SANDS CAPITAL MANAGEMENT, LLC
CIK 1020066 · View on SEC EDGAR ↗
- Portfolio value
- $26.9B
- Positions
- 71
- As of
- June 30, 2026
#242 of 9,443 by 13F value · top 2.6%
Portfolio value QoQ: +5.7% 13F does not disclose cash
- Top 10 holdings weight
- 47.62%
- Top 25 holdings weight
- 77.82%
- Positions above 1%
- 34
- Effective number of positions
- 27.3
Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)
Turnover Q2 2026: 13.75% Est. buys $3,603,655,666 · sells $5,801,950,493
Median holding: 5.0 quarters Tracked Q4 2024–Q2 2026 · 64.0% still held
- New positions
- 13
- Increased
- 15
- Decreased
- 42
- Closed
- 9
On this page
- Performance vs S&P How this manager's 13F portfolio performed against the S&P 500.
- Sector breakdown How the portfolio splits across market sectors.
- Portfolio Every stock this institution reports holding, from its latest 13F.
- High-conviction bets The holdings this manager is most concentrated in.
- Biggest new bets Brand-new positions opened in the latest quarter.
- Top moves The biggest position increases and decreases this quarter.
- Exited positions Positions the manager fully sold out of last quarter.
Performance vs S&P 500
Annualized: +10.6% · S&P 500: +18.0%
Approximates a buy-and-hold portfolio built from quarterly SEC 13F snapshots. Excludes cash, short positions, options/derivatives, and non-13(f) securities — reflects the disclosed long-equity book only, not total fund AUM. SEC filing lag is up to 45 days; this is not a real-time-copyable timing.
Priceable coverage: 100.0% · Options excluded: 0.0%
Sector breakdown
Technology
45.1%
Communication Services
14.3%
Industrials
14.0%
Retail
10.3%
Financial Services
7.0%
Healthcare
4.0%
Consumer Discretionary
3.0%
Financials
0.7%
Materials
0.1%
Communications
0.0%
Other/Unmapped
1.5%
Full portfolio 71 positions
| Type | Streak | 8Q trend | |||||
|---|---|---|---|---|---|---|---|
| NVDA NVIDIA Corporation - Common Stock | $2,813,156,151 | 10.45% | 14,059,454 | $-340,997,254 | Down ×4 | ||
| TSM Taiwan Semiconductor Manufacturing Company Ltd. | $1,874,672,381 | 6.96% | 3,925,440 | $-106,622,015 | Down ×3 | ||
| GOOGL Alphabet Inc. - Class A Common Stock | $1,748,753,286 | 6.49% | 4,893,397 | $275,153,791 | Down ×1 | ||
| AMZN Amazon.com, Inc. - Common Stock | $1,158,623,890 | 4.30% | 4,861,223 | $-240,753,695 | Down ×6 | ||
| ASML ASML Holding N.V. - New York Registry Shares | $1,061,750,202 | 3.94% | 533,693 | $216,639,581 | Down ×2 | ||
| BE Bloom Energy Corporation Class A Common Stock | $885,869,107 | 3.29% | 2,926,558 | $644,827,248 | Up ×1 | ||
| AXON Axon Enterprise, Inc. - Common Stock | $830,160,818 | 3.08% | 1,480,817 | $165,731,614 | Down ×2 | ||
| SHOP Shopify Inc. - Class A Subordinate Voting Shares | $826,900,580 | 3.07% | 7,242,079 | $-233,048,121 | Down ×2 | ||
