Sands Capital
Sands Capital Technology Innovators
Mega-cap Technology
Jun 2025 → Dec 2025
Our archive holds 3 letters from this strategy, behind 6 investment theses and positions in 23 companies. Every quote below is copied verbatim from the letter it came from.
3 letters in a year · follow all of Sands Capital for every strategy.
What it bought and sold
We exited our position in monday.com to reallocate capital toward businesses where we have higher conviction in their ability to generate long-term, above-average growth.
Also held
Its investment theses
- BroadcomDec 2025Broadcom is a critical AI infrastructure supplier with leadership in ethernet networking and custom accelerators benefiting from scaling compute demands.
- Palantir TechnologiesDec 2025Palantir Technologies is an operational AI platform with deep integration and broad budgets exposure, benefiting from AI adoption and government modernization.
- Duolingo Inc.Sep 2025Duolingo is the leading global language-learning app with potential for increased monetization by targeting a larger audience with AI-powered tools.
- FigmaSep 2025Figma is a leading digital design platform with a dominant market share and strong potential for growth in an evolving landscape, particularly as thoughtful design remains a key differentiator.
- Palo Alto NetworksJun 2025Palo Alto Networks is a leading cybersecurity platform with strong growth potential in Next-Generation Security, driven by the increasing importance of AI in cybersecurity.
- SpotifyJun 2025Spotify is the leading audio streaming service with significant market share, inelastic demand, and strong pricing power, poised for gross and operating margin improvement over the next five years.