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SANDS CAPITAL MANAGEMENT, LLC

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13F filer, CIK 1020066, ARLINGTON, VA

SANDS CAPITAL MANAGEMENT, LLC reported $36,248,203,507 across 64 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-13. Its ten largest share positions make up 47.21% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001020066-25-000038

Period
2025-09-30
Reported value
$36.2B
Holdings
64
Top 10 weight
47.21%
New
4
Sold out
6

Largest buys vs the previous quarter

SecurityShares changeApprox. value
GOOGLadded+1,685,218$410M
CVNAadded+790,288$298M
ORCLnew+936,043$263M
ISRGadded+583,539$261M
TSMadded+699,611$195M

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
DXCMreduced-5,013,755-$337M
NETreduced-1,120,555-$240M
DASHreduced-768,890-$209M
AMZNreduced-816,024-$179M
RGENexited-1,251,088-$156M

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, Q3 2025

Share positions as resolved from 13F-HR 0001020066-25-000038, largest first. % of portfolio is the value over $36,248,203,507, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
NVDANVIDIA CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 23,055,228 shares; 2024Q4: 22,039,413 shares; 2025Q1: 19,926,183 shares; 2025Q2: 21,557,208 shares; 2025Q3: 20,828,827 shares 20,828,827$3.89B10.72%-728,381Timeline
TSMTAIWAN SEMICONDUCTOR MANUFACQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,683,522 shares; 2024Q4: 4,400,922 shares; 2025Q1: 8,027,318 shares; 2025Q2: 8,552,278 shares; 2025Q3: 9,251,889 shares 9,251,889$2.58B7.13%+699,611Timeline
AMZNAMAZON COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 12,550,445 shares; 2024Q4: 11,807,720 shares; 2025Q1: 11,094,543 shares; 2025Q2: 9,230,023 shares; 2025Q3: 8,413,999 shares 8,413,999$1.85B5.1%-816,024Timeline
MSFTMICROSOFT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,043,559 shares; 2024Q4: 2,803,908 shares; 2025Q1: 2,648,248 shares; 2025Q2: 2,954,745 shares; 2025Q3: 2,865,638 shares 2,865,638$1.48B4.09%-89,107Timeline
VVISA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,968,896 shares; 2024Q4: 4,548,250 shares; 2025Q1: 3,813,042 shares; 2025Q2: 4,030,104 shares; 2025Q3: 4,027,033 shares 4,027,033$1.37B3.79%-3,071Timeline
NFLXNETFLIX INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,559,983 shares; 2024Q4: 1,482,174 shares; 2025Q1: 1,467,474 shares; 2025Q2: 1,131,679 shares; 2025Q3: 1,120,658 shares 1,120,658$1.34B3.71%-11,021Timeline
MELIMERCADOLIBRE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 755,634 shares; 2024Q4: 668,506 shares; 2025Q1: 611,999 shares; 2025Q2: 513,532 shares; 2025Q3: 509,845 shares 509,845$1.19B3.29%-3,687Timeline
GOOGLALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,753,425 shares; 2024Q4: 3,619,415 shares; 2025Q1: 3,349,727 shares; 2025Q2: 3,085,879 shares; 2025Q3: 4,771,097 shares 4,771,097$1.16B3.2%+1,685,218Timeline
NOWSERVICENOW INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,183,745 shares; 2024Q4: 1,452,255 shares; 2025Q1: 1,457,978 shares; 2025Q2: 1,408,333 shares; 2025Q3: 1,246,277 shares 1,246,277$1.15B3.16%-162,056Timeline
DASHDOORDASH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,973,843 shares; 2024Q4: 5,891,970 shares; 2025Q1: 5,507,021 shares; 2025Q2: 4,792,181 shares; 2025Q3: 4,023,291 shares 4,023,291$1.09B3.02%-768,890Timeline
SPOTSPOTIFY TECHNOLOGY S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 998,374 shares; 2024Q4: 1,859,330 shares; 2025Q1: 1,788,550 shares; 2025Q2: 1,354,803 shares; 2025Q3: 1,547,640 shares 1,547,640$1.08B2.98%+192,837Timeline
