Knowledge Leader Company Research

Knowledge Leaders are highly innovative companies that possess deep reservoirs of intangible capital as a result of their history of investing in knowledge-intensive activities like R&D, brand development and employee education. When we talk about investing in highly innovative companies, most people think of tech stocks. But did you know the digital revolution is driving companies to lead their industries in every sector and geography in the world? To illustrate how each Knowledge Leader employs intangible capital in a different way, we feature our spotlight research on these companies below.


Wired for the Future

Country: Switzerland
Sector: Industrials
Published: 9/12/23
Summary: With the rapid pace of urbanization, there’s an increasing demand for efficient and sustainable power solutions, and ABB’s advancements in smart grids and renewable energy integration are pivotal in meeting the demands of this transition.


Mining the Future of Rare Earth Minerals

Country: United States
Sector: Materials
Published: 9/11/23
Summary:The story of MP Materials is deeply intertwined with the Mountain Pass mine, a significant source of rare earth materials.


From Motorola’s Shadow to Global Luminary

Country: United States
Sector: Information Technology
Published: 9/7/23
Summary: Known as “onsemi” for short, this Knowledge Leader is a global leader in intelligent power and sensing solutions for industries ranging from automotive to industrial, and from 5G & cloud power to medical solutions.


Pioneering Water Solutions for a Thirsty World

Country: United States
Sector: Industrials
Published: 8/30/23
Summary: Xylem harnesses smart technology to provide water, wastewater, and energy solutions to a diverse range of sectors, from agriculture and aquaculture to commercial buildings and energy.


From Dynamo Days to Digital Displays

Country: Germany
Sector: Industrials
Published: 8/28/23
Summary: For Siemens, innovation is not just about creating new products; it’s about redefining possibilities. The company’s ethos revolves around the belief that there’s always a more efficient solution waiting to be discovered.


Enhancing the Solar Wave

Country: United States
Sector: Information Technology
Published: 8/22/23
Summary:  Enphase Energy is revolutionizing the solar industry, one micro-inverter at a time.


From Aviation Roots to Digital Heights

Country: France
Sector: Information Technology
Published: 8/21/23
Summary:  Whether it’s designing a new aircraft, a sustainable city, or a life-saving medical device, Dassault Systèmes provides the tools to turn imagination into reality.


Lighting Up the World of Semiconductors

Country: Netherlands
Sector: Information Technology
Published: 8/17/23
Summary: By pioneering technologies like extreme ultraviolet lithography, ASML ensures that the semiconductor industry can meet the evolving demands of consumers and industries alike.


From Lightbulb Sockets to Global Luminary

Country: Japan
Sector: Information Technology
Published: 8/14/23
Summary: The name “Panasonic” itself is an amalgamation of universal aspirations. “Pan,” meaning all-encompassing, and “Sonic,” representing sound, come together to symbolize the company’s early ambitions of producing sound products for everyone.


A Century of Innovation

Country: United States
Sector: Information Technology
Published: 8/8/23
Summary: Affectionately known as “Big Blue,” IBM specializes in everything from computer hardware and middleware to software, offering hosting and consulting services that range from mainframe computers to cutting-edge nanotechnology.


Planting Seeds of Innovation, Harvesting Global Impact

Country: Japan
Sector: Industrials
Published: 8/7/23
Summary: Japan’s first electric locomotive was a monumental achievement, not only for Hitachi but also for Japan, marking a significant milestone in the country’s industrialization process.


The A to Z of Technological Revolution

Country: United States
Sector: Communication Services
Published: 8/1/23
Summary: Whether it’s sourcing information online, navigating unfamiliar terrain, communicating with others, or securely storing data, Alphabet’s products offer solutions that millions of people depend on every day.


From Tokyo to Tomorrow

Country: Japan
Sector: Information Technology
Published: 7/31/23
Summary:The founders of Fujitsu were visionaries who saw the potential of telecommunications and computing, even in an era when these technologies were in their infancy.


The Customer Company

Country: United States
Sector: Information Technology
Published: 7/26/23
Summary: Aptly known as the “Customer Company,” Salesforce has a mission to build bridges between companies and customers, fostering meaningful connections that drive business success. 


Dialing up the Future

Country: Japan
Sector: Communications Services
Published: 7/26/23
Summary: One of the NTT’s early successes was the introduction of the first cross-country telephone line in Japan, which revolutionized communication within the country, connecting people across vast distances and fostering a sense of national unity.


The Digital Alchemist Transmuting Business Processes

Country: Germany
Sector: Information Technology
Published: 7/24/23
Summary: One of SAP’s unique strengths is its ability to provide integrated, end-to-end solutions that cater to various business needs. 


The GPU Guru Shaping Tomorrow

Country: United States
Sector: Information Technology
Published: 7/20/23
Summary: Nvidia, a global leader in the technology industry, has always placed a significant emphasis on R&D as a key driver of the future.


Navigating the Electronic Century

Country: Japan
Sector: Information Technology
Published: 7/19/23
Summary: NEC aims to maintain its leadership in the IT and network technologies sector with a special focus on exploring new growth areas, such as artificial intelligence and the Internet of Things.


The Unseen Conductor of Global Connectivity

Country: Finland
Sector: Communications Services
Published: 7/13/23
Summary: Today, Nokia is a major player in the telecommunications infrastructure industry, providing network equipment and services to telecommunications operators around the world.


The Jungle Where Innovation Roars

Company: Amazon
Country: United States
Sector: Consumer Discretionary
Published: 7/13/23
Summary: The world’s largest online retailer and a prominent player in cloud services, digital streaming, and artificial intelligence, Amazon has redefined the landscape of e-commerce and technology.


