
 		FUL
H.B. Fuller Co.
3.71% of portfolio
 		WFC
Wells Fargo
3.68% of portfolio
 		BMS
Bemis Co.
3.43% of portfolio
 		USB
U.S. Bancorp
3.37% of portfolio
 		HON
Honeywell Int'l Inc.
3.30% of portfolio
 		GGG
Graco Inc.
3.15% of portfolio
 		GIS
General Mills
2.90% of portfolio
 		BAX
Baxter International Inc.
2.68% of portfolio
 		HRL
Hormel Foods Corp.
2.53% of portfolio
 		STJ
St Jude Medical
2.32% of portfolio
2009   Q3$1.85 B MMM
3M Co.
5.60% of portfolio
 		TGT
Target Corp.
5.13% of portfolio
 		EMR
Emerson Electric
4.99% of portfolio
 		ECL
Ecolab Inc.
4.88% of portfolio
 		MDT
Medtronic plc
4.49% of portfolio
 		VAL-OLD
Valspar Corp.
4.31% of portfolio
 		WFC
Wells Fargo
4.24% of portfolio
 		JNJ
Johnson & Johnson
4.06% of portfolio
 		TTC
Toro Co.
4.05% of portfolio
 		DCI
Donaldson Co.
3.73% of portfolio
 		PNR
Pentair plc
3.71% of portfolio
 		FUL
H.B. Fuller Co.
3.51% of portfolio
 		USB
U.S. Bancorp
3.38% of portfolio
 		HON
Honeywell Int'l Inc.
3.22% of portfolio
 		GGG
Graco Inc.
3.16% of portfolio
 		BMS
Bemis Co.
3.09% of portfolio
 		GIS
General Mills
2.72% of portfolio
 		BAX
Baxter International Inc.
2.69% of portfolio
 		STJ
St Jude Medical
2.51% of portfolio
 		HRL
Hormel Foods Corp.
2.42% of portfolio
2009   Q2$1.63 B MMM
3M Co.
5.31% of portfolio
 		TGT
Target Corp.
4.92% of portfolio
 		MDT
Medtronic plc
4.82% of portfolio
 		ECL
Ecolab Inc.
4.67% of portfolio
 		EMR
Emerson Electric
4.57% of portfolio
 		VAL-OLD
Valspar Corp.
4.48% of portfolio
 		JNJ
Johnson & Johnson
4.29% of portfolio
 		DCI
Donaldson Co.
4.25% of portfolio
 		WFC
Wells Fargo
4.14% of portfolio
 		PNR
Pentair plc
3.65% of portfolio
 		FUL
H.B. Fuller Co.
3.57% of portfolio
 		TTC
Toro Co.
3.45% of portfolio
 		BMS
Bemis Co.
3.40% of portfolio
 		USB
U.S. Bancorp
3.14% of portfolio
 		HON
Honeywell Int'l Inc.
3.08% of portfolio
 		HRL
Hormel Foods Corp.
3.03% of portfolio
 		STJ
St Jude Medical
3.00% of portfolio
 		GGG
Graco Inc.
2.83% of portfolio
 		BAX
Baxter International Inc.
2.83% of portfolio
 		GIS
General Mills
2.68% of portfolio
2009   Q1$1.38 B MMM
3M Co.
5.19% of portfolio
 		TGT
Target Corp.
5.06% of portfolio
 		VAL-OLD
Valspar Corp.
5.05% of portfolio
 		ECL
Ecolab Inc.
4.91% of portfolio
 		EMR
Emerson Electric
4.77% of portfolio
 		MDT
Medtronic plc
4.77% of portfolio
 		JNJ
Johnson & Johnson
4.69% of portfolio
 		DCI
Donaldson Co.
3.91% of portfolio
 		PNR
Pentair plc
3.65% of portfolio
 		BMS
Bemis Co.
3.34% of portfolio
 		HRL
Hormel Foods Corp.
3.29% of portfolio
 		TTC
Toro Co.
