Sands Capital
Sands Capital Emerging Markets Growth
Emerging markets Large-cap Growth
Jun 2025 → Dec 2025
Our archive holds 3 letters from this strategy, behind 10 investment theses and positions in 10 companies. Every quote below is copied verbatim from the letter it came from.
3 letters in a year — follow all of Sands Capital for every strategy.
Its investment theses
- Alibaba Group Holding LimitedDec 2025Alibaba Group Holding Limited is a Chinese technology leader with full-stack AI infrastructure and an integrated retail strategy, renewed execution, and potential to be a top on-demand ecommerce player by 2030.
- DiDi Global Inc.Dec 2025DiDi Global Inc. is China’s leading ride-hailing platform with significant profit growth potential, operational leverage, expansion in Latin America, and an attractive valuation with a possible Hong Kong listing catalyst.
- H World GroupDec 2025H World Group is China’s largest hotel operator benefiting from stabilizing industry dynamics, scale advantages, and margin expansion potential from an asset-light shift.
- WEG S.A.Dec 2025WEG S.A. is a Brazilian industrial leader well positioned to benefit from decarbonization and infrastructure investment, supported by strong execution, policy engagement, and broad product capabilities.
- Bharti AirtelSep 2025Bharti Airtel is a strong Indian telecom leader poised for growth, benefiting from an expanding market, improved pricing power, and rising profitability due to enhanced operational efficiency and reduced capital expenditures.
- Samsung ElectronicsSep 2025Samsung Electronics is poised for significant growth as a key supplier of high-bandwidth memory for AI applications and aims to improve its market position in both premium and mass segments amid favorable geopolitical dynamics.
- SK hynixSep 2025SK hynix is the world's largest dedicated producer of memory chips, poised to benefit from the growing demand for high-bandwidth memory driven by advancements in AI and high-performance computing.
- COSMAXSep 2025COSMAX is the world's largest original design manufacturer in cosmetics, poised to capture significant growth due to market fragmentation and rising demand for Korean beauty products.
- MediaTekJun 2025MediaTek is a leading fabless semiconductor designer in Asia, driving significant revenue from smartphone SoCs while also expanding into AI, automotive computing, and PCs, with limited geopolitical risks benefiting its market position.
- XiaomiJun 2025Xiaomi is a global consumer technology leader with a unique ecosystem that integrates smartphones, IoT devices, and electric vehicles, positioning it for long-term growth through high-quality, affordable products and seamless integration across categories.