Sandhill Capital Partners LLC

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 12, 2026), Sandhill Capital Partners LLC reported 104 stock positions worth $1.4 billion. Its top holding was SS SPDR BB 1-3M T-Bill ETF (BIL) at 6.4% of the portfolio, followed by Amphenol Class A (APH, 5.9%) and Palo Alto Networks (PANW, 5.3%). Compared with Q3 2025, it opened 3 new positions, sold out of 6, added to 30 and reduced 48. The biggest buy was Guidewire Software (GWRE, shares +101%) and the biggest sale Danaher (DHR, shares −98%).

Most Recent 13F
Q2 2026
Location
BUFFALO, NY
CIK
0001556245
Portfolio Value
$1.4B (Q4 2025)
SEC Filing
0001556245-26-000001 ↗ filed Feb 12, 2026

Holdings Value

0$500.0M$1.0B$1.5B Q1 2024: $1.2B Q1 2024 Q2 2024: $1.3B Q2 2024 Q3 2024: $1.4B Q3 2024 Q4 2024: $1.3B Q4 2024 Q1 2025: $1.2B Q1 2025 Q2 2025: $1.4B Q2 2025 Q3 2025: $1.4B Q3 2025 Q4 2025: $1.4B $1.4B Q4 2025 Q1 2026: $1.2B Q1 2026 Q2 2026: $1.2B Q2 2026

