Investors / Sands Capital
Frank Sands / Sands Capital
13F
67 positions · Q1 2026AI holdings · 24 tickers
$12.94B| # | Ticker | Company | Layer | Value | Shares | % of AUM | Entry quarter |
|---|---|---|---|---|---|---|---|
| NVDA | |||||||
| TSM | |||||||
| GOOGL | |||||||
| AMZN | |||||||
| ASML | |||||||
| NET | |||||||
| META | |||||||
| ISRG | |||||||
| MSFT | |||||||
| AVGO | |||||||
| APP | |||||||
| BE | |||||||
| DDOG | |||||||
| LRCX | |||||||
| PANW | |||||||
| PLTR | |||||||
| NOW | |||||||
| GTLB | |||||||
| BABA | |||||||
| TEAM | |||||||
| AAPL | |||||||
| SNOW | |||||||
| ANET | |||||||
| LITE |
Other holdings · 43 tickers
$12.54B · non-AI| # | Ticker | Company | Value | Shares | % of AUM | Entry quarter |
|---|---|---|---|---|---|---|
| 25 | SHOP | SHOPIFY INC - CLASS A | $1.1B | 8.9M shares | 4.2% | before Q2 2023 |
| 26 | NFLX | NETFLIX INC | $905.2M | 9.4M shares | 3.6% | before Q2 2023 |
| 27 | SPOT | SPOTIFY TECHNOLOGY SA | $870M | 1.8M shares | 3.4% | Q3 2024 |
| 28 | V | VISA INC-CLASS A SHARES | $837.3M | 2.8M shares | 3.3% | before Q2 2023 |
| 29 | MELI | MERCADOLIBRE INC | $822.1M | 475.5K shares | 3.2% | before Q2 2023 |
| 30 | ICE | INTERCONTINENTAL EXCHANGE IN | $689.6M | 4.4M shares | 2.7% | before Q2 2023 |
| 31 | CVNA | CARVANA CO | $665.6M | 2.1M shares | 2.6% | Q1 2025 |
| 32 | AXON | AXON ENTERPRISE INC | $664.4M | 1.6M shares | 2.6% | before Q2 2023 |
| 33 | DASH | DOORDASH INC - A | $594.2M | 4M shares | 2.3% | before Q2 2023 |
| 34 | IOT | Samsara Inc | $496.2M | 15.7M shares | 1.9% | before Q2 2023 |
| 35 | NU UN | NU HOLDINGS LTD/CAYMAN ISL-A | $493.5M | 34.3M shares | 1.9% | before Q2 2023 |
| 36 | SE | SEA LTD-ADR | $391.6M | 4.7M shares | 1.5% | before Q2 2023 |
| 37 | PWR | QUANTA SERVICES INC | $343.9M | 626.3K shares | 1.3% | Q4 2025 |
| 38 | XYZ | BLOCK INC | $331.6M | 5.5M shares | 1.3% | before Q2 2023 |
| 39 | CRS | CARPENTER TECHNOLOGY | $324.5M | 823.3K shares | 1.3% | Q4 2025 |
| 40 | CSL | CARLISLE COS INC | $306.8M | 919.6K shares | 1.2% | Q2 2025 |
| 41 | ARGX | ARGENX SE - ADR | $248.5M | 340.3K shares | 1.0% | Q3 2025 |
| 42 | BLDR | BUILDERS FIRSTSOURCE INC | $215.8M | 2.6M shares | 0.8% | Q1 2025 |
| 43 | ONON | ON HOLDING AG-CLASS A | $215.2M | 6.3M shares | 0.8% | Q2 2025 |
| 44 | STX | Seagate Technology Holdings | $208.4M | 531.9K shares | 0.8% | Q1 2026 |
| 45 | FLUT | FLUTTER ENTERTAINMENT PLC-DI | $202.8M | 2M shares | 0.8% | Q1 2024 |
| 46 | TTEK | TETRA TECH INC | $200.6M | 6.7M shares | 0.8% | Q4 2024 |
