Marsico Midcap Growth Focus Fund
MXXIX
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- Marsico Midcap Growth Focus Fund (MXXIX) is a diversified mutual fund that seeks long-term growth of capital by investing primarily in common stocks selected for their growth potential, with at least 80% of assets under normal circumstances allocated to medium-capitalization growth companies; it normally maintains a core position of 35 to 50 stocks across sectors such as information technology, industrials, financial services, healthcare, and consumer cyclical. The fund offers Investor Class shares (MXXIX) with a minimum initial investment of $2,500 and an expense ratio of approximately 1.46%, and Institutional Class shares (MIDFX) with a lower expense ratio of around 1.20%, both subject to a contractual expense limitation agreement by Marsico Capital Management, LLC through January 31, 2026. Managed by a team including Tom Marsico (Founder and Portfolio Manager with over 45 years of experience), Peter Marsico, and Jimmy Marsico, the fund targets high-quality companies with exceptional long-term growth potential, including recent portfolio additions like AAR Corp. for its role in aviation aftermarket parts distribution, maintenance, repair, and overhaul services. Marsico Capital Management, LLC, founded in 1997 and headquartered at 1200 17th Street, Suite 1700, Denver, Colorado, serves as the investment adviser and oversees approximately $4.4 billion in assets as of September 30, 2025, across a suite of five growth-oriented equity mutual funds including the Midcap Growth Focus Fund. The firm employs a high-conviction, concentrated approach focused on domestic and international equities for institutional and retail investors such as endowments, foundations, family offices, and corporate retirement plans. Operations are primarily U.S.-based with investments in both domestic (about 78% of assets) and non-U.S. stocks (around 14%), complemented by cash holdings. Recent developments include the extension of the expense limitation and fee waiver agreement to January 31, 2026, capping Investor Class expenses at 1.45% and Institutional Class at 1.20% (excluding certain items like taxes and interest), with provisions for potential recoupment of prior waivers. The firm initiated new positions in Q2 2025, such as in Marvell Technology Inc. and Broadcom Inc., reflecting ongoing portfolio adjustments amid market opportunities in semiconductors. As of late 2025, the fund received a 5-star Morningstar rating among mid-cap growth peers based on risk-adjusted returns, with total assets under management reaching approximately $289 million.