Private Growth
Quarterly Updates
Quarterly Strategy Reviews
In these webcast reviews, the featured portfolio managers discuss perspectives on the market environment, the portfolios' top contributors and detractors, and recent purchases and sales.
The 4Q 2025 Quarterly Strategy Reviews for Select Growth, Global Growth, Global Leaders, and Emerging Markets Growth will be available until February 22, 2025.
The 4Q 2025 Quarterly Strategy Reviews for Select Growth, Global Growth, Global Leaders, and Emerging Markets Growth will be available until February 22, 2025.
Flash Reports
Our quarterly summary reports of recent investment results, top 10 businesses, portfolio characteristics and exposures, and contribution analysis are available to download now.
Flash Reports
Our quarterly summary reports of recent investment results, top 10 businesses, portfolio characteristics and exposures, and contribution analysis are available to download now.
Commentary Reports
These reports consisting of portfolio overviews, commentary, contribution analysis, purchases and sales, carbon metrics, engagement, and voting activity are available to download now.
Quarterly Reports
These reports consisting of portfolio overviews, commentary, contribution analysis, purchases and sales, carbon metrics, engagement, and voting activity are available to download now.
“They know where the market is heading and what it needs. It has been a complete alignment with our vision.”
Ajay KhannaFounder & CEO, Tellius 
“They know where the market is heading and what it needs. It has been a complete alignment with our vision.”
Ajay KhannaFounder & CEO, Tellius 
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Latest Thinking
Investment Strategy
AI at a Crossroads: Rational Optimism in the Face of Fear
The recent “Global Intelligence Crisis” scenario has amplified concerns that AI-driven displacement of white-collar labor could undermine consumption and destabilize economic growth. While these fears are understandable, history suggests that transformative technologies have repeatedly reshaped, not collapsed, economic systems.
Investment Strategy
Debugging the AI Narrative in Software
AI-driven disruption has sparked indiscriminate selling across software. We believe important distinctions are being overlooked, creating long-term opportunities in cybersecurity, infrastructure, and select vertical and mission-critical platforms.
Investment Strategy
Strengthening Resilience in a Fragmenting World
AI and cybersecurity are becoming core pillars of resilience as geopolitical and technological disruption accelerates. Organizations must pair proactive AI adoption with stronger cyber defenses to withstand faster, more automated threats.
Investment Strategy
The New Gravity of Space
Falling launch costs and increasingly reliable networks are reshaping the space industry. Sr. Research Analyst Massimo Marolo, CFA, discusses how this market is evolving and why it matters.
Investment Strategy
Five Forces Powering the Next Decade of Growth
Investors face geopolitical tension, market volatility, and uncertainty about interest rates and inflation. We stay focused on secular trends that can persist through the day-to-day noise and reward long-term ownership.
Investment Culture
Fostering Long-Term Thinking
Executive Managing Director and Sr. Portfolio Manager Brian Christiansen discusses the importance of candor, collaboration, and entrepreneurialism in creating a culture that promotes long-term thinking.
Investment Culture
Obvious. Difficult. Repeatable.
Our edge is our culture that helps us do the obvious but hard things. We own many high-quality businesses and hold them with discipline over long periods of time.
Investment Strategy
Capture the Rise; Survive the Fall
AI is pushing markets higher but not without warning signs. Our focus is on strong companies that can deliver through the ups and downs.
Events
Michael Clarke, Michael Graninger, and Barron Martin Jr. Named to Washingtonian’s 2025 Tech Titans List
The publication recognized the three among the most innovative and influential figures in D.C.’s tech community. No payment was provided for this ranking. Washingtonian is not a client or otherwise affiliated with Sands Capital.
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