SANDS CAPITAL MANAGEMENT, LLC

Q2 2025 13F-HR Holdings

Location
Arlington, VA
Holdings as of
6/30/2025
Date filed
8/13/2025
Form type
13F-HR
Num holdings
66
Total value ($000)
$34,831,308
Net value change ($000)
+5,436,521 (18.5%)
New positions
3
Sold out positions
12
Turnover %
4.2%
Sector allocation + QoQ delta (equities-only)
Prev filing: 5/14/2025 Next filing: 11/13/2025 SEC filing

Snapshot: Change Analysis

Compared to Q1 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
NVDA 1,246,223 57.7%
TSM 604,470 45.4%
ICE 510,287 109.9%
MSFT 475,594 47.8%
AXON 334,845 33.5%
CVNA 290,896 2276.0%
AJG 288,978 413.1%
NOW 287,124 24.7%
AVGO 270,217 113.6%
NET 240,912 33.3%
Top Reduces (Value $000, Stocks/ETFs)
TEAM -305,820 -36.8%
SHOP -295,410 -25.5%
UBER -285,117 -100.0%
APP -259,223 -47.5%
NKE -238,341 -100.0%
HTHT -132,758 -100.0%
ABNB -113,584 -100.0%
UNH -91,545 -100.0%
AMZN -85,873 -4.1%
SNOW -84,500 -96.9%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type