Sands Capital Management (Frank M. Sands) latest 13F portfolio: 71 holdings worth $26.9B as of Q2 2026.
Backtested since 2020: mirroring Sands Capital Management's reported 13F equity holdings each quarter would have returned +76.5% versus +195.4%for the S&P 500 (+9.4% annualized). See the Performance tab for the full equity curve.
Investor: Frank M. Sands
Number of Assets: 71
Reporting Period: Q2 - 2026
Holdings at Report: $26,928,187,141
Return $ Since Report: +$151,609,197
Return % Since Report: +0.56%
Company | Position | Activity | Shares | Port. % | Rep. Price | Curr. Price | Rep. Value | Curr. Value | Return Value | Return % |
|---|---|---|---|---|---|---|---|---|---|---|
| Alphabet Inc. (GOOGL) | Equity | -4.51% | 4,893,397 | 6.49% | $357.37 | $354.97 | $1,748,753,286 | $1,737,009,133 | -$11,744,153 | -0.67% |
| BBB Foods Inc. (TBBB) | Equity | +100% | 6,281 | 0.00% | $41.67 | $52.47 | $261,729 | $329,564 | +$67,835 | +25.92% |
| Carvana Co. (CVNA) | Equity | +299.71% | 8,462,945 | 2.07% | $65.82 | $67.18 | $557,031,040 | $568,540,645 | +$11,509,605 | +2.07% |
| Datadog Inc. (DDOG) | Equity | -28.91% | 999,799 | 0.97% | $260.36 | $245.05 | $260,307,668 | $245,000,745 | -$15,306,923 | -5.88% |
| Advanced Micro Devices Inc. (AMD) | Equity | +100% | 672,555 | 1.45% | $580.91 | $615.52 | $390,693,925 | $413,971,054 | +$23,277,129 | +5.96% |
| Amphenol Corp. (APH) | Equity | -5.17% | 763,951 | 0.50% | $176.32 | $80.72 | $134,699,840 | $61,666,125 | -$73,033,715 | -54.22% |
| Arm Holdings PLC (ARM) | Equity | +100% | 642,829 | 0.85% | $354.57 | $322.90 | $227,927,879 | $207,569,484 | -$20,358,395 | -8.93% |
| Carlisle Companies Inc. (CSL) | Equity | -13.02% | 799,872 | 1.08% | $362.75 | $317.85 | $290,153,568 | $254,239,315 | -$35,914,253 | -12.38% |
| Cerebras Systems INC (CBRS) | Equity | +100% | 11,419 | 0.01% | $221.00 | $208.49 | $2,523,599 | $2,380,747 | -$142,852 | -5.66% |
| Amazon.com Inc. (AMZN) | Equity | -27.65% | 4,861,223 | 4.30% | $238.34 | $258.45 | $1,158,623,890 | $1,256,383,084 | +$97,759,194 | +8.44% |
| Carpenter Technology Corp. (CRS) | Equity | -4.51% | 786,150 | 1.80% | $616.84 | $402.90 | $484,928,766 | $316,739,835 | -$168,188,931 | -34.68% |
| Cloudflare Inc. (NET) | Equity | -11.53% | 3,239,504 | 2.95% | $245.28 | $351.67 | $794,585,541 | $1,139,236,372 | +$344,650,831 | +43.37% |
| Aerovironment Inc. (AVAV) | Equity | +1315.28% | 18,993 | 0.01% | $165.07 | $160.90 | $3,135,175 | $3,055,974 | -$79,201 | -2.53% |
| Apple Inc. (AAPL) | Equity | +1316.53% | 45,598 | 0.05% | $289.36 | $338.98 | $13,194,237 | $15,456,810 | +$2,262,573 | +17.15% |
