ARLINGTON, VA · CIK 0001020066
Sands Capital
SANDS CAPITAL MANAGEMENT, LLC
Portfolio value
$36.25B
| # | Issuer | Ticker | Weight | Value | Shares / Prin | QoQ |
|---|---|---|---|---|---|---|
| 1 | NVIDIA CORPORATION | NVDA |
10.7%
|
$3.89B | 20,828,827 SH | reduced -3% |
| 2 | TAIWAN SEMICONDUCTOR MFG LTD ADR | TSM |
7.1%
|
$2.58B | 9,251,889 SH | increased +8% |
| 3 | AMAZON COM INC | AMZN |
5.1%
|
$1.85B | 8,413,999 SH | reduced -9% |
| 4 | MICROSOFT CORP | MSFT |
4.1%
|
$1.48B | 2,865,638 SH | reduced -3% |
| 5 | VISA INC Class A | V |
3.8%
|
$1.37B | 4,027,033 SH | reduced -0% |
| 6 | NETFLIX INC | NFLX |
3.7%
|
$1.34B | 1,120,658 SH | reduced -1% |
| 7 | MERCADOLIBRE INC | MELI |
3.3%
|
$1.19B | 509,845 SH | reduced -1% |
| 8 | ALPHABET INC Class A | GOOGL |
3.2%
|
$1.16B | 4,771,097 SH | increased +55% |
| 9 | SERVICENOW INC | NOW |
3.2%
|
$1.15B | 1,246,277 SH | reduced -12% |
| 10 | DOORDASH INC Class A | DASH |
3.0%
|
$1.09B | 4,023,291 SH | reduced -16% |
| 11 | SPOTIFY TECHNOLOGY S A | SPOT |
3.0%
|
$1.08B | 1,547,640 SH | increased +14% |
| 12 | AXON ENTERPRISE INC | AXON |
2.9%
|
$1.04B | 1,442,341 SH | reduced -10% |
| 13 | SHOPIFY INC Class A | SHOP |
2.8%
|
$1.03B | 6,937,271 SH | reduced -7% |
| 14 | META PLATFORMS INC Class A | META |
2.8%
|
$1.02B | 1,388,064 SH | increased +6% |
| 15 | INTERCONTINENTAL EXCHANGE IN | ICE |
2.6%
|
$956.5M | 5,677,266 SH | increased +7% |
| 16 | SEA LTD ADR | SE |
2.4%
|
$872.8M | 4,883,167 SH | reduced -14% |
| 17 | BLOCK INC Class A | XYZ |
2.3%
|
$838.6M | 11,603,057 SH | increased +12% |
| 18 | CLOUDFLARE INC Class A | NET |
2.3%
|
$817.2M | 3,808,319 SH | reduced -23% |
| 19 | NU HLDGS LTD Class A | G6683N103 |
2.2%
|
$809.5M | 50,562,162 SH | reduced -7% |
| 20 | SAMSARA INC Class A | IOT |
2.1%
|
$764.3M | 20,518,332 SH | increased +6% |
| 21 | APPLOVIN CORP Class A | APP |
2.0%
|
$730.7M | 1,016,959 SH | increased +24% |
| 22 | BROADCOM INC | AVGO |
1.9%
|
$679.8M | 2,060,624 SH | increased +12% |
| 23 | CARVANA CO Class A | CVNA |
1.8%
|
$638.1M | 1,691,515 SH | increased +88% |
| 24 | INTUITIVE SURGICAL INC | ISRG |
1.7%
|
$599.8M | 1,341,109 SH | increased +77% |
| 25 | FLUTTER ENTMT PLC | FLUT |
1.5%
|
$540.1M | 2,126,306 SH | increased +0% |
| 26 | ASML HOLDING N V N Y Registry Shs | ASML |
1.4%
|
$512.3M | 529,164 SH | reduced -0% |
| 27 | ROBLOX CORP Class A | RBLX |
1.3%
|
$481.6M | 3,476,488 SH | reduced -3% |
| 28 | ATLASSIAN CORPORATION Class A | TEAM |
1.2%
|
$421.9M | 2,641,730 SH | increased +2% |
| 29 | IRHYTHM TECHNOLOGIES INC | IRTC |
1.1%
|
$384.6M | 2,236,110 SH | reduced -23% |
| 30 | COUPANG INC Class A | CPNG |
1.0%
|
$355.0M | 11,024,177 SH | reduced -8% |
| 31 | GALLAGHER ARTHUR J & CO | AJG |
0.9%
|
$338.9M | 1,094,070 SH | reduced -2% |
| 32 | DEXCOM INC | DXCM |
0.9%
|
$332.0M | 4,934,189 SH | reduced -50% |
| 33 | BUILDERS FIRSTSOURCE INC | BLDR |
0.8%
|
$294.7M | 2,430,902 SH | increased +139% |
| 34 | ON HLDG AG Namen Akt A | H5919C104 |
0.8%
|
