Filed: 11/13/2025ACC: 0001020066-25-000038
📋 What this filing means
SANDS CAPITAL MANAGEMENT, LLC filed this quarterly 13F‑HR report disclosing 64 equity positions with a total reported market value of $36.25B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
64
Positions
$36.25B
Total AUM (reported)
266.87M
Total Shares
Allocation by class
COM$16.77B46.3%
CL A$4.95B13.6%
SPONSORED ADS$3.02B8.3%
COM CL A$2.98B8.2%
SHS$1.68B4.6%
CAP STK CL A$1.16B3.2%
CL A COM$1.10B3.0%
Portfolio Concentration
Top 3$8.32B22.9%
4–10$8.80B24.3%
11–25$12.41B34.2%
Rest$6.72B18.5%
Top 3 weight
22.9%
Top 10 weight
47.2%
Voting Authority Distribution
Total shares with voting rights: 266.87M
Sole
Full voting authority
191.95M
shares
% of voting shares71.9%
Shared
Joint voting authority
0.00
shares
% of voting shares0.0%
None
No voting authority
74.92M
shares
% of voting shares28.1%
Investment Discretion (by position count)
Sole64
Shared0
Other0
Dominant voting typeSole · 71.9% of voting shares
Institutional Holdings64
Rows:
NVIDIA CORPORATION
SOLEShares20.83M
TypeSH
Market value$3.89B
10.72%
Sole
14.88M
Shared
0.00
None
5.95M
TAIWAN SEMICONDUCTOR MFG LTD
SOLEShares9.25M
TypeSH
Market value$2.58B
7.13%
Sole
6.73M
Shared
0.00
None
2.52M
AMAZON COM INC
SOLEShares8.41M
TypeSH
Market value$1.85B
5.10%
Sole
5.80M
Shared
0.00
None
2.61M
MICROSOFT CORP
SOLEShares2.87M
TypeSH
Market value$1.48B
4.09%
Sole
2.15M
Shared
0.00
None
718.15K
VISA INC
SOLEShares4.03M
TypeSH
Market value$1.37B
3.79%
Sole
2.96M
Shared
0.00
None
1.07M
NETFLIX INC
SOLEShares1.12M
TypeSH
Market value$1.34B
3.71%
Sole
776.03K
Shared
0.00
None
344.63K
MERCADOLIBRE INC
SOLEShares509.85K
TypeSH
Market value$1.19B
3.29%
Sole
364.96K
Shared
0.00
None
144.88K
ALPHABET INC
SOLEShares4.77M
TypeSH
Market value$1.16B
3.20%
Sole
3.16M
Shared
0.00
None
1.61M
SERVICENOW INC
SOLEShares1.25M
TypeSH
Market value$1.15B
3.16%
Sole
917.76K
Shared
0.00
None
328.52K
DOORDASH INC
SOLEShares4.02M
TypeSH
Market value$1.09B
3.02%
Sole
2.81M
Shared
0.00
None
1.22M
SPOTIFY TECHNOLOGY S A
SOLEShares1.55M
TypeSH
Market value$1.08B
2.98%
Sole
1.07M
Shared
0.00
None
480.88K
AXON ENTERPRISE INC
SOLEShares1.44M
TypeSH
Market value$1.04B
2.86%
Sole
1.05M
Shared
0.00
None
395.35K
SHOPIFY INC
SOLEShares6.94M
TypeSH
Market value$1.03B
2.84%
Sole
4.84M
Shared
0.00
None
2.10M
META PLATFORMS INC
SOLEShares1.39M
TypeSH
Market value$1.02B
2.81%
Sole
983.27K
Shared
0.00
None
404.80K
INTERCONTINENTAL EXCHANGE IN
SOLEShares5.68M
TypeSH
Market value$956.51M
2.64%
Sole
4.02M
Shared
0.00
None
1.65M
SEA LTD
SOLEShares4.88M
TypeSH
Market value$872.77M
2.41%
Sole
3.48M
Shared
0.00
None
1.41M
BLOCK INC
SOLEShares11.60M
TypeSH
Market value$838.55M
2.31%
Sole
7.95M
Shared
0.00
None
3.65M
CLOUDFLARE INC
SOLEShares3.81M
TypeSH
Market value$817.23M
2.25%
Sole
2.78M
Shared
0.00
None
1.03M
NU HLDGS LTD
SOLEShares50.56M
TypeSH
