Orbis International Equity Strategy’s Q4 2025 Investor Letter

Orbis Investment Management released its Q4 2025 investor letter for “Orbis SICAV International Equity Fund”. The Strategy reported a positive year in 2025, with returns driven more by stock-specific research rather than post-pandemic valuation rebounds. The letter attributes performance to disciplined bottom-up investing and improved execution across several portfolio holdings. It also notes that rising global government debt supports the case for equities as core real assets, with non-US markets offering especially attractive valuations. Orbis suggests the long period of US market dominance may be starting to shift and remains focused on buying fundamentally undervalued businesses where mispricing can correct over time. In addition, you can check the Fund’s top five holdings to know its best picks in 2025.

A copy of Orbis SICAV International Equity Fund’s Q4 2025 investor letter can be downloaded here.