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Frank Sands

Sands Capital Management

Sands Capital Management, Frank Sands' global growth and innovation platforms

Sands Capital is a growth manager focused on innovative businesses with large markets and durable competitive advantages. The public portfolio is useful for reading conviction in software, healthcare, consumer platforms, and emerging global leaders.

Sources Sands Capital Management official site SEC EDGAR profile Frank M. Sands official profile
Growth / innovation platforms CIK 1020066
2026-03-31 Latest 13F 20 Current holdings 116 Last 2 periods Change 0 Public materials
Latest 13F snapshot 2026-03-31 · 67 disclosed positions · $25.5B Top five 35.6%: NVDA, TSM, GOOGL, AMZN, SHOP

Performance materials

  • Sands Capital publishes strategy and fund materials. Official materials provide the performance context.

Firm and key people

  • Sands Capital has a long-running growth-investing process led by the Sands organization.
  • The firm publishes materials that discuss business quality, innovation, and long-term growth.
  • The 13F helps show how US-listed growth exposure changes over time.

Investment style

  • Prefer sustainable above-average growth, leadership, financial strength, and large addressable markets.
  • Innovation matters, but valuation and execution risk still need discipline.
  • Position changes should be read with growth expectations and competitive developments.

Public materials

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Shareholder letters / memos 0
Interview 0
Public video 0
Public Q&A / speeches / presentations 0

Current holdings

13F period 2026-03-31 · Filed 2026-05-08
Stocks Shares Value Weight
NVDA 18,085,742 $3.2B 12.4%
TSM 5,862,685 $2.0B 7.8%
GOOGL 5,124,494 $1.5B 5.8%
AMZN 6,719,055 $1.4B 5.5%
SHOP 8,935,666 $1.1B 4.2%
NFLX 9,414,668 $905.2M 3.6%
SPOT 1,794,226 $870.0M 3.4%
ASML 639,833 $845.1M 3.3%
V 2,770,431 $837.3M 3.3%
MELI 475,455 $822.1M 3.2%
NET 3,661,749 $755.6M 3.0%
META 1,279,121 $731.8M 2.9%
ICE 4,384,298 $689.6M 2.7%
CVNA 2,117,248 $665.6M 2.6%
AXON 1,564,504 $664.4M 2.6%
ISRG 1,321,274 $609.1M 2.4%
DASH 3,957,060 $594.2M 2.3%
MSFT 1,530,124 $566.4M 2.2%
IOT 15,657,744 $496.2M 1.9%
NU 34,342,221 $493.5M 1.9%