A Symphony of Innovation

Company: Microsoft
Country: United States
Sector: Information Technology
Published: 7/10/23
Summary: Microsoft’s journey of innovation is marked by numerous breakthroughs, but none as significant as the development of the Windows operating system.


The Inventor of Umami

Company: Ajinomoto
Country: Japan
Sector: Consumer Staples
Published: 4/24/23
Summary: This Tokyo, Japan-based company’s roots go back to 1899, when Dr. Kikunae Ikeda set to work to bring Western health standards to Japan and discovered “umami,” known as the fifth taste.


Pioneering Diagnostics “In the Glass”

Company: BioMérieux
Country: France
Sector: Health Care
Published: 3/28/23
Summary: Since then, BioMérieux’s deep knowledge and expertise in diagnostics has been compounding, making it a pioneer in infectious diseases and food and drug safety worldwide. 


In Search of Flawless Semiconductors

Company: Lasertec
Country: Japan
Sector: Information Technology
Published: 3/16/23
Summary: R&D is forged in close partnership with major semiconductor manufacturers around the world, and Lasertec engages in ongoing conversations about future needs during regular customer visits.


Simple, Elegant Discounts for the Complex US Health Care System

Company: GoodRx
Country: United States
Sector: Health Care
Published: 3/7/23
Summary: Based in Santa Monica, Calif., GoodRx was founded in 2011 to address rising drug costs for consumers. Since then the firm has helped Americans save over $35 billion on prescriptions and is one of the most downloaded medical apps on both Google Play and the Apple App Store.


Digitizing Cargo’s Journey from City to Port to Doorstep

Company: Cargotec
Country: Finland
Sector: Industrials
Published: 2/9/23
Summary: In 2021, the firm used the proceeds from the sale of its Navis business to invest in R&D, electrification, digitization, robotics, and automation—a project it expects to transform every industry Cargotec serves. 


Applying Mathematics to Internet Performance Since 1999

Company: Akamai
Country: United States
Sector: Information Technology
Published: 12/16/22
Summary: The firm hosts regular “Tech Jams,” the Akamai version of a 3-day hackathon camp during which employees form teams to build new applications. Winning ideas get selected and funded as new projects.


Where Video Game Characters are IP

Company: Bandai Namco Holdings
Country: Japan
Sector: Consumer Discretionary
Published: 11/16/22
Summary: This Knowledge Leader relies on proven IP to deliver lasting entertainment via network and home console games, and at Bandai Namco, even video game characters are considered IP


Innovating Home Health Care

Company: LHC Group
Country: United States
Sector: Health Care
Published: 10/26/22
Summary: LHC believes its ability to leverage technology has created a competitive advantage that has led to cost-efficient growth and better patient car


Empowering Financial Freedom

Company: Jack Henry & Associates
Country: United States
Sector: Information Technology
Published: 10/19/22
Summary: The firm was founded in 1976 by Jack Henry and Jerry Hall, upon the idea that technology could help modernize community and regional banks to better serve their customers.


Sensing Better Health Options

Company: Masimo Corporation 
Country: United States
Sector: Health Care
Published: 10/7/22
Summary: When the COVID-19 pandemic hit, Masimo found itself in a unique position to support the urgent needs of both clinicians and patients as demand for telehealth grew. The firm transformed a promising new technology in development for opioid overdose detection into a remote monitoring product to help alleviate overwhelmed care centers.


Pursuing Excellence in Life, Science and Microorganisms

Company: Yakult Honsha
Country: Japan
Sector: Consumer Staples
Published: 9/23/22
Summary: The Japan-based firm’s origins reach back to 1921, when poor hygiene and nutrition caused widespread cholera, dysentery and death. Founder Dr. Minoru Shirota set to researching microorganisms with the idea to push beyond simply treating illness and figure out how to prevent it in the first place.


Moving Financial Data from the Bike Messenger to the Cloud

Company: FactSet
Country: United States
Sector: Financials
Published: 9/15/22
Summary: FactSet was founded in 1978 around the idea of outpacing change, a vision that would ultimately move financial data from the bike messenger to the cloud. The firm’s technology platform is based on the belief that to succeed, tools must be open, flexible, and nimble.


Funding a New Generation of Merchants

Company: Shopify
Country: Canada
Sector: Information Technology
Published: 9/9/22
Summary: The firm was founded in 2006 in Ottawa, Canada, when current CEO Tobi Lütke built the software necessary to launch an online snowboard store and soon realized the software was more valuable than the snowboards.


No. 1 in CRM

Company: Salesforce
Country: United States
Sector: Information Technology
Published: 9/7/22
Summary: While Salesforce relies on the usual trademarks, patents and trade secrets protections, at times it will make select intellectual property broadly available at no or low cost to achieve a strategic objective, such as promoting industry standards or advancing open-source development.


Driving to Survive

Company: Liberty Media
Country: United States
Sector: Communication Services
Published: 8/26/22
Summary: The group credits breakthrough brand investments like the Netflix series, “Drive to Survive,” now in its fourth season and recognized as the first of a new genre of unscripted sports content.


What Should I Cook for Dinner?

Company: Pinterest
Country: United States
Sector: Communication Services
Published: 8/17/22
Summary: Today about 85 percent of the site’s nearly 500 million users report they go to Pinterest when they are beginning a new project, making this the No. 1 reason people use Pinterest.


Riding the Gaming Tailwinds

Company: Take-Two Interactive Software
Country: United States
Sector: Communication Services
Published: 8/11/22
Summary: The firm differentiates its products by combining advanced technology with compelling storylines and characters that offer unique game experiences—all of it highly dependent on the creation, acquisition, and licensing of intellectual property.


