13F HOLDINGS REPORT
SANDS CAPITAL MANAGEMENT, LLC
Quarter ended Q4 2025 · Filed February 13, 2026 · Accession 0001020066-26-000005
Total Value
$32.88B
Positions
66
Other Managers
0
Confidential Omitted
No
Holdings (66)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | NVIDIA CORPORATION | NVDA | 20,043,571 | $3.74B | 11.37% |
| 2 | TAIWAN SEMICONDUCTOR MFG LTD | 874039100 | 6,826,175 | $2.07B | 6.31% |
| 3 | AMAZON COM INC | AMZN | 7,440,012 | $1.72B | 5.22% |
| 4 | ALPHABET INC | GOOG | 4,939,049 | $1.55B | 4.70% |
| 5 | SHOPIFY INC | SHOP | 9,506,036 | $1.53B | 4.65% |
| 6 | MICROSOFT CORP | MSFT | 2,470,769 | $1.19B | 3.63% |
| 7 | VISA INC | V | 3,090,129 | $1.08B | 3.30% |
| 8 | CARVANA CO | CVNA | 2,442,534 | $1.03B | 3.14% |
| 9 | MERCADOLIBRE INC | MELI | 509,645 | $1.03B | 3.12% |
| 10 | DOORDASH INC | DASH | 4,496,607 | $1.02B | 3.10% |
| 11 | APPLOVIN CORP | APP | 1,463,351 | $986.0M | 3.00% |
| 12 | NETFLIX INC | NFLX | 10,023,088 | $939.8M | 2.86% |
| 13 | AXON ENTERPRISE INC | AXON | 1,609,436 | $914.0M | 2.78% |
| 14 | INTERCONTINENTAL EXCHANGE IN | 45866F104 | 5,502,896 | $891.2M | 2.71% |
| 15 | SPOTIFY TECHNOLOGY S A | SPOT | 1,469,848 | $853.6M | 2.60% |
| 16 | META PLATFORMS INC | META | 1,254,871 | $828.3M | 2.52% |
| 17 | INTUITIVE SURGICAL INC | ISRG | 1,376,958 | $779.9M | 2.37% |
| 18 | NU HLDGS LTD | NU | 44,423,895 | $743.7M | 2.26% |
| 19 | CLOUDFLARE INC | NET | 3,731,287 | $735.6M | 2.24% |
| 20 | BROADCOM INC | AVGO | 2,114,521 | $731.8M | 2.23% |
| 21 | ASML HOLDING N V | ASMLF | 669,985 | $716.8M | 2.18% |
| 22 | SEA LTD | SE | 5,501,013 | $701.8M | 2.13% |
| 23 | SAMSARA INC | IOT | 19,123,318 | $677.9M | 2.06% |
| 24 | SERVICENOW INC | NOW | 3,842,914 | $588.7M | 1.79% |
| 25 | FLUTTER ENTMT PLC | G3643J108 | 2,087,048 | $448.8M | 1.37% |
| 26 | BLOCK INC | BSQKZ | 5,929,883 | $386.0M | 1.17% |
| 27 | CARLISLE COS INC | 142339100 | 967,640 | $309.5M | 0.94% |
| 28 | ON HLDG AG | H5919C104 | 6,635,050 | $308.4M | 0.94% |
| 29 | IRHYTHM TECHNOLOGIES INC | IRTC | 1,699,645 | $301.6M | 0.92% |
| 30 | ARGENX SE | ARGX | 356,870 | $300.1M | 0.91% |
| 31 | BUILDERS FIRSTSOURCE INC | BLDR | 2,757,969 | $283.8M | 0.86% |
| 32 | ROBLOX CORP | RBLX | 3,183,399 | $258.0M | 0.78% |
| 33 | QUANTA SVCS INC | 74762E102 | 576,896 | $243.5M | 0.74% |
| 34 | COUPANG INC | CPNG | 10,319,665 | $243.4M | 0.74% |
| 35 | TETRA TECH INC NEW | TTEK | 7,007,004 | $235.0M | 0.71% |
| 36 | HDFC BANK LTD | HDB | 6,117,362 | $223.5M | 0.68% |
| 37 | DATADOG INC | DDOG | 1,513,800 | $205.9M | 0.63% |
| 38 | LIBERTY MEDIA CORP DEL | FWONB | 2,082,513 | $205.1M | 0.62% |
| 39 | CARPENTER TECHNOLOGY CORP | CRS | 621,684 | $195.7M | 0.60% |
| 40 | WASTE CONNECTIONS INC | WCN | 965,880 | $169.4M | 0.52% |
| 41 | KASPI KZ JSC | 48581R205 | 1,948,761 | $152.3M | 0.46% |
| 42 | MCKESSON CORP | MCK | 174,268 | $143.0M | 0.43% |
| 43 | TRANSDIGM GROUP INC | TDG | 103,179 | $137.2M | 0.42% |
| 44 | ROPER TECHNOLOGIES INC | ROP | 287,318 | $127.9M | 0.39% |
| 45 | AMPHENOL CORP NEW | 032095101 | 879,004 | $118.8M | 0.36% |
| 46 | FERRARI N V | RACE | 309,983 | $114.6M | 0.35% |
| 47 | SAP SE | SAPGF | 394,117 | $95.7M | 0.29% |
| 48 | ULTRAGENYX PHARMACEUTICAL IN | RARE | 3,485,724 | $80.2M | 0.24% |
| 49 | CADENCE DESIGN SYSTEM INC | CDNS | 252,008 | $78.8M | 0.24% |
| 50 | BOSTON SCIENTIFIC CORP | BSX | 805,164 | $76.8M | 0.23% |
| 51 | FULL TRUCK ALLIANCE CO LTD | YMM | 6,123,768 | $65.7M | 0.20% |
| 52 | GALLAGHER ARTHUR J & CO | 363576109 | 244,255 | $63.2M | 0.19% |
| 53 | GRAB HOLDINGS LIMITED | GRABW | 11,244,055 | $56.1M | 0.17% |
| 54 | GLOBANT S A | GLOB | 770,560 | $50.4M | 0.15% |
| 55 | KLAVIYO INC | KVYO | 928,755 | $30.2M | 0.09% |
| 56 | PALO ALTO NETWORKS INC | PANW | 162,963 | $30.0M | 0.09% |
| 57 | LINDE PLC | LIN | 59,214 | $25.2M | 0.08% |
| 58 | ATLASSIAN CORPORATION | TEAM | 136,534 | $22.1M | 0.07% |
| 59 | STEVANATO GROUP S P A | STVN | 493,006 | $9.9M | 0.03% |
| 60 | FIGMA INC | FIG | 189,782 | $7.1M | 0.02% |
| 61 | DUOLINGO INC | DUOL | 39,975 | $7.0M | 0.02% |
| 62 | GITLAB INC | GTLB | 127,475 | $4.8M | 0.01% |
| 63 | ISHARES TR | 464287614 | 8,215 | $3.9M | 0.01% |
| 64 | PALANTIR TECHNOLOGIES INC | PLTR | 19,840 | $3.5M | 0.01% |
| 65 | SNOWFLAKE INC | SNOW | 11,960 | $2.6M | 0.01% |
| 66 | ALIBABA GROUP HLDG LTD | BBAAY | 7,511 | $1.1M | 0.00% |