3.26% of portfolio
 		STJ
St Jude Medical
3.24% of portfolio
 		USB
U.S. Bancorp
3.02% of portfolio
 		FUL
H.B. Fuller Co.
2.92% of portfolio
 		BAX
Baxter International Inc.
2.91% of portfolio
 		HON
Honeywell Int'l Inc.
2.89% of portfolio
 		WFC
Wells Fargo
2.82% of portfolio
 		GIS
General Mills
2.75% of portfolio
 		TCF
TCF Financial
2.72% of portfolio
2008   Q4$1.64 B EMR
Emerson Electric
5.13% of portfolio
 		MMM
3M Co.
5.05% of portfolio
 		WFC
Wells Fargo
4.72% of portfolio
 		JNJ
Johnson & Johnson
4.63% of portfolio
 		TGT
Target Corp.
4.27% of portfolio
 		MDT
Medtronic plc
4.25% of portfolio
 		ECL
Ecolab Inc.
4.17% of portfolio
 		USB
U.S. Bancorp
4.17% of portfolio
 		DCI
Donaldson Co.
4.12% of portfolio
 		VAL-OLD
Valspar Corp.
3.87% of portfolio
 		TTC
Toro Co.
3.74% of portfolio
 		GIS
General Mills
3.34% of portfolio
 		PNR
Pentair plc
3.34% of portfolio
 		BMS
Bemis Co.
3.20% of portfolio
 		FUL
H.B. Fuller Co.
3.04% of portfolio
 		GGG
Graco Inc.
3.03% of portfolio
 		BAX
Baxter International Inc.
3.02% of portfolio
 		HRL
Hormel Foods Corp.
2.97% of portfolio
 		HON
Honeywell Int'l Inc.
2.86% of portfolio
 		PFE
Pfizer Inc.
2.71% of portfolio
2008   Q3$2.17 B WFC
Wells Fargo
5.27% of portfolio
 		MDT
Medtronic plc
5.05% of portfolio
 		TGT
Target Corp.
4.59% of portfolio
 		MMM
3M Co.
4.53% of portfolio
 		USB
U.S. Bancorp
4.51% of portfolio
 		ECL
Ecolab Inc.
4.40% of portfolio
 		EMR
Emerson Electric
4.27% of portfolio
 		JNJ
Johnson & Johnson
4.15% of portfolio
 		DCI
Donaldson Co.
3.88% of portfolio
 		PNR
Pentair plc
3.69% of portfolio
 		VAL-OLD
Valspar Corp.
3.60% of portfolio
 		TTC
Toro Co.
3.54% of portfolio
 		GGG
Graco Inc.
3.44% of portfolio
 		GIS
General Mills
3.08% of portfolio
 		FUL
H.B. Fuller Co.
2.98% of portfolio
 		GE
GE Aerospace
2.81% of portfolio
 		BAX
Baxter International Inc.
2.79% of portfolio
 		HON
Honeywell Int'l Inc.
2.68% of portfolio
 		BMS
Bemis Co.
2.68% of portfolio
 		TCF
TCF Financial
2.65% of portfolio
2008   Q2$2.13 B MDT
Medtronic plc
5.41% of portfolio
 		EMR
Emerson Electric
5.26% of portfolio
 		MMM
3M Co.
4.67% of portfolio
 		TGT
Target Corp.
4.40% of portfolio
 		DCI
Donaldson Co.
4.21% of portfolio
 		JNJ
Johnson & Johnson
4.10% of portfolio
 		ECL
Ecolab Inc.
4.05% of portfolio
 		PNR
Pentair plc
3.81% of portfolio
 		GGG
Graco Inc.
3.74% of portfolio
 		WFC
Wells Fargo
3.71% of portfolio
 		USB
U.S. Bancorp
3.56% of portfolio
 		GIS
General Mills
3.37% of portfolio
 		FUL
H.B. Fuller Co.
3.37% of portfolio
 		HON
Honeywell Int'l Inc.
3.30% of portfolio
 		BAX
Baxter International Inc.