| V Visa Inc. | $815,558,896 | 3.03% | 2,377,099 | $-21,776,169 | Down ×4 | ||
| SPOT Spotify Technology S.A. Ordinary Shares | $808,622,511 | 3.00% | 1,761,206 | $-61,415,619 | Down ×1 | ||
| NET Cloudflare, Inc. Class A Common Stock | $794,585,541 | 2.95% | 3,239,504 | $39,020,252 | Down ×6 | ||
| STX Seagate Technology Holdings PLC - Ordinary Shares (Ireland) | $695,515,065 | 2.58% | 720,741 | $487,141,055 | Up ×1 | ||
| MELI MercadoLibre, Inc. - Common Stock | $641,966,477 | 2.38% | 378,208 | $-180,104,727 | Down ×6 | ||
| MU Micron Technology, Inc. - Common Stock | $608,091,515 | 2.26% | 526,810 | Up ×1 | |||
| CVNA Carvana Co. Class A Common Stock | $557,031,040 | 2.07% | 8,462,945 | $-108,589,386 | Up ×1 | ||
| META Meta Platforms, Inc. - Class A Common Stock | $546,323,142 | 2.03% | 969,879 | $-185,500,356 | Down ×1 | ||
| PWR Quanta Services, Inc. Common Stock | $540,374,899 | 2.01% | 750,479 | $196,497,320 | Up ×2 | ||
| ICE Intercontinental Exchange Inc. Common Stock | $499,305,968 | 1.85% | 4,055,771 | $-190,256,421 | Down ×3 | ||
| ISRG Intuitive Surgical, Inc. - Common Stock | $498,063,976 | 1.85% | 1,252,424 | $-111,030,125 | Down ×2 | ||
| LRCX Lam Research Corporation - Common Stock | $491,381,053 | 1.82% | 1,133,965 | $330,020,320 | Up ×1 | ||
| MSFT Microsoft Corporation - Common Stock | $488,368,975 | 1.81% | 1,309,230 | $-78,037,026 | Down ×4 | ||
| CRS Carpenter Technology Corporation Common Stock | $484,928,766 | 1.80% | 786,150 | $160,434,136 | Down ×1 | ||
| DASH DoorDash, Inc. - Common Stock | $429,178,951 | 1.59% | 2,325,795 | $-164,973,608 | Down ×2 | ||
| APP Applovin Corporation - Class A Common Stock | $428,515,245 | 1.59% | 831,697 | $41,833,967 | Down ×2 | ||
| XYZ Block, Inc. Class A Common Stock, | $428,070,380 | 1.59% | 5,632,505 | $96,428,330 | Up ×1 | ||
| AVGO Broadcom Inc. - Common Stock | $425,691,008 | 1.58% | 1,126,912 | $-8,500,453 | Down ×2 | ||
| AMD Advanced Micro Devices, Inc. - Common Stock | $390,693,925 | 1.45% | 672,555 | Up ×1 | |||
| Unknown issuer (CUSIP: 84615Q103) | $389,004,480 | 1.44% | 2,276,744 | Up ×1 | |||
| NFLX Netflix, Inc. - Common Stock | $381,034,240 | 1.42% | 5,336,614 | $-524,186,088 | Down ×2 | ||
| IOT Samsara Inc. Class A Common Stock | $368,039,379 | 1.37% | 11,348,732 | $-128,154,528 | Down ×3 | ||
| SNDK Sandisk Corporation - Common Stock | $348,092,147 | 1.29% | 153,093 | Up ×1 | |||
| CSL Carlisle Companies Incorporated Common Stock | $290,153,568 | 1.08% | 799,872 | $-16,648,055 | Down ×2 | ||
| SE Sea Limited American Depositary Shares, each representing one Class A Ordinary Share | $287,330,635 | 1.07% | 2,998,337 | $-104,240,590 | Down ×2 | ||
