WhaleCreep

Sands Capital 13F holdings, Q4 2018

Long-only investorSEC filingsCompare with another fundHoldings as of 2018-12-31, filed 2019-02-14

Sands Capital disclosed 71 US equity positions worth $28.0bn in its Q4 2018 13F filing. Its largest position is V at 7.8% of the reported book, followed by AMZN and BABA. Versus Q3 2018 it opened 7 new positions, added to 21, reduced 33 and exited 4.

$28.0bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
71
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
7.8%
Largest position
The largest single position as a share of the reported equity book.
52.5%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
26
Effective positions
1 / HHI of portfolio weights: the number of equal-weight positions the book behaves like.
106
Quarters on file since Q1 1999
Quarters for which this manager's 13F holdings are on record.

Holdings

Against Q3 2018: 7 new, 21 added, 33 reduced, 4 exited

50 of 71
V VISA INCFinancial Services7.8%$2.2bn16.51m−5.1%reduced
AMZN AMAZON COM INCConsumer Cyclical7.4%$2.1bn1.38m−5.0%reduced
BABA ALIBABA GROUP HLDG LTDConsumer Cyclical7.3%$2.1bn14.99m−2.3%reduced
NFLX NETFLIX INC.Communication Services5.1%$1.4bn5.35m+1.6%added
GOOGL ALPHABET INCCommunication Services4.5%$1.3bn1.20m−5.4%reduced
EW EDWARDS LIFESCIENCES CORPHealthcare4.3%$1.2bn7.96m−5.0%reduced
NOW SERVICENOW INCTechnology4.3%$1.2bn6.76m+2.5%added
CRM SALESFORCE INCTechnology4.1%$1.2bn8.45m−3.7%reduced
ILMN ILLUMINA INCHealthcare4.1%$1.1bn3.82m−4.7%reduced
WDAY WORKDAY INCTechnology3.6%$998m6.25m−3.8%reduced
ADBE ADOBE INCTechnology3.1%$876m3.87m−7.5%reduced
BKNG BOOKING HOLDINGS INCConsumer Cyclical2.8%$783m454,637−22%reduced
REGN REGENERON PHARMACEUTICALSHealthcare2.8%$777m2.08m−4.4%reduced
META META PLATFORMS INCCommunication Services2.5%$709m5.41m−33%reduced
ALGN ALIGN TECHNOLOGY INCHealthcare2.5%$688m3.29m+16%added
TEAM ATLASSIAN CORP PLCTechnology2.1%$578m6.49m+43%added
NKE NIKE INCConsumer Cyclical2.0%$566m7.63m−3.5%reduced
MNST MONSTER BEVERAGE CORP NEWConsumer Defensive2.0%$547m11.12m−6.0%reduced
CSGP COSTAR GROUP INCReal Estate1.9%$536m1.59m+10%added
BMRN BIOMARIN PHARMACEUTICAL INCHealthcare1.9%$520m6.11m−5.3%reduced
ASML ASML HLDG NVTechnology1.8%$497m3.20m−2.8%reduced
PANW PALO ALTO NETWORKS INCTechnology1.7%$483m2.56m−22%reduced
SCHW SCHWAB CHARLES CORPFinancial Services1.6%$444m10.69m−50%reduced
SPLKCHF SPLUNK INC–1.5%$409m3.90m−23%reduced
SHOP SHOPIFY INCTechnology1.3%$374m2.70m−3.3%reduced
SRPT SAREPTA THERAPEUTICS INCHealthcare1.2%$338m3.09m+63%added
GOOG ALPHABET INCCommunication Services1.2%$334m322,568−4.6%reduced
MTCH MATCH GROUP INCCommunication Services1.2%$330m7.72m–new
SBUX STARBUCKS CORPConsumer Cyclical1.1%$322m5.00m−4.1%reduced
ATVIEUR ACTIVISION BLIZZARD INC–1.0%$283m6.07m−7.1%reduced
INCY INCYTE CORPHealthcare1.0%$278m4.36m−3.6%reduced
ABMDEUR ABIOMED INC–1.0%$277m852,360+92%added
ALXN ALEXION PHARMACEUTICALS INC–1.0%$269m2.77m−6.7%reduced
LKFT LAKEFRONT BIOTHERAPEUTICS NVHealthcare0.9%$266m2.89m−3.5%reduced
LOXO ONCOLOGY INC no ticker–0.9%$241m1.72m−6.6%reduced
FND FLOOR & DECOR HLDGS INCConsumer Cyclical0.8%$231m8.90m+32%added
LVS LAS VEGAS SANDS CORPConsumer Cyclical0.8%$220m4.24m−3.7%reduced
NBIS NEBIUS GROUP N.V.Communication Services0.5%$138m5.04m+17%added
TSM TAIWAN SEMICONDUCTOR MANUFACTechnology0.4%$115m3.11m+12%added
INDA ISHARES TR–0.4%$114m3.43m−11%reduced
CTRPUSD CTRIP COM INTL LTD–0.3%$96.1m3.55m+15%added
MELI MERCADOLIBREConsumer Cyclical0.3%$91.6m312,754+17%added
BIDU BAIDU INCCommunication Services0.3%$78.3m493,786−68%reduced
MAKEMYTRIP LIMITED MAURITIUS no ticker–0.2%$65.6m2.70m+13%added
ASR GRUPO AEROPORTUARIO DEL SUREIndustrials0.2%$55.7m369,890+13%added
HDB HDFC BANK LTDFinancial Services0.2%$47.8m461,137+19%added
PLANUSD ANAPLAN INC–0.2%$42.5m1.60m–new
SE SEA LTDConsumer Cyclical0.1%$35.9m3.17m+14%added
ONC BEIGENE LTDHealthcare0.1%$34.4m245,197+161%added
ZTS ZOETIS INCHealthcare0.08%$23.2m270,867+13%added

