13F HOLDINGS REPORT
SANDS CAPITAL MANAGEMENT, LLC
Quarter ended Q3 2025 · Filed November 13, 2025 · Accession 0001020066-25-000038
Total Value
$36.25B
Positions
64
Other Managers
0
Confidential Omitted
No
Holdings (64)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | NVIDIA CORPORATION | NVDA | 20,828,827 | $3.89B | 10.72% |
| 2 | TAIWAN SEMICONDUCTOR MFG LTD | 874039100 | 9,251,889 | $2.58B | 7.13% |
| 3 | AMAZON COM INC | AMZN | 8,413,999 | $1.85B | 5.10% |
| 4 | MICROSOFT CORP | MSFT | 2,865,638 | $1.48B | 4.09% |
| 5 | VISA INC | V | 4,027,033 | $1.37B | 3.79% |
| 6 | NETFLIX INC | NFLX | 1,120,658 | $1.34B | 3.71% |
| 7 | MERCADOLIBRE INC | MELI | 509,845 | $1.19B | 3.29% |
| 8 | ALPHABET INC | GOOG | 4,771,097 | $1.16B | 3.20% |
| 9 | SERVICENOW INC | NOW | 1,246,277 | $1.15B | 3.16% |
| 10 | DOORDASH INC | DASH | 4,023,291 | $1.09B | 3.02% |
| 11 | SPOTIFY TECHNOLOGY S A | SPOT | 1,547,640 | $1.08B | 2.98% |
| 12 | AXON ENTERPRISE INC | AXON | 1,442,341 | $1.04B | 2.86% |
| 13 | SHOPIFY INC | SHOP | 6,937,271 | $1.03B | 2.84% |
| 14 | META PLATFORMS INC | META | 1,388,064 | $1.02B | 2.81% |
| 15 | INTERCONTINENTAL EXCHANGE IN | 45866F104 | 5,677,266 | $956.5M | 2.64% |
| 16 | SEA LTD | SE | 4,883,167 | $872.8M | 2.41% |
| 17 | BLOCK INC | BSQKZ | 11,603,057 | $838.6M | 2.31% |
| 18 | CLOUDFLARE INC | NET | 3,808,319 | $817.2M | 2.25% |
| 19 | NU HLDGS LTD | NU | 50,562,162 | $809.5M | 2.23% |
| 20 | SAMSARA INC | IOT | 20,518,332 | $764.3M | 2.11% |
| 21 | APPLOVIN CORP | APP | 1,016,959 | $730.7M | 2.02% |
| 22 | BROADCOM INC | AVGO | 2,060,624 | $679.8M | 1.88% |
| 23 | CARVANA CO | CVNA | 1,691,515 | $638.1M | 1.76% |
| 24 | INTUITIVE SURGICAL INC | ISRG | 1,341,109 | $599.8M | 1.65% |
| 25 | FLUTTER ENTMT PLC | G3643J108 | 2,126,306 | $540.1M | 1.49% |
| 26 | ASML HOLDING N V | ASMLF | 529,164 | $512.3M | 1.41% |
| 27 | ROBLOX CORP | RBLX | 3,476,488 | $481.6M | 1.33% |
| 28 | ATLASSIAN CORPORATION | TEAM | 2,641,730 | $421.9M | 1.16% |
| 29 | IRHYTHM TECHNOLOGIES INC | IRTC | 2,236,110 | $384.6M | 1.06% |
| 30 | COUPANG INC | CPNG | 11,024,177 | $355.0M | 0.98% |
| 31 | GALLAGHER ARTHUR J & CO | 363576109 | 1,094,070 | $338.9M | 0.93% |
| 32 | DEXCOM INC | DXCM | 4,934,189 | $332.0M | 0.92% |
| 33 | BUILDERS FIRSTSOURCE INC | BLDR | 2,430,902 | $294.7M | 0.81% |
| 34 | ON HLDG AG | H5919C104 | 6,769,430 | $286.7M | 0.79% |
| 35 | CARLISLE COS INC | 142339100 | 849,501 | $279.5M | 0.77% |
| 36 | DATADOG INC | DDOG | 1,894,680 | $269.8M | 0.74% |
| 37 | ORACLE CORP | ORCL-PD | 936,043 | $263.3M | 0.73% |
| 38 | TETRA TECH INC NEW | TTEK | 7,179,032 | $239.6M | 0.66% |
| 39 | HDFC BANK LTD | HDB | 6,190,788 | $211.5M | 0.58% |
| 40 | LIBERTY MEDIA CORP DEL | FWONB | 2,014,627 | $210.4M | 0.58% |
| 41 | WASTE CONNECTIONS INC | WCN | 1,183,194 | $208.0M | 0.57% |
| 42 | ROPER TECHNOLOGIES INC | ROP | 351,775 | $175.4M | 0.48% |
| 43 | KASPI KZ JSC | 48581R205 | 1,644,240 | $134.3M | 0.37% |
| 44 | TRANSDIGM GROUP INC | TDG | 93,296 | $123.0M | 0.34% |
| 45 | FERRARI N V | RACE | 251,698 | $122.1M | 0.34% |
| 46 | MCKESSON CORP | MCK | 157,146 | $121.4M | 0.33% |
| 47 | SAP SE | SAPGF | 440,270 | $117.6M | 0.32% |
| 48 | CADENCE DESIGN SYSTEM INC | CDNS | 331,887 | $116.6M | 0.32% |
| 49 | ULTRAGENYX PHARMACEUTICAL IN | RARE | 3,769,853 | $113.4M | 0.31% |
| 50 | VENTURE GLOBAL INC | VG | 7,484,070 | $106.2M | 0.29% |
| 51 | AMPHENOL CORP NEW | 032095101 | 795,234 | $98.4M | 0.27% |
| 52 | FULL TRUCK ALLIANCE CO LTD | YMM | 6,766,855 | $87.8M | 0.24% |
| 53 | GRAB HOLDINGS LIMITED | GRABW | 12,490,985 | $75.2M | 0.21% |
| 54 | GLOBANT S A | GLOB | 848,262 | $48.7M | 0.13% |
| 55 | LINDE PLC | LIN | 84,367 | $40.1M | 0.11% |
| 56 | PALO ALTO NETWORKS INC | PANW | 194,619 | $39.6M | 0.11% |
| 57 | KLAVIYO INC | KVYO | 1,105,559 | $30.6M | 0.08% |
| 58 | MONDAY COM LTD | MNDY | 116,213 | $22.5M | 0.06% |
| 59 | DUOLINGO INC | DUOL | 47,672 | $15.3M | 0.04% |
| 60 | ARGENX SE | ARGX | 16,625 | $12.3M | 0.03% |
| 61 | STEVANATO GROUP S P A | STVN | 464,931 | $12.0M | 0.03% |
| 62 | FIGMA INC | FIG | 226,752 | $11.8M | 0.03% |
| 63 | GITLAB INC | GTLB | 127,475 | $5.7M | 0.02% |
| 64 | SNOWFLAKE INC | SNOW | 11,960 | $2.7M | 0.01% |