Sands Capital Alternatives, LLC

CIK 0001846444 · Q2 2026

13F Equity AUM

$613.5M

+45.7% QoQ

Positions

+3 QoQ

AUM Rank

#3,273

Top 37%

Skill Alpha (FF)

+1.4%/yr^ns

No Clear Edge

Rank #1,637 · Top 20%

vs S&P -16.1%/yr (unadj.)

Quarters Tracked

~5 years

Portfolio Concentration

Top 5: 62.3%Top 10: 80.8%Top 20: 97.8%

ALAMAR BIOSCIENCES INC18.7%

NU15.4%

KVYO9.7%

BBNX9.5%

SPYGLASS PHARMA INC9.1%

IKT4.3%

DASH3.8%

CPNG3.8%

DDOG3.4%

BIOA3.1%

Others (14)19.2%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Unclassified31.6%

Healthcare24.6%

Technology20.8%

Financial Services15.4%

Communication Services3.8%

Consumer Cyclical3.8%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 24Median: 2.70%Avg: 4.17%

0–0.5%

1(0.1%)

0.5–1%

5(4.0%)

1–3%

7(12.1%)

3–5%

6(21.5%)

5%+

5(62.3%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 24vs 20 funds

0%Low

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New3Increased10Decreased2Exited0

New Positions

ALAMAR BIOSCIENCES I…18.7%

+4.2M

ODYSSEY THERAPEUTICS…2.7%

+875K

CEREBRAS SYSTEMS INC1.2%

+33K

Increased

NU15.4%

+557K(+9%)

CPNG3.8%

+317K(+31%)

KVYO9.7%

+278K(+8%)

ACRV0.7%

+167K(+8%)

TOST1.6%

+63K(+21%)

TTAN1.3%

+19K(+21%)

DASH3.8%

+16K(+15%)

MNDY1.0%

+14K(+21%)

SNOW1.0%

+4K(+21%)

FIG0.1%

+4K(+21%)

Decreased

IOT2.7%

-44,629(-8%)

DDOG3.4%

-4,942(-6%)

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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