Sands Capital Technology Innovators Fund Exited Its Position in Okta (OKTA) in Q3

3 weeks ago 13

Soumya Eswaran

Mon, December 1, 2025 astatine 7:23 AM CST 3 min read

Sands Capital, an concern absorption company, released its Q3 2025 capitalist missive for the “Sands Capital Technology Innovators Fund.” A transcript of the missive tin beryllium downloaded here. Technology Innovators absorption connected pioneering businesses worldwide that service arsenic cardinal drivers oregon beneficiaries of significant, semipermanent technological changes. The money returned 8.4% (net) successful the 3rd 4th compared to a 12.5% instrumentality for the benchmark, MSCI ACWI Info Tech and Communication Services Index. Despite concentrated leadership, planetary equities appreciated successful the 3rd quarter, arsenic measured by the MSCI ACWI. The United States accounted for astir 70 percent of the index's increase, portion developed markets extracurricular the U.S. and emerging markets besides provided affirmative returns. You tin cheque the fund’s apical 5 holdings to cognize much astir its champion picks for 2025.

In its third-quarter 2025 capitalist letter, Sands Capital Technology Innovators Fund highlighted stocks specified arsenic Okta, Inc. (NASDAQ:OKTA). Okta, Inc. (NASDAQ:OKTA) is an individuality spouse that offers products and services to negociate and unafraid identities. The one-month instrumentality of Okta, Inc. (NASDAQ:OKTA) was -11.80%, and its shares mislaid 0.64% of their worth implicit the past 52 weeks. On November 28, 2025, Okta, Inc. (NASDAQ:OKTA) banal closed astatine $80.33 per share, with a marketplace capitalization of $14.161 billion.

Sands Capital Technology Innovators Fund stated the pursuing regarding Okta, Inc. (NASDAQ:OKTA) successful its 3rd 4th 2025 capitalist letter:

"Finally, we exited our concern successful Okta, Inc. (NASDAQ:OKTA) to reallocate superior to higher-conviction opportunities. Since our archetypal concern successful March 2020, Okta has faced challenges, including information breaches and a smaller-than-expected addressable market, owed successful portion to Microsoft’s bundled offerings. These issues contributed to a faster-than anticipated deceleration successful gross growth. While we remained patient, expecting improved execution, broader merchandise adoption, and a tailwind from agentic AI, we mislaid assurance successful management’s quality to found Okta arsenic the person successful identity. After a prolonged downturn crossed the bundle sector, we nary longer viewed Okta arsenic offering a compelling equilibrium of hazard and accidental comparative to different businesses successful which we clasp stronger conviction."

Okta, Inc. (NASDAQ:OKTA) is not connected our database of 30 Most Popular Stocks Among Hedge Funds. As per our database, 55 hedge money portfolios held Okta, Inc. (NASDAQ:OKTA) astatine the extremity of the 3rd quarter, which was 57 successful the erstwhile quarter. While we admit the imaginable of Okta, Inc. (NASDAQ:OKTA) arsenic an investment, we judge definite AI stocks connection greater upside imaginable and transportation little downside risk. If you're looking for an highly undervalued AI banal that besides stands to payment importantly from Trump-era tariffs and the onshoring trend, spot our escaped study connected the best short-term AI stock.