Asset Manager · CIK 0001020066

Sands Capital Management

Sands Capital Management, an asset manager overseeing $32.88B in disclosed equity holdings (SEC CIK 0001020066). The latest portfolio (2025Q4) discloses 66 positions across 6 sectors, with the largest positions in NVDA, TSM and AMZN. On a mark-to-market basis the tracked portfolio has returned 12.0% over the past year. OpenStocks tracks 40 consecutive quarterly snapshots for this manager — every position change, new entry, and exit is logged below.

Track Sands's filings View holdings

Portfolio

$32.88B

Positions

Quarter

2025Q4

Filings tracked

1Y+12.0%5Y-27.5%Full performance →

Quarter

2025Q4 2025Q3 2025Q2 2025Q1 2024Q4 2024Q3 2024Q2 2024Q1 2023Q4 2023Q3 2023Q2 2023Q1

Holdings

Sorted by value · 2025Q4

Sector66 positions

NVDANVIDIA CORPORATION

Technology·Semiconductors

11.37%

of portfolio

Number of shares

20,043,571 sh

Holdings current value

$3.74B

Avg closing price

$142.93

+40.3%

Last action

Trimmed 3.8%

2025Q4

Current $200.57

TSMTAIWAN SEMICONDUCTOR MFG LTDADR

Technology·Semiconductors

6.31%

of portfolio

Number of shares

6,826,175 sh

Holdings current value

$2.07B

Avg closing price

$133.06

+173.1%

Last action

Trimmed 26.2%

2025Q4

Current $363.35

AMZNAMAZON COM INC

Consumer Cyclical·Internet Retail

5.22%

of portfolio

Number of shares

7,440,012 sh

Holdings current value

$1.72B

Avg closing price

$161.76

+54.4%

Last action

Trimmed 11.6%

2025Q4

Current $249.70

GOOGLALPHABET INC

Communication Services·Internet Content & Information

4.70%

of portfolio

Number of shares

4,939,049 sh

Holdings current value

$1.55B

Avg closing price

$126.12

+166.4%

Last action

Added 3.5%

2025Q4

Current $336.02

SHOPSHOPIFY INC

Technology·Software - Application

4.65%

of portfolio

Number of shares

9,506,036 sh

Holdings current value

$1.53B

Avg closing price

$94.95

+33.7%

Last action

Added 37.0%

2025Q4

Current $126.94

MSFTMICROSOFT CORP

Technology·Software - Infrastructure

3.63%

of portfolio

Number of shares

2,470,769 sh

Holdings current value

$1.19B

Avg closing price

$322.07

+31.3%

Last action

Trimmed 13.8%

2025Q4

Current $422.79

VVISA INC

Financial Services·Credit Services

3.30%

of portfolio

Number of shares

3,090,129 sh

Holdings current value

$1.08B

Avg closing price

$107.42

+193.3%

Last action

Trimmed 23.3%

2025Q4

Current $315.10

CVNACARVANA CO

Consumer Cyclical·Auto & Truck Dealerships

3.14%

of portfolio

Number of shares

2,442,534 sh

Holdings current value

$1.03B

Avg closing price

$375.27

-3.5%

Last action

Added 44.4%

2025Q4

Current $362.24

MELIMERCADOLIBRE INC

Consumer Cyclical·Internet Retail

3.12%

of portfolio

Number of shares

509,645 sh

Holdings current value

$1.03B

Avg closing price

$1152

+58.1%

Last action

Trimmed 0.0%

2025Q4

Current $1822

DASHDOORDASH INC

Consumer Cyclical·Internet Retail

3.10%

of portfolio

Number of shares

4,496,607 sh

Holdings current value

$1.02B

Avg closing price

$150.59

+19.1%

Last action

Added 11.8%

2025Q4

Current $179.33

APPAPPLOVIN CORP

Communication Services·Advertising Agencies

3.00%

of portfolio

Number of shares

