What smart money is saying about Sandisk
SNDK · Technology · Computer Hardware · Market cap $257.68B
3 funds in our archive have pitched Sandisk — most recently Aristotle Atlantic Focus Growth Strategy in June 2026.
Company profile
SanDisk Corporation specializes in designing, manufacturing, and supplying storage solutions and devices leveraging advanced NAND flash technology. Its diverse product line features solid-state drives (SSDs), embedded memory solutions, removable memory cards, universal serial bus (USB) devices, and underlying wafers and components. Founded on June 1, 1988, the company maintains its principal executive offices in Milpitas, California.
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9
Reported positions
3
Bought
4
Sold
37
Letters
Position history
Every position in Sandisk on record in the archive was reported in Q2 2026, across 9 fund letters — 3 opened or added to the position, 4 trimmed or exited.
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q2 2026 | 9 | 3 | 4 | 3 |
Fund activity · 9 positions · 7 moves
- New positionMD SASS Concentrated ValueJune 2026
“We also initiated smaller positions in Entegris (ENTG), Qnity Electronics (Q), and Sandisk (SNDK), each of which represent less than 3% of the portfolio.”
Sandisk - June 2026
“NVIDIA, Micron, Broadcom, AMD, Applied Materials, Seagate, Western Digital, Corning, SiTime, TSMC, ASML, and Sandisk were among the positions that contributed to the quarter’s technology-led gains.”
Sandisk - New positionAristotle Atlantic Focus Growth StrategyJune 2026
“Sandisk We initiated Sandisk as a complementary picks-and-shovels investment opportunity tied to the AI memory bottleneck, with hard disk drives and flash memory now capacity-constrained inputs for AI data center expansion.”
Sandisk - June 2026
“Contributors: Memory, long the most brutally cyclical corner of technology, has become its tightest bottleneck, and that reversal defined the quarter. SK Hynix (+230%) and SanDisk (+164%) together contributed more than six percentage points to returns. Inference does not just consume logic: every agentic query drags high bandwidth memory and storage with it, and two years of supply discipline have collided with a step change in demand. We wrote last quarter that companies sitting on the most acute bottlenecks reap outsized rewards; memory is now the clearest 3 expression, with SK Hynix the leader in the high bandwidth memory feeding AI accelerators and SanDisk a prime beneficiary of NAND pricing power. We banked the gains, exiting both before the quarter closed.”
Sandisk - June 2026
“Discipline matters after 3 moves of this scale: triple digit re-ratings narrow the gap between price and value, and we acted, cutting our unit holdings in SanDisk by roughly three quarters and in Micron, SK Hynix and Kioxia by more than half, banking substantial profits while keeping meaningful exposure.”
Sandisk - June 2026
“Discipline matters after moves of this scale: triple digit re-ratings narrow the gap between price and value, and we acted, cutting our unit holdings in SanDisk by roughly three quarters and in Micron, SK Hynix and Kioxia by more than half, banking substantial profits while keeping meaningful exposure.”
Sandisk - June 2026
“Contributors: Memory, long the most brutally cyclical corner of technology, has become its tightest bottleneck, and that reversal defined the quarter. SK Hynix (+230%) and SanDisk (+164%) together contributed more than six percentage points to returns. Inference does not just consume logic: every agentic query drags high bandwidth memory and storage with it, and two years of supply discipline have collided with a step change in demand. We wrote last quarter that companies sitting on the most acute bottlenecks reap outsized rewards; memory is now the clearest expression, with SK Hynix the leader in the high bandwidth memory feeding AI accelerators and SanDisk a prime beneficiary of NAND pricing power. We banked the gains, exiting both before the quarter closed.”
Sandisk - New positionAristotle Atlantic Large Cap Growth StrategyJune 2026
“Sandisk We initiated Sandisk as a complementary picks-and-shovels investment opportunity tied to the AI memory bottleneck, with hard disk drives and flash memory now capacity-constrained inputs for AI data center expansion.”
