Mairs & Power Growth Fund’s Q3 2023 Investor Letter

Mairs & Power, an investment advisor, released the “Mairs & Power Growth Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. The stock market began positively in the third quarter but declined in August and September due to rising interest rates. Despite losing some of its gains in the third quarter, the Mairs & Power Growth Fund is still up 12.19% for the year. In contrast, the Morningstar Large Blend category has experienced a 9.74% year-to-date increase while the S&P 500 Total Return (TR) has increased by 13.07%. The sector allocation led the fund to underperform in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2023.