9AT: ORBIS INVESTMENT MANAGEMENT (U.S.), L.P.

other names

ORBIS INVESTMENT MANAGEMENT (U.S.), L.P.
ORBIS INVESTMENT MANAGEMENT (U.S.), LLC

Adviser Profile

As of Date	04/28/2025
ADV Location	SAN FRANCISCO, CA, United States
Adviser Type - Large advisory firm
Number of Employees	14 8%
of those in investment advisory functions	7 -13%
Registration	SEC, Approved, 02/19/2019
Other registrations (2)	SEC, ERA - Withdrawn, 01/11/2019 California, ERA - Withdrawn, 01/11/2019

AUM^*	124,591,770 -22%
of that, discretionary	124,591,770 -22%
Private Fund GAV^*	124,591,770 -36%
Avg Account Size	124,591,770 -22%
SMA’s	No
Private Funds	1
Contact Info	+1 xxxxxxx
Websites

Client Types

- Pooled investment vehicles

Advisory Activities

- Portfolio management for pooled investment vehicles

Compensation Arrangments

- A percentage of assets under your management
- Performance-based fees

Fund Type	Count	GAV
Fund TypeHedge Fund	Count1	GAV$124,591,770

Adviser	Hedge Fund	Liquidity Fund	Private Equity Fund	Real Estate Fund	Securitized Asset Fund	Venture Capital Fund	Other Fund	Total Private Fund GAV	AUM	#Funds
Adviser P.A.W. CAPITAL PARTNERS, LP	Hedge Fund93.6m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV93.6m	AUM168.2m	#Funds1
Adviser MITCHELL PORTFOLIO MANAGEMENT, L.P.	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM163.0m	#Funds-
Adviser X CUBED CAPITAL MANAGEMENT LLC	Hedge Fund140.7m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV140.7m	AUM170.4m	#Funds2
Adviser GLAXIS CAPITAL MANAGEMENT, LLC	Hedge Fund131.6m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV131.6m	AUM162.1m	#Funds1
Adviser BROOKLANDS	Hedge Fund248.7m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV248.7m	AUM844.5m	#Funds9
Adviser ONE68 GLOBAL CAPITAL, LLC	Hedge Fund500.0m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV500.0m	AUM500.0m	#Funds3
Adviser SANTIAGO CAPITAL, LLC	Hedge Fund2.2m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV2.2m	AUM181.8m	#Funds3
Adviser 325 CAPITAL	Hedge Fund55.3m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV55.3m	AUM270.5m	#Funds3
Adviser OPPVEST, LLC	Hedge Fund182.7m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV182.7m	AUM182.7m	#Funds3
Adviser COINBASE ASSET MANAGEMENT, LLC	Hedge Fund191.1m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV191.1m	AUM733.7m	#Funds6

Brochure Summary

Overview

Firm Description Orbis Investment Management (U.S.), L.P. (“Orbis”) is a fundamental, long-term, contrarian investment adviser that limits its focus to U.S. equities. Orbis is a member of the global Orbis group of companies, which was founded in 1989 (the “Orbis Group”). Orbis is based in San Francisco and was established in the United States in 2007. A majority of the beneficiary interests in Orbis are owned by Allan & Gill Gray Philanthropy Trust, a charitable trust. Orbis and the Orbis Group are ultimately controlled by Allan & Gill Gray Foundation. Allan Gray was the founder of the Orbis Group. Advisory Services Orbis has two clients:  Orbis is the portfolio manager of a limited partnership that invests primarily in U.S. equities (the “Orbis U.S. Equity Fund”). The Orbis U.S. Equity Fund is a “3(c)(7) fund” restricted to investors who are qualified purchasers or otherwise eligible under Section 3(c)(7) of the Investment Company Act of 1940, as amended.  Orbis provides written investment recommendations regarding U.S. equity securities

to Orbis Investment Management Limited, a member of the Orbis Group. Orbis does not manage any separately managed accounts. The Orbis U.S. Equity Fund is not subject to an individual investor’s investment restrictions, but the Fund is managed in accordance with the private placement memorandum of the Fund. Orbis tailors its advisory services to the specific investment objective and investment restrictions set forth in the investment advisory agreement between Orbis and Orbis Investment Management Limited. Orbis does not provide financial planning services and does not provide tax, accounting, or legal services or advice, other than services provided to other members of the Orbis Group. As of January 1, 2024, Orbis managed on a discretionary basis $196 million in assets, representing all the assets of the Orbis U.S. Equity Fund. Orbis does not manage any assets on a non-discretionary basis over which it provides continuous and regular supervisory or management services. As of January 1, 2024, the Orbis Group managed approximately $36 billion in assets.

ORBIS INVESTMENT MANAGEMENT (U.S.), L.P.

Adviser Profile

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Compensation Arrangments

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