Orbis reports 3.97M FirstService shares (NYSE: FSV)

Rhea-AI Filing Summary

Orbis Investment Management filed a Schedule 13G reporting beneficial ownership of 3,968,227 shares of FirstService Corp common stock, representing 8.6% of the class as of 03/31/2026.

The filing breaks ownership between Orbis Investment Management Ltd (sole voting and dispositive power over 3,450,007 shares) and Orbis Investment Management (U.S.), L.P. (sole voting and dispositive power over 518,220 shares). The filing states these holdings may be on behalf of other persons and includes a power of attorney authorizing firm signatories.

Insights

Equity Ownership Analyst

Orbis reports an 8.6% passive stake in FirstService with clear voting/dispositive splits.

Orbis Investment Management Ltd holds 3,450,007 shares with sole voting and dispositive power; its U.S. arm holds 518,220 shares. The filing classifies both reporting persons as investment advisers and states holdings may be for others.

Timing is anchored to 03/31/2026; subsequent filings will show any material changes.

Regulatory Compliance Specialist

The Schedule 13G is a passive ownership disclosure under securities rules, not an active solicitation or control claim.

The filing includes required identification, CUSIP 33767E202, and a power-of-attorney executed by firm officers. It disclaims group membership and attributes beneficial ownership per standard reporting items.

Investors can reference the stated percentages and voting powers for governance context; the filing does not assert control.

Key Figures

Beneficially owned: 3,968,227 shares Percent of class: 8.6% Orbis Ltd sole voting power: 3,450,007 shares +2 more

5 metrics

Beneficially owned 3,968,227 shares Beneficial ownership reported as of 03/31/2026

Percent of class 8.6% Percent of common stock as reported in Item 4(b)

Orbis Ltd sole voting power 3,450,007 shares Sole voting power held by Orbis Investment Management Ltd

Orbis U.S. sole voting power 518,220 shares Sole voting power held by Orbis Investment Management (U.S.), L.P.

CUSIP 33767E202 Identifier for FirstService common stock

Key Terms

Schedule 13G, Beneficially owned, Sole voting power, Dispositive power

4 terms

Schedule 13G regulatory

"Item 1. (a) Name of issuer: FirstService Corp"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

Beneficially owned financial

"Item 4. (a) Amount beneficially owned: 3,968,227"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Sole voting power regulatory

"Item 4(c)(i) Sole power to vote: Orbis Investment Management Ltd - 3,450,007"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

Dispositive power regulatory

"Item 4(c)(iii) Sole power to dispose: Orbis Investment Management (U.S.), L.P. - 518,220"

Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.

FAQ

How many FirstService (FSV) shares does Orbis report owning?

Orbis reports beneficial ownership of 3,968,227 shares of FirstService common stock, which the filing states equals 8.6% of the class as of 03/31/2026. The total reflects combined holdings of two reporting entities.

What voting and dispositive powers are disclosed by Orbis in the 13G?

Orbis Investment Management Ltd has sole voting and dispositive power over 3,450,007 shares; Orbis Investment Management (U.S.), L.P. has sole voting and dispositive power over 518,220 shares. Shared powers are reported as 0.

Does the filing indicate Orbis seeks control of FirstService?

No. The filing classifies the holdings under Schedule 13G and explicitly states the reporting persons do not represent they are a group for Section 13(d)(3). It presents the stake as passive, not a control claim.

Are the holdings reported on behalf of other investors?

Yes. The filing states some shares are held on behalf of other persons who have rights to dividends or sale proceeds. It notes a power of attorney and standard adviser-client relationships without listing underlying beneficial owners.

What is the relevance of CUSIP 33767E202 in the filing?

CUSIP 33767E202 identifies FirstService Corp common stock in the filing. It ties the reported share counts and percentage to the specific securities class disclosed by the reporting persons.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/15/2026 - 01:00 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

FirstService Corp

(Name of Issuer)

Common Stock

(Title of Class of Securities)

33767E202

(CUSIP Number)

03/31/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 33767E202

1

Names of Reporting Persons

ORBIS INVESTMENT MANAGEMENT LTD

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

BERMUDA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 3,450,007.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 3,450,007.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,450,007.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.5 %

12

Type of Reporting Person (See Instructions)

FI

SCHEDULE 13G

CUSIP Number(s): 33767E202

1

Names of Reporting Persons

Orbis Investment Management (U.S.), L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 518,220.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 518,220.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

