<SEC-DOCUMENT>0001567619-22-003336.txt : 20220211 <SEC-HEADER>0001567619-22-003336.hdr.sgml : 20220211 <ACCEPTANCE-DATETIME>20220211091523 ACCESSION NUMBER: 0001567619-22-003336 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20211231 FILED AS OF DATE: 20220211 DATE AS OF CHANGE: 20220211 EFFECTIVENESS DATE: 20220211 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SANDS CAPITAL MANAGEMENT, LLC CENTRAL INDEX KEY: 0001020066 IRS NUMBER: 202830751 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-05734 FILM NUMBER: 22617055 BUSINESS ADDRESS: STREET 1: SANDS CAPITAL MANAGEMENT, LLC STREET 2: 1000 WILSON BLVD, SUITE 3000 CITY: ARLINGTON STATE: VA ZIP: 22209 BUSINESS PHONE: 703-562-4000 MAIL ADDRESS: STREET 1: SANDS CAPITAL MANAGEMENT, LLC STREET 2: 1000 WILSON BLVD, SUITE 3000 CITY: ARLINGTON STATE: VA ZIP: 22209 FORMER COMPANY: FORMER CONFORMED NAME: SANDS CAPITAL MANAGEMENT, LP DATE OF NAME CHANGE: 20051024 FORMER COMPANY: FORMER CONFORMED NAME: SANDS CAPITAL MANAGEMENT DATE OF NAME CHANGE: 20050804 FORMER COMPANY: FORMER CONFORMED NAME: SANDS CAPITAL MANAGEMENT INC DATE OF NAME CHANGE: 19990317 </SEC-HEADER> <DOCUMENT> <TYPE>13F-HR <SEQUENCE>1 <FILENAME>primary_doc.xml <TEXT> <XML> <?xml version="1.0" encoding="UTF-8"?> <edgarSubmission xmlns="http://www.sec.gov/edgar/thirteenffiler" xmlns:com="http://www.sec.gov/edgar/common"> <headerData> <submissionType>13F-HR</submissionType> <filerInfo> <liveTestFlag>LIVE</liveTestFlag> <flags> <confirmingCopyFlag>false</confirmingCopyFlag> <returnCopyFlag>true</returnCopyFlag> <overrideInternetFlag>false</overrideInternetFlag> </flags> <filer> <credentials> <cik>0001020066</cik> <ccc>XXXXXXXX</ccc> </credentials> </filer> <periodOfReport>12-31-2021</periodOfReport> </filerInfo> </headerData> <formData> <coverPage> <reportCalendarOrQuarter>12-31-2021</reportCalendarOrQuarter> <filingManager> <name>SANDS CAPITAL MANAGEMENT, 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<infoTable> <nameOfIssuer>NU HLDGS LTD</nameOfIssuer> <titleOfClass>ORD SHS CL A</titleOfClass> <cusip>G6683N103</cusip> <value>141243</value> <shrsOrPrnAmt> <sshPrnamt>15057841</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>10797031</Sole> <Shared>0</Shared> <None>4260810</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>OKTA INC</nameOfIssuer> <titleOfClass>CL A</titleOfClass> <cusip>679295105</cusip> <value>585068</value> <shrsOrPrnAmt> <sshPrnamt>2609932</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>1764827</Sole> <Shared>0</Shared> <None>845105</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>OPENDOOR TECHNOLOGIES INC</nameOfIssuer> <titleOfClass>COM</titleOfClass> <cusip>683712103</cusip> <value>3058</value> <shrsOrPrnAmt> <sshPrnamt>209341</sshPrnamt> 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</infoTable> <infoTable> <nameOfIssuer>SANSARA INC</nameOfIssuer> <titleOfClass>COM CL A</titleOfClass> <cusip>79589L106</cusip> <value>38264</value> <shrsOrPrnAmt> <sshPrnamt>1361225</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>1361225</Sole> <Shared>0</Shared> <None>0</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>SAREPTA THERAPEUTICS INC</nameOfIssuer> <titleOfClass>COM</titleOfClass> <cusip>803607100</cusip> <value>483085</value> <shrsOrPrnAmt> <sshPrnamt>5364627</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>4068349</Sole> <Shared>0</Shared> <None>1296278</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>SEA LTD</nameOfIssuer> <titleOfClass>SPONSORED ADS</titleOfClass> <cusip>81141R100</cusip> <value>4062554</value> <shrsOrPrnAmt> <sshPrnamt>18159912</sshPrnamt> 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<infoTable> <nameOfIssuer>SNOWFLAKE INC</nameOfIssuer> <titleOfClass>CL A</titleOfClass> <cusip>833445109</cusip> <value>1463459</value> <shrsOrPrnAmt> <sshPrnamt>4320174</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>3091689</Sole> <Shared>0</Shared> <None>1228485</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>STERIS PLC</nameOfIssuer> <titleOfClass>SHS USD</titleOfClass> <cusip>G8473T100</cusip> <value>88651</value> <shrsOrPrnAmt> <sshPrnamt>364205</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>318580</Sole> <Shared>0</Shared> <None>45625</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>TAIWAN SEMICONDUCTOR MFG LTD</nameOfIssuer> <titleOfClass>SPONSORED ADS</titleOfClass> <cusip>874039100</cusip> <value>1185376</value> <shrsOrPrnAmt> <sshPrnamt>9852684</sshPrnamt> 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</infoTable> <infoTable> <nameOfIssuer>TRANSDIGM GROUP INC</nameOfIssuer> <titleOfClass>COM</titleOfClass> <cusip>893641100</cusip> <value>93930</value> <shrsOrPrnAmt> <sshPrnamt>147623</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>128965</Sole> <Shared>0</Shared> <None>18658</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>TWILIO INC</nameOfIssuer> <titleOfClass>CL A</titleOfClass> <cusip>90138F102</cusip> <value>1499649</value> <shrsOrPrnAmt> <sshPrnamt>5694725</sshPrnamt> <sshPrnamtType>SH</sshPrnamtType> </shrsOrPrnAmt> <investmentDiscretion>SOLE</investmentDiscretion> <votingAuthority> <Sole>4210261</Sole> <Shared>0</Shared> <None>1484464</None> </votingAuthority> </infoTable> <infoTable> <nameOfIssuer>UBER TECHNOLOGIES INC</nameOfIssuer> <titleOfClass>COM</titleOfClass> <cusip>90353T100</cusip> <value>883358</value> <shrsOrPrnAmt> <sshPrnamt>21067446</sshPrnamt> 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