Sandisk - HoldsNuance Investments Mid Cap Value StrategyJune 2026
“YTD Attribution4 1. Our underweight position in Information Technology was the primary detractor to performance in the quarter as it has been the best performing sector within the Russell Midcap® Value benchmark, up more than 80 percent year to date. In particular, the Technology Hardware, Storage & Peripherals industry was up more than 260 percent through the end of the second quarter of 2026, led by strong price appreciation in Sandisk Corporation (SNDK), Western Digital Corporation (WDC), and Hewlett Packard Enterprise Co. (HPE), none of which we owned.”
Sandisk
Also mentioned · 28
These funds discuss Sandisk — as a competitor, benchmark or comparable — without disclosing a position in it.
- MentionedBronte Capital Amalthea FundJuly 2026
“Year to date Micron has tripled. Sandisk is up 850%.”
Sandisk - MentionedMontaka Global (Montaka Global FundJune 2026
“The most significant characteristic of this annual performance was an extreme, narrow contribution from a small group of historically cyclical stocks. Metals & mining stocks rose 60%1 on average, while semiconductor stocks rose 170%2 on average. One stock, Sandisk, rose more than 4,900% over the 12 months!”
Sandisk - MentionedGuinness Global Equity Income FundJune 2026
“Memory stocks are not only leading the sector but doing so in a way that has been overwhelmingly earnings-driven rather than reliant on multiple expansion. SK Hynix, Samsung, Micron, Kioxia and Sandisk have seen some of the largest positive earnings upgrades across the sector, reflecting a much more favourable profitability outlook.”
Sandisk - MentionedGuinness Global Quality Mid Cap FundJune 2026
“• Whilst IT was the best-performing sector, providing a positive contribution to the fund from an allocation perspective, this was somewhat offset by what we didn’t own. Not owning the memory chip producer SanDisk (+54.6% in the month) was a drag, while relative weakness from our IT holdings after some very strong performances so far this year also created a drag.”
Sandisk - June 2026
“For example, SanDisk, a manufacturer of flash memory storage products, gained more than 200% during the quarter and contributed more than two percentage points to the index's return,”
Sandisk - MentionedHosking PartnersJune 2026
“We are experiencing one of the biggest momentum markets in the modern history of equities. AI spending beneficiaries have produced 85% of the market's return this year. Based on analysts' expectations, they will generate nearly half the S&P 500's earnings growth this year, and four stocks - Nvidia, Micron, Broadcom, and Sandisk - will account for 40 percentage points of that.”
Sandisk - June 2026
“Many semiconductor stocks, and other parts of the AI complex, such as hardware and storage, recorded returns in excess of 100%. Micron, Intel, and SanDisk—which together comprised a Russell 1000 Value weight of more than 4%—each more than tripled during the quarter.”
Sandisk - June 2026
“The company also remains closely tied to SanDisk through long-running NAND manufacturing partnerships, including the Yokkaichi joint venture.”
Sandisk - MentionedAntipodes Global SMID Active ETFJune 2026
“Not owning SanDisk (+257%) cost the Fund approximately 0.9% of alpha, an example of the cost of opportunities missed within these industries.”
Sandisk - MentionedHosking Partners StrategyJune 2026
“We are experiencing one of the biggest momentum markets in the modern history of equities. AI spending beneficiaries have produced 85% of the market’s return this year. Based on analysts’ expectations, they will generate nearly half the S&P 500’s earnings growth this year, and four stocks – Nvidia, Micron, Broadcom, and Sandisk – will account for 40 percentage points of that. (1) In this environment, the strategy underperformed”
Sandisk - MentionedBlue Whale Growth FundJune 2026
“Company: Sandisk Sector: Technology Company Size: $337bn Capturing the AI era’s explosive content boom The arrival of the AI era has unleashed an unprecedented wave of content creation. As generative AI produces massive volumes of high-fidelity video, imagery, code, and text at lightning speed, the demand for reliable, high-capacity data storage has skyrocketed. Solid-state memory is the essential infrastructure capturing and retaining this digital explosion. SanDisk holds a premier position in advanced flash memory, providing the robust, high-density storage solutions required to house the staggering output of modern AI applications.”
