SCHEDULE: Orbis, Allan Gray Disclose 5.9% Stake in Nebius Group

Orbis Investment Management Limited and Allan Gray Australia Pty Ltd jointly reported a 5.9% beneficial ownership in Nebius Group N.V.'s Class A Common Stock.

Summary

• Orbis Investment Management Limited and Allan Gray Australia Pty Ltd (collectively, "Reporting Persons") filed an Amendment No. 3 to Schedule 13G regarding Nebius Group N.V.'s Class A Common Stock.
• Orbis Investment Management Limited beneficially owns 12,788,453 shares, representing 5.9% of the Class A Common Stock.
• Allan Gray Australia Pty Ltd beneficially owns 8,090 shares, representing 0% of the Class A Common Stock.
• The aggregate amount beneficially owned by both Reporting Persons is 12,796,543 shares, which constitutes 5.9% of the class.
• Both Reporting Persons are classified as Non-U.S. Institutions (FI) equivalent to Investment Advisers (IA).
• Each Reporting Person disclaims beneficial ownership of any shares beneficially owned by the other and states they are not a group for Section 13(d)(3) purposes.

Sentiment

Score: 5

Explanation: This is a factual ownership disclosure filing (Schedule 13G Amendment No. 3) and does not contain information that would typically indicate positive or negative sentiment regarding the issuer's operational or financial performance. The sentiment is neutral as it simply reports a change in beneficial ownership by institutional investors.

Positives

• Significant institutional investment is disclosed, with Orbis Investment Management Limited holding 12,788,453 shares, representing 5.9% of Nebius Group N.V.'s Class A Common Stock.
• Allan Gray Australia Pty Ltd also holds 8,090 shares, contributing to the overall institutional presence.

Future Outlook

NA

Management Comments

• To the best of my knowledge and belief, the securities 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.
• 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 the significant institutional holdings in Nebius Group N.V.
• Investment Community: Offers insight into the interest of institutional investors, Orbis Investment Management Limited and Allan Gray Australia Pty Ltd, in Nebius Group N.V.

Key Dates

Keywords

Nebius Group N.V., Class A Common Stock, Orbis Investment Management Limited, Allan Gray Australia Pty Ltd, Schedule 13G, Beneficial Ownership, Institutional Investment, SEC Filing