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OAG

Orbis Allan Gray Portfolio holdings

AUM $23.7B
1-Year Est. Return 65.43%
This Fund
S&P 500
This Quarter Est. Return
+1.19%
1 Year Est. Return
+65.43%
3 Year Est. Return
+132.45%
5 Year Est. Return
+177.59%
10 Year Est. Return
+818.17%
AUM
$17.5B
AUM Growth
-$1.1B
Cap. Flow
-$802M
Cap. Flow %
-4.59%
Top 10 Hldgs %
44.37%
Holding
91
New
7
Increased
34
Reduced
33
Closed
13

Top Buys

Rank Stock Value
1
MCHP icon
Microchip Technology
MCHP
+$425M
2
STE icon
Steris
STE
+$340M
3
ELV icon
Elevance Health
ELV
+$273M
4
PDD icon
Pinduoduo
PDD
+$264M
5
SW
Smurfit Westrock
SW
+$220M

Top Sells

Rank Stock Value
1
UNH icon
UnitedHealth
UNH
+$625M
2
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$409M
3
IBKR icon
Interactive Brokers
IBKR
+$355M
4
GOOG icon
Alphabet (Google) Class C
GOOG
+$314M
5
TXN icon
Texas Instruments
TXN
+$287M

Sector Composition

Rank Sector Weight
1 Industrials 19.7%
2 Healthcare 14.55%
3 Technology 14.23%
4 Communication Services 11.08%
5 Financials 10.21%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
QXO
1
QXO Inc
QXO
$14.4B
$1.48B 8.47%
109,409,191
– –
CPAY icon
2
Corpay
CPAY
$23.8B
$1.3B 7.44%
3,731,221
-209,615
-5% -$75.7M
ELV icon
3
Elevance Health
ELV
$82.3B
$1.24B 7.09%
2,849,173
+680,228
+31% +$273M
KMI icon
4
Kinder Morgan
KMI
$72.9B
$627M 3.58%
21,964,323
-702,743
-3% -$19.5M
IBKR icon
5
Interactive Brokers
IBKR
$40.9B
$578M 3.31%
13,973,428
-7,168,592
-34% -$355M
RXO icon
6
RXO
RXO
$4.58B
$577M 3.3%
30,232,511
-12,350
-0% -$270K
GXO icon
7
GXO Logistics
GXO
$6.05B
$527M 3.01%
13,473,172
+818,353
+6% +$34.2M
BTI icon
8
British American Tobacco
BTI
$129B
$497M 2.84%
12,021,231
+2,040,011
+20% +$80.2M
SHEL icon
9
Shell
SHEL
$243B
$473M 2.71%
6,456,363
-206,174
-3% -$13.9M
SW
10
Smurfit Westrock
SW
$22.9B
$456M 2.61%
10,114,213
+4,329,653
+75% +$220M
ALNY icon
11
Alnylam Pharmaceuticals
ALNY
$35.9B
$441M 2.53%
1,634,923
+162,121
+11% +$41.7M
RNR icon
12
RenaissanceRe
RNR
$13.3B
$420M 2.4%
1,748,169
-1,115,936
-39% -$270M
NTES icon
13
NetEase
NTES
$76.9B
$377M 2.16%
3,664,973
-366,980
-9% -$36.9M
MCHP icon
14
Microchip Technology
MCHP
$44.2B
$370M 2.11%
+7,635,024
New +$425M
DIS icon
15
Walt Disney
DIS
$161B
$354M 2.03%
3,588,463
+620,166
+21% +$66.6M
STE icon
16
Steris
STE
$20.5B
$350M 2%
+1,544,011
New +$340M
UNH icon
17
UnitedHealth
UNH
$385B
$348M 1.99%
665,142
-1,223,044
-65% -$625M
AES icon
18
AES
AES
$10.6B
$342M 1.95%
27,518,952
+4,930,252
+22% +$57M
NBIS
19
Nebius Group N.V.
NBIS
$56.1B
$331M 1.9%
15,702,222
-23,460
-0.1% -$772K
MSI icon
20
Motorola Solutions
MSI
$67.6B
$322M 1.84%
736,093
+11,531
+2% +$5.14M
GPN icon
21
Global Payments
GPN
$21.3B
$316M 1.8%
3,222,435
-2,488,612
-44% -$260M
VALE icon
22
Vale
VALE
$63.1B
$312M 1.78%
31,257,989
+19,500,437
+166% +$184M
FNV icon
23
Franco-Nevada
FNV
$41.3B
$302M 1.73%
1,918,952
-21,573
-1% -$3.02M
BIDU icon
24
Baidu
BIDU
$36.5B
$298M 1.7%
3,236,111
-824,708
-20% -$74M
XPO icon
25
XPO
XPO
$25.1B
$290M 1.66%
2,697,161
-294,230
-10% -$37.4M
1
2 3 4

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Orbis Allan Gray's Q1 2025 Portfolio in Review

As of Q1 2025, Orbis Allan Gray held 91 positions worth $17.5B, down 5.9% from $18.6B the previous quarter. Its ten largest holdings account for 44% of the portfolio.

Orbis Allan Gray withdrew a net $802M in Q1 2025, closing 13 positions and reducing 33 holdings. Its most notable exit was Alphabet (Google) Class C, an estimated $314M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 20% of assets, down from 23% a quarter earlier, followed by Healthcare and Technology.

Against the trend, Orbis Allan Gray opened a new position in Microchip Technology worth $370M.

  • Orbis Allan Gray's largest Q1 2025 buy was Microchip Technology: 7,635,024 shares worth $370M.
  • Orbis Allan Gray added most to Elevance Health in Q1 2025, an estimated $273M increase.
  • Orbis Allan Gray's biggest Q1 2025 reduction was UnitedHealth, cutting an estimated $625M.
  • Orbis Allan Gray fully exited Alphabet (Google) Class C in Q1 2025, selling an estimated $314M.
  • Orbis Allan Gray's ten largest holdings make up 44% of its $17.5B portfolio in Q1 2025.
  • Orbis Allan Gray opened 7 new positions and closed 13 in Q1 2025.
  • Orbis Allan Gray's portfolio value fell 5.9% quarter-over-quarter to $17.5B.

Based on Orbis Allan Gray's 13F filing for Q1 2025, filed 15 May 2025.