SCHEDULE 13G/A: Orbis Investment Management and Allan Gray Australia Disclose Significant 11.3% Stake in GXO Logistics

Orbis Investment Management Limited and Allan Gray Australia Pty Ltd have jointly disclosed a combined beneficial ownership of 11.3% in GXO Logistics, Inc. common stock.

Summary

• Orbis Investment Management Limited and Allan Gray Australia Pty Ltd, collectively referred to as the "Reporting Persons," have filed an Amendment No. 6 to Schedule 13G.
• The filing discloses their beneficial ownership in GXO Logistics, Inc. common stock, CUSIP 36262G101.
• As of the event date of March 31, 2025, the aggregate beneficial ownership by the Reporting Persons is 13,473,172 shares.
• This aggregate amount represents 11.3% of the class of GXO Logistics, Inc. common stock.
• Orbis Investment Management Limited holds 13,469,861 shares, representing 11.3% of the class, with sole voting and dispositive power.
• Allan Gray Australia Pty Ltd holds 3,311 shares, representing 0% of the class, with sole voting and dispositive power.
• Both entities are classified as Financial Institutions (FI) equivalent to Investment Advisers (IA).
• The securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of the issuer.

Sentiment

Score: 5

Explanation: The document is a factual disclosure of beneficial ownership and does not contain positive or negative operational or financial news, thus maintaining a neutral sentiment.

Positives

• The disclosure of a significant institutional holding by reputable investment firms like Orbis and Allan Gray can be perceived as a vote of confidence in GXO Logistics, Inc.

Risks

• The filing explicitly states that the shares were not acquired for the purpose of changing or influencing the control of the issuer, mitigating potential activist investor risks.

Future Outlook

NA

Management Comments

• "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."
• "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)."

Industry Context

NA

Stakeholder Impact

• Shareholders: Provides transparency regarding significant institutional holdings, which can influence investor perception and potentially stock liquidity.
• Management: Awareness of a large institutional investor base, though the filing explicitly states no intent to influence control.

Key Dates

Keywords

GXO Logistics, Orbis Investment Management Limited, Allan Gray Australia Pty Ltd, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investor, SEC Filing, Logistics, Supply Chain