Sands Capital Management, LLC
Net seller this quarter
$26.9B
70
-$2.73B
47.6%
Holdings
| Company | Value | % of portfolio | % of company | POSITION CHANGE qoq % | First reported |
|---|---|---|---|---|---|
| Q2 2026 | |||||
 NVDA | $2.81B | 10.45% | 0.06% | -22.3% | Q2 2022 |
 TSM | $1.87B | 6.96% | 0.02% | -33.0% | Q3 2015 |
 GOOGL | $1.75B | 6.49% | 0.04% | -4.5% | Q4 2015 |
 AMZN | $1.16B | 4.30% | 0.05% | -27.7% | Q2 2013 |
 ASML | $1.06B | 3.94% | 0.14% | -16.6% | Q2 2013 |
 BE | $886M | 3.29% | 1.00% | +64.5% | Q1 2026 |
 AXON | $830M | 3.08% | 1.82% | -5.4% | Q1 2023 |
 SHOP | $827M | 3.07% | 1.84% | -19.0% | Q1 2017 |
 V | $816M | 3.03% | 0.13% | -14.2% | Q2 2013 |
 SPOT | $809M | 3.00% | 0.86% | -1.8% | Q3 2024 |
 NET | $795M | 2.95% | Not reported | -11.5% | Q1 2021 |
 STX | $696M | 2.58% | 0.32% | +35.5% | Q1 2026 |
 MELI | $642M | 2.38% | 0.75% | -20.5% | Q2 2013 |
 MU | $608M | 2.26% | 0.05% | New | Q2 2026 |
 CVNA | $557M | 2.07% | Not reported | -20.1% | Q2 2021 |
 META | $546M | 2.03% | Not reported | -24.2% | Q2 2013 |
 PWR | $540M | 2.01% | 0.50% | +19.8% | Q4 2025 |
 ICE | $499M | 1.85% | 0.72% | -7.5% | Q1 2017 |
 ISRG | $498M | 1.85% | 0.35% | -5.2% | Q2 2013 |
 LRCX | $491M | 1.82% | 0.09% | +50.2% | Q4 2020 |
 MSFT | $488M | 1.81% | 0.02% | -14.4% | Q3 2014 |
 CRS | $485M | 1.80% | 1.58% | -4.5% | Q4 2025 |
 DASH | $429M | 1.59% | Not reported | -41.2% | Q4 2020 |
 APP | $429M | 1.59% | 0.25% | -14.4% | Q4 2024 |
 XYZ | $428M | 1.59% | Not reported | +2.2% | Q1 2020 |
 AVGO | $426M | 1.58% | 0.02% | -19.7% | Q1 2025 |
 AMD | $391M | 1.45% | 0.04% | New | Q2 2026 |
 SPCX | $389M | 1.44% | Not reported | New | Q2 2026 |
 NFLX | $381M | 1.42% | 0.13% | -43.3% | Q4 2015 |
 IOT | $368M | 1.37% | Not reported | -27.5% | Q4 2021 |
 SNDK | $348M | 1.29% | 0.10% | New | Q2 2026 |
 CSL | $290M | 1.08% | 2.01% | -13.0% | Q2 2025 |
 SE | $287M | 1.07% | 1.70% | -36.6% | Q4 2017 |
 ARGX | $277M | 1.03% | 0.48% | -12.3% | Q3 2025 |
 ONON | $265M | 0.98% | 2.52% | +18.3% | Q2 2025 |
 DDOG | $260M | 0.97% | 1.28% | -28.9% | Q2 2022 |
 SPHR | $235M | 0.87% | Not reported | New | Q2 2026 |
 ARM | $228M | 0.85% | 0.06% | New | Q2 2026 |
 BLDR | $204M | 0.76% | 2.12% | -12.9% | Q1 2025 |
 NU | $167M | 0.62% | Not reported | -63.7% | Q4 2021 |
 FWONK | $144M | 0.53% | Not reported | -3.2% | Q1 2022 |
 MCK | $139M | 0.51% | 0.15% | -8.8% | Q1 2025 |
 APH | $135M | 0.50% | 0.06% | -5.2% | Q1 2025 |
 KSPI | $133M | 0.49% | 0.80% | -3.5% | Q1 2024 |
 CPNG | $131M | 0.49% | Not reported | -17.6% | Q4 2022 |
 TDG | $119M | 0.44% | 0.16% | -5.0% | Q1 2017 |
 RARE | $105M | 0.39% | 3.20% | -1.8% | Q2 2023 |
 RACE | $104M | 0.39% | 0.15% | -2.6% | Q1 2023 |
