# Orbis Limited

Orbis Limited is an Asset Manager based in San Francisco, United Kingdom.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** San Francisco, United Kingdom
- **Region:** Europe
- **Address:** London, United Kingdom
- **Founded:** 1989
- **Assets under management:** $20B - $30B (Altss estimate)
- **Website:** orbis.com
- **LinkedIn:** https://www.linkedin.com/company/orbis-limited

## About

Orbis Limited is an SEC-registered investment adviser in San Francisco, CA, registered since 2019. The firm manages approximately $405 million in regulatory assets. It has 18 employees and 9 investment advisers.

## Sectors

- Financials
- Consumer Discretionary
- Energy
- Industrials
- Information Technology

## Offices

- Manchester, United Kingdom

## People

- William Gray — Chairman
- Adam Karr — President

## Questions

### What is the relationship between Orbis Limited and Allan Gray?

Orbis Limited and Allan Gray are separate legal entities with distinct client bases but share a common investment philosophy and research culture. William Gray was a partner at Allan Gray in South Africa before founding Orbis. The two firms cross-own equity in each other's management companies, creating a mutual alignment that supports succession planning and shared research resources.

### What investment style does Orbis practice?

Orbis runs concentrated, value-oriented portfolios with a global mandate. The typical portfolio holds 30 to 50 stocks, with an average holding period of multiple years. The firm avoids benchmark weights entirely, taking large active positions in cyclical, financial, and industrial names that are often underweighted by growth-oriented competitors. Cash levels vary tactically depending on the opportunity set.

### Does Orbis offer multi-asset or only equity strategies?

Orbis manages both pure equity and multi-asset strategies. The Global Balanced Fund allocates across equities, fixed income, and commodities, targeting absolute returns with lower volatility than pure equity mandates. There is also a Japan Equity Fund, an Emerging Markets Equity Fund, and a listed closed-end vehicle.

### What differentiates Orbis's investment process from peers?

The firm's distinguishing feature is its zero-benchmark, absolute-return orientation paired with a fee structure that only pays when clients earn a real return above cash. Orbis analysts operate without formal sector silos and the portfolio managers are unconstrained by geography or market-cap limits. The research bench is global, with analysts encouraged to follow companies wherever they are listed, including Japan and emerging markets.

## Related profiles

- [Peaberry Software](https://altss.com/profile/peaberry-software-inc)
- [GreyNoise Intelligence](https://altss.com/profile/greynoise-intelligence-inc)

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/orbis-limited

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