Overstone Global Equity Fund
Our archive holds 6 letters from Overstone Global Equity Fund, behind 9 investment theses. Every quote below is copied verbatim from the letter it came from.
Theses · 9
- December 2025
HelloFresh is the leading meal-kit provider with improving customer quality, strong free cash flow and buybacks, and guidance for attractive margins supporting a low earnings multiple.
Read the full thesis - December 2025
Trigano S.A. is Europe’s leading RV manufacturer with scale advantages, strong cash generation, consolidation potential and supportive structural tailwinds at a sub-10x P/E entry point.
Read the full thesis - December 2025
Merck KGaA is a family-controlled life science and semiconductor materials leader with improving end-market trends and a diversified pharma business, acquired at a reasonable ~14x P/E after temporary headwinds.
Read the full thesis - December 2025
Exor is a diversified holding company with aligned management, a strong compounding track record, and a share price trading at a large discount to its sum-of-the-parts value.
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The Swatch Group is a Swiss watchmaker with significant tangible assets and operating leverage potential, trading at a valuation implying substantial upside to intrinsic value.
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Gruma, S.A.B. de C.V. is a global tortilla and corn flour producer whose compressed valuation and shareholder returns offer upside with downside support.
Read the full thesis - September 2025
Ayala Corp is an undervalued Philippine conglomerate trading at a 50% discount to its net asset value, supported by its three major holdings in real estate, banking, and telecommunications.
Read the full thesis - September 2025
CK Hutchinson is an undervalued conglomerate with a diversified portfolio of attractive assets trading at historically low multiples, making it a compelling investment opportunity.
Read the full thesis - September 2025
Breedon is a vertically integrated building materials company with a strong position in the UK and Ireland, currently facing weak demand but well-positioned for future growth in both markets.
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Letter archive · 6
Funds · 6
- Overstone Emerging Markets Equity Fund1
- Overstone Global All Cap Value Fund1
- Overstone Global Equity Fund1
- Overstone International Value Fund1
- Overstone UCITS Global Smaller Companies Fund1
- Overstone World All Cap Equity Fund1
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