1,463,351 sh

Holdings current value

$986.04M

Avg closing price

$464.76

+0.3%

Last action

Added 43.9%

2025Q4

Current $466.09

NFLXNETFLIX INC

Communication Services·Entertainment

2.86%

of portfolio

Number of shares

10,023,088 sh

Holdings current value

$939.76M

Avg closing price

$103.80

+3.8%

Last action

Added 794.4%

2025Q4

Current $107.79

AXONAXON ENTERPRISE INC

Industrials·Aerospace & Defense

2.78%

of portfolio

Number of shares

1,609,436 sh

Holdings current value

$914.05M

Avg closing price

$245.91

Last action

Added 11.6%

2025Q4

Current —

ICEINTERCONTINENTAL EXCHANGE IN

Financial Services·Financial Data & Stock Exchanges

2.71%

of portfolio

Number of shares

5,502,896 sh

Holdings current value

$891.25M

Avg closing price

$162.73

+0.6%

Last action

Trimmed 3.1%

2025Q4

Current $163.75

SPOTSPOTIFY TECHNOLOGY S A

Communication Services·Internet Content & Information

2.60%

of portfolio

Number of shares

1,469,848 sh

Holdings current value

$853.56M

Avg closing price

$441.54

+20.4%

Last action

Trimmed 5.0%

2025Q4

Current $531.45

METAMETA PLATFORMS INC

Communication Services·Internet Content & Information

2.52%

of portfolio

Number of shares

1,254,871 sh

Holdings current value

$828.33M

Avg closing price

$280.36

+141.4%

Last action

Trimmed 9.6%

2025Q4

Current $676.87

ISRGINTUITIVE SURGICAL INC

Healthcare·Medical Instruments & Supplies

2.37%

of portfolio

Number of shares

1,376,958 sh

Holdings current value

$779.85M

Avg closing price

$484.23

-5.4%

Last action

Added 2.7%

2025Q4

Current $458.08

NUNU HLDGS LTD

Financial Services·Banks - Regional

2.26%

of portfolio

Number of shares

44,423,895 sh

Holdings current value

$743.66M

Avg closing price

$6.67

+131.2%

Last action

Trimmed 12.1%

2025Q4

Current $15.43

NETCLOUDFLARE INC

Technology·Software - Infrastructure

2.24%

of portfolio

Number of shares

3,731,287 sh

Holdings current value

$735.62M

Avg closing price

$102.70

+92.2%

Last action

Trimmed 2.0%

2025Q4

Current $197.38

AVGOBROADCOM INC

Technology·Semiconductors

2.23%

of portfolio

Number of shares

2,114,521 sh

Holdings current value

$731.84M

Avg closing price

$210.30

+89.5%

Last action

Added 2.6%

2025Q4

Current $398.47

ASMLASML HOLDING N V

Technology·Semiconductor Equipment & Materials

2.18%

of portfolio

Number of shares

669,985 sh

Holdings current value

$716.79M

Avg closing price

$535.63

+163.4%

Last action

Added 26.6%

2025Q4

Current $1411

SESEA LTDADR

Consumer Cyclical·Internet Retail

2.13%

of portfolio

Number of shares

5,501,013 sh

Holdings current value

$701.76M

Avg closing price

$62.47

+44.7%

Last action

Added 12.7%

2025Q4

Current $90.40

IOTSAMSARA INC

Technology·Software - Infrastructure

2.06%

of portfolio

Number of shares

19,123,318 sh

Holdings current value

$677.92M

Avg closing price

$36.99

Last action

Trimmed 6.8%

2025Q4

Current —

NOWSERVICENOW INC

Technology·Software - Application

1.79%

of portfolio

Number of shares

3,842,914 sh

Holdings current value

$588.70M

Avg closing price

$196.23

-50.9%

Last action

Added 208.4%

2025Q4

Current $96.44

G3643J108FLUTTER ENTMT PLC

