Sands Capital Ventures, LLC Long-Term Concentrated

CIK: 0001846444 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 13, 2026

Total Value ($000): $518,465 (100.0% shares, 0.0% debt)

Holdings (20)

New Positions (1)

TTAN SERVICETITAN INC 1.8%

Value ($000) $9,570 Shares 89,856 Est. Cost $97.68 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
TTAN	SERVICETITAN INC	89,856	$9,570	1.8%	$97.68	0.0%	SHS CL A	81764X103

Increased Positions (6)

KVYO KLAVIYO INC 22.9%

Value ($000) $118,505 (+21.8%) Shares 3,649,678 (+3.8%) Est. Cost $27.82 Unrealized +0.7%

IKT INHIBIKASE THERAPEUTICS INC 5.1%

Value ($000) $26,689 (+50.5%) Shares 13,018,965 (+18.9%) Est. Cost $2.35 Unrealized -32.3%

CPNG COUPANG INC 4.0%

Value ($000) $20,533 (-19.8%) Shares 870,424 (+9.5%) Est. Cost $24.80 Unrealized +14.7%

TOST TOAST INC 2.1%

Value ($000) $10,711 (+87.3%) Shares 301,647 (+92.6%) Est. Cost $35.42 Unrealized +1.8%

DASH DOORDASH INC 4.2%

Value ($000) $21,656 (-11.7%) Shares 95,618 (+6.1%) Est. Cost $193.76 Unrealized +21.1%

MNDY MONDAY COM LTD 1.9%

Value ($000) $10,015 (-11.4%) Shares 67,868 (+16.3%) Est. Cost $261.62 Unrealized -35.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
KVYO	KLAVIYO INC	3,649,678 (+3.8%)	$118,505 (+21.8%)	22.9%	$27.82	+0.7%	COM SER A	49845K101
IKT	INHIBIKASE THERAPEUTICS INC	13,018,965 (+18.9%)	$26,689 (+50.5%)	5.1%	$2.35	-32.3%	COM NEW	45719W205
CPNG	COUPANG INC	870,424 (+9.5%)	$20,533 (-19.8%)	4.0%	$24.80	+14.7%	CL A	22266T109
TOST	TOAST INC	301,647 (+92.6%)	$10,711 (+87.3%)	2.1%	$35.42	+1.8%	CL A	888787108
DASH	DOORDASH INC	95,618 (+6.1%)	$21,656 (-11.7%)	4.2%	$193.76	+21.1%	CL A	25809K105
MNDY	MONDAY COM LTD	67,868 (+16.3%)	$10,015 (-11.4%)	1.9%	$261.62	-35.6%	SHS	M7S64H106

Exited Positions (1)

CRWD CROWDSTRIKE HLDGS INC 1.5%

Value ($000) $7,657 Shares 15,615 Est. Cost $330.02 Unrealized +54.3%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CRWD	CROWDSTRIKE HLDGS INC	15,615	$7,657	1.5%	$330.02	+54.3%	—	22788C105

Decreased Positions (5)

IOT SAMSARA INC 3.2%

Value ($000) $16,526 (-25.9%) Shares 466,190 (-22.2%) Est. Cost $43.14 Unrealized -10.3%

DDOG DATADOG INC 2.3%

Value ($000) $11,667 (-31.0%) Shares 85,793 (-27.7%) Est. Cost $134.86 Unrealized +17.2%

TARS TARSUS PHARMACEUTICALS INC 1.3%

Value ($000) $6,960 (-31.1%) Shares 85,000 (-50.0%) Est. Cost $24.75 Unrealized +201.7%

SNOW SNOWFLAKE INC 0.9%

Value ($000) $4,443 (-27.1%) Shares 20,253 (-25.0%) Est. Cost $284.41 Unrealized -14.2%

NU NU HLDGS LTD 22.2%

Value ($000) $114,860 (-0.0%) Shares 6,861,399 (-4.4%) Est. Cost $10.60 Unrealized +51.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
IOT	SAMSARA INC	466,190 (-22.2%)	$16,526 (-25.9%)	3.2%	$43.14	-10.3%	COM CL A	79589L106
DDOG	DATADOG INC	85,793 (-27.7%)	$11,667 (-31.0%)	2.3%	$134.86	+17.2%	CL A COM	23804L103
TARS	TARSUS PHARMACEUTICALS INC	85,000 (-50.0%)	$6,960 (-31.1%)	1.3%	$24.75	+201.7%	COM	87650L103
SNOW	SNOWFLAKE INC	20,253 (-25.0%)	$4,443 (-27.1%)	0.9%	$284.41	-14.2%	COM SHS	833445109
NU	NU HLDGS LTD	6,861,399 (-4.4%)	$114,860 (-0.0%)	22.2%	$10.60	+51.6%	ORD SHS CL A	G6683N103

Unchanged Positions (8)

BBNX BETA BIONICS INC 21.0%

Value ($000) $108,781 Shares 3,570,113 Est. Cost $18.06 Unrealized +47.9%

BIOA BIOAGE LABS INC 2.0%

Value ($000) $10,403 Shares 786,353 Est. Cost $20.04 Unrealized -55.8%

TXG 10X GENOMICS INC 1.5%

Value ($000) $7,858 Shares 481,770 Est. Cost $51.88 Unrealized -70.9%

TSHA TAYSHA GENE THERAPIES INC 0.8%

Value ($000) $3,987 Shares 724,873 Est. Cost $19.01 Unrealized -74.5%

ABOS ACUMEN PHARMACEUTICALS INC 1.4%

Value ($000) $7,210 Shares 3,417,075 Est. Cost $16.64 Unrealized -88.1%

ACRV ACRIVON THERAPEUTICS INC 1.0%

Value ($000) $5,115 Shares 2,122,605 Est. Cost $11.67 Unrealized -81.4%

FIG FIGMA INC 0.1%

Value ($000) $683 Shares 18,286 Est. Cost $68.66 Unrealized -34.2%

CADL CANDEL THERAPEUTICS INC 0.4%

Value ($000) $2,293 Shares 405,837 Est. Cost $8.29 Unrealized -35.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BBNX	BETA BIONICS INC	3,570,113	$108,781	21.0%	$18.06	+47.9%	COM	08659B102
BIOA	BIOAGE LABS INC	786,353	$10,403	2.0%	$20.04	-55.8%	COM	09077V100
TXG	10X GENOMICS INC	481,770	$7,858	1.5%	$51.88	-70.9%	CL A COM	88025U109
TSHA	TAYSHA GENE THERAPIES INC	724,873	$3,987	0.8%	$19.01	-74.5%	COM SHS	877619106
ABOS	ACUMEN PHARMACEUTICALS INC	3,417,075	$7,210	1.4%	$16.64	-88.1%	COM	00509G209
ACRV	ACRIVON THERAPEUTICS INC	2,122,605	$5,115	1.0%	$11.67	-81.4%	COMMON STOCK	004890109
FIG	FIGMA INC	18,286	$683	0.1%	$68.66	-34.2%	CLASS A COM STK	316841105
CADL	CANDEL THERAPEUTICS INC	405,837	$2,293	0.4%	$8.29	-35.1%	COM	137404109