Exited since Q3 2018

4 rows
MDSOEUR MEDIDATA SOLUTIONS INC0.4%$157m
DOCU DOCUSIGN INC0.06%$21.4m
AMT AMERICAN TOWER CORP0.02%$5.8m
LCEUR LENDINGCLUB CORP0.0%$273k

Sector mix

  • Consumer Cyclical22.8%
  • Technology22.5%
  • Healthcare19.0%
  • Communication Services15.3%
  • Financial Services9.6%
  • Unclassified6.6%
  • Consumer Defensive2.0%
  • Real Estate1.9%
  • Industrials0.3%

Book over time

Every quarter on file (106)
QuarterPositionsEquity book
Q2 202671$26.9bn
Q1 202667$25.5bn
Q4 202566$32.9bn
Q3 202564$36.2bn
Q2 202566$34.8bn
Q1 202575$29.4bn
Q4 202471$33.8bn
Q3 202467$32.9bn
Q2 202466$34.0bn
Q1 202476$35.8bn
Q4 202374$32.9bn
Q3 202375$29.4bn
Q2 202366$32.2bn
Q1 202366$30.4bn
Q4 202267$26.5bn
Q3 202267$26.6bn
Q2 202269$28.9bn
Q1 202268$43.5bn
Q4 202171$53.9bn
Q3 202171$60.0bn
Q2 202177$59.0bn
Q1 202175$51.7bn
Q4 202076$52.7bn
Q3 202077$46.2bn
Q2 202077$41.3bn
Q1 202076$30.0bn
Q4 201975$34.4bn
Q3 201978$31.1bn
Q2 201979$33.6bn
Q1 201971$32.4bn
Q4 201871$28.0bn
Q3 201868$35.4bn
Q2 201866$34.9bn
Q1 201867$33.8bn
Q4 201768$33.0bn
Q3 201770$33.4bn
Q2 201769$33.3bn
Q1 201767$31.8bn
Q4 201653$28.7bn
Q3 201651$34.0bn
Q2 201652$32.4bn
Q1 201651$33.9bn
Q4 201553$38.8bn
Q3 201553$35.8bn
Q2 201551$40.7bn
Q1 201549$42.0bn
Q4 201454$42.0bn
Q3 201451$40.2bn
Q2 201449$39.7bn
Q1 201444$38.4bn
Q4 201343$38.2bn
Q3 201342$35.8bn
Q2 201339$29.7bn
Q1 201329$24.7bn
Q4 201231$22.5bn
Q3 201233$21.9bn
Q2 201233$19.3bn
Q1 201235$19.4bn
Q4 201148$15.1bn
Q3 201150$13.0bn
Q2 201149$14.9bn
Q1 201152$14.4bn
Q4 201051$14.0bn
Q3 201045$11.9bn
Q2 201045$10.1bn
Q1 201045$11.5bn
Q4 200947$11.8bn
Q3 200945$11.0bn
Q2 200942$9.5bn
Q1 200940$8.1bn
Q4 200836$6.2bn
Q3 200836$9.3bn
Q2 200838$12.6bn
Q1 200838$11.4bn
Q4 200749$15.1bn
Q1 200751$13.6bn
Q2 200635$11.5bn
Q1 200637$12.7bn
Q4 200543$12.8bn
Q3 200543$11.4bn
Q2 200544$9.2bn
Q1 200540$8.2bn
Q4 200444$11.0bn
Q3 200483$8.5bn
Q2 200440$8.3bn
Q1 200445$6.7bn
Q4 200342$5.3bn
Q3 200338$4.1bn
Q2 200341$2.5bn
Q1 200337$2.0bn
Q4 200238$1.8bn
Q3 200240$1.4bn
Q2 200239$1.3bn
Q1 200235$1.4bn
Q4 200139$1.4bn
Q3 200136$1.0bn
Q2 200137$1.3bn
Q1 200135$1.1bn
Q4 200039$878m
Q3 200042$962m
Q2 200033$917m
Q1 200035$919m
Q4 199933$648m
Q3 199929$533m
Q2 199930$440m
Q1 199925$342m

