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SANDS CAPITAL MANAGEMENT, LLC
> MSFT
| Date | Name | Ticker | Shares | Change | Value | Change | Price |
| 06/30/2023 | MICROSOFT CORP | MSFT | 3,808,703 | 2,160,221 | 1,297,015,720,000 | 821,758,359,000 | $340,540.00 |
| 03/31/2023 | MICROSOFT CORP | MSFT | 1,648,482 | 1,148,517 | 475,257,361,000 | 475,140,919,000 | $288,300.00 |
| 09/30/2022 | MICROSOFT CORP | MSFT | 499,965 | 57,638 | 116,442,000 | 2,839,000 | $232.90 |
| 06/30/2022 | MICROSOFT CORP | MSFT | 442,327 | -18,203 | 113,603,000 | -28,383,000 | $256.83 |
| 03/31/2022 | MICROSOFT CORP | MSFT | 460,530 | 29,681 | 141,986,000 | -2,917,000 | $308.31 |
| 12/31/2021 | MICROSOFT CORP | MSFT | 430,849 | -46,003 | 144,903,000 | 10,469,000 | $336.32 |
| 09/30/2021 | MICROSOFT CORP | MSFT | 476,852 | 4,267 | 134,434,000 | 6,411,000 | $281.92 |
| 06/30/2021 | MICROSOFT CORP | MSFT | 472,585 | 52,735 | 128,023,000 | 29,035,000 | $270.90 |
| 03/31/2021 | MICROSOFT CORP | MSFT | 419,850 | 63,131 | 98,988,000 | 19,647,000 | $235.77 |
| 12/31/2020 | MICROSOFT CORP | MSFT | 356,719 | -3,792,990 | 79,341,000 | -793,467,000 | $222.42 |
| 09/30/2020 | MICROSOFT CORP | MSFT | 4,149,709 | -339,554 | 872,808,000 | -40,802,000 | $210.33 |
| 06/30/2020 | MICROSOFT CORP | MSFT | 4,489,263 | -146,062 | 913,610,000 | 182,573,000 | $203.51 |
| 03/31/2020 | MICROSOFT CORP | MSFT | 4,635,325 | -232,087 | 731,037,000 | -36,554,000 | $157.71 |
| 12/31/2019 | MICROSOFT CORP | MSFT | 4,867,412 | 1,254,999 | 767,591,000 | 265,357,000 | $157.70 |
| 09/30/2019 | MICROSOFT CORP | MSFT | 3,612,413 | 3,387,139 | 502,234,000 | 472,056,000 | $139.03 |
| 06/30/2019 | MICROSOFT CORP | MSFT | 225,274 | 223,570 | 30,178,000 | 29,977,000 | $133.96 |
| 03/31/2019 | MICROSOFT CORP | MSFT | 1,704 | 1,704 | 201,000 | 201,000 | $117.96 |
| 09/30/2018 | MICROSOFT CORP | MSFT | 0 | -4,250 | 0 | -419,000 | |
| 06/30/2018 | MICROSOFT CORP | MSFT | 4,250 | 0 | 419,000 | 31,000 | $98.59 |
| 03/31/2018 | MICROSOFT CORP | MSFT | 4,250 | 0 | 388,000 | 24,000 | $91.29 |
| 12/31/2017 | MICROSOFT CORP | MSFT | 4,250 | 0 | 364,000 | 47,000 | $85.65 |
| 09/30/2017 | MICROSOFT CORP | MSFT | 4,250 | 0 | 317,000 | 24,000 | $74.59 |
| 06/30/2017 | MICROSOFT CORP | MSFT | 4,250 | 0 | 293,000 | 13,000 | $68.94 |
| 03/31/2017 | MICROSOFT CORP | MSFT | 4,250 | 0 | 280,000 | 16,000 | $65.88 |
| 12/31/2016 | MICROSOFT CORP | MSFT | 4,250 | 0 | 264,000 | 19,000 | $62.12 |
| 09/30/2016 | MICROSOFT CORP | MSFT | 4,250 | 0 | 245,000 | 28,000 | $57.65 |
| 06/30/2016 | MICROSOFT CORP | MSFT | 4,250 | 4,250 | 217,000 | 217,000 | $51.06 |
| 03/31/2016 | MICROSOFT CORP | MSFT | 4,250 | 0 | 235,000 | -1,000 | $55.29 |
| 12/31/2015 | MICROSOFT CORP | MSFT | 4,250 | 4,250 | 236,000 | 236,000 | $55.53 |
| 03/31/2015 | MICROSOFT CORP | MSFT | 0 | -4,400 | 0 | -204,000 | |
| 12/31/2014 | MICROSOFT CORP | MSFT | 4,400 | 4,400 | 204,000 | 204,000 | $46.36 |
| 09/30/2014 | MICROSOFT CORP | MSFT | 4,400 | 4,400 | 204,000 | 204,000 | $46.36 |
| 03/31/2009 | MICROSOFT CORP | MSFT | 0 | -12,900 | 0 | -251,000 | |
| 12/31/2008 | MICROSOFT CORP | MSFT | 12,900 | -8,500 | 251,000 | -320,000 | $19.46 |
| 09/30/2008 | MICROSOFT CORP | MSFT | 21,400 | -2,450 | 571,000 | -85,000 | $26.68 |
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