The Mairs & Power, an investment firm, released the first-quarter 2026 investor letter for the “Mairs & Power Balanced Fund.” A copy of the letter can be downloaded here. The fund returned -1.77% in the first quarter of 2026, outperforming its benchmark composite index decline of -2.68% as strong stock selection and exposure to Utilities and Industrials helped offset market volatility triggered by the Iran conflict and rising energy prices. The fund said inflation concerns resurfaced after Middle East tensions pushed oil prices higher, causing the Federal Reserve to adopt a more...
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