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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
(+23%)
Cap. Flow
+$2.95B
Cap. Flow
% of AUM
10.14%
Top 10 Holdings %
Top 10 Hldgs %
39.87%
Holding
103
New
12
Increased
45
Reduced
32
Closed
6
Avg Time Held
8.9
quarters
Top 10 Avg Time Held
3.4
quarters
Top 20 Avg Time Held
4.5
quarters
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Booking.com
BKNG
|
+$912M |
| 2 |
Insmed
INSM
|
+$509M |
| 3 |
Shell
SHEL
|
+$409M |
| 4 |
Pinduoduo
PDD
|
+$333M |
| 5 |
Brown & Brown
BRO
|
+$328M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Nebius Group N.V.
NBIS
|
+$360M |
| 2 |
Smurfit Westrock
SW
|
+$326M |
| 3 |
Westlake Corp
WLK
|
+$313M |
| 4 |
Praxis Precision Medicines
PRAX
|
+$298M |
| 5 |
AES
AES
|
+$173M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 16.81% |
| 2 | Industrials | 15.64% |
| 3 | Communication Services | 14.9% |
| 4 | Technology | 12.51% |
| 5 | Energy | 9.47% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Corpay
CPAY
$26.1B
| $1.8B | 6.19% |
5,408,507
+63,082
| +1% | +$21M |
2021 Q2
20 quarters
|
|
|
2
Nebius Group N.V.
NBIS
$57.1B
| $1.79B | 6.16% |
6,494,719
-1,820,047
| -22% | -$360M |
2020 Q4
22 quarters
|
|
|
3
Booking.com
BKNG
$119B
| $1.28B | 4.41% |
7,191,572
+5,347,272
| +290% | +$912M |
2023 Q2
12 quarters
|
|
4
QXO Inc
QXO
$11B
| $1.28B | 4.39% |
73,951,325
| – | – |
2024 Q3
7 quarters
|
|
5
Bruker
BRKR
$8.57B
| $1.08B | 3.71% |
17,940,076
| – | – |
2025 Q2
4 quarters
|
|
6
RXO
RXO
$4.73B
| $1B | 3.45% |
36,397,974
| – | – |
2022 Q4
14 quarters
|
|
7
Motorola Solutions
MSI
$73.9B
| $992M | 3.41% |
2,389,623
+519,686
| +28% | +$218M |
2020 Q2
24 quarters
|
|
8
Alphabet (Google) Class A
GOOGL
$4.31T
| $836M | 2.87% |
2,340,624
-172,659
| -7% | -$62.2M |
2025 Q4
2 quarters
|
|
9
EQT Corp
EQT
$33.3B
| $835M | 2.87% |
15,706,047
+3,593,314
| +30% | +$202M |
2025 Q4
2 quarters
|
|
10
XPO
XPO
$21.1B
| $699M | 2.4% |
3,402,819
-6,273
| -0.2% | -$1.33M |
2016 Q1
41 quarters
|
|
|
11
Shell
SHEL
$289B
| $686M | 2.36% |
8,847,436
+4,733,726
| +115% | +$409M |
2022 Q1
17 quarters
|
|
12
GXO Logistics
GXO
$5.34B
| $681M | 2.34% |
13,424,844
| – | – |
2021 Q3
19 quarters
|
|
13
Itaú Unibanco
ITUB
$111B
| $664M | 2.28% |
81,301,690
+12,032,018
| +17% | +$99.7M |
2025 Q1
5 quarters
|
|
|
14
Insmed
INSM
$21.5B
| $648M | 2.23% |
6,076,487
+4,203,663
| +224% | +$509M |
2025 Q2
4 quarters
|
|
15
Alnylam Pharmaceuticals
ALNY
$30.4B
| $598M | 2.06% |
1,987,407
+652,582
| +49% | +$197M |
2024 Q2
8 quarters
|
|
16
FirstService
FSV
$5.66B
| $575M | 1.98% |
4,044,289
+76,062
| +2% | +$10.6M |
2023 Q3
11 quarters
|
|
17
Steris
STE
$21.4B
| $564M | 1.94% |
2,677,710
+84,798
| +3% | +$18.2M |
2025 Q1
5 quarters
|
|
18
Interactive Brokers
IBKR
$39.8B
| $528M | 1.82% |
6,069,270
-48,775
| -0.8% | -$4.06M |
2021 Q4
18 quarters
|
|
19
Newmont
NEM
$123B
| $518M | 1.78% |
5,544,346
+373,671
| +7% | +$40.7M |
2023 Q4
10 quarters
|
|
|
20
Praxis Precision Medicines
PRAX
$7.02B
| $512M | 1.76% |
1,529,788
-942,692
| -38% | -$298M |
2025 Q4
2 quarters
|
|
21
NVIDIA
NVDA
$5.46T
| $490M | 1.69% |
2,450,522
+360,618
| +17% | +$74.1M |
2026 Q1
1 quarter
|
|
22
Cinemark Holdings
CNK
$4.27B
| $478M | 1.64% |
15,057,911
| – | – |
2021 Q3
19 quarters
|
|
23
British American Tobacco
BTI
$120B
| $456M | 1.57% |
7,385,374
-320,594
| -4% | -$19.4M |
2019 Q1
29 quarters
|
|
24
NetEase
NTES
$80.3B
| $449M | 1.54% |
3,503,491
-80,987
| -2% | -$9.56M |
2016 Q1
41 quarters
|
|
|
25
Pinduoduo
PDD
$115B
| $408M | 1.4% |
5,353,562
+3,609,514
| +207% | +$333M |
2024 Q4
6 quarters
|
|
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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.