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Asset manager

Sands Capital Management, LLC

13F for the quarter to June 30, 2026, filed August 13, 2026 · SEC CIK 1020066

Reported value
$26.9bn
99% in companies we cover
Positions we cover
69
Largest NVDA 10.4%
Copy, a year
+13.2%
S&P 500 +14.1%
Copy Sharpe ratio
0.55
S&P 500 0.78

How copying its 13F would have done

$10.0k$20.0k$40.0k 2013201520172019202120232025 $57.0k$51.2k
CopyS&P 500 $10,000 copying Sands Capital Management, LLC's filed holdings in companies we cover from August 16, 2013, buying on the first trading day after each 13F was filed and holding until the next, against the S&P 500 (total return). Marked weekly, log scale. Before costs and taxes; misses trading within each quarter and anything 13F does not show (shorts, cash, bonds, non-US holdings).

Biggest drop −58.1% (S&P 500 −31.8%); beta 1.25; alpha −2.4% a year (t = −0.66); last 12 months −11.2% against +12.1%.

Reported value by quarter

Sands Capital Management, LLC: 13F reported value Total value of all positions in each quarter's 13F, as filed (values before 2023 were filed in thousands of dollars and are converted).
$0 $50B $100B $150B Reported value, 2013-06-30: $29.7B Reported value, 2013-09-30: $35.8B Reported value, 2013-12-31: $38.2B Reported value, 2014-03-31: $38.4B Reported value, 2014-06-30: $39.7B Reported value, 2014-09-30: $40.2B Reported value, 2014-12-31: $42B Reported value, 2015-03-31: $42B Reported value, 2015-06-30: $40.7B Reported value, 2015-09-30: $35.8B Reported value, 2015-12-31: $38.8B Reported value, 2016-03-31: $33.9B Reported value, 2016-06-30: $32.4B Reported value, 2016-09-30: $34B Reported value, 2016-12-31: $28.7B Reported value, 2017-03-31: $31.8B Reported value, 2017-06-30: $33.3B Reported value, 2017-09-30: $33.4B Reported value, 2017-12-31: $33B Reported value, 2018-03-31: $33.8B Reported value, 2018-06-30: $34.9B Reported value, 2018-09-30: $35.4B Reported value, 2018-12-31: $28B Reported value, 2019-03-31: $32.4B Reported value, 2019-06-30: $33.6B Reported value, 2019-09-30: $31.1B Reported value, 2019-12-31: $34.4B Reported value, 2020-03-31: $30B Reported value, 2020-06-30: $41.3B Reported value, 2020-09-30: $46.2B Reported value, 2020-12-31: $105B Reported value, 2021-03-31: $51.7B Reported value, 2021-06-30: $59B Reported value, 2021-09-30: $60B Reported value, 2021-12-31: $53.9B Reported value, 2022-03-31: $43.5B Reported value, 2022-06-30: $28.9B Reported value, 2022-09-30: $26.6B Reported value, 2022-12-31: $26.5B Reported value, 2023-03-31: $30.4B Reported value, 2023-06-30: $32.2B Reported value, 2023-09-30: $29.4B Reported value, 2023-12-31: $32.9B Reported value, 2024-03-31: $35.8B Reported value, 2024-06-30: $34B Reported value, 2024-09-30: $32.9B Reported value, 2024-12-31: $33.8B Reported value, 2025-03-31: $29.4B Reported value, 2025-06-30: $34.8B Reported value, 2025-09-30: $36.2B Reported value, 2025-12-31: $32.9B Reported value, 2026-03-31: $25.5B Reported value, 2026-06-30: $26.9B 2013-06-30 2016-03-31 2018-12-31 2021-09-30 2026-06-30 $26.9B
View chart data
Period Reported value
2013-06-30 $29.7B
2013-09-30 $35.8B
2013-12-31 $38.2B
2014-03-31 $38.4B
2014-06-30 $39.7B
2014-09-30 $40.2B
2014-12-31 $42B
2015-03-31 $42B
2015-06-30 $40.7B
2015-09-30 $35.8B
2015-12-31 $38.8B
2016-03-31 $33.9B
2016-06-30 $32.4B
2016-09-30 $34B
2016-12-31 $28.7B
2017-03-31 $31.8B
2017-06-30 $33.3B
2017-09-30 $33.4B
2017-12-31 $33B
2018-03-31 $33.8B
2018-06-30 $34.9B
2018-09-30 $35.4B
2018-12-31 $28B
2019-03-31 $32.4B
2019-06-30 $33.6B
2019-09-30 $31.1B
2019-12-31 $34.4B
2020-03-31 $30B
2020-06-30 $41.3B
2020-09-30 $46.2B
2020-12-31 $105B
2021-03-31 $51.7B
2021-06-30 $59B
2021-09-30 $60B
2021-12-31 $53.9B
2022-03-31 $43.5B
2022-06-30 $28.9B
2022-09-30 $26.6B
2022-12-31 $26.5B
2023-03-31 $30.4B
2023-06-30 $32.2B
2023-09-30 $29.4B
2023-12-31 $32.9B
2024-03-31 $35.8B
2024-06-30 $34B
2024-09-30 $32.9B
2024-12-31 $33.8B
2025-03-31 $29.4B
2025-06-30 $34.8B
2025-09-30 $36.2B
2025-12-31 $32.9B
2026-03-31 $25.5B
2026-06-30 $26.9B

