Sands Capital Management latest moves — 2025Q4

Capital flow per quarter

BuysSellsNet

Latest · 2025Q4

-$280M

Lifetime buys

$38.79B

Lifetime sells

$50.86B

Quarter activity

What changed in 2024Q4 - net new, added, trimmed, exited.

New positions9 names

APPAPPLOVIN CORP
+826,394
$267.6M
TTEKTETRA TECH INC NEW
+4,338,203
$172.8M
HTHTHUAZHU GROUP LTD
+3,400,833
$112.3M
YMMFULL TRUCK ALLIANCE CO LTD
+6,158,039
$66.6M
G54950LINDE PLC
+89,643
$37.5M
CPCANADIAN PACIFIC KANSAS CITY
+411,228
$29.8M
CRWDCROWDSTRIKE HLDGS INC
+78,958
$27.0M
M7S64HMONDAY COM LTD
+87,458
$20.6M
G4705AICON PLC
+94,700
$19.9M

Added to14 names

SPOTSPOTIFY TECHNOLOGY S A
+860,956
$385.2M
NOWSERVICENOW INC
+268,510
$284.7M
NETCLOUDFLARE INC
+1,421,670
$153.1M
IRTCIRHYTHM TECHNOLOGIES INC
+1,053,811
$95.0M
IOTSAMSARA INC
+2,154,027
$94.1M
UBERUBER TECHNOLOGIES INC
+1,336,921
$80.6M
ICEINTERCONTINENTAL EXCHANGE IN
+539,883
$80.4M
G3643JFLUTTER ENTMT PLC
+275,575
$71.2M
TEAMATLASSIAN CORPORATION
+270,450
$65.8M
DXCMDEXCOM INC
+790,303
$61.5M
WCNWASTE CONNECTIONS INC
+152,175
$26.1M
N3167YFERRARI N V
+39,697
$16.9M
+ 2 more…

Trimmed45 names

OKTAOKTA INC
−8,164,408
$643.4M
EWEDWARDS LIFESCIENCES CORP
−5,320,024
$393.8M
AMZNAMAZON COM INC
−742,725
$162.9M
MELIMERCADOLIBRE INC
−87,128
$148.2M
SHOPSHOPIFY INC
−1,392,858
$148.1M
NVDANVIDIA CORPORATION
−1,015,815
$136.4M
VVISA INC
−420,646
$132.9M
DDOGDATADOG INC
−744,527
$106.4M
MSFTMICROSOFT CORP
−239,651
$101.0M
SESEA LTD
−949,226
$100.7M
ASMLASML HOLDING N V
−138,960
$96.3M
AXONAXON ENTERPRISE INC
−133,107
$79.1M
+ 33 more…

Exited5 names

LRCXEURLAM RESEARCH CORP
−824,114
$672.5M
FNDFLOOR & DECOR HLDGS INC
−1,851,612
$229.9M
ALGNALIGN TECHNOLOGY INC
−800,408
$203.6M
IQVIQVIA HLDGS INC
−398,006
$94.3M
INDAISHARES TR
−111,999
$6.6M

Recent transactions

Last 20 moves

TRIM

Sands Capital Management trimmed DDOG

DATADOG INC

−380,880

~$135.99 · 2025Q4

2026-02-13

TRIM

Sands Capital Management trimmed RARE

ULTRAGENYX PHARMACEUTICAL IN

−284,129

~$23.00 · 2025Q4

2026-02-13

TRIM

Sands Capital Management trimmed META

META PLATFORMS INC

−133,193

~$660.09 · 2025Q4

2026-02-13

NEW

Sands Capital Management opened a new position in IWF

ISHARES TR

+8,215

~$473.30 · 2025Q4

2026-02-13

NEW

Sands Capital Management opened a new position in PWR

QUANTA SVCS INC

+576,896

~$422.06 · 2025Q4

2026-02-13

NEW

Sands Capital Management opened a new position in PLTR

PALANTIR TECHNOLOGIES INC

+19,840

~$177.75 · 2025Q4

2026-02-13

NEW

Sands Capital Management opened a new position in CRS

CARPENTER TECHNOLOGY CORP

+621,684

~$314.84 · 2025Q4

2026-02-13

NEW

Sands Capital Management opened a new position in BSX

BOSTON SCIENTIFIC CORP

+805,164

~$95.35 · 2025Q4

2026-02-13

NEW

Sands Capital Management opened a new position in BABA

ALIBABA GROUP HLDG LTD

+7,511

~$146.58 · 2025Q4

2026-02-13

TRIM

Sands Capital Management trimmed WCN

WASTE CONNECTIONS INC

−217,314

~$175.36 · 2025Q4

2026-02-13

TRIM

Sands Capital Management trimmed V

VISA INC

−936,904

~$350.71 · 2025Q4

2026-02-13

SOLD

Sands Capital Management exited VG

VENTURE GLOBAL INC

−7,484,070

~$14.19 · 2025Q4

2026-02-13

ADD

Sands Capital Management added to TDG

TRANSDIGM GROUP INC

+9,883

~$1329.85 · 2025Q4

2026-02-13

TRIM

Sands Capital Management trimmed TTEK

TETRA TECH INC NEW

−172,028

~$33.54 · 2025Q4

2026-02-13

TRIM

Sands Capital Management trimmed TSM

TAIWAN SEMICONDUCTOR MFG LTD

−2,425,714

~$303.89 · 2025Q4

2026-02-13

ADD

Sands Capital Management added to T9224W109

STEVANATO GROUP S P A

+28,075

~$20.12 · 2025Q4

2026-02-13

TRIM

Sands Capital Management trimmed SPOT

SPOTIFY TECHNOLOGY S A

−77,792

~$580.71 · 2025Q4

2026-02-13

ADD

Sands Capital Management added to SHOP

SHOPIFY INC

+2,568,765

~$160.97 · 2025Q4

2026-02-13

ADD

Sands Capital Management added to NOW

SERVICENOW INC

+2,596,637

~$153.19 · 2025Q4

2026-02-13

ADD

Sands Capital Management added to SE

SEA LTD

+617,846

~$127.57 · 2025Q4

2026-02-13