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Investors / Sands Capital
Frank Sands / Sands Capital
13F
71 positions · Q2 2026AI holdings · 30 tickers
$16.55B| # | Ticker | Company | Layer | Value | Shares | % of AUM | Entry quarter |
|---|---|---|---|---|---|---|---|
| NVDA | |||||||
| TSM | |||||||
| GOOGL | |||||||
| AMZN | |||||||
| ASML | |||||||
| BE | |||||||
| NET | |||||||
| STX | |||||||
| MU | |||||||
| META | |||||||
| ISRG | |||||||
| LRCX | |||||||
| MSFT | |||||||
| APP | |||||||
| AVGO | |||||||
| AMD | |||||||
| SPCX | |||||||
| IOT | |||||||
| SNDK | |||||||
| DDOG | |||||||
| ARM | |||||||
| AAPL | |||||||
| PANW | |||||||
| CRWD | |||||||
| INTC | |||||||
| GTLB | |||||||
| LITE | |||||||
| CBRS | |||||||
| PLTR | |||||||
| BABA |
Other holdings · 41 tickers
$10.38B · non-AI| # | Ticker | Company | Value | Shares | % of AUM | Entry quarter |
|---|---|---|---|---|---|---|
| 31 | AXON | $830.2M | 3.1% | |||
| 32 | SHOP | $826.9M | 3.1% | |||
| 33 | V | $815.6M | 3.0% | |||
| 34 | SPOT | $808.6M | 3.0% | |||
| 35 | MELI | $642M | 2.4% | |||
| 36 | CVNA | $557M | 2.1% | |||
| 37 | PWR | $540.4M | 2.0% | |||
| 38 | ICE | $499.3M | 1.9% | |||
| 39 | CRS | $484.9M | 1.8% | |||
| 40 | DASH | $429.2M | 1.6% | |||
| 41 | XYZ | $428.1M | 1.6% | |||
| 42 | NFLX | $381M | 1.4% | |||
| 43 | CSL | $290.2M | 1.1% | |||
| 44 | SE | $287.3M | 1.1% | |||
| 45 | ARGX | $277M | 1.0% | |||
| 46 | ONON | $265.1M | 1.0% | |||
| 47 | SPHR | $235M | 0.9% | |||
| 48 | BLDR | $204.3M | 0.8% | |||
| 49 | NU UN | $166.7M | 0.6% | |||
| 50 | FWONK | $143.6M | 0.5% | |||
| 51 | MCK | $138.7M | 0.5% | |||
| 52 | APH | $134.7M | 0.5% | |||
| 53 | KSPI | $132.6M | 0.5% | |||
| 54 | CPNG | $131.3M | 0.5% | |||
| 55 | TDG | $119.4M | 0.4% | |||
| 56 | RARE | $105.5M | 0.4% | |||
| 57 | RACE | $104.3M | 0.4% | |||
| 58 | WCN | $101.6M | 0.4% | |||
| 59 | WWD | $65.4M | 0.2% | |||
| 60 | GRAB | $61.8M | 0.2% | |||
| 61 | LLY | $54.4M | 0.2% | |||
| 62 | YMM | $34.9M | 0.1% | |||
| 63 | LIN | $28.4M | 0.1% | |||
| 64 | HDB | $22.4M | 0.1% | |||
| 65 | STVN | $9.5M | 0.0% | |||
| 66 | HOOD | $5.3M | 0.0% | |||
| 67 | TTMI | $4.4M | 0.0% | |||
| 68 | AVAV | $3.1M | 0.0% | |||
| 69 | KVYO | $3M | 0.0% | |||
| 70 | IWF | $2.8M | 0.0% | |||
| 71 | TBBB | $262K | 0.0% |