| ARGX argenx SE - American Depositary Shares | $277,031,194 | 1.03% | 298,599 | $28,538,073 | Down ×2 | ||
| ONON On Holding AG Class A Ordinary Shares | $265,120,223 | 0.98% | 7,485,043 | $49,925,114 | Up ×1 | ||
| DDOG Datadog, Inc. - Class A Common Stock | $260,307,668 | 0.97% | 999,799 | $94,286,162 | Down ×6 | ||
| SPHR Sphere Entertainment Co. Class A Common Stock | $235,030,283 | 0.87% | 1,358,321 | Up ×1 | |||
| ARM Arm Holdings plc - American Depositary Shares | $227,927,879 | 0.85% | 642,829 | Up ×1 | |||
| BLDR Builders FirstSource, Inc. Common Stock | $204,303,957 | 0.76% | 2,283,236 | $-11,489,971 | Down ×2 | ||
| NU Nu Holdings Ltd. Class A Ordinary Shares | $166,676,768 | 0.62% | 12,475,806 | $-326,820,948 | Down ×4 | ||
| FWONK Liberty Media Corporation - Series C Liberty Formula One Common Stock | $143,584,622 | 0.53% | 1,509,193 | $10,973,827 | Down ×2 | ||
| MCK McKesson Corporation Common Stock | $138,679,046 | 0.51% | 183,535 | $-35,503,211 | Down ×1 | ||
| APH Amphenol Corporation Common Stock | $134,699,840 | 0.50% | 763,951 | $32,912,027 | Down ×2 | ||
| KSPI Joint Stock Company Kaspi.kz - American Depository Shares | $132,647,313 | 0.49% | 1,531,017 | $15,147,554 | Down ×2 | ||
| CPNG Coupang, Inc. Class A Common Stock | $131,302,123 | 0.49% | 7,559,132 | $-41,868,768 | Down ×6 | ||
| TDG Transdigm Group Incorporated Common Stock | $119,442,695 | 0.44% | 89,669 | $10,105,250 | Down ×2 | ||
| RARE Ultragenyx Pharmaceutical Inc. - Common Stock | $105,457,908 | 0.39% | 3,158,368 | $38,113,442 | Down ×6 | ||
| RACE Ferrari N.V. Common Shares | $104,278,801 | 0.39% | 280,101 | $6,903,690 | Down ×2 | ||
| WCN Waste Connections, Inc. Common Shares | $101,634,393 | 0.38% | 609,721 | $-1,499,250 | Down ×3 | ||
| WWD Woodward, Inc. - Common Stock | $65,373,110 | 0.24% | 153,660 | Up ×1 | |||
| GRAB Grab Holdings Limited - Class A Ordinary Shares | $61,773,629 | 0.23% | 16,385,578 | $28,385,528 | Up ×1 | ||
| LLY Eli Lilly and Company Common Stock | $54,372,561 | 0.20% | 45,332 | $24,124,085 | Up ×1 | ||
| YMM Full Truck Alliance Co. Ltd. American Depositary Shares (each representing 20 Class A Ordinary Shares) | $34,874,474 | 0.13% | 4,294,886 | $-6,382,992 | Down ×5 | ||
| LIN Linde plc - Ordinary Shares | $28,426,495 | 0.11% | 54,778 | $1,361,469 | Up ×1 | ||
| HDB HDFC Bank Limited Common Stock | $22,365,112 | 0.08% | 865,858 | $-217,270 | Down ×3 | ||
| AAPL Apple Inc. - Common Stock | $13,194,237 | 0.05% | 45,598 | $12,377,287 | Up ×1 | ||
| PANW Palo Alto Networks, Inc. - Common Stock | $10,678,018 | 0.04% | 31,312 | $-15,146,007 | Down ×3 | ||
| STVN Stevanato Group S.p.A. Ordinary Shares | $9,477,372 | 0.04% | 524,481 | $2,639,360 | Up ×4 | ||
| CRWD CrowdStrike Holdings, Inc. - Class A Common Stock | $7,646,663 | 0.03% | 10,020 | ||||
