Owning top businesses for the long-term doesn’t mean turning a blind eye to the risks and rewards of market rotation. While Main Street is just now hearing about Nvidia for the first time (it’s up nearly 3,000% over the last 5-years), most investors know chip stocks (like Nvidia) are notoriously cyclical and (despite powerful long-term megatrends, like AI) 50% pullbacks are not uncommon. In this report, we countdown our top 10 growth stocks (July edition) with a special focus on market cycle risks and outstanding opportunities with big long-term upside.