Sands Capital Management, LLC
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 13, 2025), Sands Capital Management, LLC reported 71 stock positions worth $33.8 billion. Its top holding was Nvidia (NVDA) at 8.8% of the portfolio, followed by Amazon.com (AMZN, 7.7%) and ServiceNow (NOW, 4.6%). Compared with Q3 2024, it opened 9 new positions, sold out of 5, added to 14 and reduced 45. The biggest buy was Spotify Technology (SPOT, shares +86%) and the biggest sale an exit from Lam Research (LRCX).
- Most Recent 13F
- Q2 2026
- Location
- ARLINGTON, VA
- CIK
- 0001020066
- Portfolio Value
- $33.8B (Q4 2024)
- SEC Filing
- 0001020066-25-000014 ↗ filed Feb 13, 2025
Holdings Value
Holdings 71 stocks · $33.8B
| NVDA Nvidia Corp. | 8.76% | 22,039,413 | $3.0B | Reduce -4.4% |
| AMZN Amazon.com Inc. | 7.67% | 11,807,720 | $2.6B | Reduce -5.9% |
| NOW ServiceNow Inc. | 4.56% | 1,452,255 | $1.5B | Add +22.7% |
| SHOP Shopify Inc. Class A | 4.34% | 13,778,939 | $1.5B | Reduce -9.2% |
| V Visa Inc. Class A | 4.25% | 4,548,250 | $1.4B | Reduce -8.5% |
| NFLX Netflix Inc. | 3.91% | 1,482,174 | $1.3B | Reduce -5.0% |
| ASML ASML Holding NV-NY Reg SHS | 3.66% | 1,785,776 | $1.2B | Reduce -7.2% |
| MSFT Microsoft Corp. | 3.50% | 2,803,908 | $1.2B | Reduce -7.9% |
| AXON Axon Enterprise Inc. | 3.48% | 1,977,236 | $1.2B | Reduce -6.3% |
| MELI MercadoLibre Inc. | 3.36% | 668,506 | $1.1B | Reduce -11.5% |
| TEAM Atlassian Corp. Class A | 3.26% | 4,520,175 | $1.1B | Add +6.4% |
| DASH DoorDash Inc. Class A | 2.92% | 5,891,970 | $988.4M | Reduce -1.4% |
| XYZ Block Inc. | 2.60% | 10,339,834 | $878.8M | Reduce -7.9% |
| TSM Taiwan Semiconductor-SP ADR | 2.57% | 4,400,922 | $869.1M | Reduce -6.0% |
| DXCM Dexcom Inc. | 2.56% | 11,109,501 | $864.0M | Add +7.7% |
| NET Cloudflare Inc. Class A | 2.47% | 7,766,054 | $836.2M | Add +22.4% |
| SPOT Spotify Technology SA | 2.46% | 1,859,330 | $831.8M | Add +86.2% |
| SE Sea Ltd.-ADR | 2.32% | 7,391,632 | $784.3M | Reduce -11.4% |
| META Meta Platforms Inc. Class A | 2.31% | 1,331,896 | $779.8M | Reduce -5.9% |
| ENTG Entegris Inc. | 2.11% | 7,214,073 | $714.6M | Reduce -7.1% |
| GOOGL Alphabet Inc. Class A | 2.03% | 3,619,415 | $685.2M | Reduce -3.6% |
| AAPL Apple Inc. | 2.01% | 2,715,054 | $679.9M | Reduce -0.6% |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 1.78% | 57,989,285 | $600.8M | Reduce -9.1% |
| FLUT Flutter Entertainment PLC-Di | 1.77% | 2,310,697 | $597.2M | Add +13.5% |
| DDOG Datadog Inc. Class A | 1.49% | 3,526,424 | $503.9M | Reduce -17.4% |
| IOT Samsara Inc. Class A | 1.34% | 10,369,764 | $453.1M | Add +26.2% |
| SNOW Snowflake Inc. | 1.33% | 2,917,641 | $450.5M | Reduce -3.6% |
