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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
+17.75%
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
$23.3B
AUM Growth
+$2.73B
(+13%)
Cap. Flow
+$554M
Cap. Flow
% of AUM
2.38%
Top 10 Holdings %
Top 10 Hldgs %
41.46%
Holding
95
New
17
Increased
39
Reduced
25
Closed
9
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Icon
ICLR
|
+$636M |
| 2 |
Sea Limited
SE
|
+$358M |
| 3 |
Bruker
BRKR
|
+$337M |
| 4 |
Westlake Corp
WLK
|
+$326M |
| 5 |
UnitedHealth
UNH
|
+$269M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Elevance Health
ELV
|
+$481M |
| 2 |
Shell
SHEL
|
+$426M |
| 3 |
NBIS
Nebius Group N.V.
NBIS
|
+$337M |
| 4 |
Microchip Technology
MCHP
|
+$289M |
| 5 |
British American Tobacco
BTI
|
+$270M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 21.6% |
| 2 | Industrials | 15.61% |
| 3 | Communication Services | 13.61% |
| 4 | Consumer Discretionary | 12.18% |
| 5 | Materials | 9.36% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
QXO
1
QXO Inc
QXO
$14.4B
| $1.65B | 7.08% |
86,492,986
-9,796,563
| -10% | -$203M |
|
|
NBIS
2
Nebius Group N.V.
NBIS
$59.4B
| $1.44B | 6.17% |
12,796,543
-4,855,387
| -28% | -$337M |
|
3
Corpay
CPAY
$26.5B
| $1.19B | 5.1% |
4,128,114
+272,525
| +7% | +$86.9M |
|
4
Pinduoduo
PDD
$121B
| $918M | 3.94% |
6,942,339
+1,294,611
| +23% | +$153M |
|
5
Alnylam Pharmaceuticals
ALNY
$31.7B
| $890M | 3.82% |
1,950,962
-170,450
| -8% | -$69.4M |
|
|
SW
6
Smurfit Westrock
SW
$25.5B
| $807M | 3.46% |
18,948,827
+548,409
| +3% | +$24.8M |
|
|
7
Icon
ICLR
$13.1B
| $724M | 3.11% |
4,138,818
+3,803,141
| +1,133% | +$636M |
|
8
GXO Logistics
GXO
$5.5B
| $708M | 3.04% |
13,387,809
+214,213
| +2% | +$11M |
|
|
9
UnitedHealth
UNH
$355B
| $683M | 2.93% |
1,977,404
+890,687
| +82% | +$269M |
|
10
Interactive Brokers
IBKR
$43.7B
| $657M | 2.82% |
9,543,872
-196,200
| -2% | -$12.3M |
|
11
NetEase
NTES
$78.6B
| $632M | 2.71% |
4,157,480
+650,266
| +19% | +$89.5M |
|
12
Itaú Unibanco
ITUB
$83B
| $612M | 2.63% |
85,826,992
-1,253,264
| -1% | -$8.28M |
|
|
13
Sea Limited
SE
$72.5B
| $555M | 2.38% |
3,105,766
+2,088,232
| +205% | +$358M |
|
14
Steris
STE
$22.7B
| $527M | 2.26% |
2,129,311
+29,212
| +1% | +$6.99M |
|
|
15
British American Tobacco
BTI
$121B
| $505M | 2.17% |
9,521,130
-4,982,838
| -34% | -$270M |
|
16
RXO
RXO
$3.68B
| $501M | 2.15% |
32,573,158
+1,197,937
| +4% | +$19.3M |
|
17
Newmont
NEM
$139B
| $475M | 2.04% |
5,637,872
+628,351
| +13% | +$43.8M |
|
18
Insmed
INSM
$26.5B
| $468M | 2.01% |
3,250,868
+1,726,734
| +113% | +$212M |
|
|
19
Bruker
BRKR
$9.03B
| $460M | 1.97% |
14,145,472
+9,467,427
| +202% | +$337M |
|
20
Nu Holdings
NU
$71.9B
| $437M | 1.88% |
27,296,532
+8,425,942
| +45% | +$118M |
|
|
21
Elevance Health
ELV
$86.6B
| $423M | 1.81% |
1,308,118
-1,547,732
| -54% | -$481M |
|
22
Kinder Morgan
KMI
$70.2B
| $421M | 1.81% |
14,884,536
-7,750,643
| -34% | -$212M |
|
23
Walt Disney
DIS
$184B
| $420M | 1.8% |
3,671,374
+319,953
| +10% | +$37.7M |
|
24
XPO
XPO
$22.4B
| $408M | 1.75% |
3,153,369
+3,317
| +0.1% | +$431K |
|
25
Micron Technology
MU
$1.06T
| $363M | 1.56% |
2,166,539
-1,291,187
| -37% | -$165M |
|
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Orbis Allan Gray's Q3 2025 Portfolio in Review
As of Q3 2025, Orbis Allan Gray held 95 positions worth $23.3B, up 13% from $20.6B the previous quarter. Its ten largest holdings account for 41% of the portfolio.
Orbis Allan Gray's Q3 2025 filing shows 17 new, 39 increased, 25 reduced and 9 closed positions. Its largest new stake was Westlake Corp: 3,914,411 shares worth $302M. The largest sale was Elevance Health, an estimated $481M.
By sector, the portfolio is most concentrated in Healthcare at 22% of assets, up from 16% a quarter earlier, followed by Industrials and Communication Services.
- Orbis Allan Gray's largest Q3 2025 buy was Westlake Corp: 3,914,411 shares worth $302M.
- Orbis Allan Gray added most to Icon in Q3 2025, an estimated $636M increase.
- Orbis Allan Gray's biggest Q3 2025 reduction was Elevance Health, cutting an estimated $481M.
- Orbis Allan Gray fully exited Banco Bradesco in Q3 2025, selling an estimated $250M.
- Orbis Allan Gray's ten largest holdings make up 41% of its $23.3B portfolio in Q3 2025.
- Orbis Allan Gray opened 17 new positions and closed 9 in Q3 2025.
- Orbis Allan Gray's portfolio value rose 13% quarter-over-quarter to $23.3B.
Based on Orbis Allan Gray's 13F filing for Q3 2025, filed 14 Nov 2025.