He intends to run a more concentrated portfolio, he says, trimming the number of stocks from 125 to about 100 and raising the weight of the top ten from 20% to 25%. Some of his first buys were beaten-down financial stocks, such as Moody's and McGraw-Hill, owner of Standard & Poor's. He also says he's selling some Big Pharma names, such as Novartis, because of a less favorable political environment, but is adding health-care supply firms, such as Becton-Dickinson.
Rowe’s media and telecommunications fund, so you can expect to see more of those tech names in Growth. The winners are generally companies that can sell more while raising prices.īartolo had co-managed T. Surprisingly few companies have the stamina to maintain 15% growth for five years, he says, especially in a slower economy. Like Smith, Bartolo looks for companies that can sustain annual growth of 15% over three to five years and that sell for a reasonable price.
Rowe Price Growth Stock in October 2007, replacing Bob Smith, who had skillfully piloted this fund for more than a decade (Smith is now running T. (Marsico 21st Century has 14% of assets in foreign stocks.) And in Amylin Pharmaceuticals, Gilchrist thinks he’s found a biotech winner with a “revolutionary” diabetes drug, Byetta, that may someday displace insulin. For example, Gilchrist says he was drawn to Heineken, the venerable Dutch beer brand that has a strong position in such emerging markets as Russia and Nigeria, where growing wealth means more money is available for premium brews. Managed by Cory Gilchrist, 21st Century's 21% annualized return over the past five years trounced the gain of Standard & Poor's 500-stock index by an average of ten percentage points per year.Īll the Marsico funds employ big-picture forecasting and company-by-company analysis. Marsico 21st Century borrows some of the best ideas from those funds, such as Goldman Sachs and Wells Fargo, and mixes in some stocks of midsize and small companies. Tom Marsico has made a name for himself investing in large, fast-growing companies, first at Janus and later at his own shop, where he now manages Marsico Growth and Marsico Focus with aplomb. For more current results, see our fund tables. Returns in this story are to December 1, 2007.
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