AXONAXON ENTERPRISE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,110,343 shares; 2024Q4: 1,977,236 shares; 2025Q1: 1,899,822 shares; 2025Q2: 1,611,295 shares; 2025Q3: 1,442,341 shares 1,442,341$1.04B2.86%-168,954Timeline
SHOPSHOPIFY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 15,171,797 shares; 2024Q4: 13,778,939 shares; 2025Q1: 12,145,821 shares; 2025Q2: 7,492,615 shares; 2025Q3: 6,937,271 shares 6,937,271$1.03B2.84%-555,344Timeline
METAMETA PLATFORMS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,415,480 shares; 2024Q4: 1,331,896 shares; 2025Q1: 1,507,762 shares; 2025Q2: 1,306,041 shares; 2025Q3: 1,388,064 shares 1,388,064$1.02B2.81%+82,023Timeline
ICEINTERCONTINENTAL EXCHANGE INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,204,395 shares; 2024Q4: 2,744,278 shares; 2025Q1: 2,692,729 shares; 2025Q2: 5,313,039 shares; 2025Q3: 5,677,266 shares 5,677,266$957M2.64%+364,227Timeline
SESEA LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 8,340,858 shares; 2024Q4: 7,391,632 shares; 2025Q1: 6,817,994 shares; 2025Q2: 5,678,005 shares; 2025Q3: 4,883,167 shares 4,883,167$873M2.41%-794,838Timeline
XYZBLOCK INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 11,227,844 shares; 2024Q4: 10,339,834 shares; 2025Q1: 8,531,831 shares; 2025Q2: 10,340,740 shares; 2025Q3: 11,603,057 shares 11,603,057$839M2.31%+1,262,317Timeline
NETCLOUDFLARE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,344,384 shares; 2024Q4: 7,766,054 shares; 2025Q1: 6,427,446 shares; 2025Q2: 4,928,874 shares; 2025Q3: 3,808,319 shares 3,808,319$817M2.25%-1,120,555Timeline
NUNU HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 63,806,801 shares; 2024Q4: 57,989,285 shares; 2025Q1: 51,443,965 shares; 2025Q2: 54,504,428 shares; 2025Q3: 50,562,162 shares 50,562,162$810M2.23%-3,942,266Timeline
IOTSAMSARA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 8,215,737 shares; 2024Q4: 10,369,764 shares; 2025Q1: 16,443,161 shares; 2025Q2: 19,276,210 shares; 2025Q3: 20,518,332 shares 20,518,332$764M2.11%+1,242,122Timeline
APPAPPLOVIN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 826,394 shares; 2025Q1: 2,058,193 shares; 2025Q2: 817,346 shares; 2025Q3: 1,016,959 shares 1,016,959$731M2.02%+199,613Timeline
AVGOBROADCOM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,420,870 shares; 2025Q2: 1,843,327 shares; 2025Q3: 2,060,624 shares 2,060,624$680M1.88%+217,297Timeline
CVNACARVANA COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 61,131 shares; 2025Q2: 901,227 shares; 2025Q3: 1,691,515 shares 1,691,515$638M1.76%+790,288Timeline
ISRGINTUITIVE SURGICAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 544,076 shares; 2025Q2: 757,570 shares; 2025Q3: 1,341,109 shares 1,341,109$600M1.65%+583,539Timeline
FLUTFLUTTER ENTMT PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,035,122 shares; 2024Q4: 2,310,697 shares; 2025Q1: 2,195,271 shares; 2025Q2: 2,121,637 shares; 2025Q3: 2,126,306 shares 2,126,306$540M1.49%+4,669Timeline
ASMLASML HLDG NVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,924,736 shares; 2024Q4: 1,785,776 shares; 2025Q1: 557,428 shares; 2025Q2: 530,562 shares; 2025Q3: 529,164 shares 529,164$512M1.41%-1,398Timeline
RBLXROBLOX CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,416,618 shares; 2024Q4: 4,215,531 shares; 2025Q1: 4,006,330 shares; 2025Q2: 3,586,543 shares; 2025Q3: 3,476,488 shares 3,476,488$482M1.33%-110,055Timeline
TEAMATLASSIAN CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,249,725 shares; 2024Q4: 4,520,175 shares; 2025Q1: 3,918,588 shares; 2025Q2: 2,588,723 shares; 2025Q3: 2,641,730 shares 2,641,730$422M1.16%+53,007Timeline
