What We Think
What We Think
To invest differently, we first have to think differently. Every day we set out to imagine the future and the companies that will create it. Through our insights, we hope to elevate the thinking about the trends that we believe will shape the world of tomorrow.
To invest differently, we first have to think differently.
Every day we set out to imagine the future and the companies that will create it. Through our insights, we hope to elevate the thinking about the trends that we believe will shape the world of tomorrow.
Investment Strategy
Moving from Disruption to Opportunity
As we approach the end of 2024, we are excited about the transformative trends that are opening new opportunities for our portfolio businesses and the markets they serve.
Investment Strategy
Assessing Power Constraints for AI
Power constraints represent a notable but addressable challenge for the continued growth of artificial
intelligence. While deficits are likely to emerge, our research indicates they should remain manageable through 2027.
Business Perspectives
Episode 1: Samsara
In this episode of What Matters Most, we explore Samsara’s innovative approach to data collection and visualization. Learn about the company’s rapid growth, market potential, and competitive advantages — as well as what international expansion could mean for the business.
Investment Strategy
International Equities: The Elephant in The Room
As allocators increasingly overweight U.S. equities, we remind them that some of the best growth businesses lie outside the United States. These businesses provide differentiated growth potential, and can also help mitigate downside risk within a diversified portfolio.
Investment Strategy
Positioning Investments in an Uncertain Election Environment
History suggests that markets trend upward regardless of who’s in the White House and who controls Congress. That said, given today’s geopolitical, economic, and social crosscurrents, we believe that selectivity will become increasingly important.
Investment Strategy
Decoding Software’s Future
The combination of software and the move to cloud computing remains one of the largest secular growth trends we see, which is driving increased demand for scalable, cloud-based solutions across every sector of the economy.
Business Perspectives
Bringing Governance to AI
Navrina Singh and Credo AI are helping organizations build AI responsibly, by providing an AI governance software platform to ensure technology is fair, compliant, safe, secure, auditable, and human centered.
Investment Culture
Fostering Long-term Thinking
Executive Managing Director and Senior Portfolio Manager Brian Christiansen discusses the importance of candor, collaboration, and entrepreneurialism in creating a culture that promotes long-term thinking.
Investment Strategy
Insights Gained from Past Downturns
Sands Capital portfolio managers reflect on five powerful lessons they have learned while investing through past downturns.
Impact
Nubank Transforming the Industry, One Market at a Time
Nu Holdings’ Nubank focuses on driving financial inclusion among underbanked populations who lack sufficient access to mainstream financial services and products, including access to common banking services, such as credit cards or loans.
Investment Strategy
Gen AI: Hype or Megatrend?
Generative artificial intelligence has been gaining traction across industries, powering an explosive demand for computing power and systems that could enable new use cases for businesses, schools, consumers, and society in general.
Investment Strategy
Quality Is Not Just a Factor
To us, the concept of quality is linked to a company's ability to increase its market share at the expense of competitors, to sell ever more value-adding goods and services, and to expand its leadership in attractive business spaces through innovation and disruption.
Business Perspectives
Episode 11: Titan
In this episode of What Matters Most, we delve into the world of Titan, India’s leading jewelry and watch retailer, with Sr. Research Analyst Massimo Marolo. Explore the cultural significance of gold in India, the dynamics of the fragmented jewelry market, and Titan’s advantages as a trusted, vertically integrated brand.
Investment Strategy
Thirty Years of Growth Investing: Assessing the Past and Looking Forward
Equity markets have witnessed significant gains and shifts, including rising market concentration. Learn how this evolving landscape fosters an environment conducive to Select Growth's high conviction and long-term approach.
Investment Strategy
Examining the Governance Risks of AI
The broad adoption of generative artificial intelligence could be one of the greatest changes of our lifetime. The risks and unintended consequences that could accompany that widespread use as become a key focus of our stewardship efforts when engaging with our portfolio businesses.
Investment Strategy
What’s Next for Gen AI
We are in the early stages of the most significant paradigm shift of our lifetime. Listen to Sands Capital Sr. Portfolio Manager Thomas Trentman, CFA, discuss the opportunities generative AI has created and where it could take us in decades to come.
Business Perspectives
Episode 10: Flutter
Discover how Flutter is leveraging technology, regulatory changes, and a deep understanding of customer behavior to redefine the betting experience in this podcast episode. From the intricacies of in-game betting to the challenges of responsible gambling, this episode offers a compelling glimpse into the high-stakes world of online betting.
Investment Culture
Instilling a Long-term Focus
At Sands Capital we encourage our investment team to think in decades not quarters. Tune in as Director of Research Michael Raab, CFA discusses how culture can support the visionary research needed to find businesses creating the future.
Investment Strategy
An Earnings-powered Recovery
Markets may not fully appreciate what we see as the significant improvements many of our portfolio businesses have made to their underlying fundamentals.
Business Perspectives
Episode 9: Kaspi
In this episode of What Matters Most, uncover the distinct challenges and prospects of operating and investing in Kazakhstan, a geopolitically intriguing emerging market, and learn how Kaspi is revolutionizing the financial sector, boosting consumer interaction as it cleverly layers its platform, and hoping to accelerate the future of digital finance.
Investment Strategy
Delivering Value to the Modern Consumer
Consumer spending is a huge part of the global economy, and we’ve found that businesses that can harness the power of the internet to put their products in front of millions of customers at once have an edge. Research Analyst Katherine Okon explains why she favors those companies that combine digital and physical operations.
Investment Strategy
EM Still Works
Selective active managers should still be able to find value in emerging markets by looking beyond the MSCI Emerging Markets Index. Discover why headwinds that have pressured the asset class are likely to abate.
