Fund Evaluator:
Marsico Focus Institutional (MIFOX)
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Best Performing in Large Growth Over the Last Year
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Fund Details
Marsico Focus Institutional Overview
Marsico Focus Institutional (MIFOX) is an actively managed U.S. Equity Large Growth fund. Marsico Investment Fund launched the fund in 2021.
The investment seeks long-term growth of capital. The fund invests primarily in the common stocks of large companies that are selected for their long-term growth potential. It will normally hold a core position of between 20 and 35 common stocks. The investment adviser seeks to select stocks of high-quality companies with compelling long-term capital appreciation potential. The fund is non-diversified.
About Marsico Focus Institutional (MIFOX)
There are 3 members of the management team with an average tenure of 12.28 years: Thomas Marsico (1997), Peter Marsico (2022), James Marsico (2022). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: S&P 500 (TR) (1970) index with a weighting of 100%. Marsico Focus Institutional has 20 securities in its portfolio. The top 10 holdings constitute 63.2% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Marsico Focus Institutional is part of the Equity global asset class and is within the U.S. Equity fund group. Marsico Focus Institutional has 10.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 84.4%. There is 10.1% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Marsico Focus Institutional has 5.5% of the portfolio in cash.
Assets Under Management
The fund has $192 million in total assets, which is below the $2 billion average for the Large Growth category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
MIFOX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Marsico Focus Institutional expense ratio is high compared to funds in the Large Growth category. Marsico Focus Institutional has an expense ratio of 0.92%, which is 4% lower than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Marsico Focus Institutional has a portfolio turnover rate of 64%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 55% for the Large Growth category.
Recently, in the month of August 2026, Marsico Focus Institutional returned 0.8%, which earned it a grade of F, as the Large Growth category had an average return of 3.3%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Marsico Focus Institutional has a trailing yield of 0.00%, which is below the 0.06% category average. The fund normally distributes its income annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Marsico Focus Institutional Grades
Year to date, the fund has returned 6.1%, 1.1 percentage points worse than the category, which translates into a grade of C. The fund has returned 7.9% over the past year (grade of D), 21.9% over the past three years (grade of B) and 10.4% per year over the past five years (grade of B) and 17.5% per year over the past 10 years (grade of A).
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MIFOX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| MIFOX Return (NAV) | 0.8% | -4.3% | 7.9% | 21.9% | 10.4% | 17.5% |
| MIFOX Grade | F | F | D | B | B | A |
| +/- Category | -2.5% | -3.1% | -4.1% | 2.0% | 1.8% | 1.8% |
| Large Growth Avg | 3.3% | -1.2% | 12.0% | 20.0% | 8.6% | 15.7% |
| MIFOX Tax Cost Ratio | na | na | 3.6% | 1.8% | na | na |
MIFOX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| MIFOX Return (NAV) | 6.1% | 12.5% | 41.1% | 45.7% | -33.1% | 20.0% | 50.1% | 32.3% | 0.5% | 34.0% | -6.8% |
| MIFOX Grade | C | D | A | A | D | C | A | D | B | B | F |
| +/- Category | -1.1% | -3.1% | 11.4% | 7.0% | -1.0% | -0.2% | 8.0% | -0.9% | 1.2% | 4.2% | -9.5% |
| Large Growth Avg | 7.2% | 15.7% | 29.6% | 38.7% | -32.1% | 20.2% | 42.1% | 33.2% | -0.7% | 29.8% | 2.7% |
| Risk Measures | |
| Standard Deviation: | 16.6% |
| Total Risk Index: | 1.36 - High |
| Category Risk Index: | 0.94 - Below Average |
| Category Risk Grade: | B (38% Rank) |
| Beta: | 1.17 |
| R-Squared: | 83% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 0.0% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | |
| Total Assets: | $1037 Mil |
| Fund Total Assets: | $ 193 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 64% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 28.7 years | |||
| Average Tenure: 12.3 years | |||
| Managers (Year): Marsico Thomas (1997), Marsico Peter (2022), Marsico James (2022) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 20 |
| % in Top 10 Holdings: | 63.2% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 10.1% |
Portfolio Allocation |
|
| Domestic Stock: | 84.4% |
| Foreign Stock: | 10.1% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 5.5% |
Purchase Information
| Fund Family: | Marsico Investment Fund |
| Phone Number: | 888-860-8686 |
| Website: | www.marsicofunds.com |
| Status: | Open |
| Inception Date: | December 6, 2021 |
| Min. Initial Purchase: | $100,000 |
| Min. Initial IRA Purchase: | $100,000 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.00% |
Expenses and Fees | |
| Expense Ratio (%): | 0.92% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.96% |
| Share Class: | Marsico Focus |
| Min. Subsequent Purchase: | $1,000 |
| Min. Subsequent IRA Purchase: | $1,000 |
