N-Q 1 a05-20118_1nq.htm QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

 

FORM N-Q

 

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

 

Investment Company Act file number

811-00802

 

 

Mairs and Power Growth Fund, Inc.

(Exact name of registrant as specified in charter)

 

332 Minnesota Street, Suite W1520, St. Paul, MN

 

55101

(Address of principal executive offices)

 

(Zip code)

 

William B. Frels, President, 332 Minnesota Street, Suite W1520, St. Paul, MN  55101

(Name and address of agent for service)

 

Registrant's telephone number, including area code:

651-222-8478

 

 

Date of fiscal year end:

12/31/2005

 

 

 

 

Date of reporting period:

09/30/05

 

 



 

Item 1.                                          Schedule of Investments.

 



 

Schedule of Investments (unaudited)    September 30, 2005

 

Number of Shares
 
 
 
Market Value
 

 

 

COMMON STOCKS 97.0%

 

 

 

 

 

BASIC INDUSTRIES 11.2%

 

 

 

2,219,000

 

Bemis Company, Inc.

 

$

54,809,300

 

2,370,000

 

Ecolab Inc.

 

75,674,100

 

2,020,000

 

H. B. Fuller Company

 

62,781,600

 

3,450,000

 

The Valspar Corporation

 

77,142,000

 

 

 

 

 

270,407,000

 

 

 

CAPITAL GOODS 11.1%

 

 

 

2,360,000

 

Donaldson Company, Inc.

 

72,050,800

 

2,275,000

 

Graco Inc.

 

77,987,000

 

1,290,000

 

MTS Systems Corporation

 

48,723,300

 

1,920,000

 

Pentair, Inc.

 

70,080,000

 

 

 

 

 

268,841,100

 

 

 

CONSUMER CYCLICAL 8.5%

 

 

 

1,250,000

 

Briggs & Stratton Corporation

 

43,237,500

 

1,880,000

 

Target Corporation

 

97,628,400

 

1,735,200

 

The Toro Company

 

63,785,952

 

 

 

 

 

204,651,852

 

 

 

CONSUMER STAPLE 8.9%

 

 

 

1,560,000

 

General Mills, Inc.

 

75,192,000

 

2,040,000

 

Hormel Foods Corporation

 

67,299,600

 

2,350,000

 

SUPERVALU Inc.

 

73,132,000

 

 

 

 

 

215,623,600

 

 

 

DIVERSIFIED 7.0%

 

 

 

2,210,000

 

General Electric Company

 

74,410,700

 

1,290,000

 

3M Company

 

94,634,400

 

 

 

 

 

169,045,100

 

 

 

FINANCIAL 17.2%

 

 

 

1,220,000

 

Associated Banc-Corp.

 

37,185,600

 

625,000

 

MoneyGram International Inc.

 

13,568,750

 

960,000

 

Principal Financial Group, Inc.

 

45,475,200

 

1,100,000

 

The St. Paul Travelers Companies, Inc.

 

49,357,000

 

3,090,000

 

TCF Financial Corporation

 

82,657,500

 

2,870,000

 

U.S. Bancorp

 

80,589,600

 

1,840,000

 

Wells Fargo & Company

 

107,768,800

 

 

 

 

 

416,602,450

 

 

 

HEALTH CARE 18.8%

 

 

 

1,550,000

 

Baxter International Inc.

 

61,798,500

 

1,220,000

 

Johnson & Johnson

 

77,201,600

 

1,830,000

 

Medtronic, Inc.

 

98,124,600

 

600,000

 

Merck & Co., Inc.

 

16,326,000

 

2,480,000

 

Pfizer Inc.

