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Mar Vista

Dec 2024 → Jun 2026 · Publishes quarterly · 6 funds

Our archive holds 20 letters from Mar Vista, behind 26 investment theses and positions in 26 companies. Every quote below is copied verbatim from the letter it came from.

Mar Vista’s own letters page
20
Letters
26
Companies
28
Moves
26
Theses

What they bought and sold · 28 moves

  • AddedNetflix
    June 2026
    “We added to our holdings in Netflix (NFLX) and trimmed Alphabet (GOOG), Amazon (AMZN), Analog Devices (ADI), and TransDigm (TDG).”
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  • TrimmedAlphabet
    June 2026
    “During the quarter-end rebalance of the Quality Premier strategy, we also exited Ametek (AME), added to our holdings in Broadcom (AVGO) and GE Vernova (GEV), and trimmed Alphabet (GOOG), Amazon (AMZN), Danaher (DHR), and Unilever (UL).”
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  • TrimmedUnilever
    June 2026
    “During the quarter-end rebalance of the Quality Premier strategy, we also exited Ametek (AME), added to our holdings in Broadcom (AVGO) and GE Vernova (GEV), and trimmed Alphabet (GOOG), Amazon (AMZN), Danaher (DHR), and Unilever (UL).”
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  • New positionASML Holding
    June 2026
    “During the quarter, we initiated new investments in ASML Holding (ASML) and StandardAero (SARO).”
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  • ExitedIntuit
    June 2026
    “During the quarter, we initiated new investments in ASML Holding (ASML) and we exited our position in Intuit (INTU).”
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  • TrimmedDanaher
    June 2026
    “During the quarter-end rebalance of the Quality Premier strategy, we also exited Ametek (AME), added to our holdings in Broadcom (AVGO) and GE Vernova (GEV), and trimmed Alphabet (GOOG), Amazon (AMZN), Danaher (DHR), and Unilever (UL).”
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  • TrimmedAmazon
    June 2026
    “We added to our holdings in Netflix (NFLX) and trimmed Alphabet (GOOG), Amazon (AMZN), Analog Devices (ADI), and TransDigm (TDG).”
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  • AddedBroadcom
    June 2026
    “During the quarter-end rebalance of the Quality Premier strategy, we also exited Ametek (AME), added to our holdings in Broadcom (AVGO) and GE Vernova (GEV), and trimmed Alphabet (GOOG), Amazon (AMZN), Danaher (DHR), and Unilever (UL).”
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  • TrimmedTransDigm
    June 2026
    “We added to our holdings in Netflix (NFLX) and trimmed Alphabet (GOOG), Amazon (AMZN), Analog Devices (ADI), and TransDigm (TDG).”
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  • ExitedAmetek
    June 2026
    “During the quarter-end rebalance of the Quality Premier strategy, we also exited Ametek (AME), added to our holdings in Broadcom (AVGO) and GE Vernova (GEV), and trimmed Alphabet (GOOG), Amazon (AMZN), Danaher (DHR), and Unilever (UL).”
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  • AddedGE Vernova
    June 2026
    “During the quarter-end rebalance of the Quality Premier strategy, we also exited Ametek (AME), added to our holdings in Broadcom (AVGO) and GE Vernova (GEV), and trimmed Alphabet (GOOG), Amazon (AMZN), Danaher (DHR), and Unilever (UL).”
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  • TrimmedAnalog Devices
    June 2026
    “We added to our holdings in Netflix (NFLX) and trimmed Alphabet (GOOG), Amazon (AMZN), Analog Devices (ADI), and TransDigm (TDG).”
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  • New positionStandardAero
    June 2026
    “During the quarter, we initiated new investments in ASML Holding (ASML) and StandardAero (SARO).”
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  • AddedDanaher
    March 2026
    “During the quarter-end rebalance of the Quality Premier strategy, we added to our holdings in Danaher (DHR), Netflix (NFLX) and Linde plc (LIN), and trimmed Intuit (INTU) and Meta Platforms (META).”
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  • New positionQXO Inc
    March 2026
    “During the quarter, we initiated new investments in Ecolab (ECL), GE Vernova (GEV) and QXO Inc (QXO).”
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  • ExitedSAP
    March 2026
    “we decided to exit our position in the stock as the range of outcomes expanded amid growing perceived risk of disruption to traditional software from AI.”
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  • AddedNVIDIA
    March 2026
    “We added to our holdings in Broadcom (AVGO), GE Aerospace (GE), Netflix (NFLX) and NVIDIA (NVDA) and trimmed Intuit (INTU), Linde (LIN) and Taiwan Semiconductor (TSM).”
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  • TrimmedIntuit
    March 2026
    “As a result, we reduced our position to approximately 1% early in the quarter.”
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  • New positionGE Vernova
    March 2026
    “During the quarter, we initiated new investments in Ecolab (ECL), GE Vernova (GEV) and QXO Inc (QXO).”
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  • TrimmedTaiwan Semiconductor
    March 2026
    “We added to our holdings in Broadcom (AVGO), GE Aerospace (GE), Netflix (NFLX) and NVIDIA (NVDA) and trimmed Intuit (INTU), Linde (LIN) and Taiwan Semiconductor (TSM).”
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  • AddedNetflix
    March 2026
    “We added to our holdings in Broadcom (AVGO), GE Aerospace (GE), Netflix (NFLX) and NVIDIA (NVDA) and trimmed Intuit (INTU), Linde (LIN) and Taiwan Semiconductor (TSM).”
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  • New positionEcolab
    March 2026
    “During the quarter, we initiated new investments in Ecolab (ECL), GE Vernova (GEV) and QXO Inc (QXO).”
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  • AddedLinde plc
    March 2026
    “During the quarter-end rebalance of the Quality Premier strategy, we added to our holdings in Danaher (DHR), Netflix (NFLX) and Linde plc (LIN), and trimmed Intuit (INTU) and Meta Platforms (META).”
    Read the letter
  • AddedBroadcom
    March 2026
    “We added to our holdings in Broadcom (AVGO), GE Aerospace (GE), Netflix (NFLX) and NVIDIA (NVDA) and trimmed Intuit (INTU), Linde (LIN) and Taiwan Semiconductor (TSM).”
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  • AddedGE Aerospace
    March 2026
    “We added to our holdings in Broadcom (AVGO), GE Aerospace (GE), Netflix (NFLX) and NVIDIA (NVDA) and trimmed Intuit (INTU), Linde (LIN) and Taiwan Semiconductor (TSM).”
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  • TrimmedMeta Platforms
    March 2026
    “During the quarter-end rebalance of the Quality Premier strategy, we added to our holdings in Danaher (DHR), Netflix (NFLX) and Linde plc (LIN), and trimmed Intuit (INTU) and Meta Platforms (META).”
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  • ExitedSalesforce
    March 2026
    “We sold our remaining stub position in Salesforce.com (CRM), as the range of potential outcomes has widened due to the growing risk that AI will disrupt the traditional seat-based software revenue model, despite Salesforce’s efforts to aggressively build an agentic enterprise platform.”
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  • ExitedVeralto
    March 2026
    “Although we continue to regard Veralto as a high-quality business with strong competitive positions across its Water Quality and Product Identification segments, we exited the position during the quarter and reallocated capital into an opportunity we believe offers a more compelling risk/reward opportunity and stronger long-term growth prospects.”
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Companies held · 26