Holdings and moves

CompanyShare of portfolioValueSharesChange in shares
NVDANVIDIA Corporation10.45%$2.8bn14.06M−22.3% Reduced
TSMTaiwan Semiconductor Manufacturing Co LTD6.96%$1.9bn3.93M−33.0% Reduced
GOOGLAlphabet Inc. (Class A)6.49%$1.7bn4.89M−4.5% Reduced
AMZNAmazon4.30%$1.2bn4.86M−27.7% Reduced
ASMLAsml Holding NV3.94%$1.1bn533.7K−16.6% Reduced
BEBloom Energy3.29%$885.9m2.93M+64.5% Added
AXONAxon Enterprise3.08%$830.2m1.48M−5.3% Reduced
SHOPShopify Inc.3.07%$826.9m7.24M−19.0% Reduced
VVisa Inc.3.03%$815.6m2.38M−14.2% Reduced
SPOTSpotify Technology S.a.3.00%$808.6m1.76M−1.8% Reduced
NETCloudflare, Inc.2.95%$794.6m3.24M−11.5% Reduced
STXSeagate Technology2.58%$695.5m720.7K+35.5% Added
MELIMercadolibre Inc2.38%$642.0m378.2K−20.5% Reduced
MUMicron Technology2.26%$608.1m526.8KNew
CVNACarvana2.07%$557.0m8.46M+299.7% Added
METAMeta Platforms2.03%$546.3m969.9K−24.2% Reduced
PWRQuanta Services2.01%$540.4m750.5K+19.8% Added
ICEIntercontinental Exchange1.85%$499.3m4.06M−7.5% Reduced
ISRGIntuitive Surgical1.85%$498.1m1.25M−5.2% Reduced
LRCXLam Research1.82%$491.4m1.13M+50.1% Added
MSFTMicrosoft Corporation1.81%$488.4m1.31M−14.4% Reduced
CRSCarpenter Technology Corp1.80%$484.9m786.1K−4.5% Reduced
DASHDoorDash1.59%$429.2m2.33M−41.2% Reduced
APPApplovin Corp1.59%$428.5m831.7K−14.4% Reduced
XYZBlock, Inc.1.59%$428.1m5.63M+2.2% Added
AVGOBroadcom1.58%$425.7m1.13M−19.7% Reduced
AMDAdvanced Micro Devices1.45%$390.7m672.6KNew
SPCXSpace Exploration Technologies Corp1.45%$389.0m2.28MNew
NFLXNetflix1.42%$381.0m5.34M−43.3% Reduced
IOTSamsara Inc.1.37%$368.0m11.35M−27.5% Reduced
SNDKSandisk1.29%$348.1m153.1KNew
CSLCarlisle Companies Inc1.08%$290.2m799.9K−13.0% Reduced
SESea Ltd1.07%$287.3m3.00M−36.6% Reduced
ARGXArgenx SE1.03%$277.0m298.6K−12.3% Reduced
ONONOn Holding AG0.98%$265.1m7.49M+18.3% Added
DDOGDatadog, Inc.0.97%$260.3m999.8K−28.9% Reduced
SPHRSphere Entertainment Co.0.87%$235.0m1.36MNew
ARMARM Holdings PLC0.85%$227.9m642.8KNew
BLDRBuilders Firstsource, Inc.0.76%$204.3m2.28M−12.9% Reduced
NUNu Holdings Ltd.0.62%$166.7m12.48M−63.7% Reduced
FWONKLiberty Media Corp0.53%$143.6m1.51M−3.2% Reduced
MCKMcKesson0.52%$138.7m183.5K−8.8% Reduced
APHAmphenol0.50%$134.7m764.0K−5.2% Reduced
CPNGCoupang, Inc.0.49%$131.3m7.56M−17.6% Reduced
TDGTransDigm Group0.44%$119.4m89.7K−5.0% Reduced
RAREUltragenyx Pharmaceutical Inc.0.39%$105.5m3.16M−1.7% Reduced
RACEFerrari N.V.0.39%$104.3m280.1K−2.6% Reduced
WCNWaste Connections, Inc.0.38%$101.6m609.7K−4.0% Reduced
WWDWoodward, Inc.0.24%$65.4m153.7KNew
GRABGrab Holdings Ltd0.23%$61.8m16.39M+79.6% Added
LLYLilly (Eli)0.20%$54.4m45.3K+37.8% Added
YMMFull Truck Alliance Co. Ltd.0.13%$34.9m4.29M−13.6% Reduced
LINLinde plc0.11%$28.4m54.8K+0.3%
HDBHdfc Bank LTD0.08%$22.4m865.9K−4.6% Reduced
AAPLApple Inc.0.05%$13.2m45.6K+1316.5% Added
PANWPalo Alto Networks0.04%$10.7m31.3K−80.6% Reduced
STVNStevanato Group S.p.a.0.04%$9.5m524.5K+5.5% Added
CRWDCrowdStrike0.03%$7.6m10.0KNew
INTCIntel0.02%$5.5m39.1KNew
HOODRobinhood Markets0.02%$5.3m53.0K+1315.7% Added
TTMITTM Technologies Inc0.02%$4.4m23.6KNew
GTLBGitlab Inc.0.01%$3.9m127.5K0.0%
AVAVAerovironment Inc0.01%$3.1m19.0K+1315.3% Added
KVYOKlaviyo, Inc.0.01%$3.0m198.8K−66.6% Reduced
LITELumentum0.01%$2.5m3.0K+849.0% Added
CBRSCerebras Systems Inc.0.01%$2.5m11.4KNew
PLTRPalantir Technologies Inc.0.01%$2.1m17.9K−21.7% Reduced
BABAAlibaba Group Holding Ltd0.00%$667,0617.0K−10.8% Reduced
TBBBBBB Foods Inc0.00%$261,7296.3KNew
CompanyBought (value)Shares
MUMicron Technology$608.1m526.8K
CVNACarvana$417.7m6.35M
AMDAdvanced Micro Devices$390.7m672.6K
SPCXSpace Exploration Technologies Corp$389.0m2.28M
SNDKSandisk$348.1m153.1K
BEBloom Energy$347.4m1.15M
SPHRSphere Entertainment Co.$235.0m1.36M
ARMARM Holdings PLC$227.9m642.8K
STXSeagate Technology$182.2m188.8K
LRCXLam Research$164.1m378.7K
PWRQuanta Services$89.4m124.1K
WWDWoodward, Inc.$65.4m153.7K
ONONOn Holding AG$41.1m1.16M
GRABGrab Holdings Ltd$27.4m7.26M
LLYLilly (Eli)$14.9m12.4K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