Holdings 104 stocks · $1.4B
BIL SS SPDR BB 1-3M T-Bill ETF 6.45% 990,791 $90.5M Add +6.5%
APH Amphenol Corp. Class A 5.90% 612,842 $82.8M Reduce -3.1%
PANW Palo Alto Networks Inc. 5.26% 400,833 $73.8M Reduce -3.3%
ISRG Intuitive Surgical Inc. 4.62% 114,484 $64.8M Reduce -2.7%
GE General Electric filed as GE AEROSPACE 4.20% 191,560 $59.0M Reduce -2.5%
SCHW Schwab (charles) Corp. 4.08% 572,960 $57.2M Reduce -2.7%
SPXC SPX Technologies Inc. 3.91% 274,503 $54.9M Reduce -2.7%
UBER Uber Technologies Inc. 3.71% 637,915 $52.1M Reduce -2.7%
USB US Bancorp 3.64% 957,291 $51.1M Reduce -3.7%
NOW ServiceNow Inc. 3.57% 327,416 $50.2M Reduce -3.1%
ANET Arista Networks Inc. 3.51% 376,227 $49.3M Reduce -2.9%
HUBB Hubbell Inc. 3.43% 108,310 $48.1M Reduce -4.2%
TYL Tyler Technologies Inc. 3.24% 100,135 $45.5M Add +11.6%
ACM Aecom 3.21% 472,172 $45.0M Reduce -3.0%
SPGI S&P Global Inc. 2.97% 79,918 $41.8M Reduce -2.5%
GWRE Guidewire Software Inc. 2.97% 207,529 $41.7M Add +100.8%
CDNS Cadence Design SYS Inc. 2.88% 129,137 $40.4M Reduce -2.5%
LIN Linde PLC 2.73% 89,933 $38.3M Reduce -2.3%
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO 2.63% 142,909 $37.0M Add +32.0%
TT Trane Technologies PLC 2.62% 94,543 $36.8M Reduce -2.6%
TTAN Servicetitan Inc. Class A 2.61% 343,650 $36.6M Add +28.0%
BKNG Booking Holdings Inc. 2.29% 6,007 $32.2M Reduce -3.0%
SGOV iShares 0-3 Month Treasury B 1.68% 234,618 $23.6M Add +103.5%
CR Crane Co. 1.23% 93,335 $17.2M Reduce -2.1%
SITE Siteone Landscape Supply Inc. 1.12% 126,212 $15.7M Reduce -48.3%
AVGO Broadcom Inc. 0.99% 40,352 $14.0M Reduce -5.8%
MSFT Microsoft Corp. 0.95% 27,708 $13.4M Add +0.8%
AAPL Apple Inc. 0.95% 49,255 $13.4M Add +0.0%
SPY SS SPDR S&P 500 ETF Trust-US 0.82% 16,910 $11.5M New
JPM JPMorgan Chase & Co. 0.76% 33,274 $10.7M Reduce -4.8%
CAT Caterpillar Inc. 0.65% 15,962 $9.1M Reduce -0.8%
AXP American Express Co. 0.57% 21,811 $8.1M Reduce -3.8%
JCI Johnson Controls Internation 0.56% 65,138 $7.8M Reduce -1.4%
BLK BlackRock Inc. 0.52% 6,820 $7.3M Reduce -0.4%
PG The Procter & Gamble Co. 0.50% 49,028 $7.0M Add +21.3%
WM Waste Management Inc. 0.43% 27,575 $6.1M Add +0.3%
CME Cme Group Inc. 0.43% 22,004 $6.0M Reduce -0.4%
GS Goldman Sachs Group Inc. 0.41% 6,594 $5.8M Reduce -1.2%
JNJ Johnson & Johnson 0.41% 27,797 $5.8M Reduce -0.8%
MCD McDonald's Corp. 0.38% 17,681 $5.4M Add +0.9%
QCOM Qualcomm Inc. 0.38% 31,061 $5.3M Reduce -0.5%
CVX Chevron Corp. 0.38% 34,565 $5.3M Reduce -0.7%
HD Home Depot Inc. 0.37% 15,131 $5.2M Add +0.7%
KO The Coca-Cola Co. 0.37% 73,973 $5.2M Reduce -0.3%
MRK Merck & Co. Inc. 0.36% 47,793 $5.0M Reduce -0.6%
V Visa Inc. Class A 0.35% 13,920 $4.9M Add +0.6%
AMZN Amazon.com Inc. 0.33% 20,147 $4.7M Reduce -0.8%
UNH Unitedhealth Group Inc. 0.30% 12,826 $4.2M Reduce -11.7%
TXN Texas Instruments Inc. 0.29% 23,739 $4.1M Reduce -0.6%
PAYX Paychex Inc. 0.28% 35,613 $4.0M Reduce -2.7%
CRM Salesforce Inc. 0.28% 14,886 $3.9M Reduce -10.9%
VZ Verizon Communications Inc. 0.22% 76,537 $3.1M Reduce -5.6%
VBIL Vanguard 0-3M T-Bill ETF 0.19% 34,912 $2.6M New
VOO Vanguard S&P 500 ETF 0.18% 4,056 $2.5M Add +59.1%
IVV iShares Core S&P 500 ETF 0.13% 2,760 $1.9M Add +1.3%
EW Edwards Lifesciences Corp. 0.10% 16,572 $1.4M No change
MMM 3M Co. 0.10% 8,536 $1.4M No change
ZBH Zimmer Biomet Holdings Inc. 0.09% 14,021 $1.3M No change
IEFA iShares Core MSCI Eafe ETF 0.08% 13,313 $1.2M Add +1.6%
SYY Sysco Corp. 0.08% 16,074 $1.2M No change
GIS General Mills Inc. 0.06% 19,159 $891K Add +12.4%
TSLA Tesla Inc. 0.06% 1,823 $820K Add +5.7%
BNL Broadstone Net Lease Inc. 0.06% 45,769 $795K No change
INTC Intel Corp. 0.05% 20,696 $764K Reduce -12.7%
VB Vanguard Most SM-Cap ETF-Usd 0.05% 2,612 $674K No change
CL Colgate-Palmolive Co. 0.04% 8,000 $632K No change
BRK.B Berkshire Hathaway Inc. Class B 0.04% 1,224 $615K Reduce -7.1%
LH Labcorp Holdings Inc. 0.04% 2,400 $602K No change
DOW Dow Inc. 0.04% 24,009 $561K Reduce -17.7%
XOM Exxon Mobil Corp. 0.04% 4,652 $560K Add +1.1%
IJH iShares Core S&P Midcap ETF 0.04% 8,235 $544K Add +1.0%
LHX L3HARRIS Technologies Inc. 0.04% 1,800 $528K No change
DHR Danaher Corp. 0.04% 2,263 $518K Reduce -98.1%
IEX Idex Corp. 0.04% 2,907 $517K No change
BITB Bitwise Bitcoin ETF 0.04% 10,635 $506K Add +204.6%
MTB M & T Bank Corp. filed as M & T BK CORP 0.03% 2,365 $477K No change
GOOGL Alphabet Inc. Class A 0.03% 1,504 $471K Add +24.0%
HON Honeywell International Inc. 0.03% 2,290 $447K No change
T AT&T Inc. 0.03% 17,772 $441K Add +6.0%
ADP Automatic Data Processing 0.03% 1,699 $437K No change
IGIB iShares 5-10Y Inv Grade Corp. 0.03% 7,407 $399K Add +9.1%
URI United Rentals Inc. 0.03% 452 $366K No change
LVMUY LVMH Moet Hennessy-Unsp ADR 0.03% 2,359 $356K No change
AVUS Avantis U.S. Equity ETF 0.02% 3,018 $337K Add +49.6%
EXR Extra Space Storage Inc. 0.02% 2,588 $337K No change
GLD SPDR Gold Shares 0.02% 838 $332K Reduce -15.9%
INTU Intuit Inc. 0.02% 497 $329K No change
MDLZ Mondelez International Inc. Class A 0.02% 5,923 $319K Reduce -14.4%
ZTS Zoetis Inc. 0.02% 2,508 $316K Reduce -8.8%
VCLT Vanguard Long-Term Corp. Bond 0.02% 4,143 $314K No change
LSBK Lake Shore Bancorp Inc. 0.02% 20,000 $293K No change
LQD Ishr Ibx Usd Invgd CB ETF-Ui 0.02% 2,621 $289K Add +8.4%
TCEHY Tencent Holdings Ltd.-Uns ADR 0.02% 3,646 $279K No change
ADBE Adobe Inc. 0.02% 762 $267K Reduce -21.7%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.02% 2,343 $267K Add +0.7%
IWM iShares Russell 2000 ETF 0.02% 1,045 $257K Add +19.2%
PH Parker Hannifin Corp. 0.02% 287 $252K No change
TFC Truist Financial Corp. 0.02% 4,818 $237K Add +1.7%
MA Mastercard Inc. Class A 0.02% 400 $228K Reduce -7.2%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.02% 745 $221K Add +2.0%
GGG Graco Inc. 0.01% 2,547 $209K Reduce -21.8%
HODL Vaneck Bitcoin ETF 0.01% 8,416 $208K No change
TRV The Travelers Cos Inc. 0.01% 710 $206K New
GANX Gain Therapeutics Inc. 0.00% 15,400 $50K No change

