Genmab A/S (GMAB): Orbis and Allan Gray report 5.3% beneficial ownership stake

Rhea-AI Filing Summary

Orbis Investment Management Ltd and Allan Gray Australia Pty Ltd report beneficial ownership in Genmab A/S. The reporting persons together beneficially own 3,328,505 Ordinary Shares, consisting of 2,191,689 Ordinary Shares and 11,368,161 ADSs representing 1,136,816 Ordinary Shares.

This position represents 5.3% of Genmab’s outstanding Ordinary Shares. Orbis Investment Management Ltd holds sole voting and dispositive power over 3,320,695 shares, while Allan Gray Australia Pty Ltd holds sole voting and dispositive power over 7,810 shares. Other persons have rights to dividends and sale proceeds associated with these securities. Each reporting person disclaims beneficial ownership of shares reported by the other and states that the joint filing does not constitute a "group" under Section 13(d)(3).

Key Figures

Beneficial ownership: 3,328,505 Ordinary Shares Ownership percentage: 5.3 % Ordinary Shares held directly: 2,191,689 Ordinary Shares +3 more

6 metrics

Beneficial ownership 3,328,505 Ordinary Shares Total beneficially owned by Orbis and Allan Gray together

Ownership percentage 5.3 % Percent of Genmab A/S Ordinary Shares class

Ordinary Shares held directly 2,191,689 Ordinary Shares Portion of total beneficial ownership held as Ordinary Shares

ADSs held 11,368,161 ADSs ADS component of beneficial ownership, each 10 ADSs = 1 Ordinary Share

Orbis sole voting power 3,320,695 shares Shares over which Orbis has sole voting and dispositive power

Allan Gray sole voting power 7,810 shares Shares over which Allan Gray Australia Pty Ltd has sole voting and dispositive power

Key Terms

American Depositary Shares (ADS), beneficially owned, Non-U.S. Institution (FI), Investment Adviser (IA), +1 more

5 terms

American Depositary Shares (ADS) financial

"Ordinary Shares and American Depositary Shares (ADS), each 10 ADS representing 1 Ordinary Share"

American depositary shares (ADS) are a way for investors in the United States to buy shares of foreign companies without dealing with the complexities of international markets. They represent ownership in a foreign company's stock and are traded on U.S. exchanges, making it easier and more convenient for Americans to invest internationally. ADSs allow investors to diversify their portfolios with foreign companies while using familiar trading platforms.

beneficially owned financial

"Amount beneficially owned: 3,328,505, made up of 2,191,689 Ordinary Shares and 11,368,161 ADSs"

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.

Non-U.S. Institution (FI) regulatory

"Orbis Investment Management Ltd and Allan Gray Australia Pty Ltd are classified as a Non-U.S. Institution (FI)"

Investment Adviser (IA) regulatory

"Non-U.S. Institution (FI) that is equivalent to an Investment Adviser (IA)"

An investment adviser (IA) is a person or firm that provides personalized guidance on buying, selling, or holding investments and often manages client portfolios for a fee. Investors should care because an IA has a legal duty to act in the client's best interest—think of them as a navigator who plans and steers your financial journey—so their advice, fee structure and potential conflicts can directly affect returns and financial risk.

Schedule 13D regulatory

"undertake to furnish to the Commission staff, upon request, information that would otherwise be disclosed in a Schedule 13D"

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

FAQ

What ownership stake in Genmab A/S (GMAB) do Orbis and Allan Gray report?

Orbis Investment Management Ltd and Allan Gray Australia Pty Ltd report beneficial ownership of 3,328,505 Ordinary Shares of Genmab A/S, representing 5.3% of the outstanding class as disclosed under Schedule 13G/A.

How is the 3,328,505-share position in Genmab A/S (GMAB) structured?

The reported 3,328,505 Ordinary Shares consist of 2,191,689 Ordinary Shares and 11,368,161 ADSs, with each 10 ADSs representing 1 Ordinary Share, corresponding to 1,136,816 Ordinary Shares via ADSs.

What portion of Genmab A/S (GMAB) shares does Orbis control directly?

Orbis Investment Management Ltd has sole voting and dispositive power over 3,320,695 shares, made up of 2,187,218 Ordinary Shares and 11,334,768 ADSs, which represent 1,133,477 Ordinary Shares through ADSs.

What holdings in Genmab A/S (GMAB) are reported by Allan Gray Australia Pty Ltd?