Market value$809.50M
2.23%
Sole
36.06M
Shared
0.00
None
14.50M
SAMSARA INC
SOLEShares20.52M
TypeSH
Market value$764.31M
2.11%
Sole
14.22M
Shared
0.00
None
6.30M
APPLOVIN CORP
SOLEShares1.02M
TypeSH
Market value$730.73M
2.02%
Sole
732.51K
Shared
0.00
None
284.44K
BROADCOM INC
SOLEShares2.06M
TypeSH
Market value$679.82M
1.88%
Sole
1.38M
Shared
0.00
None
680.56K
CARVANA CO
SOLEShares1.69M
TypeSH
Market value$638.11M
1.76%
Sole
1.17M
Shared
0.00
None
519.18K
INTUITIVE SURGICAL INC
SOLEShares1.34M
TypeSH
Market value$599.78M
1.65%
Sole
992.23K
Shared
0.00
None
348.88K
FLUTTER ENTMT PLC
SOLEShares2.13M
TypeSH
Market value$540.08M
1.49%
Sole
1.42M
Shared
0.00
None
710.45K
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
NVIDIA CORPORATIONSOLE | COM | 20.83M | SH | $3.89B 10.72% | 14.88M | 0.00 | 5.95M |
TAIWAN SEMICONDUCTOR MFG LTDSOLE | SPONSORED ADS | 9.25M | SH | $2.58B 7.13% | 6.73M | 0.00 | 2.52M |
AMAZON COM INCSOLE | COM | 8.41M | SH | $1.85B 5.10% | 5.80M | 0.00 | 2.61M |
MICROSOFT CORPSOLE | COM | 2.87M | SH | $1.48B 4.09% | 2.15M | 0.00 | 718.15K |
VISA INCSOLE | COM CL A | 4.03M | SH | $1.37B 3.79% | 2.96M | 0.00 | 1.07M |
NETFLIX INCSOLE | COM | 1.12M | SH | $1.34B 3.71% | 776.03K | 0.00 | 344.63K |
MERCADOLIBRE INCSOLE | COM | 509.85K | SH | $1.19B 3.29% | 364.96K | 0.00 | 144.88K |
ALPHABET INCSOLE | CAP STK CL A | 4.77M | SH | $1.16B 3.20% | 3.16M | 0.00 | 1.61M |
SERVICENOW INCSOLE | COM | 1.25M | SH | $1.15B 3.16% | 917.76K | 0.00 | 328.52K |
DOORDASH INCSOLE | CL A | 4.02M | SH | $1.09B 3.02% | 2.81M | 0.00 | 1.22M |
SPOTIFY TECHNOLOGY S ASOLE | SHS | 1.55M | SH | $1.08B 2.98% | 1.07M | 0.00 | 480.88K |
AXON ENTERPRISE INCSOLE | COM | 1.44M | SH | $1.04B 2.86% | 1.05M | 0.00 | 395.35K |
SHOPIFY INCSOLE | CL A SUB VTG SHS | 6.94M | SH | $1.03B 2.84% | 4.84M | 0.00 | 2.10M |
META PLATFORMS INCSOLE | CL A | 1.39M | SH | $1.02B 2.81% | 983.27K | 0.00 | 404.80K |
INTERCONTINENTAL EXCHANGE INSOLE | COM | 5.68M | SH | $956.51M 2.64% | 4.02M | 0.00 | 1.65M |
SEA LTDSOLE | SPONSORD ADS | 4.88M | SH | $872.77M 2.41% | 3.48M | 0.00 | 1.41M |
BLOCK INCSOLE | CL A | 11.60M | SH | $838.55M 2.31% | 7.95M | 0.00 | 3.65M |
CLOUDFLARE INCSOLE | CL A COM | 3.81M | SH | $817.23M 2.25% | 2.78M | 0.00 | 1.03M |
NU HLDGS LTDSOLE | ORD SHS CL A | 50.56M | SH | $809.50M 2.23% | 36.06M | 0.00 | 14.50M |
SAMSARA INCSOLE | COM CL A | 20.52M | SH | $764.31M 2.11% | 14.22M | 0.00 | 6.30M |
APPLOVIN CORPSOLE | COM CL A | 1.02M | SH | $730.73M 2.02% | 732.51K | 0.00 | 284.44K |
BROADCOM INCSOLE | COM | 2.06M | SH | $679.82M 1.88% | 1.38M | 0.00 | 680.56K |
CARVANA COSOLE | CL A | 1.69M | SH | $638.11M 1.76% | 1.17M | 0.00 | 519.18K |
INTUITIVE SURGICAL INCSOLE | COM NEW | 1.34M | SH | $599.78M 1.65% | 992.23K | 0.00 | 348.88K |
FLUTTER ENTMT PLCSOLE | SHS | 2.13M | SH | $540.08M 1.49% | 1.42M | 0.00 | 710.45K |
Page 1 of 3