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Sands Capital Management

SEC-registered adviser since 2005Arlington, VACRD 137610

$44.3B
AUM
269
Clients
See fees
Fee
66
Advisory staff

From Form ADV filed 28 July 2026 · data retrieved 15 October 2026SEC record

Sands Capital Management is an investment adviser headquartered in Arlington, Virginia, and registered with the SEC since 2005. Its clients include pooled investment vehicles, investment companies and state or municipal government entities. High-net-worth individuals account for 1% of its regulatory assets under management.

Its services include portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles, and portfolio management for institutions. Fee arrangements include a percentage of assets under management and performance-based fees. Sands Capital Management, LP owns 75% or more of Sands Capital Management, and Frank Sands is its CEO.

Clients

Sands Capital Management serves 269 clients, 37 of them high-net-worth individuals. The average client has about $165 million with the firm, and high-net-worth clients hold 1% of its $44.3 billion in assets.

Regulatory assets by client type
  • Investment companies10 clients19%
  • Pooled investment vehicles40 clients39%
  • Pension and profit-sharing plans24 clients8%
  • Charitable organizations31 clients8%
  • State or municipal government entities16 clients13%
  • OtherSovereign wealth funds and foreign official institutions, Other, Individuals, High-net-worth individuals, Banking or thrift institutions, Insurance companies, Corporations and other businesses13%
Show client breakdown
Individuals (other than HNW)
Clients
55
Regulatory AUM
$102,727,609
Share
0.2%
Avg. per client
$1.87M
High-net-worth individuals
Clients
37
Regulatory AUM
$484,137,016
Share
1.1%
Avg. per client
$13.1M
Banking or thrift institutions
Clients
Not reported
Regulatory AUM
$62,803,194
Share
0.1%
Avg. per client
—
Investment companies
Clients
10
Regulatory AUM
$8,432,369,733
Share
19.0%
Avg. per client
$843.2M
Pooled investment vehicles
Clients
40
Regulatory AUM
$17,110,585,750
Share
38.6%
Avg. per client
$427.8M
Pension and profit-sharing plans
Clients
24
Regulatory AUM
$3,525,718,883
Share
8.0%
Avg. per client
$146.9M
Charitable organizations
Clients
31
Regulatory AUM
$3,504,679,960
Share
7.9%
Avg. per client
$113.1M
State or municipal government entities
Clients
16
Regulatory AUM
$5,867,657,983
Share
13.2%
Avg. per client
$366.7M
Insurance companies
Clients
Not reported
Regulatory AUM
$60,900,111
Share
0.1%
Avg. per client
—
Sovereign wealth funds and foreign official institutions
Clients
Not reported
Regulatory AUM
$1,379,837,364
Share
3.1%
Avg. per client
—
Corporations and other businesses
Clients
47
Regulatory AUM
$844,557,307
Share
1.9%
Avg. per client
$18.0M
Other
Clients
9
Regulatory AUM
$2,928,816,535
Share
6.6%
Avg. per client
$325.4M

Total

Clients
269
Regulatory AUM
$44,304,791,445
Share
100%
Avg. per client
$164.7M

What it does

Sands Capital Management provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles and portfolio management for institutions. It is paid through a percentage of assets and performance-based fees.

Sands Capital Management advises 2 private funds.

100.0% of assets ($44.30B across 274 accounts) are managed with discretion. 18% of clients are outside the U.S., and 21 clients received advice without assets under management last fiscal year.

What the accounts hold

Separately managed account assets by class, year end
  • Stocks98%
  • Cash2%

Custodians

Sands Capital Management’s client accounts are held mainly at Northern Trust, with 14% of managed assets, and State Street, with 8%. Sands Capital Management has custody of $1.06B for 1 clients.

Managed account assets by custodian
  • The Bank of New York MellonThe Bank of New York Mellon Corporation · New York City, NY · $3.25B7%
  • Northern TrustNorthern Trust Corporation · Chicago, IL · $6.27B14%
  • State StreetState Street Corporation · Boston, MA · $3.37B8%
  • J.P. MorganJP Morgan Chase Bank, National Association · Columbus, OH · $2.36B5%
  • All other custodians$29.05B66%

Ownership and leadership

Sands Capital Management, LP owns 75% or more of Sands Capital Management, and Frank Sands is its CEO.

