Sands Capital released its Q3 2025 investor letter for the Technology Innovators Fund, which returned 8.4% in the third quarter compared to a benchmark of 12.5%. The fund focuses on pioneering businesses driving long-term technological changes, with top holdings in the United States and global markets. CrowdStrike Holdings, Inc. (NASDAQ: CRWD), a cybersecurity provider, saw a one-month return of -7.75% and gained 46.82% over the last 52 weeks, closing at $509.16 per share on November 28, 2025. Sands Capital exited its position in CRWD to invest in other high-growth businesses, such as Figma and Duolingo, for better return potential.

Despite being held by 66 hedge fund portfolios, CrowdStrike Holdings, Inc. (NASDAQ: CRWD) is not among the 30 most popular stocks among hedge funds. While acknowledging CRWD’s potential, Sands Capital believes certain AI stocks offer greater upside potential with less downside risk, recommending undervalued AI stocks that benefit from Trump-era tariffs and onshoring trends for significant growth.

Read more at Yahoo Finance: Here’s Why Sands Capital Technology Innovators Fund Sold CrowdStrike Holdings (CRWD)