Sandisk - MentionedBaillie Gifford US Equity GrowthJune 2026
“Performance The portfolio delivered strong low-double-digit absolute returns this quarter but lagged the S&P 500 and Russell Growth indices. The attribution shows that the market has shifted from one form of narrow leadership to another: from the Magnificent Seven in 2023 and 2024 to semiconductors and memory today. Not owning memory companies such as Micron and Sandisk, whose share prices rose sharply (in the range of 200 percent plus in just three months), detracted from relative performance.”
Sandisk - June 2026
“Market Overview After a challenging first quarter that saw the S&P 500 Index decline 4.3%, markets rebounded sharply in the second quarter. The S&P 500 climbed 15.2%, driven by a surge in information technology (IT) stocks, particularly semiconductor stocks, which soared 44.0%. The ClearBridge Dividend Strategy rose nicely but lagged the exuberant gains of S&P 500 mainly due to our lower technology exposure. While no one likes to trail in sharp market rallies, diversified dividend growth portfolios tend to lag in these narrow, momentum driven markets. Our research shows, however, that these periods tend to be followed by periods of broader market participation in which diversified dividend-growth portfolios shine. Semiconductor memory stocks were the standout performers. Shares of Micron, the largest producer of storage chips, skyrocketed 240%, adding over $900 billion of market cap — more than the entire market capitalization of Exxon Mobil, Johnson & Johnson or JPMorgan Chase. Our underweight to Micron and a select group of other non-dividend- paying data center plays, like Advanced Micro Devices, Intel and SanDisk, were the largest drivers of our relative underperformance.”
Sandisk - June 2026
“The Midcap Value portfolio underperformed the Russell Midcap Value Index in the second quarter of 2026 (gross and net of fees). Technology and energy explain all of the underperformance. The strategy did not own the technology hardware and semiconductors that led the index: the hardware and storage group, a roughly 10% benchmark weight, returned +84% and the semiconductor group, a 3% weight, returned +51%. Our overweight in energy detracted as oil retreated sharply. Stock selection in healthcare was the largest positive contributor in the quarter. LARGEST INDIVIDUAL DETRACTORS – 2Q26 SanDisk was among the largest detractors because we did not own it and returned well over +100% as a constituent of our benchmark.”
Sandisk “Information technology led the global rally, with the Technology Hardware sub-sector within the MSCI Smaller Companies Index delivering a remarkable 900% return - though this was driven overwhelmingly by a single stock, SanDisk (SNDK.US), which rose roughly 4,900% over the period, underscoring just how narrow that reported return really was.”
Sandisk- June 2026
“Information technology led the global rally, with the Technology Hardware sub-sector within the MSCI Smaller Companies Index delivering a remarkable 900% return - though this was driven overwhelmingly by a single stock, SanDisk (SNDK.US), which rose roughly 4,900% over the period, underscoring just how narrow that reported return really was.”
Sandisk - June 2026
“The single largest detractor from relative performance was a stock we did not own: SanDisk, a large benchmark constituent that sits outside our market-capitalization range, rallied sharply over the quarter, and our lack of exposure weighed on results.”
Sandisk - June 2026
“SanDisk (not owned in the portfolio)”
Sandisk - MentionedOakmark FundJune 2026
Named in a table in Oakmark Fund’s letter.
Sandisk - June 2026
“Intellectual honesty requires us to address the primary driver of Russell 2500 Value performance in 2026 that was absent from our portfolio: SanDisk (SNDK). Spun off from Western Digital in February 2025, this NAND flash memory company appreciated approximately 720% year-to-date and roughly 4,000% over the trailing twelve months. At its peak, SanDisk comprised nearly 5% of the Russell 2500 Value Index and accounted for an estimated 6% of the index's year-to-date 2026 return. All driven by a single stock. The fundamental story is real. AI data centers require enormous quantities of high-performance NAND flash storage. We did not own SanDisk.”