518,220.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

1.1 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: FirstService Corp
(b)	Address of issuer's principal executive offices: 1255 BAY STREET, SUITE 600, TORONTO, ONTARIO, CANADA M5R 2A9
Item 2.
(a)	Name of person filing: ORBIS INVESTMENT MANAGEMENT LTD Orbis Investment Management (U.S.), L.P.
(b)	Address or principal business office or, if none, residence: ORBIS INVESTMENT MANAGEMENT LTD: Orbis House, 25 Front Street, Hamilton, Bermuda HM11 Orbis Investment Management (U.S.) L.P.: One Letterman Drive, Building C, Suite CM-100, The Presidio of San Francisco, San Francisco, CA 94129-1492, USA
(c)	Citizenship: ORBIS INVESTMENT MANAGEMENT LTD - BERMUDA Orbis Investment Management (U.S.), L.P. - DELAWARE
(d)	Title of class of securities: Common Stock
(e)	CUSIP Number(s): 33767E202
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
	Equivalent to IA (Orbis Investment Management Ltd).
Item 4.	Ownership
(a)	Amount beneficially owned: 3,968,227
(b)	Percent of class: 8.6 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: ORBIS INVESTMENT MANAGEMENT LTD - 3,450,007 Orbis Investment Management (U.S.), L.P. - 518,220
	(ii) Shared power to vote or to direct the vote: ORBIS INVESTMENT MANAGEMENT LTD - 0 Orbis Investment Management (U.S.), L.P. - 0
	(iii) Sole power to dispose or to direct the disposition of: ORBIS INVESTMENT MANAGEMENT LTD - 3,450,007 Orbis Investment Management (U.S.), L.P. - 518,220
	(iv) Shared power to dispose or to direct the disposition of: ORBIS INVESTMENT MANAGEMENT LTD - 0 Orbis Investment Management (U.S.), L.P. - 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. Other persons have the right to receive dividends from, the power to direct the receipt of dividends from, or the right to receive the proceeds from the sale of, the securities of the issuer identified in Item 4(a) that are beneficially owned by Orbis Investment Management Ltd. Another person has the right to receive dividends from, the power to direct the receipt of dividends from, or the right to receive the proceeds from the sale of, the securities of the issuer identified in Item 4(a) that are beneficially owned by Orbis Investment Management (U.S.), L.P.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(K), so indicate under Item 3(k) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group. Information with respect to each of Orbis Investment Management Ltd and Orbis Investment Management (U.S.), L.P. (collectively, the "Reporting Persons") is given solely by each such Reporting Person and no Reporting Person has responsibility for the accuracy or completeness of information supplied by any other Reporting Person. Orbis Investment Management Limited is classified as a Non-U.S. Institution (FI) that is equivalent to an Investment Adviser (IA). Orbis Investment Management (U.S.), L.P. is classified as an Investment Adviser (IA). Notwithstanding that the Reporting Persons are making this filing together, none of the Reporting Persons represents that it is a member of a group for the purposes of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended. Each Reporting Person disclaims beneficial ownership of any shares beneficially owned by any other Reporting Person as specified in Item 4(a).
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. By signing below I certify that, to the best of my knowledge and belief, the foreign regulatory scheme applicable to Orbis Investment Management Ltd is substantially comparable to the regulatory scheme applicable to the functionally equivalent U.S. institution(s). I also undertake to furnish to the Commission staff, upon request, information that would otherwise be disclosed in a Schedule 13D.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

ORBIS INVESTMENT MANAGEMENT LTD

Signature:	Matt Gaarder
Name/Title:	Attorney-in-Fact
Date:	05/15/2026

Orbis Investment Management (U.S.), L.P.

Signature:	Matt Gaarder
Name/Title:	Secretary
Date:	05/15/2026

Exhibit Information

POWER OF ATTORNEY THIS DEED OF POWER OF ATTORNEY is made on this the 6 day of June 2019. The undersigned, Orbis Investment Management Limited, a limited company duly organized under the laws of Bermuda with its registered office at Orbis House, 25 Front Street, Hamilton, HMI 1, Bermuda the "Company"), does hereby make, constitute and appoint each of Ali Ziai, David Gasperow, Elizabeth Lee, Eugene Tan, Hugh Gillespie, Ian Noetzel, James Dorr, Katharine Summerley, Matthew Gaarder, Michael Fox, Samantha Scott, and Tim Freeman acting severally, as its true and lawful attorneys-in-fact, for the purpose of from time to time executing in its name and on its behalf, whether the Company individually or as representative of others, any and all certificates, documents, filings, forms, instruments, schedules, statements, and amendments to the foregoing (collectively, "documents") determined by such person to be necessary or appropriate to comply with ownership and/or control-person reporting requirements imposed by any United States or non-United States governmental or regulatory authority, including without limitation Forms 3, 4, 5, 13F, and 13H and Schedules 13D and 13G and any amendments to any of the foregoing as may be required to be filed with the U.S. Securities and Exchange Commission, and delivering, furnishing or filing any such documents with the appropriate governmental, regulatory authority or other person, and giving and granting to each such attorney-in-fact power and authority to act as fully and to all intents and purposes as the Company might or could do if personally present by one of its authorized signatories, hereby ratifying and confirming all that said attorney-in-fact shall lawfully do or cause to be done by virtue hereof. Any such determination by an attorney-in-fact named herein shall be conclusively evidenced by such person's execution, delivery, furnishing or filing of the applicable document. This power of attorney shall be valid from the date hereof and shall remain in full force and effect until either revoked in writing by the Company, or, in respect of any attorney-in-fact named herein, until such person ceases to be an employee of the Company or one of its affiliates or subsidiaries. This power of attorney and any dispute or claim arising out of or in connection with it, its subject matter or its formation shall be governed by and construed in accordance with the law of Bermuda. IN WITNESS WHEREOF this power of attorney has been duly executed and delivered for and on behalf of the Company as a deed and takes effect on the date stated at the beginning of it. EXECUTED and DELIVERED as a DEED For and on behalf of ORBIS INVESTMENT MANAGEMENT LIMITED By: /s/ Matthew Furr Name: Matthew Furr Title: Director in the presence of: By: /s/ Daniel Samilski Witness signature Name: Daniel Samilski Address: Orbis House, 25 Front St, Hamilton HM 11, Bermuda Occupation: Compliance Manager