The Music Machine of the Future

Company: Spotify
Country: Sweden
Sector: Communication Services
Published: 8/4/22
Summary: At the heart of its innovation strategy is a longstanding commitment to improving the core intellectual property behind Spotify’s popular user experience: its playlist algorithm.


Cybersecurity in its DNA

Company: OneSpan
Country: United States
Sector: Information Technology
Published: 7/27/22
Summary:  OneSpan considers its competitive differentiator to be intellectual property, including for example the world-class security DNA behind its suite of Digipass Devices, and its deep roots in highly regulated industries like banking.


Guardians of the Connected World

Company: Netscout
Country: United States
Sector: Information Technology
Published: 7/21/22
Summary: This Knowledge Leader believes in embracing change. Netscout applies what is calls a “holistic approach” to keep pace with innovation. 


Etching Intellectual Property into Every Wafer

Company: Photronics
Country: United States
Sector: Information Technology
Published: 7/11/22
Summary: The firm’s management believes the rich stores of intellectual property accumulated over the 53 years since the firm’s founding provide an edge in the highly competitive global photomask business.


Democratizing eCommerce in Latin America

Company: Mercado Libre
Country: Argentina
Sector: Consumer Discretionary
Published: 6/23/22
Summary: The firm was formed in 1999 after founder Marcos Galperin earned an MBA at Stanford Graduate Business School then returned home to Buenos Aires to build Mercado Libre Silicon-Valley-startup style: in his garage.


Zero Harm Farming and Mining

Company: Incitec Pivot
Country: Australia
Sector: Materials
Published: 6/17/22    
Summary:  Looking forward, the firm’s innovation priorities include a strategic Net Zero Pathway decarbonization initiative and new R&D partnerships at work on breakthrough products like “smart fertilizers” for example, aimed at regenerating soil health, and green ammonia that lowers emissions.


Metals of the Future

Company: Norsk Hydro
Country: Norway
Sector: Materials:
Published: 6/7/22
Summary: Nearly all R&D efforts are focused on process efficiencies, reducing energy consumption, recycling, reducing environmental impact, and building expertise in batteries and hydrogen.


Keeping It Clean

Company: Steris
Country: United States
Sector: Health Care
Published: 6/3/22
Summary: A leader in sterilization technologies, this Knowledge Leader was founded in 1985 with a mission to create a healthier and safer world through innovation of sterile equipment and technologies.


Enabling the Transition to Clean Energy

Company: Linde
Country: United Kingdom
Sector: Materials
Published: 5/26/22
Summary:  Linde was founded in 1879 in Germany when Carl Linde brought together a group of partners to fund his breakthrough mechanical refrigeration system for the beer brewing industry. Since then, this Knowledge Leader has amassed 140 years of technological progress. 


Creating the Workplace of the Future

Company: Kforce
Country: United States
Sector: Industrials
Published: 5/19/22
Summary: Because this firm’s product is its people, a significant part of its innovation practice is to empower its employees to be the best versions of themselves.


Engineering Digital Industrial Production

Company:Dover Corporation
Country: United States
Sector: Industrials
Published: 5/18/22
Summary: This Knowledge Leader was founded on the principles that businesses, like humans, thrive when they can operate creatively and independently with minimal debt.


Tastemaking for a “Snackier” Consumer

Company: Simply Good Foods
Country: United States
Sector: Consumer Staples
Published: 5/13/22
Summary: The firm’s history goes back 45 years to when cardiologist Dr. Robert Atkins took on the generally accepted weight loss methods of his time by proposing a nutritional approach based on eating right, not less.


A Passion for Rural Life “Out Here”

Company: Tractor Supply Company
Country: United States
Sector: Consumer Discretionary
Published: 5/6/22
Summary: Tractor Supply Company is the largest rural lifestyle retailer in the US, offering a range of products for home, land, pets, and animals—everything except tractors.


The Flavor, Texture and Color of Comfort Food

Company: Sensient Technologies
Country: United States
Sector: Materials
Published: 4/28/22
Summary: Inspired by nature, its products are designed to enhance sensory experience through Sensient’s proprietary technologies.


Advancing Treatment for Heart Disease

Company: Edwards Lifesciences
Country: United States
Sector: Health Care
Published: 4/22/22
Summary: Edwards set to work developing what would become the first artificial heart valve, and today the firm’s products have helped treat more than two million patients worldwide.


A History of Diagnostics from Cholera to COVID

Company: Roche
Country: Switzerland
Sector: Health Care
Published: 3/28/22
Summary: Last year, Roche marked its 125th anniversary, taking the opportunity to point out the current pandemic is not the first time a pathogen has emerged to present challenges to society. Indeed, Roche was founded on such a challenge.


Reinvention in its DNA

Company: Sanofi
Country: France
Sector: Health Care
Published: 3/24/22
Summary: Just as vaccines transformed medicine a century ago, Sanofi’s R&D teams are building on innovations from the last decade for new treatments that would have been unimaginable a few years ago. 


Building Homes to Embrace Change

Company: PulteGroup
Country: USA
Sector: Consumer Discretionary
Published: 3/18/22
Summary: PulteGroup is also at work digitizing the homebuying process from start to finish. Last year for example, the firm launched an online interior design app through which homebuyers scan QR codes from models to easily and virtually design and place orders to furnish their own homes.


