CIK: 0001846444
Total reported value
$421.2M
Reporting period: 2026-03-31 · Number of holdings: 21
Sands Capital Alternatives, LLC disclosed 21 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $421.2M and a quarterly turnover rate of 51.9%.
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Sands Capital Alternatives, LLC's disclosed holdings carry a Herfindahl concentration index of 0.121 — mathematically equivalent to about 8 equally-sized positions, well below its 21 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.28), with a handful of outsized bets alongside many smaller positions.
Recent activity leans toward initiating meaningfully larger new positions than it adds to existing ones (a 8.6 percentage-point tilt) — a pattern consistent with a more contrarian, new-idea-driven approach.
Sector classification currently covers about 43% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Trim BBNX
+3.9% -$71.6M
Trim KVYO
0.0% -$47.5M
Add BIOA
0.0% $3.3M
Add IOT
+20.2% $1.2M
Add TXG
0.0% $2.4M
Trim MNDY
0.0% -$5.3M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | NU | Nu Holdings Ltd. | Stock-Financials | 22.30% | +0.15% | -4.72% | |
| 2 | KVYO | Klaviyo Inc-a | Stock-Other | 16.86% | -6.00% | — | |
| 3 | SGP | Spyglass Pharma INC | Stock-Other | 15.38% | +15.38% | NEW | |
| 4 | BBNX | Beta Bionics INC | Stock-Other | 8.82% | -12.16% | +3.86% | |
| 5 | IKT | Inhibikase Therapeutics INC | Stock-Other | 5.19% | +0.04% | — | |
| 6 | CPNG | Coupang INC | Stock-Consumer Disc | 4.54% | +0.58% | +16.28% | |
| 7 | IOT | Samsara Inc-cl A | Stock-Tech | 4.22% | +1.03% | +20.18% | |
| 8 | DASH | Doordash INC - A | Stock-Consumer Disc | 3.97% | -0.21% | +16.33% | |
| 9 | BIOA | Bioage Labs INC | Stock-Other | 3.27% | +1.26% | — | |
| 10 | TXG | 10x Genomics Inc-class A | Stock-Other | 2.43% | +0.91% | — | |
| 11 | DDOG | Datadog INC - Class A | Stock-Tech | 2.40% | +0.15% | — | |
| 12 | ABOS | Acumen Pharmaceuticals INC | Stock-Other | 2.08% | +0.69% | +8.87% | |
| 13 | TOST | Toast Inc-class A | Stock-Tech | 1.90% | -0.17% | — | |
| 14 | TARS | Tarsus Pharmaceuticals INC | Stock-Other | 1.42% | +0.08% | — | |
| 15 | TTAN | Servicetitan Inc-a | Stock-Tech | 1.35% | -0.50% | — | |
| 16 | MNDY | monday.com Ltd. | Stock-Tech | 1.11% | -0.82% | — | |
| 17 | TSHA | Taysha Gene Therapies INC | Stock-Other | 0.77% | — | — | |
| 18 | SNOW | Snowflake INC | Stock-Tech | 0.73% | -0.13% | — | |
| 19 | ACRV | Acrivon Therapeutics INC | Stock-Other | 0.70% | -0.29% | — | |
| 20 | CADL | Candel Therapeutics INC | Stock-Other | 0.47% | +0.03% | — | |
| 21 | FIG | Figma Inc-cl A | Stock-Other | 0.09% | -0.04% | — |
Performance for Q3 2026
+11.3%
Performance Last 4 Quarters
-4.1%
Based on 85% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 21 | $421.2M | 52 | |
| 2025-12-31 | 20 | $518.5M | 26 | |
| 2025-09-30 | 20 | $456.4M | 37 | |
| 2025-06-30 | 19 | $507.8M | 0 | |
| 2025-03-31 | 20 | $408.9M | 0 | |
| 2024-12-31 | 21 | $459.7M | 0 | |
| 2024-09-30 | 20 | $355.8M | 0 | |
| 2024-06-30 | 20 | $298.6M | 0 | |
| 2024-03-31 | 20 | $414.7M | 0 | |
| 2023-12-31 | 21 | $359.5M | 0 | |
| 2023-09-30 | 23 | $338.0M | 0 | |
| 2023-06-30 | 21 | $338.1M | 0 | |
| 2023-03-31 | 23 | $404.6M | 0 | |
| 2022-12-31 | 24 | $365.1M | 0 | |
| 2022-09-30 | 18 | $344.1M | 0 | |
| 2022-06-30 | 19 | $364.2M | 0 | |
| 2022-03-31 | 18 | $478.7M | 0 | |
| 2021-12-31 | 16 | $674.7M | 0 | |
| 2021-09-30 | 13 | $663.2M | 0 |
Sands Capital Alternatives, LLC's most significant position changes for 2026-03-31: New buy: Spyglass Pharma INC (SGP); Add: Beta Bionics INC (BBNX) — shares +3.86%; Add: Samsara Inc-cl A (IOT) — shares +20.18%; Add: Acumen Pharmaceuticals INC (ABOS) — shares +8.87%; Add: Coupang INC (CPNG) — shares +16.28%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | BIOA | Bioage Labs INC | +1.3% | — | Unchanged |
| 2 | IOT | Samsara Inc-cl A | +1% | +20.18% | Add |
| 3 | TXG | 10x Genomics Inc-class A | +0.9% | — | Unchanged |
| 4 | ABOS | Acumen Pharmaceuticals INC | +0.7% | +8.87% | Add |
| 5 | CPNG | Coupang INC | +0.6% | +16.28% | Add |
| 6 | NU | Nu Holdings Ltd. | +0.2% | -4.72% | Trim |
| 7 | DDOG | Datadog INC - Class A | +0.2% | — | Unchanged |
| 8 | TARS | Tarsus Pharmaceuticals INC | +0.1% | — | Unchanged |
| 9 | IKT | Inhibikase Therapeutics INC | 0% | — | Unchanged |
| 10 | CADL | Candel Therapeutics INC | 0% | — | Unchanged |
| 11 | TSHA | Taysha Gene Therapies INC | — | — | Unchanged |
| 12 | FIG | Figma Inc-cl A | 0% | — | Unchanged |
| 13 | SNOW | Snowflake INC | -0.1% | — | Unchanged |
| 14 | TOST | Toast Inc-class A | -0.2% | — | Unchanged |
| 15 | DASH | Doordash INC - A | -0.2% | +16.33% | Add |
| 16 | ACRV | Acrivon Therapeutics INC | -0.3% | — | Unchanged |
| 17 | TTAN | Servicetitan Inc-a | -0.5% | — | Unchanged |
| 18 | MNDY | monday.com Ltd. | -0.8% | — | Unchanged |
| 19 | KVYO | Klaviyo Inc-a | -6% | — | Unchanged |
| 20 | BBNX | Beta Bionics INC | -12.2% | +3.86% | Add |
| 21 | SGP | Spyglass Pharma INC | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-08 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-13 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-13 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-13 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-14 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-13 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-13 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-13 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-14 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-13 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-14 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-15 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-12 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-13 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-09 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-12 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-13 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-01-21 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-12 | Amendment | View on EDGAR |
| 2021-09-30 | 2021-11-04 | 13F-HR | View on EDGAR |
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