Sands Capital’s Q3 2025 investor letter for the Technology Innovators Fund focuses on pioneering global businesses driving long-term technological changes. The fund returned 8.4% (net) compared to the benchmark’s 12.5% in the third quarter, with U.S. equities leading the index’s overall increase. Check the fund’s top 5 holdings for 2025 picks.

Figma, Inc. (NYSE:FIG) is a digital design platform highlighted in Sands Capital’s Q3 2025 investor letter. The stock experienced a one-month return of -25.33% and a three-month loss of 48.82%. As of November 28, 2025, Figma, Inc. (NYSE:FIG) closed at $35.97 per share, with a market capitalization of $17.826 billion.

Sands Capital’s investor letter praised Figma, Inc. (NYSE:FIG) as a leading digital design platform with a dominant market share in the UI/UX space. The company’s innovative culture and strong execution have positioned it as a key productivity tool for designers, with a user base exceeding 13 million monthly users. Figma’s leadership in design and user experience gives it a competitive edge as the market evolves.

Figma, Inc. (NYSE:FIG) isn’t among the 30 Most Popular Stocks Among Hedge Funds, with 38 hedge fund portfolios holding the stock at the end of Q3 2025. Figma, Inc. (NYSE:FIG) reported revenue of $274 million in Q3 2025, reflecting a 38% increase from the previous year. While Figma shows promise, other AI stocks may offer greater upside potential with lower risk.

Read more at Yahoo Finance: What Makes Figma (FIG) an Investment Choice?