| ICE Intercontinental Exchange Inc. | 1.21% | 2,744,278 | $408.9M | Add +24.5% |
| NKE Nike Inc. Class B | 0.89% | 3,957,012 | $299.4M | Reduce -3.9% |
| CPNG Coupang Inc. | 0.85% | 13,052,550 | $286.9M | Reduce -0.3% |
| IRTC Irhythm Holdings Inc. | 0.85% | 3,176,702 | $286.4M | Add +49.6% |
| APP AppLovin Corp. Class A | 0.79% | 826,394 | $267.6M | New |
| RBLX Roblox Corp. Class A | 0.72% | 4,215,531 | $243.9M | Reduce -4.5% |
| UBER Uber Technologies Inc. | 0.72% | 4,023,173 | $242.7M | Add +49.8% |
| FWONK Liberty Media Corp. Class C | 0.69% | 2,504,064 | $232.0M | Reduce -1.3% |
| GLOB Globant SA | 0.63% | 991,370 | $212.6M | Reduce -3.0% |
| RGEN Repligen Corp. | 0.58% | 1,364,258 | $196.4M | Reduce -3.9% |
| HDB HDFC Bank Ltd.-ADR | 0.54% | 2,876,252 | $183.7M | Reduce -0.5% |
| RARE Ultragenyx Pharmaceutical Inc. | 0.54% | 4,298,003 | $180.8M | Reduce -16.0% |
| TTEK Tetra Tech Inc. | 0.51% | 4,338,203 | $172.8M | New |
| ROP Roper Technologies Inc. | 0.50% | 325,962 | $169.5M | Reduce -16.9% |
| KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC | 0.40% | 1,441,486 | $136.5M | Reduce -2.5% |
| ABNB Airbnb Inc. Class A | 0.39% | 1,002,322 | $131.7M | Reduce -4.5% |
| GOOG Alphabet Inc. Class C | 0.37% | 657,443 | $125.2M | Reduce -3.9% |
| HTHT H World Group Ltd.-ADR | 0.33% | 3,400,833 | $112.3M | New |
| TDG Transdigm Group Inc. | 0.32% | 86,405 | $109.5M | Reduce -24.9% |
| RACE Ferrari NV | 0.31% | 248,314 | $105.5M | Add +19.0% |
| WCN Waste Connections Inc. | 0.30% | 596,885 | $102.4M | Add +34.2% |
| GRAB Grab Holdings Ltd. Class A | 0.30% | 21,377,711 | $100.9M | Reduce -2.7% |
| UNH Unitedhealth Group Inc. | 0.26% | 175,714 | $88.9M | Reduce -24.2% |
| CHTR Charter Communications Inc. Class A | 0.24% | 241,052 | $82.6M | Reduce -25.0% |
| TXN Texas Instruments Inc. | 0.22% | 391,807 | $73.5M | Reduce -25.0% |
| YMM Full Truck Alliance -SPN ADR | 0.20% | 6,158,039 | $66.6M | New |
| BZ Kanzhun Ltd. - ADR | 0.18% | 4,318,770 | $59.6M | Reduce -2.5% |
| XP XP Inc. Class A | 0.17% | 4,864,145 | $57.6M | Reduce -44.1% |
| CDNS Cadence Design SYS Inc. | 0.17% | 188,244 | $56.6M | Reduce -24.6% |
| SITE Siteone Landscape Supply Inc. | 0.16% | 414,943 | $54.7M | Reduce -24.9% |
| KVYO Klaviyo Inc. Class A | 0.15% | 1,237,540 | $51.0M | Reduce -13.3% |
| LIN Linde PLC | 0.11% | 89,643 | $37.5M | New |
| GLBE Global-E Online Ltd. | 0.11% | 671,364 | $36.6M | Add +0.6% |
| OKTA Okta Inc. | 0.11% | 457,648 | $36.1M | Reduce -94.7% |
| CP Canadian Pacific Kansas City | 0.09% | 411,228 | $29.8M | New |
| CRWD CrowdStrike Holdings Inc. Class A | 0.08% | 78,958 | $27.0M | New |
| MNDY Monday.com Ltd. | 0.06% | 87,458 | $20.6M | New |
| ICLR Icon PLC | 0.06% | 94,700 | $19.9M | New |
