(PUB) Investing 2015

4

Data through June 30, 2015 Mairs & Power Small Cap

Ticker

Status Yield Total Assets

Mstar Category

MSCFX Open

0.3% $202 mil

Small Blend

Morningstar Analyst Rating 06-01-15

Investment Style Equity Stock %

Historical Profile Return Risk Rating Above Avg Below Avg Above Avg

„

Manager Change Partial Manager Change

10.0 12.5 15.0 18.0 20.5

Morningstar Pillars Process Performance

Growth of $10,000

Positive Positive Positive Positive Positive

Investment Values of Fund Investment Values of S&P 500

People Parent Price

Performance Quartile (within Category) History

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 06-15

Morningstar Analyst Rating Morningstar evaluates mutual funds based on five key pillars, which its analysts believe lead to funds that are more likely to outperform over the long term on a risk-adjusted basis. Analyst Rating Spectrum Œ „ ´ˇ ¨

NAV 14.49 11.21 . . . . . . . 30.60 -7.10 . . . . . . . * 20.94 20.67 19.78 38.75

6.73 -6.96

1.31 0.08

Total Return %

+/-S&P 500 6.36 14.60 . . . . . . . . +/-Russ 2000 -3.44 1.84 -0.07 14.25 . . . . . . . . Income Return % 0.00 0.38 0.38 0.20 . . . . . . . . Capital Return % 1.31 6.35 38.37 30.40 . . . . . . . . Total Rtn % Rank Cat 81 20 35 1 . . . . . . . . Income $ 0.00 0.07 0.06 0.02

Pillar Spectrum Positive

0.00 . . . . . . . 0.13 0.00 . . . . . . . 1.25 1.25 . . . . . . . 0.34 0.32 . . . . . . . 7 5 . . . . . . . 41 5 . . . . . . . 0.00 0.37 1.07 0.43 0.27 1.17 0.37 . . . 202 16 35 162 111

§ Negative

¶ Neutral

Capital Gains $ Expense Ratio % Income Ratio % Turnover Rate % Net Assets $mil

Performance 06-30-15 1st Qtr 2nd Qtr

3rd Qtr

4th Qtr

Total

2011 2012 2013 2014 2015

. . . 7.35 3.39 30.60 15.53 -1.02 10.26 10.05 38.75 3.24 2.30 -5.36 6.79 6.73 2.61 -1.27 . . . * 20.28 -7.10 15.16 2.17

Portfolio Analysis 05-31-15 Share change since 04-15 Total Stocks:45 Sector

Rating and Risk Time Load-Adj

PE Tot Ret% % Assets

Morningstar

Morningstar Risk vs Cat

Morningstar Risk-Adj Rating

Period Return % Rtn vs Cat

Badger Meter Inc

Technology 31.3 7.62 3.59 Finan Svs 18.2 14.63 3.36 Technology 18.2 -14.41 3.36 Basic Mat 30.6 24.76 3.18 Finan Svs 19.4 19.28 3.14

1 Yr 3 Yr 5 Yr

2.38

Trailing

Total

+/-

+/- Russ %Rank Growth of

Wintrust Financial Corp

Return% S&P 500 -1.27 -1.55 1.31 0.08 2.38 -5.04 18.53 1.22

2000 -1.69 -3.44 -4.11 0.72

Cat

$10,000

18.53

+Avg

-Avg

Cray Inc

3 Mo 6 Mo 1 Yr

80 9,873 81 10,131 67 10,238

. . . . . . . .

Apogee Enterprises Inc PrivateBancorp Inc

10 Yr Incept

22.45

Deluxe Corp Bemis Co Inc

Industrl

15.8 0.56 3.13

3 Yr Avg 5 Yr Avg 10 Yr Avg 15 Yr Avg 29 16,653 . . . . . . . . . . . . . . . Tax Analysis Tax-Adj Rtn% %Rank Cat Tax-Cost Rat %Rank Cat

Cnsmr Cyc 19.1 0.80 3.11

Other Measures

Standard Index

Best Fit Index S&P 500 Mstar Small Value

MDU Resources Group Inc United Fire Group Inc

Basic Mat

-15.34 3.04

.

Finan Svs 12.0 11.60 3.03 Basic Mat 22.3 -5.91 3.01

Alpha

0.5

2.7

Hawkins Inc

Beta

1.06

0.91

Agree Realty Corp Bio-Techne Corp Oshkosh Corp Generac Holdings Inc

Real Est

23.4 -3.23 2.99

R-Squared

61

87

Hlth care 33.8 7.26 2.99

3 Yr (estimated) 5 Yr (estimated) 10 Yr (estimated)

18.01

16 15 . . . . . . . . 0.43

Standard Deviation

11.58 18.53

Industrl Industrl Utilities Industrl

12.8 -12.19 2.79 17.5 -14.99 2.72 15.7 -14.04 2.56 17.9 -10.66 2.52

Mean

ALLETE Inc Graco Inc Stratasys Ltd

Sharpe Ratio

1.53

Potential Capital Gain Exposure: 17% of assets

Technology

-57.97 2.51

.

