Summer Investment Analyst (San Francisco)

Firm : Orbis Investment Management (U.S.), L.P.

Location : San Francisco

About Orbis:

We believe that to make a difference for clients, we must invest differently.


Orbis was founded in 1989 by Allan Gray to provide clients with performance-oriented global investment management services. Today, Orbis invests over $50 billion on behalf of clients across several long-only and absolute return strategies. The firm is headquartered in Bermuda, with investment teams located in Bermuda, Hong Kong, London, and San Francisco. Orbis is privately owned by its executives and founding family's charitable foundation.

We employ a long-term, fundamental, and contrarian investment philosophy, implemented through rigorous bottom-up research. We take concentrated positions and seek to hold those investments for three to five years or longer. Our flagship global equity strategy has outperformed its benchmark by approximately 4% per year since inception over 30 years ago.

Orbis seeks to provide an inclusive work environment where those who embrace individual accountability can grow and succeed.

U.S. Company Profile:

Orbis Investment Management (U.S.), L.P. is based in San Francisco and represents the U.S. efforts of the global firm, including research, investment management and client-facing efforts. We have a small and nimble team of ~ 15 professionals. Investment Analysts report to Matt Adams, Portfolio Manager and Head of the US investment team.


About the Opportunity:

Investment Analysts conduct fundamental, bottom-up research and identify investment opportunities based on risk and return prospects over a multi-year horizon. Our philosophy is to invest in shares that trade substantially below our assessment of the company's intrinsic value and then to hold these shares over the long-term. We believe this is the best way to generate wealth for our clients.


Being an Investment Analyst at Orbis is not for everyone. The Orbis approach depends on thinking differently. You must embrace individual accountability and flourish within a flat management structure that emphasizes contribution over seniority.

Our Investment Analysts are tasked with making investment recommendations in their area of specialization and are evaluated based on the long-term performance of their investment decisions. Investment Analysts maintain individual paper portfolios and are objectively measured and rewarded based on their individual performance.

As a Summer Investment Analyst, you will focus on a specific sector of the market and your summer could culminate in you recommending a stock for purchase in our funds. During your internship, we will provide you tools and mentorship to help you succeed, but the rest will be up to you.


You will report directly to the Portfolio Manager/Head of US Investment Team for Orbis Investment Management (U.S.), L.P. This role is based in San Francisco, but you will have the opportunity to collaborate with other Orbis professionals worldwide. Depending upon your performance, this internship could lead to a full-time position after you graduate.

Responsibilities:

A Summer Investment Analyst's key role is to generate primary research that results in investment recommendations for our funds. As such, your responsibilities will include, but may not be limited to:

• Performing rigorous and thoughtful, bottom-up analysis using both quantitative and qualitative approaches
• Developing an independent fact-driven perspective on key issues affecting individual stocks in the portfolio and those under consideration
• Authoring written reports that clearly articulate research conclusions
• Meeting with senior management teams, including CEOs and CFOs
• Participating and articulating your views in investment team meetings and contributing to stock discussions with other Orbis investment professionals that impact our decisions on fund management

Characteristics of successful candidates:

• Passion for deep thinking and analysis
• Exceptional analytical ability
• Intellectual curiosity and independent thinking
• Entrepreneurial mind-set
• Balanced temperament
• Humility
• Track record of exceptional achievement
• Ability to challenge the thinking and reasoning of others
• Alignment with Orbis Core Values
• Valid U.S. work authorization preferred

No prior finance or investing experience is required.

Instructions for Application

Successful applicants will advance through three phases of our application process:

1. Apply - Submit the following documents in PDF format by the application deadline:

• Cover letter - Note, Orbis offers Summer Investment Analyst opportunities in San Francisco, Hong Kong and London. If you apply to multiple positions, please indicate in your cover letter which office location would be your first choice.
• Resume - Your resume should include undergraduate GPA, SAT and GMAT scores (if applicable)

Please note, applications that do not include a cover letter will not be considered.

2. First-Round Interview - Selected applicants will complete an online Personal Profile Analysis (PPA) and participate in an initial virtual interview.


3. Final-Round Interview - Finalists will complete a stock analysis over a one-week period and participate in a final-round interview during which you will meet members of our San Francisco investment team.