Sandisk - MentionedBrown Advisory U.S. Value FundJune 2026
“No two quarters are ever the same in the market, but the second quarter of 2026 was one of the most unique three-month periods we can remember. During the first quarter investor fears around the potential long-term disruption from artificial intelligence (AI) rippled across various sectors of the market and called into question the terminal value of some business models. Fast forward to the second quarter, and many of those fears reversed course with investor excitement around accelerated capex spending tied to artificial intelligence driving some of the biggest sector and individual large cap moves we can ever remember witnessing. Just three months ago we wrote about the strength of the Energy sector, with a 38% total return during the first quarter vs a 2% return for the Russell 1000® Value Index overall. Amazingly those energy numbers seem almost ordinary after the Information Technology sector saw a return >80% during the second quarter vs a 13.8% return for the Index. In what is typically reserved for speculative small cap stocks during bouts of market euphoria, large cap companies such as Micron, Intel and Sandisk all saw returns of >210% in the 90-day period, adding hundreds of billions of dollars of collective market cap.”
Sandisk - MentionedHamlin Capital Management Equity and High Yield Municipal Bond StrategiesJune 2026
“Stocks exposed to the AI-driven surge in demand for memory and CPUs rose significantly, with Micron, Intel, and SanDisk all up over 200% in the quarter and accounting for nearly 5% of Value's quarterly return.”
Sandisk - MentionedCopeland Capital Management Dividend Growth StrategyJune 2026
“The three stocks mentioned are SanDisk, Bloom Energy, and Ciena Corp.”
Sandisk - June 2026
“• SanDisk (SNDK), engages in the development, manufacture, and provision of storage devices and solutions based on NAND flash technology. Its products include solid state drives, memory cards, and USB flash drives. The stock rallied during the quarter on improving memory cycle sentiment and AI‑driven storage demand. The portfolio did not own the position which resulted in a drag on relative performance versus the benchmark.”
Sandisk - June 2026
“Similar to recent quarters, the Fund’s technology exposure— companies we do not own, and to a lesser extent, companies we do own—continued to be the most notable detractor from relative performance. However, the magnitude was even greater with the sector driving a majority of the Fund’s underperformance in 2Q26. Not having exposure to a wide range of technology companies benefiting from AI-related capital expenditures, such as Micron, Sandisk, Western Digital and many others, was a very meaningful headwind to relative performance.”
Sandisk - MentionedDiamond Hill Large Cap FundJune 2026
“Similar to recent quarters, the Fund’s technology exposure— companies we do not own, and to a lesser extent, companies we do own—continued to be the most notable detractor from relative performance. However, the magnitude was even greater with the sector driving nearly all the Fund’s underperformance in 2Q26. Not having exposure to a wide range of technology companies benefiting from AI-related capital expenditures, such as Micron, Sandisk, Western Digital and many others, was a very meaningful headwind to relative performance.”
Sandisk - MentionedScharf Investments Quality Value StrategyJune 2026
“The earnings trajectories for other leading semiconductor companies including Samsung, SK Hynix, Sandisk, and AMD are similar.”
Sandisk - MentionedHL Global Small Companies EquityMarch 2026
Named in a table in HL Global Small Companies Equity’s letter.
Sandisk
Fund coverage · 3 theses
Sandisk is a picks-and-shovels play on the AI memory bottleneck, with constrained supply, pricing power, and customer contracts supporting upside.
Read the full thesis- Blue Whale Growth FundJune 2026
Sandisk is positioned to benefit from surging AI-driven demand for high-capacity, durable flash storage.
Read the full thesis - Liontrust Global Technology FundJune 2026
SanDisk benefits from AI-driven NAND demand, explosive margin expansion, and the return of multiyear supply contracts with strategic customers.
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