2026 Q2 Portfolio Activity
In 2026 Q2, SANDS CAPITAL MANAGEMENT, LLC maintained a portfolio of 80 distinct positions. The most significant new addition was MICRON TECHNOLOGY INC, now representing 2.26% of the total fund value. They heavily accumulated shares in BLOOM ENERGY CORP, increasing the position by 64.5%. The fund also reduced its exposure to NETFLIX INC. by 43.3%.
Position History
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Total Positions
80
Quarter
2026 Q2
Top Holding
NVDA (10.4%)
Top 10 Concentration
47.6%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-50 of 80
SANDS CAPITAL MANAGEMENT, LLC Full Holdings List — 2026 Q2
| Stock | History | Sector / Type | Port % | Prev % | Rank / Prev | Conviction | Change | % Change | Influence | Shares | Mkt Value | Avg Cost | Price Held | 1st Owned | Source | Source Date | Date Reported | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
NVDA
NVIDIA CORPORAT...
|
Technology | 10.45% | 12.38% |
#1
Prev: #1
|
6.0 |
—
|
-4,026,288 | -22.3% |
P
S
|
14,059,454 | $2,813,156,151 | 2022 Q2 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
TSM
TAIWAN SEMICOND...
|
Technology | 6.96% | 7.77% |
#2
Prev: #2
|
4.3 |
—
|
-1,937,245 | -33.0% |
P
S
|
3,925,440 | $1,874,672,381 | 2009 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
GOOGL
ALPHABET INC
|
Communication Services | 6.49% | 5.78% |
#3
Prev: #3
|
4.1 |
—
|
-231,097 | -4.5% |
P
S
|
4,893,397 | $1,748,753,286 | 2015 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
AMZN
AMAZON COM INC
|
Consumer Cyclical | 4.30% | 5.49% |
#4
Prev: #4
|
2.2 |
—
|
-1,857,832 | -27.7% |
P
S
|
4,861,223 | $1,158,623,890 | 2004 Q3 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
ASML
ASML HLDG NV
|
Technology | 3.94% | 3.32% |
#5
3
Prev: #8
|
2.6 |
—
|
-106,140 | -16.6% |
P
S
|
533,693 | $1,061,750,202 | 2012 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
BE
BLOOM ENERGY CO...
|
Industrials | 3.29% | 0.95% |
#6
23
Prev: #29
|
4.3 |
—
|
1,147,520 | 64.5% |
P
S
|
2,926,558 | $885,869,107 | 2026 Q1 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
AXON
AXON ENTERPRISE...
|
Industrials | 3.08% | 2.61% |
#7
8
Prev: #15
|
1.7 |
—
|
-83,687 | -5.3% |
P
S
|
1,480,817 | $830,160,818 | 2023 Q1 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
SHOP
SHOPIFY INC
|
Technology | 3.07% | 4.16% |
#8
3
Prev: #5
|
1.7 |
—
|
-1,693,587 | -19.0% |
P
S
|
7,242,079 | $826,900,580 | 2017 Q1 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
V
VISA INC
|
Financial Services | 3.03% | 3.29% |
#9
Prev: #9
|
1.7 |
—
|
-393,332 | -14.2% |
P
S
|
2,377,099 | $815,558,896 | 2008 Q2 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
SPOT
SPOTIFY TECHNOL...
|
Communication Services | 3.00% | 3.41% |
#10
3
Prev: #7
|
1.7 |
—
|
-33,020 | -1.8% |
P
S
|
1,761,206 | $808,622,511 | 2024 Q3 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
NET
CLOUDFLARE INC
|
Technology | 2.95% | 2.96% |
#11
Prev: #11
|
1.7 |
—
|
-422,245 | -11.5% |
P
S
|
3,239,504 | $794,585,541 | 2021 Q1 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
STX
SEAGATE TECHNOL...
|
Technology | 2.58% | 0.82% |
#12
20
Prev: #32
|
3.5 |
—
|
188,849 | 35.5% |
P
S
|
720,741 | $695,515,065 | 2026 Q1 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
MELI
MERCADOLIBRE IN...
|
Consumer Cyclical | 2.38% | 3.23% |
#13
3
Prev: #10
|
1.0 |
—
|
-97,247 | -20.5% |
P
S
|
378,208 | $641,966,477 | 2009 Q1 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
MU
MICRON TECHNOLO...
