Beginning with the backdrop of the Great Depression, Mairs & Power at 90 unfolds the improbable journey of the oldest continuously independent investment management firm in Minnesota and the historical context throughout the firm’s history.

Mairs & Power entered the venture capital space, investing primarily in seed and early-stage funding rounds for companies located in the Upper Midwest.

The Minnesota Municipal Bond ETF, MINN, is Mairs & Power's first exchange traded fund and the first actively-traded ETF comprised solely of MInnesota Muni Bonds.

From its humble beginnings of $100,000 in 1958, MPGFX reaches $3B AUM.

Mary joins the Mairs & Power Mutual Funds Board of Trustees as the first woman trustee and was named Chair of the Board in 2018.

"The key is for us to continue to build on the legacy that has been entrusted to us and to always do what is in the best interest of our clients, employees and community. We believe that we'll be doing that well into the second 100 years of Mairs & Power's history."

Mark Henneman, Chair Emeritus

From its humble beginnings of $100,000 in 1958, MPGFX reached $1B AUM.

Press coverage highlighted Mairs & Power's distinct regional style providing visibility that led to significant growth.

With six employees, three investment professionals and three support staff, and registered in MN, WI, and PA, the firm reaches the $100M AUM milestone.

A large, local Taft Hartley Pension Plan Fund first invests with us, starting a relationship that still continues today.

Morningstar names Mark Henneman and Bill Frels as Domestic Stock Manager of the Year

A third mutual fund, the Mairs & Power Small Cap Fund, was launched in 2011.

Mark has worked closely with senior management leadership since his arrival to ensure the firm's investment philosophy and process remained consistent and repeatable. He was named President & CIO in 2014, Chairman and CEO in 2017. Mark stepped down as CEO in 2024.

From its humble beginnings of $100,000 in 1958, MPGFX reached $100M AUM.

Business grew rapidly under the strong leadership of George and Bill, who built a significant institutional businesss. Bill stepped down as CEO in 2012 and retired in 2015.

Mairs & Power Income Fund, later renamed Balanced Fund launched, also among the first 100 such funds in the U.S.

To be accessible to small investors, Mairs & Power Fund was launched, later renamed Growth Fund. It was among the first 100 such funds in the U.S.

Mairs’ son George joined the firm. He attended Yale and Macalester College, where he received his degree. Although he retired in 2009, he remained on the Investment Committee until his death in mid-2010.

George joined the firm, which later added his name to the partnership. He evidenced one of our hallmarks by "putting clients first and going the extra mile to serve our clients." He was active in the firm until his death in 1995.

A St. Paul native, George founded the firm at age 28, following the sale of the family store and the Great Depression's toll. He retired in 1975.

His legacy has perpetuated for nearly 100 years.