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Mairs and Power

SEC-registered adviser since 1961ST. Paul, MNCRD 110351

$12.1B
AUM
773
Clients
See fees
Fee
25
Advisory staff

From Form ADV filed 20 April 2026 · data retrieved 15 October 2026SEC record

Mairs and Power is an investment adviser headquartered in ST. Paul, Minnesota, and registered with the SEC since 1961. Its clients include investment companies, high-net-worth individuals, and pension and profit-sharing plans. High-net-worth individuals account for 36% of its regulatory assets under management.

Its services include financial planning, portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions, and educational seminars. Fee arrangements include a percentage of assets under management, fixed fees and performance-based fees. Robert Mairs is CEO of Mairs and Power.

Clients

Mairs and Power serves 773 clients, 568 of them high-net-worth individuals. The average client has about $16 million with the firm, and high-net-worth clients hold 36% of its $12.1 billion in assets.

Regulatory assets by client type
  • High-net-worth individuals568 clients36%
  • Investment companies1 clients53%
  • Pension and profit-sharing plans20 clients4%
  • Charitable organizations38 clients3%
  • OtherIndividuals, Pooled investment vehicles, State or municipal government entities, Insurance companies, Corporations and other businesses3%
Show client breakdown
Individuals (other than HNW)
Clients
138
Regulatory AUM
$64,901,082
Share
0.5%
Avg. per client
$470K
High-net-worth individuals
Clients
568
Regulatory AUM
$4,384,811,986
Share
36.1%
Avg. per client
$7.72M
Investment companies
Clients
1
Regulatory AUM
$6,476,577,277
Share
53.3%
Avg. per client
$6.48B
Pooled investment vehicles
Clients
2
Regulatory AUM
$59,280,000
Share
0.5%
Avg. per client
$29.6M
Pension and profit-sharing plans
Clients
20
Regulatory AUM
$492,118,202
Share
4.1%
Avg. per client
$24.6M
Charitable organizations
Clients
38
Regulatory AUM
$412,921,247
Share
3.4%
Avg. per client
$10.9M
State or municipal government entities
Clients
Not reported
Regulatory AUM
$11,610,589
Share
0.1%
Avg. per client
—
Insurance companies
Clients
Not reported
Regulatory AUM
$168,879,545
Share
1.4%
Avg. per client
—
Corporations and other businesses
Clients
6
Regulatory AUM
$73,216,276
Share
0.6%
Avg. per client
$12.2M

Total

Clients
773
Regulatory AUM
$12,144,316,204
Share
100%
Avg. per client
$15.7M

What it does

Mairs and Power provides financial planning, portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions and educational seminars. It is paid through a percentage of assets, fixed fees and performance-based fees.

Mairs and Power provided financial planning to 51–100 clients last fiscal year and advises 2 private funds.

98.7% of assets ($11.99B across 1,678 accounts) are managed with discretion; $157.3M across 47 accounts are not. $5.45M sits in a wrap fee program the firm both sponsors and manages. 1% of clients are outside the U.S., and 0 clients received advice without assets under management last fiscal year.

What the accounts hold

Separately managed account assets by class, year end
  • Stocks78%
  • Funds3%
    • Registered funds2%
    • Pooled vehicles1%
  • Bonds14%
    • Investment grade corporate bonds10%
    • State and local bonds3%
    • U.S. government and agency bonds1%
  • Cash5%

Custodians

Mairs and Power’s client accounts are held mainly at Charles Schwab, with 30% of managed assets, and SEI Investments Distribution, with 5%. Mairs and Power has custody of $1.03B for 445 clients.

Managed account assets by custodian
  • SEI Investments DistributionSEI Investments Distribution Co. · Oaks, PA · $631.2M5%
  • Charles SchwabCharles Schwab & Co., Inc. · West Lake, TX · $3.67B30%
  • All other custodians$7.85B65%

Ownership and leadership

Robert Mairs is CEO of Mairs and Power.

Who owns the firm
Mairs and Power Inc· the adviser

  • Robert Mairs

    Control person · since September 2015

    Owns 10% to 25% of Mairs and Power Inc

  • Justin Miller

    Control person · since February 2015

    Owns 10% to 25% of Mairs and Power Inc

  • Andrew Adams

    Control person · since May 2006

    Owns 5% to 10% of Mairs and Power Inc

  • Kevin Earley

    Control person · since April 2013

    Owns 5% to 10% of Mairs and Power Inc

  • Peter Johnson

    Control person · since June 2010

    Owns 5% to 10% of Mairs and Power Inc

  • Melissa Gilbertson

    Control person · since April 2022

    Owns 5% to 10% of Mairs and Power Inc

  • Christopher Strom

    since December 2022

    Owns 5% to 10% of Mairs and Power Inc

  • Michelle Warren

    Control person · since October 2016

    Owns 5% to 10% of Mairs and Power Inc

  • Brent Miller

    Control person · since January 2024

    Owns 5% to 10% of Mairs and Power Inc

  • Michael Marzolf

    since December 2021

    Owns 5% to 10% of Mairs and Power Inc

Leadership

  • Robert Mairs
    Chief Executive Officer, Chair and Director
  • Andrew Adams
    Chief Investment Officer, Executive Vice President and Director
  • Kevin Earley
    Vice President, Investment Manager, and Director
  • Peter Johnson
    Vice President and Investment Manager and Director
  • Michael Marzolf
    Vice President, Investment
  • Justin Miller
    Vice President and Head of Individually Managed Accounts & Director
  • Brent Miller
    Vice President, Investment Manager, and Director
  • Christopher Strom
    Vice President, Investment Manager and Director
  • Michelle Warren
    Vice President, Investment Manager and Director
  • Melissa Gilbertson
    Chief Operating Officer , Secretary and Director
  • Brent Williams
    Chief Compliance Officer
  • Luke Odegaard
    Treasurer

