Mairs & Power
Mairs & Power is one of the oldest independent investment managers in the United States, founded in St. Paul, Minnesota in 1931. The firm is known for its extraordinarily low portfolio turnover — often holding individual positions for a decade or more — and its emphasis on Midwest-headquartered companies that it knows particularly well due to geographic proximity. This regional knowledge edge, combined with patient fundamental analysis, has produced a strong long-term track record across economic cycles.
The firm manages the Mairs & Power Growth Fund, which is among the longest-running equity mutual funds in the country. Its investment philosophy centers on companies with durable competitive advantages, strong management teams, and the ability to compound capital over very long time horizons. Mairs & Power has historically been concentrated in healthcare, financial services, and industrial companies headquartered in the Upper Midwest, including names like 3M, US Bancorp, Ecolab, and Medtronic.
We invest for the long term. This means we look for companies that will be stronger in five to ten years than they are today, and we are willing to hold through short-term volatility to capture that long-term value.
— Mairs & Power, Mairs & Power