Acrivon Therapeutics, Inc. has a large shareholder group led by Sands Capital Life Sciences Pulse Fund II, L.P. and related entities that together report beneficial ownership of 2,289,271 shares of common stock, representing 5.3% of the company. The figure is based on 42,853,362 shares outstanding as of August 7, 2026, as referenced from Acrivon’s Form 10-Q. The reporting persons have shared voting and dispositive power over these shares and no sole voting or dispositive power. Investment management and control are structured through Sands Capital Alternatives, LLC and affiliated general partners, with Frank M. Sands holding ultimate voting and investment power over the securities held by the fund. Each reporting person and the Sands general partners state that they disclaim beneficial ownership of any securities beyond their pecuniary interest.
"Each Reporting Person and the Sands General Partners disclaim beneficial ownership of any securities"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
shared voting powerfinancial
"Shared Voting Power 2,289,271.00"
Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.
shared dispositive powerfinancial
"Shared Dispositive Power 2,289,271.00"
pecuniary interestfinancial
"disclaim beneficial ownership of any securities beyond its pecuniary interest therein"
investment managerfinancial
"Sands Capital Alternatives is the investment manager of Sands Pulse Fund II"
FAQ
What percentage of ACRV does Sands Capital report owning in this Schedule 13G/A?
The filing reports that Sands Capital-related entities beneficially own 5.3% of Acrivon Therapeutics’ common stock, based on 42,853,362 shares outstanding as of August 7, 2026, as referenced from the company’s Form 10-Q.
How many ACRV shares are beneficially owned by the Sands Capital reporting group?
The reporting persons state they beneficially own 2,289,271 shares of Acrivon Therapeutics common stock. They report shared voting and dispositive power over these shares and no sole voting or dispositive power.
Which entities are joint reporting persons in the ACRV Schedule 13G/A filing?
The joint reporting persons are Sands Capital Life Sciences Pulse Fund II, L.P., Sands Capital Alternatives, LLC, and Frank M. Sands, together with affiliated general partners that manage and control the fund’s holdings.
On what share count is the 5.3% ACRV ownership calculation based?
The reported 5.3% ownership is calculated using 42,853,362 Acrivon Therapeutics shares outstanding as of August 7, 2026, which the reporting persons cite from Acrivon’s Form 10-Q filed August 12, 2026.
Do the Sands Capital reporting persons claim full beneficial ownership of all ACRV shares?
No. Each reporting person and the Sands general partners disclaim beneficial ownership of any Acrivon Therapeutics securities beyond their pecuniary interest in those shares held by the fund.
Who has voting and investment power over the ACRV shares held by Sands Capital’s fund?
Sands Capital Alternatives, LLC is the investment manager to the fund, and Frank M. Sands holds ultimate voting and investment power over the Acrivon Therapeutics shares held by Sands Capital Life Sciences Pulse Fund II, L.P.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 4)
Acrivon Therapeutics, Inc.
(Name of Issuer)
Common Stock, par value $0.001 per share
(Title of Class of Securities)
004890109
(CUSIP Number)
06/30/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
004890109
1
Names of Reporting Persons
Sands Capital Life Sciences Pulse Fund II, L.P.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
CAYMAN ISLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
2,289,271.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
2,289,271.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,289,271.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
5.3 %
12
Type of Reporting Person (See Instructions)
PN
Comment for Type of Reporting Person: The percentages reported in this Schedule 13G are based upon 42,853,362 Shares outstanding as of August 7, 2026 (according to the Issuer's Form 10-Q as filed with the Securities and Exchange Commission on August 12, 2026).
SCHEDULE 13G
CUSIP Number(s):
004890109
1
Names of Reporting Persons
Sands Capital Alternatives, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
2,289,271.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
2,289,271.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,289,271.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
5.3 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: The percentages reported in this Schedule 13G are based upon 42,853,362 Shares outstanding as of August 7, 2026 (according to the Issuer's Form 10-Q as filed with the Securities and Exchange Commission on August 12, 2026).
