ARLINGTON, VA · CIK 0001020066
Sands Capital
SANDS CAPITAL MANAGEMENT, LLC
Portfolio value
$34.83B
| # | Issuer | Ticker | Weight | Value | Shares / Prin | QoQ |
|---|---|---|---|---|---|---|
| 1 | NVIDIA CORPORATION | NVDA |
9.8%
|
$3.41B | 21,557,208 SH | increased +8% |
| 2 | AMAZON COM INC | AMZN |
5.8%
|
$2.02B | 9,230,023 SH | reduced -17% |
| 3 | TAIWAN SEMICONDUCTOR MFG LTD ADR | TSM |
5.6%
|
$1.94B | 8,552,278 SH | increased +7% |
| 4 | NETFLIX INC | NFLX |
4.4%
|
$1.52B | 1,131,679 SH | reduced -23% |
| 5 | MICROSOFT CORP | MSFT |
4.2%
|
$1.47B | 2,954,745 SH | increased +12% |
| 6 | SERVICENOW INC | NOW |
4.2%
|
$1.45B | 1,408,333 SH | reduced -3% |
| 7 | VISA INC Class A | V |
4.1%
|
$1.43B | 4,030,104 SH | increased +6% |
| 8 | MERCADOLIBRE INC | MELI |
3.9%
|
$1.34B | 513,532 SH | reduced -16% |
| 9 | AXON ENTERPRISE INC | AXON |
3.8%
|
$1.33B | 1,611,295 SH | reduced -15% |
| 10 | DOORDASH INC Class A | DASH |
3.4%
|
$1.18B | 4,792,181 SH | reduced -13% |
| 11 | SPOTIFY TECHNOLOGY S A | SPOT |
3.0%
|
$1.04B | 1,354,803 SH | reduced -24% |
| 12 | INTERCONTINENTAL EXCHANGE IN | ICE |
2.8%
|
$974.8M | 5,313,039 SH | increased +97% |
| 13 | CLOUDFLARE INC Class A | NET |
2.8%
|
$965.2M | 4,928,874 SH | reduced -23% |
| 14 | META PLATFORMS INC Class A | META |
2.8%
|
$964.0M | 1,306,041 SH | reduced -13% |
| 15 | SEA LTD ADR | SE |
2.6%
|
$908.1M | 5,678,005 SH | reduced -17% |
| 16 | DEXCOM INC | DXCM |
2.5%
|
$868.4M | 9,947,944 SH | reduced -4% |
| 17 | SHOPIFY INC Class A | SHOP |
2.5%
|
$864.3M | 7,492,615 SH | reduced -38% |
| 18 | SAMSARA INC Class A | IOT |
2.2%
|
$766.8M | 19,276,210 SH | increased +17% |
| 19 | NU HLDGS LTD Class A | G6683N103 |
2.1%
|
$747.8M | 54,504,428 SH | increased +6% |
| 20 | BLOCK INC Class A | XYZ |
2.0%
|
$702.4M | 10,340,740 SH | increased +21% |
| 21 | FLUTTER ENTMT PLC | FLUT |
1.7%
|
$606.3M | 2,121,637 SH | reduced -3% |
| 22 | ALPHABET INC Class A | GOOGL |
1.6%
|
$543.8M | 3,085,879 SH | reduced -8% |
| 23 | ATLASSIAN CORPORATION Class A | TEAM |
1.5%
|
$525.7M | 2,588,723 SH | reduced -34% |
| 24 | BROADCOM INC | AVGO |
1.5%
|
$508.1M | 1,843,327 SH | increased +30% |
| 25 | IRHYTHM TECHNOLOGIES INC | IRTC |
1.3%
|
$448.9M | 2,915,527 SH | reduced -3% |
| 26 | ASML HOLDING N V N Y Registry Shs | ASML |
1.2%
|
$425.2M | 530,562 SH | reduced -5% |
| 27 | INTUITIVE SURGICAL INC | ISRG |
1.2%
|
$411.7M | 757,570 SH | increased +39% |
| 28 | ROBLOX CORP Class A | RBLX |
1.1%
|
$377.3M | 3,586,543 SH | reduced -10% |
| 29 | DATADOG INC Class A | DDOG |
1.1%
|
$372.4M | 2,772,015 SH | reduced -5% |
| 30 | COUPANG INC Class A | CPNG |
1.0%
|
$359.5M | 11,999,721 SH | reduced -1% |
| 31 | GALLAGHER ARTHUR J & CO | AJG |
1.0%
|
$358.9M | 1,121,249 SH | increased +453% |
| 32 | CARVANA CO Class A | CVNA |
0.9%
|
$303.7M | 901,227 SH | increased +1374% |
| 33 | APPLOVIN CORP Class A | APP |
0.8%
|
$286.1M | 817,346 SH | reduced -60% |
| 34 | ON HLDG AG Namen Akt A | H5919C104 |
0.7%
|
$240.2M | 4,614,347 SH | new |
| 35 | HDFC BANK LTD ADR | HDB |
0.6%
|
$221.1M | 2,883,335 SH | reduced -1% |
| 36 | WASTE CONNECTIONS INC | WCN |
0.6%
|
$209.1M | 1,120,082 SH | increased +1% |
| 37 | LIBERTY MEDIA CORP DEL | FWONK |
