Sands Capital acquired 2.74 Million Intercontinental Exchange shares worth $484 Million. That's 1.45% of their equity portfolio (25th largest holding). The first Intercontinental Exchange trade was made in Q1 2017. Since then Sands Capital bought shares twenty more times and sold shares on eleven occasions. The stake costed the investor $360 Million, netting the investor a gain of 35% so far.
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