SCHEDULE 13G
CUSIP Number(s):
004890109
1
Names of Reporting Persons
SANDS FRANK M.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
2,289,271.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
2,289,271.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,289,271.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
5.3 %
12
Type of Reporting Person (See Instructions)
IN, HC
Comment for Type of Reporting Person: The percentages reported in this Schedule 13G are based upon 42,853,362 Shares outstanding as of August 7, 2026 (according to the Issuer's Form 10-Q as filed with the Securities and Exchange Commission on August 12, 2026).
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Acrivon Therapeutics, Inc.
(b)
Address of issuer's principal executive offices:
480 ARSENAL WAY, SUITE 100, 480 ARSENAL WAY, SUITE 100, WATERTOWN, MASSACHUSETTS, 02472.
Item 2.
(a)
Name of person filing:
This Schedule 13G is being filed jointly by: (i) Sands Capital Life Sciences Pulse Fund II, L.P. ("Sands Pulse Fund II"), with respect to the shares of Common Stock held by it; (ii) Sands Capital Alternatives, LLC ("Sands Capital Alternatives"), the investment manager of Sands Pulse Fund II, with respect to the shares of common Stock held by Sands Pulse Fund II; and (iii) Frank M. Sands ("Sands"), with respect to the shares of Common Stock held by Sands Pulse Fund II. Sands Pulse Fund II, Sands Capital Alternatives and Sands are together referred to herein as the "Reporting Persons".
Sands Capital Life Sciences Pulse Fund II-GP, L.P. ("Sands Pulse GP LP") is the general partner of Sands Pulse Fund II. Sands Capital Life Sciences Pulse Fund-GP, LLC ("Sands Pulse GP LLC" and, together with Sands Pulse GP LP, the "Sands General Partners") is the general partner of Sands Pulse GP LP.
Sands Capital Alternatives is the investment manager of Sands Pulse Fund II and thus may be deemed to beneficially own the shares of Common Stock held by Sands Pulse Fund II. Sands holds ultimate voting and investment power over securities held by Sands Pulse Fund II, and thus may be deemed to beneficially own the shares of Common Stock held by Sands Pulse Fund II. Each Reporting Person and the Sands General Partners disclaim beneficial ownership of any securities beyond its pecuniary interest therein.
(b)
Address or principal business office or, if none, residence:
The principal business address of each of the Reporting Persons and the Sands General Partners is 1000 Wilson Blvd., Suite 3000, Arlington, VA 22209.
(c)
Citizenship:
Sands Pulse Fund II and Sands Pulse GP LP are organized under the laws of the Cayman Islands. Sands Capital Alternatives and Sands Pulse GP LLC are organized under the laws of Delaware. Sands is a citizen of the United States.
(d)
Title of class of securities:
Common Stock, par value $0.001 per share
(e)
CUSIP No.:
004890109
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
See rows 5 through 11 of cover pages.
(b)
Percent of class:
See rows 5 through 11 of cover pages.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
See rows 5 through 11 of cover pages.
(ii) Shared power to vote or to direct the vote:
See rows 5 through 11 of cover pages.
(iii) Sole power to dispose or to direct the disposition of:
See rows 5 through 11 of cover pages.
(iv) Shared power to dispose or to direct the disposition of:
See rows 5 through 11 of cover pages.
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Sands Capital Life Sciences Pulse Fund II, L.P.
Signature:
/s/ Jonathan Goodman
Name/Title:
Jonathan Goodman, General Counsel of the GP of the GP of Sands Capital Life Sciences Pulse Fund II, L.P.
Date:
08/13/2026
Sands Capital Alternatives, LLC
Signature:
/s/ Jonathan Goodman
Name/Title:
Jonathan Goodman, General Counsel
Date:
08/13/2026
SANDS FRANK M.
Signature:
/s/ Frank M. Sands
Name/Title:
Frank M. Sands
Date:
08/13/2026
Comments accompanying signature: Sands Capital Life Sciences Pulse Fund II, L.P. signed by Sands Capital Life Sciences Pulse Fund II-GP, L.P., its general partner, by Sands Capital Life Sciences Pulse Fund II-GP, LLC, its general partner, by Jonathan Goodman, General Counsel.
