We are live on
!
Find out more
Sands Capital Management Portfolio holdings
AUM
$25.5B
1-Year Est. Return
26.46%
This Fund
S&P 500
This Quarter
Est. Return
-1.36%
1 Year Est. Return
+26.46%
3 Year Est. Return
+130.81%
5 Year Est. Return
+100.92%
10 Year Est. Return
+877.1%
AUM
$32.9B
AUM Growth
-$3.37B
(-9.3%)
Cap. Flow
-$2.09B
Cap. Flow
% of AUM
-6.37%
Top 10 Holdings %
Top 10 Hldgs %
48.55%
Holding
70
New
6
Increased
20
Reduced
38
Closed
4
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Shopify
SHOP
|
+$412M |
| 2 |
argenx
ARGX
|
+$291M |
| 3 |
Applovin
APP
|
+$281M |
| 4 |
Carvana
CVNA
|
+$279M |
| 5 |
Quanta Services
PWR
|
+$253M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
TSMC
TSM
|
+$712M |
| 2 |
ServiceNow
NOW
|
+$410M |
| 3 |
Atlassian
TEAM
|
+$393M |
| 4 |
XYZ
Block Inc
XYZ
|
+$391M |
| 5 |
DexCom
DXCM
|
+$332M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 40.86% |
| 2 | Consumer Discretionary | 20.11% |
| 3 | Communication Services | 17.08% |
| 4 | Financials | 9.14% |
| 5 | Industrials | 7.57% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
XYZ
26
Block Inc
XYZ
$47.5B
| $386M | 1.17% |
5,929,883
-5,673,174
| -49% | -$391M |
|
27
Carlisle Companies
CSL
$15.4B
| $310M | 0.94% |
967,640
+118,139
| +14% | +$38.3M |
|
28
On Holding
ONON
$12.5B
| $308M | 0.94% |
6,635,050
-134,380
| -2% | -$5.79M |
|
29
iRhythm Holdings
IRTC
$4.2B
| $302M | 0.92% |
1,699,645
-536,465
| -24% | -$95.1M |
|
|
30
argenx
ARGX
$54.1B
| $300M | 0.91% |
356,870
+340,245
| +2,047% | +$291M |
|
31
Builders FirstSource
BLDR
$8.04B
| $284M | 0.86% |
2,757,969
+327,067
| +13% | +$36.8M |
|
32
Roblox
RBLX
$27B
| $258M | 0.78% |
3,183,399
-293,089
| -8% | -$31.1M |
|
|
33
Quanta Services
PWR
$101B
| $243M | 0.74% |
+576,896
| New | +$253M |
|
34
Coupang
CPNG
$29.2B
| $243M | 0.74% |
10,319,665
-704,512
| -6% | -$20M |
|
35
Tetra Tech
TTEK
$9.07B
| $235M | 0.71% |
7,007,004
-172,028
| -2% | -$5.82M |
|
36
HDFC Bank
HDB
$121B
| $224M | 0.68% |
6,117,362
-73,426
| -1% | -$2.64M |
|
37
Datadog
DDOG
$84B
| $206M | 0.63% |
1,513,800
-380,880
| -20% | -$60.2M |
|
38
Liberty Media Series C
FWONK
$25.8B
| $205M | 0.62% |
2,082,513
+67,886
| +3% | +$6.66M |
|
39
Carpenter Technology
CRS
$28.4B
| $196M | 0.6% |
+621,684
| New | +$187M |
|
|
WCN
40
Waste Connections
WCN
$42B
| $169M | 0.52% |
965,880
-217,314
| -18% | -$37.6M |
|
41
Kaspi.kz JSC
KSPI
$17.2B
| $152M | 0.46% |
1,948,761
+304,521
| +19% | +$23M |
|
42
McKesson
MCK
$101B
| $143M | 0.43% |
174,268
+17,122
| +11% | +$14M |
|
43
TransDigm Group
TDG
$67.7B
| $137M | 0.42% |
103,179
+9,883
| +11% | +$13M |
|
44
Roper Technologies
ROP
$39.8B
| $128M | 0.39% |
287,318
-64,457
| -18% | -$29.9M |
|
45
Amphenol
APH
$209B
| $119M | 0.36% |
879,004
+83,770
| +11% | +$11.2M |
|
46
Ferrari
RACE
$72.5B
| $115M | 0.35% |
309,983
+58,285
| +23% | +$23.3M |
|
47
SAP
SAP
$238B
| $95.7M | 0.29% |
394,117
-46,153
| -10% | -$11.8M |
|
48
Ultragenyx Pharmaceutical
RARE
$2.55B
| $80.2M | 0.24% |
3,485,724
-284,129
| -8% | -$9.34M |
|
49
Cadence Design Systems
CDNS
$93.4B
| $78.8M | 0.24% |
252,008
-79,879
| -24% | -$26.1M |
|
50
Boston Scientific
BSX
$71.5B
| $76.8M | 0.23% |
+805,164
| New | +$78.9M |
|
Similar funds
KK
VAI
UIM
Sands Capital Management's Q4 2025 Portfolio in Review
As of Q4 2025, Sands Capital Management held 70 positions worth $32.9B, down 9.3% from $36.2B the previous quarter. Its ten largest holdings account for 49% of the portfolio.
Sands Capital Management withdrew a net $2.09B in Q4 2025, closing 4 positions and reducing 38 holdings. Its most notable exit was DexCom, an estimated $332M position sold in full.
By sector, the portfolio is most concentrated in Technology at 41% of assets, down from 43% a quarter earlier, followed by Consumer Discretionary and Communication Services.
Against the trend, Sands Capital Management opened a new position in Quanta Services worth $243M.
- Sands Capital Management's largest Q4 2025 buy was Quanta Services: 576,896 shares worth $243M.
- Sands Capital Management added most to Shopify in Q4 2025, an estimated $412M increase.
- Sands Capital Management's biggest Q4 2025 reduction was TSMC, cutting an estimated $712M.
- Sands Capital Management fully exited DexCom in Q4 2025, selling an estimated $332M.
- Sands Capital Management's ten largest holdings make up 49% of its $32.9B portfolio in Q4 2025.
- Sands Capital Management opened 6 new positions and closed 4 in Q4 2025.
- Sands Capital Management's portfolio value fell 9.3% quarter-over-quarter to $32.9B.
Based on Sands Capital Management's 13F filing for Q4 2025, filed 13 Feb 2026.