SCHEDULE: Corpay Stakeholder Filing: Orbis & Allan Gray Report Holdings

Orbis Investment Management Limited, Allan Gray Australia Pty Ltd, and Orbis Investment Management (U.S.), L.P. have filed a Schedule 13G detailing their beneficial ownership of Corpay, Inc. common stock as of March 31, 2026.

Summary

• This filing is a Schedule 13G, an amendment to a previous filing, indicating changes in beneficial ownership of Corpay, Inc. common stock.
• The reporting persons are Orbis Investment Management Limited, Allan Gray Australia Pty Ltd, and Orbis Investment Management (U.S.), L.P.
• As of March 31, 2026, the aggregate amount of Corpay, Inc. common stock beneficially owned by these entities is 5,345,425 shares.
• This represents 7.9% of the class of securities.
• Orbis Investment Management Limited holds the largest portion, with 5,075,148 shares (7.5% of the class).
• Orbis Investment Management (U.S.), L.P. holds 266,960 shares (0.4% of the class).
• Allan Gray Australia Pty Ltd holds 3,317 shares (0% of the class).
• Each reporting person disclaims beneficial ownership of shares held by the other reporting persons.
• The filing certifies that the securities were acquired and are held in the ordinary course of business and not for the purpose of influencing control of the issuer.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing neutrally as it is a routine disclosure of beneficial ownership and does not provide new operational or financial performance information about Corpay, Inc.

Positives

• Significant aggregate beneficial ownership of 7.9% by the reporting entities indicates substantial investor interest in Corpay, Inc.
• The reporting entities are established investment managers, suggesting a strategic and long-term investment approach.
• The filing confirms that the shares are held in the ordinary course of business, implying stable ownership rather than activist intent.

Negatives

• The filing does not contain specific financial performance data or operational updates, limiting the assessment of the company's current health.
• The aggregate ownership of 7.9% is substantial but does not represent a controlling stake.

Risks

• While not explicitly stated as risks in this filing, significant ownership by investment firms can lead to potential pressure on management for strategic changes or performance improvements.
• The disclaimer of beneficial ownership between reporting persons could imply complex fund structures or separate investment mandates, which might introduce operational complexities.

Future Outlook

This filing is primarily a disclosure of ownership and does not contain forward-looking statements or specific guidance regarding Corpay, Inc.'s future performance.

Management Comments

• Each Reporting Person disclaims beneficial ownership of any shares beneficially owned by any other Reporting Person.
• By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
• By signing below I certify that, to the best of my knowledge and belief, the foreign regulatory scheme applicable to Orbis Investment Management Limited and Allan Gray Australia Pty Ltd is substantially comparable to the regulatory scheme applicable to the functionally equivalent U.S. institution(s).
• I also undertake to furnish to the Commission staff, upon request, information that would otherwise be disclosed in a Schedule 13D.

Industry Context

StockSavvy.ai notes that Schedule 13G filings are common for institutional investors accumulating significant stakes in publicly traded companies. The aggregate 7.9% ownership by Orbis and Allan Gray suggests these firms view Corpay, Inc. as a potentially attractive investment within the financial technology or business services sector, where Corpay operates.

Stakeholder Impact

• Shareholders: The significant stake held by institutional investors may signal confidence in the company's future, potentially influencing market perception. However, the disclaimer of beneficial ownership between reporting entities could create complexity.
• Management: The substantial ownership may lead to increased scrutiny from these investors, potentially influencing strategic decisions or performance expectations.
• Creditors: No direct impact indicated by this filing.

Next Steps

• Continued monitoring of future SEC filings by Orbis Investment Management Limited, Allan Gray Australia Pty Ltd, and Orbis Investment Management (U.S.), L.P. for any changes in their beneficial ownership of Corpay, Inc. stock.
• Review of Corpay, Inc.'s subsequent financial reports and disclosures for operational and strategic updates.

Key Dates

Keywords

Corpay Inc., Schedule 13G, Orbis Investment Management Limited, Allan Gray Australia Pty Ltd, Orbis Investment Management (U.S.), L.P., Beneficial Ownership, Common Stock, SEC Filing, Investment Management, Securities Exchange Act