Mar Vista
Mar Vista U.S. Quality Strategy
US Mega-cap Quality
Mar 2026 → Jun 2026
Our archive holds 3 letters from this strategy, behind 6 investment theses and positions in 26 companies. Every quote below is copied verbatim from the letter it came from.
3 letters in a year — follow all of Mar Vista for every strategy.
What it bought and sold
We added to our holdings in Netflix (NFLX) and trimmed Alphabet (GOOG), Amazon (AMZN), Analog Devices (ADI), and TransDigm (TDG).
During the quarter, we initiated new investments in ASML Holding (ASML) and StandardAero (SARO).
We added to our holdings in Netflix (NFLX) and trimmed Alphabet (GOOG), Amazon (AMZN), Analog Devices (ADI), and TransDigm (TDG).
We added to our holdings in Netflix (NFLX) and trimmed Alphabet (GOOG), Amazon (AMZN), Analog Devices (ADI), and TransDigm (TDG).
We added to our holdings in Netflix (NFLX) and trimmed Alphabet (GOOG), Amazon (AMZN), Analog Devices (ADI), and TransDigm (TDG).
Accordingly, we exited our remaining stub position and reallocated the capital to a business where we see stronger long-term secular tailwinds and a more attractive risk-reward profile, consistent with our disciplined capital allocation process.
We added to our holdings in Netflix (NFLX) and trimmed Alphabet (GOOG), Amazon (AMZN), Analog Devices (ADI), and TransDigm (TDG).
During the quarter, we initiated new investments in ASML Holding (ASML) and StandardAero (SARO).
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).
As a result, we reduced our position to approximately 1% early in the quarter.
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).
We also sold our remaining position in SAP ADR (SAP) during the quarter, as the range of outcomes expanded amid growing perceived risk of disruption to traditional software from AI.
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).
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).
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).
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.
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.
Also held
Its investment theses
- ASML HoldingJun 2026ASML is a critical EUV lithography monopolist with strong switching costs and technological leadership in the AI semiconductor value chain.
- StandardAeroJun 2026StandardAero offers recurring engine MRO revenue, long-duration relationships, and barriers to entry that support durable free cash flow compounding.
- Johnson & JohnsonMar 2026Johnson & Johnson is a diversified healthcare company with accelerating pharma and MedTech growth, pipeline durability, and emerging robotic surgery optionality supporting defensive long-term prospects.
- GE Vernova IncMar 2026GE 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.
- Ecolab IncMar 2026Ecolab provides embedded mission-critical solutions with recurring revenues, scale advantages, and structural tailwinds from water management and regulation.
- IntuitMar 2026Intuit has an AI-driven expert platform and strong “done-for-you” products that position it well for the shift toward agentic software.