Building Credit for 123 Years

Company: Equifax
Country: USA
Sector: Industrials
Published: 3/16/22
Summary: Its flagship product is the Equifax Cloud, a data platform customizable for the full range of customers. Equifax’s breakthrough here was capturing all of its data in the cloud for instant access and enabling it to be used with advanced analytics, artificial intelligence, and machine learning.


Connecting Infrastructure for a Century

Company: Belden
Country: USA
Sector: Information Technology
Published: 3/9/22
Summary: In response to the advent of the semiconductor in the 1970s, Bendel adapted, transforming itself from a cable company to a signal transmission solutions provider, adding connectors, switches, routers and networking products to provide a full portfolio of offerings.


Innovation from the Garage to the Cloud

Company: Hewlett Packard Enterprise
Country: USA
Sector: Information Technology
Published: 3/1/22
Summary: The firm’s roots go back to 1939, when Bill Hewlett and Dave Packard rented a garage, and in it, formed Silicon Valley’s original startup company. There, they built an audio oscillator machine for sound engineers, a product that soon proved critical to one very strategic early customer: Walt Disney Studios.


SaaS Down Under

Company: TechnologyOne
Country: Australia
Sector: Information Technology
Published: 2/17/22
Summary: Because the firm attributes its success to constant innovation and creativity, each year TechnologyOne invests about 20 percent of total revenue in R&D. Its innovation strategy revolves around making the software experience as simple as possible.


Deep Roots in Electronic Printing

Company: Seiko Epson
Country: Japan
Sector: Information Technology
Published: 2/14/22
Summary: Founded in 1941 in Japan, the firm’s first mass market breakthrough came with the launch of the EP-101, an electric printer that opened up a new world of printing for users and sales for the company.


The Ribbon Model

Company: Recruit
Country: Japan
Sector: Industrials
Published: 2/11/22
Summary: By creating a common platform for connecting business owners and individuals, Recruit seeks to make the best matches to mutually benefit both parties, seeing its role as tying the ribbon that connects the two.


Measuring Science in the Past, Present & Future

Company: Shimadzu
Country: Japan
Sector: Information Technology
Published: 2/1/22
Summary: Shimadzu relies on an integrated R&D philosophy to foster innovation, in the last 50 years, building Innovation Centers around the world to identify and respond quickly to customer needs. 


The Ultimate Vacuum Technology

Company: Ulvac
Country: Japan
Sector: Information Technology
Published: 1/31/22
Summary: Founded in 1952 as an importer of vacuum equipment—for which it hoped to spearhead widespread adoption in Japan–today Ulvac is a global leader in vacuum technology, offering technical advising to universities, research labs, and beyond.


Eyes on the Future

Company: Hoya
Country: Japan
Sector: Health Care
Published: 1/21/22
Summary: Hoya makes more than 100 different varieties of glass, working from a proprietary “recipe book” containing more than 50,000 different ways to make glass.


On the Bleeding Edge of Health Care Diagnostics

Company: Sysmex
Country: Japan
Sector: Health Care
Published: 1/19/22
Summary: Much of this R&D is geared toward what Sysmex calls “personalized medicine,” whereby individualized diagnostics help determine the optimal treatment for each patient. Ideally, this reduces the physical burden on patients by homing in on the most effective treatment for a person’s disease and curtails medical expenses. 


Water as Breakthrough Technology

Company: Kurita Water
Country: Japan
Sector: Industrials
Published: 1/12/22
Summary: Since its founding in 1949, when the firm began making chemicals to manage sediment buildup in boilers, Kurita Water has been at work innovating to solve water and sustainability needs in a broad scope of industries.


Innovating Indoor Climates to Address Climate Change

Company: Daikin
Country: Japan
Sector: Industrials
Published: 12/21/21
Summary: Daikin attributes its steady growth since the firm’s founding in 1924 to the diverse climates and limited natural resources of its home in Japan.


Shifting Left

Company: Tokyo Electron
Country: Japan
Sector: Information Technology
Published: 12/1/21
Summary: Since its founding in 1963, Tokyo Electron has been accumulating the technological expertise it builds on to deliver industry-leading production equipment in two product categories: semiconductors and flat panel displays.


Spinning the Future

Company: Shimano
Country: Japan
Sector: Consumer Discretionary
Published: 11/29/21
Summary: By the 1990s Shimano was widely recognized as a world leader in cycling components and sponsor of the Shimano Racing Team.


Getting Under the Surface of Global Testing

Company: ALS
Country: Australia
Sector: Industrials
Published: 11/23/21
Summary: This summer the firm announced its labs helped researchers at the University of Washington identify a mystery toxin in the water that was killing off coho salmon, baffling scientists for decades.


Producing Half of All Beer on Earth

Company: GEA Group
Country: Germany
Sector: Industrials
Published: 9/29/21
Summary: One current project has GEA working with New Zealand’s sheep milk industry, which has seen a 50 percent increase in production the last two years due to sheep milk’s unique beneficial nutritional profile compared to cow’s milk, to engineer safe, animal friendly and sustainable long-term practices.


Chemistry for a Sustainable Future

Company: Minerals Technologies
Country: USA
Sector: Materials
Published: 9/27/2021
Summary: The firm also is a leading maker of precipitated calcium carbonate, the paper additive that enables manufacturers to make paper recyclable and use significantly less pulp, the raw material from trees.


Paving the Way for a More Solid Foundation

Company: Martin Marietta Materials
Country: USA
Sector: Materials
Published: 9/27/2021
Summary:  Formed in 1993 as a subsidiary of Martin Marietta Corporation, the firm spun off and became an independent company in 1996 with a mission to innovate the materials that build solid foundations in communities.


