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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
DEO icon
26
Diageo
DEO
$53.2B
$384M 1.32%
4,777,636
+1,077,542
+29% +$87M
KMI icon
27
Kinder Morgan
KMI
$73B
$377M 1.3%
11,797,985
+489,521
+4% +$15.8M
DIS icon
28
Walt Disney
DIS
$184B
$359M 1.24%
3,734,888
– –
BRO icon
29
Brown & Brown
BRO
$23.7B
$345M 1.18%
+5,371,080
New +$328M
CX icon
30
Cemex
CX
$16B
$340M 1.17%
28,304,697
-8,837,725
-24% -$110M
SRRK icon
31
Scholar Rock
SRRK
$6.39B
$326M 1.12%
5,933,533
+1,753,550
+42% +$84.7M
GMAB icon
32
Genmab
GMAB
$19.6B
$312M 1.07%
11,368,161
-1,557,417
-12% -$41.4M
RHI icon
33
Robert Half
RHI
$4.4B
$303M 1.04%
9,877,840
+2,332,276
+31% +$65.3M
CRSP icon
34
CRISPR Therapeutics
CRSP
$5.14B
$297M 1.02%
5,449,161
-656,850
-11% -$34.6M
AAL icon
35
American Airlines Group
AAL
$9.81B
$292M 1%
16,139,385
+13,943,819
+635% +$187M
TBBB icon
36
BBB Foods
TBBB
$5.81B
$281M 0.96%
6,735,036
+1,088,601
+19% +$41.5M
SW
37
Smurfit Westrock
SW
$25.8B
$272M 0.94%
5,881,487
-7,893,567
-57% -$326M
FNV icon
38
Franco-Nevada
FNV
$45.3B
$269M 0.92%
1,290,361
+210,922
+20% +$49.2M
RRC icon
39
Range Resources
RRC
$9.44B
$249M 0.86%
6,694,822
+3,988,076
+147% +$162M
B
40
Barrick Mining
B
$68.5B
$246M 0.84%
6,687,005
+666,473
+11% +$27.3M
HDB icon
41
HDFC Bank
HDB
$120B
$244M 0.84%
9,446,886
+7,658,990
+428% +$192M
RYAN icon
42
Ryan Specialty Holdings
RYAN
$10.7B
$238M 0.82%
+6,307,845
New +$214M
ENB icon
43
Enbridge
ENB
$111B
$235M 0.81%
4,342,664
+2,670,876
+160% +$146M
VALE icon
44
Vale
VALE
$58B
$215M 0.74%
14,267,945
-5,104,555
-26% -$83.2M
IQV icon
45
IQVIA
IQV
$39.1B
$213M 0.73%
1,101,165
+882,917
+405% +$154M
IMAX icon
46
IMAX
IMAX
$2.93B
$205M 0.71%
5,149,555
-2,166
-0% -$83K
GLD icon
47
SPDR Gold Trust
GLD
$143B
$184M 0.63%
499,941
+26,091
+6% +$10.8M
SYNA icon
48
Synaptics
SYNA
$4.22B
$177M 0.61%
1,422,657
-236,358
-14% -$26.7M
RNR icon
49
RenaissanceRe
RNR
$13.4B
$172M 0.59%
542,301
-106,178
-16% -$31.9M
AR icon
50
Antero Resources
AR
$11.5B
$160M 0.55%
4,547,301
-324,745
-7% -$12M
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.