SCHEDULE 13G/A: Orbis Investment Management and Allan Gray Australia Disclose Significant 18.4% Stake in RXO, Inc.

Orbis Investment Management Limited and Allan Gray Australia Pty Ltd have jointly disclosed a combined beneficial ownership of 18.4% in RXO, Inc.'s common stock through a Schedule 13G Amendment.

Summary

• Orbis Investment Management Limited and Allan Gray Australia Pty Ltd, both classified as non-U.S. institutions equivalent to investment advisers, have filed an Amendment No. 4 to Schedule 13G regarding their beneficial ownership in RXO, Inc.
• As of March 31, 2025, the combined beneficial ownership of the reporting persons in RXO, Inc. common stock is 30,232,511 shares.
• This aggregate ownership represents 18.4% of the class of RXO, Inc. common stock.
• Orbis Investment Management Limited holds sole voting and dispositive power over 30,204,535 shares, which constitutes 18.4% of the class.
• Allan Gray Australia Pty Ltd holds sole voting and dispositive power over 27,976 shares, representing 0% of the class (due to rounding of a very small percentage).
• 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.

Sentiment

Score: 7

Explanation: The filing indicates significant institutional confidence in RXO, Inc. through a substantial equity stake, which is generally positive. However, it is a routine disclosure of ownership and does not provide operational or financial performance details.

Positives

• The significant institutional investment by Orbis Investment Management Limited and Allan Gray Australia Pty Ltd, totaling 18.4% of the common stock, indicates substantial confidence in RXO, Inc.
• The filing confirms that the shares are held for investment purposes in the ordinary course of business, suggesting a stable, long-term ownership interest rather than an activist or control-seeking agenda.

Risks

• While not explicitly for control, the concentration of a significant portion of shares (18.4%) in the hands of a few institutional investors could potentially influence future corporate actions or shareholder votes.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: Increased institutional ownership may be viewed positively, potentially signaling confidence and stability in the company's stock.

Key Dates

Keywords

RXO Inc., Orbis Investment Management Limited, Allan Gray Australia Pty Ltd, Schedule 13G, Beneficial Ownership, Common Stock, Institutional Investor, SEC Filing, Equity Stake, Investment Management