Sands Capital released its third-quarter 2025 investor letter for the Global Growth Fund, which saw a -2.0% return compared to MSCI ACWI’s 7.6% gain. The fund’s top 5 holdings can be checked for more details on its best picks for 2025.

One of the highlighted stocks in Sands Capital’s letter was Carvana Co. (NYSE:CVNA), an e-commerce platform for buying and selling used cars. CVNA saw a one-month return of 38.04% and its shares gained 95.34% over the last 52 weeks, closing at $455.18 per share on December 16, 2025.

Sands Capital Global Growth Fund praised Carvana Co. (NYSE:CVNA) as the world’s largest ecommerce used car retailer by revenue, aiming to revolutionize the fragmented and emotional experience of buying used cars. The company’s vertically integrated platform offers convenience, transparency, and competitive prices, driving strong margin expansion over time.

Carvana Co. (NYSE:CVNA) saw an increase in hedge fund portfolios holding its stock, with 109 portfolios in the third quarter. While CVNA shows investment potential, some AI stocks may offer greater upside with less downside risk. Investors seeking undervalued AI stocks can explore free reports for potential opportunities.

Read more at Yahoo Finance: Do You Believe in the Upward Potential of Carvana (CVNA)?