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Ennismore

Dec 2024 → May 2026 · Publishes monthly · 3 funds

Our archive holds 25 letters from Ennismore, behind 36 investment theses and positions in 3 companies. Every quote below is copied verbatim from the letter it came from.

Ennismore’s own letters page
25
Letters
3
Companies
1
Moves
36
Theses

What they bought and sold · 1 move

Companies held · 3

Every company Ennismore has disclosed a position in across our archive, with the letter that last mentioned it.

Theses · 36

  • NICE Information Service
    May 2026

    NICE Information Service is a South Korean credit bureau with scale-driven database advantages, high ROIC, growth options, and a low valuation.

    Read the full thesis
  • Genuit Group Plc
    February 2026

    Genuit Group Plc is a leading UK plumbing and ventilation products manufacturer with durable scale advantages, regulatory and infrastructure tailwinds, operational improvements under new management, and attractive valuation upside versus peers.

    Read the full thesis
  • Midac Holdings Co Ltd
    February 2026

    Midac Holdings Co Ltd is a Japanese landfill operator with strong industry barriers, high margins, improving free cash flow post-capex, and an attractive valuation offering substantial upside potential.

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  • Catella AB
    January 2026

    Catella AB is a Swedish property investment manager with a high-quality recurring PIM platform, margin expansion and recovery tailwinds, refreshed leadership, and an attractive valuation implying significant upside.

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  • SaraminHR Co., Ltd.
    January 2026

    SaraminHR Co., Ltd. is a Korean online job classifieds platform with duopoly positioning, cyclical recovery potential, and a negative enterprise value after divesting Remember Co, offering substantial upside and prudent capital allocation.

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  • Auto Trader Group plc
    December 2025

    Auto Trader Group plc is the dominant UK auto classifieds platform addressing transaction risk with Deal Builder and buying back stock, trading at a trough multiple with potential inflections ahead.

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  • SAF-Holland SE
    December 2025

    SAF-Holland is a top-two trucking components player with resilient aftermarket profits and significant upside from a low-cycle valuation.

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  • Spirax Group plc
    December 2025

    Spirax Group plc is a high-quality engineering company with multiple recovery drivers across biopharma, China STS, and semiconductors, trading at a reasonable valuation.

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  • Paradox Interactive AB
    December 2025

    Paradox Interactive AB is a strategy game publisher with durable franchises and a looming cash flow inflection, offering attractive value despite recent share price weakness.

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  • D’Ieteren Group SA
    December 2025

    D’Ieteren Group SA is a holding company whose core asset Belron is set for US volume recovery and offers significant upside versus implied valuation with IPO optionality.

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  • Wise plc
    December 2025

    Wise plc is a leading cross-border payments platform with accelerating growth, rapid Platform adoption, and a compelling valuation supported by strong unit economics.

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  • Secure Trust Bank Plc
    December 2025

    Secure Trust Bank is a refocused UK specialist lender with stronger capital, improved returns prospects, and significant upside from a depressed valuation.

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Letter archive · 25

2026

2025

2024

Funds · 3

  • Ennismore European Smaller Companies Fund13
  • Ennismore Global Equity Fund8
  • Ennismore Global Smaller Companies Fund4

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