Frank Sands' Strategic Moves in Q1 2024: A Closer Look at DexCom Inc's Portfolio Impact

GuruFocus Research

14 May 2024 at 1:01 pm·3-min read

Insights into Sands Capital Management's Latest 13F Filing

Frank M. Sands, Jr., CFA, the CEO and CIO of Sands Capital Management, has a distinguished career in investment management, focusing on identifying high-quality growth companies globally. Founded by his father in 1992, Sands Capital has thrived under his leadership, emphasizing long-term investments in innovative and rapidly growing businesses. With a background that includes a BA from Washington & Lee University, an MS from Johns Hopkins, and an MBA from the Darden School at the University of Virginia, Frank Sands (Trades, Portfolio) brings a wealth of knowledge and experience to his investment decisions.

Warning! GuruFocus has detected 6 Warning Signs with NVDA.

Frank Sands' Strategic Moves in Q1 2024: A Closer Look at DexCom Inc's Portfolio Impact

Summary of New Buys

Frank Sands (Trades, Portfolio) strategically expanded his portfolio by adding four new stocks in the first quarter of 2024. The additions include:

Flutter Entertainment PLC (NYSE:FLUT), purchasing 2,072,134 shares, which now comprise 1.14% of the portfolio, valued at approximately $409.23 million.
Kaspi.kz JSC (NASDAQ:KSPI), with 1,648,137 shares, making up about 0.59% of the portfolio, valued at around $212.02 million.
Global E Online Ltd (NASDAQ:GLBE), acquiring 438,958 shares, representing 0.04% of the portfolio, with a total value of $15.96 million.

Key Position Increases

During the same period, Frank Sands (Trades, Portfolio) also increased his stakes in 20 existing holdings. Notable increases include:

ASML Holding NV (NASDAQ:ASML), with an additional 529,784 shares, bringing the total to 2,146,867 shares. This adjustment increased the share count by 32.76%, impacting the portfolio by 1.44%, with a total value of $2.08 billion.
Sea Ltd (NYSE:SE), adding 1,979,432 shares for a new total of 9,328,229 shares. This represents a 26.94% increase in share count, with a total value of $501.02 million.

Summary of Sold Out Positions

In a significant portfolio adjustment, Frank Sands (Trades, Portfolio) exited two positions entirely in the first quarter of 2024:

iShares Russell 1000 Growth ETF (IWF), selling all 58,588 shares, impacting the portfolio by -0.05%.
Aptiv PLC (NYSE:APTV), liquidating all 8,527 shares, with a negligible impact on the portfolio.

Key Position Reductions

Conversely, Frank Sands (Trades, Portfolio) reduced his holdings in 46 stocks. The most significant reductions were:

DexCom Inc (NASDAQ:DXCM), cutting down by 4,162,042 shares, a -27.64% decrease, impacting the portfolio by -1.57%. The stock traded at an average price of $125.7 during the quarter and has seen a 7.00% return over the past three months and 0.67% year-to-date.
Cloudflare Inc (NYSE:NET), reducing by 4,127,520 shares, a -38.96% decrease, impacting the portfolio by -1.04%. The stock traded at an average price of $90.55 during the quarter and has returned -29.77% over the past three months and -11.96% year-to-date.

Portfolio Overview

As of the first quarter of 2024, Frank Sands (Trades, Portfolio)'s portfolio included 76 stocks. The top holdings were 6.82% in NVIDIA Corp (NASDAQ:NVDA), 6.31% in Amazon.com Inc (NASDAQ:AMZN), 5.83% in ASML Holding NV (NASDAQ:ASML), 4.86% in Visa Inc (NYSE:V), and 4.23% in DexCom Inc (NASDAQ:DXCM). The holdings are predominantly concentrated in seven industries: Technology, Consumer Cyclical, Communication Services, Healthcare, Financial Services, Industrials, and Real Estate.

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.

This article first appeared on GuruFocus.

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