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 (335)
Q4 2024
Q1 2025
Q2 2025
Q3 2025
Q4 2025
Q1 2026
Q2 2026
NVDA
—
TRIM−2M
ADD+2M
TRIM−728K
TRIM−785K
TRIM−2M
TRIM−4M
TSM
TRIM−283K
ADD+4M
ADD+525K
ADD+700K
TRIM−2M
TRIM−963K
TRIM−2M
GOOGL
—
TRIM−270K
TRIM−264K
ADD+2M
ADD+168K
ADD+185K
TRIM−231K
AMZN
TRIM−743K
TRIM−713K
TRIM−2M
TRIM−816K
TRIM−974K
TRIM−721K
TRIM−2M
ASML
—
TRIM−1M
TRIM−27K
TRIM−1K
ADD+141K
TRIM−30K
TRIM−106K
BE
—
—
—
—
—
NEW+2M
ADD+1M
NET
ADD+1M
TRIM−1M
TRIM−1M
TRIM−1M
TRIM−77K
TRIM−70K
TRIM−422K
STX
—
—
—
—
—
NEW+532K
ADD+189K
MU
—
—
—
—
—
—
NEW+527K
META
TRIM−84K
ADD+176K
TRIM−202K
ADD+82K
TRIM−133K
ADD+24K
TRIM−309K
ISRG
—
NEW+544K
ADD+213K
ADD+584K
ADD+36K
TRIM−56K
TRIM−69K
LRCX
—
—
—
—
—
NEW+755K
ADD+379K
MSFT
TRIM−240K
TRIM−156K
ADD+306K
TRIM−89K
TRIM−395K
TRIM−941K
TRIM−221K
APP
—
ADD+1M
TRIM−1M
ADD+200K
ADD+446K
TRIM−492K
TRIM−140K
AVGO
—
NEW+1M
ADD+422K
ADD+217K
ADD+54K
TRIM−712K
TRIM−276K
AMD
—
—
—
—
—
—
NEW+673K
SPCX
—
—
—
—
—
—
NEW+2M
IOT
ADD+2M
ADD+6M
ADD+3M
ADD+1M
TRIM−1M
TRIM−3M
TRIM−4M
SNDK
—
—
—
—
—
—
NEW+153K
DDOG
TRIM−745K
TRIM−611K
TRIM−143K
TRIM−877K
TRIM−381K
TRIM−107K
TRIM−407K
ARM
—
—
—
—
—
—
NEW+643K
AAPL
TRIM−17K
TRIM−2M
DROP
—
—
NEW+3K
ADD+42K
PANW
—
—
NEW+155K
ADD+40K
TRIM−32K
TRIM−2K
TRIM−130K
CRWD
NEW+79K
TRIM−35K
ADD+604
DROP
—
—
NEW+10K
INTC
—
—
—
—
—
—
NEW+39K
GTLB
—
HOLD
HOLD
HOLD
HOLD
HOLD
HOLD
LITE
—
—
—
—
—
NEW+312
ADD+3K
CBRS
—
—
—
—
—
—
NEW+11K
PLTR
—
—
—
—
NEW+20K
ADD+3K
TRIM−5K
BABA
—
—
—
—
NEW+8K
ADD+282
TRIM−843
TEAM
ADD+270K
TRIM−602K
TRIM−1M
ADD+53K
TRIM−3M
TRIM−122K
DROP
ANET
—
—
—
—
—
NEW+3K
DROP
SNOW
—
TRIM−2M
TRIM−584K
HOLD
HOLD
TRIM−8K
DROP
NOW
—
ADD+6K
TRIM−50K
TRIM−162K
TRIM−2M
TRIM−4M
DROP
CDNS
—
ADD+116K
ADD+3K
ADD+24K
TRIM−80K
DROP
—
ORCL
—
—
—
NEW+936K
DROP
—
—
GOOG
TRIM−27K
TRIM−33K
TRIM−21K
DROP
—
—
—
ENTG
TRIM−553K
TRIM−7M
DROP
—
—
—
—
PATH
—
TRIM−29K
DROP
—
—
—
—
Not held
low → high position value
Hover any cell for share + value delta| Period | Action | Ticker | Δ Shares | Δ Value |
|---|---|---|---|---|
| Q2 2026 | ADD | BE | +1,147,520 | +$644.8M |
| Q2 2026 | NEW | MU | +526,810 | +$608.1M |
| Q2 2026 | ADD | STX | +188,849 | +$487.1M |
| Q2 2026 | NEW | AMD | +672,555 | +$390.7M |
| Q2 2026 | NEW | SPCX | +2,276,744 | +$389M |
| Q2 2026 | NEW | SNDK | +153,093 | +$348.1M |