|
Technology | 2.26% | — |
#14
Prev: #—
|
4.4 |
—
|
526,810 | — |
NEW
|
526,810 | $608,091,515 | 2004 Q3 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
CVNA
CARVANA CO
|
Consumer Cyclical | 2.07% | 2.61% |
#15
1
Prev: #14
|
3.8 |
—
|
6,345,697 | 299.7% |
P
S
|
8,462,945 | $557,031,040 | 2021 Q2 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
META
META PLATFORMS ...
|
Communication Services | 2.03% | 2.87% |
#16
4
Prev: #12
|
0.8 |
—
|
-309,242 | -24.2% |
P
S
|
969,879 | $546,323,142 | 2012 Q2 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
PWR
QUANTA SVCS INC
|
Industrials | 2.01% | 1.35% |
#17
7
Prev: #24
|
2.8 |
—
|
124,131 | 19.8% |
P
S
|
750,479 | $540,374,899 | 2025 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
ICE
INTERCONTINENTA...
|
Financial Services | 1.85% | 2.71% |
#18
5
Prev: #13
|
1.2 |
—
|
-328,527 | -7.5% |
P
S
|
4,055,771 | $499,305,968 | 2006 Q2 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
ISRG
INTUITIVE SURGI...
|
Healthcare | 1.85% | 2.39% |
#19
3
Prev: #16
|
1.2 |
—
|
-68,850 | -5.2% |
P
S
|
1,252,424 | $498,063,976 | 2005 Q3 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
LRCX
LAM RESEARCH CO...
|
Technology | 1.82% | 0.63% |
#20
18
Prev: #38
|
3.7 |
—
|
378,743 | 50.1% |
P
S
|
1,133,965 | $491,381,053 | 2020 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
MSFT
MICROSOFT CORP
|
Technology | 1.81% | 2.22% |
#21
3
Prev: #18
|
1.2 |
—
|
-220,894 | -14.4% |
P
S
|
1,309,230 | $488,368,975 | 1999 Q1 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
CRS
CARPENTER TECHN...
|
Industrials | 1.80% | 1.27% |
#22
4
Prev: #26
|
1.2 |
—
|
-37,127 | -4.5% |
P
S
|
786,150 | $484,928,766 | 2025 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
DASH
DOORDASH INC
|
Consumer Cyclical | 1.59% | 2.33% |
#23
6
Prev: #17
|
0.6 |
—
|
-1,631,265 | -41.2% |
P
S
|
2,325,795 | $429,178,951 | 2020 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
APP
APPLOVIN CORP
|
Communication Services | 1.59% | 1.52% |
#24
1
Prev: #23
|
1.1 |
—
|
-139,864 | -14.4% |
P
S
|
831,697 | $428,515,245 | 2024 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
XYZ
BLOCK INC
|
Technology | 1.59% | 1.30% |
#25
Prev: #25
|
1.1 |
—
|
121,670 | 2.2% |
P
S
|
5,632,505 | $428,070,380 | 2020 Q1 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
AVGO
BROADCOM INC
|
Technology | 1.58% | 1.70% |
#26
5
Prev: #21
|
1.1 |
—
|
-275,923 | -19.7% |
P
S
|
1,126,912 | $425,691,008 | 2025 Q1 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
AMD
ADVANCED MICRO ...
|
Technology | 1.45% | — |
#27
Prev: #—
|
4.1 |
—
|
672,555 | — |
NEW
|
672,555 | $390,693,925 | 2004 Q3 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
N/A
SPACE EXPLORATI...
|
|
Unknown | 1.44% | — |
#28
Prev: #—
|
4.1 |
—
|
2,276,744 | — |
NEW
|
2,276,744 | $389,004,480 | — | 13F Filing | 2026-06-30 | 2026-08-13 | ||
|
NFLX
NETFLIX INC.
|
Communication Services | 1.42% | 3.55% |
#29
23
Prev: #6
|
0.6 |
—
|
-4,078,054 | -43.3% |
P
S
|
5,336,614 | $381,034,240 | 2010 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
IOT
SAMSARA INC
|
Technology | 1.37% | 1.95% |
#30
11
Prev: #19
|
0.5 |
—
|
-4,309,012 | -27.5% |
P
S
|
11,348,732 | $368,039,379 | 2021 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
SNDK
SANDISK CORP
|
Technology | 1.29% | — |
#31
Prev: #—
|
4.0 |
—
|
153,093 | — |
NEW
|
153,093 | $348,092,147 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
CSL
CARLISLE COS IN...
