Sands Capital Alternatives, Llc
- Regulatory AUM
- $5.4B
- Discretionary
- $5.4B
- Clients
- 34
- Avg AUM / client
- $159M
- Accounts
- 37
- Employees
- 182
AUM over time
Annual snapshots from Form ADV filings · as of Jul 28, 2026
Investments (13F portfolio — 21 positions, $421,198,307)
13F period Mar 31, 2026| # | Issuer | Class | Value | Shares | % of 13F | % of AUM |
|---|---|---|---|---|---|---|
| 1 | Nu Hldgs Ltd | ORD SHS CL A | $93,947,741 | 6,537,769 | 22.3% | 1.74% |
| 2 | Klaviyo Inc | COM SER A | $71,022,734 | 3,649,678 | 16.9% | 1.31% |
| 3 | Spyglass Pharma Inc | COM SHS | $64,775,311 | 2,500,012 | 15.4% | 1.2% |
| 4 | Beta Bionics Inc | COM | $37,154,591 | 3,708,043 | 8.82% | 0.69% |
| 5 | Inhibikase Therapeutics Inc | COM NEW | $21,871,861 | 13,018,965 | 5.19% | 0.4% |
| 6 | Coupang Inc | CL A | $19,108,278 | 1,012,091 | 4.54% | 0.35% |
| 7 | Samsara Inc | COM CL A | $17,755,495 | 560,287 | 4.22% | 0.33% |
| 8 | Doordash Inc | CL A | $16,701,335 | 111,231 | 3.97% | 0.31% |
| 9 | Bioage Labs Inc | COM | $13,753,314 | 786,353 | 3.27% | 0.25% |
| 10 | 10 X Genomics Inc | CL A COM | $10,227,977 | 481,770 | 2.43% | 0.19% |
| 11 | Datadog Inc | CL A COM | $10,127,864 | 85,793 | 2.4% | 0.19% |
| 12 | Acumen Pharmaceuticals Inc | COM | $8,779,448 | 3,720,105 | 2.08% | 0.16% |
| 13 | Toast Inc | CL A | $7,996,662 | 301,647 | 1.9% | 0.15% |
| 14 | Tarsus Pharmaceuticals Inc | COM | $5,962,750 | 85,000 | 1.42% | 0.11% |
| 15 | Servicetitan Inc | SHS CL A | $5,702,262 | 89,856 | 1.35% | 0.11% |
| 16 | Monday Com Ltd | SHS | $4,690,357 | 67,868 | 1.11% | 0.09% |
| 17 | Taysha Gene Therapies Inc | COM SHS | $3,240,182 | 724,873 | 0.77% | 0.06% |
| 18 | Snowflake Inc | COM SHS | $3,054,557 | 20,253 | 0.73% | 0.06% |
| 19 | Acrivon Therapeutics Inc | COMMON STOCK | $2,950,421 | 2,122,605 | 0.7% | 0.05% |
| 20 | Candel Therapeutics Inc | COM | $1,988,601 | 405,837 | 0.47% | 0.04% |
| 21 | Figma Inc | CLASS A COM STK | $386,566 | 18,286 | 0.09% | 0.01% |
Top 25 of 21 positions from the manager's latest Form 13F · source filing (EDGAR) ↗. 13F covers long US-listed positions only. "% of AUM" is share of the firm's total regulatory AUM (Form ADV Item 5.F).
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Pooled investment vehicles (non-investment companies) | 34 | $5.2B | 97.0% |
| Pension and profit sharing plans | Fewer than 5 clients | $163M | 3.01% |
Private funds (26)
View all →Reported in Form ADV Section 7.B.(1), filing of Oct 2024 · $1.7B combined gross assets
People (5)
| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Sands, Frank, Melville | Manager | Dec 2004 (22y) | GP / trustee / elected manager of Sands Family Trust, Llc (indirect) | |
| Goodman, Jonathan, Paul | General Counsel And Secretary | Mar 2013 (13y) | Less than 5% | |
| Soule, Erin, Elizabeth | Managing Director, Head Of Private Markets Finance And Operations | Mar 2014 (12y) | Less than 5% | |
| Ratcliffe, Ian, W | Executive Managing Director, Executive Managing Partner | Mar 2018 (8y) | Less than 5% | |
| Fulk, Alexandra, Rebecca | Chief Compliance Officer, Senior Counsel | Mar 2022 (4y) | Less than 5% |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Sands Capital Management, Lp | Managing Member (Sole Member) | Oct 2010 | A | 75% or more |
| Sands Family Trust, Llc | Manager | Oct 2010 | A | Less than 5% |
| 2017 Eagle Holdings Llc | Member | Dec 2023 | B | ≈ 14.06% – 50% via X67 Fsfam, Llc |
| X67 Fshej Trust | Member | Dec 2023 | B | ≈ 0% – 3.75% via Sands Family Trust, Llc |
| X67 Fseni Trust | Member | Dec 2023 | B | ≈ 7.03% – 37.5% via 2017 Eagle Holdings Llc |
| Frank M. Sands, Jr. Revocable Trust | Member | Dec 2008 | B | ≈ 0% – 2.5% via Sands Family Trust, Llc |
| X67 Fsfam, Llc | Partner | Dec 2023 | B | ≈ 18.75% – 50% via Sands Capital Management, Lp |
| Sands Family Trust, Llc | General Partner | Sep 2009 | B | GP / trustee / elected manager of Sands Capital Management, Lp (indirect) |
| South Dakota Trust Company, Llc | Trustee | Dec 2023 | B | GP / trustee / elected manager of X67 Fshej Trust (indirect) |
Undisclosed: 0% – 25% of the firm is not attributable from the filed Schedule A bands.
Estimated effective ownership (look-through of filed bands):
- 2017 Eagle Holdings Llc: 75% – 100% of X67 Fsfam, Llc × 25% – 50% of Sands Capital Management, Lp × 75% – 100% direct ≈ 14.06% – 50% of the firm
- X67 Fshej Trust: 50% – 75% of Sands Family Trust, Llc × 0% – 5% direct ≈ 0% – 3.75% of the firm
- X67 Fseni Trust: 50% – 75% of 2017 Eagle Holdings Llc × 75% – 100% of X67 Fsfam, Llc × 25% – 50% of Sands Capital Management, Lp × 75% – 100% direct ≈ 7.03% – 37.5% of the firm
- Frank M. Sands, Jr. Revocable Trust: 25% – 50% of Sands Family Trust, Llc × 0% – 5% direct ≈ 0% – 2.5% of the firm
- X67 Fsfam, Llc: 25% – 50% of Sands Capital Management, Lp × 75% – 100% direct ≈ 18.75% – 50% of the firm
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Private funds (26, $1.7B gross assets)
Top 25 of 26 funds by gross assets · all funds
From Form ADV Section 7.B private fund reporting.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 03/30/2026 | 9.46 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
No disciplinary events reported on the firm's latest Form ADV filing.
How they charge
- • Percentage of assets under management
- • Performance-based fees
Services
- • Portfolio management for pooled investment vehicles
- • Portfolio management for businesses/institutional clients
Custody
Reported custodians
- BNY Mellon $107M (2% of AUM) Mar 2026
- Cibc Mellon Trust Company $56.0M (1% of AUM) Mar 2026
Amounts as reported in ADV Item 5.K.(3) (custodians holding 10%+ of SMA assets).
Firm reports having custody of client funds or securities (Item 9.A).
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Jul 28, 2026.
View current Form ADV (SEC/IAPD) ↗