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Sands Capital Management

Sands Capital Management Portfolio holdings

AUM $25.5B
1-Year Est. Return 26.46%
This Fund
S&P 500
This Quarter Est. Return
+7.34%
1 Year Est. Return
+26.46%
3 Year Est. Return
+130.81%
5 Year Est. Return
+100.92%
10 Year Est. Return
+877.17%
AUM
$36.2B
AUM Growth
+$1.42B
Cap. Flow
+$69.7M
Cap. Flow %
0.19%
Top 10 Hldgs %
47.21%
Holding
70
New
4
Increased
28
Reduced
30
Closed
6

Top Buys

Rank Stock Value
1
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$353M
2
CVNA icon
Carvana
CVNA
+$283M
3
ISRG icon
Intuitive Surgical
ISRG
+$280M
4
ORCL icon
Oracle
ORCL
+$238M
5
BLDR icon
Builders FirstSource
BLDR
+$188M

Top Sells

Rank Stock Value
1
DXCM icon
DexCom
DXCM
+$397M
2
NET icon
Cloudflare
NET
+$229M
3
DASH icon
DoorDash
DASH
+$193M
4
AMZN icon
Amazon
AMZN
+$185M
5
RGEN icon
Repligen
RGEN
+$156M

Sector Composition

Rank Sector Weight
1 Technology 43.26%
2 Consumer Discretionary 19.17%
3 Communication Services 16.62%
4 Financials 10.18%
5 Industrials 6.01%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ASML icon
26
ASML
ASML
$654B
$512M 1.41%
529,164
-1,398
-0.3% -$1.1M
RBLX icon
27
Roblox
RBLX
$25.9B
$482M 1.33%
3,476,488
-110,055
-3% -$13.7M
TEAM icon
28
Atlassian
TEAM
$28.6B
$422M 1.16%
2,641,730
+53,007
+2% +$9.59M
IRTC icon
29
iRhythm Holdings
IRTC
$4.1B
$385M 1.06%
2,236,110
-679,417
-23% -$108M
CPNG icon
30
Coupang
CPNG
$28.8B
$355M 0.98%
11,024,177
-975,544
-8% -$29.5M
AJG icon
31
Arthur J. Gallagher & Co
AJG
$64.1B
$339M 0.93%
1,094,070
-27,179
-2% -$8.19M
DXCM icon
32
DexCom
DXCM
$31.1B
$332M 0.92%
4,934,189
-5,013,755
-50% -$397M
BLDR icon
33
Builders FirstSource
BLDR
$8.14B
$295M 0.81%
2,430,902
+1,414,129
+139% +$188M
ONON icon
34
On Holding
ONON
$12.6B
$287M 0.79%
6,769,430
+2,155,083
+47% +$103M
CSL icon
35
Carlisle Companies
CSL
$15.3B
$279M 0.77%
849,501
+423,141
+99% +$161M
DDOG icon
36
Datadog
DDOG
$102B
$270M 0.74%
1,894,680
-877,335
-32% -$121M
ORCL icon
37
Oracle
ORCL
$417B
$263M 0.73%
+936,043
New +$238M
TTEK icon
38
Tetra Tech
TTEK
$8.83B
$240M 0.66%
7,179,032
+1,978,697
+38% +$71.9M
HDB icon
39
HDFC Bank
HDB
$123B
$211M 0.58%
6,190,788
+424,118
+7% +$15.6M
FWONK icon
40
Liberty Media Series C
FWONK
$24B
$210M 0.58%
2,014,627
+103,594
+5% +$10.5M
WCN
41
Waste Connections
WCN
$41.3B
$208M 0.57%
1,183,194
+63,112
+6% +$11.5M
ROP icon
42
Roper Technologies
ROP
$38.9B
$175M 0.48%
351,775
+23,929
+7% +$12.8M
KSPI icon
43
Kaspi.kz JSC
KSPI
$17.5B
$134M 0.37%
1,644,240
-37,773
-2% -$3.31M
TDG icon
44
TransDigm Group
TDG
$69.4B
$123M 0.34%
93,296
+6,396
+7% +$9.14M
RACE icon
45
Ferrari
RACE
$71.3B
$122M 0.34%
251,698
+7,981
+3% +$3.82M
MCK icon
46
McKesson
MCK
$100B
$121M 0.33%
157,146
+11,279
+8% +$7.94M
SAP icon
47
SAP
SAP
$227B
$118M 0.32%
440,270
+150,884
+52% +$42.4M
CDNS icon
48
Cadence Design Systems
CDNS
$93B
$117M 0.32%
331,887
+23,696
+8% +$8.15M
RARE icon
49
Ultragenyx Pharmaceutical
RARE
$2.45B
$113M 0.31%
3,769,853
-173,632
-4% -$5.21M
VG
50
Venture Global Inc
VG
$30.9B
$106M 0.29%
7,484,070
-370,469
-5% -$5.28M
1
2
3

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Sands Capital Management's Q3 2025 Portfolio in Review

As of Q3 2025, Sands Capital Management held 70 positions worth $36.2B, up 4.1% from $34.8B the previous quarter. Its ten largest holdings account for 47% of the portfolio.

Sands Capital Management's Q3 2025 filing shows 4 new, 28 increased, 30 reduced and 6 closed positions. Its largest new stake was Oracle: 936,043 shares worth $263M. The largest sale was DexCom, an estimated $397M.

By sector, the portfolio is most concentrated in Technology at 43% of assets, up from 41% a quarter earlier, followed by Consumer Discretionary and Communication Services.

  • Sands Capital Management's largest Q3 2025 buy was Oracle: 936,043 shares worth $263M.
  • Sands Capital Management added most to Alphabet (Google) Class A in Q3 2025, an estimated $353M increase.
  • Sands Capital Management's biggest Q3 2025 reduction was DexCom, cutting an estimated $397M.
  • Sands Capital Management fully exited Repligen in Q3 2025, selling an estimated $156M.
  • Sands Capital Management's ten largest holdings make up 47% of its $36.2B portfolio in Q3 2025.
  • Sands Capital Management opened 4 new positions and closed 6 in Q3 2025.
  • Sands Capital Management's portfolio value rose 4.1% quarter-over-quarter to $36.2B.

Based on Sands Capital Management's 13F filing for Q3 2025, filed 13 Nov 2025.