Sands Capital Alternatives, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), Sands Capital Alternatives, LLC reported 20 stock positions worth $518.5 million. Its top holding was Klaviyo Class A (KVYO) at 22.9% of the portfolio, followed by Nu Holdings Ltd./Cayman Isl-A (NU, 22.2%) and Beta Bionics (BBNX, 21.0%). Compared with Q3 2025, it opened 1 new position, sold out of 1, added to 6 and reduced 5. The biggest buy was a new position in Servicetitan Class A (TTAN) and the biggest sale Nu Holdings Ltd./Cayman Isl-A (NU, shares −4%).
- Most Recent 13F
- Q2 2026
- Location
- ARLINGTON, VA
- CIK
- 0001846444
- Portfolio Value
- $518.5M (Q4 2025)
- SEC Filing
- 0001846444-26-000003 ↗ filed Feb 13, 2026
Holdings Value
Holdings 20 stocks · $518.5M
| KVYO Klaviyo Inc. Class A | 22.86% | 3,649,678 | $118.5M | Add +3.8% |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 22.15% | 6,861,399 | $114.9M | Reduce -4.4% |
| BBNX Beta Bionics Inc. | 20.98% | 3,570,113 | $108.8M | No change |
| IKT Inhibikase Therapeutics Inc. | 5.15% | 13,018,965 | $26.7M | Add +18.9% |
| DASH DoorDash Inc. Class A | 4.18% | 95,618 | $21.7M | Add +6.1% |
| CPNG Coupang Inc. | 3.96% | 870,424 | $20.5M | Add +9.5% |
| IOT Samsara Inc. Class A | 3.19% | 466,190 | $16.5M | Reduce -22.2% |
| DDOG Datadog Inc. Class A | 2.25% | 85,793 | $11.7M | Reduce -27.7% |
| TOST Toast Inc. Class A | 2.07% | 301,647 | $10.7M | Add +92.6% |
| BIOA Bioage Labs Inc. | 2.01% | 786,353 | $10.4M | No change |
| MNDY Monday.com Ltd. | 1.93% | 67,868 | $10.0M | Add +16.3% |
| TTAN Servicetitan Inc. Class A | 1.85% | 89,856 | $9.6M | New |
| TXG 10X Genomics Inc. Class A | 1.52% | 481,770 | $7.9M | No change |
| ABOS Acumen Pharmaceuticals Inc. | 1.39% | 3,417,075 | $7.2M | No change |
| TARS Tarsus Pharmaceuticals Inc. | 1.34% | 85,000 | $7.0M | Reduce -50.0% |
| ACRV Acrivon Therapeutics Inc. | 0.99% | 2,122,605 | $5.1M | No change |
| SNOW Snowflake Inc. | 0.86% | 20,253 | $4.4M | Reduce -25.0% |
| TSHA Taysha Gene Therapies Inc. | 0.77% | 724,873 | $4.0M | No change |
| CADL Candel Therapeutics Inc. | 0.44% | 405,837 | $2.3M | No change |
| FIG Figma Inc. Class A | 0.13% | 18,286 | $683K | No change |
Portfolio Sells Q3 2025 → Q4 2025
| NU Nu Holdings Ltd./Cayman Isl-A | Reduce -4.4% | 22.15% | −3.02 |
| IOT Samsara Inc. Class A | Reduce -22.2% | 3.19% | −1.70 |
| CRWD CrowdStrike Holdings Inc. Class A | Sold out | 0.00% | −1.68 |
| DDOG Datadog Inc. Class A | Reduce -27.7% | 2.25% | −1.45 |
| TARS Tarsus Pharmaceuticals Inc. | Reduce -50.0% | 1.34% | −0.87 |
| SNOW Snowflake Inc. | Reduce -25.0% | 0.86% | −0.48 |
Portfolio Buys Q3 2025 → Q4 2025
| TTAN Servicetitan Inc. Class A | New | 1.85% | +1.85 |
| KVYO Klaviyo Inc. Class A | Add +3.8% | 22.86% | +1.53 |
| IKT Inhibikase Therapeutics Inc. | Add +18.9% | 5.15% | +1.26 |
| TOST Toast Inc. Class A | Add +92.6% | 2.07% | +0.81 |
| MNDY Monday.com Ltd. | Add +16.3% | 1.93% | −0.54 |
| DASH DoorDash Inc. Class A | Add +6.1% | 4.18% | −1.19 |
| CPNG Coupang Inc. | Add +9.5% | 3.96% | −1.65 |
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 |