Portfolio Sells Q3 2025 → Q4 2025
DHR Danaher Corp. Reduce -98.1% 0.04% −1.59
ACM Aecom Reduce -3.0% 3.21% −1.23
SITE Siteone Landscape Supply Inc. Reduce -48.3% 1.12% −1.08
NOW ServiceNow Inc. Reduce -3.1% 3.57% −0.77
UBER Uber Technologies Inc. Reduce -2.7% 3.71% −0.77
PANW Palo Alto Networks Inc. Reduce -3.3% 5.26% −0.63
ANET Arista Networks Inc. Reduce -2.9% 3.51% −0.43
CDNS Cadence Design SYS Inc. Reduce -2.5% 2.88% −0.37
LIN Linde PLC Reduce -2.3% 2.73% −0.32
TT Trane Technologies PLC Reduce -2.6% 2.62% −0.24
UNH Unitedhealth Group Inc. Reduce -11.7% 0.30% −0.05
BKNG Booking Holdings Inc. Reduce -3.0% 2.29% −0.04
PAYX Paychex Inc. Reduce -2.7% 0.28% −0.04
BLK BlackRock Inc. Reduce -0.4% 0.52% −0.04
VZ Verizon Communications Inc. Reduce -5.6% 0.22% −0.03
TMDX Transmedics Group Inc. Sold out 0.00% −0.02
DHI D.R. Horton Inc. Sold out 0.00% −0.02
PGR Progressive Corp. Sold out 0.00% −0.01
GOLDEN MATRIX GROUP INC Sold out 0.00% −0.01
TXN Texas Instruments Inc. Reduce -0.6% 0.29% −0.01
MDLZ Mondelez International Inc. Class A Reduce -14.4% 0.02% −0.01
DOW Dow Inc. Reduce -17.7% 0.04% −0.01
ZTS Zoetis Inc. Reduce -8.8% 0.02% −0.01
JPM JPMorgan Chase & Co. Reduce -4.8% 0.76% −0.01
ADBE Adobe Inc. Reduce -21.7% 0.02% −0.01
GGG Graco Inc. Reduce -21.8% 0.01% −0.00
BRK.B Berkshire Hathaway Inc. Class B Reduce -7.1% 0.04% −0.00
CVX Chevron Corp. Reduce -0.7% 0.38% −0.00
INTC Intel Corp. Reduce -12.7% 0.05% −0.00
GLD SPDR Gold Shares Reduce -15.9% 0.02% −0.00
MA Mastercard Inc. Class A Reduce -7.2% 0.02% −0.00
WMLLF Wealth Minerals Ltd. Sold out 0.00% −0.00
ENZC Enzolytics Inc. Sold out 0.00% 0.00
CR Crane Co. Reduce -2.1% 1.23% +0.00
CRM Salesforce Inc. Reduce -10.9% 0.28% +0.00
AVGO Broadcom Inc. Reduce -5.8% 0.99% +0.01
CME Cme Group Inc. Reduce -0.4% 0.43% +0.01
QCOM Qualcomm Inc. Reduce -0.5% 0.38% +0.02
AMZN Amazon.com Inc. Reduce -0.8% 0.33% +0.02
KO The Coca-Cola Co. Reduce -0.3% 0.37% +0.03
HUBB Hubbell Inc. Reduce -4.2% 3.43% +0.03
GS Goldman Sachs Group Inc. Reduce -1.2% 0.41% +0.04
JNJ Johnson & Johnson Reduce -0.8% 0.41% +0.05
JCI Johnson Controls Internation Reduce -1.4% 0.56% +0.05
AXP American Express Co. Reduce -3.8% 0.57% +0.05
GE General Electric Reduce -2.5% 4.20% +0.08
MRK Merck & Co. Inc. Reduce -0.6% 0.36% +0.08
CAT Caterpillar Inc. Reduce -0.8% 0.65% +0.12
SCHW Schwab (charles) Corp. Reduce -2.7% 4.08% +0.15
SPGI S&P Global Inc. Reduce -2.5% 2.97% +0.19