Business Perspectives
Episode 8: Cadence
In this episode of What Matters Most, Sr. Research Analyst Daniel Pilling takes us on a deep dive into the world of Cadence, the leading software provider in the semiconductor industry. From the evolution of semiconductor design to the potential of generative artificial intelligence (AI), we explore the intricate processes and challenges in chip design.
Investment Strategy
Following the Fundamentals Through Volatile Times
As we continue to emerge from one of the most difficult periods in our history, we are encouraged by the results of our investment strategies. In 2023, we delivered by sticking with our time-tested investment strategy, following our process, doing our research, and executing.
Investment Strategy
Investment Opportunities in Cybersecurity
For 2024, we have identified eight cyber security trends that most excite us. Read how Sands Capital Ventures Partner Mark McGovern and Principal Chris Eng drew on learnings from key developments across the sector to create their vision for the year ahead.
Investment Strategy
Beyond Distortion and Doubt
Change can create uncertainty in financial markets, but it also has the potential to unlock opportunities for many of the businesses we own. Tune in to hear Sr. Portfolio Manager Dave Levanson, CFA discuss the on-going journey of these businesses, why we continued to own them through tough times, and what we can expect from them going forward.
Business Perspectives
Episode 7: Globant
Pure-play businesses have become a staple investment for Sands Capital. Discover the story behind Globant, a growing leader in IT Services, whose more than 1,500 Fortune 500 and Fortune 2000 clients rely on it to deliver cutting edge technologies and customized solutions for even their loftiest technology goals.
Investment Strategy
EM Isn't Broken
Senior Portfolio Manager Brian Christiansen discusses what should we expect going forward from emerging markets and why active management matters.
Business Perspectives
Episode 6: Axon Enterprises
Its mission is simple: protect life, preserve truth, and accelerate justice. As Axon Enterprises innovates to try to achieve that goal, its solutions are rapidly becoming the industry standard. Listen as we discuss the business’ journey from Taser maker to artificial intelligence-powered software developer.
Business Perspectives
The Hidden Player in the Semiconductor Boom
You’ll find semiconductors in just about every device with a plug, a power button or a battery. In this Season 2 episode of What Matters Most, Sands Capital technology analyst Daniel Pilling explains why Entegris, a critical player in the global semiconductor industry, is seeing rapid growth as the demand for AI and machine learning intensifies.
Business Perspectives
An Automation Leader Poised for Growth
Nearly every factory has room for more automation, with greater penetration in existing industries and expansion into new industries expected over the next decade. In this Season 1 podcast, portfolio managers Sunil Thakor and Danielle Menichella discuss Keyence, a likely beneficiary of that growth.
Investment Strategy
Assessing the New AI Paradigm
Businesses that provide the building blocks for generative AI or are able to harness its power to provide better products and services should be the beneficiaries of this first wave of the artificial intelligence revolution.
Investment Strategy
Investing in the Face of Climate Change
As long-term stewards of capital, we believe it is critical that businesses, investors, and capital allocators factor climate change into their long-term strategies as they would any other environmental, social, or governance issue.
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Category
Investment Strategy
Moving from Disruption to Opportunity
As we approach the end of 2024, we are excited about the transformative trends that are opening new opportunities for our portfolio businesses and the markets they serve.
Investment Strategy
Assessing Power Constraints for AI
Power constraints represent a notable but addressable challenge for the continued growth of artificial
intelligence. While deficits are likely to emerge, our research indicates they should remain manageable through 2027.
Investment Strategy
International Equities: The Elephant in The Room
As allocators increasingly overweight U.S. equities, we remind them that some of the best growth businesses lie outside the United States. These businesses provide differentiated growth potential, and can also help mitigate downside risk within a diversified portfolio.
Investment Strategy
Are Emerging Markets Reemerging?
Hear Sands Capital's take on the resurgence of emerging markets in this short video highlighting past struggles, recent progress, and why we are optimistic about this asset class.
Investment Strategy
Going Where The Growth Is: Emerging Markets
Listen to Sands Capital's take on the nuances of investing in emerging markets, and the significance of selectivity and understanding growth opportunities.
Investment Strategy
Why Active Matters in Emerging Markets
In this brief video, we explain the shortcomings of passive investing in emerging markets and the benefits of active investments.
Investment Strategy
Positioning Investments in an Uncertain Election Environment
History suggests that markets trend upward regardless of who’s in the White House and who controls Congress. That said, given today’s geopolitical, economic, and social crosscurrents, we believe that selectivity will become increasingly important.
Investment Strategy
Decoding Software’s Future
The combination of software and the move to cloud computing remains one of the largest secular growth trends we see, which is driving increased demand for scalable, cloud-based solutions across every sector of the economy.
Load more
Podcasts
Business Perspectives
Episode 1: Samsara
In this episode of What Matters Most, we explore Samsara’s innovative approach to data collection and visualization. Learn about the company’s rapid growth, market potential, and competitive advantages — as well as what international expansion could mean for the business.
Business Perspectives
Episode 11: Titan
In this episode of What Matters Most, we delve into the world of Titan, India’s leading jewelry and watch retailer, with Sr. Research Analyst Massimo Marolo. Explore the cultural significance of gold in India, the dynamics of the fragmented jewelry market, and Titan’s advantages as a trusted, vertically integrated brand.
Business Perspectives
Episode 10: Flutter
Discover how Flutter is leveraging technology, regulatory changes, and a deep understanding of customer behavior to redefine the betting experience in this podcast episode. From the intricacies of in-game betting to the challenges of responsible gambling, this episode offers a compelling glimpse into the high-stakes world of online betting.
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Perspectives Newsletter
Our latest thinking on innovation investing, long-term capital, and culture.
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