Suncoast Equity Exits Uber Position to Fund ASML Increase

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Summary · why it matters

Suncoast Equity Management sold its small Uber Technologies position following second quarter results to fund an increase in ASML, the firm said in its Q3 2026 investor letter for its U.S. Equity Large Cap Select Growth Strategy. The firm said Uber's quarter was operationally solid, with gross bookings up 24% and operating profits up 33%, but third quarter earnings guidance came in modestly below expectations. Suncoast said Uber was performing roughly in line with its investment thesis, but that on a relative basis ASML is more attractive given its near term momentum and its long term competitive position as the sole provider of cutting-edge semiconductor wafer lithography. Uber closed at $68.45 per share on October 07, 2026, reflecting a market capitalization of $139.81 billion, after declining 4.81% over the past month and 28.28% over the past 52 weeks. The strategy advanced 4.2% after fees in the third quarter, compared to 2.3% for the S&P 500, and has risen 14.5% after fees since March.

Impact on assets 2

Semiconductors▲
ASML Holding N.V.
ASML
▲ PositiveCompetitionrelevance

Suncoast increased its ASML position, citing its near-term momentum and long-term competitive position as the sole provider of cutting-edge semiconductor wafer lithography.

Robotics & Physical AI▼
Uber Technologies Inc
UBER
▼ NegativeCapitalrelevance

Suncoast sold its Uber position after Q3 earnings guidance came in modestly below expectations, despite solid gross bookings and operating profit growth.

Off-coverage companies 1

Suncoast Equity Managementi
Private± Mixedrelevance

Suncoast is the firm whose portfolio moves are described; no external driver affects it.