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Orbis says AI focus is reshaping its Global Equity Strategy
In the first half of 2026, Orbis Global Equity Strategy returned 19.9%, outpacing the MSCI All Country World Index by 7.8%.
Orbis Investment Management released its Q2 2026 investor letter for the Orbis Global Equity Strategy, describing an AI centered framework it uses to select stocks rather than treating AI as a single exposure. According to the firm, the strategy’s Global Equity Strategy returned 19.9% in the first half of 2026, beating the MSCI All Country World Index by 7.8%, while the market environment showed “narrow breadth” during the quarter. The letter says Orbis groups its AI investments into four categories, Core for direct exposure, Enablers for supporting businesses, AI Powered for companies enhanced by AI, and Overlooked for resilient firms the firm believes the market mispriced as AI casualties.
Orbis also highlights Ryan Specialty Holdings, Inc. as part of its view within that framework. The firm describes Ryan Specialty as a specialty insurance services company that provides distribution, underwriting, product development, administration, and risk management services.
The letter notes that Ryan Specialty Holdings closed at $44.34 per share on August 24, 2026, with a one month return of -3.6% and a 52 week decline of 23.2%, and it gives the company a market capitalization of $17.29 billion. Orbis frames its approach as disciplined and evidence based, saying it aims to maintain strong but flexible convictions in a fluctuating market.