Generalist · Public · Arlington, VA
Sands Capital Management
Q3 2025 · compared with Q2 2025
Filed as Sands Capital Management, LLC
Growth public investor.
- Software
- $8.6B
- Weight of 13F
- 23.7%
- Names
- 23
- Net bought
- −$175M
Filed 13 November 2025 · SEC filing.
This is the Sands Capital filing counted in each stock’s total.
64 positions in the whole 13F.
Quarters on file
Each quarter on file, back to June 2016 when the filing exists. Net bought is the share change from the previous quarter at that quarter’s close. A split that leaves the dollar value in place counts as flat.
- Q2 202615 names$3.9B−$620M
- Q1 202618 names$4.0B−$2.0B
- Q4 202522 names$7.0B+$1.6B
- Q3 202523 names$8.6B−$175M
- Q2 202522 names$8.3B−$1.3B
- Q1 202524 names$8.0B−$385M
- Q4 202423 names$9.6B−$234M
- Q3 202419 names$8.2B−$175M
- Q2 202419 names$8.3B−$736M
- Q1 202423 names$9.7B−$779M
- Q4 202321 names$10.2B−$634M
- Q3 202321 names$8.6B−$167M
- Q2 202317 names$9.3B−$640M
- Q1 202317 names$8.8B−$258M
- Q4 202218 names$7.7B+$1.3B
- Q3 202218 names$6.8B−$517M
- Q2 202219 names$7.3B+$14.9B
- Q1 202217 names$12.1B+$2.6B
- Q4 202117 names$13.8B+$13.2M
- Q3 202116 names$14.7B+$433M
- Q2 202117 names$14.3B+$7.1B
- Q1 202116 names$12.5B−$297M
- Q4 202015 names$13.2B−$495M
- Q3 202016 names$11.6B+$60.1M
- Q2 202016 names$9.8B−$724M
- Q1 202017 names$7.3B−$435M
- Q4 201916 names$8.1B+$97.4M
- Q3 201917 names$7.5B−$173M
- Q2 201916 names$8.0B+$80.2M
- Q1 201912 names$7.3B+$33.9M
- Q4 201810 names$5.7B−$268M
- Q3 201811 names$6.6B−$441M
- Q2 201812 names$6.3B−$181M
- Q1 201811 names$5.9B−$362M
- Q4 201711 names$5.2B+$48.2M
- Q3 201711 names$4.9B+$39.6M
- Q2 201711 names$4.4B−$64.0M
- Q1 201711 names$3.9B+$100M
- Q4 20168 names$3.2B−$227M
- Q3 20168 names$3.8B−$270M
- Q2 20168 names$3.9B—
What moved the book
The five software lines with the largest share change this quarter.
Software held
- MicrosoftMSFT2,865,638 shares · 17.3% of their software · price +$58.9M$1.5B−$44.3M
- ServiceNowNOW1,246,277 shares · 13.3% of their software · price −$134M$1.1B−$167M
- ShopifySHOP6,937,271 shares · 12.0% of their software · price +$231M$1.0B−$64.1M
- Block, Inc.XYZ11,603,057 shares · 9.7% of their software · price +$50.4M$839M+$85.7M
- CloudflareNET3,808,319 shares · 9.5% of their software · price +$71.4M$817M−$219M
- SamsaraIOT20,518,332 shares · 8.9% of their software · price −$51.9M$764M+$49.4M
- AppLovinAPP1,016,959 shares · 8.5% of their software · price +$375M$731M+$69.9M
- AtlassianTEAM2,641,730 shares · 4.9% of their software · price −$115M$422M+$10.8M
- DatadogDDOG1,894,680 shares · 3.1% of their software · price +$15.3M$270M−$118M
- OracleORCL936,043 shares · 3.1% of their software · price +$58.6M$263MNew · +$205M
- Roper Technologies, Inc.ROP351,775 shares · 2.0% of their software · price −$24.0M$175M+$13.6M
- Joint Stock Company Kaspi.kzKSPI1,644,240 shares · 1.6% of their software · price −$5.3M$134M−$3.2M
- SAPSAP440,270 shares · 1.4% of their software · price −$16.2M$118M+$45.9M
- CadenceCDNS331,887 shares · 1.4% of their software · price +$14.3M$117M+$7.3M
- Full Truck Alliance Co. Ltd.YMM6,766,855 shares · 1.0% of their software · price +$7.8M$87.8M−$1.9M
- Grab Holdings LimitedGRAB12,490,985 shares · 0.9% of their software · price +$12.4M$75.2M−$31.5M
- Palo Alto NetworksPANW194,619 shares · 0.5% of their software$39.6M+$8.1M
- KlaviyoKVYO1,105,559 shares · 0.4% of their software · price −$6.5M$30.6MFlat
- monday.comMNDY116,213 shares · 0.3% of their software · price −$14.0M$22.5MFlat
- DuolingoDUOL47,672 shares · 0.2% of their software · price −$4.2M$15.3MNew · +$19.5M
- Figma, Inc.FIG226,752 shares · 0.1% of their software$11.8MNew · +$11.8M
- GitLabGTLB127,475 shares · 0.1% of their software$5.7MFlat
- SnowflakeSNOW11,960 shares · 0.0% of their software$2.7MFlat