Where Sands Capital was early

67 rows
ADP Auto Data ProcessingQ2 19991 of 1482.2%5.1%14Exited by Q4 2002−21%
PFE PfizerQ2 19991 of 2080.09%7.2%22Exited by Q4 2004−16%
MDT MedtronicQ1 20001 of 1730.04%5.6%20Exited by Q1 2005−3.4%
TXN TEXAS INSTRS INCQ1 200017 of 2020.03%1.6%36Exited by Q1 2025+134%
NOK Nokia Corp SPONQ3 20001 of 1673.9%5.4%10Exited by Q1 2003−62%
EBAY EBAY INCQ4 20002 of 1861.1%12.4%24Exited by Q4 2007+302%
TROW PRICE T ROWE GROUP INCQ1 20011 of 1201.8%1.9%27Exited by Q4 2008+243%
KSS KOHLS CORPQ2 20011 of 1660.3%4.4%19Exited by Q1 2006−23%
COF CAPITAL ONE FINL CORPQ2 20012 of 2270.1%8.7%20Exited by Q2 2006+34%
SBUX STARBUCKS CORPQ3 20011 of 2170.02%7.8%28Exited by Q2 2019+1890%
AMGN AMGEN INCQ3 20012 of 1660.02%5.4%19Exited by Q2 2006+24%
LOW LOWES COS INCQ4 20011 of 2090.1%7.7%21Exited by Q1 2008−2.5%
QCOM QUALCOMM INCQ4 20013 of 2461.8%7.9%40Exited by Q4 2013+167%
SEIC SEI InvestmentQ2 20021 of 881.6%2.0%6Exited by Q4 2003+16%
MCO MOODY'S CORPQ2 20025 of 1761.6%6.3%39Exited by Q3 2020+1004%
SYK STRYKERQ1 20032 of 1501.5%3.8%26Exited by Q3 2010+46%
TEVA TEVA PHARMACEUTICAL INDS LTDQ4 20033 of 1820.01%7.0%13Exited by Q1 2008+64%
ZBH ZIMMER HLDGS INCQ2 20042 of 1440.0%3.5%11Exited by Q1 2008−25%
GWW WW GRAINGER INCQ3 20042 of 1200.01%3.2%12Exited by Q4 2012+261%
AMZN AMAZON COM INCQ3 20044 of 3780.01%10.3%69Held at last filing, Q2 2026+11566%
AAPL APPLE INCQ1 20056 of 2750.0%11.0%36Held at last filing, Q2 2026+19343%
EXPD EXPEDITORS INTL WASH INCQ1 20063 of 1200.0%3.4%6Exited by Q4 2008−19%
ADBE ADOBE INCQ1 200616 of 2750.0%3.3%38Exited by Q2 2024+1344%
SLB SCHLUMBERGER LTDQ2 20063 of 2114.4%9.0%40Exited by Q2 2017+20%
V VISA INCQ2 20087 of 2846.0%9.8%73Held at last filing, Q2 2026+1588%
FLIR FLIR SYSTEMS INCQ3 20093 of 801.7%1.8%11Exited by Q2 2012−9.5%
ILMN ILLUMINA INCQ3 20093 of 2150.7%4.8%39Exited by Q2 2024+223%
SCHW SCHWAB CHARLES CORPQ3 20095 of 2211.1%4.2%39Exited by Q3 2020+76%
