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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Themes | Quick Take |
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Buyside Digest is not affiliated with, and does not endorse, Mar Vista US Quality. This analysis is provided for institutional research purposes only and is not investment advice.
"Mar Vista's U.S. Quality strategy returned 12.71% net in Q2 2026, underperforming benchmarks as market leadership broadened beyond technology. The manager maintains conviction in high-quality businesses with durable competitive advantages, adding ASML and StandardAero while exiting Intuit."
Mar Vista's U.S. Quality strategy returned 12.71% net-of-fees in Q2 2026, underperforming the Russell 1000 Index and S&P 500 Index which returned 15.14% and 15.20% respectively. U.S. equities advanced despite an increasingly complex macroeconomic backdrop, with economic growth remaining resilient and market leadership gradually broadening. Artificial intelligence remained the dominant investment theme, but investor focus shifted from funding AI infrastructure toward identifying businesses capable of converting investments into durable earnings growth and competitive advantages. Top contributors were GE Aerospace, Amphenol, and Taiwan Semiconductor Manufacturing, while Netflix, Intuit, and QXO detracted. The manager initiated positions in ASML Holding and StandardAero, exited Intuit, added to Netflix, and trimmed Alphabet, Amazon, Analog Devices, and TransDigm. Looking ahead, the manager believes earnings growth, disciplined capital allocation, and business execution will become the primary drivers of long-term returns. While geopolitical uncertainty, inflation, and evolving monetary policy remain potential sources of volatility, the manager expects companies with durable competitive advantages, pricing power, and strong balance sheets to distinguish themselves. The investment philosophy remains focused on high-quality businesses with exceptional management teams and the ability to compound intrinsic value over many years.
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