SANDS CAPITAL MANAGEMENT, LLC – investment adviser, $44.3B regulatory AUM (Form ADV)

Who they report serving

Form ADV · Item 5.D

Client types and their share of reported regulatory assets.

Client type	Clients	Regulatory assets	Share of AUM
Pooled investment vehicles	40	$17,110,585,750	38.6%
Investment companies	10	$8,432,369,733	19.0%
Government entities	16	$5,867,657,983	13.2%
Retirement plans	24	$3,525,718,883	8.0%
Charities	31	$3,504,679,960	7.9%
Other clients	9	$2,928,816,535	6.6%
Sovereign wealth & foreign institutions	Fewer than 5	$1,379,837,364	3.1%
Corporations & businesses	47	$844,557,307	1.9%
High-net-worth individuals	37	$484,137,016	1.1%
Individuals	55	$102,727,609	0.2%
Banks & thrifts	Fewer than 5	$62,803,194	0.1%
Insurance companies	Fewer than 5	$60,900,111	0.1%
Other investment advisers	Fewer than 5	$0	0.0%

Filing source

Form ADV 2118244 · Jul 28, 2026 · Item 5.D

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

Private funds & service providers

3 Private funds

The count excludes feeder funds. Funds in the latest filing appear first, ordered by reported gross assets. Earlier funds retain their last reported values.

SANDS CAPITAL EMERGING MARKETS GROWTH MASTER FUND, L.P.Other Private Fund · Last reported Jul 28, 2026$404MGross asset value

Feeder funds

SANDS CAPITAL EMERGING MARKETS GROWTH FEEDER FUND (DE), L.P.
SANDS CAPITAL EMERGING MARKETS GROWTH FEEDER FUND (CAYMAN), LIMITED

Fund administrator THE NORTHERN TRUST COMPANY CHICAGO, Illinois, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor PRICEWATERHOUSECOOPERS CAMANA BAY, GRAND CAYMAN, Cayman Islands

Custodian THE NORTHERN TRUST COMPANY CHICAGO, Illinois, United States Related to adviser: No

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

PRICEWATERHOUSECOOPERS
PCAOB 1266

THE NORTHERN TRUST COMPANY
LEI 549300GLF98S992BC502

Fund details & source

Fund ID: 805-7081229373
Reported beneficial owners: 45
Minimum commitment: $5M
Form D file number: 021-226383

Form ADV 2118244 · Jul 28, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

SANDS CAPITAL TEAM FUND, L.P.Other Private Fund · Last reported Jul 28, 2026$11.8MGross asset value

Form D fundraising filings

Sands Capital Team Fund, L.P.

Fund administrator SS&C TECHNOLOGIES, INC. WINDSOR, Connecticut, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor PRICEWATERHOUSECOOPERS CAMANA BAY, Cayman Islands

Custodian THE NORTHERN TRUST COMPANY CHICAGO, Illinois, United States Related to adviser: No

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

PRICEWATERHOUSECOOPERS
PCAOB 1266

THE NORTHERN TRUST COMPANY
LEI 549300GLF98S992BC502

Fund details & source

Fund ID: 805-1152333650
Reported beneficial owners: 20
Minimum commitment: $10K
Form D file number: 021-369599

Form ADV 2118244 · Jul 28, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

SANDS CAPITAL INTERNATIONAL GROWTH MASTER FUND, L.P.Other Private Fund · Last reported Aug 1, 2025$49.8KGross asset value

Feeder funds

SANDS CAPITAL INTERNATIONAL GROWTH FEEDER FUND (DE), L.P.

Fund administrator THE NORTHERN TRUST COMPANY CHICAGO, Illinois, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor PRICEWATERHOUSECOOPERS CAMANA BAY, GRAND CAYMAN, Cayman Islands

Custodian THE NORTHERN TRUST COMPANY CHICAGO, Illinois, United States Related to adviser: No

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

PRICEWATERHOUSECOOPERS
PCAOB 1266

THE NORTHERN TRUST COMPANY
LEI 549300GLF98S992BC502

Fund details & source

Fund ID: 805-5591132719
Reported beneficial owners: 0
Minimum commitment: $5M
Form D file number: 021-347236

Form ADV 2003593 · Aug 1, 2025 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

Services & filing details

Most recent filing: Jul 28, 2026. View historical filings

Reported services

Individual portfolio management · Investment company portfolio management · Pooled investment vehicle management · Business portfolio management

Compensation

Percentage of assets · Performance-based

Principal office

1000 WILSON BLVD., SUITE 3000
ARLINGTON, VA, 22209, United States

CRD 137610

Filing source

Form ADV 2118244 · Jul 28, 2026 · Items 1 & 5

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.