Sands Capital Management, LLC
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 8, 2026), Sands Capital Management, LLC reported 67 stock positions worth $25.5 billion. Its top holding was Nvidia (NVDA) at 12.4% of the portfolio, followed by Taiwan Semiconductor-SP ADR (TSM, 7.8%) and Alphabet Class A (GOOGL, 5.8%). Compared with Q4 2025, it opened 9 new positions, sold out of 8, added to 9 and reduced 48. The biggest buy was Alphabet Class A (GOOGL, shares +4%) and the biggest sale ServiceNow (NOW, shares −99%).
- Most Recent 13F
- Q2 2026
- Location
- ARLINGTON, VA
- CIK
- 0001020066
- Portfolio Value
- $25.5B (Q1 2026)
- SEC Filing
- 0001020066-26-000015 ↗ filed May 8, 2026
Holdings Value
Holdings 67 stocks · $25.5B
| NVDA Nvidia Corp. | 12.38% | 18,085,742 | $3.2B | Reduce -9.8% |
| TSM Taiwan Semiconductor-SP ADR | 7.77% | 5,862,685 | $2.0B | Reduce -14.1% |
| GOOGL Alphabet Inc. Class A | 5.78% | 5,124,494 | $1.5B | Add +3.8% |
| AMZN Amazon.com Inc. | 5.49% | 6,719,055 | $1.4B | Reduce -9.7% |
| SHOP Shopify Inc. Class A | 4.16% | 8,935,666 | $1.1B | Reduce -6.0% |
| NFLX Netflix Inc. | 3.55% | 9,414,668 | $905.2M | Reduce -6.1% |
| SPOT Spotify Technology SA | 3.41% | 1,794,226 | $870.0M | Add +22.1% |
| ASML ASML Holding NV-NY Reg SHS filed as ASML HLDG NV | 3.32% | 639,833 | $845.1M | Reduce -4.5% |
| V Visa Inc. Class A | 3.29% | 2,770,431 | $837.3M | Reduce -10.3% |
| MELI MercadoLibre Inc. | 3.23% | 475,455 | $822.1M | Reduce -6.7% |
| NET Cloudflare Inc. Class A | 2.96% | 3,661,749 | $755.6M | Reduce -1.9% |
| META Meta Platforms Inc. Class A | 2.87% | 1,279,121 | $731.8M | Add +1.9% |
| ICE Intercontinental Exchange Inc. | 2.71% | 4,384,298 | $689.6M | Reduce -20.3% |
| CVNA Carvana Co. | 2.61% | 2,117,248 | $665.6M | Reduce -13.3% |
| AXON Axon Enterprise Inc. | 2.61% | 1,564,504 | $664.4M | Reduce -2.8% |
| ISRG Intuitive Surgical Inc. | 2.39% | 1,321,274 | $609.1M | Reduce -4.0% |
| DASH DoorDash Inc. Class A | 2.33% | 3,957,060 | $594.2M | Reduce -12.0% |
| MSFT Microsoft Corp. | 2.22% | 1,530,124 | $566.4M | Reduce -38.1% |
| IOT Samsara Inc. Class A | 1.95% | 15,657,744 | $496.2M | Reduce -18.1% |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 1.94% | 34,342,221 | $493.5M | Reduce -22.7% |
| AVGO Broadcom Inc. | 1.70% | 1,402,835 | $434.2M | Reduce -33.7% |
| SE Sea Ltd.-ADR | 1.54% | 4,728,550 | $391.6M | Reduce -14.0% |
| APP AppLovin Corp. Class A | 1.52% | 971,561 | $386.7M | Reduce -33.6% |
| PWR Quanta Services Inc. | 1.35% | 626,348 | $343.9M | Add +8.6% |
| XYZ Block Inc. | 1.30% | 5,510,835 | $331.6M | Reduce -7.1% |
| CRS Carpenter Technology | 1.27% | 823,277 | $324.5M | Add +32.4% |
| CSL Carlisle Cos Inc. | 1.20% | 919,614 | $306.8M | Reduce -5.0% |
| ARGX Argenx SE - ADR | 0.97% | 340,285 | $248.5M | Reduce -4.7% |
| BE Bloom Energy Corp. Class A | 0.95% | 1,779,038 | $241.0M | New |
| BLDR Builders Firstsource Inc. | 0.85% | 2,621,085 | $215.8M | Reduce -5.0% |
| ONON On Holding AG Class A filed as ON HLDG AG | 0.84% | 6,325,547 | $215.2M | Reduce -4.7% |
| STX Seagate Technology Holdings | 0.82% | 531,892 | $208.4M | New |
| FLUT Flutter Entertainment PLC-Di | 0.80% | 1,988,830 | $202.8M | Reduce -4.7% |
| TTEK Tetra Tech Inc. | 0.79% | 6,658,823 | $200.6M | Reduce -5.0% |
