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RegExp("[?&]notifications=1(&|#|$)");"desktop"===y&&i&&b.test(window.location.search)&&(i.checked=!0)};be("ybar-mod-notification",(function(e){var t={isUH3:"crunch"===e.getConfig().ytheme,notifContainer:document.getElementById("notification-container"),notifBadge:document.getElementById("notif-badge"),notifMenu:document.getElementById("ybarNotificationMenu"),notifMenuOpener:document.querySelector("#ybarNotificationMenu + label"),notifDropdown:document.getElementById("notifDropdownContainer"),tooltipContainer:document.querySelector(".".concat(Vn)),notifLabel:document.querySelector(".".concat($n))};t.notifDropdown&&ro(e,t)}))}()}};]]>Soumya EswaranTue, Sep 16, 2025, 3:17 PM 2 min readSands Capital, an investment management company, released its “Sands Capital Select Growth Strategy” Q2 2025 investor letter. A copy of the letter can be downloaded here.  U.S. large-cap growth equities recovered from a sharp sell-off in early April by delivering strong returns in the second quarter. The quarterly performance was driven by muted inflation, strong corporate earnings, and improving sentiment around artificial intelligence (AI) and global trade. The portfolio returned 27.7% in the quarter, outperforming the benchmark Russell 1000 Growth Index's 17.8% gain. You can check the fund’s top 5 holdings to know more about its best picks for 2025.In its second-quarter 2025 investor letter, Sands Capital Select Growth Strategy highlighted stocks such as Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE). Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) is a biopharmaceutical company that focuses on the treatment of rare and ultra-rare genetic diseases. The one-month return of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) was -2.36%, and its shares lost 51.15% of their value over the last 52 weeks. On September 15, 2025, Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) stock closed at $29.00 per share, with a market capitalization of $2.795 billion.Sands Capital Select Growth Strategy stated the following regarding Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) in its second quarter 2025 investor letter:"Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) is a leading developer of treatments for rare diseases, with a track record of strong execution and thoughtful pipeline investment. Shares were little changed in the second quarter as investors awaited an interim analysis from its Phase 3 trial in osteogenesis imperfecta, a rare genetic disorder. The combination of Ultragenyx’s expanding commercial franchise and its underrecognized pipeline presents what we view as a compelling long-term opportunity."Ultragenyx (RARE) Falls 26% as New Treatment Fails to Get FDA Green LightUltragenyx Pharmaceutical Inc. (NASDAQ:RARE) is not on our list of 30 Most Popular Stocks Among Hedge Funds. According to our database, 60 hedge fund portfolios held Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) at the end of the second quarter, compared to 55 in the previous quarter. Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) generated $166 million in revenue, representing 13% growth over the second quarter of 2024. While we acknowledge the potential of Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,622.91 +7.63 (+0.12%)Dow 3045,913.87 +30.42 (+0.07%)Nasdaq22,384.94 +36.19 (+0.16%)Russell 20002,405.13 +8.07 (+0.34%)VIX15.69 0.00 (0.00%)Gold3,727.70 +8.70 (+0.23%)PortfolioSign in to access your portfolioSign inTop gainersWBTN WEBTOON Entertainment Inc. 19.30 +4.34 (+29.01%)FERG Ferguson Enterprises Inc. 235.10 +20.60 (+9.60%)AMKR Amkor Technology, Inc. 28.11 +2.42 (+9.44%)RZLV Rezolve AI PLC 8.16 +0.44 (+5.69%)TMC TMC the metals company Inc. 5.78 +0.35 (+6.35%)Top losersRKLB Rocket Lab Corporation 51.15 -2.89 (-5.35%)KC Kingsoft Cloud Holdings Limited 15.69 -0.65 (-4.01%)WBD Warner Bros. 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