 

61,925,600

 

1,600,000

 

St. Jude Medical, Inc. *

 

74,880,000

 

600,000

 

SurModics, Inc. *

 

23,214,000

 

715,500

 

Techne Corporation *

 

40,769,190

 

 

 

 

 

454,239,490

 

 



 

Number of Shares
 
 
 
Market Value
 

 

 

COMMON STOCKS (continued)

 

 

 

 

 

TECHNOLOGY 13.6%

 

 

 

960,000

 

ADC Telecommunications, Inc. *

 

$

21,945,600

 

2,940,000

 

Ceridian Corporation *

 

61,005,000

 

1,280,000

 

Corning Incorporated *

 

24,742,400

 

1,287,030

 

eFunds Corporation *

 

24,234,775

 

1,290,000

 

Emerson Electric Co.

 

92,622,000

 

1,590,000

 

Honeywell International Inc.

 

59,625,000

 

1,850,000

 

Intel Corporation

 

45,602,500

 

 

 

 

 

329,777,275

 

 

 

UTILITIES 0.7%

 

 

 

500,000

 

Verizon Communications Inc.

 

16,345,000

 

 

 

TOTAL COMMON STOCKS

 

2,345,532,867

 

 

 

 

 

 

 

PAR/Shares

 

 

 

 

 

 

 

SHORT-TERM INVESTMENTS 2.9%

 

 

 

10,000,000

 

Cargill Commercial Paper 3.61%, 10/03/05

 

9,997,994

 

10,000,000

 

Citigroup Global Commercial Paper 3.66%, 10/17/05

 

9,983,778

 

9,730,581

 

First American Prime Obligation Fund, Class I

 

9,730,581

 

10,968,685

 

Merrill Lynch Premier Institutional Money Market Fund

 

10,968,685

 

10,000,000

 

Morgan Stanley Commercial Paper, 3.79%, 10/06/05

 

9,994,736

 

20,000,000

 

UBS Finance Commercial Paper 3.76%, 10/05/05

 

19,991,644

 

 

 

 

 

 

 

 

 

TOTAL SHORT-TERM INVESTMENTS

 

70,667,418

 

 

 

 

 

 

 

 

 

TOTAL INVESTMENTS 99.9%

 

2,416,200,285

 

 

 

 

 

 

 

 

 

OTHER ASSETS AND LIABILITIES (NET) 0.1%

 

1,787,287

 

 

 

 

 

 

 

 

 

TOTAL NET ASSETS 100%

 

$

2,417,987,572

 

 


*Non-income producing

 

The financial information in the Schedule of Investments and the financial statements on the following page have not been audited by our independent registered public accounting firm who do not express an opinion thereon.  The financial statements of the Fund will be subject to audit by our independent registered public accounting firm as of the close of the calendar year.

 


 


 

Item 2.              Controls and Procedures.

 

a)             The registrant’s principal executive officer and principal financial officer have evaluated the registrant’s disclosure controls and procedures as of a date within 90 days of the filing date of this report and have concluded that the registrant’s disclosure controls and procedures were effective, as of that date, in ensuring that information required to be disclosed by the registrant in this Form N-Q was recorded, processed, summarized and reported within the time period specified by the SEC’s rules and forms.

 

b)            There was no change in the registrant’s internal control over financial reporting that occurred during the registrant’s last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

 

Item 3.              Exhibits

 

(a)     Certifications required by Rule 30a-2(a) under the Investment Company Act of 1940.

 

Attached as exhibits 3(a).1 and 3(a).2 to this form.

 


 


 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

(Registrant)

Mairs and Power Growth Fund, Inc.

 

 

 

By (Signature and Title)

 

 

*

/s/ William B. Frels

 

 

William B. Frels, President

 

Date

11/29/05

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

 

By (Signature and Title)

 

*

/s/ William B. Frels

 

 

William B. Frels, President
(principal executive officer)

 

 

Date

11/29/05

 

 

 

By (Signature and Title)

 

 

*

/s/ Lisa J. Hartzell

 

 

Lisa J. Hartzell, Treasurer

 

(principal financial officer)

 

Date

11/29/05

 

 


*  Print the name and title of each signing officer under his or her signature.