SCHEDULE 13G/A: Orbis Investment Management Group Discloses 18.4% Stake in QXO, Inc. via Amended Schedule 13G

Orbis Investment Management Ltd and its affiliates have filed an amended Schedule 13G, revealing a combined beneficial ownership of 18.4% of QXO, Inc.'s common stock as of May 31, 2025.

Summary

• Orbis Investment Management Ltd, Allan Gray Australia Pty Ltd, and Orbis Investment Management (U.S.), L.P. (collectively, the "Reporting Persons") have filed Amendment No. 2 to Schedule 13G for QXO, Inc.
• As of May 31, 2025, the Reporting Persons collectively beneficially own 105,416,732 shares of QXO, Inc. common stock.
• This aggregate ownership represents 18.4% of the class of QXO, Inc.'s common stock.
• Orbis Investment Management Ltd holds the largest portion with 104,023,697 shares, representing 18.1% of the class, with sole voting and dispositive power.
• Orbis Investment Management (U.S.), L.P. holds 1,358,135 shares, representing 0.2% of the class, with sole voting and dispositive power.
• Allan Gray Australia Pty Ltd holds 34,900 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 control of the issuer.

Sentiment

Score: 7

Explanation: The disclosure of a substantial 18.4% beneficial ownership by a major investment group like Orbis in QXO, Inc. is generally a positive signal, indicating strong institutional confidence in the company's long-term prospects, especially given the stated passive investment intent.

Positives

• Significant institutional investment: Orbis Investment Management Group, a reputable investment firm, holds a substantial 18.4% stake in QXO, Inc., indicating confidence in the company.
• Passive investment intent: The filing explicitly states the shares are held in the ordinary course of business and not for control purposes, which can signal stability and a long-term investment horizon from a major shareholder.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: Increased institutional ownership can lead to greater stability in the stock and potentially attract more institutional interest. It also provides transparency regarding significant holders.

Key Dates

Keywords

QXO Inc., Schedule 13G, SEC filing, beneficial ownership, institutional investor, Orbis Investment Management, Allan Gray Australia, common stock, equity stake