§ 13F · FUND PROFILE
SANDS CAPITAL MANAGEMENT, LLC.
Concentrated growth, long-duration holdings
AUM · $36248.2T (13F)Positions · 64Turnover · 97% · Q4Filed · Feb 13, 2026
CONCENTRATION
49%
Top 10 holdings
NEW BUYS
+6
+$524.5T deployed
EXITS
0
No exits
SECTOR SHIFT
FINANCIAL SERVICES → OTHER
-2pp · +2pp
3YR HIT RATE
—
Top-5 overlap
§ 01 · TOP HOLDINGS
The book · Q4 2025
FILED FEB 13, 2026
| # | Ticker | Name | Shares | $ value | % port | Δ Q4 |
|---|---|---|---|---|---|---|
| 1 | NVDA | NVIDIA CORPORATION | 20.04M | $3738.1T | 11.4% | −4% |
| 2 | TSM | TAIWAN SEMICONDUCTOR MFG LTD | 6.83M | $2074.4T | 6.3% | −26% |
| 3 | AMZN | AMAZON COM INC | 7.44M | $1717.3T | 5.2% | −12% |
| 4 | GOOGL | ALPHABET INC | 4.94M | $1545.9T | 4.7% | +4% |
| 5 | SHOP | SHOPIFY INC | 9.51M | $1530.2T | 4.7% | +37% |
| 6 | MSFT | MICROSOFT CORP | 2.47M | $1194.9T | 3.6% | −14% |
| 7 | V | VISA INC | 3.09M | $1083.7T | 3.3% | −23% |
| 8 | CVNA | CARVANA CO | 2.44M | $1030.8T | 3.1% | +44% |
| 9 | MELI | MERCADOLIBRE INC | 510K | $1026.6T | 3.1% | ±0% |
| 10 | DASH | DOORDASH INC | 4.50M | $1018.4T | 3.1% | +12% |
§ 02 · SECTOR ALLOCATION
Where the money is
Other22.4% (+2pp)
Semiconductors22.1% (+1pp)
Technology19.4% (−1pp)
Retail14.4% (+1pp)
Media14.1% (±0)
Financial Services7.6% (−1pp)
§ 03 · THE SANDS SIGNAL
AC read
SANDS CAPITAL MANAGEMENT, LLC is a Quality / Compounder fund managing $36248203.5 trillion in assets. The fund runs a portfolio of 64 positions, moderate concentration, with the top 10 accounting for 49%. Trading activity is aggressive at 97% quarterly turnover, with 6 new positions and 0 exits last quarter. Top sector allocations: Other (22%), Semiconductors (22%), Technology (19%).
Read the full dossier →§ 04 · FILING HISTORY
Q-by-Q deltas
1 FILINGS
Q4 2025
Busy quarter
+6 buys · −0 exits · 58 changed
Q3 2025
Steady book
+0 buys · −0 exits · 0 changed
Q1 2025
Steady book
+0 buys · −0 exits · 0 changed