Electrifying Industry Everywhere

Company: ABB Group
Country: Switzerland
Sector: Industrials
Published: 9/23/2021
Summary: The firm’s chief goal is to push the boundaries of technology and embed sustainability into every segment in which it operates. This month for example, it launched a new portfolio of electrification and digital systems designed to accelerate the decarbonization of the mining sector. 


Forklifting the Future of Supply Chains

Company: KION Group
Country: Germany
Sector: Industrials
Published: 9/17/2021
Summary: The firm is focused squarely on e-commerce, which it has identified as one of the major drivers of the world economy, seeing its role as key to delivering the automated supply chains that allow customers to compete in a digital world.


Pumping Profits

Company: Interpump
Country: Italy
Sector: Industrials
Published: 9/16/2021
Summary: The firm attributes its strength over the years to its quality standards and total control over the production process, from raw materials to finished product, exporting 75% of total sales out of Italy to other countries.


Advances in Aural Health

Company: Demant
Country: Denmark
Sector: Health Care
Date: 9/14/2021
Summary: Believing that hearing is a key factor to cognitive development and living a full life, Demant is committed to innovation through new technologies.


Cementing a Carbon-Neutral Future

Company: HeidelbergCement
Country: Germany
Sector: Materials
Published: 9/14/2021
Summary: A pioneer in carbon neutrality, HeidelbergCement has committed to invent and produce climate-neutral cement by the year 2050.


Dental Dominance and Digitization

Company: Straumann Group
Country: Switzerland
Sector: Health Care
Published: 9/8/2021
Summary: Based in Basel, Switzerland, Straumann considers its culture of fostering agility, embracing change, and encouraging entrepreneurism to be the firm’s No. 1 asset.


Pioneers in Family-Led Corporate Innovation

Company: Sofina
Country: Belgium
Sector: Financials
Published: 8/31/21
Summary: Sofina’s unique differentiator is that it only takes minority ownership positions, and its mission is to provide long-term patient capital, expertise and advice to growing companies led by entrepreneurs and their families.


Innovators in ESG-Focused Private Equity

Company: 3i Group
Country: UK
Sector: Financials
Published: 8/31/21
Summary: European demographic shifts such as increasing life expectancy, aging and declining population and the associated consumer preferences, behavior changes and policy responses have guided many of 3i’s recent choices for private investment.


Spotlight Carl Zeiss Meditec: A Vision in Innovation

Company: Carl Zeiss Meditec
Country: Germany
Sector: Health Care
Published: 8/24/21
Summary: In the early days, before the COVID-19 virus was understood and treatments were discovered, the firm developed a video laryngoscope—the tool doctors use to look deep into a patient’s throat for examining or intubating patients.


Charming the World with Jewelry Innovations

Company: Pandora
Country: Denmark
Sector: Consumer Discretionary
Published: 7/8/21
Summary: Expected to be available next year for a starting price around $350, Pandora says its lab gems are identical to mined diamonds in optical, chemical, thermal and physical characteristics but grown in a laboratory rather than excavated from a mine.


Organizational Capital at World Feeding Britons

Company: Associated British Foods
Country: UK
Sector: Consumer Staples
Published: 6/30/21
Summary: For this Knowledge Leader, firm-specific knowledge lies at the core of the strategy. The group’s five divisions are built around a small circle of business leaders it calls its “corporate center.”


Submerged in the Energy Transition

Company: Subsea 7 
Country: UK
Sector: Energy
Published: 6/28/21
Summary: As its traditional oil and gas clients began cutting back drastically, Subsea 7’s team changed course quickly and decisively, reducing costs across its legacy business and redirecting resources into the small but growing renewable energy business it had established to build wind farms in the ocean a decade before.


The UK’s Essential Retailer

Company: B&M European Value
Country: United Kingdom
Sector: Consumer Discretionary
Published: 6/25/21
Summary: By focusing on stocking a limited assortment of only the most popular products within each category, B&M maintains a constant stream of new items every week, giving customers new reasons to keep returning to its stores again and again.


The Tiny Protective Layer that Makes a Big Difference in the Pfizer-BioNTech Vaccine

Company: Evonik
Country: Germany
Sector:  Materials
Published: 6/23/21
Summary: By repurposing two plants in Germany, Evonik was able to set up the urgently needed production teams in just eight weeks (a process that usually takes at least a year) and deliver its lipid technology months ahead of schedule.


When You Own the Forest, Every Business Goal is Sustainable

Company: Holmen
Country: Sweden
Sector: Materials
Published: 6/22/21
Summary: While many companies distinguish between business and sustainability goals, Holmen does not. Indeed, for a firm whose growing forests reduce the amount of carbon dioxide in the atmosphere, every corporate goal must be sustainable.


Nuclear Emerging as Key Tool in Carbon-Free Future

Company: Cameco
Country: Canada
Sector: Energy
Published: 6/18/21
Summary: in 2020, Cameco supplied enough uranium to fuel nuclear energy capable of preventing the release of about 421 million tons of CO2. That’s the equivalent of taking 90 million gas-fueled cars off the road.

 


Chemical Progress Through Science and Humanity

Company: Solvay
Country: Belgium
Sector: Materials
Published: 5/28/21
Summary: Solvay’s Repel-O-Tex soil release polymers for laundry have hydrophobic and hydrophilic components that bind to fabric to release soils and stains while at the same time hindering further soil adhesion.

 


Cooling, Heating, Eating & Drinking On the Go Since 1922

Company: Dometic Group AB
Country: Sweden
Sector: Consumer Discretionary
Published: 5/26/21
Summary: This year Dometic launched Delibox, the first temperature-controlled food delivery box created to solve the No. 1 complaint from people who order in: food arriving cold.