1.37%

of portfolio

Number of shares

2,087,048 sh

Holdings current value

$448.80M

Avg closing price

$204.87

Last action

Trimmed 1.8%

2025Q4

Current —

XYZBLOCK INC

Technology·Software - Infrastructure

1.17%

of portfolio

Number of shares

5,929,883 sh

Holdings current value

$385.98M

Avg closing price

$113.79

-39.6%

Last action

Trimmed 48.9%

2025Q4

Current $68.67

CSLCARLISLE COS INC

Industrials·Building Products & Equipment

0.94%

of portfolio

Number of shares

967,640 sh

Holdings current value

$309.51M

Avg closing price

$347.43

-0.0%

Last action

Added 13.9%

2025Q4

Current $347.26

H5919C104ON HLDG AG

0.94%

of portfolio

Number of shares

6,635,050 sh

Holdings current value

$308.40M

Avg closing price

$48.96

Last action

Trimmed 2.0%

2025Q4

Current —

IRTCIRHYTHM TECHNOLOGIES INC

Healthcare·Medical Devices

0.92%

of portfolio

Number of shares

1,699,645 sh

Holdings current value

$301.59M

Avg closing price

$179.47

-31.7%

Last action

Trimmed 24.0%

2025Q4

Current $122.61

ARGXARGENX SEADR

Healthcare·Biotechnology

0.91%

of portfolio

Number of shares

356,870 sh

Holdings current value

$300.11M

Avg closing price

$836.13

Last action

Added 2046.6%

2025Q4

Current —

BLDRBUILDERS FIRSTSOURCE INC

Industrials·Building Products & Equipment

0.86%

of portfolio

Number of shares

2,757,969 sh

Holdings current value

$283.77M

Avg closing price

$120.43

-30.3%

Last action

Added 13.5%

2025Q4

Current $83.90

RBLXROBLOX CORP

Communication Services·Electronic Gaming & Multimedia

0.78%

of portfolio

Number of shares

3,183,399 sh

Holdings current value

$257.95M

Avg closing price

$44.26

+36.6%

Last action

Trimmed 8.4%

2025Q4

Current $60.44

PWRQUANTA SVCS INC

Industrials·Engineering & Construction

0.74%

of portfolio

Number of shares

576,896 sh

Holdings current value

$243.48M

Avg closing price

$422.06

+39.2%

Last action

New holding

2025Q4

Current $587.42

CPNGCOUPANG INC

Consumer Cyclical·Internet Retail

0.74%

of portfolio

Number of shares

10,319,665 sh

Holdings current value

$243.44M

Avg closing price

$4.88

+340.6%

Last action

Trimmed 6.4%

2025Q4

Current $21.49

TTEKTETRA TECH INC NEW

Industrials·Engineering & Construction

0.71%

of portfolio

Number of shares

7,007,004 sh

Holdings current value

$235.01M

Avg closing price

$37.47

Last action

Trimmed 2.4%

2025Q4

Current —

HDBHDFC BANK LTDADR

Financial Services·Banks - Regional

0.68%

of portfolio

Number of shares

6,117,362 sh

Holdings current value

$223.53M

Avg closing price

$42.44

Last action

Trimmed 1.2%

2025Q4

Current —

DDOGDATADOG INC

Technology·Software - Application

0.63%

of portfolio

Number of shares

1,513,800 sh

Holdings current value

$205.86M

Avg closing price

$58.79

+110.0%

Last action

Trimmed 20.1%

2025Q4

Current $123.47

FWONKLIBERTY MEDIA CORP DELTRK

Communication Services·Entertainment

0.62%

of portfolio

Number of shares

2,082,513 sh

Holdings current value

$205.15M

Avg closing price

$65.93

+36.4%

Last action

Added 3.4%

2025Q4

Current $89.94

CRSCARPENTER TECHNOLOGY CORP

Industrials·Metal Fabrication

0.60%

of portfolio

Number of shares

