Mairs & Power Inc.
Mairs & Power Inc. is an SEC-registered investment adviser headquartered in St. Paul, Minnesota, founded in 1931. The firm is 100% employee-owned and manages over $11.7 billion in assets (as of June 30, 2025) through individually managed accounts, three mutual funds, an ETF, and a venture capital arm. With 57 employees, including 14 CFA charterholders, Mairs & Power serves a wide client base including individual investors, pension funds, charitable foundations, and Taft-Hartley plans, primarily in the Upper Midwest but with a national presence. It is the oldest investment firm under continuous ownership in Minnesota.
Investment Strategy
Mairs & Power utilizes a disciplined, long-term investment approach with a strong regional focus, favoring companies headquartered in Minnesota and the Upper Midwest. The firm invests across market capitalizations and sectors, seeking high-quality companies with durable competitive advantages, excellent management teams, and attractive valuations. Their strategy emphasizes concentrated positions in businesses expected to deliver consistent, above-average growth, while prioritizing downside protection, minimizing taxes and expenses, and providing transparency. Community engagement and client service are also central to their philosophy.
Latest 13F Filing Activity
Mairs & Power Inc. filed their most recent 13F report on Jun 30, 2025 disclosing 234 equity positions with a total 13F market value of $10B. The fund increased holdings in Nvidia Corporation, Microsoft Corp., Meta Platforms Inc. among other positions. Mairs & Power Inc. reduced exposure to Unitedhealth Group Inc., Fiserv Inc., Apple Inc. among others.
Top Holdings
Equity Positions (234)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
M MSFT | MICROSOFT CORP | 9.84% | $997.2M | 2,004,808 | $136.59 | $497.41 | +$247.9M |
N NVDA | NVIDIA CORPORATION | 9.07% | $918.4M | 5,812,871 | $7.80 | $157.99 | +$289.6M |
A AMZN | AMAZON COM INC | 5.40% | $546.9M | 2,492,861 | $154.51 | $219.39 | +$90.7M |
J JPM | JPMORGAN CHASE & CO. | 4.30% | $435.1M | 1,500,966 | $118.36 | $289.91 | +$27.3M |
G GGG | GRACO INC | 3.37% | $341.9M | 3,976,890 | $22.27 | $85.97 | +$14.2M |
Industry Allocation
Investment Team (13)
| Name | Role | Location | |
|---|---|---|---|
 | Investment Manager | Burnsville, MN , United States | |
 | Vice President and Investment Manager | Saint Paul, MN , United States | |
G Glenn Johnson | Portfolio Manager | Saint Paul, MN , United States | |
 | Chairman and Investment Manager | Saint Paul, MN , United States | |
M Michelle Warren | Vice President and Investment Manager | Saint Paul, MN , United States | |
 | VP and Investment Manager, Co-Manager, Small Cap Fund | Saint Paul, MN , United States | |
 | Equity Research Associate | Minneapolis, MN , United States | |
 | Vice President, Investment Manager | Wayzata, MN , United States | |
 | Chief Investment Officer | United States | |
C Chad Kilmer | Vice President and Investment Manager | Saint Paul, MN , United States |
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