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OAG

Orbis Allan Gray Portfolio holdings

AUM $29.1B
1-Year Est. Return 60.8%
This Fund
S&P 500
This Quarter Est. Return
+18.54%
1 Year Est. Return
+60.8%
3 Year Est. Return
+154.65%
5 Year Est. Return
+203.47%
10 Year Est. Return
+909.03%
AUM
$29.1B
AUM Growth
+$5.39B
Cap. Flow
+$2.95B
Cap. Flow %
10.14%
Top 10 Hldgs %
39.87%
Holding
103
New
12
Increased
45
Reduced
32
Closed
6

Top Buys

Rank Stock Value
1
BKNG icon
Booking.com
BKNG
+$912M
2
INSM icon
Insmed
INSM
+$509M
3
SHEL icon
Shell
SHEL
+$409M
4
PDD icon
Pinduoduo
PDD
+$333M
5
BRO icon
Brown & Brown
BRO
+$328M

Top Sells

Rank Stock Value
1
NBIS
Nebius Group N.V.
NBIS
+$360M
2
SW
Smurfit Westrock
SW
+$326M
3
WLK icon
Westlake Corp
WLK
+$313M
4
PRAX icon
Praxis Precision Medicines
PRAX
+$298M
5
AES icon
AES
AES
+$173M

Sector Composition

Rank Sector Weight
1 Healthcare 16.81%
2 Industrials 15.64%
3 Communication Services 14.62%
4 Technology 12.51%
5 Energy 9.47%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CPAY icon
1
Corpay
CPAY
$26.8B
$1.8B 6.19%
5,408,507
+63,082
+1% +$21M
NBIS
2
Nebius Group N.V.
NBIS
$56.9B
$1.79B 6.16%
6,494,719
-1,820,047
-22% -$360M
BKNG icon
3
Booking.com
BKNG
$155B
$1.28B 4.41%
7,191,572
+5,347,272
+290% +$912M
QXO
4
QXO Inc
QXO
$14B
$1.28B 4.39%
73,951,325
– –
BRKR icon
5
Bruker
BRKR
$8.7B
$1.08B 3.71%
17,940,076
– –
RXO icon
6
RXO
RXO
$3.61B
$1B 3.45%
36,397,974
– –
MSI icon
7
Motorola Solutions
MSI
$80.4B
$992M 3.41%
2,389,623
+519,686
+28% +$218M
GOOGL icon
8
Alphabet (Google) Class A
GOOGL
$4.24T
$836M 2.87%
2,340,624
-172,659
-7% -$62.2M
EQT icon
9
EQT Corp
EQT
$34.1B
$835M 2.87%
15,706,047
+3,593,314
+30% +$202M
XPO icon
10
XPO
XPO
$22.1B
$699M 2.4%
3,402,819
-6,273
-0.2% -$1.33M
SHEL icon
11
Shell
SHEL
$250B
$686M 2.36%
8,847,436
+4,733,726
+115% +$409M
GXO icon
12
GXO Logistics
GXO
$5.46B
$681M 2.34%
13,424,844
– –
ITUB icon
13
Itaú Unibanco
ITUB
$82.7B
$664M 2.28%
81,301,690
+12,032,018
+17% +$99.7M
INSM icon
14
Insmed
INSM
$25.9B
$648M 2.23%
6,076,487
+4,203,663
+224% +$509M
ALNY icon
15
Alnylam Pharmaceuticals
ALNY
$31.7B
$598M 2.06%
1,987,407
+652,582
+49% +$197M
FSV icon
16
FirstService
FSV
$6.18B
$575M 1.98%
4,044,289
+76,062
+2% +$10.6M
STE icon
17
Steris
STE
$22.8B
$564M 1.94%
2,677,710
+84,798
+3% +$18.2M
IBKR icon
18
Interactive Brokers
IBKR
$43.4B
$528M 1.82%
6,069,270
-48,775
-0.8% -$4.06M
NEM icon
19
Newmont
NEM
$135B
$518M 1.78%
5,544,346
+373,671
+7% +$40.7M
PRAX icon
20
Praxis Precision Medicines
PRAX
$9.63B
$512M 1.76%
1,529,788
-942,692
-38% -$298M
NVDA icon
21
NVIDIA
NVDA
$5.25T
$490M 1.69%
2,450,522
+360,618
+17% +$74.1M
CNK icon
22
Cinemark Holdings
CNK
$4.17B
$478M 1.64%
15,057,911
– –
BTI icon
23
British American Tobacco
BTI
$121B
$456M 1.57%
7,385,374
-320,594
-4% -$19.4M
NTES icon
24
NetEase
NTES
$78.6B
$449M 1.54%
3,503,491
-80,987
-2% -$9.56M
PDD icon
25
Pinduoduo
PDD
$122B
$408M 1.4%
5,353,562
+3,609,514
+207% +$333M
1
2 3 4 5

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Orbis Allan Gray's Q2 2026 Portfolio in Review

As of Q2 2026, Orbis Allan Gray held 103 positions worth $29.1B, up 23% from $23.7B the previous quarter. Its ten largest holdings account for 40% of the portfolio.

Orbis Allan Gray deployed $2.95B of net new capital in Q2 2026, opening 12 new positions and adding to 45 existing holdings. Its largest new stake was Brown & Brown: 5,371,080 shares worth $345M.

By sector, the portfolio is most concentrated in Healthcare at 17% of assets, up from 16% a quarter earlier, followed by Industrials and Communication Services.

On the sell side, the largest reduction was Nebius Group N.V., an estimated $360M trimmed.

  • Orbis Allan Gray's largest Q2 2026 buy was Brown & Brown: 5,371,080 shares worth $345M.
  • Orbis Allan Gray added most to Booking.com in Q2 2026, an estimated $912M increase.
  • Orbis Allan Gray's biggest Q2 2026 reduction was Nebius Group N.V., cutting an estimated $360M.
  • Orbis Allan Gray fully exited AES in Q2 2026, selling an estimated $173M.
  • Orbis Allan Gray's ten largest holdings make up 40% of its $29.1B portfolio in Q2 2026.
  • Orbis Allan Gray opened 12 new positions and closed 6 in Q2 2026.
  • Orbis Allan Gray's portfolio value rose 23% quarter-over-quarter to $29.1B.

Based on Orbis Allan Gray's 13F filing for Q2 2026, filed 14 Aug 2026.