$286.7M | 6,769,430 SH | increased +47% |
| 35 | CARLISLE COS INC | CSL |
0.8%
|
$279.5M | 849,501 SH | increased +99% |
| 36 | DATADOG INC Class A | DDOG |
0.7%
|
$269.8M | 1,894,680 SH | reduced -32% |
| 37 | ORACLE CORP | ORCL |
0.7%
|
$263.3M | 936,043 SH | new |
| 38 | TETRA TECH INC NEW | TTEK |
0.7%
|
$239.6M | 7,179,032 SH | increased +38% |
| 39 | HDFC BANK LTD ADR | HDB |
0.6%
|
$211.5M | 6,190,788 SH | increased +115% |
| 40 | LIBERTY MEDIA CORP DEL | FWONK |
0.6%
|
$210.4M | 2,014,627 SH | increased +5% |
| 41 | WASTE CONNECTIONS INC | WCN |
0.6%
|
$208.0M | 1,183,194 SH | increased +6% |
| 42 | ROPER TECHNOLOGIES INC | ROP |
0.5%
|
$175.4M | 351,775 SH | increased +7% |
| 43 | KASPI KZ JSC ADR | KSPI |
0.4%
|
$134.3M | 1,644,240 SH | reduced -2% |
| 44 | TRANSDIGM GROUP INC | TDG |
0.3%
|
$123.0M | 93,296 SH | increased +7% |
| 45 | FERRARI N V | RACE |
0.3%
|
$122.1M | 251,698 SH | increased +3% |
| 46 | MCKESSON CORP | MCK |
0.3%
|
$121.4M | 157,146 SH | increased +8% |
| 47 | SAP SE ADR | SAP |
0.3%
|
$117.6M | 440,270 SH | increased +52% |
| 48 | CADENCE DESIGN SYSTEM INC | CDNS |
0.3%
|
$116.6M | 331,887 SH | increased +8% |
| 49 | ULTRAGENYX PHARMACEUTICAL IN | RARE |
0.3%
|
$113.4M | 3,769,853 SH | reduced -4% |
| 50 | VENTURE GLOBAL INC Class A | VG |
0.3%
|
$106.2M | 7,484,070 SH | reduced -5% |
| 51 | AMPHENOL CORP NEW Class A | APH |
0.3%
|
$98.4M | 795,234 SH | reduced -15% |
| 52 | FULL TRUCK ALLIANCE CO LTD ADR | YMM |
0.2%
|
$87.8M | 6,766,855 SH | reduced -2% |
| 53 | GRAB HOLDINGS LIMITED Class A | GRAB |
0.2%
|
$75.2M | 12,490,985 SH | reduced -33% |
| 54 | GLOBANT S A | GLOB |
0.1%
|
$48.7M | 848,262 SH | reduced -2% |
| 55 | LINDE PLC | LIN |
0.1%
|
$40.1M | 84,367 SH | reduced -3% |
| 56 | PALO ALTO NETWORKS INC | PANW |
0.1%
|
$39.6M | 194,619 SH | increased +26% |
| 57 | KLAVIYO INC | KVYO |
0.1%
|
$30.6M | 1,105,559 SH | reduced -0% |
| 58 | MONDAY COM LTD | MNDY |
0.1%
|
$22.5M | 116,213 SH | reduced -0% |
| 59 | DUOLINGO INC Class A | DUOL |
0.0%
|
$15.3M | 47,672 SH | new |
| 60 | ARGENX SE ADR | ARGX |
0.0%
|
$12.3M | 16,625 SH | new |
| 61 | STEVANATO GROUP S P A | STVN |
0.0%
|
$12.0M | 464,931 SH | increased +0% |
| 62 | FIGMA INC Class A | FIG |
0.0%
|
$11.8M | 226,752 SH | new |
| 63 | GITLAB INC Class A | GTLB |
0.0%
|
$5.7M | 127,475 SH | unchanged |
| 64 | SNOWFLAKE INC | SNOW |
0.0%
|
$2.7M | 11,960 SH | unchanged |
New this quarter
| Issuer | Ticker | Value | Shares |
|---|---|---|---|
| ORACLE CORP | ORCL | $263.3M | 936,043 |
| DUOLINGO INC | DUOL | $15.3M | 47,672 |
| ARGENX SE | ARGX | $12.3M | 16,625 |
| FIGMA INC | FIG | $11.8M | 226,752 |
Exited this quarter
| Issuer | Ticker | Prior value | Prior shares |
|---|---|---|---|
| REPLIGEN CORP | RGEN | $155.6M | 1,251,088 |
| ALPHABET INC | GOOG | $107.0M | 603,385 |
| CHARTER COMMUNICATIONS INC N | CHTR | $99.1M | 242,432 |
| OKTA INC | OKTA | $30.0M | 300,517 |
| CROWDSTRIKE HLDGS INC | CRWD | $22.9M | 45,021 |
| ICON PLC | ICLR | $13.3M | 91,550 |