| Argenx Se (ARGX) | Equity | -12.25% | 298,599 | 1.03% | $927.77 | $988.20 | $277,031,194 | $295,075,532 | +$18,044,338 | +6.51% |
| Alibaba Group Holding Limited (BABA) | Equity | -10.82% | 6,950 | 0.00% | $95.98 | $115.75 | $667,061 | $804,463 | +$137,402 | +20.60% |
| Applovin Corp. (APP) | Equity | -14.40% | 831,697 | 1.59% | $515.23 | $330.17 | $428,515,245 | $274,601,398 | -$153,913,847 | -35.92% |
| Axon Enterprise Inc. (AXON) | Equity | -5.35% | 1,480,817 | 3.08% | $560.61 | $452.06 | $830,160,818 | $669,418,133 | -$160,742,685 | -19.36% |
| Block Inc. (XYZ) | Equity | +2.21% | 5,632,505 | 1.59% | $76.00 | $77.91 | $428,070,380 | $438,828,465 | +$10,758,085 | +2.51% |
| Broadcom Inc. (AVGO) | Equity | -19.67% | 1,126,912 | 1.58% | $377.75 | $362.66 | $425,691,008 | $408,685,906 | -$17,005,102 | -3.99% |
| Doordash Inc. (DASH) | Equity | -41.22% | 2,325,795 | 1.59% | $184.53 | $193.83 | $429,178,951 | $450,808,845 | +$21,629,894 | +5.04% |
| Gitlab Inc. (GTLB) | Equity | 0% | 127,475 | 0.01% | $30.53 | $49.79 | $3,891,812 | $6,346,980 | +$2,455,168 | +63.09% |
| HDFC Bank Limited (HDB) | Equity | -4.60% | 865,858 | 0.08% | $25.83 | $23.65 | $22,365,112 | $20,477,542 | -$1,887,570 | -8.44% |
| ASML Holding N.V. (ASML) | Equity | -16.59% | 533,693 | 3.94% | $1,989.44 | $1,711.32 | $1,061,750,202 | $913,319,505 | -$148,430,697 | -13.98% |
| Bloom Energy Corp. (BE) | Equity | +64.50% | 2,926,558 | 3.29% | $302.70 | $272.89 | $885,869,107 | $798,628,413 | -$87,240,694 | -9.85% |
| Builders Firstsource Inc. (BLDR) | Equity | -12.89% | 2,283,236 | 0.76% | $89.48 | $58.52 | $204,303,957 | $133,614,971 | -$70,688,986 | -34.60% |
| Grab Holdings Limited (GRAB) | Equity | +79.62% | 16,385,578 | 0.23% | $3.77 | $2.91 | $61,773,629 | $47,682,032 | -$14,091,597 | -22.81% |
| Mckesson Corp. (MCK) | Equity | -8.82% | 183,535 | 0.51% | $755.60 | $886.47 | $138,679,046 | $162,698,271 | +$24,019,225 | +17.32% |
| Netflix Inc. (NFLX) | Equity | -43.32% | 5,336,614 | 1.42% | $71.40 | $73.36 | $381,034,240 | $391,494,003 | +$10,459,763 | +2.75% |
| Nvidia Corp. (NVDA) | Equity | -22.26% | 14,059,454 | 10.45% | $200.09 | $227.38 | $2,813,156,151 | $3,196,838,651 | +$383,682,500 | +13.64% |
| Palantir Technologies Inc. (PLTR) | Equity | -21.71% | 17,944 | 0.01% | $116.67 | $183.09 | $2,093,526 | $3,285,367 | +$1,191,841 | +56.93% |
| Coupang Inc. (CPNG) | Equity | -17.59% | 7,559,132 | 0.49% | $17.37 | $14.62 | $131,302,123 | $110,514,510 | -$20,787,613 | -15.83% |
| Intuitive Surgical Inc. (ISRG) | Equity | -5.21% | 1,252,424 | 1.85% | $397.68 | $401.65 | $498,063,976 | $503,036,100 | +$4,972,124 | +1.00% |
