SANDS CAPITAL MANAGEMENT, LLC

ARLINGTON, VA · CIK 1020066 · 13F filing filed 2026-08-13

SEC-registered investment adviser since 2005 · limited liability company

Assets managed$44.3bn
Staff182 · 66 in investment roles
Main clients (by assets)Private funds 39%, Mutual funds and ETFs 19%, State and local governments 13%
Private funds2 · $415.3m gross assets
Form ADV · 2026-07-28SEC adviser record

Legal entitySANDS CAPITAL MANAGEMENT, LLC (US)

Kindfutures
Others nearbyArlington, VA, London, San Francisco, CA, New York, NY, Singapore

As an employer

Offices in3 countries
Private fundsother private 2

Where they work

people there (dot area)number not reportedmain officeHover or tap a dot. Australian and UK companies are placed at their business or registered address, with their staff across the whole country.

Offices

From Form ADV: the main office and the other offices where it does advisory work (at most the 25 largest), with the people doing investment work at each. “About” is worked out: the firm's investment staff less its other offices. Each city links to the other managers there.

City	Country	People
Arlington, VA (main office)United States	United States	about 60
Fitzrovia LondonUnited Kingdom	United Kingdom	2
San Francisco, CAUnited States	United States	2
New York, NYUnited States	United States	1
San Juan, PRUnited States	United States	1
SingaporeSingapore	Singapore

US visa salary filings

Filings FY2024–20259
Median salary offered$115,000
Middle half$100,000 – $127,192
Job titles5

Job title	Filings	Median	Range
Sr. Research AssociateArlington, VA	4	$117,500	$115,000 – $160,000
Research AssociateArlington, VA	2	$100,000	$100,000 – $130,000
Sr. Research AnalystArlington, VA	1	$225,000	$225,000 – $275,000
Research AnalystArlington, VA	1	$185,000	$185,000 – $225,000
Research Associate, StewardshipArlington, VA	1	$100,000	$100,000 – $130,000

Source: US Department of Labor, Labor Condition Application disclosure data (certified, full-time, yearly equivalent). These are the salaries the employer committed to pay the visa roles it filed for, at least the prevailing wage for the job and place; they are not the pay of all its staff. Filed by: Sands Capital Management, LLC.

Map: places from GeoNames (CC BY 4.0), outlines from Natural Earth.

