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Orbis

Dec 2024 → Dec 2025 · Publishes quarterly · 6 funds

Our archive holds 22 letters from Orbis, behind 18 investment theses. Every quote below is copied verbatim from the letter it came from.

Orbis’s own letters page
22
Letters
0
Companies
0
Moves
18
Theses

Theses · 18

  • Genmab A/S
    December 2025

    Genmab A/S is a Danish biotech with a robust pipeline and founder-led R&D, trading below the value of existing cash flows and offering significant upside optionality.

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  • Alphabet Inc.
    December 2025

    Alphabet Inc. is a dominant search and AI platform with synergistic data assets, vertical integration, and attractive long-term upside that justified its reintroduction to the portfolio.

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  • ICON plc
    December 2025

    ICON plc is a leading CRO trading at a depressed multiple due to temporary headwinds but supported by strong secular demand for healthcare innovation.

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  • IMAX Corporation
    December 2025

    IMAX Corporation is a global premium theatrical technology platform with scarce, high-demand assets and a powerful brand benefiting from the value of the theatrical window and local content growth.

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  • Alnylam Pharmaceuticals
    September 2025

    Alnylam Pharmaceuticals is a leading innovator in RNA-interference therapeutics, recently achieving regulatory approval for its best-in-class ATTR-CM treatment, Amvuttra, which is exceeding market expectations and positioning the company for profitability.

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  • Alsok
    September 2025

    Alsok is a promising investment opportunity due to its stable growth, strong cash flows, and undervalued stock, with potential for balance sheet optimization.

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  • CRISPR Therapeutics
    September 2025

    CRISPR Therapeutics is currently trading at a discount to its cash and the value of its approved therapy, Casgev, which targets sickle-cell disease and ß-thalassemia, despite its strong competitive position and growth potential.

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  • Genmab
    September 2025

    Genmab is undervalued due to market overreaction to impending patent expirations, offering a unique opportunity to invest in a company with a strong drug discovery platform and late-stage assets while trading below the value of its approved medicines.

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  • Jardine Matheson
    September 2025

    Jardine Matheson is a storied Asian conglomerate focused on capital allocation across leading businesses in consumer services, real estate, and automotive sectors, currently undervalued with strong long-term growth potential.

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  • Insmed
    September 2025

    Insmed is poised for sustained profitability following the FDA approval of its bronchiectasis treatment, brensocatib, while also advancing its promising pipeline in respiratory diseases.

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  • Kiwoom Securities
    September 2025

    Kiwoom Securities is a leading online broker in Korea that has achieved over 30% of retail inflows despite a competitive market, offering compelling long-term returns potential even at a low valuation.

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  • Sumitomo Electric Industries
    June 2025

    Sumitomo Electric Industries is currently facing short-term tariff uncertainty in the auto sector but is well-positioned for long-term growth due to rising electrical content in vehicles and expanded earnings in its Environment & Energy and Info-communications businesses.

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Letter archive · 22

2025

2024

Funds · 6

  • Orbis Emerging Markets Equity5
  • Orbis Global Equity5
  • Orbis International Equity5
  • Orbis Japan Equity5
  • Orbis Global Balanced2
  • Orbis0

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