Who owns the firm
Sands Capital Management, LLC· the adviser

  • Sands Capital Management, LP

    Control person · since September 2009

    Owns 75% or more of Sands Capital Management, LLC

Leadership

  • Frank Sands
    Chief Executive Officer, Chief Investment Officer
  • Thomas Williams
    President, Chief Investment Officer
  • Alexandra Fulk
    Chief Compliance Officer, Senior Counsel
  • Brian Christiansen
    Executive Managing Director, SR. Portfolio Manager, Research Analyst
  • Andrew Giordano
    Executive Managing Director, Business Development and Client Relations
  • Jonathan Goodman
    General Counsel and Secretary
  • Dana McNamara
    Executive Managing Director, Chief Administrative Officer
  • Stephen Nimmo
    Executive Managing Director, Business Development and Client Relations
  • Michael Raab
    Executive Managing Director, Director of Research, Portfolio Manager, SR. Research Analyst

Staff

  • 182 employees
  • 66 in advisory functions

Reported holdings

Sands Capital Management’s reported 13F holdings total $26.93B across 71 positions, and the ten largest make up 47.6% of it.

$26.93B
Reported 13F value
71
Positions
47.6%
In the 10 largest
+5.7%
Value vs. prior quarter
Ten largest positions, share of reported value
  1. Nvidia Corporation10.4%
  2. Taiwan Semiconductor Manufac · Sponsored ADS7.0%
  3. Alphabet Inc. · Cap Stk CL A6.5%
  4. Amazon Com Inc.4.3%
  5. ASML Hldg NV · N Y Registry Shs3.9%
  6. Bloom Energy Corp. · Com CL A3.3%
  7. Axon Enterprise Inc.3.1%
  8. Shopify Inc. · CL A Sub Vtg Shs3.1%
  9. Visa Inc. · Com CL A3.0%
  10. Spotify Technology S A3.0%

Together, the ten largest are 47.6% of reported value.

The 50 largest positions and quarterly changesQuarter ended 30 June 2026 · filed 13 August 2026

A 13F covers only exchange-traded long positions the firm holds with discretion, so this $26.93B is not its $44.30B in regulatory assets and does not represent any individual client's portfolio.

Fees

Sands Capital Management is paid through a percentage of assets under management and performance-based fees.

Sands Capital Management’s fee rates are not included in this profile. Find its brochure on the SEC’s site.

Offices and registrations

Besides its headquarters, Sands Capital Management has 5 offices, with 4 listed addresses across 4 states.

Listed office addresses by state

Virginia · 1 listed address

  • 1000 Wilson BLVD., Suite 3000, ArlingtonHQ

Registration details

Legal name
Sands Capital Management, LLC
Headquarters
1000 Wilson BLVD., Suite 3000, Arlington, VA 22209
Phone
703-562-4000
Website
www.sandscapital.com
SEC file
801-64820
Structure
Delaware LLC
Fiscal year end
December

This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov

Common questions

How many clients does Sands Capital Management have?

Sands Capital Management has 269 clients and manages $44.3 billion for them, as of July 2026. They include 55 other individuals, 47 corporations and other businesses and 40 pooled investment vehicles.

Source: Form ADV Part 1A, Items 5.D and 5.F, filed 28 July 2026

What services does Sands Capital Management offer?

Sands Capital Management provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles and portfolio management for institutions.

Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file

Which custodians does Sands Capital Management use?

Sands Capital Management’s separately managed account assets are held at Northern Trust Corporation (Chicago, IL), with $6,271,262,001, State Street Corporation (Boston, MA), with $3,366,349,556, The Bank of New York Mellon Corporation (New York City, NY), with $3,250,541,477 and JP Morgan Chase Bank, National Association (Columbus, OH), with $2,363,738,678. Only custodians holding at least a tenth of those assets are named.

Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 28 July 2026

How many financial advisors does Sands Capital Management have?

Sands Capital Management has 0 investment adviser representatives registered with state securities authorities, out of 182 employees, and 66 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.

Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file

What does Sands Capital Management invest in?

At the end of its last fiscal year, Sands Capital Management’s separately managed accounts held 98% exchange-traded equities and 2% cash and equivalents. It advises 2 private funds.

Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file

Who owns Sands Capital Management?

Sands Capital Management is owned through a chain of holding companies by Frank M. Sands, JR. Revocable Trust and X67fseni Trust. Its direct owner is Sands Capital Management, LP (75% or more).

Source: Form ADV Part 1A, Schedules A and B, filed 28 July 2026

How does Sands Capital Management get paid?

Sands Capital Management is paid through a percentage of assets under management and performance-based fees. Its Form ADV lists no commissions among how it is paid.

Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file

Sources

  1. Form ADV Part 1A, amendment filed 28 July 2026. Items 1, 5, 9, 11 and Schedules A, B and D.
  2. IAPD firm record, CRD 137610.
  3. Form 13F-HR, filed 13 August 2026 for the quarter ended 30 June 2026.

Retrieved 15 October 2026. All are published by the SEC and may have been amended since.

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This profile is compiled from public regulatory filings and is provided for informational purposes only. Niva Wealth is not affiliated with Sands Capital Management, LLC and makes no representation about the quality of its services. Figures reflect the filing dates shown and may have changed. Ownership percentages are the bands reported to the SEC, not exact figures.