Mairs & Power Small Cap Fund Established a Position in Cognex Corporation (CGNX)

Mairs & Power, an investment advisor, released the “Mairs & Power Small Cap Fund” first quarter 2025 investor letter. A copy of the letter can be downloaded here.  The fund declined 11.04% in the quarter, lagging behind the Russell 2000 Total Return Index, which fell 9.48%, the S&P Small Cap 600 Total Return Index, which was down 8.93%, and the Morningstar U.S. Fund Small Blend Index, which declined 8.09%. Stock selection, with negative relative performance in Healthcare, Financials, Information Technology, and Real Estate sectors, led to the underperformance of the portfolio in the...