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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
+21.95%
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
$20.6B
AUM Growth
+$3.08B
Cap. Flow
+$592M
Cap. Flow %
2.88%
Top 10 Hldgs %
46.25%
Holding
89
New
11
Increased
40
Reduced
25
Closed
11

Top Buys

Rank Stock Value
1
SW
Smurfit Westrock
SW
+$355M
2
PDD icon
Pinduoduo
PDD
+$341M
3
ITUB icon
Itaú Unibanco
ITUB
+$271M
4
BBD icon
Banco Bradesco
BBD
+$213M
5
BRKR icon
Bruker
BRKR
+$181M

Top Sells

Rank Stock Value
1
GPN icon
Global Payments
GPN
+$316M
2
BIDU icon
Baidu
BIDU
+$298M
3
MSI icon
Motorola Solutions
MSI
+$234M
4
QXO
QXO Inc
QXO
+$215M
5
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$201M

Sector Composition

Rank Sector Weight
1 Industrials 19.43%
2 Healthcare 16.28%
3 Technology 12.04%
4 Communication Services 11.45%
5 Financials 11.02%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
QXO
1
QXO Inc
QXO
$14.1B
$2.07B 10.09%
96,289,549
-13,119,642
-12% -$215M
CPAY icon
2
Corpay
CPAY
$24.1B
$1.28B 6.22%
3,855,589
+124,368
+3% +$40.6M
ELV icon
3
Elevance Health
ELV
$81.8B
$1.11B 5.4%
2,855,850
+6,677
+0.2% +$2.69M
NBIS
4
Nebius Group N.V.
NBIS
$50.2B
$977M 4.75%
17,651,930
+1,949,708
+12% +$67.1M
SW
5
Smurfit Westrock
SW
$23.4B
$794M 3.86%
18,400,418
+8,286,205
+82% +$355M
ALNY icon
6
Alnylam Pharmaceuticals
ALNY
$36.2B
$692M 3.36%
2,121,412
+486,489
+30% +$135M
BTI icon
7
British American Tobacco
BTI
$132B
$686M 3.34%
14,503,968
+2,482,737
+21% +$110M
KMI icon
8
Kinder Morgan
KMI
$73.4B
$665M 3.24%
22,635,179
+670,856
+3% +$18.4M
GXO icon
9
GXO Logistics
GXO
$6.07B
$642M 3.12%
13,173,596
-299,576
-2% -$11.9M
PDD icon
10
Pinduoduo
PDD
$118B
$591M 2.87%
5,647,728
+3,250,416
+136% +$341M
ITUB icon
11
Itaú Unibanco
ITUB
$91.7B
$574M 2.79%
87,080,256
+44,448,400
+104% +$271M
IBKR icon
12
Interactive Brokers
IBKR
$40.6B
$540M 2.62%
9,740,072
-4,233,356
-30% -$201M
SHEL icon
13
Shell
SHEL
$245B
$516M 2.51%
7,333,663
+877,300
+14% +$58.8M
STE icon
14
Steris
STE
$20.8B
$504M 2.45%
2,100,099
+556,088
+36% +$129M
RXO icon
15
RXO
RXO
$4.19B
$493M 2.4%
31,375,221
+1,142,710
+4% +$17.3M
NTES icon
16
NetEase
NTES
$76.8B
$472M 2.3%
3,507,214
-157,759
-4% -$18.1M
MU icon
17
Micron Technology
MU
$1.06T
$426M 2.07%
3,457,726
+1,156,086
+50% +$108M
DIS icon
18
Walt Disney
DIS
$166B
$416M 2.02%
3,351,421
-237,042
-7% -$24.6M
XPO icon
19
XPO
XPO
$25B
$398M 1.93%
3,150,052
+452,891
+17% +$50.8M
UNH icon
20
UnitedHealth
UNH
$383B
$339M 1.65%
1,086,717
+421,575
+63% +$161M
MCHP icon
21
Microchip Technology
MCHP
$42.9B
$327M 1.59%
4,640,869
-2,994,155
-39% -$165M
CNK icon
22
Cinemark Holdings
CNK
$3.89B
$305M 1.48%
10,098,174
-44,072
-0.4% -$1.33M
NEM icon
23
Newmont
NEM
$100B
$292M 1.42%
5,009,521
-663,162
-12% -$35.4M
AES icon
24
AES
AES
$10.6B
$291M 1.41%
27,618,252
+99,300
+0.4% +$1.06M
NU icon
25
Nu Holdings
NU
$68.4B
$259M 1.26%
18,870,590
+4,147,660
+28% +$49.7M
1
2 3 4

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Orbis Allan Gray's Q2 2025 Portfolio in Review

As of Q2 2025, Orbis Allan Gray held 89 positions worth $20.6B, up 18% from $17.5B the previous quarter. Its ten largest holdings account for 46% of the portfolio.

Orbis Allan Gray's Q2 2025 filing shows 11 new, 40 increased, 25 reduced and 11 closed positions. Its largest new stake was Banco Bradesco: 81,034,974 shares worth $250M. The largest sale was Global Payments, an estimated $316M.

By sector, the portfolio is most concentrated in Industrials at 19% of assets, down from 20% a quarter earlier, followed by Healthcare and Technology.

  • Orbis Allan Gray's largest Q2 2025 buy was Banco Bradesco: 81,034,974 shares worth $250M.
  • Orbis Allan Gray added most to Smurfit Westrock in Q2 2025, an estimated $355M increase.
  • Orbis Allan Gray's biggest Q2 2025 reduction was Motorola Solutions, cutting an estimated $234M.
  • Orbis Allan Gray fully exited Global Payments in Q2 2025, selling an estimated $316M.
  • Orbis Allan Gray's ten largest holdings make up 46% of its $20.6B portfolio in Q2 2025.
  • Orbis Allan Gray opened 11 new positions and closed 11 in Q2 2025.
  • Orbis Allan Gray's portfolio value rose 18% quarter-over-quarter to $20.6B.

Based on Orbis Allan Gray's 13F filing for Q2 2025, filed 14 Aug 2025.