| MCK McKesson Corp. | 0.68% | 201,283 | $174.2M | Add +15.5% |
| CPNG Coupang Inc. | 0.68% | 9,172,187 | $173.2M | Reduce -11.1% |
| DDOG Datadog Inc. Class A | 0.65% | 1,406,366 | $166.0M | Reduce -7.1% |
| LRCX Lam Research Corp. | 0.63% | 755,222 | $161.4M | New |
| RBLX Roblox Corp. Class A | 0.61% | 2,726,701 | $154.2M | Reduce -14.3% |
| FWONK Liberty Media Corp. Class C | 0.52% | 1,559,760 | $132.6M | Reduce -25.1% |
| KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC | 0.46% | 1,586,334 | $117.5M | Reduce -18.6% |
| TDG Transdigm Group Inc. | 0.43% | 94,341 | $109.3M | Reduce -8.6% |
| WCN Waste Connections Inc. | 0.40% | 634,903 | $103.1M | Reduce -34.3% |
| APH Amphenol Corp. Class A | 0.40% | 805,602 | $101.8M | Reduce -8.3% |
| RACE Ferrari NV | 0.38% | 287,709 | $97.4M | Reduce -7.2% |
| RARE Ultragenyx Pharmaceutical Inc. | 0.26% | 3,214,533 | $67.3M | Reduce -7.8% |
| BSX Boston Scientific Corp. | 0.18% | 736,109 | $46.2M | Reduce -8.6% |
| YMM Full Truck Alliance -SPN ADR | 0.16% | 4,970,779 | $41.3M | Reduce -18.8% |
| GRAB Grab Holdings Ltd. Class A | 0.13% | 9,122,432 | $33.4M | Reduce -18.9% |
| LLY Eli Lilly & Co. | 0.12% | 32,887 | $30.2M | New |
| LIN Linde PLC | 0.11% | 54,593 | $27.1M | Reduce -7.8% |
| PANW Palo Alto Networks Inc. | 0.10% | 161,078 | $25.8M | Reduce -1.2% |
| HDB HDFC Bank Ltd.-ADR | 0.09% | 907,652 | $22.6M | Reduce -85.2% |
| KVYO Klaviyo Inc. Class A | 0.05% | 595,160 | $11.6M | Reduce -35.9% |
| STVN Stevanato Group SPA | 0.03% | 497,310 | $6.8M | Add +0.9% |
| FIG Figma Inc. Class A | 0.02% | 187,577 | $4.0M | Reduce -1.2% |
| PLTR Palantir Technologies Inc. Class A | 0.01% | 22,919 | $3.4M | Add +15.5% |
| NOW ServiceNow Inc. | 0.01% | 31,521 | $3.3M | Reduce -99.2% |
| GTLB Gitlab Inc. Class A | 0.01% | 127,475 | $2.8M | No change |
| BABA Alibaba Group Holding-SP ADR | 0.00% | 7,793 | $978K | Add +3.8% |
| TEAM Atlassian Corp. Class A | 0.00% | 14,281 | $975K | Reduce -89.5% |
| AAPL Apple Inc. | 0.00% | 3,219 | $817K | New |
| SNOW Snowflake Inc. | 0.00% | 4,178 | $630K | Reduce -65.1% |
| ANET Arista Networks Inc. | 0.00% | 2,698 | $331K | New |
| HOOD Robinhood Markets Inc. Class A | 0.00% | 3,746 | $260K | New |
| AVAV Aerovironment Inc. | 0.00% | 1,342 | $246K | New |
| LITE Lumentum Holdings Inc. | 0.00% | 312 | $219K | New |
Portfolio Sells Q4 2025 → Q1 2026
| NOW ServiceNow Inc. | Reduce -99.2% | 0.01% | −1.78 |
| APP AppLovin Corp. Class A | Reduce -33.6% | 1.52% | −1.48 |
| MSFT Microsoft Corp. | Reduce -38.1% | 2.22% | −1.41 |
| IRTC Irhythm Holdings Inc. | Sold out | 0.00% | −0.92 |
| DASH DoorDash Inc. Class A | Reduce -12.0% | 2.33% | −0.77 |
| SE Sea Ltd.-ADR | Reduce -14.0% | 1.54% | −0.60 |
| HDB HDFC Bank Ltd.-ADR | Reduce -85.2% | 0.09% | −0.59 |
| FLUT Flutter Entertainment PLC-Di | Reduce -4.7% | 0.80% | −0.57 |
| CVNA Carvana Co. | Reduce -13.3% | 2.61% | −0.52 |
| AVGO Broadcom Inc. | Reduce -33.7% | 1.70% | −0.52 |
| SHOP Shopify Inc. Class A | Reduce -6.0% | 4.16% | −0.50 |
| ROP Roper Technologies Inc. | Sold out | 0.00% | −0.39 |
| NU Nu Holdings Ltd./Cayman Isl-A | Reduce -22.7% | 1.94% | −0.33 |
| SAP Sap SE-Sponsored ADR | Sold out | 0.00% | −0.29 |