621,684 sh

Holdings current value

$195.73M

Avg closing price

$314.84

+35.4%

Last action

New holding

2025Q4

Current $426.16

WCNWASTE CONNECTIONS INC

Industrials·Waste Management

0.52%

of portfolio

Number of shares

965,880 sh

Holdings current value

$169.38M

Avg closing price

$183.81

-13.0%

Last action

Trimmed 18.4%

2025Q4

Current $159.99

KSPIKASPI KZ JSCADR

Technology·Software - Infrastructure

0.46%

of portfolio

Number of shares

1,948,761 sh

Holdings current value

$152.26M

Avg closing price

$112.61

-27.9%

Last action

Added 18.5%

2025Q4

Current $81.23

MCKMCKESSON CORP

Healthcare·Medical Distribution

0.43%

of portfolio

Number of shares

174,268 sh

Holdings current value

$142.95M

Avg closing price

$712.47

+21.7%

Last action

Added 10.9%

2025Q4

Current $867.34

TDGTRANSDIGM GROUP INC

Industrials·Aerospace & Defense

0.42%

of portfolio

Number of shares

103,179 sh

Holdings current value

$137.21M

Avg closing price

$647.18

+89.8%

Last action

Added 10.6%

2025Q4

Current $1228

ROPROPER TECHNOLOGIES INC

Technology·Software - Application

0.39%

of portfolio

Number of shares

287,318 sh

Holdings current value

$127.89M

Avg closing price

$397.78

Last action

Trimmed 18.3%

2025Q4

Current —

APHAMPHENOL CORP NEW

Technology·Electronic Components

0.36%

of portfolio

Number of shares

879,004 sh

Holdings current value

$118.79M

Avg closing price

$72.57

+105.3%

Last action

Added 10.5%

2025Q4

Current $148.96

N3167Y103FERRARI N V

0.35%

of portfolio

Number of shares

309,983 sh

Holdings current value

$114.56M

Avg closing price

$343.94

Last action

Added 23.2%

2025Q4

Current —

SAPSAP SEADR

Technology·Software - Application

0.29%

of portfolio

Number of shares

394,117 sh

Holdings current value

$95.73M

Avg closing price

$273.39

Last action

Trimmed 10.5%

2025Q4

Current —

RAREULTRAGENYX PHARMACEUTICAL IN

Healthcare·Biotechnology

0.24%

of portfolio

Number of shares

3,485,724 sh

Holdings current value

$80.17M

Avg closing price

$45.18

Last action

Trimmed 7.5%

2025Q4

Current —

CDNSCADENCE DESIGN SYSTEM INC

Technology·Software - Application

0.24%

of portfolio

Number of shares

252,008 sh

Holdings current value

$78.77M

Avg closing price

$291.22

+5.4%

Last action

Trimmed 24.1%

2025Q4

Current $306.96

BSXBOSTON SCIENTIFIC CORP

Healthcare·Medical Devices

0.23%

of portfolio

Number of shares

805,164 sh

Holdings current value

$76.77M

Avg closing price

$40.61

+56.2%

Last action

New holding

2025Q4

Current $63.42

YMMFULL TRUCK ALLIANCE CO LTDADR

Technology·Software - Application

0.20%

of portfolio

Number of shares

6,123,768 sh

Holdings current value

$65.71M

Avg closing price

$11.60

Last action

Trimmed 9.5%

2025Q4

Current —

AJGGALLAGHER ARTHUR J & CO

Financial Services·Insurance Brokers

0.19%

of portfolio

Number of shares

244,255 sh

Holdings current value

$63.21M

Avg closing price

$324.66

-31.0%

Last action

Trimmed 77.7%

2025Q4

Current $224.08

G4124C109GRAB HOLDINGS LIMITED

0.17%

of portfolio

Number of shares

11,244,055 sh

Holdings current value

$56.11M

Avg closing price

$3.80

Last action