| STVN Stevanato Group SPA | 0.03% | 500,685 | $10.9M | Reduce -70.8% |
| GTLB Gitlab Inc. Class A | 0.02% | 127,475 | $7.2M | No change |
| IWF iShares Russell 1000 Growth | 0.02% | 16,228 | $6.5M | Add +231.2% |
| EW Edwards Lifesciences Corp. | 0.00% | 18,071 | $1.3M | Reduce -99.7% |
| PATH Uipath Inc. Class A | 0.00% | 73,641 | $936K | No change |
| TXG 10X Genomics Inc. Class A | 0.00% | 12,542 | $180K | No change |
Portfolio Sells Q3 2024 → Q4 2024
| LRCX Lam Research Corp. | Sold out | 0.00% | −2.04 |
| OKTA Okta Inc. | Reduce -94.7% | 0.11% | −1.84 |
| MELI MercadoLibre Inc. | Reduce -11.5% | 3.36% | −1.34 |
| ASML ASML Holding NV-NY Reg SHS | Reduce -7.2% | 3.66% | −1.21 |
| EW Edwards Lifesciences Corp. | Reduce -99.7% | 0.00% | −1.07 |
| NU Nu Holdings Ltd./Cayman Isl-A | Reduce -9.1% | 1.78% | −0.87 |
| FND Floor & Decor Holdings Inc. Class A | Sold out | 0.00% | −0.70 |
| ALGN Align Technology Inc. | Sold out | 0.00% | −0.62 |
| ENTG Entegris Inc. | Reduce -7.1% | 2.11% | −0.54 |
| MSFT Microsoft Corp. | Reduce -7.9% | 3.50% | −0.48 |
| RARE Ultragenyx Pharmaceutical Inc. | Reduce -16.0% | 0.54% | −0.33 |
| XP XP Inc. Class A | Reduce -44.1% | 0.17% | −0.30 |
| IQV Iqvia Holdings Inc. | Sold out | 0.00% | −0.29 |
| NKE Nike Inc. Class B | Reduce -3.9% | 0.89% | −0.22 |
| TDG Transdigm Group Inc. | Reduce -24.9% | 0.32% | −0.17 |
| ROP Roper Technologies Inc. | Reduce -16.9% | 0.50% | −0.16 |
| META Meta Platforms Inc. Class A | Reduce -5.9% | 2.31% | −0.15 |
| UNH Unitedhealth Group Inc. | Reduce -24.2% | 0.26% | −0.15 |
| CPNG Coupang Inc. | Reduce -0.3% | 0.85% | −0.13 |
| TXN Texas Instruments Inc. | Reduce -25.0% | 0.22% | −0.11 |
| SITE Siteone Landscape Supply Inc. | Reduce -24.9% | 0.16% | −0.09 |
| STVN Stevanato Group SPA | Reduce -70.8% | 0.03% | −0.07 |
| KSPI JSC Kaspi.kz ADR | Reduce -2.5% | 0.40% | −0.07 |
| CHTR Charter Communications Inc. Class A | Reduce -25.0% | 0.24% | −0.07 |
| SE Sea Ltd.-ADR | Reduce -11.4% | 2.32% | −0.07 |
| RGEN Repligen Corp. | Reduce -3.9% | 0.58% | −0.06 |
| BZ Kanzhun Ltd. - ADR | Reduce -2.5% | 0.18% | −0.06 |
| CDNS Cadence Design SYS Inc. | Reduce -24.6% | 0.17% | −0.04 |
| INDA iShares MSCI India ETF | Sold out | 0.00% | −0.02 |
| ABNB Airbnb Inc. Class A | Reduce -4.5% | 0.39% | −0.01 |
| HDB HDFC Bank Ltd.-ADR | Reduce -0.5% | 0.54% | −0.01 |
| KVYO Klaviyo Inc. Class A | Reduce -13.3% | 0.15% | −0.00 |
| DDOG Datadog Inc. Class A | Reduce -17.4% | 1.49% | −0.00 |
| GLOB Globant SA | Reduce -3.0% | 0.63% | +0.01 |
| GOOG Alphabet Inc. Class C | Reduce -3.9% | 0.37% | +0.02 |
| GRAB Grab Holdings Ltd. Class A | Reduce -2.7% | 0.30% | +0.05 |
| AAPL Apple Inc. | Reduce -0.6% | 2.01% | +0.08 |