IRTCIRHYTHM HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,122,891 shares; 2024Q4: 3,176,702 shares; 2025Q1: 3,016,207 shares; 2025Q2: 2,915,527 shares; 2025Q3: 2,236,110 shares 2,236,110$385M1.06%-679,417Timeline
CPNGCOUPANG INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 13,085,536 shares; 2024Q4: 13,052,550 shares; 2025Q1: 12,080,484 shares; 2025Q2: 11,999,721 shares; 2025Q3: 11,024,177 shares 11,024,177$355M0.98%-975,544Timeline
AJGGALLAGHER ARTHUR J & COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 202,631 shares; 2025Q2: 1,121,249 shares; 2025Q3: 1,094,070 shares 1,094,070$339M0.93%-27,179Timeline
DXCMDEXCOM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,319,198 shares; 2024Q4: 11,109,501 shares; 2025Q1: 10,414,156 shares; 2025Q2: 9,947,944 shares; 2025Q3: 4,934,189 shares 4,934,189$332M0.92%-5,013,755Timeline
BLDRBUILDERS FIRSTSOURCE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,051,544 shares; 2025Q2: 1,016,773 shares; 2025Q3: 2,430,902 shares 2,430,902$295M0.81%+1,414,129Timeline
ONONON HLDG AGQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 4,614,347 shares; 2025Q3: 6,769,430 shares 6,769,430$287M0.79%+2,155,083Timeline
CSLCARLISLE COS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 426,360 shares; 2025Q3: 849,501 shares 849,501$279M0.77%+423,141Timeline
DDOGDATADOG INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,270,951 shares; 2024Q4: 3,526,424 shares; 2025Q1: 2,915,476 shares; 2025Q2: 2,772,015 shares; 2025Q3: 1,894,680 shares 1,894,680$270M0.74%-877,335Timeline
ORCLORACLE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 936,043 shares 936,043$263M0.73%newTimeline
TTEKTETRA TECH INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 4,338,203 shares; 2025Q1: 4,110,736 shares; 2025Q2: 5,200,335 shares; 2025Q3: 7,179,032 shares 7,179,032$240M0.66%+1,978,697Timeline
HDBHDFC BANK LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,891,413 shares; 2024Q4: 2,876,252 shares; 2025Q1: 2,911,190 shares; 2025Q2: 2,883,335 shares; 2025Q3: 6,190,788 shares 6,190,788$211M0.58%+3,307,453Timeline
FWONKLIBERTY MEDIA CORP DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,536,806 shares; 2024Q4: 2,504,064 shares; 2025Q1: 1,919,229 shares; 2025Q2: 1,911,033 shares; 2025Q3: 2,014,627 shares 2,014,627$210M0.58%+103,594Timeline
WCNWASTE CONNECTIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 444,710 shares; 2024Q4: 596,885 shares; 2025Q1: 1,108,404 shares; 2025Q2: 1,120,082 shares; 2025Q3: 1,183,194 shares 1,183,194$208M0.57%+63,112Timeline
ROPROPER TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 392,279 shares; 2024Q4: 325,962 shares; 2025Q1: 326,112 shares; 2025Q2: 327,846 shares; 2025Q3: 351,775 shares 351,775$175M0.48%+23,929Timeline
KSPIKASPI KZ JSCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,478,214 shares; 2024Q4: 1,441,486 shares; 2025Q1: 1,311,457 shares; 2025Q2: 1,682,013 shares; 2025Q3: 1,644,240 shares 1,644,240$134M0.37%-37,773Timeline
TDGTRANSDIGM GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 115,136 shares; 2024Q4: 86,405 shares; 2025Q1: 85,886 shares; 2025Q2: 86,900 shares; 2025Q3: 93,296 shares 93,296$123M0.34%+6,396Timeline
RACEFERRARI N VQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 208,617 shares; 2024Q4: 248,314 shares; 2025Q1: 246,069 shares; 2025Q2: 243,717 shares; 2025Q3: 251,698 shares 251,698$122M0.34%+7,981Timeline
MCKMCKESSON CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 91,750 shares; 2025Q2: 145,867 shares; 2025Q3: 157,146 shares 157,146$121M0.33%+11,279Timeline
SAPSAP SEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 223,032 shares; 2025Q2: 289,386 shares; 2025Q3: 440,270 shares 440,270$118M0.32%+150,884Timeline