| Joint Stock Company Kaspi.Kz (KSPI) | Equity | -3.49% | 1,531,017 | 0.49% | $86.64 | $96.45 | $132,647,313 | $147,666,590 | +$15,019,277 | +11.32% |
| Microsoft Corp. (MSFT) | Equity | -14.44% | 1,309,230 | 1.81% | $373.02 | $501.61 | $488,368,975 | $656,722,860 | +$168,353,885 | +34.47% |
| Nu Holdings Ltd. (NU) | Equity | -63.67% | 12,475,806 | 0.62% | $13.36 | $14.06 | $166,676,768 | $175,409,832 | +$8,733,064 | +5.24% |
| On Holding AG (ONON) | Equity | +18.33% | 7,485,043 | 0.98% | $35.42 | $27.32 | $265,120,223 | $204,491,375 | -$60,628,848 | -22.87% |
| Palo Alto Networks Inc. (PANW) | Equity | -80.56% | 31,312 | 0.04% | $341.02 | $371.76 | $10,678,018 | $11,640,549 | +$962,531 | +9.01% |
| Sphere Entertainment Co. (SPHR) | Equity | +100% | 1,358,321 | 0.87% | $173.03 | $145.14 | $235,030,283 | $197,146,710 | -$37,883,573 | -16.12% |
| Stevanato Group S.P.A. (STVN) | Equity | +5.46% | 524,481 | 0.04% | $18.07 | $21.51 | $9,477,372 | $11,281,586 | +$1,804,214 | +19.04% |
| Ultragenyx Pharmaceutical Inc. (RARE) | Equity | -1.75% | 3,158,368 | 0.39% | $33.39 | $14.65 | $105,457,908 | $46,270,091 | -$59,187,817 | -56.12% |
| CrowdStrike Holdings Inc. (CRWD) | Equity | +100% | 10,020 | 0.03% | $763.14 | $249.35 | $7,646,663 | $2,498,487 | -$5,148,176 | -67.33% |
| Ferrari N.V. (RACE) | Equity | -2.64% | 280,101 | 0.39% | $372.29 | $416.13 | $104,278,801 | $116,558,429 | +$12,279,628 | +11.78% |
| Intercontinental Exchange Inc. (ICE) | Equity | -7.49% | 4,055,771 | 1.85% | $123.11 | $155.37 | $499,305,968 | $630,145,140 | +$130,839,172 | +26.20% |
| Ishares Russell 1000 Growth ETF (IWF) | Equity | +100% | 22,200 | 0.01% | $124.17 | $126.25 | $2,756,574 | $2,802,750 | +$46,176 | +1.68% |
| Klaviyo Inc. (KVYO) | Equity | -66.60% | 198,806 | 0.01% | $15.10 | $15.82 | $3,001,971 | $3,145,111 | +$143,140 | +4.77% |
| Micron Technology Inc. (MU) | Equity | +100% | 526,810 | 2.26% | $1,154.29 | $1,043.96 | $608,091,515 | $549,968,568 | -$58,122,947 | -9.56% |
| Eli Lilly And Company (LLY) | Equity | +37.84% | 45,332 | 0.20% | $1,199.43 | $1,164.89 | $54,372,561 | $52,806,793 | -$1,565,768 | -2.88% |
| Full Truck Alliance Co. Ltd. (YMM) | Equity | -13.60% | 4,294,886 | 0.13% | $8.12 | $8.20 | $34,874,474 | $35,218,065 | +$343,591 | +0.99% |
| Intel Corp. (INTC) | Equity | +100% | 39,132 | 0.02% | $139.63 | $121.78 | $5,464,001 | $4,765,495 | -$698,506 | -12.78% |
| Lam Research Corp. (LRCX) | Equity | +50.15% | 1,133,965 | 1.82% | $433.33 | $302.28 | $491,381,053 | $342,774,940 | -$148,606,113 | -30.24% |
| Linde PLC (LIN) | Equity | +0.34% | 54,778 | 0.11% | $518.94 | $457.50 | $28,426,495 | $25,060,935 | -$3,365,560 | -11.84% |
