LongNVDAJun 2026
NVIDIA
NVIDIA's first-quarter revenue grew 85 percent and earnings per share grew 131 percent, reinforcing the durability of AI infrastructure spending. Sands expects demand to broaden…
Sands Capital Management, LLC - Global Growth
Unconstrained concentrated global growth strategy seeking businesses with sustainable competitive advantages across developed and emerging markets.$15B AUM13 published ideas
Global Growth takes an unconstrained approach to finding high-growth businesses anywhere in the world, using Sands Capital's six-part investment framework. At June 30, 2026 the strategy held 36 businesses and reported an expected holding period of 5+ years.
Ideas from Sands Capital Management, LLC - Global Growth
LongLENSKARTJun 2026
Lenskart Solutions
Lenskart is India's largest eyewear retailer by market share and operates a vertically integrated, technology-driven model with more than 2,000 stores across over 400 cities…
LongSPCXJun 2026
Space Exploration Technologies
SpaceX was purchased as Global Growth's first investment in the nascent space economy. Reusable launch technology has reduced costs and increased launch frequency, while the…
Long000660Jun 2026
SK hynix
SK hynix is benefiting as AI inference and agentic workloads increase demand across high-bandwidth memory, conventional DRAM, and NAND. Physical constraints are limiting supply…
LongBEJun 2026
Bloom Energy
Bloom Energy supplies fuel-cell systems that can provide onsite power to AI data centers facing grid and turbine constraints. Oracle's New Mexico site is expected to deploy about…
LongNFLXJun 2026
Netflix
Netflix has faced weak sentiment as short-form video and user-generated content continue taking viewing time from premium streaming. Sands nevertheless sees evidence of pricing…
LongICEJun 2026
Intercontinental Exchange
Intercontinental Exchange provides exchange, clearing, fixed-income data, and mortgage infrastructure. Investor concern about AI disruption and mortgage sensitivity has…
LongISRGJun 2026
Intuitive Surgical
Intuitive Surgical is the leading robotic-surgery platform and delivered first-quarter results above consensus across revenue, earnings, margins, procedures, and robot…
LongSPOTJun 2026
Spotify Technology
Spotify's shares declined after management guided to lower near-term margins because of increased operating expenses. Sands interprets the spending as investment in future…
LongSHOPJun 2026
Shopify
Shopify delivered 34 percent revenue growth, 35 percent gross-merchandise-volume growth, and 66 percent payments penetration in the first quarter. Investors focused instead on…
LongARMJun 2026
Arm Holdings
Arm was purchased because Sands expects agentic AI to create a material inflection in CPU demand. CPUs are better suited than GPUs to scheduling, memory management, tool…
LongTSMJun 2026
Taiwan Semiconductor Manufacturing Company
TSMC is positioned at a critical bottleneck in advanced AI-chip manufacturing. First-quarter gross margin exceeded expectations, and Sands believes the improvement reflects…
LongASMLJun 2026
ASML Holding
ASML supplies the lithography systems required for advanced semiconductor manufacturing. Sands believes lithography capacity could become one of the hardest constraints on AI…
Letters covered
- Global Growth Quarterly ReportJune 30, 2026
Source PDFs are not republished here; only extracted ideas and quotes.