Sands Capital, an investment management company, released its “Sands Capital Select Growth Fund” Q4 2024 investor letter. A copy of the same can be downloaded here. Select Growth primarily targets U.S. companies that are leading the way in crucial areas of positive structural transformation within the economy. The fund returned 8.8% (net) in the fourth quarter compared to 7.1% return for the benchmark, the Russell 1000 Growth Index. The fund returned 24.3% over the one year period compared to 33.4% 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 Growth Fund emphasized stocks such as Edwards Lifesciences Corporation (NYSE:EW). Edwards Lifesciences Corporation (NYSE:EW) offers products and technologies for structural heart disease and critical care monitoring. The one-month return of Edwards Lifesciences Corporation (NYSE:EW) was 1.54%, and its shares lost 23.15% of their value over the last 52 weeks. On March 31, 2025, Edwards Lifesciences Corporation (NYSE:EW) stock closed at $72.48 per share with a market capitalization of $42.456 billion.
Sands Capital Select Growth Fund stated the following regarding Edwards Lifesciences Corporation (NYSE:EW) in its Q4 2024 investor letter:
“We sold Edwards Lifesciences Corporation (NYSE:EW) in favor of higher-conviction opportunities. Over the course of 2024, shares of the business have been challenged by modestly weaker-than-expected growth in its core transcatheter aortic valve replacement product, which provides a minimally invasive approach to treating aortic stenosis. In our view, disappointing results reflect persistent hospital staffing challenges, a natural maturation in growth for the product, and normal quarter to-quarter variability. While we expect the business’ next-generation mitral and tricuspid valve products to eventually offset slowing growth in its core businesses, we chose to exit our position in favor of duration growth businesses for which we have greater earnings visibility and return expectations.”
A surgeon examining a cardiovascular diagnostic device in a hospital setting.
Edwards Lifesciences Corporation (NYSE:EW) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 67 hedge fund portfolios held Edwards Lifesciences Corporation (NYSE:EW) at the end of the fourth quarter compared to 55 in the third quarter. While we acknowledge the potential of Edwards Lifesciences Corporation (NYSE:EW) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
We covered Edwards Lifesciences Corporation (NYSE:EW) in another article, where we shared the list of stocks Jim Cramer put under a microscope. In addition, please check out our hedge fund investor letters Q4 2024 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.