EW EDWARDS LIFESCIENCES CORPQ3 20096 of 1490.02%5.2%49Exited by Q2 2025+1144%
TSM TAIWAN SEMICONDUCTOR MANUFACQ4 200930 of 3290.01%7.8%50Held at last filing, Q2 2026+4075%
1885807D ATHENAHEALTH INCQ1 20103 of 810.0%1.8%31Exited by Q4 2017+665%
ALXN ALEXION PHARMACEUTICALS INCQ2 20103 of 1470.0%5.0%35Exited by Q1 2019+154%
FFIV F5 NETWORKS INCQ3 20102 of 1411.4%3.7%14Exited by Q1 2014−12%
PXGBX PRAXAIR INCQ3 20105 of 682.3%3.6%12Exited by Q3 2013+28%
INCY INCYTE CORPQ4 20104 of 1560.01%3.0%20Exited by Q4 2019+348%
NFLX NETFLIX INC.Q4 20105 of 3011.8%6.9%50Held at last filing, Q2 2026+2745%
BIIB BIOGEN INCQ3 20118 of 1830.01%5.0%22Exited by Q1 2018+242%
BIDU BAIDU INCQ1 201215 of 2310.05%6.1%34Exited by Q4 2020−13%
META META PLATFORMS INCQ2 20122 of 3841.9%8.1%55Held at last filing, Q2 2026+1711%
ASML ASML HLDG NVQ4 20122 of 2344.2%5.9%55Held at last filing, Q2 2026+2990%
CMG CHIPOTLE MEXICAN GRILL INCQ4 20128 of 1853.0%3.7%21Exited by Q1 2018−2.8%
REGN REGENERON PHARMACEUTICALSQ2 20131 of 1712.4%5.4%30Exited by Q4 2020+149%
ULTA ULTA SALON COSMETCS AND FRAG IQ2 20133 of 1782.4%2.5%4Exited by Q2 2014−2.7%
ISRG INTUITIVE SURGICAL INCQ2 20135 of 1892.1%2.5%11Held at last filing, Q2 2026+607%
WDAY WORKDAY INCQ1 201411 of 2630.8%3.6%31Exited by Q4 2021+173%
BABA ALIBABA GROUP HLDG LTDQ3 201417 of 3771.5%8.2%33Held at last filing, Q2 2026+8.0%
CSGP COSTAR GROUP INCQ4 20145 of 1890.01%2.9%39Exited by Q3 2024+304%
PANW PALO ALTO NETWORKS INCQ2 201513 of 2421.0%2.1%23Held at last filing, Q2 2026+1071%
UAA UNDER ARMOUR INCQ3 20154 of 1400.3%2.2%9Exited by Q4 2017−66%
NOW SERVICENOW INCQ2 201611 of 2880.02%5.0%40Exited by Q2 2026+687%

Concentration and tenure

8.6%
Median largest position, all quarters
The largest single position as a share of the reported equity book.
55.5%
Median top 10 weight, all quarters
The ten largest positions together, as a share of the reported equity book.
Concentrated
Style, by median largest position
5
Median completed holding, quarters