Marshfield Concentrated Opportunity
MRFOX
NASDAQ- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- Cincinnati, OH 45246 Cincinnati OH United States of America 45246
- IPO Date
- Dec 29, 2015
- CIK
- 0001545440
- Website
- marshfieldfunds.com
- Similar Companies
- Business
- Marshfield Concentrated Opportunity Fund (MRFOX) is an open-end mutual fund that seeks capital preservation and long-term growth of principal through a concentrated portfolio of 16 to 24 common stocks of undervalued U.S. companies across large-cap, mid-cap, and small-cap market capitalizations, traded on U.S. securities exchanges or over-the-counter markets; it maintains significant cash positions, typically around 28%, including holdings in treasury money market funds and institutional cash equivalents, while emphasizing sector-agnostic value investing that deviates from market benchmarks to avoid consensus stocks and closet indexing. The fund targets intrinsic value opportunities in sectors such as consumer cyclical, financial services, industrials, and healthcare, with top holdings including AutoZone Inc., Ross Stores Inc., O'Reilly Automotive Inc., Cummins Inc., and UnitedHealth Group Inc.. Managed by Marshfield Associates, Inc., the fund serves institutional and retail investors in the United States through daily pricing and a minimum initial investment of USD 10,000. Launched on December 29, 2015, and domiciled in the United States, the fund is headquartered in Washington, D.C., where its adviser Marshfield Associates—established in 1989 and managing approximately USD 7.5 billion in assets as of December 31, 2024—oversees operations from Dupont Circle. The investment team, led by Christopher Niemczewski and Elise Hoffmann since inception with Chad Goldberg joining in 2022, employs fundamental analysis for bottom-up stock selection. Marshfield Associates, owned by its eight principals with an average tenure of 25 years who co-invest alongside clients, also offers separately managed accounts mirroring the fund's value-oriented strategy to institutional and private clients. Recent developments include substantial growth in assets under management at Marshfield Associates to USD 7.5 billion by end-2024, reflecting strong inflows and performance with total net assets for MRFOX reaching USD 1.15 billion; the firm prepared for a relocation to new offices at 1330 Connecticut Avenue NW in Dupont Circle during summer 2025, marking its first move since 1998. Portfolio adjustments in 2025 emphasized consumer cyclical leaders like AutoZone and O'Reilly Automotive amid market volatility, alongside increased cash allocations exceeding 25% for opportunistic positioning. No major acquisitions, partnerships, or new product launches were reported in the last 1-2 years, with focus remaining on core value equity strategies and an updated prospectus issued in December 2024.