 WCN | $102M | 0.38% | 0.24% | -4.0% | Q2 2021 |
 WWD | $65.4M | 0.24% | 0.26% | New | Q2 2026 |
| Q1 2026 | |||||
| NVDA | $3.15B | 12.38% | 0.07% | -9.8% | Q2 2022 |
| TSM | $1.98B | 7.77% | 0.02% | -14.1% | Q3 2015 |
| GOOGL | $1.47B | 5.78% | 0.04% | +3.8% | Q4 2015 |
| AMZN | $1.4B | 5.49% | 0.06% | -9.7% | Q2 2013 |
| SHOP | $1.06B | 4.16% | 2.27% | -6.0% | Q1 2017 |
| NFLX | $905M | 3.55% | 0.22% | -6.1% | Q4 2015 |
| SPOT | $870M | 3.41% | 0.87% | +22.1% | Q3 2024 |
| ASML | $845M | 3.32% | 0.17% | -4.5% | Q2 2013 |
| V | $837M | 3.29% | 0.15% | -10.4% | Q2 2013 |
| MELI | $822M | 3.23% | 0.94% | -6.7% | Q2 2013 |
| NET | $756M | 2.96% | Not reported | -1.9% | Q1 2021 |
| META | $732M | 2.87% | Not reported | +1.9% | Q2 2013 |
| ICE | $690M | 2.71% | 0.77% | -20.3% | Q1 2017 |
| CVNA | $666M | 2.61% | Not reported | -13.3% | Q2 2021 |
| AXON | $664M | 2.61% | 1.94% | -2.8% | Q1 2023 |
| ISRG | $609M | 2.39% | 0.37% | -4.0% | Q2 2013 |
| DASH | $594M | 2.33% | Not reported | -12.0% | Q4 2020 |
| MSFT | $566M | 2.22% | 0.02% | -38.1% | Q3 2014 |
| IOT | $496M | 1.95% | Not reported | -18.1% | Q4 2021 |
| NU | $493M | 1.94% | Not reported | -22.7% | Q4 2021 |
| AVGO | $434M | 1.70% | 0.03% | -33.7% | Q1 2025 |
| SE | $392M | 1.54% | 2.68% | -14.0% | Q4 2017 |
| APP | $387M | 1.52% | 0.29% | -33.6% | Q4 2024 |
| PWR | $344M | 1.35% | 0.42% | +8.6% | Q4 2025 |
| XYZ | $332M | 1.30% | Not reported | -7.1% | Q1 2020 |
| CRS | $324M | 1.27% | 1.66% | +32.4% | Q4 2025 |
| CSL | $307M | 1.20% | 2.27% | -5.0% | Q2 2025 |
| ARGX | $248M | 0.97% | 0.55% | -4.7% | Q3 2025 |
| BE | $241M | 0.95% | 0.63% | New | Q1 2026 |
| BLDR | $216M | 0.85% | 2.44% | -5.0% | Q1 2025 |
| ONON | $215M | 0.84% | 2.13% | -4.7% | Q2 2025 |
| STX | $208M | 0.82% | 0.24% | New | Q1 2026 |
 FLUT | $203M | 0.80% | 1.13% | -4.7% | Q1 2024 |
 TTEK | $201M | 0.79% | 2.57% | -5.0% | Q4 2024 |
| MCK | $174M | 0.68% | 0.16% | +15.5% | Q1 2025 |
| CPNG | $173M | 0.68% | Not reported | -11.1% | Q4 2022 |
| DDOG | $166M | 0.65% | 1.80% | -7.1% | Q2 2022 |
| LRCX | $161M | 0.63% | 0.06% | Not reported | Q4 2020 |
 RBLX | $154M | 0.61% | 0.38% | -14.4% | Q3 2024 |
| FWONK | $133M | 0.52% | Not reported | -25.1% | Q1 2022 |
| KSPI | $117M | 0.46% | 0.83% | -18.6% | Q1 2024 |
| TDG | $109M | 0.43% | 0.17% | -8.6% | Q1 2017 |
| WCN | $103M | 0.40% | 0.25% | -34.3% | Q2 2021 |
| APH | $102M | 0.40% | 0.07% | -8.4% | Q1 2025 |
| RACE | $97.4M | 0.38% | 0.16% | -7.2% | Q1 2023 |
| RARE | $67.3M | 0.26% | 3.27% | -7.8% | Q2 2023 |
 BSX | $46.2M | 0.18% | 0.05% | -8.6% | Q1 2019 |
 YMM | $41.3M | 0.16% | Not reported | -18.8% | Q4 2024 |
 GRAB | $33.4M | 0.13% | Not reported | -18.9% | Q3 2024 |
