# Mairs & Power

> Mairs & Power is an SEC-registered investment advisory firm in St. Paul, MN, registered since 1961, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated April 20, 2026.

- CRD: 110351
- Filed as: MAIRS & POWER
- Legal name: Mairs and Power Inc
- Also doing business as: MAIRS & POWER, MAIRS & POWER VENTURE CAPITAL
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: St. Paul, MN
- Filing period: October 2026
- Form ADV filing dated: April 20, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/110351
- AdvisorCensus page: https://advisorcensus.com/firm/mairs-and-power-st-paul-mn-110351

## Quick answers

**How is Mairs & Power compensated?**
On its Form ADV (Item 5.E, October 2026), Mairs & Power reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees); performance-based fees.

**Where is Mairs & Power located?**
Mairs & Power's principal office is in St. Paul, MN, according to its Form ADV.

**Is Mairs & Power registered with the SEC or a state?**
Mairs & Power is an SEC-registered investment advisory firm, registered since 1961. Status as filed: Approved. CRD 110351.

**How much does Mairs & Power manage?**
Mairs & Power reports $12,144,316,204 in regulatory assets under management in its Form ADV filing dated April 20, 2026 (99% discretionary).

**How have Mairs & Power's assets and staff changed since 2021?**
In the Form ADV data for Mairs & Power: Regulatory assets under management: $10,393,914,339 in the October 2021 data and $12,144,316,204 in the October 2026 data, up 17%. Total employees: 44 in October 2021 and 60 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Mairs & Power serve?**
By number of clients on Form ADV Item 5.D: high net worth individuals (568); individuals (other than high net worth individuals) (138); charitable organizations (38).

**Which custodians does Mairs & Power use?**
Mairs & Power's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. and SEI Investments Distribution Co. as custodians holding 10% or more of its separately managed account assets.

**Does Mairs & Power report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/110351

**Does Mairs & Power state an account minimum?**
Its Form ADV Part 2A brochure dated March 21, 2026 says: "The minimum account size for clients seeking advisory services is $2,000,000. We may aggregate related accounts for the purpose of determining whether the account size minimum has been met and may otherwise waive the minimum in our sole discretion."

**What changed in Mairs & Power's recent Form ADV filings?**
In the May 2026 filing data: Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Fixed fees (other than subscription fees)
- Performance-based fees

### Fees and minimums (Form ADV Part 2A brochure dated March 21, 2026)

- Account minimum: $2,000,000 (the brochure says it may be waived or negotiated)

> The minimum account size for clients seeking advisory services is $2,000,000. We may aggregate related accounts for the purpose of determining whether the account size minimum has been met and may otherwise waive the minimum in our sole discretion.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.
- SEI Investments Distribution Co.

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $12,144,316,204
- Discretionary: $11,986,999,686
- Non-discretionary: $157,316,518

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 138 | $64,901,082 |
| High net worth individuals | 568 | $4,384,811,986 |
| Investment companies | 1 | $6,476,577,277 |
| Pooled investment vehicles (other than investment companies and business development companies) | 2 | $59,280,000 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 20 | $492,118,202 |
| Charitable organizations | 38 | $412,921,247 |
| State or municipal government entities (including government pension plans) | Fewer than 5 | $11,610,589 |
| Insurance companies | Fewer than 5 | $168,879,545 |
| Corporations or other businesses not listed above | 6 | $73,216,276 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Portfolio management for investment companies (and business development companies)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients
- Educational seminars/workshops

### Firm details
- Registered since: 1961 (64 years)
- Employees: 60 total, 25 performing advisory functions
- Wrap fee program participation: Yes
- States registered or notice-filed: AZ, CA, CO, FL, IA, IL, LA, MA, MN, NH, NY, PA, SD, TX, VA, WA, WI
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- [mairsandpower.com](https://mairsandpower.com)
- [mairsandpower.vc](https://mairsandpower.vc)
- LinkedIn @mairs-power-inc
- LinkedIn @mpvc

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $10,393,914,339 | 44 | August 6, 2021 |
| October 2022 | $12,437,763,271 | 46 | May 6, 2022 |
| October 2023 | $9,716,400,716 | 44 | March 31, 2023 |
| October 2024 | $10,955,173,825 | 50 | March 28, 2024 |
| October 2025 | $11,977,257,704 | 56 | March 31, 2025 |
| October 2026 | $12,144,316,204 | 60 | April 20, 2026 |

Regulatory assets under management: $10,393,914,339 in the October 2021 data and $12,144,316,204 in the October 2026 data, up 17%.
Total employees: 44 in October 2021 and 60 in October 2026.

## Changes in the filing (last 12 months)

### May 2026
- Updated its list of owners and control persons (Schedule A).

### April 2026
- Employees performing advisory functions went from 27 to 25.
- Registered or notice-filed in IA, VA.
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Mairs & Power (CRD 110351): Form ADV filing data as of October 2026.