What Mairs & Power does

Mairs & Power, Inc. is a privately-held investment management firm founded in 1931 and headquartered in Minnesota (Saint Paul/Minneapolis). The firm manages two registered open-end mutual funds: the flagship Mairs & Power Fund (a large-cap equity strategy, renamed from the Mairs & Power Growth Fund on April 30, 2026 to comply with the updated SEC Names Rule) and the Mairs & Power Small Cap Fund (ticker MSCFX), a small-cap equity strategy. Both funds are actively managed using a disciplined, research-driven investment process, and recent quarterly commentary reports outperformance versus the Russell 2000 TR, S&P Small Cap 600 TR, S&P 500 TR, and the Morningstar Large Blend Index in Q1 2026.

The firm's revenue model is conventional for an active mutual fund manager: it earns management fees (expense ratios) calculated as a percentage of assets under management, though specific fee percentages are not disclosed in available sources. There is no disclosed AUM or revenue figure. Distribution is multi-channel: funds are available directly through the company's website and on major fund supermarket platforms including Schwab, Fidelity, and Vanguard, through registered investment advisor and broker-dealer networks, and via a direct institutional sales channel targeting pension funds, endowments, and foundations. Customer segments span individual retail investors (the primary segment, seeking retirement and taxable investment accounts) and institutional allocators (secondary segment, seeking alpha and benchmark outperformance).

Operationally, Mairs & Power is a small boutique with 11-50 employees, led by President and CEO Rob Mairs. The portfolio management team is in active succession planning, with Pete J. Johnson designated to become lead manager of the flagship fund on June 30, 2026, supported by co-managers Andrew R. Adams and Christopher D. Strom. The firm shows no evidence of acquisitions, fundraising, geographic expansion, product launches beyond its existing two funds, or material technology/AI investment; its strategic posture appears focused on maintaining its existing investment process, distribution footprint, and continuity of talent.

Name

Mairs & Power

Legal name

Mairs & Power, Inc.

Website

https://mairsandpower.com

Company type

Private

Founded year

1931

Operating status

Operating

Headcount range

11–50 employees

Short description

Mairs & Power, Inc. is a privately-held, Minnesota-based investment management firm founded in 1931 that actively manages two mutual funds — a large-cap flagship and a small-cap fund — distributed to individual and institutional investors through fund supermarkets, advisor networks, and direct sales.

Ownership category

akta.pro rank

Headquarters

HQ city

Saint Paul

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Distribution channels4 records

Marketing channels3 records

Core offering

Mairs & Power, Inc. is an investment management firm that manages two actively managed equity mutual funds: the flagship Mairs & Power Fund (large-cap, formerly Mairs & Power Growth Fund) and the Mairs & Power Small Cap Fund (MSCFX). The firm applies a disciplined, research-driven investment process focused on long-term capital appreciation across different market capitalizations.

Product overview

Mairs & Power, Inc. is an investment management firm offering two mutual funds: the flagship Mairs & Power Fund (renamed from Mairs & Power Growth Fund effective April 30, 2026) and the Mairs & Power Small Cap Fund (MSCFX). Both are traditional financial investment products managed through a disciplined investment process. The funds are actively managed equity portfolios focusing on different market capitalizations, with the flagship fund covering broader market exposure and the Small Cap Fund targeting smaller capitalization companies.

Differentiator

Problem solved

Functional benefit

Brands

• Mairs & Power Fund: Flagship mutual fund of Mairs & Power, Inc., a large-cap focused equity fund.
• Mairs & Power Small Cap Fund

Products and services

• Mairs & Power Fund Flagship actively managed equity mutual fund of Mairs & Power, Inc., focused on large-cap equities and managed through a disciplined, research-driven investment process for long-term capital appreciation.
• Mairs & Power Small Cap Fund (MSCFX) An actively managed small-cap equity mutual fund (ticker MSCFX) targeting smaller capitalization companies. Returned 3.75% in Q1 2026, outperforming the Russell 2000 Total Return Index (0.89%) and S&P Small Cap 600 TR (3.51%), with Information Technology contributing nearly 5% in relative outperformance.

Quantifiable outcome

• Mairs & Power Small Cap Fund returned 3.75% in Q1 2026, outperforming Russell 2000 Total Return Index at 0.89% and S&P Small Cap 600 TR at 3.51%
• +2 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Recent moves1 record

Expansion highlights3 records

Direct peers

• Ariel Investments: Independent boutique offering actively managed US equity mutual funds with retail and institutional reach. Comparable boutique scale, active equity focus, and dual-segment distribution.
• Westwood Holdings: Privately-held asset manager providing actively managed equity strategies to institutional and retail channels. Comparable boutique structure and active equity product offering.
• Needham Funds: Boutique manager offering small-cap growth and aggressive growth mutual funds. Directly comparable in fund category, active growth-tilted approach, and mid-sized boutique profile.
• Polen Capital: Boutique growth-equity manager offering mutual funds and SMAs to both retail and institutional clients. Comparable in growth-style focus, dual-channel distribution, and concentrated active equity philosophy.
• Royce Investment Partners: Specialist small-cap equity mutual fund manager with multiple small-cap strategies. Closely comparable to Mairs & Power's Small Cap Fund focus and active fundamental research orientation.
• Perritt Funds: Small boutique manager focused on micro-cap and small-cap value equity mutual funds. Comparable niche positioning and active management model for small-cap equity investors.
• Manning & Napier: Multi-cap actively managed mutual fund company with both retail and institutional distribution. Closely comparable to Mairs & Power's dual retail/institutional segment and fundamental bottom-up research process.
• Villere & Co. Family-owned boutique asset manager with multi-cap equity strategies. Comparable in ownership profile (private/independent), boutique scale, and long-term fundamental equity approach.
• Wasatch Advisors: Boutique Salt Lake City-based active manager specializing in small-cap and micro-cap equity mutual funds. Directly comparable to Mairs & Power in fund focus, boutique scale, and active research-driven investment process.

Broad incumbents

• Vanguard (active equity funds): Largest US fund complex with significant active equity mutual fund AUM. Indirectly comparable as a distribution platform and competitor; not boutique but serves overlapping investors through similar fund supermarket channels.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mairs & Power