| Q2 2026 | TRIM | NVDA | -4,026,288 | $-341M |
| Q2 2026 | ADD | LRCX | +378,743 | +$330M |
| Q2 2026 | TRIM | GOOGL | -231,097 | +$275.2M |
| Q2 2026 | TRIM | AMZN | -1,857,832 | $-240.8M |
| Q2 2026 | NEW | ARM | +642,829 | +$227.9M |
| Q2 2026 | TRIM | ASML | -106,140 | +$216.6M |
| Q2 2026 | TRIM | META | -309,242 | $-185.5M |
| Q2 2026 | TRIM | IOT | -4,309,012 | $-128.2M |
| Q2 2026 | TRIM | ISRG | -68,850 | $-111M |
| Q2 2026 | TRIM | TSM | -1,937,245 | $-106.6M |
| Q2 2026 | TRIM | DDOG | -406,567 | +$94.3M |
| Q2 2026 | TRIM | MSFT | -220,894 | $-78M |
| Q2 2026 | TRIM | APP | -139,864 | +$41.8M |
| Q2 2026 | TRIM | NET | -422,245 | +$39M |
| Q2 2026 | TRIM | PANW | -129,766 | $-15.1M |
| Q2 2026 | ADD | AAPL | +42,379 | +$12.4M |
| Q2 2026 | TRIM | AVGO | -275,923 | $-8.5M |
| Q2 2026 | NEW | CRWD | +10,020 | +$7.6M |
| Q2 2026 | NEW | INTC | +39,132 | +$5.5M |
| Q2 2026 | DROP | NOW | -31,521 | $-3.3M |
| Q2 2026 | NEW | CBRS | +11,419 | +$2.5M |
| Q2 2026 | ADD | LITE | +2,649 | +$2.3M |
| Q2 2026 | TRIM | PLTR | -4,975 | $-1.3M |
| Q2 2026 | DROP | TEAM | -14,281 | $-975K |
| Q2 2026 | DROP | SNOW | -4,178 | $-630K |
| Q2 2026 | DROP | ANET | -2,698 | $-331K |
| Q2 2026 | TRIM | BABA | -843 | $-311K |
| 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 | NEW | STX | +531,892 | +$208.4M |
| Q1 2026 | TRIM | IOT | -3,465,574 | $-181.7M |
| 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 | NEW | 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 | TRIM | NOW | -2,388,471 | $-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 | IOT | -1,395,014 | $-86.4M |
| 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 |
| Q3 2025 | ADD | IOT | +1,242,122 | $-2.5M |
| 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 | ADD | IOT | +2,833,049 | +$136.5M |
| 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 | ADD | IOT | +6,073,397 | +$177.2M |
| 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 | TEAM | +270,450 | +$425.2M |
| Q4 2024 | ADD | NET | +1,421,670 | +$323.1M |
| Q4 2024 | TRIM | AMZN | -742,725 | +$252M |
| Q4 2024 | TRIM | ENTG | -552,986 | $-159.4M |
| Q4 2024 | TRIM | MSFT | -239,651 | $-127.8M |
| Q4 2024 | ADD | IOT | +2,154,027 | +$57.7M |
| 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 | GOOG | -26,793 | +$10.8M |