| INTC Intel Corporation - Common Stock | $5,464,001 | 0.02% | 39,132 | Up ×1 | |||
| HOOD Robinhood Markets, Inc. - Class A Common Stock | $5,318,049 | 0.02% | 53,032 | $5,058,451 | Up ×1 | ||
| TTMI TTM Technologies, Inc. - Common Stock | $4,418,347 | 0.02% | 23,625 | Up ×1 | |||
| GTLB GitLab Inc. - Class A Common Stock | $3,891,812 | 0.01% | 127,475 | $1,133,253 | |||
| AVAV AeroVironment, Inc. - Common Stock | $3,135,175 | 0.01% | 18,993 | $2,889,522 | Up ×1 | ||
| KVYO Klaviyo, Inc. Series A Common Stock | $3,001,971 | 0.01% | 198,806 | $-8,579,843 | Down ×4 | ||
| IWF | $2,756,574 | 0.01% | 22,200 | ||||
| LITE Lumentum Holdings Inc. - Common Stock | $2,540,716 | 0.01% | 2,961 | $2,321,455 | Up ×1 | ||
| Unknown issuer (CUSIP: 15675D103) | $2,523,599 | 0.01% | 11,419 | Up ×1 | |||
| PLTR Palantir Technologies Inc. - Class A Common Stock | $2,093,526 | 0.01% | 17,944 | $-1,259,065 | Down ×1 | ||
| BABA Alibaba Group Holding Limited American Depositary Shares each representing eight Ordinary share | $667,061 | 0.00% | 6,950 | $-310,649 | Down ×1 | ||
| TBBB BBB Foods Inc. Class A Common Shares | $261,729 | 0.00% | 6,281 | Up ×1 | |||
| No matches | |||||||
Conviction holdings
Positions increased for 3+ consecutive quarters.
Share counts are as reported in 13F filings (not split-adjusted)
| Security | Value | % of portfolio | Streak |
|---|---|---|---|
| STVN | $9,477,372 | 0.04% | up ×4 |
Biggest new bets
New positions opened this quarter, largest first.
| Security | Value | Shares | % of portfolio |
|---|---|---|---|
| MU | $608,091,515 | 526,810 | 2.26% |
| AMD | $390,693,925 | 672,555 | 1.45% |
| Unknown issuer (CUSIP: 84615Q103) | $389,004,480 | 2,276,744 | 1.44% |
| SNDK | $348,092,147 | 153,093 | 1.29% |
| SPHR | $235,030,283 | 1,358,321 | 0.87% |
| ARM | $227,927,879 | 642,829 | 0.85% |
| WWD | $65,373,110 | 153,660 | 0.24% |
| CRWD | $7,646,663 | 10,020 | 0.03% |
| INTC | $5,464,001 | 39,132 | 0.02% |
| TTMI | $4,418,347 | 23,625 | 0.02% |
| IWF | $2,756,574 | 22,200 | 0.01% |
| Unknown issuer (CUSIP: 15675D103) | $2,523,599 | 11,419 | 0.01% |
| TBBB | $261,729 | 6,281 | 0.00% |
Top movers (QoQ)
| Security | Action | Shares Δ | Value Δ |
|---|---|---|---|
| BE | Bought more | +1.1M | +$644.8M |
| NFLX | Trimmed | -4.1M | -$524.2M |
| STX | Bought more | +189K | +$487.1M |
| NVDA | Trimmed | -4.0M | -$341.0M |
| LRCX | Bought more | +379K | +$330.0M |
| NU | Trimmed | -21.9M | -$326.8M |
| GOOGL | Trimmed | -231K | +$275.2M |
| AMZN | Trimmed | -1.9M | -$240.8M |
| SHOP | Trimmed | -1.7M | -$233.0M |
| ASML | Trimmed | -106K | +$216.6M |
Exited positions
Includes corporate events (mergers, delistings) — not all exits are sells
Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.
