Overstone Global Equity Fund
Overstone Global All Cap Value Fund
Global Value
Sep 2025 → Dec 2025
Our archive holds 1 letter from this strategy, behind 3 investment theses and positions in 6 companies. Every quote below is copied verbatim from the letter it came from.
1 letter in a year · follow all of Overstone Global Equity Fund for every strategy.
What it bought and sold
- New positionSwatch Group AGDec 2025
We made one new purchase in the quarter Swatch.
Given this re-rating, we have been reducing the position during the quarter.
As this thesis has weakened, we exited the position during the quarter.
Also held
- Exor N.V.
- Lukoil PJSC
Its investment theses
- Exor N.V.Dec 2025Exor 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.
- The Swatch Group AGDec 2025The Swatch Group is a Swiss watchmaker with significant tangible assets and operating leverage potential, trading at a valuation implying substantial upside to intrinsic value.
- CK Hutchison Holdings LimitedSep 2025CK Hutchinson is an undervalued conglomerate with a diversified portfolio of attractive assets trading at historically low multiples, making it a compelling investment opportunity.