0.6%
|
$199.7M | 1,911,033 SH | reduced -0% |
| 38 | TETRA TECH INC NEW | TTEK |
0.5%
|
$187.0M | 5,200,335 SH | increased +27% |
| 39 | ROPER TECHNOLOGIES INC | ROP |
0.5%
|
$185.8M | 327,846 SH | increased +1% |
| 40 | CARLISLE COS INC | CSL |
0.5%
|
$159.2M | 426,360 SH | new |
| 41 | REPLIGEN CORP | RGEN |
0.4%
|
$155.6M | 1,251,088 SH | reduced -3% |
| 42 | ULTRAGENYX PHARMACEUTICAL IN | RARE |
0.4%
|
$143.4M | 3,943,485 SH | reduced -5% |
| 43 | KASPI KZ JSC ADR | KSPI |
0.4%
|
$142.8M | 1,682,013 SH | increased +28% |
| 44 | TRANSDIGM GROUP INC | TDG |
0.4%
|
$132.1M | 86,900 SH | increased +1% |
| 45 | VENTURE GLOBAL INC Class A | VG |
0.4%
|
$122.4M | 7,854,539 SH | reduced -8% |
| 46 | FERRARI N V | RACE |
0.3%
|
$119.6M | 243,717 SH | reduced -1% |
| 47 | BUILDERS FIRSTSOURCE INC | BLDR |
0.3%
|
$118.6M | 1,016,773 SH | reduced -3% |
| 48 | ALPHABET INC Class C | GOOG |
0.3%
|
$107.0M | 603,385 SH | reduced -3% |
| 49 | MCKESSON CORP | MCK |
0.3%
|
$106.9M | 145,867 SH | increased +59% |
| 50 | CHARTER COMMUNICATIONS INC N Class A | CHTR |
0.3%
|
$99.1M | 242,432 SH | increased +1% |
| 51 | CADENCE DESIGN SYSTEM INC | CDNS |
0.3%
|
$95.0M | 308,191 SH | increased +1% |
| 52 | GRAB HOLDINGS LIMITED Class A | GRAB |
0.3%
|
$94.4M | 18,757,824 SH | reduced -4% |
| 53 | AMPHENOL CORP NEW Class A | APH |
0.3%
|
$92.8M | 940,121 SH | increased +1% |
| 54 | SAP SE ADR | SAP |
0.3%
|
$88.0M | 289,386 SH | increased +30% |
| 55 | FULL TRUCK ALLIANCE CO LTD ADR | YMM |
0.2%
|
$81.8M | 6,926,596 SH | reduced -32% |
| 56 | GLOBANT S A | GLOB |
0.2%
|
$79.0M | 869,376 SH | reduced -4% |
| 57 | LINDE PLC | LIN |
0.1%
|
$40.7M | 86,662 SH | reduced -3% |
| 58 | KLAVIYO INC | KVYO |
0.1%
|
$37.2M | 1,109,069 SH | increased +14% |
| 59 | MONDAY COM LTD | MNDY |
0.1%
|
$36.7M | 116,591 SH | increased +1% |
| 60 | PALO ALTO NETWORKS INC | PANW |
0.1%
|
$31.7M | 154,863 SH | new |
| 61 | OKTA INC Class A | OKTA |
0.1%
|
$30.0M | 300,517 SH | reduced -16% |
| 62 | CROWDSTRIKE HLDGS INC Class A | CRWD |
0.1%
|
$22.9M | 45,021 SH | increased +1% |
| 63 | ICON PLC | ICLR |
0.0%
|
$13.3M | 91,550 SH | reduced -3% |
| 64 | STEVANATO GROUP S P A | STVN |
0.0%
|
$11.4M | 464,635 SH | reduced -4% |
| 65 | GITLAB INC Class A | GTLB |
0.0%
|
$5.8M | 127,475 SH | unchanged |
| 66 | SNOWFLAKE INC Class A | SNOW |
0.0%
|
$2.7M | 11,960 SH | reduced -98% |
New this quarter
| Issuer | Ticker | Value | Shares |
|---|---|---|---|
| ON HLDG AG | — | $240.2M | 4,614,347 |
| CARLISLE COS INC | CSL | $159.2M | 426,360 |
| PALO ALTO NETWORKS INC | PANW | $31.7M | 154,863 |
Exited this quarter
| Issuer | Ticker | Prior value | Prior shares |
|---|---|---|---|
| UBER TECHNOLOGIES INC | UBER | $285.1M | 3,913,222 |
| NIKE INC | NKE | $238.3M | 3,754,580 |
| H WORLD GROUP LTD | HTHT | $132.8M | 3,587,089 |
| AIRBNB INC | ABNB | $113.6M | 950,809 |
| UNITEDHEALTH GROUP INC | UNH | $91.5M | 174,787 |
| APPLE INC | AAPL | $79.0M | 355,649 |
| KANZHUN LIMITED | BZ | $75.4M | 3,934,331 |
| GLOBAL E ONLINE LTD | GLBE | $18.6M | 522,035 |
| ISHARES TR | IWF | $9.6M | 26,465 |
| EDWARDS LIFESCIENCES CORP | EW | $1.4M | 19,244 |
| ENTEGRIS INC | ENTG | $977K | 11,172 |
| UIPATH INC | PATH | $460K | 44,642 |