Sands Capital
Sands Capital Select Growth
US Large-cap Growth
Jun 2025 → Dec 2025
Our archive holds 3 letters from this strategy, behind 10 investment theses and positions in 10 companies. Every quote below is copied verbatim from the letter it came from.
3 letters in a year — follow all of Sands Capital for every strategy.
Its investment theses
- Netflix, Inc.Dec 2025Netflix is the leading streaming platform that could enhance engagement and pricing power through strategic studio ownership despite antitrust risk.
- Sea LimitedDec 2025Sea Limited is a Southeast Asian internet platform investing to strengthen competitiveness with potential for significant revenue and EBITDA growth by 2030.
- Spotify Technology S.A.Dec 2025Spotify Technology is the leading audio streaming platform integrating AI and benefiting from improved label agreements and pricing power.
- Quanta Services, Inc.Dec 2025Quanta Services, Inc. is the leading U.S. grid contractor positioned to benefit from multidecade electrification and AI-driven power infrastructure upgrades.
- Carpenter Technology CorporationDec 2025Carpenter Technology Corporation supplies specialty nickel alloys in a high-barrier industry with improving pricing power and persistent supply-demand tightness.
- Alphabet Inc.Sep 2025Alphabet is a leading global internet company leveraging AI and extensive consumer reach through Google and YouTube to enhance targeted advertising and expand into new markets.
- Intercontinental ExchangeSep 2025Intercontinental Exchange (ICE) is poised for long-term growth with strong underlying results and accelerating profitability in its Mortgage Technology division, despite short-term volatility in the broader market.
- Oracle CorporationSep 2025Oracle is emerging as a leader in AI infrastructure, with significant commitments from major AI companies signaling its shift to a top provider in the cloud market.
- Arthur J. Gallagher & Co.Jun 2025Arthur J. Gallagher (AJG) is the largest middle-market commercial insurance broker in the U.S. and third-largest globally, leveraging acquisitions and technology for sustainable growth in a resilient market.
- CarvanaJun 2025Carvana is transforming the fragmented used car industry by providing a superior online purchasing experience, aiming to capture a significant share of the market through convenience, transparency, and competitive pricing.