| 47 | MCK | MCKESSON CORP | $174.2M | 201.3K shares | 0.7% | Q1 2025 |
| 48 | CPNG | COUPANG INC | $173.2M | 9.2M shares | 0.7% | before Q2 2023 |
| 49 | RBLX | ROBLOX CORP -CLASS A | $154.2M | 2.7M shares | 0.6% | Q3 2024 |
| 50 | FWONK | LIBERTY MEDIA CORP-FORMULA-C | $132.6M | 1.6M shares | 0.5% | Q4 2023 |
| 51 | KSPI | JSC KASPI.KZ ADR | $117.5M | 1.6M shares | 0.5% | Q1 2024 |
| 52 | TDG | TRANSDIGM GROUP INC | $109.3M | 94.3K shares | 0.4% | before Q2 2023 |
| 53 | WCN | WASTE CONNECTIONS INC | $103.1M | 634.9K shares | 0.4% | before Q2 2023 |
| 54 | APH | AMPHENOL CORP-CL A | $101.8M | 805.6K shares | 0.4% | Q1 2025 |
| 55 | RACE | FERRARI NV | $97.4M | 287.7K shares | 0.4% | before Q2 2023 |
| 56 | RARE | ULTRAGENYX PHARMACEUTICAL IN | $67.3M | 3.2M shares | 0.3% | before Q2 2023 |
| 57 | BSX | BOSTON SCIENTIFIC CORP | $46.2M | 736.1K shares | 0.2% | Q4 2025 |
| 58 | YMM | FULL TRUCK ALLIANCE -SPN ADR | $41.3M | 5M shares | 0.2% | Q4 2024 |
| 59 | GRAB | GRAB HOLDINGS LTD - CL A | $33.4M | 9.1M shares | 0.1% | Q3 2024 |
| 60 | LLY | ELI LILLY & CO | $30.2M | 32.9K shares | 0.1% | Q1 2026 |
| 61 | LIN | LINDE PLC | $27.1M | 54.6K shares | 0.1% | Q4 2023 |
| 62 | HDB | HDFC BANK LTD-ADR | $22.6M | 907.7K shares | 0.1% | before Q2 2023 |
| 63 | KVYO | KLAVIYO INC-A | $11.6M | 595.2K shares | 0.0% | Q4 2023 |
| 64 | STVN | STEVANATO GROUP SPA | $6.8M | 497.3K shares | 0.0% | before Q2 2023 |
| 65 | FIG | FIGMA INC-CL A | $4M | 187.6K shares | 0.0% | Q3 2025 |
| 66 | HOOD | ROBINHOOD MARKETS INC - A | $260K | 3.7K shares | 0.0% | Q1 2026 |
| 67 | AVAV | AEROVIRONMENT INC | $246K | 1.3K shares | 0.0% | Q1 2026 |
13G/13D
0 active stakes · SEC ≥5% filingsNo active major stakes since latest 13F.
Per SEC rules, investors must disclose ≥5% positions within 5-10 days of crossing the threshold; this section reflects filings since the latest 13F.
Holdings Timeline
Include non-AI changes (353)
Q3 2024
Q4 2024
Q1 2025
Q2 2025
Q3 2025
Q4 2025
Q1 2026
NVDA
TRIM−2M
TRIM−1M
TRIM−2M
ADD+2M
TRIM−728K
TRIM−785K
TRIM−2M
TSM
—
TRIM−283K
ADD+4M
ADD+525K
ADD+700K
TRIM−2M
TRIM−963K
GOOGL
TRIM−5K
TRIM−134K
TRIM−270K
TRIM−264K
ADD+2M
ADD+168K
ADD+185K
AMZN
TRIM−443K
TRIM−743K
TRIM−713K
TRIM−2M
TRIM−816K
TRIM−974K
TRIM−721K
ASML
TRIM−49K
TRIM−139K
TRIM−1M
TRIM−27K
TRIM−1K
ADD+141K
TRIM−30K
NET
TRIM−125K
ADD+1M
TRIM−1M
TRIM−1M
TRIM−1M
TRIM−77K
TRIM−70K
META
TRIM−575K
TRIM−84K
ADD+176K
TRIM−202K
ADD+82K
TRIM−133K
ADD+24K
ISRG
—
—