Portfolio Buys Q3 2025 → Q4 2025
GWRE Guidewire Software Inc. Add +100.8% 2.97% +1.31
SGOV iShares 0-3 Month Treasury B Add +103.5% 1.68% +0.87
SPY SS SPDR S&P 500 ETF Trust-US New 0.82% +0.82
TTAN Servicetitan Inc. Class A Add +28.0% 2.61% +0.72
BIL SS SPDR BB 1-3M T-Bill ETF Add +6.5% 6.45% +0.49
AJG Arthur J Gallagher & Co. Add +32.0% 2.63% +0.29
VBIL Vanguard 0-3M T-Bill ETF New 0.19% +0.19
AAPL Apple Inc. Add +0.0% 0.95% +0.08
VOO Vanguard S&P 500 ETF Add +59.1% 0.18% +0.07
PG The Procter & Gamble Co. Add +21.3% 0.50% +0.07
BITB Bitwise Bitcoin ETF Add +204.6% 0.04% +0.02
V Visa Inc. Class A Add +0.6% 0.35% +0.02
TRV The Travelers Cos Inc. New 0.01% +0.01
MCD McDonald's Corp. Add +0.9% 0.38% +0.01
GOOGL Alphabet Inc. Class A Add +24.0% 0.03% +0.01
AVUS Avantis U.S. Equity ETF Add +49.6% 0.02% +0.01
WM Waste Management Inc. Add +0.3% 0.43% +0.01
IVV iShares Core S&P 500 ETF Add +1.3% 0.13% +0.01
IEFA iShares Core MSCI Eafe ETF Add +1.6% 0.08% +0.01
TSLA Tesla Inc. Add +5.7% 0.06% +0.00
XOM Exxon Mobil Corp. Add +1.1% 0.04% +0.00
GIS General Mills Inc. Add +12.4% 0.06% +0.00
IWM iShares Russell 2000 ETF Add +19.2% 0.02% +0.00
IGIB iShares 5-10Y Inv Grade Corp. Add +9.1% 0.03% +0.00
LQD Ishr Ibx Usd Invgd CB ETF-Ui Add +8.4% 0.02% +0.00
TFC Truist Financial Corp. Add +1.7% 0.02% +0.00
IJH iShares Core S&P Midcap ETF Add +1.0% 0.04% +0.00
IBM Intl Business Machines Corp. Add +2.0% 0.02% +0.00
DIS The Walt Disney Co. Add +0.7% 0.02% +0.00
T AT&T Inc. Add +6.0% 0.03% −0.00
TYL Tyler Technologies Inc. Add +11.6% 3.24% −0.04
MSFT Microsoft Corp. Add +0.8% 0.95% −0.04
HD Home Depot Inc. Add +0.7% 0.37% −0.05

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 98$1.2BBIL, APH, GE, TXN, SYK
Q1 2026 95$1.2BBIL, NOW, ACM, SCHW, APH
Q4 2025 104$1.4BBIL, APH, PANW, ISRG, GE
Q3 2025 107$1.4BBIL, PANW, APH, UBER, ACM
Q2 2025 101$1.4BBIL, PANW, GE, NOW, ISRG
Q1 2025 93$1.2BBIL, PANW, GE, ISRG, NOW
Q4 2024 95$1.3BBIL, PANW, NOW, ISRG, CDNS
Q3 2024 93$1.4BBIL, PANW, ISRG, NOW, GE
Q2 2024 88$1.3BBIL, PANW, TMDX, ISRG, NOW
Q1 2024 89$1.2BBIL, PANW, NOW, ISRG, TMDX