Insights into Sands Capital Management's Latest Portfolio Adjustments
Frank M. Sands, Jr., CFA, the CEO and CIO of Sands Capital Management, has recently filed the firm's 13F for the second quarter of 2024. Under his leadership, the firm continues to focus on identifying exceptional growth businesses globally, a strategy rooted in the belief that stock prices ultimately reflect the earnings growth of the companies. Sands, who has been with the firm since 2000, emphasizes long-term investments in innovative and rapidly growing companies through their Select Growth and Global Growth strategies.
New Additions to the Portfolio
During the second quarter of 2024, Frank Sands (Trades, Portfolio) made a notable new addition to his portfolio:
- iShares Russell 1000 Growth ETF (IWF, Financial) with 6,500 shares, representing 0.01% of the portfolio and valued at $2.37 million.
Significant Increases in Existing Positions
Frank Sands (Trades, Portfolio) also strategically increased his stakes in several companies:
- Apple Inc (AAPL, Financial) saw an addition of 1,306,354 shares, bringing the total to 1,307,375 shares. This adjustment marks a significant 127,948.48% increase in share count, impacting the portfolio by 0.81% with a total value of $275.36 million.
- Samsara Inc (IOT, Financial) with an additional 6,038,941 shares, bringing the total to 7,612,221 shares. This represents a 383.84% increase in share count, valued at $256.53 million.
Complete Exits from Certain Holdings
Frank Sands (Trades, Portfolio) decided to exit completely from several positions in the second quarter of 2024:
- Steris PLC (STE, Financial): All 409,845 shares were sold, impacting the portfolio by -0.26%.
- Adobe Inc (ADBE, Financial): All 160 shares were liquidated, having a negligible impact on the portfolio.
Major Reductions in Key Holdings
Significant reductions were made in several stocks, including:
- CoStar Group Inc (CSGP, Financial) saw a reduction of 5,370,084 shares, a -99.9% decrease, impacting the portfolio by -1.45%. The stock traded at an average price of $84.75 during the quarter and has seen a -18.44% return over the past three months and -17.32% year-to-date.
- Visa Inc (V, Financial) was reduced by 944,029 shares, a -15.16% decrease, impacting the portfolio by -0.74%. The stock traded at an average price of $274.09 during the quarter and has returned -6.61% over the past three months and 0.41% year-to-date.
Portfolio Overview and Sector Allocation
As of the second quarter of 2024, Frank Sands (Trades, Portfolio)'s portfolio included 66 stocks. The top holdings were 9.12% in NVIDIA Corp (NVDA, Financial), 7.38% in Amazon.com Inc (AMZN, Financial), 5.93% in ASML Holding NV (ASML, Financial), 4.2% in Microsoft Corp (MSFT, Financial), and 4.07% in Visa Inc (V). The holdings are predominantly concentrated in six industries: Technology, Consumer Cyclical, Communication Services, Healthcare, Financial Services, and Industrials.
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.