| CDNS Cadence Design SYS Inc. | Sold out | 0.00% | −0.24 |
| AJG Arthur J Gallagher & Co. | Sold out | 0.00% | −0.19 |
| RBLX Roblox Corp. Class A | Reduce -14.3% | 0.61% | −0.18 |
| AXON Axon Enterprise Inc. | Reduce -2.8% | 2.61% | −0.17 |
| GLOB Globant SA | Sold out | 0.00% | −0.15 |
| IOT Samsara Inc. Class A | Reduce -18.1% | 1.95% | −0.12 |
| WCN Waste Connections Inc. | Reduce -34.3% | 0.40% | −0.11 |
| FWONK Liberty Media Corp. Class C | Reduce -25.1% | 0.52% | −0.10 |
| ONON On Holding AG Class A | Reduce -4.7% | 0.84% | −0.09 |
| TEAM Atlassian Corp. Class A | Reduce -89.5% | 0.00% | −0.06 |
| CPNG Coupang Inc. | Reduce -11.1% | 0.68% | −0.06 |
| BSX Boston Scientific Corp. | Reduce -8.6% | 0.18% | −0.05 |
| KVYO Klaviyo Inc. Class A | Reduce -35.9% | 0.05% | −0.05 |
| GRAB Grab Holdings Ltd. Class A | Reduce -18.9% | 0.13% | −0.04 |
| YMM Full Truck Alliance -SPN ADR | Reduce -18.8% | 0.16% | −0.04 |
| DUOL Duolingo | Sold out | 0.00% | −0.02 |
| BLDR Builders Firstsource Inc. | Reduce -5.0% | 0.85% | −0.02 |
| IWF iShares Russell 1000 Growth | Sold out | 0.00% | −0.01 |
| V Visa Inc. Class A | Reduce -10.3% | 3.29% | −0.01 |
| FIG Figma Inc. Class A | Reduce -1.2% | 0.02% | −0.01 |
| SNOW Snowflake Inc. | Reduce -65.1% | 0.00% | −0.01 |
| ICE Intercontinental Exchange Inc. | Reduce -20.3% | 2.71% | −0.01 |
| KSPI JSC Kaspi.kz ADR | Reduce -18.6% | 0.46% | −0.00 |
| PANW Palo Alto Networks Inc. | Reduce -1.2% | 0.10% | +0.01 |
| TDG Transdigm Group Inc. | Reduce -8.6% | 0.43% | +0.01 |
| ISRG Intuitive Surgical Inc. | Reduce -4.0% | 2.39% | +0.02 |
| RARE Ultragenyx Pharmaceutical Inc. | Reduce -7.8% | 0.26% | +0.02 |
| DDOG Datadog Inc. Class A | Reduce -7.1% | 0.65% | +0.03 |
| LIN Linde PLC | Reduce -7.8% | 0.11% | +0.03 |
| RACE Ferrari NV | Reduce -7.2% | 0.38% | +0.03 |
| APH Amphenol Corp. Class A | Reduce -8.3% | 0.40% | +0.04 |
| ARGX Argenx SE - ADR | Reduce -4.7% | 0.97% | +0.06 |
| TTEK Tetra Tech Inc. | Reduce -5.0% | 0.79% | +0.07 |
| MELI MercadoLibre Inc. | Reduce -6.7% | 3.23% | +0.10 |
| XYZ Block Inc. | Reduce -7.1% | 1.30% | +0.13 |
| CSL Carlisle Cos Inc. | Reduce -5.0% | 1.20% | +0.26 |
Portfolio Buys Q4 2025 → Q1 2026
| GOOGL Alphabet Inc. Class A | Add +3.8% | 5.78% | +1.08 |
| BE Bloom Energy Corp. Class A | New | 0.95% | +0.95 |
| STX Seagate Technology Holdings | New | 0.82% | +0.82 |
| SPOT Spotify Technology SA | Add +22.1% | 3.41% | +0.82 |
| CRS Carpenter Technology | Add +32.4% | 1.27% | +0.68 |
| LRCX Lam Research Corp. | New | 0.63% | +0.63 |
| PWR Quanta Services Inc. | Add +8.6% | 1.35% | +0.61 |
| META Meta Platforms Inc. Class A | Add +1.9% | 2.87% | +0.35 |
| MCK McKesson Corp. | Add +15.5% | 0.68% | +0.25 |
| LLY Eli Lilly & Co. | New | 0.12% | +0.12 |
| AAPL Apple Inc. | New | 0.00% | +0.00 |
| PLTR Palantir Technologies Inc. Class A | Add +15.5% | 0.01% | +0.00 |
| ANET Arista Networks Inc. | New | 0.00% | +0.00 |
| AVAV Aerovironment Inc. | New | 0.00% | +0.00 |
| HOOD Robinhood Markets Inc. Class A | New | 0.00% | +0.00 |
| LITE Lumentum Holdings Inc. | New | 0.00% | +0.00 |
| BABA Alibaba Group Holding-SP ADR | Add +3.8% | 0.00% | +0.00 |
| STVN Stevanato Group SPA | Add +0.9% | 0.03% | −0.00 |
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 |