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SANDS CAPITAL MANAGEMENT, LLC

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13F filer, CIK 1020066, ARLINGTON, VA

SANDS CAPITAL MANAGEMENT, LLC reported $32,875,165,743 across 66 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-13. Its ten largest share positions make up 48.55% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001020066-26-000005

Period
2025-12-31
Reported value
$32.9B
Holdings
66
Top 10 weight
48.55%
New
6
Sold out
4

Largest buys vs the previous quarter

SecurityShares changeApprox. value
NFLXadded+8,902,430$835M
SHOPadded+2,568,765$413M
NOWadded+2,596,637$398M
CVNAadded+751,019$317M
APPadded+446,392$301M

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
TSMreduced-2,425,714-$737M
TEAMreduced-2,505,196-$406M
XYZreduced-5,673,174-$369M
DXCMexited-4,934,189-$332M
Vreduced-936,904-$329M

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 0001020066-26-000005, largest first. % of portfolio is the value over $32,875,165,743, 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; 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; 2025Q4: 20,043,571 shares 20,043,571$3.74B11.37%-785,256Timeline
TSMTAIWAN SEMICONDUCTOR MANUFACQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 6,826,175 shares 6,826,175$2.07B6.31%-2,425,714Timeline
AMZNAMAZON COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 7,440,012 shares 7,440,012$1.72B5.22%-973,987Timeline
GOOGLALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 4,939,049 shares 4,939,049$1.55B4.7%+167,952Timeline
SHOPSHOPIFY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 9,506,036 shares 9,506,036$1.53B4.65%+2,568,765Timeline
MSFTMICROSOFT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 2,470,769 shares 2,470,769$1.19B3.63%-394,869Timeline
VVISA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 3,090,129 shares 3,090,129$1.08B3.3%-936,904Timeline
CVNACARVANA COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 61,131 shares; 2025Q2: 901,227 shares; 2025Q3: 1,691,515 shares; 2025Q4: 2,442,534 shares 2,442,534$1.03B3.14%+751,019Timeline
MELIMERCADOLIBRE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 755,634 shares; 2024Q4: 668,506 shares; 2025Q1: 611,999 shares; 2025Q2: 513,532 shares; 2025Q3: 509,845 shares; 2025Q4: 509,645 shares 509,645$1.03B3.12%-200Timeline
DASHDOORDASH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 4,496,607 shares 4,496,607$1.02B3.1%+473,316Timeline
APPAPPLOVIN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 1,463,351 shares 1,463,351$986M3%+446,392Timeline
NFLXNETFLIX INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 10,023,088 shares 10,023,088$940M2.86%+8,902,430Timeline
AXONAXON ENTERPRISE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 1,609,436 shares 1,609,436$914M2.78%+167,095Timeline
ICEINTERCONTINENTAL EXCHANGE INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 5,502,896 shares 5,502,896$891M2.71%-174,370Timeline
SPOTSPOTIFY TECHNOLOGY S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 1,469,848 shares 1,469,848$854M2.6%-77,792Timeline
METAMETA PLATFORMS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 1,254,871 shares 1,254,871$828M2.52%-133,193Timeline
ISRGINTUITIVE SURGICAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 544,076 shares; 2025Q2: 757,570 shares; 2025Q3: 1,341,109 shares; 2025Q4: 1,376,958 shares 1,376,958$780M2.37%+35,849Timeline
NUNU HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 44,423,895 shares 44,423,895$744M2.26%-6,138,267Timeline
NETCLOUDFLARE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 3,731,287 shares 3,731,287$736M2.24%-77,032Timeline
AVGOBROADCOM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 2,114,521 shares 2,114,521$732M2.23%+53,897Timeline
ASMLASML HLDG NVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 669,985 shares 669,985$717M2.18%+140,821Timeline
SESEA LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 5,501,013 shares 5,501,013$702M2.13%+617,846Timeline
IOTSAMSARA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 19,123,318 shares 19,123,318$678M2.06%-1,395,014Timeline
NOWSERVICENOW INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 3,842,914 shares 3,842,914$589M1.79%+2,596,637Timeline
FLUTFLUTTER ENTMT PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 2,087,048 shares 2,087,048$449M1.37%-39,258Timeline
XYZBLOCK INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 5,929,883 shares 5,929,883$386M1.17%-5,673,174Timeline
CSLCARLISLE COS 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: 426,360 shares; 2025Q3: 849,501 shares; 2025Q4: 967,640 shares 967,640$310M0.94%+118,139Timeline
ONONON HLDG AGQuarterly 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: 4,614,347 shares; 2025Q3: 6,769,430 shares; 2025Q4: 6,635,050 shares 6,635,050$308M0.94%-134,380Timeline
IRTCIRHYTHM HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 1,699,645 shares 1,699,645$302M0.92%-536,465Timeline
ARGXARGENX SEQuarterly 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: 16,625 shares; 2025Q4: 356,870 shares 356,870$300M0.91%+340,245Timeline
BLDRBUILDERS FIRSTSOURCE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 2,757,969 shares 2,757,969$284M0.86%+327,067Timeline
RBLXROBLOX CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 3,183,399 shares 3,183,399$258M0.78%-293,089Timeline
PWRQUANTA SVCS 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: 576,896 shares 576,896$243M0.74%newTimeline
