Andrew R. Adams, CFA, serves as Chief Investment Officer and Lead Manager of the Mairs & Power Growth Fund, having joined the firm in 2006 and assumed the CIO role in 2018, succeeding Mark L. Henneman. Adams began his investment career in 1997 and earned degrees from the University of Wisconsin, Madison, where he participated in the Applied Security Analysis Program. Under his leadership since 2015, the fund has maintained its disciplined long-term approach while gradually expanding beyond traditional regional boundaries. The fund is co-managed by Peter Johnson, CFA, and operates within Minnesota's oldest privately owned investment firm established in 1931. The management team oversees a concentrated portfolio of typically 40-50 holdings with exceptional low turnover rates reflecting their conviction-weighted, long-term investment philosophy.

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Mairs & Power employs a disciplined, long-term investment approach focused on companies rather than markets, with a regional emphasis on Minnesota and the Upper Midwest. The firm seeks companies that demonstrate consistent above-average growth, strong returns on invested capital, and durable competitive advantages, evaluated through proprietary analysis including Porter's Five Forces. The investment process emphasizes over 150 annual meetings with company management to build conviction, maintains low portfolio turnover typically less than 10%, and focuses on companies headquartered in a region the firm believes fosters high quality companies with excellent management teams. The fund objective is to provide shareholders with a diversified portfolio of common stocks with potential for above-average, long-term appreciation.

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