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Sands Capital Alternatives, LLC

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13F filer, CIK 1846444, ARLINGTON, VA

Sands Capital Alternatives, LLC reported $518,465,381 across 20 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-13. Its ten largest share positions make up 88.79% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001846444-26-000003

Period
2025-12-31
Reported value
$518M
Holdings
20
Top 10 weight
88.79%
New
1
Sold out
1

Largest buys vs the previous quarter

SecurityShares changeApprox. value
TTANnew+89,856$9.57M
TOSTadded+145,043$5.15M
KVYOadded+134,613$4.37M
IKTadded+2,068,965$4.24M
CPNGadded+75,418$1.78M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
CRWDexited-15,615-$7.66M
TARSreduced-85,000-$6.96M
NUreduced-314,035-$5.26M
IOTreduced-132,724-$4.71M
DDOGreduced-32,914-$4.48M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q4 2025

Share positions as resolved from 13F-HR 0001846444-26-000003, largest first. % of portfolio is the value over $518,465,381, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
KVYOKLAVIYO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,515,325 shares; 2024Q4: 3,470,694 shares; 2025Q1: 3,443,515 shares; 2025Q2: 3,515,065 shares; 2025Q3: 3,515,065 shares; 2025Q4: 3,649,678 shares 3,649,678$119M22.86%+134,613Timeline
NUNU HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,498,802 shares; 2024Q4: 7,021,159 shares; 2025Q1: 7,164,355 shares; 2025Q2: 7,175,434 shares; 2025Q3: 7,175,434 shares; 2025Q4: 6,861,399 shares 6,861,399$115M22.15%-314,035Timeline
BBNXBETA BIONICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 3,103,782 shares; 2025Q2: 3,570,113 shares; 2025Q3: 3,570,113 shares; 2025Q4: 3,570,113 shares 3,570,113$109M20.98%0Timeline
IKTINHIBIKASE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 10,950,000 shares; 2025Q1: 10,950,000 shares; 2025Q2: 10,950,000 shares; 2025Q3: 10,950,000 shares; 2025Q4: 13,018,965 shares 13,018,965$26.7M5.15%+2,068,965Timeline
DASHDOORDASH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 423,338 shares; 2024Q4: 407,343 shares; 2025Q1: 380,704 shares; 2025Q2: 381,202 shares; 2025Q3: 90,142 shares; 2025Q4: 95,618 shares 95,618$21.7M4.18%+5,476Timeline
CPNGCOUPANG INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 11,931 shares; 2024Q4: 924,712 shares; 2025Q1: 843,476 shares; 2025Q2: 849,031 shares; 2025Q3: 795,006 shares; 2025Q4: 870,424 shares 870,424$20.5M3.96%+75,418Timeline
IOTSAMSARA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,172 shares; 2024Q4: 198,690 shares; 2025Q1: 253,432 shares; 2025Q2: 438,485 shares; 2025Q3: 598,914 shares; 2025Q4: 466,190 shares 466,190$16.5M3.19%-132,724Timeline
DDOGDATADOG INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,406 shares; 2024Q4: 97,788 shares; 2025Q1: 117,930 shares; 2025Q2: 118,707 shares; 2025Q3: 118,707 shares; 2025Q4: 85,793 shares 85,793$11.7M2.25%-32,914Timeline
TOSTTOAST INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,453 shares; 2024Q4: 231,530 shares; 2025Q1: 210,611 shares; 2025Q2: 156,604 shares; 2025Q3: 156,604 shares; 2025Q4: 301,647 shares 301,647$10.7M2.07%+145,043Timeline
BIOABIOAGE LABS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,086,353 shares; 2024Q4: 786,353 shares; 2025Q1: 786,353 shares; 2025Q2: 786,353 shares; 2025Q3: 786,353 shares; 2025Q4: 786,353 shares 786,353$10.4M2.01%0Timeline
MNDYMONDAY COM LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 48,278 shares; 2025Q1: 49,908 shares; 2025Q2: 58,336 shares; 2025Q3: 58,336 shares; 2025Q4: 67,868 shares 67,868$10M1.93%+9,532Timeline
TTANSERVICETITAN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 89,856 shares 89,856$9.57M1.85%newTimeline
TXG10X GENOMICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 481,770 shares; 2024Q4: 481,770 shares; 2025Q1: 481,770 shares; 2025Q2: 481,770 shares; 2025Q3: 481,770 shares; 2025Q4: 481,770 shares 481,770$7.86M1.52%0Timeline
ABOSACUMEN PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,417,075 shares; 2024Q4: 3,417,075 shares; 2025Q1: 3,417,075 shares; 2025Q2: 3,417,075 shares; 2025Q3: 3,417,075 shares; 2025Q4: 3,417,075 shares 3,417,075$7.21M1.39%0Timeline
TARSTARSUS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 170,000 shares; 2024Q4: 170,000 shares; 2025Q1: 170,000 shares; 2025Q2: 170,000 shares; 2025Q3: 170,000 shares; 2025Q4: 85,000 shares 85,000$6.96M1.34%-85,000Timeline
ACRVACRIVON THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,122,605 shares; 2024Q4: 2,122,605 shares; 2025Q1: 2,122,605 shares; 2025Q2: 2,122,605 shares; 2025Q3: 2,122,605 shares; 2025Q4: 2,122,605 shares 2,122,605$5.12M0.99%0Timeline
SNOWSNOWFLAKE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 108,304 shares; 2024Q4: 39,007 shares; 2025Q1: 26,828 shares; 2025Q2: 27,005 shares; 2025Q3: 27,005 shares; 2025Q4: 20,253 shares 20,253$4.44M0.86%-6,752Timeline
TSHATAYSHA GENE THERAPIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 724,873 shares; 2024Q4: 724,873 shares; 2025Q1: 724,873 shares; 2025Q2: 724,873 shares; 2025Q3: 724,873 shares; 2025Q4: 724,873 shares 724,873$3.99M0.77%0Timeline
CADLCANDEL THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 405,837 shares; 2024Q4: 405,837 shares; 2025Q1: 405,837 shares; 2025Q2: 405,837 shares; 2025Q3: 405,837 shares; 2025Q4: 405,837 shares 405,837$2.29M0.44%0Timeline
FIGFIGMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 18,286 shares; 2025Q4: 18,286 shares 18,286$683K0.13%0Timeline

Sold out in Q4 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
CRWDCROWDSTRIKE HLDGS INC15,615$7.66Mshares

How Q4 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001846444-26-000003 base2026-02-13acceptance time not in the bulk data set