| Meta Platforms Inc. (META) | Equity | -24.18% | 969,879 | 2.03% | $563.29 | $741.25 | $546,323,142 | $718,917,959 | +$172,594,817 | +31.59% |
| Robinhood Markets Inc. (HOOD) | Equity | +1315.70% | 53,032 | 0.02% | $100.28 | $123.30 | $5,318,049 | $6,538,846 | +$1,220,797 | +22.96% |
| Formula One Group (FWONK) | Equity | -3.24% | 1,509,193 | 0.53% | $95.14 | $96.43 | $143,584,622 | $145,531,481 | +$1,946,859 | +1.36% |
| Lumentum Holdings Inc. (LITE) | Equity | +849.04% | 2,961 | 0.01% | $858.06 | $954.49 | $2,540,716 | $2,826,245 | +$285,529 | +11.24% |
| Mercadolibre Inc. (MELI) | Equity | -20.45% | 378,208 | 2.38% | $1,697.39 | $1,820.47 | $641,966,477 | $688,516,318 | +$46,549,841 | +7.25% |
| Samsara Inc. (IOT) | Equity | -27.52% | 11,348,732 | 1.37% | $32.43 | $38.05 | $368,039,379 | $431,819,253 | +$63,779,874 | +17.33% |
| Sea Limited (SE) | Equity | -36.59% | 2,998,337 | 1.07% | $95.83 | $102.65 | $287,330,635 | $307,779,293 | +$20,448,658 | +7.12% |
| Shopify Inc. (SHOP) | Equity | -18.95% | 7,242,079 | 3.07% | $114.18 | $137.92 | $826,900,580 | $998,827,536 | +$171,926,956 | +20.79% |
| Transdigm Group Inc. (TDG) | Equity | -4.95% | 89,669 | 0.44% | $1,332.04 | $1,109.65 | $119,442,695 | $99,501,206 | -$19,941,489 | -16.70% |
| Quanta Services Inc. (PWR) | Equity | +19.82% | 750,479 | 2.01% | $720.04 | $642.61 | $540,374,899 | $482,265,310 | -$58,109,589 | -10.75% |
| Woodward Inc. (WWD) | Equity | +100% | 153,660 | 0.24% | $425.44 | $325.16 | $65,373,110 | $49,964,086 | -$15,409,024 | -23.57% |
| Sandisk Corp (SNDK) | Equity | +100% | 153,093 | 1.29% | $2,273.73 | $1,766.64 | $348,092,147 | $270,460,218 | -$77,631,929 | -22.30% |
| Seagate Technology Holdings PLC (STX) | Equity | +35.51% | 720,741 | 2.58% | $965.00 | $877.33 | $695,515,065 | $632,324,098 | -$63,190,967 | -9.09% |
| Space Exploration Techn corp (SPCX) | Equity | +100% | 2,276,744 | 1.44% | $170.86 | $151.85 | $389,004,480 | $345,723,576 | -$43,280,904 | -11.13% |
| Spotify Technology S.A. (SPOT) | Equity | -1.84% | 1,761,206 | 3.00% | $459.13 | $516.77 | $808,622,511 | $910,138,425 | +$101,515,914 | +12.55% |
| Taiwan Semiconductor Manufacturing Company Limited (TSM) | Equity | -33.04% | 3,925,440 | 6.96% | $477.57 | $445.14 | $1,874,672,381 | $1,747,370,362 | -$127,302,019 | -6.79% |
| Ttm Technologies Inc. (TTMI) | Equity | +100% | 23,625 | 0.02% | $187.02 | $124.02 | $4,418,347 | $2,929,973 | -$1,488,374 | -33.69% |
| Visa Inc. (V) | Equity | -14.20% | 2,377,099 | 3.03% | $343.09 | $369.95 | $815,558,896 | $879,407,775 | +$63,848,879 | +7.83% |
| Waste Connections Inc. (WCN) | Equity | -3.97% | 609,721 | 0.38% | $166.69 | $155.55 | $101,634,393 | $94,842,102 | -$6,792,291 | -6.68% |