§ 13F · FUND PROFILE
SANDS CAPITAL MANAGEMENT, LLC.
Concentrated growth, long-duration holdings
AUM · $26.9B (13F)Positions · 71Turnover · 99% · Q1Filed · Aug 13, 2026
CONCENTRATION
52%
Top 10 holdings
NEW BUYS
+9
+$2.3B deployed
EXITS
0
No exits
SECTOR SHIFT
TECHNOLOGY → SEMICONDUCTORS
-5pp · +4pp
§ 01 · TOP HOLDINGS
The book · Q1 2026
FILED AUG 13, 2026
| # | Ticker | Name | Shares | $ value | % port | Δ Q1 |
|---|---|---|---|---|---|---|
| 1 | NVDA | NVIDIA CORPORATION | 14.06M | $2.8B | 10.4% | −22% |
| 2 | TSM | TAIWAN SEMICONDUCTOR MANUFAC | 3.93M | $1.9B | 7.0% | −33% |
| 3 | GOOGL | ALPHABET INC | 4.89M | $1.7B | 6.5% | −5% |
| 4 | AMZN | AMAZON COM INC | 4.86M | $1.2B | 4.3% | −28% |
| 5 | ASML | ASML HLDG NV | 534K | $1.1B | 3.9% | −17% |
| 6 | BE | BLOOM ENERGY CORP | 2.93M | $886M | 3.3% | +65% |
| 7 | AXON | AXON ENTERPRISE INC | 1.48M | $830M | 3.1% | −5% |
| 8 | SHOP | SHOPIFY INC | 7.24M | $827M | 3.1% | −19% |
| 9 | V | VISA INC | 2.38M | $816M | 3.0% | −14% |
| 10 | SPOT | SPOTIFY TECHNOLOGY S A | 1.76M | $809M | 3.0% | −2% |
§ 02 · SECTOR ALLOCATION
Where the money is
Semiconductors25.8% (+4pp)
Other21.7% (−1pp)
Media16.7% (+3pp)
Technology14.5% (−5pp)
Retail13.5% (−1pp)
Financial Services7.8% (±0)
§ 03 · THE SANDS SIGNAL
AC read
SANDS CAPITAL MANAGEMENT, LLC is a Quality / Compounder fund managing $26.9 billion in assets. The fund runs a portfolio of 71 positions, moderate concentration, with the top 10 positions making up 52% of the portfolio. Trading activity is aggressive at 99% quarterly turnover, with 9 new positions and 0 exits last quarter. Top sector allocations: Semiconductors (26%), Other (22%), Media (17%).
Read the full dossier →§ 04 · FILING HISTORY
Q-by-Q deltas
3 OF 2 FILINGS MEASURED
Q1 2026
Busy quarter
+9 buys · −0 exits · 57 changed
Q4 2025
Busy quarter
+6 buys · −0 exits · 58 changed
Q3 2025
Busy quarter
+64 buys · −0 exits · 0 changed