Item 5. Fees and Compensation
Fees for Fund Clients
As noted in Item 4. Advisory Business and Item 7. Types of Clients, Fund Clients served by
MCM include the U.S. registered investment company identified in Item 10, and other pooled
investment vehicles (such as a sub-advised foreign collective investment vehicle).
In serving Fund Clients, MCM typically serves as investment adviser or sub-adviser to the fund
or its principal manager. Fund advisory arrangements and fees are customized for each fund,
and are approved by fund boards. The prospectus or other disclosure document for each fund or
portfolio provides information about advisory or sub-advisory services and fees payable to MCM
(or to another principal manager which itself may pay MCM).
MCM generally does not calculate its fees for Fund Clients or determine the value of mutual
fund portfolios used in calculating fees. Instead, those calculations ordinarily are made by
another service provider to the fund such as a fund accountant or custodian, in accordance with
each fund’s policies.
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Fund Clients pay additional fees and expenses to other service providers for custody, fund
accounting, administration, transfer agency, distribution, and other services not provided by
MCM. Fund Clients also pay brokerage and other fees and expenses discussed further below.
Fees for Private Accounts
For separately managed Private Accounts such as corporate retirement plans, foundations, trusts,
tax-exempt and charitable institutions, individual retirement accounts, and other institutions and
individuals, the following standard fee schedules generally would apply to new Private
Accounts, subject to exceptions negotiated at MCM’s discretion:
Growth Equity Account:
Focused Growth
Large Cap Growth
Select Alpha Growth
Midcap Growth Focus
International Growth
Global Growth
Total Assets Under Management Annual Fee
On the first $1,000,000 2.0%
On the next $2,000,000 1.5%
On the next $2,000,000 1.0%
Assets over $5,000,000 0.75%
Assets over $50,000,000 0.65%
Assets over $100,000,000 Negotiable
Private Account clients pay additional fees and expenses to other service providers for custody
and other services not provided by MCM. Private Account clients also pay brokerage and other
fees and expenses discussed further below.
Calculation of Fees for Private Accounts
Calculation/Payment of Private Account Fees. Private Accounts typically pay management fees
to MCM quarterly in arrears within 30 days after receipt of a fee invoice. MCM typically
calculates the fee by making a separate calculation for each month during the quarter based on
the market value of the Private Account on the last calendar day of the month.
For accounts that were open during a portion of a quarter, MCM pro-rates each month’s fees
based upon the number of days the Private Account was open during that month. To minimize
complexity, MCM generally does not pro-rate fees to reflect contributions or withdrawals of
account assets during a single billing period.
Fee Arrangements for Wrap Programs. MCM provides advisory services to certain wrap
programs that use model portfolios in managing their own clients’ portfolios. In return for its
services in providing model accounts, MCM is paid a fee based on a percentage of the total
assets of accounts which receive MCM’s model recommendations.
Marsico Capital Management, LLC Page 9 Form ADV Part 2A May 5, 2026
Special Fee Arrangements. MCM reserves the right in its sole discretion to negotiate and charge
different fees not specified here, such as those discussed below in Item 6. Performance-Based
Fees and Side-By-Side Management, or to waive fees. Fees may be charged for certain
accounts based on the client’s particular needs and service requirements, the nature and size of
the investment mandate, customary fee arrangements in the relevant market, the nature and size
of MCM’s overall relationship with the client, overall financial conditions, investment goals, risk
tolerance, restrictions, and other factors relevant to existing, new, special, or additional services.
Payment of Invoices Compared to Direct Fee Deduction. Clients may elect to receive an invoice
from MCM for its fees and cause the invoice to be paid after receipt. In the alternative, a client
may instruct its custodian to periodically deduct the agreed investment advisory fees directly
from the client’s account and pay the fees to MCM. For more information on direct fee
deduction arrangements, please refer to Item 15. Custody below.
Brokerage and Other Account Fees and Expenses. MCM’s fees do not include the expenses of
buying and selling securities for client portfolios (“Aggregate Transaction Fees”). Aggregate
Transaction Fees include, among other expenses, brokerage commissions, spreads, transaction
fees, fees associated with the execution of foreign currency transactions, transfer taxes, and wire
transfer and electronic transfer fees. Aggregate Transaction Fees are typically paid directly by
each client account. Factors that MCM may consider in selecting broker-dealers for client
transactions and evaluating the reasonableness of broker compensation are discussed further in
Item 12 below.
MCM may, from time to time, buy and sell securities (i.e., turnover securities) in a client
portfolio at a higher rate than is generally typical for that portfolio for various reasons (including
to seek stronger returns during periods of heightened market volatility). Further, portfolio
turnover rates for some client portfolios may be greater than for others due to the investment
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