LongCRSJun 2026
Carpenter Technology
Carpenter Technology supplies specialty nickel alloys to the aerospace industry and is benefiting from a multiyear production recovery. Fiscal third-quarter results showed…
Sands Capital Management, LLC - Select Growth
Concentrated long-only U.S. growth strategy focused on businesses benefiting from disruptive innovation and positive structural change.$11.6B AUM15 published ideas
Select Growth focuses primarily on U.S. businesses at the forefront of structural change, applying six investment criteria centered on sustainable growth, competitive advantage, financial strength, and valuation. The strategy held 30 businesses at June 30, 2026 and states an expected holding period of 5+ years.
Ideas from Sands Capital Management, LLC - Select Growth
LongSPHRJun 2026
Sphere Entertainment
Sphere Entertainment was initiated as an exposure to immersive live entertainment. Sands sees the Las Vegas Sphere as evidence that the venue can achieve high utilization and…
LongSTXJun 2026
Seagate Technology
Seagate is a global leader in mass-capacity data storage and is benefiting from improving supply-demand conditions for hard disk drives. AI-related workloads are increasing the…
LongTSMJun 2026
Taiwan Semiconductor Manufacturing Company
Taiwan Semiconductor occupies a bottleneck position in leading-edge semiconductor manufacturing and is the scaled manufacturing partner for many advanced AI chips. Demand remains…
LongLRCXJun 2026
Lam Research
Lam Research is a critical supplier of semiconductor etch and deposition equipment. Revenue grew 24 percent and adjusted earnings per share grew 42 percent year over year in the…
LongNVDAJun 2026
NVIDIA
NVIDIA continues to show robust demand for accelerated computing, with first-quarter revenue up 85 percent and earnings per share up 131 percent. The opportunity is broadening…
LongICEJun 2026
Intercontinental Exchange
Intercontinental Exchange operates major exchanges, clearinghouses, and mortgage infrastructure, and Sands believes its fundamentals remain solid despite share-price weakness…
LongSHOPJun 2026
Shopify
Shopify remains a leading commerce platform with strong merchant and enterprise growth opportunities. Investors focused on rising large language model costs tied to Sidekick and…
LongSPOTJun 2026
Spotify Technology
Spotify's shares weakened after management guided to lower near-term margins because of increased operating expenses. Sands interprets the spending as investment in future…
LongIOTJun 2026
Samsara
Samsara develops connected hardware and software for industrial operations and continues to execute despite valuation pressure across vertical software. Revenue growth remained…
LongAMDJun 2026
Advanced Micro Devices
AMD provides high-performance CPUs, GPUs, and adaptive computing and has emerged as a scaled alternative to incumbent providers. Demand for compute is rising as generative AI…
LongBEJun 2026
Bloom Energy
Bloom Energy gives the portfolio exposure to data-center power, which Sands sees as an increasingly important bottleneck in the AI buildout. Its solid oxide fuel cells provide…
LongMUJun 2026
Micron Technology
Micron was added to increase exposure to memory, which Sands views as a critical bottleneck in AI infrastructure. Agentic AI requires greater context, faster retrieval, and more…
LongSNDKJun 2026
SanDisk
SanDisk was added as another way to participate in the memory and storage bottleneck created by AI. Agentic systems require larger amounts of context, faster retrieval, and…
LongSPCXJun 2026
Space Exploration Technologies
Sands initiated SpaceX as an investment in the nascent space economy. Reusable launch technology has reduced launch costs and increased flight frequency, while Starlink adds a…
Letters covered
- Select Growth Quarterly ReportJune 30, 2026
Source PDFs are not republished here; only extracted ideas and quotes.