Frank Sands's NET Position Overview
Frank Sands (via Sands Capital Management, LLC) currently holds 3.73 M shares of Cloudflare, Inc. (NET) worth $735.62 M, representing 2.24% of the portfolio. First purchased in 2021-Q1, this medium-term investment has been held for 20 quarters.
Based on 13F filings, Frank Sands has maintained a strategic position in NET, demonstrating sustained confidence in this investment. Largest addition occurred in Q3 2021, adding 7.29 M shares. Largest reduction occurred in Q1 2024, reducing 4.13 M shares.
Analysis based on 13F filings available since 2013 Q2
Frank Sands's Cloudflare (NET) Holding Value Over Time
Track share changes against reported price movement
Quarterly Cloudflare (NET) Trades by Frank Sands
| Report Date | Bought/Sold (Sh.) | % Change | Qtr. End Shares | Reported Price |
|---|---|---|---|---|
| Q4 2025 | -77,032 | Reduce 2.02% | 3.73 M | $197.15 |
| Q3 2025 | -1.12 M | Reduce 22.73% | 3.81 M | $214.59 |
| Q2 2025 | -1.5 M | Reduce 23.32% | 4.93 M | $195.83 |
| Q1 2025 | -1.34 M | Reduce 17.24% | 6.43 M | $112.69 |
| Q4 2024 | +1.42 M | Add 22.41% | 7.77 M | $107.68 |
| Q3 2024 | -124,618 | Reduce 1.93% | 6.34 M | $80.89 |
| Q2 2024 | +2,880 | Add 0.04% | 6.47 M | $82.83 |
| Q1 2024 | -4.13 M | Reduce 38.96% | 6.47 M | $96.83 |
| Q4 2023 | -413,749 | Reduce 3.76% | 10.59 M | $83.26 |
| Q3 2023 | -397,153 | Reduce 3.48% | 11.01 M | $63.04 |
| Q2 2023 | -3.26 M | Reduce 22.22% | 11.4 M | $65.37 |
| Q1 2023 | -791,121 | Reduce 5.12% | 14.66 M | $61.66 |
| Q4 2022 | -502,146 | Reduce 3.15% | 15.45 M | $0.05 |
| Q3 2022 | +312,315 | Add 2.00% | 15.96 M | $55.31 |
| Q2 2022 | +2.09 M | Add 15.45% | 15.64 M | $43.75 |
| Q1 2022 | +4.73 M | Add 53.65% | 13.55 M | $119.70 |
| Q4 2021 | +495,797 | Add 5.96% | 8.82 M | $131.50 |
| Q3 2021 | +7.29 M | Add 705.06% | 8.32 M | $112.65 |
| Q2 2021 | +116,140 | Add 12.65% | 1.03 M | $105.84 |
| Q1 2021 | +917,747 | New Buy | 917,747 | $70.26 |
Frank Sands's Cloudflare Investment FAQs
Frank Sands first purchased Cloudflare, Inc. (NET) in Q1 2021, acquiring 917,747 shares, as reported in their 13F filing for that period. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.
Frank Sands has held Cloudflare, Inc. (NET) for 20 quarters since Q1 2021.
Frank Sands's largest addition to Cloudflare, Inc. (NET) was in Q3 2021, adding 8,323,377 shares worth $937.63 M.
According to the latest 13F filing for Q4 2025, Frank Sands's firm, Sands Capital Management, LLC, owns 3,731,287 shares of Cloudflare, Inc. (NET), valued at approximately $735.62 M.
As of the Q4 2025 filing, Cloudflare, Inc. (NET) represents approximately 2.24% of Frank Sands's publicly disclosed stock portfolio, making it one of their key holdings.
Frank Sands's peak holding in Cloudflare, Inc. (NET) was 15,956,268 shares, as reported at the end of Q3 2022.