13F HOLDINGS REPORT
SANDS CAPITAL MANAGEMENT, LLC
Quarter ended Q2 2025 · Filed August 13, 2025 · Accession 0001020066-25-000028
Total Value
$34.83B
Positions
66
Other Managers
0
Confidential Omitted
No
Holdings (66)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | NVIDIA CORPORATION | NVDA | 21,557,208 | $3.41B | 9.78% |
| 2 | AMAZON COM INC | AMZN | 9,230,023 | $2.02B | 5.81% |
| 3 | TAIWAN SEMICONDUCTOR MFG LTD | 874039100 | 8,552,278 | $1.94B | 5.56% |
| 4 | NETFLIX INC | NFLX | 1,131,679 | $1.52B | 4.35% |
| 5 | MICROSOFT CORP | MSFT | 2,954,745 | $1.47B | 4.22% |
| 6 | SERVICENOW INC | NOW | 1,408,333 | $1.45B | 4.16% |
| 7 | VISA INC | V | 4,030,104 | $1.43B | 4.11% |
| 8 | MERCADOLIBRE INC | MELI | 513,532 | $1.34B | 3.85% |
| 9 | AXON ENTERPRISE INC | AXON | 1,611,295 | $1.33B | 3.83% |
| 10 | DOORDASH INC | DASH | 4,792,181 | $1.18B | 3.39% |
| 11 | SPOTIFY TECHNOLOGY S A | SPOT | 1,354,803 | $1.04B | 2.98% |
| 12 | INTERCONTINENTAL EXCHANGE IN | 45866F104 | 5,313,039 | $974.8M | 2.80% |
| 13 | CLOUDFLARE INC | NET | 4,928,874 | $965.2M | 2.77% |
| 14 | META PLATFORMS INC | META | 1,306,041 | $964.0M | 2.77% |
| 15 | SEA LTD | SE | 5,678,005 | $908.1M | 2.61% |
| 16 | DEXCOM INC | DXCM | 9,947,944 | $868.4M | 2.49% |
| 17 | SHOPIFY INC | SHOP | 7,492,615 | $864.3M | 2.48% |
| 18 | SAMSARA INC | IOT | 19,276,210 | $766.8M | 2.20% |
| 19 | NU HLDGS LTD | NU | 54,504,428 | $747.8M | 2.15% |
| 20 | BLOCK INC | BSQKZ | 10,340,740 | $702.4M | 2.02% |
| 21 | FLUTTER ENTMT PLC | G3643J108 | 2,121,637 | $606.3M | 1.74% |
| 22 | ALPHABET INC | GOOG | 3,085,879 | $543.8M | 1.56% |
| 23 | ATLASSIAN CORPORATION | TEAM | 2,588,723 | $525.7M | 1.51% |
| 24 | BROADCOM INC | AVGO | 1,843,327 | $508.1M | 1.46% |
| 25 | IRHYTHM TECHNOLOGIES INC | IRTC | 2,915,527 | $448.9M | 1.29% |
| 26 | ASML HOLDING N V | ASMLF | 530,562 | $425.2M | 1.22% |
| 27 | INTUITIVE SURGICAL INC | ISRG | 757,570 | $411.7M | 1.18% |
| 28 | ROBLOX CORP | RBLX | 3,586,543 | $377.3M | 1.08% |
| 29 | DATADOG INC | DDOG | 2,772,015 | $372.4M | 1.07% |
| 30 | COUPANG INC | CPNG | 11,999,721 | $359.5M | 1.03% |
| 31 | GALLAGHER ARTHUR J & CO | 363576109 | 1,121,249 | $358.9M | 1.03% |
| 32 | CARVANA CO | CVNA | 901,227 | $303.7M | 0.87% |
| 33 | APPLOVIN CORP | APP | 817,346 | $286.1M | 0.82% |
| 34 | ON HLDG AG | H5919C104 | 4,614,347 | $240.2M | 0.69% |
| 35 | HDFC BANK LTD | HDB | 2,883,335 | $221.1M | 0.63% |
| 36 | WASTE CONNECTIONS INC | WCN | 1,120,082 | $209.1M | 0.60% |
| 37 | LIBERTY MEDIA CORP DEL | FWONB | 1,911,033 | $199.7M | 0.57% |
| 38 | TETRA TECH INC NEW | TTEK | 5,200,335 | $187.0M | 0.54% |
| 39 | ROPER TECHNOLOGIES INC | ROP | 327,846 | $185.8M | 0.53% |
| 40 | CARLISLE COS INC | 142339100 | 426,360 | $159.2M | 0.46% |
| 41 | REPLIGEN CORP | RGEN | 1,251,088 | $155.6M | 0.45% |
| 42 | ULTRAGENYX PHARMACEUTICAL IN | RARE | 3,943,485 | $143.4M | 0.41% |
| 43 | KASPI KZ JSC | 48581R205 | 1,682,013 | $142.8M | 0.41% |
| 44 | TRANSDIGM GROUP INC | TDG | 86,900 | $132.1M | 0.38% |
| 45 | VENTURE GLOBAL INC | VG | 7,854,539 | $122.4M | 0.35% |
| 46 | FERRARI N V | RACE | 243,717 | $119.6M | 0.34% |
| 47 | BUILDERS FIRSTSOURCE INC | BLDR | 1,016,773 | $118.6M | 0.34% |
| 48 | ALPHABET INC | GOOG | 603,385 | $107.0M | 0.31% |
| 49 | MCKESSON CORP | MCK | 145,867 | $106.9M | 0.31% |
| 50 | CHARTER COMMUNICATIONS INC N | 16119P108 | 242,432 | $99.1M | 0.28% |
| 51 | CADENCE DESIGN SYSTEM INC | CDNS | 308,191 | $95.0M | 0.27% |
| 52 | GRAB HOLDINGS LIMITED | GRABW | 18,757,824 | $94.4M | 0.27% |
| 53 | AMPHENOL CORP NEW | 032095101 | 940,121 | $92.8M | 0.27% |
| 54 | SAP SE | SAPGF | 289,386 | $88.0M | 0.25% |
| 55 | FULL TRUCK ALLIANCE CO LTD | YMM | 6,926,596 | $81.8M | 0.23% |
| 56 | GLOBANT S A | GLOB | 869,376 | $79.0M | 0.23% |
| 57 | LINDE PLC | LIN | 86,662 | $40.7M | 0.12% |
| 58 | KLAVIYO INC | KVYO | 1,109,069 | $37.2M | 0.11% |
| 59 | MONDAY COM LTD | MNDY | 116,591 | $36.7M | 0.11% |
| 60 | PALO ALTO NETWORKS INC | PANW | 154,863 | $31.7M | 0.09% |
| 61 | OKTA INC | OKTA | 300,517 | $30.0M | 0.09% |
| 62 | CROWDSTRIKE HLDGS INC | CRWD | 45,021 | $22.9M | 0.07% |
| 63 | ICON PLC | ICLR | 91,550 | $13.3M | 0.04% |
| 64 | STEVANATO GROUP S P A | STVN | 464,635 | $11.4M | 0.03% |
| 65 | GITLAB INC | GTLB | 127,475 | $5.8M | 0.02% |
| 66 | SNOWFLAKE INC | SNOW | 11,960 | $2.7M | 0.01% |