LongTGSSep 2026
TGS ASA
Horos trimmed TGS after the seismic-data company more than doubled from its 2025 lows, but it remains one of the larger positions in the international portfolio. The business…
Horos Value Internacional
Global value equities focused on bottom-up fundamental analysis, conservative valuation and margin of safety.5 published ideas
Horos Value Internacional is a global equity value fund managed by Horos Asset Management. The team emphasizes margin of safety, bottom-up company analysis and conservative estimates of future cash flow and value, with the objective of satisfactory and sustainable long-term returns.
Ideas from Horos Value Internacional
LongXPROSep 2026
Expro Group Holdings N.V.
Horos increased Expro after its share price came under pressure despite results that contained no major surprises. The acquisition of Enhanced Drilling adds pressure-management…
LongSUZSep 2026
Suzano S.A.
Horos initiated a position in Suzano after reallocating capital away from stainless steel. Suzano is the world's largest pulp producer, with capacity almost three times that of…
LongBOLSep 2026
Bolloré SE
Horos initiated a position in Bolloré because it believes the holding company's complexity has prevented the market from recognizing the value of its assets. The group has been…
LongODETSep 2026
Compagnie de l'Odet SE
Horos also initiated a position in Compagnie de l'Odet, the central holding company through which the Bolloré family controls the wider group. The unusual cross-holding structure…
Letters covered
- Quarterly Letter to our Co-investors | July 2026September 8, 2026
Source PDFs are not republished here; only extracted ideas and quotes.