Mar Vista Investment Partners, LLCan investment management company, released its “MarVista US Quality Strategy” fourth quarter 2025 investor letter. There may be a copy of the letter Downloaded here. US equities experienced strong momentum in 2025, marking their second straight year of double-digit gains. After plunging into bear territory in April, the market witnessed one of the sharpest recoveries. Megacap stocks and AI-powered companies narrowly dominate the market as they dominate the landscape. Against this backdrop, Mar Vista’s US Quality Strategy reported +0.20% net phase gains in Q4 2025 versus a +2.41% return for the Russell 1000® Index and a +2.65% return for the S&P 500® Index. Stock selection in the communications services, consumer discretionary, and financials sectors was favorable to its performance, while stock selection in the information technology, materials, and healthcare sectors detracted from its performance. The letter also notes that, in 2026, markets will need to strike a balance between strong fundamentals and increased economic uncertainty. Also, please check the fund’s top five holdings to know its best picks in 2025.
In its fourth quarter 2025 investor letter, Mar Vista US Quality Strategy highlighted stocks like Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE: TSM ). Taiwan Semiconductor Manufacturing Co., Ltd. (NYSE: TSM ) manufactures, packages, tests, and sells integrated circuits and other semiconductor devices. The one-month return for Taiwan Semiconductor Manufacturing Co., Ltd. (NYSE:TSM) was 19.59%, and its shares gained 60.16% over the past 52 weeks. On January 13, 2026, Taiwan Semiconductor Manufacturing Co., Ltd. (NYSE: TSM ) stock closed at 1,331.21 per share, with a market capitalization of $1.72 trillion.
Mar Vista US Quality Strategy stated the following about Taiwan Semiconductor Manufacturing Co., Ltd. (NYSE: TSM ) in its fourth quarter 2025 investor letter.
“Taiwan Semiconductor Manufacturing Co., Ltd . TSM is the world’s leading semiconductor foundry due to its leadership in producing the world’s most advanced chips that power the world’s most sophisticated supercomputers, personal computers and mobile devices. It is one of only two manufacturers operating at the leading edge of semiconductor process technology. This is reinforced by decades of technological leadership, economies of scale, proprietary process know-how, and accumulated manufacturing expertise, creating a strong competitive moat that is difficult for other foundries to replicate. As a result, TSM achieves structurally higher gross margins than its peers through technology-driven pricing power and superior manufacturing efficiency.