$26.9bn reported value +5.7% vs Q1 2026

71positions

47.6%in top 10

13 new 14 added 43 reduced 9 sold out vs Q1 2026

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	NVIDIA CORPORATION COM NVDA	NVDA	14,059,454	$2.8bn10.45%	10.45%	Reduced -4.0m	-4,026,288 -22.3%
2	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS TSM	TSM	3,925,440	$1.9bn6.96%	6.96%	Reduced -1.9m	-1,937,245 -33.0%
3	ALPHABET INC CAP STK CL A GOOGL	GOOGL	4,893,397	$1.7bn6.49%	6.49%	Reduced -231.1k	-231,097 -4.5%
4	AMAZON COM INC COM AMZN	AMZN	4,861,223	$1.2bn4.30%	4.30%	Reduced -1.9m	-1,857,832 -27.6%
5	ASML HOLDING N V N Y REGISTRY SHS ASML	ASML	533,693	$1.1bn3.94%	3.94%	Reduced -106.1k	-106,140 -16.6%
6	BLOOM ENERGY CORP COM CL A BE	BE	2,926,558	$885.9m3.29%	3.29%	Added +1.1m	+1,147,520 64.5%
7	AXON ENTERPRISE INC COM AXON	AXON	1,480,817	$830.2m3.08%	3.08%	Reduced -83.7k	-83,687 -5.3%
8	SHOPIFY INC CL A SUB VTG SHS SHOP	SHOP	7,242,079	$826.9m3.07%	3.07%	Reduced -1.7m	-1,693,587 -18.9%
9	VISA INC COM CL A V	V	2,377,099	$815.6m3.03%	3.03%	Reduced -393.3k	-393,332 -14.2%
10	SPOTIFY TECHNOLOGY S A SHS SPOT	SPOT	1,761,206	$808.6m3.00%	3.00%	Reduced -33.0k	-33,020 -1.8%
11	CLOUDFLARE INC CL A COM NET	NET	3,239,504	$794.6m2.95%	2.95%	Reduced -422.2k	-422,245 -11.5%
12	SEAGATE TECHNOLOGY HLDNGS PL ORD SHS STX	STX	720,741	$695.5m2.58%	2.58%	Added +188.8k	+188,849 35.5%
13	MERCADOLIBRE INC COM MELI	MELI	378,208	$642.0m2.38%	2.38%	Reduced -97.2k	-97,247 -20.4%
14	MICRON TECHNOLOGY INC COM MU	MU	526,810	$608.1m2.26%	2.26%	New
15	CARVANA CO CL A CVNA	CVNA	8,462,945	$557.0m2.07%	2.07%	Reduced -2.1m	-2,123,295 -20.1%
16	META PLATFORMS INC CL A META	META	969,879	$546.3m2.03%	2.03%	Reduced -309.2k	-309,242 -24.2%
17	QUANTA SVCS INC COM PWR	PWR	750,479	$540.4m2.01%	2.01%	Added +124.1k	+124,131 19.8%
18	INTERCONTINENTAL EXCHANGE IN COM ICE	ICE	4,055,771	$499.3m1.85%	1.85%	Reduced -328.5k	-328,527 -7.5%
19	INTUITIVE SURGICAL INC COM NEW ISRG	ISRG	1,252,424	$498.1m1.85%	1.85%	Reduced -68.8k	-68,850 -5.2%
20	LAM RESEARCH CORP COM NEW LRCX	LRCX	1,133,965	$491.4m1.82%	1.82%	Added +378.7k	+378,743 50.1%
21	MICROSOFT CORP COM MSFT	MSFT	1,309,230	$488.4m1.81%	1.81%	Reduced -220.9k	-220,894 -14.4%
22	CARPENTER TECHNOLOGY CORP COM CRS	CRS	786,150	$484.9m1.80%	1.80%	Reduced -37.1k	-37,127 -4.5%
23	DOORDASH INC CL A DASH	DASH	2,325,795	$429.2m1.59%	1.59%	Reduced -1.6m	-1,631,265 -41.2%
24	APPLOVIN CORP COM CL A APP	APP	831,697	$428.5m1.59%	1.59%	Reduced -139.9k	-139,864 -14.4%
25	BLOCK INC CL A XYZ	XYZ	5,632,505	$428.1m1.59%	1.59%	Added +121.7k	+121,670 2.2%
26	BROADCOM INC COM AVGO	AVGO	1,126,912	$425.7m1.58%	1.58%	Reduced -275.9k	-275,923 -19.7%
27	ADVANCED MICRO DEVICES INC COM AMD	AMD	672,555	$390.7m1.45%	1.45%	New
28	SPACE EXPLORATION TECHN CORP CLASS A COM STK SPCX	SPCX	2,276,744	$389.0m1.44%	1.44%	New
29	NETFLIX INC COM NFLX	NFLX	5,336,614	$381.0m1.42%	1.42%	Reduced -4.1m	-4,078,054 -43.3%
30	SAMSARA INC COM CL A IOT	IOT	11,348,732	$368.0m1.37%	1.37%	Reduced -4.3m	-4,309,012 -27.5%
31	SANDISK CORP COM SNDK	SNDK	153,093	$348.1m1.29%	1.29%	New
32	CARLISLE COS INC COM CSL	CSL	799,872	$290.2m1.08%	1.08%	Reduced -119.7k	-119,742 -13.0%
33	SEA LTD SPONSORD ADS SE	SE	2,998,337	$287.3m1.07%	1.07%	Reduced -1.7m	-1,730,213 -36.6%
34	ARGENX SE SPONSORED ADR ARGX	ARGX	298,599	$277.0m1.03%	1.03%	Reduced -41.7k	-41,686 -12.2%
35	ON HLDG AG NAMEN AKT A ONON	ONON	7,485,043	$265.1m0.98%	0.98%	Added +1.2m	+1,159,496 18.3%
36	DATADOG INC CL A COM DDOG	DDOG	999,799	$260.3m0.97%	0.97%	Reduced -406.6k	-406,567 -28.9%
