Sands Capital released its “Sands Capital Global Growth Strategy” Q2 2025 investor letter, showing a 21.7% return in the quarter, outperforming the MSCI ACWI. The fund’s top 5 holdings reveal its best picks for 2025.

Airbnb, Inc. (NASDAQ: ABNB) was highlighted in Sands Capital’s Q2 2025 letter, with a one-month return of -2.64%. The stock closed at $121.66 per share on September 16, 2025, with a market cap of $74.485 billion.

Sands Capital Global Growth Strategy exited its position in Airbnb, Inc. (NASDAQ: ABNB) due to slowing growth and underwhelming new initiatives. Despite potential in the travel sector, the stock’s premium valuation and uncertainty led to its removal from the portfolio.

Read more at Yahoo Finance: Sands Capital Global Growth Fund Sold Airbnb (ABNB) as Top-line Growth Decelerated