Managers / Q1 2026
Sands Capital Alternatives, LLC
CIK 0001846444 · 1000 WILSON BOULEVARD, SUITE 3000, ARLINGTON, VA, 22209 · 703-562-4000
Summary
Sands Capital Alternatives, LLC reported $421M in U.S.-listed holdings across 21 positions for Q1 2026.
The portfolio is heavily concentrated: Nu alone accounts for 22.3% of reported value.
Compared with Q4 2025, the fund opened 1 new position and exited 0.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- Common Stock · 76.6% · $323M
- Other · 23.4% · $99M
Quarter-over-Quarter Changes full breakdown →
vs Q4 2025 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| SGPSPYGLASS PHARMA INC | NEW | +2.50M | 2.50M | +$65M | $65M |
| IOTSAMSARA INC | ADDED | +94.1K | 560.3K | +$1M | $18M |
| DASHDOORDASH INC | ADDED | +15.6K | 111.2K | −$5M | $17M |
| CPNGCOUPANG INC | ADDED | +141.7K | 1.01M | −$1M | $19M |
| ABOSACUMEN PHARMACEUTICALS INC | ADDED | +303.0K | 3.72M | +$2M | $9M |
| NU HLDGS LTD | HELD | −323.6K | 6.54M | −$21M | $94M |
| BBNXBETA BIONICS INC | HELD | +137.9K | 3.71M | −$72M | $37M |
| KVYOKLAVIYO INC | HELD | +0 | 3.65M | −$47M | $71M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2026
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $421M | 21 | May 8, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $518M | 20 | Feb 13, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $456M | 20 | Nov 13, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $508M | 19 | Aug 13, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $409M | 20 | May 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $460M | 21 | Feb 13, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $356M | 20 | Nov 13, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $299M | 20 | Aug 13, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $415M | 20 | May 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $359M | 21 | Feb 13, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $338M | 23 | Nov 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $338M | 21 | Aug 15, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | Under review | 23 | May 12, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | Under review | 24 | Feb 13, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $344M | 18 | Nov 9, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $364M | 19 | Aug 12, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $479M | 18 | May 13, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $675M | 16 | Jan 21, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $663M | 13 | Nov 12, 2021 | RESTATEMENT | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.