 LLY | $30.2M | 0.12% | 0.00% | New | Q1 2026 |
| Q4 2025 | |||||
| NVDA | $3.74B | 11.37% | 0.08% | -3.8% | Q2 2022 |
| TSM | $2.07B | 6.31% | 0.03% | -26.2% | Q3 2015 |
| AMZN | $1.72B | 5.22% | 0.07% | -11.6% | Q2 2013 |
| GOOGL | $1.55B | 4.70% | 0.04% | +3.5% | Q4 2015 |
| SHOP | $1.53B | 4.65% | 2.42% | +37.0% | Q1 2017 |
| MSFT | $1.19B | 3.63% | 0.03% | -13.8% | Q3 2014 |
| V | $1.08B | 3.30% | 0.16% | -23.3% | Q2 2013 |
| CVNA | $1.03B | 3.14% | Not reported | +44.4% | Q2 2021 |
| MELI | $1.03B | 3.12% | 1.01% | 0.0% | Q2 2013 |
| DASH | $1.02B | 3.10% | Not reported | +11.8% | Q4 2020 |
| APP | $986M | 3.00% | 0.43% | +43.9% | Q4 2024 |
| NFLX | $940M | 2.86% | 0.24% | -10.6% | Q4 2015 |
| AXON | $914M | 2.78% | 2.01% | +11.6% | Q1 2023 |
| ICE | $891M | 2.71% | 0.97% | -3.1% | Q1 2017 |
| SPOT | $854M | 2.60% | 0.71% | -5.0% | Q3 2024 |
| META | $828M | 2.52% | Not reported | -9.6% | Q2 2013 |
| ISRG | $780M | 2.37% | 0.39% | +2.7% | Q2 2013 |
| NU | $744M | 2.26% | Not reported | -12.1% | Q4 2021 |
| NET | $736M | 2.24% | Not reported | -2.0% | Q1 2021 |
| AVGO | $732M | 2.23% | 0.04% | +2.6% | Q1 2025 |
| ASML | $717M | 2.18% | 0.17% | +26.6% | Q2 2013 |
| SE | $702M | 2.13% | 3.12% | +12.7% | Q4 2017 |
| IOT | $678M | 2.06% | Not reported | -6.8% | Q4 2021 |
 NOW | $589M | 1.79% | 0.37% | -38.3% | Q2 2016 |
| FLUT | $449M | 1.37% | 1.19% | -1.9% | Q1 2024 |
| XYZ | $386M | 1.17% | Not reported | -48.9% | Q1 2020 |
| CSL | $310M | 0.94% | 2.36% | +13.9% | Q2 2025 |
| ONON | $308M | 0.94% | 2.24% | -2.0% | Q2 2025 |
 IRTC | $302M | 0.92% | 5.26% | -24.0% | Q3 2020 |
| ARGX | $300M | 0.91% | 0.58% | +2046.6% | Q3 2025 |
| BLDR | $284M | 0.86% | 2.49% | +13.5% | Q1 2025 |
| RBLX | $258M | 0.78% | 0.45% | -8.4% | Q3 2024 |
| PWR | $243M | 0.74% | 0.39% | New | Q4 2025 |
| CPNG | $243M | 0.74% | Not reported | -6.4% | Q4 2022 |
| TTEK | $235M | 0.71% | 2.69% | -2.4% | Q4 2024 |
 HDB | $224M | 0.68% | 0.04% | -1.2% | Q1 2017 |
| DDOG | $206M | 0.63% | 1.94% | -20.1% | Q2 2022 |
| FWONK | $205M | 0.62% | Not reported | +3.4% | Q1 2022 |
| CRS | $196M | 0.60% | 1.25% | New | Q4 2025 |
| WCN | $169M | 0.52% | 0.38% | -18.4% | Q2 2021 |
| KSPI | $152M | 0.46% | 1.02% | +18.5% | Q1 2024 |
| MCK | $143M | 0.43% | 0.14% | +10.9% | Q1 2025 |
| TDG | $137M | 0.42% | 0.18% | +10.6% | Q1 2017 |
 ROP | $128M | 0.39% | 0.27% | -18.3% | Q2 2019 |
| APH | $119M | 0.36% | 0.07% | +10.5% | Q1 2025 |
| RACE | $115M | 0.35% | 0.17% | +23.2% | Q1 2023 |
 SAP | $95.7M | 0.29% | 0.03% | -10.5% | Q2 2013 |
| RARE | $80.2M | 0.24% | 3.61% | -7.5% | Q2 2023 |
 CDNS | $78.8M | 0.24% | 0.09% | -24.1% | Q2 2022 |