NEW+544K
ADD+213K
ADD+584K
ADD+36K
TRIM−56K
MSFT
TRIM−156K
TRIM−240K
TRIM−156K
ADD+306K
TRIM−89K
TRIM−395K
TRIM−941K
AVGO
—
—
NEW+1M
ADD+422K
ADD+217K
ADD+54K
TRIM−712K
APP
—
NEW+826K
ADD+1M
TRIM−1M
ADD+200K
ADD+446K
TRIM−492K
BE
—
—
—
—
—
—
NEW+2M
DDOG
ADD+67K
TRIM−745K
TRIM−611K
TRIM−143K
TRIM−877K
TRIM−381K
TRIM−107K
LRCX
—
—
—
—
—
—
NEW+755K
PANW
—
—
—
NEW+155K
ADD+40K
TRIM−32K
TRIM−2K
PLTR
—
—
—
—
—
NEW+20K
ADD+3K
NOW
—
ADD+269K
ADD+6K
TRIM−50K
TRIM−162K
ADD+3M
TRIM−4M
GTLB
HOLD
HOLD
HOLD
HOLD
HOLD
HOLD
HOLD
BABA
—
—
—
—
—
NEW+8K
ADD+282
TEAM
—
ADD+270K
TRIM−602K
TRIM−1M
ADD+53K
TRIM−3M
TRIM−122K
AAPL
ADD+1M
TRIM−17K
TRIM−2M
DROP
—
—
ADD+3K
SNOW
TRIM−758K
TRIM−110K
TRIM−2M
TRIM−584K
HOLD
HOLD
TRIM−8K
ANET
—
—
—
—
—
—
NEW+3K
LITE
—
—
—
—
—
—
NEW+312
CDNS
TRIM−12K
TRIM−61K
ADD+116K
ADD+3K
ADD+24K
TRIM−80K
DROP
ORCL
—
—
—
—
NEW+936K
DROP
—
CRWD
—
NEW+79K
TRIM−35K
ADD+604
DROP
—
—
GOOG
TRIM−983
TRIM−27K
TRIM−33K
TRIM−21K
DROP
—
—
ENTG
—
TRIM−553K
TRIM−7M
DROP
—
—
—
PATH
HOLD
HOLD
TRIM−29K
DROP
—
—
—
NEW
ADD
HOLD
TRIM (light → heavy)
Not held
Hover any cell for share + value delta| Period | Action | Ticker | Δ Shares | Δ Value |
|---|---|---|---|---|
| Q1 2026 | TRIM | MSFT | -940,645 | $-628.5M |
| Q1 2026 | TRIM | APP | -491,790 | $-599.4M |
| Q1 2026 | TRIM | NOW | -3,811,393 | $-585.4M |
| Q1 2026 | TRIM | NVDA | -1,957,829 | $-584M |
| Q1 2026 | TRIM | AMZN | -720,957 | $-317.9M |
| Q1 2026 | TRIM | AVGO | -711,686 | $-297.6M |
| Q1 2026 | NEW | BE | +1,779,038 | +$241M |
| Q1 2026 | TRIM | ISRG | -55,684 | $-170.8M |
| Q1 2026 | NEW | LRCX | +755,222 | +$161.4M |
| Q1 2026 | TRIM | ASML | -30,152 | +$128.3M |
| Q1 2026 | ADD | META | +24,250 | $-96.5M |
| Q1 2026 | TRIM | TSM | -963,490 | $-93.1M |
| Q1 2026 | DROP | CDNS | -252,008 | $-78.8M |
| Q1 2026 | ADD | GOOGL | +185,445 | $-72.3M |
| Q1 2026 | TRIM | DDOG | -107,434 | $-39.8M |
| Q1 2026 | TRIM | TEAM | -122,253 | $-21.2M |
| Q1 2026 | TRIM | NET | -69,538 | +$19.9M |
| Q1 2026 | TRIM | PANW | -1,885 | $-4.2M |
| Q1 2026 | TRIM | SNOW | -7,782 | $-2M |
| Q1 2026 | ADD | AAPL | +3,219 | +$817K |
| Q1 2026 | NEW | ANET | +2,698 | +$331K |
| Q1 2026 | NEW | LITE | +312 | +$219K |
| Q1 2026 | ADD | PLTR | +3,079 | $-174K |
| Q1 2026 | ADD | BABA | +282 | $-123K |
| Q4 2025 | ADD | NOW | +2,596,637 | $-558.2M |
| Q4 2025 | TRIM | TSM | -2,425,714 | $-509.6M |
| Q4 2025 | TRIM | TEAM | -2,505,196 | $-399.7M |
| Q4 2025 | ADD | GOOGL | +167,952 | +$386.1M |
| Q4 2025 | TRIM | MSFT | -394,869 | $-289.3M |
