Anyone got a take on Orbis' sell down? This could be mere rebalancing as the firm got in real early on this one and probably made 10 fold their money; hence a 0.5% portfolio holding would've grown to a 5% holding triggering a need to sell down to rebalance their portfolio. Also noticed that David Paradice has become substantial with a 6+% foot print on the share register, some of which must've been bought from Orbis. David is a very respected investor in the local market, which would give some additional weight to a portfolio rebalance rationale for Orbis' sell down. Keen to hear other views.
ACR Price at posting:
$4.13 Sentiment: LT Buy Disclosure: Held