Every company Mar Vista has disclosed a position in across our archive, with the letter that last mentioned it.

Theses · 26

  • GE Aerospace
    June 2026

    GE Aerospace benefits from a multi-year aerospace aftermarket upcycle, defense demand, and strong execution that should support sustained revenue growth, margin expansion, and free cash flow.

    Read the full thesis
  • QXO
    June 2026

    QXO’s acquisition of TopBuild should strengthen scale, improve economics, and support margin expansion, free cash flow, and higher ROIC.

    Read the full thesis
  • Alphabet
    June 2026

    Alphabet combines resilient Search, AI-driven Cloud demand, and durable growth drivers that support attractive long-term earnings growth.

    Read the full thesis
  • Taiwan Semiconductor Manufacturing
    June 2026

    Taiwan Semiconductor Manufacturing has technological leadership and a dominant AI-chip manufacturing position that should support above-market growth and attractive long-term returns.

    Read the full thesis
  • ASML Holding
    June 2026

    ASML is a critical EUV lithography monopolist with strong switching costs and technological leadership in the AI semiconductor value chain.

    Read the full thesis
  • StandardAero
    June 2026

    StandardAero offers recurring engine MRO revenue, long-duration relationships, and barriers to entry that support durable free cash flow compounding.

    Read the full thesis
  • Johnson & Johnson
    March 2026

    Johnson & Johnson is a diversified healthcare company with accelerating pharma and MedTech growth, pipeline durability, and emerging robotic surgery optionality supporting defensive long-term prospects.

    Read the full thesis
  • GE Vernova Inc
    March 2026

    GE Vernova is a scaled power and electrification leader with a large installed base, high-margin services, and structural demand from data center power and grid modernization.

    Read the full thesis
  • Ecolab Inc
    March 2026

    Ecolab provides embedded mission-critical solutions with recurring revenues, scale advantages, and structural tailwinds from water management and regulation.

    Read the full thesis
  • QXO Incorporated
    March 2026

    QXO aims to build a scaled building-products platform through consolidation, operational improvement, and data-driven efficiencies.

    Read the full thesis
  • Microsoft
    March 2026

    Microsoft is supported by strong cash flow, Azure growth, and Copilot monetization opportunities across its enterprise customer base.

    Read the full thesis
  • SAP
    March 2026

    SAP is seen as vulnerable to AI-driven disruption of SaaS pricing, revenue durability, and gross margins.

    Read the full thesis

Letter archive · 20

2026

2025

2024

Funds · 6

  • Mar Vista US Quality5
  • Mar Vista Global Quality4
  • Mar Vista US Quality Premier4
  • Mar Vista U.S. Quality Premier Portfolio3
  • Mar Vista U.S. Quality Strategy3
  • Mar Vista US Quality Select1

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