| Q4 2025 | DROP | ORCL | -936,043 | $-263.3M |
| Q4 2025 | ADD | APP | +446,392 | +$255.3M |
| Q4 2025 | ADD | ASML | +140,821 | +$204.5M |
| Q4 2025 | TRIM | META | -133,193 | $-191M |
| Q4 2025 | ADD | ISRG | +35,849 | +$180.1M |
| Q4 2025 | TRIM | NVDA | -785,256 | $-148.1M |
| Q4 2025 | TRIM | AMZN | -973,987 | $-130.2M |
| Q4 2025 | TRIM | NET | -77,032 | $-81.6M |
| Q4 2025 | TRIM | DDOG | -380,880 | $-63.9M |
| Q4 2025 | ADD | AVGO | +53,897 | +$52M |
| Q4 2025 | TRIM | CDNS | -79,879 | $-37.8M |
| Q4 2025 | TRIM | PANW | -31,656 | $-9.6M |
| Q4 2025 | NEW | PLTR | +19,840 | +$3.5M |
| Q4 2025 | NEW | BABA | +7,511 | +$1.1M |
| Q3 2025 | ADD | TSM | +699,611 | +$647M |
| Q3 2025 | ADD | GOOGL | +1,685,218 | +$616M |
| Q3 2025 | TRIM | NVDA | -728,381 | +$480.4M |
| Q3 2025 | ADD | APP | +199,613 | +$444.6M |
| Q3 2025 | TRIM | NOW | -162,056 | $-301M |
| Q3 2025 | NEW | ORCL | +936,043 | +$263.3M |
| Q3 2025 | ADD | ISRG | +583,539 | +$188.1M |
| Q3 2025 | TRIM | AMZN | -816,024 | $-177.5M |
| Q3 2025 | ADD | AVGO | +217,297 | +$171.7M |
| Q3 2025 | TRIM | NET | -1,120,555 | $-148M |
| Q3 2025 | DROP | GOOG | -603,385 | $-107M |
| Q3 2025 | ADD | TEAM | +53,007 | $-103.9M |
| Q3 2025 | TRIM | DDOG | -877,335 | $-102.6M |
| Q3 2025 | TRIM | ASML | -1,398 | +$87.1M |
| Q3 2025 | ADD | META | +82,023 | +$55.4M |
| Q3 2025 | DROP | CRWD | -45,021 | $-22.9M |
| Q3 2025 | ADD | CDNS | +23,696 | +$21.6M |
| Q3 2025 | TRIM | MSFT | -89,107 | +$14.5M |
| Q3 2025 | ADD | PANW | +39,756 | +$7.9M |
| Q2 2025 | ADD | NVDA | +1,631,025 | +$1.2B |
| Q2 2025 | ADD | TSM | +524,960 | +$604.5M |
| Q2 2025 | ADD | MSFT | +306,497 | +$475.6M |
| Q2 2025 | TRIM | TEAM | -1,329,865 | $-305.8M |
| Q2 2025 | TRIM | NOW | -49,645 | +$287.1M |
| Q2 2025 | ADD | AVGO | +422,457 | +$270.2M |
| Q2 2025 | TRIM | APP | -1,240,847 | $-259.2M |
| Q2 2025 | TRIM | NET | -1,498,572 | +$240.9M |
| Q2 2025 | ADD | ISRG | +213,494 | +$142.2M |
| Q2 2025 | TRIM | META | -201,721 | +$95M |
| Q2 2025 | TRIM | AMZN | -1,864,520 | $-85.9M |
| Q2 2025 | TRIM | SNOW | -584,483 | $-84.5M |
| Q2 2025 | TRIM | DDOG | -143,461 | +$83.1M |
| Q2 2025 | DROP | AAPL | -355,649 | $-79M |
| Q2 2025 | TRIM | ASML | -26,866 | +$55.8M |
| Q2 2025 | NEW | PANW | +154,863 | +$31.7M |
| Q2 2025 | TRIM | GOOGL | -263,848 | +$25.8M |
| Q2 2025 | ADD | CDNS | +3,472 | +$17.5M |
| Q2 2025 | TRIM | GOOG | -20,799 | +$9.5M |
| Q2 2025 | ADD | CRWD | +604 | +$7.3M |