Trimmed 10.0%

2025Q4

Current —

L44385109GLOBANT S A

0.15%

of portfolio

Number of shares

770,560 sh

Holdings current value

$50.37M

Avg closing price

$151.93

Last action

Trimmed 9.2%

2025Q4

Current —

KVYOKLAVIYO INC

Technology·Software - Application

0.09%

of portfolio

Number of shares

928,755 sh

Holdings current value

$30.16M

Avg closing price

$30.04

Last action

Trimmed 16.0%

2025Q4

Current —

PANWPALO ALTO NETWORKS INC

Technology·Software - Infrastructure

0.09%

of portfolio

Number of shares

162,963 sh

Holdings current value

$30.02M

Avg closing price

$166.31

+0.4%

Last action

Trimmed 16.3%

2025Q4

Current $166.97

G54950103LINDE PLC

0.08%

of portfolio

Number of shares

59,214 sh

Holdings current value

$25.25M

Avg closing price

$418.66

Last action

Trimmed 29.8%

2025Q4

Current —

TEAMATLASSIAN CORPORATION

Technology·Software - Application

0.07%

of portfolio

Number of shares

136,534 sh

Holdings current value

$22.14M

Avg closing price

$19.57

Last action

Trimmed 94.8%

2025Q4

Current —

T9224W109STEVANATO GROUP S P A

0.03%

of portfolio

Number of shares

493,006 sh

Holdings current value

$9.92M

Avg closing price

$30.82

Last action

Added 6.0%

2025Q4

Current —

FIGFIGMA INC

Technology·Software - Application

0.02%

of portfolio

Number of shares

189,782 sh

Holdings current value

$7.09M

Avg closing price

$51.87

-60.8%

Last action

Trimmed 16.3%

2025Q4

Current $20.32

DUOLDUOLINGO INC

Technology·Software - Application

0.02%

of portfolio

Number of shares

39,975 sh

Holdings current value

$7.02M

Avg closing price

$321.84

-67.9%

Last action

Trimmed 16.1%

2025Q4

Current $103.45

GTLBGITLAB INC

Technology·Software - Infrastructure

0.01%

of portfolio

Number of shares

127,475 sh

Holdings current value

$4.78M

Avg closing price

$40.75

-46.4%

Last action

Added 11.1%

2024Q2

Current $21.83

IWFISHARES TRETF

0.01%

of portfolio

Number of shares

8,215 sh

Holdings current value

$3.89M

Avg closing price

$367.27

+27.8%

Last action

New holding

2025Q4

Current $469.23

PLTRPALANTIR TECHNOLOGIES INC

Technology·Software - Infrastructure

0.01%

of portfolio

Number of shares

19,840 sh

Holdings current value

$3.53M

Avg closing price

$177.75

-19.7%

Last action

New holding

2025Q4

Current $142.76

SNOWSNOWFLAKE INC

Technology·Software - Application

0.01%

of portfolio

Number of shares

11,960 sh

Holdings current value

$2.62M

Avg closing price

$233.99

-38.7%

Last action

Trimmed 98.0%

2025Q2

Current $143.55

BABAALIBABA GROUP HLDG LTDADR

Consumer Cyclical·Internet Retail

0.00%

of portfolio

Number of shares

7,511 sh

Holdings current value

$1.10M

Avg closing price

$120.67

+14.9%

Last action

New holding

2025Q4

Current $138.59

Portfolio heatmap

Box size = % of portfolio · color = return since filing

Sector exposure

Share of dollar value across the latest reported portfolio. Unclassified positions excluded.

Technology25 pos$13.33B41.8%
Consumer Cyclical7 pos$5.74B18.0%
Communication Services7 pos$5.62B17.6%
Financial Services5 pos$3.01B9.4%
Industrials8 pos$2.49B7.8%
Healthcare6 pos$1.68B5.3%

(3.1% unclassified, excluded from %)