Mar Vista Investment Partners' Mar Vista U.S. Quality Strategy returned 1.45% net in the third quarter of 2026, trailing gains of 1.79% for the Russell 1000 Index and 2.30% for the S&P 500 Index. Information technology, consumer discretionary and financial stock selection contributed positively, while industrials, materials and healthcare detracted. The firm opened no new positions, increased its NVIDIA holding and reduced its Apple position. Mar Vista cited NVIDIA's competitive position in AI infrastructure, including its CUDA software ecosystem, as demand for AI computing continued. The firm also highlighted Microsoft and TransDigm, while cautioning that higher rates, energy costs and elevated valuations require disciplined risk management and close attention to returns on AI capital spending.