# Sands Capital Alternatives, LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1846444. Source: https://holderbook.com/funds/1846444-sands-capital-alternatives-llc/

- Reported value: $613.5M
- Positions: 24
- Weight of the ten largest: 80.8%
- Filed: 2026-08-13

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| ALAMAR BIOSCIENCES INC | [ALMR](https://holderbook.com/stocks/ALMR/) | $114.6M | 4,230,926 | 18.7% | 1 |
| NU HLDGS LTD | [NU](https://holderbook.com/stocks/NU/) | $94.8M | 7,094,952 | 15.4% | 19 |
| KLAVIYO INC | [KVYO](https://holderbook.com/stocks/KVYO/) | $59.3M | 3,928,146 | 9.7% | 12 |
| BETA BIONICS INC | [BBNX](https://holderbook.com/stocks/BBNX/) | $58.1M | 3,708,043 | 9.5% | 6 |
| SPYGLASS PHARMA INC | [SGP](https://holderbook.com/stocks/SGP/) | $55.7M | 2,500,012 | 9.1% | 2 |
| INHIBIKASE THERAPEUTICS INC | [IKT](https://holderbook.com/stocks/IKT/) | $26.4M | 13,018,965 | 4.3% | 7 |
| DOORDASH INC | [DASH](https://holderbook.com/stocks/DASH/) | $23.5M | 127,562 | 3.8% | 20 |
| COUPANG INC | [CPNG](https://holderbook.com/stocks/CPNG/) | $23.1M | 1,329,314 | 3.8% | 15 |
| DATADOG INC | [DDOG](https://holderbook.com/stocks/DDOG/) | $21.1M | 80,851 | 3.4% | 15 |
| BIOAGE LABS INC | [BIOA](https://holderbook.com/stocks/BIOA/) | $19.3M | 786,353 | 3.1% | 8 |
| 10X GENOMICS INC | [TXG](https://holderbook.com/stocks/TXG/) | $18.5M | 481,770 | 3.0% | 17 |
| SAMSARA INC | [IOT](https://holderbook.com/stocks/IOT/) | $16.7M | 515,658 | 2.7% | 19 |
| ODYSSEY THERAPEUTICS INC | [ODTX](https://holderbook.com/stocks/ODTX/) | $16.4M | 875,000 | 2.7% | 1 |
| TOAST INC | [TOST](https://holderbook.com/stocks/TOST/) | $10.2M | 364,879 | 1.7% | 15 |
| ACUMEN PHARMACEUTICALS INC | [ABOS](https://holderbook.com/stocks/ABOS/) | $9.9M | 3,720,105 | 1.6% | 20 |
| SERVICETITAN INC | [TTAN](https://holderbook.com/stocks/TTAN/) | $7.7M | 108,545 | 1.3% | 3 |
| CEREBRAS SYSTEMS INC | [CBRS](https://holderbook.com/stocks/CBRS/) | $7.3M | 32,825 | 1.2% | 1 |
| SNOWFLAKE INC | [SNOW](https://holderbook.com/stocks/SNOW/) | $6.2M | 24,498 | 1.0% | 20 |
| MONDAY COM LTD | [MNDY](https://holderbook.com/stocks/MNDY/) | $5.9M | 81,982 | 1.0% | 7 |
| TARSUS PHARMACEUTICALS INC | [TARS](https://holderbook.com/stocks/TARS/) | $5.3M | 85,000 | 0.9% | 20 |
| TAYSHA GENE THERAPIES INC | [TSHA](https://holderbook.com/stocks/TSHA/) | $4.9M | 724,873 | 0.8% | 20 |
| CANDEL THERAPEUTICS INC | [CADL](https://holderbook.com/stocks/CADL/) | $4.2M | 405,837 | 0.7% | 20 |
| ACRIVON THERAPEUTICS INC | [ACRV](https://holderbook.com/stocks/ACRV/) | $4.1M | 2,289,271 | 0.7% | 15 |
| FIGMA INC | [FIG](https://holderbook.com/stocks/FIG/) | $401.0K | 22,165 | 0.1% | 4 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +7.4% | +14.8% | -7.4% | 100% |
| Q1 2026 | -32.3% | -4.6% | -27.7% | 100% |
| Q4 2025 | +14.1% | +2.4% | +11.8% | 100% |
| Q3 2025 | +4.4% | +7.8% | -3.4% | 100% |
| Q2 2025 | +21.2% | +10.5% | +10.7% | 100% |
| Q1 2025 | -15.4% | -4.6% | -10.8% | 100% |
| Q4 2024 | -1.0% | +2.1% | -3.2% | 100% |
| Q3 2024 | +20.0% | +5.4% | +14.6% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $613.5M | 24 |
| Q1 2026 | $421.2M | 21 |
| Q4 2025 | $518.5M | 20 |
| Q3 2025 | $456.4M | 20 |
| Q2 2025 | $507.8M | 19 |
| Q1 2025 | $408.9M | 20 |
| Q4 2024 | $459.7M | 21 |
| Q3 2024 | $355.8M | 20 |
| Q2 2024 | $298.6M | 20 |
| Q1 2024 | $414.7M | 20 |
| Q4 2023 | $359.5M | 21 |
| Q3 2023 | $338.0M | 23 |