Sands Capital Alternatives, LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), Sands Capital Alternatives, LLC reported 20 stock positions worth $408.9 million. Its top holding was Klaviyo Class A (KVYO) at 25.5% of the portfolio, followed by Nu Holdings Ltd./Cayman Isl-A (NU, 17.9%) and DoorDash Class A (DASH, 17.0%). Compared with Q4 2024, it opened 1 new position, sold out of 2, added to 4 and reduced 7. The biggest buy was a new position in Beta Bionics (BBNX) and the biggest sale Klaviyo Class A (KVYO, shares −1%).
- Most Recent 13F
- Q2 2026
- Location
- ARLINGTON, VA
- CIK
- 0001846444
- Portfolio Value
- $408.9M (Q1 2025)
- SEC Filing
- 0001846444-25-000005 ↗ filed May 14, 2025
Holdings Value
Holdings 20 stocks · $408.9M
| KVYO Klaviyo Inc. Class A | 25.48% | 3,443,515 | $104.2M | Reduce -0.8% |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 17.94% | 7,164,355 | $73.4M | Add +2.0% |
| DASH DoorDash Inc. Class A | 17.02% | 380,704 | $69.6M | Reduce -6.5% |
| BBNX Beta Bionics Inc. | 9.29% | 3,103,782 | $38.0M | New |
| IKT Inhibikase Therapeutics Inc. | 5.86% | 10,950,000 | $24.0M | No change |
| CPNG Coupang Inc. | 4.52% | 843,476 | $18.5M | Reduce -8.8% |
| MNDY Monday.com Ltd. | 2.97% | 49,908 | $12.1M | Add +3.4% |
| DDOG Datadog Inc. Class A | 2.86% | 117,930 | $11.7M | Add +20.6% |
| IOT Samsara Inc. Class A | 2.38% | 253,432 | $9.7M | Add +27.6% |
| TARS Tarsus Pharmaceuticals Inc. | 2.14% | 170,000 | $8.7M | No change |
| TOST Toast Inc. Class A | 1.71% | 210,611 | $7.0M | Reduce -9.0% |
| CRWD CrowdStrike Holdings Inc. Class A | 1.34% | 15,560 | $5.5M | Reduce -9.0% |
| ACRV Acrivon Therapeutics Inc. | 1.05% | 2,122,605 | $4.3M | No change |
| TXG 10X Genomics Inc. Class A | 1.03% | 481,770 | $4.2M | No change |
| PATH Uipath Inc. Class A | 1.00% | 395,855 | $4.1M | Reduce -75.0% |
| SNOW Snowflake Inc. | 0.96% | 26,828 | $3.9M | Reduce -31.2% |
| ABOS Acumen Pharmaceuticals Inc. | 0.92% | 3,417,075 | $3.8M | No change |
| BIOA Bioage Labs Inc. | 0.72% | 786,353 | $3.0M | No change |
| CADL Candel Therapeutics Inc. | 0.56% | 405,837 | $2.3M | No change |
| TSHA Taysha Gene Therapies Inc. | 0.25% | 724,873 | $1.0M | No change |
Portfolio Sells Q4 2024 → Q1 2025
| KVYO Klaviyo Inc. Class A | Reduce -0.8% | 25.48% | −5.65 |
| PATH Uipath Inc. Class A | Reduce -75.0% | 1.00% | −3.38 |
| SNOW Snowflake Inc. | Reduce -31.2% | 0.96% | −0.35 |
| TOST Toast Inc. Class A | Reduce -9.0% | 1.71% | −0.13 |
| MASS 908 Devices Inc. | Sold out | 0.00% | −0.11 |
| SPRB Spruce Biosciences Inc. | Sold out | 0.00% | −0.07 |
| CRWD CrowdStrike Holdings Inc. Class A | Reduce -9.0% | 1.34% | +0.07 |
| CPNG Coupang Inc. | Reduce -8.8% | 4.52% | +0.10 |
| DASH DoorDash Inc. Class A | Reduce -6.5% | 17.02% | +2.15 |
Portfolio Buys Q4 2024 → Q1 2025
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 24 | $613.5M | ALMR, NU, KVYO, BBNX, SGP |
| Q1 2026 | 21 | $421.2M | NU, KVYO, SGP, BBNX, IKT |
| Q4 2025 | 20 | $518.5M | KVYO, NU, BBNX, IKT, DASH |
| Q3 2025 | 20 | $456.4M | NU, KVYO, BBNX, CPNG, DASH |
| Q2 2025 | 19 | $507.8M | KVYO, NU, DASH, BBNX, CPNG |
| Q1 2025 | 20 | $408.9M | KVYO, NU, DASH, BBNX, IKT |
| Q4 2024 | 21 | $459.7M | KVYO, NU, DASH, IKT, CPNG |
| Q3 2024 | 20 | $355.8M | KVYO, NU, DASH, BIOA, ACRV |
| Q2 2024 | 20 | $298.6M | NU, KVYO, DASH, PATH, SNOW |
| Q1 2024 | 20 | $414.7M | NU, KVYO, DASH, PATH, SNOW |