SANDS CAPITAL MANAGEMENT, LLC

Q3 2025 13F-HR Holdings

Location
Arlington, VA
Holdings as of
9/30/2025
Date filed
11/13/2025
Form type
13F-HR
Num holdings
64
Total value ($000)
$36,248,204
Net value change ($000)
+1,416,896 (4.1%)
New positions
4
Sold out positions
6
Turnover %
2.0%
Sector allocation + QoQ delta (equities-only)
Prev filing: 8/13/2025 Next filing: 2/13/2026 SEC filing

Snapshot: Change Analysis

Compared to Q2 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)
TSM 646,955 33.4%
GOOGL 616,030 113.3%
NVDA 480,420 14.1%
APP 444,590 155.4%
CVNA 334,430 110.1%
ORCL 263,253 NEW
ISRG 188,113 45.7%
BLDR 176,100 148.4%
AVGO 171,707 33.8%
SHOP 166,675 19.3%
Top Reduces (Value $000, Stocks/ETFs)
DXCM -536,334 -61.8%
NOW -300,955 -20.8%
AXON -298,974 -22.4%
AMZN -177,513 -8.8%
NFLX -171,886 -11.3%
RGEN -155,610 -100.0%
MELI -150,706 -11.2%
NET -147,994 -15.3%
GOOGL -107,034 -100.0%
TEAM -103,860 -19.8%
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