| BSX | $76.8M | 0.23% | 0.05% | Not reported | Q1 2019 |
| Q3 2025 | |||||
| NVDA | $3.89B | 10.72% | 0.09% | -3.4% | Q2 2022 |
| TSM | $2.58B | 7.13% | 0.04% | +8.2% | Q3 2015 |
| AMZN | $1.85B | 5.10% | 0.08% | -8.8% | Q2 2013 |
| MSFT | $1.48B | 4.09% | 0.04% | -3.0% | Q3 2014 |
| V | $1.37B | 3.79% | 0.21% | -0.1% | Q2 2013 |
| NFLX | $1.34B | 3.71% | 0.26% | -1.0% | Q4 2015 |
| MELI | $1.19B | 3.29% | 1.01% | -0.7% | Q2 2013 |
| GOOGL | $1.16B | 3.20% | 0.04% | +54.6% | Q4 2015 |
| NOW | $1.15B | 3.16% | 0.60% | -11.5% | Q2 2016 |
| DASH | $1.09B | 3.02% | Not reported | -16.0% | Q4 2020 |
| SPOT | $1.08B | 2.98% | 0.76% | +14.2% | Q3 2024 |
| AXON | $1.04B | 2.86% | 1.83% | -10.5% | Q1 2023 |
| SHOP | $1.03B | 2.84% | 1.76% | -7.4% | Q1 2017 |
| META | $1.02B | 2.81% | Not reported | +6.3% | Q2 2013 |
| ICE | $957M | 2.64% | 1.00% | +6.9% | Q1 2017 |
| SE | $873M | 2.41% | 2.77% | -14.0% | Q4 2017 |
| XYZ | $839M | 2.31% | Not reported | +12.2% | Q1 2020 |
| NET | $817M | 2.25% | Not reported | -22.7% | Q1 2021 |
| NU | $810M | 2.23% | Not reported | -7.2% | Q4 2021 |
| IOT | $764M | 2.11% | Not reported | +6.4% | Q4 2021 |
| APP | $731M | 2.02% | 0.30% | +24.4% | Q4 2024 |
| AVGO | $680M | 1.88% | 0.04% | +11.8% | Q1 2025 |
| CVNA | $638M | 1.76% | Not reported | +87.7% | Q2 2021 |
| ISRG | $600M | 1.65% | 0.38% | +77.0% | Q2 2013 |
| FLUT | $540M | 1.49% | 1.21% | +0.2% | Q1 2024 |
| ASML | $512M | 1.41% | 0.13% | -0.3% | Q2 2013 |
| RBLX | $482M | 1.33% | 0.50% | -3.1% | Q3 2024 |
 TEAM | $422M | 1.16% | Not reported | +2.1% | Q2 2018 |
| IRTC | $385M | 1.06% | 6.94% | -23.3% | Q3 2020 |
| CPNG | $355M | 0.98% | Not reported | -8.1% | Q4 2022 |
 AJG | $339M | 0.93% | 0.43% | -2.4% | Q1 2025 |
 DXCM | $332M | 0.92% | 1.27% | -50.4% | Q1 2020 |
| BLDR | $295M | 0.81% | 2.20% | +139.1% | Q1 2025 |
| ONON | $287M | 0.79% | 2.34% | +46.7% | Q2 2025 |
| CSL | $279M | 0.77% | 2.03% | +99.3% | Q2 2025 |
| DDOG | $270M | 0.74% | 2.42% | -31.7% | Q2 2022 |
 ORCL | $263M | 0.73% | 0.03% | New | Q3 2025 |
| TTEK | $240M | 0.66% | 2.75% | +38.1% | Q4 2024 |
| HDB | $211M | 0.58% | 0.04% | +7.4% | Q1 2017 |
| FWONK | $210M | 0.58% | Not reported | +5.4% | Q1 2022 |
| WCN | $208M | 0.57% | 0.46% | +5.6% | Q2 2021 |
| ROP | $175M | 0.48% | 0.33% | +7.3% | Q2 2019 |
| KSPI | $134M | 0.37% | 0.87% | -2.3% | Q1 2024 |
| TDG | $123M | 0.34% | 0.17% | +7.4% | Q1 2017 |
| RACE | $122M | 0.34% | 0.14% | +3.3% | Q1 2023 |
| MCK | $121M | 0.33% | 0.13% | +7.7% | Q1 2025 |
| SAP | $118M | 0.32% | 0.04% | +52.1% | Q2 2013 |
| CDNS | $117M | 0.32% | 0.12% | +7.7% | Q2 2022 |
| RARE | $113M | 0.31% | 3.91% | -4.4% | Q2 2023 |
 VG | $106M | 0.29% | Not reported | -4.7% | Q1 2025 |