|
Industrials | 1.08% | 1.20% |
#32
5
Prev: #27
|
0.9 |
—
|
-119,742 | -13.0% |
P
S
|
799,872 | $290,153,568 | 2025 Q2 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
SE
SEA LTD
|
Consumer Cyclical | 1.07% | 1.54% |
#33
11
Prev: #22
|
0.4 |
—
|
-1,730,213 | -36.6% |
P
S
|
2,998,337 | $287,330,635 | 2017 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
ARGX
ARGENX SE
|
Healthcare | 1.03% | 0.97% |
#34
6
Prev: #28
|
0.9 |
—
|
-41,686 | -12.3% |
P
S
|
298,599 | $277,031,194 | 2025 Q3 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
ONON
ON HLDG AG
|
Consumer Cyclical | 0.98% | 0.84% |
#35
4
Prev: #31
|
2.4 |
—
|
1,159,496 | 18.3% |
P
S
|
7,485,043 | $265,120,223 | 2025 Q2 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
DDOG
DATADOG INC
|
Technology | 0.97% | 0.65% |
#36
1
Prev: #37
|
0.4 |
—
|
-406,567 | -28.9% |
P
S
|
999,799 | $260,307,668 | 2022 Q2 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
SPHR
SPHERE ENTERTAI...
|
Communication Services | 0.87% | — |
#37
Prev: #—
|
3.8 |
—
|
1,358,321 | — |
NEW
|
1,358,321 | $235,030,283 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
ARM
ARM HOLDINGS PL...
|
Technology | 0.85% | — |
#38
Prev: #—
|
3.8 |
—
|
642,829 | — |
NEW
|
642,829 | $227,927,879 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
BLDR
BUILDERS FIRSTS...
|
Industrials | 0.76% | 0.85% |
#39
9
Prev: #30
|
0.8 |
—
|
-337,849 | -12.9% |
P
S
|
2,283,236 | $204,303,957 | 2025 Q1 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
NU
NU HLDGS LTD
|
Financial Services | 0.62% | 1.94% |
#40
20
Prev: #20
|
0.2 |
—
|
-21,866,415 | -63.7% |
P
S
|
12,475,806 | $166,676,768 | 2021 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
FWONK
LIBERTY MEDIA C...
|
Communication Services | 0.53% | 0.52% |
#41
1
Prev: #40
|
0.7 |
—
|
-50,567 | -3.2% |
P
S
|
1,509,193 | $143,584,622 | 2023 Q3 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
MCK
MCKESSON CORP
|
Healthcare | 0.51% | 0.68% |
#42
7
Prev: #35
|
0.7 |
—
|
-17,748 | -8.8% |
P
S
|
183,535 | $138,679,046 | 2025 Q1 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
APH
AMPHENOL CORP
|
Technology | 0.50% | 0.40% |
#43
1
Prev: #44
|
0.7 |
—
|
-41,651 | -5.2% |
P
S
|
763,951 | $134,699,840 | 2025 Q1 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
KSPI
KASPI KZ JSC
|
Technology | 0.49% | 0.46% |
#44
3
Prev: #41
|
0.7 |
—
|
-55,317 | -3.5% |
P
S
|
1,531,017 | $132,647,313 | 2024 Q1 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
CPNG
COUPANG INC
|
Consumer Cyclical | 0.49% | 0.68% |
#45
9
Prev: #36
|
0.7 |
—
|
-1,613,055 | -17.6% |
P
S
|
7,559,132 | $131,302,123 | 2022 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
TDG
TRANSDIGM GROUP...
|
Industrials | 0.44% | 0.43% |
#46
4
Prev: #42
|
0.7 |
—
|
-4,672 | -5.0% |
P
S
|
89,669 | $119,442,695 | 2017 Q1 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
RARE
ULTRAGENYX PHAR...
|
Healthcare | 0.39% | 0.26% |
#47
1
Prev: #46
|
0.7 |
—
|
-56,165 | -1.7% |
P
S
|
3,158,368 | $105,457,908 | 2023 Q2 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
RACE
FERRARI N V
|
Consumer Cyclical | 0.39% | 0.38% |
#48
3
Prev: #45
|
0.7 |
—
|
-7,608 | -2.6% |
P
S
|
280,101 | $104,278,801 | 2023 Q1 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
WCN
WASTE CONNECTIO...
|
Industrials | 0.38% | 0.40% |
#49
6
Prev: #43
|
0.7 |
—
|
-25,182 | -4.0% |
P
S
|
609,721 | $101,634,393 | 2021 Q2 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
WWD
WOODWARD INC
|
Industrials | 0.24% | — |
#50
Prev: #—
|
3.6 |
—
|
153,660 | — |
NEW
|
153,660 | $65,373,110 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-08-13 |
Showing 1-50 of 80 holdings