SCHEDULE 13G/A: Orbis Investment Management and Allan Gray Australia Disclose Significant Stake in Nebius Group N.V.

Orbis Investment Management Limited and Allan Gray Australia Pty Ltd have jointly filed an amended Schedule 13G, revealing their beneficial ownership of 6.7% of Nebius Group N.V.'s Class A Common Stock as of March 31, 2025.

Summary

• Orbis Investment Management Limited and Allan Gray Australia Pty Ltd, both financial institutions, have filed an Amendment No. 1 to Schedule 13G regarding their beneficial ownership in Nebius Group N.V.
• As of March 31, 2025, the reporting persons collectively beneficially own 15,702,222 shares of Nebius Group N.V.'s Class A Common Stock.
• This aggregate ownership represents 6.7% of the Class A Common Stock outstanding.
• Orbis Investment Management Limited holds the vast majority of this stake, with sole voting and dispositive power over 15,680,459 shares, representing 6.7% of the class.
• Allan Gray Australia Pty Ltd holds sole voting and dispositive power over 21,763 shares, representing 0% of the class (due to rounding).
• Both entities certify that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.
• The reporting persons explicitly state they do not represent themselves as a 'group' for the purposes of Section 13(d)(3) of the Securities Exchange Act of 1934, and each disclaims beneficial ownership of shares held by the other.

Sentiment

Score: 7

Explanation: The document is a routine regulatory filing disclosing significant institutional ownership. The sentiment is neutral to slightly positive as it indicates substantial institutional interest in the company, without any negative disclosures.

Positives

• Increased transparency regarding significant institutional ownership in Nebius Group N.V.
• The filing indicates that the investment was made in the ordinary course of business, suggesting a long-term investment perspective rather than an activist intent.

Negatives

• The document does not present any negative financial or operational information about Nebius Group N.V. as it is a beneficial ownership disclosure.

Risks

• The reporting persons explicitly disclaim forming a 'group' for Section 13(d)(3) purposes, which could be a point of clarification for regulatory interpretation, though it is a standard disclaimer in such filings.

Future Outlook

This Schedule 13G filing does not provide any forward-looking statements or guidance from Nebius Group N.V. or the reporting entities regarding the issuer's future performance.

Industry Context

This filing is a standard disclosure of significant institutional ownership, common in the financial industry. It reflects a major investment management firm and an Australian investment firm taking a substantial, passive stake in a publicly traded company, Nebius Group N.V. Such disclosures provide transparency on the institutional investor landscape for a given company.

Stakeholder Impact

• Shareholders: The disclosure of significant institutional ownership by reputable firms like Orbis and Allan Gray may be viewed positively, potentially signaling confidence in the company's long-term prospects. It also provides transparency on the shareholder base.

Key Dates

Keywords

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