Sands Capital, an funding administration firm, launched its “Sands Capital Know-how Innovators Fund” Q1 2025 investor letter. A duplicate of the letter may be downloaded right here. Know-how Innovators give attention to pioneering companies worldwide that function key drivers or beneficiaries of serious long-term adjustments pushed by expertise. The fund returned -10.4% (internet) within the first quarter in comparison with a 9.4% return for the benchmark, MSCI ACWI Data Tech and Communication Providers Index. The selection of securities within the software program sector was the first issue negatively impacting relative efficiency. You possibly can verify the fund’s high 5 holdings to know extra about its finest picks for 2025.
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In its first-quarter 2025 investor letter, Sands Capital Know-how Innovators Fund highlighted shares corresponding to AppLovin Company (NASDAQ:APP). AppLovin Company (NASDAQ:APP) develops a software-based platform for advertisers to boost the advertising and marketing and monetization of their content material. The one-month return of AppLovin Company (NASDAQ:APP) was 41.44%, and its shares gained 354.06% of their worth during the last 52 weeks. On Could 27, 2025, the inventory of AppLovin Company (NASDAQ:APP) closed at $380.91 per share, with a market capitalization of $128.895 billion.
Sands Capital Know-how Innovators Fund said the next concerning AppLovin Company (NASDAQ:APP) in its Q1 2025 investor letter:
“AppLovin Company (NASDAQ:APP) is among the main suppliers of promoting options for cellular sport builders. Its inventory value decline stemmed from a broader selloff in high-beta shares, exacerbated by a number of quick reviews. These reviews allege app-install manipulation and improper knowledge attribution—claims we view as largely unfounded. AppLovin’s income is tied to purchases, not clicks, and its prospects use refined attribution instruments. Given the opaque nature of advert tech, we took added precautions in our due diligence, consulting advert fraud consultants and a forensic accountant. We see no new issues that alter our conviction and imagine the selloff has improved the long-term risk-reward in our favor.