Staff

  • 60 employees
  • 25 in advisory functions
  • 17 state-registered reps
  • 6 broker-dealer reps
  • 1 insurance agent

Reported holdings

Mairs and Power’s reported 13F holdings total $10.90B across 254 positions, and the ten largest make up 44.3% of it.

$10.90B
Reported 13F value
254
Positions
44.3%
In the 10 largest
+11.4%
Value vs. prior quarter
Ten largest positions, share of reported value
  1. Nvidia Corporation8.6%
  2. Microsoft Corp.6.7%
  3. Amazon Com Inc.5.7%
  4. Alphabet Inc. · Cap Stk CL C5.5%
  5. Eli Lilly & CO3.5%
  6. Nvent Elec PLC3.2%
  7. Apple Inc.3.0%
  8. JPMORGAN Chase & CO2.8%
  9. Visa Inc. · Com CL A2.7%
  10. Graco Inc.2.6%

Together, the ten largest are 44.3% of reported value.

The 50 largest positions and quarterly changesQuarter ended 30 June 2026 · filed 14 August 2026

A 13F covers only exchange-traded long positions the firm holds with discretion, so this $10.90B is not its $12.14B in regulatory assets and does not represent any individual client's portfolio.

Fees

Mairs and Power is paid through a percentage of assets under management, fixed fees (other than subscription fees) and performance-based fees.

Mairs and Power’s fee rates are not included in this profile. Find its brochure on the SEC’s site.

Offices and registrations

Besides its headquarters, Mairs and Power has 0 offices, with 1 listed address in 1 state.

Listed office addresses by state

Minnesota · 1 listed address

  • 30 E 7th Street, Suite 2500, ST. PaulHQ

Other business names

Mairs and Power has reported 2 other business names to the SEC.

  • Mairs & Power
  • Mairs & Power Venture Capital

Registration details

Legal name
Mairs and Power Inc
Headquarters
30 E 7th Street, Suite 2500, ST. Paul, MN 55101-1363
Phone
651-222-8478
Website
www.mairsandpower.com
SEC file
801-2731
Structure
Minnesota corporation
Fiscal year end
December

This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov

Common questions

How many clients does Mairs and Power have?

Mairs and Power has 773 clients and manages $12.1 billion for them, as of April 2026. They include 568 high-net-worth individuals, 138 other individuals and 38 charitable organizations.

Source: Form ADV Part 1A, Items 5.D and 5.F, filed 20 April 2026

What services does Mairs and Power offer?

Mairs and Power provides financial planning, portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions and educational seminars.

Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file

Which custodians does Mairs and Power use?

Mairs and Power’s separately managed account assets are held at Charles Schwab & Co., Inc. (West Lake, TX), with $3,665,334,359 and SEI Investments Distribution Co. (Oaks, PA), with $631,234,495. Only custodians holding at least a tenth of those assets are named.

Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 20 April 2026

How many financial advisors does Mairs and Power have?

Mairs and Power has 17 investment adviser representatives registered with state securities authorities, out of 60 employees, and 25 perform investment advisory functions. 6 are registered representatives of a broker-dealer and 1 are licensed insurance agents.

Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file

What does Mairs and Power invest in?

At the end of its last fiscal year, Mairs and Power’s separately managed accounts held 78% exchange-traded equities, 10% investment grade corporate bonds, 5% cash and equivalents, 3% state and local bonds, 2% registered funds (mutual funds, ETFs, BDCs), 1% U.S. government and agency bonds and 1% pooled vehicles (private funds and similar). It advises 2 private funds.

Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file

Who owns Mairs and Power?

Mairs and Power’s direct owners are Andrew Adams, Robert Mairs, Kevin Earley, Peter Johnson, Justin Miller, Melissa Gilbertson, Christopher Strom, Michelle Warren, Brent Miller and Michael Marzolf, each holding 25% or less.

Source: Form ADV Part 1A, Schedules A and B, filed 20 April 2026

How does Mairs and Power get paid?

Mairs and Power is paid through a percentage of assets under management, fixed fees and performance-based fees. Its Form ADV lists no commissions among how it is paid.

Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file

Sources

  1. Form ADV Part 1A, amendment filed 20 April 2026. Items 1, 5, 9, 11 and Schedules A, B and D.
  2. IAPD firm record, CRD 110351.
  3. Form 13F-HR, filed 14 August 2026 for the quarter ended 30 June 2026.

Retrieved 15 October 2026. All are published by the SEC and may have been amended since.

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This profile is compiled from public regulatory filings and is provided for informational purposes only. Niva Wealth is not affiliated with Mairs and Power Inc and makes no representation about the quality of its services. Figures reflect the filing dates shown and may have changed. Ownership percentages are the bands reported to the SEC, not exact figures.