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Sands Capital, an investment management company, released its “Sands Capital Technology Innovators Fund” Q4 2024 investor letter. A copy of the same can be downloaded here. Technology Innovators focus on pioneering businesses worldwide that serve as key drivers or beneficiaries of significant long-term changes driven by technology. The fund returned 5.5% (net) in the fourth quarter compared to 4.4% return for the benchmark, MSCI ACWI Info Tech and Communication Services Index. The fund returned 37.7% over the one year period compared to 31.6 % return for the Index. You can check the fund’s top 5 holdings to know more about its best picks for 2024.
In its fourth quarter 2024 investor letter, Sands Capital Select Technology Innovators Fund emphasized stocks such as Monday.com Ltd. (NASDAQ:MNDY). Monday.com Ltd. (NASDAQ:MNDY) develops software applications and work management tools. The one-month return Monday.com Ltd. (NASDAQ:MNDY) was -6.43%, and its shares gained 21.72% of their value over the last 52 weeks. On April 1, 2025, Monday.com Ltd. (NASDAQ:MNDY) stock closed at $262.18 per share with a market capitalization of $13.312 billion.
Sands Capital Technology Innovators Fund stated the following regarding Monday.com Ltd. (NASDAQ:MNDY) in its Q4 2024 investor letter:
"Monday.com Ltd. (NASDAQ:MNDY) shares declined following the release of its third-quarter business results. Weakness in shares of the business can be attributed to momentum from a strong second quarter that did not carry through into the third quarter.