| Security | Quarter | Shares before | Value before | Price since exit |
|---|---|---|---|---|
| DXCM | Dec. 31, 2025 | 4,934,189 | $332,021,578 | 34.8% |
| IRTC | March 31, 2026 | 1,699,645 | $301,585,009 | 8.6% |
| UBER | June 30, 2025 | 3,913,222 | $285,117,355 | -16.2% |
| ORCL | Dec. 31, 2025 | 936,043 | $263,252,733 | -24.9% |
| NKE | June 30, 2025 | 3,754,580 | $238,340,738 | -42.9% |
| FLUT | June 30, 2026 | 1,988,830 | $202,761,218 | -2.3% |
| TTEK | June 30, 2026 | 6,658,823 | $200,563,749 | 27.1% |
| RGEN | Sept. 30, 2025 | 1,251,088 | $155,610,325 | 32.1% |
| RBLX | June 30, 2026 | 2,726,701 | $154,222,209 | -28.5% |
| HTHT | June 30, 2025 | 3,587,089 | $132,758,164 | 45.8% |
| ROP | March 31, 2026 | 287,318 | $127,893,861 | 14.4% |
| ABNB | June 30, 2025 | 950,809 | $113,583,643 | 39.7% |
| GOOG | Sept. 30, 2025 | 603,385 | $107,034,465 | 39.2% |
| VG | Dec. 31, 2025 | 7,484,070 | $106,198,953 | 109.5% |
| CHTR | Sept. 30, 2025 | 242,432 | $99,108,626 | -46.5% |
| SAP | March 31, 2026 | 394,117 | $95,734,960 | 25.9% |
| UNH | June 30, 2025 | 174,787 | $91,544,691 | 24.2% |
| AAPL | June 30, 2025 | 355,649 | $79,000,312 | 50.2% |
| CDNS | March 31, 2026 | 252,008 | $78,772,661 | 13.0% |
| BZ | June 30, 2025 | 3,934,331 | $75,421,125 | -11.1% |
| TXN | March 31, 2025 | 391,807 | $73,467,731 | 47.5% |
| AJG | March 31, 2026 | 244,255 | $63,210,751 | 20.0% |
| XP | March 31, 2025 | 4,864,145 | $57,640,118 | 19.7% |
| SITE | March 31, 2025 | 414,943 | $54,677,039 | -21.1% |
| GLOB | March 31, 2026 | 770,560 | $50,371,507 | -14.9% |
| BSX | June 30, 2026 | 736,109 | $46,190,840 | 15.8% |
| OKTA | Sept. 30, 2025 | 300,517 | $30,042,684 | 44.7% |
| CP | March 31, 2025 | 411,228 | $29,760,570 | 36.1% |
| CRWD | Sept. 30, 2025 | 45,021 | $22,929,646 | -61.8% |
| MNDY | Dec. 31, 2025 | 116,213 | $22,509,296 | -40.0% |
| GLBE | June 30, 2025 | 522,035 | $18,610,548 | 20.1% |
| ICLR | Sept. 30, 2025 | 91,550 | $13,315,947 | -1.3% |
| IWF | June 30, 2025 | 26,465 | $9,556,247 | No longer tracked |
| DUOL | March 31, 2026 | 39,975 | $7,015,612 | 47.1% |
| FIG | June 30, 2026 | 187,577 | $3,965,378 | 48.5% |
| IWF | March 31, 2026 | 8,215 | $3,888,159 | No longer tracked |
| NOW | June 30, 2026 | 31,521 | $3,295,521 | 30.6% |
| EW | June 30, 2025 | 19,244 | $1,394,805 | 14.2% |
| ENTG | June 30, 2025 | 11,172 | $977,327 | 79.6% |
| TEAM | June 30, 2026 | 14,281 | $974,678 | 118.9% |
| SNOW | June 30, 2026 | 4,178 | $630,126 | 24.1% |
| PATH | June 30, 2025 | 44,642 | $459,813 | 22.9% |
| ANET | June 30, 2026 | 2,698 | $331,260 | 10.9% |
| TXG | March 31, 2025 | 12,542 | $180,103 | 613.8% |