| FWONK Liberty Media Corp. Class C | Reduce -1.3% | 0.69% | +0.09 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -6.0% | 2.57% | +0.10 |
| V Visa Inc. Class A | Reduce -8.5% | 4.25% | +0.11 |
| RBLX Roblox Corp. Class A | Reduce -4.5% | 0.72% | +0.13 |
| GOOGL Alphabet Inc. Class A | Reduce -3.6% | 2.03% | +0.14 |
| NVDA Nvidia Corp. | Reduce -4.4% | 8.76% | +0.26 |
| SNOW Snowflake Inc. | Reduce -3.6% | 1.33% | +0.28 |
| XYZ Block Inc. | Reduce -7.9% | 2.60% | +0.31 |
| DASH DoorDash Inc. Class A | Reduce -1.4% | 2.92% | +0.34 |
| NFLX Netflix Inc. | Reduce -5.0% | 3.91% | +0.55 |
| AMZN Amazon.com Inc. | Reduce -5.9% | 7.67% | +0.57 |
| SHOP Shopify Inc. Class A | Reduce -9.2% | 4.34% | +0.64 |
| AXON Axon Enterprise Inc. | Reduce -6.3% | 3.48% | +0.92 |
Portfolio Buys Q3 2024 → Q4 2024
| SPOT Spotify Technology SA | Add +86.2% | 2.46% | +1.34 |
| NOW ServiceNow Inc. | Add +22.7% | 4.56% | +1.34 |
| TEAM Atlassian Corp. Class A | Add +6.4% | 3.26% | +1.21 |
| NET Cloudflare Inc. Class A | Add +22.4% | 2.47% | +0.92 |
| APP AppLovin Corp. Class A | New | 0.79% | +0.79 |
| TTEK Tetra Tech Inc. | New | 0.51% | +0.51 |
| DXCM Dexcom Inc. | Add +7.7% | 2.56% | +0.46 |
| IRTC Irhythm Holdings Inc. | Add +49.6% | 0.85% | +0.37 |
| HTHT H World Group Ltd.-ADR | New | 0.33% | +0.33 |
| FLUT Flutter Entertainment PLC-Di | Add +13.5% | 1.77% | +0.30 |
| YMM Full Truck Alliance -SPN ADR | New | 0.20% | +0.20 |
| IOT Samsara Inc. Class A | Add +26.2% | 1.34% | +0.14 |
| ICE Intercontinental Exchange Inc. | Add +24.5% | 1.21% | +0.14 |
| LIN Linde PLC | New | 0.11% | +0.11 |
| UBER Uber Technologies Inc. | Add +49.8% | 0.72% | +0.11 |
| CP Canadian Pacific Kansas City | New | 0.09% | +0.09 |
| CRWD CrowdStrike Holdings Inc. Class A | New | 0.08% | +0.08 |
| WCN Waste Connections Inc. | Add +34.2% | 0.30% | +0.06 |
| MNDY Monday.com Ltd. | New | 0.06% | +0.06 |
| ICLR Icon PLC | New | 0.06% | +0.06 |
| GLBE Global-E Online Ltd. | Add +0.6% | 0.11% | +0.03 |
| RACE Ferrari NV | Add +19.0% | 0.31% | +0.01 |
| IWF iShares Russell 1000 Growth | Add +231.2% | 0.02% | +0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 71 | $26.9B | NVDA, TSM, GOOGL, AMZN, ASML |
| Q1 2026 | 67 | $25.5B | NVDA, TSM, GOOGL, AMZN, SHOP |
| Q4 2025 | 66 | $32.9B | NVDA, TSM, AMZN, GOOGL, SHOP |
| Q3 2025 | 64 | $36.2B | NVDA, TSM, AMZN, MSFT, V |
| Q2 2025 | 66 | $34.8B | NVDA, AMZN, TSM, NFLX, MSFT |
| Q1 2025 | 75 | $29.4B | NVDA, AMZN, NFLX, V, TSM |
| Q4 2024 | 71 | $33.8B | NVDA, AMZN, NOW, SHOP, V |
| Q3 2024 | 67 | $32.9B | NVDA, AMZN, ASML, MELI, V |
| Q2 2024 | 66 | $34.0B | NVDA, AMZN, ASML, MSFT, V |
| Q1 2024 | 76 | $35.8B | NVDA, AMZN, ASML, V, DXCM |