Smarter, Affordable Construction for a New World

Company: Wienerberger AG
Country: Austria
Sector: Industrials
Published: 5/21/21
Summary: Before the pandemic hit, Wienerberger had recently digitized its processes, a coincidence that allowed it to keep supply chains in operation during lockdown and led to strong results and predictability during an extraordinary year.


Luxury Brands, Gen Z-Style

Company: Richemont
Country: Switzerland
Sector: Consumer Discretionary
Published: 4/8/21
Summary:  Richemont collaborates with technology firms in R&D areas such as embedded electronics, augmented reality, deep learning and recycled materials. 


Bernard Arnault’s Luxury Empire

Company: LVMH
Country: France
Sector: Consumer Discretionary
Published: 3/29/21
Summary: Today LVMH believes its decentralized model is key to its success, empowering each luxury brand to stay close to its customers and ensuring responsiveness and fast, effective decisionmaking.


Embracing Change in Every Maison

Company: Christian Dior
Country: France
Sector: Consumer Discretionary
Published: 3/26/21
Summary: The group maps future strategy for all brands using the same three core values: first, creativity and innovation; second, the fine craftsmanship through which each house has built its legacy; and third, entrepreneurial agility.


Embracing the User’s Point of View

Company: DeNA
Country: Japan
Sector: Communications Services
Published: 3/25/21
Summary: The company describes two values as instrumental to its growth. First, an emphasis on the user’s point of view, and second, a willingness to depart from the status quo.


Engineering the Future of Homebuilding

Company: LP Building Solutions
Country: United States
Sector: Materials
Published: 3/17/21
Summary: LP aims to innovate building materials to reduce construction costs, minimize waste, increase energy efficiency and foster safe home environments, and these two lines illustrate that commitment.


Insulating the Future with Knowledge

Company: TopBuild
Country: United States
Sector: Consumer Discretionary
Published: 3/18/21
Summary: Because the insulation market is highly competitive and fragmented, TopBuild considers its competitive differentiator to be firm-specific resources that have led to economies of scale.


Embracing Technology to Clean Up Mining

Company: BHP
Country: Australia
Sector: Materials
Published: 3/12/21
Summary: Technology is instrumental, the firm has said, to meet its future growth goals, with company-wide initiatives in cloud computing, robotics, autonomous vehicles and artificial intelligence.


Champion of Digital Transformation

Company: Groupe Bruxelles Lambert 
Country: Belgium
Sector: Financials
Published: 3/10/21
Summary: As an active, long-term investor GBL encourages its companies to embrace long-term trends, recently for instance, Adidas’ digital transformation and Umicore’s expansion in the electric vehicle market.


A Bias Toward Base Metals

Company: South32
Country: Australia
Sector: Materials
Published:3/5/21
Summary: In its new iteration, South32 has a bias toward developing its business in “base” metals, those metals considered common and therefore non-precious, where it expects to see growth as the world transitions to a lower carbon economy.


Best-in-Class Begins with R&D and Sustainability

Company: Investor AB
Country: Sweden
Sector: Financials
Published: 3/3/21
Summary: All of Investor’s work is based on the central value that to become or remain best-in-class, companies must invest in R&D, regardless of pressure from the stock market or other external forces.


Sustainable Innovation Via Safer, Smarter Mines

Company: AngloAmerican
Country: United Kingdom
Sector: Materials
Published: 3/1/21
Summary: The core of AngloAmerican’s innovation strategy is its “FutureSmart Mining” program, that combines technology, digitization, and sustainability to design what it calls “connected, learning mines.” Using data collected at every step of the process, the firm has found innovation and sustainability go hand in hand.


Driving the Future of Intelligent Tires

Company: Pirelli
Country: Italy
Sector: Consumer Discretionary
Published: 2/26/21
Summary: The firm’s “cyber” technology strategy involves building sensors into the tire to collect safety and performance information. In fact, Pirelli was the first tire maker to transfer road surface data detected by intelligent tires via 5G networks.


Where the Rubber Meets the Road to the Future

Company: Continental
Country: Germany
Sector: Consumer Discretionary
Published: 2/25/21
Summary:  Continental’s roadmap for the future involves paving auto industry innovation in safety and autonomy, a research initiative it has driven since 1999.


One Step Ahead of the Engineers of the Future

Company: Shin-Etsu Chemical
Country: Japan
Sector: Materials
Published: 2/19/21
Summary: The firm considers its differentiator to be its constant investment in innovating to stay ahead of new demands from global customers, those companies that are engineering the futures of autonomous driving, the Internet of Things, 5G, AI and more.


Turning Geopolitical Stability into Gold

Company: Agnico Eagle Mines
Country: Canada
Sector: Materials
Published: 2/18/21
Summary:  What makes Agnico Eagle an innovation leader in the sector is its unique view on growing production by selecting only those projects in regions it assesses to be politically stable, with governments that are supportive of mining activities.


Japan’s Pioneer in Personalized Patient Care

Company: Chugai Pharmaceutical
Country: Japan
Sector: Health Care
Published: 2/16/21
Summary: Chugai considers itself to be a pioneer in “personalized patient healthcare,” an area it sees as not only the future of its own business, but all of healthcare.


The Future Will Be Printed in 3D

Company: Sandvik
Country: Sweden
Sector: Industrials
Published: 1/12/21
Summary: One example of an old school company embracing new tools is Sandvik. Based in Stockholm, Sweden, and specializing in metals and tools for manufacturing, mining and rock excavation, Sandvik was founded in 1862.