37	SPHERE ENTERTAINMENT CO CL A SPHR	SPHR	1,358,321	$235.0m0.87%	0.87%	New
38	ARM HOLDINGS PLC SPONSORED ADS ARM	ARM	642,829	$227.9m0.85%	0.85%	New
39	BUILDERS FIRSTSOURCE INC COM BLDR	BLDR	2,283,236	$204.3m0.76%	0.76%	Reduced -337.8k	-337,849 -12.9%
40	NU HLDGS LTD ORD SHS CL A NU	NU	12,475,806	$166.7m0.62%	0.62%	Reduced -21.9m	-21,866,415 -63.7%
41	LIBERTY MEDIA CORP DEL COM LBTY ONE S C FWONK	FWONK	1,509,193	$143.6m0.53%	0.53%	Reduced -50.6k	-50,567 -3.2%
42	MCKESSON CORP COM MCK	MCK	183,535	$138.7m0.51%	0.51%	Reduced -17.7k	-17,748 -8.8%
43	AMPHENOL CORP CL A APH	APH	763,951	$134.7m0.50%	0.50%	Reduced -41.7k	-41,651 -5.2%
44	KASPI KZ JSC SPONSORED ADS KSPI	KSPI	1,531,017	$132.6m0.49%	0.49%	Reduced -55.3k	-55,317 -3.5%
45	COUPANG INC CL A CPNG	CPNG	7,559,132	$131.3m0.49%	0.49%	Reduced -1.6m	-1,613,055 -17.6%
46	TRANSDIGM GROUP INC COM TDG	TDG	89,669	$119.4m0.44%	0.44%	Reduced -4.7k	-4,672 -5.0%
47	ULTRAGENYX PHARMACEUTICAL IN COM RARE	RARE	3,158,368	$105.5m0.39%	0.39%	Reduced -56.2k	-56,165 -1.8%
48	FERRARI N V COM RACE	RACE	280,101	$104.3m0.39%	0.39%	Reduced -7.6k	-7,608 -2.6%
49	WASTE CONNECTIONS INC COM WCN	WCN	609,721	$101.6m0.38%	0.38%	Reduced -25.2k	-25,182 -4.0%
50	WOODWARD INC COM WWD	WWD	153,660	$65.4m0.24%	0.24%	New
51	GRAB HOLDINGS LIMITED CLASS A ORD GRAB	GRAB	16,385,578	$61.8m0.23%	0.23%	Added +7.3m	+7,263,146 79.6%
52	ELI LILLY & CO COM LLY	LLY	45,332	$54.4m0.20%	0.20%	Added +12.4k	+12,445 37.8%
53	FULL TRUCK ALLIANCE CO LTD SPONSORED ADS YMM	YMM	4,294,886	$34.9m0.13%	0.13%	Reduced -675.9k	-675,893 -13.6%
54	LINDE PLC SHS LIN	LIN	54,778	$28.4m0.11%	0.11%	Added +185	+185 0.3%
55	HDFC BANK LTD SPONSORED ADS HDB	HDB	865,858	$22.4m0.08%	0.08%	Reduced -41.8k	-41,794 -4.6%
56	APPLE INC COM AAPL	AAPL	45,598	$13.2m0.05%	0.05%	Added +42.4k	+42,379 1316.5%
57	PALO ALTO NETWORKS INC COM PANW	PANW	31,312	$10.7m0.04%	0.04%	Reduced -129.8k	-129,766 -80.6%
58	STEVANATO GROUP S P A ORD SHS STVN	STVN	524,481	$9.5m0.04%	0.04%	Added +27.2k	+27,171 5.5%
59	CROWDSTRIKE HLDGS INC CL A CRWD	CRWD	10,020	$7.6m0.03%	0.03%	New
60	INTEL CORP COM INTC	INTC	39,132	$5.5m0.02%	0.02%	New
61	ROBINHOOD MKTS INC COM CL A HOOD	HOOD	53,032	$5.3m0.02%	0.02%	Added +49.3k	+49,286 1315.7%
62	TTM TECHNOLOGIES INC COM TTMI	TTMI	23,625	$4.4m0.02%	0.02%	New
63	GITLAB INC CLASS A COM GTLB	GTLB	127,475	$3.9m0.01%	0.01%	Unchanged
64	AEROVIRONMENT INC COM AVAV	AVAV	18,993	$3.1m0.01%	0.01%	Added +17.7k	+17,651 1315.3%
65	KLAVIYO INC COM SER A KVYO	KVYO	198,806	$3.0m0.01%	0.01%	Reduced -396.4k	-396,354 -66.6%
66	ISHARES TR RUS 1000 GRW ETF IWF	IWF	22,200	$2.8m0.01%	0.01%	New
67	LUMENTUM HLDGS INC COM LITE	LITE	2,961	$2.5m0.01%	0.01%	Added +2.6k	+2,649 849.0%
68	CEREBRAS SYSTEMS INC COM CL A CBRS	CBRS	11,419	$2.5m0.01%	0.01%	New
69	PALANTIR TECHNOLOGIES INC CL A PLTR	PLTR	17,944	$2.1m0.01%	0.01%	Reduced -5.0k	-4,975 -21.7%
70	ALIBABA GROUP HLDG LTD SPONSORED ADS BABA	BABA	6,950	$667.1k0.00%	0.00%	Reduced -843	-843 -10.8%
71	BBB FOODS INC CL A COM TBBB	TBBB	6,281	$261.7k0.00%	0.00%	New

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
FLUTTER ENTMT PLC FLUT	FLUT	1,988,830	$202.8m2.0m shares
TETRA TECH INC NEW TTEK	TTEK	6,658,823	$200.6m6.7m shares
ROBLOX CORP RBLX	RBLX	2,726,701	$154.2m2.7m shares
BOSTON SCIENTIFIC CORP BSX	BSX	736,109	$46.2m736.1k shares
FIGMA INC FIG	FIG	187,577	$4.0m187.6k shares
SERVICENOW INC NOW	NOW	31,521	$3.3m31.5k shares
ATLASSIAN CORPORATION TEAM	TEAM	14,281	$974.7k14.3k shares
SNOWFLAKE INC SNOW	SNOW	4,178	$630.1k4.2k shares
ARISTA NETWORKS INC ANET	ANET	2,698	$331.3k2.7k shares