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Horos Asset Management Quarterly Letter To Our Co-Investors – July 2025

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This article was written by

Horos is an asset management firm with a team that combines the energy of youth and the wisdom of experience. We all hold in common our passion for investment, and our belief that value investing is the optimal investment philosophy for the long term. This passion has been rewarded with consistent and satisfactory results over the years, as well as the Morningstar and Expansión-Allfunds awards for the best equity fund in Spain in 2014 and 2015, and the Citywire 2016 Award for the best Spanish Equity Team.

Analyst’s Disclosure:I/we have a beneficial long position in the shares of ZEGONA either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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