Insights into Sands Capital Management's Latest 13F Filings
Frank M. Sands, Jr., CFA, is at the helm of Sands Capital Management, steering the firm with a keen eye for exceptional growth businesses. With a rich background in investment research and a track record of robust results, Sands' latest 13F report for Q3 2023 offers a window into the strategic decisions shaping his portfolio. The firm, founded by his father in 1992, continues to thrive under his leadership, leveraging a philosophy that aligns stock prices with the earnings growth of underlying businesses.
New Additions to the Portfolio
Frank Sands (Trades, Portfolio) has expanded his portfolio with the addition of 3 new stocks:
- Meta Platforms Inc (META, Financial) leads the new entries with 1,956,686 shares, making up 1.74% of the portfolio and valued at $561.53 million.
- Ultragenyx Pharmaceutical Inc (RARE, Financial) follows with 2,673,638 shares, representing 0.38% of the portfolio, totaling $123.33 million.
- Stevanato Group SPA (STVN, Financial) rounds out the additions with 1,266,123 shares, accounting for 0.13% of the portfolio and valued at $40.99 million.
Key Position Increases
Sands also bolstered his stakes in 8 companies, with notable increases in:
- Microsoft Corp (MSFT, Financial), where an additional 2,160,221 shares were acquired, bringing the total to 3,808,703 shares. This move represents a 131.04% increase in share count and a 2.29% impact on the current portfolio, valued at $1.297 billion.
- NVIDIA Corp (NVDA, Financial) saw an addition of 1,185,420 shares, resulting in a total of 3,057,672 shares. This adjustment marks a 63.32% increase in share count, with a total value of $1.293 billion.
Exiting Positions
The third quarter also saw Sands completely divest from 3 holdings:
- Warner Music Group Corp (WMG, Financial) was entirely sold off, with 10,269,281 shares liquidated, impacting the portfolio by -1.13%.
- All 874,765 shares of Sarepta Therapeutics Inc (SRPT, Financial) were disposed of, affecting the portfolio by -0.4%.
Significant Reductions
Position reductions were made in 53 stocks, with the most substantial cuts in:
- Intuit Inc (INTU, Financial) saw a reduction of 992,649 shares, a -99.6% decrease, impacting the portfolio by -1.45%. The stock traded at an average price of $438.05 during the quarter.
- Shopify Inc (SHOP, Financial) shares were reduced by 7,294,302, a -30.85% decrease, affecting the portfolio by -1.15%. The stock's average trading price was $56.39 during the quarter.
Portfolio Overview
As of Q3 2023, Frank Sands (Trades, Portfolio)'s portfolio comprises 75 stocks, with top holdings including 6.07% in Visa Inc (V, Financial), 5.92% in Amazon.com Inc (AMZN, Financial), 5.23% in DexCom Inc (DXCM, Financial), 4.2% in Lam Research Corp (LRCX, Financial), and 4.08% in MercadoLibre Inc (MELI, Financial). The investments are primarily concentrated in the Technology sector, reflecting Sands' focus on innovative and rapidly growing businesses.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