3.25% of portfolio
 		VAL-OLD
Valspar Corp.
3.11% of portfolio
 		GE
GE Aerospace
2.99% of portfolio
 		STJ
St Jude Medical
2.86% of portfolio
 		TTC
Toro Co.
2.85% of portfolio
 		HRL
Hormel Foods Corp.
2.55% of portfolio
2008   Q1$2.32 B EMR
Emerson Electric
5.35% of portfolio
 		MMM
3M Co.
4.81% of portfolio
 		MDT
Medtronic plc
4.65% of portfolio
 		TGT
Target Corp.
4.42% of portfolio
 		WFC
Wells Fargo
4.13% of portfolio
 		DCI
Donaldson Co.
3.91% of portfolio
 		JNJ
Johnson & Johnson
3.81% of portfolio
 		USB
U.S. Bancorp
3.80% of portfolio
 		GE
GE Aerospace
3.80% of portfolio
 		ECL
Ecolab Inc.
3.77% of portfolio
 		GIS
General Mills
3.56% of portfolio
 		HON
Honeywell Int'l Inc.
3.50% of portfolio
 		GGG
Graco Inc.
3.28% of portfolio
 		PNR
Pentair plc
3.19% of portfolio
 		TTC
Toro Co.
3.12% of portfolio
 		BAX
Baxter International Inc.
3.05% of portfolio
 		VAL-OLD
Valspar Corp.
3.00% of portfolio
 		FUL
H.B. Fuller Co.
2.82% of portfolio
 		HRL
Hormel Foods Corp.
2.82% of portfolio
 		STJ
St Jude Medical
2.78% of portfolio
2007   Q4$2.56 B EMR
Emerson Electric
5.41% of portfolio
 		MMM
3M Co.
4.64% of portfolio
 		MDT
Medtronic plc
4.37% of portfolio
 		DCI
Donaldson Co.
4.22% of portfolio
 		ECL
Ecolab Inc.
4.19% of portfolio
 		TGT
Target Corp.
3.92% of portfolio
 		WFC
Wells Fargo
3.87% of portfolio
 		HON
Honeywell Int'l Inc.
3.78% of portfolio
 		TTC
Toro Co.
3.72% of portfolio
 		JNJ
Johnson & Johnson
3.54% of portfolio
 		GIS
General Mills
3.47% of portfolio
 		GE
GE Aerospace
3.44% of portfolio
 		BAX
Baxter International Inc.
3.44% of portfolio
 		USB
U.S. Bancorp
3.37% of portfolio
 		PNR
Pentair plc
3.15% of portfolio
 		VAL-OLD
Valspar Corp.
3.08% of portfolio
 		GGG
Graco Inc.
3.04% of portfolio
 		HRL
Hormel Foods Corp.
2.92% of portfolio
 		FUL
H.B. Fuller Co.
2.80% of portfolio
 		STJ
St Jude Medical
2.49% of portfolio
2007   Q3$2.74 B EMR
Emerson Electric
4.94% of portfolio
 		MMM
3M Co.
4.79% of portfolio
 		MDT
Medtronic plc
4.54% of portfolio
 		TGT
Target Corp.
4.53% of portfolio
 		WFC
Wells Fargo
4.21% of portfolio
 		TTC
Toro Co.
3.76% of portfolio
 		ECL
Ecolab Inc.
3.66% of portfolio
 		GE
GE Aerospace
3.60% of portfolio
 		DCI
Donaldson Co.
3.56% of portfolio
 		VAL-OLD
Valspar Corp.
3.48% of portfolio
 		FUL
H.B. Fuller Co.
3.47% of portfolio
 		HON
Honeywell Int'l Inc.
3.44% of portfolio
 		GIS
General Mills
3.31% of portfolio
 		JNJ
Johnson & Johnson
3.27% of portfolio
 		USB
U.S. Bancorp
3.23% of portfolio
 		BAX
Baxter International Inc.
3.13% of portfolio
 		GGG
Graco Inc.
