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
Q2 		$795M Sell
3,239,504
-422,245
-12% -$92.4M 2.95% 11
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 $846B AUM 46.74% 1-Year Est. Return
BlackRock
BlackRock New York $6.73T AUM 46.02% 1-Year Est. Return
Vanguard Portfolio Management
Vanguard Portfolio Management Malvern, Pennsylvania $2.22T AUM
Morgan Stanley
Morgan Stanley New York $1.89T AUM 35.08% 1-Year Est. Return
Baillie Gifford & Co
Baillie Gifford & Co Edinburgh, United Kingdom $110B AUM 4.8% 1-Year Est. Return
Vanguard Capital Management
Vanguard Capital Management Malvern, Pennsylvania $4.68T AUM
Fidelity Investments
Fidelity Investments Boston, Massachusetts $2.3T AUM 54.33% 1-Year Est. Return
Capital International Investors
Capital International Investors Los Angeles, California $484B AUM 34.9% 1-Year Est. Return
State Street
State Street Boston, Massachusetts $3.37T AUM 44.26% 1-Year Est. Return
Geode Capital Management
Geode Capital Management Boston, Massachusetts $1.88T AUM 44.46% 1-Year Est. Return

Sands Capital Management's NET Position: Q2 2026 in Review

Sands Capital Management reduced its Cloudflare (NET) stake by 12% in Q2 2026, selling an estimated $92.4M and leaving 3,239,504 shares worth $795M. The position accounts for 2.95% of the portfolio, ranked #11.

Sands Capital Management first reported a position in NET in Q1 2021 and has held it in 22 quarters since. The position peaked at $1.62B in Q1 2022. 1,223 funds tracked by Wall St. Rank hold NET as of Q2 2026.

  • Sands Capital Management held 3,239,504 shares of Cloudflare worth $795M as of Q2 2026.
  • Sands Capital Management sold 422,245 Cloudflare shares in Q2 2026, an estimated $92.4M.
  • Cloudflare made up 2.95% of Sands Capital Management's portfolio in Q2 2026, its #11 holding.
  • Sands Capital Management first reported a position in Cloudflare in Q1 2021 and has held it in 22 quarters since.
  • Sands Capital Management's Cloudflare position peaked at $1.62B in Q1 2022.
  • 1,223 funds tracked by Wall St. Rank held Cloudflare as of Q2 2026.

Based on Sands Capital Management's 13F filing for Q2 2026, filed 13 Aug 2026.