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Suncoast Equity Management, an SEC-registered Investment Advisory, disclosed the sale of its position in Uber Technologies, Inc. (NYSE: UBER) following the company's second-quarter results.
The firm stated that the proceeds were used to increase its holding in ASML, a decision driven by Uber's third-quarter earnings guidance, which was described as modestly below expectations despite strong operational performance.
In its Q3 2026 investor letter for the U.S. Equity Large Cap Select Growth Strategy, Suncoast Equity Management detailed the rationale behind the exit.
The strategy advanced 4.2% after fees in the third quarter, outperforming the S&P 500's 2.3% return.
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