CPNGCOUPANG INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 10,319,665 shares 10,319,665$243M0.74%-704,512Timeline
TTEKTETRA TECH INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 7,007,004 shares 7,007,004$235M0.71%-172,028Timeline
HDBHDFC BANK LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 6,117,362 shares 6,117,362$224M0.68%-73,426Timeline
DDOGDATADOG INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 1,513,800 shares 1,513,800$206M0.63%-380,880Timeline
FWONKLIBERTY MEDIA CORP DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 2,082,513 shares 2,082,513$205M0.62%+67,886Timeline
CRSCARPENTER TECHNOLOGY CORPQuarterly 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: 621,684 shares 621,684$196M0.6%newTimeline
WCNWASTE CONNECTIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 965,880 shares 965,880$169M0.52%-217,314Timeline
KSPIKASPI KZ JSCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 1,948,761 shares 1,948,761$152M0.46%+304,521Timeline
MCKMCKESSON CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 91,750 shares; 2025Q2: 145,867 shares; 2025Q3: 157,146 shares; 2025Q4: 174,268 shares 174,268$143M0.43%+17,122Timeline
TDGTRANSDIGM GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 115,136 shares; 2024Q4: 86,405 shares; 2025Q1: 85,886 shares; 2025Q2: 86,900 shares; 2025Q3: 93,296 shares; 2025Q4: 103,179 shares 103,179$137M0.42%+9,883Timeline
ROPROPER TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 392,279 shares; 2024Q4: 325,962 shares; 2025Q1: 326,112 shares; 2025Q2: 327,846 shares; 2025Q3: 351,775 shares; 2025Q4: 287,318 shares 287,318$128M0.39%-64,457Timeline
APHAMPHENOL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 929,152 shares; 2025Q2: 940,121 shares; 2025Q3: 795,234 shares; 2025Q4: 879,004 shares 879,004$119M0.36%+83,770Timeline
RACEFERRARI N VQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 208,617 shares; 2024Q4: 248,314 shares; 2025Q1: 246,069 shares; 2025Q2: 243,717 shares; 2025Q3: 251,698 shares; 2025Q4: 309,983 shares 309,983$115M0.35%+58,285Timeline
SAPSAP SEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 223,032 shares; 2025Q2: 289,386 shares; 2025Q3: 440,270 shares; 2025Q4: 394,117 shares 394,117$95.7M0.29%-46,153Timeline
RAREULTRAGENYX PHARMACEUTICAL INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 3,485,724 shares 3,485,724$80.2M0.24%-284,129Timeline
CDNSCADENCE DESIGN SYSTEM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 249,702 shares; 2024Q4: 188,244 shares; 2025Q1: 304,719 shares; 2025Q2: 308,191 shares; 2025Q3: 331,887 shares; 2025Q4: 252,008 shares 252,008$78.8M0.24%-79,879Timeline
BSXBOSTON SCIENTIFIC CORPQuarterly 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: 805,164 shares 805,164$76.8M0.23%newTimeline
YMMFULL TRUCK ALLIANCE CO LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 6,123,768 shares 6,123,768$65.7M0.2%-643,087Timeline
AJGGALLAGHER ARTHUR J & COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 202,631 shares; 2025Q2: 1,121,249 shares; 2025Q3: 1,094,070 shares; 2025Q4: 244,255 shares 244,255$63.2M0.19%-849,815Timeline
GRABGRAB HOLDINGS LIMITEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 11,244,055 shares 11,244,055$56.1M0.17%-1,246,930Timeline
GLOBGLOBANT S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 770,560 shares 770,560$50.4M0.15%-77,702Timeline
KVYOKLAVIYO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 928,755 shares 928,755$30.2M0.09%-176,804Timeline
PANWPALO ALTO NETWORKS 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: 154,863 shares; 2025Q3: 194,619 shares; 2025Q4: 162,963 shares 162,963$30M0.09%-31,656Timeline
LINLINDE PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 89,643 shares; 2025Q1: 89,288 shares; 2025Q2: 86,662 shares; 2025Q3: 84,367 shares; 2025Q4: 59,214 shares 59,214$25.2M0.08%-25,153Timeline
TEAMATLASSIAN CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 136,534 shares 136,534$22.1M0.07%-2,505,196Timeline
STVNSTEVANATO GROUP S P AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 493,006 shares 493,006$9.92M0.03%+28,075Timeline
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: 226,752 shares; 2025Q4: 189,782 shares 189,782$7.09M0.02%-36,970Timeline
DUOLDUOLINGO 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: 47,672 shares; 2025Q4: 39,975 shares 39,975$7.02M0.02%-7,697Timeline
GTLBGITLAB INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 127,475 shares; 2024Q4: 127,475 shares; 2025Q1: 127,475 shares; 2025Q2: 127,475 shares; 2025Q3: 127,475 shares; 2025Q4: 127,475 shares 127,475$4.78M0.01%0Timeline
IWFISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,900 shares; 2024Q4: 16,228 shares; 2025Q1: 26,465 shares; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 8,215 shares 8,215$3.89M0.01%newTimeline
PLTRPALANTIR TECHNOLOGIES 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: 19,840 shares 19,840$3.53M0.01%newTimeline
SNOWSNOWFLAKE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 11,960 shares 11,960$2.62M0.01%0Timeline
BABAALIBABA GROUP HLDG LTDQuarterly 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: 7,511 shares 7,511$1.1M<0.01%newTimeline

Sold out in Q4 2025

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

SecurityShares beforeValue beforeType
DXCMDEXCOM INC4,934,189$332Mshares
ORCLORACLE CORP936,043$263Mshares
VGVENTURE GLOBAL INC7,484,070$106Mshares
MNDYMONDAY COM LTD116,213$22.5Mshares

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 0001020066-26-000005 base2026-02-13acceptance time not in the bulk data set