Strategy. The Fund normally will invest at least 80% of its net assets (including borrowings for investment purposes) in U.S. common stocks issued by small-cap companies. For this purpose, small-cap companies are defined as companies whose market capitalization is within the market capitalization range represented by companies in the Russell 2000 Total Return Index. The Russell 2000 Total Return Index is a widely used benchmark for small-cap performance and is rebalanced continuously. As of December 31, 2024, the market capitalization range for the Russell 2000 Total Return Index was approximately $4 million to $14.8 billion, but is expected to change frequently. The Fund also may invest in common stocks issued by companies with market capitalizations above the market capitalization range of … Show more… The Fund normally will invest at least 80% of its net assets (including borrowings for investment purposes) in U.S. common stocks issued by small-cap companies. For this purpose, small-cap companies are defined as companies whose market capitalization is within the market capitalization range represented by companies in the Russell 2000 Total Return Index. The Russell 2000 Total Return Index is a widely used benchmark for small-cap performance and is rebalanced continuously. As of December 31, 2024, the market capitalization range for the Russell 2000 Total Return Index was approximately $4 million to $14.8 billion, but is expected to change frequently. The Fund also may invest in common stocks issued by companies with market capitalizations above the market capitalization range of the Russell 2000 Total Return Index only if, after the purchase is made, the Fund has at least 80% of its net assets invested in small-cap securities. In selecting securities for the Fund, the Funds investment adviser, Mairs & Power, Inc. (the Adviser), gives preference to companies with attractive business niches, strong competitive positions, and the potential to grow revenues, earnings and cash flows consistently over the long-term. Capable management with a track record of prudent capital deployment is also an important consideration. The Adviser focuses generally on companies located in Minnesota and other states in the Upper Midwest region of the U.S. (which the Adviser considers to be the states of Illinois, Iowa, Minnesota, North Dakota, South Dakota and Wisconsin). The Fund may also invest up to 25% of its total assets in securities of foreign issuers which are listed on a U.S. stock exchange or are represented by American Depositary Receipts (ADRs). From time to time, the Fund may invest in initial public offerings (IPOs). The Fund may have significant investments in the industrials sector. The Adviser seeks to keep the Funds assets reasonably fully invested, to maintain modest portfolio turnover rates, and to moderate risk by investing in a diversified portfolio of equity securities. The Adviser may sell the Funds portfolio securities for a variety of reasons, such as to secure gains, limit losses, or redeploy assets into more promising opportunities. Show less