Quarterly Update | Q3 2026 | EP 232
October 14, 2026
22 Mins
Mawer U.S. Equity Fund
As at September 30, 2026
Morningstar Rating™
starstarstar
(As at September 30, 2026)
Fund Managers:
Grayson Witcher, CFA, AB
Series Start Date:
Dec 18, 1992
Fund Net Asset Value:
$2,905.10 million
Total Net Asset Value (Series F):
$514.90 million
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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 Holdings | Weight (%) |
|---|---|
| Alphabet Inc | 5.2 |
| Amazon.com Inc | 5.0 |
| Microsoft Corp | 4.6 |
| NVIDIA Corp | 4.2 |
| Waters Corp | 4.1 |
| Amphenol Corp | 4.1 |
| Cencora Inc | 3.5 |
| Visa Inc | 3.1 |
| Texas Instruments Inc | 2.8 |
| Mastercard Inc | 2.6 |
| Intercontinental Exchange Inc | 2.5 |
| Abbott Laboratories | 2.4 |
| American Electric Power Co Inc | 2.2 |
| Martin Marietta Materials Inc | 2.2 |
| AbbVie Inc | 2.1 |
| Northrop Grumman Corp | 2.1 |
| Arthur J Gallagher & Co | 2.1 |
| BWX Technologies Inc | 2.0 |
| CACI International Inc | 2.0 |
| CME Group Inc | 2.0 |
| Verisk Analytics Inc | 1.9 |
| FTI Consulting Inc | 1.8 |
| Southern Co/The | 1.8 |
| Veeva Systems Inc | 1.6 |
| Novanta Inc | 1.6 |
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
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Disclaimers