# Sands Capital Management, LLC

> Sands Capital Management, LLC is an SEC-registered investment advisory firm in Arlington, VA, registered since 2005, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated July 28, 2026.

- CRD: 137610
- Filed as: SANDS CAPITAL MANAGEMENT, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Arlington, VA
- Filing period: October 2026
- Form ADV filing dated: July 28, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/137610
- AdvisorCensus page: https://advisorcensus.com/firm/sands-capital-management-llc-arlington-va-137610

## Quick answers

**How is Sands Capital Management, LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Sands Capital Management, LLC reports these compensation arrangements: a percentage of assets under its management; performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Sands Capital Management, LLC located?**
Sands Capital Management, LLC's principal office is in Arlington, VA, according to its Form ADV; the August 2026 filing also lists 5 other offices (Schedule D, Section 1.F).

**Is Sands Capital Management, LLC registered with the SEC or a state?**
Sands Capital Management, LLC is an SEC-registered investment advisory firm, registered since 2005. Status as filed: Approved. CRD 137610.

**How much does Sands Capital Management, LLC manage?**
Sands Capital Management, LLC reports $44,304,791,445 in regulatory assets under management in its Form ADV filing dated July 28, 2026 (100% discretionary).

**How have Sands Capital Management, LLC's assets and staff changed since 2021?**
In the Form ADV data for Sands Capital Management, LLC: Regulatory assets under management: $68,621,833,356 in the October 2021 data and $44,304,791,445 in the October 2026 data, down 35%. Total employees: 134 in October 2021 and 182 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Sands Capital Management, LLC serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (55); corporations or other businesses not listed above (47); pooled investment vehicles (other than investment companies and business development companies) (40).

**Which custodians does Sands Capital Management, LLC use?**
Sands Capital Management, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists JP Morgan Chase Bank, National Association, Northern Trust Corporation, State Street Corporation and The Bank of New York Mellon Corporation as custodians holding 10% or more of its separately managed account assets.

**Does Sands Capital Management, LLC report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/137610

**What changed in Sands Capital Management, LLC's recent Form ADV filings?**
In the August 2026 filing data: Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Custodians (Schedule D, Section 5.K(3))
- JP Morgan Chase Bank, National Association
- Northern Trust Corporation
- State Street Corporation
- The Bank of New York Mellon Corporation

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $44,304,791,445
- Discretionary: $44,304,791,445
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 55 | $102,727,609 |
| High net worth individuals | 37 | $484,137,016 |
| Banking or thrift institutions | Fewer than 5 | $62,803,194 |
| Investment companies | 10 | $8,432,369,733 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 40 | $17,110,585,750 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 24 | $3,525,718,883 |
| Charitable organizations | 31 | $3,504,679,960 |
| State or municipal government entities (including government pension plans) | 16 | $5,867,657,983 |
| Other investment advisers | Fewer than 5 | $0 |
| Insurance companies | Fewer than 5 | $60,900,111 |
| Sovereign wealth funds and foreign official institutions | Fewer than 5 | $1,379,837,364 |
| Corporations or other businesses not listed above | 47 | $844,557,307 |
| Other | 9 | $2,928,816,535 |

### Advisory services (Item 5.G)
- Portfolio management for individuals and/or small businesses
- Portfolio management for investment companies (and business development companies)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients

### Firm details
- Registered since: 2005 (20 years)
- Employees: 182 total, 66 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VA, VI, VT, WA, WI, WV
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the August 2026 filing
- Fitzrovia London
- New York, NY
- San Francisco, CA
- San Juan, PR
- Singapore

### Websites listed on Form ADV (Item 1.I)
- sandscapital.com
- Facebook @sandscapital
- LinkedIn @sands-capital-management

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $68,621,833,356 | 134 | September 23, 2021 |
| October 2022 | $73,081,408,757 | 162 | March 31, 2022 |
| October 2023 | $38,906,541,054 | 181 | September 29, 2023 |
| October 2024 | $45,003,485,534 | 181 | July 9, 2024 |
| October 2025 | $45,180,826,186 | 177 | March 31, 2025 |
| October 2026 | $44,304,791,445 | 182 | July 28, 2026 |

Regulatory assets under management: $68,621,833,356 in the October 2021 data and $44,304,791,445 in the October 2026 data, down 35%.
Total employees: 134 in October 2021 and 182 in October 2026.

## Changes in the filing (last 12 months)

### August 2026
- Updated its list of owners and control persons (Schedule A).

### April 2026
- Employees performing advisory functions went from 64 to 66.
- Changed its office addresses in Fitzrovia London.
- Changed its office addresses in San Francisco, CA.
- No longer lists an office in Incline Village, NV.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Sands Capital Management, LLC (CRD 137610): Form ADV filing data as of October 2026.