Sands Capital released its Q3 2025 investor letter, reporting U.S. large-cap growth equities’ recovery from April’s sell-off. Strong corporate earnings, AI enthusiasm, and Fed policy easing expectations drove gains, with a 6.3% portfolio return (net) compared to the benchmark’s 10.5%. Check the fund’s top 5 holdings for 2025’s best picks.

In Q3 2025, Sands Capital Select Growth Strategy highlighted DoorDash, Inc. (NASDAQ:DASH), a San Francisco commerce platform connecting merchants, consumers, and contractors. DASH’s one-month return was -26.34%, with shares gaining 9.83% over 52 weeks. On November 26, 2025, DASH stock closed at $195.98, with a $84.467 billion market cap.

DoorDash, Inc. (NASDAQ:DASH) is the leading US food delivery platform by market share. Despite not being among the 30 most popular stocks among hedge funds, 100 hedge fund portfolios held DASH at Q2’s end. Sands Capital acknowledges DASH’s potential but sees greater upside in select AI stocks with less downside risk.

Read more at Yahoo Finance: Here’s Sands Capital Select Growth Strategy’s View on DoorDash (DASH)