Last 2 quarters US 13F new / increased / reduced / sold-out positions

As of 13F 2026-03-31 · Filed 2026-05-08
Last 1 quarters Last 2 quarters Last 3 quarters Last 4 quarters
Stocks Action 13F period Current shares Previous shares Share change 13F value change
MSFT Major reduction 2026-03-31 Filed 2026-05-08 1,530,124 2,470,769 -38.1% -$628.5M
APP Major reduction 2026-03-31 Filed 2026-05-08 971,561 1,463,351 -33.6% -$599.4M
NOW Major reduction 2026-03-31 Filed 2026-05-08 31,521 3,842,914 -99.2% -$585.4M
NVDA Minor reduction 2026-03-31 Filed 2026-05-08 18,085,742 20,043,571 -9.8% -$584.0M
SHOP Minor reduction 2026-03-31 Filed 2026-05-08 8,935,666 9,506,036 -6.0% -$470.2M
DASH Minor reduction 2026-03-31 Filed 2026-05-08 3,957,060 4,496,607 -12.0% -$424.2M
CVNA Minor reduction 2026-03-31 Filed 2026-05-08 2,117,248 2,442,534 -13.3% -$365.2M
AMZN Minor reduction 2026-03-31 Filed 2026-05-08 6,719,055 7,440,012 -9.7% -$317.9M
SE Minor reduction 2026-03-31 Filed 2026-05-08 4,728,550 5,501,013 -14.0% -$310.2M
IRTC Sold out 2026-03-31 Filed 2026-05-08 0 1,699,645 -100.0% -$301.6M
AVGO Major reduction 2026-03-31 Filed 2026-05-08 1,402,835 2,114,521 -33.7% -$297.6M
NU Major reduction 2026-03-31 Filed 2026-05-08 34,342,221 44,423,895 -22.7% -$250.2M
AXON Minor reduction 2026-03-31 Filed 2026-05-08 1,564,504 1,609,436 -2.8% -$249.6M
V Minor reduction 2026-03-31 Filed 2026-05-08 2,770,431 3,090,129 -10.3% -$246.4M
BE New 2026-03-31 Filed 2026-05-08 1,779,038 0 - +$241.0M
STX New 2026-03-31 Filed 2026-05-08 531,892 0 - +$208.4M
MELI Minor reduction 2026-03-31 Filed 2026-05-08 475,455 509,645 -6.7% -$204.5M
ICE Major reduction 2026-03-31 Filed 2026-05-08 4,384,298 5,502,896 -20.3% -$201.7M
HDB Major reduction 2026-03-31 Filed 2026-05-08 907,652 6,117,362 -85.2% -$200.9M
IOT Major reduction 2026-03-31 Filed 2026-05-08 15,657,744 19,123,318 -18.1% -$181.7M
ISRG Minor reduction 2026-03-31 Filed 2026-05-08 1,321,274 1,376,958 -4.0% -$170.8M
LRCX New 2026-03-31 Filed 2026-05-08 755,222 0 - +$161.4M
CRS Major increase 2026-03-31 Filed 2026-05-08 823,277 621,684 32.4% +$128.8M
ASML Minor reduction 2026-03-31 Filed 2026-05-08 639,833 669,985 -4.5% +$128.3M
ROP Sold out 2026-03-31 Filed 2026-05-08 0 287,318 -100.0% -$127.9M
RBLX Minor reduction 2026-03-31 Filed 2026-05-08 2,726,701 3,183,399 -14.3% -$103.7M
PWR Minor increase 2026-03-31 Filed 2026-05-08 626,348 576,896 8.6% +$100.4M
META Minor increase 2026-03-31 Filed 2026-05-08 1,279,121 1,254,871 1.9% -$96.5M
SAP Sold out 2026-03-31 Filed 2026-05-08 0 394,117 -100.0% -$95.7M
ONON Minor reduction 2026-03-31 Filed 2026-05-08 6,325,547 6,635,050 -4.7% -$93.2M
TSM Minor reduction 2026-03-31 Filed 2026-05-08 5,862,685 6,826,175 -14.1% -$93.1M
CDNS Sold out 2026-03-31 Filed 2026-05-08 0 252,008 -100.0% -$78.8M
FWONK Major reduction 2026-03-31 Filed 2026-05-08 1,559,760 2,082,513 -25.1% -$72.5M
GOOGL Minor increase 2026-03-31 Filed 2026-05-08 5,124,494 4,939,049 3.8% -$72.3M
CPNG Minor reduction 2026-03-31 Filed 2026-05-08 9,172,187 10,319,665 -11.1% -$70.3M
BLDR Minor reduction 2026-03-31 Filed 2026-05-08 2,621,085 2,757,969 -5.0% -$68.0M
WCN Major reduction 2026-03-31 Filed 2026-05-08 634,903 965,880 -34.3% -$66.2M
