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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
+9.98%
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
$23.9B
AUM Growth
+$566M
(+2.4%)
Cap. Flow
+$563M
Cap. Flow
% of AUM
2.36%
Top 10 Holdings %
Top 10 Hldgs %
37.77%
Holding
98
New
12
Increased
42
Reduced
32
Closed
9
Avg Time Held
9.4
quarters
Top 10 Avg Time Held
2.9
quarters
Top 20 Avg Time Held
5.7
quarters
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class A
GOOGL
|
+$761M |
| 2 |
Fortune Brands Innovations
FBIN
|
+$312M |
| 3 |
Motorola Solutions
MSI
|
+$252M |
| 4 |
Corpay
CPAY
|
+$250M |
| 5 |
Praxis Precision Medicines
PRAX
|
+$234M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Nebius Group N.V.
NBIS
|
+$981M |
| 2 |
Pinduoduo
PDD
|
+$717M |
| 3 |
Nu Holdings
NU
|
+$376M |
| 4 |
Micron Technology
MU
|
+$363M |
| 5 |
Smurfit Westrock
SW
|
+$190M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 27.23% |
| 2 | Industrials | 16.77% |
| 3 | Communication Services | 11% |
| 4 | Materials | 10.65% |
| 5 | Technology | 9.6% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
QXO Inc
QXO
$11B
| $1.65B | 6.91% |
85,484,474
-1,008,512
| -1% | -$19.3M |
2024 Q3
5 quarters
|
|
|
2
Corpay
CPAY
$26.1B
| $1.5B | 6.29% |
4,987,968
+859,854
| +21% | +$250M |
2021 Q2
18 quarters
|
|
3
UnitedHealth
UNH
$340B
| $852M | 3.57% |
2,581,182
+603,778
| +31% | +$205M |
2017 Q3
33 quarters
|
|
|
4
Alphabet (Google) Class A
GOOGL
$4.31T
| $834M | 3.49% |
+2,663,789
| New | +$761M |
2025 Q4
0 quarters
|
|
5
Icon
ICLR
$12.7B
| $768M | 3.22% |
4,214,661
+75,843
| +2% | +$13.5M |
2025 Q2
2 quarters
|
|
6
Insmed
INSM
$21.5B
| $727M | 3.05% |
4,179,957
+929,089
| +29% | +$170M |
2025 Q2
2 quarters
|
|
7
GXO Logistics
GXO
$5.34B
| $707M | 2.96% |
13,424,844
+37,035
| +0.3% | +$1.95M |
2021 Q3
17 quarters
|
|
8
Bruker
BRKR
$8.57B
| $702M | 2.94% |
14,906,730
+761,258
| +5% | +$32.2M |
2025 Q2
2 quarters
|
|
9
Alnylam Pharmaceuticals
ALNY
$30.4B
| $643M | 2.7% |
1,618,219
-332,743
| -17% | -$147M |
2024 Q2
6 quarters
|
|
10
Newmont
NEM
$123B
| $631M | 2.65% |
6,322,769
+684,897
| +12% | +$61.9M |
2023 Q4
8 quarters
|
|
11
Interactive Brokers
IBKR
$39.8B
| $596M | 2.5% |
9,273,735
-270,137
| -3% | -$18.1M |
2021 Q4
16 quarters
|
|
12
Itaú Unibanco
ITUB
$111B
| $585M | 2.45% |
81,682,615
-4,144,377
| -5% | -$29.5M |
2025 Q1
3 quarters
|
|
13
Steris
STE
$21.4B
| $570M | 2.39% |
2,249,511
+120,200
| +6% | +$30.2M |
2025 Q1
3 quarters
|
|
|
14
Smurfit Westrock
SW
$21.5B
| $540M | 2.26% |
13,956,868
-4,991,959
| -26% | -$190M |
2024 Q3
5 quarters
|
|
15
British American Tobacco
BTI
$120B
| $527M | 2.21% |
9,300,901
-220,229
| -2% | -$12M |
2019 Q1
27 quarters
|
|
16
XPO
XPO
$21.1B
| $496M | 2.08% |
3,652,589
+499,220
| +16% | +$68M |
2016 Q1
39 quarters
|
|
|
17
Motorola Solutions
MSI
$73.9B
| $492M | 2.06% |
1,283,065
+627,066
| +96% | +$252M |
2020 Q2
22 quarters
|
|
18
NetEase
NTES
$80.3B
| $466M | 1.95% |
3,389,449
-768,031
| -18% | -$109M |
2016 Q1
39 quarters
|
|
19
Genmab
GMAB
$23B
| $444M | 1.86% |
14,418,462
+3,340,456
| +30% | +$104M |
2024 Q3
5 quarters
|
|
20
RXO
RXO
$4.73B
| $438M | 1.84% |
34,677,755
+2,104,597
| +6% | +$31M |
2022 Q4
12 quarters
|
|
21
Elevance Health
ELV
$91.5B
| $436M | 1.83% |
1,244,946
-63,172
| -5% | -$21.3M |
2016 Q1
39 quarters
|
|
22
IQVIA
IQV
$43.2B
| $429M | 1.8% |
1,901,091
+933,554
| +96% | +$203M |
2025 Q2
2 quarters
|
|
23
Cemex
CX
$13.8B
| $415M | 1.74% |
36,132,733
+1,225,219
| +4% | +$12.7M |
2024 Q4
4 quarters
|
|
24
Walt Disney
DIS
$187B
| $405M | 1.7% |
3,563,050
-108,324
| -3% | -$11.9M |
2023 Q3
9 quarters
|
|
|
25
Praxis Precision Medicines
PRAX
$7.02B
| $370M | 1.55% |
+1,255,162
| New | +$234M |
2025 Q4
0 quarters
|
|
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Orbis Allan Gray's Q4 2025 Portfolio in Review
As of Q4 2025, Orbis Allan Gray held 98 positions worth $23.9B, up 2.4% from $23.3B the previous quarter. Its ten largest holdings account for 38% of the portfolio.
Orbis Allan Gray's Q4 2025 filing shows 12 new, 42 increased, 32 reduced and 9 closed positions. Its largest new stake was Alphabet (Google) Class A: 2,663,789 shares worth $834M. The largest sale was Nebius Group N.V., an estimated $981M.
By sector, the portfolio is most concentrated in Healthcare at 27% of assets, up from 22% a quarter earlier, followed by Industrials and Communication Services.
- Orbis Allan Gray's largest Q4 2025 buy was Alphabet (Google) Class A: 2,663,789 shares worth $834M.
- Orbis Allan Gray added most to Fortune Brands Innovations in Q4 2025, an estimated $312M increase.
- Orbis Allan Gray's biggest Q4 2025 reduction was Nebius Group N.V., cutting an estimated $981M.
- Orbis Allan Gray fully exited Micron Technology in Q4 2025, selling an estimated $363M.
- Orbis Allan Gray's ten largest holdings make up 38% of its $23.9B portfolio in Q4 2025.
- Orbis Allan Gray opened 12 new positions and closed 9 in Q4 2025.
- Orbis Allan Gray's portfolio value rose 2.4% quarter-over-quarter to $23.9B.
Based on Orbis Allan Gray's 13F filing for Q4 2025, filed 17 Feb 2026.