SBUX - Mar Vista Q1 2024 Strategic Growth Commentary

2024-06-19 11:25:00 ET

Summary

• Mar Vista Investment Partners is a registered investment adviser. The Firm offers investment advisory services to individuals, pension and profit-sharing plans, trusts, estates, corporations, as well as other institutional clients.
• Mar Vista’s Strategic Growth strategy returned +6.68% net-of-fees in the first quarter of 2024.
• The first quarter’s top contributors were Walt Disney, TransDigm, and Amazon. The top detractors were Adobe, Nike, and GXO Logistics.
• We established a new investment in Equifax and added capital to Adobe, Amazon, Danaher, Johnson & Johnson, Mettler-Toledo, and Starbucks.
• The stock market’s early surge surpassed even optimistic predictions.

Commentary

The first-quarter performance of the S&P 500® ( SP500, SPX ) was its best since 2019. Resilient corporate profits, enthusiasm around AI and expectations for interest rate cuts drove stock prices higher. The economy continues to defy expectations and recession worries have weakened....

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