CDNSCADENCE DESIGN SYSTEM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 249,702 shares; 2024Q4: 188,244 shares; 2025Q1: 304,719 shares; 2025Q2: 308,191 shares; 2025Q3: 331,887 shares 331,887$117M0.32%+23,696Timeline
RAREULTRAGENYX PHARMACEUTICAL INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,118,255 shares; 2024Q4: 4,298,003 shares; 2025Q1: 4,163,561 shares; 2025Q2: 3,943,485 shares; 2025Q3: 3,769,853 shares 3,769,853$113M0.31%-173,632Timeline
VGVENTURE GLOBAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 8,532,908 shares; 2025Q2: 7,854,539 shares; 2025Q3: 7,484,070 shares 7,484,070$106M0.29%-370,469Timeline
APHAMPHENOL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 929,152 shares; 2025Q2: 940,121 shares; 2025Q3: 795,234 shares 795,234$98.4M0.27%-144,887Timeline
YMMFULL TRUCK ALLIANCE CO LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 6,158,039 shares; 2025Q1: 10,250,292 shares; 2025Q2: 6,926,596 shares; 2025Q3: 6,766,855 shares 6,766,855$87.8M0.24%-159,741Timeline
GRABGRAB HOLDINGS LIMITEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 21,974,504 shares; 2024Q4: 21,377,711 shares; 2025Q1: 19,477,077 shares; 2025Q2: 18,757,824 shares; 2025Q3: 12,490,985 shares 12,490,985$75.2M0.21%-6,266,839Timeline
GLOBGLOBANT S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,021,824 shares; 2024Q4: 991,370 shares; 2025Q1: 902,535 shares; 2025Q2: 869,376 shares; 2025Q3: 848,262 shares 848,262$48.7M0.13%-21,114Timeline
LINLINDE PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 89,643 shares; 2025Q1: 89,288 shares; 2025Q2: 86,662 shares; 2025Q3: 84,367 shares 84,367$40.1M0.11%-2,295Timeline
PANWPALO ALTO NETWORKS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 154,863 shares; 2025Q3: 194,619 shares 194,619$39.6M0.11%+39,756Timeline
KVYOKLAVIYO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,428,170 shares; 2024Q4: 1,237,540 shares; 2025Q1: 972,749 shares; 2025Q2: 1,109,069 shares; 2025Q3: 1,105,559 shares 1,105,559$30.6M0.08%-3,510Timeline
MNDYMONDAY COM LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 87,458 shares; 2025Q1: 115,041 shares; 2025Q2: 116,591 shares; 2025Q3: 116,213 shares 116,213$22.5M0.06%-378Timeline
DUOLDUOLINGO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 47,672 shares 47,672$15.3M0.04%newTimeline
ARGXARGENX SEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 16,625 shares 16,625$12.3M0.03%newTimeline
STVNSTEVANATO GROUP S P AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,717,079 shares; 2024Q4: 500,685 shares; 2025Q1: 485,476 shares; 2025Q2: 464,635 shares; 2025Q3: 464,931 shares 464,931$12M0.03%+296Timeline
FIGFIGMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 226,752 shares 226,752$11.8M0.03%newTimeline
GTLBGITLAB INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 127,475 shares; 2024Q4: 127,475 shares; 2025Q1: 127,475 shares; 2025Q2: 127,475 shares; 2025Q3: 127,475 shares 127,475$5.75M0.02%0Timeline
SNOWSNOWFLAKE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,027,836 shares; 2024Q4: 2,917,641 shares; 2025Q1: 596,443 shares; 2025Q2: 11,960 shares; 2025Q3: 11,960 shares 11,960$2.7M0.01%0Timeline

Sold out in Q3 2025

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

SecurityShares beforeValue beforeType
RGENREPLIGEN CORP1,251,088$156Mshares
GOOGALPHABET INC603,385$107Mshares
CHTRCHARTER COMMUNICATIONS INC242,432$99.1Mshares
OKTAOKTA INC300,517$30Mshares
CRWDCROWDSTRIKE HLDGS INC45,021$22.9Mshares
ICLRICON PUB LTD CO91,550$13.3Mshares

How Q3 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 0001020066-25-000038 base2025-11-13acceptance time not in the bulk data set