Marshfield Concentrated Opportunity Fund (MRFOX)
| Fund Assets | 1.33B |
| Expense Ratio | 1.02% |
| Min. Investment | $10,000 |
| Turnover | 6.00% |
| Dividend (ttm) | 0.56 |
| Dividend Yield | 1.62% |
| Dividend Growth | -61.74% |
| Payout Frequency | Annual |
| Ex-Dividend Date | Dec 15, 2025 |
| Previous Close | 34.17 |
| YTD Return | 0.06% |
| 1-Year Return | 7.07% |
| 5-Year Return | 85.08% |
| 52-Week Low | 29.91 |
| 52-Week High | 35.14 |
| Beta (5Y) | 0.64 |
| Holdings | 19 |
| Inception Date | Dec 29, 2015 |
About MRFOX
The Marshfield Concentrated Opportunity Fund is a U.S.-based mutual fund designed with a focus on capital preservation and long-term growth of principal. Managed by Marshfield Associates, the fund sets itself apart through a highly selective, concentrated approach—typically holding between 16 and 24 equity securities, along with a meaningful cash position that may range from 0% to 25% depending on market opportunities. Rather than adhering to sector allocation constraints or mimicking benchmark indices, the fund employs a disciplined, research-intensive process aimed at investing only in companies that demonstrate resilience, sustained profitability, and prudent management. Positions are initiated only when stock prices fall substantially below Marshfield’s estimate of intrinsic value, and holdings are maintained for the long term, often around eight years on average. The fund avoids so-called “consensus stocks” and is willing to hold cash during periods when suitable investments are scarce, emphasizing a contrarian, high-conviction philosophy. This strategy results in a portfolio often heavily weighted toward its top holdings, and its performance pattern may differ significantly from broad market indices, reflecting its distinct investment process and focus on superior long-term outcomes.
Performance
MRFOX had a total return of 7.07% in the past year, including dividends. Since the fund's inception, the average annual return has been 17.97%.
Top 10 Holdings
73.01% of assets| Name | Symbol | Weight |
|---|---|---|
| Goldman Sachs Financial Square Treasury Instruments Fund | FTIXX | 10.95% |
| AutoZone, Inc. | AZO | 10.31% |
| Vanguard Treasury Money Market Fund | VUSXX | 9.45% |
| Ross Stores, Inc. | ROST | 8.23% |
| The Progressive Corporation | PGR | 7.17% |
| UnitedHealth Group Incorporated | UNH | 6.70% |
| O'Reilly Automotive, Inc. | ORLY | 5.39% |
| Mastercard Incorporated | MA | 5.09% |
| Cummins Inc. | CMI | 5.01% |
| Visa Inc. | V | 4.71% |
Dividend History
| Ex-Dividend | Amount | Pay Date |
|---|---|---|
| Dec 15, 2025 | $0.5555 | Dec 16, 2025 |
| Dec 16, 2024 | $1.4519 | Dec 17, 2024 |
| Dec 15, 2023 | $0.1306 | Dec 18, 2023 |
| Dec 16, 2022 | $0.0851 | Dec 19, 2022 |
| Dec 17, 2021 | $1.5613 | Dec 17, 2021 |
| Dec 18, 2020 | $0.5636 | Dec 21, 2020 |