Own the Few
Own the Best

After many research trips to Japan, we moved to increase exposure to businesses supported by key trends, such as digitalization and advanced computing, industrial innovation, unique consumer preferences, and an aging domestic and global population.

Some of the best-performing emerging markets businesses are often led by founders and families. We believe their passion and grit lead them to launch the innovative businesses that often challenge the status quo, create new opportunities, and establish enduring legacies.

Sands Capital portfolio managers reflect on five powerful lessons they have learned while investing through past downturns.

After two years of strong equity returns, valuations sit at historical highs—raising questions about future market performance. While elevated valuations can signal lower long-term returns, structural shifts like AI-driven innovation and broadening earnings growth may tell a different story.