3.00% of portfolio
 		TCF
TCF Financial
2.94% of portfolio
 		PNR
Pentair plc
2.81% of portfolio
 		STJ
St Jude Medical
2.53% of portfolio
2007   Q2$2.73 B TGT
Target Corp.
4.54% of portfolio
 		MMM
3M Co.
4.45% of portfolio
 		EMR
Emerson Electric
4.35% of portfolio
 		MDT
Medtronic plc
4.18% of portfolio
 		WFC
Wells Fargo
4.18% of portfolio
 		TTC
Toro Co.
3.77% of portfolio
 		VAL-OLD
Valspar Corp.
3.64% of portfolio
 		FUL
H.B. Fuller Co.
3.56% of portfolio
 		HON
Honeywell Int'l Inc.
3.35% of portfolio
 		GIS
General Mills
3.34% of portfolio
 		GE
GE Aerospace
3.34% of portfolio
 		ECL
Ecolab Inc.
3.31% of portfolio
 		USB
U.S. Bancorp
3.28% of portfolio
 		PNR
Pentair plc
3.21% of portfolio
 		BAX
Baxter International Inc.
3.14% of portfolio
 		TCF
TCF Financial
3.12% of portfolio
 		GGG
Graco Inc.
3.09% of portfolio
 		JNJ
Johnson & Johnson
3.07% of portfolio
 		DCI
Donaldson Co.
3.03% of portfolio
 		BMS
Bemis Co.
2.68% of portfolio
2007   Q1$2.63 B TGT
Target Corp.
4.39% of portfolio
 		WFC
Wells Fargo
4.25% of portfolio
 		EMR
Emerson Electric
4.16% of portfolio
 		MDT
Medtronic plc
4.10% of portfolio
 		MMM
3M Co.
4.07% of portfolio
 		VAL-OLD
Valspar Corp.
3.70% of portfolio
 		USB
U.S. Bancorp
3.61% of portfolio
 		ECL
Ecolab Inc.
3.46% of portfolio
 		GIS
General Mills
3.45% of portfolio
 		FUL
H.B. Fuller Co.
3.44% of portfolio
 		TTC
Toro Co.
3.41% of portfolio
 		CEN-OLD
Ceridian Corp.
3.20% of portfolio
 		DCI
Donaldson Co.
3.18% of portfolio
 		GE
GE Aerospace
3.18% of portfolio
 		GGG
Graco Inc.
3.12% of portfolio
 		JNJ
Johnson & Johnson
3.11% of portfolio
 		BAX
Baxter International Inc.
3.08% of portfolio
 		TCF
TCF Financial
3.07% of portfolio
 		HON
Honeywell Int'l Inc.
2.99% of portfolio
 		BMS
Bemis Co.
2.80% of portfolio
2006   Q4$2.63 B WFC
Wells Fargo
4.39% of portfolio
 		MDT
Medtronic plc
4.37% of portfolio
 		EMR
Emerson Electric
4.26% of portfolio
 		TGT
Target Corp.
4.23% of portfolio
 		MMM
3M Co.
4.15% of portfolio
 		USB
U.S. Bancorp
3.74% of portfolio
 		VAL-OLD
Valspar Corp.
3.68% of portfolio
 		ECL
Ecolab Inc.
3.64% of portfolio
 		GIS
General Mills
3.42% of portfolio
 		JNJ
Johnson & Johnson
3.41% of portfolio
 		FUL
H.B. Fuller Co.
3.39% of portfolio
 		GE
GE Aerospace
3.35% of portfolio
 		TCF
TCF Financial
3.20% of portfolio
 		GGG
Graco Inc.
3.16% of portfolio
 		CEN-OLD
Ceridian Corp.
3.13% of portfolio
 		TTC
Toro Co.
3.10% of portfolio
 		DCI
Donaldson Co.
3.02% of portfolio
 		HON
Honeywell Int'l Inc.
2.94% of portfolio
 		BMS
Bemis Co.
2.85% of portfolio
 		BAX
Baxter International Inc.
2.72% of portfolio