SCHEDULE 13G/A: Orbis and Allan Gray Disclose Significant Stake in QXO, Inc., Holding Over 26% of Common Stock

Investment firms Orbis Investment Management Ltd and Allan Gray Australia Pty Ltd have jointly disclosed a substantial beneficial ownership of 26.7% in QXO, Inc.'s common stock.

Summary

• Orbis Investment Management Ltd and Allan Gray Australia Pty Ltd, collectively referred to as the 'Reporting Persons', have filed an Amendment No. 1 to Schedule 13G regarding their beneficial ownership in QXO, Inc.
• As of March 31, 2025, the Reporting Persons collectively beneficially own 109,409,191 shares of QXO, Inc. common stock.
• This aggregate amount represents 26.7% of the issuer's common stock.
• Orbis Investment Management Ltd holds the vast majority with 109,357,413 shares, representing 26.7% of the class, with sole voting and dispositive power.
• Allan Gray Australia Pty Ltd holds 51,778 shares, representing 0% of the class, with sole voting and dispositive power.
• The shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of QXO, Inc.
• Both reporting persons are classified as Non-U.S. Institutions (FI) equivalent to Investment Advisers (IA).

Sentiment

Score: 7

Explanation: The disclosure of a significant institutional stake by well-known investment firms is generally viewed positively as it indicates confidence in the company's prospects, even though the filing itself is a routine regulatory disclosure.

Positives

• The disclosure of a significant 26.7% stake by reputable institutional investors like Orbis Investment Management Ltd and Allan Gray Australia Pty Ltd can signal strong institutional confidence in QXO, Inc.
• The acquisition of shares in the ordinary course of business suggests a long-term investment perspective rather than short-term speculative intent.

Stakeholder Impact

• Shareholders: The disclosure of a large institutional stake may increase investor confidence and potentially influence stock price positively due to perceived validation from sophisticated investors.

Key Dates

Keywords

QXO Inc, Orbis Investment Management, Allan Gray Australia, Beneficial Ownership, SEC Filing, Schedule 13G, Institutional Investor, Common Stock, Equity Stake