Driving GPS Innovation Since 1989

Company: Garmin
Country: United States
Sector: Consumer Discretionary
Published: 9/24/20
Summary: Garmin’s is one of those stories we used to see a lot: private companies made in the USA and spawned from the fruits of federal government innovation, in this case GPS.


Innovating Gold Production

Company: Franco-Nevada
Country: Canada
Sector: Materials
Published: 9/4/20
Summary: The company accomplishes this objective via royalties and streaming, a model designed to reduce investor risk, for example, eliminating unexpected expenses at the mines or protecting from the impact of rising commodity prices.


A Pandemic Study in Embracing Change

Company: Fisher & Paykel Healthcare
Country: New Zealand
Sector: Health Care
Published: 6/26/20
Summary: Consider New Zealand-based Fisher & Paykel Healthcare, a top 10 manufacturer in the global ventilator market, a company one could argue was already prepared for the unknown by its disciplined approach to investing in the future. The firm’s long-term innovation footprint is easy to spot.


South Korea’s Top Search Engine Dominates with Web Cartoons

Company: Naver
Country: South Korea
Sector: Communications Services
Published: 3/25/20
Summary:  This Knowledge Leader’s R&D teams focus on what the firm calls “ambient intelligence.” Search results use AI plus data collected from users, such as location, preferences and mobility.


Changing Economics Where Fluids Flow

Company: Energy Resources
Country: United States
Sector: Industrials
Published: 3/2/20
Summary:  All of ERI’s products have been designed to convert wasted energy into a usable asset, driving immediate cost savings for customers. Indeed, the firm’s water products save customers $2B annually in energy expenses and reduce carbon emissions to the tune of more than 11.5M metric tons of carbon dioxide emissions annually. 


Unlocking DNA to Protect Humanity from Disease (Including Coronavirus)

Company: Illumina
Country: United States
Sector: Health Care
Published: 2/20/20
Summary: A laser focus on innovation, Illumina says, is precisely the strategy that has established it as the global leader in genomic sequencing. It was a historic first to have published the complete genome of COVID-19 in such a short period after the outbreak was discovered. The genome has been shared “open source” style in a worldwide effort to enable research, diagnostics, treatments and potential drugs and vaccines.


Fusing the Physical World with the Digital

Company: Hexagon AB
Country: Sweden
Sector: Industrials
Published: 11/25/2019
Summary: Stockholm-based Hexagon’s unique focus on connecting data feeds, people, machines and processing power makes it the No. 3 most innovative company in Sweden, measured by R&D as a percent of sales, according to our intangible-adjusted data. 


When Cash Goes Digital

Company: Glory Ltd
Country: Japan
Sector: Industrials
Published: 11/6/2019
Summary: This Knowledge Leader is at work tapping semiconductor-powered technologies like digital currency and robotic automation to prepare for a future in which transactions will be just one part of a connected society on the Internet of Things.


Spawning a Knowledge Revolution in the Ocean

Company: Mowi
Country: Norway
Sector: Consumer Staples
Published: 9/16/2019
Summary: Salmon farming takes place in one of the world’s most valuable natural resources – the ocean – placing Mowi’s operations at the center of the global climate crisis. By providing one-fifth of the world’s salmon, Mowi is responsible for elevating health and sustainability standards in seafood farming not only for its own farms, but for the industry at large.


Etsy’s Virtual Marketplace Has Created 1.5 Million Jobs

Company: Etsy, Inc.
Country: United States
Sector: Consumer discretionary
Published: 6/26/2019
Summary:  Unlike Amazon, Etsy doesn’t warehouse or ship items. It never touches the custom t-shirts, or wedding favors or vintage 70s pantsuits sold on its website. Etsy makes money only when buyers complete a transaction with sellers, at which time Etsy takes a 5% slice of the cost of the item plus shipping costs. The firm aims to “keep commerce human” by connecting its record 60 million unique listings from around the world with their ideal buyers.


Streamlining R&D to Deliver Cancer Treatments Sooner

Company: PharmaEngine
Country: Taiwan
Sector: Health Care
Published: 5/24/19
Summary:  PharmaEngine was launched with the specific mission of getting to market faster with drug treatments. In our work, investment in innovation that so permeates the culture and mission of a company as to innovate not only its products and competitive position but also its business model is a frequent hallmark of a Knowledge Leader.


Under the Hood at the World’s Most Innovative Car Company

Company: Ferrari
Country: Italy
Sector: Consumer Discretionary
Published: 5/14/19
Summary: Invention in the world’s auto industry stands on the shoulders of one company alone, Ferrari. The Italian car maker spends a whopping 18.8% on R&D as a percent of sales, making it, by a wide margin, the most innovative car company in the world.


Tip of the Spear of Moore’s Law

Company: Cadence Design Systems
Country: United States
Sector: Information Technology
Published: 4/15/19
Summary: Making semiconductors is the most advanced manufacturing process in the world. Which is why firms like Cadence — which builds software used by engineers to design chips – are so critical to the pace of development in the semiconductor industry. Semiconductor makers can’t build new features into chips until Cadence builds them into the design. No wonder Cadence spends so much on R&D.


The Brains Behind Border Security

Company: Elbit Systems
Country: Israel
Sector: Industrials
Published: 2/22/19
Summary: Elbit’s most visible project at the moment is a cluster of 55 surveillance towers at the Nogales, Arizona, area of the US-Mexico border. Deployed in 2015 for the US Customs and Border Protection agency with more installations in 2016 and 2017, the towers cover a total of 200 miles, providing about 2,500 square miles of surveillance. Using radar, cameras and sensors, the towers quickly transmit data to a command center to provide situational awareness to patrol agents.