AJG Sold out 2026-03-31 Filed 2026-05-08 0 244,255 -100.0% -$63.2M
XYZ Minor reduction 2026-03-31 Filed 2026-05-08 5,510,835 5,929,883 -7.1% -$54.3M
ARGX Minor reduction 2026-03-31 Filed 2026-05-08 340,285 356,870 -4.6% -$51.6M
GLOB Sold out 2026-03-31 Filed 2026-05-08 0 770,560 -100.0% -$50.4M
DDOG Minor reduction 2026-03-31 Filed 2026-05-08 1,406,366 1,513,800 -7.1% -$39.8M
KSPI Major reduction 2026-03-31 Filed 2026-05-08 1,586,334 1,948,761 -18.6% -$34.8M
NFLX Minor reduction 2026-03-31 Filed 2026-05-08 9,414,668 10,023,088 -6.1% -$34.5M
TTEK Minor reduction 2026-03-31 Filed 2026-05-08 6,658,823 7,007,004 -5.0% -$34.5M
MCK Major increase 2026-03-31 Filed 2026-05-08 201,283 174,268 15.5% +$31.2M
BSX Minor reduction 2026-03-31 Filed 2026-05-08 736,109 805,164 -8.6% -$30.6M
LLY New 2026-03-31 Filed 2026-05-08 32,887 0 - +$30.2M
TDG Minor reduction 2026-03-31 Filed 2026-05-08 94,341 103,179 -8.6% -$27.9M
YMM Major reduction 2026-03-31 Filed 2026-05-08 4,970,779 6,123,768 -18.8% -$24.5M
GRAB Major reduction 2026-03-31 Filed 2026-05-08 9,122,432 11,244,055 -18.9% -$22.7M
NET Minor reduction 2026-03-31 Filed 2026-05-08 3,661,749 3,731,287 -1.9% +$19.9M
RACE Minor reduction 2026-03-31 Filed 2026-05-08 287,709 309,983 -7.2% -$17.2M
APH Minor reduction 2026-03-31 Filed 2026-05-08 805,602 879,004 -8.4% -$17.0M
SPOT Major increase 2026-03-31 Filed 2026-05-08 1,794,226 1,469,848 22.1% +$16.5M
PANW Minor reduction 2026-03-31 Filed 2026-05-08 161,078 162,963 -1.2% -$4.2M
CSL Minor reduction 2026-03-31 Filed 2026-05-08 919,614 967,640 -5.0% -$2.7M
LIN Minor reduction 2026-03-31 Filed 2026-05-08 54,593 59,214 -7.8% +$1.8M
NOW Major increase 2025-12-31 Filed 2026-02-13 3,842,914 1,246,277 208.4% -$558.2M
TSM Major reduction 2025-12-31 Filed 2026-02-13 6,826,175 9,251,889 -26.2% -$509.6M
SHOP Major increase 2025-12-31 Filed 2026-02-13 9,506,036 6,937,271 37.0% +$499.2M
XYZ Major reduction 2025-12-31 Filed 2026-02-13 5,929,883 11,603,057 -48.9% -$452.6M
NFLX Major increase 2025-12-31 Filed 2026-02-13 10,023,088 1,120,658 794.4% -$403.8M
TEAM Major reduction 2025-12-31 Filed 2026-02-13 136,534 2,641,730 -94.8% -$399.7M
CVNA Major increase 2025-12-31 Filed 2026-02-13 2,442,534 1,691,515 44.4% +$392.7M
GOOGL Minor increase 2025-12-31 Filed 2026-02-13 4,939,049 4,771,097 3.5% +$386.1M
DXCM Sold out 2025-12-31 Filed 2026-02-13 0 4,934,189 -100.0% -$332.0M
V Major reduction 2025-12-31 Filed 2026-02-13 3,090,129 4,027,033 -23.3% -$291.0M
MSFT Minor reduction 2025-12-31 Filed 2026-02-13 2,470,769 2,865,638 -13.8% -$289.3M
ARGX Major increase 2025-12-31 Filed 2026-02-13 356,870 16,625 2046.6% +$287.8M
AJG Major reduction 2025-12-31 Filed 2026-02-13 244,255 1,094,070 -77.7% -$275.7M
ORCL Sold out 2025-12-31 Filed 2026-02-13 0 936,043 -100.0% -$263.3M
APP Major increase 2025-12-31 Filed 2026-02-13 1,463,351 1,016,959 43.9% +$255.3M
PWR New 2025-12-31 Filed 2026-02-13 576,896 0 - +$243.5M
SPOT Minor reduction 2025-12-31 Filed 2026-02-13 1,469,848 1,547,640 -5.0% -$226.7M
RBLX Minor reduction 2025-12-31 Filed 2026-02-13 3,183,399 3,476,488 -8.4% -$223.6M
ASML Major increase 2025-12-31 Filed 2026-02-13 669,985 529,164 26.6% +$204.5M
