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Mawer U.S. Equity Fund
As at March 31, 2026
Morningstar Rating™
(As at Mar 31, 2026)
Fund Managers:
Grayson Witcher, CFA, AB
Series Start Date:
Dec 18, 1992
Fund Net Asset Value:
$3,016.00 million
Total Net Asset Value (Series A):
$547.60 million
Net Asset Value Per Unit:
$101.42
RRSP Eligibility:
Yes
Management Expense Ratio* :
1.14% (as at 31 Dec 2025)
Trading Expense Ratio†:
0.01% (as at 31 Dec 2025)
Fund Code:
MAW108
Related Links
Nostalgia Is Not a Strategy: Adapting the Investing Playbook to a Changing World Order | EP208
February 3, 2026
28 Mins
Quarterly Update | Q4 2025 | EP 206
January 15, 2026
21 Mins
Invisible Hand to Heavy Hand: Govt Stakes, AI, and the Shifting CapEx Cycle in the U.S. | EP197
September 17, 2025
30 Mins
Performance
Performance
Fund Documents
Fund Documents
Prices
Prices
Fund Commentary
Fund Commentary
What Does this Fund Invest In?
The Fund invests in equity and equity-related securities of U.S. entities. Treasury bills or short-term investments, not exceeding three years to maturity will also be used.
Investor Suitability
Investors seeking long-term, above-average growth who can tolerate equity volatility. Medium risk.
Investment Strategy
In order to achieve its investment objectives, the Manager systematically creates a broadly diversified portfolio of wealth-creating companies with excellent management teams bought at discounts to their intrinsic values. The Manager employs a highly disciplined, research-driven, bottom-up process and long-term holding period to allow for investor recognition or corporate growth, and to minimize transaction costs.
Top Holdings
Top HoldingsWeight (%)
Amphenol Corp4.8
Alphabet Inc4.7
Amazon.com Inc4.1
Microsoft Corp4.0
Cencora Inc3.6
Waters Corp3.4
Visa Inc3.3
CME Group Inc3.1
BWX Technologies Inc2.9
Martin Marietta Materials Inc2.8
Intercontinental Exchange Inc2.5
Verizon Communications Inc2.5
American Electric Power Co Inc2.5
Marsh & McLennan Cos Inc2.4
Arthur J Gallagher & Co2.4
FTI Consulting Inc2.4
Abbott Laboratories2.4
Mastercard Inc2.4
OSI Systems Inc2.4
Procter & Gamble Co/The2.3
Southern Co/The2.2
Northrop Grumman Corp2.2
CACI International Inc1.9
JPMorgan Chase & Co1.8
Texas Instruments Inc1.6
Net Performance‡
As at March 31, 2026
1 Yr3 Yr5 Yr10 Yr
Mawer U.S. Equity Fund0.411.38.911.8
S&P 500 Index (TR)14.219.514.415.0
Morningstar Rating™
1
2
3
3
Number of Funds in Morningstar Category
1155
1039
934
586
Number of Holdings§58
Equity Sector Weights
Portfolio
S&P 500 Index (TR)
Communication Services
Consumer Discretionary
Consumer Staples
Energy
Financials
Health Care
Industrials
Information Technology
Materials
Real Estate
Utilities
Cash and Cash Equivalents
7.2
10.3
6.9
9.9
4.1
5.3
0.0
4.0
22.2
12.6
19.0
9.5
14.6
9.0
15.4
32.9
5.0
2.1
0.0
2.0
4.7
2.5
0.8
0.0
Related Links
Nostalgia Is Not a Strategy: Adapting the Investing Playbook to a Changing World Order | EP208
February 3, 2026
28 Mins
Quarterly Update | Q4 2025 | EP 206
January 15, 2026
21 Mins
Invisible Hand to Heavy Hand: Govt Stakes, AI, and the Shifting CapEx Cycle in the U.S. | EP197
September 17, 2025
30 Mins
Disclaimers
* Management expense ratio (“MER”) is based on total expenses for the stated period and is expressed as an annualized percentage of daily average net assets during the period.
† The trading expense ratio represents total commissions and other portfolio transaction costs expressed as an annualized percentage of daily average net assets during the year.
‡ Performance has been presented for the A-series mutual funds and has been calculated net of fees. Performance has been expressed in Canadian dollars.
§ Equity holdings excluding cash.