Allan Gray Australia Pty Ltd has sole voting and dispositive power over 7,810 shares, consisting of 4,471 Ordinary Shares and 33,393 ADSs, which represent 3,339 Ordinary Shares via ADSs, according to the Schedule 13G/A.

Do Orbis and Allan Gray form a group for Genmab A/S (GMAB) under Section 13(d)?

The reporting persons state that, despite filing together, none of them represents that it is a member of a group for purposes of Section 13(d)(3) and each disclaims beneficial ownership of shares held by the other.

Who has rights to dividends and sale proceeds from the Genmab A/S (GMAB) shares?

The filing notes that other persons have the right to receive dividends or sale proceeds for securities beneficially owned by Orbis and Allan Gray, reflecting underlying clients’ economic interests in these positions.

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Available on EDGAR 08/14/2026 - 01:15 PM Accepted by SEC EDGAR 08/14/2026 - 01:14 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 3)

GENMAB A/S

(Name of Issuer)

Ordinary Shares and American Depositary Shares (ADS), each 10 ADS representing 1 Ordinary Share

(Title of Class of Securities)

K3967W102

(CUSIP Number)

06/30/2026

(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): K3967W102

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 3,320,695.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 3,320,695.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,320,695.00

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)

5.3 %

12

Type of Reporting Person (See Instructions)

FI

SCHEDULE 13G

CUSIP Number(s): K3967W102

1

Names of Reporting Persons

Allan Gray Australia Pty 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

AUSTRALIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 7,810.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 7,810.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

7,810.00

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)

0 %

12

Type of Reporting Person (See Instructions)

FI

SCHEDULE 13G

Item 1.
(a)	Name of issuer: GENMAB A/S
(b)	Address of issuer's principal executive offices: TOLDBODGADE 33, 1253 COPENHAGEN K, DENMARK 00000
Item 2.
(a)	Name of person filing: ORBIS INVESTMENT MANAGEMENT LTD Allan Gray Australia Pty Ltd
(b)	Address or principal business office or, if none, residence: ORBIS INVESTMENT MANAGEMENT LTD: Orbis House, 25 Front Street, Hamilton, Bermuda HM11 Allan Gray Australia Pty Ltd: Level 2, Challis House, 4 Martin Place, Sydney NSW2000, Australia
(c)	Citizenship: ORBIS INVESTMENT MANAGEMENT LTD - BERMUDA Allan Gray Australia Pty Ltd - AUSTRALIA
(d)	Title of class of securities: Ordinary Shares and American Depositary Shares (ADS), each 10 ADS representing 1 Ordinary Share
(e)	CUSIP No.: K3967W102
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 an IA.
Item 4.	Ownership
(a)	Amount beneficially owned: 3,328,505, made up of 2,191,689 Ordinary Shares and 11,368,161 ADSs, representing 1,136,816 Ordinary Shares.
(b)	Percent of class: 5.3 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: ORBIS INVESTMENT MANAGEMENT LTD - 3,320,695, made up of 2,187,218 Ordinary Shares and 11,334,768 ADSs, representing 1,133,477 Ordinary Shares. Allan Gray Australia Pty Ltd - 7,810, made up of 4,471 Ordinary Shares and 33,393 ADSs, representing 3,339 Ordinary Shares.
	(ii) Shared power to vote or to direct the vote: ORBIS INVESTMENT MANAGEMENT LTD - 0 Allan Gray Australia Pty Ltd - 0
	(iii) Sole power to dispose or to direct the disposition of: ORBIS INVESTMENT MANAGEMENT LTD - 3,320,695, made up of 2,187,218 Ordinary Shares and 11,334,768 ADSs, representing 1,133,477 Ordinary Shares. Allan Gray Australia Pty Ltd - 7,810, made up of 4,471 Ordinary Shares and 33,393 ADSs, representing 3,339 Ordinary Shares.
	(iv) Shared power to dispose or to direct the disposition of: ORBIS INVESTMENT MANAGEMENT LTD - 0 Allan Gray Australia Pty Ltd - 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 Allan Gray Australia Pty Ltd.
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)(J), so indicate under Item 3(j) 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 Allan Gray Australia Pty Ltd (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 Ltd and Allan Gray Australia Pty Ltd are classified as a Non-U.S. Institution (FI) that is equivalent to 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 and Allan Gray Australia Pty 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:	Matthew Gaarder
Name/Title:	Attorney-in-Fact
Date:	08/14/2026

Allan Gray Australia Pty Ltd

Signature:	Matthew Gaarder
Name/Title:	Attorney-in-Fact
Date:	08/14/2026