SCHEDULE: Orbis Investment Management Boosts Cinemark Stake to 12.3%

Orbis Investment Management Limited and Allan Gray Australia Pty Ltd have disclosed an aggregate beneficial ownership of 12.3% in Cinemark Holdings, Inc., with Orbis's stake exceeding 10%.

Summary

• Orbis Investment Management Limited and Allan Gray Australia Pty Ltd (collectively, the "Reporting Persons") have filed an Amendment No. 7 to Schedule 13G for Cinemark Holdings, Inc.
• The filing reports an aggregate beneficial ownership of 14,188,390 shares of Cinemark Holdings, Inc. common stock, representing 12.3% of the class, as of October 31, 2025.
• Orbis Investment Management Limited holds 14,123,142 shares, accounting for 12.3% of the class, and Allan Gray Australia Pty Ltd holds 65,248 shares, representing 0.1% of the class.
• This amendment was filed because Orbis Investment Management Limited's beneficial ownership of the Issuer's voting securities exceeded ten percent (10%) in aggregate as of October 31, 2025.
• The Reporting Persons state that the ownership increase resulted from ordinary course portfolio activity and not with the intent to influence or control Cinemark Holdings, Inc.
• The securities are held for investment purposes only, and the Reporting Persons remain eligible to report on Schedule 13G.

Sentiment

Score: 7

Explanation: The increased stake by a major institutional investor like Orbis Investment Management is generally a positive signal, indicating confidence in the company. The passive nature of the investment (for investment purposes only, no intent to influence control) reduces potential for activist-driven volatility. However, the filing itself does not provide operational or financial performance details of Cinemark, so the sentiment is based solely on the investment action.

Positives

• A significant institutional investor, Orbis Investment Management, has increased its stake in Cinemark Holdings, Inc. to over 10%, indicating confidence in the company's long-term prospects.
• The investment is stated to be for ordinary course portfolio activity and investment purposes only, suggesting a passive, long-term view rather than an activist stance that could introduce volatility.

Future Outlook

The Reporting Persons intend to file their regular quarterly Schedule 13G amendment by the applicable deadline to provide updated information as of quarter-end, which should be read together with this amendment.

Industry Context

This filing indicates continued institutional interest in the cinema exhibition industry, represented by Cinemark Holdings, Inc. The passive nature of the investment suggests a belief in the sector's recovery or stability without an intent to drive strategic changes.

Stakeholder Impact

• Shareholders: The increased institutional ownership by Orbis Investment Management could be viewed positively, potentially signaling confidence in Cinemark's stock and providing a degree of stability to the shareholder base.

Next Steps

• The Reporting Persons intend to file their regular quarterly Schedule 13G amendment by the applicable deadline to provide updated information as of quarter-end.

Key Dates

Recommendation

The filing indicates a significant institutional investor, Orbis Investment Management, has increased its stake in Cinemark Holdings, Inc. to 12.3%, signaling confidence. However, as a Schedule 13G, it provides no operational or financial performance data to warrant a 'buy' or 'sell' recommendation. The investment is stated to be for passive investment purposes, suggesting no immediate catalyst for significant price movement beyond market reaction to the ownership disclosure itself. Therefore, a 'hold' recommendation is appropriate, awaiting further fundamental company updates.

Keywords

Cinemark Holdings Inc, Orbis Investment Management, Allan Gray Australia, Schedule 13G, Beneficial Ownership, Institutional Investment, Common Stock, Investment Adviser, SEC Filing