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FUND MANAGERS

Andrew R. Adams, CFA

CIO, Lead Manager

Pete J. Johnson, CFA 

Co-Manager

Inception 1958: MPGFX

Mairs & Power
Growth Fund

  • Regional emphasis
  • Multi-cap
  • Access to a portfolio of companies that exhibit
    • - Consistent, above-average growth potential
    • - Durable competitive advantages
    • - Reasonable valuations
  • Low expense ratio
  • Low turnover, tax efficient 
  • No load1

Resources

Explore the Growth Fund

PERFORMANCE & NAV

Average Annualized Returns (%)

As of 09/30/2024

Inception 11/7/1958

FUND/INDEX 1 YR 5 YR 10 YR 20 YR 25 YR SINCE INCEPTION
Mairs & Power Growth Fund2 35.4614.4711.9010.3210.5111.52
S&P 500 TR Index3 36.3515.9813.3810.718.2010.63
Morningstar Large Blend Category4 32.4513.5111.089.146.49-

Calendar Year Returns (%)

FUND/INDEX20232022202120202019201820172016201520142013201220112010200920082007200620052004
Mairs & Power Growth Fund2 27.70-21.0729.2716.6728.39-4.3416.5215.38-3.078.1235.6421.910.7417.4022.52-28.514.9010.244.4017.99
S&P 500 TR Index3 26.29-18.1128.7118.4031.49-4.3821.8311.961.3813.6932.3916.002.1115.0626.46-37.005.4915.804.9010.88
As of 12/04/2024: NAV - Daily Closing Price
Growth Fund MPGFX$184.61
As of 4/30/2024 Prospectus Expense Ratio
0.64% annualized as of 12/31/23

Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance of the Fund may be lower or higher than the performance quoted. Performance as of the most recent month end is available by calling 800-304-7404.

2Performance shown includes the reinvestment of dividend and capital gain distributions, but does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.

Index Definitions

Mairs & Power Growth Fund Has Out-Performed 4 of the Last 6 Full Economic Cycles

When Mairs & Power talks about the advantages of holding through a “full economic market cycle,” we are referring to the business cycle fluctuation between contraction and expansion, also called recession and recovery. Investors who enjoy growth opportunities during times of expansion must consider and prepare for times when the economy inevitably contracts. Mairs & Power’s portfolios are designed with the intent to help preserve capital over full cycles.

The periods in this chart are called “trough to trough.” The beginning point of each period marks the start of a recovery following a recession. During the period, a “peak” is reached and then another contraction begins. The end of the period marks the low point prior to the next recovery starting, and is also referred to as a “trough.”

A recessionary period is a period of significant decline in widespread economic activity spread lasting more than a few months, normally visible in real GDP (Gross Domestic Product), real income, employment, industrial production and wholesale-retail sales.

PERFORMANCE OVER ECONOMIC CYCLES, ANNUALIZED TOTAL RETURNS %: 1975-2022

FULL ECONOMIC CYCLES

CURRENT CYCLE (INCOMPLETE)

COMBINED PERIOD

FUND/INDEXES

  • Mairs & Power Growth Fund
  • S&P 500 TR Index3
  • Lipper Multi-Cap Core Funds Index11
PERIOD DATE RANGE
Per. 1 3/31/1975 - 7/31/1980
Per. 2 7/31/1980 - 11/30/1982
Per. 3 11/30/1982 - 3/29/1991
Per. 4 3/29/1991 - 11/30/2001
Per. 5 11/30/2001 - 6/30/2009
Per. 6 6/30/2009 - 4/30/2020
Current 4/30/2020 - 9/30/2024
Combined 3/31/1975 - 9/30/2024

The information shown is only for the time periods indicated. Performance for other periods may differ, possibly significantly.

MORNINGSTAR RATINGS & RANKINGS

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ANALYST RATING
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As of 9/30/2024 among Large Blend Funds based on risk-adjusted Returns.
OVERALL 1 YR 3 YR 5 YR 10 YR Since Inception
Star Rating 3star - 3star 3star 3star -
Funds in Category 1292-12921185893
Percentile Rank -3964575612
Funds in Category -141413111232105869
Inception 11/7/1958

FUND FACTS

As of 9/30/2024:
TickerMPGFX
Inception Date 11/1/1958
Style Large Blend
Holdings47
Annualized Turnover5 13.45
Expense Ratio 0.64%
Active Share6 72.93%
Sharpe Ratio7 0.41
Net Asset Value8 $174.36
Wtd. Ave. Market Cap9 $953B
30-Day SEC Yield10 0.82%
Total Net Assets $5.7B
Sales Charge1 None
Min. Initial Investment $2,500
Min. Initial IRA Investment $1,000
Subsequent Investment $100
Income Distributions Semi-annual
Capital Gains Distributions Annual

OBJECTIVE & STRATEGY

To provide a diversified portfolio of common stocks, which have the potential for above-average, long-term appreciation.