CRS New 2025-12-31 Filed 2026-02-13 621,684 0 - +$195.7M
META Minor reduction 2025-12-31 Filed 2026-02-13 1,254,871 1,388,064 -9.6% -$191.0M
ISRG Minor increase 2025-12-31 Filed 2026-02-13 1,376,958 1,341,109 2.7% +$180.1M
SE Minor increase 2025-12-31 Filed 2026-02-13 5,501,013 4,883,167 12.7% -$171.0M
MELI Minor reduction 2025-12-31 Filed 2026-02-13 509,645 509,845 -0.0% -$164.9M
NVDA Minor reduction 2025-12-31 Filed 2026-02-13 20,043,571 20,828,827 -3.8% -$148.1M
AMZN Minor reduction 2025-12-31 Filed 2026-02-13 7,440,012 8,413,999 -11.6% -$130.2M
AXON Minor increase 2025-12-31 Filed 2026-02-13 1,609,436 1,442,341 11.6% -$121.0M
CPNG Minor reduction 2025-12-31 Filed 2026-02-13 10,319,665 11,024,177 -6.4% -$111.5M
VG Sold out 2025-12-31 Filed 2026-02-13 0 7,484,070 -100.0% -$106.2M
IOT Minor reduction 2025-12-31 Filed 2026-02-13 19,123,318 20,518,332 -6.8% -$86.4M
IRTC Major reduction 2025-12-31 Filed 2026-02-13 1,699,645 2,236,110 -24.0% -$83.0M
NET Minor reduction 2025-12-31 Filed 2026-02-13 3,731,287 3,808,319 -2.0% -$81.6M
BSX New 2025-12-31 Filed 2026-02-13 805,164 0 - +$76.8M
DASH Minor increase 2025-12-31 Filed 2026-02-13 4,496,607 4,023,291 11.8% -$75.9M
NU Minor reduction 2025-12-31 Filed 2026-02-13 44,423,895 50,562,162 -12.1% -$65.8M
ICE Minor reduction 2025-12-31 Filed 2026-02-13 5,502,896 5,677,266 -3.1% -$65.3M
DDOG Major reduction 2025-12-31 Filed 2026-02-13 1,513,800 1,894,680 -20.1% -$63.9M
AVGO Minor increase 2025-12-31 Filed 2026-02-13 2,114,521 2,060,624 2.6% +$52.0M
ROP Major reduction 2025-12-31 Filed 2026-02-13 287,318 351,775 -18.3% -$47.5M
WCN Major reduction 2025-12-31 Filed 2026-02-13 965,880 1,183,194 -18.4% -$38.6M
CDNS Major reduction 2025-12-31 Filed 2026-02-13 252,008 331,887 -24.1% -$37.8M
CSL Minor increase 2025-12-31 Filed 2026-02-13 967,640 849,501 13.9% +$30.1M
YMM Minor reduction 2025-12-31 Filed 2026-02-13 6,123,768 6,766,855 -9.5% -$22.1M
SAP Minor reduction 2025-12-31 Filed 2026-02-13 394,117 440,270 -10.5% -$21.9M
ONON Minor reduction 2025-12-31 Filed 2026-02-13 6,635,050 6,769,430 -2.0% +$21.7M
MCK Minor increase 2025-12-31 Filed 2026-02-13 174,268 157,146 10.9% +$21.5M
APH Minor increase 2025-12-31 Filed 2026-02-13 879,004 795,234 10.5% +$20.4M
GRAB Minor reduction 2025-12-31 Filed 2026-02-13 11,244,055 12,490,985 -10.0% -$19.1M
KSPI Major increase 2025-12-31 Filed 2026-02-13 1,948,761 1,644,240 18.5% +$18.0M
LIN Major reduction 2025-12-31 Filed 2026-02-13 59,214 84,367 -29.8% -$14.8M
TDG Minor increase 2025-12-31 Filed 2026-02-13 103,179 93,296 10.6% +$14.2M
HDB Minor reduction 2025-12-31 Filed 2026-02-13 6,117,362 6,190,788 -1.2% +$12.1M
BLDR Minor increase 2025-12-31 Filed 2026-02-13 2,757,969 2,430,902 13.5% -$11.0M
PANW Major reduction 2025-12-31 Filed 2026-02-13 162,963 194,619 -16.3% -$9.6M
RACE Major increase 2025-12-31 Filed 2026-02-13 309,983 251,698 23.2% -$7.6M
FWONK Minor increase 2025-12-31 Filed 2026-02-13 2,082,513 2,014,627 3.4% -$5.3M
TTEK Minor reduction 2025-12-31 Filed 2026-02-13 7,007,004 7,179,032 -2.4% -$4.6M
GLOB Minor reduction 2025-12-31 Filed 2026-02-13 770,560 848,262 -9.2% +$1.7M

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