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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 | |
|---|---|---|---|---|---|---|
51
Full Truck Alliance
YMM
$9.99B
| $65.7M | 0.2% |
6,123,768
-643,087
| -10% | -$7.71M |
|
52
Arthur J. Gallagher & Co
AJG
$63.6B
| $63.2M | 0.19% |
244,255
-849,815
| -78% | -$225M |
|
53
Grab
GRAB
$14.9B
| $56.1M | 0.17% |
11,244,055
-1,246,930
| -10% | -$6.89M |
|
54
Globant
GLOB
$1.61B
| $50.4M | 0.15% |
770,560
-77,702
| -9% | -$4.88M |
|
55
Klaviyo
KVYO
$4.73B
| $30.2M | 0.09% |
928,755
-176,804
| -16% | -$4.95M |
|
56
Palo Alto Networks
PANW
$297B
| $30M | 0.09% |
162,963
-31,656
| -16% | -$6.39M |
|
57
Linde
LIN
$226B
| $25.2M | 0.08% |
59,214
-25,153
| -30% | -$10.8M |
|
|
58
Atlassian
TEAM
$37.8B
| $22.1M | 0.07% |
136,534
-2,505,196
| -95% | -$393M |
|
59
Stevanato
STVN
$5.54B
| $9.92M | 0.03% |
493,006
+28,075
| +6% | +$652K |
|
|
FIG
60
Figma
FIG
$12.4B
| $7.09M | 0.02% |
189,782
-36,970
| -16% | -$1.67M |
|
61
Duolingo
DUOL
$6.12B
| $7.02M | 0.02% |
39,975
-7,697
| -16% | -$1.81M |
|
62
GitLab
GTLB
$6.58B
| $4.78M | 0.01% |
127,475
| – | – |
|
63
iShares Russell 1000 Growth ETF
IWF
$128B
| $3.89M | 0.01% |
+32,860
| New | +$3.89M |
|
64
Palantir
PLTR
$413B
| $3.53M | 0.01% |
+19,840
| New | +$3.59M |
|
65
Snowflake
SNOW
$115B
| $2.62M | 0.01% |
11,960
| – | – |
|
66
Alibaba
BABA
$308B
| $1.1M | ﹤0.01% |
+7,511
| New | +$1.22M |
|
|
67
DexCom
DXCM
$32B
| – | – |
-4,934,189
| Closed | -$332M |
|
68
monday.com
MNDY
$3.94B
| – | – |
-116,213
| Closed | -$22.5M |
|
69
Oracle
ORCL
$423B
| – | – |
-936,043
| Closed | -$263M |
|
|
VG
70
Venture Global Inc
VG
$32.9B
| – | – |
-7,484,070
| Closed | -$106M |
|
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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.