Sands Capital Management
NET icon

Sands Capital Management’s Cloudflare NET Stock Holding History

Sands Capital Management’s Portfolio NET Stock Details NET Fund Activity
Bought
Maintained
Sold
Quarter Market Value Status Shares Change in
Stake 		Trade Value Portfolio Weight Portfolio Position
2026
Q1 		$756M Sell
3,661,749
-69,538
-2% -$13.3M 2.96% 11
2025
Q4 		$736M Sell
3,731,287
-77,032
-2% -$16.3M 2.24% 19
2025
Q3 		$817M Sell
3,808,319
-1,120,555
-23% -$229M 2.25% 18
2025
Q2 		$965M Sell
4,928,874
-1,498,572
-23% -$218M 2.77% 13
2025
Q1 		$724M Sell
6,427,446
-1,338,608
-17% -$177M 2.46% 16
2024
Q4 		$836M Buy
7,766,054
+1,421,670
+22% +$139M 2.47% 16
2024
Q3 		$513M Sell
6,344,384
-124,618
-2% -$10M 1.56% 24
2024
Q2 		$536M Buy
6,469,002
+2,880
+0% +$232K 1.57% 24
2024
Q1 		$626M Sell
6,466,122
-4,127,520
-39% -$374M 1.75% 22
2023
Q4 		$882M Sell
10,593,642
-413,749
-4% -$28.9M 2.68% 16
2023
Q3 		$694M Sell
11,007,391
-397,153
-3% -$25.4M 2.36% 16
2023
Q2 		$746M Sell
11,404,544
-3,258,457
-22% -$194M 2.31% 17
2023
Q1 		$904M Sell
14,663,001
-791,121
-5% -$43.3M 2.98% 13
2022
Q4 		$699M Sell
15,454,122
-502,146
-3% -$24.8M 2.64% 15
2022
Q3 		$883M Buy
15,956,268
+312,315
+2% +$18.5M 3.31% 9
2022
Q2 		$684M Buy
15,643,953
+2,093,425
+15% +$151M 2.37% 15
2022
Q1 		$1.62B Buy
13,550,528
+4,731,354
+54% +$493M 3.73% 7
2021
Q4 		$1.16B Buy
8,819,174
+495,797
+6% +$83.1M 2.15% 20
2021
Q3 		$938M Buy
8,323,377
+7,289,490
+705% +$871M 1.56% 23
2021
Q2 		$109M Buy
1,033,887
+116,140
+13% +$9.61M 0.19% 61
2021
Q1 		$64.5M Buy
+917,747
New +$70.7M 0.12% 63

Other funds holding NET

Capital World Investors
Capital World Investors Los Angeles, California $733B AUM 35.63% 1-Year Est. Return
BlackRock
BlackRock New York $5.72T AUM 30.48% 1-Year Est. Return
VPM
Vanguard Portfolio Management Malvern, Pennsylvania $1.91T AUM
Baillie Gifford & Co
Baillie Gifford & Co Edinburgh, United Kingdom $97.9B AUM 20.73% 1-Year Est. Return
Morgan Stanley
Morgan Stanley New York $1.66T AUM 25.57% 1-Year Est. Return
VCM
Vanguard Capital Management Malvern, Pennsylvania $4.04T AUM
Fidelity Investments
Fidelity Investments Boston, Massachusetts $1.9T AUM 41.92% 1-Year Est. Return
Capital International Investors
Capital International Investors Los Angeles, California $427B AUM 29.17% 1-Year Est. Return
State Street
State Street Boston, Massachusetts $2.9T AUM 29.55% 1-Year Est. Return
Geode Capital Management
Geode Capital Management Boston, Massachusetts $1.61T AUM 30.72% 1-Year Est. Return

Sands Capital Management's NET Position: Q1 2026 in Review

Sands Capital Management reduced its Cloudflare (NET) stake by 1.9% in Q1 2026, selling an estimated $13.3M and leaving 3,661,749 shares worth $756M. The position accounts for 2.96% of the portfolio, ranked #11.

Sands Capital Management first reported a position in NET in Q1 2021 and has held it in 21 quarters since. The position peaked at $1.62B in Q1 2022. 1,132 funds tracked by Wall St. Rank hold NET as of Q1 2026.

  • Sands Capital Management held 3,661,749 shares of Cloudflare worth $756M as of Q1 2026.
  • Sands Capital Management sold 69,538 Cloudflare shares in Q1 2026, an estimated $13.3M.
  • Cloudflare made up 2.96% of Sands Capital Management's portfolio in Q1 2026, its #11 holding.
  • Sands Capital Management first reported a position in Cloudflare in Q1 2021 and has held it in 21 quarters since.
  • Sands Capital Management's Cloudflare position peaked at $1.62B in Q1 2022.
  • 1,132 funds tracked by Wall St. Rank held Cloudflare as of Q1 2026.

Based on Sands Capital Management's 13F filing for Q1 2026, filed 8 May 2026.