Sands Capital Select Growth Fund Sold DoorDash’s (DASH) in Q2
Sands Capital, a prominent investment management firm, disclosed in its Q2 2026 investor letter that it had sold DoorDash, Inc. (NASDAQ:DASH) from its Select Growth Fund. The letter emphasized that the fund's inclusion of DoorDash, Inc. was due to its status as a high-quality business and a key player in U.S. online food ordering and delivery platforms.
At the time of the sale, DoorDash, Inc. (NASDAQ:DASH) was trading at $226.24 per share, marking a 8.87% gain over the past month but a 9.06% decline over the past 52 weeks. The fund's portfolio, which targets U.S. businesses driving significant structural changes through disruptive innovation, returned 23.2% in the quarter, outpacing the Russell 1000 Growth Index's 16.7% gain.
Despite this success, Sands Capital Select Growth Fund chose to reallocate capital towards AI infrastructure beneficiaries and other idiosyncratic growth opportunities, deeming DoorDash, Inc. less advantageous in the current market climate.
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