Orbis Investment Management Takes Big Stake in XPO I think that puts Orbis right behind Jacobs in holdings oh oh
Bermuda-based Orbis is now transportation services provider XPO’s second-largest shareholder after taking a 12.35% stake in the company, according to an SEC filing.
By ROBBIE WHELAN
Nov. 10, 2015 5:10 p.m. ET
Orbis Investment Management, a Bermuda-based fund manager, has increased its stake in transportation company XPO Logistics Inc. to 12.35%, according to a filing Tuesday with the U.S. Securities and Exchange Commission.
The stake is valued at about $440 million and makes Orbis the logistics company’s second-largest shareholder, according to FactSet. As of June 30th, Orbis owned just 3.7% of XPO’s outstanding shares.
A spokesman for Orbis did not return requests for comment.
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Founded in 1989 by South African investor Allan Gray, Orbis has more than $40 billion in assets under management, according to the investment firm’s website.
Write to Robbie Whelan at robbie.whelan@wsj.com