  • Commits to long-term investing in consistently growing companies with minimal turnover
  • Emphasis on companies in Minnesota and the Upper Midwest
  • Invests in companies of all capitalization sizes, recognizing that smaller companies may provide somewhat higher returns over longer time frames, some emphasis is placed on small to medium sized companies
  • Identifies companies exhibiting the potential for strong returns on invested capital and consistent, above-average growth and durable competitive advantages
  • Considers the importance of capable management with a track record of prudent capital deployment
  • Seeks to keep assets reasonably fully invested, maintain modest portfolio turnover rates and mitigate risk by investing in a diversified portfolio of securities

PORTFOLIO CHARACTERISTICS

As of 9/30/2024:
SECTOR WEIGHTS % PORTFOLIO
Information Technology 30.6
Financials15.4
Health Care 15.2
Industrials13.7
Consumer Discretionary 7.0
Communication Services 7.0
Materials4.9
Utilities3.1
Consumer Staples 2.8
0.0
0.0
Total99.7
TOP 10 HOLDINGS % PORTFOLIO
Microsoft Corp. 9.9
NVIDIA Corp. 7.5
UnitedHealth Group, Inc. 5.8
Amazon.com, Inc. 5.5
JPMorgan Chase & Co. 4.7
Apple, Inc. 4.0
Alphabet, Inc. 4.0
Graco, Inc. 3.2
Alliant Energy Corp. 3.1
Fiserv, Inc. 3.1

Holdings in the portfolio are subject to change without notice and may or may not represent current or future portfolio composition. The mention of specific securities is not intended as a recommendation or an offer of a particular security nor is it intended to be a solicitation for the purchase or sale of any security.

Sector Allocation

See Legend Above.

Market Cap Allocation

Large Cap 90.0%
Mid Cap 9.0%
Small Cap 1.0%

Geographic Allocation

Minnesota 31.0%
Upper Midwest 15.0%
Other 54.0%

Asset Allocation

Common Stock 99.7%
Cash 0.3%

DISTRIBUTION HISTORY

The Mairs & Power Growth Fund declares and pays dividend income semi-annually, in June and December. If any capital gains are realized during the year, the Fund will distribute the net gains in December toward the end of the month. 

RECORD DATE EX-DIVIDEND PAYABLE/REINVEST
DATE
REINVEST NAV DIVIDEND PER SHARE SHORT-TERM CAPITAL
GAINS
LONG-TERM CAPITAL
GAINS
6/26/20246/27/2024 $167.90 $0.74 --
12/14/202312/15/2023$145.13 $0.67 -$2.22

ADDITIONAL RESOURCES

How to Invest
Mutual Funds

Existing shareholders: You can add to your current investment or open a new account in any of the Mairs & Power mutual funds by logging in to My Fund Account, calling Shareholder Services at 800-304-7404, or mailing your application and investment to the addresses below.

New investors working with financial advisors:  Your financial advisor can open an account for you on most platforms.

New direct investors: You can open a new account by

  • Going Online 
  • Calling Shareholder Services at 800-304-7404, or
  • Completing the appropriate application and mailing it with your check to: 


For regular mail delivery:

U.S. Bank Global Fund Services

P.O. Box 701

Milwaukee, WI 53201-0701


For express and overnight mail delivery:

U.S. Bank Global Fund Services

3rd Floor

615 East Michigan Street

Milwaukee, WI 53202

MUTUAL FUNDS MINIMUM INVESTMENT AMOUNTS
New account $2,500
Subsequent investments $100
New IRA account $1,000
Subsequent IRA investments $100

MUTUAL FUND QUESTIONS?

We’re here to help you with all your account opening or servicing questions.

Please call 800-304-7404

Exchange Traded Fund | ETF

Talk with your financial planner or brokerage firm to purchase the Mairs & Power Minnesota Municipal Bond ETF. Shares can also be purchased through an online brokerage firm.

ETF QUESTIONS?

Investing questions should be directed to your financial advisor or online brokerage. Learn more about the Minnesota Municipal Bond ETF by calling 855-839-2800 or emailing us at MINN@mairsandpower.com.

FUND DOCUMENTS

APPLICATIONS / MAINTENANCE

RESOURCES

REPORTS