Our friend, partner and colleague Allen Steinkopf passed away on December 21, 2022. Allen played a large role in the success of Mairs & Power over the nine years he was here. From leading the Mairs & Power Small Cap Fund (MSCFX), managing advisory accounts, providing research and insightful opinions on companies, he put research and investment management at the center of his professional contributions. Andy Adams, CIO and mentee of Al said it best,

He taught me, challenged me, inspired me, and made work not work. He loved investing, and as everyone that worked with him knows, his passion was infectious. I loved spending time in his office just bouncing ideas back and forth with him. I was delighted we were able to bring him to Mairs & Power, and he was clearly all-in when it came to Mairs & Power and doing everything he could to help our clients, shareholders and everyone he worked with.”

Allen brought so much more to us than his keen intellect and thoughtful analysis. He was passionate about coaching and mentoring people to enable them to believe in themselves. He touched people's hearts and changed their lives. He is survived by many family and friends. Please keep them in your thoughts and prayers as they navigate through this tremendous loss.

As part of planning for his retirement at the end of 2023, Allen had been working with backup investment managers for his separately managed accounts and sharing coverage of the companies he follows with the other 13 investment professionals who are on the investment committee. Since 2019, we have strengthened the bench of the Small Cap team by bringing on Chris Strom and Mike Marzolf to join Andy Adams, lead manager of the Small Cap Fund. Chris joined the firm in 2017 and officially joined the Small Cap team in 2021. Mike Marzolf, a seasoned professional with over 30 years of investment experience, joined the firm and Small Cap team in 2022. Andy Adams will continue in his capacity as CIO and lead manager of the Small Cap Fund.

Allen will be greatly missed by all of us who had the privilege of working with him.

Click Here to view Allen's obituary.