Morningstar’s Take by Laura Lallos 06-01-15 Like siblings Mairs & Power Growth MPGFX and Mairs & Power Balanced MAPOX, Mairs & Power Small Cap earns a Morningstar Analyst Rating of Silver thanks to an excellent investment team, sound strategy, strong performance record, and modest fees, all backed by a firm that has been an exemplary steward of shareholder capital. Lead manager Andrew Adams joined Mairs and Power in 2006 and has run this fund since its 2011 inception. He has been a significant small-cap resource for the firm’s all-cap flagship Growth fund, and in January 2015, he was named comanager there. At the same time, Allen Steinkopf was named comanager here. Steinkopf joined the firm in 2013 but has a history working with Adams when both were at U.S. Bancorp Asset Management (now Nuveen). The two work closely with the firm’s eight other investment professionals; the team maintains buy and watch lists and monitors the portfolios. The fund follows the sound long-term orientation guiding all the firm’s strategies: buy and hold

Associated Banc-Corp Donaldson Co Inc

Finan Svs 16.9 9.88 2.48

Industrl

22.5 -6.46 2.46

financially sound businesses with sustainable competitive advantages that can deliver consistently above-average return on equity. The team believes an ongoing relationship with management and community ties with employees give it an edge in fundamental analysis, so it emphasizes businesses headquartered nearby in the upper Midwest. Many of the holdings here will look familiar to followers of the Growth fund, which holds a slug of small caps; the funds had 17 holdings in common, accounting for about 40% of this fund’s assets. That leads to one caveat: This fund may not be the best source of diversification for Mairs & Power Growth shareholders, though it may satisfy those who like the approach and want to allocate more to small caps. The fund’s returns have been excellent so far, and while it hasn’t endured a truly rough market yet, its moderate volatility and high-quality portfolio bode well. Modest fees and the firm’s commitment to closing the fund by the $500 million mark should help the fund continue to outperform over the long term.

Gentherm Inc

Cnsmr Cyc 27.1 49.95 2.41

Current Investment Style

Sector Weightings

% of Stocks

Rel S&P 500 High

3 Year Low

Market Cap % Giant 0.0 Large 0.0 Mid 18.9 Small 48.2 Micro 32.9 Avg $mil: 1,711

Value Blnd Growth

Large Mid Small

Cyclical 41.30 BasicMat 10.95 CnsmrCyc 8.27 FinanSvs 17.03 Real Est 5.05 Sensitive 46.53 CommSrvs 0.00 Energy 0.89 Industrl 26.69 Technlgy 18.95 Defensive12.17 CnsmrDef 2.36 Hlthcare 7.19 Utilities 2.62

.

h r t y u j i o p a k s d f

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Value Measures Price/Earnings Price/Book Price/Sales Price/Cash Flow Dividend Yield % Long-Term Erngs Book Value Sales Cash Flow Historical Erngs Growth Measures

Rel Category

21.13 2.04 1.50 13.37 2.04 11.58 7.98 6.31 -3.34 11.18

1.29 1.21 1.63 2.08 1.45 0.93 4.78 3.54 NMF 1.73

% Rel Category

Composition - Net

Cash 2.4 Stocks 97.6 Bonds 0.0 Other 0.0 Foreign 2.6

Address:

Mairs & Power Funds Trust St. Paul, MN 55101-1363 800-304-7404 www.mairsandpower.com/

Minimum Purchase: Min Auto Inv Plan:

$2500

Add: $100 IRA: $1000

$0

Add: .

Profitability

% Rel Category

Sales Fees:

No-load, 1.00%R 0.90%, 0.00%A

Return on Equity Return on Assets Net Margin

13.75 6.23 9.78

1.19 1.33 1.15

Web Address: Inception: Advisor: Subadvisor: NTF Plans:

Management Fee:

(% of Stock)

08-11-11

Actual Fees:

Mgt:0.90% Dist: .

*

Mairs & Power Inc

Expense Projections: Income Distribution:

3Yr:$340 Annually

5Yr:$590 10Yr:$1306

None

N/A

Mutual Funds ß ®

© 2015Morningstar, Inc.All rights reserved.The informationherein is not represented orwarranted tobeaccurate, correct, completeor timely. Pastperformance is no guarantee of future results.Access updated reportsat Toorder reprints, call312-696-6100. mfb.morningstar.com.

EQ