| Q2 2025 | DROP | ENTG | -11,172 | $-977K |
| Q2 2025 | DROP | PATH | -44,642 | $-460K |
| Q1 2025 | TRIM | ASML | -1,228,348 | $-868.3M |
| Q1 2025 | TRIM | NVDA | -2,113,230 | $-800.1M |
| Q1 2025 | TRIM | ENTG | -7,202,901 | $-713.6M |
| Q1 2025 | TRIM | AAPL | -2,359,405 | $-600.9M |
| Q1 2025 | TRIM | AMZN | -713,177 | $-479.6M |
| Q1 2025 | ADD | TSM | +3,626,396 | +$463.4M |
| Q1 2025 | ADD | NOW | +5,723 | $-378.8M |
| Q1 2025 | TRIM | SNOW | -2,321,198 | $-363.3M |
| Q1 2025 | ADD | APP | +1,231,799 | +$277.7M |
| Q1 2025 | NEW | ISRG | +544,076 | +$269.5M |
| Q1 2025 | TRIM | TEAM | -601,587 | $-268.6M |
| Q1 2025 | NEW | AVGO | +1,420,870 | +$237.9M |
| Q1 2025 | TRIM | DDOG | -610,948 | $-214.6M |
| Q1 2025 | TRIM | MSFT | -155,660 | $-187.7M |
| Q1 2025 | TRIM | GOOGL | -269,688 | $-167.2M |
| Q1 2025 | TRIM | NET | -1,338,608 | $-111.9M |
| Q1 2025 | ADD | META | +175,866 | +$89.2M |
| Q1 2025 | TRIM | GOOG | -33,259 | $-27.7M |
| Q1 2025 | ADD | CDNS | +116,475 | +$20.9M |
| Q1 2025 | TRIM | CRWD | -34,541 | $-11.4M |
| Q1 2025 | TRIM | PATH | -28,999 | $-476K |
| Q4 2024 | ADD | NOW | +268,510 | +$480.8M |
| Q4 2024 | ADD | TEAM | +270,450 | +$425.2M |
| Q4 2024 | TRIM | ASML | -138,960 | $-366.1M |
| Q4 2024 | ADD | NET | +1,421,670 | +$323.1M |
| Q4 2024 | NEW | APP | +826,394 | +$267.6M |
| Q4 2024 | TRIM | AMZN | -742,725 | +$252M |
| Q4 2024 | TRIM | NVDA | -1,015,815 | +$159.8M |
| Q4 2024 | TRIM | ENTG | -552,986 | $-159.4M |
| Q4 2024 | TRIM | MSFT | -239,651 | $-127.8M |
| Q4 2024 | TRIM | SNOW | -110,195 | +$102.7M |
| Q4 2024 | TRIM | GOOGL | -134,010 | +$62.6M |
| Q4 2024 | TRIM | TSM | -282,600 | +$55.8M |
| Q4 2024 | TRIM | AAPL | -17,462 | +$43.2M |
| Q4 2024 | TRIM | META | -83,584 | $-30.4M |
| Q4 2024 | NEW | CRWD | +78,958 | +$27M |
| Q4 2024 | TRIM | DDOG | -744,527 | +$12.5M |
| Q4 2024 | TRIM | CDNS | -61,458 | $-11.1M |
| Q4 2024 | TRIM | GOOG | -26,793 | +$10.8M |
| Q3 2024 | TRIM | ASML | -49,282 | $-415.1M |
| Q3 2024 | ADD | AAPL | +1,425,141 | +$361.3M |
| Q3 2024 | TRIM | NVDA | -2,061,193 | $-303.1M |
| Q3 2024 | TRIM | META | -575,182 | $-193.5M |
| Q3 2024 | TRIM | AMZN | -442,620 | $-172.4M |
| Q3 2024 | TRIM | SNOW | -757,535 | $-163.6M |
| Q3 2024 | TRIM | MSFT | -155,863 | $-120.3M |
| Q3 2024 | TRIM | GOOGL | -4,971 | $-62.1M |
| Q3 2024 | ADD | DDOG | +67,271 | $-53.8M |
| Q3 2024 | TRIM | NET | -124,618 | $-22.6M |
| Q3 2024 | TRIM | CDNS | -11,702 | $-12.8M |
| Q3 2024 | TRIM | GOOG | -983 | $-11.3M |