CompanySold (value)Shares
TSMTaiwan Semiconductor Manufacturing Co LTD−$925.2m−1.94M
NVDANVIDIA Corporation−$805.6m−4.03M
AMZNAmazon−$442.8m−1.86M
DASHDoorDash−$301.0m−1.63M
NUNu Holdings Ltd.−$292.1m−21.87M
NFLXNetflix−$291.2m−4.08M
ASMLAsml Holding NV−$211.2m−106.1K
FLUTFlutter Entertainment plc−$202.8m−1.99M
TTEKTetra Tech Inc−$200.6m−6.66M
SHOPShopify Inc.−$193.4m−1.69M
METAMeta Platforms−$174.2m−309.2K
SESea Ltd−$165.8m−1.73M
MELIMercadolibre Inc−$165.1m−97.2K
RBLXRoblox Corp−$154.2m−2.73M
IOTSamsara Inc.−$139.7m−4.31M

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

CompanyValue last quarterShares
FLUTFlutter Entertainment plc$202.8m1.99M
TTEKTetra Tech Inc$200.6m6.66M
RBLXRoblox Corp$154.2m2.73M
BSXBoston Scientific$46.2m736.1K
FIGFigma, Inc.$4.0m187.6K
NOWServiceNow$3.3m31.5K
TEAMAtlassian Corp$974,67814.3K
SNOWSnowflake Inc.$630,1264.2K
ANETArista Networks$331,2602.7K
  • Technology46.2%
  • Communication Services15.5%
  • Industrials15.2%
  • Consumer Discretionary9.9%
  • Financials7.2%
  • Health Care4.0%
  • Materials1.9%
  • Consumer Staples0.0%

Share of the value held in companies we cover, by sector.

PeriodCopy, a yearS&P 500SharpeS&P 500Biggest dropBeta
Whole backtestAugust 16, 2013 to November 2, 2026+13.2%+14.1%0.550.78−58.1%1.25
2018 onwardsJanuary 5, 2018 to November 2, 2026+9.8%+13.9%0.380.66−58.1%1.27
Last three yearsNovember 3, 2023 to November 2, 2026+16.5%+21.8%0.601.16−26.0%1.42
Last yearNovember 7, 2025 to November 2, 2026−6.4%+14.2%−0.410.84−18.4%1.46

From SEC Form 13F data sets. A 13F lists long positions in US-listed shares at the quarter's end, filed up to 45 days later; it does not show shorts, cash, bonds, non-US holdings or trades within the quarter. Positions in companies outside our coverage are not listed here. Research, not investment advice.