Sands Capital’s “Sands Capital Global Growth Fund” investor letter for Q3 2025 showed a -2.0% return compared to 7.6% for MSCI ACWI. The fund’s top 5 holdings include Shopify Inc. (NASDAQ: SHOP), a commerce technology company with a one-month return of 11.74%. Shares closed at $163.14 on December 16, 2025.

In Q3 2025, Shopify Inc. (NASDAQ: SHOP) saw a 32% revenue increase year-over-year. While 91 hedge funds held Shopify Inc. (NASDAQ: SHOP) at the end of the quarter, some believe other AI stocks offer more upside potential with less downside risk. Explore our report on the best short-term AI stock for more information.

Read more at Yahoo Finance: Shopify (SHOP) Surged Following the Earnings Release