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Sands Capital Technology Innovators Fund's investment thesis on Palo Alto Networks, Inc. ($PANW) — Q2 2026 | Buyside Digest

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$PANWNASDAQPalo Alto Networks, Inc.

BULL

Sands Capital Technology Innovators Fund—PANW

Fund Letter

Q2 2026

Published July 31, 2026

View Fund Profile

$362.09USD

+8.7% vs last month

$363.86Pitched

-0.5% since pitch

Market Cap$290.9B

P/E (TTM)N/A

52-Wk RangeN/A

Div. YieldN/A

Technical Chart

From the Fund Letter

Sands Capital Technology Innovators delivered a 26.9 percent net return in Q2 2026, underperforming its benchmark by 4.2 percentage points as leadership broadened across the semiconductor sector beyond the fund's concentrated mega-cap AI chip positions. The fund's core...

— Michael Clarke, Thomas Trentman

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