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Sands Capital Alternatives, LLC

1000 WILSON BOULEVARD, SUITE 3000, ARLINGTON, VA 22209 • 703-562-4000

Q4 2025 · Filed 2026-02-13
Market Value
$492M
+12.1%
Holdings
20
+1
New Purchases
1
Added To
5
Closed
1
Reduced
5
Top 10 Concentration
90.2%
Turnover
10.0%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
BBNX 22.12% 16.17% +5.95% $109M
TTAN 1.95% 0.00% +1.95% $10M
KVYO 24.10% 22.19% +1.91% $119M
BIOA 2.12% 1.05% +1.06% $10M
TOST 2.18% 1.30% +0.87% $11M
TXG 1.60% 1.28% +0.31% $8M
TSHA 0.81% 0.54% +0.27% $4M
ACRV 1.04% 0.88% +0.16% $5M
ABOS 1.47% 1.33% +0.13% $7M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
NU 23.36% 26.19% -2.83% $115M
CRWD 0.00% 1.75% -1.75% $0
IOT 3.36% 5.09% -1.73% $17M
CPNG 4.18% 5.84% -1.66% $21M
DDOG 2.37% 3.85% -1.48% $12M
DASH 4.40% 5.59% -1.19% $22M
TARS 1.42% 2.30% -0.89% $7M
MNDY 2.04% 2.58% -0.54% $10M
SNOW 0.90% 1.39% -0.49% $4M
FIG 0.14% 0.22% -0.08% $683K
CADL 0.47% 0.47% -0.01% $2M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Healthcare 37.3%
Technology 30.2%
Financial Services 23.5%
Consumer Cyclical 4.8%
Communication Services 4.2%

Market Cap Concentration

TierHoldingsValueWeight
Large Cap 9 $201M 40.9%
Mid Cap 5 $153M 31.1%
Small Cap 4 $125M 25.5%
Micro Cap 2 $12M 2.5%

Portfolio Analytics

Avg Market Cap
$26.7B
Median Market Cap
$5.2B
Avg P/E
39.9
Median P/E
32.4
Avg Dividend Yield
—%
Avg Beta
1.10
# Stocks
20
# ETFs / Funds
0

Top Holdings (20 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 KVYO 24.10% 3,649,678 $119M $32.47 $21M +134,613 +3.8%
2 NU 23.36% 6,861,399 $115M $16.74 -$19K -314,035 -4.4%
3 BBNX 22.12% 3,570,113 $109M $30.47 $38M
4 DASH 4.40% 95,618 $22M $226.48 -$3M +5,476 +6.1%
5 CPNG 4.18% 870,424 $21M $23.59 -$5M +75,418 +9.5%
6 IOT 3.36% 466,190 $17M $35.45 -$6M -132,724 -22.2%
7 DDOG 2.37% 85,793 $12M $135.99 -$5M -32,914 -27.7%
8 TOST 2.18% 301,647 $11M $35.51 $5M +145,043 +92.6%
9 BIOA 2.12% 786,353 $10M $13.23 $6M
10 MNDY 2.04% 67,868 $10M $147.56 -$1M +9,532 +16.3%
11 TTAN 1.95% 89,856 $10M $106.50 +89,856 NEW
12 TXG 1.60% 481,770 $8M $16.31 $2M
13 ABOS 1.47% 3,417,075 $7M $2.11 $1M
14 TARS 1.42% 85,000 $7M $81.88 -$3M -85,000 -50.0%
15 ACRV 1.04% 2,122,605 $5M $2.41 $1M
16 SNOW 0.90% 20,253 $4M $219.36 -$2M -6,752 -25.0%
17 TSHA 0.81% 724,873 $4M $5.50 $2M
18 CADL 0.47% 405,837 $2M $5.65 $223K
19 FIG 0.14% 18,286 $683K $37.37 -$265K
20 CRWD —% -$8M -15,615 -100.0% SOLD

New Positions

SymbolValue% Port
TTAN $10M 1.95%

Sold Out Positions

SymbolValue% Port
CRWD —%
View SEC EDGAR Filings for Sands Capital Alternatives, LLC →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms