Sands Capital Management 13F holdings, Q1 2025
Holdings as of March 31, 2025 · filings on SEC EDGAR · latest filing →
Sands Capital Management disclosed 75 US equity positions worth $29.4bn in its Q1 2025 13F filing. The largest position was NVDA at 7.3% of the reported book, followed by AMZN and NFLX. Against the Q4 2024 filing, it opened 3 new positions, added to 8 and reduced 37 among the top 50 holdings.
What did Sands Capital Management own in Q1 2025? Top 50 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q4 2024 |
|---|---|---|---|---|---|---|---|
| 1 | NVDA NVIDIA CORPORATION | Technology | 7.3% | $2.2bn | 19,926,183 | -10% | reduced |
| 2 | AMZN AMAZON COM INC | Consumer Cyclical | 7.2% | $2.1bn | 11,094,543 | -6% | reduced |
| 3 | NFLX NETFLIX INC | Communication Services | 4.7% | $1.4bn | 1,467,474 | -1% | reduced |
| 4 | V VISA INC | Financial Services | 4.5% | $1.3bn | 3,813,042 | -16% | reduced |
| 5 | TSM TAIWAN SEMICONDUCTOR MFG LTD | Technology | 4.5% | $1.3bn | 8,027,318 | 82% | added |
| 6 | MELI MERCADOLIBRE INC | Consumer Cyclical | 4.1% | $1.2bn | 611,999 | -8% | reduced |
| 7 | NOW SERVICENOW INC | Technology | 3.9% | $1.2bn | 1,457,978 | 0% | held |
| 8 | SHOP SHOPIFY INC | Technology | 3.9% | $1.2bn | 12,145,821 | -12% | reduced |
| 9 | DASH DOORDASH INC | Consumer Cyclical | 3.4% | $1.0bn | 5,507,021 | -7% | reduced |
| 10 | AXON AXON ENTERPRISE INC | Industrials | 3.4% | $999.2m | 1,899,822 | -4% | reduced |
| 11 | MSFT MICROSOFT CORP | Technology | 3.4% | $994.1m | 2,648,248 | -6% | reduced |
| 12 | SPOT SPOTIFY TECHNOLOGY S A | Communication Services | 3.3% | $983.8m | 1,788,550 | -4% | reduced |
| 13 | SE SEA LTD | Consumer Cyclical | 3.0% | $889.7m | 6,817,994 | -8% | reduced |
| 14 | META META PLATFORMS INC | Communication Services | 3.0% | $869.0m | 1,507,762 | 13% | added |
| 15 | TEAM ATLASSIAN CORPORATION | Technology | 2.8% | $831.6m | 3,918,588 | -13% | reduced |
| 16 | NET CLOUDFLARE INC | Technology | 2.5% | $724.3m | 6,427,446 | -17% | reduced |
| 17 | DXCM DEXCOM INC | Healthcare | 2.4% | $711.2m | 10,414,156 | -6% | reduced |
| 18 | IOT SAMSARA INC | Technology | 2.1% | $630.3m | 16,443,161 | 59% | added |
| 19 | APP APPLOVIN CORP | Communication Services | 1.9% | $545.4m | 2,058,193 | 149% | added |
| 20 | NU NU HLDGS LTD | Financial Services | 1.8% | $526.8m | 51,443,965 | -11% | reduced |
| 21 | GOOGL ALPHABET INC | Communication Services | 1.8% | $518.0m | 3,349,727 | -7% | reduced |
| 22 | FLUTTER ENTMT PLC | 1.7% | $486.4m | 2,195,271 | -5% | reduced | |
| 23 | ICE INTERCONTINENTAL EXCHANGE IN | Financial Services | 1.6% | $464.5m | 2,692,729 | -2% | reduced |
| 24 | XYZ BLOCK INC | Technology | 1.6% | $463.5m | 8,531,831 | -17% | reduced |
| 25 | ASML ASML HOLDING N V | Technology | 1.3% | $369.4m | 557,428 | -69% | reduced |
| 26 | IRTC IRHYTHM TECHNOLOGIES INC | Healthcare | 1.1% | $315.7m | 3,016,207 | -5% | reduced |
| 27 | DDOG DATADOG INC | Technology | 1.0% | $289.2m | 2,915,476 | -17% | reduced |
| 28 | UBER UBER TECHNOLOGIES INC | Technology | 1.0% | $285.1m | 3,913,222 | -3% | reduced |
| 29 | ISRG INTUITIVE SURGICAL INC | Healthcare | 0.9% | $269.5m | 544,076 | – | new |
| 30 | CPNG COUPANG INC | Consumer Cyclical | 0.9% | $264.9m | 12,080,484 | -7% | reduced |
| 31 | NKE NIKE INC | Consumer Cyclical | 0.8% | $238.3m | 3,754,580 | -5% | reduced |
| 32 | AVGO BROADCOM INC | Technology | 0.8% | $237.9m | 1,420,870 | – | new |
| 33 | RBLX ROBLOX CORP | Communication Services | 0.8% | $233.5m | 4,006,330 | -5% | reduced |
| 34 | WCN WASTE CONNECTIONS INC | Industrials | 0.7% | $216.3m | 1,108,404 | 86% | added |
| 35 | HDB HDFC BANK LTD | Financial Services | 0.7% | $193.4m | 2,911,190 | 1% | added |
| 36 | ROP ROPER TECHNOLOGIES INC | Technology | 0.7% | $192.3m | 326,112 | 0% | held |
| 37 | LIBERTY MEDIA CORP DEL | 0.6% | $172.7m | 1,919,229 | -23% | reduced | |
| 38 | RGEN REPLIGEN CORP | Healthcare | 0.6% | $164.7m | 1,294,196 | -5% | reduced |
| 39 | RARE ULTRAGENYX PHARMACEUTICAL IN | Healthcare | 0.5% | $150.8m | 4,163,561 | -3% | reduced |
| 40 | HTHT H WORLD GROUP LTD | Consumer Cyclical | 0.5% | $132.8m | 3,587,089 | 5% | added |
| 41 | BLDR BUILDERS FIRSTSOURCE INC | Industrials | 0.4% | $131.4m | 1,051,544 | – | new |
| 42 | YMM FULL TRUCK ALLIANCE CO LTD | Technology | 0.4% | $130.9m | 10,250,292 | 66% | added |
| 43 | KASPI KX JSC | 0.4% | $121.8m | 1,311,457 | -9% | reduced | |
| 44 | TTEK TETRA TECH INC NEW | Industrials | 0.4% | $120.2m | 4,110,736 | -5% | reduced |
| 45 | TDG TRANSDIGM GROUP INC | Industrials | 0.4% | $118.8m | 85,886 | -1% | reduced |
| 46 | ABNB AIRBNB INC | Consumer Cyclical | 0.4% | $113.6m | 950,809 | -5% | reduced |
| 47 | GLOB GLOBANT S A | Technology | 0.4% | $106.2m | 902,535 | -9% | reduced |
| 48 | RACE FERRARI N V | Consumer Cyclical | 0.4% | $105.3m | 246,069 | -1% | reduced |
| 49 | GOOG ALPHABET INC | Communication Services | 0.3% | $97.5m | 624,184 | -5% | reduced |
| 50 | UNH UNITEDHEALTH GROUP INC | Healthcare | 0.3% | $91.5m | 174,787 | -1% | reduced |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.