Novozymes, An Innovation Catalyst

Company: Novozymes
Country: Denmark
Sector: Materials
Published: 12/13/18
Summary: Novozymes is working to replace chemical processes with enzymes, naturally derived proteins that initiate biochemical reactions. If you eat bread or drink beer, you’re familiar with the work of enzymes. This Knowledge Leader ferments enzymes into tiny granules and liquids to help customers to produce more with less.


The Surprising Science Behind a Century of Soap

Company: Kao Corporation
Country: Japan
Sector: Consumer Staples
Published: 11/19/18
Summary: An analysis of Kao’s greatest hits reveals one strategy stands out: its commitment to innovation. After 130 years, Kao’s singular commitment to this vision remains, though the firm has refined it to a pursuit they call “interface science.”


How Energy’s Harsh Storms Led to a Greener, Smarter Future

Company: Equinor (Formerly Statoil)
Country: Norway
Sector: Energy
Published: 10/17/18
Summary: At the trough of the oil crisis in 2015, Equinor’s management was scrambling to prepare the company for an unknown future. Management believed that while the oil and gas industry would eventually recover, the industry would never be the same. The team decided to use the setback as an opportunity to reset the company. To embrace change. 


Inside Prada’s Knowledge Workshop

Company: Prada
Country: Italy
Sector: Consumer Discretionary
Published: 9/1/18
Summary: The real reason for Prada’s leadership is quickly identifiable to those of us who measure innovation. After nearly five decades of running what its CEOs describe as an “experimental workshop of ideas,” Prada has built up the hallmark of a Knowledge Leader company: rich stores of intangible capital that fuel future innovations. A look at our intangible-adjusted financial statements reveals the pattern.


Where Fanuc’s Robots Go, the Rest of Industry Follows

Company: Fanuc
Country: Japan
Sector: Industrials
Published: 8/16/18
Summary: With nearly half a million robots installed on factory floors in nearly every industry and every region of the world, Fanuc is in a unique position to illuminate the future of the knowledge revolution.


How Swatch Became the World’s Largest Watch Company

Company: Swatch Group
Country: Switzerland
Sector: Consumer Discretionary
Published: 6/27/18
Summary: Swatch Group not only lived to become the world’s largest watch company today, the company’s consistent and long-running investments in R&D, brand development and organizational capital have resulted in the accumulation of rich stores of knowledge, a key marker for Knowledge Leader status in our investment process.


Diageo, Toasting New Continents of Consumers

Company: Diageo
Country: UK
Sector: Consumer Staples
Published: 6/4/18
Summary: With about 730 million new consumers able to afford to drink alcohol over the next decade, 85% of them will be in the developing markets. Diageo aims to shape the drinking habits of an emerging middle class by offering famous brands like Crown Royal and J&B at affordable prices.


Why iRobot’s Robots Are Cleaning Up

Company: iRobot
Country: US
Sector: Consumer Discretionary
Published: 5/14/18
Summary: Through its military missions, iRobot struck on and began the multi-decade development of the technology that sets it apart from competitors. Reconnaissance tasks require a complex process of navigation and mapping. By trial and error, engineers developed an integrated system of software, hardware and electronics that enables its robots to complete complex tasks.


The Secret of Chevron’s Permian Dominance

Company: Chevron
Country: US
Sector: Energy
Published: 5/4/18
Summary: Chevron was one of the early Supermajors to revisit the Permian with new innovations a decade ago after production peaked in 1973 then fell off. New breakthroughs in hydraulic fracking industry-wide led production in the Permian to surpass its 1973 record for the first time in 2017. By the end of the year, production in the Permian is on track to hit a new all-time high.


Rio Tinto and the World’s First “Intelligent” Mine

Company: Rio Tinto
Country: UK
Sector: Materials
Published: 4/9/18
Summary: Later this year, Rio Tinto will seek board approval to spend $2.2B to build the world’s first “intelligent” mine, a network of robots and autonomous vehicles all working together on the site of the earth’s largest iron ore complex in Western Australia.


Will Shionogi’s R&D Machine Outrun the Flu?

Company: Shionogi
Country: Japan
Sector: Health Care
Published: 3/20/18
Summary: In the midst of the worst flu season in a decade, Japanese pharmaceutical company Shionogi & Co., Ltd. is making headlines for a new drug it says can kill the influenza virus in 24 hours with a single dose.

Disclosures

The information contained in our “Spotlights” is provided for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the securities or products mentioned and is not intended to be investment advice. Knowledge Leaders Capital may deviate from the investments or strategies implementation as discussed in the “Spotlights” and the opinions expressed therein are subject to change at any time for any reason without notice. Knowledge Leaders Capital makes no representations that the contents are appropriate for use in all locations, or that the transactions, securities, products, instruments, or services discussed are available or appropriate for sale or use in all jurisdictions or countries, or by all investors or counterparties.

The Knowledge Leaders investment process uses a proprietary methodology based on academic research. To create an intangible-adjusted financial history, we capitalize intangible investments—including R&D, advertising, brand development and employee training expenses—treating them as a company would tangible investments. Using these intangible-adjusted financial histories, we run each company through a proprietary Knowledge Leader screen. Companies that pass through every level of the screen emerge as Knowledge Leaders.

Past performance or historical trends are not necessarily indicative of future results.

Companies are selected for “Spotlights” based on high levels of innovation activities in their respective industries and illustrate innovation being employed across all sectors and geographies. Spotlight selection is separate from stock selection by the investment team. Spotlights are not necessarily representative of investment opportunities and can be selected regardless of investment performance or inclusion as a KLC holding.