Frank Sands Reduces Shopify Inc. Holdings by 38.31% in Q2 2025

Exploring the Strategic Moves of Sands Capital Management

Frank Sands (Trades, Portfolio) recently submitted the 13F filing for the second quarter of 2025, providing insights into his investment moves during this period. Frank M. Sands, Jr., CFA is the Chief Executive Officer and Chief Investment Officer of Sands Capital Management, an investment management firm focused on investing in quality growth businesses throughout the world. He spends most of his time on investment research and decision making, as well as business strategy. Sands Capital Management was founded by his father, Frank M. Sands, Sr. in 1992. Frank Sands (Trades, Portfolio), Jr. joined the firm in 2000 after working for six years as a research analyst and portfolio manager for Fayez Sarofim & Co., an institutional investment management firm based in Houston, Texas. Since joining Sands Capital Management, working alongside his father, the firm has continued to produce strong investment results for its clients. Sands Jr. earned a BA from Washington & Lee University, an MS from Johns Hopkins University and an MBA from the Darden School at the University of Virginia. Sands Capital believes that over time, stock prices reflect the earnings growth of their underlying businesses. Their team is dedicated to identifying the relatively small number of truly exceptional growth businesses that they expect to own for many years. The firm has two primary concentrated growth strategies: Select Growth, emphasizing rapidly growing innovative businesses, and Global Growth, emphasizing rapidly growing business all over the world.

Warning! GuruFocus has detected 5 Warning Signs with NVDA.Frank Sands Reduces Shopify Inc. Holdings by 38.31% in Q2 2025

Summary of New Buy

Frank Sands (Trades, Portfolio) added a total of 3 stocks, among them:

The most significant addition was On Holding AG (NYSE:ONON), with 4,614,347 shares, accounting for 0.69% of the portfolio and a total value of $240.18 million. The second largest addition to the portfolio was Carlisle Companies Inc (NYSE:CSL), consisting of 426,360 shares, representing approximately 0.46% of the portfolio, with a total value of $159.20 million. The third largest addition was Palo Alto Networks Inc (NASDAQ:PANW), with 154,863 shares, accounting for 0.09% of the portfolio and a total value of $31.69 million.

Key Position Increases

Frank Sands (Trades, Portfolio) also increased stakes in a total of 25 stocks, among them:

The most notable increase was Intercontinental Exchange Inc (NYSE:ICE), with an additional 2,620,310 shares, bringing the total to 5,313,039 shares. This adjustment represents a significant 97.31% increase in share count, a 1.38% impact on the current portfolio, with a total value of $974.78 million. The second largest increase was Arthur J. Gallagher & Co (NYSE:AJG), with an additional 918,618 shares, bringing the total to 1,121,249. This adjustment represents a significant 453.35% increase in share count, with a total value of $358.93 million.

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Summary of Sold Out

Frank Sands (Trades, Portfolio) completely exited 12 holdings in the second quarter of 2025, as detailed below:

Uber Technologies Inc (NYSE:UBER): Frank Sands (Trades, Portfolio) sold all 3,913,222 shares, resulting in a -0.97% impact on the portfolio. Nike Inc (NYSE:NKE): Frank Sands (Trades, Portfolio) liquidated all 3,754,580 shares, causing a -0.81% impact on the portfolio.

Key Position Reduces

Frank Sands (Trades, Portfolio) also reduced positions in 37 stocks. The most significant changes include:

Reduced Shopify Inc (NASDAQ:SHOP) by 4,653,206 shares, resulting in a -38.31% decrease in shares and a -1.51% impact on the portfolio. The stock traded at an average price of $99.95 during the quarter and has returned 39.39% over the past 3 months and 41.15% year-to-date. Reduced Amazon.com Inc (NASDAQ:AMZN) by 1,864,520 shares, resulting in a -16.81% reduction in shares and a -1.21% impact on the portfolio. The stock traded at an average price of $197.77 during the quarter and has returned 6.24% over the past 3 months and 2.36% year-to-date.

Portfolio Overview

At the second quarter of 2025, Frank Sands (Trades, Portfolio)'s portfolio included 66 stocks, with top holdings including 9.78% in NVIDIA Corp (NASDAQ:NVDA), 5.81% in Amazon.com Inc (NASDAQ:AMZN), 5.56% in Taiwan Semiconductor Manufacturing Co Ltd (NYSE:TSM), 4.35% in Netflix Inc (NASDAQ:NFLX), and 4.22% in Microsoft Corp (NASDAQ:MSFT).

The holdings are mainly concentrated in 8 of the 11 industries: Technology, Consumer Cyclical, Communication Services, Financial Services, Healthcare, Industrials, Energy, and Basic Materials.Frank Sands Reduces Shopify Inc. Holdings by 38.31% in Q2 2025

This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.

This article first appeared on GuruFocus.

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